Portfolio of investments—May 31, 2024 (unaudited)
Portfolio of investments
Interest rate | Maturity date | Principal | Value | |||
Agency securities: 8.83% | ||||||
FHLMC | 4.00 % | 5-1-2025 | $ | 38,478 | $38,093 | |
FHLMC Multifamily Structured Pass-Through Certificates Series Q004 Class AFL (12 Month Treasury Average+0.74%)± | 5.89 | 5-25-2044 | 236,797 | 236,793 | ||
FHLMC Structured Pass-Through Certificates Series T-42 Class A6 | 9.50 | 2-25-2042 | 185,354 | 203,751 | ||
FHLMC Structured Pass-Through Certificates Series T-57 Class 2A1±± | 4.43 | 7-25-2043 | 43,618 | 40,373 | ||
FHLMC Structured Pass-Through Certificates Series T-59 Class 2A1±± | 3.95 | 10-25-2043 | 438,009 | 345,621 | ||
FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.42 | 4-1-2038 | 60,661 | 61,676 | ||
FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 7.13 | 4-1-2032 | 9,884 | 9,919 | ||
FHLMC (3 Year Treasury Constant Maturity+2.09%)± | 2.96 | 5-1-2026 | 225 | 222 | ||
FHLMC (RFUCCT1Y+1.91%)± | 6.16 | 9-1-2031 | 1,485 | 1,483 | ||
FHLMC Series 2597 Class AE | 5.50 | 4-15-2033 | 4,914 | 4,855 | ||
FHLMC Series 3735 Class KL | 3.50 | 10-15-2025 | 37,327 | 36,774 | ||
FNMA | 6.00 | 3-1-2033 | 37,978 | 38,413 | ||
FNMA | 6.50 | 8-1-2031 | 97,384 | 98,986 | ||
FNMA%% | 7.00 | 6-15-2054 | 6,085,000 | 6,250,717 | ||
FNMA | 9.00 | 11-1-2024 | 1,946 | 1,942 | ||
FNMA (1 Year Treasury Constant Maturity+1.27%)± | 5.40 | 8-1-2034 | 37,024 | 36,637 | ||
FNMA (1 Year Treasury Constant Maturity+2.22%)± | 6.34 | 11-1-2031 | 12,572 | 12,496 | ||
FNMA (1 Year Treasury Constant Maturity+2.28%)± | 6.55 | 8-1-2036 | 293,332 | 301,383 | ||
FNMA (RFUCCT1Y+1.77%)± | 6.24 | 7-1-2044 | 197,621 | 202,643 | ||
FNMA Series 2002-T1 Class A4 | 9.50 | 11-25-2031 | 10,729 | 11,486 | ||
FNMA Series 2002-T12 Class A4 | 9.50 | 5-25-2042 | 273,451 | 280,340 | ||
FNMA Series 2003-W11 Class A1±± | 7.45 | 6-25-2033 | 3,406 | 3,424 | ||
FNMA Series 2003-W6 Class 6A±± | 4.37 | 8-25-2042 | 200,898 | 192,956 | ||
FNMA Series 2003-W6 Class PT4±± | 8.25 | 10-25-2042 | 27,863 | 29,264 | ||
FNMA Series 2005-84 Class MB | 5.75 | 10-25-2035 | 62,282 | 62,165 | ||
FNMA Series 2006-W1 Class 2AF2 (30 Day Average U.S. SOFR+0.30%)± | 5.63 | 2-25-2046 | 837,987 | 829,030 | ||
FNMA Series 2011-48 Class CN | 4.00 | 6-25-2026 | 49,991 | 49,105 | ||
GNMA%% | 5.50 | 6-15-2054 | 6,280,000 | 6,229,293 | ||
GNMA%% | 6.00 | 6-15-2054 | 15,410,000 | 15,504,350 | ||
GNMA%% | 6.50 | 6-15-2054 | 17,275,000 | 17,535,030 | ||
GNMA%% | 7.00 | 6-15-2054 | 6,110,000 | 6,231,565 | ||
GNMA Series 2005-27 Class PA | 4.50 | 4-20-2035 | 14,231 | 13,876 | ||
Total agency securities (Cost $54,795,409) | 54,894,661 | |||||
Asset-backed securities: 12.68% | ||||||
ACHM Trust Series 2023-HE2 Class A144A±± | 7.50 | 10-25-2038 | 1,824,682 | 1,863,088 | ||
Aqua Finance Trust Series 2021-A Class A144A | 1.54 | 7-17-2046 | 1,259,474 | 1,127,346 | ||
Avis Budget Rental Car Funding AESOP LLC Series 2019-2A Class A144A | 3.35 | 9-22-2025 | 2,886,667 | 2,874,337 | ||
Avis Budget Rental Car Funding AESOP LLC Series 2020-1A Class B144A | 2.68 | 8-20-2026 | 2,220,000 | 2,141,728 | ||
BHG Securitization Trust Series 2021-A Class A144A | 1.42 | 11-17-2033 | 886,503 | 846,655 | ||
BHG Securitization Trust Series 2021-A Class B144A | 2.79 | 11-17-2033 | 1,335,000 | 1,218,403 |
See accompanying notes to portfolio of investments
Allspring Short-Term Bond Plus Fund | 1
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Asset-backed securities(continued) | ||||||
Black Diamond CLO Ltd. Series 2017-1A Class A1AR (U.S. SOFR 3 Month+1.31%)144A± | 6.63 % | 4-24-2029 | $ | 531,432 | $531,452 | |
Bojangles Issuer LLC Series 2020-1A Class A2144A | 3.83 | 10-20-2050 | 2,186,062 | 2,071,043 | ||
BRAVO Residential Funding Trust Series 2021-HE2 Class A1 (30 Day Average U.S. SOFR+0.75%)144A± | 6.07 | 11-25-2069 | 1,231,541 | 1,225,470 | ||
Cajun Global LLC Series 2021-1 Class A2144A | 3.93 | 11-20-2051 | 970,000 | 878,561 | ||
Carvana Auto Receivables Trust Series 2021-P3 Class A3 | 0.70 | 11-10-2026 | 1,983,427 | 1,939,263 | ||
CFMT LLC Series 2021-AL1 Class B144A | 1.39 | 9-22-2031 | 582,152 | 573,522 | ||
CIFC Funding Ltd. Series 2018-1A Class A (U.S. SOFR 3 Month+1.26%)144A± | 6.59 | 4-18-2031 | 3,213,134 | 3,220,957 | ||
Cogent IPv4 LLC Series 2024-1A Class A2144A | 7.92 | 5-25-2054 | 915,000 | 926,080 | ||
Commonbond Student Loan Trust Series 2018-BGS Class A1144A | 3.56 | 9-25-2045 | 614,098 | 567,269 | ||
Contimortgage Home Equity Loan Trust Series 1996-2 Class IOƒ±± | 0.00 | 7-15-2027 | 349,634 | 5,913 | ||
CPS Auto Receivables Trust Series 2021-A Class D144A | 1.16 | 12-15-2026 | 2,186,855 | 2,152,769 | ||
DataBank Issuer LLC Series 2024-1A Class A2144A | 5.30 | 1-26-2054 | 2,760,000 | 2,611,744 | ||
Domino’s Pizza Master Issuer LLC Series 2015-1A Class A2II144A | 4.47 | 10-25-2045 | 3,060,750 | 2,996,388 | ||
Dryden 72 CLO Ltd. Series 2019-72A Class CR (U.S. SOFR 3 Month+2.11%)144A± | 7.43 | 5-15-2032 | 1,000,000 | 1,001,861 | ||
EquiFirst Mortgage Loan Trust Series 2003-2 Class 3A3 (U.S. SOFR 1 Month+1.24%)± | 6.56 | 9-25-2033 | 91,079 | 89,501 | ||
Exeter Automobile Receivables Trust Series 2021-3A Class C | 0.96 | 10-15-2026 | 728,252 | 720,098 | ||
FIGRE Trust Series 2023-HE2 Class A144A±± | 6.51 | 5-25-2053 | 1,342,688 | 1,353,478 | ||
FirstKey Homes Trust Series 2021-SFR1 Class C144A | 1.89 | 8-17-2038 | 1,835,000 | 1,672,040 | ||
FirstKey Homes Trust Series 2021-SFR2 Class B144A | 1.61 | 9-17-2038 | 2,235,000 | 2,026,072 | ||
Five Guys Holdings, Inc. Series 2023-1A Class A2144A | 7.55 | 1-26-2054 | 615,000 | 634,226 | ||
FREED Mortgage Trust Series 2022-HE1 Class A144A | 7.00 | 10-25-2037 | 1,709,034 | 1,718,159 | ||
FS Rialto Issuer Ltd. Series 2021-FL3 Class B (U.S. SOFR 1 Month+1.91%)144A± | 7.23 | 11-16-2036 | 2,000,000 | 1,970,051 | ||
Harley-Davidson Motorcycle Trust Series 2023-B Class A3 | 5.69 | 8-15-2028 | 1,120,000 | 1,125,634 | ||
Hertz Vehicle Financing LLC Series 2021-1A Class A144A | 1.21 | 12-26-2025 | 2,325,000 | 2,285,721 | ||
HGI CRE CLO Ltd. Series 2021-FL1 Class A (U.S. SOFR 1 Month+1.16%)144A± | 6.48 | 6-16-2036 | 429,137 | 426,161 | ||
HGI CRE CLO Ltd. Series 2021-FL2 Class C (U.S. SOFR 1 Month+1.91%)144A± | 7.23 | 9-17-2036 | 1,000,000 | 970,258 | ||
Jonah Energy ABS I LLC Series 2022-1 Class A1144A | 7.20 | 12-10-2037 | 2,150,878 | 2,132,831 | ||
MF1 Ltd. Series 2021-FL7 Class A (U.S. SOFR 1 Month+1.19%)144A± | 6.51 | 10-16-2036 | 227,140 | 225,863 | ||
MF1 Ltd. Series 2022-FL8 Class A (U.S. SOFR 1 Month+1.35%)144A± | 6.67 | 2-19-2037 | 3,680,921 | 3,651,014 | ||
MF1 Multifamily Housing Mortgage Loan Trust Series 2021-FL5 Class A (U.S. SOFR 1 Month+0.96%)144A± | 6.28 | 7-15-2036 | 613,819 | 610,558 | ||
MNR ABS Issuer I LLC♦‡ | 8.12 | 12-15-2038 | 973,673 | 982,047 | ||
Navient Private Education Refinance Loan Trust Series 2021-EA Class A144A | 0.97 | 12-16-2069 | 1,854,198 | 1,603,768 | ||
NBC Funding LLC Series 2024-1A Class A2144A | 6.75 | 7-30-2054 | 2,180,000 | 2,189,919 | ||
Octane Receivables Trust Series 2021-1A Class A144A | 0.93 | 3-22-2027 | 79,838 | 79,318 |
See accompanying notes to portfolio of investments
2 | Allspring Short-Term Bond Plus Fund
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Asset-backed securities(continued) | ||||||
Octane Receivables Trust Series 2022-2A Class A144A | 5.11 % | 2-22-2028 | $ | 608,242 | $605,523 | |
Octane Receivables Trust Series 2023-1A Class A144A | 5.87 | 5-21-2029 | 377,788 | 377,794 | ||
Octane Receivables Trust Series 2023-1A Class B144A | 5.96 | 7-20-2029 | 645,000 | 643,652 | ||
Pagaya AI Debt Selection Trust Series 2021-HG1 Class A144A | 1.22 | 1-16-2029 | 518,002 | 508,391 | ||
Pagaya AI Debt Selection Trust Series 2023-1 Class A144A | 7.56 | 7-15-2030 | 1,158,510 | 1,162,947 | ||
Prodigy Finance DAC Series 2021-1A Class A (U.S. SOFR 1 Month+1.36%)144A± | 6.69 | 7-25-2051 | 917,049 | 910,285 | ||
RCKT Mortgage Trust Series 2023-CES3 Class A1A144A±± | 7.11 | 11-25-2043 | 1,856,767 | 1,876,844 | ||
Santander Bank Auto Credit-Linked Notes Series 2022-A Class D144A | 9.97 | 5-15-2032 | 2,000,000 | 2,075,846 | ||
Service Experts Issuer LLC Series 2021-1A Class A144A | 2.67 | 2-2-2032 | 1,469,132 | 1,373,928 | ||
SLM Student Loan Trust Series 2003-10A Class A4 (90 Day Average U.S. SOFR+0.93%)144A± | 6.28 | 12-17-2068 | 1,659,046 | 1,655,535 | ||
SLM Student Loan Trust Series 2013-1 Class A3 (30 Day Average U.S. SOFR+0.66%)± | 5.99 | 5-26-2055 | 503,517 | 495,927 | ||
Sound Point CLO Ltd. Series 2015-1RA Class BR (U.S. SOFR 3 Month+1.81%)144A± | 7.14 | 4-15-2030 | 2,660,000 | 2,661,393 | ||
Sound Point CLO VIII-R Ltd. Series 2015-1RA Class AR (U.S. SOFR 3 Month+1.34%)144A± | 6.67 | 4-15-2030 | 257,592 | 257,866 | ||
SpringCastle America Funding LLC Series 2020-AA Class A144A | 1.97 | 9-25-2037 | 609,508 | 555,088 | ||
Store Master Funding I-VII Series 2018-1A Class A2144A | 4.29 | 10-20-2048 | 950,529 | 903,806 | ||
THL Credit Wind River CLO Ltd. Series 2013-2A Class AR2 (U.S. SOFR 3 Month+1.26%)144A± | 6.59 | 10-18-2030 | 1,701,485 | 1,703,938 | ||
Venture XXIX CLO Ltd. Series 2017-29A Class AR (U.S. SOFR 3 Month+1.25%)144A± | 6.57 | 9-7-2030 | 1,791,175 | 1,795,816 | ||
Vibrant CLO VI Ltd. Series 2017-6A Class AR (U.S. SOFR 3 Month+1.21%)144A± | 6.54 | 6-20-2029 | 16,571 | 16,571 | ||
Zais CLO 6 Ltd. Series 2017-1A Class CR (U.S. SOFR 3 Month+2.91%)144A± | 8.24 | 7-15-2029 | 2,050,000 | 2,051,857 | ||
Total asset-backed securities (Cost $80,341,547) | 78,873,573 | |||||
Corporate bonds and notes: 30.62% | ||||||
Basic materials: 1.82% | ||||||
Chemicals: 0.94% | ||||||
International Flavors & Fragrances, Inc.144A | 1.23 | 10-1-2025 | 3,000,000 | 2,825,529 | ||
Solvay Finance America LLC144A%% | 5.65 | 6-4-2029 | 3,000,000 | 3,019,398 | ||
5,844,927 | ||||||
Mining: 0.88% | ||||||
Glencore Funding LLC144A | 5.40 | 5-8-2028 | 2,465,000 | 2,459,936 | ||
Newmont Corp./Newcrest Finance Pty. Ltd.144A | 5.30 | 3-15-2026 | 3,000,000 | 2,989,716 | ||
5,449,652 |
See accompanying notes to portfolio of investments
Allspring Short-Term Bond Plus Fund | 3
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Communications: 0.73% | ||||||
Media: 0.52% | ||||||
Charter Communications Operating LLC/Charter Communications Operating Capital | 6.10 % | 6-1-2029 | $ | 1,240,000 | $1,241,355 | |
Charter Communications Operating LLC/Charter Communications Operating Capital | 6.15 | 11-10-2026 | 2,000,000 | 2,015,620 | ||
3,256,975 | ||||||
Telecommunications: 0.21% | ||||||
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC144A | 4.74 | 3-20-2025 | 500,000 | 496,360 | ||
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC144A | 5.15 | 3-20-2028 | 800,000 | 795,261 | ||
1,291,621 | ||||||
Consumer, cyclical: 5.13% | ||||||
Airlines: 0.44% | ||||||
American Airlines Pass-Through Trust Series 2017-2 Class B | 3.70 | 10-15-2025 | 1,180,088 | 1,145,501 | ||
Delta Air Lines, Inc./SkyMiles IP Ltd.144A | 4.50 | 10-20-2025 | 1,227,500 | 1,213,760 | ||
United Airlines Pass-Through Trust Series 2020-1 Class B | 4.88 | 1-15-2026 | 408,240 | 401,074 | ||
2,760,335 | ||||||
Apparel: 0.85% | ||||||
Michael Kors USA, Inc.144A | 4.25 | 11-1-2024 | 2,241,000 | 2,214,763 | ||
Tapestry, Inc. | 7.00 | 11-27-2026 | 3,000,000 | 3,080,218 | ||
5,294,981 | ||||||
Auto manufacturers: 1.46% | ||||||
Ford Motor Credit Co. LLC | 2.30 | 2-10-2025 | 4,000,000 | 3,901,268 | ||
General Motors Financial Co., Inc. | 5.55 | 7-15-2029 | 1,260,000 | 1,254,397 | ||
Hyundai Capital America144A | 1.30 | 1-8-2026 | 1,115,000 | 1,040,954 | ||
Hyundai Capital America144A | 5.30 | 1-8-2029 | 1,800,000 | 1,784,920 | ||
Hyundai Capital America144A | 5.65 | 6-26-2026 | 1,080,000 | 1,080,016 | ||
9,061,555 | ||||||
Auto parts & equipment: 0.32% | ||||||
BorgWarner, Inc.144A | 5.00 | 10-1-2025 | 2,000,000 | 1,976,297 | ||
Entertainment: 0.38% | ||||||
Warnermedia Holdings, Inc. | 3.64 | 3-15-2025 | 1,000,000 | 983,016 | ||
Warnermedia Holdings, Inc. | 3.76 | 3-15-2027 | 1,500,000 | 1,422,467 | ||
2,405,483 | ||||||
Housewares: 0.36% | ||||||
Newell Brands, Inc. | 5.70 | 4-1-2026 | 2,250,000 | 2,221,692 | ||
Lodging: 0.70% | ||||||
Las Vegas Sands Corp. | 3.20 | 8-8-2024 | 2,155,000 | 2,149,614 | ||
Las Vegas Sands Corp. | 6.00 | 8-15-2029 | 2,200,000 | 2,208,891 | ||
4,358,505 |
See accompanying notes to portfolio of investments
4 | Allspring Short-Term Bond Plus Fund
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Retail: 0.40% | ||||||
Advance Auto Parts, Inc. | 5.95 % | 3-9-2028 | $ | 2,500,000 | $2,479,164 | |
Toys/games/hobbies: 0.22% | ||||||
Mattel, Inc.144A | 5.88 | 12-15-2027 | 1,370,000 | 1,364,993 | ||
Consumer, non-cyclical: 1.77% | ||||||
Agriculture: 0.26% | ||||||
Altria Group, Inc. | 1.70 | 6-15-2025 | 1,515,000 | 1,607,233 | ||
Beverages: 0.48% | ||||||
Coca-Cola Consolidated, Inc. | 5.25 | 6-1-2029 | 3,000,000 | 3,006,812 | ||
Commercial services: 0.56% | ||||||
Global Payments, Inc. | 4.45 | 6-1-2028 | 2,220,000 | 2,136,645 | ||
UL Solutions, Inc.144A | 6.50 | 10-20-2028 | 1,275,000 | 1,314,615 | ||
3,451,260 | ||||||
Healthcare-services: 0.47% | ||||||
CHRISTUS Health Series C | 4.34 | 7-1-2028 | 3,025,000 | 2,933,137 | ||
Financial: 16.84% | ||||||
Banks: 5.74% | ||||||
Bank of America Corp. (U.S. SOFR+0.65%)± | 1.53 | 12-6-2025 | 2,500,000 | 2,446,177 | ||
Bank of America Corp. Series N (U.S. SOFR+0.91%)± | 1.66 | 3-11-2027 | 2,370,000 | 2,215,492 | ||
Citigroup, Inc. (U.S. SOFR+1.55%)± | 5.61 | 9-29-2026 | 3,000,000 | 2,998,834 | ||
Goldman Sachs Bank USA (U.S. SOFR+0.78%)± | 5.28 | 3-18-2027 | 3,000,000 | 2,987,765 | ||
Goldman Sachs Group, Inc. (U.S. SOFR+0.91%)± | 1.95 | 10-21-2027 | 3,000,000 | 2,758,649 | ||
JPMorgan Chase & Co. (U.S. SOFR+0.49%)± | 0.77 | 8-9-2025 | 2,000,000 | 1,980,977 | ||
JPMorgan Chase & Co. (U.S. SOFR+1.33%)± | 6.07 | 10-22-2027 | 3,000,000 | 3,049,340 | ||
JPMorgan Chase & Co. (U.S. SOFR 3 Month+0.54%)± | 0.82 | 6-1-2025 | 1,220,000 | 1,220,000 | ||
JPMorgan Chase & Co. (U.S. SOFR 3 Month+0.70%)± | 1.04 | 2-4-2027 | 835,000 | 775,115 | ||
Morgan Stanley (U.S. SOFR+0.56%)± | 1.16 | 10-21-2025 | 2,000,000 | 1,963,953 | ||
Morgan Stanley (U.S. SOFR+1.73%)± | 5.12 | 2-1-2029 | 2,035,000 | 2,021,570 | ||
Morgan Stanley (U.S. SOFR+1.99%)± | 2.19 | 4-28-2026 | 2,305,000 | 2,233,188 | ||
Santander Holdings USA, Inc. (U.S. SOFR+1.38%)± | 4.26 | 6-9-2025 | 800,000 | 799,761 | ||
Santander Holdings USA, Inc. (U.S. SOFR+2.33%)± | 5.81 | 9-9-2026 | 1,250,000 | 1,243,558 | ||
Truist Financial Corp. (U.S. SOFR+2.05%)± | 6.05 | 6-8-2027 | 1,000,000 | 1,007,397 | ||
U.S. Bancorp (U.S. SOFR+2.02%)± | 5.78 | 6-12-2029 | 3,135,000 | 3,169,748 | ||
Wells Fargo & Co. (U.S. SOFR+1.51%)± | 3.53 | 3-24-2028 | 3,000,000 | 2,852,429 | ||
35,723,953 | ||||||
Diversified financial services: 2.43% | ||||||
Aircastle Ltd.144A | 6.50 | 7-18-2028 | 2,650,000 | 2,697,631 | ||
Aviation Capital Group LLC144A | 6.75 | 10-25-2028 | 1,000,000 | 1,039,147 | ||
Blackstone Holdings Finance Co. LLC144A | 5.90 | 11-3-2027 | 2,145,000 | 2,188,093 | ||
Cantor Fitzgerald LP144A | 7.20 | 12-12-2028 | 2,750,000 | 2,829,293 | ||
Capital One Financial Corp. | 0.80 | 6-12-2024 | 2,500,000 | 2,710,454 | ||
Enact Holdings, Inc.144A | 6.50 | 8-15-2025 | 3,645,000 | 3,671,426 | ||
15,136,044 |
See accompanying notes to portfolio of investments
Allspring Short-Term Bond Plus Fund | 5
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Insurance: 5.11% | ||||||
Allied World Assurance Co. Holdings Ltd. | 4.35 % | 10-29-2025 | $ | 2,880,000 | $2,815,250 | |
Athene Global Funding | 0.37 | 9-10-2026 | 2,000,000 | 2,003,301 | ||
Athene Global Funding144A | 2.72 | 1-7-2029 | 1,150,000 | 1,014,305 | ||
CNO Global Funding144A%% | 5.88 | 6-4-2027 | 1,500,000 | 1,503,673 | ||
Equitable Financial Life Global Funding144A | 5.50 | 12-2-2025 | 2,080,000 | 2,074,916 | ||
Farmers Exchange Capital144A | 7.05 | 7-15-2028 | 1,015,000 | 1,035,033 | ||
Guardian Life Global Funding144A | 5.55 | 10-28-2027 | 2,815,000 | 2,850,202 | ||
Metropolitan Life Global Funding I144A | 4.40 | 6-30-2027 | 2,000,000 | 1,960,510 | ||
Minnesota Life Insurance Co.144A | 8.25 | 9-15-2025 | 3,000,000 | 3,054,792 | ||
New York Life Global Funding144A | 4.90 | 6-13-2028 | 3,000,000 | 2,974,809 | ||
NMI Holdings, Inc. | 6.00 | 8-15-2029 | 1,405,000 | 1,389,236 | ||
Northwestern Mutual Global Funding144A | 4.90 | 6-12-2028 | 3,000,000 | 2,967,946 | ||
Pine Street Trust I144A | 4.57 | 2-15-2029 | 952,000 | 906,498 | ||
Protective Life Global Funding144A | 1.62 | 4-15-2026 | 2,370,000 | 2,208,470 | ||
RGA Global Funding144A | 5.45 | 5-24-2029 | 3,000,000 | 3,000,672 | ||
31,759,613 | ||||||
Investment Companies: 0.24% | ||||||
Ares Capital Corp. | 5.88 | 3-1-2029 | 1,490,000 | 1,473,431 | ||
REITS: 3.32% | ||||||
American Tower Corp. | 5.20 | 2-15-2029 | 2,520,000 | 2,501,145 | ||
Boston Properties LP | 3.20 | 1-15-2025 | 500,000 | 491,799 | ||
Brandywine Operating Partnership LP | 8.05 | 3-15-2028 | 1,140,000 | 1,175,518 | ||
EPR Properties | 4.50 | 4-1-2025 | 1,500,000 | 1,480,090 | ||
Omega Healthcare Investors, Inc. | 4.75 | 1-15-2028 | 1,370,000 | 1,317,327 | ||
Piedmont Operating Partnership LP | 9.25 | 7-20-2028 | 980,000 | 1,046,199 | ||
Prologis Targeted U.S. Logistics Fund LP144A | 5.25 | 4-1-2029 | 1,555,000 | 1,548,190 | ||
Sabra Health Care LP | 5.13 | 8-15-2026 | 1,490,000 | 1,461,762 | ||
SITE Centers Corp. | 4.70 | 6-1-2027 | 380,000 | 376,895 | ||
Starwood Property Trust, Inc.144A | 3.75 | 12-31-2024 | 65,000 | 63,825 | ||
Tanger Properties LP | 3.13 | 9-1-2026 | 3,109,000 | 2,918,985 | ||
VICI Properties LP | 4.38 | 5-15-2025 | 1,835,000 | 1,809,685 | ||
WEA Finance LLC144A | 2.88 | 1-15-2027 | 1,612,000 | 1,490,035 | ||
WEA Finance LLC/Westfield U.K. & Europe Finance PLC144A | 3.75 | 9-17-2024 | 3,000,000 | 2,976,295 | ||
20,657,750 | ||||||
Industrial: 1.39% | ||||||
Engineering & construction: 0.30% | ||||||
GTP Acquisition Partners I LLC Series 2015-2 Class A144A | 3.48 | 6-16-2025 | 1,900,000 | 1,852,494 | ||
Transportation: 0.48% | ||||||
TTX Co.144A | 5.50 | 9-25-2026 | 3,000,000 | 3,000,505 | ||
Trucking & leasing: 0.61% | ||||||
DAE Funding LLC144A | 1.55 | 8-1-2024 | 1,000,000 | 991,505 | ||
Penske Truck Leasing Co. LP/PTL Finance Corp.144A | 5.75 | 5-24-2026 | 1,800,000 | 1,805,996 | ||
Penske Truck Leasing Co. LP/PTL Finance Corp.144A | 6.05 | 8-1-2028 | 1,000,000 | 1,020,653 | ||
3,818,154 |
See accompanying notes to portfolio of investments
6 | Allspring Short-Term Bond Plus Fund
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Technology: 0.30% | ||||||
Computers: 0.30% | ||||||
Kyndryl Holdings, Inc. | 2.05 % | 10-15-2026 | $ | 2,010,000 | $1,852,546 | |
Utilities: 2.64% | ||||||
Electric: 2.64% | ||||||
Duke Energy Corp. | 3.10 | 6-15-2028 | 1,840,000 | 1,929,708 | ||
Emera U.S. Finance LP | 3.55 | 6-15-2026 | 2,985,000 | 2,855,920 | ||
FirstEnergy Corp. Series B | 4.15 | 7-15-2027 | 2,965,000 | 2,823,769 | ||
OGE Energy Corp. | 5.45 | 5-15-2029 | 3,000,000 | 3,007,345 | ||
Southern California Edison Co. | 5.15 | 6-1-2029 | 800,000 | 796,726 | ||
Southern California Edison Co. | 5.35 | 3-1-2026 | 2,000,000 | 1,999,441 | ||
Vistra Operations Co. LLC144A | 3.55 | 7-15-2024 | 3,000,000 | 2,990,792 | ||
16,403,701 | ||||||
Total corporate bonds and notes (Cost $191,555,849) | 190,442,813 | |||||
Foreign corporate bonds and notes: 2.04% | ||||||
Communications: 0.33% | ||||||
Telecommunications: 0.33% | ||||||
Eutelsat SA | 1.50 | 10-13-2028 | EUR | 500,000 | 429,864 | |
SES SA (EUR Swap Annual (vs. 6 Month EURIBOR) 5 Year+3.19%)ʊ± | 2.88 | 5-27-2026 | EUR | 1,625,000 | 1,660,411 | |
2,090,275 | ||||||
Consumer, cyclical: 0.77% | ||||||
Auto manufacturers: 0.20% | ||||||
Volkswagen Leasing GmbH | 0.38 | 7-20-2026 | EUR | 1,200,000 | 1,212,087 | |
Auto parts & equipment: 0.41% | ||||||
Conti-Gummi Finance BV | 1.13 | 9-25-2024 | EUR | 2,000,000 | 2,149,873 | |
Forvia SE | 7.25 | 6-15-2026 | EUR | 364,000 | 412,747 | |
2,562,620 | ||||||
Entertainment: 0.16% | ||||||
888 Acquisitions Ltd.144A | 7.56 | 7-15-2027 | EUR | 290,000 | 310,909 | |
Cirsa Finance International Sarl144A | 10.38 | 11-30-2027 | EUR | 585,000 | 680,652 | |
991,561 | ||||||
Consumer, non-cyclical: 0.44% | ||||||
Commercial services: 0.28% | ||||||
Rentokil Initial Finance BV | 3.88 | 6-27-2027 | EUR | 1,250,000 | 1,356,434 | |
Verisure Holding AB144A | 9.25 | 10-15-2027 | EUR | 300,000 | 344,967 | |
1,701,401 | ||||||
Food: 0.06% | ||||||
Iceland Bondco PLC | 10.88 | 12-15-2027 | GBP | 295,000 | 391,695 | |
Pharmaceuticals: 0.10% | ||||||
Bayer AG (EURIBOR ICE Swap Rate 11:00am+2.65%)± | 2.38 | 11-12-2079 | EUR | 600,000 | 630,262 |
See accompanying notes to portfolio of investments
Allspring Short-Term Bond Plus Fund | 7
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Financial: 0.38% | ||||||
Banks: 0.09% | ||||||
Banco BPM SpA | 0.88 % | 7-15-2026 | EUR | 540,000 | $552,657 | |
Diversified financial services: 0.04% | ||||||
Sherwood Financing PLC | 4.50 | 11-15-2026 | EUR | 245,000 | 230,002 | |
Real estate: 0.25% | ||||||
Aedas Homes Opco SL144A | 4.00 | 8-15-2026 | EUR | 1,500,000 | 1,595,185 | |
Government securities: 0.05% | ||||||
Multi-national: 0.05% | ||||||
Banque Ouest Africaine de Developpement | 2.75 | 1-22-2033 | EUR | 370,000 | 314,149 | |
Industrial: 0.07% | ||||||
Machinery-diversified: 0.07% | ||||||
Nova Alexandre III SAS (3 Month EURIBOR+5.25%)144A± | 9.11 | 7-15-2029 | EUR | 400,000 | 432,110 | |
Total foreign corporate bonds and notes (Cost $13,123,853) | 12,704,004 | |||||
Foreign government bonds: 1.86% | ||||||
Australia: 0.40% | ||||||
Australia | 2.75 | 11-21-2028 | AUD | 3,965,000 | 2,496,703 | |
Brazil: 0.54% | ||||||
Brazil¤ | 0.00 | 10-1-2025 | BRL | 20,000,000 | 3,323,335 | |
Malaysia: 0.11% | ||||||
Malaysia | 3.88 | 3-14-2025 | MYR | 3,300,000 | 703,896 | |
Spain: 0.42% | ||||||
Spain¤ | 0.00 | 1-31-2028 | EUR | 2,680,000 | 2,599,691 | |
United Kingdom: 0.39% | ||||||
U.K. Gilts | 1.63 | 10-22-2028 | GBP | 2,100,000 | 2,404,900 | |
Total foreign government bonds (Cost $11,942,918) | 11,528,525 |
Shares | ||||||
Investment companies: 0.55% | ||||||
Exchange-traded funds: 0.55% | ||||||
iShares 0-5 Year High Yield Corporate Bond ETF | 80,600 | 3,401,320 | ||||
Total investment companies (Cost $3,310,904) | 3,401,320 |
See accompanying notes to portfolio of investments
8 | Allspring Short-Term Bond Plus Fund
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Municipal obligations: 0.10% | ||||||
Indiana: 0.10% | ||||||
Education revenue: 0.10% | ||||||
Indiana Secondary Market for Education Loans, Inc. (U.S. SOFR 1 Month+0.80%)± | 6.24 % | 2-25-2044 | $ | 609,223 | $608,691 | |
Total municipal obligations (Cost $604,009) | 608,691 | |||||
Non-agency mortgage-backed securities: 10.52% | ||||||
Ajax Mortgage Loan Trust Series 2021-E Class A1144A±± | 1.74 | 12-25-2060 | 2,749,407 | 2,313,630 | ||
Angel Oak Mortgage Trust Series 2020-4 Class A1144A±± | 1.47 | 6-25-2065 | 296,556 | 275,090 | ||
Angel Oak Mortgage Trust Series 2020-R1 Class A1144A±± | 0.99 | 4-25-2053 | 401,876 | 369,715 | ||
Brean Asset-Backed Securities Trust Series 2021-RM2 Class A144A±± | 1.75 | 10-25-2061 | 1,661,617 | 1,482,984 | ||
Bunker Hill Loan Depositary Trust Series 2019-3 Class A1144A | 2.72 | 11-25-2059 | 181,235 | 176,063 | ||
BX Trust Series 2021-ARIA Class D (U.S. SOFR 1 Month+2.01%)144A± | 7.33 | 10-15-2036 | 2,165,000 | 2,127,112 | ||
BX Trust Series 2024-BIO Class C (U.S. SOFR 1 Month+2.64%)144A± | 7.96 | 2-15-2041 | 3,010,000 | 3,009,059 | ||
Cascade Funding Mortgage Trust Series 2018-RM2 Class A144A±± | 4.00 | 10-25-2068 | 151,745 | 149,695 | ||
Cascade Funding Mortgage Trust Series 2018-RM2 Class B144A±± | 4.00 | 10-25-2068 | 931,842 | 870,059 | ||
CHL Mortgage Pass-Through Trust Series 2001-HYB1 Class 2A1±± | 6.01 | 6-19-2031 | 51,637 | 50,037 | ||
COMM Mortgage Trust Series 2014-CR14 Class B±± | 3.71 | 2-10-2047 | 384,325 | 364,880 | ||
CSAIL Commercial Mortgage Trust Series 2016-C5 Class A4 | 3.49 | 11-15-2048 | 693,609 | 672,228 | ||
CSMC Trust Series 2020-AFC1 Class A3144A±± | 3.51 | 2-25-2050 | 533,292 | 497,637 | ||
CSMC Trust Series 2021-AFC1 Class A2144A±± | 1.07 | 3-25-2056 | 1,234,494 | 1,004,239 | ||
Finance of America Structured Securities Trust Series 2024-S2 Class A1144A | 3.50 | 4-25-2074 | 2,627,487 | 2,448,328 | ||
FWD Securitization Trust Series 2020-INV1 Class A3144A±± | 2.44 | 1-25-2050 | 605,706 | 554,743 | ||
GCAT Trust Series 2021-NQM1 Class A1144A±± | 0.87 | 1-25-2066 | 957,307 | 803,067 | ||
GS Mortgage Securities Corp. Trust Series 2021-DM Class A (U.S. SOFR 1 Month+1.00%)144A± | 6.32 | 11-15-2036 | 2,518,000 | 2,504,623 | ||
GS Mortgage-Backed Securities Trust Series 2024-HE1 Class A1 (30 Day Average U.S. SOFR+1.60%)144A± | 6.92 | 8-25-2054 | 3,000,000 | 3,000,000 | ||
GSMPS Mortgage Loan Trust Series 1998-1 Class A144A±± | 8.00 | 9-19-2027 | 93,656 | 88,497 | ||
Hudson’s Bay Simon JV Trust Series 2015-HB10 Class A10144A | 4.15 | 8-5-2034 | 2,215,000 | 2,059,861 | ||
Imperial Fund Mortgage Trust Series 2021-NQM3 Class A1144A±± | 1.60 | 11-25-2056 | 2,280,877 | 1,909,532 | ||
Imperial Fund Mortgage Trust Series 2022-NQM3 Class A3144A±± | 4.43 | 5-25-2067 | 4,005,000 | 3,286,030 | ||
JPMorgan Chase Commercial Mortgage Securities Trust Series 2018-PHH Class A (U.S. SOFR 1 Month+1.26%)144A± | 6.57 | 6-15-2035 | 566,915 | 531,690 | ||
JPMorgan Mortgage Trust Series 2020-2 Class A7144A±± | 3.50 | 7-25-2050 | 877,303 | 757,343 | ||
MASTR Adjustable Rate Mortgages Trust Series 2002-3 Class 4A1±± | 6.75 | 10-25-2032 | 669 | 633 | ||
Med Trust Series 2021-MDLN Class B (U.S. SOFR 1 Month+1.56%)144A± | 6.88 | 11-15-2038 | 2,985,671 | 2,976,341 |
See accompanying notes to portfolio of investments
Allspring Short-Term Bond Plus Fund | 9
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Non-agency mortgage-backed securities(continued) | ||||||
Merrill Lynch Golden National MTGE Asset Backed Certificates Series 1998-GN1 Class M2 | 8.02 % | 2-25-2027 | $ | 34,322 | $33,682 | |
MFA Trust Series 2020-NQM1 Class A2144A±± | 1.79 | 8-25-2049 | 382,143 | 354,042 | ||
MFA Trust Series 2021-NQM1 Class A2144A±± | 1.38 | 4-25-2065 | 637,528 | 576,641 | ||
Morgan Stanley Capital I Trust Series 2014-150E Class A144A | 3.91 | 9-9-2032 | 800,000 | 699,106 | ||
New Residential Mortgage Loan Trust Series 2018-5A Class A1A144A±± | 4.25 | 12-25-2057 | 1,449,333 | 1,378,005 | ||
New Residential Mortgage Loan Trust Series 2019-6A Class A1B144A±± | 3.50 | 9-25-2059 | 929,480 | 856,620 | ||
NYMT Loan Trust Series 2022-CP1 Class A1144A | 2.04 | 7-25-2061 | 2,197,256 | 1,986,576 | ||
OBX Trust Series 2019-EXP1 Class 1A3144A±± | 4.00 | 1-25-2059 | 631,142 | 601,859 | ||
OPG Trust Series 2021-PORT Class B (U.S. SOFR 1 Month+0.83%)144A± | 6.14 | 10-15-2036 | 2,990,000 | 2,952,738 | ||
PKHL Commercial Mortgage Trust Series 2021-MF Class B (U.S. SOFR 1 Month+1.29%)144A± | 6.61 | 7-15-2038 | 3,342,000 | 2,978,458 | ||
PRPM LLC Series 2024-2 Class A1144A | 7.03 | 3-25-2029 | 1,297,075 | 1,297,831 | ||
RCKT Mortgage Trust Series 2023-CES2 Class A1A144A±± | 6.81 | 9-25-2043 | 1,222,742 | 1,229,347 | ||
Ready Capital Mortgage Trust Series 2019-5 Class A144A | 3.78 | 2-25-2052 | 4,837 | 4,825 | ||
Residential Mortgage Loan Trust Series 2021-1R Class A2144A±± | 1.10 | 1-25-2065 | 177,859 | 164,598 | ||
Saluda Grade Alternative Mortgage Trust Series 2024-CES1 Class A1144A±± | 6.31 | 3-25-2054 | 3,019,481 | 3,018,654 | ||
SHER Trust Series 2024-DAL Class B (U.S. SOFR 1 Month+2.24%)144A± | 7.56 | 4-15-2037 | 3,100,000 | 3,084,683 | ||
Starwood Mortgage Residential Trust Series 2020-1 Class A3144A±± | 2.56 | 2-25-2050 | 1,067,849 | 995,751 | ||
Towd Point Mortgage Trust Series 2017-4 Class A1144A±± | 2.75 | 6-25-2057 | 265,980 | 253,467 | ||
Towd Point Mortgage Trust Series 2019-4 Class A1144A±± | 2.90 | 10-25-2059 | 730,336 | 680,037 | ||
UBS Commercial Mortgage Trust Series 2018-NYCH Class A (U.S. SOFR 1 Month+0.90%)144A± | 6.21 | 2-15-2032 | 1,238,539 | 1,234,684 | ||
Verus Securitization Trust Series 2021-2 Class A1144A±± | 1.03 | 2-25-2066 | 4,230,962 | 3,673,028 | ||
Verus Securitization Trust Series 2021-8 Class A2144A±± | 2.29 | 11-25-2066 | 1,845,617 | 1,578,756 | ||
Verus Securitization Trust Series 2021-R1 Class A2144A±± | 1.06 | 10-25-2063 | 89,837 | 82,485 | ||
Verus Securitization Trust Series 2021-R3 Class A1144A±± | 1.02 | 4-25-2064 | 788,085 | 703,092 | ||
VM Master Issuer LLC Series 2022-1 Class B144A±± | 6.88 | 5-24-2025 | 673,741 | 670,990 | ||
Wilshire Funding Corp. Series 1996-3 Class M2±± | 7.58 | 8-25-2032 | 47,308 | 47,283 | ||
Wilshire Funding Corp. Series 1996-3 Class M3±± | 7.58 | 8-25-2032 | 22,460 | 21,984 | ||
Wilshire Funding Corp. Series 1998-WFC2 Class M1 (12 Month Treasury Average+2.00%)± | 7.09 | 12-28-2037 | 2,835 | 2,787 | ||
Total non-agency mortgage-backed securities (Cost $69,436,186) | 65,445,125 | |||||
U.S. Treasury securities: 23.79% | ||||||
U.S. Treasury Notes## | 0.38 | 12-31-2025 | 63,270,000 | 58,873,229 | ||
U.S. Treasury Notes | 1.13 | 1-15-2025 | 39,905,000 | 38,905,037 | ||
U.S. Treasury Notes | 3.25 | 8-31-2024 | 23,505,000 | 23,379,441 | ||
U.S. Treasury Notes | 4.25 | 12-31-2025 | 10,500,000 | 10,378,594 |
See accompanying notes to portfolio of investments
10 | Allspring Short-Term Bond Plus Fund
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
U.S. Treasury securities(continued) | ||||||
U.S. Treasury Notes | 4.63 % | 2-28-2025 | $ | 2,480,000 | $2,468,665 | |
U.S. Treasury Notes | 5.00 | 8-31-2025 | 14,000,000 | 13,979,219 | ||
Total U.S. Treasury securities (Cost $149,307,559) | 147,984,185 | |||||
Yankee corporate bonds and notes: 12.25% | ||||||
Communications: 0.30% | ||||||
Internet: 0.30% | ||||||
Prosus NV144A | 3.26 | 1-19-2027 | 2,000,000 | 1,850,663 | ||
Consumer, non-cyclical: 0.60% | ||||||
Agriculture: 0.31% | ||||||
Viterra Finance BV144A | 4.90 | 4-21-2027 | 2,000,000 | 1,964,605 | ||
Beverages: 0.29% | ||||||
JDE Peet’s NV144A | 0.80 | 9-24-2024 | 1,810,000 | 1,780,391 | ||
Energy: 0.97% | ||||||
Oil & gas: 0.97% | ||||||
BP Capital Markets PLC (5 Year Treasury Constant Maturity+4.04%)ʊ± | 4.38 | 6-22-2025 | 3,000,000 | 2,933,486 | ||
Woodside Finance Ltd.144A | 3.65 | 3-5-2025 | 1,750,000 | 1,721,533 | ||
Woodside Finance Ltd.144A | 3.70 | 3-15-2028 | 1,500,000 | 1,404,692 | ||
6,059,711 | ||||||
Financial: 8.16% | ||||||
Banks: 6.75% | ||||||
Banco Santander SA (1 Year Treasury Constant Maturity+0.45%)± | 5.74 | 6-30-2024 | 2,000,000 | 1,998,711 | ||
Banque Federative du Credit Mutuel SA144A | 4.52 | 7-13-2025 | 3,000,000 | 2,967,916 | ||
BNP Paribas SA (U.S. SOFR+1.00%)144A± | 1.32 | 1-13-2027 | 1,545,000 | 1,440,768 | ||
BPCE SA144A | 4.75 | 7-19-2027 | 2,560,000 | 2,514,569 | ||
Danske Bank AS (1 Year Treasury Constant Maturity+0.55%)144A± | 0.98 | 9-10-2025 | 2,000,000 | 1,972,607 | ||
Danske Bank AS (1 Year Treasury Constant Maturity+2.10%)144A± | 6.47 | 1-9-2026 | 1,000,000 | 1,002,434 | ||
Deutsche Bank AG (U.S. SOFR+1.59%)± | 5.71 | 2-8-2028 | 3,045,000 | 3,038,990 | ||
Federation des Caisses Desjardins du Quebec144A | 5.25 | 4-26-2029 | 2,000,000 | 1,987,787 | ||
Federation des Caisses Desjardins du Quebec144A | 5.70 | 3-14-2028 | 1,490,000 | 1,504,010 | ||
Intesa Sanpaolo SpA Series XR144A | 3.25 | 9-23-2024 | 2,000,000 | 1,983,606 | ||
Macquarie Group Ltd. (U.S. SOFR+1.07%)144A± | 1.34 | 1-12-2027 | 1,885,000 | 1,757,835 | ||
Mitsubishi UFJ Financial Group, Inc. (1 Year Treasury Constant Maturity+1.08%)± | 5.72 | 2-20-2026 | 3,000,000 | 2,997,536 | ||
Mizuho Financial Group, Inc. (U.S. SOFR 3 Month+1.24%)± | 2.84 | 7-16-2025 | 1,000,000 | 996,365 | ||
NatWest Group PLC (1 Year Treasury Constant Maturity+1.10%)± | 5.58 | 3-1-2028 | 3,200,000 | 3,199,249 | ||
Skandinaviska Enskilda Banken AB144A | 5.38 | 3-5-2029 | 3,000,000 | 2,986,446 | ||
Swedbank AB144A | 6.14 | 9-12-2026 | 3,000,000 | 3,030,649 | ||
UBS Group AG (1 Year Treasury Constant Maturity+0.85%)144A± | 1.49 | 8-10-2027 | 2,000,000 | 1,827,765 |
See accompanying notes to portfolio of investments
Allspring Short-Term Bond Plus Fund | 11
Portfolio of investments—May 31, 2024 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Banks(continued) | ||||||
UBS Group AG (1 Year Treasury Constant Maturity+1.08%)144A± | 1.36 % | 1-30-2027 | $ | 2,000,000 | $1,859,904 | |
UBS Group AG (U.S. SOFR+2.04%)144A± | 2.19 | 6-5-2026 | 3,000,000 | 2,892,802 | ||
41,959,949 | ||||||
Diversified financial services: 0.69% | ||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust | 1.65 | 10-29-2024 | 654,000 | 642,976 | ||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust | 6.45 | 4-15-2027 | 1,665,000 | 1,704,343 | ||
Avolon Holdings Funding Ltd.144A | 5.50 | 1-15-2026 | 965,000 | 955,801 | ||
Avolon Holdings Funding Ltd.144A | 5.75 | 11-15-2029 | 1,000,000 | 992,546 | ||
4,295,666 | ||||||
Real estate: 0.41% | ||||||
Ontario Teachers’ Cadillac Fairview Properties Trust144A | 3.88 | 3-20-2027 | 2,687,000 | 2,582,326 | ||
REITS: 0.31% | ||||||
Scentre Group Trust 1/Scentre Group Trust 2144A | 3.63 | 1-28-2026 | 2,000,000 | 1,938,140 | ||
Government securities: 1.16% | ||||||
Multi-national: 1.16% | ||||||
African Export-Import Bank144A | 2.63 | 5-17-2026 | 2,185,000 | 2,040,528 | ||
Banque Ouest Africaine de Developpement144A | 5.00 | 7-27-2027 | 3,000,000 | 2,843,718 | ||
Central American Bank for Economic Integration144A | 1.14 | 2-9-2026 | 2,500,000 | 2,315,937 | ||
7,200,183 | ||||||
Industrial: 0.16% | ||||||
Trucking & leasing: 0.16% | ||||||
SMBC Aviation Capital Finance DAC144A | 5.45 | 5-3-2028 | 1,005,000 | 1,000,941 | ||
Technology: 0.90% | ||||||
Semiconductors: 0.90% | ||||||
Renesas Electronics Corp.144A | 1.54 | 11-26-2024 | 2,830,000 | 2,769,288 | ||
SK Hynix, Inc.144A | 5.50 | 1-16-2027 | 2,825,000 | 2,810,085 | ||
5,579,373 | ||||||
Total yankee corporate bonds and notes (Cost $77,244,763) | 76,211,948 |
Yield | Shares | |||||
Short-term investments: 4.66% | ||||||
Investment companies: 0.65% | ||||||
Allspring Government Money Market Fund Select Class♠∞## | 5.24 | 4,064,779 | 4,064,779 |
See accompanying notes to portfolio of investments
12 | Allspring Short-Term Bond Plus Fund
Portfolio of investments—May 31, 2024 (unaudited)
Yield | Maturity date | Principal | Value | |||
U.S. Treasury securities: 4.01% | ||||||
U.S. Treasury Bills☼ | 3.84 % | 6-11-2024 | $ | 12,500,000 | $12,485,363 | |
U.S. Treasury Bills☼ | 4.84 | 7-5-2024 | 12,500,000 | 12,441,396 | ||
24,926,759 | ||||||
Total short-term investments (Cost $28,991,618) | 28,991,538 | |||||
Total investments in securities (Cost $680,654,615) | 107.90 % | 671,086,383 | ||||
Other assets and liabilities, net | (7.90 ) | (49,124,105 ) | ||||
Total net assets | 100.00 % | $621,962,278 |
± | Variable rate investment. The rate shown is the rate in effect at period end. |
±± | 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. |
%% | The security is purchased on a when-issued basis. |
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. |
ƒ | Investment in an interest-only security that entitles holders to receive only the interest payments on the underlying mortgages. The principal amount shown is the notional amount of the underlying mortgages. The rate represents the coupon rate. |
♦ | 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. |
¤ | The security is issued in zero coupon form with no periodic interest payments. |
## | All or a portion of this security is segregated as collateral for when-issued securities. |
♠ | 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 |
FHLMC | Federal Home Loan Mortgage Corporation |
FNMA | Federal National Mortgage Association |
GBP | Great British pound |
GNMA | Government National Mortgage Association |
MYR | Malaysian ringgit |
REIT | Real estate investment trust |
RFUCCT1Y | Refinitiv USD IBOR Consumer Cash Fallbacks Term 1-year |
SOFR | Secured Overnight Financing Rate |
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 | $13,985,749 | $280,042,327 | $(289,963,297 ) | $0 | $0 | $4,064,779 | 4,064,779 | $716,178 |
See accompanying notes to portfolio of investments
Allspring Short-Term Bond Plus Fund | 13
Portfolio of investments—May 31, 2024 (unaudited)
Forward foreign currency contracts
Currency to be received | Currency to be delivered | Counterparty | Settlement date | Unrealized gains | Unrealized losses | ||
USD | 2,488,502 | AUD | 3,800,000 | Morgan Stanley Inc. | 6-28-2024 | $0 | $(41,593 ) |
USD | 24,676,626 | EUR | 22,640,000 | Morgan Stanley Inc. | 6-28-2024 | 85,423 | 0 |
EUR | 1,350,000 | USD | 1,442,935 | Morgan Stanley Inc. | 6-28-2024 | 23,413 | 0 |
USD | 625,372 | EUR | 580,000 | Morgan Stanley Inc. | 6-28-2024 | 0 | (4,615 ) |
USD | 2,283,470 | GBP | 1,795,000 | Morgan Stanley Inc. | 6-28-2024 | 0 | (4,083 ) |
JPY | 42,000,000 | USD | 282,514 | Morgan Stanley Inc. | 6-28-2024 | 0 | (14,474 ) |
USD | 669,662 | MYR | 3,160,000 | Morgan Stanley Inc. | 6-28-2024 | 0 | (2,671 ) |
$108,836 | $(67,436 ) |
Futures contracts
Description | Number of contracts | Expiration date | Notional cost | Notional value | Unrealized gains | Unrealized losses |
Long | ||||||
2-Year U.S. Treasury Notes | 1,018 | 9-30-2024 | $207,572,912 | $207,369,782 | $0 | $(203,130 ) |
Short | ||||||
2-Year Euro SCHATZ | (45 ) | 9-6-2024 | (5,138,020 ) | (5,138,577 ) | 0 | (557 ) |
5-Year Euro-BOBL Futures | (37 ) | 9-6-2024 | (4,631,281 ) | (4,632,542 ) | 0 | (1,261 ) |
10-Year U.S. Treasury Notes | (41 ) | 9-19-2024 | (4,469,531 ) | (4,460,672 ) | 8,859 | 0 |
5-Year U.S. Treasury Notes | (663 ) | 9-30-2024 | (70,154,089 ) | (70,143,328 ) | 10,761 | 0 |
$19,620 | $(204,948 ) |
See accompanying notes to portfolio of investments
14 | Allspring Short-Term Bond Plus Fund
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 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.
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 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
Allspring Short-Term Bond Plus Fund | 15
Notes to portfolio of investments—May 31, 2024 (unaudited)
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.
16 | Allspring Short-Term Bond Plus Fund
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 | $54,894,661 | $0 | $54,894,661 |
Asset-backed securities | 0 | 77,891,526 | 982,047 | 78,873,573 |
Corporate bonds and notes | 0 | 190,442,813 | 0 | 190,442,813 |
Foreign corporate bonds and notes | 0 | 12,704,004 | 0 | 12,704,004 |
Foreign government bonds | 0 | 11,528,525 | 0 | 11,528,525 |
Investment companies | 3,401,320 | 0 | 0 | 3,401,320 |
Municipal obligations | 0 | 608,691 | 0 | 608,691 |
Non-agency mortgage-backed securities | 0 | 65,445,125 | 0 | 65,445,125 |
U.S. Treasury securities | 147,984,185 | 0 | 0 | 147,984,185 |
Yankee corporate bonds and notes | 0 | 76,211,948 | 0 | 76,211,948 |
Short-term investments | ||||
Investment companies | 4,064,779 | 0 | 0 | 4,064,779 |
U.S. Treasury securities | 24,926,759 | 0 | 0 | 24,926,759 |
180,377,043 | 489,727,293 | 982,047 | 671,086,383 | |
Forward foreign currency contracts | 0 | 108,836 | 0 | 108,836 |
Futures contracts | 19,620 | 0 | 0 | 19,620 |
Total assets | $180,396,663 | $489,836,129 | $982,047 | $671,214,839 |
Liabilities | ||||
Forward foreign currency contracts | $0 | $67,436 | $0 | $67,436 |
Futures contracts | 204,948 | 0 | 0 | 204,948 |
Total liabilities | $204,948 | $67,436 | $0 | $272,384 |
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, $1,835,000 was segregated as cash collateral for these open futures contracts.
At May 31, 2024, the Fund did not have any transfers into/out of Level 3.
Allspring Short-Term Bond Plus Fund | 17