Filing Details
- Accession Number:
- 0001062993-25-002784
- Form Type:
- 13D Filing
- Publication Date:
- 2025-02-18 19:00:00
- Filed By:
- RAD Investments LLC
- Company:
- Tax Free Target Maturity Fund For Puerto Rico Residents Inc.
- Filing Date:
- 2025-02-19
- SEC Url:
- 13D Filing
Ownership Summary
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| RAD Investments LLC | 0 | 2,426,711 | 0 | 2,426,711 | 2,426,711 | 10.2% |
| Ethan Danial | 1,452,371 | 2,426,711 | 1,452,371 | 2,426,711 | 3,879,082 | 16.2% |
Filing
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 11)
|
Tax Free Target Maturity Fund for Puerto Rico Residents, Inc. (Name of Issuer) |
Common Shares, $0.01 par value (Title of Class of Securities) |
87677T105 (CUSIP Number) |
Daniel Morman 5055 Collins Ave, #6L Miami Beach, FL, 33140 (305) 807-2136 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
02/05/2025 (Date of Event Which Requires Filing of This Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the
Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
SCHEDULE 13D
|
| CUSIP No. | 87677T105 |
| 1 |
Name of reporting person
RAD Investments LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
PUERTO RICO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
2,426,711.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
10.2 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
The percentages used herein are based upon 23,897,920 shares of common stock outstanding, which represents the shares of common stock outstanding as of June 30, 2024, according to the Fund's Certified Shareholder Report on Form N-CSR (the "Shareholder Report") filed with the Securities and Exchange Commission ("SEC") on September 5, 2024.
SCHEDULE 13D
|
| CUSIP No. | 87677T105 |
| 1 |
Name of reporting person
Ethan Danial | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC, PF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
3,879,082.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
16.2 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
Comment for Type of Reporting Person:
These Shared Voting Power and Shared Dispositive Power shares are deemed to be beneficially owned by Mr. Danial in his capacity as manager of RAD Investments LLC.
The percentages used herein are based upon 23,897,920 shares of Common Stock outstanding as of June 30, 2024, as disclosed in the Shareholder Report.
SCHEDULE 13D
|
| Item 1. | Security and Issuer |
| (a) | Title of Class of Securities:
Common Shares, $0.01 par value |
| (b) | Name of Issuer:
Tax Free Target Maturity Fund for Puerto Rico Residents, Inc. |
| (c) | Address of Issuer's Principal Executive Offices:
250 Munoz Rivera Avenue, San Juan,
PUERTO RICO
, 00918. |
| Item 2. | Identity and Background |
| (a) | Not Applicable |
| (b) | Not Applicable |
| (c) | Not Applicable |
| (d) | Not Applicable |
| (e) | Not Applicable |
| (f) | Not Applicable |
| Item 3. | Source and Amount of Funds or Other Consideration |
Item 3 is hereby amended and restated in its entirety as follows:
The funds for the purchase of the 2,426,711 shares of Common Stock beneficially owned by RAD Investments LLC were derived from the working capital of RAD Investments LLC. The funds for the purchase of the 1,452,371 shares of Common Stock beneficially owned by Mr. Danial were derived from the personal funds of Mr. Danial. A total of $2,622,875.45, inclusive of broker fees, was paid to acquire the shares of Common Stock reported herein, before giving effect to any return of principal distributions. | |
| Item 4. | Purpose of Transaction |
Not Applicable | |
| Item 5. | Interest in Securities of the Issuer |
| (a) | Items 5(a) - (c) are hereby amended and restated as follows:
(a) and (b) Items 7 through 11 and 13 of each of the cover pages of this Amendment No. 11 and Item 3 are incorporated herein by reference.
The aggregate percentage of shares of Common Stock reported to be owned by each Reporting Person is based upon 23,897,920 shares of Common Stock outstanding as of June 30, 2024, as disclosed in the Issuer's Shareholder Report on Form N-CSR filed with the SEC on September 5, 2024. |
| (b) | Not Applicable |
| (c) | This Schedule sets forth information with respect to each purchase and sale of shares of Common Stock which were effectuated by the Reporting Person during the past sixty days. All transactions were effectuated in the open market through a broker.
Reporting Person Trade Date Shares Purchased (Sold) Price Per Share ($)
Ethan Danial 12/16/2024 19,873 0.685
Ethan Danial 12/27/2024 10,333 0.684
Ethan Danial 1/29/2025 11,000 0.693
Ethan Danial 2/5/2025 42,490 0.693
RAD Investments LLC 12/13/2024 22,139 0.685 |
| (d) | Not Applicable |
| (e) | Not Applicable |
| Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer |
Not Applicable | |
| Item 7. | Material to be Filed as Exhibits. |
Not Applicable |
| SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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