# EDGAR Filing Document

**Accession Number:** 0001082744
**File Stem:** 0000899635-25-000047
**Filing Date:** 2025-6
**Character Count:** 22257
**Document Hash:** fc47daa06c7f93669d6ae63afdd1fce8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000899635-25-000047.hdr.sgml**: 20250625

**ACCESSION NUMBER**: 0000899635-25-000047

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250625

**DATE AS OF CHANGE**: 20250625

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Viking Mutual Funds
- **CENTRAL INDEX KEY:** 0001082744

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09277
- **FILM NUMBER:** 251071073

**BUSINESS ADDRESS:**
- **STREET 1:** PO BOX 500
- **CITY:** MINOT
- **STATE:** ND
- **ZIP:** 58702-0500
- **BUSINESS PHONE:** 701-852-5292

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 500
- **CITY:** MINOT
- **STATE:** ND
- **ZIP:** 58702-0500

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VIKING MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 19990325

## Series and Classes Contracts Data

### Nebraska Municipal Fund (Series ID: S000058944)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000193246 | Class A      | NEMUX           |
| C000193247 | Class I      | NEITX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-09277

- **c. CIK number of Registrant:** 0001082744

- **d. LEI of Registrant:** 549300PSJICOHN07DD76

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

  - **Street Address 1:** 1 Main Street North

  - **City:** Minot

  - **State:** ND

  - **Foreign country:** US

  - **Zip / Postal Code:** 58703

  - **Telephone number:** 701-857-5292

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

- **a. Name of Series:** Nebraska Municipal Fund

- **b. EDGAR series identifier (if any):** S000058944

- **c. LEI of Series:** 54930037C87FDOGDP535

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $28537048.27

**Total Liabilities:** $120878.78

**Net Assets:** $28416169.49

**Cash Not Reported:** $1728745.12

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0 | **1-Year:** -213.73 | **5-Year:** -274.18 | **10-Year:** -6445.17 | **30-Year:** -23008.32

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

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** 0 | **10-Year:** 0 | **30-Year:** 0

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000193246 | -1.95%               | -4.26%               | -3.07%               |
| Class ID C000193247 | 0.62%                | -1.76%               | -0.59%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $897.31                  | $97157.18                                  |
| Month 2  | $0.00                    | $-602500.96                                |
| Month 3  | $0.00                    | $-243304.16                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| City of Aurora NE     5.000%  12/15/2028                                             | City of Aurora NE     5.000%  12/15/2028                                             | CUSIP: 051879JE5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    800000 | PA      | $806656.00    | 2.84%             | 2028-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Bellevue NE     4.000%  09/15/2049                                           | City of Bellevue NE     4.000%  09/15/2049                                           | CUSIP: 079213AR5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $858550.00    | 3.02%             | 2049-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Butler NE     5.000%  12/01/2043                                           | County of Butler NE     5.000%  12/01/2043                                           | CUSIP: 123529HP7<br>LEI: N/A | Long             | DBT              | MUN               | US        |    600000 | PA      | $606030.00    | 2.13%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Broken Bow Public Schools     4.000%  12/15/2044                                     | Broken Bow Public Schools     4.000%  12/15/2044                                     | CUSIP: 231795AW5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $449055.00    | 1.58%             | 2044-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Custer Public Power District     4.125%  06/01/2039                                  | Custer Public Power District     4.125%  06/01/2039                                  | CUSIP: 231868TB6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $955090.00    | 3.36%             | 2039-06-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| City of David City NE     4.350%  06/15/2026                                         | City of David City NE     4.350%  06/15/2026                                         | CUSIP: 238554EP0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $498975.00    | 1.76%             | 2026-06-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| City of David City NE Electric Utility Revenue     4.400%  12/15/2029                | City of David City NE Electric Utility Revenue     4.400%  12/15/2029                | CUSIP: 238556CF9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    135000 | PA      | $135340.20    | 0.48%             | 2029-12-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| City of David City NE Electric Utility Revenue     4.550%  12/15/2034                | City of David City NE Electric Utility Revenue     4.550%  12/15/2034                | CUSIP: 238556CG7<br>LEI: N/A | Long             | DBT              | MUN               | US        |    530000 | PA      | $532538.70    | 1.87%             | 2034-12-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Fremont School District     5.000%  12/15/2043                                       | Fremont School District     5.000%  12/15/2043                                       | CUSIP: 256435LR7<br>LEI: N/A | Long             | DBT              | MUN               | US        |    675000 | PA      | $702114.75    | 2.47%             | 2043-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fremont School District     5.250%  12/15/2044                                       | Fremont School District     5.250%  12/15/2044                                       | CUSIP: 256435LS5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    210000 | PA      | $223343.40    | 0.79%             | 2044-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fremont School District     5.250%  12/15/2045                                       | Fremont School District     5.250%  12/15/2045                                       | CUSIP: 256435LT3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    300000 | PA      | $318096.00    | 1.12%             | 2045-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fremont School District     5.250%  12/15/2046                                       | Fremont School District     5.250%  12/15/2046                                       | CUSIP: 256435LU0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    395000 | PA      | $417917.90    | 1.47%             | 2046-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fremont School District     5.000%  12/15/2048                                       | Fremont School District     5.000%  12/15/2048                                       | CUSIP: 256435LW6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    740000 | PA      | $762170.40    | 2.68%             | 2048-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Elkhorn School District     4.000%  12/15/2045                                       | Elkhorn School District     4.000%  12/15/2045                                       | CUSIP: 2593092S0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1363845.00   | 4.80%             | 2045-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Westside Community Schools     4.375%  12/01/2043                                    | Westside Community Schools     4.375%  12/01/2043                                    | CUSIP: 259363WZ8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    350000 | PA      | $347522.00    | 1.22%             | 2043-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| County of Hall NE     4.000%  12/15/2044                                             | County of Hall NE     4.000%  12/15/2044                                             | CUSIP: 406027DL3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    800000 | PA      | $717544.00    | 2.53%             | 2044-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Hartington NE     4.500%  12/15/2040                                         | City of Hartington NE     4.500%  12/15/2040                                         | CUSIP: 416812HM0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    200000 | PA      | $184358.00    | 0.65%             | 2040-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| City of Henderson NE     4.600%  12/15/2034                                          | City of Henderson NE     4.600%  12/15/2034                                          | CUSIP: 425191FL2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    210000 | PA      | $204063.30    | 0.72%             | 2034-12-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| City of Henderson NE     4.850%  12/15/2036                                          | City of Henderson NE     4.850%  12/15/2036                                          | CUSIP: 425191FM0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    460000 | PA      | $445427.20    | 1.57%             | 2036-12-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| City of Henderson NE     5.100%  12/15/2038                                          | City of Henderson NE     5.100%  12/15/2038                                          | CUSIP: 425191FN8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $481605.00    | 1.69%             | 2038-12-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Nebraska State Colleges     5.000%  07/01/2048                                       | Nebraska State Colleges     5.000%  07/01/2048                                       | CUSIP: 583456KF4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022360.00   | 3.60%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nance County School District No 30     4.000%  12/15/2044                            | Nance County School District No 30     4.000%  12/15/2044                            | CUSIP: 63000RBS6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $448465.00    | 1.58%             | 2044-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Nance County School District No 30     4.125%  12/15/2049                            | Nance County School District No 30     4.125%  12/15/2049                            | CUSIP: 63000RBT4<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $444985.00    | 1.57%             | 2049-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| City of Nebraska City NE     4.150%  07/15/2033                                      | City of Nebraska City NE     4.150%  07/15/2033                                      | CUSIP: 639591MY9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    100000 | PA      | $97500.00     | 0.34%             | 2033-07-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| City of Nebraska City NE     5.000%  07/15/2038                                      | City of Nebraska City NE     5.000%  07/15/2038                                      | CUSIP: 639591MZ6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    540000 | PA      | $544595.40    | 1.92%             | 2038-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Nebraska City NE     4.000%  01/15/2036                                      | City of Nebraska City NE     4.000%  01/15/2036                                      | CUSIP: 639591NE2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    265000 | PA      | $247737.90    | 0.87%             | 2036-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Nebraska City NE     4.350%  01/15/2039                                      | City of Nebraska City NE     4.350%  01/15/2039                                      | CUSIP: 639591NF9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    205000 | PA      | $193948.45    | 0.68%             | 2039-01-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Nebraska Public Power District     5.000%  01/01/2036                                | Nebraska Public Power District     5.000%  01/01/2036                                | CUSIP: 63968AK46<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2008620.00   | 7.07%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nebraska Investment Finance Authority     4.500%  09/01/2044                         | Nebraska Investment Finance Authority     4.500%  09/01/2044                         | CUSIP: 63968M7E3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $981340.00    | 3.45%             | 2044-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Nebraska Investment Finance Authority     4.700%  09/01/2049                         | Nebraska Investment Finance Authority     4.700%  09/01/2049                         | CUSIP: 63968M7G8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1917760.00   | 6.75%             | 2049-09-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Nebraska Investment Finance Authority     4.550%  09/01/2044                         | Nebraska Investment Finance Authority     4.550%  09/01/2044                         | CUSIP: 63968M7S2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $245977.50    | 0.87%             | 2044-09-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| City of Omaha NE Riverfront Redevelopment Special Tax Revenue     4.000%  04/15/2049 | City of Omaha NE Riverfront Redevelopment Special Tax Revenue     4.000%  04/15/2049 | CUSIP: 68189PLM4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $901540.00    | 3.17%             | 2049-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Otoe County School District No 501/NE     4.500%  12/15/2043                         | Otoe County School District No 501/NE     4.500%  12/15/2043                         | CUSIP: 68905WGG1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006140.00   | 3.54%             | 2043-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Otoe County School District No 501/NE     4.750%  12/15/2047                         | Otoe County School District No 501/NE     4.750%  12/15/2047                         | CUSIP: 68905WGH9<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004620.00   | 3.54%             | 2047-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Otoe County School District No 501/NE     4.125%  12/15/2047                         | Otoe County School District No 501/NE     4.125%  12/15/2047                         | CUSIP: 68905WGY2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $456365.00    | 1.61%             | 2047-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Southeast Community College Area     5.000%  12/15/2043                              | Southeast Community College Area     5.000%  12/15/2043                              | CUSIP: 84134TBJ7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1183057.50   | 4.16%             | 2043-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Community College Area     5.000%  12/15/2048                              | Southeast Community College Area     5.000%  12/15/2048                              | CUSIP: 84134TBK4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013160.00   | 3.57%             | 2048-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Wahoo NE     4.750%  12/15/2033                                              | City of Wahoo NE     4.750%  12/15/2033                                              | CUSIP: 930574JB5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    320000 | PA      | $321017.60    | 1.13%             | 2033-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| City of Wayne NE     4.250%  12/15/2026                                              | City of Wayne NE     4.250%  12/15/2026                                              | CUSIP: 946153HF3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $747832.50    | 2.63%             | 2026-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| York County School District No 96     4.000%  12/15/2044                             | York County School District No 96     4.000%  12/15/2044                             | CUSIP: 98636PCG3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    625000 | PA      | $580862.50    | 2.04%             | 2044-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-25

**Name of Applicant:** Viking Mutual Funds

**Signature:** Shelly Nahrstedt

**Name of Signer:** Shelly Nahrstedt

**Title:** Treasurer