Thrivent Core Funds NPORTP Thrivent Core Mid Cap Value Fund (Jul 2024 report)

Emerging

Markets

Debt

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Principal

Amount

Long-Term

Fixed

Income

(

96.5%

)

Value

Angola

(2.6%)

Angola

Government

International

Bond

13,000,000

8.250%,

5/9/2028

12,316,720

6,000,000

8.750%,

4/14/2032

5,362,800

2,000,000

9.125%,

11/26/2049

1,648,080

Total

19,327,600

Argentina

(2.1%)

Argentina

Government

International

Bond

1,728,000

0.750%,

7/9/2030

931,392

21,200,000

4.125%,

7/9/2035

8,848,693

15,700,000

3.500%,

7/9/2041

6,205,574

Total

15,985,659

Azerbaijan

(0.7%)

Azerbaijan

Government

International

Bond

5,900,000

3.500%,

9/1/2032

5,115,359

Total

5,115,359

Bahrain

(2.2%)

Bahrain

Government

International

Bond

1,000,000

4.250%,

1/25/2028

945,200

1,000,000

5.250%,

1/25/2033

903,200

3,000,000

5.625%,

5/18/2034

2,738,727

1,000,000

7.750%,

4/18/2035

1,052,506

6,000,000

7.500%,

9/20/2047

5,809,956

1,000,000

7.500%,

9/20/2047

966,418

CBB

International

Sukuk

Programme

SPC

4,000,000

6.250%,

11/14/2024

3,999,248

Total

16,415,255

Brazil

(2.6%)

Brazil

Government

International

Bond

5,800,000

4.750%,

1/14/2050

4,219,430

3,000,000

2.875%,

6/6/2025

2,928,262

5,000,000

3.875%,

6/12/2030

4,513,436

3,000,000

6.000%,

10/20/2033

2,948,987

4,300,000

5.000%,

1/27/2045

3,372,977

2,000,000

5.625%,

2/21/2047

1,682,307

Total

19,665,399

Canada

(0.9%)

Canacol

Energy,

Ltd.

2,000,000

5.750%,

11/24/2028

989,346

Petronas

Energy

Canada,

Ltd.

6,000,000

2.112%,

3/23/2028

5,486,824

Total

6,476,170

Cayman

Islands

(0.3%)

Oryx

Funding,

Ltd.

2,200,000

5.800%,

2/3/2031

2,190,010

Total

2,190,010

Chile

(3.1%)

Chile

Government

International

Bond

1,700,000

3.100%,

1/22/2061

1,072,873

8,500,000

3.500%,

1/25/2050

6,219,027

Principal

Amount

Long-Term

Fixed

Income

(96.5%)

Value

Chile

(3.1%)

continued

1,200,000

3.125%,

1/21/2026

1,160,814

2,600,000

3.240%,

2/6/2028

2,460,295

8,850,000

2.550%,

7/27/2033

7,285,763

2,000,000

3.500%,

1/31/2034

1,764,728

1,000,000

4.340%,

3/7/2042

873,423

Corporacion

Nacional

del

Cobre

Chile

2,000,000

6.440%,

1/26/2036

2,090,842

Total

22,927,765

Colombia

(2.7%)

Colombia

Government

International

Bond

3,375,000

3.875%,

4/25/2027

3,202,589

1,000,000

7.500%,

2/2/2034

1,013,851

1,500,000

7.375%,

9/18/2037

1,477,517

8,500,000

6.125%,

1/18/2041

7,226,472

3,000,000

4.125%,

2/22/2042

1,998,373

1,605,000

5.625%,

2/26/2044

1,246,925

3,000,000

5.000%,

6/15/2045

2,137,731

Ecopetrol

1,000,000

8.875%,

1/13/2033

1,044,948

1,000,000

8.375%,

1/19/2036

994,994

Total

20,343,400

Costa

Rica

(1.1%)

Costa

Rica

Government

International

Bond

1,000,000

7.300%,

11/13/2054

1,066,281

6,900,000

7.000%,

4/4/2044

7,155,980

Total

8,222,261

Dominican

Republic

(4.4%)

Dominican

Republic

Government

International

Bond

1,300,000

6.875%,

1/29/2026

1,313,000

1,000,000

5.950%,

1/25/2027

1,001,808

3,000,000

5.500%,

2/22/2029

2,943,128

4,500,000

4.875%,

9/23/2032

4,118,349

130,000,000

11.250%,

9/15/2035

a,d

2,295,781

100,000,000

10.750%,

6/1/2036

a,d

1,724,979

2,500,000

7.450%,

4/30/2044

2,682,326

3,900,000

6.850%,

1/27/2045

3,935,158

7,300,000

6.500%,

2/15/2048

7,072,686

6,000,000

6.400%,

6/5/2049

a,c

5,739,027

Total

32,826,242

Ecuador

(1.3%)

Ecuador

Government

International

Bond

2,500,000

6.900%,

7/31/2030

1,688,174

14,800,000

5.500%,

7/31/2035

7,815,061

Total

9,503,235

Egypt

(2.6%)

Egypt

Government

International

Bond

1,500,000

7.500%,

2/16/2061

1,021,104

2,000,000

8.750%,

9/30/2051

1,535,000

500,000

8.150%,

11/20/2059

360,000

3,300,000

7.600%,

3/1/2029

3,069,000

3,500,000

7.053%,

1/15/2032

2,870,000

3,000,000

8.500%,

1/31/2047

2,258,850

9,000,000

7.903%,

2/21/2048

6,475,050

Emerging

Markets

Debt

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Principal

Amount

Long-Term

Fixed

Income

(96.5%)

Value

Egypt

(2.6%)

continued

Egypt

Government

Treasury

Bills

110,000,000

Zero

Coupon,

12/10/2024

2,070,611

Total

19,659,615

Salvador

(0.7%)

Salvador

Government

International

Bond

2,300,000

8.625%,

2/28/2029

2,099,714

4,500,000

7.625%,

2/1/2041

3,150,442

Total

5,250,156

Gabon

(0.5%)

Gabon

Government

International

Bond

2,662,000

6.950%,

6/16/2025

2,398,781

2,000,000

6.625%,

2/6/2031

1,467,010

Total

3,865,791

Ghana

(1.0%)

Ghana

Government

International

Bond

2,000,000

6.375%,

2/11/2027

1,000,000

3,000,000

7.750%,

4/7/2029

a,f

1,515,750

2,556,000

8.625%,

4/7/2034

a,f

1,307,381

3,000,000

7.875%,

2/11/2035

a,f

1,530,000

4,000,000

8.875%,

5/7/2042

2,032,880

Total

7,386,011

Guatemala

(1.8%)

Guatemala

Government

International

Bond

1,000,000

6.125%,

6/1/2050

915,542

4,590,000

4.500%,

5/3/2026

4,458,344

2,200,000

4.375%,

6/5/2027

2,109,227

3,000,000

5.375%,

4/24/2032

2,897,859

2,000,000

6.550%,

2/6/2037

a,g

2,006,540

1,000,000

4.650%,

10/7/2041

793,107

Total

13,180,619

Honduras

(0.1%)

Honduras

Government

International

Bond

1,000,000

6.250%,

1/19/2027

959,500

Total

959,500

Hungary

(1.4%)

Hungary

Government

International

Bond

3,000,000

5.250%,

6/16/2029

2,987,832

2,000,000

2.125%,

9/22/2031

1,612,500

3,000,000

6.250%,

9/22/2032

3,138,750

Magyar

Export-Import

Bank

Zrt

2,500,000

6.125%,

12/4/2027

2,517,975

Total

10,257,057

Indonesia

(4.5%)

Indonesia

Government

International

Bond

2,000,000

4.125%,

1/15/2025

1,990,000

6,100,000

4.750%,

1/8/2026

6,070,110

3,700,000

4.100%,

4/24/2028

3,604,429

3,400,000

6.625%,

2/17/2037

3,827,431

1,000,000

7.750%,

1/17/2038

1,237,524

Principal

Amount

Long-Term

Fixed

Income

(96.5%)

Value

Indonesia

(4.5%)

continued

726,000

6.750%,

1/15/2044

852,005

4,000,000

5.125%,

1/15/2045

3,935,300

1,200,000

5.250%,

1/8/2047

1,190,808

1,500,000

4.350%,

1/11/2048

1,308,000

Pertamina

Persero

1,500,000

6.450%,

5/30/2044

1,594,125

Perusahaan

Listrik

Negara

1,000,000

4.375%,

2/5/2050

776,993

2,000,000

3.375%,

2/5/2030

1,812,888

2,400,000

5.250%,

10/24/2042

2,194,144

Perusahaan

Penerbit

SBSN

Indonesia

III

1,500,000

4.150%,

3/29/2027

1,471,815

1,500,000

4.400%,

6/6/2027

1,477,466

Total

33,343,038

Ivory

Coast

(2.3%)

Ivory

Coast

Government

International

Bond

16,000,000

6.125%,

6/15/2033

14,200,000

3,000,000

8.250%,

1/30/2037

2,901,150

Total

17,101,150

Jersey

(1.4%)

Galaxy

Pipeline

Assets

Bidco,

Ltd.

4,052,000

2.160%,

3/31/2034

3,502,312

6,500,000

2.625%,

3/31/2036

5,386,155

1,831,560

2.940%,

9/30/2040

1,488,239

Total

10,376,706

Jordan

(0.9%)

Jordan

Government

International

Bond

2,500,000

7.500%,

1/13/2029

2,480,070

4,500,000

5.850%,

7/7/2030

4,117,500

Total

6,597,570

Kazakhstan

(0.8%)

Kazakhstan

Government

International

Bond

4,000,000

6.500%,

7/21/2045

4,585,000

KazMunayGas

National

Company

JSC

1,700,000

5.750%,

4/19/2047

1,485,783

Total

6,070,783

Kenya

(0.4%)

Kenya

Government

International

Bond

2,000,000

7.250%,

2/28/2028

1,810,229

1,500,000

8.000%,

5/22/2032

1,296,096

Total

3,106,325

Lebanon

(0.2%)

Lebanon

Government

International

Bond

10,000,000

6.650%,

4/22/2024

675,000

3,000,000

6.600%,

11/27/2026

208,500

5,000,000

6.850%,

3/23/2027

350,000

Total

1,233,500

Emerging

Markets

Debt

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Principal

Amount

Long-Term

Fixed

Income

(96.5%)

Value

Luxembourg

(1.0%)

EIG

Pearl

Holdings

SARL

3,500,000

3.545%,

8/31/2036

3,011,260

Greensaif

Pipelines

Bidco

SARL

2,000,000

5.853%,

2/23/2036

2,009,000

2,000,000

6.129%,

2/23/2038

2,054,158

Total

7,074,418

Malaysia

(1.2%)

Petronas

Capital,

Ltd.

3,500,000

4.550%,

4/21/2050

3,095,659

6,400,000

3.500%,

4/21/2030

5,996,083

Total

9,091,742

Mexico

(5.8%)

America

Movil

SAB

1,000,000

5.375%,

4/4/2032

946,805

Comision

Federal

Electricidad

1,000,000

3.875%,

7/26/2033

824,680

Mexico

Government

International

Bond

7,240,000

6.338%,

5/4/2053

6,937,591

781,000

4.150%,

3/28/2027

764,929

885,000

3.750%,

1/11/2028

847,764

2,000,000

5.400%,

2/9/2028

2,014,330

1,000,000

3.500%,

2/12/2034

829,574

2,000,000

6.000%,

5/7/2036

1,990,377

4,800,000

6.050%,

1/11/2040

4,722,041

1,000,000

4.600%,

2/10/2048

778,386

Petroleos

Mexicanos

14,300,000

7.690%,

1/23/2050

10,502,563

6,200,000

5.950%,

1/28/2031

5,115,439

1,915,000

6.700%,

2/16/2032

1,632,726

6,600,000

6.625%,

6/15/2035

5,123,464

Total

43,030,669

Mongolia

(0.2%)

Mongolia

Government

International

Bond

1,700,000

5.125%,

4/7/2026

1,658,192

Total

1,658,192

Montenegro

(0.1%)

Montenegro

Government

International

Bond

1,000,000

7.250%,

3/12/2031

1,017,300

Total

1,017,300

Morocco

(0.6%)

Morocco

Government

International

Bond

3,000,000

4.000%,

12/15/2050

2,090,640

OCP

1,500,000

5.125%,

6/23/2051

1,154,463

1,000,000

6.750%,

5/2/2034

1,042,191

Total

4,287,294

Mozambique

(0.4%)

Mozambique

Government

International

Bond

3,861,000

9.000%,

9/15/2031

3,289,953

Total

3,289,953

Principal

Amount

Long-Term

Fixed

Income

(96.5%)

Value

Namibia

(0.3%)

Namibia

Government

International

Bond

2,000,000

5.250%,

10/29/2025

1,970,000

Total

1,970,000

Netherlands

(0.4%)

AES

Andres

1,000,000

5.700%,

5/4/2028

960,000

Majapahit

Holding

2,000,000

7.875%,

6/29/2037

2,349,380

Total

3,309,380

Nigeria

(1.6%)

Nigeria

Government

International

Bond

8,100,000

7.875%,

2/16/2032

7,036,551

1,000,000

7.375%,

9/28/2033

a,c

817,500

5,000,000

7.696%,

2/23/2038

3,890,000

Total

11,744,051

Oman

(2.9%)

Oman

Government

International

Bond

3,000,000

4.875%,

2/1/2025

2,986,997

5,000,000

4.750%,

6/15/2026

4,937,215

4,000,000

5.625%,

1/17/2028

4,031,620

1,000,000

7.375%,

10/28/2032

1,119,085

8,500,000

6.750%,

1/17/2048

8,832,775

Total

21,907,692

Pakistan

(1.1%)

Pakistan

Government

International

Bond

2,000,000

6.000%,

4/8/2026

1,807,980

4,500,000

6.875%,

12/5/2027

3,854,471

3,000,000

7.375%,

4/8/2031

2,381,025

Total

8,043,476

Panama

(2.2%)

Aeropuerto

Internacional

Tocumen

2,000,000

4.000%,

8/11/2041

1,535,834

Panama

Bonos

del

Tesoro

4,000,000

3.362%,

6/30/2031

3,230,000

Panama

Government

International

Bond

4,800,000

4.500%,

4/16/2050

3,311,233

1,000,000

3.750%,

3/16/2025

987,493

5,079,000

6.700%,

1/26/2036

5,063,160

2,000,000

8.000%,

3/1/2038

2,153,271

Total

16,280,991

Paraguay

(1.7%)

Paraguay

Government

International

Bond

4,800,000

5.400%,

3/30/2050

4,292,572

3,500,000

4.700%,

3/27/2027

3,441,900

2,000,000

5.850%,

8/21/2033

2,027,400

1,000,000

6.100%,

8/11/2044

984,465

2,000,000

5.600%,

3/13/2048

1,828,355

Total

12,574,692

Emerging

Markets

Debt

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Principal

Amount

Long-Term

Fixed

Income

(96.5%)

Value

Peru

(2.8%)

Fondo

Mivivienda

1,000,000

4.625%,

4/12/2027

980,359

Peru

Government

International

Bond

11,000,000

2.783%,

1/23/2031

9,523,505

1,100,000

8.750%,

11/21/2033

1,350,421

2,000,000

3.000%,

1/15/2034

1,651,251

6,000,000

3.300%,

3/11/2041

4,538,590

Petroleos

del

Peru

4,500,000

5.625%,

6/19/2047

2,874,882

Total

20,919,008

Philippines

(1.7%)

Philippines

Government

International

Bond

3,000,000

3.750%,

1/14/2029

2,877,174

5,025,000

7.750%,

1/14/2031

5,796,689

1,625,000

6.375%,

10/23/2034

1,801,741

2,420,000

3.950%,

1/20/2040

2,088,412

Total

12,564,016

Poland

(0.6%)

Bank

Gospodarstwa

Krajowego

1,500,000

5.375%,

5/22/2033

1,510,365

Poland

Government

International

Bond

3,000,000

4.875%,

10/4/2033

2,973,360

Total

4,483,725

Qatar

(2.6%)

Qatar

Government

International

Bond

4,800,000

4.400%,

4/16/2050

4,260,960

3,000,000

3.250%,

6/2/2026

2,919,870

1,000,000

3.750%,

4/16/2030

961,900

1,000,000

5.750%,

1/20/2042

1,076,700

8,000,000

4.817%,

3/14/2049

7,586,736

QatarEnergy

3,000,000

3.125%,

7/12/2041

2,270,700

Total

19,076,866

Romania

(2.8%)

Romania

Government

International

Bond

4,100,000

4.000%,

2/14/2051

2,883,120

2,000,000

3.000%,

2/27/2027

1,877,000

6,000,000

5.250%,

11/25/2027

5,949,294

1,000,000

6.625%,

2/17/2028

1,032,920

4,000,000

3.000%,

2/14/2031

3,397,600

2,000,000

3.625%,

3/27/2032

1,727,580

2,000,000

7.125%,

1/17/2033

2,142,000

1,500,000

6.375%,

1/30/2034

1,529,850

Total

20,539,364

Saudi

Arabia

(3.9%)

Saudi

Arabia

Government

International

Bond

10,600,000

3.750%,

1/21/2055

7,586,458

6,300,000

3.250%,

10/26/2026

6,094,796

4,000,000

3.625%,

3/4/2028

3,846,964

2,300,000

4.375%,

4/16/2029

2,259,235

5,000,000

2.250%,

2/2/2033

4,041,205

1,500,000

4.500%,

10/26/2046

1,269,960

Principal

Amount

Long-Term

Fixed

Income

(96.5%)

Value

Saudi

Arabia

(3.9%)

continued

Saudi

Arabian

Oil

Company

4,500,000

2.250%,

11/24/2030

3,834,558

Total

28,933,176

Senegal

(0.2%)

Senegal

Government

International

Bond

700,000

6.250%,

5/23/2033

594,226

1,000,000

6.750%,

3/13/2048

727,025

Total

1,321,251

Serbia

(1.0%)

Serbia

Government

International

Bond

2,000,000

6.250%,

5/26/2028

2,043,440

3,500,000

6.500%,

9/26/2033

3,616,508

2,000,000

6.000%,

6/12/2034

1,992,400

Total

7,652,348

South

Africa

(2.4%)

Eskom

Holdings

SOC,

Ltd.

1,000,000

7.125%,

2/11/2025

999,300

6,000,000

6.350%,

8/10/2028

5,917,500

2,000,000

8.450%,

8/10/2028

2,052,412

South

Africa

Government

International

Bond

3,500,000

6.250%,

3/8/2041

3,068,118

2,000,000

5.375%,

7/24/2044

1,546,450

5,100,000

5.650%,

9/27/2047

3,939,750

Total

17,523,530

Sri

Lanka

(1.0%)

Sri

Lanka

Government

International

Bond

6,000,000

6.825%,

7/18/2026

3,358,252

4,000,000

6.200%,

5/11/2027

2,217,617

1,000,000

6.750%,

4/18/2028

564,998

2,000,000

7.550%,

3/28/2030

1,113,223

Total

7,254,090

Trinidad

and

Tobago

(0.4%)

Telecommunications

Services

Trinidad

and

Tobago,

Ltd.

2,800,000

8.875%,

10/18/2029

2,793,308

Total

2,793,308

Turkey

(3.4%)

Turkiye

Government

International

Bond

4,000,000

6.375%,

10/14/2025

4,007,200

5,600,000

6.125%,

10/24/2028

5,537,000

3,800,000

6.500%,

9/20/2033

3,641,023

2,639,000

6.875%,

3/17/2036

2,541,666

4,435,000

6.750%,

5/30/2040

4,104,681

2,000,000

6.000%,

1/14/2041

1,695,000

1,000,000

4.875%,

4/16/2043

716,285

1,800,000

5.750%,

5/11/2047

1,397,250

Turkiye

Ihracat

Kredi

Bankasi

1,500,000

9.375%,

1/31/2026

1,558,125

Total

25,198,230

Emerging

Markets

Debt

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Principal

Amount

Long-Term

Fixed

Income

(96.5%)

Value

Ukraine

(0.7%)

State

Agency

Roads

Ukraine

3,000,000

6.250%,

6/24/2030

a,f

960,720

Ukraine

Government

International

Bond

3,000,000

7.750%,

9/1/2028

957,750

1,900,000

9.750%,

11/1/2030

636,500

2,000,000

6.876%,

5/21/2031

610,000

7,500,000

7.375%,

9/25/2034

2,289,750

Total

5,454,720

United

Arab

Emirates

(2.9%)

Abu

Dhabi

Government

International

Bond

2,500,000

3.875%,

4/16/2050

2,003,865

3,000,000

3.000%,

9/15/2051

a,c

2,036,151

3,000,000

3.125%,

5/3/2026

2,918,700

8,500,000

2.500%,

9/30/2029

7,738,306

Finance

Department

Government

Sharjah

6,000,000

4.000%,

7/28/2050

3,961,524

United

Arab

Emirates

Government

International

Bond

3,000,000

4.050%,

7/7/2032

2,886,012

Total

21,544,558

United

Kingdom

(0.2%)

NAK

Naftogaz

Ukraine

via

Kondor

Finance

plc

2,000,000

7.625%,

11/8/2028

1,613,612

Total

1,613,612

Uruguay

(2.1%)

Uruguay

Government

International

Bond

3,000,000

4.975%,

4/20/2055

2,787,683

2,000,000

5.100%,

6/18/2050

1,919,294

10,840,312

4.375%,

1/23/2031

10,653,352

Total

15,360,329

Uzbekistan

(0.8%)

Uzbekistan

Government

International

Bond

1,000,000

7.850%,

10/12/2028

1,030,905

1,000,000

3.700%,

11/25/2030

830,000

3,000,000

3.900%,

10/19/2031

2,462,025

Uzbekneftegaz

JSC

2,000,000

4.750%,

11/16/2028

1,697,600

Total

6,020,530

Venezuela

(0.5%)

Petroleos

Venezuela

6,000,000

12.750%,

2/17/2022

810,000

7,500,000

6.000%,

11/15/2026

843,750

Venezuela

Government

International

Bond

3,800,000

12.750%,

8/23/2022

664,763

5,000,000

9.000%,

5/7/2023

760,961

2,500,000

11.750%,

10/21/2026

449,459

Total

3,528,933

Principal

Amount

Long-Term

Fixed

Income

(96.5%)

Value

Vietnam

(0.7%)

Vietnam

Government

International

Bond

5,400,000

4.800%,

11/19/2024

5,385,528

Total

5,385,528

Virgin

Islands,

British

(3.4%)

Sinopec

Group

Overseas

Development

2017,

Ltd.

5,000,000

3.625%,

4/12/2027

4,880,675

Sinopec

Group

Overseas

Development

2018,

Ltd.

6,200,000

2.300%,

1/8/2031

5,476,497

State

Grid

Overseas

Investment

2016,

Ltd.

12,500,000

2.875%,

5/18/2026

12,117,406

3,000,000

3.500%,

5/4/2027

2,925,270

Total

25,399,848

Zambia

(0.3%)

Zambia

Government

International

Bond

1,391,783

0.500%,

12/31/2053

701,111

1,482,503

5.750%,

6/30/2033

1,297,190

Total

1,998,301

Total

Long-Term

Fixed

Income

(cost

$806,957,060)

717,231,297

Collateral

Held

for

Securities

Loaned

(

1.1%

)

8,135,070

Thrivent

Cash

Management

Trust

8,135,070

Total

Collateral

Held

for

Securities

Loaned

(cost

$8,135,070)

8,135,070

Short-Term

Investments

(

2.2%

)

Thrivent

Core

Short-Term

Reserve

Fund

1,636,920

5.600%

16,369,200

Total

Short-Term

Investments

(cost

$16,369,200)

16,369,200

Total

Investments

(cost

$831,461,330)

99.8%

$741,735,567

Other

Assets

and

Liabilities,

Net

0.2%

1,187,688

Total

Net

Assets

100.0%

$742,923,255

Denotes

securities

sold

under

Rule

144A

the

Securities

Act

1933,

which

exempts

them

from

registration.

These

securities

may

resold

other

dealers

the

program

other

qualified

institutional

buyers.

July

31,

2024,

the

value

these

investments

was

$251,792,823

33.9%

total

net

assets.

Denotes

step

coupon

securities.

Step

coupon

securities

pay

initial

coupon

rate

for

the

first

period

and

then

different

coupon

rates

for

following

periods.

The

rate

shown

July

31,

2024.

All

portion

the

security

loan.

Principal

amount

displayed

Dominican

Republic

Pesos.

Principal

amount

displayed

Egyptian

Pounds.

Defaulted

security. Interest

not

being

accrued.

Denotes

investments

purchased

when-issued

delayed-delivery

basis.

Emerging

Markets

Debt

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

The

following

table

presents

the

total

amount

securities

loaned

with

continuous

maturity,

type,

offset

the

gross

payable

upon

return

collateral

for

securities

loaned

Thrivent

Core

Emerging

Markets

Debt

Fund

July

31,

2024:

Securities

Lending

Transactions

Long-Term

Fixed

Income

7,734,048

Total

lending

$7,734,048

Gross

amount

payable

upon

return

collateral

for

securities

loaned

$8,135,070

Net

amounts

due

counterparty

$401,022

Definitions:

plc

Public

Limited

Company

Fair

Valuation

Measurements

The

following

table

summary

the

inputs

used,

July

31,

2024,

valuing

Emerging

Markets

Debt

Fund's

assets

carried

fair

value.

Investments

Securities

Total

Level

Long-Term

Fixed

Income

Communications

Services

3,740,113

–

3,740,113

–

Energy

69,801,887

–

69,801,887

–

Financials

1,510,365

–

1,510,365

–

Foreign

Government

625,929,861

–

625,929,861

–

Transportation

1,535,834

–

1,535,834

–

Utilities

14,713,237

–

14,713,237

–

Subtotal

Investments

Securities

$717,231,297

$–

$717,231,297

$–

Other

Investments *

Total

Affiliated

Short-Term

Investments

16,369,200

Collateral

Held

for

Securities

Loaned

8,135,070

Subtotal

Other

Investments

$24,504,270

Total

Investments

Value

$741,735,567

Certain

investments

are

measured

fair

value

using

net

asset

value

per

that

not

publicly

available

(practical

expedient). According

disclosure

requirements

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

the

fair

value

hierarchy. The

fair

value

amounts

presented

the

table

above

are

intended

permit

reconciliation

the

fair

value

hierarchy

the

amounts

presented

the

Statement

Assets

and

Liabilities.

Emerging

Markets

Debt

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Investment

Affiliates

Affiliated

issuers,

defined

under

the

Investment

Company

Act

1940,

include

those

which

the

Fund's

holdings

issuer

represent

the

outstanding

voting

securities

issuer,

any

affiliated

mutual

fund,

company

which

under

common

ownership

control

with

the

Fund.

The

Fund

owns

Thrivent

Cash

Management

Trust

for

the

purpose

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

series

Thrivent

Core

Funds,

primarily

serve

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

Thrivent

entities.

summary

transactions

(in

thousands;

values

shown

zero

are

less

than

$500)

for

the

fiscal

year

date,

Emerging

Markets

Debt

Fund,

follows:

Fund

Value

10/31/2023

Gross

Purchases

Gross

Sales

Value

7/31/2024

Held

7/31/2024

Net

Assets

7/31/2024

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.600%

$11,288

$112,797

$107,716

$16,369

1,637

2.2%

Total

Affiliated

Short-Term

Investments

11,288

16,369

2.2

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

23,593

84,605

100,063

8,135

1.1

Total

Collateral

Held

for

Securities

Loaned

23,593

8,135

1.1

Total

Value

$34,881

$24,504

Portfolio

Net

Realized

Gain/(Loss)

Change

Unrealized

Appreciation/

(Depreciation)

Distributions

Realized

Capital

Gains

Income

Earned

11/1/2023

7/31/2024

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.600%

$–

–

$603

Total

Income/Non

Cash

Income

from

Affiliated

Investments

$603

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

Total

Affiliated

Income

from

Securities

Loaned,

Net

$90

Total

Value

$–

–

Emerging

Markets

Equity

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Common

Stock

(

97.4%

)

Value

Belgium

(<0.1%)

3,303

Titan

Cement

International

117,570

Total

117,570

Brazil

(4.8%)

46,200

Brasil

Bolsa

Balcao

88,379

40,902

Banco

Bradesco

ADR

90,802

475,600

Banco

Brasil

2,229,947

60,400

BRF

225,640

241,790

Centrais

Eletricas

Brasileiras

ADR

1,694,948

62,545

Companhia

Energetica

Minas

Gerais

ADR

118,836

6,622

Companhia

Paranaense

Energia

COPEL

ADR

41,917

163,400

CPFL

Energia

937,734

140,500

Cury

Construtora

Incorporadora

553,192

127,899

Gerdau

ADR

414,393

25,100

Intelbras

Industria

Telecomunicacao

Eletronica

Brasileira

94,078

403,100

Iochpe-Maxion

896,546

558,320

Itau

Unibanco

Holding

ADR

3,361,086

42,995

Itausa

76,927

94,719

Jalles

Machado

116,888

185,600

JBS

1,106,483

150,800

Klabin

586,014

606,100

Petroleo

Brasileiro

3,992,696

117,938

Petroleo

Brasileiro

ADR

1,682,975

274,700

Telefonica

Brasil

2,353,052

593,900

TIM

SA/Brazil

1,823,863

368,384

Vale

ADR

3,996,966

Total

26,483,362

Cayman

Islands

(12.9%)

190,000

AAC

Technologies

Holdings,

Inc.

695,494

907,704

Alibaba

Group

Holding,

Ltd.

8,932,011

1,260,000

China

Feihe,

Ltd.

570,643

192,000

China

Medical

System

Holdings,

Ltd.

159,230

1,483,000

China

Mengniu

Dairy

Company,

Ltd.

2,481,494

1,049,500

China

Resources

Land,

Ltd.

3,137,052

666,000

Consun

Pharmaceutical

Group,

Ltd.

476,890

1,590,000

Geely

Automobile

Holdings,

Ltd.

1,615,531

206,500

Greentown

China

Holdings,

Ltd.

156,273

50,048

JD.com,

Inc.

659,913

83,820

JOYY,

Inc.

ADR

2,790,368

129,500

Kingboard

Holdings,

Ltd.

264,129

115,000

Longfor

Group

Holdings,

Ltd.

149,397

259,620

Meituan

a,c

3,594,873

91,500

NetDragon

Websoft

Holdings,

Ltd.

128,416

5,961

NetEase,

Inc.

ADR

549,068

53,982

PDD

Holdings,

Inc.

ADR

6,957,740

518,000

Seazen

Group,

Ltd.

92,732

4,912,000

Shui

Land,

Ltd.

414,947

1,592,000

Sino

Biopharmaceutical,

Ltd.

570,890

344,100

Sunny

Optical

Technology

(Group)

Company,

Ltd.

1,929,750

532,200

Tencent

Holdings,

Ltd.

24,559,143

13,733

Tencent

Music

Entertainment

Group

ADR

194,734

75,017

Trip.com

Group,

Ltd.

ADR

3,190,473

2,509,600

Xiaomi

Corporation

a,c

5,390,198

Common

Stock

(97.4%)

Value

Cayman

Islands

(12.9%)

continued

680,000

Zhongsheng

Group

Holdings,

Ltd.

1,060,974

Total

70,722,363

Chile

(0.7%)

5,101

Banco

Chile

ADR

122,016

17,598

Banco

Credito

Inversiones

514,595

245,661

Cencosud

454,090

3,617,644

Colbun

470,510

75,670

Embotelladora

Andina

241,822

103,864

Empresas

CMPC

180,408

92,350,601

Latam

Airlines

Group

1,143,260

251,806

S.A.C.I.

Falabella

834,118

Total

3,960,819

China

(10.0%)

9,732,700

Agricultural

Bank

China,

Ltd.

6,178,358

2,758,000

Aluminum

Corporation

China,

Ltd.,

Class

1,543,886

1,673,600

Bank

China,

Ltd.,

Class

1,079,208

5,988,100

Bank

Communications

Company,

Ltd.,

Class

6,097,349

202,000

Bank

Communications

Company,

Ltd.,

Class

146,771

248,313

Baoshan

Iron

Steel

Company,

Ltd.

233,586

9,051,100

BOE

Technology

Group

Company,

Ltd.

4,941,969

4,146,000

CGN

Power

Company,

Ltd.

1,693,099

421,300

China

Construction

Bank

Corporation,

Class

433,894

454,000

China

Construction

Bank

Corporation,

Class

317,022

8,768,000

China

Tower

Corporation,

Ltd.

1,075,821

744,100

China

United

Network

Communications,

Ltd.

484,197

234,000

CMOC

Group,

Ltd.

186,629

2,125,000

COSCO

SHIPPING

Holdings

Company,

Ltd.,

Class

3,034,740

3,920,000

CRRC

Corporation,

Ltd.

2,428,999

346,800

Foxconn

Industrial

Internet

Company,

Ltd.

1,165,064

101,600

Fuyao

Glass

Industry

Group

Company,

Ltd.,

Class

530,572

1,807,500

Great

Wall

Motor

Company,

Ltd.,

Class

2,467,923

763,100

Gree

Electric

Appliances,

Inc.

Zhuhai

4,226,262

226,400

Guotai

Junan

Securities

Company,

Ltd.

450,371

402,600

Haier

Smart

Home

Company,

Ltd.,

Class

1,316,267

364,500

HLA

Group

Corporation,

Ltd.

330,963

1,835,200

Huaxia

Bank

Company,

Ltd.

1,594,482

735,100

Inner

Mongolia

Yili

Industrial

Group

Company,

Ltd.

2,553,618

1,054,000

Jiangxi

Copper

Company,

Ltd.,

Class

1,852,868

336,000

Lenovo

Group,

Ltd.

435,191

351,600

Livzon

Pharmaceutical

Group,

Inc.

1,788,334

2,743,000

People's

Insurance

Company

(Group)

China,

Ltd.

922,917

685,100

Poly

Developments

and

Holdings

Group

Company,

Ltd.

835,833

38,000

Shengyi

Technology

Company,

Ltd.

102,817

Emerging

Markets

Equity

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Common

Stock

(97.4%)

Value

China

(10.0%)

continued

883,200

Shenwan

Hongyuan

Group

Company,

Ltd.

559,991

73,600

Shenzhou

International

Group

Holdings,

Ltd.

623,060

562,000

Tong

Ren

Tang

Technologies

Company,

Ltd.

360,057

540,000

WuXi

AppTec

Company,

Ltd.,

Class

2,208,983

321,600

ZTE

Corporation

720,409

Total

54,921,510

Colombia

(0.3%)

8,687

Bancolombia

80,501

47,194

Bancolombia

ADR

1,572,504

Total

1,653,005

Cyprus

(<0.1%)

71,245

Ros

Agro

plc

GDR

a,e

Total

Czech

Republic

(<0.1%)

285

Philip

Morris

186,375

Total

186,375

Egypt

(0.1%)

142,517

Commercial

International

Bank

Egypt

SAE

GDR

234,868

Total

234,868

Greece

(0.2%)

23,386

Hellenic

Telecommunications

Organization

384,227

74,927

HELLENiQ

ENERGY

Holdings

600,131

18,546

OPAP

323,351

Total

1,307,709

Hong

Kong

(1.1%)

110,500

BYD

Electronic

International

Company,

Ltd.

430,052

1,370,500

China

Overseas

Land

Investment,

Ltd.

2,215,600

2,343,440

CSPC

Pharmaceutical

Group,

Ltd.

1,743,158

1,123,000

Weichai

Power

Company,

Ltd.,

Class

1,797,303

96,000

Yuexiu

Property

Company,

Ltd.

61,356

Total

6,247,469

Hungary

(0.7%)

214,332

MOL

Hungarian

Oil

Gas

plc

1,670,612

39,536

OTP

Bank

Nyrt

2,026,677

8,650

Richter

Gedeon

Nyrt

246,598

Total

3,943,887

India

(22.0%)

4,506

ABB

India,

Ltd.

425,843

7,542

Apar

Industries,

Ltd.

832,329

21,180

Avenue

Supermarts,

Ltd.

a,c

1,249,664

349,319

Axis

Bank,

Ltd.

4,879,743

59,850

Bajaj

Auto,

Ltd.

6,914,786

356,717

Bank

Baroda

1,082,855

131,059

Bharat

Petroleum

Corporation,

Ltd.

549,724

1,960

Bosch,

Ltd.

819,732

14,006

Brigade

Enterprises,

Ltd.

211,060

Common

Stock

(97.4%)

Value

India

(22.0%)

continued

108,771

Chambal

Fertilisers

and

Chemicals,

Ltd.

674,922

8,602

Chennai

Petroleum

Corporation,

Ltd.

102,712

286,402

Cipla,

Ltd.

5,292,132

706,633

Coal

India,

Ltd.

4,419,914

6,116

CRISIL,

Ltd.

320,517

28,125

Cummins

India,

Ltd.

1,296,772

18,608

Dixon

Technologies

India,

Ltd.

2,698,921

87,857

HCL

Technologies,

Ltd.

1,728,756

125,723

HDFC

Asset

Management

Company,

Ltd.

6,186,832

105,844

Hero

MotoCorp,

Ltd.

6,953,707

479,141

Hindalco

Industries,

Ltd.

3,843,440

29,424

Hindustan

Aeronautics,

Ltd.

1,734,021

321,687

ICICI

Bank,

Ltd.

ADR

9,364,309

18,936

Info

Edge

India,

Ltd.

1,592,395

103,113

Infosys,

Ltd.

ADR

2,281,891

195,489

Jindal

Saw,

Ltd.

1,517,519

73,358

Tyre

Industries,

Ltd.

391,056

5,890

KEI

Industries,

Ltd.

305,556

56,501

Kotak

Mahindra

Bank,

Ltd.

1,224,035

73,070

KPIT

Technologies,

Ltd.

1,612,827

26,241

Mahindra

Mahindra,

Ltd.

913,462

15,727

Maruti

Suzuki

India,

Ltd.

2,467,622

72,043

NCC,

Ltd./India

309,432

11,397

Netweb

Technologies

India,

Ltd.

315,986

54,521

Nippon

Life

India

Asset

Management,

Ltd.

420,933

1,602,850

Oil

Natural

Gas

Corporation,

Ltd.

6,403,352

22,166

Fintech,

Ltd.

385,615

38,650

Persistent

Systems,

Ltd.

2,236,396

3,537

Phoenix

Mills,

Ltd.

152,215

30,515

Pidilite

Industries,

Ltd.

1,162,010

181,765

Power

Finance

Corporation,

Ltd.

1,213,306

270,983

REC,

Ltd.

2,093,260

99,843

Reliance

Industries,

Ltd.

3,599,583

734,671

State

Bank

India

7,680,787

173,577

Tata

Consultancy

Services,

Ltd.

9,114,650

201,070

Tata

Motors,

Ltd.

2,784,726

14,429

Tata

Motors,

Ltd.,

Class

137,133

17,773

Tech

Mahindra,

Ltd.

331,062

59,960

Trent,

Ltd.

4,190,514

20,381

UltraTech

Cement,

Ltd.

2,897,826

49,755

United

Spirits,

Ltd.

841,625

53,927

Welspun

Living,

Ltd.

118,518

Total

120,277,983

Indonesia

(1.5%)

13,045,100

Bank

Central

Asia

Tbk

8,243,444

Total

8,243,444

Kuwait

(0.4%)

93,035

HumanSoft

Holding

Company

KSCC

802,577

209,221

Kuwait

Finance

House

KSCP

504,564

253,044

Mobile

Telecommunications

Company

KSCP

377,734

204,497

National

Bank

Kuwait

KSC

606,349

136,360

National

Industries

Group

Holding

100,452

Total

2,391,676

Malaysia

(0.9%)

320,900

Hong

Leong

Bank

Bhd

1,347,360

31,400

Petronas

Dagangan

Bhd

121,240

Emerging

Markets

Equity

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Common

Stock

(97.4%)

Value

Malaysia

(0.9%)

continued

323,400

Resources

Bhd

470,618

383,868

Sports

Toto

Bhd

138,003

92,600

Ann

Holdings

Bhd

80,855

3,301,500

YTL

Corporation

Bhd

2,455,520

Total

4,613,596

Mexico

(1.3%)

10,649

America

Movil

SAB

ADR

178,051

141,324

Cemex

SAB

ADR

907,300

28,487

Coca-Cola

FEMSA

SAB

ADR

2,576,079

4,078

Fomento

Economico

Mexicano

SAB

ADR

449,600

101,200

Grupo

Financiero

Banorte

SAB

ADR

759,964

209,000

Grupo

Mexico

SAB

1,175,408

265,100

Megacable

Holdings

SAB

620,099

67,800

Wal-Mart

Mexico

SAB

225,624

Total

6,892,125

Netherlands

(<0.1%)

27,784

NEPI

Rockcastle

210,098

Total

210,098

Philippines

(0.1%)

152,140

Bank

the

Philippine

Islands

316,136

Total

316,136

Poland

(1.9%)

78,724

Asseco

Poland

1,668,571

15,287

Bank

Polska

Kasa

Opieki

619,294

6,078

Budimex

978,139

20,859

KGHM

Polska

Miedz

717,071

63,554

Orlen

1,036,316

158,924

Powszechna

Kasa

Oszczednosci

Bank

Polski

2,361,839

226,881

Powszechny

Zaklad

Ubezpieczen

2,778,412

Total

10,159,642

Qatar

(0.3%)

806,335

Commercial

Bank

PSQC

925,480

69,334

Gulf

Warehousing

Company

62,193

549,450

Masraf

Rayan

QSC

351,500

52,758

Qatar

National

Bank

QPSC

221,276

Total

1,560,449

Russian

Federation

(<0.1%)

647,134

Gazprom

PJSC

ADR

a,e

56,865

GMK

Norilskiy

Nickel

PAO

ADR

a,e

23,359

LUKOIL

PJSC

e,f

23,091

Mechel

PJSC

ADR

a,b,e

1,696

Novatek

PJSC

GDR

a,e

2,615

Polyus

PJSC

a,e

1,260,120

Sberbank

Russia

PJSC

e,f

67,230

Sovcomflot

OAO

e,f

2,930,700

Surgutneftegas

PJSC

e,f

257,974

Surgutneftegas

PJSC

ADR

a,e

Total

104

Saudi

Arabia

(3.0%)

209,468

Rajhi

Bank

4,776,038

2,167

Rajhi

Company

for

Co-operative

Insurance

126,106

548,243

Arab

National

Bank

3,135,806

Common

Stock

(97.4%)

Value

Saudi

Arabia

(3.0%)

continued

27,740

Dr.

Sulaiman

Habib

Medical

Services

Group

Company

2,129,353

13,164

Eastern

Province

Cement

Company

113,855

7,025

Jarir

Marketing

Company

24,319

68,960

Maharah

Human

Resources

Company

131,011

4,851

Mouwasat

Medical

Services

Company

156,088

3,759

SAL

Saudi

Logistics

Services

315,006

88,506

Saudi

Arabian

Oil

Company

651,123

7,977

Saudi

Aramco

Base

Oil

Company

276,612

21,385

Saudi

Basic

Industries

Corporation

449,142

274,917

Saudi

National

Bank

2,777,862

145,268

Saudi

Telecom

Company

1,492,183

Total

16,554,504

South

Africa

(2.1%)

12,044

Absa

Group,

Ltd.

105,676

229,764

AECI,

Ltd.

1,335,977

70,833

Aspen

Pharmacare

Holdings,

Ltd.

979,547

21,255

Barloworld,

Ltd.

108,478

30,182

Coronation

Fund

Managers,

Ltd.

61,963

227,790

DataTec,

Ltd.

446,926

25,229

Exxaro

Resources,

Ltd.

270,306

149,198

FirstRand,

Ltd.

670,409

20,509

Gold

Fields,

Ltd.

ADR

351,934

83,159

Harmony

Gold

Mining

Company,

Ltd.

ADR

808,305

51,713

Kumba

Iron

Ore,

Ltd.

1,128,075

79,735

Price

Group,

Ltd.

946,969

9,279

Naspers,

Ltd.

1,794,514

60,031

Sasol,

Ltd.

486,777

174,179

Standard

Bank

Group

2,122,913

34,479

Super

Group,

Ltd.

57,629

Total

11,676,398

South

Korea

(8.5%)

7,963

Caregen

Company,

Ltd.

131,709

1,650

Celltrion,

Inc.

247,000

6,685

Corporation

648,776

22,819

Green

Cross

Holdings

Corporation

253,765

76,298

Holdings

Corporation

2,731,410

4,343

Hanmi

Pharm

Company,

Ltd.

917,790

60,820

Hanon

Systems

197,827

18,079

Hyundai

Company,

Ltd.

1,107,907

9,044

Hyundai

Motor

Company

1,648,269

74,202

Corporation

2,160,867

42,253

KT&G

Corporation

2,880,465

1,161

Chem,

Ltd.

261,091

24,980

Uplus

Corporation

182,705

7,471

Lotte

Shopping

Company,

Ltd.

337,522

11,430

NAVER

Corporation

1,457,811

2,557

Samsung

Biologics

Company,

Ltd.

a,c

1,754,333

23,193

Samsung

C&T

Corporation

2,641,728

304,565

Samsung

Electronics

Company,

Ltd.

18,780,170

39,668

Biosensor,

Inc.

278,592

20,055

Hynix,

Inc.

2,876,359

6,647

SK,

Inc.

729,037

59,322

Yuhan

Corporation

4,087,283

Total

46,312,416

Emerging

Markets

Equity

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Common

Stock

(97.4%)

Value

Taiwan

(20.8%)

78,532

ASE

Technology

Holding

Company,

Ltd.

ADR

786,891

1,591,000

Asia

Cement

Corporation

2,009,997

52,000

Asustek

Computer,

Inc.

729,231

191,000

Cathay

Financial

Holding

Company,

Ltd.

365,731

453,000

Chang

Hwa

Commercial

Bank,

Ltd.

259,086

1,472,000

Cheng

Shin

Rubber

Industry

Company,

Ltd.

2,168,926

60,000

Chicony

Electronics

Company,

Ltd.

285,927

25,000

Chicony

Power

Technology

Company,

Ltd.

102,028

67,000

China

Steel

Chemical

Corporation

205,364

557,000

Chipbond

Technology

Corporation

1,083,466

13,633

Chunghwa

Telecom

Company,

Ltd.

ADR

506,466

1,158,000

Compal

Electronics,

Inc.

1,122,006

174,000

Delta

Electronics,

Inc.

2,234,826

83,000

Dynapack

International

Technology

Corporation

279,836

403,000

Far

Eastern

New

Century

Corporation

419,233

264,000

Far

EasTone

Telecommunications

Company,

Ltd.

695,457

484,000

Feng

Hsin

Steel

Company,

Ltd.

1,171,393

16,000

Fusheng

Precision

Company,

Ltd.

139,817

843,000

Hon

Hai

Precision

Industry

Company,

Ltd.

5,171,738

917,000

Inventec

Corporation

1,356,026

507,000

Lite-On

Technology

Corporation

1,550,563

189,000

MediaTek,

Inc.

7,198,091

1,292,000

Nan

Plastics

Corporation

1,976,978

1,573,000

Pegatron

Corporation

4,859,191

1,111,000

Pou

Chen

Corporation

1,226,350

41,000

Powertech

Technology,

Inc.

206,165

46,000

President

Chain

Store

Corporation

389,631

211,000

Quanta

Computer,

Inc.

1,797,668

71,000

Realtek

Semiconductor

Corporation

1,120,023

81,000

Sigurd

Microelectronics

Corporation

191,544

128,000

Sino-American

Silicon

Products,

Inc.

754,071

1,081,000

Synnex

Technology

International

Corporation

2,348,284

112,000

Systex

Corporation

418,939

2,447,674

Taichung

Commercial

Bank

Company,

Ltd.

1,330,530

88,000

Taiwan

Fertilizer

Company,

Ltd.

173,175

707,000

Taiwan

Mobile

Company,

Ltd.

2,274,421

30,000

Taiwan

Secom

Company,

Ltd.

121,377

1,823,000

Taiwan

Semiconductor

Manufacturing

Company,

Ltd.

53,179,307

264,164

Topco

Scientific

Company,

Ltd.

2,172,792

44,000

Transcend

Information,

Inc.

133,564

1,502,000

Uni-President

Enterprises

Corporation

3,859,999

139,000

USI

Corporation

67,107

156,000

Wah

Lee

Industrial

Corporation

654,214

289,000

WPG

Holdings,

Ltd.

761,557

4,137,879

Yuanta

Financial

Holding

Company,

Ltd.

4,151,448

Total

114,010,434

Thailand

(0.3%)

597,600

Central

Pattana

pcl

NVDR

927,760

Common

Stock

(97.4%)

Value

Thailand

(0.3%)

continued

151,800

Kasikornbank

pcl

NVDR

560,731

Total

1,488,491

Turkey

(1.1%)

55,693

Ford

Otomotiv

Sanayi

1,671,576

298,682

Haci

Omer

Sabanci

Holding

896,017

29,668

KOC

Holding

192,694

361,497

Tekfen

Holding

630,370

305,577

Turk

Hava

Yollari

Anonim

Ortakligi

2,668,906

Total

6,059,563

United

Arab

Emirates

(2.1%)

46,703

Abu

Dhabi

Commercial

Bank

PJSC

113,157

951,907

Abu

Dhabi

National

Oil

Company

for

Distribution

PJSC

924,849

1,282,023

Deyaar

Development

PJSC

248,171

1,948,578

Dubai

Islamic

Bank

PJSC

3,103,549

1,649,390

Emaar

Properties

PJSC

3,875,423

645,964

Emirates

NBD

Bank

PJSC

3,359,129

Total

11,624,278

United

Kingdom

(0.3%)

52,667

AngloGold

Ashanti

plc

1,516,574

Total

1,516,574

Virgin

Islands,

British

(<0.1%)

17,004

IPJSC

GDR

a,e

Total

Common

Stock

(cost

$477,980,455)

533,686,848

Preferred

Stock

(

1.4%

)

Brazil

(0.1%)

586,600

Companhia

Saneamento

Parana

574,554

Total

574,554

Russian

Federation

(<0.1%)

65,200

Transneft

PJSC

e,f

Total

South

Korea

(1.3%)

9,639

Hyundai

Motor

Company,

2nd

Preferred

1,171,505

17,493

Hyundai

Motor

Company,

Preferred

2,117,382

77,995

Samsung

Electronics

Company,

Ltd.

3,713,096

Total

7,001,983

Total

Preferred

Stock

(cost

$8,300,896)

7,576,537

Collateral

Held

for

Securities

Loaned

(

0.5%

)

2,970,225

Thrivent

Cash

Management

Trust

2,970,225

Total

Collateral

Held

for

Securities

Loaned

(cost

$2,970,225)

2,970,225

Emerging

Markets

Equity

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Principal

Amount

Short-Term

Investments

(

0.9%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

100,000

5.245%,

9/13/2024

g,h

99,359

800,000

5.225%,

9/17/2024

g,h

794,405

Thrivent

Core

Short-Term

Reserve

Fund

383,034

5.600%

3,830,342

Total

Short-Term

Investments

(cost

$4,724,258)

4,724,106

Total

Investments

(cost

$493,975,834)

100.2%

$548,957,716

Other

Assets

and

Liabilities,

Net

(0.2%)

(867,244)

Total

Net

Assets

100.0%

$548,090,472

Denotes

securities

sold

under

Rule

144A

the

Securities

Act

1933,

which

exempts

them

from

registration.

These

securities

may

resold

other

dealers

the

program

other

qualified

institutional

buyers.

July

31,

2024,

the

value

these

investments

was

$25,476,471

4.6%

total

net

assets.

Security

valued

using

significant

unobservable

inputs.

Further

information

valuation

can

found

the

Notes

Financial

Statements.

Non-income

producing

security.

Security

received

part

corporate

restructure

prior

period

end

with

contractual

restriction

its

sale

less

than

one

month.

Pursuant

sanctions

the

Russian

invasion

Ukraine

which

restricts

the

ability

Russia

and

its

allied

nations

make

payments

its

dollar-denominated

sovereign

debt

and

equity,

existing

accruals

these

securities

have

been

reserved

and

income

currently

not

being

accrued.

All

portion

the

security

loan.

The

interest

rate

shown

reflects

the

yield.

All

portion

the

security

held

deposit

with

the

counterparty

and

pledged

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

securities

loaned

with

continuous

maturity,

type,

offset

the

gross

payable

upon

return

collateral

for

securities

loaned

Thrivent

Core

Emerging

Markets

Equity

Fund

July

31,

2024:

Securities

Lending

Transactions

Common

Stock

2,936,728

Total

lending

$2,936,728

Gross

amount

payable

upon

return

collateral

for

securities

loaned

$2,970,225

Net

amounts

due

counterparty

$33,497

Definitions:

ADR

American

Depositary

Receipt,

which

are

certificates

for

underlying

foreign

security's

held

issuing

U.S.

depository

bank.

Bhd

Berhad

suffix

used

Malaysia

identify

Public

Limited

Company

GDR

Global

Depository

Receipts,

which

are

certificates

for

underlying

foreign

security’s

held

issuing

depository

bank

from

than

one

country.

NVDR

Non-Voting

Depository

Receipts

pcl

Public

Company

Limited

plc

Public

Limited

Company

Emerging

Markets

Equity

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Reference

Description:

ICE

Intercontinental

Exchange

MSCI

Morgan

Stanley

Capital

International

Fair

Valuation

Measurements

The

following

table

summary

the

inputs

used,

July

31,

2024,

valuing

Emerging

Markets

Equity

Fund's

assets

carried

fair

value.

Investments

Securities

Total

Level

Common

Stock

Communications

Services^

45,881,078

4,218,687

41,662,391

Consumer

Discretionary

78,583,093

10,148,213

68,434,880

–

Consumer

Staples^

20,961,213

3,025,679

17,935,534

Energy^

26,208,685

1,682,975

24,525,616

Financials

109,982,628

14,510,717

95,471,909

Health

Care

23,781,732

–

23,781,732

–

Industrials

25,889,093

–

25,889,093

–

Information

Technology

147,958,665

3,068,782

144,889,883

–

Materials^

34,340,180

6,478,898

27,861,274

Real

Estate

12,687,917

–

12,687,917

–

Utilities

7,412,564

1,855,701

5,556,863

–

Preferred

Stock

Consumer

Discretionary

3,288,887

–

3,288,887

–

Energy^

–

Information

Technology

3,713,096

–

3,713,096

–

Utilities

574,554

–

574,554

–

Short-Term

Investments

893,764

–

893,764

–

Subtotal

Investments

Securities

$542,157,149

$44,989,652

$497,167,393

$104

Other

Investments *

Total

Affiliated

Short-Term

Investments

3,830,342

Collateral

Held

for

Securities

Loaned

2,970,225

Subtotal

Other

Investments

$6,800,567

Total

Investments

Value

$548,957,716

Certain

investments

are

measured

fair

value

using

net

asset

value

per

that

not

publicly

available

(practical

expedient). According

disclosure

requirements

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

the

fair

value

hierarchy. The

fair

value

amounts

presented

the

table

above

are

intended

permit

reconciliation

the

fair

value

hierarchy

the

amounts

presented

the

Statement

Assets

and

Liabilities.

Level

security

this

section

fair

valued

<$1.

The

following

table

summary

the

inputs

used,

July

31,

2024,

valuing

Emerging

Markets

Equity

Fund's

other

financial

instrument

assets

carried

fair

value.

Other

Financial

Instruments

Total

Level

Asset

Derivatives

Futures

Contracts

182,334

–

Total

Asset

Derivatives

$182,334

$–

The

following

table

presents

Emerging

Markets

Equity

Fund's

futures

contracts

held

July

31,

2024.

Investments

and/or

cash

totaling

$893,764

were

pledged

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

ICE

mini

MSCI

Emerging

Markets

Index

489

September

2024

26,627,091

182,334

Total

Futures

Long

Contracts

26,627,091

182,334

Total

Futures

Contracts

26,627,091

$182,334

Emerging

Markets

Equity

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Investment

Affiliates

Affiliated

issuers,

defined

under

the

Investment

Company

Act

1940,

include

those

which

the

Fund's

holdings

issuer

represent

the

outstanding

voting

securities

issuer,

any

affiliated

mutual

fund,

company

which

under

common

ownership

control

with

the

Fund.

The

Fund

owns

Thrivent

Cash

Management

Trust

for

the

purpose

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

series

Thrivent

Core

Funds,

primarily

serve

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

Thrivent

entities.

summary

transactions

(in

thousands;

values

shown

zero

are

less

than

$500)

for

the

fiscal

year

date,

Emerging

Markets

Equity

Fund,

follows:

Fund

Value

10/31/2023

Gross

Purchases

Gross

Sales

Value

7/31/2024

Held

7/31/2024

Net

Assets

7/31/2024

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.600%

$4,761

$92,256

$93,187

$3,830

383

0.7%

Total

Affiliated

Short-Term

Investments

4,761

3,830

0.7

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

13,989

11,023

2,970

0.5

Total

Collateral

Held

for

Securities

Loaned

2,970

0.5

Total

Value

$4,765

$6,800

Portfolio

Net

Realized

Gain/(Loss)

Change

Unrealized

Appreciation/

(Depreciation)

Distributions

Realized

Capital

Gains

Income

Earned

11/1/2023

7/31/2024

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.600%

$–

–

$201

Total

Income/Non

Cash

Income

from

Affiliated

Investments

$201

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

Total

Affiliated

Income

from

Securities

Loaned,

Net

Total

Value

$–

–

International

Equity

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Common

Stock

(

99.0%

)

Value

Australia

(6.6%)

189,590

APA

Group

982,674

47,806

Aristocrat

Leisure,

Ltd.

1,702,567

96,580

Aurizon

Holdings,

Ltd.

235,488

110,943

Australia

and

New

Zealand

Banking

Group,

Ltd.

2,110,694

193,003

BHP

Group,

Ltd.

5,360,644

57,511

BlueScope

Steel,

Ltd.

835,126

72,547

Brambles,

Ltd.

739,593

1,144

CAR

Group,

Ltd.

26,164

2,504

Cochlear,

Ltd.

565,793

54,492

Coles

Group,

Ltd.

645,821

51,498

Commonwealth

Bank

Australia

4,640,490

20,795

Computershare,

Ltd.

375,059

20,187

CSL,

Ltd.

4,097,215

41,357

Deterra

Royalties,

Ltd.

108,127

22,210

Fortescue,

Ltd.

276,355

4,978

Goodman

Group

114,923

245,727

Insurance

Australia

Group,

Ltd.

1,188,803

21,832

Hi-Fi,

Ltd.

996,819

303,018

Lottery

Corporation,

Ltd.

987,403

2,933

Macquarie

Group,

Ltd.

403,656

110,382

National

Australia

Bank,

Ltd.

2,787,880

69,027

Northern

Star

Resources,

Ltd.

640,648

9,660

Orica,

Ltd.

113,668

101,580

Origin

Energy,

Ltd.

696,988

76,948

Perseus

Mining,

Ltd.

128,210

6,461

Premier

Investments,

Ltd.

140,480

3,692

Pro

Medicus,

Ltd.

348,337

52,132

QBE

Insurance

Group,

Ltd.

615,264

7,608

Rio

Tinto,

Ltd.

584,614

29,717

Santos,

Ltd.

154,912

20,465

Technology

One,

Ltd.

276,451

181,552

Telstra

Corporation,

Ltd.

469,178

54,356

Wesfarmers,

Ltd.

2,623,341

125,529

Westpac

Banking

Corporation

2,453,187

3,834

Woodside

Energy

Group,

Ltd.

69,529

13,789

Woolworths,

Ltd.

311,123

Total

38,807,224

Belgium

(0.2%)

2,057

Anheuser-Busch

InBev

122,133

14,642

Groupe

Bruxelles

Lambert

1,092,720

Total

1,214,853

Bermuda

(0.2%)

34,800

Jardine

Matheson

Holdings,

Ltd.

1,225,968

Total

1,225,968

Canada

(10.5%)

20,727

Agnico

Eagle

Mines,

Ltd.

1,599,281

149,821

Alimentation

Couche-Tard,

Inc.

9,235,697

20,200

ATCO,

Ltd.

626,637

18,497

Bank

Montreal

1,560,117

47,462

Bank

Nova

Scotia

2,216,257

29,064

Barrick

Gold

Corporation

538,483

21,591

Canadian

Imperial

Bank

Commerce

1,116,574

71,640

Canadian

National

Railway

Company

8,293,355

99,908

Canadian

Natural

Resources,

Ltd.

3,547,235

2,825

Canadian

Pacific

Kansas

City,

Ltd.

236,902

56,830

Canadian

Utilities,

Ltd.

1,330,760

11,681

Cenovus

Energy,

Inc.

235,371

2,822

Cogeco

Communications,

Inc.

129,383

1,180

Constellation

Software,

Inc./Canada

3,723,190

Common

Stock

(99.0%)

Value

Canada

(10.5%)

continued

2,652

Franco-Nevada

Corporation

342,002

37,938

Hydro

One,

Ltd.

1,188,989

12,648

Laurentian

Bank

Canada

244,963

11,117

Loblaw

Companies,

Ltd.

1,370,854

108,267

Manulife

Financial

Corporation

2,884,192

24,458

Metro,

Inc./CN

1,456,514

5,379

National

Bank

Canada

449,909

39,162

Royal

Bank

Canada

4,376,137

11,015

Russel

Metals,

Inc.

320,242

186,757

Suncor

Energy,

Inc.

7,458,647

5,567

Teck

Resources,

Ltd.

272,839

9,075

Thomson

Reuters

Corporation

1,470,707

14,435

Toromont

Industries,

Ltd.

1,342,450

61,457

Toronto-Dominion

Bank

3,629,152

37,544

TransAlta

Corporation

282,807

7,127

Wheaton

Precious

Metals

Corporation

425,910

Total

61,905,556

Denmark

(2.7%)

13,388

Carlsberg

1,616,694

92,325

Novo

Nordisk

12,232,407

13,763

Pandora

2,157,396

Total

16,006,497

Finland

(0.4%)

163,855

Fortum

Oyj

2,519,600

Total

2,519,600

France

(7.6%)

18,848

Air

Liquide

3,438,982

64,759

BNP

Paribas

4,436,887

63,776

Compagnie

Saint-Gobain

5,471,078

85,719

Compagnie

Generale

des

Etablissements

Michelin

SCA

3,393,522

39,460

Danone

2,563,526

52,390

Dassault

Systemes

1,986,042

31,242

Eiffage

3,109,261

46,953

Engie

738,110

9,356

Ipsos

577,427

61,681

Legrand

6,667,422

3,572

LVMH

Moet

Hennessy

Louis

Vuitton

2,519,557

23,399

Schneider

Electric

5,639,990

75,872

Societe

Generale

1,967,893

10,612

TotalEnergies

715,954

13,177

Vinci

1,503,734

1,256

Wendel

120,339

Total

44,849,724

Germany

(5.1%)

37,476

Allianz

10,555,703

18,707

Bayerische

Motoren

Werke

1,735,060

26,991

Deutsche

Boerse

5,526,913

9,626

Heidelberg

Materials

1,002,830

3,800

Merck

KGaA

678,956

1,739

Muenchener

Rueckversicherungs-

Gesellschaft

856,502

2,487

Porsche

Automobil

Holding

111,168

28,612

SAP

6,049,164

9,391

Scout24

742,430

13,381

Siemens

2,450,025

18,927

Vonovia

580,306

Total

30,289,057

International

Equity

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Common

Stock

(99.0%)

Value

Hong

Kong

(1.3%)

123,000

Hutchison

Holdings,

Ltd.

642,566

99,000

CLP

Holdings,

Ltd.

849,680

103,000

Henderson

Land

Development

Company,

Ltd.

289,309

83,300

Hong

Kong

Exchanges

Clearing,

Ltd.

2,457,104

108,000

Sun

Hung

Kai

Properties,

Ltd.

935,120

23,000

Swire

Pacific,

Ltd.

198,416

157,500

Techtronic

Industries

Company,

Ltd.

2,017,054

Total

7,389,249

Ireland

(0.7%)

44,498

CRH

plc

3,784,857

Total

3,784,857

Israel

(0.8%)

89,832

Bank

Leumi

Le-Israel

774,126

18,685

Check

Point

Software

Technologies,

Ltd.

3,427,764

672

Nova,

Ltd.

135,026

17,745

Plus500,

Ltd.

535,170

Total

4,872,086

Italy

(3.3%)

11,513

ACEA

SPA

199,745

29,949

Azimut

Holding

SPA

750,398

189,960

Banca

Mediolanum

SPA

2,242,728

141,608

Banca

Monte

dei

Paschi

Siena

SPA

772,736

93,843

BPER

Banca

SPA

549,079

545

Buzzi

SPA

21,366

725,346

Enel

SPA

5,178,378

2,555

Eni

SPA

40,879

661,204

Intesa

Sanpaolo

SPA

2,685,042

330,840

Italgas

SPA

1,769,059

50,676

Pirelli

SPA

317,247

93,068

Recordati

SPA

5,066,927

Total

19,593,584

Japan

(20.6%)

37,500

Advantest

Corporation

1,659,802

4,000

Ain

Holdings,

Inc.

153,785

13,600

Arcs

Company,

Ltd.

247,097

86,500

Astellas

Pharma,

Inc.

1,003,223

7,300

Canon,

Inc.

228,502

13,800

COMSYS

Holdings

Corporation

297,089

29,000

Daiichi

Sankyo

Company,

Ltd.

1,181,103

4,200

Daikin

Industries,

Ltd.

609,028

1,000

Daito

Trust

Construction

Company,

Ltd.

120,260

48,200

Daiwa

House

Industry

Company,

Ltd.

1,364,946

226,100

Daiwa

Securities

Group,

Inc.

1,866,705

3,700

DISCO

Corporation

1,237,268

424,600

Eneos

Holdings,

Inc.

2,224,709

1,100

Fast

Retailing

Company,

Ltd.

303,214

4,100

Fuji

Soft,

Inc.

196,432

73,300

FUJIFILM

Holdings

NPV

1,742,776

20,100

Heiwa

Corporation

288,364

92,500

Hitachi,

Ltd.

1,998,618

278,100

Honda

Motor

Company,

Ltd.

2,971,381

25,100

Hoya

Corporation

3,145,050

27,600

Hulic

Company,

Ltd.

269,407

46,600

Inaba

Denki

Sangyo

Company,

Ltd.

1,221,789

Common

Stock

(99.0%)

Value

Japan

(20.6%)

continued

19,000

ITOCHU

Corporation

974,386

334,400

Japan

Post

Holdings

Company,

Ltd.

3,541,452

9,500

Kajima

Corporation

183,573

153,300

KDDI

Corporation

4,612,799

4,600

Keyence

Corporation

2,011,398

35,300

Komatsu,

Ltd.

1,003,493

193,400

Kyocera

Corporation

2,435,867

46,500

Kyoei

Steel,

Ltd.

618,886

8,300

Lasertec

Corporation

1,472,696

14,300

MEITEC

Group

Holdings,

Inc.

322,895

73,200

Mitsubishi

Chemical

Group

Corporation

432,337

126,800

Mitsubishi

Corporation

2,618,680

143,000

Mitsubishi

Capital,

Inc.

1,028,802

32,800

Mitsubishi

Heavy

Industries,

Ltd.

393,144

335,900

Mitsubishi

UFJ

Financial

Group,

Inc.

3,879,764

42,200

Mitsui

Company,

Ltd.

979,204

166,700

Mizuho

Financial

Group,

Inc.

3,810,786

78,000

and

Insurance

Group

Holdings,

Inc.

1,838,815

66,100

Murata

Manufacturing

Company,

Ltd.

1,470,591

5,500

NEC

Corporation

476,051

45,000

Nintendo

Company,

Ltd.

2,486,628

3,749,800

Nippon

Telegraph

and

Telephone

Corporation

3,996,212

3,600

Nishimatsu

Construction

Company,

Ltd.

117,337

20,100

Nitto

Kogyo

Corporation

457,000

138,500

Nomura

Holdings,

Inc.

853,937

13,600

Nomura

Real

Estate

Holdings,

Inc.

380,184

10,300

Nomura

Research

Institute,

Ltd.

317,979

7,800

NSD

Company,

Ltd.

160,567

22,300

NTT

Data

Group

Corporation

347,309

10,800

Ono

Pharmaceutical

Company,

Ltd.

159,325

36,100

Oriental

Land

Company,

Ltd.

1,033,526

54,200

ORIX

Corporation

1,311,079

7,600

Otsuka

Corporation

168,475

11,300

Otsuka

Holdings

Company,

Ltd.

575,942

9,200

Rakus

Company,

Ltd.

128,896

36,700

Recruit

Holdings

Company,

Ltd.

2,104,499

110,500

Renesas

Electronics

Corporation

1,903,238

57,900

Rohm

Company,

Ltd.

789,423

3,700

Rorze

Corporation

601,756

2,700

Sankyu,

Inc.

92,226

11,300

SCREEN

Holdings

Company,

Ltd.

957,560

36,700

Secom

Company,

Ltd.

2,343,396

15,800

Sekisui

Chemical

Company,

Ltd.

238,390

132,800

Sekisui

House,

Ltd.

3,327,483

49,800

Seven

Holdings

Company,

Ltd.

596,343

1,400

SHIFT,

Inc.

107,544

68,100

Shin-Etsu

Chemical

Company,

Ltd.

3,025,730

200

SMC

Corporation

97,313

16,700

SoftBank

Group

Corporation

1,020,577

6,100

Sojitz

Corporation

144,284

48,600

Sompo

Holdings,

Inc.

1,108,173

56,700

Sony

Group

Corporation

5,036,017

59,700

Sumitomo

Corporation

1,483,398

24,700

Sumitomo

Mitsui

Financial

Group,

Inc.

1,783,659

48,600

Sumitomo

Mitsui

Trust

Holdings,

Inc.

1,228,455

16,200

Taiyo

Holdings

Company,

Ltd.

387,163

4,200

Takara

Standard

Company,

Ltd.

48,465

International

Equity

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Common

Stock

(99.0%)

Value

Japan

(20.6%)

continued

153,600

Takeda

Pharmaceutical

Company,

Ltd.

4,312,211

27,100

Terumo

Corporation

485,859

36,900

Toagosei

Company,

Ltd.

395,305

4,800

Toho

Holdings

Company,

Ltd.

139,577

23,100

Tokio

Marine

Holdings,

Inc.

906,286

20,700

Tokyo

Electron,

Ltd.

4,331,423

102,500

TOPPAN

Holdings,

Inc.

2,899,331

12,300

Toyota

Industries

Corporation

1,034,062

289,900

Toyota

Motor

Corporation

5,569,199

19,300

Tsubakimoto

Chain

Company

834,635

60,600

Asahi

Holdings

Corporation

844,554

24,500

Yamada

Holdings

Company,

Ltd.

74,334

9,600

Yuasa

Trading

Company,

Ltd.

358,155

Total

121,540,586

Jersey

(0.9%)

63,439

Experian

plc

2,993,041

267,403

Glencore

plc

1,483,772

233,144

Man

Group

plc

734,001

Total

5,210,814

Netherlands

(5.5%)

3,989

ASM

International

2,744,520

15,344

ASML

Holding

14,287,908

3,383

EXOR

346,800

7,148

Ferrari

2,941,925

152,316

Koninklijke

Ahold

Delhaize

4,906,896

10,906

Koninklijke

Vopak

487,205

201,456

MFE-MediaForEurope

686,312

168,513

Stellantis

2,808,116

18,497

Wolters

Kluwer

3,096,574

Total

32,306,256

New

Zealand

(0.1%)

50,557

Contact

Energy,

Ltd.

255,756

1,704

Xero,

Ltd.

155,264

Total

411,020

Norway

(0.6%)

164,912

DNB

Bank

ASA

3,407,091

9,419

Yara

International

ASA

268,313

Total

3,675,404

Singapore

(1.4%)

534,500

CapitaLand

Integrated

Commercial

Trust

834,909

361,800

ComfortDelGro

Corporation,

Ltd.

379,571

248,420

DBS

Group

Holdings,

Ltd.

6,807,561

Total

8,022,041

Spain

(2.7%)

89,219

Acerinox

937,470

6,388

Aena

SME

1,213,713

28,068

Amadeus

Holding

1,848,585

484,293

Banco

Bilbao

Vizcaya

Argentaria

5,075,985

657,375

Banco

Santander

3,171,279

46,249

Compania

Distribucion

Integral

Logista

Holdings

1,369,628

32,000

Industria

Diseno

Textil

1,554,846

4,582

Laboratorios

Farmaceuticos

ROVI

440,854

13,275

Redeia

Corporacion

235,696

Common

Stock

(99.0%)

Value

Spain

(2.7%)

continued

925

Vidrala

96,267

Total

15,944,323

Sweden

(4.0%)

4,926

AAK

141,756

38,288

Industrivarden,

Class

1,313,438

7,822

Alfa

Laval

345,858

184,520

Assa

Abloy

5,619,429

255,651

Atlas

Copco

AB,

Class

4,549,989

20,067

Atlas

Copco

AB,

Class

313,967

15,081

Evolution

Gaming

Group

1,460,885

115,525

Granges

1,410,317

46,894

Hexpol

524,460

128,608

Investor

AB,

Class

3,651,198

158,281

SSAB

AB,

Class

816,603

106,358

Svenska

Handelsbanken

1,073,564

7,065

Svolder

41,994

25,963

Swedbank

552,076

41,468

Trelleborg

1,541,058

Total

23,356,592

Switzerland

(10.9%)

166,466

ABB,

Ltd.

9,239,967

1,016

Givaudan

4,984,553

87,289

Holcim

8,157,193

Lindt

Spruengli

463,743

37,538

Nestle

3,802,324

152,082

Novartis

16,976,586

11,756

PSP

Swiss

Property

1,570,967

17,413

Roche

Holding

AG,

Participation

Certificates

5,637,626

599

Siegfried

Holding

698,166

13,949

Sonova

Holding

4,275,871

164,177

UBS

Group

4,974,674

6,655

Zurich

Insurance

Group

3,658,721

Total

64,440,391

United

Kingdom

(12.9%)

81,639

AstraZeneca

plc

12,970,013

599,629

Auto

Trader

Group

plc

6,281,008

12,012

Berkeley

Group

Holdings

plc

784,169

35,278

British

Land

Company

plc

186,983

37,854

Coca-Cola

European

Partners

plc

2,792,489

258,984

Compass

Group

plc

7,975,388

41,754

Evraz

plc

b,d

58,333

Halma

plc

1,996,648

270,722

HSBC

Holdings

plc

2,461,965

68,842

Imperial

Brands

plc

1,897,406

32,684

InterContinental

Hotels

Group

plc

3,292,760

59,098

MONY

Group

plc

180,405

38,281

plc

4,474,257

9,477

Paragon

Banking

Group

plc

97,928

156,113

RELX

plc

7,368,118

45,660

Rio

Tinto

plc

2,969,393

455,150

Shell

plc

16,596,476

353,292

Tesco

plc

1,506,599

35,866

Unilever

plc

2,204,127

29,037

Zigup

plc

158,505

Total

76,194,642

Total

Common

Stock

(cost

$487,908,809)

583,560,324

International

Equity

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Collateral

Held

for

Securities

Loaned

(

0.9%

)

Value

4,935,770

Thrivent

Cash

Management

Trust

4,935,770

Total

Collateral

Held

for

Securities

Loaned

(cost

$4,935,770)

4,935,770

Preferred

Stock

(

<0.1%

)

Germany

(0.1%)

1,857

Bayerische

Motoren

Werke

159,204

6,542

Henkel

Company

KGaA

559,615

Total

718,819

Total

Preferred

Stock

(cost

$696,175)

718,819

Principal

Amount

Short-Term

Investments

(

0.3%

)

Federal

Home

Loan

Bank

Discount

Notes

200,000

5.243%,

8/14/2024

e,f

199,591

400,000

5.225%,

9/17/2024

e,f

397,203

100,000

5.105%,

11/22/2024

e,f

98,407

Thrivent

Core

Short-Term

Reserve

Fund

117,167

5.600%

1,171,667

Total

Short-Term

Investments

(cost

$1,866,957)

1,866,868

Total

Investments

(cost

$495,407,711)

100.3%

$591,081,781

Other

Assets

and

Liabilities,

Net

(0.3%)

(1,704,686)

Total

Net

Assets

100.0%

$589,377,095

Denotes

securities

sold

under

Rule

144A

the

Securities

Act

1933,

which

exempts

them

from

registration.

These

securities

may

resold

other

dealers

the

program

other

qualified

institutional

buyers.

July

31,

2024,

the

value

these

investments

was

$10,015,283

1.7%

total

net

assets.

Non-income

producing

security.

All

portion

the

security

loan.

Security

valued

using

significant

unobservable

inputs.

Further

information

valuation

can

found

the

Notes

Financial

Statements.

The

interest

rate

shown

reflects

the

yield.

All

portion

the

security

held

deposit

with

the

counterparty

and

pledged

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

securities

loaned

with

continuous

maturity,

type,

offset

the

gross

payable

upon

return

collateral

for

securities

loaned

Thrivent

Core

International

Equity

Fund

July

31,

2024:

Securities

Lending

Transactions

Common

Stock

4,763,757

Total

lending

$4,763,757

Gross

amount

payable

upon

return

collateral

for

securities

loaned

$4,935,770

Net

amounts

due

counterparty

$172,013

Definitions:

plc

Public

Limited

Company

International

Equity

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Reference

Description:

EAFE

Europe,

Australasia

and

Far

East

ICE

Intercontinental

Exchange

MSCI

Morgan

Stanley

Capital

International

Fair

Valuation

Measurements

The

following

table

summary

the

inputs

used,

July

31,

2024,

valuing

International

Equity

Fund's

assets

carried

fair

value.

Investments

Securities

Total

Level

Common

Stock

Communications

Services

22,053,077

–

22,053,077

–

Consumer

Discretionary

62,667,399

–

62,667,399

–

Consumer

Staples

36,034,927

2,792,489

33,242,438

–

Energy

31,530,917

–

31,530,917

–

Financials

126,526,803

–

126,526,803

–

Health

Care

74,991,041

–

74,991,041

–

Industrials

102,744,728

–

102,744,728

–

Information

Technology

57,527,530

3,427,764

54,099,766

–

Materials

45,981,709

1,040,751

44,940,953

Real

Estate

6,647,314

–

6,647,314

–

Utilities

16,854,879

–

16,854,879

–

Preferred

Stock

Consumer

Discretionary

159,204

–

159,204

–

Consumer

Staples

559,615

–

559,615

–

Short-Term

Investments

695,201

–

695,201

–

Subtotal

Investments

Securities

$584,974,344

$7,261,004

$577,713,335

Other

Investments *

Total

Affiliated

Short-Term

Investments

1,171,667

Collateral

Held

for

Securities

Loaned

4,935,770

Subtotal

Other

Investments

$6,107,437

Total

Investments

Value

$591,081,781

Certain

investments

are

measured

fair

value

using

net

asset

value

per

that

not

publicly

available

(practical

expedient). According

disclosure

requirements

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

the

fair

value

hierarchy. The

fair

value

amounts

presented

the

table

above

are

intended

permit

reconciliation

the

fair

value

hierarchy

the

amounts

presented

the

Statement

Assets

and

Liabilities.

The

following

table

summary

the

inputs

used,

July

31,

2024,

valuing

International

Equity

Fund's

other

financial

instrument

assets

carried

fair

value.

Other

Financial

Instruments

Total

Level

Asset

Derivatives

Futures

Contracts

313,445

–

Total

Asset

Derivatives

$313,445

$–

The

following

table

presents

International

Equity

Fund's

futures

contracts

held

July

31,

2024.

Investments

and/or

cash

totaling

$695,201

were

pledged

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

Contracts

Long/(Short)

Expiration

Date

Notional

Amount

Value

and

Unrealized

ICE

mini

MSCI

EAFE

Index

151

September

2024

17,728,790

313,445

Total

Futures

Long

Contracts

17,728,790

313,445

Total

Futures

Contracts

17,728,790

$313,445

International

Equity

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Investment

Affiliates

Affiliated

issuers,

defined

under

the

Investment

Company

Act

1940,

include

those

which

the

Fund's

holdings

issuer

represent

the

outstanding

voting

securities

issuer,

any

affiliated

mutual

fund,

company

which

under

common

ownership

control

with

the

Fund.

The

Fund

owns

Thrivent

Cash

Management

Trust

for

the

purpose

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

series

Thrivent

Core

Funds,

primarily

serve

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

Thrivent

entities.

summary

transactions

(in

thousands;

values

shown

zero

are

less

than

$500)

for

the

fiscal

year

date,

International

Equity

Fund,

follows:

Fund

Value

10/31/2023

Gross

Purchases

Gross

Sales

Value

7/31/2024

Held

7/31/2024

Net

Assets

7/31/2024

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.600%

$616

$55,661

$55,105

$1,172

117

0.2%

Total

Affiliated

Short-Term

Investments

616

1,172

0.2

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

4,528

60,227

59,819

4,936

0.9

Total

Collateral

Held

for

Securities

Loaned

4,528

4,936

0.9

Total

Value

$5,144

$6,108

Fund

Net

Realized

Gain/(Loss)

Change

Unrealized

Appreciation/

(Depreciation)

Distributions

Realized

Capital

Gains

Income

Earned

11/1/2023

7/31/2024

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.600%

$–

$77

Total

Income/Non

Cash

Income

from

Affiliated

Investments

$77

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

Total

Affiliated

Income

from

Securities

Loaned,

Net

$27

Total

$–

Low

Volatility

Equity

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Common

Stock

(

99.5%

)

Value

Communications

Services

(5.5%)

301

Alphabet,

Inc.,

Class

52,118

3,151

AT&T,

Inc.

60,657

3,754

Comcast

Corporation

154,928

2,195

Electronic

Arts,

Inc.

331,313

1,511

T-Mobile

US,

Inc.

275,425

11,002

Verizon

Communications,

Inc.

445,801

Total

1,320,242

Consumer

Discretionary

(4.1%)

AutoZone,

Inc.

134,749

158

Home

Depot,

Inc.

58,169

1,531

McDonald's

Corporation

406,327

256

O'Reilly

Automotive,

Inc.

288,343

130

Ulta

Beauty,

Inc.

47,436

403

Yum!

Brands,

Inc.

53,531

Total

988,555

Consumer

Staples

(10.4%)

2,491

Altria

Group,

Inc.

122,084

637

Church

Dwight

Company,

Inc.

62,432

2,202

Coca-Cola

Company

146,961

2,335

Colgate-Palmolive

Company

231,609

1,085

General

Mills,

Inc.

72,847

1,049

Hershey

Company

207,156

1,086

Kellanova

63,151

2,818

Keurig

Pepper,

Inc.

96,601

1,236

Kimberly-Clark

Corporation

166,922

1,930

Kraft

Heinz

Company

67,955

1,238

Kroger

Company

67,471

3,471

Mondelez

International,

Inc.

237,243

1,361

PepsiCo,

Inc.

235,004

531

Philip

Morris

International,

Inc.

61,150

1,935

Procter

Gamble

Company

311,071

1,182

Tyson

Foods,

Inc.

71,984

4,247

Walmart,

Inc.

291,514

Total

2,513,155

Energy

(2.4%)

721

Cheniere

Energy,

Inc.

131,684

362

Chevron

Corporation

58,090

365

Diamondback

Energy,

Inc.

73,843

651

Exxon

Mobil

Corporation

77,202

353

Marathon

Petroleum

Corporation

62,488

931

Occidental

Petroleum

Corporation

56,623

1,209

Schlumberger

58,383

1,334

Williams

Companies,

Inc.

57,282

Total

575,595

Financials

(16.7%)

846

Arch

Capital

Group,

Ltd.

81,030

1,536

Arthur

Gallagher

Company

435,440

874

Berkshire

Hathaway,

Inc.

383,249

1,262

Brown

Brown,

Inc.

125,481

1,721

Cboe

Global

Markets,

Inc.

315,821

1,742

Chubb,

Ltd.

480,200

964

Cincinnati

Financial

Corporation

125,918

1,171

CME

Group,

Inc.

226,834

First

Citizens

BancShares,

Inc./NC

189,980

1,075

Fiserv,

Inc.

175,838

1,410

Hartford

Financial

Services

Group,

Inc.

156,397

744

Intercontinental

Exchange,

Inc.

112,760

847

Loews

Corporation

67,718

1,812

Marsh

McLennan

Companies,

Inc.

403,297

Common

Stock

(99.5%)

Value

Financials

(16.7%)

continued

597

Mastercard,

Inc.

276,835

1,172

Progressive

Corporation

250,949

619

Travelers

Companies,

Inc.

133,976

335

Visa,

Inc.

88,999

Total

4,030,722

Health

Care

(17.4%)

1,290

Abbott

Laboratories

136,663

1,447

AbbVie,

Inc.

268,158

894

Amgen,

Inc.

297,228

236

Becton,

Dickinson

and

Company

56,890

732

Boston

Scientific

Corporation

54,080

4,809

Bristol-Myers

Squibb

Company

228,716

285

Cencora,

Inc.

67,796

1,046

CVS

Health

Corporation

63,105

137

Elevance

Health,

Inc.

72,888

471

Eli

Lilly

Company

378,811

3,512

Exelixis,

Inc.

82,357

3,230

Gilead

Sciences,

Inc.

245,674

330

Humana,

Inc.

119,331

1,060

Incyte

Corporation

68,974

2,241

Johnson

353,742

382

McKesson

Corporation

235,702

1,787

Medtronic

plc

143,532

3,526

Merck

Company,

Inc.

398,896

3,607

Pfizer,

Inc.

110,158

Regeneron

Pharmaceuticals,

Inc.

103,602

Thermo

Fisher

Scientific,

Inc.

55,814

496

UnitedHealth

Group,

Inc.

285,775

628

Vertex

Pharmaceuticals,

Inc.

311,312

185

Waters

Corporation

62,212

Total

4,201,416

Industrials

(11.3%)

540

Automatic

Data

Processing,

Inc.

141,815

2,113

Copart,

Inc.

110,573

3,140

CSX

Corporation

110,214

419

Cummins,

Inc.

122,264

420

Expeditors

International

Washington,

Inc.

52,424

404

Ferguson

Enterprises,

Inc.

89,951

659

Graco,

Inc.

56,048

1,369

Howmet

Aerospace,

Inc.

131,013

329

IDEX

Corporation

68,590

558

Lockheed

Martin

Corporation

302,391

844

MSC

Industrial

Direct

Company,

Inc.

75,074

493

Northrop

Grumman

Corporation

238,770

930

Paychex,

Inc.

119,059

1,428

Pentair

plc

125,478

1,363

Republic

Services,

Inc.

264,858

742

Uber

Technologies,

Inc.

47,837

533

Veralto

Corporation

56,796

1,478

Waste

Connections,

Inc.

262,744

1,766

Waste

Management,

Inc.

357,898

Total

2,733,797

Information

Technology

(24.2%)

553

Accenture

plc

182,833

233

Adobe,

Inc.

128,534

766

Akamai

Technologies,

Inc.

75,283

3,733

Amphenol

Corporation

239,883

1,630

Apple,

Inc.

361,990

180

Arista

Networks,

Inc.

62,379

2,580

Broadcom,

Inc.

414,554

Low

Volatility

Equity

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Common

Stock

(99.5%)

Value

Information

Technology

(24.2%)

continued

350

Cadence

Design

Systems,

Inc.

93,681

282

CDW

Corporation

61,507

9,003

Cisco

Systems,

Inc.

436,195

1,027

Cognizant

Technology

Solutions

Corporation

77,723

954

CommVault

Systems,

Inc.

145,819

138

CrowdStrike

Holdings,

Inc.

32,011

414

Dell

Technologies,

Inc.

47,064

2,617

Gen

Digital,

Inc.

68,016

604

GoDaddy,

Inc.

87,852

1,382

International

Business

Machines

Corporation

265,537

1,647

Juniper

Networks,

Inc.

62,075

619

Keysight

Technologies,

Inc.

86,394

1,067

Microsoft

Corporation

446,379

1,238

Motorola

Solutions,

Inc.

493,863

424

NVIDIA

Corporation

49,616

1,284

Oracle

Corporation

179,054

341

PTC,

Inc.

60,647

244

QUALCOMM,

Inc.

44,152

803

Roper

Industries,

Inc.

437,434

511

Salesforce,

Inc.

132,247

ServiceNow,

Inc.

61,894

873

Connectivity,

Ltd.

134,730

175

Teledyne

Technologies,

Inc.

73,826

2,227

Texas

Instruments,

Inc.

453,885

1,535

VeriSign,

Inc.

287,060

264

Workday,

Inc.

59,960

Total

5,844,077

Materials

(0.8%)

383

AptarGroup,

Inc.

56,293

1,185

Corteva,

Inc.

66,478

1,453

Newmont

Corporation

71,299

Total

194,070

Utilities

(6.7%)

2,241

Alliant

Energy

Corporation

124,734

1,940

American

Electric

Power

Company,

Inc.

190,353

431

American

Water

Works

Company,

Inc.

61,357

1,684

Consolidated

Edison,

Inc.

164,224

2,191

Duke

Energy

Corporation

239,411

1,782

Evergy,

Inc.

103,356

3,442

NiSource,

Inc.

107,562

1,764

OGE

Energy

Corporation

68,390

2,293

Portland

General

Electric

Company

108,642

2,410

Southern

Company

201,283

576

WEC

Energy

Group,

Inc.

49,571

3,403

Xcel

Energy,

Inc.

198,327

Total

1,617,210

Total

Common

Stock

(cost

$18,075,674)

24,018,839

Short-Term

Investments

(

0.5%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

11,696

5.600%

116,960

Total

Short-Term

Investments

(cost

$116,960)

116,960

Total

Investments

(cost

$18,192,634)

100.0%

$24,135,799

Other

Assets

and

Liabilities,

Net

<0.1%

2,316

Total

Net

Assets

100.0%

$24,138,115

Non-income

producing

security.

Definitions:

plc

Public

Limited

Company

Low

Volatility

Equity

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Fair

Valuation

Measurements

The

following

table

summary

the

inputs

used,

July

31,

2024,

valuing

Low

Volatility

Equity

Fund's

assets

carried

fair

value.

Investments

Securities

Total

Level

Common

Stock

Communications

Services

1,320,242

–

Consumer

Discretionary

988,555

–

Consumer

Staples

2,513,155

–

Energy

575,595

–

Financials

4,030,722

–

Health

Care

4,201,416

–

Industrials

2,733,797

–

Information

Technology

5,844,077

–

Materials

194,070

–

Utilities

1,617,210

–

Subtotal

Investments

Securities

$24,018,839

$–

Other

Investments *

Total

Affiliated

Short-Term

Investments

116,960

Subtotal

Other

Investments

$116,960

Total

Investments

Value

$24,135,799

Certain

investments

are

measured

fair

value

using

net

asset

value

per

that

not

publicly

available

(practical

expedient). According

disclosure

requirements

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

the

fair

value

hierarchy. The

fair

value

amounts

presented

the

table

above

are

intended

permit

reconciliation

the

fair

value

hierarchy

the

amounts

presented

the

Statement

Assets

and

Liabilities.

Investment

Affiliates

Affiliated

issuers,

defined

under

the

Investment

Company

Act

1940,

include

those

which

the

Fund's

holdings

issuer

represent

the

outstanding

voting

securities

issuer,

any

affiliated

mutual

fund,

company

which

under

common

ownership

control

with

the

Fund.

The

Fund

owns

Thrivent

Cash

Management

Trust

for

the

purpose

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

series

Thrivent

Core

Funds,

primarily

serve

cash

sweep

vehicle

for

the

Fund.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

Thrivent

entities.

summary

transactions

(in

thousands;

values

shown

zero

are

less

than

$500)

for

the

fiscal

year

date,

Low

Volatility

Equity

Fund,

follows:

Fund

Value

10/31/2023

Gross

Purchases

Gross

Sales

Value

7/31/2024

Held

7/31/2024

Net

Assets

7/31/2024

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.600%

$1,111

$5,970

$6,964

$117

0.5%

Total

Affiliated

Short-Term

Investments

1,111

117

0.5

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

5,181

447

5,628

–

Total

Collateral

Held

for

Securities

Loaned

5,181

–

Total

Value

$6,292

$117

Fund

Net

Realized

Gain/(Loss)

Change

Unrealized

Appreciation/

(Depreciation)

Distributions

Realized

Capital

Gains

Income

Earned

11/1/2023

7/31/2024

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.600%

$–

$28

Total

Income/Non

Cash

Income

from

Affiliated

Investments

$28

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

Total

Affiliated

Income

from

Securities

Loaned,

Net

$14

Total

$–

Mid

Cap

Value

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Common

Stock

(

97.7%

)

Value

Communications

Services

(2.7%)

565,444

Imax

Corporation

11,930,868

298,355

Warner

Brothers

Discovery,

Inc.

2,580,771

Total

14,511,639

Consumer

Discretionary

(10.0%)

159,510

Cheesecake

Factory,

Inc.

6,203,344

44,794

D.R.

Horton,

Inc.

8,059,784

74,763

Lear

Corporation

9,124,077

94,213

PUMA

4,675,148

50,196

Signet

Jewelers,

Ltd.

4,222,990

118,470

Six

Flags

Entertainment

Corporation

5,642,726

103,010

Tapestry,

Inc.

4,129,671

73,243

Wyndham

Hotels

Resorts,

Inc.

5,545,960

202,956

Yum

China

Holding,

Inc.

6,137,389

Total

53,741,089

Consumer

Staples

(5.4%)

43,578

Dollar

Tree,

Inc.

4,546,928

44,103

Snack

Foods

Corporation

7,440,176

51,148

J.M.

Smucker

Company

6,032,907

51,086

Lamb

Weston

Holdings,

Inc.

3,066,182

103,230

Sysco

Corporation

7,912,579

Total

28,998,772

Energy

(7.4%)

90,095

Chesapeake

Energy

Corporation

6,876,951

314,397

Coterra

Energy,

Inc.

8,111,443

172,766

Devon

Energy

Corporation

8,125,185

228,765

Enterprise

Products

Partners,

6,602,158

69,347

Helmerich

Payne,

Inc.

2,803,006

14,901

Marathon

Petroleum

Corporation

2,637,775

95,036

Noble

Corporation

plc

4,487,600

Total

39,644,118

Financials

(18.3%)

52,939

Allstate

Corporation

9,058,922

43,545

Capital

One

Financial

Corporation

6,592,713

218,589

Carlyle

Group,

Inc.

10,872,617

126,901

Charles

Schwab

Corporation

8,272,676

84,658

Comerica,

Inc.

4,640,105

144,094

Equitable

Holdings,

Inc.

6,283,939

45,996

M&T

Bank

Corporation

7,919,131

105,018

Selective

Insurance

Group,

Inc.

9,485,226

133,053

Texas

Capital

Bancshares,

Inc.

8,794,803

274,412

U.S.

Bancorp

12,315,611

71,649

Voya

Financial,

Inc.

5,211,032

76,487

Wintrust

Financial

Corporation

8,275,893

Total

97,722,668

Health

Care

(9.4%)

326,205

Avantor,

Inc.

8,725,984

203,583

Baxter

International,

Inc.

7,292,343

27,683

Humana,

Inc.

10,010,450

52,067

Johnson

8,218,776

31,474

Labcorp

Holdings,

Inc.

6,780,758

52,317

Sanofi

ADR

2,710,544

29,437

Universal

Health

Services,

Inc.

6,292,453

Total

50,031,308

Industrials

(16.6%)

56,154

AGCO

Corporation

5,302,061

149,372

Barnes

Group,

Inc.

6,025,666

Common

Stock

(97.7%)

Value

Industrials

(16.6%)

continued

35,536

Booz

Allen

Hamilton

Holding

Corporation

5,092,664

11,698

Carlisle

Companies,

Inc.

4,896,549

204,142

Flowserve

Corporation

10,319,378

17,733

General

Dynamics

Corporation

5,297,024

159,150

Hexcel

Corporation

10,537,322

37,315

Hunt

Transport

Services,

Inc.

6,461,092

122,146

MSC

Industrial

Direct

Company,

Inc.

10,864,887

121,003

Robert

Half,

Inc.

7,767,183

144,727

United

Airlines

Holdings,

Inc.

6,573,500

241,066

Werner

Enterprises,

Inc.

9,447,377

Total

88,584,703

Information

Technology

(7.7%)

87,595

Coherent

Corporation

6,103,619

45,148

CommVault

Systems,

Inc.

6,900,872

50,440

Jabil,

Inc.

5,683,075

274,209

Knowles

Corporation

5,009,798

73,448

MKS

Instruments,

Inc.

9,247,103

24,009

PTC,

Inc.

4,270,001

62,579

Western

Digital

Corporation

4,195,922

Total

41,410,390

Materials

(7.9%)

124,229

Alcoa

Corporation

4,104,526

130,974

Axalta

Coating

Systems,

Ltd.

4,669,223

76,497

Berry

Plastics

Group,

Inc.

5,027,383

60,099

Celanese

Corporation

8,482,974

95,338

Industries

Holdings,

Inc.

7,282,870

32,665

Nucor

Corporation

5,322,435

80,831

West

Fraser

Timber

Company,

Ltd.

7,168,901

Total

42,058,312

Real

Estate

(6.5%)

25,956

AvalonBay

Communities,

Inc.

5,318,903

41,673

CBRE

Group,

Inc.

4,696,964

70,066

Crown

Castle,

Inc.

7,712,865

610,724

Healthcare

Realty

Trust,

Inc.

10,803,708

40,487

Simon

Property

Group,

Inc.

6,212,325

Total

34,744,765

Utilities

(5.8%)

124,713

Alliant

Energy

Corporation

6,941,526

24,982

Constellation

Energy

Corporation

4,741,584

57,868

DTE

Energy

Company

6,974,830

293,325

NiSource,

Inc.

9,166,406

42,164

Vistra

Energy

Corporation

3,340,232

Total

31,164,578

Total

Common

Stock

(cost

$459,969,632)

522,612,342

Short-Term

Investments

(

2.2%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

1,165,515

5.600%

11,655,150

Total

Short-Term

Investments

(cost

$11,655,150)

11,655,150

Total

Investments

(cost

$471,624,782)

99.9%

$534,267,492

Other

Assets

and

Liabilities,

Net

0.1%

704,762

Total

Net

Assets

100.0%

$534,972,254

Mid

Cap

Value

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Non-income

producing

security.

Definitions:

ADR

American

Depositary

Receipt,

which

are

certificates

for

underlying

foreign

security's

held

issuing

U.S.

depository

bank.

plc

Public

Limited

Company

Fair

Valuation

Measurements

The

following

table

summary

the

inputs

used,

July

31,

2024,

valuing

Mid

Cap

Value

Fund's

assets

carried

fair

value.

Investments

Securities

Total

Level

Common

Stock

Communications

Services

14,511,639

–

Consumer

Discretionary

53,741,089

49,065,941

4,675,148

–

Consumer

Staples

28,998,772

–

Energy

39,644,118

–

Financials

97,722,668

–

Health

Care

50,031,308

–

Industrials

88,584,703

–

Information

Technology

41,410,390

–

Materials

42,058,312

–

Real

Estate

34,744,765

–

Utilities

31,164,578

–

Subtotal

Investments

Securities

$522,612,342

$517,937,194

$4,675,148

$–

Other

Investments *

Total

Affiliated

Short-Term

Investments

11,655,150

Subtotal

Other

Investments

$11,655,150

Total

Investments

Value

$534,267,492

Certain

investments

are

measured

fair

value

using

net

asset

value

per

that

not

publicly

available

(practical

expedient). According

disclosure

requirements

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

the

fair

value

hierarchy. The

fair

value

amounts

presented

the

table

above

are

intended

permit

reconciliation

the

fair

value

hierarchy

the

amounts

presented

the

Statement

Assets

and

Liabilities.

Investment

Affiliates

Affiliated

issuers,

defined

under

the

Investment

Company

Act

1940,

include

those

which

the

Fund's

holdings

issuer

represent

the

outstanding

voting

securities

issuer,

any

affiliated

mutual

fund,

company

which

under

common

ownership

control

with

the

Fund.

The

Fund

owns

Thrivent

Core

Short-Term

Reserve

Fund,

series

Thrivent

Core

Funds,

primarily

serve

cash

sweep

vehicle

for

the

Fund.

Thrivent

Core

Funds

are

established

solely

for

investment

Thrivent

entities.

summary

transactions

(in

thousands;

values

shown

zero

are

less

than

$500)

for

the

fiscal

year

date,

Mid

Cap

Value

Fund,

follows:

Fund

Value

10/31/2023

Gross

Purchases

Gross

Sales

Value

7/31/2024

Held

7/31/2024

Net

Assets

7/31/2024

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.600%

$9,131

$64,077

$61,553

$11,655

1,166

2.2%

Total

Affiliated

Short-Term

Investments

9,131

11,655

2.2

Total

Value

$9,131

$11,655

Fund

Net

Realized

Gain/(Loss)

Change

Unrealized

Appreciation/

(Depreciation)

Distributions

Realized

Capital

Gains

Income

Earned

11/1/2023

7/31/2024

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.600%

$–

$398

Total

Income/Non

Cash

Income

from

Affiliated

Investments

$398

Total

$–

Short-Term

Reserve

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Principal

Amount

Basic

Materials

(

3.8%

)

Value

BASF

25,000,000

5.470% ,8/16/2024

24,940,555

25,000,000

5.450% ,9/26/2024

24,786,685

25,000,000

5.450% ,9/27/2024

24,782,930

25,000,000

5.420% ,9/30/2024

24,771,688

Glencore

Funding,

LLC

25,000,000

5.570% ,9/4/2024

b,c

24,862,228

Nutrien,

Ltd.

15,000,000

5.540% ,8/2/2024

14,995,448

25,000,000

5.510% ,9/12/2024

24,835,127

PPG

Industries,

Inc.

16,750,000

5.400% ,8/2/2024

16,744,954

9,128,000

5.450% ,8/9/2024

9,115,597

Sherwin-Williams

Company

8,343,000

4.050% ,8/8/2024

8,339,908

Total

198,175,120

Principal

Amount

Capital

Goods

(

2.1%

)

Value

Avery

Dennison

Corporation

11,425,000

0.850% ,8/15/2024

11,401,698

Caterpillar

Financial

Services

Corporation

8,963,000

5.634%

(SOFRRATE

0.270%),9/13/2024

8,963,813

25,000,000

5.815%

(SOFRRATE

0.450%),11/14/2024

25,021,315

20,000,000

5.813%

(SOFRRATE

0.450%),1/6/2025

20,020,572

John

Deere

Capital

Corporation

17,083,000

5.563%

(SOFRRATE

0.200%),10/11/2024

17,085,887

Parker-Hannifin

Corporation

25,000,000

5.500% ,9/10/2024

24,843,896

Total

107,337,181

Principal

Amount

Communications

Services

(

0.5%

)

Value

AT&T,

Inc.

25,000,000

5.500% ,9/6/2024

24,860,856

Total

24,860,856

Principal

Amount

Consumer

Cyclical

(

14.2%

)

Value

American

Honda

Finance

Corporation

25,000,000

5.500% ,8/7/2024

24,973,702

15,000,000

5.520% ,8/26/2024

14,940,660

10,000,000

5.560% ,9/11/2024

9,935,810

15,000,000

5.520% ,9/12/2024

14,901,434

25,000,000

5.510% ,10/10/2024

24,728,458

BMW

Capital,

LLC

14,365,000

5.744%

(SOFRINDX

0.380%),8/12/2024

b,d

14,365,393

4,632,000

6.205%

(SOFRINDX

0.840%),4/1/2025

b,d

4,650,180

ERAC

USA

Finance,

LLC

30,000,000

5.400% ,8/1/2024

b,c

29,995,482

Hyundai

Capital

America

25,000,000

5.520% ,8/9/2024

b,c

24,966,025

25,000,000

5.530% ,8/13/2024

b,c

24,950,817

25,000,000

5.480% ,8/22/2024

b,c

24,916,339

25,000,000

5.490% ,8/28/2024

b,c

24,893,172

25,000,000

5.470% ,9/13/2024

b,c

24,831,945

Principal

Amount

Consumer

Cyclical

(14.2%)

Value

Marriott

International,

Inc./MD

5,000,000

5.510% ,8/8/2024

4,993,872

15,000,000

5.500% ,8/14/2024

14,967,634

12,250,000

5.500% ,8/21/2024

12,210,176

9,250,000

5.500% ,8/26/2024

9,213,040

13,650,000

5.490% ,8/30/2024

13,587,438

Mercedes-Benz

Finance

North

America,

LLC

15,000,000

5.360% ,9/19/2024

b,c

14,888,542

13,900,000

5.500% ,11/27/2024

13,895,096

14,596,000

6.295%

(SOFRRATE

0.930%),3/30/2025

b,d

14,664,604

O'Reilly

Automotive,

Inc.

11,000,000

5.450% ,8/1/2024

10,998,343

PACCAR

Financial

Corporation

6,225,000

0.500% ,8/9/2024

6,217,989

Toyota

Credit

Canada,

Inc.

25,000,000

5.310% ,9/12/2024

24,838,282

Toyota

Credit

Puerto

Rico

Corporation

10,000,000

5.330% ,8/14/2024

9,979,365

20,000,000

5.340% ,9/16/2024

19,861,028

25,000,000

5.300% ,9/17/2024

24,822,467

15,000,000

5.420% ,11/5/2024

14,783,431

10,000,000

5.330% ,12/5/2024

9,812,822

Toyota

Finance

Australia,

Ltd.

30,000,000

5.400% ,11/7/2024

29,563,674

Toyota

Motor

Credit

Corporation

20,000,000

5.850%

(SOFRRATE

0.520%),8/22/2024

20,004,237

6,909,000

5.654%

(SOFRRATE

0.290%),9/13/2024

6,909,843

Volkswagen

Group

America

Finance,

LLC

12,000,000

5.480% ,8/8/2024

b,c

11,985,013

25,000,000

5.500% ,8/16/2024

b,c

24,937,556

25,000,000

5.500% ,8/19/2024

b,c

24,925,847

25,000,000

5.500% ,8/23/2024

b,c

24,910,236

Credit,

Inc.

11,400,000

5.500% ,8/14/2024

b,c

11,375,834

17,440,000

5.500% ,8/19/2024

b,c

17,389,682

22,000,000

5.550% ,8/22/2024

b,c

21,926,378

25,000,000

5.570% ,8/26/2024

b,c

24,900,911

25,000,000

5.570% ,8/28/2024

b,c

24,893,172

Total

726,505,929

Principal

Amount

Consumer

Non-Cyclical

(

4.7%

)

Value

Archer-Daniels-Midland

Company

25,000,000

5.360% ,8/13/2024

24,950,798

AstraZeneca

plc

25,000,000

5.380% ,9/9/2024

24,847,778

25,000,000

5.370% ,10/7/2024

24,741,600

25,000,000

5.360% ,10/10/2024

24,730,348

BAT

Capital

Corporation

9,615,000

2.789% ,9/6/2024

9,585,849

City

Hope

20,000,000

5.410% ,10/3/2024

19,793,730

PepsiCo,

Inc.

5,000,000

5.764%

(SOFRINDX

0.400%),11/12/2024

5,003,488

UnitedHealth

Group,

Inc.

25,000,000

5.400% ,8/23/2024

24,914,708

7,875,000

5.420% ,9/10/2024

7,827,107

25,000,000

5.420% ,9/12/2024

24,840,542

Short-Term

Reserve

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Principal

Amount

Consumer

Non-Cyclical

(4.7%)

Value

20,000,000

5.340% ,9/26/2024

19,830,647

11,000,000

5.400% ,9/27/2024

10,905,210

20,000,000

5.340% ,9/30/2024

19,818,728

Total

241,790,533

Principal

Amount

Energy

(

4.6%

)

Value

Capital

Markets

plc

25,000,000

5.380% ,8/8/2024

b,c

24,970,056

Exxon

Mobil

Corporation

4,030,000

2.019% ,8/16/2024

4,023,915

TotalEnergies

Capital

15,000,000

5.360% ,9/11/2024

b,c

14,906,550

25,000,000

5.390% ,9/26/2024

b,c

24,788,625

27,725,000

5.387% ,9/30/2024

b,c

27,474,182

TransCanada

PipeLines,

Ltd.

15,000,000

5.520% ,8/5/2024

14,988,694

10,000,000

5.510% ,8/6/2024

9,990,952

46,250,000

5.480% ,8/7/2024

46,201,168

25,000,000

5.480% ,8/9/2024

24,966,025

18,500,000

5.510% ,8/27/2024

18,423,812

11,200,000

5.520% ,9/13/2024

11,124,711

11,000,000

5.520% ,9/24/2024

10,907,569

5,000,000

1.000% ,10/12/2024

4,950,884

Total

237,717,143

Principal

Amount

Financials

(

47.2%

)

Value

ANZ

New

Zealand

International,

Ltd./London

16,005,000

5.965%

(SOFRRATE

0.600%),2/18/2025

b,d

16,026,890

Bank

America

9,510,000

5.920% ,8/9/2024

9,510,622

Bank

Montreal

5,246,000

4.250% ,9/14/2024

5,235,617

Bank

New

York

Mellon

Corporation

6,665,000

2.100% ,10/24/2024

6,613,144

4,000,000

5.980%

(SOFRRATE

0.620%),4/25/2025

4,009,438

Bank

New

Zealand

5,475,000

2.000% ,2/21/2025

5,373,004

Barclays

Bank

plc

25,000,000

5.360% ,11/22/2024

b,c

24,578,897

1,000,000

5.350% ,1/16/2025

b,c

975,453

Barton

Capital

25,000,000

5.315% ,8/1/2024

b,c

24,996,297

25,000,000

5.400% ,10/23/2024

b,c

24,689,200

BB&T

Corporation

19,012,000

2.500% ,8/1/2024

19,012,000

BNP

Paribas

SA/New

York,

15,000,000

5.410% ,12/18/2024

15,003,022

BPCE

25,000,000

5.029% ,1/15/2025

24,933,469

Cabot

Trail

Funding,

LLC

10,000,000

5.340% ,8/8/2024

9,988,144

9,000,000

5.380% ,9/9/2024

8,945,867

6,000,000

5.310% ,9/16/2024

5,957,588

25,000,000

5.360% ,11/26/2024

24,570,229

Caisse

des

Depots

Consignations

21,150,000

5.320% ,10/9/2024

20,931,626

Principal

Amount

Financials

(47.2%)

Value

Chariot

Funding,

LLC

25,000,000

5.380% ,8/22/2024

24,918,121

35,781,000

5.383% ,8/27/2024

35,636,999

10,000,000

5.350% ,10/21/2024

9,878,230

25,000,000

5.650%

(SOFRRATE

0.320%),11/1/2024

b,d

25,001,645

Charta,

LLC

25,000,000

5.350% ,12/13/2024

b,c

24,510,156

Ciesco,

LLC

25,000,000

5.370% ,11/18/2024

b,c

24,596,412

25,000,000

5.350% ,11/27/2024

b,c

24,565,126

Citibank

25,000,000

5.930%

(SOFRRATE

0.600%),10/28/2024

25,025,792

25,000,000

5.710%

(SOFRRATE

0.380%),1/10/2025

25,021,246

23,383,000

6.170%

(SOFRRATE

0.805%),9/29/2025

23,480,180

Citigroup

Global

Markets,

Inc.

10,000,000

5.250% ,9/23/2024

9,919,210

Cooperatieve

Rabobank

UA/NY

20,070,000

3.875% ,8/22/2024

20,048,753

8,000,000

1.375% ,1/10/2025

7,858,132

15,420,000

5.743%

(SOFRINDX

0.380%),1/10/2025

15,433,001

CRC

Funding,

LLC

25,000,000

5.350% ,12/13/2024

b,c

24,510,156

Credit

Agricole

SA/London

5,750,000

3.250% ,10/4/2024

5,724,607

Dealers

Capital

Access

Trust,

LLC

15,000,000

5.370% ,8/12/2024

14,973,200

15,000,000

5.380% ,9/9/2024

14,910,667

13,800,000

5.380% ,9/30/2024

13,674,689

Erste

Abwicklungsanstalt

25,000,000

5.335% ,8/5/2024

24,981,547

12,000,000

5.320% ,9/24/2024

11,900,328

Fairway

Finance

Company,

LLC

20,000,000

5.330% ,8/26/2024

b,c

19,922,350

25,000,000

5.300% ,9/20/2024

b,c

24,809,494

20,000,000

5.370% ,10/21/2024

b,c

19,756,369

FMS

Wertmanagement

15,000,000

5.335% ,8/1/2024

14,997,811

Goldman

Sachs

Group,

Inc.

13,797,000

5.870%

(SOFRRATE

0.505%),9/10/2024

13,797,510

10,014,000

5.846%

(SOFRRATE

0.486%),10/21/2024

10,016,743

GTA

Funding,

LLC

15,000,000

5.330% ,8/20/2024

14,955,361

23,711,000

5.350% ,11/19/2024

23,323,888

ING

Funding,

LLC

25,000,000

5.300% ,9/11/2024

b,c

24,843,783

Morgan

Securities,

LLC

25,000,000

5.720%

(SOFRRATE

0.390%),4/10/2025

b,d

25,011,369

Jupiter

Securitization

Company,

LLC

25,000,000

5.360% ,10/21/2024

b,c

24,696,030

25,000,000

5.360% ,10/22/2024

b,c

24,692,381

25,000,000

5.630%

(SOFRRATE

0.300%),11/27/2024

b,c,d

25,000,996

25,000,000

5.650%

(SOFRRATE

0.320%),3/5/2025

b,c,d

25,001,933

Liberty

Street

Funding,

LLC

25,000,000

5.310% ,9/18/2024

b,c

24,817,577

Short-Term

Reserve

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Principal

Amount

Financials

(47.2%)

Value

25,000,000

5.320% ,9/30/2024

b,c

24,773,396

Lloyds

Bank

plc

10,000,000

5.280% ,8/22/2024

9,967,428

25,000,000

5.320% ,12/13/2024

24,513,203

LMA-Americas,

LLC

25,250,000

5.420% ,11/4/2024

b,c

24,892,056

Macquarie

Bank,

Ltd.

22,250,000

5.310% ,9/16/2024

22,093,641

25,000,000

5.390% ,12/6/2024

24,528,444

MetLife

Short

Term

Funding,

LLC

20,000,000

5.320% ,10/28/2024

19,743,251

Metropolitan

Life

Global

Funding

10,000,000

0.700% ,9/27/2024

9,922,893

19,705,000

5.665%

(SOFRRATE

0.300%),9/27/2024

b,d

19,709,516

Mid-America

Apartments,

25,000,000

5.490% ,8/19/2024

24,927,936

Mizuho

Markets

Cayman,

25,000,000

5.561%

(SOFRRATE

0.210%),11/22/2024

b,d

25,000,807

25,000,000

5.802%

(SOFRRATE

0.450%),8/12/2025

25,011,999

Morgan

Stanley

Bank

8,173,000

6.141%

(SOFRRATE

0.780%),7/16/2025

8,207,245

National

Australia

Bank,

Ltd.

11,195,000

5.743%

(SOFRRATE

0.380%),1/12/2025

b,d

11,202,669

National

Bank

Canada

16,975,000

0.750% ,8/6/2024

16,963,175

Nederlandse

Waterschapsbank

25,000,000

5.340% ,10/3/2024

24,765,570

New

York

Life

Global

Funding

5,500,000

0.600% ,8/27/2024

5,480,174

12,073,000

0.900% ,10/29/2024

11,939,072

New

York

Life

Short

Term

Funding,

LLC

15,000,000

5.370% ,9/19/2024

14,888,958

15,000,000

5.340% ,10/23/2024

14,814,290

Nordea

Bank

Abp/New

York

25,000,000

5.530%

(SOFRRATE

0.200%),2/7/2025

25,002,388

Norfina,

Ltd.

25,000,000

5.340% ,8/12/2024

24,955,333

5,210,000

5.360% ,10/10/2024

5,155,178

16,500,000

5.400% ,11/6/2024

16,262,379

15,000,000

5.370% ,1/8/2025

14,656,064

25,000,000

5.340% ,1/13/2025

24,410,700

Old

Line

Funding,

LLC

25,000,000

5.360% ,11/15/2024

b,c

24,607,840

Pacific

Life

Global

Funding

10,150,000

6.224%

(SOFRINDX

0.860%),6/16/2025

b,d

10,196,728

Pacific

Life

Short

Term

Funding,

LLC

2,379,000

5.350% ,9/20/2024

2,360,993

2,300,000

5.350% ,10/25/2024

2,270,803

PNC

Bank

6,900,000

2.500% ,8/27/2024

6,883,819

25,000,000

2.950% ,2/23/2025

24,649,419

Pricoa

Global

Funding

5,462,000

2.400% ,9/23/2024

5,436,310

Principal

Amount

Financials

(47.2%)

Value

Pricoa

Short

Term

Funding,

LLC

25,000,000

5.930%

(SOFRRATE

0.600%),10/7/2024

b,d

25,020,954

25,000,000

5.730%

(SOFRRATE

0.400%),5/5/2025

b,d

25,011,102

Protective

Life

Global

Funding

6,300,000

6.414%

(SOFRRATE

1.050%),12/11/2024

b,d

6,318,379

Pure

Grove

Funding

25,000,000

5.300% ,8/14/2024

b,c

24,947,998

Realty

Income

Corporation

54,690,000

5.450% ,8/1/2024

54,681,764

Royal

Bank

Canada

11,970,000

5.703%

(SOFRINDX

0.340%),10/7/2024

11,972,735

12,602,000

2.250% ,11/1/2024

12,498,681

21,553,000

6.202%

(SOFRINDX

0.840%),4/14/2025

21,635,221

Royal

Bank

Canada/New

York,

20,000,000

5.890%

(SOFRRATE

0.560%),11/1/2024

b,d

20,022,516

Salisbury

Receivables

Company,

LLC

25,000,000

5.265% ,12/3/2024

b,c

24,547,526

25,000,000

5.350% ,12/5/2024

b,c

24,540,728

Simon

Property

Group,

5,033,000

2.000% ,9/13/2024

5,010,984

Skandinaviska

Enskilda

Banken

25,000,000

5.255% ,9/12/2024

24,843,012

25,000,000

5.300% ,9/20/2024

24,813,546

21,872,000

5.300% ,10/8/2024

21,651,012

25,000,000

5.580%

(SOFRRATE

0.250%),3/26/2025

b,d

24,996,210

Sumitomo

Mitsui

Bank,

Ltd./

New

York

25,000,000

5.500%

(SOFRRATE

0.170%),8/7/2024

25,000,341

8,985,000

5.460% ,9/12/2024

8,985,414

Sumitomo

Mitsui

Trust

Bank,

Ltd.

14,935,000

5.804%

(SOFRRATE

0.440%),9/16/2024

b,d

14,938,883

Svenska

Handelsbanken/New

York,

20,000,000

5.550%

(SOFRRATE

0.220%),10/28/2024

20,007,259

Swedbank

25,000,000

5.360% ,10/9/2024

24,744,063

15,000,000

5.360% ,10/15/2024

14,833,427

Thunder

Bay

Funding,

LLC

25,000,000

5.340% ,11/25/2024

b,c

24,572,706

25,000,000

5.570%

(SOFRRATE

0.240%),2/7/2025

b,c,d

25,000,000

Toronto-Dominion

Bank

27,055,000

0.700% ,9/10/2024

26,908,442

20,837,000

5.715%

(SOFRRATE

0.350%),9/10/2024

20,839,813

28,870,000

4.285% ,9/13/2024

28,822,038

25,000,000

5.710%

(SOFRRATE

0.380%),1/7/2025

b,d

25,019,600

Toronto-Dominion

Bank/NY

10,000,000

5.730%

(FEDL

0.400%),8/22/2025

9,999,813

U.S.

Bank

NA/Cincinnati,

5,000,000

2.800% ,1/27/2025

4,936,736

Short-Term

Reserve

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Principal

Amount

Financials

(47.2%)

Value

UBS

AG/London

24,057,000

5.814%

(SOFRRATE

0.450%),8/9/2024

b,d

24,057,938

UBS

AG/Stamford,

20,268,000

3.625% ,9/9/2024

20,222,513

25,202,000

7.950% ,1/9/2025

25,464,391

23,378,000

3.700% ,2/21/2025

23,154,861

UDR,

Inc.

25,000,000

5.480% ,8/6/2024

b,c

24,977,381

25,000,000

5.480% ,8/13/2024

b,c

24,950,817

Victory

Receivables

Corporation

25,000,000

5.370% ,10/25/2024

b,c

24,681,442

25,000,000

5.285% ,11/1/2024

b,c

24,656,094

Wells

Fargo

Company

5,000,000

3.300% ,9/9/2024

4,985,924

Wells

Fargo

Bank

10,000,000

5.930%

(SOFRRATE

0.600%),9/12/2024

10,006,027

15,000,000

5.960%

(SOFRRATE

0.630%),9/16/2024

15,010,626

10,000,000

5.890%

(SOFRRATE

0.560%),10/25/2024

10,011,110

15,000,000

5.930%

(SOFRRATE

0.600%),11/7/2024

15,019,899

Westpac

Banking

Corporation

21,790,000

5.665%

(SOFRRATE

0.300%),11/18/2024

21,793,269

Total

2,419,869,171

Principal

Amount

Foreign

(

1.9%

)

Value

Caisse

d'Amortissement

Dette

Sociale

25,000,000

5.340% ,9/3/2024

24,874,861

20,000,000

5.310% ,9/12/2024

19,873,389

1,875,000

5.340% ,10/15/2024

1,853,897

25,000,000

5.320% ,12/13/2024

24,510,390

25,000,000

5.310% ,12/20/2024

24,486,039

Total

95,598,576

Principal

Amount

Technology

(

1.9%

)

Value

Cisco

Systems,

Inc.

24,000,000

5.310% ,10/25/2024

23,697,051

8,896,000

5.310% ,10/30/2024

8,777,316

25,000,000

5.320% ,10/31/2024

24,662,939

Intel

Corporation

15,000,000

5.410% ,8/1/2024

14,997,741

25,000,000

5.420% ,8/2/2024

24,992,468

Total

97,127,515

Principal

Amount

Transportation

(

2.0%

)

Value

Canadian

National

Railway

Company

1,590,000

5.410% ,8/9/2024

b,c

1,587,854

25,000,000

5.450% ,8/13/2024

b,c

24,951,250

17,315,000

5.410% ,8/19/2024

b,c

17,265,652

18,000,000

5.440% ,8/20/2024

b,c

17,946,000

19,275,000

5.447% ,8/29/2024

b,c

19,191,292

16,850,000

5.440% ,8/30/2024

b,c

16,774,315

Ryder

System,

Inc.

7,000,000

5.490% ,8/5/2024

6,994,724

Total

104,711,087

Principal

Amount

U.S.

Government

Agencies

(

6.6%

)

Value

Federal

Agricultural

Mortgage

Corporation

45,000,000

5.530%

(SOFRRATE

0.200%),8/7/2025

45,070,795

Federal

Farm

Credit

Bank

11,000,000

5.480%

(SOFRRATE

0.150%),1/3/2025

11,008,020

15,000,000

5.430%

(FEDL

0.100%),1/24/2025

15,006,225

50,000,000

5.480%

(FEDL

0.150%),2/3/2025

50,034,977

5,000,000

5.490%

(SOFRRATE

0.160%),4/10/2025

5,001,531

5,000,000

5.490%

(SOFRRATE

0.160%),5/15/2025

5,002,377

15,000,000

5.370%

(SOFRRATE

0.040%),7/29/2025

15,008,674

20,000,000

5.420%

(SOFRRATE

0.090%),8/26/2025

20,008,557

10,000,000

5.410%

(SOFRRATE

0.080%),3/4/2026

10,002,302

10,000,000

5.415%

(FEDL

0.085%),5/7/2026

9,994,788

10,000,000

5.450%

(SOFRRATE

0.120%),7/10/2026

9,999,906

Federal

Home

Loan

Bank

20,000,000

5.385%

(SOFRRATE

0.055%),5/15/2025

20,003,035

15,000,000

5.410%

(SOFRRATE

0.080%),6/3/2025

15,005,390

25,000,000

5.420%

(SOFRRATE

0.090%),8/15/2025

25,011,650

20,000,000

5.530%

(SOFRRATE

0.200%),1/7/2026

20,013,354

10,000,000

5.430%

(SOFRRATE

0.100%),4/6/2026

9,999,737

5,000,000

5.445%

(SOFRRATE

0.115%),7/16/2026

4,999,856

Federal

Home

Loan

Mortgage

Corporation

10,000,000

5.420%

(SOFRRATE

0.090%),1/26/2026

10,001,402

Federal

National

Mortgage

Association

6,000,000

5.450%

(SOFRRATE

0.120%),7/29/2026

5,999,950

U.S.

International

Development

Finance

Corporation

9,829,059

5.480%

(T-BILL

FLAT),8/7/2024

9,829,059

10,149,572

5.480%

(T-BILL

FLAT),8/7/2024

10,149,572

6,193,800

5.490%

(T-BILL

FLAT),8/7/2024

6,193,800

7,101,539

5.500%

(T-BILL

FLAT),8/7/2024

7,101,539

Total

340,446,496

Principal

Amount

U.S.

Municipals

(

1.7%

)

Value

Idaho

Housing

Finance

Association

12,850,000

5.510% ,9/4/2024

12,850,703

15,000,000

5.480% ,10/1/2024

15,003,288

24,000,000

5.500% ,10/8/2024

24,000,341

Short-Term

Reserve

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Principal

Amount

U.S.

Municipals

(1.7%)

Value

Long

Island

Power

Auth.

5,000,000

5.500% ,9/19/2024

5,000,849

South

Carolina

Public

Service

Auth.

Rev.

25,000,000

5.500% ,8/7/2024

25,000,285

7,500,000

5.450% ,10/15/2024

7,499,925

Total

89,355,391

Principal

Amount

Utilities

(

9.3%

)

Value

Ameren

Corporation

9,100,000

5.500% ,8/14/2024

9,080,709

American

Electric

Power

Company,

Inc.

20,000,000

5.480% ,8/23/2024

19,929,991

Commonwealth

Edison

Company

6,000,000

3.100% ,11/1/2024

6,000,000

Consolidated

Edison

Company

New

York,

Inc.

20,000,000

5.420% ,8/23/2024

19,930,047

25,000,000

5.500% ,8/26/2024

24,901,112

25,000,000

5.510% ,8/27/2024

24,897,294

25,000,000

5.500% ,9/16/2024

24,821,052

25,000,000

5.510% ,9/17/2024

24,817,200

DTE

Electric

Company

21,475,000

5.420% ,8/14/2024

21,429,652

Duke

Energy

Corporation

24,000,000

5.410% ,8/5/2024

23,981,909

24,000,000

5.460% ,8/8/2024

23,971,024

25,000,000

5.460% ,9/10/2024

24,843,403

25,000,000

5.450% ,9/23/2024

24,793,750

Florida

Power

Light

Company

10,000,000

5.340% ,8/29/2024

9,956,339

National

Rural

Utilities

Cooperative

Finance

Corporation

4,745,000

5.691%

(SOFRRATE

0.330%),10/18/2024

4,746,584

NextEra

Energy

Capital

Holdings,

Inc.

25,000,000

5.570% ,8/16/2024

b,c

24,939,365

11,000,000

5.540% ,9/12/2024

b,c

10,927,736

5,750,000

5.510% ,9/20/2024

b,c

5,705,198

24,260,000

5.540% ,9/25/2024

b,c

24,052,442

NiSource,

Inc.

25,000,000

5.440% ,8/7/2024

24,973,604

Public

Service

Electric

and

Gas

Company

5,023,000

3.050% ,11/15/2024

4,982,192

Southern

Company

25,000,000

5.480% ,8/20/2024

24,924,030

25,000,000

5.490% ,8/30/2024

24,885,417

Southern

Company

Gas

Capital

Corporation

25,000,000

5.490% ,8/12/2024

b,c

24,954,239

Union

Electric

Company

18,400,000

5.500% ,8/22/2024

18,338,273

Total

476,782,562

Total

Investments

(cost

$5,160,079,427)

100.5%

$5,160,277,560

Other

Assets

and

Liabilities,

Net

(0.5)%

(27,749,478)

Total

Net

Assets

100.0%

$5,132,528,082

The

interest

rate

shown

reflects

the

yield.

Denotes

securities

sold

under

Rule

144A

the

Securities

Act

1933,

which

exempts

them

from

registration.

These

securities

may

resold

other

dealers

the

program

other

qualified

institutional

buyers.

July

31,

2024,

the

value

these

investments

was

$3,450,832,095

67.2%

total

net

assets.

Denotes

investments

that

benefit

from

credit

enhancement

liquidity

support

provided

third

party

bank,

institution

government.

Denotes

variable

rate

securities.

The

rate

shown

July

31,

2024.

The

rates

certain

variable

rate

securities

are

based

published

reference

rate

and

spread;

these

may

vary

security

and

the

reference

rate

and

spread

are

indicated

their

description. The

rates

other

variable

rate

securities

are

determined

the

issuer

agent

and

are

based

current

market

conditions. These

securities

not

indicate

reference

rate

and

spread

their

description.

Definitions:

Auth.

Authority

plc

Public

Limited

Company

Rev.

Revenue

Reference

Rate

Index:

FEDL

Federal

Funds

Month

Rate

SOFRINDX

Secured

Overnight

Financing

Rate

Compounded

Index

SOFRRATE

Secured

Overnight

Financing

Rate

T-BILL

Treasury

Bill

Rate

Month

Short-Term

Reserve

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Fair

Valuation

Measurements

The

following

table

summary

the

inputs

used,

July

31,

2024,

valuing

Short-Term

Reserve

Fund's

assets

carried

fair

value.

Investments

Securities

Total

Level

Basic

Materials

198,175,120

–

198,175,120

–

Capital

Goods

107,337,181

–

107,337,181

–

Communications

Services

24,860,856

–

24,860,856

–

Consumer

Cyclical

726,505,929

–

726,505,929

–

Consumer

Non-Cyclical

241,790,533

–

241,790,533

–

Energy

237,717,143

–

237,717,143

–

Financials

2,419,869,171

–

2,419,869,171

–

Foreign

95,598,576

–

95,598,576

–

Technology

97,127,515

–

97,127,515

–

Transportation

104,711,087

–

104,711,087

–

U.S.

Government

Agencies

340,446,496

–

340,446,496

–

U.S.

Municipals

89,355,391

–

89,355,391

–

Utilities

476,782,562

–

476,782,562

–

Total

Investments

Value

$5,160,277,560

$–

$5,160,277,560

$–

Small

Cap

Value

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Common

Stock

(

96.8%

)

Value

Consumer

Discretionary

(13.6%)

46,305

Asbury

Automotive

Group,

Inc.

12,466,232

275,812

Cheesecake

Factory,

Inc.

10,726,329

49,303

Grand

Canyon

Education,

Inc.

7,688,803

65,577

Lear

Corporation

8,003,017

65,222

Meritage

Homes

Corporation

13,231,587

56,828

PVH

Corporation

5,795,888

106,978

Signet

Jewelers,

Ltd.

9,000,059

249,887

Six

Flags

Entertainment

Corporation

11,902,118

32,881

Wyndham

Hotels

Resorts,

Inc.

2,489,749

Total

81,303,782

Consumer

Staples

(4.2%)

21,469

Casey's

General

Stores,

Inc.

8,326,537

145,505

Pilgrim's

Pride

Corporation

5,999,171

487,440

Primo

Water

Corporation

10,689,559

Total

25,015,267

Energy

(6.4%)

70,869

Gulfport

Energy

Corporation

10,432,625

407,776

Magnolia

Oil

Gas

Corporation

11,107,818

374,269

NOV,

Inc.

7,792,281

305,510

TechnipFMC

plc

9,012,545

Total

38,345,269

Financials

(25.2%)

211,982

Ally

Financial,

Inc.

9,541,310

184,251

Banner

Corporation

10,911,344

239,841

Cadence

Bank

7,883,574

183,398

Essent

Group,

Ltd.

11,524,730

52,830

Evercore,

Inc.

13,228,104

750,568

F.N.B.

Corporation

11,513,713

606,642

First

Commonwealth

Financial

Corporation

10,968,087

272,823

Heartland

Financial

USA,

Inc.

14,874,310

45,603

Houlihan

Lokey,

Inc.

6,851,851

542,083

Old

National

Bancorp

10,852,502

58,278

RLI

Corporation

8,776,084

149,666

Voya

Financial,

Inc.

10,885,208

162,261

Western

Alliance

Bancorp

13,055,520

93,916

Wintrust

Financial

Corporation

10,161,711

Total

151,028,048

Health

Care

(3.7%)

229,550

Enovis

Corporation

10,935,762

153,849

Globus

Medical,

Inc.

11,070,974

Total

22,006,736

Industrials

(19.3%)

128,049

AAR

Corporation

8,271,965

233,528

Air

Lease

Corporation

11,587,659

191,416

Barnes

Group,

Inc.

7,721,721

782,303

Dun

Bradstreet

Holdings,

Inc.

8,511,457

210,387

Fluor

Corporation

10,119,615

588,933

Gates

Industrial

Corporation

plc

10,948,265

48,304

Herc

Holdings,

Inc.

7,527,695

152,540

Korn

Ferry

11,245,249

571,233

Masterbrand,

Inc.

10,310,756

40,931

Moog,

Inc.

8,026,569

496,277

Schneider

National,

Inc.

13,354,814

89,808

Timken

Company

7,808,806

Total

115,434,571

Common

Stock

(96.8%)

Value

Information

Technology

(9.1%)

127,470

Bel

Fuse,

Inc.

9,467,197

106,066

Celestica,

Inc.

5,562,101

173,899

Ciena

Corporation

9,171,433

87,729

MKS

Instruments,

Inc.

11,045,081

77,182

Plexus

Corporation

9,892,417

480,090

TTM

Technologies,

Inc.

9,304,144

Total

54,442,373

Materials

(6.4%)

190,575

Greif,

Inc.

12,707,541

147,887

Ingevity

Corporation

6,786,534

285,815

Summit

Materials,

Inc.

11,941,351

424,414

Tronox

Holdings

plc

6,858,530

Total

38,293,956

Real

Estate

(5.8%)

97,810

Agree

Realty

Corporation

6,745,956

1,085,377

Cushman

and

Wakefield

plc

14,229,292

303,824

Independence

Realty

Trust,

Inc.

5,666,318

348,028

Plymouth

Industrial

REIT,

Inc.

8,324,830

Total

34,966,396

Utilities

(3.1%)

159,983

Black

Hills

Corporation

9,446,996

143,644

Spire,

Inc.

9,565,254

Total

19,012,250

Total

Common

Stock

(cost

$458,554,034)

579,848,648

Short-Term

Investments

(

3.2%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

1,888,115

5.600%

18,881,154

Total

Short-Term

Investments

(cost

$18,881,154)

18,881,154

Total

Investments

(cost

$477,435,188)

100.0%

$598,729,802

Other

Assets

and

Liabilities,

Net

<0.1%

127,501

Total

Net

Assets

100.0%

$598,857,303

Non-income

producing

security.

Definitions:

plc

Public

Limited

Company

REIT

Real

Estate

Investment

Trust

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Small

Cap

Value

Fund

Schedule

Investments

July

31,

2024

(unaudited)

The

accompanying

Notes

Schedule

Investments

are

integral

part

this

schedule.

Fair

Valuation

Measurements

The

following

table

summary

the

inputs

used,

July

31,

2024,

valuing

Small

Cap

Value

Fund's

assets

carried

fair

value.

Investments

Securities

Total

Level

Common

Stock

Consumer

Discretionary

81,303,782

–

Consumer

Staples

25,015,267

–

Energy

38,345,269

–

Financials

151,028,048

–

Health

Care

22,006,736

–

Industrials

115,434,571

–

Information

Technology

54,442,373

–

Materials

38,293,956

–

Real

Estate

34,966,396

–

Utilities

19,012,250

–

Subtotal

Investments

Securities

$579,848,648

$–

Other

Investments *

Total

Affiliated

Short-Term

Investments

18,881,154

Subtotal

Other

Investments

$18,881,154

Total

Investments

Value

$598,729,802

Certain

investments

are

measured

fair

value

using

net

asset

value

per

that

not

publicly

available

(practical

expedient). According

disclosure

requirements

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

the

fair

value

hierarchy. The

fair

value

amounts

presented

the

table

above

are

intended

permit

reconciliation

the

fair

value

hierarchy

the

amounts

presented

the

Statement

Assets

and

Liabilities.

Investment

Affiliates

Affiliated

issuers,

defined

under

the

Investment

Company

Act

1940,

include

those

which

the

Fund's

holdings

issuer

represent

the

outstanding

voting

securities

issuer,

any

affiliated

mutual

fund,

company

which

under

common

ownership

control

with

the

Fund.

The

Fund

owns

Thrivent

Core

Short-Term

Reserve

Fund,

series

Thrivent

Core

Funds,

primarily

serve

cash

sweep

vehicle

for

the

Fund.

Thrivent

Core

Funds

are

established

solely

for

investment

Thrivent

entities.

summary

transactions

(in

thousands;

values

shown

zero

are

less

than

$500)

for

the

fiscal

year

date,

Small

Cap

Value

Fund,

follows:

Fund

Value

10/31/2023

Gross

Purchases

Gross

Sales

Value

7/31/2024

Held

7/31/2024

Net

Assets

7/31/2024

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.600%

$13,034

$95,871

$90,024

$18,881

1,888

3.2%

Total

Affiliated

Short-Term

Investments

13,034

18,881

3.2

Total

Value

$13,034

$18,881

Fund

Net

Realized

Gain/(Loss)

Change

Unrealized

Appreciation/

(Depreciation)

Distributions

Realized

Capital

Gains

Income

Earned

11/1/2023

7/31/2024

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.600%

$–

$637

Total

Income/Non

Cash

Income

from

Affiliated

Investments

$637

Total

$–

Notes

Schedule

Investments

July

31,

2024

(unaudited)

SIGNIFICANT

ACCOUNTING

POLICIES

Valuation

Investments

—

The

Funds

record

their

investments

fair

value

using

market

quotations

when

they

are

readily

available

pursuant

Rule

2a-5.

The

Funds'

investments

are

recorded

fair

value

determined

good

faith

when

market

quotations

are

not

readily

available.

Securities

traded

U.S.

foreign

securities

exchanges

included

national

market

system

are

valued

the

last

sale

price

the

principal

exchange

the

regular

trading

such

exchange

the

official

closing

price

the

national

market

system. Over-the-counter

securities

and

listed

securities

for

which

price

readily

available

are

valued

the

current

bid

price

considered

best

represent

the

value

that

time.

Security

prices

are

based

quotes

that

are

obtained

from

independent

pricing

service

approved

the

Trust’s

Board

Trustees

(the

“Board”).

The

pricing

service,

determining

values

fixed-income

securities,

takes

into

consideration

such

factors

current

quotations

broker/dealers,

coupon,

maturity,

quality,

type

issue,

trading

characteristics,

and

other

yield

and

risk

factors

deems

relevant

determining

valuations.

Securities

which

cannot

valued

the

approved

pricing

service

are

valued

using

valuations

obtained

from

dealers

that

make

markets

the

securities.

Exchange-listed

options and

futures

contracts

are

valued

the

primary

exchange

settle

price.

Exchange

cleared

swap

agreements are

valued at the

clearinghouse

end

day

price.

Swap

agreements

not

cleared

exchanges will

valued at

the

mid-price

from

the

primary

approved pricing

service.

Forward

foreign

currency

exchange

contracts

are

marked-to-

market

based

upon

foreign

currency

exchange

rates

provided

the

pricing

service.

Investments

open-ended

mutual

funds

are

valued

the

net

asset

value

the

each

business

day.

Thrivent

Money

Market

seeks

maintain

a stable

net

asset

value

$1.00

per

share,

pursuant

procedures

established

the

Board,

and

generally

utilizes

the

amortized

cost

method.

Valuing securities

held

Thrivent

Money

Market

the

basis

amortized

cost

(which

approximates

market

value)

involves

a constant

amortization

premium

accretion

of discount

maturity.

Thrivent

Money

Market

will

not

value

security

amortized

cost,

but

will

instead

make

fair

value

determination

each

security,

determines

that

amortized

cost

not

approximately

the

same

the

fair

value

the

security.

The

Board

has

chosen

the

Funds'

investment

Adviser

the

valuation

designee,

responsible

for daily

valuation

the

Funds'

securities.

The

Adviser

has

formed

Valuation

Committee

(the

“Committee”)

that

responsible

for

overseeing

the

Funds'

valuation

policies

accordance

with

Valuation

Policies

and

Procedures.

The

Committee

meets

monthly

and

as-

needed

basis

review

price

challenges,

price

overrides,

stale

prices,

shadow

prices,

manual

prices,

money

market

pricing,

international

fair

valuation,

and

other

securities

requiring

fair

valuation.

Certain

Funds

may

invest

Private

Equity Funds

("Private

Funds"),

which

are

fair

valued

the

Funds

pursuant

valuation

procedures

designed

the

Committee. Private

Funds

are

typically

valued

amount

equal

the

Net

Asset

Value

(NAV)

fund's

investment

the Private

Fund

when

this

information

readily

available

the

fund.

This

commonly

referred

using

the

NAV

practical

expedient,

which

allows

for

the

estimation

the

fair

value

investment

an investment

company

based

the

NAV

the

investment

company,

calculated

manner

consistent

with

ASC

946.

The

Committee

has

determined

that

for

the

Private

Funds

held

the

Funds,

the

NAV

the

Private

Fund

not

readily

available

for

the

daily

pricing

needs

the

Funds,

the

Committee,

pursuant

the

valuation

procedures,

will

adjust

the

daily

value

the Private

Fund

via

model

utilizing

unobservable

inputs.

The

Committee

monitors

for

significant

events

occurring

prior

the

trading

the

New

York

Stock

Exchange

that

could

have

material

impact

the

value

any

securities

that

are

held

the

Funds.

Examples

such

events

include

trading

halts,

national

news/events,

and

issuer-specific

developments.

the

Committee

decides

that

such

events

warrant

using

fair

value

estimates,

the

Committee

will

take

such

events

into

consideration

determining

the

fair

value

such

securities.

market

quotations

prices

are

not

readily

available

determined

unreliable,

the

securities

will

valued

fair

value

determined

good

faith

pursuant

procedures

adopted

the

Board.

accordance

with

U.S.

Generally

Accepted

Accounting

Principles

("GAAP"),

the

various

inputs

used

determine

the

fair

value

the

Funds’

investments

are

summarized

three

broad

levels. Level

includes

quoted

prices

active

markets

for

identical

securities,

typically

included

this

level

are

U.S.

equity

securities,

futures,

options

and

registered

investment

company

funds. Level

includes

other

significant

observable

inputs

such

quoted

prices

for

similar

securities,

interest

rates,

prepayment

speeds

and

credit

risk,

typically

included

this

level

are

fixed

income

securities,

international

securities,

swaps

and

forward

contracts. Level

includes

significant

unobservable

inputs

such

the

Adviser’s

own

assumptions

and

broker

evaluations

determining

the

fair

value

investments.

The

valuation

levels

are

not

necessarily

indication

the

risk

associated

with

investing

these

securities

other

investments.

Investments

measured

using

net

asset

value

per

practical

expedient

for

fair

value

and

that

are

not

publicly

available

for

sale

are

not

categorized

within

the

fair

value

hierarchy.

Valuation

International

Securities

—

The

Funds

value

certain

foreign

securities

traded

foreign

exchanges

that

prior

the

close of

the

New

York

Stock

Exchange

using

fair

value

pricing

service.

The

fair

value

pricing

service

uses

multi-factor

model

that

may

take

into

account

the

local

close,

relevant

general

and

sector

indices,

currency

fluctuation,

prices

other

securities

(including

ADRs,

New

York

registered

shares,

and

ETFs),

and

futures,

applicable,

determine

price

adjustments

for

each

Notes

Schedule

Investments

July

31,

2024

(unaudited)

security

order

reflect

the

effects

post-closing

events.

The

Board

has

authorized

the

Adviser

make

fair

valuation

determinations

pursuant

policies

approved

the

Board.

Foreign

Denominated

Investments

—

Foreign

denominated

assets

and

currency

contracts

may

involve

risks

than

domestic

transactions

including

currency

risk,

political

and

economic

risk,

regulatory

risk,

and

market

risk.

Certain

Funds

may

also

invest

securities

companies

located

emerging

markets.

Future

economic

political

developments

could

adversely

affect

the

liquidity

value,

both,

such

securities.

Derivative

Financial

Instruments

— Certain

Funds

may

invest

derivatives,

Thrivent Core Funds NPORT-PThrivent Core Mid Cap Value Fund (Jul 2024 report)