HTML

NPORT-EX 2 NPORT_2167433090552752.htm HTML

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS

January 31, 2021

(Unaudited)


Principal Amount (000)		Description (a)	Value



		LONG-TERM INVESTMENTS - 155.0%

		Alabama - 2.1%
	$2,000	Jefferson Cnty. Brd. of Ed. Pub. Sch.
		Warrants,
		5.00%, 2/01/46		$2,443,060


		Alaska - 0.3%
	290	Anchorage Elec. Util. Rev.,
		Prerefunded 12/01/24 @ $100 (b)
		5.00%, 12/01/36		341,872


		Arizona - 4.6%
	1,350	Arizona Brd. of Regents Rev.,
		Arizona St. Univ.,
		5.00%, 7/01/37		1,629,598
	650	Arizona St. Hlth. Fac. Auth. Rev.,
		Scottsdale Lincoln Hosp. Proj.,
		5.00%, 12/01/42		743,938
	1,000	Maricopa Cnty. Indl. Dev. Auth. Rev.,
		Banner Hlth.,
		4.00%, 1/01/34		1,153,610
	190	Northern Arizona Univ. Rev.,
		5.00%, 6/01/40
		Prerefunded 6/01/24 @ $100 (b)		219,708
	310	Northern Arizona Univ. Rev.,
		5.00%, 6/01/40		345,120
	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)		1,119,510

				5,211,484


		California - 18.8%
	1,150	California St. Hlth. Facs. Fin. Auth. Rev.,
		Kaiser Permanente,
		4.00%, 11/01/44		1,342,510
	330	California St. Hlth. Facs. Fin. Auth. Rev.,
		Providence St. Joseph Hlth.,
		4.00%, 10/01/36		380,962
	1,500	California St. Hlth. Facs. Fin. Auth. Rev.,
		Sutter Hlth.,
		5.00%, 11/15/46
		Prerefunded 11/15/25 @ $100 (b)		1,835,550
	100	California St. Muni. Fin. Auth. Student
		Hsg. Rev., Bowles Hall Foundation,
		5.00%, 6/01/35		108,300

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

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

January 31, 2021

(Unaudited)


Principal Amount (000)		Description (a)	Value



	$1,000	California St. Gen. Oblig.,
		5.00% 10/01/28		$1,171,400
	1,000	California St. Pub. Wks. Brd. Lease Rev.,
		Dept. of Corrections and Rehab.,
		5.25%, 9/01/29		1,126,840
	600	Contra Costa Cnty. Successor Agy.
		to Redev. Agy., Tax Allocation,
		5.00%, 8/01/35, BAM		739,560
	1,000	Garden Grove Successor Agy. to Agy.
		Cmty. Dev., Tax Allocation,
		5.00%, 10/01/31, BAM		1,200,830
	2,000	Gilroy Unified Sch. Dist. Gen. Oblig.,
		4.00%, 8/01/41		2,285,860
	280	Lancaster Successor Agy. to Redev. Agy.,
		Tax Allocation,
		5.00%, 8/01/33, AGM		332,800
	250	Palm Desert Successor Agy. to Redev.
		Agy., Tax Allocation,
		5.00%, 10/01/28, BAM		310,467
	2,550	Riverside Cnty. Sngl. Fam. Rev.,
		7.80%, 5/01/21,
		Escrowed to maturity (b)		2,596,359
	1,215	San Marcos Successor Agy. to Redev.
		Agy., Tax Allocation,
		5.00%, 10/01/32		1,456,712
	2,000	San Mateo Successor Agy. to Redev.
		Agy., Tax Allocation,
		5.00%, 8/01/30		2,332,120
	1,000	Santa Clarita Cmnty. Clg. Dist. Gen. Oblig.,
		3.00%, 8/01/49		1,074,540
	1,000	Temple City Unified Sch. Dist. Gen. Oblig.,
		4.00%, 8/01/43		1,136,260
	1,750	Univ. of California Rev.,
		4.00%, 5/15/48		2,046,205

				21,477,275


		Colorado - 4.5%
	405	Colorado St. Hsg. & Fin. Auth. Rev.,
		3.60%, 11/01/38		433,917
	1,000	Eagle River Wtr. & Santn. Dist.
		Enterprise Wstwtr. Rev.,
		5.00%, 12/01/42
		Prerefunded 12/01/22 @ $100 (b)		1,087,470

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

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

January 31, 2021

(Unaudited)


Principal Amount (000)		Description (a)	Value



	$1,900	Public Auth. for Colorado Energy,
		Natural Gas Purch. Rev.,
		6.25%, 11/15/28		$2,426,585
	1,000	Univ. of Colorado Enterprise Rev.,
		4.00%, 6/01/43		1,157,880

				5,105,852


		Connecticut - 9.1%
	900	Connecticut St. Gen. Oblig.,
		5.00%, 9/15/35		1,146,366
	705	Connecticut St. Gen. Oblig.,
		4.00%, 4/15/38		840,980
	700	Connecticut St. Hlth. & Edl. Facs. Auth.
		Rev., Hartford HlthCare.,
		5.00%, 7/01/32
		Prerefunded 7/01/21 @ $100 (b)		713,979
	1,000	Connecticut St. Hlth. & Edl. Facs. Auth.
		Rev., Hartford HlthCare.,
		5.00%, 7/01/41
		Prerefunded 7/01/21 @ $100 (b)		1,019,970
	500	Connecticut St. Hlth. & Edl. Facs. Auth.
		Rev., Univ. of New Haven,
		5.00%, 7/01/43		583,280
	550	Connecticut St. Hlth. & Edl. Facs. Auth.
		Rev., Yale-New Haven Hosp.,
		5.00%, 7/01/48		595,903
	250	Connecticut St. Hgr. Edu. Supplemental
		Loan Auth. Rev.,
		3.25%, 11/15/36		258,715
	570	Connecticut St. Hsg. Auth. Rev.,
		3.00%, 5/15/33		617,276
	500	Connecticut St. Hsg. Auth. Rev.,
		3.20%, 11/15/33		541,205
	1,255	Connecticut St. Spl. Tax Oblig. Rev.,
		3.125%, 5/01/40		1,376,246
	1,000	S. Central Connecticut Reg. Wtr. Auth. Rev.,
		5.00%, 8/01/41
		Prerefunded 8/01/21 @ $100 (b)		1,024,500
	1,300	Univ. of Connecticut Spec. Oblig. Rev.,
		5.00%, 11/15/43		1,626,248

				10,344,668


		District of Columbia - 1.1%
	1,000	District of Columbia Gen. Oblig.,
		5.00%, 6/01/43		1,263,480

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

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

January 31, 2021

(Unaudited)


Principal Amount (000)		Description (a)	Value

		Florida - 23.3%
	$755	Brevard Cnty. Sch. Brd. Ref. COP,
		5.00%, 7/01/32		$936,200
	750	Broward Cnty. Port Fac. Rev.,
		4.00%, 9/01/49		855,090
	1,000	Central Florida Expwy. Auth. Rev.,
		4.00%, 7/01/36		1,142,840
	1,175	Escambia Cnty. Hlth. Fac. Auth. Rev.,
		Baptist Hosp.,
		3.00%, 8/15/50, AGM		1,238,133
	2,000	Florida St. Brd. of Ed. Cap. Outlay
		Gen. Oblig.,
		5.00%, 6/01/41		2,032,580
	2,350	Florida St. Brd. of Gov. Florida State Univ.
		Dorm Rev.,
		5.00%, 5/01/33		2,587,185
	1,000	Hillsborough Cnty. Aviation Auth. Rev.,
		Tampa Int’l. Arpt.,
		5.00%, 10/01/44		1,131,440
	500	Lee Cnty. Tran. Fac. Rev.,
		5.00%, 10/01/35, AGM		575,805
	1,080	Miami Beach Hlth. Facs. Auth. Rev.,
		Mt. Sinai Med. Ctr.,
		5.00%, 11/15/39		1,196,629
	500	Miami Beach Redev. Agy. Rev.,
		5.00%, 2/01/40, AGM		561,895
	1,250	Miami-Dade Cnty. Ed. Facs. Auth. Rev.,
		Univ. of Miami,
		5.00%, 4/01/45		1,405,137
	2,220	Miami-Dade Cnty. Sch. Brd. Ref. COP,
		5.00%, 2/01/34		2,635,739
	250	Miami-Dade Cnty. Aviation Rev.,
		5.00%, 10/01/32
		Prerefunded 10/01/22 @ $100 (b)		269,312
	1,000	Reedy Creek Impvt. Dist. Gen. Oblig.,
		5.00%, 6/01/38
		Prerefunded 6/01/23 @ $100 (b)		1,113,040
	2,035	Seminole Cnty. Sales Tax Rev.,
		5.25%, 10/01/31, NRE		2,779,647

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

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

January 31, 2021

(Unaudited)


Principal Amount (000)		Description (a)	Value

	$2,190	Seminole Cnty. Sch. Brd. COP,
		5.00%, 7/01/33		$2,660,324
	830	S. Florida Wtr. Mgmt. Dist. COP,
		5.00%, 10/01/35		996,938
	470	Tallahassee Hlth. Facs. Rev.,
		Tallahassee Memorial Hlthcare.,
		5.00%, 12/01/41		528,068
	665	Tampa-Hillsborough Cnty. Expwy. Auth. Rev.,
		4.00%, 7/01/42		764,245
	985	Tampa-Hillsborough Cnty. Expwy. Auth. Rev.,
		5.00%, 7/01/47		1,183,300

				26,593,547


		Georgia - 0.5%
	500	Atlanta Arpt. Passenger Fac. Charge Gen. Rev.,
		5.00%, 1/01/32		561,765


		Idaho - 0.3%
	240	Idaho St. Hlth. Facs. Auth. Rev.,
		St. Luke’s Hlth. Sys.,
		5.00%, 3/01/37		297,415


		Illinois - 16%
	500	Chicago Multi-Family Hsg. Rev.,
		4.90%, 3/20/44, FHA		501,775
	1,000	Chicago O’Hare Intl. Arpt. Rev.,
		Customer Fac. Charge,
		5.125%, 1/01/30, AGM		1,087,450
	620	Chicago O’Hare Intl. Arpt. Rev.,
		5.25%, 1/01/42		752,767
	250	Chicago Sales Tax Rev.,
		5.00%, 1/01/30
		Prerefunded 1/01/25 @ $100 (b)		296,007
	250	Chicago Wtrwks. Rev.,
		5.00%, 11/01/30		297,375
	650	Chicago Wtrwks. Rev.,
		5.25%, 11/01/32, AGM		824,102
	250	Chicago Wtrwks. Rev.,
		5.00%, 11/01/36, AGM		309,975
	865	Chicago Wtrwks. Rev.,
		5.00%, 11/01/44		970,132
	170	Illinois St. Fin. Auth. Rev.,
		Advocate Hlth. Care Network,
		5.00%, 5/01/45
		Prerefunded 5/01/25 @ $100 (b)		203,216

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

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

January 31, 2021

(Unaudited)


Principal Amount (000)		Description (a)	Value

	$1,055	Illinois St. Fin. Auth. Rev.,
		Advocate Hlth. Care Network,
		5.00%, 5/01/45		$1,191,116
	525	Illinois St. Fin. Auth. Rev.,
		Northwestern Memorial Hlthcare.,
		(fka Centegra Hlth. Sys.),
		5.00%, 9/01/42		587,186
	520	Illinois St. Fin. Auth. Rev.,
		Northwestern Memorial Hlthcare.,
		5.00%, 8/15/37		552,464
	1,070	Illinois St. Fin. Auth. Rev.,
		Rush Univ. Med. Ctr.,
		4.00%, 11/15/39		1,167,959
	1,000	Illinois St. Fin. Auth. Rev.,
		Rush Univ. Med. Ctr.,
		5.00%, 11/15/39		1,152,760
	1,000	Illinois St. Gen. Oblig.,
		5.00%, 2/01/27		1,200,050
	2,020	Illinois St. Gen. Oblig.,
		5.50%, 1/01/29		2,581,944
	750	Illinois St. Toll Hwy. Auth. Rev.,
		5.00%, 1/01/41		900,090
	330	Railsplitter Tobacco Settlement Auth. Rev.,
		5.00%, 6/01/27		401,231
	1,000	Railsplitter Tobacco Settlement Auth. Rev.,
		6.00%, 6/01/28
		Prerefunded 6/01/21 @ $100 (b)		1,019,600
	1,000	Sales Tax Securitization Corp. Rev.,
		5.00%, 1/01/48		1,189,270
	1,000	Univ. of Illinois Aux. Facs. Sys. Rev.,
		5.00%, 4/01/34		1,127,840

				18,314,309


		Indiana - 3.3%
	240	Indiana St. Fin. Auth. Hosp. Rev.,
		Indiana Univ. Hlth.,
		5.00%, 12/01/28		278,669
	2,000	Indiana St. Fin. Auth. Hosp. Rev.,
		Parkview Hlth.,
		5.00%, 11/01/43		2,484,920
	1,000	Indiana St. Fin. Auth. Rev.
		State Revolving Fund,
		5.00%, 2/01/31
		Prerefunded 2/01/21 @ $100 (b)		1,000,000

				3,763,589

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

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

January 31, 2021

(Unaudited)


Principal Amount (000)		Description (a)	Value

		Kentucky - 1%
	$900	Kentucky Bond Dev. Corp.
		Transient Room Tax Rev.,
		5.00%, 9/01/43		$1,057,365


		Louisiana - 4.7%
	1,250	Louisiana St. Stadium & Exposition Dist. Rev.,
		5.00%, 7/01/30		1,356,700
	605	Louisiana St. Stadium & Exposition Dist. Rev.,
		5.00%, 7/01/36		651,833
	1,250	Louisiana St. Tran. Auth. Rev.,
		5.00%, 8/15/38
		Prerefunded 8/15/23 @ $100 (b)		1,401,700
	300	New Orleans Swr. Svc. Rev.,
		5.00%, 6/01/44		336,435
	500	Port of New Orleans Brd. of
		Commissioners Port Fac. Rev.,
		5.00%, 4/01/33
		Prerefunded 4/01/23 @ $100 (b)		548,705
	1,000	Terrebonne Parish Consol. Wtrwks.
		Dist. No. 1 Rev.,
		5.00%, 11/01/37
		Prerefunded 11/01/22 @ $100 (b)		1,083,490

				5,378,863


		Maine - 2.1%
	95	Maine St. Hlth. & Hgr. Edl. Facs. Auth. Rev.,
		5.00%, 7/01/33,
		Prerefunded 7/01/23 @ $100 (b)		105,755
	905	Maine St. Hlth. & Hgr. Edl. Facs. Auth. Rev.,
		5.00%, 7/01/33		988,215
	610	Portland General Arpt. Rev.,
		5.00%, 7/01/31		664,412
	540	Portland General Arpt. Rev.,
		5.00%, 7/01/32		587,223

				2,345,605


		Maryland - 1%
	1,000	Maryland St. Hlth. & Hgr. Edl. Facs. Auth. Rev.,
		Luminis Hlth.,
		5.00%, 7/01/39		1,124,860


		Massachusetts - 6.2%
	3,000	Massachusetts St. Bay Trans. Auth. Rev.,
		5.50%, 7/01/29, NRE		4,168,470
	1,000	Massachusetts St. Gen. Oblig.,
		5.50%, 8/01/30, AMBAC		1,413,670

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

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

January 31, 2021

(Unaudited)


Principal Amount (000)		Description (a)	Value

	$300	Massachusetts St. Hsg. Fin. Agy. Rev.,
		3.00%, 12/01/45		$316,677
	1,000	Massachusetts St. Port Auth. Rev.,
		5.00%, 7/01/47		1,212,840

				7,111,657


		Michigan - 3.1%
	1,000	Holland Elec. Util. Sys. Rev.,
		5.00%, 7/01/39		1,019,130
	550	Michigan St. Fin. Auth. Rev.,
		Beaumont Hlth. Credit Group,
		5.00%, 11/01/44		637,830
	540	Michigan St. Bldg. Auth. Rev.,
		4.00%, 10/15/36		616,831
	1,000	Michigan St. Hsg. Dev. Auth. Rev.,
		2.80%, 12/01/45		1,047,570
	225	Royal Oak Hosp. Fin. Auth. Rev.,
		William Beaumont Hosp.,
		5.00%, 9/01/39		252,113

				3,573,474


		Minnesota - 0.2%
	255	Minnesota St. Hsg. Fin. Agy.,
		2.70%, 7/01/44		265,787


		Mississippi - 0.6%
	600	Mississippi St. Gen. Oblig.,
		4.00%, 10/01/39		731,850


		Nebraska - 2.6%
	500	Nebraska St. Pub. Pwr. Dist. Gen. Rev.,
		5.00%, 1/01/34		519,160
	1,900	Omaha Gen. Oblig.,
		5.25%, 4/01/27		2,459,018

				2,978,178


		New Jersey - 2.5%
	400	Camden Cnty. Impvt. Auth. Hlthcare.
		Redev. Rev., Cooper Hlth. Sys.,
		5.00%, 2/15/33		439,416
	240	New Jersey St. Tpk. Auth. Rev.,
		4.00%, 1/01/35		280,548
	1,750	Tobacco Settlement Financing Corp. Rev.,
		5.25%, 6/01/46		2,158,660

				2,878,624

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

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

January 31, 2021

(Unaudited)


Principal Amount (000)		Description (a)	Value

		New York - 8.8%
	$1,000	Albany Indl. Dev. Agy. Rev.,
		Brighter Choice Charter Sch.,
		5.00%, 4/01/32		$1,001,890
	300	Buffalo and Erie Cnty. Indl. Land. Dev. Rev.,
		Catholic Hlth. Sys.,
		5.25%, 7/01/35		343,221
	235	Long Island Pwr. Auth. Elec. Sys. Gen. Rev.,
		5.00%, 9/01/42
		Prerefunded 9/01/22 @ $100 (b)		253,220
	465	Long Island Pwr. Auth. Elec. Sys. Gen. Rev.,
		5.00%, 9/01/42		497,513
	530	Long Island Pwr. Auth. Elec. Sys. Gen. Rev.,
		5.00%, 9/01/42		652,022
	600	New York Cntys. Tobacco Trust VI Rev.,
		5.00%, 6/01/45		650,376
	750	New York City Transitional Fin. Auth. Rev.,
		Adjustable Rate Bond,
		0.01%, 2/01/45		750,000
	1,185	New York City Transitional Fin. Auth. Rev.,
		3.00%, 5/01/45		1,270,166
	2,000	New York St. Dorm. Auth.,
		Personal Inc. Tax Rev.,
		5.00%, 03/15/31		2,367,580
	900	Port Auth. of New York and New Jersey Rev.,
		5.00%, 6/01/33		1,009,701
	500	Triborough Bridge & Tunnel Auth. Rev.,
		5.00%, 11/15/30		547,895
	195	TSASC Inc. Tobacco Settlement Rev.,
		5.00%, 6/01/34		237,647
	400	Utility Debt Securitization Auth.,
		Restructuring Rev.,
		5.00%, 12/15/31		452,960

				10,034,191


		North Carolina - 0.2%
	250	North Carolina St. Hsg. Fin. Agy. Rev.,
		2.85%, 1/01/43		263,570


		Ohio - 1.9%
	775	Buckeye Tobacco Settlement Fin. Auth. Rev.,
		4.00%, 6/01/48		899,876
	570	Northeast Ohio Regl. Swr. Dist. Rev.,
		4.00%, 11/15/43		665,264
	600	Ohio St. Hsg. Fin. Agy. Rev.,
		2.45%, 9/01/45		618,012

				2,183,152

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

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

January 31, 2021

(Unaudited)


Principal Amount (000)		Description (a)	Value

		Oregon - 2.2%
	$500	Oregon St. Gen. Oblig.,
		5.00%, 5/01/41		$601,015
	570	Port of Portland Intl. Arpt. Rev.,
		5.00%, 7/01/32		644,795
	1,000	Washington Cnty. Sch. Dist. 48J
		(Beaverton), Gen. Oblig.
		5.00%, 6/15/36		1,246,920

				2,492,730


		Pennsylvania - 2.4%
	2,000	Delaware River Port Auth. Rev.,
		5.00%, 1/01/34		2,242,740
	375	Pennsylvania St. Tpk. Commision Rev.,
		6.375%, 12/01/38		501,450

				2,744,190


		Rhode Island - 2.5%
	1,070	Rhode Island St. Clean Wtr. Fin. Agy.,
		Wtr. Poll. Control Rev. (Green Bonds),
		5.00%, 10/01/32		1,249,557
	1,600	Rhode Island St. Hlth. & Edl. Bldg. Corp.,
		Higher Ed. Facs. Rev.,
		Providence College,
		5.00%, 11/01/41		1,640,336

				2,889,893


		South Carolina - 2.3%
	2,000	Charleston Cnty. Spl. Source Rev.,
		5.00%, 12/01/32		2,248,580
	290	SCAGO Edl. Facs. Corp. Rev.,
		Pickens Cnty. Sch. Dist.,
		5.00%, 12/01/24		341,037

				2,589,617


		Tennessee - 4.6%
	250	Chattanooga-Hamilton Cnty. Hosp. Auth. Rev.,
		Erlanger Hlth. Sys.,
		5.00%, 10/01/34		276,385
	1,000	Tennessee St. Energy Acquisition Corp. Rev.,
		5.25%, 9/01/21		1,028,750
	455	Tennessee St. Hsg. Dev. Agy.,
		3.625%, 7/01/32		485,362
	445	Tennessee St. Hsg. Dev. Agy.,
		3.90%, 7/01/42		492,619

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

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

January 31, 2021

(Unaudited)


Principal Amount (000)		Description (a)	Value

	$475	Tennessee St. Hsg. Dev. Agy.,
		4.00%, 7/01/43		$531,088
	2,000	Tennessee St. Sch. Bond Auth. Rev.,
		5.00%, 11/01/42		2,482,300

				5,296,504


		Texas - 16.6%
	850	Austin Indep. Sch. Dist. Gen. Oblig.,
		4.00%, 8/01/36, PSF		988,355
	500	Cypress-Fairbanks Indep. Sch. Dist. Gen. Oblig.,
		2.25%, 2/15/43, PSF		520,985
	500	Cypress-Fairbanks Indep. Sch. Dist. Gen. Oblig.,
		2.25%, 2/15/44, PSF		519,550
	500	Cypress-Fairbanks Indep. Sch. Dist. Gen. Oblig.,
		2.25%, 2/15/45, PSF		517,625
	650	Dallas Area Rapid Transit Rev.,
		5.00%, 12/01/41		776,399
	500	Houston Arpt. Sys. Rev.,
		5.00%, 7/01/32
		Prerefunded 7/01/22 @ $100 (b)		532,465
	1,250	Houston Arpt. Sys. Rev.,
		5.00%, 7/01/39		1,538,913
	1,000	Houston Hotel Occupancy Tax & Spl. Rev.,
		5.25%, 9/01/29		1,020,120
	1,410	Houston Util. Sys. Rev.,
		5.00%, 11/15/32
		Prerefunded 11/15/23 @ $100 (b)		1,600,054
	1,625	Keller Indep. Sch. Dist. Gen. Oblig.,
		4.00%, 2/15/47, PSF		1,937,796
	1,000	Klein Indep. Sch. Dist. Gen. Oblig.,
		3.00%, 8/01/46, PSF		1,124,330
	1,000	Lewisville Indep. Sch. Dist. Gen. Oblig.,
		3.00%, 8/15/39, PSF		1,103,850
	1,505	North Texas Twy. Auth. Rev.,
		Convertible CAB,
		0.00%, 9/01/43
		Prerefunded 9/01/31 @ $100 (b)		2,118,408
	1,135	North Texas Twy. Auth. Rev.,
		4.00%, 1/01/43		1,301,663
	700	San Antonio Indep. Sch. Dist. Sch. Bldg.
		Gen. Oblig.,
		5.00%, 8/15/38, PSF		853,874

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

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

January 31, 2021

(Unaudited)


Principal Amount (000)		Description (a)	Value

	$250	Spring Branch Indep. Sch. Dist. Sch. Bldg.
		Gen. Oblig.,
		3.00%, 2/01/43, PSF		$271,478
	1,000	Texas St. Wtr. Development Brd. Rev.,
		St. Wtr. Implementation Fund,
		4.00%, 10/15/47		1,175,700
	1,000	Upper Trinity Reg. Wtr. Dist. Rev.,
		4.00%, 8/01/37, AGM		1,043,880

				18,945,445


		Vermont - 0.5%
	500	Vermont St. Edl. and Hlth. Bldg. Fin. Agy. Rev.,
		Univ. of Vermont Med. Center,
		5.00%, 12/01/35		594,820


		Virginia - 1.9%
	2,000	Virginia St. College Bldg. Auth. Rev.,
		5.00%, 2/01/23		2,195,060


		Washington - 1.5%
	1,700	King Cnty. Gen. Oblig.,
		Adjustable Rate Bond,
		0.01%, 1/01/46		1,700,000


		Wisconsin - 1.7%
	1,400	Wisconsin St. Pub. Fin. Auth. Hosp. Rev.,
		Renown Reg. Med. Ctr.,
		5.00%, 6/01/40		1,643,068
	250	Wisconsin St. Pub. Fin. Auth.,
		Solid Waste Disp. Rev.,
		2.875%, 5/01/27		276,468

				1,919,536


		Total Long-Term Investments
		(Cost $161,424,129)		177,013,287


		TOTAL INVESTMENTS - 155.0%
		(Cost $161,424,129)		177,013,287
		Remarketable Variable Rate MuniFund Term Preferred Shares at liquidation value - (56.9)%		(65,000,000)
		Other assets less other liabilities - 1.9%		2,127,436

		NET ASSETS APPLICABLE TO COMMON STOCK - 100.0%		$114,140,723

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

DTF TAX-FREE INCOME INC.

SCHEDULE OF INVESTMENTS — (Continued)

January 31, 2021

(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 might reasonably expect to 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 annual report. The following is a summary of the inputs used to value each of the Fund’s investments at January 31, 2021:


	Level 2
Municipal bonds	$	177,013,287

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.