# EDGAR Filing Document

**Accession Number:** 0001082744
**File Stem:** 0001082744-26-000039
**Filing Date:** 2026-3
**Character Count:** 20964
**Document Hash:** ac9c0517e0ef9c943f38c281431a50e2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001082744-26-000039.hdr.sgml**: 20260330

**ACCESSION NUMBER**: 0001082744-26-000039

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260130

**FILED AS OF DATE**: 20260330

**DATE AS OF CHANGE**: 20260330

**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:** 26811186

**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

### Viking Tax-Free Fund for North Dakota (Series ID: S000026083)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000078180 | Viking Tax-Free Fund for North Dakota, Class A | VNDFX           |
| C000171900 | Viking Tax-Free Fund for North Dakota, Class I | VNDIX           |

## 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:** Viking Tax-Free Fund for North Dakota

- **b. EDGAR series identifier (if any):** S000026083

- **c. LEI of Series:** 5493008A1FRCUURB2493

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

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

- **b. Date as of which information is reported:** 2026-01-30

**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:** $19130220.58

**Total Liabilities:** $78417.67

**Net Assets:** $19051802.91

**Cash Not Reported:** $704395.23

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -23.21 | **1-Year:** -85.77 | **5-Year:** -23.03 | **10-Year:** -7526.41 | **30-Year:** -10637.19

**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 C000078180 | -2.07%               | -2.39%               | -1.62%               |
| Class ID C000171900 | 0.39%                | 0.17%                | 0.97%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $36210.60                                  |
| Month 2  | $0.00                    | $-29654.11                                 |
| Month 3  | $0.00                    | $139424.88                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| County of Burleigh ND     4.000%  11/01/2032                                        | County of Burleigh ND     4.000%  11/01/2032                                        | CUSIP: 120906FR8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $246595.00    | 1.29%             | 2032-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Cass ND     4.250%  02/15/2043                                            | County of Cass ND     4.250%  02/15/2043                                            | CUSIP: 148047BC6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1267579.80   | 6.65%             | 2043-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Cass Rural Water Users District     4.150%  05/01/2039                              | Cass Rural Water Users District     4.150%  05/01/2039                              | CUSIP: 148130CP0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $491945.00    | 2.58%             | 2039-05-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Cass Rural Water Users District     4.400%  05/01/2038                              | Cass Rural Water Users District     4.400%  05/01/2038                              | CUSIP: 148130DB0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    150000 | PA      | $153378.00    | 0.81%             | 2038-05-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Cass Rural Water Users District     4.625%  05/01/2040                              | Cass Rural Water Users District     4.625%  05/01/2040                              | CUSIP: 148130DC8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    835000 | PA      | $855457.50    | 4.49%             | 2040-05-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Cass Rural Water Users District     4.170%  05/01/2035                              | Cass Rural Water Users District     4.170%  05/01/2035                              | CUSIP: 148131CM5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    815000 | PA      | $838798.00    | 4.40%             | 2035-05-01      | Fixed         | 4.17%                 | No            |                  2 | On Loan: No      |
| Cass Rural Water Users District     4.375%  05/01/2038                              | Cass Rural Water Users District     4.375%  05/01/2038                              | CUSIP: 148131CN3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    365000 | PA      | $372716.10    | 1.96%             | 2038-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fairmont Public School District No 18     4.250%  08/01/2043                        | Fairmont Public School District No 18     4.250%  08/01/2043                        | CUSIP: 30555DAV9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    260000 | PA      | $262280.20    | 1.38%             | 2043-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| City of Fargo ND     5.000%  05/01/2045                                             | City of Fargo ND     5.000%  05/01/2045                                             | CUSIP: 30747NQQ0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $527945.00    | 2.77%             | 2045-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fargo Park District     5.000%  05/01/2036                                          | Fargo Park District     5.000%  05/01/2036                                          | CUSIP: 307489ZT4<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $828772.50    | 4.35%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Fargo ND     4.000%  12/01/2044                                             | City of Fargo ND     4.000%  12/01/2044                                             | CUSIP: 30748FCE8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    300000 | PA      | $290064.00    | 1.52%             | 2044-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Grand Forks ND     5.000%  12/01/2036                                       | City of Grand Forks ND     5.000%  12/01/2036                                       | CUSIP: 385444EB6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $856155.00    | 4.49%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Grand Forks ND     5.000%  12/01/2037                                       | City of Grand Forks ND     5.000%  12/01/2037                                       | CUSIP: 38546WCR9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    130000 | PA      | $132390.70    | 0.69%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Grand Forks ND     4.750%  12/01/2027                                       | City of Grand Forks ND     4.750%  12/01/2027                                       | CUSIP: 38549PAK8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    350000 | PA      | $350665.00    | 1.84%             | 2027-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| City of Grand Forks ND     5.000%  12/01/2036                                       | City of Grand Forks ND     5.000%  12/01/2036                                       | CUSIP: 38549PBG6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    255000 | PA      | $255844.05    | 1.34%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Horace ND     5.000%  05/01/2039                                            | City of Horace ND     5.000%  05/01/2039                                            | CUSIP: 440365HZ0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    650000 | PA      | $687160.50    | 3.61%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Horace ND     4.850%  08/01/2026                                            | City of Horace ND     4.850%  08/01/2026                                            | CUSIP: 440365JC9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    400000 | PA      | $400256.00    | 2.10%             | 2026-08-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| City of Horace ND     4.750%  05/01/2044                                            | City of Horace ND     4.750%  05/01/2044                                            | CUSIP: 440365JN5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $506535.00    | 2.66%             | 2044-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Killdeer Public School District No 16     5.000%  08/01/2027                        | Killdeer Public School District No 16     5.000%  08/01/2027                        | CUSIP: 494123BT8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $259877.50    | 1.36%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mandan Park District     4.625%  05/01/2040                                         | Mandan Park District     4.625%  05/01/2040                                         | CUSIP: 562576AP3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    280000 | PA      | $284132.80    | 1.49%             | 2040-05-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Mandan Park District     4.750%  05/01/2043                                         | Mandan Park District     4.750%  05/01/2043                                         | CUSIP: 562576AQ1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    165000 | PA      | $165521.40    | 0.87%             | 2043-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| City of Mayville ND     5.000%  05/01/2044                                          | City of Mayville ND     5.000%  05/01/2044                                          | CUSIP: 578660FC1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $500980.00    | 2.63%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Dakota Public Finance Authority     5.000%  06/01/2031                        | North Dakota Public Finance Authority     5.000%  06/01/2031                        | CUSIP: 65887PCB9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    240000 | PA      | $240165.60    | 1.26%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Dakota Public Finance Authority     5.000%  10/01/2043                        | North Dakota Public Finance Authority     5.000%  10/01/2043                        | CUSIP: 65887PZE8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    280000 | PA      | $305606.00    | 1.60%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State Board of Higher Education of the State of North Dakota     4.000%  04/01/2035 | State Board of Higher Education of the State of North Dakota     4.000%  04/01/2035 | CUSIP: 65888UHZ9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    530000 | PA      | $526083.30    | 2.76%             | 2035-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State Board of Higher Education of the State of North Dakota     5.000%  05/01/2049 | State Board of Higher Education of the State of North Dakota     5.000%  05/01/2049 | CUSIP: 65888USM6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $766875.00    | 4.03%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Dakota Housing Finance Agency     4.650%  07/01/2038                          | North Dakota Housing Finance Agency     4.650%  07/01/2038                          | CUSIP: 6589095H5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039810.00   | 5.46%             | 2038-07-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| North Dakota Housing Finance Agency     4.550%  07/01/2044                          | North Dakota Housing Finance Agency     4.550%  07/01/2044                          | CUSIP: 6589096P6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $503680.00    | 2.64%             | 2044-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| North Dakota Housing Finance Agency     4.650%  07/01/2044                          | North Dakota Housing Finance Agency     4.650%  07/01/2044                          | CUSIP: 6589097Z3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005450.00   | 5.28%             | 2044-07-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| UND Alumni Association & Foundation     5.000%  05/01/2049                          | UND Alumni Association & Foundation     5.000%  05/01/2049                          | CUSIP: 91472BAL7<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $513910.00    | 2.70%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Valley City Park District     4.800%  01/01/2035                                    | Valley City Park District     4.800%  01/01/2035                                    | CUSIP: 919466AA0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    145000 | PA      | $152280.45    | 0.80%             | 2035-01-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Valley City Park District     5.400%  01/01/2043                                    | Valley City Park District     5.400%  01/01/2043                                    | CUSIP: 919466AB8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    200000 | PA      | $207866.00    | 1.09%             | 2043-01-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Wahpeton Public School District No 37     4.000%  08/01/2040                        | Wahpeton Public School District No 37     4.000%  08/01/2040                        | CUSIP: 930608KP8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $255260.00    | 1.34%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wahpeton Public School District No 37     4.000%  08/01/2043                        | Wahpeton Public School District No 37     4.000%  08/01/2043                        | CUSIP: 930608KS2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    285000 | PA      | $285413.25    | 1.50%             | 2043-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of West Fargo ND     4.000%  05/01/2047                                        | City of West Fargo ND     4.000%  05/01/2047                                        | CUSIP: 952718W75<br>LEI: N/A | Long             | DBT              | MUN               | US        |    880000 | PA      | $811624.00    | 4.26%             | 2047-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| West Fargo Public School District No 6     5.000%  08/01/2026                       | West Fargo Public School District No 6     5.000%  08/01/2026                       | CUSIP: 952734QA2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    300000 | PA      | $303783.00    | 1.59%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Williston Parks & Recreation District     4.500%  12/01/2045                        | Williston Parks & Recreation District     4.500%  12/01/2045                        | CUSIP: 97071RAL4<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $751567.50    | 3.94%             | 2045-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-30

**Name of Applicant:** Viking Mutual Funds

**Signature:** Shelly Nahrstedt

**Name of Signer:** Shelly Nahrstedt

**Title:** Treasurer