Vault-13

DWS MUN INCOME TR KTF

COM · Closed-End Fund · CUSIP 233368109

68 institutional holders -7 vs Q1 2025
18,263,57718.3m shares reported held*
$161.8mreported value*
8 new 21 added 20 reduced 12 sold out net bought ≈ $180.1k (+9.8k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $8.86.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 82Q4 22: 80Q1 23: 80Q2 23: 81Q3 23: 87Q4 23: 79Q1 24: 78Q2 24: 77Q3 24: 70Q4 24: 76Q1 25: 75Q2 25: 6868Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202282
Q4 202280
Q1 202380
Q2 202381
Q3 202387
Q4 202379
Q1 202478
Q2 202477
Q3 202470
Q4 202476
Q1 202575
Q2 202568

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
50050Q3 23: 37 bought or addedQ3 23: 35 cut or sold outQ4 23: 36 bought or addedQ4 23: 37 cut or sold outQ4 23Q1 24: 32 bought or addedQ1 24: 34 cut or sold outQ2 24: 36 bought or addedQ2 24: 41 cut or sold outQ2 24Q3 24: 23 bought or addedQ3 24: 37 cut or sold outQ4 24: 32 bought or addedQ4 24: 32 cut or sold outQ4 24Q1 25: 28 bought or addedQ1 25: 30 cut or sold outQ2 25: 29 bought or addedQ2 25: 32 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20233735
Q4 20233637
Q1 20243234
Q2 20243641
Q3 20242337
Q4 20243232
Q1 20252830
Q2 20252932

Biggest buyers

Karpus Management, Inc. Added +684,776+684.8k
SIT INVESTMENT ASSOCIATES INC Added +167,787+167.8k
WEDBUSH SECURITIES INC New +71,067+71.1k
Balyasny Asset Management L.P. New +56,893+56.9k
ROYAL BANK OF CANADA Added +48,400+48.4k
BANK OF AMERICA CORP /DE/ Added +43,693+43.7k
NorthCoast Asset Management LLC Added +41,965+42.0k
Dakota Wealth Management Added +38,148+38.1k
Integrated Wealth Concepts LLC New +28,982+29.0k
Rockefeller Capital Management L.P. Added +25,381+25.4k

Biggest sellers

CITY OF LONDON INVESTMENT MANAGEMENT CO LTD Sold out -412,392-412.4k
ENVESTNET ASSET MANAGEMENT INC Sold out -141,831-141.8k
PARK AVENUE SECURITIES LLC Sold out -126,933-126.9k
RAYMOND JAMES FINANCIAL INC Reduced -113,773-113.8k
PNC Financial Services Group, Inc. Reduced -74,440-74.4k
Pathstone Holdings, LLC Sold out -54,105-54.1k
1607 Capital Partners, LLC Reduced -52,324-52.3k
MacKay Shields LLC Reduced -43,156-43.2k
Orion Porfolio Solutions, LLC Sold out -40,572-40.6k
INTEGRATED CAPITAL MANAGEMENT, INC. Sold out -25,937-25.9k

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
SIT INVESTMENT ASSOCIATES INC 13G · institution no change · filed 2026-10-01 22.9% no change 9.0m≈ $82.7m 2026-10-01
Karpus Management, Inc. 13G · institution -1.4 pts · filed 2026-08-14 7.0% -1.4 pts 2.8m≈ $25.4m 2026-08-14

Fell to 5% or below in the last year: JPMorgan Chase Bank, N.A. (0.0%, 2026-10-16)

Insider purchases and sales in Q2 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 SIT INVESTMENT ASSOCIATES INC 1.78% of their portfolio Minneapolis, MN 9,446,8859.4m $83.5m $83.5m 1.78% Added +167.8k +167,787
2 Karpus Management, Inc. 0.87% of their portfolio Pittsford, NY 3,057,9363.1m $27.0m $27.0m 0.87% Added +684.8k +684,776
3 1607 Capital Partners, LLC 1.02% of their portfolio Richmond, VA 1,424,1561.4m $12.6m $12.6m 1.02% Reduced -52.3k -52,324
4 Hennion & Walsh Asset Management, Inc. 0.19% of their portfolio Parsippany, NJ 532,269532.3k $4.7m $4.7m 0.19% Reduced -24.2k -24,154
5 NorthCoast Asset Management LLC 0.01% of their portfolio STAMFORD, CT 333,628333.6k $2.9m $2.9m 0.01% Added +42.0k +41,965
6 Capital Investment Advisors, LLC 0.06% of their portfolio ATLANTA, GA 327,435327.4k $3.2m $3.2m 0.06% Reduced -10.6k -10,572
7 Bulldog Investors, LLP 0.64% of their portfolio SADDLE BROOK, NJ 286,928286.9k $2.5m $2.5m 0.64% Reduced -19.4k -19,355
8 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 208,820208.8k $1.8m $1.8m 0.00% Added +43.7k +43,693
9 COHEN & STEERS, INC. 0.00% of their portfolio NEW YORK, NY 170,000170.0k $1.5m $1.5m 0.00% Unchanged
10 VAN ECK ASSOCIATES CORP 0.00% of their portfolio NEW YORK, NY 168,345168.3k $1.5m $1.5m 0.00% Added +2.4k +2,361
11 Allspring Global Investments Holdings, LLC 0.00% of their portfolio CHARLOTTE, NC 147,748147.7k $1.3m $1.3m 0.00% Unchanged
12 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 144,409144.4k $1.3m $1.3m 0.00% Reduced -16.7k -16,704
13 MELFA WEALTH MANAGEMENT, INC. 0.75% of their portfolio WESTBOROUGH, MA 134,569134.6k $1.2m $1.2m 0.75% Reduced -5.5k -5,500
14 MacKay Shields LLC 0.04% of their portfolio New York, NY 130,807130.8k $1.2m $1.2m 0.04% Reduced -43.2k -43,156
15 Dakota Wealth Management 0.02% of their portfolio PALM BEACH GARDENS, FL 114,061114.1k $1.0m $1.0m 0.02% Added +38.1k +38,148
16 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 96,80096.8k $856.0k $856.0k 0.00% Added +48.4k +48,400
17 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 89,50489.5k $791.2k $791.2k 0.00% Reduced -113.8k -113,773
18 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 79,02679.0k $698.6k $698.6k 0.00% Unchanged
19 HB Wealth Management, LLC 0.01% of their portfolio Atlanta, GA 74,95075.0k $662.6k $662.6k 0.01% Unchanged
20 StoneX Group Inc. 0.03% of their portfolio NEW YORK, NY 74,17074.2k $655.7k $655.7k 0.03% Added +428 +428
21 UBS Group AG 0.00% of their portfolio ZURICH, V8 72,43072.4k $640.3k $640.3k 0.00% Added +253 +253
22 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 71,84871.8k $635.1k $635.1k 0.00% Reduced -3.8k -3,810
23 WEDBUSH SECURITIES INC 0.02% of their portfolio PASADENA, CA 71,06771.1k $628.0k $628.0k 0.02% New
24 U.S. Capital Wealth Advisors, LLC 0.02% of their portfolio AUSTIN, TX 60,86060.9k $538.0k $538.0k 0.02% Unchanged
25 Advisory Services Network, LLC 0.01% of their portfolio ATLANTA, GA 59,40659.4k $509.7k $509.7k 0.01% Reduced -6.7k -6,674
26 Balyasny Asset Management L.P. 0.00% of their portfolio Chicago, IL 56,89356.9k $502.9k $502.9k 0.00% New
27 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 56,70656.7k $501.3k $501.3k 0.00% Added +25.4k +25,381
28 GUGGENHEIM CAPITAL LLC 0.00% of their portfolio CHICAGO, IL 52,00452.0k $459.7k $459.7k 0.00% Added +9.9k +9,915
29 ROTHSCHILD INVESTMENT LLC 0.03% of their portfolio CHICAGO, IL 51,91751.9k $458.9k $458.9k 0.03% Reduced -5.0k -5,000
30 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 51,46251.5k $454.9k $454.9k 0.00% Unchanged
31 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 47,18347.2k $417.1k $417.1k 0.00% Unchanged
32 Camelot Portfolios, LLC 0.21% of their portfolio Maumee, OH 39,28439.3k $347.3k $347.3k 0.21% Added +1.3k +1,303
33 GRAHAM CAPITAL WEALTH MANAGEMENT, LLC 0.38% of their portfolio WASHINGTON, DC 39,09939.1k $345.6k $345.6k 0.38% Reduced -4.6k -4,598
34 Wellspring Financial Advisors, LLC 0.03% of their portfolio CLEVELAND, OH 34,12634.1k $301.7k $301.7k 0.03% Added +6.0k +6,034
35 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 33,66833.7k $297.6k $297.6k 0.00% Added +6.8k +6,780
36 Equitable Holdings, Inc. 0.00% of their portfolio NEW YORK, NY 30,56130.6k $270.2k $270.2k 0.00% Added +617 +617
37 Integrated Wealth Concepts LLC 0.00% of their portfolio WALTHAM, MA 28,98229.0k $256.2k $256.2k 0.00% New
38 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 28,06028.1k $248.1k $248.1k 0.00% Reduced -74.4k -74,440
39 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 25,65225.7k $227.0k $227.0k 0.00% Added +2.7k +2,697
40 Summit Financial Wealth Advisors, LLC 0.04% of their portfolio Lafayette, LA 25,40025.4k $224.5k $224.5k 0.04% Unchanged
41 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 24,60924.6k $217.5k $217.5k 0.00% Added +253 +253
42 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 24,00024.0k $212.2k $212.2k 0.00% New
43 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 22,88522.9k $202.3k $202.3k 0.00% Reduced -2.1k -2,114
44 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 21,40321.4k $189.2k $189.2k 0.00% Added +2.9k +2,902
45 Basepoint Wealth LLC 0.14% of their portfolio CEDAR RAPIDS, IA 20,83420.8k $184.2k $184.2k 0.14% Unchanged
46 OPPENHEIMER & CO INC 0.00% of their portfolio NEW YORK, NY 19,33919.3k $171.0k $171.0k 0.00% New
47 Plan A Wealth LLC 0.09% of their portfolio LINCOLN, NE 18,75318.8k $165.8k $165.8k 0.09% Unchanged
48 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 15,47415.5k $136.8k $136.8k 0.00% Added +11 +11
49 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 13,26113.3k $117.3k $117.3k 0.00% Unchanged
50 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 12,58612.6k $111.3k $111.3k 0.00% Reduced -1.2k -1,187
51 CX Institutional 0.00% of their portfolio AUBURN, IN 11,40011.4k $101.0k $101.0k 0.00% Unchanged
52 River Street Advisors LLC 0.04% of their portfolio AURORA, IL 10,94010.9k $96.7k $96.7k 0.04% New
53 Gridiron Partners, LLC 0.06% of their portfolio Wexford, PA 10,44510.4k $92.3k $92.3k 0.06% Unchanged
54 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 10,33110.3k $91.3k $91.3k 0.00% Reduced -4.7k -4,653
55 GREAT VALLEY ADVISOR GROUP, INC. 0.00% of their portfolio WILMINGTON, DE 10,00010.0k $88.4k $88.4k 0.00% Reduced -2.7k -2,705
56 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 8,2538.3k $73.0k $73.0k 0.00% Added +200 +200
57 Elequin Capital, LP 0.01% of their portfolio NEW YORK, NY 7,9728.0k $70.5k $70.5k 0.01% Added +1.9k +1,906
58 OPTIMUM INVESTMENT ADVISORS 0.02% of their portfolio Chicago, IL 6,0006.0k $53.0k $53.0k 0.02% Reduced -2.0k -2,000
59 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 4,9995.0k $44.2k $44.2k 0.00% Reduced -8.4k -8,383
60 MOTCO 0.00% of their portfolio SAN ANTONIO, TX 3,6003.6k $30.9k $30.9k 0.00% New
61 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 2,5002.5k $22.1k $22.1k 0.00% Unchanged
62 Indiana Trust & Investment Management Co 0.01% of their portfolio MISHAWAKA, IN 2,0282.0k $17.9k $17.9k 0.01% Reduced -22.0k -22,000
63 BARTLETT & CO. WEALTH MANAGEMENT LLC 0.00% of their portfolio CINCINNATI, OH 1,3071.3k $11.6k $11.6k 0.00% Unchanged
64 Cape Investment Advisory, Inc. 0.00% of their portfolio MCDONOUGH, GA 976976 $8.6k $8.6k 0.00% Unchanged
65 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 528528 $4.7k $4.7k 0.00% Unchanged
66 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 100100 $884 $884 0.00% Unchanged
67 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged
68 Strategic Investment Solutions, Inc. /IL 0.00% of their portfolio ORLAND PARK, IL 00 $8.8k $8.8k 0.00% New