# EDGAR Filing Document

**Accession Number:** 0001082744
**File Stem:** 0001082744-26-000076
**Filing Date:** 2026-6
**Character Count:** 20779
**Document Hash:** 24c3c30f93baae71b066da6ec6dc3b53
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001082744-26-000076.hdr.sgml**: 20260626

**ACCESSION NUMBER**: 0001082744-26-000076

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260626

**DATE AS OF CHANGE**: 20260626

**PERIOD START**: 20260731

**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:** 261124903

**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

### Maine Municipal Fund (Series ID: S000058943)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000193244 | Class A      | MEMUX           |
| C000193245 | Class I      | MEIMX           |

## Nport-Ex

**Schedule of Investments** – April 30, 2026 *(unaudited)*

Maine Municipal Fund

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; **Principal** | &nbsp;&nbsp; **Fair** |
|  | &nbsp;&nbsp; **Amount** | &nbsp;&nbsp; **Value** |
| &nbsp;&nbsp; **MUNICIPAL BONDS (92.4%)^** |  |  |
| &nbsp;&nbsp; **General Obligation (28.4%)** |  |  |
| &nbsp;&nbsp; CITY OF AUBURN ME 4.000% 09/01/2049 CALLABLE @ 100.000 09/01/2034 | &nbsp;&nbsp; 215000 | $&nbsp;&nbsp; 193326  |
| &nbsp;&nbsp; TOWN OF BAR HARBOR ME 5.000% 09/01/2049 CALLABLE @ 100.000 09/01/2034 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 263090  |
| &nbsp;&nbsp; CITY OF BATH ME 4.000% 05/01/2044 CALLABLE @ 100.000 05/01/2034 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 297702  |
| &nbsp;&nbsp; TOWN OF GORHAM ME 4.000% 09/01/2040 CALLABLE @ 100.000 09/01/2033 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 273321  |
| &nbsp;&nbsp; CITY OF LEWISTON ME 4.000% 03/15/2037 CALLABLE @ 100.000 03/15/2031 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 267667  |
| &nbsp;&nbsp; MAINE SCHOOL ADMINISTRATIVE DISTRICT NO 51 4.000% 10/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100032  |
| &nbsp;&nbsp; MAINE SCHOOL ADMINISTRATIVE DISTRICT NO 28 4.000% 05/01/2036 CALLABLE @ 100.000 05/01/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 304212  |
| &nbsp;&nbsp; TOWN OF YORK ME 4.000% 10/01/2043 CALLABLE @ 100.000 10/01/2034 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 142054  |
|  |  | &nbsp;&nbsp; 1841404  |
| &nbsp;&nbsp; **Health Care (19.8%)** |  |  |
| &nbsp;&nbsp; MAINE HEALTH & HIGHER EDUCATIONAL FACILITIES AUTHORITY 4.500% 07/01/2031 | &nbsp;&nbsp; 5000 | &nbsp;&nbsp; 4969  |
| &nbsp;&nbsp; MAINE HEALTH & HIGHER EDUCATIONAL FACILITIES AUTHORITY 4.000% 07/01/2045 CALLABLE @ 100.000 07/01/2030 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 238885  |
| &nbsp;&nbsp; MAINE HEALTH & HIGHER EDUCATIONAL FACILITIES AUTHORITY 5.250% 07/01/2048 CALLABLE @ 100.000 07/01/2033 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1039550  |
|  |  | &nbsp;&nbsp; 1283404  |
| &nbsp;&nbsp; **Housing (20.1%)** |  |  |
| &nbsp;&nbsp; MAINE STATE HOUSING AUTHORITY 4.950% 11/15/2048 CALLABLE @ 100.000 05/15/2033 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 802712  |
| &nbsp;&nbsp; MAINE STATE HOUSING AUTHORITY 4.450% 11/15/2044 CALLABLE @ 100.000 05/15/2033 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 502270  |
|  |  | &nbsp;&nbsp; 1304982  |
| &nbsp;&nbsp; **Other Revenue (20.2%)** |  |  |
| &nbsp;&nbsp; CITY OF AUGUSTA ME 5.000% 10/01/2043 CALLABLE @ 100.000 10/01/2033 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 747103  |
| &nbsp;&nbsp; MAINE HEALTH & HIGHER EDUCATIONAL FACILITIES AUTHORITY 5.000% 07/01/2043 CALLABLE @ 100.000 07/01/2033 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 289143  |
| &nbsp;&nbsp; MAINE MUNICIPAL BOND BANK 5.000% 11/01/2042 CALLABLE @ 100.000 11/01/2035 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 274678  |
|  |  | &nbsp;&nbsp; 1310924  |
| &nbsp;&nbsp; **Transportation (3.9%)** |  |  |
| &nbsp;&nbsp; CITY OF PORTLAND ME GENERAL AIRPORT REVENUE 4.000% 01/01/2040 CALLABLE @ 100.000 01/01/2030 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 251345  |
|  |  | &nbsp;&nbsp; 251345  |
| &nbsp;&nbsp; **TOTAL MUNICIPAL BONDS (COST: $5,938,375)** |  | $&nbsp;&nbsp; **5992059**  |
| &nbsp;&nbsp; **OTHER ASSETS LESS LIABILITIES (7.6%)** |  | $&nbsp;&nbsp; **489668**  |
| &nbsp;&nbsp; **NET ASSETS (100.0%)** |  | $&nbsp;&nbsp; **6481727**  |
| &nbsp;&nbsp; ^All portfolio securities are issued securities from the state of Maine. | &nbsp;&nbsp; ^All portfolio securities are issued securities from the state of Maine. | &nbsp;&nbsp; ^All portfolio securities are issued securities from the state of Maine. |
| &nbsp;&nbsp; The accompanying notes are an integral part of these financial statements. | &nbsp;&nbsp; The accompanying notes are an integral part of these financial statements. | &nbsp;&nbsp; The accompanying notes are an integral part of these financial statements. |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp; **NOTE: INVESTMENT IN SECURITIES *(unaudited)*** | &nbsp;&nbsp; **NOTE: INVESTMENT IN SECURITIES *(unaudited)*** |
| &nbsp;&nbsp; At April 30, 2026, the net unrealized appreciation/(depreciation) based on the cost of investments for federal income tax purposes was as follows: | &nbsp;&nbsp; At April 30, 2026, the net unrealized appreciation/(depreciation) based on the cost of investments for federal income tax purposes was as follows: |
|  | &nbsp;&nbsp; Maine Municipal Fund |
| &nbsp;&nbsp; Investments at cost | $&nbsp;&nbsp; 5938375 |
| &nbsp;&nbsp; Unrealized appreciation | $&nbsp;&nbsp; 94375 |
| &nbsp;&nbsp; Unrealized depreciation | &nbsp;&nbsp; (40691) |
| &nbsp;&nbsp; Net unrealized appreciation/(depreciation)\* | $&nbsp;&nbsp; 33684 |
| &nbsp;&nbsp; \*Differences between financial reporting-basis and tax-basis unrealized appreciation/(depreciation) are due to differing treatment of wash sales and market discount. | &nbsp;&nbsp; \*Differences between financial reporting-basis and tax-basis unrealized appreciation/(depreciation) are due to differing treatment of wash sales and market discount. |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **NOTE: FAIR VALUE MEASUREMENTS *(unaudited)*** | &nbsp;&nbsp; **NOTE: FAIR VALUE MEASUREMENTS *(unaudited)*** | &nbsp;&nbsp; **NOTE: FAIR VALUE MEASUREMENTS *(unaudited)*** | &nbsp;&nbsp; **NOTE: FAIR VALUE MEASUREMENTS *(unaudited)*** | &nbsp;&nbsp; **NOTE: FAIR VALUE MEASUREMENTS *(unaudited)*** |
| &nbsp;&nbsp; Various inputs are used in determining the value of the Funds' investments. These inputs are summarized in three broad levels: Level 1 inputs are based on quoted prices in active markets for identical securities. Level 2 inputs are based on significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc). Level 3 inputs are based on significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The following is a summary of the inputs used to value the Funds' investments as of April 30, 2026: | &nbsp;&nbsp; Various inputs are used in determining the value of the Funds' investments. These inputs are summarized in three broad levels: Level 1 inputs are based on quoted prices in active markets for identical securities. Level 2 inputs are based on significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc). Level 3 inputs are based on significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The following is a summary of the inputs used to value the Funds' investments as of April 30, 2026: | &nbsp;&nbsp; Various inputs are used in determining the value of the Funds' investments. These inputs are summarized in three broad levels: Level 1 inputs are based on quoted prices in active markets for identical securities. Level 2 inputs are based on significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc). Level 3 inputs are based on significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The following is a summary of the inputs used to value the Funds' investments as of April 30, 2026: | &nbsp;&nbsp; Various inputs are used in determining the value of the Funds' investments. These inputs are summarized in three broad levels: Level 1 inputs are based on quoted prices in active markets for identical securities. Level 2 inputs are based on significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc). Level 3 inputs are based on significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The following is a summary of the inputs used to value the Funds' investments as of April 30, 2026: | &nbsp;&nbsp; Various inputs are used in determining the value of the Funds' investments. These inputs are summarized in three broad levels: Level 1 inputs are based on quoted prices in active markets for identical securities. Level 2 inputs are based on significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc). Level 3 inputs are based on significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The following is a summary of the inputs used to value the Funds' investments as of April 30, 2026: |
| &nbsp;&nbsp; **Maine Municipal Fund** | &nbsp;&nbsp; **Maine Municipal Fund** | &nbsp;&nbsp; **Maine Municipal Fund** | &nbsp;&nbsp; **Maine Municipal Fund** | &nbsp;&nbsp; **Maine Municipal Fund** |
|  | &nbsp;&nbsp; Level 1 | &nbsp;&nbsp; Level 2 | &nbsp;&nbsp; Level 3 | &nbsp;&nbsp; Total |
| &nbsp;&nbsp; Municipal Bonds | $&nbsp;&nbsp; - | $&nbsp;&nbsp; 5992059 | $&nbsp;&nbsp; - | $&nbsp;&nbsp; 5992059 |
| &nbsp;&nbsp; **Total** | $&nbsp;&nbsp; - | $&nbsp;&nbsp; 5992059 | $&nbsp;&nbsp; - | $&nbsp;&nbsp; 5992059 |

---

## 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:** Maine Municipal Fund

- **b. EDGAR series identifier (if any):** S000058943

- **c. LEI of Series:** 549300AYCNZEXHNGCQ68

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2026-04-30

**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:** $6515408.71

**Total Liabilities:** $33681.31

**Net Assets:** $6481727.40

**Cash Not Reported:** $434529.33

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0 | **1-Year:** -10.94 | **5-Year:** -23.06 | **10-Year:** -1756.4 | **30-Year:** -5526.5

**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 C000193244 | -1.32%               | -4.15%               | -1.32%               |
| Class ID C000193245 | 1.21%                | -1.71%               | 1.23%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $60239.34                                  |
| Month 2  | $1188.14                 | $-136126.21                                |
| Month 3  | $-742.54                 | $68004.96                                  |

### 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 Auburn ME     4.000%  09/01/2049                                      | City of Auburn ME     4.000%  09/01/2049                                      | CUSIP: 050375YL2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    215000 | PA      | $193325.85    | 2.98%             | 2049-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Augusta ME     5.000%  10/01/2043                                     | City of Augusta ME     5.000%  10/01/2043                                     | CUSIP: 051411YX8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    700000 | PA      | $747103.00    | 11.53%            | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Bar Harbor ME     5.000%  09/01/2049                                  | Town of Bar Harbor ME     5.000%  09/01/2049                                  | CUSIP: 066878NN5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $263090.00    | 4.06%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Bath ME     4.000%  05/01/2044                                        | City of Bath ME     4.000%  05/01/2044                                        | CUSIP: 071059WK1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    300000 | PA      | $297702.00    | 4.59%             | 2044-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Gorham ME     4.000%  09/01/2040                                      | Town of Gorham ME     4.000%  09/01/2040                                      | CUSIP: 383010PY5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    265000 | PA      | $273321.00    | 4.22%             | 2040-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Lewiston ME     4.000%  03/15/2037                                    | City of Lewiston ME     4.000%  03/15/2037                                    | CUSIP: 52850CUC7<br>LEI: N/A | Long             | DBT              | MUN               | US        |    260000 | PA      | $267667.40    | 4.13%             | 2037-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maine Health & Higher Educational Facilities Authority     4.500%  07/01/2031 | Maine Health & Higher Educational Facilities Authority     4.500%  07/01/2031 | CUSIP: 5604276E1<br>LEI: N/A | Long             | DBT              | MUN               | US        |      5000 | PA      | $4969.30      | 0.08%             | 2031-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Maine Health & Higher Educational Facilities Authority     4.000%  07/01/2045 | Maine Health & Higher Educational Facilities Authority     4.000%  07/01/2045 | CUSIP: 56042RYH9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $238885.00    | 3.69%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maine Health & Higher Educational Facilities Authority     5.000%  07/01/2043 | Maine Health & Higher Educational Facilities Authority     5.000%  07/01/2043 | CUSIP: 56042SBV1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    275000 | PA      | $289143.25    | 4.46%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maine Health & Higher Educational Facilities Authority     5.250%  07/01/2048 | Maine Health & Higher Educational Facilities Authority     5.250%  07/01/2048 | CUSIP: 56042SCY4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039550.00   | 16.04%            | 2048-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Maine Municipal Bond Bank     5.000%  11/01/2042                              | Maine Municipal Bond Bank     5.000%  11/01/2042                              | CUSIP: 56045SBU0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $274677.50    | 4.24%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maine State Housing Authority     4.950%  11/15/2048                          | Maine State Housing Authority     4.950%  11/15/2048                          | CUSIP: 56052FF34<br>LEI: N/A | Long             | DBT              | MUN               | US        |    800000 | PA      | $802712.00    | 12.38%            | 2048-11-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Maine State Housing Authority     4.450%  11/15/2044                          | Maine State Housing Authority     4.450%  11/15/2044                          | CUSIP: 56052FG58<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $502270.00    | 7.75%             | 2044-11-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| City of Portland ME General Airport Revenue     4.000%  01/01/2040            | City of Portland ME General Airport Revenue     4.000%  01/01/2040            | CUSIP: 736564ER2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $251345.00    | 3.88%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maine School Administrative District No 51     4.000%  10/15/2029             | Maine School Administrative District No 51     4.000%  10/15/2029             | CUSIP: 807688JF4<br>LEI: N/A | Long             | DBT              | MUN               | US        |    100000 | PA      | $100032.00    | 1.54%             | 2029-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maine School Administrative District No 28     4.000%  05/01/2036             | Maine School Administrative District No 28     4.000%  05/01/2036             | CUSIP: 80784PAT5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    300000 | PA      | $304212.00    | 4.69%             | 2036-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of York ME     4.000%  10/01/2043                                        | Town of York ME     4.000%  10/01/2043                                        | CUSIP: 987092KJ1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    140000 | PA      | $142053.80    | 2.19%             | 2043-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-26

**Name of Applicant:** Viking Mutual Funds

**Signature:** Shelly Nahrstedt

**Name of Signer:** Shelly Nahrstedt

**Title:** Treasurer