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: 811-09689
Wells Fargo Master Trust
(Exact name of registrant as specified in charter)
525 Market St., San Francisco, CA 94105
(Address of principal executive offices) (Zip code)
C. David Messman
Wells Fargo Funds Management, LLC
525 Market St., San Francisco, CA 94105
(Name and address of agent for service)
Registrant’s telephone number, including area code: 800-222-8222
Date of fiscal year end: May 31, 2012
Date of reporting period: November 30, 2012
ITEM 1. REPORT TO SHAREHOLDERS
Wells Fargo Advantage Allocation Funds
Semi-Annual Report
November 30, 2012
| n | | Wells Fargo Advantage Conservative Allocation Fund |
| n | | Wells Fargo Advantage Growth Balanced Fund |
| n | | Wells Fargo Advantage Moderate Balanced Fund |
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Contents
The views expressed and any forward-looking statements are as of November 30, 2012, unless otherwise noted, and are those of the Fund managers and/or Wells Fargo Funds Management, LLC. Discussions of individual securities, or the markets generally, or any Wells Fargo Advantage Fund are not intended as individual recommendations. Future events or results may vary significantly from those expressed in any forward-looking statements; the views expressed are subject to change at any time in response to changing circumstances in the market. Wells Fargo Funds Management, LLC, disclaims any obligation to publicly update or revise any views expressed or forward-looking statements.
NOT FDIC INSURED ¡ NO BANK GUARANTEE ¡ MAY LOSE VALUE
Wells Fargo investment history
| | |
| 1932 | | Keystone creates one of the first mutual fund families. |
| 1971 | | Wells Fargo & Company introduces one of the first institutional index funds. |
| 1978 | | Wells Fargo applies Markowitz and Sharpe’s research on Modern Portfolio Theory to introduce one of the industry’s first tactical asset allocation models in institutional separately managed accounts. |
| 1984 | | Wells Fargo Stagecoach Funds launches its first asset allocation fund. |
| 1989 | | The Tactical Asset Allocation (TAA) Model is first applied to Wells Fargo’s asset allocation mutual funds. |
| 1994 | | Wells Fargo introduces the LifePath Funds, one of the first suites of target date funds (now the Wells Fargo Advantage Dow Jones Target Date FundsSM). |
| 1996 | | Evergreen Investments and Keystone Funds merge. |
| 1997 | | Wells Fargo launches the Wells Fargo Advantage WealthBuilder PortfoliosSM, a fund-of-funds suite of products that includes the use of quantitative models to shift assets among investment styles. |
| 1999 | | Norwest Advantage Funds and Stagecoach Funds are reorganized into Wells Fargo Funds after the merger of Norwest and Wells Fargo. |
| 2002 | | Evergreen Retail and Evergreen Institutional companies form the umbrella asset management company, Evergreen Investments. |
| 2005 | | The integration of Strong Funds with Wells Fargo Funds creates Wells Fargo Advantage Funds, resulting in one of the top 20 mutual fund companies in the United States. |
| 2006 | | Wells Fargo Advantage Funds relaunches the target date product line as Wells Fargo Advantage Dow Jones Target Date Funds. |
| 2010 | | The mergers and reorganizations of Evergreen and Wells Fargo Advantage mutual funds are completed, unifying the families under the brand of Wells Fargo Advantage Funds. |
Wells Fargo Advantage Funds®
Wells Fargo Advantage Funds skillfully guides institutions, financial advisors, and individuals through the investment terrain to help them reach their financial objectives. Everything we do on behalf of investors is backed by our unique combination of qualifications.
Strength
Our organization is built on the standards of integrity and service established by our parent company—Wells Fargo & Company—more than 150 years ago. And, because we’re part of a highly diversified financial enterprise, we offer the depth of resources to help investors succeed.
Expertise
Our multi-boutique model offers investors access to the independent thinking of premier investment managers that have been chosen for their time-tested strategies. While each team specializes in a specific investment strategy, collectively they provide investors a wide choice of distinct investment styles. Our dedication to investment excellence doesn’t end with our expertise in manager selection—risk management, analysis, and rigorous ongoing review seek to ensure each manager’s investment process remains consistent.
Partnership
Our collaborative approach is built around understanding the needs and goals of our clients. By adhering to core principles of sound judgment and steady guidance, we support you through every stage of the investment decision process.
Carefully consider the investment objectives, risks, charges, and expenses before investing. For a current prospectus and, if available, a summary prospectus, for Wells Fargo Advantage Funds, containing this and other information, visit wellsfargoadvantagefunds.com. Read it carefully before investing.
Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, provides investment advisory and administrative services for Wells Fargo Advantage Funds. Other affiliates of Wells Fargo & Company provide subadvisory and other services for the Funds. The Funds are distributed by Wells Fargo Funds Distributor, LLC, Member FINRA/SIPC, an affiliate of Wells Fargo & Company.
“Dow Jones®” and “Dow Jones Target Date IndexesSM” are service marks of Dow Jones Trademark Holdings LLC (“Dow Jones”); have been licensed to CME Group Index Services LLC (“CME Indexes”); and have been sublicensed for use for certain purposes by Global Index Advisors, Inc., and Wells Fargo Funds Management, LLC. The Wells Fargo Advantage Dow Jones Target Date FundsSM, based on the Dow Jones Target Date Indexes, are not sponsored, endorsed, sold, or promoted by Dow Jones, CME Indexes, or their respective affiliates, and none of them makes any representation regarding the advisability of investing in such product(s).
NOT FDIC INSURED ¡ NO BANK GUARANTEE ¡ MAY LOSE VALUE
Not part of the semi-annual report.
Wells Fargo Advantage Funds offers more than 110 mutual funds across a wide range of asset classes, representing over $214 billion in assets under management, as of November 30, 2012.
| | | | |
| Equity funds | | | | |
Asia Pacific Fund | | Enterprise Fund† | | Opportunity Fund† |
C&B Large Cap Value Fund | | Equity Value Fund | | Precious Metals Fund |
C&B Mid Cap Value Fund | | Global Opportunities Fund | | Premier Large Company Growth Fund |
Capital Growth Fund | | Growth Fund | | Small Cap Opportunities Fund |
Common Stock Fund | | Index Fund | | Small Cap Value Fund |
Disciplined U.S. Core Fund | | International Equity Fund | | Small Company Growth Fund |
Discovery Fund† | | International Value Fund | | Small Company Value Fund |
Diversified Equity Fund | | Intrinsic Small Cap Value Fund | | Small/Mid Cap Core Fund |
Diversified International Fund | | Intrinsic Value Fund | | Small/Mid Cap Value Fund |
Diversified Small Cap Fund | | Intrinsic World Equity Fund | | Special Mid Cap Value Fund |
Emerging Growth Fund | | Large Cap Core Fund | | Special Small Cap Value Fund |
Emerging Markets Equity Fund | | Large Cap Growth Fund | | Specialized Technology Fund |
Emerging Markets Equity Income Fund | | Large Company Value Fund | | Traditional Small Cap Growth Fund |
Endeavor Select Fund† | | Omega Growth Fund | | Utility and Telecommunications Fund |
| Bond funds | | | | |
Adjustable Rate Government Fund | | Income Plus Fund | | Short Duration Government Bond Fund |
California Limited-Term Tax-Free Fund | | Inflation-Protected Bond Fund | | Short-Term Bond Fund |
California Tax-Free Fund | | Intermediate Tax/AMT-Free Fund | | Short-Term High Yield Bond Fund |
Colorado Tax-Free Fund | | International Bond Fund | | Short-Term Municipal Bond Fund |
Core Bond Fund | | Minnesota Tax-Free Fund | | Strategic Municipal Bond Fund |
Emerging Markets Local Bond Fund | | Municipal Bond Fund | | Ultra Short-Term Income Fund |
Government Securities Fund | | North Carolina Tax-Free Fund | | Ultra Short-Term Municipal Income Fund |
High Income Fund | | Pennsylvania Tax-Free Fund | | Wisconsin Tax-Free Fund |
High Yield Bond Fund | | | | |
| Asset allocation funds | | | | |
Absolute Return Fund | | WealthBuilder Equity Portfolio† | | Target 2020 Fund† |
Asset Allocation Fund | | WealthBuilder Growth Allocation Portfolio† | | Target 2025 Fund† |
Conservative Allocation Fund | | WealthBuilder Growth Balanced Portfolio† | | Target 2030 Fund† |
Diversified Capital Builder Fund | | WealthBuilder Moderate Balanced Portfolio† | | Target 2035 Fund† |
Diversified Income Builder Fund | | WealthBuilder Tactical Equity Portfolio† | | Target 2040 Fund† |
Growth Balanced Fund | | Target Today Fund† | | Target 2045 Fund† |
Index Asset Allocation Fund | | Target 2010 Fund† | | Target 2050 Fund† |
Moderate Balanced Fund | | Target 2015 Fund† | | Target 2055 Fund† |
WealthBuilder Conservative Allocation Portfolio† | | | | |
| Money market funds | | | | |
100% Treasury Money Market Fund | | Heritage Money Market Fund† | | National Tax-Free Money Market Fund |
California Municipal Money Market Fund | | Money Market Fund | | Prime Investment Money Market Fund |
Cash Investment Money Market Fund | | Municipal Cash Management Money Market Fund | | Treasury Plus Money Market Fund |
Government Money Market Fund | | Municipal Money Market Fund | | |
| Variable trust funds1 | | | | |
VT Discovery Fund† | | VT Intrinsic Value Fund | | VT Small Cap Growth Fund |
VT Index Asset Allocation Fund | | VT Omega Growth Fund | | VT Small Cap Value Fund |
VT International Equity Fund | | VT Opportunity Fund† | | VT Total Return Bond Fund |
An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Wells Fargo Advantage Money Market Funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund.
| 1. | The variable trust funds are generally available only through insurance company variable contracts. |
| † | In this report, the Wells Fargo Advantage Discovery FundSM, Wells Fargo Advantage Endeavor Select FundSM, Wells Fargo Advantage Enterprise FundSM, Wells Fargo Advantage Opportunity FundSM, Wells Fargo Advantage WealthBuilder Conservative Allocation PortfolioSM, Wells Fargo Advantage WealthBuilder Equity PortfolioSM, Wells Fargo Advantage WealthBuilder Growth Allocation PortfolioSM, Wells Fargo Advantage WealthBuilder Growth Balanced PortfolioSM, Wells Fargo Advantage WealthBuilder Moderate Balanced PortfolioSM, Wells Fargo Advantage WealthBuilder Tactical Equity PortfolioSM, Wells Fargo Advantage Dow Jones Target Today FundSM, Wells Fargo Advantage Dow Jones Target 2010 FundSM, Wells Fargo Advantage Dow Jones Target 2015 FundSM, Wells Fargo Advantage Dow Jones Target 2020 FundSM, Wells Fargo Advantage Dow Jones Target 2025 FundSM, Wells Fargo Advantage Dow Jones Target 2030 FundSM, Wells Fargo Advantage Dow Jones Target 2035 FundSM, Wells Fargo Advantage Dow Jones Target 2040 FundSM, Wells Fargo Advantage Dow Jones Target 2045 FundSM, Wells Fargo Advantage Dow Jones Target 2050 FundSM, Wells Fargo Advantage Dow Jones Target 2055 FundSM, Wells Fargo Advantage Heritage Money Market FundSM, Wells Fargo Advantage VT Discovery FundSM, and Wells Fargo Advantage VT Opportunity FundSM are referred to as the Discovery Fund, Endeavor Select Fund, Enterprise Fund, Opportunity Fund, WealthBuilder Conservative Allocation Portfolio, WealthBuilder Equity Portfolio, WealthBuilder Growth Allocation Portfolio, WealthBuilder Growth Balanced Portfolio, WealthBuilder Moderate Balanced Portfolio, WealthBuilder Tactical Equity Portfolio, Target Today Fund, Target 2010 Fund, Target 2015 Fund, Target 2020 Fund, Target 2025 Fund, Target 2030 Fund, Target 2035 Fund, Target 2040 Fund, Target 2045 Fund, Target 2050 Fund, Target 2055 Fund, Heritage Money Market Fund, VT Discovery Fund, and VT Opportunity Fund, respectively. |
Not part of the semi-annual report.
| | | | |
| 2 | | Wells Fargo Advantage Allocation Funds | | Letter to shareholders (unaudited) |
Karla M. Rabusch
President
Wells Fargo Advantage Funds
Much of the period was marked by increased confidence that the U.S. economy was staging a fragile recovery, characterized by improvements in the U.S. housing sector and employment situation.
Dear Valued Shareholder:
We are pleased to offer you this semi-annual report for the Wells Fargo Advantage Allocation Funds for the six-month period that ended November 30, 2012. Much of the period was marked by increased confidence that the U.S. economy was staging a fragile recovery, characterized by improvements in the U.S. housing sector and employment situation. Some of this momentum was offset by continued concerns about the ongoing European sovereign debt crisis and the potential effects that U.S. fiscal and monetary policy decisions would have on the pace of economic growth. As measured by various Russell indexes, U.S. stocks across the market capitalization spectrum posted strong single-digit gains for the period. Major international indexes, by comparison, ended the period with double-digit returns in U.S. dollar terms. Across the fixed-income markets, total returns were positive over the six-month period, with investment-grade and high-yield bonds outperforming U.S. Treasury securities as investors continued to seek yield in the current low and steady interest-rate environment.
Macroeconomic optimism improved, but caution remains.
Early in the reporting period, economic numbers supported the case for a gradual recovery. Real gross domestic product (GDP) growth for the U.S. was positive in the first quarter of 2012, with GDP increasing by 2.0% on an annualized basis. However, the rate of GDP growth slowed in the second quarter, with data showing a 1.7% annualized growth rate. Just prior to the end of the six-month reporting period, the third-quarter preliminary GDP data was released, showing that U.S. economic growth accelerated to a 2.7% annualized rate, lending evidence that the U.S. economy may finally have reached a sustainable growth pattern. Further bolstering the U.S. economic picture, the U.S. unemployment rate continued to trend downward throughout the period, due in part to a decline in the number of people actively participating in the labor force. The U.S. housing sector also strengthened over the six-month period, with new housing activity and existing home sales trending higher.
While the U.S. economy, in particular, continued to show signs of life, there remained uncertainty during the period ahead of the U.S. presidential election and the possibility of a fiscal cliff, which included a series of automatic federal budget cuts and the expiration of several tax cut programs. The U.S. election was decided without incident and Washington was able to strike a compromise to avoid the full impact of the U.S. fiscal cliff, which provided some stability to the markets. Looking ahead, however, several other fiscal policy decisions will be made during the first few months of 2013 that potentially could impact market sentiment and the pace of U.S. economic growth.
Beyond the uncertainties facing the U.S. , the health of the eurozone continued to evolve during the period. By mid-June 2012, analysts were openly discussing the possibility of a crisis within the European banking system, a worry that remained near the forefront throughout most of the summer. In September and October 2012, however, the European Central Bank (ECB) and several key members of the eurozone, including France and Germany, announced their commitment to maintaining the integrity of the single currency. Despite the progress made across Europe in further addressing its ongoing debt issues, there remains a prolonged uncertainty about the eurozone and global economic growth.
Central banks continued to provide stimulus.
Throughout the reporting period, the Federal Reserve (Fed) kept its key interest rates effectively at zero in an effort to support the economy and financial system. In September 2012, the Fed responded to the stagnant U.S. labor market by announcing its third round of quantitative easing. However, the Fed surprised
| | | | | | |
| Letter to shareholders (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 3 | |
some investors by including an open-ended program to purchase mortgage-backed securities until employment growth materially improves. Additionally, the Fed restated its intention to keep interest rates low through 2015. Through additional bond purchases and an exceptionally low federal funds rate, the Fed is aiming to support the U.S. economic expansion and provide a catalyst for stronger job growth.
At the beginning of the period, the ECB had a key rate of 1.00%, which it had lowered from its previous level of 1.25% in response to weakness in the southern European economies. In July 2012, the ECB again cut its main interest rate to a historic low of 0.75% in hopes of offering relief to the eurozone’s sluggish economy amid signs that inflationary pressures were fading.
We remain committed to our investment strategies, even as many variables are at work in the market.
The full effect of the credit crisis remains unknown. Elevated unemployment and debt defaults continue to pressure consumers and businesses alike. In our experience, strict adherence to time-tested investment strategies has its rewards. As a whole, Wells Fargo Advantage Funds represents investments across a range of asset classes and investment styles, giving you an opportunity to create a diversified investment portfolio. While diversification may not prevent losses in a downturn, we believe it helps manage risk.
Thank you for choosing to invest with Wells Fargo Advantage Funds. We appreciate your confidence in us and remain committed to helping you meet your financial needs. For current information about your fund investments, contact your investment professional, visit our website at wellsfargoadvantagefunds.com, or call us directly at 1-800-222-8222. We are available 24 hours a day, 7 days a week.
Sincerely,
Karla M. Rabusch
President
Wells Fargo Advantage Funds
The Fed restated its intention to keep interest rates low through 2015. Through additional bond purchases and an exceptionally low federal funds rate, the Fed is aiming to support the U.S. economic expansion and provide a catalyst for stronger job growth.
Notice to shareholders
At its November 6-7, 2012 meeting, the Board of Trustees unanimously approved the following modifications to certain Class A sales load waiver privileges, with each change becoming effective on July 1, 2013:
| | n | | Annuity payments received under an annuity option or from death proceeds will no longer qualify for net asset value (NAV) repurchase privileges. | |
| | n | | The ability to reinvest redemption proceeds at NAV will be reduced from 120 days to 90 days. | |
| | n | | NAV purchase privileges for certain types of “grandfathered” shareholders will be modified to remove the ability to purchase Class A shares at NAV, unless those shares are held directly with the Fund. | |
Please contact your investment professional or call us directly at 1-800-222-8222 if you have any questions on this Notice to Shareholders.
| | | | |
| 4 | | Wells Fargo Advantage Allocation Funds | | Performance highlights (unaudited) |
Wells Fargo Advantage Conservative Allocation Fund1
The Fund is closed to new investors2.
Investment objective
The Fund seeks total return, consisting primarily of current income.
Adviser
Wells Fargo Funds Management, LLC
Subadviser
Wells Capital Management Incorporated
Subadvisers for master portfolios
Artisan Partners Limited Partnership
Cooke & Bieler, L.P.
Galliard Capital Management, Inc.
Golden Capital Management, LLC
LSV Asset Management
Peregrine Capital Management, Inc.
Phocas Financial Corporation
SSgA Funds Management
Systematic Financial Management, L.P.
Wells Capital Management Incorporated
Portfolio managers
Doug Beath
Thomas C. Biwer, CFA
Petros Bocray, CFA, FRM
Christian L. Chan, CFA
Jeffrey P. Mellas, CAIA
Andrew Owen, CFA
Average annual total returns (%) as of November 30, 2012
| | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | Expense ratios3 (%) | |
| | | Inception date | | 1 year | | | 5 year | | | 10 year | | | Gross | | | Net4 | |
| Administrator Class (NVCBX) | | 11-11-94 | | | 8.40 | | | | 3.88 | | | | 4.80 | | | | 1.27 | | | | 0.85 | |
| Conservative Allocation Composite Index5 | | – | | | 6.17 | | | | 4.14 | | | | 5.15 | | | | – | | | | – | |
| Barclays U.S. Aggregate Bond Index6 | | – | | | 5.51 | | | | 6.04 | | | | 5.41 | | | | – | | | | – | |
| S&P 500 Index7 | | – | | | 16.13 | | | | 1.34 | | | | 6.36 | | | | – | | | | – | |
Figures quoted represent past performance, which is no guarantee of future results and do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of fund shares. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains. Current month-end performance is available on the Fund’s website, wellsfargoadvantagefunds.com.
Index returns do not include transaction costs associated with buying and selling securities, any mutual fund fees or expenses, or any taxes. It is not possible to invest directly in an index.
Administrator Class shares are sold without a front-end sales charge or contingent deferred sales charge.
Balanced funds may invest in stocks and bonds. Stock values fluctuate in response to the activities of individual companies and general market and economic conditions. Bond values fluctuate in response to the financial condition of individual issuers, general market and economic conditions, and changes in interest rates. In general, when interest rates rise, bond values fall and investors may lose principal value. The use of derivatives may reduce returns and/or increase volatility. Certain investment strategies tend to increase the total risk of an investment (relative to the broader market). The Fund is exposed to mortgage- and asset-backed securities risk. Consult the Fund’s prospectus for additional information on these and other risks.
Please see footnotes on page 5.
| | | | | | |
| Performance highlights (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 5 | |
Wells Fargo Advantage Conservative Allocation Fund (continued)
| | | | |
| Ten largest long-term holdings8 (%) as of November 30, 2012 | |
FHLMC, 7.50% , 9-25-43 | | | 1.37 | |
FNMA, 6.25%, 5-25-42 | | | 1.05 | |
FNMA, 5.25%, 5-25-20 | | | 1.04 | |
FNMA, 3.50%, 9-1-32 | | | 0.97 | |
U.S. Treasury Bond, 0.75%, 2-15-42 | | | 0.96 | |
U.S. Treasury Bond, 4.25%, 11-15-40 | | | 0.86 | |
Structured Asset Securities Corporation Series 2007-RM1 Class A1, 0.48%, 5-25-47 | | | 0.82 | |
Household Home Equity Loan Trust 2005-2A1, 0.47%, 1-20-35 | | | 0.81 | |
FNMA, 5.50%, 2-1-36 | | | 0.74 | |
FHLMC, 7.00% , 3-25-43 | | | 0.73 | |
|
| Neutral target allocation9 as of November 30, 2012 |
|
|
|
| Current target allocation9 as of November 30, 2012 |
|
|
| 1. | The Fund is a gateway blended fund that invests all of its assets in two or more master portfolios of the Wells Fargo Master Trust (the “Master Trust”) in varying proportions. References to the investment activities of the Fund are intended to refer to the investment activities of the master portfolios in which it invests. See Notes to Financial Statements for a discussion of the Master Trust. |
| 2. | Please see the Fund’s current Statement of Additional Information for further details. |
| 3. | Reflects the expense ratios as stated in the most recent prospectus. |
| 4. | The Adviser has committed through September 30, 2013, to waive fees and/or reimburse expenses to the extent necessary to cap the Fund’s Total Annual Fund Operating Expenses After Fee Waiver, excluding certain expenses, at the amounts shown. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses, and extraordinary expenses are excluded from the cap. Fees from the underlying master portfolio(s) are included in the cap. Without this cap, the Fund’s returns would have been lower. |
| 5. | Source: Wells Fargo Funds Management, LLC. The Conservative Allocation Composite Index is weighted 55% in the Barclays U.S. Aggregate Bond Index (includes Treasury issues, agency issues, corporate bond issues, and mortgage-backed securities), 25% in the Barclays 9-12 Month U.S. Treasury Bond Index (an unmanaged index that includes aged U.S. Treasury bills, notes, and bonds with a remaining maturity from one up to but not including 12 months), 5% in the Russell 1000® Value Index (measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values), 5% in the S&P 500 Index, 5% in the Russell 1000® Growth Index (measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values), 3% in the MSCI EAFE Index (an unmanaged group of securities generally representative of the stock markets of Europe, Australia and the Far East), and 2% in the Russell 2000® Index (measures the performance of the 2,000 smallest companies in the Russell 3000® Index). You cannot invest directly in an index. |
| 6. | The Barclays U.S. Aggregate Bond Index is composed of the Barclays U.S. Government/Credit Index and the Barclays U.S. Mortgage-Backed Securities Index and includes U.S. Treasury issues, agency issues, corporate bond issues, and mortgage-backed securities. You cannot invest directly in an index. |
| 7. | The S&P 500 Index consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value weighted index with each stock’s weight in the index proportionate to its market value. You cannot invest directly in an index. |
| 8. | The ten largest long-term holdings are calculated based on the value of the securities of the master portfolios allocable to the Fund divided by the total net assets of the Fund. Holdings are subject to change and may have changed since the date specified. |
| 9. | Portfolio allocations are subject to change. Cash and cash equivalents are not reflected in the calculations of portfolio allocations. Neutral target allocation is the target allocation of the Fund as stated in the Fund’s prospectus. Current target allocation is the current allocation of the Fund based on the Tactical Asset Allocation (TAA) Model as of the date specified and is subject to change. |
| | | | |
| 6 | | Wells Fargo Advantage Allocation Funds | | Performance highlights (unaudited) |
Wells Fargo Advantage Growth Balanced Fund1
Investment objective
The Fund seeks total return, consisting of capital appreciation and current income.
Adviser
Wells Fargo Funds Management, LLC
Subadviser
Wells Capital Management Incorporated
Subadvisers for master portfolios
Artisan Partners Limited Partnership
Cooke & Bieler, L.P.
Galliard Capital Management, Inc.
Golden Capital Management, LLC
LSV Asset Management
Peregrine Capital Management, Inc.
Phocas Financial Corporation
SSgA Funds Management
Systematic Financial Management, L.P.
Wells Capital Management Incorporated
Portfolio managers
Doug Beath
Thomas C. Biwer, CFA
Petros Bocray, CFA, FRM
Christian L. Chan, CFA
Jeffrey P. Mellas, CAIA
Andrew Owen, CFA
Average annual total returns (%) as of November 30, 2012
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | Including sales charge | | | Excluding sales charge | | | Expense ratios2 (%) | |
| | | Inception date | | 1 year | | | 5 year | | | 10 year | | | 1 year | | | 5 year | | | 10 year | | | Gross | | | Net3 | |
| Class A (WFGBX) | | 10-14-98 | | | 6.10 | | | | (0.42 | ) | | | 4.52 | | | | 12.58 | | | | 0.76 | | | | 5.14 | | | | 1.36 | | | | 1.20 | |
| Class B (NVGRX)* | | 10-1-98 | | | 6.73 | | | | (0.40 | ) | | | 4.59 | | | | 11.73 | | | | 0.00 | | | | 4.59 | | | | 2.11 | | | | 1.95 | |
| Class C (WFGWX) | | 10-1-98 | | | 10.71 | | | | 0.00 | | | | 4.36 | | | | 11.71 | | | | 0.00 | | | | 4.36 | | | | 2.11 | | | | 1.95 | |
| Administrator Class (NVGBX) | | 11-11-94 | | | – | | | | – | | | | – | | | | 12.86 | | | | 1.01 | | | | 5.40 | | | | 1.20 | | | | 0.95 | |
| Growth Balanced Composite Index4 | | – | | | – | | | | – | | | | – | | | | 12.02 | | | | 3.05 | | | | 6.79 | | | | – | | | | – | |
| S&P 500 Index5 | | – | | | – | | | | – | | | | – | | | | 16.13 | | | | 1.34 | | | | 6.36 | | | | – | | | | – | |
| Barclays U.S. Aggregate Bond Index6 | | – | | | – | | | | – | | | | – | | | | 5.51 | | | | 6.04 | | | | 5.41 | | | | – | | | | – | |
| * | | Class B shares are closed to investment, except in connection with the reinvestment of any distributions and permitted exchanges. |
Figures quoted represent past performance, which is no guarantee of future results and do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of fund shares. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance shown without sales charges would be lower if sales charges were reflected. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains. Current month-end performance is available on the Fund’s website, wellsfargoadvantagefunds.com.
Index returns do not include transaction costs associated with buying and selling securities, any mutual fund fees or expenses, or any taxes. It is not possible to invest directly in an index.
For Class A shares, the maximum front-end sales charge is 5.75%. For Class B shares, the maximum contingent deferred sales charge is 5.00%. For Class C shares, the maximum contingent deferred sales charge is 1.00%. Performance including sales charge assumes the sales charge for the corresponding time period. Administrator Class shares are sold without a front-end sales charge or contingent deferred sales charge.
Balanced funds may invest in stocks and bonds. Stock values fluctuate in response to the activities of individual companies and general market and economic conditions. Bond values fluctuate in response to the financial condition of individual issuers, general market and economic conditions, and changes in interest rates. In general, when interest rates rise, bond values fall and investors may lose principal value. The use of derivatives may reduce returns and/or increase volatility. Certain investment strategies tend to increase the total risk of an investment (relative to the broader market). The Fund is exposed to foreign investment risk, mortgage- and asset-backed securities risk, and smaller company securities risk. Consult the Fund’s prospectus for additional information on these and other risks.
Please see footnotes on page 7.
| | | | | | |
| Performance highlights (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 7 | |
Wells Fargo Advantage Growth Balanced Fund (continued)
| | | | |
| Ten largest long-term holdings7 (%) as of November 30, 2012 | |
Apple Incorporated | | | 2.01 | |
Exxon Mobil Corporation | | | 1.02 | |
Google Incorporated Class A | | | 0.83 | |
eBay Incorporated | | | 0.67 | |
General Electric Company | | | 0.67 | |
Chevron Corporation | | | 0.66 | |
FNMA, 6.25%, 5-25-42 | | | 0.65 | |
JP Morgan Chase & Company | | | 0.65 | |
FNMA, 5.25%, 5-25-20 | | | 0.64 | |
FNMA, 3.50%, 9-1-32 | | | 0.60 | |
|
| Neutral target allocation8 as of November 30, 2012 |
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|
|
| Current target allocation8 as of November 30, 2012 |
|
|
| 1. | The Fund is a gateway blended fund that invests all of its assets in two or more master portfolios of the Wells Fargo Master Trust (the “Master Trust”) in varying proportions. References to the investment activities of the Fund are intended to refer to the investment activities of the master portfolios in which it invests. See Notes to Financial Statements for a discussion of the Master Trust. |
| 2. | Reflects the expense ratios as stated in the most recent prospectuses. |
| 3. | The Adviser has committed through September 30, 2013, to waive fees and/or reimburse expenses to the extent necessary to cap the Fund’s Total Annual Fund Operating Expenses After Fee Waiver, excluding certain expenses, at the amounts shown. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses, and extraordinary expenses are excluded from the cap. Fees from the underlying master portfolio(s) are included in the cap. Without this cap, the Fund’s returns would have been lower. |
| 4. | Source: Wells Fargo Funds Management, LLC. The Growth Balanced Composite Index is weighted 35% in the Barclays U.S. Aggregate Bond Index (includes Treasury issues, agency issues, corporate bond issues, and mortgage-backed securities), 16.25% in the Russell 1000® Value Index (measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values), 16.25% in the S&P 500 Index, 16.25% in the Russell 1000® Growth Index (measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values), 9.75% in the MSCI EAFE Index (an unmanaged group of securities generally representative of the stock markets of Europe, Australasia, and the Far East), and 6.50% in the Russell 2000® Index (measures the performance of the 2,000 smallest companies in the Russell 3000® Index). You cannot invest directly in an index. |
| 5. | The S&P 500 Index consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value weighted index with each stock’s weight in the index proportionate to its market value. You cannot invest directly in an index. |
| 6. | The Barclays U.S. Aggregate Bond Index is composed of the Barclays U.S. Government/Credit Index and the Barclays U.S. Mortgage-Backed Securities Index and includes U.S. Treasury issues, agency issues, corporate bond issues, and mortgage-backed securities. You cannot invest directly in an index. |
| 7. | The ten largest long-term holdings are calculated based on the value of the securities of the master portfolios allocable to the Fund divided by the total net assets of the Fund. Holdings are subject to change and may have changed since the date specified. |
| 8. | Portfolio allocations are subject to change. Cash and cash equivalents are not reflected in the calculations of portfolio allocations. Neutral target allocation is the target allocation of the Fund as stated in the Fund’s prospectus. Current target allocation is the current allocation of the Fund based on the Tactical Asset Allocation (TAA) Model as of the date specified and is subject to change. |
| | | | |
| 8 | | Wells Fargo Advantage Allocation Funds | | Performance highlights (unaudited) |
Wells Fargo Advantage Moderate Balanced Fund1
Investment objective
The Fund seeks total return, consisting of current income and capital appreciation.
Adviser
Wells Fargo Funds Management, LLC
Subadviser
Wells Capital Management Incorporated
Subadvisers for master portfolios
Artisan Partners Limited Partnership
Cooke & Bieler, L.P.
Galliard Capital Management, Inc.
Golden Capital Management, LLC
LSV Asset Management
Peregrine Capital Management, Inc.
Phocas Financial Corporation
SSgA Funds Management
Systematic Financial Management, L.P.
Wells Capital Management Incorporated
Portfolio managers
Doug Beath
Thomas C. Biwer, CFA
Petros Bocray, CFA, FRM
Christian L. Chan, CFA
Jeffrey P. Mellas, CAIA
Andrew Owen, CFA
Average annual total returns2 (%) as of November 30, 2012
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | Including sales charge | | | Excluding sales charge | | | Expense ratios3 (%) | |
| | | Inception date | | 1 year | | | 5 year | | | 10 year | | | 1 year | | | 5 year | | | 10 year | | | Gross | | | Net4 | |
| Class A (WFMAX) | | 1-30-04 | | | 3.93 | | | | 1.08 | | | | 4.20 | | | | 10.27 | | | | 2.29 | | | | 4.82 | | | | 1.33 | | | | 1.15 | |
| Class B (WMOBX)* | | 1-30-04 | | | 4.44 | | | | 1.13 | | | | 4.27 | | | | 9.44 | | | | 1.51 | | | | 4.27 | | | | 2.08 | | | | 1.90 | |
| Class C (WFBCX) | | 1-30-04 | | | 8.43 | | | | 1.51 | | | | 4.03 | | | | 9.43 | | | | 1.51 | | | | 4.03 | | | | 2.08 | | | | 1.90 | |
| Administrator Class (NVMBX) | | 11-11-94 | | | – | | | | – | | | | – | | | | 10.49 | | | | 2.52 | | | | 5.07 | | | | 1.17 | | | | 0.90 | |
| Moderate Balanced Composite Index5 | | – | | | – | | | | – | | | | – | | | | 8.71 | | | | 3.71 | | | | 5.91 | | | | – | | | | – | |
| S&P 500 Index6 | | – | | | – | | | | – | | | | – | | | | 16.13 | | | | 1.34 | | | | 6.36 | | | | – | | | | – | |
| Barclays U.S. Aggregate Bond Index7 | | – | | | – | | | | – | | | | – | | | | 5.51 | | | | 6.04 | | | | 5.41 | | | | – | | | | – | |
| * | | Class B shares are closed to investment, except in connection with the reinvestment of any distributions and permitted exchanges. |
Figures quoted represent past performance, which is no guarantee of future results and do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of fund shares. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance shown without sales charges would be lower if sales charges were reflected. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains. Current month-end performance is available on the Fund’s website, wellsfargoadvantagefunds.com.
Index returns do not include transaction costs associated with buying and selling securities, any mutual fund fees or expenses, or any taxes. It is not possible to invest directly in an index.
For Class A shares, the maximum front-end sales charge is 5.75%. For Class B shares, the maximum contingent deferred sales charge is 5.00%. For Class C shares, the maximum contingent deferred sales charge is 1.00%. Performance including sales charge assumes the sales charge for the corresponding time period. Administrator Class shares are sold without a front-end sales charge or contingent deferred sales charge.
Balanced funds may invest in stocks and bonds. Stock values fluctuate in response to the activities of individual companies and general market and economic conditions. Bond values fluctuate in response to the financial condition of individual issuers, general market and economic conditions, and changes in interest rates. In general, when interest rates rise, bond values fall and investors may lose principal value. The use of derivatives may reduce returns and/or increase volatility. Certain investment strategies tend to increase the total risk of an investment (relative to the broader market). The Fund is exposed to mortgage- and asset-backed securities risk. Consult the Fund’s prospectus for additional information on these and other risks.
Please see footnotes on page 9.
| | | | | | |
| Performance highlights (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 9 | |
Wells Fargo Advantage Moderate Balanced Fund (continued)
| | | | |
| Ten largest long-term holdings8 (%) as of November 30, 2012 | |
Apple Incorporated | | | 1.24 | |
FHLMC, 7.50%, 9-25-43 | | | 0.93 | |
FNMA, 6.25%, 5-25-42 | | | 0.84 | |
FNMA, 5.25%, 5-25-20 | | | 0.83 | |
FNMA, 3.50%, 9-1-32 | | | 0.78 | |
TIPS, 0.75%, 02-15-42 | | | 0.77 | |
U.S. Treasury Bond, 4.25%, 11-15-40 | | | 0.69 | |
Exxon Mobil Corporation | | | 0.63 | |
FNMA, 5.50%, 2-1-36 | | | 0.60 | |
FNMA, 6.00%, 2-25-44 | | | 0.59 | |
| | |
| Neutral target allocation9 as of November 30, 2012 |
|
|
| | |
| Current target allocation9 as of November 30, 2012 |
|
|
| 1. | The Fund is a gateway blended fund that invests all of its assets in two or more master portfolios of the Wells Fargo Master Trust (the “Master Trust”) in varying proportions. References to the investment activities of the Fund are intended to refer to the investment activities of the master portfolios in which it invests. See Notes to Financial Statements for a discussion of the Master Trust. |
| 2. | Historical performance shown for Class A, Class B, and Class C shares prior to their inception reflects the performance of the Administrator Class shares, adjusted to reflect the higher expenses applicable to Class A, Class B, and Class C shares. |
| 3. | Reflects the expense ratios as stated in the most recent prospectuses. |
| 4. | The Adviser has committed through September 30, 2013, to waive fees and/or reimburse expenses to the extent necessary to cap the Fund’s Total Annual Fund Operating Expenses After Fee Waiver, excluding certain expenses, at the amounts shown. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses, and extraordinary expenses are excluded from the cap. Fees from the underlying master portfolio(s) are included in the cap. Without this cap, the Fund’s returns would have been lower. |
| 5. | Source: Wells Fargo Funds Management, LLC. The Moderate Balanced Composite Index is weighted 45% in the Barclays U.S. Aggregate Bond Index (includes Treasury issues, agency issues, corporate bond issues, and mortgage-backed securities), 15% in the Barclays 9-12 Month U.S. Treasury Bond Index (an unmanaged index that includes aged U.S. Treasury bills, notes, and bonds with a remaining maturity from one up to but not including 12 months), 10% in the S&P 500 Index, 10% in the Russell 1000® Growth Index (measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values), 10% in the Russell 1000® Value Index (measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values), 6% in the MSCI EAFE Index (an unmanaged group of securities generally representative of the stock markets of Europe, Australasia, and the Far East), and 4% in the Russell 2000® Index (measures the performance of the 2,000 smallest companies in the Russell 3000® Index). You cannot invest directly in an index. |
| 6. | The S&P 500 Index consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value weighted index with each stock’s weight in the index proportionate to its market value. You cannot invest directly in an index. |
| 7. | The Barclays U.S. Aggregate Bond Index is composed of the Barclays U.S. Government/Credit Index and the Barclays U.S. Mortgage-Backed Securities Index and includes U.S. Treasury issues, agency issues, corporate bond issues, and mortgage-backed securities. You cannot invest directly in an index. |
| 8. | The ten largest long-term holdings are calculated based on the value of the securities of the master portfolios allocable to the Fund divided by the total net assets of the Fund. Holdings are subject to change and may have changed since the date specified. |
| 9. | Portfolio allocations are subject to change. Cash and cash equivalents are not reflected in the calculations of portfolio allocations. Neutral target allocation is the target allocation of the Fund as stated in the Fund’s prospectus. Current target allocation is the current allocation of the Fund based on the Tactical Asset Allocation (TAA) Model as of the date specified and is subject to change. |
| | | | |
| 10 | | Wells Fargo Advantage Allocation Funds | | Fund expenses (unaudited) |
As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (if any) on redemptions and (2) ongoing costs, including management fees, distribution (12b-1) and/or shareholder service fees, and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.
The example is based on an investment of $1,000 invested at the beginning of the six-month period and held for the entire period from June 1, 2012, to November 30, 2012.
Actual expenses
The “Actual” line of the table below provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the “Actual” line under the heading entitled “Expenses paid during period” for your applicable class of shares to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes
The “Hypothetical” line of the table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and contingent deferred sales charges. Therefore, the “Hypothetical” line of the table is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
| | | | | | | | | | | | | | | | |
| Wells Fargo Advantage Conservative Allocation Fund | | Beginning
account value
6-1-12 | | | Ending
account value
11-30-12 | | | Expenses
paid during
the period¹ | | | Net annual
expense ratio | |
| | | | |
Administrator Class | | | | | | | | | | | | | | | | |
Actual | | $ | 1,000.00 | | | $ | 1,046.22 | | | $ | 4.36 | | | | 0.85 | % |
Hypothetical (5% return before expenses) | | $ | 1,000.00 | | | $ | 1,020.81 | | | $ | 4.31 | | | | 0.85 | % |
| Wells Fargo Advantage Growth Balanced Fund | | | | | | | | | | | | |
Class A | | | | | | | | | | | | | | | | |
Actual | | $ | 1,000.00 | | | $ | 1,083.90 | | | $ | 6.27 | | | | 1.20 | % |
Hypothetical (5% return before expenses) | | $ | 1,000.00 | | | $ | 1,019.05 | | | $ | 6.07 | | | | 1.20 | % |
Class B | | | | | | | | | | | | | | | | |
Actual | | $ | 1,000.00 | | | $ | 1,079.44 | | | $ | 10.17 | | | | 1.95 | % |
Hypothetical (5% return before expenses) | | $ | 1,000.00 | | | $ | 1,015.29 | | | $ | 9.85 | | | | 1.95 | % |
Class C | | | | | | | | | | | | | | | | |
Actual | | $ | 1,000.00 | | | $ | 1,079.53 | | | $ | 10.17 | | | | 1.95 | % |
Hypothetical (5% return before expenses) | | $ | 1,000.00 | | | $ | 1,015.29 | | | $ | 9.85 | | | | 1.95 | % |
Administrator Class | | | | | | | | | | | | | | | | |
Actual | | $ | 1,000.00 | | | $ | 1,085.04 | | | $ | 4.97 | | | | 0.95 | % |
Hypothetical (5% return before expenses) | | $ | 1,000.00 | | | $ | 1,020.31 | | | $ | 4.81 | | | | 0.95 | % |
| Wells Fargo Advantage Moderate Balanced Fund | | | | | | | | | | | | |
Class A | | | | | | | | | | | | | | | | |
Actual | | $ | 1,000.00 | | | $ | 1,063.16 | | | $ | 5.95 | | | | 1.15 | % |
Hypothetical (5% return before expenses) | | $ | 1,000.00 | | | $ | 1,019.30 | | | $ | 5.82 | | | | 1.15 | % |
Class B | | | | | | | | | | | | | | | | |
Actual | | $ | 1,000.00 | | | $ | 1,058.86 | | | $ | 9.81 | | | | 1.90 | % |
Hypothetical (5% return before expenses) | | $ | 1,000.00 | | | $ | 1,015.54 | | | $ | 9.60 | | | | 1.90 | % |
Class C | | | | | | | | | | | | | | | | |
Actual | | $ | 1,000.00 | | | $ | 1,058.51 | | | $ | 9.80 | | | | 1.90 | % |
Hypothetical (5% return before expenses) | | $ | 1,000.00 | | | $ | 1,015.54 | | | $ | 9.60 | | | | 1.90 | % |
Administrator Class | | | | | | | | | | | | | | | | |
Actual | | $ | 1,000.00 | | | $ | 1,063.78 | | | $ | 4.66 | | | | 0.90 | % |
Hypothetical (5% return before expenses) | | $ | 1,000.00 | | | $ | 1,020.56 | | | $ | 4.56 | | | | 0.90 | % |
| 1. | Expenses paid is equal to the annualized expense ratio of each class multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year divided by the number of days in the fiscal year (to reflect the one-half-year period). |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 11 | |
CONSERVATIVE ALLOCATION FUND
| | | | | | | | | | | | | | | | | | |
| Security name | | | | | | | | | | | | | Value | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Investment Companies: 99.62% | | | | | | | | | | | | | | | | | | |
| | | | | |
| Affiliated Master Portfolios: 99.62% | | | | | | | | | | | | | | | | | | |
Wells Fargo Advantage C&B Large Cap Value Portfolio | | | | | | | | | | | | | | | | $ | 683,435 | |
Wells Fargo Advantage Core Bond Portfolio | | | | | | | | | | | | | | | | | 4,494,250 | |
Wells Fargo Advantage Diversified Large Cap Growth Portfolio | | | | | | | | | | | | | | | | | 2,083,455 | |
Wells Fargo Advantage Emerging Growth Portfolio | | | | | | | | | | | | | | | | | 207,540 | |
Wells Fargo Advantage Equity Value Portfolio | | | | | | | | | | | | | | | | | 688,494 | |
Wells Fargo Advantage Index Portfolio | | | | | | | | | | | | | | | | | 2,067,050 | |
Wells Fargo Advantage Inflation-Protected Bond Portfolio | | | | | | | | | | | | | | | | | 2,259,424 | |
Wells Fargo Advantage International Equity Portfolio | | | | | | | | | | | | | | | | | 312,744 | |
Wells Fargo Advantage International Growth Portfolio | | | | | | | | | | | | | | | | | 312,345 | |
Wells Fargo Advantage International Index Portfolio | | | | | | | | | | | | | | | | | 312,379 | |
Wells Fargo Advantage International Value Portfolio | | | | | | | | | | | | | | | | | 312,090 | |
Wells Fargo Advantage Large Company Value Portfolio | | | | | | | | | | | | | | | | | 684,325 | |
Wells Fargo Advantage Managed Fixed Income Portfolio | | | | | | | | | | | | | | | | | 15,731,789 | |
Wells Fargo Advantage Small Cap Value Portfolio | | | | | | | | | | | | | | | | | 204,223 | |
Wells Fargo Advantage Small Company Growth Portfolio | | | | | | | | | | | | | | | | | 208,135 | |
Wells Fargo Advantage Small Company Value Portfolio | | | | | | | | | | | | | | | | | 208,091 | |
Wells Fargo Advantage Stable Income Portfolio | | | | | | | | | | | | | | | | | 10,214,761 | |
| | | | | |
Total Investment Companies (Cost $40,018,822) | | | | | | | | | | | | | | | | | 40,984,530 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
| | | | | | | | | | | Principal | | | | |
| | | | | |
Other: 0.02% | | | | | | | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (a)(i) | | | | | | | | | | | | $ | 21,810 | | | | 7,197 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Total Other (Cost $5,191) | | | | | | | | | | | | | | | | | 7,197 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
| | | | | Yield | | | Maturity date | | | | | | | |
| Short-Term Investments: 0.40% | | | | | | | | | | | | | | | | | | |
| U.S. Treasury Securities: 0.40% | | | | | | | | | | | | | | | | | | |
U.S. Treasury Bill #(z) | | | | | 0.10 | % | | | 12-27-12 | | | | 165,000 | | | | 164,988 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Total Short-Term Investments (Cost $164,982) | | | | | | | | | | | | | | | | | 164,988 | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | |
| Total investments in securities | | | | | | | | |
| (Cost $40,188,995) * | | | 100.04 | % | | | 41,156,715 | |
Other assets and liabilities, net | | | (0.04 | ) | | | (15,544 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 41,141,171 | |
| | | | | | | | |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| (#) | All or a portion of this security is segregated as collateral for investments in derivative instruments. |
| (z) | Zero coupon security. Rate represents yield to maturity at time of purchase. |
| * | Cost for federal income tax purposes is $41,592,501 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 967,720 | |
Gross unrealized depreciation | | | (1,403,506 | ) |
| | | | |
Net unrealized depreciation | | $ | (435,786 | ) |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 12 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
GROWTH BALANCED FUND
| | | | | | | | | | | | | | | | |
| Security name | | | | | | | | | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Investment Companies: 98.19% | | | | | | | | | | | | | | | | |
| | | | |
| Affiliated Master Portfolios: 98.19% | | | | | | | | | | | | | | | | |
Wells Fargo Advantage C&B Large Cap Value Portfolio | | | | | | | | | | | | | | $ | 11,984,973 | |
Wells Fargo Advantage Core Bond Portfolio | | | | | | | | | | | | | | | 15,446,877 | |
Wells Fargo Advantage Diversified Large Cap Growth Portfolio | | | | | | | | | | | | | | | 36,894,450 | |
Wells Fargo Advantage Emerging Growth Portfolio | | | | | | | | | | | | | | | 3,608,972 | |
Wells Fargo Advantage Equity Value Portfolio | | | | | | | | | | | | | | | 12,139,301 | |
Wells Fargo Advantage Index Portfolio | | | | | | | | | | | | | | | 36,493,309 | |
Wells Fargo Advantage Inflation-Protected Bond Portfolio | | | | | | | | | | | | | | | 7,762,010 | |
Wells Fargo Advantage International Equity Portfolio | | | | | | | | | | | | | | | 5,519,013 | |
Wells Fargo Advantage International Growth Portfolio | | | | | | | | | | | | | | | 5,537,933 | |
Wells Fargo Advantage International Index Portfolio | | | | | | | | | | | | | | | 5,535,868 | |
Wells Fargo Advantage International Value Portfolio | | | | | | | | | | | | | | | 5,501,509 | |
Wells Fargo Advantage Large Company Value Portfolio | | | | | | | | | | | | | | | 12,028,372 | |
Wells Fargo Advantage Managed Fixed Income Portfolio | | | | | | | | | | | | | | | 54,065,776 | |
Wells Fargo Advantage Small Cap Value Portfolio | | | | | | | | | | | | | | | 3,570,270 | |
Wells Fargo Advantage Small Company Growth Portfolio | | | | | | | | | | | | | | | 3,656,417 | |
Wells Fargo Advantage Small Company Value Portfolio | | | | | | | | | | | | | | | 3,673,609 | |
| | | | |
Total Investment Companies (Cost $205,299,853) | | | | | | | | | | | | | | | 223,418,659 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | | | | | | Principal | | | | |
| Other: 0.03% | | | | | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (a)(i) | | | | | | | | | | $ | 226,020 | | | | 74,587 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Other (Cost $53,798) | | | | | | | | | | | | | | | 74,587 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | Yield | | | Maturity date | | | | | | | |
| Short-Term Investments: 1.90% | | | | | | | | | | | | | | | | |
| U.S. Treasury Securities: 1.90% | | | | | | | | | | | | | | | | |
U.S. Treasury Bill #(z) | | | 0.10 | % | | | 12-27-12 | | | | 510,000 | | | | 509,963 | |
U.S. Treasury Bill #(z) | | | 0.13 | | | | 12-20-12 | | | | 3,815,000 | | | | 3,814,721 | |
| | | | |
Total Short-Term Investments (Cost $4,324,665) | | | | | | | | | | | | | | | 4,324,684 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | |
| Total investments in securities | | | | | | | | |
| (Cost $209,678,316) * | | | 100.12 | % | | | 227,817,930 | |
Other assets and liabilities, net | | | (0.12 | ) | | | (265,315 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 227,552,615 | |
| | | | | | | | |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| # | All or a portion of this security is segregated as collateral for investments in derivative instruments. |
| (z) | Zero coupon security. Rate represents yield to maturity at time of purchase. |
| * | Cost for federal income tax purposes is $219,987,288 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 17,701,836 | |
Gross unrealized depreciation | | | (9,871,194 | ) |
| | | | |
Net unrealized appreciation | | $ | 7,830,642 | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 13 | |
MODERATE BALANCED FUND
| | | | | | | | | | | | | | | | | | |
| Security name | | | | | | | | | | | | | Value | |
| | | | | | | | | | | | | | | | | | |
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Investment Companies: 99.28% | | | | | | | | | | | | | | | | | | |
| | | | | |
| Affiliated Master Portfolios: 99.28% | | | | | | | | | | | | | | | | | | |
Wells Fargo Advantage C&B Large Cap Value Portfolio | | | | | | | | | | | | | | | | $ | 5,472,135 | |
Wells Fargo Advantage Core Bond Portfolio | | | | | | | | | | | | | | | | | 14,746,374 | |
Wells Fargo Advantage Diversified Large Cap Growth Portfolio | | | | | | | | | | | | | | | | | 16,669,689 | |
Wells Fargo Advantage Emerging Growth Portfolio | | | | | | | | | | | | | | | | | 1,661,614 | |
Wells Fargo Advantage Equity Value Portfolio | | | | | | | | | | | | | | | | | 5,507,309 | |
Wells Fargo Advantage Index Portfolio | | | | | | | | | | | | | | | | | 16,525,077 | |
Wells Fargo Advantage Inflation-Protected Bond Portfolio | | | | | | | | | | | | | | | | | 7,409,317 | |
Wells Fargo Advantage International Equity Portfolio | | | | | | | | | | | | | | | | | 2,503,831 | |
Wells Fargo Advantage International Growth Portfolio | | | | | | | | | | | | | | | | | 2,516,234 | |
Wells Fargo Advantage International Index Portfolio | | | | | | | | | | | | | | | | | 2,508,057 | |
Wells Fargo Advantage International Value Portfolio | | | | | | | | | | | | | | | | | 2,498,496 | |
Wells Fargo Advantage Large Company Value Portfolio | | | | | | | | | | | | | | | | | 5,485,329 | |
Wells Fargo Advantage Managed Fixed Income Portfolio | | | | | | | | | | | | | | | | | 51,613,850 | |
Wells Fargo Advantage Small Cap Value Portfolio | | | | | | | | | | | | | | | | | 1,642,215 | |
Wells Fargo Advantage Small Company Growth Portfolio | | | | | | | | | | | | | | | | | 1,665,094 | |
Wells Fargo Advantage Small Company Value Portfolio | | | | | | | | | | | | | | | | | 1,663,839 | |
Wells Fargo Advantage Stable Income Portfolio | | | | | | | | | | | | | | | | | 24,581,171 | |
| | | | | |
Total Investment Companies (Cost $155,797,718) | | | | | | | | | | | | | | | | | 164,669,631 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
| | | | | | | | | | | Principal | | | | |
| Other: 0.01% | | | | | | | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (a)(i) | | | | | | | | | | | | $ | 41,040 | | | | 13,543 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Total Other (Cost $9,768) | | | | | | | | | | | | | | | | | 13,543 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
| | | | | Yield | | | Maturity date | | | | | | | |
| Short-Term Investments: 1.05% | | | | | | | | | | | | | | | | | | |
| U.S. Treasury Securities: 1.05% | | | | | | | | | | | | | | | | | | |
U.S. Treasury Bill #(z) | | | | | 0.10 | % | | | 12-27-12 | | | | 1,740,000 | | | | 1,739,873 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Total Short-Term Investments (Cost $1,739,809) | | | | | | | | | | | | | | | | | 1,739,873 | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | |
| Total investments in securities | | | | | | | | |
| (Cost $157,547,295) * | | | 100.34 | % | | | 166,423,047 | |
Other assets and liabilities, net | | | (0.34 | ) | | | (569,061 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 165,853,986 | |
| | | | | | | | |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| # | All or a portion of this security is segregated as collateral for investments in derivative instruments. |
| (z) | Zero coupon security. Rate represents yield to maturity at time of purchase. |
| * | Cost for federal income tax purposes is $160,197,210 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 6,527,408 | |
Gross unrealized depreciation | | | (301,571 | ) |
| | | | |
Net unrealized appreciation | | $ | 6,225,837 | |
The accompanying notes are an integral part of these financial statements.
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| 14 | | Wells Fargo Advantage Allocation Funds | | Statements of assets and liabilities—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| | | Conservative
Allocation Fund | | | Growth
Balanced Fund | | | Moderate
Balanced Fund | |
| | | |
Assets | | | | | | | | | | | | |
Investments | | | | | | | | | | | | |
In affiliated Master Portfolios, at value (see cost below) | | $ | 40,984,530 | | | $ | 223,418,659 | | | $ | 164,669,631 | |
In unaffiliated securities, at value (see cost below) | | | 172,185 | | | | 4,399,271 | | | | 1,753,416 | |
| | | | | | | | | | | | |
Total investments, at value (see cost below) | | | 41,156,715 | | | | 227,817,930 | | | | 166,423,047 | |
Cash | | | 39 | | | | 666 | | | | 324 | |
Receivable for Fund shares sold | | | 8,887 | | | | 119,503 | | | | 130,971 | |
Receivable from adviser | | | 9,714 | | | | 1,886 | | | | 0 | |
Prepaid expenses and other assets | | | 20,296 | | | | 35,457 | | | | 17,495 | |
| | | | | | | | | | | | |
Total assets | | | 41,195,651 | | | | 227,975,442 | | | | 166,571,837 | |
| | | | | | | | | | | | |
| | | |
Liabilities | | | | | | | | | | | | |
Payable for Fund shares redeemed | | | 10,122 | | | | 219,950 | | | | 599,969 | |
Payable for daily variation margin on open futures contracts | | | 3,981 | | | | 66,797 | | | | 32,534 | |
Advisory fee payable | | | 0 | | | | 0 | | | | 3,368 | |
Distribution fees payable | | | N/A | | | | 6,028 | | | | 2,135 | |
Due to related parties | | | 5,376 | | | | 38,514 | | | | 23,484 | |
Shareholder report expenses payable | | | 26,768 | | | | 35,784 | | | | 20,347 | |
Shareholder servicing fees payable | | | 7,912 | | | | 49,335 | | | | 36,014 | |
Accrued expenses and other liabilities | | | 321 | | | | 6,419 | | | | 0 | |
| | | | | | | | | | | | |
Total liabilities | | | 54,480 | | | | 422,827 | | | | 717,851 | |
| | | | | | | | | | | | |
Total net assets | | $ | 41,141,171 | | | $ | 227,552,615 | | | $ | 165,853,986 | |
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| | | |
NET ASSETS CONSIST OF | | | | | | | | | | | | |
Paid-in capital | | $ | 64,644,620 | | | $ | 398,300,327 | | | $ | 168,422,889 | |
Undistributed net investment income | | | 703,912 | | | | 3,293,323 | | | | 2,792,507 | |
Accumulated net realized losses on investments | | | (25,160,399 | ) | | | (191,624,004 | ) | | | (13,967,153 | ) |
Net unrealized gains on investments | | | 953,038 | | | | 17,582,969 | | | | 8,605,743 | |
| | | | | | | | | | | | |
Total net assets | | $ | 41,141,171 | | | $ | 227,552,615 | | | $ | 165,853,986 | |
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| | |
COMPUTATION OF NET ASSET VALUE AND OFFERING PRICE PER SHARE1 | | | | | | | | | |
Net assets – Class A | | | N/A | | | $ | 54,395,467 | | | $ | 10,281,355 | |
Shares outstanding – Class A | | | N/A | | | | 1,807,406 | | | | 513,363 | |
Net asset value per share – Class A | | | N/A | | | | $30.10 | | | | $20.03 | |
Maximum offering price per share – Class A2 | | | N/A | | | | $31.94 | | | | $21.25 | |
Net assets – Class B | | | N/A | | | $ | 1,359,678 | | | $ | 729,407 | |
Shares outstanding – Class B | | | N/A | | | | 50,799 | | | | 36,529 | |
Net asset value per share – Class B | | | N/A | | | | $26.77 | | | | $19.97 | |
Net assets – Class C | | | N/A | | | $ | 8,152,481 | | | $ | 2,641,236 | |
Shares outstanding – Class C | | | N/A | | | | 307,945 | | | | 133,919 | |
Net asset value per share – Class C | | | N/A | | | | $26.47 | | | | $19.72 | |
Net assets – Administrator Class | | $ | 41,141,171 | | | $ | 163,644,989 | | | $ | 152,201,988 | |
Shares outstanding – Administrator Class | | | 2,271,365 | | | | 6,049,292 | | | | 7,541,473 | |
Net asset value per share – Administrator Class | | | $18.11 | | | | $27.05 | | | | $20.18 | |
| | | |
Investments in affiliated Master Portfolios, at cost | | $ | 40,018,822 | | | $ | 205,299,853 | | | $ | 155,797,718 | |
| | | | | | | | | | | | |
Investments in unaffiliated securities, at cost | | $ | 170,173 | | | $ | 4,378,463 | | | $ | 1,749,577 | |
| | | | | | | | | | | | |
Total investments, at cost | | $ | 40,188,995 | | | $ | 209,678,316 | | | $ | 157,547,295 | |
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| 1. | Each Fund has an unlimited number of authorized shares. |
| 2. | Maximum offering price is computed as 100/94.25 of net asset value. On investments of $50,000 or more, the offering price is reduced. |
The accompanying notes are an integral part of these financial statements.
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| Statements of operations—six months ended November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 15 | |
| | | | | | | | | | | | |
| | | Conservative
Allocation Fund | | | Growth
Balanced Fund | | | Moderate
Balanced Fund | |
| | | |
Investment income | | | | | | | | | | | | |
Interest allocated from affiliated Master Portfolios* | | $ | 473,958 | | | $ | 1,391,714 | | | $ | 1,531,267 | |
Dividends allocated from affiliated Master Portfolios** | | | 75,858 | | | | 1,456,212 | | | | 629,420 | |
Securities lending income allocated from affiliated Master Portfolios | | | 2,128 | | | | 28,748 | | | | 13,919 | |
Interest | | | 262 | | | | 3,734 | | | | 995 | |
Expenses allocated from affiliated Master Portfolios | | | (102,719 | ) | | | (651,973 | ) | | | (442,033 | ) |
Waivers allocated from affiliated Master Portfolios | | | 16,632 | | | | 47,569 | | | | 54,416 | |
| | | | | | | | | | | | |
Total investment income | | | 466,119 | | | | 2,276,004 | | | | 1,787,984 | |
| | | | | | | | | | | | |
| | | |
Expenses | | | | | | | | | | | | |
Advisory fee | | | 50,435 | | | | 302,573 | | | | 210,841 | |
Administration fees | | | | | | | | | | | | |
Fund level | | | 10,087 | | | | 60,514 | | | | 42,168 | |
Class A | | | N/A | | | | 69,607 | | | | 13,188 | |
Class B | | | N/A | | | | 2,035 | | | | 1,016 | |
Class C | | | N/A | | | | 10,392 | | | | 3,176 | |
Administrator Class | | | 20,174 | | | | 89,478 | | | | 77,652 | |
Shareholder servicing fees | | | | | | | | | | | | |
Class A | | | N/A | | | | 66,930 | | | | 12,680 | |
Class B | | | N/A | | | | 1,837 | | | | 977 | |
Class C | | | N/A | | | | 9,993 | | | | 3,054 | |
Administrator Class | | | 50,224 | | | | 223,149 | | | | 194,130 | |
Distribution fees | | | | | | | | | | | | |
Class B | | | N/A | | | | 5,870 | | | | 2,932 | |
Class C | | | N/A | | | | 29,978 | | | | 9,162 | |
Custody and accounting fees | | | 1,582 | | | | 5,051 | | | | 3,697 | |
Professional fees | | | 11,316 | | | | 8,136 | | | | 9,206 | |
Registration fees | | | 16,231 | | | | 29,772 | | | | 29,321 | |
Shareholder report expenses | | | 15,367 | | | | 32,847 | | | | 16,765 | |
Trustees’ fees and expenses | | | 6,011 | | | | 5,600 | | | | 5,704 | |
Other fees and expenses | | | 3,381 | | | | 6,058 | | | | 5,615 | |
| | | | | | | | | | | | |
Total expenses | | | 184,808 | | | | 959,820 | | | | 641,284 | |
Less: Fee waivers and/or expense reimbursements | | | (99,416 | ) | | | (299,731 | ) | | | (241,068 | ) |
| | | | | | | | | | | | |
Net expenses | | | 85,392 | | | | 660,089 | | | | 400,216 | |
| | | | | | | | | | | | |
Net investment income | | | 380,727 | | | | 1,615,915 | | | | 1,387,768 | |
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| |
REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | | | |
| | | |
Net realized gains (losses) on: | | | | | | | | | | | | |
Unaffiliated securities | | | 2,886 | | | | 31,107 | | | | 5,430 | |
Futures transactions | | | 82,686 | | | | 1,394,582 | | | | 724,368 | |
Securities transactions allocated from affiliated Master Portfolios | | | 753,496 | | | | 5,719,150 | | | | 3,484,793 | |
| | | | | | | | | | | | |
Net realized gains on investments | | | 839,068 | | | | 7,144,839 | | | | 4,214,591 | |
| | | | | | | | | | | | |
| | | |
Net change in unrealized gains (losses) on: | | | | | | | | | | | | |
Unaffiliated securities | | | (356 | ) | | | (3,597 | ) | | | (686 | ) |
Futures transactions | | | 69,165 | | | | 1,444,588 | | | | 611,338 | |
Securities transactions allocated from affiliated Master Portfolios | | | 484,348 | | | | 8,615,478 | | | | 3,876,080 | |
| | | | | | | | | | | | |
Net change in unrealized gains (losses) on investments | | | 553,157 | | | | 10,056,469 | | | | 4,486,732 | |
| | | | | | | | | | | | |
Net realized and unrealized gains (losses) on investments | | | 1,392,225 | | | | 17,201,308 | | | | 8,701,323 | |
| | | | | | | | | | | | |
Net increase in net assets resulting from operations | | $ | 1,772,952 | | | $ | 18,817,223 | | | $ | 10,089,091 | |
| | | | | | | | | | | | |
| | | |
* Net of foreign interest withholding taxes allocated from affiliated Master Portfolios in the amount of | | | $45 | | | | $174 | | | | $156 | |
** Net of foreign dividend withholding taxes allocated from affiliated Master Portfolios in the amount of | | | $1,122 | | | | $22,339 | | | | $9,559 | |
The accompanying notes are an integral part of these financial statements.
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| 16 | | Wells Fargo Advantage Allocation Funds | | Statements of changes in net assets |
| | | | | | | | | | | | | | | | |
| | | Conservative Allocation Fund | |
| | | Six months ended November 30, 2012 (unaudited) | | | Year ended May 31, 2012 | |
| | | | |
Operations | | | | | | | | | | | | | | | | |
Net investment income | | | | | | $ | 380,727 | | | | | | | $ | 822,932 | |
Net realized gains on investments | | | | | | | 839,068 | | | | | | | | 595,598 | |
Net change in unrealized gains (losses) on investments | | | | | | | 553,157 | | | | | | | | (565,788 | ) |
| | | | | | | | | | | | | | | | |
Net increase in net assets resulting from operations | | | | | | | 1,772,952 | | | | | | | | 852,742 | |
| | | | | | | | | | | | | | | | |
| | | | |
Distributions to shareholders from | | | | | | | | | | | | | | | | |
Net investment income | | | | | | | | | | | | | | | | |
Administrator Class | | | | | | | 0 | | | | | | | | (493,074 | ) |
| | | | | | | | | | | | | | | | |
Total distributions to shareholders | | | | | | | 0 | | | | | | | | (493,074 | ) |
| | | | | | | | | | | | | | | | |
| | | | |
Capital share transactions | | | Shares | | | | | | | | Shares | | | | | |
Proceeds from shares sold | | | | | | | | | | | | | | | | |
Administrator Class | | | 284,048 | | | | 5,074,178 | | | | 436,655 | | | | 7,434,591 | |
Reinvestment of distributions | | | | | | | | | | | | | | | | |
Administrator Class | | | 0 | | | | 0 | | | | 29,056 | | | | 482,333 | |
Payment for shares redeemed | | | | | | | | | | | | | | | | |
Administrator Class | | | (254,146 | ) | | | (4,503,872 | ) | | | (368,142 | ) | | | (6,281,286 | ) |
| | | | | | | | | | | | | | | | |
Net increase in net assets resulting from capital share transactions | | | | | | | 570,306 | | | | | | | | 1,635,638 | |
| | | | | | | | | | | | | | | | |
Total increase in net assets | | | | | | | 2,343,258 | | | | | | | | 1,995,306 | |
| | | | | | | | | | | | | | | | |
| | | | |
Net assets | | | | | | | | | | | | | | | | |
Beginning of period | | | | | | | 38,797,913 | | | | | | | | 36,802,607 | |
| | | | | | | | | | | | | | | | |
End of period | | | | | | $ | 41,141,171 | | | | | | | $ | 38,797,913 | |
| | | | | | | | | | | | | | | | |
Undistributed net investment income | | | | | | $ | 703,912 | | | | | | | $ | 323,185 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Statements of changes in net assets | | Wells Fargo Advantage Allocation Funds | | | 17 | |
| | | | | | | | | | | | | | | | |
| | | Growth Balanced Fund | |
| | | Six months ended November 30, 2012 (unaudited) | | | Year ended May 31, 2012 | |
| | | | |
Operations | | | | | | | | | | | | | | | | |
Net investment income | | | | | | $ | 1,615,915 | | | | | | | $ | 4,792,504 | |
Net realized gains (losses) on investments | | | | | | | 7,144,839 | | | | | | | | (3,024,099 | ) |
Net change in unrealized gains (losses) on investments | | | | | | | 10,056,469 | | | | | | | | (17,190,366 | ) |
| | | | | | | | | | | | | | | | |
Net increase (decrease) in net assets resulting from operations | | | | | | | 18,817,223 | | | | | | | | (15,421,961 | ) |
| | | | | | | | | | | | | | | | |
| | | | |
Distributions to shareholders from | | | | | | | | | | | | | | | | |
Net investment income | | | | | | | | | | | | | | | | |
Class A | | | | | | | 0 | | | | | | | | (422,013 | ) |
Class C | | | | | | | 0 | | | | | | | | (16,422 | ) |
Administrator Class | | | | | | | 0 | | | | | | | | (2,900,868 | ) |
| | | | | | | | | | | | | | | | |
Total distributions to shareholders | | | | | | | 0 | | | | | | | | (3,339,303 | ) |
| | | | | | | | | | | | | | | | |
| | | | |
Capital share transactions | | | Shares | | | | | | | | Shares | | | | | |
Proceeds from shares sold | | | | | | | | | | | | | | | | |
Class A | | | 175,806 | | | | 5,254,404 | | | | 145,577 | | | | 4,030,845 | |
Class B | | | 669 | | | | 18,048 | | | | 1,736 | | | | 35,305 | |
Class C | | | 20,684 | | | | 539,930 | | | | 44,762 | | | | 1,077,045 | |
Administrator Class | | | 310,772 | | | | 8,214,464 | | | | 1,126,437 | | | | 28,122,102 | |
| | | | | | | | | | | | | | | | |
| | | | | | | 14,026,846 | | | | | | | | 33,265,297 | |
| | | | | | | | | | | | | | | | |
Reinvestment of distributions | | | | | | | | | | | | | | | | |
Class A | | | 0 | | | | 0 | | | | 15,849 | | | | 409,066 | |
Class C | | | 0 | | | | 0 | | | | 672 | | | | 15,373 | |
Administrator Class | | | 0 | | | | 0 | | | | 123,784 | | | | 2,864,372 | |
| | | | | | | | | | | | | | | | |
| | | | | | | 0 | | | | | | | | 3,288,811 | |
| | | | | | | | | | | | | | | | |
Payment for shares redeemed | | | | | | | | | | | | | | | | |
Class A | | | (147,142 | ) | | | (4,340,290 | ) | | | (429,300 | ) | | | (11,917,248 | ) |
Class B | | | (18,604 | ) | | | (489,177 | ) | | | (92,082 | ) | | | (2,277,834 | ) |
Class C | | | (24,910 | ) | | | (647,869 | ) | | | (56,665 | ) | | | (1,367,347 | ) |
Administrator Class | | | (3,085,872 | ) | | | (78,598,137 | ) | | | (2,777,829 | ) | | | (69,226,884 | ) |
| | | | | | | | | | | | | | | | |
| | | | | | | (84,075,473 | ) | | | | | | | (84,789,313 | ) |
| | | | | | | | | | | | | | | | |
Net decrease in net assets resulting from capital share transactions | | | | | | | (70,048,627 | ) | | | | | | | (48,235,205 | ) |
| | | | | | | | | | | | | | | | |
Total decrease in net assets | | | | | | | (51,231,404 | ) | | | | | | | (66,996,469 | ) |
| | | | | | | | | | | | | | | | |
| | | | |
Net assets | | | | | | | | | | | | | | | | |
Beginning of period | | | | | | | 278,784,019 | | | | | | | | 345,780,488 | |
| | | | | | | | | | | | | | | | |
End of period | | | | | | $ | 227,552,615 | | | | | | | $ | 278,784,019 | |
| | | | | | | | | | | | | | | | |
Undistributed net investment income | | | | | | $ | 3,293,323 | | | | | | | $ | 1,677,408 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 18 | | Wells Fargo Advantage Allocation Funds | | Statements of changes in net assets |
| | | | | | | | | | | | | | | | |
| | | Moderate Balanced Fund | |
| | | Six months ended November 30, 2012 (unaudited) | | | Year ended May 31, 2012 | |
| | | | |
Operations | | | | | | | | | | | | | | | | |
Net investment income | | | | | | $ | 1,387,768 | | | | | | | $ | 3,625,486 | |
Net realized gains on investments | | | | | | | 4,214,591 | | | | | | | | 1,000,535 | |
Net change in unrealized gains (losses) on investments | | | | | | | 4,486,732 | | | | | | | | (6,534,214 | ) |
| | | | | | | | | | | | | | | | |
Net increase (decrease) in net assets resulting from operations | | | | | | | 10,089,091 | | | | | | | | (1,908,193 | ) |
| | | | | | | | | | | | | | | | |
| | | | |
Distributions to shareholders from | | | | | | | | | | | | | | | | |
Net investment income | | | | | | | | | | | | | | | | |
Class A | | | | | | | 0 | | | | | | | | (298,350 | ) |
Class B | | | | | | | 0 | | | | | | | | (14,409 | ) |
Class C | | | | | | | 0 | | | | | | | | (65,722 | ) |
Administrator Class | | | | | | | 0 | | | | | | | | (5,867,825 | ) |
| | | | | | | | | | | | | | | | |
Total distributions to shareholders | | | | | | | 0 | | | | | | | | (6,246,306 | ) |
| | | | | | | | | | | | | | | | |
| | | | |
Capital share transactions | | | Shares | | | | | | | | Shares | | | | | |
Proceeds from shares sold | | | | | | | | | | | | | | | | |
Class A | | | 54,334 | | | | 1,069,982 | | | | 148,156 | | | | 2,821,610 | |
Class B | | | 3,037 | | | | 59,617 | | | | 15,027 | | | | 286,476 | |
Class C | | | 17,173 | | | | 334,859 | | | | 48,303 | | | | 904,849 | |
Administrator Class | | | 292,127 | | | | 5,809,968 | | | | 1,023,557 | | | | 19,512,929 | |
| | | | | | | | | | | | | | | | |
| | | | | | | 7,274,426 | | | | | | | | 23,525,864 | |
| | | | | | | | | | | | | | | | |
Reinvestment of distributions | | | | | | | | | | | | | | | | |
Class A | | | 0 | | | | 0 | | | | 16,021 | | | | 285,166 | |
Class B | | | 0 | | | | 0 | | | | 756 | | | | 13,518 | |
Class C | | | 0 | | | | 0 | | | | 3,054 | | | | 53,931 | |
Administrator Class | | | 0 | | | | 0 | | | | 317,421 | | | | 5,681,842 | |
| | | | | | | | | | | | | | | | |
| | | | | | | 0 | | | | | | | | 6,034,457 | |
| | | | | | | | | | | | | | | | |
Payment for shares redeemed | | | | | | | | | | | | | | | | |
Class A | | | (68,214 | ) | | | (1,330,692 | ) | | | (181,808 | ) | | | (3,450,859 | ) |
Class B | | | (9,316 | ) | | | (184,389 | ) | | | (28,981 | ) | | | (542,623 | ) |
Class C | | | (7,731 | ) | | | (150,991 | ) | | | (48,418 | ) | | | (909,830 | ) |
Administrator Class | | | (1,851,042 | ) | | | (35,491,083 | ) | | | (1,967,823 | ) | | | (37,322,420 | ) |
| | | | | | | | | | | | | | | | |
| | | | | | | (37,157,155 | ) | | | | | | | (42,225,732 | ) |
| | | | | | | | | | | | | | | | |
Net decrease in net assets resulting from capital share transactions | | | | | | | (29,882,729 | ) | | | | | | | (12,665,411 | ) |
| | | | | | | | | | | | | | | | |
Total decrease in net assets | | | | | | | (19,793,638 | ) | | | | | | | (20,819,910 | ) |
| | | | | | | | | | | | | | | | |
| | | | |
Net assets | | | | | | | | | | | | | | | | |
Beginning of period | | | | | | | 185,647,624 | | | | | | | | 206,467,534 | |
| | | | | | | | | | | | | | | | |
End of period | | | | | | $ | 165,853,986 | | | | | | | $ | 185,647,624 | |
| | | | | | | | | | | | | | | | |
Undistributed net investment income | | | | | | $ | 2,792,507 | | | | | | | $ | 1,404,739 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
This page is intentionally left blank.
| | | | |
| 20 | | Wells Fargo Advantage Allocation Funds | | Financial highlights |
| | | | | | | | | | | | | | | | |
| | | | |
| | | Beginning
net asset
value per
share | | | Net
investment
income1 | | | Net realized
and unrealized
gains (losses)
on investments | | | Distributions
from net
investment
income | |
| | | | |
Conservative Allocation Fund | | | | | | | | | | | | | | | | |
Administrator Class | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | $ | 17.31 | | | | 0.17 | | | | 0.63 | | | | 0.00 | |
June 1, 2011 to May 31, 2012 | | $ | 17.17 | | | | 0.37 | | | | (0.01 | ) | | | (0.22 | ) |
October 1, 2010 to May 31, 20114 | | $ | 18.52 | | | | 0.29 | 5 | | | 0.95 | | | | (1.48 | ) |
October 1, 2009 to September 30, 2010 | | $ | 17.45 | | | | 1.15 | | | | 0.57 | | | | (0.65 | ) |
October 1, 2008 to September 30, 2009 | | $ | 17.77 | | | | 0.58 | | | | (0.05 | ) | | | (0.75 | ) |
October 1, 2007 to September 30, 2008 | | $ | 20.35 | | | | 0.73 | | | | (2.04 | ) | | | (0.72 | ) |
October 1, 2006 to September 30, 2007 | | $ | 19.74 | | | | 0.70 | | | | 0.84 | | | | (0.64 | ) |
| | | | |
Growth Balanced Fund | | | | | | | | | | | | | | | | |
Class A | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | $ | 27.77 | | | | 0.19 | | | | 2.14 | | | | 0.00 | |
June 1, 2011 to May 31, 2012 | | $ | 29.34 | | | | 0.39 | 5 | | | (1.73 | ) | | | (0.23 | ) |
October 1, 2010 to May 31, 20114 | | $ | 25.89 | | | | 0.23 | | | | 4.11 | | | | (0.89 | ) |
October 1, 2009 to September 30, 2010 | | $ | 24.12 | | | | 0.40 | 5 | | | 1.75 | | | | (0.38 | ) |
October 1, 2008 to September 30, 2009 | | $ | 25.63 | | | | 0.41 | 5 | | | (1.32 | ) | | | (0.52 | ) |
October 1, 2007 to September 30, 2008 | | $ | 36.21 | | | | 0.63 | 5 | | | (7.32 | ) | | | (0.63 | ) |
October 1, 2006 to September 30, 2007 | | $ | 33.51 | | | | 0.61 | | | | 4.40 | | | | (0.53 | ) |
Class B | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | $ | 24.80 | | | | 0.06 | 5 | | | 1.91 | | | | 0.00 | |
June 1, 2011 to May 31, 2012 | | $ | 26.17 | | | | 0.15 | 5 | | | (1.52 | ) | | | 0.00 | |
October 1, 2010 to May 31, 20114 | | $ | 23.07 | | | | 0.12 | 5 | | | 3.62 | | | | (0.64 | ) |
October 1, 2009 to September 30, 2010 | | $ | 21.46 | | | | 0.22 | 5 | | | 1.53 | | | | (0.14 | ) |
October 1, 2008 to September 30, 2009 | | $ | 22.70 | | | | 0.22 | 5 | | | (1.13 | ) | | | (0.25 | ) |
October 1, 2007 to September 30, 2008 | | $ | 32.51 | | | | 0.36 | 5 | | | (6.52 | ) | | | (0.39 | ) |
October 1, 2006 to September 30, 2007 | | $ | 30.29 | | | | 0.33 | | | | 3.95 | | | | (0.28 | ) |
Class C | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | $ | 24.52 | | | | 0.06 | 5 | | | 1.89 | | | | 0.00 | |
June 1, 2011 to May 31, 2012 | | $ | 25.94 | | | | 0.16 | 5 | | | (1.53 | ) | | | (0.05 | ) |
October 1, 2010 to May 31, 20114 | | $ | 22.93 | | | | 0.12 | 5 | | | 3.60 | | | | (0.71 | ) |
October 1, 2009 to September 30, 2010 | | $ | 21.42 | | | | 0.19 | 5 | | | 1.56 | | | | (0.24 | ) |
October 1, 2008 to September 30, 2009 | | $ | 22.77 | | | | 0.23 | 5 | | | (1.17 | ) | | | (0.33 | ) |
October 1, 2007 to September 30, 2008 | | $ | 32.60 | | | | 0.36 | 5 | | | (6.54 | ) | | | (0.39 | ) |
October 1, 2006 to September 30, 2007 | | $ | 30.37 | | | | 0.33 | | | | 3.97 | | | | (0.29 | ) |
Administrator Class | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | $ | 24.93 | | | | 0.41 | | | | 1.71 | | | | 0.00 | |
June 1, 2011 to May 31, 2012 | | $ | 26.39 | | | | 0.41 | 5 | | | (1.57 | ) | | | (0.30 | ) |
October 1, 2010 to May 31, 20114 | | $ | 23.39 | | | | 0.31 | 5 | | | 3.64 | | | | (0.95 | ) |
October 1, 2009 to September 30, 2010 | | $ | 21.81 | | | | 0.46 | 5 | | | 1.55 | | | | (0.43 | ) |
October 1, 2008 to September 30, 2009 | | $ | 23.29 | | | | 0.41 | 5 | | | (1.21 | ) | | | (0.60 | ) |
October 1, 2007 to September 30, 2008 | | $ | 33.29 | | | | 0.64 | 5 | | | (6.67 | ) | | | (0.71 | ) |
October 1, 2006 to September 30, 2007 | | $ | 30.98 | | | | 0.70 | | | | 3.99 | | | | (0.60 | ) |
Please see footnotes on page 22.
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Financial highlights | | Wells Fargo Advantage Allocation Funds | | | 21 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Distributions
from net
realized gains | | | Distributions
from tax basis
return of capital | | | Ending
net asset
value
per
share | | | Ratio to average net assets (annualized) | | | Total
return2 | | | Portfolio
turnover
rate3 | | | Net assets at
end of period
(000s omitted) | |
| | | | Net investment
income1 | | | Gross
expenses1 | | | Net
expenses1 | | | | |
| | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | 0.00 | | | | 0.00 | | | $ | 18.11 | | | | 1.90 | % | | | 1.34 | % | | | 0.85 | % | | | 4.62 | % | | | 47 | % | | $ | 41,141 | |
| | 0.00 | | | | 0.00 | | | $ | 17.31 | | | | 2.18 | % | | | 1.28 | % | | | 0.85 | % | | | 2.17 | % | | | 124 | % | | $ | 38,798 | |
| | 0.00 | | | | (1.11 | ) | | $ | 17.17 | | | | 2.46 | % | | | 1.27 | % | | | 0.85 | % | | | 7.37 | % | | | 72 | % | | $ | 36,803 | |
| | 0.00 | | | | 0.00 | | | $ | 18.52 | | | | 1.44 | % | | | 1.13 | % | | | 0.85 | % | | | 10.12 | % | | | 112 | % | | $ | 39,740 | |
| | (0.10 | ) | | | 0.00 | | | $ | 17.45 | | | | 3.18 | % | | | 1.09 | % | | | 0.85 | % | | | 3.68 | % | | | 130 | % | | $ | 424,389 | |
| | (0.55 | ) | | | 0.00 | | | $ | 17.77 | | | | 3.80 | % | | | 1.06 | % | | | 0.85 | % | | | (6.85 | )% | | | 100 | % | | $ | 479,238 | |
| | (0.29 | ) | | | 0.00 | | | $ | 20.35 | | | | 3.75 | % | | | 1.05 | % | | | 0.85 | % | | | 8.05 | % | | | 91 | % | | $ | 615,216 | |
| | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | 0.00 | | | | 0.00 | | | $ | 30.10 | | | | 1.19 | % | | | 1.38 | % | | | 1.20 | % | | | 8.39 | % | | | 38 | % | | $ | 54,395 | |
| | 0.00 | | | | 0.00 | | | $ | 27.77 | | | | 1.40 | % | | | 1.36 | % | | | 1.20 | % | | | (4.53 | )% | | | 107 | % | | $ | 49,403 | |
| | 0.00 | | | | 0.00 | | | $ | 29.34 | | | | 1.43 | % | | | 1.35 | % | | | 1.20 | % | | | 17.02 | % | | | 70 | % | | $ | 60,055 | |
| | 0.00 | | | | 0.00 | | | $ | 25.89 | | | | 1.61 | % | | | 1.38 | % | | | 1.20 | % | | | 9.00 | % | | | 94 | % | | $ | 55,284 | |
| | (0.08 | ) | | | 0.00 | | | $ | 24.12 | | | | 1.95 | % | | | 1.32 | % | | | 1.20 | % | | | (2.95 | )% | | | 105 | % | | $ | 55,318 | |
| | (3.26 | ) | | | 0.00 | | | $ | 25.63 | | | | 2.09 | % | | | 1.34 | % | | | 1.20 | % | | | (20.42 | )% | | | 80 | % | | $ | 55,626 | |
| | (1.78 | ) | | | 0.00 | | | $ | 36.21 | | | | 1.89 | % | | | 1.32 | % | | | 1.20 | % | | | 15.55 | % | | | 75 | % | | $ | 79,411 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | 0.00 | | | | 0.00 | | | $ | 26.77 | | | | 0.42 | % | | | 2.11 | % | | | 1.95 | % | | | 7.94 | % | | | 38 | % | | $ | 1,360 | |
| | 0.00 | | | | 0.00 | | | $ | 24.80 | | | | 0.61 | % | | | 2.10 | % | | | 1.95 | % | | | (5.23 | )% | | | 107 | % | | $ | 1,704 | |
| | 0.00 | | | | 0.00 | | | $ | 26.17 | | | | 0.62 | % | | | 2.09 | % | | | 1.95 | % | | | 16.43 | % | | | 70 | % | | $ | 4,163 | |
| | 0.00 | | | | 0.00 | | | $ | 23.07 | | | | 0.96 | % | | | 2.12 | % | | | 1.95 | % | | | 8.19 | % | | | 94 | % | | $ | 6,924 | |
| | (0.08 | ) | | | 0.00 | | | $ | 21.46 | | | | 1.21 | % | | | 2.08 | % | | | 1.95 | % | | | (3.66 | )% | | | 105 | % | | $ | 13,869 | |
| | (3.26 | ) | | | 0.00 | | | $ | 22.70 | | | | 1.31 | % | | | 2.09 | % | | | 1.95 | % | | | (21.02 | )% | | | 80 | % | | $ | 31,892 | |
| | (1.78 | ) | | | 0.00 | | | $ | 32.51 | | | | 1.12 | % | | | 2.06 | % | | | 1.95 | % | | | 14.69 | % | | | 75 | % | | $ | 66,097 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | 0.00 | | | | 0.00 | | | $ | 26.47 | | | | 0.44 | % | | | 2.13 | % | | | 1.95 | % | | | 7.95 | % | | | 38 | % | | $ | 8,152 | |
| | 0.00 | | | | 0.00 | | | $ | 24.52 | | | | 0.65 | % | | | 2.11 | % | | | 1.95 | % | | | (5.26 | )% | | | 107 | % | | $ | 7,656 | |
| | 0.00 | | | | 0.00 | | | $ | 25.94 | | | | 0.68 | % | | | 2.10 | % | | | 1.95 | % | | | 16.45 | % | | | 70 | % | | $ | 8,388 | |
| | 0.00 | | | | 0.00 | | | $ | 22.93 | | | | 0.84 | % | | | 2.12 | % | | | 1.95 | % | | | 8.20 | % | | | 94 | % | | $ | 7,665 | |
| | (0.08 | ) | | | 0.00 | | | $ | 21.42 | | | | 1.21 | % | | | 2.06 | % | | | 1.95 | % | | | (3.69 | )% | | | 105 | % | | $ | 7,738 | |
| | (3.26 | ) | | | 0.00 | | | $ | 22.77 | | | | 1.33 | % | | | 2.08 | % | | | 1.95 | % | | | (21.02 | )% | | | 80 | % | | $ | 9,588 | |
| | (1.78 | ) | | | 0.00 | | | $ | 32.60 | | | | 1.12 | % | | | 2.06 | % | | | 1.95 | % | | | 14.72 | % | | | 75 | % | | $ | 15,226 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | 0.00 | | | | 0.00 | | | $ | 27.05 | | | | 1.43 | % | | | 1.22 | % | | | 0.95 | % | | | 8.50 | % | | | 38 | % | | $ | 163,645 | |
| | 0.00 | | | | 0.00 | | | $ | 24.93 | | | | 1.64 | % | | | 1.20 | % | | | 0.95 | % | | | (4.30 | )% | | | 107 | % | | $ | 220,021 | |
| | 0.00 | | | | 0.00 | | | $ | 26.39 | | | | 1.66 | % | | | 1.19 | % | | | 0.95 | % | | | 17.19 | % | | | 70 | % | | $ | 273,174 | |
| | 0.00 | | | | 0.00 | | | $ | 23.39 | | | | 2.04 | % | | | 1.19 | % | | | 0.95 | % | | | 9.32 | % | | | 94 | % | | $ | 287,073 | |
| | (0.08 | ) | | | 0.00 | | | $ | 21.81 | | | | 2.18 | % | | | 1.14 | % | | | 0.95 | % | | | (2.68 | )% | | | 105 | % | | $ | 861,399 | |
| | (3.26 | ) | | | 0.00 | | | $ | 23.29 | | | | 2.32 | % | | | 1.16 | % | | | 0.95 | % | | | (20.25 | )% | | | 80 | % | | $ | 1,161,210 | |
| | (1.78 | ) | | | 0.00 | | | $ | 33.29 | | | | 2.12 | % | | | 1.14 | % | | | 0.95 | % | | | 15.84 | % | | | 75 | % | | $ | 1,804,249 | |
Please see footnotes on page 22.
The accompanying notes are an integral part of these financial statements.
| | | | |
| 22 | | Wells Fargo Advantage Allocation Funds | | Financial highlights |
| | | | | | | | | | | | | | | | |
| | | | |
| | | Beginning
net asset
value per
share | | | Net
investment
income1 | | | Net realized
and unrealized
gains (losses)
on investments | | | Distributions
from net
investment
income | |
| | | | |
Moderate Balanced Fund | | | | | | | | | | | | | | | | |
Class A | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | $ | 18.84 | | | | 0.12 | | | | 1.07 | | | | 0.00 | |
June 1, 2011 to May 31, 2012 | | $ | 19.64 | | | | 0.32 | | | | (0.54 | ) | | | (0.58 | ) |
October 1, 2010 to May 31, 20114 | | $ | 17.97 | | | | 0.28 | | | | 1.80 | | | | (0.41 | ) |
October 1, 2009 to September 30, 2010 | | $ | 17.12 | | | | 0.38 | 5 | | | 1.03 | | | | (0.56 | ) |
October 1, 2008 to September 30, 2009 | | $ | 17.85 | | | | 0.38 | | | | (0.36 | ) | | | (0.57 | ) |
October 1, 2007 to September 30, 2008 | | $ | 22.76 | | | | 0.55 | | | | (3.34 | ) | | | (0.61 | ) |
October 1, 2006 to September 30, 2007 | | $ | 21.97 | | | | 0.65 | 5 | | | 1.73 | | | | (0.61 | ) |
Class B | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | $ | 18.86 | | | | 0.07 | 5 | | | 1.04 | | | | 0.00 | |
June 1, 2011 to May 31, 2012 | | $ | 19.58 | | | | 0.18 | 5 | | | (0.53 | ) | | | (0.37 | ) |
October 1, 2010 to May 31, 20114 | | $ | 17.85 | | | | 0.14 | 5 | | | 1.84 | | | | (0.25 | ) |
October 1, 2009 to September 30, 2010 | | $ | 16.99 | | | | 0.30 | | | | 0.97 | | | | (0.41 | ) |
October 1, 2008 to September 30, 2009 | | $ | 17.67 | | | | 0.26 | 5 | | | (0.34 | ) | | | (0.42 | ) |
October 1, 2007 to September 30, 2008 | | $ | 22.53 | | | | 0.42 | | | | (3.34 | ) | | | (0.43 | ) |
October 1, 2006 to September 30, 2007 | | $ | 21.76 | | | | 0.47 | 5 | | | 1.72 | | | | (0.44 | ) |
Class C | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | $ | 18.63 | | | | 0.07 | | | | 1.02 | | | | 0.00 | |
June 1, 2011 to May 31, 2012 | | $ | 19.45 | | | | 0.18 | 5 | | | (0.53 | ) | | | (0.47 | ) |
October 1, 2010 to May 31, 20114 | | $ | 17.77 | | | | 0.14 | 5 | | | 1.83 | | | | (0.29 | ) |
October 1, 2009 to September 30, 2010 | | $ | 16.96 | | | | 0.28 | 5 | | | 0.99 | | | | (0.46 | ) |
October 1, 2008 to September 30, 2009 | | $ | 17.64 | | | | 0.26 | 5 | | | (0.34 | ) | | | (0.42 | ) |
October 1, 2007 to September 30, 2008 | | $ | 22.52 | | | | 0.41 | | | | (3.33 | ) | | | (0.45 | ) |
October 1, 2006 to September 30, 2007 | | $ | 21.77 | | | | 0.47 | 5 | | | 1.72 | | | | (0.46 | ) |
Administrator Class | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | $ | 18.96 | | | | 0.22 | | | | 1.00 | | | | 0.00 | |
June 1, 2011 to May 31, 2012 | | $ | 19.77 | | | | 0.40 | | | | (0.58 | ) | | | (0.63 | ) |
October 1, 2010 to May 31, 20114 | | $ | 18.11 | | | | 0.29 | | | | 1.83 | | | | (0.46 | ) |
October 1, 2009 to September 30, 2010 | | $ | 17.23 | | | | 0.52 | 5 | | | 0.95 | | | | (0.59 | ) |
October 1, 2008 to September 30, 2009 | | $ | 17.98 | | | | 0.42 | 5 | | | (0.37 | ) | | | (0.62 | ) |
October 1, 2007 to September 30, 2008 | | $ | 22.90 | | | | 0.60 | | | | (3.36 | ) | | | (0.65 | ) |
October 1, 2006 to September 30, 2007 | | $ | 22.08 | | | | 0.67 | 5 | | | 1.77 | | | | (0.64 | ) |
| 1. | Includes net expenses allocated from the Master Portfolios in which the Fund invests. |
| 2. | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
| 3. | Portfolio turnover rate is calculated by aggregating the results of multiplying the Fund’s investment percentage in the respective Master Portfolio by the corresponding Master Portfolio’s portfolio turnover rate. |
| 4. | For the eight months ended May 31, 2011. The Fund changed its fiscal year end from September 30 to May 31, effective May 31, 2011. |
| 5. | Calculated based upon average shares outstanding |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Financial highlights | | Wells Fargo Advantage Allocation Funds | | | 23 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Distributions
from net
realized gains | | | Ending
net asset
value
per
share | | | Ratio to average net assets (annualized) | | | Total
return2 | | | Portfolio
turnover
rate3 | | | Net assets at
end of period
(000s omitted) | |
| | | Net investment
income1 | | | Gross
expenses1 | | | Net
expenses1 | | | | |
| | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | 0.00 | | | $ | 20.03 | | | | 1.43 | % | | | 1.35 | % | | | 1.15 | % | | | 6.32 | % | | | 42 | % | | $ | 10,281 | |
| | 0.00 | | | $ | 18.84 | | | | 1.68 | % | | | 1.33 | % | | | 1.15 | % | | | (0.93 | )% | | | 115 | % | | $ | 9,935 | |
| | 0.00 | | | $ | 19.64 | | | | 1.89 | % | | | 1.34 | % | | | 1.15 | % | | | 11.72 | % | | | 70 | % | | $ | 10,702 | |
| | 0.00 | | | $ | 17.97 | | | | 2.42 | % | | | 1.37 | % | | | 1.15 | % | | | 8.41 | % | | | 103 | % | | $ | 7,992 | |
| | (0.18 | ) | | $ | 17.12 | | | | 2.47 | % | | | 1.31 | % | | | 1.15 | % | | | 0.94 | % | | | 116 | % | | $ | 8,669 | |
| | (1.51 | ) | | $ | 17.85 | | | | 2.88 | % | | | 1.31 | % | | | 1.15 | % | | | (13.39 | )% | | | 89 | % | | $ | 8,524 | |
| | (0.98 | ) | | $ | 22.76 | | | | 2.80 | % | | | 1.28 | % | | | 1.15 | % | | | 11.33 | % | | | 82 | % | | $ | 9,839 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | 0.00 | | | $ | 19.97 | | | | 0.67 | % | | | 2.10 | % | | | 1.90 | % | | | 5.89 | % | | | 42 | % | | $ | 729 | |
| | 0.00 | | | $ | 18.86 | | | | 0.94 | % | | | 2.08 | % | | | 1.90 | % | | | (1.66 | )% | | | 115 | % | | $ | 807 | |
| | 0.00 | | | $ | 19.58 | | | | 1.11 | % | | | 2.09 | % | | | 1.90 | % | | | 11.16 | % | | | 70 | % | | $ | 1,097 | |
| | 0.00 | | | $ | 17.85 | | | | 1.65 | % | | | 2.12 | % | | | 1.90 | % | | | 7.58 | % | | | 103 | % | | $ | 1,257 | |
| | (0.18 | ) | | $ | 16.99 | | | | 1.72 | % | | | 2.06 | % | | | 1.90 | % | | | 0.19 | % | | | 116 | % | | $ | 1,720 | |
| | (1.51 | ) | | $ | 17.67 | | | | 2.13 | % | | | 2.06 | % | | | 1.90 | % | | | (14.06 | )% | | | 89 | % | | $ | 2,177 | |
| | (0.98 | ) | | $ | 22.53 | | | | 2.01 | % | | | 2.03 | % | | | 1.90 | % | | | 10.49 | % | | | 82 | % | | $ | 3,699 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | 0.00 | | | $ | 19.72 | | | | 0.69 | % | | | 2.10 | % | | | 1.90 | % | | | 5.85 | % | | | 42 | % | | $ | 2,641 | |
| | 0.00 | | | $ | 18.63 | | | | 0.92 | % | | | 2.08 | % | | | 1.90 | % | | | (1.67 | )% | | | 115 | % | | $ | 2,319 | |
| | 0.00 | | | $ | 19.45 | | | | 1.16 | % | | | 2.09 | % | | | 1.90 | % | | | 11.17 | % | | | 70 | % | | $ | 2,364 | |
| | 0.00 | | | $ | 17.77 | | | | 1.59 | % | | | 2.12 | % | | | 1.90 | % | | | 7.58 | % | | | 103 | % | | $ | 1,726 | |
| | (0.18 | ) | | $ | 16.96 | | | | 1.72 | % | | | 2.05 | % | | | 1.90 | % | | | 0.21 | % | | | 116 | % | | $ | 1,445 | |
| | (1.51 | ) | | $ | 17.64 | | | | 2.13 | % | | | 2.05 | % | | | 1.90 | % | | | (14.05 | )% | | | 89 | % | | $ | 1,677 | |
| | (0.98 | ) | | $ | 22.52 | | | | 2.03 | % | | | 2.03 | % | | | 1.90 | % | | | 10.49 | % | | | 82 | % | | $ | 2,034 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | 0.00 | | | $ | 20.18 | | | | 1.68 | % | | | 1.19 | % | | | 0.90 | % | | | 6.38 | % | | | 42 | % | | $ | 152,202 | |
| | 0.00 | | | $ | 18.96 | | | | 1.92 | % | | | 1.17 | % | | | 0.90 | % | | | (0.66 | )% | | | 115 | % | | $ | 172,587 | |
| | 0.00 | | | $ | 19.77 | | | | 2.14 | % | | | 1.18 | % | | | 0.90 | % | | | 11.93 | % | | | 70 | % | | $ | 192,305 | |
| | 0.00 | | | $ | 18.11 | | | | 3.06 | % | | | 1.18 | % | | | 0.90 | % | | | 8.65 | % | | | 103 | % | | $ | 176,179 | |
| | (0.18 | ) | | $ | 17.23 | | | | 2.72 | % | | | 1.13 | % | | | 0.90 | % | | | 1.14 | % | | | 116 | % | | $ | 330,340 | |
| | (1.51 | ) | | $ | 17.98 | | | | 3.13 | % | | | 1.13 | % | | | 0.90 | % | | | (13.17 | )% | | | 89 | % | | $ | 407,829 | |
| | (0.98 | ) | | $ | 22.90 | | | | 3.00 | % | | | 1.10 | % | | | 0.90 | % | | | 11.59 | % | | | 82 | % | | $ | 533,729 | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 24 | | Wells Fargo Advantage Allocation Funds | | Notes to financial statements (unaudited) |
1. ORGANIZATION
Wells Fargo Funds Trust (the “Trust”), a Delaware statutory trust organized on March 10, 1999, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). These financial statements report on the following funds: Wells Fargo Advantage Conservative Allocation Fund (“Conservative Allocation Fund”), Wells Fargo Advantage Growth Balanced Fund (“Growth Balanced Fund”), and Wells Fargo Advantage Moderate Balanced Fund (“Moderate Balanced Fund”) (each, a “Fund”, collectively, the “Funds”). Each Fund is a diversified series of the Trust.
The Funds each seek to achieve their investment objective by investing all investable assets in one or more separate diversified portfolios (each, a “Master Portfolio”, collectively, the “Master Portfolios”) of Wells Fargo Master Trust, a registered open-end management investment company. Each Master Portfolio directly acquires portfolio securities, and a Fund investing in a Master Portfolio acquires an indirect interest in those securities. Each Fund accounts for its investment in the Master Portfolios as partnership investments and records daily its share of the Master Portfolio’s income, expense and realized and unrealized gains and losses. The financial statements of the Master Portfolios for the six months ended November 30, 2012 are included in this report and should be read in conjunction with each Fund’s financial statements. As of November 30, 2012, the Funds own the following percentages of the Master Portfolios:
| | | | | | | | | | | | |
| | | Conservative
Allocation
Fund | | | Growth
Balanced
Fund | | | Moderate
Balanced
Fund | |
Wells Fargo Advantage C&B Large Cap Value Portfolio | | | 0 | %* | | | 4 | % | | | 2 | % |
Wells Fargo Advantage Core Bond Portfolio | | | 0 | * | | | 0 | * | | | 0 | * |
Wells Fargo Advantage Diversified Large Cap Growth Portfolio | | | 1 | | | | 25 | | | | 11 | |
Wells Fargo Advantage Emerging Growth Portfolio | | | 0 | * | | | 0 | * | | | 0 | * |
Wells Fargo Advantage Equity Value Portfolio | | | 0 | * | | | 1 | | | | 1 | |
Wells Fargo Advantage Index Portfolio | | | 0 | * | | | 1 | | | | 1 | |
Wells Fargo Advantage Inflation-Protected Bond Portfolio | | | 3 | | | | 10 | | | | 9 | |
Wells Fargo Advantage International Equity Portfolio | | | 1 | | | | 25 | | | | 11 | |
Wells Fargo Advantage International Growth Portfolio | | | 0 | * | | | 5 | | | | 2 | |
Wells Fargo Advantage International Index Portfolio | | | 1 | | | | 25 | | | | 11 | |
Wells Fargo Advantage International Value Portfolio | | | 0 | * | | | 2 | | | | 1 | |
Wells Fargo Advantage Large Company Value Portfolio | | | 1 | | | | 25 | | | | 11 | |
Wells Fargo Advantage Managed Fixed Income Portfolio | | | 13 | | | | 45 | | | | 43 | |
Wells Fargo Advantage Small Cap Value Portfolio | | | 1 | | | | 22 | | | | 10 | |
Wells Fargo Advantage Small Company Growth Portfolio | | | 0 | * | | | 3 | | | | 1 | |
Wells Fargo Advantage Small Company Value Portfolio | | | 0 | * | | | 2 | | | | 1 | |
Wells Fargo Advantage Stable Income Portfolio | | | 29 | | | | N/A | | | | 71 | |
| * | The amount invested is less than 1%. |
2. SIGNIFICANT ACCOUNTING POLICIES
The following significant accounting policies, which are consistently followed in the preparation of the financial statements of each Fund, are in conformity with U.S. generally accepted accounting principles which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Securities valuation
All investments are valued each business day as of the close of regular trading on the New York Stock Exchange (normally 4 p.m. Eastern Time).
Investments in the Master Portfolios are valued daily based on each Fund’s proportionate share of each Master Portfolio’s net assets, which are also valued daily. Securities held in the Master Portfolios are valued as discussed in the Notes to Financial Statements of the Master Portfolios, which are included elsewhere in this report.
| | | | | | |
| Notes to financial statements (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 25 | |
Debt securities of sufficient credit quality acquired with maturities of 60 days or less generally are valued at amortized cost which approximates fair value. The amortized cost method involves valuing a security at its cost, plus accretion of discount or minus amortization of premium over the period until maturity.
Investments which are not valued using any of the methods discussed above are valued at their fair value, as determined by procedures established in good faith and approved by the Board of Trustees. The Board of Trustees has established a Valuation Committee comprised of the Trustees and has delegated to it the authority to take any actions regarding the valuation of portfolio securities that the Valuation Committee deems necessary or appropriate, including determining the fair value of portfolio securities, unless the determination has been delegated to the Management Valuation Team of Wells Fargo Funds Management, LLC (“Funds Management”). The Board of Trustees retains the authority to make or ratify any valuation decisions or approve any changes to the Valuation Procedures as it deems appropriate. On a quarterly basis, the Board of Trustees receives reports on any valuation actions taken by the Valuation Committee or the Management Valuation Team which may include items for ratification.
Valuations of fair valued securities are compared to the next actual sales price when available, or other appropriate market information to assess the continued appropriateness of the fair valuation methodology used. These securities are fair valued on a day-to-day basis, taking into consideration changes to appropriate market information and any significant changes to the input factors considered in the valuation process until there is a readily available price provided on the exchange or by an independent pricing service. Valuations received from an independent pricing service or broker quotes are periodically validated by comparisons to most recent trades and valuations provided by other independent pricing services in addition to the review of prices by the adviser and/or subadviser. Unobservable inputs used in determining fair valuations are identified based on the type of security, taking into consideration factors utilized by market participants in valuing the investment, knowledge about the issuer and the current market environment.
Futures contracts
Each Fund may be subject to interest rate risk and equity price risk in the normal course of pursuing its investment objectives. The Fund may buy and sell futures contracts in order to gain exposure to, or protect against, changes in security values and interest rates. The primary risks associated with the use of futures contracts are the imperfect correlation between changes in market values of securities held by the Fund and the prices of futures contracts, and the possibility of an illiquid market.
Futures contracts are valued based upon their quoted daily settlement prices when available. The aggregate principal amounts of the contracts are not recorded in the financial statements. Fluctuations in the value of the contracts are recorded in the Statements of Assets and Liabilities as an asset or liability and in the Statements of Operations as unrealized gains or losses until the contracts are closed, at which point they are recorded as net realized gains or losses on futures contracts. With futures contracts, there is minimal counterparty risk to the Fund since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default.
Security transactions and income recognition
Securities transactions are recorded on a trade date basis by the Fund and each Master Portfolio. Realized gains or losses are recorded on the basis of identified cost by the Fund and each Master Portfolio.
Interest income is accrued daily and bond discounts are accreted and premiums are amortized daily based on the effective interest method by the Fund and each Master Portfolio. To the extent debt obligations are placed on non-accrual status, any related interest income may be reduced by writing off interest receivables when the collection of all or a portion of interest has become doubtful based on consistently applied procedures. If the issuer subsequently resumes interest payments or when the collectability of interest is reasonably assured, the debt obligation is removed from non-accrual status.
Dividend income in each Master Portfolio is recognized on the ex-dividend date, except for certain dividends from foreign securities, which are recorded as soon as the Master Portfolio is informed of the ex-dividend date.
Dividend and interest income from foreign securities in each Master Portfolio is recorded net of foreign taxes withheld where recovery of such taxes is not assured.
| | | | |
| 26 | | Wells Fargo Advantage Allocation Funds | | Notes to financial statements (unaudited) |
Each Fund records on a daily basis its proportionate share of each Master Portfolio’s interest and dividend income, in addition to expenses, waivers, and realized and unrealized gains or losses.
Distributions to shareholders
Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-dividend date. Such distributions are determined in conformity with federal income tax regulations, which may differ in amount or character from net investment income and realized gains recognized for purposes of U.S. generally accepted accounting principles.
Federal and other taxes
Each Fund is treated as a separate entity for federal income tax purposes. Each Fund intends to continue to qualify as a regulated investment company by distributing substantially all of its investment company taxable income and any net realized capital gains (after reduction for capital loss carryforwards) sufficient to relieve it from all, or substantially all, federal income taxes. Accordingly, no provision for federal income taxes was required.
Each Fund’s income and federal excise tax returns and all financial records supporting those returns for the prior three fiscal years are subject to examination by the federal and Delaware revenue authorities. Management has analyzed each Fund’s tax positions taken on federal, state, and foreign tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability.
At May 31, 2012, net capital loss carryforwards, which are available to offset future net realized capital gains, were as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Pre-enactment capital loss expiration* | | | | | Post-enactment capital losses** | |
| | | 2016 | | | 2017 | | | 2018 | | | 2019 | | | | | Short-term | | | Long-term | |
Conservative Allocation Fund | | $ | 0 | | | $ | 14,978,984 | | | $ | 6,065,292 | | | $ | 3,688,341 | | | | | $ | 0 | | | $ | 0 | |
Growth Balanced Fund | | | 18,749,350 | | | | 88,381,433 | | | | 82,578,227 | | | | 0 | | | | | | 5,465,588 | | | | 1,656,889 | |
Moderate Balanced Fund | | | 0 | | | | 8,053,054 | | | | 9,979,052 | | | | 0 | | | | | | 355,374 | | | | 0 | |
| * | Losses incured in taxable years beginning before December 22, 2010. |
| ** | Losses incured in taxable years which began after December 22, 2010 are carried forwad for an unlimited period. |
Class allocations
The separate classes of shares offered by each Fund differ principally in applicable sales charges, distribution, shareholder servicing, and administration fees. Shareholders of each class bear certain expenses that pertain to that particular class. All shareholders bear the common expenses of a Fund, earn income from the portfolio, and are allocated unrealized gains and losses pro rata based on the average daily net assets of each class, without distinction between share classes. Dividends are determined separately for each class based on income and expenses allocable to each class. Realized gains and losses are allocated to each class pro rata based upon the net assets of each class on the date realized. Differences in per share dividend rates generally result from the relative weightings of pro rata income and realized gain allocations and from differences in separate class expenses, including distribution, shareholder servicing, and administration fees.
3. FAIR VALUATION MEASUREMENTS
Fair value measurements of investments are determined within a framework that has established a fair value hierarchy based upon the various data inputs utilized in determining the value of each Fund’s investments. The three-level hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to significant unobservable inputs (Level 3). Each Fund’s investments are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement. The inputs are summarized into three broad levels as follows:
| n | | Level 1 – quoted prices in active markets for identical securities |
| n | | Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
| n | | Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments) |
The inputs or methodologies used for valuing investments in securities are not necessarily an indication of the risk associated with investing in those securities.
| | | | | | |
| Notes to financial statements (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 27 | |
As of May 31, 2012, the inputs used in valuing investments in securities, which are carried at fair value, were as follows:
| | | | | | | | | | | | | | | | |
| Investments in securities | | Quoted prices
(Level 1) | | | Significant other
observable inputs
(Level 2) | | | Significant unobservable inputs
(Level 3) | | | Total | |
Conservative Allocation Fund | | | | | | | | | | | | | | | | |
| | | | |
Equity securities | | | | | | | | | | | | | | | | |
Investment companies | | $ | 0 | | | $ | 40,984,530 | | | $ | 0 | | | $ | 40,984,530 | |
| | | | |
Other | | | 0 | | | | 0 | | | | 7,197 | | | | 7,197 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
U.S. Treasury securities | | | 164,988 | | | | 0 | | | | 0 | | | | 164,988 | |
| | | $ | 164,988 | | | $ | 40,984,530 | | | $ | 7,197 | | | $ | 41,156,715 | |
Growth Balanced Fund | | | | | | | | | | | | | | | | |
| | | | |
Equity securities | | | | | | | | | | | | | | | | |
Investment companies | | $ | 0 | | | $ | 223,418,659 | | | $ | 0 | | | $ | 223,418,659 | |
| | | | |
Other | | | 0 | | | | 0 | | | | 74,587 | | | | 74,587 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
U.S. Treasury securities | | | 4,324,684 | | | | 0 | | | | 0 | | | | 4,324,684 | |
| | | $ | 4,324,684 | | | $ | 223,418,659 | | | $ | 74,587 | | | $ | 227,817,930 | |
Moderate Balanced Fund | | | | | | | | | | | | | | | | |
| | | | |
Equity securities | | | | | | | | | | | | | | | | |
Investment companies | | $ | 0 | | | $ | 164,669,631 | | | $ | 0 | | | $ | 164,669,631 | |
| | | | |
Other | | | 0 | | | | 0 | | | | 13,543 | | | | 13,543 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
U.S. Treasury securities | | | 1,739,873 | | | | 0 | | | | 0 | | | | 1,739,873 | |
| | | $ | 1,739,873 | | | $ | 164,669,631 | | | $ | 13,543 | | | $ | 166,423,047 | |
Further details on the major security types listed above can be found in each Fund’s Portfolio of Investments.
As of November 30, 2012, the inputs used in valuing the Fund’s other financial instruments, which are carried at fair value, were as follows:
| | | | | | | | | | | | | | | | |
| Futures contracts+ | | Quoted prices
(Level 1) | | | Significant other
observable inputs
(Level 2) | | | Significant
unobservable inputs
(Level 3) | | | Total | |
Conservative Allocation Fund | | $ | (14,682 | ) | | $ | 0 | | | $ | 0 | | | $ | (14,682 | ) |
Growth Balanced Fund | | $ | (556,645 | ) | | $ | 0 | | | $ | 0 | | | $ | (556,645 | ) |
Moderate Balanced Fund | | $ | (270,009 | ) | | $ | 0 | | | $ | 0 | | | $ | (270,009 | ) |
| + | Futures contracts are presented at the unrealized gains or losses on the instruments. |
Transfers in and transfers out are recognized at the end of the reporting period. For the six months ended November 30, 2012, the Funds did not have any transfers into/out of Level 1 or Level 2.
4. TRANSACTIONS WITH AFFILIATES AND OTHER EXPENSES
Advisory fees
The Trust has entered into an advisory contract with Funds Management, an indirect wholly owned subsidiary of Wells Fargo & Company (“Wells Fargo”). The adviser is responsible for implementing investment policies and guidelines and for supervising the subadvisor who is responsible for day-to-day portfolio management of the Funds.
Funds Management is entitled to receive an annual advisory fee starting at 0.25% and declining to 0.19% as the average daily net assets of each Fund increases. Prior to October 1, 2012, Funds Management received an annual advisory fee of 0.25% of each Fund’s average daily net assets. For the six months ended November 30, 2012, the advisory fee was equivalent to an annual rate of 0.25% of each Fund’s average daily net assets.
| | | | |
| 28 | | Wells Fargo Advantage Allocation Funds | | Notes to financial statements (unaudited) |
Funds Management has retained the services of a subadviser to provide daily portfolio management to the Funds. The fee for subadvisory services is borne by Funds Management. Wells Capital Management Incorporated, an affiliate of Funds Management, is the subadviser to each Fund and is entitled to receive a fee from Funds Management at an annual rate starting at 0.10% and declining to 0.05% as the average daily net assets of each Fund increase.
Funds Management also serves as the adviser to each Master Portfolio and is entitled to receive a fee from each Master Portfolio for those services.
Administration and transfer agent fees
The Trust has entered into an administration agreement with Funds Management. Under this agreement, for providing administrative services, which includes paying fees and expenses for services provided by the transfer agent, sub-transfer agents, omnibus account servicers and record-keepers, Funds Management is entitled to receive from each Fund an annual fund level administration fee starting at 0.05% and declining to 0.03% as the average daily net assets of each Fund increase and a class level administration fee which is calculated based on the average daily net assets of each class as follows:
| | | | |
| | | Class level administration fee | |
Class A, Class B, Class C | | | 0.26 | % |
Administrator Class | | | 0.10 | |
Funds Management has contractually waived and/or reimbursed advisory and administration fees to the extent necessary to maintain certain net operating expense ratios for the Funds. Waiver of fees and/or reimbursement of expenses by Funds Management were made first from fund level expenses on a proportionate basis and then from class specific expenses. Funds Management has committed to waive fees and/or reimburse expenses to the extent necessary to cap each Fund’s expenses as follows:
| | | | | | | | | | | | | | | | | | |
| | | Expiration date | | Class A | | | Class B | | | Class C | | | Administrator Class | |
Conservative Allocation Fund | | September 30, 2013 | | | N/A | | | | N/A | | | | N/A | | | | 0.85 | % |
Growth Balanced Fund | | September 30, 2013 | | | 1.20 | % | | | 1.95 | % | | | 1.95 | % | | | 0.95 | % |
Moderate Balanced Fund | | September 30, 2013 | | | 1.15 | % | | | 1.90 | % | | | 1.90 | % | | | 0.90 | % |
Distribution fees
The Trust has adopted a Distribution Plan for Class B and Class C shares of the applicable Funds pursuant to Rule 12b-1 under the 1940 Act. Distribution fees are charged to the Class B and Class C shares and paid to Wells Fargo Funds Distributor, LLC, the principal underwriter of each Fund, at an annual rate of 0.75% of the average daily net assets of Class B and Class C shares.
For the six months ended November 30, 2012, Wells Fargo Funds Distributor, LLC received the following amounts in front-end sales charges and contingent deferred sales charges.
| | | | | | | | | | | | |
| | | Front-end
sales charges Class A | | | Contingent deferred sales charges | |
| | | | Class B | | | Class C | |
Growth Balanced Fund | | $ | 1,806 | | | $ | 79 | | | $ | 64 | |
Moderate Balanced Fund | | | 3,344 | | | | 162 | | | | 0 | |
Shareholder servicing fees
The Trust has entered into contracts with one or more shareholder servicing agents, whereby Class A, Class B, Class C, and Administrator Class of each applicable Fund is charged a fee at an annual rate of 0.25% of the average daily net assets of each respective class.
A portion of these total shareholder servicing fees were paid to affiliates of Wells Fargo.
| | | | | | |
| Notes to financial statements (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 29 | |
5. INVESTMENT PORTFOLIO TRANSACTIONS
Purchases and sales of investments, excluding U.S. Government obligations (if any) and short-term securities, for the six months ended November 30, 2012 were as follows:
| | | | | | | | |
| | | Purchases at cost* | | | Sales proceeds* | |
Conservative Allocation Fund | | $ | 20,572,344 | | | $ | 24,428,636 | |
Growth Balanced Fund | | | 91,671,744 | | | | 120,453,707 | |
Moderate Balanced Fund | | | 74,800,822 | | | | 92,726,030 | |
| * | The Funds seek to achieve their investment objective by investing some or all of their investable assets in one or more Master Portfolios. Purchases and sales related to these investments have been calculated by aggregating the results of multiplying each Fund’s ownership percentage of the respective Master Portfolio by the corresponding Master Portfolio’s purchases and sales. Purchases and sales of unaffiliated securities in which the Funds invest are actual purchases and sale of those securities. |
6. DERIVATIVE TRANSACTIONS
During the six months ended November 30, 2012, the Funds entered into futures contracts to gain market exposure to certain asset classes consistent with an active asset allocation strategy.
At November 30, 2012, the Funds had long and short futures contracts outstanding as follows:
| | | | | | | | | | | | | | |
| | | Expiration date | | Contracts | | Type | | Contract value at
November 30, 2012 | | | Unrealized
losses | |
Conservative Allocation Fund | | 12-20-12 | | 6 Long | | S&P 500 Index | | $ | 2,121,600 | | | $ | (8,041 | ) |
| | 3-19-13 | | 13 Short | | 30-Year U.S. Treasury Bonds | | | 1,950,813 | | | | (6,641 | ) |
Growth Balanced Fund | | 12-20-12 | | 97 Long | | S&P 500 Index | | | 34,299,200 | | | | (442,604 | ) |
| | 3-19-13 | | 227 Short | | 30-Year U.S. Treasury Bonds | | | 34,064,188 | | | | (114,041 | ) |
Moderate Balanced Fund | | 12-20-12 | | 47 Long | | S&P 500 Index | | | 16,619,200 | | | | (214,457 | ) |
| | 3-19-13 | | 111 Short | | 30-Year U.S. Treasury Bonds | | | 16,656,938 | | | | (55,552 | ) |
The Funds had average notional amounts in futures contracts outstanding during the six months ended November 30, 2012 as follows:
| | | | | | | | |
| | | Long contracts | | | Short contracts | |
Conservative Allocation Fund | | $ | 1,741,417 | | | $ | 1,940,946 | |
Growth Balanced Fund | | | 36,086,585 | | | | 35,672,456 | |
Moderate Balanced Fund | | | 16,795,756 | | | | 16,548,348 | |
A summary of derivative instruments by primary risk exposure is outlined in the following tables.
The fair value of derivative instruments as of November 30, 2012 was as follows for Conservative Allocation Fund:
| | | | | | |
| | | Liability derivatives | |
| | | Balance sheet location | | Fair value | |
Interest rate contracts | | Net assets – Net unrealized gains on investments | | $ | 6,641 | * |
Equity contracts | | Net assets – Net unrealized gains on investments | | | 8,041 | * |
| | | | | $ | 14,682 | |
| * | Amount represents cumulative unrealized gains/losses on futures contracts. Only the variation margin as of November 30, 2012 is reported separately on the Statements of Assets and Liabilities. |
| | | | |
| 30 | | Wells Fargo Advantage Allocation Funds | | Notes to financial statements (unaudited) |
The effect of derivative instruments on the Statements of Operations for the six months ended November 30, 2012 was as follows for Conservative Allocation Fund:
| | | | | | | | |
| | | Amount of realized
gains (losses) on
derivatives | | | Change in unrealized
gains (losses) on
derivatives | |
Interest rate contracts | | $ | (41,183 | ) | | $ | 29,956 | |
Equity contracts | | | 123,869 | | | | 39,209 | |
| | | $ | 82,686 | | | $ | 69,165 | |
The fair value of derivative instruments as of November 30, 2012 was as follows for Growth Balanced Fund:
| | | | | | |
| | | Liability derivatives | |
| | | Balance sheet location | | Fair value | |
Interest rate contracts | | Net assets – Net unrealized gains on investments | | $ | 114,041 | * |
Equity contracts | | Net assets – Net unrealized gains on investments | | | 442,604 | * |
| | | | | $ | 556,645 | |
| * | Amount represents cumulative unrealized gains/losses on futures contracts. Only the variation margin as of November 30, 2012 is reported separately on the Statements of Assets and Liabilities. |
The effect of derivative instruments on the Statements of Operations for the six months ended November 30, 2012 was as follows for Growth Balanced Fund:
| | | | | | | | |
| | | Amount of realized
gains (losses) on
derivatives | | | Change in unrealized
gains (losses) on
derivatives | |
Interest rate contracts | | $ | (968,106 | ) | | $ | 677,016 | |
Equity contracts | | | 2,362,688 | | | | 767,572 | |
| | | $ | 1,394,582 | | | $ | 1,444,588 | |
The fair value of derivative instruments as of November 30, 2012 was as follows for Moderate Balanced Fund:
| | | | | | |
| | | Liability Derivatives | |
| | | Balance sheet location | | Fair value | |
Interest rate contracts | | Net assets – Net unrealized gains on investments | | $ | 55,552 | * |
Equity contracts | | Net assets – Net unrealized gains on investments | | | 214,457 | * |
| | | | | $ | 270,009 | |
| * | Amount represents cumulative unrealized gains/losses on futures contracts. Only the variation margin as of November 30, 2012 is reported separately on the Statements of Assets and Liabilities. |
The effect of derivative instruments on the Statements of Operations for the six months ended November 30, 2012 was as follows for Moderate Balanced Fund:
| | | | | | | | |
| | | Amount of realized
gains (losses) on
derivatives | | | Change in unrealized
gains (losses) on
derivatives | |
Interest rate contracts | | $ | (428,315 | ) | | $ | 296,342 | |
Equity contracts | | | 1,152,683 | | | | 314,996 | |
| | | $ | 724,368 | | | $ | 611,338 | |
| | | | | | |
| Notes to financial statements (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 31 | |
8. BANK BORROWINGS
Each Fund and certain other funds in the Trust are party to a $25,000,000 revolving credit agreement with the Bank of New York Mellon, whereby the Funds are permitted to use bank borrowings for temporary or emergency purposes, such as to fund shareholder redemption requests. Interest under the credit agreement is charged to each Fund based on a borrowing rate equal to the higher of the Federal Funds rate in effect on that day plus 1.25% or the overnight LIBOR rate in effect on that day plus 1.25%. In addition, an annual commitment fee equal to 0.15% of the unused balance is allocated to each participating fund. For the six months ended November 30, 2012, the Funds paid the following amounts in commitment fees:
| | | | |
| | | Commitment Fee | |
Conservative Allocation Fund | | $ | 48 | |
Growth Balanced Fund | | | 439 | |
Moderate Balanced Fund | | | 218 | |
For the six months ended November 30, 2012, there were no borrowings by the Funds under the agreement.
9. INDEMNIFICATION
Under the Trust’s organizational documents, the officers and directors are indemnified against certain liabilities that may arise out of performance of their duties to the Trust. Additionally, in the normal course of business, the Trust may enter into contracts with service providers that contain a variety of indemnification clauses. The Trust’s maximum exposure under these arrangements is dependent on future claims that may be made against the Funds and, therefore, cannot be estimated.
10. NEW ACCOUNTING PRONOUNCEMENT
In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2011-11, Disclosures about Offsetting Assets and Liabilities. ASU 2011-11, which amends FASB ASC Topic 210, Balance Sheet, creates new disclosure requirements which require entities to disclose both gross and net information for derivatives and other financial instruments that are either offset in the Statement of Assets and Liabilities or subject to an enforceable master netting arrangement or similar agreement. The disclosure requirements are effective for interim and annual reporting periods beginning on or after January 1, 2013. Management is currently assessing the potential impact, in addition to expanded financial statement disclosure, that may result from adopting this ASU.
11. FUND LIQUIDATION
At its November 6-7, 2012 meeting, the Board of Trustees unanimously approved the liquidation of Conservative Allocation Fund. The liquidation is expected to occur after the close of business on or around May 24, 2013. On the date of the liquidation, shareholders of Conservative Allocation Fund will receive a distribution of their account proceeds, including any accrued dividends, in complete redemption of their shares.
12. SUBSEQUENT DISTRIBUTIONS
On December 17, 2012, the Fund’s declared distributions from net investment income to shareholders of record on December 14, 2012. The per share amounts payable on December 18, 2012 were as follows:
| | | | | | | | | | | | |
| | | Conservative
Allocation
Fund | | | Growth Balanced Fund | | | Moderate Balanced Fund | |
Net investment income | | | | | | | | | | | | |
Class A | | | N/A | | | $ | 0.43926 | | | $ | 0.34144 | |
Class B | | | N/A | | | | 0.13070 | | | | 0.17202 | |
Class C | | | N/A | | | | 0.25480 | | | | 0.20048 | |
Administrator Class | | $ | 0.34782 | | | | 0.51115 | | | | 0.39070 | |
These distributions are not reflected in the accompanying financial statements.
| | | | |
| 32 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
C&B LARGE CAP VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Common Stocks: 97.17% | | | | | | | | | | | | |
| | | | |
Consumer Discretionary: 16.12% | | | | | | | | | | | | |
| | | | |
| Hotels, Restaurants & Leisure: 5.87% | | | | | | | | | | | | |
Carnival Corporation « | | | | | | | 145,100 | | | $ | 5,609,566 | |
Darden Restaurants Incorporated « | | | | | | | 107,300 | | | | 5,674,024 | |
McDonald’s Corporation | | | | | | | 85,400 | | | | 7,433,216 | |
| | | | |
| | | | | | | | | | | 18,716,806 | |
| | | | | | | | | | | | |
| | | | |
| Household Durables: 3.33% | | | | | | | | | | | | |
NVR Incorporated † | | | | | | | 11,800 | | | | 10,618,112 | |
| | | | | | | | | | | | |
| | | | |
| Media: 3.44% | | | | | | | | | | | | |
Omnicom Group Incorporated « | | | | | | | 220,700 | | | | 10,977,618 | |
| | | | | | | | | | | | |
| | | | |
| Multiline Retail: 2.39% | | | | | | | | | | | | |
Kohl’s Corporation | | | | | | | 170,500 | | | | 7,612,825 | |
| | | | | | | | | | | | |
| | | | |
| Specialty Retail: 1.09% | | | | | | | | | | | | |
Best Buy Company Incorporated « | | | | | | | 265,000 | | | | 3,474,150 | |
| | | | | | | | | | | | |
| | | | |
Consumer Staples: 11.69% | | | | | | | | | | | | |
| | | | |
| Beverages: 3.19% | | | | | | | | | | | | |
Coca-Cola Enterprises Incorporated | | | | | | | 168,900 | | | | 5,266,302 | |
Diageo plc ADR « | | | | | | | 40,960 | | | | 4,897,587 | |
| | | | |
| | | | | | | | | | | 10,163,889 | |
| | | | | | | | | | | | |
| | | | |
| Household Products: 5.52% | | | | | | | | | | | | |
Colgate-Palmolive Company | | | | | | | 57,300 | | | | 6,217,050 | |
Henkel AG & Company KGaA ADR | | | | | | | 68,000 | | | | 4,607,741 | |
Procter & Gamble Company | | | | | | | 96,900 | | | | 6,766,527 | |
| | | | |
| | | | | | | | | | | 17,591,318 | |
| | | | | | | | | | | | |
| | | | |
| Personal Products: 1.03% | | | | | | | | | | | | |
Avon Products Incorporated | | | | | | | 235,500 | | | | 3,285,225 | |
| | | | | | | | | | | | |
| | | | |
| Tobacco: 1.95% | | | | | | | | | | | | |
Philip Morris International | | | | | | | 69,400 | | | | 6,237,672 | |
| | | | | | | | | | | | |
| | | | |
Energy: 6.28% | | | | | | | | | | | | |
| | | | |
| Oil, Gas & Consumable Fuels: 6.28% | | | | | | | | | | | | |
Chevron Corporation | | | | | | | 57,800 | | | | 6,108,882 | |
Devon Energy Corporation | | | | | | | 92,900 | | | | 4,800,143 | |
Exxon Mobil Corporation | | | | | | | 103,500 | | | | 9,122,490 | |
| | | | |
| | | | | | | | | | | 20,031,515 | |
| | | | | | | | | | | | |
| | | | |
Financials: 20.40% | | | | | | | | | | | | |
| | | | |
| Capital Markets: 5.06% | | | | | | | | | | | | |
Charles Schwab Corporation | | | | | | | 421,900 | | | | 5,526,890 | |
State Street Corporation | | | | | | | 238,900 | | | | 10,616,716 | |
| | | | |
| | | | | | | | | | | 16,143,606 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 33 | |
C&B LARGE CAP VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Commercial Banks: 1.58% | | | | | | | | | | | | |
PNC Financial Services Group Incorporated | | | | | | | 89,800 | | | $ | 5,041,372 | |
| | | | | | | | | | | | |
| | | | |
| Consumer Finance: 2.70% | | | | | | | | | | | | |
American Express Company | | | | | | | 153,800 | | | | 8,597,420 | |
| | | | | | | | | | | | |
| | | | |
| Diversified Financial Services: 6.48% | | | | | | | | | | | | |
Bank of America Corporation | | | | | | | 431,200 | | | | 4,251,632 | |
Berkshire Hathaway Incorporated Class B † | | | | | | | 72,700 | | | | 6,403,416 | |
JPMorgan Chase & Company | | | | | | | 243,300 | | | | 9,994,764 | |
| | | | |
| | | | | | | | | | | 20,649,812 | |
| | | | | | | | | | | | |
| | | | |
| Insurance: 4.58% | | | | | | | | | | | | |
Axis Capital Holdings Limited | | | | | | | 155,300 | | | | 5,586,141 | |
The Progressive Corporation « | | | | | | | 235,000 | | | | 4,993,750 | |
Willis Group Holdings plc « | | | | | | | 114,600 | | | | 4,020,168 | |
| | | | |
| | | | | | | | | | | 14,600,059 | |
| | | | | | | | | | | | |
| | | | |
Health Care: 11.44% | | | | | | | | | | | | |
| | | | |
| Health Care Equipment & Supplies: 4.06% | | | | | | | | | | | | |
Baxter International Incorporated | | | | | | | 103,400 | | | | 6,852,318 | |
Becton Dickinson & Company « | | | | | | | 79,700 | | | | 6,110,599 | |
| | | | |
| | | | | | | | | | | 12,962,917 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Providers & Services: 4.30% | | | | | | | | | | | | |
Cardinal Health Incorporated | | | | | | | 151,600 | | | | 6,132,220 | |
Quest Diagnostics Incorporated « | | | | | | | 131,200 | | | | 7,580,736 | |
| | | | |
| | | | | | | | | | | 13,712,956 | |
| | | | | | | | | | | | |
| | | | |
| Pharmaceuticals: 3.08% | | | | | | | | | | | | |
Johnson & Johnson Services Incorporated « | | | | | | | 140,700 | | | | 9,811,011 | |
| | | | | | | | | | | | |
| | | | |
Industrials: 11.23% | | | | | | | | | | | | |
| | | | |
| Aerospace & Defense: 2.58% | | | | | | | | | | | | |
Raytheon Company | | | | | | | 143,900 | | | | 8,221,007 | |
| | | | | | | | | | | | |
| | | | |
| Air Freight & Logistics: 1.44% | | | | | | | | | | | | |
United Parcel Service Incorporated Class B | | | | | | | 62,700 | | | | 4,583,997 | |
| | | | | | | | | | | | |
| | | | |
| Commercial Services & Supplies: 2.05% | | | | | | | | | | | | |
Cintas Corporation « | | | | | | | 158,200 | | | | 6,555,808 | |
| | | | | | | | | | | | |
| | | | |
| Industrial Conglomerates: 2.67% | | | | | | | | | | | | |
3M Company | | | | | | | 93,500 | | | | 8,503,825 | |
| | | | | | | | | | | | |
| | | | |
| Machinery: 2.49% | | | | | | | | | | | | |
Illinois Tool Works Incorporated « | | | | | | | 128,800 | | | | 7,930,216 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 34 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
C&B LARGE CAP VALUE PORTFOLIO
| | | | | | | | | | | | | | |
| Security name | | | | | | | Shares | | | Value | |
| | | | | | | | | | | | | | |
| | | | |
Information Technology: 12.18% | | | | | | | | | | | | | | |
| | | | |
| Electronic Equipment, Instruments & Components: 4.96% | | | | | | | | | | | | | | |
Flextronics International Limited † | | | | | | | | | 948,400 | | | $ | 5,491,236 | |
Molex Incorporated Class A | | | | | | | | | 206,000 | | | | 4,472,260 | |
TE Connectivity Limited | | | | | | | | | 166,700 | | | | 5,866,173 | |
| | | | |
| | | | | | | | | | | | | 15,829,669 | |
| | | | | | | | | | | | | | |
| | | | |
| IT Services: 3.98% | | | | | | | | | | | | | | |
Fiserv Incorporated † | | | | | | | | | 84,600 | | | | 6,513,354 | |
Western Union Company | | | | | | | | | 489,600 | | | | 6,173,856 | |
| | | | |
| | | | | | | | | | | | | 12,687,210 | |
| | | | | | | | | | | | | | |
| | | | |
| Semiconductors & Semiconductor Equipment: 2.33% | | | | | | | | | | | | | | |
Lam Research Corporation † | | | | | | | | | 211,900 | | | | 7,441,928 | |
| | | | | | | | | | | | | | |
| | | | |
| Software: 0.91% | | | | | | | | | | | | | | |
Microsoft Corporation | | | | | | | | | 108,400 | | | | 2,885,608 | |
| | | | | | | | | | | | | | |
| | | | |
Materials: 3.84% | | | | | | | | | | | | | | |
| | | | |
| Containers & Packaging: 3.84% | | | | | | | | | | | | | | |
Ball Corporation « | | | | | | | | | 161,000 | | | | 7,195,090 | |
Rock-Tenn Company Class A | | | | | | | | | 77,700 | | | | 5,053,609 | |
| | | | |
| | | | | | | | | | | | | 12,248,699 | |
| | | | | | | | | | | | | | |
| | | | |
Telecommunication Services: 2.38% | | | | | | | | | | | | | | |
| | | | |
| Wireless Telecommunication Services: 2.38% | | | | | | | | | | | | | | |
Vodafone Group plc ADR | | | | | | | | | 294,200 | | | | 7,590,360 | |
| | | | | | | | | | | | | | |
| | | | |
Utilities: 1.61% | | | | | | | | | | | | | | |
| | | | |
| Electric Utilities: 1.61% | | | | | | | | | | | | | | |
Entergy Corporation | | | | | | | | | 80,600 | | | | 5,121,324 | |
| | | | | | | | | | | | | | |
| | | | |
Total Common Stocks (Cost $265,963,259) | | | | | | | | | | | | | 309,827,934 | |
| | | | | | | | | | | | | | |
| | | | |
| | | | | Dividend Yield | | | | | | | |
| | | | |
Preferred Stocks: 1.24% | | | | | | | | | | | | | | |
| | | | |
Consumer Staples: 1.24% | | | | | | | | | | | | | | |
| | | | |
| Household Products: 1.24% | | | | | | | | | | | | | | |
Henkel AG & Company KGaA ADR | | | | | 1.25 | % | | | 47,200 | | | | 3,944,178 | |
| | | | | | | | | | | | | | |
| | | | |
Total Preferred Stocks (Cost $1,744,375) | | | | | | | | | | | | | 3,944,178 | |
| | | | | | | | | | | | | | |
| | | | |
| | | | | | | | Principal | | | | |
| | | | |
Other: 0.15% | | | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (a)(i)(v) | | | | | | | | $ | 1,421,993 | | | | 469,258 | |
| | | | | | | | | | | | | | |
| | | | |
Total Other (Cost $134,731) | | | | | | | | | | | | | 469,258 | |
| | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 35 | |
C&B LARGE CAP VALUE PORTFOLIO
| | | | | | | | | | | | | | |
| Security name | | | | Yield | | | Shares | | | Value | |
| | | | | | | | | | | | | | |
| | | | |
Short-Term Investments: 17.65% | | | | | | | | | | | | | | |
| | | | |
| Investment Companies: 17.65% | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund, Select Class (l)(u) | | | | | 0.16 | % | | | 1,807,073 | | | $ | 1,807,073 | |
Wells Fargo Securities Lending Cash Investments, LLC (l)(u)(v)(r) | | | | | 0.21 | | | | 54,471,494 | | | | 54,471,494 | |
| | | | |
Total Short-Term Investments (Cost $56,278,567) | | | | | | | | | | | | | 56,278,567 | |
| | | | | | | | | | | | | | |
| | | | | | | | |
| Total investments in securities | | | | | | | | |
| (Cost $324,120,932) * | | | 116.21 | % | | | 370,519,937 | |
Other assets and liabilities, net | | | (16.21 | ) | | | (51,673,599 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 318,846,338 | |
| | | | | | | | |
| « | All or a portion of this security is on loan. |
| † | Non-income-earning security |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| (l) | Investment in an affiliate |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| * | Cost for federal income tax purposes is $335,714,171 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 48,127,854 | |
Gross unrealized depreciation | | | (13,322,088 | ) |
| | | | |
Net unrealized appreciation | | $ | 34,805,766 | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 36 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
DIVERSIFIED LARGE CAP GROWTH PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Common Stocks: 98.79% | | | | | | | | | | | | |
| | | | |
Consumer Discretionary: 21.27% | | | | | | | | | | | | |
| | | | |
| Auto Components: 0.10% | | | | | | | | | | | | |
BorgWarner Incorporated † | | | | | | | 2,200 | | | $ | 145,860 | |
| | | | | | | | | | | | |
| | | | |
| Distributors: 0.16% | | | | | | | | | | | | |
LKQ Corporation † | | | | | | | 11,100 | | | | 243,312 | |
| | | | | | | | | | | | |
| | | | |
| Hotels, Restaurants & Leisure: 4.08% | | | | | | | | | | | | |
Chipotle Mexican Grill Incorporated Ǡ | | | | | | | 4,350 | | | | 1,147,443 | |
Marriott International Incorporated Class A « | | | | | | | 18,400 | | | | 667,736 | |
McDonald’s Corporation | | | | | | | 12,690 | | | | 1,104,538 | |
Starbucks Corporation | | | | | | | 54,751 | | | | 2,839,934 | |
Wynn Resorts Limited | | | | | | | 2,800 | | | | 314,720 | |
| | | | |
| | | | | | | | | | | 6,074,371 | |
| | | | | | | | | | | | |
| | | | |
| Internet & Catalog Retail: 3.31% | | | | | | | | | | | | |
Amazon.com Incorporated Ǡ | | | | | | | 10,760 | | | | 2,712,058 | |
priceline.com Incorporated † | | | | | | | 3,345 | | | | 2,218,270 | |
| | | | |
| | | | | | | | | | | 4,930,328 | |
| | | | | | | | | | | | |
| | | | |
| Media: 1.33% | | | | | | | | | | | | |
CBS Corporation Class B | | | | | | | 24,330 | | | | 875,393 | |
Liberty Media Corporation Ǡ | | | | | | | 10,106 | | | | 1,111,559 | |
| | | | |
| | | | | | | | | | | 1,986,952 | |
| | | | | | | | | | | | |
| | | | |
| Multiline Retail: 3.95% | | | | | | | | | | | | |
Dollar General Corporation † | | | | | | | 49,121 | | | | 2,456,050 | |
Dollar Tree Incorporated † | | | | | | | 57,180 | | | | 2,386,693 | |
Nordstrom Incorporated | | | | | | | 19,300 | | | | 1,043,937 | |
| | | | |
| | | | | | | | | | | 5,886,680 | |
| | | | | | | | | | | | |
| | | | |
| Specialty Retail: 6.08% | | | | | | | | | | | | |
CarMax Incorporated Ǡ | | | | | | | 36,170 | | | | 1,311,524 | |
Dick’s Sporting Goods Incorporated « | | | | | | | 21,715 | | | | 1,140,255 | |
GNC Holdings Incorporated Class A | | | | | | | 20,500 | | | | 720,165 | |
Home Depot Incorporated | | | | | | | 13,810 | | | | 898,617 | |
Limited Brands Incorporated | | | | | | | 30,150 | | | | 1,572,323 | |
O’Reilly Automotive Incorporated † | | | | | | | 4,600 | | | | 432,768 | |
Ross Stores Incorporated | | | | | | | 8,900 | | | | 506,588 | |
TJX Companies Incorporated | | | | | | | 29,250 | | | | 1,296,945 | |
Tractor Supply Company « | | | | | | | 9,700 | | | | 869,314 | |
Ulta Salon Cosmetics & Fragrance Incorporated | | | | | | | 3,000 | | | | 300,840 | |
| | | | |
| | | | | | | | | | | 9,049,339 | |
| | | | | | | | | | | | |
| | | | |
| Textiles, Apparel & Luxury Goods: 2.26% | | | | | | | | | | | | |
lululemon athletica incorporated Ǡ | | | | | | | 23,330 | | | | 1,674,627 | |
Michael Kors Holdings Limited † | | | | | | | 10,305 | | | | 547,711 | |
Nike Incorporated Class B | | | | | | | 6,900 | | | | 672,612 | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 37 | |
DIVERSIFIED LARGE CAP GROWTH PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Textiles, Apparel & Luxury Goods (continued) | | | | | | | | | | | | |
Under Armour Incorporated Class A Ǡ | | | | | | | 1,900 | | | $ | 98,477 | |
VF Corporation « | | | | | | | 2,300 | | | | 369,173 | |
| | | | |
| | | | | | | | | | | 3,362,600 | |
| | | | | | | | | | | | |
| | | | |
Consumer Staples: 6.57% | | | | | | | | | | | | |
| | | | |
| Beverages: 1.83% | | | | | | | | | | | | |
Anheuser-Busch Companies Incorporated ADR | | | | | | | 12,450 | | | | 1,095,227 | |
Monster Beverage Corporation † | | | | | | | 12,000 | | | | 624,600 | |
The Coca-Cola Company | | | | | | | 26,500 | | | | 1,004,880 | |
| | | | |
| | | | | | | | | | | 2,724,707 | |
| | | | | | | | | | | | |
| | | | |
| Food & Staples Retailing: 3.64% | | | | | | | | | | | | |
Costco Wholesale Corporation | | | | | | | 12,900 | | | | 1,341,471 | |
Walgreen Company « | | | | | | | 13,100 | | | | 444,221 | |
Whole Foods Market Incorporated | | | | | | | 38,930 | | | | 3,634,505 | |
| | | | |
| | | | | | | | | | | 5,420,197 | |
| | | | | | | | | | | | |
| | | | |
| Food Products: 0.79% | | | | | | | | | | | | |
Mead Johnson Nutrition Company | | | | | | | 4,400 | | | | 300,036 | |
The Hershey Company | | | | | | | 12,000 | | | | 879,240 | |
| | | | |
| | | | | | | | | | | 1,179,276 | |
| | | | | | | | | | | | |
| | | | |
| Personal Products: 0.31% | | | | | | | | | | | | |
Estee Lauder Companies Incorporated Class A | | | | | | | 7,900 | | | | 460,175 | |
| | | | | | | | | | | | |
| | | | |
Energy: 5.36% | | | | | | | | | | | | |
| | | | |
| Energy Equipment & Services: 1.46% | | | | | | | | | | | | |
National Oilwell Varco Incorporated | | | | | | | 13,735 | | | | 938,101 | |
Schlumberger Limited | | | | | | | 17,376 | | | | 1,244,469 | |
| | | | |
| | | | | | | | | | | 2,182,570 | |
| | | | | | | | | | | | |
| | | | |
| Oil, Gas & Consumable Fuels: 3.90% | | | | | | | | | | | | |
Concho Resources Incorporated † | | | | | | | 17,760 | | | | 1,425,418 | |
Continental Resources Incorporated Ǡ | | | | | | | 5,060 | | | | 347,622 | |
Energy XXI (Bermuda) Limited « | | | | | | | 9,800 | | | | 310,464 | |
Pioneer Natural Resources Company | | | | | | | 27,320 | | | | 2,923,240 | |
The Williams Companies Incorporated | | | | | | | 24,290 | | | | 797,684 | |
| | | | |
| | | | | | | | | | | 5,804,428 | |
| | | | | | | | | | | | |
| | | | |
Financials: 3.10% | | | | | | | | | | | | |
| | | | |
| Capital Markets: 1.51% | | | | | | | | | | | | |
Ameriprise Financial Incorporated | | | | | | | 22,630 | | | | 1,372,962 | |
TD Ameritrade Holding Corporation | | | | | | | 54,480 | | | | 882,576 | |
| | | | |
| | | | | | | | | | | 2,255,538 | |
| | | | | | | | | | | | |
| | | | |
| Consumer Finance: 1.59% | | | | | | | | | | | | |
American Express Company | | | | | | | 26,634 | | | | 1,488,841 | |
Capital One Financial Corporation | | | | | | | 12,620 | | | | 726,912 | |
Discover Financial Services | | | | | | | 3,700 | | | | 153,957 | |
| | | | |
| | | | | | | | | | | 2,369,710 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 38 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
DIVERSIFIED LARGE CAP GROWTH PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Health Care: 13.66% | | | | | | | | | | | | |
| | | | |
| Biotechnology: 5.20% | | | | | | | | | | | | |
Alexion Pharmaceuticals Incorporated † | | | | | | | 36,905 | | | $ | 3,543,618 | |
Biogen Idec Incorporated † | | | | | | | 6,000 | | | | 894,540 | |
BioMarin Pharmaceutical Incorporated † | | | | | | | 2,700 | | | | 131,220 | |
Celgene Corporation † | | | | | | | 10,700 | | | | 840,913 | |
Gilead Sciences Incorporated Ǡ | | | | | | | 28,180 | | | | 2,113,500 | |
Onyx Pharmaceuticals Incorporated Ǡ | | | | | | | 2,900 | | | | 218,863 | |
| | | | |
| | | | | | | | | | | 7,742,654 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Equipment & Supplies: 2.17% | | | | | | | | | | | | |
Covidien plc | | | | | | | 12,900 | | | | 749,619 | |
Intuitive Surgical Incorporated Ǡ | | | | | | | 4,690 | | | | 2,481,010 | |
| | | | |
| | | | | | | | | | | 3,230,629 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Providers & Services: 1.92% | | | | | | | | | | | | |
AmerisourceBergen Corporation « | | | | | | | 21,403 | | | | 903,635 | |
Catamaran Corporation † | | | | | | | 19,400 | | | | 944,586 | |
Express Scripts Holding Corporation † | | | | | | | 3,200 | | | | 172,320 | |
UnitedHealth Group Incorporated | | | | | | | 15,600 | | | | 848,484 | |
| | | | |
| | | | | | | | | | | 2,869,025 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Technology: 1.22% | | | | | | | | | | | | |
Cerner Corporation Ǡ | | | | | | | 23,500 | | | | 1,814,670 | |
| | | | | | | | | | | | |
| | | | |
| Life Sciences Tools & Services: 0.44% | | | | | | | | | | | | |
Mettler-Toledo International Incorporated Ǡ | | | | | | | 3,480 | | | | 651,073 | |
| | | | | | | | | | | | |
| | | | |
| Pharmaceuticals: 2.71% | | | | | | | | | | | | |
Abbott Laboratories | | | | | | | 17,500 | | | | 1,137,500 | |
Allergan Incorporated | | | | | | | 17,140 | | | | 1,589,735 | |
Shire plc ADR | | | | | | | 13,570 | | | | 1,175,569 | |
Watson Pharmaceuticals Incorporated † | | | | | | | 1,500 | | | | 132,015 | |
| | | | |
| | | | | | | | | | | 4,034,819 | |
| | | | | | | | | | | | |
| | | | |
Industrials: 9.85% | | | | | | | | | | | | |
| | | | |
| Aerospace & Defense: 2.44% | | | | | | | | | | | | |
Precision Castparts Corporation | | | | | | | 13,037 | | | | 2,390,855 | |
United Technologies Corporation | | | | | | | 15,480 | | | | 1,240,103 | |
| | | | |
| | | | | | | | | | | 3,630,958 | |
| | | | | | | | | | | | |
| | | | |
| Air Freight & Logistics: 0.19% | | | | | | | | | | | | |
United Parcel Service Incorporated Class B | | | | | | | 3,900 | | | | 285,129 | |
| | | | | | | | | | | | |
| | | | |
| Industrial Conglomerates: 1.54% | | | | | | | | | | | | |
Danaher Corporation | | | | | | | 42,630 | | | | 2,300,741 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 39 | |
DIVERSIFIED LARGE CAP GROWTH PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Machinery: 1.09% | | | | | | | | | | | | |
Cummins Incorporated « | | | | | | | 9,249 | | | $ | 907,882 | |
Flowserve Corporation | | | | | | | 1,600 | | | | 221,680 | |
Joy Global Incorporated « | | | | | | | 8,719 | | | | 496,896 | |
| | | | |
| | | | | | | | | | | 1,626,458 | |
| | | | | | | | | | | | |
| | | | |
| Road & Rail: 3.99% | | | | | | | | | | | | |
Hertz Global Holdings Incorporated Ǡ | | | | | | | 64,660 | | | | 1,011,282 | |
Kansas City Southern Railway Company « | | | | | | | 17,880 | | | | 1,397,322 | |
Norfolk Southern Corporation | | | | | | | 5,300 | | | | 320,014 | |
Union Pacific Corporation | | | | | | | 26,149 | | | | 3,210,574 | |
| | | | |
| | | | | | | | | | | 5,939,192 | |
| | | | | | | | | | | | |
| | | | |
| Trading Companies & Distributors: 0.60% | | | | | | | | | | | | |
W.W. Grainger Incorporated | | | | | | | 4,600 | | | | 892,492 | |
| | | | | | | | | | | | |
| | | | |
Information Technology: 33.96% | | | | | | | | | | | | |
| | | | |
| Communications Equipment: 2.79% | | | | | | | | | | | | |
Cisco Systems Incorporated | | | | | | | 25,700 | | | | 485,987 | |
Palo Alto Networks Incorporated Ǡ | | | | | | | 2,433 | | | | 132,404 | |
QUALCOMM Incorporated | | | | | | | 55,700 | | | | 3,543,634 | |
| | | | |
| | | | | | | | | | | 4,162,025 | |
| | | | | | | | | | | | |
| | | | |
| Computers & Peripherals: 8.92% | | | | | | | | | | | | |
Apple Incorporated | | | | | | | 20,291 | | | | 11,875,916 | |
EMC Corporation † | | | | | | | 56,632 | | | | 1,405,606 | |
| | | | |
| | | | | | | | | | | 13,281,522 | |
| | | | | | | | | | | | |
| | | | |
| Internet Software & Services: 9.42% | | | | | | | | | | | | |
Akamai Technologies Incorporated † | | | | | | | 1,400 | | | | 51,268 | |
Baidu.com Incorporated ADR Ǡ | | | | | | | 4,171 | | | | 401,709 | |
eBay Incorporated † | | | | | | | 104,480 | | | | 5,518,634 | |
Facebook Incorporated † | | | | | | | 2,600 | | | | 72,800 | |
Google Incorporated Class A † | | | | | | | 7,594 | | | | 5,303,422 | |
LinkedIn Corporation † | | | | | | | 6,730 | | | | 727,782 | |
Mercadolibre Incorporated « | | | | | | | 5,300 | | | | 381,335 | |
Rackspace Hosting Incorporated Ǡ | | | | | | | 22,840 | | | | 1,578,701 | |
| | | | |
| | | | | | | | | | | 14,035,651 | |
| | | | | | | | | | | | |
| | | | |
| IT Services: 6.62% | | | | | | | | | | | | |
Accenture plc « | | | | | | | 8,600 | | | | 584,112 | |
Alliance Data Systems Corporation Ǡ | | | | | | | 5,600 | | | | 797,944 | |
Cognizant Technology Solutions Corporation Class A † | | | | | | | 42,750 | | | | 2,874,083 | |
MasterCard Incorporated Class A | | | | | | | 4,510 | | | | 2,203,947 | |
Teradata Corporation † | | | | | | | 7,400 | | | | 440,152 | |
Visa Incorporated Class A « | | | | | | | 19,770 | | | | 2,959,767 | |
| | | | |
| | | | | | | | | | | 9,860,005 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 40 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
DIVERSIFIED LARGE CAP GROWTH PORTFOLIO
| | | | | | | | | | | | | | |
| Security name | | | | | | | Shares | | | Value | |
| | | | | | | | | | | | | | |
| | | | |
| Semiconductors & Semiconductor Equipment: 2.25% | | | | | | | | | | | | | | |
Avago Technologies Limited | | | | | | | | | 11,500 | | | $ | 403,650 | |
Broadcom Corporation Class A | | | | | | | | | 24,796 | | | | 802,894 | |
Linear Technology Corporation | | | | | | | | | 5,600 | | | | 185,864 | |
Maxim Integrated Products Incorporated | | | | | | | | | 20,740 | | | | 605,401 | |
Microchip Technology Incorporated « | | | | | | | | | 44,440 | | | | 1,351,865 | |
| | | | |
| | | | | | | | | | | | | 3,349,674 | |
| | | | | | | | | | | | | | |
| | | | |
| Software: 3.96% | | | | | | | | | | | | | | |
Citrix Systems Incorporated † | | | | | | | | | 15,010 | | | | 918,012 | |
Fortinet Incorporated † | | | | | | | | | 28,100 | | | | 561,438 | |
Red Hat Incorporated † | | | | | | | | | 21,311 | | | | 1,052,763 | |
Salesforce.com Incorporated Ǡ | | | | | | | | | 11,281 | | | | 1,778,675 | |
VMware Incorporated Ǡ | | | | | | | | | 17,500 | | | | 1,591,625 | |
| | | | |
| | | | | | | | | | | | | 5,902,513 | |
| | | | | | | | | | | | | | |
| | | | |
Materials: 3.99% | | | | | | | | | | | | | | |
| | | | |
| Chemicals: 3.99% | | | | | | | | | | | | | | |
Airgas Incorporated | | | | | | | | | 3,200 | | | | 283,424 | |
Ecolab Incorporated | | | | | | | | | 10,600 | | | | 764,048 | |
Monsanto Company | | | | | | | | | 32,310 | | | | 2,959,270 | |
Praxair Incorporated | | | | | | | | | 18,050 | | | | 1,935,141 | |
| | | | |
| | | | | | | | | | | | | 5,941,883 | |
| | | | | | | | | | | | | | |
| | | | |
Telecommunication Services: 1.03% | | | | | | | | | | | | | | |
| | | | |
| Wireless Telecommunication Services: 1.03% | | | | | | | | | | | | | | |
Crown Castle International Corporation † | | | | | | | | | 22,660 | | | | 1,530,003 | |
| | | | | | | | | | | | | | |
| | | | |
Total Common Stocks (Cost $125,151,792) | | | | | | | | | | | | | 147,157,159 | |
| | | | | | | | | | | | | | |
| | | | |
| | | | | | | | Principal | | | | |
| | | | |
Other: 0.31% | | | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (a)(i)(v) | | | | | | | | $ | 1,413,568 | | | | 466,478 | |
| | | | | | | | | | | | | | |
| | | | |
Total Other (Cost $133,933) | | | | | | | | | | | | | 466,478 | |
| | | | | | | | | | | | | | |
| | | | |
| | | | | Yield | | | Shares | | | | |
| Short-Term Investments: 21.55% | | | | | | | | | | | | | | |
| Investment Companies: 21.55% | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund, Select Class (u)(l) | | | | | 0.16 | % | | | 1,362,764 | | | | 1,362,764 | |
Wells Fargo Securities Lending Cash Investments, LLC (v)(l)(u)(r) | | | | | 0.21 | | | | 30,742,017 | | | | 30,742,017 | |
| | | | |
Total Short-Term Investments (Cost $32,104,781) | | | | | | | | | | | | | 32,104,781 | |
| | | | | | | | | | | | | | |
| | | | | | | | |
| Total investments in securities | | | | | | | | |
| (Cost $157,390,506) * | | | 120.65 | % | | | 179,728,418 | |
Other assets and liabilities, net | | | (20.65 | ) | | | (30,765,249 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 148,963,169 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 41 | |
DIVERSIFIED LARGE CAP GROWTH PORTFOLIO
| † | Non-income-earning security |
| « | All or a portion of this security is on loan. |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| (l) | Investment in an affiliate |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| * | Cost for federal income tax purposes is $159,804,843 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 22,172,146 | |
Gross unrealized depreciation | | | (2,248,571 | ) |
| | | | |
Net unrealized appreciation | | $ | 19,923,575 | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 42 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
EMERGING GROWTH PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Common Stocks: 98.15% | | | | | | | | | | | | |
| | | | |
Consumer Discretionary: 14.75% | | | | | | | | | | | | |
| | | | |
| Hotels, Restaurants & Leisure: 4.12% | | | | | | | | | | | | |
Ignite Restaurant Group Incorporated † | | | | | | | 335,164 | | | $ | 4,256,583 | |
Life Time Fitness Incorporated Ǡ | | | | | | | 531,670 | | | | 25,020,390 | |
SHFL entertainment Incorporated Ǡ | | | | | | | 645,017 | | | | 8,875,434 | |
| | | | |
| | | | | | | | | | | 38,152,407 | |
| | | | | | | | | | | | |
| | | | |
| Household Durables: 0.58% | | | | | | | | | | | | |
SodaStream International Limited Ǡ | | | | | | | 133,900 | | | | 5,339,932 | |
| | | | | | | | | | | | |
| | | | |
| Internet & Catalog Retail : 2.94% | | | | | | | | | | | | |
HomeAway Incorporated Ǡ | | | | | | | 571,345 | | | | 11,701,146 | |
Shutterfly Incorporated Ǡ | | | | | | | 574,685 | | | | 15,487,761 | |
| | | | |
| | | | | | | | | | | 27,188,907 | |
| | | | | | | | | | | | |
| | | | |
| Media: 1.72% | | | | | | | | | | | | |
IMAX Corporation Ǡ | | | | | | | 736,710 | | | | 15,949,772 | |
| | | | | | | | | | | | |
| | | | |
| Specialty Retail: 5.39% | | | | | | | | | | | | |
Asbury Automotive Group Incorporated † | | | | | | | 324,700 | | | | 9,802,693 | |
DSW Incorporated Class A « | | | | | | | 267,800 | | | | 18,218,434 | |
Hibbett Sports Incorporated Ǡ | | | | | | | 70,050 | | | | 3,764,487 | |
Vitamin Shoppe Incorporated Ǡ | | | | | | | 304,280 | | | | 18,031,633 | |
| | | | |
| | | | | | | | | | | 49,817,247 | |
| | | | | | | | | | | | |
| | | | |
Consumer Staples: 2.36% | | | | | | | | | | | | |
| | | | |
| Food & Staples Retailing: 2.36% | | | | | | | | | | | | |
The Fresh Market Incorporated Ǡ | | | | | | | 316,970 | | | | 16,428,555 | |
United Natural Foods Incorporated † | | | | | | | 104,100 | | | | 5,389,257 | |
| | | | |
| | | | | | | | | | | 21,817,812 | |
| | | | | | | | | | | | |
| | | | |
Energy: 6.17% | | | | | | | | | | | | |
| | | | |
| Energy Equipment & Services: 0.63% | | | | | | | | | | | | |
Forum Energy Technologies Incorporated Ǡ | | | | | | | 229,727 | | | | 5,798,309 | |
| | | | | | | | | | | | |
| | | | |
| Oil, Gas & Consumable Fuels: 5.54% | | | | | | | | | | | | |
Approach Resources Incorporated † | | | | | | | 689,070 | | | | 16,186,254 | |
Carrizo Oil & Gas Incorporated Ǡ | | | | | | | 163,445 | | | | 3,391,484 | |
Diamondback Energy Incorporated† | | | | | | | 233,357 | | | | 4,200,426 | |
Kodiak Oil & Gas Corporation Ǡ | | | | | | | 806,700 | | | | 6,921,486 | |
Laredo Petroleum Holdings Incorporated Ǡ | | | | | | | 498,531 | | | | 9,482,060 | |
Oasis Petroleum Incorporated Ǡ | | | | | | | 368,100 | | | | 11,123,982 | |
| | | | |
| | | | | | | | | | | 51,305,692 | |
| | | | | | | | | | | | |
| | | | |
Financials: 3.25% | | | | | | | | | | | | |
| | | | |
| Capital Markets: 2.79% | | | | | | | | | | | | |
Financial Engines Incorporated Ǡ | | | | | | | 985,130 | | | | 25,830,109 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 43 | |
EMERGING GROWTH PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Insurance: 0.46% | | | | | | | | | | | | |
eHealth Incorporated † | | | | | | | 166,000 | | | $ | 4,282,800 | |
| | | | | | | | | | | | |
| | | | |
Health Care: 19.99% | | | | | | | | | | | | |
| | | | |
| Biotechnology: 1.46% | | | | | | | | | | | | |
Cepheid Incorporated Ǡ | | | | | | | 154,100 | | | | 4,995,922 | |
Exact Sciences Corporation † | | | | | | | 265,420 | | | | 2,603,770 | |
Genomic Health Incorporated Ǡ | | | | | | | 100,800 | | | | 2,788,128 | |
Infinity Pharmaceuticals Incorporated Ǡ | | | | | | | 99,200 | | | | 2,514,720 | |
Raptor Pharmaceutical Corporation† | | | | | | | 105,200 | | | | 556,508 | |
| | | | |
| | | | | | | | | | | 13,459,048 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Equipment & Supplies: 11.66% | | | | | | | | | | | | |
Abiomed Incorporated Ǡ | | | | | | | 230,600 | | | | 3,078,510 | |
Align Technology Incorporated Ǡ | | | | | | | 666,200 | | | | 18,247,218 | |
Cynosure Incorporated Class A † | | | | | | | 351,178 | | | | 7,908,529 | |
DexCom Incorporated Ǡ | | | | | | | 516,770 | | | | 6,759,352 | |
Endologix Incorporated † | | | | | | | 1,883,094 | | | | 27,606,158 | |
HeartWare International Incorporated Ǡ | | | | | | | 74,700 | | | | 6,148,557 | |
Masimo Corporation « | | | | | | | 423,450 | | | | 8,773,884 | |
Novadaq Technologies Incorporated † | | | | | | | 531,900 | | | | 4,701,996 | |
NxStage Medical Incorporated † | | | | | | | 1,145,560 | | | | 13,769,631 | |
Volcano Corporation Ǡ | | | | | | | 399,530 | | | | 10,891,188 | |
| | | | |
| | | | | | | | | | | 107,885,023 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Providers & Services: 1.00% | | | | | | | | | | | | |
MWI Veterinary Supply Incorporated † | | | | | | | 82,800 | | | | 9,243,792 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Technology: 0.55% | | | | | | | | | | | | |
Healthstream Incorporated † | | | | | | | 215,400 | | | | 5,109,288 | |
| | | | | | | | | | | | |
| | | | |
| Pharmaceuticals: 5.32% | | | | | | | | | | | | |
Akorn Incorporated Ǡ | | | | | | | 1,903,535 | | | | 25,678,687 | |
Impax Laboratories Incorporated † | | | | | | | 359,240 | | | | 7,306,942 | |
Jazz Pharmaceuticals plc Ǡ | | | | | | | 301,480 | | | | 16,243,742 | |
| | | | |
| | | | | | | | | | | 49,229,371 | |
| | | | | | | | | | | | |
| | | | |
Industrials: 16.37% | | | | | | | | | | | | |
| | | | |
| Commercial Services & Supplies: 1.61% | | | | | | | | | | | | |
InnerWorkings Incorporated Ǡ | | | | | | | 1,141,673 | | | | 14,853,166 | |
| | | | | | | | | | | | |
| | | | |
| Electrical Equipment: 0.85% | | | | | | | | | | | | |
Thermon Group Holdings Incorporated † | | | | | | | 319,147 | | | | 7,892,505 | |
| | | | | | | | | | | | |
| | | | |
| Machinery: 3.12% | | | | | | | | | | | | |
Chart Industries Incorporated Ǡ | | | | | | | 176,185 | | | | 10,655,669 | |
Proto Labs Incorporated † | | | | | | | 134,155 | | | | 4,893,974 | |
The Middleby Corporation Ǡ | | | | | | | 104,850 | | | | 13,356,842 | |
| | | | |
| | | | | | | | | | | 28,906,485 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 44 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
EMERGING GROWTH PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Professional Services: 5.27% | | | | | | | | | | | | |
Advisory Board Company Ǡ | | | | | | | 316,900 | | | $ | 14,339,725 | |
Corporate Executive Board Company | | | | | | | 191,000 | | | | 8,174,800 | |
Mistras Group Incorporated † | | | | | | | 349,498 | | | | 7,580,612 | |
On Assignment Incorporated Ǡ | | | | | | | 934,013 | | | | 18,614,879 | |
| | | | |
| | | | | | | | | | | 48,710,016 | |
| | | | | | | | | | | | |
| | | | |
| Road & Rail: 2.95% | | | | | | | | | | | | |
Genesee & Wyoming Incorporated Ǡ | | | | | | | 374,110 | | | | 27,291,325 | |
| | | | | | | | | | | | |
| | | | |
| Trading Companies & Distributors: 2.57% | | | | | | | | | | | | |
DXP Enterprises Incorporated † | | | | | | | 359,016 | | | | 17,336,883 | |
Titan Machinery Incorporated Ǡ | | | | | | | 292,772 | | | | 6,481,972 | |
| | | | |
| | | | | | | | | | | 23,818,855 | |
| | | | | | | | | | | | |
| | | | |
Information Technology: 35.25% | | | | | | | | | | | | |
| | | | |
| Communications Equipment: 2.90% | | | | | | | | | | | | |
Aruba Networks Incorporated Ǡ | | | | | | | 115,530 | | | | 2,250,524 | |
Ixia † | | | | | | | 1,087,441 | | | | 16,333,364 | |
Procera Networks Incorporated Ǡ | | | | | | | 399,301 | | | | 8,245,566 | |
| | | | |
| | | | | | | | | | | 26,829,454 | |
| | | | | | | | | | | | |
| | | | |
| Computers & Peripherals: 0.47% | | | | | | | | | | | | |
Stratasys Incorporated Ǡ | | | | | | | 58,500 | | | | 4,384,575 | |
| | | | | | | | | | | | |
| | | | |
| Electronic Equipment, Instruments & Components: 1.70% | | | | | | | | | | | | |
OSI Systems Incorporated † | | | | | | | 256,000 | | | | 15,687,680 | |
| | | | | | | | | | | | |
| | | | |
| Internet Software & Services: 9.12% | | | | | | | | | | | | |
Brightcove Incorporated † | | | | | | | 1,067,315 | | | | 10,374,302 | |
Envestnet Incorporated † | | | | | | | 1,018,430 | | | | 14,156,177 | |
Liquidity Services Incorporated Ǡ | | | | | | | 314,500 | | | | 12,913,370 | |
LivePerson Incorporated † | | | | | | | 201,604 | | | | 2,659,157 | |
Mercadolibre Incorporated « | | | | | | | 163,930 | | | | 11,794,764 | |
OpenTable Incorporated Ǡ | | | | | | | 178,000 | | | | 7,990,420 | |
SciQuest Incorporated † | | | | | | | 923,018 | | | | 15,035,963 | |
SPS Commerce Incorporated † | | | | | | | 257,100 | | | | 9,476,706 | |
| | | | |
| | | | | | | | | | | 84,400,859 | |
| | | | | | | | | | | | |
| | | | |
| IT Services: 4.61% | | | | | | | | | | | | |
Gartner Incorporated † | | | | | | | 154,758 | | | | 7,409,813 | |
MarketAxess Holdings Incorporated « | | | | | | | 396,051 | | | | 12,222,134 | |
Maximus Incorporated | | | | | | | 110,200 | | | | 6,941,494 | |
ServiceSource International Incorporated Ǡ | | | | | | | 262,900 | | | | 1,348,677 | |
Wex Incorporated Ǡ | | | | | | | 205,221 | | | | 14,767,703 | |
| | | | |
| | | | | | | | | | | 42,689,821 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 45 | |
EMERGING GROWTH PORTFOLIO
| | | | | | | | | | | | | | |
| Security name | | | | | | | Shares | | | Value | |
| | | | | | | | | | | | | | |
| | | | |
| Semiconductors & Semiconductor Equipment: 1.62% | | | | | | | | | | | | | | |
Cavium Incorporated Ǡ | | | | | | | | | 160,790 | | | $ | 5,664,632 | |
Entegris Incorporated † | | | | | | | | | 1,043,540 | | | | 9,350,118 | |
| | | | |
| | | | | | | | | | | | | 15,014,750 | |
| | | | | | | | | | | | | | |
| | | | |
| Software: 14.83% | | | | | | | | | | | | | | |
Allot Communications Limited Ǡ | | | | | | | | | 450,043 | | | | 9,828,939 | |
Aspen Technology Incorporated † | | | | | | | | | 142,500 | | | | 3,703,575 | |
Broadsoft Incorporated Ǡ | | | | | | | | | 556,673 | | | | 17,607,567 | |
Fleetmatics Group plc « † | | | | | | | | | 382,540 | | | | 8,331,721 | |
Fortinet Incorporated † | | | | | | | | | 592,200 | | | | 11,832,156 | |
Guidewire Software Incorporated † | | | | | | | | | 252,200 | | | | 7,540,780 | |
Imperva Incorporated Ǡ | | | | | | | | | 275,791 | | | | 8,483,331 | |
Infoblox Incorporated † | | | | | | | | | 186,100 | | | | 3,528,456 | |
PROS Holdings Incorporated † | | | | | | | | | 425,522 | | | | 7,544,505 | |
Solarwinds Incorporated † | | | | | | | | | 371,964 | | | | 20,841,143 | |
Sourcefire Incorporated Ǡ | | | | | | | | | 307,700 | | | | 15,148,071 | |
Synchronoss Technologies Incorporated Ǡ | | | | | | | | | 603,601 | | | | 11,021,754 | |
Ultimate Software Group Incorporated † | | | | | | | | | 124,670 | | | | 11,782,562 | |
| | | | |
| | | | | | | | | | | | | 137,194,560 | |
| | | | | | | | | | | | | | |
| | | | |
Materials: 0.01% | | | | | | | | | | | | | | |
| | | | |
| Chemicals: 0.01% | | | | | | | | | | | | | | |
Landec Corporation † | | | | | | | | | 6,189 | | | | 61,959 | |
| | | | | | | | | | | | | | |
| | | | |
Total Common Stocks (Cost $839,109,014) | | | | | | | | | | | | | 908,145,519 | |
| | | | | | | | | | | | | | |
| | | | |
Investment Companies: 0.35% | | | | | | | | | | | | | | |
iShares Russell 2000 Growth Index Fund « | | | | | | | | | 35,000 | | | | 3,272,850 | |
| | | | | | | | | | | | | | |
| | | | |
Total Investment Companies (Cost $3,354,397) | | | | | | | | | | | | | 3,272,850 | |
| | | | | | | | | | | | | | |
| | | | |
| | | | | | | | Principal | | | | |
| | | | |
Other: 0.16% | | | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (a)(i)(v) | | | | | | | | $ | 4,359,499 | | | | 1,438,635 | |
| | | | | | | | | | | | | | |
| | | | |
Total Other (Cost $413,054) | | | | | | | | | | | | | 1,438,635 | |
| | | | | | | | | | | | | | |
| | | | |
| | | | | Yield | | | Shares | | | | |
| | | | |
Short-Term Investments: 32.65% | | | | | | | | | | | | | | |
| | | | |
| Investment Companies: 32.65% | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund, Select Class (l)(u) | | | | | 0.16 | % | | | 14,554,639 | | | | 14,554,639 | |
Wells Fargo Securities Lending Cash Investments, LLC (v)(r)(l)(u) | | | | | 0.21 | | | | 287,604,201 | | | | 287,604,201 | |
| | | | |
Total Short-Term Investments (Cost $302,158,840) | | | | | | | | | | | | | 302,158,840 | |
| | | | | | | | | | | | | | |
| | | | | | | | |
| Total investments in securities | | | | | | | | |
| (Cost $1,145,035,305) * | | | 131.31 | % | | | 1,215,015,844 | |
Other assets and liabilities, net | | | (31.31 | ) | | | (289,724,512 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 925,291,332 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 46 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
EMERGING GROWTH PORTFOLIO
| † | Non-income-earning security |
| « | All or a portion of this security is on loan. |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| (l) | Investment in an affiliate |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| * | Cost for federal income tax purposes is $1,148,971,009 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 117,856,874 | |
Gross unrealized depreciation | | | (51,812,039 | ) |
| | | | |
Net unrealized appreciation | | $ | 66,044,835 | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 47 | |
EQUITY VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Common Stocks: 98.74% | | | | | | | | | | | | |
| | | | |
Consumer Discretionary: 8.96% | | | | | | | | | | | | |
| | | | |
| Auto Components: 0.59% | | | | | | | | | | | | |
Delphi Automotive plc † | | | | | | | 152,300 | | | $ | 5,176,677 | |
| | | | | | | | | | | | |
| | | | |
| Household Durables: 0.62% | | | | | | | | | | | | |
Pulte Homes Incorporated † | | | | | | | 323,450 | | | | 5,437,195 | |
| | | | | | | | | | | | |
| | | | |
| Media: 1.32% | | | | | | | | | | | | |
Comcast Corporation Class A | | | | | | | 156,200 | | | | 5,807,516 | |
News Corporation Class A | | | | | | | 233,350 | | | | 5,749,744 | |
| | | | |
| | | | | | | | | | | 11,557,260 | |
| | | | | | | | | | | | |
| | | | |
| Multiline Retail: 2.00% | | | | | | | | | | | | |
Dollar General Corporation † | | | | | | | 163,650 | | | | 8,182,500 | |
Macy’s Incorporated | | | | | | | 240,800 | | | | 9,318,960 | |
| | | | |
| | | | | | | | | | | 17,501,460 | |
| | | | | | | | | | | | |
| | | | |
| Specialty Retail: 3.82% | | | | | | | | | | | | |
Bed Bath & Beyond Incorporated † | | | | | | | 105,300 | | | | 6,183,216 | |
Foot Locker Incorporated | | | | | | | 526,900 | | | | 18,884,089 | |
GNC Holdings Incorporated Class A | | | | | | | 236,050 | | | | 8,292,437 | |
| | | | |
| | | | | | | | | | | 33,359,742 | |
| | | | | | | | | | | | |
| | | | |
| Textiles, Apparel & Luxury Goods: 0.61% | | | | | | | | | | | | |
PVH Corporation | | | | | | | 46,650 | | | | 5,345,624 | |
| | | | | | | | | | | | |
| | | | |
Consumer Staples: 10.08% | | | | | | | | | | | | |
| | | | |
| Beverages: 1.51% | | | | | | | | | | | | |
Anheuser-Busch Companies Incorporated ADR « | | | | | | | 100,025 | | | | 8,799,199 | |
The Coca-Cola Company | | | | | | | 115,850 | | | | 4,393,032 | |
| | | | |
| | | | | | | | | | | 13,192,231 | |
| | | | | | | | | | | | |
| | | | |
| Food & Staples Retailing: 3.92% | | | | | | | | | | | | |
CVS Caremark Corporation | | | | | | | 406,300 | | | | 18,897,013 | |
Kroger Company | | | | | | | 166,750 | | | | 4,375,520 | |
Walgreen Company | | | | | | | 325,750 | | | | 11,046,183 | |
| | | | |
| | | | | | | | | | | 34,318,716 | |
| | | | | | | | | | | | |
| | | | |
| Food Products: 2.75% | | | | | | | | | | | | |
JM Smucker Company « | | | | | | | 79,850 | | | | 7,063,531 | |
Kraft Foods Group Incorporated † | | | | | | | 139,283 | | | | 6,298,377 | |
Mondelez International Incorporated Class A | | | | | | | 411,850 | | | | 10,662,797 | |
| | | | |
| | | | | | | | | | | 24,024,705 | |
| | | | | | | | | | | | |
| | | | |
| Household Products: 1.42% | | | | | | | | | | | | |
Procter & Gamble Company | | | | | | | 177,225 | | | | 12,375,622 | |
| | | | | | | | | | | | |
| | | | |
| Personal Products: 0.48% | | | | | | | | | | | | |
Herbalife Limited « | | | | | | | 91,800 | | | | 4,220,046 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 48 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
EQUITY VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Energy: 15.17% | | | | | | | | | | | | |
| | | | |
| Energy Equipment & Services: 2.16% | | | | | | | | | | | | |
Cameron International Corporation † | | | | | | | 130,500 | | | $ | 7,040,475 | |
National Oilwell Varco Incorporated | | | | | | | 105,300 | | | | 7,191,990 | |
Transocean Limited | | | | | | | 100,600 | | | | 4,647,720 | |
| | | | |
| | | | | | | | | | | 18,880,185 | |
| | | | | | | | | | | | |
| | | | |
| Oil, Gas & Consumable Fuels: 13.01% | | | | | | | | | | | | |
Anadarko Petroleum Corporation | | | | | | | 153,550 | | | | 11,238,325 | |
Apache Corporation « | | | | | | | 113,900 | | | | 8,780,551 | |
Chevron Corporation | | | | | | | 256,400 | | | | 27,098,916 | |
ConocoPhillips Company | | | | | | | 192,725 | | | | 10,973,762 | |
Devon Energy Corporation | | | | | | | 79,700 | | | | 4,118,099 | |
Exxon Mobil Corporation | | | | | | | 99,050 | | | | 8,730,267 | |
Hess Corporation | | | | | | | 178,350 | | | | 8,847,944 | |
HollyFrontier Corporation « | | | | | | | 147,125 | | | | 6,669,176 | |
Marathon Petroleum Corporation | | | | | | | 80,700 | | | | 4,804,878 | |
Peabody Energy Corporation | | | | | | | 280,300 | | | | 7,038,333 | |
Plains Exploration & Product Company †« | | | | | | | 194,150 | | | | 6,931,155 | |
Suncor Energy Incorporated « | | | | | | | 261,500 | | | | 8,527,515 | |
| | | | |
| | | | | | | | | | | 113,758,921 | |
| | | | | | | | | | | | |
| | | | |
Financials: 24.66% | | | | | | | | | | | | |
| | | | |
| Commercial Banks: 6.06% | | | | | | | | | | | | |
Fifth Third Bancorp | | | | | | | 928,500 | | | | 13,593,240 | |
KeyCorp | | | | | | | 461,100 | | | | 3,725,688 | |
PNC Financial Services Group Incorporated | | | | | | | 448,075 | | | | 25,154,931 | |
Regions Financial Corporation | | | | | | | 678,600 | | | | 4,526,262 | |
SunTrust Banks Incorporated | | | | | | | 220,300 | | | | 5,981,145 | |
| | | | |
| | | | | | | | | | | 52,981,266 | |
| | | | | | | | | | | | |
| | | | |
| Consumer Finance: 4.67% | | | | | | | | | | | | |
Capital One Financial Corporation | | | | | | | 243,600 | | | | 14,031,360 | |
Discover Financial Services | | | | | | | 644,400 | | | | 26,813,484 | |
| | | | |
| | | | | | | | | | | 40,844,844 | |
| | | | | | | | | | | | |
| | | | |
| Diversified Financial Services: 6.11% | | | | | | | | | | | | |
Bank of America Corporation | | | | | | | 1,380,000 | | | | 13,606,800 | |
Citigroup Incorporated | | | | | | | 428,100 | | | | 14,799,417 | |
JPMorgan Chase & Company | | | | | | | 608,800 | | | | 25,009,504 | |
| | | | |
| | | | | | | | | | | 53,415,721 | |
| | | | | | | | | | | | |
| | | | |
| Insurance: 7.08% | | | | | | | | | | | | |
AFLAC Incorporated « | | | | | | | 76,050 | | | | 4,029,890 | |
Allstate Corporation | | | | | | | 195,800 | | | | 7,925,984 | |
American International Group Incorporated † | | | | | | | 526,125 | | | | 17,430,521 | |
Fidelity National Title Group Incorporated | | | | | | | 184,150 | | | | 4,458,272 | |
Lincoln National Corporation | | | | | | | 394,150 | | | | 9,735,505 | |
MetLife Incorporated | | | | | | | 552,400 | | | | 18,334,156 | |
| | | | |
| | | | | | | | | | | 61,914,328 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 49 | |
EQUITY VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| REITs: 0.74% | | | | | | | | | | | | |
Digital Realty Trust Incorporated | | | | | | | 101,125 | | | $ | 6,526,608 | |
| | | | | | | | | | | | |
| | | | |
Health Care: 14.12% | | | | | | | | | | | | |
| | | | |
| Biotechnology: 2.20% | | | | | | | | | | | | |
Amgen Incorporated | | | | | | | 115,125 | | | | 10,223,100 | |
Celgene Corporation † | | | | | | | 56,950 | | | | 4,475,701 | |
Gilead Sciences Incorporated †« | | | | | | | 59,950 | | | | 4,496,250 | |
| | | | |
| | | | | | | | | | | 19,195,051 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Providers & Services: 2.06% | | | | | | | | | | | | |
Express Scripts Holding Corporation † | | | | | | | 70,500 | | | | 3,796,425 | |
UnitedHealth Group Incorporated | | | | | | | 261,800 | | | | 14,239,302 | |
| | | | |
| | | | | | | | | | | 18,035,727 | |
| | | | | | | | | | | | |
| | | | |
| Pharmaceuticals: 9.86% | | | | | | | | | | | | |
Abbott Laboratories | | | | | | | 189,725 | | | | 12,332,125 | |
AstraZeneca plc ADR « | | | | | | | 95,500 | | | | 4,540,070 | |
Bristol-Myers Squibb Company | | | | | | | 236,400 | | | | 7,713,732 | |
Eli Lilly & Company | | | | | | | 232,675 | | | | 11,410,382 | |
Johnson & Johnson Services Incorporated | | | | | | | 53,800 | | | | 3,751,474 | |
Merck & Company Incorporated | | | | | | | 383,200 | | | | 16,975,760 | |
Pfizer Incorporated | | | | | | | 1,180,400 | | | | 29,533,608 | |
| | | | |
| | | | | | | | | | | 86,257,151 | |
| | | | | | | | | | | | |
| | | | |
Industrials: 7.05% | | | | | | | | | | | | |
| | | | |
| Airlines: 0.39% | | | | | | | | | | | | |
Delta Air Lines Incorporated † | | | | | | | 337,000 | | | | 3,370,000 | |
| | | | | | | | | | | | |
| | | | |
| Industrial Conglomerates: 3.75% | | | | | | | | | | | | |
General Electric Company | | | | | | | 1,553,200 | | | | 32,819,116 | |
| | | | | | | | | | | | |
| | | | |
| Machinery: 1.84% | | | | | | | | | | | | |
Eaton Corporation « | | | | | | | 309,150 | | | | 16,125,264 | |
| | | | | | | | | | | | |
| | | | |
| Trading Companies & Distributors: 1.07% | | | | | | | | | | | | |
United Rentals Incorporated †« | | | | | | | 224,400 | | | | 9,319,332 | |
| | | | | | | | | | | | |
| | | | |
Information Technology: 8.17% | | | | | | | | | | | | |
| | | | |
| Communications Equipment: 2.70% | | | | | | | | | | | | |
Cisco Systems Incorporated | | | | | | | 997,000 | | | | 18,853,270 | |
QUALCOMM Incorporated | | | | | | | 75,100 | | | | 4,777,862 | |
| | | | |
| | | | | | | | | | | 23,631,132 | |
| | | | | | | | | | | | |
| | | | |
| Computers & Peripherals: 0.99% | | | | | | | | | | | | |
EMC Corporation † | | | | | | | 348,050 | | | | 8,638,601 | |
| | | | | | | | | | | | |
| | | | |
| Internet Software & Services: 0.50% | | | | | | | | | | | | |
Yahoo! Incorporated † | | | | | | | 234,600 | | | | 4,403,442 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 50 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
EQUITY VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Semiconductors & Semiconductor Equipment: 2.81% | | | | | | | | | | | | |
Broadcom Corporation Class A | | | | | | | 361,800 | | | $ | 11,715,084 | |
NXP Semiconductors †« | | | | | | | 154,000 | | | | 3,769,920 | |
Skyworks Solutions Incorporated † | | | | | | | 402,000 | | | | 9,105,300 | |
| | | | |
| | | | | | | | | | | 24,590,304 | |
| | | | | | | | | | | | |
| | | | |
| Software: 1.17% | | | | | | | | | | | | |
Adobe Systems Incorporated † | | | | | | | 154,650 | | | | 5,352,437 | |
Microsoft Corporation | | | | | | | 183,500 | | | | 4,884,770 | |
| | | | |
| | | | | | | | | | | 10,237,207 | |
| | | | | | | | | | | | |
| | | | |
Materials: 3.59% | | | | | | | | | | | | |
| | | | |
| Chemicals: 2.09% | | | | | | | | | | | | |
CF Industries Holdings Incorporated | | | | | | | 18,910 | | | | 4,047,307 | |
LyondellBasell Industries NV Class A | | | | | | | 171,550 | | | | 8,531,182 | |
PPG Industries Incorporated | | | | | | | 45,775 | | | | 5,688,459 | |
| | | | |
| | | | | | | | | | | 18,266,948 | |
| | | | | | | | | | | | |
| | | | |
| Metals & Mining: 1.50% | | | | | | | | | | | | |
Freeport-McMoRan Copper & Gold Incorporated Class B | | | | | | | 336,200 | | | | 13,115,162 | |
| | | | | | | | | | | | |
| | | | |
Telecommunication Services: 3.70% | | | | | | | | | | | | |
| | | | |
| Diversified Telecommunication Services: 3.70% | | | | | | | | | | | | |
AT&T Incorporated | | | | | | | 658,450 | | | | 22,472,899 | |
Verizon Communications Incorporated | | | | | | | 224,600 | | | | 9,909,352 | |
| | | | |
| | | | | | | | | | | 32,382,251 | |
| | | | | | | | | | | | |
| | | | |
Utilities: 3.24% | | | | | | | | | | | | |
| | | | |
| Electric Utilities: 1.82% | | | | | | | | | | | | |
PPL Corporation | | | | | | | 542,500 | | | | 15,922,375 | |
| | | | | | | | | | | | |
| | | | |
| Gas Utilities: 0.65% | | | | | | | | | | | | |
Energen Corporation | | | | | | | 128,800 | | | | 5,735,464 | |
| | | | | | | | | | | | |
| | | | |
| Multi-Utilities: 0.77% | | | | | | | | | | | | |
NiSource Incorporated « | | | | | | | 277,450 | | | | 6,705,967 | |
| | | | | | | | | | | | |
| | | | |
Total Common Stocks (Cost $772,236,961) | | | | | | | | | | | 863,581,645 | |
| | | | | | | | | | | | |
| | | | | | | Principal | | | | |
| | | | |
Other: 0.05% | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (i)(a)(v) | | | | | | $ | 1,175,007 | | | | 387,752 | |
| | | | | | | | | | | | |
| | | | |
Total Other (Cost $111,329) | | | | | | | | | | | 387,752 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 51 | |
EQUITY VALUE PORTFOLIO
| | | | | | | | | | | | | | |
| Security name | | | | Yield | | | Shares | | | Value | |
| | | | | | | | | | | | | | |
| Short-Term Investments: 7.58% | | | | | | | | | | | | | | |
| | | | |
| Investment Companies: 7.58% | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund, Select Class (l)(u) | | | | | 0.16 | % | | | 12,139,015 | | | $ | 12,139,015 | |
Wells Fargo Securities Lending Cash Investments, LLC (v)(l)(u)(r) | | | | | 0.21 | | | | 54,138,746 | | | | 54,138,746 | |
| | | | |
Total Short-Term Investments (Cost $66,277,761) | | | | | | | | | | | | | 66,277,761 | |
| | | | | | | | | | | | | | |
| | | | | | | | |
Total investments in securities
(Cost $838,626,051) * | | | 106.37 | % | | | 930,247,158 | |
Other assets and liabilities, net | | | (6.37 | ) | | | (55,678,493 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 874,568,665 | |
| | | | | | | | |
| † | Non-income-earning security |
| « | All or a portion of this security is on loan. |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| (l) | Investment in an affiliate |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| * | Cost for federal income tax purposes is $843,914,887 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 100,987,042 | |
Gross unrealized depreciation | | | (14,654,771 | ) |
| | | | |
Net unrealized appreciation | | $ | 86,332,271 | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 52 | | Wells Fargo Advantage Allocation Funds | | Summary portfolio of investments—November 30, 2012 (unaudited) |
INDEX PORTFOLIO
The Summary Portfolio of Investments shows the 50 largest portfolio holdings in unaffiliated issuers and any holdings exceeding 1% of the total net assets as of the report date. The remaining securities held are grouped as “Other securities” in each category. You can request a complete schedule of portfolio holdings as of the report date, free of charge, by accessing the following website: http://a584.g.akamai.net/f/584/1326/1d/www.wellsfargoadvantagefunds.com/pdf/semi/holdings/index.pdf or by calling Wells Fargo Advantage Funds at 1-800-222-8222. This complete schedule, filed on the Form N-CSR, is also available on the SEC’s website at sec.gov.
| | | | | | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | | | Percent of
net assets | |
| | | | | |
Common Stocks: 98.03% | | | | | | | | | | | | | | | | |
| | | | | |
Consumer Discretionary: 11.31% | | | | | | | | | | | | | | | | |
| | | | | |
| Auto Components: 0.23% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | $ | 5,729,071 | | | | 0.23 | % |
| | | | | | | | | | | | | | | | |
| | | | | |
| Automobiles: 0.42% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 10,557,255 | | | | 0.42 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Distributors: 0.08% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 1,960,185 | | | | 0.08 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Diversified Consumer Services: 0.05% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 1,325,069 | | | | 0.05 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Hotels, Restaurants & Leisure: 1.78% | | | | | | | | | | | | | | | | |
McDonald’s Corporation « | | | | | | | 195,803 | | | | 17,042,693 | | | | 0.68 | |
Other securities | | | | | | | | | | | 27,527,805 | | | | 1.10 | |
| | | | | |
| | | | | | | | | | | 44,570,498 | | | | 1.78 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Household Durables: 0.39% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 9,734,576 | | | | 0.39 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Internet & Catalog Retail: 1.07% | | | | | | | | | | | | | | | | |
Amazon.com Incorporated †† | | | | | | | 70,221 | | | | 17,699,203 | | | | 0.70 | |
Other securities | | | | | | | | | | | 9,234,158 | | | | 0.37 | |
| | | | | |
| | | | | | | | | | | 26,933,361 | | | | 1.07 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Leisure Equipment & Products: 0.13% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 3,348,591 | | | | 0.13 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Media: 3.49% | | | | | | | | | | | | | | | | |
Comcast Corporation Class A | | | | | | | 519,555 | | | | 19,317,055 | | | | 0.77 | |
Walt Disney Company | | | | | | | 348,387 | | | | 17,300,898 | | | | 0.69 | |
Other securities | | | | | | | | | | | 51,031,769 | | | | 2.03 | |
| | | | | |
| | | | | | | | | | | 87,649,722 | | | | 3.49 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Multiline Retail: 0.84% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 21,136,868 | | | | 0.84 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Specialty Retail: 2.27% | | | | | | | | | | | | | | | | |
Home Depot Incorporated | | | | | | | 292,694 | | | | 19,045,599 | | | | 0.76 | |
Other securities | | | | | | | | | | | 37,961,338 | | | | 1.51 | |
| | | | | |
| | | | | | | | | | | 57,006,937 | | | | 2.27 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Textiles, Apparel & Luxury Goods: 0.62% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 15,683,058 | | | | 0.62 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Summary portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 53 | |
INDEX PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | | | Percent of
net assets | |
| | | | | | | | | | | | | | | | |
| | | | | |
Consumer Staples: 10.82% | | | | | | | | | | | | | | | | |
| | | | | |
| Beverages: 2.42% | | | | | | | | | | | | | | | | |
PepsiCo Incorporated | | | | | | | 302,176 | | | $ | 21,215,777 | | | | 0.84 | % |
The Coca-Cola Company | | | | | | | 751,744 | | | | 28,506,132 | | | | 1.14 | |
Other securities | | | | | | | | | | | 11,127,995 | | | | 0.44 | |
| | | | | |
| | | | | | | | | | | 60,849,904 | | | | 2.42 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Food & Staples Retailing: 2.38% | | | | | | | | | | | | | | | | |
CVS Caremark Corporation | | | | | | | 247,025 | | | | 11,489,133 | | | | 0.46 | |
Wal-Mart Stores Incorporated | | | | | | | 326,339 | | | | 23,502,935 | | | | 0.94 | |
Other securities | | | | | | | | | | | 24,661,725 | | | | 0.98 | |
| | | | | |
| | | | | | | | | | | 59,653,793 | | | | 2.38 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Food Products: 1.73% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 43,519,623 | | | | 1.73 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Household Products: 2.20% | | | | | | | | | | | | | | | | |
Procter & Gamble Company | | | | | | | 534,787 | | | | 37,344,176 | | | | 1.49 | |
Other securities | | | | | | | | | | | 17,884,105 | | | | 0.71 | |
| | | | | |
| | | | | | | | | | | 55,228,281 | | | | 2.20 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Personal Products: 0.15% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 3,885,456 | | | | 0.15 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Tobacco: 1.94% | | | | | | | | | | | | | | | | |
Altria Group Incorporated | | | | | | | 394,708 | | | | 13,345,077 | | | | 0.53 | |
Philip Morris International | | | | | | | 327,310 | | | | 29,418,623 | | | | 1.17 | |
Other securities | | | | | | | | | | | 5,856,785 | | | | 0.24 | |
| | | | | |
| | | | | | | | | | | 48,620,485 | | | | 1.94 | |
| | | | | | | | | | | | | | | | |
| | | | | |
Energy: 10.79% | | | | | | | | | | | | | | | | |
| | | | | |
| Energy Equipment & Services: 1.84% | | | | | | | | | | | | | | | | |
Schlumberger Limited | | | | | | | 257,664 | | | | 18,453,896 | | | | 0.73 | |
Other securities | | | | | | | | | | | 27,728,165 | | | | 1.11 | |
| | | | | |
| | | | | | | | | | | 46,182,061 | | | | 1.84 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Oil, Gas & Consumable Fuels: 8.95% | | | | | | | | | | | | | | | | |
Chevron Corporation | | | | | | | 380,981 | | | | 40,265,882 | | | | 1.60 | |
ConocoPhillips Company | | | | | | | 235,824 | | | | 13,427,819 | | | | 0.53 | |
Exxon Mobil Corporation | | | | | | | 896,260 | | | | 78,996,356 | | | | 3.15 | |
Occidental Petroleum Corporation | | | | | | | 157,264 | | | | 11,827,825 | | | | 0.47 | |
Other securities | | | | | | | | | | | 80,358,768 | | | | 3.20 | |
| | | | | |
| | | | | | | | | | | 224,876,650 | | | | 8.95 | |
| | | | | | | | | | | | | | | | |
| | | | | |
Financials: 14.67% | | | | | | | | | | | | | | | | |
| | | | | |
| Capital Markets: 1.87% | | | | | | | | | | | | | | | | |
Goldman Sachs Group Incorporated | | | | | | | 87,501 | | | | 10,306,743 | | | | 0.41 | |
Other securities | | | | | | | | | | | 36,626,864 | | | | 1.46 | |
| | | | | |
| | | | | | | | | | | 46,933,607 | | | | 1.87 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 54 | | Wells Fargo Advantage Allocation Funds | | Summary portfolio of investments—November 30, 2012 (unaudited) |
INDEX PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | | | Percent of
net assets | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Commercial Banks: 2.68% | | | | | | | | | | | | | | | | |
US Bancorp | | | | | | | 368,003 | | | $ | 11,871,777 | | | | 0.47 | % |
Wells Fargo & Company (l) | | | | | | | 953,829 | | | | 31,485,895 | | | | 1.25 | |
Other securities | | | | | | | | | | | 23,951,235 | | | | 0.96 | |
| | | | | |
| | | | | | | | | | | 67,308,907 | | | | 2.68 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Consumer Finance: 0.91% | | | | | | | | | | | | | | | | |
American Express Company | | | | | | | 191,501 | | | | 10,704,906 | | | | 0.43 | |
Other securities | | | | | | | | | | | 12,166,382 | | | | 0.48 | |
| | | | | |
| | | | | | | | | | | 22,871,288 | | | | 0.91 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Diversified Financial Services: 4.44% | | | | | | | | | | | | | | | | |
Bank of America Corporation | | | | | | | 2,092,520 | | | | 20,632,247 | | | | 0.82 | |
Berkshire Hathaway Incorporated Class B † | | | | | | | 356,069 | | | | 31,362,558 | | | | 1.25 | |
Citigroup Incorporated | | | | | | | 569,389 | | | | 19,683,778 | | | | 0.78 | |
JPMorgan Chase & Company | | | | | | | 737,590 | | | | 30,300,197 | | | | 1.21 | |
Other securities | | | | | | | | | | | 9,499,035 | | | | 0.38 | |
| | | | | |
| | | | | | | | | | | 111,477,815 | | | | 4.44 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Insurance: 2.57% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 64,620,169 | | | | 2.57 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Real Estate Management & Development: 0.05% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 1,109,885 | | | | 0.05 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| REITs: 2.09% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 52,517,665 | | | | 2.09 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Thrifts & Mortgage Finance: 0.06% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 1,575,260 | | | | 0.06 | |
| | | | | | | | | | | | | | | | |
| | | | | |
Health Care: 11.92% | | | | | | | | | | | | | | | | |
| | | | | |
| Biotechnology: 1.64% | | | | | | | | | | | | | | | | |
Amgen Incorporated | | | | | | | 149,657 | | | | 13,289,542 | | | | 0.53 | |
Gilead Sciences Incorporated Ǡ | | | | | | | 146,900 | | | | 11,017,500 | | | | 0.44 | |
Other securities | | | | | | | | | | | 17,024,622 | | | | 0.67 | |
| | | | | |
| | | | | | | | | | | 41,331,664 | | | | 1.64 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Health Care Equipment & Supplies: 1.75% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 43,997,456 | | | | 1.75 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Health Care Providers & Services: 1.87% | | | | | | | | | | | | | | | | |
UnitedHealth Group Incorporated | | | | | | | 200,517 | | | | 10,906,120 | | | | 0.44 | |
Other securities | | | | | | | | | | | 36,010,890 | | | | 1.43 | |
| | | | | |
| | | | | | | | | | | 46,917,010 | | | | 1.87 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Health Care Technology: 0.09% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 2,181,542 | | | | 0.09 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Summary Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 55 | |
INDEX PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | | | Percent of
net assets | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Life Sciences Tools & Services: 0.43% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | $ | 10,921,272 | | | | 0.43 | % |
| | | | | | | | | | | | | | | | |
| | | | | |
| Pharmaceuticals: 6.14% | | | | | | | | | | | | | | | | |
Abbott Laboratories | | | | | | | 304,712 | | | | 19,806,280 | | | | 0.79 | |
Bristol-Myers Squibb Company | | | | | | | 326,009 | | | | 10,637,674 | | | | 0.42 | |
Johnson & Johnson Services Incorporated « | | | | | | | 535,324 | | | | 37,328,143 | | | | 1.49 | |
Merck & Company Incorporated | | | | | | | 591,359 | | | | 26,197,204 | | | | 1.04 | |
Pfizer Incorporated | | | | | | | 1,450,322 | | | | 36,287,056 | | | | 1.44 | |
Other securities | | | | | | | | | | | 23,916,732 | | | | 0.96 | |
| | | | | |
| | | | | | | | | | | 154,173,089 | | | | 6.14 | |
| | | | | | | | | | | | | | | | |
| | | | | |
Industrials: 9.75% | | | | | | | | | | | | | | | | |
| | | | | |
| Aerospace & Defense: 2.24% | | | | | | | | | | | | | | | | |
United Technologies Corporation | | | | | | | 162,875 | | | | 13,047,916 | | | | 0.52 | |
Other securities | | | | | | | | | | | 43,292,739 | | | | 1.72 | |
| | | | | |
| | | | | | | | | | | 56,340,655 | | | | 2.24 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Air Freight & Logistics: 0.75% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 18,745,997 | | | | 0.75 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Airlines: 0.05% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 1,374,979 | | | | 0.05 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Building Products: 0.05% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 1,175,956 | | | | 0.05 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Commercial Services & Supplies: 0.56% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 13,984,010 | | | | 0.56 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Construction & Engineering: 0.15% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 3,822,287 | | | | 0.15 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Electrical Equipment: 0.54% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 13,695,927 | | | | 0.54 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Industrial Conglomerates: 2.57% | | | | | | | | | | | | | | | | |
3M Company | | | | | | | 123,492 | | | | 11,231,597 | | | | 0.45 | |
General Electric Company | | | | | | | 2,050,171 | | | | 43,320,113 | | | | 1.73 | |
Other securities | | | | | | | | | | | 9,935,416 | | | | 0.39 | |
| | | | | |
| | | | | | | | | | | 64,487,126 | | | | 2.57 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Machinery: 1.88% | | | | | | | | | | | | | | | | |
Caterpillar Incorporated « | | | | | | | 126,843 | | | | 10,812,097 | | | | 0.43 | |
Other securities | | | | | | | | | | | 36,414,019 | | | | 1.45 | |
| | | | | |
| | | | | | | | | | | 47,226,116 | | | | 1.88 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Road & Rail: 0.78% | | | | | | | | | | | | | | | | |
Union Pacific Corporation | | | | | | | 91,959 | | | | 11,290,726 | | | | 0.45 | |
Other securities | | | | | | | | | | | 8,203,289 | | | | 0.33 | |
| | | | | |
| | | | | | | | | | | 19,494,015 | | | | 0.78 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 56 | | Wells Fargo Advantage Allocation Funds | | Summary portfolio of investments—November 30, 2012 (unaudited) |
INDEX PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | | | Percent of
net assets | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Trading Companies & Distributors: 0.18% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | $ | 4,445,839 | | | | 0.18 | % |
| | | | | | | | | | | | | | | | |
| | | | | |
Information Technology: 18.81% | | | | | | | | | | | | | | | | |
| | | | | |
| Communications Equipment: 1.92% | | | | | | | | | | | | | | | | |
Cisco Systems Incorporated | | | | | | | 1,027,151 | | | | 19,423,425 | | | | 0.77 | |
QUALCOMM Incorporated | | | | | | | 330,733 | | | | 21,041,233 | | | | 0.84 | |
Other securities | | | | | | | | | | | 7,885,294 | | | | 0.31 | |
| | | | | |
| | | | | | | | | | | 48,349,952 | | | | 1.92 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Computers & Peripherals: 5.24% | | | | | | | | | | | | | | | | |
Apple Incorporated † | | | | | | | 182,013 | | | | 106,528,569 | | | | 4.24 | |
Other securities | | | | | | | | | | | 25,039,333 | | | | 1.00 | |
| | | | | |
| | | | | | | | | | | 131,567,902 | | | | 5.24 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Electronic Equipment, Instruments & Components: 0.41% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 10,387,903 | | | | 0.41 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Internet Software & Services: 2.15% | | | | | | | | | | | | | | | | |
eBay Incorporated † | | | | | | | 225,195 | | | | 11,894,800 | | | | 0.48 | |
Google Incorporated Class A † | | | | | | | 51,434 | | | | 35,919,963 | | | | 1.43 | |
Other securities | | | | | | | | | | | 6,096,363 | | | | 0.24 | |
| | | | | |
| | | | | | | | | | | 53,911,126 | | | | 2.15 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| IT Services: 3.76% | | | | | | | | | | | | | | | | |
International Business Machines Corporation | | | | | | | 208,575 | | | | 39,643,850 | | | | 1.58 | |
Visa Incorporated Class A | | | | | | | 101,486 | | | | 15,193,469 | | | | 0.60 | |
Other securities | | | | | | | | | | | 39,510,048 | | | | 1.58 | |
| | | | | |
| | | | | | | | | | | 94,347,367 | | | | 3.76 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Office Electronics: 0.07% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 1,728,480 | | | | 0.07 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Semiconductors & Semiconductor Equipment: 1.88% | | | | | | | | | | | | | | | | |
Intel Corporation | | | | | | | 971,414 | | | | 19,010,572 | | | | 0.76 | |
Other securities | | | | | | | | | | | 28,213,753 | | | | 1.12 | |
| | | | | |
| | | | | | | | | | | 47,224,325 | | | | 1.88 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Software: 3.38% | | | | | | | | | | | | | | | | |
Microsoft Corporation | | | | | | | 1,464,995 | | | | 38,998,167 | | | | 1.55 | |
Oracle Corporation | | | | | | | 739,454 | | | | 23,736,473 | | | | 0.94 | |
Other securities | | | | | | | | | | | 22,078,184 | | | | 0.89 | |
| | | | | |
| | | | | | | | | | | 84,812,824 | | | | 3.38 | |
| | | | | | | | | | | | | | | | |
| | | | | |
Materials: 3.46% | | | | | | | | | | | | | | | | |
| | | | | |
| Chemicals: 2.38% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 59,792,868 | | | | 2.38 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Construction Materials: 0.05% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 1,327,552 | | | | 0.05 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Summary portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 57 | |
INDEX PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | | | Percent of
net assets | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Containers & Packaging: 0.13% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | $ | 3,292,559 | | | | 0.13 | % |
| | | | | | | | | | | | | | | | |
| | | | | |
| Metals & Mining: 0.73% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 18,188,548 | | | | 0.73 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Paper & Forest Products: 0.17% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 4,195,688 | | | | 0.17 | |
| | | | | | | | | | | | | | | | |
| | | | | |
Telecommunication Services: 3.07% | | | | | | | | | | | | | | | | |
| | | | | |
| Diversified Telecommunication Services: 2.76% | | | | | | | | | | | | | | | | |
AT&T Incorporated | | | | | | | 1,120,145 | | | | 38,230,549 | | | | 1.52 | |
Verizon Communications Incorporated | | | | | | | 553,156 | | | | 24,405,243 | | | | 0.97 | |
Other securities | | | | | | | | | | | 6,584,977 | | | | 0.27 | |
| | | | | |
| | | | | | | | | | | 69,220,769 | | | | 2.76 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Wireless Telecommunication Services: 0.31% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 7,833,705 | | | | 0.31 | |
| | | | | | | | | | | | | | | | |
| | | | | |
Utilities: 3.37% | | | | | | | | | | | | | | | | |
| | | | | |
| Electric Utilities: 1.99% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 50,113,792 | | | | 1.99 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Gas Utilities: 0.11% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 2,675,945 | | | | 0.11 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Independent Power Producers & Energy Traders: 0.09% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 2,219,690 | | | | 0.09 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Multi-Utilities: 1.18% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 29,693,241 | | | | 1.18 | |
| | | | | | | | | | | | | | | | |
| | | | | |
Total Common Stocks (Cost $1,927,101,077) | | | | | | | | | | | 2,462,065,216 | | | | 98.03 | |
| | | | | | | | | | | | | | | | |
| | | | | |
Investment Companies: 0.10% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 2,403,229 | | | | 0.10 | |
| | | | | | | | | | | | | | | | |
| | | | | |
Total Investment Companies (Cost $2,358,744) | | | | | | | | | | | 2,403,229 | | | | 0.10 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| | | | | | | Principal | | | | | | | |
| | | | | |
Other: 0.05% | | | | | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (a)(i)(v) | | | | | | $ | 4,147,337 | | | | 1,368,621 | | | | 0.05 | |
| | | | | | | | | | | | | | | | |
| | | | | |
Total Other (Cost $392,952) | | | | | | | | | | | 1,368,621 | | | | 0.05 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 58 | | Wells Fargo Advantage Allocation Funds | | Summary portfolio of investments—November 30, 2012 (unaudited) |
INDEX PORTFOLIO
| | | | | | | | | | | | | | | | | | | | |
| Security name | | Yield | | | | | | Shares | | | Value | | | Percent of
net assets | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Short-Term Investments: 8.03% | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Investment Companies: 7.90% | | | | | | | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund, Select Class (l)(u) | | | 0.16 | % | | | | | | | 39,179,893 | | | $ | 39,179,893 | | | | 1.56 | % |
Wells Fargo Securities Lending Cash Investments, LLC (v)(l)(u)(r) | | �� | 0.21 | | | | | | | | 159,290,071 | | | | 159,290,071 | | | | 6.34 | |
| | | | | |
| | | | | | | | | | | | | | | 198,469,964 | | | | 7.90 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| | | Interest rate | | | Maturity date | | | Principal | | | | | | | |
| | | | | |
| U.S. Treasury Securities: 0.13% | | | | | | | | | | | | | | | | | | | | |
U.S. Treasury Bill #(z) | | | 0.05 | | | | 1-31-13 | | | $ | 2,000,000 | | | | 1,999,820 | | | | 0.08 | |
U.S. Treasury Bill #(z) | | | 0.08 | | | | 2-21-13 | | | | 500,000 | | | | 499,911 | | | | 0.02 | |
U.S. Treasury Bill #(z) | | | 0.09 | | | | 1-24-13 | | | | 750,000 | | | | 749,897 | | | | 0.03 | |
| | | | | |
| | | | | | | | | | | | | | | 3,249,628 | | | | 0.13 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Total Short-Term Investments (Cost $201,719,510) | | | | | | | | | | | | | | | 201,719,592 | | | | 8.03 | |
| | | | | | | | | | | | | | | | | | | | |
Total investments in securities
(Cost $2,131,572,283) * | | | | | | | | | | | | | | | 2,667,556,658 | | | | 106.21 | |
Other assets and liabilities, net | | | | | | | | | | | | | | | (156,053,926 | ) | | | (6.21 | ) |
| | | | | | | | | | | | | | | | | | | | |
| Total net assets | | | | | | | | | | | | | | $ | 2,511,502,732 | | | | 100.00 | % |
| | | | | | | | | | | | | | | | | | | | |
| « | All or a portion of this security is on loan. |
| † | Non-income-earning security |
| (l) | Investment in an affiliate |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| # | All or a portion of this security is segregated as collateral for investments in derivative instruments. |
| (z) | Zero coupon security. Rate represents yield to maturity at time of purchase. |
| * | Cost for federal income tax purposes is $2,236,771,410 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 617,641,282 | |
Gross unrealized depreciation | | | (186,856,034 | ) |
| | | | |
Net unrealized appreciation | | $ | 430,785,248 | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 59 | |
INTERNATIONAL EQUITY PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Common Stocks: 98.39% | | | | | | | | | | | | |
| | | | |
| Argentina: 0.06% | | | | | | | | | | | | |
IRSA Inversiones y Representaciones SA ADR (Financials, Real Estate Management & Development) | | | | | | | 2,011 | | | $ | 14,338 | |
| | | | | | | | | | | | |
| | | | |
| Australia: 1.64% | | | | | | | | | | | | |
BHP Billiton Limited (Materials, Metals & Mining) | | | | | | | 10,199 | | | | 366,036 | |
| | | | | | | | | | | | |
| | | | |
| Brazil: 0.96% | | | | | | | | | | | | |
Cosan Limited Class A (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 13,251 | | | | 214,666 | |
| | | | | | | | | | | | |
| | | | |
| Canada: 4.48% | | | | | | | | | | | | |
Barrick Gold Corporation (Materials, Metals & Mining) | | | | | | | 6,825 | | | | 236,970 | |
Cenovus Energy Incorporated (Energy, Oil, Gas & Consumable Fuels) « | | | | | | | 8,503 | | | | 283,575 | |
Suncor Energy Incorporated (Energy, Oil, Gas & Consumable Fuels) « | | | | | | | 4,222 | | | | 137,964 | |
Valeant Pharmaceuticals International Incorporated (Health Care, Pharmaceuticals) Ǡ | | | | | | | 6,202 | | | | 342,847 | |
| | | | |
| | | | | | | | | | | 1,001,356 | |
| | | | | | | | | | | | |
| | | | |
| China: 1.49% | | | | | | | | | | | | |
AutoNavi Holdings Limited ADR (Information Technology, Software) † | | | | | | | 3,871 | | | | 47,226 | |
Biostime International Holding Limited (Consumer Staples, Food Products) | | | | | | | 16,500 | | | | 49,925 | |
Industrial & Commercial Bank of China Class H (Financials, Commercial Banks) | | | | | | | 290,000 | | | | 195,698 | |
Shenguan Holdings Group Limited (Consumer Staples, Food Products) | | | | | | | 78,000 | | | | 39,653 | |
| | | | |
| | | | | | | | | | | 332,502 | |
| | | | | | | | | | | | |
| | | | |
| Finland: 1.72% | | | | | | | | | | | | |
Metso Oyj (Industrials, Machinery) | | | | | | | 10,222 | | | | 384,336 | |
| | | | | | | | | | | | |
| | | | |
| France: 1.84% | | | | | | | | | | | | |
Total SA (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 8,218 | | | | 411,218 | |
| | | | | | | | | | | | |
| | | | |
| Germany: 8.29% | | | | | | | | | | | | |
Allianz AG (Financials, Insurance) | | | | | | | 2,614 | | | | 339,794 | |
Bayer AG (Health Care, Pharmaceuticals) | | | | | | | 3,940 | | | | 356,386 | |
Metro AG (Consumer Staples, Food & Staples Retailing) | | | | | | | 16,214 | | | | 454,006 | |
SAP AG (Information Technology, Software) | | | | | | | 1,917 | | | | 149,689 | |
Siemens AG (Industrials, Industrial Conglomerates) | | | | | | | 5,363 | | | | 553,106 | |
| | | | |
| | | | | | | | | | | 1,852,981 | |
| | | | | | | | | | | | |
| | | | |
| Hong Kong: 7.28% | | | | | | | | | | | | |
China Everbright Limited (Financials, Capital Markets) | | | | | | | 374,000 | | | | 539,511 | |
China Mobile Limited (Telecommunication Services, Wireless Telecommunication Services) | | | | | | | 34,000 | | | | 388,687 | |
Hengdeli Holdings Limited (Consumer Discretionary, Specialty Retail) | | | | | | | 1,027,951 | | | | 366,074 | |
Jardine Matheson Holdings Limited (Industrials, Industrial Conglomerates) | | | | | | | 5,600 | | | | 330,512 | |
Xtep International Holdings Limited (Consumer Discretionary, Textiles, Apparel & Luxury Goods) | | | | | | | 7,788 | | | | 3,095 | |
| | | | |
| | | | | | | | | | | 1,627,879 | |
| | | | | | | | | | | | |
| | | | |
| Italy: 4.46% | | | | | | | | | | | | |
ENI SpA (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 19,955 | | | | 471,816 | |
Intesa Sanpaolo SpA (Financials, Commercial Banks) | | | | | | | 312,533 | | | | 525,966 | |
| | | | |
| | | | | | | | | | | 997,782 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 60 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
INTERNATIONAL EQUITY PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Japan: 19.27% | | | | | | | | | | | | |
Asahi Glass Company Limited (Industrials, Building Products) | | | | | | | 53,000 | | | $ | 403,761 | |
Canon Incorporated (Information Technology, Office Electronics) | | | | | | | 15,600 | | | | 545,579 | |
Capcom Company Limited (Information Technology, Software) | | | | | | | 21,400 | | | | 402,378 | |
FamilyMart Company Limited (Consumer Staples, Food & Staples Retailing) | | | | | | | 7,200 | | | | 319,233 | |
Itochu Corporation (Industrials, Trading Companies & Distributors) | | | | | | | 37,100 | | | | 370,842 | |
Mitsubishi UFJ Financial Group Incorporated (Financials, Commercial Banks) | | | | | | | 88,200 | | | | 403,365 | |
Mitsui OSK Lines Limited (Industrials, Marine) | | | | | | | 185,000 | | | | 464,548 | |
Nitto Denko Corporation (Materials, Chemicals) | | | | | | | 6,646 | | | | 346,268 | |
Toyota Motor Corporation (Consumer Discretionary, Automobiles) | | | | | | | 13,700 | | | | 587,487 | |
USS Company Limited (Consumer Discretionary, Specialty Retail) | | | | | | | 2,700 | | | | 287,572 | |
Yamada Denki Company Limited (Consumer Discretionary, Specialty Retail) « | | | | | | | 4,940 | | | | 174,684 | |
| | | | |
| | | | | | | | | | | 4,305,717 | |
| | | | | | | | | | | | |
| | | | |
| Netherlands: 2.71% | | | | | | | | | | | | |
Akzo Nobel NV (Materials, Chemicals) | | | | | | | 10,587 | | | | 605,007 | |
| | | | | | | | | | | | |
| | | | |
| Norway: 3.56% | | | | | | | | | | | | |
Marine Harvest ASA (Consumer Staples, Food Products) † | | | | | | | 423,722 | | | | 370,278 | |
Statoil ASA (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 17,361 | | | | 424,489 | |
| | | | |
| | | | | | | | | | | 794,767 | |
| | | | | | | | | | | | |
| | | | |
| Philippines: 1.23% | | | | | | | | | | | | |
Philippine Long Distance Telephone Company (Telecommunication Services, Wireless Telecommunication Services) | | | | | | | 4,350 | | | | 275,106 | |
| | | | | | | | | | | | |
| | | | |
| Russia: 1.60% | | | | | | | | | | | | |
Mobile Telesystems ADR (Telecommunication Services, Wireless Telecommunication Services) | | | | | | | 13,246 | | | | 230,878 | |
Sberbank of Russia (Financials, Commercial Banks) | | | | | | | 42,727 | | | | 125,617 | |
| | | | |
| | | | | | | | | | | 356,495 | |
| | | | | | | | | | | | |
| | | | |
| South Korea: 4.64% | | | | | | | | | | | | |
Hana Financial Group Incorporated (Financials, Commercial Banks) | | | | | | | 5,210 | | | | 161,662 | |
Samsung Electronics Company Limited GDR (Information Technology, Semiconductors & Semiconductor Equipment)144A | | | | | | | 719 | | | | 470,945 | |
SK Telecom Company Limited (Telecommunication Services, Wireless Telecommunication Services) | | | | | | | 2,908 | | | | 404,169 | |
| | | | |
| | | | | | | | | | | 1,036,776 | |
| | | | | | | | | | | | |
| | | | |
| Sweden: 1.46% | | | | | | | | | | | | |
Volvo AB Class B (Industrials, Machinery) | | | | | | | 23,056 | | | | 326,607 | |
| | | | | | | | | | | | |
| | | | |
| Switzerland: 10.73% | | | | | | | | | | | | |
ABB Limited (Industrials, Electrical Equipment) | | | | | | | 26,766 | | | | 521,629 | |
Compagnie Financiere Richemont SA (Consumer Discretionary, Textiles, Apparel & Luxury Goods) | | | | | | | 3,853 | | | | 297,072 | |
Novartis AG (Health Care, Pharmaceuticals) | | | | | | | 9,051 | | | | 560,133 | |
Swatch Group AG Class B (Consumer Discretionary, Textiles, Apparel & Luxury Goods) | | | | | | | 925 | | | | 446,779 | |
Zurich Financial Services AG (Financials, Insurance) | | | | | | | 2,241 | | | | 571,918 | |
| | | | |
| | | | | | | | | | | 2,397,531 | |
| | | | | | | | | | | | |
| | | | |
| Taiwan: 1.18% | | | | | | | | | | | | |
Taiwan Semiconductor Manufacturing Company Limited ADR (Information Technology, Semiconductors & Semiconductor Equipment) | | | | | | | 15,290 | | | | 264,058 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 61 | |
INTERNATIONAL EQUITY PORTFOLIO
| | | | | | | | | | | | | | |
| Security name | | | | | | | Shares | | | Value | |
| | | | | | | | | | | | | | |
| | | | |
| United Kingdom: 16.54% | | | | | | | | | | | | | | |
BP plc (Energy, Oil, Gas & Consumable Fuels) | | | | | | | | | 72,681 | | | $ | 502,581 | |
Capita plc (Industrials, Professional Services) | | | | | | | | | 45,078 | | | | 550,691 | |
Chemring Group plc (Industrials, Aerospace & Defense) | | | | | | | | | 91,046 | | | | 358,985 | |
Debenhams plc (Consumer Discretionary, Multiline Retail) | | | | | | | | | 144,945 | | | | 273,792 | |
Man Group plc (Financials, Capital Markets) | | | | | | | | | 239,146 | | | | 294,258 | |
Reckitt Benckiser Group plc (Consumer Staples, Household Products) | | | | | | | | | 5,408 | | | | 340,079 | |
Smiths Group plc (Industrials, Industrial Conglomerates) | | | | | | | | | 24,767 | | | | 434,501 | |
Vodafone Group plc ADR (Telecommunication Services, Wireless Telecommunication Services) « | | | | | | | | | 16,672 | | | | 430,138 | |
Wolseley plc (Industrials, Trading Companies & Distributors) | | | | | | | | | 11,033 | | | | 512,089 | |
| | | | |
| | | | | | | | | | | | | 3,697,114 | |
| | | | | | | | | | | | | | |
| | | | |
| United States: 3.25% | | | | | | | | | | | | | | |
Bank of America Corporation (Financials, Diversified Financial Services) | | | | | | | | | 17,794 | | | | 175,449 | |
KKR & Company Limited Partnership (Financials, Capital Markets) | | | | | | | | | 12,547 | | | | 172,521 | |
QUALCOMM Incorporated (Information Technology, Communications Equipment) | | | | | | | | | 5,945 | | | | 378,219 | |
| | | | |
| | | | | | | | | | | | | 726,189 | |
| | | | | | | | | | | | | | |
| | | | |
Total Common Stocks (Cost $21,945,178) | | | | | | | | | | | | | 21,988,461 | |
| | | | | | | | | | | | | | |
| | | | |
| | | | | Yield | | | | | | | |
| Short-Term Investments: 6.28% | | | | | | | | | | | | | | |
| | | | |
| Investment Companies: 6.28% | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund, Select Class (u)(l) | | | | | 0.16 | % | | | 327,352 | | | | 327,352 | |
Wells Fargo Securities Lending Cash Investments, LLC (l)(u)(v)(r) | | | | | 0.21 | | | | 1,076,691 | | | | 1,076,691 | |
| | | | |
Total Short-Term Investments (Cost $1,404,043) | | | | | | | | | | | | | 1,404,043 | |
| | | | | | | | | | | | | | |
| | | | | | | | |
| Total investments in securities | | | | | | | | |
| (Cost $23,349,221) * | | | 104.67 | % | | | 23,392,504 | |
Other assets and liabilities, net | | | (4.67 | ) | | | (1,043,530 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 22,348,974 | |
| | | | | | | | |
| « | All or a portion of this security is on loan. |
| † | Non-income-earning security |
| 144A | Security that may be resold to “qualified institutional buyers” under Rule 144A or security offered pursuant to Section 4(2) of the Securities Act of 1933, as amended. |
| (l) | Investment in an affiliate |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
��
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| * | Cost for federal income tax purposes is $23,452,164 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 1,346,020 | |
Gross unrealized depreciation | | | (1,405,680 | ) |
| | | | |
Net unrealized depreciation | | $ | (59,660 | ) |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 62 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
INTERNATIONAL EQUITY PORTFOLIO
The following table shows the percent of total long-term investments by sector as of November 30, 2012:
| | | | |
Industrials | | | 23.70 | % |
Financials | | | 16.01 | % |
Energy | | | 11.13 | % |
Consumer Discretionary | | | 11.08 | % |
Information Technology | | | 10.27 | % |
Telecommunication Services | | | 7.86 | % |
Consumer Staples | | | 7.15 | % |
Materials | | | 7.07 | % |
Health Care | | | 5.73 | % |
| | | | |
| | | 100.00 | % |
| | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 63 | |
INTERNATIONAL GROWTH PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Common Stocks: 97.11% | | | | | | | | | | | | |
| | | | |
| Australia: 0.46% | | | | | | | | | | | | |
Coca-Cola Amatil Limited (Consumer Staples, Beverages) | | | | | | | 20,004 | | | $ | 286,839 | |
Westfield Group (Financials, REITs) | | | | | | | 21,325 | | | | 231,895 | |
| | | | |
| | | | | | | | | | | 518,734 | |
| | | | | | | | | | | | |
| | | | |
| Belgium: 4.41% | | | | | | | | | | | | |
Anheuser-Busch InBev NV (Consumer Staples, Beverages) | | | | | | | 46,254 | | | | 4,053,891 | |
Telenet Group Holding NV (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 3,921 | | | | 179,093 | |
UCB SA (Health Care, Pharmaceuticals) | | | | | | | 12,217 | | | | 693,468 | |
| | | | |
| | | | | | | | | | | 4,926,452 | |
| | | | | | | | | | | | |
| | | | |
| Bermuda: 0.71% | | | | | | | | | | | | |
Hong Kong Land Holdings Limited (Financials, Real Estate Management & Development) | | | | | | | 120,966 | | | | 791,118 | |
| | | | | | | | | | | | |
| | | | |
| Canada: 4.19% | | | | | | | | | | | | |
Canadian Pacific Railway Limited (Industrials, Road & Rail) « | | | | | | | 50,104 | | | | 4,676,707 | |
| | | | | | | | | | | | |
| | | | |
| Cayman Islands: 5.52% | | | | | | | | | | | | |
Baidu.com Incorporated ADR (Information Technology, Internet Software & Services) Ǡ | | | | | | | 34,473 | | | | 3,320,095 | |
China Resources Land Limited (Financials, Real Estate Management & Development) | | | | | | | 542,500 | | | | 1,448,963 | |
Tencent Holdings Limited (Information Technology, Internet Software & Services) | | | | | | | 42,500 | | | | 1,388,480 | |
| | | | |
| | | | | | | | | | | 6,157,538 | |
| | | | | | | | | | | | |
| | | | |
| China: 0.91% | | | | | | | | | | | | |
China Construction Bank (Financials, Commercial Banks) | | | | | | | 1,332,000 | | | | 1,020,887 | |
| | | | | | | | | | | | |
| | | | |
| France: 8.48% | | | | | | | | | | | | |
Air Liquide SA (Materials, Chemicals) | | | | | | | 6,183 | | | | 755,159 | |
LVMH Moet Hennessy Louis Vuitton SA (Consumer Discretionary, Textiles, Apparel & Luxury Goods) « | | | | | | | 3,681 | | | | 645,810 | |
Pernod-Ricard SA (Consumer Staples, Beverages) | | | | | | | 20,327 | | | | 2,301,544 | |
Schneider Electric SA (Industrials, Electrical Equipment) | | | | | | | 26,850 | | | | 1,887,065 | |
Technip SA (Energy, Energy Equipment & Services) | | | | | | | 2,935 | | | | 340,945 | |
Unibail-Rodamco SA (Financials, Real Estate Management & Development) | | | | | | | 10,243 | | | | 2,403,872 | |
Zodiac Aerospace SA (Industrials, Aerospace & Defense) | | | | | | | 10,132 | | | | 1,131,920 | |
| | | | |
| | | | | | | | | | | 9,466,315 | |
| | | | | | | | | | | | |
| | | | |
| Germany: 15.75% | | | | | | | | | | | | |
Allianz AG (Financials, Insurance) | | | | | | | 6,314 | | | | 820,757 | |
Bayer AG (Health Care, Pharmaceuticals) | | | | | | | 19,649 | | | | 1,777,317 | |
Beiersdorf AG (Consumer Staples, Personal Products) | | | | | | | 24,166 | | | | 1,895,175 | |
Brenntag AG (Materials, Chemicals) | | | | | | | 13,684 | | | | 1,768,996 | |
Deutsche Post AG (Industrials, Air Freight & Logistics) | | | | | | | 96,274 | | | | 1,998,339 | |
Kabel Deutschland Holding AG (Consumer Discretionary, Media) | | | | | | | 14,861 | | | | 1,074,608 | |
Linde AG (Materials, Chemicals) | | | | | | | 28,103 | | | | 4,859,240 | |
Muenchener Rueckversicherungs-Gesellschaft AG (Financials, Insurance) | | | | | | | 19,801 | | | | 3,379,977 | |
| | | | |
| | | | | | | | | | | 17,574,409 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 64 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
INTERNATIONAL GROWTH PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Hong Kong: 11.61% | | | | | | | | | | | | |
AIA Group Limited (Financials, Insurance) | | | | | | | 912,600 | | | $ | 3,550,217 | |
BOC Hong Kong Holdings Limited (Financials, Commercial Banks) | | | | | | | 154,088 | | | | 473,187 | |
China Mobile Limited (Telecommunication Services, Wireless Telecommunication Services) | | | | | | | 167,100 | | | | 1,910,281 | |
Hang Seng Bank Limited (Financials, Commercial Banks) | | | | | | | 82,451 | | | | 1,259,606 | |
Sands China Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 352,113 | | | | 1,501,553 | |
Sino Land Company (Financials, Real Estate Management & Development) | | | | | | | 506,252 | | | | 914,496 | |
Sun Hung Kai Properties Limited (Financials, Real Estate Management & Development) | | | | | | | 141,742 | | | | 2,073,952 | |
Wynn Macau Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 447,396 | | | | 1,278,654 | |
| | | | |
| | | | | | | | | | | 12,961,946 | |
| | | | | | | | | | | | |
| | | | |
| India: 0.46% | | | | | | | | | | | | |
Coal India Limited (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 75,394 | | | | 508,055 | |
| | | | | | | | | | | | |
| | | | |
| Indonesia: 0.27% | | | | | | | | | | | | |
PT Bank Rakyat Indonesia Tbk (Financials, Commercial Banks) | | | | | | | 417,500 | | | | 306,809 | |
| | | | | | | | | | | | |
| | | | |
| Ireland: 2.75% | | | | | | | | | | | | |
Covidien plc (Health Care, Health Care Equipment & Supplies) « | | | | | | | 44,665 | | | | 2,595,483 | |
CRH plc (Materials, Construction Materials) | | | | | | | 25,767 | | | | 470,834 | |
| | | | |
| | | | | | | | | | | 3,066,317 | |
| | | | | | | | | | | | |
| | | | |
| Italy: 0.97% | | | | | | | | | | | | |
Fiat Industrial SpA (Consumer Discretionary, Auto Components) | | | | | | | 101,323 | | | | 1,083,196 | |
| | | | | | | | | | | | |
| | | | |
| Japan: 10.30% | | | | | | | | | | | | |
Bridgestone Corporation (Consumer Discretionary, Auto Components) | | | | | | | 25,740 | | | | 621,057 | |
Honda Motor Company Limited (Consumer Discretionary, Automobiles) | | | | | | | 107,500 | | | | 3,562,686 | |
Japan Tobacco Incorporated (Consumer Staples, Tobacco) | | | | | | | 163,300 | | | | 4,892,958 | |
Kao Corporation (Consumer Staples, Personal Products) | | | | | | | 26,900 | | | | 738,457 | |
NGK Insulators Limited (Industrials, Electrical Equipment) | | | | | | | 120,000 | | | | 1,283,921 | |
Nissan Motor Company Limited (Consumer Discretionary, Automobiles) | | | | | | | 40,900 | | | | 396,423 | |
| | | | |
| | | | | | | | | | | 11,495,502 | |
| | | | | | | | | | | | |
| | | | |
| Malaysia: 0.16% | | | | | | | | | | | | |
Astro Malaysia Holdings Bhd (Consumer Discretionary, Media) † | | | | | | | 188,000 | | | | 177,501 | |
| | | | | | | | | | | | |
| | | | |
| Mexico: 0.20% | | | | | | | | | | | | |
America Movil SAB de CV ADR (Telecommunication Services, Wireless Telecommunication Services) | | | | | | | 9,434 | | | | 222,548 | |
| | | | | | | | | | | | |
| | | | |
| Netherlands: 5.42% | | | | | | | | | | | | |
Akzo Nobel NV (Materials, Chemicals) | | | | | | | 9,393 | | | | 536,774 | |
Koninklijke Vopak NV (Industrials, Transportation Infrastructure) | | | | | | | 14,255 | | | | 1,053,221 | |
Unilever NV (Consumer Staples, Food Products) « | | | | | | | 106,845 | | | | 4,054,081 | |
Ziggo NV (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 12,765 | | | | 399,765 | |
| | | | |
| | | | | | | | | | | 6,043,841 | |
| | | | | | | | | | | | |
| | | | |
| Nigeria: 0.36% | | | | | | | | | | | | |
Nigerian Breweries plc (Consumer Staples, Beverages) | | | | | | | 449,279 | | | | 400,882 | |
| | | | | | | | | | | | |
| | | | |
| Singapore: 0.36% | | | | | | | | | | | | |
City Developments Limited (Financials, Real Estate Management & Development) | | | | | | | 42,427 | | | | 407,377 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 65 | |
INTERNATIONAL GROWTH PORTFOLIO
| | | | | | | | | | | | | | |
| Security name | | | | | | | Shares | | | Value | |
| | | | | | | | | | | | | | |
| | | | |
| South Korea: 0.93% | | | | | | | | | | | | | | |
Samsung Electronics Company Limited (Information Technology, Semiconductors & Semiconductor Equipment) | | | | | | | | | 800 | | | $ | 1,038,740 | |
| | | | | | | | | | | | | | |
| | | | |
| Spain: 0.60% | | | | | | | | | | | | | | |
Grifols SA (Health Care, Biotechnology) † | | | | | | | | | 20,818 | | | | 665,906 | |
| | | | | | | | | | | | | | |
| | | | |
| Switzerland: 6.59% | | | | | | | | | | | | | | |
Actelion Limited (Health Care, Biotechnology) | | | | | | | | | 3,193 | | | | 158,151 | |
Givaudan SA (Materials, Chemicals) | | | | | | | | | 421 | | | | 422,726 | |
Nestle SA (Consumer Staples, Food Products) | | | | | | | | | 60,722 | | | | 3,974,090 | |
Roche Holdings AG (Health Care, Pharmaceuticals) | | | | | | | | | 6,397 | | | | 1,259,105 | |
Swatch Group AG Class B (Consumer Discretionary, Textiles, Apparel & Luxury Goods) | | | | | | | | | 1,642 | | | | 793,093 | |
UBS AG (Financials, Diversified Financial Services) | | | | | | | | | 47,706 | | | | 746,452 | |
| | | | |
| | | | | | | | | | | | | 7,353,617 | |
| | | | | | | | | | | | | | |
| | | | |
| United Kingdom: 12.58% | | | | | | | | | | | | | | |
British Land Company plc (Financials, REITs) | | | | | | | | | 45,246 | | | | 398,700 | |
Diageo plc (Consumer Staples, Beverages) | | | | | | | | | 21,136 | | | | 628,837 | |
HSBC Holdings plc (Financials, Commercial Banks) | | | | | | | | | 244,015 | | | | 2,493,081 | |
Imperial Tobacco Group plc (Consumer Staples, Tobacco) | | | | | | | | | 66,670 | | | | 2,667,180 | |
Intercontinental Hotels Group plc (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | | | 16,779 | | | | 448,400 | |
Johnson Matthey plc (Materials, Chemicals) | | | | | | | | | 23,221 | | | | 892,513 | |
Land Securities Group plc (Financials, REITs) | | | | | | | | | 96,190 | | | | 1,245,216 | |
Meggitt plc (Industrials, Aerospace & Defense) | | | | | | | | | 93,247 | | | | 581,747 | |
Prudential plc (Financials, Insurance) | | | | | | | | | 37,180 | | | | 539,090 | |
Reckitt Benckiser Group plc (Consumer Staples, Household Products) | | | | | | | | | 1,242 | | | | 78,102 | |
Rolls Royce Holdings plc (Industrials, Aerospace & Defense) | | | | | | | | | 14,464 | | | | 206,360 | |
SABMiller plc (Consumer Staples, Beverages) | | | | | | | | | 54,661 | | | | 2,476,188 | |
WPP plc (Consumer Discretionary, Media) | | | | | | | | | 100,615 | | | | 1,379,875 | |
| | | | |
| | | | | | | | | | | | | 14,035,289 | |
| | | | | | | | | | | | | | |
| | | | |
| United States: 2.66% | | | | | | | | | | | | | | |
Liberty Global Incorporated Class A (Consumer Discretionary, Media) Ǡ | | | | | | | | | 11,065 | | | | 620,083 | |
Schlumberger Limited (Energy, Energy Equipment & Services) | | | | | | | | | 27,470 | | | | 1,967,401 | |
Virgin Media Incorporated (Consumer Discretionary, Media) « | | | | | | | | | 10,933 | | | | 384,514 | |
| | | | |
| | | | | | | | | | | | | 2,971,998 | |
| | | | | | | | | | | | | | |
| | | | |
| Virgin Islands (British): 0.46% | | | | | | | | | | | | | | |
Arcos Dorados Holdings Incorporated Class A (Consumer Discretionary, Hotels, Restaurants & Leisure) « | | | | | | | | | 41,894 | | | | 513,202 | |
| | | | | | | | | | | | | | |
| | | | |
Total Common Stocks (Cost $92,791,322) | | | | | | | | | | | | | 108,384,886 | |
| | | | | | | | | | | | | | |
| | | | |
| | | | | Dividend Yield | | | | | | | |
| | | | |
Preferred Stocks: 1.67% | | | | | | | | | | | | | | |
| | | | |
| Germany: 1.67% | | | | | | | | | | | | | | |
Henkel AG & Company KGaA ADR (Consumer Staples, Household Products) | | | | | 0.96 | % | | | 22,301 | | | | 1,863,480 | |
| | | | | | | | | | | | | | |
| | | | |
Total Preferred Stocks (Cost $1,577,687) | | | | | | | | | | | | | 1,863,480 | |
| | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 66 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
INTERNATIONAL GROWTH PORTFOLIO
| | | | | | | | | | | | | | |
| Security name | | | | Yield | | | Shares | | | Value | |
| | | | | | | | | | | | | | |
| | | | |
Short-Term Investments: 7.23% | | | | | | | | | | | | | | |
| | | | |
| Investment Companies: 7.23% | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund, Select Class (l)(u) | | | | | 0.16 | % | | | 1,084,659 | | | $ | 1,084,659 | |
Wells Fargo Securities Lending Cash Investments, LLC (r)(v)(l)(u) | | | | | 0.21 | | | | 6,985,505 | | | | 6,985,505 | |
| | | | |
Total Short-Term Investments (Cost $8,070,164) | | | | | | | | | | | | | 8,070,164 | |
| | | | | | | | | | | | | | |
| | | | | | | | |
| Total investments in securities | | | | | | | | |
| (Cost $102,439,173) * | | | 106.01 | % | | | 118,318,530 | |
Other assets and liabilities, net | | | (6.01 | ) | | | (6,711,662 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 111,606,868 | |
| | | | | | | | |
| † | Non-income-earning security |
| « | All or a portion of this security is on loan. |
| (l) | Investment in an affiliate |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| * | Cost for federal income tax purposes is $102,953,148 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 16,530,333 | |
Gross unrealized depreciation | | | (1,164,951 | ) |
| | | | |
Net unrealized appreciation | | $ | 15,365,382 | |
The following table shows the percent of total long-term investments by sector as of November 30, 2012:
| | | | |
Consumer Staples | | | 27.50 | % |
Financials | | | 22.24 | % |
Consumer Discretionary | | | 13.13 | % |
Industrials | | | 11.63 | % |
Materials | | | 8.80 | % |
Health Care | | | 6.48 | % |
Information Technology | | | 5.21 | % |
Energy | | | 2.55 | % |
Telecommunication Services | | | 2.46 | % |
| | | | |
| | | 100.00 | % |
| | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Summary portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 67 | |
INTERNATIONAL INDEX PORTFOLIO
The Summary Portfolio of Investments shows the 50 largest portfolio holdings in unaffiliated issuers and any holdings exceeding 1% of the total net assets as of the report date. The remaining securities held are grouped as “Other securities” in each category. You can request a complete schedule of portfolio holdings as of the report date, free of charge, by accessing the following website: http://a584.g.akamai.net/f/584/1326/1d/www.wellsfargoadvantagefunds.com/pdf/semi/holdings/internationalindex.pdf or by calling Wells Fargo Advantage Funds at 1-800-222-8222. This complete schedule, filed on the Form N-CSR, is also available on the SEC’s website at sec.gov.
| | | | | | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | | | Percent of
net assets | |
| | | | | |
Common Stocks: 98.26% | | | | | | | | | | | | | | | | |
| | | | | |
| Australia: 8.86% | | | | | | | | | | | | | | | | |
Australia & New Zealand Banking Group Limited (Financials, Commercial Banks) | | | | | | | 5,621 | | | $ | 142,898 | | | | 0.64 | % |
BHP Billiton Limited (Materials, Metals & Mining) | | | | | | | 6,732 | | | | 241,607 | | | | 1.08 | |
Commonwealth Bank of Australia (Financials, Commercial Banks) | | | | | | | 3,324 | | | | 207,060 | | | | 0.93 | |
National Australia Bank Limited (Financials, Commercial Banks) | | | | | | | 4,698 | | | | 119,139 | | | | 0.53 | |
Westpac Banking Corporation (Financials, Commercial Banks) | | | | | | | 6,378 | | | | 169,730 | | | | 0.76 | |
Other securities | | | | | | | | | | | 1,101,482 | | | | 4.92 | |
| | | | | |
| | | | | | | | | | | 1,981,916 | | | | 8.86 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Austria: 0.30% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 67,957 | | | | 0.30 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Belgium: 1.16% | | | | | | | | | | | | | | | | |
Anheuser-Busch InBev NV (Consumer Staples, Beverages) | | | | | | | 1,685 | | | | 147,680 | | | | 0.66 | |
Other securities | | | | | | | | | | | 112,318 | | | | 0.50 | |
| | | | | |
| | | | | | | | | | | 259,998 | | | | 1.16 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Denmark: 1.17% | | | | | | | | | | | | | | | | |
Novo Nordisk A/S Class B (Health Care, Pharmaceuticals) | | | | | | | 854 | | | | 135,626 | | | | 0.61 | |
Other securities | | | | | | | | | | | 126,283 | | | | 0.56 | |
| | | | | |
| | | | | | | | | | | 261,909 | | | | 1.17 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Finland: 0.79% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 176,560 | | | | 0.79 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| France: 9.05% | | | | | | | | | | | | | | | | |
BNP Paribas SA (Financials, Commercial Banks) | | | | | | | 2,097 | | | | 117,122 | | | | 0.52 | |
LVMH Moet Hennessy Louis Vuitton SA (Consumer Discretionary, Textiles, Apparel & Luxury Goods) « | | | | | | | 531 | | | | 93,161 | | | | 0.42 | |
Sanofi-Aventis SA (Health Care, Pharmaceuticals) | | | | | | | 2,482 | | | | 221,632 | | | | 0.99 | |
Total SA (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 4,441 | | | | 222,222 | | | | 0.99 | |
Other securities | | | | | | | | | | | 1,370,611 | | | | 6.13 | |
| | | | | |
| | | | | | | | | | | 2,024,748 | | | | 9.05 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Germany: 8.04% | | | | | | | | | | | | | | | | |
Allianz AG (Financials, Insurance) | | | | | | | 955 | | | | 124,141 | | | | 0.56 | |
BASF SE (Materials, Chemicals) | | | | | | | 1,924 | | | | 172,406 | | | | 0.77 | |
Bayer AG (Health Care, Pharmaceuticals) | | | | | | | 1,735 | | | | 156,936 | | | | 0.70 | |
Daimler AG (Consumer Discretionary, Automobiles) | | | | | | | 1,895 | | | | 93,603 | | | | 0.42 | |
Deutsche Bank AG (Financials, Commercial Banks) | | | | | | | 1,940 | | | | 85,633 | | | | 0.38 | |
SAP AG (Information Technology, Software) | | | | | | | 1,932 | | | | 150,860 | | | | 0.67 | |
Siemens AG (Industrials, Industrial Conglomerates) | | | | | | | 1,718 | | | | 177,184 | | | | 0.79 | |
Other securities | | | | | | | | | | | 837,128 | | | | 3.75 | |
| | | | | |
| | | | | | | | | | | 1,797,891 | | | | 8.04 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 68 | | Wells Fargo Advantage Allocation Funds | | Summary portfolio of investments—November 30, 2012 (unaudited) |
INTERNATIONAL INDEX PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | | | Percent of
net assets | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Greece: 0.06% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | $ | 13,673 | | | | 0.06 | % |
| | | | | | | | | | | | | | | | |
| | | | | |
| Hong Kong: 3.23% | | | | | | | | | | | | | | | | |
AIA Group Limited (Financials, Insurance) | | | | | | | 22,600 | | | | 87,919 | | | | 0.39 | |
Other securities | | | | | | | | | | | 634,229 | | | | 2.84 | |
| | | | | |
| | | | | | | | | | | 722,148 | | | | 3.23 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Ireland: 0.29% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 65,673 | | | | 0.29 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Israel: 0.61% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 135,199 | | | | 0.61 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Italy: 2.16% | | | | | | | | | | | | | | | | |
ENI SpA (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 5,328 | | | | 125,975 | | | | 0.56 | |
Other securities | | | | | | | | | | | 357,357 | | | | 1.60 | |
| | | | | |
| | | | | | | | | | | 483,332 | | | | 2.16 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Japan: 18.92% | | | | | | | | | | | | | | | | |
Honda Motor Company Limited (Consumer Discretionary, Automobiles) | | | | | | | 3,400 | | | | 112,680 | | | | 0.50 | |
Mitsubishi UFJ Financial Group Incorporated (Financials, Commercial Banks) | | | | | | | 26,670 | | | | 121,970 | | | | 0.55 | |
Sumitomo Mitsui Financial Group Incorporated (Financials, Commercial Banks) | | | | | | | 2,800 | | | | 90,146 | | | | 0.40 | |
Toyota Motor Corporation (Consumer Discretionary, Automobiles) « | | | | | | | 5,800 | | | | 248,717 | | | | 1.11 | |
Other securities | | | | | | | | | | | 3,657,217 | | | | 16.36 | |
| | | | | |
| | | | | | | | | | | 4,230,730 | | | | 18.92 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Luxembourg: 0.42% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 93,196 | | | | 0.42 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Netherlands: 2.80% | | | | | | | | | | | | | | | | |
Unilever NV (Consumer Staples, Food Products) | | | | | | | 3,412 | | | | 129,463 | | | | 0.58 | |
Other securities | | | | | | | | | | | 497,038 | | | | 2.22 | |
| | | | | |
| | | | | | | | | | | 626,501 | | | | 2.80 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| New Zealand: 0.14% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 30,215 | | | | 0.14 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Norway: 0.89% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 197,747 | | | | 0.89 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Portugal: 0.17% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 38,251 | | | | 0.17 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Singapore: 1.83% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 409,754 | | | | 1.83 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Spain: 2.91% | | | | | | | | | | | | | | | | |
Banco Bilbao Vizcaya Argentaria SA (Financials, Commercial Banks) | | | | | | | 11,236 | | | | 95,335 | | | | 0.43 | |
Banco Santander Central Hispano SA (Financials, Commercial Banks) | | | | | | | 21,405 | | | | 164,636 | | | | 0.73 | |
Telefonica SA (Telecommunication Services, Diversified Telecommunication Services) † | | | | | | | 8,458 | | | | 110,991 | | | | 0.50 | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Summary portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 69 | |
INTERNATIONAL INDEX PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | | | Percent of
net assets | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Spain: (continued) | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | $ | 280,650 | | | | 1.25 | % |
| | | | | |
| | | | | | | | | | | 651,612 | | | | 2.91 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Sweden: 3.08% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 688,524 | | | | 3.08 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Switzerland: 8.73% | | | | | | | | | | | | | | | | |
ABB Limited (Industrials, Electrical Equipment) | | | | | | | 4,584 | | | | 89,335 | | | | 0.40 | |
Nestle SA (Consumer Staples, Food Products) | | | | | | | 6,744 | | | | 441,377 | | | | 1.97 | |
Novartis AG (Health Care, Pharmaceuticals) | | | | | | | 4,802 | | | | 297,178 | | | | 1.33 | |
Roche Holdings AG (Health Care, Pharmaceuticals) | | | | | | | 1,467 | | | | 288,746 | | | | 1.29 | |
UBS AG (Financials, Diversified Financial Services) † | | | | | | | 7,639 | | | | 119,527 | | | | 0.53 | |
Other securities | | | | | | | | | | | 715,210 | | | | 3.21 | |
| | | | | |
| | | | | | | | | | | 1,951,373 | | | | 8.73 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| United Kingdom: 22.65% | | | | | | | | | | | | | | | | |
AstraZeneca plc (Health Care, Pharmaceuticals) | | | | | | | 2,608 | | | | 123,953 | | | | 0.55 | |
Barclays plc (Financials, Commercial Banks) | | | | | | | 24,305 | | | | 95,793 | | | | 0.43 | |
BG Group plc (Health Care, Health Care Providers & Services) | | | | | | | 7,126 | | | | 122,161 | | | | 0.55 | |
BHP Billiton plc (Materials, Metals & Mining) | | | | | | | 4,417 | | | | 138,845 | | | | 0.62 | |
BP plc (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 39,722 | | | | 274,673 | | | | 1.23 | |
British American Tobacco plc (Consumer Staples, Tobacco) | | | | | | | 4,064 | | | | 213,175 | | | | 0.95 | |
Diageo plc (Consumer Staples, Beverages) | | | | | | | 5,256 | | | | 156,376 | | | | 0.70 | |
GlaxoSmithKline plc (Health Care, Pharmaceuticals) | | | | | | | 10,401 | | | | 222,381 | | | | 0.99 | |
HSBC Holdings plc (Financials, Commercial Banks) | | | | | | | 38,292 | | | | 391,226 | | | | 1.75 | |
Rio Tinto plc (Materials, Metals & Mining) | | | | | | | 2,803 | | | | 138,924 | | | | 0.62 | |
Royal Dutch Shell plc Class A (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 7,716 | | | | 258,308 | | | | 1.15 | |
Royal Dutch Shell plc Class B (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 5,520 | | | | 190,541 | | | | 0.85 | |
SABMiller plc (Consumer Staples, Beverages) | | | | | | | 1,998 | | | | 90,511 | | | | 0.40 | |
Standard Chartered plc (Financials, Commercial Banks) | | | | | | | 5,009 | | | | 116,766 | | | | 0.52 | |
Tesco plc (Consumer Staples, Food & Staples Retailing) | | | | | | | 16,814 | | | | 87,577 | | | | 0.39 | |
Unilever plc (Consumer Staples, Food Products) | | | | | | | 2,683 | | | | 103,295 | | | | 0.46 | |
Vodafone Group plc (Telecommunication Services, Wireless Telecommunication Services) | | | | | | | 103,024 | | | | 265,994 | | | | 1.19 | |
Other securities | | | | | | | | | | | 2,074,836 | | | | 9.30 | |
| | | | | |
| | | | | | | | | | | 5,065,335 | | | | 22.65 | |
| | | | | | | | | | | | | | | | |
| | | | | |
Total Common Stocks (Cost $20,230,067) | | | | | | | | | | | 21,974,242 | | | | 98.26 | |
| | | | | | | | | | | | | | | | |
| | | | | |
Preferred Stocks: 0.62% | | | | | | | | | | | | | | | | |
| | | | | |
| Germany: 0.62% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 138,423 | | | | 0.62 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| United Kingdom: 0.00% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 489 | | | | 0.00 | |
| | | | | | | | | | | | | | | | |
| | | | | |
Total Preferred Stocks (Cost $95,903) | | | | | | | | | | | 138,912 | | | | 0.62 | |
| | | | | | | | | | | | | | | | |
| | | | | |
Rights: 0.02% | | | | | | | | | | | | | | | | |
| | | | | |
| Spain: 0.01% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 2,479 | | | | 0.01 | |
| | | | | | | | | | | | | | | | |
| | | | | |
| Switzerland: 0.00% | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | 120 | | | | 0.00 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 70 | | Wells Fargo Advantage Allocation Funds | | Summary portfolio of investments—November 30, 2012 (unaudited) |
INTERNATIONAL INDEX PORTFOLIO
| | | | | | | | | | | | | | | | | | |
| Security name | | | | | | | | | | Value | | | Percent of
net assets | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
| United Kingdom : 0.01% | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | $ | 1,353 | | | | 0.01 | % |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Total Rights (Cost $15,422) | | | | | | | | | | | | | 3,952 | | | | 0.02 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
| | | | | Yield | | | Shares | | | | | | | |
| | | | | |
Short-Term Investments: 2.02% | | | | | | | | | | | | | | | | | | |
| | | | | |
| Investment Companies: 2.02% | | | | | | | | | | | | | | | | | | |
Wells Fargo Securities Lending Cash Investment, LLC (u)(l)(v)(r) | | | | | 0.21 | % | | | 452,217 | | | | 452,217 | | | | 2.02 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Total Short-Term Investments (Cost $452,217) | | | | | | | | | | | | | 452,217 | | | | 2.02 | |
| | | | | | | | | | | | | | | | | | |
| Total investments in securities | | | | | | | | | | | | | | | | | | |
| (Cost $20,793,609) * | | | | | | | | | | | | | 22,569,323 | | | | 100.92 | |
Other assets and liabilities, net | | | | | | | | | | | | | (206,172 | ) | | | (0.92 | ) |
| | | | | | | | | | | | | | | | | | |
| Total net assets | | | | | | | | | | | | $ | 22,363,151 | | | | 100.00 | % |
| | | | | | | | | | | | | | | | | | |
| † | Non-income-earning security |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| (l) | Investment in an affiliate |
| « | All or a portion of this security is on loan. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| * | Cost for federal income tax purposes is $21,165,061 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 2,838,297 | |
Gross unrealized depreciation | | | (1,434,035 | ) |
| | | | |
Net unrealized appreciation | | $ | 1,404,262 | |
The following table shows the percent of total long-term investments by sector as of November 30, 2012:
| | | | |
Financials | | | 24.55 | % |
Industrials | | | 12.27 | % |
Consumer Staples | | | 11.82 | % |
Consumer Discretionary | | | 11.03 | % |
Health Care | | | 10.53 | % |
Materials | | | 9.66 | % |
Energy | | | 7.40 | % |
Telecommunication Services | | | 4.63 | % |
Information Technology | | | 4.30 | % |
Utilities | | | 3.81 | % |
| | | | |
| | | 100.00 | % |
| | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 71 | |
INTERNATIONAL VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Common Stocks: 96.62% | | | | | | | | | | | | |
| | | | |
| Australia: 4.83% | | | | | | | | | | | | |
Arrium Limited (Materials, Metals & Mining) | | | | | | | 934,300 | | | $ | 799,529 | |
Bendigo Bank Limited (Financials, Commercial Banks) | | | | | | | 272,500 | | | | 2,297,797 | |
Boart Longyear Group (Energy, Energy Equipment & Services) | | | | | | | 199,991 | | | | 299,500 | |
Cabcharge Australia Limited (Industrials, Commercial Services & Supplies) | | | | | | | 207,386 | | | | 837,576 | |
Challenger Financial Services Group Limited (Financials, Diversified Financial Services) | | | | | | | 475,400 | | | | 1,652,104 | |
Downer EDI Limited (Industrials, Commercial Services & Supplies) † | | | | | | | 425,500 | | | | 1,567,502 | |
Goodman Fielder Limited (Consumer Staples, Food Products) † | | | | | | | 1,387,983 | | | | 970,494 | |
Lend Lease Corporation Limited (Financials, Real Estate Management & Development) | | | | | | | 273,769 | | | | 2,457,065 | |
Metcash Limited (Consumer Staples, Food & Staples Retailing) | | | | | | | 536,500 | | | | 1,920,427 | |
Mincor Resources NL (Materials, Metals & Mining) | | | | | | | 570,994 | | | | 622,704 | |
Myer Holdings Limited (Consumer Discretionary, Multiline Retail) « | | | | | | | 577,400 | | | | 1,307,586 | |
Sally Malay Mining Limited (Materials, Metals & Mining) | | | | | | | 368,800 | | | | 202,062 | |
Westpac Banking Corporation (Financials, Commercial Banks) | | | | | | | 91,800 | | | | 2,442,962 | |
| | | | |
| | | | | | | | | | | 17,377,308 | |
| | | | | | | | | | | | |
| | | | |
| Austria: 1.54% | | | | | | | | | | | | |
Erste Bank Der Oesterreichischen Sparkassen AG (Financials, Commercial Banks) † | | | | | | | 22,100 | | | | 650,004 | |
OMV AG (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 41,100 | | | | 1,468,878 | |
RHI AG (Materials, Chemicals) | | | | | | | 63,021 | | | | 1,883,487 | |
Voestalpine AG (Materials, Metals & Mining) | | | | | | | 47,700 | | | | 1,540,050 | |
| | | | |
| | | | | | | | | | | 5,542,419 | |
| | | | | | | | | | | | |
| | | | |
| Belgium: 1.16% | | | | | | | | | | | | |
Delhaize Group SA (Consumer Staples, Food & Staples Retailing) | | | | | | | 39,400 | | | | 1,456,802 | |
KBC Groep NV (Financials, Commercial Banks) | | | | | | | 53,400 | | | | 1,608,796 | |
Tessenderlo Chemie NV (Materials, Chemicals) | | | | | | | 37,000 | | | | 1,117,836 | |
| | | | |
| | | | | | | | | | | 4,183,434 | |
| | | | | | | | | | | | |
| | | | |
| Brazil: 1.75% | | | | | | | | | | | | |
Banco do Brasil SA (Financials, Commercial Banks) | | | | | | | 130,500 | | | | 1,338,101 | |
Cia Saneamento Basico de Sau Paulo (Utilities, Water Utilities) | | | | | | | 84,400 | | | | 3,416,604 | |
Cia Saneamento Minas Gerais (Utilities, Water Utilities) | | | | | | | 72,400 | | | | 1,524,710 | |
| | | | |
| | | | | | | | | | | 6,279,415 | |
| | | | | | | | | | | | |
| | | | |
| Canada: 2.17% | | | | | | | | | | | | |
Magna International Incorporated Class A (Consumer Discretionary, Auto Components) « | | | | | | | 54,400 | | | | 2,538,320 | |
Metro Incorporated (Consumer Staples, Food & Staples Retailing) « | | | | | | | 48,400 | | | | 2,979,961 | |
WestJet Airlines Limited (Industrials, Airlines) | | | | | | | 120,000 | | | | 2,271,103 | |
| | | | |
| | | | | | | | | | | 7,789,384 | |
| | | | | | | | | | | | |
| | | | |
| China: 2.72% | | | | | | | | | | | | |
China BlueChemical Limited (Materials, Chemicals) | | | | | | | 1,984,000 | | | | 1,239,008 | |
China Communications Services Corporation Limited (Telecommunication Services, Diversified
Telecommunication Services) | | | | | | | 2,836,000 | | | | 1,595,438 | |
China Petroleum & Chemical Corporation (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 4,705,000 | | | | 4,990,207 | |
China Railway Construction Corporation Limited (Industrials, Construction & Engineering) « | | | | | | | 1,747,500 | | | | 1,948,130 | |
| | | | |
| | | | | | | | | | | 9,772,783 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 72 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
INTERNATIONAL VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Czech Republic: 0.53% | | | | | | | | | | | | |
CEZ AS (Utilities, Electric Utilities) | | | | | | | 57,500 | | | $ | 1,910,678 | |
| | | | | | | | | | | | |
| | | | |
| Denmark: 0.57% | | | | | | | | | | | | |
Danske Bank A/S (Financials, Commercial Banks) † | | | | | | | 45,600 | | | | 781,821 | |
H. Lundbeck A/S (Health Care, Pharmaceuticals) | | | | | | | 75,800 | | | | 1,267,231 | |
| | | | |
| | | | | | | | | | | 2,049,052 | |
| | | | | | | | | | | | |
| | | | |
| Finland: 0.44% | | | | | | | | | | | | |
TietoEnator Oyj (Information Technology, IT Services) | | | | | | | 82,700 | | | | 1,587,520 | |
| | | | | | | | | | | | |
| | | | |
| France: 7.70% | | | | | | | | | | | | |
AXA SA (Financials, Insurance) | | | | | | | 93,100 | | | | 1,529,862 | |
BNP Paribas SA (Financials, Commercial Banks) | | | | | | | 30,200 | | | | 1,686,735 | |
Credit Agricole SA (Financials, Commercial Banks) † | | | | | | | 219,328 | | | | 1,662,706 | |
Sanofi-Aventis SA (Health Care, Pharmaceuticals) | | | | | | | 88,338 | | | | 7,888,214 | |
SCOR SE (Financials, Insurance) | | | | | | | 109,700 | | | | 2,896,923 | |
Societe Generale SA (Financials, Diversified Financial Services) † | | | | | | | 39,000 | | | | 1,410,311 | |
Societe Television Francaise 1 SA (Consumer Discretionary, Media) | | | | | | | 133,100 | | | | 1,302,256 | |
Thales SA (Industrials, Aerospace & Defense) | | | | | | | 59,100 | | | | 2,125,634 | |
Total SA (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 85,500 | | | | 4,278,308 | |
Vivendi SA (Consumer Discretionary, Media) | | | | | | | 134,746 | | | | 2,895,031 | |
| | | | |
| | | | | | | | | | | 27,675,980 | |
| | | | | | | | | | | | |
| | | | |
| Germany: 8.25% | | | | | | | | | | | | |
Allianz AG (Financials, Insurance) | | | | | | | 33,100 | | | | 4,302,671 | |
BASF SE (Materials, Chemicals) | | | | | | | 46,500 | | | | 4,166,770 | |
Daimler AG (Consumer Discretionary, Automobiles) | | | | | | | 69,300 | | | | 3,423,068 | |
Deutsche Bank AG (Financials, Commercial Banks) | | | | | | | 41,200 | | | | 1,818,597 | |
E.ON AG (Utilities, Multi-Utilities) | | | | | | | 52,800 | | | | 951,067 | |
Hannover Rueckversicherung AG (Financials, Insurance) | | | | | | | 31,000 | | | | 2,283,962 | |
Metro AG (Consumer Staples, Food & Staples Retailing) | | | | | | | 49,800 | | | | 1,394,443 | |
Muenchener Rueckversicherungs-Gesellschaft AG (Financials, Insurance) | | | | | | | 19,700 | | | | 3,362,737 | |
Norddeutsche Affinerie AG (Materials, Metals & Mining) | | | | | | | 25,900 | | | | 1,645,813 | |
RWE AG (Utilities, Multi-Utilities) | | | | | | | 40,900 | | | | 1,705,618 | |
Volkswagen AG (Consumer Discretionary, Automobiles) | | | | | | | 22,600 | | | | 4,596,979 | |
| | | | |
| | | | | | | | | | | 29,651,725 | |
| | | | | | | | | | | | |
| | | | |
| Hong Kong: 1.78% | | | | | | | | | | | | |
Guangdong Investment Limited (Utilities, Water Utilities) | | | | | | | 2,772,000 | | | | 2,253,310 | |
Johnson Electric Holdings Limited (Industrials, Electrical Equipment) | | | | | | | 1,133,500 | | | | 763,447 | |
Kingboard Laminates Holdings Limited (Information Technology, Electronic Equipment, Instruments & Components) | | | | | | | 2,204,000 | | | | 966,891 | |
Lonking Holdings Limited (Industrials, Machinery) « | | | | | | | 3,973,000 | | | | 907,359 | |
Yue Yuen Industrial Holdings Limited (Consumer Discretionary, Textiles, Apparel & Luxury Goods) | | | | | | | 429,500 | | | | 1,504,597 | |
| | | | |
| | | | | | | | | | | 6,395,604 | |
| | | | | | | | | | | | |
| | | | |
| India: 1.10% | | | | | | | | | | | | |
Tata Motors Limited ADR (Consumer Discretionary, Auto Components) « | | | | | | | 83,800 | | | | 2,100,866 | |
Tata Steel Limited GDR (Industrials, Machinery) | | | | | | | 245,900 | | | | 1,840,562 | |
| | | | |
| | | | | | | | | | | 3,941,428 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 73 | |
INTERNATIONAL VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Indonesia: 0.25% | | | | | | | | | | | | |
PT Japfa Comfeed Indonesia tbk (Consumer Staples, Food Products) | | | | | | | 1,621,000 | | | $ | 903,982 | |
| | | | | | | | | | | | |
| | | | |
| Ireland: 0.00% | | | | | | | | | | | | |
Allied Irish Banks plc (Financials, Commercial Banks) † | | | | | | | 79,300 | | | | 5,466 | |
Irish Life & Permanent Group Holdings plc (Financials, Insurance) † | | | | | | | 111,500 | | | | 2,900 | |
| | | | |
| | | | | | | | | | | 8,366 | |
| | | | | | | | | | | | |
| | | | |
| Israel: 1.20% | | | | | | | | | | | | |
Bank Hapoalim Limited (Financials, Commercial Banks) † | | | | | | | 542,900 | | | | 2,236,944 | |
Teva Pharmaceutical Industries Limited (Health Care, Pharmaceuticals) | | | | | | | 51,404 | | | | 2,088,389 | |
| | | | |
| | | | | | | | | | | 4,325,333 | |
| | | | | | | | | | | | |
| | | | |
| Italy: 1.61% | | | | | | | | | | | | |
Enel SpA (Utilities, Multi-Utilities) | | | | | | | 688,400 | | | | 2,608,902 | |
ENI SpA (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 135,200 | | | | 3,196,671 | |
| | | | |
| | | | | | | | | | | 5,805,573 | |
| | | | | | | | | | | | |
| | | | |
| Japan: 18.96% | | | | | | | | | | | | |
Adeka Corporation (Materials, Chemicals) | | | | | | | 203,200 | | | | 1,624,417 | |
Aozora Bank Limited (Financials, Commercial Banks) | | | | | | | 588,000 | | | | 1,811,755 | |
Chiba Bank Limited (Financials, Commercial Banks) | | | | | | | 208,000 | | | | 1,241,414 | |
Edion Corporation (Consumer Discretionary, Specialty Retail) | | | | | | | 73,600 | | | | 287,490 | |
Eizo Nanao Corporation (Information Technology, Computers & Peripherals) | | | | | | | 63,300 | | | | 979,044 | |
Fukuoka Financial Group Incorporated (Financials, Commercial Banks) | | | | | | | 378,000 | | | | 1,490,265 | |
Hitachi Capital Corporation (Financials, Consumer Finance) | | | | | | | 57,700 | | | | 1,087,715 | |
Itochu Corporation (Industrials, Trading Companies & Distributors) | | | | | | | 168,000 | | | | 1,679,287 | |
JX Holdings Incorporated (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 408,000 | | | | 2,177,716 | |
KDDI Corporation (Telecommunication Services, Wireless Telecommunication Services) | | | | | | | 60,000 | | | | 4,439,862 | |
Kyorin Company Limited (Health Care, Pharmaceuticals) | | | | | | | 99,000 | | | | 2,106,460 | |
Maeda Road Construction Company Limited (Industrials, Construction & Engineering) | | | | | | | 148,000 | | | | 2,009,001 | |
Marubeni Corporation (Industrials, Trading Companies & Distributors) | | | | | | | 516,000 | | | | 3,398,896 | |
Miraca Holdings Incorporated (Health Care, Health Care Providers & Services) | | | | | | | 25,700 | | | | 1,042,840 | |
Mitsubishi Corporation (Industrials, Trading Companies & Distributors) | | | | | | | 35,500 | | | | 672,233 | |
Mitsui & Company Limited (Industrials, Trading Companies & Distributors) | | | | | | | 54,300 | | | | 750,260 | |
Mizuho Financial Group Incorporated (Financials, Commercial Banks) | | | | | | | 1,831,300 | | | | 2,932,390 | |
Nichirei Corporation (Consumer Staples, Food Products) | | | | | | | 265,000 | | | | 1,436,950 | |
Nihon Kohden Corporation (Health Care, Health Care Equipment & Supplies) | | | | | | | 45,400 | | | | 1,489,743 | |
Nippon Electric Glass Company Limited (Information Technology, Electronic Equipment, Instruments & Components) | | | | | | | 107,000 | | | | 610,056 | |
Nippon Telegraph & Telephone Corporation (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 74,600 | | | | 3,334,761 | |
Nissan Motor Company Limited (Consumer Discretionary, Automobiles) | | | | | | | 151,400 | | | | 1,467,442 | |
Nissan Shatai Company Limited (Consumer Discretionary, Auto Components) | | | | | | | 8,700 | | | | 99,733 | |
NTT DoCoMo Incorporated (Telecommunication Services, Wireless Telecommunication Services) | | | | | | | 1,400 | | | | 2,019,288 | |
Otsuka Corporation (Information Technology, IT Services) | | | | | | | 32,800 | | | | 2,602,196 | |
Otsuka Holdings Company Limited (Health Care, Health Care Providers & Services) | | | | | | | 133,900 | | | | 3,974,687 | |
Rengo Company Limited (Materials, Containers & Packaging) | | | | | | | 208,000 | | | | 1,082,453 | |
Ryosan Company Limited (Information Technology, Electronic Equipment, Instruments & Components) | | | | | | | 16,200 | | | | 262,745 | |
Saizeriya Company Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 44,900 | | | | 630,185 | |
Sankyu Incorporated (Industrials, Road & Rail) | | | | | | | 313,000 | | | | 1,275,769 | |
Sega Sammy Holdings Incorporated (Consumer Discretionary, Leisure Equipment & Products) | | | | | | | 80,800 | | | | 1,344,788 | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 74 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
INTERNATIONAL VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Japan: (continued) | | | | | | | | | | | | |
Shionogi & Company Limited (Health Care, Pharmaceuticals) | | | | | | | 113,100 | | | $ | 1,915,298 | |
Sojitz Corporation (Industrials, Trading Companies & Distributors) | | | | | | | 678,000 | | | | 855,365 | |
Sumitomo Corporation (Consumer Discretionary, Distributors) | | | | | | | 285,000 | | | | 3,536,787 | |
Sumitomo Mitsui Financial Group Incorporated (Financials, Commercial Banks) | | | | | | | 92,900 | | | | 2,990,921 | |
Sumitomo Mitsui Trust Holdings Incorporated (Financials, Commercial Banks) | | | | | | | 613,000 | | | | 1,859,040 | |
The Keiyo Bank Limited (Financials, Commercial Banks) | | | | | | | 62,000 | | | | 273,767 | |
Toshiba TEC Corporation (Information Technology, Office Electronics) | | | | | | | 234,000 | | | | 1,175,180 | |
Tsuruha Holdings Incorporated (Consumer Staples, Food & Staples Retailing) | | | | | | | 29,400 | | | | 2,214,763 | |
Yokohama Rubber Company Limited (Consumer Discretionary, Auto Components) | | | | | | | 297,000 | | | | 1,988,767 | |
| | | | |
| | | | | | | | | | | 68,171,729 | |
| | | | | | | | | | | | |
| | | | |
| Liechtenstein: 0.14% | | | | | | | | | | | | |
Verwaltungs-Und Privat-Bank AG (Financials, Capital Markets) | | | | | | | 7,800 | | | | 521,431 | |
| | | | | | | | | | | | |
| | | | |
| Netherlands: 2.57% | | | | | | | | | | | | |
Aegon NV (Financials, Insurance) | | | | | | | 151,800 | | | | 873,205 | |
ING Groep NV (Financials, Diversified Financial Services) † | | | | | | | 237,100 | | | | 2,130,772 | |
Koninklijke Ahold NV (Consumer Staples, Food & Staples Retailing) | | | | | | | 241,100 | | | | 3,059,119 | |
Koninklijke DSM NV (Consumer Staples, Food & Staples Retailing) | | | | | | | 52,700 | | | | 3,035,251 | |
Nutreco Holding NV (Consumer Staples, Food Products) | | | | | | | 1,740 | | | | 141,865 | |
| | | | |
| | | | | | | | | | | 9,240,212 | |
| | | | | | | | | | | | |
| | | | |
| Norway: 1.74% | | | | | | | | | | | | |
Atea ASA (Information Technology, IT Services) | | | | | | | 158,200 | | | | 1,717,607 | |
DnB Nor ASA (Financials, Commercial Banks) | | | | | | | 98,900 | | | | 1,231,787 | |
Statoil ASA (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 61,700 | | | | 1,508,611 | |
Yara International ASA (Materials, Chemicals) | | | | | | | 35,800 | | | | 1,795,546 | |
| | | | |
| | | | | | | | | | | 6,253,551 | |
| | | | | | | | | | | | |
| | | | |
| Poland: 0.97% | | | | | | | | | | | | |
Asseco Poland SA (Information Technology, Software) | | | | | | | 101,800 | | | | 1,402,902 | |
KGHM Polska Miedz SA (Materials, Metals & Mining) « | | | | | | | 36,500 | | | | 2,069,698 | |
| | | | |
| | | | | | | | | | | 3,472,600 | |
| | | | | | | | | | | | |
| | | | |
| Portugal: 0.07% | | | | | | | | | | | | |
Banco BPI SA (Financials, Commercial Banks) † | | | | | | | 245,688 | | | | 258,180 | |
| | | | | | | | | | | | |
| | | | |
| Russia: 2.02% | | | | | | | | | | | | |
Gazprom Neft Sponsored ADR (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 150,014 | | | | 3,438,321 | |
Gazprom Neft Sponsored ADR (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 886 | | | | 20,164 | |
Lukoil ADR (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 60,400 | | | | 3,789,242 | |
| | | | |
| | | | | | | | | | | 7,247,727 | |
| | | | | | | | | | | | |
| | | | |
| Singapore: 0.48% | | | | | | | | | | | | |
United Overseas Bank Limited (Financials, Commercial Banks) | | | | | | | 113,000 | | | | 1,733,049 | |
| | | | | | | | | | | | |
| | | | |
| South Africa: 0.44% | | | | | | | | | | | | |
Exxaro Resources Limited (Materials, Metals & Mining) | | | | | | | 91,400 | | | | 1,587,862 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 75 | |
INTERNATIONAL VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| South Korea: 1.98% | | | | | | | | | | | | |
Industrial Bank of Korea (Financials, Commercial Banks) | | | | | | | 192,500 | | | $ | 2,044,374 | |
SK Telecom Company Limited (Telecommunication Services, Wireless Telecommunication Services) | | | | | | | 22,300 | | | | 3,099,367 | |
Woori Finance Holdings Company Limited (Financials, Commercial Banks) | | | | | | | 212,200 | | | | 1,989,038 | |
| | | | |
| | | | | | | | | | | 7,132,779 | |
| | | | | | | | | | | | |
| | | | |
| Spain: 2.23% | | | | | | | | | | | | |
Banco Bilbao Vizcaya Argentaria SA (Financials, Commercial Banks) | | | | | | | 185,200 | | | | 1,571,384 | |
Banco Espanol de Credito SA (Financials, Commercial Banks) « | | | | | | | 146,100 | | | | 533,739 | |
Banco Santander Central Hispano SA (Financials, Commercial Banks) | | | | | | | 337,200 | | | | 2,593,559 | |
Repsol YPF SA (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 123,800 | | | | 2,626,044 | |
Telefonica SA (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 52,400 | | | | 687,622 | |
| | | | |
| | | | | | | | | | | 8,012,348 | |
| | | | | | | | | | | | |
| | | | |
| Sweden: 1.45% | | | | | | | | | | | | |
Boliden AB (Materials, Metals & Mining) | | | | | | | 169,300 | | | | 2,994,974 | |
Saab AB (Industrials, Aerospace & Defense) | | | | | | | 113,500 | | | | 2,209,150 | |
| | | | |
| | | | | | | | | | | 5,204,124 | |
| | | | | | | | | | | | |
| | | | |
| Switzerland: 5.43% | | | | | | | | | | | | |
Baloise Holding AG (Financials, Insurance) | | | | | | | 28,800 | | | | 2,416,316 | |
Credit Suisse Group AG (Financials, Capital Markets) | | | | | | | 141,700 | | | | 3,354,805 | |
Georg Fischer AG (Industrials, Machinery) | | | | | | | 3,000 | | | | 1,112,010 | |
Novartis AG (Health Care, Pharmaceuticals) | | | | | | | 40,400 | | | | 2,500,205 | |
Roche Holdings AG (Health Care, Pharmaceuticals) | | | | | | | 21,200 | | | | 4,172,742 | |
Swiss Re AG (Financials, Insurance) | | | | | | | 28,900 | | | | 2,081,661 | |
Zurich Financial Services AG (Financials, Insurance) | | | | | | | 15,200 | | | | 3,879,141 | |
| | | | |
| | | | | | | | | | | 19,516,880 | |
| | | | | | | | | | | | |
| | | | |
| Taiwan: 0.33% | | | | | | | | | | | | |
Powertech Technology Incorporated (Information Technology, Semiconductors &
Semiconductor Equipment) | | | | | | | 794,000 | | | | 1,176,489 | |
| | | | | | | | | | | | |
| | | | |
| Thailand: 0.56% | | | | | | | | | | | | |
Bangchak Petroleum plc (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 2,188,900 | | | | 2,032,703 | |
| | | | | | | | | | | | |
| | | | |
| United Kingdom: 19.65% | | | | | | | | | | | | |
Amlin plc (Financials, Insurance) | | | | | | | 279,000 | | | | 1,727,208 | |
AstraZeneca plc (Health Care, Pharmaceuticals) | | | | | | | 140,400 | | | | 6,672,903 | |
Aviva plc (Financials, Insurance) | | | | | | | 314,900 | | | | 1,768,333 | |
BAE Systems plc (Industrials, Aerospace & Defense) | | | | | | | 684,100 | | | | 3,587,310 | |
Barclays plc (Financials, Commercial Banks) | | | | | | | 715,000 | | | | 2,818,023 | |
Bodycote plc (Industrials, Construction & Engineering) | | | | | | | 302,400 | | | | 1,999,007 | |
BP plc (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 609,300 | | | | 4,213,238 | |
BT Group plc (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 1,124,900 | | | | 4,208,276 | |
Chemring Group plc (Industrials, Aerospace & Defense) | | | | | | | 221,686 | | | | 874,084 | |
Cookson Group plc (Utilities, Multi-Utilities) | | | | | | | 145,400 | | | | 1,428,000 | |
Firstgroup plc (Industrials, Road & Rail) | | | | | | | 254,700 | | | | 761,455 | |
GlaxoSmithKline plc (Health Care, Pharmaceuticals) | | | | | | | 57,700 | | | | 1,233,666 | |
Greene King plc (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 93,500 | | | | 916,783 | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 76 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
INTERNATIONAL VALUE PORTFOLIO
| | | | | | | | | | | | | | |
| Security name | | | | | | | Shares | | | Value | |
| | | | | | | | | | | | | | |
| | | | |
| United Kingdom: (continued) | | | | | | | | | | | | | | |
Home Retail Group plc (Consumer Discretionary, Internet & Catalog Retail) « | | | | | | | | | 290,000 | | | $ | 518,985 | |
Inchcape plc (Consumer Discretionary, Distributors) | | | | | | | | | 319,200 | | | | 2,186,774 | |
J Sainsbury plc (Consumer Staples, Food & Staples Retailing) | | | | | | | | | 608,700 | | | | 3,329,432 | |
Kesa Electricals plc (Consumer Discretionary, Specialty Retail) | | | | | | | | | 679,100 | | | | 519,530 | |
Marks & Spencer Group plc (Consumer Discretionary, Multiline Retail) | | | | | | | | | 380,200 | | | | 2,379,292 | |
Marston’s plc (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | | | 632,790 | | | | 1,269,309 | |
Old Mutual plc (Financials, Commercial Banks) | | | | | | | | | 982,800 | | | | 2,697,279 | |
Pace plc (Consumer Discretionary, Household Durables) | | | | | | | | | 374,800 | | | | 1,100,091 | |
Premier Foods plc (Consumer Staples, Food Products) † | | | | | | | | | 31,510 | | | | 48,338 | |
Royal & Sun Alliance Insurance Group plc (Financials, Insurance) | | | | | | | | | 443,900 | | | | 835,654 | |
Royal Dutch Shell plc Class A (Energy, Oil, Gas & Consumable Fuels) | | | | | | | | | 14,300 | | | | 479,267 | |
Royal Dutch Shell plc Class B (Energy, Oil, Gas & Consumable Fuels) | | | | | | | | | 264,000 | | | | 9,112,841 | |
Tesco plc (Consumer Staples, Food & Staples Retailing) | | | | | | | | | 655,700 | | | | 3,415,274 | |
Thomas Cook Group plc (Consumer Discretionary, Hotels, Restaurants & Leisure) † | | | | | | | | | 389,400 | | | | 162,208 | |
Tullett Prebon plc (Financials, Capital Markets) | | | | | | | | | 279,500 | | | | 1,016,061 | |
Vodafone Group plc (Telecommunication Services, Wireless Telecommunication Services) | | | | | | | | | 1,591,600 | | | | 4,109,298 | |
WH Smith plc (Consumer Discretionary, Specialty Retail) | | | | | | | | | 223,600 | | | | 2,328,561 | |
William Morrison Supermarkets plc (Consumer Staples, Food & Staples Retailing) | | | | | | | | | 679,700 | | | | 2,927,183 | |
| | | | |
| | | | | | | | | | | | | 70,643,663 | |
| | | | | | | | | | | | | | |
| | | | |
Total Common Stocks (Cost $388,485,305) | | | | | | | | | | | | | 347,405,311 | |
| | | | | | | | | | | | | | |
| | | | |
| | | | | Dividend yield | | | | | | | |
| | | | |
Preferred Stocks: 1.07% | | | | | | | | | | | | | | |
| | | | |
| Brazil: 1.07% | | | | | | | | | | | | | | |
Banco do Estado do Rio Grande do Sul SA (Financials, Commercial Banks) | | | | | 5.38 | % | | | 173,300 | | | | 1,229,515 | |
Cia Energetica de Minas Gerais (Energy, Oil, Gas & Consumable Fuels) | | | | | 10.30 | | | | 73,900 | | | | 887,782 | |
Companhia Vale do Rio Doce Class A (Materials, Metals & Mining) | | | | | 6.13 | | | | 100,100 | | | | 1,719,239 | |
| | | | |
Total Preferred Stocks (Cost $4,315,416) | | | | | | | | | | | | | 3,836,536 | |
| | | | | | | | | | | | | | |
| | | | |
| | | | | Yield | | | | | | | |
| | | | |
Short-Term Investments: 4.06% | | | | | | | | | | | | | | |
| | | | |
| Investment Companies: 4.06% | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund, Select Class (l)(u) | | | | | 0.16 | | | | 1,479,062 | | | | 1,479,062 | |
Wells Fargo Securities Lending Cash Investments, LLC (l)(u)(r)(v) | | | | | 0.21 | | | | 13,117,922 | | | | 13,117,922 | |
| | | | |
Total Short-Term Investments (Cost $14,596,984) | | | | | | | | | | | | | 14,596,984 | |
| | | | | | | | | | | | | | |
| | | | | | | | |
| Total investments in securities | | | | | | | | |
| (Cost $407,397,705) * | | | 101.75 | % | | | 365,838,831 | |
Other assets and liabilities, net | | | (1.75 | ) | | | (6,275,930 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 359,562,901 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 77 | |
INTERNATIONAL VALUE PORTFOLIO
| † | Non-income-earning security |
| « | All or a portion of this security is on loan. |
| (l) | Investment in an affiliate |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| * | Cost for federal income tax purposes is $408,276,608 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 29,807,775 | |
Gross unrealized depreciation | | | (72,245,552 | ) |
| | | | |
Net unrealized depreciation | | $ | (42,437,777 | ) |
The following table shows the percent of total long-term investments by sector as of Novemebr 30, 2012:
| | | | |
Financials | | | 25.46 | % |
Energy | | | 12.67 | % |
Consumer Discretionary | | | 11.51 | % |
Health Care | | | 10.35 | % |
Industrials | | | 9.52 | % |
Materials | | | 8.29 | % |
Consumer Staples | | | 7.46 | % |
Telecommunication Services | | | 6.69 | % |
Utilities | | | 4.50 | % |
Information Technology | | | 3.55 | % |
| | | | |
| | | 100.00 | % |
| | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 78 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
LARGE COMPANY VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Common Stocks: 94.94% | | | | | | | | | | | | |
| | | | |
Consumer Discretionary: 8.50% | | | | | | | | | | | | |
| | | | |
| Household Durables: 2.65% | | | | | | | | | | | | |
Harman International Industries Incorporated | | | | | | | 10,524 | | | $ | 416,329 | |
Newell Rubbermaid Incorporated | | | | | | | 40,167 | | | | 876,042 | |
| | | | |
| | | | | | | | | | | 1,292,371 | |
| | | | | | | | | | | | |
| | | | |
| Media: 2.90% | | | | | | | | | | | | |
DIRECTV Group Incorporated † | | | | | | | 10,731 | | | | 533,331 | |
Omnicom Group Incorporated « | | | | | | | 6,408 | | | | 318,734 | |
Walt Disney Company | | | | | | | 11,402 | | | | 566,223 | |
| | | | |
| | | | | | | | | | | 1,418,288 | |
| | | | | | | | | | | | |
| | | | |
| Multiline Retail: 1.01% | | | | | | | | | | | | |
Target Corporation | | | | | | | 7,841 | | | | 495,002 | |
| | | | | | | | | | | | |
| | | | |
| Specialty Retail: 1.94% | | | | | | | | | | | | |
Home Depot Incorporated | | | | | | | 14,531 | | | | 945,532 | |
| | | | | | | | | | | | |
| | | | |
Consumer Staples: 6.03% | | | | | | | | | | | | |
| | | | |
| Beverages: 1.46% | | | | | | | | | | | | |
PepsiCo Incorporated | | | | | | | 10,171 | | | | 714,106 | |
| | | | | | | | | | | | |
| | | | |
| Food & Staples Retailing: 2.10% | | | | | | | | | | | | |
CVS Caremark Corporation | | | | | | | 22,063 | | | | 1,026,150 | |
| | | | | | | | | | | | |
| | | | |
| Household Products: 2.47% | | | | | | | | | | | | |
Procter & Gamble Company | | | | | | | 17,253 | | | | 1,204,777 | |
| | | | | | | | | | | | |
| | | | |
Energy: 14.62% | | | | | | | | | | | | |
| | | | |
| Energy Equipment & Services: 1.25% | | | | | | | | | | | | |
Noble Corporation | | | | | | | 17,691 | | | | 610,163 | |
| | | | | | | | | | | | |
| | | | |
| Oil, Gas & Consumable Fuels: 13.37% | | | | | | | | | | | | |
Apache Corporation « | | | | | | | 5,895 | | | | 454,446 | |
Chevron Corporation | | | | | | | 12,434 | | | | 1,314,149 | |
ConocoPhillips Company | | | | | | | 11,730 | | | | 667,906 | |
Devon Energy Corporation | | | | | | | 10,232 | | | | 528,687 | |
Exxon Mobil Corporation | | | | | | | 33,416 | | | | 2,945,286 | |
Whiting Petroleum Corporation † | | | | | | | 14,848 | | | | 622,725 | |
| | | | |
| | | | | | | | | | | 6,533,199 | |
| | | | | | | | | | | | |
| | | | |
Financials: 24.63% | | | | | | | | | | | | |
| | | | |
| Capital Markets: 2.04% | | | | | | | | | | | | |
Goldman Sachs Group Incorporated | | | | | | | 4,061 | | | | 478,345 | |
State Street Corporation | | | | | | | 11,653 | | | | 517,859 | |
| | | | |
| | | | | | | | | | | 996,204 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 79 | |
LARGE COMPANY VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Commercial Banks: 4.64% | | | | | | | | | | | | |
Comerica Incorporated | | | | | | | 25,495 | | | $ | 754,397 | |
First Republic Bank Corporation | | | | | | | 22,380 | | | | 756,892 | |
KeyCorp | | | | | | | 93,803 | | | | 757,928 | |
| | | | |
| | | | | | | | | | | 2,269,217 | |
| | | | | | | | | | | | |
| | | | |
| Consumer Finance: 2.65% | | | | | | | | | | | | |
Capital One Financial Corporation | | | | | | | 13,545 | | | | 780,192 | |
SLM Corporation | | | | | | | 31,026 | | | | 513,480 | |
| | | | |
| | | | | | | | | | | 1,293,672 | |
| | | | | | | | | | | | |
| | | | |
| Diversified Financial Services: 5.29% | | | | | | | | | | | | |
Bank of America Corporation | | | | | | | 65,495 | | | | 645,781 | |
Citigroup Incorporated | | | | | | | 17,911 | | | | 619,183 | |
JPMorgan Chase & Company | | | | | | | 32,137 | | | | 1,320,188 | |
| | | | |
| | | | | | | | | | | 2,585,152 | |
| | | | | | | | | | | | |
| | | | |
| Insurance: 6.52% | | | | | | | | | | | | |
ACE Limited | | | | | | | 12,234 | | | | 969,300 | |
American International Group Incorporated † | | | | | | | 14,489 | | | | 480,021 | |
MetLife Incorporated | | | | | | | 22,791 | | | | 756,433 | |
The Hartford Financial Services Group Incorporated | | | | | | | 22,174 | | | | 469,645 | |
The Travelers Companies Incorporated | | | | | | | 7,180 | | | | 508,488 | |
| | | | |
| | | | | | | | | | | 3,183,887 | |
| | | | | | | | | | | | |
| | | | |
| REITs: 3.49% | | | | | | | | | | | | |
American Campus Communities Incorporated | | | | | | | 15,542 | | | | 680,740 | |
Simon Property Group Incorporated | | | | | | | 6,720 | | | | 1,022,314 | |
| | | | |
| | | | | | | | | | | 1,703,054 | |
| | | | | | | | | | | | |
| | | | |
Health Care: 12.12% | | | | | | | | | | | | |
| | | | |
| Health Care Equipment & Supplies: 1.92% | | | | | | | | | | | | |
Medtronic Incorporated | | | | | | | 11,502 | | | | 484,349 | |
Stryker Corporation | | | | | | | 8,390 | | | | 454,402 | |
| | | | |
| | | | | | | | | | | 938,751 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Providers & Services: 2.17% | | | | | | | | | | | | |
CIGNA Corporation | | | | | | | 20,305 | | | | 1,061,342 | |
| | | | | | | | | | | | |
| | | | |
| Pharmaceuticals: 8.03% | | | | | | | | | | | | |
Hospira Incorporated † | | | | | | | 20,237 | | | | 603,063 | |
Johnson & Johnson Services Incorporated « | | | | | | | 14,818 | | | | 1,033,259 | |
Merck & Company Incorporated | | | | | | | 13,716 | | | | 607,619 | |
Pfizer Incorporated | | | | | | | 50,571 | | | | 1,265,286 | |
Teva Pharmaceutical Industries Limited ADR | | | | | | | 10,166 | | | | 410,198 | |
| | | | |
| | | | | | | | | | | 3,919,425 | |
| | | | | | | | | | | | |
| | | | |
Industrials: 9.34% | | | | | | | | | | | | |
| | | | |
| Airlines: 0.95% | | | | | | | | | | | | |
Southwest Airlines Company | | | | | | | 48,721 | | | | 464,311 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 80 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
LARGE COMPANY VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Commercial Services & Supplies: 1.17% | | | | | | | | | | | | |
Waste Management Incorporated | | | | | | | 17,589 | | | $ | 572,874 | |
| | | | | | | | | | | | |
| | | | |
| Construction & Engineering: 0.97% | | | | | | | | | | | | |
URS Corporation | | | | | | | 12,521 | | | | 471,791 | |
| | | | | | | | | | | | |
| | | | |
| Industrial Conglomerates: 3.68% | | | | | | | | | | | | |
General Electric Company | | | | | | | 85,137 | | | | 1,798,945 | |
| | | | | | | | | | | | |
| | | | |
| Machinery: 1.78% | | | | | | | | | | | | |
Dover Corporation | | | | | | | 5,534 | | | | 351,907 | |
Eaton Corporation « | | | | | | | 9,946 | | | | 518,783 | |
| | | | |
| | | | | | | | | | | 870,690 | |
| | | | | | | | | | | | |
| | | | |
| Road & Rail: 0.79% | | | | | | | | | | | | |
Norfolk Southern Corporation | | | | | | | 6,385 | | | | 385,526 | |
| | | | | | | | | | | | |
| | | | |
Information Technology: 7.47% | | | | | | | | | | | | |
| | | | |
| Communications Equipment: 1.72% | | | | | | | | | | | | |
Cisco Systems Incorporated | | | | | | | 44,277 | | | | 837,278 | |
| | | | | | | | | | | | |
| | | | |
| Computers & Peripherals: 2.28% | | | | | | | | | | | | |
Apple Incorporated | | | | | | | 866 | | | | 506,852 | |
EMC Corporation † | | | | | | | 17,483 | | | | 433,928 | |
Hewlett-Packard Company | | | | | | | 13,115 | | | | 170,364 | |
| | | | |
| | | | | | | | | | | 1,111,144 | |
| | | | | | | | | | | | |
| | | | |
| Internet Software & Services: 0.50% | | | | | | | | | | | | |
Google Incorporated Class A † | | | | | | | 349 | | | | 243,731 | |
| | | | | | | | | | | | |
| | | | |
| IT Services: 1.00% | | | | | | | | | | | | |
VeriFone Systems Incorporated Ǡ | | | | | | | 16,139 | | | | 490,464 | |
| | | | | | | | | | | | |
| | | | |
| Semiconductors & Semiconductor Equipment: 1.29% | | | | | | | | | | | | |
Maxim Integrated Products Incorporated | | | | | | | 21,615 | | | | 630,942 | |
| | | | | | | | | | | | |
| | | | |
| Software: 0.68% | | | | | | | | | | | | |
Symantec Corporation † | | | | | | | 17,807 | | | | 334,059 | |
| | | | | | | | | | | | |
| | | | |
Materials: 2.93% | | | | | | | | | | | | |
| | | | |
| Chemicals: 2.19% | | | | | | | | | | | | |
Ashland Incorporated | | | | | | | 9,786 | | | | 694,023 | |
Dow Chemical Company | | | | | | | 12,460 | | | | 376,167 | |
| | | | |
| | | | | | | | | | | 1,070,190 | |
| | | | | | | | | | | | |
| | | | |
| Metals & Mining: 0.74% | | | | | | | | | | | | |
Alcoa Incorporated « | | | | | | | 42,644 | | | | 358,636 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 81 | |
LARGE COMPANY VALUE PORTFOLIO
| | | | | | | | | | | | | | |
| Security name | | | | | | | Shares | | | Value | |
| | | | | | | | | | | | | | |
| | | | |
Telecommunication Services: 2.79% | | | | | | | | | | | | | | |
| | | | |
| Diversified Telecommunication Services: 2.79% | | | | | | | | | | | | | | |
AT&T Incorporated | | | | | | | | | 30,104 | | | $ | 1,027,450 | |
Verizon Communications Incorporated | | | | | | | | | 7,650 | | | | 337,518 | |
| | | | |
| | | | | | | | | | | | | 1,364,968 | |
| | | | | | | | | | | | | | |
| | | | |
Utilities: 6.51% | | | | | | | | | | | | | | |
| | | | |
| Electric Utilities: 2.26% | | | | | | | | | | | | | | |
Duke Energy Corporation | | | | | | | | | 7,191 | | | | 458,930 | |
Entergy Corporation | | | | | | | | | 10,176 | | | | 646,583 | |
| | | | |
| | | | | | | | | | | | | 1,105,513 | |
| | | | | | | | | | | | | | |
| | | | |
| Multi-Utilities: 2.75% | | | | | | | | | | | | | | |
Dominion Resources Incorporated « | | | | | | | | | 12,533 | | | | 640,562 | |
NiSource Incorporated « | | | | | | | | | 29,017 | | | | 701,341 | |
| | | | |
| | | | | | | | | | | | | 1,341,903 | |
| | | | | | | | | | | | | | |
| | | | |
| Water Utilities: 1.50% | | | | | | | | | | | | | | |
American Water Works Company Incorporated | | | | | | | | | 19,159 | | | | 731,302 | |
| | | | | | | | | | | | | | |
| | | | |
Total Common Stocks (Cost $41,070,714) | | | | | | | | | | | | | 46,374,559 | |
| | | | | | | | | | | | | | |
| | | | |
| | | | | | | | Principal | | | | |
| | | | |
Other: 0.06% | | | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (a)(i)(v) | | | | | | | | $ | 91,312 | | | | 30,133 | |
| | | | |
Total Other (Cost $8,652) | | | | | | | | | | | | | 30,133 | |
| | | | | | | | | | | | | | |
| | | | |
| | | Yield | | | | | Shares | | | | |
| | | | |
Short-Term Investments: 12.43% | | | | | | | | | | | | | | |
| | | | |
| Investment Companies: 12.43% | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund, Select Class (l)(u) | | | 0.16 | % | | | | | 2,060,814 | | | | 2,060,814 | |
Wells Fargo Securities Lending Cash Investments, LLC (l)(r)(u)(v) | | | 0.21 | | | | | | 4,010,623 | | | | 4,010,623 | |
| | | | | | | | | | | | | | |
| | | | |
Total Short-Term Investments (Cost $6,071,437) | | | | | | | | | | | | | 6,071,437 | |
| | | | | | | | | | | | | | |
| | | | | | | | |
| Total investments in securities | | | | | | | | |
| (Cost $47,150,803)* | | | 107.43 | % | | | 52,476,129 | |
Other assets and liabilities, net | | | (7.43 | ) | | | (3,628,335 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 48,847,794 | |
| | | | | | | | |
| † | Non-income-earning security |
| « | All or a portion of this security is on loan. |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| (l) | Investment in an affiliate |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| * | Cost for federal income tax purposes is $48,370,511 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 4,876,212 | |
Gross unrealized depreciation | | | (770,594 | ) |
| | | | |
Net unrealized appreciation | | $ | 4,105,618 | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 82 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
SMALL CAP VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Common Stocks: 93.70% | | | | | | | | | | | | |
| | | | |
Consumer Discretionary: 7.35% | | | | | | | | | | | | |
| | | | |
| Auto Components: 1.45% | | | | | | | | | | | | |
Gentex Corporation | | | | | | | 13,508 | | | $ | 239,767 | |
| | | | | | | | | | | | |
| | | | |
| Diversified Consumer Services: 0.59% | | | | | | | | | | | | |
Cambium Learning Group Incorporated † | | | | | | | 19,495 | | | | 18,130 | |
Corinthian Colleges Incorporated † | | | | | | | 35,405 | | | | 78,599 | |
Voyager Expanded Learning Incorporated †(a)(i) | | | | | | | 58,950 | | | | 0 | |
| | | | |
| | | | | | | | | | | 96,729 | |
| | | | | | | | | | | | |
| | | | |
| Hotels, Restaurants & Leisure: 2.02% | | | | | | | | | | | | |
Century Casinos Incorporated † | | | | | | | 67,136 | | | | 177,910 | |
Empire Resorts Incorporated † | | | | | | | 13,855 | | | | 25,632 | |
Scientific Games Corporation Class A † | | | | | | | 15,475 | | | | 128,907 | |
| | | | |
| | | | | | | | | | | 332,449 | |
| | | | | | | | | | | | |
| | | | |
| Household Durables: 2.54% | | | | | | | | | | | | |
Cavco Industries Incorporated † | | | | | | | 5,150 | | | | 265,225 | |
KB Home Incorporated | | | | | | | 930 | | | | 13,355 | |
Nobility Homes Incorporated † | | | | | | | 21,085 | | | | 115,968 | |
Skyline Corporation † | | | | | | | 6,042 | | | | 24,772 | |
| | | | |
| | | | | | | | | | | 419,320 | |
| | | | | | | | | | | | |
| | | | |
| Media: 0.50% | | | | | | | | | | | | |
Outdoor Channel Holdings Incorporated | | | | | | | 11,145 | | | | 82,807 | |
| | | | | | | | | | | | |
| | | | |
| Specialty Retail: 0.25% | | | | | | | | | | | | |
rue21 Incorporated † | | | | | | | 1,413 | | | | 40,567 | |
| | | | | | | | | | | | |
| | | | |
Consumer Staples: 1.27% | | | | | | | | | | | | |
| | | | |
| Household Products: 0.45% | | | | | | | | | | | | |
WD-40 Company | | | | | | | 1,550 | | | | 73,222 | |
| | | | | | | | | | | | |
| | | | |
| Personal Products: 0.82% | | | | | | | | | | | | |
Prestige Brands Holdings Incorporated † | | | | | | | 6,264 | | | | 135,302 | |
| | | | | | | | | | | | |
| | | | |
Energy: 17.84% | | | | | | | | | | | | |
| | | | |
| Energy Equipment & Services: 7.79% | | | | | | | | | | | | |
Helix Energy Solutions Group Incorporated † | | | | | | | 9,433 | | | | 165,172 | |
Helmerich & Payne Incorporated | | | | | | | 1,245 | | | | 64,989 | |
ION Geophysical Corporation † | | | | | | | 27,715 | | | | 165,181 | |
Key Energy Services Incorporated † | | | | | | | 9,399 | | | | 62,879 | |
Matrix Service Company † | | | | | | | 20,824 | | | | 228,439 | |
Newpark Resources Incorporated † | | | | | | | 32,338 | | | | 252,236 | |
Oceaneering International Incorporated | | | | | | | 2,275 | | | | 119,847 | |
PHI Incorporated (non-voting) † | | | | | | | 2,718 | | | | 85,155 | |
PHI Incorporated (voting) † | | | | | | | 2,392 | | | | 71,880 | |
Willbros Group Incorporated † | | | | | | | 13,779 | | | | 69,308 | |
| | | | |
| | | | | | | | | | | 1,285,086 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 83 | |
SMALL CAP VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Oil, Gas & Consumable Fuels: 10.05% | | | | | | | | | | | | |
Clean Energy Fuels Corporation † | | | | | | | 2,865 | | | $ | 37,990 | |
Energy XXI (Bermuda) Limited | | | | | | | 845 | | | | 26,770 | |
Forest Oil Corporation † | | | | | | | 5,735 | | | | 36,532 | |
InterOil Corporation † | | | | | | | 15,940 | | | | 887,220 | |
McMoRan Exploration Company † | | | | | | | 33,174 | | | | 282,974 | |
PetroQuest Energy Incorporated † | | | | | | | 1,415 | | | | 7,542 | |
Range Resources Corporation | | | | | | | 4,160 | | | | 266,323 | |
Triangle Petroleum Corporation † | | | | | | | 17,763 | | | | 111,019 | |
| | | | |
| | | | | | | | | | | 1,656,370 | |
| | | | | | | | | | | | |
| | | | |
Financials: 18.62% | | | | | | | | | | | | |
| | | | |
| Capital Markets: 0.54% | | | | | | | | | | | | |
Artio Global Investors Incorporated | | | | | | | 39,225 | | | | 88,649 | |
| | | | | | | | | | | | |
| | | | |
| Commercial Banks: 4.53% | | | | | | | | | | | | |
1st United Bancorp Incorporated † | | | | | | | 12,625 | | | | 71,710 | |
Bancorp Incorporated † | | | | | | | 6,450 | | | | 75,207 | |
BBCN Bancorp Incorporated | | | | | | | 3,393 | | | | 38,612 | |
City National Corporation | | | | | | | 1,160 | | | | 56,480 | |
First Horizon National Corporation | | | | | | | 8,735 | | | | 82,633 | |
First Niagara Financial Group Incorporated | | | | | | | 18,858 | | | | 142,189 | |
IBERIABANK Corporation | | | | | | | 1,235 | | | | 60,206 | |
Pacific Premier Bancorp Incorporated † | | | | | | | 10,811 | | | | 112,867 | |
Park Sterling Corporation † | | | | | | | 4,160 | | | | 21,840 | |
Sterling Bancorp | | | | | | | 5,400 | | | | 50,220 | |
Univest Corporation of Pennsylvania | | | | | | | 2,039 | | | | 34,296 | |
| | | | |
| | | | | | | | | | | 746,260 | |
| | | | | | | | | | | | |
| | | | |
| Insurance: 3.18% | | | | | | | | | | | | |
Argo Group International Holdings Limited | | | | | | | 9,780 | | | | 324,598 | |
Hilltop Holdings Incorporated † | | | | | | | 8,436 | | | | 120,550 | |
Mercury General Corporation | | | | | | | 1,915 | | | | 79,702 | |
| | | | |
| | | | | | | | | | | 524,850 | |
| | | | | | | | | | | | |
| | | | |
| REITs: 10.26% | | | | | | | | | | | | |
Anworth Mortgage Asset Corporation | | | | | | | 12,250 | | | | 72,275 | |
Capstead Mortgage Corporation | | | | | | | 13,380 | | | | 162,433 | |
Chimera Investment Corporation | | | | | | | 192,610 | | | | 527,751 | |
Crexus Investment Corporation | | | | | | | 14,792 | | | | 184,752 | |
Hatteras Financial Corporation | | | | | | | 4,205 | | | | 112,105 | |
MFA Mortgage Investments Incorporated | | | | | | | 19,785 | | | | 166,392 | |
Origen Financial Incorporated | | | | | | | 58,585 | | | | 87,878 | |
Redwood Trust Incorporated | | | | | | | 9,121 | | | | 152,503 | |
UMH Properties Incorporated | | | | | | | 22,257 | | | | 225,463 | |
| | | | |
| | | | | | | | | | | 1,691,552 | |
| | | | | | | | | | | | |
| | | | |
| Thrifts & Mortgage Finance: 0.11% | | | | | | | | | | | | |
Northwest Bancshares Incorporated | | | | | | | 1,600 | | | | 19,088 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 84 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
SMALL CAP VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Health Care: 8.48% | | | | | | | | | | | | |
| | | | |
| Biotechnology: 1.67% | | | | | | | | | | | | |
Amarin Corporation plc ADR † | | | | | | | 7,205 | | | $ | 89,414 | |
Discovery Laboratories Incorporated † | | | | | | | 72,358 | | | | 155,570 | |
Infinity Pharmaceuticals Incorporated † | | | | | | | 1,190 | | | | 30,167 | |
| | | | |
| | | | | | | | | | | 275,151 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Equipment & Supplies: 3.05% | | | | | | | | | | | | |
Allied Healthcare Products Incorporated † | | | | | | | 32,480 | | | | 82,824 | |
EnteroMedics Incorporated † | | | | | | | 29,132 | | | | 90,309 | |
OraSure Technologies Incorporated † | | | | | | | 42,774 | | | | 329,360 | |
| | | | |
| | | | | | | | | | | 502,493 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Providers & Services: 2.11% | | | | | | | | | | | | |
Cross Country Healthcare Incorporated † | | | | | | | 15,182 | | | | 60,880 | |
Ensign Group Incorporated | | | | | | | 3,290 | | | | 84,849 | |
Gentiva Health Services Incorporated † | | | | | | | 11,258 | | | | 115,957 | |
Healthcare Services Group | | | | | | | 3,702 | | | | 87,071 | |
| | | | |
| | | | | | | | | | | 348,757 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Technology: 1.38% | | | | | | | | | | | | |
Allscripts Healthcare Solutions Incorporated † | | | | | | | 10,963 | | | | 121,909 | |
Omnicell Incorporated † | | | | | | | 6,935 | | | | 105,897 | |
| | | | |
| | | | | | | | | | | 227,806 | |
| | | | | | | | | | | | |
| | | | |
| Life Sciences Tools & Services: 0.27% | | | | | | | | | | | | |
Nordion Incorporated | | | | | | | 6,660 | | | | 43,956 | |
| | | | | | | | | | | | |
| | | | |
Industrials: 14.50% | | | | | | | | | | | | |
| | | | |
| Air Freight & Logistics: 0.28% | | | | | | | | | | | | |
Pacer International Incorporated † | | | | | | | 13,342 | | | | 46,297 | |
| | | | | | | | | | | | |
| | | | |
| Airlines: 0.82% | | | | | | | | | | | | |
JetBlue Airways Corporation † | | | | | | | 26,186 | | | | 134,596 | |
| | | | | | | | | | | | |
| | | | |
| Building Products: 0.31% | | | | | | | | | | | | |
Patrick Industries Incorporated † | | | | | | | 2,910 | | | | 50,576 | |
| | | | | | | | | | | | |
| | | | |
| Commercial Services & Supplies: 4.40% | | | | | | | | | | | | |
ABM Industries Incorporated | | | | | | | 10,583 | | | | 201,924 | |
ACCO Brands Corporation † | | | | | | | 50,080 | | | | 337,539 | |
GEO Group Incorporated | | | | | | | 6,615 | | | | 186,543 | |
| | | | |
| | | | | | | | | | | 726,006 | |
| | | | | | | | | | | | |
| | | | |
| Construction & Engineering: 5.34% | | | | | | | | | | | | |
Chicago Bridge & Iron Company NV | | | | | | | 4,990 | | | | 202,744 | |
Integrated Electrical Services Incorporated † | | | | | | | 24,302 | | | | 110,574 | |
MYR Group Incorporated † | | | | | | | 9,020 | | | | 193,389 | |
Primoris Services Corporation | | | | | | | 19,401 | | | | 280,926 | |
Sterling Construction Company Incorporated † | | | | | | | 10,130 | | | | 93,500 | |
| | | | |
| | | | | | | | | | | 881,133 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 85 | |
SMALL CAP VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Electrical Equipment: 0.54% | | | | | | | | | | | | |
GrafTech International Limited † | | | | | | | 9,196 | | | $ | 89,201 | |
| | | | | | | | | | | | |
| | | | |
| Machinery: 1.56% | | | | | | | | | | | | |
Actuant Corporation Class A | | | | | | | 3,900 | | | | 112,203 | |
Hardinge Incorporated | | | | | | | 15,033 | | | | 144,166 | |
| | | | |
| | | | | | | | | | | 256,369 | |
| | | | | | | | | | | | |
| | | | |
| Professional Services: 1.25% | | | | | | | | | | | | |
Hill International Incorporated † | | | | | | | 59,307 | | | | 206,388 | |
| | | | | | | | | | | | |
| | | | |
Information Technology: 9.83% | | | | | | | | | | | | |
| | | | |
| Communications Equipment: 2.12% | | | | | | | | | | | | |
Brocade Communications Systems Incorporated † | | | | | | | 15,275 | | | | 86,762 | |
MRV Communications Incorporated | | | | | | | 12,340 | | | | 6,293 | |
Sandvine Corporation † | | | | | | | 154,135 | | | | 201,686 | |
Tellabs Incorporated | | | | | | | 15,400 | | | | 54,824 | |
| | | | |
| | | | | | | | | | | 349,565 | |
| | | | | | | | | | | | |
| | | | |
| Computers & Peripherals: 2.76% | | | | | | | | | | | | |
Cray Incorporated † | | | | | | | 15,350 | | | | 218,277 | |
Intermec Incorporated † | | | | | | | 21,234 | | | | 160,317 | |
Lexmark International Incorporated | | | | | | | 3,165 | | | | 77,004 | |
| | | | |
| | | | | | | | | | | 455,598 | |
| | | | | | | | | | | | |
| | | | |
| Electronic Equipment, Instruments & Components: 2.72% | | | | | | | | | | | | |
Coherent Incorporated † | | | | | | | 4,003 | | | | 185,139 | |
OSI Systems Incorporated † | | | | | | | 3,565 | | | | 218,463 | |
Power One Incorporated † | | | | | | | 10,590 | | | | 43,949 | |
| | | | |
| | | | | | | | | | | 447,551 | |
| | | | | | | | | | | | |
| | | | |
| IT Services: 1.64% | | | | | | | | | | | | |
Official Payments Holdings Incorporated † | | | | | | | 53,220 | | | | 270,890 | |
| | | | | | | | | | | | |
| | | | |
| Software: 0.59% | | | | | | | | | | | | |
Accelrys Incorporated † | | | | | | | 11,075 | | | | 97,571 | |
| | | | | | | | | | | | |
| | | | |
Materials: 14.60% | | | | | | | | | | | | |
| | | | |
| Containers & Packaging: 0.29% | | | | | | | | | | | | |
Intertape Polymer Group Incorporated | | | | | | | 5,810 | | | | 47,410 | |
| | | | | | | | | | | | |
| | | | |
| Metals & Mining: 13.92% | | | | | | | | | | | | |
Eldorado Gold Corporation | | | | | | | 7,915 | | | | 114,609 | |
Goldcorp Incorporated | | | | | | | 5,175 | | | | 200,273 | |
Great Basin Gold Limited †(a)(i) | | | | | | | 97,638 | | | | 0 | |
Randgold Resources Limited ADR | | | | | | | 8,133 | | | | 873,159 | |
Royal Gold Incorporated | | | | | | | 3,195 | | | | 258,028 | |
San Gold Corporation † | | | | | | | 32,830 | | | | 27,876 | |
Sandstorm Gold Limited † | | | | | | | 30,435 | | | | 373,180 | |
Sandstorm Metals & Energy Limited † | | | | | | | 253,515 | | | | 126,330 | |
Silver Standard Resources Incorporated † | | | | | | | 13,249 | | | | 178,862 | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 86 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
SMALL CAP VALUE PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | | | | | | | Shares | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
| Metals & Mining (continued) | | | | | | | | | | | | | | | | |
Steel Dynamics Incorporated | | | | | | | | | | | 3,003 | | | $ | 38,799 | |
United States Steel Corporation | | | | | | | | | | | 4,795 | | | | 103,380 | |
| | | | |
| | | | | | | | | | | | | | | 2,294,496 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Paper & Forest Products: 0.39% | | | | | | | | | | | | | | | | |
Wausau Paper Corporation | | | | | | | | | | | 7,652 | | | | 64,200 | |
| | | | | | | | | | | | | | | | |
| | | | |
Telecommunication Services: 1.21% | | | | | | | | | | | | | | | | |
| | | | |
| Diversified Telecommunication Services: 1.21% | | | | | | | | | | | | | | | | |
Cincinnati Bell Incorporated † | | | | | | | | | | | 37,395 | | | | 199,318 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Common Stocks (Cost $10,521,497) | | | | | | | | | | | | | | | 15,447,346 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Investment Companies: 2.21% | | | | | | | | | | | | | | | | |
KBW Regional Banking ETF | | | | | | | | | | | 1,036 | | | | 28,573 | |
Market Vectors Junior Gold Miners ETF | | | | | | | | | | | 15,534 | | | | 334,913 | |
| | | | |
Total Investment Companies (Cost $364,703) | | | | | | | | | | | | | | | 363,486 | |
| | | | | | | | | | | | | | | | |
| | | | | | Expiration date | | | | | | | |
| | | | |
Warrants: 0.26% | | | | | | | | | | | | | | | | |
| | | | |
Health Care: 0.26% | | | | | | | | | | | | | | | | |
| | | | |
| Health Care Equipment & Supplies: 0.26% | | | | | | | | | | | | | | | | |
EnteroMedics Incorporated †(a)(i) | | | | | | | 5-14-16 | | | | 9,104 | | | | 14,348 | |
Enteromedics Incorporated †(a)(i) | | | | | | | 9-28-16 | | | | 16,376 | | | | 28,925 | |
| | | | |
Total Warrants (Cost $0) | | | | | | | | | | | | | | | 43,273 | |
| | | | | | | | | | | | | | | | |
| | | Yield | | | | | | | | | | |
| | | | |
Short-Term Investments: 3.69% | | | | | | | | | | | | | | | | |
| | | | |
| Investment Companies: 3.69% | | | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund, Select Class (l)(u) | | | 0.16 | % | | | | | | | 608,030 | | | | 608,030 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Short-Term Investments (Cost $608,030) | | | | | | | | | | | | | | | 608,030 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | |
Total investments in securities (Cost $11,494,230)* | | | 99.86 | % | | | 16,462,135 | |
Other assets and liabilities, net | | | 0.14 | | | | 23,384 | |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 16,485,519 | |
| | | | | | | | |
| † | Non-income-earning security |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| (l) | Investment in an affiliate |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| * | Cost for federal income tax purposes is $12,488,601 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 4,695,713 | |
Gross unrealized depreciation | | | (722,179 | ) |
| | | | |
Net unrealized appreciation | | $ | 3,973,534 | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 87 | |
SMALL COMPANY GROWTH PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Common Stocks: 96.31% | | | | | | | | | | | | |
| | | | |
Consumer Discretionary: 14.27% | | | | | | | | | | | | |
| | | | |
| Hotels, Restaurants & Leisure: 1.32% | | | | | | | | | | | | |
Caribou Coffee Company Incorporated †« | | | | | | | 40,190 | | | $ | 484,290 | |
Ryman Hospitality Properties Incorporated « | | | | | | | 38,190 | | | | 1,268,672 | |
| | | | |
| | | | | | | | | | | 1,752,962 | |
| | | | | | | | | | | | |
| | | | |
| Household Durables: 1.06% | | | | | | | | | | | | |
Ethan Allen Interiors Incorporated « | | | | | | | 48,180 | | | | 1,397,702 | |
| | | | | | | | | | | | |
| | | | |
| Leisure Equipment & Products: 0.75% | | | | | | | | | | | | |
Brunswick Corporation | | | | | | | 38,490 | | | | 991,887 | |
| | | | | | | | | | | | |
| | | | |
| Media: 2.85% | | | | | | | | | | | | |
Arbitron Incorporated « | | | | | | | 34,430 | | | | 1,252,219 | |
IMAX Corporation † | | | | | | | 54,040 | | | | 1,169,966 | |
Lions Gate Entertainment Corporation † | | | | | | | 82,880 | | | | 1,357,574 | |
| | | | |
| | | | | | | | | | | 3,779,759 | |
| | | | | | | | | | | | |
| | | | |
| Specialty Retail: 6.76% | | | | | | | | | | | | |
Cabela’s Incorporated †« | | | | | | | 23,000 | | | | 1,098,710 | |
Chico’s FAS Incorporated | | | | | | | 44,600 | | | | 831,790 | |
Dick’s Sporting Goods Incorporated « | | | | | | | 27,650 | | | | 1,451,902 | |
Finish Line Incorporated | | | | | | | 60,820 | | | | 1,254,717 | |
GNC Holdings Incorporated Class A | | | | | | | 39,630 | | | | 1,392,202 | |
Mattress Firm Holding Corporation †« | | | | | | | 33,110 | | | | 947,277 | |
rue21 Incorporated †« | | | | | | | 20,820 | | | | 597,742 | |
Sonic Automotive Incorporated « | | | | | | | 70,140 | | | | 1,384,564 | |
| | | | |
| | | | | | | | | | | 8,958,904 | |
| | | | | | | | | | | | |
| | | | |
| Textiles, Apparel & Luxury Goods: 1.53% | | | | | | | | | | | | |
Hanesbrands Incorporated †« | | | | | | | 56,130 | | | | 2,026,293 | |
| | | | | | | | | | | | |
| | | | |
Energy: 5.86% | | | | | | | | | | | | |
| | | | |
| Energy Equipment & Services: 2.14% | | | | | | | | | | | | |
Geospace Technologies Corporation †« | | | | | | | 12,940 | | | | 985,640 | |
McDermott International Incorporated †« | | | | | | | 104,570 | | | | 1,101,122 | |
Pacific Drilling SA † | | | | | | | 79,390 | | | | 754,205 | |
| | | | |
| | | | | | | | | | | 2,840,967 | |
| | | | | | | | | | | | |
| | | | |
| Oil, Gas & Consumable Fuels: 3.72% | | | | | | | | | | | | |
Energy XXI (Bermuda) Limited « | | | | | | | 47,650 | | | | 1,509,552 | |
GasLog Limited « | | | | | | | 66,100 | | | | 812,369 | |
Gulfport Energy Corporation † | | | | | | | 34,830 | | | | 1,324,933 | |
Rosetta Resources Incorporated † | | | | | | | 28,470 | | | | 1,279,442 | |
| | | | |
| | | | | | | | | | | 4,926,296 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 88 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
SMALL COMPANY GROWTH PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Financials: 10.83% | | | | | | | | | | | | |
| | | | |
| Capital Markets: 5.14% | | | | | | | | | | | | |
Evercore Partners Incorporated Class A | | | | | | | 55,400 | | | $ | 1,521,838 | |
LPL Financial Holdings Incorporated | | | | | | | 46,470 | | | | 1,301,625 | |
Medley Capital Corporation | | | | | | | 72,660 | | | | 990,356 | |
New Mountain Finance Corporation | | | | | | | 57,055 | | | | 866,095 | |
Stifel Financial Corporation †« | | | | | | | 40,650 | | | | 1,236,573 | |
Walter Investment Management †« | | | | | | | 21,010 | | | | 888,303 | |
| | | | |
| | | | | | | | | | | 6,804,790 | |
| | | | | | | | | | | | |
| | | | |
| Commercial Banks: 3.22% | | | | | | | | | | | | |
Capital Bank Financial Corporation Class A † | | | | | | | 50,480 | | | | 871,285 | |
CapitalSource Incorporated | | | | | | | 150,450 | | | | 1,211,123 | |
Signature Bank †« | | | | | | | 12,900 | | | | 905,064 | |
SVB Financial Group † | | | | | | | 23,190 | | | | 1,280,552 | |
| | | | |
| | | | | | | | | | | 4,268,024 | |
| | | | | | | | | | | | |
| | | | |
| Consumer Finance: 0.81% | | | | | | | | | | | | |
DFC Global Corporation †« | | | | | | | 61,940 | | | | 1,080,853 | |
| | | | | | | | | | | | |
| | | | |
| Insurance: 1.08% | | | | | | | | | | | | |
Argo Group International Holdings Limited | | | | | | | 43,140 | | | | 1,431,817 | |
| | | | | | | | | | | | |
| | | | |
| Real Estate Management & Development: 0.58% | | | | | | | | | | | | |
Zillow Incorporated Class A †« | | | | | | | 27,740 | | | | 763,405 | |
| | | | | | | | | | | | |
| | | | |
Health Care: 16.57% | | | | | | | | | | | | |
| | | | |
| Biotechnology: 2.80% | | | | | | | | | | | | |
Alnylam Pharmaceuticals Incorporated †« | | | | | | | 60,720 | | | | 1,030,418 | |
Curis Incorporated †« | | | | | | | 117,330 | | | | 393,056 | |
Exelixis Incorporated †« | | | | | | | 177,140 | | | | 866,215 | |
InterMune Incorporated †« | | | | | | | 83,460 | | | | 764,494 | |
Seattle Genetics Incorporated †« | | | | | | | 26,120 | | | | 661,097 | |
| | | | |
| | | | | | | | | | | 3,715,280 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Equipment & Supplies: 5.43% | | | | | | | | | | | | |
Cerus Corporation †« | | | | | | | 269,260 | | | | 869,710 | |
DexCom Incorporated †« | | | | | | | 81,970 | | | | 1,072,168 | |
Endologix Incorporated †« | | | | | | | 61,351 | | | | 899,406 | |
Insulet Corporation †« | | | | | | | 56,190 | | | | 1,233,371 | |
Natus Medical Incorporated † | | | | | | | 78,730 | | | | 891,224 | |
Spectranetics Corporation † | | | | | | | 66,300 | | | | 954,720 | |
Thoratec Corporation † | | | | | | | 34,110 | | | | 1,268,892 | |
| | | | |
| | | | | | | | | | | 7,189,491 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Providers & Services: 3.09% | | | | | | | | | | | | |
Capital Senior Living Corporation † | | | | | | | 67,950 | | | | 1,210,190 | |
Ensign Group Incorporated | | | | | | | 51,780 | | | | 1,335,406 | |
Team Health Holdings Incorporated † | | | | | | | 55,170 | | | | 1,544,208 | |
| | | | |
| | | | | | | | | | | 4,089,804 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 89 | |
SMALL COMPANY GROWTH PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Health Care Technology: 3.13% | | | | | | | | | | | | |
Medidata Solutions Incorporated † | | | | | | | 22,610 | | | $ | 904,400 | |
Omnicell Incorporated † | | | | | | | 108,350 | | | | 1,654,505 | |
Vocera Communications Incorporated †« | | | | | | | 64,720 | | | | 1,591,465 | |
| | | | |
| | | | | | | | | | | 4,150,370 | |
| | | | | | | | | | | | |
| | | | |
| Life Sciences Tools & Services: 1.59% | | | | | | | | | | | | |
Fluidigm Corporation †« | | | | | | | 52,190 | | | | 743,186 | |
ICON plc ADR † | | | | | | | 49,520 | | | | 1,366,257 | |
| | | | |
| | | | | | | | | | | 2,109,443 | |
| | | | | | | | | | | | |
| | | | |
| Pharmaceuticals: 0.53% | | | | | | | | | | | | |
MAP Pharmaceuticals Incorporated †« | | | | | | | 43,910 | | | | 699,925 | |
| | | | | | | | | | | | |
| | | | |
Industrials: 20.00% | | | | | | | | | | | | |
| | | | |
| Aerospace & Defense: 0.70% | | | | | | | | | | | | |
Esterline Technologies Corporation † | | | | | | | 15,250 | | | | 932,385 | |
| | | | | | | | | | | | |
| | | | |
| Air Freight & Logistics: 1.06% | | | | | | | | | | | | |
Hub Group Incorporated Class A † | | | | | | | 43,170 | | | | 1,397,413 | |
| | | | | | | | | | | | |
| | | | |
| Airlines: 0.89% | | | | | | | | | | | | |
Spirit Airlines Incorporated † | | | | | | | 70,200 | | | | 1,177,956 | |
| | | | | | | | | | | | |
| | | | |
| Building Products: 2.02% | | | | | | | | | | | | |
AO Smith Corporation « | | | | | | | 25,070 | | | | 1,578,157 | |
Apogee Enterprises Incorporated | | | | | | | 48,120 | | | | 1,102,910 | |
| | | | |
| | | | | | | | | | | 2,681,067 | |
| | | | | | | | | | | | |
| | | | |
| Commercial Services & Supplies: 2.37% | | | | | | | | | | | | |
ACCO Brands Corporation † | | | | | | | 155,030 | | | | 1,044,902 | |
Copart Incorporated † | | | | | | | 32,942 | | | | 995,178 | |
Encore Capital Group Incorporated †« | | | | | | | 41,125 | | | | 1,093,103 | |
| | | | |
| | | | | | | | | | | 3,133,183 | |
| | | | | | | | | | | | |
| | | | |
| Construction & Engineering: 1.76% | | | | | | | | | | | | |
Great Lakes Dredge & Dock Company | | | | | | | 152,510 | | | | 1,346,663 | |
Tutor Prini Corporation † | | | | | | | 76,200 | | | | 979,932 | |
| | | | |
| | | | | | | | | | | 2,326,595 | |
| | | | | | | | | | | | |
| | | | |
| Electrical Equipment: 0.70% | | | | | | | | | | | | |
Sensata Technologies Holdings NV † | | | | | | | 30,120 | | | | 929,503 | |
| | | | | | | | | | | | |
| | | | |
| Machinery: 2.55% | | | | | | | | | | | | |
Actuant Corporation Class A | | | | | | | 37,220 | | | | 1,070,819 | |
Colfax Corporation †« | | | | | | | 24,490 | | | | 954,865 | |
Wabash National Corporation †« | | | | | | | 167,290 | | | | 1,353,376 | |
| | | | |
| | | | | | | | | | | 3,379,060 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 90 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
SMALL COMPANY GROWTH PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Professional Services: 2.33% | | | | | | | | | | | | |
Insperity Incorporated | | | | | | | 46,230 | | | $ | 1,396,146 | |
On Assignment Incorporated †« | | | | | | | 84,980 | | | | 1,693,651 | |
| | | | |
| | | | | | | | | | | 3,089,797 | |
| | | | | | | | | | | | |
| | | | |
| Road & Rail: 2.47% | | | | | | | | | | | | |
Genesee & Wyoming Incorporated † | | | | | | | 13,710 | | | | 1,000,145 | |
Hertz Global Holdings Incorporated †« | | | | | | | 66,480 | | | | 1,039,747 | |
Swift Transportation Company †« | | | | | | | 87,690 | | | | 741,857 | |
Werner Enterprises Incorporated « | | | | | | | 22,450 | | | | 486,941 | |
| | | | |
| | | | | | | | | | | 3,268,690 | |
| | | | | | | | | | | | |
| | | | |
| Trading Companies & Distributors: 3.15% | | | | | | | | | | | | |
Aceto Corporation « | | | | | | | 79,750 | | | | 795,108 | |
Beacon Roofing Supply Incorporated † | | | | | | | 42,770 | | | | 1,319,027 | |
MSC Industrial Direct Company | | | | | | | 13,090 | | | | 951,119 | |
United Rentals Incorporated † | | | | | | | 26,800 | | | | 1,113,004 | |
| | | | |
| | | | | | | | | | | 4,178,258 | |
| | | | | | | | | | | | |
| | | | |
Information Technology: 24.11% | | | | | | | | | | | | |
| | | | |
| Communications Equipment: 3.14% | | | | | | | | | | | | |
Aruba Networks Incorporated †« | | | | | | | 34,120 | | | | 664,658 | |
Infinera Corporation †« | | | | | | | 121,250 | | | | 676,575 | |
Palo Alto Networks Incorporated † | | | | | | | 3,940 | | | | 214,415 | |
Procera Networks Incorporated †« | | | | | | | 37,280 | | | | 769,832 | |
Riverbed Technology Incorporated † | | | | | | | 65,920 | | | | 1,179,968 | |
Ruckus Wireless Incorporation † | | | | | | | 48,850 | | | | 646,774 | |
| | | | |
| | | | | | | | | | | 4,152,222 | |
| | | | | | | | | | | | |
| | | | |
| Computers & Peripherals: 0.76% | | | | | | | | | | | | |
Fusion-io Incorporated †« | | | | | | | 43,340 | | | | 1,011,122 | |
| | | | | | | | | | | | |
| | | | |
| Electronic Equipment, Instruments & Components: 1.91% | | | | | | | | | | | | |
InvenSense Incorporated † | | | | | | | 82,860 | | | | 832,743 | |
OSI Systems Incorporated † | | | | | | | 27,710 | | | | 1,698,069 | |
| | | | |
| | | | | | | | | | | 2,530,812 | |
| | | | | | | | | | | | |
| | | | |
| Internet Software & Services: 3.40% | | | | | | | | | | | | |
Bankrate Incorporated †« | | | | | | | 50,440 | | | | 606,793 | |
Millennial Media Incorporation † | | | | | | | 30,160 | | | | 414,700 | |
Perficient Incorporated † | | | | | | | 79,860 | | | | 869,675 | |
ValueClick Incorporated †« | | | | | | | 70,130 | | | | 1,323,353 | |
Vocus Incorporated † | | | | | | | 75,720 | | | | 1,291,783 | |
| | | | |
| | | | | | | | | | | 4,506,304 | |
| | | | | | | | | | | | |
| | | | |
| IT Services: 2.09% | | | | | | | | | | | | |
Fleetcor Technologies Incorporated † | | | | | | | 25,930 | | | | 1,353,287 | |
Interxion Holding NV † | | | | | | | 65,190 | | | | 1,415,275 | |
| | | | |
| | | | | | | | | | | 2,768,562 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 91 | |
SMALL COMPANY GROWTH PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Semiconductors & Semiconductor Equipment: 3.99% | | | | | | | | | | | | |
Cirrus Logic Incorporated † | | | | | | | 59,300 | | | $ | 1,857,276 | |
Microsemi Corporation †« | | | | | | | 58,110 | | | | 1,112,225 | |
Peregrine Semiconductor Corporation † | | | | | | | 23,620 | | | | 399,887 | |
PMC-Sierra Incorporated †« | | | | | | | 141,210 | | | | 727,232 | |
Semtech Corporation †« | | | | | | | 43,550 | | | | 1,191,093 | |
| | | | |
| | | | | | | | | | | 5,287,713 | |
| | | | | | | | | | | | |
| | | | |
| Software: 8.82% | | | | | | | | | | | | |
Bottomline Technologies Incorporated †« | | | | | | | 46,640 | | | | 1,143,146 | |
Broadsoft Incorporated † | | | | | | | 20,720 | | | | 655,374 | |
Cadence Design Systems Incorporated †« | | | | | | | 126,050 | | | | 1,604,617 | |
Concur Technologies Incorporated †« | | | | | | | 12,962 | | | | 851,733 | |
Parametric Technology Corporation † | | | | | | | 62,990 | | | | 1,274,918 | |
Realpage Incorporated †« | | | | | | | 45,600 | | | | 902,424 | |
Sourcefire Incorporated †« | | | | | | | 16,410 | | | | 807,864 | |
SS&C Technologies Holdings † | | | | | | | 81,920 | | | | 1,932,486 | |
Synchronoss Technologies Incorporated †« | | | | | | | 31,830 | | | | 581,216 | |
Tangoe Incorporated †« | | | | | | | 78,710 | | | | 1,026,378 | |
Ultimate Software Group Incorporated †« | | | | | | | 9,620 | | | | 909,186 | |
| | | | |
| | | | | | | | | | | 11,689,342 | |
| | | | | | | | | | | | |
| | | | |
Materials: 4.67% | | | | | | | | | | | | |
| | | | |
| Chemicals: 2.09% | | | | | | | | | | | | |
Calgon Carbon Corporation †« | | | | | | | 86,290 | | | | 1,168,367 | |
LSB Industries Incorporated † | | | | | | | 21,870 | | | | 731,114 | |
Methanex Corporation | | | | | | | 28,710 | | | | 868,190 | |
| | | | |
| | | | | | | | | | | 2,767,671 | |
| | | | | | | | | | | | |
| | | | |
| Containers & Packaging: 0.91% | | | | | | | | | | | | |
Berry Plastics Group Incorporated † | | | | | | | 80,620 | | | | 1,202,044 | |
| | | | | | | | | | | | |
| | | | |
| Metals & Mining: 0.70% | | | | | | | | | | | | |
Steel Dynamics Incorporated | | | | | | | 71,270 | | | | 920,808 | |
| | | | | | | | | | | | |
| | | | |
| Paper & Forest Products: 0.97% | | | | | | | | | | | | |
Schweitzer Manduit International Incorporated | | | | | | | 34,470 | | | | 1,291,591 | |
| | | | | | | | | | | | |
| | | | |
Total Common Stocks (Cost $110,568,344) | | | | | | | | | | | 127,600,070 | |
| | | | | | | | | | | | |
| | | | |
| | | | | | | Principal | | | | |
| Other: 0.42% | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (a)(i)(v) | | | | | | $ | 1,699,722 | | | | 560,908 | |
| | | | |
Total Other (Cost $161,045) | | | | | | | | | | | 560,908 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 92 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
SMALL COMPANY GROWTH PORTFOLIO
| | | | | | | | | | | | | | |
| Security name | | | | Yield | | | Principal | | | Value | |
| | | | | | | | | | | | | | |
| | | | |
Short-Term Investments : 31.34% | | | | | | | | | | | | | | |
| | | | |
| Investment Companies : 31.34% | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund, Select Class (l)(u) | | | | | 0.16 | % | | $ | 3,370,315 | | | $ | 3,370,315 | |
Wells Fargo Securities Lending Cash Investments, LLC (v)(l)(u)(r) | | | | | 0.21 | | | | 38,146,194 | | | | 38,146,194 | |
| | | | |
Total Short-Term Investments (Cost $41,516,509) | | | | | | | | | | | | | 41,516,509 | |
| | | | | | | | | | | | | | |
| | | | | | | | |
| Total investments in securities | | | | | | | | |
| (Cost $152,245,898)* | | | 128.07 | % | | | 169,677,487 | |
Other assets and liabilities, net | | | (28.07 | ) | | | (37,187,655 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 132,489,832 | |
| | | | | | | | |
| † | Non-income-earning security |
| « | All or a portion of this security is on loan. |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| (l) | Investment in an affiliate. |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| * | Cost for federal income tax purposes is $154,864,840 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 20,184,873 | |
Gross unrealized depreciation | | | (5,372,226 | ) |
| | | | |
Net unrealized appreciation | | $ | 14,812,647 | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 93 | |
SMALL COMPANY VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Common Stocks: 97.73% | | | | | | | | | | | | |
| | | | |
Consumer Discretionary: 15.31% | | | | | | | | | | | | |
| | | | |
| Auto Components: 0.97% | | | | | | | | | | | | |
Dana Holding Corporation | | | | | | | 116,600 | | | $ | 1,653,388 | |
| | | | | | | | | | | | |
| | | | |
| Automobiles: 0.87% | | | | | | | | | | | | |
Thor Industries Incorporated « | | | | | | | 38,990 | | | | 1,471,483 | |
| | | | | | | | | | | | |
| | | | |
| Distributors: 0.88% | | | | | | | | | | | | |
Core Mark Holding Company Incorporated | | | | | | | 32,780 | | | | 1,499,685 | |
| | | | | | | | | | | | |
| | | | |
| Hotels, Restaurants & Leisure: 4.50% | | | | | | | | | | | | |
Ameristar Casinos Incorporated | | | | | | | 118,920 | | | | 2,366,508 | |
Bob Evans Farms Incorporated | | | | | | | 36,740 | | | | 1,384,731 | |
Isle of Capri Casinos Incorporated † | | | | | | | 200,130 | | | | 982,638 | |
Ruby Tuesday Incorporated Ǡ | | | | | | | 243,960 | | | | 1,905,328 | |
WMS Industries Incorporated Ǡ | | | | | | | 60,630 | | | | 1,024,647 | |
| | | | |
| | | | | | | | | | | 7,663,852 | |
| | | | | | | | | | | | |
| | | | |
| Leisure Equipment & Products: 0.68% | | | | | | | | | | | | |
Arctic Cat Incorporated Ǡ | | | | | | | 30,800 | | | | 1,159,004 | |
| | | | | | | | | | | | |
| | | | |
| Media: 1.71% | | | | | | | | | | | | |
Cinemark Holdings Incorporated « | | | | | | | 68,330 | | | | 1,858,576 | |
National Cinemedia Incorporated | | | | | | | 73,470 | | | | 1,050,621 | |
| | | | |
| | | | | | | | | | | 2,909,197 | |
| | | | | | | | | | | | |
| | | | |
| Specialty Retail: 4.17% | | | | | | | | | | | | |
Aeropostale Incorporated † | | | | | | | 159,200 | | | | 2,198,552 | |
Asbury Automotive Group Incorporated Ǡ | | | | | | | 63,060 | | | | 1,903,781 | |
Bebe Stores Incorporated | | | | | | | 115,220 | | | | 433,227 | |
Rent-A-Center Incorporated | | | | | | | 48,880 | | | | 1,699,069 | |
Zumiez Incorporated † | | | | | | | 42,100 | | | | 864,658 | |
| | | | |
| | | | | | | | | | | 7,099,287 | |
| | | | | | | | | | | | |
| | | | |
| Textiles, Apparel & Luxury Goods: 1.53% | | | | | | | | | | | | |
G-III Apparel Group Limited Ǡ | | | | | | | 49,600 | | | | 1,887,280 | |
Hanesbrands Incorporated † | | | | | | | 19,680 | | | | 710,448 | |
| | | | |
| | | | | | | | | | | 2,597,728 | |
| | | | | | | | | | | | |
| | | | |
Consumer Staples: 1.18% | | | | | | | | | | | | |
| | | | |
| Food Products: 1.18% | | | | | | | | | | | | |
Post Holdings Incorporated † | | | | | | | 58,520 | | | | 2,015,429 | |
| | | | | | | | | | | | |
| | | | |
Energy: 6.43% | | | | | | | | | | | | |
| | | | |
| Energy Equipment & Services: 2.36% | | | | | | | | | | | | |
Hercules Offshore Incorporated Ǡ | | | | | | | 471,330 | | | | 2,432,063 | |
Hornbeck Offshore † | | | | | | | 44,040 | | | | 1,584,119 | |
| | | | |
| | | | | | | | | | | 4,016,182 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 94 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
SMALL COMPANY VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Oil, Gas & Consumable Fuels: 4.07% | | | | | | | | | | | | |
Berry Petroleum Company Class A « | | | | | | | 42,260 | | | $ | 1,314,709 | |
Magnum Hunter Resources Corporation Ǡ | | | | | | | 570,600 | | | | 2,299,518 | |
Rex Energy Corporation Ǡ | | | | | | | 128,800 | | | | 1,693,720 | |
Sanchez Energy Corporation Ǡ | | | | | | | 88,800 | | | | 1,622,376 | |
| | | | |
| | | | | | | | | | | 6,930,323 | |
| | | | | | | | | | | | |
| | | | |
Financials: 33.28% | | | | | | | | | | | | |
| | | | |
| Capital Markets: 2.25% | | | | | | | | | | | | |
Greenhill & Company Incorporated « | | | | | | | 45,840 | | | | 2,178,317 | |
Stifel Financial Corporation Ǡ | | | | | | | 54,470 | | | | 1,656,977 | |
| | | | |
| | | | | | | | | | | 3,835,294 | |
| | | | | | | | | | | | |
| | | | |
| Commercial Banks: 11.83% | | | | | | | | | | | | |
Associated Banc-Corp « | | | | | | | 131,010 | | | | 1,683,479 | |
Banner Corporation | | | | | | | 47,700 | | | | 1,433,385 | |
City National Corporation « | | | | | | | 37,500 | | | | 1,825,875 | |
FirstMerit Corporation « | | | | | | | 108,600 | | | | 1,529,088 | |
Home Bancshares Incorporated « | | | | | | | 65,560 | | | | 2,173,970 | |
Pacwest Bancorp « | | | | | | | 77,360 | | | | 1,927,038 | |
SVB Financial Group † | | | | | | | 35,330 | | | | 1,950,923 | |
Umpqua Holdings Corporation « | | | | | | | 133,910 | | | | 1,561,391 | |
Webster Financial Corporation « | | | | | | | 84,000 | | | | 1,748,880 | |
Western Alliance Bancorp Ǡ | | | | | | | 224,300 | | | | 2,278,888 | |
Wintrust Financial Corporation « | | | | | | | 54,860 | | | | 2,018,299 | |
| | | | |
| | | | | | | | | | | 20,131,216 | |
| | | | | | | | | | | | |
| | | | |
| Insurance: 7.14% | | | | | | | | | | | | |
Amtrust Financial Services Incorporated « | | | | | | | 73,177 | | | | 2,108,961 | |
CNO Financial Group Incorporated « | | | | | | | 216,900 | | | | 1,973,790 | |
Employers Holdings Incorporated | | | | | | | 128,520 | | | | 2,453,447 | |
Meadowbrook Insurance Group Incorporated | | | | | | | 94,580 | | | | 525,865 | |
Primerica Incorporated | | | | | | | 60,200 | | | | 1,723,526 | |
Selective Insurance Group Incorporated « | | | | | | | 91,330 | | | | 1,706,044 | |
United Fire Group Incorporated | | | | | | | 79,760 | | | | 1,653,425 | |
| | | | |
| | | | | | | | | | | 12,145,058 | |
| | | | | | | | | | | | |
| | | | |
| Real Estate Management & Development: 0.64% | | | | | | | | | | | | |
Alexander & Baldwin Incorporated † | | | | | | | 36,700 | | | | 1,095,862 | |
| | | | | | | | | | | | |
| | | | |
| REITs: 9.31% | | | | | | | | | | | | |
Ashford Hospitality Trust | | | | | | | 183,800 | | | | 1,663,390 | |
Associated Estates Realty Corporation | | | | | | | 90,670 | | | | 1,371,837 | |
Campus Crest Communities Incorporated | | | | | | | 155,150 | | | | 1,774,916 | |
Cousins Properties Incorporated | | | | | | | 215,649 | | | | 1,770,478 | |
LaSalle Hotel Properties | | | | | | | 61,320 | | | | 1,478,425 | |
Pebblebrook Hotel Trust | | | | | | | 75,620 | | | | 1,576,677 | |
Redwood Trust Incorporated « | | | | | | | 116,070 | | | | 1,940,690 | |
Sabra Health Care REIT Incorporated « | | | | | | | 113,923 | | | | 2,472,129 | |
Sunstone Hotel Investors Incorporated † | | | | | | | 173,600 | | | | 1,791,552 | |
| | | | |
| | | | | | | | | | | 15,840,094 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 95 | |
SMALL COMPANY VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Thrifts & Mortgage Finance: 2.11% | | | | | | | | | | | | |
BankUnited Incorporated « | | | | | | | 80,200 | | | $ | 1,884,700 | |
Washington Federal Incorporated « | | | | | | | 106,410 | | | | 1,710,009 | |
| | | | |
| | | | | | | | | | | 3,594,709 | |
| | | | | | | | | | | | |
| | | | |
Health Care: 3.89% | | | | | | | | | | | | |
| | | | |
| Health Care Equipment & Supplies: 1.20% | | | | | | | | | | | | |
Alere Incorporated † | | | | | | | 110,100 | | | | 2,036,850 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Providers & Services: 1.59% | | | | | | | | | | | | |
Ensign Group Incorporated | | | | | | | 42,050 | | | | 1,084,470 | |
Lifepoint Hospitals Incorporated † | | | | | | | 45,280 | | | | 1,629,174 | |
| | | | |
| | | | | | | | | | | 2,713,644 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Technology: 1.10% | | | | | | | | | | | | |
Medassets Incorporated † | | | | | | | 115,850 | | | | 1,865,185 | |
| | | | | | | | | | | | |
| | | | |
Industrials: 14.86% | | | | | | | | | | | | |
| | | | |
| Aerospace & Defense: 1.77% | | | | | | | | | | | | |
AAR Corporation « | | | | | | | 107,200 | | | | 1,646,592 | |
Huntington Ingalls Industries Incorporated | | | | | | | 33,400 | | | | 1,364,390 | |
| | | | |
| | | | | | | | | | | 3,010,982 | |
| | | | | | | | | | | | |
| | | | |
| Air Freight & Logistics: 1.35% | | | | | | | | | | | | |
Air Transport Services Group † | | | | | | | 204,870 | | | | 776,457 | |
Atlas Air Worldwide Holdings Incorporated † | | | | | | | 35,100 | | | | 1,519,128 | |
| | | | |
| | | | | | | | | | | 2,295,585 | |
| | | | | | | | | | | | |
| | | | |
| Commercial Services & Supplies: 0.81% | | | | | | | | | | | | |
Portfolio Recovery Associates Incorporated Ǡ | | | | | | | 13,950 | | | | 1,378,539 | |
| | | | | | | | | | | | |
| | | | |
| Construction & Engineering: 2.15% | | | | | | | | | | | | |
Great Lakes Dredge & Dock Company « | | | | | | | 250,690 | | | | 2,213,593 | |
Tutor Prini Corporation † | | | | | | | 111,880 | | | | 1,438,777 | |
| | | | |
| | | | | | | | | | | 3,652,370 | |
| | | | | | | | | | | | |
| | | | |
| Electrical Equipment: 0.57% | | | | | | | | | | | | |
GrafTech International Limited Ǡ | | | | | | | 100,340 | | | | 973,298 | |
| | | | | | | | | | | | |
| | | | |
| Machinery: 3.79% | | | | | | | | | | | | |
Briggs & Stratton Corporation « | | | | | | | 82,980 | | | | 1,683,664 | |
Kadant Incorporated † | | | | | | | 57,280 | | | | 1,389,040 | |
Titan International Incorporated « | | | | | | | 85,070 | | | | 1,729,473 | |
Wabash National Corporation Ǡ | | | | | | | 203,970 | | | | 1,650,117 | |
| | | | |
| | | | | | | | | | | 6,452,294 | |
| | | | | | | | | | | | |
| | | | |
| Marine: 0.58% | | | | | | | | | | | | |
Matson Incorporated « | | | | | | | 43,100 | | | | 991,300 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 96 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
SMALL COMPANY VALUE PORTFOLIO
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Professional Services: 1.01% | | | | | | | | | | | | |
FTI Consulting Incorporated Ǡ | | | | | | | 55,670 | | | $ | 1,720,760 | |
| | | | | | | | | | | | |
| | | | |
| Road & Rail: 1.86% | | | | | | | | | | | | |
Con-way Incorporated | | | | | | | 45,000 | | | | 1,264,050 | |
Ryder System Incorporated | | | | | | | 40,550 | | | | 1,908,689 | |
| | | | |
| | | | | | | | | | | 3,172,739 | |
| | | | | | | | | | | | |
| | | | |
| Trading Companies & Distributors: 0.97% | | | | | | | | | | | | |
Titan Machinery Incorporated Ǡ | | | | | | | 74,550 | | | | 1,650,537 | |
| | | | | | | | | | | | |
| | | | |
Information Technology: 13.79% | | | | | | | | | | | | |
| | | | |
| Communications Equipment: 0.88% | | | | | | | | | | | | |
Black Box Corporation « | | | | | | | 60,970 | | | | 1,502,911 | |
| | | | | | | | | | | | |
| | | | |
| Computers & Peripherals: 1.27% | | | | | | | | | | | | |
Lexmark International Incorporated « | | | | | | | 45,780 | | | | 1,113,827 | |
QLogic Corporation † | | | | | | | 111,060 | | | | 1,052,849 | |
| | | | |
| | | | | | | | | | | 2,166,676 | |
| | | | | | | | | | | | |
| | | | |
| Electronic Equipment, Instruments & Components: 4.48% | | | | | | | | | | | | |
Aeroflex Holding Corporation † | | | | | | | 200,970 | | | | 1,302,286 | |
Benchmark Electronics Incorporated † | | | | | | | 101,830 | | | | 1,582,438 | |
Multi-Fineline Electronix Incorporated Ǡ | | | | | | | 66,450 | | | | 1,135,631 | |
Sanmina Corporation † | | | | | | | 203,380 | | | | 1,915,840 | |
Synnex Corporation Ǡ | | | | | | | 51,100 | | | | 1,687,322 | |
| | | | |
| | | | | | | | | | | 7,623,517 | |
| | | | | | | | | | | | |
| | | | |
| Internet Software & Services: 1.12% | | | | | | | | | | | | |
EarthLink Incorporated | | | | | | | 289,200 | | | | 1,908,720 | |
| | | | | | | | | | | | |
| | | | |
| IT Services: 0.96% | | | | | | | | | | | | |
TNS Incorporated † | | | | | | | 111,480 | | | | 1,627,608 | |
| | | | | | | | | | | | |
| | | | |
| Semiconductors & Semiconductor Equipment: 4.76% | | | | | | | | | | | | |
Integrated Silicon Solution Incorporated Ǡ | | | | | | | 142,990 | | | | 1,252,592 | |
Kulicke & Soffa Industries Incorporated † | | | | | | | 219,570 | | | | 2,509,685 | |
MagnaChip Semiconductor Corporation † | | | | | | | 116,950 | | | | 1,473,570 | |
Omnivision Technologies Incorporated Ǡ | | | | | | | 93,000 | | | | 1,404,300 | |
Photronics Incorporated Ǡ | | | | | | | 284,500 | | | | 1,465,175 | |
| | | | |
| | | | | | | | | | | 8,105,322 | |
| | | | | | | | | | | | |
| | | | |
| Software: 0.32% | | | | | | | | | | | | |
EPIQ Systems Incorporated | | | | | | | 45,090 | | | | 540,629 | |
| | | | | | | | | | | | |
| | | | |
Materials: 5.47% | | | | | | | | | | | | |
| | | | |
| Chemicals: 2.95% | | | | | | | | | | | | |
Cytec Industries Incorporated « | | | | | | | 26,715 | | | | 1,833,718 | |
Kraton Performance Polymers Incorporated Ǡ | | | | | | | 86,040 | | | | 2,021,080 | |
Zep Incorporated « | | | | | | | 94,200 | | | | 1,168,080 | |
| | | | |
| | | | | | | | | | | 5,022,878 | |
| | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 97 | |
SMALL COMPANY VALUE PORTFOLIO
| | | | | | | | | | | | | | |
| Security name | | | | | | | Shares | | | Value | |
| | | | | | | | | | | | | | |
| | | | |
| Metals & Mining: 2.52% | | | | | | | | | | | | | | |
A.M. Castle & Company Ǡ | | | | | | | | | 67,290 | | | $ | 858,620 | |
Horsehead Holding Corporation Ǡ | | | | | | | | | 154,600 | | | | 1,437,780 | |
Suncoke Energy Incorporated † | | | | | | | | | 122,600 | | | | 1,992,250 | |
| | | | |
| | | | | | | | | | | | | 4,288,650 | |
| | | | | | | | | | | | | | |
| | | | |
Telecommunication Services: 0.90% | | | | | | | | | | | | | | |
| | | | |
| Diversified Telecommunication Services: 0.90% | | | | | | | | | | | | | | |
Iridium Communications Incorporated Ǡ | | | | | | | | | 247,380 | | | | 1,526,335 | |
| | | | | | | | | | | | | | |
| | | | |
Utilities: 2.62% | | | | | | | | | | | | | | |
| | | | |
| Electric Utilities: 2.62% | | | | | | | | | | | | | | |
Great Plains Energy Incorporated | | | | | | | | | 90,880 | | | | 1,840,320 | |
PNM Resources Incorporated « | | | | | | | | | 40,180 | | | | 849,003 | |
Portland General Electric Company | | | | | | | | | 65,580 | | | | 1,772,623 | |
| | | | |
| | | | | | | | | | | | | 4,461,946 | |
| | | | | | | | | | | | | | |
| | | | |
Total Common Stocks (Cost $154,073,059) | | | | | | | | | | | | | 166,347,066 | |
| | | | | | | | | | | | | | |
| | | | |
| | | | | | | | Principal | | | | |
| | | | |
Other: 0.23% | | | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (i)(a)(v) | | | | | | | | $ | 1,189,987 | | | | 392,696 | |
| | | | |
Total Other (Cost $112,749) | | | | | | | | | | | | | 392,696 | |
| | | | | | | | | | | | | | |
| | | | |
| | | Yield | | | | | Shares | | | | |
| | | | |
Short-Term Investments: 35.35% | | | | | | | | | | | | | | |
| | | | |
| Investment Companies: 35.35% | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund, Select Class (l)(u) | | | 0.16 | % | | | | | 4,320,665 | | | | 4,320,665 | |
Wells Fargo Securities Lending Cash Investments, LLC (v)(l)(u)(r) | | | 0.21 | | | | | | 55,859,005 | | | | 55,859,005 | |
| | | | |
Total Short-Term Investments (Cost $60,179,670) | | | | | | | | | | | | | 60,179,670 | |
| | | | | | | | | | | | | | |
| | | | | | | | |
| Total investments in securities | | | | | | | | |
| (Cost $214,365,478) * | | | 133.31 | % | | | 226,919,432 | |
Other assets and liabilities, net | | | (33.31 | ) | | | (56,698,903 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 170,220,529 | |
| | | | | | | | |
| « | All or a portion of this security is on loan. |
| † | Non-income-earning security |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| (l) | Investment in an affiliate |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| * | Cost for federal income tax purposes is $218,409,880 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 17,537,664 | |
Gross unrealized depreciation | | | (9,028,112 | ) |
| | | | |
Net unrealized appreciation | | $ | 8,509,552 | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 98 | | Wells Fargo Advantage Allocation Funds | | Summary portfolio of investments—November 30, 2012 (unaudited) |
CORE BOND PORTFOLIO
The Summary Portfolio of Investments shows the 50 largest portfolio holdings in unaffiliated issuers and any holdings exceeding 1% of the total net assets as of the report date. The remaining securities held are grouped as “Other securities” in each category. You can request a complete schedule of portfolio holdings as of the report date, free of charge, by accessing the following website:
http://a584.g.akamai.net/f/584/1326/1d/www.wellsfargoadvantagefunds.com/pdf/semi/holdings/corebond.pdf or by calling Wells Fargo Advantage Funds at 1-800-222-8222. This complete schedule, filed on the Form N-CSR, is also available on the SEC’s website at sec.gov.
| | | | | | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | | | Percent of
net assets | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Agency Securities : 35.58% | | | | | | | | | | | | | | | | | | | | |
FHLMC %% | | | 2.50 | % | | | 1-1-27 | | | $ | 55,900,000 | | | $ | 58,162,200 | | | | 1.58 | % |
FHLMC %% | | | 2.50 | | | | 12-1-27 | | | | 15,600,000 | | | | 16,255,683 | | | | 0.44 | |
FHLMC | | | 0.95-7.50 | | | | 8 -1-17 to 3-25-44 | | | | 149,965,229 | | | | 165,468,694 | | | | 4.48 | |
FHLMC | | | 4.00 | | | | 4-1-42 | | | | 19,448,472 | | | | 21,592,492 | | | | 0.59 | |
FHLMC | | | 4.00 | | | | 6-1-42 | | | | 40,071,200 | | | | 44,488,690 | | | | 1.21 | |
FHLMC | | | 5.00 | | | | 8-1-39 | | | | 26,643,876 | | | | 29,586,002 | | | | 0.80 | |
FHLMC | | | 5.00 | | | | 8-1-41 | | | | 26,486,600 | | | | 29,750,719 | | | | 0.81 | |
FNMA | | | 2.31-7.50 | | | | 9-1-16 to 12-25-42 | | | | 255,262,346 | | | | 282,516,800 | | | | 7.70 | |
FNMA %% | | | 2.50 | | | | 1-1-27 | | | | 71,100,000 | | | | 74,199,512 | | | | 2.01 | |
FNMA %% | | | 2.50 | | | | 2-1-27 | | | | 140,900,000 | | | | 146,800,180 | | | | 3.99 | |
FNMA %% | | | 3.00 | | | | 1-1-42 | | | | 29,200,000 | | | | 30,637,189 | | | | 0.83 | |
FNMA %% | | | 3.00 | | | | 2-1-42 | | | | 29,100,000 | | | | 30,464,064 | | | | 0.83 | |
FNMA | | | 4.00 | | | | 8-1-42 | | | | 37,752,178 | | | | 42,065,025 | | | | 1.14 | |
FNMA | | | 4.00 | | | | 9-1-42 | | | | 75,452,702 | | | | 84,072,496 | | | | 2.28 | |
FNMA | | | 4.00 | | | | 10-1-42 | | | | 31,430,452 | | | | 35,021,099 | | | | 0.95 | |
FNMA | | | 4.00 | | | | 11-1-42 | | | | 15,643,291 | | | | 17,430,396 | | | | 0.47 | |
FNMA | | | 5.00 | | | | 4-1-40 | | | | 18,132,263 | | | | 19,743,525 | | | | 0.54 | |
FNMA | | | 5.00 | | | | 7-1-41 | | | | 26,850,609 | | | | 30,436,484 | | | | 0.83 | |
FNMA | | | 6.00 | | | | 3-1-34 | | | | 48,865,760 | | | | 54,659,750 | | | | 1.48 | |
FNMA Series 2010-M03 Class A3 ± | | | 4.33 | | | | 3-25-20 | | | | 20,018,000 | | | | 23,324,333 | | | | 0.63 | |
FNMA Series 2011-53 Class TN | | | 4.00 | | | | 6-25-41 | | | | 32,997,904 | | | | 34,797,577 | | | | 0.94 | |
GNMA | | | 3.00-11.50 | | | | 5-15-13 to 1-20-42 | | | | 18,804,474 | | | | 20,533,302 | | | | 0.54 | |
GNMA | | | 6.00 | | | | 1-15-40 | | | | 16,569,548 | | | | 18,596,211 | | | | 0.51 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Total Agency Securities (Cost $1,282,483,964) | | | | | | | | | | | | | | | 1,310,602,423 | | | | 35.58 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Asset-Backed Securities: 14.12% | | | | | | | | | | | | | | | | | | | | |
Ally Auto Receivables Trust | | | 0.48-2.23 | | | | 3 -17-14 to 9-15-19 | | | | 51,531,576 | | | | 52,154,763 | | | | 1.41 | |
American Express Credit Account Master Trust Series 2012-4 Class A ± | | | 0.45 | | | | 5-15-20 | | | | 16,856,000 | | | | 16,889,543 | | | | 0.46 | |
Chase Issuance Trust Series 2008-A13 Class A13 ± | | | 1.89 | | | | 9-15-15 | | | | 12,439,000 | | | | 12,589,114 | | | | 0.34 | |
Chase Issuance Trust Series 2011-A2 Class A2 ± | | | 0.30 | | | | 5-15-15 | | | | 24,987,000 | | | | 25,001,967 | | | | 0.68 | |
Chase Issuance Trust Series 2012-A6 Class A ± | | | 0.34 | | | | 8-15-17 | | | | 51,409,000 | | | | 51,451,207 | | | | 1.40 | |
Ford Credit Floorplan Master Trust Series 2012-4 Class A2 ± | | | 0.56 | | | | 9-15-16 | | | | 16,254,000 | | | | 16,254,000 | | | | 0.44 | |
Nelnet Student Loan Trust | | | 0.32-0.81 | | | | 11 -27-18 to 3-23-37 | | | | 48,847,951 | | | | 46,489,043 | | | | 1.27 | |
Nelnet Student Loan Trust Series 2006-1 Class A4 ± | | | 0.40 | | | | 11-23-22 | | | | 17,969,158 | | | | 17,915,933 | | | | 0.49 | |
Nelnet Student Loan Trust Series 2006-2 Class A4 ± | | | 0.40 | | | | 10-26-26 | | | | 17,854,312 | | | | 17,833,012 | | | | 0.48 | |
Nelnet Student Loan Trust Series 2007-2A Class A3L ± 144A | | | 0.72 | | | | 3-25-26 | | | | 19,677,000 | | | | 19,141,294 | | | | 0.52 | |
SLM Student Loan Trust | | | 0.32-3.74 | | | | 7 -25-17 to 6-15-45 | | | | 128,226,165 | | | | 129,140,684 | | | | 3.50 | |
SLM Student Loan Trust Series 2012-E Class A1 ± 144A | | | 0.96 | | | | 10-16-23 | | | | 16,551,000 | | | | 16,551,033 | | | | 0.45 | |
Other securities | | | | | | | | | | | | | | | 98,648,281 | | | | 2.68 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | |
Total Asset-Backed Securities (Cost $517,566,890) | | | | | | | | | | | | 520,059,874 | | | | 14.12 | |
| | | | | | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Summary portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 99 | |
CORE BOND PORTFOLIO
| | | | | | | | | | | | | | |
| Security name | | | | | | | | Value | | | Percent of
net assets | |
| | | | | | | | | | | | | | |
| | | | | |
Corporate Bonds and Notes: 19.28% | | | | | | | | | | | | | | |
| | | | | |
Consumer Discretionary: 1.97% | | | | | | | | | | | | | | |
| | | | | |
| Auto Components: 0.29% | | | | | | | | | | | | | | |
Other securities | | | | | | | | $ | 10,563,107 | | | | 0.29 | % |
| | | | | | | | | | | | | | |
| | | | | |
| Automobiles: 0.47% | | | | | | | | | | | | | | |
Other securities | | | | | | | | | 17,456,401 | | | | 0.47 | |
| | | | | | | | | | | | | | |
| | | | | |
| Diversified Consumer Services: 0.09% | | | | | | | | | | | | | | |
Other securities | | | | | | | | | 3,244,315 | | | | 0.09 | |
| | | | | | | | | | | | | | |
| | | | | |
| Hotels, Restaurants & Leisure: 0.20% | | | | | | | | | | | | | | |
Other securities | | | | | | | | | 7,174,097 | | | | 0.20 | |
| | | | | | | | | | | | | | |
| | | | | |
| Internet & Catalog Retail: 0.08% | | | | | | | | | | | | | | |
Other securities | | | | | | | | | 2,858,374 | | | | 0.08 | |
| | | | | | | | | | | | | | |
| | | | | |
| Media: 0.63% | | | | | | | | | | | | | | |
Other securities | | | | | | | | | 23,377,172 | | | | 0.63 | |
| | | | | | | | | | | | | | |
| | | | | |
| Specialty Retail: 0.21% | | | | | | | | | | | | | | |
Other securities | | | | | | | | | 7,858,168 | | | | 0.21 | |
| | | | | | | | | | | | | | |
| | | | | |
Consumer Staples: 1.88% | | | | | | | | | | | | | | |
| | | | | |
| Beverages: 1.12% | | | | | | | | | | | | | | |
Other securities | | | | | | | | | 41,411,242 | | | | 1.12 | |
| | | | | | | | | | | | | | |
| | | | | |
| Food & Staples Retailing: 0.07% | | | | | | | | | | | | | | |
Other securities | | | | | | | | | 2,454,759 | | | | 0.07 | |
| | | | | | | | | | | | | | |
| | | | | |
| Food Products: 0.55% | | | | | | | | | | | | | | |
Other securities | | | | | | | | | 20,274,203 | | | | 0.55 | |
| | | | | | | | | | | | | | |
| | | | | |
| Tobacco: 0.14% | | | | | | | | | | | | | | |
Other securities | | | | | | | | | 5,255,873 | | | | 0.14 | |
| | | | | | | | | | | | | | |
| | | | | |
Energy: 1.84% | | | | | | | | | | | | | | |
| | | | | |
| Energy Equipment & Services: 0.05% | | | | | | | | | | | | | | |
Other securities | | | | | | | | | 1,745,164 | | | | 0.05 | |
| | | | | | | | | | | | | | |
| | | | | |
| Oil, Gas & Consumable Fuels: 1.79% | | | | | | | | | | | | | | |
Other securities | | | | | | | | | 66,100,909 | | | | 1.79 | |
| | | | | | | | | | | | | | |
| | | | | |
Financials: 8.62% | | | | | | | | | | | | | | |
| | | | | |
| Capital Markets: 0.91% | | | | | | | | | | | | | | |
Other securities | | | | | | | | | 33,436,604 | | | | 0.91 | |
| | | | | | | | | | | | | | |
| | | | | |
| Commercial Banks: 0.68% | | | | | | | | | | | | | | |
Other securities | | | | | | | | | 24,922,033 | | | | 0.68 | |
| | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 100 | | Wells Fargo Advantage Allocation Funds | | Summary portfolio of investments—November 30, 2012 (unaudited) |
CORE BOND PORTFOLIO
| | | | | | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | | | Percent of
net assets | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Consumer Finance: 0.80% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | $ | 29,657,992 | | | | 0.80 | % |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Diversified Financial Services: 3.79% | | | | | | | | | | | | | | | | | | | | |
JPMorgan Chase & Company | | | 1.10-5.40 | % | | | 6 -1-14 to 1-6-42 | | | $ | 24,818,000 | | | | 25,966,701 | | | | 0.70 | |
Other securities | | | | | | | | | | | | | | | 113,525,839 | | | | 3.09 | |
| | | | | |
| | | | | | | | | | | | | | | 139,492,540 | | | | 3.79 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Insurance: 1.45% | | | | | | | | | | | | | | | | | | | | |
MetLife Global Funding I ±144A | | | 0.73 | | | | 3-19-14 | | | | 19,510,000 | | | | 19,527,949 | | | | 0.53 | |
Other securities | | | | | | | | | | | | | | | 34,034,806 | | | | 0.92 | |
| | | | | |
| | | | | | | | | | | | | | | 53,562,755 | | | | 1.45 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| REITs: 0.99% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 36,482,119 | | | | 0.99 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Health Care: 2.00% | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Biotechnology: 0.49% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 18,054,187 | | | | 0.49 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Health Care Equipment & Supplies: 0.11% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 4,175,391 | | | | 0.11 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Health Care Providers & Services: 0.73% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 26,678,612 | | | | 0.73 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Life Sciences Tools & Services: 0.09% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 3,267,290 | | | | 0.09 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Pharmaceuticals: 0.58% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 21,304,437 | | | | 0.58 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Industrials: 0.24% | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Building Products: 0.07% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 2,735,265 | | | | 0.07 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Road & Rail: 0.17% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 6,172,984 | | | | 0.17 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Information Technology: 0.24% | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Software: 0.24% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 8,950,538 | | | | 0.24 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Materials: 0.08% | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Chemicals: 0.08% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 2,886,900 | | | | 0.08 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Telecommunication Services: 0.61% | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Diversified Telecommunication Services: 0.39% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 14,275,369 | | | | 0.39 | |
| | | | | | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Summary portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 101 | |
CORE BOND PORTFOLIO
| | | | | | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | | | Percent of
net assets | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Wireless Telecommunication Services: 0.22% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | $ | 8,055,498 | | | | 0.22 | % |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Utilities: 1.80% | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Electric Utilities: 1.23% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 45,281,531 | | | | 1.23 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Gas Utilities: 0.22% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 7,973,024 | | | | 0.22 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Multi-Utilities: 0.35% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 12,857,305 | | | | 0.35 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | |
Total Corporate Bonds and Notes (Cost $686,653,690) | | | | | | | | | | | | 709,996,158 | | | | 19.28 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Municipal Obligations: 1.10% | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| California: 0.27% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 9,872,117 | | | | 0.27 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Illinois: 0.18% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 6,569,672 | | | | 0.18 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Nevada: 0.14% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 5,217,670 | | | | 0.14 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| New Jersey: 0.18% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 6,744,657 | | | | 0.18 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| New York: 0.14% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 5,004,321 | | | | 0.14 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Ohio: 0.04% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 1,528,135 | | | | 0.04 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Texas: 0.15% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 5,702,696 | | | | 0.15 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Total Municipal Obligations (Cost $33,047,469) | | | | | | | | | | | | | | | 40,639,268 | | | | 1.10 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Non-Agency Mortgage Backed Securities: 6.73% | | | | | | | | | | | | | | | | | | | | |
Credit Suisse Mortgage Capital Certificates Series 2006-C5 Class A3 | | | 5.31 | % | | | 12-15-39 | | | $ | 18,499,000 | | | | 21,011,904 | | | | 0.57 | |
Discover Master Owners Trust Series 2011 Class A1 ± | | | 0.56 | | | | 8-15-16 | | | | 17,801,000 | | | | 17,858,800 | | | | 0.48 | |
Greenwich Capital Commercial Funding Corporation Series 2005-GG5 Class A5 ± | | | 5.22 | | | | 4-10-37 | | | | 15,359,000 | | | | 16,966,473 | | | | 0.46 | |
JPMorgan Chase Commercial Mortgage Securities Corporation | | | 2.38-6.85 | | | | 8 -5-32 to 2-15-51 | | | | 30,199,607 | | | | 32,968,591 | | | | 0.90 | |
Other securities | | | | | | | | | | | | | | | 159,032,509 | | | | 4.32 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | |
Total Non-Agency Mortgage Backed Securities (Cost $240,765,820) | | | | | | | | | | | | 247,838,277 | | | | 6.73 | |
| | | | | | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 102 | | Wells Fargo Advantage Allocation Funds | | Summary portfolio of investments—November 30, 2012 (unaudited) |
CORE BOND PORTFOLIO
| | | | | | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | | | Percent of
net assets | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
U.S. Treasury Securities: 21.73% | | | | | | | | | | | | | | | | | | | | |
U.S. Treasury Bond | | | 2.75 | % | | | 8-15-42 | | | $ | 23,980,000 | | | $ | 23,721,472 | | | | 0.64 | % |
U.S. Treasury Bond | | | 2.75-4.38 | | | | 5 -15-41 to 11-15-42 | | | | 7,774,000 | | | | 8,453,121 | | | | 0.23 | |
U.S. Treasury Bond | | | 3.00 | | | | 5-15-42 | | | | 33,898,000 | | | | 35,349,241 | | | | 0.96 | |
U.S. Treasury Bond | | | 4.50 | | | | 5-15-38 | | | | 21,059,000 | | | | 28,383,573 | | | | 0.77 | |
U.S. Treasury Note | | | 0.25 | | | | 1-31-14 | | | | 49,574,000 | | | | 49,591,450 | | | | 1.35 | |
U.S. Treasury Note « | | | 0.25 | | | | 10-31-14 | | | | 42,151,000 | | | | 42,151,000 | | | | 1.14 | |
U.S. Treasury Note ## | | | 0.25 | | | | 1-15-15 | | | | 54,004,000 | | | | 53,970,248 | | | | 1.47 | |
U.S. Treasury Note ## | | | 0.25 | | | | 9-15-15 | | | | 48,394,000 | | | | 48,303,261 | | | | 1.31 | |
U.S. Treasury Note ## | | | 0.25 | | | | 10-15-15 | | | | 65,318,000 | | | | 65,185,339 | | | | 1.77 | |
U.S. Treasury Note « | | | 0.38 | | | | 4-15-15 | | | | 46,998,000 | | | | 47,089,787 | | | | 1.28 | |
U.S. Treasury Note ## | | | 0.38 | | | | 11-15-15 | | | | 129,905,000 | | | | 130,097,779 | | | | 3.53 | |
U.S. Treasury Note | | | 0.63-1.25 | | | | 9 -30-17 to 10-31-19 | | | | 9,739,000 | | | | 9,871,175 | | | | 0.27 | |
U.S. Treasury Note | | | 0.75 | | | | 6-30-17 | | | | 16,089,000 | | | | 16,231,034 | | | | 0.44 | |
U.S. Treasury Note « | | | 0.75 | | | | 10-31-17 | | | | 33,541,000 | | | | 33,771,594 | | | | 0.92 | |
U.S. Treasury Note | | | 1.25 | | | | 3-15-14 | | | | 26,548,000 | | | | 26,892,301 | | | | 0.73 | |
U.S. Treasury Note | | | 1.63 | | | | 11-15-22 | | | | 20,419,000 | | | | 20,434,947 | | | | 0.56 | |
U.S. Treasury Note | | | 1.75 | | | | 3-31-14 | | | | 29,411,000 | | | | 29,999,220 | | | | 0.81 | |
U.S. Treasury Note « | | | 2.38 | | | | 2-28-15 | | | | 37,816,000 | | | | 39,579,776 | | | | 1.07 | |
U.S. Treasury Note ## | | | 3.00 | | | | 9-30-16 | | | | 83,341,000 | | | | 91,427,661 | | | | 2.48 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Total U.S. Treasury Securities (Cost $797,651,278) | | | | | | | | | | | | | | | 800,503,979 | | | | 21.73 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Yankee Corporate Bonds and Notes: 7.33% | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Consumer Discretionary: 0.27% | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Media: 0.09% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 3,347,964 | | | | 0.09 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Textiles, Apparel & Luxury Goods: 0.18% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 6,686,774 | | | | 0.18 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Consumer Staples: 0.18% | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Beverages: 0.18% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 6,492,030 | | | | 0.18 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Energy: 2.04% | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Oil, Gas & Consumable Fuels: 2.04% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 75,174,615 | | | | 2.04 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Financials: 3.08% | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Commercial Banks: 2.52% | | | | | | | | | | | | | | | | | | | | |
Royal Bank of Scotland Group plc | | | 2.55 | | | | 9-18-15 | | | | 16,058,000 | | | | 16,430,321 | | | | 0.45 | |
Other securities | | | | | | | | | | | | | | | 76,241,186 | | | | 2.07 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| | | | | | | | | | | | | | | 92,671,507 | | | | 2.52 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
| Real Estate Management & Development: 0.06% | | | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | | | 2,041,544 | | | | 0.06 | |
| | | | | | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Summary portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 103 | |
CORE BOND PORTFOLIO
| | | | | | | | | | | | | | | | | | |
| Security name | | | | | | | Principal | | | Value | | | Percent of
net assets | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
| Thrifts & Mortgage Finance: 0.50% | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | $ | 18,592,236 | | | | 0.50 | % |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Health Care: 0.10% | | | | | | | | | | | | | | | | | | |
| | | | | |
| Pharmaceuticals: 0.10% | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | 3,803,376 | | | | 0.10 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Information Technology: 0.07% | | | | | | | | | | | | | | | | | | |
| | | | | |
| Internet Software & Services: 0.07% | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | 2,497,847 | | | | 0.07 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Materials: 0.69% | | | | | | | | | | | | | | | | | | |
| | | | | |
| Metals & Mining: 0.69% | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | 25,459,531 | | | | 0.69 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Telecommunication Services: 0.86% | | | | | | | | | | | | | | | | | | |
| | | | | |
| Diversified Telecommunication Services: 0.35% | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | 12,862,416 | | | | 0.35 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
| Wireless Telecommunication Services: 0.51% | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | 18,797,639 | | | | 0.51 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Utilities: 0.04% | | | | | | | | | | | | | | | | | | |
| | | | | |
| Electric Utilities: 0.04% | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | 1,495,813 | | | | 0.04 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Total Yankee Corporate Bonds and Notes (Cost $262,833,270) | | | | | | | | | | | | | 269,923,292 | | | | 7.33 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Yankee Government Bonds: 1.14% | | | | | | | | | | | | | | | | | | |
Other securities | | | | | | | | | | | | | 42,082,254 | | | | 1.14 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Total Yankee Government Bonds (Cost $40,721,279) | | | | | | | | | | | | | 42,082,254 | | | | 1.14 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Other: 0.03% | | | | | | | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (a)(i)(v) | | | | | | | | $ | 3,436,964 | | | | 1,134,198 | | | | 0.03 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Total Other (Cost $325,645) | | | | | | | | | | | | | 1,134,198 | | | | 0.03 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
| | | Yield | | | | | Shares | | | | | | | |
| | | | | |
Short-Term Investments: 7.66% | | | | | | | | | | | | | | | | | | |
| | | | | |
| Investment Companies: 7.66% | | | | | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund,
Select Class (l)(u)# | | | 0.16 | % | | | | | 201,172,161 | | | | 201,172,161 | | | | 5.46 | |
Wells Fargo Securities Lending Cash Investments, LLC (l)(u)(v)(r) | | | 0.21 | | | | | | 80,871,705 | | | | 80,871,705 | | | | 2.20 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Total Short-Term Investments (Cost $282,043,866) | | | | | | | | | | | | | 282,043,866 | | | | 7.66 | |
| | | | | | | | | | | | | | | | | | |
| | | | | |
| Total investments in securities | | | | | | | | | | | | | | | | | | |
| (Cost $4,144,093,171) * | | | | | | | | | | | | | 4,224,823,589 | | | | 114.70 | |
Other assets and liabilities, net | | | | | | | | | | | | | (541,582,748 | ) | | | (14.70 | ) |
| | | | | | | | | | | | | | | | | | |
| | | | | |
Total net assets | | | | | | | | | | | | $ | 3,683,240,841 | | | | 100.00 | % |
| | | | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 104 | | Wells Fargo Advantage Allocation Funds | | Summary portfolio of investments—November 30, 2012 (unaudited) |
CORE BOND PORTFOLIO
| %% | Security issued on a when-issued basis |
| ## | All or a portion of this security has been segregated for when-issued securities. |
| ± | Variable rate investment |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| 144A | Security that may be resold to “qualified institutional buyers” under Rule 144A or security offered pursuant to Section 4(2) of the Securities Act of 1933, as amended. |
| « | All or a portion of this security is on loan. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| (l) | Investment in an affiliate |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| # | All or a portion of this security is segregated as collateral for investments in derivative instruments. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| * | Cost for federal income tax purposes is $4,149,567,914 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 77,428,474 | |
Gross unrealized depreciation | | | (2,172,799 | ) |
| | | | |
Net unrealized appreciation | | $ | 75,255,675 | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 105 | |
INFLATION-PROTECTED BOND PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
U.S. Treasury Securities: 98.67% | | | | | | | | | | | | | | | | |
TIPS | | | 0.13 | % | | | 4-15-16 | | | $ | 3,616,842 | | | $ | 3,809,833 | |
TIPS | | | 0.13 | | | | 4-15-17 | | | | 1,355,017 | | | | 1,453,362 | |
TIPS | | | 0.13 | | | | 1-15-22 | | | | 3,215,448 | | | | 3,523,427 | |
TIPS | | | 0.13 | | | | 7-15-22 | | | | 2,671,647 | | | | 2,928,584 | |
TIPS | | | 0.50 | | | | 4-15-15 | | | | 1,943,378 | | | | 2,025,668 | |
TIPS | | | 0.63 | | | | 7-15-21 | | | | 3,747,492 | | | | 4,290,293 | |
TIPS | | | 0.75 | | | | 2-15-42 | | | | 1,761,435 | | | | 1,962,762 | |
TIPS | | | 1.13 | | | | 1-15-21 | | | | 3,422,080 | | | | 4,043,670 | |
TIPS | | | 1.25 | | | | 4-15-14 | | | | 1,880,682 | | | | 1,937,250 | |
TIPS | | | 1.25 | | | | 7-15-20 | | | | 3,071,798 | | | | 3,666,000 | |
TIPS | | | 1.38 | | | | 7-15-18 | | | | 1,963,773 | | | | 2,294,239 | |
TIPS « | | | 1.38 | | | | 1-15-20 | | | | 1,910,129 | | | | 2,275,888 | |
TIPS | | | 1.63 | | | | 1-15-15 | | | | 2,120,808 | | | | 2,250,707 | |
TIPS | | | 1.63 | | | | 1-15-18 | | | | 1,192,936 | | | | 1,388,651 | |
TIPS | | | 1.75 | | | | 1-15-28 | | | | 1,331,007 | | | | 1,739,980 | |
TIPS | | | 1.88 | | | | 7-15-15 | | | | 1,844,004 | | | | 2,009,100 | |
TIPS | | | 1.88 | | | | 7-15-19 | | | | 1,712,357 | | | | 2,094,827 | |
TIPS | | | 2.00 | | | | 1-15-14 | | | | 1,778,351 | | | | 1,835,870 | |
TIPS | | | 2.00 | | | | 7-15-14 | | | | 2,455,260 | | | | 2,588,382 | |
TIPS | | | 2.00 | | | | 1-15-16 | | | | 2,075,302 | | | | 2,304,397 | |
TIPS | | | 2.00 | | | | 1-15-26 | | | | 2,168,574 | | | | 2,866,922 | |
TIPS | | | 2.13 | | | | 1-15-19 | | | | 1,675,979 | | | | 2,045,217 | |
TIPS | | | 2.13 | | | | 2-15-40 | | | | 974,264 | | | | 1,450,588 | |
TIPS | | | 2.13 | | | | 2-15-41 | | | | 2,007,692 | | | | 3,011,068 | |
TIPS | | | 2.38 | | | | 1-15-17 | | | | 2,294,940 | | | | 2,675,397 | |
TIPS | | | 2.38 | | | | 1-15-25 | | | | 2,768,306 | | | | 3,768,140 | |
TIPS | | | 2.38 | | | | 1-15-27 | | | | 1,181,894 | | | | 1,644,402 | |
TIPS | | | 2.50 | | | | 7-15-16 | | | | 2,429,181 | | | | 2,796,405 | |
TIPS | | | 2.50 | | | | 1-15-29 | | | | 1,455,030 | | | | 2,098,085 | |
TIPS | | | 2.63 | | | | 7-15-17 | | | | 580,585 | | | | 697,791 | |
TIPS | | | 3.38 | | | | 4-15-32 | | | | 638,808 | | | | 1,066,710 | |
TIPS | | | 3.63 | | | | 4-15-28 | | | | 1,817,014 | | | | 2,910,205 | |
TIPS | | | 3.88 | | | | 4-15-29 | | | | 1,485,039 | | | | 2,486,510 | |
| | | | |
Total U.S. Treasury Securities (Cost $69,617,657) | | | | | | | | | | | | | | | 79,940,330 | |
| | | | | | | | | | | | | | | | |
| | | | |
Other: 0.22% | | | | | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (i)(a)(v) | | | | | | | | | | | 548,184 | | | | 180,901 | |
| | | | |
Total Other (Cost $51,939) | | | | | | | | | | | | | | | 180,901 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Short-Term Investments: 2.99% | | Yield | | | | | | Shares | | | | |
| | | | |
| Investment Companies: 2.99% | | | | | | | | | | | | | | | | |
Wells Fargo Advantage Government Money Market Fund, Institutional Class (l)(u) | | | 0.01 | | | | | | | | 643,913 | | | | 643,913 | |
Wells Fargo Securities Lending Cash Investments, LLC (v)(l)(u)(r) | | | 0.21 | | | | | | | | 1,778,061 | | | | 1,778,061 | |
| | | | |
Total Short-Term Investments (Cost $2,421,974) | | | | | | | | | | | | | | | 2,421,974 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | |
| Total investments in securities | | | | | | | | |
| (Cost $72,091,570)* | | | 101.88 | % | | | 82,543,205 | |
Other assets and liabilities, net | | | (1.88 | ) | | | (1,523,384 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 81,019,821 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 106 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
INFLATION-PROTECTED BOND PORTFOLIO
| « | All or a portion of this security is on loan. |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| (l) | Investment in an affiliate |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| * | Cost for federal income tax purposes is $72,446,513 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 10,096,692 | |
Gross unrealized depreciation | | | 0 | |
| | | | |
Net unrealized appreciation | | $ | 10,096,692 | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 107 | |
MANAGED FIXED INCOME PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Agency Securities: 33.32% | | | | | | | | | | | | | | | | |
FHLMC | | | 3.50 | % | | | 9-1-32 | | | $ | 1,435,184 | | | $ | 1,566,144 | |
FHLMC Multifamily Structured Pass-Through Securities Series K701 ± | | | 3.88 | | | | 11-25-17 | | | | 1,200,000 | | | | 1,354,064 | |
FHLMC Structured Pass-Through Securities Series T-20 Class A6 | | | 7.42 | | | | 9-25-29 | | | | 258,320 | | | | 272,593 | |
FHLMC Structured Pass-Through Securities Series T-58 Class 4A | | | 7.50 | | | | 9-25-43 | | | | 1,570,734 | | | | 1,869,106 | |
FNMA %% | | | 2.50 | | | | 12-1-27 | | | | 1,200,000 | | | | 1,254,187 | |
FNMA | | | 3.50 | | | | 9-1-32 | | | | 2,846,686 | | | | 3,090,434 | |
FNMA | | | 3.50 | | | | 10-1-32 | | | | 1,267,926 | | | | 1,376,492 | |
FNMA | | | 3.50 | | | | 11-1-42 | | | | 475,000 | | | | 508,547 | |
FNMA | | | 3.50 | | | | 11-1-42 | | | | 800,000 | | | | 856,500 | |
FNMA %% | | | 3.50 | | | | 12-1-42 | | | | 925,000 | | | | 987,293 | |
FNMA | | | 5.00 | | | | 9-1-33 | | | | 817,742 | | | | 891,430 | |
FNMA | | | 5.50 | | | | 2-1-36 | | | | 2,202,063 | | | | 2,364,956 | |
FNMA Grantor Trust Series 2002-T4 Class A2 | | | 7.00 | | | | 12-25-41 | | | | 340,534 | | | | 385,299 | |
FNMA Grantor Trust Series 2004-T2 Class 1A1 | | | 6.00 | | | | 11-25-43 | | | | 1,449,589 | | | | 1,633,806 | |
FNMA Grantor Trust Series 2004-T3 Class A1 | | | 6.00 | | | | 2-25-44 | | | | 2,069,320 | | | | 2,321,936 | |
FNMA Series 2002-90 Class A2 | | | 6.50 | | | | 11-25-42 | | | | 675,633 | | | | 783,203 | |
FNMA Series 2003-86 Class PT | | | 4.50 | | | | 9-25-18 | | | | 849,238 | | | | 911,241 | |
FNMA Series 2003-97 Class CA | | | 5.00 | | | | 10-25-18 | | | | 1,511,093 | | | | 1,633,813 | |
FNMA Series 2003-W4 Class 3A ± | | | 6.83 | | | | 10-25-42 | | | | 571,628 | | | | 673,635 | |
FNMA Series 2004-W1 Class 2A2 | | | 7.00 | | | | 12-25-33 | | | | 320,507 | | | | 387,097 | |
FNMA Series 2006-M2 Class A2F ± | | | 5.26 | | | | 5-25-20 | | | | 2,879,210 | | | | 3,289,969 | |
FNMA Whole Loan Series 2002-W4 Class A4 | | | 6.25 | | | | 5-25-42 | | | | 2,942,617 | | | | 3,344,620 | |
FNMA Whole Loan Series 2004-W11 Class 1A3 | | | 7.00 | | | | 5-25-44 | | | | 1,736,158 | | | | 1,963,046 | |
FNMA Whole Loan Series 2004-W8 Class 3A | | | 7.50 | | | | 6-25-44 | | | | 809,284 | | | | 957,472 | |
GNMA | | | 6.50 | | | | 10-15-23 | | | | 75,986 | | | | 87,363 | |
GNMA | | | 6.50 | | | | 11-15-23 | | | | 28,908 | | | | 33,280 | |
GNMA | | | 6.50 | | | | 11-15-23 | | | | 38,876 | | | | 44,696 | |
GNMA | | | 6.50 | | | | 12-15-23 | | | | 42,846 | | | | 49,180 | |
GNMA | | | 6.50 | | | | 1-15-24 | | | | 80,873 | | | | 93,660 | |
GNMA | | | 7.00 | | | | 8-15-27 | | | | 181,081 | | | | 213,723 | |
SBA Participation Certificates Series 2003-P10A Class 1 | | | 4.52 | | | | 2-10-13 | | | | 24,920 | | | | 25,115 | |
SBA Participation Certificates Series 2006-20B Class 1 | | | 5.35 | | | | 2-1-26 | | | | 1,405,442 | | | | 1,606,936 | |
SBA Participation Certificates Series 2006-20H Class 1 | | | 5.70 | | | | 8-1-26 | | | | 682,082 | | | | 787,183 | |
SBA Participation Certificates Series 2007-20J Class 1 | | | 5.57 | | | | 10-1-27 | | | | 1,281,206 | | | | 1,490,703 | |
U.S. Department of Housing & Urban Development Series 04-A | | | 5.08 | | | | 8-1-13 | | | | 1,300,000 | | | | 1,341,800 | |
| | | | |
Total Agency Securities (Cost $37,581,500) | | | | | | | | | | | | | | | 40,450,522 | |
| | | | | | | | | | | | | | | | |
| | | | |
Asset-Backed Securities: 4.96% | | | | | | | | | | | | | | | | |
Countrywide Asset Backed Certificates Series 2007-S2 Class A6 ± | | | 5.78 | | | | 5-25-37 | | | | 842,884 | | | | 710,625 | |
GMAC Mortgage Corporation Loan Trust Series 2005-HE1 Class A1VN ± | | | 0.43 | | | | 8-25-35 | | | | 228,129 | | | | 157,956 | |
Green Tree Financial Corporation Series 1997-7 Class A8 ± | | | 6.86 | | | | 7-15-28 | | | | 303,532 | | | | 316,449 | |
GSAMP Trust Series 2005-SEA1 Class A ±144A | | | 0.55 | | | | 1-25-35 | | | | 124,939 | | | | 122,187 | |
HFC Home Equity Loan Asset Backed Certificates Series 2005-2 Class A1 ± | | | 0.48 | | | | 1-20-35 | | | | 1,466,051 | | | | 1,424,946 | |
KeyCorp Student Loan Trust Series 1999-B Class CTFS ± | | | 1.03 | | | | 11-25-36 | | | | 1,800,000 | | | | 1,447,076 | |
RAAC Series 2007-RP4 Class A ±144A | | | 0.56 | | | | 11-25-46 | | | | 1,594,569 | | | | 888,070 | |
Wachovia Asset Securitization Incorporated Series 2007-HE2A Class A ±144A | | | 0.34 | | | | 7-25-37 | | | | 1,174,373 | | | | 953,121 | |
| | | | |
Total Asset-Backed Securities (Cost $7,525,413) | | | | | | | | | | | | | | | 6,020,430 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 108 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
MANAGED FIXED INCOME PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Corporate Bonds and Notes: 28.35% | | | | | | | | | | | | | | | | |
| | | | |
Consumer Discretionary: 2.72% | | | | | | | | | | | | | | | | |
| | | | |
| Diversified Consumer Services: 1.94% | | | | | | | | | | | | | | | | |
Dartmouth College | | | 4.75 | % | | | 6-1-19 | | | $ | 600,000 | | | $ | 708,750 | |
Massachusetts Institute of Technology | | | 7.25 | | | | 11-2-96 | | | | 500,000 | | | | 848,180 | |
Pepperdine University | | | 5.45 | | | | 8-1-19 | | | | 600,000 | | | | 731,304 | |
Stewart Enterprises Incorporated | | | 6.50 | | | | 4-15-19 | | | | 60,000 | | | | 64,500 | |
| | | | |
| | | | | | | | | | | | | | | 2,352,734 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Media: 0.78% | | | | | | | | | | | | | | | | |
DIRECTV Holdings LLC | | | 2.40 | | | | 3-15-17 | | | | 400,000 | | | | 409,867 | |
Pearson Dollar Finance Two plc 144A | | | 6.25 | | | | 5-6-18 | | | | 325,000 | | | | 395,289 | |
Time Warner Incorporated | | | 3.40 | | | | 6-15-22 | | | | 140,000 | | | | 146,075 | |
| | | | |
| | | | | | | | | | | | | | | 951,231 | |
| | | | | | | | | | | | | | | | |
| | | | |
Consumer Staples: 2.69% | | | | | | | | | | | | | | | | |
| | | | |
| Food & Staples Retailing: 0.95% | | | | | | | | | | | | | | | | |
SABMiller Holdings Incorporated 144A | | | 3.75 | | | | 1-15-22 | | | | 500,000 | | | | 542,311 | |
Wal-Mart Stores Incorporated | | | 5.80 | | | | 2-15-18 | | | | 500,000 | | | | 617,240 | |
| | | | |
| | | | | | | | | | | | | | | 1,159,551 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Food Products: 1.36% | | | | | | | | | | | | | | | | |
Cargill Incorporated 144A | | | 4.31 | | | | 5-14-21 | | | | 419,000 | | | | 464,644 | |
Kellogg Company | | | 4.00 | | | | 12-15-20 | | | | 500,000 | | | | 562,136 | |
Kraft Foods Incorporated 144A | | | 3.50 | | | | 6-6-22 | | | | 300,000 | | | | 320,101 | |
McCormick & Company Incorporated | | | 5.75 | | | | 12-15-17 | | | | 250,000 | | | | 301,162 | |
| | | | |
| | | | | | | | | | | | | | | 1,648,043 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Household Products: 0.38% | | | | | | | | | | | | | | | | |
Procter & Gamble Company | | | 1.45 | | | | 8-15-16 | | | | 450,000 | | | | 461,156 | |
| | | | | | | | | | | | | | | | |
| | | | |
Energy: 1.48% | | | | | | | | | | | | | | | | |
| | | | |
| Oil, Gas & Consumable Fuels: 1.48% | | | | | | | | | | | | | | | | |
Apache Corporation | | | 3.25 | | | | 4-15-22 | | | | 250,000 | | | | 266,960 | |
Devon Energy Corporation | | | 1.88 | | | | 5-15-17 | | | | 300,000 | | | | 306,931 | |
EQT Corporation | | | 8.13 | | | | 6-1-19 | | | | 650,000 | | | | 811,766 | |
Phillips 66 144A | | | 2.95 | | | | 5-1-17 | | | | 390,000 | | | | 415,599 | |
| | | | |
| | | | | | | | | | | | | | | 1,801,256 | |
| | | | | | | | | | | | | | | | |
| | | | |
Financials: 13.76% | | | | | | | | | | | | | | | | |
| | | | |
| Capital Markets: 1.41% | | | | | | | | | | | | | | | | |
Bank of New York Mellon Corporation | | | 2.30 | | | | 7-28-16 | | | | 250,000 | | | | 262,088 | |
Charles Schwab Corporation | | | 6.38 | | | | 9-1-17 | | | | 500,000 | | | | 604,507 | |
Goldman Sachs Capital II ± | | | 1.08 | | | | 6-1-43 | | | | 115,000 | | | | 89,246 | |
Goldman Sachs Group Incorporated | | | 5.75 | | | | 1-24-22 | | | | 200,000 | | | | 237,224 | |
Morgan Stanley | | | 4.10 | | | | 1-26-15 | | | | 500,000 | | | | 519,714 | |
| | | | |
| | | | | | | | | | | | | | | 1,712,779 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 109 | |
MANAGED FIXED INCOME PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
| Commercial Banks: 5.62% | | | | | | | | | | | | | | | | |
Chase Capital VI ± | | | 0.94 | % | | | 8-1-28 | | | $ | 1,000,000 | | | $ | 782,199 | |
Colonial Bank NA (s) | | | 6.38 | | | | 12-1-15 | | | | 1,978,000 | | | | 198 | |
CoreStates Capital Trust II ±144A | | | 0.99 | | | | 1-15-27 | | | | 750,000 | | | | 619,601 | |
HSBC Capital Funding LP ±144A | | | 4.61 | | | | 12-31-49 | | | | 600,000 | | | | 595,358 | |
Manufacturers & Traders Trust Company ± | | | 5.59 | | | | 12-28-20 | | | | 758,000 | | | | 755,800 | |
National Capital Commerce Incorporated ± | | | 1.34 | | | | 4-1-27 | | | | 400,000 | | | | 302,288 | |
National City Bank ± | | | 0.78 | | | | 6-7-17 | | | | 500,000 | | | | 488,397 | |
NTC Capital Trust Series A ± | | | 0.86 | | | | 1-15-27 | | | | 450,000 | | | | 378,379 | |
Regions Financial Corporation | | | 5.75 | | | | 6-15-15 | | | | 760,000 | | | | 820,800 | |
TCF National Bank ± | | | 2.02 | | | | 6-15-14 | | | | 1,375,000 | | | | 1,375,785 | |
UBS Preferred Funding Trust V Series 1 ± | | | 6.24 | | | | 5-29-49 | | | | 700,000 | | | | 708,750 | |
| | | | |
| | | | | | | | | | | | | | | 6,827,555 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Diversified Financial Services: 2.70% | | | | | | | | | | | | | | | | |
ABB Treasury Center USA Incorporated 144A | | | 4.00 | | | | 6-15-21 | | | | 510,000 | | | | 569,713 | |
Citigroup Incorporated | | | 6.13 | | | | 11-21-17 | | | | 435,000 | | | | 516,897 | |
Deutsche Bank Capital Funding Trust VII ±144A« | | | 5.63 | | | | 12-31-49 | | | | 500,000 | | | | 465,625 | |
General Electric Capital Corporation ± | | | 0.69 | | | | 5-5-26 | | | | 450,000 | | | | 392,192 | |
Toll Road Investors Partnership II LP 144A¤ | | | 0.00 | | | | 2-15-15 | | | | 1,500,000 | | | | 1,329,410 | |
| | | | |
| | | | | | | | | | | | | | | 3,273,837 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Insurance: 1.61% | | | | | | | | | | | | | | | | |
Metropolitan Life Global Funding I 144A | | | 5.13 | | | | 6-10-14 | | | | 475,000 | | | | 506,597 | |
Minnesota Life Insurance Company 144A | | | 8.25 | | | | 9-15-25 | | | | 650,000 | | | | 842,154 | |
NLV Financial Corporation 144A | | | 7.50 | | | | 8-15-33 | | | | 565,000 | | | | 608,238 | |
| | | | |
| | | | | | | | | | | | | | | 1,956,989 | |
| | | | | | | | | | | | | | | | |
| | | | |
| REITs: 2.42% | | | | | | | | | | | | | | | | |
Boston Properties LP | | | 3.70 | | | | 11-15-18 | | | | 180,000 | | | | 195,303 | |
Duke Realty LP | | | 6.75 | | | | 3-15-20 | | | | 250,000 | | | | 302,394 | |
ERP Operation LP | | | 4.63 | | | | 12-15-21 | | | | 470,000 | | | | 529,882 | |
Liberty Property LP | | | 6.63 | | | | 10-1-17 | | | | 400,000 | | | | 481,400 | |
Potlatch Corporation | | | 7.50 | | | | 11-1-19 | | | | 160,000 | | | | 172,800 | |
Realty Income Corporation | | | 5.50 | | | | 11-15-15 | | | | 400,000 | | | | 445,007 | |
Simon Property Group LP | | | 2.15 | | | | 9-15-17 | | | | 500,000 | | | | 517,333 | |
UDR Incorporated | | | 4.63 | | | | 1-10-22 | | | | 260,000 | | | | 288,226 | |
| | | | |
| | | | | | | | | | | | | | | 2,932,345 | |
| | | | | | | | | | | | | | | | |
| | | | |
Health Care: 0.52% | | | | | | | | | | | | | | | | |
| | | | |
| Health Care Providers & Services: 0.52% | | | | | | | | | | | | | | | | |
Roche Holdings Incorporated 144A | | | 6.00 | | | | 3-1-19 | | | | 500,000 | | | | 628,225 | |
| | | | | | | | | | | | | | | | |
| | | | |
Industrials: 3.23% | | | | | | | | | | | | | | | | |
| | | | |
| Aerospace & Defense: 1.06% | | | | | | | | | | | | | | | | |
BAE Systems plc 144A | | | 4.75 | | | | 10-11-21 | | | | 470,000 | | | | 530,924 | |
Lockheed Martin Corporation | | | 4.25 | | | | 11-15-19 | | | | 500,000 | | | | 568,941 | |
United Technologies Corporation | | | 3.10 | | | | 6-1-22 | | | | 180,000 | | | | 193,549 | |
| | | | |
| | | | | | | | | | | | | | | 1,293,414 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 110 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
MANAGED FIXED INCOME PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
| Commercial Services & Supplies: 0.31% | | | | | | | | | | | | | | | | |
Black & Decker « | | | 5.75 | % | | | 11-15-16 | | | $ | 325,000 | | | $ | 377,463 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Machinery: 0.43% | | | | | | | | | | | | | | | | |
Caterpillar Incorporated | | | 1.50 | | | | 6-26-17 | | | | 170,000 | | | | 173,030 | |
Deere & Company | | | 2.60 | | | | 6-8-22 | | | | 340,000 | | | | 347,439 | |
| | | | |
| | | | | | | | | | | | | | | 520,469 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Road & Rail: 1.08% | | | | | | | | | | | | | | | | |
Burlington Northern Santa Fe LLC | | | 5.65 | | | | 5-1-17 | | | | 200,000 | | | | 237,717 | |
Ryder System Incorporated Series MTN | | | 3.15 | | | | 3-2-15 | | | | 565,000 | | | | 584,529 | |
Union Pacific Corporation | | | 2.95 | | | | 1-15-23 | | | | 250,000 | | | | 259,866 | |
Union Pacific Corporation | | | 7.88 | | | | 1-15-19 | | | | 171,000 | | | | 223,960 | |
| | | | |
| | | | | | | | | | | | | | | 1,306,072 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Transportation Infrastructure: 0.35% | | | | | | | | | | | | | | | | |
Vessel Management Service | | | 3.43 | | | | 8-15-36 | | | | 408,000 | | | | 424,854 | |
| | | | | | | | | | | | | | | | |
| | | | |
Information Technology: 0.67% | | | | | | | | | | | | | | | | |
| | | | |
| Electronic Equipment, Instruments & Components: 0.24% | | | | | | | | | | | | | | | | |
Jabil Circuit Incorporated | | | 8.25 | | | | 3-15-18 | | | | 250,000 | | | | 293,750 | |
| | | | | | | | | | | | | | | | |
| | | | |
| IT Services: 0.43% | | | | | | | | | | | | | | | | |
Fiserv Incorporated | | | 3.13 | | | | 10-1-15 | | | | 500,000 | | | | 524,859 | |
| | | | | | | | | | | | | | | | |
| | | | |
Materials: 1.44% | | | | | | | | | | | | | | | | |
| | | | |
| Chemicals: 0.67% | | | | | | | | | | | | | | | | |
Valspar Corporation | | | 5.10 | | | | 8-1-15 | | | | 750,000 | | | | 813,392 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Metals & Mining: 0.77% | | | | | | | | | | | | | | | | |
International Steel Group | | | 6.50 | | | | 4-15-14 | | | | 100,000 | | | | 104,288 | |
Rio Tinto Finance USA Limited | | | 3.75 | | | | 9-20-21 | | | | 370,000 | | | | 400,333 | |
Steel Dynamics Incorporated | | | 6.75 | | | | 4-1-15 | | | | 185,000 | | | | 188,238 | |
Teck Resources Limited Company | | | 3.00 | | | | 3-1-19 | | | | 240,000 | | | | 244,061 | |
| | | | |
| | | | | | | | | | | | | | | 936,920 | |
| | | | | | | | | | | | | | | | |
| | | | |
Telecommunication Services: 0.28% | | | | | | | | | | | | | | | | |
| | | | |
| Diversified Telecommunication Services: 0.28% | | | | | | | | | | | | | | | | |
AT&T Incorporated | | | 1.60 | | | | 2-15-17 | | | | 330,000 | | | | 335,409 | |
| | | | | | | | | | | | | | | | |
| | | | |
Utilities: 1.56% | | | | | | | | | | | | | | | | |
| | | | |
| Electric Utilities: 1.56% | | | | | | | | | | | | | | | | |
Carolina Power & Light Company | | | 2.80 | | | | 5-15-22 | | | | 400,000 | | | | 415,645 | |
Connecticut Light & Power | | | 5.38 | | | | 3-1-17 | | | | 250,000 | | | | 287,879 | |
Great River Energy 144A | | | 5.83 | | | | 7-1-17 | | | | 676,324 | | | | 727,914 | |
Otter Tail Corporation | | | 9.00 | | | | 12-15-16 | | | | 350,000 | | | | 409,500 | |
Wisconsin Electric Power Company | | | 2.95 | | | | 9-15-21 | | | | 50,000 | | | | 52,707 | |
| | | | |
| | | | | | | | | | | | | | | 1,893,645 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Corporate Bonds and Notes (Cost $33,973,510) | | | | | | | | | | | | | | | 34,425,948 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 111 | |
MANAGED FIXED INCOME PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Municipal Obligations: 9.25% | | | | | | | | | | | | | | | | |
| | | | |
| Arizona: 0.81% | | | | | | | | | | | | | | | | |
Maricopa County AZ Elementary School District #28 Kyrene Elementary (Tax Revenue) | | | 5.38 | % | | | 7-1-19 | | | $ | 800,000 | | | $ | 985,240 | |
| | | | | | | | | | | | | | | | |
| | | | |
| California: 0.23% | | | | | | | | | | | | | | | | |
California State Build America Bonds Taxable Various Purpose (GO) | | | 7.50 | | | | 4-1-34 | | | | 200,000 | | | | 278,628 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Connecticut: 0.15% | | | | | | | | | | | | | | | | |
Connecticut State Taxable Series B (GO) | | | 2.20 | | | | 10-15-20 | | | | 175,000 | | | | 178,448 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Georgia: 0.53% | | | | | | | | | | | | | | | | |
Cherokee County GA School System Build America Bonds (Tax Revenue, State Aid Withholding Insured) | | | 5.87 | | | | 8-1-28 | | | | 500,000 | | | | 638,225 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Indiana: 0.47% | | | | | | | | | | | | | | | | |
Indiana State Housing & CDA Series A-2 (Housing Revenue, GNMA/FNMA Insured) | | | 5.51 | | | | 1-1-39 | | | | 540,000 | | | | 566,325 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Kentucky: 0.32% | | | | | | | | | | | | | | | | |
Kentucky Housing Corporation Series D (Housing Revenue) | | | 5.75 | | | | 7-1-37 | | | | 375,000 | | | | 387,270 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Maryland: 0.25% | | | | | | | | | | | | | | | | |
Baltimore County MD Taxable (GO) | | | 3.57 | | | | 8-1-32 | | | | 300,000 | | | | 304,695 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Massachusetts: 0.85% | | | | | | | | | | | | | | | | |
Boston MA Taxable Series C Qualified School Construction Bonds (Tax Revenue) | | | 4.40 | | | | 4-1-26 | | | | 400,000 | | | | 464,696 | |
Massachusetts State Build America Bonds Series D (Tax Revenue) | | | 4.50 | | | | 8-1-31 | | | | 500,000 | | | | 573,290 | |
| | | | |
| | | | | | | | | | | | | | | 1,037,986 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Minnesota: 0.28% | | | | | | | | | | | | | | | | |
Minnesota State Housing Finance Agency Series H (Housing Revenue) | | | 5.85 | | | | 7-1-36 | | | | 335,000 | | | | 335,821 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Missouri: 0.51% | | | | | | | | | | | | | | | | |
Missouri Higher Education Loan Authority Notes Class A-1 (Education Revenue) ± | | | 1.16 | | | | 8-27-29 | | | | 614,695 | | | | 615,764 | |
| | | | | | | | | | | | | | | | |
| | | | |
| New Hampshire: 0.59% | | | | | | | | | | | | | | | | |
New Hampshire HFA SFMR Series D (Housing Revenue) | | | 5.53 | | | | 7-1-37 | | | | 690,000 | | | | 711,770 | |
| | | | | | | | | | | | | | | | |
| | | | |
| New Jersey: 1.07% | | | | | | | | | | | | | | | | |
Hudson County NJ Improvement Authority Facilities (Lease Revenue, FSA Insured) | | | 7.40 | | | | 12-1-25 | | | | 1,030,000 | | | | 1,305,783 | |
| | | | | | | | | | | | | | | | |
| | | | |
| North Carolina: 0.56% | | | | | | | | | | | | | | | | |
Duke University North Carolina Series A (Education Revenue, GO of University Insured) | | | 5.85 | | | | 4-1-37 | | | | 500,000 | | | | 686,335 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Ohio: 0.61% | | | | | | | | | | | | | | | | |
Ohio State Housing Finance Agency Series O (Housing Revenue, GNMA/FNMA Insured) | | | 5.47 | | | | 9-1-25 | | | | 705,000 | | | | 738,650 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Texas: 0.75% | | | | | | | | | | | | | | | | |
Clear Creek TX Independent School District Taxable Refunding Series B (GO) | | | 3.40 | | | | 2-15-22 | | | | 375,000 | | | | 407,100 | |
Harris County TX Taxable Refunding Permanent Improvement Series B (GO) | | | 2.12 | | | | 10-1-21 | | | | 500,000 | | | | 499,715 | |
| | | | |
| | | | | | | | | | | | | | | 906,815 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 112 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
MANAGED FIXED INCOME PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
| Washington: 0.23% | | | | | | | | | | | | | | | | |
King County WA Build America Bonds Recovery Zone Economic Development Taxable Series C (GO) | | | 5.03 | % | | | 12-1-23 | | | $ | 230,000 | | | $ | 282,194 | |
| | | | | | | | | | | | | | | | |
| | | | |
| West Virginia: 0.43% | | | | | | | | | | | | | | | | |
Ohio County WV Special District Excise Tax Series A (Tax Revenue) | | | 8.25 | | | | 3-1-35 | | | | 500,000 | | | | 525,540 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Wisconsin: 0.61% | | | | | | | | | | | | | | | | |
Wisconsin Housing & EDA Home Ownership Revenue Series F (Housing Revenue, GO of Authority Insured) | | | 5.73 | | | | 9-1-37 | | | | 740,000 | | | | 741,265 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Municipal Obligations (Cost $10,259,810) | | | | | | | | | | | | | | | 11,226,754 | |
| | | | | | | | | | | | | | | | |
| | | | |
Non-Agency Mortgage Backed Securities: 15.01% | | | | | | | | | | | | | | | | |
Countrywide Alternative Loan Trust Series 2005-27 Class 3A1 ± | | | 1.54 | | | | 8-25-35 | | | | 977,480 | | | | 690,697 | |
Countrywide Home Loans Series 2005-R3 Class AF ±144A | | | 0.61 | | | | 9-25-35 | | | | 1,484,542 | | | | 1,245,814 | |
Countrywide Home Loans Series 2006-OA5 Class 1A1 ± | | | 0.41 | | | | 4-25-46 | | | | 1,478,182 | | | | 1,045,482 | |
Credit Suisse First Boston Mortgage Securities Corporation Series 2004-AR5
Class 10A1 ± | | | 2.74 | | | | 6-25-34 | | | | 970,525 | | | | 958,033 | |
Credit Suisse Mortgage Capital Certification Series 2007-C1 Class AAB | | | 5.34 | | | | 2-15-40 | | | | 1,747,848 | | | | 1,831,683 | |
Harborview Mortgage Loan Trust Series 2004-11 Class 3A2A ± | | | 0.55 | | | | 1-19-35 | | | | 39,101 | | | | 30,388 | |
JPMorgan Chase Commercial Mortgage Securities Corporation Series 2006-LDP7 Class ASB ± | | | 6.06 | | | | 4-15-45 | | | | 1,678,530 | | | | 1,777,652 | |
LF Rothschild Mortgage Trust Series 2 Class Z | | | 9.95 | | | | 8-1-17 | | | | 13,282 | | | | 14,344 | |
Merrill Lynch Mortgage Trust Series 2006-C2 Class A2 ± | | | 5.76 | | | | 8-12-43 | | | | 1,141,578 | | | | 1,186,905 | |
Nomura Asset Acceptance Corporation Series 2004-R2 Class A1 ±144A | | | 6.50 | | | | 10-25-34 | | | | 1,497,011 | | | | 1,511,741 | |
Sequoia Mortgage Trust Series 10 Class 1A ± | | | 1.01 | | | | 10-20-27 | | | | 631,858 | | | | 626,790 | |
Structured Asset Securities Corporation Series 2007-RM1 Class A1 ±144A(a) | | | 0.49 | | | | 5-25-47 | | | | 2,640,880 | | | | 1,475,724 | |
Wachovia Bank Commercial Mortgage Trust Series 2005-C16 Class A4 ± | | | 4.85 | | | | 10-15-41 | | | | 1,475,000 | | | | 1,584,358 | |
Washington Mutual Commercial Mortgage Securities Trust Series 2007-SL3 Class A1 ±144A | | | 6.11 | | | | 3-23-45 | | | | 1,353,520 | | | | 1,368,314 | |
Washington Mutual Mortgage Pass-Through Certificates Series 2005-AR6
Class 2A1A ± | | | 0.44 | | | | 4-25-45 | | | | 760,497 | | | | 714,323 | |
Washington Mutual Mortgage Pass-Through Certificates Series 2006-AR3
Class A1A ± | | | 1.15 | | | | 2-25-46 | | | | 1,718,016 | | | | 1,540,669 | |
Washington Mutual Mortgage Pass-Through Certificates Series 2006-AR4
Class DA ± | | | 1.13 | | | | 6-25-46 | | | | 1,308,440 | | | | 623,907 | |
| | | | |
Total Non-Agency Mortgage Backed Securities (Cost $20,990,584) | | | | | | | | | | | | | | | 18,226,824 | |
| | | | | | | | | | | | | | | | |
| | | | |
Term Loans: 0.29% | | | | | | | | | | | | | | | | |
RMK Acquisition Corporation (Aramark) 1st Lien | | | 2.09 | | | | 1-27-14 | | | | 26,337 | | | | 26,266 | |
RMK Acquisition Corporation (Aramark) 1st Lien | | | 2.24 | | | | 1-27-14 | | | | 326,927 | | | | 326,050 | |
| | | | |
Total Term Loans (Cost $353,264) | | | | | | | | | | | | | | | 352,316 | |
| | | | | | | | | | | | | | | | |
| | | | |
U.S. Treasury Securities: 5.84% | | | | | | | | | | | | | | | | |
TIPS | | | 0.75 | | | | 2-15-42 | | | | 2,355,085 | | | | 2,624,264 | |
U.S. Treasury Bond | | | 2.75 | | | | 8-15-42 | | | | 1,275,000 | | | | 1,261,254 | |
U.S. Treasury Bond | | | 3.88 | | | | 8-15-40 | | | | 375,000 | | | | 460,488 | |
U.S. Treasury Bond | | | 4.25 | | | | 11-15-40 | | | | 2,105,000 | | | | 2,745,381 | |
| | | | |
Total U.S. Treasury Securities (Cost $5,926,839) | | | | | | | | | | | | | | | 7,091,387 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 113 | |
MANAGED FIXED INCOME PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Yankee Corporate Bonds and Notes: 1.39% | | | | | | | | | | | | | | | | |
| | | | |
Energy: 0.35% | | | | | | | | | | | | | | | | |
| | | | |
| Energy Equipment & Services: 0.35% | | | | | | | | | | | | | | | | |
Ensco plc | | | 4.70 | % | | | 3-15-21 | | | $ | 200,000 | | | $ | 227,483 | |
Weatherford International Limited | | | 4.50 | | | | 4-15-22 | | | | 190,000 | | | | 194,335 | |
| | | | |
| | | | | | | | | | | | | | | 421,818 | |
| | | | | | | | | | | | | | | | |
| | | | |
Financials: 1.04% | | | | | | | | | | | | | | | | |
| | | | |
| Commercial Banks: 0.56% | | | | | | | | | | | | | | | | |
Rabobank Nederland NV ±144A | | | 11.00 | | | | 12-29-49 | | | | 500,000 | | | | 677,750 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Diversified Financial Services: 0.48% | | | | | | | | | | | | | | | | |
Siemens Financieringsmaatschappij NV 144A | | | 5.75 | | | | 10-17-16 | | | | 500,000 | | | | 586,554 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Yankee Corporate Bonds and Notes (Cost $1,542,053) | | | | | | | | | | | | | | | 1,686,122 | |
| | | | | | | | | | | | | | | | |
| | | | |
Other: 0.07% | | | | | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (a)(i)(v) | | | | | | | | | | | 266,898 | | | | 88,076 | |
| | | | |
Total Other (Cost $25,288) | | | | | | | | | | | | | | | 88,076 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | Yield | | | | | | Shares | | | | |
| | | | |
Short-Term Investments: 3.73% | | | | | | | | | | | | | | | | |
| | | | |
| Investment Companies: 3.73% | | | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund, Select Class (l)(u)## | | | 0.16 | | | | | | | | 3,955,122 | | | | 3,955,122 | |
Wells Fargo Securities Lending Cash Investments, LLC (v)(l)(u)(r) | | | 0.21 | | | | | | | | 574,087 | | | | 574,087 | |
| | | | |
Total Short-Term Investments (Cost $4,529,209) | | | | | | | | | | | | | | | 4,529,209 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | |
Total investments in securities (Cost $122,707,470)* | | | 102.21 | % | | | 124,097,588 | |
Other assets and liabilities, net | | | (2.21 | ) | | | (2,686,173 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 121,411,415 | |
| | | | | | | | |
| ± | Variable rate investment |
| %% | Security issued on a when-issued basis. |
| 144A | Security that may be resold to “qualified institutional buyers” under Rule 144A or security offered pursuant to Section 4(2) of the Securities Act of 1933, as amended. |
| (s) | Security is currently in default with regards to scheduled interest and/or principal payments. The Fund has stopped accruing interest on this security. |
| « | All or a portion of this security is on loan. |
| ¤ | Security issued in zero coupon form with no periodic interest payments. |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| (l) | Investment in an affiliate |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| ## | All or a portion of this security has been segregated for when-issued securities. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| * | Cost for federal income tax purposes is $123,243,398 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 8,023,568 | |
Gross unrealized depreciation | | | (7,169,378 | ) |
| | | | |
Net unrealized appreciation | | $ | 854,190 | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 114 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
STABLE INCOME PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Agency Securities: 36.16% | | | | | | | | | | | | | | | | |
FHLMC | | | 6.00 | % | | | 7-1-17 | | | $ | 102,313 | | | $ | 111,246 | |
FHLMC | | | 7.50 | | | | 7-17-17 | | | | 97,035 | | | | 96,955 | |
FHLMC Series T-54 Class 4A ± | | | 3.11 | | | | 2-25-43 | | | | 632,657 | | | | 639,009 | |
FHLMC Structured Pass-Through Securities Series T-54 Class 3A | | | 7.00 | | | | 2-25-43 | | | | 556,996 | | | | 668,550 | |
FHLMC Structured Pass-Through Securities Series T-55 Class 1A2 | | | 7.00 | | | | 3-25-43 | | | | 900,888 | | | | 1,026,472 | |
FHLMC Structured Pass-Through Securities Series T-57 Class 1A2 | | | 7.00 | | | | 7-25-43 | | | | 741,790 | | | | 855,536 | |
FHLMC Structured Pass-Through Securities Series T-58 Class 4A | | | 7.50 | | | | 9-25-43 | | | | 922,806 | | | | 1,098,100 | |
FHLMC Structured Pass-Through Securities Series T-63 Class 1A1 ± | | | 1.35 | | | | 2-25-45 | | | | 562,305 | | | | 546,181 | |
FNMA ± | | | 1.35 | | | | 10-1-34 | | | | 372,678 | | | | 378,944 | |
FNMA ± | | | 1.35 | | | | 4-1-44 | | | | 253,542 | | | | 257,784 | |
FNMA ± | | | 1.35 | | | | 10-1-44 | | | | 381,725 | | | | 388,272 | |
FNMA ± | | | 1.74 | | | | 4-1-37 | | | | 304,357 | | | | 316,756 | |
FNMA ± | | | 1.78 | | | | 9-1-33 | | | | 232,859 | | | | 241,085 | |
FNMA ± | | | 1.82 | | | | 10-1-33 | | | | 599,892 | | | | 625,461 | |
FNMA ± | | | 2.31 | | | | 6-1-33 | | | | 456,444 | | | | 483,844 | |
FNMA ± | | | 2.34 | | | | 4-1-34 | | | | 506,094 | | | | 529,781 | |
FNMA ± | | | 2.38 | | | | 12-1-33 | | | | 365,727 | | | | 386,082 | |
FNMA ± | | | 2.38 | | | | 1-1-36 | | | | 319,810 | | | | 337,876 | |
FNMA ± | | | 2.41 | | | | 6-1-33 | | | | 314,107 | | | | 333,546 | |
FNMA ± | | | 2.54 | | | | 8-1-35 | | | | 434,784 | | | | 458,058 | |
FNMA ± | | | 2.62 | | | | 7-1-35 | | | | 331,725 | | | | 352,720 | |
FNMA ± | | | 3.00 | | | | 7-1-17 | | | | 35,427 | | | | 36,365 | |
FNMA | | | 5.50 | | | | 2-1-17 | | | | 191,400 | | | | 205,878 | |
FNMA | | | 6.50 | | | | 12-1-15 | | | | 51,275 | | | | 53,400 | |
FNMA Series 2002-90 Class A2 | | | 6.50 | | | | 11-25-42 | | | | 206,535 | | | | 239,418 | |
FNMA Series 2002-T12 Class A3 | | | 7.50 | | | | 5-25-42 | | | | 194,158 | | | | 231,154 | |
FNMA Series 2003-W4 Class 3A ± | | | 6.83 | | | | 10-25-42 | | | | 477,627 | | | | 562,860 | |
FNMA Series 2004-W2 Class 2A2 | | | 7.00 | | | | 2-25-44 | | | | 385,504 | | | | 444,850 | |
FNMA Series 2007-88 Class HC ± | | | 3.02 | | | | 9-25-37 | | | | 425,184 | | | | 427,413 | |
FNMA Whole Loan Series 2002-W10 Class A6 | | | 7.50 | | | | 8-25-42 | | | | 205,047 | | | | 246,700 | |
| | | | |
Total Agency Securities (Cost $11,830,664) | | | | | | | | | | | | | | | 12,580,296 | |
| | | | | | | | | | | | | | | | |
| | | | |
Asset-Backed Securities: 15.09% | | | | | | | | | | | | | | | | |
Ally Auto Receivables Trust Series 2011-2 Class A3 | | | 1.18 | | | | 4-15-15 | | | | 159,090 | | | | 159,697 | |
Ally Auto Receivables Trust Series 2011-4 Class A2 | | | 0.65 | | | | 3-17-14 | | | | 14,659 | | | | 14,665 | |
Ally Auto Receivables Trust Series 2011-5 Class A3 | | | 0.99 | | | | 11-16-15 | | | | 125,000 | | | | 125,791 | |
Ally Auto Receivables Trust Series 2012-5 Class A2 | | | 0.45 | | | | 7-15-15 | | | | 225,000 | | | | 224,947 | |
AmeriCredit Automobile Receivables Trust Series 2011-3 Class A2 | | | 0.84 | | | | 11-10-14 | | | | 39,622 | | | | 39,652 | |
AmeriCredit Automobile Receivables Trust Series 2011-4 Class A2 | | | 0.92 | | | | 3-9-15 | | | | 47,847 | | | | 47,914 | |
AmeriCredit Automobile Receivables Trust Series 2011-5 Class A2 | | | 1.19 | | | | 8-8-15 | | | | 73,907 | | | | 74,175 | |
AmeriCredit Automobile Receivables Trust Series 2012-4 Class A3 | | | 0.67 | | | | 6-8-17 | | | | 175,000 | | | | 175,106 | |
BMW Vehicle Owner Trust Series 2011-A Class A2 | | | 0.63 | | | | 2-25-14 | | | | 23,184 | | | | 23,195 | |
CNH Equipment Trust Series 2011-B Class A2 | | | 0.71 | | | | 12-15-14 | | | | 67,639 | | | | 67,701 | |
Ford Credit Auto Owner Trust Series 2011-B Class A3 | | | 0.84 | | | | 6-15-15 | | | | 100,000 | | | | 100,298 | |
GE Equipment Mid Ticket LLC Series 2011-1 Class A2 | | | 0.72 | | | | 5-22-14 | | | | 98,361 | | | | 98,423 | |
GE Equipment Small Ticket LLC Series 2011-2A Class A2 144A | | | 1.14 | | | | 6-23-14 | | | | 86,752 | | | | 86,911 | |
GE Equipment Small Ticket LLC Series 2012-A Class A2 144A | | | 0.85 | | | | 11-21-14 | | | | 175,000 | | | | 175,347 | |
GSAMP Trust Series 2005-SEA2 Class A1 ± | | | 0.56 | | | | 1-25-45 | | | | 512,801 | | | | 467,941 | |
GSMPS Mortgage Loan Trust Series 2005-RP2 Class 1AF ±144A | | | 0.56 | | | | 3-25-35 | | | | 362,992 | | | | 303,976 | |
GSMPS Mortgage Loan Trust Series 2005-RP3 Class 1AF ±144A | | | 0.56 | | | | 9-25-35 | | | | 380,855 | | | | 318,966 | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 115 | |
STABLE INCOME PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Asset-Backed Securities (continued) | | | | | | | | | | | | | | | | |
HFC Home Equity Loan Asset Backed Certificates Series 2005-2 Class A1 ± | | | 0.48 | % | | | 1-20-35 | | | $ | 516,783 | | | $ | 502,293 | |
Honda Auto Receivables Owner Trust Series 2011-3 Class A2 | | | 0.67 | | | | 4-21-14 | | | | 78,757 | | | | 78,845 | |
Honda Auto Receivables Owner Trust Series 2012-4 Class A2 | | | 0.40 | | | | 4-20-15 | | | | 275,000 | | | | 275,007 | |
Honda Auto Receivables Owner Trust Series 2012-4 Class A3 | | | 0.52 | | | | 8-18-16 | | | | 100,000 | | | | 100,042 | |
Household Home Equity Loan Trust Series 2006-1 Class A1 ± | | | 0.37 | | | | 1-20-36 | | | | 730,274 | | | | 719,336 | |
Huntington Auto Trust Series 2011-1A Class A3 144A | | | 1.01 | | | | 1-15-16 | | | | 175,000 | | | | 175,889 | |
Mercedes-Benz Auto Lease Trust Series 2011-B Class A2 144A | | | 0.90 | | | | 1-15-14 | | | | 78,204 | | | | 78,283 | |
Mercedes-Benz Auto Receivables Series 2011-1 Class A3 | | | 0.85 | | | | 3-16-15 | | | | 125,000 | | | | 125,326 | |
Morgan Stanley Dean Witter & Company Corporation Heloc Trust Series 2003-2 Class A ± | | | 0.73 | | | | 4-25-16 | | | | 28,486 | | | | 28,229 | |
Santander Drive Auto Receivables Trust Series 2011-4 Class A2 | | | 1.37 | | | | 3-16-15 | | | | 102,661 | | | | 103,044 | |
SBI Heloc Trust Series 2005-HE1 Class 1A ±144A | | | 0.40 | | | | 11-25-35 | | | | 310,922 | | | | 288,186 | |
Volkswagen Auto Lease Trust Series 2011-A Class A2 | | | 1.00 | | | | 2-20-14 | | | | 46,424 | | | | 46,501 | |
World Omni Auto Receivables Trust 2012-B Class A2 | | | 0.43 | | | | 11-16-15 | | | | 225,000 | | | | 224,953 | |
| | | | |
Total Asset-Backed Securities (Cost $5,459,545) | | | | | | | | | | | | | | | 5,250,639 | |
| | | | | | | | | | | | | | | | |
| | | | |
Corporate Bonds and Notes: 22.80% | | | | | | | | | | | | | | | | |
| | | | |
Consumer Discretionary: 1.38% | | | | | | | | | | | | | | | | |
| | | | |
| Automobiles: 0.44% | | | | | | | | | | | | | | | | |
Daimler Finance North America LLC 144A | | | 1.88 | | | | 9-15-14 | | | | 150,000 | | | | 152,173 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Diversified Consumer Services: 0.66% | | | | | | | | | | | | | | | | |
University of Notre Dame | | | 4.14 | | | | 9-1-13 | | | | 225,000 | | | | 230,675 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Media: 0.28% | | | | | | | | | | | | | | | | |
Time Warner Cable Incorporated | | | 6.20 | | | | 7-1-13 | | | | 95,000 | | | | 98,006 | |
| | | | | | | | | | | | | | | | |
| | | | |
Consumer Staples: 4.81% | | | | | | | | | | | | | | | | |
| | | | |
| Beverages: 2.31% | | | | | | | | | | | | | | | | |
Anheuser-Busch Companies Incorporated | | | 4.38 | | | | 1-15-13 | | | | 200,000 | | | | 200,739 | |
Brown Forman Corporation | | | 5.00 | | | | 2-1-14 | | | | 210,000 | | | | 220,999 | |
Coca Cola Company | | | 0.75 | | | | 3-13-15 | | | | 100,000 | | | | 100,791 | |
Coca Cola Enterprises | | | 1.13 | | | | 11-12-13 | | | | 150,000 | | | | 150,678 | |
Miller Brewing Corporation 144A | | | 5.50 | | | | 8-15-13 | | | | 125,000 | | | | 128,963 | |
| | | | |
| | | | | | | | | | | | | | | 802,170 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Food & Staples Retailing: 0.58% | | | | | | | | | | | | | | | | |
Sysco Corporation | | | 4.20 | | | | 2-12-13 | | | | 200,000 | | | | 201,363 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Food Products: 1.92% | | | | | | | | | | | | | | | | |
Campbell Soup Company | | | 3.38 | | | | 8-15-14 | | | | 250,000 | | | | 261,677 | |
General Mills Incorporated | | | 5.20 | | | | 3-17-15 | | | | 150,000 | | | | 165,356 | |
Kellogg Company Series B | | | 4.25 | | | | 3-6-13 | | | | 140,000 | | | | 141,342 | |
Kraft Foods Group Incorporated 144A | | | 1.63 | | | | 6-4-15 | | | | 100,000 | | | | 101,553 | |
| | | | |
| | | | | | | | | | | | | | | 669,928 | |
| | | | | | | | | | | | | | | | |
| | | | |
Energy: 0.85% | | | | | | | | | | | | | | | | |
| | | | |
| Oil, Gas & Consumable Fuels: 0.85% | | | | | | | | | | | | | | | | |
Chevron Corporation | | | 3.95 | | | | 3-3-14 | | | | 125,000 | | | | 130,263 | |
ConocoPhillips Australia | | | 5.50 | | | | 4-15-13 | | | | 125,000 | | | | 127,228 | |
Devon Energy Corporation | | | 5.63 | | | | 1-15-14 | | | | 35,000 | | | | 36,945 | |
| | | | |
| | | | | | | | | | | | | | | 294,436 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 116 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
STABLE INCOME PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Financials: 9.87% | | | | | | | | | | | | | | | | |
| | | | |
| Capital Markets: 0.55% | | | | | | | | | | | | | | | | |
Goldman Sachs Group Incorporated | | | 5.25 | % | | | 4-1-13 | | | $ | 190,000 | | | $ | 192,737 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Commercial Banks: 2.35% | | | | | | | | | | | | | | | | |
AMEX Centurion Bank | | | 1.00 | | | | 9-23-13 | | | | 245,000 | | | | 245,927 | |
Bank of Montreal ± | | | 0.78 | | | | 4-29-14 | | | | 125,000 | | | | 125,603 | |
Branch Banking & Trust Company ± | | | 0.72 | | | | 9-13-16 | | | | 250,000 | | | | 245,756 | |
HSBC Bank plc 144A | | | 1.63 | | | | 8-12-13 | | | | 200,000 | | | | 201,579 | |
| | | | |
| | | | | | | | | | | | | | | 818,865 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Consumer Finance: 3.64% | | | | | | | | | | | | | | | | |
BMW Bank of North America | | | 1.00 | | | | 7-18-14 | | | | 245,000 | | | | 245,482 | |
Caterpillar Financial Services Corporation « | | | 2.00 | | | | 4-5-13 | | | | 150,000 | | | | 150,837 | |
John Deere Capital Corporation | | | 1.88 | | | | 6-17-13 | | | | 300,000 | | | | 302,455 | |
National Credit Union Administration ± | | | 0.23 | | | | 6-12-13 | | | | 275,000 | | | | 274,986 | |
Toyota Motor Credit Corporation | | | 1.00 | | | | 2-17-15 | | | | 125,000 | | | | 126,091 | |
Unilever Capital Corporation | | | 3.65 | | | | 2-15-14 | | | | 160,000 | | | | 165,798 | |
| | | | |
| | | | | | | | | | | | | | | 1,265,649 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Diversified Financial Services: 2.87% | | | | | | | | | | | | | | | | |
American Express | | | 5.88 | | | | 5-2-13 | | | | 125,000 | | | | 127,750 | |
Bank of America Corporation | | | 4.90 | | | | 5-1-13 | | | | 175,000 | | | | 177,927 | |
Citigroup Incorporated | | | 6.50 | | | | 8-19-13 | | | | 150,000 | | | | 155,938 | |
JPMorgan Chase & Company | | | 4.65 | | | | 6-1-14 | | | | 175,000 | | | | 184,818 | |
New York Life Global Funding 144A | | | 4.65 | | | | 5-9-13 | | | | 120,000 | | | | 122,218 | |
Pacific Life Global Funding 144A | | | 5.15 | | | | 4-15-13 | | | | 100,000 | | | | 101,690 | |
WMC Finance USA Limited | | | 5.13 | | | | 5-15-13 | | | | 125,000 | | | | 127,585 | |
| | | | |
| | | | | | | | | | | | | | | 997,926 | |
| | | | | | | | | | | | | | | | |
| | | | |
| REITs: 0.46% | | | | | | | | | | | | | | | | |
ERP Operating LP | | | 5.25 | | | | 9-15-14 | | | | 150,000 | | | | 160,789 | |
| | | | | | | | | | | | | | | | |
| | | | |
Health Care: 0.46% | | | | | | | | | | | | | | | | |
| | | | |
| Pharmaceuticals: 0.46% | | | | | | | | | | | | | | | | |
Abbvie Incorporated 144A | | | 1.20 | | | | 11-6-15 | | | | 90,000 | | | | 90,402 | |
Sanofi-Aventis US LLC | | | 1.20 | | | | 9-30-14 | | | | 70,000 | | | | 70,850 | |
| | | | |
| | | | | | | | | | | | | | | 161,252 | |
| | | | | | | | | | | | | | | | |
| | | | |
Industrials: 1.92% | | | | | | | | | | | | | | | | |
| | | | |
| Aerospace & Defense: 0.54% | | | | | | | | | | | | | | | | |
Northrop Grumman Corporation | | | 3.70 | | | | 8-1-14 | | | | 180,000 | | | | 188,872 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Building Products: 0.30% | | | | | | | | | | | | | | | | |
Ingersoll-Rand Global Holding Company Limited | | | 6.00 | | | | 8-15-13 | | | | 100,000 | | | | 103,771 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Electrical Equipment: 0.62% | | | | | | | | | | | | | | | | |
General Electric Company | | | 0.85 | | | | 10-9-15 | | | | 60,000 | | | | 60,024 | |
General Electric Company | | | 5.00 | | | | 2-1-13 | | | | 155,000 | | | | 156,117 | |
| | | | |
| | | | | | | | | | | | | | | 216,141 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 117 | |
STABLE INCOME PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
| Road & Rail: 0.46% | | | | | | | | | | | | | | | | |
Union Pacific Corporation | | | 5.38 | % | | | 5-1-14 | | | $ | 150,000 | | | $ | 159,528 | |
| | | | | | | | | | | | | �� | | | |
| | | | |
Materials: 0.38% | | | | | | | | | | | | | | | | |
| | | | |
| Metals & Mining: 0.38% | | | | | | | | | | | | | | | | |
Alcan Incorporated | | | 5.20 | | | | 1-15-14 | | | | 125,000 | | | | 130,928 | |
| | | | | | | | | | | | | | | | |
| | | | |
Telecommunication Services: 0.98% | | | | | | | | | | | | | | | | |
| | | | |
| Diversified Telecommunication Services: 0.98% | | | | | | | | | | | | | | | | |
Verizon Communications Incorporated | | | 5.25 | | | | 4-15-13 | | | | 200,000 | | | | 203,465 | |
Verizon Wireless Corporation | | | 5.55 | | | | 2-1-14 | | | | 130,000 | | | | 136,870 | |
| | | | |
| | | | | | | | | | | | | | | 340,335 | |
| | | | | | | | | | | | | | | | |
| | | | |
Utilities: 2.15% | | | | | | | | | | | | | | | | |
| | | | |
| Electric Utilities: 1.76% | | | | | | | | | | | | | | | | |
Monongahela Power Company 144A | | | 7.95 | | | | 12-15-13 | | | | 85,000 | | | | 91,065 | |
Public Service Electric & Gas Company | | | 5.38 | | | | 9-1-13 | | | | 200,000 | | | | 207,198 | |
Union Electric Company | | | 4.65 | | | | 10-1-13 | | | | 150,000 | | | | 153,984 | |
Wisconsin Electric Power Company | | | 6.00 | | | | 4-1-14 | | | | 150,000 | | | | 160,754 | |
| | | | |
| | | | | | | | | | | | | | | 613,001 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Gas Utilities: 0.39% | | | | | | | | | | | | | | | | |
Atmos Energy Corporation | | | 4.95 | | | | 10-15-14 | | | | 125,000 | | | | 134,442 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Corporate Bonds and Notes (Cost $7,905,948) | | | | | | | | | | | | | | | 7,932,987 | |
| | | | | | | | | | | | | | | | |
| | | | |
Loan Participation: 1.11% | | | | | | | | | | | | | | | | |
United States Department of Agriculture Loan (a) | | | 0.98 | | | | 6-25-16 | | | | 270,316 | | | | 270,883 | |
United States Department of Agriculture Loan (a) | | | 5.37 | | | | 9-8-19 | | | | 116,910 | | | | 116,197 | |
| | | | |
Total Loan Participation (Cost $385,364) | | | | | | | | | | | | | | | 387,080 | |
| | | | | | | | | | | | | | | | |
| | | | |
Municipal Obligations: 3.52% | | | | | | | | | | | | | | | | |
| | | | |
| Arkansas: 0.36% | | | | | | | | | | | | | | | | |
Arkansas State (GO) | | | 1.50 | | | | 7-1-13 | | | | 125,000 | | | | 125,701 | |
| | | | | | | | | | | | | | | | |
| | | | |
| California: 0.14% | | | | | | | | | | | | | | | | |
University of California Revenues Series AA-2 (Education Revenue) | | | 0.89 | | | | 7-1-13 | | | | 50,000 | | | | 50,123 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Colorado: 0.30% | | | | | | | | | | | | | | | | |
Colorado State Build America Building Excellent Schools Series E (GO) | | | 3.73 | | | | 3-15-15 | | | | 100,000 | | | | 105,766 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Illinois: 0.59% | | | | | | | | | | | | | | | | |
Cook County Ill School District #135 Series A (Education Revenue) | | | 4.75 | | | | 5-1-14 | | | | 100,000 | | | | 101,268 | |
Illinois State (GO) | | | 4.07 | | | | 1-1-14 | | | | 100,000 | | | | 103,264 | |
| | | | |
| | | | | | | | | | | | | | | 204,532 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Maryland: 0.43% | | | | | | | | | | | | | | | | |
Frederick MD Series A (GO) | | | 2.00 | | | | 12-1-12 | | | | 150,000 | | | | 150,006 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 118 | | Wells Fargo Advantage Allocation Funds | | Portfolio of investments—November 30, 2012 (unaudited) |
STABLE INCOME PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
| Texas: 1.34% | | | | | | | | | | | | | | | | |
Brazos TX Higher Education Authority Incorporated Series 2011-2 Class A1 (Education Revenue) ± | | | 0.87 | % | | | 1-27-20 | | | $ | 48,857 | | | $ | 49,030 | |
Brazos TX Higher Education Authority Incorporated Series 2005-1 (GO) ± | | | 0.55 | | | | 12-26-18 | | | | 157,320 | | | | 157,029 | |
El Paso TX (GO) | | | 5.72 | | | | 8-15-13 | | | | 150,000 | | | | 155,571 | |
Galveston County TX Build America Bond (GO) | | | 3.01 | | | | 2-1-14 | | | | 100,000 | | | | 102,665 | |
| | | | |
| | | | | | | | | | | | | | | 464,295 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Wisconsin: 0.36% | | | | | | | | | | | | | | | | |
Outagamie County WI Build America Bond (GO) | | | 2.50 | | | | 4-1-13 | | | | 125,000 | | | | 125,804 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Municipal Obligations (Cost $1,223,788) | | | | | | | | | | | | | | | 1,226,227 | |
| | | | | | | | | | | | | | | | |
| | | | |
Non-Agency Mortgage Backed Securities: 10.16% | | | | | | | | | | | | | | | | |
Bank of America Commercial Mortgage Incorporated Series 2005-1 Class A3 | | | 4.88 | | | | 11-10-42 | | | | 69,425 | | | | 69,391 | |
Bear Stearns Commercial Mortgage Securities Series 2005-PWR9 Class A2 | | | 4.74 | | | | 9-11-42 | | | | 157,872 | | | | 161,329 | |
CNH Equipment Trust Series 2012-C Class A3 | | | 0.57 | | | | 12-15-17 | | | | 175,000 | | | | 175,092 | |
| | | | | | | | | | | | | | | | |
Countrywide Home Loans Series 2004-R1 Class 1AF ±144A | | | 0.61 | | | | 11-25-34 | | | | 308,776 | | | | 259,995 | |
GE Capital Commercial Mortgage Corporation Series 2005-C3 Class A4 ± | | | 5.05 | | | | 7-10-45 | | | | 277,873 | | | | 277,881 | |
GE Dealer Floorplan Master Note Trust Series 2012-4 Class A ± | | | 0.65 | | | | 10-20-17 | | | | 175,000 | | | | 175,407 | |
GE Equipment Series 2012-1 Class A3 | | | 0.60 | | | | 5-23-16 | | | | 150,000 | | | | 150,169 | |
GE Equipment Series 2012-2 Class A2 | | | 0.47 | | | | 4-24-15 | | | | 225,000 | | | | 225,002 | |
GSMPS Mortgage Loan Trust Series 2004-4 Class 1AF ±144A | | | 0.61 | | | | 6-25-34 | | | | 312,519 | | | | 267,264 | |
JPMorgan Chase Commercial Mortgage Series 2010-C2 Class A1 144A | | | 2.75 | | | | 11-15-43 | | | | 154,184 | | | | 161,362 | |
SLMA Series 2012-7 Class A1 ± | | | 0.37 | | | | 2-27-17 | | | | 175,000 | | | | 174,932 | |
Structured Asset Securities Corporation Series 2004-NP2 Class A ±144A | | | 0.56 | | | | 6-25-34 | | | | 322,698 | | | | 286,371 | |
Structured Asset Securities Corporation Series 2006-RF3 Class 1A1 144A | | | 6.00 | | | | 10-25-36 | | | | 243,887 | | | | 241,578 | |
Structured Asset Securities Corporation Series 2006-RM1 Class A1 ±144A(a) | | | 0.46 | | | | 8-25-46 | | | | 322,474 | | | | 180,199 | |
Structured Asset Securities Corporation Series 2007-RM1 Class A1 ±144A(a) | | | 0.49 | | | | 5-25-47 | | | | 886,581 | | | | 495,422 | |
Washington Mutual Mortgage Pass-Through Certificates Series 2005-AR6 Class 2A1A ± | | | 0.44 | | | | 4-25-45 | | | | 250,204 | | | | 235,012 | |
| | | | |
Total Non-Agency Mortgage Backed Securities (Cost $4,206,156) | | | | | | | | | | | | | | | 3,536,406 | |
| | | | | | | | | | | | | | | | |
| | | | |
Yankee Corporate Bonds and Notes: 2.49% | | | | | | | | | | | | | | | | |
| | | | |
Consumer Discretionary: 0.52% | | | | | | | | | | | | | | | | |
| | | | |
| Media: 0.52% | | | | | | | | | | | | | | | | |
Thomson Reuters Corporation | | | 5.95 | | | | 7-15-13 | | | | 175,000 | | | | 180,615 | |
| | | | | | | | | | | | | | | | |
| | | | |
Energy: 0.53% | | | | | | | | | | | | | | | | |
| | | | |
| Oil, Gas & Consumable Fuels: 0.53% | | | | | | | | | | | | | | | | |
Shell International Finance BV | | | 4.00 | | | | 3-21-14 | | | | 175,000 | | | | 182,845 | |
| | | | | | | | | | | | | | | | |
| | | | |
Financials: 0.72% | | | | | | | | | | | | | | | | |
| | | | |
| Commercial Banks: 0.29% | | | | | | | | | | | | | | | | |
Royal Bank of Canada | | | 0.80 | | | | 10-30-15 | | | | 100,000 | | | | 99,988 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Diversified Financial Services: 0.43% | | | | | | | | | | | | | | | | |
Diageo Capital plc | | | 5.20 | | | | 1-30-13 | | | | 150,000 | | | | 151,107 | |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 119 | |
STABLE INCOME PORTFOLIO
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Health Care: 0.72% | | | | | | | | | | | | | | | | |
| | | | |
| Health Care Equipment & Supplies: 0.72% | | | | | | | | | | | | | | | | |
Covidien International Finance SA | | | 1.88 | % | | | 6-15-13 | | | $ | 250,000 | | | $ | 251,809 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Yankee Corporate Bonds and Notes (Cost $864,389) | | | | | | | | | | | | | | | 866,364 | |
| | | | | | | | | | | | | | | | |
| | | | |
Other: 0.11% | | | | | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (v)(a)(i) | | | | | | | | | | | 119,260 | | | | 39,356 | |
| | | | |
Total Other (Cost $11,300) | | | | | | | | | | | | | | | 39,356 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | Yield | | | | | | Shares | | | | |
| Short-Term Investments: 8.48% | | | | | | | | | | | | | | | | |
| | | | |
| Investment Companies: 8.48% | | | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund, Select Class (l)(u) | | | 0.16 | | | | | | | | 2,857,608 | | | | 2,857,608 | |
| | | | | | | | | | | | | | | | |
Wells Fargo Securities Lending Cash Investments, LLC (v)(l)(u)(r) | | | 0.21 | | | | | | | | 91,700 | | | | 91,700 | |
| | | | |
Total Short-Term Investments (Cost $2,949,308) | | | | | | | | | | | | | | | 2,949,308 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | |
Total investments in securities
(Cost $34,836,462)* | | | 99.92 | % | | | 34,768,663 | |
Other assets and liabilities, net | | | 0.08 | | | | 27,269 | |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 34,795,932 | |
| | | | | | | | |
| ± | Variable rate investment |
| 144A | Security that may be resold to “qualified institutional buyers” under Rule 144A or security offered pursuant to Section 4(2) of the Securities Act of 1933, as amended. |
| « | All or a portion of this security is on loan. |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| (l) | Investment in an affiliate |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| * | Cost for federal income tax purposes is $35,037,092 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 659,460 | |
Gross unrealized depreciation | | | (927,889 | ) |
| | | | |
Net unrealized depreciation | | $ | (268,429 | ) |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 120 | | Wells Fargo Advantage Allocation Funds | | Statements of assets and liabilities—November 30, 2012 (unaudited) |
| | | | | | | | |
| | | C&B Large Cap
Value Portfolio | | | Diversified Large
Cap Growth
Portfolio | |
| | |
Assets | | | | | | | | |
Investments | | | | | | | | |
In unaffiliated securities (including securities on loan), at value (see cost below) | | $ | 314,241,370 | | | $ | 147,623,637 | |
In affiliated securities, at value (see cost below) | | | 56,278,567 | | | | 32,104,781 | |
| | | | | | | | |
Total investments, at value (see cost below) | | | 370,519,937 | | | | 179,728,418 | |
Segregated cash | | | 0 | | | | 0 | |
Foreign currency, at value (see cost below) | | | 0 | | | | 0 | |
Receivable for investments sold | | | 2,574,193 | | | | 304,302 | |
Receivable for dividends | | | 880,848 | | | | 141,469 | |
Receivable for securities lending income | | | 5,066 | | | | 2,773 | |
Prepaid expenses and other assets | | | 3,633 | | | | 2,878 | |
| | | | | | | | |
Total assets | | | 373,983,677 | | | | 180,179,840 | |
| | | | | | | | |
| | |
Liabilities | | | | | | | | |
Payable for investments purchased | | | 341,243 | | | | 304,171 | |
Payable upon receipt of securities loaned | | | 54,606,225 | | | | 30,875,950 | |
Payable for daily variation margin on open futures contracts | | | 0 | | | | 0 | |
Due to custodian bank | | | 0 | | | | 0 | |
Advisory fee payable | | | 172,277 | | | | 9,890 | |
Shareholder report expenses payable | | | 6,073 | | | | 16,239 | |
Custodian and accounting fees payable | | | 7,970 | | | | 5,346 | |
Professional fees payable | | | 3,025 | | | | 4,504 | |
Accrued expenses and other liabilities | | | 526 | | | | 571 | |
| | | | | | | | |
Total liabilities | | | 55,137,339 | | | | 31,216,671 | |
| | | | | | | | |
Total net assets | | $ | 318,846,338 | | | $ | 148,963,169 | |
| | | | | | | | |
| | |
Investments in unaffiliated securities, at cost | | $ | 267,842,365 | | | $ | 125,285,725 | |
| | | | | | | | |
Investments in affiliated securities, at cost | | $ | 56,278,567 | | | $ | 32,104,781 | |
| | | | | | | | |
Total investments, at cost | | $ | 324,120,932 | | | $ | 157,390,506 | |
| | | | | | | | |
Securities on loan, at value | | $ | 53,355,470 | | | $ | 30,222,297 | |
| | | | | | | | |
Foreign currency, at cost | | $ | 0 | | | $ | 0 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Statements of assets and liabilities—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 121 | |
| | | | | | | | | | | | | | | | | | | | | | |
Emerging Growth
Portfolio | | | Equity Value
Portfolio | | | Index Portfolio | | | International
Equity Portfolio | | | International
Growth Portfolio | | | International Index
Portfolio | |
| | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
| $ | 912,857,004 | | | $ | 863,969,397 | | | $ | 2,437,600,799 | | | $ | 21,988,461 | | | $ | 110,248,366 | | | $ | 22,117,106 | |
| | 302,158,840 | | | | 66,277,761 | | | | 229,955,859 | | | | 1,404,043 | | | | 8,070,164 | | | | 452,217 | |
| | | | | | | | | | | | | | | | | | | | | | |
| | 1,215,015,844 | | | | 930,247,158 | | | | 2,667,556,658 | | | | 23,392,504 | | | | 118,318,530 | | | | 22,569,323 | |
| | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 56,719 | |
| | 0 | | | | 0 | | | | 0 | | | | 31,369 | | | | 79,767 | | | | 122,441 | |
| | 6,609,167 | | | | 3,896,665 | | | | 228,975 | | | | 369,648 | | | | 777,960 | | | | 192,076 | |
| | 425,881 | | | | 2,368,567 | | | | 6,750,079 | | | | 34,290 | | | | 185,276 | | | | 83,879 | |
| | 67,960 | | | | 32,604 | | | | 35,543 | | | | 62 | | | | 8,287 | | | | 872 | |
| | 19,566 | | | | 10,694 | | | | 24,257 | | | | 1,352 | | | | 3,749 | | | | 1,631 | |
| | | | | | | | | | | | | | | | | | | | | | |
| | 1,222,138,418 | | | | 936,555,688 | | | | 2,674,595,512 | | | | 23,829,225 | | | | 119,373,569 | | | | 23,026,941 | |
| | | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
| | 8,163,459 | | | | 7,207,793 | | | | 3,160,896 | | | | 375,737 | | | | 682,524 | | | | 125,572 | |
| | 288,017,255 | | | | 54,250,075 | | | | 159,683,023 | | | | 1,076,691 | | | | 6,985,505 | | | | 452,217 | |
| | 0 | | | | 0 | | | | 46,445 | | | | 0 | | | | 0 | | | | 725 | |
| | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | 18,080 | |
| | 633,423 | | | | 491,179 | | | | 151,498 | | | | 12,547 | | | | 80,384 | | | | 5,651 | |
| | 6,475 | | | | 15,548 | | | | 2,884 | | | | 8,278 | | | | 2,287 | | | | 986 | |
| | 26,474 | | | | 12,835 | | | | 48,034 | | | | 5,174 | | | | 15,217 | | | | 43,743 | |
| | 0 | | | | 4,740 | | | | 0 | | | | 798 | | | | 784 | | | | 13,853 | |
| | 0 | | | | 4,853 | | | | 0 | | | | 1,026 | | | | 0 | | | | 2,963 | |
| | | | | | | | | | | | | | | | | | | | | | |
| | 296,847,086 | | | | 61,987,023 | | | | 163,092,780 | | | | 1,480,251 | | | | 7,766,701 | | | | 663,790 | |
| | | | | | | | | | | | | | | | | | | | | | |
| $ | 925,291,332 | | | $ | 874,568,665 | | | $ | 2,511,502,732 | | | $ | 22,348,974 | | | $ | 111,606,868 | | | $ | 22,363,151 | |
| | | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| $ | 842,876,465 | | | $ | 772,348,290 | | | $ | 1,896,543,848 | | | $ | 21,945,178 | | | $ | 94,369,009 | | | $ | 20,341,392 | |
| | | | | | | | | | | | | | | | | | | | | | |
| $ | 302,158,840 | | | $ | 66,277,761 | | | $ | 235,028,435 | | | $ | 1,404,043 | | | $ | 8,070,164 | | | $ | 452,217 | |
| | | | | | | | | | | | | | | | | | | | | | |
| $ | 1,145,035,305 | | | $ | 838,626,051 | | | $ | 2,131,572,283 | | | $ | 23,349,221 | | | $ | 102,439,173 | | | $ | 20,793,609 | |
| | | | | | | | | | | | | | | | | | | | | | |
| $ | 281,093,012 | | | $ | 53,033,429 | | | $ | 159,264,483 | | | $ | 1,047,799 | | | $ | 6,818,375 | | | $ | 429,599 | |
| | | | | | | | | | | | | | | | | | | | | | |
| $ | 0 | | | $ | 0 | | | $ | 0 | | | $ | 31,427 | | | $ | 80,082 | | | $ | 121,310 | |
| | | | | | | | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 122 | | Wells Fargo Advantage Allocation Funds | | Statements of assets and liabilities—November 30, 2012 (unaudited) |
| | | | | | | | |
| | | International Value
Portfolio | | | Large Company
Value Portfolio | |
| | |
Assets | | | | | | | | |
Investments | | | | | | | | |
In unaffiliated securities (including securities on loan), at value (see cost below) | | $ | 351,241,847 | | | $ | 46,404,692 | |
In affiliated securities, at value (see cost below) | | | 14,596,984 | | | | 6,071,437 | |
| | | | | | | | |
Total investments, at value (see cost below) | | | 365,838,831 | | | | 52,476,129 | |
Foreign currency, at value (see cost below) | | | 5,519,698 | | | | 0 | |
Receivable for investments sold | | | 336,991 | | | | 262,353 | |
Receivable for dividends | | | 1,338,768 | | | | 158,260 | |
Receivable for securities lending income | | | 9,636 | | | | 670 | |
Prepaid expenses and other assets | | | 9,946 | | | | 2,165 | |
| | | | | | | | |
Total assets | | | 373,053,870 | | | | 52,899,577 | |
| | | | | | | | |
| | |
Liabilities | | | | | | | | |
Payable for investments purchased | | | 70,004 | | | | 0 | |
Payable upon receipt of securities loaned | | | 13,117,922 | | | | 4,019,275 | |
Advisory fee payable | | | 263,355 | | | | 10,741 | |
Shareholder report expenses payable | | | 7,889 | | | | 7,718 | |
Custodian and accounting fees payable | | | 27,010 | | | | 9,921 | |
Professional fees payable | | | 4,789 | | | | 4,128 | |
| | | | | | | | |
Total liabilities | | | 13,490,969 | | | | 4,051,783 | |
| | | | | | | | |
Total net assets | | $ | 359,562,901 | | | $ | 48,847,794 | |
| | | | | | | | |
| | |
Investments in unaffiliated securities, at cost | | $ | 392,800,721 | | | $ | 41,079,366 | |
| | | | | | | | |
Investments in affiliated securities, at cost | | $ | 14,596,984 | | | $ | 6,071,437 | |
| | | | | | | | |
Total investments, at cost | | $ | 407,397,705 | | | $ | 47,150,803 | |
| | | | | | | | |
Securities on loan, at value | | $ | 12,488,034 | | | $ | 3,928,660 | |
| | | | | | | | |
Foreign currency, at cost | | $ | 5,524,646 | | | $ | 0 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Statements of assets and liabilities—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 123 | |
| | | | | | | | | | |
Small Cap Value
Portfolio | | | Small Company
Growth Portfolio | | | Small Company
Value Portfolio | |
| | |
| | | | | | | | | | |
| | | | | | | | | | |
| $ | 15,854,105 | | | $ | 128,160,978 | | | $ | 166,739,762 | |
| | 608,030 | | | | 41,516,509 | | | | 60,179,670 | |
| | | | | | | | | | |
| | 16,462,135 | | | | 169,677,487 | | | | 226,919,432 | |
| | 0 | | | | 0 | | | | 0 | |
| | 35,061 | | | | 1,202,228 | | | | 2,456,204 | |
| | 11,770 | | | | 373,812 | | | | 199,873 | |
| | 0 | | | | 7,791 | | | | 9,997 | |
| | 2,507 | | | | 4,005 | | | | 5,949 | |
| | | | | | | | | | |
| | 16,511,473 | | | | 171,265,323 | | | | 229,591,455 | |
| | | | | | | | | | |
| | |
| | | | | | | | | | |
| | 4,222 | | | | 371,731 | | | | 3,275,203 | |
| | 0 | | | | 38,307,239 | | | | 55,971,754 | |
| | 6,285 | | | | 77,448 | | | | 110,560 | |
| | 9,128 | | | | 10,116 | | | | 5,193 | |
| | 3,330 | | | | 5,365 | | | | 8,216 | |
| | 2,989 | | | | 3,592 | | | | 0 | |
| | | | | | | | | | |
| | 25,954 | | | | 38,775,491 | | | | 59,370,926 | |
| | | | | | | | | | |
| $ | 16,485,519 | | | $ | 132,489,832 | | | $ | 170,220,529 | |
| | | | | | | | | | |
| | |
| $ | 10,886,200 | | | $ | 110,729,389 | | | $ | 154,185,808 | |
| | | | | | | | | | |
| $ | 608,030 | | | $ | 41,516,509 | | | $ | 60,179,670 | |
| | | | | | | | | | |
| $ | 11,494,230 | | | $ | 152,245,898 | | | $ | 214,365,478 | |
| | | | | | | | | | |
| $ | 0 | | | $ | 37,261,537 | | | $ | 54,329,713 | |
| | | | | | | | | | |
| $ | 0 | | | $ | 0 | | | $ | 0 | |
| | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 124 | | Wells Fargo Advantage Allocation Funds | | Statements of assets and liabilities—November 30, 2012 (unaudited) |
| | | | | | | | |
| | | Core Bond Portfolio | | | Inflation-Protected
Bond Portfolio | |
| | |
Assets | | | | | | | | |
Investments | | | | | | | | |
In unaffiliated securities (including securities on loan), at value (see cost below) | | $ | 3,942,779,723 | | | $ | 80,121,231 | |
In affiliated securities, at value (see cost below) | | | 282,043,866 | | | | 2,421,974 | |
| | | | | | | | |
Total investments, at value (see cost below) | | | 4,224,823,589 | | | | 82,543,205 | |
Segregated cash | | | 0 | | | | 0 | |
Receivable for investments sold | | | 748,510,282 | | | | 0 | |
Principal paydown receivable | | | 106 | | | | 0 | |
Receivable for interest | | | 16,945,446 | | | | 342,975 | |
Receivable for securities lending income | | | 979 | | | | 0 | |
Premiums paid on credit default swap transactions | | | 688,002 | | | | 0 | |
Unrealized gains on credit default swap transactions | | | 85,825 | | | | 0 | |
Prepaid expenses and other assets | | | 22,449 | | | | 1,255 | |
| | | | | | | | |
Total assets | | | 4,991,076,678 | | | | 82,887,435 | |
| | | | | | | | |
| | |
Liabilities | | | | | | | | |
Payable for investments purchased | | | 1,224,692,741 | | | | 0 | |
Unrealized losses on credit default swap transactions | | | 613,082 | | | | 0 | |
Premiums received on credit default swap transactions | | | 114,158 | | | | 0 | |
Payable upon receipt of securities loaned | | | 81,197,350 | | | | 1,830,000 | |
Payable for daily variation margin on open futures contracts | | | 0 | | | | 0 | |
Advisory fee payable | | | 1,092,278 | | | | 25,555 | |
Shareholder report expenses payable | | | 8,414 | | | | 4,767 | |
Professional fees payable | | | 32,092 | | | | 3,901 | |
Accrued expenses and other liabilities | | | 85,722 | | | | 3,391 | |
| | | | | | | | |
Total liabilities | | | 1,307,835,837 | | | | 1,867,614 | |
| | | | | | | | |
Total net assets | | $ | 3,683,240,841 | | | $ | 81,019,821 | |
| | | | | | | | |
| | |
Investments in unaffiliated securities, at cost | | $ | 3,862,049,305 | | | $ | 69,669,596 | |
| | | | | | | | |
Investments in affiliated securities, at cost | | $ | 282,043,866 | | | $ | 2,421,974 | |
| | | | | | | | |
Total investments, at cost | | $ | 4,144,093,171 | | | $ | 72,091,570 | |
| | | | | | | | |
Securities on loan, at value | | $ | 79,589,138 | | | $ | 1,791,605 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Statements of assets and liabilities—November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 125 | |
| | | | | | |
Managed Fixed
Income Portfolio | | | Stable Income
Portfolio | |
| |
| | | | | | |
| | | | | | |
| $ | 119,568,379 | | | $ | 31,819,355 | |
| | 4,529,209 | | | | 2,949,308 | |
| | | | | | |
| | 124,097,588 | | | | 34,768,663 | |
| | 0 | | | | 11,000 | |
| | 1,295,286 | | | | 0 | |
| | 0 | | | | 0 | |
| | 880,837 | | | | 142,574 | |
| | 0 | | | | 0 | |
| | 0 | | | | 0 | |
| | 0 | | | | 0 | |
| | 0 | | | | 2,052 | |
| | | | | | |
| | 126,273,711 | | | | 34,924,289 | |
| | | | | | |
| |
| | | | | | |
| | 4,202,060 | | | | 0 | |
| | 0 | | | | 0 | |
| | 0 | | | | 0 | |
| | 599,375 | | | | 103,000 | |
| | 0 | | | | 1,719 | |
| | 34,004 | | | | 6,097 | |
| | 7,465 | | | | 6,529 | |
| | 15,025 | | | | 7,914 | |
| | 4,367 | | | | 3,098 | |
| | | | | | |
| | 4,862,296 | | | | 128,357 | |
| | | | | | |
| $ | 121,411,415 | | | $ | 34,795,932 | |
| | | | | | |
| |
| $ | 118,178,261 | | | $ | 31,887,154 | |
| | | | | | |
| $ | 4,529,209 | | | $ | 2,949,308 | |
| | | | | | |
| $ | 122,707,470 | | | $ | 34,836,462 | |
| | | | | | |
| $ | 586,949 | | | $ | 100,869 | |
| | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 126 | | Wells Fargo Advantage Allocation Funds | | Statements of operations—six months ended November 30, 2012 (unaudited) |
| | | | | | | | |
| | | C&B Large Cap
Value Portfolio | | | Diversified Large
Cap Growth
Portfolio | |
| | |
Investment income | | | | | | | | |
Dividends * | | $ | 4,422,672 | | | $ | 723,968 | |
Securities lending income, net | | | 34,742 | | | | 21,799 | |
Income from affiliated securities | | | 3,892 | | | | 2,864 | |
Interest | | | 0 | | | | 0 | |
| | | | | | | | |
Total investment income | | | 4,461,306 | | | | 748,631 | |
| | | | | | | | |
| | |
Expenses | | | | | | | | |
Advisory fee | | | 1,085,831 | | | | 500,408 | |
Custody and accounting fees | | | 12,834 | | | | 12,168 | |
Professional fees | | | 15,723 | | | | 17,412 | |
Shareholder report expenses | | | 3,215 | | | | 6,096 | |
Trustees’ fees and expenses | | | 5,639 | | | | 5,330 | |
Other fees and expenses | | | 5,962 | | | | 3,858 | |
| | | | | | | | |
Total expenses | | | 1,129,204 | | | | 545,272 | |
Less: Fee waivers and/or expense reimbursements | | | 0 | | | | (66,296 | ) |
| | | | | | | | |
Net expenses | | | 1,129,204 | | | | 478,976 | |
| | | | | | | | |
Net investment income (loss) | | | 3,332,102 | | | | 269,655 | |
| | | | | | | | |
| | |
REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | | | | | | |
| | |
Net realized gains (losses) on: | | | | | | | | |
Unaffiliated securities | | | 8,138,075 | | | | 5,955,510 | |
Affiliated securities | | | 0 | | | | 0 | |
Futures transactions | | | 0 | | | | 0 | |
| | | | | | | | |
Net realized gain (losses) on investments | | | 8,138,075 | | | | 5,955,510 | |
| | | | | | | | |
| | |
Net change in unrealized gains (losses) on: | | | | | | | | |
Unaffiliated securities | | | 10,511,841 | | | | 4,673,812 | |
Affiliated securities | | | 0 | | | | 0 | |
Futures transactions | | | 0 | | | | 0 | |
| | | | | | | | |
Net change in unrealized gains (losses) on investments | | | 10,511,841 | | | | 4,673,812 | |
| | | | | | | | |
Net realized and unrealized gains (losses) on investments | | | 18,649,916 | | | | 10,629,322 | |
| | | | | | | | |
Net increase in net assets resulting from operations | | $ | 21,982,018 | | | $ | 10,898,977 | |
| | | | | | | | |
| | |
* Net of foreign dividend withholding taxes in the amount of | | | $10,951 | | | | $0 | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Statements of operations—six months ended November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 127 | |
| | | | | | | | | | | | | | | | | | | | | | |
Emerging Growth
Portfolio | | | Equity Value
Portfolio | | | Index Portfolio | | | International
Equity Portfolio | | | International
Growth Portfolio | | | International Index
Portfolio | |
| | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
| $ | 1,234,732 | | | $ | 11,626,547 | | | $ | 28,674,889 | | | $ | 278,824 | | | $ | 992,353 | | | $ | 286,318 | |
| | 630,528 | | | | 100,517 | | | | 189,295 | | | | 16,031 | | | | 26,343 | | | | 9,673 | |
| | 20,389 | | | | 9,963 | | | | 23,948 | | | | 553 | | | | 1,270 | | | | 97 | |
| | 0 | | | | 0 | | | | 1,227 | | | | 0 | | | | 0 | | | | 62 | |
| | | | | | | | | | | | | | | | | | | | | | |
| | 1,885,649 | | | | 11,737,027 | | | | 28,889,359 | | | | 295,408 | | | | 1,019,966 | | | | 296,150 | |
| | | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
| | 4,001,516 | | | | 3,207,890 | | | | 1,073,585 | | | | 97,880 | | | | 480,743 | | | | 40,547 | |
| | 26,807 | | | | 34,090 | | | | 72,106 | | | | 21,609 | | | | 52,951 | | | | 46,864 | |
| | 14,967 | | | | 13,792 | | | | 14,861 | | | | 21,852 | | | | 22,052 | | | | 19,795 | |
| | 44 | | | | 8,854 | | | | 2,860 | | | | 3,049 | | | | 1,158 | | | | 500 | |
| | 5,554 | | | | 4,586 | | | | 5,937 | | | | 6,364 | | | | 6,209 | | | | 6,000 | |
| | 10,356 | | | | 11,497 | | | | 30,989 | | | | 10,592 | | | | 8,316 | | | | 13,300 | |
| | | | | | | | | | | | | | | | | | | | | | |
| | 4,059,244 | | | | 3,280,709 | | | | 1,200,338 | | | | 161,346 | | | | 571,429 | | | | 127,006 | |
| | 0 | | | | 0 | | | | 0 | | | | (3,681 | ) | | | 0 | | | | (82,550 | ) |
| | | | | | | | | | | | | | | | | | | | | | |
| | 4,059,244 | | | | 3,280,709 | | | | 1,200,338 | | | | 157,665 | | | | 571,429 | | | | 44,456 | |
| | | | | | | | | | | | | | | | | | | | | | |
| | (2,173,595 | ) | | | 8,456,318 | | | | 27,689,021 | | | | 137,743 | | | | 448,537 | | | | 251,694 | |
| | | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
| | (797,899 | ) | | | 58,679,308 | | | | 16,762,715 | | | | (1,002,622 | ) | | | 1,430,375 | | | | 73,839 | |
| | 0 | | | | 0 | | | | 99,964 | | | | 0 | | | | 0 | | | | 0 | |
| | 0 | | | | 0 | | | | 1,203,623 | | | | 0 | | | | 0 | | | | (630 | ) |
| | | | | | | | | | | | | | | | | | | | | | |
| | (797,899 | ) | | | 58,679,308 | | | | 18,066,302 | | | | (1,002,622 | ) | | | 1,430,375 | | | | 73,209 | |
| | | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
| | 18,194,585 | | | | 40,745,358 | | | | 169,262,372 | | | | 3,765,667 | | | | 15,357,500 | | | | 3,385,228 | |
| | 0 | | | | 0 | | | | 1,030,931 | | | | 0 | | | | 0 | | | | 0 | |
| | 0 | | | | 0 | | | | 1,852,223 | | | | 0 | | | | 0 | | | | 90,369 | |
| | | | | | | | | | | | | | | | | | | | | | |
| | 18,194,585 | | | | 40,745,358 | | | | 172,145,526 | | | | 3,765,667 | | | | 15,357,500 | | | | 3,475,597 | |
| | | | | | | | | | | | | | | | | | | | | | |
| | 17,396,686 | | | | 99,424,666 | | | | 190,211,828 | | | | 2,763,045 | | | | 16,787,875 | | | | 3,548,806 | |
| | | | | | | | | | | | | | | | | | | | | | |
| $ | 15,223,091 | | | $ | 107,880,984 | | | $ | 217,900,849 | | | $ | 2,900,788 | | | $ | 17,236,412 | | | $ | 3,800,500 | |
| | | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| | $4,308 | | | | $120,580 | | | | $31,372 | | | | $24,092 | | | | $63,091 | | | | $16,393 | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 128 | | Wells Fargo Advantage Allocation Funds | | Statements of operations—six months ended November 30, 2012 (unaudited) |
| | | | | | | | |
| | | International Value
Portfolio | | | Large Company
Value Portfolio | |
| | |
Investment income | | | | | | | | |
Dividends * | | $ | 4,477,633 | | | $ | 681,081 | |
Securities lending income, net | | | 171,830 | | | | 2,540 | |
Income from affiliated securities | | | 3,669 | | | | 1,064 | |
Interest | | | 1,948 | | | | 0 | |
| | | | | | | | |
Total investment income | | | 4,655,080 | | | | 684,685 | |
| | | | | | | | |
| | |
Expenses | | | | | | | | |
Advisory fee | | | 1,395,246 | | | | 167,310 | |
Custody and accounting fees | | | 39,889 | | | | 7,114 | |
Professional fees | | | 17,769 | | | | 17,791 | |
Shareholder report expenses | | | 3,868 | | | | 3,191 | |
Trustees’ fees and expenses | | | 6,320 | | | | 5,898 | |
Other fees and expenses | | | 15,542 | | | | 2,018 | |
| | | | | | | | |
Total expenses | | | 1,478,634 | | | | 203,322 | |
Less: Fee waivers and/or expense reimbursements | | | 0 | | | | (13,258 | ) |
| | | | | | | | |
Net expenses | | | 1,478,634 | | | | 190,064 | |
| | | | | | | | |
Net investment income | | | 3,176,446 | | | | 494,621 | |
| | | | | | | | |
| | |
REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | | | | | | |
Net realized gain (losses) on investments | | | (2,196,456 | ) | | | 2,105,222 | |
Net change in unrealized gains (losses) on investments | | | 48,749,844 | | | | 1,500,178 | |
| | | | | | | | |
Net realized and unrealized gains (losses) on investments | | | 46,553,388 | | | | 3,605,400 | |
| | | | | | | | |
Net increase in net assets resulting from operations | | $ | 49,729,834 | | | $ | 4,100,021 | |
| | | | | | | | |
| | |
* Net of foreign dividend withholding taxes in the amount of | | | $292,144 | | | | $1,111 | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Statements of operations—six months ended November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 129 | |
| | | | | | | | | | |
Small Cap Value
Portfolio | | | Small Company
Growth Portfolio | | | Small Company
Value Portfolio | |
| | |
| | | | | | | | | | |
| $ | 324,069 | | | $ | 668,169 | | | $ | 1,382,218 | |
| | 0 | | | | 20,958 | | | | 70,872 | |
| | 2,116 | | | | 4,396 | | | | 4,200 | |
| | 0 | | | | 0 | | | | 0 | |
| | | | | | | | | | |
| | 326,185 | | | | 693,523 | | | | 1,457,290 | |
| | | | | | | | | | |
| | |
| | | | | | | | | | |
| | 169,336 | | | | 640,815 | | | | 797,538 | |
| | 7,680 | | | | 11,501 | | | | 13,518 | |
| | 16,530 | | | | 16,856 | | | | 16,580 | |
| | 3,186 | | | | 4,098 | | | | 2,146 | |
| | 6,251 | | | | 6,233 | | | | 6,066 | |
| | 2,821 | | | | 6,061 | | | | 6,190 | |
| | | | | | | | | | |
| | 205,804 | | | | 685,564 | | | | 842,038 | |
| | (12,041 | ) | | | (79 | ) | | | 0 | |
| | | | | | | | | | |
| | 193,763 | | | | 685,485 | | | | 842,038 | |
| | | | | | | | | | |
| | 132,422 | | | | 8,038 | | | | 615,252 | |
| | | | | | | | | | |
| | |
| | | | | | | | | | |
| | 3,788,147 | | | | 5,166,264 | | | | 5,485,956 | |
| | 1,495,116 | | | | 6,566,887 | | | | 7,055,601 | |
| | | | | | | | | | |
| | 5,283,263 | | | | 11,733,151 | | | | 12,541,557 | |
| | | | | | | | | | |
| $ | 5,415,685 | | | $ | 11,741,189 | | | $ | 13,156,809 | |
| | | | | | | | | | |
| | |
| | $1,499 | | | | $2,217 | | | | $0 | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 130 | | Wells Fargo Advantage Allocation Funds | | Statements of operations—six months ended November 30, 2012 (unaudited) |
| | | | | | | | |
| | | Core Bond
Portfolio | | | Inflation-Protected
Bond Portfolio | |
| | |
Investment income | | | | | | | | |
Interest* | | $ | 42,261,155 | | | $ | 971,179 | |
Income from affiliated securities | | | 141,561 | | | | 38 | |
Securities lending income, net | | | 48,519 | | | | 4,719 | |
| | | | | | | | |
Total investment income | | | 42,451,235 | | | | 975,936 | |
| | | | | | | | |
| | |
Expenses | | | | | | | | |
Advisory fee | | | 7,031,048 | | | | 166,149 | |
Custody and accounting fees | | | 118,909 | | | | 5,404 | |
Professional fees | | | 29,310 | | | | 16,963 | |
Shareholder report expenses | | | 8,503 | | | | 936 | |
Trustees’ fees and expenses | | | 6,233 | | | | 5,855 | |
Other fees and expenses | | | 29,242 | | | | 4,419 | |
| | | | | | | | |
Total expenses | | | 7,223,245 | | | | 199,726 | |
Less: Fee waivers and/or expense reimbursements | | | (281,318 | ) | | | (17,545 | ) |
| | | | | | | | |
Net expenses | | | 6,941,927 | | | | 182,181 | |
| | | | | | | | |
Net investment income | | | 35,509,308 | | | | 793,755 | |
| | | | | | | | |
| | |
REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | | | | | | |
| | |
Net realized gains (losses) on: | | | | | | | | |
Unaffiliated securities | | | 108,340,648 | | | | 1,936,141 | |
Futures transactions | | | 0 | | | | 0 | |
Credit default swap transactions | | | (40,717 | ) | | | 0 | |
TBA sale commitments | | | (355,719 | ) | | | 0 | |
| | | | | | | | |
Net realized gains on investments | | | 107,944,212 | | | | 1,936,141 | |
| | | | | | | | |
| | |
Net change in unrealized gains (losses) on: | | | | | | | | |
Unaffiliated securities | | | (13,631,453 | ) | | | (559,251 | ) |
Futures transactions | | | 0 | | | | 0 | |
Credit default swap transactions | | | (418,505 | ) | | | 0 | |
TBA sale commitments | | | 293,360 | | | | 0 | |
| | | | | | | | |
Net change in unrealized gains (losses) on investments | | | (13,756,598 | ) | �� | | (559,251 | ) |
| | | | | | | | |
Net realized and unrealized gains (losses) on investments | | | 94,187,614 | | | | 1,376,890 | |
| | | | | | | | |
Net increase in net assets resulting from operations | | $ | 129,696,922 | | | $ | 2,170,645 | |
| | | | | | | | |
| | |
* Net of foreign interest withholding taxes in the amount of | | | $41,842 | | | | $0 | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Statements of operations—six months ended November 30, 2012 (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 131 | |
| | | | | | |
Managed Fixed
Income Portfolio | | | Stable Income
Portfolio | |
| |
| | | | | | |
| $ | 2,458,646 | | | $ | 353,613 | |
| | 3,973 | | | | 1,868 | |
| | 2,110 | | | | 1,160 | |
| | | | | | |
| | 2,464,729 | | | | 356,641 | |
| | | | | | |
| |
| | | | | | |
| | 252,679 | | | | 67,229 | |
| | 6,936 | | | | 4,852 | |
| | 19,997 | | | | 20,623 | |
| | 3,511 | | | | 897 | |
| | 6,234 | | | | 5,364 | |
| | 4,339 | | | | 2,963 | |
| | | | | | |
| | 293,696 | | | | 101,928 | |
| | (48,092 | ) | | | (30,724 | ) |
| | | | | | |
| | 245,604 | | | | 71,204 | |
| | | | | | |
| | 2,219,125 | | | | 285,437 | |
| | | | | | |
| |
| | | | | | |
| |
| | | | | | |
| | 2,984,770 | | | | 112,829 | |
| | 0 | | | | (16,098 | ) |
| | 0 | | | | 0 | |
| | 7,748 | | | | 0 | |
| | | | | | |
| | 2,992,518 | | | | 96,731 | |
| | | | | | |
| |
| | | | | | |
| | (105,767 | ) | | | 253,738 | |
| | 0 | | | | (4,063 | ) |
| | 0 | | | | 0 | |
| | 0 | | | | 0 | |
| | | | | | |
| | (105,767 | ) | | | 249,675 | |
| | | | | | |
| | 2,886,751 | | | | 346,406 | |
| | | | | | |
| $ | 5,105,876 | | | $ | 631,843 | |
| | | | | | |
| |
| | $0 | | | | $0 | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 132 | | Wells Fargo Advantage Allocation Funds | | Statements of changes in net assets |
| | | | | | | | |
| | | C&B Large Cap Value Portfolio | |
| | | Six months ended
November 30, 2012
(Unaudited) | | | Year ended
May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment income | | $ | 3,332,102 | | | $ | 6,573,718 | |
Net realized gains on investments | | | 8,138,075 | | | | 15,269,192 | |
Net change in unrealized gains (losses) on investments | | | 10,511,841 | | | | (40,212,230 | ) |
| | | | | | | | |
Net increase (decrease) in net assets resulting from operations | | | 21,982,018 | | | | (18,369,320 | ) |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 3,176,458 | | | | 14,806,365 | |
Withdrawals | | | (31,235,254 | ) | | | (95,014,836 | ) |
| | | | | | | | |
Net decrease in net assets resulting from capital share transactions | | | (28,058,796 | ) | | | (80,208,471 | ) |
| | | | | | | | |
Total decrease in net assets | | | (6,076,778 | ) | | | (98,577,791 | ) |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 324,923,116 | | | | 423,500,907 | |
| | | | | | | | |
End of period | | $ | 318,846,338 | | | $ | 324,923,116 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Statements of changes in net assets | | Wells Fargo Advantage Allocation Funds | | | 133 | |
| | | | | | | | |
| | | Diversified Large Cap Growth Portfolio | |
| | | Six months ended
November 30, 2012
(unaudited) | | | Year ended
May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment income | | $ | 269,655 | | | $ | 425,590 | |
Net realized gains on investments | | | 5,955,510 | | | | 5,356,234 | |
Net change in unrealized gains (losses) on investments | | | 4,673,812 | | | | (3,329,475 | ) |
| | | | | | | | |
Net increase in net assets resulting from operations | | | 10,898,977 | | | | 2,452,349 | |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 3,076,744 | | | | 7,386,835 | |
Withdrawals | | | (23,170,833 | ) | | | (52,938,016 | ) |
| | | | | | | | |
Net decrease in net assets resulting from capital share transactions | | | (20,094,089 | ) | | | (45,551,181 | ) |
| | | | | | | | |
Total decrease in net assets | | | (9,195,112 | ) | | | (43,098,832 | ) |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 158,158,281 | | | | 201,257,113 | |
| | | | | | | | |
End of period | | $ | 148,963,169 | | | $ | 158,158,281 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 134 | | Wells Fargo Advantage Allocation Funds | | Statements of changes in net assets |
| | | | | | | | |
| | | Emerging Growth Portfolio | |
| | | Six months ended November 30, 2012
(Unaudited) | | | Year ended
May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment loss | | $ | (2,173,595 | ) | | $ | (4,480,439 | ) |
Net realized gains (losses) on investments | | | (797,899 | ) | | | 45,606,364 | |
Net change in unrealized gains (losses) on investments | | | 18,194,585 | | | | 106,939,881 | |
| | | | | | | | |
Net increase in net assets resulting from operations | | | 15,223,091 | | | | 148,065,806 | |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 27,508,922 | | | | 1,103,202,835 | |
Withdrawals | | | (116,332,787 | ) | | | (336,929,676 | ) |
| | | | | | | | |
Net increase (decrease) in net assets resulting from capital share transactions | | | (88,823,865 | ) | | | 766,273,159 | |
| | | | | | | | |
Total increase (decrease) in net assets | | | (73,600,774 | ) | | | 914,338,965 | |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 998,892,106 | | | | 84,553,141 | |
| | | | | | | | |
End of period | | $ | 925,291,332 | | | $ | 998,892,106 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Statements of changes in net assets | | Wells Fargo Advantage Allocation Funds | | | 135 | |
| | | | | | | | |
| | | Equity Value Portfolio | |
| | | Six months ended November 30, 2012
(Unaudited) | | | Year ended
May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment income | | $ | 8,456,318 | | | $ | 14,011,353 | |
Net realized gains on investments | | | 58,679,308 | | | | 23,330,597 | |
Net change in unrealized gains (losses) on investments | | | 40,745,358 | | | | (18,260,356 | ) |
| | | | | | | | |
Net increase in net assets resulting from operations | | | 107,880,984 | | | | 19,081,594 | |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 3,778,099 | | | | 698,898,834 | |
Withdrawals | | | (231,323,662 | ) | | | (145,361,854 | ) |
| | | | | | | | |
Net increase (decrease) in net assets resulting from capital share transactions | | | (227,545,563 | ) | | | 553,536,980 | |
| | | | | | | | |
Total increase (decrease) in net assets | | | (119,664,579 | ) | | | 572,618,574 | |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 994,233,244 | | | | 421,614,670 | |
| | | | | | | | |
End of period | | $ | 874,568,665 | | | $ | 994,233,244 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 136 | | Wells Fargo Advantage Allocation Funds | | Statements of changes in net assets |
| | | | | | | | |
| | | Index Portfolio | |
| | | Six months ended
November 30, 2012
(Unaudited) | | | Year ended
May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment income | | $ | 27,689,021 | | | $ | 50,245,701 | |
Net realized gains on investments | | | 18,066,302 | | | | 44,324,406 | |
Net change in unrealized gains (losses) on investments | | | 172,145,526 | | | | (109,116,550 | ) |
| | | | | | | | |
Net increase (decrease) in net assets resulting from operations | | | 217,900,849 | | | | (14,546,443 | ) |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 42,591,618 | | | | 170,958,274 | |
Withdrawals | | | (132,488,463 | ) | | | (304,471,072 | ) |
| | | | | | | | |
Net decrease in net assets resulting from capital share transactions | | | (89,896,845 | ) | | | (133,512,798 | ) |
| | | | | | | | |
Total increase (decrease) in net assets | | | 128,004,004 | | | | (148,059,241 | ) |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 2,383,498,728 | | | | 2,531,557,969 | |
| | | | | | | | |
End of period | | $ | 2,511,502,732 | | | $ | 2,383,498,728 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Statements of changes in net assets | | Wells Fargo Advantage Allocation Funds | | | 137 | |
| | | | | | | | |
| | | International Equity Portfolio | |
| | | Six months ended
November 30, 2012
(unaudited) | | | Year ended
May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment income | | $ | 137,743 | | | $ | 464,140 | |
Net realized gains (losses) on investments | | | (1,002,622 | ) | | | 906,587 | |
Net change in unrealized gains (losses) on investments | | | 3,765,667 | | | | (7,789,823 | ) |
| | | | | | | | |
Net increase (decrease) in net assets resulting from operations | | | 2,900,788 | | | | (6,419,096 | ) |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 701,829 | | | | 3,501,335 | |
Withdrawals | | | (4,319,848 | ) | | | (3,989,591 | ) |
| | | | | | | | |
Net decrease in net assets resulting from capital share transactions | | | (3,618,019 | ) | | | (488,256 | ) |
| | | | | | | | |
Total decrease in net assets | | | (717,231 | ) | | | (6,907,352 | ) |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 23,066,205 | | | | 29,973,557 | |
| | | | | | | | |
End of period | | $ | 22,348,974 | | | $ | 23,066,205 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 138 | | Wells Fargo Advantage Allocation Funds | | Statements of changes in net assets |
| | | | | | | | |
| | | International Growth Portfolio | |
| | | Six months ended
November 30, 2012
(Unaudited) | | | Year ended
May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment income | | $ | 448,537 | | | $ | 2,321,731 | |
Net realized gains on investments | | | 1,430,375 | | | | 5,754,758 | |
Net change in unrealized gains (losses) on investments | | | 15,357,500 | | | | (18,816,975 | ) |
| | | | | | | | |
Net increase (decrease) in net assets resulting from operations | | | 17,236,412 | | | | (10,740,486 | ) |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 1,582,502 | | | | 19,315,418 | |
Withdrawals | | | (15,733,513 | ) | | | (28,198,788 | ) |
| | | | | | | | |
Net decrease in net assets resulting from capital share transactions | | | (14,151,011 | ) | | | (8,883,370 | ) |
| | | | | | | | |
Total increase (decrease) in net assets | | | 3,085,401 | | | | (19,623,856 | ) |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 108,521,467 | | | | 128,145,323 | |
| | | | | | | | |
End of period | | $ | 111,606,868 | | | $ | 108,521,467 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Statements of changes in net assets | | Wells Fargo Advantage Allocation Funds | | | 139 | |
| | | | | | | | |
| | | International Index Portfolio | |
| | | Six months ended
November 30, 2012
(unaudited) | | | Year ended
May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment income | | $ | 251,694 | | | $ | 985,385 | |
Net realized gains (losses) on investments | | | 73,209 | | | | (722,501 | ) |
Net change in unrealized gains (losses) on investments | | | 3,475,597 | | | | (6,151,041 | ) |
| | | | | | | | |
Net increase (decrease) in net assets resulting from operations | | | 3,800,500 | | | | (5,888,157 | ) |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 391,968 | | | | 3,459,407 | |
Withdrawals | | | (5,095,751 | ) | | | (4,306,369 | ) |
| | | | | | | | |
Net decrease in net assets resulting from capital share transactions | | | (4,703,783 | ) | | | (846,962 | ) |
| | | | | | | | |
Total decrease in net assets | | | (903,283 | ) | | | (6,735,119 | ) |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 23,266,434 | | | | 30,001,553 | |
| | | | | | | | |
End of period | | $ | 22,363,151 | | | $ | 23,266,434 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 140 | | Wells Fargo Advantage Allocation Funds | | Statements of changes in net assets |
| | | | | | | | |
| | | International Value Portfolio | |
| | | Six months ended
November 30, 2012
(unaudited) | | | Year ended
May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment income | | $ | 3,176,446 | | | $ | 10,731,272 | |
Net realized losses on investments | | | (2,196,456 | ) | | | (2,485,463 | ) |
Net change in unrealized gains (losses) on investments | | | 48,749,844 | | | | (82,848,290 | ) |
| | | | | | | | |
Net increase (decrease) in net assets resulting from operations | | | 49,729,834 | | | | (74,602,481 | ) |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 40,144,436 | | | | 24,184,061 | |
Withdrawals | | | (19,602,749 | ) | | | (12,254,871 | ) |
| | | | | | | | |
Net increase in net assets resulting from capital share transactions | | | 20,541,687 | | | | 11,929,190 | |
| | | | | | | | |
Total increase (decrease) in net assets | | | 70,271,521 | | | | (62,673,291 | ) |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 289,291,380 | | | | 351,964,671 | |
| | | | | | | | |
End of period | | $ | 359,562,901 | | | $ | 289,291,380 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Statements of changes in net assets | | Wells Fargo Advantage Allocation Funds | | | 141 | |
| | | | | | | | |
| | | Large Company Value Portfolio | |
| | | Six months ended
November 30, 2012
(unaudited) | | | Year ended
May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment income | | $ | 494,621 | | | $ | 975,071 | |
Net realized gains on investments | | | 2,105,222 | | | | 1,843,881 | |
Net change in unrealized gains (losses) on investments | | | 1,500,178 | | | | (6,856,974 | ) |
| | | | | | | | |
Net increase (decrease) in net assets resulting from operations | | | 4,100,021 | | | | (4,038,022 | ) |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 652,885 | | | | 1,638,219 | |
Withdrawals | | | (8,785,261 | ) | | | (11,556,144 | ) |
| | | | | | | | |
Net decrease in net assets resulting from capital share transactions | | | (8,132,376 | ) | | | (9,917,925 | ) |
| | | | | | | | |
Total decrease in net assets | | | (4,032,355 | ) | | | (13,955,947 | ) |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 52,880,149 | | | | 66,836,096 | |
| | | | | | | | |
End of period | | $ | 48,847,794 | | | $ | 52,880,149 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 142 | | Wells Fargo Advantage Allocation Funds | | Statements of changes in net assets |
| | | | | | | | |
| | | Small Cap Value Portfolio | |
| | | Six months ended
November 30, 2012
(unaudited) | | | Year ended
May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment income | | $ | 132,422 | | | $ | 492,526 | |
Net realized gains (losses) on investments | | | 3,788,147 | | | | (320,184 | ) |
Net change in unrealized gains (losses) on investments | | | 1,495,116 | | | | (4,255,368 | ) |
| | | | | | | | |
Net increase (decrease) in net assets resulting from operations | | | 5,415,685 | | | | (4,083,026 | ) |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 570,705 | | | | 6,335,077 | |
Withdrawals | | | (37,608,679 | ) | | | (9,458,467 | ) |
| | | | | | | | |
Net decrease in net assets resulting from capital share transactions | | | (37,037,974 | ) | | | (3,123,390 | ) |
| | | | | | | | |
Total decrease in net assets | | | (31,622,289 | ) | | | (7,206,416 | ) |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 48,107,808 | | | | 55,314,224 | |
| | | | | | | | |
End of period | | $ | 16,485,519 | | | $ | 48,107,808 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Statements of changes in net assets | | Wells Fargo Advantage Allocation Funds | | | 143 | |
| | | | | | | | |
| | | Small Company Growth Portfolio | |
| | | Six months ended
November 30, 2012
(unaudited) | | | Year ended
May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment income (loss) | | $ | 8,038 | | | $ | (317,924 | ) |
Net realized gains on investments | | | 5,166,264 | | | | 43,682,880 | |
Net change in unrealized gains (losses) on investments | | | 6,566,887 | | | | (74,305,951 | ) |
| | | | | | | | |
Net increase (decrease) in net assets resulting from operations | | | 11,741,189 | | | | (30,940,995 | ) |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 5,021,405 | | | | 13,211,256 | |
Withdrawals | | | (47,232,223 | ) | | | (154,050,686 | ) |
| | | | | | | | |
Net decrease in net assets resulting from capital share transactions | | | (42,210,818 | ) | | | (140,839,430 | ) |
| | | | | | | | |
Total decrease in net assets | | | (30,469,629 | ) | | | (171,780,425 | ) |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 162,959,461 | | | | 334,739,886 | |
| | | | | | | | |
End of period | | $ | 132,489,832 | | | $ | 162,959,461 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 144 | | Wells Fargo Advantage Allocation Funds | | Statements of changes in net assets |
| | | | | | | | |
| | | Small Company Value Portfolio | |
| | | Six months ended
November 30, 2012
(unaudited) | | | Year ended
May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment income | | $ | 615,252 | | | $ | 1,415,963 | |
Net realized gains on investments | | | 5,485,956 | | | | 19,382,594 | |
Net change in unrealized gains (losses) on investments | | | 7,055,601 | | | | (37,231,687 | ) |
| | | | | | | | |
Net increase (decrease) in net assets resulting from operations | | | 13,156,809 | | | | (16,433,130 | ) |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 9,312,841 | | | | 25,377,194 | |
Withdrawals | | | (51,511,547 | ) | | | (46,438,479 | ) |
| | | | | | | | |
Net decrease in net assets resulting from capital share transactions | | | (42,198,706 | ) | | | (21,061,285 | ) |
| | | | | | | | |
Total decrease in net assets | | | (29,041,897 | ) | | | (37,494,415 | ) |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 199,262,426 | | | | 236,756,841 | |
| | | | | | | | |
End of period | | $ | 170,220,529 | | | $ | 199,262,426 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Statements of changes in net assets | | Wells Fargo Advantage Allocation Funds | | | 145 | |
| | | | | | | | |
| | | Core Bond Portfolio | |
| | | Six months ended
November 30, 2012
(unaudited) | | | Year ended
May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment income | | $ | 35,509,308 | | | $ | 81,191,274 | |
Net realized gains on investments | | | 107,944,212 | | | | 164,577,584 | |
Net change in unrealized gains (losses) on investments | | | (13,756,598 | ) | | | 29,875,554 | |
| | | | | | | | |
Net increase in net assets resulting from operations | | | 129,696,922 | | | | 275,644,412 | |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 504,049,062 | | | | 686,049,279 | |
Withdrawals | | | (764,041,287 | ) | | | (443,191,494 | ) |
| | | | | | | | |
Net increase (decrease) in net assets resulting from capital share transactions | | | (259,992,225 | ) | | | 242,857,785 | |
| | | | | | | | |
Total increase (decrease) in net assets | | | (130,295,303 | ) | | | 518,502,197 | |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 3,813,536,144 | | | | 3,295,033,947 | |
| | | | | | | | |
End of period | | $ | 3,683,240,841 | | | $ | 3,813,536,144 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 146 | | Wells Fargo Advantage Allocation Funds | | Statements of changes in net assets |
| | | | | | | | |
| | | Inflation-Protected Bond Portfolio | |
| | | Six months ended
November 30, 2012
(unaudited) | | | Year ended
May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment income | | $ | 793,755 | | | $ | 2,680,432 | |
Net realized gains on investments | | | 1,936,141 | | | | 5,557,478 | |
Net change in unrealized gains (losses) on investments | | | (559,251 | ) | | | 3,311,880 | |
| | | | | | | | |
Net increase in net assets resulting from operations | | | 2,170,645 | | | | 11,549,790 | |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 8,593,093 | | | | 21,266,199 | |
Withdrawals | | | (13,193,227 | ) | | | (54,247,708 | ) |
| | | | | | | | |
Net decrease in net assets resulting from capital share transactions | | | (4,600,134 | ) | | | (32,981,509 | ) |
| | | | | | | | |
Total decrease in net assets | | | (2,429,489 | ) | | | (21,431,719 | ) |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 83,449,310 | | | | 104,881,029 | |
| | | | | | | | |
End of period | | $ | 81,019,821 | | | $ | 83,449,310 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Statements of changes in net assets | | Wells Fargo Advantage Allocation Funds | | | 147 | |
| | | | | | | | |
| | | Managed Fixed Income Portfolio | |
| | | Six months ended
November 30, 2012
(unaudited) | | | Year ended
May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment income | | $ | 2,219,125 | | | $ | 5,660,417 | |
Net realized gains on investments | | | 2,992,518 | | | | 2,120,364 | |
Net change in unrealized gains (losses) on investments | | | (105,767 | ) | | | 2,573,185 | |
| | | | | | | | |
Net increase in net assets resulting from operations | | | 5,105,876 | | | | 10,353,966 | |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 15,433,971 | | | | 55,876,275 | |
Withdrawals | | | (41,031,727 | ) | | | (84,676,792 | ) |
| | | | | | | | |
Net decrease in net assets resulting from capital share transactions | | | (25,597,756 | ) | | | (28,800,517 | ) |
| | | | | | | | |
Total decrease in net assets | | | (20,491,880 | ) | | | (18,446,551 | ) |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 141,903,295 | | | | 160,349,846 | |
| | | | | | | | |
End of period | | $ | 121,411,415 | | | $ | 141,903,295 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 148 | | Wells Fargo Advantage Allocation Funds | | Statements of changes in net assets |
| | | | | | | | |
| | | Stable Income Portfolio | |
| | | Six months ended November 30, 2012
(unaudited) | | | Year ended May 31, 2012 | |
| | |
Operations | | | | | | | | |
Net investment income | | $ | 285,437 | | | $ | 666,108 | |
Net realized gains (losses) on investments | | | 96,731 | | | | (60,837 | ) |
Net change in unrealized gains on investments | | | 249,675 | | | | 21,566 | |
| | | | | | | | |
Net increase in net assets resulting from operations | | | 631,843 | | | | 626,837 | |
| | | | | | | | |
| | |
Capital share transactions | | | | | | | | |
Transactions in investors’ beneficial interests | | | | | | | | |
Contributions | | | 2,902,589 | | | | 6,568,824 | |
Withdrawals | | | (6,479,139 | ) | | | (8,980,294 | ) |
| | | | | | | | |
Net decrease in net assets resulting from capital share transactions | | | (3,576,550 | ) | | | (2,411,470 | ) |
| | | | | | | | |
Total decrease in net assets | | | (2,944,707 | ) | | | (1,784,633 | ) |
| | | | | | | | |
| | |
Net assets | | | | | | | | |
Beginning of period | | | 37,740,639 | | | | 39,525,272 | |
| | | | | | | | |
End of period | | $ | 34,795,932 | | | $ | 37,740,639 | |
| | | | | | | | |
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Financial highlights | | Wells Fargo Advantage Allocation Funds | | | 149 | |
| | | | | | | | | | | | | | | | | | | | |
| | | Ratio to average net assets (annualized) | | | Total
return1 | | | Portfolio turnover rate | |
| | | Net investment
income (loss) | | | Gross
expenses | | | Net
expenses | | | |
| | | | | |
C&B Large Cap Value Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | 1.99 | % | | | 0.68 | % | | | 0.68 | % | | | 6.87 | % | | | 6 | % |
June 1, 2011 to May 31, 2012 | | | 1.81 | % | | | 0.68 | % | | | 0.68 | % | | | (4.61 | )% | | | 21 | % |
October 1, 2010 to May 31, 20112 | | | 1.27 | % | | | 0.67 | % | | | 0.67 | % | | | 18.08 | % | | | 17 | % |
October 1, 2009 to September 30, 2010 | | | 1.40 | % | | | 0.70 | % | | | 0.68 | % | | | 7.49 | % | | | 13 | % |
October 1, 2008 to September 30, 2009 | | | 2.19 | % | | | 0.73 | % | | | 0.64 | % | | | (5.53 | )% | | | 28 | % |
October 1, 2007 to September 30, 2008 | | | 1.71 | % | | | 0.73 | % | | | 0.68 | % | | | (20.18 | )% | | | 21 | % |
October 1, 2006 to September 30, 2007 | | | 1.48 | % | | | 0.74 | % | | | 0.68 | % | | | 11.88 | % | | | 24 | % |
| | | | | |
Diversified Large Cap Growth Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | 0.35 | % | | | 0.71 | % | | | 0.62 | % | | | 7.50 | % | | | 29 | % |
June 1, 2011 to May 31, 2012 | | | 0.24 | % | | | 0.71 | % | | | 0.62 | % | | | 1.26 | % | | | 79 | % |
October 1, 2010 to May 31, 20112,3 | | | 0.40 | % | | | 0.69 | % | | | 0.62 | % | | | 22.78 | % | | | 101 | % |
October 1, 2009 to September 30, 20103 | | | 0.66 | % | | | 0.70 | % | | | 0.62 | % | | | 7.51 | % | | | 11 | % |
October 1, 2008 to September 30, 20093 | | | 0.97 | % | | | 0.70 | % | | | 0.62 | % | | | 3.31 | % | | | 13 | % |
October 1, 2007 to September 30, 20083 | | | 0.48 | % | | | 0.68 | % | | | 0.67 | % | | | (22.59 | )% | | | 7 | % |
October 1, 2006 to September 30, 20073 | | | 0.46 | % | | | 0.70 | % | | | 0.68 | % | | | 17.80 | % | | | 10 | % |
| | | | | |
Emerging Growth Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | (0.43 | )% | | | 0.80 | % | | | 0.80 | % | | | 1.25 | % | | | 32 | % |
June 1, 2011 to May 31, 2012 | | | (0.57 | )% | | | 0.80 | % | | | 0.80 | % | | | (4.83 | )% | | | 75 | % |
October 1, 2010 to May 31, 20112 | | | (0.77 | )% | | | 0.94 | % | | | 0.91 | % | | | 37.91 | % | | | 59 | % |
October 1, 2009 to September 30, 2010 | | | (0.66 | )% | | | 1.02 | % | | | 0.94 | % | | | 20.49 | % | | | 97 | % |
October 1, 2008 to September 30, 2009 | | | (0.53 | )% | | | 0.94 | % | | | 0.91 | % | | | (5.70 | )% | | | 147 | % |
October 1, 2007 to September 30, 2008 | | | (0.49 | )% | | | 0.93 | % | | | 0.92 | % | | | (30.95 | )% | | | 191 | % |
January 31, 20074 to September 30, 2007 | | | (0.54 | )% | | | 1.01 | % | | | 0.99 | % | | | 24.40 | % | | | 125 | % |
| | | | | |
Equity Value Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | 1.68 | % | | | 0.65 | % | | | 0.65 | % | | | 11.12 | % | | | 42 | % |
June 1, 2011 to May 31, 2012 | | | 1.58 | % | | | 0.65 | % | | | 0.65 | % | | | (10.22 | )% | | | 103 | % |
October 1, 2010 to May 31, 20112 | | | 0.79 | % | | | 0.68 | % | | | 0.68 | % | | | 20.88 | % | | | 90 | % |
October 1, 2009 to September 30, 2010 | | | 0.87 | % | | | 0.71 | % | | | 0.69 | % | | | 9.75 | % | | | 122 | % |
October 1, 2008 to September 30, 2009 | | | 1.89 | % | | | 0.73 | % | | | 0.69 | % | | | (7.21 | )% | | | 142 | % |
October 1, 2007 to September 30, 2008 | | | 1.68 | % | | | 0.74 | % | | | 0.70 | % | | | (27.44 | )% | | | 152 | % |
October 1, 2006 to September 30, 2007 | | | 1.29 | % | | | 0.77 | % | | | 0.69 | % | | | 20.21 | % | | | 108 | % |
| | | | | |
Index Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | 2.19 | % | | | 0.10 | % | | | 0.10 | % | | | 9.30 | % | | | 2 | % |
June 1, 2011 to May 31, 2012 | | | 2.09 | % | | | 0.10 | % | | | 0.10 | % | | | (0.52 | )% | | | 9 | % |
October 1, 2010 to May 31, 20112 | | | 1.93 | % | | | 0.10 | % | | | 0.10 | % | | | 19.39 | % | | | 3 | % |
October 1, 2009 to September 30, 2010 | | | 2.01 | % | | | 0.10 | % | | | 0.10 | % | | | 9.97 | % | | | 22 | % |
October 1, 2008 to September 30, 2009 | | | 2.61 | % | | | 0.12 | % | | | 0.10 | % | | | (7.00 | )% | | | 10 | % |
October 1, 2007 to September 30, 2008 | | | 2.07 | % | | | 0.11 | % | | | 0.11 | % | | | (22.28 | )% | | | 5 | % |
October 1, 2006 to September 30, 2007 | | | 1.86 | % | | | 0.11 | % | | | 0.10 | % | | | 16.35 | % | | | 8 | % |
| | | | | |
International Equity Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | 1.20 | % | | | 1.40 | % | | | 1.37 | % | | | 13.61 | % | | | 24 | % |
June 1, 2011 to May 31, 2012 | | | 1.79 | % | | | 1.26 | % | | | 1.21 | % | | | (22.13 | )% | | | 141 | % |
October 1, 2010 to May 31, 20112 | | | 1.34 | % | | | 1.18 | % | | | 1.18 | % | | | 14.83 | % | | | 35 | % |
October 1, 2009 to September 30, 2010 | | | 0.61 | % | | | 1.31 | % | | | 1.28 | % | | | 6.57 | % | | | 105 | % |
October 1, 2008 to September 30, 2009 | | | 1.77 | % | | | 1.23 | % | | | 1.15 | % | | | (10.14 | )% | | | 212 | % |
October 1, 2007 to September 30, 2008 | | | 1.60 | % | | | 1.14 | % | | | 1.12 | % | | | (31.42 | )% | | | 55 | % |
October 1, 2006 to September 30, 2007 | | | 1.27 | % | | | 1.09 | % | | | 1.08 | % | | | 23.70 | % | | | 66 | % |
Please see footnotes on page 151.
The accompanying notes are an integral part of these financial statements.
| | | | |
| 150 | | Wells Fargo Advantage Allocation Funds | | Financial highlights |
| | | | | | | | | | | | | | | | | | | | |
| | | Ratio to average net assets (annualized) | | | Total
return1 | | | Portfolio turnover rate | |
| | | Net investment
income (loss) | | | Gross
expenses | | | Net
expenses | | | |
| | | | | |
International Growth Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | 0.79 | % | | | 1.01 | % | | | 1.01 | % | | | 16.75 | % | | | 21 | % |
June 1, 2011 to May 31, 2012 | | | 2.04 | % | | | 0.97 | % | | | 0.90 | % | | | (9.44 | )% | | | 69 | % |
October 1, 2010 to May 31, 20112 | | | 1.62 | % | | | 1.10 | % | | | 1.10 | % | | | 14.50 | % | | | 53 | % |
October 1, 2009 to September 30, 2010 | | | 0.89 | % | | | 1.42 | % | | | 1.20 | % | | | 3.25 | % | | | 89 | % |
October 1, 2008 to September 30, 2009 | | | 1.71 | % | | | 1.14 | % | | | 1.11 | % | | | 6.23 | % | | | 95 | % |
October 1, 2007 to September 30, 2008 | | | 1.17 | % | | | 1.08 | % | | | 1.05 | % | | | (28.68 | )% | | | 57 | % |
October 1, 2006 to September 30, 2007 | | | 1.09 | % | | | 1.06 | % | | | 1.03 | % | | | 27.40 | % | | | 73 | % |
| | | | | |
International Index Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | 2.17 | % | | | 1.10 | % | | | 0.38 | % | | | 18.07 | % | | | 2 | % |
June 1, 2011 to May 31, 2012 | | | 3.81 | % | | | 0.83 | % | | | 0.37 | % | | | (20.52 | )% | | | 45 | % |
October 1, 2010 to May 31, 20112 | | | 3.09 | % | | | 0.48 | % | | | 0.48 | % | | | 13.78 | % | | | 3 | % |
October 1, 2009 to September 30, 2010 | | | 2.17 | % | | | 0.77 | % | | | 0.65 | % | | | 2.47 | % | | | 20 | % |
October 1, 2008 to September 30, 2009 | | | 2.86 | % | | | 0.55 | % | | | 0.46 | % | | | 1.65 | % | | | 13 | % |
October 1, 2007 to September 30, 2008 | | | 2.84 | % | | | 0.51 | % | | | 0.50 | % | | | (29.67 | )% | | | 14 | % |
October 1, 2006 to September 30, 2007 | | | 2.15 | % | | | 0.49 | % | | | 0.49 | % | | | 24.52 | % | | | 3 | % |
| | | | | |
International Value Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | 1.94 | % | | | 0.90 | % | | | 0.90 | % | | | 17.08 | % | | | 9 | % |
June 1, 2011 to May 31, 2012 | | | 3.44 | % | | | 0.91 | % | | | 0.85 | % | | | (21.07 | )% | | | 9 | % |
October 1, 2010 to May 31, 20112 | | | 3.14 | % | | | 0.94 | % | | | 0.94 | % | | | 14.00 | % | | | 16 | % |
October 1, 2009 to September 30, 2010 | | | 2.41 | % | | | 1.20 | % | | | 1.06 | % | | | 0.92 | % | | | 27 | % |
October 1, 2008 to September 30, 2009 | | | 2.72 | % | | | 1.08 | % | | | 1.03 | % | | | 5.26 | % | | | 41 | % |
October 1, 2007 to September 30, 2008 | | | 3.68 | % | | | 1.07 | % | | | 1.01 | % | | | (34.21 | )% | | | 23 | % |
October 1, 2006 to September 30, 2007 | | | 2.47 | % | | | 1.07 | % | | | 1.03 | % | | | 21.91 | % | | | 19 | % |
| | | | | |
Large Company Value Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | 1.92 | % | | | 0.79 | % | | | 0.74 | % | | | 8.38 | % | | | 32 | % |
June 1, 2011 to May 31, 2012 | | | 1.67 | % | | | 0.77 | % | | | 0.74 | % | | | (6.06 | )% | | | 104 | % |
October 1, 2010 to May 31, 20112 | | | 1.58 | % | | | 0.78 | % | | | 0.74 | % | | | 21.46 | % | | | 38 | % |
October 1, 2009 to September 30, 2010 | | | 1.73 | % | | | 0.73 | % | | | 0.72 | % | | | 7.02 | % | | | 46 | % |
October 1, 2008 to September 30, 2009 | | | 2.69 | % | | | 0.75 | % | | | 0.69 | % | | | (9.66 | )% | | | 11 | % |
October 1, 2007 to September 30, 2008 | | | 2.16 | % | | | 0.75 | % | | | 0.57 | % | | | (23.18 | )% | | | 8 | % |
October 1, 2006 to September 30, 2007 | | | 1.91 | % | | | 0.76 | % | | | 0.57 | % | | | 15.91 | % | | | 16 | % |
| | | | | |
Small Cap Value Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | 0.63 | % | | | 0.97 | % | | | 0.92 | % | | | 10.41 | % | | | 20 | % |
June 1, 2011 to May 31, 2012 | | | 1.02 | % | | | 0.95 | % | | | 0.91 | % | | | (7.94 | )% | | | 33 | % |
October 1, 2010 to May 31, 20112 | | | 0.47 | % | | | 0.95 | % | | | 0.91 | % | | | 13.14 | % | | | 57 | % |
October 1, 2009 to September 30, 2010 | | | 0.66 | % | | | 0.94 | % | | | 0.91 | % | | | 9.60 | % | | | 38 | % |
October 1, 2008 to September 30, 2009 | | | 1.31 | % | | | 0.91 | % | | | 0.74 | % | | | (8.76 | )% | | | 50 | % |
October 1, 2007 to September 30, 2008 | | | 0.80 | % | | | 0.91 | % | | | 0.83 | % | | | (16.47 | )% | | | 46 | % |
October 1, 2006 to September 30, 2007 | | | 0.30 | % | | | 0.93 | % | | | 0.92 | % | | | 8.65 | % | | | 64 | % |
| | | | | |
Small Company Growth Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | 0.01 | % | | | 0.86 | % | | | 0.86 | % | | | 7.71 | % | | | 48 | % |
June 1, 2011 to May 31, 2012 | | | (0.12 | )% | | | 0.83 | % | | | 0.83 | % | | | (10.75 | )% | | | 107 | % |
October 1, 2010 to May 31, 20112 | | | (0.42 | )% | | | 0.83 | % | | | 0.83 | % | | | 39.64 | % | | | 70 | % |
October 1, 2009 to September 30, 2010 | | | (0.48 | )% | | | 0.87 | % | | | 0.86 | % | | | 15.25 | % | | | 129 | % |
October 1, 2008 to September 30, 2009 | | | (0.53 | )% | | | 0.89 | % | | | 0.87 | % | | | 1.75 | % | | | 169 | % |
October 1, 2007 to September 30, 2008 | | | (0.53 | )% | | | 0.89 | % | | | 0.89 | % | | | (27.50 | )% | | | 150 | % |
October 1, 2006 to September 30, 2007 | | | (0.46 | )% | | | 0.90 | % | | | 0.90 | % | | | 17.74 | % | | | 138 | % |
Please see footnotes on page 151.
The accompanying notes are an integral part of these financial statements.
| | | | | | |
| Financial highlights | | Wells Fargo Advantage Allocation Funds | | | 151 | |
| | | | | | | | | | | | | | | | | | | | |
| | | Ratio to average net assets (annualized) | | | Total
return1 | | | Portfolio turnover rate | |
| | | Net investment
income | | | Gross
expenses | | | Net
expenses | | | |
| | | | | |
Small Company Value Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | 0.62 | % | | | 0.84 | % | | | 0.84 | % | | | 6.95 | % | | | 34 | % |
June 1, 2011 to May 31, 2012 | | | 0.69 | % | | | 0.84 | % | | | 0.84 | % | | | (7.17 | )% | | | 60 | % |
October 1, 2010 to May 31, 20112 | | | 1.60 | % | | | 0.84 | % | | | 0.84 | % | | | 26.72 | % | | | 47 | % |
October 1, 2009 to September 30, 2010 | | | 0.31 | % | | | 0.89 | % | | | 0.89 | % | | | 16.38 | % | | | 60 | % |
October 1, 2008 to September 30, 2009 | | | 1.16 | % | | | 0.90 | % | | | 0.88 | % | | | (6.28 | )% | | | 99 | % |
October 1, 2007 to September 30, 2008 | | | 1.02 | % | | | 0.90 | % | | | 0.89 | % | | | (22.01 | )% | | | 82 | % |
October 1, 2006 to September 30, 2007 | | | 0.53 | % | | | 0.93 | % | | | 0.92 | % | | | 6.53 | % | | | 69 | % |
| | | | | |
Core Bond Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | 1.79 | % | | | 0.36 | % | | | 0.35 | % | | | 3.35 | % | | | 270 | % |
June 1, 2011 to May 31, 2012 | | | 2.33 | % | | | 0.37 | % | | | 0.35 | % | | | 8.20 | % | | | 803 | % |
June 1, 2010 to May 31, 2011 | | | 2.99 | % | | | 0.37 | % | | | 0.35 | % | | | 7.02 | % | | | 789 | % |
June 1, 2009 to May 31, 2010 | | | 3.78 | % | | | 0.38 | % | | | 0.34 | % | | | 10.87 | % | | | 638 | % |
June 1, 2008 to May 31, 2009 | | | 4.92 | % | | | 0.40 | % | | | 0.39 | % | | | 6.58 | % | | | 633 | % |
June 1, 2007 to May 31, 2008 | | | 5.05 | % | | | 0.42 | % | | | 0.40 | % | | | 6.72 | % | | | 572 | % |
| | | | | |
Inflation-Protected Bond Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | 1.91 | % | | | 0.48 | % | | | 0.44 | % | | | 2.69 | % | | | 9 | % |
June 1, 2011 to May 31, 2012 | | | 3.00 | % | | | 0.48 | % | | | 0.44 | % | | | 12.62 | % | | | 23 | % |
June 1, 2010 to May 31, 2011 | | | 3.25 | % | | | 0.44 | % | | | 0.43 | % | | | 8.19 | % | | | 19 | % |
June 1, 2009 to May 31, 2010 | | | 3.53 | % | | | 0.45 | % | | | 0.44 | % | | | 8.28 | % | | | 31 | % |
June 1, 2008 to May 31, 2009 | | | 1.70 | % | | | 0.45 | % | | | 0.37 | % | | | (1.33 | )% | | | 53 | % |
June 1, 2007 to May 31, 2008 | | | 5.78 | % | | | 0.48 | % | | | 0.40 | % | | | 12.78 | % | | | 40 | % |
| | | | | |
Managed Fixed Income Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | 3.52 | % | | | 0.46 | % | | | 0.39 | % | | | 4.09 | % | | | 26 | % |
June 1, 2011 to May 31, 2012 | | | 3.83 | % | | | 0.46 | % | | | 0.39 | % | | | 6.97 | % | | | 51 | % |
June 1, 2010 to May 31, 2011 | | | 3.97 | % | | | 0.45 | % | | | 0.39 | % | | | 8.84 | % | | | 104 | % |
June 1, 2009 to May 31, 2010 | | | 3.64 | % | | | 0.42 | % | | | 0.38 | % | | | 14.58 | % | | | 59 | % |
June 1, 2008 to May 31, 2009 | | | 5.09 | % | | | 0.43 | % | | | 0.34 | % | | | (1.72 | )% | | | 132 | % |
June 1, 2007 to May 31, 2008 | | | 5.23 | % | | | 0.46 | % | | | 0.30 | % | | | 4.24 | % | | | 32 | % |
| | | | | |
Stable Income Portfolio | | | | | | | | | | | | | | | | | | | | |
June 1, 2012 to November 30, 2012 (unaudited) | | | 1.63 | % | | | 0.58 | % | | | 0.41 | % | | | 1.85 | % | | | 13 | % |
June 1, 2011 to May 31, 2012 | | | 1.76 | % | | | 0.59 | % | | | 0.41 | % | | | 1.71 | % | | | 11 | % |
June 1, 2010 to May 31, 2011 | | | 2.02 | % | | | 0.54 | % | | | 0.40 | % | | | 2.97 | % | | | 14 | % |
June 1, 2009 to May 31, 2010 | | | 1.90 | % | | | 0.43 | % | | | 0.40 | % | | | 9.94 | % | | | 10 | % |
June 1, 2008 to May 31, 2009 | | | 3.74 | % | | | 0.43 | % | | | 0.42 | % | | | (2.73 | )% | | | 7 | % |
June 1, 2007 to May 31, 2008 | | | 4.67 | % | | | 0.47 | % | | | 0.33 | % | | | 0.78 | % | | | 22 | % |
| 1. | Returns for periods of less than one year are not annualized. |
| 2. | For the eight months ended May 31, 2011. The Portfolio changed its fiscal year end from September 30 to May 31, effective May 31, 2011. |
| 3. | After the close of business on January 28, 2011, the Diversified Large Cap Growth Portfolio acquired the net assets of Wells Fargo Advantage Disciplined Growth Portfolio, Wells Fargo Advantage Large Cap Appreciation Portfolio, and Wells Fargo Advantage Large Company Growth Portfolio. Wells Fargo Advantage Large Company Growth Portfolio became the accounting and performance survivor in the transaction. The information for the periods prior to January 31, 2011 is that of the Wells Fargo Advantage Large Company Growth Portfolio. |
| 4. | Commencement of operations. |
The accompanying notes are an integral part of these financial statements.
| | | | |
| 152 | | Wells Fargo Advantage Allocation Funds | | Notes to financial statements (unaudited) |
1. ORGANIZATION
Wells Fargo Master Trust (the “Trust”), a Delaware statutory trust organized on March 10, 1999, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). These financial statements report on the following funds: Wells Fargo Advantage C&B Large Cap Value Portfolio (“C&B Large Cap Value Portfolio”), Wells Fargo Advantage Diversified Large Cap Growth Portfolio (“Diversified Large Cap Growth Portfolio”), Wells Fargo Advantage Emerging Growth Portfolio (“Emerging Growth Portfolio”), Wells Fargo Advantage Equity Value Portfolio (“Equity Value Portfolio”), Wells Fargo Advantage Index Portfolio (“Index Portfolio”), Wells Fargo Advantage International Equity Portfolio (“International Equity Portfolio”), Wells Fargo Advantage International Growth Portfolio (“International Growth Portfolio”), Wells Fargo Advantage International Index Portfolio (“International Index Portfolio”), Wells Fargo Advantage International Value Portfolio (“International Value Portfolio”), Wells Fargo Advantage Large Company Value Portfolio (“Large Company Value Portfolio”), Wells Fargo Advantage Small Cap Value Portfolio (“Small Cap Value Portfolio”), Wells Fargo Advantage Small Company Growth Portfolio (“Small Company Growth Portfolio”), Wells Fargo Advantage Small Company Value Portfolio (“Small Company Value Portfolio”), Wells Fargo Advantage Core Bond Portfolio (“Core Bond Portfolio” ) (formerly, Wells Fargo Advantage Total Return Bond Portfolio), Wells Fargo Advantage Inflation-Protected Bond Portfolio (“Inflation-Protected Bond Portfolio”), Wells Fargo Advantage Managed Fixed Income Portfolio (“Managed Fixed Income Portfolio”) and Wells Fargo Advantage Stable Income Portfolio (“Stable Income Portfolio”) (each, a “Portfolio”, collectively, the “Portfolios”). Each Portfolio is a diversified series of the Trust.
The Portfolios, which are master portfolios in a master/feeder structure, offer their shares to multiple feeder funds and other master portfolios rather than directly to the public.
2. SIGNIFICANT ACCOUNTING POLICIES
The following significant accounting policies, which are consistently followed in the preparation of the financial statements of each Portfolio, are in conformity with U.S. generally accepted accounting principles which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Securities valuation
All investments are valued each business day as of the close of regular trading on the New York Stock Exchange (normally 4 p.m. Eastern Time).
Equity securities that are listed on a foreign or domestic exchange, except for The Nasdaq Stock Market, Inc. (“Nasdaq”), are valued at the official closing price or, if none, the last sales price. Securities listed on Nasdaq are valued at the Nasdaq Official Closing Price (“NOCP”). If no NOCP is available, securities are valued at the last prior sales price. If no sales price is shown on the Nasdaq, the bid price will be used. If no sale occurs on the primary exchange or market for the security that day or if no sale occurs and no bid price is shown on Nasdaq, the prior day’s price will be deemed “stale” and fair values will be determined in accordance with the Portfolios’ Valuation Procedures.
Securities denominated in foreign currencies are translated into U.S. dollars using the rates of exchange in effect on the day of valuation at a time specified by the Management Valuation Team of Wells Fargo Funds Management, LLC (“Funds Management”).
Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange and therefore may not fully reflect trading or events that occur after the close of the principal exchange in which the foreign securities are traded, but before the close of the New York Stock Exchange. If such trading or events are expected to materially affect the value of such securities, then fair value pricing procedures approved by the Board of Trustees are applied. These procedures take into account multiple factors including movements in U.S. securities markets after foreign exchanges close. Foreign securities that are fair valued under these procedures are categorized as Level 2 and the application of these procedures may result in transfers between Level 1 and Level 2. Depending on market activity, such fair valuations may be frequent. Such fair value pricing may result in NAVs that are higher or lower than NAVs based on the last reported sales price or latest quoted bid price. On November 30, 2012, fair value pricing was not used in pricing foreign securities.
Debt securities of sufficient credit quality acquired with maturities of 60 days or less generally are valued at amortized cost which approximates fair value. The amortized cost method involves valuing a security at its cost, plus accretion of discount or minus amortization of premium over the period until maturity.
| | | | | | |
| Notes to financial statements (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 153 | |
Investments in registered open-end investment companies are valued at net asset value. Non-registered investment companies are fair valued at net asset value.
Investments which are not valued using any of the methods discussed above are valued at their fair value, as determined by procedures established in good faith and approved by the Board of Trustees. The Board of Trustees has established a Valuation Committee comprised of the Trustees and has delegated to it the authority to take any actions regarding the valuation of portfolio securities that the Valuation Committee deems necessary or appropriate, including determining the fair value of portfolio securities, unless the determination has been delegated to the Management Valuation Team of Wells Fargo Funds Management, LLC (“Fund Management”). The Board of Trustees retains the authority to make or ratify any valuation decisions or approve any changes to the Valuation Procedures as it deems appropriate. On a quarterly basis, the Board of Trustees receives reports on any valuation actions taken by the Valuation Committee or the Management Valuation Team which may include items for ratification.
Valuations of fair valued securities are compared to the next actual sales price when available, or other appropriate market information to assess the continued appropriateness of the fair valuation methodology used. These securities are fair valued on a day-to-day basis, taking into consideration changes to appropriate market information and any significant changes to the input factors considered in the valuation process until there is a readily available price provided on the exchange or by an independent pricing service. Valuations received from an independent pricing service or broker quotes are periodically validated by comparisons to most recent trades and valuations provided by other independent pricing services in addition to the review of prices by the adviser and/or subadviser. Unobservable inputs used in determining fair valuations are identified based on the type of security, taking into consideration factors utilized by market participants in valuing the investment, knowledge about the issuer and the current market environment.
Foreign currency translation
The accounting records of the Portfolios are maintained in U.S. dollars. Assets, including investment securities, and liabilities denominated in foreign currency are translated into U.S. dollars at the rates of exchange at a time specified by the Management Valuation Team on the date of valuation. Purchases and sales of securities, and income and expenses are converted at the rate of exchange on the respective dates of such transactions. Reported net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the U.S. dollar equivalent of the amounts actually paid or received. Net unrealized foreign exchange gains and losses arise from changes in the fair value of assets and liabilities other than investments in securities resulting in changes in exchange rates.
The changes in net assets arising from changes in exchange rates and the changes in net assets resulting from changes in market prices of securities are not separately presented. Such changes are recorded with net realized and unrealized gains or losses from investments. Gains and losses from certain foreign currency transactions are treated as ordinary income for U.S. federal income tax purposes.
Forward foreign currency contracts
Certain Portfolios may be subject to foreign currency exchange rate risk in the normal course of pursuing its investment objectives. A forward foreign currency contract is an agreement between two parties to purchase or sell a specific currency for an agreed-upon price at a future date. The Portfolio enters into forward foreign currency contracts to facilitate transactions in foreign-denominated securities and to attempt to minimize the risk to the Portfolio from adverse changes in the relationship between currencies. Forward foreign currency contracts are recorded at the forward rate and marked-to-market daily. When the contracts are closed, realized gains and losses arising from such transactions are recorded as realized gains or losses on forward foreign currency contract transactions. The Portfolio could be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. The Portfolio’s maximum risk of loss from counterparty credit risk is the unrealized gains or losses on the contracts. This risk is mitigated by having a master netting arrangement between the Portfolio and the counterparty.
Security loans
The Portfolios may lend their securities from time to time in order to earn additional income in the form of fees or interest on securities received as collateral or the investment of any cash received as collateral. The Portfolios continue to receive interest or dividends on the securities loaned. The Portfolios receive collateral in the form of cash or securities with a value at least equal to the value of the securities on loan. The value of the loaned securities is determined at the close of each business day and any additional required collateral is delivered to the Portfolios on the next business day. In a securities lending transaction, the net asset value of the Portfolios will be affected by an increase or decrease in the value of the securities loaned and by an increase or decrease in the value of the instrument in which collateral is invested. The
| | | | |
| 154 | | Wells Fargo Advantage Allocation Funds | | Notes to financial statements (unaudited) |
amount of securities lending activity undertaken by the Portfolios fluctuate from time to time, In the event of default or bankruptcy by the borrower, the Portfolios may be prevented from recovering the loaned securities or gaining access to the collateral or may experience delays or costs in doing so. In addition, the investment of any cash collateral received may lose all or part of its value. The Portfolios have the right under the lending agreement to recover the securities from the borrower on demand.
The Portfolios lend their securities through an unaffiliated securities lending agent. Cash collateral received in connection with its securities lending transactions is invested in Wells Fargo Securities Lending Cash Investments, LLC (the “Cash Collateral Fund”). The Cash Collateral Fund is exempt from registration under Section 3(c)(7) of the 1940 Act and is managed by Funds Management and is subadvised by Wells Capital Management Incorporated (“WellsCap”). Funds Management receives an advisory fee starting at 0.05% and declining to 0.01% as the average daily net assets of the Cash Collateral Fund increase. All of the fees received by Funds Management are paid to WellsCap for its services as subadviser. The Cash Collateral Fund seeks to provide a positive return compared to the daily Fed Funds Open rate by investing in high-quality, U.S. dollar-denominated short-term money market instruments. Cash Collateral Fund investments are fair valued based upon the amortized cost valuation technique. Income earned from investment in the Cash Collateral Fund is included in securities lending income on the Statements of Operations.
When-issued transactions
Each Portfolio may purchase securities on a forward commitment or ‘when-issued’ basis. A Portfolio records a when-issued transaction on the trade date and will segregate assets in an amount at least equal in value to the Portfolio’s commitment to purchase when-issued securities. Securities purchased on a when-issued basis are marked-to-market daily and the Portfolio begins earning interest on the settlement date. Losses may arise due to changes in the market value of the underlying securities or if the counterparty does not perform under the contract.
Term loans
Each Portfolio may invest in term loans. The Portfolio begins earning interest when the loans are funded. The loans pay interest at rates which are periodically reset by reference to a base lending rate plus a spread. The Portfolio assumes the credit risk of the borrower and there could be potential loss to the Portfolio in the event of default by the borrower.
Futures contracts
Certain Portfolios may be subject to interest rate risk and equity price risk in the normal course of pursuing its investment objectives. The Portfolio may buy and sell futures contracts in order to gain exposure to, or protect against, changes in security values and interest rates. The primary risks associated with the use of futures contracts are the imperfect correlation between changes in market values of securities held by the Portfolio and the prices of futures contracts, and the possibility of an illiquid market.
Futures contracts are valued based upon their quoted daily settlement prices when available. The aggregate principal amounts of the contracts are not recorded in the financial statements. Fluctuations in the value of the contracts are recorded in the Statements of Assets and Liabilities as an asset or liability and in the Statements of Operations as unrealized gains or losses until the contracts are closed, at which point they are recorded as net realized gains or losses on futures contracts. With futures contracts, there is minimal counterparty risk to the Portfolio since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default.
TBA sale commitments
A Portfolio may enter into To Be Announced (“TBA”) sale commitments to hedge its portfolio positions or to sell mortgage-backed securities it owns under delayed delivery arrangements. Proceeds of TBA sale commitments are not received until the contractual settlement date. During the time a TBA sale commitment is outstanding, equivalent deliverable securities or offsetting TBA purchase commitments, which are deliverable on or before the sale commitment date, are held as “cover” for the transaction. Unsettled TBA sale commitments are valued at the current market value of the underlying securities, generally according to the procedures described under “Securities valuation”. The contract is marked-to-market daily and the change in market value is recorded by the Portfolio as an unrealized gain or loss. If the TBA sale commitment is closed through the acquisition of an offsetting purchase commitment, the Portfolio realizes a gain or loss. If the Portfolio delivers securities under the commitment, the Portfolio realizes a gain or a loss from the sale of the securities based upon the unit price established at the date the commitment was entered into.
Inflation-indexed bonds and TIPS
Certain Portfolios may invest in inflation-indexed bonds, including Treasury inflation-protected securities (TIPS). Inflation-indexed bonds are fixed income securities whose principal value is periodically adjusted according to the rate of inflation. If the index measuring inflation falls, the principal value of inflation-indexed bonds (other than municipal inflation
| | | | | | |
| Notes to financial statements (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 155 | |
indexed bonds and certain corporate inflation-indexed bonds) will be adjusted downward, and consequently the interest payable on these securities (calculated with respect to a smaller principal amount) will be reduced. Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury inflation-indexed bonds. For bonds that do not provide a similar guarantee, the adjusted principal value of the bond repaid at maturity may be less than the original principal. The value of inflation-indexed bonds is expected to change in response to changes in real interest rates. Real interest rates are tied to the relationship between nominal interest rates and the rate of inflation. If nominal interest rates increase at a faster rate than inflation, real interest rates may rise, leading to a decrease in value of inflation-indexed bonds. Inflation-indexed bonds, including TIPS, decline in value when real interest rates rise. In certain interest rate environments, such as when real interest rates are rising faster than nominal interest rates, inflation-indexed bonds may experience greater losses than other fixed income securities with similar durations.
Credit default swaps
Certain Portfolios may be subject to credit risk in the normal course of pursuing its investment objectives. The Portfolio may enter into credit default swap contracts for hedging or speculative purposes to provide or receive a measure of protection against default on a referenced entity, obligation or index or for investment gains. Credit default swaps involve an exchange of a stream of payments for protection against the loss in value of an underlying security or index. Under the terms of the swap, one party acts as a guarantor (referred to as the seller of protection) and receives a periodic stream of payments, provided that there is no credit event, from another party (referred to as the buyer of protection) that is a fixed percentage applied to a notional principal amount over the term of the swap. An index credit default swap references all the names in the index, and if a credit event is triggered, the credit event is settled based on that name’s weight in the index. A credit event includes bankruptcy, failure to pay, obligation default, obligation acceleration, repudiation/moratorium, and restructuring. The Portfolio may enter into credit default swaps as either the seller of protection or the buyer of protection. As the seller of protection, the Portfolio is subject to investment exposure on the notional amount of the swap and has assumed the risk of default of the underlying security or index. As the buyer of protection, the Portfolio could be exposed to risks if the seller of the protection defaults on its obligation to perform, or if there are unfavorable changes in the fluctuation of interest rates. The maximum potential amount of future payments (undiscounted) that the Portfolio as the seller of protection could be required to make under the credit default swap contract would be an amount equal to the notional amount of the swap contract. The Portfolio’s maximum risk of loss from counterparty risk, either as the protection seller or as the protection buyer, is the fair value of the contract. This risk is mitigated by having a master netting arrangement between the Portfolio and the counterparty and by having the counterparty post collateral to cover the Portfolio’s exposure to the counterparty.
If the Portfolio is the seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will pay to the buyer of protection the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index. If the Portfolio is the buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will receive from the seller of protection the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced index.
Any premiums paid or received on the transactions are recorded as an asset or liability on the Statements of Assets and Liabilities and amortized. The value of the swap contract is marked-to-market daily based on quotations from an independent pricing service or market makers and any change in value is recorded as an unrealized gain or loss. Periodic payments made or received are recorded as realized gains or losses. In addition, payments received or made as a result of a credit event or termination of the contract are recognized as realized gains or losses.
Certain credit default swap contracts entered into by the Portfolio provide for conditions that result in events of default or termination that enable the counterparty to the agreement to cause an early termination of the transactions under those agreements. Any election by the counterparty to terminate early may impact the amounts reported on the financial statements.
Mortgage dollar roll transactions
The Portfolios may engage in mortgage dollar roll transactions with respect to mortgage-backed securities issued by Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC). In a mortgage dollar roll transaction, a Portfolio sells a mortgage-backed security to a financial institution, such as a bank or broker-dealer and simultaneously agrees to repurchase a substantially similar security from the institution at a later date at an agreed upon price. The mortgage-backed securities that are repurchased will bear the same interest rate as those sold, but generally will be collateralized by different pools of mortgages with different pre-payment histories. During the roll period, a Portfolio foregoes principal and interest paid on the securities. A Portfolio is compensated by the difference between the current sales price and
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| 156 | | Wells Fargo Advantage Allocation Funds | | Notes to financial statements (unaudited) |
the forward price for the future purchase as well as by the earnings on the cash proceeds of the initial sale. Mortgage dollar rolls may be renewed without physical delivery of the securities subject to the contract. The Portfolios account for TBA dollar roll transactions as purchases and sales.
Security transactions and income recognition
Securities transactions are recorded on a trade date basis. Realized gains or losses are recorded on the basis of identified cost.
Interest income is accrued daily and bond discounts are accreted and premiums are amortized daily based on the effective interest method. To the extent debt obligations are placed on non-accrual status, any related interest income may be reduced by writing off interest receivables when the collection of all or a portion of interest has become doubtful based on consistently applied procedures. If the issuer subsequently resumes interest payments or when the collectability of interest is reasonably assured, the debt obligation is removed from non-accrual status.
Dividend income is recognized on the ex-dividend date, except for certain dividends from foreign securities, which are recorded as soon as the Portfolio is informed of the ex-dividend date. Dividend income from foreign securities is recorded net of foreign taxes withheld where recovery of such taxes is not assured.
Federal and other taxes
Each Portfolio is treated as a separate entity for federal income tax purposes. The Portfolios are not required to pay federal income taxes on their net investment income and net capital gain as they are treated as partnerships for federal income tax purposes. All interest, dividends, gains and losses of a Portfolio are deemed to have been “passed through” to the interestholders in proportion to their holdings of the Portfolio regardless of whether such interest, dividends and gains have been distributed by the Portfolio.
Each Portfolio’s income and federal excise tax returns and all financial records supporting those returns for the prior three fiscal years are subject to examination by the federal and Delaware revenue authorities. Management has analyzed each Portfolio’s tax positions taken on federal, state, and foreign tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability.
3. FAIR VALUATION MEASUREMENTS
Fair value measurements of investments are determined within a framework that has established a fair value hierarchy based upon the various data inputs utilized in determining the value of each Portfolio’s investments. The three-level hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to significant unobservable inputs (Level 3). Each Portfolio’s investments are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement. The inputs are summarized into three broad levels as follows:
| n | | Level 1 – quoted prices in active markets for identical securities |
| n | | Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
| n | | Level 3 – significant unobservable inputs (including each Portfolio’s own assumptions in determining the fair value of investments) |
The inputs or methodologies used for valuing investments in securities are not necessarily an indication of the risk associated with investing in those securities.
| | | | | | |
| Notes to financial statements (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 157 | |
As of November 30, 2012, the inputs used in valuing investments in securities, which were carried at fair value, were as follows:
| | | | | | | | | | | | | | | | |
| Investments in securities | | Quoted prices (Level 1) | | | Significant other observable inputs (Level 2) | | | Significant unobservable inputs (Level 3) | | | Total | |
C&B Large Cap Value Portfolio | | | | | | | | | | | | | | | | |
| | | | |
Equity securities | | | | | | | | | | | | | | | | |
Common stocks | | $ | 305,220,193 | | | $ | 4,607,741 | | | $ | 0 | | | $ | 309,827,934 | |
Preferred stocks | | | 0 | | | | 3,944,178 | | | | 0 | | | | 3,944,178 | |
| | | | |
Other | | | 0 | | | | 0 | | | | 469,258 | | | | 469,258 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 1,807,073 | | | | 54,471,494 | | | | 0 | | | | 56,278,567 | |
Total | | $ | 307,027,266 | | | $ | 63,023,413 | | | $ | 469,258 | | | $ | 370,519,937 | |
Diversified Large Cap Growth Portfolio | | | | | | | | | | | | | | | | |
| | | | |
Equity securities | | | | | | | | | | | | | | | | |
Common stocks | | $ | 147,157,159 | | | $ | 0 | | | $ | 0 | | | $ | 147,157,159 | |
| | | | |
Other | | | 0 | | | | 0 | | | | 466,478 | | | | 466,478 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 1,362,764 | | | | 30,742,017 | | | | 0 | | | | 32,104,781 | |
Total | | $ | 148,519,923 | | | $ | 30,742,017 | | | $ | 466,478 | | | $ | 179,728,418 | |
Emerging Growth Portfolio | | | | | | | | | | | | | | | | |
| | | | |
Equity securities | | | | | | | | | | | | | | | | |
Common stocks | | $ | 908,145,519 | | | $ | 0 | | | $ | 0 | | | $ | 908,145,519 | |
Investment companies | | | 3,272,850 | | | | 0 | | | | 0 | | | | 3,272,850 | |
| | | | |
Other | | | 0 | | | | 0 | | | | 1,438,635 | | | | 1,438,635 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 14,554,639 | | | | 287,604,201 | | | | 0 | | | | 302,158,840 | |
Total | | $ | 925,973,008 | | | $ | 287,604,201 | | | $ | 1,438,635 | | | $ | 1,215,015,844 | |
Equity Value Portfolio | | | | | | | | | | | | | | | | |
| | | | |
Equity securities | | | | | | | | | | | | | | | | |
Common stocks | | $ | 863,581,645 | | | $ | 0 | | | $ | 0 | | | $ | 863,581,645 | |
| | | | |
Other | | | 0 | | | | 0 | | | | 387,752 | | | | 387,752 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 12,139,015 | | | | 54,138,746 | | | | 0 | | | | 66,277,761 | |
Total | | $ | 875,720,660 | | | $ | 54,138,746 | | | $ | 387,752 | | | $ | 930,247,158 | |
Index Portfolio | | | | | | | | | | | | | | | | |
| | | | |
Equity securities | | | | | | | | | | | | | | | | |
Common stocks | | $ | 2,462,065,216 | | | $ | 0 | | | $ | 0 | | | $ | 2,462,065,216 | |
Investment companies | | | 2,403,229 | | | | 0 | | | | 0 | | | | 2,403,229 | |
| | | | |
Other | | | 0 | | | | 0 | | | | 1,368,621 | | | | 1,368,621 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 39,179,893 | | | | 159,290,071 | | | | 0 | | | | 198,469,964 | |
U.S. Treasury securities | | | 3,249,628 | | | | 0 | | | | 0 | | | | 3,249,628 | |
Total | | $ | 2,506,897,966 | | | $ | 159,290,071 | | | $ | 1,368,621 | | | $ | 2,667,556,658 | |
International Equity Portfolio | | | | | | | | | | | | | | | | |
| | | | |
Equity securities | | | | | | | | | | | | | | | | |
Common stocks | | $ | 21,988,461 | | | $ | 0 | | | $ | 0 | | | $ | 21,988,461 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 327,352 | | | | 1,076,691 | | | | 0 | | | | 1,404,043 | |
Total | | $ | 22,315,813 | | | $ | 1,076,691 | | | $ | 0 | | | $ | 23,392,504 | |
| | | | |
| 158 | | Wells Fargo Advantage Allocation Funds | | Notes to financial statements (unaudited) |
| | | | | | | | | | | | | | | | |
| Investments in securities | | Quoted prices (Level 1) | | | Significant other observable inputs (Level 2) | | | Significant unobservable inputs (Level 3) | | | Total | |
International Growth Portfolio | | | | | | | | | | | | | | | | |
| | | | |
Equity securities | | | | | | | | | | | | | | | | |
Common stocks | | $ | 108,384,886 | | | $ | 0 | | | $ | 0 | | | $ | 108,384,886 | |
Preferred stocks | | | 1,863,480 | | | | 0 | | | | 0 | | | | 1,863,480 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 1,084,659 | | | | 6,985,505 | | | | 0 | | | | 8,070,164 | |
Total | | $ | 111,333,025 | | | $ | 6,985,505 | | | $ | 0 | | | $ | 118,318,530 | |
International Index Portfolio | | | | | | | | | | | | | | | | |
| | | | |
Equity securities | | | | | | | | | | | | | | | | |
Common stocks | | $ | 21,966,323 | | | $ | 7,919 | | | $ | 0 | | | $ | 21,974,242 | |
Preferred stocks | | | 138,423 | | | | 489 | | | | 0 | | | | 138,912 | |
Rights | | | 0 | | | | 3,952 | | | | 0 | | | | 3,952 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 0 | | | | 452,217 | | | | 0 | | | | 452,217 | |
Total | | $ | 22,104,746 | | | $ | 464,577 | | | $ | 0 | | | $ | 22,569,323 | |
International Value Portfolio | | | | | | | | | | | | | | | | |
| | | | |
Equity securities | | | | | | | | | | | | | | | | |
Common stocks | | $ | 343,595,905 | | | $ | 3,809,406 | | | $ | 0 | | | $ | 347,405,311 | |
Preferred stocks | | | 3,836,536 | | | | 0 | | | | 0 | | | | 3,836,536 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 1,479,062 | | | | 13,117,922 | | | | 0 | | | | 14,596,984 | |
Total | | $ | 348,911,503 | | | $ | 16,927,328 | | | $ | 0 | | | $ | 365,838,831 | |
Large Company Value Portfolio | | | | | | | | | | | | | | | | |
| | | | |
Equity securities | | | | | | | | | | | | | | | | |
Common stocks | | $ | 46,374,559 | | | $ | 0 | | | $ | 0 | | | $ | 46,374,559 | |
| | | | |
Other | | | 0 | | | | 0 | | | | 30,133 | | | | 30,133 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 2,060,814 | | | | 4,010,623 | | | | 0 | | | | 6,071,437 | |
Total | | $ | 48,435,373 | | | $ | 4,010,623 | | | $ | 30,133 | | | $ | 52,476,129 | |
Small Cap Value Portfolio | | | | | | | | | | | | | | | | |
| | | | |
Equity securities | | | | | | | | | | | | | | | | |
Common stocks | | $ | 15,447,346 | | | $ | 0 | | | $ | 0 | | | $ | 15,447,346 | |
Investment companies | | | 363,486 | | | | 0 | | | | 0 | | | | 363,486 | |
Warrants | | | 0 | | | | 43,273 | | | | 0 | | | | 43,273 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 608,030 | | | | 0 | | | | 0 | | | | 608,030 | |
Total | | $ | 16,418,862 | | | $ | 43,273 | | | $ | 0 | | | $ | 16,462,135 | |
Small Company Growth Portfolio | | | | | | | | | | | | | | | | |
| | | | |
Equity securities | | | | | | | | | | | | | | | | |
Common stocks | | $ | 127,600,070 | | | $ | 0 | | | $ | 0 | | | $ | 127,600,070 | |
| | | | |
Other | | | 0 | | | | 0 | | | | 560,908 | | | | 560,908 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 3,370,315 | | | | 38,146,194 | | | | 0 | | | | 41,516,509 | |
Total | | $ | 130,970,385 | | | $ | 38,146,194 | | | $ | 560,908 | | | $ | 169,677,487 | |
| | | | | | |
| Notes to financial statements (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 159 | |
| | | | | | | | | | | | | | | | |
| Investments in securities | | Quoted prices (Level 1) | | | Significant other observable inputs (Level 2) | | | Significant unobservable inputs (Level 3) | | | Total | |
Small Company Value Portfolio | | | | | | | | | | | | | | | | |
| | | | |
Equity securities | | | | | | | | | | | | | | | | |
Common stocks | | $ | 166,347,066 | | | $ | 0 | | | $ | 0 | | | $ | 166,347,066 | |
| | | | |
Other | | | 0 | | | | 0 | | | | 392,696 | | | | 392,696 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 4,320,665 | | | | 55,859,005 | | | | 0 | | | | 60,179,670 | |
Total | | $ | 170,667,731 | | | $ | 55,859,005 | | | $ | 392,696 | | | $ | 226,919,432 | |
Core Bond Portfolio | | | | | | | | | | | | | | | | |
| | | | |
Agency securities | | $ | 0 | | | $ | 1,310,602,423 | | | $ | 0 | | | $ | 1,310,602,423 | |
| | | | |
Asset-backed securities | | | 0 | | | | 520,059,874 | | | | 0 | | | | 520,059,874 | |
| | | | |
Corporate bonds and notes | | | 0 | | | | 709,996,158 | | | | 0 | | | | 709,996,158 | |
| | | | |
Municipal obligations | | | 0 | | | | 40,639,268 | | | | 0 | | | | 40,639,268 | |
| | | | |
Non-agency mortgage backed securities | | | 0 | | | | 247,838,277 | | | | 0 | | | | 247,838,277 | |
| | | | |
U.S. Treasury securities | | | 800,503,979 | | | | 0 | | | | 0 | | | | 800,503,979 | |
| | | | |
Yankee corporate bonds and notes | | | 0 | | | | 269,923,292 | | | | 0 | | | | 269,923,292 | |
| | | | |
Yankee government bonds | | | 0 | | | | 42,082,254 | | | | 0 | | | | 42,082,254 | |
| | | | |
Other | | | 0 | | | | 0 | | | | 1,134,198 | | | | 1,134,198 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 201,172,161 | | | | 80,871,705 | | | | 0 | | | | 282,043,866 | |
Total | | $ | 1,001,676,140 | | | $ | 3,222,013,251 | | | $ | 1,134,198 | | | $ | 4,224,823,589 | |
Inflation-Protected Bond Portfolio | | | | | | | | | | | | | | | | |
| | | | |
U.S. Treasury securities | | $ | 79,940,330 | | | $ | 0 | | | $ | 0 | | | $ | 79,940,330 | |
| | | | |
Other | | | 0 | | | | 0 | | | | 180,901 | | | | 180,901 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 643,913 | | | | 1,778,061 | | | | 0 | | | | 2,421,974 | |
Total | | $ | 80,584,243 | | | $ | 1,778,061 | | | $ | 180,901 | | | $ | 82,543,205 | |
Managed Fixed Income Portfolio | | | | | | | | | | | | | | | | |
| | | | |
Agency securities | | $ | 0 | | | $ | 40,450,522 | | | $ | 0 | | | $ | 40,450,522 | |
| | | | |
Asset-backed securities | | | 0 | | | | 6,020,430 | | | | 0 | | | | 6,020,430 | |
| | | | |
Corporate bonds and notes | | | 0 | | | | 34,425,948 | | | | 0 | | | | 34,425,948 | |
| | | | |
Municipal obligations | | | 0 | | | | 11,226,754 | | | | 0 | | | | 11,226,754 | |
| | | | |
Non-agency mortgage backed securities | | | 0 | | | | 16,751,100 | | | | 1,475,724 | | | | 18,226,824 | |
| | | | |
Term loans | | | 0 | | | | 352,316 | | | | 0 | | | | 352,316 | |
| | | | |
U.S. Treasury securities | | | 7,091,387 | | | | 0 | | | | 0 | | | | 7,091,387 | |
| | | | |
Yankee corporate bonds and notes | | | 0 | | | | 1,686,122 | | | | 0 | | | | 1,686,122 | |
| | | | |
Other | | | 0 | | | | 0 | | | | 88,076 | | | | 88,076 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 3,955,122 | | | | 574,087 | | | | 0 | | | | 4,529,209 | |
Total | | $ | 11,046,509 | | | $ | 111,487,279 | | | $ | 1,563,800 | | | $ | 124,097,588 | |
| | | | |
| 160 | | Wells Fargo Advantage Allocation Funds | | Notes to financial statements (unaudited) |
| | | | | | | | | | | | | | | | |
| Investments in securities | | Quoted prices (Level 1) | | | Significant other observable inputs (Level 2) | | | Significant unobservable inputs (Level 3) | | | Total | |
Stable Income Portfolio | | | | | | | | | | | | | | | | |
| | | | |
Agency securities | | $ | 0 | | | $ | 12,580,296 | | | $ | 0 | | | $ | 12,580,296 | |
| | | | |
Asset-backed securities | | | 0 | | | | 5,250,639 | | | | 0 | | | | 5,250,639 | |
| | | | |
Corporate bonds and notes | | | 0 | | | | 7,932,987 | | | | 0 | | | | 7,932,987 | |
| | | | |
Loan participation | | | 0 | | | | 0 | | | | 387,080 | | | | 387,080 | |
| | | | |
Municipal obligations | | | 0 | | | | 1,226,227 | | | | 0 | | | | 1,226,227 | |
| | | | |
Non-agency mortgage backed securities | | | 0 | | | | 2,860,786 | | | | 675,620 | | | | 3,536,406 | |
| | | | |
Yankee corporate bonds and notes | | | 0 | | | | 866,364 | | | | 0 | | | | 866,364 | |
| | | | |
Other | | | 0 | | | | 0 | | | | 39,356 | | | | 39,356 | |
| | | | |
Short-term investments | | | | | | | | | | | | | | | | |
Investment companies | | | 2,857,608 | | | | 91,700 | | | | 0 | | | | 2,949,308 | |
Total | | $ | 2,857,608 | | | $ | 30,808,999 | | | $ | 1,102,056 | | | $ | 34,768,663 | |
Further details on the major security types listed above can be found in each Portfolio of Investments or Summary Portfolio of Investments.
As of November 30, 2012, the inputs used in valuing each Portfolio’s other financial instruments, which are carried at fair value, were as follows:
| | | | | | | | | | | | | | | | |
| Other financial instruments | | Quoted prices (Level 1) | | | Significant other observable inputs (Level 2) | | | Significant unobservable inputs (Level 3) | | | Total | |
Futures contracts+ | | | | | | | | | | | | | | | | |
Index Portfolio | | $ | (205,915 | ) | | $ | 0 | | | $ | 0 | | | $ | (205,915 | ) |
International Index Portfolio | | | (725 | ) | | | 0 | | | | 0 | | | | (725 | ) |
Stable Income Portfolio | | | (4,278 | ) | | | 0 | | | | 0 | | | | (4,278 | ) |
Credit default swaps* | | | | | | | | | | | | | | | | |
Core Bond Portfolio | | | 0 | | | | 46,587 | | | | 0 | | | | 46,587 | |
| + | Futures contracts are presented at the unrealized gains or losses on the instruments. |
| * | The value of swap contracts consists of unrealized gains or losses and premiums paid/received on swap contracts as reflected on the Statements of Assets and Liabilities. |
Transfers in and transfers out are recognized at the end of the reporting period. For the six months ended November 30, 2012, the Portfolios did not have any transfers into/out of Level 1 or Level 2.
The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value for Managed Fixed Income Portfolio:
| | | | | | | | | | | | |
| | | Managed Fixed Income Portfolio | |
| | | Non-agency
mortgage
backed
securities | | | Other | | | Total | |
Balance as of May 31, 2012 | | $ | 1,350,195 | | | $ | 375,000 | | | $ | 1,725,195 | |
Accrued discounts (premiums) | | | 0 | | | | 0 | | | | 0 | |
Realized gains (losses) | | | 0 | | | | 238,580 | | | | 238,580 | |
Change in unrealized gains (losses) | | | 196,429 | | | | (205,973 | ) | | | (9,544 | ) |
Purchases | | | 0 | | | | 0 | | | | 0 | |
Sales | | | (70,900 | ) | | | (319,531 | ) | | | (390,431 | ) |
Transfers into Level 3 | | | 0 | | | | 0 | | | | 0 | |
Transfers out of Level 3 | | | 0 | | | | 0 | | | | 0 | |
Balance as of November 30, 2012 | | $ | 1,475,724 | | | $ | 88,076 | | | $ | 1,563,800 | |
Change in unrealized gains (losses) relating to securities still held at November 30, 2012 | | $ | 160,830 | | | $ | 16,013 | | | $ | 176,843 | |
| | | | | | |
| Notes to financial statements (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 161 | |
The following table summarizes quantitative information about the Managed Fixed Income Portfolio’s Level 3 inputs as of November 30, 2012:
| | | | | | | | | | | | | | |
| Security types | | Fair value at
November 30,
2012 | | | Valuation
technique(s) | | Significant
unobservable
input(s) | | Weighted average | | Range | | Impact to
valuation
from an increase in
input* |
Non-agency mortgage backed securities | | $ | 1,475,724 | | | Adjusted broker quote | | Single broker quote | | N/A | | N/A | | Increase |
| | | | | | | | | Option adjusted spread (OAS) | | 831 basis points | | 831 basis points | | Decrease |
Other | | $ | 88,076 | | | Liquidity discount | | Discounts for the specific qualities of a security | | 12% | | 10% to 50% | | Decrease |
| * | Unless otherwise noted, this column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements. |
The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value for Stable Income Portfolio:
| | | | | | | | | | | | | | | | |
| | | Stable Income Portfolio | |
| | | Loan
participation | | | Non-agency
mortgage
backed
securities | | | Other | | | Total | |
Balance as of May 31, 2012 | | $ | 423,589 | | | $ | 629,312 | | | $ | 167,564 | | | $ | 1,220,465 | |
Accrued discounts (premiums) | | | 49 | | | | 0 | | | | 0 | | | | 49 | |
Realized gains (losses) | | | (13 | ) | | | 0 | | | | 106,606 | | | | 106,593 | |
Change in unrealized gains (losses) | | | 6,151 | | | | 101,326 | | | | (92,036 | ) | | | 15,441 | |
Purchases | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Sales | | | (42,696 | ) | | | (55,018 | ) | | | (142,778 | ) | | | (240,492 | ) |
Transfers into Level 3 | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Transfers out of Level 3 | | | 0 | | | | 0 | | | | 0 | | | | 0 | |
Balance as of November 30, 2012 | | $ | 387,080 | | | $ | 675,620 | | | $ | 39,356 | | | $ | 1,102,056 | |
Change in unrealized gains (losses) relating to securities still held at November 30, 2012 | | $ | 7,156 | | | $ | 5,580 | | | $ | 19,639 | | | $ | 32,375 | |
The following table summarizes quantitative information about the Stable Income Portfolio’s Level 3 inputs as of November 30, 2012:
| | | | | | | | | | | | | | |
| Security types | | Fair value at
November 30,
2012 | | | Valuation
technique(s) | | Significant
unobservable
input(s) | | Weighted average | | Range | | Impact to
valuation
from
an increase in
input* |
Loan participation | | $ | 387,080 | | | Adjusted broker quote | | Single broker quote | | N/A | | N/A | | Increase |
| | | | | | | | | Option adjusted spread (OAS) | | 175 basis points | | 20 to 538 basis points | | Decrease |
Non-agency mortgage backed securities | | $ | 675,620 | | | Adjusted broker quote | | Single broker quote | | N/A | | N/A | | Increase |
| | | | | | | | | Option adjusted spread (OAS) | | 832 basis points | | 831 to 833 basis points | | Decrease |
Other | | $ | 39,356 | | | Liquidity discount | | Discounts for the specific qualities of a security | | 12% | | 10% to 50% | | Decrease |
| * | Unless otherwise noted, this column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements. |
| | | | |
| 162 | | Wells Fargo Advantage Allocation Funds | | Notes to financial statements (unaudited) |
4. TRANSACTIONS WITH AFFILIATES AND OTHER EXPENSES
Advisory fees
The Trust has entered into an advisory contract with Funds Management, an indirect wholly owned subsidiary of Wells Fargo & Company (“Wells Fargo”). The adviser is responsible for implementing investment policies and guidelines and for supervising the subadvisers, who are responsible for day-to-day portfolio management of the Portfolios.
Funds Management has retained the services of certain subadvisers to provide daily portfolio management to the Portfolios. Funds Management has engaged WellsCap (an affiliate of Funds Management), Peregrine Capital Management, Inc. (an affiliate of Funds Management), Artisan Partners Limited Partnership, Cooke & Bieler, L.P., Galliard Capital Management, Inc. (an affiliate of Funds Management), LSV Asset Management, SSgA Funds Management, Inc., Systematic Financial Management, L.P., Golden Capital Management, LLC (an affiliate of Funds Management) and Phocas Financial Corporation as subadvisers.
Pursuant to the contract, Funds Management is entitled to receive an annual advisory fee which is calculated based on the average daily net assets of each Portfolio. The fees for subadvisory services are borne by Funds Management. The subadvisers are each entitled to receive from Funds Management an annual subadvisory fee which is calculated based on the average daily net assets of each Portfolio.
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Advisory fee | | Effective rate for
the six
months ended November 30, 2012 | | | Subadviser | | Subadvisory Fee | |
| | | starting at | | | declining to | | | | starting at | | | declining to | |
C&B Large Cap Value Portfolio | | | 0.65 | % | | | 0.55 | % | | | | | 0.65 | % | | Cooke & Bieler, L.P. | | | 0.45 | % | | | 0.30 | % |
Diversified Large Cap Growth Portfolio | | | 0.65 | | | | 0.55 | | | | | | 0.65 | | | WellsCap | | | 0.35 | | | | 0.15 | |
Emerging Growth Portfolio | | | 0.80 | | | | 0.70 | | | | | | 0.79 | | | WellsCap | | | 0.55 | | | | 0.40 | |
Equity Value Portfolio | | | 0.65 | | | | 0.55 | | | | | | 0.64 | | | Systematic Financial Management, L.P. | | | 0.30 | | | | 0.10 | |
Index Portfolio | | | 0.10 | | | | 0.05 | | | | | | 0.09 | | | Golden Capital Management, LLC | | | 0.05 | | | | 0.02 | |
International Equity Portfolio | | | 0.85 | | | | 0.70 | | | | | | 0.85 | | | WellsCap | | | 0.45 | | | | 0.40 | |
International Growth Portfolio | | | 0.85 | | | | 0.70 | | | | | | 0.85 | | | Artisan Partners Limited Partnership | | | 0.80 | | | | 0.50 | |
International Index Portfolio | | | 0.35 | | | | 0.30 | | | | | | 0.35 | | | SSgA Funds Management | | | 0.08 | | | | 0.06 | |
International Value Portfolio | | | 0.85 | | | | 0.70 | | | | | | 0.85 | | | LSV Asset Management | | | 0.35 | | | | 0.30 | |
Large Company Value Portfolio | | | 0.65 | | | | 0.55 | | | | | | 0.65 | | | Phocas Financial Corporation | | | 0.29 | | | | 0.20 | |
Small Cap Value Portfolio | | | 0.80 | | | | 0.70 | | | | | | 0.80 | | | WellsCap | | | 0.55 | | | | 0.40 | |
Small Company Growth Portfolio | | | 0.80 | | | | 0.70 | | | | | | 0.80 | | | Peregrine Capital Management, Inc. | | | 0.90 | | | | 0.55 | |
Small Company Value Portfolio | | | 0.80 | | | | 0.70 | % | | | | | 0.80 | | | Peregrine Capital Management, Inc. | | | * | | | | * | |
Core Bond Portfolio | | | 0.40 | | | | 0.30 | | | | | | 0.35 | | | WellsCap | | | 0.20 | | | | 0.10 | |
Inflation-Protected Bond Portfolio | | | 0.40 | | | | 0.30 | | | | | | 0.40 | | | WellsCap | | | 0.20 | | | | 0.10 | |
Managed Fixed Income Portfolio | | | 0.40 | | | | 0.30 | | | | | | 0.40 | | | Galliard Capital Management, Inc. | | | 0.20 | | | | 0.10 | |
Stable Income Portfolio | | | 0.35 | ** | | | 0.25 | ** | | | | | 0.38 | | | Galliard Capital Management, Inc. | | | 0.15 | | | | 0.05 | |
| * | For Small Company Value Portfolio, the subadvisory fee starts at 0.50% and increases to 0.75% as its average net assets increase. |
| ** | Prior to October 1, 2012, Stable Income Portfolio paid Funds Management an advisory fee which started at 0.40% and declined to 0.30% as average daily net assets increased. |
Funds Management has voluntarily waived and/or reimbursed advisory fees to the extent necessary to maintain certain net operating expense ratios for the Portfolios.
| | | | | | |
| Notes to financial statements (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 163 | |
5. INVESTMENT PORTFOLIO TRANSACTIONS
Purchases and sales of investments, excluding short-term securities, for the six months ended November 30, 2012 were as follows:
| | | | | | | | | | | | | | | | |
| | | Purchases at Cost | | | Sales proceeds | |
| | | U.S. Government | | | Non-U.S. Government | | | U.S. Government | | | Non-U.S. Government | |
C&B Large Cap Value Portfolio | | $ | 0 | | | $ | 18,698,560 | | | $ | 0 | | | $ | 42,273,724 | |
Diversified Large Cap Growth Portfolio | | | 0 | | | | 42,349,741 | | | | 0 | | | | 52,786,863 | |
Emerging Growth Portfolio | | | 0 | | | | 316,181,528 | | | | 0 | | | | 394,757,830 | |
Equity Value Portfolio | | | 0 | | | | 404,791,661 | | | | 0 | | | | 620,737,271 | |
Index Portfolio | | | 0 | | | | 58,926,423 | | | | 0 | | | | 111,509,451 | |
International Equity Portfolio | | | 0 | | | | 5,139,346 | | | | 0 | | | | 6,737,313 | |
International Growth Portfolio | | | 0 | | | | 22,489,806 | | | | 0 | | | | 32,106,881 | |
International Index Portfolio | | | 0 | | | | 347,750 | | | | 0 | | | | 4,319,702 | |
International Value Portfolio | | | 0 | | | | 56,665,560 | | | | 0 | | | | 28,672,875 | |
Large Company Value Portfolio | | | 0 | | | | 15,805,760 | | | | 0 | | | | 23,403,212 | |
Small Cap Value Portfolio | | | 0 | | | | 7,639,744 | | | | 0 | | | | 42,453,635 | |
Small Company Growth Portfolio | | | 0 | | | | 71,583,294 | | | | 0 | | | | 113,667,326 | |
Small Company Value Portfolio | | | 0 | | | | 63,865,400 | | | | 0 | | | | 102,780,561 | |
Core Bond Portfolio | | | 8,799,558,293 | | | | 2,102,279,294 | | | | 9,103,894,325 | | | | 1,844,969,083 | |
Inflation-Protected Bond Portfolio | | | 7,008,666 | | | | 0 | | | | 11,030,377 | | | | 0 | |
Managed Fixed Income Portfolio | | | 27,645,136 | | | | 4,110,948 | | | | 31,055,695 | | | | 18,265,365 | |
Stable Income Portfolio | | | 0 | | | | 4,066,720 | | | | 476,521 | | | | 4,446,977 | |
6. DERIVATIVE TRANSACTIONS
During the six months ended November 30, 2012, Index Portfolio and International Index Portfolio used uninvested cash to enter into futures contracts to gain market exposure. During the six months ended November 30, 2012, Stable Income Portfolio entered into futures contracts to speculate on interest rates and to help shorten or lengthen the duration of the portfolio.
At November 30, 2012, the Portfolios had long and short futures contracts outstanding as follows:
| | | | | | | | | | | | | | | | |
| | | Expiration date | | Contracts | | Type | | Contract value at
November 30, 2012 | | | Unrealized losses | |
Index Portfolio | | 12-20-12 | | 133 Long | | S&P 500 Index | | | | $ | 47,028,800 | | | $ | (205,915 | ) |
International Index Portfolio | | 12-21-12 | | 5 Long | | MSCI EAFE E-Mini Index | | | | | 389,825 | | | | (725 | ) |
Stable Income Portfolio | | 3-28-13 | | 20 Short | | 5-Year U.S. Treasury Notes | | | | | 2,494,375 | | | | (4,728 | ) |
The receivable and payable for daily variation margin on open futures contracts reflected in the Statements of Assets and Liabilities only represents the current day’s variation margin.
As of November 30, 2012, International Index Portfolio and Stable Income Portfolio had segregated $56,719 and $11,000, respectively, as cash collateral for open futures contracts.
| | | | |
| 164 | | Wells Fargo Advantage Allocation Funds | | Notes to financial statements (unaudited) |
The Portfolios had average notional amounts in futures contracts outstanding during the year ended November 30, 2012 as follows:
| | | | |
| | | Long contracts | | Short contracts |
Index Portfolio | | $37,388,819 | | $0 |
International Index Portfolio | | 478,653 | | 0 |
Stable Income Portfolio | | 0 | | 2,496,761 |
Core Bond Portfolio entered into credit default swap contracts as a substitute for taking a position in the underlying security or basket of securities or to potentially enhance the Portfolio’s total return.
At November 30, 2012, Core Bond Portfolio had the following credit default swap contracts outstanding:
Credit default swaps on debt obligations – Buy protection
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Expiration date | | Counterparty | | Reference debt obligation | | Rating of
reference
debt
obligation* | | | Notional
amount | | | Fixed
payments
made | | | Value | | | Upfront
premiums
paid/
(received) | | | Unrealized
losses | |
| 12-20-16 | | Citibank | | Prudential Financial Incorporated, 4.50%,
7-15-13 | | | A | | | $ | 5,000,000 | | | | 1.00 | % | | $ | 74,385 | | | $ | 286,257 | | | $ | (211,872 | ) |
| 6-20-17 | | Citibank | | Mondelez International Incorporated, 6.50%,
8-11-17 | | | BBB- | | | | 5,000,000 | | | | 1.00 | | | | (158,755 | ) | | | (114,158 | ) | | | (44,597 | ) |
Credit default swaps on debt obligations – Sell protection
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Expiration date | | Counterparty | | Reference debt obligation | | Rating of
reference
debt
obligation* | | | Notional
amount | | | Fixed
payments
received | | | Value | | | Upfront
premiums
paid | | | Unrealized
gains | |
| 3-20-17 | | Citibank | | Coca-Cola Company,
5.35%, 11-15-17 | | | AA- | | | $ | 10,000,000 | | | | 1.00 | % | | $ | 293,701 | | | $ | 207,876 | | | $ | 85,825 | |
| * | Reflects the ratings of a nationally recognized ratings agency at period end. The credit rating serves as an indicator of the current status of the payment/performance risk of the credit derivative. A rating of D would most likely indicate a trigger event of default has occurred although circumstances including bankruptcy, failure to pay, obligation default, obligation acceleration, repudiation/moratorium and restructuring may also cause a credit event to take place. |
Credit default swaps on an index – Buy protection
| | | | | | | | | | | | | | | | | | | | | | | | |
| Expiration date | | Counterparty | | Reference index | | Notional
amount | | | Fixed
payments
made | | | Value | | | Upfront
premiums
paid | | | Unrealized
losses | |
| 12-20-16 | | Barclays | | Markit CDX North America Investment Grade 17 Index | | $ | 5,000,000 | | | | 1.00 | % | | $ | (54,248 | ) | | $ | 78,997 | | | $ | (133,245 | ) |
| 12-20-16 | | Barclays | | Markit CDX North America Investment Grade 17 Index | | | 5,000,000 | | | | 1.00 | | | | (54,248 | ) | | | 39,548 | | | | (93,796 | ) |
| 12-20-16 | | Citibank | | Markit CDX North America Investment Grade 17 Index | | | 5,000,000 | | | | 1.00 | | | | (54,248 | ) | | | 75,324 | | | | (129,572 | ) |
Core Bond Portfolio had an average notional balance on credit default swaps of $38,770,492 during the six months ended November 30, 2012.
Core Bond Portfolio's credit default swap contracts may contain provisions for early termination in the event the net assets of the Portfolio declines below specific levels identified by the counterparty. If these levels are triggered, the counterparty may terminate the transaction and seek payment or request full collateralization of the credit default swap transactions in net liability positions. On November 30, 2012, the aggregate fair value of credit default swap contracts with net asset contingent features that were in a liability positions amounted to $613,082 for Core Bond Portfolio.
The fair value, realized gains or losses and change in unrealized gains or losses on derivative instruments are reflected in the appropriate financial statements.
| | | | | | |
| Notes to financial statements (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 165 | |
7. INDEMNIFICATION
Under the Trust’s organizational documents, the officers and directors are indemnified against certain liabilities that may arise out of performance of their duties to the Trust. Additionally, in the normal course of business, the Trust may enter into contracts with service providers that contain a variety of indemnification clauses. The Trust’s maximum exposure under these arrangements is dependent on future claims that may be made against the Portfolios and, therefore, cannot be estimated.
8. NEW ACCOUNTING PRONOUNCEMENT
In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2011-11, Disclosures about Offsetting Assets and Liabilities. ASU 2011-11, which amends FASB ASC Topic 210, Balance Sheet, creates new disclosure requirements which require entities to disclose both gross and net information for derivatives and other financial instruments that are either offset in the Statement of Assets and Liabilities or subject to an enforceable master netting arrangement or similar agreement. The disclosure requirements are effective for interim and annual reporting periods beginning on or after January 1, 2013. Management is currently assessing the potential impact, in addition to expanded financial statement disclosure, that may result from adopting this ASU.
| | | | |
| 166 | | Wells Fargo Advantage Allocation Funds | | Other information (unaudited) |
PROXY VOTING INFORMATION
A description of the policies and procedures used to determine how to vote proxies relating to portfolio securities is available without charge, upon request, by calling 1-800-222-8222, visiting our website at wellsfargoadvantagefunds.com, or visiting the SEC website at sec.gov. Information regarding how the proxies related to portfolio securities were voted during the most recent 12-month period ended June 30 is available without charge on the website at wellsfargoadvantagefunds.com or by visiting the SEC website at sec.gov.
PORTFOLIO HOLDINGS INFORMATION
The complete portfolio holdings for the Funds are publicly available on the website (wellsfargoadvantagefunds.com) on a monthly, 30-day or more delayed basis. In addition, top ten holdings information is publicly available on the website on a monthly, seven-day or more delayed basis. Each Fund and Portfolio files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q, which is available without charge by visiting the SEC website at sec.gov. In addition, each Fund’s and Portfolio’s Form N-Q may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC, and at regional offices in New York City, at 233 Broadway, and in Chicago, at 175 West Jackson Boulevard, Suite 900. Information about the Public Reference Room may be obtained by calling 1-800-SEC-0330.
| | | | | | |
| Other information (unaudited) | | Wells Fargo Advantage Allocation Funds | | | 167 | |
BOARD OF TRUSTEES AND OFFICERS
Each of the Trustees and Officers listed in the table below acts in identical capacities for the Wells Fargo Advantage family of funds, which consists of 138 funds1 comprising the Wells Fargo Funds Trust, Wells Fargo Variable Trust, Wells Fargo Master Trust and four closed-end funds (collectively the “Fund Complex”). This table should be read in conjunction with the Prospectus and the Statement of Additional Information2. All of the Trustees are also Members of the Audit and Governance Committees of each Trust in the Fund Complex. The mailing address of each Trustee and Officer is 525 Market Street, 12th Floor, San Francisco, CA 94105. Each Trustee and Officer serves an indefinite term, however, each Trustee serves such term until reaching the mandatory retirement age established by the Trustees.
Independent Trustees
| | | | | | |
Name and year of birth | | Position held and length of service* | | Principal occupations during past five years | | Other directorships during
past five years |
Peter G. Gordon
(Born 1942) | | Trustee, since 1998; Chairman, since 2005 | | Co-Founder, Retired Chairman, President and CEO of Crystal Geyser Water Company. Trustee Emeritus, Colby College | | Asset Allocation Trust |
Isaiah Harris, Jr.
(Born 1952) | | Trustee, since 2009 | | Retired. Prior thereto, President and CEO of BellSouth Advertising and Publishing Corp. from 2005 to 2007. Emeritus member of the Iowa State University Foundation Board of Governors. Emeritus Member of the Advisory Board of Iowa State University School of Business. Mr. Harris is a certified public accountant. | | CIGNA Corporation; Deluxe Corporation; Asset Allocation Trust |
Judith M. Johnson
(Born 1949) | | Trustee, since 2008; Audit Committee Chairman, since 2008 | | Retired. Prior thereto, Chief Executive Officer and Chief Investment Officer of Minneapolis Employees Retirement Fund from 1996 to 2008. Ms. Johnson is an attorney, certified public accountant and a certified managerial accountant. | | Asset Allocation Trust |
Leroy Keith, Jr.
(Born 1939) | | Trustee, since 2010 | | Chairman, Bloc Global Services (development and construction). Trustee of the Evergreen Funds from 1983 to 2010. Former Managing Director, Almanac Capital Management (commodities firm), former Partner, Stonington Partners, Inc. (private equity fund), former Director, Obagi Medical Products Co. and former Director, Lincoln Educational Services. | | Trustee, Virtus Fund Complex (consisting of 40 portfolios as of 12/31/11); Asset Allocation Trust |
David F. Larcker
(Born 1950) | | Trustee, since 2009 | | James Irvin Miller Professor of Accounting at the Graduate School of Business, Stanford University, Director of Corporate Governance Research Program and Senior Faculty of The Rock Center for Corporate Governance since 2006. From 2005 to 2008, Professor of Accounting at the Graduate School of Business, Stanford University. | | Asset Allocation Trust |
Olivia S. Mitchell
(Born 1953) | | Trustee, since 2006 | | International Foundation of Employee Benefit Plans Professor, Wharton School of the University of Pennsylvania since 1993. Director of Wharton’s Pension Research Council and Boettner Center on Pensions & Retirement Research, and Research Associate at the National Bureau of Economic Research. | | Asset Allocation Trust |
Timothy J. Penny
(Born 1951) | | Trustee, since 1996 | | President and CEO of Southern Minnesota Initiative Foundation, a non-profit organization, since 2007 and Senior Fellow at the Humphrey Institute Policy Forum at the University of Minnesota since 1995. Member of the Board of Trustees of NorthStar Education Finance, Inc., a non-profit organization, since 2007. | | Asset Allocation Trust |
| | | | |
| 168 | | Wells Fargo Advantage Allocation Funds | | Other information (unaudited) |
| | | | | | |
Name and year of birth | | Position held and length of service* | | Principal occupations during past five years | | Other directorships during
past five years |
Michael S. Scofield
(Born 1943) | | Trustee, since 2010 | | Served on the Investment Company Institute’s Board of Governors and Executive Committee from 2008-2011 as well the Governing Council of the Independent Directors Council from 2006-2011 and the Independent Directors Council Executive Committee from 2008-2011. Chairman of the IDC from 2008-2010. Institutional Investor (Fund Directions) Trustee of Year in 2007. Trustee of the Evergreen Funds (and its predecessors) from 1984 to 2010. Chairman of the Evergreen Funds from 2000-2010. Former Trustee of the Mentor Funds. Retired Attorney, Law Offices of Michael S. Scofield. | | Asset Allocation Trust |
Donald C. Willeke
(Born 1940) | | Trustee, since 1996 | | Principal of the law firm of Willeke & Daniels. General Counsel of the Minneapolis Employees Retirement Fund from 1984 until its consolidation into the Minnesota Public Employees Retirement Association on June 30, 2010. Director, General Counsel, and Vice Chair of The Tree Trust (non-profit corporation). Director and General Counsel of The American Chestnut Foundation (non-profit corporation). | | Asset Allocation Trust |
| * | Length of service dates reflect the Trustee’s commencement of service with the Trust’s predecessor entities, where applicable. |
Officers
| | | | | | |
Name and year of birth | | Position held and
length of service | | Principal occupations during past five years | | |
Karla M. Rabusch
(Born 1959) | | President, since 2003 | | Executive Vice President of Wells Fargo Bank, N.A. and President of Wells Fargo Funds Management, LLC since 2003. | | |
Jeremy DePalma1
(Born 1974) | | Treasurer, since 2012; Assistant Treasurer, since 2009 | | Senior Vice President of Wells Fargo Funds Management, LLC since 2009. Senior Vice President of Evergreen Investment Management Company, LLC from 2008 to 2010. Vice President, Evergreen Investment Services, Inc. from 2004 to 2007. Head of the Fund Reporting and Control Team within Fund Administration from 2005 to 2010. | | |
Nancy Wiser1
(Born 1967) | | Treasurer, since 2012 | | Executive Vice President of Wells Fargo Funds Management, LLC since 2011. Chief Operating Officer and Chief Compliance Officer at LightBox Capital Management LLC, from 2008 to 2011. Owned and operated a consulting business providing services to various hedge funds including acting as Chief Operating Officer and Chief Compliance Officer for a hedge fund from 2007 to 2008. Chief Operating Officer and Chief Compliance Officer of GMN Capital LLC from 2006 to 2007. | | |
C. David Messman
(Born 1960) | | Secretary, since 2000; Chief Legal Officer, since 2003 | | Senior Vice President and Secretary of Wells Fargo Funds Management, LLC since 2001. Vice President and Managing Counsel of Wells Fargo Bank, N.A. since 1996. | | |
Debra Ann Early
(Born 1964) | | Chief Compliance Officer, since 2007 | | Chief Compliance Officer of Wells Fargo Funds Management, LLC since 2007. Chief Compliance Officer of Parnassus Investments from 2005 to 2007. Chief Financial Officer of Parnassus Investments from 2004 to 2007. | | |
David Berardi
(Born 1975) | | Assistant Treasurer, since 2009 | | Vice President of Wells Fargo Funds Management, LLC since 2009. Vice President of Evergreen Investment Management Company, LLC from 2008 to 2010. Assistant Vice President of Evergreen Investment Services, Inc. from 2004 to 2008. Manager of Fund Reporting and Control for Evergreen Investment Management Company, LLC from 2004 to 2010. | | |
| 1. | Jeremy DePalma acts as Treasurer of Conservative Allocation Fund, Growth Balanced Fund, Moderate Balanced Fund, International Equity Portfolio, International Growth Portfolio, International Index Portfolio and International Value Portfolio and Assistant Treasurer of the remaining funds in this shareholder report. In addition, Jeremy DePalma acts as Treasurer of 54 other funds and Assistant Treasurer of 64 other funds in the Fund Complex. Nancy Wiser serves as Treasurer of the remaining funds in this shareholder report as well as 64 other funds in the Fund Complex. |
| 2. | The Statement of Additional Information includes additional information about the Trustees and is available, without charge, upon request, by calling
1-800-222-8222 or by visiting the website at wellsfargoadvantagefunds.com. |
| | | | | | |
| List of abbreviations | | Wells Fargo Advantage Allocation Funds | | | 169 | |
The following is a list of common abbreviations for terms and entities that may have appeared in this report.
| ACB | — Agricultural Credit Bank |
| ADR | — American depositary receipt |
| ADS | — American depositary shares |
| AGC-ICC | — Assured Guaranty Corporation - Insured Custody Certificates |
| AGM | — Assured Guaranty Municipal |
| AMBAC | — American Municipal Bond Assurance Corporation |
| AMT | — Alternative minimum tax |
| BAN | — Bond anticipation notes |
| BHAC | — Berkshire Hathaway Assurance Corporation |
| CAB | — Capital appreciation bond |
| CCAB | — Convertible capital appreciation bond |
| CDA | — Community Development Authority |
| CDO | — Collateralized debt obligation |
| COP | — Certificate of participation |
| DRIVER | — Derivative inverse tax-exempt receipts |
| DW&P | — Department of Water & Power |
| DWR | — Department of Water Resources |
| ECFA | — Educational & Cultural Facilities Authority |
| EDA | — Economic Development Authority |
| EDFA | — Economic Development Finance Authority |
| ETF | — Exchange-traded fund |
| FDIC | — Federal Deposit Insurance Corporation |
| FFCB | — Federal Farm Credit Banks |
| FGIC | — Financial Guaranty Insurance Corporation |
| FGLMC | — Federal Government Loan Mortgage Corporation |
| FHA | — Federal Housing Administration |
| FHLB | — Federal Home Loan Bank |
| FHLMC | — Federal Home Loan Mortgage Corporation |
| FICO | — The Financing Corporation |
| FNMA | — Federal National Mortgage Association |
| GDR | — Global depositary receipt |
| GNMA | — Government National Mortgage Association |
| HCFR | — Healthcare facilities revenue |
| HEFA | — Health & Educational Facilities Authority |
| HEFAR | — Higher education facilities authority revenue |
| HFA | — Housing Finance Authority |
| HFFA | — Health Facilities Financing Authority |
| IBC | — Insured bond certificate |
| IDA | — Industrial Development Authority |
| IDAG | — Industrial Development Agency |
| IDR | — Industrial development revenue |
| KRW | — Republic of Korea won |
| LIBOR | — London Interbank Offered Rate |
| LLC | — Limited liability company |
| LLP | — Limited liability partnership |
| MBIA | — Municipal Bond Insurance Association |
| MFHR | — Multifamily housing revenue |
| MSTR | — Municipal securities trust receipts |
| MUD | — Municipal Utility District |
| NATL-RE | — National Public Finance Guarantee Corporation |
| PCFA | — Pollution Control Financing Authority |
| PCL | — Public Company Limited |
| PCR | — Pollution control revenue |
| PFA | — Public Finance Authority |
| PFFA | — Public Facilities Financing Authority |
| PFOTER | — Puttable floating option tax-exempt receipts |
| plc | — Public limited company |
| PUTTER | — Puttable tax-exempt receipts |
| R&D | — Research & development |
| RDA | — Redevelopment Authority |
| RDFA | — Redevelopment Finance Authority |
| REIT | — Real estate investment trust |
| ROC | — Reset option certificates |
| SAVRS | — Select auction variable rate securities |
| SBA | — Small Business Authority |
| SFHR | — Single-family housing revenue |
| SFMR | — Single-family mortgage revenue |
| SPA | — Standby purchase agreement |
| SPDR | — Standard & Poor’s Depositary Receipts |
| STRIPS | — Separate trading of registered interest and principal securities |
| TAN | — Tax anticipation notes |
| TIPS | — Treasury inflation-protected securities |
| TRAN | — Tax revenue anticipation notes |
| TCR | — Transferable custody receipts |
| TTFA | — Transportation Trust Fund Authority |
| TVA | — Tennessee Valley Authority |
| XLCA | — XL Capital Assurance |
This page is intentionally left blank.
For more information
More information about Wells Fargo Advantage Funds is available free upon request. To obtain literature, please write, email, visit the Fund’s website, or call:
Wells Fargo Advantage Funds
P.O. Box 8266
Boston, MA 02266-8266
Email: wfaf@wellsfargo.com
Website: wellsfargoadvantagefunds.com
Individual investors: 1-800-222-8222
Retail investment professionals: 1-888-877-9275
Institutional investment professionals: 1-866-765-0778
This report and the financial statements contained herein are submitted for the general information of the shareholders of Wells Fargo Advantage Funds. If this report is used for promotional purposes, distribution of the report must be accompanied or preceded by a current prospectus. For a current prospectus and, if available, a summary prospectus containing more complete information, including charges and expenses, call 1-800-222-8222 or visit the Fund’s website at wellsfargoadvantagefunds.com. Please consider the investment objectives, risks, charges, and expenses of the investment carefully before investing. This and other information about Wells Fargo Advantage Funds can be found in the current prospectus. Read the prospectus carefully before you invest or send money.
Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, provides investment advisory and administrative services for Wells Fargo Advantage Funds. Other affiliates of Wells Fargo & Company provide subadvisory and other services for the Funds. The Funds are distributed by Wells Fargo Funds Distributor, LLC, Member FINRA/SIPC, an affiliate of Wells Fargo & Company.
NOT FDIC INSURED ¡ NO BANK GUARANTEE ¡ MAY LOSE VALUE
© 2013 Wells Fargo Funds Management, LLC. All rights reserved.
| | |
 | | 213709 01-13 SAAFNLD/SAR109 11-12 |
ITEM 2. CODE OF ETHICS
Not required in this filing
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT
Not required in this filing.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES
Not required in this filing.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS
Not required in this filing.
ITEM 6. PORTFOLIO OF INVESTMENTS
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Index Portfolio | | | 1 | |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Common Stocks: 98.03% | | | | | | | | | | | | |
| | | | |
Consumer Discretionary: 11.31% | | | | | | | | | | | | |
| | | | |
| Auto Components: 0.23% | | | | | | | | | | | | |
BorgWarner Incorporated Ǡ | | | | | | | 22,221 | | | $ | 1,473,252 | |
Johnson Controls Incorporated | | | | | | | 132,792 | | | | 3,657,092 | |
The Goodyear Tire & Rubber Company † | | | | | | | 47,518 | | | | 598,727 | |
| | | | |
| | | | | | | | | | | 5,729,071 | |
| | | | | | | | | | | | |
| | | | |
| Automobiles: 0.42% | | | | | | | | | | | | |
Ford Motor Company | | | | | | | 740,548 | | | | 8,479,275 | |
Harley-Davidson Incorporated | | | | | | | 44,250 | | | | 2,077,980 | |
| | | | |
| | | | | | | | | | | 10,557,255 | |
| | | | | | | | | | | | |
| | | | |
| Distributors: 0.08% | | | | | | | | | | | | |
Genuine Parts Company | | | | | | | 30,115 | | | | 1,960,185 | |
| | | | | | | | | | | | |
| | | | |
| Diversified Consumer Services: 0.05% | | | | | | | | | | | | |
Apollo Group Incorporated Class A Ǡ | | | | | | | 19,592 | | | | 375,970 | |
H&R Block Incorporated | | | | | | | 52,640 | | | | 949,099 | |
| | | | |
| | | | | | | | | | | 1,325,069 | |
| | | | | | | | | | | | |
| | | | |
| Hotels, Restaurants & Leisure: 1.78% | | | | | | | | | | | | |
Carnival Corporation | | | | | | | 86,826 | | | | 3,356,693 | |
Chipotle Mexican Grill Incorporated Ǡ | | | | | | | 6,152 | | | | 1,622,775 | |
Darden Restaurants Incorporated | | | | | | | 24,898 | | | | 1,316,606 | |
International Game Technology | | | | | | | 51,862 | | | | 719,326 | |
Marriott International Incorporated Class A | | | | | | | 48,884 | | | | 1,774,000 | |
McDonald’s Corporation « | | | | | | | 195,803 | | | | 17,042,693 | |
Starbucks Corporation | | | | | | | 147,566 | | | | 7,654,248 | |
Starwood Hotels & Resorts Worldwide Incorporated | | | | | | | 38,148 | | | | 2,058,466 | |
Wyndham Worldwide Corporation | | | | | | | 27,608 | | | | 1,355,277 | |
Wynn Resorts Limited | | | | | | | 15,419 | | | | 1,733,096 | |
Yum! Brands Incorporated | | | | | | | 88,511 | | | | 5,937,318 | |
| | | | |
| | | | | | | | | | | 44,570,498 | |
| | | | | | | | | | | | |
| | | | |
| Household Durables: 0.39% | | | | | | | | | | | | |
D.R. Horton Incorporated « | | | | | | | 53,937 | | | | 1,049,614 | |
Harman International Industries Incorporated | | | | | | | 13,041 | | | | 515,902 | |
Leggett & Platt Incorporated « | | | | | | | 27,299 | | | | 760,277 | |
Lennar Corporation « | | | | | | | 31,613 | | | | 1,202,559 | |
Newell Rubbermaid Incorporated | | | | | | | 56,075 | | | | 1,222,996 | |
Pulte Homes Incorporated Ǡ | | | | | | | 65,571 | | | | 1,102,249 | |
Stanley Black & Decker Incorporated | | | | | | | 32,646 | | | | 2,347,574 | |
Whirlpool Corporation | | | | | | | 15,057 | | | | 1,533,405 | |
| | | | |
| | | | | | | | | | | 9,734,576 | |
| | | | | | | | | | | | |
| | | | |
| Internet & Catalog Retail: 1.07% | | | | | | | | | | | | |
Amazon.com Incorporated † | | | | | | | 70,221 | | | | 17,699,203 | |
Expedia Incorporated | | | | | | | 18,186 | | | | 1,124,986 | |
| | | | |
| 2 | | Wells Fargo Advantage Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Internet & Catalog Retail (continued) | | | | | | | | | | | | |
Netflix Incorporated Ǡ | | | | | | | 10,783 | | | $ | 881,079 | |
priceline.com Incorporated † | | | | | | | 9,674 | | | | 6,415,410 | |
TripAdvisor Incorporated Ǡ | | | | | | | 21,280 | | | | 812,683 | |
| | | | |
| | | | | | | | | | | 26,933,361 | |
| | | | | | | | | | | | |
| | | | |
| Leisure Equipment & Products: 0.13% | | | | | | | | | | | | |
Hasbro Incorporated | | | | | | | 22,505 | | | | 865,542 | |
Mattel Incorporated | | | | | | | 66,197 | | | | 2,483,049 | |
| | | | |
| | | | | | | | | | | 3,348,591 | |
| | | | | | | | | | | | |
| | | | |
| Media: 3.49% | | | | | | | | | | | | |
Cablevision Systems Corporation New York Group Class A | | | | | | | 41,898 | | | | 579,868 | |
CBS Corporation Class B | | | | | | | 115,573 | | | | 4,158,317 | |
Comcast Corporation Class A | | | | | | | 519,555 | | | | 19,317,055 | |
DIRECTV Group Incorporated † | | | | | | | 121,908 | | | | 6,058,828 | |
Discovery Communications Incorporated Class A Ǡ | | | | | | | 47,988 | | | | 2,898,955 | |
Gannett Company Incorporated « | | | | | | | 44,934 | | | | 804,319 | |
Interpublic Group of Companies Incorporated | | | | | | | 84,875 | | | | 918,348 | |
McGraw-Hill Companies Incorporated | | | | | | | 54,405 | | | | 2,889,450 | |
News Corporation Class A | | | | | | | 395,305 | | | | 9,740,315 | |
Omnicom Group Incorporated « | | | | | | | 51,574 | | | | 2,565,291 | |
Scripps Networks Interactive Incorporated | | | | | | | 16,779 | | | | 990,632 | |
Time Warner Cable Incorporated | | | | | | | 59,486 | | | | 5,644,627 | |
Time Warner Incorporated | | | | | | | 184,249 | | | | 8,714,978 | |
Viacom Incorporated Class B | | | | | | | 91,922 | | | | 4,744,094 | |
Walt Disney Company | | | | | | | 348,387 | | | | 17,300,898 | |
Washington Post Company Class B « | | | | | | | 882 | | | | 323,747 | |
| | | | |
| | | | | | | | | | | 87,649,722 | |
| | | | | | | | | | | | |
| | | | |
| Multiline Retail: 0.84% | | | | | | | | | | | | |
Big Lots Incorporated Ǡ | | | | | | | 11,565 | | | | 325,670 | |
Dollar General Corporation † | | | | | | | 51,621 | | | | 2,580,792 | |
Dollar Tree Incorporated † | | | | | | | 44,721 | | | | 1,866,655 | |
Family Dollar Stores Incorporated | | | | | | | 18,833 | | | | 1,340,910 | |
JCPenney Company Incorporated « | | | | | | | 27,650 | | | | 496,041 | |
Kohl’s Corporation | | | | | | | 41,891 | | | | 1,870,433 | |
Macy’s Incorporated | | | | | | | 78,156 | | | | 3,024,637 | |
Nordstrom Incorporated | | | | | | | 29,660 | | | | 1,604,309 | |
Target Corporation | | | | | | | 127,157 | | | | 8,027,421 | |
| | | | |
| | | | | | | | | | | 21,136,868 | |
| | | | | | | | | | | | |
| | | | |
| Specialty Retail: 2.27% | | | | | | | | | | | | |
Abercrombie & Fitch Company Class A « | | | | | | | 16,033 | | | | 735,754 | |
AutoNation Incorporated † | | | | | | | 7,499 | | | | 292,011 | |
AutoZone Incorporated † | | | | | | | 7,268 | | | | 2,789,240 | |
Bed Bath & Beyond Incorporated † | | | | | | | 45,076 | | | | 2,646,863 | |
Best Buy Company Incorporated « | | | | | | | 51,642 | | | | 677,027 | |
CarMax Incorporated † | | | | | | | 44,338 | | | | 1,607,696 | |
GameStop Corporation Class A « | | | | | | | 23,966 | | | | 629,108 | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Index Portfolio | | | 3 | |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Specialty Retail (continued) | | | | | | | | | | | | |
Gap Incorporated | | | | | | | 57,896 | | | $ | 1,995,096 | |
Home Depot Incorporated | | | | | | | 292,694 | | | | 19,045,599 | |
Limited Brands Incorporated | | | | | | | 46,319 | | | | 2,415,536 | |
Lowe’s Companies Incorporated | | | | | | | 221,459 | | | | 7,992,455 | |
O’Reilly Automotive Incorporated † | | | | | | | 23,084 | | | | 2,171,743 | |
PetSmart Incorporated | | | | | | | 21,006 | | | | 1,484,284 | |
Ross Stores Incorporated | | | | | | | 43,479 | | | | 2,474,825 | |
Staples Incorporated « | | | | | | | 132,494 | | | | 1,550,180 | |
Tiffany & Company | | | | | | | 23,113 | | | | 1,363,205 | |
TJX Companies Incorporated | | | | | | | 142,926 | | | | 6,337,339 | |
Urban Outfitters Incorporated † | | | | | | | 21,193 | | | | 798,976 | |
| | | | |
| | | | | | | | | | | 57,006,937 | |
| | | | | | | | | | | | |
| | | | |
| Textiles, Apparel & Luxury Goods: 0.62% | | | | | | | | | | | | |
Coach Incorporated | | | | | | | 55,373 | | | | 3,202,774 | |
Fossil Incorporated † | | | | | | | 10,632 | | | | 919,030 | |
Nike Incorporated Class B | | | | | | | 71,383 | | | | 6,958,415 | |
Ralph Lauren Corporation | | | | | | | 11,858 | | | | 1,862,773 | |
VF Corporation | | | | | | | 17,071 | | | | 2,740,066 | |
| | | | |
| | | | | | | | | | | 15,683,058 | |
| | | | | | | | | | | | |
| | | | |
Consumer Staples: 10.82% | | | | | | | | | | | | |
| | | | |
| Beverages: 2.42% | | | | | | | | | | | | |
Beam Incorporated | | | | | | | 30,750 | | | | 1,725,383 | |
Brown-Forman Corporation Class B « | | | | | | | 29,405 | | | | 2,063,643 | |
Coca-Cola Enterprises Incorporated | | | | | | | 53,751 | | | | 1,675,956 | |
Constellation Brands Incorporated Class A † | | | | | | | 28,580 | | | | 1,025,450 | |
Dr Pepper Snapple Group Incorporated « | | | | | | | 40,883 | | | | 1,833,603 | |
Molson Coors Brewing Company | | | | | | | 30,215 | | | | 1,252,714 | |
Monster Beverage Corporation † | | | | | | | 29,803 | | | | 1,551,246 | |
PepsiCo Incorporated | | | | | | | 302,176 | | | | 21,215,777 | |
The Coca-Cola Company | | | | | | | 751,744 | | | | 28,506,132 | |
| | | | |
| | | | | | | | | | | 60,849,904 | |
| | | | | | | | | | | | |
| | | | |
| Food & Staples Retailing: 2.38% | | | | | | | | | | | | |
Costco Wholesale Corporation | | | | | | | 83,947 | | | | 8,729,649 | |
CVS Caremark Corporation | | | | | | | 247,025 | | | | 11,489,133 | |
Kroger Company | | | | | | | 105,758 | | | | 2,775,090 | |
Safeway Incorporated « | | | | | | | 46,503 | | | | 795,666 | |
Sysco Corporation « | | | | | | | 113,899 | | | | 3,604,903 | |
Wal-Mart Stores Incorporated | | | | | | | 326,339 | | | | 23,502,935 | |
Walgreen Company | | | | | | | 166,418 | | | | 5,643,234 | |
Whole Foods Market Incorporated | | | | | | | 33,346 | | | | 3,113,183 | |
| | | | |
| | | | | | | | | | | 59,653,793 | |
| | | | | | | | | | | | |
| | | | |
| Food Products: 1.73% | | | | | | | | | | | | |
Archer Daniels Midland Company | | | | | | | 127,881 | | | | 3,414,423 | |
Campbell Soup Company « | | | | | | | 34,973 | | | | 1,285,258 | |
ConAgra Foods Incorporated | | | | | | | 78,845 | | | | 2,354,312 | |
| | | | |
| 4 | | Wells Fargo Advantage Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Food Products (continued) | | | | | | | | | | | | |
Dean Foods Company † | | | | | | | 35,890 | | | $ | 615,155 | |
General Mills Incorporated | | | | | | | 125,875 | | | | 5,159,616 | |
H.J. Heinz Company « | | | | | | | 62,178 | | | | 3,634,926 | |
Hormel Foods Corporation « | | | | | | | 26,032 | | | | 807,252 | |
JM Smucker Company | | | | | | | 21,252 | | | | 1,879,952 | |
Kellogg Company « | | | | | | | 47,927 | | | | 2,658,031 | |
Kraft Foods Group Incorporated † | | | | | | | 114,859 | | | | 5,193,924 | |
McCormick & Company Incorporated « | | | | | | | 25,753 | | | | 1,662,614 | |
Mead Johnson Nutrition Company | | | | | | | 39,564 | | | | 2,697,869 | |
Mondelez International Incorporated Class A | | | | | | | 344,577 | | | | 8,921,099 | |
The Hershey Company | | | | | | | 29,445 | | | | 2,157,435 | |
Tyson Foods Incorporated Class A « | | | | | | | 56,221 | | | | 1,077,757 | |
| | | | |
| | | | | | | | | | | 43,519,623 | |
| | | | | | | | | | | | |
| | | | |
| Household Products: 2.20% | | | | | | | | | | | | |
Clorox Company | | | | | | | 25,167 | | | | 1,921,500 | |
Colgate-Palmolive Company | | | | | | | 86,544 | | | | 9,390,024 | |
Kimberly-Clark Corporation « | | | | | | | 76,675 | | | | 6,572,581 | |
Procter & Gamble Company | | | | | | | 534,787 | | | | 37,344,176 | |
| | | | |
| | | | | | | | | | | 55,228,281 | |
| | | | | | | | | | | | |
| | | | |
| Personal Products: 0.15% | | | | | | | | | | | | |
Avon Products Incorporated | | | | | | | 83,893 | | | | 1,170,307 | |
Estee Lauder Companies Incorporated Class A | | | | | | | 46,612 | | | | 2,715,149 | |
| | | | |
| | | | | | | | | | | 3,885,456 | |
| | | | | | | | | | | | |
| | | | |
| Tobacco: 1.94% | | | | | | | | | | | | |
Altria Group Incorporated | | | | | | | 394,708 | | | | 13,345,077 | |
Lorillard Incorporated | | | | | | | 25,361 | | | | 3,072,739 | |
Philip Morris International | | | | | | | 327,310 | | | | 29,418,623 | |
Reynolds American Incorporated | | | | | | | 63,679 | | | | 2,784,046 | |
| | | | |
| | | | | | | | | | | 48,620,485 | |
| | | | | | | | | | | | |
| | | | |
Energy: 10.79% | | | | | | | | | | | | |
| | | | |
| Energy Equipment & Services: 1.84% | | | | | | | | | | | | |
Baker Hughes Incorporated | | | | | | | 85,347 | | | | 3,682,723 | |
Cameron International Corporation † | | | | | | | 47,819 | | | | 2,579,835 | |
Diamond Offshore Drilling Incorporated « | | | | | | | 13,497 | | | | 931,293 | |
Ensco plc Class A ADR | | | | | | | 45,055 | | | | 2,623,553 | |
FMC Technologies Incorporated † | | | | | | | 46,286 | | | | 1,891,246 | |
Halliburton Company | | | | | | | 180,138 | | | | 6,007,602 | |
Helmerich & Payne Incorporated | | | | | | | 20,522 | | | | 1,071,248 | |
Nabors Industries Limited Ǡ | | | | | | | 56,383 | | | | 828,830 | |
National Oilwell Varco Incorporated | | | | | | | 82,797 | | | | 5,655,035 | |
Noble Corporation | | | | | | | 49,047 | | | | 1,691,631 | |
Rowan Companies plc † | | | | | | | 24,115 | | | | 765,169 | |
Schlumberger Limited | | | | | | | 257,664 | | | | 18,453,896 | |
| | | | |
| | | | | | | | | | | 46,182,061 | |
| | | | | | | | | | | | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Index Portfolio | | | 5 | |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Oil, Gas & Consumable Fuels: 8.95% | | | | | | | | | | | | |
Anadarko Petroleum Corporation | | | | | | | 97,021 | | | $ | 7,100,967 | |
Apache Corporation | | | | | | | 75,961 | | | | 5,855,833 | |
Cabot Oil & Gas Corporation | | | | | | | 40,773 | | | | 1,920,408 | |
Chesapeake Energy Corporation | | | | | | | 100,775 | | | | 1,716,198 | |
Chevron Corporation | | | | | | | 380,981 | | | | 40,265,882 | |
ConocoPhillips Company | | | | | | | 235,824 | | | | 13,427,819 | |
CONSOL Energy Incorporated « | | | | | | | 44,198 | | | | 1,385,607 | |
Denbury Resources Incorporated † | | | | | | | 75,957 | | | | 1,172,017 | |
Devon Energy Corporation | | | | | | | 73,042 | | | | 3,774,080 | |
EOG Resources Incorporated | | | | | | | 52,430 | | | | 6,166,817 | |
EQT Corporation | | | | | | | 29,046 | | | | 1,744,503 | |
Exxon Mobil Corporation | | | | | | | 896,260 | | | | 78,996,356 | |
Hess Corporation | | | | | | | 57,690 | | | | 2,862,001 | |
Kinder Morgan Incorporated | | | | | | | 122,847 | | | | 4,153,457 | |
Marathon Oil Corporation | | | | | | | 136,887 | | | | 4,222,964 | |
Marathon Petroleum Corporation | | | | | | | 65,686 | | | | 3,910,944 | |
Murphy Oil Corporation | | | | | | | 35,832 | | | | 2,033,108 | |
Newfield Exploration Company † | | | | | | | 26,209 | | | | 637,927 | |
Noble Energy Incorporated | | | | | | | 34,528 | | | | 3,375,112 | |
Occidental Petroleum Corporation | | | | | | | 157,264 | | | | 11,827,825 | |
Peabody Energy Corporation | | | | | | | 52,101 | | | | 1,308,256 | |
Phillips 66 Incorporated | | | | | | | 121,727 | | | | 6,374,843 | |
Pioneer Natural Resources Company | | | | | | | 23,889 | | | | 2,556,123 | |
QEP Resources Incorporated | | | | | | | 34,517 | | | | 970,618 | |
Range Resources Corporation | | | | | | | 31,549 | | | | 2,019,767 | |
Southwestern Energy Company Ǡ | | | | | | | 67,603 | | | | 2,346,500 | |
Spectra Energy Corporation | | | | | | | 126,765 | | | | 3,543,082 | |
Tesoro Petroleum Corporation | | | | | | | 27,144 | | | | 1,147,648 | |
The Williams Companies Incorporated | | | | | | | 121,639 | | | | 3,994,625 | |
Valero Energy Corporation | | | | | | | 107,103 | | | | 3,455,143 | |
WPX Energy Incorporated Ǡ | | | | | | | 38,646 | | | | 610,220 | |
| | | | |
| | | | | | | | | | | 224,876,650 | |
| | | | | | | | | | | | |
| | | | |
Financials: 14.67% | | | | | | | | | | | | |
| | | | |
| Capital Markets: 1.87% | | | | | | | | | | | | |
Ameriprise Financial Incorporated | | | | | | | 40,916 | | | | 2,482,374 | |
Bank of New York Mellon Corporation | | | | | | | 229,368 | | | | 5,491,070 | |
BlackRock Incorporated | | | | | | | 24,843 | | | | 4,895,065 | |
Charles Schwab Corporation | | | | | | | 212,754 | | | | 2,787,077 | |
E*TRADE Financial Corporation † | | | | | | | 49,857 | | | | 419,796 | |
Federated Investors Incorporated Class B « | | | | | | | 18,195 | | | | 361,171 | |
Franklin Resources Incorporated « | | | | | | | 26,832 | | | | 3,542,361 | |
Goldman Sachs Group Incorporated | | | | | | | 87,501 | | | | 10,306,743 | |
Invesco Limited | | | | | | | 86,448 | | | | 2,160,336 | |
Legg Mason Incorporated « | | | | | | | 23,339 | | | | 595,845 | |
Morgan Stanley | | | | | | | 268,504 | | | | 4,529,662 | |
Northern Trust Corporation | | | | | | | 42,497 | | | | 2,040,706 | |
State Street Corporation | | | | | | | 93,026 | | | | 4,134,075 | |
T. Rowe Price Group Incorporated « | | | | | | | 49,286 | | | | 3,187,326 | |
| | | | |
| | | | | | | | | | | 46,933,607 | |
| | | | | | | | | | | | |
| | | | |
| 6 | | Wells Fargo Advantage Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Commercial Banks: 2.68% | | | | | | | | | | | | |
Branch Banking & Trust Corporation | | | | | | | 135,747 | | | $ | 3,823,993 | |
Comerica Incorporated | | | | | | | 37,570 | | | | 1,111,696 | |
Fifth Third Bancorp | | | | | | | 178,422 | | | | 2,612,098 | |
First Horizon National Corporation | | | | | | | 48,311 | | | | 457,022 | |
Huntington Bancshares Incorporated | | | | | | | 166,672 | | | | 1,025,033 | |
KeyCorp | | | | | | | 183,189 | | | | 1,480,167 | |
M&T Bank Corporation « | | | | | | | 23,368 | | | | 2,283,755 | |
PNC Financial Services Group Incorporated | | | | | | | 102,793 | | | | 5,770,799 | |
Regions Financial Corporation | | | | | | | 274,423 | | | | 1,830,401 | |
SunTrust Banks Incorporated | | | | | | | 104,555 | | | | 2,838,668 | |
US Bancorp | | | | | | | 368,003 | | | | 11,871,777 | |
Wells Fargo & Company (l) | | | | | | | 953,829 | | | | 31,485,895 | |
Zions Bancorporation « | | | | | | | 35,755 | | | | 717,603 | |
| | | | |
| | | | | | | | | | | 67,308,907 | |
| | | | | | | | | | | | |
| | | | |
| Consumer Finance: 0.91% | | | | | | | | | | | | |
American Express Company | | | | | | | 191,501 | | | | 10,704,906 | |
Capital One Financial Corporation | | | | | | | 112,810 | | | | 6,497,856 | |
Discover Financial Services | | | | | | | 99,979 | | | | 4,160,126 | |
SLM Corporation | | | | | | | 91,142 | | | | 1,508,400 | |
| | | | |
| | | | | | | | | | | 22,871,288 | |
| | | | | | | | | | | | |
| | | | |
| Diversified Financial Services: 4.44% | | | | | | | | | | | | |
Bank of America Corporation | | | | | | | 2,092,520 | | | | 20,632,247 | |
Berkshire Hathaway Incorporated Class B † | | | | | | | 356,069 | | | | 31,362,558 | |
Citigroup Incorporated | | | | | | | 569,389 | | | | 19,683,778 | |
CME Group Incorporated « | | | | | | | 59,398 | | | | 3,282,927 | |
InterContinental Exchange Incorporated † | | | | | | | 14,128 | | | | 1,867,015 | |
JPMorgan Chase & Company | | | | | | | 737,590 | | | | 30,300,197 | |
Leucadia National Corporation « | | | | | | | 38,467 | | | | 852,044 | |
Moody’s Corporation « | | | | | | | 37,552 | | | | 1,824,276 | |
NASDAQ Stock Market Incorporated | | | | | | | 23,007 | | | | 557,460 | |
NYSE Euronext Incorporated | | | | | | | 47,765 | | | | 1,115,313 | |
| | | | |
| | | | | | | | | | | 111,477,815 | |
| | | | | | | | | | | | |
| | | | |
| Insurance: 2.57% | | | | | | | | | | | | |
ACE Limited | | | | | | | 65,840 | | | | 5,216,503 | |
AFLAC Incorporated « | | | | | | | 90,923 | | | | 4,818,010 | |
Allstate Corporation | | | | | | | 94,156 | | | | 3,811,435 | |
American International Group Incorporated † | | | | | | | 226,447 | | | | 7,502,189 | |
Aon plc | | | | | | | 62,601 | | | | 3,555,737 | |
Assurant Incorporated | | | | | | | 15,744 | | | | 538,602 | |
Chubb Corporation | | | | | | | 51,619 | | | | 3,974,147 | |
Cincinnati Financial Corporation | | | | | | | 28,401 | | | | 1,150,809 | |
Genworth Financial Incorporated † | | | | | | | 95,458 | | | | 567,975 | |
Lincoln National Corporation | | | | | | | 54,206 | | | | 1,338,888 | |
Loews Corporation | | | | | | | 60,681 | | | | 2,480,639 | |
Marsh & McLennan Companies Incorporated | | | | | | | 105,664 | | | | 3,721,486 | |
MetLife Incorporated | | | | | | | 206,253 | | | | 6,845,537 | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Index Portfolio | | | 7 | |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Insurance (continued) | | | | | | | | | | | | |
Principal Financial Group Incorporated « | | | | | | | 53,864 | | | $ | 1,462,408 | |
Prudential Financial Incorporated | | | | | | | 90,481 | | | | 4,715,870 | |
The Hartford Financial Services Group Incorporated « | | | | | | | 84,621 | | | | 1,792,273 | |
The Progressive Corporation « | | | | | | | 108,816 | | | | 2,312,340 | |
The Travelers Companies Incorporated | | | | | | | 74,824 | | | | 5,299,036 | |
Torchmark Corporation | | | | | | | 18,523 | | | | 963,011 | |
UnumProvident Corporation | | | | | | | 54,394 | | | | 1,109,094 | |
XL Group plc | | | | | | | 59,358 | | | | 1,444,180 | |
| | | | |
| | | | | | | | | | | 64,620,169 | |
| | | | | | | | | | | | |
| | | | |
| Real Estate Management & Development: 0.05% | | | | | | | | | | | | |
CBRE Group Incorporated † | | | | | | | 58,631 | | | | 1,109,885 | |
| | | | | | | | | | | | |
| | | | |
| REITs: 2.09% | | | | | | | | | | | | |
American Tower Corporation | | | | | | | 76,726 | | | | 5,749,079 | |
Apartment Investment & Management Company Class A | | | | | | | 28,260 | | | | 708,478 | |
AvalonBay Communities Incorporated | | | | | | | 21,632 | | | | 2,850,881 | |
Boston Properties Incorporated | | | | | | | 29,273 | | | | 3,004,288 | |
Equity Residential Corporation | | | | | | | 62,136 | | | | 3,449,169 | |
HCP Incorporated | | | | | | | 87,671 | | | | 3,949,579 | |
Health Care REIT Incorporated | | | | | | | 49,428 | | | | 2,910,815 | |
Host Hotels & Resorts Incorporated « | | | | | | | 140,302 | | | | 2,061,036 | |
Kimco Realty Corporation « | | | | | | | 79,017 | | | | 1,521,867 | |
Plum Creek Timber Company « | | | | | | | 31,362 | | | | 1,343,862 | |
Prologis Incorporated | | | | | | | 89,448 | | | | 3,035,865 | |
Public Storage Incorporated | | | | | | | 27,982 | | | | 3,935,388 | |
Simon Property Group Incorporated | | | | | | | 58,896 | | | | 8,959,848 | |
Ventas Incorporated | | | | | | | 57,352 | | | | 3,650,455 | |
Vornado Realty Trust | | | | | | | 32,832 | | | | 2,509,350 | |
Weyerhaeuser Company | | | | | | | 104,416 | | | | 2,877,705 | |
| | | | |
| | | | | | | | | | | 52,517,665 | |
| | | | | | | | | | | | |
| | | | |
| Thrifts & Mortgage Finance: 0.06% | | | | | | | | | | | | |
Hudson City Bancorp Incorporated | | | | | | | 92,291 | | | | 743,865 | |
People’s United Financial Incorporated | | | | | | | 68,203 | | | | 831,395 | |
| | | | |
| | | | | | | | | | | 1,575,260 | |
| | | | | | | | | | | | |
| | | | |
Health Care: 11.92% | | | | | | | | | | | | |
| | | | |
| Biotechnology: 1.64% | | | | | | | | | | | | |
Alexion Pharmaceuticals Incorporated † | | | | | | | 37,486 | | | | 3,599,406 | |
Amgen Incorporated | | | | | | | 149,657 | | | | 13,289,542 | |
Biogen Idec Incorporated † | | | | | | | 45,891 | | | | 6,841,889 | |
Celgene Corporation † | | | | | | | 83,768 | | | | 6,583,327 | |
Gilead Sciences Incorporated Ǡ | | | | | | | 146,900 | | | | 11,017,500 | |
| | | | |
| | | | | | | | | | | 41,331,664 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Equipment & Supplies: 1.75% | | | | | | | | | | | | |
Baxter International Incorporated | | | | | | | 106,254 | | | | 7,041,453 | |
Becton Dickinson & Company « | | | | | | | 38,747 | | | | 2,970,732 | |
| | | | |
| 8 | | Wells Fargo Advantage Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Health Care Equipment & Supplies (continued) | | | | | | | | | | | | |
Boston Scientific Corporation † | | | | | | | 275,518 | | | $ | 1,526,370 | |
C.R. Bard Incorporated | | | | | | | 15,137 | | | | 1,498,714 | |
CareFusion Corporation † | | | | | | | 43,089 | | | | 1,203,045 | |
Covidien plc | | | | | | | 93,219 | | | | 5,416,956 | |
DENTSPLY International Incorporated | | | | | | | 27,530 | | | | 1,092,941 | |
Edwards Lifesciences Corporation † | | | | | | | 22,468 | | | | 1,949,548 | |
Intuitive Surgical Incorporated † | | | | | | | 7,754 | | | | 4,101,866 | |
Medtronic Incorporated | | | | | | | 198,077 | | | | 8,341,022 | |
St. Jude Medical Incorporated | | | | | | | 60,962 | | | | 2,089,777 | |
Stryker Corporation | | | | | | | 56,141 | | | | 3,040,597 | |
Varian Medical Systems Incorporated † | | | | | | | 21,497 | | | | 1,486,733 | |
Zimmer Holdings Incorporated | | | | | | | 33,920 | | | | 2,237,702 | |
| | | | |
| | | | | | | | | | | 43,997,456 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Providers & Services: 1.87% | | | | | | | | | | | | |
Aetna Incorporated | | | | | | | 64,890 | | | | 2,802,599 | |
AmerisourceBergen Corporation « | | | | | | | 48,859 | | | | 2,062,827 | |
Cardinal Health Incorporated | | | | | | | 66,227 | | | | 2,678,882 | |
CIGNA Corporation | | | | | | | 55,990 | | | | 2,926,597 | |
Coventry Health Care Incorporated | | | | | | | 25,989 | | | | 1,135,200 | |
DaVita Incorporated † | | | | | | | 16,152 | | | | 1,744,416 | |
Express Scripts Holding Corporation † | | | | | | | 157,420 | | | | 8,477,067 | |
Humana Incorporated | | | | | | | 31,399 | | | | 2,053,809 | |
Laboratory Corporation of America Holdings Ǡ | | | | | | | 18,621 | | | | 1,575,150 | |
McKesson Corporation | | | | | | | 45,825 | | | | 4,329,088 | |
Patterson Companies Incorporated | | | | | | | 16,497 | | | | 562,548 | |
Quest Diagnostics Incorporated | | | | | | | 30,824 | | | | 1,781,011 | |
Tenet Healthcare Corporation † | | | | | | | 20,229 | | | | 585,832 | |
UnitedHealth Group Incorporated | | | | | | | 200,517 | | | | 10,906,120 | |
WellPoint Incorporated | | | | | | | 58,960 | | | | 3,295,864 | |
| | | | |
| | | | | | | | | | | 46,917,010 | |
| | | | | | | | | | | | |
| | | | |
| Health Care Technology: 0.09% | | | | | | | | | | | | |
Cerner Corporation † | | | | | | | 28,251 | | | | 2,181,542 | |
| | | | | | | | | | | | |
| | | | |
| Life Sciences Tools & Services: 0.43% | | | | | | | | | | | | |
Agilent Technologies Incorporated | | | | | | | 67,656 | | | | 2,590,548 | |
Life Technologies Corporation † | | | | | | | 34,036 | | | | 1,679,677 | |
PerkinElmer Incorporated | | | | | | | 22,149 | | | | 701,016 | |
Thermo Fisher Scientific Incorporated | | | | | | | 70,978 | | | | 4,510,652 | |
Waters Corporation † | | | | | | | 17,024 | | | | 1,439,379 | |
| | | | |
| | | | | | | | | | | 10,921,272 | |
| | | | | | | | | | | | |
| | | | |
| Pharmaceuticals: 6.14% | | | | | | | | | | | | |
Abbott Laboratories | | | | | | | 304,712 | | | | 19,806,280 | |
Allergan Incorporated | | | | | | | 59,713 | | | | 5,538,381 | |
Bristol-Myers Squibb Company | | | | | | | 326,009 | | | | 10,637,674 | |
Eli Lilly & Company | | | | | | | 198,278 | | | | 9,723,553 | |
Forest Laboratories Incorporated † | | | | | | | 45,398 | | | | 1,609,813 | |
Hospira Incorporated † | | | | | | | 32,059 | | | | 955,358 | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Index Portfolio | | | 9 | |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Pharmaceuticals (continued) | | | | | | | | | | | | |
Johnson & Johnson Services Incorporated « | | | | | | | 535,324 | | | $ | 37,328,143 | |
Merck & Company Incorporated | | | | | | | 591,359 | | | | 26,197,204 | |
Mylan Laboratories Incorporated † | | | | | | | 78,810 | | | | 2,142,056 | |
Perrigo Company « | | | | | | | 17,066 | | | | 1,766,331 | |
Pfizer Incorporated | | | | | | | 1,450,322 | | | | 36,287,056 | |
Watson Pharmaceuticals Incorporated † | | | | | | | 24,784 | | | | 2,181,240 | |
| | | | |
| | | | | | | | | | | 154,173,089 | |
| | | | | | | | | | | | |
| | | | |
Industrials: 9.75% | | | | | | | | | | | | |
| | | | |
| Aerospace & Defense: 2.24% | | | | | | | | | | | | |
Boeing Company | | | | | | | 131,376 | | | | 9,758,609 | |
General Dynamics Corporation | | | | | | | 64,388 | | | | 4,281,802 | |
Honeywell International Incorporated | | | | | | | 151,560 | | | | 9,295,175 | |
L-3 Communications Holdings Incorporated | | | | | | | 18,748 | | | | 1,440,784 | |
Lockheed Martin Corporation « | | | | | | | 52,282 | | | | 4,877,911 | |
Northrop Grumman Corporation | | | | | | | 48,000 | | | | 3,201,600 | |
Precision Castparts Corporation | | | | | | | 28,222 | | | | 5,175,633 | |
Raytheon Company | | | | | | | 64,467 | | | | 3,683,000 | |
Rockwell Collins Incorporated « | | | | | | | 27,601 | | | | 1,578,225 | |
United Technologies Corporation | | | | | | | 162,875 | | | | 13,047,916 | |
| | | | |
| | | | | | | | | | | 56,340,655 | |
| | | | | | | | | | | | |
| | | | |
| Air Freight & Logistics: 0.75% | | | | | | | | | | | | |
C.H. Robinson Worldwide Incorporated « | | | | | | | 31,353 | | | | 1,935,734 | |
Expeditors International of Washington Incorporated « | | | | | | | 40,880 | | | | 1,529,730 | |
FedEx Corporation | | | | | | | 56,700 | | | | 5,076,351 | |
United Parcel Service Incorporated Class B | | | | | | | 139,573 | | | | 10,204,182 | |
| | | | |
| | | | | | | | | | | 18,745,997 | |
| | | | | | | | | | | | |
| | | | |
| Airlines: 0.05% | | | | | | | | | | | | |
Southwest Airlines Company | | | | | | | 144,279 | | | | 1,374,979 | |
| | | | | | | | | | | | |
| | | | |
| Building Products: 0.05% | | | | | | | | | | | | |
Masco Corporation | | | | | | | 69,337 | | | | 1,175,956 | |
| | | | | | | | | | | | |
| | | | |
| Commercial Services & Supplies: 0.56% | | | | | | | | | | | | |
Avery Dennison Corporation | | | | | | | 19,701 | | | | 658,998 | |
Cintas Corporation « | | | | | | | 20,883 | | | | 865,392 | |
Dun & Bradstreet Corporation « | | | | | | | 8,715 | | | | 690,054 | |
Equifax Incorporated | | | | | | | 23,274 | | | | 1,192,560 | |
Iron Mountain Incorporated | | | | | | | 32,239 | | | | 1,018,760 | |
Pitney Bowes Incorporated « | | | | | | | 38,957 | | | | 435,929 | |
Republic Services Incorporated | | | | | | | 58,158 | | | | 1,655,758 | |
Robert Half International Incorporated | | | | | | | 27,533 | | | | 778,083 | |
RR Donnelley & Sons Company « | | | | | | | 35,008 | | | | 329,075 | |
Stericycle Incorporated Ǡ | | | | | | | 16,631 | | | | 1,554,500 | |
The ADT Corporation | | | | | | | 44,646 | | | | 2,049,251 | |
Waste Management Incorporated « | | | | | | | 84,607 | | | | 2,755,650 | |
| | | | |
| | | | | | | | | | | 13,984,010 | |
| | | | | | | | | | | | |
| | | | |
| 10 | | Wells Fargo Advantage Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Construction & Engineering: 0.15% | | | | | | | | | | | | |
Fluor Corporation | | | | | | | 32,420 | | | $ | 1,720,854 | |
Jacobs Engineering Group Incorporated † | | | | | | | 25,191 | | | | 1,031,320 | |
Quanta Services Incorporated † | | | | | | | 41,381 | | | | 1,070,113 | |
| | | | |
| | | | | | | | | | | 3,822,287 | |
| | | | | | | | | | | | |
| | | | |
| Electrical Equipment: 0.54% | | | | | | | | | | | | |
Cooper Industries plc | | | | | | | 31,042 | | | | 2,312,629 | |
Emerson Electric Company « | | | | | | | 141,222 | | | | 7,093,581 | |
Rockwell Automation Incorporated | | | | | | | 27,406 | | | | 2,171,651 | |
Roper Industries Incorporated « | | | | | | | 18,991 | | | | 2,118,066 | |
| | | | |
| | | | | | | | | | | 13,695,927 | |
| | | | | | | | | | | | |
| | | | |
| Industrial Conglomerates: 2.57% | | | | | | | | | | | | |
3M Company | | | | | | | 123,492 | | | | 11,231,597 | |
Danaher Corporation | | | | | | | 113,412 | | | | 6,120,846 | |
General Electric Company | | | | | | | 2,050,171 | | | | 43,320,113 | |
Textron Incorporated | | | | | | | 54,549 | | | | 1,281,356 | |
Tyco International Limited | | | | | | | 89,292 | | | | 2,533,214 | |
| | | | |
| | | | | | | | | | | 64,487,126 | |
| | | | | | | | | | | | |
| | | | |
| Machinery: 1.88% | | | | | | | | | | | | |
Caterpillar Incorporated « | | | | | | | 126,843 | | | | 10,812,097 | |
Cummins Incorporated | | | | | | | 34,383 | | | | 3,375,035 | |
Deere & Company | | | | | | | 76,049 | | | | 6,391,918 | |
Dover Corporation | | | | | | | 35,495 | | | | 2,257,127 | |
Eaton Corporation « | | | | | | | 65,551 | | | | 3,419,140 | |
Flowserve Corporation | | | | | | | 9,928 | | | | 1,375,524 | |
Illinois Tool Works Incorporated | | | | | | | 83,746 | | | | 5,156,241 | |
Ingersoll-Rand plc | | | | | | | 55,662 | | | | 2,715,192 | |
Joy Global Incorporated « | | | | | | | 20,558 | | | | 1,171,600 | |
Paccar Incorporated « | | | | | | | 68,639 | | | | 3,015,998 | |
Pall Corporation | | | | | | | 22,563 | | | | 1,342,047 | |
Parker Hannifin Corporation | | | | | | | 29,017 | | | | 2,383,747 | |
Pentair Limited | | | | | | | 40,692 | | | | 1,973,155 | |
Snap-On Incorporated | | | | | | | 11,293 | | | | 897,116 | |
Xylem Incorporated | | | | | | | 36,036 | | | | 940,179 | |
| | | | |
| | | | | | | | | | | 47,226,116 | |
| | | | | | | | | | | | |
| | | | |
| Road & Rail: 0.78% | | | | | | | | | | | | |
CSX Corporation | | | | | | | 201,931 | | | | 3,990,157 | |
Norfolk Southern Corporation | | | | | | | 62,039 | | | | 3,745,915 | |
Ryder System Incorporated | | | | | | | 9,926 | | | | 467,217 | |
Union Pacific Corporation | | | | | | | 91,959 | | | | 11,290,726 | |
| | | | |
| | | | | | | | | | | 19,494,015 | |
| | | | | | | | | | | | |
| | | | |
| Trading Companies & Distributors: 0.18% | | | | | | | | | | | | |
Fastenal Company « | | | | | | | 52,328 | | | | 2,187,834 | |
W.W. Grainger Incorporated | | | | | | | 11,638 | | | | 2,258,005 | |
| | | | |
| | | | | | | | | | | 4,445,839 | |
| | | | | | | | | | | | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Index Portfolio | | | 11 | |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Information Technology: 18.81% | | | | | | | | | | | | |
| | | | |
| Communications Equipment: 1.92% | | | | | | | | | | | | |
Cisco Systems Incorporated | | | | | | | 1,027,151 | | | $ | 19,423,425 | |
F5 Networks Incorporated † | | | | | | | 15,345 | | | | 1,437,520 | |
Harris Corporation « | | | | | | | 21,987 | | | | 1,036,247 | |
JDS Uniphase Corporation † | | | | | | | 45,030 | | | | 546,214 | |
Juniper Networks Incorporated † | | | | | | | 102,246 | | | | 1,838,383 | |
Motorola Solutions Incorporated | | | | | | | 55,591 | | | | 3,026,930 | |
QUALCOMM Incorporated | | | | | | | 330,733 | | | | 21,041,233 | |
| | | | |
| | | | | | | | | | | 48,349,952 | |
| | | | | | | | | | | | |
| | | | |
| Computers & Peripherals: 5.24% | | | | | | | | | | | | |
Apple Incorporated | | | | | | | 182,013 | | | | 106,528,569 | |
Dell Incorporated | | | | | | | 282,913 | | | | 2,727,281 | |
EMC Corporation † | | | | | | | 407,501 | | | | 10,114,175 | |
Hewlett-Packard Company « | | | | | | | 381,762 | | | | 4,959,088 | |
NetApp Incorporated † | | | | | | | 70,544 | | | | 2,236,950 | |
SanDisk Corporation † | | | | | | | 46,900 | | | | 1,833,790 | |
Seagate Technology plc « | | | | | | | 68,651 | | | | 1,723,140 | |
Western Digital Corporation | | | | | | | 43,209 | | | | 1,444,909 | |
| | | | |
| | | | | | | | | | | 131,567,902 | |
| | | | | | | | | | | | |
| | | | |
| Electronic Equipment, Instruments & Components: 0.41% | | | | | | | | | | | | |
Amphenol Corporation Class A | | | | | | | 31,258 | | | | 1,935,495 | |
Corning Incorporated | | | | | | | 289,117 | | | | 3,535,901 | |
FLIR Systems Incorporated | | | | | | | 29,329 | | | | 598,312 | |
Jabil Circuit Incorporated | | | | | | | 36,307 | | | | 689,833 | |
Molex Incorporated | | | | | | | 26,735 | | | | 705,269 | |
TE Connectivity Limited | | | | | | | 83,066 | | | | 2,923,093 | |
| | | | |
| | | | | | | | | | | 10,387,903 | |
| | | | | | | | | | | | |
| | | | |
| Internet Software & Services: 2.15% | | | | | | | | | | | | |
Akamai Technologies Incorporated † | | | | | | | 34,427 | | | | 1,260,717 | |
eBay Incorporated † | | | | | | | 225,195 | | | | 11,894,800 | |
Google Incorporated Class A † | | | | | | | 51,434 | | | | 35,919,963 | |
VeriSign Incorporated † | | | | | | | 30,366 | | | | 1,036,392 | |
Yahoo! Incorporated † | | | | | | | 202,411 | | | | 3,799,254 | |
| | | | |
| | | | | | | | | | | 53,911,126 | |
| | | | | | | | | | | | |
| | | | |
| IT Services: 3.76% | | | | | | | | | | | | |
Accenture plc | | | | | | | 123,257 | | | | 8,371,615 | |
Automatic Data Processing Incorporated | | | | | | | 94,075 | | | | 5,339,697 | |
Cognizant Technology Solutions Corporation Class A † | | | | | | | 57,971 | | | | 3,897,390 | |
Computer Sciences Corporation | | | | | | | 30,160 | | | | 1,147,890 | |
Fidelity National Information Services Incorporated | | | | | | | 48,623 | | | | 1,755,290 | |
Fiserv Incorporated † | | | | | | | 26,343 | | | | 2,028,148 | |
International Business Machines Corporation | | | | | | | 208,575 | | | | 39,643,850 | |
MasterCard Incorporated | | | | | | | 20,839 | | | | 10,183,603 | |
Paychex Incorporated « | | | | | | | 62,688 | | | | 2,039,868 | |
SAIC Incorporated | | | | | | | 55,089 | | | | 635,176 | |
| | | | |
| 12 | | Wells Fargo Advantage Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| IT Services (continued) | | | | | | | | | | | | |
Teradata Corporation † | | | | | | | 32,736 | | | $ | 1,947,137 | |
Total System Services Incorporated | | | | | | | 31,404 | | | | 689,318 | |
Visa Incorporated Class A | | | | | | | 101,486 | | | | 15,193,469 | |
Western Union Company | | | | | | | 116,964 | | | | 1,474,916 | |
| | | | |
| | | | | | | | | | | 94,347,367 | |
| | | | | | | | | | | | |
| | | | |
| Office Electronics: 0.07% | | | | | | | | | | | | |
Xerox Corporation | | | | | | | 253,815 | | | | 1,728,480 | |
| | | | | | | | | | | | |
| | | | |
| Semiconductors & Semiconductor Equipment: 1.88% | | | | | | | | | | | | |
Advanced Micro Devices Incorporated Ǡ | | | | | | | 116,776 | | | | 256,907 | |
Altera Corporation | | | | | | | 62,118 | | | | 2,012,002 | |
Analog Devices Incorporated | | | | | | | 58,037 | | | | 2,356,302 | |
Applied Materials Incorporated | | | | | | | 240,280 | | | | 2,578,204 | |
Broadcom Corporation Class A | | | | | | | 99,856 | | | | 3,233,337 | |
First Solar Incorporated Ǡ | | | | | | | 11,652 | | | | 314,487 | |
Intel Corporation | | | | | | | 971,414 | | | | 19,010,572 | |
KLA-Tencor Corporation | | | | | | | 32,332 | | | | 1,470,136 | |
Lam Research Corporation † | | | | | | | 33,269 | | | | 1,168,407 | |
Linear Technology Corporation | | | | | | | 44,711 | | | | 1,483,958 | |
LSI Corporation † | | | | | | | 108,260 | | | | 729,672 | |
Microchip Technology Incorporated « | | | | | | | 37,608 | | | | 1,144,035 | |
Micron Technology Incorporated † | | | | | | | 197,571 | | | | 1,181,475 | |
NVIDIA Corporation | | | | | | | 120,281 | | | | 1,440,966 | |
Teradyne Incorporated Ǡ | | | | | | | 36,424 | | | | 569,671 | |
Texas Instruments Incorporated « | | | | | | | 220,914 | | | | 6,510,336 | |
Xilinx Incorporated | | | | | | | 50,905 | | | | 1,763,858 | |
| | | | |
| | | | | | | | | | | 47,224,325 | |
| | | | | | | | | | | | |
| | | | |
| Software: 3.38% | | | | | | | | | | | | |
Adobe Systems Incorporated † | | | | | | | 95,484 | | | | 3,304,701 | |
Autodesk Incorporated † | | | | | | | 44,056 | | | | 1,459,575 | |
BMC Software Incorporated † | | | | | | | 28,486 | | | | 1,166,787 | |
CA Incorporated | | | | | | | 66,483 | | | | 1,473,263 | |
Citrix Systems Incorporated † | | | | | | | 36,302 | | | | 2,220,230 | |
Electronic Arts Incorporated † | | | | | | | 61,821 | | | | 915,569 | |
Intuit Incorporated | | | | | | | 53,599 | | | | 3,211,116 | |
Microsoft Corporation | | | | | | | 1,464,995 | | | | 38,998,167 | |
Oracle Corporation | | | | | | | 739,454 | | | | 23,736,473 | |
Red Hat Incorporated † | | | | | | | 37,479 | | | | 1,851,463 | |
Salesforce.com Incorporated Ǡ | | | | | | | 24,830 | | | | 3,914,946 | |
Symantec Corporation † | | | | | | | 136,489 | | | | 2,560,534 | |
| | | | |
| | | | | | | | | | | 84,812,824 | |
| | | | | | | | | | | | |
| | | | |
Materials: 3.46% | | | | | | | | | | | | |
| | | | |
| Chemicals: 2.38% | | | | | | | | | | | | |
Air Products & Chemicals Incorporated | | | | | | | 41,106 | | | | 3,409,332 | |
Airgas Incorporated | | | | | | | 13,463 | | | | 1,192,418 | |
CF Industries Holdings Incorporated | | | | | | | 12,174 | | | | 2,605,601 | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Index Portfolio | | | 13 | |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Chemicals (continued) | | | | | | | | | | | | |
Dow Chemical Company | | | | | | | 232,632 | | | $ | 7,023,160 | |
E.I. du Pont de Nemours & Company | | | | | | | 180,647 | | | | 7,793,112 | |
Eastman Chemical Company | | | | | | | 29,692 | | | | 1,806,758 | |
Ecolab Incorporated | | | | | | | 51,116 | | | | 3,684,441 | |
FMC Corporation | | | | | | | 26,663 | | | | 1,478,730 | |
International Flavors & Fragrances Incorporated | | | | | | | 15,820 | | | | 1,028,775 | |
LyondellBasell Industries NV Class A | | | | | | | 65,866 | | | | 3,275,516 | |
Monsanto Company | | | | | | | 103,481 | | | | 9,477,825 | |
Mosaic Company | | | | | | | 53,698 | | | | 2,902,914 | |
PPG Industries Incorporated | | | | | | | 29,647 | | | | 3,684,233 | |
Praxair Incorporated | | | | | | | 57,895 | | | | 6,206,923 | |
Sherwin-Williams Company « | | | | | | | 16,540 | | | | 2,522,681 | |
Sigma-Aldrich Corporation « | | | | | | | 23,448 | | | | 1,700,449 | |
| | | | |
| | | | | | | | | | | 59,792,868 | |
| | | | | | | | | | | | |
| | | | |
| Construction Materials: 0.05% | | | | | | | | | | | | |
Vulcan Materials Company « | | | | | | | 25,124 | | | | 1,327,552 | |
| | | | | | | | | | | | |
| | | | |
| Containers & Packaging: 0.13% | | | | | | | | | | | | |
Ball Corporation | | | | | | | 30,044 | | | | 1,342,666 | |
Bemis Company Incorporated | | | | | | | 20,054 | | | | 673,814 | |
Owens-Illinois Incorporated † | | | | | | | 32,051 | | | | 641,982 | |
Sealed Air Corporation « | | | | | | | 37,699 | | | | 634,097 | |
| | | | |
| | | | | | | | | | | 3,292,559 | |
| | | | | | | | | | | | |
| | | | |
| Metals & Mining: 0.73% | | | | | | | | | | | | |
Alcoa Incorporated « | | | | | | | 207,154 | | | | 1,742,165 | |
Allegheny Technologies Incorporated | | | | | | | 20,810 | | | | 544,806 | |
Cliffs Natural Resources Incorporated « | | | | | | | 27,667 | | | | 795,426 | |
Freeport-McMoRan Copper & Gold Incorporated Class B | | | | | | | 184,312 | | | | 7,190,011 | |
Newmont Mining Corporation | | | | | | | 96,338 | | | | 4,536,556 | |
Nucor Corporation | | | | | | | 61,640 | | | | 2,538,335 | |
Titanium Metals Corporation « | | | | | | | 14,276 | | | | 237,267 | |
United States Steel Corporation « | | | | | | | 28,014 | | | | 603,982 | |
| | | | |
| | | | | | | | | | | 18,188,548 | |
| | | | | | | | | | | | |
| | | | |
| Paper & Forest Products: 0.17% | | | | | | | | | | | | |
International Paper Company | | | | | | | 84,915 | | | | 3,153,743 | |
MeadWestvaco Corporation | | | | | | | 33,709 | | | | 1,041,945 | |
| | | | |
| | | | | | | | | | | 4,195,688 | |
| | | | | | | | | | | | |
| | | | |
Telecommunication Services: 3.07% | | | | | | | | | | | | |
| | | | |
| Diversified Telecommunication Services: 2.76% | | | | | | | | | | | | |
AT&T Incorporated | | | | | | | 1,120,145 | | | | 38,230,549 | |
CenturyTel Incorporated « | | | | | | | 120,898 | | | | 4,695,678 | |
Frontier Communications Corporation « | | | | | | | 193,880 | | | | 932,563 | |
Verizon Communications Incorporated | | | | | | | 553,156 | | | | 24,405,243 | |
Windstream Corporation « | | | | | | | 114,169 | | | | 956,736 | |
| | | | |
| | | | | | | | | | | 69,220,769 | |
| | | | | | | | | | | | |
| | | | |
| 14 | | Wells Fargo Advantage Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Wireless Telecommunication Services: 0.31% | | | | | | | | | | | | |
Crown Castle International Corporation † | | | | | | | 56,898 | | | $ | 3,841,753 | |
MetroPCS Communications Incorporated † | | | | | | | 61,391 | | | | 653,814 | |
Sprint Nextel Corporation † | | | | | | | 582,572 | | | | 3,338,138 | |
| | | | |
| | | | | | | | | | | 7,833,705 | |
| | | | | | | | | | | | |
| | | | |
Utilities: 3.37% | | | | | | | | | | | | |
| | | | |
| Electric Utilities: 1.99% | | | | | | | | | | | | |
American Electric Power Company Incorporated | | | | | | | 94,152 | | | | 4,015,583 | |
Consolidated Edison Incorporated | | | | | | | 56,870 | | | | 3,172,777 | |
Duke Energy Corporation | | | | | | | 136,717 | | | | 8,725,279 | |
Edison International | | | | | | | 63,261 | | | | 2,877,110 | |
Entergy Corporation | | | | | | | 34,429 | | | | 2,187,619 | |
Exelon Corporation | | | | | | | 165,735 | | | | 5,008,512 | |
FirstEnergy Corporation « | | | | | | | 81,203 | | | | 3,447,879 | |
Nextera Energy Incorporated | | | | | | | 82,085 | | | | 5,640,060 | |
Northeast Utilities | | | | | | | 60,930 | | | | 2,360,428 | |
Pepco Holdings Incorporated « | | | | | | | 44,442 | | | | 877,285 | |
Pinnacle West Capital Corporation | | | | | | | 21,270 | | | | 1,094,554 | |
PPL Corporation | | | | | | | 112,759 | | | | 3,309,477 | |
The Southern Company « | | | | | | | 169,856 | | | | 7,397,229 | |
| | | | |
| | | | | | | | | | | 50,113,792 | |
| | | | | | | | | | | | |
| | | | |
| Gas Utilities: 0.11% | | | | | | | | | | | | |
AGL Resources Incorporated | | | | | | | 22,818 | | | | 889,446 | |
ONEOK Incorporated | | | | | | | 39,815 | | | | 1,786,499 | |
| | | | |
| | | | | | | | | | | 2,675,945 | |
| | | | | | | | | | | | |
| | | | |
| Independent Power Producers & Energy Traders: 0.09% | | | | | | | | | | | | |
AES Corporation | | | | | | | 120,546 | | | | 1,286,226 | |
NRG Energy Incorporated « | | | | | | | 44,240 | | | | 933,464 | |
| | | | |
| | | | | | | | | | | 2,219,690 | |
| | | | | | | | | | | | |
| | | | |
| Multi-Utilities: 1.18% | | | | | | | | | | | | |
Ameren Corporation | | | | | | | 47,112 | | | | 1,411,947 | |
CenterPoint Energy Incorporated | | | | | | | 82,984 | | | | 1,637,274 | |
CMS Energy Corporation | | | | | | | 51,452 | | | | 1,256,972 | |
Dominion Resources Incorporated | | | | | | | 111,326 | | | | 5,689,872 | |
DTE Energy Company | | | | | | | 33,349 | | | | 2,020,282 | |
Integrys Energy Group Incorporated « | | | | | | | 15,128 | | | | 804,356 | |
NiSource Incorporated | | | | | | | 60,144 | | | | 1,453,680 | |
PG&E Corporation | | | | | | | 82,805 | | | | 3,390,865 | |
Public Service Enterprise Group Incorporated | | | | | | | 98,235 | | | | 2,955,891 | |
SCANA Corporation « | | | | | | | 25,494 | | | | 1,181,392 | |
Sempra Energy | | | | | | | 43,645 | | | | 2,986,191 | |
TECO Energy Incorporated « | | | | | | | 39,530 | | | | 664,499 | |
Wisconsin Energy Corporation | | | | | | | 44,745 | | | | 1,679,280 | |
Xcel Energy Incorporated | | | | | | | 94,667 | | | | 2,560,740 | |
| | | | |
| | | | | | | | | | | 29,693,241 | |
| | | | | | | | | | | | |
| | | | |
Total Common Stocks (Cost $1,927,101,077) | | | | | | | | | | | 2,462,065,216 | |
| | | | | | | | | | | | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Index Portfolio | | | 15 | |
| | | | | | | | | | | | | | | | |
| Security name | | | | | | | | Shares | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Investment Companies: 0.10% | | | | | | | | | | | | | | | | |
SPDR S&P 500 ETF « | | | | | | | | | | | 16,917 | | | | 2,403,229 | |
| | | | |
Total Investment Companies (Cost $2,358,744) | | | | | | | | | | | | | | | 2,403,229 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | | | | | | Principal | | | | |
| Other: 0.05% | | | | | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (i)(a)(v) | | | | | | | | | | $ | 4,147,337 | | | | 1,368,621 | |
| | | | |
Total Other (Cost $392,952) | | | | | | | | | | | | | | | 1,368,621 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | Yield | | | | | | Shares | | | | |
| Short-Term Investments: 8.03% | | | | | | | | | | | | | | | | |
| | | | |
| Investment Companies: 7.90% | | | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund, Select Class (l)(u) | | | 0.16 | % | | | | | | | 39,179,893 | | | | 39,179,893 | |
Wells Fargo Securities Lending Cash Investments, LLC (v)(l)(u)(r) | | | 0.21 | | | | | | | | 159,290,071 | | | | 159,290,071 | |
| | | | |
| | | | | | | | | | | | | | | 198,469,964 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | | | Maturity date | | | Principal | | | | |
| U.S. Treasury Securities: 0.13% | | | | | | | | | | | | | | | | |
U.S. Treasury Bill #(z) | | | 0.05 | | | | 1-31-13 | | | $ | 2,000,000 | | | | 1,999,820 | |
U.S. Treasury Bill #(z) | | | 0.08 | | | | 2-21-13 | | | | 500,000 | | | | 499,911 | |
U.S. Treasury Bill #(z) | | | 0.09 | | | | 1-24-13 | | | | 750,000 | | | | 749,897 | |
| | | | |
| | | | | | | | | | | | | | | 3,249,628 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Short-Term Investments (Cost $201,719,510) | | | | | | | | | | | | | | | 201,719,592 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | |
| Total investments in securities | | | | | | | | |
| (Cost $2,131,572,283) * | | | 106.21 | % | | | 2,667,556,658 | |
Other assets and liabilities, net | | | (6.21 | ) | | | (156,053,926 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 2,511,502,732 | |
| | | | | | | | |
| | | | |
| 16 | | Wells Fargo Advantage Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| « | All or a portion of this security is on loan. |
| † | Non-income-earning security |
| (l) | Investment in an affiliate |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| # | All or a portion of this security is segregated as collateral for investments in derivative instruments. |
| (z) | Zero coupon security. Rate represents yield to maturity at time of purchase. |
| * | Cost for federal income tax purposes is $2,236,771,410 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 617,641,282 | |
Gross unrealized depreciation | | | (186,856,034 | ) |
| | | | |
Net unrealized appreciation | | $ | 430,785,248 | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage International Index Portfolio | | | 1 | |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
Common Stocks: 98.26% | | | | | | | | | | | | |
| | | | |
| Australia: 8.86% | | | | | | | | | | | | |
AGL Energy Limited (Utilities, Multi-Utilities) | | | | | | | 1,195 | | | $ | 17,921 | |
ALS Limited (Consumer Staples, Household Products) | | | | | | | 795 | | | | 7,882 | |
Alumina Limited (Materials, Metals & Mining) | | | | | | | 5,836 | | | | 5,786 | |
Amcor Limited (Materials, Containers & Packaging) | | | | | | | 2,538 | | | | 20,924 | |
AMP Limited (Financials, Insurance) | | | | | | | 6,073 | | | | 29,154 | |
APA Group (Utilities, Gas Utilities) | | | | | | | 1,419 | | | | 8,293 | |
Asciano Group (Industrials, Road & Rail) | | | | | | | 2,064 | | | | 9,370 | |
ASX Limited (Financials, Diversified Financial Services) | | | | | | | 380 | | | | 11,675 | |
Australia & New Zealand Banking Group Limited (Financials, Commercial Banks) | | | | | | | 5,621 | | | | 142,898 | |
Bendigo Bank Limited (Financials, Commercial Banks) | | | | | | | 718 | | | | 6,054 | |
BHP Billiton Limited (Materials, Metals & Mining) | | | | | | | 6,732 | | | | 241,607 | |
Boral Limited (Materials, Construction Materials) | | | | | | | 1,741 | | | | 7,304 | |
Brambles Limited (Industrials, Commercial Services & Supplies) | | | | | | | 3,252 | | | | 24,571 | |
Caltex Australia Limited (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 284 | | | | 5,418 | |
Centro Retail Australia (Financials, Real Estate Management & Development) | | | | | | | 2,252 | | | | 5,123 | |
CFS Retail Property Trust (Financials, REITs) | | | | | | | 4,181 | | | | 8,465 | |
Coca-Cola Amatil Limited (Consumer Staples, Beverages) | | | | | | | 1,246 | | | | 17,866 | |
Cochlear Limited (Health Care, Health Care Equipment & Supplies) | | | | | | | 129 | | | | 10,151 | |
Commonwealth Bank of Australia (Financials, Commercial Banks) | | | | | | | 3,324 | | | | 207,060 | |
Computershare Limited (Information Technology, IT Services) | | | | | | | 1,006 | | | | 9,134 | |
Crown Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 907 | | | | 9,702 | |
CSL Limited (Health Care, Biotechnology) | | | | | | | 1,057 | | | | 57,029 | |
Dexus Property Group (Financials, REITs) | | | | | | | 9,730 | | | | 10,205 | |
Echo Entertainment Group Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 1,738 | | | | 6,421 | |
Flight Centre Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 115 | | | | 3,239 | |
Fortescue Metals Group Limited (Materials, Metals & Mining) | | | | | | | 3,038 | | | | 12,396 | |
Goodman Group (Financials, REITs) | | | | | | | 3,061 | | | | 14,758 | |
GPT Group (Financials, REITs) | | | | | | | 2,748 | | | | 10,009 | |
Harvey Norman Holdings Limited (Consumer Discretionary, Multiline Retail) | | | | | | | 1,114 | | | | 2,098 | |
Iluka Resources Limited (Materials, Metals & Mining) | | | | | | | 969 | | | | 8,323 | |
Incitec Pivot Limited (Materials, Chemicals) | | | | | | | 3,532 | | | | 11,611 | |
Insurance Australia Group Limited (Financials, Insurance) | | | | | | | 4,495 | | | | 21,719 | |
Leighton Holdings Limited (Industrials, Construction & Engineering) | | | | | | | 343 | | | | 6,168 | |
Lend Lease Corporation Limited (Financials, Real Estate Management & Development) | | | | | | | 1,186 | | | | 10,644 | |
Macquarie Group Limited (Financials, Capital Markets) | | | | | | | 676 | | | | 23,111 | |
Metcash Limited (Consumer Staples, Food & Staples Retailing) | | | | | | | 1,950 | | | | 6,980 | |
Mirvac Group (Financials, REITs) | | | | | | | 7,412 | | | | 11,371 | |
National Australia Bank Limited (Financials, Commercial Banks) | | | | | | | 4,698 | | | | 119,139 | |
Newcrest Mining Limited (Materials, Metals & Mining) | | | | | | | 1,609 | | | | 43,070 | |
Orica Limited (Materials, Chemicals) | | | | | | | 773 | | | | 19,425 | |
Origin Energy Limited (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 2,292 | | | | 26,263 | |
OZ Minerals Limited (Materials, Metals & Mining) | | | | | | | 672 | | | | 5,155 | |
Qantas Airways Limited (Industrials, Airlines) † | | | | | | | 2,792 | | | | 3,861 | |
QBE Insurance Group Limited (Financials, Insurance) | | | | | | | 2,501 | | | | 28,554 | |
QR National Limited (Industrials, Road & Rail) | | | | | | | 3,730 | | | | 14,052 | |
Ramsay Health Care Limited (Health Care, Health Care Providers & Services) | | | | | | | 275 | | | | 7,628 | |
Rio Tinto Limited (Materials, Metals & Mining) | | | | | | | 922 | | | | 56,529 | |
Santos Limited (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 2,009 | | | | 23,356 | |
Shopping Centres Australasia Property Group (Financials, REITs) † | | | | | | | 521 | | | | 788 | |
| | | | |
| 2 | | Wells Fargo Advantage International Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Australia (continued) | | | | | | | | | | | | |
Sims Group Limited (Materials, Metals & Mining) | | | | | | | 397 | | | $ | 3,720 | |
Sonic Healthcare Limited (Health Care, Health Care Providers & Services) | | | | | | | 810 | | | | 11,361 | |
SP AusNet (Utilities, Electric Utilities) | | | | | | | 4,264 | | | | 4,717 | |
Stockland (Financials, REITs) | | | | | | | 4,763 | | | | 16,851 | |
SunCorp-Metway Limited (Financials, Insurance) | | | | | | | 2,699 | | | | 27,294 | |
Sydney Airport (Industrials, Transportation Infrastructure) | | | | | | | 389 | | | | 1,441 | |
Tabcorp Holdings Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 1,532 | | | | 4,477 | |
Tattersall’s Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 2,975 | | | | 9,097 | |
Telstra Corporation Limited (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 9,217 | | | | 41,457 | |
Toll Holdings Limited (Industrials, Air Freight & Logistics) | | | | | | | 1,429 | | | | 6,935 | |
Transurban Group (Industrials, Transportation Infrastructure) | | | | | | | 2,778 | | | | 18,004 | |
Treasury Wine Estates Limited (Consumer Staples, Beverages) | | | | | | | 1,353 | | | | 7,100 | |
Wesfarmers Limited (Consumer Staples, Food & Staples Retailing) | | | | | | | 2,101 | | | | 77,947 | |
Westfield Group (Financials, REITs) | | | | | | | 4,566 | | | | 49,652 | |
Westfield Retail Trust (Financials, REITs) | | | | | | | 6,141 | | | | 19,162 | |
Westpac Banking Corporation (Financials, Commercial Banks) | | | | | | | 6,378 | | | | 169,730 | |
Whitehaven Coal Limited (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 1,128 | | | | 3,496 | |
Woodside Petroleum Limited (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 1,395 | | | | 49,207 | |
Woolworths Limited (Consumer Staples, Food & Staples Retailing) | | | | | | | 2,569 | | | | 78,500 | |
WorleyParsons Limited (Energy, Energy Equipment & Services) | | | | | | | 449 | | | | 11,508 | |
| | | | |
| | | | | | | | | | | 1,981,916 | |
| | | | | | | | | | | | |
| | | | |
| Austria: 0.30% | | | | | | | | | | | | |
Andritz AG (Industrials, Machinery) | | | | | | | 165 | | | | 10,515 | |
Erste Bank Der Oesterreichischen Sparkassen AG (Financials, Commercial Banks) † | | | | | | | 480 | | | | 14,118 | |
IMMOEAST AG (Financials, REITs) †(a) | | | | | | | 2,181 | | | | 0 | |
IMMOFINANZ Immobilien Anlagen AG (Financials, REITs) | | | | | | | 1,946 | | | | 7,858 | |
OMV AG (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 332 | | | | 11,865 | |
Raiffeisen International Bank Holdings AG (Financials, Commercial Banks) | | | | | | | 103 | | | | 4,242 | |
Telekom Austria AG (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 501 | | | | 3,258 | |
Verbund – Oesterreichische Elektrizitaetswirtschafts AG (Utilities, Electric Utilities) | | | | | | | 178 | | | | 4,070 | |
Voestalpine AG (Materials, Metals & Mining) | | | | | | | 230 | | | | 7,426 | |
Wiener Staedtische Allgemeine Versicherung AG (Financials, Insurance) | | | | | | | 97 | | | | 4,605 | |
| | | | |
| | | | | | | | | | | 67,957 | |
| | | | | | | | | | | | |
| | | | |
| Belgium: 1.16% | | | | | | | | | | | | |
Ageas NV (Financials, Insurance) | | | | | | | 498 | | | | 13,310 | |
Ageas NV VVPR Strip (Financials, Insurance) † | | | | | | | 455 | | | | 1 | |
Anheuser-Busch InBev NV (Consumer Staples, Beverages) | | | | | | | 1,685 | | | | 147,680 | |
Anheuser-Busch InBev NV VVPR Strip (Consumer Staples, Beverages) † | | | | | | | 2,600 | | | | 3 | |
Belgacom SA (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 322 | | | | 9,460 | |
Colruyt SA (Consumer Staples, Food & Staples Retailing) | | | | | | | 159 | | | | 7,316 | |
Delhaize Group SA (Consumer Staples, Food & Staples Retailing) | | | | | | | 231 | | | | 8,541 | |
Groupe Bruxelles Lambert SA (Financials, Diversified Financial Services) | | | | | | | 175 | | | | 13,617 | |
KBC Groep NV (Financials, Commercial Banks) | | | | | | | 352 | | | | 10,605 | |
Solvay SA (Materials, Chemicals) | | | | | | | 129 | | | | 17,482 | |
Telenet Group Holding NV (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 120 | | | | 5,481 | |
UCB SA (Health Care, Pharmaceuticals) | | | | | | | 239 | | | | 13,566 | |
Umicore (Materials, Metals & Mining) | | | | | | | 249 | | | | 12,936 | |
| | | | |
| | | | | | | | | | | 259,998 | |
| | | | | | | | | | | | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage International Index Portfolio | | | 3 | |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Denmark: 1.17% | | | | | | | | | | | | |
A.P. Moller-Maersk A/S Class A (Industrials, Marine) | | | | | | | 1 | | | $ | 6,764 | |
A.P. Moller-Maersk A/S Class B (Industrials, Marine) | | | | | | | 3 | | | | 21,421 | |
Carlsberg A/S (Consumer Staples, Beverages) | | | | | | | 226 | | | | 22,004 | |
Coloplast A/S (Health Care, Health Care Equipment & Supplies) | | | | | | | 49 | | | | 11,438 | |
Danske Bank A/S (Financials, Commercial Banks) † | | | | | | | 1,414 | | | | 24,243 | |
DSV A/S (Industrials, Road & Rail) | | | | | | | 430 | | | | 10,150 | |
Novo Nordisk A/S Class B (Health Care, Pharmaceuticals) | | | | | | | 854 | | | | 135,626 | |
Novozymes A/S B Shares (Materials, Chemicals) | | | | | | | 517 | | | | 14,240 | |
TDC A/S (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 1,000 | | | | 6,818 | |
Trygvesta A/S (Financials, Insurance) | | | | | | | 62 | | | | 4,412 | |
William Demant Holding A/S (Health Care, Health Care Equipment & Supplies) † | | | | | | | 59 | | | | 4,793 | |
| | | | |
| | | | | | | | | | | 261,909 | |
| | | | | | | | | | | | |
| | | | |
| Finland: 0.79% | | | | | | | | | | | | |
Elisa Oyj (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 309 | | | | 6,563 | |
Fortum Oyj (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 958 | | | | 17,256 | |
Kesko Oyj (Consumer Staples, Food & Staples Retailing) | | | | | | | 102 | | | | 3,220 | |
Kone Oyj (Industrials, Machinery) | | | | | | | 327 | | | | 24,496 | |
Metso Oyj (Industrials, Machinery) | | | | | | | 268 | | | | 10,077 | |
Neste Oil Oyj Limited (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 314 | | | | 4,012 | |
Nokia Oyj (Telecommunication Services, Diversified Telecommunication Services) « | | | | | | | 7,831 | | | | 25,971 | |
Nokian Renkaat Oyj (Consumer Discretionary, Auto Components) | | | | | | | 235 | | | | 9,811 | |
Orion Oyj (Health Care, Pharmaceuticals) | | | | | | | 227 | | | | 6,079 | |
Pohjola Bank plc (Financials, Diversified Financial Services) | | | | | | | 293 | | | | 4,093 | |
Sampo Oyj (Financials, Insurance) | | | | | | | 887 | | | | 28,321 | |
Stora Enso Oyj (Materials, Paper & Forest Products) | | | | | | | 1,289 | | | | 8,441 | |
UPM-Kymmene Oyj (Materials, Paper & Forest Products) | | | | | | | 1,140 | | | | 12,825 | |
Wartsila Oyj (Industrials, Machinery) | | | | | | | 365 | | | | 15,395 | |
| | | | |
| | | | | | | | | | | 176,560 | |
| | | | | | | | | | | | |
| | | | |
| France: 9.05% | | | | | | | | | | | | |
Accor SA (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 313 | | | | 10,397 | |
Aeroports de Paris (Industrials, Transportation Infrastructure) | | | | | | | 71 | | | | 5,478 | |
Air Liquide SA (Materials, Chemicals) | | | | | | | 652 | | | | 79,632 | |
Alstom SA (Industrials, Machinery) | | | | | | | 449 | | | | 16,342 | |
Arkema SA (Industrials, Professional Services) | | | | | | | 131 | | | | 13,400 | |
Atos Origin SA (Information Technology, IT Services) | | | | | | | 122 | | | | 8,662 | |
AXA SA (Financials, Insurance) | | | | | | | 3,742 | | | | 61,490 | |
BNP Paribas SA (Financials, Commercial Banks) | | | | | | | 2,097 | | | | 117,122 | |
Bouygues SA (Industrials, Construction & Engineering) | | | | | | | 400 | | | | 9,876 | |
Bureau Veritas SA (Industrials, Commercial Services & Supplies) | | | | | | | 120 | | | | 13,314 | |
Cap Gemini SA (Information Technology, IT Services) | | | | | | | 323 | | | | 13,674 | |
Carrefour SA (Consumer Staples, Food & Staples Retailing) | | | | | | | 1,222 | | | | 30,172 | |
Casino Guichard Perrachon SA (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 117 | | | | 10,623 | |
Christian Dior SA (Consumer Discretionary, Textiles, Apparel & Luxury Goods) | | | | | | | 119 | | | | 19,230 | |
CNP Assurances (Financials, Insurance) | | | | | | | 314 | | | | 4,574 | |
Compagnie de Saint-Gobain (Industrials, Building Products) | | | | | | | 830 | | | | 33,118 | |
Compagnie Generale de Geophysique – Veritas (Energy, Energy Equipment & Services) † | | | | | | | 336 | | | | 10,247 | |
Compagnie Generale des Etablissements Michelin (Consumer Discretionary, Auto Components) | | | | | | | 381 | | | | 35,434 | |
Credit Agricole SA (Financials, Commercial Banks) † | | | | | | | 2,136 | | | | 16,193 | |
| | | | |
| 4 | | Wells Fargo Advantage International Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| France (continued) | | | | | | | | | | | | |
Dassault Systemes SA (Information Technology, Software) | | | | | | | 135 | | | $ | 15,275 | |
Edenred (Consumer Staples, Commercial Services & Supplies) | | | | | | | 367 | | | | 11,181 | |
Electricite de France SA (Utilities, Electric Utilities) | | | | | | | 509 | | | | 9,344 | |
Essilor International SA Cie Generale d’Optique (Health Care, Health Care Equipment & Supplies) | | | | | | | 426 | | | | 41,137 | |
Eurazeo (Financials, Diversified Financial Services) | | | | | | | 70 | | | | 3,351 | |
Eutelsat Communications SA (Consumer Discretionary, Media) | | | | | | | 299 | | | | 9,249 | |
Fonciere des Regions (Financials, REITs) | | | | | | | 58 | | | | 4,868 | |
France Telecom SA (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 3,924 | | | | 41,536 | |
GDF Suez (Utilities, Gas Utilities) | | | | | | | 2,671 | | | | 60,079 | |
GDF Suez VVPR Strip (Utilities, Gas Utilities) † | | | | | | | 1,701 | | | | 2 | |
Gecina SA (Financials, REITs) | | | | | | | 46 | | | | 5,085 | |
Groupe Danone SA (Consumer Staples, Food Products) | | | | | | | 1,208 | | | | 76,629 | |
Groupe Eurotunnel SA (Industrials, Transportation Infrastructure) | | | | | | | 1,224 | | | | 9,231 | |
ICADE (Financials, REITs) | | | | | | | 59 | | | | 5,329 | |
ILIAD SA (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 50 | | | | 8,896 | |
Imerys SA (Materials, Construction Materials) | | | | | | | 71 | | | | 4,217 | |
JC Decaux SA (Consumer Discretionary, Media) | | | | | | | 167 | | | | 3,778 | |
Klepierre (Financials, REITs) | | | | | | | 211 | | | | 8,090 | |
L’Oreal SA (Consumer Staples, Personal Products) | | | | | | | 510 | | | | 69,213 | |
Lafarge SA (Materials, Construction Materials) | | | | | | | 392 | | | | 22,773 | |
Lagardere SCA (Consumer Discretionary, Media) | | | | | | | 248 | | | | 7,465 | |
Legrand SA (Industrials, Electrical Equipment) | | | | | | | 476 | | | | 19,278 | |
LVMH Moet Hennessy Louis Vuitton SA (Consumer Discretionary, Textiles, Apparel & Luxury Goods) « | | | | | | | 531 | | | | 93,161 | |
Natixis (Financials, Commercial Banks) | | | | | | | 1,905 | | | | 6,102 | |
Pernod-Ricard SA (Consumer Staples, Beverages) | | | | | | | 448 | | | | 50,725 | |
Peugeot SA (Consumer Discretionary, Automobiles) † | | | | | | | 585 | | | | 3,589 | |
Pinault-Printempts-Redoute SA (Consumer Discretionary, Multiline Retail) | | | | | | | 159 | | | | 29,653 | |
Publicis Groupe SA (Consumer Discretionary, Media) | | | | | | | 344 | | | | 19,459 | |
Remy Cointreau SA (Consumer Staples, Beverages) | | | | | | | 47 | | | | 5,265 | |
Renault SA (Consumer Discretionary, Automobiles) | | | | | | | 416 | | | | 20,805 | |
Rexel SA (Industrials, Trading Companies & Distributors) | | | | | | | 269 | | | | 5,234 | |
Safran SA (Industrials, Aerospace & Defense) | | | | | | | 492 | | | | 20,150 | |
Sanofi-Aventis SA (Health Care, Pharmaceuticals) | | | | | | | 2,482 | | | | 221,632 | |
Schneider Electric SA (Industrials, Electrical Equipment) | | | | | | | 1,104 | | | | 77,591 | |
SCOR SE (Financials, Insurance) | | | | | | | 343 | | | | 9,058 | |
Societe BIC SA (Industrials, Commercial Services & Supplies) | | | | | | | 53 | | | | 6,624 | |
Societe Generale SA (Financials, Diversified Financial Services)† | | | | | | | 1,478 | | | | 53,447 | |
Sodexho Alliance SA (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 206 | | | | 16,635 | |
Suez Environnement SA (Utilities, Water Utilities) | | | | | | | 613 | | | | 6,681 | |
Technip SA (Energy, Energy Equipment & Services) | | | | | | | 211 | | | | 24,511 | |
Thales SA (Industrials, Aerospace & Defense) | | | | | | | 214 | | | | 7,697 | |
Total SA (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 4,441 | | | | 222,222 | |
Unibail-Rodamco SA (Financials, Real Estate Management & Development) | | | | | | | 194 | | | | 45,529 | |
Vallourec SA (Industrials, Machinery) | | | | | | | 216 | | | | 11,217 | |
Veolia Environnement SA (Utilities, Multi-Utilities) | | | | | | | 709 | | | | 7,709 | |
Vinci SA (Industrials, Construction & Engineering) | | | | | | | 974 | | | | 42,974 | |
Vivendi SA (Consumer Discretionary, Media) | | | | | | | 2,672 | | | | 57,408 | |
Wendel SA (Industrials, Industrial Conglomerates) | | | | | | | 72 | | | | 6,754 | |
Zodiac Aerospace SA (Industrials, Aerospace & Defense) | | | | | | | 71 | | | | 7,932 | |
| | | | |
| | | | | | | | | | | 2,024,748 | |
| | | | | | | | | | | | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage International Index Portfolio | | | 5 | |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Germany: 8.04% | | | | | | | | | | | | |
Adidas-Salomon AG (Consumer Discretionary, Textiles, Apparel & Luxury Goods) | | | | | | | 443 | | | $ | 38,959 | |
Allianz AG (Financials, Insurance) | | | | | | | 955 | | | | 124,141 | |
Axel Springer AG (Consumer Discretionary, Media) | | | | | | | 100 | | | | 4,356 | |
BASF SE (Materials, Chemicals) | | | | | | | 1,924 | | | | 172,406 | |
Bayer AG (Health Care, Pharmaceuticals) | | | | | | | 1,735 | | | | 156,936 | |
Bayerische Motoren Werke AG (Consumer Discretionary, Automobiles) | | | | | | | 701 | | | | 62,168 | |
Beiersdorf AG (Consumer Staples, Personal Products) | | | | | | | 220 | | | | 17,253 | |
Brenntag AG (Materials, Chemicals) | | | | | | | 109 | | | | 14,091 | |
Celesio AG (Health Care, Health Care Providers & Services) | | | | | | | 178 | | | | 3,023 | |
Commerzbank AG (Financials, Commercial Banks) † | | | | | | | 7,926 | | | | 14,236 | |
Continental AG (Consumer Discretionary, Auto Components) | | | | | | | 230 | | | | 25,456 | |
Daimler AG (Consumer Discretionary, Automobiles) | | | | | | | 1,895 | | | | 93,603 | |
Deutsche Bank AG (Financials, Commercial Banks) | | | | | | | 1,940 | | | | 85,633 | |
Deutsche Boerse AG (Financials, Capital Markets) | | | | | | | 418 | | | | 23,545 | |
Deutsche Lufthansa AG (Industrials, Airlines) | | | | | | | 499 | | | | 8,281 | |
Deutsche Post AG (Industrials, Air Freight & Logistics) | | | | | | | 1,791 | | | | 37,175 | |
Deutsche Telekom AG (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 5,945 | | | | 65,488 | |
E.ON AG (Utilities, Multi-Utilities) | | | | | | | 3,812 | | | | 68,664 | |
Fraport AG (Industrials, Transportation Infrastructure) | | | | | | | 92 | | | | 5,103 | |
Fresenius Medical Care AG & Company KGaA (Health Care, Health Care Providers & Services) | | | | | | | 442 | | | | 30,352 | |
Fresenius SE & Company KGaA (Health Care, Health Care Equipment & Supplies) | | | | | | | 262 | | | | 30,285 | |
GEA Group AG (Industrials, Machinery) | | | | | | | 379 | | | | 12,384 | |
Hannover Rueckversicherung AG (Financials, Insurance) | | | | | | | 136 | | | | 10,020 | |
Heidelbergcement AG (Materials, Construction Materials) | | | | | | | 307 | | | | 16,683 | |
Henkel KGaA (Consumer Staples, Household Products) | | | | | | | 280 | | | | 18,972 | |
Hochtief AG (Industrials, Construction & Engineering) † | | | | | | | 73 | | | | 3,896 | |
Hugo Boss AG (Consumer Discretionary, Textiles, Apparel & Luxury Goods) | | | | | | | 52 | | | | 5,454 | |
Infineon Technologies AG (Information Technology, Semiconductors & Semiconductor Equipment) | | | | | | | 2,369 | | | | 18,166 | |
K+S AG (Materials, Chemicals) | | | | | | | 372 | | | | 16,807 | |
Kabel Deutschland Holding AG (Consumer Discretionary, Media) | | | | | | | 193 | | | | 13,956 | |
LANXESS AG (Materials, Chemicals) | | | | | | | 178 | | | | 15,494 | |
Linde AG (Materials, Chemicals) | | | | | | | 387 | | | | 66,915 | |
MAN AG (Industrials, Machinery) | | | | | | | 96 | | | | 10,088 | |
Merck KGaA (Health Care, Pharmaceuticals) | | | | | | | 141 | | | | 18,860 | |
Metro AG (Consumer Staples, Food & Staples Retailing) | | | | | | | 293 | | | | 8,204 | |
Muenchener Rueckversicherungs-Gesellschaft AG (Financials, Insurance) | | | | | | | 379 | | | | 64,694 | |
RWE AG (Utilities, Multi-Utilities) | | | | | | | 1,036 | | | | 43,203 | |
Salzgitter AG (Materials, Metals & Mining) | | | | | | | 100 | | | | 4,610 | |
SAP AG (Information Technology, Software) | | | | | | | 1,932 | | | | 150,860 | |
Siemens AG (Industrials, Industrial Conglomerates) | | | | | | | 1,718 | | | | 177,184 | |
Suedzucker AG (Consumer Staples, Food Products) | | | | | | | 140 | | | | 5,515 | |
Thyssenkrupp AG (Industrials, Industrial Conglomerates) | | | | | | | 842 | | | | 17,050 | |
United Internet AG (Information Technology, Internet Software & Services) | | | | | | | 228 | | | | 5,111 | |
Volkswagen AG (Consumer Discretionary, Automobiles) | | | | | | | 62 | | | | 12,611 | |
| | | | |
| | | | | | | | | | | 1,797,891 | |
| | | | | | | | | | | | |
| | | | |
| Greece: 0.06% | | | | | | | | | | | | |
Coca-Cola Hellenic Bottling Company SA (Consumer Staples, Beverages) | | | | | | | 423 | | | | 9,836 | |
Opap SA (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 590 | | | | 3,837 | |
| | | | |
| | | | | | | | | | | 13,673 | |
| | | | | | | | | | | | |
| | | | |
| 6 | | Wells Fargo Advantage International Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Hong Kong: 3.23% | | | | | | | | | | | | |
AIA Group Limited (Financials, Insurance) | | | | | | | 22,600 | | | $ | 87,919 | |
ASM Pacific Technology (Information Technology, Semiconductors & Semiconductor Equipment) | | | | | | | 400 | | | | 4,686 | |
Bank of East Asia Limited (Financials, Commercial Banks) | | | | | | | 3,028 | | | | 11,682 | |
BOC Hong Kong Holdings Limited (Financials, Commercial Banks) | | | | | | | 8,000 | | | | 24,567 | |
Cathay Pacific Airways Limited (Industrials, Airlines) | | | | | | | 2,000 | | | | 3,515 | |
Cheung Kong Holdings Limited (Financials, Real Estate Management & Development) | | | | | | | 3,000 | | | | 45,792 | |
Cheung Kong Infrastructure Holdings Limited (Materials, Construction Materials) | | | | | | | 1,000 | | | | 6,110 | |
CLP Holdings Limited (Utilities, Electric Utilities) | | | | | | | 4,000 | | | | 35,070 | |
First Pacific Company Limited (Financials, Diversified Financial Services) | | | | | | | 4,000 | | | | 4,201 | |
Galaxy Entertainment Group Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) † | | | | | | | 4,000 | | | | 15,251 | |
Hang Lung Properties Limited (Financials, Real Estate Management & Development) | | | | | | | 5,000 | | | | 18,322 | |
Hang Seng Bank Limited (Financials, Commercial Banks) | | | | | | | 1,600 | | | | 24,443 | |
Henderson Land Development Company Limited (Financials, Real Estate Management & Development) | | | | | | | 2,213 | | | | 15,762 | |
HKT Trust and HKT Limited (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 5,000 | | | | 4,758 | |
Hong Kong & China Gas Company Limited (Utilities, Gas Utilities) | | | | | | | 10,623 | | | | 28,784 | |
Hong Kong Electric Holdings Limited (Utilities, Electric Utilities) | | | | | | | 3,000 | | | | 26,399 | |
Hong Kong Exchanges & Clearing Limited (Financials, Diversified Financial Services) | | | | | | | 2,148 | | | | 34,312 | |
Hopewell Holdings (Financials, Real Estate Management & Development) | | | | | | | 1,000 | | | | 3,942 | |
Hutchison Whampoa Limited (Industrials, Industrial Conglomerates) | | | | | | | 4,000 | | | | 41,134 | |
Hysan Development Company Limited (Financials, Real Estate Management & Development) | | | | | | | 893 | | | | 4,304 | |
Kerry Properties Limited (Financials, Real Estate Management & Development) | | | | | | | 1,476 | | | | 7,532 | |
Li & Fung Limited (Consumer Discretionary, Distributors) | | | | | | | 12,400 | | | | 20,415 | |
MGM China Holdings Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 2,381 | | | | 4,455 | |
MTR Corporation Limited (Industrials, Road & Rail) | | | | | | | 3,141 | | | | 12,543 | |
New World Development Limited (Financials, Real Estate Management & Development) | | | | | | | 7,370 | | | | 11,678 | |
Noble Group Limited (Industrials, Trading Companies & Distributors) | | | | | | | 8,104 | | | | 7,204 | |
NWS Holdings Limited (Industrials, Industrial Conglomerates) | | | | | | | 3,501 | | | | 5,710 | |
Orient Overseas International Limited (Industrials, Marine) | | | | | | | 200 | | | | 1,270 | |
PCCW Limited (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 9,977 | | | | 4,197 | |
Sands China Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 5,162 | | | | 22,013 | |
Shangri-La Asia Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 2,333 | | | | 4,515 | |
Sino Land Company (Financials, Real Estate Management & Development) | | | | | | | 7,100 | | | | 12,825 | |
SJM Holdings Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 4,000 | | | | 9,435 | |
Sun Hung Kai Properties Limited (Financials, Real Estate Management & Development) | | | | | | | 3,184 | | | | 46,588 | |
Swire Pacific Limited (Financials, Real Estate Management & Development) | | | | | | | 1,500 | | | | 18,387 | |
Swire Properties Limited (Financials, Real Estate Management & Development) | | | | | | | 2,400 | | | | 7,918 | |
The Link REIT (Financials, REITs) | | | | | | | 4,920 | | | | 26,694 | |
Wharf Holdings Limited (Financials, Real Estate Management & Development) | | | | | | | 3,625 | | | | 27,900 | |
Wheelock & Company (Financials, Real Estate Management & Development) | | | | | | | 2,000 | | | | 9,703 | |
Wing Hang Bank Limited (Financials, Commercial Banks) | | | | | | | 520 | | | | 5,207 | |
Wynn Macau Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 3,412 | | | | 9,751 | |
Yue Yuen Industrial Holdings Limited (Consumer Discretionary, Textiles, Apparel & Luxury Goods) | | | | | | | 1,500 | | | | 5,255 | |
| | | | |
| | | | | | | | | | | 722,148 | |
| | | | | | | | | | | | |
| | | | |
| Ireland: 0.29% | | | | | | | | | | | | |
CRH plc (Materials, Construction Materials) | | | | | | | 1,528 | | | | 27,921 | |
Elan Corporation plc (Health Care, Pharmaceuticals) † | | | | | | | 975 | | | | 9,789 | |
James Hardie Industries NV (Materials, Construction Materials) | | | | | | | 925 | | | | 8,775 | |
Kerry Group plc (Consumer Staples, Food Products) | | | | | | | 313 | | | | 16,399 | |
Ryanair Holdings plc ADR (Industrials, Airlines) | | | | | | | 81 | | | | 2,789 | |
| | | | |
| | | | | | | | | | | 65,673 | |
| | | | | | | | | | | | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage International Index Portfolio | | | 7 | |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Israel: 0.61% | | | | | | | | | | | | |
Bank Hapoalim Limited (Financials, Commercial Banks) † | | | | | | | 2,391 | | | $ | 9,852 | |
Bank Leumi Le-Israel (Financials, Commercial Banks) † | | | | | | | 2,651 | | | | 8,950 | |
Bezeq Israeli Telecommunication Corporation Limited (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 4,464 | | | | 5,490 | |
Delek Group Limited (Industrials, Industrial Conglomerates) | | | | | | | 12 | | | | 2,694 | |
Israel Chemicals Limited (Materials, Chemicals) | | | | | | | 966 | | | | 11,900 | |
Mellanox Technologies Limited (Information Technology, Semiconductors & Semiconductor Equipment) † | | | | | | | 81 | | | | 6,155 | |
Nice Systems Limited (Information Technology, Software) † | | | | | | | 124 | | | | 4,225 | |
Teva Pharmaceutical Industries Limited (Health Care, Pharmaceuticals) | | | | | | | 1,968 | | | | 79,954 | |
The Israel Corporation Limited (Materials, Chemicals) | | | | | | | 5 | | | | 3,447 | |
United Mizrahi Bank Limited (Financials, Commercial Banks) † | | | | | | | 260 | | | | 2,532 | |
| | | | |
| | | | | | | | | | | 135,199 | |
| | | | | | | | | | | | |
| | | | |
| Italy: 2.16% | | | | | | | | | | | | |
Assicurazioni Generali SpA (Financials, Insurance) | | | | | | | 2,471 | | | | 41,456 | |
Atlantia SpA (Industrials, Transportation Infrastructure) | | | | | | | 700 | | | | 11,953 | |
Banca Monte Dei Paschi di Siena SpA (Financials, Commercial Banks) †« | | | | | | | 11,841 | | | | 3,125 | |
Banco Popolare SpA (Financials, Commercial Banks) † | | | | | | | 3,844 | | | | 5,664 | |
Enel Green Power SpA (Utilities, Multi-Utilities) | | | | | | | 3,815 | | | | 6,510 | |
Enel SpA (Utilities, Multi-Utilities) | | | | | | | 13,931 | | | | 52,796 | |
ENI SpA (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 5,328 | | | | 125,975 | |
Exor SpA (Financials, Diversified Financial Services) | | | | | | | 157 | | | | 3,884 | |
Fiat Industrial SpA (Consumer Discretionary, Auto Components) | | | | | | | 1,849 | | | | 19,767 | |
Fiat SpA (Consumer Discretionary, Automobiles) † | | | | | | | 1,981 | | | | 9,172 | |
Finmeccanica SpA (Industrials, Aerospace & Defense) † | | | | | | | 846 | | | | 4,447 | |
Intesa Sanpaolo SpA (Financials, Commercial Banks) | | | | | | | 21,325 | | | | 35,888 | |
Intesa Sanpaolo SpA Di Risparmio (Financials, Commercial Banks) | | | | | | | 2,051 | | | | 2,801 | |
Luxottica Group SpA (Consumer Discretionary, Textiles, Apparel & Luxury Goods) | | | | | | | 344 | | | | 14,115 | |
Mediobanca SpA (Financials, Capital Markets) | | | | | | | 1,126 | | | | 6,227 | |
Pirelli & Company SpA (Consumer Discretionary, Auto Components) | | | | | | | 418 | | | | 4,849 | |
Prysmian SpA (Industrials, Electrical Equipment) | | | | | | | 427 | | | | 8,075 | |
Saipem SpA (Energy, Energy Equipment & Services) | | | | | | | 554 | | | | 24,663 | |
Snam Rete Gas SpA (Utilities, Gas Utilities) | | | | | | | 3,547 | | | | 15,684 | |
Telecom Italia SpA (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 19,702 | | | | 17,949 | |
Telecom Italia SpA Di Risparmio (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 13,640 | | | | 10,883 | |
Terna SpA (Utilities, Electric Utilities) « | | | | | | | 2,765 | | | | 10,508 | |
Unicredit SpA (Financials, Commercial Banks) † | | | | | | | 8,574 | | | | 39,920 | |
Unione di Banche SpA (Financials, Commercial Banks) | | | | | | | 1,797 | | | | 7,021 | |
| | | | |
| | | | | | | | | | | 483,332 | |
| | | | | | | | | | | | |
| | | | |
| Japan: 18.92% | | | | | | | | | | | | |
Advantest Corporation (Information Technology, Semiconductors & Semiconductor Equipment) | | | | | | | 300 | | | | 4,003 | |
Aeon Company Limited (Consumer Staples, Food & Staples Retailing) | | | | | | | 1,300 | | | | 14,540 | |
Aeon Credit Service Company Limited (Financials, Consumer Finance) | | | | | | | 100 | | | | 1,954 | |
Aeon Mall Company Limited (Financials, Real Estate Management & Development) | | | | | | | 200 | | | | 5,168 | |
Aisin Seiki Company Limited (Consumer Discretionary, Auto Components) | | | | | | | 400 | | | | 11,820 | |
Ajinomoto Company Incorporated (Consumer Staples, Food Products) | | | | | | | 1,000 | | | | 14,302 | |
Alfresa Holdings Corporation (Health Care, Health Care Providers & Services) | | | | | | | 100 | | | | 4,197 | |
All Nippon Airways Company Limited (Industrials, Airlines) | | | | | | | 2,000 | | | | 4,294 | |
Amada Company Limited (Industrials, Machinery) | | | | | | | 1,000 | | | | 5,701 | |
| | | | |
| 8 | | Wells Fargo Advantage International Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Japan (continued) | | | | | | | | | | | | |
Aozora Bank Limited (Financials, Commercial Banks) | | | | | | | 1,000 | | | $ | 3,081 | |
Asahi Breweries Limited (Consumer Staples, Beverages) | | | | | | | 800 | | | | 17,983 | |
Asahi Glass Company Limited (Industrials, Building Products) | | | | | | | 2,000 | | | | 15,236 | |
Asahi Kasei Corporation (Materials, Chemicals) | | | | | | | 3,000 | | | | 17,104 | |
ASICS Corporation (Consumer Discretionary, Textiles, Apparel & Luxury Goods) | | | | | | | 300 | | | | 4,418 | |
Astellas Pharma Incorporated (Health Care, Pharmaceuticals) | | | | | | | 900 | | | | 45,527 | |
Bank of Kyoto Limited (Financials, Commercial Banks) | | | | | | | 1,000 | | | | 8,528 | |
Bank of Yokohama Limited (Financials, Commercial Banks) | | | | | | | 3,000 | | | | 14,229 | |
Benesse Corporation (Consumer Discretionary, Diversified Consumer Services) | | | | | | | 100 | | | | 4,367 | |
Bridgestone Corporation (Consumer Discretionary, Auto Components) | | | | | | | 1,400 | | | | 33,779 | |
Brother Industries Limited (Information Technology, Office Electronics) | | | | | | | 500 | | | | 4,846 | |
Canon Incorporated (Information Technology, Office Electronics) | | | | | | | 2,300 | | | | 80,438 | |
Casio Computer Company Limited (Consumer Discretionary, Household Durables) | | | | | | | 500 | | | | 3,742 | |
Central Japan Railway Company (Industrials, Road & Rail) | | | | | | | 300 | | | | 23,764 | |
Chiba Bank Limited (Financials, Commercial Banks) | | | | | | | 2,000 | | | | 11,937 | |
Chubu Electric Power Company Incorporated (Utilities, Electric Utilities) | | | | | | | 1,400 | | | | 18,919 | |
Chugai Pharmaceutical Company Limited (Health Care, Pharmaceuticals) | | | | | | | 500 | | | | 9,911 | |
Citizen Holdings Company Limited (Information Technology, Electronic Equipment, Instruments & Components) | | | | | | | 600 | | | | 2,999 | |
Coca-Cola West Japan Company Limited (Consumer Staples, Beverages) | | | | | | | 100 | | | | 1,553 | |
Cosmo Oil Company Limited (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 1,000 | | | | 1,941 | |
Credit Saison Company Limited (Financials, Consumer Finance) | | | | | | | 300 | | | | 6,667 | |
Dai Ichi Mutual Life Insurance (Financials, Insurance) | | | | | | | 18 | | | | 20,394 | |
Dai Nippon Printing Company Limited (Industrials, Commercial Services & Supplies) | | | | | | | 1,000 | | | | 7,485 | |
Daicel Chemical Industries Limited (Materials, Chemicals) | | | | | | | 1,000 | | | | 6,090 | |
Daiichi Sankyo Company Limited (Health Care, Pharmaceuticals) | | | | | | | 1,400 | | | | 21,602 | |
Daikin Industries Limited (Industrials, Building Products) | | | | | | | 500 | | | | 15,721 | |
Dainippon Sumitomo Pharma Company Limited (Health Care, Pharmaceuticals) | | | | | | | 400 | | | | 4,707 | |
Daito Trust Construction Company Limited (Financials, Real Estate Management & Development) | | | | | | | 200 | | | | 19,385 | |
Daiwa House Industry Company Limited (Financials, Real Estate Management & Development) | | | | | | | 1,000 | | | | 15,285 | |
Daiwa Securities Group Incorporated (Financials, Capital Markets) | | | | | | | 3,000 | | | | 13,283 | |
Dena Company Limited (Consumer Discretionary, Internet & Catalog Retail) | | | | | | | 200 | | | | 7,339 | |
Denki Kagaku Kogyo Kabushiki Kaisha (Materials, Chemicals) | | | | | | | 1,000 | | | | 3,263 | |
Denso Corporation (Consumer Discretionary, Auto Components) | | | | | | | 1,000 | | | | 32,862 | |
Dentsu Incorporated (Consumer Discretionary, Media) | | | | | | | 400 | | | | 9,782 | |
Don Quijote Company Limited (Consumer Discretionary, Multiline Retail) | | | | | | | 100 | | | | 3,887 | |
East Japan Railway Company (Industrials, Road & Rail) | | | | | | | 700 | | | | 45,939 | |
Eisai Company Limited (Health Care, Pharmaceuticals) | | | | | | | 500 | | | | 20,986 | |
Electric Power Development Company (Utilities, Independent Power Producers & Energy Traders) | | | | | | | 280 | | | | 7,089 | |
FamilyMart Company Limited (Consumer Staples, Food & Staples Retailing) | | | | | | | 100 | | | | 4,434 | |
FANUC Limited (Industrials, Machinery) | | | | | | | 400 | | | | 67,447 | |
Fast Retailing Company Limited (Consumer Discretionary, Specialty Retail) | | | | | | | 100 | | | | 22,709 | |
Fuji Electric Holdings Company Limited (Industrials, Electrical Equipment) | | | | | | | 1,000 | | | | 2,135 | |
Fuji Heavy Industries Limited (Consumer Discretionary, Automobiles) | | | | | | | 1,000 | | | | 11,221 | |
Fujifilm Holdings Corporation (Information Technology, Electronic Equipment, Instruments & Components) | | | | | | | 1,000 | | | | 18,330 | |
Fujitsu Limited (Information Technology, Computers & Peripherals) | | | | | | | 4,000 | | | | 15,139 | |
Fukuoka Financial Group Incorporated (Financials, Commercial Banks) | | | | | | | 2,000 | | | | 7,885 | |
Furukawa Electric Company Limited (Industrials, Electrical Equipment) † | | | | | | | 1,000 | | | | 1,905 | |
Gree Incorporated (Information Technology, Internet Software & Services) | | | | | | | 200 | | | | 3,477 | |
GS Yuasa Corporation (Industrials, Electrical Equipment) | | | | | | | 1,000 | | | | 3,870 | |
Gunma Bank Limited (Financials, Commercial Banks) | | | | | | | 1,000 | | | | 4,804 | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage International Index Portfolio | | | 9 | |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Japan (continued) | | | | | | | | | | | | |
Hakuhodo DY Holdings Incorporated (Consumer Discretionary, Media) | | | | | | | 60 | | | $ | 3,836 | |
Hamamatsu Photonics (Information Technology, Electronic Equipment, Instruments & Components) | | | | | | | 100 | | | | 3,524 | |
Hankyu Hanshin Holdings Incorporated (Industrials, Transportation Infrastructure) | | | | | | | 2,000 | | | | 10,554 | |
Hino Motors Limited (Industrials, Machinery) | | | | | | | 1,000 | | | | 8,586 | |
Hirose Electric Company Limited (Information Technology, Electronic Equipment, Instruments & Components) | | | | | | | 100 | | | | 11,379 | |
Hisamitsu Pharmaceutical Company Incorporated (Health Care, Pharmaceuticals) | | | | | | | 100 | | | | 5,204 | |
Hitachi Chemical Company Limited (Materials, Chemicals) | | | | | | | 200 | | | | 2,858 | |
Hitachi Construction Machinery Company Limited (Industrials, Machinery) | | | | | | | 200 | | | | 3,501 | |
Hitachi High-Technologies Corporation (Information Technology, Semiconductors & Semiconductor Equipment) | | | | | | | 100 | | | | 2,221 | |
Hitachi Limited (Industrials, Industrial Conglomerates) | | | | | | | 10,000 | | | | 57,742 | |
Hokkaido Electric Power Company Incorporated (Utilities, Electric Utilities) | | | | | | | 400 | | | | 3,955 | |
Hokuriku Electric Power Company (Utilities, Electric Utilities) | | | | | | | 400 | | | | 4,430 | |
Honda Motor Company Limited (Consumer Discretionary, Automobiles) | | | | | | | 3,400 | | | | 112,680 | |
Hoya Corporation (Information Technology, Electronic Equipment, Instruments & Components) | | | | | | | 900 | | | | 17,283 | |
Ibiden Company Limited (Information Technology, Electronic Equipment, Instruments & Components) | | | | | | | 300 | | | | 4,105 | |
Inpex Holdings Incorporated (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 5 | | | | 26,809 | |
Isetan Mitsukoshi Holdings Limited (Consumer Discretionary, Multiline Retail) | | | | | | | 760 | | | | 6,767 | |
Ishikawajima-Harima Heavy Industries Company Limited (Industrials, Machinery) | | | | | | | 3,000 | | | | 6,660 | |
Isuzu Motors Limited (Consumer Discretionary, Automobiles) | | | | | | | 2,000 | | | | 11,718 | |
Itochu Corporation (Industrials, Trading Companies & Distributors) | | | | | | | 3,200 | | | | 31,986 | |
J Front Retailing Company Limited (Consumer Discretionary, Multiline Retail) | | | | | | | 800 | | | | 3,862 | |
Japan Prime Real Estate Investment Corporation (Financials, REITs) | | | | | | | 1 | | | | 9,826 | |
Japan Prime Realty Investment Corporation (Financials, REITs) | | | | | | | 2 | | | | 5,915 | |
Japan Retail Fund Investment Corporation (Financials, REITs) | | | | | | | 4 | | | | 7,278 | |
Japan Steel Works (Industrials, Machinery) | | | | | | | 1,000 | | | | 5,507 | |
Japan Tobacco Incorporated (Consumer Staples, Tobacco) | | | | | | | 1,800 | | | | 53,933 | |
JFE Holdings Incorporated (Materials, Metals & Mining) | | | | | | | 1,000 | | | | 15,491 | |
Joyo Bank Limited (Financials, Commercial Banks) | | | | | | | 1,000 | | | | 4,877 | |
JS Group Corporation (Industrials, Building Products) | | | | | | | 600 | | | | 12,708 | |
JSR Corporation (Materials, Chemicals) | | | | | | | 400 | | | | 7,395 | |
JTEKT Corporation (Industrials, Machinery) | | | | | | | 500 | | | | 4,040 | |
Jupiter Telecommunications Company Limited (Consumer Discretionary, Media) | | | | | | | 5 | | | | 6,538 | |
JX Holdings Incorporated (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 4,700 | | | | 25,086 | |
Kajima Corporation (Industrials, Construction & Engineering) | | | | | | | 2,000 | | | | 5,750 | |
Kansai Electric Power Company Incorporated (Utilities, Electric Utilities) | | | | | | | 1,600 | | | | 15,217 | |
Kao Corporation (Consumer Staples, Personal Products) | | | | | | | 1,100 | | | | 30,197 | |
Kawasaki Heavy Industries Limited (Industrials, Machinery) | | | | | | | 3,000 | | | | 6,951 | |
KDDI Corporation (Telecommunication Services, Wireless Telecommunication Services) | | | | | | | 600 | | | | 44,399 | |
Keihin Electric Express Railway Company Limited (Industrials, Road & Rail) | | | | | | | 1,000 | | | | 9,183 | |
Keio Corporation (Industrials, Road & Rail) | | | | | | | 1,000 | | | | 7,327 | |
Keisei Electric Railway Company Limited (Industrials, Road & Rail) | | | | | | | 1,000 | | | | 8,443 | |
Keyence Corporation (Information Technology, Electronic Equipment, Instruments & Components) | | | | | | | 100 | | | | 27,925 | |
Kintetsu Corporation (Industrials, Road & Rail) | | | | | | | 3,000 | | | | 11,937 | |
Kirin Brewery Company Limited (Consumer Staples, Beverages) | | | | | | | 2,000 | | | | 24,528 | |
Kobe Steel Limited (Materials, Metals & Mining) | | | | | | | 6,000 | | | | 5,604 | |
Komatsu Limited (Industrials, Machinery) | | | | | | | 1,900 | | | | 42,571 | |
Konami Corporation (Information Technology, Software) | | | | | | | 200 | | | | 4,826 | |
Konica Minolta Holdings Incorporated (Information Technology, Office Electronics) | | | | | | | 1,000 | | | | 7,133 | |
Kubota Corporation (Industrials, Machinery) | | | | | | | 2,000 | | | | 21,229 | |
Kuraray Company Limited (Materials, Chemicals) | | | | | | | 700 | | | | 8,619 | |
| | | | |
| 10 | | Wells Fargo Advantage International Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Japan (continued) | | | | | | | | | | | | |
Kurita Water Industries Limited (Industrials, Machinery) | | | | | | | 200 | | | $ | 4,355 | |
Kyocera Corporation (Information Technology, Electronic Equipment, Instruments & Components) | | | | | | | 300 | | | | 27,622 | |
Kyowa Hakko Kogyo Company Limited (Health Care, Pharmaceuticals) | | | | | | | 1,000 | | | | 10,202 | |
Kyushu Electric Power Company Incorporated (Utilities, Electric Utilities) | | | | | | | 900 | | | | 8,428 | |
Lawson Incorporated (Consumer Staples, Food & Staples Retailing) | | | | | | | 100 | | | | 6,769 | |
Makita Corporation (Industrials, Machinery) | | | | | | | 200 | | | | 8,431 | |
Marubeni Corporation (Industrials, Trading Companies & Distributors) | | | | | | | 3,000 | | | | 19,761 | |
Marui Company Limited (Consumer Discretionary, Multiline Retail) | | | | | | | 500 | | | | 3,378 | |
Maruichi Steel Tube Limited (Materials, Metals & Mining) | | | | | | | 100 | | | | 2,159 | |
Matsushita Electric Industrial Company Limited (Information Technology, Electronic Equipment, Instruments & Components) | | | 4,600 | | | | 22,488 | |
Mazda Motor Corporation (Consumer Discretionary, Automobiles) † | | | | | | | 6,000 | | | | 9,462 | |
McDonald’s Holdings Company Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 100 | | | | 2,851 | |
Mediceo Paltac Holdings Company Limited (Health Care, Health Care Providers & Services) | | | | | | | 300 | | | | 3,548 | |
Meiji Holdings Company Limited (Consumer Staples, Food Products) | | | | | | | 100 | | | | 4,446 | |
Millea Holdings Incorporated (Financials, Insurance) | | | | | | | 1,400 | | | | 35,902 | |
Miraca Holdings Incorporated (Health Care, Health Care Providers & Services) | | | | | | | 100 | | | | 4,058 | |
Mitsubishi Chemical Holdings Corporation (Materials, Chemicals) | | | | | | | 3,000 | | | | 13,101 | |
Mitsubishi Corporation (Industrials, Trading Companies & Distributors) | | | | | | | 2,900 | | | | 54,915 | |
Mitsubishi Electric Corporation (Industrials, Electrical Equipment) | | | | | | | 4,000 | | | | 31,152 | |
Mitsubishi Estate Company Limited (Financials, Real Estate Management & Development) | | | | | | | 3,000 | | | | 57,827 | |
Mitsubishi Gas Chemical Company Incorporated (Materials, Chemicals) | | | | | | | 1,000 | | | | 5,896 | |
Mitsubishi Heavy Industries Limited (Industrials, Machinery) | | | | | | | 6,000 | | | | 27,877 | |
Mitsubishi Materials Corporation (Materials, Metals & Mining) | | | | | | | 2,000 | | | | 5,701 | |
Mitsubishi Motors Corporation (Consumer Discretionary, Automobiles) † | | | | | | | 9,000 | | | | 8,407 | |
Mitsubishi UFJ Financial Group Incorporated (Financials, Commercial Banks) | | | | | | | 26,670 | | | | 121,970 | |
Mitsubishi UFJ Securities Company Limited (Financials, Diversified Financial Services) | | | | | | | 130 | | | | 5,661 | |
Mitsui & Company Limited (Industrials, Trading Companies & Distributors) | | | | | | | 3,600 | | | | 49,741 | |
Mitsui Chemicals Incorporated (Materials, Chemicals) | | | | | | | 2,000 | | | | 4,513 | |
Mitsui Fudosan Company Limited (Financials, Real Estate Management & Development) | | | | | | | 2,000 | | | | 41,706 | |
Mitsui OSK Lines Limited (Industrials, Marine) | | | | | | | 2,000 | | | | 5,022 | |
Mitsui Sumitomo Insurance Group Holdings Incorporated (Financials, Insurance) | | | | | | | 1,100 | | | | 19,082 | |
Mizuho Financial Group Incorporated (Financials, Commercial Banks) | | | | | | | 47,700 | | | | 76,380 | |
Murata Manufacturing Company Limited (Information Technology, Electronic Equipment, Instruments & Components) | | | 400 | | | | 22,660 | |
Nabtesco Corporation (Industrials, Machinery) | | | | | | | 200 | | | | 3,967 | |
Namco Bandai Holdings Incorporated (Consumer Discretionary, Leisure Equipment & Products) | | | | | | | 400 | | | | 5,614 | |
NEC Corporation (Information Technology, Computers & Peripherals) † | | | | | | | 5,000 | | | | 8,734 | |
Nexon Company Limited (Information Technology, Software) † | | | | | | | 200 | | | | 2,242 | |
NGK Insulators Limited (Industrials, Electrical Equipment) | | | | | | | 1,000 | | | | 10,699 | |
NHK Spring Company Limited (Consumer Discretionary, Auto Components) | | | | | | | 400 | | | | 3,348 | |
Nidec Corporation (Industrials, Electrical Equipment) | | | | | | | 200 | | | | 12,131 | |
Nikon Corporation (Consumer Discretionary, Leisure Equipment & Products) | | | | | | | 700 | | | | 19,395 | |
Nintendo Company Limited (Information Technology, Software) | | | | | | | 200 | | | | 23,970 | |
Nippon Building Fund Incorporated (Financials, REITs) | | | | | | | 1 | | | | 10,469 | |
Nippon Electric Glass Company Limited (Information Technology, Electronic Equipment, Instruments & Components) | | | | | | | 1,000 | | | | 5,701 | |
Nippon Express Company Limited (Industrials, Road & Rail) | | | | | | | 2,000 | | | | 7,181 | |
Nippon Paper Group Incorporated (Materials, Paper & Forest Products) | | | | | | | 200 | | | | 2,450 | |
Nippon Steel Corporation (Materials, Metals & Mining) | | | | | | | 16,000 | | | | 36,683 | |
Nippon Telegraph & Telephone Corporation (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 900 | | | | 40,232 | |
Nippon Yusen Kabushiki Kaisha (Industrials, Marine) | | | | | | | 3,000 | | | | 6,369 | |
Nishi-Nippon City Bank Limited (Financials, Commercial Banks) | | | | | | | 1,000 | | | | 2,402 | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage International Index Portfolio | | | 11 | |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Japan (continued) | | | | | | | | | | | | |
Nissan Motor Company Limited (Consumer Discretionary, Automobiles) | | | | | | | 5,200 | | | $ | 50,401 | |
Nisshin Seifun Group Incorporated (Consumer Staples, Food Products) | | | | | | | 500 | | | | 6,393 | |
Nissin Food Products Company Limited (Consumer Staples, Food Products) | | | | | | | 100 | | | | 3,943 | |
Nitori Company Limited (Consumer Discretionary, Specialty Retail) | | | | | | | 50 | | | | 3,718 | |
Nitto Denko Corporation (Materials, Chemicals) | | | | | | | 300 | | | | 15,631 | |
NKSJ Holdings Incorporated (Financials, Insurance) | | | | | | | 800 | | | | 15,168 | |
NOK Corporation (Consumer Discretionary, Auto Components) | | | | | | | 200 | | | | 3,059 | |
Nomura Holdings Incorporated (Financials, Capital Markets) | | | | | | | 7,600 | | | | 31,438 | |
Nomura Real Estate Holding Incorporated (Financials, Real Estate Management & Development) | | | | | | | 200 | | | | 3,455 | |
Nomura Real Estate Office Fund (Financials, REITs) | | | | | | | 1 | | | | 5,985 | |
Nomura Research Institute Limited (Information Technology, IT Services) | | | | | | | 200 | | | | 3,860 | |
NSK Limited (Industrials, Machinery) | | | | | | | 1,000 | | | | 5,944 | |
NTT Data Corporation (Information Technology, IT Services) | | | | | | | 3 | | | | 8,690 | |
NTT DoCoMo Incorporated (Telecommunication Services, Wireless Telecommunication Services) | | | | | | | 32 | | | | 46,155 | |
NTT Urban Development Corporation (Financials, Real Estate Management & Development) | | | | | | | 3 | | | | 2,540 | |
Obayashi Corporation (Industrials, Construction & Engineering) | | | | | | | 1,000 | | | | 4,719 | |
Odakyu Electric Railway Company Limited (Industrials, Road & Rail) | | | | | | | 1,000 | | | | 10,202 | |
OJI Paper Company Limited (Materials, Paper & Forest Products) | | | | | | | 2,000 | | | | 6,308 | |
Olympus Corporation (Health Care, Health Care Equipment & Supplies) † | | | | | | | 500 | | | | 8,340 | |
Omron Corporation (Information Technology, Electronic Equipment, Instruments & Components) | | | | | | | 400 | | | | 8,865 | |
Ono Pharmaceutical Company Limited (Health Care, Pharmaceuticals) | | | | | | | 200 | | | | 10,954 | |
Oracle Corporation Japan (Information Technology, Software) | | | | | | | 100 | | | | 4,197 | |
Oriental Land Company Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 100 | | | | 12,871 | |
ORIX Corporation (Financials, Consumer Finance) | | | | | | | 220 | | | | 22,071 | |
Osaka Gas Company Limited (Utilities, Gas Utilities) | | | | | | | 4,000 | | | | 15,721 | |
Otsuka Holdings Company Limited (Health Care, Health Care Providers & Services) | | | | | | | 800 | | | | 23,747 | |
Park24 Company Limited (Industrials, Commercial Services & Supplies) | | | | | | | 200 | | | | 3,376 | |
Rakuten Incorporated (Consumer Discretionary, Internet & Catalog Retail) | | | | | | | 1,508 | | | | 12,714 | |
Resona Holdings Incorporated (Financials, Commercial Banks) | | | | | | | 4,100 | | | | 17,159 | |
Ricoh Company Limited (Information Technology, Office Electronics) | | | | | | | 1,000 | | | | 9,280 | |
Rinnai Corporation (Consumer Discretionary, Household Durables) | | | | | | | 100 | | | | 6,963 | |
Rohm Company Limited (Information Technology, Semiconductors & Semiconductor Equipment) | | | | | | | 200 | | | | 5,699 | |
Sankyo Company Limited (Consumer Discretionary, Leisure Equipment & Products) | | | | | | | 100 | | | | 4,094 | |
Sanrio Company Limited (Consumer Discretionary, Specialty Retail) « | | | | | | | 100 | | | | 3,577 | |
Santen Pharmaceutical Company Limited (Health Care, Pharmaceuticals) | | | | | | | 100 | | | | 4,288 | |
SBI Holdings Incorporated (Financials, Capital Markets) | | | | | | | 559 | | | | 4,170 | |
Secom Company Limited (Industrials, Commercial Services & Supplies) | | | | | | | 400 | | | | 20,477 | |
Sega Sammy Holdings Incorporated (Consumer Discretionary, Leisure Equipment & Products) | | | | | | | 400 | | | | 6,657 | |
Sekisui Chemical Company Limited (Consumer Discretionary, Household Durables) | | | | | | | 1,000 | | | | 7,836 | |
Sekisui House Limited (Consumer Discretionary, Household Durables) | | | | | | | 1,000 | | | | 9,377 | |
Seven & I Holdings Company Limited (Consumer Staples, Food & Staples Retailing) | | | | | | | 1,620 | | | | 47,204 | |
Seven Bank Limited (Financials, Commercial Banks) | | | | | | | 800 | | | | 2,086 | |
Sharp Corporation (Consumer Discretionary, Household Durables) | | | | | | | 2,200 | | | | 4,590 | |
Shikoku Electric Power Company Incorporated (Utilities, Electric Utilities) | | | | | | | 400 | | | | 5,439 | |
Shimano Incorporated (Consumer Discretionary, Leisure Equipment & Products) | | | | | | | 200 | | | | 13,223 | |
Shimizu Corporation (Industrials, Construction & Engineering) | | | | | | | 1,000 | | | | 3,008 | |
Shin-Etsu Chemical Company Limited (Materials, Chemicals) | | | | | | | 900 | | | | 52,951 | |
Shinsei Bank Limited (Financials, Commercial Banks) | | | | | | | 3,000 | | | | 5,095 | |
Shionogi & Company Limited (Health Care, Pharmaceuticals) | | | | | | | 600 | | | | 10,161 | |
Shiseido Company Limited (Consumer Staples, Personal Products) | | | | | | | 800 | | | | 11,597 | |
| | | | |
| 12 | | Wells Fargo Advantage International Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Japan (continued) | | | | | | | | | | | | |
Shizuoka Bank Limited (Financials, Commercial Banks) | | | | | | | 1,000 | | | $ | 9,887 | |
Shoei Company Limited (Financials, Real Estate Management & Development) | | | | | | | 500 | | | | 3,341 | |
Showa Denko KK (Materials, Chemicals) | | | | | | | 3,000 | | | | 4,331 | |
Showa Shell Sekiyu KK (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 500 | | | | 2,911 | |
SMC Corporation (Industrials, Machinery) | | | | | | | 100 | | | | 16,886 | |
Softbank Corporation (Information Technology, IT Services) | | | | | | | 1,900 | | | | 71,220 | |
Sojitz Corporation (Industrials, Trading Companies & Distributors) | | | | | | | 3,100 | | | | 3,911 | |
Sony Corporation (Consumer Discretionary, Household Durables) | | | | | | | 2,100 | | | | 20,405 | |
Sony Financial Holdings Incorporated (Financials, Insurance) | | | | | | | 400 | | | | 6,871 | |
Square Enix Company Limited (Information Technology, Software) | | | | | | | 100 | | | | 1,345 | |
Stanley Electric Company Limited (Consumer Discretionary, Auto Components) | | | | | | | 300 | | | | 4,211 | |
Sumco Corporation (Information Technology, Semiconductors & Semiconductor Equipment) † | | | | | | | 300 | | | | 2,096 | |
Sumitomo Chemical Company Limited (Materials, Chemicals) | | | | | | | 3,000 | | | | 8,552 | |
Sumitomo Corporation (Consumer Discretionary, Distributors) | | | | | | | 2,400 | | | | 29,783 | |
Sumitomo Electric Industries Limited (Consumer Discretionary, Auto Components) | | | | | | | 1,600 | | | | 17,255 | |
Sumitomo Heavy Industries Limited (Industrials, Machinery) | | | | | | | 1,000 | | | | 4,197 | |
Sumitomo Metal Mining Company Limited (Materials, Metals & Mining) | | | | | | | 1,000 | | | | 13,696 | |
Sumitomo Mitsui Financial Group Incorporated (Financials, Commercial Banks) | | | | | | | 2,800 | | | | 90,146 | |
Sumitomo Mitsui Trust Holdings Incorporated (Financials, Commercial Banks) | | | | | | | 7,000 | | | | 21,229 | |
Sumitomo Realty & Development Company Limited (Financials, Real Estate Management & Development) | | | | | | | 1,000 | | | | 27,209 | |
Sumitomo Rubber Industries (Consumer Discretionary, Auto Components) | | | | | | | 400 | | | | 4,716 | |
Suzuken Company Limited (Health Care, Health Care Providers & Services) | | | | | | | 100 | | | | 2,978 | |
Suzuki Motor Corporation (Consumer Discretionary, Automobiles) | | | | | | | 800 | | | | 18,982 | |
T&D Holdings Incorporated (Financials, Insurance) | | | | | | | 1,200 | | | | 12,897 | |
Taiheiyo Cement Corporation (Materials, Construction Materials) | | | | | | | 2,000 | | | | 4,464 | |
Taisei Corporation (Industrials, Construction & Engineering) | | | | | | | 2,000 | | | | 5,435 | |
Taisho Pharmaceutical Holding Company Limited (Health Care, Pharmaceuticals) | | | | | | | 100 | | | | 7,363 | |
Takashimaya Company Limited (Consumer Discretionary, Multiline Retail) | | | | | | | 1,000 | | | | 6,330 | |
Takeda Pharmaceutical Company Limited (Health Care, Pharmaceuticals) | | | | | | | 1,600 | | | | 73,173 | |
Tanabe Seiyaku Company Limited (Health Care, Pharmaceuticals) | | | | | | | 500 | | | | 6,787 | |
TDK Corporation (Information Technology, Electronic Equipment, Instruments & Components) | | | | | | | 300 | | | | 11,737 | |
Teijin Limited (Materials, Chemicals) | | | | | | | 2,000 | | | | 4,585 | |
Terumo Corporation (Health Care, Health Care Equipment & Supplies) | | | | | | | 300 | | | | 12,701 | |
The Chugoku Electric Power Company Incorporated (Utilities, Electric Utilities) | | | | | | | 600 | | | | 8,654 | |
The Hachijuni Bank Limited (Financials, Commercial Banks) | | | | | | | 1,000 | | | | 5,059 | |
The Hiroshima Bank Limited (Financials, Commercial Banks) | | | | | | | 1,000 | | | | 4,172 | |
The Iyo Bank Limited (Financials, Commercial Banks) | | | | | | | 1,000 | | | | 7,761 | |
THK Company Limited (Industrials, Machinery) | | | | | | | 300 | | | | 5,157 | |
TOA Medical Electronics Company (Health Care, Health Care Equipment & Supplies) | | | | | | | 100 | | | | 4,519 | |
Tobu Railway Company Limited (Industrials, Road & Rail) | | | | | | | 2,000 | | | | 10,335 | |
Toho Company Limited Tokyo (Consumer Discretionary, Media) | | | | | | | 200 | | | | 3,363 | |
Toho Gas Company Limited (Utilities, Gas Utilities) | | | | | | | 1,000 | | | | 5,811 | |
Tohoku Electric Power Company Incorporated (Utilities, Electric Utilities) † | | | | | | | 1,000 | | | | 9,062 | |
Tokyo Electric Power Company Incorporated (Utilities, Electric Utilities) † | | | | | | | 3,100 | | | | 4,889 | |
Tokyo Electron Limited (Information Technology, Semiconductors & Semiconductor Equipment) | | | | | | | 400 | | | | 17,832 | |
Tokyo Gas Company Limited (Utilities, Gas Utilities) | | | | | | | 5,000 | | | | 24,565 | |
Tokyu Corporation (Industrials, Road & Rail) | | | | | | | 2,000 | | | | 10,263 | |
Tokyu Land Corporation (Financials, Real Estate Management & Development) | | | | | | | 1,000 | | | | 5,859 | |
Tonengeneral Sekiyu KK (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 1,000 | | | | 9,280 | |
Toppan Printing Company Limited (Industrials, Commercial Services & Supplies) | | | | | | | 1,000 | | | | 6,187 | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage International Index Portfolio | | | 13 | |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Japan (continued) | | | | | | | | | | | | |
Toray Industries Incorporated (Materials, Chemicals) | | | | | | | 3,000 | | | $ | 17,759 | |
Toshiba Corporation (Information Technology, Computers & Peripherals) | | | | | | | 8,000 | | | | 27,270 | |
TOTO Limited (Industrials, Building Products) | | | | | | | 1,000 | | | | 6,842 | |
Toyo Seikan Kaisha Limited (Materials, Containers & Packaging) | | | | | | | 300 | | | | 3,581 | |
Toyoda Gosei Company Limited (Consumer Discretionary, Auto Components) | | | | | | | 100 | | | | 2,091 | |
Toyota Boshoku Corporation (Consumer Discretionary, Auto Components) | | | | | | | 200 | | | | 2,067 | |
Toyota Industries Corporation (Consumer Discretionary, Auto Components) | | | | | | | 300 | | | | 8,978 | |
Toyota Motor Corporation (Consumer Discretionary, Automobiles) « | | | | | | | 5,800 | | | | 248,717 | |
Toyota Tsusho Corporation (Industrials, Trading Companies & Distributors) | | | | | | | 400 | | | | 9,210 | |
Trend Micro Incorporated (Information Technology, Software) | | | | | | | 200 | | | | 5,214 | |
Tsumura & Company (Health Care, Pharmaceuticals) | | | | | | | 100 | | | | 3,249 | |
UBE Industries Limited Japan (Materials, Chemicals) | | | | | | | 2,000 | | | | 4,149 | |
Uni-Charm Corporation (Consumer Staples, Household Products) | | | | | | | 200 | | | | 10,214 | |
Ushio Incorporated (Industrials, Electrical Equipment) | | | | | | | 200 | | | | 2,283 | |
USS Company Limited (Consumer Discretionary, Specialty Retail) | | | | | | | 50 | | | | 5,325 | |
West Japan Railway Company (Industrials, Road & Rail) | | | | | | | 400 | | | | 15,988 | |
Yahoo! Japan Corporation (Information Technology, Internet Software & Services) | | | | | | | 31 | | | | 10,409 | |
Yakult Honsha Company Limited (Consumer Staples, Food Products) | | | | | | | 200 | | | | 8,771 | |
Yamada Denki Company Limited (Consumer Discretionary, Specialty Retail) « | | | | | | | 180 | | | | 6,365 | |
Yamaha Corporation (Consumer Discretionary, Leisure Equipment & Products) | | | | | | | 400 | | | | 3,634 | |
Yamaha Motor Company Limited (Consumer Discretionary, Automobiles) | | | | | | | 600 | | | | 6,296 | |
Yamato Holdings Company Limited (Industrials, Air Freight & Logistics) | | | | | | | 800 | | | | 11,976 | |
Yamato Kogyo Company Limited (Materials, Metals & Mining) | | | | | | | 100 | | | | 2,699 | |
Yokogawa Electric Corporation (Information Technology, Electronic Equipment, Instruments & Components) | | | | | | | 500 | | | | 5,295 | |
| | | | |
| | | | | | | | | | | 4,230,730 | |
| | | | | | | | | | | | |
| | | | |
| Luxembourg: 0.42% | | | | | | | | | | | | |
Acergy SA (Energy, Energy Equipment & Services) | | | | | | | 610 | | | | 13,946 | |
ArcelorMittal (Materials, Metals & Mining) | | | | | | | 1,970 | | | | 29,938 | |
Millicom International Cellular SA (Telecommunication Services, Wireless Telecommunication Services) | | | | | | | 123 | | | | 10,556 | |
SES SA (Consumer Discretionary, Media) | | | | | | | 650 | | | | 18,387 | |
Tenaris SA (Energy, Energy Equipment & Services) | | | | | | | 1,027 | | | | 20,369 | |
| | | | |
| | | | | | | | | | | 93,196 | |
| | | | | | | | | | | | |
| | | | |
| Netherlands: 2.80% | | | | | | | | | | | | |
Aegon NV (Financials, Insurance) | | | | | | | 3,699 | | | | 21,278 | |
Akzo Nobel NV (Materials, Chemicals) | | | | | | | 501 | | | | 28,630 | |
ASML Holding NV (Information Technology, Semiconductors & Semiconductor Equipment) | | | | | | | 685 | | | | 42,768 | |
Boskalis Westminster NV (Industrials, Construction & Engineering) | | | | | | | 158 | | | | 6,669 | |
Corio NV (Financials, REITs) | | | | | | | 137 | | | | 6,139 | |
D.E Master Blenders 1753 NV (Consumer Staples, Food Products) † | | | | | | | 1,291 | | | | 14,859 | |
Delta Lloyd NV (Financials, Insurance) | | | | | | | 274 | | | | 4,089 | |
European Aeronautic Defence & Space Company NV (Industrials, Aerospace & Defense) | | | | | | | 867 | | | | 29,193 | |
Fugro NV (Energy, Energy Equipment & Services) | | | | | | | 146 | | | | 8,760 | |
Gemalto NV (Information Technology, Computers & Peripherals) | | | | | | | 173 | | | | 15,907 | |
Heineken Holding NV (Consumer Staples, Beverages) | | | | | | | 211 | | | | 11,424 | |
Heineken NV (Consumer Staples, Beverages) | | | | | | | 485 | | | | 31,986 | |
ING Groep NV (Financials, Diversified Financial Services) † | | | | | | | 8,107 | | | | 72,856 | |
Koninklijke Ahold NV (Consumer Staples, Food & Staples Retailing) | | | | | | | 2,108 | | | | 26,747 | |
Koninklijke DSM NV (Materials, Chemicals) | | | | | | | 324 | | | | 18,661 | |
| | | | |
| 14 | | Wells Fargo Advantage International Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Netherlands (continued) | | | | | | | | | | | | |
Koninklijke Philips Electronics NV (Industrials, Industrial Conglomerates) | | | | | | | 2,200 | | | $ | 56,824 | |
Koninklijke Vopak NV (Industrials, Transportation Infrastructure) | | | | | | | 149 | | | | 11,009 | |
QIAGEN NV (Health Care, Life Sciences Tools & Services) † | | | | | | | 533 | | | | 9,854 | |
Randstad Holdings NV (Industrials, Commercial Services & Supplies) | | | | | | | 273 | | | | 8,878 | |
Reed Elsevier NV (Consumer Discretionary, Media) | | | | | | | 1,456 | | | | 21,028 | |
Royal KPN NV (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 2,160 | | | | 12,220 | |
STMicroelectronics NV (Information Technology, Semiconductors & Semiconductor Equipment) | | | | | | | 1,443 | | | | 9,196 | |
TNT Express NV (Industrials, Air Freight & Logistics) | | | | | | | 775 | | | | 7,559 | |
Unilever NV (Consumer Staples, Food Products) | | | | | | | 3,412 | | | | 129,463 | |
Wolters Kluwer NV (Consumer Discretionary, Media) | | | | | | | 658 | | | | 12,648 | |
Ziggo NV (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 251 | | | | 7,856 | |
| | | | |
| | | | | | | | | | | 626,501 | |
| | | | | | | | | | | | |
| | | | |
| New Zealand: 0.14% | | | | | | | | | | | | |
Auckland International Airport Limited (Industrials, Transportation Infrastructure) | | | | | | | 2,330 | | | | 5,126 | |
Contact Energy Limited (Utilities, Electric Utilities) | | | | | | | 779 | | | | 3,402 | |
Fletcher Building Limited (Materials, Construction Materials) | | | | | | | 1,481 | | | | 9,629 | |
Sky City Entertainment Group Limited (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 1,451 | | | | 4,455 | |
Telecom Corporation of New Zealand Limited (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 4,009 | | | | 7,603 | |
| | | | |
| | | | | | | | | | | 30,215 | |
| | | | | | | | | | | | |
| | | | |
| Norway: 0.89% | | | | | | | | | | | | |
Aker Solutions ASA (Industrials, Construction & Engineering) | | | | | | | 345 | | | | 6,493 | |
DnB Nor ASA (Financials, Commercial Banks) | | | | | | | 2,050 | | | | 25,532 | |
Gjensidige Forsikring ASA (Financials, Insurance) | | | | | | | 437 | | | | 6,160 | |
Norsk Hydro ASA (Materials, Metals & Mining) | | | | | | | 2,107 | | | | 10,103 | |
Orkla ASA (Industrials, Industrial Conglomerates) | | | | | | | 1,685 | | | | 13,713 | |
Seadrill Limited (Energy, Energy Equipment & Services) | | | | | | | 740 | | | | 28,479 | |
Statoil ASA (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 2,362 | | | | 57,753 | |
Telenor ASA (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 1,468 | | | | 29,803 | |
Yara International ASA (Materials, Chemicals) | | | | | | | 393 | | | | 19,711 | |
| | | | |
| | | | | | | | | | | 197,747 | |
| | | | | | | | | | | | |
| | | | |
| Portugal: 0.17% | | | | | | | | | | | | |
Banco Espirito Santo SA (Financials, Commercial Banks) † | | | | | | | 4,778 | | | | 4,766 | |
Energias de Portugal SA (Utilities, Electric Utilities) | | | | | | | 3,666 | | | | 9,278 | |
Galp Energia SGPS SA (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 524 | | | | 8,035 | |
Jeronimo Martins SA (Consumer Staples, Food & Staples Retailing) | | | | | | | 499 | | | | 9,310 | |
Portugal Telecom SGPS SA (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 1,477 | | | | 6,862 | |
| | | | |
| | | | | | | | | | | 38,251 | |
| | | | | | | | | | | | |
| | | | |
| Singapore: 1.83% | | | | | | | | | | | | |
Ascendas REIT (Financials, REITs) | | | | | | | 4,000 | | | | 7,865 | |
CapitaCommerical Trust (Financials, REITs) | | | | | | | 4,000 | | | | 5,309 | |
CapitaLand Limited (Financials, Real Estate Management & Development) | | | | | | | 5,000 | | | | 14,460 | |
CapitaMall Trust (Financials, REITs) | | | | | | | 4,670 | | | | 7,920 | |
CapitaMalls Asia Limited (Financials, Real Estate Management & Development) | | | | | | | 3,000 | | | | 4,719 | |
City Developments Limited (Financials, Real Estate Management & Development) | | | | | | | 1,000 | | | | 9,602 | |
ComfortDelGro Corporation Limited (Industrials, Road & Rail) | | | | | | | 4,000 | | | | 5,637 | |
DBS Group Holdings Limited (Financials, Commercial Banks) | | | | | | | 4,103 | | | | 48,573 | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage International Index Portfolio | | | 15 | |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Singapore (continued) | | | | | | | | | | | | |
Fraser & Neave Limited (Industrials, Industrial Conglomerates) | | | | | | | 2,000 | | | $ | 15,435 | |
Genting Singapore plc (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 13,000 | | | | 13,633 | |
Global Logistic Properties Limited (Financials, Real Estate Management & Development) | | | | | | | 4,000 | | | | 9,209 | |
Golden Agri-Resources Limited (Consumer Staples, Food Products) | | | | | | | 15,500 | | | | 8,381 | |
Hutchison Port Holdings Trust (Industrials, Transportation Infrastructure) | | | | | | | 11,600 | | | | 8,990 | |
Jardine Cycle & Carriage Limited (Consumer Discretionary, Distributors) | | | | | | | 122 | | | | 4,877 | |
Keppel Corporation Limited (Industrials, Industrial Conglomerates) | | | | | | | 3,300 | | | | 28,955 | |
Keppel Land Limited (Financials, Real Estate Management & Development) | | | | | | | 1,219 | | | | 3,595 | |
Olam International Limited (Consumer Staples, Food & Staples Retailing) | | | | | | | 3,753 | | | | 4,843 | |
Oversea-Chinese Banking Corporation Limited (Financials, Commercial Banks) | | | | | | | 5,757 | | | | 44,383 | |
SembCorp Industries Limited (Industrials, Machinery) | | | | | | | 1,980 | | | | 8,403 | |
SembCorp Marine Limited (Industrials, Machinery) | | | | | | | 2,000 | | | | 7,472 | |
Singapore Airlines Limited (Industrials, Airlines) | | | | | | | 1,600 | | | | 14,039 | |
Singapore Exchange Limited (Financials, Diversified Financial Services) | | | | | | | 2,000 | | | | 11,290 | |
Singapore Press Holdings Limited (Consumer Discretionary, Media) | | | | | | | 3,000 | | | | 10,274 | |
Singapore Technologies Engineering Limited (Industrials, Aerospace & Defense) | | | | | | | 3,000 | | | | 9,020 | |
Singapore Telecommunications Limited (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 17,000 | | | | 46,100 | |
StarHub Limited (Telecommunication Services, Wireless Telecommunication Services) | | | | | | | 1,000 | | | | 3,056 | |
United Overseas Bank Limited (Financials, Commercial Banks) | | | | | | | 2,310 | | | | 35,428 | |
United Overseas Land Limited (Financials, Real Estate Management & Development) | | | | | | | 1,000 | | | | 4,768 | |
Wilmar International Limited (Consumer Staples, Food Products) | | | | | | | 4,000 | | | | 10,454 | |
Yangzijiang Shipbuilding Holdings Limited (Industrials, Machinery) | | | | | | | 4,000 | | | | 3,064 | |
| | | | |
| | | | | | | | | | | 409,754 | |
| | | | | | | | | | | | |
| | | | |
| Spain: 2.91% | | | | | | | | | | | | |
Abertis Infraestructuras SA (Industrials, Transportation Infrastructure) | | | | | | | 771 | | | | 11,266 | |
Acciona SA (Utilities, Electric Utilities) | | | | | | | 31 | | | | 2,010 | |
Actividades de Construccion y Servicios SA (Industrials, Construction & Engineering) | | | | | | | 321 | | | | 6,861 | |
Amadeus IT Holding SA (Information Technology, IT Services) | | | | | | | 684 | | �� | | 15,968 | |
Banco Bilbao Vizcaya Argentaria SA (Financials, Commercial Banks) | | | | | | | 11,236 | | | | 95,335 | |
Banco de Sabade SA (Financials, Commercial Banks) † | | | | | | | 4,883 | | | | 13,628 | |
Banco de Valencia SA (Financials, Commercial Banks) † | | | | | | | 12 | | | | 2 | |
Banco Popular Espanol SA (Financials, Commercial Banks) « | | | | | | | 9,280 | | | | 7,748 | |
Banco Santander Central Hispano SA (Financials, Commercial Banks) | | | | | | | 21,405 | | | | 164,636 | |
Bankia SA (Financials, Commercial Banks) † | | | | | | | 2,196 | | | | 2,048 | |
Cintra Concesiones de Infraestructuras de Transporte SA (Industrials, Construction & Engineering) | | | | | | | 854 | | | | 12,656 | |
Criteria CaixaCorp SA (Financials, Diversified Financial Services) | | | | | | | 1,878 | | | | 7,178 | |
Distribuidora Internacional SA (Consumer Staples, Food & Staples Retailing) | | | | | | | 1,333 | | | | 8,273 | |
Enagas SA (Utilities, Gas Utilities) | | | | | | | 405 | | | | 8,288 | |
Gas Natural SDG SA (Utilities, Gas Utilities) | | | | | | | 667 | | | | 10,353 | |
Grifols SA (Health Care, Biotechnology) † | | | | | | | 316 | | | | 10,108 | |
Iberdrola SA (Utilities, Electric Utilities) | | | | | | | 7,988 | | | | 39,685 | |
Industria de Diseno Textil SA (Consumer Discretionary, Specialty Retail) | | | | | | | 454 | | | | 62,233 | |
International Consolidated Airlines Group SA (Industrials, Airlines) † | | | | | | | 1,938 | | | | 5,238 | |
Mapfre SA (Financials, Insurance) | | | | | | | 1,610 | | | | 4,527 | |
Red Electrica de Espana SA (Utilities, Electric Utilities) | | | | | | | 229 | | | | 10,612 | |
Repsol YPF SA (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 1,728 | | | | 36,654 | |
Telefonica SA (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 8,458 | | | | 110,991 | |
Zardoya-Otis SA (Industrials, Machinery) | | | | | | | 388 | | | | 5,314 | |
| | | | |
| | | | | | | | | | | 651,612 | |
| | | | | | | | | | | | |
| | | | |
| 16 | | Wells Fargo Advantage International Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Sweden: 3.08% | | | | | | | | | | | | |
Alfa Laval AB (Industrials, Machinery) | | | | | | | 733 | | | $ | 14,410 | |
Assa Abloy AB Class B (Industrials, Building Products) | | | | | | | 702 | | | | 25,396 | |
Atlas Copco AB Class A (Industrials, Machinery) | | | | | | | 1,421 | | | | 36,607 | |
Atlas Copco AB Class B (Industrials, Machinery) | | | | | | | 842 | | | | 19,426 | |
Boliden AB (Materials, Metals & Mining) | | | | | | | 574 | | | | 10,154 | |
Electrolux AB Class B (Consumer Discretionary, Household Durables) | | | | | | | 525 | | | | 13,738 | |
Elekta AB Class B (Health Care, Health Care Equipment & Supplies) | | | | | | | 771 | | | | 11,142 | |
Getinge AB (Health Care, Health Care Equipment & Supplies) | | | | | | | 437 | | | | 14,089 | |
Hennes & Mauritz AB Class B (Consumer Discretionary, Specialty Retail) | | | | | | | 2,009 | | | | 65,192 | |
Hexagon AB (Industrials, Machinery) | | | | | | | 517 | | | | 12,790 | |
Husqvarna AB A Shares (Consumer Discretionary, Household Durables) | | | | | | | 1 | | | | 6 | |
Husqvarna AB B Shares (Consumer Discretionary, Household Durables) | | | | | | | 942 | | | | 5,660 | |
Industrivarden AB Class C (Financials, Diversified Financial Services) | | | | | | | 303 | | | | 4,495 | |
Investor AB (Financials, Diversified Financial Services) | | | | | | | 964 | | | | 22,327 | |
Kinnevik Investment AB (Financials, Diversified Financial Services) | | | | | | | 430 | | | | 8,376 | |
Lundin Petroleum AB (Energy, Oil, Gas & Consumable Fuels) † | | | | | | | 427 | | | | 10,089 | |
Nordea Bank AB (Financials, Commercial Banks) | | | | | | | 5,572 | | | | 51,002 | |
Ratos AB B Shares (Financials, Capital Markets) | | | | | | | 401 | | | | 3,993 | |
Sandvik AB (Industrials, Machinery) | | | | | | | 2,111 | | | | 31,554 | |
Scania AB Class B (Industrials, Machinery) | | | | | | | 699 | | | | 14,509 | |
Securitas AB (Industrials, Commercial Services & Supplies) | | | | | | | 659 | | | | 5,155 | |
Skandinaviska Enskilda Banken AB Class A (Financials, Commercial Banks) | | | | | | | 3,058 | | | | 24,613 | |
Skanska AB (Industrials, Construction & Engineering) | | | | | | | 808 | | | | 12,836 | |
SKF AB Class B (Industrials, Machinery) | | | | | | | 856 | | | | 20,585 | |
Svenska Cellulosa AB Class B (Materials, Paper & Forest Products) | | | | | | | 1,215 | | | | 24,598 | |
Svenska Handelsbanken AB (Financials, Commercial Banks) | | | | | | | 1,007 | | | | 35,795 | |
Swedbank AB (Financials, Commercial Banks) | | | | | | | 1,675 | | | | 30,940 | |
Swedish Match AB (Consumer Staples, Tobacco) | | | | | | | 436 | | | | 15,347 | |
Tele2 AB (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 689 | | | | 12,044 | |
Telefonaktiebolaget LM Ericsson Class B Shares (Information Technology, Communications Equipment) | | | | | | | 6,374 | | | | 59,397 | |
Teliasonera AB (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 4,554 | | | | 30,541 | |
Volvo AB Class B (Industrials, Machinery) | | | | | | | 2,945 | | | | 41,718 | |
| | | | |
| | | | | | | | | | | 688,524 | |
| | | | | | | | | | | | |
| | | | |
| Switzerland: 8.73% | | | | | | | | | | | | |
ABB Limited (Industrials, Electrical Equipment) | | | | | | | 4,584 | | | | 89,335 | |
Actelion Limited (Health Care, Biotechnology) | | | | | | | 240 | | | | 11,887 | |
Adecco SA (Industrials, Professional Services) | | | | | | | 289 | | | | 14,280 | |
Aryzta AG (Consumer Staples, Food Products) | | | | | | | 184 | | | | 9,302 | |
Baloise Holding AG (Financials, Insurance) | | | | | | | 99 | | | | 8,306 | |
Banque Cantonale Vaudoise Waadtlaender Kantonalbank (Financials, Commercial Banks) | | | | | | | 6 | | | | 3,292 | |
Barry Callebaut AG (Consumer Staples, Food Products) | | | | | | | 4 | | | | 4,057 | |
Compagnie Financiere Richemont SA (Consumer Discretionary, Textiles, Apparel & Luxury Goods) | | | | | | | 1,090 | | | | 84,041 | |
Credit Suisse Group AG (Financials, Capital Markets) | | | | | | | 2,587 | | | | 61,248 | |
EMS-Chemie Holdings AG (Materials, Chemicals) | | | | | | | 17 | | | | 4,006 | |
Geberit AG (Industrials, Building Products) | | | | | | | 77 | | | | 16,269 | |
Givaudan SA (Materials, Chemicals) | | | | | | | 17 | | | | 17,070 | |
Holcim Limited (Materials, Construction Materials) | | | | | | | 485 | | | | 33,234 | |
Julius Baer Group Limited (Financials, Capital Markets) | | | | | | | 453 | | | | 15,516 | |
Kuehne & Nagel International AG (Industrials, Marine) | | | | | | | 117 | | | | 14,090 | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage International Index Portfolio | | | 17 | |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| Switzerland (continued) | | | | | | | | | | | | |
Lindt & Spruengli AG (Participation Certificate) (Consumer Staples, Food Products) | | | | | | | 2 | | | $ | 6,431 | |
Lonza Group AG (Health Care, Life Sciences Tools & Services) | | | | | | | 116 | | | | 5,589 | |
Nestle SA (Consumer Staples, Food Products) | | | | | | | 6,744 | | | | 441,377 | |
Novartis AG (Health Care, Pharmaceuticals) | | | | | | | 4,802 | | | | 297,178 | |
Pargesa Holding SA (Financials, Diversified Financial Services) | | | | | | | 68 | | | | 4,568 | |
Partners Group Holding AG (Financials, Diversified Financial Services) | | | | | | | 29 | | | | 6,321 | |
Phonak Holding AG (Health Care, Health Care Equipment & Supplies) | | | | | | | 94 | | | | 10,265 | |
Roche Holdings AG (Health Care, Pharmaceuticals) | | | | | | | 1,467 | | | | 288,746 | |
Schindler Holding AG (Industrials, Machinery) | | | | | | | 46 | | | | 6,433 | |
Schindler Holding AG (Participation Certificate) (Industrials, Machinery) | | | | | | | 106 | | | | 14,870 | |
SGS SA (Industrials, Commercial Services & Supplies) | | | | | | | 11 | | | | 24,678 | |
Sika AG (Materials, Chemicals) | | | | | | | 4 | | | | 8,784 | |
Sulzer AG (Industrials, Machinery) | | | | | | | 54 | | | | 8,362 | |
Swatch Group AG (Consumer Discretionary, Textiles, Apparel & Luxury Goods) | | | | | | | 101 | | | | 8,376 | |
Swatch Group AG Class B (Consumer Discretionary, Textiles, Apparel & Luxury Goods) | | | | | | | 65 | | | | 31,395 | |
Swiss Life Holding (Financials, Insurance) | | | | | | | 64 | | | | 8,564 | |
Swiss Prime Site AG (Financials, Real Estate Management & Development) | | | | | | | 111 | | | | 8,924 | |
Swiss Re AG (Financials, Insurance) | | | | | | | 745 | | | | 53,662 | |
Swisscom AG (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 49 | | | | 20,632 | |
Syngenta AG (Materials, Chemicals) | | | | | | | 195 | | | | 78,173 | |
Transocean Limited (Energy, Energy Equipment & Services) | | | | | | | 742 | | | | 33,981 | |
UBS AG (Financials, Diversified Financial Services) | | | | | | | 7,639 | | | | 119,527 | |
Zurich Financial Services AG (Financials, Insurance) | | | | | | | 308 | | | | 78,604 | |
| | | | |
| | | | | | | | | | | 1,951,373 | |
| | | | | | | | | | | | |
| | | | |
| United Kingdom: 22.65% | | | | | | | | | | | | |
3I Group plc (Financials, Capital Markets) | | | | | | | 2,019 | | | | 6,845 | |
Aberdeen Asset Management plc (Financials, Capital Markets) | | | | | | | 1,914 | | | | 10,365 | |
Admiral Group plc (Financials, Insurance) | | | | | | | 427 | | | | 7,655 | |
Aggreko plc (Industrials, Commercial Services & Supplies) | | | | | | | 578 | | | | 20,669 | |
AMEC plc (Energy, Energy Equipment & Services) | | | | | | | 687 | | | | 11,491 | |
Anglo American plc (Materials, Metals & Mining) | | | | | | | 2,902 | | | | 80,552 | |
Antofagasta plc (Materials, Metals & Mining) | | | | | | | 861 | | | | 17,767 | |
ARM Holdings plc (Information Technology, Semiconductors & Semiconductor Equipment) | | | | | | | 2,822 | | | | 34,995 | |
Associated British Foods plc (Consumer Staples, Food Products) | | | | | | | 777 | | | | 18,399 | |
AstraZeneca plc (Health Care, Pharmaceuticals) | | | | | | | 2,608 | | | | 123,953 | |
Aviva plc (Financials, Insurance) | | | | | | | 6,176 | | | | 34,682 | |
Babcock International Group plc (Industrials, Commercial Services & Supplies) | | | | | | | 779 | | | | 12,437 | |
BAE Systems plc (Industrials, Aerospace & Defense) | | | | | | | 6,875 | | | | 36,051 | |
Balfour Beatty plc (Industrials, Construction & Engineering) | | | | | | | 1,426 | | | | 5,901 | |
Barclays plc (Financials, Commercial Banks) | | | | | | | 24,305 | | | | 95,793 | |
BG Group plc (Health Care, Health Care Providers & Services) | | | | | | | 7,126 | | | | 122,161 | |
BHP Billiton plc (Materials, Metals & Mining) | | | | | | | 4,417 | | | | 138,845 | |
BP plc (Energy, Oil, Gas & Consumable Fuels) | | | | | | | 39,722 | | | | 274,673 | |
British American Tobacco plc (Consumer Staples, Tobacco) | | | | | | | 4,064 | | | | 213,175 | |
British Land Company plc (Financials, REITs) | | | | | | | 1,814 | | | | 15,985 | |
British Sky Broadcasting plc (Consumer Discretionary, Media) | | | | | | | 2,301 | | | | 27,981 | |
BT Group plc (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 16,521 | | | | 61,805 | |
Bunzl plc (Industrials, Trading Companies & Distributors) | | | | | | | 701 | | | | 11,557 | |
Burberry Group plc (Consumer Discretionary, Textiles, Apparel & Luxury Goods) | | | | | | | 956 | | | | 19,712 | |
| | | | |
| 18 | | Wells Fargo Advantage International Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | |
| Security name | | | | | | Shares | | | Value | |
| | | | | | | | | | | | |
| | | | |
| United Kingdom (continued) | | | | | | | | | | | | |
Capita plc (Industrials, Professional Services) | | | | | | | 1,372 | | | $ | 16,761 | |
Carnival plc (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 381 | | | | 15,413 | |
Centrica plc (Utilities, Gas Utilities) | | | | | | | 10,972 | | | | 57,289 | |
Cobham plc (Industrials, Aerospace & Defense) | | | | | | | 2,441 | | | | 8,291 | |
Compass Group plc (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 3,950 | | | | 45,628 | |
Croda International plc (Materials, Chemicals) | | | | | | | 286 | | | | 10,910 | |
Diageo plc (Consumer Staples, Beverages) | | | | | | | 5,256 | | | | 156,376 | |
Eurasian Natural Resources Corporation (Materials, Metals & Mining) | | | | | | | 677 | | | | 2,931 | |
Evraz plc (Materials, Metals & Mining) | | | | | | | 840 | | | | 3,152 | |
Experian Group Limited (Financials, Diversified Financial Services) | | | | | | | 2,136 | | | | 35,488 | |
Fresnillo plc (Materials, Metals & Mining) | | | | | | | 379 | | | | 12,071 | |
G4S plc (Industrials, Commercial Services & Supplies) | | | | | | | 3,059 | | | | 12,115 | |
GKN plc (Consumer Discretionary, Auto Components) | | | | | | | 2,991 | | | | 10,638 | |
GlaxoSmithKline plc (Health Care, Pharmaceuticals) | | | | | | | 10,401 | | | | 222,381 | |
Glencore International plc (Materials, Metals & Mining) « | | | | | | | 8,058 | | | | 44,605 | |
Hammerson plc (Financials, REITs) | | | | | | | 1,509 | | | | 11,392 | |
Hargreaves Lansdown plc (Financials, Capital Markets) | | | | | | | 496 | | | | 6,042 | |
HSBC Holdings plc (Financials, Commercial Banks) | | | | | | | 38,292 | | | | 391,226 | |
ICAP plc (Financials, Capital Markets) | | | | | | | 1,152 | | | | 5,380 | |
IMI plc (Industrials, Machinery) | | | | | | | 672 | | | | 11,348 | |
Imperial Tobacco Group plc (Consumer Staples, Tobacco) | | | | | | | 2,094 | | | | 83,772 | |
Independent Tankers Corporation Limited (Energy, Oil, Gas & Consumable Fuels) †(a) | | | | | | | 50 | | | | 1 | |
Inmarsat plc (Telecommunication Services, Diversified Telecommunication Services) | | | | | | | 937 | | | | 8,820 | |
Intercontinental Hotels Group plc (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | 594 | | | | 15,874 | |
Intertek Group plc (Industrials, Commercial Services & Supplies) | | | | | | | 350 | | | | 17,327 | |
Invensys plc (Information Technology, IT Services) | | | | | | | 1,912 | | | | 9,665 | |
Investec plc (Financials, Capital Markets) | | | | | | | 1,118 | | | | 6,837 | |
ITV plc (Consumer Discretionary, Media) | | | | | | | 7,825 | | | | 12,399 | |
J Sainsbury plc (Consumer Staples, Food & Staples Retailing) | | | | | | | 2,592 | | | | 14,178 | |
Johnson Matthey plc (Materials, Chemicals) | | | | | | | 448 | | | | 17,219 | |
Kazakhmys plc (Materials, Metals & Mining) | | | | | | | 517 | | | | 5,910 | |
Kingfisher plc (Consumer Discretionary, Specialty Retail) | | | | | | | 5,015 | | | | 22,337 | |
Land Securities Group plc (Financials, REITs) | | | | | | | 1,649 | | | | 21,347 | |
Legal & General Group plc (Financials, Insurance) | | | | | | | 12,432 | | | | 29,020 | |
Liberty International plc (Financials, REITs) | | | | | | | 1,190 | | | | 6,587 | |
Lloyds TSB Group plc (Financials, Commercial Banks) † | | | | | | | 87,471 | | | | 65,159 | |
London Stock Exchange Group plc (Financials, Diversified Financial Services) | | | | | | | 375 | | | | 5,873 | |
Lonmin plc (Materials, Metals & Mining) | | | | | | | 408 | | | | 1,687 | |
Marks & Spencer Group plc (Consumer Discretionary, Multiline Retail) | | | | | | | 3,362 | | | | 21,039 | |
Meggitt plc (Industrials, Aerospace & Defense) | | | | | | | 1,656 | | | | 10,331 | |
Melrose Industries plc (Industrials, Machinery) | | | | | | | 2,724 | | | | 9,300 | |
National Grid plc (Utilities, Multi-Utilities) | | | | | | | 7,465 | | | | 84,318 | |
Next plc (Consumer Discretionary, Multiline Retail) | | | | | | | 357 | | | | 20,940 | |
Old Mutual plc (Financials, Commercial Banks) | | | | | | | 10,237 | | | | 28,095 | |
Pearson plc (Consumer Discretionary, Media) | | | | | | | 1,727 | | | | 32,594 | |
Petrofac Limited (Energy, Energy Equipment & Services) | | | | | | | 565 | | | | 14,737 | |
Prudential plc (Financials, Insurance) | | | | | | | 5,327 | | | | 77,239 | |
Randgold Resources Limited (Materials, Metals & Mining) | | | | | | | 190 | | | | 20,289 | |
Reckitt Benckiser Group plc (Consumer Staples, Household Products) | | | | | | | 1,358 | | | | 85,397 | |
Reed Elsevier plc (Consumer Discretionary, Media) | | | | | | | 2,551 | | | | 26,260 | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage International Index Portfolio | | | 19 | |
| | | | | | | | | | | | | | |
| Security name | | | | | | | Shares | | | Value | |
| | | | | | | | | | | | | | |
| | | | |
| United Kingdom (continued) | | | | | | | | | | | | | | |
Resolution Limited (Financials, Insurance) | | | | | | | | | 2,927 | | | $ | 11,147 | |
Rexam plc (Materials, Containers & Packaging) | | | | | | | | | 1,916 | | | | 13,436 | |
Rio Tinto plc (Materials, Metals & Mining) | | | | | | | | | 2,803 | | | | 138,924 | |
Rolls Royce Holdings plc (Industrials, Aerospace & Defense) | | | | | | | | | 3,938 | | | | 56,184 | |
Royal Bank of Scotland Group plc (Financials, Commercial Banks) † | | | | | | | | | 4,481 | | | | 21,193 | |
Royal Dutch Shell plc Class A (Energy, Oil, Gas & Consumable Fuels) | | | | | | | | | 7,716 | | | | 258,308 | |
Royal Dutch Shell plc Class B (Energy, Oil, Gas & Consumable Fuels) | | | | | | | | | 5,520 | | | | 190,541 | |
SABMiller plc (Consumer Staples, Beverages) | | | | | | | | | 1,998 | | | | 90,511 | |
Sage Group plc (Information Technology, Software) | | | | | | | | | 2,587 | | | | 12,915 | |
Schroders plc (Financials, Capital Markets) | | | | | | | | | 239 | | | | 6,111 | |
Scottish & Southern Energy plc (Utilities, Electric Utilities) | | | | | | | | | 1,999 | | | | 45,638 | |
Segro plc (Financials, REITs) | | | | | | | | | 1,570 | | | | 5,944 | |
Serco Group plc (Industrials, Commercial Services & Supplies) | | | | | | | | | 1,045 | | | | 9,158 | |
Severn Trent plc (Utilities, Water Utilities) | | | | | | | | | 500 | | | | 12,937 | |
Shire Limited plc (Health Care, Pharmaceuticals) | | | | | | | | | 1,183 | | | | 34,230 | |
Smith & Nephew plc (Health Care, Health Care Equipment & Supplies) | | | | | | | | | 1,898 | | | | 19,994 | |
Smiths Group plc (Industrials, Industrial Conglomerates) | | | | | | | | | 858 | | | | 15,052 | |
Standard Chartered plc (Financials, Commercial Banks) | | | | | | | | | 5,009 | | | | 116,766 | |
Standard Life plc (Financials, Insurance) | | | | | | | | | 4,990 | | | | 25,583 | |
Tate & Lyle plc (Consumer Staples, Food Products) | | | | | | | | | 1,010 | | | | 12,508 | |
Tesco plc (Consumer Staples, Food & Staples Retailing) | | | | | | | | | 16,814 | | | | 87,577 | |
TUI Travel plc (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | | | 1,012 | | | | 4,399 | |
Tullow Oil plc (Energy, Oil, Gas & Consumable Fuels) | | | | | | | | | 1,919 | | | | 42,336 | |
Unilever plc (Consumer Staples, Food Products) | | | | | | | | | 2,683 | | | | 103,295 | |
United Utilities Group plc (Utilities, Multi-Utilities) | | | | | | | | | 1,461 | | | | 15,952 | |
Vedanta Resources plc (Materials, Metals & Mining) | | | | | | | | | 208 | | | | 3,569 | |
Veripos Incorporated (Industrials, Transportation Infrastructure) † | | | | | | | | | 71 | | | | 211 | |
Vodafone Group plc (Telecommunication Services, Wireless Telecommunication Services) | | | | | | | | | 103,024 | | | | 265,994 | |
Weir Group plc (Industrials, Machinery) | | | | | | | | | 461 | | | | 13,959 | |
Whitbread plc (Consumer Discretionary, Hotels, Restaurants & Leisure) | | | | | | | | | 389 | | | | 14,951 | |
William Morrison Supermarkets plc (Consumer Staples, Food & Staples Retailing) | | | | | | | | | 4,808 | | | | 20,706 | |
Wolseley plc (Industrials, Trading Companies & Distributors) | | | | | | | | | 599 | | | | 27,802 | |
WPP plc (Consumer Discretionary, Media) | | | | | | | | | 2,651 | | | | 36,357 | |
Xstrata plc (Materials, Metals & Mining) | | | | | | | | | 4,449 | | | | 73,710 | |
| | | | |
| | | | | | | | | | | | | 5,065,335 | |
| | | | | | | | | | | | | | |
| | | | |
Total Common Stocks (Cost $20,230,067) | | | | | | | | | | | | | 21,974,242 | |
| | | | | | | | | | | | | | |
| | | | |
| | | Dividend yield | | | | | | | | | |
| Preferred Stocks: 0.62% | | | | | | | | | | | | | | |
| | | | |
| Germany: 0.62% | | | | | | | | | | | | | | |
Bayerische Motoren Werke AG (Consumer Discretionary, Automobiles) | | | 4.96 | % | | | | | 114 | | | | 6,939 | |
Henkel AG & Company KGaA ADR (Consumer Staples, Household Products) | | | 1.24 | | | | | | 375 | | | | 31,335 | |
Porsche AG (Consumer Discretionary, Automobiles) | | | 1.34 | | | | | | 330 | | | | 24,463 | |
ProSiebenSat.1 AG (Consumer Discretionary, Media) | | | 5.19 | | | | | | 200 | | | | 5,854 | |
RWE AG (Utilities, Electric Utilities) | | | 6.88 | | | | | | 95 | | | | 3,590 | |
Volkswagen AG (Consumer Discretionary, Automobiles) | | | 2.19 | | | | | | 306 | | | | 66,242 | |
| | | | |
| | | | | | | | | | | | | 138,423 | |
| | | | | | | | | | | | | | |
| | | | |
| 20 | | Wells Fargo Advantage International Index Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | | | | | |
| Security name | | Dividend yield | | | | | | Shares | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
| United Kingdom: 0.00% | | | | | | | | | | | | | | | | |
Rolls Royce Holdings C Shares Entitlement (Industrials, Aerospace & Defense) (a) | | | 0.00 | % | | | | | | | 305,444 | | | $ | 489 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Preferred Stocks (Cost $95,903) | | | | | | | | | | | | | | | 138,912 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | | | Expiration date | | | | | | | |
| Rights: 0.02% | | | | | | | | | | | | | | | | |
| | | | |
| Spain: 0.01% | | | | | | | | | | | | | | | | |
Banco Popular Espanol SA (Financials, Commercial Banks) †(a) | | | | | | | 11-28-12 | | | | 2,636 | | | | 2,479 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Switzerland: 0.00% | | | | | | | | | | | | | | | | |
Swiss Prime Site AG (Financials, Real Estate Management & Development) † | | | | | | | 12-03-12 | | | | 111 | | | | 120 | |
| | | | | | | | | | | | | | | | |
| | | | |
| United Kingdom: 0.01% | | | | | | | | | | | | | | | | |
Lonmin plc (Materials, Metals & Mining) † | | | | | | | 12-10-12 | | | | 734 | | | | 1,353 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Rights (Cost $15,422) | | | | | | | | | | | | | | | 3,952 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | Yield | | | | | | | | | | |
| Short-Term Investments: 2.02% | | | | | | | | | | | | | | | | |
| | | | |
| Investment Companies: 2.02% | | | | | | | | | | | | | | | | |
Wells Fargo Securities Lending Cash Investment, LLC (r)(v)(l)(u) | | | 0.21 | | | | | | | | 452,217 | | | | 452,217 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Short-Term Investments (Cost $452,217) | | | | | | | | | | | | | | | 452,217 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | |
| Total investments in securities | | | | | | | | |
| (Cost $20,793,609) * | | | 100.92 | % | | | 22,569,323 | |
Other assets and liabilities, net | | | (0.92 | ) | | | (206,172 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 22,363,151 | |
| | | | | | | | |
| « | All or a portion of this security is on loan. |
| † | Non-income-earning security |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| (l) | Investment in an affiliate |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| * | Cost for federal income tax purposes is $21,165,061 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 2,838,297 | |
Gross unrealized depreciation | | | (1,434,035 | ) |
| | | | |
Net unrealized appreciation | | $ | 1,404,262 | |
The following table shows the percent of total long-term investments by sector as of November 30, 2012:
| | | | |
Financials | | | 24.55 | % |
Industrials | | | 12.27 | % |
Consumer Staples | | | 11.82 | % |
Consumer Discretionary | | | 11.03 | % |
Health Care | | | 10.53 | % |
Materials | | | 9.66 | % |
Energy | | | 7.40 | % |
Telecommunication Services | | | 4.63 | % |
Information Technology | | | 4.30 | % |
Utilities | | | 3.81 | % |
| | | | |
| | | 100.00 | % |
| | | | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Core Bond Portfolio | | | 1 | |
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Agency Securities: 35.58% | | | | | | | | | | | | | | | | |
FHLMC %% | | | 2.50 | % | | | 1-1-27 | | | $ | 55,900,000 | | | $ | 58,162,200 | |
FHLMC %% | | | 2.50 | | | | 12-1-27 | | | | 15,600,000 | | | | 16,255,683 | |
FHLMC | | | 3.00 | | | | 7-1-32 | | | | 1,741,813 | | | | 1,849,510 | |
FHLMC | | | 3.00 | | | | 9-1-32 | | | | 1,853,137 | | | | 1,967,717 | |
FHLMC %% | | | 3.00 | | | | 1-1-42 | | | | 9,100,000 | | | | 9,515,188 | |
FHLMC %% | | | 3.00 | | | | 2-1-42 | | | | 13,100,000 | | | | 13,666,985 | |
FHLMC | | | 3.00 | | | | 8-1-42 | | | | 564,580 | | | | 592,696 | |
FHLMC | | | 3.00 | | | | 8-1-42 | | | | 1,968,106 | | | | 2,066,117 | |
FHLMC | | | 3.00 | | | | 9-1-42 | | | | 302,039 | | | | 317,080 | |
FHLMC | | | 3.00 | | | | 9-1-42 | | | | 312,496 | | | | 328,058 | |
FHLMC | | | 3.50 | | | | 8-1-32 | | | | 3,343,182 | | | | 3,635,971 | |
FHLMC | | | 3.50 | | | | 9-1-32 | | | | 7,941,820 | | | | 8,605,706 | |
FHLMC | | | 3.87 | | | | 4-25-21 | | | | 1,432,000 | | | | 1,639,706 | |
FHLMC | | | 4.00 | | | | 11-15-37 | | | | 3,062,963 | | | | 3,145,795 | |
FHLMC | | | 4.00 | | | | 4-1-42 | | | | 19,448,472 | | | | 21,592,492 | |
FHLMC | | | 4.00 | | | | 6-1-42 | | | | 4,047,012 | | | | 4,509,346 | |
FHLMC | | | 4.00 | | | | 6-1-42 | | | | 8,572,484 | | | | 9,551,814 | |
FHLMC | | | 4.00 | | | | 6-1-42 | | | | 40,071,200 | | | | 44,488,690 | |
FHLMC | | | 4.00 | | | | 11-1-42 | | | | 2,863,013 | | | | 3,190,087 | |
FHLMC | | | 4.50 | | | | 9-1-42 | | | | 3,965,827 | | | | 4,427,916 | |
FHLMC | | | 5.00 | | | | 8-1-39 | | | | 26,643,876 | | | | 29,586,002 | |
FHLMC | | | 5.00 | | | | 4-1-41 | | | | 3,231,366 | | | | 3,629,589 | |
FHLMC | | | 5.00 | | | | 5-1-41 | | | | 2,876,909 | | | | 3,231,450 | |
FHLMC | | | 5.00 | | | | 7-1-41 | | | | 10,315,458 | | | | 11,586,700 | |
FHLMC | | | 5.00 | | | | 8-1-41 | | | | 26,486,600 | | | | 29,750,719 | |
FHLMC | | | 5.00 | | | | 4-1-42 | | | | 3,619,913 | | | | 4,019,639 | |
FHLMC | | | 5.50 | | | | 7-1-38 | | | | 11,728,937 | | | | 13,222,021 | |
FHLMC ± | | | 5.58 | | | | 10-1-38 | | | | 714,671 | | | | 774,902 | |
FHLMC ± | | | 5.72 | | | | 11-1-37 | | | | 50,043 | | | | 54,182 | |
FHLMC ± | | | 5.88 | | | | 3-1-37 | | | | 112,364 | | | | 122,112 | |
FHLMC | | | 6.00 | | | | 8-1-17 | | | | 68,002 | | | | 73,667 | |
FHLMC | | | 6.00 | | | | 10-1-17 | | | | 150,058 | | | | 162,559 | |
FHLMC | | | 6.00 | | | | 2-1-23 | | | | 86,168 | | | | 94,134 | |
FHLMC | | | 6.00 | | | | 3-1-34 | | | | 631,866 | | | | 701,343 | |
FHLMC | | | 6.00 | | | | 2-1-35 | | | | 1,008,168 | | | | 1,119,022 | |
FHLMC | | | 6.00 | | | | 12-1-35 | | | | 10,944,798 | | | | 12,148,238 | |
FHLMC | | | 6.00 | | | | 3-1-36 | | | | 5,694,015 | | | | 6,318,356 | |
FHLMC | | | 6.50 | | | | 4-1-21 | | | | 39,956 | | | | 41,440 | |
FHLMC Series 1590 Class IA ± | | | 1.30 | | | | 10-15-23 | | | | 81,278 | | | | 83,179 | |
FHLMC Series 1897 Class K | | | 7.00 | | | | 9-15-26 | | | | 2,427 | | | | 2,816 | |
FHLMC Series 1935 Class FL ± | | | 0.95 | | | | 2-15-27 | | | | 5,771 | | | | 5,840 | |
FHLMC Series 2423 Class MC | | | 7.00 | | | | 3-15-32 | | | | 36,890 | | | | 43,458 | |
FHLMC Series 2980 Class QA | | | 6.00 | | | | 5-15-35 | | | | 357,320 | | | | 403,037 | |
FHLMC Series 3529 Class AG | | | 6.50 | | | | 4-15-39 | | | | 9,773,064 | | | | 11,049,651 | |
FHLMC Series 3622 Class WA | | | 5.50 | | | | 9-15-39 | | | | 9,451,316 | | | | 10,395,039 | |
FHLMC Series K003 Class AAB | | | 4.77 | | | | 5-25-18 | | | | 3,752,000 | | | | 4,238,762 | |
FHLMC Series K005 Class A2 | | | 4.32 | | | | 11-25-19 | | | | 5,117,000 | | | | 5,993,880 | |
FHLMC Series T-48 Class 1A3 ± | | | 6.14 | | | | 7-25-33 | | | | 104,741 | | | | 121,041 | |
FHLMC Series T-57 Class 1A3 | | | 7.50 | | | | 7-25-43 | | | | 1,141,919 | | | | 1,323,915 | |
FHLMC Series T-59 Class 1A3 | | | 7.50 | | | | 10-25-43 | | | | 1,552,184 | | | | 1,783,034 | |
| | | | |
| 2 | | Wells Fargo Advantage Core Bond Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Agency Securities (continued) | | | | | | | | | | | | | | | | |
FHLMC Series T-60 Class 1A3 | | | 7.50 | % | | | 3-25-44 | | | $ | 1,603,972 | | | $ | 1,937,334 | |
FHLMC Structured Pass-Through Securities Series T-57 Class 1A2 | | | 7.00 | | | | 7-25-43 | | | | 1,542,183 | | | | 1,778,662 | |
FNMA ± | | | 2.31 | | | | 6-1-17 | | | | 2,130 | | | | 2,138 | |
FNMA %% | | | 2.50 | | | | 1-1-27 | | | | 71,100,000 | | | | 74,199,512 | |
FNMA %% | | | 2.50 | | | | 2-1-27 | | | | 140,900,000 | | | | 146,800,180 | |
FNMA | | | 3.00 | | | | 6-1-32 | | | | 3,371,342 | | | | 3,551,875 | |
FNMA | | | 3.00 | | | | 7-1-32 | | | | 1,981,010 | | | | 2,087,091 | |
FNMA | | | 3.00 | | | | 8-1-32 | | | | 3,214,161 | | | | 3,386,277 | |
FNMA | | | 3.00 | | | | 9-1-32 | | | | 1,084,448 | | | | 1,142,520 | |
FNMA %% | | | 3.00 | | | | 1-1-42 | | | | 29,200,000 | | | | 30,637,189 | |
FNMA %% | | | 3.00 | | | | 2-1-42 | | | | 29,100,000 | | | | 30,464,064 | |
FNMA | | | 3.00 | | | | 6-1-42 | | | | 327,587 | | | | 345,130 | |
FNMA | | | 3.00 | | | | 8-1-42 | | | | 935,950 | | | | 986,069 | |
FNMA | | | 3.50 | | | | 4-1-32 | | | | 885,756 | | | | 955,232 | |
FNMA | | | 3.50 | | | | 8-1-32 | | | | 9,388,011 | | | | 10,185,992 | |
FNMA | | | 3.50 | | | | 9-1-32 | | | | 11,112,601 | | | | 11,893,956 | |
FNMA | | | 3.50 | | | | 9-1-32 | | | | 4,834,074 | | | | 5,244,970 | |
FNMA | | | 3.50 | | | | 11-1-32 | | | | 1,449,468 | | | | 1,572,673 | |
FNMA | | | 3.50 | | | | 11-1-32 | | | | 851,212 | | | | 923,566 | |
FNMA | | | 3.50 | | | | 11-1-32 | | | | 2,326,220 | | | | 2,523,949 | |
FNMA | | | 3.50 | | | | 12-1-42 | | | | 7,683,125 | | | | 8,203,837 | |
FNMA (a) | | | 3.50 | | | | 12-25-42 | | | | 9,011,000 | | | | 9,785,382 | |
FNMA | | | 4.00 | | | | 7-1-42 | | | | 9,833,798 | | | | 10,957,221 | |
FNMA | | | 4.00 | | | | 7-1-42 | | | | 5,985,609 | | | | 6,669,411 | |
FNMA | | | 4.00 | | | | 8-1-42 | | | | 37,752,178 | | | | 42,065,025 | |
FNMA | | | 4.00 | | | | 9-1-42 | | | | 75,452,702 | | | | 84,072,496 | |
FNMA | | | 4.00 | | | | 10-1-42 | | | | 31,430,452 | | | | 35,021,099 | |
FNMA | | | 4.00 | | | | 11-1-42 | | | | 15,643,291 | | | | 17,430,396 | |
FNMA | | | 5.00 | | | | 4-1-40 | | | | 18,132,263 | | | | 19,743,525 | |
FNMA | | | 5.00 | | | | 3-1-41 | | | | 706,804 | | | | 800,093 | |
FNMA | | | 5.00 | | | | 5-1-41 | | | | 4,080,109 | | | | 4,600,779 | |
FNMA | | | 5.00 | | | | 6-1-41 | | | | 1,869,566 | | | | 2,116,323 | |
FNMA | | | 5.00 | | | | 6-1-41 | | | | 3,097,270 | | | | 3,492,517 | |
FNMA | | | 5.00 | | | | 6-1-41 | | | | 2,476,520 | | | | 2,792,552 | |
FNMA | | | 5.00 | | | | 7-1-41 | | | | 5,632,643 | | | | 6,351,434 | |
FNMA | | | 5.00 | | | | 7-1-41 | | | | 6,545,323 | | | | 7,149,450 | |
FNMA | | | 5.00 | | | | 7-1-41 | | | | 26,850,609 | | | | 30,436,484 | |
FNMA | | | 5.00 | | | | 8-1-41 | | | | 2,323,085 | | | | 2,633,331 | |
FNMA | | | 5.00 | | | | 8-1-41 | | | | 5,405,421 | | | | 6,118,865 | |
FNMA | | | 5.00 | | | | 8-1-41 | | | | 2,239,555 | | | | 2,535,147 | |
FNMA | | | 5.00 | | | | 8-1-41 | | | | 2,477,448 | | | | 2,793,600 | |
FNMA | | | 5.00 | | | | 8-1-41 | | | | 2,539,399 | | | | 2,863,455 | |
FNMA | | | 5.00 | | | | 9-1-41 | | | | 2,209,240 | | | | 2,500,830 | |
FNMA | | | 5.00 | | | | 9-1-41 | | | | 5,695,137 | | | | 6,421,902 | |
FNMA | | | 5.37 | | | | 4-1-17 | | | | 2,460,000 | | | | 2,769,961 | |
FNMA | | | 5.40 | | | | 5-1-17 | | | | 3,235,811 | | | | 3,647,816 | |
FNMA | | | 5.50 | | | | 9-1-34 | | | | 1,938,482 | | | | 2,099,364 | |
FNMA | | | 5.50 | | | | 4-1-36 | | | | 1,636,256 | | | | 1,780,304 | |
FNMA | | | 5.50 | | | | 1-15-38 | | | | 4,257,000 | | | | 4,600,042 | |
FNMA | | | 5.50 | | | | 7-1-39 | | | | 1,977,529 | | | | 2,267,802 | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Core Bond Portfolio | | | 3 | |
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Agency Securities (continued) | | | | | | | | | | | | | | | | |
FNMA ± | | | 5.97 | % | | | 9-1-37 | | | $ | 470,964 | | | $ | 514,780 | |
FNMA | | | 6.00 | | | | 5-1-17 | | | | 79,326 | | | | 84,382 | |
FNMA | | | 6.00 | | | | 11-1-17 | | | | 19,920 | | | | 21,190 | |
FNMA | | | 6.00 | | | | 4-1-22 | | | | 40,583 | | | | 44,491 | |
FNMA | | | 6.00 | | | | 2-1-29 | | | | 34,697 | | | | 38,906 | |
FNMA | | | 6.00 | | | | 3-1-33 | | | | 195,452 | | | | 219,566 | |
FNMA | | | 6.00 | | | | 11-1-33 | | | | 76,227 | | | | 85,451 | |
FNMA | | | 6.00 | | | | 3-1-34 | | | | 48,865,760 | | | | 54,659,750 | |
FNMA | | | 6.00 | | | | 8-1-34 | | | | 1,714,991 | | | | 1,922,513 | |
FNMA | | | 6.00 | | | | 8-1-34 | | | | 2,841,979 | | | | 3,178,210 | |
FNMA | | | 6.00 | | | | 11-1-34 | | | | 2,468,477 | | | | 2,754,831 | |
FNMA | | | 6.00 | | | | 4-1-35 | | | | 663,870 | | | | 744,201 | |
FNMA | | | 6.00 | | | | 4-1-35 | | | | 824,804 | | | | 922,446 | |
FNMA | | | 6.00 | | | | 4-1-35 | | | | 7,238,618 | | | | 8,078,330 | |
FNMA | | | 6.00 | | | | 12-1-35 | | | | 4,763,884 | | | | 5,340,335 | |
FNMA | | | 6.00 | | | | 8-1-36 | | | | 7,910,708 | | | | 8,828,386 | |
FNMA | | | 6.00 | | | | 7-1-37 | | | | 11,286,699 | | | | 12,593,564 | |
FNMA | | | 6.00 | | | | 7-1-37 | | | | 2,627,114 | | | | 2,945,007 | |
FNMA | | | 6.00 | | | | 10-1-38 | | | | 8,267,659 | | | | 9,084,644 | |
FNMA | | | 6.06 | | | | 9-1-16 | | | | 1,362,079 | | | | 1,500,821 | |
FNMA ± | | | 6.27 | | | | 9-1-37 | | | | 3,528,003 | | | | 3,870,147 | |
FNMA ± | | | 6.31 | | | | 7-1-37 | | | | 1,876,974 | | | | 2,054,718 | |
FNMA | | | 6.50 | | | | 6-1-17 | | | | 87,410 | | | | 93,613 | |
FNMA | | | 6.50 | | | | 7-1-17 | | | | 115,934 | | | | 126,092 | |
FNMA | | | 6.50 | | | | 10-1-36 | | | | 4,304,904 | | | | 4,872,005 | |
FNMA | | | 7.00 | | | | 2-25-42 | | | | 5,463,217 | | | | 6,083,177 | |
FNMA Series 1998-38 Class Pl | | | 6.00 | | | | 11-25-28 | | | | 1,133,396 | | | | 1,275,299 | |
FNMA Series 1999-54 Class LH | | | 6.50 | | | | 11-25-29 | | | | 42,405 | | | | 48,463 | |
FNMA Series 2002-14 Class A2 | | | 7.00 | | | | 1-25-42 | | | | 620,973 | | | | 722,093 | |
FNMA Series 2002-33 Class A2 | | | 7.50 | | | | 6-25-32 | | | | 1,212,031 | | | | 1,484,657 | |
FNMA Series 2003-W17 Class 1A7 | | | 5.75 | | | | 8-25-33 | | | | 2,097,000 | | | | 2,454,325 | |
FNMA Series 2004-45 Class VB | | | 4.50 | | | | 10-25-28 | | | | 91,274 | | | | 92,999 | |
FNMA Series 2005-31 Class PB | | | 5.50 | | | | 4-25-35 | | | | 75,000 | | | | 92,735 | |
FNMA Series 2005-5 Class PA | | | 5.00 | | | | 1-25-35 | | | | 2,963,426 | | | | 3,223,783 | |
FNMA Series 2006-56 Class CA | | | 6.00 | | | | 7-25-36 | | | | 1,185,590 | | | | 1,317,902 | |
FNMA Series 2009-30 Class AD | | | 6.50 | | | | 4-25-39 | | | | 6,505,950 | | | | 7,088,408 | |
FNMA Series 2009-93 Class PD | | | 4.50 | | | | 9-25-39 | | | | 2,603,008 | | | | 2,836,575 | |
FNMA Series 2009-M01 Class A2 | | | 4.29 | | | | 7-25-19 | | | | 7,116,000 | | | | 8,272,051 | |
FNMA Series 2009-M02 Class A3 | | | 4.00 | | | | 1-25-19 | | | | 6,433,000 | | | | 7,340,059 | |
FNMA Series 2010-054 Class EA | | | 4.50 | | | | 6-25-40 | | | | 8,683,537 | | | | 9,496,768 | |
FNMA Series 2010-M01 Class A2 | | | 4.45 | | | | 9-25-19 | | | | 2,860,000 | | | | 3,281,764 | |
FNMA Series 2010-M03 Class A3 ± | | | 4.33 | | | | 3-25-20 | | | | 20,018,000 | | | | 23,324,333 | |
FNMA Series 2011 Class 53 | | | 4.50 | | | | 6-25-41 | | | | 6,295,163 | | | | 6,734,257 | |
FNMA Series 2011-53 Class TN | | | 4.00 | | | | 6-25-41 | | | | 32,997,904 | | | | 34,797,577 | |
GNMA ± | | | 3.00 | | | | 8-20-41 | | | | 3,296,679 | | | | 3,523,399 | |
GNMA ± | | | 3.00 | | | | 10-20-41 | | | | 2,270,467 | | | | 2,430,018 | |
GNMA ± | | | 3.00 | | | | 1-20-42 | | | | 418,271 | | | | 448,082 | |
GNMA ± | | | 3.50 | | | | 5-20-41 | | | | 2,320,198 | | | | 2,481,540 | |
GNMA ± | | | 3.50 | | | | 10-20-41 | | | | 2,539,552 | | | | 2,719,122 | |
GNMA | | | 6.00 | | | | 1-15-40 | | | | 16,569,548 | | | | 18,596,211 | |
| | | | |
| 4 | | Wells Fargo Advantage Core Bond Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Agency Securities (continued) | | | | | | | | | | | | | | | | |
GNMA | | | 7.00 | % | | | 11-15-29 | | | $ | 91,074 | | | $ | 108,782 | |
GNMA | | | 7.75 | | | | 9-20-20 | | | | 53,697 | | | | 55,922 | |
GNMA | | | 7.75 | | | | 3-20-21 | | | | 101,858 | | | | 114,243 | |
GNMA | | | 7.75 | | | | 7-20-21 | | | | 35,558 | | | | 36,024 | |
GNMA | | | 7.75 | | | | 8-15-21 | | | | 31,246 | | | | 31,509 | |
GNMA | | | 8.05 | | | | 7-15-19 | | | | 6,786 | | | | 6,891 | |
GNMA | | | 8.05 | | | | 7-15-19 | | | | 45,267 | | | | 50,752 | |
GNMA | | | 8.05 | | | | 8-15-19 | | | | 18,684 | | | | 18,856 | |
GNMA | | | 8.05 | | | | 9-15-19 | | | | 15,275 | | | | 15,326 | |
GNMA | | | 8.05 | | | | 10-15-19 | | | | 6,959 | | | | 6,981 | |
GNMA | | | 8.05 | | | | 10-15-19 | | | | 13,945 | | | | 13,991 | |
GNMA | | | 8.05 | | | | 11-15-19 | | | | 13,007 | | | | 13,050 | |
GNMA | | | 8.05 | | | | 11-15-19 | | | | 3,248 | | | | 3,258 | |
GNMA | | | 8.05 | | | | 2-15-20 | | | | 17,483 | | | | 17,820 | |
GNMA | | | 8.05 | | | | 10-15-20 | | | | 12,883 | | | | 12,925 | |
GNMA | | | 11.50 | | | | 5-15-13 | | | | 371 | | | | 373 | |
GNMA | | | 11.50 | | | | 6-15-13 | | | | 53 | | | | 53 | |
GNMA Series 2002-95 Class DB | | | 6.00 | | | | 1-25-33 | | | | 5,357,000 | | | | 6,066,288 | |
GNMA Series 2003-79 Class PV | | | 5.50 | | | | 10-20-23 | | | | 2,134,913 | | | | 2,358,097 | |
| | | | |
Total Agency Securities (Cost $1,282,483,964) | | | | | | | | | | | | | | | 1,310,602,423 | |
| | | | | | | | | | | | | | | | |
| | | | |
Asset-Backed Securities: 14.12% | | | | | | | | | | | | | | | | |
Ally Auto Receivables Trust Series 2010-5 Class A4 | | | 1.75 | | | | 3-15-16 | | | | 9,783,000 | | | | 9,976,733 | |
Ally Auto Receivables Trust Series 2011-1 Class A4 | | | 2.23 | | | | 3-15-16 | | | | 11,847,000 | | | | 12,169,558 | |
Ally Auto Receivables Trust Series 2011-4 Class A2 | | | 0.65 | | | | 3-17-14 | | | | 801,576 | | | | 801,858 | |
Ally Auto Receivables Trust Series 2012-4 Class A2 | | | 0.48 | | | | 5-15-15 | | | | 11,884,000 | | | | 11,884,594 | |
Ally Master Owner Trust Series 2012-1 Class A1 ± | | | 1.01 | | | | 2-15-17 | | | | 7,644,000 | | | | 7,712,223 | |
Ally Master Owner Trust Series 2012-3 Class A1 ± | | | 0.91 | | | | 6-15-17 | | | | 5,006,000 | | | | 5,037,943 | |
Ally Master Owner Trust Series 2012-5 Class A | | | 1.54 | | | | 9-15-19 | | | | 4,566,000 | | | | 4,571,854 | |
American Express Credit Account Master Trust Series 2009-2 Class A ± | | | 1.46 | | | | 3-15-17 | | | | 4,316,000 | | | | 4,406,619 | |
American Express Credit Account Master Trust Series 2012-3 Class A ± | | | 0.36 | | | | 3-15-18 | | | | 5,318,000 | | | | 5,326,360 | |
American Express Credit Account Master Trust Series 2012-4 Class A ± | | | 0.45 | | | | 5-15-20 | | | | 16,856,000 | | | | 16,889,543 | |
AmeriCredit Automobile Receivables Trust Series 2012-4 Class A2 | | | 0.49 | | | | 4-8-16 | | | | 5,042,000 | | | | 5,044,007 | |
AmeriCredit Automobile Receivables Trust Series 2012-4 Class A3 | | | 0.67 | | | | 6-8-17 | | | | 4,583,000 | | | | 4,585,768 | |
BMW Floorplan Master Owner Trust Series 2012-1A Class A ±144A | | | 0.61 | | | | 9-15-17 | | | | 5,551,000 | | | | 5,562,457 | |
Capital One Multi-Asset Execution Trust Series 2006-A5 Class A5 ± | | | 0.27 | | | | 1-15-16 | | | | 734,000 | | | | 733,894 | |
Capital One Multi-Asset Execution Trust Series 2007-A8 Class A8 ± | | | 0.69 | | | | 10-15-15 | | | | 13,083,000 | | | | 13,084,230 | |
Chase Issuance Trust Series 2008-A13 Class A13 ± | | | 1.89 | | | | 9-15-15 | | | | 12,439,000 | | | | 12,589,114 | |
Chase Issuance Trust Series 2011-A2 Class A2 ± | | | 0.30 | | | | 5-15-15 | | | | 24,987,000 | | | | 25,001,967 | |
Chase Issuance Trust Series 2012-A6 Class A ± | | | 0.34 | | | | 8-15-17 | | | | 51,409,000 | | | | 51,451,207 | |
Developers Diversified Realty Corporation Trust Series 2009-DDR1 Class A 144A | | | 3.81 | | | | 10-14-22 | | | | 10,760,132 | | | | 11,297,526 | |
Discover Card Master Trust Series 2007-A2 Class A2 ± | | | 0.73 | | | | 6-15-15 | | | | 5,458,000 | | | | 5,458,775 | |
Ford Credit Floorplan Master Trust Series 2012-4 Class A2 ± | | | 0.56 | | | | 9-15-16 | | | | 16,254,000 | | | | 16,254,000 | |
GE Capital Credit Card Master Note Trust Series 2011-1 Class A ± | | | 0.76 | | | | 1-15-17 | | | | 3,469,000 | | | | 3,487,681 | |
Honda Auto Receivables Owner Trust Series 2010-3 Class A4 | | | 0.94 | | | | 12-21-16 | | | | 10,367,000 | | | | 10,415,797 | |
Honda Auto Receivables Owner Trust Series 2012-3 Class A2 | | | 0.46 | | | | 12-15-14 | | | | 3,058,000 | | | | 3,060,067 | |
MMCA Automobile Trust Series 2011-A Class A4 144A | | | 2.02 | | | | 10-17-16 | | | | 4,745,000 | | | | 4,834,064 | |
Nelnet Student Loan Trust Series 2002-2 Class A4CP ± | | | 0.51 | | | | 9-25-24 | | | | 3,403,017 | | | | 3,396,370 | |
Nelnet Student Loan Trust Series 2005-1 Class A5 ± | | | 0.43 | | | | 10-25-33 | | | | 10,975,000 | | | | 10,196,719 | |
Nelnet Student Loan Trust Series 2005-2 Class A5 ± | | | 0.47 | | | | 3-23-37 | | | | 17,100,000 | | | | 16,005,053 | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Core Bond Portfolio | | | 5 | |
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Asset-Backed Securities (continued) | | | | | | | | | | | | | | | | |
Nelnet Student Loan Trust Series 2006-1 Class A4 ± | | | 0.40 | % | | | 11-23-22 | | | $ | 17,969,158 | | | $ | 17,915,933 | |
Nelnet Student Loan Trust Series 2006-2 Class A4 ± | | | 0.40 | | | | 10-26-26 | | | | 17,854,312 | | | | 17,833,012 | |
Nelnet Student Loan Trust Series 2007-1 Class A1 ± | | | 0.32 | | | | 11-27-18 | | | | 704,934 | | | | 703,916 | |
Nelnet Student Loan Trust Series 2007-1 Class A3 ± | | | 0.38 | | | | 5-27-25 | | | | 7,258,000 | | | | 6,842,726 | |
Nelnet Student Loan Trust Series 2007-2A Class A3L ±144A | | | 0.72 | | | | 3-25-26 | | | | 19,677,000 | | | | 19,141,294 | |
Nelnet Student Loan Trust Series 2012-5 Class A ±144A | | | 0.81 | | | | 10-27-36 | | | | 9,407,000 | | | | 9,344,259 | |
Nissan Master Owner Trust Receivables Series 2012-A Class A ± | | | 0.68 | | | | 5-15-17 | | | | 3,512,000 | | | | 3,520,675 | |
Santander Drive Auto Receivables Series 2012-3 Class A2 | | | 0.83 | | | | 4-15-15 | | | | 2,735,121 | | | | 2,741,001 | |
Santander Drive Auto Receivables Series 2012-5 Class A2 | | | 0.57 | | | | 12-15-15 | | | | 3,067,000 | | | | 3,069,426 | |
Santander Drive Auto Receivables Series 2012-5 Class A3 | | | 0.83 | | | | 12-15-16 | | | | 2,293,000 | | | | 2,305,316 | |
Santander Drive Auto Receivables Series 2012-6 Class A3 | | | 0.62 | | | | 7-15-16 | | | | 1,953,000 | | | | 1,953,154 | |
SLM Student Loan Trust Series 2000-A Class A2 ± | | | 0.50 | | | | 10-28-28 | | | | 3,656,439 | | | | 3,646,811 | |
SLM Student Loan Trust Series 2003-12 Class A5 ±144A | | | 0.67 | | | | 9-15-22 | | | | 8,693,000 | | | | 8,694,843 | |
SLM Student Loan Trust Series 2005-5 Class A3 ± | | | 0.42 | | | | 4-25-25 | | | | 806,000 | | | | 796,321 | |
SLM Student Loan Trust Series 2005-6 Class A5 ± | | | 1.52 | | | | 7-27-26 | | | | 4,022,000 | | | | 4,123,596 | |
SLM Student Loan Trust Series 2005-9 Class A4 ± | | | 0.42 | | | | 1-25-23 | | | | 2,311,105 | | | | 2,310,876 | |
SLM Student Loan Trust Series 2006-6 Class A2 ± | | | 0.40 | | | | 10-25-22 | | | | 3,882,812 | | | | 3,877,143 | |
SLM Student Loan Trust Series 2006-8 Class A4 ± | | | 0.40 | | | | 10-25-21 | | | | 9,764,320 | | | | 9,728,319 | |
SLM Student Loan Trust Series 2007-2 Class A2 ± | | | 0.32 | | | | 7-25-17 | | | | 2,670,337 | | | | 2,665,798 | |
SLM Student Loan Trust Series 2007-4 Class A3 ± | | | 0.38 | | | | 1-25-22 | | | | 15,685,000 | | | | 15,694,380 | |
SLM Student Loan Trust Series 2008-6 Class A2 ± | | | 0.87 | | | | 10-25-17 | | | | 1,207,125 | | | | 1,215,795 | |
SLM Student Loan Trust Series 2011-B Class A2 144A | | | 3.74 | | | | 2-15-29 | | | | 2,211,000 | | | | 2,390,126 | |
SLM Student Loan Trust Series 2011-C Class A1 ±144A | | | 1.61 | | | | 12-15-23 | | | | 12,187,398 | | | | 12,307,469 | |
SLM Student Loan Trust Series 2012-2 Class A ± | | | 0.91 | | | | 1-25-29 | | | | 12,243,314 | | | | 12,401,486 | |
SLM Student Loan Trust Series 2012-3 Class A ± | | | 0.86 | | | | 12-26-25 | | | | 10,154,115 | | | | 10,261,708 | |
SLM Student Loan Trust Series 2012-A Class A1 ±144A | | | 1.61 | | | | 8-15-25 | | | | 11,777,064 | | | | 11,907,919 | |
SLM Student Loan Trust Series 2012-B Class A1 ±144A | | | 1.31 | | | | 12-15-21 | | | | 11,451,788 | | | | 11,538,856 | |
SLM Student Loan Trust Series 2012-C Class A1 ±144A | | | 1.31 | | | | 8-15-23 | | | | 9,829,787 | | | | 9,896,040 | |
SLM Student Loan Trust Series 2012-E Class A1 ±144A | | | 0.96 | | | | 10-16-23 | | | | 16,551,000 | | | | 16,551,033 | |
SLM Student Loan Trust Series 2012-E Class A2 ±144A | | | 1.96 | | | | 6-15-45 | | | | 9,330,000 | | | | 9,330,009 | |
SMS Student Loan Trust Series 2000-B Class A2 ± | | | 0.51 | | | | 4-28-29 | | | | 4,146,921 | | | | 4,114,653 | |
| | | | |
Total Asset-Backed Securities (Cost $517,566,890) | | | | | | | | | | | | | | | 520,059,874 | |
| | | | | | | | | | | | | | | | |
| | | | |
Corporate Bonds and Notes: 19.28% | | | | | | | | | | | | | | | | |
| | | | |
Consumer Discretionary: 1.97% | | | | | | | | | | | | | | | | |
| | | | |
| Auto Components: 0.29% | | | | | | | | | | | | | | | | |
Turlock Corporation 144A | | | 0.95 | | | | 11-2-15 | | | | 5,015,000 | | | | 5,014,428 | |
Turlock Corporation 144A | | | 2.75 | | | | 11-2-22 | | | | 4,095,000 | | | | 4,121,224 | |
Turlock Corporation 144A | | | 4.00 | | | | 11-2-32 | | | | 1,405,000 | | | | 1,427,455 | |
| | | | |
| | | | | | | | | | | | | | | 10,563,107 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Automobiles: 0.47% | | | | | | | | | | | | | | | | |
Daimler Finance North America LLC 144A | | | 1.30 | | | | 7-31-15 | | | | 8,825,000 | | | | 8,883,986 | |
Daimler Finance North America LLC 144A | | | 1.88 | | | | 9-15-14 | | | | 8,450,000 | | | | 8,572,415 | |
| | | | |
| | | | | | | | | | | | | | | 17,456,401 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Diversified Consumer Services: 0.09% | | | | | | | | | | | | | | | | |
University of Pennsylvania | | | 4.67 | | | | 9-1-12 | | | | 2,825,000 | | | | 3,244,315 | |
| | | | | | | | | | | | | | | | |
| | | | |
| 6 | | Wells Fargo Advantage Core Bond Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
| Hotels, Restaurants & Leisure: 0.20% | | | | | | | | | | | | | | | | |
Wyndham Worldwide Corporation | | | 2.95 | % | | | 3-1-17 | | | $ | 2,215,000 | | | $ | 2,233,298 | |
Wyndham Worldwide Corporation | | | 4.25 | | | | 3-1-22 | | | | 4,777,000 | | | | 4,940,799 | |
| | | | |
| | | | | | | | | | | | | | | 7,174,097 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Internet & Catalog Retail: 0.08% | | | | | | | | | | | | | | | | |
Amazon.com Incorporated | | | 2.50 | | | | 11-29-22 | | | | 2,875,000 | | | | 2,858,374 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Media: 0.63% | | | | | | | | | | | | | | | | |
DIRECTV Holdings LLC | | | 3.80 | | | | 3-15-22 | | | | 2,770,000 | | | | 2,825,098 | |
DIRECTV Holdings LLC | | | 5.15 | | | | 3-15-42 | | | | 980,000 | | | | 982,282 | |
NBCUniversal Media LLC | | | 2.88 | | | | 1-15-23 | | | | 4,404,000 | | | | 4,426,738 | |
NBCUniversal Media LLC | | | 4.45 | | | | 1-15-43 | | | | 3,148,000 | | | | 3,151,139 | |
News America Incorporated | | | 6.15 | | | | 3-1-37 | | | | 2,293,000 | | | | 2,799,654 | |
News America Incorporated | | | 6.15 | | | | 2-15-41 | | | | 1,647,000 | | | | 2,068,051 | |
Omnicom Group Incorporated | | | 3.63 | | | | 5-1-22 | | | | 4,075,000 | | | | 4,266,615 | |
Time Warner Cable Incorporated | | | 4.50 | | | | 9-15-42 | | | | 2,935,000 | | | | 2,857,595 | |
| | | | |
| | | | | | | | | | | | | | | 23,377,172 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Specialty Retail: 0.21% | | | | | | | | | | | | | | | | |
Autozone Incorporated | | | 2.88 | | | | 1-15-23 | | | | 575,000 | | | | 565,478 | |
Gap Incorporated | | | 5.95 | | | | 4-12-21 | | | | 6,398,000 | | | | 7,292,690 | |
| | | | |
| | | | | | | | | | | | | | | 7,858,168 | |
| | | | | | | | | | | | | | | | |
| | | | |
Consumer Staples: 1.88% | | | | | | | | | | | | | | | | |
| | | | |
| Beverages: 1.12% | | | | | | | | | | | | | | | | |
Anheuser Busch InBev Worldwide Incorporated | | | 0.80 | | | | 7-15-15 | | | | 12,060,000 | | | | 12,100,920 | |
Anheuser Busch InBev Worldwide Incorporated | | | 1.38 | | | | 7-15-17 | | | | 10,007,000 | | | | 10,113,214 | |
Coca-Cola Company | | | 1.80 | | | | 9-1-16 | | | | 7,179,000 | | | | 7,432,656 | |
PepsiCo Incorporated | | | 1.25 | | | | 8-13-17 | | | | 7,236,000 | | | | 7,322,629 | |
PepsiCo Incorporated | | | 2.50 | | | | 5-10-16 | | | | 4,190,000 | | | | 4,441,823 | |
| | | | |
| | | | | | | | | | | | | | | 41,411,242 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Food & Staples Retailing: 0.07% | | | | | | | | | | | | | | | | |
Wal-Mart Stores Incorporated | | | 5.63 | | | | 4-15-41 | | | | 1,850,000 | | | | 2,454,759 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Food Products: 0.55% | | | | | | | | | | | | | | | | |
ConAgra Foods Incorporated | | | 1.35 | | | | 9-10-15 | | | | 2,770,000 | | | | 2,771,933 | |
Ingredion Incorporated | | | 1.80 | | | | 9-25-17 | | | | 1,015,000 | | | | 1,013,223 | |
Kraft Foods Incorporated 144A | | | 5.00 | | | | 6-4-42 | | | | 2,270,000 | | | | 2,540,727 | |
Kraft Foods Incorporated | | | 5.38 | | | | 2-10-20 | | | | 1,900,000 | | | | 2,310,427 | |
Kraft Foods Incorporated 144A | | | 6.50 | | | | 2-9-40 | | | | 3,160,000 | | | | 4,172,897 | |
Tyson Foods Incorporated | | | 4.50 | | | | 6-15-22 | | | | 6,930,000 | | | | 7,464,996 | |
| | | | |
| | | | | | | | | | | | | | | 20,274,203 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Tobacco: 0.14% | | | | | | | | | | | | | | | | |
Philip Morris International Incorporated | | | 1.13 | | | | 8-21-17 | | | | 5,247,000 | | | | 5,255,873 | |
| | | | | | | | | | | | | | | | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Core Bond Portfolio | | | 7 | |
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Energy: 1.84% | | | | | | | | | | | | | | | | |
| | | | |
| Energy Equipment & Services: 0.05% | | | | | | | | | | | | | | | | |
FMG Technologies Incorporated | | | 3.45 | % | | | 10-1-22 | | | $ | 82,000 | | | $ | 83,977 | |
Kinder Morgan Energy Partners LP | | | 5.00 | | | | 8 -15-42 | | | | 1,627,000 | | | | 1,661,187 | |
| | | | |
| | | | | | | | | | | | | | | 1,745,164 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Oil, Gas & Consumable Fuels: 1.79% | | | | | | | | | | | | | | | | |
Apache Corporation | | | 2.63 | | | | 1-15-23 | | | | 7,035,000 | | | | 7,058,687 | |
Apache Corporation | | | 4.25 | | | | 1-15-44 | | | | 2,690,000 | | | | 2,734,334 | |
Chevron Corporation | | | 1.10 | | | | 12-5-17 | | | | 7,030,000 | | | | 7,072,433 | |
DCP Midstream Operating Company | | | 2.50 | | | | 12-1-17 | | | | 6,265,000 | | | | 6,256,793 | |
DCP Midstream Operating Company | | | 4.95 | | | | 4-1-22 | | | | 5,283,000 | | | | 5,705,925 | |
El Paso Pipeline Partners Operating LLC | | | 4.10 | | | | 11-15-15 | | | | 4,040,000 | | | | 4,350,632 | |
El Paso Pipeline Partners Operating LLC | | | 4.70 | | | | 11-1-42 | | | | 1,910,000 | | | | 1,878,602 | |
Energen Corporation | | | 4.63 | | | | 9-1-21 | | | | 4,960,000 | | | | 5,236,659 | |
Energy Transfer Partners LP | | | 6.50 | | | | 2-1-42 | | | | 1,582,000 | | | | 1,845,971 | |
EOG Resources Incorporated | | | 2.63 | | | | 3-15-23 | | | | 1,308,000 | | | | 1,326,750 | |
Kerr-McGee Corporation | | | 6.95 | | | | 7-1-24 | | | | 6,070,000 | | | | 7,836,048 | |
Marathon Petroleum Corporation | | | 6.50 | | | | 3-1-41 | | | | 1,929,000 | | | | 2,392,857 | |
MidAmerican Energy Holdings Company | | | 6.50 | | | | 9-15-37 | | | | 1,295,000 | | | | 1,749,873 | |
Murphy Oil Corporation | | | 2.50 | | | | 12-1-17 | | | | 3,015,000 | | | | 3,032,201 | |
Murphy Oil Corporation | | | 3.70 | | | | 12-1-22 | | | | 4,020,000 | | | | 4,017,978 | |
Western Gas Partners | | | 4.00 | | | | 7-1-22 | | | | 2,149,000 | | | | 2,251,765 | |
Western Gas Partners | | | 5.38 | | | | 6-1-21 | | | | 1,180,000 | | | | 1,353,401 | |
| | | | |
| | | | | | | | | | | | | | | 66,100,909 | |
| | | | | | | | | | | | | | | | |
| | | | |
Financials: 8.62% | | | | | | | | | | | | | | | | |
| | | | |
| Capital Markets: 0.91% | | | | | | | | | | | | | | | | |
Goldman Sachs Group Incorporated | | | 5.75 | | | | 1-24-22 | | | | 1,795,000 | | | | 2,129,082 | |
Goldman Sachs Group Incorporated | | | 6.15 | | | | 4-1-18 | | | | 4,760,000 | | | | 5,559,061 | |
Goldman Sachs Group Incorporated | | | 6.25 | | | | 2-1-41 | | | | 1,815,000 | | | | 2,201,571 | |
Goldman Sachs Group Incorporated | | | 6.75 | | | | 10-1-37 | | | | 895,000 | | | | 994,144 | |
Lazard Group LLC | | | 6.85 | | | | 6-15-17 | | | | 8,130,000 | | | | 9,387,036 | |
Lazard Group LLC | | | 7.13 | | | | 5-15-15 | | | | 5,232,000 | | | | 5,801,195 | |
Morgan Stanley | | | 5.50 | | | | 7-24-20 | | | | 1,855,000 | | | | 2,092,889 | |
Morgan Stanley | | | 5.50 | | | | 7-28-21 | | | | 4,613,000 | | | | 5,271,626 | |
| | | | |
| | | | | | | | | | | | | | | 33,436,604 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Commercial Banks: 0.68% | | | | | | | | | | | | | | | | |
BB&T Corporation | | | 1.45 | | | | 1-12-18 | | | | 8,010,000 | | | | 8,045,580 | |
HSBC USA Incorporated | | | 2.38 | | | | 2-13-15 | | | | 5,405,000 | | | | 5,564,999 | |
Inter-American Development Bank Series EMTN | | | 3.88 | | | | 10-28-41 | | | | 4,635,000 | | | | 5,097,276 | |
PNC Bank NA | | | 2.70 | | | | 11-1-22 | | | | 1,665,000 | | | | 1,669,865 | |
PNC Financial Services Group Incorporated | | | 2.85 | | | | 11-9-22 | | | | 4,456,000 | | | | 4,544,313 | |
| | | | |
| | | | | | | | | | | | | | | 24,922,033 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Consumer Finance: 0.80% | | | | | | | | | | | | | | | | |
American Express Credit Corporation | | | 1.75 | | | | 6-12-15 | | | | 9,215,000 | | | | 9,408,755 | |
Ford Motor Credit Company LLC | | | 2.75 | | | | 5-15-15 | | | | 8,940,000 | | | | 9,103,414 | |
Ford Motor Credit Company LLC | | | 5.88 | | | | 8-2-21 | | | | 9,733,000 | | | | 11,145,823 | |
| | | | |
| | | | | | | | | | | | | | | 29,657,992 | |
| | | | | | | | | | | | | | | | |
| | | | |
| 8 | | Wells Fargo Advantage Core Bond Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
| Diversified Financial Services: 3.79% | | | | | | | | | | | | | | | | |
Bank of America Corporation | | | 1.50 | % | | | 10-9-15 | | | $ | 14,220,000 | | | $ | 14,269,742 | |
Bank of America Corporation | | | 5.70 | | | | 1-24-22 | | | | 930,000 | | | | 1,130,481 | |
Bank of America Corporation | | | 5.88 | | | | 1-5-21 | | | | 1,795,000 | | | | 2,143,593 | |
Bank of America Corporation | | | 6.00 | | | | 9-1-17 | | | | 4,980,000 | | | | 5,793,359 | |
Citigroup Incorporated | | | 2.65 | | | | 3-2-15 | | | | 2,943,000 | | | | 3,028,883 | |
Citigroup Incorporated | | | 4.45 | | | | 1-10-17 | | | | 6,219,000 | | | | 6,898,749 | |
Citigroup Incorporated | | | 4.50 | | | | 1-14-22 | | | | 7,786,000 | | | | 8,752,834 | |
Citigroup Incorporated | | | 5.88 | | | | 1-30-42 | | | | 1,000,000 | | | | 1,243,971 | |
Citigroup Incorporated | | | 6.13 | | | | 5-15-18 | | | | 811,000 | | | | 970,348 | |
General Electric Capital Corporation | | | 1.63 | | | | 7-2-15 | | | | 5,610,000 | | | | 5,689,718 | |
General Electric Capital Corporation | | | 3.15 | | | | 9-7-22 | | | | 9,114,000 | | | | 9,317,051 | |
General Electric Capital Corporation | | | 5.55 | | | | 5-4-20 | | | | 4,485,000 | | | | 5,339,854 | |
General Electric Capital Corporation | | | 5.88 | | | | 1-14-38 | | | | 1,795,000 | | | | 2,171,928 | |
General Electric Capital Corporation | | | 6.88 | | | | 1-10-39 | | | | 1,989,000 | | | | 2,693,349 | |
JPMorgan Chase & Company | | | 1.10 | | | | 10-15-15 | | | | 6,337,000 | | | | 6,332,710 | |
JPMorgan Chase & Company | | | 2.00 | | | | 8-15-17 | | | | 7,298,000 | | | | 7,433,436 | |
JPMorgan Chase & Company | | | 3.25 | | | | 9-23-22 | | | | 1,850,000 | | | | 1,911,875 | |
JPMorgan Chase & Company | | | 4.50 | | | | 1-24-22 | | | | 1,785,000 | | | | 2,017,928 | |
JPMorgan Chase & Company | | | 4.65 | | | | 6-1-14 | | | | 5,593,000 | | | | 5,906,778 | |
JPMorgan Chase & Company | | | 5.40 | | | | 1-6-42 | | | | 1,955,000 | | | | 2,363,974 | |
Murray Street Investment Trust I | | | 4.65 | | | | 3-9-17 | | | | 13,750,000 | | | | 14,759,305 | |
Private Export Funding Corporation | | | 1.45 | | | | 8-15-19 | | | | 9,911,000 | | | | 10,037,732 | |
Private Export Funding Corporation | | | 2.05 | | | | 11-15-22 | | | | 7,368,000 | | | | 7,404,899 | |
Private Export Funding Corporation | | | 2.45 | | | | 7-15-24 | | | | 7,823,000 | | | | 8,027,634 | |
Safina Limited | | | 1.55 | | | | 1-15-22 | | | | 3,842,189 | | | | 3,852,409 | |
| | | | |
| | | | | | | | | | | | | | | 139,492,540 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Insurance: 1.45% | | | | | | | | | | | | | | | | |
American International Group Incorporated | | | 4.88 | | | | 6-1-22 | | | | 3,594,000 | | | | 4,040,716 | |
American International Group Incorporated | | | 6.40 | | | | 12-15-20 | | | | 2,685,000 | | | | 3,289,866 | |
Berkshire Hathaway Financial Incorporated | | | 4.40 | | | | 5-15-42 | | | | 1,470,000 | | | | 1,533,636 | |
Hartford Financial Services Group | | | 6.63 | | | | 4-15-42 | | | | 1,265,000 | | | | 1,583,254 | |
Liberty Mutual Group Incorporated 144A | | | 6.50 | | | | 5-1-42 | | | | 2,427,000 | | | | 2,682,141 | |
Markel Corporation | | | 4.90 | | | | 7-1-22 | | | | 2,485,000 | | | | 2,699,244 | |
MetLife Global Funding I ±144A | | | 0.73 | | | | 3-19-14 | | | | 19,510,000 | | | | 19,527,949 | |
MetLife Incorporated | | | 4.13 | | | | 8-13-42 | | | | 1,459,000 | | | | 1,451,747 | |
OneBeacon US Holdings Incorporated | | | 4.60 | | | | 11-9-22 | | | | 4,975,000 | | | | 5,043,784 | |
Prudential Financial Incorporated | | | 5.63 | | | | 5-12-41 | | | | 1,122,000 | | | | 1,279,228 | |
Prudential Financial Incorporated ± | | | 5.63 | | | | 6-15-43 | | | | 3,755,000 | | | | 3,764,388 | |
Swiss Re Treasury Company 144A | | | 4.25 | | | | 12-6-42 | | | | 2,140,000 | | | | 2,120,635 | |
Swiss Re Treasury US Corporation 144A | | | 2.88 | | | | 12-6-22 | | | | 2,140,000 | | | | 2,137,978 | |
WR Berkley Corporation | | | 4.63 | | | | 3-15-22 | | | | 2,244,000 | | | | 2,408,189 | |
| | | | |
| | | | | | | | | | | | | | | 53,562,755 | |
| | | | | | | | | | | | | | | | |
| | | | |
| REITs: 0.99% | | | | | | | | | | | | | | | | |
Boston Properties LP | | | 3.85 | | | | 2-1-23 | | | | 4,525,000 | | | | 4,806,184 | |
DDR Corporation « | | | 4.63 | | | | 7-15-22 | | | | 4,235,000 | | | | 4,606,833 | |
Equity One Incorporated | | | 3.75 | | | | 11-15-22 | | | | 1,764,000 | | | | 1,761,587 | |
Federal Realty Investment Trust | | | 3.00 | | | | 8-1-22 | | | | 2,125,000 | | | | 2,113,293 | |
HCP Incorporated | | | 2.63 | | | | 2-1-20 | | | | 6,220,000 | | | | 6,194,703 | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Core Bond Portfolio | | | 9 | |
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
| REITs (continued) | | | | | | | | | | | | | | | | |
HCP Incorporated | | | 3.75 | % | | | 2-1-19 | | | $ | 6,340,000 | | | $ | 6,711,809 | |
HCP Incorporated | | | 5.65 | | | | 12-15-13 | | | | 5,040,000 | | | | 5,279,022 | |
WEA Finance LLC 144A | | | 3.38 | | | | 10-3-22 | | | | 3,146,000 | | | | 3,201,068 | |
WEA Finance LLC 144A | | | 4.63 | | | | 5-10-21 | | | | 1,620,000 | | | | 1,807,620 | |
| | | | |
| | | | | | | | | | | | | | | 36,482,119 | |
| | | | | | | | | | | | | | | | |
| | | | |
Health Care: 2.00% | | | | | | | | | | | | | | | | |
| | | | |
| Biotechnology: 0.49% | | | | | | | | | | | | | | | | |
Amgen Incorporated | | | 5.15 | | | | 11-15-41 | | | | 930,000 | | | | 1,058,334 | |
Amgen Incorporated | | | 5.38 | | | | 5-15-43 | | | | 4,690,000 | | | | 5,530,856 | |
Celgene Corporation | | | 3.25 | | | | 8-15-22 | | | | 7,335,000 | | | | 7,527,866 | |
Gilead Sciences Incorporated | | | 4.50 | | | | 4-1-21 | | | | 3,422,000 | | | | 3,937,131 | |
| | | | |
| | | | | | | | | | | | | | | 18,054,187 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Health Care Equipment & Supplies: 0.11% | | | | | | | | | | | | | | | | |
Boston Scientific Corporation | | | 6.40 | | | | 6-15-16 | | | | 3,610,000 | | | | 4,175,391 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Health Care Providers & Services: 0.73% | | | | | | | | | | | | | | | | |
Coventry Health Care Incorporated | | | 5.95 | | | | 3-15-17 | | | | 5,218,000 | | | | 6,103,688 | |
Express Scripts Holding Company 144A | | | 2.10 | | | | 2-12-15 | | | | 7,855,000 | | | | 8,011,479 | |
Express Scripts Holding Company 144A | | | 2.65 | | | | 2-15-17 | | | | 1,396,000 | | | | 1,458,227 | |
Unitedhealth Group Incorporated | | | 1.40 | | | | 10-15-17 | | | | 2,526,000 | | | | 2,542,853 | |
Unitedhealth Group Incorporated | | | 2.75 | | | | 2-15-23 | | | | 230,000 | | | | 233,294 | |
Unitedhealth Group Incorporated | | | 3.95 | | | | 10-15-42 | | | | 1,108,000 | | | | 1,097,599 | |
WellPoint Incorporated | | | 1.25 | | | | 9-10-15 | | | | 1,455,000 | | | | 1,467,909 | |
WellPoint Incorporated | | | 1.88 | | | | 1-15-18 | | | | 2,100,000 | | | | 2,137,670 | |
WellPoint Incorporated | | | 3.13 | | | | 5-15-22 | | | | 1,850,000 | | | | 1,881,700 | |
WellPoint Incorporated | | | 4.63 | | | | 5-15-42 | | | | 1,675,000 | | | | 1,744,193 | |
| | | | |
| | | | | | | | | | | | | | | 26,678,612 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Life Sciences Tools & Services: 0.09% | | | | | | | | | | | | | | | | |
Life Technologies Corporation | | | 5.00 | | | | 1-15-21 | | | | 2,881,000 | | | | 3,267,290 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Pharmaceuticals: 0.58% | | | | | | | | | | | | | | | | |
Abbvie Incorporated 144A | | | 1.20 | | | | 11-6-15 | | | | 9,440,000 | | | | 9,482,216 | |
Abbvie Incorporated 144A | | | 1.75 | | | | 11-6-17 | | | | 4,705,000 | | | | 4,769,976 | |
Novartis Capital Corporation | | | 2.40 | | | | 9-21-22 | | | | 3,715,000 | | | | 3,740,392 | |
Watson Pharmaceuticals Incorporated | | | 1.88 | | | | 10-1-17 | | | | 3,252,000 | | | | 3,311,853 | |
| | | | |
| | | | | | | | | | | | | | | 21,304,437 | |
| | | | | | | | | | | | | | | | |
| | | | |
Industrials: 0.24% | | | | | | | | | | | | | | | | |
| | | | |
| Building Products: 0.07% | | | | | | | | | | | | | | | | |
Owens Corning Incorporated | | | 4.20 | | | | 12-15-22 | | | | 2,700,000 | | | | 2,735,265 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Road & Rail: 0.17% | | | | | | | | | | | | | | | | |
ERAC USA Finance Company 144A | | | 3.30 | | | | 10-15-22 | | | | 1,366,000 | | | | 1,369,852 | |
ERAC USA Finance Company 144A | | | 5.63 | | | | 3-15-42 | | | | 4,283,000 | | | | 4,803,132 | |
| | | | |
| | | | | | | | | | | | | | | 6,172,984 | |
| | | | | | | | | | | | | | | | |
| | | | |
| 10 | | Wells Fargo Advantage Core Bond Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Information Technology: 0.24% | | | | | | | | | | | | | | | | |
| | | | |
| Software: 0.24% | | | | | | | | | | | | | | | | |
Oracle Corporation | | | 1.20 | % | | | 10-15-17 | | | $ | 6,245,000 | | | $ | 6,257,353 | |
Oracle Corporation | | | 2.50 | | | | 10-15-22 | | | | 2,662,000 | | | | 2,693,185 | |
| | | | |
| | | | | | | | | | | | | | | 8,950,538 | |
| | | | | | | | | | | | | | | | |
| | | | |
Materials: 0.08% | | | | | | | | | | | | | | | | |
| | | | |
| Chemicals: 0.08% | | | | | | | | | | | | | | | | |
Dow Chemical Company | | | 5.25 | | | | 11-15-41 | | | | 2,600,000 | | | | 2,886,900 | |
| | | | | | | | | | | | | | | | |
| | | | |
Telecommunication Services: 0.61% | | | | | | | | | | | | | | | | |
| | | | |
| Diversified Telecommunication Services: 0.39% | | | | | | | | | | | | | | | | |
AT&T Incorporated | | | 1.60 | | | | 2-15-17 | | | | 5,630,000 | | | | 5,722,287 | |
AT&T Incorporated | | | 5.55 | | | | 8-15-41 | | | | 5,420,000 | | | | 6,485,897 | |
CenturyLink Incorporated | | | 7.65 | | | | 3-15-42 | | | | 1,985,000 | | | | 2,067,185 | |
| | | | |
| | | | | | | | | | | | | | | 14,275,369 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Wireless Telecommunication Services: 0.22% | | | | | | | | | | | | | | | | |
American Tower Corporation | | | 4.50 | | | | 1-15-18 | | | | 5,650,000 | | | | 6,200,841 | |
American Tower Corporation | | | 5.05 | | | | 9-1-20 | | | | 1,649,000 | | | | 1,854,657 | |
| | | | |
| | | | | | | | | | | | | | | 8,055,498 | |
| | | | | | | | | | | | | | | | |
| | | | |
Utilities: 1.80% | | | | | | | | | | | | | | | | |
| | | | |
| Electric Utilities: 1.23% | | | | | | | | | | | | | | | | |
Alabama Power Company | | | 3.85 | | | | 12-1-42 | | | | 2,510,000 | | | | 2,499,380 | |
Ameren Corporation | | | 2.70 | | | | 9-1-22 | | | | 5,500,000 | | | | 5,563,008 | |
Ameren Corporation | | | 8.88 | | | | 5-15-14 | | | | 4,050,000 | | | | 4,465,899 | |
American Electric Power Company | | | 1.65 | | | | 12-15-17 | | | | 5,420,000 | | | | 5,433,550 | |
Arizona Public Service Company | | | 4.50 | | | | 4-1-42 | | | | 2,486,000 | | | | 2,652,860 | |
Duke Energy Indiana Incorporated | | | 1.63 | | | | 8-15-17 | | | | 2,705,000 | | | | 2,731,558 | |
Duke Energy Indiana Incorporated | | | 4.20 | | | | 3-15-42 | | | | 4,580,000 | | | | 4,815,073 | |
Niagara Mohawk Power Incorporated 144A | | | 4.12 | | | | 11-28-42 | | | | 2,135,000 | | | | 2,147,836 | |
PPL Capital Funding Incorporated | | | 3.50 | | | | 12-1-22 | | | | 3,045,000 | | | | 3,105,090 | |
Progress Energy Incorporated | | | 3.15 | | | | 4-1-22 | | | | 1,916,000 | | | | 1,957,037 | |
Progress Energy Incorporated | | | 4.10 | | | | 5-15-42 | | | | 2,140,000 | | | | 2,251,575 | |
Southwestern Electric Power Company | | | 3.55 | | | | 2-15-22 | | | | 5,955,000 | | | | 6,306,732 | |
West Mass Electric Company | | | 3.50 | | | | 9-15-21 | | | | 1,260,000 | | | | 1,351,933 | |
| | | | |
| | | | | | | | | | | | | | | 45,281,531 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Gas Utilities: 0.22% | | | | | | | | | | | | | | | | |
Northern Natural Gas Company 144A | | | 4.10 | | | | 9-15-42 | | | | 2,645,000 | | | | 2,712,040 | |
ONEOK Partners LP | | | 2.00 | | | | 10-1-17 | | | | 3,310,000 | | | | 3,346,827 | |
ONEOK Partners LP | | | 6.13 | | | | 2-1-41 | | | | 1,580,000 | | | | 1,914,157 | |
| | | | |
| | | | | | | | | | | | | | | 7,973,024 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Multi-Utilities: 0.35% | | | | | | | | | | | | | | | | |
CMS Energy Corporation | | | 2.75 | | | | 5-15-14 | | | | 2,445,000 | | | | 2,481,465 | |
Dominion Resources Incorporated | | | 8.88 | | | | 1-15-19 | | | | 4,320,000 | | | | 5,896,251 | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Core Bond Portfolio | | | 11 | |
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
| Multi-Utilities (continued) | | | | | | | | | | | | | | | | |
Public Service Colorado | | | 3.60 | % | | | 9-15-42 | | | $ | 4,565,000 | | | $ | 4,479,589 | |
| | | | |
| | | | | | | | | | | | | | | 12,857,305 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Corporate Bonds and Notes (Cost $686,653,690) | | | | | | | | | | | | | | | 709,996,158 | |
| | | | | | | | | | | | | | | | |
| | | | |
Municipal Obligations: 1.10% | | | | | | | | | | | | | | | | |
| | | | |
| California: 0.27% | | | | | | | | | | | | | | | | |
California Build America Bonds (GO) | | | 7.60 | | | | 11-1-40 | | | | 3,205,000 | | | | 4,721,253 | |
Los Angeles CA Community College District Build America Bonds (Tax Revenue) | | | 6.75 | | | | 8-1-49 | | | | 3,660,000 | | | | 5,150,864 | |
| | | | |
| | | | | | | | | | | | | | | 9,872,117 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Illinois: 0.18% | | | | | | | | | | | | | | | | |
Illinois Finance Authority (Tax Revenue) | | | 5.37 | | | | 3-1-17 | | | | 2,095,000 | | | | 2,335,066 | |
Illinois Finance Authority (Tax Revenue) | | | 5.67 | | | | 3-1-18 | | | | 1,895,000 | | | | 2,170,571 | |
Illinois Finance Authority (Tax Revenue) | | | 5.88 | | | | 3-1-19 | | | | 1,780,000 | | | | 2,064,035 | |
| | | | |
| | | | | | | | | | | | | | | 6,569,672 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Nevada: 0.14% | | | | | | | | | | | | | | | | |
Clark County NV Airport Authority (Airport Revenue) | | | 6.82 | | | | 7-1-45 | | | | 3,590,000 | | | | 5,217,670 | |
| | | | | | | | | | | | | | | | |
| | | | |
| New Jersey: 0.18% | | | | | | | | | | | | | | | | |
New Jersey State Turnpike Authority (Transportation Revenue) | | | 7.10 | | | | 1-1-41 | | | | 4,665,000 | | | | 6,744,657 | |
| | | | | | | | | | | | | | | | |
| | | | |
| New York: 0.14% | | | | | | | | | | | | | | | | |
Port Authority of New York and New Jersey Consolidated Bonds Series 174 (Port Authority Revenue) | | | 4.46 | | | | 10-1-62 | | | | 4,990,000 | | | | 5,004,321 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Ohio: 0.04% | | | | | | | | | | | | | | | | |
Ohio State University Taxable Series A (Education Revenue) | | | 4.80 | | | | 6-1-11 | | | | 1,315,000 | | | | 1,528,135 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Texas: 0.15% | | | | | | | | | | | | | | | | |
North Texas Tollway Authority (Transportation Revenue) | | | 6.72 | | | | 1-1-49 | | | | 4,159,000 | | | | 5,702,696 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Municipal Obligations (Cost $33,047,469) | | | | | | | | | | | | | | | 40,639,268 | |
| | | | | | | | | | | | | | | | |
| | | | |
Non-Agency Mortgage Backed Securities: 6.73% | | | | | | | | | | | | | | | | |
Bank of America Commercial Mortgage Incorporated Series 2002-PB2 Class B | | | 6.31 | | | | 6-11-35 | | | | 220,374 | | | | 220,435 | |
Bank of America Commercial Mortgage Incorporated Series 2004-6 Class A3 | | | 4.51 | | | | 12-10-42 | | | | 404,221 | | | | 409,409 | |
Bear Stearns Commercial Mortgage Securities Incorporated Series 2005-PWR7 Class A | | | 4.95 | | | | 2-11-41 | | | | 190,577 | | | | 190,784 | |
CFCRE Commercial Mortgage Trust Series 2011-C2 Class A4 | | | 3.83 | | | | 12-15-47 | | | | 3,556,000 | | | | 3,922,208 | |
Citigroup Mortgage Loan Trust Incorporated Series 2005-C3 Class A4 | | | 4.86 | | | | 5-15-43 | | | | 4,574,000 | | | | 4,948,226 | |
Citigroup Mortgage Loan Trust Incorporated Series 2007-AHL1 Class A2A ± | | | 0.25 | | | | 12-25-36 | | | | 6,517 | | | | 6,495 | |
Commercial Mortgage Pass-Through Certificate Series 2001-J2 Class B 144A | | | 6.30 | | | | 7-16-34 | | | | 5,070,000 | | | | 5,069,650 | |
Commercial Mortgage Pass-Through Certificate Series 2012-CR1 Class A3 | | | 3.39 | | | | 5-15-45 | | | | 5,843,000 | | | | 6,280,687 | |
Commercial Mortgage Pass-Through Certificate Series 2012-CR2 Class ASB | | | 2.75 | | | | 8-15-45 | | | | 5,156,000 | | | | 5,414,233 | |
Commercial Mortgage Pass-Through Certificate Series 2012-Cr3 Class A3 | | | 2.82 | | | | 11-15-45 | | | | 7,233,000 | | | | 7,402,802 | |
Commercial Mortgage Pass-Through Certificate Series 2012-Cr3 Class ASB | | | 2.37 | | | | 11-15-45 | | | | 3,262,000 | | | | 3,360,803 | |
Commercial Mortgage Pass-Through Certificate Series 2012-LC4 Class A4 | | | 3.29 | | | | 12-10-44 | | | | 6,985,000 | | | | 7,466,700 | |
Credit Suisse First Boston Mortgage Securities Corporation Series 2005-C1 Class A3 | | | 4.81 | | | | 2-15-38 | | | | 1,306,723 | | | | 1,341,146 | |
| | | | |
| 12 | | Wells Fargo Advantage Core Bond Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Non-Agency Mortgage Backed Securities (continued) | | | | | | | | | | | | | | | | |
Credit Suisse First Boston Mortgage Securities Corporation Series 2005-C2 Class A4 | | | 4.83 | % | | | 4-15-37 | | | $ | 5,779,000 | | | $ | 6,211,194 | |
Credit Suisse Mortgage Capital Certificates Series 2006-C5 Class A3 | | | 5.31 | | | | 12-15-39 | | | | 18,499,000 | | | | 21,011,904 | |
Deutsche Bank UBS Securities Mortgage Trust Series 2011-LC2A Class A4 144A | | | 4.54 | | | | 7-10-44 | | | | 8,745,000 | | | | 10,150,776 | |
Discover Master Owners Trust Series 2011 Class A1 ± | | | 0.56 | | | | 8-15-16 | | | | 17,801,000 | | | | 17,858,800 | |
GMAC Commercial Mortgage Securities Incorporated Series 2001-C2 Class B | | | 6.79 | | | | 4-15-34 | | | | 357,114 | | | | 356,400 | |
GMAC Commercial Mortgage Securities Incorporated Series 2006-C1 Class AM ± | | | 5.29 | | | | 11-10-45 | | | | 3,506,000 | | | | 3,767,572 | |
Greenwich Capital Commercial Funding Corporation Series 2005-GG5 Class A5 ± | | | 5.22 | | | | 4-10-37 | | | | 15,359,000 | | | | 16,966,473 | |
Greenwich Capital Commercial Funding Corporation Series 2006-GG7 Class A4 ± | | | 6.06 | | | | 7-10-38 | | | | 6,582,851 | | | | 7,596,564 | |
Greenwich Capital Commercial Funding Corporation Series 2007-GG9 Class A4 | | | 5.44 | | | | 3-10-39 | | | | 5,648,000 | | | | 6,513,251 | |
GS Mortgage Securities Trust Corporation Series 2010-C1 Class A2 144A | | | 4.59 | | | | 8-10-43 | | | | 2,806,000 | | | | 3,278,727 | |
GS Mortgage Securities Trust Corporation Series 2012 Class A3 | | | 2.77 | | | | 11-10-22 | | | | 6,230,000 | | | | 6,336,248 | |
Impact Funding LLC Series 2010-1 Class A1 144A | | | 5.31 | | | | 1-25-51 | | | | 9,150,074 | | | | 10,404,943 | |
JPMorgan Chase Commercial Mortgage Securities Corporation
Series 2001-CIBC2 Class D ± | | | 6.85 | | | | 4-15-35 | | | | 1,766,000 | | | | 1,767,771 | |
JPMorgan Chase Commercial Mortgage Securities Corporation
Series 2002-C2 Class B ± | | | 5.21 | | | | 12-12-34 | | | | 705,321 | | | | 706,757 | |
JPMorgan Chase Commercial Mortgage Securities Corporation
Series 2004-LN2 Class A2 | | | 5.12 | | | | 7-15-41 | | | | 7,377,000 | | | | 7,803,221 | |
JPMorgan Chase Commercial Mortgage Securities Corporation
Series 2006-LDP9 Class A2 | | | 5.13 | | | | 5-15-47 | | | | 1,134,640 | | | | 1,190,262 | |
JPMorgan Chase Commercial Mortgage Securities Corporation
Series 2007-C1 Class A4 | | | 5.72 | | | | 2-15-51 | | | | 2,095,764 | | | | 2,480,993 | |
JPMorgan Chase Commercial Mortgage Securities Corporation
Series 2007-LD11 Class A4 ± | | | 6.00 | | | | 6-15-49 | | | | 4,062,000 | | | | 4,738,315 | |
JPMorgan Chase Commercial Mortgage Securities Corporation
Series 2010-A2 Class A2 144A | | | 4.31 | | | | 8-5-32 | | | | 3,928,000 | | | | 4,371,440 | |
JPMorgan Chase Commercial Mortgage Securities Corporation
Series 2010-CNTR Class A1 144A | | | 3.30 | | | | 8-5-32 | | | | 1,978,882 | | | | 2,122,024 | |
JPMorgan Chase Commercial Mortgage Securities Corporation
Series 2011-C3 Class A4 144A | | | 4.72 | | | | 2-15-46 | | | | 3,137,000 | | | | 3,664,182 | |
JPMorgan Chase Commercial Mortgage Securities Corporation
Series 2012-C8 Class ASB | | | 2.38 | | | | 10-15-45 | | | | 4,015,000 | | | | 4,123,626 | |
Lehman Brothers UBS Commercial Mortgage Trust Series 2004-C7 Class A5 | | | 4.63 | | | | 10-15-29 | | | | 488,956 | | | | 498,277 | |
Lehman Brothers UBS Commercial Mortgage Trust Series 2004-C8 Class A6 ± | | | 4.80 | | | | 12-15-29 | | | | 788,971 | | | | 834,743 | |
Lehman Brothers UBS Commercial Mortgage Trust Series 2006-C4 Class A3 ± | | | 5.17 | | | | 12-12-49 | | | | 9,617,000 | | | | 10,927,653 | |
Lehman Brothers UBS Commercial Mortgage Trust Series 2007-C3 Class A3 ± | | | 6.07 | | | | 7-15-44 | | | | 1,751,000 | | | | 1,842,660 | |
Merrill Lynch Mortgage Trust Series 2005-CIP1 Class A3A ± | | | 4.95 | | | | 7-12-38 | | | | 2,169,000 | | | | 2,282,352 | |
Morgan Stanley Bank Trust Series 2012-C5 Class A3 | | | 2.83 | | | | 8-15-45 | | | | 2,874,000 | | | | 3,019,249 | |
Morgan Stanley Bank Trust Series 2012-C6 Class A3 | | | 2.51 | | | | 11-15-45 | | | | 6,517,000 | | | | 6,688,716 | |
Morgan Stanley Dean Witter Capital I Series 2001-TOP3 Class A4 | | | 6.39 | | | | 7-15-33 | | | | 94,776 | | | | 95,042 | |
Morgan Stanley Dean Witter Capital I Series 2003-HQ2 Class B | | | 5.04 | | | | 3-12-35 | | | | 1,456,000 | | | | 1,462,655 | |
Morgan Stanley Dean Witter Capital I Series 2004-TP13 Class A3 | | | 4.39 | | | | 9-13-45 | | | | 337,750 | | | | 339,315 | |
Morgan Stanley Dean Witter Capital I Series 2012-C4 Class A4 | | | 3.24 | | | | 3-15-45 | | | | 8,907,000 | | | | 9,484,655 | |
Morgan Stanley Mortgage Loan Trust Series 2007-6XS Class 2A1S ± | | | 0.32 | | | | 2-25-47 | | | | 208,043 | | | | 183,604 | |
Motel 6 Trust Series 2012 Class A2 144A | | | 1.95 | | | | 10-5-25 | | | | 7,793,000 | | | | 7,819,714 | |
Sequoia Mortgage Trust Series 2010-H1 Class A1 ± | | | 3.75 | | | | 2-25-40 | | | | 375,930 | | | | 380,277 | |
Sequoia Mortgage Trust Series 2011-1 Class A1 ± | | | 4.13 | | | | 2-25-41 | | | | 709,279 | | | | 722,415 | |
Structured Asset Securities Corporation Series 1982 Class B ± | | | 4.47 | | | | 3-1-20 | | | | 106,974 | | | | 102,458 | |
Structured Asset Securities Corporation Series 1998-2 Class A ± | | | 0.73 | | | | 2-25-28 | | | | 83,401 | | | | 77,229 | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Core Bond Portfolio | | | 13 | |
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Non-Agency Mortgage Backed Securities (continued) | | | | | | | | | | | | | | | | |
UBS Barclays Commercial Mortgage Trust Series 2012- C3 Class A3 | | | 2.73 | % | | | 8-10-49 | | | $ | 4,330,000 | | | $ | 4,524,646 | |
UBS Commercial Mortgage Trust Series 2005-C3 Class A | | | 4.79 | | | | 7-15-40 | | | | 6,086,000 | | | | 6,573,446 | |
Wachovia Bank Commercial Mortgage Trust Series 2003-C7 Class A1 144A | | | 4.24 | | | | 10-15-35 | | | | 76,100 | | | | 76,774 | |
Wachovia Bank Commercial Mortgage Trust Series 2003-C8 Class A3 | | | 4.45 | | | | 11-15-35 | | | | 442,789 | | | | 447,376 | |
| | | | |
Total Non-Agency Mortgage Backed Securities (Cost $240,765,820) | | | | | | | | | | | | | | | 247,838,277 | |
| | | | | | | | | | | | | | | | |
| | | | |
U.S. Treasury Securities: 21.73% | | | | | | | | | | | | | | | | |
U.S. Treasury Bond | | | 2.75 | | | | 8-15-42 | | | | 23,980,000 | | | | 23,721,472 | |
U.S. Treasury Bond | | | 2.75 | | | | 11-15-42 | | | | 1,902,000 | | | | 1,879,117 | |
U.S. Treasury Bond | | | 3.00 | | | | 5-15-42 | | | | 33,898,000 | | | | 35,349,241 | |
U.S. Treasury Bond | | | 3.13 | | | | 11-15-41 | | | | 1,965,000 | | | | 2,104,393 | |
U.S. Treasury Bond | | | 3.13 | | | | 2-15-42 | | | | 2,797,000 | | | | 2,992,790 | |
U.S. Treasury Bond | | | 4.38 | | | | 5-15-41 | | | | 1,110,000 | | | | 1,476,821 | |
U.S. Treasury Bond | | | 4.50 | | | | 5-15-38 | | | | 21,059,000 | | | | 28,383,573 | |
U.S. Treasury Note | | | 0.25 | | | | 1-31-14 | | | | 49,574,000 | | | | 49,591,450 | |
U.S. Treasury Note « | | | 0.25 | | | | 10-31-14 | | | | 42,151,000 | | | | 42,151,000 | |
U.S. Treasury Note ## | | | 0.25 | | | | 1-15-15 | | | | 54,004,000 | | | | 53,970,248 | |
U.S. Treasury Note ## | | | 0.25 | | | | 9-15-15 | | | | 48,394,000 | | | | 48,303,261 | |
U.S. Treasury Note ## | | | 0.25 | | | | 10-15-15 | | | | 65,318,000 | | | | 65,185,339 | |
U.S. Treasury Note « | | | 0.38 | | | | 4-15-15 | | | | 46,998,000 | | | | 47,089,787 | |
U.S. Treasury Note ## | | | 0.38 | | | | 11-15-15 | | | | 129,905,000 | | | | 130,097,779 | |
U.S. Treasury Note | | | 0.63 | | | | 9-30-17 | | | | 1,212,000 | | | | 1,213,610 | |
U.S. Treasury Note | | | 0.75 | | | | 6-30-17 | | | | 16,089,000 | | | | 16,231,034 | |
U.S. Treasury Note « | | | 0.75 | | | | 10-31-17 | | | | 33,541,000 | | | | 33,771,594 | |
U.S. Treasury Note | | | 1.25 | | | | 3-15-14 | | | | 26,548,000 | | | | 26,892,301 | |
U.S. Treasury Note | | | 1.25 | | | | 10-31-19 | | | | 8,527,000 | | | | 8,657,565 | |
U.S. Treasury Note | | | 1.63 | | | | 11-15-22 | | | | 20,419,000 | | | | 20,434,947 | |
U.S. Treasury Note | | | 1.75 | | | | 3-31-14 | | | | 29,411,000 | | | | 29,999,220 | |
U.S. Treasury Note « | | | 2.38 | | | | 2-28-15 | | | | 37,816,000 | | | | 39,579,776 | |
U.S. Treasury Note ## | | | 3.00 | | | | 9-30-16 | | | | 83,341,000 | | | | 91,427,661 | |
| | | | |
Total U.S. Treasury Securities (Cost $797,651,278) | | | | | | | | | | | | | | | 800,503,979 | |
| | | | | | | | | | | | | | | | |
| | | | |
Yankee Corporate Bonds and Notes: 7.33% | | | | | | | | | | | | | | | | |
| | | | |
Consumer Discretionary: 0.27% | | | | | | | | | | | | | | | | |
| | | | |
| Media: 0.09% | | | | | | | | | | | | | | | | |
Pearson Funding Four plc 144A | | | 3.75 | | | | 5-8-22 | | | | 2,310,000 | | | | 2,453,185 | |
WPP Finance 2010 Company | | | 5.13 | | | | 9-7-42 | | | | 892,000 | | | | 894,779 | |
| | | | |
| | | | | | | | | | | | | | | 3,347,964 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Textiles, Apparel & Luxury Goods: 0.18% | | | | | | | | | | | | | | | | |
LVMH Moet Hennessy Louis 144A | | | 1.63 | | | | 6-29-17 | | | | 6,614,000 | | | | 6,686,774 | |
| | | | | | | | | | | | | | | | |
| | | | |
Consumer Staples: 0.18% | | | | | | | | | | | | | | | | |
| | | | |
| Beverages: 0.18% | | | | | | | | | | | | | | | | |
Pernod Ricard SA 144A | | | 5.75 | | | | 4-7-21 | | | | 5,446,000 | | | | 6,492,030 | |
| | | | | | | | | | | | | | | | |
| | | | |
| 14 | | Wells Fargo Advantage Core Bond Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Energy: 2.04% | | | | | | | | | | | | | | | | |
| | | | |
| Oil, Gas & Consumable Fuels: 2.04% | | | | | | | | | | | | | | | | |
APT Pipelines Limited 144A | | | 3.88 | % | | | 10-11-22 | | | $ | 4,943,000 | | | $ | 4,930,376 | |
BP Capital Markets plc | | | 1.38 | | | | 11-6-17 | | | | 6,315,000 | | | | 6,338,081 | |
BP Capital Markets plc | | | 1.85 | | | | 5-5-17 | | | | 1,740,000 | | | | 1,779,286 | |
BP Capital Markets plc | | | 2.50 | | | | 11-6-22 | | | | 3,540,000 | | | | 3,516,544 | |
Canadian Oil Sands Trust Limited 144A | | | 6.00 | | | | 4-1-42 | | | | 4,160,000 | | | | 4,887,276 | |
Husky Energy Incorporated | | | 7.25 | | | | 12-15-19 | | | | 1,339,000 | | | | 1,765,200 | |
Nexen Incorporated | | | 6.40 | | | | 5-15-37 | | | | 25,000 | | | | 31,980 | |
Petrobras International Finance Company | | | 2.88 | | | | 2-6-15 | | | | 3,495,000 | | | | 3,596,855 | |
Petrobras International Finance Company | | | 3.50 | | | | 2-6-17 | | | | 9,495,000 | | | | 10,000,276 | |
Petroleos Mexicanos Company | | | 1.70 | | | | 12-20-22 | | | | 6,408,000 | | | | 6,473,105 | |
Petroleos Mexicanos Company | | | 1.95 | | | | 12-20-22 | | | | 7,837,000 | | | | 8,011,452 | |
Petroleos Mexicanos Company | | | 2.00 | | | | 12-20-22 | | | | 2,809,000 | | | | 2,878,326 | |
Petroleos Mexicanos Company 144A | | | 5.50 | | | | 6-27-44 | | | | 1,790,000 | | | | 1,969,000 | |
Statoil ASA | | | 1.20 | | | | 1-17-18 | | | | 6,265,000 | | | | 6,293,543 | |
Talisman Energy Incorporated | | | 7.75 | | | | 6-1-19 | | | | 2,796,000 | | | | 3,605,090 | |
Total Capital International SA | | | 1.55 | | | | 6-28-17 | | | | 2,117,000 | | | | 2,161,379 | |
Transocean Incorporated | | | 6.38 | | | | 12-15-21 | | | | 5,745,000 | | | | 6,936,846 | |
| | | | |
| | | | | | | | | | | | | | | 75,174,615 | |
| | | | | | | | | | | | | | | | |
| | | | |
Financials: 3.08% | | | | | | | | | | | | | | | | |
| | | | |
| Commercial Banks: 2.52% | | | | | | | | | | | | | | | | |
Australia and New Zealand Banking Group 144A | | | 1.00 | | | | 10-6-15 | | | | 4,080,000 | | | | 4,107,516 | |
Banco Santander SA 144A | | | 4.13 | | | | 11-9-22 | | | | 4,530,000 | | | �� | 4,563,975 | |
Experian Finance plc 144A | | | 2.38 | | | | 6-15-17 | | | | 2,750,000 | | | | 2,827,165 | |
ITAU Unibanco Holdings SA 144A | | | 5.13 | | | | 5-13-23 | | | | 5,170,000 | | | | 5,247,550 | |
National Australia Bank 144A | | | 2.00 | | | | 6-20-17 | | | | 6,615,000 | | | | 6,861,574 | |
NIBC Bank NV 144A | | | 2.80 | | | | 12-2-14 | | | | 4,705,000 | | | | 4,892,363 | |
Nordea Bank AB 144A | | | 2.25 | | | | 3-20-15 | | | | 7,475,000 | | | | 7,670,845 | |
Nordea Bank AB 144A | | | 4.88 | | | | 5-13-21 | | | | 3,135,000 | | | | 3,326,063 | |
Rabobank Nederland | | | 3.95 | | | | 11-9-22 | | | | 8,780,000 | | | | 8,890,777 | |
Royal Bank of Scotland Group plc | | | 2.55 | | | | 9-18-15 | | | | 16,058,000 | | | | 16,430,321 | |
Royal Bank of Scotland Group plc | | | 6.13 | | | | 12-15-22 | | | | 5,030,000 | | | | 5,154,377 | |
Sparebank 1 Boligkreditt 144A | | | 1.75 | | | | 11-15-19 | | | | 5,945,000 | | | | 5,903,670 | |
Svenska Handelsbanken AB | | | 2.88 | | | | 4-4-17 | | | | 5,211,000 | | | | 5,521,987 | |
Swedbank AB 144A | | | 2.13 | | | | 9-29-17 | | | | 7,392,000 | | | | 7,499,554 | |
Swedish Export Credit Corporation | | | 1.75 | | | | 5-30-17 | | | | 3,665,000 | | | | 3,773,770 | |
| | | | |
| | | | | | | | | | | | | | | 92,671,507 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Real Estate Management & Development: 0.06% | | | | | | | | | | | | | | | | |
Goodman Funding Proprietary Limited 144A | | | 6.00 | | | | 3-22-22 | | | | 1,830,000 | | | | 2,041,544 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Thrifts & Mortgage Finance: 0.50% | | | | | | | | | | | | | | | | |
Achmea Hypotheekbank NV 144A | | | 3.20 | | | | 11-3-14 | | | | 8,653,000 | | | | 9,061,681 | |
Stadshypotek AB 144A | | | 1.88 | | | | 10-2-19 | | | | 9,477,000 | | | | 9,530,555 | |
| | | | |
| | | | | | | | | | | | | | | 18,592,236 | |
| | | | | | | | | | | | | | | | |
| | | | |
Health Care: 0.10% | | | | | | | | | | | | | | | | |
| | | | |
| Pharmaceuticals: 0.10% | | | | | | | | | | | | | | | | |
Astrazeneca plc | | | 1.95 | | | | 9-18-19 | | | | 3,720,000 | | | | 3,803,376 | |
| | | | | | | | | | | | | | | | |
| | | | | | |
| Portfolio of investments—November 30, 2012 (unaudited) | | Wells Fargo Advantage Core Bond Portfolio | | | 15 | |
| | | | | | | | | | | | | | | | |
| Security name | | Interest rate | | | Maturity date | | | Principal | | | Value | |
| | | | | | | | | | | | | | | | |
| | | | |
Information Technology: 0.07% | | | | | | | | | | | | | | | | |
| | | | |
| Internet Software & Services: 0.07% | | | | | | | | | | | | | | | | |
Baidu Incorporated | | | 3.50 | % | | | 11-28-22 | | | $ | 2,470,000 | | | $ | 2,497,847 | |
| | | | | | | | | | | | | | | | |
| | | | |
Materials: 0.69% | | | | | | | | | | | | | | | | |
| | | | |
| Metals & Mining: 0.69% | | | | | | | | | | | | | | | | |
Barrick Gold Corporation | | | 3.85 | | | | 4-1-22 | | | | 1,947,000 | | | | 2,078,037 | |
Teck Resources Limited | | | 6.25 | | | | 7-15-41 | | | | 2,170,000 | | | | 2,470,326 | |
Vale SA | | | 5.63 | | | | 9-11-42 | | | | 2,780,000 | | | | 2,995,750 | |
Xstrata Finance Canada Company 144A | | | 1.80 | | | | 10-23-15 | | | | 8,227,000 | | | | 8,262,952 | |
Xstrata Finance Canada Company 144A | | | 2.45 | | | | 10-25-17 | | | | 9,568,000 | | | | 9,652,466 | |
| | | | |
| | | | | | | | | | | | | | | 25,459,531 | |
| | | | | | | | | | | | | | | | |
| | | | |
Telecommunication Services: 0.86% | | | | | | | | | | | | | | | | |
| | | | |
| Diversified Telecommunication Services: 0.35% | | | | | | | | | | | | | | | | |
Deutsche Telekom International 144A | | | 2.25 | | | | 3-6-17 | | | | 3,335,000 | | | | 3,429,574 | |
Hutchinson Whampoa International Limited 144A | | | 3.50 | | | | 1-13-17 | | | | 1,275,000 | | | | 1,357,370 | |
Hutchinson Whampoa International Limited 144A | | | 4.63 | | | | 1-13-22 | | | | 4,340,000 | | | | 4,855,601 | |
Telefonica Chile SA 144A | | | 3.88 | | | | 10-12-22 | | | | 3,265,000 | | | | 3,219,871 | |
| | | | |
| | | | | | | | | | | | | | | 12,862,416 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Wireless Telecommunication Services: 0.51% | | | | | | | | | | | | | | | | |
America Movil SAB de CV | | | 2.38 | | | | 9-8-16 | | | | 2,600,000 | | | | 2,716,020 | |
America Movil SAB de CV | | | 3.13 | | | | 7-16-22 | | | | 9,295,000 | | | | 9,535,257 | |
Telefonica Moviles Chile SA 144A | | | 2.88 | | | | 11-9-15 | | | | 1,913,000 | | | | 1,946,675 | |
Vodafone Group plc | | | 1.25 | | | | 9-26-17 | | | | 4,595,000 | | | | 4,599,687 | |
| | | | |
| | | | | | | | | | | | | | | 18,797,639 | |
| | | | | | | | | | | | | | | | |
| | | | |
Utilities: 0.04% | | | | | | | | | | | | | | | | |
| | | | |
| Electric Utilities: 0.04% | | | | | | | | | | | | | | | | |
Comision Federal de Electricidad 144A | | | 5.75 | | | | 2-14-42 | | | | 1,315,000 | | | | 1,495,813 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Yankee Corporate Bonds and Notes (Cost $262,833,270) | | | | | | | | | | | | | | | 269,923,292 | |
| | | | | | | | | | | | | | | | |
| | | | |
Yankee Government Bonds: 1.14% | | | | | | | | | | | | | | | | |
Province of Ontario | | | 1.65 | | | | 9-27-19 | | | | 10,780,000 | | | | 10,837,651 | |
Republic of Chile | | | 3.63 | | | | 10-30-42 | | | | 2,830,000 | | | | 2,844,150 | |
Republic of Slovenia 144A | | | 5.50 | | | | 10-26-22 | | | | 5,090,000 | | | | 5,079,311 | |
Slovak Republic 144A | | | 4.38 | | | | 5-21-22 | | | | 10,340,000 | | | | 11,125,737 | |
Tunisia | | | 1.69 | | | | 7-16-19 | | | | 6,774,000 | | | | 6,737,095 | |
United Mexican States | | | 5.75 | | | | 10-12-49 | | | | 4,511,000 | | | | 5,458,310 | |
| | | | |
Total Yankee Government Bonds (Cost $40,721,279) | | | | | | | | | | | | | | | 42,082,254 | |
| | | | | | | | | | | | | | | | |
| | | | |
Other: 0.03% | | | | | | | | | | | | | | | | |
Gryphon Funding Limited, Pass-Through Entity (a)(i)(v) | | | | | | | | | | | 3,436,964 | | | | 1,134,198 | |
| | | | | | | | | | | | | | | | |
| | | | |
Total Other (Cost $325,645) | | | | | | | | | | | | | | | 1,134,198 | |
| | | | | | | | | | | | | | | | |
| | | | |
| 16 | | Wells Fargo Advantage Core Bond Portfolio | | Portfolio of investments—November 30, 2012 (unaudited) |
| | | | | | | | | | | | | | |
| Security name | | Yield | | | | | Shares | | | Value | |
| | | | | | | | | | | | | | |
| | | | |
Short-Term Investments: 7.66% | | | | | | | | | | | | | | |
| | | | |
| Investment Companies: 7.66% | | | | | | | | | | | | | | |
Wells Fargo Advantage Cash Investment Money Market Fund, Select Class (l)(u)# | | | 0.16 | % | | | | | 201,172,161 | | | $ | 201,172,161 | |
Wells Fargo Securities Lending Cash Investments, LLC (v)(l)(u)(r) | | | 0.21 | | | | | | 80,871,705 | | | | 80,871,705 | |
| | | | |
Total Short-Term Investments (Cost $282,043,866) | | | | | | | | | | | | | 282,043,866 | |
| | | | | | | | | | | | | | |
| | | | | | | | |
| Total investments in securities | | | | | | | | |
| (Cost $4,144,093,171) * | | | 114.70 | % | | | 4,224,823,589 | |
Other assets and liabilities, net | | | (14.70 | ) | | | (541,582,748 | ) |
| | | | | | | | |
| Total net assets | | | 100.00 | % | | $ | 3,683,240,841 | |
| | | | | | | | |
| %% | Security issued on a when-issued basis. |
| ## | All or a portion of this security has been segregated for when-issued and delayed delivery securities. |
| ± | Variable rate investment |
| (a) | Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees. |
| 144A | Security that may be resold to “qualified institutional buyers” under Rule 144A or security offered pursuant to Section 4(2) of the Securities Act of 1933, as amended. |
| « | All or a portion of this security is on loan. |
| (v) | Security represents investment of cash collateral received from securities on loan. |
| (l) | Investment in an affiliate |
| (u) | Rate shown is the 7-day annualized yield at period end. |
| # | All or a portion of this security is segregated as collateral for investments in derivative instruments. |
| (r) | The investment company is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940, as amended. |
| * | Cost for federal income tax purposes is $4,149,567,914 and unrealized appreciation (depreciation) consists of: |
| | | | |
Gross unrealized appreciation | | $ | 77,428,474 | |
Gross unrealized depreciation | | | (2,172,799 | ) |
| | | | |
Net unrealized appreciation | | $ | 75,255,675 | |
| ITEM 7. | DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES |
Not applicable.
| ITEM 8. | PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES |
Not applicable.
| ITEM 9. | PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASES |
Not applicable.
| ITEM 10. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS |
The Governance Committee (the “Committee”) of the Board of Trustees of the registrant (the “Trust”) has adopted procedures by which a shareholder of any series of the Trust may submit properly a nominee recommendation for the Committee’s consideration.
The shareholder must submit any such recommendation (a “Shareholder Recommendation”) in writing to the Trust, to the attention of the Trust’s Secretary, at the address of the principal executive offices of the Trust.
The Shareholder Recommendation must be delivered to, or mailed and received at, the principal executive offices of the Trust not less than forty-five (45) calendar days nor more than seventy-five (75) calendar days prior to the date of the Committee meeting at which the nominee would be considered.
The Shareholder Recommendation must include: (i) a statement in writing setting forth (A) the name, age, date of birth, business address, residence address and nationality of the person recommended by the shareholder (the “candidate”); (B) the series (and, if applicable, class) and number of all shares of the Trust owned of record or beneficially by the candidate, as reported to such shareholder by the candidate; (C) any other information regarding the candidate called for with respect to director nominees by paragraphs (a), (d), (e) and (f) of Item 401 of Regulation S-K or paragraph (b) of Item 22 of Rule 14a-101 (Schedule 14A) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), adopted by the Securities and Exchange Commission (or the corresponding provisions of any regulation or rule subsequently adopted by the Securities and Exchange Commission or any successor agency applicable to the Trust); (D) any other information regarding the candidate that would be required to be disclosed if the candidate were a nominee in a proxy statement or other filing required to be made in connection with solicitation of proxies for election of directors pursuant to Section 14 of the Exchange Act and the rules and regulations promulgated thereunder; and (E) whether the recommending shareholder believes that the candidate is or will be an “interested person” of the Trust (as defined in the Investment Company Act of 1940, as amended) and, if not an “interested person,” information regarding the candidate that will be sufficient for the Trust to make such determination; (ii) the written and signed consent of the candidate to be named as a nominee and to serve as a Trustee if elected; (iii) the recommending shareholder’s name as it appears on the Trust’s books; (iv) the series (and, if applicable, class) and number of all shares of the Trust owned beneficially and of record by the recommending shareholder; and (v) a description of all arrangements or understandings between the recommending shareholder and the candidate and any other person or persons (including their names) pursuant to which the recommendation is being made by the recommending shareholder. In addition, the Committee may require the candidate to interview in person and furnish such other information as it may reasonably require or deem necessary to determine the eligibility of such candidate to serve as a Trustee of the Trust.
ITEM 11. CONTROLS AND PROCEDURES
(a) The President and Treasurer have concluded that the Wells Fargo Master Trust (the “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 Trust 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 Trust’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the second quarter 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 12. EXHIBITS
(a)(1) Not required in this filing.
(a)(2) Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.
(a)(3) Not applicable.
(b) Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is filed and attached hereto as Exhibit 99.906CERT.
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.
| | |
| Wells Fargo Master Trust |
| |
| By: | | /s/ Karla M. Rabusch |
| | Karla M. Rabusch |
| | President |
|
| Date: January 28, 2013 |
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.
| | |
| By: | | /s/ Karla M. Rabusch |
| | Karla M. Rabusch |
| | President |
|
| Date: January 28, 2013 |
| |
| By: | | /s/ Nancy Wiser |
| | Nancy Wiser |
| | Treasurer |
|
| Date: January 28, 2013 |
| |
| By: | | /s/ Jeremy DePalma |
| | Jeremy DePalma |
| | Treasurer |
|
| Date: January 28, 2013 |
