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Wells Fargo Master Trust N-CSRSCertified semi-annual shareholder report (management investment company)

Filed: 3 Jan 25, 11:39am
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    LOGO

     

     

     

    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

     

     

    Allspring Master Trust

    (Exact name of registrant as specified in charter)

     

     

    1415 Vantage Park Drive, 3rd Floor, Charlotte, NC 28203

    (Address of principal executive offices) (Zip code)

     

     

    Matthew Prasse

    Allspring Funds Management, LLC

    1415 Vantage Park Drive, 3rd Floor, Charlotte, NC 28203

    (Name and address of agent for service)

     

     

    Registrant’s telephone number, including area code: 800-222-8222

    Date of fiscal year end: April 30

     

     

    Registrant is making a filing for 11 of its series: Allspring Core Bond Portfolio, Allspring Disciplined International Developed Markets Portfolio, Allspring Disciplined Large Cap Portfolio, Allspring Diversified Large Cap Growth Portfolio, Allspring Large Cap Value Portfolio, Allspring Large Company Value Portfolio, Allspring Macro Strategies Portfolio, Allspring Managed Fixed Income Portfolio, Allspring Real Return Portfolio, Allspring Small Company Growth Portfolio and Allspring Small Company Value Portfolio.

    Date of reporting period: October 31, 2024

     

     

     

    ITEM 1. REPORT TO STOCKHOLDERS

    Image

    Semi-Annual Shareholder Report

    Large Cap Value Portfolio

    October 31, 2024 

     

    This semi-annual shareholder report contains important information about Large Cap Value Portfolio for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Funds that invest in this Portfolio at allspringglobal.com.

    What were the Portfolio costs for the past 6 months?

    The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.

    CLASS NAMECOSTS OF A $10,000 INVESTMENTCOSTS PAID AS A % OF A $10,000 INVESTMENT
    Large Cap Value Portfolio$30
    0.57%Footnote Reference1
    FootnoteDescription
    Footnote1
    		Annualized

    KEY PORTFOLIO STATISTICS

    Total net assets$230,896,120
    # of portfolio holdings46
    Portfolio turnover rate15%
    Total advisory fees paid$622,215

    What did the Portfolio invest in? 

    (Based on long-term investments) 

    SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)

    Financials21.5
    Industrials16.7
    Health care13.7
    Information technology10.6
    Consumer staples8.8
    Energy6.7
    Real estate5.4
    Consumer discretionary5.3
    Materials4.2
    Communication services4.0
    Utilities3.1

    TOP TEN HOLDINGS (% OF NET ASSETS) 

    Alphabet, Inc. Class C4.0
    Canadian Pacific Kansas City Ltd.3.7
    Berkshire Hathaway, Inc. Class B3.6
    Citigroup, Inc.3.6
    CBRE Group, Inc. Class A3.5
    AerCap Holdings NV3.4
    Intercontinental Exchange, Inc.3.1
    NextEra Energy, Inc.3.0
    Labcorp Holdings, Inc.3.0
    Bank of America Corp.3.0

    For more information

    You can find additional information on the Funds that invest in this Portfolio on the Fund's website at allspringglobal.com, including its:

             - Prospectus  - Financial Information  - Fund holdings  - Proxy voting information 

     

    Image

    Semi-Annual Shareholder Report

    Core Bond Portfolio

    October 31, 2024 

     

    This semi-annual shareholder report contains important information about Core Bond Portfolio for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Funds that invest in this Portfolio at allspringglobal.com.

    What were the Portfolio costs for the past 6 months?

    The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.

    CLASS NAMECOSTS OF A $10,000 INVESTMENTCOSTS PAID AS A % OF A $10,000 INVESTMENT
    Core Bond Portfolio$17
    0.33%Footnote Reference1
    FootnoteDescription
    Footnote1
    		Annualized

    KEY PORTFOLIO STATISTICS

    Total net assets$5,269,440,511
    # of portfolio holdings1,057
    Portfolio turnover rate188%
    Total advisory fees paid$8,511,576

    What did the Portfolio invest in? 

    (Based on long-term investments) 

    PORTFOLIO ALLOCATION (% OF TOTAL INVESTMENT)

    Agency securities42.7
    U.S. Treasury securities23.6
    Corporate bonds and notes20.5
    Asset-backed securities7.6
    Yankee corporate bonds and notes3.0
    Non-agency mortgage-backed securities1.4
    Yankee government bonds0.9
    Municipal obligations0.3

    TOP TEN HOLDINGS (% OF NET ASSETS) 

    FNMA, 5.50%, 11-15-20543.2
    U.S. Treasury Notes, 2.88%, 4-30-20292.2
    U.S. Treasury Notes, 4.13%, 10-31-20292.0
    U.S. Treasury Bonds, 1.88%, 2-15-20411.9
    U.S. Treasury Bonds, 1.75%, 8-15-20411.7
    FHLMC, 6.00%, 9-1-20541.7
    GNMA, 6.50%, 11-15-20541.6
    U.S. Treasury Bonds, 2.00%, 11-15-20411.5
    U.S. Treasury Notes, 2.88%, 5-15-20281.4
    U.S. Treasury Notes, 1.25%, 4-30-20281.3

    For more information

    You can find additional information on the Funds that invest in this Portfolio on the Fund's website at allspringglobal.com, including its:

             - Prospectus  - Financial Information  - Fund holdings  - Proxy voting information 

     

    Image

    Semi-Annual Shareholder Report

    Macro Strategies Portfolio

    October 31, 2024 

     

    This semi-annual shareholder report contains important information about Macro Strategies Portfolio for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Funds that invest in this Portfolio at allspringglobal.com.

    What were the Portfolio consolidated costs for the past 6 months?

    The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.

    CLASS NAMECONSOLIDATED COSTS OF A $10,000 INVESTMENTCOSTS PAID AS A % OF A $10,000 INVESTMENT
    Macro Strategies Portfolio$23
    0.45%Footnote Reference1
    FootnoteDescription
    Footnote1
    		Annualized

     

    KEY PORTFOLIO STATISTICS

    Consolidated Total net assets$292,648,170
    Consolidated # of portfolio holdings179
    Consolidated Portfolio turnover rate6%
    Consolidated Total advisory fees paid$560,638

    What did the Portfolio invest in? 

    (Based on long-term investments) 

    CONSOLIDATED PORTFOLIO ALLOCATION

    (% OF LONG-TERM INVESTMENT)

    U.S. Treasury securities76.7
    Common stocks23.3

    CONSOLIDATED TOP TEN HOLDINGS (% OF NET ASSETS)

    TIPS, 0.50%, 1-15-20282.4
    TIPS, 2.00%, 1-15-20262.4
    TIPS, 0.13%, 7-15-20312.4
    TIPS, 0.75%, 2-15-20422.3
    TIPS, 2.38%, 10-15-20282.2
    TIPS, 3.63%, 4-15-20282.2
    TIPS, 0.13%, 1-15-20322.2
    TIPS, 0.13%, 1-15-20311.4
    TIPS, 3.88%, 4-15-20291.3
    TIPS, 0.13%, 10-15-20261.3

    For more information

    You can find additional information on the Funds that invest in this Portfolio on the Fund's website at allspringglobal.com, including its:

             - Prospectus  - Financial Information  - Fund holdings  - Proxy voting information 

     

    Image

    Semi-Annual Shareholder Report

    Managed Fixed Income Portfolio

    October 31, 2024 

     

    This semi-annual shareholder report contains important information about Managed Fixed Income Portfolio for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Funds that invest in this Portfolio at allspringglobal.com.

    This report describes changes to the Portfolio that occurred either during or after the reporting period.

    What were the Portfolio costs for the past 6 months?

    The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.

    CLASS NAMECOSTS OF A $10,000 INVESTMENTCOSTS PAID AS A % OF A $10,000 INVESTMENT
    Managed Fixed Income Portfolio$20
    0.39%Footnote Reference1
    FootnoteDescription
    Footnote1
    		Annualized

    KEY PORTFOLIO STATISTICS

    Total net assets$333,295,612
    # of portfolio holdings555
    Portfolio turnover rate18%
    Total advisory fees paid$583,060

    What did the Portfolio invest in? 

    (Based on long-term investments) 

    PORTFOLIO ALLOCATION (% OF TOTAL INVESTMENT)

    Corporate bonds and notes33.1
    Agency securities26.3
    U.S. Treasury securities13.8
    Asset-backed securities9.7
    Municipal obligations8.5
    Yankee corporate bonds and notes4.6
    Non-agency mortgage-backed securities3.9
    Yankee government bonds0.1

    TOP TEN HOLDINGS (% OF NET ASSETS) 

    FNMA, 2.50%, 1-1-20522.9
    U.S. Treasury Bonds, 2.38%, 11-15-20492.0
    U.S. Treasury Notes, 3.88%, 10-15-20272.0
    FNMA, 4.50%, 1-1-20511.7
    FNMA, 4.00%, 8-1-20511.5
    U.S. Treasury Bonds, 4.13%, 8-15-20441.5
    FNMA, 3.50%, 6-1-20521.4
    U.S. Treasury Bonds, 1.38%, 11-15-20401.1
    FNMA, 4.96%, 5-1-20291.0
    SBA Small Business Investment Cos., Series 2022-10A Class 1, 2.94%, 3-10-20320.9

    Significant portfolio changes

    This is a summary of certain changes and planned changes to the portfolio since May 1, 2024.

    At a meeting held on November 11-13, 2024, the Board of Trustees of the Fund approved the liquidation and termination of the Portfolio, which is expected to occur in the first quarter of 2025. 

    For more information

    You can find additional information on the Funds that invest in this Portfolio on the Fund's website at allspringglobal.com, including its:

             - Prospectus  - Financial Information  - Fund holdings  - Proxy voting information 

     

    Image

    Semi-Annual Shareholder Report

    Real Return Portfolio

    October 31, 2024 

     

    This semi-annual shareholder report contains important information about Real Return Portfolio for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Funds that invest in this Portfolio at allspringglobal.com.

    What were the Portfolio consolidated costs for the past 6 months?

    The table explains the consolidated costs you would have paid within the reporting period based on a hypothetical $10,000 investment.

    CLASS NAMECONSOLIDATED COSTS OF A $10,000 INVESTMENTCOSTS PAID AS A % OF A $10,000 INVESTMENT
    Real Return Portfolio$20
    0.39%Footnote Reference1
    FootnoteDescription
    Footnote1
    		Annualized

    KEY PORTFOLIO STATISTICS

    Consolidated Total net assets$250,192,333
    Consolidated # of portfolio holdings443
    Consolidated Portfolio turnover rate25%
    Consolidated Total advisory fees paid$380,195

    What did the Portfolio invest in? 

    (Based on long-term investments) 

    PORTFOLIO ALLOCATION (% OF TOTAL INVESTMENT)

    Common stocks48.9
    U.S. Treasury securities32.7
    Corporate bonds and notes11.0
    Investment companies5.6
    Yankee corporate bonds and notes1.4
    Loans0.4

    TOP TEN HOLDINGS (% OF NET ASSETS) 

    iShares J.P. Morgan USD Emerging Markets Bond ETF3.3
    TIPS, 0.13%, 4-15-20262.0
    TIPS, 0.13%, 1-15-20301.9
    TIPS, 1.38%, 7-15-20331.8
    TIPS, 1.63%, 10-15-20271.7
    TIPS, 0.13%, 7-15-20261.7
    TIPS, 0.13%, 7-15-20301.7
    TIPS, 0.63%, 1-15-20261.4
    TIPS, 0.88%, 1-15-20291.1
    Microsoft Corp.1.0

    For more information

    You can find additional information on the Funds that invest in this Portfolio on the Fund's website at allspringglobal.com, including its:

             - Prospectus  - Financial Information  - Fund holdings  - Proxy voting information 

     

    Image

    Semi-Annual Shareholder Report

    Small Company Growth Portfolio

    October 31, 2024 

     

    This semi-annual shareholder report contains important information about Small Company Growth Portfolio for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Funds that invest in this Portfolio at allspringglobal.com.

    This report describes changes to the Portfolio that occurred either during or after the reporting period.

    What were the Portfolio costs for the past 6 months?

    The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.

    CLASS NAMECOSTS OF A $10,000 INVESTMENTCOSTS PAID AS A % OF A $10,000 INVESTMENT
    Small Company Growth Portfolio$43
    0.83%Footnote Reference1
    FootnoteDescription
    Footnote1
    		Annualized

    KEY PORTFOLIO STATISTICS

    Total net assets$556,562,099
    # of portfolio holdings127
    Portfolio turnover rate22%
    Total advisory fees paid$2,236,774

    What did the Portfolio invest in? 

    (Based on long-term investments) 

    SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)

    Industrials24.1
    Health care23.2
    Information technology22.2
    Financials12.8
    Consumer discretionary9.4
    Consumer staples3.4
    Materials2.3
    Energy1.5
    Real estate0.7
    Communication services0.4

    TOP TEN HOLDINGS (% OF NET ASSETS) 

    PTC, Inc.1.8
    ICF International, Inc.1.6
    Element Solutions, Inc.1.5
    Baldwin Insurance Group, Inc. Class A1.5
    SS&C Technologies Holdings, Inc.1.4
    Avantor, Inc.1.4
    Box, Inc. Class A1.4
    KBR, Inc.1.3
    Stifel Financial Corp.1.3
    Performance Food Group Co.1.3

    Significant portfolio changes

    This is a summary of certain changes and planned changes to the portfolio since May 1, 2024.

    Effective December 31, 2024, William A. Grierson, CFA, will no longer serve as a portfolio manager to the Portfolio. 

    For more information

    You can find additional information on the Funds that invest in this Portfolio on the Fund's website at allspringglobal.com, including its:

             - Prospectus  - Financial Information  - Fund holdings  - Proxy voting information 

     

    Image

    Semi-Annual Shareholder Report

    Small Company Value Portfolio

    October 31, 2024 

     

    This semi-annual shareholder report contains important information about Small Company Value Portfolio for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Funds that invest in this Portfolio at allspringglobal.com.

    What were the Portfolio costs for the past 6 months?

    The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.

    CLASS NAMECOSTS OF A $10,000 INVESTMENTCOSTS PAID AS A % OF A $10,000 INVESTMENT
    Small Company Value Portfolio$39
    0.74%Footnote Reference1
    FootnoteDescription
    Footnote1
    		Annualized

    KEY PORTFOLIO STATISTICS

    Total net assets$713,455,046
    # of portfolio holdings160
    Portfolio turnover rate61%
    Total advisory fees paid$2,628,528

    What did the Portfolio invest in? 

    (Based on long-term investments) 

    SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)

    Financials27.9
    Industrials21.3
    Consumer discretionary11.8
    Health care8.4
    Real estate6.8
    Information technology6.7
    Energy6.3
    Materials5.7
    Consumer staples3.1
    Communication services1.1
    Utilities0.8
    Other0.1

    TOP TEN HOLDINGS (% OF NET ASSETS) 

    Piper Sandler Cos.1.4
    Stifel Financial Corp.1.4
    Wintrust Financial Corp.1.4
    Ameris Bancorp1.4
    Unum Group1.3
    Synovus Financial Corp.1.3
    Atlantic Union Bankshares Corp.1.3
    Jackson Financial, Inc. Class A1.3
    Walker & Dunlop, Inc.1.3
    FB Financial Corp.1.3

    For more information

    You can find additional information on the Funds that invest in this Portfolio on the Fund's website at allspringglobal.com, including its:

             - Prospectus  - Financial Information  - Fund holdings  - Proxy voting information 

     

    Image

    Semi-Annual Shareholder Report

    October 31, 2024 

    Disciplined International Developed Markets Portfolio

     

    This semi-annual shareholder report contains important information about Disciplined International Developed Markets Portfolio for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Funds that invest in this Portfolio at allspringglobal.com.

    What were the Portfolio costs for the past 6 months?

    The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.

    CLASS NAMECOSTS OF A $10,000 INVESTMENTCOSTS PAID AS A % OF A $10,000 INVESTMENT
    Disciplined International Developed Markets Portfolio$15
    0.30%Footnote Reference1
    FootnoteDescription
    Footnote1
    		Annualized

     

    KEY PORTFOLIO STATISTICS

    Total net assets$279,294,295
    # of portfolio holdings393
    Portfolio turnover rate19%
    Total advisory fees paid$373,067

    What did the Portfolio invest in? 

    (Based on long-term investments) 

    COUNTRY ALLOCATION (% OF LONG-TERM INVESTMENTS)

    Japan22.6
    United Kingdom13.6
    France10.9
    Switzerland10.3
    Germany8.0
    Australia7.5
    Netherlands5.6
    Spain3.5
    Sweden3.3
    Denmark3.3
    Other11.4

    TOP FIVE HOLDINGS (% OF LONG-TERM INVESTMENTS)

    Novo Nordisk AS2.1
    ASML Holding NV1.6
    Novartis AG1.6
    Nestle SA1.5
    SAP SE1.4

    SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)

    Financials20.9
    Industrials17.4
    Health care13.7
    Consumer discretionary11.2
    Information technology8.6
    Consumer staples8.3
    Materials6.3
    Communication services4.5
    Utilities3.4
    Energy3.4
    Real estate2.3

    For more information

    You can find additional information on the Funds that invest in this Portfolio on the Fund's website at allspringglobal.com, including its:

             - Prospectus  - Financial Information  - Fund holdings  - Proxy voting information 

     

    Image

    Semi-Annual Shareholder Report

    Disciplined Large Cap Portfolio

    October 31, 2024 

     

    This semi-annual shareholder report contains important information about Disciplined Large Cap Portfolio for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Funds that invest in this Portfolio at allspringglobal.com.

    What were the Portfolio costs for the past 6 months?

    The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.

    CLASS NAMECOSTS OF A $10,000 INVESTMENTCOSTS PAID AS A % OF A $10,000 INVESTMENT
    Disciplined Large Cap Portfolio$16
    0.29%Footnote Reference1
    FootnoteDescription
    Footnote1
    		Annualized

    KEY PORTFOLIO STATISTICS

    Total net assets$332,309,473
    # of portfolio holdings216
    Portfolio turnover rate11%
    Total advisory fees paid$436,926

    What did the Portfolio invest in? 

    (Based on long-term investments) 

    SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)

    Information technology29.4
    Financials14.5
    Health care11.3
    Communication services9.6
    Consumer discretionary9.5
    Industrials9.4
    Consumer staples5.7
    Energy3.2
    Real estate2.9
    Utilities2.5
    Materials2.0

    TOP TEN HOLDINGS (% OF NET ASSETS) 

    Apple, Inc.6.1
    NVIDIA Corp.5.8
    Microsoft Corp.5.7
    Amazon.com, Inc.3.4
    Meta Platforms, Inc. Class A2.7
    Alphabet, Inc. Class C2.0
    Broadcom, Inc.1.8
    Alphabet, Inc. Class A1.7
    JPMorgan Chase & Co.1.5
    Berkshire Hathaway, Inc. Class B1.4

    For more information

    You can find additional information on the Funds that invest in this Portfolio on the Fund's website at allspringglobal.com, including its:

             - Prospectus  - Financial Information  - Fund holdings  - Proxy voting information 

     

    Image

    Semi-Annual Shareholder Report

    Diversified Large Cap Growth Portfolio

    October 31, 2024 

     

    This semi-annual shareholder report contains important information about Diversified Large Cap Growth Portfolio for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Funds that invest in this Portfolio at allspringglobal.com.

    This report describes changes to the Portfolio that occurred either during or after the reporting period.

    What were the Portfolio costs for the past 6 months?

    The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.

    CLASS NAMECOSTS OF A $10,000 INVESTMENTCOSTS PAID AS A % OF A $10,000 INVESTMENT
    Diversified Large Cap Growth Portfolio$33
    0.60%Footnote Reference1
    FootnoteDescription
    Footnote1
    		Annualized

    KEY PORTFOLIO STATISTICS

    Total net assets$124,824,697
    # of portfolio holdings125
    Portfolio turnover rate28%
    Total advisory fees paid$322,043

    What did the Portfolio invest in? 

    (Based on long-term investments) 

    SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)

    Information technology38.6
    Consumer discretionary12.5
    Communication services12.0
    Health care11.2
    Financials10.3
    Industrials9.3
    Consumer staples1.7
    Energy1.7
    Real estate1.2
    Materials1.2
    Utilities0.3

    TOP TEN HOLDINGS (% OF NET ASSETS) 

    Microsoft Corp.7.4
    NVIDIA Corp.6.8
    Apple, Inc.5.0
    Amazon.com, Inc.4.6
    Meta Platforms, Inc. Class A4.0
    Eli Lilly & Co.2.1
    Arista Networks, Inc.1.9
    Alphabet, Inc. Class A1.6
    ServiceNow, Inc.1.5
    Intuitive Surgical, Inc.1.5

    Significant portfolio changes

    This is a summary of certain changes and planned changes to the portfolio since May 1, 2024.

    At a meeting held on November 11-13, 2024, the Board of Trustees of the Fund approved the liquidation and termination of the Portfolio, which is expected to occur in the first quarter of 2025. 

    For more information

    You can find additional information on the Funds that invest in this Portfolio on the Fund's website at allspringglobal.com, including its:

             - Prospectus  - Financial Information  - Fund holdings  - Proxy voting information 

     

    Image

    Semi-Annual Shareholder Report

    Large Company Value Portfolio

    October 31, 2024 

     

    This semi-annual shareholder report contains important information about Large Company Value Portfolio for the period of May 1, 2024 to October 31, 2024. You can find additional information about the Funds that invest in this Portfolio at allspringglobal.com.

    What were the Portfolio costs for the past 6 months?

    The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.

    CLASS NAMECOSTS OF A $10,000 INVESTMENTCOSTS PAID AS A % OF A $10,000 INVESTMENT
    Large Company Value Portfolio$21
    0.40%Footnote Reference1
    FootnoteDescription
    Footnote1
    		Annualized

    KEY PORTFOLIO STATISTICS

    Total net assets$175,461,277
    # of portfolio holdings117
    Portfolio turnover rate96%
    Total advisory fees paid$296,874

    What did the Portfolio invest in? 

    (Based on long-term investments) 

    SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)

    Financials22.4
    Health care15.7
    Industrials13.2
    Consumer staples8.1
    Information technology7.3
    Consumer discretionary6.7
    Communication services6.5
    Utilities5.4
    Energy5.2
    Materials4.8
    Real estate4.7

    TOP TEN HOLDINGS (% OF NET ASSETS) 

    Citigroup, Inc.2.6
    Equinix, Inc.2.4
    CRH PLC2.3
    Allstate Corp.2.2
    Comcast Corp. Class A2.2
    Trane Technologies PLC2.2
    Cintas Corp.2.1
    Progressive Corp.2.0
    PG&E Corp.2.0
    Charles Schwab Corp.2.0

    For more information

    You can find additional information on the Funds that invest in this Portfolio on the Fund's website at allspringglobal.com, including its:

             - Prospectus  - Financial Information  - Fund holdings  - Proxy voting information 

     

    ITEM 2. CODE OF ETHICS

    Not applicable.

    ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT

    Not applicable.

    ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES

    Not applicable.

    ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS

    Not applicable.

    ITEM 6. INVESTMENTS

    (a) The registrant’s Schedule of Investments is included as part of the Financial Statements filed under Item 7(a) of this Form.

    (b) Not Applicable due to no such divestments during the semi-annual period covered since the previous Form N-CSR filing.

    ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES

    (a) The registrant’s Financial Statements are attached herewith.

    (b) The registrant’s Financial Highlights are included as part of the Financial Statements filed under Item 7(a) of this Form.

     

     
    Allspring Managed Fixed Income Portfolio
    Long Form Financial Statements
    Semi-Annual Report
    October 31, 2024
     
    Contents
     
    Portfolio of investments
    2
    Item 7. Financial statements and financial highlights
    Statement of assets and liabilities
    22
    Statement of operations
    23
    Statement of changes in net assets
    24
    Financial highlights
    25
    Notes to financial statements
    26
    Other information
    29
    Item 8. Changes in and disagreements with accountants
    30
    Item 9. Matters submitted to fund shareholders for a vote
    30
    Item 10. Remuneration paid to directors, officers and others
    30
    Item 11. Statement regarding basis for board’s approval of investment
    advisory contract
    31
    Allspring Managed Fixed Income Portfolio | 1
    Portfolio of investments—October 31, 2024 (unaudited)
    Portfolio of investments
     
     
     
     
    Interest
    rate
    Maturity
    date
    Principal
    Value
    Agency securities:  25.84%
     
    FHLMC
    2.00
    %
    12-1-2051
    $
    2,177,982
    $1,754,742
    FHLMC
    2.50
    12-1-2051
     
    2,535,410
    2,120,900
    FHLMC
    2.50
    1-1-2052
     
    3,214,220
    2,696,448
    FHLMC
    3.00
    7-1-2046
     
    511,317
    451,500
    FHLMC
    3.00
    11-1-2049
     
    1,096,043
    961,663
    FHLMC
    3.00
    12-1-2049
     
    1,094,559
    960,350
    FHLMC
    3.00
    3-1-2050
     
    2,005,876
    1,760,133
    FHLMC
    3.50
    4-1-2043
     
    308,620
    283,795
    FHLMC
    3.50
    5-1-2044
     
    191,482
    175,998
    FHLMC
    3.50
    6-1-2046
     
    135,096
    122,996
    FHLMC
    3.50
    2-1-2047
     
    699,606
    637,769
    FHLMC
    3.50
    4-1-2047
     
    149,263
    136,364
    FHLMC
    3.50
    12-1-2047
     
    570,277
    520,611
    FHLMC
    3.50
    3-1-2048
     
    606,144
    550,357
    FHLMC
    3.50
    8-1-2049
     
    1,367,067
    1,239,593
    FHLMC
    4.00
    4-1-2044
     
    233,613
    222,662
    FHLMC
    4.00
    8-1-2044
     
    123,004
    116,547
    FHLMC
    4.00
    6-1-2048
     
    639,064
    600,384
    FHLMC
    4.50
    8-1-2048
     
    932,383
    898,462
    FHLMC
    4.50
    11-1-2048
     
    2,176,545
    2,100,344
    FHLMC Structured Pass-Through Certificates Series T-20 Class A6±±
    7.99
    9-25-2029
     
    2,755
    2,706
    FHLMC Structured Pass-Through Certificates Series T-58 Class 4A
    7.50
    9-25-2043
     
    414,682
    423,852
    FNMA
    1.47
    11-1-2029
     
    2,020,000
    1,737,325
    FNMA
    2.00
    12-1-2051
     
    1,871,640
    1,511,742
    FNMA
    2.27
    4-1-2029
     
    710,000
    645,352
    FNMA
    2.50
    8-1-2031
     
    103,668
    98,324
    FNMA
    2.50
    2-1-2035
     
    1,012,921
    932,041
    FNMA
    2.50
    12-1-2051
     
    2,168,268
    1,813,772
    FNMA
    2.50
    1-1-2052
     
    11,578,376
    9,708,468
    FNMA
    3.00
    12-1-2032
     
    14,933
    14,184
    FNMA
    3.00
    7-1-2046
     
    175,689
    154,823
    FNMA
    3.00
    4-1-2047
     
    761,565
    669,244
    FNMA
    3.00
    11-1-2049
     
    929,428
    815,544
    FNMA
    3.00
    12-1-2049
     
    926,534
    813,005
    FNMA
    3.00
    3-1-2050
     
    1,105,556
    968,460
    FNMA
    3.00
    9-1-2050
     
    1,893,237
    1,656,590
    FNMA
    3.35
    1-1-2028
     
    253,823
    244,749
    FNMA
    3.50
    10-1-2032
     
    193,329
    186,511
    FNMA
    3.50
    11-1-2042
     
    212,600
    195,336
    FNMA
    3.50
    2-1-2043
     
    48,371
    44,523
    FNMA
    3.50
    11-1-2045
     
    482,608
    440,066
    FNMA
    3.50
    4-1-2046
     
    60,343
    55,010
    FNMA
    3.50
    7-1-2046
     
    160,994
    146,668
    FNMA
    3.50
    11-1-2046
     
    215,550
    196,317
    FNMA
    3.50
    8-1-2047
     
    1,065,572
    970,256
    FNMA
    3.50
    6-1-2052
     
    5,192,274
    4,698,342
    FNMA
    3.80
    10-1-2029
     
    805,000
    775,573
    FNMA
    4.00
    11-1-2040
     
    87,440
    83,850
    The accompanying notes are an integral part of these financial statements.
    2 | Allspring Managed Fixed Income Portfolio
    Portfolio of investments—October 31, 2024 (unaudited)
     
     
     
     
    Interest
    rate
    Maturity
    date
    Principal
    Value
    Agency securities(continued)
     
    FNMA
    4.00
    %
    4-1-2041
    $
    124,903
    $119,776
    FNMA
    4.00
    8-1-2046
     
    139,052
    132,314
    FNMA
    4.00
    3-1-2049
     
    371,900
    348,313
    FNMA
    4.00
    8-1-2051
     
    5,438,738
    5,080,383
    FNMA
    4.00
    7-1-2052
     
    1,245,057
    1,156,569
    FNMA
    4.00
    7-1-2056
     
    246,627
    228,375
    FNMA
    4.00
    3-1-2051
     
    1,422,245
    1,327,824
    FNMA
    4.08
    10-1-2029
     
    1,110,000
    1,083,813
    FNMA
    4.37
    8-1-2029
     
    1,020,000
    1,007,708
    FNMA
    4.46
    2-1-2031
     
    1,421,227
    1,399,962
    FNMA
    4.50
    8-1-2048
     
    654,052
    629,171
    FNMA
    4.50
    1-1-2051
     
    5,929,042
    5,732,944
    FNMA
    4.50
    10-1-2052
     
    501,253
    480,871
    FNMA
    4.50
    11-1-2052
     
    2,180,194
    2,091,357
    FNMA
    4.50
    6-1-2056
     
    613,363
    587,751
    FNMA
    4.57
    5-1-2031
     
    1,260,000
    1,243,213
    FNMA
    4.65
    2-1-2029
     
    1,760,000
    1,756,816
    FNMA
    4.72
    11-1-2029
     
    780,000
    783,159
    FNMA
    4.93
    10-1-2030
     
    2,493,973
    2,517,014
    FNMA
    4.96
    5-1-2029
     
    3,180,000
    3,207,456
    FNMA
    5.00
    9-1-2033
     
    39,960
    39,894
    FNMA
    5.00
    8-1-2052
     
    747,856
    734,572
    FNMA
    5.00
    10-1-2052
     
    1,865,169
    1,828,450
    FNMA
    5.09
    1-1-2029
     
    1,490,000
    1,512,310
    FNMA
    5.50
    2-1-2036
     
    18,840
    18,654
    FNMA
    5.50
    10-1-2052
     
    847,339
    850,294
    FNMA Series 2002-90 Class A2
    6.50
    11-25-2042
     
    170,570
    174,609
    FNMA Series 2002-T4 Class A2
    7.00
    12-25-2041
     
    61,336
    63,327
    FNMA Series 2002-W4 Class A4
    6.25
    5-25-2042
     
    556,169
    560,547
    FNMA Series 2003-W4 Class 3A±±
    4.77
    10-25-2042
     
    95,793
    101,481
    FNMA Series 2004-T2 Class 1A1
    6.00
    11-25-2043
     
    204,328
    207,964
    FNMA Series 2004-T3 Class 1A1
    6.00
    2-25-2044
     
    345,081
    343,146
    FNMA Series 2004-W1 Class 2A2
    7.00
    12-25-2033
     
    48,976
    50,736
    FNMA Series 2004-W11 Class 1A3
    7.00
    5-25-2044
     
    354,836
    354,564
    FNMA Series 2004-W8 Class 3A
    7.50
    6-25-2044
     
    53,780
    54,861
    GNMA
    7.00
    8-15-2027
     
    6,428
    6,498
    Total agency securities (Cost $93,187,597)
     
    86,130,947
    Asset-backed securities:  9.54%
     
    ECMC Group Student Loan Trust Series 2016-1A Class A (30 Day
    Average U.S. SOFR+1.46%)144A±
    6.32
    7-26-2066
     
    196,743
    197,765
    ECMC Group Student Loan Trust Series 2018-2A Class A (30 Day
    Average U.S. SOFR+0.91%)144A±
    5.77
    9-25-2068
     
    1,393,990
    1,382,471
    Fifth Third Auto Trust Series 2023-1 Class A3
    5.53
    8-15-2028
     
    575,000
    581,317
    Ford Credit Auto Owner Trust Series 2021-1 Class A144A
    1.37
    10-17-2033
     
    1,225,000
    1,167,536
    Ford Credit Auto Owner Trust Series 2023-2 Class A144A
    5.28
    2-15-2036
     
    1,150,000
    1,172,205
    Louisiana Local Government Environmental Facilities & CDA
    Series 2022-ELL Class A3
    4.28
    2-1-2036
     
    1,265,000
    1,210,286
    The accompanying notes are an integral part of these financial statements.
    Allspring Managed Fixed Income Portfolio | 3
    Portfolio of investments—October 31, 2024 (unaudited)
     
     
     
     
    Interest
    rate
    Maturity
    date
    Principal
    Value
    Asset-backed securities(continued)
     
    Mississippi Higher Education Assistance Corp. Series 2014-1
    Class A1 (30 Day Average U.S. SOFR+0.79%)±
    5.65
    %
    10-25-2035
    $
    135,051
    $133,483
    PFS Financing Corp. Series 2023-C Class A144A
    5.52
    10-15-2028
     
    1,090,000
    1,106,071
    PHEAA Student Loan Trust Series 2016-1A Class A (30 Day Average
    U.S. SOFR+1.26%)144A±
    6.12
    9-25-2065
     
    322,100
    322,575
    Rhode Island Student Loan Authority Series 2012-1 Class A1 (30 Day
    Average U.S. SOFR+1.01%)±
    5.87
    7-1-2031
     
    567,445
    567,952
    SBA Small Business Investment Cos. Series 2015-10B Class 1
    2.83
    9-10-2025
     
    47,926
    47,127
    SBA Small Business Investment Cos. Series 2017-10A Class 1
    2.85
    3-10-2027
     
    78,450
    75,802
    SBA Small Business Investment Cos. Series 2018-10B Class 1
    3.55
    9-10-2028
     
    1,467,068
    1,411,925
    SBA Small Business Investment Cos. Series 2021-10A Class 1
    1.67
    3-10-2031
     
    532,439
    465,951
    SBA Small Business Investment Cos. Series 2021-10B Class 1
    1.30
    9-10-2031
     
    1,648,465
    1,420,375
    SBA Small Business Investment Cos. Series 2022-10A Class 1
    2.94
    3-10-2032
     
    3,327,730
    3,072,197
    SLM Student Loan Trust Series 2003-10A Class A4 (90 Day Average
    U.S. SOFR+0.93%)144A±
    6.30
    12-17-2068
     
    726,108
    722,565
    South Carolina Student Loan Corp. Series 2014-1 Class B (30 Day
    Average U.S. SOFR+1.61%)±
    6.83
    8-1-2035
     
    489,265
    489,876
    U.S. Small Business Administration Series 2006-20B Class 1
    5.35
    2-1-2026
     
    20,924
    20,799
    U.S. Small Business Administration Series 2006-20H Class 1
    5.70
    8-1-2026
     
    12,815
    12,797
    U.S. Small Business Administration Series 2007-20J Class 1
    5.57
    10-1-2027
     
    50,752
    50,501
    U.S. Small Business Administration Series 2013-20A Class 1
    2.13
    1-1-2033
     
    99,123
    90,842
    U.S. Small Business Administration Series 2013-20J Class 1
    3.37
    10-1-2033
     
    81,482
    77,100
    U.S. Small Business Administration Series 2014-20A Class 1
    3.46
    1-1-2034
     
    101,244
    96,376
    U.S. Small Business Administration Series 2015-20C Class 1
    2.72
    3-1-2035
     
    133,504
    122,949
    U.S. Small Business Administration Series 2015-20E Class 1
    2.77
    5-1-2035
     
    223,615
    205,397
    U.S. Small Business Administration Series 2015-20F Class 1
    2.98
    6-1-2035
     
    149,593
    138,478
    U.S. Small Business Administration Series 2017-20F Class 1
    2.81
    6-1-2037
     
    130,026
    115,365
    U.S. Small Business Administration Series 2018-20E Class 1
    3.50
    5-1-2038
     
    1,161,933
    1,085,181
    U.S. Small Business Administration Series 2018-20G Class 1
    3.54
    7-1-2038
     
    1,426,811
    1,324,233
    U.S. Small Business Administration Series 2018-20H Class 1
    3.58
    8-1-2038
     
    1,926,717
    1,820,375
    U.S. Small Business Administration Series 2018-20K Class 1
    3.87
    11-1-2038
     
    1,284,952
    1,230,592
    U.S. Small Business Administration Series 2022-25G Class 1
    3.93
    7-1-2047
     
    1,761,806
    1,644,446
    U.S. Small Business Administration Series 2022-25L Class 1
    4.71
    12-1-2047
     
    1,383,797
    1,353,501
    U.S. Small Business Administration Series 2023-25A Class 1
    4.91
    1-1-2048
     
    837,945
    830,773
    U.S. Small Business Administration Series 2023-25D Class 1
    4.48
    4-1-2048
     
    1,392,529
    1,352,648
    U.S. Small Business Administration Series 2023-25L Class 1
    5.28
    12-1-2048
     
    2,128,226
    2,153,645
    U.S. Small Business Administration Series 2024-25D Class 1
    5.38
    4-1-2049
     
    1,402,939
    1,427,321
    U.S. Small Business Administration Series 2024-25I Class 1
    4.45
    9-1-2049
     
    480,000
    465,529
    Verizon Master Trust Series 2024-5 Class A144A
    5.00
    6-21-2032
     
    625,000
    634,926
    Total asset-backed securities (Cost $33,026,755)
     
    31,801,253
    Corporate bonds and notes:  32.52%
     
    Basic materials:  1.56%
     
    Chemicals:  1.47%
     
    Albemarle Corp.
    5.05
    6-1-2032
     
    190,000
    184,866
    Ashland, Inc.144A
    3.38
    9-1-2031
     
    875,000
    756,808
    Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B
    BV144A
    4.75
    6-15-2027
     
    670,000
    656,611
    The accompanying notes are an integral part of these financial statements.
    4 | Allspring Managed Fixed Income Portfolio
    Portfolio of investments—October 31, 2024 (unaudited)
     
     
     
     
    Interest
    rate
    Maturity
    date
    Principal
    Value
    Chemicals(continued)
     
    Celanese U.S. Holdings LLC
    6.17
    %
    7-15-2027
    $
    400,000
    $409,069
    FMC Corp.
    3.20
    10-1-2026
     
    1,120,000
    1,083,232
    HB Fuller Co.
    4.25
    10-15-2028
     
    375,000
    355,344
    Ingevity Corp.144A
    3.88
    11-1-2028
     
    275,000
    253,057
    PPG Industries, Inc.
    2.55
    6-15-2030
     
    770,000
    683,038
    RPM International, Inc.
    4.55
    3-1-2029
     
    420,000
    414,863
    Sherwin-Williams Co.
    3.30
    2-1-2025
     
    100,000
    99,451
     
     
    4,896,339
    Mining:  0.09%
     
    Newmont Corp./Newcrest Finance Pty. Ltd.
    5.35
    3-15-2034
     
    300,000
    304,771
    Communications:  1.97%
     
    Advertising:  0.16%
     
    Lamar Media Corp.
    4.88
    1-15-2029
     
    550,000
    534,766
    Internet:  0.09%
     
    VeriSign, Inc.
    4.75
    7-15-2027
     
    300,000
    297,764
    Media:  0.46%
     
    CCO Holdings LLC/CCO Holdings Capital Corp.144A
    4.50
    8-15-2030
     
    381,000
    340,286
    CCO Holdings LLC/CCO Holdings Capital Corp.144A
    5.13
    5-1-2027
     
    925,000
    905,725
    Charter Communications Operating LLC/Charter Communications
    Operating Capital
    4.40
    4-1-2033
     
    340,000
    304,224
     
     
    1,550,235
    Telecommunications:  1.26%
     
    AT&T, Inc.
    2.25
    2-1-2032
     
    460,000
    383,299
    AT&T, Inc.
    2.75
    6-1-2031
     
    535,000
    469,972
    AT&T, Inc.
    4.75
    5-15-2046
     
    680,000
    604,771
    Motorola Solutions, Inc.
    5.00
    4-15-2029
     
    90,000
    90,671
    T-Mobile USA, Inc.
    2.40
    3-15-2029
     
    150,000
    135,703
    T-Mobile USA, Inc.
    3.38
    4-15-2029
     
    875,000
    821,538
    T-Mobile USA, Inc.
    4.20
    10-1-2029
     
    140,000
    136,191
    Verizon Communications, Inc.
    2.36
    3-15-2032
     
    470,000
    391,860
    Verizon Communications, Inc.
    4.81
    3-15-2039
     
    1,228,000
    1,150,424
     
     
    4,184,429
    Consumer, cyclical:  2.47%
     
    Apparel:  0.12%
     
    William Carter Co.144A
    5.63
    3-15-2027
     
    185,000
    183,914
    Wolverine World Wide, Inc.144A
    4.00
    8-15-2029
     
    245,000
    209,498
     
     
    393,412
    Auto manufacturers:  1.80%
     
    Allison Transmission, Inc.144A
    4.75
    10-1-2027
     
    1,000,000
    975,246
    American Honda Finance Corp.
    4.40
    9-5-2029
     
    280,000
    275,356
    Daimler Truck Finance North America LLC144A
    2.00
    12-14-2026
     
    270,000
    255,347
    Daimler Truck Finance North America LLC144A
    2.38
    12-14-2028
     
    450,000
    408,385
    The accompanying notes are an integral part of these financial statements.
    Allspring Managed Fixed Income Portfolio | 5
    Portfolio of investments—October 31, 2024 (unaudited)
     
     
     
     
    Interest
    rate
    Maturity
    date
    Principal
    Value
    Auto manufacturers(continued)
     
    Daimler Truck Finance North America LLC144A
    5.40
    %
    9-20-2028
    $
    240,000
    $244,172
    Ford Motor Credit Co. LLC
    4.95
    5-28-2027
     
    1,200,000
    1,186,532
    General Motors Financial Co., Inc.
    2.40
    10-15-2028
     
    380,000
    343,655
    General Motors Financial Co., Inc.
    2.70
    6-10-2031
     
    500,000
    425,144
    General Motors Financial Co., Inc.
    4.30
    4-6-2029
     
    180,000
    173,767
    Mercedes-Benz Finance North America LLC144A
    4.85
    1-11-2029
     
    440,000
    439,155
    Nissan Motor Acceptance Co. LLC144A
    7.05
    9-15-2028
     
    650,000
    674,878
    Toyota Motor Credit Corp.
    5.10
    3-21-2031
     
    240,000
    243,391
    Volkswagen Group of America Finance LLC144A
    4.60
    6-8-2029
     
    370,000
    358,833
     
     
    6,003,861
    Entertainment:  0.23%
     
    Warnermedia Holdings, Inc.
    4.28
    3-15-2032
     
    900,000
    788,700
    Housewares:  0.17%
     
    Scotts Miracle-Gro Co.
    4.50
    10-15-2029
     
    120,000
    113,350
    Scotts Miracle-Gro Co.
    5.25
    12-15-2026
     
    448,000
    447,647
     
     
    560,997
    Retail:  0.15%
     
    Foot Locker, Inc.144A
    4.00
    10-1-2029
     
    400,000
    343,706
    Lowe’s Cos., Inc.
    3.75
    4-1-2032
     
    170,000
    157,397
     
     
    501,103
    Consumer, non-cyclical:  4.46%
     
    Agriculture:  0.12%
     
    Darling Ingredients, Inc.144A
    6.00
    6-15-2030
     
    400,000
    397,250
    Commercial services:  1.45%
     
    Equifax, Inc.
    2.35
    9-15-2031
     
    180,000
    151,561
    Equifax, Inc.
    4.80
    9-15-2029
     
    120,000
    118,991
    Equifax, Inc.
    5.10
    12-15-2027
     
    140,000
    141,288
    Massachusetts Institute of Technology
    3.96
    7-1-2038
     
    500,000
    459,496
    Massachusetts Institute of Technology
    7.25
    11-2-2096
     
    500,000
    651,094
    President & Fellows of Harvard College
    4.88
    10-15-2040
     
    183,000
    179,079
    Service Corp. International
    4.63
    12-15-2027
     
    450,000
    440,656
    Service Corp. International
    7.50
    4-1-2027
     
    345,000
    362,285
    Trustees of Princeton University
    5.70
    3-1-2039
     
    1,415,000
    1,519,675
    University of Southern California
    3.03
    10-1-2039
     
    1,000,000
    810,670
     
     
    4,834,795
    Food:  0.24%
     
    Ingredion, Inc.
    2.90
    6-1-2030
     
    880,000
    794,246
    Healthcare-products:  1.08%
     
    Baxter International, Inc.
    1.92
    2-1-2027
     
    260,000
    244,109
    Baxter International, Inc.
    2.27
    12-1-2028
     
    1,130,000
    1,017,383
    GE HealthCare Technologies, Inc.
    5.86
    3-15-2030
     
    380,000
    396,973
    GE HealthCare Technologies, Inc.
    5.91
    11-22-2032
     
    240,000
    253,259
    The accompanying notes are an integral part of these financial statements.
    6 | Allspring Managed Fixed Income Portfolio
    Portfolio of investments—October 31, 2024 (unaudited)
     
     
     
     
    Interest
    rate
    Maturity
    date
    Principal
    Value
    Healthcare-products(continued)
     
    Hologic, Inc.144A
    3.25
    %
    2-15-2029
    $
    505,000
    $463,780
    Hologic, Inc.144A
    4.63
    2-1-2028
     
    300,000
    294,325
    Revvity, Inc.
    1.90
    9-15-2028
     
    490,000
    439,133
    Teleflex, Inc.144A
    4.25
    6-1-2028
     
    500,000
    479,346
     
     
    3,588,308
    Healthcare-services:  0.94%
     
    Ascension Health Series B
    3.11
    11-15-2039
     
    250,000
    197,091
    Charles River Laboratories International, Inc.144A
    4.25
    5-1-2028
     
    745,000
    708,260
    Health Care Service Corp. A Mutual Legal Reserve Co.144A
    5.20
    6-15-2029
     
    350,000
    353,997
    Kaiser Foundation Hospitals Series 2021
    2.81
    6-1-2041
     
    310,000
    226,965
    Laboratory Corp. of America Holdings
    4.35
    4-1-2030
     
    230,000
    223,066
    Mayo Clinic Series 2021
    3.20
    11-15-2061
     
    500,000
    338,484
    Memorial Sloan-Kettering Cancer Center Series 2015
    4.20
    7-1-2055
     
    185,000
    155,568
    Northwestern Memorial Healthcare Obligated Group Series 2021
    2.63
    7-15-2051
     
    100,000
    64,697
    Pediatrix Medical Group, Inc.144A
    5.38
    2-15-2030
     
    550,000
    525,676
    UnitedHealth Group, Inc.
    5.15
    7-15-2034
     
    330,000
    332,491
     
     
    3,126,295
    Household products/wares:  0.13%
     
    Central Garden & Pet Co.
    5.13
    2-1-2028
     
    460,000
    453,330
    Pharmaceuticals:  0.50%
     
    Bayer U.S. Finance II LLC144A
    4.38
    12-15-2028
     
    1,170,000
    1,130,968
    Becton Dickinson & Co.
    4.30
    8-22-2032
     
    260,000
    247,843
    CVS Health Corp.
    1.75
    8-21-2030
     
    200,000
    164,871
    CVS Health Corp.
    5.05
    3-25-2048
     
    130,000
    112,154
     
     
    1,655,836
    Energy:  3.94%
     
    Oil & gas:  1.29%
     
    Antero Resources Corp.144A
    5.38
    3-1-2030
     
    650,000
    631,193
    Apache Corp.
    4.25
    1-15-2030
     
    100,000
    94,162
    Apache Corp.
    4.38
    10-15-2028
     
    100,000
    96,672
    Expand Energy Corp.
    5.38
    3-15-2030
     
    320,000
    314,682
    HF Sinclair Corp.
    4.50
    10-1-2030
     
    910,000
    870,589
    Patterson-UTI Energy, Inc.
    7.15
    10-1-2033
     
    530,000
    560,567
    Permian Resources Operating LLC144A
    5.88
    7-1-2029
     
    400,000
    394,322
    Phillips 66 Co.
    5.25
    6-15-2031
     
    620,000
    625,304
    Range Resources Corp.144A
    4.75
    2-15-2030
     
    575,000
    541,357
    Sunoco LP/Sunoco Finance Corp.
    4.50
    4-30-2030
     
    200,000
    187,695
     
     
    4,316,543
    Pipelines:  2.65%
     
    Boardwalk Pipelines LP
    3.60
    9-1-2032
     
    625,000
    552,463
    Buckeye Partners LP144A
    4.50
    3-1-2028
     
    675,000
    642,909
    DT Midstream, Inc.144A
    4.13
    6-15-2029
     
    200,000
    187,812
    Energy Transfer LP
    4.95
    5-15-2028
     
    790,000
    792,058
    The accompanying notes are an integral part of these financial statements.
    Allspring Managed Fixed Income Portfolio | 7
    Portfolio of investments—October 31, 2024 (unaudited)
     
     
     
     
    Interest
    rate
    Maturity
    date
    Principal
    Value
    Pipelines(continued)
     
    Energy Transfer LP
    5.25
    %
    7-1-2029
    $
    110,000
    $111,092
    Florida Gas Transmission Co. LLC144A
    4.35
    7-15-2025
     
    1,521,000
    1,511,243
    Gulfstream Natural Gas System LLC144A
    6.19
    11-1-2025
     
    210,000
    211,939
    Kinder Morgan, Inc.
    5.00
    2-1-2029
     
    720,000
    720,701
    Kinetik Holdings LP144A
    5.88
    6-15-2030
     
    450,000
    446,536
    NuStar Logistics LP
    6.38
    10-1-2030
     
    525,000
    530,925
    ONEOK, Inc.
    4.40
    10-15-2029
     
    190,000
    185,080
    Plains All American Pipeline LP/PAA Finance Corp.
    4.70
    6-15-2044
     
    600,000
    510,658
    Plains All American Pipeline LP/PAA Finance Corp.
    4.90
    2-15-2045
     
    80,000
    69,548
    Plains All American Pipeline LP/PAA Finance Corp.
    5.70
    9-15-2034
     
    250,000
    252,163
    Sabine Pass Liquefaction LLC
    4.50
    5-15-2030
     
    300,000
    291,796
    Sempra Infrastructure Partners LP144A
    3.25
    1-15-2032
     
    825,000
    685,692
    Transcontinental Gas Pipe Line Co. LLC
    3.25
    5-15-2030
     
    790,000
    721,722
    Williams Cos., Inc.
    4.65
    8-15-2032
     
    220,000
    212,471
    Williams Cos., Inc.
    4.90
    3-15-2029
     
    50,000
    49,926
    Williams Cos., Inc.
    5.65
    3-15-2033
     
    130,000
    133,196
     
     
    8,819,930
    Financial:  8.20%
     
    Banks:  5.50%
     
    Bank of America Corp. (U.S. SOFR+1.21%)±
    2.57
    10-20-2032
     
    170,000
    144,554
    Bank of America Corp. (U.S. SOFR+1.32%)±
    2.69
    4-22-2032
     
    400,000
    346,874
    Bank of America Corp. (U.S. SOFR+1.37%)±
    1.92
    10-24-2031
     
    540,000
    452,558
    Bank of America Corp. (U.S. SOFR 3 Month+1.77%)±
    3.71
    4-24-2028
     
    720,000
    701,576
    Bank of New York Mellon Corp. (U.S. SOFR+1.23%)±
    5.06
    7-22-2032
     
    380,000
    381,567
    Bank of New York Mellon Corp. (U.S. SOFR+1.42%)±
    4.29
    6-13-2033
     
    260,000
    247,917
    Bank of New York Mellon Corp. (U.S. SOFR+1.60%)±
    6.32
    10-25-2029
     
    190,000
    200,590
    Citibank NA
    4.84
    8-6-2029
     
    290,000
    290,765
    Citigroup, Inc. (U.S. SOFR+1.17%)±
    2.56
    5-1-2032
     
    360,000
    308,079
    Citigroup, Inc. (U.S. SOFR+1.18%)±
    2.52
    11-3-2032
     
    450,000
    379,284
    Citigroup, Inc. (U.S. SOFR+1.34%)±
    4.54
    9-19-2030
     
    190,000
    186,087
    Citigroup, Inc. (U.S. SOFR+1.35%)±
    3.06
    1-25-2033
     
    240,000
    208,553
    Citigroup, Inc. (U.S. SOFR+2.09%)±
    4.91
    5-24-2033
     
    130,000
    127,257
    Citigroup, Inc. (U.S. SOFR+2.11%)±
    2.57
    6-3-2031
     
    370,000
    324,579
    Citizens Bank NA (U.S. SOFR+2.00%)±
    4.58
    8-9-2028
     
    300,000
    296,832
    Fifth Third Bancorp (U.S. SOFR+1.84%)±
    5.63
    1-29-2032
     
    90,000
    91,469
    Fifth Third Bancorp (U.S. SOFR+2.13%)±
    4.77
    7-28-2030
     
    570,000
    561,099
    Fifth Third Bancorp (U.S. SOFR+2.19%)±
    6.36
    10-27-2028
     
    180,000
    186,657
    Goldman Sachs Group, Inc. (U.S. SOFR+1.21%)±
    5.05
    7-23-2030
     
    160,000
    160,370
    Goldman Sachs Group, Inc. (U.S. SOFR+1.25%)±
    2.38
    7-21-2032
     
    770,000
    649,059
    Goldman Sachs Group, Inc. (U.S. SOFR+1.27%)±
    5.73
    4-25-2030
     
    190,000
    195,344
    Goldman Sachs Group, Inc. (U.S. SOFR 3 Month+1.56%)±
    4.22
    5-1-2029
     
    570,000
    557,012
    Huntington Bancshares, Inc. (U.S. SOFR+2.05%)±
    5.02
    5-17-2033
     
    210,000
    203,290
    Huntington National Bank
    5.65
    1-10-2030
     
    250,000
    255,343
    JPMorgan Chase & Co. (U.S. SOFR+1.13%)±
    5.00
    7-22-2030
     
    180,000
    180,578
    JPMorgan Chase & Co. (U.S. SOFR+1.16%)±
    5.58
    4-22-2030
     
    280,000
    287,215
    JPMorgan Chase & Co. (U.S. SOFR+1.26%)±
    2.96
    1-25-2033
     
    390,000
    340,612
    JPMorgan Chase & Co. (U.S. SOFR 3 Month+1.25%)±
    2.58
    4-22-2032
     
    110,000
    95,313
    The accompanying notes are an integral part of these financial statements.
    8 | Allspring Managed Fixed Income Portfolio
    Portfolio of investments—October 31, 2024 (unaudited)
     
     
     
     
    Interest
    rate
    Maturity
    date
    Principal
    Value
    Banks(continued)
     
    JPMorgan Chase & Co. (U.S. SOFR 3 Month+1.52%)±
    4.20
    %
    7-23-2029
    $
    600,000
    $586,629
    JPMorgan Chase & Co. (U.S. SOFR 3 Month+1.59%)±
    4.45
    12-5-2029
     
    470,000
    462,424
    KeyBank NA
    3.90
    4-13-2029
     
    420,000
    393,795
    KeyCorp
    2.25
    4-6-2027
     
    690,000
    648,023
    M&T Bank Corp. (U.S. SOFR+1.85%)±
    5.05
    1-27-2034
     
    420,000
    405,063
    Morgan Stanley (U.S. SOFR+1.00%)±
    2.48
    1-21-2028
     
    740,000
    704,434
    Morgan Stanley (U.S. SOFR+1.22%)±
    5.04
    7-19-2030
     
    130,000
    130,409
    Morgan Stanley (U.S. SOFR+1.45%)±
    5.17
    1-16-2030
     
    160,000
    161,383
    Morgan Stanley (U.S. SOFR+1.59%)±
    5.16
    4-20-2029
     
    480,000
    484,089
    Morgan Stanley (U.S. SOFR+1.63%)±
    5.45
    7-20-2029
     
    90,000
    91,737
    Morgan Stanley (U.S. SOFR+2.08%)±
    4.89
    7-20-2033
     
    360,000
    354,256
    PNC Bank NA
    4.05
    7-26-2028
     
    1,000,000
    974,833
    Regions Financial Corp.
    1.80
    8-12-2028
     
    540,000
    480,636
    State Street Corp. (U.S. SOFR+1.00%)±
    2.62
    2-7-2033
     
    770,000
    660,316
    State Street Corp. (U.S. SOFR+1.61%)±
    4.42
    5-13-2033
     
    90,000
    86,909
    Truist Financial Corp. (U.S. SOFR+1.62%)±
    5.44
    1-24-2030
     
    360,000
    364,319
    Truist Financial Corp. (U.S. SOFR 3 Month+1.24%)±
    5.83
    4-1-2027
     
    400,000
    392,185
    U.S. Bancorp (U.S. SOFR+1.56%)±
    5.38
    1-23-2030
     
    300,000
    304,804
    U.S. Bancorp (U.S. SOFR+2.09%)±
    5.85
    10-21-2033
     
    80,000
    83,013
    Wells Fargo & Co. (U.S. SOFR+1.50%)±
    3.35
    3-2-2033
     
    680,000
    604,204
    Wells Fargo & Co. (U.S. SOFR+1.50%)±
    5.20
    1-23-2030
     
    120,000
    121,193
    Wells Fargo & Co. (U.S. SOFR+1.51%)±
    3.53
    3-24-2028
     
    720,000
    698,829
    Wells Fargo & Co. (U.S. SOFR+2.02%)±
    5.39
    4-24-2034
     
    210,000
    211,428
    Wells Fargo & Co. (U.S. SOFR+2.10%)±
    4.90
    7-25-2033
     
    590,000
    578,912
     
     
    18,344,256
    Diversified financial services:  0.55%
     
    American Express Co. (U.S. SOFR+1.09%)±
    5.53
    4-25-2030
     
    305,000
    312,768
    American Express Co. (U.S. SOFR+1.28%)±
    5.28
    7-27-2029
     
    170,000
    172,732
    American Express Co. (U.S. SOFR+1.94%)±
    6.49
    10-30-2031
     
    130,000
    140,030
    Capital One Financial Corp. (U.S. SOFR+1.79%)±
    3.27
    3-1-2030
     
    450,000
    417,252
    Capital One Financial Corp. (U.S. SOFR+2.37%)±
    5.27
    5-10-2033
     
    170,000
    167,483
    Charles Schwab Corp. (U.S. SOFR+1.88%)±
    6.20
    11-17-2029
     
    230,000
    241,595
    Charles Schwab Corp. (U.S. SOFR+2.21%)±
    5.64
    5-19-2029
     
    160,000
    164,036
    Mastercard, Inc.
    4.55
    1-15-2035
     
    230,000
    223,478
     
     
    1,839,374
    Insurance:  0.90%
     
    Aon North America, Inc.
    5.15
    3-1-2029
     
    270,000
    272,974
    MassMutual Global Funding II144A
    4.35
    9-17-2031
     
    210,000
    203,329
    Mutual of Omaha Cos. Global Funding144A
    5.45
    12-12-2028
     
    360,000
    366,260
    NLV Financial Corp.144A
    7.50
    8-15-2033
     
    565,000
    605,879
    Northwestern Mutual Life Insurance Co.144A
    3.45
    3-30-2051
     
    470,000
    336,802
    Pacific Life Global Funding II144A
    5.50
    7-18-2028
     
    360,000
    368,149
    Principal Life Global Funding II144A
    5.10
    1-25-2029
     
    360,000
    363,886
    Protective Life Global Funding144A
    5.22
    6-12-2029
     
    480,000
    489,249
     
     
    3,006,528
    The accompanying notes are an integral part of these financial statements.
    Allspring Managed Fixed Income Portfolio | 9
    Portfolio of investments—October 31, 2024 (unaudited)
     
     
     
     
    Interest
    rate
    Maturity
    date
    Principal
    Value
    REITS:  1.25%
     
    Agree LP
    2.90
    %
    10-1-2030
    $
    430,000
    $380,614
    Alexandria Real Estate Equities, Inc.
    3.95
    1-15-2027
     
    240,000
    235,560
    Alexandria Real Estate Equities, Inc.
    3.95
    1-15-2028
     
    380,000
    369,933
    CubeSmart LP
    2.25
    12-15-2028
     
    160,000
    144,519
    Digital Realty Trust LP
    4.45
    7-15-2028
     
    510,000
    503,825
    Extra Space Storage LP
    3.90
    4-1-2029
     
    400,000
    383,603
    Healthpeak OP LLC
    2.13
    12-1-2028
     
    40,000
    36,079
    Healthpeak OP LLC
    2.88
    1-15-2031
     
    190,000
    169,514
    Healthpeak OP LLC
    3.50
    7-15-2029
     
    560,000
    526,932
    Kimco Realty OP LLC
    2.25
    12-1-2031
     
    265,000
    222,402
    Mid-America Apartments LP
    4.20
    6-15-2028
     
    160,000
    157,366
    UDR, Inc.
    3.20
    1-15-2030
     
    350,000
    322,460
    Ventas Realty LP
    2.50
    9-1-2031
     
    120,000
    102,062
    Ventas Realty LP
    3.50
    2-1-2025
     
    150,000
    149,379
    Welltower OP LLC
    2.05
    1-15-2029
     
    190,000
    170,550
    Welltower OP LLC
    2.75
    1-15-2032
     
    320,000
    276,172
     
     
    4,150,970
    Industrial:  3.66%
     
    Aerospace/defense:  0.97%
     
    Boeing Co.
    2.70
    2-1-2027
     
    840,000
    792,930
    Boeing Co.
    5.15
    5-1-2030
     
    155,000
    152,975
    Boeing Co.
    5.71
    5-1-2040
     
    110,000
    105,817
    L3Harris Technologies, Inc.
    5.05
    6-1-2029
     
    120,000
    120,950
    L3Harris Technologies, Inc.
    5.40
    7-31-2033
     
    380,000
    385,533
    Moog, Inc.144A
    4.25
    12-15-2027
     
    700,000
    667,333
    RTX Corp.
    2.25
    7-1-2030
     
    360,000
    313,994
    RTX Corp.
    2.38
    3-15-2032
     
    250,000
    210,209
    RTX Corp.
    6.10
    3-15-2034
     
    440,000
    471,293
     
     
    3,221,034
    Building materials:  0.25%
     
    Fortune Brands Innovations, Inc.
    3.25
    9-15-2029
     
    460,000
    427,159
    Martin Marietta Materials, Inc. Series CB
    2.50
    3-15-2030
     
    280,000
    248,848
    Masco Corp.
    6.50
    8-15-2032
     
    150,000
    159,649
     
     
    835,656
    Electronics:  0.41%
     
    Amphenol Corp.
    2.20
    9-15-2031
     
    480,000
    404,360
    Amphenol Corp.
    5.05
    4-5-2029
     
    100,000
    101,113
    Jabil, Inc.
    3.95
    1-12-2028
     
    900,000
    872,444
     
     
    1,377,917
    Environmental control:  0.19%
     
    Clean Harbors, Inc.144A
    4.88
    7-15-2027
     
    85,000
    83,707
    Clean Harbors, Inc.144A
    6.38
    2-1-2031
     
    550,000
    554,135
     
     
    637,842
    The accompanying notes are an integral part of these financial statements.
    10 | Allspring Managed Fixed Income Portfolio
    Portfolio of investments—October 31, 2024 (unaudited)
     
     
     
     
    Interest
    rate
    Maturity
    date
    Principal
    Value
    Machinery-construction & mining:  0.13%
     
    Oshkosh Corp.
    3.10
    %
    3-1-2030
    $
    490,000
    $446,480
    Machinery-diversified:  0.31%
     
    CNH Industrial Capital LLC
    5.10
    4-20-2029
     
    360,000
    362,800
    Mueller Water Products, Inc.144A
    4.00
    6-15-2029
     
    700,000
    651,716
     
     
    1,014,516
    Packaging & containers:  1.01%
     
    Ball Corp.
    3.13
    9-15-2031
     
    550,000
    475,323
    Clearwater Paper Corp.144A
    4.75
    8-15-2028
     
    775,000
    719,844
    Graphic Packaging International LLC144A
    3.50
    3-1-2029
     
    420,000
    383,304
    Packaging Corp. of America
    3.00
    12-15-2029
     
    480,000
    441,498
    Sealed Air Corp.144A
    6.88
    7-15-2033
     
    200,000
    211,865
    Sealed Air Corp./Sealed Air Corp. U.S.144A
    6.13
    2-1-2028
     
    400,000
    404,251
    Silgan Holdings, Inc.
    4.13
    2-1-2028
     
    200,000
    190,928
    WRKCo, Inc.
    3.90
    6-1-2028
     
    560,000
    540,310
     
     
    3,367,323
    Transportation:  0.39%
     
    FedEx Corp.
    3.10
    8-5-2029
     
    200,000
    185,875
    FedEx Corp.
    3.90
    2-1-2035
     
    280,000
    251,275
    Norfolk Southern Corp.
    5.05
    8-1-2030
     
    190,000
    192,656
    Norfolk Southern Corp.
    5.10
    8-1-2118
     
    760,000
    667,086
     
     
    1,296,892
    Technology:  1.21%
     
    Computers:  0.42%
     
    Gartner, Inc.144A
    4.50
    7-1-2028
     
    200,000
    195,147
    Hewlett Packard Enterprise Co.
    4.55
    10-15-2029
     
    510,000
    500,309
    Hewlett Packard Enterprise Co.
    4.90
    10-15-2025
     
    375,000
    375,241
    Seagate HDD Cayman
    3.13
    7-15-2029
     
    375,000
    329,086
     
     
    1,399,783
    Semiconductors:  0.32%
     
    Broadcom, Inc.
    4.35
    2-15-2030
     
    260,000
    253,102
    Microchip Technology, Inc.
    4.25
    9-1-2025
     
    375,000
    373,097
    Microchip Technology, Inc.
    5.05
    3-15-2029
     
    265,000
    265,967
    ON Semiconductor Corp.144A
    3.88
    9-1-2028
     
    175,000
    164,098
     
     
    1,056,264
    Software:  0.47%
     
    Fair Isaac Corp.144A
    4.00
    6-15-2028
     
    430,000
    408,351
    Oracle Corp.
    4.20
    9-27-2029
     
    360,000
    350,687
    Oracle Corp.
    6.15
    11-9-2029
     
    160,000
    169,267
    Roper Technologies, Inc.
    2.95
    9-15-2029
     
    470,000
    432,524
    Take-Two Interactive Software, Inc.
    5.40
    6-12-2029
     
    225,000
    228,610
     
     
    1,589,439
    The accompanying notes are an integral part of these financial statements.
    Allspring Managed Fixed Income Portfolio | 11
    Portfolio of investments—October 31, 2024 (unaudited)
     
     
     
     
    Interest
    rate
    Maturity
    date
    Principal
    Value
    Utilities:  5.05%
     
    Electric:  4.69%
     
    AEP Transmission Co. LLC
    5.15
    %
    4-1-2034
    $
    240,000
    $241,090
    Alabama Power Co.
    5.85
    11-15-2033
     
    260,000
    275,028
    American Transmission Systems, Inc.144A
    2.65
    1-15-2032
     
    380,000
    324,898
    Black Hills Corp.
    4.35
    5-1-2033
     
    710,000
    658,936
    CenterPoint Energy Houston Electric LLC
    5.15
    3-1-2034
     
    340,000
    341,580
    Commonwealth Edison Co. Series 133
    3.85
    3-15-2052
     
    450,000
    349,965
    Connecticut Light & Power Co.
    4.65
    1-1-2029
     
    360,000
    360,195
    Connecticut Light & Power Co.
    4.95
    8-15-2034
     
    80,000
    79,316
    Connecticut Light & Power Co.
    5.25
    1-15-2053
     
    130,000
    128,279
    Consumers Energy Co.
    4.70
    1-15-2030
     
    60,000
    59,960
    Consumers Securitization Funding LLC Series A2
    5.21
    9-1-2030
     
    815,000
    826,532
    Dominion Energy South Carolina, Inc.
    6.25
    10-15-2053
     
    230,000
    257,840
    Dominion Energy South Carolina, Inc. Series A
    2.30
    12-1-2031
     
    450,000
    379,862
    DTE Electric Co.
    5.40
    4-1-2053
     
    200,000
    201,253
    Duke Energy Carolinas LLC
    3.55
    3-15-2052
     
    230,000
    168,659
    Duke Energy Carolinas LLC
    6.05
    4-15-2038
     
    830,000
    890,034
    Duke Energy Progress LLC
    2.00
    8-15-2031
     
    620,000
    519,733
    Entergy Arkansas LLC
    5.45
    6-1-2034
     
    380,000
    392,181
    Evergy Kansas Central, Inc.
    5.70
    3-15-2053
     
    180,000
    182,223
    Evergy Metro, Inc. Series 2020
    2.25
    6-1-2030
     
    350,000
    304,998
    Florida Power & Light Co.
    5.30
    4-1-2053
     
    200,000
    198,321
    Idaho Power Co.
    5.20
    8-15-2034
     
    180,000
    180,595
    Indianapolis Power & Light Co.144A
    5.65
    12-1-2032
     
    360,000
    368,963
    Interstate Power & Light Co.
    4.95
    9-30-2034
     
    230,000
    225,723
    IPALCO Enterprises, Inc.
    5.75
    4-1-2034
     
    100,000
    101,887
    Kentucky Utilities Co. Series KENT
    5.45
    4-15-2033
     
    310,000
    318,584
    Louisville Gas & Electric Co. Series LOU
    5.45
    4-15-2033
     
    310,000
    318,505
    MidAmerican Energy Co.
    5.80
    10-15-2036
     
    900,000
    952,839
    NextEra Energy Operating Partners LP144A
    4.50
    9-15-2027
     
    275,000
    264,001
    Northern States Power Co.
    4.50
    6-1-2052
     
    210,000
    184,716
    Northern States Power Co.
    5.35
    11-1-2039
     
    1,580,000
    1,585,373
    PPL Electric Utilities Corp.
    5.25
    5-15-2053
     
    220,000
    217,124
    Public Service Co. of New Hampshire
    5.35
    10-1-2033
     
    260,000
    268,193
    Public Service Electric & Gas Co.
    5.20
    3-1-2034
     
    290,000
    294,452
    Public Service Electric & Gas Co. Series D
    5.70
    12-1-2036
     
    590,000
    617,770
    Puget Sound Energy, Inc.
    5.33
    6-15-2034
     
    310,000
    314,485
    Puget Sound Energy, Inc.
    5.45
    6-1-2053
     
    300,000
    298,465
    Tucson Electric Power Co.
    3.25
    5-15-2032
     
    420,000
    373,549
    Union Electric Co.
    5.20
    4-1-2034
     
    330,000
    333,704
    Union Electric Co.
    5.45
    3-15-2053
     
    330,000
    329,934
    Virginia Power Fuel Securitization LLC Series A-2
    4.88
    5-1-2031
     
    405,000
    408,083
    Wisconsin Power & Light Co.
    3.95
    9-1-2032
     
    370,000
    346,754
    Wisconsin Power & Light Co.
    5.38
    3-30-2034
     
    190,000
    192,460
     
     
    15,637,042
    Gas:  0.36%
     
    Atmos Energy Corp.
    5.90
    11-15-2033
     
    240,000
    255,411
    The accompanying notes are an integral part of these financial statements.
    12 | Allspring Managed Fixed Income Portfolio
    Portfolio of investments—October 31, 2024 (unaudited)
     
     
     
     
    Interest
    rate
    Maturity
    date
    Principal
    Value
    Gas(continued)
     
    CenterPoint Energy Resources Corp.
    1.75
    %
    10-1-2030
    $
    330,000
    $277,436
    Southern Co. Gas Capital Corp.
    4.95
    9-15-2034
     
    340,000
    332,506
    Spire Missouri, Inc. Series 2034
    5.15
    8-15-2034
     
    310,000
    312,049
     
     
    1,177,402
    Total corporate bonds and notes (Cost $113,666,189)
     
    108,401,628
    Municipal obligations:  8.34%
     
    Alabama:  0.27%
     
    Miscellaneous revenue:  0.27%
     
    Alabama Federal Aid Highway Finance Authority Series B
    1.86
    9-1-2029
     
    1,000,000
    889,024
    Arizona:  0.11%
     
    Housing revenue:  0.11%
     
    City of Yuma Excise Tax Revenue
    2.10
    7-15-2030
     
    430,000
    379,107
    California:  1.48%
     
    GO revenue:  1.28%
     
    Campbell Union High School District
    2.31
    8-1-2035
     
    660,000
    524,747
    Desert Community College District
    2.78
    8-1-2035
     
    450,000
    373,573
    Oxnard Union High School District
    1.87
    8-1-2030
     
    800,000
    694,217
    Palomar Community College District
    2.32
    8-1-2034
     
    500,000
    404,372
    San Ramon Valley Unified School District
    1.91
    8-1-2030
     
    740,000
    647,149
    Solano County Community College District Series B
    1.76
    8-1-2030
     
    950,000
    821,289
    State of California
    5.75
    10-1-2031
     
    750,000
    799,840
     
     
    4,265,187
    Tax revenue:  0.20%
     
    Orange County Local Transportation Authority Sales Tax Revenue
    Series A
    6.91
    2-15-2041
     
    400,000
    437,634
    San Jose Redevelopment Agency Successor Agency Series A-T
    3.38
    8-1-2034
     
    250,000
    226,361
     
     
    663,995
     
     
    4,929,182
    Colorado:  0.10%
     
    Housing revenue:  0.10%
     
    Colorado HFA Series G-1 (GNMA / FNMA / FHLMC Insured)%%
    6.00
    11-1-2050
     
    340,000
    347,820
    Florida:  0.23%
     
    Housing revenue:  0.07%
     
    Florida Housing Finance Corp. Series 4 (GNMA / FNMA / FHLMC
    Insured)
    5.50
    7-1-2054
     
    225,000
    225,718
    Water & sewer revenue:  0.16%
     
    Florida Water Pollution Control Financing Corp. Clean Water State
    Revolving Fund Series A
    2.60
    1-15-2030
     
    585,000
    532,777
     
     
    758,495
    The accompanying notes are an integral part of these financial statements.
    Allspring Managed Fixed Income Portfolio | 13
    Portfolio of investments—October 31, 2024 (unaudited)
     
     
     
     
    Interest
    rate
    Maturity
    date
    Principal
    Value
    Georgia:  0.11%
     
    GO revenue:  0.11%
     
    Cherokee County Board of Education
    5.87
    %
    8-1-2028
    $
    355,000
    $357,477
    Hawaii:  0.17%
     
    GO revenue:  0.17%
     
    State of Hawaii Series GE
    2.64
    10-1-2036
     
    250,000
    198,686
    State of Hawaii Series GM
    5.22
    10-1-2036
     
    350,000
    356,974
     
     
    555,660
    Indiana:  0.39%
     
    Health revenue:  0.32%
     
    Indiana Finance Authority Community Foundation of Northwest
    Indiana Obligated Group
    3.63
    3-1-2039
     
    1,235,000
    1,060,649
    Miscellaneous revenue:  0.07%
     
    Indianapolis Local Public Improvement Bond Bank Series A-2
    6.00
    1-15-2040
     
    235,000
    244,438
     
     
    1,305,087
    Louisiana:  0.16%
     
    Miscellaneous revenue:  0.03%
     
    Louisiana Local Government Environmental Facilities & CDA Series A
    4.48
    8-1-2039
     
    115,000
    109,977
    Tax revenue:  0.13%
     
    State of Louisiana Gasoline & Fuels Tax Revenue Series A
    2.80
    5-1-2035
     
    500,000
    413,818
     
     
    523,795
    Maryland:  0.17%
     
    Housing revenue:  0.17%
     
    Maryland Department of Housing & Community Development
    Series D
    6.00
    3-1-2055
     
    550,000
    560,538
    Massachusetts:  0.22%
     
    GO revenue:  0.18%