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        <lei>N/A</lei>
        <title>Harris County, TX Toll Road Rev. A</title>
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        <name>HAWAII DEPARTMENT OF TRANSPORTATION</name>
        <lei>N/A</lei>
        <title>Hawaii Department of Transportation Airport Division Lease Rev. COP AMT</title>
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        <issuerCat>MUN</issuerCat>
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        <title>Texas Private Activity Bond Surface Transportation Corporation Rev. (Segment 3C) AMT</title>
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          <isin value="US882667AN81"/>
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      </invstOrSec>
      <invstOrSec>
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          <isin value="US882667BU16"/>
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        <valUSD>499410.15000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TEXAS PRIVATE ACTIVITY SURFACE TRANSPORTATION CORP</name>
        <lei>N/A</lei>
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          <isin value="US882667BV98"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>TEXAS PRIVATE ACTIVITY SURFACE TRANSPORTATION CORP</name>
        <lei>N/A</lei>
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          <isin value="US882667BX54"/>
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        <curCd>USD</curCd>
        <valUSD>3093987.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TEXAS ST TECHNICAL COLLEGE</name>
        <lei>N/A</lei>
        <title>Texas Technical College System Rev. (Financing System Improvement) (AG Insured) A</title>
        <cusip>88276RFL1</cusip>
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          <isin value="US88276RFL15"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3258489.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>TOBACCO SETTLEMENT FING CORP N J</name>
        <lei>N/A</lei>
        <title>Tobacco Settlement Financing Corporation, NJ Rev. Refg. A</title>
        <cusip>888808HR6</cusip>
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          <isin value="US888808HR61"/>
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        <balance>8950000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8913051.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TROY CAPITAL RESOURCE CORP</name>
        <lei>N/A</lei>
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        <cusip>897579BX5</cusip>
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          <isin value="US897579BX59"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>793866.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UAB MEDICINE FIN AUTH ALA</name>
        <lei>N/A</lei>
        <title>UAB Medicine Finance Auth., AL Rev. Refg. B2</title>
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          <isin value="US902562CJ46"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2026498.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNIVERSITY N D</name>
        <lei>N/A</lei>
        <title>University of North Dakota COP (Infrastructure Energy Improvement) A</title>
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        <identifiers>
          <isin value="US914724BN82"/>
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        <balance>3775000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3823704.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>UPPER TRINITY REGL WTR DIST TEX</name>
        <lei>N/A</lei>
        <title>Upper Trinity, TX Regional Water District Water Rev. Refg. (BAM Insured)</title>
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          <isin value="US916672Y519"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2408799.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <name>UTAH TELECOMMUNICATION OPEN INFRASTRUCTURE AGENCY</name>
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        <title>Utah Infrastructure Agency Telecommunication Rev.</title>
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          <isin value="US917467CP59"/>
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        <curCd>USD</curCd>
        <valUSD>377881.14000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <name>UTAH CHARTER SCHOOL FIN AUTH</name>
        <lei>N/A</lei>
        <title>Utah Charter School Finance Auth. Rev. (Utah Charter Academies)</title>
        <cusip>91754TWL3</cusip>
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          <isin value="US91754TWL33"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>800570.80000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>VALDEZ ALASKA</name>
        <lei>N/A</lei>
        <title>Valdez, AK Marine Terminal Rev. Refg. (Exxon Pipeline Company)</title>
        <cusip>919061DV0</cusip>
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          <isin value="US919061DV07"/>
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        <curCd>USD</curCd>
        <valUSD>1030000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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        <name>VALPARAISO IND</name>
        <lei>N/A</lei>
        <title>Valparaiso, IN Exempt Fac. Rev. Refg. (Pratt Paper, LLC) AMT</title>
        <cusip>92028RAF2</cusip>
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          <isin value="US92028RAF29"/>
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        <balance>350000.00000000</balance>
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        <valUSD>343469.98000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO 15</name>
        <lei>N/A</lei>
        <title>Village Community Development District No. 15, Wildwood, FL SAB</title>
        <cusip>92708KAE7</cusip>
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          <isin value="US92708KAE73"/>
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        <balance>290000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO 15</name>
        <lei>N/A</lei>
        <title>Village Community Development District No. 15, Wildwood, FL SAB</title>
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          <isin value="US92708KAK34"/>
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          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>VIRGINIA ST SMALL BUSINESS FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>Virginia Small Business Financing Auth. Rev. (Transform 66 P3) AMT</title>
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          <isin value="US928097AA20"/>
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        <balance>610000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>VIRGINIA ST SMALL BUSINESS FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>Virginia Small Business Financing Auth. Rev. (Transform 66 P3) AMT</title>
        <cusip>928097AB0</cusip>
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          <isin value="US928097AB03"/>
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    </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="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="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"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-02-26</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>
  <documents>XXXX</documents>
</edgarSubmission>
