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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SOLSTICE ADVANCED MATERIALS INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CSX CORP</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CIGNA GROUP</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EASTMAN CHEMICAL COMPANY</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CONOCOPHILLIPS</name>
        <lei>WPTL2Z3FIYTHSP5V2253</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>QUALCOMM INCORPORATED</name>
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        <fairValLevel>1</fairValLevel>
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        <name>JOHNSON &amp; JOHNSON</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DELTA AIR LINES INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <fairValLevel>1</fairValLevel>
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        <name>WARNER BROS DISCOVERY INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CISCO SYSTEMS INC</name>
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        <fairValLevel>1</fairValLevel>
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        <title>Marsh &amp; McLennan Companies, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>UNITEDHEALTH GROUP INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>UNILEVER PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ICON PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>APTIV PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>VISTRA CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ENTERGY CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>GENERAL DYNAMICS CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CONSTELLATION ENERGY CORP</name>
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        <title>Constellation Energy Corporation</title>
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        <fairValLevel>1</fairValLevel>
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        <name>BRISTOL-MYERS SQUIBB CO</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ALLSTATE CORPORATION (THE)</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>Allstate Corporation</title>
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        <fairValLevel>1</fairValLevel>
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        <name>VERSIGENT PLC</name>
        <lei>254900V7AVDC2J9DHM24</lei>
        <title>Versigent plc</title>
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        <assetCat>EC</assetCat>
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        <invCountry>JE</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>SYSCO CORPORATION</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corporation</title>
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        <fairValLevel>1</fairValLevel>
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        <name>AVALONBAY COMMUNITIES INC</name>
        <lei>K9G90K85RBWD2LAGQX17</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>STATE ST INST US GOV MM FUND</name>
        <lei>549300BZ5TGIFZUZDZ37</lei>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD</name>
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          <isin value="US8740391003"/>
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        <assetCat>EC</assetCat>
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        <invCountry>TW</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TD SYNNEX CORP</name>
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          <isin value="US87162W1009"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>HEALTHCARE REALTY TRUST INCORPORATED</name>
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        <title>Healthcare Realty Trust, Inc.</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMENTUM HOLDINGS INC</name>
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        <title>Amentum Holdings, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>EVERGY INC</name>
        <lei>549300PGTHDQY6PSUI61</lei>
        <title>Evergy, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INTERNATIONAL PAPER CO</name>
        <lei>824LMFJDH41EY779Q875</lei>
        <title>International Paper Company</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DUKE ENERGY CORP</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corporation</title>
        <cusip>26441C204</cusip>
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          <isin value="US26441C2044"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JACOBS SOLUTIONS INC</name>
        <lei>254900E3KHXCC2C8K272</lei>
        <title>Jacobs Solutions, Inc.</title>
        <cusip>46982L108</cusip>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>JB HUNT TRANSPORT SERVICES INC</name>
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        <title>JB Hunt Transport Services, Inc.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>D R HORTON INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>JPMORGAN CHASE &amp; CO</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CNH INDUSTRIAL NV</name>
        <lei>549300WGC2HZ5J67V817</lei>
        <title>CNH Industrial NV</title>
        <cusip>N20944109</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>DEVON ENERGY CORPORATION</name>
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        <title>Devon Energy Corporation</title>
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        <fairValLevel>1</fairValLevel>
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        <name>ALPHABET INC</name>
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        <title>Alphabet, Inc., Class C</title>
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        <fairValLevel>1</fairValLevel>
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        <name>KEURIG DR PEPPER INC</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr Pepper, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>WYNDHAM HOTELS &amp; RESORTS INC</name>
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        <title>Wyndham Hotels &amp; Resorts, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>UNIVERSAL MUSIC GROUP NV</name>
        <lei>724500GJBUL3D9TW9Y18</lei>
        <title>Universal Music Group NV</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SONY GROUP CORP</name>
        <lei>529900R5WX9N2OI2N910</lei>
        <title>Sony Group Corporation ADR</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>WARNER MUSIC GROUP CORP</name>
        <lei>N/A</lei>
        <title>Warner Music Group Corporation</title>
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        <fairValLevel>1</fairValLevel>
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        <name>CHUBB LTD</name>
        <lei>E0JAN6VLUDI1HITHT809</lei>
        <title>Chubb, Ltd.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>CROWN HOLDINGS INC</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>INTERNATIONAL BUSINESS MACHINES CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>METLIFE INC</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>COMCAST CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>CHARLES SCHWAB CORPORATION (THE)</name>
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        <title>Charles Schwab Corporation</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MICROSOFT CORPORATION</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corporation</title>
        <cusip>594918104</cusip>
        <identifiers>
          <isin value="US5949181045"/>
        </identifiers>
        <balance>266004.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>108471111.12000100</valUSD>
        <pctVal>3.070448946165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Data presented is directly from day-to-day accounting records of Fund used to calculate net asset value per share.  It does not reflect adjustments necessary to make data GAAP compliant, such as reclassifying prepaid expenses, expenses reimbursements, and/or any other related adjustments." noteItem="B.1.b"/>
      <explntrNote note="For derivatives owned, if any, Unrealized Appreciation/Depreciation is reported as Value for future and swap type derivatives.  Actual security Value is reported for option type derivatives." noteItem="C.2.c"/>
      <explntrNote note="The daily NAV is calculated on a T+1 basis on most days. The current exception to this occurs on the fiscal quarter ends. On these fiscal quarter end dates, the NAV is calculated on a T+0 basis." noteItem="B.1.c"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-05-27</ncom:dateSigned>
      <ncom:nameOfApplicant>Thrivent Mutual Funds</ncom:nameOfApplicant>
      <ncom:signature>Sarah L. Bergstrom</ncom:signature>
      <ncom:signerName>Sarah L. Bergstrom</ncom:signerName>
      <ncom:title>Treasurer and Principal Accounting Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
