# EDGAR Filing Document

**Accession Number:** 0000311101
**File Stem:** 0001145549-23-004805
**Filing Date:** 2023-1
**Character Count:** 22432
**Document Hash:** cab4c25910446d5f969ca3bebf2c524f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-004805.hdr.sgml**: 20230131

**ACCESSION NUMBER**: 0001145549-23-004805

**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:** 23570836

**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

### North Carolina Tax-Free Short-to-Medium Series (Series ID: S000012003)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000032731 | North Carolina Tax-Free Short-to-Medium Series | NTSMX           |

## 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:** North Carolina Tax-Free Short-to-Medium Series

- **b. EDGAR series identifier (if any):** S000012003

- **c. LEI of Series:** 549300M4DFH3QZXKWF41

**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:** $11632930.40

**Total Liabilities:** $31437.85

**Net Assets:** $11601492.55

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 35.200173914110 | **1-Year:** 1203.449002278912 | **5-Year:** 2014.529856123914 | **10-Year:** 156.944933746069 | **30-Year:** 0.000000000000

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

- **3-Month:** 0.000000000000 | **1-Year:** 4.821107387165 | **5-Year:** 72.581506818070 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000032731 | -0.15%               | 2.11%                | 0.34%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-39513.66                                 |
| Month 2  | $-102046.49              | $357282.09                                 |
| Month 3  | $-34342.47               | $61261.18                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| DAVIDSON CNTY N C                   | NC DAV 5 06/01/2028    | CUSIP: 238603BF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $339362.10    | 2.93%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WINSTON-SALEM N C                   | NC WIN 5 06/01/2023    | CUSIP: 975680DS5<br>LEI: 549300AUJB2WE4FMLE24 | Long             | DBT              | MUN               | US        |    125000 | PA      | $126123.75    | 1.09%             | 2023-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLUMBUS CNTY N C                   | NC COL 5 06/01/2023    | CUSIP: 199049AH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $357967.80    | 3.09%             | 2023-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONROE N C                          | NC MONGEN 5 03/01/2028 | CUSIP: 611199BG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $101471.40    | 0.87%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONROE N C                          | NC MONGEN 5 03/01/2029 | CUSIP: 611199BH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $208345.80    | 1.80%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WARREN CNTY N C                     | NC WAR 5 06/01/2027    | CUSIP: 935079AM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $167984.00    | 1.45%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUNCOMBE CNTY N C                   | NC BUNOBL 5 06/01/2028 | CUSIP: 120525FG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $527590.00    | 4.55%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONROE N C                          | NC MONGEN 5 04/01/2026 | CUSIP: 611199CA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $284188.65    | 2.45%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST                   | NC NCSGEN 5 05/01/2028 | CUSIP: 65829QCX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $136953.75    | 1.18%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCKINGHAM CNTY N C                 | NC ROC 4 04/01/2024    | CUSIP: 773426AN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $106549.80    | 0.92%             | 2024-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAMPSON CNTY N C                    | NC SAM 5 12/01/2023    | CUSIP: 79588VAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $167951.85    | 1.45%             | 2023-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAMPSON CNTY N C                    | NC SAM 5 09/01/2025    | CUSIP: 79588VBD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $131723.75    | 1.14%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAMPSON CNTY N C                    | NC SAM 5 09/01/2026    | CUSIP: 79588VBE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $225313.20    | 1.94%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WARREN CNTY N C                     | NC WAR 5 06/01/2023    | CUSIP: 935079AH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100836.00    | 0.87%             | 2023-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ONSLOW CNTY N C                     | NC ONS 5 06/01/2023    | CUSIP: 68285TBN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252152.50    | 2.17%             | 2023-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RANDOLPH CNTY N C                   | NC RAN 5 10/01/2025    | CUSIP: 752598BR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $265145.00    | 2.29%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RUTHERFORD CNTY N C                 | NC RUTGEN 5 03/01/2028 | CUSIP: 783237AX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $83001.00     | 0.72%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RUTHERFORD CNTY N C                 | NC RUTGEN 5 03/01/2029 | CUSIP: 783237AY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $195931.75    | 1.69%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCOTLAND CNTY N C                   | NC SCO 5 12/01/2027    | CUSIP: 809323AK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $152847.80    | 1.32%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCOTLAND CNTY N C                   | NC SCO 5 12/01/2026    | CUSIP: 809323BC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $268545.00    | 2.31%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST                   | NC NCSGEN 5 03/01/2029 | CUSIP: 658268EP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $225974.00    | 1.95%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST                   | NC NCSGEN 5 05/01/2029 | CUSIP: 65829QEY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $255928.50    | 2.21%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITT CNTY N C                       | NC PIT 5 04/01/2027    | CUSIP: 724505DU3<br>LEI: 549300NRI6XE7BEE9A08 | Long             | DBT              | MUN               | US        |    495000 | PA      | $536089.95    | 4.62%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTERN CAROLINA UNIV N C           | NC WESHGR 5 06/01/2027 | CUSIP: 957897JK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $265795.00    | 2.29%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE N C                       | NC CHACTF 4 06/01/2025 | CUSIP: 161037F76<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100565.00    | 0.87%             | 2025-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE N C                       | NC CHACTF 5 06/01/2023 | CUSIP: 161037M60<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25224.75     | 0.22%             | 2023-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE N C                       | NC CHACTF 5 12/01/2025 | CUSIP: 161037S80<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |    100000 | PA      | $106616.00    | 0.92%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SMITHVILLE TWP N C                  | NC SMI 5 06/01/2024    | CUSIP: 832652CD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $254932.50    | 2.20%             | 2024-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRUNSWICK CNTY N C                  | NC BRU 5 08/01/2028    | CUSIP: 117061XF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $282252.50    | 2.43%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HANOVER CNTY N C                | NC NHVMED 5 10/01/2028 | CUSIP: 644804EZ5<br>LEI: 549300TDDH9O6TH23823 | Long             | DBT              | MUN               | US        |    150000 | PA      | $165355.50    | 1.43%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN       | NC NCSMED 5 06/01/2028 | CUSIP: 65821DSE2<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    180000 | PA      | $189500.40    | 1.63%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE N C                       | NC CHAAPT 5 07/01/2030 | CUSIP: 161036RH3<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |     75000 | PA      | $86535.00     | 0.75%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE-MECKLENBERG HOSP AUTH N C | NC CHAMED 5 01/15/2028 | CUSIP: 160853SL2<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |    225000 | PA      | $238927.50    | 2.06%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN       | NC NCSMED 4 06/01/2024 | CUSIP: 65821DSA0<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    180000 | PA      | $182604.60    | 1.57%             | 2024-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WESTERN CAROLINA UNIV N C           | NC WESHGR 5 06/01/2027 | CUSIP: 957897JK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $113723.00    | 0.98%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRUNSWICK CNTY N C                  | NC BRUGEN 5 04/01/2027 | CUSIP: 117068EW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $262867.50    | 2.27%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CARY N C                            | NC CRYGEN 4 12/01/2028 | CUSIP: 147056EB7<br>LEI: 5493005EXXSJNCUZX878 | Long             | DBT              | MUN               | US        |    250000 | PA      | $260132.50    | 2.24%             | 2028-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MUN PWR AGY NO 1     | NC NCMPWR 5 01/01/2025 | CUSIP: 6582035E0<br>LEI: 549300N3Q65G1ODRFX75 | Long             | DBT              | MUN               | US        |    100000 | PA      | $104196.00    | 0.90%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MUN PWR AGY NO 1     | NC NCMPWR 5 01/01/2028 | CUSIP: 658203X33<br>LEI: 549300N3Q65G1ODRFX75 | Long             | DBT              | MUN               | US        |    125000 | PA      | $132978.75    | 1.15%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MUN PWR AGY NO 1     | NC NCMPWR 5 01/01/2025 | CUSIP: 658203X82<br>LEI: 549300N3Q65G1ODRFX75 | Long             | DBT              | MUN               | US        |    140000 | PA      | $145930.40    | 1.26%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCOTLAND CNTY N C                   | NC SCO 5 12/01/2025    | CUSIP: 809323AH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $285522.30    | 2.46%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST                   | NC NCSGEN 5 03/01/2029 | CUSIP: 658268DG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $125799.60    | 1.08%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST                   | NC NCSGEN 5 03/01/2029 | CUSIP: 658268EA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $22585.20     | 0.19%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA TPK AUTH             | NC NCSTRN 5 01/01/2029 | CUSIP: 65830RBH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $304904.40    | 2.63%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY N C                      | NC UNCHGR 5 04/01/2028 | CUSIP: 914716D36<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $262587.50    | 2.26%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY N C                      | NC UNCHGR 5 10/01/2025 | CUSIP: 914716J55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $116394.30    | 1.00%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY N C GREENSBORO           | NC UNCHGR 5 04/01/2026 | CUSIP: 914719WM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $428708.00    | 3.70%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY N C                      | NC UNCHGR 5 10/01/2026 | CUSIP: 914722SA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $324234.00    | 2.79%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY N C                      | NC UNCHGR 4 06/01/2029 | CUSIP: 91472TBC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $771967.50    | 6.65%             | 2029-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY N C                      | NC UNCHGR 4 06/01/2030 | CUSIP: 91472TBD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $204748.00    | 1.76%             | 2030-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WESTERN CAROLINA UNIV N C           | NC WESHGR 5 10/01/2025 | CUSIP: 957897KB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $237528.00    | 2.05%             | 2025-10-01      | Fixed         | 5.00%                 | 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