NPORT-EX 2 NPORT_WBCW_72712777_0324.htm EDGAR HTML
Portfolio of investments—March 31, 2024 (unaudited)
Portfolio of investments
 
 
 
 
 
 
Shares
Value
Common stocks:  97.10%
 
 
 
 
Communication services:  7.64%
 
 
 
 
Interactive media & services:  7.64%
 
 
 
 
Alphabet, Inc. Class C†
 
 
 
 
56,470
$8,598,123
Meta Platforms, Inc. Class A
 
 
 
 
12,473
6,056,639
 
 
 
 
 
 
14,654,762
Consumer discretionary:  10.31%
 
 
 
 
Broadline retail:  5.17%
 
 
 
 
Amazon.com, Inc.†
 
 
 
 
54,941
9,910,258
Hotels, restaurants & leisure:  1.03%
 
 
 
 
Starbucks Corp.
 
 
 
 
21,604
1,974,389
Specialty retail:  4.11%
 
 
 
 
Burlington Stores, Inc.†
 
 
 
 
17,644
4,096,760
Home Depot, Inc.
 
 
 
 
9,859
3,781,913
 
 
 
 
 
 
7,878,673
Consumer staples:  4.73%
 
 
 
 
Consumer staples distribution & retail:  3.37%
 
 
 
 
Dollar General Corp.
 
 
 
 
23,973
3,741,227
Sysco Corp.
 
 
 
 
33,512
2,720,504
 
 
 
 
 
 
6,461,731
Household products:  1.36%
 
 
 
 
Church & Dwight Co., Inc.
 
 
 
 
24,997
2,607,437
Financials:  10.42%
 
 
 
 
Capital markets:  5.14%
 
 
 
 
Charles Schwab Corp.
 
 
 
 
50,401
3,646,008
Intercontinental Exchange, Inc.
 
 
 
 
24,172
3,321,958
S&P Global, Inc.
 
 
 
 
6,792
2,889,657
 
 
 
 
 
 
9,857,623
Financial services:  3.80%
 
 
 
 
Mastercard, Inc. Class A
 
 
 
 
15,112
7,277,486
Insurance:  1.48%
 
 
 
 
Marsh & McLennan Cos., Inc.
 
 
 
 
13,827
2,848,085
Health care:  9.91%
 
 
 
 
Health care equipment & supplies:  3.23%
 
 
 
 
Align Technology, Inc.†
 
 
 
 
5,897
1,933,744
LivaNova PLC†
 
 
 
 
40,402
2,260,088
Medtronic PLC
 
 
 
 
22,943
1,999,483
 
 
 
 
 
 
6,193,315
Health care providers & services:  1.85%
 
 
 
 
UnitedHealth Group, Inc.
 
 
 
 
7,153
3,538,589
See accompanying notes to portfolio of investments
Allspring VT Opportunity Fund | 1
Portfolio of investments—March 31, 2024 (unaudited)
 
 
 
 
 
 
Shares
Value
Life sciences tools & services:  4.83%
 
 
 
 
Agilent Technologies, Inc.
 
 
 
 
22,559
$3,282,560
Bio-Rad Laboratories, Inc. Class A†
 
 
 
 
7,585
2,623,424
Thermo Fisher Scientific, Inc.
 
 
 
 
5,786
3,362,881
 
 
 
 
 
 
9,268,865
Industrials:  18.61%
 
 
 
 
Aerospace & defense:  4.13%
 
 
 
 
HEICO Corp. Class A
 
 
 
 
29,253
4,503,207
Melrose Industries PLC
 
 
 
 
401,955
3,414,313
 
 
 
 
 
 
7,917,520
Building products:  3.03%
 
 
 
 
AZEK Co., Inc.†
 
 
 
 
39,795
1,998,505
Carlisle Cos., Inc.
 
 
 
 
9,718
3,807,998
 
 
 
 
 
 
5,806,503
Commercial services & supplies:  1.87%
 
 
 
 
Republic Services, Inc.
 
 
 
 
18,755
3,590,457
Electrical equipment:  3.41%
 
 
 
 
Atkore, Inc.
 
 
 
 
9,302
1,770,729
Regal Rexnord Corp.
 
 
 
 
26,477
4,768,508
 
 
 
 
 
 
6,539,237
Machinery:  2.11%
 
 
 
 
Fortive Corp.
 
 
 
 
28,704
2,469,118
Ingersoll Rand, Inc.
 
 
 
 
16,482
1,564,966
 
 
 
 
 
 
4,034,084
Professional services:  2.37%
 
 
 
 
Dun & Bradstreet Holdings, Inc.
 
 
 
 
203,413
2,042,267
TransUnion
 
 
 
 
31,274
2,495,665
 
 
 
 
 
 
4,537,932
Trading companies & distributors:  1.69%
 
 
 
 
Air Lease Corp.
 
 
 
 
63,066
3,244,115
Information technology:  21.39%
 
 
 
 
Electronic equipment, instruments & components:  3.99%
 
 
 
 
Amphenol Corp. Class A
 
 
 
 
32,716
3,773,791
Teledyne Technologies, Inc.†
 
 
 
 
9,020
3,872,466
 
 
 
 
 
 
7,646,257
Semiconductors & semiconductor equipment:  4.73%
 
 
 
 
Marvell Technology, Inc.
 
 
 
 
55,660
3,945,181
Texas Instruments, Inc.
 
 
 
 
29,394
5,120,728
 
 
 
 
 
 
9,065,909
Software:  8.24%
 
 
 
 
Palo Alto Networks, Inc.†
 
 
 
 
6,231
1,770,414
See accompanying notes to portfolio of investments
2 | Allspring VT Opportunity Fund
Portfolio of investments—March 31, 2024 (unaudited)
 
 
 
 
 
 
Shares
Value
Software(continued)
 
 
 
 
Salesforce, Inc.
 
 
 
 
27,710
$8,345,698
ServiceNow, Inc.†
 
 
 
 
3,598
2,743,115
Workday, Inc. Class A†
 
 
 
 
10,807
2,947,609
 
 
 
 
 
 
15,806,836
Technology hardware, storage & peripherals:  4.43%
 
 
 
 
Apple, Inc.
 
 
 
 
49,497
8,487,746
Materials:  4.91%
 
 
 
 
Chemicals:  4.91%
 
 
 
 
Ashland, Inc.
 
 
 
 
34,786
3,387,113
Olin Corp.
 
 
 
 
60,118
3,534,938
Sherwin-Williams Co.
 
 
 
 
7,176
2,492,440
 
 
 
 
 
 
9,414,491
Real estate:  9.18%
 
 
 
 
Industrial REITs :  1.72%
 
 
 
 
Prologis, Inc.
 
 
 
 
25,293
3,293,654
Real estate management & development:  1.73%
 
 
 
 
CoStar Group, Inc.†
 
 
 
 
34,320
3,315,312
Residential REITs :  1.67%
 
 
 
 
Sun Communities, Inc.
 
 
 
 
24,954
3,208,585
Specialized REITs :  4.06%
 
 
 
 
American Tower Corp.
 
 
 
 
17,266
3,411,589
Equinix, Inc.
 
 
 
 
1,960
1,617,647
VICI Properties, Inc.
 
 
 
 
92,653
2,760,133
 
 
 
 
 
 
7,789,369
Total common stocks (Cost $121,868,208)
 
 
 
 
186,169,220
 
 
 
Yield
 
 
 
Short-term investments:  2.91%
 
 
 
 
 
 
Investment companies:  2.91%
 
 
 
 
Allspring Government Money Market Fund Select Class♠∞
 
5.25
%
 
 
5,591,150
5,591,150
Total short-term investments (Cost $5,591,150)
 
 
 
 
5,591,150
Total investments in securities (Cost $127,459,358)
100.01
%
 
 
 
 
191,760,370
Other assets and liabilities, net
(0.01
)
 
 
 
 
(27,089
)
Total net assets
100.00
%
 
 
 
$191,733,281
 
†
Non-income-earning security
♠
The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940.
∞
The rate represents the 7-day annualized yield at period end.
 
Abbreviations:
REIT
Real estate investment trust
See accompanying notes to portfolio of investments
Allspring VT Opportunity Fund | 3
Portfolio of investments—March 31, 2024 (unaudited)
 
 
Investments in affiliates
An affiliated investment is an investment in which the Fund owns at least 5% of the outstanding voting shares of the issuer or as a result of other relationships, such as the Fund and the issuer having the same investment manager. Transactions with issuers that were affiliates of the Fund 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
$6,246,648
$7,848,184
$(8,503,682
)
$0
$0
$5,591,150
5,591,150
$78,026
See accompanying notes to portfolio of investments
4 | Allspring VT Opportunity Fund
Notes to portfolio of investments—March 31, 2024 (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 Fund may deviate from this calculation time under unusual or unexpected circumstances.
Equity securities and exchange-traded funds 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”).
Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange and therefore may not fully reflect trading or events that occur after the close of the principal exchange in which the foreign securities are traded, but before the close of the New York Stock Exchange. If such trading or events are expected to materially affect the value of such securities, then fair value pricing procedures implemented by Allspring Funds Management are applied. These procedures take into account multiple factors including movements in U.S. securities markets after foreign exchanges close. Foreign securities that are fair valued under these procedures are categorized as Level 2 and the application of these procedures may result in transfers between Level 1 and Level 2. Depending on market activity, such fair valuations may be frequent. Such fair value pricing may result in net asset values that are higher or lower than net asset values based on the last reported sales price or latest quoted bid price. On March 31, 2024, such fair value pricing was not used in pricing foreign securities.
Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.
Investments which are not valued using the methods discussed above are valued at their fair value, as determined in good faith by Allspring Funds Management, 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 Fund 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.
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 Fund’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 Fund’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 Fund’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.
Allspring VT Opportunity Fund | 5
Notes to portfolio of investments—March 31, 2024 (unaudited)
The following is a summary of the inputs used in valuing the Fund’s assets and liabilities as of March 31, 2024: 
 
Quoted prices
(Level 1)
Other significant
observable inputs
(Level 2)
Significant
unobservable inputs
(Level 3)
Total
Assets
 
 
 
 
Investments in:
 
 
 
 
Common stocks
 
 
 
 
Communication services
$14,654,762
$0
$0
$14,654,762
Consumer discretionary
19,763,320
0
0
19,763,320
Consumer staples
9,069,168
0
0
9,069,168
Financials
19,983,194
0
0
19,983,194
Health care
19,000,769
0
0
19,000,769
Industrials
35,669,848
0
0
35,669,848
Information technology
41,006,748
0
0
41,006,748
Materials
9,414,491
0
0
9,414,491
Real estate
17,606,920
0
0
17,606,920
Short-term investments
 
 
 
 
Investment companies
5,591,150
0
0
5,591,150
Total assets
$191,760,370
$0
$0
$191,760,370
Additional sector, industry or geographic detail, if any, is included in the Portfolio of Investments.
At March 31, 2024, the Fund did not have any transfers into/out of Level 3.
6 | Allspring VT Opportunity Fund