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        <lei>549300IUTGTP6EJP8124</lei>
        <title>Leidos Holdings, Inc.</title>
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      <invstOrSec>
        <name>CROCS INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ARCH CAPITAL GROUP LTD</name>
        <lei>549300AYR4P8AFKDCE43</lei>
        <title>Arch Capital Group, Ltd.</title>
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          <isin value="BMG0450A1053"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DOCUSIGN INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HOWMET AEROSPACE INC</name>
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        <title>Howmet Aerospace, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Thrivent Mutual Funds</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <cashCollateralCondition cashCollateralVal="68074050.00000000" isCashCollateral="Y"/>
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      <invstOrSec>
        <name>WATERS CORP</name>
        <lei>5T547R1474YC9HOD8Q74</lei>
        <title>Waters Corporation</title>
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          <isin value="US9418481035"/>
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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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      <invstOrSec>
        <name>TRIMBLE INC</name>
        <lei>549300E2MI7NSZFQWS19</lei>
        <title>Trimble, Inc.</title>
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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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      <invstOrSec>
        <name>ALIGN TECHNOLOGY INC</name>
        <lei>549300N5YSE0U3LCP840</lei>
        <title>Align Technology, Inc.</title>
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          <isin value="US0162551016"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TIMKEN CO</name>
        <lei>B0I35MLPFXZSE70ASS73</lei>
        <title>Timken Company</title>
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          <isin value="US8873891043"/>
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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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      <invstOrSec>
        <name>NVR INC</name>
        <lei>529900RWXR4JI3JYTV70</lei>
        <title>NVR, Inc.</title>
        <cusip>62944T105</cusip>
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          <isin value="US62944T1051"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EXPEDITORS INTL WASH INC</name>
        <lei>984500B055A804AB6E40</lei>
        <title>Expeditors International of Washington, Inc.</title>
        <cusip>302130109</cusip>
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          <isin value="US3021301094"/>
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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>NORTHERN TR CORP</name>
        <lei>549300GLF98S992BC502</lei>
        <title>Northern Trust Corporation</title>
        <cusip>665859104</cusip>
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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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      <invstOrSec>
        <name>RADIAN GROUP INC</name>
        <lei>54930005OUP720S5U385</lei>
        <title>Radian Group, Inc.</title>
        <cusip>750236101</cusip>
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          <isin value="US7502361014"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHAMPION HOMES INC</name>
        <lei>N/A</lei>
        <title>Champion Homes, Inc.</title>
        <cusip>830830105</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>NEUROCRINE BIOSCIENCES INC</name>
        <lei>549300FECER0XBN49756</lei>
        <title>Neurocrine Biosciences, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>M &amp; T BK CORP</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corporation</title>
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        <fairValLevel>1</fairValLevel>
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        <name>CENTERPOINT ENERGY INC</name>
        <lei>21TPXMRRHFKOBHDC8J74</lei>
        <title>CenterPoint Energy, Inc.</title>
        <cusip>15189T107</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>CENTENE CORP DEL</name>
        <lei>549300Z7JJ4TQSQGT333</lei>
        <title>Centene Corporation</title>
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        <name>ON SEMICONDUCTOR CORP</name>
        <lei>ZV20P4CNJVT8V1ZGJ064</lei>
        <title>ON Semiconductor Corporation</title>
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        <name>FASTENAL CO</name>
        <lei>529900PP0C7H2HHPSJ32</lei>
        <title>Fastenal Company</title>
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        <assetCat>EC</assetCat>
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        <name>EXPAND ENERGY CORP</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
        <title>Expand Energy Corporation</title>
        <cusip>165167735</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>NISOURCE INC</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource, Inc.</title>
        <cusip>65473P105</cusip>
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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>STEEL DYNAMICS INC</name>
        <lei>549300HGGKEL4FYTTQ83</lei>
        <title>Steel Dynamics, Inc.</title>
        <cusip>858119100</cusip>
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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>SOUTHWEST AIRLS CO</name>
        <lei>UDTZ87G0STFETI6HGH41</lei>
        <title>Southwest Airlines Company</title>
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          <isin value="US8447411088"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CIENA CORP</name>
        <lei>W0CZ7N0GH8UIGXDM1H41</lei>
        <title>Ciena Corporation</title>
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          <isin value="US1717793095"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CASEYS GEN STORES INC</name>
        <lei>549300CAFWSI86V66Q65</lei>
        <title>Casey's General Stores, Inc.</title>
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          <isin value="US1475281036"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BJS WHSL CLUB HLDGS INC</name>
        <lei>549300UCIWH1C93V0J03</lei>
        <title>BJ's Wholesale Club Holdings, Inc.</title>
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          <isin value="US05550J1016"/>
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        <balance>482798.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <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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      <invstOrSec>
        <name>OLD DOMINION FREIGHT LINE INC</name>
        <lei>5299009TWK32WE417T96</lei>
        <title>Old Dominion Freight Line, Inc.</title>
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          <isin value="US6795801009"/>
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        <balance>461990.00000000</balance>
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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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      <invstOrSec>
        <name>QORVO INC</name>
        <lei>254900YAUJV2EUEVBR11</lei>
        <title>Qorvo, Inc.</title>
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          <isin value="US74736K1016"/>
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        <balance>870063.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <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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      <invstOrSec>
        <name>State Street Institutional US</name>
        <lei>549300BZ5TGIFZUZDZ37</lei>
        <title>State Street Institutional U.S. Government Money Market Fund</title>
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          <isin value="US8574927062"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LULULEMON ATHLETICA INC</name>
        <lei>549300D9GZ4BMLDW5T40</lei>
        <title>Lululemon Athletica, Inc.</title>
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          <isin value="US5500211090"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FIRST INDL RLTY TR INC</name>
        <lei>N/A</lei>
        <title>First Industrial Realty Trust, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED RENTALS INC</name>
        <lei>5323X5O7RN0NKFCDRY08</lei>
        <title>United Rentals, Inc.</title>
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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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      <invstOrSec>
        <name>KINSALE CAP GROUP INC</name>
        <lei>529900QTUQHNZ6HOA508</lei>
        <title>Kinsale Capital Group, Inc.</title>
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          <isin value="US49714P1084"/>
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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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      <invstOrSec>
        <name>ALBEMARLE CORP</name>
        <lei>HDBLS2Q6GV1LSKQPBS54</lei>
        <title>Albemarle Corporation</title>
        <cusip>012653101</cusip>
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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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERIPRISE FINL INC</name>
        <lei>6ZLKQF7QB6JAEKQS5388</lei>
        <title>Ameriprise Financial, Inc.</title>
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          <isin value="US03076C1062"/>
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        <balance>113450.00000000</balance>
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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>PROGYNY INC</name>
        <lei>N/A</lei>
        <title>Progyny, Inc.</title>
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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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        <name>DECKERS OUTDOOR CORP</name>
        <lei>5493008LG4W3I6K8J118</lei>
        <title>Deckers Outdoor Corporation</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>EXTRA SPACE STORAGE INC</name>
        <lei>N/A</lei>
        <title>Extra Space Storage, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>ALLY FINL INC</name>
        <lei>549300JBN1OSM8YNAI90</lei>
        <title>Ally Financial, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>ROCKWELL AUTOMATION INC</name>
        <lei>VH3R4HHBHH12O0EXZJ88</lei>
        <title>Rockwell Automation, Inc.</title>
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        <name>DEVON ENERGY CORP NEW</name>
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        <title>Devon Energy Corporation</title>
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        <fairValLevel>1</fairValLevel>
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        <name>ZEBRA TECHNOLOGIES CORP</name>
        <lei>PO0I32GKZ3HZMMDPZZ08</lei>
        <title>Zebra Technologies Corporation</title>
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        <fairValLevel>1</fairValLevel>
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        <name>TRADEWEB MKTS INC</name>
        <lei>N/A</lei>
        <title>Tradeweb Markets, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>ZIONS BANCORPORATION</name>
        <lei>8WH0EE09O9V05QJZ3V89</lei>
        <title>Zions Bancorp NA</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>SBA COMMUNICATIONS CORP NEW</name>
        <lei>5299001HX8ZN8Y8QIT49</lei>
        <title>SBA Communications Corporation</title>
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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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        <name>QUANTA SVCS INC</name>
        <lei>SHVRXXEACT60MMH07S24</lei>
        <title>Quanta Services, Inc.</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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    </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>2025-05-28</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>
