Portfolio of investments—November 30, 2022 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Agency securities: 39.86% | ||||||
FFCB | 0.30% | 3-28-2024 | $ | 100,000 | $ 94,264 | |
FFCB | 0.48 | 9-3-2024 | 70,000 | 64,999 | ||
FFCB | 0.57 | 7-2-2024 | 50,000 | 46,782 | ||
FFCB | 1.55 | 7-26-2030 | 160,000 | 131,435 | ||
FFCB | 1.57 | 4-5-2028 | 360,000 | 313,854 | ||
FFCB | 1.79 | 6-22-2035 | 180,000 | 130,065 | ||
FFCB | 4.25 | 9-30-2025 | 30,000 | 29,963 | ||
FHLB | 0.38 | 3-15-2024 | 610,000 | 576,490 | ||
FHLB | 0.96 | 3-5-2026 | 30,000 | 26,901 | ||
FHLB | 1.50 | 8-15-2024 | 10,000 | 9,499 | ||
FHLB | 2.50 | 12-8-2023 | 480,000 | 468,460 | ||
FHLB | 2.75 | 12-13-2024 | 10,000 | 9,664 | ||
FHLB | 2.88 | 9-13-2024 | 60,000 | 58,264 | ||
FHLB | 3.00 | 3-10-2028 | 10,000 | 9,466 | ||
FHLB | 5.50 | 7-15-2036 | 10,000 | 11,136 | ||
FHLB | 5.63 | 3-14-2036 | 10,000 | 11,152 | ||
FHLMC | 0.38 | 7-21-2025 | 270,000 | 244,443 | ||
FHLMC | 0.62 | 12-1-2025 | 460,000 | 411,706 | ||
FHLMC | 1.50 | 11-1-2035 | 804,996 | 706,194 | ||
FHLMC | 1.50 | 3-1-2037 | 2,384,146 | 2,090,655 | ||
FHLMC | 1.50 | 6-1-2051 | 3,042,286 | 2,375,710 | ||
FHLMC | 2.50 | 3-1-2032 | 1,507,541 | 1,425,208 | ||
FHLMC | 3.00 | 2-1-2047 | 2,768,511 | 2,499,252 | ||
FHLMC | 3.00 | 3-1-2048 | 43,424 | 39,011 | ||
FHLMC | 3.00 | 6-1-2050 | 784,485 | 705,898 | ||
FHLMC | 3.00 | 7-1-2050 | 1,961,842 | 1,767,583 | ||
FHLMC | 3.00 | 8-1-2050 | 973,617 | 876,074 | ||
FHLMC | 3.50 | 2-1-2044 | 4,738,814 | 4,471,923 | ||
FHLMC | 3.50 | 4-1-2045 | 207,692 | 195,004 | ||
FHLMC | 4.00 | 11-25-2024 | 180,000 | 177,477 | ||
FHLMC | 6.00 | 7-1-2040 | 1,172,584 | 1,229,283 | ||
FHLMC | 6.75 | 3-15-2031 | 70,000 | 83,069 | ||
FHLMC Series K032 Class A2 ±± | 3.31 | 5-25-2023 | 50,000 | 49,534 | ||
FHLMC Series K034 Class A2 ±± | 3.53 | 7-25-2023 | 59,851 | 59,208 | ||
FHLMC Series K035 Class A2 ±± | 3.46 | 8-25-2023 | 54,292 | 53,652 | ||
FHLMC Series K063 Class A2 ±± | 3.43 | 1-25-2027 | 45,000 | 43,312 | ||
FHLMC Series K070 Class A2 ±± | 3.30 | 11-25-2027 | 425,000 | 405,969 | ||
FHLMC Series K152 Class A1 | 2.83 | 5-25-2030 | 275,321 | 257,139 | ||
FHLMC Series K152 Class A2 | 3.08 | 1-25-2031 | 125,000 | 112,511 | ||
FHLMC Series K153 Class A3 ±± | 3.12 | 10-25-2031 | 70,000 | 63,510 | ||
FHLMC Series K155 Class A3 | 3.75 | 4-25-2033 | 40,000 | 37,786 | ||
FNMA | 0.50 | 11-7-2025 | 20,000 | 17,974 | ||
FNMA | 0.63 | 4-22-2025 | 650,000 | 595,288 | ||
FNMA | 1.50 | 2-1-2052 | 669,100 | 521,931 | ||
FNMA | 2.00 | 6-1-2037 | 703,622 | 633,200 | ||
FNMA | 2.00 | 6-1-2037 | 2,845,512 | 2,560,764 | ||
FNMA | 2.00 | 1-1-2041 | 775,888 | 662,502 | ||
FNMA | 2.00 | 2-1-2042 | 816,593 | 693,680 | ||
FNMA | 2.00 | 2-1-2052 | 16,193,224 | 13,342,090 | ||
FNMA | 2.00 | 2-1-2052 | 6,870,035 | 5,668,563 | ||
FNMA | 2.50 | 2-1-2035 | 730,717 | 680,027 | ||
FNMA | 2.50 | 11-1-2050 | 3,087,301 | 2,679,395 | ||
FNMA %% | 2.50 | 12-13-2052 | 500,000 | 427,695 | ||
FNMA | 3.00 | 12-1-2026 | 934,578 | 903,509 |
See accompanying notes to portfolio of investments
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 1
Portfolio of investments—November 30, 2022 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Agency securities (continued) | ||||||
FNMA | 3.00% | 12-1-2030 | $ | 227,913 | $ 219,117 | |
FNMA | 3.00 | 1-1-2034 | 135,059 | 127,495 | ||
FNMA | 3.00 | 8-1-2036 | 99,061 | 94,012 | ||
FNMA | 3.00 | 2-1-2037 | 548,789 | 520,816 | ||
FNMA | 3.00 | 8-1-2043 | 1,114,016 | 1,022,244 | ||
FNMA | 3.00 | 11-1-2046 | 1,253,905 | 1,150,730 | ||
FNMA | 3.00 | 12-1-2047 | 618,579 | 555,613 | ||
FNMA %% | 3.00 | 12-13-2052 | 500,000 | 442,475 | ||
FNMA | 3.50 | 4-1-2034 | 1,217,840 | 1,183,277 | ||
FNMA | 3.50 | 1-1-2035 | 80,991 | 78,209 | ||
FNMA | 3.50 | 4-1-2037 | 375,054 | 361,520 | ||
FNMA | 3.50 | 6-1-2042 | 231,908 | 218,677 | ||
FNMA | 3.50 | 7-1-2042 | 352,572 | 332,571 | ||
FNMA | 3.50 | 9-1-2043 | 774,168 | 729,434 | ||
FNMA | 3.50 | 3-1-2048 | 228,713 | 213,489 | ||
FNMA %% | 3.50 | 12-13-2052 | 500,000 | 457,656 | ||
FNMA | 4.00 | 6-1-2042 | 294,558 | 287,725 | ||
FNMA | 4.00 | 8-1-2043 | 1,529,818 | 1,494,324 | ||
FNMA | 4.00 | 12-1-2047 | 905,466 | 877,260 | ||
FNMA | 4.00 | 2-1-2048 | 1,365,861 | 1,342,530 | ||
FNMA | 4.00 | 6-1-2048 | 241,552 | 232,768 | ||
FNMA | 4.00 | 8-1-2048 | 164,038 | 157,573 | ||
FNMA | 4.00 | 2-1-2050 | 393,484 | 375,621 | ||
FNMA %% | 4.00 | 12-13-2052 | 500,000 | 472,793 | ||
FNMA | 4.50 | 5-1-2040 | 166,647 | 167,069 | ||
FNMA | 4.50 | 2-1-2047 | 1,124,734 | 1,117,845 | ||
FNMA | 4.50 | 4-1-2048 | 311,581 | 309,512 | ||
FNMA | 4.50 | 8-1-2048 | 17,599 | 17,381 | ||
FNMA | 4.50 | 9-1-2052 | 1,498,860 | 1,460,379 | ||
FNMA | 5.00 | 1-1-2042 | 137,257 | 140,947 | ||
FNMA | 5.00 | 6-1-2045 | 614,623 | 629,466 | ||
FNMA | 5.00 | 7-1-2045 | 833,691 | 852,549 | ||
FNMA | 5.50 | 9-1-2040 | 1,173,768 | 1,232,378 | ||
FNMA | 6.00 | 5-1-2041 | 69,696 | 72,927 | ||
FNMA | 6.21 | 8-6-2038 | 60,000 | 70,076 | ||
FNMA | 6.25 | 5-15-2029 | 100,000 | 112,699 | ||
FNMA | 7.13 | 1-15-2030 | 20,000 | 23,802 | ||
FNMA | 7.25 | 5-15-2030 | 130,000 | 156,701 | ||
FNMA | 2.50 | 1-1-2052 | 13,791,470 | 11,823,614 | ||
FNMA Series 2016-M5 Class A2 | 2.47 | 4-25-2026 | 220,000 | 205,037 | ||
FNMA Series 2016-M7 Class A2 | 2.50 | 9-25-2026 | 102,252 | 95,713 | ||
FNMA Series 2017-M1 Class A2 ±± | 2.50 | 10-25-2026 | 215,978 | 200,687 | ||
FNMA Series 2017-M11 Class A2 | 2.98 | 8-25-2029 | 865,000 | 795,584 | ||
FNMA Series 2017-M5 Class A2 ±± | 3.20 | 4-25-2029 | 57,266 | 53,480 | ||
FNMA Series 2018-M1 Class A2 ±± | 3.09 | 12-25-2027 | 14,552 | 13,686 | ||
FNMA Series 2018-M13 Class A2 ±± | 3.87 | 9-25-2030 | 73,220 | 70,200 | ||
FNMA Series 2019-M4 Class A2 | 3.61 | 2-25-2031 | 1,770,000 | 1,663,412 | ||
FNMA Series 2019-M7 Class A2 | 3.14 | 4-25-2029 | 191,086 | 177,172 | ||
GNMA %% | 2.00 | 12-20-2052 | 4,820,000 | 4,101,519 | ||
GNMA | 2.50 | 3-20-2052 | 4,666,765 | 4,103,272 | ||
GNMA | 2.50 | 4-20-2052 | 921,681 | 810,352 | ||
GNMA | 3.00 | 4-20-2045 | 2,131,648 | 1,974,082 | ||
GNMA | 3.00 | 11-20-2045 | 174,917 | 161,442 | ||
GNMA | 3.00 | 3-20-2046 | 364,703 | 336,062 | ||
GNMA | 3.00 | 12-20-2049 | 192,778 | 175,905 |
See accompanying notes to portfolio of investments
2 | Allspring Bloomberg US Aggregate ex-Corporate Portfolio
Portfolio of investments—November 30, 2022 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Agency securities (continued) | ||||||
GNMA | 3.00% | 10-20-2050 | $ | 1,352,223 | $ 1,233,449 | |
GNMA | 3.50 | 2-20-2045 | 1,062,017 | 1,004,078 | ||
GNMA | 3.50 | 6-20-2045 | 703,321 | 664,970 | ||
GNMA | 3.50 | 11-20-2045 | 812,499 | 766,563 | ||
GNMA | 3.50 | 7-20-2047 | 176,486 | 165,719 | ||
GNMA | 3.50 | 5-20-2048 | 49,634 | 46,731 | ||
GNMA | 4.00 | 8-20-2044 | 464,099 | 450,463 | ||
GNMA | 4.00 | 12-20-2047 | 1,064,829 | 1,031,662 | ||
GNMA | 4.50 | 7-20-2052 | 974,656 | 955,179 | ||
TVA | 2.88 | 2-1-2027 | 35,000 | 33,340 | ||
TVA | 4.63 | 9-15-2060 | 55,000 | 52,212 | ||
TVA | 4.65 | 6-15-2035 | 9,000 | 9,114 | ||
TVA | 5.38 | 4-1-2056 | 50,000 | 54,588 | ||
TVA | 5.50 | 6-15-2038 | 30,000 | 32,073 | ||
TVA | 5.88 | 4-1-2036 | 10,000 | 11,159 | ||
Total Agency securities (Cost $112,024,984) | 104,344,302 | |||||
Asset-backed securities: 0.24% | ||||||
Citibank Credit Card Issuance Trust Series 2018-A3 Class A3 | 3.29 | 5-23-2025 | 180,000 | 178,426 | ||
Citibank Credit Card Issuance Trust Series 2018-A7 Class A7 | 3.96 | 10-13-2030 | 130,000 | 124,279 | ||
Ford Credit Floorplan Master Owner Trust Series 2018-2 Class A | 3.17 | 3-15-2025 | 100,000 | 99,426 | ||
Ford Credit Floorplan Master Owner Trust Series 2019-2 Class A | 3.06 | 4-15-2026 | 65,000 | 62,759 | ||
Nissan Auto Receivables Owner Trust Series 2018-B Class A4 | 3.16 | 12-16-2024 | 14,525 | 14,515 | ||
Nissan Auto Receivables Owner Trust Series 2018-C Class A4 | 3.27 | 6-16-2025 | 33,728 | 33,697 | ||
Synchrony Credit Card Master Note Trust Series 2018-2 Class A | 3.47 | 5-15-2026 | 105,000 | 104,138 | ||
World Omni Auto Receivables Trust Series 2018-D Class A4 | 3.44 | 12-16-2024 | 22,266 | 22,255 | ||
Total Asset-backed securities (Cost $663,834) | 639,495 | |||||
Municipal obligations: 0.85% | ||||||
California: 0.31% | ||||||
Education revenue: 0.03% | ||||||
California Series B | 3.90 | 11-1-2047 | 15,000 | 12,794 | ||
University of California Series AD | 4.86 | 5-15-2112 | 70,000 | 60,751 | ||
73,545 | ||||||
GO revenue: 0.15% | ||||||
California Build America Bonds Various Purpose | 1.75 | 11-1-2030 | 110,000 | 88,653 | ||
California Build America Bonds Various Purpose | 7.35 | 11-1-2039 | 70,000 | 86,744 | ||
California Build America Bonds Various Purpose | 7.50 | 4-1-2034 | 100,000 | 123,129 | ||
California Build America Bonds Various Purpose | 7.60 | 11-1-2040 | 15,000 | 19,552 | ||
Los Angeles CA Community College District Build America Bonds | 6.75 | 8-1-2049 | 5,000 | 6,029 |
See accompanying notes to portfolio of investments
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 3
Portfolio of investments—November 30, 2022 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
GO revenue (continued) | ||||||
Los Angeles CA Unified School District Build America Bonds | 5.75% | 7-1-2034 | $ | 15,000 | $ 15,869 | |
Los Angeles CA Unified School District Build America Bonds | 5.76 | 7-1-2029 | 60,000 | 62,375 | ||
402,351 | ||||||
Health revenue: 0.02% | ||||||
University of California Series AD | 3.26 | 5-15-2060 | 90,000 | 60,794 | ||
Transportation revenue: 0.08% | ||||||
Bay Area CA Toll Authority Series 1 | 6.26 | 4-1-2049 | 100,000 | 114,585 | ||
Bay Area CA Toll Authority Series 1 | 6.92 | 4-1-2040 | 15,000 | 17,688 | ||
Bay Area CA Toll Authority Series 1 | 7.04 | 4-1-2050 | 60,000 | 75,439 | ||
207,712 | ||||||
Utilities revenue: 0.03% | ||||||
Los Angeles CA Department of Water & Power Build America Bonds Series D | 6.57 | 7-1-2045 | 55,000 | 65,271 | ||
Florida: 0.06% | ||||||
Miscellaneous revenue: 0.06% | ||||||
Florida Board of Administrative Finance Corporation Series A | 2.15 | 7-1-2030 | 200,000 | 161,390 | ||
Georgia: 0.00% | ||||||
Utilities revenue: 0.00% | ||||||
Municipal Electric Authority of Georgia Build America Bonds | 7.06 | 4-1-2057 | 10,000 | 10,000 | ||
Illinois: 0.09% | ||||||
GO revenue: 0.02% | ||||||
Illinois Taxable Pension | 5.10 | 6-1-2033 | 50,000 | 48,198 | ||
Miscellaneous revenue: 0.02% | ||||||
Illinois Build America Bonds Series 3 | 6.73 | 4-1-2035 | 45,000 | 46,194 | ||
Tax revenue: 0.05% | ||||||
Chicago IL Transit Authority Series B | 6.90 | 12-1-2040 | 115,000 | 129,749 | ||
Kansas: 0.00% | ||||||
Miscellaneous revenue: 0.00% | ||||||
Kansas Development Finance Authority Series H | 4.93 | 4-15-2045 | 5,000 | 4,735 | ||
Massachusetts: 0.05% | ||||||
GO revenue: 0.05% | ||||||
Massachusetts Build America Bonds Series A | 4.91 | 5-1-2029 | 130,000 | 130,091 | ||
Massachusetts Build America Bonds Series D | 4.50 | 8-1-2031 | 5,000 | 4,897 | ||
134,988 | ||||||
New Jersey: 0.06% | ||||||
Transportation revenue: 0.06% | ||||||
New Jersey Transportation Trust | 6.56 | 12-15-2040 | 60,000 | 64,516 | ||
New Jersey Turnpike Authority Build America Bonds Series A | 7.10 | 1-1-2041 | 70,000 | 85,602 |
See accompanying notes to portfolio of investments
4 | Allspring Bloomberg US Aggregate ex-Corporate Portfolio
Portfolio of investments—November 30, 2022 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Transportation revenue (continued) | ||||||
150,118 | ||||||
New York: 0.12% | ||||||
Airport revenue: 0.05% | ||||||
Port Authority of New York & New Jersey Consolidated Bonds Series 201 | 4.23% | 10-15-2057 | $ | 100,000 | $ 86,642 | |
Port Authority of New York & New Jersey Consolidated Bonds Series 210 | 4.03 | 9-1-2048 | 50,000 | 42,437 | ||
129,079 | ||||||
Tax revenue: 0.07% | ||||||
New York Metropolitan Transportation Authority Dedicated Tax Fund Build America Bonds | 7.34 | 11-15-2039 | 140,000 | 172,343 | ||
Water & sewer revenue: 0.00% | ||||||
New York NY Municipal Water Finance Authority Series AA | 5.44 | 6-15-2043 | 10,000 | 10,643 | ||
Ohio: 0.00% | ||||||
Education revenue: 0.00% | ||||||
Ohio State University Build America Bonds | 4.91 | 6-1-2040 | 5,000 | 5,098 | ||
Oregon: 0.02% | ||||||
Tax revenue: 0.02% | ||||||
Oregon Department of Transportation Build America Bonds Series A | 5.83 | 11-15-2034 | 50,000 | 53,830 | ||
Pennsylvania: 0.00% | ||||||
Transportation revenue: 0.00% | ||||||
Pennsylvania Turnpike Commission Series B | 5.51 | 12-1-2045 | 5,000 | 5,137 | ||
Texas: 0.11% | ||||||
Airport revenue: 0.05% | ||||||
Dallas Fort Worth TX International Airport Refunding Bonds Series 2021C | 2.84 | 11-1-2046 | 170,000 | 121,963 | ||
GO revenue: 0.03% | ||||||
Texas Transportation Commission | 2.56 | 4-1-2042 | 90,000 | 67,005 | ||
Transportation revenue: 0.03% | ||||||
Grand Parkway Transportation Corporation Series 2013E | 5.18 | 10-1-2042 | 50,000 | 50,947 | ||
Texas Private Activity Bond North Tarrant Express Managed Lanes Project Series B | 3.92 | 12-31-2049 | 50,000 | 38,524 | ||
89,471 | ||||||
Wisconsin: 0.03% | ||||||
Tax revenue: 0.03% | ||||||
Wisconsin General Fund Annual Appropriations Series C | 3.15 | 5-1-2027 | 80,000 | 75,639 | ||
Total Municipal obligations (Cost $2,682,573) | 2,225,253 | |||||
Non-agency mortgage-backed securities: 0.74% | ||||||
Benchmark Mortgage Trust Series 2018-B1 Class A4 | 3.40 | 1-15-2051 | 25,000 | 23,776 | ||
Benchmark Mortgage Trust Series 2018-B6 Class A4 | 4.26 | 10-10-2051 | 135,000 | 128,922 | ||
CFCRE Commercial Mortgage Trust Series 2016-C7 Class A3 | 3.84 | 12-10-2054 | 20,000 | 18,789 |
See accompanying notes to portfolio of investments
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 5
Portfolio of investments—November 30, 2022 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Non-agency mortgage-backed securities (continued) | ||||||
Citigroup Commercial Mortgage Trust Series 2015-GC27 Class A5 | 3.14% | 2-10-2048 | $ | 55,000 | $ 52,184 | |
Citigroup Commercial Mortgage Trust Series 2016-GC36 Class B ±± | 4.91 | 2-10-2049 | 40,000 | 35,808 | ||
Citigroup Commercial Mortgage Trust Series 2016-GC36 Class C ±± | 4.91 | 2-10-2049 | 95,000 | 77,494 | ||
Citigroup Commercial Mortgage Trust Series 2016-GC37 Class B | 4.23 | 4-10-2049 | 110,000 | 100,595 | ||
Citigroup Commercial Mortgage Trust Series 2016-P4 Class A4 | 2.90 | 7-10-2049 | 135,000 | 123,600 | ||
Commercial Mortgage Trust Series 2013-CR6 Class A4 | 3.10 | 3-10-2046 | 35,276 | 35,169 | ||
Commercial Mortgage Trust Series 2014-UBS5 Class C ±± | 4.77 | 9-10-2047 | 195,000 | 175,153 | ||
Commercial Mortgage Trust Series 2014-UBS6 Class C ±± | 4.58 | 12-10-2047 | 60,000 | 55,055 | ||
Commercial Mortgage Trust Series 2015-CR23 Class A3 | 3.23 | 5-10-2048 | 52,996 | 50,512 | ||
Commercial Mortgage Trust Series 2016-COR1 Class C ±± | 4.47 | 10-10-2049 | 65,000 | 57,629 | ||
Commercial Mortgage Trust Series 2016-CR28 Class A4 | 3.76 | 2-10-2049 | 215,000 | 203,741 | ||
Goldman Sachs Mortgage Securities Trust Series 2014-GC18 Class B ±± | 4.89 | 1-10-2047 | 80,000 | 73,165 | ||
Goldman Sachs Mortgage Securities Trust Series 2018-GS10 Class AAB ±± | 4.11 | 7-10-2051 | 180,000 | 174,251 | ||
Goldman Sachs Mortgage Securities Trust Series 2018-GS9 Class A4 ±± | 3.99 | 3-10-2051 | 140,000 | 131,719 | ||
JPMorgan Chase Commercial Mortgage Securities Trust Series 2013-C15 Class A4 | 4.10 | 11-15-2045 | 9,687 | 9,591 | ||
JPMorgan Chase Commercial Mortgage Securities Trust Series 2015-C29 Class A4 | 3.61 | 5-15-2048 | 200,000 | 189,834 | ||
JPMorgan Chase Commercial Mortgage Securities Trust Series 2015-C31 Class A3 | 3.80 | 8-15-2048 | 169,285 | 160,884 | ||
Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C22 Class A4 | 3.31 | 4-15-2048 | 60,000 | 56,717 | ||
Total Non-agency mortgage-backed securities (Cost $2,111,472) | 1,934,588 | |||||
U.S. Treasury securities: 52.81% | ||||||
TIPS | 2.75 | 8-15-2032 | 3,035,000 | 2,811,169 | ||
U.S. Treasury Bond | 1.13 | 5-15-2040 | 7,075,000 | 4,527,447 | ||
U.S. Treasury Bond | 1.38 | 11-15-2040 | 735,000 | 487,426 | ||
U.S. Treasury Bond | 1.63 | 11-15-2050 | 440,000 | 271,769 | ||
U.S. Treasury Bond | 1.88 | 2-15-2041 | 315,000 | 227,637 | ||
U.S. Treasury Bond | 1.88 | 2-15-2051 | 2,065,000 | 1,361,609 | ||
U.S. Treasury Bond | 2.00 | 2-15-2050 | 1,865,000 | 1,273,955 | ||
U.S. Treasury Bond | 2.00 | 8-15-2051 | 2,940,000 | 1,998,052 | ||
U.S. Treasury Bond | 2.25 | 5-15-2041 | 300,000 | 230,520 | ||
U.S. Treasury Bond | 2.25 | 8-15-2046 | 390,000 | 283,222 | ||
U.S. Treasury Bond | 2.38 | 5-15-2051 | 1,920,000 | 1,427,850 | ||
U.S. Treasury Bond | 2.50 | 2-15-2045 | 555,000 | 427,892 | ||
U.S. Treasury Bond | 2.50 | 2-15-2046 | 100,000 | 76,617 | ||
U.S. Treasury Bond | 2.50 | 5-15-2046 | 200,000 | 152,977 | ||
U.S. Treasury Bond | 2.75 | 11-15-2042 | 340,000 | 279,212 | ||
U.S. Treasury Bond | 2.75 | 8-15-2047 | 270,000 | 216,622 | ||
U.S. Treasury Bond | 2.75 | 11-15-2047 | 270,000 | 216,622 | ||
U.S. Treasury Bond | 2.88 | 5-15-2043 | 605,000 | 505,860 | ||
U.S. Treasury Bond | 2.88 | 8-15-2045 | 265,000 | 218,180 | ||
U.S. Treasury Bond | 2.88 | 11-15-2046 | 265,000 | 217,931 | ||
U.S. Treasury Bond | 2.88 | 5-15-2052 | 645,000 | 536,156 |
See accompanying notes to portfolio of investments
6 | Allspring Bloomberg US Aggregate ex-Corporate Portfolio
Portfolio of investments—November 30, 2022 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
U.S. Treasury securities (continued) | ||||||
U.S. Treasury Bond | 3.00% | 5-15-2042 | $ | 145,000 | $ 125,074 | |
U.S. Treasury Bond | 3.00 | 5-15-2045 | 105,000 | 88,458 | ||
U.S. Treasury Bond | 3.00 | 11-15-2045 | 35,000 | 29,462 | ||
U.S. Treasury Bond | 3.00 | 2-15-2047 | 310,000 | 260,412 | ||
U.S. Treasury Bond | 3.00 | 5-15-2047 | 5,961,000 | 5,011,198 | ||
U.S. Treasury Bond | 3.00 | 2-15-2048 | 435,000 | 366,471 | ||
U.S. Treasury Bond�� | 3.00 | 2-15-2049 | 320,000 | 271,488 | ||
U.S. Treasury Bond | 3.13 | 11-15-2041 | 1,090,000 | 963,841 | ||
U.S. Treasury Bond | 3.13 | 2-15-2043 | 475,000 | 414,734 | ||
U.S. Treasury Bond | 3.13 | 8-15-2044 | 110,000 | 95,068 | ||
U.S. Treasury Bond | 3.13 | 5-15-2048 | 250,000 | 215,928 | ||
U.S. Treasury Bond | 3.38 | 5-15-2044 | 20,000 | 18,045 | ||
U.S. Treasury Bond | 3.63 | 8-15-2043 | 110,000 | 103,679 | ||
U.S. Treasury Bond | 3.63 | 2-15-2044 | 35,000 | 32,918 | ||
U.S. Treasury Bond | 3.75 | 8-15-2041 | 35,000 | 34,044 | ||
U.S. Treasury Bond | 3.75 | 11-15-2043 | 350,000 | 335,863 | ||
U.S. Treasury Bond | 3.88 | 8-15-2040 | 1,040,000 | 1,037,156 | ||
U.S. Treasury Bond | 4.25 | 11-15-2040 | 480,000 | 502,069 | ||
U.S. Treasury Bond | 5.25 | 11-15-2028 | 5,975,000 | 6,406,087 | ||
U.S. Treasury Bond | 5.50 | 8-15-2028 | 275,000 | 297,559 | ||
U.S. Treasury Bond | 6.13 | 11-15-2027 | 245,000 | 269,567 | ||
U.S. Treasury Bond | 6.38 | 8-15-2027 | 50,000 | 55,232 | ||
U.S. Treasury Bond | 6.88 | 8-15-2025 | 895,000 | 955,692 | ||
U.S. Treasury Note | 0.25 | 11-15-2023 | 3,105,000 | 2,974,736 | ||
U.S. Treasury Note | 0.25 | 3-15-2024 | 2,690,000 | 2,543,626 | ||
U.S. Treasury Note | 0.25 | 5-15-2024 | 1,265,000 | 1,188,062 | ||
U.S. Treasury Note | 0.25 | 5-31-2025 | 1,790,000 | 1,624,145 | ||
U.S. Treasury Note | 0.25 | 6-30-2025 | 1,295,000 | 1,173,897 | ||
U.S. Treasury Note | 0.25 | 8-31-2025 | 3,980,000 | 3,581,378 | ||
U.S. Treasury Note | 0.50 | 2-28-2026 | 460,000 | 410,712 | ||
U.S. Treasury Note | 0.63 | 7-31-2026 | 3,145,000 | 2,786,151 | ||
U.S. Treasury Note | 0.63 | 11-30-2027 | 4,585,000 | 3,919,100 | ||
U.S. Treasury Note | 0.63 | 12-31-2027 | 2,145,000 | 1,829,199 | ||
U.S. Treasury Note | 0.63 | 5-15-2030 | 870,000 | 699,263 | ||
U.S. Treasury Note | 0.63 | 8-15-2030 | 2,100,000 | 1,677,539 | ||
U.S. Treasury Note | 0.75 | 11-15-2024 | 5,290,000 | 4,931,892 | ||
U.S. Treasury Note | 0.75 | 5-31-2026 | 260,000 | 232,416 | ||
U.S. Treasury Note | 0.75 | 8-31-2026 | 3,235,000 | 2,873,084 | ||
U.S. Treasury Note | 0.75 | 1-31-2028 | 1,615,000 | 1,383,159 | ||
U.S. Treasury Note | 0.88 | 6-30-2026 | 1,925,000 | 1,725,657 | ||
U.S. Treasury Note | 1.00 | 7-31-2028 | 2,885,000 | 2,473,775 | ||
U.S. Treasury Note | 1.13 | 2-28-2025 | 1,855,000 | 1,731,092 | ||
U.S. Treasury Note | 1.13 | 8-31-2028 | 3,010,000 | 2,595,537 | ||
U.S. Treasury Note | 1.25 | 8-31-2024 | 6,445,000 | 6,096,819 | ||
U.S. Treasury Note | 1.25 | 3-31-2028 | 485,000 | 425,209 | ||
U.S. Treasury Note | 1.25 | 9-30-2028 | 2,230,000 | 1,933,480 | ||
U.S. Treasury Note | 1.25 | 8-15-2031 | 3,115,000 | 2,564,278 | ||
U.S. Treasury Note | 1.38 | 10-31-2028 | 1,720,000 | 1,499,356 | ||
U.S. Treasury Note | 1.38 | 11-15-2031 | 2,455,000 | 2,030,458 | ||
U.S. Treasury Note | 1.50 | 10-31-2024 | 225,000 | 213,170 | ||
U.S. Treasury Note | 1.50 | 8-15-2026 | 545,000 | 498,462 | ||
U.S. Treasury Note | 1.50 | 11-30-2028 | 1,595,000 | 1,398,803 | ||
U.S. Treasury Note | 1.63 | 5-15-2026 | 1,255,000 | 1,158,326 | ||
U.S. Treasury Note | 1.75 | 6-30-2024 | 1,655,000 | 1,585,438 | ||
U.S. Treasury Note | 1.88 | 8-31-2024 | 7,235,000 | 6,916,773 |
See accompanying notes to portfolio of investments
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 7
Portfolio of investments—November 30, 2022 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
U.S. Treasury securities (continued) | ||||||
U.S. Treasury Note | 1.88% | 2-15-2032 | $ | 2,140,000 | $ 1,842,741 | |
U.S. Treasury Note | 1.88 | 11-15-2051 | 545,000 | 358,401 | ||
U.S. Treasury Note | 2.00 | 2-15-2025 | 340,000 | 323,624 | ||
U.S. Treasury Note | 2.00 | 8-15-2025 | 10,000 | 9,453 | ||
U.S. Treasury Note | 2.13 | 11-30-2023 | 750,000 | 730,752 | ||
U.S. Treasury Note | 2.13 | 11-30-2024 | 995,000 | 952,907 | ||
U.S. Treasury Note | 2.13 | 5-15-2025 | 880,000 | 837,306 | ||
U.S. Treasury Note | 2.25 | 12-31-2023 | 15,000 | 14,605 | ||
U.S. Treasury Note | 2.25 | 4-30-2024 | 1,370,000 | 1,325,636 | ||
U.S. Treasury Note | 2.25 | 11-15-2024 | 640,000 | 614,625 | ||
U.S. Treasury Note | 2.25 | 12-31-2024 | 1,485,000 | 1,423,918 | ||
U.S. Treasury Note | 2.25 | 11-15-2025 | 20,000 | 18,983 | ||
U.S. Treasury Note | 2.25 | 11-15-2027 | 20,000 | 18,563 | ||
U.S. Treasury Note | 2.38 | 3-31-2029 | 145,000 | 133,440 | ||
U.S. Treasury Note | 2.38 | 5-15-2029 | 100,000 | 92,004 | ||
U.S. Treasury Note | 2.50 | 4-30-2024 | 2,150,000 | 2,088,020 | ||
U.S. Treasury Note | 2.50 | 1-31-2025 | 1,670,000 | 1,607,832 | ||
U.S. Treasury Note | 2.50 | 2-28-2026 | 800,000 | 762,375 | ||
U.S. Treasury Note | 2.63 | 12-31-2025 | 95,000 | 91,078 | ||
U.S. Treasury Note | 2.63 | 2-15-2029 | 3,060,000 | 2,860,622 | ||
U.S. Treasury Note | 2.75 | 2-15-2024 | 3,940,000 | 3,852,581 | ||
U.S. Treasury Note | 2.75 | 2-28-2025 | 90,000 | 87,093 | ||
U.S. Treasury Note | 2.88 | 11-30-2025 | 1,145,000 | 1,106,356 | ||
U.S. Treasury Note | 2.88 | 5-15-2028 | 2,295,000 | 2,185,988 | ||
U.S. Treasury Note | 2.88 | 8-15-2028 | 2,510,000 | 2,387,147 | ||
U.S. Treasury Note | 3.13 | 11-15-2028 | 1,910,000 | 1,838,897 | ||
U.S. Treasury Note | 6.00 | 2-15-2026 | 450,000 | 475,576 | ||
U.S. Treasury Note | 6.50 | 11-15-2026 | 745,000 | 813,214 | ||
U.S. Treasury Note | 7.50 | 11-15-2024 | 1,085,000 | 1,148,701 | ||
U.S. Treasury Note | 7.63 | 2-15-2025 | 3,660,000 | 3,911,625 | ||
Total U.S. Treasury securities (Cost $151,535,993) | 138,227,825 | |||||
Yankee corporate bonds and notes: 2.48% | ||||||
Energy: 0.09% | ||||||
Oil, gas & consumable fuels: 0.09% | ||||||
Equinor ASA | 1.75 | 1-22-2026 | 150,000 | 137,579 | ||
Equinor ASA | 3.00 | 4-6-2027 | 70,000 | 65,583 | ||
Equinor ASA | 3.63 | 4-6-2040 | 40,000 | 33,482 | ||
236,644 | ||||||
Financials: 2.39% | ||||||
Banks: 2.39% | ||||||
African Development Bank | 0.88 | 7-22-2026 | 140,000 | 123,360 | ||
Asian Development Bank | 0.38 | 9-3-2025 | 200,000 | 179,547 | ||
Asian Development Bank | 1.50 | 3-4-2031 | 110,000 | 91,627 | ||
Asian Development Bank | 1.75 | 9-19-2029 | 160,000 | 139,010 | ||
Asian Development Bank | 1.88 | 1-24-2030 | 110,000 | 95,978 | ||
Asian Development Bank | 2.00 | 4-24-2026 | 60,000 | 55,851 | ||
Asian Development Bank | 2.13 | 3-19-2025 | 60,000 | 57,044 | ||
Asian Development Bank | 2.63 | 1-12-2027 | 180,000 | 170,508 | ||
Asian Development Bank | 5.82 | 6-16-2028 | 10,000 | 10,872 | ||
Asian Development Bank | 6.22 | 8-15-2027 | 80,000 | 86,721 |
See accompanying notes to portfolio of investments
8 | Allspring Bloomberg US Aggregate ex-Corporate Portfolio
Portfolio of investments—November 30, 2022 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Banks (continued) | ||||||
Asian Infrastructure Investment Bank | 0.50% | 5-28-2025 | $ | 200,000 | $ 181,764 | |
European Bank for Reconstruction & Development | 0.50 | 5-19-2025 | 120,000 | 109,530 | ||
European Investment Bank | 0.88 | 5-17-2030 | 50,000 | 40,521 | ||
European Investment Bank | 1.25 | 2-14-2031 | 170,000 | 140,444 | ||
European Investment Bank | 1.88 | 2-10-2025 | 20,000 | 18,987 | ||
European Investment Bank | 2.25 | 6-24-2024 | 640,000 | 618,575 | ||
European Investment Bank | 3.25 | 1-29-2024 | 20,000 | 19,703 | ||
Inter-American Development Bank | 0.88 | 4-20-2026 | 30,000 | 26,936 | ||
Inter-American Development Bank | 1.13 | 7-20-2028 | 280,000 | 239,946 | ||
Inter-American Development Bank | 2.00 | 6-2-2026 | 260,000 | 242,032 | ||
Inter-American Development Bank | 2.13 | 1-15-2025 | 150,000 | 143,378 | ||
Inter-American Development Bank | 2.38 | 7-7-2027 | 30,000 | 27,958 | ||
Inter-American Development Bank | 3.13 | 9-18-2028 | 50,000 | 47,800 | ||
Inter-American Development Bank | 7.00 | 6-15-2025 | 50,000 | 53,175 | ||
International Bank for Reconstruction & Development | 0.38 | 7-28-2025 | 220,000 | 198,963 | ||
International Bank for Reconstruction & Development | 0.75 | 8-26-2030 | 130,000 | 102,993 | ||
International Bank for Reconstruction & Development | 1.50 | 8-28-2024 | 30,000 | 28,492 | ||
International Bank for Reconstruction & Development | 1.63 | 11-3-2031 | 190,000 | 158,026 | ||
International Bank for Reconstruction & Development | 1.88 | 10-27-2026 | 130,000 | 119,425 | ||
International Bank for Reconstruction & Development | 2.50 | 3-19-2024 | 160,000 | 155,709 | ||
International Bank for Reconstruction & Development | 2.50 | 7-29-2025 | 350,000 | 335,071 | ||
International Bank for Reconstruction & Development | 2.50 | 11-22-2027 | 80,000 | 74,708 | ||
International Bank for Reconstruction & Development | 2.50 | 3-29-2032 | 70,000 | 62,483 | ||
International Finance Corporation | 1.38 | 10-16-2024 | 100,000 | 94,392 | ||
International Finance Corporation | 2.13 | 4-7-2026 | 100,000 | 93,774 | ||
KfW ¤ | 0.00 | 4-18-2036 | 80,000 | 46,950 | ||
KfW ¤ | 0.00 | 6-29-2037 | 50,000 | 28,186 | ||
KfW | 0.50 | 9-20-2024 | 150,000 | 139,734 | ||
KfW | 0.63 | 1-22-2026 | 190,000 | 170,317 | ||
KfW | 0.75 | 9-30-2030 | 30,000 | 23,770 | ||
KfW | 2.00 | 5-2-2025 | 40,000 | 37,932 | ||
KfW | 2.88 | 4-3-2028 | 410,000 | 388,877 | ||
Korea Development Bank | 3.38 | 9-16-2025 | 210,000 | 200,697 | ||
Landwirtschaftliche Rentenbank | 1.75 | 7-27-2026 | 10,000 | 9,172 | ||
Landwirtschaftliche Rentenbank | 2.00 | 1-13-2025 | 30,000 | 28,535 | ||
Nordic Investment Bank | 0.38 | 9-20-2024 | 200,000 | 185,828 | ||
Oesterreichische Kontrollbank AG | 1.50 | 2-12-2025 | 190,000 | 178,948 | ||
Swedish Export Credit ¤ | 0.00 | 5-11-2037 | 65,000 | 33,253 | ||
Swedish Export Credit | 4.63 | 11-28-2025 | 260,000 | 261,277 | ||
Swedish Export Credit | 2.25 | 3-22-2027 | 200,000 | 185,272 | ||
6,264,051 | ||||||
Total Yankee corporate bonds and notes (Cost $7,073,030) | 6,500,695 | |||||
Yankee government bonds: 1.91% | ||||||
Canada Government | 1.63 | 1-22-2025 | 135,000 | 127,765 | ||
Export Development Canada | 2.63 | 2-21-2024 | 170,000 | 165,582 | ||
Export-Import Bank of Korea | 2.88 | 1-21-2025 | 200,000 | 190,608 | ||
Japan Bank for International Cooperation | 1.88 | 4-15-2031 | 210,000 | 173,181 | ||
Japan Bank for International Cooperation | 3.00 | 5-29-2024 | 300,000 | 291,921 | ||
Oriental Republic of Uruguay | 4.38 | 1-23-2031 | 75,000 | 74,896 | ||
Oriental Republic of Uruguay | 4.50 | 8-14-2024 | 10,000 | 9,988 | ||
Oriental Republic of Uruguay | 4.98 | 4-20-2055 | 90,000 | 86,282 | ||
Oriental Republic of Uruguay | 5.10 | 6-18-2050 | 35,000 | 34,447 | ||
Province of Alberta | 1.88 | 11-13-2024 | 210,000 | 199,895 |
See accompanying notes to portfolio of investments
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 9
Portfolio of investments—November 30, 2022 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Yankee government bonds (continued) | ||||||
Province of British Columbia | 7.25% | 9-1-2036 | $ | 100,000 | $ 124,598 | |
Province of Manitoba | 3.05 | 5-14-2024 | 150,000 | 146,618 | ||
Province of Ontario | 2.00 | 10-2-2029 | 90,000 | 78,432 | ||
Province of Ontario | 2.30 | 6-15-2026 | 70,000 | 64,911 | ||
Province of Ontario | 2.50 | 4-27-2026 | 70,000 | 65,701 | ||
Province of Ontario | 3.20 | 5-16-2024 | 5,000 | 4,899 | ||
Province of Quebec | 2.50 | 4-9-2024 | 70,000 | 68,074 | ||
Province of Quebec | 2.50 | 4-20-2026 | 75,000 | 70,303 | ||
Province of Quebec | 0.60 | 7-23-2025 | 90,000 | 81,704 | ||
Republic of Chile | 3.24 | 2-6-2028 | 210,000 | 196,166 | ||
Republic of Chile | 3.63 | 10-30-2042 | 175,000 | 134,704 | ||
Republic of Hungary | 5.38 | 3-25-2024 | 19,000 | 18,989 | ||
Republic of Hungary | 7.63 | 3-29-2041 | 50,000 | 54,402 | ||
Republic of Indonesia | 4.10 | 4-24-2028 | 225,000 | 217,133 | ||
Republic of Italy | 2.88 | 10-17-2029 | 215,000 | 177,483 | ||
Republic of Italy | 6.88 | 9-27-2023 | 60,000 | 60,386 | ||
Republic of Korea | 5.63 | 11-3-2025 | 100,000 | 101,815 | ||
Republic of Panama | 2.25 | 9-29-2032 | 200,000 | 150,250 | ||
Republic of Panama | 9.38 | 4-1-2029 | 185,000 | 220,749 | ||
Republic of Peru | 2.84 | 6-20-2030 | 180,000 | 153,867 | ||
Republic of Peru | 3.23 | 7-28-2121 | 75,000 | 44,732 | ||
Republic of Peru | 3.60 | 1-15-2072 | 100,000 | 66,348 | ||
Republic of Peru | 5.63 | 11-18-2050 | 20,000 | 19,904 | ||
Republic of Philippines | 3.70 | 2-2-2042 | 215,000 | 174,535 | ||
Republic of Philippines | 9.50 | 2-2-2030 | 150,000 | 187,874 | ||
Republic of Philippines | 10.63 | 3-16-2025 | 55,000 | 61,932 | ||
Republic of Poland | 3.25 | 4-6-2026 | 10,000 | 9,525 | ||
State of Israel | 3.38 | 1-15-2050 | 200,000 | 152,410 | ||
State of Israel | 5.50 | 12-4-2023 | 120,000 | 120,732 | ||
State of Israel | 5.50 | 9-18-2033 | 6,000 | 6,644 | ||
United Mexican States | 4.35 | 1-15-2047 | 225,000 | 176,943 | ||
United Mexican States | 4.50 | 1-31-2050 | 260,000 | 207,602 | ||
United Mexican States | 4.75 | 3-8-2044 | 54,000 | 45,342 | ||
United Mexican States | 5.75 | 10-12-2110 | 163,000 | 140,803 | ||
United Mexican States | 6.05 | 1-11-2040 | 40,000 | 40,120 | ||
Total Yankee government bonds (Cost $5,758,837) | 5,001,195 |
Yield | Shares | |||||
Short-term investments: 3.70% | ||||||
Investment companies: 3.70% | ||||||
Allspring Government Money Market Fund Select Class ♠∞## | 3.60 | 9,680,282 | 9,680,282 | |||
Total Short-term investments (Cost $9,680,282) | 9,680,282 | |||||
Total investments in securities (Cost $291,531,005) | 102.59% | 268,553,635 | ||||
Other assets and liabilities, net | (2.59) | (6,792,386) | ||||
Total net assets | 100.00% | $261,761,249 |
See accompanying notes to portfolio of investments
10 | Allspring Bloomberg US Aggregate ex-Corporate Portfolio
Portfolio of investments—November 30, 2022 (unaudited)
±± | The coupon of the security is adjusted based on the principal and/or interest payments received from the underlying pool of mortgages as well as the credit quality and the actual prepayment speed of the underlying mortgages. The rate shown is the rate in effect at period end. |
¤ | The security is issued in zero coupon form with no periodic interest payments. |
## | All or a portion of this security is segregated for when-issued securities. |
♠ | The issuer of the security is an affiliated person of the Portfolio as defined in the Investment Company Act of 1940. |
∞ | The rate represents the 7-day annualized yield at period end. |
%% | The security is purchased on a when-issued basis. |
Abbreviations: | |
FFCB | Federal Farm Credit Banks |
FHLB | Federal Home Loan Bank |
FHLMC | Federal Home Loan Mortgage Corporation |
FNMA | Federal National Mortgage Association |
GNMA | Government National Mortgage Association |
GO | General obligation |
TIPS | Treasury Inflation-Protected Securities |
TVA | Tennessee Valley Authority |
Investments in affiliates
An affiliated investment is an investment in which the Portfolio owns at least 5% of the outstanding voting shares of the issuer or as a result of other relationships, such as the Portfolio and the issuer having the same adviser or investment manager. Transactions with issuers that were affiliates of the Portfolio at the end of the period were as follows:
Value, beginning of period | Purchases | Sales proceeds | Net realized gains (losses) | Net change in unrealized gains (losses) | Value, end of period | Shares, end of period | Income from affiliated securities | |
Short-term investments | ||||||||
Allspring Government Money Market Fund Select Class | $100,859,173 | $161,932,427 | $(253,111,318) | $0 | $0 | $9,680,282 | 9,680,282 | $286,100 |
See accompanying notes to portfolio of investments
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 11
Notes to portfolio of investments—November 30, 2022 (unaudited)
Securities valuation
All investments are valued each business day as of the close of regular trading on the New York Stock Exchange (generally 4 p.m. Eastern Time), although the Portfolio may deviate from this calculation time under unusual or unexpected circumstances.
Debt securities are valued at the evaluated bid price provided by an independent pricing service (e.g. taking into account various factors, including yields, maturities, or credit ratings) or, if a reliable price is not available, the quoted bid price from an independent broker-dealer.
Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.
Investments which are not valued using the methods discussed above are valued at their fair value, as determined in good faith by Allspring Funds Management, LLC ("Allspring Funds Management"), which was named the valuation designee by the Board of Trustees. As the valuation designee, Allspring Funds Management is responsible for day-to-day valuation activities for the Allspring Funds. In connection with these responsibilities, Allspring Funds Management has established a Valuation Committee and has delegated to it the authority to take any actions regarding the valuation of portfolio securities that the Valuation Committee deems necessary or appropriate, including determining the fair value of portfolio securities. On a quarterly basis, the Board of Trustees receives reports of valuation actions taken by the Valuation Committee. On at least an annual basis, the Board of Trustees receives an assessment of the adequacy and effectiveness of Allspring Funds Management's process for determining the fair value of the portfolio of investments.
When-issued transactions
The Portfolio may purchase securities on a forward commitment or when-issued basis. The 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.
Inflation-indexed bonds and TIPS
The Fund 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-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.
Fair valuation measurements
Fair value measurements of investments are determined within a framework that has established a fair value hierarchy based upon the various data inputs utilized in determining the value of the 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 unobservable inputs (Level 3). The 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:
■ | Level 1 – quoted prices in active markets for identical securities |
■ | Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
■ | Level 3 – significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments) |
12 | Allspring Bloomberg US Aggregate ex-Corporate Portfolio
Notes to portfolio of investments—November 30, 2022 (unaudited)
The inputs or methodologies used for valuing investments in securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used in valuing the Portfolio’s assets and liabilities as of November 30, 2022:
Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total | |
Assets | ||||
Investments in: | ||||
Agency securities | $0 | $104,344,302 | $0 | $104,344,302 |
Asset-backed securities | 0 | 639,495 | 0 | 639,495 |
Municipal obligations | 0 | 2,225,253 | 0 | 2,225,253 |
Non-agency mortgage-backed securities | 0 | 1,934,588 | 0 | 1,934,588 |
U.S. Treasury securities | 138,227,825 | 0 | 0 | 138,227,825 |
Yankee corporate bonds and notes | 0 | 6,500,695 | 0 | 6,500,695 |
Yankee government bonds | 0 | 5,001,195 | 0 | 5,001,195 |
Short-term investments | ||||
Investment companies | 9,680,282 | 0 | 0 | 9,680,282 |
Total assets | $147,908,107 | $120,645,528 | $0 | $268,553,635 |
Additional sector, industry or geographic detail, if any, is included in the Portfolio of Investments.
For the nine months ended November 30, 2022, the Portfolio did not have any transfers into/out of Level 3.
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 13