NPORT-EX 2 wbew.htm
Portfolio of investments—May 31, 2022 (unaudited)
          Value
Investment companies: 100.04%          
Affiliated master portfolios: 100.04%          
Allspring Bloomberg US Aggregate ex-Corporate Portfolio          $ 22,270,150
Allspring Emerging Markets Bond Portfolio            1,897,245
Allspring Factor Enhanced Emerging Markets Equity Portfolio            7,190,692
Allspring Factor Enhanced International Equity Portfolio           24,125,521
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio           40,360,165
Allspring Factor Enhanced U.S. Low Volatility Equity Portfolio              237,404
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio           10,098,985
Allspring High Yield Corporate Bond Portfolio            1,917,473
Allspring Investment Grade Corporate Bond Portfolio           11,626,956
Allspring Strategic Retirement Bond Portfolio              317,200
Allspring U.S. REIT Portfolio              230,127
Total Investment companies (Cost $112,541,108)         120,271,918
Total investments in securities (Cost $112,541,108) 100.04%       120,271,918
Other assets and liabilities, net (0.04)           (44,053)
Total net assets 100.00%       $120,227,865
Transactions with the affiliated Master Portfolios were as follows:
  % of
ownership,
beginning
of period 		% of
ownership,
end of
period 		Net realized
gains
(losses) on
securities
transactions
allocated
from
affiliated
Master
Portfolios 		  Net
change in
unrealized
gains
(losses) on
securities
transactions
allocated
from
affiliated
Master
Portfolios 		  Interest
allocated
from
affiliated
Master
Portfolios 		  Dividends
allocated
from
affiliated
Master
Portfolios 		  Affiliated
income
allocated
from
affiliated
Master
Portfolios 		  Value,
end of
period 		 
Allspring Bloomberg US Aggregate ex-Corporate Portfolio 6.26% 5.41% $(723,209)   $(998,542)   $97,054   $0   $2,689   $22,270,150  
Allspring Emerging Markets Bond Portfolio 8.21 7.51 (170,890)   9,259   32,190   0   30   1,897,245  
Allspring Factor Enhanced Emerging Markets Equity Portfolio 6.47 5.26 (379,830)   (233,633)   0   68,587   256   7,190,692  
Allspring Factor Enhanced International Equity Portfolio 5.50 4.44 81,839   (1,292,289)   0   423,134   524   24,125,521  
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio 8.16 6.80 2,830,087   (4,580,740)   0   176,828   1,301   40,360,165  
Allspring Factor Enhanced U.S. Low Volatility Equity Portfolio 1.43 1.33 5,178   (76)   0   1,157   7   237,404  
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio 8.12 6.71 263,621   (1,133,574)   0   53,686   362   10,098,985  
Allspring High Yield Corporate Bond Portfolio 8.22 7.54 (34,750)   (87,576)   30,573   0   18   1,917,473  
Allspring Investment Grade Corporate Bond Portfolio 8.26 7.51 (220,915)   (943,895)   110,656   0   94   11,626,956  
Allspring Strategic Retirement Bond Portfolio 0.76 0.67 (10,551)   (7,787)   6,158   0   2   317,200  
Allspring U.S. REIT Portfolio 1.43 1.36 30,776   (37,087)   0   2,439   2   230,127  
      $1,671,356   $(9,305,940)   $276,631   $725,831   $5,285   $120,271,918  
See accompanying notes to portfolio of investments
Allspring Target 2035 Fund  |  1
Notes to portfolio of investments—May 31, 2022 (unaudited)
The Fund is a fund-of-funds which seeks to achieve its investment objective by investing in multiple diversified portfolios (collectively, the “affiliated Master Portfolios”) of Allspring Master Trust, a registered open-end management investment company. Each affiliated Master Portfolio directly acquires portfolio securities and the Fund acquires an indirect interest in those securities.
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 Funds may deviate from this calculation time under unusual or unexpected circumstances.
Investments in the affiliated Master Portfolios are valued daily based on each Fund’s proportionate share of each affiliated Master Portfolio’s net assets, which are also valued daily.
Investments which are not valued using any of the methods discussed above are valued at their fair value, as determined in good faith by the Board of Trustees. The Board of Trustees has established a Valuation Committee comprised of the Trustees and has delegated to it the authority to take any actions regarding the valuation of portfolio securities that the Valuation Committee deems necessary or appropriate, including determining the fair value of portfolio securities, unless the determination has been delegated to the Allspring Global Investments Pricing Committee at Allspring Funds Management, LLC. The Board of Trustees retains the authority to make or ratify any valuation decisions or approve any changes to the Valuation Procedures as it deems appropriate. On a quarterly basis, the Board of Trustees receives reports on any valuation actions taken by the Valuation Committee or the Allspring Global Investments Pricing Committee which may include items for ratification.
Fair valuation measurements
At May 31, 2022, the affiliated Master Portfolios were measured at fair value using the net asset value per share (or its equivalent) as a practical expedient. The aggregate value of the affiliated Master Portfolios was $120,271,918. The investment objective of each affiliated Master Portfolio is as follows:
Affiliated Master Portfolio Investment objective
Allspring Bloomberg US Aggregate ex-Corporate Portfolio Seeks to replicate the total return of the Bloomberg U.S. Aggregate ex-Corporate Index, before fees and expenses
Allspring Emerging Markets Bond Portfolio Seeks to replicate the total return of the JP Morgan EMBI Global Diversified Index, before fees and expenses
Allspring Factor Enhanced Emerging Markets Equity Portfolio Seeks long-term capital appreciation
Allspring Factor Enhanced International Equity Portfolio Seeks long-term capital appreciation
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio Seeks long-term capital appreciation
Allspring Factor Enhanced U.S. Low Volatility Equity Portfolio Seeks long-term capital appreciation
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio Seeks long-term capital appreciation
Allspring High Yield Corporate Bond Portfolio Seeks to replicate the total return of the Bloomberg U.S. High Yield 2% Issuer Capped Bond Index, before fees and expenses
Allspring Investment Grade Corporate Bond Portfolio Seeks to replicate the total return of the Bloomberg U.S. Corporate Bond Index, before fees and expenses
Allspring Strategic Retirement Bond Portfolio Seeks to replicate the total return of a blended index that is weighted 50% to the Bloomberg U.S. Treasury inflation-Linked 1-10 Year Bond Index and 50% to the Bloomberg U.S. Government Intermediate Bond Index, before fees and expenses
Allspring U.S. REIT Portfolio Seeks to replicate the total return of the Dow Jones U.S. Select REIT Index, before fees and expenses
2  |  Allspring Target 2035 Fund