Portfolio of investments—May 31, 2024 (unaudited)
Portfolio of investments
Interest rate | Maturity date | Principal | Value | |||
Agency securities: 14.68% | ||||||
FHLB | 5.63 % | 3-14-2036 | $ | 500,000 | $535,669 | |
FNMA%% | 2.00 | 6-15-2054 | 315,000 | 242,964 | ||
FNMA%% | 4.00 | 6-15-2039 | 265,000 | 254,068 | ||
FNMA%% | 5.00 | 6-15-2054 | 650,000 | 625,537 | ||
FNMA%% | 5.50 | 6-15-2054 | 2,950,000 | 2,902,148 | ||
FNMA%% | 6.00 | 6-15-2054 | 1,575,000 | 1,577,163 | ||
FNMA | 6.21 | 8-6-2038 | 95,000 | 109,389 | ||
GNMA%% | 2.00 | 6-15-2054 | 455,000 | 364,669 | ||
GNMA%% | 2.50 | 6-15-2054 | 1,030,000 | 858,446 | ||
GNMA%% | 3.00 | 6-15-2054 | 2,545,000 | 2,198,219 | ||
GNMA%% | 4.00 | 6-15-2054 | 250,000 | 229,793 | ||
GNMA%% | 5.00 | 6-15-2054 | 430,000 | 417,325 | ||
GNMA%% | 5.50 | 6-15-2054 | 1,165,000 | 1,155,593 | ||
GNMA%% | 6.00 | 6-15-2054 | 5,925,000 | 5,961,276 | ||
GNMA%% | 6.50 | 6-15-2054 | 245,000 | 248,688 | ||
Resolution Funding Corp. Principal STRIPS¤ | 0.00 | 4-15-2030 | 1,310,000 | 986,662 | ||
TVA | 3.50 | 12-15-2042 | 360,000 | 293,627 | ||
TVA | 4.88 | 1-15-2048 | 300,000 | 290,732 | ||
Total agency securities (Cost $19,072,435) | 19,251,968 | |||||
Asset-backed securities: 19.35% | ||||||
ACHM Trust Series 2023-HE2 Class A144A±± | 7.50 | 10-25-2038 | 389,087 | 397,276 | ||
Aligned Data Centers Issuer LLC Series 2021-1A Class A2144A | 1.94 | 8-15-2046 | 400,000 | 366,072 | ||
Avis Budget Rental Car Funding AESOP LLC Series 2023-6A Class A144A | 5.81 | 12-20-2029 | 260,000 | 262,696 | ||
BHG Securitization Trust Series 2021-A Class B144A | 2.79 | 11-17-2033 | 625,000 | 570,413 | ||
Blue Bridge Funding LLC Series 2023-1A Class A144A | 7.37 | 11-15-2030 | 81,614 | 81,889 | ||
Blue Bridge Funding LLC Series 2023-1A Class B144A | 9.48 | 11-15-2030 | 100,000 | 99,751 | ||
Bojangles Issuer LLC Series 2020-1A Class A2144A | 3.83 | 10-20-2050 | 1,188,825 | 1,126,275 | ||
Cajun Global LLC Series 2021-1 Class A2144A | 3.93 | 11-20-2051 | 179,450 | 162,534 | ||
Carlyle U.S. CLO Ltd. Series 2017-2A Class A2R (U.S. SOFR 3 Month+1.86%)144A± | 7.19 | 7-20-2031 | 250,000 | 250,000 | ||
CFMT LLC Series 2021-HB7 Class M2144A±± | 2.68 | 10-27-2031 | 250,000 | 238,746 | ||
Cogent IPv4 LLC Series 2024-1A Class A2144A | 7.92 | 5-25-2054 | 340,000 | 344,117 | ||
Cologix Data Centers U.S. Issuer LLC Series 2021-1A Class B144A | 3.79 | 12-26-2051 | 1,350,000 | 1,227,414 | ||
DataBank Issuer LLC Series 2021-1A Class B144A | 2.65 | 2-27-2051 | 250,000 | 227,949 | ||
DataBank Issuer LLC Series 2024-1A Class A2144A | 5.30 | 1-26-2054 | 620,000 | 586,696 | ||
DB Master Finance LLC Series 2021-1A Class A23144A | 2.79 | 11-20-2051 | 297,375 | 243,980 | ||
Driven Brands Funding LLC Series 2021-1A Class A2144A | 2.79 | 10-20-2051 | 1,014,000 | 880,614 | ||
ECMC Group Student Loan Trust Series 2018-1A Class A (30 Day Average U.S. SOFR+0.86%)144A± | 6.19 | 2-27-2068 | 165,562 | 165,114 | ||
FIGRE Trust Series 2023-HE1 Class A144A | 5.85 | 3-25-2053 | 151,434 | 150,640 | ||
FIGRE Trust Series 2023-HE3 Class A144A±± | 6.44 | 11-25-2053 | 503,272 | 507,906 | ||
First National Master Note Trust Series 2024-1 Class A | 5.34 | 5-15-2030 | 840,000 | 839,698 | ||
Five Guys Holdings, Inc. Series 2023-1A Class A2144A | 7.55 | 1-26-2054 | 50,000 | 51,563 | ||
Flexential Issuer Series 2021-1A Class A2144A | 3.25 | 11-27-2051 | 1,265,000 | 1,160,036 | ||
FREED Mortgage Trust Series 2022-HE1 Class B144A | 7.00 | 10-25-2037 | 105,000 | 105,141 |
See accompanying notes to portfolio of investments
Allspring Managed Account CoreBuilder Shares - Series CP | 1
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Asset-backed securities(continued) | ||||||
Golub Capital Partners ABS Funding Series 2024-1A Class A2144A | 6.89 % | 1-25-2034 | $ | 270,000 | $267,113 | |
Gracie Point International Funding Series 2023-1A Class B (90 Day Average U.S. SOFR+2.60%)144A± | 7.95 | 9-1-2026 | 275,000 | 279,377 | ||
Hertz Vehicle Financing LLC Series 2021-1A Class B144A | 1.56 | 12-26-2025 | 395,000 | 387,899 | ||
Home Partners of America Trust Series 2021-1 Class D144A | 2.48 | 9-17-2041 | 408,294 | 339,618 | ||
Madison Park Funding XLVI Ltd. Series 2020-46A Class B1R (U.S. SOFR 3 Month+1.91%)144A± | 7.24 | 10-15-2034 | 500,000 | 501,198 | ||
MF1 Ltd. Series 2021-FL7 Class A (U.S. SOFR 1 Month+1.19%)144A± | 6.51 | 10-16-2036 | 358,183 | 356,168 | ||
MF1 Ltd. Series 2022-FL8 Class C (U.S. SOFR 1 Month+2.20%)144A± | 7.52 | 2-19-2037 | 250,000 | 241,307 | ||
MNR ABS Issuer I LLC♦‡ | 8.12 | 12-15-2038 | 395,839 | 399,243 | ||
NBC Funding LLC Series 2024-1A Class A2144A | 6.75 | 7-30-2054 | 855,000 | 858,890 | ||
Neighborly Issuer LLC Series 2021-1A Class A2144A | 3.58 | 4-30-2051 | 72,750 | 64,804 | ||
Neuberger Berman Loan Advisers CLO 25 Ltd. Series 2017-25A Class BR (U.S. SOFR 3 Month+1.61%)144A± | 6.94 | 10-18-2029 | 250,000 | 250,393 | ||
Oak Street Investment Grade Net Lease Fund Series 2021-1A Class A3144A | 2.80 | 1-20-2051 | 249,583 | 225,634 | ||
Octagon Investment Partners 30 Ltd. Series 2017-1A Class A1R (U.S. SOFR 3 Month+1.26%)144A± | 6.59 | 3-17-2030 | 190,295 | 190,542 | ||
Octane Receivables Trust Series 2023-1A Class A144A | 5.87 | 5-21-2029 | 47,821 | 47,822 | ||
OneMain Financial Issuance Trust Series 2018-2A Class A144A | 3.57 | 3-14-2033 | 36,444 | 36,331 | ||
Oxford Finance Credit Fund III LP Series 2024-A Class A2144A | 6.68 | 1-14-2032 | 325,000 | 323,641 | ||
Pagaya AI Debt Selection Trust Series 2021-HG1 Class A144A | 1.22 | 1-16-2029 | 185,186 | 181,750 | ||
Pagaya AI Debt Selection Trust Series 2023-6 Class B144A | 7.46 | 6-16-2031 | 999,744 | 1,004,276 | ||
PFS Financing Corp. Series 2024-B Class A144A | 4.95 | 2-15-2029 | 335,000 | 331,242 | ||
PRET LLC Series 2024-NPL3 Class A1144A | 7.52 | 4-27-2054 | 465,000 | 465,655 | ||
RCKT Mortgage Trust Series 2023-CES3 Class A1A144A±± | 7.11 | 11-25-2043 | 513,177 | 518,726 | ||
Retained Vantage Data Centers Issuer LLC Series 2023-1A Class A2A144A | 5.00 | 9-15-2048 | 260,000 | 249,828 | ||
Saluda Grade Alternative Mortgage Trust Series 2023-FIG3 Class A144A±± | 7.07 | 8-25-2053 | 1,442,186 | 1,452,133 | ||
SEB Funding LLC Series 2021-1A Class A2144A | 4.97 | 1-30-2052 | 154,613 | 146,910 | ||
Service Experts Issuer LLC Series 2021-1A Class B144A | 3.28 | 2-2-2032 | 330,000 | 284,444 | ||
ServiceMaster Funding LLC Series 2020-1 Class A2II144A | 3.34 | 1-30-2051 | 117,863 | 98,290 | ||
Sesac Finance LLC Series 2024-1 Class A2144A | 6.42 | 1-25-2054 | 448,875 | 445,939 | ||
Taco Bell Funding LLC Series 2021-1A Class A23144A | 2.54 | 8-25-2051 | 505,987 | 411,753 | ||
THL Credit Wind River CLO Ltd. Series 2018-2A Class A2 (U.S. SOFR 3 Month+1.71%)144A± | 7.04 | 7-15-2030 | 409,000 | 409,179 | ||
Towd Point HE Trust Series 2023-1 Class A1A144A | 6.88 | 2-25-2063 | 359,458 | 358,906 | ||
Towd Point Mortgage Trust Series 2024-CES1 Class A2144A±± | 6.44 | 1-25-2064 | 1,370,000 | 1,361,262 | ||
TRTX Issuer Ltd. Series 2022-FL5 Class A (U.S. SOFR 1 Month+1.65%)144A± | 6.97 | 2-15-2039 | 993,968 | 987,134 | ||
Wendy’s Funding LLC Series 2021-1A Class A2II144A | 2.78 | 6-15-2051 | 243,125 | 200,980 | ||
Westlake Automobile Receivables Trust Series 2021-1A Class C144A | 0.95 | 3-16-2026 | 145 | 145 |
See accompanying notes to portfolio of investments
2 | Allspring Managed Account CoreBuilder Shares - Series CP
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Asset-backed securities(continued) | ||||||
Wingstop Funding LLC Series 2020-1A Class A2144A | 2.84 % | 12-5-2050 | $ | 246,250 | $222,916 | |
Zaxby’s Funding LLC Series 2021-1A Class A2144A | 3.24 | 7-30-2051 | 1,619,212 | 1,423,078 | ||
Total asset-backed securities (Cost $25,479,570) | 25,371,046 | |||||
Corporate bonds and notes: 17.25% | ||||||
Basic materials: 0.22% | ||||||
Chemicals: 0.22% | ||||||
International Flavors & Fragrances, Inc.144A | 3.47 | 12-1-2050 | 300,000 | 196,611 | ||
Westlake Corp. | 1.63 | 7-17-2029 | 100,000 | 96,208 | ||
292,819 | ||||||
Communications: 1.78% | ||||||
Advertising: 0.04% | ||||||
Outfront Media Capital LLC/Outfront Media Capital Corp.144A | 5.00 | 8-15-2027 | 50,000 | 48,016 | ||
Internet: 0.29% | ||||||
Arches Buyer, Inc.144A | 4.25 | 6-1-2028 | 100,000 | 87,278 | ||
MercadoLibre, Inc. | 3.13 | 1-14-2031 | 350,000 | 295,712 | ||
382,990 | ||||||
Media: 1.45% | ||||||
CCO Holdings LLC/CCO Holdings Capital Corp.144A | 4.50 | 8-15-2030 | 450,000 | 373,908 | ||
Charter Communications Operating LLC/Charter Communications Operating Capital | 3.85 | 4-1-2061 | 720,000 | 423,946 | ||
Charter Communications Operating LLC/Charter Communications Operating Capital | 3.90 | 6-1-2052 | 115,000 | 72,173 | ||
Charter Communications Operating LLC/Charter Communications Operating Capital | 6.10 | 6-1-2029 | 590,000 | 590,645 | ||
CSC Holdings LLC144A | 11.25 | 5-15-2028 | 225,000 | 181,548 | ||
Gray Television, Inc.144A | 7.00 | 5-15-2027 | 100,000 | 88,252 | ||
Scripps Escrow II, Inc.144A | 5.38 | 1-15-2031 | 225,000 | 92,024 | ||
Sirius XM Radio, Inc.144A | 5.50 | 7-1-2029 | 80,000 | 74,301 | ||
1,896,797 | ||||||
Consumer, cyclical: 2.81% | ||||||
Airlines: 0.20% | ||||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd.144A | 5.50 | 4-20-2026 | 66,667 | 66,037 | ||
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd.144A | 5.75 | 1-20-2026 | 100,000 | 92,210 | ||
United Airlines Pass-Through Trust Series 2023-1 Class A | 5.80 | 1-15-2036 | 100,000 | 100,319 | ||
258,566 | ||||||
Apparel: 0.80% | ||||||
Crocs, Inc.144A | 4.13 | 8-15-2031 | 125,000 | 108,711 | ||
Tapestry, Inc. | 7.85 | 11-27-2033 | 700,000 | 737,891 | ||
VF Corp. | 2.95 | 4-23-2030 | 250,000 | 202,075 | ||
1,048,677 |
See accompanying notes to portfolio of investments
Allspring Managed Account CoreBuilder Shares - Series CP | 3
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Auto manufacturers: 0.54% | ||||||
Ford Motor Co. | 3.25 % | 2-12-2032 | $ | 515,000 | $423,288 | |
Ford Motor Credit Co. LLC | 4.00 | 11-13-2030 | 320,000 | 283,649 | ||
706,937 | ||||||
Entertainment: 0.45% | ||||||
Cinemark USA, Inc.144A | 5.25 | 7-15-2028 | 100,000 | 93,363 | ||
Warnermedia Holdings, Inc. | 4.28 | 3-15-2032 | 495,000 | 433,228 | ||
Warnermedia Holdings, Inc. | 5.14 | 3-15-2052 | 90,000 | 71,047 | ||
597,638 | ||||||
Home builders: 0.17% | ||||||
KB Home | 4.80 | 11-15-2029 | 50,000 | 46,746 | ||
Taylor Morrison Communities, Inc.144A | 5.13 | 8-1-2030 | 180,000 | 170,779 | ||
217,525 | ||||||
Lodging: 0.23% | ||||||
Las Vegas Sands Corp. | 6.20 | 8-15-2034 | 300,000 | 302,307 | ||
Retail: 0.42% | ||||||
Kohl’s Corp. | 4.63 | 5-1-2031 | 110,000 | 88,708 | ||
Macy’s Retail Holdings LLC144A | 5.88 | 3-15-2030 | 250,000 | 238,315 | ||
NMG Holding Co., Inc./Neiman Marcus Group LLC144A | 7.13 | 4-1-2026 | 45,000 | 44,746 | ||
PetSmart, Inc./PetSmart Finance Corp.144A | 4.75 | 2-15-2028 | 200,000 | 185,741 | ||
557,510 | ||||||
Consumer, non-cyclical: 1.71% | ||||||
Agriculture: 0.17% | ||||||
Philip Morris International, Inc. | 5.25 | 2-13-2034 | 230,000 | 225,272 | ||
Commercial services: 0.94% | ||||||
GEO Group, Inc.144A | 8.63 | 4-15-2029 | 125,000 | 128,663 | ||
Global Payments, Inc. | 5.95 | 8-15-2052 | 270,000 | 261,281 | ||
MPH Acquisition Holdings LLC144A | 5.50 | 9-1-2028 | 245,000 | 182,203 | ||
Sabre Global, Inc.144A | 8.63 | 6-1-2027 | 560,000 | 515,554 | ||
Upbound Group, Inc.144A | 6.38 | 2-15-2029 | 155,000 | 149,462 | ||
1,237,163 | ||||||
Healthcare-products: 0.21% | ||||||
Danaher Corp. | 2.50 | 3-30-2030 | 100,000 | 102,444 | ||
Dentsply Sirona, Inc. | 3.25 | 6-1-2030 | 190,000 | 165,515 | ||
267,959 | ||||||
Pharmaceuticals: 0.39% | ||||||
Bristol-Myers Squibb Co. | 5.65 | 2-22-2064 | 195,000 | 190,548 | ||
Cigna Group | 5.25 | 2-15-2034 | 320,000 | 313,659 | ||
504,207 |
See accompanying notes to portfolio of investments
4 | Allspring Managed Account CoreBuilder Shares - Series CP
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Energy: 0.93% | ||||||
Pipelines: 0.93% | ||||||
Energy Transfer LP (5 Year Treasury Constant Maturity+4.02%)± | 8.00 % | 5-15-2054 | $ | 85,000 | $88,488 | |
Energy Transfer LP Series H (5 Year Treasury Constant Maturity+5.69%)ʊ± | 6.50 | 11-15-2026 | 150,000 | 146,932 | ||
Harvest Midstream I LP144A | 7.50 | 9-1-2028 | 120,000 | 121,771 | ||
Harvest Midstream I LP144A | 7.50 | 5-15-2032 | 110,000 | 111,492 | ||
Prairie Acquiror LP144A | 9.00 | 8-1-2029 | 200,000 | 205,535 | ||
Rockies Express Pipeline LLC144A | 4.95 | 7-15-2029 | 100,000 | 92,624 | ||
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.144A | 6.00 | 12-31-2030 | 50,000 | 47,122 | ||
Venture Global LNG, Inc.144A | 9.50 | 2-1-2029 | 375,000 | 406,695 | ||
1,220,659 | ||||||
Financial: 6.41% | ||||||
Banks: 0.55% | ||||||
HSBC USA, Inc. | 5.63 | 3-17-2025 | 200,000 | 200,058 | ||
Morgan Stanley (U.S. SOFR+1.36%)± | 2.48 | 9-16-2036 | 55,000 | 43,365 | ||
Morgan Stanley (U.S. SOFR+1.99%)± | 2.19 | 4-28-2026 | 220,000 | 213,146 | ||
Santander Holdings USA, Inc. (U.S. SOFR+3.28%)± | 7.66 | 11-9-2031 | 250,000 | 270,190 | ||
726,759 | ||||||
Diversified financial services: 2.14% | ||||||
Aircastle Ltd.144A | 5.95 | 2-15-2029 | 900,000 | 898,475 | ||
Blackstone Holdings Finance Co. LLC144A | 6.20 | 4-22-2033 | 600,000 | 625,932 | ||
Charles Schwab Corp. (U.S. SOFR+2.01%)± | 6.14 | 8-24-2034 | 590,000 | 610,204 | ||
Computershare U.S., Inc. | 1.13 | 10-7-2031 | 100,000 | 87,174 | ||
Enact Holdings, Inc.144A | 6.50 | 8-15-2025 | 410,000 | 412,972 | ||
OneMain Finance Corp. | 7.13 | 3-15-2026 | 170,000 | 172,495 | ||
2,807,252 | ||||||
Insurance: 1.78% | ||||||
Arthur J Gallagher & Co. | 6.75 | 2-15-2054 | 220,000 | 242,077 | ||
AssuredPartners, Inc.144A | 5.63 | 1-15-2029 | 175,000 | 162,852 | ||
Athene Global Funding | 0.37 | 9-10-2026 | 100,000 | 100,165 | ||
Cincinnati Financial Corp. | 6.13 | 11-1-2034 | 75,000 | 78,011 | ||
Guardian Life Insurance Co. of America144A | 4.85 | 1-24-2077 | 105,000 | 86,548 | ||
Hill City Funding Trust144A | 4.05 | 8-15-2041 | 100,000 | 72,021 | ||
Lincoln National Corp. | 4.35 | 3-1-2048 | 85,000 | 64,545 | ||
Lincoln National Corp. | 5.85 | 3-15-2034 | 415,000 | 412,809 | ||
National Life Insurance Co. (3 Month LIBOR+3.31%)144A± | 5.25 | 7-19-2068 | 40,000 | 33,177 | ||
OneAmerica Financial Partners, Inc.144A | 4.25 | 10-15-2050 | 25,000 | 16,820 | ||
PartnerRe Finance B LLC (5 Year Treasury Constant Maturity+3.82%)± | 4.50 | 10-1-2050 | 190,000 | 172,433 | ||
Reinsurance Group of America, Inc. | 6.00 | 9-15-2033 | 359,000 | 364,211 | ||
RGA Global Funding144A | 6.00 | 11-21-2028 | 460,000 | 471,904 | ||
Transatlantic Holdings, Inc. | 8.00 | 11-30-2039 | 43,000 | 53,800 | ||
2,331,373 |
See accompanying notes to portfolio of investments
Allspring Managed Account CoreBuilder Shares - Series CP | 5
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
REITS: 1.94% | ||||||
Brandywine Operating Partnership LP | 8.05 % | 3-15-2028 | $ | 90,000 | $92,804 | |
EPR Properties | 3.60 | 11-15-2031 | 225,000 | 186,830 | ||
EPR Properties | 3.75 | 8-15-2029 | 35,000 | 31,148 | ||
Invitation Homes Operating Partnership LP | 5.45 | 8-15-2030 | 300,000 | 298,916 | ||
Iron Mountain, Inc.144A | 4.50 | 2-15-2031 | 250,000 | 222,495 | ||
Omega Healthcare Investors, Inc. | 3.63 | 10-1-2029 | 550,000 | 488,741 | ||
Realty Income Corp. | 5.13 | 2-15-2034 | 450,000 | 435,545 | ||
Realty Income Corp. | 5.13 | 7-6-2034 | 150,000 | 173,177 | ||
Sabra Health Care LP | 5.13 | 8-15-2026 | 400,000 | 392,419 | ||
VICI Properties LP | 6.13 | 4-1-2054 | 230,000 | 220,331 | ||
2,542,406 | ||||||
Industrial: 0.65% | ||||||
Aerospace/defense: 0.34% | ||||||
Boeing Co. | 5.81 | 5-1-2050 | 490,000 | 438,761 | ||
Building materials: 0.11% | ||||||
Camelot Return Merger Sub, Inc.144A | 8.75 | 8-1-2028 | 150,000 | 148,420 | ||
Packaging & containers: 0.20% | ||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC144A | 6.00 | 6-15-2027 | 200,000 | 195,553 | ||
Clydesdale Acquisition Holdings, Inc.144A | 8.75 | 4-15-2030 | 75,000 | 72,329 | ||
267,882 | ||||||
Technology: 0.53% | ||||||
Computers: 0.09% | ||||||
Kyndryl Holdings, Inc. | 6.35 | 2-20-2034 | 120,000 | 123,414 | ||
Semiconductors: 0.28% | ||||||
Entegris, Inc.144A | 4.75 | 4-15-2029 | 130,000 | 123,344 | ||
Intel Corp. | 5.70 | 2-10-2053 | 250,000 | 244,579 | ||
367,923 | ||||||
Software: 0.16% | ||||||
AthenaHealth Group, Inc.144A | 6.50 | 2-15-2030 | 225,000 | 204,151 | ||
Utilities: 2.21% | ||||||
Electric: 2.06% | ||||||
Appalachian Power Co. | 5.65 | 4-1-2034 | 290,000 | 286,247 | ||
Duke Energy Corp. | 3.10 | 6-15-2028 | 200,000 | 209,751 | ||
Duke Energy Corp. | 3.85 | 6-15-2034 | 100,000 | 104,273 | ||
Duke Energy Indiana LLC | 5.40 | 4-1-2053 | 200,000 | 189,421 | ||
Enel Finance America LLC144A | 2.88 | 7-12-2041 | 400,000 | 263,911 | ||
Entergy Louisiana LLC | 4.75 | 9-15-2052 | 150,000 | 128,920 | ||
Eversource Energy | 5.50 | 1-1-2034 | 280,000 | 274,081 | ||
Indianapolis Power & Light Co.144A | 5.70 | 4-1-2054 | 295,000 | 288,694 | ||
Southern California Edison Co. | 3.65 | 2-1-2050 | 75,000 | 53,528 | ||
Southern California Edison Co. | 5.75 | 4-15-2054 | 170,000 | 167,435 |
See accompanying notes to portfolio of investments
6 | Allspring Managed Account CoreBuilder Shares - Series CP
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Electric(continued) | ||||||
Vistra Operations Co. LLC144A | 3.70 % | 1-30-2027 | $ | 175,000 | $165,958 | |
Vistra Operations Co. LLC144A | 6.95 | 10-15-2033 | 285,000 | 303,595 | ||
Vistra Operations Co. LLC144A | 7.75 | 10-15-2031 | 250,000 | 259,768 | ||
2,695,582 | ||||||
Gas: 0.15% | ||||||
Southern California Gas Co. | 5.75 | 6-1-2053 | 200,000 | 197,793 | ||
Total corporate bonds and notes (Cost $22,729,902) | 22,616,758 | |||||
Foreign corporate bonds and notes: 9.71% | ||||||
Communications: 1.94% | ||||||
Internet: 0.29% | ||||||
Engineering - Ingegneria Informatica - SpA | 5.88 | 9-30-2026 | EUR | 370,000 | 383,478 | |
Media: 0.20% | ||||||
Tele Columbus AG (PIK at 10%)144A¥ | 10.00 | 1-1-2029 | EUR | 101,390 | 73,454 | |
Ziggo Bond Co. BV144A | 3.38 | 2-28-2030 | EUR | 200,000 | 180,932 | |
254,386 | ||||||
Telecommunications: 1.45% | ||||||
British Telecommunications PLC (UK Gilts 5 Year+3.82%)± | 8.38 | 12-20-2083 | GBP | 100,000 | 135,128 | |
Chorus Ltd. | 3.63 | 9-7-2029 | EUR | 500,000 | 534,010 | |
Eutelsat SA | 1.50 | 10-13-2028 | EUR | 200,000 | 171,946 | |
Koninklijke KPN NV | 3.88 | 7-3-2031 | EUR | 400,000 | 437,152 | |
SES SA (EUR Swap Annual (vs. 6 Month EURIBOR) 5 Year+3.19%)ʊ± | 2.88 | 5-27-2026 | EUR | 100,000 | 102,179 | |
Tele2 AB | 0.75 | 3-23-2031 | EUR | 200,000 | 182,759 | |
Telefonaktiebolaget LM Ericsson | 1.00 | 5-26-2029 | EUR | 250,000 | 230,371 | |
Telefonica Europe BV (EUR Swap Annual (vs. 6 Month EURIBOR) 7 Year+3.35%)ʊ± | 6.14 | 2-3-2030 | EUR | 100,000 | 112,845 | |
1,906,390 | ||||||
Consumer, cyclical: 1.02% | ||||||
Auto manufacturers: 0.23% | ||||||
Stellantis NV | 2.00 | 3-20-2025 | EUR | 100,000 | 106,838 | |
Volkswagen Leasing GmbH | 0.38 | 7-20-2026 | EUR | 200,000 | 202,015 | |
308,853 | ||||||
Entertainment: 0.79% | ||||||
888 Acquisitions Ltd.144A | 7.56 | 7-15-2027 | EUR | 240,000 | 257,304 | |
Allwyn Entertainment Financing U.K. PLC144A | 7.25 | 4-30-2030 | EUR | 250,000 | 285,761 | |
Banijay Entertainment SASU144A | 7.00 | 5-1-2029 | EUR | 100,000 | 113,769 | |
Cirsa Finance International Sarl144A | 10.38 | 11-30-2027 | EUR | 90,000 | 104,716 | |
Universal Music Group NV | 4.00 | 6-13-2031 | EUR | 250,000 | 274,309 | |
1,035,859 |
See accompanying notes to portfolio of investments
Allspring Managed Account CoreBuilder Shares - Series CP | 7
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Consumer, non-cyclical: 0.90% | ||||||
Agriculture: 0.10% | ||||||
BAT International Finance PLC | 2.25 % | 1-16-2030 | EUR | 130,000 | $127,077 | |
Commercial services: 0.25% | ||||||
Rentokil Initial Finance BV | 3.88 | 6-27-2027 | EUR | 300,000 | 325,544 | |
Food: 0.32% | ||||||
Iceland Bondco PLC | 10.88 | 12-15-2027 | GBP | 235,000 | 312,028 | |
Sigma Holdco BV144A | 5.75 | 5-15-2026 | EUR | 100,000 | 104,029 | |
416,057 | ||||||
Pharmaceuticals: 0.23% | ||||||
Bayer AG (EUR Swap Annual (vs. 6 Month EURIBOR) 5 Year+3.11%)± | 3.13 | 11-12-2079 | EUR | 200,000 | 196,029 | |
Bayer AG (EUR Swap Annual (vs. 6 Month EURIBOR) 5 Year+3.90%)± | 7.00 | 9-25-2083 | EUR | 100,000 | 111,489 | |
307,518 | ||||||
Energy: 0.54% | ||||||
Oil & gas: 0.54% | ||||||
Aker BP ASA | 1.13 | 5-12-2029 | EUR | 250,000 | 237,371 | |
BP Capital Markets PLC (EUR Swap Annual (vs. 6 Month EURIBOR) 5 Year+3.52%)ʊ± | 3.25 | 3-22-2026 | EUR | 450,000 | 474,874 | |
712,245 | ||||||
Financial: 3.03% | ||||||
Banks: 2.63% | ||||||
ABN AMRO Bank NV (EUR Swap Annual (vs. 6 Month EURIBOR) 5 Year+3.90%)ʊ± | 4.75 | 9-22-2027 | EUR | 200,000 | 204,254 | |
Banco BPM SpA | 0.88 | 7-15-2026 | EUR | 100,000 | 102,344 | |
Banco de Sabadell SA (EURIBOR ICE Swap Rate 11:00am+2.40%)± | 5.50 | 9-8-2029 | EUR | 100,000 | 113,993 | |
CaixaBank SA (EUR Swap Annual (vs. 6 Month EURIBOR) 5 Year+3.55%)± | 6.25 | 2-23-2033 | EUR | 400,000 | 457,036 | |
Credit Agricole SA (EURIBOR ICE Swap Rate 11:00am+4.44%)ʊ± | 7.25 | 9-23-2028 | EUR | 200,000 | 227,318 | |
Deutsche Bank AG (3 Month EURIBOR+2.95%)± | 5.00 | 9-5-2030 | EUR | 200,000 | 223,952 | |
KBC Group NV (EURIBOR ICE Swap Rate 11:00am+4.93%)ʊ± | 8.00 | 9-5-2028 | EUR | 200,000 | 231,567 | |
Nordea Bank Abp (EUR Swap Annual (vs. 6 Month EURIBOR) 5 Year+3.00%)ʊ± | 3.50 | 3-12-2025 | EUR | 400,000 | 425,339 | |
Nykredit Realkredit AS (EUR Swap Annual (vs. 6 Month EURIBOR) 5 Year+4.57%)ʊ± | 4.13 | 4-15-2026 | EUR | 200,000 | 210,853 | |
Raiffeisen Bank International AG (EURIBOR ICE Swap Rate 11:00am+5.20%)± | 7.38 | 12-20-2032 | EUR | 300,000 | 339,105 | |
UBS Group AG (EURIBOR ICE Swap Rate 11:00am+4.95%)± | 7.75 | 3-1-2029 | EUR | 750,000 | 917,610 | |
3,453,371 | ||||||
Diversified financial services: 0.16% | ||||||
Sherwood Financing PLC | 4.50 | 11-15-2026 | EUR | 220,000 | 206,533 |
See accompanying notes to portfolio of investments
8 | Allspring Managed Account CoreBuilder Shares - Series CP
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Insurance: 0.24% | ||||||
Assicurazioni Generali SpA | 2.43 % | 7-14-2031 | EUR | 150,000 | $143,682 | |
AXA SA | 3.63 | 1-10-2033 | EUR | 150,000 | 164,460 | |
308,142 | ||||||
Government securities: 0.24% | ||||||
Multi-national: 0.24% | ||||||
Banque Ouest Africaine de Developpement | 2.75 | 1-22-2033 | EUR | 370,000 | 314,149 | |
Industrial: 0.55% | ||||||
Engineering & construction: 0.21% | ||||||
Cellnex Finance Co. SA | 2.00 | 9-15-2032 | EUR | 300,000 | 276,877 | |
Machinery-diversified: 0.12% | ||||||
Nova Alexandre III SAS (3 Month EURIBOR+5.25%)144A± | 9.11 | 7-15-2029 | EUR | 150,000 | 162,041 | |
Packaging & containers: 0.22% | ||||||
OI European Group BV | 6.25 | 5-15-2028 | EUR | 250,000 | 281,413 | |
Utilities: 1.49% | ||||||
Electric: 0.50% | ||||||
Enel Finance International NV | 0.50 | 6-17-2030 | EUR | 250,000 | 228,322 | |
Energia Group Roi Financeco DAC144A | 6.88 | 7-31-2028 | EUR | 100,000 | 112,682 | |
RWE AG | 2.75 | 5-24-2030 | EUR | 200,000 | 205,101 | |
Vattenfall AB (UK Gilts 5 Year+1.90%)± | 2.50 | 6-29-2083 | GBP | 100,000 | 109,586 | |
655,691 | ||||||
Gas: 0.60% | ||||||
APA Infrastructure Ltd. | 2.00 | 7-15-2030 | EUR | 400,000 | 387,906 | |
Snam SpA | 0.63 | 6-30-2031 | EUR | 450,000 | 393,686 | |
781,592 | ||||||
Water: 0.39% | ||||||
Thames Water Utilities Finance PLC | 4.00 | 4-18-2027 | EUR | 250,000 | 234,997 | |
Thames Water Utilities Finance PLC | 4.38 | 1-18-2031 | EUR | 300,000 | 275,903 | |
510,900 | ||||||
Total foreign corporate bonds and notes (Cost $12,833,447) | 12,728,116 | |||||
Foreign government bonds: 5.43% | ||||||
Australia: 0.70% | ||||||
Australia | 2.75 | 11-21-2028 | AUD | 1,460,000 | 919,341 | |
Brazil: 1.74% | ||||||
Brazil¤ | 0.00 | 7-1-2024 | BRL | 5,800,000 | 1,093,996 | |
Brazil¤ | 0.00 | 10-1-2025 | BRL | 3,800,000 | 631,434 | |
Brazil | 10.00 | 1-1-2027 | BRL | 3,000,000 | 556,965 | |
2,282,395 | ||||||
Malaysia: 0.32% | ||||||
Malaysia | 3.88 | 3-14-2025 | MYR | 1,975,000 | 421,271 |
See accompanying notes to portfolio of investments
Allspring Managed Account CoreBuilder Shares - Series CP | 9
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Spain: 1.39% | ||||||
Spain¤ | 0.00 % | 1-31-2028 | EUR | 1,880,000 | $1,823,664 | |
United Kingdom: 1.28% | ||||||
U.K. Gilts | 3.25 | 1-31-2033 | GBP | 1,420,000 | 1,679,156 | |
Total foreign government bonds (Cost $7,283,427) | 7,125,827 |
Shares | ||||||
Investment companies: 0.29% | ||||||
Exchange-traded funds: 0.29% | ||||||
SPDR Portfolio High Yield Bond ETF | 16,306 | 379,278 | ||||
Total investment companies (Cost $369,983) | 379,278 |
Principal | ||||||
Loans: 0.63% | ||||||
Consumer, cyclical: 0.35% | ||||||
Airlines: 0.18% | ||||||
American Airlines, Inc. (U.S. SOFR 3 Month+4.75%)± | 10.34 | 4-20-2028 | $ | 222,222 | 230,649 | |
Retail: 0.17% | ||||||
Petco Health & Wellness Co., Inc. (U.S. SOFR 3 Month+3.25%)± | 8.82 | 3-3-2028 | 250,000 | 225,670 | ||
Consumer, non-cyclical: 0.03% | ||||||
Commercial services: 0.03% | ||||||
MPH Acquisition Holdings LLC (U.S. SOFR 3 Month+4.25%)± | 9.86 | 9-1-2028 | 56,394 | 47,062 | ||
Energy: 0.08% | ||||||
Pipelines: 0.08% | ||||||
Prairie ECI Acquiror LP (U.S. SOFR 1 Month+4.75%)± | 10.08 | 8-1-2029 | 100,000 | 100,236 | ||
Financial: 0.17% | ||||||
Insurance: 0.17% | ||||||
Asurion LLC (U.S. SOFR 1 Month+3.25%)± | 8.69 | 12-23-2026 | 224,420 | 222,737 | ||
Total loans (Cost $843,682) | 826,354 | |||||
Non-agency mortgage-backed securities: 12.29% | ||||||
Bank Series 2022-BNK44 Class A5±± | 5.74 | 11-15-2055 | 380,000 | 390,216 | ||
BBCMS Mortgage Trust Series 2024-5C25 Class AS±± | 6.36 | 3-15-2057 | 390,000 | 398,146 | ||
Benchmark Mortgage Trust Series 2022-B33 Class A5 | 3.46 | 3-15-2055 | 475,000 | 416,759 | ||
Benchmark Mortgage Trust Series 2022-B35 Class A5±± | 4.44 | 5-15-2055 | 280,000 | 257,057 | ||
BMO Mortgage Trust Series 2023-C4 Class A5±± | 5.12 | 2-15-2056 | 250,000 | 245,161 | ||
BMO Mortgage Trust Series 2024-C8 Class AS±± | 5.91 | 3-15-2057 | 1,115,000 | 1,128,294 | ||
BX Commercial Mortgage Trust Series 2023-VLT3 Class B (U.S. SOFR 1 Month+2.69%)144A± | 8.01 | 11-15-2028 | 250,000 | 250,313 | ||
BX Trust Series 2019-OC11 Class A144A | 3.20 | 12-9-2041 | 250,000 | 220,820 | ||
BX Trust Series 2021-ARIA Class D (U.S. SOFR 1 Month+2.01%)144A± | 7.33 | 10-15-2036 | 860,000 | 844,950 | ||
BX Trust Series 2022-CLS Class C144A | 6.79 | 10-13-2027 | 585,000 | 531,822 |
See accompanying notes to portfolio of investments
10 | Allspring Managed Account CoreBuilder Shares - Series CP
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Non-agency mortgage-backed securities(continued) | ||||||
BX Trust Series 2024-BIO Class C (U.S. SOFR 1 Month+2.64%)144A± | 7.96 % | 2-15-2041 | $ | 750,000 | $749,766 | |
Cascade Funding Mortgage Trust Series 2018-RM2 Class B144A±± | 4.00 | 10-25-2068 | 310,614 | 290,020 | ||
CHNGE Mortgage Trust Series 2022-2 Class A1144A±± | 3.76 | 3-25-2067 | 1,048,861 | 976,437 | ||
CHNGE Mortgage Trust Series 2023-4 Class A1144A | 7.57 | 9-25-2058 | 324,622 | 327,088 | ||
COMM Mortgage Trust Series 2014-CR18 Class C±± | 4.75 | 7-15-2047 | 1,245,000 | 1,210,499 | ||
DBSG Mortgage Trust Series 2024-ALTA Class A144A±± | 6.14 | 6-10-2037 | 1,615,000 | 1,614,441 | ||
FREMF Mortgage Trust Series 2019-KF70 Class B (30 Day Average U.S. SOFR+2.41%)144A± | 7.74 | 9-25-2029 | 76,671 | 71,782 | ||
Imperial Fund Mortgage Trust Series 2021-NQM1 Class A1144A±± | 1.07 | 6-25-2056 | 115,572 | 98,058 | ||
Imperial Fund Mortgage Trust Series 2021-NQM2 Class A2144A±± | 1.36 | 9-25-2056 | 502,516 | 410,447 | ||
JPMBB Commercial Mortgage Securities Trust Series 2013-C15 Class D144A±± | 4.61 | 11-15-2045 | 142,452 | 123,240 | ||
JPMorgan Mortgage Trust Series 2020-1 Class A15144A±± | 3.50 | 6-25-2050 | 79,129 | 67,940 | ||
MFA Trust Series 2020-NQM3 Class M1144A±± | 2.65 | 1-26-2065 | 250,000 | 214,492 | ||
MFA Trust Series 2021-NQM1 Class A1144A±± | 1.15 | 4-25-2065 | 101,913 | 92,146 | ||
New Residential Mortgage Loan Trust Series 2018-4A Class A1M (U.S. SOFR 1 Month+1.01%)144A± | 6.34 | 1-25-2048 | 82,128 | 80,097 | ||
New Residential Mortgage Loan Trust Series 2022-NQM1 Class A1144A±± | 2.28 | 4-25-2061 | 406,043 | 344,324 | ||
OBX Trust Series 2022-NQM7 Class A1144A | 5.11 | 8-25-2062 | 1,047,824 | 1,027,857 | ||
OPG Trust Series 2021-PORT Class B (U.S. SOFR 1 Month+0.83%)144A± | 6.14 | 10-15-2036 | 975,000 | 962,849 | ||
ORL Trust Series 2023-GLKS Class A (U.S. SOFR 1 Month+2.35%)144A± | 7.67 | 10-19-2036 | 335,000 | 336,361 | ||
PRPM LLC Series 2024-2 Class A1144A | 7.03 | 3-25-2029 | 479,673 | 479,953 | ||
Residential Mortgage Loan Trust Series 2019-3 Class A3144A±± | 3.04 | 9-25-2059 | 15,223 | 14,874 | ||
SG Residential Mortgage Trust Series 2021-1 Class A2144A±± | 1.36 | 7-25-2061 | 1,692,345 | 1,334,099 | ||
Starwood Mortgage Residential Trust Series 2020-INV1 Class A1144A±± | 1.03 | 11-25-2055 | 58,267 | 53,761 | ||
Towd Point Mortgage Trust Series 2019-HY3 Class A2 (U.S. SOFR 1 Month+1.41%)144A± | 6.74 | 10-25-2059 | 150,000 | 152,403 | ||
Towd Point Mortgage Trust Series 2020-4 Class A2144A | 2.50 | 10-25-2060 | 350,000 | 274,581 | ||
Verus Securitization Trust Series 2021-R3 Class A1144A±± | 1.02 | 4-25-2064 | 65,674 | 58,591 | ||
Verus Securitization Trust Series 2021-R3 Class A2144A±± | 1.28 | 4-25-2064 | 67,778 | 60,561 | ||
Total non-agency mortgage-backed securities (Cost $16,376,023) | 16,110,205 | |||||
U.S. Treasury securities: 17.96% | ||||||
U.S. Treasury Bonds | 4.25 | 2-15-2054 | 2,410,000 | 2,260,505 | ||
U.S. Treasury Bonds | 4.50 | 2-15-2044 | 135,000 | 131,013 | ||
U.S. Treasury Bonds## | 4.63 | 5-15-2054 | 600,000 | 599,250 | ||
U.S. Treasury Bonds | 4.75 | 11-15-2043 | 1,245,000 | 1,248,112 | ||
U.S. Treasury Bonds | 4.75 | 11-15-2053 | 880,000 | 896,500 | ||
U.S. Treasury Notes | 3.88 | 1-15-2026 | 2,305,000 | 2,265,113 | ||
U.S. Treasury Notes## | 4.00 | 1-31-2029 | 7,430,000 | 7,267,179 | ||
U.S. Treasury Notes | 4.25 | 1-31-2026 | 2,950,000 | 2,916,121 |
See accompanying notes to portfolio of investments
Allspring Managed Account CoreBuilder Shares - Series CP | 11
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
U.S. Treasury securities(continued) | ||||||
U.S. Treasury Notes | 4.38 % | 11-30-2028 | $ | 900,000 | $894,270 | |
U.S. Treasury Notes | 4.38 | 5-15-2034 | 2,105,000 | 2,086,252 | ||
U.S. Treasury Notes## | 4.63 | 5-31-2031 | 2,955,000 | 2,977,624 | ||
Total U.S. Treasury securities (Cost $23,689,707) | 23,541,939 | |||||
Yankee corporate bonds and notes: 7.25% | ||||||
Basic materials: 0.44% | ||||||
Chemicals: 0.44% | ||||||
Braskem Netherlands Finance BV144A | 7.25 | 2-13-2033 | 300,000 | 280,523 | ||
OCI NV144A | 6.70 | 3-16-2033 | 295,000 | 291,642 | ||
572,165 | ||||||
Communications: 0.61% | ||||||
Internet: 0.14% | ||||||
Prosus NV144A | 4.03 | 8-3-2050 | 285,000 | 187,414 | ||
Telecommunications: 0.47% | ||||||
Nokia OYJ | 6.63 | 5-15-2039 | 80,000 | 77,479 | ||
Rogers Communications, Inc. | 4.55 | 3-15-2052 | 500,000 | 407,250 | ||
Telefonica Emisiones SA | 5.21 | 3-8-2047 | 150,000 | 133,576 | ||
618,305 | ||||||
Consumer, cyclical: 0.29% | ||||||
Airlines: 0.15% | ||||||
VistaJet Malta Finance PLC/Vista Management Holding, Inc.144A | 9.50 | 6-1-2028 | 215,000 | 195,540 | ||
Leisure time: 0.14% | ||||||
Carnival Corp.144A | 6.00 | 5-1-2029 | 185,000 | 180,810 | ||
Consumer, non-cyclical: 0.39% | ||||||
Pharmaceuticals: 0.39% | ||||||
Pfizer Investment Enterprises Pte. Ltd. | 5.30 | 5-19-2053 | 305,000 | 291,589 | ||
Teva Pharmaceutical Finance Netherlands III BV | 8.13 | 9-15-2031 | 200,000 | 219,553 | ||
511,142 | ||||||
Energy: 0.37% | ||||||
Pipelines: 0.37% | ||||||
Enbridge, Inc. | 5.95 | 4-5-2054 | 340,000 | 338,410 | ||
Enbridge, Inc. (5 Year Treasury Constant Maturity+4.42%)± | 7.63 | 1-15-2083 | 150,000 | 151,882 | ||
490,292 | ||||||
Financial: 4.00% | ||||||
Banks: 2.45% | ||||||
Banco Industrial SA (5 Year Treasury Constant Maturity+4.44%)144A± | 4.88 | 1-29-2031 | 150,000 | 144,750 | ||
Banco Mercantil del Norte SA (5 Year Treasury Constant Maturity+4.64%)144Aʊ± | 5.88 | 1-24-2027 | 400,000 | 378,214 | ||
Bank of Ireland Group PLC (U.S. SOFR+1.62%)144A± | 5.60 | 3-20-2030 | 365,000 | 360,628 |
See accompanying notes to portfolio of investments
12 | Allspring Managed Account CoreBuilder Shares - Series CP
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Banks(continued) | ||||||
Barclays PLC (U.S. SOFR+1.74%)± | 5.69 % | 3-12-2030 | $ | 215,000 | $214,861 | |
BBVA Bancomer SA (5 Year Treasury Constant Maturity+4.31%)144A± | 5.88 | 9-13-2034 | 200,000 | 187,116 | ||
BNP Paribas SA (5 Year Treasury Constant Maturity+3.73%)144Aʊ± | 8.00 | 8-22-2031 | 250,000 | 253,678 | ||
Danske Bank AS (1 Year Treasury Constant Maturity+1.40%)144A± | 5.71 | 3-1-2030 | 520,000 | 520,562 | ||
Lloyds Banking Group PLC (5 Year Treasury Constant Maturity+4.82%)ʊ± | 6.75 | 6-27-2026 | 200,000 | 198,580 | ||
Macquarie Bank Ltd. (5 Year Treasury Constant Maturity+1.70%)144A± | 3.05 | 3-3-2036 | 200,000 | 166,049 | ||
National Australia Bank Ltd. (5 Year Treasury Constant Maturity+1.70%)144A± | 3.35 | 1-12-2037 | 500,000 | 419,444 | ||
UBS Group AG (5 Year Treasury Constant Maturity+3.40%)144Aʊ± | 4.88 | 2-12-2027 | 200,000 | 182,899 | ||
Unicredit SpA (5 Year Treasury Constant Maturity+4.75%)144A± | 5.46 | 6-30-2035 | 200,000 | 187,830 | ||
3,214,611 | ||||||
Diversified financial services: 0.38% | ||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust | 2.45 | 10-29-2026 | 450,000 | 418,714 | ||
CI Financial Corp. | 4.10 | 6-15-2051 | 105,000 | 66,059 | ||
Unifin Financiera SAB de CV144A† | 9.88 | 1-28-2029 | 250,000 | 12,625 | ||
497,398 | ||||||
Insurance: 0.35% | ||||||
Allianz SE (5 Year Treasury Constant Maturity+3.23%)144A± | 6.35 | 9-6-2053 | 400,000 | 413,182 | ||
RenaissanceRe Holdings Ltd. | 5.75 | 6-5-2033 | 45,000 | 44,671 | ||
457,853 | ||||||
Private equity: 0.82% | ||||||
Brookfield Finance, Inc. | 3.63 | 2-15-2052 | 200,000 | 139,737 | ||
Brookfield Finance, Inc. | 5.97 | 3-4-2054 | 500,000 | 499,832 | ||
Brookfield Finance, Inc. | 6.35 | 1-5-2034 | 410,000 | 429,232 | ||
1,068,801 | ||||||
Industrial: 0.15% | ||||||
Aerospace/defense: 0.06% | ||||||
Bombardier, Inc.144A | 7.88 | 4-15-2027 | 80,000 | 80,085 | ||
Engineering & construction: 0.09% | ||||||
CIMIC Finance USA Pty. Ltd.144A | 7.00 | 3-25-2034 | 120,000 | 121,042 | ||
Technology: 0.56% | ||||||
Semiconductors: 0.56% | ||||||
SK Hynix, Inc.144A | 5.50 | 1-16-2027 | 739,000 | 735,098 |
See accompanying notes to portfolio of investments
Allspring Managed Account CoreBuilder Shares - Series CP | 13
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Utilities: 0.44% | ||||||
Electric: 0.44% | ||||||
Comision Federal de Electricidad144A | 3.35 % | 2-9-2031 | $ | 500,000 | $416,759 | |
Comision Federal de Electricidad144A | 3.88 | 7-26-2033 | 200,000 | 162,202 | ||
578,961 | ||||||
Total yankee corporate bonds and notes (Cost $9,629,026) | 9,509,517 | |||||
Yankee government bonds: 2.53% | ||||||
Benin: 0.14% | ||||||
Benin144A | 7.96 | 2-13-2038 | 200,000 | 187,023 | ||
Colombia: 0.28% | ||||||
Colombia | 3.13 | 4-15-2031 | 200,000 | 156,552 | ||
Colombia | 8.00 | 11-14-2035 | 200,000 | 203,908 | ||
360,460 | ||||||
Dominican Republic: 0.26% | ||||||
Dominican Republic144A | 4.88 | 9-23-2032 | 380,000 | 340,058 | ||
Israel: 0.48% | ||||||
Israel | 5.75 | 3-12-2054 | 700,000 | 632,478 | ||
Ivory Coast: 0.22% | ||||||
Ivory Coast144A | 8.25 | 1-30-2037 | 300,000 | 292,125 | ||
Kenya: 0.16% | ||||||
Kenya144A | 8.25 | 2-28-2048 | 250,000 | 208,450 | ||
Mexico: 0.15% | ||||||
Mexico | 6.35 | 2-9-2035 | 200,000 | 201,926 | ||
Oman: 0.16% | ||||||
Oman144A | 6.25 | 1-25-2031 | 200,000 | 204,928 | ||
Panama: 0.38% | ||||||
Panama | 4.50 | 1-19-2063 | 500,000 | 313,283 | ||
Panama | 6.40 | 2-14-2035 | 200,000 | 187,954 | ||
501,237 | ||||||
Paraguay: 0.20% | ||||||
Paraguay144A | 5.40 | 3-30-2050 | 300,000 | 257,023 | ||
Romania: 0.10% | ||||||
Romania144A | 6.38 | 1-30-2034 | 130,000 | 129,513 | ||
Total yankee government bonds (Cost $3,393,039) | 3,315,221 |
See accompanying notes to portfolio of investments
14 | Allspring Managed Account CoreBuilder Shares - Series CP
Portfolio of investments—May 31, 2024 (unaudited)
Yield | Shares | Value | ||||
Short-term investments: 8.93% | ||||||
Investment companies: 5.13% | ||||||
Allspring Government Money Market Fund Select Class♠∞## | 5.24 % | 6,730,781 | $6,730,781 |
Maturity date | Principal | |||||
U.S. Treasury securities: 3.80% | ||||||
U.S. Treasury Bills☼ | 3.84 | 6-11-2024 | $ | 2,500,000 | 2,497,073 | |
U.S. Treasury Bills☼ | 4.84 | 7-5-2024 | 2,500,000 | 2,488,279 | ||
4,985,352 | ||||||
Total short-term investments (Cost $11,716,149) | 11,716,133 | |||||
Total investments in securities (Cost $153,416,390) | 116.30 % | 152,492,362 | ||||
Other assets and liabilities, net | (16.30 ) | (21,373,950 ) | ||||
Total net assets | 100.00 % | $131,118,412 |
%% | The security is purchased on a when-issued basis. |
¤ | The security is issued in zero coupon form with no periodic interest payments. |
144A | The security may be resold in transactions exempt from registration, normally to qualified institutional buyers, pursuant to Rule 144A under the Securities Act of 1933. |
±± | The coupon of the security is adjusted based on the principal and/or interest payments received from the underlying pool of mortgages as well as the credit quality and the actual prepayment speed of the underlying mortgages. The rate shown is the rate in effect at period end. |
± | Variable rate investment. The rate shown is the rate in effect at period end. |
♦ | The security is fair valued in accordance with procedures approved by the Board of Trustees. |
‡ | Security is valued using significant unobservable inputs. |
ʊ | Security is perpetual in nature and has no stated maturity date. The date shown reflects the next call date. |
¥ | A payment-in-kind (PIK) security is a security in which the issuer may make interest or dividend payments in cash or additional securities or a combination of both. The rate shown is the rate in effect at period end. |
## | All or a portion of this security is segregated as collateral for when-issued securities. |
† | Non-income-earning security |
♠ | The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
∞ | The rate represents the 7-day annualized yield at period end. |
☼ | Zero coupon security. The rate represents the current yield to maturity. |
Abbreviations: | |
AUD | Australian dollar |
BRL | Brazilian real |
EUR | Euro |
EURIBOR | Euro Interbank Offered Rate |
FHLB | Federal Home Loan Bank |
FNMA | Federal National Mortgage Association |
GBP | Great British pound |
GNMA | Government National Mortgage Association |
LIBOR | London Interbank Offered Rate |
MYR | Malaysian ringgit |
REIT | Real estate investment trust |
SOFR | Secured Overnight Financing Rate |
STRIPS | Separate trading of registered interest and principal securities |
TVA | Tennessee Valley Authority |
See accompanying notes to portfolio of investments
Allspring Managed Account CoreBuilder Shares - Series CP | 15
Portfolio of investments—May 31, 2024 (unaudited)
Investments in affiliates
An affiliated investment is an investment in which the Fund owns at least 5% of the outstanding voting shares of the issuer or as a result of other relationships, such as the Fund and the issuer having the same investment manager. Transactions with issuers that were affiliates of the Fund at the end of the period were as follows:
Value, beginning of period | Purchases | Sales proceeds | Net realized gains (losses) | Net change in unrealized gains (losses) | Value, end of period | Shares, end of period | Income from affiliated securities | |
Short-term investments | ||||||||
Allspring Government Money Market Fund Select Class | $2,048,819 | $94,065,892 | $(89,383,930 ) | $0 | $0 | $6,730,781 | 6,730,781 | $113,129 |
Forward foreign currency contracts
Currency to be received | Currency to be delivered | Counterparty | Settlement date | Unrealized gains | Unrealized losses | ||
USD | 671,241 | AUD | 1,025,000 | Morgan Stanley, Inc. | 6-28-2024 | $0 | $(11,219 ) |
USD | 249,168 | AUD | 375,000 | Morgan Stanley, Inc. | 6-28-2024 | 0 | (512 ) |
USD | 16,131,684 | EUR | 14,801,000 | Citibank N.A. | 6-28-2024 | 55,076 | 0 |
EUR | 230,000 | USD | 251,675 | Citibank N.A. | 6-28-2024 | 0 | (1,852 ) |
USD | 304,276 | EUR | 280,000 | Citibank N.A. | 6-28-2024 | 144 | 0 |
EUR | 1,050,000 | USD | 1,122,697 | Citibank N.A. | 6-28-2024 | 17,796 | 0 |
USD | 172,488 | EUR | 160,000 | Citibank N.A. | 6-28-2024 | 0 | (1,301 ) |
USD | 108,579 | EUR | 100,000 | Citibank N.A. | 6-28-2024 | 0 | (40 ) |
USD | 1,873,416 | GBP | 1,473,000 | Citibank N.A. | 6-28-2024 | 0 | (3,779 ) |
USD | 133,586 | GBP | 105,000 | Citibank N.A. | 6-28-2024 | 0 | (227 ) |
JPY | 16,500,000 | USD | 110,993 | Citibank N.A. | 6-28-2024 | 0 | (5,692 ) |
USD | 423,836 | MYR | 2,000,000 | Morgan Stanley, Inc. | 6-28-2024 | 0 | (1,690 ) |
$73,016 | $(26,312 ) |
Futures contracts
Description | Number of contracts | Expiration date | Notional cost | Notional value | Unrealized gains | Unrealized losses |
Long | ||||||
Ultra Long Term U.S. Treasury Bond | 12 | 9-19-2024 | $1,496,152 | $1,469,250 | $0 | $(26,902 ) |
2-Year U.S. Treasury Notes | 85 | 9-30-2024 | 17,331,727 | 17,314,766 | 0 | (16,961 ) |
5-Year U.S. Treasury Notes | 104 | 9-30-2024 | 11,037,979 | 11,002,875 | 0 | (35,104 ) |
Short | ||||||
5-Year U.S. Treasury Notes | (19 ) | 6-28-2024 | (2,008,923 ) | (2,003,164 ) | 5,759 | 0 |
10-Year Euro BUND Index | (1 ) | 9-6-2024 | (140,936 ) | (141,035 ) | 0 | (99 ) |
2-Year Euro SCHATZ | (2 ) | 9-6-2024 | (228,356 ) | (228,381 ) | 0 | (25 ) |
5-Year Euro-BOBL Futures | (4 ) | 9-6-2024 | (500,679 ) | (500,815 ) | 0 | (136 ) |
10-Year U.S. Treasury Notes | (6 ) | 9-19-2024 | (654,077 ) | (652,781 ) | 1,296 | 0 |
Ultra 10-Year U.S. Treasury Notes | (78 ) | 9-19-2024 | (8,757,805 ) | (8,738,438 ) | 19,367 | 0 |
$26,422 | $(79,227 ) |
See accompanying notes to portfolio of investments
16 | Allspring Managed Account CoreBuilder Shares - Series CP
Notes to portfolio of investments—May 31, 2024 (unaudited)
Notes to portfolio of investments
Securities valuation
All investments are valued each business day as of the close of regular trading on the New York Stock Exchange (generally 4 p.m. Eastern Time), although the Fund may deviate from this calculation time under unusual or unexpected circumstances.
Debt securities are valued at the evaluated bid price provided by an independent pricing service (e.g., taking into account various factors, including yields, maturities, or credit ratings) or, if a reliable price is not available, the quoted bid price from an independent broker-dealer.
Equity securities, exchange-traded funds and futures contracts that are listed on a foreign or domestic exchange or market are valued at the official closing price or, if none, the last sales price.
The values of securities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee at Allspring Funds Management, LLC (“Allspring Funds Management”).
Forward foreign currency contracts are recorded at the forward rate provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee at Allspring Funds Management.
Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.
Investments which are not valued using the methods discussed above are valued at their fair value, as determined in good faith by Allspring Funds Management, which was named the valuation designee by the Board of Trustees. As the valuation designee, Allspring Funds Management is responsible for day-to-day valuation activities for the Allspring Funds. In connection with these responsibilities, Allspring Funds Management has established a Valuation Committee and has delegated to it the authority to take any actions regarding the valuation of portfolio securities that the Valuation Committee deems necessary or appropriate, including determining the fair value of portfolio securities. On a quarterly basis, the Board of Trustees receives reports of valuation actions taken by the Valuation Committee. On at least an annual basis, the Board of Trustees receives an assessment of the adequacy and effectiveness of Allspring Funds Management’s process for determining the fair value of the portfolio of investments.
Foreign currency translation
The accounting records of the Fund are maintained in U.S. dollars. The values of other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee. Purchases and sales of securities, and income and expenses are converted at the rate of exchange on the respective dates of such transactions. Net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the U.S. dollar equivalent of the amounts actually paid or received. Net unrealized foreign exchange gains and losses arise from changes in the fair value of assets and liabilities other than investments in securities resulting from changes in exchange rates. The changes in net assets arising from changes in exchange rates of securities and the changes in net assets resulting from changes in market prices of securities are not separately presented. Such changes are included in net realized and unrealized gains or losses from investments.
When-issued transactions
The Fund may purchase securities on a forward commitment or when-issued basis. The Fund records a when-issued transaction on the trade date and will segregate assets in an amount at least equal in value to the Fund’s commitment to purchase when-issued securities. Securities purchased on a when-issued basis are marked-to-market daily and the Fund begins earning interest on the settlement date. Losses may arise due to changes in the market value of the underlying securities or if the counterparty does not perform under the contract.
Loans
The Fund may invest in direct debt instruments which are interests in amounts owed to lenders by corporate or other borrowers. The loans pay interest at rates which are periodically reset by reference to a base lending rate plus a spread. Investments in loans may be in the form of participations in loans or assignments of all or a portion of loans from third parties. When the Fund purchases participations, it generally has no rights to enforce compliance with the terms of the loan agreement with the borrower. As a result, the Fund assumes the credit risk of both the borrower and the lender that is selling the participation. When the Fund purchases assignments from lenders, it acquires direct rights against the borrower on the loan and may enforce compliance by the borrower with the terms of the loan agreement. Loans may include fully funded term loans or unfunded loan commitments, which are contractual obligations for future funding. Unfunded loan commitments represent the remaining obligation of the Fund to the borrower. At any point in time, up to the maturity date of the issue, the borrower may demand the unfunded portion. Unfunded amounts, if any, are marked to market.
Forward foreign currency contracts
A forward foreign currency contract is an agreement between two parties to purchase or sell a specific currency for an agreed-upon price at a future date. The Fund enters into forward foreign currency contracts to facilitate transactions in foreign-denominated securities and to attempt to minimize the risk to the Fund from adverse changes in the relationship between currencies. Forward foreign currency contracts are recorded at the forward rate and marked-to-market daily. When the contracts are closed, realized gains and losses arising from such transactions are recorded as realized gains or losses
Allspring Managed Account CoreBuilder Shares - Series CP | 17
Notes to portfolio of investments—May 31, 2024 (unaudited)
on forward foreign currency contracts. The Fund is subject to foreign currency risk and may be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. The Fund’s maximum risk of loss from counterparty credit risk is the unrealized gains on the contracts. This risk may be mitigated if there is a master netting arrangement between the Fund and the counterparty.
Futures contracts
Futures contracts are agreements between the Fund and a counterparty to buy or sell a specific amount of a commodity, financial instrument or currency at a specified price and on a specified date. The Fund may buy and sell futures contracts in order to gain exposure to, or protect against, changes in interest rates and is subject to interest rate risk. The primary risks associated with the use of futures contracts are the imperfect correlation between changes in market values of securities held by the Fund and the prices of futures contracts, and the possibility of an illiquid market. Futures contracts are generally entered into on a regulated futures exchange and cleared through a clearinghouse associated with the exchange. With futures contracts, there is minimal counterparty risk to the Fund since futures contracts are exchange-traded and the exchange’s clearinghouse, as the counterparty to all exchange-traded futures, guarantees the futures contracts against default.
Upon entering into a futures contract, the Fund is required to deposit either cash or securities (initial margin) with the broker in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are paid to or received from the broker each day equal to the daily changes in the contract value. Such payments are recorded as unrealized gains or losses and, if any, shown as variation margin receivable (payable). Should the Fund fail to make requested variation margin payments, the broker can gain access to the initial margin to satisfy the Fund’s payment obligations. When the contracts are closed, a realized gain or loss is recorded.
Mortgage dollar roll transactions
The Fund may engage in mortgage dollar roll transactions through TBA mortgage-backed securities issued by Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC). In a mortgage dollar roll transaction, the Fund sells a mortgage-backed security to a financial institution, such as a bank or broker-dealer and simultaneously agrees to repurchase a substantially similar security from the institution at a later date at an agreed upon price. The mortgage-backed securities that are repurchased will bear the same interest rate as those sold, but generally will be collateralized by different pools of mortgages with different pre-payment histories. During the roll period, the Fund foregoes principal and interest paid on the securities. The Fund is compensated by the difference between the current sales price and the forward price for the future purchase as well as by the earnings on the cash proceeds of the initial sale. Mortgage dollar rolls may be renewed without physical delivery of the securities subject to the contract. The Fund accounts for TBA dollar roll transactions as purchases and sales which, as a result, may increase its portfolio turnover rate.
Fair valuation measurements
Fair value measurements of investments are determined within a framework that has established a fair value hierarchy based upon the various data inputs utilized in determining the value of the Fund’s investments. The three-level hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The Fund’s investments are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement. The inputs are summarized into three broad levels as follows:
•Level 1 – quoted prices in active markets for identical securities
•Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
•Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The inputs or methodologies used for valuing investments in securities are not necessarily an indication of the risk associated with investing in those securities.
18 | Allspring Managed Account CoreBuilder Shares - Series CP
Notes to portfolio of investments—May 31, 2024 (unaudited)
The following is a summary of the inputs used in valuing the Fund’s assets and liabilities as of May 31, 2024:
Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total | |
Assets | ||||
Investments in: | ||||
Agency securities | $0 | $19,251,968 | $0 | $19,251,968 |
Asset-backed securities | 0 | 24,971,803 | 399,243 | 25,371,046 |
Corporate bonds and notes | 0 | 22,616,758 | 0 | 22,616,758 |
Foreign corporate bonds and notes | 0 | 12,728,116 | 0 | 12,728,116 |
Foreign government bonds | 0 | 7,125,827 | 0 | 7,125,827 |
Investment companies | 379,278 | 0 | 0 | 379,278 |
Loans | 0 | 826,354 | 0 | 826,354 |
Non-agency mortgage-backed securities | 0 | 16,110,205 | 0 | 16,110,205 |
U.S. Treasury securities | 23,541,939 | 0 | 0 | 23,541,939 |
Yankee corporate bonds and notes | 0 | 9,509,517 | 0 | 9,509,517 |
Yankee government bonds | 0 | 3,315,221 | 0 | 3,315,221 |
Short-term investments | ||||
Investment companies | 6,730,781 | 0 | 0 | 6,730,781 |
U.S. Treasury securities | 4,985,352 | 0 | 0 | 4,985,352 |
35,637,350 | 116,455,769 | 399,243 | 152,492,362 | |
Forward foreign currency contracts | 0 | 73,016 | 0 | 73,016 |
Futures contracts | 26,422 | 0 | 0 | 26,422 |
Total assets | $35,663,772 | $116,528,785 | $399,243 | $152,591,800 |
Liabilities | ||||
Forward foreign currency contracts | $0 | $26,312 | $0 | $26,312 |
Futures contracts | 79,227 | 0 | 0 | 79,227 |
Total liabilities | $79,227 | $26,312 | $0 | $105,539 |
Futures contracts and forward foreign currency contracts are reported at their cumulative unrealized gains (losses) at measurement date as reported in the tables following the Portfolio of Investments. All other assets and liabilities are reported at their market value at measurement date.
Additional sector, industry or geographic detail, if any, is included in the Portfolio of Investments.
As of May 31, 2024, $368,000 was segregated as cash collateral for these open futures contracts. The Fund also had $260,000 segregated as cash collateral for open forward foreign currency contracts.
At May 31, 2024, the Fund did not have any transfers into/out of Level 3.
Allspring Managed Account CoreBuilder Shares - Series CP | 19