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      </invstOrSec>
      <invstOrSec>
        <name>KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE</name>
        <lei>549300XEJZWHYSY4SL55</lei>
        <title>Public Energy Auth. of Kentucky Gas Supply Rev. Refg. C</title>
        <cusip>74440DGL2</cusip>
        <identifiers>
          <isin value="US74440DGL29"/>
        </identifiers>
        <balance>5750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6111077.58000000</valUSD>
        <pctVal>0.540738865657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TARRANT CNTY TEX CULTURAL ED FACS FIN CORP</name>
        <lei>549300ROY505NVTMMI25</lei>
        <title>Tarrant County, TX Cultural Education Fac. Finance Corporation Hospital Rev. (Baylor Scott and White Health) D</title>
        <cusip>87638QSD2</cusip>
        <identifiers>
          <isin value="US87638QSD24"/>
        </identifiers>
        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>799177.43000000</valUSD>
        <pctVal>0.070715236601</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ORANGE CNTY FLA HEALTH FACS AUTH</name>
        <lei>N/A</lei>
        <title>Orange County, FL Health Fac. Auth. Hospital Rev. (Orlando Health Obligated Group) A</title>
        <cusip>68450LJQ9</cusip>
        <identifiers>
          <isin value="US68450LJQ95"/>
        </identifiers>
        <balance>1250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1298125.63000000</valUSD>
        <pctVal>0.114864681630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COLLEGE OF WESTERN IDAHO</name>
        <lei>N/A</lei>
        <title>College of Western Idaho Annual Appropriation COP</title>
        <cusip>194521BG4</cusip>
        <identifiers>
          <isin value="US194521BG44"/>
        </identifiers>
        <balance>3800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3851784.50000000</valUSD>
        <pctVal>0.340825256105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>METROPOLITAN WASHINGTON AIRPORTS AUTHORITY</name>
        <lei>N/A</lei>
        <title>Metropolitan Washington DC Airports Auth. Airport System Rev. Refg. A, AMT</title>
        <cusip>592647MD0</cusip>
        <identifiers>
          <isin value="US592647MD06"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1027599.70000000</valUSD>
        <pctVal>0.090927187366</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LEE CNTY FLA</name>
        <lei>N/A</lei>
        <title>Lee County, FL Airport Rev. AMT</title>
        <cusip>523470HY1</cusip>
        <identifiers>
          <isin value="US523470HY13"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1026610.60000000</valUSD>
        <pctVal>0.090839666826</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO</name>
        <lei>N/A</lei>
        <title>CME Ultra Long Term U.S. Treasury Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="WNM6"/>
        </identifiers>
        <balance>-40.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>79883.20000000</valUSD>
        <pctVal>0.007068467121</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Morgan Stanley &amp; Company</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States Department of The Treasury</issuerName>
                <issueTitle>United States Treasury Note/Bond</issueTitle>
                <identifiers>
                  <cusip value="912810TL2"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-06-18</expDate>
            <notionalAmt>-4681133.20000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>79883.20000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW HAMPSHIRE HEALTH AND EDUCATION FACILITIES AUTHORITY ACT</name>
        <lei>549300CNCK7OT82W5653</lei>
        <title>New Hampshire Health and Education Fac. Auth. Rev. (BAM Insured) A</title>
        <cusip>64461XGY5</cusip>
        <identifiers>
          <isin value="US64461XGY58"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5158245.50000000</valUSD>
        <pctVal>0.456427493177</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOUTHERN UTE INDIAN TRIBE OF THE SOUTHERN UTE INDIAN RESERVATION OF COLORADO</name>
        <lei>549300X0RZRBWLO0J697</lei>
        <title>Southern Ute Indian Tribe of Southern Ute Indian Reservation, CO UTGO A</title>
        <cusip>844090AD2</cusip>
        <identifiers>
          <isin value="US844090AD23"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2158597.40000000</valUSD>
        <pctVal>0.191003549571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OKALOOSA CNTY FLA</name>
        <lei>N/A</lei>
        <title>Okaloosa County, FL Industrial Development Rev. (Air Force Enlisted Village, Inc.)</title>
        <cusip>678226AD3</cusip>
        <identifiers>
          <isin value="US678226AD30"/>
        </identifiers>
        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>756169.28000000</valUSD>
        <pctVal>0.066909659280</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OREGON ST FACS AUTH</name>
        <lei>N/A</lei>
        <title>Oregon Fac. Auth. Rev. (Southern Oregon Goodwill) A</title>
        <cusip>68608JZR5</cusip>
        <identifiers>
          <isin value="US68608JZR57"/>
        </identifiers>
        <balance>1250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1255722.75000000</valUSD>
        <pctVal>0.111112661642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ILLINOIS FINANCE AUTHORITY</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Auth. Student Housing and Academic Fac. Rev. (University of Illinois at Chicago) A</title>
        <cusip>45203KAN5</cusip>
        <identifiers>
          <isin value="US45203KAN54"/>
        </identifiers>
        <balance>2885000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2893649.81000000</valUSD>
        <pctVal>0.256044682036</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO ILL O HARE INTL ARPT</name>
        <lei>N/A</lei>
        <title>Chicago, IL O'Hare International Airport Rev. G, AMT</title>
        <cusip>167593YM8</cusip>
        <identifiers>
          <isin value="US167593YM89"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000025.30000000</valUSD>
        <pctVal>0.088487265833</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VIRGINIA ST SMALL BUSINESS FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>Virginia Small Business Financing Auth. Rev. Refg. (95 Express Lanes, LLC) AMT</title>
        <cusip>928104PX0</cusip>
        <identifiers>
          <isin value="US928104PX01"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>446372.25000000</valUSD>
        <pctVal>0.039497260665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <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"/>
      <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"/>
    </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>
