Form D Raw Data - Electronic Filing Depository

EFDID: 206318EFD: Raw Data

Issuer: 503 Capital Partners Direct Municipal Opportunities Fund, LP (0001690081) - D/A

Accession: 0001690081-25-000003 () (EDGAR Files) (Form D)

Edgar Posted: Dec. 16, 2025
EFD Posted: Dec. 16, 2025

- < edgarSubmission >

< schemaVersion > X0708 </ schemaVersion >

< submissionType > D/A </ submissionType >

< testOrLive > LIVE </ testOrLive >

- < primaryIssuer >

< cik > 0001690081 </ cik >

< entityName > 503 Capital Partners Direct Municipal Opportunities Fund, LP </ entityName >

- < issuerAddress >

< street1 > 4000 W. 114TH STREET </ street1 >

< street2 > SUITE 260 </ street2 >

< city > LEAWOOD </ city >

< stateOrCountry > KS </ stateOrCountry >

< stateOrCountryDescription > KANSAS </ stateOrCountryDescription >

< zipCode > 66211 </ zipCode >

</ issuerAddress >

< issuerPhoneNumber > 9132790177 </ issuerPhoneNumber >

< jurisdictionOfInc > DELAWARE </ jurisdictionOfInc >

- < edgarPreviousNameList >

< previousName > Tortoise Direct Municipal Opportunities Fund, LP </ previousName >

</ edgarPreviousNameList >

< entityType > Limited Partnership </ entityType >

- < yearOfInc >

< overFiveYears > true </ overFiveYears >

</ yearOfInc >

</ primaryIssuer >

- < relatedPersonsList >

- < relatedPersonInfo >

- < relatedPersonName >

< firstName > n/a </ firstName >

< lastName > Tortoise Municipal Credit GP, LLC </ lastName >

</ relatedPersonName >

- < relatedPersonAddress >

< street1 > 11550 Ash Street </ street1 >

< street2 > Suite 300 </ street2 >

< city > Leawood </ city >

< stateOrCountry > KS </ stateOrCountry >

< stateOrCountryDescription > KANSAS </ stateOrCountryDescription >

< zipCode > 66211 </ zipCode >

</ relatedPersonAddress >

- < relatedPersonRelationshipList >

< relationship > Promoter </ relationship >

</ relatedPersonRelationshipList >

< relationshipClarification > The General Partner of the Issuer (the "GP"). </ relationshipClarification >

</ relatedPersonInfo >

- < relatedPersonInfo >

- < relatedPersonName >

< firstName > Connie </ firstName >

< lastName > Savage </ lastName >

</ relatedPersonName >

- < relatedPersonAddress >

< street1 > 11550 Ash Street </ street1 >

< street2 > Suite 300 </ street2 >

< city > Leawood </ city >

< stateOrCountry > KS </ stateOrCountry >

< stateOrCountryDescription > KANSAS </ stateOrCountryDescription >

< zipCode > 66211 </ zipCode >

</ relatedPersonAddress >

- < relatedPersonRelationshipList >

< relationship > Director </ relationship >

</ relatedPersonRelationshipList >

< relationshipClarification > Director of the GP of the Issuer. </ relationshipClarification >

</ relatedPersonInfo >

- < relatedPersonInfo >

- < relatedPersonName >

< firstName > Bradley </ firstName >

< lastName > Beman </ lastName >

</ relatedPersonName >

- < relatedPersonAddress >

< street1 > 11550 Ash Street </ street1 >

< street2 > Suite 300 </ street2 >

< city > Leawood </ city >

< stateOrCountry > KS </ stateOrCountry >

< stateOrCountryDescription > KANSAS </ stateOrCountryDescription >

< zipCode > 66211 </ zipCode >

</ relatedPersonAddress >

- < relatedPersonRelationshipList >

< relationship > Director </ relationship >

</ relatedPersonRelationshipList >

< relationshipClarification > Director of the GP of the Issuer. </ relationshipClarification >

</ relatedPersonInfo >

- < relatedPersonInfo >

- < relatedPersonName >

< firstName > Michelle </ firstName >

< lastName > Kelly </ lastName >

</ relatedPersonName >

- < relatedPersonAddress >

< street1 > 11550 Ash Street </ street1 >

< street2 > Suite 300 </ street2 >

< city > Leawood </ city >

< stateOrCountry > KS </ stateOrCountry >

< stateOrCountryDescription > KANSAS </ stateOrCountryDescription >

< zipCode > 66211 </ zipCode >

</ relatedPersonAddress >

- < relatedPersonRelationshipList >

< relationship > Director </ relationship >

</ relatedPersonRelationshipList >

< relationshipClarification > Director of the GP of the Issuer. </ relationshipClarification >

</ relatedPersonInfo >

</ relatedPersonsList >

- < offeringData >

- < industryGroup >

< industryGroupType > Pooled Investment Fund </ industryGroupType >

- < investmentFundInfo >

< investmentFundType > Private Equity Fund </ investmentFundType >

< is40Act > false </ is40Act >

</ investmentFundInfo >

</ industryGroup >

- < issuerSize >

< revenueRange > Decline to Disclose </ revenueRange >

</ issuerSize >

- < federalExemptionsExclusions >

< item > 06b </ item >

< item > 3C </ item >

< item > 3C.7 </ item >

</ federalExemptionsExclusions >

- < typeOfFiling >

- < newOrAmendment >

< isAmendment > true </ isAmendment >

< previousAccessionNumber > 0001690081-17-000001 </ previousAccessionNumber >

</ newOrAmendment >

- < dateOfFirstSale >

< value > 2016-12-30 </ value >

</ dateOfFirstSale >

</ typeOfFiling >

- < durationOfOffering >

< moreThanOneYear > false </ moreThanOneYear >

</ durationOfOffering >

- < typesOfSecuritiesOffered >

< isPooledInvestmentFundType > true </ isPooledInvestmentFundType >

</ typesOfSecuritiesOffered >

- < businessCombinationTransaction >

< isBusinessCombinationTransaction > false </ isBusinessCombinationTransaction >

< clarificationOfResponse />

</ businessCombinationTransaction >

< minimumInvestmentAccepted > 0 </ minimumInvestmentAccepted >

- < salesCompensationList >

- < recipient >

< recipientName > Montage Securities, LLC </ recipientName >

< recipientCRDNumber > 154327 </ recipientCRDNumber >

< associatedBDName > Montage Securities LLC </ associatedBDName >

< associatedBDCRDNumber > 154327 </ associatedBDCRDNumber >

- < recipientAddress >

< street1 > 5700 West 112th Street </ street1 >

< street2 > Suite 500 </ street2 >

< city > Overland Park </ city >

< stateOrCountry > KS </ stateOrCountry >

< stateOrCountryDescription > KANSAS </ stateOrCountryDescription >

< zipCode > 66211 </ zipCode >

</ recipientAddress >

- < statesOfSolicitationList >

< value > All States </ value >

</ statesOfSolicitationList >

< foreignSolicitation > false </ foreignSolicitation >

</ recipient >

</ salesCompensationList >

- < offeringSalesAmounts >

< totalOfferingAmount > 81500000 </ totalOfferingAmount >

< totalAmountSold > 81500000 </ totalAmountSold >

< totalRemaining > 0 </ totalRemaining >

< clarificationOfResponse />

</ offeringSalesAmounts >

- < investors >

< hasNonAccreditedInvestors > false </ hasNonAccreditedInvestors >

< totalNumberAlreadyInvested > 212 </ totalNumberAlreadyInvested >

</ investors >

- < salesCommissionsFindersFees >

- < salesCommissions >

< dollarAmount > 0 </ dollarAmount >

</ salesCommissions >

- < findersFees >

< dollarAmount > 0 </ dollarAmount >

</ findersFees >

< clarificationOfResponse > Employees of affiliates of the GP ("Tortoise") involved in the placement of fund interests received compensation in part based on the amount of capital raised for the fund; such compensation is borne by Tortoise and not by the fund's investors. </ clarificationOfResponse >

</ salesCommissionsFindersFees >

- < useOfProceeds >

- < grossProceedsUsed >

< dollarAmount > 0 </ dollarAmount >

</ grossProceedsUsed >

< clarificationOfResponse />

</ useOfProceeds >

- < signatureBlock >

< authorizedRepresentative > false </ authorizedRepresentative >

- < signature >

< issuerName > 503 Capital Partners Direct Municipal Opportunities Fund, LP </ issuerName >

< signatureName > Kate Moore </ signatureName >

< nameOfSigner > Kate Moore </ nameOfSigner >

< signatureTitle > Managing Partner </ signatureTitle >

< signatureDate > 2025-12-16 </ signatureDate >

</ signature >

</ signatureBlock >

</ offeringData >

</ edgarSubmission >