SEC Info - DTF Tax-Free Income Inc - ‘N-Q’ for 7/31/14

SEC Info℠

Home

Help

Please Sign In

DTF Tax-Free Income Inc – ‘N-Q’ for 7/31/14

On: Friday, 9/19/14, at 2:03pm ET · Effective: 9/19/14 · For: 7/31/14 · Accession #: 1193125-14-346826 · File #: 811-06416

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 9/19/14  DTF Tax-Free Income Inc           N-Q         7/31/14    2:281K                                   RR Donnelley/FA

Quarterly Schedule of Portfolio Holdings of a Management Investment Company — Form N-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: N-Q         Dtf Tax-Free Income Inc.                            HTML    204K 
 2: EX-99.CERT  Certifications Pursuant to Section 302 of           HTML     19K 
                          Sarbanes-Oxley Act of 2002

N-Q — Dtf Tax-Free Income Inc.

This is an HTML Document rendered as filed. [ Alternative Formats ]

DTF Tax-Free Income Inc.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-06416

DTF Tax-Free Income Inc.

(Exact name of registrant as specified in charter)

200 South Wacker Drive, Suite 500, Chicago, Illinois 60606

(Address of principal executive offices) (Zip code)


Alan M. Meder		Lawrence R. Hamilton, Esq.
DTF Tax-Free Income Inc.		Mayer Brown LLP
200 South Wacker Drive, Suite 500		71 South Wacker Drive
Chicago, Illinois 60606		Chicago, Illinois 60606

(Name and address of agents for service)

Registrant’s telephone number, including area code: (800) 338-8214

Date of fiscal year end: October 31

Date of reporting period: July 31, 2014

Item 1 – Schedule of Investments

See the Statement of Net Assets below.

DTF TAX-FREE INCOME INC.

STATEMENT OF NET ASSETS

July 31, 2014

(Unaudited)


Principal Amount (000)		Description (a)	Value (Note 1)

	LONG-TERM INVESTMENTS - 142.7%

		Arizona - 4.3%
	$ 2,000	Arizona St. Trans. Brd. Hwy. Rev.,
		5.00%, 7/1/30, Ser. B	$	2,254,320
	500	Northern Arizona University Rev. Ref.,
		5.00%, 6/1/40		545,390
	1,000	Northern Arizona University Speed Rev.
		Stimulus Plan Econ. Edl. Dev.,
		5.00%, 8/1/38		1,084,400
	2,000	Salt River Proj. Agric. Impvt. & Pwr.
		Dist. Elec. Sys. Rev.,
		5.00%, 1/1/38, Ser. A		2,197,860

				6,081,970


		California - 19.6%
	2,000	Bay Area Toll Auth. Rev.,
		5.125%, 4/1/39, Ser. F-1		2,363,700
	500	California St. Gen. Oblig.,
		5.50%, 3/1/26		576,615
	1,000	California St. Gen. Oblig.,
		6.00%, 4/1/38		1,176,850
	500	California St. Gen. Oblig.,
		5.50%, 3/1/40		570,705
	2,000	California St. Pub. Wks. Brd. Lease Rev.
		Dept. of Corrections and Rehab.,
		5.250%, 9/1/29, Ser. F		2,329,480
	2,000	California Statewide Communities
		Dev. Auth. Rev.,
		5.75%, 7/1/47, FGIC		2,262,220
	545	Fresno Swr. Rev.,
		6.25%, 9/1/14, Ser. A-1, AMBAC		547,578
	3,000	Golden State Tobacco Securitization Corp. Rev.,
		5.75%, 6/1/47, Ser. A-1		2,398,410
	500	Imperial Irrigation Dist. Elec. Sys. Rev.,
		5.00%, 11/1/36, Ser. B		542,625
	1,000	Manteca Wtr. Ref. Rev.,
		5.00%, 7/1/33		1,092,070
	2,500	Riverside Cnty. Sngl. Fam. Rev.,
		7.80%, 5/1/21, Ser. A,
		Escrowed to maturity (b)		3,433,725
	500	Sacramento Area Flood Control Agency
		Consol. Capital Assessment Dist. Bonds,
		5.00%, 10/1/37		548,660
	7,840	San Bernardino Cnty. Res. Mtge. Rev.,
		9.60%, 9/1/15,
		Escrowed to maturity (b)		8,638,112
	1,040	Saratoga Unified Sch. Dist. Gen. Oblig.,
		Zero Coupon, 9/1/20, Ser. A, NRE		921,586

				27,402,336


		Colorado - 0.8%
	1,000	Eagle River Wtr. & Sanitation Dist.
		Enterprise Wastewater Rev.,
		5.00%, 12/1/42		1,084,980


		Connecticut - 3.2%
	1,000	Connecticut St. Hlth. & Edl. Facs. Auth. Rev.,
		5.00%, 7/1/25, Ser. C, RAD		1,007,620
	700	Connecticut St. Hlth. & Edl. Facs. Auth. Rev.,
		5.00%, 7/1/32, Ser. A		745,829
	1,000	Connecticut St. Hlth. & Edl. Facs. Auth. Rev.,
		5.00%, 7/1/41, Ser. A		1,056,160
	550	Connecticut St. Hlth. & Edl. Facs. Auth. Rev.
		Yale-New Haven Hospital,
		5.00%, 7/1/48, Ser. N		593,890
	1,000	South Central Connecticut Reg. Wtr. Auth. Rev.,
		5.00%, 8/1/41, Ser. 26		1,087,880

				4,491,379


		District of Columbia - 1.6%
	1,000	District of Columbia Inc. Tax Rev.,
		5.00%, 12/1/31, Ser. A		1,134,210
	1,000	Metropolitan Washington D.C. Airport Auth. Rev.,
		5.00%, 10/1/18, Ser. A, AGM / AMBAC		1,125,850

				2,260,060


		Florida - 12.7%
	1,500	Broward Cnty. Port Fac. Rev.,
		6.00%, 9/1/23, Ser. A		1,711,410
	1,000	Escambia Cnty. Hlth. Fac. Auth. Rev.,
		6.00%, 8/15/36		1,137,340

The accompanying notes are an integral part of this financial statement.

DTF TAX-FREE INCOME INC.

STATEMENT OF NET ASSETS — (Continued)

July 31, 2014

(Unaudited)


Principal Amount (000)		Description (a)	Value (Note 1)

	$ 2,000	Florida St. Brd. of Ed. Cap. Outlay,
		5.00%, 6/1/41, Ser. F	$	2,196,120
	2,350	Florida St. Brd. of Gov. Florida State Univ. Dorm Rev.,
		5.00%, 5/1/33, Ser. A		2,628,616
	70	Highlands Cnty. Hlth. Fac. Auth. Rev.,
		5.125%, 11/15/32, Ser. G,
		Prerefunded 11/15/16 @ $100 (b)		77,498
	1,930	Highlands Cnty. Hlth. Fac. Auth. Rev.,
		5.125%, 11/15/32, Ser. G		2,056,222
	1,975	JEA Wtr. & Swr. Rev.,
		4.25%, 10/1/41, Ser. A		2,016,771
	250	Miami-Dade Cnty. Aviation Rev.,
		5.00%, 10/1/32, Ser. A		267,258
	2,000	Orlando and Orange Cnty. Expwy. Auth. Rev.,
		5.00%, 7/1/35, Ser. A		2,181,600
	1,000	Reedy Creek Impvt. Dist.,
		5.00%, 6/1/38, Ser. A		1,087,710
	2,000	Seminole Cnty. Sales Tax Rev.,
		5.25%, 10/1/31, Ser. B, NRE		2,414,000

				17,774,545


		Georgia - 6.1%
	500	City of Atlanta Arpt. Passenger Fac. Charge and
		Sub. Lien Gen. Rev. Ref.,
		5.00%, 1/1/32, Ser. A		560,565
	2,000	Fulton Cnty. Sch. Dist. Gen. Oblig.,
		5.375%, 1/1/16		2,143,380
	3,195	Georgia Mun. Elec. Auth. Pwr. Rev.,
		6.50%, 1/1/20, Ser. X, AMBAC		3,634,600
	2,000	Metro. Atlanta Rapid Tran. Auth. Rev.,
		5.00%, 7/1/39, Ser. 3		2,229,100

				8,567,645


		Illinois - 9.5%
	500	Chicago Multi-Family Hsg. Rev.,
		4.90%, 3/20/44, FHA		504,785
	1,000	Chicago O’Hare Intl. Arpt. Rev.
		Customer Fac. Charge,
		5.125%, 1/1/30, Senior Lien, AGM		1,112,160
	500	Chicago Wastewater Transmission Rev.,
		4.00%, 1/1/42, 2nd Lien		462,315
	2,000	Chicago Wastewater Transmission Rev.,
		5.00%, 1/1/42, 2nd Lien		2,086,740
	1,000	Illinois Fin. Auth. Ed. Rev.,
		5.375%, 9/1/32, Ser. C,
		Prerefunded 9/1/17 @ $100 (b)		1,145,410
	1,000	Illinois Fin. Auth. Rev.,
		6.00%, 8/15/38, Ser. A		1,071,280
	200	Illinois Fin. Auth. Rev.
		Northwestern Memorial HealthCare,
		5.00%, 8/15/37		216,200
	500	Illinois Fin. Auth. Rev.
		Centegra Hlth. Sys.,
		5.00%, 9/1/42, Ser. A		504,715
	2,000	Illinois St. Gen. Oblig.,
		5.50%, 1/1/29		2,343,020
	1,500	Illinois St. Toll Hwy. Auth. Rev.,
		5.50%, 1/1/33, Ser. B		1,663,080
	1,000	Railsplitter Tobacco Settlement Auth. Rev.,
		6.00%, 6/1/28		1,163,920
	1,000	Univ. of Illinois Aux. Facs. Sys. Rev.,
		5.00%, 4/1/34, Ser. A		1,097,120

				13,370,745


		Indiana - 2.5%
	180	Indiana Fin. Auth. Hospital Rev.,
		5.875%, 5/1/29, Ser. A		180,400

The accompanying notes are an integral part of this financial statement.

DTF TAX-FREE INCOME INC.

STATEMENT OF NET ASSETS - (Continued)

July 31, 2014

(Unaudited)


Principal Amount (000)		Description (a)	Value (Note 1)
	$ 1,000	Indiana St. Fin. Auth. Rev. Revolving Fund,
		5.00%, 2/1/31, Ser. B	$	1,134,240
	2,000	Indianapolis Local Pub. Impvt.
		Bond Bank Rev.,
		5.00%, 2/1/38, Ser. A		2,223,380

				3,538,020


		Louisiana - 6.1%
	1,000	Louisiana St. Gasoline & Fuels Tax Rev.,
		5.00%, 5/1/41, Ser. A, NRE,
		Partially Prerefunded (b)		1,058,600
	1,250	Louisiana Stadium & Exposition Dist.,
		5.00%, 7/1/30, Ser. A		1,373,425
	500	Louisiana Stadium & Exposition Dist.,
		5.00%, 7/1/36, Ser. A		534,465
	1,250	Louisiana St. Tran. Auth. Ref. Rev.,
		5.00%, 8/15/38, Ser. A		1,390,100
	250	New Orleans Swr. Svc. Ref. Rev.,
		5.00%, 6/1/44		267,417
	500	Board of Commissioners of The Port of New Orleans
		Port Fac. Ref. Rev.,
		5.00%, 4/1/33, Ser. B		521,030
	1,100	Regional Tran. Auth. Louisiana Sales Tax Rev.,
		5.00%, 12/1/30, AGM		1,195,557
	1,000	Terrebonne Levee & Consv. Dist.
		Pub. Impvt. Sales Tax Rev.,
		5.00%, 7/1/38, Ser. A		1,086,850
	1,000	Terrebonne Parish Waterworks Consol. Dist. No. 1,
		5.00%, 11/1/37, Ser. A		1,068,170

				8,495,614


		Maine - 2.0%
	1,000	Maine St. Hlth. & Hgr. Edl. Facs. Auth. Rev.,
		5.00%, 7/1/33, Ser. A		1,082,930
	500	Maine St. Hlth. & Hgr. Edl. Facs. Auth. Rev.,
		5.00%, 7/1/43		514,105
	610	City of Portland, General Arpt. Rev.,
		5.00%, 7/1/31		650,638
	540	City of Portland, General Arpt. Rev.,
		5.00%, 7/1/32		574,312

				2,821,985


		Maryland - 1.6%
	2,000	Maryland St. Trans. Auth. Rev.,
		5.00%, 7/1/37, AGM		2,220,560


		Massachusetts - 6.4%
	3,000	Massachusetts Bay Trans. Auth. Rev.,
		5.50%, 7/1/29, Ser. B, NRE		3,854,640
	2,000	Massachusetts St. College Bldg. Auth. Rev.,
		5.00%, 5/1/40, Ser. B		2,243,420
	1,500	Massachusetts St. Dev. Fin. Agcy.
		Solid Waste Disp. Rev.,
		5.00%, 2/1/36,		1,634,880
		Prerefunded 8/1/16 @ $100 (b)
	1,000	Massachusetts St. Gen. Oblig.,
		5.50%, 8/1/30, Ser. A, AMBAC		1,292,110

				9,025,050


		Michigan - 1.3%
	500	Detroit Gen. Oblig.,
		5.25%, 11/1/35 (c)		519,645
	1,000	City of Holland Elec. Util. Sys. Rev.,
		5.00%, 7/1/39, Ser. A		1,108,250
	225	City of Royal Oak Hosp. Fin. Auth. Hosp. Rev.
		Ref. Bonds,
		5.00%, 9/1/39, Ser. D		240,354

				1,868,249


		Nebraska - 3.4%
	500	Nebraska St. Pub. Pwr. Dist. Gen. Rev.,
		5.00%, 1/1/34, Ser. A		549,975
	2,000	Omaha Gen. Oblig.,
		5.25%, 4/1/27		2,549,540
	1,525	Omaha Pub. Pwr. Dist. Elec. Rev.,
		6.20%, 2/1/17, Ser. B,
		Escrowed to maturity (b)		1,652,063

				4,751,578


		Nevada - 3.1%
	2,165	Clark Cnty. Gen. Oblig.,
		5.00%, 11/1/22, AMBAC		2,287,452
	2,000	Nevada St. Gen. Oblig.,
		5.00%, 12/1/24, Ser. F, AGM		2,077,600

				4,365,052


		New Jersey - 4.0%
	2,000	New Jersey St. Gen. Oblig.,
		5.25%, 7/1/17, Ser. H		2,255,440
	1,000	New Jersey St. Tpk. Auth. Rev.,
		5.00%, 1/1/36, Ser. H		1,076,840
	2,000	New Jersey Trans. Trust Fund Auth. Rev.,
		5.25%, 12/15/22, Ser. A		2,317,600

				5,649,880

The accompanying notes are an integral part of this financial statement.

DTF TAX-FREE INCOME INC.

STATEMENT OF NET ASSETS — (Continued)

July 31, 2014

(Unaudited)


Principal Amount (000)		Description (a)	Value (Note 1)

		New York - 9.1%
	$ 1,000	Albany Industrial Dev. Agy. Rev.,
		5.00%, 4/1/32, Ser. A	$	964,680
	700	Long Island Pwr. Auth. Elec. Sys. Rev.,
		5.00%, 9/1/42, Ser. A		747,915
	1,000	New York City Mun. Wtr. Fin. Auth.
		Wtr. & Swr. Sys. Rev.,
		5.00%, 6/15/34, Ser. DD		1,123,250
	1,000	New York City Mun. Wtr. Fin. Auth. Rev.,
		5.375%, 6/15/43, Ser. EE		1,169,280
	1,000	New York City Mun. Wtr. Fin. Auth. Rev.,
		5.50%, 6/15/43, Ser. EE		1,179,180
	1,500	New York St. Dorm. Auth. Rev.,
		7.25%, 10/1/28, Ser. C		1,823,160
	2,000	New York St. Dorm. Auth.
		St. Personal Inc. Tax Rev.,
		5.00%, 3/15/30, Ser. F
		Prerefunded 3/15/15@ $100 (b)		2,060,420
	1,000	New York St. Thruway Auth. Rev.,
		5.00%, 1/1/36, Ser. J		1,105,890
	450	New York St. Thruway Auth. Rev.,
		5.00%, 1/1/37, Ser. I		492,822
	900	The Port Auth. of New York and New Jersey Cons. Bonds,
		5.00%, 6/1/33, Ser. 179		1,028,997
	500	Triborough Bridge & Tunnel Auth. Subordinate Rev.,
		5.00% 11/15/30, Ser. A		568,865
	400	Utility Debt Securitization Auth.
		Restructuring Rev.,
		5.00%, 12/15/31, Ser. TE		464,924

				12,729,383


		Ohio - 4.7%
	750	Deerfield Twp. Tax Increment Rev.,
		5.00%, 12/1/25		779,085
	1,000	Hamilton Elec. Sys. Rev.,
		4.60%, 10/15/20, Ser. A, AGM		1,059,820
	500	Ohio St. Gen. Oblig.,
		5.00%, 9/1/30, Ser. A		557,275
	1,040	Ohio St. Tpk. Comm. Tpk. Rev.,
		5.00%, 2/15/31, Ser. A		1,162,252
	2,445	Ohio St. Wtr. Dev. Auth. Rev.,
		5.50%, 6/1/20, Ser. B, AGM		2,976,788

				6,535,220


		Pennsylvania - 8.9%
	2,000	Delaware Cnty. Auth. Rev.,
		5.00%, 6/1/21, Ser. A
		Prerefunded 6/1/15 @ $100 (b)		2,078,340
	2,000	Delaware River Port Auth. Rev.,
		5.00%, 1/1/34		2,208,440
	480	East Stroudsburg Area Sch. Dist.,
		7.750%, 9/1/27, Ser.A		583,742
		Prerefunded 9/1/17 @ $100 (b)
	520	East Stroudsburg Area Sch. Dist.,
		7.750%, 9/1/27, NRE		620,469
	1,000	Pennsylvania Econ. Dev. Fin.
		Auth. Res. Recov. Rev.,
		4.625%, 12/1/18, Ser. F, AMBAC		1,027,730
	500	Pennsylvania St. Higher Ed. Facs. Auth. Rev.,
		5.00%, 6/15/28, Ser. AL		568,845
	1,020	Pennsylvania St. Tpk. Comm. Oil Franchise Tax Rev.,
		5.00%, 12/1/23, Ser. A-2, AGT		1,140,554
	1,000	Pennsylvania St. Tpk. Comm.
		Turnpike Rev.,
		5.00%, 12/1/31, Ser. A		1,103,000
	1,000	Pennsylvania St. Tpk. Comm.
		Turnpike Sub. Rev.,
		5.00%, 12/1/43, Ser. A-1		1,061,480
	2,000	Philadelphia Wtr. & Wastewater Rev.,
		5.00%, 1/1/41, Ser. A		2,140,160

				12,532,760


		Rhode Island - 2.8%
	2,000	Rhode Island Hlth. & Edl. Bldg. Corp. Higher Ed. Facs. Rev.,
		5.00%, 9/1/37		2,198,040
	1,600	Rhode Island Hlth. & Edl. Bldg. Corp. Higher Ed. Facs. Rev.,
		5.00%, 11/1/41		1,713,248

				3,911,288


		South Carolina - 1.6%
	2,000	Charleston Cnty. Spl. Source Rev.,
		5.00%, 12/1/32		2,279,740


		Tennessee - 2.0%
	1,500	Tennessee Energy Acquisition Corp. Rev.,
		5.25%, 9/1/20, Ser. A		1,710,510
	1,000	Tennessee Energy Acquisition Corp. Rev.,
		5.25%, 9/1/21, Ser. A		1,147,410

				2,857,920

The accompanying notes are an integral part of this financial statement.

DTF TAX-FREE INCOME INC.

STATEMENT OF NET ASSETS — (Continued)

July 31, 2014

(Unaudited)


Principal Amount (000)		Description (a)	Value (Note 1)

		Texas - 13.8%
	$ 1,000	Alliance Airport Auth. Inc. Rev.,
		4.85%, 4/1/21	$	1,038,560
	1,000	Dallas Area Rapid Transit Rev.,
		5.25%, 12/1/48		1,100,660
	2,000	El Paso Wtr. & Swr. Rev.
		Ref. and Impvmt. Bonds,
		4.00%, 3/1/33, Ser. A		2,064,700
	1,000	Everman Indep. Sch. Dist. Gen. Oblig.,
		5.00%, 2/15/36, PSF		1,101,560
	500	Houston Arpt. Sys. Rev.,
		5.00%, 7/1/32, Ser. A		533,625
	1,000	Houston Hotel Occupancy Tax & Spl. Rev.,
		5.25%, 9/1/29, Ser. A		1,117,560
	1,410	Houston Util. Sys. Rev.,
		5.00%, 11/15/32, Ser. B, 1st Lien		1,617,369
	1,060	Klein Indep. Sch. Dist. Gen. Oblig.,
		5.00%, 8/1/38, Ser. A, PSF		1,175,476
	2,000	Lower Colorado River Auth. Rev.,
		5.00%, 5/15/31, AGM		2,006,980
	1,865	McLennan Cnty. Pub. Fac. Corp. Proj. Rev.,
		6.625%, 6/1/35		1,974,028
	1,200	North Texas Twy. Auth. Rev.,
		5.75%, 1/1/40, Ser. A, BHAC		1,356,792
	1,975	Pharr-San Juan-Alamo Indep. Sch. Dist. Gen. Oblig.,
		5.50%, 2/1/33, PSF		2,178,899
	1,000	Spring Branch Indep. Sch. Dist. Gen. Oblig.,
		5.25%, 2/1/38, PSF		1,093,740
	1,000	Upper Trinity Reg. Wtr. Dist. Treated Wtr. Supply Sys. Rev.
		Ref. and Impvmt. Bonds,
		4.00%, 8/1/37, Ser. A, AGM		977,040

				19,336,989


		Utah - 1.6%
	1,000	Utah Trans. Auth. Sales Tax Rev.,
		5.00%, 6/15/32, Ser. A, AGM		1,112,450
	1,000	Utah Trans. Auth. Sales Tax Rev.,
		5.00%, 6/15/36, Ser. A, AGM		1,110,080

				2,222,530


		Vermont - 1.6%
	2,000	Univ. of Vermont & St. Agric. College Gen. Oblig.,
		5.00%, 10/1/38, Ser. A		2,169,980


		Virginia - 2.8%
	2,000	Virginia College Bldg. Auth. Rev.,
		5.00%, 2/1/23, Ser. E-1		2,409,740
	1,500	Virginia St. Hsg. Dev. Auth. Rev.,
		4.55%, 1/1/24		1,508,370

				3,918,110


		West Virginia - 1.1%
	1,500	Monongalia Cnty. Bldg. Comm.
		Hospital Rev.,
		5.00%, 7/1/30, Ser. A		1,508,745


		Wisconsin - 1.7%
	2,000	Wisconsin St. Gen. Rev.,
		6.00%, 5/1/33, Ser. A		2,366,740


		Wyoming - 2.8%
	3,550	Wyoming St. Farm Loan Brd.
		Cap. Facs. Rev.,
		5.75%, 10/1/20		3,948,168

		Total Long-Term Investments
		(Cost $186,159,472)		200,087,221

The accompanying notes are an integral part of this financial statement.

DTF TAX-FREE INCOME INC.

STATEMENT OF NET ASSETS — (Continued)

July 31, 2014

(Unaudited)



TOTAL INVESTMENTS - 142.7% (Cost $186,159,472)	$	200,087,221

Other assets less liabilities - 3.6%		5,175,536

Liquidation value of Variable Rate MuniFund Term Preferred Shares - (46.3%)		(65,000,000	)


NET ASSETS APPLICABLE TO COMMON STOCK - 100.0%	$	140,262,757

(a)	The following abbreviations are used in portfolio descriptions to indicate an obligation of credit support, in whole or in part:

AMBAC—Ambac Assurance Corporation

AGM—Assured Guaranty Municipal Corp.

AGT—Assured Guaranty Corp.

BHAC—Berkshire Hathaway Assurance Corporation

FGIC—Financial Guaranty Insurance Company

FHA—Federal Housing Authority

NRE—National Public Finance Guarantee Corporation

PSF—Texas Permanent School Fund

RAD—Radian Asset Assurance Inc.

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

(c)	The City of Detroit has filed a petition under Chapter 9 with the U.S. Bankruptcy Court.

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 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, 2014.


	Level 2

Municipal bonds	$	200,087,221

There were no Level 1 or Level 3 priced securities held at July 31, 2014.

Note 2. Federal Tax Cost

At October 31, 2013, the Fund’s most recent fiscal tax year-end, the federal tax cost of the Fund’s investments and aggregate gross unrealized appreciation (depreciation) were as follows:


Federal Tax Cost	Unrealized Appreciation	Unrealized Depreciation	Net Unrealized Appreciation
$181,287,838	$10,211,261	($3,102,882)	$7,108,379

The difference between the book basis and tax basis of unrealized appreciation (depreciation) and cost of investments is primarily attributable to the difference between book and tax amortization methods for premiums and discounts on fixed income securities.

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

Item 2 – Controls and Procedures

(a) The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”)) are effective, based on an evaluation of those controls and procedures made as of a date within 90 days of the filing date of this report as required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934.

(b) There has been no change in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3 – Exhibits

Exhibit 99.CERT Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


(Registrant)		DTF TAX-FREE INCOME INC.

By (Signature and Title)		/S/ NATHAN I. PARTAIN

		Nathan I. Partain
		President and Chief Executive Officer
		(Principal Executive Officer)

Date: September 19, 2014

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.



By (Signature and Title)		/S/ NATHAN I. PARTAIN

		Nathan I. Partain
		President and Chief Executive Officer (Principal Executive Officer)

Date: September 19, 2014

By (Signature and Title)		/S/ ALAN M. MEDER

		Alan M. Meder
		Treasurer and Assistant Secretary
		(Principal Financial and Accounting Officer)

Date: September 19, 2014

Dates Referenced Herein and Documents Incorporated by Reference

This ‘N-Q’ Filing	Date	Other Filings

Filed on / Effective on:	9/19/14
For Period End:	7/31/14
	10/31/13	N-CSR, NSAR-B
		List all Filings

↑Top

Filing Submission 0001193125-14-346826 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

DTF Tax-Free Income Inc – ‘N-Q’ for 7/31/14

On: Friday, 9/19/14, at 2:03pm ET · Effective: 9/19/14 · For: 7/31/14 · Accession #: 1193125-14-346826 · File #: 811-06416

Previous ‘N-Q’: ‘N-Q’ on 3/14/14 for 1/31/14 · Next: ‘N-Q’ on 3/24/15 for 1/31/15 · Latest: ‘N-Q’ on 3/19/19 for 1/31/19

Quarterly Schedule of Portfolio Holdings of a Management Investment Company — Form N-QFiling Table of Contents

N-Q — Dtf Tax-Free Income Inc.

This is an HTML Document rendered as filed. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

Quarterly Schedule of Portfolio Holdings of a Management Investment Company — Form N-Q
Filing Table of Contents