# EDGAR Filing Document

**Accession Number:** 0000811869
**File Stem:** 0000811869-25-000298
**Filing Date:** 2025-12
**Character Count:** 33725
**Document Hash:** d184450934fa0c294227b0db2cf1c211
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000811869-25-000298.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0000811869-25-000298

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** THRIVENT MUTUAL FUNDS
- **CENTRAL INDEX KEY:** 0000811869

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05075
- **FILM NUMBER:** 251603924

**BUSINESS ADDRESS:**
- **STREET 1:** 901 MARQUETTE AVENUE, SUITE 2500
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402-3211
- **BUSINESS PHONE:** 612-844-7190

**MAIL ADDRESS:**
- **STREET 1:** 901 MARQUETTE AVENUE, SUITE 2500
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402-3211

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AAL MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Thrivent Small Cap Stock Fund (Series ID: S000001358)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000003627 | Class A      | AASMX           |
| C000003629 | Class S      | TSCSX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Thrivent Mutual Funds

- **b. Investment Company Act file number:** 811-05075

- **c. CIK number of Registrant:** 0000811869

- **d. LEI of Registrant:** 549300K3CUETFK7U3B57

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 901 Marquette Avenue

  - **City:** Minneapolis

  - **State:** MN

  - **Foreign country:** US

  - **Zip / Postal Code:** 55402-3211

  - **Telephone number:** 612-844-5168

**Item A.2. Information about the Series.**

- **a. Name of Series:** THRIVENT SMALL CAP STOCK FUND

- **b. EDGAR series identifier (if any):** S000001358

- **c. LEI of Series:** 54930033VZGELENQRN13

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $2887419306.54

**Total Liabilities:** $2628786.45

**Net Assets:** $2884790520.09

**Cash Not Reported:** $70.52

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000003629 | 5.58%                | -1.18%               | -1.81%               |
| Class ID C000003627 | 5.58%                | -1.22%               | -1.82%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-7302278.76             | $171522797.94                              |
| Month 2  | $-21154523.72            | $-18755399.52                              |
| Month 3  | $-37795342.65            | $-14361282.20                              |

### Schedule of Portfolio Investments

| Name                                      | Title                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| State Street Institutional US             | State Street Institutional U.S. Government Money Market Fund | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |  16736934 | NS      | $16736934.40  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERPRISE FINL SVCS CORP                 | Enterprise Financial Services Corporation                    | CUSIP: 293712105<br>LEI: 5493001XTU5DLD632129 | Long             | EC               | CORP              | US        |    551592 | NS      | $28886873.04  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SHARKNINJA INC                            | SharkNinja, Inc.                                             | CUSIP: G8068L108<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    530155 | NS      | $45328252.50  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| TECHNIPFMC PLC                            | TechnipFMC plc                                               | CUSIP: G87110105<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |   1038734 | NS      | $42951650.90  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCE AUTO PTS INC                      | Advance Auto Parts, Inc.                                     | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |    494279 | NS      | $23295369.27  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| J & J SNACK FOODS CORP                    | J & J Snack Foods Corporation                                | CUSIP: 466032109<br>LEI: 894500IGP1Y2ZQFQMJ83 | Long             | EC               | CORP              | US        |     56615 | NS      | $4792459.75   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| FABRINET                                  | Fabrinet                                                     | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |    126255 | NS      | $55624165.35  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF NT BUTTERFIELD & SON LTD          | Bank of N.T. Butterfield & Son, Ltd.                         | CUSIP: G0772R208<br>LEI: 549300V8RVM0EMTDPF28 | Long             | EC               | CORP              | BM        |    331256 | NS      | $15323902.56  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| VIEMED HEALTHCARE INC                     | Viemed Healthcare, Inc.                                      | CUSIP: 92663R105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     74883 | NS      | $483744.18    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BUILD-A-BEAR WORKSHOP INC                 | Build-A-Bear Workshop, Inc.                                  | CUSIP: 120076104<br>LEI: 529900S9MWZC1UBF3D13 | Long             | EC               | CORP              | US        |    586475 | NS      | $31798674.50  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPAND ENERGY CORP                        | Expand Energy Corporation                                    | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |    230867 | NS      | $23850869.77  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC                    | Group 1 Automotive, Inc.                                     | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |     66421 | NS      | $26405004.34  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| ICF INTL INC                              | ICF International, Inc.                                      | CUSIP: 44925C103<br>LEI: 5493003KYFDDC5B3WY64 | Long             | EC               | CORP              | US        |    321373 | NS      | $25799824.44  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| PROGYNY INC                               | Progyny, Inc.                                                | CUSIP: 74340E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1324441 | NS      | $24780291.11  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| ENCOMPASS HEALTH CORP                     | Encompass Health Corporation                                 | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |    396810 | NS      | $45176818.50  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| REPLIGEN CORP                             | Repligen Corporation                                         | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |    282519 | NS      | $42112282.14  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| TWIST BIOSCIENCE CORP                     | Twist Bioscience Corporation                                 | CUSIP: 90184D100<br>LEI: 549300T23BL59LCOH584 | Long             | EC               | CORP              | US        |    830343 | NS      | $27309981.27  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| TREX CO INC                               | Trex Company, Inc.                                           | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    627192 | NS      | $30305917.44  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TRIUMPH BANCORP INC                       | Triumph Financial, Inc.                                      | CUSIP: 89679E300<br>LEI: 5493003RNRMEVYDZ1Q52 | Long             | EC               | CORP              | US        |    818906 | NS      | $44597620.76  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| WYNDHAM HOTELS & RESORTS INC              | Wyndham Hotels & Resorts, Inc.                               | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |    457216 | NS      | $33573370.88  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEMENT SOLUTIONS INC                     | Element Solutions, Inc.                                      | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |   1198369 | NS      | $32020419.68  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Semiconductor ETF                 | iShares Semiconductor ETF                                    | CUSIP: 464287523<br>LEI: 5493004SPI3IF1GDIR85 | Long             |  | RF                | US        |    188498 | NS      | $57784061.90  | 2.00%             |  |  |  | No            |                  1 | On Loan: —       |
| BWX TECHNOLOGIES INC                      | BWX Technologies, Inc.                                       | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |    314874 | NS      | $67260235.14  | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| HOULIHAN LOKEY INC                        | Houlihan Lokey, Inc.                                         | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |    209061 | NS      | $37438643.88  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| GREIF INC                                 | Greif, Inc.                                                  | CUSIP: 397624107<br>LEI: 54930070FVGKR0Z1FI24 | Long             | EC               | CORP              | US        |    590590 | NS      | $33598665.10  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SILICON LABORATORIES INC                  | Silicon Laboratories, Inc.                                   | CUSIP: 826919102<br>LEI: 4PRDF8Q9TDHRVZKZSZ47 | Long             | EC               | CORP              | US        |    184210 | NS      | $24146246.80  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| MOOG INC                                  | Moog, Inc.                                                   | CUSIP: 615394202<br>LEI: 549300WM2I4U7OBAHG07 | Long             | EC               | CORP              | US        |    231264 | NS      | $47374430.40  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDPACE HLDGS INC                         | Medpace Holdings, Inc.                                       | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |     63567 | NS      | $37180973.97  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ACUITY INC                                | Acuity, Inc.                                                 | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     85576 | NS      | $31239518.80  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| GATES INDL CORP PLC                       | Gates Industrial Corporation plc                             | CUSIP: G39108108<br>LEI: 549300S6K4FWUSB9KM27 | Long             | EC               | CORP              | GB        |   2019222 | NS      | $44584421.76  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| MODINE MFG CO                             | Modine Manufacturing Company                                 | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |    228995 | NS      | $35084323.95  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| WAYSTAR HLDG CORP                         | Waystar Holding Corporation                                  | CUSIP: 946784105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    797323 | NS      | $28584029.55  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| LITTELFUSE INC                            | Littelfuse, Inc.                                             | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |    168824 | NS      | $41076567.44  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| WINGSTOP INC                              | Wingstop, Inc.                                               | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |    115804 | NS      | $25086620.52  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| CUSHMAN & WAKEFIELD PLC                   | Cushman and Wakefield plc                                    | CUSIP: G2717B108<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |   2069891 | NS      | $32497288.70  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| LIMBACH HLDGS INC                         | Limbach Holdings, Inc.                                       | CUSIP: 53263P105<br>LEI: 254900EW8KXT5ZTWQI30 | Long             | EC               | CORP              | US        |    365231 | NS      | $34507024.88  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| CRANE NXT CO                              | Crane NXT Company                                            | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               | CORP              | US        |    845017 | NS      | $53447325.25  | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| WEST FRASER TIMBER CO LTD                 | West Fraser Timber Company, Ltd.                             | CUSIP: 952845105<br>LEI: 5493005WD1ZK6WBVR988 | Long             | EC               | CORP              | CA        |    583219 | NS      | $35576359.00  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| PORTLAND GEN ELEC CO                      | Portland General Electric Company                            | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |    709205 | NS      | $32396484.40  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| WINTRUST FINL CORP                        | Wintrust Financial Corporation                               | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |    301341 | NS      | $39180356.82  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CONCENTRA GROUP HLDGS PARENT INC          | Concentra Group Holdings Parent, Inc.                        | CUSIP: 20603L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1886498 | NS      | $37579040.16  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERPAC TOOL GROUP CORP                   | Enerpac Tool Group Corporation                               | CUSIP: 292765104<br>LEI: IZW37BPZKUJE1QXGB081 | Long             | EC               | CORP              | US        |    583541 | NS      | $23948522.64  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| PLEXUS CORP                               | Plexus Corporation                                           | CUSIP: 729132100<br>LEI: 549300W7HCBI5YT25I79 | Long             | EC               | CORP              | US        |    189962 | NS      | $26575683.80  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHWESTERN ENERGY GROUP INC             | Northwestern Energy Group, Inc.                              | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |    342630 | NS      | $20444732.10  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| SANFILIPPO JOHN B & SON INC               | John B. Sanfilippo & Son, Inc.                               | CUSIP: 800422107<br>LEI: 5299007IBEYVXKYDUX28 | Long             | EC               | CORP              | US        |    589189 | NS      | $36989285.42  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| HELIOS TECHNOLOGIES INC                   | Helios Technologies, Inc.                                    | CUSIP: 42328H109<br>LEI: 5493000BCJSMIDRNTI78 | Long             | EC               | CORP              | US        |   1092734 | NS      | $60493754.24  | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| TERRENO RLTY CORP                         | Terreno Realty Corporation                                   | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    720260 | NS      | $41148453.80  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| OLD NATL BANCORP IND                      | Old National Bancorp                                         | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |   1464804 | NS      | $29925945.72  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MARZETTI CO                               | Marzetti Company                                             | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |    214637 | NS      | $33652935.23  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| IVANHOE MINES LTD                         | Ivanhoe Mines, Ltd.                                          | CUSIP: 46579R955<br>LEI: 5299006XZISURYIA4G32 | Long             | EC               | CORP              | CA        |   4737672 | NS      | $47391920.54  | 1.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Thrivent Mutual Funds                     | Thrivent Cash Management Trust                               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |  49406175 | NS      | $49406175.00  | 1.71%             |  |  |  | No            |                  2 | On Loan: No      |
| AGREE RLTY CORP                           | Agree Realty Corporation                                     | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    197345 | NS      | $14408158.45  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY LIFESTYLE PPTYS INC                | Equity Lifestyle Properties, Inc.                            | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |    419838 | NS      | $25631109.90  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| KORN FERRY                                | Korn Ferry                                                   | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |    543959 | NS      | $35194147.30  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BADGER INFRASTRUCTURE SOLUTIONS LTD       | Badger Infrastructure Solutions, Ltd.                        | CUSIP: 056533953<br>LEI: 254900BS2WTIBXVDKM03 | Long             | EC               | CORP              | CA        |    852442 | NS      | $44726538.65  | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| PENUMBRA INC                              | Penumbra, Inc.                                               | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |    192468 | NS      | $43761449.16  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOT BARN HLDGS INC                       | Boot Barn Holdings, Inc.                                     | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |    221249 | NS      | $41959872.85  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ASHLAND INC                               | Ashland, Inc.                                                | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |    510574 | NS      | $24967068.60  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| IES HLDGS INC                             | IES Holdings, Inc.                                           | CUSIP: 44951W106<br>LEI: 549300687T8E6LN6EN72 | Long             | EC               | CORP              | US        |     87589 | NS      | $34324377.32  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BARRETT BUSINESS SVCS INC                 | Barrett Business Services, Inc.                              | CUSIP: 068463108<br>LEI: 529900HXB6TMG0SR9Y34 | Long             | EC               | CORP              | US        |   1229636 | NS      | $49763368.92  | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| LA Z BOY INC                              | La-Z-Boy, Inc.                                               | CUSIP: 505336107<br>LEI: 549300WNO1WMN9ZG2519 | Long             | EC               | CORP              | US        |    397966 | NS      | $12615522.20  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| STEVANATO GROUP S P A                     | Stevanato Group SPA                                          | CUSIP: T9224W109<br>LEI: 81560033F7E1CD477507 | Long             | EC               | CORP              | IT        |   1527459 | NS      | $38522515.98  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| OLIN CORP                                 | Olin Corporation                                             | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Long             | EC               | CORP              | US        |     23178 | NS      | $479784.60    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLY FINL INC                             | Ally Financial, Inc.                                         | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |    844622 | NS      | $32914919.34  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ADMA BIOLOGICS INC                        | ADMA Biologics, Inc.                                         | CUSIP: 000899104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2375935 | NS      | $36779473.80  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIDGEWATER BANCSHARES INC                | Bridgewater Bancshares, Inc.                                 | CUSIP: 108621103<br>LEI: 5493001FLSBTVILKXZ71 | Long             | EC               | CORP              | US        |   1703786 | NS      | $28044317.56  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| GLACIER BANCORP INC NEW                   | Glacier Bancorp, Inc.                                        | CUSIP: 37637Q105<br>LEI: 549300SMJAUKZB5D7V74 | Long             | EC               | CORP              | US        |    605999 | NS      | $24755059.15  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| TURNING PT BRANDS INC                     | Turning Point Brands, Inc.                                   | CUSIP: 90041L105<br>LEI: 549300IYG00QF0VVP302 | Long             | EC               | CORP              | US        |    477667 | NS      | $42942263.30  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| MATADOR RES CO                            | Matador Resources Company                                    | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |    684602 | NS      | $27014394.92  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| SPIRE INC                                 | Spire, Inc.                                                  | CUSIP: 84857L101<br>LEI: 549300NXSY15DRY2R511 | Long             | EC               | CORP              | US        |    461159 | NS      | $39844137.60  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ATLANTIC UN BANKSHARES CORP               | Atlantic Union Bankshares Corporation                        | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    878499 | NS      | $28568787.48  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS ROADHOUSE INC                       | Texas Roadhouse, Inc.                                        | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |    133658 | NS      | $21863775.64  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| ONTO INNOVATION INC                       | Onto Innovation, Inc.                                        | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |    284988 | NS      | $38461980.48  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPOSECURE INC                           | CompoSecure, Inc.                                            | CUSIP: 20459V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1173294 | NS      | $23301618.84  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| RLI CORP                                  | RLI Corporation                                              | CUSIP: 749607107<br>LEI: 529900AMTJE5ECN9PS55 | Long             | EC               | CORP              | US        |    661437 | NS      | $38998325.52  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| OLD REP INTL CORP                         | Old Republic International Corporation                       | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |   1231417 | NS      | $48591714.82  | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Agricultural Mortgage Corporation | Federal Agricultural Mortgage Corporation                    | CUSIP: 313148306<br>LEI: 549300MS654K78GYF580 | Long             | EC               | USGSE             | US        |    264785 | NS      | $42005492.40  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| MERIT MED SYS INC                         | Merit Medical Systems, Inc.                                  | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |    367213 | NS      | $32145826.02  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| JFROG LTD                                 | JFrog, Ltd.                                                  | CUSIP: M6191J100<br>LEI: 2549002N8E00AY49G567 | Long             | EC               | CORP              | IL        |   1044370 | NS      | $49586687.60  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM TECHNOLOGIES INC                      | TTM Technologies, Inc.                                       | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |    816871 | NS      | $54893731.20  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| CORVEL CORP                               | CorVel Corporation                                           | CUSIP: 221006109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    206052 | NS      | $15237545.40  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVERSAL TECHNICAL INST INC              | Universal Technical Institute, Inc.                          | CUSIP: 913915104<br>LEI: 2549003YOJGAZ0PVFV48 | Long             | EC               | CORP              | US        |    829053 | NS      | $24639455.16  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| DONNELLEY FINL SOLUTIONS INC              | Donnelley Financial Solutions, Inc.                          | CUSIP: 25787G100<br>LEI: 549300O1NPY4J56QCU04 | Long             | EC               | CORP              | US        |    878553 | NS      | $40369510.35  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP INDS INC                              | UFP Industries, Inc.                                         | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |    356729 | NS      | $32865442.77  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| PEGASYSTEMS INC                           | Pegasystems, Inc.                                            | CUSIP: 705573103<br>LEI: 549300FMCOKPL06FYN26 | Long             | EC               | CORP              | US        |   1115203 | NS      | $70982670.95  | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-26

**Name of Applicant:** Thrivent Mutual Funds

**Signature:** Sarah L. Bergstrom

**Name of Signer:** Sarah L. Bergstrom

**Title:** Treasurer and Principal Accounting Officer