A spectral fluid filter for potential use in hybrid photovoltaic/thermal concentrating solar collectors has been developed, targeting maximum absorption above and transmission below a desired wavelength. In this application, the temperature-dependent bandgap of the potential solar cell is used in the optimization of the filter. Dispersing a mix of colloidal nanoparticles in a heat transfer fluid is shown to absorb 86% of sub-bandgap insolation while absorbing only 18% above bandgap insolation. Transmission above bandgap light would be directly absorbed into the photovoltaic (PV) cell while absorbed photons transfer energy directly into the heat transfer fluid ultimately reducing the number of heat transfer steps. Placement of a filter in front of the PV cell is shown to decrease losses by converting an additional 2% of the total solar energy into thermal energy since it allows recollection of light reflected off the receiver.