# EDGAR Filing Document

**Accession Number:** 0000311101
**File Stem:** 0001193125-26-019057
**Filing Date:** 2026-1
**Character Count:** 28186
**Document Hash:** f77fd647449ba0bdab6dd40145996cb3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-019057.hdr.sgml**: 20260122

**ACCESSION NUMBER**: 0001193125-26-019057

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260122

**DATE AS OF CHANGE**: 20260122

**PERIOD START**: 20260630

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02918
- **FILM NUMBER:** 26550356

**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:** 2026-06-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $19337988.48

**Total Liabilities:** $157888.06

**Net Assets:** $19180100.42

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 142.547349062901 | **1-Year:** 1047.295278683124 | **5-Year:** 3460.866505637376 | **10-Year:** 7175.718831207787 | **30-Year:** 2747.055685603067

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

- **3-Month:** 0.000000000000 | **1-Year:** 81.085647459756 | **5-Year:** 57.959107163168 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000032726 | 1.68%                | 0.17%                | 0.00%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-14580.28               | $292785.93                                 |
| Month 2  | $-84748.35               | $63385.57                                  |
| Month 3  | $-37989.62               | $-11522.43                                 |

### 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      | $370475.00    | 1.93%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA ST CORRECTIONS INSTN FIN AUTH   | AL ALSFAC 5.25 07/01/2047 | CUSIP: 010507CK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104703.00    | 0.55%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALABASTER ALA PUB BLDG AUTH             | AL ABTFAC 5 05/01/2045    | CUSIP: 01067PBG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $240994.00    | 1.26%             | 2045-05-01      | 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      | $50083.00     | 0.26%             | 2030-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ATHENS ALA                              | AL ATH 4.25 05/01/2049    | CUSIP: 046861K66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $240665.00    | 1.25%             | 2049-05-01      | Fixed         | 4.25%                 | 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      | $295872.50    | 1.54%             | 2033-12-01      | Fixed         | 4.75%                 | 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      | $250120.00    | 1.30%             | 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      | $225000.00    | 1.17%             | 2041-01-01      | Fixed         | 4.00%                 | 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      | $334135.75    | 1.74%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA ST PUB SCH & COLLEGE AUTH       | AL ALSHGR 4 11/01/2040    | CUSIP: 010609FU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252067.50    | 1.31%             | 2040-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA ST PUB SCH & COLLEGE AUTH       | AL ALSHGR 4 09/01/2043    | CUSIP: 010609JC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $244100.00    | 1.27%             | 2043-09-01      | Fixed         | 4.00%                 | 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      | $381124.80    | 1.99%             | 2036-06-01      | Fixed         | 4.00%                 | 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      | $200348.00    | 1.04%             | 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      | $140205.80    | 0.73%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHEROKEE CNTY ALA PUB BLDG AUTH         | AL CPBFAC 4.12 07/01/2044 | CUSIP: 164198AR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $335762.00    | 1.75%             | 2044-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| IRONDALE ALA PUB BLDG AUTH              | AL IROFAC 4 10/01/2049    | CUSIP: 463034AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $383804.75    | 2.00%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TUSCALOOSA CNTY ALA PUB BLDG AUTH       | AL TUSFAC 4 10/01/2044    | CUSIP: 90069AAR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $235175.00    | 1.23%             | 2044-10-01      | 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      | $252577.50    | 1.32%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE ALA                          | AL ENT 4.62 10/01/2040    | CUSIP: 293641XD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $261837.50    | 1.37%             | 2040-10-01      | Fixed         | 4.62%                 | 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      | $194202.50    | 1.01%             | 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      | $251685.00    | 1.31%             | 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      | $218775.00    | 1.14%             | 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      | $204370.00    | 1.07%             | 2042-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PIKE ROAD ALA                           | AL PKR 5 03/01/2043       | CUSIP: 72129PGL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $264632.50    | 1.38%             | 2043-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ELMORE CNTY ALA                         | AL ELM 5 05/01/2047       | CUSIP: 289758BU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257920.00    | 1.34%             | 2047-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RAINSVILLE ALA                          | AL RNV 4 01/01/2044       | CUSIP: 751005DA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $192778.00    | 1.01%             | 2044-01-01      | Fixed         | 4.00%                 | 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        |    400000 | PA      | $413220.00    | 2.15%             | 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      | $257697.50    | 1.34%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM JEFFERSON ALA CIVIC CTR AUTH | AL BIRFAC 5 12/01/2043    | CUSIP: 091158CS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $533785.00    | 2.78%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HELENA ALA                              | AL HEL 4 01/01/2049       | CUSIP: 423089FU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $318535.00    | 1.66%             | 2049-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ATHENS ALA                              | AL ATH 4.12 05/01/2044    | CUSIP: 046861K58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $247292.50    | 1.29%             | 2044-05-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| GUNTERSVILLE ALA WTR WKS & SWR BRD      | AL GUNUTL 4.25 08/01/2049 | CUSIP: 403180FB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $237822.50    | 1.24%             | 2049-08-01      | Fixed         | 4.25%                 | 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      | $399996.00    | 2.09%             | 2035-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY ALA WTRWKS & SAN SWR BRD     | AL MONUTL 5 09/01/2044    | CUSIP: 613105NF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $123851.55    | 0.65%             | 2044-09-01      | Fixed         | 5.00%                 | 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      | $250300.00    | 1.30%             | 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      | $367770.00    | 1.92%             | 2042-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROANOKE ALA UTILS BRD                   | AL ROAUTL 4.38 08/15/2049 | CUSIP: 769811GN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $245830.00    | 1.28%             | 2049-08-15      | Fixed         | 4.38%                 | 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      | $188697.50    | 0.98%             | 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      | $242041.80    | 1.26%             | 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      | $192644.00    | 1.00%             | 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      | $501225.00    | 2.61%             | 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      | $355915.00    | 1.86%             | 2036-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY ALA                      | AL JEF 5 09/15/2035       | CUSIP: 472628RE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $255537.50    | 1.33%             | 2035-09-15      | 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      | $313310.80    | 1.63%             | 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      | $151170.00    | 0.79%             | 2042-12-01      | Fixed         | 4.25%                 | 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      | $30021.90     | 0.16%             | 2036-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALABAMA HSG FIN AUTH                    | AL ALSSFM 4.5 10/01/2044  | CUSIP: 01030RJA1<br>LEI: 549300VFN7EHPOFS7D76 | Long             | DBT              | MUN               | US        |    940000 | PA      | $943318.20    | 4.92%             | 2044-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ALABAMA HSG FIN AUTH                    | AL ALSSFM 4.55 10/01/2044 | CUSIP: 01030RKE1<br>LEI: 549300VFN7EHPOFS7D76 | Long             | DBT              | MUN               | US        |    245000 | PA      | $247094.75    | 1.29%             | 2044-10-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| ALABAMA HSG FIN AUTH                    | AL ALSSFM 4.7 10/01/2049  | CUSIP: 01030RKF8<br>LEI: 549300VFN7EHPOFS7D76 | Long             | DBT              | MUN               | US        |    245000 | PA      | $247533.30    | 1.29%             | 2049-10-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| ALABAMA HSG FIN AUTH                    | AL ALSSFM 4.45 10/01/2044 | CUSIP: 01030RLJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $140336.00    | 0.73%             | 2044-10-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| AUBURN UNIV ALA                         | AL AUBHGR 4 06/01/2041    | CUSIP: 050589NU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $281118.30    | 1.47%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORENCE ALA PUB EDL BLDG AUTH          | AL FLOEDU 5.25 11/01/2049 | CUSIP: 340083AW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $368154.50    | 1.92%             | 2049-11-01      | Fixed         | 5.25%                 | 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      | $305517.00    | 1.59%             | 2032-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY ALA                          | AL UALGEN 5 09/01/2038    | CUSIP: 914025GB1<br>LEI: CKA5FU7V6HJ1ZF36V297 | Long             | DBT              | MUN               | US        |    500000 | PA      | $522285.00    | 2.72%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CULLMAN ALA BRD ED                      | AL CULEDU 4 03/01/2044    | CUSIP: 230041DL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $237567.50    | 1.24%             | 2044-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CULLMAN ALA BRD ED                      | AL CULEDU 4.12 03/01/2049 | CUSIP: 230041DM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $231492.50    | 1.21%             | 2049-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE ALA BRD ED                   | AL ENTSCD 4 03/01/2044    | CUSIP: 29365SAS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $238472.50    | 1.24%             | 2044-03-01      | 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      | $207927.00    | 1.08%             | 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        |    150000 | PA      | $136021.50    | 0.71%             | 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      | $315273.00    | 1.64%             | 2038-03-01      | Fixed         | 3.00%                 | 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        |    795000 | PA      | $768391.35    | 4.01%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAUDERDALE CNTY ALA BRD ED              | AL LAUSCH 5 02/01/2044    | CUSIP: 518499BN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $163419.60    | 0.85%             | 2044-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAUDERDALE CNTY ALA BRD ED              | AL LAUSCH 4.12 02/01/2049 | CUSIP: 518499BP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $231867.50    | 1.21%             | 2049-02-01      | Fixed         | 4.12%                 | 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      | $210840.00    | 1.10%             | 2042-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ST CLAIR CNTY ALA BRD ED                | AL SCCEDU 5 02/01/2040    | CUSIP: 788216EU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $135607.50    | 0.71%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ST CLAIR CNTY ALA BRD ED                | AL SCCEDU 4 02/01/2044    | CUSIP: 788216GK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $475820.00    | 2.48%             | 2044-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-22

**Name of Applicant:** Dupree Mutual Funds

**Signature:** Michelle Dragoo

**Name of Signer:** Michelle Dragoo

**Title:** Treasurer