Portfolio of investments—May 31, 2023 (unaudited)
Portfolio of investments
Shares | Value | |||||
Common stocks: 96.59% | ||||||
Australia: 6.53% | ||||||
Ampol Ltd. (Energy, Oil, gas & consumable fuels) | 17,298 | $353,409 | ||||
ANZ Group Holdings Ltd. (Financials, Banks) | 55,149 | 822,179 | ||||
Aristocrat Leisure Ltd. (Consumer discretionary, Hotels, restaurants & leisure) | 15,459 | 373,555 | ||||
ASX Ltd. (Financials, Capital markets) | 3,256 | 142,808 | ||||
Aurizon Holdings Ltd. (Industrials, Ground transportation) | 216,925 | 502,312 | ||||
BHP Group Ltd. (Materials, Metals & mining) | 134,392 | 3,673,190 | ||||
BlueScope Steel Ltd. (Materials, Metals & mining) | 32,209 | 388,000 | ||||
Brambles Ltd. (Industrials, Commercial services & supplies) | 61,067 | 545,767 | ||||
Cochlear Ltd. (Health care, Health care equipment & supplies) | 3,144 | 497,777 | ||||
Coles Group Ltd. (Consumer staples, Consumer staples distribution & retail) | 39,937 | 467,067 | ||||
Commonwealth Bank of Australia (Financials, Banks) | 32,560 | 2,049,670 | ||||
CSL Ltd. (Health care, Biotechnology) | 10,688 | 2,130,027 | ||||
Dexus (Real estate, Office REITs) | 68,913 | 368,009 | ||||
Endeavour Group Ltd. (Consumer staples, Consumer staples distribution & retail) | 14,313 | 57,442 | ||||
Fortescue Metals Group Ltd. (Materials, Metals & mining) | 56,507 | 706,431 | ||||
Glencore PLC (Materials, Metals & mining)† | 309,931 | 1,586,299 | ||||
Goodman Group (Real estate, Industrial REITs) | 27,764 | 354,500 | ||||
GPT Group (Real estate, Diversified REITs) | 102,538 | 279,456 | ||||
IGO Ltd. (Materials, Metals & mining) | 12,317 | 114,245 | ||||
Insurance Australia Group Ltd. (Financials, Insurance) | 34,795 | 117,462 | ||||
Lendlease Corp. Ltd. (Real estate, Real estate management & development) | 18,393 | 94,513 | ||||
Lottery Corp. Ltd. (Consumer discretionary, Hotels, restaurants & leisure) | 50,001 | 161,965 | ||||
Macquarie Group Ltd. (Financials, Capital markets) | 6,177 | 686,004 | ||||
Medibank Pvt Ltd. (Financials, Insurance) | 209,666 | 486,867 | ||||
Mineral Resources Ltd. (Materials, Metals & mining) | 7,299 | 336,085 | ||||
Mirvac Group (Real estate, Diversified REITs) | 145,741 | 218,034 | ||||
National Australia Bank Ltd. (Financials, Banks) | 48,442 | 818,291 | ||||
Orica Ltd. (Materials, Chemicals) | 35,246 | 350,535 | ||||
Pilbara Minerals Ltd. (Materials, Metals & mining) | 253,917 | 728,357 | ||||
Qantas Airways Ltd. (Industrials, Passenger airlines)† | 64,273 | 278,012 | ||||
QBE Insurance Group Ltd. (Financials, Insurance) | 35,497 | 337,562 | ||||
Ramsay Health Care Ltd. (Health care, Health care providers & services) | 6,025 | 224,831 | ||||
REA Group Ltd. (Communication services, Interactive media & services) | 1,146 | 102,517 | ||||
Reece Ltd. (Industrials, Trading companies & distributors) | 1,598 | 18,876 | ||||
Rio Tinto Ltd. (Materials, Metals & mining) | 13,756 | 957,392 | ||||
Scentre Group (Real estate, Retail REITs) | 219,078 | 386,173 | ||||
SEEK Ltd. (Communication services, Interactive media & services) | 9,987 | 152,852 | ||||
Sonic Healthcare Ltd. (Health care, Health care providers & services) | 18,998 | 434,852 | ||||
South32 Ltd. (Materials, Metals & mining) | 140,814 | 355,379 | ||||
Stockland (Real estate, Diversified REITs) | 105,631 | 292,695 | ||||
Suncorp Group Ltd. (Financials, Insurance) | 12,852 | 111,182 | ||||
Telstra Group Ltd. (Communication services, Diversified telecommunication services) | 95,900 | 271,969 | ||||
Transurban Group (Industrials, Transportation infrastructure) | 13,189 | 127,309 | ||||
Treasury Wine Estates Ltd. (Consumer staples, Beverages) | 17,401 | 131,521 | ||||
Vicinity Ltd. (Real estate, Retail REITs) | 349,892 | 422,174 | ||||
Wesfarmers Ltd. (Consumer discretionary, Broadline retail) | 31,640 | 981,060 | ||||
Westpac Banking Corp. (Financials, Banks) | 58,707 | 789,686 | ||||
WiseTech Global Ltd. (Information technology, Software) | 3,163 | 153,953 |
See accompanying notes to portfolio of investments
Allspring Factor Enhanced International Equity Portfolio | 1
Portfolio of investments—May 31, 2023 (unaudited)
Shares | Value | |||||
Australia (continued) | ||||||
Woodside Energy Group Ltd. (Energy, Oil, gas & consumable fuels) | 26,468 | $590,513 | ||||
Woolworths Group Ltd. (Consumer staples, Consumer staples distribution & retail) | 34,107 | 832,821 | ||||
27,363,585 | ||||||
Austria: 0.13% | ||||||
Erste Group Bank AG (Financials, Banks) | 1,944 | 62,899 | ||||
OMV AG (Energy, Oil, gas & consumable fuels) | 7,220 | 321,664 | ||||
voestalpine AG (Materials, Metals & mining) | 4,948 | 153,273 | ||||
537,836 | ||||||
Belgium: 0.85% | ||||||
Ageas SA (Financials, Insurance) | 13,373 | 533,610 | ||||
Anheuser-Busch InBev SA (Consumer staples, Beverages) | 20,122 | 1,073,485 | ||||
D’ieteren Group (Consumer discretionary, Distributors) | 471 | 81,408 | ||||
Groupe Bruxelles Lambert NV (Financials, Financial services) | 1,456 | 112,180 | ||||
KBC Group NV (Financials, Banks)† | 9,190 | 600,983 | ||||
Solvay SA (Materials, Chemicals) | 4,941 | 515,785 | ||||
UCB SA (Health care, Pharmaceuticals) | 570 | 49,668 | ||||
Umicore SA (Materials, Chemicals) | 19,724 | 548,158 | ||||
Warehouses De Pauw CVA (Real estate, Industrial REITs) | 2,157 | 60,499 | ||||
3,575,776 | ||||||
Canada: 10.02% | ||||||
Alimentation Couche-Tard, Inc. (Consumer staples, Consumer staples distribution & retail) | 26,270 | 1,271,991 | ||||
AltaGas Ltd. (Utilities, Gas utilities) | 3,700 | 62,743 | ||||
ARC Resources Ltd. (Energy, Oil, gas & consumable fuels) | 19,000 | 228,980 | ||||
Bank of Montreal (Financials, Banks) | 12,391 | 1,033,450 | ||||
Bank of Nova Scotia (Financials, Banks) | 19,108 | 922,955 | ||||
Barrick Gold Corp. (Materials, Metals & mining) | 32,500 | 549,208 | ||||
Brookfield Asset Management Ltd. Class A (Financials, Capital markets) | 22,357 | 683,474 | ||||
Brookfield Corp. (Financials, Capital markets) | 32,228 | 967,908 | ||||
Brookfield Renewable Corp. Class A (Utilities, Independent power and renewable electricity producers) | 1,900 | 63,767 | ||||
BRP, Inc. (Consumer discretionary, Leisure products) | 10,600 | 753,596 | ||||
Canadian Imperial Bank of Commerce (Financials, Banks) | 10,648 | 439,019 | ||||
Canadian National Railway Co. (Industrials, Ground transportation) | 14,137 | 1,593,966 | ||||
Canadian Natural Resources Ltd. (Energy, Oil, gas & consumable fuels) | 27,300 | 1,470,681 | ||||
Canadian Pacific Kansas City Ltd. (Industrials, Ground transportation) | 21,710 | 1,654,278 | ||||
Canadian Tire Corp. Ltd. Class A (Consumer discretionary, Broadline retail) | 3,800 | 456,448 | ||||
Canadian Utilities Ltd. Class A (Utilities, Multi-utilities) | 17,500 | 469,890 | ||||
CCL Industries, Inc. Class B (Materials, Containers & packaging) | 10,400 | 484,567 | ||||
Cenovus Energy, Inc. (Energy, Oil, gas & consumable fuels) | 47,800 | 763,744 | ||||
CGI, Inc. (Information technology, IT services)† | 12,265 | 1,270,320 | ||||
Constellation Software, Inc. (Information technology, Software) | 528 | 1,076,618 | ||||
Descartes Systems Group, Inc. (Information technology, Software)† | 2,800 | 216,492 | ||||
Dollarama, Inc. (Consumer discretionary, Broadline retail) | 10,300 | 626,574 | ||||
Element Fleet Management Corp. (Financials, Financial services) | 91,000 | 1,380,250 | ||||
Emera, Inc. (Utilities, Electric utilities) | 1,100 | 45,353 |
See accompanying notes to portfolio of investments
2 | Allspring Factor Enhanced International Equity Portfolio
Portfolio of investments—May 31, 2023 (unaudited)
Shares | Value | |||||
Canada (continued) | ||||||
Empire Co. Ltd. Class A (Consumer staples, Consumer staples distribution & retail) | 11,600 | $295,832 | ||||
Enbridge, Inc. (Energy, Oil, gas & consumable fuels) | 30,200 | 1,063,173 | ||||
Fairfax Financial Holdings Ltd. (Financials, Insurance) | 700 | 502,443 | ||||
First Quantum Minerals Ltd. (Materials, Metals & mining) | 6,200 | 129,892 | ||||
FirstService Corp. (Real estate, Real estate management & development) | 900 | 130,740 | ||||
Fortis, Inc. (Utilities, Electric utilities) | 6,344 | 266,845 | ||||
Franco-Nevada Corp. (Materials, Metals & mining) | 1,200 | 174,391 | ||||
George Weston Ltd. (Consumer staples, Consumer staples distribution & retail) | 5,000 | 588,140 | ||||
Gildan Activewear, Inc. (Consumer discretionary, Textiles, apparel & luxury goods) | 14,900 | 406,334 | ||||
Hydro One Ltd. (Utilities, Electric utilities)144A | 17,300 | 493,066 | ||||
iA Financial Corp., Inc. (Financials, Insurance) | 7,500 | 478,011 | ||||
IGM Financial, Inc. (Financials, Capital markets) | 17,900 | 525,858 | ||||
Imperial Oil Ltd. (Energy, Oil, gas & consumable fuels) | 10,600 | 481,158 | ||||
Intact Financial Corp. (Financials, Insurance) | 2,475 | 364,750 | ||||
Loblaw Cos. Ltd. (Consumer staples, Consumer staples distribution & retail) | 5,300 | 463,394 | ||||
Lundin Mining Corp. (Materials, Metals & mining) | 11,200 | 78,297 | ||||
Magna International, Inc. (Consumer discretionary, Automobile components) | 13,027 | 630,286 | ||||
Manulife Financial Corp. (Financials, Insurance) | 59,200 | 1,096,781 | ||||
Metro, Inc. (Consumer staples, Consumer staples distribution & retail)† | 8,130 | 427,671 | ||||
National Bank of Canada (Financials, Banks) | 5,408 | 387,703 | ||||
Northland Power, Inc. (Utilities, Independent power and renewable electricity producers) | 11,000 | 241,311 | ||||
Nutrien Ltd. (Materials, Chemicals) | 13,600 | 716,517 | ||||
Open Text Corp. (Information technology, Software) | 6,618 | 275,153 | ||||
Parkland Corp. (Energy, Oil, gas & consumable fuels) | 500 | 12,471 | ||||
Pembina Pipeline Corp. (Energy, Oil, gas & consumable fuels) | 6,600 | 199,823 | ||||
Power Corp. of Canada (Financials, Insurance) | 6,800 | 176,024 | ||||
Quebecor, Inc. Class B (Communication services, Media) | 3,800 | 90,612 | ||||
RB Global, Inc. (Industrials, Commercial services & supplies) | 3,800 | 198,496 | ||||
Restaurant Brands International, Inc. (Consumer discretionary, Hotels, restaurants & leisure) | 11,403 | 827,904 | ||||
RioCan Real Estate Investment Trust (Real estate, Retail REITs) | 16,300 | 240,387 | ||||
Rogers Communications, Inc. Class B (Communication services, Wireless telecommunication services) | 3,437 | 151,532 | ||||
Royal Bank of Canada (Financials, Banks) | 29,331 | 2,623,693 | ||||
Saputo, Inc. (Consumer staples, Food products) | 23,100 | 597,622 | ||||
Shopify, Inc. Class A (Information technology, IT services)† | 8,600 | 492,053 | ||||
Sun Life Financial, Inc. (Financials, Insurance) | 12,058 | 584,025 | ||||
Suncor Energy, Inc. (Energy, Oil, gas & consumable fuels) | 41,000 | 1,148,604 | ||||
TC Energy Corp. (Energy, Oil, gas & consumable fuels) | 7,600 | 295,826 | ||||
Teck Resources Ltd. Class B (Materials, Metals & mining)† | 17,100 | 667,498 | ||||
TFI International, Inc. (Industrials, Ground transportation) | 8,700 | 916,464 | ||||
Thomson Reuters Corp. (Industrials, Professional services)† | 2,900 | 368,765 | ||||
TMX Group Ltd. (Financials, Capital markets) | 800 | 87,078 | ||||
Toromont Industries Ltd. (Industrials, Trading companies & distributors) | 2,700 | 208,840 | ||||
Toronto-Dominion Bank (Financials, Banks) | 36,818 | 2,084,048 | ||||
Tourmaline Oil Corp. (Energy, Oil, gas & consumable fuels) | 15,500 | 647,974 |
See accompanying notes to portfolio of investments
Allspring Factor Enhanced International Equity Portfolio | 3
Portfolio of investments—May 31, 2023 (unaudited)
Shares | Value | |||||
Canada (continued) | ||||||
West Fraser Timber Co. Ltd. (Materials, Paper & forest products) | 6,700 | $452,145 | ||||
Wheaton Precious Metals Corp. (Materials, Metals & mining) | 4,400 | 199,402 | ||||
41,975,304 | ||||||
China: 0.10% | ||||||
Budweiser Brewing Co. APAC Ltd. (Consumer staples, Beverages)144A | 5,100 | 12,818 | ||||
SITC International Holdings Co. Ltd. (Industrials, Marine transportation) | 145,000 | 251,837 | ||||
Xinyi Glass Holdings Ltd. (Industrials, Building products) | 116,000 | 171,546 | ||||
436,201 | ||||||
Denmark: 2.82% | ||||||
AP Moller - Maersk AS Class B (Industrials, Marine transportation) | 190 | 319,501 | ||||
Carlsberg AS Class B (Consumer staples, Beverages) | 6,015 | 906,137 | ||||
Coloplast AS Class B (Health care, Health care equipment & supplies) | 1,073 | 135,075 | ||||
Danske Bank AS (Financials, Banks)† | 15,669 | 318,704 | ||||
Demant AS (Health care, Health care equipment & supplies)† | 5,949 | 226,119 | ||||
DSV AS (Industrials, Air freight & logistics) | 3,057 | 589,096 | ||||
Genmab AS (Health care, Biotechnology)† | 2,532 | 990,390 | ||||
Novo Nordisk AS Class B (Health care, Pharmaceuticals) | 41,464 | 6,643,382 | ||||
Pandora AS (Consumer discretionary, Textiles, apparel & luxury goods) | 10,352 | 824,695 | ||||
ROCKWOOL AS Class B (Industrials, Building products) | 1,801 | 429,397 | ||||
Vestas Wind Systems AS (Industrials, Electrical equipment)† | 14,814 | 421,753 | ||||
11,804,249 | ||||||
Finland: 0.94% | ||||||
Elisa Oyj (Communication services, Diversified telecommunication services) | 3,865 | 216,480 | ||||
Kesko Oyj Class B (Consumer staples, Consumer staples distribution & retail) | 9,832 | 185,859 | ||||
Kone Oyj Class B (Industrials, Machinery) | 6,169 | 313,020 | ||||
Metso Corp. (Industrials, Machinery) | 24,549 | 268,571 | ||||
Neste Oyj (Energy, Oil, gas & consumable fuels) | 2,254 | 85,217 | ||||
Nokia Oyj (Information technology, Communications equipment) | 107,880 | 437,613 | ||||
Nordea Bank Abp (Financials, Banks) | 93,083 | 915,064 | ||||
Orion Oyj Class B (Health care, Pharmaceuticals) | 11,412 | 482,930 | ||||
Sampo Oyj Class A (Financials, Insurance) | 13,492 | 620,417 | ||||
UPM-Kymmene Oyj (Materials, Paper & forest products) | 6,726 | 201,807 | ||||
Wartsila Oyj Abp (Industrials, Machinery) | 19,970 | 226,054 | ||||
3,953,032 | ||||||
France: 9.31% | ||||||
Aeroports de Paris (Industrials, Transportation infrastructure)† | 2,184 | 331,729 | ||||
Air Liquide SA (Materials, Chemicals) | 9,598 | 1,607,018 | ||||
Alstom SA (Industrials, Machinery)† | 3,764 | 103,561 | ||||
Amundi SA (Financials, Capital markets)144A | 11,454 | 643,991 | ||||
Arkema SA (Materials, Chemicals) | 1,598 | 139,210 | ||||
AXA SA (Financials, Insurance) | 50,762 | 1,433,265 | ||||
BioMerieux (Health care, Health care equipment & supplies) | 1,955 | 195,680 | ||||
BNP Paribas SA (Financials, Banks) | 25,205 | 1,455,118 | ||||
Bollore SE (Communication services, Entertainment) | 60,724 | 388,798 | ||||
Bouygues SA (Industrials, Construction & engineering) | 1,111 | 35,579 |
See accompanying notes to portfolio of investments
4 | Allspring Factor Enhanced International Equity Portfolio
Portfolio of investments—May 31, 2023 (unaudited)
Shares | Value | |||||
France (continued) | ||||||
Bureau Veritas SA (Industrials, Professional services) | 4,277 | $108,486 | ||||
Capgemini SE (Information technology, IT services) | 3,195 | 555,984 | ||||
Carrefour SA (Consumer staples, Consumer staples distribution & retail) | 16,120 | 296,109 | ||||
CIE de Saint-Gobain (Industrials, Building products) | 13,000 | 719,797 | ||||
Cie Generale des Etablissements Michelin SCA (Consumer discretionary, Automobile components) | 11,396 | 323,532 | ||||
Covivio SA (Real estate, Office REITs) | 7,895 | 385,998 | ||||
Credit Agricole SA (Financials, Banks) | 12,167 | 139,053 | ||||
Danone SA (Consumer staples, Food products) | 13,626 | 806,018 | ||||
Dassault Systemes SE (Information technology, Software) | 8,005 | 351,760 | ||||
Edenred (Financials, Financial services) | 4,803 | 308,446 | ||||
Eiffage SA (Industrials, Construction & engineering) | 2,263 | 240,973 | ||||
Engie SA (Utilities, Multi-utilities) | 46,093 | 691,833 | ||||
EssilorLuxottica SA (Health care, Health care equipment & supplies) | 6,124 | 1,102,599 | ||||
Eurazeo SE (Financials, Financial services) | 3,791 | 258,936 | ||||
Gecina SA (Real estate, Office REITs) | 2,564 | 262,418 | ||||
Getlink SE (Industrials, Transportation infrastructure) | 7,810 | 132,568 | ||||
Hermes International (Consumer discretionary, Textiles, apparel & luxury goods) | 481 | 977,793 | ||||
Ipsen SA (Health care, Pharmaceuticals) | 1,809 | 209,027 | ||||
Kering SA (Consumer discretionary, Textiles, apparel & luxury goods) | 1,255 | 668,522 | ||||
Klepierre SA (Real estate, Retail REITs)† | 22,567 | 510,901 | ||||
La Francaise des Jeux SAEM (Consumer discretionary, Hotels, restaurants & leisure)144A | 10,367 | 399,591 | ||||
Legrand SA (Industrials, Electrical equipment) | 5,116 | 483,743 | ||||
L’Oreal SA (Consumer staples, Personal care products) | 5,456 | 2,326,936 | ||||
LVMH Moet Hennessy Louis Vuitton SE (Consumer discretionary, Textiles, apparel & luxury goods) | 6,226 | 5,416,483 | ||||
Orange SA (Communication services, Diversified telecommunication services) | 63,077 | 753,250 | ||||
Pernod Ricard SA (Consumer staples, Beverages) | 3,036 | 655,851 | ||||
Publicis Groupe SA (Communication services, Media) | 4,328 | 320,688 | ||||
Renault SA (Consumer discretionary, Automobiles) | 16,845 | 563,306 | ||||
Safran SA (Industrials, Aerospace & defense) | 3,526 | 510,466 | ||||
Sanofi (Health care, Pharmaceuticals) | 27,082 | 2,746,582 | ||||
Sartorius Stedim Biotech (Health care, Life sciences tools & services) | 763 | 200,304 | ||||
Schneider Electric SE (Industrials, Electrical equipment) | 11,699 | 2,017,567 | ||||
Societe Generale SA (Financials, Banks) | 26,626 | 615,601 | ||||
Sodexo SA (Consumer discretionary, Hotels, restaurants & leisure)† | 6,265 | 676,698 | ||||
Teleperformance (Industrials, Professional services) | 331 | 49,498 | ||||
Thales SA (Industrials, Aerospace & defense) | 2,608 | 363,236 | ||||
TotalEnergies SE (Energy, Oil, gas & consumable fuels) | 58,392 | 3,313,000 | ||||
Valeo SA (Consumer discretionary, Automobile components) | 6,707 | 128,757 | ||||
Veolia Environnement SA (Utilities, Multi-utilities) | 7,972 | 234,676 | ||||
Vinci SA (Industrials, Construction & engineering) | 9,293 | 1,056,107 | ||||
Wendel SE (Financials, Financial services) | 7,009 | 736,456 | ||||
Worldline SA (Financials, Financial services)144A† | 1,780 | 69,161 | ||||
39,022,659 | ||||||
Germany: 7.05% | ||||||
adidas AG (Consumer discretionary, Textiles, apparel & luxury goods) | 1,746 | 282,744 |
See accompanying notes to portfolio of investments
Allspring Factor Enhanced International Equity Portfolio | 5
Portfolio of investments—May 31, 2023 (unaudited)
Shares | Value | |||||
Germany (continued) | ||||||
Allianz SE (Financials, Insurance) | 8,992 | $1,922,118 | ||||
BASF SE (Materials, Chemicals) | 23,749 | 1,127,489 | ||||
Bayer AG (Health care, Pharmaceuticals) | 25,808 | 1,438,343 | ||||
Bayerische Motoren Werke AG (Consumer discretionary, Automobiles) | 7,797 | 849,423 | ||||
Bechtle AG (Information technology, IT services) | 5,027 | 197,095 | ||||
Beiersdorf AG (Consumer staples, Personal care products) | 2,466 | 314,068 | ||||
Brenntag SE (Industrials, Trading companies & distributors) | 3,770 | 295,703 | ||||
Carl Zeiss Meditec AG (Health care, Health care equipment & supplies) | 1,290 | 144,576 | ||||
Commerzbank AG (Financials, Banks)† | 57,106 | 573,782 | ||||
Continental AG (Consumer discretionary, Automobile components) | 6,033 | 401,624 | ||||
Covestro AG (Materials, Chemicals)144A† | 6,148 | 236,972 | ||||
Daimler Truck Holding AG (Industrials, Machinery)† | 13,253 | 400,902 | ||||
Deutsche Bank AG (Financials, Capital markets) | 91,527 | 927,068 | ||||
Deutsche Boerse AG (Financials, Capital markets) | 995 | 171,764 | ||||
Deutsche Lufthansa AG (Industrials, Passenger airlines)† | 29,030 | 284,236 | ||||
Deutsche Post AG (Industrials, Air freight & logistics) | 21,807 | 980,165 | ||||
Deutsche Telekom AG (Communication services, Diversified telecommunication services) | 79,593 | 1,764,922 | ||||
Evonik Industries AG (Materials, Chemicals) | 1,204 | 24,124 | ||||
Fresenius Medical Care AG & Co. KGaA (Health care, Health care providers & services) | 1,622 | 69,264 | ||||
Fresenius SE & Co. KGaA (Health care, Health care providers & services) | 15,606 | 426,873 | ||||
GEA Group AG (Industrials, Machinery) | 9,063 | 380,620 | ||||
Hannover Rueck SE (Financials, Insurance) | 439 | 93,943 | ||||
Heidelberg Materials AG (Materials, Construction materials) | 7,124 | 509,281 | ||||
HelloFresh SE (Consumer staples, Consumer staples distribution & retail)† | 1,032 | 24,522 | ||||
Henkel AG & Co. KGaA (Consumer staples, Household products) | 3,382 | 242,640 | ||||
Infineon Technologies AG (Information technology, Semiconductors & semiconductor equipment) | 34,819 | 1,292,582 | ||||
ING Groep NV (Financials, Banks) | 106,765 | 1,313,306 | ||||
Knorr-Bremse AG (Industrials, Machinery) | 5,767 | 394,395 | ||||
LEG Immobilien SE (Real estate, Real estate management & development)† | 2,673 | 138,601 | ||||
Mercedes-Benz Group AG (Consumer discretionary, Automobiles) | 23,744 | 1,770,760 | ||||
Merck KGaA (Health care, Pharmaceuticals) | 4,302 | 748,391 | ||||
MTU Aero Engines AG (Industrials, Aerospace & defense) | 1,217 | 280,724 | ||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Financials, Insurance) | 3,863 | 1,379,140 | ||||
Rational AG (Industrials, Machinery) | 32 | 21,464 | ||||
Rheinmetall AG (Industrials, Aerospace & defense) | 2,166 | 547,322 | ||||
RWE AG (Utilities, Independent power and renewable electricity producers) | 7,105 | 297,098 | ||||
SAP SE (Information technology, Software) | 24,150 | 3,153,947 | ||||
Scout24 SE (Communication services, Interactive media & services)144A | 12,231 | 784,423 | ||||
Siemens AG (Industrials, Industrial conglomerates) | 16,872 | 2,765,408 | ||||
Siemens Healthineers AG (Health care, Health care equipment & supplies)144A | 1,934 | 109,358 | ||||
Telefonica Deutschland Holding AG (Communication services, Diversified telecommunication services) | 7,565 | 21,307 | ||||
United Internet AG (Communication services, Diversified telecommunication services) | 25,817 | 370,888 | ||||
Volkswagen AG (Consumer discretionary, Automobiles) | 384 | 57,628 | ||||
29,531,003 |
See accompanying notes to portfolio of investments
6 | Allspring Factor Enhanced International Equity Portfolio
Portfolio of investments—May 31, 2023 (unaudited)
Shares | Value | |||||
Hong Kong: 2.10% | ||||||
AIA Group Ltd. (Financials, Insurance) | 255,600 | $2,451,399 | ||||
BOC Hong Kong Holdings Ltd. (Financials, Banks) | 22,000 | 65,322 | ||||
CK Asset Holdings Ltd. (Real estate, Real estate management & development) | 84,190 | 453,718 | ||||
CK Infrastructure Holdings Ltd. (Utilities, Electric utilities) | 68,000 | 376,019 | ||||
Galaxy Entertainment Group Ltd. (Consumer discretionary, Hotels, restaurants & leisure)† | 13,000 | 80,602 | ||||
Hang Lung Properties Ltd. (Real estate, Real estate management & development) | 156,000 | 247,036 | ||||
Henderson Land Development Co. Ltd. (Real estate, Real estate management & development) | 4,000 | 12,694 | ||||
HKT Trust & HKT Ltd. (Communication services, Diversified telecommunication services) | 97,000 | 123,876 | ||||
Hong Kong Exchanges & Clearing Ltd. (Financials, Capital markets) | 19,500 | 713,714 | ||||
Hongkong Land Holdings Ltd. (Real estate, Real estate management & development) | 35,635 | 152,874 | ||||
Jardine Matheson Holdings Ltd. (Industrials, Industrial conglomerates) | 8,648 | 415,191 | ||||
Link REIT (Real estate, Retail REITs) | 58,000 | 337,018 | ||||
MTR Corp. Ltd. (Industrials, Ground transportation) | 60,000 | 276,229 | ||||
New World Development Co. Ltd. (Real estate, Real estate management & development) | 29,000 | 69,255 | ||||
Power Assets Holdings Ltd. (Utilities, Electric utilities) | 60,500 | 325,661 | ||||
Sino Land Co. Ltd. (Real estate, Real estate management & development) | 251,899 | 327,482 | ||||
Sun Hung Kai Properties Ltd. (Real estate, Real estate management & development) | 49,000 | 623,885 | ||||
Swire Pacific Ltd. Class A (Real estate, Real estate management & development) | 69,478 | 464,047 | ||||
Swire Properties Ltd. (Real estate, Real estate management & development) | 118,800 | 283,101 | ||||
Techtronic Industries Co. Ltd. (Industrials, Machinery) | 20,000 | 185,558 | ||||
WH Group Ltd. (Consumer staples, Food products)144A | 1,538,500 | 803,589 | ||||
8,788,270 | ||||||
Ireland: 0.54% | ||||||
AIB Group PLC (Financials, Banks) | 26,136 | 107,054 | ||||
Bank of Ireland Group PLC (Financials, Banks) | 58,921 | 553,852 | ||||
CRH PLC (Materials, Construction materials) | 15,084 | 711,037 | ||||
DCC plc (Industrials, Industrial conglomerates) | 3,997 | 228,566 | ||||
Flutter Entertainment PLC (Consumer discretionary, Hotels, restaurants & leisure)† | 1,534 | 299,490 | ||||
Smurfit Kappa Group PLC (Materials, Containers & packaging) | 10,002 | 355,266 | ||||
2,255,265 | ||||||
Isle of Man (U.K.): 0.06% | ||||||
Entain PLC (Consumer discretionary, Hotels, restaurants & leisure) | 13,830 | 226,918 | ||||
Israel: 0.74% | ||||||
Bank Hapoalim BM (Financials, Banks) | 36,762 | 295,747 | ||||
Bank Leumi Le-Israel BM (Financials, Banks) | 22,620 | 158,517 | ||||
Bezeq The Israeli Telecommunication Corp. Ltd. (Communication services, Diversified telecommunication services) | 310,924 | 389,118 | ||||
Check Point Software Technologies Ltd. (Information technology, Software)† | 6,661 | 831,359 | ||||
Elbit Systems Ltd. (Industrials, Aerospace & defense) | 57 | 11,644 | ||||
ICL Group Ltd. (Materials, Chemicals) | 62,903 | 342,536 | ||||
Israel Discount Bank Ltd. Class A (Financials, Banks) | 27,306 | 131,497 | ||||
Mizrahi Tefahot Bank Ltd. (Financials, Banks) | 2,988 | 95,849 |
See accompanying notes to portfolio of investments
Allspring Factor Enhanced International Equity Portfolio | 7
Portfolio of investments—May 31, 2023 (unaudited)
Shares | Value | |||||
Israel (continued) | ||||||
Nice Ltd. (Information technology, Software)† | 2,362 | $475,116 | ||||
Tower Semiconductor Ltd. (Information technology, Semiconductors & semiconductor equipment)† | 3,430 | 141,923 | ||||
Wix.com Ltd. (Information technology, IT services)† | 2,859 | 217,913 | ||||
3,091,219 | ||||||
Italy: 1.76% | ||||||
Assicurazioni Generali SpA (Financials, Insurance) | 26,682 | 505,239 | ||||
ENEL SpA (Utilities, Electric utilities) | 176,929 | 1,107,862 | ||||
ENI SpA (Energy, Oil, gas & consumable fuels)† | 65,910 | 877,118 | ||||
FinecoBank Banca Fineco SpA (Financials, Banks) | 13,629 | 180,789 | ||||
Infrastrutture Wireless Italiane SpA (Communication services, Diversified telecommunication services)144A | 5,401 | 68,700 | ||||
Intesa Sanpaolo SpA (Financials, Banks) | 455,884 | 1,050,363 | ||||
Mediobanca Banca di Credito Finanziario SpA (Financials, Banks) | 28,585 | 314,559 | ||||
Moncler SpA (Consumer discretionary, Textiles, apparel & luxury goods) | 4,336 | 293,472 | ||||
Poste Italiane SpA (Financials, Insurance)144A | 44,683 | 463,097 | ||||
Prysmian SpA (Industrials, Electrical equipment) | 16,537 | 612,841 | ||||
Snam SpA (Utilities, Gas utilities) | 56,864 | 297,224 | ||||
Terna - Rete Elettrica Nazionale (Utilities, Electric utilities) | 46,648 | 390,520 | ||||
UniCredit SpA (Financials, Banks) | 63,775 | 1,221,181 | ||||
7,382,965 | ||||||
Japan: 19.11% | ||||||
Advantest Corp. (Information technology, Semiconductors & semiconductor equipment) | 8,500 | 1,092,661 | ||||
AGC, Inc. (Industrials, Building products) | 11,200 | 409,173 | ||||
Aisin Corp. (Consumer discretionary, Automobile components) | 4,900 | 141,030 | ||||
Ajinomoto Co., Inc. (Consumer staples, Food products) | 10,550 | 410,490 | ||||
Asahi Group Holdings Ltd. (Consumer staples, Beverages) | 12,100 | 469,757 | ||||
Asahi Intecc Co. Ltd. (Health care, Health care equipment & supplies) | 100 | 1,906 | ||||
Astellas Pharma, Inc. (Health care, Pharmaceuticals) | 52,900 | 838,161 | ||||
Azbil Corp. (Information technology, Electronic equipment, instruments & components) | 18,200 | 576,731 | ||||
Bandai Namco Holdings, Inc. (Consumer discretionary, Leisure products) | 1,600 | 37,564 | ||||
BayCurrent Consulting, Inc. (Industrials, Professional services) | 5,100 | 187,052 | ||||
Bridgestone Corp. (Consumer discretionary, Automobile components) | 10,500 | 427,913 | ||||
Canon, Inc. (Information technology, Technology hardware, storage & peripherals) | 17,400 | 432,237 | ||||
Capcom Co. Ltd. (Communication services, Entertainment) | 11,600 | 452,927 | ||||
Central Japan Railway Co. (Industrials, Ground transportation) | 1,500 | 182,864 | ||||
Chiba Bank Ltd. (Financials, Banks) | 5,400 | 33,758 | ||||
Chubu Electric Power Co., Inc. (Utilities, Electric utilities) | 44,800 | 534,738 | ||||
Chugai Pharmaceutical Co. Ltd. (Health care, Pharmaceuticals) | 10,900 | 293,770 | ||||
CyberAgent, Inc. (Communication services, Media) | 51,400 | 364,495 | ||||
Dai Nippon Printing Co. Ltd. (Industrials, Commercial services & supplies) | 17,800 | 507,841 | ||||
Daifuku Co. Ltd. (Industrials, Machinery) | 5,600 | 113,708 | ||||
Dai-ichi Life Holdings, Inc. (Financials, Insurance) | 35,400 | 608,400 | ||||
Daiichi Sankyo Co. Ltd. (Health care, Pharmaceuticals) | 37,900 | 1,234,997 | ||||
Daikin Industries Ltd. (Industrials, Building products) | 3,066 | 584,482 |
See accompanying notes to portfolio of investments
8 | Allspring Factor Enhanced International Equity Portfolio
Portfolio of investments—May 31, 2023 (unaudited)
Shares | Value | |||||
Japan (continued) | ||||||
Daito Trust Construction Co. Ltd. (Real estate, Real estate management & development) | 3,800 | $361,385 | ||||
Daiwa House Industry Co. Ltd. (Real estate, Real estate management & development) | 16,700 | 436,543 | ||||
Daiwa Securities Group, Inc. (Financials, Capital markets) | 14,100 | 64,061 | ||||
Denso Corp. (Consumer discretionary, Automobile components) | 200 | 12,361 | ||||
Disco Corp. (Information technology, Semiconductors & semiconductor equipment) | 3,300 | 482,003 | ||||
East Japan Railway Co. (Industrials, Ground transportation) | 500 | 27,590 | ||||
ENEOS Holdings, Inc. (Energy, Oil, gas & consumable fuels) | 87,200 | 290,281 | ||||
FANUC Corp. (Industrials, Machinery) | 11,500 | 396,031 | ||||
Fast Retailing Co. Ltd. (Consumer discretionary, Specialty retail) | 2,700 | 633,311 | ||||
Fuji Electric Co. Ltd. (Industrials, Electrical equipment) | 10,700 | 450,809 | ||||
Fujitsu Ltd. (Information technology, IT services) | 6,700 | 852,137 | ||||
Hakuhodo DY Holdings, Inc. (Communication services, Media) | 8,400 | 88,145 | ||||
Hamamatsu Photonics KK (Information technology, Electronic equipment, instruments & components) | 7,300 | 372,532 | ||||
Hankyu Hanshin Holdings, Inc. (Industrials, Ground transportation) | 11,700 | 372,435 | ||||
Hikari Tsushin, Inc. (Industrials, Industrial conglomerates) | 900 | 130,292 | ||||
Hirose Electric Co. Ltd. (Information technology, Electronic equipment, instruments & components) | 1,300 | 176,537 | ||||
Hitachi Construction Machinery Co. Ltd. (Industrials, Machinery) | 7,700 | 190,669 | ||||
Hitachi Ltd. (Industrials, Industrial conglomerates) | 19,000 | 1,097,247 | ||||
Honda Motor Co. Ltd. (Consumer discretionary, Automobiles) | 24,300 | 698,521 | ||||
Hoshizaki Corp. (Industrials, Machinery) | 1,900 | 68,459 | ||||
Hoya Corp. (Health care, Health care equipment & supplies) | 9,200 | 1,159,864 | ||||
Ibiden Co. Ltd. (Information technology, Electronic equipment, instruments & components) | 4,700 | 257,054 | ||||
Idemitsu Kosan Co. Ltd. (Energy, Oil, gas & consumable fuels) | 17,000 | 330,422 | ||||
Iida Group Holdings Co. Ltd. (Consumer discretionary, Household durables) | 29,200 | 482,877 | ||||
INPEX Corp. (Energy, Oil, gas & consumable fuels) | 32,600 | 346,298 | ||||
ITOCHU Corp. (Industrials, Trading companies & distributors) | 32,500 | 1,101,256 | ||||
Itochu Techno-Solutions Corp. (Information technology, IT services) | 4,000 | 104,217 | ||||
Japan Post Holdings Co. Ltd. (Financials, Insurance) | 86,500 | 611,227 | ||||
Japan Post Insurance Co. Ltd. (Financials, Insurance) | 24,000 | 361,227 | ||||
Japan Tobacco, Inc. (Consumer staples, Tobacco) | 23,200 | 506,212 | ||||
JFE Holdings, Inc. (Materials, Metals & mining) | 34,800 | 430,613 | ||||
Kajima Corp. (Industrials, Construction & engineering) | 27,600 | 387,282 | ||||
Kansai Electric Power Co., Inc. (Utilities, Electric utilities) | 49,800 | 570,470 | ||||
Kao Corp. (Consumer staples, Personal care products) | 14,000 | 490,063 | ||||
KDDI Corp. (Communication services, Wireless telecommunication services) | 38,900 | 1,198,061 | ||||
Keio Corp. (Industrials, Ground transportation) | 600 | 21,145 | ||||
Keisei Electric Railway Co. Ltd. (Industrials, Ground transportation) | 10,100 | 387,834 | ||||
Keyence Corp. (Information technology, Electronic equipment, instruments & components) | 3,800 | 1,849,201 | ||||
Kintetsu Group Holdings Co. Ltd. (Industrials, Ground transportation) | 24,600 | 814,850 | ||||
Kirin Holdings Co. Ltd. (Consumer staples, Beverages) | 37,600 | 561,200 | ||||
Kobayashi Pharmaceutical Co. Ltd. (Consumer staples, Personal care products) | 100 | 5,656 | ||||
Kobe Bussan Co. Ltd. (Consumer staples, Consumer staples distribution & retail) | 2,100 | 57,954 | ||||
Koei Tecmo Holdings Co. Ltd. (Communication services, Entertainment) | 14,200 | 239,206 | ||||
Komatsu Ltd. (Industrials, Machinery) | 22,400 | 529,272 |
See accompanying notes to portfolio of investments
Allspring Factor Enhanced International Equity Portfolio | 9
Portfolio of investments—May 31, 2023 (unaudited)
Shares | Value | |||||
Japan (continued) | ||||||
Konami Group Corp. (Communication services, Entertainment) | 4,700 | $249,295 | ||||
Kose Corp. (Consumer staples, Personal care products) | 1,300 | 130,630 | ||||
Kubota Corp. (Industrials, Machinery) | 800 | 11,065 | ||||
Kurita Water Industries Ltd. (Industrials, Machinery) | 3,700 | 151,638 | ||||
Kyocera Corp. (Information technology, Electronic equipment, instruments & components) | 3,100 | 176,355 | ||||
Lixil Corp. (Industrials, Building products) | 7,000 | 90,436 | ||||
M3, Inc. (Health care, Health care technology) | 13,000 | 289,998 | ||||
Marubeni Corp. (Industrials, Trading companies & distributors) | 55,600 | 794,941 | ||||
Mazda Motor Corp. (Consumer discretionary, Automobiles) | 76,400 | 654,740 | ||||
McDonald’s Holdings Co. Japan Ltd. (Consumer discretionary, Hotels, restaurants & leisure) | 6,800 | 279,663 | ||||
MEIJI Holdings Co. Ltd. (Consumer staples, Food products) | 9,400 | 210,838 | ||||
MinebeaMitsumi, Inc. (Industrials, Machinery) | 6,000 | 115,801 | ||||
Mitsubishi Chemical Group Corp. (Materials, Chemicals) | 54,800 | 308,091 | ||||
Mitsubishi Corp. (Industrials, Trading companies & distributors) | 30,000 | 1,202,799 | ||||
Mitsubishi Electric Corp. (Industrials, Electrical equipment) | 64,800 | 846,016 | ||||
Mitsubishi HC Capital, Inc. (Financials, Financial services) | 15,000 | 81,500 | ||||
Mitsubishi Heavy Industries Ltd. (Industrials, Machinery) | 16,900 | 716,393 | ||||
Mitsubishi UFJ Financial Group, Inc. (Financials, Banks) | 233,800 | 1,564,820 | ||||
Mitsui & Co. Ltd. (Industrials, Trading companies & distributors) | 36,900 | 1,166,392 | ||||
Mitsui Chemicals, Inc. (Materials, Chemicals) | 11,000 | 278,306 | ||||
Mitsui Fudosan Co. Ltd. (Real estate, Real estate management & development) | 5,400 | 103,194 | ||||
Mitsui OSK Lines Ltd. (Industrials, Marine transportation) | 3,600 | 82,038 | ||||
Mizuho Financial Group, Inc. (Financials, Banks) | 47,470 | 699,486 | ||||
MS&AD Insurance Group Holdings, Inc. (Financials, Insurance) | 8,400 | 289,275 | ||||
Murata Manufacturing Co. Ltd. (Information technology, Electronic equipment, instruments & components) | 11,900 | 700,291 | ||||
NEC Corp. (Information technology, IT services) | 8,300 | 390,203 | ||||
Nexon Co. Ltd. (Communication services, Entertainment) | 12,900 | 263,509 | ||||
NGK Insulators Ltd. (Industrials, Machinery) | 22,400 | 270,585 | ||||
Nidec Corp. (Industrials, Electrical equipment) | 500 | 24,906 | ||||
Nintendo Co. Ltd. (Communication services, Entertainment) | 25,800 | 1,099,220 | ||||
NIPPON EXPRESS HOLDINGS, Inc. (Industrials, Air freight & logistics) | 700 | 39,340 | ||||
Nippon Steel Corp. (Materials, Metals & mining) | 37,100 | 723,094 | ||||
Nippon Telegraph & Telephone Corp. (Communication services, Diversified telecommunication services) | 32,000 | 908,380 | ||||
Nippon Yusen KK (Industrials, Marine transportation) | 9,300 | 198,416 | ||||
Nissan Chemical Corp. (Materials, Chemicals) | 600 | 26,097 | ||||
Nissan Motor Co. Ltd. (Consumer discretionary, Automobiles) | 22,400 | 84,069 | ||||
Nissin Foods Holdings Co. Ltd. (Consumer staples, Food products) | 3,000 | 256,020 | ||||
Nitori Holdings Co. Ltd. (Consumer discretionary, Specialty retail) | 100 | 12,198 | ||||
Nitto Denko Corp. (Materials, Chemicals) | 2,500 | 178,181 | ||||
Nomura Holdings, Inc. (Financials, Capital markets) | 143,500 | 503,653 | ||||
Nomura Real Estate Holdings, Inc. (Real estate, Real estate management & development) | 8,700 | 210,748 | ||||
NTT Data Corp. (Information technology, IT services) | 7,367 | 105,594 | ||||
Obayashi Corp. (Industrials, Construction & engineering) | 22,500 | 181,518 | ||||
Obic Co. Ltd. (Information technology, IT services) | 200 | 32,428 |
See accompanying notes to portfolio of investments
10 | Allspring Factor Enhanced International Equity Portfolio
Portfolio of investments—May 31, 2023 (unaudited)
Shares | Value | |||||
Japan (continued) | ||||||
Oji Holdings Corp. (Materials, Paper & forest products) | 54,600 | $210,445 | ||||
Olympus Corp. (Health care, Health care equipment & supplies) | 33,700 | 512,182 | ||||
Omron Corp. (Information technology, Electronic equipment, instruments & components) | 1,000 | 60,470 | ||||
Ono Pharmaceutical Co. Ltd. (Health care, Pharmaceuticals) | 27,400 | 512,994 | ||||
Open House Group Co. Ltd. (Consumer discretionary, Household durables) | 12,600 | 484,737 | ||||
Oracle Corp. Japan (Information technology, Software)† | 15,200 | 1,165,161 | ||||
Oriental Land Co. Ltd. (Consumer discretionary, Hotels, restaurants & leisure) | 6,700 | 251,361 | ||||
ORIX Corp. (Financials, Financial services) | 46,700 | 796,238 | ||||
Osaka Gas Co. Ltd. (Utilities, Gas utilities) | 8,300 | 131,597 | ||||
Otsuka Corp. (Information technology, IT services) | 16,500 | 622,932 | ||||
Otsuka Holdings Co. Ltd. (Health care, Pharmaceuticals) | 8,000 | 297,032 | ||||
Pan Pacific International Holdings Corp. (Consumer discretionary, Broadline retail) | 38,700 | 660,810 | ||||
Panasonic Holdings Corp. (Consumer discretionary, Household durables) | 16,500 | 172,964 | ||||
Persol Holdings Co. Ltd. (Industrials, Professional services) | 29,700 | 561,918 | ||||
Recruit Holdings Co. Ltd. (Industrials, Professional services) | 29,200 | 899,106 | ||||
Renesas Electronics Corp. (Information technology, Semiconductors & semiconductor equipment)† | 27,900 | 458,575 | ||||
Resona Holdings, Inc. (Financials, Banks) | 13,400 | 60,929 | ||||
Ricoh Co. Ltd. (Information technology, Technology hardware, storage & peripherals) | 55,800 | 466,986 | ||||
Rohm Co. Ltd. (Information technology, Semiconductors & semiconductor equipment) | 5,700 | 483,165 | ||||
SCSK Corp. (Information technology, IT services) | 17,800 | 282,092 | ||||
Seiko Epson Corp. (Information technology, Technology hardware, storage & peripherals) | 18,600 | 282,888 | ||||
Sekisui Chemical Co. Ltd. (Consumer discretionary, Household durables) | 11,300 | 156,128 | ||||
Sekisui House Ltd. (Consumer discretionary, Household durables) | 18,800 | 367,499 | ||||
Seven & i Holdings Co. Ltd. (Consumer staples, Consumer staples distribution & retail) | 6,300 | 264,299 | ||||
SG Holdings Co. Ltd. (Industrials, Air freight & logistics) | 1,800 | 26,459 | ||||
Shimadzu Corp. (Information technology, Electronic equipment, instruments & components) | 3,300 | 102,322 | ||||
Shin-Etsu Chemical Co. Ltd. (Materials, Chemicals) | 37,200 | 1,147,306 | ||||
Shiseido Co. Ltd. (Consumer staples, Personal care products) | 12,000 | 546,492 | ||||
Shizuoka Financial Group, Inc. (Financials, Banks) | 6,300 | 46,394 | ||||
SMC Corp. (Industrials, Machinery) | 600 | 323,330 | ||||
SoftBank Corp. (Communication services, Wireless telecommunication services) | 76,400 | 814,586 | ||||
SoftBank Group Corp. (Communication services, Wireless telecommunication services) | 14,400 | 565,871 | ||||
Sompo Holdings, Inc. (Financials, Insurance) | 3,700 | 151,107 | ||||
Sony Group Corp. (Consumer discretionary, Household durables) | 20,300 | 1,917,445 | ||||
Square Enix Holdings Co. Ltd. (Communication services, Entertainment) | 15,200 | 681,859 | ||||
Subaru Corp. (Consumer discretionary, Automobiles) | 19,000 | 327,156 | ||||
SUMCO Corp. (Information technology, Semiconductors & semiconductor equipment) | 17,533 | 250,552 | ||||
Sumitomo Corp. (Industrials, Trading companies & distributors) | 29,300 | 554,455 | ||||
Sumitomo Electric Industries Ltd. (Consumer discretionary, Automobile components) | 14,900 | 176,886 | ||||
Sumitomo Metal Mining Co. Ltd. (Materials, Metals & mining) | 1,200 | 36,433 | ||||
Sumitomo Mitsui Financial Group, Inc. (Financials, Banks) | 30,300 | 1,234,835 | ||||
Sumitomo Mitsui Trust Holdings, Inc. (Financials, Banks) | 6,300 | 221,794 |
See accompanying notes to portfolio of investments
Allspring Factor Enhanced International Equity Portfolio | 11
Portfolio of investments—May 31, 2023 (unaudited)
Shares | Value | |||||
Japan (continued) | ||||||
Sumitomo Realty & Development Co. Ltd. (Real estate, Real estate management & development) | 7,400 | $178,938 | ||||
Suntory Beverage & Food Ltd. (Consumer staples, Beverages) | 2,000 | 73,641 | ||||
Suzuki Motor Corp. (Consumer discretionary, Automobiles) | 10,500 | 346,822 | ||||
Sysmex Corp. (Health care, Health care equipment & supplies) | 3,800 | 248,988 | ||||
T&D Holdings, Inc. (Financials, Insurance) | 19,500 | 266,205 | ||||
Taisei Corp. (Industrials, Construction & engineering) | 14,100 | 448,832 | ||||
Takeda Pharmaceutical Co. Ltd. (Health care, Pharmaceuticals) | 38,800 | 1,231,185 | ||||
TDK Corp. (Information technology, Electronic equipment, instruments & components) | 8,900 | 341,116 | ||||
Terumo Corp. (Health care, Health care equipment & supplies) | 15,000 | 457,133 | ||||
TIS, Inc. (Information technology, IT services) | 22,700 | 637,050 | ||||
Tobu Railway Co. Ltd. (Industrials, Ground transportation) | 3,100 | 81,213 | ||||
Toho Co. Ltd. (Communication services, Entertainment) | 5,000 | 197,021 | ||||
Tokio Marine Holdings, Inc. (Financials, Insurance) | 34,900 | 787,551 | ||||
Tokyo Electron Ltd. (Information technology, Semiconductors & semiconductor equipment) | 11,000 | 1,524,960 | ||||
Tokyo Gas Co. Ltd. (Utilities, Gas utilities) | 22,600 | 481,603 | ||||
Tokyu Corp. (Industrials, Ground transportation) | 200 | 2,587 | ||||
TOPPAN, Inc. (Industrials, Commercial services & supplies) | 31,400 | 672,286 | ||||
Toray Industries, Inc. (Materials, Chemicals) | 64,500 | 341,284 | ||||
Tosoh Corp. (Materials, Chemicals) | 36,300 | 418,170 | ||||
TOTO Ltd. (Industrials, Building products) | 7,000 | 212,776 | ||||
Toyota Motor Corp. (Consumer discretionary, Automobiles) | 190,900 | 2,614,984 | ||||
Toyota Tsusho Corp. (Industrials, Trading companies & distributors) | 12,400 | 546,463 | ||||
Trend Micro, Inc. (Information technology, Software) | 3,500 | 166,804 | ||||
Unicharm Corp. (Consumer staples, Household products) | 2,600 | 99,073 | ||||
Welcia Holdings Co. Ltd. (Consumer staples, Consumer staples distribution & retail) | 6,500 | 137,535 | ||||
Yakult Honsha Co. Ltd. (Consumer staples, Food products) | 5,000 | 324,780 | ||||
Yamaha Motor Co. Ltd. (Consumer discretionary, Automobiles) | 17,000 | 419,738 | ||||
Yamato Holdings Co. Ltd. (Industrials, Air freight & logistics) | 20,500 | 375,643 | ||||
Yokogawa Electric Corp. (Information technology, Electronic equipment, instruments & components) | 16,900 | 319,259 | ||||
ZOZO, Inc. (Consumer discretionary, Specialty retail) | 8,400 | 171,467 | ||||
80,056,522 | ||||||
Luxembourg: 0.17% | ||||||
ArcelorMittal SA (Materials, Metals & mining) | 17,129 | 425,323 | ||||
Eurofins Scientific SE (Health care, Life sciences tools & services) | 4,167 | 274,551 | ||||
Tenaris SA (Energy, Energy equipment & services) | 2,301 | 28,703 | ||||
728,577 | ||||||
Netherlands: 4.91% | ||||||
ABN AMRO Bank NV (Financials, Banks)144A | 7,408 | 107,730 | ||||
Adyen NV (Financials, Financial services)144A† | 262 | 427,583 | ||||
Airbus SE (Industrials, Aerospace & defense) | 13,457 | 1,762,639 | ||||
Akzo Nobel NV (Materials, Chemicals) | 796 | 59,933 | ||||
ASM International NV (Information technology, Semiconductors & semiconductor equipment) | 911 | 394,766 |
See accompanying notes to portfolio of investments
12 | Allspring Factor Enhanced International Equity Portfolio
Portfolio of investments—May 31, 2023 (unaudited)
Shares | Value | |||||
Netherlands (continued) | ||||||
ASML Holding NV (Information technology, Semiconductors & semiconductor equipment) | 9,583 | $6,878,356 | ||||
CNH Industrial NV (Industrials, Machinery) | 24,963 | 318,861 | ||||
Exor NV (Financials, Financial services)† | 17,179 | 1,426,042 | ||||
EXOR NV (Financials, Financial services)† | 12,000 | 996,129 | ||||
Ferrari NV (Consumer discretionary, Automobiles) | 231 | 65,828 | ||||
Heineken Holding NV (Consumer staples, Beverages) | 4,065 | 345,651 | ||||
Heineken NV (Consumer staples, Beverages) | 5,460 | 551,404 | ||||
IMCD NV (Industrials, Trading companies & distributors) | 474 | 71,211 | ||||
JDE Peet’s NV (Consumer staples, Food products) | 6,382 | 185,414 | ||||
Koninklijke Ahold Delhaize NV (Consumer staples, Consumer staples distribution & retail) | 31,797 | 1,008,079 | ||||
Koninklijke KPN NV (Communication services, Diversified telecommunication services) | 150,831 | 518,817 | ||||
Koninklijke Philips NV (Health care, Health care equipment & supplies) | 9,074 | 171,152 | ||||
NN Group NV (Financials, Insurance) | 13,107 | 472,420 | ||||
OCI NV (Materials, Chemicals)† | 15,101 | 335,581 | ||||
Prosus NV (Consumer discretionary, Broadline retail)† | 16,535 | 1,088,205 | ||||
QIAGEN NV (Health care, Life sciences tools & services)† | 3,582 | 161,614 | ||||
Randstad NV (Industrials, Professional services) | 15,727 | 770,934 | ||||
Stellantis NV (Consumer discretionary, Automobiles) | 69,088 | 1,047,315 | ||||
STMicroelectronics NV (Information technology, Semiconductors & semiconductor equipment) | 13,040 | 565,832 | ||||
Universal Music Group NV (Communication services, Entertainment) | 8,101 | 160,194 | ||||
Wolters Kluwer NV (Industrials, Professional services) | 6,098 | 696,139 | ||||
20,587,829 | ||||||
New Zealand: 0.24% | ||||||
Auckland International Airport Ltd. (Industrials, Transportation infrastructure)† | 8,169 | 43,667 | ||||
Fisher & Paykel Healthcare Corp. Ltd. Class C (Health care, Health care equipment & supplies) | 23,888 | 334,515 | ||||
Meridian Energy Ltd. (Utilities, Independent power and renewable electricity producers) | 56,127 | 179,506 | ||||
Spark New Zealand Ltd. (Communication services, Diversified telecommunication services) | 144,514 | 449,130 | ||||
1,006,818 | ||||||
Norway: 0.65% | ||||||
DNB Bank ASA (Financials, Banks) | 10,986 | 183,889 | ||||
Equinor ASA (Energy, Oil, gas & consumable fuels) | 25,262 | 645,762 | ||||
Kongsberg Gruppen ASA (Industrials, Aerospace & defense) | 11,083 | 443,911 | ||||
Mowi ASA (Consumer staples, Food products) | 12,010 | 206,114 | ||||
Norsk Hydro ASA (Materials, Metals & mining) | 70,661 | 427,014 | ||||
Telenor ASA (Communication services, Diversified telecommunication services) | 19,134 | 196,508 | ||||
Yara International ASA (Materials, Chemicals) | 16,223 | 605,355 | ||||
2,708,553 | ||||||
Portugal: 0.17% | ||||||
EDP - Energias de Portugal SA (Utilities, Electric utilities) | 60,014 | 292,648 |
See accompanying notes to portfolio of investments
Allspring Factor Enhanced International Equity Portfolio | 13
Portfolio of investments—May 31, 2023 (unaudited)
Shares | Value | |||||
Portugal (continued) | ||||||
Galp Energia SGPS SA (Energy, Oil, gas & consumable fuels) | 21,140 | $223,615 | ||||
Jeronimo Martins SGPS SA (Consumer staples, Consumer staples distribution & retail) | 8,756 | 211,333 | ||||
727,596 | ||||||
Singapore: 1.53% | ||||||
CapitaLand Ascendas REIT (Real estate, Industrial REITs)† | 140,700 | 280,921 | ||||
CapitaLand Ascott Trust (Real estate, Hotel & resort REITs) | 7,012 | 5,496 | ||||
CapitaLand Integrated Commercial Trust (Real estate, Retail REITs) | 84,800 | 125,416 | ||||
Capitaland Investment Ltd. (Real estate, Real estate management & development) | 123,000 | 301,065 | ||||
City Developments Ltd. (Real estate, Real estate management & development) | 108,400 | 541,078 | ||||
DBS Group Holdings Ltd. (Financials, Banks) | 33,213 | 744,179 | ||||
Genting Singapore Ltd. (Consumer discretionary, Hotels, restaurants & leisure) | 671,624 | 501,620 | ||||
Jardine Cycle & Carriage Ltd. (Industrials, Industrial conglomerates) | 27,800 | 664,626 | ||||
Keppel Corp. Ltd. (Industrials, Industrial conglomerates) | 56,900 | 265,503 | ||||
Mapletree Logistics Trust (Real estate, Industrial REITs) | 71,500 | 87,769 | ||||
Oversea-Chinese Banking Corp. Ltd. (Financials, Banks) | 83,696 | 759,410 | ||||
Singapore Airlines Ltd. (Industrials, Passenger airlines)† | 8,300 | 39,343 | ||||
Singapore Exchange Ltd. (Financials, Capital markets) | 20,300 | 139,306 | ||||
Singapore Telecommunications Ltd. (Communication services, Diversified telecommunication services) | 200,500 | 369,182 | ||||
United Overseas Bank Ltd. (Financials, Banks) | 18,886 | 390,345 | ||||
UOL Group Ltd. (Real estate, Real estate management & development) | 46,573 | 218,693 | ||||
Venture Corp. Ltd. (Information technology, Electronic equipment, instruments & components) | 70,100 | 786,377 | ||||
Wilmar International Ltd. (Consumer staples, Food products) | 61,785 | 178,643 | ||||
6,398,972 | ||||||
Spain: 2.30% | ||||||
Acciona SA (Utilities, Electric utilities)† | 474 | 76,658 | ||||
ACS Actividades de Construccion y Servicios SA (Industrials, Construction & engineering)† | 11,863 | 394,613 | ||||
Aena SME SA (Industrials, Transportation infrastructure)144A | 3,309 | 517,108 | ||||
Amadeus IT Group SA (Consumer discretionary, Hotels, restaurants & leisure)† | 10,716 | 766,295 | ||||
Banco Bilbao Vizcaya Argentaria SA (Financials, Banks) | 205,639 | 1,345,222 | ||||
Banco Santander SA (Financials, Banks) | 412,345 | 1,342,101 | ||||
CaixaBank SA (Financials, Banks) | 91,486 | 335,124 | ||||
Corp. Acciona Energias Renovables SA (Utilities, Independent power and renewable electricity producers)† | 12,993 | 432,201 | ||||
Enagas SA (Utilities, Gas utilities) | 4,011 | 76,551 | ||||
Grifols SA (Health care, Biotechnology)† | 24,569 | 284,809 | ||||
Iberdrola SA (Utilities, Electric utilities) | 133,145 | 1,622,434 | ||||
Industria de Diseno Textil SA (Consumer discretionary, Specialty retail) | 29,246 | 978,159 | ||||
Naturgy Energy Group SA (Utilities, Gas utilities) | 4,394 | 125,027 | ||||
Red Electrica Corp. SA (Utilities, Electric utilities) | 12,853 | 217,688 | ||||
Repsol SA (Energy, Oil, gas & consumable fuels) | 58,108 | 788,197 | ||||
Telefonica SA (Communication services, Diversified telecommunication services) | 77,785 | 330,083 | ||||
9,632,270 |
See accompanying notes to portfolio of investments
14 | Allspring Factor Enhanced International Equity Portfolio
Portfolio of investments—May 31, 2023 (unaudited)
Shares | Value | |||||
Sweden: 3.00% | ||||||
Alfa Laval AB (Industrials, Machinery) | 3,457 | $124,176 | ||||
Assa Abloy AB Class B (Industrials, Building products) | 19,450 | 431,593 | ||||
Atlas Copco AB Class A (Industrials, Machinery) | 57,479 | 837,147 | ||||
Atlas Copco AB Class B (Industrials, Machinery) | 27,575 | 347,108 | ||||
Boliden AB (Materials, Metals & mining)† | 14,128 | 430,214 | ||||
Electrolux AB Class B (Consumer discretionary, Household durables)† | 13,098 | 172,479 | ||||
Epiroc AB Class A (Industrials, Machinery) | 14,610 | 255,801 | ||||
Epiroc AB Class B (Industrials, Machinery) | 9,209 | 139,088 | ||||
Essity AB Class B (Consumer staples, Household products) | 14,666 | 389,767 | ||||
Evolution AB (Consumer discretionary, Hotels, restaurants & leisure)144A | 6,533 | 858,240 | ||||
Fastighets AB Balder Class B (Real estate, Real estate management & development)† | 76,152 | 255,716 | ||||
Getinge AB Class B (Health care, Health care equipment & supplies) | 20,225 | 465,005 | ||||
H & M Hennes & Mauritz AB Class B (Consumer discretionary, Specialty retail) | 24,559 | 306,518 | ||||
Husqvarna AB Class B (Industrials, Machinery) | 40,008 | 295,310 | ||||
Industrivarden AB Class A (Financials, Financial services) | 18,445 | 496,318 | ||||
Industrivarden AB Class C (Financials, Financial services) | 5,824 | 155,692 | ||||
Indutrade AB (Industrials, Machinery) | 2,754 | 64,765 | ||||
Kinnevik AB Class B (Financials, Financial services)† | 28,475 | 408,686 | ||||
L E Lundbergforetagen AB Class B (Financials, Financial services) | 5,328 | 221,628 | ||||
Nibe Industrier AB Class B (Industrials, Building products) | 1,990 | 18,989 | ||||
Sandvik AB (Industrials, Machinery) | 14,489 | 254,550 | ||||
Securitas AB Class B (Industrials, Commercial services & supplies)† | 66,080 | 486,658 | ||||
Skandinaviska Enskilda Banken AB Class A (Financials, Banks) | 39,405 | 411,959 | ||||
Skanska AB Class B (Industrials, Construction & engineering) | 20,097 | 264,829 | ||||
SKF AB Class B (Industrials, Machinery) | 33,771 | 534,956 | ||||
Svenska Handelsbanken AB Class A (Financials, Banks) | 59,638 | 471,199 | ||||
Swedbank AB Class A (Financials, Banks) | 49,424 | 756,267 | ||||
Swedish Orphan Biovitrum AB (Health care, Biotechnology)† | 28,911 | 580,788 | ||||
Tele2 AB Class B (Communication services, Wireless telecommunication services) | 46,264 | 420,357 | ||||
Telefonaktiebolaget LM Ericsson Class B (Information technology, Communications equipment) | 75,665 | 391,301 | ||||
Volvo AB Class A (Industrials, Machinery) | 16,624 | 320,476 | ||||
Volvo AB Class B (Industrials, Machinery) | 54,620 | 1,007,911 | ||||
12,575,491 | ||||||
Switzerland: 9.15% | ||||||
ABB Ltd. (Industrials, Electrical equipment) | 44,513 | 1,625,586 | ||||
Adecco Group AG (Industrials, Professional services) | 13,669 | 407,631 | ||||
Alcon, Inc. (Health care, Health care equipment & supplies) | 10,488 | 813,705 | ||||
Bachem Holding AG (Health care, Life sciences tools & services) | 841 | 88,278 | ||||
Baloise Holding AG (Financials, Insurance) | 1,012 | 155,453 | ||||
BKW AG (Utilities, Electric utilities) | 1,673 | 299,974 | ||||
Chocoladefabriken Lindt & Spruengli AG (Consumer staples, Food products) | 14 | 167,401 | ||||
Chocoladefabriken Lindt & Spruengli AG (Consumer staples, Food products) | 1 | 120,999 | ||||
CIE Financiere Richemont SA Class A (Consumer discretionary, Textiles, apparel & luxury goods) | 12,425 | 1,972,038 | ||||
Clariant AG (Materials, Chemicals) | 20,244 | 291,851 | ||||
Coca-Cola HBC AG (Consumer staples, Beverages)† | 13,210 | 392,410 | ||||
DSM-Firmenich AG (Materials, Chemicals)† | 983 | 109,318 |
See accompanying notes to portfolio of investments
Allspring Factor Enhanced International Equity Portfolio | 15
Portfolio of investments—May 31, 2023 (unaudited)
Shares | Value | |||||
Switzerland (continued) | ||||||
Geberit AG (Industrials, Building products) | 871 | $461,346 | ||||
Holcim AG (Materials, Construction materials) | 13,935 | 858,974 | ||||
Julius Baer Group Ltd. (Financials, Capital markets) | 11,667 | 712,766 | ||||
Kuehne & Nagel International AG (Industrials, Marine transportation) | 98 | 27,880 | ||||
Logitech International SA (Information technology, Technology hardware, storage & peripherals)† | 4,396 | 281,692 | ||||
Lonza Group AG (Health care, Life sciences tools & services) | 1,868 | 1,167,872 | ||||
Nestle SA (Consumer staples, Food products) | 62,775 | 7,437,192 | ||||
Novartis AG (Health care, Pharmaceuticals) | 55,567 | 5,317,837 | ||||
Partners Group Holding AG (Financials, Capital markets) | 804 | 724,593 | ||||
Roche Holding AG (Health care, Pharmaceuticals) | 1,672 | 563,606 | ||||
Roche Holding AG (Health care, Pharmaceuticals) | 16,593 | 5,250,730 | ||||
Schindler Holding AG (Industrials, Machinery) | 2,670 | 552,909 | ||||
Schindler Holding AG (Industrials, Machinery) | 1,657 | 332,219 | ||||
SGS SA (Industrials, Professional services) | 2,537 | 225,189 | ||||
Siemens Energy AG (Industrials, Electrical equipment)† | 2,798 | 71,001 | ||||
Sika AG (Materials, Chemicals) | 2,356 | 642,581 | ||||
Sonova Holding AG (Health care, Health care equipment & supplies) | 2,383 | 610,697 | ||||
Straumann Holding AG (Health care, Health care equipment & supplies) | 2,754 | 402,479 | ||||
Swatch Group AG (Consumer discretionary, Textiles, apparel & luxury goods) | 1,739 | 516,688 | ||||
Swatch Group AG (Consumer discretionary, Textiles, apparel & luxury goods) | 1,143 | 64,131 | ||||
Swiss Life Holding AG (Financials, Insurance) | 748 | 432,004 | ||||
Swiss Re AG (Financials, Insurance) | 7,484 | 749,592 | ||||
Swisscom AG (Communication services, Diversified telecommunication services) | 895 | 566,825 | ||||
Temenos AG (Information technology, Software) | 3,468 | 292,214 | ||||
UBS Group AG (Financials, Capital markets) | 98,156 | 1,858,039 | ||||
Zurich Insurance Group AG (Financials, Insurance) | 3,748 | 1,753,113 | ||||
38,318,813 | ||||||
United Kingdom: 12.32% | ||||||
3i Group PLC (Financials, Capital markets) | 48,719 | 1,185,111 | ||||
abrdn PLC (Financials, Capital markets) | 146,607 | 362,008 | ||||
Anglo American PLC (Materials, Metals & mining) | 30,385 | 840,425 | ||||
Ashtead Group PLC (Industrials, Trading companies & distributors) | 4,785 | 291,663 | ||||
Associated British Foods PLC (Consumer staples, Food products) | 10,748 | 244,069 | ||||
AstraZeneca PLC (Health care, Pharmaceuticals) | 32,623 | 4,731,788 | ||||
Auto Trader Group plc (Communication services, Interactive media & services)144A | 79,144 | 620,242 | ||||
Aviva PLC (Financials, Insurance) | 144,513 | 708,641 | ||||
BAE Systems PLC (Industrials, Aerospace & defense) | 109,549 | 1,264,890 | ||||
Barclays PLC (Financials, Banks) | 409,588 | 771,088 | ||||
Barratt Developments PLC (Consumer discretionary, Household durables) | 14,208 | 81,795 | ||||
BP PLC (Energy, Oil, gas & consumable fuels) | 412,958 | 2,328,598 | ||||
British American Tobacco PLC (Consumer staples, Tobacco) | 38,699 | 1,229,726 | ||||
British Land Co. PLC (Real estate, Diversified REITs) | 76,337 | 325,711 | ||||
BT Group PLC (Communication services, Diversified telecommunication services) | 319,866 | 584,312 | ||||
Bunzl PLC (Industrials, Trading companies & distributors) | 6,339 | 247,917 | ||||
Burberry Group PLC (Consumer discretionary, Textiles, apparel & luxury goods) | 19,477 | 521,880 | ||||
CK Hutchison Holdings Ltd. (Industrials, Industrial conglomerates) | 126,570 | 765,357 | ||||
Coca-Cola Europacific Partners PLC (Consumer staples, Beverages) | 3,393 | 211,689 |
See accompanying notes to portfolio of investments
16 | Allspring Factor Enhanced International Equity Portfolio
Portfolio of investments—May 31, 2023 (unaudited)
Shares | Value | |||||
United Kingdom (continued) | ||||||
Compass Group PLC (Consumer discretionary, Hotels, restaurants & leisure) | 55,701 | $1,525,749 | ||||
Diageo PLC (Consumer staples, Beverages) | 41,525 | 1,728,893 | ||||
Dowlais Group PLC (Consumer discretionary, Automobile components)† | 23,586 | 38,376 | ||||
GSK PLC (Health care, Pharmaceuticals) | 100,305 | 1,679,962 | ||||
Haleon PLC (Consumer staples, Personal care products) | 26,005 | 102,934 | ||||
Hargreaves Lansdown PLC (Financials, Capital markets) | 88,448 | 882,619 | ||||
Hikma Pharmaceuticals plc (Health care, Pharmaceuticals) | 10,587 | 235,935 | ||||
HSBC Holdings PLC (Financials, Banks)† | 449,603 | 3,302,569 | ||||
Imperial Brands PLC (Consumer staples, Tobacco) | 33,938 | 715,581 | ||||
InterContinental Hotels Group PLC (Consumer discretionary, Hotels, restaurants & leisure) | 6,008 | 393,712 | ||||
J Sainsbury plc (Consumer staples, Consumer staples distribution & retail) | 115,902 | 390,141 | ||||
Johnson Matthey PLC (Materials, Chemicals) | 49,060 | 1,055,787 | ||||
Kingfisher PLC (Consumer discretionary, Specialty retail) | 191,256 | 549,579 | ||||
Land Securities Group PLC (Real estate, Diversified REITs) | 16,810 | 125,883 | ||||
Lloyds Banking Group PLC (Financials, Banks) | 1,759,629 | 966,833 | ||||
London Stock Exchange Group PLC (Financials, Capital markets) | 3,320 | 353,108 | ||||
Melrose Industries PLC (Industrials, Aerospace & defense) | 23,586 | 138,367 | ||||
National Grid PLC (Utilities, Multi-utilities) | 73,018 | 1,004,588 | ||||
NatWest Group PLC (Financials, Banks) | 198,118 | 639,781 | ||||
Next PLC (Consumer discretionary, Broadline retail) | 7,907 | 624,187 | ||||
NMC Health PLC (Health care, Health care providers & services)† | 7,509 | 23 | ||||
Pearson PLC (Consumer discretionary, Diversified consumer services) | 41,818 | 415,220 | ||||
Persimmon PLC (Consumer discretionary, Household durables) | 6,310 | 94,310 | ||||
Prudential PLC (Financials, Insurance) | 5,928 | 77,871 | ||||
Reckitt Benckiser Group PLC (Consumer staples, Household products) | 15,637 | 1,214,950 | ||||
RELX PLC (Industrials, Professional services) | 36,115 | 1,127,624 | ||||
Rio Tinto PLC (Materials, Metals & mining) | 28,032 | 1,667,502 | ||||
Rolls-Royce Holdings PLC (Industrials, Aerospace & defense)† | 27,938 | 49,802 | ||||
Sage Group PLC (Information technology, Software) | 46,130 | 499,809 | ||||
Schroders PLC (Financials, Capital markets) | 69,787 | 395,513 | ||||
Severn Trent PLC (Utilities, Water utilities) | 259 | 8,934 | ||||
Shell PLC (Energy, Oil, gas & consumable fuels) | 172,307 | 4,759,447 | ||||
Smith & Nephew PLC (Health care, Health care equipment & supplies) | 37,512 | 560,890 | ||||
SSE PLC (Utilities, Electric utilities) | 22,849 | 534,779 | ||||
Standard Chartered PLC (Financials, Banks) | 70,513 | 555,760 | ||||
Taylor Wimpey PLC (Consumer discretionary, Household durables) | 122,523 | 174,055 | ||||
Tesco PLC (Consumer staples, Consumer staples distribution & retail) | 187,924 | 609,667 | ||||
Unilever PLC (Consumer staples, Personal care products) | 67,466 | 3,381,311 | ||||
United Utilities Group PLC (Utilities, Water utilities) | 27,239 | 343,075 | ||||
Vodafone Group PLC (Communication services, Wireless telecommunication services) | 779,650 | 740,671 | ||||
Whitbread PLC (Consumer discretionary, Hotels, restaurants & leisure) | 5,253 | 214,723 | ||||
WPP PLC (Communication services, Media) | 40,027 | 425,120 | ||||
51,622,550 | ||||||
United States: 0.09% | ||||||
Experian PLC (Industrials, Professional services) | 11,076 | 390,193 | ||||
Total common stocks (Cost $353,559,600) | 404,698,466 |
See accompanying notes to portfolio of investments
Allspring Factor Enhanced International Equity Portfolio | 17
Portfolio of investments—May 31, 2023 (unaudited)
Dividend rate | Shares | Value | ||||
Preferred stocks: 0.42% | ||||||
Germany: 0.42% | ||||||
Bayerische Motoren Werke AG (Consumer discretionary, Automobiles) | 8.52 % | 1,054 | $108,325 | |||
Henkel AG & Co. KGaA (Consumer staples, Household products) | 1.85 | 6,484 | 516,618 | |||
Sartorius AG (Health care, Life sciences tools & services) | 1.44 | 1,176 | 394,078 | |||
Volkswagen AG (Consumer discretionary, Automobiles) | 8.76 | 5,810 | 723,998 | |||
Total preferred stocks (Cost $1,912,965) | 1,743,019 |
Yield | ||||||
Short-term investments: 1.74% | ||||||
Investment companies: 1.74% | ||||||
Allspring Government Money Market Fund Select Class♠∞ | 5.01 | 7,277,676 | 7,277,676 | |||
Total short-term investments (Cost $7,277,676) | 7,277,676 | |||||
Total investments in securities (Cost $362,750,241) | 98.75 % | 413,719,161 | ||||
Other assets and liabilities, net | 1.25 | 5,250,883 | ||||
Total net assets | 100.00 % | $418,970,044 |
† | Non-income-earning security |
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. |
♠ | 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. |
Abbreviations: | |
AGC | Assured Guaranty Corporation |
REIT | Real estate investment trust |
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 | $14,960,264 | $16,172,275 | $(23,854,863 ) | $0 | $0 | $7,277,676 | 7,277,676 | $105,992 |
Futures contracts
Description | Number of contracts | Expiration date | Notional cost | Notional value | Unrealized gains | Unrealized losses |
Long | ||||||
MSCI EAFE Index | 88 | 6-16-2023 | $9,401,258 | $9,034,960 | $0 | $(366,298 ) |
See accompanying notes to portfolio of investments
18 | Allspring Factor Enhanced International Equity Portfolio
Notes to portfolio of investments—May 31, 2023 (unaudited)
Notes to portfolio of investments
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.
Equity securities and futures contracts that are listed on a foreign or domestic exchange or market are valued at the official closing price or, if none, the last sales price.
The values of securities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee at Allspring Funds Management, LLC (“Allspring Funds Management”).
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 any of the methods discussed above are valued at their fair value, as determined in good faith by 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.
Foreign currency translation
The accounting records of the Portfolio are maintained in U.S. dollars. The values of other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee. Purchases and sales of securities, and income and expenses are converted at the rate of exchange on the respective dates of such transactions. Net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the U.S. dollar equivalent of the amounts actually paid or received. Net unrealized foreign exchange gains and losses arise from changes in the fair value of assets and liabilities other than investments in securities resulting from changes in exchange rates. The changes in net assets arising from changes in exchange rates of securities and the changes in net assets resulting from changes in market prices of securities are not separately presented. Such changes are included in net realized and unrealized gains or losses from investments.
Futures contracts
Futures contracts are agreements between the Portfolio and a counterparty to buy or sell a specific amount of a commodity, financial instrument or currency at a specified price and on a specified date. The Portfolio may buy and sell futures contracts in order to gain exposure to, or protect against, changes in security values and is subject to equity price risk. The primary risks associated with the use of futures contracts are the imperfect correlation between changes in market values of securities held by the Portfolio and the prices of futures contracts, and the possibility of an illiquid market. Futures contracts are generally entered into on a regulated futures exchange and cleared through a clearinghouse associated with the exchange. With futures contracts, there is minimal counterparty risk to the Portfolio since futures contracts are exchange-traded and the exchange’s clearinghouse, as the counterparty to all exchange-traded futures, guarantees the futures contracts against default.
Upon entering into a futures contract, the Portfolio is required to deposit either cash or securities (initial margin) with the broker in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are paid to or received from the broker each day equal to the daily changes in the contract value. Such payments are recorded as unrealized gains or losses and, if any, shown as variation margin receivable (payable). Should the Portfolio fail to make requested variation margin payments, the broker can gain access to the initial margin to satisfy the Portfolio’s payment obligations. When the contracts are closed, a realized gain or loss is recorded.
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)
Allspring Factor Enhanced International Equity Portfolio | 19
Notes to portfolio of investments—May 31, 2023 (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 May 31, 2023:
Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total | |
Assets | ||||
Investments in: | ||||
Common stocks | ||||
Australia | $27,363,585 | $0 | $0 | $27,363,585 |
Austria | 537,836 | 0 | 0 | 537,836 |
Belgium | 3,575,776 | 0 | 0 | 3,575,776 |
Canada | 41,975,304 | 0 | 0 | 41,975,304 |
China | 436,201 | 0 | 0 | 436,201 |
Denmark | 11,804,249 | 0 | 0 | 11,804,249 |
Finland | 3,953,032 | 0 | 0 | 3,953,032 |
France | 39,022,659 | 0 | 0 | 39,022,659 |
Germany | 29,531,003 | 0 | 0 | 29,531,003 |
Hong Kong | 8,788,270 | 0 | 0 | 8,788,270 |
Ireland | 2,255,265 | 0 | 0 | 2,255,265 |
Isle of Man (U.K.) | 226,918 | 0 | 0 | 226,918 |
Israel | 3,091,219 | 0 | 0 | 3,091,219 |
Italy | 7,382,965 | 0 | 0 | 7,382,965 |
Japan | 80,056,522 | 0 | 0 | 80,056,522 |
Luxembourg | 728,577 | 0 | 0 | 728,577 |
Netherlands | 20,587,829 | 0 | 0 | 20,587,829 |
New Zealand | 1,006,818 | 0 | 0 | 1,006,818 |
Norway | 2,708,553 | 0 | 0 | 2,708,553 |
Portugal | 727,596 | 0 | 0 | 727,596 |
Singapore | 6,398,972 | 0 | 0 | 6,398,972 |
Spain | 9,632,270 | 0 | 0 | 9,632,270 |
Sweden | 12,575,491 | 0 | 0 | 12,575,491 |
Switzerland | 38,318,813 | 0 | 0 | 38,318,813 |
United Kingdom | 51,622,527 | 23 | 0 | 51,622,550 |
United States | 390,193 | 0 | 0 | 390,193 |
Preferred stocks | ||||
Germany | 1,743,019 | 0 | 0 | 1,743,019 |
Short-term investments | ||||
Investment companies | 7,277,676 | 0 | 0 | 7,277,676 |
Total assets | $413,719,138 | $23 | $0 | $413,719,161 |
Liabilities | ||||
Futures contracts | $366,298 | $0 | $0 | $366,298 |
Total liabilities | $366,298 | $0 | $0 | $366,298 |
Futures contracts are reported at their cumulative unrealized gains (losses) at measurement date as reported in the table following each Portfolio of Investments. All other assets and liabilities are reported at their market value at measurement date.
Additional sector, industry or geographic detail, if any, is included in the Portfolio of Investments.
As of May 31, 2023, $1,044,690 was segregated as cash collateral for these open futures contracts.
For the three months ended May 31, 2023, the Portfolio did not have any transfers into/out of Level 3.
20 | Allspring Factor Enhanced International Equity Portfolio