# EDGAR Filing Document

**Accession Number:** 0000879535
**File Stem:** 0000940400-26-026149
**Filing Date:** 2026-6
**Character Count:** 38170
**Document Hash:** f646e3fbc2e9fd46e9362ec131925682
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-026149.hdr.sgml**: 20260626

**ACCESSION NUMBER**: 0000940400-26-026149

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260626

**DATE AS OF CHANGE**: 20260626

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DTF TAX-FREE INCOME 2028 TERM FUND INC
- **CENTRAL INDEX KEY:** 0000879535

**ORGANIZATION NAME:**
- **EIN:** 363793962
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06416
- **FILM NUMBER:** 261128526

**BUSINESS ADDRESS:**
- **STREET 1:** 101 MUNSON STREET
- **CITY:** GREENFIELD
- **STATE:** MA
- **ZIP:** 01301
- **BUSINESS PHONE:** (800) 338-8214

**MAIL ADDRESS:**
- **STREET 1:** 101 MUNSON STREET
- **CITY:** GREENFIELD
- **STATE:** MA
- **ZIP:** 01301

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DTF TAX-FREE INCOME INC
- **DATE OF NAME CHANGE:** 20030625

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DUFF & PHELPS UTILITIES TAX FREE INCOME INC
- **DATE OF NAME CHANGE:** 19920929

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** DTF TAX-FREE INCOME 2028 TERM FUND INC

- **b. Investment Company Act file number:** 811-06416

- **c. CIK number of Registrant:** 0000879535

- **d. LEI of Registrant:** 549300UTPMUSB8BKGI82

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 10 SOUTH WACKER DRIVE

  - **City:** CHICAGO

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606-7453

  - **Telephone number:** 866-668-8552

**Item A.2. Information about the Series.**

- **a. Name of Series:** DTF Tax-Free Income 2028 Term Fund INC

- **c. LEI of Series:** 549300UTPMUSB8BKGI82

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-04-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $87567278.78

**Total Liabilities:** $2916704.63

**Net Assets:** $84650574.15

**Delayed Delivery Securities:** $2728625.70

**Cash Not Reported:** $2294246.25

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -68.76725374 | **1-Year:** -724.82788340 | **5-Year:** -7371.79395400 | **10-Year:** -5905.89027800 | **30-Year:** -2309.01176100

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** -31.54404525 | **5-Year:** -29.92832250 | **10-Year:** 0.00000000 | **30-Year:** -813.42220220

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | 0.43%                | -0.96%               | 0.27%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $50149.93                | $190513.57                                 |
| Month 2  | $9748.15                 | $-980017.50                                |
| Month 3  | $6795.48                 | $57748.08                                  |

### Schedule of Portfolio Investments

| Name                                                                              | Title                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PUBLIC FINANCE AUTHORITY (WI)                                                     | WI PUBFIN 2.88 05/01/2027 | CUSIP: 74445MAB5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    250000 | PA      | $248332.18    | 0.29%             | 2027-05-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| GRAND PARKWAY TRANSPORTATION CORP (TX)                                            | TX GPTTRN 10/01/2052      | CUSIP: 38611TDR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1289126.13   | 1.52%             | 2052-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY                                                           | CO DENAPT 5.5 11/15/2030  | CUSIP: 249182SY3<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1108421.90   | 1.31%             | 2030-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY ALA WTRWKS & SAN SWR BRD                                               | AL MONUTL 5 09/01/2027    | CUSIP: 613105MN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $309218.91    | 0.37%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS (IL), STATE OF                                                           | IL ILS 5 11/01/2026       | CUSIP: 452152Q61<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    160000 | PA      | $161699.70    | 0.19%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                                                                    | CT CTSGEN 5 07/01/2027    | CUSIP: 207758Y23<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |    750000 | PA      | $770468.25    | 0.91%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST                                                                           | OH OHS 5 03/01/2028       | CUSIP: 677523SC7<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3136432.80   | 3.71%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DORMITORY AUTHORITY OF THE STATE OF NEW YORK (NY)                                 | NY NYSHGR 5 03/15/2028    | CUSIP: 64990F5X8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    750000 | PA      | $784010.85    | 0.93%             | 2028-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RALEIGH-DURHAM AIRPORT AUTHORITY (NC)                                             | NC RALAPT 5 05/01/2026    | CUSIP: 751073JT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $625000.00    | 0.74%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVERNMENT OF NASHVILLE & DAVIDSON INDUSTRIAL DEVELOPMENT BOARD (TN) | TN METPWR 5 05/15/2028    | CUSIP: 592030S50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1048620.60   | 1.24%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA (GA), STATE OF                                                            | GA GAS 5 02/01/2028       | CUSIP: 373385AL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $508943.20    | 0.60%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TEX                                                                        | TX AUSUTL 5 11/15/2027    | CUSIP: 052477P42<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1503328.83   | 1.78%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HOUSING FINANCE AUTHORITY (CT)                                  | CT CTSHSG 3 05/15/2033    | CUSIP: 20775C2M5<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    390000 | PA      | $365235.51    | 0.43%             | 2033-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DORMITORY AUTHORITY OF THE STATE OF NEW YORK (NY)                                 | NY NYSHGR 5 10/01/2026    | CUSIP: 65000BW53<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $505029.45    | 0.60%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OMAHA (NE), CITY OF                                                               | NE OMA 5.25 04/01/2027    | CUSIP: 681712PR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1925000 | PA      | $1972188.68   | 2.33%             | 2027-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JACKSON COUNTY SCHOOL DISTRICT (GA)                                               | GA JACSCD 5 03/01/2028    | CUSIP: 466784EB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044743.60   | 1.23%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE PROPERTY AND BUILDINGS COMMISSION (KY)                                      | KY KYSFAC 5 11/01/2026    | CUSIP: 49151FNK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1279054.28   | 1.51%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BENTONVILLE ARK                                                                   | AR BNVGEN 5 11/01/2026    | CUSIP: 083422DP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $510409.21    | 0.60%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OREGON STATE DEPARTMENT ADMINISTRATIVE SERVICES (OR)                              | OR ORSGEN 5 04/01/2028    | CUSIP: 68607V6A8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047224.20   | 1.24%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEMPHIS-SHELBY COUNTY AIRPORT AUTHORITY (TN)                                      | TN MEMAPT 5 07/01/2026    | CUSIP: 586111PY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003500.20   | 1.19%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CORP                                                  | TX ARLEDU 5 08/15/2026    | CUSIP: 041807EM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $352005.47    | 0.42%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST                                                                      | LA LAS 5 12/01/2029       | CUSIP: 546417JK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2165836.40   | 2.56%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DISTRICT (THE) (AL)                                         | AL BBEUTL 5 12/01/2027    | CUSIP: 09182THK6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    500000 | PA      | $511002.00    | 0.60%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA HOUSING FINANCE AGENCY (MN)                                             | MN MNSHSG 2.7 07/01/2044  | CUSIP: 60416S6R6<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    200000 | PA      | $160666.64    | 0.19%             | 2044-07-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| PUBLIC AUTHORITY FOR COLORADO ENERGY (CO)                                         | CO PUBUTL 6.25 11/15/2028 | CUSIP: 744387AC5<br>LEI: 549300C6IJKXQOMRAB11 | Long             | DBT              | MUN               | US        |   1405000 | PA      | $1467923.35   | 1.73%             | 2028-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRANSN DIST COLO                                                         | CO REGTRN 5 06/01/2026    | CUSIP: 75913TKP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001876.60   | 1.18%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CARROLL CITY-CNTY HOSP AUTH GA                                                    | GA CRRMED 5 07/01/2033    | CUSIP: 144709LM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1425720.87   | 1.68%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA RURAL WTR FIN AUTH                                                      | MN MNSWTR 3.3 08/01/2026  | CUSIP: 60411PBE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000251.40   | 2.36%             | 2026-08-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WATER AUTHORITY (MI)                                                  | MI GRTWTR 5 07/01/2028    | CUSIP: 39081JAH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1055000 | PA      | $1058965.32   | 1.25%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALDINE TEX INDPT SCH DIST                                                         | TX ALDSCD 5 02/15/2028    | CUSIP: 014393D58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259786.15    | 0.31%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL PK DIST                                                               | IL CHIFAC 5 01/01/2027    | CUSIP: 1676155N9<br>LEI: 549300DNSTZGBZLIU409 | Long             | DBT              | MUN               | US        |    500000 | PA      | $507146.55    | 0.60%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEXAS TOLLWAY AUTHORITY (THE)                                               | TX NRTTRN 7 09/01/2043    | CUSIP: 66285WHF6<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   1505000 | PA      | $1776538.27   | 2.10%             | 2043-09-01      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST                                                                          | TX TXS 5 10/01/2027       | CUSIP: 882725CR3<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034258.30   | 1.22%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST                                                                           | OH OHSGEN 5 12/15/2027    | CUSIP: 677581KD1<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    645000 | PA      | $669101.20    | 0.79%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA (PA), CITY OF                                                        | PA PHI 5 08/01/2028       | CUSIP: 717813C31<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051869.50   | 1.24%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALACHUA COUNTY HOUSING FINANCE AUTHORITY (FL)                                     | FL ALAMFH 12/01/2029      | CUSIP: 01068LAS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2004497.00   | 2.37%             | 2029-12-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| MIAMI BEACH HEALTH FACILITIES AUTHORITY (FL)                                      | FL MMBMED 5 11/15/2039    | CUSIP: 593211EW1<br>LEI: 549300MFT7I1HF5VL403 | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1081235.52   | 1.28%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BEXAR CNTY TEX HOSP DIST                                                          | TX BEXMED 5 02/15/2027    | CUSIP: 088365MD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016368.20   | 1.20%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST COMM CORP                                                         | RI RHDGEN 5 05/15/2032    | CUSIP: 762232BX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1666784.10   | 1.97%             | 2032-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHELBY (TN), COUNTY OF                                                            | TN SHE 5 04/01/2027       | CUSIP: 8216863D2<br>LEI: 5493000UVZ1EF2SIPO10 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021988.40   | 1.21%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST CAP IMPT AUTH                                                         | OK OKSGEN 5 07/01/2026    | CUSIP: 679088MR2<br>LEI: 549300LYHYBINTZ5AY71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2007542.00   | 2.37%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE BUILDING AUTHORITY (MI)                                                     | MI MISFAC 4 10/15/2036    | CUSIP: 594615FU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $541482.95    | 0.64%             | 2036-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH SLOPE BORO ALASKA                                                           | AK NOR 5 06/30/2027       | CUSIP: 662523X53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $770481.45    | 0.91%             | 2027-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS BAY TRANSPORTATION AUTHORITY (MA)                                   | MA MASTRN 5 07/01/2027    | CUSIP: 575579T31<br>LEI: 549300D2U0XBUXGX8P68 | Long             | DBT              | MUN               | US        |    250000 | PA      | $257114.40    | 0.30%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUBLIC SERVICE AUTHORITY (SC)                                      | SC SCSUTL 5 12/01/2028    | CUSIP: 8371513M9<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    350000 | PA      | $370799.28    | 0.44%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH (PA), CITY OF                                                          | PA PIT 5 09/01/2026       | CUSIP: 725209RW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $317328.39    | 0.37%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT COLLINS-LOVELAND WTR DIST COLO                                               | CO FORWTR 5 12/01/2027    | CUSIP: 347163BY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1296718.38   | 1.53%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEATTLE WASH                                                                      | WA SEAPWR 5 02/01/2028    | CUSIP: 812643C51<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $781299.00    | 0.92%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY (NJ), STATE OF                                                         | NJ NJS 5 06/01/2026       | CUSIP: 646039YK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1117047.81   | 1.32%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY (NJ)                               | NJ NJSTRN 5 06/15/2033    | CUSIP: 64613CEK0<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2818725.00   | 3.33%             | 2033-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RURAL WTR FING AGY KY                                                             | KY RWFWTR 3.7 05/01/2027  | CUSIP: 781741AV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000095.30   | 1.18%             | 2027-05-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HEALTH AND EDUCATIONAL FACILITIES AUTHORITY (CT)                | CT CTSMED 07/01/2040      | CUSIP: 20774Y3C9<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1471085.36   | 1.74%             | 2040-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO (IL), CITY OF                                                             | IL CHIWTR 5 11/01/2030    | CUSIP: 167736E45<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    250000 | PA      | $252620.80    | 0.30%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL TEX REGL MOBILITY AUTH                                                    | TX CTXGEN 5 01/01/2028    | CUSIP: 155498PJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $779404.13    | 0.92%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEMINOLE COUNTY FLA SALES TAX REV                                                 | FL SEMGEN 5.25 10/01/2031 | CUSIP: 816691EW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2035000 | PA      | $2206597.51   | 2.61%             | 2031-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LAMAR TEX CONS INDPT SCH DIST                                                     | TX LAMSCD 5 02/15/2028    | CUSIP: 513174S86<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $756855.99    | 0.89%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BEXAR CNTY TEX HOSP DIST                                                          | TX BEXMED 5 02/15/2028    | CUSIP: 088365ME8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $779152.73    | 0.92%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT (CT), STATE OF                                                        | CT CTS 5 09/15/2031       | CUSIP: 20772KRV3<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1207365.87   | 1.43%             | 2031-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BEAVER WTR DIST ARK                                                               | AR BEVWTR 5 04/15/2027    | CUSIP: 075388EU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $419022.75    | 0.50%             | 2027-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS (IL), STATE OF                                                           | IL ILS 5 02/01/2027       | CUSIP: 452152G88<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015684.90   | 1.20%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO (IL), CITY OF                                                             | IL CHIMFH 4.9 03/20/2044  | CUSIP: 167570PC8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500161.25    | 0.59%             | 2044-03-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COLUMBUS GA                                                                       | GA COLUTL 5 05/01/2027    | CUSIP: 199144XF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1203871.63   | 1.42%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (THE) (AZ)                       | AZ MARDEV 4 01/01/2034    | CUSIP: 56682HCG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008450.20   | 1.19%             | 2034-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PALM COAST FLA                                                                    | FL PCOUTL 5 10/01/2027    | CUSIP: 69661KDT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1654133.76   | 1.95%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                                             | NY NYSGEN 5 03/15/2027    | CUSIP: 64990KJP9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020798.30   | 1.21%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAUI CNTY HAWAII                                                                  | HI MAU 5 09/01/2028       | CUSIP: 577286AY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057234.50   | 1.25%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HOUSING FINANCE AGENCY (NC)                                        | NC NCSHSG 2.85 07/01/2027 | CUSIP: 658207TT2<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    870000 | PA      | $868299.76    | 1.03%             | 2027-07-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA                                                                   | PA CHE 5 07/15/2027       | CUSIP: 1655732K1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $396233.61    | 0.47%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY (CA)                             | CA CASMED 4 10/01/2036    | CUSIP: 13032UFL7<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    330000 | PA      | $330063.26    | 0.39%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FRANKLIN CNTY OHIO                                                                | OH FRAMED 5 11/01/2027    | CUSIP: 353187EZ6<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |    580000 | PA      | $599685.32    | 0.71%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH                                           | NY NYCGEN 5 11/01/2027    | CUSIP: 64972JJJ8<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |    500000 | PA      | $517792.70    | 0.61%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS (IL), STATE OF                                                           | IL ILS 5.5 01/01/2029     | CUSIP: 452151YD9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2020000 | PA      | $2155726.43   | 2.55%             | 2029-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO (IL), CITY OF                                                             | IL CHIWTR 5.25 11/01/2032 | CUSIP: 167736L21<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    665000 | PA      | $687481.06    | 0.81%             | 2032-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY (NJ), STATE OF                                                         | NJ NJS 4 06/01/2031       | CUSIP: 646039YQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $312838.27    | 0.37%             | 2031-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARION CNTY FLA SCH BRD                                                           | FL MRNEDU 5 06/01/2027    | CUSIP: 56879EGT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $511474.55    | 0.60%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PAULDING CNTY GA SCH DIST                                                         | GA PAUSCD 5 02/01/2028    | CUSIP: 703600GG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041609.60   | 1.23%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GAINESVILLE (FL), CITY OF                                                         | FL GAIUTL 5 10/01/2032    | CUSIP: 362848UE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1255000 | PA      | $1290184.05   | 1.52%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTON COUNTY AIRPORT BOARD (KY)                                                  | KY KENAPT 5 01/01/2027    | CUSIP: 491026UP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $530844.66    | 0.63%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRANSPORTATION DISTRICT (CO)                                             | CO REGTRN 5 01/15/2028    | CUSIP: 759151BC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1232037.12   | 1.46%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAINE STATE HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY (ME)               | ME MESMED 5 07/01/2033    | CUSIP: 56042RCN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $725934.96    | 0.86%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS (TX), STATE OF                                                              | TX TXS 5 10/01/2030       | CUSIP: 8827242E6<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1635656.85   | 1.93%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY (THE) (NY)                           | NY NYCGEN 5 05/01/2040    | CUSIP: 64972JHS0<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1651707.45   | 1.95%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY (AL)                                                   | AL SEEPWR 5 10/01/2027    | CUSIP: 84136HCQ4<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    350000 | PA      | $359106.41    | 0.42%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE (WA)                                                              | WA PTSGEN 5 05/01/2032    | CUSIP: 735389ZU5<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1280840.53   | 1.51%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-26

**Name of Applicant:** DTF TAX-FREE INCOME 2028 TERM FUND INC

**Signature:** Amy Hackett

**Name of Signer:** Amy Hackett

**Title:** Vice President and Assistant Treasurer