# EDGAR Filing Document

**Accession Number:** 0000311101
**File Stem:** 0001145549-23-004807
**Filing Date:** 2023-1
**Character Count:** 30702
**Document Hash:** 797fbda819cdc2343491a0937e49124a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-004807.hdr.sgml**: 20230131

**ACCESSION NUMBER**: 0001145549-23-004807

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230131

**DATE AS OF CHANGE**: 20230131

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DUPREE MUTUAL FUNDS
- **CENTRAL INDEX KEY:** 0000311101
- **IRS NUMBER:** 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:** 23570843

**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

### Alabama Tax-Free Income Series (Series ID: S000011998)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000032726 | Alabama Tax-Free Income Series | DUALX           |

## 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:** Alabama Tax-Free Income Series

- **b. EDGAR series identifier (if any):** S000011998

- **c. LEI of Series:** 549300T1CNFIN1UYSS96

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

- **a. Date of fiscal year-end:** 2023-06-30

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $22355507.82

**Total Liabilities:** $183868.43

**Net Assets:** $22171639.39

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 25.599843352064 | **1-Year:** 1337.288758863902 | **5-Year:** 4708.161571231451 | **10-Year:** 4280.555516899722 | **30-Year:** 2309.455307783903

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

- **3-Month:** 11.292860748939 | **1-Year:** 22.585721497911 | **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 C000032726 | -0.69%               | 4.42%                | 0.13%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-130282.49              | $-69400.71                                 |
| Month 2  | $-97719.32               | $1056691.03                                |
| Month 3  | $1511.35                 | $-4148.01                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ALABAMA ST CORRECTIONS INSTN FIN AUTH   | AL ALSFAC 5 07/01/2042    | CUSIP: 010507CJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $375441.50    | 1.69%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANNISTON ALA PUB BLDG AUTH              | AL ANNFAC 5.25 05/01/2030 | CUSIP: 036054AM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50054.00     | 0.23%             | 2030-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ANNISTON ALA PUB BLDG AUTH              | AL ANNFAC 5.5 05/01/2033  | CUSIP: 036054AN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200324.00    | 0.90%             | 2033-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BESSEMER ALA PUB EDL BLDG AUTH          | AL BESFAC 5 07/01/2030    | CUSIP: 086413BK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $140093.80    | 0.63%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHENIX CITY ALA                         | AL PHCFAC 4 10/01/2035    | CUSIP: 717386BR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102134.00    | 0.46%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHENIX CITY ALA                         | AL PHCFAC 4 10/01/2037    | CUSIP: 717386BT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $120700.80    | 0.54%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ST CLAIR CNTY ALA PUB BLDG AUTH         | AL SCCFAC 4 02/01/2041    | CUSIP: 788239BD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $241547.50    | 1.09%             | 2041-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM ALA                          | AL BIR 4 12/01/2035       | CUSIP: 09088RH74<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253647.50    | 1.14%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM ALA                          | AL BIR 5 12/01/2037       | CUSIP: 09088RH90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $266960.00    | 1.20%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ADAMSVILLE ALA                          | AL ADA 3 09/01/2045       | CUSIP: 006482CR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $203852.50    | 0.92%             | 2045-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BOAZ ALA                                | AL BOA 4 02/01/2037       | CUSIP: 096671LW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $246810.00    | 1.11%             | 2037-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUNTERSVILLE ALA                        | AL GUN 3 08/01/2040       | CUSIP: 403136HX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $208262.50    | 0.94%             | 2040-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PELL CITY ALA                           | AL PEL 4.5 02/01/2042     | CUSIP: 705880SF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $201926.00    | 0.91%             | 2042-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ARAB ALA                                | AL ARA 3 12/01/2041       | CUSIP: 038429KY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $204800.00    | 0.92%             | 2041-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM JEFFERSON ALA CIVIC CTR AUTH | AL BIRFAC 5 05/01/2037    | CUSIP: 091158AY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $534940.00    | 2.41%             | 2037-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM JEFFERSON ALA CIVIC CTR AUTH | AL BIRFAC 5 05/01/2038    | CUSIP: 091158AZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $266467.50    | 1.20%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY ALA                          | AL MON 5 06/15/2035       | CUSIP: 613035R97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $540240.00    | 2.44%             | 2035-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATHENS ALA                              | AL ATH 3 05/01/2041       | CUSIP: 046861G87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $102990.00    | 0.46%             | 2041-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ALABASTER ALA BRD OF ED                 | AL ALAEDU 5 09/01/2039    | CUSIP: 010663AR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $621756.00    | 2.80%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUBURN ALA WTR WKS BRD                  | AL AUBWTR 5 09/01/2036    | CUSIP: 050249JP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $264175.00    | 1.19%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM ALA WTRWKS BRD               | AL BIRWTR 5 01/01/2040    | CUSIP: 091096KC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $157221.00    | 0.71%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DECATUR ALA BRD ED                      | AL DECEDU 5 02/01/2040    | CUSIP: 242817BN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $236265.75    | 1.07%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JASPER ALA                              | AL JAS 5 03/01/2031       | CUSIP: 471250MP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $256887.50    | 1.16%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JASPER ALA                              | AL JAS 5 03/01/2032       | CUSIP: 471250MQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $462397.50    | 2.09%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LIMESTONE CNTY ALA WTR & SWR AUTH       | AL LIMUTL 5 12/01/2034    | CUSIP: 532647FP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $254882.50    | 1.15%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LIMESTONE CNTY ALA WTR & SWR AUTH       | AL LIMUTL 4.75 12/01/2033 | CUSIP: 532647JN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $313197.10    | 1.41%             | 2033-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MADISON ALA                             | AL MAD 5 04/01/2035       | CUSIP: 556583US9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $368644.50    | 1.66%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHPORT ALA                           | AL NPT 5 08/01/2040       | CUSIP: 666611LJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $761871.60    | 3.44%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRUSSVILLE ALA                          | AL TRU 5 10/01/2039       | CUSIP: 898242LD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $451955.35    | 2.04%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRUSSVILLE ALA                          | AL TRU 5 10/01/2039       | CUSIP: 898242LE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $787694.50    | 3.55%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TUSCALOOSA ALA                          | AL TUS 5 07/01/2034       | CUSIP: 900577XE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $310320.00    | 1.40%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TUSCALOOSA CNTY ALA BRD ED              | AL TUSEDU 5 02/01/2036    | CUSIP: 900680BD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $273517.50    | 1.23%             | 2036-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TUSCALOOSA CNTY ALA BRD ED              | AL TUSEDU 5 02/01/2037    | CUSIP: 900680BE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $273517.50    | 1.23%             | 2037-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHILTON CNTY ALA                        | AL CHLMED 5 11/01/2035    | CUSIP: 169309AS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $578138.00    | 2.61%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATHENS ALA                              | AL ATHUTL 4 05/01/2039    | CUSIP: 047033KA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $198096.00    | 0.89%             | 2039-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ATHENS ALA                              | AL ATHUTL 4 05/01/2040    | CUSIP: 047033KB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98397.00     | 0.44%             | 2040-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BERRY ALA                               | AL BERWTR 4 09/01/2039    | CUSIP: 085764AR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252540.00    | 1.14%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM ALA WTRWKS BRD               | AL BIRWTR 4 01/01/2041    | CUSIP: 091096KX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $220470.75    | 0.99%             | 2041-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM ALA WTRWKS BRD               | AL BIRWTR 4 01/01/2037    | CUSIP: 091096KY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252025.00    | 1.14%             | 2037-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LIMESTONE CNTY ALA WTR & SWR AUTH       | AL LIMUTL 4.75 12/01/2035 | CUSIP: 532647HJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $410016.00    | 1.85%             | 2035-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| OPELIKA ALA UTILS BRD                   | AL OPEWTR 4 06/01/2039    | CUSIP: 683548DU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $246732.50    | 1.11%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PRATTVILLE ALA                          | AL PRA 4 11/01/2042       | CUSIP: 740019NV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $363971.25    | 1.64%             | 2042-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SCOTTSBORO ALA WTR SWR & GAS BRD        | AL SCOUTL 4 08/01/2040    | CUSIP: 810374CY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $142173.00    | 0.64%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TALLADEGA ALA WTR & SWR                 | AL TALUTL 3 09/01/2046    | CUSIP: 874369BL4<br>LEI: 549300MPY4HDPK8B1G15 | Long             | DBT              | MUN               | US        |    250000 | PA      | $188792.50    | 0.85%             | 2046-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TUSKEGEE ALA UTILS BRD                  | AL TSKUTL 3 08/01/2037    | CUSIP: 901025FY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $229619.00    | 1.04%             | 2037-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WARRIOR RIVER ALA WTR AUTH              | AL WARWTR 4 08/01/2043    | CUSIP: 936268JV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $191852.00    | 0.87%             | 2043-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BULLOCK CNTY ALA PUB BLDG AUTH          | AL BLLFAC 4 10/01/2038    | CUSIP: 120372AL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504315.00    | 2.27%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY ALA PUB BLDG AUTH       | AL MONFAC 5 03/01/2036    | CUSIP: 613209DX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $374724.00    | 1.69%             | 2036-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHEROKEE CNTY ALA BRD ED                | AL CHEEDU 4 12/01/2034    | CUSIP: 16420CCG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $312923.30    | 1.41%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHEROKEE CNTY ALA BRD ED                | AL CHEEDU 4.25 12/01/2042 | CUSIP: 16420CDB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $151738.50    | 0.68%             | 2042-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ELMORE CNTY ALA BRD ED                  | AL ELMEDU 4 08/01/2038    | CUSIP: 289770AS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250425.00    | 1.13%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MADISON CNTY ALA BRD ED                 | AL MADEDU 5 09/01/2031    | CUSIP: 556752PA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $705170.40    | 3.18%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TROY ALA PUB EDL BLDG AUTH              | AL TROEDU 5.25 12/01/2036 | CUSIP: 89732TBR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30016.80     | 0.14%             | 2036-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALABAMA CMNTY COLLEGE SYS BRD TRUSTEES  | AL ACCHGR 5 06/01/2038    | CUSIP: 01025PCK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $346846.50    | 1.56%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUBURN UNIV ALA                         | AL AUBHGR 4 06/01/2036    | CUSIP: 050589NS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $383135.00    | 1.73%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TROY UNIV ALA                           | AL TROHGR 5 11/01/2028    | CUSIP: 897745BR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $260960.00    | 1.18%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TROY UNIV ALA                           | AL TROHGR 4 11/01/2032    | CUSIP: 897745BZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $312579.00    | 1.41%             | 2032-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TROY UNIV ALA                           | AL TROHGR 5 11/01/2037    | CUSIP: 897745CE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $213874.00    | 0.96%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY ALA                          | AL UALGEN 5 09/01/2037    | CUSIP: 914025ET4<br>LEI: CKA5FU7V6HJ1ZF36V297 | Long             | DBT              | MUN               | US        |    250000 | PA      | $269542.50    | 1.22%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY ALA                          | AL UALGEN 5 09/01/2038    | CUSIP: 914025EU1<br>LEI: CKA5FU7V6HJ1ZF36V297 | Long             | DBT              | MUN               | US        |    435000 | PA      | $467507.55    | 2.11%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY ALA                          | AL UALGEN 5 09/01/2038    | CUSIP: 914025GB1<br>LEI: CKA5FU7V6HJ1ZF36V297 | Long             | DBT              | MUN               | US        |    500000 | PA      | $540380.00    | 2.44%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY SOUTH ALA                    | AL USOHGR 5 04/01/2044    | CUSIP: 914845RU8<br>LEI: 549300U394SOV3NGG049 | Long             | DBT              | MUN               | US        |    150000 | PA      | $156027.00    | 0.70%             | 2044-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BIBB CNTY ALA BRD ED                    | AL BIBSCD 4 04/01/2032    | CUSIP: 08867MAY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $390100.40    | 1.76%             | 2032-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORENCE ALA BRD ED                     | AL FLOEDU 4 03/01/2046    | CUSIP: 340001AS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $212307.75    | 0.96%             | 2046-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON CNTY ALA                        | AL HOUEDU 3 12/01/2037    | CUSIP: 44187RBP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $217492.50    | 0.98%             | 2037-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JACKSON CNTY ALA BRD ED                 | AL JAKEDU 3 03/01/2038    | CUSIP: 466629AS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $302862.00    | 1.37%             | 2038-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY ALA BRD ED               | AL JEFEDU 4 02/01/2038    | CUSIP: 472649AT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $162059.70    | 0.73%             | 2038-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY ALA BRD ED               | AL JEFEDU 4 02/01/2042    | CUSIP: 472649AW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $312383.50    | 1.41%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MADISON ALA BRD ED                      | AL MDSSCD 4 02/01/2041    | CUSIP: 55658FAY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $364831.10    | 1.65%             | 2041-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARSHALL CNTY ALA BRD ED                | AL MAREDU 4 03/01/2033    | CUSIP: 572024AS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252660.00    | 1.14%             | 2033-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN BROOK ALA CITY BRD             | AL MTBEDU 3 03/01/2042    | CUSIP: 62387PCK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $210175.00    | 0.95%             | 2042-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| OXFORD ALA CITY BRD ED                  | AL OXFEDU 4 05/01/2045    | CUSIP: 691397CF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $331632.00    | 1.50%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ST CLAIR CNTY ALA BRD ED                | AL SCCEDU 3 02/01/2038    | CUSIP: 788216DQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $216720.00    | 0.98%             | 2038-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-31

**Name of Applicant:** Dupree Mutual Funds

**Signature:** Michelle Dragoo

**Name of Signer:** Michelle Dragoo

**Title:** Treasurer