NPORT-EX 2 NPORT_125303477655684.htm

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DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS

July 31, 2020

(Unaudited)

Principal         Amount (000)				Description (a)		Value
				LONG-TERM INVESTMENTS - 146%
				Alabama - 1.8%
	$2,000			Jefferson Cnty. Brd. of Ed. Pub. Sch.
				Warrants,
				5.00%, 2/01/46			$2,414,000
				Alaska - 0.3%
	290			Anchorage Elec. Util. Rev.,
				5.00%, 12/01/36			339,816
				Arizona - 3.8%
	1,350			Arizona Brd. of Regents Rev.,
				Arizona St. Univ.,
				5.00%, 7/01/37			1,637,564
	650			Arizona St. Hlth. Fac. Auth. Rev.,
				Scottsdale Lincoln Hosp. Proj.,
				5.00%, 12/01/42			736,502
	1,000			Maricopa Cnty. Indl. Dev. Auth. Rev.,
				Banner Hlth.,
				4.00%, 1/01/34			1,137,570
	190			Northern Arizona Univ. Rev.,
				5.00%, 6/01/40
				Prerefunded 6/01/24 @ $100 (b)			224,016
	310			Northern Arizona Univ. Rev.,
				5.00%, 6/01/40			348,549
	1,000			Northern Arizona Univ. SPEED Rev.,
				(Stimulus Plan for Econ. and Edl. Dev.),
				5.00%, 8/01/38
				Prerefunded 8/01/23 @ $100 (b)			1,140,200
							5,224,401
				California - 18%
	1,150			California St. Hlth. Facs. Fin. Auth. Rev.,
				Kaiser Permanente,
				4.00%, 11/01/44			1,297,591
	330			California St. Hlth. Facs. Fin. Auth. Rev.,
				Providence St. Joseph Hlth.,
				4.00%, 10/01/36			374,649
	1,500			California St. Hlth. Facs. Fin. Auth. Rev.,
				Sutter Hlth.,
				5.00%, 11/15/46			1,758,780
	100			California St. Muni. Fin. Auth. Student
				Hsg. Rev., Bowles Hall Foundation,
				5.00%, 6/01/35			106,997

The accompanying note is an integral part of this financial statement.

1

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

July 31, 2020

(Unaudited)

Principal         Amount (000)				Description (a)		Value
	$1,000			California St. Gen. Oblig.,
				5.00% 10/01/28			$1,187,520
	1,000			California St. Pub. Wks. Brd. Lease Rev.,
				Dept. of Corrections and Rehab.,
				5.25%, 9/01/29			1,142,870
	750			California Statewide Communities Dev.
				Auth. Rev., Marin General Hosp.,
				4.00%, 8/01/45			787,958
	600			Contra Costa Cnty. Successor Agy.
				to Redev. Agy., Tax Allocation,
				5.00%, 8/01/35, BAM			750,756
	1,000			Garden Grove Successor Agy. to Agy.
				Cmty. Dev., Tax Allocation,
				5.00%, 10/01/31, BAM			1,219,840
	2,000			Gilroy Unified Sch. Dist. Gen. Oblig.,
				4.00%, 8/01/41			2,275,760
	280			Lancaster Successor Agy. to Redev. Agy.,
				Tax Allocation,
				5.00%, 8/01/33, AGM			336,857
	1,000			Los Angeles Cnty. Santn. Dists. Fin. Auth. Rev.,
				5.00%, 10/01/34			1,220,160
	250			Palm Desert Successor Agy. to Redev.
				Agy., Tax Allocation,
				5.00%, 10/01/28, BAM			314,633
	2,550			Riverside Cnty. Sngl. Fam. Rev.,
				7.80%, 5/01/21,
				Escrowed to maturity (b)			2,686,425
	1,000			San Jose Unified Sch. Dist. Gen. Oblig.,
				4.00%, 8/01/42			1,157,540
	1,215			San Marcos Successor Agy. to Redev.
				Agy., Tax Allocation,
				5.00%, 10/01/32			1,432,910
	2,000			San Mateo Successor Agy. to Redev.
				Agy., Tax Allocation,
				5.00%, 8/01/30			2,340,360
	1,000			Santa Clarita Cmnty. Clg. Dist. Gen. Oblig.,
				3.00%, 8/01/49			1,053,710
	1,000			Temple City Unified Sch. Dist. Gen. Oblig.,
				4.00%, 8/01/43			1,134,330
	1,750			Univ. of California Rev.,
				4.00%, 5/15/48			2,043,825
							24,623,471

The accompanying note is an integral part of this financial statement.

2

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

July 31, 2020

(Unaudited)

Principal         Amount (000)				Description (a)		Value
				Colorado - 4.1%
	$610			Colorado St. Hsg. & Fin. Auth. Rev.,
				3.60%, 11/01/38			$633,046
	400			Denver Conv. Center & Hotel Auth. Rev.,
				5.00%, 12/01/27			438,120
	1,000			Eagle River Wtr. & Santn. Dist.
				Enterprise Wstwtr. Rev.,
				5.00%, 12/01/42
				Prerefunded 12/01/22 @ $100 (b)			1,109,550
	1,815			Public Auth. for Colorado Energy,
				Natural Gas Purch. Rev.,
				6.25%, 11/15/28			2,326,140
	1,000			Univ. of Colorado Enterprise Rev.,
				4.00%, 6/01/43			1,162,870
							5,669,726
				Connecticut - 7.4%
	900			Connecticut St. Gen. Oblig.,
				5.00%, 9/15/35			1,139,454
	705			Connecticut St. Gen. Oblig.,
				4.00%, 4/15/38			828,784
	700			Connecticut St. Hlth. & Edl. Facs. Auth.
				Rev., Hartford HlthCare.,
				5.00%, 7/01/32
				Prerefunded 7/01/21 @ $100 (b)			729,883
	1,000			Connecticut St. Hlth. & Edl. Facs. Auth.
				Rev., Hartford HlthCare.,
				5.00%, 7/01/41
				Prerefunded 7/01/21 @ $100 (b)			1,042,690
	500			Connecticut St. Hlth. & Edl. Facs. Auth.
				Rev., Univ. of New Haven,
				5.00%, 7/01/43			538,700
	550			Connecticut St. Hlth. & Edl. Facs. Auth.
				Rev., Yale-New Haven Hosp.,
				5.00%, 7/01/48			595,584
	250			Connecticut St. Hgr. Edu. Supplemental
				Loan Auth. Rev.,
				3.25%, 11/15/36			253,138
	570			Connecticut St. Hsg. Auth. Rev.,
				3.00%, 5/15/33			619,037
	500			Connecticut St. Hsg. Auth. Rev.,
				3.20%, 11/15/33			549,215
	1,130			Connecticut St. Spl. Tax Oblig. Rev.,
				3.125%, 5/01/40			1,220,162

The accompanying note is an integral part of this financial statement.

3

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

July 31, 2020

(Unaudited)

Principal         Amount (000)				Description (a)		Value
	$1,000			S. Central Connecticut Reg. Wtr. Auth. Rev.,
				5.00%, 8/01/41
				Prerefunded 8/01/21 @ $100 (b)			$1,048,040
	1,300			Univ. of Connecticut Spec. Oblig. Rev.,
				5.00%, 11/15/43			1,608,737
							10,173,424
				District of Columbia - 0.9%
	1,000			District of Columbia Gen. Oblig.,
				5.00%, 6/01/43			1,272,520
				Florida - 22%
	755			Brevard Cnty. Sch. Brd. Ref. COP,
				5.00%, 7/01/32			944,973
	750			Broward Cnty. Port Fac. Rev.,
				4.00%, 9/01/49			805,328
	1,000			Central Florida Expwy. Auth. Rev.,
				4.00%, 7/01/36			1,123,570
	1,120			Escambia Cnty. Hlth. Fac. Auth. Rev.,
				Baptist Hosp.,
				6.00%, 8/15/36			1,122,341
	1,175			Escambia Cnty. Hlth. Fac. Auth. Rev.,
				Baptist Hosp.,
				3.00%, 8/15/50, AGM			1,225,267
	2,000			Florida St. Brd. of Ed. Cap. Outlay
				Gen. Oblig.,
				5.00%, 6/01/41			2,073,480
	2,350			Florida St. Brd. of Gov. Florida State Univ.
				Dorm Rev.,
				5.00%, 5/01/33			2,623,211
	1,000			Hillsborough Cnty. Aviation Auth. Rev.,
				Tampa Int’l. Arpt.,
				5.00%, 10/01/44			1,114,720
	500			Lee Cnty. Tran. Fac. Rev.,
				5.00%, 10/01/35, AGM			584,965
	1,080			Miami Beach Hlth. Facs. Auth. Rev.,
				Mt. Sinai Med. Ctr.,
				5.00%, 11/15/39			1,185,019
	500			Miami Beach Redev. Agy. Rev.,
				5.00%, 2/01/40, AGM			573,725
	1,250			Miami-Dade Cnty. Ed. Facs. Auth. Rev.,
				Univ. of Miami,
				5.00%, 4/01/45			1,398,688

The accompanying note is an integral part of this financial statement.

4

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

July 31, 2020

(Unaudited)

Principal         Amount (000)				Description (a)		Value
	$2,220			Miami-Dade Cnty. Sch. Brd. Ref. COP,
				5.00%, 2/01/34			$2,666,997
	250			Miami-Dade Cnty. Aviation Rev.,
				5.00%, 10/01/32
				Prerefunded 10/01/22 @ $100 (b)			274,005
	2,000			Orlando and Orange Cnty. Expwy. Auth. Rev.,
				5.00%, 7/01/35			2,225,500
	1,000			Reedy Creek Impvt. Dist. Gen. Oblig.,
				5.00%, 6/01/38
				Prerefunded 6/01/23 @ $100 (b)			1,136,060
	2,035			Seminole Cnty. Sales Tax Rev.,
				5.25%, 10/01/31, NRE			2,821,039
	2,190			Seminole Cnty. Sch. Brd. COP,
				5.00%, 7/01/33			2,676,202
	830			S. Florida Wtr. Mgmt. Dist. COP,
				5.00%, 10/01/35			991,028
	470			Tallahassee Hlth. Facs. Rev.,
				Tallahassee Memorial Hlthcare.,
				5.00%, 12/01/41			532,261
	665			Tampa-Hillsborough Cnty. Expwy. Auth. Rev.,
				4.00%, 7/01/42			760,979
	985			Tampa-Hillsborough Cnty. Expwy. Auth. Rev.,
				5.00%, 7/01/47			1,192,559
							30,051,917
				Georgia - 0.4%
	500			Atlanta Arpt. Passenger Fac. Charge Gen. Rev.,
				5.00%, 1/01/32			565,365
				Idaho - 0.2%
	240			Idaho St. Hlth. Facs. Auth. Rev.,
				St. Luke’s Hlth. Sys.,
				5.00%, 3/01/37			292,740
				Illinois - 13.2%
	500			Chicago Multi-Family Hsg. Rev.,
				4.90%, 3/20/44, FHA			501,620
	1,000			Chicago O’Hare Intl. Arpt. Rev.,
				Customer Fac. Charge,
				5.125%, 1/01/30, AGM			1,092,210
	620			Chicago O’Hare Intl. Arpt. Rev.,
				5.25%, 1/01/42			737,682
	250			Chicago Sales Tax Rev.,
				5.00%, 1/01/30
				Prerefunded 1/01/25 @ $100 (b)			301,175

The accompanying note is an integral part of this financial statement.

5

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

July 31, 2020

(Unaudited)

Principal         Amount (000)				Description (a)		Value
	$250			Chicago Wtrwks. Rev.,
				5.00%, 11/01/30			$299,110
	650			Chicago Wtrwks. Rev.,
				5.25%, 11/01/32, AGM			792,155
	250			Chicago Wtrwks. Rev.,
				5.00%, 11/01/36, AGM			294,758
	865			Chicago Wtrwks. Rev.,
				5.00%, 11/01/44			957,685
	170			Illinois St. Fin. Auth. Rev.,
				Advocate Hlth. Care Network,
				5.00%, 5/01/45
				Prerefunded 5/01/25 @ $100 (b)			206,961
	1,055			Illinois St. Fin. Auth. Rev.,
				Advocate Hlth. Care Network,
				5.00%, 5/01/45			1,193,648
	525			Illinois St. Fin. Auth. Rev.,
				Northwestern Memorial Hlthcare.,
				(fka Centegra Hlth. Sys.),
				5.00%, 9/01/42			591,575
	520			Illinois St. Fin. Auth. Rev.,
				Northwestern Memorial Hlthcare.,
				5.00%, 8/15/37			560,789
	1,070			Illinois St. Fin. Auth. Rev.,
				Rush Univ. Med. Ctr.,
				4.00%, 11/15/39			1,158,692
	1,000			Illinois St. Fin. Auth. Rev.,
				Rush Univ. Med. Ctr.,
				5.00%, 11/15/39			1,136,840
	1,000			Illinois St. Gen. Oblig.,
				5.00%, 2/01/27			1,145,360
	2,020			Illinois St. Gen. Oblig.,
				5.50%, 1/01/29			2,451,230
	750			Illinois St. Toll Hwy. Auth. Rev.,
				5.00%, 1/01/41			883,133
	330			Railsplitter Tobacco Settlement Auth. Rev.,
				5.00%, 6/01/27			395,287
	1,000			Railsplitter Tobacco Settlement Auth. Rev.,
				6.00%, 6/01/28
				Prerefunded 6/01/21 @ $100 (b)			1,047,780
	1,000			Sales Tax Securitization Corp. Rev.,
				5.00%, 1/01/48			1,143,100
	1,000			Univ. of Illinois Aux. Facs. Sys. Rev.,
				5.00%, 4/01/34			1,113,860
							18,004,650

The accompanying note is an integral part of this financial statement.

6

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

July 31, 2020

(Unaudited)

Principal         Amount (000)				Description (a)		Value
				Indiana - 2.8%
	$240			Indiana St. Fin. Auth. Hosp. Rev.,
				Indiana Univ. Hlth.,
				5.00%, 12/01/28			$279,986
	2,000			Indiana St. Fin. Auth. Hosp. Rev.,
				Parkview Hlth.,
				5.00%, 11/01/43			2,468,040
	1,000			Indiana St. Fin. Auth. Rev.
				State Revolving Fund,
				5.00%, 2/01/31
				Prerefunded 2/01/21 @ $100 (b)			1,023,980
							3,772,006
				Kentucky - 0.8%
	900			Kentucky Bond Dev. Corp.
				Transient Room Tax Rev.,
				5.00%, 9/01/43			1,024,740
				Louisiana - 4.7%
	1,250			Louisiana St. Stadium & Exposition Dist. Rev.,
				5.00%, 7/01/30			1,318,138
	605			Louisiana St. Stadium & Exposition Dist. Rev.,
				5.00%, 7/01/36			631,287
	1,250			Louisiana St. Tran. Auth. Rev.,
				5.00%, 8/15/38			1,405,625
	300			New Orleans Swr. Svc. Rev.,
				5.00%, 6/01/44			340,341
	500			Port of New Orleans Brd. of
				Commissioners Port Fac. Rev.,
				5.00%, 4/01/33
				Prerefunded 4/01/23 @ $100 (b)			559,055
	1,100			Regional Tran. Auth. Sales Tax Rev.,
				5.00%, 12/01/30, AGM			1,114,696
	1,000			Terrebonne Parish Consol. Wtrwks.
				Dist. No. 1 Rev.,
				5.00%, 11/01/37
				Prerefunded 11/01/22 @ $100 (b)			1,105,640
							6,474,782
				Maine - 1.7%
	95			Maine St. Hlth. & Hgr. Edl. Facs. Auth. Rev.,
				5.00%, 7/01/33,
				Prerefunded 7/01/23 @ $100 (b)			107,979
	905			Maine St. Hlth. & Hgr. Edl. Facs. Auth. Rev.,
				5.00%, 7/01/33			994,441

The accompanying note is an integral part of this financial statement.

7

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

July 31, 2020

(Unaudited)

Principal         Amount (000)				Description (a)		Value
	$610			Portland General Arpt. Rev.,
				5.00%, 7/01/31			$670,482
	540			Portland General Arpt. Rev.,
				5.00%, 7/01/32			592,407
							2,365,309
				Maryland - 0.8%
	1,000			Maryland St. Hlth. & Hgr. Edl. Facs. Auth. Rev.,
				Luminis Hlth.,
				5.00%, 7/01/39			1,105,390
				Massachusetts - 6.2%
	3,000			Massachusetts St. Bay Trans. Auth. Rev.,
				5.50%, 7/01/29, NRE			4,224,600
	1,000			Massachusetts St. Gen. Oblig.,
				5.25%, 9/01/25, AGM			1,248,370
	1,000			Massachusetts St. Gen. Oblig.,
				5.50%, 8/01/30, AMBAC			1,432,520
	300			Massachusetts St. Hsg. Fin. Agy. Rev.,
				3.00%, 12/01/45			316,824
	1,000			Massachusetts St. Port Auth. Rev.,
				5.00%, 7/01/47			1,187,810
							8,410,124
				Michigan - 2.6%
	1,000			Holland Elec. Util. Sys. Rev.,
				5.00%, 7/01/39			1,041,760
	550			Michigan St. Fin. Auth. Rev.,
				Beaumont Hlth. Credit Group,
				5.00%, 11/01/44			631,664
	540			Michigan St. Bldg. Auth. Rev.,
				4.00%, 10/15/36			614,466
	1,000			Michigan St. Hsg. Dev. Auth. Rev.,
				2.80%, 12/01/45			1,018,270
	225			Royal Oak Hosp. Fin. Auth. Rev.,
				William Beaumont Hosp.,
				5.00%, 9/01/39			251,575
							3,557,735
				Minnesota - 0.2%
	275			Minnesota St. Hsg. Fin. Agy.,
				2.70%, 7/01/44			285,128
				Mississippi - 0.5%
	600			Mississippi St. Gen. Oblig.,
				4.00%, 10/01/39			725,580

The accompanying note is an integral part of this financial statement.

8

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

July 31, 2020

(Unaudited)

Principal         Amount (000)				Description (a)		Value
				Nebraska - 2.2%
	$500			Nebraska St. Pub. Pwr. Dist. Gen. Rev.,
				5.00%, 1/01/34			$529,325
	1,900			Omaha Gen. Oblig.,
				5.25%, 4/01/27			2,488,506
							3,017,831
				New Jersey - 2%
	400			Camden Cnty. Impvt. Auth. Hlthcare.
				Redev. Rev., Cooper Hlth. Sys.,
				5.00%, 2/15/33			436,076
	240			New Jersey St. Tpk. Auth. Rev.,
				4.00%, 1/01/35			271,037
	1,750			Tobacco Settlement Financing Corp. Rev.,
				5.25%, 6/01/46			2,072,298
							2,779,411
				New York - 10.3%
	1,000			Albany Indl. Dev. Agy. Rev.,
				Brighter Choice Charter Sch.,
				5.00%, 4/01/32			1,000,790
	300			Buffalo and Erie Cnty. Indl. Land. Dev. Rev.,
				Catholic Hlth. Sys.,
				5.25%, 7/01/35			339,762
	700			Long Island Pwr. Auth. Elec. Sys. Gen. Rev.,
				5.00%, 9/01/42			753,837
	530			Long Island Pwr. Auth. Elec. Sys. Gen. Rev.,
				5.00%, 9/01/42			645,683
	600			New York Cntys. Tobacco Trust VI Rev.,
				5.00%, 6/01/45			632,784
	885			New York City Mun. Wtr. Fin. Auth.,
				Wtr. & Swr. Sys. Rev.,
				Adjustable Rate Bond,
				0.17%, 6/15/44			885,000
	1,010			New York City Mun. Wtr. Fin. Auth.,
				Wtr. & Swr. Sys. Rev.,
				5.00%, 6/15/34			1,134,392
	660			New York City Mun. Wtr. Fin. Auth.,
				Wtr. & Swr. Sys. Rev.,
				5.375%, 6/15/43
				Prerefunded 12/15/20 @ $100 (b)			672,566
	340			New York City Mun. Wtr. Fin. Auth.,
				Wtr. & Swr. Sys. Rev.,
				5.375%, 6/15/43			345,712

The accompanying note is an integral part of this financial statement.

9

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

July 31, 2020

(Unaudited)

Principal         Amount (000)				Description (a)		Value
	$1,000			New York City Mun. Wtr. Fin. Auth.,
				Wtr. & Swr. Sys. Rev.,
				5.50%, 6/15/43
				Prerefunded 12/15/20 @ $100 (b)			$1,019,680
	650			New York City Transitional Fin. Auth.,
				Subordinate Rev.,
				3.00%, 5/01/45			690,878
	2,000			New York St. Dorm. Auth.,
				Personal Inc. Tax Rev.,
				5.00%, 03/15/31			2,374,540
	1,000			New York St. Dorm. Auth.,
				Personal Inc. Tax Rev.,
				5.00%, 3/15/42			1,268,180
	900			Port Auth. of New York and New Jersey Rev.,
				5.00%, 6/01/33			1,008,666
	500			Triborough Bridge & Tunnel Auth. Rev.,
				5.00%, 11/15/30			553,230
	195			TSASC Inc. Tobacco Settlement Rev.,
				5.00%, 6/01/34			231,596
	400			Utility Debt Securitization Auth.,
				Restructuring Rev.,
				5.00%, 12/15/31			459,380
							14,016,676
				North Carolina - 0.2%
	250			North Carolina St. Hsg. Fin. Agy. Rev.,
				2.85%, 1/01/43			261,355
				Ohio - 3.5%
	775			Buckeye Tobacco Settlement Fin. Auth. Rev.,
				4.00%, 6/01/48			866,380
	630			Deerfield Twp. Tax Increment Rev.,
				5.00%, 12/01/25			632,192
	570			Northeast Ohio Regl. Swr. Dist. Rev.,
				4.00%, 11/15/43			665,247
	500			Ohio St. Gen. Oblig.,
				5.00%, 9/01/30
				Prerefunded 9/01/20 @ $100 (b)			501,835
	2,000			Ohio St. Hosp. Rev.,
				Univ. Hosp. Hlth. Sys.,
				4.00%, 1/15/44			2,137,320
							4,802,974

The accompanying note is an integral part of this financial statement.

10

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

July 31, 2020

(Unaudited)

Principal         Amount (000)				Description (a)		Value
				Oregon - 1.8%
	$500			Oregon St. Gen. Oblig.,
				5.00%, 5/01/41			$603,910
	570			Port of Portland Intl. Arpt. Rev.,
				5.00%, 7/01/32			644,624
	1,000			Washington Cnty. Sch. Dist. 48J
				(Beaverton), Gen. Oblig.
				5.00%, 6/15/36			1,258,310
							2,506,844
				Pennsylvania - 3.5%
	2,000			Delaware River Port Auth. Rev.,
				5.00%, 1/01/34			2,238,620
	375			Pennsylvania St. Tpk. Commision Rev.,
				6.375%, 12/01/38			479,738
	2,000			Philadelphia Wtr. & Wstwtr. Rev.,
				5.00%, 1/01/41			2,027,700
							4,746,058
				Rhode Island - 2.1%
	1,070			Rhode Island St. Clean Wtr. Fin. Agy.,
				Wtr. Poll. Control Rev. (Green Bonds),
				5.00%, 10/01/32			1,268,710
	1,600			Rhode Island St. Hlth. & Edl. Bldg. Corp.,
				Higher Ed. Facs. Rev.,
				Providence College,
				5.00%, 11/01/41			1,660,800
							2,929,510
				South Carolina - 1.9%
	2,000			Charleston Cnty. Spl. Source Rev.,
				5.00%, 12/01/32			2,290,060
	290			SCAGO Edl. Facs. Corp. Rev.,
				Pickens Cnty. Sch. Dist.,
				5.00%, 12/01/24			342,655
							2,632,715
				Tennessee - 5.2%
	250			Chattanooga-Hamilton Cnty. Hosp. Auth. Rev.,
				Erlanger Hlth. Sys.,
				5.00%, 10/01/34			262,787
	1,620			Tennessee St. Energy Acquisition Corp. Rev.,
				5.25%, 9/01/20			1,625,443
	1,000			Tennessee St. Energy Acquisition Corp. Rev.,
				5.25%, 9/01/21			1,047,960

The accompanying note is an integral part of this financial statement.

11

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

July 31, 2020

(Unaudited)

Principal         Amount (000)				Description (a)		Value
	$560			Tennessee St. Hsg. Dev. Agy.,
				3.625%, 7/01/32			$619,870
	485			Tennessee St. Hsg. Dev. Agy.,
				3.90%, 7/01/42			537,365
	495			Tennessee St. Hsg. Dev. Agy.,
				4.00%, 7/01/43			552,202
	2,000			Tennessee St. Sch. Bond Auth. Rev.,
				5.00%, 11/01/42			2,487,020
							7,132,647
				Texas - 13.5%
	850			Austin Indep. Sch. Dist. Gen. Oblig.,
				4.00%, 8/01/36, PSF			976,752
	650			Dallas Area Rapid Transit Rev.,
				5.00%, 12/01/41			764,127
	500			Houston Arpt. Sys. Rev.,
				5.00%, 7/01/32			532,385
	1,250			Houston Arpt. Sys. Rev.,
				5.00%, 7/01/39			1,543,362
	1,000			Houston Hotel Occupancy Tax & Spl. Rev.,
				5.25%, 9/01/29			1,017,910
	1,410			Houston Util. Sys. Rev.,
				5.00%, 11/15/32
				Prerefunded 11/15/23 @ $100 (b)			1,629,170
	1,625			Keller Indep. Sch. Dist. Gen. Oblig.,
				4.00%, 2/15/47, PSF			1,942,817
	1,000			Klein Indep. Sch. Dist. Gen. Oblig.,
				3.00%, 8/01/46, PSF			1,095,090
	1,000			Lewisville Indep. Sch. Dist. Gen. Oblig.,
				3.00%, 8/15/39, PSF			1,100,630
	1,505			North Texas Twy. Auth. Rev.,
				Convertible CAB,
				0.00%, 9/01/43
				Prerefunded 9/01/31 @ $100 (b)			2,098,662
	1,000			North Texas Twy. Auth. Rev.,
				5.00%, 1/01/31			1,167,620
	1,135			North Texas Twy. Auth. Rev.,
				4.00%, 1/01/43			1,294,717
	700			San Antonio Indep. Sch. Dist. Sch. Bldg.
				Gen. Oblig.,
				5.00%, 8/15/38, PSF			859,313
	250			Spring Branch Indep. Sch. Dist. Sch. Bldg.
				Gen. Oblig.,
				3.00%, 2/01/43, PSF			272,028
	1,000			Texas St. Wtr. Development Brd. Rev.,
				St. Wtr. Implementation Fund,
				4.00%, 10/15/47			1,172,060

The accompanying note is an integral part of this financial statement.

12

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

July 31, 2020

(Unaudited)

Principal         Amount (000)				Description (a)		Value
	$1,000			Upper Trinity Reg. Wtr. Dist. Rev.,
				4.00%, 8/01/37, AGM			$1,057,730
							18,524,373
				Vermont - 2%
	2,000			Univ. of Vermont & St. Agric. College
				Gen. Oblig.,
				5.00%, 10/01/38			2,155,860
	500			Vermont St. Edl. and Hlth. Bldg. Fin. Agy. Rev.,
				Univ. of Vermont Med. Center,
				5.00%, 12/01/35			590,355
							2,746,215
				Virginia - 2.8%
	1,250			Riverside Regl. Jail Auth. Fac. Rev.,
				5.00%, 7/01/26			1,527,387
	2,000			Virginia St. College Bldg. Auth. Rev.,
				5.00%, 2/01/23			2,241,780
							3,769,167
				Washington - 1%
	100			King Cnty. Gen. Oblig.,
				Adjustable Rate Bond,
				0.16%, 1/01/46			100,000
	1,000			King Cnty. Swr. Rev.,
				5.00%, 7/01/41			1,213,720
							1,313,720
				Wisconsin - 1.4%
	1,400			Wisconsin St. Pub. Fin. Auth. Hosp. Rev.,
				Renown Reg. Med. Ctr.,
				5.00%, 6/01/40			1,617,098
	250			Wisconsin St. Pub. Fin. Auth.,
				Solid Waste Disp. Rev.,
				2.875%, 5/01/27			266,143
							1,883,241
				Wyoming - 0.2%
	275			Wyoming St. Farm Loan Brd.
				Cap. Facs. Rev.,
				5.75%, 10/01/20			277,431
				Total Long-Term Investments
				(Cost $183,787,597)			199,692,992
				TOTAL INVESTMENTS - 146%
				(Cost $183,787,597)			199,692,992
				Variable Rate MuniFund Term Preferred Shares at liquidation value - (47.5)%			(65,000,000)
				Other assets less other liabilities - 1.5%			2,057,600
				NET ASSETS APPLICABLE TO COMMON STOCK - 100.0%			$136,750,592

The accompanying note is an integral part of this financial statement.

13

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

July 31, 2020

(Unaudited)

(a) The following abbreviations are used in the portfolio descriptions:

AGM–Assured Guaranty Municipal Corp.*

AMBAC–Ambac Assurance Corporation*

BAM–Build America Mutual Assurance Company*

CAB–Capital Appreciation Bond

COP–Certificate of Participation

FHA–Federal Housing Authority*

NRE–National Public Finance Guarantee Corporation*

PSF–Texas Permanent School Fund*

* Indicates an obligation of credit support, in whole or in part.

(b) Prerefunded and escrowed to maturity issues are secured by escrowed cash, U.S. government obligations, or other securities.

The percentage shown for each investment category is the total value of that category as a percentage of the net assets applicable to common stock of the Fund.

Note 1. Investment Valuation

The Fund’s investments are carried at fair value which is defined as the price that the Fund would receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market of the investment. The three-tier hierarchy of inputs established to classify fair value measurements for disclosure purposes is summarized in the three broad levels listed below.

Level 1 – quoted prices in active markets for identical securities.

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in these securities. For more information about the Fund’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements contained in its semi-annual report. The following is a summary of the inputs used to value each of the Fund’s investments at July 31, 2020:

		Level 2
Municipal bonds		$	199,692,992

There were no Level 1 or Level 3 priced securities held and there were no transfers into or out of Level 3.

Other information regarding the Fund is available on the Fund’s website at www.dpimc.com/dtf or the Securities and Exchange Commission’s website at www.sec.gov.

14