UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSRS
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-09255
Allspring Variable Trust
(Exact name of registrant as specified in charter)
1415 Vantage Park Drive, 3rd Floor, Charlotte, NC 28203
(Address of principal executive offices) (Zip code)
Matthew Prasse
Allspring Funds Management, LLC
1415 Vantage Park Drive, 3rd Floor, Charlotte, NC 28203
(Name and address of agent for service)
Registrant’s telephone number, including area code: 800-222-8222
Date of fiscal year end: December 31
Registrant is making a filing for 5 of its series: Allspring VT Discovery All Cap Growth Fund, Allspring VT Discovery SMID Cap Growth Fund, Allspring VT Index Asset Allocation Fund, Allspring VT Opportunity Fund and Allspring VT Small Cap Growth Fund
Date of reporting period: June 30, 2024
ITEM 1. REPORT TO STOCKHOLDERS
Semi-Annual Shareholder Report
VT Discovery All Cap Growth Fund
June 30, 2024
Class 1
This semi-annual shareholder report contains important information about VT Discovery All Cap Growth Fund for the period of January 1, 2024 to June 30, 2024. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-260-5969.
What were the Fund costs for the past 6 months?
The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.
CLASS NAME | COST OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
---|---|---|
Class 1 | $40 | 0.75% |
The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.
KEY FUND STATISTICS
Total net assets | $71,919,047 |
# of portfolio holdings | 51 |
Portfolio turnover rate | 27% |
Total advisory fees paid | $187,923 |
What did the Fund invest in?
(Based on long-term investments)
TOP TEN HOLDINGS (% OF NET ASSETS)
Microsoft Corp. | 12.3 |
Amazon.com, Inc. | 7.4 |
NVIDIA Corp. | 5.6 |
Meta Platforms, Inc. Class A | 4.9 |
Visa, Inc. Class A | 3.2 |
Alphabet, Inc. Class A | 3.1 |
Apple, Inc. | 2.6 |
Chipotle Mexican Grill, Inc. | 2.5 |
Eli Lilly & Co. | 2.3 |
ServiceNow, Inc. | 2.1 |
SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)
Information technology | 41.2 |
Consumer discretionary | 16.6 |
Health care | 10.6 |
Financials | 9.8 |
Industrials | 9.2 |
Communication services | 9.0 |
Materials | 2.6 |
Consumer staples | 1.0 |
For more information
You can find additional information on the Fund's website at allspringglobal.com, including its:
- Prospectus - Financial Information - Fund holdings - Proxy voting information
SAR0578 06-24
Semi-Annual Shareholder Report
VT Discovery All Cap Growth Fund
June 30, 2024
Class 2
This semi-annual shareholder report contains important information about VT Discovery All Cap Growth Fund for the period of January 1, 2024 to June 30, 2024. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-260-5969.
What were the Fund costs for the past 6 months?
The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.
CLASS NAME | COST OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
---|---|---|
Class 2 | $53 | 1.00% |
The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.
KEY FUND STATISTICS
Total net assets | $71,919,047 |
# of portfolio holdings | 51 |
Portfolio turnover rate | 27% |
Total advisory fees paid | $187,923 |
What did the Fund invest in?
(Based on long-term investments)
TOP TEN HOLDINGS (% OF NET ASSETS)
Microsoft Corp. | 12.3 |
Amazon.com, Inc. | 7.4 |
NVIDIA Corp. | 5.6 |
Meta Platforms, Inc. Class A | 4.9 |
Visa, Inc. Class A | 3.2 |
Alphabet, Inc. Class A | 3.1 |
Apple, Inc. | 2.6 |
Chipotle Mexican Grill, Inc. | 2.5 |
Eli Lilly & Co. | 2.3 |
ServiceNow, Inc. | 2.1 |
SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)
Information technology | 41.2 |
Consumer discretionary | 16.6 |
Health care | 10.6 |
Financials | 9.8 |
Industrials | 9.2 |
Communication services | 9.0 |
Materials | 2.6 |
Consumer staples | 1.0 |
For more information
You can find additional information on the Fund's website at allspringglobal.com, including its:
- Prospectus - Financial Information - Fund holdings - Proxy voting information
SAR0568 06-24
Semi-Annual Shareholder Report
VT Discovery SMID Cap Growth Fund
June 30, 2024
Class 2
This semi-annual shareholder report contains important information about VT Discovery SMID Cap Growth Fund for the period of January 1, 2024 to June 30, 2024. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-260-5969.
What were the Fund costs for the past 6 months?
The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.
CLASS NAME | COST OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
---|---|---|
Class 2 | $60 | 1.15% |
The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.
KEY FUND STATISTICS
Total net assets | $141,742,416 |
# of portfolio holdings | 73 |
Portfolio turnover rate | 32% |
Total advisory fees paid | $513,654 |
What did the Fund invest in?
(Based on long-term investments)
TOP TEN HOLDINGS (% OF NET ASSETS)
Casella Waste Systems, Inc. Class A | 2.7 |
Natera, Inc. | 2.5 |
Axon Enterprise, Inc. | 2.2 |
Onto Innovation, Inc. | 2.2 |
Tetra Tech, Inc. | 2.2 |
HealthEquity, Inc. | 2.0 |
Morningstar, Inc. | 2.0 |
TKO Group Holdings, Inc. | 2.0 |
CCC Intelligent Solutions Holdings, Inc. | 1.9 |
Saia, Inc. | 1.9 |
SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)
Industrials | 27.4 |
Information technology | 23.9 |
Health care | 20.5 |
Consumer discretionary | 13.0 |
Financials | 6.1 |
Communication services | 3.3 |
Consumer staples | 2.8 |
Materials | 1.5 |
Real estate | 1.5 |
For more information
You can find additional information on the Fund's website at allspringglobal.com, including its:
- Prospectus - Financial Information - Fund holdings - Proxy voting information
SAR3221 06-24
Semi-Annual Shareholder Report
June 30, 2024
VT Index Asset Allocation Fund
Class 2
This semi-annual shareholder report contains important information about VT Index Asset Allocation Fund for the period of January 1, 2024 to June 30, 2024. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-260-5969.
What were the Fund costs for the past 6 months?
The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.
CLASS NAME | COST OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
---|---|---|
Class 2 | $52 | 1.00% |
The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.
KEY FUND STATISTICS
Total net assets | $69,771,204 |
# of portfolio holdings | 645 |
Portfolio turnover rate | 6% |
Total advisory fees paid | $157,245 |
What did the Fund invest in?
(Based on long-term investments)
EFFECTIVE MATURITY (% OF LONG-TERM INVESTMENTS)
0-1 year | 4.3 |
1-3 years | 34.8 |
3-5 years | 24.1 |
5-10 years | 15.6 |
10-20 years | 21.2 |
TOP TEN HOLDINGS (% OF NET ASSETS)
Microsoft Corp. | 4.3 |
NVIDIA Corp. | 4.0 |
Apple, Inc. | 4.0 |
Amazon.com, Inc. | 2.3 |
U.S. Treasury Bonds, 6.00%, 2/15/2026 | 1.7 |
U.S. Treasury Bonds, 6.75%, 8/15/2026 | 1.6 |
U.S. Treasury Notes, 1.38%, 10/31/2028 | 1.6 |
Meta Platforms, Inc. Class A | 1.4 |
Alphabet, Inc. Class A | 1.4 |
Alphabet, Inc. Class C | 1.2 |
EQUITY SECTOR ALLOCATION (% OF EQUITY INVESTMENTS)
Information technology | 32.4 |
Financials | 12.4 |
Health care | 11.7 |
Consumer discretionary | 10.0 |
Communication services | 9.3 |
Industrials | 8.1 |
Consumer staples | 5.8 |
Energy | 3.6 |
Utilities | 2.3 |
Real estate | 2.2 |
Materials | 2.2 |
VT Index Asset Allocation Fund
Semi-Annual Shareholder Report | June 30, 2024
For more information
You can find additional information on the Fund's website at allspringglobal.com, including its:
- Prospectus - Financial Information - Fund holdings - Proxy voting information
SAR0360 06-24
Semi-Annual Shareholder Report
VT Opportunity Fund
June 30, 2024
Class 1
This semi-annual shareholder report contains important information about VT Opportunity Fund for the period of January 1, 2024 to June 30, 2024. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-260-5969.
What were the Fund costs for the past 6 months?
The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.
CLASS NAME | COST OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
---|---|---|
Class 1 | $38 | 0.75% |
The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.
KEY FUND STATISTICS
Total net assets | $180,868,871 |
# of portfolio holdings | 55 |
Portfolio turnover rate | 9% |
Total advisory fees paid | $552,900 |
What did the Fund invest in?
(Based on long-term investments)
TOP TEN HOLDINGS (% OF NET ASSETS)
Amazon.com, Inc. | 5.6 |
Apple, Inc. | 5.5 |
Alphabet, Inc. Class C | 5.5 |
Salesforce, Inc. | 3.9 |
Mastercard, Inc. Class A | 3.5 |
Meta Platforms, Inc. Class A | 3.3 |
Texas Instruments, Inc. | 3.0 |
HEICO Corp. Class A | 2.6 |
Carlisle Cos., Inc. | 2.1 |
Marvell Technology, Inc. | 2.1 |
SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)
Information technology | 24.1 |
Industrials | 18.6 |
Consumer discretionary | 10.5 |
Financials | 10.4 |
Health care | 9.3 |
Communication services | 9.1 |
Real estate | 8.8 |
Materials | 4.6 |
Consumer staples | 4.6 |
For more information
You can find additional information on the Fund's website at allspringglobal.com, including its:
- Prospectus - Financial Information - Fund holdings - Proxy voting information
SAR3020 06-24
Semi-Annual Shareholder Report
VT Opportunity Fund
June 30, 2024
Class 2
This semi-annual shareholder report contains important information about VT Opportunity Fund for the period of January 1, 2024 to June 30, 2024. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-260-5969.
What were the Fund costs for the past 6 months?
The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.
CLASS NAME | COST OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
---|---|---|
Class 2 | $51 | 1.00% |
The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.
KEY FUND STATISTICS
Total net assets | $180,868,871 |
# of portfolio holdings | 55 |
Portfolio turnover rate | 9% |
Total advisory fees paid | $552,900 |
What did the Fund invest in?
(Based on long-term investments)
TOP TEN HOLDINGS (% OF NET ASSETS)
Amazon.com, Inc. | 5.6 |
Apple, Inc. | 5.5 |
Alphabet, Inc. Class C | 5.5 |
Salesforce, Inc. | 3.9 |
Mastercard, Inc. Class A | 3.5 |
Meta Platforms, Inc. Class A | 3.3 |
Texas Instruments, Inc. | 3.0 |
HEICO Corp. Class A | 2.6 |
Carlisle Cos., Inc. | 2.1 |
Marvell Technology, Inc. | 2.1 |
SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)
Information technology | 24.1 |
Industrials | 18.6 |
Consumer discretionary | 10.5 |
Financials | 10.4 |
Health care | 9.3 |
Communication services | 9.1 |
Real estate | 8.8 |
Materials | 4.6 |
Consumer staples | 4.6 |
For more information
You can find additional information on the Fund's website at allspringglobal.com, including its:
- Prospectus - Financial Information - Fund holdings - Proxy voting information
SAR3222 06-24
Semi-Annual Shareholder Report
VT Small Cap Growth Fund
June 30, 2024
Class 1
This semi-annual shareholder report contains important information about VT Small Cap Growth Fund for the period of January 1, 2024 to June 30, 2024. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-260-5969.
What were the Fund costs for the past 6 months?
The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.
CLASS NAME | COST OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
---|---|---|
Class 1 | $48 | 0.92% |
The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.
KEY FUND STATISTICS
Total net assets | $311,816,913 |
# of portfolio holdings | 89 |
Portfolio turnover rate | 34% |
Total advisory fees paid | $1,211,155 |
What did the Fund invest in?
(Based on long-term investments)
TOP TEN HOLDINGS (% OF NET ASSETS)
TransMedics Group, Inc. | 3.7 |
RadNet, Inc. | 3.1 |
CyberArk Software Ltd. | 3.1 |
e.l.f. Beauty, Inc. | 3.0 |
Casella Waste Systems, Inc. Class A | 2.9 |
SPS Commerce, Inc. | 2.5 |
Glaukos Corp. | 2.4 |
BellRing Brands, Inc. | 2.4 |
Boot Barn Holdings, Inc. | 2.3 |
Comfort Systems USA, Inc. | 2.1 |
SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)
Information technology | 26.2 |
Health care | 24.3 |
Industrials | 22.8 |
Consumer discretionary | 12.5 |
Consumer staples | 7.9 |
Financials | 4.3 |
Materials | 1.6 |
Communication services | 0.4 |
For more information
You can find additional information on the Fund's website at allspringglobal.com, including its:
- Prospectus - Financial Information - Fund holdings - Proxy voting information
SAR3003 06-24
Semi-Annual Shareholder Report
VT Small Cap Growth Fund
June 30, 2024
Class 2
This semi-annual shareholder report contains important information about VT Small Cap Growth Fund for the period of January 1, 2024 to June 30, 2024. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-260-5969.
What were the Fund costs for the past 6 months?
The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.
CLASS NAME | COST OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
---|---|---|
Class 2 | $61 | 1.17% |
The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.
KEY FUND STATISTICS
Total net assets | $311,816,913 |
# of portfolio holdings | 89 |
Portfolio turnover rate | 34% |
Total advisory fees paid | $1,211,155 |
What did the Fund invest in?
(Based on long-term investments)
TOP TEN HOLDINGS (% OF NET ASSETS)
TransMedics Group, Inc. | 3.7 |
RadNet, Inc. | 3.1 |
CyberArk Software Ltd. | 3.1 |
e.l.f. Beauty, Inc. | 3.0 |
Casella Waste Systems, Inc. Class A | 2.9 |
SPS Commerce, Inc. | 2.5 |
Glaukos Corp. | 2.4 |
BellRing Brands, Inc. | 2.4 |
Boot Barn Holdings, Inc. | 2.3 |
Comfort Systems USA, Inc. | 2.1 |
SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)
Information technology | 26.2 |
Health care | 24.3 |
Industrials | 22.8 |
Consumer discretionary | 12.5 |
Consumer staples | 7.9 |
Financials | 4.3 |
Materials | 1.6 |
Communication services | 0.4 |
For more information
You can find additional information on the Fund's website at allspringglobal.com, including its:
- Prospectus - Financial Information - Fund holdings - Proxy voting information
SAR0475 06-24
ITEM 2. CODE OF ETHICS
Not applicable.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT
Not applicable.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES
Not applicable.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS
Not applicable.
ITEM 6. INVESTMENTS
(a) The registrant’s Schedule of Investments is included as part of the Financial Statements filed under Item 7(a) of this Form.
(b) Not Applicable due to no such divestments during the semi-annual period covered since the previous Form N-CSR filing.
ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES
(a) The registrant’s Financial Statements are attached herewith.
(b) The registrant’s Financial Highlights are included as part of the Financial Statements filed under Item 7(a) of this Form.
Discovery All Cap
Growth Fund
Shares | Value | |||||
Common stocks: 99.89% | ||||||
Communication services: 8.95% | ||||||
Entertainment: 0.88% | ||||||
Spotify Technology SA† | 2,028 | $636,366 | ||||
Interactive media & services: 8.07% | ||||||
Alphabet, Inc. Class A | 12,324 | 2,244,817 | ||||
Meta Platforms, Inc. Class A | 7,054 | 3,556,768 | ||||
5,801,585 | ||||||
Consumer discretionary: 16.60% | ||||||
Automobiles: 1.16% | ||||||
Ferrari NV | 2,040 | 833,075 | ||||
Broadline retail: 9.17% | ||||||
Amazon.com, Inc.† | 27,503 | 5,314,955 | ||||
MercadoLibre, Inc.† | 780 | 1,281,852 | ||||
6,596,807 | ||||||
Hotels, restaurants & leisure: 5.03% | ||||||
Booking Holdings, Inc. | 300 | 1,188,450 | ||||
Chipotle Mexican Grill, Inc.† | 29,200 | 1,829,380 | ||||
DraftKings, Inc. Class A† | 15,690 | 598,887 | ||||
3,616,717 | ||||||
Household durables: 1.24% | ||||||
PulteGroup, Inc. | 8,052 | 886,525 | ||||
Consumer staples: 0.97% | ||||||
Beverages: 0.97% | ||||||
Celsius Holdings, Inc.† | 12,230 | 698,211 | ||||
Financials: 9.83% | ||||||
Capital markets: 3.61% | ||||||
Blue Owl Capital, Inc. | 28,824 | 511,626 | ||||
S&P Global, Inc. | 2,100 | 936,600 | ||||
Tradeweb Markets, Inc. Class A | 10,870 | 1,152,220 | ||||
2,600,446 | ||||||
Financial services: 4.65% | ||||||
Fiserv, Inc.† | 6,850 | 1,020,924 | ||||
Visa, Inc. Class A | 8,843 | 2,321,022 | ||||
3,341,946 | ||||||
Insurance: 1.57% | ||||||
Progressive Corp. | 5,432 | 1,128,281 |
Shares | Value | |||||
Health care: 10.62% | ||||||
Health care equipment & supplies: 3.34% | ||||||
DexCom, Inc.† | 9,218 | $1,045,137 | ||||
Intuitive Surgical, Inc.† | 3,047 | 1,355,458 | ||||
2,400,595 | ||||||
Health care providers & services: 1.63% | ||||||
UnitedHealth Group, Inc. | 2,308 | 1,175,372 | ||||
Health care technology: 1.04% | ||||||
Veeva Systems, Inc. Class A† | 4,074 | 745,582 | ||||
Life sciences tools & services: 2.29% | ||||||
Bio-Techne Corp. | 10,093 | 723,163 | ||||
Danaher Corp. | 3,689 | 921,697 | ||||
1,644,860 | ||||||
Pharmaceuticals: 2.32% | ||||||
Eli Lilly & Co. | 1,847 | 1,672,237 | ||||
Industrials: 9.21% | ||||||
Aerospace & defense: 1.37% | ||||||
General Electric Co. | 6,212 | 987,522 | ||||
Commercial services & supplies: 3.52% | ||||||
Tetra Tech, Inc. | 5,435 | 1,111,349 | ||||
Waste Connections, Inc. | 8,094 | 1,419,364 | ||||
2,530,713 | ||||||
Electrical equipment: 1.73% | ||||||
Vertiv Holdings Co. | 14,362 | 1,243,318 | ||||
Ground transportation: 2.59% | ||||||
Old Dominion Freight Line, Inc. | 5,240 | 925,384 | ||||
Uber Technologies, Inc.† | 12,900 | 937,572 | ||||
1,862,956 | ||||||
Information technology: 41.14% | ||||||
Communications equipment: 1.87% | ||||||
Motorola Solutions, Inc. | 3,492 | 1,348,086 | ||||
Electronic equipment, instruments & components: 0.96% | ||||||
Zebra Technologies Corp. Class A† | 2,228 | 688,296 | ||||
IT services: 2.75% | ||||||
Gartner, Inc.† | 2,199 | 987,483 | ||||
Globant SA† | 3,243 | 578,097 | ||||
MongoDB, Inc.† | 1,660 | 414,934 | ||||
1,980,514 | ||||||
Semiconductors & semiconductor equipment: 13.10% | ||||||
Advanced Micro Devices, Inc.† | 7,275 | 1,180,078 |
Shares | Value | |||||
Semiconductors & semiconductor equipment(continued) | ||||||
Analog Devices, Inc. | 4,074 | $929,931 | ||||
Entegris, Inc. | 6,601 | 893,775 | ||||
KLA Corp. | 1,458 | 1,202,136 | ||||
Monolithic Power Systems, Inc. | 1,466 | 1,204,583 | ||||
NVIDIA Corp. | 32,450 | 4,008,873 | ||||
9,419,376 | ||||||
Software: 19.82% | ||||||
Cadence Design Systems, Inc.† | 3,589 | 1,104,515 | ||||
CCC Intelligent Solutions Holdings, Inc.† | 72,568 | 806,230 | ||||
Crowdstrike Holdings, Inc. Class A† | 2,694 | 1,032,314 | ||||
Datadog, Inc. Class A† | 7,181 | 931,304 | ||||
Microsoft Corp. | 19,823 | 8,859,890 | ||||
ServiceNow, Inc.† | 1,933 | 1,520,633 | ||||
14,254,886 | ||||||
Technology hardware, storage & peripherals: 2.64% | ||||||
Apple, Inc. | 9,000 | 1,895,580 | ||||
Materials: 2.57% | ||||||
Chemicals: 1.52% | ||||||
Sherwin-Williams Co. | 3,660 | 1,092,254 | ||||
Construction materials: 1.05% | ||||||
Vulcan Materials Co. | 3,040 | 755,987 | ||||
Total common stocks (Cost $36,486,486) | 71,838,093 |
Yield | ||||||
Short-term investments: 0.26% | ||||||
Investment companies: 0.26% | ||||||
Allspring Government Money Market Fund Select Class♠∞ | 5.25 % | 185,756 | 185,756 | |||
Total short-term investments (Cost $185,756) | 185,756 | |||||
Total investments in securities (Cost $36,672,242) | 100.15 % | 72,023,849 | ||||
Other assets and liabilities, net | (0.15 ) | (104,802 ) | ||||
Total net assets | 100.00 % | $71,919,047 |
† | 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. |
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 | $311,643 | $6,989,207 | $(7,115,094 ) | $0 | $0 | $185,756 | 185,756 | $12,092 |
Assets | |
Investments in unaffiliated securities, at value (cost $36,486,486) | $71,838,093 |
Investments in affiliated securities, at value (cost $185,756) | 185,756 |
Receivable for dividends | 12,450 |
Receivable for Fund shares sold | 90 |
Prepaid expenses and other assets | 1,603 |
Total assets | 72,037,992 |
Liabilities | |
Payable for Fund shares redeemed | 31,940 |
Professional fees payable | 30,782 |
Management fee payable | 30,685 |
Distribution fee payable | 6,907 |
Administration fees payable | 4,688 |
Accrued expenses and other liabilities | 13,943 |
Total liabilities | 118,945 |
Total net assets | $71,919,047 |
Net assets consist of | |
Paid-in capital | $25,336,398 |
Total distributable earnings | 46,582,649 |
Total net assets | $71,919,047 |
Computation of net asset value per share | |
Net assets–Class 1 | $34,262,240 |
Shares outstanding–Class 11 | 1,196,497 |
Net asset value per share–Class 1 | $28.64 |
Net assets–Class 2 | $37,656,807 |
Shares outstanding–Class 21 | 1,394,229 |
Net asset value per share–Class 2 | $27.01 |
Investment income | |
Dividends (net of foreign withholdings taxes of $2,121) | $163,200 |
Income from affiliated securities | 12,092 |
Interest | 4 |
Total investment income | 175,296 |
Expenses | |
Management fee | 213,301 |
Administration fees | |
Class 1 | 13,291 |
Class 2 | 15,149 |
Distribution fee | |
Class 2 | 43,178 |
Custody and accounting fees | 891 |
Professional fees | 32,325 |
Shareholder report expenses | 6,119 |
Trustees’ fees and expenses | 12,135 |
Other fees and expenses | 2,957 |
Total expenses | 339,346 |
Less: Fee waivers and/or expense reimbursements | |
Fund-level | (25,378 ) |
Net expenses | 313,968 |
Net investment loss | (138,672 ) |
Realized and unrealized gains (losses) on investments | |
Net realized gains (losses) on | |
Unaffiliated securities | 8,082,344 |
Foreign currency and foreign currency translations | (8 ) |
Net realized gains on investments | 8,082,336 |
Net change in unrealized gains (losses) on investments | 958,328 |
Net realized and unrealized gains (losses) on investments | 9,040,664 |
Net increase in net assets resulting from operations | $8,901,992 |
Six months ended June 30, 2024 (unaudited) | Year ended December 31, 2023 | |||
Operations | ||||
Net investment loss | $(138,672 ) | $(214,318 ) | ||
Net realized gains on investments | 8,082,336 | 3,436,065 | ||
Net change in unrealized gains (losses) on investments | 958,328 | 15,520,585 | ||
Net increase in net assets resulting from operations | 8,901,992 | 18,742,332 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class 1 | 0 | (2,959,369 ) | ||
Class 2 | 0 | (3,747,752 ) | ||
Total distributions to shareholders | 0 | (6,707,121 ) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class 1 | 18,517 | 508,879 | 38,434 | 889,700 |
Class 2 | 10,344 | 266,006 | 47,234 | 1,029,344 |
774,885 | 1,919,044 | |||
Reinvestment of distributions | ||||
Class 1 | 0 | 0 | 124,031 | 2,959,369 |
Class 2 | 0 | 0 | 166,124 | 3,747,752 |
0 | 6,707,121 | |||
Payment for shares redeemed | ||||
Class 1 | (91,890 ) | (2,503,716 ) | (173,842 ) | (3,985,196 ) |
Class 2 | (216,578 ) | (5,605,238 ) | (304,527 ) | (6,686,741 ) |
(8,108,954 ) | (10,671,937 ) | |||
Net decrease in net assets resulting from capital share transactions | (7,334,069 ) | (2,045,772 ) | ||
Total increase in net assets | 1,567,923 | 9,989,439 | ||
Net assets | ||||
Beginning of period | 70,351,124 | 60,361,685 | ||
End of period | $71,919,047 | $70,351,124 |
Six months ended June 30, 2024 (unaudited) | Year ended December 31 | |||||
Class 1 | 2023 | 2022 | 2021 | 2020 | 2019 | |
Net asset value, beginning of period | $25.29 | $20.88 | $43.70 | $42.28 | $31.89 | $26.27 |
Net investment loss | (0.03 )1 | (0.04 )1 | (0.08 )1 | (0.19 )1 | (0.07 ) | (0.03 )1 |
Net realized and unrealized gains (losses) on investments | 3.38 | 6.88 | (15.54 ) | 6.43 | 13.27 | 9.69 |
Total from investment operations | 3.35 | 6.84 | (15.62 ) | 6.24 | 13.20 | 9.66 |
Distributions to shareholders from | ||||||
Net realized gains | 0.00 | (2.43 ) | (7.20 ) | (4.82 ) | (2.81 ) | (4.04 ) |
Net asset value, end of period | $28.64 | $25.29 | $20.88 | $43.70 | $42.28 | $31.89 |
Total return2 | 13.25 % | 33.50 % | (37.04 )% | 15.27 % | 43.41 % | 37.39 % |
Ratios to average net assets (annualized) | ||||||
Gross expenses | 0.83 % | 0.87 % | 0.84 % | 0.78 % | 0.80 % | 0.82 % |
Net expenses | 0.75 % | 0.75 % | 0.75 % | 0.75 % | 0.75 % | 0.75 % |
Net investment loss | (0.26 )% | (0.19 )% | (0.29 )% | (0.43 )% | (0.27 )% | (0.08 )% |
Supplemental data | ||||||
Portfolio turnover rate | 27 % | 30 % | 22 % | 25 % | 24 % | 31 % |
Net assets, end of period (000s omitted) | $34,262 | $32,121 | $26,748 | $48,949 | $50,122 | $40,001 |
1 | Calculated based upon average shares outstanding |
2 | Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. Returns do not reflect fees and expenses charged pursuant to the terms of variable life insurance policies and variable annuity contracts. |
Six months ended June 30, 2024 (unaudited) | Year ended December 31 | |||||
Class 2 | 2023 | 2022 | 2021 | 2020 | 2019 | |
Net asset value, beginning of period | $23.89 | $19.87 | $41.69 | $40.43 | $30.55 | $25.23 |
Net investment loss | (0.06 )1 | (0.10 )1 | (0.14 )1 | (0.28 ) | (0.17 )1 | (0.10 )1 |
Net realized and unrealized gains (losses) on investments | 3.18 | 6.55 | (14.82 ) | 6.14 | 12.73 | 9.29 |
Total from investment operations | 3.12 | 6.45 | (14.96 ) | 5.86 | 12.56 | 9.19 |
Distributions to shareholders from | ||||||
Net realized gains | 0.00 | (2.43 ) | (6.86 ) | (4.60 ) | (2.68 ) | (3.87 ) |
Net asset value, end of period | $27.01 | $23.89 | $19.87 | $41.69 | $40.43 | $30.55 |
Total return2 | 13.06 % | 33.17 % | (37.20 )% | 14.97 % | 43.18 % | 37.04 % |
Ratios to average net assets (annualized) | ||||||
Gross expenses | 1.06 % | 1.10 % | 1.04 % | 1.02 % | 1.04 % | 1.06 % |
Net expenses | 1.00 % | 1.00 % | 0.98 % | 1.00 % | 1.00 % | 1.00 % |
Net investment loss | (0.51 )% | (0.44 )% | (0.51 )% | (0.68 )% | (0.52 )% | (0.33 )% |
Supplemental data | ||||||
Portfolio turnover rate | 27 % | 30 % | 22 % | 25 % | 24 % | 31 % |
Net assets, end of period (000s omitted) | $37,657 | $38,230 | $33,614 | $59,888 | $57,850 | $50,843 |
1 | Calculated based upon average shares outstanding |
2 | Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. Returns do not reflect fees and expenses charged pursuant to the terms of variable life insurance policies and variable annuity contracts. |
Gross unrealized gains | $36,020,293 |
Gross unrealized losses | (754,374 ) |
Net unrealized gains | $35,265,919 |
Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total | |
Assets | ||||
Investments in: | ||||
Common stocks | ||||
Communication services | $6,437,951 | $0 | $0 | $6,437,951 |
Consumer discretionary | 11,933,124 | 0 | 0 | 11,933,124 |
Consumer staples | 698,211 | 0 | 0 | 698,211 |
Financials | 7,070,673 | 0 | 0 | 7,070,673 |
Health care | 7,638,646 | 0 | 0 | 7,638,646 |
Industrials | 6,624,509 | 0 | 0 | 6,624,509 |
Information technology | 29,586,738 | 0 | 0 | 29,586,738 |
Materials | 1,848,241 | 0 | 0 | 1,848,241 |
Short-term investments | ||||
Investment companies | 185,756 | 0 | 0 | 185,756 |
Total assets | $72,023,849 | $0 | $0 | $72,023,849 |
Average daily net assets | Management fee |
First $500 million | 0.600 % |
Next $500 million | 0.550 |
Next $1 billion | 0.500 |
Next $2 billion | 0.475 |
Next $1 billion | 0.450 |
Next $5 billion | 0.440 |
Over $10 billion | 0.430 |
EXPENSE RATIO CAPS | |
Class 1 | 0.75 % |
Class 2 | 1.00 |
P.O. Box 219967
Kansas City, MO 64121-9967
Shares | Value | |||||
Common stocks: 59.70% | ||||||
Communication services: 5.58% | ||||||
Diversified telecommunication services: 0.40% | ||||||
AT&T, Inc. | 6,514 | $124,483 | ||||
Verizon Communications, Inc. | 3,824 | 157,702 | ||||
282,185 | ||||||
Entertainment: 0.73% | ||||||
Electronic Arts, Inc. | 221 | 30,792 | ||||
Live Nation Entertainment, Inc.† | 129 | 12,093 | ||||
Netflix, Inc.† | 391 | 263,878 | ||||
Take-Two Interactive Software, Inc.† | 144 | 22,391 | ||||
Walt Disney Co. | 1,656 | 164,424 | ||||
Warner Bros Discovery, Inc.† | 2,026 | 15,073 | ||||
508,651 | ||||||
Interactive media & services: 4.01% | ||||||
Alphabet, Inc. Class A | 5,337 | 972,134 | ||||
Alphabet, Inc. Class C | 4,440 | 814,385 | ||||
Match Group, Inc.† | 241 | 7,322 | ||||
Meta Platforms, Inc. Class A | 1,991 | 1,003,902 | ||||
2,797,743 | ||||||
Media: 0.32% | ||||||
Charter Communications, Inc. Class A† | 89 | 26,607 | ||||
Comcast Corp. Class A | 3,556 | 139,253 | ||||
Fox Corp. Class A | 210 | 7,218 | ||||
Fox Corp. Class B | 120 | 3,842 | ||||
Interpublic Group of Cos., Inc. | 343 | 9,978 | ||||
News Corp. Class A | 345 | 9,512 | ||||
News Corp. Class B | 104 | 2,952 | ||||
Omnicom Group, Inc. | 178 | 15,967 | ||||
Paramount Global Class B | 449 | 4,665 | ||||
219,994 | ||||||
Wireless telecommunication services: 0.12% | ||||||
T-Mobile U.S., Inc. | 468 | 82,452 | ||||
Consumer discretionary: 5.95% | ||||||
Automobile components: 0.03% | ||||||
Aptiv PLC† | 247 | 17,394 | ||||
BorgWarner, Inc. | 207 | 6,673 | ||||
24,067 | ||||||
Automobiles: 0.85% | ||||||
Ford Motor Co. | 3,563 | 44,680 | ||||
General Motors Co. | 1,037 | 48,179 | ||||
Tesla, Inc.† | 2,521 | 498,856 | ||||
591,715 |
Shares | Value | |||||
Broadline retail: 2.35% | ||||||
Amazon.com, Inc.† | 8,320 | $1,607,840 | ||||
eBay, Inc. | 460 | 24,711 | ||||
Etsy, Inc.† | 106 | 6,252 | ||||
1,638,803 | ||||||
Distributors: 0.06% | ||||||
Genuine Parts Co. | 127 | 17,567 | ||||
LKQ Corp. | 242 | 10,065 | ||||
Pool Corp. | 35 | 10,756 | ||||
38,388 | ||||||
Hotels, restaurants & leisure: 1.13% | ||||||
Airbnb, Inc. Class A† | 401 | 60,804 | ||||
Booking Holdings, Inc. | 31 | 122,806 | ||||
Caesars Entertainment, Inc.† | 197 | 7,829 | ||||
Carnival Corp.† | 918 | 17,185 | ||||
Chipotle Mexican Grill, Inc.† | 1,248 | 78,187 | ||||
Darden Restaurants, Inc. | 108 | 16,343 | ||||
Domino’s Pizza, Inc. | 32 | 16,523 | ||||
Expedia Group, Inc.† | 115 | 14,489 | ||||
Hilton Worldwide Holdings, Inc. | 227 | 49,531 | ||||
Las Vegas Sands Corp. | 332 | 14,691 | ||||
Marriott International, Inc. Class A | 218 | 52,706 | ||||
McDonald’s Corp. | 655 | 166,920 | ||||
MGM Resorts International† | 228 | 10,132 | ||||
Norwegian Cruise Line Holdings Ltd.† | 390 | 7,328 | ||||
Royal Caribbean Cruises Ltd.† | 215 | 34,277 | ||||
Starbucks Corp. | 1,029 | 80,108 | ||||
Wynn Resorts Ltd. | 86 | 7,697 | ||||
Yum! Brands, Inc. | 256 | 33,910 | ||||
791,466 | ||||||
Household durables: 0.21% | ||||||
D.R. Horton, Inc. | 269 | 37,910 | ||||
Garmin Ltd. | 140 | 22,809 | ||||
Lennar Corp. Class A | 222 | 33,271 | ||||
Mohawk Industries, Inc.† | 48 | 5,452 | ||||
NVR, Inc.† | 3 | 22,766 | ||||
PulteGroup, Inc. | 191 | 21,029 | ||||
143,237 | ||||||
Leisure products: 0.01% | ||||||
Hasbro, Inc. | 119 | 6,962 | ||||
Specialty retail: 1.09% | ||||||
AutoZone, Inc.† | 16 | 47,425 | ||||
Bath & Body Works, Inc. | 203 | 7,927 | ||||
Best Buy Co., Inc. | 175 | 14,751 | ||||
CarMax, Inc.† | 143 | 10,488 |
Shares | Value | |||||
Specialty retail(continued) | ||||||
Home Depot, Inc. | 900 | $309,816 | ||||
Lowe’s Cos., Inc. | 520 | 114,639 | ||||
O’Reilly Automotive, Inc.† | 54 | 57,027 | ||||
Ross Stores, Inc. | 305 | 44,323 | ||||
TJX Cos., Inc. | 1,029 | 113,293 | ||||
Tractor Supply Co. | 98 | 26,460 | ||||
Ulta Beauty, Inc.† | 44 | 16,978 | ||||
763,127 | ||||||
Textiles, apparel & luxury goods: 0.22% | ||||||
Deckers Outdoor Corp.† | 23 | 22,263 | ||||
lululemon athletica, Inc.† | 104 | 31,065 | ||||
NIKE, Inc. Class B | 1,101 | 82,982 | ||||
Ralph Lauren Corp. | 35 | 6,127 | ||||
Tapestry, Inc. | 209 | 8,943 | ||||
151,380 | ||||||
Consumer staples: 3.44% | ||||||
Beverages: 0.78% | ||||||
Brown-Forman Corp. Class B | 163 | 7,040 | ||||
Coca-Cola Co. | 3,523 | 224,239 | ||||
Constellation Brands, Inc. Class A | 146 | 37,563 | ||||
Keurig Dr Pepper, Inc. | 948 | 31,663 | ||||
Molson Coors Beverage Co. Class B | 165 | 8,387 | ||||
Monster Beverage Corp.† | 644 | 32,168 | ||||
PepsiCo, Inc. | 1,249 | 205,997 | ||||
547,057 | ||||||
Consumer staples distribution & retail: 1.12% | ||||||
Costco Wholesale Corp. | 403 | 342,546 | ||||
Dollar General Corp. | 200 | 26,446 | ||||
Dollar Tree, Inc.† | 188 | 20,073 | ||||
Kroger Co. | 608 | 30,357 | ||||
Sysco Corp. | 452 | 32,268 | ||||
Target Corp. | 420 | 62,177 | ||||
Walgreens Boots Alliance, Inc. | 651 | 7,874 | ||||
Walmart, Inc. | 3,881 | 262,783 | ||||
784,524 | ||||||
Food products: 0.42% | ||||||
Archer-Daniels-Midland Co. | 449 | 27,142 | ||||
Bunge Global SA | 129 | 13,773 | ||||
Campbell Soup Co. | 179 | 8,089 | ||||
Conagra Brands, Inc. | 434 | 12,334 | ||||
General Mills, Inc. | 513 | 32,452 | ||||
Hershey Co. | 134 | 24,633 | ||||
Hormel Foods Corp. | 264 | 8,049 | ||||
J M Smucker Co. | 96 | 10,468 | ||||
Kellanova | 239 | 13,786 |
Shares | Value | |||||
Food products(continued) | ||||||
Kraft Heinz Co. | 717 | $23,102 | ||||
Lamb Weston Holdings, Inc. | 131 | 11,015 | ||||
McCormick & Co., Inc. | 229 | 16,245 | ||||
Mondelez International, Inc. Class A | 1,219 | 79,771 | ||||
Tyson Foods, Inc. Class A | 260 | 14,857 | ||||
295,716 | ||||||
Household products: 0.73% | ||||||
Church & Dwight Co., Inc. | 222 | 23,017 | ||||
Clorox Co. | 113 | 15,421 | ||||
Colgate-Palmolive Co. | 745 | 72,295 | ||||
Kimberly-Clark Corp. | 306 | 42,289 | ||||
Procter & Gamble Co. | 2,144 | 353,589 | ||||
506,611 | ||||||
Personal care products: 0.08% | ||||||
Estee Lauder Cos., Inc. Class A | 212 | 22,557 | ||||
Kenvue, Inc. | 1,740 | 31,633 | ||||
54,190 | ||||||
Tobacco: 0.31% | ||||||
Altria Group, Inc. | 1,561 | 71,103 | ||||
Philip Morris International, Inc. | 1,412 | 143,078 | ||||
214,181 | ||||||
Energy: 2.18% | ||||||
Energy equipment & services: 0.17% | ||||||
Baker Hughes Co. | 907 | 31,899 | ||||
Halliburton Co. | 804 | 27,159 | ||||
Schlumberger NV | 1,299 | 61,287 | ||||
120,345 | ||||||
Oil, gas & consumable fuels: 2.01% | ||||||
APA Corp. | 327 | 9,627 | ||||
Chevron Corp. | 1,557 | 243,546 | ||||
ConocoPhillips | 1,063 | 121,586 | ||||
Coterra Energy, Inc. | 676 | 18,029 | ||||
Devon Energy Corp. | 574 | 27,208 | ||||
Diamondback Energy, Inc. | 162 | 32,431 | ||||
EOG Resources, Inc. | 522 | 65,704 | ||||
EQT Corp. | 401 | 14,829 | ||||
Exxon Mobil Corp. | 4,076 | 469,229 | ||||
Hess Corp. | 251 | 37,028 | ||||
Kinder Morgan, Inc. | 1,754 | 34,852 | ||||
Marathon Oil Corp. | 512 | 14,679 | ||||
Marathon Petroleum Corp. | 320 | 55,514 | ||||
Occidental Petroleum Corp. | 604 | 38,070 | ||||
ONEOK, Inc. | 530 | 43,221 | ||||
Phillips 66 | 385 | 54,350 |
Shares | Value | |||||
Oil, gas & consumable fuels(continued) | ||||||
Targa Resources Corp. | 201 | $25,885 | ||||
Valero Energy Corp. | 297 | 46,558 | ||||
Williams Cos., Inc. | 1,107 | 47,047 | ||||
1,399,393 | ||||||
Financials: 7.41% | ||||||
Banks: 1.92% | ||||||
Bank of America Corp. | 6,182 | 245,858 | ||||
Citigroup, Inc. | 1,733 | 109,976 | ||||
Citizens Financial Group, Inc. | 413 | 14,881 | ||||
Fifth Third Bancorp | 621 | 22,660 | ||||
Huntington Bancshares, Inc. | 1,317 | 17,358 | ||||
JPMorgan Chase & Co. | 2,609 | 527,696 | ||||
KeyCorp | 857 | 12,178 | ||||
M&T Bank Corp. | 152 | 23,007 | ||||
PNC Financial Services Group, Inc. | 362 | 56,284 | ||||
Regions Financial Corp. | 832 | 16,673 | ||||
Truist Financial Corp. | 1,216 | 47,242 | ||||
U.S. Bancorp | 1,418 | 56,295 | ||||
Wells Fargo & Co. | 3,167 | 188,088 | ||||
1,338,196 | ||||||
Capital markets: 1.68% | ||||||
Ameriprise Financial, Inc. | 90 | 38,447 | ||||
Bank of New York Mellon Corp. | 679 | 40,665 | ||||
BlackRock, Inc. | 127 | 99,990 | ||||
Blackstone, Inc. | 649 | 80,346 | ||||
Cboe Global Markets, Inc. | 96 | 16,326 | ||||
Charles Schwab Corp. | 1,356 | 99,924 | ||||
CME Group, Inc. | 327 | 64,288 | ||||
FactSet Research Systems, Inc. | 35 | 14,289 | ||||
Franklin Resources, Inc. | 272 | 6,079 | ||||
Goldman Sachs Group, Inc. | 293 | 132,530 | ||||
Intercontinental Exchange, Inc. | 521 | 71,320 | ||||
Invesco Ltd. | 409 | 6,119 | ||||
KKR & Co., Inc. | 605 | 63,670 | ||||
MarketAxess Holdings, Inc. | 34 | 6,818 | ||||
Moody’s Corp. | 143 | 60,193 | ||||
Morgan Stanley | 1,137 | 110,505 | ||||
MSCI, Inc. | 72 | 34,686 | ||||
Nasdaq, Inc. | 346 | 20,850 | ||||
Northern Trust Corp. | 186 | 15,620 | ||||
Raymond James Financial, Inc. | 169 | 20,890 | ||||
S&P Global, Inc. | 291 | 129,786 | ||||
State Street Corp. | 274 | 20,276 | ||||
T Rowe Price Group, Inc. | 203 | 23,408 | ||||
1,177,025 |
Shares | Value | |||||
Consumer finance: 0.31% | ||||||
American Express Co. | 516 | $119,480 | ||||
Capital One Financial Corp. | 347 | 48,042 | ||||
Discover Financial Services | 228 | 29,825 | ||||
Synchrony Financial | 365 | 17,224 | ||||
214,571 | ||||||
Financial services: 2.29% | ||||||
Berkshire Hathaway, Inc. Class B† | 1,645 | 669,186 | ||||
Corpay, Inc.† | 64 | 17,050 | ||||
Fidelity National Information Services, Inc. | 505 | 38,057 | ||||
Fiserv, Inc.† | 532 | 79,289 | ||||
Global Payments, Inc. | 232 | 22,435 | ||||
Jack Henry & Associates, Inc. | 66 | 10,957 | ||||
Mastercard, Inc. Class A | 746 | 329,105 | ||||
PayPal Holdings, Inc.† | 950 | 55,129 | ||||
Visa, Inc. Class A | 1,430 | 375,332 | ||||
1,596,540 | ||||||
Insurance: 1.21% | ||||||
Aflac, Inc. | 470 | 41,976 | ||||
Allstate Corp. | 240 | 38,318 | ||||
American International Group, Inc. | 603 | 44,767 | ||||
Aon PLC Class A | 198 | 58,129 | ||||
Arch Capital Group Ltd.† | 340 | 34,303 | ||||
Arthur J Gallagher & Co. | 199 | 51,603 | ||||
Assurant, Inc. | 47 | 7,814 | ||||
Brown & Brown, Inc. | 215 | 19,223 | ||||
Chubb Ltd. | 369 | 94,124 | ||||
Cincinnati Financial Corp. | 142 | 16,770 | ||||
Everest Group Ltd. | 39 | 14,860 | ||||
Globe Life, Inc. | 76 | 6,253 | ||||
Hartford Financial Services Group, Inc. | 269 | 27,045 | ||||
Loews Corp. | 165 | 12,332 | ||||
Marsh & McLennan Cos., Inc. | 448 | 94,402 | ||||
MetLife, Inc. | 543 | 38,113 | ||||
Principal Financial Group, Inc. | 196 | 15,376 | ||||
Progressive Corp. | 532 | 110,502 | ||||
Prudential Financial, Inc. | 326 | 38,204 | ||||
Travelers Cos., Inc. | 208 | 42,295 | ||||
W R Berkley Corp. | 184 | 14,459 | ||||
Willis Towers Watson PLC | 93 | 24,379 | ||||
845,247 | ||||||
Health care: 6.99% | ||||||
Biotechnology: 1.13% | ||||||
AbbVie, Inc. | 1,604 | 275,118 | ||||
Amgen, Inc. | 487 | 152,163 | ||||
Biogen, Inc.† | 132 | 30,600 | ||||
Gilead Sciences, Inc. | 1,132 | 77,667 |
Shares | Value | |||||
Biotechnology(continued) | ||||||
Incyte Corp.† | 144 | $8,729 | ||||
Moderna, Inc.† | 303 | 35,981 | ||||
Regeneron Pharmaceuticals, Inc.† | 96 | 100,899 | ||||
Vertex Pharmaceuticals, Inc.† | 234 | 109,681 | ||||
790,838 | ||||||
Health care equipment & supplies: 1.41% | ||||||
Abbott Laboratories | 1,581 | 164,282 | ||||
Align Technology, Inc.† | 64 | 15,452 | ||||
Baxter International, Inc. | 463 | 15,487 | ||||
Becton Dickinson & Co. | 263 | 61,466 | ||||
Boston Scientific Corp.† | 1,336 | 102,885 | ||||
Cooper Cos., Inc. | 181 | 15,801 | ||||
DexCom, Inc.† | 361 | 40,930 | ||||
Edwards Lifesciences Corp.† | 547 | 50,527 | ||||
GE HealthCare Technologies, Inc. | 386 | 30,077 | ||||
Hologic, Inc.† | 212 | 15,741 | ||||
IDEXX Laboratories, Inc.† | 75 | 36,540 | ||||
Insulet Corp.† | 64 | 12,915 | ||||
Intuitive Surgical, Inc.† | 322 | 143,242 | ||||
Medtronic PLC | 1,206 | 94,924 | ||||
ResMed, Inc. | 133 | 25,459 | ||||
Solventum Corp.† | 126 | 6,663 | ||||
STERIS PLC | 90 | 19,759 | ||||
Stryker Corp. | 308 | 104,797 | ||||
Teleflex, Inc. | 43 | 9,044 | ||||
Zimmer Biomet Holdings, Inc. | 187 | 20,295 | ||||
986,286 | ||||||
Health care providers & services: 1.46% | ||||||
Cardinal Health, Inc. | 221 | 21,729 | ||||
Cencora, Inc. | 150 | 33,795 | ||||
Centene Corp.† | 485 | 32,156 | ||||
Cigna Group | 258 | 85,287 | ||||
CVS Health Corp. | 1,141 | 67,387 | ||||
DaVita, Inc.† | 47 | 6,513 | ||||
Elevance Health, Inc. | 211 | 114,332 | ||||
HCA Healthcare, Inc. | 176 | 56,545 | ||||
Henry Schein, Inc.† | 116 | 7,436 | ||||
Humana, Inc. | 109 | 40,728 | ||||
Labcorp Holdings, Inc. | 77 | 15,670 | ||||
McKesson Corp. | 118 | 68,917 | ||||
Molina Healthcare, Inc.† | 53 | 15,757 | ||||
Quest Diagnostics, Inc. | 101 | 13,825 | ||||
UnitedHealth Group, Inc. | 836 | 425,741 | ||||
Universal Health Services, Inc. Class B | 54 | 9,986 | ||||
1,015,804 |
Shares | Value | |||||
Life sciences tools & services: 0.73% | ||||||
Agilent Technologies, Inc. | 266 | $34,482 | ||||
Bio-Rad Laboratories, Inc. Class A† | 19 | 5,189 | ||||
Bio-Techne Corp. | 143 | 10,246 | ||||
Charles River Laboratories International, Inc.† | 47 | 9,709 | ||||
Danaher Corp. | 599 | 149,660 | ||||
IQVIA Holdings, Inc.† | 166 | 35,099 | ||||
Mettler-Toledo International, Inc.† | 19 | 26,554 | ||||
Revvity, Inc. | 112 | 11,744 | ||||
Thermo Fisher Scientific, Inc. | 347 | 191,891 | ||||
Waters Corp.† | 54 | 15,667 | ||||
West Pharmaceutical Services, Inc. | 66 | 21,740 | ||||
511,981 | ||||||
Pharmaceuticals: 2.26% | ||||||
Bristol-Myers Squibb Co. | 1,842 | 76,498 | ||||
Catalent, Inc.† | 164 | 9,222 | ||||
Eli Lilly & Co. | 725 | 656,400 | ||||
Johnson & Johnson | 2,187 | 319,652 | ||||
Merck & Co., Inc. | 2,301 | 284,864 | ||||
Pfizer, Inc. | 5,148 | 144,041 | ||||
Viatris, Inc. | 1,082 | 11,502 | ||||
Zoetis, Inc. | 415 | 71,944 | ||||
1,574,123 | ||||||
Industrials: 4.85% | ||||||
Aerospace & defense: 1.08% | ||||||
Axon Enterprise, Inc.† | 64 | 18,831 | ||||
Boeing Co.† | 524 | 95,373 | ||||
General Dynamics Corp. | 207 | 60,059 | ||||
General Electric Co. | 995 | 158,175 | ||||
Howmet Aerospace, Inc. | 352 | 27,326 | ||||
Huntington Ingalls Industries, Inc. | 36 | 8,868 | ||||
L3Harris Technologies, Inc. | 172 | 38,628 | ||||
Lockheed Martin Corp. | 194 | 90,617 | ||||
Northrop Grumman Corp. | 126 | 54,930 | ||||
RTX Corp. | 1,208 | 121,271 | ||||
Textron, Inc. | 173 | 14,854 | ||||
TransDigm Group, Inc. | 51 | 65,158 | ||||
754,090 | ||||||
Air freight & logistics: 0.25% | ||||||
CH Robinson Worldwide, Inc. | 106 | 9,341 | ||||
Expeditors International of Washington, Inc. | 128 | 15,973 | ||||
FedEx Corp. | 206 | 61,767 | ||||
United Parcel Service, Inc. Class B | 663 | 90,731 | ||||
177,812 | ||||||
Building products: 0.29% | ||||||
A O Smith Corp. | 110 | 8,996 |
Shares | Value | |||||
Building products(continued) | ||||||
Allegion PLC | 79 | $9,334 | ||||
Builders FirstSource, Inc.† | 111 | 15,363 | ||||
Carrier Global Corp. | 761 | 48,004 | ||||
Johnson Controls International PLC | 612 | 40,680 | ||||
Masco Corp. | 200 | 13,334 | ||||
Trane Technologies PLC | 206 | 67,759 | ||||
203,470 | ||||||
Commercial services & supplies: 0.34% | ||||||
Cintas Corp. | 78 | 54,620 | ||||
Copart, Inc.† | 795 | 43,057 | ||||
Republic Services, Inc. | 186 | 36,147 | ||||
Rollins, Inc. | 255 | 12,442 | ||||
Veralto Corp. | 200 | 19,094 | ||||
Waste Management, Inc. | 332 | 70,829 | ||||
236,189 | ||||||
Construction & engineering: 0.05% | ||||||
Quanta Services, Inc. | 133 | 33,794 | ||||
Electrical equipment: 0.43% | ||||||
AMETEK, Inc. | 210 | 35,009 | ||||
Eaton Corp. PLC | 363 | 113,819 | ||||
Emerson Electric Co. | 520 | 57,283 | ||||
GE Vernova, Inc.† | 249 | 42,706 | ||||
Generac Holdings, Inc.† | 55 | 7,272 | ||||
Hubbell, Inc. | 49 | 17,909 | ||||
Rockwell Automation, Inc. | 104 | 28,629 | ||||
302,627 | ||||||
Ground transportation: 0.58% | ||||||
CSX Corp. | 1,776 | 59,407 | ||||
J.B. Hunt Transport Services, Inc. | 74 | 11,840 | ||||
Norfolk Southern Corp. | 205 | 44,012 | ||||
Old Dominion Freight Line, Inc. | 162 | 28,609 | ||||
Uber Technologies, Inc.† | 1,898 | 137,947 | ||||
Union Pacific Corp. | 554 | 125,348 | ||||
407,163 | ||||||
Industrial conglomerates: 0.26% | ||||||
3M Co. | 503 | 51,401 | ||||
Honeywell International, Inc. | 592 | 126,416 | ||||
177,817 | ||||||
Machinery: 0.96% | ||||||
Caterpillar, Inc. | 444 | 147,896 | ||||
Cummins, Inc. | 124 | 34,339 | ||||
Deere & Co. | 235 | 87,803 | ||||
Dover Corp. | 125 | 22,556 |
Shares | Value | |||||
Machinery(continued) | ||||||
Fortive Corp. | 320 | $23,712 | ||||
IDEX Corp. | 69 | 13,883 | ||||
Illinois Tool Works, Inc. | 247 | 58,529 | ||||
Ingersoll Rand, Inc. | 367 | 33,338 | ||||
Nordson Corp. | 49 | 11,365 | ||||
Otis Worldwide Corp. | 367 | 35,327 | ||||
PACCAR, Inc. | 476 | 49,000 | ||||
Parker-Hannifin Corp. | 117 | 59,180 | ||||
Pentair PLC | 151 | 11,577 | ||||
Snap-on, Inc. | 48 | 12,547 | ||||
Stanley Black & Decker, Inc. | 140 | 11,185 | ||||
Westinghouse Air Brake Technologies Corp. | 160 | 25,288 | ||||
Xylem, Inc. | 220 | 29,839 | ||||
667,364 | ||||||
Passenger airlines: 0.09% | ||||||
American Airlines Group, Inc.† | 596 | 6,753 | ||||
Delta Air Lines, Inc. | 586 | 27,800 | ||||
Southwest Airlines Co. | 544 | 15,564 | ||||
United Airlines Holdings, Inc.† | 299 | 14,549 | ||||
64,666 | ||||||
Professional services: 0.36% | ||||||
Automatic Data Processing, Inc. | 372 | 88,793 | ||||
Broadridge Financial Solutions, Inc. | 107 | 21,079 | ||||
Dayforce, Inc.† | 143 | 7,093 | ||||
Equifax, Inc. | 112 | 27,155 | ||||
Jacobs Solutions, Inc. | 114 | 15,927 | ||||
Leidos Holdings, Inc. | 123 | 17,943 | ||||
Paychex, Inc. | 291 | 34,501 | ||||
Paycom Software, Inc. | 44 | 6,294 | ||||
Verisk Analytics, Inc. | 130 | 35,041 | ||||
253,826 | ||||||
Trading companies & distributors: 0.16% | ||||||
Fastenal Co. | 520 | 32,677 | ||||
United Rentals, Inc. | 61 | 39,450 | ||||
WW Grainger, Inc. | 40 | 36,090 | ||||
108,217 | ||||||
Information technology: 19.37% | ||||||
Communications equipment: 0.48% | ||||||
Arista Networks, Inc.† | 231 | 80,961 | ||||
Cisco Systems, Inc. | 3,679 | 174,789 | ||||
F5, Inc.† | 53 | 9,128 | ||||
Juniper Networks, Inc. | 295 | 10,756 | ||||
Motorola Solutions, Inc. | 152 | 58,680 | ||||
334,314 |
Shares | Value | |||||
Electronic equipment, instruments & components: 0.35% | ||||||
Amphenol Corp. Class A | 1,091 | $73,501 | ||||
CDW Corp. | 122 | 27,308 | ||||
Corning, Inc. | 700 | 27,195 | ||||
Jabil, Inc. | 110 | 11,967 | ||||
Keysight Technologies, Inc.† | 159 | 21,743 | ||||
TE Connectivity Ltd. | 278 | 41,820 | ||||
Teledyne Technologies, Inc.† | 43 | 16,683 | ||||
Trimble, Inc.† | 222 | 12,414 | ||||
Zebra Technologies Corp. Class A† | 47 | 14,520 | ||||
247,151 | ||||||
IT services: 0.62% | ||||||
Accenture PLC Class A | 571 | 173,247 | ||||
Akamai Technologies, Inc.† | 138 | 12,431 | ||||
Cognizant Technology Solutions Corp. Class A | 452 | 30,736 | ||||
EPAM Systems, Inc.† | 53 | 9,970 | ||||
Gartner, Inc.† | 71 | 31,883 | ||||
GoDaddy, Inc. Class A† | 128 | 17,883 | ||||
International Business Machines Corp. | 835 | 144,413 | ||||
VeriSign, Inc.† | 79 | 14,046 | ||||
434,609 | ||||||
Semiconductors & semiconductor equipment: 7.18% | ||||||
Advanced Micro Devices, Inc.† | 1,469 | 238,287 | ||||
Analog Devices, Inc. | 451 | 102,945 | ||||
Applied Materials, Inc. | 755 | 178,172 | ||||
Broadcom, Inc. | 396 | 635,790 | ||||
Enphase Energy, Inc.† | 124 | 12,364 | ||||
First Solar, Inc.† | 97 | 21,870 | ||||
Intel Corp. | 3,868 | 119,792 | ||||
KLA Corp. | 122 | 100,590 | ||||
Lam Research Corp. | 119 | 126,717 | ||||
Microchip Technology, Inc. | 491 | 44,927 | ||||
Micron Technology, Inc. | 1,006 | 132,319 | ||||
Monolithic Power Systems, Inc. | 44 | 36,154 | ||||
NVIDIA Corp. | 22,349 | 2,760,995 | ||||
NXP Semiconductors NV | 232 | 62,429 | ||||
ON Semiconductor Corp.† | 391 | 26,803 | ||||
Qorvo, Inc.† | 88 | 10,212 | ||||
QUALCOMM, Inc. | 1,016 | 202,367 | ||||
Skyworks Solutions, Inc. | 146 | 15,561 | ||||
Teradyne, Inc. | 142 | 21,057 | ||||
Texas Instruments, Inc. | 827 | 160,876 | ||||
5,010,227 | ||||||
Software: 6.56% | ||||||
Adobe, Inc.† | 407 | 226,105 | ||||
ANSYS, Inc.† | 79 | 25,398 | ||||
Autodesk, Inc.† | 194 | 48,005 |
Shares | Value | |||||
Software(continued) | ||||||
Cadence Design Systems, Inc.† | 247 | $76,014 | ||||
Crowdstrike Holdings, Inc. Class A† | 210 | 80,470 | ||||
Fair Isaac Corp.† | 22 | 32,751 | ||||
Fortinet, Inc.† | 576 | 34,716 | ||||
Gen Digital, Inc. | 501 | 12,515 | ||||
Intuit, Inc. | 254 | 166,931 | ||||
Microsoft Corp. | 6,753 | 3,018,253 | ||||
Oracle Corp. | 1,448 | 204,458 | ||||
Palo Alto Networks, Inc.† | 294 | 99,669 | ||||
PTC, Inc.† | 109 | 19,802 | ||||
Roper Technologies, Inc. | 97 | 54,675 | ||||
Salesforce, Inc. | 882 | 226,762 | ||||
ServiceNow, Inc.† | 186 | 146,321 | ||||
Synopsys, Inc.† | 139 | 82,713 | ||||
Tyler Technologies, Inc.† | 39 | 19,608 | ||||
4,575,166 | ||||||
Technology hardware, storage & peripherals: 4.18% | ||||||
Apple, Inc. | 13,096 | 2,758,279 | ||||
Hewlett Packard Enterprise Co. | 1,181 | 25,002 | ||||
HP, Inc. | 784 | 27,456 | ||||
NetApp, Inc. | 188 | 24,214 | ||||
Seagate Technology Holdings PLC | 177 | 18,279 | ||||
Super Micro Computer, Inc.† | 46 | 37,690 | ||||
Western Digital Corp.† | 297 | 22,504 | ||||
2,913,424 | ||||||
Materials: 1.29% | ||||||
Chemicals: 0.85% | ||||||
Air Products & Chemicals, Inc. | 202 | 52,126 | ||||
Albemarle Corp. | 107 | 10,221 | ||||
Celanese Corp. | 91 | 12,275 | ||||
CF Industries Holdings, Inc. | 166 | 12,304 | ||||
Corteva, Inc. | 633 | 34,144 | ||||
Dow, Inc. | 639 | 33,899 | ||||
DuPont de Nemours, Inc. | 380 | 30,586 | ||||
Eastman Chemical Co. | 107 | 10,483 | ||||
Ecolab, Inc. | 231 | 54,978 | ||||
FMC Corp. | 113 | 6,503 | ||||
International Flavors & Fragrances, Inc. | 232 | 22,089 | ||||
Linde PLC | 437 | 191,760 | ||||
LyondellBasell Industries NV Class A | 234 | 22,384 | ||||
Mosaic Co. | 292 | 8,439 | ||||
PPG Industries, Inc. | 214 | 26,940 | ||||
Sherwin-Williams Co. | 212 | 63,267 | ||||
592,398 |
Shares | Value | |||||
Construction materials: 0.09% | ||||||
Martin Marietta Materials, Inc. | 56 | $30,341 | ||||
Vulcan Materials Co. | 120 | 29,842 | ||||
60,183 | ||||||
Containers & packaging: 0.12% | ||||||
Amcor PLC | 1,313 | 12,841 | ||||
Avery Dennison Corp. | 73 | 15,962 | ||||
Ball Corp. | 282 | 16,926 | ||||
International Paper Co. | 316 | 13,635 | ||||
Packaging Corp. of America | 81 | 14,787 | ||||
Westrock Co. | 235 | 11,811 | ||||
85,962 | ||||||
Metals & mining: 0.23% | ||||||
Freeport-McMoRan, Inc. | 1,305 | 63,423 | ||||
Newmont Corp. | 1,048 | 43,880 | ||||
Nucor Corp. | 218 | 34,461 | ||||
Steel Dynamics, Inc. | 134 | 17,353 | ||||
159,117 | ||||||
Real estate: 1.29% | ||||||
Health care REITs: 0.15% | ||||||
Alexandria Real Estate Equities, Inc. | 143 | 16,727 | ||||
Healthpeak Properties, Inc. | 639 | 12,524 | ||||
Ventas, Inc. | 368 | 18,864 | ||||
Welltower, Inc. | 543 | 56,608 | ||||
104,723 | ||||||
Hotel & resort REITs: 0.02% | ||||||
Host Hotels & Resorts, Inc. | 641 | 11,525 | ||||
Industrial REITs : 0.14% | ||||||
Prologis, Inc. | 841 | 94,453 | ||||
Office REITs : 0.01% | ||||||
Boston Properties, Inc. | 131 | 8,064 | ||||
Real estate management & development: 0.08% | ||||||
CBRE Group, Inc. Class A† | 274 | 24,416 | ||||
CoStar Group, Inc.† | 371 | 27,506 | ||||
51,922 | ||||||
Residential REITs : 0.17% | ||||||
AvalonBay Communities, Inc. | 129 | 26,689 | ||||
Camden Property Trust | 97 | 10,584 | ||||
Equity Residential | 313 | 21,703 | ||||
Essex Property Trust, Inc. | 58 | 15,788 | ||||
Invitation Homes, Inc. | 523 | 18,770 |
Shares | Value | |||||
Residential REITs (continued) | ||||||
Mid-America Apartment Communities, Inc. | 106 | $15,117 | ||||
UDR, Inc. | 275 | 11,316 | ||||
119,967 | ||||||
Retail REITs : 0.16% | ||||||
Federal Realty Investment Trust | 68 | 6,866 | ||||
Kimco Realty Corp. | 606 | 11,793 | ||||
Realty Income Corp. | 791 | 41,780 | ||||
Regency Centers Corp. | 149 | 9,268 | ||||
Simon Property Group, Inc. | 296 | 44,933 | ||||
114,640 | ||||||
Specialized REITs : 0.56% | ||||||
American Tower Corp. | 424 | 82,417 | ||||
Crown Castle, Inc. | 395 | 38,591 | ||||
Digital Realty Trust, Inc. | 295 | 44,855 | ||||
Equinix, Inc. | 86 | 65,067 | ||||
Extra Space Storage, Inc. | 192 | 29,839 | ||||
Iron Mountain, Inc. | 266 | 23,839 | ||||
Public Storage | 144 | 41,422 | ||||
SBA Communications Corp. | 98 | 19,237 | ||||
VICI Properties, Inc. | 948 | 27,151 | ||||
Weyerhaeuser Co. | 662 | 18,794 | ||||
391,212 | ||||||
Utilities: 1.35% | ||||||
Electric utilities: 0.89% | ||||||
Alliant Energy Corp. | 233 | 11,860 | ||||
American Electric Power Co., Inc. | 479 | 42,027 | ||||
Constellation Energy Corp. | 286 | 57,277 | ||||
Duke Energy Corp. | 701 | 70,261 | ||||
Edison International | 350 | 25,134 | ||||
Entergy Corp. | 194 | 20,758 | ||||
Evergy, Inc. | 209 | 11,071 | ||||
Eversource Energy | 320 | 18,147 | ||||
Exelon Corp. | 909 | 31,461 | ||||
FirstEnergy Corp. | 471 | 18,025 | ||||
NextEra Energy, Inc. | 1,867 | 132,202 | ||||
NRG Energy, Inc. | 189 | 14,716 | ||||
PG&E Corp. | 1,942 | 33,907 | ||||
Pinnacle West Capital Corp. | 103 | 7,867 | ||||
PPL Corp. | 670 | 18,526 | ||||
Southern Co. | 993 | 77,027 | ||||
Xcel Energy, Inc. | 505 | 26,972 | ||||
617,238 | ||||||
Gas utilities: 0.02% | ||||||
Atmos Energy Corp. | 137 | 15,981 |
Shares | Value | |||||
Independent power and renewable electricity producers: 0.05% | ||||||
AES Corp. | 646 | $11,350 | ||||
Vistra Corp. | 297 | 25,536 | ||||
36,886 | ||||||
Multi-utilities: 0.36% | ||||||
Ameren Corp. | 242 | 17,209 | ||||
CenterPoint Energy, Inc. | 581 | 17,999 | ||||
CMS Energy Corp. | 271 | 16,133 | ||||
Consolidated Edison, Inc. | 314 | 28,078 | ||||
Dominion Energy, Inc. | 762 | 37,338 | ||||
DTE Energy Co. | 188 | 20,870 | ||||
NiSource, Inc. | 407 | 11,726 | ||||
Public Service Enterprise Group, Inc. | 453 | 33,386 | ||||
Sempra | 575 | 43,734 | ||||
WEC Energy Group, Inc. | 287 | 22,518 | ||||
248,991 | ||||||
Water utilities: 0.03% | ||||||
American Water Works Co., Inc. | 177 | 22,861 | ||||
Total common stocks (Cost $17,797,996) | 41,650,847 |
Interest rate | Maturity date | Principal | ||||
U.S. Treasury securities: 34.03% | ||||||
U.S. Treasury Bonds | 1.13 % | 5-15-2040 | $ | 1,060,000 | 652,273 | |
U.S. Treasury Bonds | 1.38 | 11-15-2040 | 87,000 | 54,895 | ||
U.S. Treasury Bonds | 1.38 | 8-15-2050 | 151,000 | 77,275 | ||
U.S. Treasury Bonds | 1.63 | 11-15-2050 | 87,000 | 47,633 | ||
U.S. Treasury Bonds | 1.88 | 2-15-2041 | 664,000 | 454,347 | ||
U.S. Treasury Bonds | 1.88 | 2-15-2051 | 221,000 | 129,061 | ||
U.S. Treasury Bonds | 1.88 | 11-15-2051 | 105,000 | 60,949 | ||
U.S. Treasury Bonds | 2.00 | 8-15-2051 | 629,000 | 377,842 | ||
U.S. Treasury Bonds | 2.25 | 5-15-2041 | 201,000 | 145,427 | ||
U.S. Treasury Bonds | 2.25 | 8-15-2046 | 106,000 | 70,660 | ||
U.S. Treasury Bonds | 2.25 | 8-15-2049 | 108,000 | 69,803 | ||
U.S. Treasury Bonds | 2.25 | 2-15-2052 | 615,000 | 391,774 | ||
U.S. Treasury Bonds | 2.38 | 5-15-2051 | 224,000 | 147,525 | ||
U.S. Treasury Bonds | 2.50 | 2-15-2046 | 106,000 | 74,689 | ||
U.S. Treasury Bonds | 2.50 | 5-15-2046 | 105,000 | 73,787 | ||
U.S. Treasury Bonds | 2.75 | 8-15-2047 | 101,000 | 73,572 | ||
U.S. Treasury Bonds | 2.75 | 11-15-2047 | 100,000 | 72,703 | ||
U.S. Treasury Bonds | 2.88 | 8-15-2045 | 115,000 | 87,342 | ||
U.S. Treasury Bonds | 2.88 | 11-15-2046 | 154,000 | 115,584 | ||
U.S. Treasury Bonds | 3.00 | 11-15-2044 | 114,000 | 89,031 | ||
U.S. Treasury Bonds | 3.00 | 5-15-2045 | 116,000 | 90,163 | ||
U.S. Treasury Bonds | 3.00 | 11-15-2045 | 115,000 | 89,044 | ||
U.S. Treasury Bonds | 3.00 | 2-15-2047 | 106,000 | 81,239 | ||
U.S. Treasury Bonds | 3.00 | 5-15-2047 | 104,000 | 79,552 |
Interest rate | Maturity date | Principal | Value | |||
U.S. Treasury securities(continued) | ||||||
U.S. Treasury Bonds | 3.00 % | 2-15-2048 | $ | 114,000 | $86,742 | |
U.S. Treasury Bonds | 3.00 | 8-15-2048 | 121,000 | 91,804 | ||
U.S. Treasury Bonds | 3.00 | 2-15-2049 | 140,000 | 106,045 | ||
U.S. Treasury Bonds | 3.13 | 11-15-2041 | 37,000 | 30,483 | ||
U.S. Treasury Bonds | 3.13 | 5-15-2048 | 123,000 | 95,652 | ||
U.S. Treasury Bonds | 3.38 | 5-15-2044 | 110,000 | 91,644 | ||
U.S. Treasury Bonds | 3.38 | 11-15-2048 | 250,000 | 203,037 | ||
U.S. Treasury Bonds | 3.50 | 2-15-2039 | 29,000 | 26,094 | ||
U.S. Treasury Bonds | 3.75 | 8-15-2041 | 36,000 | 32,511 | ||
U.S. Treasury Bonds | 3.88 | 8-15-2040 | 37,000 | 34,313 | ||
U.S. Treasury Bonds | 4.25 | 5-15-2039 | 31,000 | 30,295 | ||
U.S. Treasury Bonds | 4.25 | 11-15-2040 | 40,000 | 38,750 | ||
U.S. Treasury Bonds | 4.25 | 2-15-2054 | 200,000 | 190,438 | ||
U.S. Treasury Bonds | 4.38 | 2-15-2038 | 133,000 | 132,777 | ||
U.S. Treasury Bonds | 4.38 | 11-15-2039 | 35,000 | 34,605 | ||
U.S. Treasury Bonds | 4.38 | 5-15-2040 | 35,000 | 34,528 | ||
U.S. Treasury Bonds | 4.38 | 5-15-2041 | 33,000 | 32,362 | ||
U.S. Treasury Bonds | 4.50 | 2-15-2036 | 26,000 | 26,484 | ||
U.S. Treasury Bonds | 4.50 | 5-15-2038 | 21,000 | 21,204 | ||
U.S. Treasury Bonds | 4.50 | 8-15-2039 | 33,000 | 33,111 | ||
U.S. Treasury Bonds | 4.63 | 2-15-2040 | 38,000 | 38,606 | ||
U.S. Treasury Bonds | 4.75 | 2-15-2037 | 103,000 | 106,903 | ||
U.S. Treasury Bonds | 4.75 | 2-15-2041 | 44,000 | 45,189 | ||
U.S. Treasury Bonds | 5.00 | 5-15-2037 | 102,000 | 108,287 | ||
U.S. Treasury Bonds | 5.25 | 11-15-2028 | 45,000 | 46,557 | ||
U.S. Treasury Bonds | 5.25 | 2-15-2029 | 583,000 | 605,819 | ||
U.S. Treasury Bonds | 5.38 | 2-15-2031 | 31,000 | 32,969 | ||
U.S. Treasury Bonds | 5.50 | 8-15-2028 | 35,000 | 36,549 | ||
U.S. Treasury Bonds | 6.00 | 2-15-2026 | 1,152,000 | 1,174,500 | ||
U.S. Treasury Bonds | 6.13 | 11-15-2027 | 49,000 | 51,561 | ||
U.S. Treasury Bonds | 6.13 | 8-15-2029 | 25,000 | 27,020 | ||
U.S. Treasury Bonds | 6.25 | 5-15-2030 | 21,000 | 23,036 | ||
U.S. Treasury Bonds | 6.38 | 8-15-2027 | 21,000 | 22,150 | ||
U.S. Treasury Bonds | 6.50 | 11-15-2026 | 28,000 | 29,479 | ||
U.S. Treasury Bonds | 6.63 | 2-15-2027 | 108,000 | 113,919 | ||
U.S. Treasury Bonds | 6.75 | 8-15-2026 | 1,100,000 | 1,149,285 | ||
U.S. Treasury Bonds | 6.88 | 8-15-2025 | 446,000 | 456,314 | ||
U.S. Treasury Notes | 0.25 | 5-31-2025 | 132,000 | 126,221 | ||
U.S. Treasury Notes | 0.25 | 6-30-2025 | 142,000 | 135,340 | ||
U.S. Treasury Notes | 0.25 | 7-31-2025 | 147,000 | 139,598 | ||
U.S. Treasury Notes | 0.25 | 8-31-2025 | 153,000 | 144,758 | ||
U.S. Treasury Notes | 0.25 | 10-31-2025 | 176,000 | 165,406 | ||
U.S. Treasury Notes | 0.38 | 11-30-2025 | 306,000 | 287,078 | ||
U.S. Treasury Notes | 0.38 | 1-31-2026 | 450,000 | 419,396 | ||
U.S. Treasury Notes | 0.38 | 9-30-2027 | 155,000 | 135,891 | ||
U.S. Treasury Notes | 0.50 | 2-28-2026 | 193,000 | 179,716 | ||
U.S. Treasury Notes | 0.50 | 5-31-2027 | 291,000 | 259,297 | ||
U.S. Treasury Notes | 0.50 | 8-31-2027 | 142,000 | 125,376 |
Interest rate | Maturity date | Principal | Value | |||
U.S. Treasury securities(continued) | ||||||
U.S. Treasury Notes | 0.50 % | 10-31-2027 | $ | 783,000 | $687,297 | |
U.S. Treasury Notes | 0.63 | 3-31-2027 | 81,000 | 72,862 | ||
U.S. Treasury Notes | 0.63 | 11-30-2027 | 574,000 | 504,627 | ||
U.S. Treasury Notes | 0.63 | 5-15-2030 | 613,000 | 495,500 | ||
U.S. Treasury Notes | 0.63 | 8-15-2030 | 222,000 | 177,912 | ||
U.S. Treasury Notes | 0.75 | 4-30-2026 | 486,000 | 452,018 | ||
U.S. Treasury Notes | 0.75 | 5-31-2026 | 194,000 | 179,912 | ||
U.S. Treasury Notes | 0.88 | 11-15-2030 | 132,000 | 106,770 | ||
U.S. Treasury Notes | 1.00 | 7-31-2028 | 315,000 | 275,145 | ||
U.S. Treasury Notes | 1.13 | 2-28-2027 | 127,000 | 116,126 | ||
U.S. Treasury Notes | 1.25 | 4-30-2028 | 25,000 | 22,213 | ||
U.S. Treasury Notes | 1.25 | 9-30-2028 | 785,000 | 689,819 | ||
U.S. Treasury Notes | 1.25 | 8-15-2031 | 351,000 | 284,858 | ||
U.S. Treasury Notes | 1.38 | 8-31-2026 | 95,000 | 88,569 | ||
U.S. Treasury Notes | 1.38 | 10-31-2028 | 1,255,000 | 1,106,655 | ||
U.S. Treasury Notes | 1.38 | 11-15-2031 | 940,000 | 764,631 | ||
U.S. Treasury Notes | 1.50 | 8-15-2026 | 102,000 | 95,450 | ||
U.S. Treasury Notes | 1.50 | 1-31-2027 | 98,000 | 90,696 | ||
U.S. Treasury Notes | 1.50 | 2-15-2030 | 209,000 | 179,381 | ||
U.S. Treasury Notes | 1.63 | 2-15-2026 | 168,000 | 159,580 | ||
U.S. Treasury Notes | 1.63 | 5-15-2026 | 105,000 | 99,135 | ||
U.S. Treasury Notes | 1.63 | 10-31-2026 | 94,000 | 87,784 | ||
U.S. Treasury Notes | 1.63 | 11-30-2026 | 97,000 | 90,392 | ||
U.S. Treasury Notes | 1.63 | 8-15-2029 | 157,000 | 137,577 | ||
U.S. Treasury Notes | 1.75 | 12-31-2026 | 99,000 | 92,395 | ||
U.S. Treasury Notes | 1.75 | 11-15-2029 | 178,000 | 156,341 | ||
U.S. Treasury Notes | 1.88 | 6-30-2026 | 98,000 | 92,748 | ||
U.S. Treasury Notes | 1.88 | 7-31-2026 | 99,000 | 93,485 | ||
U.S. Treasury Notes | 2.00 | 8-15-2025 | 220,000 | 212,721 | ||
U.S. Treasury Notes | 2.00 | 11-15-2026 | 170,000 | 159,973 | ||
U.S. Treasury Notes | 2.13 | 5-15-2025 | 234,000 | 227,940 | ||
U.S. Treasury Notes | 2.13 | 5-31-2026 | 97,000 | 92,370 | ||
U.S. Treasury Notes | 2.25 | 11-15-2025 | 219,000 | 211,172 | ||
U.S. Treasury Notes | 2.25 | 3-31-2026 | 99,000 | 94,793 | ||
U.S. Treasury Notes | 2.25 | 2-15-2027 | 196,000 | 184,784 | ||
U.S. Treasury Notes | 2.25 | 8-15-2027 | 101,000 | 94,368 | ||
U.S. Treasury Notes | 2.25 | 11-15-2027 | 99,000 | 92,093 | ||
U.S. Treasury Notes | 2.38 | 4-30-2026 | 98,000 | 93,896 | ||
U.S. Treasury Notes | 2.38 | 5-15-2027 | 164,000 | 154,455 | ||
U.S. Treasury Notes | 2.38 | 3-31-2029 | 200,000 | 182,961 | ||
U.S. Treasury Notes | 2.38 | 5-15-2029 | 90,000 | 82,188 | ||
U.S. Treasury Notes | 2.50 | 2-28-2026 | 97,000 | 93,385 | ||
U.S. Treasury Notes | 2.63 | 1-31-2026 | 95,000 | 91,753 | ||
U.S. Treasury Notes | 2.63 | 2-15-2029 | 181,000 | 167,793 | ||
U.S. Treasury Notes | 2.75 | 6-30-2025 | 119,000 | 116,278 | ||
U.S. Treasury Notes | 2.75 | 8-31-2025 | 122,000 | 118,840 | ||
U.S. Treasury Notes | 2.75 | 2-15-2028 | 189,000 | 178,199 | ||
U.S. Treasury Notes | 2.75 | 8-15-2032 | 680,000 | 605,120 |
Interest rate | Maturity date | Principal | Value | |||
U.S. Treasury securities(continued) | ||||||
U.S. Treasury Notes | 2.88 % | 4-30-2025 | $ | 114,000 | $111,859 | |
U.S. Treasury Notes | 2.88 | 5-31-2025 | 117,000 | 114,593 | ||
U.S. Treasury Notes | 2.88 | 6-15-2025 | 100,000 | 97,882 | ||
U.S. Treasury Notes | 2.88 | 7-31-2025 | 118,000 | 115,280 | ||
U.S. Treasury Notes | 2.88 | 11-30-2025 | 96,000 | 93,330 | ||
U.S. Treasury Notes | 2.88 | 5-15-2028 | 178,000 | 168,161 | ||
U.S. Treasury Notes | 2.88 | 8-15-2028 | 190,000 | 179,016 | ||
U.S. Treasury Notes | 3.00 | 10-31-2025 | 76,000 | 74,079 | ||
U.S. Treasury Notes | 3.13 | 11-15-2028 | 226,000 | 214,603 | ||
U.S. Treasury Notes | 3.50 | 2-15-2033 | 115,000 | 107,786 | ||
U.S. Treasury Notes | 3.88 | 4-30-2025 | 100,000 | 98,924 | ||
U.S. Treasury Notes | 3.88 | 8-15-2033 | 460,000 | 442,534 | ||
U.S. Treasury Notes | 4.13 | 11-15-2032 | 110,000 | 108,148 | ||
Total U.S. Treasury securities (Cost $25,932,384) | 23,746,424 |
Yield | Shares | |||||
Short-term investments: 4.26% | ||||||
Investment companies: 4.26% | ||||||
Allspring Government Money Market Fund Select Class♠∞ | 5.25 | 2,971,658 | 2,971,658 | |||
Total short-term investments (Cost $2,971,658) | 2,971,658 | |||||
Total investments in securities (Cost $46,702,038) | 97.99 % | 68,368,929 | ||||
Other assets and liabilities, net | 2.01 | 1,402,275 | ||||
Total net assets | 100.00 % | $69,771,204 |
† | 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. |
Abbreviations: | |
REIT | Real estate investment trust |
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 | $2,872,731 | $4,882,312 | $(4,783,385 ) | $0 | $0 | $2,971,658 | 2,971,658 | $78,946 |
Description | Number of contracts | Expiration date | Notional cost | Notional value | Unrealized gains | Unrealized losses |
Long | ||||||
10-Year U.S. Treasury Notes | 4 | 9-19-2024 | $437,430 | $439,937 | $2,507 | $0 |
U.S. Long Term Bond | 5 | 9-19-2024 | 588,688 | 591,562 | 2,874 | 0 |
Ultra 10-Year U.S. Treasury Notes | 42 | 9-19-2024 | 4,786,836 | 4,768,312 | 0 | (18,524 ) |
Ultra Long Term U.S. Treasury Bond | 2 | 9-19-2024 | 247,926 | 250,688 | 2,762 | 0 |
E-Mini S&P 500 Index | 21 | 9-20-2024 | 5,778,172 | 5,797,575 | 19,403 | 0 |
Micro E-Mini S&P 500 | 11 | 9-20-2024 | 302,839 | 303,683 | 844 | 0 |
2-Year U.S. Treasury Notes | 2 | 9-30-2024 | 407,225 | 408,438 | 1,213 | 0 |
5-Year U.S. Treasury Notes | 9 | 9-30-2024 | 954,524 | 959,203 | 4,679 | 0 |
$34,282 | $(18,524 ) |
Assets | |
Investments in unaffiliated securities, at value (cost $43,730,380) | $65,397,271 |
Investments in affiliated securities, at value (cost $2,971,658) | 2,971,658 |
Cash at broker segregated for futures contracts | 464,531 |
Receivable for investments sold | 860,500 |
Receivable for dividends and interest | 231,572 |
Receivable for Fund shares sold | 61 |
Prepaid expenses and other assets | 13,781 |
Total assets | 69,939,374 |
Liabilities | |
Payable for daily variation margin on open futures contracts | 55,839 |
Payable for Fund shares redeemed | 35,880 |
Professional fees payable | 30,196 |
Management fee payable | 26,461 |
Distribution fee payable | 13,940 |
Administration fee payable | 4,562 |
Overdraft due to custodian bank | 92 |
Accrued expenses and other liabilities | 1,200 |
Total liabilities | 168,170 |
Total net assets | $69,771,204 |
Net assets consist of | |
Paid-in capital | $42,168,845 |
Total distributable earnings | 27,602,359 |
Total net assets | $69,771,204 |
Computation of net asset value per share | |
Net assets - Class 2 | $69,771,204 |
Shares outstanding - Class 21 | 3,459,894 |
Net asset value per share - Class 2 | $20.17 |
Investment income | |
Interest | $373,512 |
Dividends (net of foreign withholdings taxes of $74) | 290,122 |
Income from affiliated securities | 78,946 |
Total investment income | 742,580 |
Expenses | |
Management fee | 202,170 |
Administration fee - Class 2 | 26,956 |
Distribution fee - Class 2 | 82,340 |
Custody and accounting fees | 4,406 |
Professional fees | 32,740 |
Shareholder report expenses | 7,945 |
Trustees’ fees and expenses | 12,293 |
Other fees and expenses | 13,024 |
Total expenses | 381,874 |
Less: Fee waivers and/or expense reimbursements | |
Fund-level | (44,925 ) |
Net expenses | 336,949 |
Net investment income | 405,631 |
Realized and unrealized gains (losses) on investments | |
Net realized gains on | |
Unaffiliated securities | 2,664,531 |
Futures contracts | 693,663 |
Net realized gains on investments | 3,358,194 |
Net change in unrealized gains (losses) on | |
Unaffiliated securities | 2,366,953 |
Futures contracts | (396,009 ) |
Net change in unrealized gains (losses) on investments | 1,970,944 |
Net realized and unrealized gains (losses) on investments | 5,329,138 |
Net increase in net assets resulting from operations | $5,734,769 |
Six months ended June 30, 2024 (unaudited) | Year ended December 31, 2023 | |||
Operations | ||||
Net investment income | $405,631 | $698,865 | ||
Net realized gains on investments | 3,358,194 | 3,928,291 | ||
Net change in unrealized gains (losses) on investments | 1,970,944 | 5,307,247 | ||
Net increase in net assets resulting from operations | 5,734,769 | 9,934,403 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains - Class 2 | (530,009 ) | (2,620,046 ) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold - Class 2 | 54,153 | 1,048,457 | 43,882 | 772,754 |
Reinvestment of distributions - Class 2 | 26,751 | 530,009 | 146,868 | 2,620,046 |
Payment for shares redeemed - Class 2 | (188,774 ) | (3,654,112 ) | (375,390 ) | (6,592,835 ) |
Net decrease in net assets resulting from capital share transactions | (2,075,646 ) | (3,200,035 ) | ||
Total increase in net assets | 3,129,114 | 4,114,322 | ||
Net assets | ||||
Beginning of period | 66,642,090 | 62,527,768 | ||
End of period | $69,771,204 | $66,642,090 |
Six months ended June 30, 2024 (unaudited) | Year ended December 31 | |||||
Class 2 | 2023 | 2022 | 2021 | 2020 | 2019 | |
Net asset value, beginning of period | $18.68 | $16.66 | $22.91 | $21.88 | $20.55 | $18.42 |
Net investment income | 0.12 1 | 0.19 1 | 0.14 | 0.10 | 0.16 | 0.22 |
Net realized and unrealized gains (losses) on investments | 1.52 | 2.55 | (3.95 ) | 3.25 | 3.04 | 3.42 |
Total from investment operations | 1.64 | 2.74 | (3.81 ) | 3.35 | 3.20 | 3.64 |
Distributions to shareholders from | ||||||
Net investment income | (0.15 ) | (0.17 ) | (0.12 ) | (0.13 ) | (0.17 ) | (0.22 ) |
Net realized gains | 0.00 | (0.55 ) | (2.32 ) | (2.19 ) | (1.70 ) | (1.29 ) |
Total distributions to shareholders | (0.15 ) | (0.72 ) | (2.44 ) | (2.32 ) | (1.87 ) | (1.51 ) |
Net asset value, end of period | $20.17 | $18.68 | $16.66 | $22.91 | $21.88 | $20.55 |
Total return2 | 8.80 % | 16.70 % | (17.02 )% | 16.00 % | 16.59 % | 20.16 % |
Ratios to average net assets (annualized) | ||||||
Gross expenses | 1.13 % | 1.14 % | 1.15 % | 1.13 % | 1.14 % | 1.05 % |
Net expenses | 1.00 % | 1.00 % | 1.00 % | 1.00 % | 1.00 % | 1.00 % |
Net investment income | 1.20 % | 1.09 % | 0.72 % | 0.46 % | 0.78 % | 1.07 % |
Supplemental data | ||||||
Portfolio turnover rate | 6 % | 13 % | 9 % | 7 % | 21 % | 4 % |
Net assets, end of period (000s omitted) | $69,771 | $66,642 | $62,528 | $83,069 | $78,791 | $72,193 |
1 | Calculated based upon average shares outstanding |
2 | Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. Returns do not reflect fees and expenses charged pursuant to the terms of variable life insurance policies and variable annuity contracts. |
Gross unrealized gains | $24,688,497 |
Gross unrealized losses | (4,878,079 ) |
Net unrealized gains | $19,810,418 |
Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total | |
Assets | ||||
Investments in: | ||||
Common stocks | ||||
Communication services | $3,891,025 | $0 | $0 | $3,891,025 |
Consumer discretionary | 4,149,145 | 0 | 0 | 4,149,145 |
Consumer staples | 2,402,279 | 0 | 0 | 2,402,279 |
Energy | 1,519,738 | 0 | 0 | 1,519,738 |
Financials | 5,171,579 | 0 | 0 | 5,171,579 |
Health care | 4,879,032 | 0 | 0 | 4,879,032 |
Industrials | 3,387,035 | 0 | 0 | 3,387,035 |
Information technology | 13,514,891 | 0 | 0 | 13,514,891 |
Materials | 897,660 | 0 | 0 | 897,660 |
Real estate | 896,506 | 0 | 0 | 896,506 |
Utilities | 941,957 | 0 | 0 | 941,957 |
U.S. Treasury securities | 23,746,424 | 0 | 0 | 23,746,424 |
Short-term investments | ||||
Investment companies | 2,971,658 | 0 | 0 | 2,971,658 |
68,368,929 | 0 | 0 | 68,368,929 | |
Futures contracts | 34,282 | 0 | 0 | 34,282 |
Total assets | $68,403,211 | $0 | $0 | $68,403,211 |
Liabilities | ||||
Futures contracts | $18,524 | $0 | $0 | $18,524 |
Total liabilities | $18,524 | $0 | $0 | $18,524 |
Average daily net assets | Management fee |
First $500 million | 0.600 % |
Next $500 million | 0.550 |
Next $2 billion | 0.500 |
Next $2 billion | 0.475 |
Next $5 billion | 0.440 |
Over $10 billion | 0.430 |
Purchases at cost | Sales proceeds | ||
U.S. government | Non-U.S. government | U.S. government | Non-U.S. government |
$3,311,734 | $498,273 | $2,333,180 | $3,991,241 |
Interest rate risk | Equity risk | Total | |
Asset derivatives | |||
Futures contracts | $14,035 * | $20,247 * | $34,282 |
Liability derivatives | |||
Futures contracts | $18,524 * | $0 * | $18,524 |
* | Amount represents the cumulative unrealized gains (losses) as reported in the table following the Portfolio of Investments. For futures contracts, only the current day’s variation margin as of June 30, 2024 is reported separately on the Statement of Assets and Liabilities. |
INTEREST RATE RISK | Equity risk | TOTAL | |
Net realized gains (losses) on derivatives | |||
Futures contracts | $(72,142 ) | $765,805 | $693,663 |
Net change in unrealized gains (losses) on derivatives | |||
Futures contracts | $(207,817 ) | $(188,192 ) | $(396,009 ) |
P.O. Box 219967
Kansas City, MO 64121-9967
Discovery SMID Cap
Growth Fund
Shares | Value | |||||
Common stocks: 98.21% | ||||||
Communication services: 3.26% | ||||||
Entertainment: 3.26% | ||||||
Liberty Media Corp.-Liberty Live Class C† | 48,278 | $1,847,599 | ||||
TKO Group Holdings, Inc. Class A | 25,700 | 2,775,343 | ||||
4,622,942 | ||||||
Consumer discretionary: 12.79% | ||||||
Broadline retail: 2.94% | ||||||
Global-E Online Ltd.† | 58,489 | 2,121,396 | ||||
MercadoLibre, Inc.† | 1,243 | 2,042,746 | ||||
4,164,142 | ||||||
Hotels, restaurants & leisure: 5.64% | ||||||
DraftKings, Inc. Class A† | 48,500 | 1,851,245 | ||||
Dutch Bros, Inc. Class A† | 16,800 | 700,307 | ||||
Hyatt Hotels Corp. Class A | 9,900 | 1,504,008 | ||||
Sweetgreen, Inc. Class A† | 46,900 | 1,413,566 | ||||
Wingstop, Inc. | 6,000 | 2,535,960 | ||||
8,005,086 | ||||||
Household durables: 1.27% | ||||||
Taylor Morrison Home Corp.† | 32,500 | 1,801,800 | ||||
Specialty retail: 1.92% | ||||||
Burlington Stores, Inc.† | 6,800 | 1,632,000 | ||||
Wayfair, Inc. Class A† | 20,600 | 1,086,238 | ||||
2,718,238 | ||||||
Textiles, apparel & luxury goods: 1.02% | ||||||
On Holding AG Class A† | 37,200 | 1,443,360 | ||||
Consumer staples: 2.71% | ||||||
Beverages: 1.13% | ||||||
Celsius Holdings, Inc.† | 28,200 | 1,609,938 | ||||
Personal care products: 1.58% | ||||||
e.l.f. Beauty, Inc.† | 10,600 | 2,233,632 | ||||
Financials: 5.97% | ||||||
Capital markets: 4.27% | ||||||
Blue Owl Capital, Inc. | 83,900 | 1,489,225 | ||||
Morningstar, Inc. | 9,400 | 2,780,990 | ||||
Tradeweb Markets, Inc. Class A | 16,800 | 1,780,800 | ||||
6,051,015 | ||||||
Financial services: 1.70% | ||||||
Jack Henry & Associates, Inc. | 14,500 | 2,407,290 |
Shares | Value | |||||
Health care: 20.17% | ||||||
Biotechnology: 7.30% | ||||||
Ascendis Pharma AS ADR† | 8,548 | $1,165,776 | ||||
Halozyme Therapeutics, Inc.† | 27,400 | 1,434,664 | ||||
Insmed, Inc.† | 15,400 | 1,031,800 | ||||
Krystal Biotech, Inc.† | 5,100 | 936,564 | ||||
Natera, Inc.† | 32,700 | 3,541,083 | ||||
Neurocrine Biosciences, Inc.† | 9,500 | 1,307,865 | ||||
Vaxcyte, Inc.† | 12,300 | 928,773 | ||||
10,346,525 | ||||||
Health care equipment & supplies: 5.00% | ||||||
Glaukos Corp.† | 11,100 | 1,313,685 | ||||
iRhythm Technologies, Inc.† | 19,200 | 2,066,688 | ||||
Penumbra, Inc.† | 8,900 | 1,601,733 | ||||
TransMedics Group, Inc.† | 14,000 | 2,108,680 | ||||
7,090,786 | ||||||
Health care providers & services: 4.11% | ||||||
HealthEquity, Inc.† | 32,400 | 2,792,880 | ||||
Option Care Health, Inc.† | 56,200 | 1,556,740 | ||||
RadNet, Inc.† | 25,100 | 1,478,892 | ||||
5,828,512 | ||||||
Life sciences tools & services: 3.76% | ||||||
Bio-Techne Corp. | 29,500 | 2,113,675 | ||||
Medpace Holdings, Inc.† | 4,500 | 1,853,325 | ||||
Repligen Corp.† | 10,800 | 1,361,448 | ||||
5,328,448 | ||||||
Industrials: 26.97% | ||||||
Aerospace & defense: 3.38% | ||||||
AAR Corp.† | 22,132 | 1,608,996 | ||||
Axon Enterprise, Inc.† | 10,800 | 3,177,792 | ||||
4,786,788 | ||||||
Building products: 1.38% | ||||||
Advanced Drainage Systems, Inc. | 12,214 | 1,959,003 | ||||
Commercial services & supplies: 7.40% | ||||||
Casella Waste Systems, Inc. Class A† | 38,434 | 3,813,422 | ||||
RB Global, Inc. | 24,700 | 1,886,092 | ||||
Rollins, Inc. | 34,900 | 1,702,771 | ||||
Tetra Tech, Inc. | 15,100 | 3,087,648 | ||||
10,489,933 | ||||||
Construction & engineering: 2.97% | ||||||
EMCOR Group, Inc. | 6,800 | 2,482,544 | ||||
Sterling Infrastructure, Inc.† | 14,600 | 1,727,764 | ||||
4,210,308 |
Shares | Value | |||||
Electrical equipment: 1.47% | ||||||
Vertiv Holdings Co. | 24,100 | $2,086,337 | ||||
Ground transportation: 1.88% | ||||||
Saia, Inc.† | 5,600 | 2,656,024 | ||||
Machinery: 2.47% | ||||||
Esab Corp. | 17,700 | 1,671,411 | ||||
RBC Bearings, Inc.† | 6,800 | 1,834,504 | ||||
3,505,915 | ||||||
Professional services: 1.47% | ||||||
Parsons Corp.† | 25,400 | 2,077,974 | ||||
Trading companies & distributors: 4.55% | ||||||
Applied Industrial Technologies, Inc. | 13,000 | 2,522,000 | ||||
SiteOne Landscape Supply, Inc.† | 14,061 | 1,707,146 | ||||
Watsco, Inc. | 4,800 | 2,223,552 | ||||
6,452,698 | ||||||
Information technology: 23.44% | ||||||
Electronic equipment, instruments & components: 3.06% | ||||||
Novanta, Inc.† | 15,400 | 2,511,894 | ||||
Teledyne Technologies, Inc.† | 4,700 | 1,823,506 | ||||
4,335,400 | ||||||
IT services: 2.60% | ||||||
Globant SA† | 13,400 | 2,388,684 | ||||
MongoDB, Inc.† | 5,200 | 1,299,792 | ||||
3,688,476 | ||||||
Semiconductors & semiconductor equipment: 6.04% | ||||||
Entegris, Inc. | 16,400 | 2,220,560 | ||||
Impinj, Inc.† | 10,200 | 1,599,054 | ||||
Monolithic Power Systems, Inc. | 2,000 | 1,643,360 | ||||
Onto Innovation, Inc.† | 14,100 | 3,095,796 | ||||
8,558,770 | ||||||
Software: 11.74% | ||||||
CCC Intelligent Solutions Holdings, Inc.† | 243,800 | 2,708,618 | ||||
Clearwater Analytics Holdings, Inc. Class A† | 123,800 | 2,292,776 | ||||
Descartes Systems Group, Inc.† | 20,300 | 1,965,852 | ||||
Dynatrace, Inc.† | 49,900 | 2,232,526 | ||||
Procore Technologies, Inc.† | 25,100 | 1,664,381 | ||||
Samsara, Inc. Class A† | 36,000 | 1,213,200 | ||||
Sprout Social, Inc. Class A† | 26,700 | 952,656 | ||||
Tyler Technologies, Inc.† | 4,700 | 2,363,066 | ||||
Zscaler, Inc.† | 6,500 | 1,249,235 | ||||
16,642,310 |
Shares | Value | |||||
Materials: 1.45% | ||||||
Metals & mining: 1.45% | ||||||
ATI, Inc.† | 37,000 | $2,051,650 | ||||
Real estate: 1.45% | ||||||
Industrial REITs : 1.45% | ||||||
Rexford Industrial Realty, Inc. | 46,100 | 2,055,599 | ||||
Total common stocks (Cost $113,855,391) | 139,208,899 |
Yield | ||||||
Short-term investments: 0.98% | ||||||
Investment companies: 0.98% | ||||||
Allspring Government Money Market Fund Select Class♠∞ | 5.25 % | 1,385,526 | 1,385,526 | |||
Total short-term investments (Cost $1,385,526) | 1,385,526 | |||||
Total investments in securities (Cost $115,240,917) | 99.19 % | 140,594,425 | ||||
Other assets and liabilities, net | 0.81 | 1,147,991 | ||||
Total net assets | 100.00 % | $141,742,416 |
† | 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. |
Abbreviations: | |
ADR | American depositary receipt |
REIT | Real estate investment trust |
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 | $2,933,293 | $17,205,053 | $(18,752,820 ) | $0 | $0 | $1,385,526 | 1,385,526 | $80,450 |
Assets | |
Investments in unaffiliated securities, at value (cost $113,855,391) | $139,208,899 |
Investments in affiliated securities, at value (cost $1,385,526) | 1,385,526 |
Receivable for investments sold | 3,180,623 |
Receivable for Fund shares sold | 59,594 |
Receivable for dividends | 35,376 |
Prepaid expenses and other assets | 313 |
Total assets | 143,870,331 |
Liabilities | |
Payable for investments purchased | 1,912,530 |
Management fee payable | 85,700 |
Payable for Fund shares redeemed | 59,279 |
Distribution fee payable | 28,743 |
Administration fee payable | 9,235 |
Accrued expenses and other liabilities | 32,428 |
Total liabilities | 2,127,915 |
Total net assets | $141,742,416 |
Net assets consist of | |
Paid-in capital | $127,896,996 |
Total distributable earnings | 13,845,420 |
Total net assets | $141,742,416 |
Computation of net asset value per share | |
Net assets - Class 2 | $141,742,416 |
Shares outstanding - Class 21 | 6,382,811 |
Net asset value per share - Class 2 | $22.21 |
Investment income | |
Dividends (net of foreign withholdings taxes of $1,920) | $198,448 |
Income from affiliated securities | 80,450 |
Interest | 15 |
Total investment income | 278,913 |
Expenses | |
Management fee | 521,593 |
Administration fee - Class 2 | 55,636 |
Distribution fee - Class 2 | 173,051 |
Custody and accounting fees | 2,049 |
Professional fees | 31,291 |
Shareholder report expenses | 7,729 |
Trustees’ fees and expenses | 12,477 |
Other fees and expenses | 3,888 |
Total expenses | 807,714 |
Less: Fee waivers and/or expense reimbursements | |
Fund-level | (7,939 ) |
Net expenses | 799,775 |
Net investment loss | (520,862 ) |
Realized and unrealized gains (losses) on investments | |
Net realized gains on investments | 6,045,221 |
Net change in unrealized gains (losses) on investments | 5,886,848 |
Net realized and unrealized gains (losses) on investments | 11,932,069 |
Net increase in net assets resulting from operations | $11,411,207 |
Six months ended June 30, 2024 (unaudited) | Year ended December 31, 2023 | |||
Operations | ||||
Net investment loss | $(520,862 ) | $(904,412 ) | ||
Net realized gains (losses) on investments | 6,045,221 | (8,866,702 ) | ||
Net change in unrealized gains (losses) on investments | 5,886,848 | 34,144,066 | ||
Net increase in net assets resulting from operations | 11,411,207 | 24,372,952 | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold - Class 2 | 177,394 | 3,899,410 | 281,719 | 5,342,811 |
Payment for shares redeemed - Class 2 | (467,103 ) | (10,072,026 ) | (1,080,067 ) | (20,455,322 ) |
Net decrease in net assets resulting from capital share transactions | (6,172,616 ) | (15,112,511 ) | ||
Total increase in net assets | 5,238,591 | 9,260,441 | ||
Net assets | ||||
Beginning of period | 136,503,825 | 127,243,384 | ||
End of period | $141,742,416 | $136,503,825 |
Six months ended June 30, 2024 (unaudited) | Year ended December 31 | |||||
Class 2 | 2023 | 2022 | 2021 | 2020 | 2019 | |
Net asset value, beginning of period | $20.46 | $17.03 | $42.74 | $48.73 | $32.85 | $26.14 |
Net investment loss | (0.08 )1 | (0.13 )1 | (0.18 ) | (0.48 ) | (0.34 ) | (0.25 ) |
Net realized and unrealized gains (losses) on investments | 1.83 | 3.56 | (15.32 ) | (1.89 ) | 19.54 | 10.47 |
Total from investment operations | 1.75 | 3.43 | (15.50 ) | (2.37 ) | 19.20 | 10.22 |
Distributions to shareholders from | ||||||
Net realized gains | 0.00 | 0.00 | (10.21 ) | (3.62 ) | (3.32 ) | (3.51 ) |
Net asset value, end of period | $22.21 | $20.46 | $17.03 | $42.74 | $48.73 | $32.85 |
Total return2 | 8.55 % | 20.14 % | (37.85 )% | (5.04 )% | 62.65 % | 39.02 % |
Ratios to average net assets (annualized) | ||||||
Gross expenses | 1.16 % | 1.16 % | 1.16 % | 1.13 % | 1.14 % | 1.16 % |
Net expenses | 1.15 % | 1.14 % | 1.15 % | 1.13 % | 1.14 % | 1.15 % |
Net investment loss | (0.75 )% | (0.68 )% | (0.91 )% | (1.03 )% | (0.93 )% | (0.79 )% |
Supplemental data | ||||||
Portfolio turnover rate | 32 % | 53 % | 51 % | 57 % | 47 % | 71 % |
Net assets, end of period (000s omitted) | $141,742 | $136,504 | $127,243 | $220,823 | $255,954 | $168,489 |
1 | Calculated based upon average shares outstanding |
2 | Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. Returns do not reflect fees and expenses charged pursuant to the terms of variable life insurance policies and variable annuity contracts. |
Gross unrealized gains | $29,702,545 |
Gross unrealized losses | (5,529,389 ) |
Net unrealized gains | $24,173,156 |
Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total | |
Assets | ||||
Investments in: | ||||
Common stocks | ||||
Communication services | $4,622,942 | $0 | $0 | $4,622,942 |
Consumer discretionary | 18,132,626 | 0 | 0 | 18,132,626 |
Consumer staples | 3,843,570 | 0 | 0 | 3,843,570 |
Financials | 8,458,305 | 0 | 0 | 8,458,305 |
Health care | 28,594,271 | 0 | 0 | 28,594,271 |
Industrials | 38,224,980 | 0 | 0 | 38,224,980 |
Information technology | 33,224,956 | 0 | 0 | 33,224,956 |
Materials | 2,051,650 | 0 | 0 | 2,051,650 |
Real estate | 2,055,599 | 0 | 0 | 2,055,599 |
Short-term investments | ||||
Investment companies | 1,385,526 | 0 | 0 | 1,385,526 |
Total assets | $140,594,425 | $0 | $0 | $140,594,425 |
Average daily net assets | Management fee |
First $500 million | 0.750 % |
Next $500 million | 0.700 |
Next $1 billion | 0.650 |
Next $2 billion | 0.625 |
Next $1 billion | 0.600 |
Next $5 billion | 0.590 |
Over $10 billion | 0.580 |
P.O. Box 219967
Kansas City, MO 64121-9967
Shares | Value | |||||
Common stocks: 96.76% | ||||||
Communication services: 8.78% | ||||||
Interactive media & services: 8.78% | ||||||
Alphabet, Inc. Class C | 53,848 | $9,876,800 | ||||
Meta Platforms, Inc. Class A | 11,895 | 5,997,697 | ||||
15,874,497 | ||||||
Consumer discretionary: 10.16% | ||||||
Broadline retail: 5.59% | ||||||
Amazon.com, Inc.† | 52,391 | 10,124,561 | ||||
Hotels, restaurants & leisure: 1.06% | ||||||
Starbucks Corp. | 24,619 | 1,916,589 | ||||
Specialty retail: 3.51% | ||||||
Burlington Stores, Inc.† | 12,692 | 3,046,080 | ||||
Home Depot, Inc. | 9,582 | 3,298,508 | ||||
6,344,588 | ||||||
Consumer staples: 4.43% | ||||||
Consumer staples distribution & retail: 3.07% | ||||||
Dollar General Corp. | 22,860 | 3,022,778 | ||||
Sysco Corp. | 35,422 | 2,528,776 | ||||
5,551,554 | ||||||
Household products: 1.36% | ||||||
Church & Dwight Co., Inc. | 23,836 | 2,471,317 | ||||
Financials: 10.04% | ||||||
Capital markets: 5.30% | ||||||
Charles Schwab Corp. | 48,061 | 3,541,615 | ||||
Intercontinental Exchange, Inc. | 23,050 | 3,155,314 | ||||
S&P Global, Inc. | 6,477 | 2,888,742 | ||||
9,585,671 | ||||||
Financial services: 3.52% | ||||||
Mastercard, Inc. Class A | 14,411 | 6,357,557 | ||||
Insurance: 1.22% | ||||||
Marsh & McLennan Cos., Inc. | 10,482 | 2,208,767 | ||||
Health care: 9.04% | ||||||
Health care equipment & supplies: 2.87% | ||||||
Align Technology, Inc.† | 5,623 | 1,357,561 | ||||
LivaNova PLC† | 38,526 | 2,111,995 | ||||
Medtronic PLC | 21,877 | 1,721,939 | ||||
5,191,495 | ||||||
Health care providers & services: 2.05% | ||||||
UnitedHealth Group, Inc. | 7,280 | 3,707,413 |
Shares | Value | |||||
Life sciences tools & services: 4.12% | ||||||
Agilent Technologies, Inc. | 18,694 | $2,423,303 | ||||
Bio-Rad Laboratories, Inc. Class A† | 7,232 | 1,975,131 | ||||
Thermo Fisher Scientific, Inc. | 5,518 | 3,051,454 | ||||
7,449,888 | ||||||
Industrials: 17.99% | ||||||
Aerospace & defense: 4.11% | ||||||
HEICO Corp. Class A | 26,753 | 4,749,193 | ||||
Melrose Industries PLC | 383,301 | 2,681,392 | ||||
7,430,585 | ||||||
Building products: 2.96% | ||||||
AZEK Co., Inc.† | 37,947 | 1,598,707 | ||||
Carlisle Cos., Inc. | 9,268 | 3,755,486 | ||||
5,354,193 | ||||||
Commercial services & supplies: 1.69% | ||||||
Republic Services, Inc. | 15,750 | 3,060,855 | ||||
Electrical equipment: 2.62% | ||||||
Atkore, Inc. | 9,780 | 1,319,616 | ||||
Regal Rexnord Corp. | 25,247 | 3,413,899 | ||||
4,733,515 | ||||||
Machinery: 1.91% | ||||||
Fortive Corp. | 27,372 | 2,028,265 | ||||
Ingersoll Rand, Inc. | 15,716 | 1,427,642 | ||||
3,455,907 | ||||||
Professional services: 2.99% | ||||||
Dun & Bradstreet Holdings, Inc. | 216,866 | 2,008,179 | ||||
TransUnion | 29,821 | 2,211,525 | ||||
WNS Holdings Ltd.† | 22,680 | 1,190,700 | ||||
5,410,404 | ||||||
Trading companies & distributors: 1.71% | ||||||
Air Lease Corp. | 65,011 | 3,089,973 | ||||
Information technology: 23.29% | ||||||
Electronic equipment, instruments & components: 3.60% | ||||||
Amphenol Corp. Class A | 44,617 | 3,005,847 | ||||
Teledyne Technologies, Inc.† | 9,042 | 3,508,115 | ||||
6,513,962 | ||||||
Semiconductors & semiconductor equipment: 5.06% | ||||||
Marvell Technology, Inc. | 53,075 | 3,709,943 | ||||
Texas Instruments, Inc. | 28,029 | 5,452,481 | ||||
9,162,424 |
Shares | Value | |||||
Software: 9.13% | ||||||
Dynatrace, Inc.† | 47,272 | $2,114,949 | ||||
Palo Alto Networks, Inc.† | 5,943 | 2,014,736 | ||||
QXO, Inc. (Acquired 6-17-2024, cost $0)♦†˃ | 227,661 | 0 | ||||
Salesforce, Inc. | 27,736 | 7,130,926 | ||||
ServiceNow, Inc.† | 3,432 | 2,699,852 | ||||
Workday, Inc. Class A† | 11,437 | 2,556,856 | ||||
16,517,319 | ||||||
Technology hardware, storage & peripherals: 5.50% | ||||||
Apple, Inc. | 47,199 | 9,941,053 | ||||
Materials: 4.48% | ||||||
Chemicals: 4.48% | ||||||
Ashland, Inc. | 33,170 | 3,134,233 | ||||
Olin Corp. | 57,327 | 2,702,968 | ||||
Sherwin-Williams Co. | 7,572 | 2,259,712 | ||||
8,096,913 | ||||||
Real estate: 8.55% | ||||||
Industrial REITs : 1.65% | ||||||
Prologis, Inc. | 26,510 | 2,977,338 | ||||
Real estate management & development: 1.19% | ||||||
CoStar Group, Inc.† | 29,151 | 2,161,255 | ||||
Residential REITs : 2.99% | ||||||
Mid-America Apartment Communities, Inc. | 17,799 | 2,538,316 | ||||
Sun Communities, Inc. | 23,795 | 2,863,490 | ||||
5,401,806 | ||||||
Specialized REITs : 2.72% | ||||||
American Tower Corp. | 16,464 | 3,200,272 | ||||
Equinix, Inc. | 2,276 | 1,722,022 | ||||
4,922,294 | ||||||
Total common stocks (Cost $122,086,254) | 175,013,693 |
Yield | ||||||
Short-term investments: 3.29% | ||||||
Investment companies: 3.29% | ||||||
Allspring Government Money Market Fund Select Class♠∞ | 5.25 % | 5,944,451 | 5,944,451 | |||
Total short-term investments (Cost $5,944,451) | 5,944,451 | |||||
Total investments in securities (Cost $128,030,705) | 100.05 % | 180,958,144 | ||||
Other assets and liabilities, net | (0.05 ) | (89,273 ) | ||||
Total net assets | 100.00 % | $180,868,871 |
† | Non-income-earning security |
♦ | The security is fair valued in accordance with procedures approved by the Board of Trustees. |
˃ | Restricted security as to resale, excluding Rule 144A securities. The Fund held restricted securities with an aggregate current value of $0 (original an aggregate cost of $0), representing 0.00% of its net assets as of period end. |
♠ | 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. |
Abbreviations: | |
REIT | Real estate investment trust |
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 | $6,246,648 | $17,787,056 | $(18,089,253 ) | $0 | $0 | $5,944,451 | 5,944,451 | $118,800 |
Assets | |
Investments in unaffiliated securities, at value (cost $122,086,254) | $175,013,693 |
Investments in affiliated securities, at value (cost $5,944,451) | 5,944,451 |
Receivable for dividends | 139,720 |
Receivable for Fund shares sold | 6,489 |
Total assets | 181,104,353 |
Liabilities | |
Management fee payable | 90,205 |
Payable for Fund shares redeemed | 52,932 |
Professional fees payable | 32,541 |
Distribution fee payable | 31,298 |
Administration fees payable | 11,860 |
Accrued expenses and other liabilities | 16,646 |
Total liabilities | 235,482 |
Total net assets | $180,868,871 |
Net assets consist of | |
Paid-in capital | $98,965,055 |
Total distributable earnings | 81,903,816 |
Total net assets | $180,868,871 |
Computation of net asset value per share | |
Net assets–Class 1 | $28,074,842 |
Shares outstanding–Class 11 | 1,019,528 |
Net asset value per share–Class 1 | $27.54 |
Net assets–Class 2 | $152,794,029 |
Shares outstanding–Class 21 | 5,548,948 |
Net asset value per share–Class 2 | $27.54 |
Investment income | |
Dividends | $867,424 |
Income from affiliated securities | 118,800 |
Interest | 30 |
Total investment income | 986,254 |
Expenses | |
Management fee | 638,017 |
Administration fees | |
Class 1 | 11,456 |
Class 2 | 61,460 |
Distribution fee | |
Class 2 | 191,962 |
Custody and accounting fees | 2,206 |
Professional fees | 35,102 |
Shareholder report expenses | 6,524 |
Trustees’ fees and expenses | 12,494 |
Other fees and expenses | 1,548 |
Total expenses | 960,769 |
Less: Fee waivers and/or expense reimbursements | |
Fund-level | (85,117 ) |
Net expenses | 875,652 |
Net investment income | 110,602 |
Realized and unrealized gains (losses) on investments | |
Net realized gains on | |
Unaffiliated securities | 10,350,929 |
Foreign currency and foreign currency translations | 81 |
Net realized gains on investments | 10,351,010 |
Net change in unrealized gains (losses) on | |
Unaffiliated securities | 252,649 |
Foreign currency and foreign currency translations | (297 ) |
Net change in unrealized gains (losses) on investments | 252,352 |
Net realized and unrealized gains (losses) on investments | 10,603,362 |
Net increase in net assets resulting from operations | $10,713,964 |
Six months ended June 30, 2024 (unaudited) | Year ended December 31, 2023 | |||
Operations | ||||
Net investment income | $110,602 | $195,510 | ||
Net realized gains on investments | 10,351,010 | 18,732,547 | ||
Net change in unrealized gains (losses) on investments | 252,352 | 21,187,243 | ||
Net increase in net assets resulting from operations | 10,713,964 | 40,115,300 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class 1 | 0 | (2,254,598 ) | ||
Class 2 | 0 | (12,074,905 ) | ||
Total distributions to shareholders | 0 | (14,329,503 ) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class 1 | 11,802 | 321,626 | 36,442 | 881,984 |
Class 2 | 38,065 | 1,026,805 | 101,673 | 2,474,192 |
1,348,431 | 3,356,176 | |||
Reinvestment of distributions | ||||
Class 1 | 0 | 0 | 91,539 | 2,254,598 |
Class 2 | 0 | 0 | 489,060 | 12,074,905 |
0 | 14,329,503 | |||
Payment for shares redeemed | ||||
Class 1 | (97,023 ) | (2,654,462 ) | (154,109 ) | (3,734,017 ) |
Class 2 | (368,680 ) | (10,027,987 ) | (727,868 ) | (17,668,441 ) |
(12,682,449 ) | (21,402,458 ) | |||
Net decrease in net assets resulting from capital share transactions | (11,334,018 ) | (3,716,779 ) | ||
Total increase (decrease) in net assets | (620,054 ) | 22,069,018 | ||
Net assets | ||||
Beginning of period | 181,488,925 | 159,419,907 | ||
End of period | $180,868,871 | $181,488,925 |
Six months ended June 30, 2024 (unaudited) | Year ended December 31 | |||||
Class 1 | 2023 | 2022 | 2021 | 2020 | 2019 | |
Net asset value, beginning of period | $25.96 | $22.24 | $34.96 | $29.48 | $26.56 | $22.76 |
Net investment income (loss) | 0.04 1 | 0.08 1 | 0.03 | (0.01 ) | 0.09 | 0.17 |
Net realized and unrealized gains (losses) on investments | 1.54 | 5.77 | (7.06 ) | 7.25 | 5.03 | 6.84 |
Total from investment operations | 1.58 | 5.85 | (7.03 ) | 7.24 | 5.12 | 7.01 |
Distributions to shareholders from | ||||||
Net investment income | 0.00 | 0.00 | 0.00 | (0.08 ) | (0.19 ) | (0.15 ) |
Net realized gains | 0.00 | (2.13 ) | (5.69 ) | (1.68 ) | (2.01 ) | (3.06 ) |
Total distributions to shareholders | 0.00 | (2.13 ) | (5.69 ) | (1.76 ) | (2.20 ) | (3.21 ) |
Net asset value, end of period | $27.54 | $25.96 | $22.24 | $34.96 | $29.48 | $26.56 |
Total return2 | 6.09 % | 26.83 % | (20.61 )% | 25.06 % | 21.32 % | 31.81 % |
Ratios to average net assets (annualized) | ||||||
Gross expenses | 0.84 % | 0.84 % | 0.87 % | 0.84 % | 0.86 % | 0.85 % |
Net expenses | 0.75 % | 0.75 % | 0.75 % | 0.75 % | 0.75 % | 0.75 % |
Net investment income (loss) | 0.33 % | 0.33 % | 0.11 % | (0.02 )% | 0.31 % | 0.67 % |
Supplemental data | ||||||
Portfolio turnover rate | 9 % | 24 % | 26 % | 27 % | 42 % | 25 % |
Net assets, end of period (000s omitted) | $28,075 | $28,679 | $25,149 | $34,376 | $32,066 | $30,811 |
1 | Calculated based upon average shares outstanding |
2 | Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. Returns do not reflect fees and expenses charged pursuant to the terms of variable life insurance policies and variable annuity contracts. |
Six months ended June 30, 2024 (unaudited) | Year ended December 31 | |||||
Class 2 | 2023 | 2022 | 2021 | 2020 | 2019 | |
Net asset value, beginning of period | $25.99 | $22.32 | $35.14 | $29.63 | $26.68 | $22.85 |
Net investment income (loss) | 0.01 1 | 0.02 1 | (0.03 ) | (0.09 ) | 0.03 | 0.11 |
Net realized and unrealized gains (losses) on investments | 1.54 | 5.78 | (7.10 ) | 7.29 | 5.05 | 6.86 |
Total from investment operations | 1.55 | 5.80 | (7.13 ) | 7.20 | 5.08 | 6.97 |
Distributions to shareholders from | ||||||
Net investment income | 0.00 | 0.00 | 0.00 | (0.01 ) | (0.12 ) | (0.08 ) |
Net realized gains | 0.00 | (2.13 ) | (5.69 ) | (1.68 ) | (2.01 ) | (3.06 ) |
Total distributions to shareholders | 0.00 | (2.13 ) | (5.69 ) | (1.69 ) | (2.13 ) | (3.14 ) |
Net asset value, end of period | $27.54 | $25.99 | $22.32 | $35.14 | $29.63 | $26.68 |
Total return2 | 5.96 % | 26.50 % | (20.81 )% | 24.78 % | 21.00 % | 31.46 % |
Ratios to average net assets (annualized) | ||||||
Gross expenses | 1.09 % | 1.09 % | 1.12 % | 1.10 % | 1.11 % | 1.10 % |
Net expenses | 1.00 % | 1.00 % | 1.00 % | 1.00 % | 1.00 % | 1.00 % |
Net investment income (loss) | 0.08 % | 0.08 % | (0.14 )% | (0.27 )% | 0.06 % | 0.42 % |
Supplemental data | ||||||
Portfolio turnover rate | 9 % | 24 % | 26 % | 27 % | 42 % | 25 % |
Net assets, end of period (000s omitted) | $152,794 | $152,810 | $134,271 | $186,745 | $167,338 | $158,216 |
1 | Calculated based upon average shares outstanding |
2 | Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. Returns do not reflect fees and expenses charged pursuant to the terms of variable life insurance policies and variable annuity contracts. |
Gross unrealized gains | $58,238,075 |
Gross unrealized losses | (5,451,220 ) |
Net unrealized gains | $52,786,855 |
Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total | |
Assets | ||||
Investments in: | ||||
Common stocks | ||||
Communication services | $15,874,497 | $0 | $0 | $15,874,497 |
Consumer discretionary | 18,385,738 | 0 | 0 | 18,385,738 |
Consumer staples | 8,022,871 | 0 | 0 | 8,022,871 |
Financials | 18,151,995 | 0 | 0 | 18,151,995 |
Health care | 16,348,796 | 0 | 0 | 16,348,796 |
Industrials | 32,535,432 | 0 | 0 | 32,535,432 |
Information technology | 42,134,758 | 0 | 0 | 42,134,758 |
Materials | 8,096,913 | 0 | 0 | 8,096,913 |
Real estate | 15,462,693 | 0 | 0 | 15,462,693 |
Short-term investments | ||||
Investment companies | 5,944,451 | 0 | 0 | 5,944,451 |
Total assets | $180,958,144 | $0 | $0 | $180,958,144 |
Average daily net assets | Management fee |
First $500 million | 0.700 % |
Next $500 million | 0.675 |
Next $1 billion | 0.650 |
Next $2 billion | 0.625 |
Next $1 billion | 0.600 |
Next $5 billion | 0.590 |
Over $10 billion | 0.580 |
EXPENSE RATIO CAPS | |
Class 1 | 0.75 % |
Class 2 | 1.00 |
P.O. Box 219967
Kansas City, MO 64121-9967
Shares | Value | |||||
Common stocks: 98.64% | ||||||
Communication services: 0.39% | ||||||
Interactive media & services: 0.39% | ||||||
EverQuote, Inc. Class A† | 58,300 | $1,216,138 | ||||
Consumer discretionary: 12.38% | ||||||
Automobile components: 1.16% | ||||||
Modine Manufacturing Co.† | 36,000 | 3,606,840 | ||||
Diversified consumer services: 3.06% | ||||||
Bright Horizons Family Solutions, Inc.† | 44,155 | 4,860,582 | ||||
Duolingo, Inc.† | 22,400 | 4,674,208 | ||||
9,534,790 | ||||||
Hotels, restaurants & leisure: 3.61% | ||||||
Dutch Bros, Inc. Class A† | 123,700 | 5,121,180 | ||||
First Watch Restaurant Group, Inc.† | 155,012 | 2,722,011 | ||||
Sweetgreen, Inc. Class A† | 52,700 | 1,588,378 | ||||
Wingstop, Inc. | 4,276 | 1,807,294 | ||||
11,238,863 | ||||||
Household durables: 0.49% | ||||||
Taylor Morrison Home Corp.† | 27,800 | 1,541,232 | ||||
Specialty retail: 4.06% | ||||||
American Eagle Outfitters, Inc. | 100,000 | 1,996,000 | ||||
Boot Barn Holdings, Inc.† | 55,620 | 7,171,087 | ||||
Wayfair, Inc. Class A† | 66,400 | 3,501,272 | ||||
12,668,359 | ||||||
Consumer staples: 7.77% | ||||||
Beverages: 0.22% | ||||||
Celsius Holdings, Inc.† | 11,900 | 679,371 | ||||
Consumer staples distribution & retail : 0.51% | ||||||
Chefs’ Warehouse, Inc.† | 40,570 | 1,586,693 | ||||
Food products: 1.69% | ||||||
Freshpet, Inc.† | 40,800 | 5,279,112 | ||||
Personal care products: 5.35% | ||||||
BellRing Brands, Inc.† | 129,000 | 7,371,060 | ||||
e.l.f. Beauty, Inc.† | 44,197 | 9,313,192 | ||||
16,684,252 | ||||||
Financials: 4.23% | ||||||
Insurance: 4.23% | ||||||
Kinsale Capital Group, Inc. | 11,948 | 4,603,325 | ||||
Palomar Holdings, Inc.† | 45,900 | 3,724,785 | ||||
Skyward Specialty Insurance Group, Inc.† | 134,700 | 4,873,446 | ||||
13,201,556 |
Shares | Value | |||||
Health care: 23.96% | ||||||
Biotechnology: 6.22% | ||||||
Apellis Pharmaceuticals, Inc.† | 25,514 | $978,717 | ||||
Cytokinetics, Inc.† | 28,800 | 1,560,384 | ||||
Immunovant, Inc.† | 21,000 | 554,400 | ||||
Krystal Biotech, Inc.† | 19,230 | 3,531,397 | ||||
Natera, Inc.† | 14,300 | 1,548,547 | ||||
Soleno Therapeutics, Inc.† | 47,100 | 1,921,680 | ||||
Twist Bioscience Corp.† | 28,200 | 1,389,696 | ||||
Vaxcyte, Inc.† | 26,200 | 1,978,362 | ||||
Vericel Corp.† | 129,466 | 5,939,900 | ||||
19,403,083 | ||||||
Health care equipment & supplies: 9.62% | ||||||
Glaukos Corp.† | 62,400 | 7,385,040 | ||||
Inspire Medical Systems, Inc.† | 7,300 | 976,959 | ||||
iRhythm Technologies, Inc.† | 22,700 | 2,443,428 | ||||
PROCEPT BioRobotics Corp.† | 65,371 | 3,993,514 | ||||
RxSight, Inc.† | 60,964 | 3,668,204 | ||||
TransMedics Group, Inc.† | 76,532 | 11,527,250 | ||||
29,994,395 | ||||||
Health care providers & services: 6.05% | ||||||
Ensign Group, Inc. | 13,800 | 1,706,922 | ||||
HealthEquity, Inc.† | 57,100 | 4,922,020 | ||||
PACS Group, Inc.† | 88,553 | 2,612,314 | ||||
RadNet, Inc.† | 163,099 | 9,609,793 | ||||
18,851,049 | ||||||
Pharmaceuticals: 2.07% | ||||||
Intra-Cellular Therapies, Inc.† | 18,803 | 1,287,817 | ||||
Ligand Pharmaceuticals, Inc.† | 33,900 | 2,856,414 | ||||
Structure Therapeutics, Inc. ADR† | 15,200 | 596,904 | ||||
Tarsus Pharmaceuticals, Inc.† | 62,800 | 1,706,904 | ||||
6,448,039 | ||||||
Industrials: 22.45% | ||||||
Aerospace & defense: 1.06% | ||||||
AAR Corp.† | 21,700 | 1,577,590 | ||||
AeroVironment, Inc.† | 9,500 | 1,730,520 | ||||
3,308,110 | ||||||
Building products: 3.17% | ||||||
AAON, Inc. | 36,300 | 3,166,812 | ||||
AZEK Co., Inc.† | 89,473 | 3,769,497 | ||||
Zurn Elkay Water Solutions Corp. | 100,577 | 2,956,964 | ||||
9,893,273 | ||||||
Commercial services & supplies: 5.39% | ||||||
ACV Auctions, Inc. Class A† | 129,000 | 2,354,250 |
Shares | Value | |||||
Commercial services & supplies(continued) | ||||||
Casella Waste Systems, Inc. Class A† | 92,559 | $9,183,704 | ||||
CECO Environmental Corp.† | 49,002 | 1,413,708 | ||||
Cimpress PLC† | 26,628 | 2,332,879 | ||||
Tetra Tech, Inc. | 7,400 | 1,513,152 | ||||
16,797,693 | ||||||
Construction & engineering: 4.44% | ||||||
Comfort Systems USA, Inc. | 21,400 | 6,508,168 | ||||
Construction Partners, Inc. Class A† | 48,889 | 2,699,162 | ||||
Sterling Infrastructure, Inc.† | 39,172 | 4,635,614 | ||||
13,842,944 | ||||||
Ground transportation: 0.32% | ||||||
Saia, Inc.† | 2,103 | 997,432 | ||||
Machinery: 2.98% | ||||||
Esab Corp. | 16,500 | 1,558,095 | ||||
ESCO Technologies, Inc. | 14,700 | 1,544,088 | ||||
SPX Technologies, Inc.† | 43,526 | 6,186,786 | ||||
9,288,969 | ||||||
Marine transportation: 0.50% | ||||||
Kirby Corp.† | 13,100 | 1,568,463 | ||||
Professional services: 1.82% | ||||||
ICF International, Inc. | 10,200 | 1,514,292 | ||||
Parsons Corp.† | 50,900 | 4,164,129 | ||||
5,678,421 | ||||||
Trading companies & distributors: 2.77% | ||||||
Applied Industrial Technologies, Inc. | 32,665 | 6,337,010 | ||||
SiteOne Landscape Supply, Inc.† | 18,901 | 2,294,770 | ||||
8,631,780 | ||||||
Information technology: 25.85% | ||||||
Electronic equipment, instruments & components: 3.55% | ||||||
Celestica, Inc.† | 34,200 | 1,960,686 | ||||
Fabrinet† | 18,200 | 4,455,178 | ||||
Novanta, Inc.† | 28,557 | 4,657,932 | ||||
11,073,796 | ||||||
IT services: 2.49% | ||||||
Globant SA† | 12,400 | 2,210,424 | ||||
Wix.com Ltd.† | 35,000 | 5,567,450 | ||||
7,777,874 | ||||||
Semiconductors & semiconductor equipment: 5.51% | ||||||
ACM Research, Inc. Class A† | 115,200 | 2,656,512 | ||||
Allegro MicroSystems, Inc.† | 165,716 | 4,679,820 | ||||
Credo Technology Group Holding Ltd.† | 118,800 | 3,794,472 |
Shares | Value | |||||
Semiconductors & semiconductor equipment(continued) | ||||||
Onto Innovation, Inc.† | 20,600 | $4,522,936 | ||||
Silicon Laboratories, Inc.† | 13,692 | 1,514,746 | ||||
17,168,486 | ||||||
Software: 14.30% | ||||||
Braze, Inc. Class A† | 79,144 | 3,073,953 | ||||
CCC Intelligent Solutions Holdings, Inc.† | 133,500 | 1,483,185 | ||||
Clearwater Analytics Holdings, Inc. Class A† | 162,807 | 3,015,186 | ||||
CyberArk Software Ltd.† | 35,040 | 9,580,637 | ||||
Descartes Systems Group, Inc.† | 54,400 | 5,268,096 | ||||
JFrog Ltd.† | 161,020 | 6,046,301 | ||||
PowerSchool Holdings, Inc. Class A† | 27,485 | 615,389 | ||||
Silvaco Group, Inc.† | 67,818 | 1,219,368 | ||||
Sprout Social, Inc. Class A† | 36,393 | 1,298,502 | ||||
SPS Commerce, Inc.† | 41,590 | 7,825,574 | ||||
Varonis Systems, Inc.† | 107,500 | 5,156,775 | ||||
44,582,966 | ||||||
Materials: 1.61% | ||||||
Construction materials: 0.62% | ||||||
Summit Materials, Inc. Class A† | 53,300 | 1,951,313 | ||||
Metals & mining: 0.99% | ||||||
ATI, Inc.† | 55,591 | 3,082,521 | ||||
Total common stocks (Cost $231,775,626) | 307,577,813 |
Yield | ||||||
Short-term investments: 2.11% | ||||||
Investment companies: 2.11% | ||||||
Allspring Government Money Market Fund Select Class♠∞ | 5.25 % | 6,578,324 | 6,578,324 | |||
Total short-term investments (Cost $6,578,324) | 6,578,324 | |||||
Total investments in securities (Cost $238,353,950) | 100.75 % | 314,156,137 | ||||
Other assets and liabilities, net | (0.75 ) | (2,339,224 ) | ||||
Total net assets | 100.00 % | $311,816,913 |
† | 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. |
Abbreviations: | |
ADR | American depositary receipt |
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 | $3,515,301 | $44,381,764 | $(41,318,741 ) | $0 | $0 | $6,578,324 | 6,578,324 | $194,462 |
Assets | |
Investments in unaffiliated securities, at value (cost $231,775,626) | $307,577,813 |
Investments in affiliated securities, at value (cost $6,578,324) | 6,578,324 |
Receivable for Fund shares sold | 101,069 |
Receivable for dividends | 33,311 |
Prepaid expenses and other assets | 2,476 |
Total assets | 314,292,993 |
Liabilities | |
Payable for investments purchased | 1,869,428 |
Payable for Fund shares redeemed | 280,806 |
Management fee payable | 202,414 |
Distribution fee payable | 58,574 |
Administration fees payable | 20,241 |
Accrued expenses and other liabilities | 44,617 |
Total liabilities | 2,476,080 |
Total net assets | $311,816,913 |
Net assets consist of | |
Paid-in capital | $261,746,688 |
Total distributable earnings | 50,070,225 |
Total net assets | $311,816,913 |
Computation of net asset value per share | |
Net assets–Class 1 | $22,441,593 |
Shares outstanding–Class 11 | 2,419,689 |
Net asset value per share–Class 1 | $9.27 |
Net assets–Class 2 | $289,375,320 |
Shares outstanding–Class 21 | 33,368,246 |
Net asset value per share–Class 2 | $8.67 |
Investment income | |
Income from affiliated securities | $194,462 |
Dividends | 154,238 |
Interest | 593 |
Total investment income | 349,293 |
Expenses | |
Management fee | 1,211,155 |
Administration fees | |
Class 1 | 8,626 |
Class 2 | 112,490 |
Distribution fee | |
Class 2 | 350,270 |
Custody and accounting fees | 6,858 |
Professional fees | 33,134 |
Shareholder report expenses | 8,017 |
Trustees’ fees and expenses | 12,418 |
Other fees and expenses | 5,208 |
Total expenses | 1,748,176 |
Net investment loss | (1,398,883 ) |
Realized and unrealized gains (losses) on investments | |
Net realized gains on investments | 4,626,910 |
Net change in unrealized gains (losses) on investments | 26,805,434 |
Net realized and unrealized gains (losses) on investments | 31,432,344 |
Net increase in net assets resulting from operations | $30,033,461 |
Six months ended June 30, 2024 (unaudited) | Year ended December 31, 2023 | |||
Operations | ||||
Net investment loss | $(1,398,883 ) | $(2,444,735 ) | ||
Net realized gains (losses) on investments | 4,626,910 | (12,819,354 ) | ||
Net change in unrealized gains (losses) on investments | 26,805,434 | 26,845,827 | ||
Net increase in net assets resulting from operations | 30,033,461 | 11,581,738 | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class 1 | 151,278 | 1,348,989 | 347,558 | 2,847,502 |
Class 2 | 892,913 | 7,340,150 | 3,538,113 | 27,133,202 |
8,689,139 | 29,980,704 | |||
Payment for shares redeemed | ||||
Class 1 | (200,456 ) | (1,788,644 ) | (384,992 ) | (3,186,427 ) |
Class 2 | (2,327,633 ) | (19,361,418 ) | (3,829,547 ) | (29,230,267 ) |
(21,150,062 ) | (32,416,694 ) | |||
Net decrease in net assets resulting from capital share transactions | (12,460,923 ) | (2,435,990 ) | ||
Total increase in net assets | 17,572,538 | 9,145,748 | ||
Net assets | ||||
Beginning of period | 294,244,375 | 285,098,627 | ||
End of period | $311,816,913 | $294,244,375 |
Six months ended June 30, 2024 (unaudited) | Year ended December 31 | |||||
Class 1 | 2023 | 2022 | 2021 | 2020 | 2019 | |
Net asset value, beginning of period | $8.39 | $8.04 | $14.76 | $15.35 | $10.29 | $9.66 |
Net investment loss | (0.03 )1 | (0.05 )1 | (0.07 )1 | (0.12 )1 | (0.09 ) | (0.07 )1 |
Net realized and unrealized gains (losses) on investments | 0.91 | 0.40 | (4.92 ) | 1.26 | 5.80 | 2.51 |
Total from investment operations | 0.88 | 0.35 | (4.99 ) | 1.14 | 5.71 | 2.44 |
Distributions to shareholders from | ||||||
Net realized gains | 0.00 | 0.00 | (1.73 ) | (1.73 ) | (0.65 ) | (1.81 ) |
Net asset value, end of period | $9.27 | $8.39 | $8.04 | $14.76 | $15.35 | $10.29 |
Total return2 | 10.49 % | 4.35 % | (34.30 )% | 7.93 % | 58.09 % | 25.31 % |
Ratios to average net assets (annualized) | ||||||
Gross expenses | 0.92 % | 0.92 % | 0.94 % | 0.92 % | 0.93 % | 0.93 % |
Net expenses | 0.92 % | 0.92 % | 0.94 % | 0.92 % | 0.93 % | 0.93 % |
Net investment loss | (0.69 )% | (0.61 )% | (0.63 )% | (0.78 )% | (0.76 )% | (0.69 )% |
Supplemental data | ||||||
Portfolio turnover rate | 34 % | 95 % | 61 % | 46 % | 51 % | 62 % |
Net assets, end of period (000s omitted) | $22,442 | $20,725 | $20,160 | $35,204 | $35,128 | $22,925 |
1 | Calculated based upon average shares outstanding |
2 | Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. Returns do not reflect fees and expenses charged pursuant to the terms of variable life insurance policies and variable annuity contracts. |
Six months ended June 30, 2024 (unaudited) | Year ended December 31 | |||||
Class 2 | 2023 | 2022 | 2021 | 2020 | 2019 | |
Net asset value, beginning of period | $7.86 | $7.55 | $14.04 | $14.72 | $9.91 | $9.38 |
Net investment loss | (0.04 )1 | (0.07 )1 | (0.09 )1 | (0.14 ) | (0.11 ) | (0.09 ) |
Net realized and unrealized gains (losses) on investments | 0.85 | 0.38 | (4.67 ) | 1.19 | 5.57 | 2.43 |
Total from investment operations | 0.81 | 0.31 | (4.76 ) | 1.05 | 5.46 | 2.34 |
Distributions to shareholders from | ||||||
Net realized gains | 0.00 | 0.00 | (1.73 ) | (1.73 ) | (0.65 ) | (1.81 ) |
Net asset value, end of period | $8.67 | $7.86 | $7.55 | $14.04 | $14.72 | $9.91 |
Total return2 | 10.31 % | 4.11 % | (34.42 )% | 7.64 % | 57.78 % | 24.83 % |
Ratios to average net assets (annualized) | ||||||
Gross expenses | 1.17 % | 1.17 % | 1.19 % | 1.17 % | 1.18 % | 1.18 % |
Net expenses | 1.17 % | 1.17 % | 1.19 % | 1.17 % | 1.18 % | 1.18 % |
Net investment loss | (0.94 )% | (0.86 )% | (0.87 )% | (1.03 )% | (1.00 )% | (0.95 )% |
Supplemental data | ||||||
Portfolio turnover rate | 34 % | 95 % | 61 % | 46 % | 51 % | 62 % |
Net assets, end of period (000s omitted) | $289,375 | $273,519 | $264,938 | $414,683 | $392,316 | $269,657 |
1 | Calculated based upon average shares outstanding |
2 | Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. Returns do not reflect fees and expenses charged pursuant to the terms of variable life insurance policies and variable annuity contracts. |
Gross unrealized gains | $82,560,704 |
Gross unrealized losses | (7,283,523 ) |
Net unrealized gains | $75,277,181 |
Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total | |
Assets | ||||
Investments in: | ||||
Common stocks | ||||
Communication services | $1,216,138 | $0 | $0 | $1,216,138 |
Consumer discretionary | 38,590,084 | 0 | 0 | 38,590,084 |
Consumer staples | 24,229,428 | 0 | 0 | 24,229,428 |
Financials | 13,201,556 | 0 | 0 | 13,201,556 |
Health care | 74,696,566 | 0 | 0 | 74,696,566 |
Industrials | 70,007,085 | 0 | 0 | 70,007,085 |
Information technology | 80,603,122 | 0 | 0 | 80,603,122 |
Materials | 5,033,834 | 0 | 0 | 5,033,834 |
Short-term investments | ||||
Investment companies | 6,578,324 | 0 | 0 | 6,578,324 |
Total assets | $314,156,137 | $0 | $0 | $314,156,137 |
Average daily net assets | Management fee |
First $500 million | 0.800 % |
Next $500 million | 0.750 |
Next $1 billion | 0.700 |
Next $1 billion | 0.675 |
Next $2 billion | 0.650 |
Next $5 billion | 0.640 |
Over $10 billion | 0.630 |
EXPENSE RATIO CAPS | |
Class 1 | 0.95 % |
Class 2 | 1.20 |
P.O. Box 219967
Kansas City, MO 64121-9967
ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES
Changes in and Disagreements with Accountants for Open-End Management Investment Companies are included as part of the Financial Statements filed under Item 7(a) of this Form.
ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES
Proxy Disclosures for Open-End Management Investment Companies are included as part of the Financial Statements filed under Item 7(a) of this Form.
ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES
Renumeration Paid to Directors, Officers, and Others of Open-End Investment Companies is included as part of the Financial Statements filed under Item 7(a) of this Form.
ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT
The registrant’s Statement Regarding Basis for Approval of Investment Advisory Contract is included as part of the Financial Statements filed under Item 7(a) of this Form.
ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES
Not applicable.
ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES
Not applicable.
ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS
Not applicable.
ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board of Trustees that have been implemented since the registrant’s last provided disclosure in response to the requirements of this Item.
ITEM 16. CONTROLS AND PROCEDURES
(a) The President and Treasurer have concluded that Allspring Variable Trust disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) provide reasonable assurances that material information relating to the registrant is made known to them by the appropriate persons based on their evaluation of these controls and procedures as of a date within 90 days of the filing of this report.
(b) There were no significant changes in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the most recent fiscal half-year of the period covered by this report that materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
ITEM 17. DISCLOSURES OF SECURITIES LENDING ACTIVITES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES
Not applicable.
ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION
Not applicable.
ITEM 19. EXHIBITS
(a)(1) | Not applicable. | |
(a)(2) | Not applicable. | |
(a)(3) | Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2022. | |
(a)(4) | Not applicable. | |
(a)(5) | Not applicable. | |
(b) | Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2022. | |
(101) | Inline Interactive Data File—the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the inline XBRL document. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Allspring Variable Trust | ||
By: | /s/ Andrew Owen | |
Andrew Owen | ||
President | ||
Date: August 23, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the date indicated.
Allspring Variable Trust | ||
By: | /s/ Andrew Owen | |
Andrew Owen | ||
President | ||
Date: August 23, 2024 | ||
By: | /s/Jeremy DePalma | |
Jeremy DePalma | ||
Treasurer | ||
Date: August 23, 2024 |