# EDGAR Filing Document

**Accession Number:** 0000311101
**File Stem:** 0001145549-25-046585
**Filing Date:** 2025-7
**Character Count:** 36340
**Document Hash:** b0beb749471088a05ce1a395efcd3e05
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-046585.hdr.sgml**: 20250718

**ACCESSION NUMBER**: 0001145549-25-046585

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250718

**DATE AS OF CHANGE**: 20250718

**PERIOD START**: 20250630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DUPREE MUTUAL FUNDS
- **CENTRAL INDEX KEY:** 0000311101

**ORGANIZATION NAME:**
- **EIN:** 610954630
- **STATE OF INCORPORATION:** KY
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02918
- **FILM NUMBER:** 251132921

**BUSINESS ADDRESS:**
- **STREET 1:** 125 S MILL
- **STREET 2:** P O BOX 1149
- **CITY:** LEXINGTON
- **STATE:** KY
- **ZIP:** 40507
- **BUSINESS PHONE:** 8592547741

**MAIL ADDRESS:**
- **STREET 1:** 125 SOUTH MILL STREET VINCE CENTER
- **STREET 2:** SUITE 100
- **CITY:** LEXINGTON
- **STATE:** KY
- **ZIP:** 40507

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** KENTUCKY TAX FREE INCOME FUND INC
- **DATE OF NAME CHANGE:** 19870716

## Series and Classes Contracts Data

### Tennessee Tax-Free Income Series (Series ID: S000012004)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000032732 | Tennessee Tax-Free Income Series | TNTIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-02918

- **c. CIK number of Registrant:** 0000311101

- **d. LEI of Registrant:** 549300S8YVGTJ1NMTW57

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

  - **Street Address 1:** 125 South Mill Street

  - **City:** Lexington

  - **State:** KY

  - **Foreign country:** US

  - **Zip / Postal Code:** 40507

  - **Telephone number:** 859-254-7741

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

- **a. Name of Series:** Tennessee Tax-Free Income Series

- **b. EDGAR series identifier (if any):** S000012004

- **c. LEI of Series:** 549300OJ7QYEHSBVZ852

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

- **a. Date of fiscal year-end:** 2025-06-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $50393171.42

**Total Liabilities:** $453196.93

**Net Assets:** $49939974.49

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 205.673704142869 | **1-Year:** 2744.915298809624 | **5-Year:** 2852.275023072513 | **10-Year:** 23623.384388775484 | **30-Year:** 9581.077381328546

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000032732 | -0.14%               | -0.52%               | 0.45%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-26278.45               | $-163202.59                                |
| Month 2  | $0.00                    | $-388448.51                                |
| Month 3  | $-497.64                 | $82419.57                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| HAMBLEN CNTY TENN                                                                  | TN HMB 4 05/01/2045       | CUSIP: 406540TW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $376798.80    | 0.75%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NOLENSVILLE TOWN TENN                                                              | TN NOL 4 06/01/2041       | CUSIP: 655309AT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $379176.00    | 0.76%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NOLENSVILLE TOWN TENN                                                              | TN NOL 4 06/01/2042       | CUSIP: 655309AU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $562680.00    | 1.13%             | 2042-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SULLIVAN CNTY TENN                                                                 | TN SUL 4 02/01/2043       | CUSIP: 865287XU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1010000 | PA      | $929402.00    | 1.86%             | 2043-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARYVILLE TENN                                                                     | TN MAR 5 06/01/2026       | CUSIP: 574531UU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $51041.00     | 0.10%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEMPHIS TENN                                                                       | TN MEM 5 10/01/2043       | CUSIP: 5861454L5<br>LEI: 254900N4APYJWTAF5J46 | Long             | DBT              | MUN               | US        |    750000 | PA      | $774727.50    | 1.55%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEVIERVILLE TENN                                                                   | TN SVV 5 05/01/2028       | CUSIP: 818274XW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $132830.00    | 0.27%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BEDFORD CNTY TENN                                                                  | TN BED 4 04/01/2027       | CUSIP: 076077QK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $75551.25     | 0.15%             | 2027-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLLIERVILLE TENN                                                                  | TN CLV 4 01/01/2046       | CUSIP: 194702ZD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $914680.00    | 1.83%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DECATUR CNTY TENN                                                                  | TN DCT 4 05/01/2042       | CUSIP: 243091KX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $368015.70    | 0.74%             | 2042-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JOHNSON CITY TENN                                                                  | TN JOH 4 06/01/2036       | CUSIP: 478251PW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1157440.50   | 2.32%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY TENN                                                               | TN MON 4 04/01/2037       | CUSIP: 61366ABY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1401568.40   | 2.81%             | 2037-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY TENN                                                               | TN MON 4 06/01/2040       | CUSIP: 61366AKZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $479865.00    | 0.96%             | 2040-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WHITE CNTY TENN                                                                    | TN WHI 4 06/01/2027       | CUSIP: 963694HR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $260015.60    | 0.52%             | 2027-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WILSON CNTY TENN                                                                   | TN WIL 4 04/01/2039       | CUSIP: 97217PNS4<br>LEI: 549300N6BIU7YJ1ESV95 | Long             | DBT              | MUN               | US        |    245000 | PA      | $236919.90    | 0.47%             | 2039-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SHELBY CNTY TENN HEALTH EDL & HSG FACS BRD                                         | TN SHEMED 5 08/01/2040    | CUSIP: 821697N54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $650357.50    | 1.30%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN NASHVILLE ARPT AUTH TENN                                              | TN MNVAPT 5 07/01/2035    | CUSIP: 592190LU4<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250062.50    | 0.50%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN NASHVILLE ARPT AUTH TENN                                              | TN MNVAPT 5 07/01/2040    | CUSIP: 592190LV2<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |    700000 | PA      | $700063.00    | 1.40%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON CNTY TENN H & E FACS BRD                             | TN METHGR 5 07/01/2035    | CUSIP: 592041WF0<br>LEI: 549300GW8FVQJ3DU6O10 | Long             | DBT              | MUN               | US        |   1595000 | PA      | $1606308.55   | 3.22%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARKSVILLE TENN PUB BLDG AUTH                                                     | TN CLAFAC 4.5 02/01/2043  | CUSIP: 182564BX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $613538.10    | 1.23%             | 2043-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DICKSON TENN                                                                       | TN DICPWR 5 07/01/2043    | CUSIP: 253507QS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029960.00   | 2.06%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EASTSIDE UTIL DIST HAMILTON CNTY TENN                                              | TN EASWTR 4 05/01/2045    | CUSIP: 277807FP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $456950.00    | 0.91%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FRANKLIN TENN                                                                      | TN FRAUTL 4 02/01/2036    | CUSIP: 354783AU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250145.00    | 0.50%             | 2036-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GALLATIN TENN                                                                      | TN GALPWR 4 07/01/2043    | CUSIP: 363753BL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $719640.90    | 1.44%             | 2043-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GALLATIN TENN                                                                      | TN GLTUTL 4 01/01/2042    | CUSIP: 363754BP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1072937.25   | 2.15%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HALLSDALE-POWELL UTIL DIST KNOX CNTY TENN                                          | TN HLPUTL 4 04/01/2028    | CUSIP: 406313NC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $256532.55    | 0.51%             | 2028-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HALLSDALE-POWELL UTIL DIST KNOX CNTY TENN                                          | TN HLPUTL 4 04/01/2035    | CUSIP: 406313NF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $315705.60    | 0.63%             | 2035-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HALLSDALE-POWELL UTIL DIST KNOX CNTY TENN                                          | TN HLPUTL 4 04/01/2038    | CUSIP: 406313NG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $979390.00    | 1.96%             | 2038-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HALLSDALE-POWELL UTIL DIST KNOX CNTY TENN                                          | TN HLPUTL 4 04/01/2039    | CUSIP: 406313NY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $686882.00    | 1.38%             | 2039-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARPETH VY UTILS DIST TENN                                                         | TN HPVUTL 4 09/01/2039    | CUSIP: 413581QG7<br>LEI: 549300J843AGEC2L3Y44 | Long             | DBT              | MUN               | US        |    500000 | PA      | $482635.00    | 0.97%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARPETH VY UTILS DIST TENN                                                         | TN HPVUTL 4 09/01/2043    | CUSIP: 413581SA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1105000 | PA      | $1004820.70   | 2.01%             | 2043-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JACKSON TENN ENERGY AUTH                                                           | TN JACUTL 5 06/01/2028    | CUSIP: 46873MBF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150129.00    | 0.30%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KNOX CHAPMAN TENN UTIL DIST                                                        | TN KNOWTR 4 01/01/2043    | CUSIP: 499291GD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $495479.55    | 0.99%             | 2043-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KNOX CNTY TENN                                                                     | TN KNO 4 06/01/2043       | CUSIP: 499513HR3<br>LEI: 549300WT27UFXOLT2D56 | Long             | DBT              | MUN               | US        |    500000 | PA      | $465955.00    | 0.93%             | 2043-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KNOXVILLE TENN                                                                     | TN KXVPWR 4 07/01/2041    | CUSIP: 499746P82<br>LEI: 5493002KM0TCCHHCDT47 | Long             | DBT              | MUN               | US        |    750000 | PA      | $710010.00    | 1.42%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KNOXVILLE TENN                                                                     | TN KXVPWR 4 07/01/2044    | CUSIP: 499746Z40<br>LEI: 5493002KM0TCCHHCDT47 | Long             | DBT              | MUN               | US        |    670000 | PA      | $614651.30    | 1.23%             | 2044-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LA FOLLETTE TENN                                                                   | TN LAFPWR 5 06/01/2045    | CUSIP: 506837CM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $236818.90    | 0.47%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEXINGTON TENN                                                                     | TN LEXPWR 4 08/01/2044    | CUSIP: 529658EG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $452680.00    | 0.91%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUDON TENN                                                                        | TN LOUWTR 5 03/01/2039    | CUSIP: 545845DV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $303705.40    | 0.61%             | 2039-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUDON TENN                                                                        | TN LOUWTR 5 03/01/2040    | CUSIP: 545845DW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $369185.80    | 0.74%             | 2040-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUDON TENN                                                                        | TN LOUWTR 5 03/01/2041    | CUSIP: 545845DX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $439186.50    | 0.88%             | 2041-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUDON TENN                                                                        | TN LOUWTR 4 03/01/2044    | CUSIP: 545845EU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $912410.00    | 1.83%             | 2044-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MEMPHIS TENN                                                                       | TN MEM 4 06/01/2041       | CUSIP: 586145T87<br>LEI: 254900N4APYJWTAF5J46 | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1055577.60   | 2.11%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN                                   | TN MET 4 07/01/2033       | CUSIP: 592112SR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $755310.00    | 1.51%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN                                   | TN MET 4 07/01/2034       | CUSIP: 592112SS6<br>LEI: 549300GW8FVQJ3DU6O10 | Long             | DBT              | MUN               | US        |    500000 | PA      | $502580.00    | 1.01%             | 2034-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SEVIERVILLE TENN                                                                   | TN SVV 4 06/01/2044       | CUSIP: 818274ZF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $398072.40    | 0.80%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLUMBIA TENN                                                                      | TN COL 4 12/01/2043       | CUSIP: 198558SE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $929510.00    | 1.86%             | 2043-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLUMBIA TENN                                                                      | TN COL 4 12/01/2050       | CUSIP: 198558SM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $655425.00    | 1.31%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARRIMAN TENN                                                                      | TN HAR 5 06/01/2028       | CUSIP: 413720LN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $106008.00    | 0.21%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYVILLE TENN                                                                     | TN MAR 4 06/01/2029       | CUSIP: 574531VR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $251905.00    | 0.50%             | 2029-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SPRINGFIELD TENN                                                                   | TN SPR 5 06/01/2027       | CUSIP: 851392SR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $255748.15    | 0.51%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMBLEN CNTY TENN                                                                  | TN HMB 4 05/01/2038       | CUSIP: 406540TP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    880000 | PA      | $861775.20    | 1.73%             | 2038-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAMBLEN CNTY TENN                                                                  | TN HMB 4 05/01/2039       | CUSIP: 406540TQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1206075.00   | 2.42%             | 2039-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARSHALL CNTY TENN                                                                 | TN MRLWTR 5 06/01/2040    | CUSIP: 572258AQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $287468.50    | 0.58%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEMPHIS TENN                                                                       | TN MEMUTL 4 12/01/2034    | CUSIP: 58616PAT5<br>LEI: 254900N4APYJWTAF5J46 | Long             | DBT              | MUN               | US        |    775000 | PA      | $777317.25    | 1.56%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MEMPHIS TENN                                                                       | TN MEMUTL 4 12/01/2037    | CUSIP: 58616PBR8<br>LEI: 254900N4APYJWTAF5J46 | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1286053.20   | 2.58%             | 2037-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN                                   | TN METPWR 5 05/15/2031    | CUSIP: 592030K58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103413.00    | 0.21%             | 2031-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN                                   | TN METUTL 4 07/01/2046    | CUSIP: 5920982R7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $903480.00    | 1.81%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN                                   | TN METUTL 5 07/01/2025    | CUSIP: 592098W60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $135008.10    | 0.27%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORTLAND TENN                                                                      | TN PORUTL 4 04/01/2037    | CUSIP: 736806BG4<br>LEI: 549300BJVHTFMLXPSJ79 | Long             | DBT              | MUN               | US        |    900000 | PA      | $863199.00    | 1.73%             | 2037-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORTLAND TENN                                                                      | TN PORUTL 4 04/01/2040    | CUSIP: 736806BW9<br>LEI: 549300BJVHTFMLXPSJ79 | Long             | DBT              | MUN               | US        |    750000 | PA      | $707527.50    | 1.42%             | 2040-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PULASKI TENN                                                                       | TN PULPWR 4 06/01/2042    | CUSIP: 745621FF4<br>LEI: 549300F5JLO4ZT59W364 | Long             | DBT              | MUN               | US        |    500000 | PA      | $463865.00    | 0.93%             | 2042-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WATAUGA RIV REGL WTR AUTH                                                          | TN WTAWTR 4 07/01/2037    | CUSIP: 94109RAM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1242720.40   | 2.49%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEST KNOX UTIL DIST KNOX CNTY TENN                                                 | TN WESUTL 4 06/01/2046    | CUSIP: 953564GW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $898760.00    | 1.80%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEST WILSON UTIL DIST TENN                                                         | TN WWNWTR 5 06/01/2045    | CUSIP: 956876JA5<br>LEI: 549300WPXZ57G71KKH88 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 1.00%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST WILSON UTIL DIST TENN                                                         | TN WWNWTR 5 06/01/2042    | CUSIP: 956876LG9<br>LEI: 549300WPXZ57G71KKH88 | Long             | DBT              | MUN               | US        |    500000 | PA      | $520740.00    | 1.04%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEMPHIS-SHELBY CNTY TENN INDL DEV BRD                                              | TN MEMDEV 5 11/01/2027    | CUSIP: 586108AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $205140.00    | 0.41%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN HEALTH & EDL FACS BRD MULTIFAMILY | TN METHSG 4.6 12/01/2044  | CUSIP: 592113CN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $487440.00    | 0.98%             | 2044-12-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HSG DEV AGY                                                              | TN TNSHSG 4.5 07/01/2043  | CUSIP: 88046KCM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1420968.30   | 2.85%             | 2043-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HSG DEV AGY                                                              | TN TNSHSG 4.15 07/01/2038 | CUSIP: 88046KEP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $95538.00     | 0.19%             | 2038-07-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HSG DEV AGY                                                              | TN TNSHSG 4.45 07/01/2043 | CUSIP: 88046KEQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1780000 | PA      | $1717949.20   | 3.44%             | 2043-07-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| SHELBY CNTY TENN HEALTH EDL & HSG FACS BRD                                         | TN SHEMED 4 08/01/2027    | CUSIP: 821697M89<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100078.00    | 0.20%             | 2027-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SHELBY CNTY TENN HEALTH EDL & HSG FACS BRD                                         | TN SHEMED 4 08/01/2036    | CUSIP: 821697V48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $919153.60    | 1.84%             | 2036-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON CNTY TENN H & E FACS BRD                             | TN METHGR 5 07/01/2040    | CUSIP: 592041WG8<br>LEI: 549300GW8FVQJ3DU6O10 | Long             | DBT              | MUN               | US        |    950000 | PA      | $951102.00    | 1.90%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHELBY CNTY TENN HEALTH EDL & HSG FACS BRD                                         | TN SHEMED 5 05/01/2036    | CUSIP: 821697S83<br>LEI: 5493000UVZ1EF2SIPO10 | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1551531.95   | 3.11%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TENN                                                                   | TN CHAPWR 5 09/01/2035    | CUSIP: 162393FU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250800.00    | 0.50%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARKSVILLE TENN                                                                   | TN CLAPWR 4.25 09/01/2040 | CUSIP: 182494JQ8<br>LEI: 5493000GGEJLABLR8E68 | Long             | DBT              | MUN               | US        |    475000 | PA      | $471827.00    | 0.94%             | 2040-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SHELBY CNTY TENN HEALTH EDL & HSG FACS BRD                                         | TN SHEMED 4 08/01/2037    | CUSIP: 821697V55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $273946.40    | 0.55%             | 2037-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SHELBY CNTY TENN HEALTH EDL & HSG FACS BRD                                         | TN SHEMED 4 08/01/2040    | CUSIP: 821697V63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $813793.75    | 1.63%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-18

**Name of Applicant:** Dupree Mutual Funds

**Signature:** Michelle Dragoo

**Name of Signer:** Michelle Dragoo

**Title:** Treasurer