Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Agency securities: 25.60% | ||||||
FHLMC | 2.00% | 12-1-2051 | $ | 887,625 | $ 727,738 | |
FHLMC | 2.00 | 12-1-2051 | 1,544,034 | 1,263,901 | ||
FHLMC | 2.00 | 11-25-2059 | 917,314 | 754,856 | ||
FHLMC | 2.50 | 12-1-2051 | 2,941,641 | 2,505,825 | ||
FHLMC | 2.50 | 1-1-2052 | 3,597,468 | 3,065,301 | ||
FHLMC | 3.00 | 7-1-2046 | 283,483 | 255,483 | ||
FHLMC | 3.00 | 7-1-2046 | 333,924 | 301,219 | ||
FHLMC | 3.00 | 11-1-2049 | 1,293,087 | 1,149,287 | ||
FHLMC | 3.50 | 4-1-2043 | 362,415 | 340,388 | ||
FHLMC | 3.50 | 5-1-2044 | 228,784 | 214,736 | ||
FHLMC | 3.50 | 6-1-2046 | 148,497 | 138,162 | ||
FHLMC | 3.50 | 2-1-2047 | 879,068 | 816,886 | ||
FHLMC | 3.50 | 4-1-2047 | 176,902 | 164,827 | ||
FHLMC | 3.50 | 12-1-2047 | 676,504 | 630,326 | ||
FHLMC | 3.50 | 3-1-2048 | 712,532 | 657,527 | ||
FHLMC | 3.50 | 8-1-2049 | 180,419 | 166,044 | ||
FHLMC | 4.00 | 4-1-2044 | 281,014 | 273,608 | ||
FHLMC | 4.00 | 8-1-2044 | 149,369 | 144,752 | ||
FHLMC | 4.00 | 6-1-2048 | 760,367 | 731,417 | ||
FHLMC | 4.50 | 8-1-2048 | 1,094,824 | 1,074,580 | ||
FHLMC | 4.50 | 11-1-2048 | 941,077 | 925,536 | ||
FHLMC | 4.50 | 11-1-2048 | 1,620,431 | 1,599,987 | ||
FHLMC Series 2018-3 Class MA ±± | 3.50 | 8-25-2057 | 2,744,137 | 2,598,673 | ||
FHLMC Series 2019-3 Class M55D | 4.00 | 10-25-2058 | 555,273 | 525,976 | ||
FHLMC Structured Pass-Through Securities Series T-20 Class A6 ±± | 7.49 | 9-25-2029 | 5,080 | 4,977 | ||
FHLMC Structured Pass-Through Securities Series T-58 Class 4A | 7.50 | 9-25-2043 | 501,118 | 512,469 | ||
FNMA | 1.47 | 11-1-2029 | 2,020,000 | 1,670,022 | ||
FNMA | 2.00 | 12-1-2051 | 2,130,885 | 1,752,924 | ||
FNMA | 2.27 | 4-1-2029 | 710,000 | 628,052 | ||
FNMA | 2.50 | 8-1-2031 | 137,072 | 127,115 | ||
FNMA | 2.50 | 2-1-2035 | 595,158 | 544,939 | ||
FNMA | 2.50 | 2-1-2035 | 739,284 | 676,285 | ||
FNMA | 2.50 | 12-1-2051 | 2,404,441 | 2,047,085 | ||
FNMA | 2.50 | 1-1-2052 | 3,648,020 | 3,106,313 | ||
FNMA | 2.50 | 1-1-2052 | 4,628,795 | 3,954,135 | ||
FNMA | 2.50 | 1-1-2052 | 4,914,236 | 4,186,629 | ||
FNMA | 3.00 | 12-1-2032 | 19,959 | 18,466 | ||
FNMA | 3.00 | 7-1-2046 | 213,218 | 191,996 | ||
FNMA | 3.00 | 4-1-2047 | 878,000 | 786,518 | ||
FNMA | 3.00 | 12-1-2049 | 1,249,151 | 1,110,228 | ||
FNMA | 3.00 | 12-1-2049 | 1,071,167 | 952,116 | ||
FNMA | 3.07 | 2-1-2026 | 346,473 | 329,297 | ||
FNMA ±± | 3.29 | 11-1-2026 | 1,095,454 | 1,047,919 | ||
FNMA ±± | 3.33 | 12-1-2027 | 775,541 | 737,418 | ||
FNMA | 3.35 | 1-1-2028 | 262,212 | 248,212 | ||
FNMA | 3.50 | 10-1-2032 | 275,416 | 262,625 | ||
FNMA | 3.50 | 11-1-2042 | 121,168 | 113,626 | ||
FNMA | 3.50 | 11-1-2042 | 133,065 | 124,836 | ||
FNMA | 3.50 | 2-1-2043 | 54,237 | 50,883 | ||
FNMA | 3.50 | 11-1-2045 | 572,970 | 533,982 | ||
FNMA | 3.50 | 4-1-2046 | 71,431 | 66,441 | ||
FNMA | 3.50 | 7-1-2046 | 185,949 | 172,768 |
See accompanying notes to portfolio of investments
Allspring Managed Fixed Income Portfolio | 1
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Agency securities (continued) | ||||||
FNMA | 3.50% | 11-1-2046 | $ | 256,737 | $ 238,337 | |
FNMA | 3.50 | 8-1-2047 | 1,262,681 | 1,172,057 | ||
FNMA | 4.00 | 11-1-2040 | 106,643 | 101,488 | ||
FNMA | 4.00 | 4-1-2041 | 152,288 | 144,928 | ||
FNMA | 4.00 | 8-1-2046 | 172,302 | 166,526 | ||
FNMA | 4.00 | 3-1-2049 | 454,725 | 433,818 | ||
FNMA | 4.00 | 8-1-2051 | 6,175,609 | 5,845,455 | ||
FNMA | 4.00 | 7-1-2052 | 752,662 | 712,246 | ||
FNMA | 4.00 | 7-1-2052 | 655,621 | 619,483 | ||
FNMA | 4.00 | 7-1-2056 | 280,454 | 268,941 | ||
FNMA | 4.50 | 8-1-2048 | 676,107 | 662,642 | ||
FNMA | 4.50 | 1-1-2051 | 6,845,308 | 6,718,226 | ||
FNMA | 4.50 | 10-1-2052 | 558,145 | 543,749 | ||
FNMA | 4.50 | 11-1-2052 | 2,422,360 | 2,359,878 | ||
FNMA | 4.50 | 6-1-2056 | 219,981 | 217,776 | ||
FNMA | 4.50 | 6-1-2056 | 204,808 | 203,009 | ||
FNMA | 4.50 | 6-1-2056 | 281,588 | 278,765 | ||
FNMA | 5.00 | 9-1-2033 | 54,836 | 55,253 | ||
FNMA | 5.50 | 2-1-2036 | 23,235 | 22,910 | ||
FNMA | 3.50 | 6-1-2052 | 5,888,032 | 5,416,854 | ||
FNMA | 5.00 | 10-1-2052 | 2,107,759 | 2,091,977 | ||
FNMA | 5.50 | 10-1-2052 | 989,855 | 1,004,049 | ||
FNMA Series 2002-90 Class A2 | 6.50 | 11-25-2042 | 229,052 | 237,037 | ||
FNMA Series 2002-T4 Class A2 | 7.00 | 12-25-2041 | 73,535 | 76,368 | ||
FNMA Series 2002-W4 Class A4 | 6.25 | 5-25-2042 | 692,289 | 701,634 | ||
FNMA Series 2003-W4 Class 3A ±± | 5.03 | 10-25-2042 | 117,469 | 118,765 | ||
FNMA Series 2004-T2 Class 1A1 | 6.00 | 11-25-2043 | 253,578 | 255,137 | ||
FNMA Series 2004-T3 Class A1 | 6.00 | 2-25-2044 | 406,272 | 407,300 | ||
FNMA Series 2004-W01 Class 2A2 | 7.00 | 12-25-2033 | 64,339 | 67,203 | ||
FNMA Series 2004-W11 Class 1A3 | 7.00 | 5-25-2044 | 426,271 | 427,241 | ||
FNMA Series 2004-W8 Class 3A | 7.50 | 6-25-2044 | 82,121 | 84,280 | ||
GNMA | 6.50 | 10-15-2023 | 378 | 387 | ||
GNMA | 6.50 | 11-15-2023 | 452 | 464 | ||
GNMA | 6.50 | 12-15-2023 | 669 | 686 | ||
GNMA | 6.50 | 1-15-2024 | 298 | 306 | ||
GNMA | 7.00 | 8-15-2027 | 16,293 | 16,531 | ||
SBA Series 2023-25A Class 1 | 4.91 | 1-1-2048 | 900,000 | 913,899 | ||
SBA Series 2006-20B Class 1 | 5.35 | 2-1-2026 | 46,234 | 45,357 | ||
SBA Series 2006-20H Class 1 | 5.70 | 8-1-2026 | 27,180 | 26,938 | ||
SBA Series 2007-20J Class 1 | 5.57 | 10-1-2027 | 99,950 | 98,323 | ||
SBA Series 2013-20A Class 1 | 2.13 | 1-1-2033 | 127,672 | 114,577 | ||
SBA Series 2013-20J Class 1 | 3.37 | 10-1-2033 | 121,332 | 112,937 | ||
SBA Series 2014-10A Class 1 | 3.19 | 3-10-2024 | 60,594 | 59,052 | ||
SBA Series 2014-10B Class 1 | 3.02 | 9-10-2024 | 37,710 | 36,470 | ||
SBA Series 2014-20A Class 1 | 3.46 | 1-1-2034 | 129,626 | 121,511 | ||
SBA Series 2015-10B Class 1 | 2.83 | 9-10-2025 | 68,811 | 65,573 | ||
SBA Series 2015-20C Class 1 | 2.72 | 3-1-2035 | 173,491 | 158,877 | ||
SBA Series 2015-20E Class 1 | 2.77 | 5-1-2035 | 273,221 | 253,093 | ||
SBA Series 2015-20F Class 1 | 2.98 | 6-1-2035 | 195,227 | 180,025 | ||
SBA Series 2017-10A Class 1 | 2.85 | 3-10-2027 | 163,155 | 155,489 | ||
SBA Series 2017-20F Class 1 | 2.81 | 6-1-2037 | 151,089 | 137,087 | ||
SBA Series 2018-10B Class 1 | 3.55 | 9-10-2028 | 2,246,438 | 2,106,711 | ||
SBA Series 2018-20E Class 1 | 3.50 | 5-1-2038 | 1,408,100 | 1,312,277 | ||
SBA Series 2018-20G Class 1 | 3.54 | 7-1-2038 | 1,660,757 | 1,552,750 | ||
SBA Series 2018-20H Class 1 | 3.58 | 8-1-2038 | 2,256,034 | 2,110,473 |
See accompanying notes to portfolio of investments
2 | Allspring Managed Fixed Income Portfolio
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Agency securities (continued) | ||||||
SBA Series 2018-20K Class 1 | 3.87% | 11-1-2038 | $ | 1,564,907 | $ 1,483,765 | |
SBA Series 2022-25G Class 1 | 3.93 | 7-1-2047 | 1,890,194 | 1,788,822 | ||
SBA Series 2022-25L Class 1 | 4.71 | 12-1-2047 | 1,475,000 | 1,462,258 | ||
Total Agency securities (Cost $101,654,298) | 92,953,281 | |||||
Asset-backed securities: 1.31% | ||||||
ECMC Group Student Loan Trust Series 2016-1A Class A (1 Month LIBOR +1.35%) 144A± | 5.97 | 7-26-2066 | 255,761 | 252,533 | ||
ECMC Group Student Loan Trust Series 2018-2A Class A (1 Month LIBOR +0.80%) 144A± | 5.42 | 9-25-2068 | 1,815,465 | 1,753,825 | ||
Ford Credit Auto Owner Trust Series 2021-1 Class A 144A | 1.37 | 10-17-2033 | 1,225,000 | 1,086,792 | ||
MMAF Equipment Finance LLC Series 2017-AA Class A5 144A | 2.68 | 7-16-2027 | 79,087 | 78,783 | ||
SLM Student Loan Trust Series 2003-10A Class A4 (3 Month LIBOR +0.67%) 144A± | 5.44 | 12-17-2068 | 1,101,321 | 1,079,022 | ||
South Carolina Student Loan Corporation Series 2014-1 Class B (1 Month LIBOR +1.50%) ± | 6.07 | 8-1-2035 | 500,000 | 491,865 | ||
Total Asset-backed securities (Cost $4,956,256) | 4,742,820 | |||||
Corporate bonds and notes: 38.84% | ||||||
Communication services: 2.35% | ||||||
Diversified telecommunication services: 1.30% | ||||||
AT&T Incorporated | 2.25 | 2-1-2032 | 460,000 | 359,046 | ||
AT&T Incorporated | 2.75 | 6-1-2031 | 535,000 | 441,968 | ||
AT&T Incorporated | 4.75 | 5-15-2046 | 1,280,000 | 1,100,554 | ||
T-Mobile USA Incorporated | 2.40 | 3-15-2029 | 150,000 | 126,776 | ||
T-Mobile USA Incorporated | 3.38 | 4-15-2029 | 875,000 | 772,748 | ||
Verizon Communications Incorporated | 2.10 | 3-22-2028 | 500,000 | 431,552 | ||
Verizon Communications Incorporated | 2.36 | 3-15-2032 | 470,000 | 369,492 | ||
Verizon Communications Incorporated | 4.81 | 3-15-2039 | 1,228,000 | 1,125,505 | ||
4,727,641 | ||||||
Entertainment: 0.17% | ||||||
Take-Two Interactive Software Incorporated | 3.70 | 4-14-2027 | 180,000 | 169,862 | ||
Walt Disney Company | 2.65 | 1-13-2031 | 540,000 | 459,940 | ||
629,802 | ||||||
Media: 0.88% | ||||||
CCO Holdings LLC 144A | 4.50 | 8-15-2030 | 381,000 | 313,380 | ||
CCO Holdings LLC 144A | 5.13 | 5-1-2027 | 925,000 | 855,875 | ||
Charter Communications Operating LLC | 4.40 | 4-1-2033 | 340,000 | 290,810 | ||
Comcast Corporation | 1.95 | 1-15-2031 | 550,000 | 440,816 | ||
Lamar Media Corporation | 4.88 | 1-15-2029 | 550,000 | 507,734 | ||
Magallanes Incorporated 144A | 4.28 | 3-15-2032 | 900,000 | 776,980 | ||
3,185,595 | ||||||
Consumer discretionary: 3.96% | ||||||
Auto components: 0.28% | ||||||
Allison Transmission Incorporated 144A | 4.75 | 10-1-2027 | 1,075,000 | 997,001 | ||
Automobiles: 0.31% | ||||||
General Motors Company | 5.60 | 10-15-2032 | 500,000 | 475,380 |
See accompanying notes to portfolio of investments
Allspring Managed Fixed Income Portfolio | 3
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Automobiles (continued) | ||||||
Volkswagen Group of America Incorporated 144A | 2.85% | 9-26-2024 | $ | 300,000 | $ 287,383 | |
Volkswagen Group of America Incorporated 144A | 4.60 | 6-8-2029 | 370,000 | 354,042 | ||
1,116,805 | ||||||
Diversified consumer services: 2.52% | ||||||
Duke University | 3.20 | 10-1-2038 | 1,000,000 | 831,001 | ||
Johns Hopkins University | 2.81 | 1-1-2060 | 180,000 | 117,399 | ||
Massachusetts Institute of Technology | 3.96 | 7-1-2038 | 500,000 | 459,431 | ||
Massachusetts Institute of Technology | 4.68 | 12-31-2099 | 120,000 | 110,206 | ||
Massachusetts Institute of Technology | 7.25 | 11-2-2096 | 500,000 | 689,371 | ||
Northwestern University | 3.69 | 12-1-2038 | 1,915,000 | 1,676,972 | ||
President and Fellows of Harvard College | 3.62 | 10-1-2037 | 275,000 | 239,115 | ||
President and Fellows of Harvard College | 4.88 | 10-15-2040 | 183,000 | 185,013 | ||
President and Fellows of Harvard College | 5.63 | 10-1-2038 | 525,000 | 571,210 | ||
Princeton University | 5.70 | 3-1-2039 | 1,640,000 | 1,817,829 | ||
Service Corporation International | 4.63 | 12-15-2027 | 450,000 | 419,063 | ||
Service Corporation International | 7.50 | 4-1-2027 | 345,000 | 355,365 | ||
University of Southern California | 3.03 | 10-1-2039 | 1,250,000 | 1,001,215 | ||
Washington University | 4.35 | 4-15-2122 | 850,000 | 692,150 | ||
9,165,340 | ||||||
Hotels, restaurants & leisure: 0.03% | ||||||
Starbucks Corporation | 2.25 | 3-12-2030 | 140,000 | 116,081 | ||
Specialty retail: 0.30% | ||||||
Foot Locker Incorporated 144A | 4.00 | 10-1-2029 | 400,000 | 328,841 | ||
Lowe's Companies Incorporated | 1.70 | 9-15-2028 | 420,000 | 350,714 | ||
Lowe's Companies Incorporated | 3.75 | 4-1-2032 | 170,000 | 150,594 | ||
Lowe's Companies Incorporated | 5.00 | 4-15-2033 | 280,000 | 269,515 | ||
1,099,664 | ||||||
Textiles, apparel & luxury goods: 0.52% | ||||||
HanesBrands Incorporated 144A | 4.88 | 5-15-2026 | 1,250,000 | 1,154,356 | ||
The William Carter Company 144A | 5.63 | 3-15-2027 | 185,000 | 177,814 | ||
Wolverine World Wide Company 144A | 4.00 | 8-15-2029 | 700,000 | 563,808 | ||
1,895,978 | ||||||
Consumer staples: 0.76% | ||||||
Beverages: 0.22% | ||||||
Anheuser-Busch InBev Worldwide Incorporated | 4.70 | 2-1-2036 | 870,000 | 816,607 | ||
Food products: 0.42% | ||||||
7 Eleven Incorporated 144A | 0.95 | 2-10-2026 | 220,000 | 193,831 | ||
Darling Ingredients Incorporated 144A | 5.25 | 4-15-2027 | 600,000 | 577,290 | ||
Ingredion Incorporated | 2.90 | 6-1-2030 | 880,000 | 747,328 | ||
1,518,449 | ||||||
Household products: 0.12% | ||||||
Central Garden & Pet Company | 5.13 | 2-1-2028 | 460,000 | 428,375 | ||
Energy: 4.63% | ||||||
Energy equipment & services: 0.20% | ||||||
Halliburton Company | 2.92 | 3-1-2030 | 820,000 | 708,761 |
See accompanying notes to portfolio of investments
4 | Allspring Managed Fixed Income Portfolio
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Oil, gas & consumable fuels: 4.43% | ||||||
Antero Resources Corporation 144A | 5.38% | 3-1-2030 | $ | 465,000 | $ 423,384 | |
Apache Corporation | 4.38 | 10-15-2028 | 100,000 | 90,986 | ||
BP Capital Markets plc | 2.72 | 1-12-2032 | 930,000 | 779,287 | ||
Buckeye Partners LP | 3.95 | 12-1-2026 | 247,000 | 218,401 | ||
Cheniere Energy Partners LP | 4.50 | 10-1-2029 | 875,000 | 794,071 | ||
Coterra Energy Incorporated | 3.90 | 5-15-2027 | 500,000 | 468,604 | ||
Enable Midstream Partners | 4.95 | 5-15-2028 | 790,000 | 760,801 | ||
EnLink Midstream Partners LP | 4.85 | 7-15-2026 | 430,000 | 407,576 | ||
Enterprise Products Operating LLC | 4.15 | 10-16-2028 | 420,000 | 397,111 | ||
Enterprise Products Operating LLC | 5.35 | 1-31-2033 | 540,000 | 539,665 | ||
Florida Gas Transmission Company 144A | 4.35 | 7-15-2025 | 1,521,000 | 1,468,155 | ||
Gray Oak Pipeline LLC 144A | 2.60 | 10-15-2025 | 860,000 | 778,199 | ||
Gulfstream Natural Gas System LLC 144A | 6.19 | 11-1-2025 | 210,000 | 209,040 | ||
HF Sinclair Corporation | 4.50 | 10-1-2030 | 910,000 | 809,103 | ||
Magellan Midstream Partners LP | 5.00 | 3-1-2026 | 170,000 | 167,755 | ||
Marathon Petroleum Corporation | 5.13 | 12-15-2026 | 800,000 | 794,845 | ||
MPLX LP | 4.13 | 3-1-2027 | 1,500,000 | 1,431,011 | ||
NuStar Logistics LP | 6.00 | 6-1-2026 | 600,000 | 570,053 | ||
Plains All American Pipeline LP | 4.70 | 6-15-2044 | 600,000 | 460,887 | ||
Plains All American Pipeline LP | 4.90 | 2-15-2045 | 80,000 | 62,975 | ||
Range Resources Corporation | 4.88 | 5-15-2025 | 625,000 | 609,748 | ||
Sabine Pass Liquefaction LLC | 4.50 | 5-15-2030 | 300,000 | 281,023 | ||
Southwestern Energy Company | 5.38 | 3-15-2030 | 320,000 | 292,314 | ||
Transcontinental Gas Pipe Line Company LLC | 3.25 | 5-15-2030 | 790,000 | 687,797 | ||
Transcontinental Gas Pipe Line Company LLC | 7.85 | 2-1-2026 | 1,200,000 | 1,272,185 | ||
Western Midstream Operating LP | 4.30 | 2-1-2030 | 1,100,000 | 974,537 | ||
Williams Company %% | 5.65 | 3-15-2033 | 130,000 | 129,873 | ||
Williams Partners LP | 4.65 | 8-15-2032 | 220,000 | 204,982 | ||
16,084,368 | ||||||
Financials: 8.46% | ||||||
Banks: 4.61% | ||||||
Bank of America Corporation (U.S. SOFR +0.96%) ± | 1.73 | 7-22-2027 | 1,400,000 | 1,233,094 | ||
Bank of America Corporation (U.S. SOFR +1.37%) ± | 1.92 | 10-24-2031 | 540,000 | 418,558 | ||
Bank of America Corporation (3 Month LIBOR +1.51%) ± | 3.71 | 4-24-2028 | 1,440,000 | 1,339,538 | ||
Bank of America Corporation (U.S. SOFR +2.16%) ± | 5.02 | 7-22-2033 | 200,000 | 192,421 | ||
Bank of America Corporation (U.S. SOFR +1.21%) ± | 2.57 | 10-20-2032 | 170,000 | 135,353 | ||
Citigroup Incorporated (U.S. SOFR +0.77%) ± | 1.12 | 1-28-2027 | 330,000 | 289,958 | ||
Citigroup Incorporated (U.S. SOFR +1.18%) ± | 2.52 | 11-3-2032 | 450,000 | 355,091 | ||
Citigroup Incorporated (U.S. SOFR +2.11%) ± | 2.57 | 6-3-2031 | 370,000 | 303,519 | ||
Citigroup Incorporated (U.S. SOFR +1.35%) ± | 3.06 | 1-25-2033 | 240,000 | 197,044 | ||
Citigroup Incorporated (U.S. SOFR +1.28%) ± | 3.07 | 2-24-2028 | 340,000 | 308,564 | ||
Citigroup Incorporated (U.S. SOFR 3 Month +1.65%) ± | 3.67 | 7-24-2028 | 900,000 | 833,742 | ||
Citigroup Incorporated (U.S. SOFR +2.09%) ± | 4.91 | 5-24-2033 | 160,000 | 151,629 | ||
Fifth Third Bancorp (U.S. SOFR +1.66%) ± | 4.34 | 4-25-2033 | 260,000 | 240,493 | ||
Fifth Third Bancorp (U.S. SOFR +2.13%) ± | 4.77 | 7-28-2030 | 490,000 | 469,732 | ||
Fifth Third Bancorp (U.S. SOFR +2.19%) ± | 6.36 | 10-27-2028 | 180,000 | 185,411 | ||
Huntington Bancshares Incorporated (U.S. SOFR +2.05%) ± | 5.02 | 5-17-2033 | 210,000 | 201,144 | ||
Huntington Bank | 5.65 | 1-10-2030 | 250,000 | 252,220 | ||
JPMorgan Chase & Company (U.S. SOFR +0.77%) ± | 1.47 | 9-22-2027 | 660,000 | 572,168 | ||
JPMorgan Chase & Company (U.S. SOFR +1.89%) ± | 2.18 | 6-1-2028 | 310,000 | 271,208 | ||
JPMorgan Chase & Company (U.S. SOFR +1.25%) ± | 2.58 | 4-22-2032 | 110,000 | 89,135 | ||
JPMorgan Chase & Company (U.S. SOFR +1.26%) ± | 2.96 | 1-25-2033 | 390,000 | 321,337 | ||
JPMorgan Chase & Company (3 Month LIBOR +1.34%) ± | 3.78 | 2-1-2028 | 1,100,000 | 1,033,453 |
See accompanying notes to portfolio of investments
Allspring Managed Fixed Income Portfolio | 5
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Banks (continued) | ||||||
JPMorgan Chase & Company (3 Month LIBOR +1.26%) ± | 4.20% | 7-23-2029 | $ | 600,000 | $ 562,482 | |
JPMorgan Chase & Company (U.S. SOFR +1.56%) ± | 4.32 | 4-26-2028 | 260,000 | 249,258 | ||
JPMorgan Chase & Company (3 Month LIBOR +1.33%) ± | 4.45 | 12-5-2029 | 470,000 | 445,385 | ||
Key Bank NA | 3.90 | 4-13-2029 | 420,000 | 378,033 | ||
KeyCorp | 2.25 | 4-6-2027 | 690,000 | 614,324 | ||
KeyCorp (U.S. SOFR +2.06%) ± | 4.79 | 6-1-2033 | 410,000 | 384,255 | ||
PNC Bank | 4.05 | 7-26-2028 | 1,000,000 | 943,659 | ||
PNC Bank (U.S. SOFR +2.14%) ± | 6.04 | 10-28-2033 | 260,000 | 270,202 | ||
Regions Financial Corporation | 1.80 | 8-12-2028 | 540,000 | 452,693 | ||
Truist Financial Corporation (U.S. SOFR +1.37%) ± | 4.12 | 6-6-2028 | 200,000 | 191,239 | ||
Truist Financial Corporation (3 Month LIBOR +0.98%) ± | 5.73 | 4-1-2027 | 400,000 | 378,455 | ||
Truist Financial Corporation (U.S. SOFR +2.30%) ± | 6.12 | 10-28-2033 | 180,000 | 188,687 | ||
US Bancorp (U.S. SOFR +1.66%) ± | 4.55 | 7-22-2028 | 320,000 | 311,167 | ||
US Bancorp (U.S. SOFR +2.09%) ± | 5.85 | 10-21-2033 | 160,000 | 164,943 | ||
Wells Fargo & Company (U.S. SOFR +1.50%) ± | 3.35 | 3-2-2033 | 680,000 | 574,942 | ||
Wells Fargo & Company (U.S. SOFR +1.51%) ± | 3.53 | 3-24-2028 | 720,000 | 666,719 | ||
Wells Fargo & Company (U.S. SOFR +2.10%) ± | 4.90 | 7-25-2033 | 590,000 | 563,531 | ||
16,734,786 | ||||||
Capital markets: 1.87% | ||||||
Bank of New York Mellon Corporation (U.S. SOFR +1.42%) ± | 4.29 | 6-13-2033 | 260,000 | 241,810 | ||
Bank of New York Mellon Corporation (U.S. SOFR +1.76%) ± | 4.60 | 7-26-2030 | 360,000 | 347,196 | ||
Bank of New York Mellon Corporation (U.S. SOFR +1.80%) ± | 5.80 | 10-25-2028 | 270,000 | 276,588 | ||
Charles Schwab Corporation | 2.90 | 3-3-2032 | 550,000 | 465,178 | ||
Goldman Sachs Group Incorporated (U.S. SOFR +0.91%) ± | 1.95 | 10-21-2027 | 210,000 | 183,949 | ||
Goldman Sachs Group Incorporated (U.S. SOFR +1.11%) ± | 2.64 | 2-24-2028 | 390,000 | 348,502 | ||
Goldman Sachs Group Incorporated (U.S. SOFR +1.85%) ± | 3.62 | 3-15-2028 | 1,720,000 | 1,596,256 | ||
Goldman Sachs Group Incorporated (3 Month LIBOR +1.30%) ± | 4.22 | 5-1-2029 | 570,000 | 533,621 | ||
Morgan Stanley (U.S. SOFR +1.00%) ± | 2.48 | 1-21-2028 | 740,000 | 659,964 | ||
Morgan Stanley (U.S. SOFR +2.08%) ± | 4.89 | 7-20-2033 | 360,000 | 341,825 | ||
Morgan Stanley (U.S. SOFR +0.86%) ± | 1.51 | 7-20-2027 | 300,000 | 261,876 | ||
MSCI Incorporated 144A | 4.00 | 11-15-2029 | 515,000 | 455,827 | ||
State Street Corporation (U.S. SOFR +1.00%) ± | 2.62 | 2-7-2033 | 770,000 | 632,513 | ||
State Street Corporation (U.S. SOFR +1.73%) ± | 4.16 | 8-4-2033 | 400,000 | 367,054 | ||
State Street Corporation (U.S. SOFR +1.61%) ± | 4.42 | 5-13-2033 | 90,000 | 85,122 | ||
6,797,281 | ||||||
Consumer finance: 1.24% | ||||||
American Express Company | 4.05 | 5-3-2029 | 240,000 | 227,415 | ||
American Express Company (U.S. SOFR +1.76%) ± | 4.42 | 8-3-2033 | 630,000 | 589,332 | ||
American Honda Finance Corporation | 2.25 | 1-12-2029 | 440,000 | 377,381 | ||
Capital One Financial Company (U.S. SOFR +1.79%) ± | 3.27 | 3-1-2030 | 450,000 | 387,985 | ||
Capital One Financial Company (U.S. SOFR +2.37%) ± | 5.27 | 5-10-2033 | 290,000 | 274,657 | ||
CRH America Finance Incorporated 144A | 3.95 | 4-4-2028 | 210,000 | 197,718 | ||
Daimler Finance North America LLC 144A | 2.00 | 12-14-2026 | 270,000 | 238,895 | ||
Daimler Finance North America LLC 144A | 2.38 | 12-14-2028 | 450,000 | 381,323 | ||
Ford Motor Credit Company LLC | 4.95 | 5-28-2027 | 1,200,000 | 1,118,028 | ||
General Motors Financial Company | 2.40 | 10-15-2028 | 380,000 | 318,069 | ||
General Motors Financial Company | 4.30 | 4-6-2029 | 180,000 | 164,172 | ||
John Deere Capital Corporation | 4.85 | 10-11-2029 | 240,000 | 240,021 | ||
4,514,996 |
See accompanying notes to portfolio of investments
6 | Allspring Managed Fixed Income Portfolio
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Insurance: 0.70% | ||||||
AON Corporation | 2.85% | 5-28-2027 | $ | 180,000 | $ 163,612 | |
Guardian Life Global Funding 144A | 5.55 | 10-28-2027 | 580,000 | 592,221 | ||
Marsh & McLennan Incorporated | 2.38 | 12-15-2031 | 510,000 | 408,939 | ||
New York Life Global Funding 144A | 4.85 | 1-9-2028 | 420,000 | 417,809 | ||
NLV Financial Corporation 144A | 7.50 | 8-15-2033 | 565,000 | 607,858 | ||
Northwestern Mutual Life 144A | 3.45 | 3-30-2051 | 470,000 | 340,297 | ||
2,530,736 | ||||||
Mortgage REITs: 0.04% | ||||||
Ventas Realty LP | 3.50 | 2-1-2025 | 150,000 | 144,022 | ||
Health care: 3.37% | ||||||
Biotechnology: 0.31% | ||||||
AbbVie Incorporated | 4.55 | 3-15-2035 | 1,200,000 | 1,116,006 | ||
Health care equipment & supplies: 0.99% | ||||||
Baxter International Incorporated | 1.92 | 2-1-2027 | 260,000 | 226,724 | ||
Baxter International Incorporated | 2.27 | 12-1-2028 | 1,130,000 | 946,484 | ||
Becton Dickinson & Company | 4.30 | 8-22-2032 | 260,000 | 241,567 | ||
GE Healthcare USA Holding LLC 144A | 5.86 | 3-15-2030 | 380,000 | 388,507 | ||
GE Healthcare USA Holding LLC 144A | 5.91 | 11-22-2032 | 240,000 | 248,077 | ||
Hologic Incorporated 144A | 3.25 | 2-15-2029 | 505,000 | 435,462 | ||
Hologic Incorporated 144A | 4.63 | 2-1-2028 | 575,000 | 536,185 | ||
Teleflex Incorporated 144A | 4.25 | 6-1-2028 | 500,000 | 451,296 | ||
Teleflex Incorporated | 4.63 | 11-15-2027 | 150,000 | 141,480 | ||
3,615,782 | ||||||
Health care providers & services: 1.14% | ||||||
Advocate Health Corporation | 4.27 | 8-15-2048 | 110,000 | 96,579 | ||
BayCare Health System Incorporated | 3.83 | 11-15-2050 | 145,000 | 117,762 | ||
Cleveland Clinic Foundation | 4.86 | 1-1-2114 | 347,000 | 312,325 | ||
CVS Health Corporation | 1.75 | 8-21-2030 | 200,000 | 156,081 | ||
CVS Health Corporation | 4.30 | 3-25-2028 | 285,000 | 272,461 | ||
CVS Health Corporation | 5.05 | 3-25-2048 | 130,000 | 116,675 | ||
Inova Health System | 4.07 | 5-15-2052 | 355,000 | 298,932 | ||
Kaiser Foundation Hospitals | 3.27 | 11-1-2049 | 160,000 | 118,976 | ||
Memorial Sloan Kettering Cancer Center | 4.20 | 7-1-2055 | 185,000 | 158,146 | ||
Nationwide Children Hospital | 4.56 | 11-1-2052 | 295,000 | 273,508 | ||
Northwestern Memorial Hospital | 2.63 | 7-15-2051 | 355,000 | 230,089 | ||
NYU Hospitals Center | 3.38 | 7-1-2055 | 550,000 | 390,999 | ||
OhioHealth Corporation | 2.83 | 11-15-2041 | 150,000 | 110,140 | ||
OhioHealth Corporation | 3.04 | 11-15-2050 | 100,000 | 72,647 | ||
Pediatrix Medical Group 144A« | 5.38 | 2-15-2030 | 550,000 | 485,201 | ||
Presbyterian Healthcare Services | 4.88 | 8-1-2052 | 600,000 | 576,467 | ||
UnitedHealth Group Incorporated | 4.00 | 5-15-2029 | 180,000 | 170,660 | ||
WakeMed Health & Hospitals | 3.29 | 10-1-2052 | 280,000 | 197,556 | ||
4,155,204 | ||||||
Health care technology: 0.12% | ||||||
IQVIA Incorporated 144A | 5.00 | 10-15-2026 | 445,000 | 424,975 | ||
Life sciences tools & services: 0.44% | ||||||
Agilent Technologies Incorporated | 2.75 | 9-15-2029 | 600,000 | 517,830 |
See accompanying notes to portfolio of investments
Allspring Managed Fixed Income Portfolio | 7
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Life sciences tools & services (continued) | ||||||
Charles River Laboratories Incorporated 144A | 4.25% | 5-1-2028 | $ | 745,000 | $ 672,146 | |
Perkinelmer Incorporated | 1.90 | 9-15-2028 | 490,000 | 407,719 | ||
1,597,695 | ||||||
Pharmaceuticals: 0.37% | ||||||
Bayer US Finance LLC 144A | 3.38 | 10-8-2024 | 240,000 | 231,671 | ||
Bayer US Finance LLC 144A | 4.38 | 12-15-2028 | 1,170,000 | 1,099,930 | ||
1,331,601 | ||||||
Industrials: 3.59% | ||||||
Aerospace & defense: 0.75% | ||||||
Hexcel Corporation | 4.20 | 2-15-2027 | 602,000 | 567,820 | ||
Moog Incorporated 144A | 4.25 | 12-15-2027 | 700,000 | 640,506 | ||
Raytheon Technologies Corporation | 2.25 | 7-1-2030 | 360,000 | 298,170 | ||
Raytheon Technologies Corporation | 2.38 | 3-15-2032 | 250,000 | 201,500 | ||
The Boeing Company | 2.70 | 2-1-2027 | 840,000 | 760,878 | ||
The Boeing Company | 5.15 | 5-1-2030 | 155,000 | 149,988 | ||
The Boeing Company | 5.71 | 5-1-2040 | 110,000 | 104,722 | ||
2,723,584 | ||||||
Air freight & logistics: 0.24% | ||||||
Fedex Corporation | 3.90 | 2-1-2035 | 280,000 | 239,444 | ||
Fedex Corporation | 4.25 | 5-15-2030 | 660,000 | 619,087 | ||
858,531 | ||||||
Building products: 0.54% | ||||||
Allegion U.S. Holding Company | 5.41 | 7-1-2032 | 500,000 | 488,696 | ||
Fortune Brands Home | 3.25 | 9-15-2029 | 460,000 | 391,933 | ||
Lennox International Incorporated | 1.70 | 8-1-2027 | 530,000 | 451,812 | ||
Masco Corporation | 6.50 | 8-15-2032 | 150,000 | 152,092 | ||
Masonite International Company 144A | 5.38 | 2-1-2028 | 510,000 | 478,355 | ||
1,962,888 | ||||||
Chemicals: 0.31% | ||||||
Axalta Coating Systems LLC 144A« | 4.75 | 6-15-2027 | 670,000 | 618,000 | ||
GrafTech International Incorporated 144A | 4.63 | 12-15-2028 | 640,000 | 522,573 | ||
1,140,573 | ||||||
Commercial services & supplies: 0.37% | ||||||
Clean Harbors Incorporated 144A | 4.88 | 7-15-2027 | 325,000 | 306,947 | ||
Clean Harbors Incorporated 144A | 6.38 | 2-1-2031 | 180,000 | 178,719 | ||
Stericycle Incorporated 144A | 3.88 | 1-15-2029 | 1,010,000 | 865,829 | ||
1,351,495 | ||||||
Electrical equipment: 0.24% | ||||||
Carrier Global Corporation | 2.49 | 2-15-2027 | 780,000 | 703,023 | ||
Eaton Corporation plc | 4.15 | 3-15-2033 | 200,000 | 184,269 | ||
887,292 | ||||||
Industrial conglomerates: 0.11% | ||||||
Roper Technologies Incorporated | 2.95 | 9-15-2029 | 470,000 | 408,608 |
See accompanying notes to portfolio of investments
8 | Allspring Managed Fixed Income Portfolio
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Machinery: 0.56% | ||||||
Mueller Water Products Incorporated 144A | 4.00% | 6-15-2029 | $ | 700,000 | $ 610,803 | |
Oshkosh Corporation | 3.10 | 3-1-2030 | 490,000 | 421,986 | ||
Oshkosh Corporation | 4.60 | 5-15-2028 | 200,000 | 192,668 | ||
Parker Hannifin Corporation | 4.50 | 9-15-2029 | 490,000 | 467,892 | ||
Stanley Black & Decker Incorporated | 3.00 | 5-15-2032 | 180,000 | 146,675 | ||
Stanley Black & Decker Incorporated | 4.25 | 11-15-2028 | 190,000 | 179,239 | ||
2,019,263 | ||||||
Professional services: 0.16% | ||||||
Equifax Incorporated | 2.35 | 9-15-2031 | 180,000 | 141,868 | ||
Equifax Incorporated | 5.10 | 12-15-2027 | 140,000 | 138,560 | ||
Relx Capital Incorporated | 3.00 | 5-22-2030 | 70,000 | 60,301 | ||
Relx Capital Incorporated | 4.00 | 3-18-2029 | 240,000 | 222,196 | ||
562,925 | ||||||
Road & rail: 0.31% | ||||||
Burlington North Santa Fe Company | 4.45 | 1-15-2053 | 210,000 | 186,813 | ||
Norfolk Southern Corporation | 5.10 | 12-31-2049 | 760,000 | 649,257 | ||
Ryder System Incorporated | 2.85 | 3-1-2027 | 300,000 | 272,389 | ||
1,108,459 | ||||||
Information technology: 1.80% | ||||||
Electronic equipment, instruments & components: 0.34% | ||||||
Amphenol Corporation | 2.20 | 9-15-2031 | 480,000 | 382,000 | ||
Jabil Incorporated | 3.95 | 1-12-2028 | 900,000 | 834,738 | ||
1,216,738 | ||||||
IT services: 0.26% | ||||||
Fidelity National Information Services Incorporated | 4.70 | 7-15-2027 | 185,000 | 179,965 | ||
Fiserv Incorporated %% | 5.45 | 3-2-2028 | 110,000 | 109,847 | ||
Gartner Incorporated 144A | 4.50 | 7-1-2028 | 390,000 | 358,030 | ||
Verisign Incorporated | 4.75 | 7-15-2027 | 300,000 | 290,866 | ||
938,708 | ||||||
Semiconductors & semiconductor equipment: 0.42% | ||||||
Intel Corporation | 4.00 | 8-5-2029 | 770,000 | 719,608 | ||
Microchip Technology Incorporated | 4.25 | 9-1-2025 | 375,000 | 363,139 | ||
Micron Technology Incorporated | 6.75 | 11-1-2029 | 285,000 | 294,509 | ||
ON Semiconductor Corporation 144A | 3.88 | 9-1-2028 | 175,000 | 153,797 | ||
1,531,053 | ||||||
Software: 0.38% | ||||||
Fair Isaac Corporation 144A | 4.00 | 6-15-2028 | 430,000 | 390,509 | ||
Oracle Corporation | 2.30 | 3-25-2028 | 970,000 | 841,784 | ||
Oracle Corporation | 6.15 | 11-9-2029 | 160,000 | 165,556 | ||
1,397,849 | ||||||
Technology hardware, storage & peripherals: 0.40% | ||||||
HP Incorporated | 1.45 | 6-17-2026 | 350,000 | 307,268 | ||
HP Incorporated | 4.00 | 4-15-2029 | 270,000 | 245,397 |
See accompanying notes to portfolio of investments
Allspring Managed Fixed Income Portfolio | 9
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Technology hardware, storage & peripherals (continued) | ||||||
HP Incorporated | 4.90% | 10-15-2025 | $ | 375,000 | $ 371,859 | |
TSMC Arizona Corporation | 1.75 | 10-25-2026 | 600,000 | 531,492 | ||
1,456,016 | ||||||
Materials: 3.76% | ||||||
Chemicals: 2.11% | ||||||
Albemarle Corporation | 5.05 | 6-1-2032 | 190,000 | 180,596 | ||
Ashland LLC 144A | 3.38 | 9-1-2031 | 875,000 | 696,868 | ||
Celanese US Holding LLC | 6.17 | 7-15-2027 | 840,000 | 833,774 | ||
DuPont de Nemours Incorporated | 4.73 | 11-15-2028 | 930,000 | 914,856 | ||
FMC Corporation | 3.20 | 10-1-2026 | 1,120,000 | 1,045,713 | ||
Ingevity Corporation 144A | 3.88 | 11-1-2028 | 200,000 | 170,015 | ||
Mosaic Company | 4.05 | 11-15-2027 | 1,090,000 | 1,031,773 | ||
PPG Industries Incorporated | 2.55 | 6-15-2030 | 770,000 | 645,453 | ||
RPM International Incorporated | 4.55 | 3-1-2029 | 420,000 | 388,629 | ||
Scotts Miracle-Gro Company « | 4.50 | 10-15-2029 | 120,000 | 103,980 | ||
Scotts Miracle-Gro Company | 5.25 | 12-15-2026 | 800,000 | 765,941 | ||
The Sherwin-Williams Company | 2.95 | 8-15-2029 | 450,000 | 390,063 | ||
The Sherwin-Williams Company | 3.30 | 2-1-2025 | 100,000 | 96,089 | ||
Valvoline Incorporated 144A | 4.25 | 2-15-2030 | 420,000 | 410,460 | ||
7,674,210 | ||||||
Construction materials: 0.06% | ||||||
Martin Marietta Materials Incorporated | 2.50 | 3-15-2030 | 280,000 | 231,523 | ||
Containers & packaging: 0.97% | ||||||
Ball Corporation | 3.13 | 9-15-2031 | 550,000 | 440,462 | ||
Graphic Packaging International Company 144A | 3.50 | 3-15-2028 | 275,000 | 240,603 | ||
Graphic Packaging International Company 144A | 3.50 | 3-1-2029 | 420,000 | 360,888 | ||
Graphic Packaging International Company | 4.13 | 8-15-2024 | 68,000 | 66,477 | ||
Packaging Corporation of America | 3.00 | 12-15-2029 | 480,000 | 412,729 | ||
Sealed Air Corporation 144A | 5.50 | 9-15-2025 | 62,000 | 61,004 | ||
Sealed Air Corporation 144A | 6.13 | 2-1-2028 | 400,000 | 393,980 | ||
Silgan Holdings Incorporated | 4.13 | 2-1-2028 | 400,000 | 366,000 | ||
Westrock Company | 3.00 | 9-15-2024 | 680,000 | 650,133 | ||
WRKCO Incorporated | 3.90 | 6-1-2028 | 560,000 | 518,569 | ||
3,510,845 | ||||||
Metals & mining: 0.43% | ||||||
Freeport-McMoRan Incorporated | 4.13 | 3-1-2028 | 840,000 | 779,024 | ||
Newmont Mining Corporation | 2.60 | 7-15-2032 | 725,000 | 577,964 | ||
NuCor Corporation | 4.30 | 5-23-2027 | 210,000 | 203,510 | ||
1,560,498 | ||||||
Paper & forest products: 0.19% | ||||||
Clearwater Paper Corporation 144A | 4.75 | 8-15-2028 | 775,000 | 677,698 | ||
Real estate: 1.65% | ||||||
Equity REITs: 1.55% | ||||||
Alexandria Real Estate Equities Incorporated | 3.95 | 1-15-2027 | 240,000 | 229,203 | ||
Alexandria Real Estate Equities Incorporated | 3.95 | 1-15-2028 | 380,000 | 357,784 | ||
Boston Properties LP | 2.75 | 10-1-2026 | 780,000 | 703,971 | ||
CubeSmart LP | 2.25 | 12-15-2028 | 160,000 | 133,678 |
See accompanying notes to portfolio of investments
10 | Allspring Managed Fixed Income Portfolio
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Equity REITs (continued) | ||||||
Digital Realty Trust LP | 4.45% | 7-15-2028 | $ | 510,000 | $ 480,540 | |
HCP Incorporated | 3.50 | 7-15-2029 | 560,000 | 498,818 | ||
Healthpeak Properties Incorporated | 2.13 | 12-1-2028 | 40,000 | 33,822 | ||
Healthpeak Properties Incorporated | 2.88 | 1-15-2031 | 190,000 | 160,166 | ||
Host Hotels & Resorts Incorporated | 3.88 | 4-1-2024 | 265,000 | 258,947 | ||
Kimco Realty Corporation | 4.60 | 2-1-2033 | 130,000 | 119,477 | ||
Mid-America Apartments LP | 4.20 | 6-15-2028 | 160,000 | 152,289 | ||
National Retail Properties Incorporated | 4.30 | 10-15-2028 | 370,000 | 345,501 | ||
UDR Incorporated | 3.20 | 1-15-2030 | 350,000 | 306,717 | ||
Ventas Realty LP | 3.85 | 4-1-2027 | 1,500,000 | 1,419,319 | ||
Welltower Incorporated | 2.05 | 1-15-2029 | 190,000 | 155,521 | ||
Welltower Incorporated | 2.75 | 1-15-2032 | 320,000 | 255,556 | ||
5,611,309 | ||||||
Real estate management & development: 0.10% | ||||||
Extra Space Storage LP | 3.90 | 4-1-2029 | 400,000 | 362,750 | ||
Utilities: 4.51% | ||||||
Electric utilities: 3.28% | ||||||
AES Indiana 144A | 5.65 | 12-1-2032 | 360,000 | 369,666 | ||
American Transmission System Incorporated 144A | 2.65 | 1-15-2032 | 380,000 | 311,393 | ||
Commonwealth Edison Company | 3.85 | 3-15-2052 | 450,000 | 355,241 | ||
Connecticut Light +Pwr | 5.25 | 1-15-2053 | 130,000 | 129,944 | ||
Dominion Energy South Carolina Incorporated | 2.30 | 12-1-2031 | 450,000 | 362,468 | ||
Duke Energy Carolinas LLC | 3.55 | 3-15-2052 | 230,000 | 171,451 | ||
Duke Energy Carolinas LLC | 6.05 | 4-15-2038 | 830,000 | 883,282 | ||
Duke Energy Progress LLC | 2.00 | 8-15-2031 | 620,000 | 488,257 | ||
Entergy Arkansas LLC | 5.15 | 1-15-2033 | 450,000 | 447,665 | ||
Evergy Metro Incorporated | 2.25 | 6-1-2030 | 350,000 | 287,672 | ||
Evergy Missouri West Incorporated 144A | 3.75 | 3-15-2032 | 330,000 | 288,573 | ||
Florida Power + Light Co %% | 5.30 | 4-1-2053 | 400,000 | 397,840 | ||
ITC Holdings Corporation | 3.65 | 6-15-2024 | 120,000 | 116,858 | ||
MidAmerican Energy Holdings Company | 5.80 | 10-15-2036 | 900,000 | 948,802 | ||
NextEra Energy Operating Partners LP | 1.88 | 1-15-2027 | 1,060,000 | 933,933 | ||
NextEra Energy Operating Partners LP 144A | 4.25 | 9-15-2024 | 6,000 | 5,595 | ||
NextEra Energy Operating Partners LP 144A | 4.50 | 9-15-2027 | 275,000 | 252,313 | ||
Northern States Power Company of Minnesota | 4.50 | 6-1-2052 | 210,000 | 189,612 | ||
Northern States Power Company of Minnesota | 5.35 | 11-1-2039 | 1,580,000 | 1,589,695 | ||
PPL Electric Utilities %% | 5.25 | 5-15-2053 | 440,000 | 433,741 | ||
Public Service Electric & Gas Company | 5.70 | 12-1-2036 | 590,000 | 595,367 | ||
Rochester Gas & Electric Corporation 144A | 3.10 | 6-1-2027 | 1,000,000 | 918,848 | ||
Southern California Edison Company | 6.00 | 1-15-2034 | 188,000 | 196,830 | ||
Trans-Allegheny Interstate Line Company 144A | 3.85 | 6-1-2025 | 200,000 | 191,850 | ||
Tuscon Electric Power Company | 3.25 | 5-15-2032 | 420,000 | 358,197 | ||
Union Electric Co %% | 5.45 | 3-15-2053 | 330,000 | 329,961 | ||
Wisconsin Light & Power Company | 3.95 | 9-1-2032 | 370,000 | 337,156 | ||
11,892,210 | ||||||
Gas utilities: 0.46% | ||||||
AmeriGas Partners LP | 5.50 | 5-20-2025 | 450,000 | 427,750 | ||
AmeriGas Partners LP | 5.88 | 8-20-2026 | 500,000 | 471,203 | ||
Boardwalk Pipelines Company | 3.60 | 9-1-2032 | 625,000 | 524,661 | ||
CenterPoint Energy Incorporated | 1.75 | 10-1-2030 | 330,000 | 259,532 | ||
1,683,146 |
See accompanying notes to portfolio of investments
Allspring Managed Fixed Income Portfolio | 11
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Multi-utilities: 0.77% | ||||||
Black Hills Corporation | 4.35% | 5-1-2033 | $ | 710,000 | $ 632,645 | |
DTE Electric Company %% | 5.40 | 4-1-2053 | 400,000 | 403,299 | ||
San Diego Gas & Electric Company | 3.00 | 3-15-2032 | 490,000 | 415,094 | ||
Sempra Infrastructure 144A | 3.25 | 1-15-2032 | 825,000 | 670,377 | ||
WEC Energy Group Incorporated | 2.20 | 12-15-2028 | 790,000 | 670,313 | ||
2,791,728 | ||||||
Total Corporate bonds and notes (Cost $156,913,930) | 141,013,450 | |||||
Municipal obligations: 8.44% | ||||||
Alabama: 0.23% | ||||||
Miscellaneous revenue: 0.23% | ||||||
Alabama Federal Aid Highway Finance Authority Special Obligation Revenue Taxable Series B | 1.86 | 9-1-2029 | 1,000,000 | 840,368 | ||
Arizona: 0.10% | ||||||
Miscellaneous revenue: 0.10% | ||||||
Yuma AZ Pledged Revenue Obligations Series 2021 | 2.10 | 7-15-2030 | 430,000 | 344,185 | ||
California: 1.08% | ||||||
GO revenue: 0.97% | ||||||
Alameda County CA Series A | 3.70 | 8-1-2031 | 275,000 | 252,093 | ||
Campbell Union High School District | 2.31 | 8-1-2035 | 660,000 | 496,643 | ||
Desert Community College District | 2.78 | 8-1-2035 | 450,000 | 361,579 | ||
Oxnard Union High School District | 1.87 | 8-1-2030 | 800,000 | 643,060 | ||
Palomar Community College District | 2.32 | 8-1-2034 | 500,000 | 392,348 | ||
San Ramon Valley Unified School District | 1.91 | 8-1-2030 | 740,000 | 610,518 | ||
Solano California Community College District Series B | 1.76 | 8-1-2030 | 950,000 | 766,443 | ||
3,522,684 | ||||||
Tax revenue: 0.11% | ||||||
San Jose CA RDA Senior Taxable Refunding Bonds Series A-T | 3.38 | 8-1-2034 | 455,000 | 403,537 | ||
Florida: 0.24% | ||||||
Water & sewer revenue: 0.24% | ||||||
Florida Water Pollution Control Financing Corporation Series A | 2.60 | 1-15-2030 | 1,000,000 | 879,858 | ||
Georgia: 0.32% | ||||||
GO revenue: 0.14% | ||||||
Cherokee County GA School System Build America Bonds | 5.87 | 8-1-2028 | 500,000 | 512,663 | ||
Tax revenue: 0.18% | ||||||
Metro Atlanta Rapid Transit Authority Sales Tax Refunding Bond Series 2021D | 2.64 | 7-1-2035 | 815,000 | 653,669 | ||
Hawaii: 0.40% | ||||||
GO revenue: 0.40% | ||||||
Hawaii Taxable Series FZ | 1.60 | 8-1-2031 | 770,000 | 601,091 | ||
Hawaii Taxable Series GD | 2.52 | 10-1-2035 | 1,110,000 | 865,546 | ||
1,466,637 |
See accompanying notes to portfolio of investments
12 | Allspring Managed Fixed Income Portfolio
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Idaho: 0.04% | ||||||
Miscellaneous revenue: 0.04% | ||||||
Idaho Building Authority State Office Campus Project Series B | 3.28% | 9-1-2028 | $ | 170,000 | $ 160,606 | |
Indiana: 0.46% | ||||||
Education revenue: 0.11% | ||||||
University of Notre Dame Taxable Bond Series 2010 | 4.90 | 3-1-2041 | 400,000 | 393,690 | ||
Health revenue: 0.28% | ||||||
Indiana Finance Authority Community Foundation | 3.63 | 3-1-2039 | 1,235,000 | 1,015,345 | ||
Miscellaneous revenue: 0.07% | ||||||
Indianapolis IN Local Public Improvement Bonds Series A-2 | 6.00 | 1-15-2040 | 235,000 | 255,072 | ||
Louisiana: 0.46% | ||||||
Tax revenue: 0.46% | ||||||
Louisiana Gasoline & Fuels Tax Revenue | 2.80 | 5-1-2035 | 500,000 | 401,865 | ||
Louisiana Local Government Environmental Facilities and Community Development Authority Taxable Louisiana Utilities Restoration | 4.28 | 2-1-2036 | 1,365,000 | 1,283,957 | ||
1,685,822 | ||||||
Massachusetts: 0.55% | ||||||
GO revenue: 0.12% | ||||||
Andover MA Taxable Pension Bonds | 2.52 | 11-1-2035 | 575,000 | 450,755 | ||
Tax revenue: 0.36% | ||||||
Massachusetts Special Obligation Revenue Bonds Series 2022A | 3.77 | 7-15-2029 | 850,000 | 808,017 | ||
Massachusetts Taxable Consolidated Loan Series E | 5.46 | 12-1-2039 | 500,000 | 516,985 | ||
1,325,002 | ||||||
Water & sewer revenue: 0.07% | ||||||
Massachusetts Water Resources Authority Series C | 2.49 | 8-1-2034 | 300,000 | 237,492 | ||
Michigan: 0.50% | ||||||
Education revenue: 0.28% | ||||||
University of Michigan Taxable Bond General Series A | 4.45 | 4-1-2122 | 1,205,000 | 1,022,689 | ||
Health revenue: 0.22% | ||||||
Michigan Finance Authority Trinity Health Credit Group Series T | 3.08 | 12-1-2034 | 930,000 | 798,648 | ||
Minnesota: 0.11% | ||||||
GO revenue: 0.11% | ||||||
Minnesota GO Taxable Various Purpose Bond | 1.32 | 8-1-2031 | 500,000 | 386,827 | ||
Mississippi: 0.35% | ||||||
Education revenue: 0.06% | ||||||
Mississippi Higher Education Assistance Corporation Series 2014-1 Class A1 (1 Month LIBOR +0.68%) ± | 5.19 | 10-25-2035 | 203,525 | 201,321 | ||
Miscellaneous revenue: 0.29% | ||||||
Mississippi Series E | 2.49 | 10-1-2035 | 1,350,000 | 1,052,068 |
See accompanying notes to portfolio of investments
Allspring Managed Fixed Income Portfolio | 13
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
New Jersey: 0.12% | ||||||
Miscellaneous revenue: 0.12% | ||||||
Hudson County NJ Improvement Authority Hudson County Lease Project (AGM Insured) | 7.40% | 12-1-2025 | $ | 420,000 | $ 436,227 | |
New York: 0.19% | ||||||
GO revenue: 0.12% | ||||||
New York Refunding Bond Series B | 2.65 | 2-15-2030 | 500,000 | 440,733 | ||
Miscellaneous revenue: 0.07% | ||||||
New York Taxable Bonds Series 2010C | 5.62 | 3-1-2040 | 250,000 | 262,479 | ||
North Dakota: 0.16% | ||||||
Miscellaneous revenue: 0.16% | ||||||
North Dakota Public Finance Authority Series 2021 | 2.68 | 12-1-2035 | 750,000 | 591,194 | ||
Ohio: 0.23% | ||||||
GO revenue: 0.06% | ||||||
Ohio Refunding Taxable Bond Common Schools Higher Education | 1.88 | 9-15-2034 | 300,000 | 227,233 | ||
Health revenue: 0.17% | ||||||
Ohio Hospital Facility Refunding Bond Cleveland Clinic | 3.28 | 1-1-2042 | 725,000 | 601,757 | ||
Oklahoma: 0.62% | ||||||
Utilities revenue: 0.44% | ||||||
Oklahoma Development Finance Authority Ratepayer-backed Bond Oklahoma Gas and Electric Company Series 2022 | 4.62 | 6-1-2044 | 1,085,000 | 1,037,467 | ||
Oklahoma Development Finance Authority Ratepayer-backed Bond Oklahoma Gas and Electric Company Series 2022 | 4.71 | 5-1-2052 | 250,000 | 235,934 | ||
Oklahoma Development Finance Authority Ratepayer-backed Bond Oklahoma Gas and Electric Company Series 2022 | 4.85 | 2-1-2045 | 355,000 | 346,140 | ||
�� | 1,619,541 | |||||
Water & sewer revenue: 0.18% | ||||||
Oklahoma Water Resources Board Refunding Bond Series 2019 (OK Credit Enhancement Reserve Fund Insured) | 2.56 | 4-1-2031 | 770,000 | 639,877 | ||
Oregon: 0.15% | ||||||
Education revenue: 0.15% | ||||||
Oregon Taxable Bond Higher Education Series A | 5.90 | 8-1-2038 | 500,000 | 537,287 | ||
Pennsylvania: 0.32% | ||||||
Education revenue: 0.32% | ||||||
Pennsylvania Higher Education Authority Class A (1 Month LIBOR +1.15%) 144A± | 5.77 | 9-25-2065 | 541,894 | 536,519 | ||
University of Pittsburgh Series A | 3.65 | 9-15-2036 | 715,000 | 621,116 | ||
1,157,635 |
See accompanying notes to portfolio of investments
14 | Allspring Managed Fixed Income Portfolio
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Rhode Island: 0.32% | ||||||
Education revenue: 0.32% | ||||||
Rhode Island Student Loan Authority Class A-1 (1 Month LIBOR +0.90%) ± | 5.47% | 7-1-2031 | $ | 1,162,413 | $ 1,160,971 | |
Texas: 0.70% | ||||||
Education revenue: 0.20% | ||||||
University of Texas Build America Bonds Series A | 5.26 | 7-1-2039 | 550,000 | 578,845 | ||
University of Texas Build America Bonds Series D | 5.13 | 8-15-2042 | 150,000 | 157,197 | ||
736,042 | ||||||
GO revenue: 0.50% | ||||||
Hidalgo County TX Refunding Bonds Series 2018C | 4.04 | 8-15-2030 | 1,270,000 | 1,214,059 | ||
Stafford TX Municipal School District Refunding Bond Series B | 3.08 | 8-15-2041 | 750,000 | 591,480 | ||
1,805,539 | ||||||
Vermont: 0.03% | ||||||
Housing revenue: 0.03% | ||||||
Vermont Housing Finance Agency | 3.80 | 11-1-2037 | 110,000 | 96,851 | ||
Virginia: 0.15% | ||||||
Education revenue: 0.13% | ||||||
University of Virginia Build America Bonds | 6.20 | 9-1-2039 | 215,000 | 245,664 | ||
University of Virginia Revenue Bond Series C | 4.18 | 9-1-2117 | 265,000 | 213,687 | ||
459,351 | ||||||
Housing revenue: 0.02% | ||||||
Virginia Housing Development Authority | 3.10 | 6-25-2041 | 74,455 | 66,618 | ||
Washington: 0.30% | ||||||
GO revenue: 0.30% | ||||||
King County WA Build America Bonds Series B | 6.05 | 12-1-2030 | 350,000 | 373,535 | ||
King County WA Public Hospital District | 2.70 | 12-1-2035 | 915,000 | 704,128 | ||
1,077,663 | ||||||
West Virginia: 0.11% | ||||||
Tax revenue: 0.11% | ||||||
Ohio County WV Special District Excise Tax Series A | 8.25 | 3-1-2035 | 385,000 | 396,427 | ||
Wisconsin: 0.20% | ||||||
GO revenue: 0.20% | ||||||
Wisconsin Taxable Refunding Bond Series 2 | 2.61 | 5-1-2032 | 240,000 | 202,824 | ||
Wisconsin Taxable Refunding Bond Series 4 | 2.10 | 5-1-2035 | 690,000 | 522,091 | ||
724,915 | ||||||
Total Municipal obligations (Cost $35,589,786) | 30,647,278 | |||||
Non-agency mortgage-backed securities: 8.25% | ||||||
Commercial Mortgage Pass-Through Certificate Series 2012-UBS5 Class A3 | 3.55 | 9-10-2047 | 161,574 | 159,247 | ||
Commercial Mortgage Pass-Through Certificate Series 2013-CR12 Class ASB | 3.62 | 10-10-2046 | 60,239 | 59,879 |
See accompanying notes to portfolio of investments
Allspring Managed Fixed Income Portfolio | 15
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Non-agency mortgage-backed securities (continued) | ||||||
Commercial Mortgage Pass-Through Certificate Series 2013-CR13 Class A4 ±± | 4.19% | 11-10-2046 | $ | 600,000 | $ 590,722 | |
Commercial Mortgage Pass-Through Certificate Series 2014-CR17 Class A5 | 3.98 | 5-10-2047 | 1,795,000 | 1,747,955 | ||
Commercial Mortgage Pass-Through Certificate Series 2014-CR21 Class A3 | 3.53 | 12-10-2047 | 2,546,085 | 2,457,416 | ||
Commercial Mortgage Pass-Through Certificate Series 2014-UBS5 Class A4 | 3.84 | 9-10-2047 | 620,000 | 600,747 | ||
Goldman Sachs Mortgage Securities Trust Series 2013-GC14 Class A5 | 4.24 | 8-10-2046 | 615,000 | 611,447 | ||
Goldman Sachs Mortgage Securities Trust Series 2013-GC16 Class A4 | 4.27 | 11-10-2046 | 350,000 | 346,321 | ||
Goldman Sachs Mortgage Securities Trust Series 2014-GC26 Class A5 | 3.63 | 11-10-2047 | 2,565,000 | 2,462,306 | ||
JPMorgan Chase Commercial Mortgage Securities Trust Series 2014-C19 Class A4 | 4.00 | 4-15-2047 | 450,000 | 440,544 | ||
JPMorgan Chase Commercial Mortgage Securities Trust Series 2014-C20 Class A5 | 3.80 | 7-15-2047 | 4,065,000 | 3,954,929 | ||
JPMorgan Chase Commercial Mortgage Securities Trust Series 2014-GC26 Class A4 | 3.49 | 1-15-2048 | 1,338,000 | 1,285,967 | ||
Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C15 Class ASB | 3.65 | 4-15-2047 | 103,130 | 102,130 | ||
Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C19 Class A4 | 3.53 | 12-15-2047 | 1,790,000 | 1,722,304 | ||
Small Business Investment Company Series 2021-10A Class 1 | 1.67 | 3-10-2031 | 573,781 | 510,637 | ||
Small Business Investment Company Series 2021-10B Class 1 | 1.30 | 9-10-2031 | 1,662,124 | 1,424,682 | ||
Small Business Investment Company Series 2022-10A Class 1 | 2.94 | 3-10-2032 | 3,495,722 | 3,211,824 | ||
Towd Point Mortgage Trust Series 2018-3 Class A1 144A±± | 3.75 | 5-25-2058 | 1,028,794 | 980,024 | ||
Towd Point Mortgage Trust Series 2019-4 Class A1 144A±± | 2.90 | 10-25-2059 | 1,247,796 | 1,159,478 | ||
WFRBS Commercial Mortgage Trust Series 2013-C17 Class A4 | 4.02 | 12-15-2046 | 4,370,000 | 4,303,506 | ||
WFRBS Commercial Mortgage Trust Series 2014-C20 Class A5 | 4.00 | 5-15-2047 | 1,876,047 | 1,830,488 | ||
Total Non-agency mortgage-backed securities (Cost $31,370,564) | 29,962,553 | |||||
U.S. Treasury securities: 8.37% | ||||||
U.S. Treasury Bond | 1.38 | 11-15-2040 | 6,905,000 | 4,537,070 | ||
U.S. Treasury Bond | 1.88 | 2-15-2041 | 1,460,000 | 1,043,501 | ||
U.S. Treasury Bond | 1.88 | 2-15-2051 | 944,000 | 616,329 | ||
U.S. Treasury Bond | 2.00 | 8-15-2051 | 2,140,000 | 1,438,398 | ||
U.S. Treasury Bond | 2.25 | 2-15-2052 | 1,785,000 | 1,272,719 | ||
U.S. Treasury Bond | 2.38 | 11-15-2049 | 10,063,000 | 7,420,676 | ||
U.S. Treasury Bond | 2.38 | 5-15-2051 | 1,185,000 | 869,910 | ||
U.S. Treasury Bond | 2.88 | 5-15-2052 | 2,968,000 | 2,430,398 | ||
U.S. Treasury Bond | 3.00 | 8-15-2052 | 789,000 | 663,253 | ||
U.S. Treasury Note | 1.88 | 11-15-2051 | 880,000 | 572,344 | ||
U.S. Treasury Note | 2.38 | 2-15-2042 | 2,855,000 | 2,197,569 | ||
U.S. Treasury Note | 3.38 | 8-15-2042 | 220,000 | 198,069 |
See accompanying notes to portfolio of investments
16 | Allspring Managed Fixed Income Portfolio
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
U.S. Treasury securities (continued) | ||||||
U.S. Treasury Note | 3.88% | 1-15-2026 | $ | 3,600,000 | $ 3,538,125 | |
U.S. Treasury Note | 4.00 | 11-15-2042 | 3,633,000 | 3,581,343 | ||
Total U.S. Treasury securities (Cost $40,388,870) | 30,379,704 | |||||
Yankee corporate bonds and notes: 7.02% | ||||||
Energy: 0.21% | ||||||
Oil, gas & consumable fuels: 0.21% | ||||||
Petroleos Mexicanos Company | 2.29 | 2-15-2024 | 27,500 | 27,106 | ||
Petroleos Mexicanos Company | 2.83 | 2-15-2024 | 57,500 | 56,451 | ||
Petroleos Mexicanos Company | 6.38 | 1-23-2045 | 1,080,000 | 680,913 | ||
764,470 | ||||||
Financials: 4.33% | ||||||
Banks: 3.44% | ||||||
Bank of Montreal | 4.70 | 9-14-2027 | 110,000 | 107,567 | ||
Bank of Montreal | 5.20 | 2-1-2028 | 460,000 | 458,107 | ||
Bank of Nova Scotia | 1.30 | 9-15-2026 | 1,040,000 | 903,511 | ||
BNP Paribas SA (3 Month LIBOR +1.11%) 144A± | 2.82 | 11-19-2025 | 820,000 | 778,709 | ||
BNP Paribas SA 144A | 4.40 | 8-14-2028 | 520,000 | 491,065 | ||
BPCE SA 144A | 4.75 | 7-19-2027 | 420,000 | 408,204 | ||
Cooperatieve Rabobank UA (1 Year Treasury Constant Maturity +1.00%) 144A± | 1.34 | 6-24-2026 | 530,000 | 478,120 | ||
Cooperatieve Rabobank UA (1 Year Treasury Constant Maturity +0.73%) 144A± | 1.98 | 12-15-2027 | 1,060,000 | 923,573 | ||
HSBC Holdings plc (U.S. SOFR +1.41%) ± | 2.87 | 11-22-2032 | 270,000 | 213,882 | ||
HSBC Holdings plc (3 Month LIBOR +1.35%) ± | 4.29 | 9-12-2026 | 950,000 | 914,516 | ||
HSBC Holdings plc (3 Month LIBOR +1.53%) ± | 4.58 | 6-19-2029 | 1,500,000 | 1,409,451 | ||
Mitsubishi UFJ Financial Group (1 Year Treasury Constant Maturity +0.75%) ± | 1.54 | 7-20-2027 | 1,050,000 | 918,618 | ||
Mitsubishi UFJ Financial Group (1 Year Treasury Constant Maturity +0.83%) ± | 2.34 | 1-19-2028 | 300,000 | 265,904 | ||
Mitsubishi UFJ Financial Group (1 Year Treasury Constant Maturity +0.97%) ± | 2.49 | 10-13-2032 | 260,000 | 204,728 | ||
Mitsubishi UFJ Financial Group (1 Year Treasury Constant Maturity +2.13%) ± | 5.13 | 7-20-2033 | 250,000 | 241,381 | ||
Royal Bank of Canada | 1.40 | 11-2-2026 | 830,000 | 724,081 | ||
Royal Bank of Canada | 4.24 | 8-3-2027 | 200,000 | 192,073 | ||
Sumitomo Mitsui Financial Group Incorporated | 1.47 | 7-8-2025 | 430,000 | 391,261 | ||
Sumitomo Mitsui Financial Group Incorporated | 1.90 | 9-17-2028 | 660,000 | 548,100 | ||
Sumitomo Mitsui Financial Group Incorporated | 2.17 | 1-14-2027 | 200,000 | 177,489 | ||
TD Bank National Association | 2.45 | 1-12-2032 | 230,000 | 186,165 | ||
Toronto Dominion Bank | 1.25 | 9-10-2026 | 1,130,000 | 984,502 | ||
Toronto Dominion Bank | 3.20 | 3-10-2032 | 410,000 | 351,971 | ||
Toronto Dominion Bank | 4.46 | 6-8-2032 | 230,000 | 216,484 | ||
12,489,462 | ||||||
Capital markets: 0.84% | ||||||
Credit Suisse Group AG (3 Month LIBOR +1.41%) 144A± | 3.87 | 1-12-2029 | 1,500,000 | 1,230,272 | ||
UBS Group AG 144A | 4.25 | 3-23-2028 | 1,500,000 | 1,414,534 |
See accompanying notes to portfolio of investments
Allspring Managed Fixed Income Portfolio | 17
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Capital markets (continued) | ||||||
UBS Group AG (1 Year Treasury Constant Maturity +2.40%) 144A± | 4.99% | 8-5-2033 | $ | 250,000 | $ 234,021 | |
UBS Group AG (1 Year Treasury Constant Maturity +1.10%) 144A± | 2.75 | 2-11-2033 | 200,000 | 157,172 | ||
3,035,999 | ||||||
Diversified financial services: 0.05% | ||||||
NTT Finance Corporation 144A | 4.37 | 7-27-2027 | 200,000 | 195,337 | ||
Health care: 0.24% | ||||||
Pharmaceuticals: 0.24% | ||||||
Teva Pharmaceutical Finance BV | 3.15 | 10-1-2026 | 975,000 | 851,906 | ||
Industrials: 0.96% | ||||||
Aerospace & defense: 0.12% | ||||||
Embraer Netherlands Finance BV | 5.05 | 6-15-2025 | 475,000 | 457,663 | ||
Electrical equipment: 0.28% | ||||||
Sensata Technologies BV 144A | 4.00 | 4-15-2029 | 935,000 | 824,642 | ||
Sensata Technologies BV 144A | 5.63 | 11-1-2024 | 185,000 | 183,034 | ||
1,007,676 | ||||||
Machinery: 0.56% | ||||||
CNH Industrial NV | 4.50 | 8-15-2023 | 600,000 | 596,890 | ||
Siemens Finance 144A | 1.70 | 3-11-2028 | 660,000 | 567,749 | ||
Trane Technologies plc | 3.80 | 3-21-2029 | 930,000 | 856,372 | ||
2,021,011 | ||||||
Information technology: 0.75% | ||||||
Semiconductors & semiconductor equipment: 0.22% | ||||||
NXP BV | 2.65 | 2-15-2032 | 870,000 | 683,708 | ||
NXP BV | 5.00 | 1-15-2033 | 110,000 | 103,261 | ||
786,969 | ||||||
Software: 0.28% | ||||||
Experian Finance plc 144A | 4.25 | 2-1-2029 | 510,000 | 467,981 | ||
OpenText Corporation 144A | 6.90 | 12-1-2027 | 550,000 | 555,500 | ||
1,023,481 | ||||||
Technology hardware, storage & peripherals: 0.25% | ||||||
Seagate HDD | 3.13 | 7-15-2029 | 375,000 | 301,471 | ||
TSMC Global Limited 144A« | 1.25 | 4-23-2026 | 700,000 | 618,139 | ||
919,610 | ||||||
Materials: 0.53% | ||||||
Chemicals: 0.04% | ||||||
Nutrien Limited | 2.95 | 5-13-2030 | 180,000 | 153,627 |
See accompanying notes to portfolio of investments
18 | Allspring Managed Fixed Income Portfolio
Portfolio of investments—February 28, 2023 (unaudited)
Interest rate | Maturity date | Principal | Value | |||
Metals & mining: 0.49% | ||||||
Anglo American Capital plc 144A | 4.75% | 4-10-2027 | $ | 1,000,000 | $ 971,046 | |
South23 Treasury Limited 144A | 4.35 | 4-14-2032 | 900,000 | 791,640 | ||
1,762,686 | ||||||
Total Yankee corporate bonds and notes (Cost $28,497,650) | 25,469,897 |
Yield | Shares | |||||
Short-term investments: 2.18% | ||||||
Investment companies: 2.18% | ||||||
Allspring Government Money Market Fund Select Class ♠∞## | 4.39 | 6,516,568 | 6,516,568 | |||
Securities Lending Cash Investments LLC ♠∩∞ | 4.54 | 1,409,335 | 1,409,335 | |||
Total Short-term investments (Cost $7,925,848) | 7,925,903 | |||||
Total investments in securities (Cost $407,297,202) | 100.01% | 363,094,886 | ||||
Other assets and liabilities, net | (0.01) | (30,990) | ||||
Total net assets | 100.00% | $363,063,896 |
±± | 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. |
144A | The security may be resold in transactions exempt from registration, normally to qualified institutional buyers, pursuant to Rule 144A under the Securities Act of 1933. |
± | Variable rate investment. The rate shown is the rate in effect at period end. |
## | All or a portion of this security is segregated for when-issued securities. |
« | All or a portion of this security is on loan. |
♠ | The issuer of the security is an affiliated person of the Portfolio as defined in the Investment Company Act of 1940. |
∩ | The investment is a non-registered investment company purchased with cash collateral received from securities on loan. |
∞ | The rate represents the 7-day annualized yield at period end. |
%% | The security is purchased on a when-issued basis. |
Abbreviations: | |
AGM | Assured Guaranty Municipal |
FHLMC | Federal Home Loan Mortgage Corporation |
FNMA | Federal National Mortgage Association |
GNMA | Government National Mortgage Association |
GO | General obligation |
LIBOR | London Interbank Offered Rate |
RDA | Redevelopment Authority |
REIT | Real estate investment trust |
SBA | Small Business Authority |
SOFR | Secured Overnight Financing Rate |
See accompanying notes to portfolio of investments
Allspring Managed Fixed Income Portfolio | 19
Portfolio of investments—February 28, 2023 (unaudited)
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 | $3,324,978 | $80,410,353 | $(77,218,763) | $ 0 | $ 0 | $6,516,568 | 6,516,568 | $ 96,922 | ||
Securities Lending Cash Investments LLC | 479,633 | 12,053,143 | (11,123,342) | (155) | 56 | 1,409,335 | 1,409,335 | 37,873# | ||
$(155) | $56 | $7,925,903 | $134,795 |
# | Amount shown represents income before fees and rebates. |
See accompanying notes to portfolio of investments
20 | Allspring Managed Fixed Income Portfolio
Notes to portfolio of investments—February 28, 2023 (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. Interests in non-registered investment companies that are redeemable at net asset value are fair valued normally 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.
Securities lending
The Portfolio may lend its securities from time to time in order to earn additional income in the form of fees or interest on securities received as collateral or the investment of any cash received as collateral. When securities are on loan, the Portfolio receives interest or dividends on those securities. Cash collateral received in connection with its securities lending transactions is invested in Securities Lending Cash Investments, LLC (the "Securities Lending Fund"), an affiliated non-registered investment company. Investments in Securities Lending Fund are valued at the evaluated bid price provided by an independent pricing service. The Securities Lending Fund is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940 and is managed by Allspring Funds Management and is subadvised by Allspring Global Investments, LLC ("Allspring Investments"), an affiliate of Allspring Funds Management and wholly owned subsidiary of Allspring Global Investments Holdings, LLC. Allspring Funds Management receives an advisory fee starting at 0.05% and declining to 0.01% as the average daily net assets of the Securities Lending Fund increase. All of the fees received by Allspring Funds Management are paid to Allspring Investments for its services as subadviser. The Securities Lending Fund seeks to provide a positive return compared to the daily Fed Funds Open Rate by investing in high-quality, U.S. dollar-denominated short-term money market instruments.
In a securities lending transaction, the net asset value of the Portfolio is affected by an increase or decrease in the value of the securities loaned and by an increase or decrease in the value of the instrument in which collateral is invested. The amount of securities lending activity undertaken by the Portfolio fluctuates from time to time. The Portfolio has the right under the lending agreement to recover the securities from the borrower on demand. In the event of default or bankruptcy by the borrower, the Portfolio may be prevented from recovering the loaned securities or gaining access to the collateral or may experience delays or costs in doing so. In such an event, the terms of the agreement allow the unaffiliated securities lending agent to use the collateral to purchase replacement securities on behalf of the Portfolio or pay the Portfolio the market value of the loaned securities. The Portfolio bears the risk of loss with respect to depreciation of its investment of the cash collateral.
When-issued transactions
The Fund may purchase securities on a forward commitment or when-issued basis. The Fund records a when-issued transaction on the trade date and will segregate assets in an amount at least equal in value to the Fund's commitment to purchase when-issued securities. Securities purchased on a when-issued basis are marked-to-market daily and the Fund begins earning interest on the settlement date. Losses may arise due to changes in the market value of the underlying securities or if the counterparty does not perform under the contract.
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
Allspring Managed Fixed Income Portfolio | 21
Notes to portfolio of investments—February 28, 2023 (unaudited)
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) |
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 February 28, 2023:
Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total | |
Assets | ||||
Investments in: | ||||
Agency securities | $0 | $92,953,281 | $0 | $92,953,281 |
Asset-backed securities | 0 | 4,742,820 | 0 | 4,742,820 |
Corporate bonds and notes | 0 | 141,013,450 | 0 | 141,013,450 |
Municipal obligations | 0 | 30,647,278 | 0 | 30,647,278 |
Non-agency mortgage-backed securities | 0 | 29,962,553 | 0 | 29,962,553 |
U.S. Treasury securities | 30,379,704 | 0 | 0 | 30,379,704 |
Yankee corporate bonds and notes | 0 | 25,469,897 | 0 | 25,469,897 |
Short-term investments | ||||
Investment companies | 7,925,903 | 0 | 0 | 7,925,903 |
Total assets | $38,305,607 | $324,789,279 | $0 | $363,094,886 |
Additional sector, industry or geographic detail, if any, is included in the Portfolio of Investments.
For the nine months ended February 28, 2023, the Portfolio did not have any transfers into/out of Level 3.
22 | Allspring Managed Fixed Income Portfolio