Form N-Q

quoted prices in active markets for identical securities

other significant observable inputs (including quoted prices for similar

securities, interest rates, prepayment speeds, credit risk, etc.)

significant unobservable inputs (including the Fund’s own assumptions

in determining the fair value of investments)

N-Q 1 dnq.htm FORM N-Q Form N-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-09253

Wells Fargo Funds Trust

(Exact name of registrant as specified in charter)

525 Market Street, 12^th Floor, San Francisco, CA 94105

(Address of principal executive offices) (Zip code)

C. David Messman

Wells Fargo Funds Management, LLC

525 Market Street, 12^th Floor, San Francisco, CA 94105

(Name and address of agent for service)

Registrant’s telephone number, including area code: 800-643-9691

Date of fiscal year end: July 31, 2010 for all funds in this filing except Wells Fargo Advantage California Municipal Money Market Fund, Wells Fargo Advantage Minnesota Money Market Fund, Wells Fargo Advantage Municipal Cash Management Money Market Fund, Wells Fargo Advantage Municipal Money Market Fund, Wells Fargo Advantage National Tax-Free Money Market Fund, Wells Fargo Advantage New Jersey Municipal Money Market Fund, Wells Fargo Advantage New York Municipal Money Market Fund, Wells Fargo Advantage Pennsylvania Municipal Money Market Fund, Wells Fargo Advantage 100% Treasury Money Market Fund, Wells Fargo Advantage Cash Investment Money Market Fund, Wells Fargo Advantage Government Money Market Fund, Wells Fargo Advantage Heritage Money Market Fund, Wells Fargo Advantage Money Market Fund, Wells Fargo Advantage Prime Investment Money Market Fund, and Wells Fargo Advantage Treasury Plus Money Market Fund, which had fiscal year end of January 31, 2011.

Date of reporting period: April 30, 2011

ITEM 1.

SCHEDULE OF INVESTMENTS


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CALIFORNIA MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Municipal Bonds and Notes: 98.77%
California: 96.09%
Other Municipal Debt: 2.69%
Riverside County CA Teeter Financing (Miscellaneous Revenue)		0.27	%		08/03/2011	$	5,000,000	$	5,000,000
San Joaquin County CA Transportation Authority (Tax Revenue)		0.28			05/05/2011		38,000,000		38,000,000
Santa Clara County CA Teeter Plan Obligation Series A-1 (Tax Revenue)		0.27			05/02/2011		32,620,000		32,620,000
									75,620,000

Variable Rate Demand Notes§: 93.40%
ABAG Finance Authority for Nonprofit Corporation California Berkeleyan Project A (Housing Revenue, FNMA Insured)		0.26			05/15/2033		2,000,000		2,000,000
ABAG Finance Authority for Nonprofit Corporation California Branson School (Education Revenue, Northern Trust Company LOC)		0.28			07/01/2038		6,700,000		6,700,000
ABAG Finance Authority for Nonprofit Corporation California MFHR Acton Courtyard Series A (Housing Revenue, FHLMC Insured)		0.25			04/01/2037		1,300,000		1,300,000
ABAG Finance Authority for Nonprofit Corporation California MFHR Artech Building B (Housing Revenue, FHLMC Insured)		0.25			05/01/2029		3,200,000		3,200,000
ABAG Finance Authority for Nonprofit Corporation California MFHR Fine Arts Building Projects Series A (Housing Revenue, FNMA Insured)		0.26			07/15/2035		14,200,000		14,200,000
ABAG Finance Authority for Nonprofit Corporation California MFHR GAIA Building Project Series A (Housing Revenue, FNMA Insured)		0.26			09/15/2032		10,065,000		10,065,000
ABAG Finance Authority for Nonprofit Corporation California Oshman Family Jewish Community (Housing Revenue, La Salle National Bank NA LOC)		0.25			06/01/2037		4,600,000		4,600,000
ABAG Finance Authority for Nonprofit Corporation California Sharp Healthcare Series D (Hospital Revenue, CitiBank NA LOC)		0.24			08/01/2035		1,700,000		1,700,000
ABAG Finance Authority for Nonprofit Corporation California St. Anthony Foundation (Miscellaneous Revenue, Bank of America NA LOC)		0.35			03/01/2037		2,980,000		2,980,000
ABAG Finance Authority for Nonprofit Corporation California The Head-Royce School (Education Revenue, Bank of America NA LOC)		0.35			09/01/2036		11,300,000		11,300,000
ABAG Finance Authority for Nonprofit Corporations California Air Force Village West Incorporated (Health Revenue, KBC Bank NV LOC)		0.30			05/15/2035		10,390,000		10,390,000
ABAG Finance Authority for Nonprofit Corporations California Colma BART Apartments Series A (Housing Revenue, Bank of America NA LOC)		0.28			11/15/2035		10,110,000		10,110,000
ABAG Finance Authority for Nonprofit Corporations California Menlo School (Education Revenue, Northern Trust Company LOC)		0.26			09/01/2033		15,000,000		15,000,000
ABAG Finance Authority for Nonprofit Corporations California San Francisco University Series A (Education Revenue, Northern Trust Company LOC)		0.26			04/01/2035		1,515,000		1,515,000
ABAG Finance Authority for Nonprofit Corporations California Zoological Society of San Diego (Miscellaneous Revenue, Bank of America NA LOC)		0.26			10/01/2034		11,485,000		11,485,000
ABAG Finance Authority for Nonprofit Corporations California Jewish Community Center (Miscellaneous Revenue, Bank of America NA LOC)		0.27			06/01/2029		3,850,000		3,850,000
ABAG Finance Authority for Nonprofit Corporations San Francisco Friends School (Education Revenue, Bank of America NA LOC)		0.26			02/01/2038		3,870,000		3,870,000
ABAG Finance Authority For Nonprofit Corporations San Francisco High University Series A (Education Revenue, Northern Trust Company LOC)		0.26			04/01/2036		6,835,000		6,835,000
Alameda CA PFA MFHA Eagle Parrot Project Series A (Housing Revenue, FNMA Insured)		0.30			05/15/2035		1,565,000		1,565,000
Anaheim CA Housing Authority Cobblestone Apartments Series B (Housing Revenue, FNMA Insured)		0.26			03/15/2033		2,000,000		2,000,000
Anaheim CA Housing Authority MFHR Monterey Apartments Series B (Housing Revenue, FNMA Insured)		0.26			05/15/2027		1,895,000		1,895,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report and Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CALIFORNIA MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Anaheim CA Housing Authority Park Vista Apartments (Housing Revenue, FHLMC Insured)		0.25	%		07/01/2033	$	12,600,000	$	12,600,000
Anaheim CA Housing Authority Sea Wind Apartments Project Series C (Housing Revenue, FNMA Insured)		0.26			07/15/2033		6,000,000		6,000,000
Anaheim CA Redevelopment Agency Tax Allocation Merged Redevelopment Project Series A (Water & Sewer Revenue, FSA Insured)		0.26			07/01/2031		5,170,000		5,170,000
Arcadia County CA USD Series 2679 (GO-Local, FSA Insured)		0.26			08/01/2013		8,680,000		8,680,000
Austin Certificates Bank of America Series 2008-3312 (Miscellaneous Revenue)		0.32			08/01/2032		7,000,000		7,000,000
Azusa CA Public Financing Authority Parity Water Systems Project (Water & Sewer Revenue, FSA Insured)		0.26			02/01/2038		14,580,000		14,580,000
Bay Area Toll Authority California Toll Bridge (Transportation Revenue, Union Bank NA LOC)		0.20			04/01/2047		22,150,000		22,150,000
Bay Area Toll Authority California Toll Bridge (Transportation Revenue)		0.19			04/01/2045		15,550,000		15,550,000
Big Bear Lake CA Southwest Gas Corporation Project Series A (Utilities Revenue)		0.28			12/01/2028		36,430,000		36,430,000
Branch Banking &Trust Municipal Trust Floaters Series 2049 (GO - Local, Branch Banking & Trust LOC, FSA Insured)		0.28			02/01/2027		9,075,000		9,075,000
California Alternative Energy Source Financing Authority GE Capital Corporation Series A (Utilities Revenue)		0.27			10/01/2020		25,330,000		25,330,000
California CDA MHRB Glen Haven Apartments Series 2002 (Housing Revenue, FNMA Insured)		0.26			04/15/2035		5,800,000		5,800,000
California CDA MHRRB PUTTER Series 2680 (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		0.36			05/15/2018		21,700,000		21,700,000
California Coast Community College Capital Appreciation Election 2002 PUTTER DB-621 (GO - Local, FSA Insured)		0.26			08/01/2028		6,225,000		6,225,000
California Finance Authority Kehillah Jewish High School Series 2009 (Education Revenue, California Bank & Trust LOC)		0.24			08/01/2039		13,465,000		13,465,000
California HFA Home Mortgage Series H (Housing Revenue, FNMA LOC)		0.23			02/01/2036		4,900,000		4,900,000
California HFFA California Presbyterian Homes (Continuing Care Retirement Community, Allied Irish Bank plc LOC)		0.28			07/01/2034		8,275,000		8,275,000
California HFFA Childrens Hospital Series B (Hospital Revenue, Bank of America NA LOC)		0.25			07/01/2042		22,275,000		22,275,000
California Infrastructure & Economic Development Bank Haig Precision Corporation Project (IDR, Bank of the West LOC)		0.40			07/01/2030		1,480,000		1,480,000
California Infrastructure & Economic Development Bank California Academy Series A (Miscellaneous Revenue, U.S. Bank NA LOC)		0.22			09/01/2038		6,310,000		6,310,000
California Infrastructure & Economic Development Bank California Academy Series C (Miscellaneous Revenue, Bank of Nova Scotia LOC)		0.22			09/01/2038		8,715,000		8,715,000
California Infrastructure & Economic Development Bank California Academy Series C (Education Revenue, East West Bank LOC)		0.31			12/01/2040		4,940,000		4,940,000
California Infrastructure & Economic Development Bank J Paul Getty Project Series A2 (Miscellaneous Revenue)		0.20			10/01/2047		45,975,000		45,975,000
California Infrastructure & Economic Development Bank J Paul Getty Project Series B (Miscellaneous Revenue)		0.20			04/01/2033		4,200,000		4,200,000
California Infrastructure & Economic Development Bank J Paul Getty Trust Series B (Miscellaneous Revenue)		0.20			10/01/2023		5,000,000		5,000,000
California Infrastructure & Economic Development Bank J. Paul Getty-A-4-RMKT (Miscellaneous Revenue)		0.20			10/01/2047		9,500,000		9,500,000
California Infrastructure & Economic Development Bank Lycee Francias de Los Angeles Project (Education Revenue, U.S. Bank NA LOC)		0.27			09/01/2036		3,000,000		3,000,000
California Infrastructure & Economic Development Bank Orange County Performing Series A (Miscellaneous Revenue, Bank of America NA LOC)		0.25			07/01/2034		11,365,000		11,365,000
California Infrastructure & Economic Development Bank Rand Corporation Series B (Miscellaneous Revenue, Bank of America NA LOC)		0.25			04/01/2042		970,000		970,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CALIFORNIA MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
California Infrastructure & Economic Development Bank ROC RR II R-11527 (Transportation Revenue, AMBAC Insured)		0.24	%		07/01/2030	$	2,500,000	$	2,500,000
California Infrastructure & Economic Development Bank Society for the Blind Project (Miscellaneous Revenue, U.S. Bank NA LOC)		0.31			01/01/2037		2,185,000		2,185,000
California Infrastructure & Economic Development Bank The Bay Institute Aquarium Foundation (Miscellaneous Revenue)		0.21			06/01/2025		6,500,000		6,500,000
California Municipal Finance Authority Chevron USA Recovery Zone Project Series A (Miscellaneous Revenue)		0.15			11/01/2035		6,170,000		6,170,000
California Municipal Finance Authority Pacific Institute Series A (Health Revenue, California Bank & Trust LOC)		0.23			08/01/2037		19,540,000		19,540,000
California Municipal Finance Authority San Francisco Planning Project (Miscellaneous Revenue)		0.21			12/01/2042		6,935,000		6,935,000
California PCFA Musco Family Olive Series A (Resource Recovery Revenue, Bank of the West LOC)		0.26			11/01/2019		3,200,000		3,200,000
California PCFA Pacific Gas & Electric Series B (Utilities Revenue, JPMorgan Chase & Company LOC)		0.27			11/01/2026		300,000		300,000
California PCFA Pacific Gas & Electric Series C (IDR, JPMorgan Chase Bank LOC)		0.26			11/01/2026		15,150,000		15,150,000
California PCFA Solid Waste John & Ann M Verwey Project (Miscellaneous Revenue, Bank of America NA LOC)		0.31			05/01/2028		3,400,000		3,400,000
California PCFA Solid Waste Milk Time Dairy Farms Project (Miscellaneous Revenue, Bank of the West LOC)		0.31			11/01/2027		1,400,000		1,400,000
California PCFA Solid Waste Milk Time Dairy Farms Project (Miscellaneous Revenue, CoBank ACB LOC)		0.31			11/01/2027		6,000,000		6,000,000
California PCFA Solid Waste P&D Dairy & Poso Creek (Miscellaneous Revenue, Bank of the West LOC)		0.31			05/01/2028		3,000,000		3,000,000
California PCFA Wadham Energy Series B (Resource Recovery Revenue, BNP Paribas LOC)		0.28			11/01/2017		300,000		300,000
California PCFA Wadham Energy Series C (Resource Recovery Revenue, BNP Paribas LOC)		0.28			11/01/2017		14,000,000		14,000,000
California Refunding GO Branch Banking & Trust Company Municipal Trust Series 2000 (GO-State, Branch Banking & Trust LOC, FSA Insured)		0.41			07/10/2027		15,665,000		15,665,000
California Scripps Health Series F (Hospital Revenue, Northern Trust Company LOC)		0.21			10/01/2031		4,285,000		4,285,000
California State Department of Veterans Affairs ROC RR II R-1131 (Housing Revenue)		0.31			12/01/2014		7,480,000		7,480,000
California State DWR Series 3019 (Water & Sewer Revenue)		0.26			06/01/2016		4,885,000		4,885,000
California State Economic Recovery Revenue Series C-5 (GO - State, Bank of America NA LOC)		0.21			07/01/2023		900,000		900,000
California State EDFA Joseph Schmidt Project Series A (IDR, Bank of the West LOC)		0.29			12/01/2026		2,750,000		2,750,000
California State Enterprise Development Authority Pocino Foods Company Project Series A (IDR)		0.31			11/01/2033		7,665,000		7,665,000
California State Enterprise Development Authority Ramar International Corporation Project Series A (IDR, Bank of the West LOC)		0.31			11/01/2033		4,000,000		4,000,000
California State Kindergarten Series B-2 (GO - Local, CitiBank NA LOC)		0.22			05/01/2034		9,105,000		9,105,000
California State Series A Subseries A-1-1 (GO - State, Royal Bank of Canada LOC)		0.22			05/01/2040		20,000,000		20,000,000
California State Series A Subseries A-1-2 (GO - State, Barclays Bank plc LOC)		0.23			05/01/2040		10,000,000		10,000,000
California State Series A Subseries C-2 (GO - State)		0.24			05/01/2033		600,000		600,000
California State Series A-2-1 RMKT (GO - State, Royal Bank of Canada LOC)		0.22			05/01/2040		20,000,000		20,000,000
California State Series A2 (GO - State, Bank of Montreal LOC)		0.21			05/01/2033		34,650,000		34,650,000
California State Series A3 (GO - State, Bank of Montreal LOC)		0.20			05/01/2033		14,150,000		14,150,000
California State Series B Subseries B3 (GO - State, Barclays Bank plc LOC)		0.22			05/01/2040		12,475,000		12,475,000
California State Series B5 (GO - State, CitiBank NA LOC)		0.24			05/01/2034		14,400,000		14,400,000
California State Series C1 (GO - State, Bank of America NA LOC)		0.24			05/01/2033		8,450,000		8,450,000
California Statewide CDA (Health Revenue, FHLMC Insured) ††		0.26			11/15/2048		36,121,951		36,121,951
California Statewide CDA (Hospital Revenue, FSA Insured) ††		0.30			08/15/2032		12,825,000		12,825,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CALIFORNIA MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
California Statewide CDA (Housing Revenue, FHLMC Insured)		0.35	%		02/01/2050	$	14,000,000	$	14,000,000
California Statewide CDA (Health Revenue)		0.35			02/01/2053		10,400,000		10,400,000
California Statewide CDA Aegis Moraga Project C (Housing Revenue, FNMA Insured)		0.30			07/01/2027		7,255,000		7,255,000
California Statewide CDA Aegis Pleasant Hill Series H (Housing Revenue, FNMA Insured)		0.26			07/01/2027		6,270,000		6,270,000
California Statewide CDA Arbor Ridge Apartments Series B (Housing Revenue, FHLMC Insured)		0.33			11/01/2036		9,500,000		9,500,000
California Statewide CDA Belmont Project Series F (Housing Revenue, FNMA Insured)		0.25			06/15/2038		6,640,000		6,640,000
California Statewide CDA Charter Court Apartments Series L (Housing Revenue, FHLMC Insured)		0.27			09/01/2040		4,000,000		4,000,000
California Statewide CDA Gas Supply (Energy Revenue)		0.25			11/01/2040		59,425,000		59,425,000
California Statewide CDA Grande Apartments Series TT (Housing Revenue, FNMA Insured)		0.27			12/15/2034		1,925,000		1,925,000
California Statewide CDA Greenback Manor Apartments Series A (Housing Revenue, East West Bank LOC)		0.32			02/01/2028		4,660,000		4,660,000
California Statewide CDA Heritage Park Apartments Series C (Housing Revenue, FHLMC Insured)		0.25			01/01/2038		10,000,000		10,000,000
California Statewide CDA Horizons Indio Series F (Housing Revenue, CitiBank NA LOC)		0.27			07/01/2038		3,210,000		3,210,000
California Statewide CDA La Puente Apartments Series JJ (Housing Revenue, U.S. Bank NA LOC)		0.29			11/01/2031		6,775,000		6,775,000
California Statewide CDA Livermore Valley Arts Center Project (Miscellaneous Revenue, Bank of New York LOC)		0.21			12/01/2036		12,170,000		12,170,000
California Statewide CDA Marinears Pointe Series A (Housing Revenue, FNMA Insured)		0.24			02/15/2036		6,500,000		6,500,000
California Statewide CDA MFHR Canyon Country Apartments Series M (Housing Revenue, FHLMC Insured)		0.26			12/01/2034		10,500,000		10,500,000
California Statewide CDA MFHR Granite Oaks Apartments Series R (Housing Revenue, FNMA Insured)		0.27			10/15/2030		3,985,000		3,985,000
California Statewide CDA MFHR Imperial Park Apartments Series 00 (Housing Revenue, FHLMC Insured)		0.27			11/01/2040		10,935,000		10,935,000
California Statewide CDA Multifamily Housing Desert Palms Series A (Housing Revenue, FHLMC LOC)		0.26			08/01/2045		7,000,000		7,000,000
California Statewide CDA Multifamily Housing PUTTER Series 2681 (Housing Revenue, JPMorgan Chase Bank LOC)		0.46			05/15/2018		1,300,000		1,300,000
California Statewide CDA Multifamily Housing Seasons at Lakewood Series A (Housing Revenue, FNMA Insured)		0.27			05/15/2037		3,200,000		3,200,000
California Statewide CDA Oakmont Senior Living Series Y (Housing Revenue, FNMA Insured)		0.26			08/01/2031		7,840,000		7,840,000
California Statewide CDA Olympus Park Apartments Series Y (Housing Revenue, FNMA Insured)		0.26			10/15/2030		1,840,000		1,840,000
California Statewide CDA PCR Chevron USA Incorporated Project (Energy Revenue)		0.15			05/15/2024		5,145,000		5,145,000
California Statewide CDA Rady Children’s Hospital Series A (Hospital Revenue, U.S. Bank NA LOC)		0.22			08/15/2047		29,745,000		29,745,000
California Statewide CDA Seasons Senior Apartments Series B (Housing Revenue, FNMA Insured)		0.26			05/15/2037		5,265,000		5,265,000
California Statewide CDA Series 3108 (Hospital Revenue, AMBAC Insured) ††		0.26			08/15/2038		6,000,000		6,000,000
California Statewide CDA Sunrise of Danville Project Series A (Housing Revenue, FNMA Insured)		0.26			05/01/2027		5,665,000		5,665,000
California Statewide CDA Sweep Loan Program Series A (Hospital Revenue, CitiBank NA LOC)		0.24			08/01/2035		17,000,000		17,000,000
California Statewide CDA Tyrella Gardens Apartments Series B (Housing Revenue, CitiBank NA LOC)		0.30			06/01/2036		2,150,000		2,150,000
California Statewide CDA University Retirement Community Project (Health Revenue, Bank of America NA LOC)		0.27			11/15/2038		740,000		740,000
California Statewide CDA Villa Paseo Senior Project MM (Housing Revenue, East West Bank LOC)		0.27			11/01/2035		4,000,000		4,000,000
California Statewide CDA Village at Hesperia Series CCC (Housing Revenue, FNMA Insured)		0.27			11/15/2039		2,900,000		2,900,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CALIFORNIA MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
California Statewide CDA Village at Ninth Apartments Series D (Housing Revenue, FNMA Insured)		0.26	%		11/15/2035	$	4,375,000	$	4,375,000
California Statewide CDA Village at Shaw Apartments Series E (Housing Revenue, FNMA Insured)		0.27			11/15/2035		3,605,000		3,605,000
California Statewide University of San Francisco Series 2005B (Education Revenue, Bank of America NA LOC)		0.23			10/01/2035		4,538,000		4,538,000
Camarillo CA Hacienda De Camarillo Project (Housing Revenue, FNMA Insured)		0.25			10/15/2026		1,755,000		1,755,000
Central Basin CA Municipal Water Distribution Series B (Utilities Revenue, Allied Irish Bank plc LOC)		0.29			08/01/2037		10,800,000		10,800,000
Chino Basin CA Regional Financing Authority Inland Empire Utility Series B (Water & Sewer Revenue)		0.21			06/01/2032		7,680,000		7,680,000
Concord CA MFHR (Housing Revenue, FHLMC Insured)		0.26			12/01/2016		2,100,000		2,100,000
Contra Costa County CA Series B (Housing Revenue, FNMA Insured)		0.24			11/15/2022		1,300,000		1,300,000
Corona CA Household Bank Project B (Housing Revenue, FNMA Insured)		0.29			02/01/2023		11,000,000		11,000,000
Deutsche Bank Spears Lifers Trust DB-382 (GO - Local, NATL-RE Insured)		0.25			08/01/2030		3,740,000		3,740,000
Deutsche Bank Spears Lifers Trust DB-383 (Tax Revenue, FGIC Insured)		0.25			08/01/2035		11,575,000		11,575,000
Deutsche Bank Spears Lifers Trust DB-384 (Tax Revenue)		0.25			06/01/2032		16,725,000		16,725,000
Deutsche Bank Spears Lifers Trust Series 445 (GO - Local, FSA Insured)		0.26			08/01/2032		270,000		270,000
Deutsche Bank Spears Lifers Trust Series DB-287 (GO - Local, NATL-RE Insured)		0.25			09/01/2037		38,530,000		38,530,000
Deutsche Bank Spears Lifers Trust Series DB-448 (GO - Local, FSA Insured)		0.26			07/01/2032		9,290,000		9,290,000
Deutsche Bank Spears Lifers Trust Series DB-457 (GO - State, FSA Insured)		0.26			08/01/2032		3,983,000		3,983,000
Deutsche Bank Spears Lifers Trust Series DB-477 (GO - Local, FSA FGIC AMBAC Insured)		0.26			12/01/2024		10,210,000		10,210,000
Deutsche Bank Spears Lifers Trust Series DB-490 (Tax Revenue, FSA Insured)		0.26			02/01/2031		10,480,000		10,480,000
Deutsche Bank Spears Lifers Trust Series DB-490 (GO - Local, FSA Insured)		0.26			08/01/2042		16,386,000		16,386,000
Deutsche Bank Spears Lifers Trust Series DB-628 (GO - Local, FSA Insured)		0.26			08/01/2031		4,175,000		4,175,000
Deutsche Bank Spears Lifers Trust Series DB-629 (GO - Local, NATL-RE Insured)		0.26			08/01/2031		7,065,000		7,065,000
Deutsche Bank Spears Lifers Trust Series DB-630 (GO - Local, NATL-RE Insured)		0.26			02/01/2024		4,520,000		4,520,000
Deutsche Bank Spears Lifers Trust Series DB-632 (GO - Local, FSA-CR FGIC Insured)		0.26			08/01/2033		15,325,000		15,325,000
Deutsche Bank Spears Lifers Trust Series DB-670 (GO - Local, FSA Insured)		0.26			06/01/2028		9,161,000		9,161,000
Deutsche Bank Spears Lifers Trust Series DBE-247 (Tax Revenue, FGIC Insured)		0.25			12/01/2030		10,000,000		10,000,000
Deutsche Bank Spears Lifers Trust Series DBE-444 (GO - Local, FGIC Insured)		0.26			08/01/2032		3,155,000		3,155,000
Deutsche Bank Spears Lifers Trust Series DBE-500 (Water & Sewer Revenue, AMBAC Insured)		0.26			11/01/2038		2,690,000		2,690,000
Deutsche Bank Spears Lifers Trust Series DBE-575 (Tax Revenue, AMBAC Insured)		0.26			09/01/2029		1,025,000		1,025,000
Deutsche Bank Spears Lifers Trust Series DBE-625 (Tobacco Revenue, AMBAC Insured)		0.26			06/01/2028		7,165,000		7,165,000
Deutsche Bank Spears Lifers Trust Series DBE-637 (GO - Local)		0.26			08/01/2047		8,800,000		8,800,000
Deutsche Bank Spears Lifers Trust Series DBE-648 (GO - Local, FSA NATL-RE FGIC Insured)		0.26			09/01/2029		3,922,000		3,922,000
Deutsche Bank Spears/Lifers Trust DBE-675 (Tax Revenue, Assured Guaranty)		0.26			08/01/2048		7,827,000		7,827,000
East Bay CA Municipal Utilities District Water System Series A-1 (Water & Sewer Revenue)		0.20			06/01/2038		51,000,000		51,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CALIFORNIA MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
East Bay CA Municipal Utilities District Water System Series A-3 (Water & Sewer Revenue)		0.19	%		06/01/2038	$	10,000,000	$	10,000,000
Eastern Municipal Water District California Water & Sewer COP Series D (Water & Sewer Revenue)		0.21			07/01/2023		9,755,000		9,755,000
Eclipse Funding Trust 2006-0002 Solar Eclipse Los Angeles (GO - Local, U.S. Bank NA LOC)		0.24			07/01/2030		25,800,000		25,800,000
Eclipse Funding Trust 2007-0079 Solar Eclipse Los Angeles (GO - Local, U.S. Bank NA LOC)		0.24			08/01/2032		10,215,000		10,215,000
Eclipse Funding Trust California Educational Facilities 2006-0065 Solar Eclipse Pepperdine (Education Revenue, U.S. Bank NA LOC)		0.25			12/01/2013		2,180,000		2,180,000
El Dorado CA Irrigation District & El Dorado Water Agency Series A (Lease Revenue, CitiBank NA LOC)		0.25			03/01/2036		2,810,000		2,810,000
Elsinore Valley CA Municipal Water District COP Series B (Water & Sewer Revenue, U.S. Bank NA LOC)		0.28			07/01/2035		6,875,000		6,875,000
Financing Authority Municipal Trust Receipts SGC-49 Class A (Water & Sewer Revenue, Societe Generale LOC, FGIC Insured) ††		0.26			12/01/2035		10,000,000		10,000,000
Fremont CA Treetops Apartments Series A (Housing Revenue, FNMA Insured)		0.27			08/15/2026		9,800,000		9,800,000
Glendale CA Water Revenue (GO - Local, NATL-RE Insured)		0.26			09/01/2027		13,205,000		13,205,000
Golden State CA Tobacco Securitization Corporation Tobacco Settlement ROC RR II R-287X (Tobacco Revenue, CIFG-TCRS Insured)		0.24			06/01/2011		5,000,000		5,000,000
Golden State CA Tobacco Securitization Corporation Series 3123 (Miscellaneous Revenue) ††		0.33			06/01/2045		21,290,000		21,290,000
Golden State CA Tobacco Securitization Corporation Tobacco Settlement ROC RR II R-11442 (Tobacco Revenue, AGC-ICC Insured)		0.46			06/01/2035		6,255,000		6,255,000
Grossmont CA USD Capital Appreciation Election of 2004 (Tobacco Revenue, FGIC Insured)		0.26			06/01/2035		3,380,000		3,380,000
Grossmont Cuyamaca CA Community College District ROC RR II R-11519 (GO - Local, Assured Guaranty Insured)		0.26			02/01/2016		7,425,000		7,425,000
Hartnell CA Community College District Series 2966 (GO - Local, FSA Insured)		0.26			06/01/2014		4,800,000		4,800,000
Hayward CA Housing Authority MFHR Barrington Hills Series A (Housing Revenue, FNMA Insured)		0.24			06/15/2025		7,400,000		7,400,000
Hayward CA MFHR Shorewood Series A (Housing Revenue, FNMA Insured)		0.28			07/15/2014		4,000,000		4,000,000
Hemet CA MFHR Sunwest Retirement Series A (Housing Revenue, FHLMC Insured)		0.26			01/01/2025		1,000,000		1,000,000
Hemet CA USD Facilities Project (Lease Revenue, State Street Bank & Trust Company LOC)		0.23			10/01/2036		3,970,000		3,970,000
Highland CA RDA Jeffrey Court Senior Apartments (Housing Revenue, East West Bank LOC)		0.26			03/01/2028		6,620,000		6,620,000
Imperial CA Community College District Capital Appreciation Election of 2004 Project Series C (Education Revenue, FSA Insured) ††		0.29			08/01/2030		2,000,000		2,000,000
Irvine CA Improvement Board Act 1915 Assessment District No. 04-21-B (Tax Revenue, KBC Bank NV LOC)		0.27			09/02/2030		50,000		50,000
Irvine CA Improvement Board Act 1915 Assessment No. 07-22-A (Tax Revenue, KBC Bank NV LOC)		0.27			09/02/2032		3,200,000		3,200,000
Irvine CA Improvement Board Act 1915 District No. 93-14 (Tax Revenue)		0.23			09/02/2025		27,000,000		27,000,000
Irvine CA Improvement Board Act District No. 87-8 (Tax Revenue, KBC Bank NV LOC)		0.27			09/02/2024		4,776,000		4,776,000
Irvine Ranch CA Water District (Water & Sewer Revenue, Bank of America NA LOC)		0.24			04/01/2033		4,600,000		4,600,000
Kings County CA Housing Authority Edgewater LLSE Apartments Series A (Housing Revenue, FNMA Insured)		0.24			02/15/2031		8,700,000		8,700,000
Lancaster CA Redevelopment Agency MFHR 20th Street Apartments Project Series C (Housing Revenue, FNMA Insured)		0.25			12/01/2026		5,500,000		5,500,000
Lodi CA USD Election 2002 Project (Water & Sewer Revenue) ††		0.26			07/01/2017		3,935,000		3,935,000
Los Angeles CA Community College District Series 2864 (GO - Local, FSA Insured)		0.26			08/01/2014		4,780,000		4,780,000
Los Angeles CA Community RDA Second & Central Apartments Project (Housing Revenue, HSBC Bank USA NA LOC)		0.26			12/01/2038		26,665,000		26,665,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CALIFORNIA MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Los Angeles CA Community RDA Security Building Project Series A (Housing Revenue, FNMA Insured)		0.27	%		12/15/2034	$	6,290,000	$	6,290,000
Los Angeles CA COP Notre Dame High School Series 2006-A (Lease Revenue, Allied Irish Bank plc LOC)		0.28			09/01/2036		6,790,000		6,790,000
Los Angeles CA COP Samuel A Fryer Yavney Series A (Education Revenue, California Bank & Trust LOC)		0.24			08/01/2038		10,000,000		10,000,000
Los Angeles CA Department Water & Power Revenue System Subseries A-2 (Water & Sewer Revenue, AGM-CR AMBAC Insured) ††		0.26			01/01/2015		4,125,000		4,125,000
Los Angeles CA DW&P ROC RR II R-11531 (Water & Sewer Revenue, NATL-RE Insured)		0.26			01/01/2013		10,505,000		10,505,000
Los Angeles CA DW&P Subseries A4 (Utilities Revenue)		0.22			07/01/2035		19,400,000		19,400,000
Los Angeles CA Kadima Hebrew Academy Project Series A (Education Revenue, Bank of America NA LOC)		0.28			08/01/2035		5,355,000		5,355,000
Los Angeles CA Mission Village Terrace Apartments (Housing Revenue, East West Bank LOC)		0.27			07/01/2027		3,540,000		3,540,000
Los Angeles CA Power System Subseries A3 (Utilities Revenue)		0.22			07/01/2035		3,100,000		3,100,000
Los Angeles CA Power System Subseries A5 (Utilities Revenue)		0.22			07/01/2035		400,000		400,000
Los Angeles CA Power System Subseries A6 (Utilities Revenue)		0.22			07/01/2035		5,000,000		5,000,000
Los Angeles CA Waste Water System Series 2254 (Water & Sewer Revenue, NATL-RE Insured)		0.26			06/01/2013		5,785,000		5,785,000
Los Angeles CA Waste Water System Subseries G (Water & Sewer Revenue, Bank of America NA LOC)		0.24			06/01/2032		8,330,000		8,330,000
Los Angeles CA Water & Power Series 2971 (Utilities Revenue, FSA Insured)		0.26			01/01/2014		7,875,000		7,875,000
Los Angeles CA Watts Athens Apartments Series A (Housing Revenue, CitiBank (West) FSB LOC)		0.26			08/15/2030		4,300,000		4,300,000
Los Angeles County CA CDA MFHR Met Apartments Project (Housing Revenue, FNMA Insured)		0.24			12/15/2024		635,000		635,000
Los Angeles USD COP Administration Building Project Series A (Lease Revenue, Bank of America NA LOC)		0.24			10/01/2024		10,370,000		10,370,000
Los Rios CA Community College District Series 2972 (GO - Local, FSA Insured)		0.26			02/01/2013		5,065,000		5,065,000
Manteca CA RDA Amended Merger Project (Tax Revenue, State Street Bank & Trust Company LOC)		0.28			10/01/2042		10,590,000		10,590,000
Menlo Park CA CDA Las Pulgas Community Development (Tax Revenue, State Street Bank & Trust Company LOC)		0.28			01/01/2031		29,985,000		29,985,000
Metropolitan Water District Southern California Waterworks (Water & Sewer Revenue) ††		0.26			02/01/2015		12,515,000		12,515,000
Metropolitan Water District Southern California Waterworks Class A (Water & Sewer Revenue)		0.26			07/01/2037		29,800,000		29,800,000
Metropolitan Water District Southern California Waterworks Series C (Water & Sewer Revenue)		0.25			07/01/2027		11,900,000		11,900,000
Metropolitan Water District Southern California Waterworks Series C2 (Water & Sewer Revenue)		0.19			07/01/2036		18,800,000		18,800,000
Modesto County CA Multifamily Housing Shadowbrook Apartments Series A (Housing Revenue, FNMA Insured)		0.27			05/15/2031		700,000		700,000
Morgan Hill CA RDA Tax Allocation Ojo de Agua Redevelopment Project A (Tax Revenue, Scotia Bank LOC)		0.26			09/01/2033		70,915,000		70,915,000
Napa CA Water Utility Improvements (Water & Sewer Revenue, AMBAC Insured) ††		0.26			11/01/2015		10,585,000		10,585,000
Oakland CA Redevelopment Authority MFHR (Housing Revenue, FHLMC Insured)		0.35			10/01/2050		8,900,000		8,900,000
Oceanside CA Ace-Shadow Way (Housing Revenue, FHLMC LOC)		0.30			03/01/2049		1,050,000		1,050,000
Ontario County CA Multifamily Revenue (Housing Revenue, FHLMC Insured)		0.23			12/01/2035		6,500,000		6,500,000
Orange County CA Apartment Development Authority Project Class A (Housing Revenue, FNMA Insured)		0.26			12/15/2028		6,070,000		6,070,000
Orange County CA Apartment Development Revenue Park Place Apartments Project Series A (Housing Revenue, FHLMC Insured)		0.25			04/01/2024		14,900,000		14,900,000
Orange County CA Apartment Development Revenue Park Ridge Villas Project (Housing Revenue, FNMA Insured)		0.24			11/15/2028		4,000,000		4,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CALIFORNIA MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Orange County CA Apartment Development Revenue Series D Harbor Pointe Project (Housing Revenue, FHLMC Insured)		0.24	%		12/01/2022	$	9,449,000	$	9,449,000
Orange County CA Apartment Development Villas Aliento Series E Project (Housing Revenue, FNMA Insured)		0.23			08/15/2028		840,000		840,000
Orange County CA Apartment Development Villas La Paz Series F Project (Housing Revenue, FNMA Insured)		0.23			08/15/2028		8,780,000		8,780,000
Orange County CA COP Sanitation District Series 25297 (Water & Sewer Revenue, FSA Insured)		0.26			02/01/2015		1,075,000		1,075,000
Orange County CA COP Sanitation District Series A (Water & Sewer Revenue)		0.22			08/01/2029		23,900,000		23,900,000
Orange County CA COP Sanitation District Series B (Water & Sewer Revenue)		0.22			08/01/2030		20,700,000		20,700,000
Pasadena CA COP Series A (Lease Revenue, Bank of America NA LOC)		0.24			02/01/2035		5,000,000		5,000,000
Peralta CA Community College District Election 2000 Project Series D (GO - Local) ††		0.26			08/01/2015		31,870,000		31,870,000
Petaluma CA CDS MFHR Oakmont at Petaluma Series A (Housing Revenue, U.S. Bank NA LOC)		0.29			04/01/2026		500,000		500,000
Pittsburg CA Pubic Financing Authority (Water & Sewer Revenue) (Water & Sewer Revenue)		0.27			06/01/2035		6,000,000		6,000,000
Puttable Option Tax-Exempt Receipts PPT-1007 Class A (Housing Revenue, FHLMC Insured)		0.35			05/01/2027		6,420,000		6,420,000
Rancho CA Water District Financing Authority Series B (Water & Sewer Revenue, UBS AG LOC)		0.22			08/15/2031		7,000,000		7,000,000
RBC Municipal Products Incorporated Trust Floater Certificates Series E-17 (Tax Revenue) ††		0.27			03/01/2034		35,985,000		35,985,000
Riverside CA COP Riverside Renaissance Project Series 2008 (Lease Revenue)		0.24			03/01/2037		19,835,000		19,835,000
Riverside CA Electric Project PUTTER Series 3042Z (Utilities Revenue, FSA Insured) ††		0.27			04/01/2016		3,245,000		3,245,000
Riverside County CA IDA Cryogenic Project Issue B (IDR, Bank of America NA LOC)		0.26			07/05/2014		1,900,000		1,900,000
Sacramento CA Housing Authority Shenandoah Apartments Series F (Housing Revenue, FNMA Insured)		0.26			09/15/2036		7,000,000		7,000,000
Sacramento County CA Housing Authority (Housing Revenue, FNMA Insured)		0.24			07/15/2029		5,000,000		5,000,000
Sacramento County CA Housing Authority Arlington Creek Apartment Series I (Housing Revenue, FNMA Insured)		0.26			05/15/2034		8,350,000		8,350,000
Sacramento County CA Housing Authority Logan Park Apartments Series E (Housing Revenue, FHLMC Insured)		0.33			05/01/2042		10,000,000		10,000,000
Sacramento County CA Housing Authority MFHR Cascades Series D (Housing Revenue, FNMA Insured)		0.26			09/15/2035		6,535,000		6,535,000
Sacramento County CA Housing Authority MFHR Normandy Park Apartments Series A (Housing Revenue, FNMA Insured)		0.26			02/15/2033		6,000,000		6,000,000
Sacramento County CA Housing Authority Seasons at Winter Series C2 (Housing Revenue, FHLMC Insured)		0.24			08/01/2034		2,900,000		2,900,000
Sacramento County CA Housing Authority Shadowood Apartments Project Issue A (Housing Revenue, FHLMC Insured)		0.26			12/01/2022		6,555,000		6,555,000
Sacramento County CA Sanitation District Financing Authority Municipal Trust Receipts SGC-48 Class A (Water & Sewer Revenue, Societe Generale LOC, FGIC Insured)		0.26			12/01/2035		10,000,000		10,000,000
Sacramento County CA Sanitation District Financing Authority Subordinate Lien Sacramento District E (Water & Sewer Revenue, U.S. Bank NA LOC)		0.23			12/01/2040		5,000,000		5,000,000
Sacramento County CA Sanitation District Financing Authority Subordinate Lien Sacramento Regulation Series C (Water & Sewer Revenue, Bank of America NA LOC)		0.25			12/01/2030		11,520,000		11,520,000
San Bernardino CA RDA Silver Woods Apartments Project (Housing Revenue, FNMA Insured)		0.27			05/01/2026		7,000,000		7,000,000
San Bernardino County CA Flood Control District (Tax Revenue, UBS AG LOC)		0.21			08/01/2037		5,500,000		5,500,000
San Bernardino County CA MFHR Green Valley Apartments Project Series A (Housing Revenue, FNMA Insured)		0.24			05/15/2029		6,115,000		6,115,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CALIFORNIA MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
San Bernardino County CA MFHR Sycamore Terrace Project Series A (Housing Revenue, FNMA Insured)		0.24	%		05/15/2029	$	5,600,000	$	5,600,000
San Bernardino County CA Parkview Series A (Housing Revenue, FNMA Insured)		0.24			02/15/2027		1,500,000		1,500,000
San Diego County CA Burnham Institute (Miscellaneous Revenue, Bank of America NA LOC)		0.26			11/01/2030		4,725,000		4,725,000
San Diego County CA Regional Transportation Community Limited Tax Series A (Tax Revenue)		0.25			04/01/2038		4,600,000		4,600,000
San Diego County CA Regional Transportation Community Limited Tax Series B (Tax Revenue)		0.24			04/01/2038		3,925,000		3,925,000
San Diego County CA Water Authority COP Series 2873 (Water & Sewer Revenue, FSA Insured)		0.26			05/01/2013		1,545,000		1,545,000
San Francisco CA Bay Area Rapid Transit District (Tax Revenue) ††		0.25			08/01/2030		7,500,000		7,500,000
San Francisco CA Bay Area Rapid Transportation District Election of 2004 Series B (Education Revenue, AGM-CR FGIC Insured) ††		0.26			11/15/2015		4,700,000		4,700,000
San Francisco CA City & County Airports Commission Series 36-B (Airport Revenue, Union Bank NA LOC)		0.26			05/01/2026		12,700,000		12,700,000
San Francisco CA City & County Finance Corporation Moscone Center (Lease Revenue, State Street Bank & Trust Company LOC)		0.21			04/01/2030		33,835,000		33,835,000
San Francisco CA City & County MFHR Carter Terrace Apartments Series B (Housing Revenue, CitiBank NA LOC)		0.28			03/01/2036		4,535,000		4,535,000
San Francisco CA City & County RDA Community Facilities District # 4 (Tax Revenue, Bank of America NA LOC)		0.35			08/01/2031		2,385,000		2,385,000
San Francisco CA City & County RDA Community Facilities District Hunters Point Series A (Tax Revenue, JPMorgan Chase & Company LOC)		0.28			08/01/2036		9,250,000		9,250,000
San Francisco CA City & County RDA Fillmore Center Series B1 (Housing Revenue, FHLMC Insured)		0.27			12/01/2017		47,500,000		47,500,000
San Francisco CA City & County RDA MFHR Leland Polk Senior Community Series A (Housing Revenue, CitiBank NA LOC)		0.28			12/01/2019		2,690,000		2,690,000
San Francisco CA City & County RDA Notre Dame Apartments Series G (Housing Revenue, CitiBank NA LOC)		0.27			12/01/2033		13,140,000		13,140,000
San Francisco CA City & County RDA Orlando Cepeda Place Series D (Housing Revenue, CitiBank NA LOC)		0.30			11/01/2033		8,525,000		8,525,000
San Jose CA Cinnabar Commons Series C (Housing Revenue, FHLMC Insured)		0.25			02/01/2037		8,800,000		8,800,000
San Jose CA Financing Authority Civic Center Project Series B (Lease Revenue, AMBAC Insured) ††		0.26			12/01/2011		7,000,000		7,000,000
San Jose CA MFHR Raintree Apartments Series A (Housing Revenue, FHLMC Insured)		0.26			02/01/2038		10,600,000		10,600,000
San Jose CA Redevelopment Agency Merged Area Redevelopment Project Series A (Tax Revenue, JPMorgan Chase LOC)		0.24			07/01/2026		7,350,000		7,350,000
San Jose CA Turnleaf Apartments Series A (Housing Revenue, FHLMC Insured)		0.29			06/01/2036		4,230,000		4,230,000
San Leandro CA Carlton Plaza Series A (Housing Revenue, FNMA Insured)		0.27			09/15/2032		1,120,000		1,120,000
San Mateo County CA Community College District Capital Appreciation Election 2001 Series B (GO - Local, NATL-RE Insured)		0.26			06/01/2031		9,716,000		9,716,000
Santa Ana CA HCFR Multi-Model Town & Country Project BNP Paribas (Health Revenue, KBC Bank NV LOC)		0.28			10/01/2020		7,500,000		7,500,000
Santa Clara CA Subseries B (Utilities Revenue, Dexia Credit Local LOC)		0.65			07/01/2027		13,360,000		13,360,000
Santa Clara County CA Financing Authority Multiple Facilities Projects Series M (Lease Revenue, Bank of America NA LOC)		0.24			05/15/2035		10,725,000		10,725,000
Santa Clara County CA MFHR Benton Park Center Apartments Project Series A (Housing Revenue, FNMA Insured)		0.23			12/15/2025		5,900,000		5,900,000
Santa Rosa CA Alderbrook Heights Apartments (Housing Revenue, Exchange Bank LOC)		0.32			05/01/2040		3,120,000		3,120,000
Sequoia CA University High School District (GO - Local, FSA Insured)		0.26			07/01/2014		2,025,000		2,025,000
Simi Valley CA MFHA Series A (Housing Revenue, FHLMC Insured)		0.23			07/01/2023		695,000		695,000
Simi Valley CA Shadowridge Apartments Project (Housing Revenue, FHLMC Insured)		0.27			09/01/2019		5,700,000		5,700,000
Stockton CA HCFR Series A (Hospital Revenue, CitiBank NA LOC)		0.28			12/01/2032		5,750,000		5,750,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CALIFORNIA MUNICIPAL MONEY MARKET FUND


Security Name			Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Sweetwater CA Union High School District ROC RR II 11484 (GO - Local, FSA Insured)				0.41	%		02/01/2013	$	8,220,000	$	8,220,000
Tahoe Forest CA Hospital District Revenue (Hospital Revenue, U.S. Bank NA LOC)				0.28			07/01/2033		2,640,000		2,640,000
Upland CA Community RDA Sunset Ridge Apartments (Housing Revenue, East West Bank LOC)				0.23			08/01/2037		18,000,000		18,000,000
Vacaville CA MFHA Quail Run Project Series A (Housing Revenue, FNMA Insured)				0.29			07/15/2018		7,300,000		7,300,000
Vacaville CA MFHR Sycamore Apartments Series A (Housing Revenue, FNMA Insured)				0.25			05/15/2029		2,350,000		2,350,000
Vallejo CA Housing Authority Multifamily Mortgage Refunding A-Rmk-9/28/94 (Housing Revenue, FNMA Insured)				0.30			05/15/2022		885,000		885,000
Victorville CA Joint Powers Finance Authority Project A (Utilities Revenue, BNP Paribas LOC)				1.75			05/01/2040		1,990,000		1,990,000
Walnut Creek CA Creekside Drive (Housing Revenue, FHLMC Insured)				0.23			04/01/2027		3,620,000		3,620,000
Western Municipal Water District Facilities Authority (Water & Sewer Revenue)				0.19			10/01/2032		11,400,000		11,400,000
Whittier CA Health Facilities Presbyterian Intercommunity Project Series C (Hospital Revenue, U.S. Bank NA LOC)				0.22			06/01/2036		5,800,000		5,800,000
											2,627,804,951

Other: 0.47%
Variable Rate Demand Notes§: 0.47%
FHMLC Multifamily Certificates (Housing Revenue)				0.32			11/15/2034		10,352,182		10,352,182
FHMLC Multifamily Certificates (Housing Revenue)				0.32			08/15/2045		2,830,834		2,830,834
											13,183,016

Puerto Rico: 2.21%
Variable Rate Demand Notes§: 2.21%
Puerto Rico Commonwealth Highway & Transportation Authority Series 2148 (Tax Revenue, AGC-ICC CIFG Insured)				0.31			07/01/2041		26,760,000		26,760,000
Puerto Rico Commonwealth Highway & Transportation Authority Series A (Tax Revenue, Scotia Bank LOC)				0.22			07/01/2028		2,605,000		2,605,000
Puerto Rico Electric Power Authority Municipal Trust Receipts-SGC-57 Class A (Utilities Revenue, FSA Insured)				0.26			07/01/2029		10,780,000		10,780,000
Puerto Rico Sales Tax Finance Corporation Deutsche Bank Spears Trust Series DBE-627A (Tax Revenue, AMBAC Insured)				0.26			08/01/2050		7,486,000		7,486,000
Puerto Rico Sales Tax Financing Corporation ROC-RR-II-R11763 (Tax Revenue) ††				0.27			12/01/2047		12,750,000		12,750,000
Puerto Rico Sales Tax Financing Corporation Series 11829 (Tax Revenue, AGM Insured) ††				0.41			02/01/2034		1,900,000		1,900,000
											62,281,000

Total Investments in Securities (Cost $2,778,888,967)*	98.77	%									2,778,888,967
Other Assets and Liabilities, Net	1.23										34,665,338

Total Net Assets	100.00	%								$	2,813,554,305


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CALIFORNIA MUNICIPAL MONEY MARKET FUND

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

§	Variable rate demand notes are subject to demand features which reduce the effective maturity.

*	Cost for federal income tax purposes is substantially the same as for financial reporting purposes.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MINNESOTA MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Municipal Bonds and Notes: 99.68%
Minnesota: 99.68%
Other Municipal Debt: 2.30%
Rochester MN Health Care Series 01-C (Hospital Revenue)		0.27	%		05/02/2011	$	2,100,000		2,100,000

Variable Rate Demand Notes§: 97.38%
Andover MN Senior Housing Presbyterian Homes Incorporated Project (Health Revenue, FNMA Insured)		0.26	%		11/15/2033		1,710,000		1,710,000
Becker MN Plymouth Foam Project (IDR, U.S. Bank NA LOC)		0.44	%		05/01/2019		1,560,000		1,560,000
Bloomington MN Norlan Partners Series B (Housing Revenue, LaSalle Bank NA LOC)		0.36	%		07/15/2032		1,000,000		1,000,000
Bloomington MN Norlan Partnership Series A-1 (Housing Revenue, FNMA Insured)		0.30	%		07/15/2032		900,000		900,000
Bloomington MN Presbyterian Homes (Housing Revenue, FHLMC Insured)		0.26	%		07/01/2038		2,050,000		2,050,000
Burnsville MN Bridgeway Apartments Project (Housing Revenue, FNMA Insured)		0.26	%		10/15/2033		400,000		400,000
Cohasset MN Power & Light Company Project B (IDR, LaSalle Bank NA LOC)		0.29	%		06/01/2013		1,100,000		1,100,000
Cohasset MN Power & Light Company Project C (IDR, LaSalle Bank NA LOC)		0.29	%		06/01/2013		1,250,000		1,250,000
Coon Rapids MN Drake Apartments Project A (Housing Revenue, FNMA Insured)		0.30	%		06/15/2038		2,755,000		2,755,000
Dakota County MN RDA (Housing Revenue, FHLMC Insured) ††		0.29	%		06/01/2029		915,000		915,000
Duluth MN Seaway Port Authority Saint Lawrence Cement Incorporated Project (IDR, Wells Fargo Bank NA LOC) (q)		0.28	%		03/01/2020		5,000,000		5,000,000
East Grand Forks MN Solid Waste Disposal American Crystal Sugar Company Project (Miscellaneous Revenue, CoBank ACB LOC)		0.27	%		12/01/2021		5,000,000		5,000,000
Edina MN Edina Park Plaza (Housing Revenue, FHLMC Insured)		0.26	%		12/01/2029		1,260,000		1,260,000
Maplewood MN Educational Facilities Mounds Park Academy Project (Education Revenue, U.S. Bank NA LOC)		0.27	%		10/01/2023		975,000		975,000
Maplewood MN Educational Facilities Mounds Park Academy Project (Education Revenue, U.S. Bank NA LOC)		0.27	%		10/01/2031		2,000,000		2,000,000
Minneapolis & St. Paul MN Housing & RDA Allina Health Systems Series B-1 (Hospital Revenue, JPMorgan Chase Bank LOC)		0.25	%		11/15/2035		3,450,000		3,450,000
Minneapolis & St. Paul MN Housing & RDA Allina Health Systems Series B-2 (Hospital Revenue, JPMorgan Chase Bank LOC)		0.26	%		11/15/2035		3,200,000		3,200,000
Minneapolis & St. Paul MN Housing & RDA Health Care Facilities Series A (Hospital Revenue, AGM Insured)		0.29	%		08/15/2034		250,000		250,000
Minneapolis & St. Paul MN Metro Airports Commission Series A PUTTER DB-489 (Airport Revenue, AMBAC Insured) ††		0.26	%		01/01/2030		3,275,000		3,275,000
Minneapolis MN Driftwood Apartments Project A (Housing Revenue, U.S. Bank NA LOC)		0.35	%		10/01/2024		635,000		635,000
Minneapolis MN Minnehaha Academy Project (Education Revenue, U.S. Bank NA LOC)		0.28	%		05/01/2026		263,000		263,000
Minneapolis MN People Serving People Project Series A (Miscellaneous Revenue, U.S. Bank NA LOC) ††		0.28	%		10/01/2021		1,600,000		1,600,000
Minnesota Agriculture & EDA Como Partnership Project Series 1996 (IDR, U.S. Bank NA LOC) ††		0.40	%		05/01/2016		690,000		690,000
Minnesota Bond Securitization Trust Certificate Carleton Lofts Project Class A (Housing Revenue, LaSalle Bank NA LOC)		0.46	%		12/01/2048		300,000		300,000
Minnesota Bond Securitization Trust Series S1 (Housing Revenue, PNC Bank NA LOC)		0.46	%		02/01/2027		1,500,000		1,500,000
Minnesota HFA Residential Housing Finance Project Series C (Housing Revenue)		0.28	%		07/01/2036		1,800,000		1,800,000
Minnesota State Concordia University Series P1 (Education Revenue, U.S. Bank NA LOC)		0.28	%		04/01/2027		1,300,000		1,300,000
Minnesota State HEFAR Hamline University Series 6E1 (Education Revenue, Harris NA LOC)		0.26	%		10/01/2016		2,175,000		2,175,000
Minnesota State HEFAR Macalester College Series 3Z (Education Revenue, GO of Institution Insured)		0.30	%		03/01/2024		300,000		300,000
Minnesota State HEFAR Olaf College Five M2 (Education Revenue, Harris NA LOC)		0.28	%		10/01/2020		1,745,000		1,745,000

The accompanying notes are integral part of these financial statements.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MINNESOTA MONEY MARKET FUND


Security Name			Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Minnesota State HEFAR Trustees Hamline University Series 6E3 (Education Revenue, Harris NA LOC)				0.26	%		10/01/2016	$	1,165,000		1,165,000
Minnesota State HFA Residential Housing Series 1 (Housing Revenue, GO of Agency Insured)				0.28	%		01/01/2036		470,000		470,000
Minnesota State Higher Education Facilities Authority MacAlester College Series 5-Q (Education Revenue)				0.26	%		03/01/2033		2,200,000		2,200,000
Minnesota State Higher Education Facilities Authority Series 6-E2 (Education Revenue, Harris NA LOC)				0.26	%		10/01/2025		3,450,000		3,450,000
Minnesota State Residential Housing Series G (Housing Revenue)				0.30	%		01/01/2032		275,000		275,000
Minnesota State University of St. Thomas Series 4O (Education Revenue, U.S. Bank NA LOC)				0.29	%		10/01/2021		300,000		300,000
Minnesota State University of St. Thomas Series 6H (Education Revenue, U.S. Bank NA LOC)				0.26	%		10/01/2032		725,000		725,000
Minnetonka MN Housing Facilities Beacon Hill (Housing Revenue, FNMA Insured)				0.26	%		05/15/2034		785,000		785,000
Oakdale MN Cottage Homesteads of Aspen (Housing Revenue, FHLMC LOC)				0.30	%		06/01/2045		2,300,000		2,300,000
Pine City MN State Agency (Housing Revenue, FNMA Insured)				0.26	%		04/15/2036		640,000		640,000
Plymouth MN at the Lake Apartments Project (Housing Revenue, FHLMC Insured)				0.30	%		08/01/2034		1,600,000		1,600,000
Ramsey County MN Housing & Redevelopment Gateway Apartments LP Series A (Housing Revenue, LaSalle Bank NA LOC)				0.32	%		10/01/2038		1,650,000		1,650,000
Rochester MN Health Care Facilities Mayo Foundation (Hospital Revenue)				0.24	%		08/15/2032		450,000		450,000
Rush City MN Plastech Corporation Project (IDR, U.S. Bank NA LOC) ††				0.30	%		09/01/2014		975,000		975,000
St. Cloud MN Cenracare Health Series A (Hospital Revenue, U.S. Bank NA LOC)				0.24	%		05/01/2042		750,000		750,000
St. Cloud MN Health Central Care Series C (Hospital Revenue, Assured Guaranty Insured)				0.32	%		05/01/2042		2,150,000		2,150,000
St. Louis Park MN Refunding MFHR Newport on Seven Apartments Project Series 2001 (Housing Revenue, FNMA Insured)				0.30	%		09/15/2031		500,000		500,000
St. Paul MN Housing & RDA Leased Housing Association Series A (Housing Revenue, LaSalle Bank NA LOC)				0.36	%		09/01/2035		2,595,000		2,595,000
St. Paul MN Port Authority District Cooling Series 13-FF (Utilities Revenue, Deutsche Bank AG LOC)				0.23	%		03/01/2029		750,000		750,000
St. Paul MN Port Authority District Heating Series 14-S (Utilities Revenue, Deutsche Bank AG LOC)				0.23	%		12/01/2028		2,250,000		2,250,000
St. Paul MN Port Authority District Heating Series 7-Q (Utilities Revenue, Deutsche Bank AG LOC)				0.23	%		12/01/2028		375,000		375,000
St. Paul MN Port Authority District Series 9BB (Utilities Revenue, Deutsche Bank AG LOC)				0.23	%		03/01/2029		1,470,000		1,470,000
St. Paul MN Port Authority Tax Increment Westgate Office & Industrial Center Project (Tax Revenue, U.S. Bank NA LOC)				0.24	%		02/01/2015		1,050,000		1,050,000
St. Paul Port Authority (IDR, Deutsche Bank AG LOC) (Municipal Bonds and Notes)				0.27	%		03/01/2029		650,000		650,000
Stevens County MN Solid Waste Disposal Riverview Dairy Project Series 2007 (Miscellaneous Revenue, AgCountry Farm Credit LOC)				0.37	%		08/01/2032		4,800,000		4,800,000
Swift County MN Solid Waste Disposal East Dublin Dairy LLP Project Series 2008 (Miscellaneous Revenue, AgCountry Farm Credit LOC)				0.37	%		04/01/2033		4,000,000		4,000,000
											88,683,000

Total Municipal Bonds and Notes (Cost $90,783,000)											90,783,000

Total Investments in Securities (Cost $90,783,000)*	99.68	%								$	90,783,000
Other Assets and Liabilities, Net	0.32										287,086

Total Net Assets	100.00	%								$	91,070,086

(q)

Credit enhancement is provided by an affiliate.

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

§	These securities are subject to a demand feature which reduces the effective maturity.

The accompanying notes are an integral part of these financial statements.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MINNESOTA MONEY MARKET FUND

*	Cost for federal income tax purposes is substantially the same as for financial reporting purposes.

The accompanying notes are an integral part of these financial statements.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Commercial Paper: 1.65%
Mercer County ND Pollution Control Refunding Revenue Notes Series 2009-2 (Utilities Revenue, JPMorgan Chase Bank LOC)		0.32	%		05/18/2011	$	35,000,000	$	35,000,000
Montgomery County MD (Miscellaneous Revenue, Barclays Bank LOC)		0.28			07/06/2011		10,000,000		10,000,000
Montgomery County MD (Miscellaneous Revenue, Barclays Bank LOC)		0.28			07/06/2011		9,000,000		9,000,000
Rochester MN Health Care (Hospital Revenue)		0.27			05/02/2011		12,900,000		12,900,000
Total Commercial Paper (Cost $66,900,000)									66,900,000

Municipal Bonds and Notes: 98.01%
Alabama: 2.90%
Variable Rate Demand Notes§: 2.90%
Homewood AL Educational Building Authority (Education Revenue, Branch Banking & Trust LOC)		0.26			12/01/2043		10,000,000		10,000,000
Mobile County AL IDA Mobile Development Project (Energy Revenue, Svenska HandelsBanken LOC)		0.26			07/01/2040		30,000,000		30,000,000
Pell City AL Special Care Facilities Authority Noland Health Services Incorporated Project Series 2009A (Health Revenue, U.S. Bank NA LOC)		0.26			12/01/2039		4,000,000		4,000,000
Southeast Alabama Gas District Alabama Supply Project Series 2007-A (Utilities Revenue)		0.24			08/01/2027		66,550,000		66,550,000
Tuscaloosa County AL IDA Series A (Miscellaneous Revenue)		0.32			09/01/2020		6,700,000		6,700,000
									117,250,000

Alaska: 0.37%
Variable Rate Demand Note§: 0.37%
Alaska Housing Finance Corporation Series 2006-0022 (Housing Revenue, U.S. Bank NA LOC)		0.25			06/01/2013		14,825,000		14,847,598

Arizona: 0.62%
Variable Rate Demand Notes§: 0.62%
Maricopa County AZ Desert Eagles Estate Project Series 2003A-1 (Housing Revenue, FHLMC Insured)		0.36			07/01/2036		9,405,000		9,405,000
Mesa AZ Utility Systems ROC RR-II-R 11032 (Utilities Revenue, FSA Insured)		0.27			07/01/2026		15,600,000		15,600,000
									25,005,000

Arkansas: 0.02%
Variable Rate Demand Note§: 0.02%
Arkansas Development Finance Authority Stratton Seed Company Project (IDR, Bank of America NA LOC)		0.55			03/01/2014		900,000		900,000

California: 8.97%
Other Municipal Debt: 1.35%
FHLMC Series M001 Class A (Housing Revenue)		0.32			08/15/2045		30,195,559		30,195,559
FHLMC Series M002 Class A (Housing Revenue)		0.32			01/15/2047		4,374,875		4,374,875
FHLMC Series M008 Class A (Housing Revenue)		0.32			02/15/2035		20,085,546		20,085,546
									54,655,980

Variable Rate Demand Notes§: 7.62%
California CDA PUTTER Series 2680 (Housing Revenue, JPMorgan Chase Bank LOC)		0.36			05/15/2018		23,000,000		23,000,000
California CDA PUTTER Series 2681 (Housing Revenue, JPMorgan Chase Bank LOC)		0.46			05/15/2018		7,300,000		7,300,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
California Infrastructure & Economic Development Authority ROC RR-II-R 11527 (Transportation Revenue, AMBAC Insured)		0.24	%		07/01/2030	$	3,055,000	$	3,055,000
California Infrastructure & Economic Development Bank (Miscellaneous Revenue)		0.20			04/01/2033		19,705,000		19,705,000
California PCFA Burney Forest Project (Resource Recovery Revenue, Union Bank of CA LOC)		0.22			09/01/2020		14,700,000		14,700,000
California PCFA Pacific Gas & Electric Project Series 97-B (Utilities Revenue, JPMorgan Chase & Company LOC)		0.27			11/01/2026		13,150,000		13,150,000
California Schools Deutsche Bank Spears Trust Series DBE-648 (GO - Local, FSA NATL-RE FGIC Insured)		0.26			09/01/2029		4,205,000		4,205,000
California Statewide CDA Olympus Park Apartments Series Y (Housing Revenue, FNMA Insured)		0.26			10/15/2030		6,800,000		6,800,000
Golden State Tobacco Securitization Corporation Series 1271 (Tobacco Revenue, AMBAC-TCRS-BNY Insured)		0.46			06/01/2045		2,530,000		2,530,000
Grossmont CA High School District California School Deutsche Bank Spears Trust Series DBE-637 (GO - Local)		0.26			08/01/2047		4,200,000		4,200,000
Los Angeles CA Community College (Miscellaneous Revenue) ††		0.26			08/01/2032		22,500,000		22,500,000
Oakland CA Redevelopment Agency (Housing Revenue, FHLMC Insured)		0.35			10/01/2050		75,000,000		75,000,000
Poway CA School District Series 3063 (GO - Local, FSA Insured) ††		0.26			08/01/2030		10,000,000		10,000,000
Sacramento CA Deutsche Bank Spears Lifers Trust Series DBE-247 (Tax Revenue, FGIC Insured)		0.25			12/01/2030		26,355,000		26,355,000
San Jose CA Airport Deutsche Bank Spears/Lifers Trust Series DB-479 (Airport Revenue, FSA-CR AMBAC Insured)		0.26			03/01/2037		35,155,000		35,155,000
Ukiah CA Union School District Deutsche Bank Spears Trust Series DB-382 (GO - Local, NATL-RE Insured)		0.25			08/01/2030		20,795,000		20,795,000
Victorville CA Joint Powers Finance Authority Project A (Utilities Revenue, BNP Paribas LOC)		1.75			05/01/2040		20,120,000		20,120,000
									308,570,000

Colorado: 0.92%
Variable Rate Demand Notes§: 0.92%
Arapahoe County CO Cottrell Printing Project (IDR)		0.48			10/01/2019		2,000,000		2,000,000
Aurora CO Centretech Metropolitan District Series 1998-C (GO - Local, U.S. Bank NA LOC)		0.28			12/01/2028		3,065,000		3,065,000
Colorado ECFA National Jewish Federation Project (Health Revenue, U.S. Bank NA LOC)		0.27			02/01/2039		950,000		950,000
Colorado Health Facilities Authority Exempla Incorporated Project Series 2002-B (Hospital Revenue, U.S. Bank NA LOC)		0.25			01/01/2033		5,000,000		5,000,000
Colorado HFA Multifamily Project Class I-B2 (Housing Revenue)		0.30			04/01/2038		16,720,000		16,720,000
Colorado HFA Worldwest LLP Project Series 1999-A (IDR, Mercantile Bank LOC) ††		0.63			09/01/2023		960,000		960,000
Colorado Parker Automotive Project (GO - Local, U.S. Bank NA LOC)		0.28			12/01/2034		900,000		900,000
Colorado Springs CO Utility Systems ROC RR-II-R 457 (Utilities Revenue)		0.26			05/15/2011		7,465,000		7,465,000
									37,060,000

Delaware: 6.75%
Variable Rate Demand Notes§: 6.75%
Branch Bank & Trust Municipal Trust Series 5000 (Lease Revenue, RaboBank International LOC) ††		0.34			10/01/2028		13,698,065		13,698,065
Branch Bank & Trust Municipal Trust Series 5003 (Lease Revenue, RaboBank International LOC) ††		0.49			05/01/2027		31,408,998		31,408,998
Clipper Tax-Exempt Certified Trust Series 2004-10 (Housing Revenue)		0.41			12/01/2035		4,031,000		4,031,000
Clipper Tax-Exempt Certified Trust Series 2005-30 (Housing Revenue)		0.41			06/01/2038		15,340,000		15,340,000
Clipper Tax-Exempt Certified Trust Series 2005-31 (Housing Revenue)		0.41			01/01/2036		13,590,000		13,590,000
Clipper Tax-Exempt Certified Trust Series 2006-02 (Housing Revenue)		0.41			10/01/2036		15,340,000		15,340,000
Clipper Tax-Exempt Certified Trust Series 2006-06 (Housing Revenue)		0.41			07/01/2037		11,767,000		11,767,000
Clipper Tax-Exempt Certified Trust Series 2006-10 (Housing Revenue)		0.41			09/01/2013		1,345,000		1,345,000
Clipper Tax-Exempt Certified Trust Series 2007-26 (Housing Revenue)		0.31			05/01/2017		93,374,000		93,374,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Clipper Tax-Exempt Certified Trust Series 2007-40 (Housing Revenue)		0.41	%		02/01/2013	$	9,567,000	$	9,567,000
Delaware Economic Development Authority (Miscellaneous Revenue)		0.28			08/01/2029		21,300,000		21,300,000
Delaware Economic Development Authority IDR Delaware Clean Power Project Series 1997-B (Miscellaneous Revenue)		0.28			08/01/2029		15,150,000		15,150,000
Delaware Economic Development Authority IDR Delaware Clean Power Project Series 1997-C (Miscellaneous Revenue)		0.25			08/01/2029		25,400,000		25,400,000
Delaware Economic Development Authority Wilmington Montessori School Project (Education Revenue, PNC Bank NA LOC)		0.31			05/01/2020		1,790,000		1,790,000
									273,101,063

District of Columbia: 1.22%
Other Municipal Debt: 0.50%
District of Columbia TRAN (GO - Local)		2.00			09/30/2011		20,000,000		20,136,796

Variable Rate Demand Notes§: 0.72%
District of Columbia HFA PFOTER Carver Senior Apartments Project Series 4566 (Housing Revenue, FHLMC Insured)		0.36			10/01/2049		7,170,000		7,170,000
District of Columbia HFA PFOTER Galen Terrace Project Series 4568 (Housing Revenue, FHLMC Insured)		0.36			02/01/2049		4,320,000		4,320,000
District of Columbia HFA PFOTER Series 4275 (Housing Revenue)		0.43			04/01/2021		7,630,000		7,630,000
District of Columbia ROC RR-II-R 11072 (GO - Local, BHAC-CR CIFG Insured)		0.27			06/01/2015		10,005,000		10,005,000
									29,125,000

Florida: 6.44%
Other Municipal Debt: 0.25%
Orlando FL Utilities Commission Series D (Utilities Revenue)		2.50			05/01/2011		10,000,000		10,000,000

Variable Rate Demand Notes§: 6.19%
Bay County FL Sales Tax Solar Eclipse Project Series 2006-0103 (Tax Revenue, U.S. Bank NA LOC)		0.25			03/01/2014		2,970,000		2,970,000
Brevard County FL HFA Shore View Apartments Project Series 1995 (Housing Revenue, Harris Trust & Savings Bank LOC)		0.29			02/01/2015		800,000		800,000
Broward County FL Airport Systems Embraer Aircraft Holding Project Series 2007-A (Airport Revenue, CitiBank NA LOC)		0.30			04/01/2035		11,000,000		11,000,000
Duval County FL Camri Green Apartments (Housing Revenue, FNMA Insured)		0.30			11/15/2036		6,900,000		6,900,000
Florida Gulf Coast University Finance Corporation Parking Project Series A (Miscellaneous Revenue, Harris NA LOC)		0.24			02/01/2039		7,835,000		7,835,000
Florida HFA Vizcaya Villas Project Series 1996-M (Housing Revenue) ††		0.33			07/25/2015		5,670,000		5,670,000
Florida Housing Finance Corporation Brook Haven Apartments Multi-Family Mortgage Project Series 2006-H (Housing Revenue, FNMA Insured)		0.29			04/15/2039		6,295,000		6,295,000
JEA Florida Electric Systems Series A (Utilities Revenue, Bank of Montreal LOC)		0.24			10/01/2035		8,225,000		8,225,000
Manatee County FL COP Deutsche Bank Spears Lifers Trust Series DB-43 (Lease Revenue, NATL-RE Insured)		0.26			07/01/2027		4,230,000		4,230,000
Marion County FL HFA Paddock Apartments Project (Housing Revenue, FNMA Insured)		0.27			10/15/2032		4,000,000		4,000,000
Miami FL HFFA Catholic Health East (Health Revenue)		0.26			11/15/2025		9,925,000		9,925,000
Miami-Dade County FL COP Series 2008-1119X (Housing Revenue, Assured Guaranty Insured)		0.33			05/01/2033		5,000,000		5,000,000
Miami-Dade County FL International Airport Aviation Series 2008-1139X (Airport Revenue, Assured Guaranty Insured)		0.43			04/01/2028		7,500,000		7,500,000
Miami-Dade County FL International Airport Aviation Series 34 (Airport Revenue, Societe Generale LOC)		0.26			10/01/2029		11,870,000		11,870,000
Miami-Dade County FL Series DBE-538 (Tax Revenue, AMBAC Insured)		0.26			04/01/2027		2,200,000		2,200,000
Miami-Dade County FL Tarmac America Project (Miscellaneous Revenue, Bank of America NA LOC)		0.36			04/01/2034		3,200,000		3,200,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Orange County FL Health Facilities Authority Adventist Health Systems Project Series 237 (Hospital Revenue, AMBAC Insured)		0.43	%		06/09/2011	$	101,000,000	$	101,000,000
Orange County FL HFA Landings on Millenia Boulevard Apartments Project Series 2002-A (Housing Revenue, FNMA LOC)		0.30			08/15/2035		7,060,000		7,060,000
Orange County FL HFFA Adventist Health Systems Project Sunbelt (Health Revenue)		0.23			11/15/2026		8,000,000		8,000,000
Orange County FL IDA Central Florida YMCA Project Series A (Miscellaneous Revenue, Bank of America NA LOC)		0.29			05/01/2027		2,240,000		2,240,000
Orlando FL Utilities Commission Series A (Utilities Revenue)		0.37			10/01/2027		6,745,000		6,745,000
Palm Beach County FL Finance Authority DRIVER Trust Series 3419 (Resource Recovery Revenue, BHAC Insured) ††		0.26			04/01/2017		2,275,000		2,275,000
Palm Beach County FL Jewish Community Campus Corporation Project (Miscellaneous Revenue, Northern Trust Company LOC, AMBAC Insured)		0.30			03/01/2027		4,000,000		4,000,000
Pinellas County FL Health Facilities Authority BayCare Health Series A-1 (Hospital Revenue, U.S. Bank NA LOC)		0.22			11/01/2038		7,600,000		7,600,000
Pinellas County FL Housing Development Corporation Booker Creek Apartments (Housing Revenue, JPMorgan Chase Bank LOC)		0.27			01/01/2043		5,000,000		5,000,000
South Broward FL Hospital District Solar Eclipse Project Series 2006-0043 (Hospital Revenue, U.S. Bank NA LOC) ††		0.25			11/01/2013		5,000,000		5,000,000
South Florida Water Management District ROC RR II R-12313 (Water & Sewer Revenue, AGM-CR AMBAC Insured) ††		0.26			04/01/2015		4,000,000		4,000,000
									250,540,000

Georgia: 0.69%
Variable Rate Demand Notes§: 0.69%
Atlanta GA Development Authority Multi-Modal Zone Facility Perkins & Will Incorporated Project (Miscellaneous Revenue, Harris NA LOC)		0.28			11/01/2030		3,520,000		3,520,000
Atlanta GA Housing Authority Villages at Carver Project (Housing Revenue, FNMA Insured)		0.31			12/15/2039		3,425,000		3,425,000
Clipper Tax-Exempt Certified Trust Series 2007-10 (Housing Revenue)		0.29			04/01/2014		8,795,000		8,795,000
Gwinnet County GA Development Authority Ole Mexican Foods Incorporated Project (IDR, Branch Banking & Trust LOC)		0.36			05/01/2031		2,210,000		2,210,000
Main Street Natural Gas Incorporated GA Gas Development Project Series A (Utilities Revenue)		0.26			08/01/2040		10,100,000		10,100,000
									28,050,000

Hawaii: 0.25%
Variable Rate Demand Note§: 0.25%
Clipper Tax-Exempt Certified Trust Series 2007-34 (GO - State)		0.31			05/01/2015		9,995,000		9,995,000

Idaho: 0.09%
Variable Rate Demand Note§: 0.09%
Gooding County ID Southfield Dairy Project (Miscellaneous Revenue, Wells Fargo Bank NA LOC) (q)		0.41			04/01/2022		3,630,000		3,630,000

Illinois: 9.25%
Other Municipal Debt: 0.25%
Illinois Finance Authority (Education Revenue, FNMA Insured)		0.28			05/04/2011		10,000,000		10,000,000

Variable Rate Demand Notes§: 9.00%
Branch Bank & Trust Municipal Trust Series 5001 (Lease Revenue, RaboBank International LOC) ††		0.34			06/01/2020		21,475,849		21,475,849
Channahon IL Morris Hospital Project Series A (Hospital Revenue, U.S. Bank NA LOC)		0.27			12/01/2023		2,405,000		2,405,000
Chicago IL Series ZC-1 (GO - Local, FGIC Insured)		0.36			01/01/2023		64,503,000		64,503,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Chicago IL Wastewater Transmission (Water & Sewer Revenue)		0.30	%		01/01/2015	$	7,000,000	$	7,000,000
Chicago IL Board of Education Series 2009-A1 (GO - Local, Harris Trust & Savings Bank LOC)		0.20			03/01/2026		37,200,000		37,200,000
Chicago IL Deutsche Bank Spears-Lifers Trust (Water & Sewer Revenue)		0.26			01/01/2027		15,555,000		15,555,000
Chicago IL Deutsche Bank Spears-Lifers Trust Series DB-410 (GO - Local, FGIC Insured)		0.26			12/01/2026		4,685,000		4,685,000
Chicago IL Eclipse Funding Trust Solar Eclipse Project Series 2006-0003 (GO - Local, U.S. Bank NA LOC, FSA Insured)		0.25			07/01/2013		9,240,000		9,240,000
Chicago IL Education Marine Project Series 1984 (Port, Airport, & Marina Authority Revenue, FHLB LOC)		0.27			07/01/2023		4,200,000		4,200,000
Chicago IL Enterprise Center Project Series IX (IDR, LaSalle Bank NA LOC)		0.48			06/01/2022		3,146,000		3,146,000
Chicago IL Enterprise Center Project Series X (IDR, LaSalle Bank NA LOC)		0.48			06/01/2022		4,300,000		4,300,000
Chicago IL GO (Miscellaneous Revenue) ††		0.31			07/01/2028		2,000,000		2,000,000
Chicago IL O’Hare International Airport ROC RR-II-R-605PB (Airport Revenue, FSA-CR FGIC Insured)		0.41			01/01/2014		9,755,000		9,755,000
Chicago IL O’Hare International Airport Series 1990 (Airport Revenue, Societe Generale LOC)		0.28			05/01/2018		11,000,000		11,000,000
Chicago IL P S Greetings Incorporated Project (IDR, JPMorgan Chase & Company LOC)		0.29			05/01/2024		1,135,000		1,135,000
Chicago IL Series 2007F (GO - Local)		0.50			01/01/2042		18,925,000		18,925,000
Chicago IL Series 3190 (GO - Local) ††		0.26			01/01/2034		9,000,000		9,000,000
Chicago IL Water Eclipse Funding Trust Series 2006-0106 (Water & Sewer Revenue, U.S. Bank NA LOC)		0.25			05/01/2014		4,035,000		4,035,000
Greenville IL Greenville College Project (Education Revenue, PNC Bank NA LOC) (i)		0.60			11/01/2036		2,200,000		2,200,000
Illinois Educational Facilities Authority Newberry Library Project (Miscellaneous Revenue, Northern Trust Company LOC)		0.27			03/01/2028		2,040,000		2,040,000
Illinois Finance Authority Bradley University Project Series A (Education Revenue, PNC Bank NA LOC)		0.25			04/01/2033		18,500,000		18,500,000
Illinois Finance Authority DRIVER Trust Series 3302 (Education Revenue) ††		0.27			06/01/2014		6,200,000		6,200,000
Illinois Finance Authority DRIVER Trust Series 3420 (GO - Local, Assured Guaranty Insured) ††		0.26			01/01/2016		3,300,000		3,300,000
Illinois Finance Authority Rush University Education Center Obligation Group Series 2008-A (Hospital Revenue, Northern Trust Company LOC)		0.24			11/01/2045		3,500,000		3,500,000
Illinois Housing Development Authority Florida House Project Series C (Housing Revenue, JPMorgan Chase & Company LOC, GO of Authority Insured)		0.37			01/01/2027		5,350,000		5,350,000
Illinois Housing Development Authority Homeowner Mortgage A3 (Housing Revenue)		0.28			08/01/2035		10,400,000		10,400,000
Illinois Housing Development Authority Larkin Village Project Series A (Housing Revenue, JPMorgan Chase Bank LOC, GO of Authority Insured)		0.37			01/01/2027		13,450,000		13,450,000
Illinois Metropolitan Pier & Exposition Authority Series 3217 (Tax Revenue)		0.26			06/15/2050		7,500,000		7,500,000
Illinois Metropolitan Pier & Exposition Authority Series 3219 (Tax Revenue) ††		0.26			06/15/2050		15,000,000		15,000,000
Illinois State Toll Highway Authority (Transportation Revenue)		0.29			07/01/2030		8,000,000		8,000,000
Southwestern Illinois IDA Mattingly Lumber Project Series 2005-A (IDR, First Bank LOC)		0.41			12/01/2035		3,080,000		3,080,000
Vernon Hills IL Hawthorn Lakes Project (Housing Revenue, Societe Generale LOC, FSA Insured)		0.36			01/01/2016		15,210,000		15,210,000
Will County IL Deutsche Bank Spears-Lifers Trust (Education Revenue)		0.26			11/01/2023		21,155,000		21,155,000
									364,444,849

Indiana: 1.12%
Variable Rate Demand Notes§: 1.12%
Clipper Tax-Exempt Certified Trust Series 2007-02 (Lease Revenue)		0.29			01/01/2018		26,140,000		26,140,000
Elkhart County IN Advanced Technology Incorporated Project (IDR, Societe Generale LOC)		0.30			04/01/2021		2,600,000		2,600,000
Gary IN Grant Street Project (IDR, JPMorgan Chase Bank LOC)		0.41			07/01/2034		5,555,000		5,555,000
Indiana Finance Authority Parkview Health System Obligation C (Hospital Revenue, PNC Bank NA LOC)		0.24			11/01/2039		5,250,000		5,250,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Indiana HFFA Revenue Fayette Memorial Hospital Association Series A (Hospital Revenue, U.S. Bank NA LOC)		0.28	%		10/01/2032	$	4,585,000	$	4,585,000
Richmond IN Reid Hospital & Health Care Services Incorporated Hospital Authority Series A (Hospital Revenue, Bank of New York LOC)		0.19			12/01/2016		1,075,000		1,075,000
									45,205,000

Iowa: 0.53%
Variable Rate Demand Notes§: 0.53%
Alton IA Northwest Iowa Agronomy Project (IDR, Bank of America NA LOC)		0.55			10/01/2024		2,005,000		2,005,000
Iowa HFA SFHR Series N (Housing Revenue, GNMA/FNMA Insured)		0.28			01/01/2039		7,250,000		7,250,000
Iowa Higher Education Loan Authority Private Colleges Ambrose (Education Revenue, Northern Trust Company LOC)		0.28			04/01/2033		11,540,000		11,540,000
Scott County IA Nichols Aluminum Recycling Project (IDR, U.S. Bank NA LOC)		0.70			06/01/2014		800,000		800,000
									21,595,000

Kansas: 0.17%
Variable Rate Demand Notes§: 0.17%
Johnson County KS Private Activity Stouse Sign & Decal Project Series A (IDR)		0.62			07/01/2011		300,000		300,000
Kansas State Development Finance Authority Adventist Health C (Hospital Revenue, Royal Bank of Canada LOC)		0.23			11/15/2034		3,000,000		3,000,000
Liberal KS Farmland National Beef Packing Project (IDR, RaboBank International LOC)		0.31			02/01/2029		1,000,000		1,000,000
Nemaha County KS Midwest AG Services LLC Project (IDR, CoBank ACB LOC)		0.41			11/01/2020		2,450,000		2,450,000
									6,750,000

Kentucky: 2.11%
Other Municipal Debt: 1.81%
Kentucky Rural Water Finance Corporation Series E (Water & Sewer Revenue)		1.50			12/01/2011		10,000,000		10,049,342
Louisville & Jefferson County KY Metropolitan Sewer District Sewer & Drain Systems Series A (Water & Sewer Revenue)		1.25			05/26/2011		63,340,000		63,365,655
									73,414,997

Variable Rate Demand Notes§: 0.30%
Carroll County KY Solid Waste Disposal Celotex Corporation Project (Miscellaneous Revenue, Bank of America NA LOC)		0.28			05/01/2028		3,000,000		3,000,000
Christian County KY Association of County Leasing Series B (Lease Revenue, U.S. Bank NA LOC)		0.26			08/01/2037		2,970,000		2,970,000
Jefferson County KY Industrial Zeochem LLC Project (IDR, UBS AG LOC)		0.31			08/01/2021		2,625,000		2,625,000
Kentucky Economic Development Authority PFOTER Madonna Manor Incorporated Project Series 2010 (Hospital Revenue) ††		0.33			12/01/2039		3,435,000		3,435,000
									12,030,000

Louisiana: 1.90%
Variable Rate Demand Notes§: 1.90%
Ascension Parish LA BASF Corporation Project (Miscellaneous Revenue)		0.42			03/01/2025		7,900,000		7,900,000
Calcasieu Parish LA Hydroserve Westlake Project (Utilities Revenue)		0.37			12/01/2024		5,100,000		5,100,000
East Baton Rouge Parish LA IDA Series A (IDR)		0.11			08/01/2035		9,900,000		9,900,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Louisiana HFA Arbor Place Apartments Project Series 2008 (Housing Revenue, FHLMC Insured)		0.33	%		03/01/2043	$	8,125,000	$	8,125,000
Louisiana HFA PFOTER The Crossing Apartments Project Series 2006-4572 (Housing Revenue, FHLMC Insured) ††		0.36			05/01/2048		7,380,000		7,380,000
Louisiana Public Facilities Authority Christus Health Project Series B-3 (Hospital Revenue, Bank of New York LOC)		0.23			07/01/2047		3,000,000		3,000,000
Louisiana Public Facilities Authority PC Allied Signal Incorporated Project (Miscellaneous Revenue)		0.37			08/01/2017		6,815,000		6,815,000
Louisiana State Gas & Fuel Series RR-II-R 661 (Tax Revenue, FSA Insured)		0.27			05/01/2014		17,845,000		17,845,000
St. James Parish LA Nucor Steel Louisiana LLC Project Series 2010A-1 (Energy Revenue)		0.28			11/01/2040		11,000,000		11,000,000
									77,065,000

Maryland: 0.46%
Variable Rate Demand Notes§: 0.46%
Baltimore MD Series 152 (Water & Sewer Revenue, Societe Generale LOC, NATL-RE Insured)		0.29			07/01/2020		10,000,000		10,000,000
Maryland Industrial Development Finance Authority ED Foodswing Project Series 2008 (IDR, Bank of America NA LOC)		0.44			04/01/2023		8,500,000		8,500,000
									18,500,000

Massachusetts: 0.47%
Variable Rate Demand Notes§: 0.47%
Massachusetts Drivers Trust Series 3187-Z (Water & Sewer Revenue, GO of Authority Insured) ††		0.26			08/01/2014		8,205,000		8,205,000
Massachusetts Series 2648 (GO - State, FSA Insured)		0.31			08/01/2015		3,700,000		3,700,000
Massachusetts State Development Finance Agency Fay School Issue Series 2008 (Education Revenue, TD Bank NA LOC)		0.24			04/01/2038		5,000,000		5,000,000
Massachusetts State Industrial Finance Agency Constitution Project (Miscellaneous Revenue)		0.47			06/01/2018		2,000,000		2,000,000
									18,905,000

Michigan: 5.48%
Other Municipal Debt: 1.74%
Michigan Finance Authority Series D-1 (Miscellaneous Revenue)		2.00			08/19/2011		5,000,000		5,017,772
Michigan Finance Authority Series D-2 (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		2.00			08/22/2011		7,000,000		7,034,265
Michigan Finance Authority Series D-3 (Miscellaneous Revenue, Scotia Bank LOC)		2.00			08/22/2011		7,000,000		7,034,265
Michigan State Finance Authority (Miscellaneous Revenue)		0.29			07/18/2011		17,500,000		17,500,000
Michigan State Hospital Finance Authority (Miscellaneous Revenue)		0.29			07/12/2011		28,840,000		28,840,000
Michigan State Series A (GO - State)		2.00			09/30/2011		5,000,000		5,032,396
									70,458,698

Variable Rate Demand Notes§: 3.74%
Michigan Housing Development Authority Rental Housing Project Series 2006-A (Housing Revenue, AGM GO of Authority Insured)		0.30			10/01/2040		52,905,000		52,905,000
Michigan Housing Development Authority Rental Housing Project Series 2006-C (Housing Revenue, AGM GO of Authority Insured)		0.30			04/01/2041		32,290,000		32,290,000
Michigan Solid Waste Disposal L’Anse Warden Company Project Series 2008 (Resource Recovery Revenue)		0.38			02/01/2028		19,215,000		19,215,000
Michigan State Hospital Finance Authority Ascension Health Senior Credit (Hospital Revenue)		0.35			11/15/2049		12,500,000		12,500,000
Michigan State Housing Development Authority Rental Housing Project (Housing Revenue, GO of Authority Insured)		0.28			10/01/2037		26,945,000		26,945,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Royal Oak MI Deutsche Bank Spears Lifers Trust Series DB-711 (Hospital Revenue) ††		0.26	%		11/01/2035	$	7,275,000	$	7,275,000
									151,130,000

Minnesota: 1.65%
Other Municipal Debt: 0.14%
Minnesota Rural Water Finance Authority (Water & Sewer Revenue)		1.25			04/01/2012		2,000,000		2,010,898
Minnesota Trunk Highway Project Series B (GO - State)		4.00			08/01/2011		3,625,000		3,658,520
									5,669,418

Variable Rate Demand Notes§: 1.51%
Dakota County MN CDA View Pointe Apartments Project Series 2007-A (Housing Revenue, FNMA Insured)		0.30			01/15/2038		7,000,000		7,000,000
Maplewood MN Educational Facilities Authority Mounds Park Academy Project (Education Revenue, U.S. Bank NA LOC)		0.27			10/01/2023		910,000		910,000
Minneapolis & St. Paul MN Housing & Redevelopment Authority Allina Health Systems Project Series B2 (Hospital Revenue, JPMorgan Chase Bank LOC)		0.26			11/15/2035		13,615,000		13,615,000
Minneapolis MN People Serving People Project Series A (Miscellaneous Revenue, U.S. Bank NA LOC)		0.28			10/01/2021		1,255,000		1,255,000
Minnesota Bond Securitization Trust Series S1 (Housing Revenue, PNC Bank NA LOC)		0.46			02/01/2027		1,555,000		1,555,000
Minnesota Bond Securitization Trust Series S2 (Housing Revenue, PNC Bank NA LOC)		0.46			11/01/2028		3,135,000		3,135,000
Minnesota HFA Residential Housing Finance Project Series C (Housing Revenue)		0.28			07/01/2036		6,000,000		6,000,000
Minnesota HFA Series C (Housing Revenue, GO of Agency Insured)		0.28			07/01/2048		5,315,000		5,315,000
Minnesota Higher Education Facilities University of St. Thomas Project Series 5-C (Education Revenue, U.S. Bank NA LOC)		0.29			04/01/2025		7,470,000		7,470,000
St. Anthony MN Landings Silver Lake Project Series 2004-A (Housing Revenue, LaSalle Bank NA LOC)		0.32			10/01/2037		13,400,000		13,400,000
St. Paul MN Port Authority Tax Increment Westgate & Industrial Center Project (Tax Revenue, U.S. Bank NA LOC)		0.24			02/01/2015		1,360,000		1,360,000
									61,015,000

Mississippi: 0.90%
Variable Rate Demand Notes§: 0.90%
Clipper Tax-Exempt Certified Trust Series 2007-32 (GO - State)		0.31			02/01/2016		18,960,000		18,960,000
Merrill Lynch Puttable Option Tax-Exempt Receipts Series MT-659 (Education Revenue, Guaranteed Student Loans Insured) ††		0.44			09/01/2035		10,000,000		10,000,000
Mississippi Development Bank Special Obligation Solar Eclipse Project Series 2006-0153 (GO - Local, U.S. Bank NA LOC)		0.25			03/01/2014		7,455,000		7,455,000
									36,415,000

Missouri: 1.29%
Other Municipal Debt: 0.25%
St. Louis County MO TRAN (Miscellaneous Revenue)		0.45			08/01/2011		10,000,000		10,001,908

Variable Rate Demand Notes§: 1.04%
Clipper Tax-Exempt Certificate Trust Series 2005-14 (Housing Revenue)		0.41			03/01/2038		8,468,000		8,468,000
Greene County MO Stasbourg Estates Project (Housing Revenue, U.S. Bank NA LOC)		0.34			08/01/2038		2,160,000		2,160,000
Kansas City MO IDA Revenue Ewing Marion Kauffman Foundation (Miscellaneous Revenue)		0.28			04/01/2027		4,700,000		4,700,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Missouri Development Finance Board Nelson Gallery Foundation (Miscellaneous Revenue)		0.26	%		12/01/2037	$	3,200,000	$	3,200,000
Missouri HEFA Washington University Project Series B (Education Revenue)		0.20			02/15/2033		500,000		500,000
Missouri State Development Finance Board Ewing Marion Kauffman Project Series A (Miscellaneous Revenue)		0.28			06/01/2037		13,000,000		13,000,000
Missouri State HEFA Ascension Health (Hospital Revenue)		0.24			11/15/2039		6,000,000		6,000,000
St. Charles County MO United Handicap Services (Health Revenue, U.S. Bank NA LOC)		0.40			07/01/2023		4,125,000		4,125,000
									42,153,000

Nebraska: 0.15%
Variable Rate Demand Note§: 0.15%
Nebraska Investment Finance Authority Apple Creek Associates Project Series 1985-A (Housing Revenue, Northern Trust Company LOC)		0.37			09/01/2031		6,190,000		6,190,000

Nevada: 0.26%
Other Municipal Debt: 0.12%
Clark County NV Airport Series E-1 (Airport Revenue)		2.50			06/01/2011		5,000,000		5,007,626

Variable Rate Demand Note§: 0.14%
Clark County NV Las Vegas-McCarran International Airport Series 2010 F-2 (Airport Revenue, Union Bank NA LOC)		0.29			07/01/2022		5,600,000		5,600,000

New Hampshire: 1.29%
Variable Rate Demand Notes§: 1.29%
Clipper Tax-Exempt Certified Trust Series 2005-03 (Housing Revenue)		0.38			02/01/2013		33,350,000		33,350,000
New Hampshire Health & Educational Facilities Authority Dartmouth College Project Series 3069 (Education Revenue) ††		0.26			06/01/2039		6,330,000		6,330,000
New Hampshire HEFA Frisbie Memorial Hospital (Hospital Revenue, TD Bank NA LOC)		0.26			10/01/2036		12,555,000		12,555,000
									52,235,000

New Jersey: 2.01%
Other Municipal Debt: 0.37%
North Brunswick Township NJ BAN (GO - Local)		1.25			08/11/2011		15,000,000		15,037,210

Variable Rate Demand Notes§: 1.64%
Austin Trust Various States Series 2008-3034X (Housing Revenue, FSA Insured) ††		0.32			05/01/2027		2,075,000		2,075,000
JPMorgan Chase PUTTER DRIVER Trust (Tax Revenue) ††		0.27			06/23/2011		8,000,000		8,000,000
New Jersey Clipper Tax-Exempt Certified Trust Series A-2006 (Miscellaneous Revenue)		0.26			12/15/2023		2,425,000		2,425,000
New Jersey Economic Development Authority Arbor Glen of Bridgewater Project Series 2004 (Health Revenue, Sovereign Bank LOC)		0.30			05/15/2033		7,235,000		7,235,000
New Jersey Educational Development Authority Lawrenceville School Project Series B (Education Revenue)		0.23			07/01/2026		1,900,000		1,900,000
New Jersey Higher Education Assistance Authority Student Loan ROC-RR-II-R-11571 (Education Revenue, Assured Guaranty Insured)		0.41			06/01/2016		17,500,000		17,500,000
New Jersey Higher Education Assistance Authority Student Loan ROC-RR-II-R-11853 (Education Revenue, Assured Guaranty Insured) ††		0.41			06/01/2016		16,245,000		16,245,000
New Jersey Lawrenceville School Project (Education Revenue)		0.20			07/01/2031		600,000		600,000
New Jersey PFOTER Series 638 (Education Revenue) ††		0.32			12/01/2024		10,000,000		10,000,000
New Jersey Series 038 (Miscellaneous Revenue, AMBAC Insured)		0.26			12/15/2026		250,000		250,000
									66,230,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
New Mexico: 1.29%
Other Municipal Debt: 0.12%
New Mexico TRAN (Tax Revenue)		2.50	%		06/30/2011	$	5,000,000	$	5,017,709

Variable Rate Demand Notes§: 1.17%
New Mexico Educational Assistance Foundation Series A-1 (Education Revenue, Royal Bank of Canada LOC, Guaranteed Student Loans Insured)		0.30			04/01/2034		6,910,000		6,910,000
New Mexico Educational Assistance Foundation Series A-2 (Education Revenue, Royal Bank of Canada LOC, Guaranteed Student Loans Insured)		0.30			04/01/2034		6,935,000		6,935,000
New Mexico Educational Authority PFOTER Series 637 (Education Revenue, Guaranteed Student Loans Insured)		0.40			04/01/2037		21,110,000		21,110,000
New Mexico Municipal Energy Acquisition Authority Gas Supply Series 2009 (Utilities Revenue)		0.26			11/01/2039		12,400,000		12,400,000
									47,355,000

New York: 4.88%
Other Municipal Debt: 0.65%
Oyster Bay NY BAN Series B (GO - Local)		1.25			08/12/2011		19,000,000		19,050,280
Tarrytown NY USD BAN (GO - Local, State Aid Withholding Insured)		1.50			08/12/2011		7,500,000		7,523,788
									26,574,068

Variable Rate Demand Notes§: 4.23%
Clipper Tax-Exempt Certified Trust Series 2009-85 (Housing Revenue) ††		0.41			09/01/2034		18,795,000		18,795,000
Erie County NY IDAG PUTTER Series 2090 (Miscellaneous Revenue)		0.29			05/01/2015		12,350,000		12,350,000
Monroe County NY IDA Urban Focus LP Project Series 2007 (Housing Revenue, FHLMC Insured)		0.35			02/01/2046		2,395,000		2,395,000
New York HFA Archstone Westbury Housing Project Series 2004-A (Housing Revenue, Bank of America NA LOC)		0.30			11/01/2036		2,400,000		2,400,000
New York HFA ROC RR-II-R 11700 Series B (Housing Revenue) ††		0.32			05/01/2038		6,810,000		6,810,000
New York Mortgage Agency Homeowner ROC RR-II-R 11703 (Housing Revenue) ††		0.31			10/01/2031		10,565,000		10,565,000
New York NY City Housing Development Corporation 1405 Fifth Avenue Apartments Series A (Housing Revenue, CitiBank NA LOC)		0.27			07/01/2039		3,940,000		3,940,000
New York NY City Housing Development Corporation 2007 LaFontaine Avenue Series A (Housing Revenue, CitiBank NA LOC)		0.27			06/01/2037		2,400,000		2,400,000
New York NY City Housing Development Corporation Bruckner Series A (Housing Revenue, Bank of America Corporation LOC)		0.26			11/01/2048		6,700,000		6,700,000
New York NY City Housing Development Corporation Series J-1 (Housing Revenue)		0.48			05/01/2046		8,345,000		8,345,000
New York NY City Municipal Water & Sewer Finance Authority Fiscal Year 2009 Series 3484 (Water & Sewer Revenue) ††		0.27			06/15/2033		24,820,000		24,820,000
New York NY City Municipal Water Finance Various Subordinated Series B-3 (Water & Sewer Revenue)		0.23			06/15/2025		14,980,000		14,980,000
New York NY City Transitional Finance Authority NYC Recovery Series 1 Sub 1C (Tax Revenue)		0.25			11/01/2022		16,710,000		16,710,000
New York NY DRIVER Trust Series 3381 (Housing Revenue) ††		0.37			10/01/2023		2,970,000		2,970,000
New York NY DRIVER Trust Series 3477 (Water & Sewer Revenue) ††		0.26			06/15/2017		4,000,000		4,000,000
New York NY Housing Development Corporation MFHR Series 2008 M (Housing Revenue)		0.48			11/01/2013		5,000,000		5,000,000
New York NY Housing Development Corporation Series 143 ROC RR-II-R 11699 (Housing Revenue) ††		0.32			11/01/2040		6,170,000		6,170,000
New York NY Housing Development Corporation Series 2008-I2 (Housing Revenue)		0.53			11/01/2040		12,720,000		12,720,000
New York State Dormitory Authority NY Law School (Education Revenue, TD Bank NA LOC)		0.22			07/01/2038		2,000,000		2,000,000
New York State Power Authority & GO (Miscellaneous Revenue)		0.32			03/01/2016		6,000,000		6,000,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
New York State Power Authority & GO (Miscellaneous Revenue)		0.32	%		03/01/2020	$	1,000,000	$	1,000,000
									171,070,000

North Carolina: 1.05%
Variable Rate Demand Notes§: 1.05%
Charlotte NC Charlotte Mecklenburg Hospital Authority (Hospital Revenue)		0.23			01/15/2026		15,275,000		15,275,000
North Carolina Capital Finance Agency Wake Forest University Project Series 3070 (Education Revenue) ††		0.27			01/01/2038		5,000,000		5,000,000
North Carolina Education Care Community Healthcare Facilities University Health Systems of Eastern Carolina Series 2008-B-1 (Hospital Revenue, Branch Banking & Trust LOC)		0.26			12/01/2036		4,745,000		4,745,000
North Carolina Educational Facilities Authority Hill Center Project (Education Revenue, Branch Banking & Trust LOC)		0.29			07/01/2028		4,630,000		4,630,000
North Carolina Healthcare Facilities Authority Hospice Alamance Project (Health Revenue, Branch Banking & Trust LOC)		0.29			12/01/2033		4,900,000		4,900,000
Piedmont NC Triad Airport Authority Series A (Airport Revenue, Branch Banking & Trust LOC)		0.23			07/01/2032		3,455,000		3,455,000
Piedmont NC Triad Airport Authority Series B (Airport Revenue, Branch Banking & Trust LOC)		0.25			07/01/2029		4,630,000		4,630,000
									42,635,000

North Dakota: 0.97%
Other Municipal Debt: 0.25%
North Dakota Rural Water Finance Corporation Public Project Construction Notes Series A-4 (Water & Sewer Revenue)		1.50			09/01/2011		10,000,000		10,026,523

Variable Rate Demand Notes§: 0.72%
Fargo ND IDA Cass Clay Creamery Incorporated Project (IDR, CoBank ACB LOC)		0.41			12/01/2012		700,000		700,000
Mandan ND IDA Cloverdale Foods Company Project (IDR, BNC National Bank LOC)		0.50			12/01/2022		2,620,000		2,620,000
North Dakota Housing Finance Agency Project (Housing Revenue)		0.29			07/01/2024		23,100,000		23,100,000
Richland County ND Recovery Zone Facility Minnesota-Dakota Farmers Cooperative Project Series 2010C (Miscellaneous Revenue, CoBank ACB LOC)		0.27			11/01/2028		3,000,000		3,000,000
									29,420,000

Ohio: 2.05%
Variable Rate Demand Notes§: 2.05%
Cleveland-Cuyahoga County OH Port Authority Euclid Avenue Housing Corporation Project (Housing Revenue, U.S. Bank NA LOC)		0.27			06/01/2039		3,000,000		3,000,000
Franklin County OH Health Care Facilities Ohio Presbyterian Series A (Health Revenue, PNC Bank NA LOC)		0.25			07/01/2036		14,800,000		14,800,000
Ohio Air Quality Development Authority Exempt Facilities Andersons Marathon Ethanol LLC Project Series 2007 (Energy Revenue, CoBank ACB LOC)		0.37			09/01/2037		49,500,000		49,500,000
Ohio Air Quality Development Authority Ohio Electric Corporation Project Series D (Utilities Revenue, BK Tokyo-Mitsubishi UFJ LOC)		0.28			02/01/2026		3,570,000		3,570,000
Ohio Air Quality Development Authority Ohio Valley Electric Corporation Project Series B (Utilities Revenue, Bank of Nova Scotia LOC)		0.23			02/01/2026		2,500,000		2,500,000
Princeton OH School District MSTR (GO - Local, NATL-RE Insured)		0.23			12/01/2030		9,480,000		9,480,000
									82,850,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Oklahoma: 0.31%
Variable Rate Demand Notes§: 0.31%
Merrill Lynch PFOTER Series MT-658 (Education Revenue, Guaranteed Student Loans Insured) ††		0.36	%		09/01/2037	$	10,000,000	$	10,000,000
Oklahoma Development Finance Authority ConocoPhillips Project Series B (Energy Revenue)		0.30			08/01/2037		2,500,000		2,500,000
									12,500,000

Oregon: 1.06%
Variable Rate Demand Notes§: 1.06%
Oregon Beef Northwest Feeders Project (IDR, Northwest Farm Credit LOC)		0.46			01/01/2016		825,000		825,000
Oregon Beef Northwest Feeders Project Series 207 (IDR, Northwest Farm Credit LOC)		0.46			01/01/2019		815,000		815,000
Oregon Behlen Manufacturing Company Project (IDR, Bank of America NA LOC)		0.42			06/01/2017		5,500,000		5,500,000
Oregon Health & Science University Series B-2 (Education Revenue, U.S. Bank NA LOC)		0.24			07/01/2027		3,280,000		3,280,000
Portland OR Horizon Air Industries Incorporated Project (Airport Revenue, Bank of America NA LOC)		0.24			06/15/2027		17,300,000		17,300,000
Portland OR Portland International Airport (Port, Airport, & Marina Authority Revenue)		0.26			07/01/2026		15,300,000		15,300,000
									43,020,000

Other: 3.41%
Variable Rate Demand Notes§: 3.41%
Clipper Tax-Exempt Certified Trust Series 2004-04 (GO - State)		0.31			05/01/2013		5,000,000		5,000,000
Clipper Tax-Exempt Certified Trust Series 2004-05 (GO - State, FHLMC Insured)		0.31			10/01/2011		14,500,000		14,500,000
Clipper Tax-Exempt Certified Trust Series 2006-04 (GO - Local, U.S. Bank NA LOC)		0.29			05/01/2013		4,420,000		4,420,000
Clipper Tax-Exempt Certified Trust Series 2007-14 (Miscellaneous Revenue, FHLMC Insured)		0.41			03/01/2012		12,765,000		12,765,000
Clipper Tax-Exempt Certified Trust Series 2009-4 (Miscellaneous Revenue)		0.41			10/01/2033		2,010,945		2,010,945
Merrill Lynch PFOTER Class A (Housing Revenue)		0.36			05/01/2032		20,860,000		20,860,000
Merrill Lynch PFOTER Class A (Housing Revenue)		0.36			05/15/2035		56,740,000		56,740,000
Merrill Lynch PFOTER Class C (Housing Revenue, Bank of Montreal LOC)		0.29			03/01/2040		21,530,000		21,530,000
									137,825,945

Pennsylvania: 3.49%
Variable Rate Demand Notes§: 3.49%
Allegheny County PA Hospital Development Authority University of Pittsburgh Education Center Project Series 2007-A (Hospital Revenue) ††		0.33			02/01/2031		2,790,000		2,790,000
Allegheny County PA Hospital Development Authority University of Pittsburgh Education Center Project Series 2007-B-2 (Hospital Revenue, Royal Bank of Canada LOC) ††		0.27			04/15/2039		4,500,000		4,500,000
Allegheny County PA Hospital Development Authority University of Pittsburgh Education Center Project Series 2010 (Hospital Revenue, PNC Bank NA LOC)		0.24			05/15/2038		4,000,000		4,000,000
Allegheny County PA IDA United Jewish Federation Project Series A (Miscellaneous Revenue, PNC Bank NA LOC)		0.28			10/01/2026		3,342,000		3,342,000
Bethlehem PA Municipal Products Incorporated Bethlehem Area School District Series E-12 (GO - Local, Royal Bank of Canada LOC) ††		0.27			01/05/2012		4,000,000		4,000,000
Delaware County PA IDA United Parcel Services Project (IDR)		0.20			12/01/2015		7,100,000		7,100,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Erie County PA Hospital Authority Health Facilities St. Mary’s Home Erie Project Series 2008-B (Continuing Care Retirement Community, Bank of America NA LOC)		0.30	%		07/01/2038	$	2,100,000	$	2,100,000
Luzerne County PA Series A (Miscellaneous Revenue)		0.50			11/15/2026		10,000,000		10,000,000
Merrill Lynch PFOTER Series 385 (Hospital Revenue)		0.40			08/15/2042		15,640,000		15,640,000
Merrill Lynch PFOTER Series PT-4653 (Housing Revenue) ††		0.33			10/01/2039		3,835,000		3,835,000
Montmery County PA ID ROC RR-II-R 11856 (Hospital Revenue, FHA INS Insured) ††		0.27			02/01/2018		8,040,000		8,040,000
Montmery County PA ID ROC RR-II-R 11867 (Hospital Revenue, FHA INS Insured) ††		0.29			08/01/2030		6,200,000		6,200,000
Pennsylvania EDFA Solid Waste Disposal IESI Corporation (Solid Waste Revenue, Bank of America NA LOC)		0.27			11/01/2028		1,600,000		1,600,000
Pennsylvania Housing Finance Agency (GO - Local)		0.28			10/01/2032		24,000,000		24,000,000
Pennsylvania Turnpike Commission ROC-RR II-R-12259 (Tax Revenue, BHAC-CR AMBAC Insured) ††		0.27			10/01/2013		12,150,000		12,150,000
Pennsylvania Turnpike Commission Series D (Tax Revenue, AGM Insured)		0.40			07/15/2041		4,275,000		4,275,000
Philadelphia PA Hospitals & Higher Education Facilities Childrens Hospital Project Series A (Hospital Revenue)		0.25			02/15/2014		2,400,000		2,400,000
Philadelphia PA School District GO Series 2007-A (GO - Local, Branch Banking & Trust LOC)		0.32			01/04/2029		2,240,000		2,240,000
Philadelphia PA School District Series F (GO - Local, Barclays Bank plc LOC, State Aid Withholding Insured)		0.19			09/01/2030		4,000,000		4,000,000
Southeastern Pennsylvania Transportation Authority (Miscellaneous Revenue, PNC Bank NA LOC)		0.25			03/01/2022		18,940,000		18,940,000
									141,152,000

Puerto Rico: 1.93%
Variable Rate Demand Notes§: 1.93%
Puerto Rico Aqueduct & Sewer Authority Series 2601 (Water & Sewer Revenue, Assured Guaranty Insured)		0.31			07/01/2047		14,000,000		14,000,000
Puerto Rico Commonwealth Aqueduct & Sewer Authority Series 2574 (Water & Sewer Revenue, Assured Guaranty Insured)		0.31			07/01/2047		7,500,000		7,500,000
Puerto Rico Sales Tax Finance Corporation ROC RR-II-R 11851 (Tax Revenue, BHAC-CR FGIC Insured) ††		0.27			02/01/2016		7,500,000		7,500,000
Puerto Rico Sales Tax Finance Corporation Series 3033 (Tax Revenue) ††		0.31			08/01/2050		23,330,000		23,330,000
Puerto Rico Sales Tax Finance Corporation Series 3036 (Tax Revenue)		0.31			08/01/2050		25,830,000		25,830,000
									78,160,000

South Carolina: 0.71%
Variable Rate Demand Notes§: 0.71%
South Carolina Economic Development Authority Anmed Health Project Series C (Hospital Revenue, Branch Banking & Trust LOC)		0.26			02/01/2033		4,980,000		4,980,000
South Carolina Housing Finance & Development Authority PFOTER Wyndham Pointe Apartments Project (Housing Revenue, FHLMC Insured)		0.36			03/21/2019		9,395,000		9,395,000
South Carolina Jobs Economic Development Authority Chambers Richland County Project Series 1997 (IDR, Bank of America NA LOC)		0.36			06/01/2015		5,000,000		5,000,000
South Carolina Transportation Infrastructure Series 1283 (Tax Revenue, BHAC-CR AMBAC Insured)		0.34			04/01/2012		9,550,000		9,550,000
									28,925,000

Tennessee: 1.22%
Other Municipal Debt: 0.09%
Sevier County TN Public Building Authority (Miscellaneous Revenue)		1.25			05/01/2012		3,500,000		3,520,819

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes§: 1.13%
Clarksville TN Public Building Authority Tennessee Municipal Fund Project (Miscellaneous Revenue, Bank of America NA LOC)		0.35	%		10/01/2025	$	1,655,000	$	1,655,000
Franklin County TN Health & Educational Facilities Board University of the South Project Series 1998B (Education Revenue)		0.30			09/01/2018		6,430,000		6,430,000
Municipal Energy Acquisition Corporation PFOTER Tennessee Gas Project Series 1578 (Utilities Revenue)		0.31			12/01/2016		31,840,000		31,840,000
Nashville & Davidson Counties TN HEFA Lipscomb University Project (Education Revenue, FHLB LOC)		0.27			11/01/2028		1,150,000		1,150,000
Sevier County TN Public Building Authority Public Improvement Project Series B-1 (Water & Sewer Revenue, Branch Banking & Trust LOC)		0.29			06/01/2035		4,870,000		4,870,000
									45,945,000

Texas: 10.90%
Other Municipal Debt: 0.04%
Texas TRAN (Tax Revenue)		2.00			08/31/2011		1,690,000		1,699,210

Variable Rate Demand Notes§: 10.86%
Bexar County TX Housing Finance Corporation MFHR Palisades Park Apartments Project (Housing Revenue, FHLMC Insured)		0.26			09/01/2039		4,000,000		4,000,000
Brownsville TX Utility Systems Series DBE-533 (Utilities Revenue, AMBAC Insured)		0.26			09/01/2013		3,500,000		3,500,000
Clipper Tax-Exempt Certified Trust COP Series 2007-23 (Water & Sewer Revenue)		0.31			10/01/2018		1,460,000		1,460,000
Clipper Tax-Exempt Certified Trust Series 2007-44 (Miscellaneous Revenue)		0.31			09/01/2014		28,780,000		28,780,000
Dallam County TX Industrial Development Corporation Hilmar Cheese Company Incorporated Project (Miscellaneous Revenue, Bank of the West LOC)		0.26			08/01/2035		10,000,000		10,000,000
Dallam County TX Industrial Development Corporation Hilmar Cheese Company Incorporated Project Series 2009 (Miscellaneous Revenue, Bank of the West LOC)		0.26			07/01/2032		12,250,000		12,250,000
Dallas TX Area Rapid Transit Sales Tax Revenue (Tax Revenue, AGM-CR AMBAC Insured) ††		0.26			06/01/2015		4,000,000		4,000,000
Forney TX PFOTER (GO - State)		0.25			08/15/2033		10,205,000		10,205,000
Harris County TX Industrial Development Corporation (IDR)		0.12			03/01/2024		6,800,000		6,800,000
Harris County TX Industrial Development Corporation Solid Waste Disposal Deer Park Refining Project (Energy Revenue)		0.28			03/01/2023		5,950,000		5,950,000
Harris County TX Industrial Development Corporation Solid Waste Disposal Deer Park Refining Project Series A (Energy Revenue)		0.23			03/01/2023		4,650,000		4,650,000
Houston TX Housing Finance Corporation PFOTER Kensington Place Apartments Series 2004 (Housing Revenue, FHLMC Insured)		0.36			02/01/2048		12,065,000		12,065,000
Houston TX Housing Finance Corporation PFOTER Sterlingshire Apartments Project Series 2003 A-1 (Housing Revenue, FHLMC Insured)		0.36			04/01/2040		3,570,000		3,570,000
Jewett Economic Development Corporation Nucor Corporation Project (IDR)		0.32			08/01/2038		6,200,000		6,200,000
Port Arthur TX Navigation District Environmental Facilities BASF Corporation Project (Miscellaneous Revenue)		0.42			05/01/2033		12,900,000		12,900,000
Port Arthur TX Navigation District Environmental Facilities BASF Corporation Project Class A (Miscellaneous Revenue)		0.44			04/01/2037		15,000,000		15,000,000
Port Arthur TX Navigation District Environmental Facilities Motiva Enterprises LLC Project Series 2002 (Energy Revenue)		0.34			12/01/2027		22,035,000		22,035,000
Port Arthur TX Navigation District Environmental Facilities Motiva Enterprises Project Series A (Energy Revenue)		0.26			12/01/2039		19,950,000		19,950,000
Port Arthur TX Navigation District Environmental Facilities Motiva Enterprises Project Series B (Energy Revenue)		0.25			12/01/2039		1,600,000		1,600,000
Port Corpus Christi TX Solid Waste Disposal Flint Hills Resources Project Series 2002-A (Energy Revenue)		0.35			07/01/2029		48,500,000		48,500,000
Port Corpus Christi TX Solid Waste Disposal Flint Hills Resources Project Series 2005 (Energy Revenue)		0.40			01/01/2030		20,000,000		20,000,000
Port Corpus Christi TX Solid Waste Disposal Flint Hills Resources Project Series 2006 (Energy Revenue)		0.40			01/01/2030		16,500,000		16,500,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Port Corpus Christi TX Solid Waste Disposal Flint Hills Resources Project Series 2007 (Energy Revenue)		0.40	%		01/01/2032	$	22,500,000	$	22,500,000
Port Corpus Christi TX Solid Waste Disposal Flint Hills Resources Project Series A (Energy Revenue)		0.40			04/01/2028		3,500,000		3,500,000
RBC Municipal Products Incorporated Series E-18 (Hospital Revenue, Royal Bank of Canada LOC) ††		0.27			06/01/2032		7,395,000		7,395,000
San Antonio TX DRIVER Trust Series 3247 (Utilities Revenue) ††		0.26			02/01/2032		2,730,000		2,730,000
San Antonio TX Housing Finance Corporation PFOTER Rosemont at Pleasanton Apartments Project Series 2005 (Housing Revenue, FHLMC Insured)		0.36			03/30/2019		12,845,000		12,845,000
Texas Department of Housing & Community Affairs Costa Mariposa Apartments Project (Housing Revenue, Bank of America NA LOC)		0.28			05/01/2042		6,845,000		6,845,000
Texas Department of Housing & Community Affairs SFHR Series A (Housing Revenue, GNMA/FNMA Insured)		0.27			09/01/2038		7,755,000		7,755,000
Texas Department of Housing Providence at Rush Creek II Apartments Series 2004 (Housing Revenue, FHLMC Insured)		0.36			03/21/2019		8,610,000		8,610,000
Texas Municipal Gas Acquisition & Supply Corporation Series 2848 (Utilities Revenue)		0.33			12/15/2026		75,000,000		75,000,000
Texas Municipal Gas Acquisition & Supply Corporation Series 2849 (Utilities Revenue)		0.33			12/15/2026		11,578,950		11,578,950
Texas Veterans Housing Assistance Project Series II-D (GO - State, Sumitomo Trust & Banking Company LOC)		0.32			12/01/2034		10,790,000		10,790,000
									439,463,950

Utah: 0.04%
Variable Rate Demand Note§: 0.04%
Merrill Lynch PFOTER Class A (Housing Revenue, FHLMC Insured)		0.29			01/01/2032		1,600,000		1,600,000

Virginia: 1.75%
Variable Rate Demand Notes§: 1.75%
Alexandria VA Redevelopment & Housing PFOTER Series C-2 (Housing Revenue, Royal Bank of Canada LOC)		0.38			01/01/2014		17,530,000		17,530,000
Arlington County VA IDA Westover Apartments Series A (IDR)		0.31			08/01/2047		4,000,000		4,000,000
Fairfax County VA IDA Inova Health Project Series A-1 (Hospital Revenue)		0.38			05/15/2039		7,000,000		7,000,000
FHLMC Series M020 Class A (Housing Revenue, FHLMC Insured)		0.31			11/15/2036		25,010,000		25,010,000
Norfolk VA Economic Development Authority Sentra Healthcare Project (Hospital Revenue)		0.38			11/01/2034		5,905,000		5,905,000
Stafford County VA Eclipse Funding Trust Project (Miscellaneous Revenue, U.S. Bank NA LOC)		0.25			08/01/2015		11,400,000		11,400,000
									70,845,000

Washington: 1.01%
Variable Rate Demand Notes§: 1.01%
Chelan County WA Public Utility District No. 1 Chelan Hydro Construction Systems Series 2001-A (Utilities Revenue, BHAC-CR NATL-RE Insured) ††		0.36			01/01/2030		2,770,000		2,770,000
Deutsche Bank Spears Lifers Trust Series DB-446 (GO - Local)		0.26			06/01/2028		2,855,000		2,855,000
King County WA Series 3090 (Water & Sewer Revenue, FSA Insured Morgan Stanley LOC) ††		0.26			01/01/2039		4,790,000		4,790,000
Pierce County WA ED Truss Company Project (IDR, U.S. Bank NA LOC)		0.30			01/01/2020		2,475,000		2,475,000
Port Tacoma WA ROC-RR-II-R 12056 (Port, Airport, & Marina Authority Revenue, FSA-CR FGIC Insured)		0.32			06/26/2014		9,900,000		9,900,000
Washington Series 2650-Z (GO - State, FSA Insured)		0.27			07/01/2013		1,000,000		1,000,000
Washington State (GO - State, FSA-CR FGIC Insured) ††		0.26			01/01/2031		11,625,000		11,625,000
Washington State Health Care Facilities Authority Swedish Health Services Series B (Hospital Revenue, CitiBank NA LOC)		0.25			11/15/2046		5,000,000		5,000,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Yakima County WA Public Corporation Macro Plastics Incorporated Project Series 1996 (IDR, Bank of the West LOC)		0.50	%		12/01/2026	$	620,000	$	620,000
									41,035,000

West Virginia: 0.32%
Variable Rate Demand Notes§: 0.32%
West Virginia Economic Development Authority Appalachian Power Company Series B (Resource Recovery Revenue, Sumitomo Mitsui Banking LOC)		0.28			12/01/2042		3,000,000		3,000,000
West Virginia Economic Development Authority Appalachian Power Company Series B (Resource Recovery Revenue, Mizuho Corporate Bank LOC)		0.33			02/01/2036		7,000,000		7,000,000
West Virginia Economic Development Authority Ohio Power Company Kammer Series B (Utilities Revenue, Bank of Nova Scotia LOC)		0.24			07/01/2014		3,000,000		3,000,000
									13,000,000

Wisconsin: 2.37%
Other Municipal Debt: 0.46%
Wisconsin Rural Water Construction Loan Program Commission Series 2010 (Water & Sewer Revenue)		1.50			11/01/2011		4,550,000		4,570,380
Wisconsin State Health & Educational Facilities (Hospital Revenue, Branch Banking & Trust LOC)		0.42			09/01/2011		14,000,000		14,000,000
									18,570,380

Variable Rate Demand Notes§: 1.91%
Brodhead WI ID Stoughton Trailers Incorporated Project (IDR, Bank One NA LOC)		0.37			08/01/2020		6,800,000		6,800,000
Menomonee Falls WI ID Mero Structures Incorporated Project (IDR, U.S. Bank NA LOC)		0.31			09/01/2021		1,545,000		1,545,000
West Bend WI ID Bestech Tool Corporation Project Series A (IDR, U.S. Bank NA LOC)		0.65			09/01/2019		895,000		895,000
Wisconsin HEFA Capital Lakes Incorporated Project Series A (Health Revenue, KBC Bank NV LOC)		0.27			03/01/2038		3,750,000		3,750,000
Wisconsin Housing & Economic Development Authority Series A (Housing Revenue, GO of Authority Insured)		0.37			05/01/2035		4,620,000		4,620,000
Wisconsin Housing & Economic Development Authority Series A (Housing Revenue, GO of Authority Insured)		0.42			09/01/2037		2,270,000		2,270,000
Wisconsin Housing & Economic Development Authority Series C (GO - Local)		0.32			09/01/2023		10,500,000		10,500,000
Wisconsin Housing & Economic Development Authority Series C (Housing Revenue, GO of Authority Insured)		0.32			03/01/2028		10,005,000		10,005,000
Wisconsin Housing & Economic Development Authority Series C (Housing Revenue, GO of Authority Insured)		0.32			09/01/2035		2,150,000		2,150,000
Wisconsin Housing & Economic Development Authority Series E (Housing Revenue, GO of Authority Insured)		0.30			09/01/2038		11,980,000		11,980,000
Wisconsin Public Power PUTTER Series 1232 (Utilities Revenue, BHAC-CR AMBAC Insured)		0.34			07/01/2013		8,990,000		8,990,000
Wisconsin State HEFA Aurora Health Care Series A (Hospital Revenue, Bank of Montreal LOC)		0.22			04/01/2028		13,795,000		13,795,000
									77,300,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL CASH MANAGEMENT MONEY MARKET FUND


Security Name			Interest Rate			Maturity Date		Principal		Value
Wyoming: 0.97%
Variable Rate Demand Notes§: 0.97%
Sublette County WY Pollution Control Revenue Exxon Project Series A (Energy Revenue)				0.17	%		07/01/2017	$	11,500,000	$	11,500,000
Sublette County WY Pollution Control Revenue Exxon Project Series B (Energy Revenue)				0.17			07/01/2017		11,000,000		11,000,000
Wyoming CDA Series 1424-R (Housing Revenue)				0.40			06/01/2014		9,535,000		9,535,000
Wyoming Student Loan Corporation (Education Revenue, Royal Bank of Canada LOC)				0.26			12/01/2043		7,100,000		7,100,000
											39,135,000

Total Municipal Bonds and Notes (Cost $3,966,564,747)											3,966,564,747

Total Investments in Securities (Cost $4,033,464,747)*	99.66	%									4,033,464,747
Other Assets and Liabilities, Net	0.34										13,672,919

Total Net Assets	100.00	%								$	4,047,137,666

§	These securities are subject to a demand feature which reduces the effective maturity.

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

(q)

Credit enhancement is provided by an affiliate.

(i)

Illiquid security.

*	Cost for federal income tax purposes is substantially the same as for financial reporting purposes.

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Municipal Bonds and Notes: 98.62%
Alabama: 4.14%
Variable Rate Demand Notes§: 4.14%
Birmingham AL Special Care Facilities Finance Authority Ascension Health Series 2006-C (Hospital Revenue) ††		0.26	%		05/15/2015	$	23,625,000	$	23,625,000
Calhoun County AL Economic Development Council Southern Bag Expansion Project Series 1998 (IDR, BankBoston NA LOC)		0.54			03/01/2013		1,150,000		1,150,000
Homewood AL Educational Building Authority (Education Revenue, Branch Banking & Trust LOC)		0.26			12/01/2043		5,000,000		5,000,000
Lower Alabama Gas District Supply Revenue Series A (Utilities Revenue, Societe Generale LOC)		0.27			11/01/2027		8,000,000		8,000,000
Mobile AL LLC Project Series 2006 (IDR)		0.31			08/01/2031		6,000,000		6,000,000
Mobile County AL IDA Series B (Energy Revenue, Svenska HandelsBanken LOC)		0.26			07/01/2040		22,500,000		22,500,000
Southeast Alabama Gas District Alabama Supply Project Series 2007-A (Utilities Revenue)		0.24			08/01/2027		55,200,000		55,200,000
Sylacauga AL Harrells Fertilizer Incorporated (IDR, Bank of America NA LOC)		0.55			04/01/2021		2,000,000		2,000,000
Tuscaloosa County AL IDA Tax Exempt Gulf Opportunity Zone Hunt Refining Project Series 2008-A (Energy Revenue, JPMorgan Chase Bank LOC)		0.30			03/01/2027		10,000,000		10,000,000
Tuscaloosa County AL IDA Tax Exempt Gulf Opportunity Zone Hunt Refining Project Series 2008-C (Energy Revenue, JPMorgan Chase Bank LOC)		0.30			12/01/2027		10,000,000		10,000,000
									143,475,000

Arizona: 0.97%
Variable Rate Demand Notes§: 0.97%
Arizona Health Facilities Authority Hospital System BNP 2007-008 (Hospital Revenue)		0.36			02/01/2042		12,390,000		12,390,000
Maricopa County AZ IDA MFHR Village at Sun Valley Apartments Project (Housing Revenue, FHLMC Insured)		0.29			11/01/2043		3,080,000		3,080,000
Maricopa County AZ IDA Solid Waste Disposal Ambian Dairy LLC Project Series 2008 (Resource Recovery Revenue, Farm Credit Services LOC)		0.41			11/01/2033		3,600,000		3,600,000
Maricopa County AZ IDA Solid Waste Disposal Series 2006 (Resource Recovery Revenue, Farm Credit Services America LOC)		0.41			08/01/2026		2,500,000		2,500,000
Maricopa County AZ IDA Trans-Matic Manufacturing Production Project (IDR)		0.31			10/01/2026		3,225,000		3,225,000
Phoenix AZ IDA Series A (Housing Revenue, Bank of America NA LOC)		0.31			04/01/2033		500,000		500,000
Pima County AZ IDA Charter School Delaware Military Academy Project Series 2008 (Education Revenue, PNC Bank NA LOC)		0.28			09/01/2038		4,900,000		4,900,000
Pima County AZ IDA Eastside Apartments Series B (Housing Revenue, FNMA Insured)		0.32			02/15/2031		800,000		800,000
Pinal County AZ IDA Solid Waste Disposal Feenstra Investments LLC Project Series 2002 (Resource Recovery Revenue, Farm Credit Services Southwest LOC)		0.41			08/01/2027		1,250,000		1,250,000
Pinal County AZ IDA Solid Waste Disposal Sorio Bravo Dairy Farm LLC Series 2002 (IDR, Farm Credit Services Southwest LOC)		0.41			05/01/2027		1,250,000		1,250,000
									33,495,000

California: 4.24%
Variable Rate Demand Notes§: 4.24%
ABAG Finance Authority for Nonprofit Corporation California Oshman Family Jewish Community (Miscellaneous Revenue, LaSalle National Bank NA LOC)		0.25			06/01/2037		9,050,000		9,050,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
ABAG Finance Authority for Nonprofit Corporation California Sharp Healthcare Series D (Hospital Revenue, CitiBank NA LOC)		0.24	%		08/01/2035	$	100,000	$	100,000
ABAG Finance Authority for Nonprofit Corporation California Valley Christian Schools (Education Revenue, Bank of America NA LOC)		0.26			07/01/2039		19,800,000		19,800,000
ABAG Finance Authority for Nonprofit Corporations California Zoological Society of San Diego (Miscellaneous Revenue, Bank of America NA LOC)		0.26			10/01/2034		2,900,000		2,900,000
California CDA MFHR Glen Haven Apartments Series 2002 (Housing Revenue, FNMA Insured)		0.26			04/15/2035		1,200,000		1,200,000
California CDA Pennsylvania Valley Apartment Authority Project Series 2001 (Housing Revenue, FHLMC Insured)		0.35			08/01/2033		1,685,000		1,685,000
California CDA Refunding MFHR PUTTER Series 2680 (Housing Revenue, JPMorgan Chase Bank LOC)		0.36			05/15/2018		900,000		900,000
California CDA Refunding MFHR Series 381 (Housing Revenue, FHLMC Insured)		0.35			02/01/2050		600,000		600,000
California Infrastructure & Economic Development Bank ROC-RR-II-R-11527 (Transportation Revenue, AMBAC Insured)		0.24			07/01/2030		1,200,000		1,200,000
California Municipal Finance Authority Pacific Institute Series A (Housing Revenue, California Bank & Trust LOC)		0.23			08/01/2037		1,850,000		1,850,000
California PCFA Pacific Gas & Electric Series C (IDR, JPMorgan Chase Bank LOC)		0.26			11/01/2026		4,000,000		4,000,000
California Refunding GO Branch Banking & Trust Company Municipal Trust Series 2000 (GO - State, Branch Banking & Trust LOC, FSA Insured)		0.41			07/10/2027		1,565,000		1,565,000
California State Kindergarten Series B-2 (Miscellaneous Revenue, CitiBank NA LOC)		0.22			05/01/2034		1,750,000		1,750,000
California State Series A Subseries C-2 (GO - State)		0.24			05/01/2033		400,000		400,000
California State Series A2 (GO - State, Bank of Montreal LOC)		0.21			05/01/2033		10,725,000		10,725,000
California State Series A3 (GO - State, Bank of Montreal LOC)		0.20			05/01/2033		5,850,000		5,850,000
California Statewide CDA Belmont Project Series F (Housing Revenue, FNMA Insured)		0.25			06/15/2038		2,750,000		2,750,000
California Statewide CDA Gas Supply (Energy Revenue)		0.25			11/01/2040		20,000,000		20,000,000
California Statewide CDA Tyrella Gardens Apartments Series B (Housing Revenue, CitiBank NA LOC)		0.30			06/01/2036		395,000		395,000
Deutsche Bank Spears Lifers Trust DBE-395 (Water & Sewer Revenue, AMBAC Insured)		0.25			09/01/2031		14,680,000		14,680,000
Deutsche Bank Spears Lifers Trust Series 445 (GO - Local, FSA Insured)		0.26			08/01/2032		11,570,000		11,570,000
Los Angeles CA Airport PUTTER Series 2000-A (Airport Revenue) ††		0.34			11/15/2025		8,000,000		8,000,000
Los Angeles CA Power System Subseries A3 (Utilities Revenue)		0.22			07/01/2035		550,000		550,000
Los Angeles County CA CDA MFHR Met Apartments Project (Housing Revenue, FNMA Insured)		0.24			12/15/2024		2,150,000		2,150,000
Oakland CA Redevelopment Authority MFHR (Housing Revenue, FHLMC Insured)		0.35			10/01/2050		400,000		400,000
Riverside CA Multifamily Sierra A PFOTER (Housing Revenue, Swiss Bank LOC)		0.35			05/01/2027		1,090,000		1,090,000
Sacramento County CA Housing Authority Arlington Creek Apartment Series I (Housing Revenue, FNMA Insured)		0.26			05/15/2034		1,650,000		1,650,000
San Francisco CA City & County RDA MFHR Leland Polk Senior Community Series A (Housing Revenue, CitiBank NA LOC)		0.28			12/01/2019		400,000		400,000
San Leandro CA Carlton Plaza Series A (Housing Revenue, FNMA Insured)		0.27			09/15/2032		2,500,000		2,500,000
Southern California Public Power Authority Magnolia Power Project Series 2009-1-A (Utilities Revenue, KBC Bank NV LOC)		0.26			07/01/2036		1,495,000		1,495,000
Victorville CA Joint Powers Finance Authority Project A (Utilities Revenue, BNP Paribas LOC)		1.75			05/01/2040		7,970,000		7,970,000
Whittier CA Whittier College Series 2008 (Education Revenue, Bank of America NA LOC)		0.27			12/01/2038		7,655,000		7,655,000
									146,830,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Colorado: 1.16%
Variable Rate Demand Notes§: 1.16%
Colorado Agriculture Development Authority Garrett & Carla Devries Project Series 2006 (Miscellaneous Revenue, Bank of the West LOC)		0.46	%		06/01/2031	$	3,300,000	$	3,300,000
Colorado ECFA Vail Valley Foundation Project Series 2007 (Miscellaneous Revenue, U.S. Bank NA LOC)		0.27			12/01/2037		5,700,000		5,700,000
Colorado HFA Ready Foods Incorporated Project Series A (IDR, U.S. Bank NA LOC)		0.31			01/01/2032		3,730,000		3,730,000
Colorado HFA Worldwest LLP Project Series 1999-A (IDR, Mercantile Bank LOC) ††		0.63			09/01/2023		2,405,000		2,405,000
Commerce City CO Northern Infrastructure General Improvement District (GO - Local, U.S. Bank NA LOC)		0.28			12/01/2028		1,500,000		1,500,000
Denver CO City & County Refunding MFHR Garden Court Community Project Series 2008 (Housing Revenue, FNMA Insured)		0.29			12/15/2038		8,150,000		8,150,000
Denver CO City & County Western Stock Show Project (Miscellaneous Revenue, U.S. Bank NA LOC)		0.34			07/01/2029		1,820,000		1,820,000
Denver CO Urban Renewal Authority Tax Increment Downtown Denver Project Series A-1 (Tax Revenue, U.S. Bank NA LOC)		0.26			12/01/2025		3,850,000		3,850,000
Fort Collins CO Economic Development Oakridge Project Series A (Health Revenue, U.S. Bank NA LOC)		0.30			12/01/2032		1,000,000		1,000,000
Harvest Junction CO Metropolitan District GO Series 2006 (GO - Local, U.S. Bank NA LOC)		0.32			12/01/2036		3,360,000		3,360,000
Hudson CO Series A (IDR, U.S. Bank NA LOC)		0.40			11/01/2020		1,250,000		1,250,000
Meridian Ranch CO Metropolitan District GO Series 2009 (GO - Local, U.S. Bank NA LOC)		0.28			12/01/2038		4,270,000		4,270,000
									40,335,000

Delaware: 1.61%
Variable Rate Demand Notes§: 1.61%
Delaware State Economic Development Authority Clean Power Project Series 1997-D (Resource Recovery Revenue)		0.28			08/01/2029		33,700,000		33,700,000
Delaware State Economic Development Authority Delaware Clean Power Project Series 1997-C (Resource Recovery Revenue)		0.25			08/01/2029		14,600,000		14,600,000
Delaware State Health Facilities Authority Series B (Hospital Revenue, PNC Bank NA LOC)		0.25			07/01/2039		7,360,000		7,360,000
									55,660,000

District of Columbia: 0.45%
Other Municipal Debt: 0.15%
District of Columbia Tax & Revenue Anticipate Notes (Tax Revenue)		2.00			09/30/2011		5,000,000		5,033,377

Variable Rate Demand Notes§: 0.30%
District of Columbia Enterprise Zone 14th & Irving (Miscellaneous Revenue, Bank of America NA LOC)		0.59			05/01/2022		1,795,000		1,795,000
District of Columbia Wesley Theological Seminary Issue Series 2008-A (Education Revenue, PNC Bank NA LOC)		0.28			12/01/2048		4,910,000		4,910,000
Metropolitan Washington DC Airport Authority Series 2855 (Airport Revenue, FSA-CR FGIC Insured)		0.38			10/01/2014		3,755,000		3,755,000
									10,460,000

Florida: 6.74%
Variable Rate Demand Notes§: 6.74%
Alachua County FL Florida Rock Project (IDR, Bank of America NA LOC)		0.44			11/01/2022		1,850,000		1,850,000
Alachua County FL HFA MFHR Santa Fe Apartments Project Series 2008 (Housing Revenue, FNMA LOC)		0.27			04/15/2041		7,400,000		7,400,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Alachua County FL HFA MFHR University Cove Apartments Project (Housing Revenue, FNMA Insured)		0.30	%		06/15/2034	$	4,230,000	$	4,230,000
Brevard County FL HFA MFHR Shore View Apartments Project Series 1995 (Housing Revenue, Harris Trust & Savings Bank LOC)		0.29			02/01/2015		2,200,000		2,200,000
Deutsche Bank FL Spears Lifers Trust Series DB-553 (Miscellaneous Revenue, FGIC Insured)		0.26			08/01/2022		2,825,000		2,825,000
Deutsche Bank FL Spears Lifers Trust Series DB-563 (Miscellaneous Revenue, FSA Insured)		0.31			10/01/2022		5,660,000		5,660,000
Escambia County FL Daw’s Manufacturing Company Incorporated Project (IDR, Bank of America NA LOC)		0.33			02/01/2017		1,905,000		1,905,000
Florida Housing Finance Corporation Brentwood Club Apartments Series A-1 (Housing Revenue, FNMA LOC)		0.27			01/15/2035		4,545,000		4,545,000
Florida Housing Finance Corporation MFHR College Park Apartments Series 1999 (Housing Revenue, FHLMC Insured)		0.30			07/01/2036		9,475,000		9,475,000
Florida Housing Finance Corporation MFHR Mariner’s Cay Apartments Series 2008-M (Housing Revenue, FNMA Insured)		0.27			12/15/2041		1,860,000		1,860,000
Florida Housing Finance Corporation Pinewood Pointe Series C (Housing Revenue)		0.54			06/01/2044		9,515,000		9,515,000
Greater Orlando FL Aviation Authority Flight Safety Project Series A (Airport Revenue)		0.27			10/01/2023		6,400,000		6,400,000
Greater Orlando FL Aviation Authority Flight Safety Project Series B (Airport Revenue)		0.27			10/01/2035		6,900,000		6,900,000
Highlands County FL HFFA Hospital Adventist Health Systems Project Series 2003-C (Hospital Revenue)		0.24			11/15/2021		12,095,000		12,095,000
Hillsborough County FL Aviation Authority Tampa International Airport PUTTER Series 2008-A (Airport Revenue, Assured Guaranty Insured) ††		0.41			10/01/2032		8,645,000		8,645,000
Jacksonville FL HFA MFHR Christine Cove Apartments (Housing Revenue, California Bank & Trust LOC)		0.30			09/15/2038		1,230,000		1,230,000
Jacksonville FL HFA MFHR St. Augustine Apartments Project Series 2006 (Housing Revenue, FNMA Insured)		0.27			07/15/2033		3,300,000		3,300,000
Jacksonville FL HFFA Hospital Series A (Hospital Revenue, Bank of America NA LOC)		0.25			08/15/2033		4,440,000		4,440,000
Lake County FL Capital Improvement Deutsche Bank Spears Trust Series 2007 (Tax Revenue, AMBAC Insured)		0.26			06/01/2037		6,942,000		6,942,000
Lee County FL HFA SFHR Series 2908Z (Housing Revenue, GNMA/FNMA Insured)		0.41			09/01/2015		3,555,000		3,555,000
Lee County FL HFA SFHR Series 2909Z (Housing Revenue, GNMA/FNMA Insured)		0.41			09/01/2015		3,560,000		3,560,000
Miami-Dade County FL Educational Facilities Authority Carlos Albizu University Project Series 2000 (Education Revenue, Bank of America NA LOC)		0.31			12/01/2025		5,700,000		5,700,000
Miami-Dade County FL Educational Facilities Authority Eagle-20070043 Class A (Education Revenue, BHAC-CR AMBAC Insured)		0.27			04/01/2037		9,900,000		9,900,000
Miami-Dade County FL IDA Reflectone Incorporated Project Series 2000-A (IDR, Royal Bank of Canada LOC)		0.32			03/01/2024		11,000,000		11,000,000
Orange County FL Health Facilities Authority Adventist Health System (Health Revenue)		0.23			11/15/2026		5,000,000		5,000,000
Orange County FL HFA MFHR Lakeside Pointe Apartments Series B (Housing Revenue, FNMA Insured)		0.30			05/15/2038		7,030,000		7,030,000
Orange County FL HFA MFHR Marbella Pointe Series 2007-A (Housing Revenue, FHLB LOC)		0.30			04/15/2040		7,650,000		7,650,000
Pasco County FL PAC-MED Incorporated Project (IDR, Bank of America NA LOC)		0.49			08/01/2017		1,000,000		1,000,000
Pinellas County FL Health Facilities Authority BayCare Health Series A-1 (Hospital Revenue, U.S. Bank NA LOC)		0.22			11/01/2038		52,950,000		52,950,000
Pinellas County FL IDR Neighborly Care Network Project Series 2008 (Miscellaneous Revenue, Branch Banking & Trust LOC)		0.29			08/01/2028		4,930,000		4,930,000
Polk County FL IDA HCFR Winter Haven Hospital Series B (Hospital Revenue, PNC Bank NA LOC)		0.26			09/01/2034		5,400,000		5,400,000
Polk County FL IDA HCFR Winter Haven Hospital Series C (Hospital Revenue, PNC Bank NA LOC)		0.26			09/01/2036		4,570,000		4,570,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Polk County FL IDA Sun Orchard Florida Incorporated Project Series 1999 (IDR, U.S. Bank NA LOC)		0.87	%		01/01/2019	$	795,000	$	795,000
RBC Municipal Products Incorporated Trust Series E2 (Housing Revenue, Royal Bank of Canada LOC)		0.33			01/01/2034		1,580,000		1,580,000
Sarasota County FL Planned Parenthood Incorporated Project (Miscellaneous Revenue, Harris NA LOC)		0.31			10/01/2041		1,700,000		1,700,000
South Florida Water Management District ROC-RR-II-R-12313 (Water & Sewer Revenue, AGM-CR AMBAC Insured) ††		0.26			04/01/2015		3,400,000		3,400,000
Tallahassee FL Rose Printing Company Incorporated Project Series A (IDR, Branch Banking & Trust LOC)		0.37			10/01/2015		1,975,000		1,975,000
University of South Florida Research Foundation Technology Center Project Series B (Education Revenue, Bank of America NA LOC)		0.29			12/01/2019		600,000		600,000
									233,712,000

Georgia: 2.33%
Variable Rate Demand Notes§: 2.33%
Atkinson & Coffee Counties Joint Development Authority GA Solid Waste Langboard Incorporated Project Series 2008 (Resource Recovery Revenue, CoBank ACB LOC)		0.41			11/01/2033		16,800,000		16,800,000
Atlanta GA Development Authority Perkins Will Incorporated Project (Miscellaneous Revenue, Harris NA LOC)		0.28			11/01/2030		2,900,000		2,900,000
Carroll County GA Development Authority Royal Metal Products Incorporated Project Series 2007 (IDR, Branch Banking & Trust LOC)		0.37			01/18/2027		2,455,000		2,455,000
Cobb County GA IDA Standex International Corporation Project (IDR, Bank of America NA LOC)		0.69			01/01/2018		3,300,000		3,300,000
Fulton County GA Development Authority St. George Village Project (Health Revenue, Bank of America NA LOC)		0.29			04/01/2034		3,930,000		3,930,000
Georgia State Port Authority (Port, Airport, & Marina Authority Revenue, Branch Banking & Trust LOC)		0.37			06/01/2022		3,600,000		3,600,000
Georgia State Port Authority (Port, Airport, & Marina Authority Revenue, Branch Banking & Trust LOC)		0.37			10/01/2023		3,660,000		3,660,000
Main Street Natural Gas Incorporated Gas Project Series A (Utilities Revenue)		0.26			08/01/2040		18,300,000		18,300,000
Metropolitan Atlanta Rapid Transportation Authority Sales Tax Series P (Tax Revenue, Societe Generale LOC, AMBAC Insured) ††		0.26			07/01/2020		18,605,000		18,605,000
Private Colleges and Universities Authority of Georgia Mercer University Project Series 2003 (Education Revenue, Branch Banking & Trust LOC)		0.27			10/01/2032		1,855,000		1,855,000
Private Colleges and Universities Authority of Georgia Mercer University Project Series 2006-A (Education Revenue, Branch Banking & Trust LOC)		0.27			10/01/2036		5,500,000		5,500,000
									80,905,000

Idaho: 0.82%
Variable Rate Demand Notes§: 0.82%
Cassia County ID Industrial Development Corporation East Valley Cattle LLC Project Series 2006 (Miscellaneous Revenue)		0.31			08/01/2026		7,000,000		7,000,000
Cassia County ID Industrial Development Corporation Vance Dairy Construction Project Series 2007 (Miscellaneous Revenue, Northwest Farm Credit LOC)		0.46			06/01/2027		2,000,000		2,000,000
Jerome County ID Economic Development Corporation Davisco Foods International Project Series 2009 (Miscellaneous Revenue, Bank of Montreal LOC)		0.26			12/01/2029		19,420,000		19,420,000
									28,420,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Illinois: 4.70%
Variable Rate Demand Notes§: 4.70%
Austin Trust Various States Various Certificates Bank of America Series 2008-1098 (Hospital Revenue, Assured Guaranty Insured)		0.36	%		08/15/2047	$	3,180,000	$	3,180,000
Chicago IL Enterprise Zone Gardner Gibson Project (IDR, Harris Trust & Savings Bank LOC)		0.35			07/01/2033		3,240,000		3,240,000
Chicago IL Midway Airport Series C (Airport Revenue, Morgan Stanley Bank LOC)		0.29			01/01/2035		10,000,000		10,000,000
Chicago IL Municipal Securitization Trust Receipts GO Class A Series 56 (GO - Local, Societe Generale LOC, FGIC Insured)		0.26			01/01/2030		3,270,000		3,270,000
Chicago IL O’Hare International Airport Deutsche Bank Spears Trust Series 2005-A (Airport Revenue, AMBAC Insured)		0.26			01/01/2022		2,175,000		2,175,000
Chicago IL Project Series B-2 (Tax Revenue)		0.27			01/01/2034		13,850,000		13,850,000
Chicago IL ROC RR II R-11940 (Tax Revenue) ††		0.31			07/01/2028		1,400,000		1,400,000
Chicago IL Series F (Tax Revenue)		0.50			01/01/2042		4,000,000		4,000,000
Chicago IL Tax Increment Stockyards Industrial Commercial Redevelopment Project Series A (Tax Revenue, Northern Trust Company LOC)		0.30			12/01/2011		1,560,000		1,560,000
Chicago IL Tax Increment Stockyards Industrial Commercial Redevelopment Project Series B (Tax Revenue, Northern Trust Company LOC)		0.30			12/01/2014		1,975,000		1,975,000
Chicago IL Wastewater Transmission ROC RR II R-720PB (Water & Sewer Revenue, FSA, FGIC Insured)		0.30			01/01/2015		3,930,000		3,930,000
City of Chicago IL (Tax Revenue)		0.27			01/01/2034		2,100,000		2,100,000
Cook County IL Series 559 (Tax Revenue, NATL-RE Insured)		0.31			05/15/2012		2,665,000		2,665,000
East Peoria IL Commercial Development Kroger Company Project Series 2003 (IDR, U.S. Bank NA LOC)		0.33			12/01/2013		3,125,000		3,125,000
Hamilton IL Hamilton Memorial Hospital District Project Series 2007 (Hospital Revenue, Sovereign Bank LOC)		0.55			11/01/2037		17,935,000		17,935,000
Illinois Development Finance Authority Glenwood School for Boys Series 1998 (Miscellaneous Revenue, Harris Trust & Savings Bank LOC)		0.28			02/01/2033		650,000		650,000
Illinois Development Finance Authority MCL Incorporated Project (IDR)		0.67			06/01/2017		2,215,000		2,215,000
Illinois Development Finance Authority PCR A.E. Staley Manufacturing Company Project Series 1985 (IDR, RaboBank International LOC)		0.27			12/01/2016		7,500,000		7,500,000
Illinois Development Finance Authority Residential Rental Harris Pavilion Project Series 1994 (Housing Revenue, FHLMC Insured)		0.30			04/01/2024		6,450,000		6,450,000
Illinois Finance Authority Easter Seals Metro Chicago Incorporated Project Series 2007 (Miscellaneous Revenue, Harris NA LOC)		0.29			04/01/2037		1,300,000		1,300,000
Illinois Finance Authority Elmhurst Memorial Healthcare Series D (Hospital Revenue, Northern Trust Company LOC)		0.25			01/01/2048		3,000,000		3,000,000
Illinois Finance Authority International Ink Company (IDR, JPMorgan Chase Bank LOC)		0.37			01/01/2034		830,000		830,000
Illinois Finance Authority Merug LLC Series B (IDR, JPMorgan Chase Bank LOC)		0.67			12/01/2018		645,000		645,000
Illinois Finance Authority Resurrection Health Project Series 2005-B (Hospital Revenue, JPMorgan Chase Bank LOC)		0.27			05/15/2035		10,110,000		10,110,000
Illinois Housing Development Authority Homeowner Mortgage (Housing Revenue)		0.28			08/01/2035		8,600,000		8,600,000
Illinois Regional Transit Authority MSTR Series 55 Class A (Tax Revenue, Societe Generale LOC, FGIC GO of Authority Insured)		0.26			11/01/2021		2,420,000		2,420,000
Illinois State Toll Highway Authority Priority RMKT-A- 2A (Transportation Revenue)		0.29			07/01/2030		5,500,000		5,500,000
Lake County IL Brown Paper Goods Project (IDR, Bank One NA LOC)		0.67			10/01/2021		1,240,000		1,240,000
Lake County IL Countryside Landfill Incorporated (Resource Recovery Revenue, JPMorgan Chase Bank LOC)		0.31			04/01/2021		3,470,000		3,470,000
Lake County IL Northpoint Association (IDR, Northern Trust Company LOC)		0.37			07/01/2029		2,600,000		2,600,000
Lake Villa IL Allendale Association Project (Health Revenue, LaSalle Bank NA LOC)		0.31			10/01/2026		1,010,000		1,010,000
Lake Zurich IL Rose RD LLC Project (IDR, Bank of New York LOC)		0.67			12/01/2029		1,300,000		1,300,000
Metropolitan Pier & Exposition Authority Series 3221 (Tax Revenue) ††		0.26			06/15/2050		12,500,000		12,500,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Schaumburg IL GO ROC-RR-II-R-11698 (GO - Local, BHAC-CR FGIC Insured) ††		0.26	%		12/01/2032	$	5,200,000	$	5,200,000
Skokie IL Economic Development Revenue Skokie Fashion Square Project Series 1984 (IDR, Bank of America NA LOC)		0.66			12/01/2014		1,850,000		1,850,000
Warren County IL Monmouth College Project (Education Revenue, PNC Bank NA LOC)		0.28			12/01/2032		9,145,000		9,145,000
West Frankfort IL Kroger Company Series 2004 (IDR, U.S. Bank NA LOC)		0.33			11/01/2012		800,000		800,000
									162,740,000

Indiana: 1.70%
Variable Rate Demand Notes§: 1.70%
City of Crawfordsville IN Economic Development (IDR, Bank of America NA LOC)		0.33			10/01/2018		800,000		800,000
Greensburg IN MFHR Community Partners Village II Project Series 2002 (Housing Revenue, FHLB LOC)		0.29			09/01/2029		2,540,000		2,540,000
Indiana Development Finance Authority Goodwill Industries Central Project Series 1996 (IDR, JPMorgan Chase Bank LOC)		0.34			06/01/2016		885,000		885,000
Indiana Finance Authority Health Systems Sisters of St. Francis Health Services Incorporated Project Series 2009-A (Hospital Revenue) ††		0.33			11/01/2033		5,000,000		5,000,000
Indiana HEFA Clarian Health Obligated Group Series 2005-D (Hospital Revenue, Branch Banking & Trust LOC)		0.26			02/15/2030		955,000		955,000
Indiana HEFA Clarian Health Series C (Hospital Revenue, Branch Banking & Trust LOC)		0.25			02/15/2030		2,800,000		2,800,000
Indiana HFFA Revenue Fayette Memorial Hospital Association Series A (Hospital Revenue, U.S. Bank NA LOC)		0.28			10/01/2032		970,000		970,000
Indiana State Development Finance Authority Shelby Gravel Incorporated Project (IDR)		0.36			10/01/2017		1,740,000		1,740,000
Lafayette IN Solid Water Disposal Tate & Lyle Ingredients Project Series 2006 (Miscellaneous Revenue)		0.31			09/01/2028		24,200,000		24,200,000
Noblesville IN Greystone Apartments Project Series B (Housing Revenue, FHLB LOC)		0.29			03/01/2041		1,490,000		1,490,000
St. Joseph County IN Economic Development Revenue Hannah & Friends Project Series 2007 (Miscellaneous Revenue, LaSalle Bank Midwest LOC)		0.44			11/01/2035		2,075,000		2,075,000
St. Joseph County IN Midcorr Land Development LLC Project (IDR, National City Bank LOC)		0.36			10/01/2023		2,550,000		2,550,000
Valparaiso IN Economic Development Pines Village Retirement Community Project Series 2008 (Health Revenue, Centier Bank LOC)		0.29			05/01/2038		10,395,000		10,395,000
Wabash IN Economic Development Revenue Martin Yale Industries Project Series 1998 (IDR, Bank One Indiana NA LOC)		0.67			09/01/2028		2,700,000		2,700,000
									59,100,000

Iowa: 1.07%
Variable Rate Demand Notes§: 1.07%
Des Moines IA Elliot Aviation Project (Airport Revenue, U.S. Bank NA LOC)		0.29			08/01/2027		5,370,000		5,370,000
Iowa Finance Authority Industrial Development (IDR, Bank of America NA LOC)		0.47			06/01/2028		1,490,000		1,490,000
Iowa Finance Authority Interwest Project Series 2001 (IDR, CoBank ACB LOC)		0.41			11/01/2016		2,030,000		2,030,000
Iowa Finance Authority Randy & Ronnie Hunt Partnership Project Series 2009 (Miscellaneous Revenue, Farm Credit Services LOC)		0.26			02/01/2027		3,250,000		3,250,000
Iowa Finance Authority SFHR Series 2006-F (Housing Revenue, GNMA/FNMA Insured)		0.28			07/01/2036		12,000,000		12,000,000
Iowa Finance Authority Solid Waste Disposal Real Estate Iowa One Project Series 2006 (Resource Recovery Revenue)		0.31			10/01/2031		7,700,000		7,700,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Iowa Higher Education Loan Authority Private Colleges Ambrose (Education Revenue, Northern Trust Company LOC)		0.28	%		04/01/2033	$	2,700,000	$	2,700,000
Iowa Higher Education Loan Authority University of Dubuque (Education Revenue, Northern Trust Company LOC)		0.28			04/01/2035		750,000		750,000
Le Mars IA Feuerhelm Properties LP Project Series 2000-A (IDR, Farm Credit Services LOC)		0.46			03/01/2016		1,850,000		1,850,000
									37,140,000

Kansas: 0.33%
Variable Rate Demand Notes§: 0.33%
Dodge City KS Farmland National Beef Project Series 1999 (IDR)		0.31			02/01/2029		1,000,000		1,000,000
Kansas State Development Finance Authority Adventist Health Sunbelt Series C (Health Revenue, Royal Bank of Canada LOC)		0.23			11/15/2034		2,000,000		2,000,000
Olathe KS Diamant Boart Series A (IDR, Svenska HandelsBanken LOC)		0.41			03/01/2027		1,000,000		1,000,000
Olathe KS Insulite Project Series 2000 (IDR, FirStar Bank NA LOC)		0.37			06/01/2020		910,000		910,000
Olathe KS ISL LLC Project (IDR, U.S. Bank NA LOC)		0.36			08/01/2027		3,965,000		3,965,000
Olathe KS Refunding MFHR Jefferson Place Apartments Project Series B (Housing Revenue, FHLMC Insured)		0.29			01/01/2034		2,485,000		2,485,000
									11,360,000

Kentucky: 4.13%
Other Municipal Debt: 2.35%
Kentucky Rural Water Finance Corporation Public Project Series C-1 (Water & Sewer Revenue)		1.50			12/01/2011		7,500,000		7,537,007
Louisville & Jefferson County KY Metropolitan Sewer District Sewer & Drain Systems Series A (Water & Sewer Revenue)		1.25			05/26/2011		74,000,000		74,029,973
									81,566,980

Variable Rate Demand Notes§: 1.78%
Bardstown KY Industrial Building Linpac Materials Handling Project (IDR, U.S. Bank NA LOC)		0.32			10/01/2019		3,100,000		3,100,000
Hancock County KY Solid Waste Disposal Facilities NSA Limited Project Series 1998 (Resource Recovery Revenue, Bank of America NA LOC)		0.56			04/01/2028		7,815,000		7,815,000
Hopkins County KY Industrial Building Lok Corporation Project Series 2007 (IDR, PNC Bank NA LOC)		0.28			10/01/2017		6,500,000		6,500,000
Jefferson County KY Industrial Building Dant Growth LLC Project Series 2002 (IDR)		0.36			09/01/2022		2,650,000		2,650,000
Kentucky EDFA Goodwill Industries Kentucky Incorporated Project Series 2007 (Miscellaneous Revenue, PNC Bank NA LOC)		0.31			12/01/2037		9,750,000		9,750,000
Kentucky EDFA Hospital Ashland Hospital Corporation Series B (Hospital Revenue, Branch Banking & Trust LOC)		0.26			01/01/2038		15,000,000		15,000,000
Kentucky EDFA Madonna Manor Incorporated Project PUTTER Series P-Floats-MT-636 (Health Revenue) ††		0.33			12/01/2039		2,500,000		2,500,000
Logan County KY Solid Waste Disposal Waste Management LLC Project (Resource Recovery Revenue, PNC Bank NA LOC)		0.28			03/01/2021		7,450,000		7,450,000
Louisville KY Regional Airport Authority Series A (Airport Revenue)		0.22			11/01/2036		1,800,000		1,800,000
Montgomery County KY Industrial Building Facilities Fineblanking Corporation Project Series 1996 (IDR, Bank of America NA LOC)		0.47			08/01/2015		1,400,000		1,400,000
Williamstown KY League of Cities Funding Trust Lease Series 2008-A (Lease Revenue, U.S. Bank NA LOC)		0.25			07/01/2038		3,715,000		3,715,000
									61,680,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Louisiana: 1.49%
Variable Rate Demand Notes§: 1.49%
Louisiana HFA (Housing Revenue, FHLMC Insured)		0.31	%		12/01/2040	$	4,095,000	$	4,095,000
Louisiana Local Government Environmental Facilities CDA Honeywell International Incorporated Project (Miscellaneous Revenue)		0.46			12/01/2036		4,000,000		4,000,000
Louisiana Public Facilities Authority Christus Health Series 2009-B-1 (Hospital Revenue, Bank of New York LOC)		0.25			07/01/2047		2,000,000		2,000,000
Louisiana Public Facilities Authority Dynamic Fuels LLC Project Series 2008 (IDR, JPMorgan Chase Bank LOC)		0.25			10/01/2033		8,000,000		8,000,000
Louisiana Public Facilities Authority Port LLC Project Series 2008 (Miscellaneous Revenue, Bank of America NA LOC)		0.29			10/01/2028		4,300,000		4,300,000
Louisiana State Series A (GO - State, BNP Paribas LOC)		0.25			07/15/2026		6,000,000		6,000,000
Parish of St. James LA Nucor Steel LLC Series A-1 (IDR)		0.28			11/01/2040		15,300,000		15,300,000
Parish of St. James LA Nucor Steel LLC Series B-1 (IDR)		0.28			11/01/2040		8,000,000		8,000,000
									51,695,000

Maine: 0.17%
Variable Rate Demand Note§: 0.17%
Maine Finance Authority Foxcroft Academy (Education Revenue, TD Bank NA LOC)		0.24			06/01/2038		6,000,000		6,000,000

Maryland: 1.74%
Other Municipal Debt: 0.84%
Montgomery County MD Series 10-A (Miscellaneous Revenue, PNC Bank NA LOC)		0.28			07/06/2011		14,200,000		14,200,000
Montgomery County MD Series 10-B (Miscellaneous Revenue, State Street Bank LOC)		0.28			07/06/2011		15,000,000		15,000,000
									29,200,000

Variable Rate Demand Notes§: 0.90%
Baltimore County MD Cross Creek Apartments Project Series 2008 (Housing Revenue, PNC Bank NA LOC)		0.31			11/01/2033		4,465,000		4,465,000
Maryland CDA MFHR Hopkins Village Apartments Series 2008-F (Housing Revenue, FHLMC Insured)		0.27			11/01/2038		3,000,000		3,000,000
Maryland Economic Development Corporation YMCA Central Maryland Incorporated Project Series 2003 (Miscellaneous Revenue, Branch Banking & Trust LOC)		0.29			04/01/2028		2,200,000		2,200,000
Maryland Health & HEFA Suburban Hospital (Hospital Revenue, PNC Bank NA LOC)		0.26			07/01/2029		5,940,000		5,940,000
Montgomery County MD Housing Opportunities Community MFHR (Housing Revenue, FHLMC Insured)		0.36			02/01/2040		2,000,000		2,000,000
Montgomery County MD Housing Opportunities Series 2002-C (Housing Revenue, FNMA LOC)		0.28			11/01/2032		500,000		500,000
Montgomery County MD SFHR Series F (Housing Revenue, FNMA LOC)		0.28			07/01/2038		10,000,000		10,000,000
University System of Maryland COP College Business School Project Series 2000 (Miscellaneous Revenue, Bank of America NA LOC)		0.31			06/01/2015		2,920,000		2,920,000
									31,025,000

Massachusetts: 0.89%
Variable Rate Demand Notes§: 0.89%
Massachusetts Development Finance Agency Georgetown Village Apartments Series A (Housing Revenue, FNMA Insured)		0.28			07/15/2036		3,800,000		3,800,000
Massachusetts Development Finance Agency Resource Recovery Waste Management Incorporated Project Series 1999 (Resource Recovery Revenue, Bank of America NA LOC)		0.34			07/01/2029		3,000,000		3,000,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Massachusetts Municipal Securitization Trust Receipts GO Class A (GO - State, Societe Generale LOC, FGIC Insured)		0.26	%		05/01/2037	$	4,250,000	$	4,250,000
Massachusetts Municipal Securitization Trust Receipts GO Class A (GO - State, Societe Generale LOC, AMBAC Insured)		0.26			08/01/2037		7,625,000		7,625,000
Massachusetts State Development Finance Agency Wheelabrator Millbury Project (Resource Recovery Revenue, JPMorgan Chase Bank LOC)		0.24			05/01/2027		9,050,000		9,050,000
Massachusetts State HEFA Series N-1 (Education Revenue)		0.21			08/15/2040		3,200,000		3,200,000
									30,925,000

Michigan: 4.93%
Other Municipal Debt: 1.79%
Michigan Finance Authority Short Aid Notes Series D-1 (Miscellaneous Revenue)		2.00			08/19/2011		5,000,000		5,017,772
Michigan Finance Authority Short Aid Notes Series D-2 (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		2.00			08/22/2011		6,000,000		6,029,370
Michigan Finance Authority Short Aid Notes Series D-3 (Miscellaneous Revenue, Scotia Bank LOC)		2.00			08/22/2011		6,000,000		6,029,370
Michigan State Hospital Finance Authority Series 08-C (Hospital Revenue)		0.29			05/24/2011		20,000,000		20,000,000
Michigan State Hospital Finance Authority Series 08-C (Hospital Revenue)		0.29			07/12/2011		10,000,000		10,000,000
Michigan State Hospital Finance Authority Series 08-C (Hospital Revenue)		0.29			07/18/2011		10,000,000		10,000,000
Michigan State Series A (Tax Revenue)		2.00			09/30/2011		5,000,000		5,032,396
									62,108,908

Variable Rate Demand Notes§: 3.14%
Green Lake Township MI Economic Development Corporation (Education Revenue, Harris NA LOC)		0.26			06/01/2034		800,000		800,000
Michigan HDA Rental Housing Project Series 2006-A (Housing Revenue, AGM GO of Authority Insured)		0.30			10/01/2040		14,405,000		14,405,000
Michigan HDA Rental Housing Project Series 2006-C (Housing Revenue, AGM GO of Authority Insured)		0.30			04/01/2041		28,640,000		28,640,000
Michigan Higher Education Authority Student Loan RBC Municipal Products Trust Incorporated Certificate Series L-33 (Education Revenue, Royal Bank of Canada LOC)		0.29			09/01/2026		40,495,000		40,495,000
Michigan Hospital Finance Authority Ascension Health Group Series 2010-8 (Hospital Revenue)		0.35			11/15/2049		7,100,000		7,100,000
Michigan State Housing Development Authority Series A (Housing Revenue, GO of Authority Insured)		0.28			10/01/2037		9,525,000		9,525,000
Michigan State Housing Development Authority Series A (Housing Revenue, AGM Insured)		0.30			04/01/2042		5,900,000		5,900,000
Michigan State Strategic Fund Fitz Land LLC Project (IDR, PNC Bank NA LOC)		0.36			08/01/2025		1,015,000		1,015,000
Michigan Strategic Fund Limited Methodist Childrens Home Project Series 1995 (Miscellaneous Revenue, Bank One Michigan LOC)		0.47			08/01/2015		700,000		700,000
									108,580,000

Minnesota: 3.77%
Other Municipal Debt: 0.37%
City of Rochester MN Health Care Series 92 A (Health Revenue)		0.25			05/02/2011		10,700,000		10,700,000
Minnesota Rural Water Finance Authority Public Projects Construction (Water & Sewer Revenue)		1.25			04/01/2012		2,000,000		2,010,898
									12,710,898

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes§: 3.40%
Bloomington MN Bristol Village (Housing Revenue, FNMA Insured)		0.30	%		11/15/2032	$	5,005,000	$	5,005,000
Bloomington MN Norlan Partners Series B (Housing Revenue, LaSalle Bank NA LOC)		0.36			07/15/2032		1,410,000		1,410,000
Bloomington MN Refunding MFHR Norlan Partnership Series A-1 (Housing Revenue, FNMA Insured)		0.30			07/15/2032		4,190,000		4,190,000
Dakota County MN CDA Catholic Finance Corporation (Education Revenue, U.S. Bank NA LOC)		0.38			01/01/2012		965,000		965,000
Dakota County MN CDA View Pointe Apartments Project Series 2007-A (Housing Revenue, FNMA Insured)		0.30			01/15/2038		1,000,000		1,000,000
Eden Prairie MN Refunding MFHR Park At City West Apartments Project Series 2001 (Housing Revenue, FHLMC Insured)		0.26			09/01/2031		300,000		300,000
Forest Lake MN Kilkenny Court Apartments Project (Housing Revenue, FNMA Insured)		0.26			08/15/2038		1,150,000		1,150,000
Hennepin County MN Housing & RDA Stone Arch Apartments Project (Housing Revenue, FNMA Insured)		0.30			04/15/2035		2,800,000		2,800,000
Mahtomedi MN Housing Revenue Briarcliff Manor Apartments Series A (Housing Revenue, FNMA Insured)		0.30			06/15/2038		3,645,000		3,645,000
Maplewood MN Educational Facilities Mounds Park Academy Project (Education Revenue, U.S. Bank NA LOC)		0.27			10/01/2031		3,000,000		3,000,000
Minneapolis & St. Paul MN Housing & RDA Allina Health Systems Series B-1 (Hospital Revenue, JPMorgan Chase Bank LOC)		0.25			11/15/2035		3,025,000		3,025,000
Minneapolis & St. Paul MN Housing & RDA Allina Health Systems Series B-2 (Hospital Revenue, JPMorgan Chase Bank LOC)		0.26			11/15/2035		4,050,000		4,050,000
Minneapolis MN CDA C&G Partners Project (Housing Revenue, U.S. Bank NA LOC)		0.27			12/01/2015		160,000		160,000
Minneapolis MN Driftwood Apartments Project A (Housing Revenue, U.S. Bank NA LOC)		0.35			10/01/2024		3,840,000		3,840,000
Minneapolis MN MFHR Stone Arch Apartments (Housing Revenue, FNMA Insured)		0.30			04/15/2035		3,600,000		3,600,000
Minneapolis MN People Serving People Project Series A (Miscellaneous Revenue, U.S. Bank NA LOC)		0.28			10/01/2021		140,000		140,000
Minneapolis MN Second Street Acquisition Series A (Housing Revenue, LaSalle Bank NA LOC)		0.36			01/01/2033		2,780,000		2,780,000
Minnesota Bond Securitization Trust Certificate Carleton Lofts Project Class A (Housing Revenue, LaSalle Bank NA LOC)		0.46			12/01/2048		7,945,000		7,945,000
Minnesota State HEFAR MacAlester College Series 5-Q (Education Revenue)		0.26			03/01/2033		360,000		360,000
Minnesota State HFA Residential Housing Finance Series C (Miscellaneous Revenue)		0.28			07/01/2036		200,000		200,000
Minnesota State HFA Residential Housing Finance Series C (Housing Revenue, GO of Agency Insured)		0.28			07/01/2048		685,000		685,000
Minnesota State University of St. Thomas Series 4O (Education Revenue, U.S. Bank NA LOC)		0.29			10/01/2021		3,310,000		3,310,000
Minnesota State University of St. Thomas Series 5C (Education Revenue, U.S. Bank NA LOC)		0.29			04/01/2025		400,000		400,000
Minnesota State University of St. Thomas Series 6H (Education Revenue, U.S. Bank NA LOC)		0.26			10/01/2032		4,525,000		4,525,000
Moorhead MN Solid Waste Disposal American Crystal Sugar Project Series 1997 (Resource Recovery Revenue, Wells Fargo Bank NA LOC) (q)		0.41			04/01/2012		5,500,000		5,500,000
Plymouth MN MFHR At The Lake Apartments Project (Housing Revenue, FHLMC Insured)		0.30			08/01/2034		6,015,000		6,015,000
Ramsey County MN Housing & Redevelopment MFHR Gateway Apartments LP Series A (Housing Revenue, LaSalle Bank NA LOC)		0.32			10/01/2038		1,250,000		1,250,000
Rochester MN HCFR Mayo Foundation (Hospital Revenue)		0.24			08/15/2032		200,000		200,000
St. Anthony MN Landings Silver Lake Project Series 2007 (Housing Revenue, LaSalle Bank NA LOC)		0.36			10/01/2037		1,400,000		1,400,000
St. Anthony MN Landings Silver Lake Series A (Housing Revenue, LaSalle Bank NA LOC)		0.32			10/01/2037		3,600,000		3,600,000
St. Cloud MN Health Central Care Series A (Hospital Revenue, U.S. Bank NA LOC)		0.24			05/01/2042		3,010,000		3,010,000
St. Cloud MN Health Central Care Series C (Hospital Revenue, Assured Guaranty Insured)		0.32			05/01/2042		1,350,000		1,350,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
St. Louis Park MN Refunding MFHR Newport on Seven Apartments Project Series 2001 (Housing Revenue, FNMA Insured)		0.30	%		09/15/2031	$	8,120,000	$	8,120,000
St. Paul MN Housing & RDA Bridgecreek Place Limited Project Series 2004-A (Housing Revenue, LaSalle Bank NA LOC)		0.32			06/15/2037		10,750,000		10,750,000
St. Paul MN Housing & RDA Hampden Square Apartments Series A (Housing Revenue, FNMA Insured)		0.30			06/01/2032		2,840,000		2,840,000
St. Paul MN Housing & RDA Highland Ridge Project (Housing Revenue, FHLMC Insured)		0.26			10/01/2033		1,000,000		1,000,000
St. Paul MN Port Authority District Cooling AMT Series 12-EE (IDR, Deutsche Bank AG LOC)		0.27			03/01/2029		450,000		450,000
St. Paul MN Port Authority District Cooling Series 13-FF (IDR, Deutsche Bank AG LOC)		0.23			03/01/2029		675,000		675,000
St. Paul MN Port Authority District Cooling Series 9-BB (IDR, Deutsche Bank AG LOC)		0.23			03/01/2029		500,000		500,000
St. Paul MN Port Authority District Heating AMT Series 8-R (IDR, Deutsche Bank AG LOC)		0.27			12/01/2028		1,000,000		1,000,000
St. Paul MN Port Authority District Heating Series 14-S (IDR, Deutsche Bank AG LOC)		0.23			12/01/2028		2,100,000		2,100,000
St. Paul MN Port Authority District Heating Series 5-o (IDR, Deutsche Bank AG LOC)		0.23			12/01/2028		1,700,000		1,700,000
St. Paul MN Port Authority Tax Increment Westgate Office & Industrial Center Project (Tax Revenue, U.S. Bank NA LOC)		0.24			02/01/2015		900,000		900,000
Stevens County MN Solid Waste Disposal Riverview Dairy Project Series 2007 (Resource Recovery Revenue, AgCountry Farm Credit LOC)		0.37			08/01/2032		1,200,000		1,200,000
Swift County MN Solid Waste Disposal East Dublin Dairy LLP Project Series 2008 (Resource Recovery Revenue, AgCountry Farm Credit LOC)		0.37			04/01/2033		6,000,000		6,000,000
									118,045,000

Mississippi: 0.76%
Variable Rate Demand Notes§: 0.76%
Clipper Tax-Exempt Certificate Trust Series 2007-32 (GO - State)		0.31			02/01/2016		14,500,000		14,500,000
Merrill Lynch PFOTER Series MT-659 (Education Revenue, Guaranteed Student Loans Insured) ††		0.44			09/01/2035		4,180,000		4,180,000
Mississippi Business Finance Corporation Chevron USA Incorporated Project Series C (IDR)		0.16			12/01/2030		7,700,000		7,700,000
									26,380,000

Missouri: 0.69%
Other Municipal Debt: 0.20%
St. Louis County MO Special Obligation TRAN (Miscellaneous Revenue)		0.45			08/01/2011		7,105,000		7,106,355

Variable Rate Demand Notes§: 0.49%
Clipper Tax-Exempt Certificate Trust Series 2009-12 (Housing Revenue)		0.41			03/01/2038		1,245,000		1,245,000
Jasper County MO IDA Leggett & Platt Incorporated Series 1984 (IDR, JPMorgan Chase Bank LOC)		0.28			08/01/2016		2,300,000		2,300,000
Kansas City MO IDA Revenue Ewing Marion Kauffman Foundation Series A (Miscellaneous Revenue)		0.28			04/01/2027		2,495,000		2,495,000
Missouri HEFA Washington University Project Series B (Education Revenue)		0.20			02/15/2033		1,000,000		1,000,000
Missouri State HEFA Ascension Health Series C3 (Health Revenue)		0.24			11/15/2039		3,000,000		3,000,000
St. Charles County MO IDA Craftsmen Industries Project Series 1998-A (IDR, U.S. Bank NA LOC)		0.39			12/01/2019		4,970,000		4,970,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
St. Charles County MO IDA Kuenz Heating & Sheet Metal Series 2001 (IDR, U.S. Bank NA LOC)		0.44	%		04/01/2026	$	1,910,000	$	1,910,000
									16,920,000

Nebraska: 1.02%
Variable Rate Demand Notes§: 1.02%
Central Plains NE Nebraska Gas Project #2 Series 2009 (Utilities Revenue)		0.26			08/01/2039		14,895,000		14,895,000
Douglas County NE James Skinner Company Project Series 1999 (IDR, U.S. Bank NA LOC)		0.35			01/12/2012		570,000		570,000
Nebraska Investment Finance Authority MFHR Apple Creek Associates Project Series 1985-A (Housing Revenue, Northern Trust Company LOC)		0.37			09/01/2031		4,310,000		4,310,000
Nebraska Investment Finance Authority Refunding MFHR Pheasant Ridge Apartments Series 2008 (Housing Revenue, FHLMC Insured)		0.31			04/01/2038		8,950,000		8,950,000
Nebraska Invitational Finance Authority Solid Waste Disposal Butler County Dairy LLC Series 2009 (Resource Recovery Revenue, Farm Credit Services LOC)		0.26			12/01/2037		6,500,000		6,500,000
									35,225,000

Nevada: 1.28%
Other Municipal Debt: 0.15%
Clark County NV Airport Series E-1 (Airport Revenue)		2.50			06/01/2011		5,000,000		5,007,626

Variable Rate Demand Notes§: 1.13%
Clark County NV Highway Improvement Series DBE-669 (Tax Revenue, AMBAC Insured)		0.26			01/15/2017		3,550,000		3,550,000
Clark County NV Passenger Facility Las Vegas (Airport Revenue, Union Bank NA LOC)		0.29			07/01/2022		4,800,000		4,800,000
Eclipse Funding Trust 2006-0146 Solar Eclipse Clark (Tax Revenue, U.S. Bank NA LOC)		0.25			11/01/2032		6,970,000		6,972,720
Las Vegas NV Economic Development Keep Memory Alive Project (Miscellaneous Revenue, PNC Bank NA LOC)		0.26			05/01/2037		8,000,000		8,000,000
Reno NV Senior Lien Transportation Rail Access Corridor Project Series 2008A (Tax Revenue, Bank of New York LOC)		0.26			06/01/2042		7,500,000		7,500,000
Washoe County NV Eclipse Funding Trust Series 2006-0142 (GO - Local, U.S. Bank NA LOC)		0.25			09/01/2014		8,365,000		8,378,774
									39,201,494

New Jersey: 3.75%
Other Municipal Debt: 0.29%
North Brunswick NJ BAN (GO - Local)		1.25			08/11/2011		10,000,000		10,024,806

Variable Rate Demand Notes§: 3.46%
Camden County NJ Improvement Authority Health Care Redevelopment The Cooper Health Systems Project Series 2004-B (Hospital Revenue, TD Bank NA LOC)		0.21			08/01/2032		7,445,000		7,445,000
Clipper Tax Exempt Series 2009-32 (Miscellaneous Revenue, State Street Bank & Trust Insured)		0.31			01/01/2018		4,300,000		4,300,000
Deutsche Bank Spears Lifers Trust (Transportation Revenue, FSA Insured)		0.25			12/15/2033		7,000,000		7,000,000
JPMorgan Chase PUTTER/DRIVER Trust Series 3808 (Tax Revenue) ††		0.27			06/23/2011		9,000,000		9,000,000
JPMorgan Chase PUTTER/DRIVER Trust Series 3811 (Tax Revenue) ††		0.27			06/23/2011		14,000,000		14,000,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
New Jersey Deutsche Bank Spears Trust Series 2006-B (Miscellaneous Revenue, FSA Insured)		0.26	%		12/15/2034	$	3,305,000	$	3,305,000
New Jersey Economic Development Authority Lawrenceville School Project (Education Revenue)		0.20			07/01/2031		2,300,000		2,300,000
New Jersey Economic Development Authority School Princeton Project (Miscellaneous Revenue, PNC Bank NA LOC)		0.23			11/01/2034		4,800,000		4,800,000
New Jersey EDA The Peddie School Project Series B (Education Revenue)		0.25			02/01/2029		4,700,000		4,700,000
New Jersey Educational Development Authority Lawrenceville School Project Series B (Education Revenue)		0.23			07/01/2026		1,200,000		1,200,000
New Jersey Health Care Facilities Financing Authority Princeton Healthcare Series A (Hospital Revenue, Bank of America NA LOC)		0.26			07/01/2041		3,200,000		3,200,000
New Jersey Higher Education Assistance Authority Student Loan ROC-RR-II-R-11853 (Education Revenue, Assured Guaranty Insured) ††		0.41			06/01/2016		14,350,000		14,350,000
New Jersey State TTFA PUTTER 2009-70 (Miscellaneous Revenue)		0.26			12/15/2023		21,500,000		21,500,000
New Jersey State TTFA PUTTER DB-297 (Miscellaneous Revenue, NATL-RE FGIC Insured)		0.25			12/15/2031		15,065,000		15,065,000
New Jersey State TTFA Series 146 (Miscellaneous Revenue, FSA Insured)		0.41			06/15/2011		4,945,000		4,945,000
New Jersey TTFA Series 2005-D (Miscellaneous Revenue, FSA Insured) ††		0.36			12/15/2013		2,780,000		2,780,000
									119,890,000

New Mexico: 0.86%
Other Municipal Debt: 0.12%
New Mexico State TRAN (Tax Revenue)		2.50			06/30/2011		4,000,000		4,014,167

Variable Rate Demand Notes§: 0.74%
New Mexico Educational Assistance Foundation (Education Revenue, Royal Bank of Canada LOC, Guaranteed Student Loans Insured)		0.30			04/01/2034		4,435,000		4,435,000
New Mexico Municipal Energy Acquisition Authority Gas Supply Series 2009 (Utilities Revenue)		0.26			11/01/2039		19,960,000		19,960,000
Roswell NM Roswell LLC Project Series A (Housing Revenue, Sovereign Bank LOC)		0.65			07/01/2036		1,410,000		1,410,000
									25,805,000

New York: 4.97%
Other Municipal Debt: 0.83%
Depew NY Free School District GO Series A (GO - Local, State Aid Withholding Insured)		1.25			06/02/2011		8,935,300		8,939,216
Oyster Bay NY BAN (GO - Local)		1.25			08/12/2011		14,000,000		14,037,049
Tarrytowns NY Union Free School District BAN (Tax Revenue, State Aid Withholding Insured)		1.50			08/12/2011		5,630,000		5,647,857
									28,624,122

Variable Rate Demand Notes§: 4.14%
New York Dormitory Authority Tax Exempt Certificate St. John’s University Series 2007 (Education Revenue)		0.26			07/01/2025		20,420,000		20,420,000
New York HFA Archstone Westbury Housing Project Series 2004-A (Housing Revenue, Bank of America NA LOC)		0.30			11/01/2036		300,000		300,000
New York Metropolitan Transportation Authority Series 2005-A ROC-RR-II-R-594PB (Transportation Revenue, AGC-ICC AMBAC Insured)		0.41			11/15/2013		21,190,000		21,190,000
New York Metropolitan Transportation Authority Series 2006-B ROC-RR-II-R-11711 (Transportation Revenue, FSA Insured) ††		0.41			11/15/2027		11,650,000		11,650,000
New York Mortgage Agency Homeowner ROC-RR-II-R-11704 (Housing Revenue) ††		0.32			10/01/2031		5,660,000		5,660,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
New York Mortgage Agency Homeowner Series 161 ROC-RR-II-R-11713 (Housing Revenue) ††		0.27	%		10/01/2016	$	4,385,000	$	4,385,000
New York Mortgage Agency Homeowner Series 71 ROC-RR-II-R-11706 (Housing Revenue) ††		0.32			10/01/2024		3,480,000		3,480,000
New York Mortgage Agency Series 106 ROC-RR-II-R-11708 (Housing Revenue) ††		0.31			04/01/2034		3,000,000		3,000,000
New York Mortgage Agency Series 73-A ROC-RR-II-R-11707 (Housing Revenue) ††		0.32			10/01/2024		9,700,000		9,700,000
New York NY Housing Development Corporation MFHR (Housing Revenue)		0.53			11/01/2040		5,000,000		5,000,000
New York NY Housing Development Corporation MFHR Series 143 ROC-RR-II-R 11699 (Housing Revenue) ††		0.32			11/01/2040		1,285,000		1,285,000
New York NY Housing Development Corporation MFHR Series 2009-C1 (Housing Revenue) ††		0.26			05/01/2029		6,620,000		6,620,000
New York NY Housing Development Corporation Series C-4 (Housing Revenue)		0.26			05/01/2015		2,500,000		2,500,000
New York NY Housing Development Corporation Series J-1 (Housing Revenue)		0.48			05/01/2046		7,120,000		7,120,000
New York NY Municipal Water & Sewer Finance Authority ROC-RR-II R-11697 (Water & Sewer Revenue, BHAC-CR Insured) ††		0.26			06/15/2016		4,200,000		4,200,000
New York NY Series I Subseries I-7 (Tax Revenue, Bank of America NA LOC)		0.27			04/01/2036		4,900,000		4,900,000
New York NY TFA Building Fiscal Year 2007 Series S-1 ROC-RR-II-R-809PB (Miscellaneous Revenue, AGC-ICC FGIC State Aid Withholding Insured)		0.27			01/15/2015		10,445,000		10,445,000
New York NY Transitional Finance Authority Series 3F (Tax Revenue)		0.23			11/01/2022		8,075,000		8,075,000
New York State Housing Finance Agency Weyant Green Apartments Series A (Housing Revenue, FNMA Insured)		0.23			05/15/2037		3,000,000		3,000,000
New York State Power Authority Revenue & General Purpose Consented (GO - State)		0.32			03/01/2016		4,585,000		4,585,000
New York State Power Authority Revenue & General Purpose Consented (GO - State)		0.32			03/01/2020		1,000,000		1,000,000
New York Urban Development Corporation ROC-II-R-11710 (Miscellaneous Revenue) ††		0.26			03/01/2028		5,000,000		5,000,000
									143,515,000

North Carolina: 0.98%
Variable Rate Demand Notes§: 0.98%
North Carolina Capital Facilities Finance Agency (Miscellaneous Revenue, Branch Banking & Trust LOC)		0.23			03/01/2031		5,000,000		5,000,000
North Carolina Capital Facilities Finance Agency Educational Guilford College Project Series 2008 (Education Revenue, Branch Banking & Trust LOC)		0.29			05/01/2024		3,405,000		3,405,000
North Carolina Capital Facilities Finance Agency Educational High Point University Project Series 2008 (Education Revenue, Branch Banking & Trust LOC)		0.29			05/01/2030		3,875,000		3,875,000
North Carolina Education Care Community HCFR University Health Systems of Eastern Carolina Series 2008-B-2 (Hospital Revenue, Branch Banking & Trust LOC)		0.27			12/01/2036		5,040,000		5,040,000
North Carolina HFA Homeownership ROC-RR-II-R-11858 (Housing Revenue) ††		0.32			01/01/2033		3,990,000		3,990,000
North Carolina Port Authority Facilities Series 2008 (Miscellaneous Revenue, Branch Banking & Trust LOC)		0.29			06/01/2036		3,500,000		3,500,000
Rockingham County NC Industrial Facilities & PCFA Innofa USA Project Series 2007 (IDR, Branch Banking & Trust LOC)		0.37			12/01/2026		3,350,000		3,350,000
Stanly County NC Industrial Facilities & PCFA Chicago Tube Company (IDR, JPMorgan Chase Bank LOC)		0.37			04/01/2018		5,880,000		5,880,000
									34,040,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
North Dakota: 1.17%
Other Municipal Debt: 0.10%
North Dakota Rural Water Finance Corporation Public Project Construction Notes A-4 (Water & Sewer Revenue)		1.50	%		09/01/2011	$	3,500,000	$	3,509,283

Variable Rate Demand Notes§: 1.07%
North Dakota State HFA Home Mortgage Financing (Housing Revenue)		0.29			01/01/2030		1,430,000		1,430,000
North Dakota State HFA Home Mortgage Program Series A (Housing Revenue)		0.29			07/01/2037		3,000,000		3,000,000
North Dakota State HFA Home Mortgage Program Series B (Housing Revenue)		0.26			07/01/2033		75,000		75,000
North Dakota State HFA Home Mortgage Program Series B (Housing Revenue)		0.29			01/01/2035		2,845,000		2,845,000
Richland County ND Recovery Zone (Miscellaneous Revenue, CoBank ACB LOC)		0.27			11/01/2028		2,315,000		2,315,000
Traill County ND IDR American Crystal Project (Resource Recovery Revenue, CoBank ACB LOC)		0.35			09/01/2017		27,330,000		27,330,000
									36,995,000

Ohio: 1.60%
Variable Rate Demand Notes§: 1.60%
Butler County OH Capital Funding CCAO Low Cost Capital Series 2005-A (Miscellaneous Revenue, U.S. Bank NA LOC)		0.26			06/01/2035		2,470,000		2,470,000
Columbus OH Regional Airport Authority Ohio Municipal Pooled Financing Program Series 2004-A (Airport Revenue, U.S. Bank NA LOC)		0.26			01/01/2030		3,565,000		3,565,000
Franklin County OH Lifeline Shelter Systems Project (IDR, Bank One NA LOC)		0.57			10/01/2021		1,050,000		1,050,000
Hamilton County OH Health Care Life Enriching Community Project Series 2006-B (Health Revenue, PNC Bank NA LOC)		0.26			01/01/2037		960,000		960,000
Lancaster OH Port Authority Gas Series 2008 (Energy Revenue)		0.26			05/01/2038		12,060,000		12,060,000
Lorain County OH Hospital Facilities Regional Education Center Project Series 2008 (Hospital Revenue, JPMorgan Chase Bank LOC)		0.27			11/01/2021		2,600,000		2,600,000
Madeira OH Economic Development Kroger Company Series 2004 (IDR, U.S. Bank NA LOC)		0.33			11/01/2012		2,050,000		2,050,000
Montgomery County OH Cambridge Commons Apartments A (Housing Revenue, FHLB LOC)		0.28			04/01/2038		1,145,000		1,145,000
Pike County OH HCFR Traditions Health Care Obligation Group Series 2007 (Health Revenue, U.S. Bank NA LOC)		0.28			06/01/2033		2,100,000		2,100,000
Stark County OH Kroger Company Series 2004 (IDR, U.S. Bank NA LOC)		0.33			09/01/2012		3,100,000		3,100,000
Tuscarawas County OH Port Authority Plymouth Foam Incorporated Project Series 2008 (IDR, U.S. Bank NA LOC)		0.34			08/01/2038		4,965,000		4,965,000
Wood County OH Hospital Facilities Wood County Hospital Association Project Series 2008 (Hospital Revenue, JPMorgan Chase Bank LOC)		0.28			03/01/2039		19,415,000		19,415,000
									55,480,000

Oklahoma: 0.95%
Variable Rate Demand Notes§: 0.95%
Oklahoma Development Finance Authority Industrial Development Tracker Marine Project (IDR, Bank of America NA LOC)		0.59			03/01/2018		1,200,000		1,200,000
Oklahoma State Student Loan Authority PUTTER MT-658 (Education Revenue, Guaranteed Student Loans Insured) ††		0.36			09/01/2037		5,000,000		5,000,000
Oklahoma Turnpike Authority Series E (Transportation Revenue)		0.26			01/01/2028		8,425,000		8,425,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Oklahoma Turnpike Authority Series F (Transportation Revenue)		0.26	%		01/01/2028	$	18,335,000	$	18,335,000
									32,960,000

Oregon: 0.24%
Variable Rate Demand Notes§: 0.24%
Oregon Housing & Community Services Department SFHR Series 2008-I (Housing Revenue)		0.27			07/01/2037		7,450,000		7,450,000
Oregon State Beef Northwest Feeders Incorporated Series 1999 (Miscellaneous Revenue, Northwest Farm Credit LOC)		0.46			01/01/2016		875,000		875,000
									8,325,000

Other: 7.60%
Other Municipal Debt: 0.33%
FHLMC Multiclass Mortgage Certificates (Housing Revenue)		0.32			08/15/2045		11,323,335		11,323,335

Variable Rate Demand Notes§: 7.27%
Branch Banking & Trust Company Municipal Trust Series 5003 (Lease Revenue, RaboBank International LOC) ††		0.49			05/01/2027		18,226,002		18,226,002
Clipper Tax-Exempt Certificate Trust Series 2007-19 (Miscellaneous Revenue)		0.41			06/01/2011		10,197,000		10,197,000
Clipper Tax-Exempt Certificate Trust Series 2009-10 (Miscellaneous Revenue)		0.41			12/01/2035		3,049,000		3,049,000
Clipper Tax-Exempt Certificate Trust Series 2009-26 (Miscellaneous Revenue)		0.41			07/01/2037		1,923,000		1,923,000
Clipper Tax-Exempt Certificate Trust Series 2009-4 (Miscellaneous Revenue)		0.41			10/01/2033		494,055		494,055
Clipper Tax-Exempt Certificate Trust Series 2009-54 (Miscellaneous Revenue)		0.31			05/01/2017		28,601,000		28,601,000
FHLMC MFHR Series M019 (Housing Revenue, FHLMC Insured)		0.31			05/01/2017		18,953,000		18,953,000
FHLMC MFHR Series M021 (Housing Revenue, FHLMC Insured)		0.31			06/15/2036		33,655,000		33,655,000
PFOTER Class C PPT 1001 (Miscellaneous Revenue, FHLMC Insured)		0.29			03/01/2040		50,940,000		50,940,000
PFOTER PPT 1005 Term A (Miscellaneous Revenue, FHLMC Insured)		0.36			05/15/2035		54,970,000		54,970,000
SunAmerica Trust Various States Class A Certificates Series 2 (Miscellaneous Revenue, FHLMC Insured)		0.33			07/01/2041		30,900,000		30,900,000
									251,908,057

Pennsylvania: 4.51%
Variable Rate Demand Notes§: 4.51%
Allegheny County PA Hospital Development Authority University of Pittsburgh Education Center Project Series 2007-B-2 (Hospital Revenue, Royal Bank of Canada LOC) ††		0.27			04/15/2039		9,700,000		9,700,000
Allegheny County PA Hospital Development Authority University of Pittsburgh Medical Center PUTTER MT-636 (Hospital Revenue) ††		0.33			02/01/2031		2,770,000		2,770,000
Allegheny County PA IDA United Jewish Federation Project Series A (Miscellaneous Revenue, PNC Bank NA LOC)		0.28			10/01/2026		1,403,000		1,403,000
Beaver County PA IDA Daily Corporation Project (IDR)		0.42			09/01/2032		6,300,000		6,300,000
Berks County PA Municipal Authority Reading Hospital & Education Center Project Series 2008A-1 (Hospital Revenue, Royal Bank of Canada LOC) ††		0.27			11/01/2011		11,000,000		11,000,000
Berks County PA Municipal Authority Reading Hospital & Education Center Project Series 2009-A-1 (Hospital Revenue) ††		0.27			02/01/2012		9,305,000		9,305,000
Butler County PA General Authority MSTR Butler Area School District Project Series 2007 Class A (GO - Local, Societe Generale LOC, GO of District Insured)		0.26			10/01/2034		5,085,000		5,085,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Butler County PA General Authority New Castle Area School District Project Series 2010 (GO - Local, PNC Bank NA LOC, GO of District Insured)		0.28	%		03/01/2030	$	2,315,000	$	2,315,000
Lancaster PA IDA Purple Crow Partners LLC Project (IDR, U.S. Bank NA LOC)		0.32			09/01/2026		1,180,000		1,180,000
Lehigh County PA General Purpose Authority St. Lukes Hospital Bethlehem PFOTER (Hospital Revenue)		0.40			08/15/2042		2,500,000		2,500,000
Montgomery County PA Higher Education & Health Authority William Penn Charter School Series 2001 (Education Revenue, PNC Bank NA LOC)		0.28			09/15/2031		2,125,000		2,125,000
Montgomery County PA IDA LaSalle College High School Series 2007-A (Education Revenue, PNC Bank NA LOC)		0.28			11/01/2037		5,000,000		5,000,000
Montgomery County PA IDA New Regional Medical Center PFOTER (Hospital Revenue, FHA Insured) ††		0.33			08/01/2038		14,000,000		14,000,000
Montgomery County PA IDR Series 3238 (Health Revenue, FHA Insured) ††		0.29			08/01/2030		2,600,000		2,600,000
Moon PA IDA Community Facilities YMCA Greater Pittsburgh Project Series 2005 (Miscellaneous Revenue, PNC Bank NA LOC)		0.28			06/01/2025		1,405,000		1,405,000
Pennsylvania EDFA Series D7 (IDR, PNC Bank NA LOC)		0.31			08/01/2022		1,400,000		1,400,000
Pennsylvania HEFA Association of Independent Colleges & University of Pennsylvania Finance Program Keystone College Project Series 2002 (Education Revenue, PNC Bank NA LOC)		0.28			05/01/2027		1,600,000		1,600,000
Pennsylvania HEFA Association of Independent Colleges & University of Pennsylvania Finance Program University of Scranton Project Series 1999-E3 (Education Revenue, PNC Bank NA LOC)		0.28			11/01/2014		6,550,000		6,550,000
Pennsylvania HFA SFHR Series 3297 (Housing Revenue) ††		0.37			10/01/2019		2,140,000		2,140,000
Pennsylvania Public School Building Authority School District of Philadelphia Project Series 2006-B (Lease Revenue, FSA State Aid Withholding Insured) ††		0.36			06/01/2015		1,990,000		1,990,000
Pennsylvania State Turnpike Commission (Transportation Revenue, AGM Insured) ††		0.41			07/15/2026		8,100,000		8,100,000
PFOTER MT 566 (Miscellaneous Revenue)		0.53			08/15/2042		12,615,000		12,615,000
Philadelphia PA Gas Works Deutsche Bank Spears Trust Series 1998 (Utilities Revenue, AMBAC Insured)		0.26			10/01/2022		21,620,000		21,620,000
Philadelphia PA School District GO Series 2007-A (GO - Local, Branch Banking & Trust LOC)		0.32			01/04/2029		8,800,000		8,800,000
Philadelphia PA School District GO Series F (GO - Local, Barclays Bank plc LOC, State Aid Withholding Insured)		0.19			09/01/2030		5,000,000		5,000,000
Quakertown PA General Authority Pooled Financing Program Series A (Miscellaneous Revenue, PNC Bank NA LOC)		0.26			07/01/2026		5,920,000		5,920,000
Southeastern PA Transportation Authority (Tax Revenue, PNC Bank NA LOC)		0.25			03/01/2022		4,000,000		4,000,000
									156,423,000

Puerto Rico: 0.02%
Variable Rate Demand Note§: 0.02%
Puerto Rico Sales Tax Finance Corporation Deutsche Bank Spears Trust Series DBE-627A (Tax Revenue, AMBAC Insured)		0.26			08/01/2050		800,000		800,000

Rhode Island: 0.20%
Variable Rate Demand Note§: 0.20%
Rhode Island State Student Loan Series 3235 (Education Revenue, Guaranteed Student Loans Insured) ††		0.41			12/01/2023		6,820,000		6,820,000

South Carolina: 0.83%
Variable Rate Demand Notes§: 0.83%
Piedmont Municipal Power Agency Series B (Utilities Revenue, U.S. Bank NA LOC)		0.23			01/01/2034		8,950,000		8,950,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
South Carolina Educational Facilities Authority For Private Non-profit Institutions Higher Learning Educational Facilities Spartanburg Methodist Series 2005 (Education Revenue, Branch Banking & Trust LOC)		0.31	%		08/01/2025	$	1,525,000	$	1,525,000
South Carolina Educational Facilities Authority Newbury College Series 2008 (Education Revenue, Branch Banking & Trust LOC)		0.29			06/01/2035		2,350,000		2,350,000
South Carolina Housing Finance & Development Authority MFHR Brookside Crossing Apartments Series 2008 (Housing Revenue, FHLMC Insured)		0.27			06/01/2046		4,900,000		4,900,000
South Carolina Jobs Economic Development Authority (Utilities Revenue, Branch Banking & Trust LOC)		0.34			12/01/2038		5,000,000		5,000,000
South Carolina Jobs Economic Development Authority Blue Ridge Log Cabins LLC Series 2007 (IDR, Branch Banking & Trust LOC)		0.37			03/01/2032		6,110,000		6,110,000
									28,835,000

South Dakota: 0.36%
Variable Rate Demand Notes§: 0.36%
South Dakota HDA Homeownership Mortgage Series 2009-A (Housing Revenue)		0.23			05/01/2039		4,850,000		4,850,000
South Dakota HEFA Sioux Valley Hospital & Health Systems Project Series 2001-C (Hospital Revenue, U.S. Bank NA LOC)		0.26			11/01/2019		7,500,000		7,500,000
									12,350,000

Tennessee: 0.78%
Variable Rate Demand Notes§: 0.78%
Alcoa Maryville Blount County TN Industrial Development Board Series A (Miscellaneous Revenue, Branch Banking & Trust LOC)		0.29			06/01/2036		2,150,000		2,150,000
Blount County TN Public Building Authority GO Series E-5-B (GO - Local, Branch Banking & Trust LOC)		0.29			06/01/2042		4,805,000		4,805,000
Franklin County TN Health & Educational Facilities Board University of the South Project Series 1994 (Education Revenue)		0.31			01/01/2013		2,900,000		2,900,000
Huntingdon TN Industrial Development Board Behlen Manufacturing Company Project (IDR, LaSalle Bank NA LOC)		0.42			05/01/2020		8,000,000		8,000,000
Memphis TN Health Educational & Housing Facilities Board PFOTER Corning Village Apartments (Housing Revenue, FHLMC Insured)		0.36			12/01/2047		3,370,000		3,370,000
Pulaski & Giles County TN Lomar Development Company Project (IDR, U.S. Bank NA LOC)		0.35			01/01/2017		1,445,000		1,445,000
Springfield TN Industrial Development Board Kroger Company Series 2004 (IDR, U.S. Bank NA LOC)		0.33			02/01/2012		4,500,000		4,500,000
									27,170,000

Texas: 12.52%
Other Municipal Debt: 0.04%
Texas State TAN (Tax Revenue)		2.00			08/31/2011		1,420,000		1,427,739

Variable Rate Demand Notes§: 12.48%
Beaumont TX Independent School District Building GO Series 2008 (GO - Local, PSF Insured)		0.26			02/15/2033		6,680,000		6,680,000
Bexar County TX Housing Finance Corporation Multifamily Apartments Project Series A PFOTER (Miscellaneous Revenue)		0.36			05/01/2032		25,640,000		25,640,000
Bexar County TX Housing Finance Corporation Vista Meadows Fredricksburg Place Apartments Project Series 2006 (Housing Revenue, FHLMC Insured)		0.26			09/01/2036		6,285,000		6,285,000
Brazos River TX Harbor Naval District Brazoria County BASF Corporation Project Series 2001 (Miscellaneous Revenue)		0.41			07/01/2022		4,900,000		4,900,000


The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Brazos River TX Harbor Naval District Brazoria County BASF Corporation Project Series 2001 (Miscellaneous Revenue)		0.44	%		05/01/2036	$	500,000	$	500,000
Calhoun TX Port Authority Environmental Facilities Formosa Plastics Project (Miscellaneous Revenue, Bank of America NA LOC)		0.33			11/01/2038		10,000,000		10,000,000
Collin County TX Housing Finance Corporation Huntington Apartments Project Series 1996 (Housing Revenue, Northern Trust Company LOC)		0.26			12/01/2015		12,305,000		12,305,000
Comal Independent School District ROC-RR-II-R-11907 (Tax Revenue, PSF Insured) ††		0.26			08/01/2016		2,000,000		2,000,000
Conroe TX Independent School District Unlimited Tax Building PUTTER Series 2487 (GO - Local, PSF Insured)		0.26			02/15/2014		2,250,000		2,250,000
Dallam County TX Industrial Development Corporation (Miscellaneous Revenue, Bank of the West LOC)		0.26			08/01/2035		5,000,000		5,000,000
Dallam County TX Industrial Development Corporation Economic Development Revenue Dallhart Jersey Ranch Incorporated Series 2008 (Miscellaneous Revenue)		0.41			08/01/2039		1,700,000		1,700,000
Dallam County TX Industrial Development Corporation Economic Development Revenue Hilmar Cheese Company Incorporated Project Series 2009 (Miscellaneous Revenue, Bank of the West LOC)		0.26			07/01/2032		12,250,000		12,250,000
Dallas TX Waterworks & Sewer Systems Series 2845 (Water & Sewer Revenue, AMBAC Insured)		0.31			10/01/2015		1,570,000		1,570,000
Del Valle TX GO Independent School District Building PUTTER Series 1946 (GO - Local, PSF Insured)		0.29			08/15/2014		2,970,000		2,970,000
First Rio Grande Regional Water Authority Economic Development Corporation Rio Grande Valley Sugar (Miscellaneous Revenue, CoBank ACB LOC)		0.26			03/01/2032		14,660,000		14,660,000
Fort Bend County TX GO PFOTER Series 1326 (GO - Local, FGIC Insured)		0.31			09/01/2012		2,730,000		2,730,000
Gregg County TX Health Facilities Development Corporation (Hospital Revenue, JPMorgan Chase Bank LOC, Radian Insured)		0.30			10/01/2029		400,000		400,000
Harris County TX Industrial Development Corporation Solid Waste Disposal Deer Park (Resource Recovery Revenue)		0.28			03/01/2023		12,350,000		12,350,000
Harris County TX Industrial Development Corporation Solid Waste Disposal Deer Park Refining Project Series A (Resource Recovery Revenue)		0.23			03/01/2023		18,800,000		18,800,000
Houston TX Higher Education Finance Corporation (Education Revenue) ††		0.26			05/15/2018		6,000,000		6,000,000
Houston TX Utilities Systems Authority Series 2010-B (Water & Sewer Revenue, Royal Bank of Canada LOC) ††		0.27			05/15/2034		4,900,000		4,900,000
Katy TX GO Independent School District Series 2000 (GO - Local, PSF Insured)		0.27			08/15/2033		6,530,000		6,530,000
Lamar TX Independent School District Construction Refunding GO Series 2008 (GO - Local, PSF Insured)		0.26			02/15/2038		6,435,000		6,435,000
Lovejoy TX Independent School District Building GO Deutsche Bank Spears Trust Series 2008 (GO - Local, PSF Insured)		0.26			02/15/2038		3,270,000		3,270,000
Mission TX Economic Development Corporation (Miscellaneous Revenue, Bank of America NA LOC)		0.29			04/01/2022		4,000,000		4,000,000
Montgomery County TX Housing Finance Corporation Park At Woodline Townhomes (Housing Revenue, Citibank NA LOC)		0.30			02/01/2038		14,355,000		14,355,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series A (Energy Revenue)		0.26			11/01/2040		7,200,000		7,200,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series B (Energy Revenue)		0.25			12/01/2039		10,200,000		10,200,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series B (Energy Revenue)		0.26			12/01/2039		5,950,000		5,950,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series B (Energy Revenue)		0.26			04/01/2040		4,800,000		4,800,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series C (Energy Revenue)		0.29			04/01/2027		1,000,000		1,000,000
Port Corpus Christi TX Solid Waste Disposal Flint Hills Resources Project Series 2002-A (Resource Recovery Revenue)		0.35			07/01/2029		43,600,000		43,600,000
Port Corpus Christi TX Solid Waste Disposal Flint Hills Resources Project Series 2006 (Resource Recovery Revenue)		0.40			01/01/2030		25,500,000		25,500,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Port Corpus Christi TX Solid Waste Disposal Flint Hills Resources Project Series 2007 (Resource Recovery Revenue)		0.40	%		01/01/2032	$	12,500,000	$	12,500,000
Port Corpus Christi TX Solid Waste Disposal Flint Hills Resources Project Series A (Resource Recovery Revenue)		0.40			04/01/2028		16,000,000		16,000,000
Rockwall TX Columbia Extrusion Corporation Project Series 1989 (IDR, Bank of America NA LOC)		0.32			07/01/2014		1,700,000		1,700,000
San Antonio TX Education Facilities Corporation St. Anthony Catholic High School (Education Revenue, JPMorgan Chase & Company LOC)		0.30			12/01/2023		3,165,000		3,165,030
San Antonio TX Electric & Gas Deutsche Bank Spears Trust Series 2007 (Utilities Revenue)		0.26			02/01/2032		8,280,000		8,280,000
San Marcos TX Industrial Development Corporation Butler Manufacturing Company Project (IDR, Bank of America NA LOC)		0.52			04/01/2015		6,250,000		6,250,000
Spring TX Independent School District Refunding GO Deutsche Bank Spears Trust Series 2008-A (GO - Local, PSF Insured)		0.26			08/15/2033		3,785,000		3,785,000
Tarant County TX Housing Finance Corporation PFOTER Evergreen at Keller Apartments Project (Housing Revenue, FHLMC Insured)		0.36			02/01/2049		12,960,000		12,960,000
Texas Municipal Gas Acquisition & Supply Corporation Series 2848 (Utilities Revenue)		0.33			12/15/2026		71,130,000		71,130,000
Texas Municipal Gas Acquisition & Supply Corporation Series 2849 (Utilities Revenue)		0.33			12/15/2026		9,842,105		9,842,105
									432,342,135

Utah: 0.15%
Variable Rate Demand Notes§: 0.15%
Juab County UT Intermountain Farmers Association Project (IDR, CoBank ACB LOC)		0.41			08/01/2012		600,000		600,000
Juab County UT Intermountain Farmers Association Project (IDR, CoBank ACB LOC)		0.41			10/01/2021		2,400,000		2,400,000
South Valley Sewer District UT ROC-RR-II-R-11919 (Water & Sewer Revenue) ††		0.26			07/01/2016		2,080,000		2,080,000
									5,080,000

Vermont: 0.13%
Variable Rate Demand Notes§: 0.13%
Vermont Educational & Health Buildings Financing Agency Various Norwich University Project (Education Revenue, TD Bank NA LOC)		0.23			09/01/2038		3,250,000		3,250,000
Vermont Educational & Health Buildings North County Hospital Project A (Health Revenue, TD Bank NA LOC)		0.23			10/01/2034		1,125,000		1,125,000
									4,375,000

Virginia: 0.72%
Variable Rate Demand Notes§: 0.72%
Arlington County VA IDA Refunding MFHR Woodbury Park Apartments Project Series 2005-A (Housing Revenue, FHLMC Insured)		0.27			03/01/2035		800,000		800,000
Chesterfield County VA Health Center Community Residential Care Facilities Lucy Corr Village Series 2008-B (Miscellaneous Revenue, Branch Banking & Trust LOC)		0.29			12/01/2012		295,000		295,000
Fauquier County VA IDA Highland School Project Series 2008 (Education Revenue, Branch Banking & Trust LOC)		0.29			12/01/2033		4,250,000		4,250,000
Henrico County VA EDA Residential Care Facilities Westminster-Cantebury Richmond Series 2008 (Continuing Care Retirement Community, Branch Banking & Trust LOC)		0.32			10/01/2037		2,680,000		2,680,000
Norfolk VA Economic Development Authority Hospital Facilities Sentra Healthcare Series C (Hospital Revenue)		0.38			11/01/2034		9,250,000		9,250,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Salem VA IDA MFHR Oak Park Apartments Project Series 2008 (Housing Revenue, FNMA Insured)		0.27	%		08/15/2043	$	2,745,000	$	2,745,000
Virginia Commonwealth University Health System Authority Series B (Hospital Revenue, Branch Banking & Trust LOC)		0.26			07/01/2037		3,495,000		3,495,000
Virginia Small Business Financing Authority (IDR, Branch Banking & Trust LOC)		0.37			07/01/2024		1,420,000		1,420,000
									24,935,000

Washington: 1.87%
Variable Rate Demand Notes§: 1.87%
King County WA Housing Authority Summerfield Apartments Project for YWCA of Seattle-King County Series 2005 (Housing Revenue, U.S. Bank NA LOC)		0.35			09/01/2035		1,675,000		1,675,000
King County WA Sewer Series 3090 (Water & Sewer Revenue, FSA Insured) ††		0.26			01/01/2039		1,100,000		1,100,000
Seattle WA Water & Sewer Systems Eclipse Funding Trust Series 2006-0002 (Water & Sewer Revenue, U.S. Bank NA LOC)		0.25			09/01/2029		6,670,000		6,683,038
Washington Finance Authority Smith Brothers Farms Incorporated Series 2001 (Miscellaneous Revenue, Northwest Farm Credit LOC)		0.46			09/01/2021		3,300,000		3,300,000
Washington GO Austin Trust Variable Certificate Series 2007-A (GO - State, FSA Insured) ††		0.33			07/01/2014		4,640,000		4,640,000
Washington GO PUTTER Series 2640 (GO - State)		0.26			01/01/2016		9,995,000		9,995,000
Washington GO Series 2005-C (GO - State)		0.26			06/01/2027		5,630,000		5,630,000
Washington Housing Finance Commission Gonzaga Preparatory School (Education Revenue, Bank of America NA LOC)		0.34			09/01/2033		1,755,000		1,755,000
Washington Housing Finance Commission Nonprofit Tacoma Art Museum Project (Miscellaneous Revenue, Northern Trust Company LOC)		0.28			06/01/2032		5,775,000		5,775,000
Washington Housing Finance Commission Whisperwood Apartments Project Series A (Housing Revenue, FNMA Insured)		0.29			05/15/2035		1,590,000		1,590,000
Washington Housing Finance MFHR Heatherwood Community Apartments Project Series 2002-A (Housing Revenue)		0.30			06/01/2037		3,400,000		3,400,000
Washington Housing Finance MFHR Regency Park Apartments Project Series 1999-A (Housing Revenue, FHLMC Insured)		0.30			06/01/2027		7,805,000		7,805,000
Washington St Health Care Facilities Swedish Health Services Series B (Health Revenue, Citibank NA LOC)		0.25			11/15/2046		3,000,000		3,000,000
Washington State Economic Development Finance Authority Mercer Island Partners LLC Project (IDR, U.S. Bank NA LOC)		0.30			06/01/2027		1,200,000		1,200,000
Yakima County WA Public Corporation Macro Plastics Incorporated Project Series 1996 (IDR, Bank of the West LOC)		0.50			12/01/2026		2,980,000		2,980,000
Yakima County WA Public Corporation Revenue Valley Processing Project Bank of America (IDR, Bank of America NA LOC)		0.59			02/01/2015		1,700,000		1,700,000
Yakima County WA Solid Waste Disposal George Deruyter & Son Project Series 2006 (Resource Recovery Revenue, Northwest Farm Credit LOC)		0.46			08/01/2026		2,500,000		2,500,000
									64,728,038

West Virginia: 0.66%
Variable Rate Demand Notes§: 0.66%
Kanawha County WV Kroger Company Series 2004-A (IDR, U.S. Bank NA LOC)		0.33			02/01/2012		4,500,000		4,500,000
Kanawha County WV Kroger Company Series 2004-B (IDR, U.S. Bank NA LOC)		0.33			04/01/2013		6,850,000		6,850,000
Marmet WV Commercial Development Kroger Company Series 2004 (IDR, U.S. Bank NA LOC)		0.33			11/01/2012		3,100,000		3,100,000
West Virginia Economic Development Authority Ohio Power Company (Utilities Revenue, Bank of Nova Scotia LOC)		0.24			07/01/2014		1,200,000		1,200,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
West Virginia Economic Development Authority Solid Waste Disposal Appalachian Power Company (Resource Recovery Revenue, Sumitomo Mitsui Banking LOC)		0.28	%		12/01/2042	$	2,300,000	$	2,300,000
West Virginia Economic Development Authority Solid Waste Disposal Appalachian Power Company (Resource Recovery Revenue, Mizuho Corporate Bank LOC)		0.33			02/01/2036		3,000,000		3,000,000
West Virginia EDA Coastal Lumber Products Project Series A (IDR, Branch Banking & Trust LOC)		0.47			09/01/2015		1,160,000		1,160,000
West Virginia EDA Coastal Lumber Products Project Series B (IDR, Branch Banking & Trust LOC)		0.47			09/01/2015		700,000		700,000
									22,810,000

Wisconsin: 2.51%
Other Municipal Debt: 0.35%
Wisconsin State HEFA (Hospital Revenue, PNC Bank NA LOC)		0.42			09/01/2011		6,000,000		6,000,000
Wisconsin State HEFA (Hospital Revenue, State Street Bank & Trust Company LOC)		0.42			09/01/2011		6,000,000		6,000,000
									12,000,000

Variable Rate Demand Notes§: 2.16%
Appleton WI Recovery Zone Facilities Foremost Farms USA (Miscellaneous Revenue, CoBank ACB LOC)		0.26			05/01/2037		26,000,000		26,000,000
Belgium WI Trimen Industries Incorporated Project Series 2006 (IDR, U.S. Bank NA LOC)		0.39			02/01/2026		3,610,000		3,610,000
Hull WI Welcome Dairy Incorporated Project Series 2010-A (IDR, Associated Bank NA LOC)		0.33			01/01/2027		740,000		740,000
Hull WI Welcome Dairy Incorporated Project Series 2010-B (IDR, Associated Bank NA LOC)		0.29			01/01/2027		3,435,000		3,435,000
Manitowoc WI CDA Regency House Project (Housing Revenue, Bank First National LOC)		0.55			11/01/2020		1,435,000		1,435,000
Newton WI Stecker Machine Company Incorporated Project Series 2001 (IDR, FHLB LOC)		0.35			09/01/2021		2,090,000		2,090,000
Oneida Tribe Of Indians of Wisconsin (Health Revenue, Bank of America NA LOC)		0.35			07/01/2016		6,380,000		6,380,000
Sheboygan WI Alaark Manufacturing Corporation Project Series 2000 (IDR, U.S. Bank NA LOC)		0.35			12/01/2021		1,615,000		1,615,000
Sheboygan WI Vortex Liquid Color Project (IDR, Bank First National LOC)		0.31			11/01/2020		1,340,000		1,340,000
Two Rivers WI Riverside Foods Incorporated Project (IDR, Bank First National LOC)		0.32			12/01/2022		2,100,000		2,100,000
Wisconsin HEFA St. Camillus Health Center Project Series 2005 (Health Revenue, U.S. Bank NA LOC)		0.26			02/01/2035		2,325,000		2,325,000
Wisconsin Housing & EDFA Series 2879 (Housing Revenue, GO of Authority Insured)		0.39			03/01/2015		2,070,000		2,070,000
Wisconsin Housing & EDFA Zero Zone Incorporated Project Series 1999 (IDR, U.S. Bank NA LOC)		0.45			08/01/2019		3,420,000		3,420,000
Wisconsin Public Power PUTTER Series 1232 (Utilities Revenue, BHAC-CR AMBAC Insured)		0.34			07/01/2013		10,310,000		10,310,000
Wisconsin State HEFA Aurora Health Care Series A (Hospital Revenue, Bank of Montreal LOC)		0.22			04/01/2028		8,155,000		8,155,000
									75,025,000

Wyoming: 0.11%
Variable Rate Demand Note§: 0.11%
Wyoming Student Loan Corporation (Education Revenue, Royal Bank of Canada LOC)		0.26			12/01/2043		3,850,000		3,850,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MUNICIPAL MONEY MARKET FUND


Total Investments in Securities (Cost $3,417,427,320)*	98.62	%	$	3,417,427,320
Other Assets and Liabilities, Net	1.38			47,922,443

Total Net Assets	100.00	%	$	3,465,349,763

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

§	Variable rate demand notes are subject to demand features which reduce the effective maturity.

(q)

Credit enhancement is provided by an affiliate.

*	Cost for federal income tax purposes is substantially the same as for financial reporting purposes.

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Municipal Bonds and Notes: 98.88%
Alabama: 2.81%
Variable Rate Demand Notes§: 2.81%
Homewood AL Educational Building Authority (Education Revenue, Branch Banking & Trust LOC)		0.26	%		12/01/2043	$	10,000,000	$	10,000,000
Lower Alabama Gas District Supply Revenue Series A (Utilities Revenue, Societe Generale LOC)		0.27	%		11/01/2027		47,000,000		47,000,000
Mobile AL Industrial Development Board Alabama Power Company Project Series C (Utilities Revenue)		0.28	%		08/01/2017		12,000,000		12,000,000
Mobile AL Infirmary Health System Special Care Facilities Series A (Hospital Revenue)		0.25	%		02/01/2040		6,300,000		6,300,000
Mobile County AL IDA Series B (Energy Revenue, Svenska HandelsBanken LOC)		0.26	%		07/01/2040		22,500,000		22,500,000
Southeast Alabama Gas District Alabama Supply Project Series 2007-A (Utilities Revenue)		0.24	%		08/01/2027		13,450,000		13,450,000
Washington County AL IDA Bay Gas Storage company Limited Project (IDR, UBS AG LOC)		0.24	%		08/01/2037		9,165,000		9,165,000
									120,415,000

Alaska: 0.57%
Variable Rate Demand Notes§: 0.57%
Alaska State Housing Finance Corporation PUTTER Series DB-507 (Housing Revenue, FGIC GO of Corporation Insured)		0.26	%		12/01/2034		8,490,000		8,490,000
Alaska State Housing Finance Corporation PUTTER Series DB-532 (Housing Revenue, NATL-RE GO of Corporation Insured)		0.26	%		12/01/2041		15,705,000		15,705,000

									24,195,000

Arizona: 1.06%
Variable Rate Demand Notes§: 1.06%
Maricopa County AZ IDA Gran Victoria Housing LLC Project A (Housing Revenue, FNMA Insured)		0.26	%		04/15/2030		10,400,000		10,400,000
Mesa AZ Utility System PUTTER (Utilities Revenue, State Street Bank LOC)		0.26	%		07/01/2024		35,055,000		35,055,000
									45,455,000

California: 5.14%
Variable Rate Demand Notes§: 5.14%
ABAG Finance Authority for Nonprofit Corporation California St. Anthony Foundation (Miscellaneous Revenue, Bank of America NA LOC)		0.35	%		03/01/2037		1,645,000		1,645,000
Bay Area CA Toll Authority (Transportation Revenue, Union Bank NA LOC)		0.20	%		04/01/2047		2,850,000		2,850,000
California Coast Community College Capital Appreciation Election 2002 PUTTER DB-621 (GO - Local, FSA Insured)		0.26	%		08/01/2028		4,435,000		4,435,000
California Finance Authority Kehillah Jewish High School Series 2009 (Education Revenue, California Bank & Trust LOC)		0.24	%		08/01/2039		325,000		325,000
California Infrastructure & Economic Development Bank ROC RR II R-11527 (Transportation Revenue, AMBAC Insured)		0.24	%		07/01/2030		3,145,000		3,145,000
California Infrastructure & Economic Development Bank J Paul Project A-4 (Miscellaneous Revenue)		0.20	%		10/01/2047		24,700,000		24,700,000
California PCFA Hilmar Cheese Company Project Series 20 (Miscellaneous Revenue, Bank of the West LOC)		0.26	%		11/01/2034		9,695,000		9,695,000
California State Series A2 (GO - State, Bank of Montreal LOC)		0.21	%		05/01/2033		325,000		325,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
California Statewide CDA Gas Supply (Energy Revenue)		0.25	%		11/01/2040	$	30,575,000	$	30,575,000
California Statewide CDA Rady Children’s Hospital Series A (Hospital Revenue, U.S. Bank NA LOC)		0.22	%		08/15/2047		4,100,000		4,100,000
California Statewide CDA Sweep Loan Program Series A (Hospital Revenue, CitiBank NA LOC)		0.24	%		08/01/2035		460,000		460,000
California Statewide CDA University Retirement Community Project (Health Revenue, Bank of America NA LOC)		0.27	%		11/15/2038		370,000		370,000
Campton CA USD 2002 Election Series D PUTTER DB-362 (GO - Local, AMBAC Insured)		0.25	%		06/01/2022		18,020,000		18,020,000
East Bay CA Municipal Utility District ROC RR 11 R-11288 (Water Utilities, FSA, FGIC Insured)		0.26	%		06/01/2015		11,515,000		11,515,000
El Dorado CA Irrigation District & El Dorado Water Agency Series A (Lease Revenue, CitiBank NA LOC)		0.25	%		03/01/2036		11,400,000		11,400,000
Golden State Tobacco Securitization Corporation California Tobacco Settlement ROC RR II R-11442 (Tobacco Revenue, AGC-ICC Insured)		0.46	%		06/01/2035		3,055,000		3,055,000
Kings County CA Housing Authority Edgewater Apartments Series A (Housing Revenue, FNMA Insured)		0.24	%		02/15/2031		4,710,000		4,710,000
Metropolitan Water District Southern California Waterworks Series C2 (Water & Sewer Revenue)		0.19	%		07/01/2036		4,000,000		4,000,000
Orange County CA COP Sanitation District Series A (Water & Sewer Revenue)		0.22	%		08/01/2029		19,040,000		19,040,000
Pasadena CA COP Series A (Lease Revenue, Bank of America NA LOC)		0.24	%		02/01/2035		5,670,000		5,670,000
Rancho Santiago CA Community College District Capital Appreciation Election 2002 Series C PUTTER DB-363 (GO - Local, FSA Insured)		0.25	%		09/01/2030		18,540,000		18,540,000
Sacramento County CA River Pointe Housing Authority Apartments Series B (Housing Revenue, FNMA LOC, FNMA Insured)		0.26	%		08/15/2027		10,000,000		10,000,000
San Francisco CA City & County Finance Corporation Moscone Center (Lease Revenue, State Street Bank & Trust Company LOC)		0.21	%		04/01/2030		5,360,000		5,360,000
Sweetwater CA Union High School District ROC RR II 11484 (GO - Local, FSA Insured)		0.41	%		02/01/2013		1,880,000		1,880,000
University of California ROC RR II R 11661 (Education Revenue, FSA Insured)		0.26	%		05/15/2032		3,600,000		3,600,000
Victorville CA Joint Powers Finance Authority Project A (Utilities Revenue, BNP Paribas LOC)		1.75	%		05/01/2040		20,490,000		20,490,000
									219,905,000

Colorado: 2.01%
Variable Rate Demand Notes§: 2.01%
Aurora CO Centretech Metropolitan District (GO - Local, U.S. Bank NA LOC)		0.28	%		12/01/2017		2,765,000		2,765,000
Aurora CO Centretech Metropolitan District (GO - Local, U.S. Bank NA LOC)		0.28	%		12/01/2028		2,995,000		2,995,000
Broomfield CO Urban Renewal Authority Event Center Project (Tax Revenue, BNP Paribas LOC)		0.26	%		12/01/2030		13,700,000		13,700,000
Colorado Health Facilities Authority Crossroads Maranatha Projects (Health Revenue, U.S. Bank NA LOC)		0.25	%		12/01/2043		5,800,000		5,800,000
Colorado Health Facilities Authority Exempla Incorporated Project Series 2002-B (Health Revenue, U.S. Bank NA LOC)		0.25	%		01/01/2033		1,245,000		1,245,000
Commerce City CO Northern Infrastructure General Improvement District (GO - Local, U.S. Bank NA LOC)		0.28	%		12/01/2028		5,000,000		5,000,000
Commerce City CO Northern Infrastructure General Improvement District (GO - Local, U.S. Bank NA LOC)		0.28	%		12/01/2038		8,625,000		8,625,000
Cornerstone CO Metropolitan District #2 (Tax Revenue, Bank of America NA LOC)		0.29	%		12/01/2046		6,090,000		6,090,000
Denver CO City & County Cottonwood Creek Series A (Housing Revenue, FHLMC Insured)		0.28	%		04/15/2014		6,850,000		6,850,000
Moffat County CO Tri State General Association Project (Utilities Revenue, Bank of America NA LOC)		0.25	%		03/01/2036		11,250,000		11,250,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Mountain Village CO Housing Authority Facilities Remarketing Project (Housing Revenue, U.S. Bank NA LOC)		0.28	%		11/01/2040	$	6,440,000	$	6,440,000
South Glenn CO Metropolitan District (Tax Revenue, BNP Paribas LOC)		0.28	%		12/01/2030		11,010,000		11,010,000
Southeast CO Public Improvement Metropolitan District (GO - Local, U.S. Bank NA LOC)		0.28	%		11/15/2034		4,030,000		4,030,000
									85,800,000

Delaware: 0.21%
Variable Rate Demand Notes§: 0.21%
Delaware State Economic Development Authority YMCA Delaware Projects (Miscellaneous Revenue, PNC Bank NA LOC)		0.28	%		05/01/2036		3,900,000		3,900,000
Delaware State Health Facilities Authority Series B (Hospital Revenue, PNC Bank NA LOC)		0.25	%		07/01/2039		4,945,000		4,945,000
									8,845,000

District of Columbia: 0.91%
Other Municipal Debt: 0.59%
District of Columbia TRAN (GO - Local)		2.00	%		09/30/2011		25,000,000		25,171,819

Variable Rate Demand Note§: 0.32%
District of Columbia The American University (Education Revenue, Bank of America NA LOC)		0.24	%		10/01/2038		13,900,000		13,900,000

Florida: 3.84%
Other Municipal Debt: 0.44%
Orlando FL Utilities Commission Series D (Utilities Revenue)		2.50	%		05/01/2011		19,000,000		19,000,000

Variable Rate Demand Notes§: 3.40%
Broward County Educational Facilities Authority (Education Revenue, Bank of America NA LOC)		0.28	%		04/01/2020		7,265,000		7,265,000
Capital Transfer Agency Florida Portofino Villas Series A (Housing Revenue, FNMA Insured)		0.26	%		04/15/2036		11,400,000		11,400,000
Duval County FL HFA Sunbeam Road Apartments Project (Housing Revenue, U.S. Bank NA LOC)		0.26	%		07/01/2025		4,000,000		4,000,000
Eclipse Funding Trust 2006-0002-Solar Eclipse (Tax Revenue, U.S. Bank NA LOC)		0.25	%		03/01/2014		9,975,000		9,975,000
Florida HFA (Housing Revenue, FHLMC Insured)		0.26	%		12/01/2013		7,100,000		7,100,000
Fort Lauderdale FL Ann Storck Center Incorporated Project (Health Revenue, Wells Fargo Bank NA LOC) (q)		0.43	%		12/01/2014		350,000		350,000
Highlands County FL Health Facilities Authority (Hospital Revenue, PNC Bank NA LOC)		0.24	%		11/15/2012		3,865,000		3,865,000
Hillsborough County FL School Board COP Series C (Lease Revenue, Wells Fargo Bank NA LOC, NATL-RE Insured) (q)		0.23	%		07/01/2030		595,000		595,000
Jea FL Electrical System Revenue (Utilities Revenue, Bank of Montreal LOC)		0.24	%		10/01/2035		10,000,000		10,000,000
Lee Memorial Health Services Florida Project Series 3088 (Hospital Revenue) ††		0.26	%		04/01/2037		20,035,000		20,035,000
Miami-Dade County FL Special Obligation Capital Asset Acquisition Series A PUTTER DBE-538 (Tax Revenue, AMBAC Insured)		0.26	%		04/01/2027		4,475,000		4,475,000
Orange County FL Central Florida YMCA Project Series A (Miscellaneous Revenue, Bank of America NA LOC)		0.29	%		05/01/2027		1,320,000		1,320,000
Orange County FL Health Facilities Authority Adventist Health System (Health Revenue)		0.23	%		11/15/2026		7,000,000		7,000,000
Orange County FL IDA Jewish Federation of Greater Orlando Project (Miscellaneous Revenue, Bank of America NA LOC)		0.27	%		01/01/2028		2,990,000		2,990,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Orange County FL IDA Lake Highland School Incorporated (Miscellaneous Revenue, Bank of America NA LOC)		0.29	%		08/01/2032	$	5,000,000	$	5,000,000
Orange County FL School Board COP Series E (Lease Revenue, Wells Fargo Bank NA LOC) (q)		0.23	%		08/01/2022		2,000,000		2,000,000
Orlando FL Utilities Commission Series A (Utilities Revenue)		0.37	%		10/01/2027		6,745,000		6,745,000
Palm Beach County FL Children’s Home Project (Miscellaneous Revenue, Bank of America NA LOC)		0.35	%		05/01/2038		4,025,000		4,025,000
Palm Beach County FL Jupiter Medical Center Incorporated Series B (Hospital Revenue, TD Bank NA LOC)		0.22	%		08/01/2020		6,465,000		6,465,000
Palm Beach County FL Norton Gallery Incorporated (Miscellaneous Revenue, Northern Trust Company LOC)		0.30	%		05/01/2025		1,465,000		1,465,000
Palm Beach County FL School Board Series 2925Z (Lease Revenue, FSA Insured)		0.31	%		08/01/2011		7,845,000		7,845,000
Palm Beach County FL Zoological Society Incorporated Project (Miscellaneous Revenue, Northern Trust Company LOC)		0.27	%		05/01/2031		2,500,000		2,500,000
Pinellas County FL Health Facilities Authority BayCare Health Series A-1 (Hospital Revenue, U.S. Bank NA LOC)		0.22	%		11/01/2038		2,500,000		2,500,000
Sarasota County FL Planned Parenthood Incorporated Project (Miscellaneous Revenue, Harris NA LOC)		0.31	%		10/01/2041		4,290,000		4,290,000
Sarasota County FL Sarasota Military Academy (Education Revenue, Wells Fargo Bank NA LOC) (q)		0.38	%		02/01/2034		1,230,000		1,230,000
South Florida Water Management District ROC RR II R-12313 (Water & Sewer Revenue, AGM-CR AMBAC Insured) ††		0.26	%		04/01/2015		4,600,000		4,600,000
West Palm Beach FL City Hall Project PUTTER Series DB-547 (Tax Revenue, NATL-RE Insured)		0.26	%		10/01/2026		6,290,000		6,290,000
									145,325,000

Georgia: 2.43%
Variable Rate Demand Notes§: 2.43%
Atlanta GA Airport Passenger Facility Charge (Airport Revenue, FSA Insured)		0.41	%		01/01/2013		12,650,000		12,650,000
Atlanta GA Development Authority Perkins Will Incorporated Project (Miscellaneous Revenue, Harris NA LOC)		0.28	%		11/01/2030		3,580,000		3,580,000
Atlanta GA Metropolitan Rapid Transit Authority Third Indenture Series B PUTTER (Tax Revenue, AGM Insured) ††		0.31	%		01/01/2016		2,500,000		2,500,000
Atlanta GA Westside Project Series B (Tax Revenue, Wells Fargo Bank NA LOC) (q)		0.28	%		12/01/2023		5,465,000		5,465,000
Cobb County GA Housing Authority Tamarron Apartments Project (Housing Revenue, FHLMC Insured)		0.24	%		03/01/2024		3,195,000		3,195,000
Fulton County GA Development Authority Shepherd Center (Hospital Revenue, FHLB LOC)		0.27	%		09/01/2035		14,675,000		14,675,000
Fulton County GA Development Authority St. George Village Project (Health Revenue, Bank of America NA LOC)		0.29	%		04/01/2034		1,820,000		1,820,000
Fulton County GA Development Authority The Lovett School Project Series 2008 (Education Revenue, FHLB LOC)		0.27	%		04/01/2033		12,000,000		12,000,000
Gwinnett County GA Development Authority Goodwill North GA Incorporated Project (Miscellaneous Revenue, Branch Banking & Trust LOC)		0.29	%		10/01/2033		5,000,000		5,000,000
Gwinnett County GA Hospital Authority Series A (Hospital Revenue, FHLB LOC)		0.27	%		07/01/2036		9,835,000		9,835,000
Gwinnett County GA School District PUTTER Series 2007-1011 (Housing Revenue, GO of Authority Insured)		0.33	%		07/01/2041		2,875,000		2,875,000
Macon-Bibb County GA Hospital Authority Anticipation Note Medical Center Series B (Hospital Revenue, Branch Banking & Trust LOC)		0.28	%		07/01/2028		5,700,000		5,700,000
Main Street Natural Gas Incorporated Gas Project Series A (Utilities Revenue)		0.26	%		08/01/2040		1,300,000		1,300,000
Private Colleges and Universities Authority of Georgia Mercer University Project Series 2003 (Education Revenue, Branch Banking & Trust LOC)		0.27	%		10/01/2032		8,630,000		8,630,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Private Colleges and Universities Authority of Georgia Mercer University Project Series 2006-A (Education Revenue, Branch Banking & Trust LOC)		0.27	%		10/01/2036	$	5,500,000	$	5,500,000
Rosell GA Housing Authority (Housing Revenue, FHLMC Insured)		0.24	%		01/01/2034		9,385,000		9,385,000
									104,110,000

Hawaii: 0.12%
Variable Rate Demand Note§: 0.12%
Hawaii Housing Finance & Development Corporation Lokahi Kau Series 2008 (Housing Revenue, FHLMC Insured)		0.24	%		12/01/2041		5,200,000		5,200,000

Idaho: 0.22%
Variable Rate Demand Note§: 0.22%
Coeur d’ Alene ID (Miscellaneous Revenue, Bank of America NA LOC)		0.29	%		08/15/2022		9,200,000		9,200,000

Illinois: 11.93%
Other Municipal Debt: 0.23%
Illinois Finance Authority (Miscellaneous Revenue)		0.28	%		05/04/2011		10,000,000		10,000,000

Variable Rate Demand Notes§: 11.70%
Aurora IL Economic Development Aurora University(Education Revenue, Harris Trust & Savings Bank LOC)		0.28	%		03/01/2035		4,225,000		4,225,000
Austin Trust Series 2008-1098 (Hospital Revenue, Assured Guaranty Insured)		0.36	%		08/15/2047		16,695,000		16,695,000
Chicago IL Neighborhoods Alive (GO - Local, Bank of America NA LOC)		0.28	%		01/01/2037		8,000,000		8,000,000
Chicago IL O’Hare International Airport Series A PUTTER DB-502 (Airport Revenue, FSA Insured)		0.26	%		01/01/2033		3,130,000		3,130,000
Chicago IL O’Hare International Airport Third Lien PUTTER DBE-534 (Airport Revenue, AMBAC Insured)		0.26	%		01/01/2022		4,515,000		4,515,000
Chicago IL ROC RR II R-720PB (Water & Sewer Revenue, FSA, FGIC Insured)		0.30	%		01/01/2015		9,000,000		9,000,000
Chicago IL ROC RR II R-11940 (Tax Revenue) ††		0.31	%		07/01/2028		2,000,000		2,000,000
Chicago IL Series F (GO - Local)		0.50	%		01/01/2042		15,000,000		15,000,000
Chicago IL Water Revenue Subseries 04-3 (Water & Sewer Revenue, State Street Bank & Trust Company LOC)		0.24	%		11/01/2031		3,180,000		3,180,000
Cook County IL (GO - Local, FSA-CR AMBAC Insured) ††		0.26	%		11/15/2011		49,500,000		49,500,000
DeWitt Ford & Livingston Counties IL Community College District PUTTER DB-555 (GO - Local, FSA Insured)		0.26	%		12/01/2021		1,590,000		1,590,000
Eagle Tax Exempt Trust (Tax Revenue, FSA GO of Authority Insured) ††		0.28	%		06/01/2025		9,900,000		9,900,000
Eclipse Funding Trust (Water & Sewer Revenue, U.S. Bank NA LOC)		0.25	%		05/01/2014		29,815,000		29,815,000
Eclipse Funding Trust (Water & Sewer Revenue, U.S. Bank NA LOC)		0.25	%		01/01/2030		11,285,000		11,285,000
Illinois Development Finance Authority (Miscellaneous Revenue, Bank of America NA LOC)		0.40	%		01/01/2029		3,803,000		3,803,000
Illinois Development Finance Authority Aurora Cent Catholic High School (Education Revenue, JPMorgan Chase & Company LOC)		0.29	%		04/01/2024		4,045,000		4,045,000
Illinois Development Finance Authority Chicago Academy of Sciences (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		0.29	%		01/01/2033		5,480,000		5,480,000
Illinois Development Finance Authority Cook Communications Project (Miscellaneous Revenue, Bank of America NA LOC)		0.44	%		03/01/2017		4,500,000		4,500,000
Illinois Development Finance Authority Lake Forest Academy (Education Revenue, Northern Trust Company LOC)		0.29	%		12/01/2024		1,000,000		1,000,000
Illinois Development Finance Authority McCormick Theological Project B (Education Revenue, Northern Trust Company LOC)		0.27	%		06/01/2035		22,435,000		22,435,000
Illinois Development Finance Authority Presbyterian Homes Project (Health Revenue, Northern Trust Company LOC)		0.29	%		04/01/2035		9,000,000		9,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Illinois Development Finance Authority St. Ignatius College (Education Revenue, Northern Trust Company LOC)		0.29	%		06/01/2024	$	10,000,000	$	10,000,000
Illinois Development Finance Authority YMCA Metropolitan Chicago Project (Miscellaneous Revenue, Harris Trust & Savings Bank LOC)		0.27	%		06/01/2029		23,700,000		23,700,000
Illinois Educational Facilities Authority Chicago Zoological Society Series B (Miscellaneous Revenue)		0.29	%		12/15/2025		5,000,000		5,000,000
Illinois Educational Facilities Authority Newberry Library Project (Miscellaneous Revenue, Northern Trust Company LOC)		0.27	%		03/01/2028		260,000		260,000
Illinois Finance Authority Bradley University Series A (Education Revenue, PNC Bank NA LOC)		0.25	%		04/01/2033		6,135,000		6,135,000
Illinois Finance Authority British Home Retired Men (Health Revenue, LaSalle Bank NA LOC)		0.35	%		11/01/2027		5,260,000		5,260,000
Illinois Finance Authority Children’s Museum Remarket (Miscellaneous Revenue, Northern Trust Company LOC)		0.29	%		07/01/2034		1,970,000		1,970,000
Illinois Finance Authority Elmhurst Memorial Healthcare Series D (Hospital Revenue, Northern Trust Company LOC)		0.25	%		01/01/2048		8,600,000		8,600,000
Illinois Finance Authority Lake Forest Country Day School Project (Education Revenue, Northern Trust Company LOC)		0.29	%		07/01/2035		12,750,000		12,750,000
Illinois Finance Authority Loyola Academy (Education Revenue, JPMorgan Chase Bank LOC)		0.29	%		10/01/2037		11,500,000		11,500,000
Illinois Finance Authority Pollution Control (Utilities Revenue, JPMorgan Chase Bank LOC)		0.28	%		05/01/2021		8,305,000		8,305,000
Illinois Finance Authority Presbyterian Homes (Health Revenue, Northern Trust Company LOC)		0.29	%		09/01/2024		22,605,000		22,605,000
Illinois Finance Authority Richard H. Driehaus Museum (Miscellaneous Revenue, Northern Trust Company LOC)		0.29	%		02/01/2035		10,100,000		10,100,000
Illinois Finance Authority Southern Illinois Healthcare (Hospital Revenue, Bank of Nova Scotia LOC)		0.24	%		03/01/2038		9,020,000		9,020,000
Illinois Finance Authority Spertus Institute (Education Revenue, Northern Trust Company LOC)		0.29	%		09/01/2035		43,570,000		43,570,000
Illinois Finance Authority St. Ignatius College (Education Revenue, JPMorgan Chase Bank LOC)		0.29	%		12/01/2036		13,000,000		13,000,000
Illinois Finance Authority The Catherine Cook School Project (Education Revenue, Northern Trust Company LOC)		0.29	%		01/01/2037		5,820,000		5,820,000
Illinois Finance Authority Xavier University (Education Revenue, Bank of America NA LOC)		0.27	%		10/01/2033		3,655,000		3,655,000
Illinois Metropolitan Pier & Exposition Authority Series 3219 (Tax Revenue) ††		0.26	%		06/15/2050		15,000,000		15,000,000
Illinois State Toll Highway Authority Priority RMKT A 2A (Transportation Revenue)		0.29	%		07/01/2030		9,000,000		9,000,000
Illinois State Xavier University Project Series A (Education Revenue, LaSalle Bank NA LOC)		0.27	%		10/01/2032		9,805,000		9,805,000
Lake Villa IL Allendale Association Project (Health Revenue, LaSalle Bank NA LOC)		0.31	%		10/01/2026		2,530,000		2,530,000
Metropolitan & Exposition Authority Series 3220 (Tax Revenue) ††		0.26	%		06/15/2050		27,900,000		27,900,000
Saint Clair County IL Mckendree College Project (Education Revenue, Bank of America NA LOC)		0.27	%		06/01/2034		3,245,000		3,245,000
Schaumburg IL GO ROC-RR-II-R-11698 (GO - Local, BHAC-CR FGIC Insured) ††		0.26	%		12/01/2032		400,000		400,000
Springfield IL PUTTER Series 1314 (Utilities Revenue, BHAC Insured)		0.26	%		03/01/2014		13,575,000		13,575,000
									500,803,000

Indiana: 1.96%
Variable Rate Demand Notes§: 1.96%
Boone County IN Hospital Association PUTTER DBE-549 (GO - Local, FGIC Insured)		0.26	%		07/10/2021		2,870,000		2,870,000
Indiana Finance Authority Community Health Network Project 8 (Hospital Revenue, PNC Bank NA LOC)		0.25	%		07/01/2039		9,000,000		9,000,000
Indiana Finance Authority Northshore Health Center Project (Health Revenue, Harris NA LOC)		0.29	%		07/01/2038		5,340,000		5,340,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Indiana Health & Educational Facilities Finance Authority Clarian Health Obligated Group Series 2005-D (Hospital Revenue, Branch Banking & Trust LOC)		0.26	%		02/15/2030	$	16,510,000	$	16,510,000
Indiana Health & Educational Facilities Financing Authority Clarian Health Series C (Hospital Revenue, Branch Banking & Trust LOC)		0.25	%		02/15/2030		100,000		100,000
Indiana State Development Finance Authority Sycamore School Project (Education Revenue)		0.28	%		08/01/2024		3,220,000		3,220,000
Indianapolis IN Canal Square Apartments (Housing Revenue, FHLMC Insured)		0.26	%		04/01/2033		11,905,000		11,905,000
Indianapolis IN Industrial MFHR Washington Pointe Project A (Housing Revenue, Fleet National Bank LOC)		0.27	%		04/15/2039		8,490,000		8,490,000
Indianapolis Local Public Improvement Bond Bank ROC- RR- 11 R 1179 (Water & Sewer Revenue, Assured Guaranty Insured) ††		0.41	%		01/01/2017		24,825,000		24,825,000
Marion IN Economic Development Wesleyan University Project (Education Revenue, Bank of America NA LOC)		0.27	%		06/01/2036		1,400,000		1,400,000
									83,660,000

Iowa: 0.67%
Variable Rate Demand Notes§: 0.67%
Iowa Finance Authority Cedarwood Hills Project Series A (Housing Revenue)		0.26	%		05/01/2031		2,960,000		2,960,000
Iowa Higher Education Loan Authority Private College Dubuque Project (Education Revenue, Northern Trust Company LOC)		0.28	%		05/01/2029		8,045,000		8,045,000
Iowa Higher Education Loan Authority Private College Project (Education Revenue, JPMorgan Chase Bank LOC)		0.30	%		10/01/2038		3,695,000		3,695,000
Iowa Higher Education Loan Authority University of Dubuque (Education Revenue, Northern Trust Company LOC)		0.28	%		04/01/2035		14,065,000		14,065,000
									28,765,000

Kansas: 0.07%
Variable Rate Demand Note§: 0.07%
Kansas State Development Finance Authority Adventist Health Sunbelt Series C (Health Revenue)		0.23	%		11/15/2034		3,000,000		3,000,000

Kentucky: 3.57%
Other Municipal Debt: 2.32%
Kentucky Rural Water Finance Corporation Public Project Series C-1 (Water & Sewer Revenue)		1.50	%		12/01/2011		10,500,000		10,551,809
Louisville & Jefferson County KY Metropolitan Sewer District Sewer & Drain Systems Series A (Water & Sewer Revenue)		1.25	%		05/26/2011		89,000,000		89,036,049
									99,587,858

Variable Rate Demand Notes§: 1.25%
Fort Mitchell KY League of Cities Funding Trust Program Series A (Lease Revenue, U.S. Bank NA LOC)		0.25	%		10/01/2032		7,635,000		7,635,000
Kentucky EDFA Madonna Manor Project PUTTER Series P-Floats-MT-636 (Hospital Revenue) ††		0.33	%		12/01/2039		22,500,000		22,500,000
Kentucky EDFA St. Elizabeth Medical Series B (Hospital Revenue, JPMorgan Chase Bank LOC)		0.25	%		05/01/2033		5,000,000		5,000,000
Louisville & Jefferson County KY Metropolitan Government Waterford Place Apartments Project (Housing Revenue, FHLMC Insured)		0.24	%		01/01/2034		9,425,000		9,425,000
Williamstown KY League of Cities Funding Trust Lease Series 2008-A (Lease Revenue, U.S. Bank NA LOC)		0.25	%		07/01/2038		4,715,000		4,715,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Williamstown KY League of Cities Funding Trust Series B (Lease Revenue, U.S. Bank NA LOC)		0.25	%		12/01/2038	$	4,100,000	$	4,100,000
									53,375,000

Louisiana: 1.85%
Variable Rate Demand Notes§: 1.85%
Jefferson LA Sales Tax District PUTTER Series DBE-577 (Tax Revenue, AMBAC Insured)		0.26	%		12/01/2020		860,000		860,000
Louisiana HFA Woodward (Housing Revenue, FHLMC Insured)		0.26	%		09/01/2033		8,955,000		8,955,000
Louisiana Public Facilities Authority Port LLC Project Series 2008 (Miscellaneous Revenue, Bank of America NA LOC)		0.29	%		10/01/2028		1,100,000		1,100,000
Louisiana State Series A (GO - State, BNP Paribas LOC)		0.25	%		07/15/2026		16,165,000		16,165,000
Parish of St. James LA Series A-1 (Energy Revenue)		0.28	%		11/01/2040		41,000,000		41,000,000
Parish of St. James LA Series B-1 (Energy Revenue)		0.28	%		11/01/2040		11,000,000		11,000,000
									79,080,000

Maine: 0.14%
Variable Rate Demand Note§: 0.14%
Maine Finance Authority Foxcroft Academy (Education Revenue, TD Bank NA LOC)		0.24	%		06/01/2038		6,000,000		6,000,000

Maryland: 1.17%
Other Municipal Debt: 0.49%
Montgomery County MD Series 10-A (Tax Revenue)		0.28	%		07/06/2011		6,000,000		6,000,000
Montgomery County MD Series 10-B (Tax Revenue)		0.28	%		07/06/2011		15,000,000		15,000,000
									21,000,000

Variable Rate Demand Notes§: 0.68%
Maryland Health & Higher Educational Facilities Authority Johns Hopkins University Project Series 1003 (Education Revenue)		0.33	%		07/01/2033		6,665,000		6,665,000
Maryland Health & Higher Educational Facilities Authority University of Maryland Medicine System Series D (Hospital Revenue, TD Bank NA LOC)		0.23	%		07/01/2041		8,000,000		8,000,000
Maryland State HEFA University of Maryland Medical System Series E (Hospital Revenue, Bank of Montreal LOC)		0.27	%		07/01/2041		7,500,000		7,500,000
Montgomery County MD Economic Development (Health Revenue, Wells Fargo Bank NA LOC) (q)		0.38	%		03/01/2032		2,565,000		2,565,000
Montgomery County MD Housing Opportunities Series 2002-C (Housing Revenue, FNMA LOC)		0.28	%		11/01/2032		4,500,000		4,500,000
									29,230,000

Massachusetts: 1.46%
Variable Rate Demand Notes§: 1.46%
Massachusetts Development Finance Agency Boston University Series U-6E (Education Revenue)		0.20	%		10/01/2042		13,670,000		13,670,000
Massachusetts Development Finance Agency Cushing Academy Issue (Education Revenue, TD Bank NA LOC)		0.24	%		03/01/2034		12,045,000		12,045,000
Massachusetts State College Building Authority Series B PUTTER (Education Revenue)		0.26	%		05/01/2039		4,055,000		4,055,000
Massachusetts State Development Finance Agency Buckingham Brown & Nichols (Education Revenue, JPMorgan Chase Bank LOC)		0.29	%		06/01/2036		6,600,000		6,600,000
Massachusetts State Development Finance Agency Shady Hill School (Education Revenue, TD Bank NA LOC)		0.26	%		06/01/2038		10,345,000		10,345,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Massachusetts State HEFA Stonehill College Issue Series K (Education Revenue, Bank of America NA LOC)		0.23	%		07/01/2037	$	13,400,000	$	13,400,000
Massachusetts State Series A PUTTER (GO - State, NATL-RE FGIC Insured) ††		0.37	%		05/01/2037		2,520,000		2,520,000
									62,635,000

Michigan: 3.18%
Other Municipal Debt: 1.74%
Michigan Finance Authority Short Aid Notes Series D-1 (Miscellaneous Revenue)		2.00	%		08/19/2011		5,000,000		5,017,772
Michigan Finance Authority Short Aid Notes Series D-2 (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		2.00	%		08/22/2011		7,000,000		7,034,265
Michigan Finance Authority Short Aid Notes Series D-3 (Miscellaneous Revenue, Scotia Bank LOC)		2.00	%		08/22/2011		7,000,000		7,034,265
Michigan State Hospital Finance Authority Series 08-C (Health Revenue)		0.29	%		05/24/2011		13,400,000		13,400,000
Michigan State Hospital Finance Authority Series 08-C (Health Revenue)		0.29	%		07/12/2011		10,000,000		10,000,000
Michigan State Hospital Finance Authority Series 08-C (Health Revenue)		0.29	%		07/18/2011		10,000,000		10,000,000
Michigan State Hospital Finance Authority Series 09-B (Health Revenue)		0.29	%		07/12/2011		17,000,000		17,000,000
Michigan State Series A (GO - State)		2.00	%		09/30/2011		5,000,000		5,032,396
									74,518,698

Variable Rate Demand Notes§: 1.44%
Detroit MI ROC RR II R-11941 (Water & Sewer Revenue, AGM Insured) ††		0.41	%		01/03/2028		21,020,000		21,020,000
Green Lake Township MI Economic Development Corporation (Education Revenue, Harris NA LOC)		0.26	%		06/01/2034		2,000,000		2,000,000
Michigan State Hospital Finance Authority Ascension Health SR (Hospital Revenue)		0.35	%		11/15/2049		4,000,000		4,000,000
Michigan State Hospital Finance Authority Ascension Health SR (Hospital Revenue)		0.35	%		11/15/2047		4,200,000		4,200,000
Michigan State Hospital Finance Authority Holland Community Hospital Series B (Hospital Revenue, Bank One NA LOC)		0.28	%		01/01/2034		6,500,000		6,500,000
Royal Oak MI Hospital Finance Authority PUTTER DBE-711 (Hospital Revenue) ††		0.26	%		11/01/2035		24,000,000		24,000,000
									61,720,000

Minnesota: 5.87%
Other Municipal Debt: 1.92%
Minnesota Rural Water Finance Authority Public Projects Construction (Water & Sewer Revenue)		1.25	%		04/01/2012		2,800,000		2,815,258
Minnesota State Trunk Highway Series B (GO - State)		4.00	%		08/01/2011		2,000,000		2,018,494
Rochester MN Health Care Series 00-A (Hospital Revenue)		0.27	%		05/02/2011		9,000,000		9,000,000
Rochester MN Health Care Series 01-B (Hospital Revenue)		0.27	%		05/02/2011		35,000,000		35,000,000
Rochester MN Health Care Series 01-C (Hospital Revenue)		0.27	%		05/02/2011		20,000,000		20,000,000
Rochester MN Health Care Series 92-C (Hospital Revenue)		0.25	%		05/02/2011		13,200,000		13,200,000
									82,033,752

Variable Rate Demand Notes§: 3.95%
Andover MN Senior Housing Presbyterian Homes Incorporated Project (Housing Revenue, FNMA Insured)		0.26	%		11/15/2033		8,035,000		8,035,000
Bloomington MN Bristol Village (Housing Revenue, FNMA Insured)		0.30	%		11/15/2032		2,950,000		2,950,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Bloomington MN Presbyterian Homes (Housing Revenue, FHLMC Insured)		0.26	%		07/01/2038	$	3,675,000	$	3,675,000
Brooklyn Center MN Brookdale Corporation II Project (Miscellaneous Revenue, U.S. Bank NA LOC)		0.28	%		12/01/2014		500,000		500,000
Burnsville MN Berkshire Project Series A (Housing Revenue, FNMA Insured)		0.26	%		07/15/2030		4,145,000		4,145,000
Burnsville MN Southwind Apartments Project (Housing Revenue, FHLMC Insured)		0.26	%		01/01/2035		8,350,000		8,350,000
Crystal MN MFHR Crystal Apartments Project (Housing Revenue, FHLMC Insured)		0.26	%		05/01/2027		3,250,000		3,250,000
Dakota County MN CDA Catholic Finance Corporation (Education Revenue, U.S. Bank NA LOC)		0.38	%		01/01/2012		3,475,000		3,475,000
Dakota County MN RDA (Housing Revenue, FHLMC Insured)		0.29	%		06/01/2029		3,685,000		3,685,000
Eden Prairie MN Eden Glen Apartments Project (Housing Revenue, FNMA Insured)		0.26	%		02/15/2031		990,000		990,000
Edina MN Edina Park Plaza (Housing Revenue, FHLMC Insured)		0.26	%		12/01/2029		2,680,000		2,680,000
Forest Lake MN Kilkenny Court Apartments Project (Housing Revenue, FNMA Insured)		0.26	%		08/15/2038		4,100,000		4,100,000
Inver Grove Heights MN Inver Grove Incorporated Project (Housing Revenue, FNMA Insured)		0.26	%		05/15/2035		10,420,000		10,420,000
Maple Grove MN MFHR Basswood Trails Project (Housing Revenue, FHLMC Insured)		0.26	%		03/01/2029		1,620,000		1,620,000
Maplewood MN Educational Facilities Mounds Park Academy Project (Education Revenue, U.S. Bank NA LOC)		0.27	%		10/01/2023		115,000		115,000
Maplewood MN Educational Facilities Mounds Park Academy Project (Education Revenue, U.S. Bank NA LOC)		0.27	%		10/01/2031		205,000		205,000
Minneapolis & St. Paul MN Housing & RDA Allina Health Systems Series B-1 (Hospital Revenue, JPMorgan Chase Bank LOC)		0.25	%		11/15/2035		350,000		350,000
Minneapolis & St. Paul MN Housing & RDA Health Care Facilities Series A (Hospital Revenue, AGM Insured)		0.29	%		08/15/2034		500,000		500,000
Minneapolis & St. Paul MN Metro Airports Commission Series A PUTTER DB-489 (Airport Revenue, AMBAC Insured)		0.26	%		01/01/2030		6,935,000		6,935,000
Minneapolis MN Housing Development Symphony Place Project (Housing Revenue, FHLMC Insured)		0.26	%		12/01/2014		500,000		500,000
Minneapolis MN MacPhail Center for Music Project (Miscellaneous Revenue, U.S. Bank NA LOC)		0.28	%		08/01/2036		965,000		965,000
Minneapolis MN Minnehaha Academy Project (Education Revenue, U.S. Bank NA LOC)		0.28	%		05/01/2026		1,473,000		1,473,000
Minnesota State Concordia University Series P1 (Education Revenue, U.S. Bank NA LOC)		0.28	%		04/01/2027		955,000		955,000
Minnesota State University of St. Thomas Series 4O (Education Revenue, U.S. Bank NA LOC)		0.26	%		10/01/2021		4,895,000		4,895,000
Minnesota State University of St. Thomas Series 6H (Education Revenue, U.S. Bank NA LOC)		0.26	%		10/01/2032		2,950,000		2,950,000
Minnetonka MN Housing Facilities Beacon Hill (Housing Revenue, FNMA Insured)		0.26	%		05/15/2034		5,435,000		5,435,000
Minnetonka MN Minnetonka Hills Apartments (Housing Revenue, FNMA Insured)		0.26	%		11/15/2031		2,665,000		2,665,000
Oak Park Heights MN Boutwells Landing Project (Housing Revenue, FHLMC Insured)		0.26	%		11/01/2035		9,390,000		9,390,000
Pine City MN State Agency (Housing Revenue, FNMA Insured)		0.26	%		04/15/2036		5,060,000		5,060,000
Plymouth MN Lancaster Village Apartments Project (Housing Revenue, FNMA Insured)		0.26	%		09/15/2031		2,865,000		2,865,000
Rochester MN Health Care Facilities Mayo Foundation (Hospital Revenue)		0.24	%		08/15/2032		10,750,000		10,750,000
Spring Lake Park MN Senior Housing Oak Crest Apartments Project (Housing Revenue, FNMA Insured)		0.26	%		02/15/2033		1,130,000		1,130,000
St. Anthony MN Autumn Woods Housing Project (Housing Revenue, FNMA Insured)		0.26	%		05/15/2032		2,550,000		2,550,000
St. Cloud MN Cenracare Health Series A (Hospital Revenue, U.S. Bank NA LOC)		0.24	%		05/01/2042		23,440,000		23,440,000
St. Louis Park MN Knollwood Place (Housing Revenue, FHLMC Insured)		0.26	%		10/01/2035		11,300,000		11,300,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
St. Louis Park MN MFHR Parkshore Project (Housing Revenue, FHLMC Insured)		0.26	%		08/01/2034	$	1,045,000	$	1,045,000
St. Paul MN Housing & RDA Science Museum of Minnesota Series A (Miscellaneous Revenue, U.S. Bank NA LOC)		0.26	%		05/01/2027		400,000		400,000
St. Paul MN Port Authority District Cooling Series 13-FF (Utilities Revenue, Deutsche Bank AG LOC)		0.23	%		03/01/2029		2,655,000		2,655,000
St. Paul MN Port Authority District Heating Series 14-S (Utilities Revenue, Deutsche Bank AG LOC)		0.23	%		12/01/2028		315,000		315,000
St. Paul MN Port Authority District Heating Series 7-Q (Utilities Revenue, Deutsche Bank AG LOC)		0.23	%		12/01/2028		625,000		625,000
St. Paul MN Port Authority District Series 11Dd (Utilities Revenue, Deutsche Bank AG LOC)		0.23	%		03/01/2029		1,000,000		1,000,000
St. Paul MN Port Authority District Series 9BB (Utilities Revenue, Deutsche Bank AG LOC)		0.23	%		03/01/2029		1,100,000		1,100,000
St. Paul MN Port Authority MFHR (Housing Revenue, FHLMC Insured)		0.26	%		02/01/2034		5,680,000		5,680,000
St. Paul MN Port Authority Tax Increment Westgate Office & Industrial Center Project (Tax Revenue, U.S. Bank NA LOC)		0.24	%		02/01/2015		3,900,000		3,900,000
									169,023,000

Mississippi: 0.05%
Variable Rate Demand Note§: 0.05%
Jackson County MS PCR Chevron USA Incorporated Project (Energy Revenue)		0.16	%		12/01/2016		1,900,000		1,900,000

Missouri: 2.64%
Other Municipal Debt: 0.26%
St. Louis County MO Special Obligation TRAN (Miscellaneous Revenue)		0.45	%		08/01/2011		11,000,000		11,002,099

Variable Rate Demand Notes§: 2.38%
Eclipse Funding Trust (Utilities Revenue, U.S. Bank NA LOC)		0.25	%		01/01/2032		12,080,000		12,080,000
Independence MO IDA The Mansions Project (Housing Revenue, FHLMC Insured)		0.26	%		08/01/2035		5,110,000		5,110,000
Jackson County MO IDA Kansas City Hospice (Health Revenue, Bank of America NA LOC)		0.25	%		01/01/2030		5,800,000		5,800,000
Kansas City MO IDA Multi Family Housing PUTTER Series DBE-712 (Housing Revenue) ††		0.26	%		06/01/2012		9,175,000		9,175,000
Kansas City MO IDA Revenue Ewing Marion Kauffman Foundation (Miscellaneous Revenue)		0.28	%		04/01/2027		250,000		250,000
Kansas City MO IDA Revenue Ewing Marion Kauffman Foundation Series A (Miscellaneous Revenue)		0.28	%		04/01/2027		1,905,000		1,905,000
Missouri HEFA Washington University Project Series B (Education Revenue)		0.20	%		02/15/2033		4,000,000		4,000,000
Missouri State Development Finance Board Association of Municipal Utilities (Utilities Revenue, U.S. Bank NA LOC)		0.28	%		06/01/2033		7,545,000		7,545,000
Missouri State HEFA Ascension Health Series C-3 (Health Revenue)		0.24	%		11/15/2039		5,000,000		5,000,000
Missouri State HEFA Ranken Technical College (Education Revenue, Northern Trust Company LOC)		0.28	%		11/15/2031		5,250,000		5,250,000
Missouri State HEFA Southwest Baptist University Project (Education Revenue, Bank of America NA LOC)		0.30	%		10/01/2033		330,000		330,000
Missouri State Highway & Transportation Commission Multi Modal Third Lien B2 (Tax Revenue, State Street Bank & Trust Company LOC)		0.23	%		05/01/2015		19,720,000		19,720,000
St. Louis County MO IDA Heatherbrook Gardens (Housing Revenue, U.S. Bank NA LOC)		0.45	%		03/01/2022		1,765,000		1,765,000
St. Louis County MO IDA Pelican Cove Project (Housing Revenue, FNMA Insured)		0.26	%		03/15/2034		18,000,000		18,000,000
St. Louis County MO IDA Whitfield School Incorporated Series B (Education Revenue, U.S. Bank NA LOC)		0.38	%		06/15/2024		985,000		985,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
St. Louis IDA Various St. Lukes Plaza Apartments (Housing Revenue, Bank of America NA LOC, FHLMC Insured)		0.26	%		08/01/2017	$	5,000,000	$	5,000,000
									101,915,000

Nebraska: 0.46%
Variable Rate Demand Note§: 0.46%
Central Plains NE Nebraska Gas Project #2 Series 2009 (Utilities Revenue)		0.26	%		08/01/2039		19,855,000		19,855,000

Nevada: 1.38%
Other Municipal Debt: 0.24%
Clark County NV Airport Series E-1 (Airport Revenue)		2.50	%		06/01/2011		10,000,000		10,015,251

Variable Rate Demand Notes§: 1.14%
Clark County NV Passenger Facility Las Vegas (Airport Revenue, Union Bank NA LOC)		0.29	%		07/01/2022		17,600,000		17,600,000
Las Vegas NV Economic Development Andre Agassi Foundation Project (Education Revenue, Bank of America NA LOC)		0.23	%		10/01/2035		1,705,000		1,705,000
Las Vegas NV Various Purpose Series C (Tax Revenue, Lloyds TSB Bank plc LOC)		0.24	%		06/01/2036		17,750,000		17,750,000
Reno NV Capital Improvement Series A (Tax Revenue, Bank of America NA LOC)		0.26	%		06/01/2032		11,855,000		11,855,000
									48,910,000

New Hampshire: 0.19%
Variable Rate Demand Note§: 0.19%
New Hampshire HEFA Tilton School (Education Revenue, Sovereign Bank LOC)		0.46	%		02/01/2036		8,000,000		8,000,000

New Jersey: 3.69%
Other Municipal Debt: 0.25%
North Brunswick NJ BAN (GO - Local)		1.25	%		08/11/2011		10,500,000		10,526,046

Variable Rate Demand Notes§: 3.44%
Austin Trust Various States Series 2008-3302 (Miscellaneous Revenue, FSA Insured)		0.32	%		09/01/2032		2,800,000		2,800,000
Camden County NJ Improvement Authority Health Care Redevelopment The Cooper Health Systems Project Series 2004-B (Hospital Revenue, TD Bank NA LOC)		0.21	%		08/01/2032		6,900,000		6,900,000
JPMorgan Chase PUTTER Divers Trust Series 3808 (Tax Revenue) ††		0.27	%		06/23/2011		10,000,000		10,000,000
JPMorgan Chase PUTTER Divers Trust Series 3811 (Tax Revenue) ††		0.27	%		06/23/2011		41,200,000		41,200,000
New Jersey Economic Development Authority Arbor Glen of Bridgewater Project Series 2004 (Health Revenue, Sovereign Bank LOC)		0.30	%		05/15/2033		10,590,000		10,590,000
New Jersey Economic Development Authority Gas Facility (Utilities Revenue, BK Tokyo-Mitsubishi UFJ LOC)		0.26	%		10/01/2022		18,300,000		18,300,000
New Jersey Economic Development Authority Lawreceville School Project (Education Revenue)		0.20	%		07/01/2031		1,000,000		1,000,000
New Jersey Higher Education Assistance Foundation Series 1A PUTTER MT-638 (Education Revenue) ††		0.32	%		12/01/2024		6,795,000		6,795,000
New Jersey State Transportation Series 146 (Miscellaneous Revenue, FSA Insured)		0.41	%		06/15/2011		1,550,000		1,550,000
New Jersey State TTFA PUTTER 2009-70 (Miscellaneous Revenue)		0.26	%		12/15/2023		43,000,000		43,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
New Jersey State TTFA PUTTER DB-297 (Miscellaneous Revenue, NATL-RE FGIC Insured)		0.25	%		12/15/2031	$	1,800,000	$	1,800,000
Newark NJ Housing Authority Port Marine Newark Redevelopment Project PUTTER Series DBE-511 (Port, Airport, & Marina Authority Revenue, NATL-RE Insured)		0.26	%		01/01/2032		3,500,000		3,500,000
									147,435,000

New Mexico: 1.71%
Other Municipal Debt: 0.16%
New Mexico State TRAN (Tax Revenue)		2.50	%		06/30/2011		7,000,000		7,024,780

Variable Rate Demand Notes§: 1.55%
New Mexico Educational Assistance Foundation Series 2 A-2 PUTTER (Education Revenue, Guaranteed Student Loans Insured) ††		0.34	%		12/01/2038		23,595,000		23,595,000
New Mexico Finance Authority State Subseries A1 (Tax Revenue, State Street Bank & Trust Company LOC)		0.22	%		06/15/2024		5,000,000		5,000,000
New Mexico Municipal Energy Acquisition Authority Gas Supply Series 2009 (Utilities Revenue)		0.26	%		11/01/2039		27,525,000		27,525,000
Rosewell MN Roswell LLC Project Series A (Housing Revenue, Sovereign Bank LOC)		0.65	%		07/01/2036		10,180,000		10,180,000
									66,300,000

New York: 3.92%
Other Municipal Debt: 0.60%
Oyster Bay NY BAN (GO - Local)		1.25	%		08/12/2011		19,000,000		19,050,280
Tarrytowns NY USD BAN (GO - Local, State Aid Withholding Insured)		1.50	%		08/12/2011		6,500,000		6,520,617
									25,570,897

Variable Rate Demand Notes§: 3.32%
JPMorgan Chase PUTTER Divers Trust Series 3899 (Water & Sewer Revenue) ††		0.27	%		05/02/2013		5,050,000		5,050,000
Monroe County NY IDA Civic Facilities Monroe Community College Project Series A (Education Revenue, JPMorgan Chase Bank LOC)		0.26	%		06/01/2036		4,000,000		4,000,000
New York City Transitional Finance Authority Building Aid Class A (Miscellaneous Revenue, FSA-CR FGIC State Aid Withholding Insured)		0.27	%		01/15/2037		14,800,000		14,800,000
New York City Subseries B (GO - Local, TD Bank NA LOC)		0.23	%		09/01/2027		2,470,000		2,470,000
New York Convention Center Development Corporation New York Hotel Unit Fee Secured Series 3095 (Tax Revenue, BHAC-CR AMBAC Insured) ††		0.26	%		11/15/2044		18,335,000		18,335,000
New York Metropolitan Transportation Authority RR 11 R-11645 (Transportation Revenue, FSA Insured) ††		0.41	%		11/15/2025		8,160,000		8,160,000
New York NY City Housing Development Corporation (Housing Revenue)		0.48	%		05/01/2046		9,085,000		9,085,000
New York NY City Housing Development Corporation Series M (Housing Revenue)		0.48	%		11/01/2013		5,000,000		5,000,000
New York NY City Transitional Finance Authority NYC Recovery Series 1 Sub 1C (Tax Revenue)		0.25	%		11/01/2022		4,170,000		4,170,000
New York NY Municipal Water & Sewer Finance Authority Fiscal Year 2009 Series 3484 (Water & Sewer Revenue) ††		0.27	%		06/15/2033		15,050,000		15,050,000
New York NY Municipal Water Finance Authority Subseries B2 (Water & Sewer Revenue, Lloyds Bank LOC)		0.21	%		06/15/2024		6,000,000		6,000,000
New York NY Sub Series A-10 (Tax Revenue, JPMorgan Chase Bank LOC)		0.21	%		08/01/2017		16,700,000		16,700,000
New York NY Subseries A-5 (Tax Revenue)		0.23	%		08/01/2015		9,300,000		9,300,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
New York State Power Authority & General Purpose (Miscellaneous Revenue)		0.32	%		03/01/2016	$	6,300,000	$	6,300,000
New York State Power Authority & General Purpose (Miscellaneous Revenue)		0.32	%		03/01/2020		1,000,000		1,000,000
Triborough Bridge & Tunnel authority Sub Series CD (Transportation Revenue, AGM Insured)		0.28	%		01/01/2019		16,890,000		16,890,000
									142,310,000

North Carolina: 1.45%
Variable Rate Demand Notes§: 1.45%
Durham County NC COP (Miscellaneous Revenue, FHLB LOC)		0.27	%		06/01/2034		23,000,000		23,000,000
North Carolina Capital Facilities Finance Agency (Miscellaneous Revenue, Branch Banking & Trust LOC)		0.23	%		03/01/2031		5,610,000		5,610,000
North Carolina Capital Facilities Finance Agency Campbell University (Education Revenue, Branch Banking & Trust LOC)		0.29	%		10/01/2034		5,920,000		5,920,000
North Carolina Education Care Community Health Care Facilities University Health Systems of Eastern Carolina Series 2008-B-1 (Health Revenue, Branch Banking & Trust LOC)		0.26	%		12/01/2036		4,665,000		4,665,000
North Carolina Educational Facilities Finance Agency Charlotte Day School (Education Revenue, Bank of America NA LOC)		0.27	%		08/01/2020		4,045,000		4,045,000
North Carolina Medical Care Commission Pooled Equipment Financing Project (Health Revenue, KBC Bank NV LOC)		0.29	%		12/01/2025		10,400,000		10,400,000
North Carolina Medical Care Commission Wayne Memorial Hospital (Hospital Revenue, Branch Banking & Trust LOC)		0.27	%		10/01/2036		4,680,000		4,680,000
Piedmont Triad NC Airport Authority Series A (Airport Revenue, Branch Banking & Trust LOC)		0.23	%		07/01/2032		3,500,000		3,500,000
									61,820,000

North Dakota: 1.02%
Other Municipal Debt: 0.94%
Mercer County ND Pollution Control Authority (Miscellaneous Revenue)		0.32	%		05/18/2011		30,000,000		30,000,000
North Dakota Rural Water Finance Corporation Public Project Construction Notes A-4 (Water & Sewer Revenue)		1.50	%		09/01/2011		10,000,000		10,026,523
									40,026,523

Variable Rate Demand Note§: 0.08%
Richland County ND Recovery Zone (Miscellaneous Revenue, CoBank ACB LOC)		0.27	%		11/01/2028		3,500,000		3,500,000

Ohio: 3.49%
Variable Rate Demand Notes§: 3.49%
Cleveland OH Airport System Series D (Airport Revenue, KBC Bank NV LOC)		0.29	%		01/01/2024		8,150,000		8,150,000
Cuyahoga County OH Housing Corporation Series A (Housing Revenue, PNC Bank NA LOC)		0.25	%		08/01/2042		6,000,000		6,000,000
Franklin County OH Presbyterian Series A (Health Revenue, PNC Bank NA LOC)		0.25	%		07/01/2036		3,450,000		3,450,000
Hamilton County OH Parking System (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		0.26	%		12/01/2026		12,400,000		12,400,000
Independence OH Economic Development Series 2001 (Miscellaneous Revenue, U.S. Bank NA LOC)		0.31	%		12/01/2016		705,000		705,000
Lancaster OH Port Authority Gas Series 2008 (Utilities Revenue)		0.26	%		05/01/2038		34,095,000		34,095,000
Ohio HFA Series C (Housing Revenue)		0.27	%		03/01/2038		16,330,000		16,330,000
Ohio State Higher Education Facilities Ohio Dominican University Project (Education Revenue, JPMorgan Chase Bank LOC)		0.27	%		12/01/2037		13,550,000		13,550,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Ohio State Water Development Authority First Energy General Corporation Series A (IDR, Barclays Bank plc LOC)		0.20	%		05/15/2019	$	15,000,000	$	15,000,000
Ohio State Water Development Authority Pollution Control First Energy Series C (Utilities Revenue, UBS AG LOC)		0.28	%		06/01/2033		11,625,000		11,625,000
Portage County OH Robinson Memorial Hospital (Hospital Revenue, JPMorgan Chase Bank LOC)		0.28	%		09/01/2033		9,600,000		9,600,000
Warren County OH Cincinnati Electricity Corporation Project (IDR, Scotia Bank LOC)		0.45	%		09/01/2015		2,810,000		2,810,308
Warren County OH Health Care Facilities Otterbein Homes Series B (Health Revenue, U.S. Bank NA LOC)		0.27	%		07/01/2023		15,530,000		15,530,000
									149,245,308

Oklahoma: 0.65%
Variable Rate Demand Notes§: 0.65%
Oklahoma State Student Loan Authority PUTTER MT-658 (Education Revenue, Guaranteed Student Loans Insured) ††		0.36	%		09/01/2037		18,505,000		18,505,000
Oklahoma State Turnpike Authority Second SR Series D (Transportation Revenue)		0.24	%		01/01/2028		9,300,000		9,300,000
									27,805,000

Oregon: 0.09%
Variable Rate Demand Note§: 0.09%
Multnomah County OR Hospital Facilities Authority Oregon Baptist Retirement (Health Revenue, U.S. Bank NA LOC)		0.24	%		11/01/2034		3,935,000		3,935,000

Other: 0.58%
Variable Rate Demand Note§: 0.58%
PFOTER Class C PPT 1001 (Housing Revenue, FHLMC Insured)		0.29	%		03/01/2040		25,000,000		25,000,000

Pennsylvania: 3.91%
Variable Rate Demand Notes§: 3.91%
Allegheny County PA Hospital Development Authority University of Pittsburgh Education Center Project Series 2007-B-2 (Hospital Revenue, Royal Bank of Canada LOC) ††		0.27	%		04/15/2039		9,500,000		9,500,000
Allegheny County PA Hospital Development Authority University of Pittsburgh Education Center Series C (Hospital Revenue, PNC Bank NA LOC)		0.24	%		05/15/2038		4,500,000		4,500,000
Allegheny County PA Hospital Development Authority University of Pittsburgh Medical Center PUTTER MT-636 (Hospital Revenue) ††		0.33	%		02/01/2031		2,360,000		2,360,000
Allegheny County PA Hospital Development Authority University Pittsburgh Medical Series B-2 (Health Revenue, Deutsche Bank NA LOC)		0.25	%		05/15/2037		13,300,000		13,300,000
Allegheny County PA IDA (Education Revenue, PNC Bank NA LOC)		0.28	%		08/01/2040		3,750,000		3,750,000
Beaver County PA IDA Electric Company Project Series A (Utilities Revenue, Bank of Nova Scotia LOC)		0.29	%		11/01/2020		10,000,000		10,000,000
Beaver County PA IDA FirstEnergy Nuclear Series B (IDR, CitiBank NA LOC)		0.24	%		12/01/2035		16,450,000		16,450,000
Beaver County PA IDA Met Edison Company Project Series A (Utilities Revenue, Bank of Nova Scotia LOC)		0.29	%		07/15/2021		10,000,000		10,000,000
Emmaus PA General Authority (GO - Local, U.S. Bank NA LOC)		0.25	%		03/01/2024		6,400,000		6,400,000
Geisinger Authority PA Health System (Health Revenue)		0.23	%		11/15/2032		12,000,000		12,000,000
Geisinger Authority PA Health System Series B (Health Revenue)		0.23	%		08/01/2022		11,200,000		11,200,000
Geisinger Authority PA Health System Series C (Health Revenue)		0.23	%		08/01/2028	$	7,260,000	$	7,260,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Montgomery County PA IDR Series 3238 (Hospital Revenue, FHA Insured) ††		0.29	%		08/01/2030		4,700,000	$	4,700,000
Pennsylvania Housing Finance 4653 (Housing Revenue) ††		0.33	%		10/01/2039		9,900,000		9,900,000
Philadelphia PA 7th Series 1998 General Ordinance PUTTER DB-247 (Utilities Revenue, AMBAC Insured)		0.26	%		10/01/2025		12,050,000		12,050,000
Philadelphia PA Authority for Industrial Development Chestnut Hill College Series B (Education Revenue, Wells Fargo Bank NA LOC) (q)		0.38	%		10/01/2036		8,265,000		8,265,000
Philadelphia PA Authority For Industrial Various Refunding Series B (Miscellaneous Revenue, JPMorgan Chase & Company LOC)		0.26	%		10/01/2030		3,900,000		3,900,000
Philadelphia PA School District GO Series F (GO - Local, Barclays Bank plc LOC, State Aid Withholding Insured)		0.19	%		09/01/2030		5,500,000		5,500,000
RBC Municipal Products Incorporated Trust Series C-13 (Hospital Revenue, Royal Bank of Canada LOC) ††		0.27	%		11/01/2011		11,000,000		11,000,000
Westmoreland County PA Excella Health Project Series B (Hospital Revenue, PNC Bank NA LOC)		0.28	%		07/01/2030		5,300,000		5,300,000
									167,335,000

Puerto Rico: 1.79%
Variable Rate Demand Notes§: 1.79%
Puerto Rico Commonwealth Highway & Transportation Authority Series A (Tax Revenue, Scotia Bank LOC)		0.22	%		07/01/2028		7,395,000		7,395,000
Puerto Rico Sales Tax Financing Corporation Series 11829 (Tax Revenue, AGM Insured) ††		0.41	%		02/01/2034		3,100,000		3,100,000
Puerto Rico Sales Tax Financing Corporation Series 3036 (Tax Revenue)		0.31	%		08/01/2057		66,100,000		66,100,000
									76,595,000

South Carolina: 1.07%
Variable Rate Demand Notes§: 1.07%
Piedmont Municipal Power Agency Series C (Utilities Revenue, TD Bank NA LOC)		0.24	%		01/01/2034		5,000,000		5,000,000
South Carolina Educational Facilities Authority For Private Nonprofit Institutions (Education Revenue, Bank of America NA LOC)		0.29	%		06/01/2025		9,325,000		9,325,000
South Carolina Jobs Economic Development Authority Columbia Jewish Community Center (Miscellaneous Revenue, Wells Fargo Bank NA LOC) (q)		0.38	%		12/01/2024		2,620,000		2,620,000
South Carolina Jobs Economic Development Authority Economic Development Revenue Heartland Hall Episcopal (Education Revenue, Wells Fargo Bank NA LOC) (q)		0.28	%		08/01/2029		8,300,000		8,300,000
South Carolina Jobs Economic Development Authority Goodwill Industrials Incorporated Project (Health Revenue, Wells Fargo Bank NA LOC) (q)		0.38	%		10/01/2032		6,000,000		6,000,000
South Carolina Jobs Economic Development Authority Greenville Baptist Project (Health Revenue, Wells Fargo Bank NA LOC) (q)		0.28	%		10/01/2019		5,800,000		5,800,000
South Carolina Jobs Economic Development Authority Institutional Business & Home Project (IDR, Branch Banking & Trust LOC)		0.29	%		11/01/2034		4,500,000		4,500,000
South Carolina Jobs Economic Development Authority State University Housing LLC Series A (Education Revenue, Bank of America NA LOC)		0.29	%		03/01/2027		4,325,000		4,325,000
									45,870,000

South Dakota: 0.62%
Variable Rate Demand Notes§: 0.62%
South Dakota HEFA Sioux Valley Hospital & Health Systems Project Series 2001-C (Hospital Revenue, U.S. Bank NA LOC)		0.26	%		11/01/2019		7,500,000		7,500,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
South Dakota Housing Development Authority (Housing Revenue, FNMA Insured)		0.26	%		02/15/2031	$	6,495,000	$	6,495,000
South Dakota State HEFA Regional Health (Hospital Revenue, U.S. Bank NA LOC)		0.28	%		09/01/2027		7,950,000		7,950,000
South Dakota State HEFA Sioux Valley Series B (Hospital Revenue, U.S. Bank NA LOC)		0.26	%		11/01/2034		4,700,000		4,700,000
									26,645,000

Tennessee: 1.39%
Other Municipal Debt: 0.08%
Sevier County TN Public Building Authority Public Projects Construction Notes Series B-3 (Miscellaneous Revenue)		1.25	%		05/01/2012		3,500,000		3,520,819

Variable Rate Demand Notes§: 1.31%
Alcoa Maryville Blount County TN Industrial Development Board Series A (Miscellaneous Revenue, Branch Banking & Trust LOC)		0.29	%		06/01/2036		850,000		850,000
Blount County TN Public Building Authority Local Government Public Import E1 Series A (GO - Local, Branch Banking & Trust LOC, County Guaranty Insured)		0.29	%		06/01/2037		6,450,000		6,450,000
Metropolitan Government Nashville & Davidson County HEFA Lipscomb University Project (Education Revenue, FHLB LOC)		0.27	%		11/01/2028		12,950,000		12,950,000
Montgomery County TN Public Building Authority Pooled Financing Loan Pool (Miscellaneous Revenue, Bank of America NA LOC)		0.31	%		11/01/2027		3,015,000		3,015,000
Sevier County TN Public Building Authority Local Government Public Improvement Series A4 (GO - Local, KBC Bank NV LOC)		0.29	%		06/01/2025		5,560,000		5,560,000
Tennessee Municipal Energy Acquisition Corporation (Utilities Revenue)		0.31	%		12/01/2016		27,190,000		27,190,000
									56,015,000

Texas: 8.44%
Other Municipal Debt: 0.04%
Texas State TAN (Tax Revenue)		2.00	%		08/31/2011		1,890,000		1,900,300

Variable Rate Demand Notes§: 8.40%
Austin TX Town Lake Park Community Events PUTTER DBE-548 (Tax Revenue, FGIC Insured)		0.26	%		11/15/2029		1,245,000		1,245,000
Bexar County TX Housing Finance Corporation Vista Meadows Fredricksburg Place Apartments Project Series 2006 (Housing Revenue, FHLMC Insured)		0.26	%		09/01/2036		6,250,000		6,250,000
Brazos County TX Health Facilities Development Corporation Franciscan Services PUTTER MT-636 (Hospital Revenue, NATL-RE Insured) ††		0.38	%		01/01/2028		30,860,000		30,860,000
Dallam County TX Industrial Development Corporation (Miscellaneous Revenue, Bank of the West LOC)		0.26	%		08/01/2035		5,000,000		5,000,000
Dallas TX Waterworks & Sewer System PUTTER (Water & Sewer Revenue)		0.31	%		10/01/2018		15,000,000		15,000,000
Del Valle TX GO Independent School District Building PUTTER Series 1946 (GO - Local, PSF-GTD Insured)		0.29	%		08/15/2014		6,150,000		6,150,000
Dickinson TX Independent School District Series SGA 94 (GO - Local, PSF-GTD Insured)		0.29	%		02/15/2028		10,600,000		10,600,000
Fort Bend TX Independent School District Series 2852 (GO - Local, PSF-GTD Insured) ††		0.26	%		02/15/2016		1,800,000		1,800,000
Galveston County TX Housing Finance Corporation Village By The Sea Apartments Project (Housing Revenue, FNMA Insured)		0.26	%		02/15/2032		5,090,000		5,090,000
Harris County TX Cultural Education Facilities Finance Corporation Hermann Health Series D1 (Hospital Revenue, JPMorgan Chase Bank LOC)		0.26	%		06/01/2029		300,000		300,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Harris County TX Health Facilities Development Corporation (Utilities Revenue, Assured Guaranty Insured)		0.27	%		05/15/2016	$	5,060,000	$	5,060,000
Houston TX Airport System Sub Lien Series B PUTTER DBE-526 (Airport Revenue, FGIC Insured)		0.26	%		07/01/2026		9,340,000		9,340,000
Houston TX Utilities Systems Authority Series 2010-B (Water & Sewer Revenue, Royal Bank of Canada LOC) ††		0.27	%		05/15/2034		20,100,000		20,100,000
Houston TX Water & Sewer System (Water & Sewer Revenue, NATL-RE Insured)		0.36	%		12/01/2023		12,495,000		12,495,000
Judson TX Independent School District (GO - Local, Assured Guaranty Insured)		0.27	%		02/01/2031		4,060,000		4,060,000
Lovejoy TX Independent School District PUTTER DB-514 (GO - Local, PSF-GTD Insured)		0.26	%		02/15/2038		3,270,000		3,270,000
Lower Neches Valley TX Industrial Development Corporation (Energy Revenue)		0.18	%		11/01/2038		6,050,000		6,050,000
Northwest TX Independent School District (Tax Revenue, PSFG Insured)		0.29	%		02/15/2015		5,555,000		5,555,000
Panhandle TX Regional Housing Finance Corporation Jason Avenue Residential Apartments (Housing Revenue, FHLMC LOC)		0.26	%		08/01/2041		7,500,000		7,500,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises C (Energy Revenue)		0.25	%		12/01/2039		10,600,000		10,600,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project A (IDR)		0.26	%		04/01/2040		10,000,000		10,000,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series A (Energy Revenue)		0.26	%		11/01/2040		49,100,000		49,100,000
Port Arthur TX Naval District Environmental Facilities RB Motiva Enterprises Project Series B (Energy Revenue)		0.25	%		12/01/2039		5,500,000		5,500,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series B (Energy Revenue)		0.26	%		12/01/2039		1,600,000		1,600,000
Port Arthur TX Naval District Series C (Miscellaneous Revenue)		0.29	%		04/01/2027		2,000,000		2,000,000
Port Corpus Christi TX Solid Waste Disposal Flint Hills Resources Project Series B (Energy Revenue)		0.32	%		07/01/2029		11,700,000		11,700,000
RBC Municipal Products Income Trust (Hospital Revenue, Royal Bank of Canada LOC) ††		0.27	%		06/01/2032		10,000,000		10,000,000
Texas Municipal Gas Acquisition & Supply Corporation Series 2848 (Utilities Revenue)		0.33	%		12/15/2026		75,000,000		75,000,000
Texas Municipal Gas Acquisition & Supply Corporation Series 2849 (Utilities Revenue)		0.33	%		12/15/2026		11,578,947		11,578,947
Texas State Department of Housing & Community Affairs Costa Ibiza Apartments (Housing Revenue, FHLMC Insured)		0.26	%		08/01/2041		13,900,000		13,900,000
Tyler TX Health Facilities Development Corporation Mother Frances Hospital Series B (Hospital Revenue, Bank of America NA LOC)		0.35	%		07/01/2020		2,800,000		2,800,000
									359,503,947

Utah: 0.69%
Variable Rate Demand Notes§: 0.69%
PFOTER Series P-Floats-PPT-1008- CL-A (Housing Revenue, FHLMC Insured)		0.29	%		01/01/2032		15,965,000		15,965,000
South Valley Sewer District ROC RR II R-11919 (Water & Sewer Revenue, BHAC Insured) ††		0.26	%		07/01/2016		4,000,000		4,000,000
West Jordan UT Multifamily Housing Broadmoor Village Apartments (Housing Revenue, FHLMC Insured)		0.26	%		12/01/2034		9,675,000		9,675,000
									29,640,000

Vermont: 0.79%
Variable Rate Demand Notes§: 0.79%
Vermont Educational & Health Buildings Financing Agency Brattleboro Memorial Hospital Project A (Hospital Revenue, TD Bank NA LOC)		0.23	%		10/01/2028		2,135,000		2,135,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Vermont Educational & Health Buildings Financing Agency Landmark College Project Series A (Education Revenue, TD Bank NA LOC)		0.23	%		07/01/2033	$	3,140,000	$	3,140,000
Vermont Educational & Health Buildings Financing Agency Northeastern Vermont Regional Hospital Series A (Health Revenue, Bank NA LOC)		0.23	%		10/01/2029		2,065,000		2,065,000
Vermont Educational & Health Buildings Financing Agency Various Norwich University Project (Education Revenue, TD Bank NA LOC)		0.23	%		09/01/2038		16,005,000		16,005,000
Vermont Educational & Health Buildings North County Hospital Project A (Health Revenue, TD Bank NA LOC)		0.23	%		10/01/2034		10,295,000		10,295,000
									33,640,000

Virginia: 1.09%
Variable Rate Demand Notes§: 1.09%
Capital Region Airport Commission VA Series B (Airport Revenue, Wells Fargo Bank NA LOC) (q)		0.28	%		06/01/2035		7,295,000		7,295,000
Fairfax County VA IDA Inova Health Care (Hospital Revenue)		0.38	%		05/15/2039		5,000,000		5,000,000
James City County VA IDA Chambrel Project (Housing Revenue, FNMA Insured)		0.26	%		11/15/2032		12,650,000		12,650,000
Norfolk VA Economic Development Authority (Health Revenue)		0.38	%		11/01/2034		5,000,000		5,000,000
University of Virginia PUTTER Series 3188Z (Education Revenue) ††		0.27	%		06/01/2016		16,745,000		16,745,000
Virginia Commonwealth University Health System Authority Series A (Hospital Revenue, Branch Banking & Trust LOC)		0.21	%		07/01/2037		110,000		110,000
									46,800,000

Washington: 1.94%
Variable Rate Demand Notes§: 1.94%
Bellevue WA ROC RR-11-R 12315 (GO - Local, AGM-CR NATL-RE Insured) ††		0.26	%		12/01/2013		7,870,000		7,870,000
Everett WA (Tax Revenue, Bank of America NA LOC)		0.27	%		12/01/2021		2,235,000		2,235,000
King City WA Public Hospital District #1 (Hospital Revenue, Assured Guaranty Insured)		0.41	%		12/01/2015		6,930,000		6,930,000
King County WA Sewer Series 3090 (Water & Sewer Revenue, FSA Insured) ††		0.26	%		01/01/2039		12,000,000		12,000,000
King County WA Housing Authority Series A (Housing Revenue, FHLMC Insured)		0.22	%		07/01/2035		5,135,000		5,135,000
Seattle WA Water & Sewer Systems Eclipse Funding Trust Series 2006-0002 (Water & Sewer Revenue, U.S. Bank NA LOC)		0.25	%		09/01/2029		9,685,000		9,685,000
Seattle WA Water System (Water & Sewer Revenue, FSA-CR MBIA Insured) ††		0.26	%		09/01/2012		12,530,000		12,530,000
Washington State Health Care Facilities Authority Swedish Health Services Series B (Health Revenue, City Bank NA LOC)		0.25	%		11/15/2046		5,000,000		5,000,000
Washington State HEFAR University of Puget Sound Series B (Education Revenue, Bank of America NA LOC)		0.30	%		10/01/2036		12,000,000		12,000,000
Washington State HEFAR University Puget Sound Project A Puttable (Education Revenue, Bank of America NA LOC)		0.30	%		10/01/2030		6,505,000		6,505,000
Washington State Housing Finance Commission (Housing Revenue, FHLMC Insured)		0.27	%		07/01/2044		3,250,000		3,250,000
									83,140,000

West Virginia: 0.86%
Variable Rate Demand Notes§: 0.86%
Monongalia County WV Building Commission Series A (Health Revenue, JPMorgan Chase Bank LOC)		0.28	%		07/01/2040		11,675,000		11,675,000
Weirton WV Municipal Hospital Building Commission Weirton Medical Center Incorporated (Hospital Revenue, PNC Bank NA LOC)		0.28	%		12/01/2031		8,985,000		8,985,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
West Virginia Economic Development Authority Appalachian Power Company Series B (Resource Recovery Revenue, Sumitomo Mitsui Bank LOC)		0.28	%		12/01/2042	$	3,000,000	$	3,000,000
West Virginia Economic Development Authority Ohio Power Company Kammer Series B (Utilities Revenue, Bank of Nova Scotia LOC)		0.24	%		07/01/2014		3,000,000		3,000,000
West Virginia State Hospital Finance Authority Cabell Hospital Series A (Hospital Revenue, Branch Banking & Trust LOC)		0.29	%		01/01/2034		10,000,000		10,000,000
									36,660,000

Wisconsin: 3.27%
Other Municipal Debt: 0.33%
Wisconsin State HEFA Series 08-A (Hospital Revenue)		0.42	%		09/01/2011		7,000,000		7,000,000
Wisconsin State HEFA Series 08-B (Hospital Revenue)		0.42	%		09/01/2011		7,000,000		7,000,000
									14,000,000

Variable Rate Demand Notes§: 2.94%
Appleton WI Recovery Zone Facilities Foremost Farms USA (Miscellaneous Revenue, CoBank ACB LOC)		0.26	%		05/01/2037		4,000,000		4,000,000
Milwaukee WI RDA University of Wisconsin Kenilworth Project (Education Revenue, U.S. Bank NA LOC)		0.26	%		09/01/2040		7,725,000		7,725,000
Wisconsin HEFA Ministry Healthcare Incorporated Project Series B (Health Revenue)		0.27	%		08/01/2022		18,730,000		18,730,000
Wisconsin HEFA Saint Norbert College Incorporated (Education Revenue, JPMorgan Chase & Company LOC)		0.29	%		02/01/2038		9,935,000		9,935,000
Wisconsin HEFA Series A (Hospital Revenue, U.S. Bank NA LOC)		0.28	%		08/01/2030		6,000,000		6,000,000
Wisconsin State HEFA Fort Healthcare Incorporated Series A (Hospital Revenue, JPMorgan Chase Bank LOC)		0.30	%		05/01/2037		6,185,000		6,185,000
Wisconsin State HEFA Hess Memorial Hospital Incorporated (Hospital Revenue, U.S. Bank NA LOC)		0.26	%		05/01/2024		11,390,000		11,390,000
Wisconsin State HEFA Lawrence University (Education Revenue, JPMorgan Chase Bank LOC)		0.26	%		02/01/2039		3,935,000		3,935,000
Wisconsin State HEFA Lutheran College Project (Education Revenue, U.S. Bank NA LOC)		0.28	%		06/01/2033		1,100,000		1,100,000
Wisconsin State HEFA Meriter Retirement Services Series B (Health Revenue, U.S. Bank NA LOC)		0.27	%		03/01/2038		6,375,000		6,375,000
Wisconsin State HEFAR Meriter Retirement Services Series A (Health Revenue, KBC Bank NV LOC)		0.27	%		03/01/2038		3,940,000		3,940,000
Wisconsin State Series 1 PUTTER 2009-36 (GO - State)		0.31	%		05/01/2020		26,755,000		26,755,000
Wisconsin State Series 1 PUTTER 2009-6 (GO - State)		0.31	%		05/01/2013		20,000,000		20,000,000
									126,070,000

Wyoming: 0.51%
Variable Rate Demand Notes§: 0.51%
Lincoln County WY PCR Exxon Project A (IDR)		0.12	%		11/01/2014		8,790,000		8,790,000
Sweetwater County WY Pacific Corporation Project Series A (Utilities Revenue, Barclays Bank plc LOC)		0.23	%		07/01/2015		275,000		275,000
Wyoming Student Loan Corporation (Education Revenue, Royal Bank of Canada LOC)		0.26	%		12/01/2043		12,900,000		12,900,000
									21,965,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NATIONAL TAX-FREE MONEY MARKET FUND


Total Investments in Securities (Cost $4,232,349,097)*	98.88	%	$	4,232,349,097
Other Assets and Liabilities, Net	1.12			47,830,315

Total Net Assets	100.00	%	$	4,280,179,412

§	These securities are subject to a demand feature which reduces the effective maturity.

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

(q)

Credit enhancement is provided by an affiliate.

±	Variable rate investments.

*	Cost for federal income tax purposes is substantially the same as for financial reporting purposes.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NEW JERSEY MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Municipal Bonds and Notes: 99.86%
Delaware: 2.74%
Variable Rate Demand Notes§: 2.74%
Delaware River & Bay Authority (Transportation Revenue, TD Bank NA LOC)		0.21	%		01/01/2030	$	3,800,000		3,800,000
Delaware State Economic Development Authority (Energy Revenue)		0.28			08/01/2029		1,550,000		1,550,000
									5,350,000

Mississippi: 0.56%
Variable Rate Demand Note§: 0.56%
Mississippi Business Finance Corporation Chevron USA Incorporated Project Series A (Energy Revenue)		0.16			12/01/2030		1,100,000		1,100,000

New Jersey: 72.16%
Variable Rate Demand Notes§: 72.16%
Austin Trust Various States Series 2008-3034X (Housing Revenue, FSA Insured) ††		0.32			05/01/2027		1,310,000		1,310,000
Austin Trust Various States Series 2008-3302 (Miscellaneous Revenue, FSA & Bank of America NA LOC)		0.32			09/01/2032		3,000,000		3,000,000
Austin Trust Various States Series 2008-3303 (Tax Revenue, BHAC-CR NATL-RE Insured) ††		0.32			07/01/2022		2,190,000		2,190,000
Burlington County NJ Bridge Lutheran Home Project Series A (Health Revenue, Commerce Bank NA LOC)		0.24			12/01/2025		965,000		965,000
Camden County NJ Import Authority Cooper Health System (Hospital Revenue, TD Bank NA LOC)		0.21			08/01/2032		9,985,000		9,985,000
Clipper Tax Exempt Series 2009-32 (Airport Revenue, State Street Bank & Trust Insured) ††		0.31			01/01/2018		900,000		900,000
Clipper Tax Exempt Series 2009-70 (Miscellaneous Revenue, State Street Bank & Trust Insured) ††		0.26			12/15/2023		5,800,000		5,800,000
Garden State Preservation Trust New Jersey Open Space & Farmland PUTTER Series 2865 (Tax Revenue, FSA Insured) ††		0.26			05/01/2024		4,185,000		4,185,000
Gloucester County NJ Industrial PCFA Exxon Mobil (Resource Recovery Revenue, Mobil Corporation Guarantee Agreement)		0.08			01/01/2022		5,000,000		5,000,000
Mercer County NJ Import Authority Atlantic Funding Project (Education Revenue, Bank of America NA LOC)		0.25			09/01/2028		3,785,000		3,785,000
New Jersey Economic Development Authority Gas Facility (Utilities Revenue, Bank of Tokyo-Mitsubishi UFJ LOC)		0.26			10/01/2022		4,200,000		4,200,000
New Jersey Economic Development Authority Lawrenceville School Project (Education Revenue)		0.20			07/01/2031		2,200,000		2,200,000
New Jersey Economic Development Authority Presbyterian Homes Assistance Project Series B (Health Revenue)		0.20			04/01/2016		1,340,000		1,340,000
New Jersey Economic Development Authority Princeton Day School Project (Education Revenue, U.S. Bank NA LOC)		0.25			08/01/2035		5,000,000		5,000,000
New Jersey Economic Development Authority The Hun School of Princeton Project (Miscellaneous Revenue, Allied Irish Bank plc LOC)		0.23			11/01/2034		5,000,000		5,000,000
New Jersey Economic Development Authority The Peddie School Project Series 1996 (Education Revenue, U.S. Bank NA Insured) ††		0.25			02/01/2026		2,250,000		2,250,000
New Jersey Economic Development Authority Various Paddock Realty LLC Project (IDR, Wells Fargo Bank NA LOC) (q)		0.45			05/01/2031		915,000		915,000
New Jersey Economic Development Authority Various Peddie School Project Series B (Education Revenue, U.S. Bank NA Insured)		0.25			02/01/2019		995,000		995,000
New Jersey Economic Development Authority Various Peddie School Project Series B (Education Revenue, U.S. Bank NA Insured)		0.25			02/01/2029		2,405,000		2,405,000
New Jersey Economic Development Authority Various Refunding Senior Mortgage Arbor Glen (Health Revenue, Sovereign Bank LOC)		0.30			05/15/2033		6,345,000		6,345,000
New Jersey Educational Facilities Authority Various Institute Defense Analyses Series D (Miscellaneous Revenue, Branch Banking & Trust LOC, AMBAC Insured)		0.26			10/01/2030		4,500,000		4,500,000

The accompanying notes are an integral part of these financial statements.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NEW JERSEY MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
New Jersey HFFA Princeton Healthcare Series B (Hospital Revenue, TD Bank NA LOC)		0.20	%		07/01/2041	$	5,000,000		5,000,000
New Jersey HFFA Series A1 (Hospital Revenue, TD Bank NA LOC)		0.24			07/01/2014		3,480,000		3,480,000
New Jersey HFFA Various Princeton Healthcare Series A (Hospital Revenue, Bank of America NA LOC)		0.26			07/01/2041		800,000		800,000
New Jersey HFFA Various Somerset Medical Center (Hospital Revenue, TD Bank NA LOC)		0.20			07/01/2024		3,460,000		3,460,000
New Jersey Higher Education Assistance Authority Student Loan Series ROC-RR-II-R-11853 (Education Revenue, Assured Guaranty Insured) ††		0.41			06/01/2016		5,900,000		5,900,000
New Jersey State Building Authority Sub Series A-3 (Lease Revenue, Bank of Nova Scotia LOC)		0.21			06/15/2023		6,010,000		6,010,000
New Jersey State Higher Education Assistance Student Loan Revenue (Education Revenue, Assured Guaranty Insured)		0.41			06/01/2016		5,000,000		5,000,000
New Jersey State Housing & Mortgage Finance SFHR Series EE (Housing Revenue, Bank of America NA Insured) ††		0.39			05/17/2017		3,640,000		3,640,000
New Jersey State TRAN Series A PUTTER (Tax Revenue, JPMorgan Chase Bank Insured) ††		0.27			06/23/2011		1,000,000		1,000,000
New Jersey State TRAN Series A PUTTER (Tax Revenue, JPMorgan Chase Bank Insured) ††		0.27			06/23/2011		3,000,000		3,000,000
New Jersey State Transportation Series 146 (Miscellaneous Revenue, FSA Insured)		0.41			06/15/2011		1,000,000		1,000,000
New Jersey State Transportation Trust Fund Authority PUTTER DB-297 (Miscellaneous Revenue, NATL-RE FGIC Insured)		0.25			12/15/2031		5,810,000		5,810,000
New Jersey State Transportation Trust Fund Capital Appreciation Transportation System Series C (Transportation Revenue, AMG Insured)		0.25			12/15/2033		6,590,000		6,590,000
New Jersey State Transportation Trust Fund Capital Appreciation Transportation System Series C Deutsche Bank Spears/Lifers (Miscellaneous Revenue, FSA Insured) ††		0.26			12/15/2034		1,850,000		1,850,000
New Jersey State Turnpike Authority Refunding Various Series B (Transportation Revenue, PNC Bank NA LOC)		0.20			01/01/2024		5,000,000		5,000,000
New Jersey State Turnpike Authority Refunding Various Series C (Transportation Revenue, Scotia Bank LOC)		0.20			01/01/2024		4,950,000		4,950,000
New Jersey State Turnpike Authority Refunding Various Series D (Transportation Revenue, Scotia Bank LOC)		0.20			01/01/2024		4,200,000		4,200,000
Newark NJ Housing Authority Port Authority Refunding Newark Redevelopment Project Deutsche Bank Spears/Lifers (Port, Airport, & Marina Authority Revenue, NATL-RE Insured) ††		0.26			01/01/2032		1,885,000		1,885,000
									140,845,000

New York: 2.14%
Variable Rate Demand Notes§: 2.14%
Austin Trust Various States Series 2008-1067 (Port, Airport, & Marina Authority Revenue, GO of Authority Insured) ††		0.39			10/01/2025		1,415,000		1,415,000
Oneida County NY IDAG Various States Elizabeth Medical Center Facility A (Health Revenue)		0.26			06/01/2026		2,750,000		2,750,000
									4,165,000

Pennsylvania: 3.22%
Variable Rate Demand Notes§: 3.22%
Allegheny County PA Hospital Development Authority UPMC Senior Living Corporation (Health Revenue, FNMA Insured)		0.27			07/15/2028		5,275,000		5,275,000
Emmaus PA General Authority Subseries D27 (Miscellaneous Revenue, US Bank NA LOC)		0.25			03/01/2024		1,000,000		1,000,000
									6,275,000

The accompanying notes are an integral part of these financial statements.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NEW JERSEY MUNICIPAL MONEY MARKET FUND


Security Name			Interest Rate			Maturity Date		Principal		Value
Puerto Rico: 14.95%
Variable Rate Demand Notes: 14.95%
Deutsche Bank Spears Lifers Trust Series DBE-627A (Tax Revenue, AMBAC Insured) ††				0.26	%		08/01/2050	$	2,490,000		2,490,000
Puerto Rico Electric Power Authority Municipal Securities Trust Receipts Sgc 19 Class A (Utilities Revenue, FSA Insured) ††				0.26			07/01/2029		3,780,000		3,780,000
Puerto Rico Electric Power Authority Municipal Securities Trust Receipts Sgc 36 Class A (Utilities Revenue, Societe Generale LOC) ††				0.26			07/01/2032		5,530,000		5,530,000
Puerto Rico Electric Power Authority Municipal Securities Trust Receipts Sgc 57 Class A (Utilities Revenue, FSA Insured) ††				0.26			07/01/2029		3,200,000		3,200,000
Puerto Rico HFA PUTTER Series 2984 (Housing Revenue, HUD Loan Insured) ††				0.26			06/01/2012		8,180,000		8,180,000
Puerto Rico Sales Tax Financing Corporation ROC-RR-II-R-11760 (Tax Revenue, Citibank NA Insured) ††				0.27			12/01/2047		6,000,000		6,000,000
											29,180,000

Texas: 1.61%
Variable Rate Demand Note§: 1.61%
Harris County TX Industrial Development Corporation Solid Waste Disposal Deer Park Refining Project Series A (Energy Revenue)				0.23			03/01/2023		3,150,000		3,150,000

Utah: 0.74%
Variable Rate Demand Note§: 0.74%
Logan City UT Scientific Technology Incorporation (IDR, Bank of the West LOC)				0.39			08/01/2031		1,450,000		1,450,000

Virginia: 1.23%
Variable Rate Demand Note§: 1.23%
Virginia Commonwealth University Health System Authority Series B (Hospital Revenue, Branch Banking & Trust LOC)				0.26			07/01/2037		2,400,000		2,400,000

Washington: 0.51%
Variable Rate Demand Note§: 0.51%
Washington State Housing Finance Commission (Housing Revenue, FHLMC Insured)				0.27			07/01/2044		1,000,000		1,000,000

Total Investments in Securities (Cost $194,915,000)*	99.86	%								$	194,915,000
Other Assets and Liabilities, Net	0.14										270,903

Total Net Assets	100.00	%								$	195,185,903

§	Variable rate demand notes are subject to demand features which reduce the effective maturity.

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

(q)

Credit enhancement is provided by an affiliate.

*	Cost for federal income tax purposes is substantially the same as for financial reporting purposes.

The accompanying notes are an integral part of these financial statements.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NEW YORK MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Municipal Bonds and Notes: 99.90%
California: 0.12%
Variable Rate Demand Note§: 0.12%
California Housing Finance Agency PUTTER Series 3484 (Water & Sewer Revenue)††		0.27	%		06/15/2033	$	450,000	$	450,000

Delaware: 1.40%
Variable Rate Demand Note§: 1.40%
Delaware State Economic Development Authority (Energy Revenue)		0.28			08/01/2029		5,400,000		5,400,000

Minnesota: 0.65%
Variable Rate Demand Note§: 0.65%
Sherburne County MN Housing & Redevelopment Authority Apperts Incorporated Project (Housing Revenue, Bremer Bank LOC)		0.50			12/01/2021		2,515,000		2,515,000

Nevada: 0.64%
Variable Rate Demand Notes§: 0.64%
Reno NV Sales Tax Revenue Various Refunding Senior Lien-Reno Transportation Rail Access Corridor Project (Tax Revenue, Bank of New York LOC)		0.26			06/01/2042		1,260,000		1,260,000
Sparks NV Economic Development RIX Industries Project (IDR, Wells Fargo Bank NA LOC)(q)		0.50			07/01/2027		1,195,000		1,195,000
									2,455,000

New York: 87.75%
Other Municipal Debt: 2.30%
Depew NY Free School District Bond Anticipation Notes Series A (GO - Local, State Aid Withholding Insured)		1.25			06/02/2011		6,000,000		6,002,629
Oyster Bay NY Bond Anticipation Notes (GO - Local)		1.25			08/12/2011		2,880,000		2,887,622
									8,890,251

Variable Rate Demand Notes§: 85.45%
Albany NY IDA (Hospital Revenue, Bank of America Corporation LOC)		0.31			05/01/2027		2,605,000		2,605,000
Albany NY IDA (Education Revenue, Bank of America Corporation LOC & NATL-RE Insured)		0.35			07/01/2037		2,000,000		2,000,000
City of New York NY (GO - Local, TD Bank NA LOC)		0.23			09/01/2027		11,200,000		11,200,000
Dutchess County NY IDA (Education Revenue, JPMorgan Chase Bank LOC)		0.27			07/01/2028		4,005,000		4,005,000
JPMorgan Chase PUTTER (Water & Sewer Revenue)††		0.27			05/02/2013		3,700,000		3,700,000
Long Island Power Authority NY Electric System Subseries 1-B (Utilities Revenue, State Street Corporation LOC)		0.23			05/01/2033		5,475,000		5,475,000
Monroe County NY IDA Civic Facilities Monroe Community College Project Series A (Housing Revenue, JPMorgan Chase Bank LOC)		0.26			06/01/2036		3,505,000		3,505,000
Nassau County NY Interim Finance Authority Series D-1 (Tax Revenue)		0.31			11/15/2017		2,185,000		2,185,000
Nassau County NY Health Care Corporation, Series B-2 (Hospital Revenue, TD Bank NA LOC)		0.22			08/01/2029		9,500,000		9,500,000
New York City NY Capital Resource Corporation Loan Enhanced Assistance Series A (Hospital Revenue, Bank of America Corporation LOC)		0.29			01/01/2026		3,720,000		3,720,000
New York City NY Capital Resource Corporation Loan Enhanced Assistance Series A (Education Revenue, Bank of America Corporation LOC)		0.29			05/01/2037		3,600,000		3,600,000
New York City NY Municipal Water Finance Various Subordinated Series (Water & Sewer Revenue)		0.20			06/15/2035		5,500,000		5,500,000
New York Convention Center Development Corporation New York Hotel Unit Fee Secured Series 3095 (Tax Revenue, BHAC-CR AMBAC Insured)††		0.26			11/15/2044		17,000,000		17,000,000
New York Environmental Facilities Waste Management Incorporated Project Series 2002-B (Solid Waste Revenue, JPMorgan Chase Bank LOC)		0.24			05/01/2019		3,700,000		3,700,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NEW YORK MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
New York Metropolitan Transportation Authority (Transportation Revenue, Bank of Nova Scotia LOC)		0.20	%		11/01/2026	$	16,000,000	$	16,000,000
New York Metropolitan Transportation Authority ROC-RR-II-R-11711 (Transportation Revenue, FSA Insured)††		0.41			11/15/2027		11,650,000		11,650,000
New York Metropolitan Transportation Authority ROC-RR-II-R-594PB (Transportation Revenue, AGC-ICC AMBAC Insured)††		0.41			11/15/2013		1,000,000		1,000,000
New York NY City Housing Development Corporation (Housing Revenue)		0.53			11/01/2040		5,000,000		5,000,000
New York NY City Housing Development Corporation 1904 Vyse Avenue Apartments Series A (Housing Revenue, FNMA Insured)		0.25			01/15/2038		4,035,000		4,035,000
New York NY City Housing Development Corporation 2007 LaFontaine Avenue Series A (Housing Revenue, Citibank NA LOC)		0.27			06/01/2037		1,000,000		1,000,000
New York NY City Housing Development Corporation 550 East 170th Street Apartments Series A (Housing Revenue, Citibank NA LOC)		0.27			05/01/2042		1,925,000		1,925,000
New York NY City Housing Development Corporation Bruckner Series A (Housing Revenue, Bank of America Corporation LOC)		0.26			11/01/2048		4,500,000		4,500,000
New York NY City Housing Development Corporation Ogden Avenue Apartments II Series A (Housing Revenue, FHLMC Insured)		0.28			03/01/2038		2,500,000		2,500,000
New York NY City Housing Development Corporation Series C-4 (Housing Revenue)		0.26			05/01/2015		6,545,000		6,545,000
New York NY City Housing Development Corporation Series J-1 (Housing Revenue)		0.48			05/01/2046		2,000,000		2,000,000
New York NY City Housing Development Corporation West End Towers Series A (Housing Revenue, FNMA Insured)		0.26			05/15/2034		5,500,000		5,500,000
New York NY City IDA New York Stock Exchange Project Series B (Miscellaneous Revenue, Bank of America Corporation LOC)		0.25			05/01/2033		4,500,000		4,500,000
New York NY City Municipal Water Finance Authority PUTTER Series 1263 (Water & Sewer Revenue, FSA Insured)		0.26			06/15/2013		7,070,000		7,070,000
New York NY City Municipal Water Finance Authority PUTTER Series 1289 (Water & Sewer Revenue)		0.26			12/15/2013		145,000		145,000
New York NY City Series F-4 (Tax Revenue, Union Bank NA LOC)		0.26			09/01/2035		3,000,000		3,000,000
New York NY City Transitional Finance Authority Subseries F-5 (Tax Revenue)		0.27			02/01/2035		2,200,000		2,200,000
New York NY City Trust Cultural Research Lincoln Center For the Arts Series B-1 (Miscellaneous Revenue, U.S. Bank NA LOC)		0.23			11/01/2038		3,750,000		3,750,000
New York NY City Trust for Cultural Resources (Education Revenue)††		0.26			01/01/2033		2,600,000		2,600,000
New York NY Series H (GO - Local, AGM Insured)		0.26			08/01/2014		6,100,000		6,100,000
New York NY Subseries A-5 (GO - Local, Bank of Nova Scotia LOC)		0.21			08/01/2031		4,205,000		4,205,000
New York NY Subseries C-4 (GO - Local, BK Tokyo-Mitsubishi UFJ LOC)		0.27			08/01/2020		7,000,000		7,000,000
New York NY Subseries C-5 (GO - Local, Bank of New York LOC)		0.23			08/01/2020		8,000,000		8,000,000
New York NY Subseries F-4 (GO - Local, Sumitomo Mitsui Bank LOC)		0.26			09/01/2035		12,000,000		12,000,000
New York NY Subseries H-7 (GO - Local, KBC Bank NV LOC)		0.21			03/01/2034		4,790,000		4,790,000
New York NY Subseries I-7 (GO - Local, Bank of America Corporation LOC)		0.27			04/01/2036		5,000,000		5,000,000
New York State Housing Finance Agency Affordable Housing 8 East 102 2nd Street (Housing Revenue, Bank of America Corporation LOC)		0.25			05/01/2044		1,900,000		1,900,000
New York State Dormitory Authority Eclipse Funding Trust 2006-0029 Solar Eclipse (Miscellaneous Revenue, U.S. Bank NA LOC)		0.25			02/15/2012		3,150,000		3,150,000
New York State Dormitory Authority North Shore LI Jewish Series B (Hospital Revenue, TD Bank NA LOC)		0.23			07/01/2039		9,000,000		9,000,000
New York State Dormitory Authority Northern Westchester Association (Hospital Revenue, TD Bank NA LOC)		0.20			11/01/2034		3,000,000		3,000,000
New York State Dormitory Authority NY Law School (Education Revenue, TD Bank NA LOC)		0.22			07/01/2038		2,500,000		2,500,000
New York State Dormitory Authority PUTTER 2009-35 (Miscellaneous Revenue, State Street Corporation LOC)		0.26			11/01/2020		5,000,000		5,000,000
New York State Dormitory Authority PUTTER 2009-45 (Education Revenue, State Street Corporation LOC)		0.26			07/01/2025		5,600,000		5,600,000
New York State Dormitory Authority Rockefeller University Series B (Education Revenue)		0.22			07/01/2039		9,500,000		9,500,000
New York State Housing Finance Agency 10 Liberty Series A (Housing Revenue, FHLMC Insured)		0.22			05/01/2035		380,000		380,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NEW YORK MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
New York State Housing Finance Agency Avalon Bowery Place Series II-A (Housing Revenue, Bank of America Corporation LOC)		0.30	%		11/01/2039	$	1,500,000	$	1,500,000
New York State Housing Finance Agency College Arms Series A (Housing Revenue, FHLMC Insured)		0.23			05/01/2048		6,995,000		6,995,000
New York State Housing Finance Agency Rip Van Winkle House Series A (Housing Revenue, FHLMC Insured)		0.28			11/01/2034		3,300,000		3,300,000
New York State Housing Finance Agency Victory Housing Series 2004-A (Housing Revenue, FHLMC Insured)		0.23			11/01/2033		2,500,000		2,500,000
New York State Housing Finance Agency West 23rd Street Series A (Housing Revenue, FNMA Insured)		0.25			05/15/2033		22,100,000		22,100,000
New York State Housing Finance Agency Weyant Green Apartments Series A (Housing Revenue, FNMA Insured)		0.23			05/15/2037		700,000		700,000
New York State Mortgage Agency ROC-RR-II-R-11706 (Housing Revenue)††		0.32			10/01/2024		3,475,000		3,475,000
New York State Power Authority (GO - State)		0.32			03/01/2016		1,000,000		1,000,000
New York State Power Authority (GO - State)		0.32			03/01/2020		1,700,000		1,700,000
New York State Thruway Authority PUTTER Series 3600-Z (Transportation Revenue, FGIC Insured)††		0.36			01/01/2016		4,600,000		4,600,000
Niagara County NY IDA Niagra University Project Series B (Education Revenue, HSBC Bank USA NA LOC & Radian Insured)		0.26			11/01/2031		5,000,000		5,000,000
Oneida County NY IDA (Hospital Revenue, HSBC Bank USA NA LOC)		0.26			06/01/2026		3,600,000		3,600,000
Puttable Floating Option Tax-Exempt Receipts PT-4564 (Housing Revenue, FHLMC Insured)		0.35			02/01/2046		9,800,000		9,800,000
Southeast NY IDA Dairy Conveyor Corporation Project (IDR, Chase Manhattan Bank LOC)		0.28			11/01/2015		800,000		800,000
Syracuse NY IDA (Education Revenue, JPMorgan Chase Bank LOC)		0.25			12/01/2037		4,865,000		4,865,000
Tompkins County NY IDA (Education Revenue)		0.25			07/01/2030		4,000,000		4,000,000
Triborough Bridge & Tunnel Authority New York Municipal Securities Trust Receipts SGC-54 Class A (Transportation Revenue, Societe Generale LOC & GO of Authority Insured)		0.26			01/01/2032		3,830,000		3,830,000
									329,505,000

Pennsylvania: 1.04%
Variable Rate Demand Note§: 1.04%
Lower Merion PA School District Capital Project Series A (GO - Local, State Street Corporation LOC & State Aid Withholding Insured)		0.24			04/01/2027		4,020,000		4,020,000

Puerto Rico: 6.98%
Variable Rate Demand Notes§: 6.98%
Puerto Rico Commonwealth ROC-II-R-185 (GO - State, FGIC Insured)††		0.24			07/01/2012		3,715,000		3,715,000
Puerto Rico Electric Power Authority Municipal Securities Trust Receipts SGC-57 Class A (Utilities Revenue, FSA Insured)		0.26			07/01/2029		6,180,000		6,180,000
Puerto Rico Electric Power Authority Municipal Securities Trust Receipts-SGC-36 Class A (Utilities Revenue, Societe Generale LOC)		0.26			07/01/2032		3,500,000		3,500,000
Puerto Rico Sales Tax Corporate Financing ROC-RR-II-R-11778 (Tax Revenue)††		0.27			08/01/2047		4,875,000		4,875,000
Puerto Rico Sales Tax Corporate Financing ROC-RR-II-R-11779 (Tax Revenue)††		0.27			12/01/2047		6,000,000		6,000,000
Puerto Rico Sales Tax Financing Corporation PUTTER Series DBE-627A (Tax Revenue, AMBAC Insured)		0.26			08/01/2050		400,000		400,000
Puttable Floating Option Tax-Exempt Receipts (Housing Revenue, FHLMC Insured)		0.29			03/01/2040		2,230,000		2,230,000
									26,900,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

NEW YORK MUNICIPAL MONEY MARKET FUND



Security Name			Interest Rate			Maturity Date		Principal		Value
Texas: 0.62%
Variable Rate Demand Note§: 0.62%
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series C (Energy Revenue)				0.25	%		04/01/2040	$	2,400,000	$	2,400,000

Virginia: 0.70%
Variable Rate Demand Note§: 0.70%
Virginia Commonwealth University Health System Authority Series B (Hospital Revenue, Branch Banking & Trust LOC)				0.26			07/01/2037		2,700,000		2,700,000

Total Investments in Securities (Cost $385,235,251)*	99.90	%									385,235,251
Other Assets and Liabilities, Net	0.10										382,289

Total Net Assets	100.00	%								$	385,617,540

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

§	These securities are subject to a demand feature which reduces the effective maturity.

(q)

Credit enhancement is provided by an affiliate.

*	Cost for federal income tax purposes is substantially the same as for financial reporting purposes.

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PENNSYLVANIA MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Municipal Bonds and Notes: 99.60%
Delaware: 0.79%
Variable Rate Demand Notes§: 0.79%
Delaware State Economic Development Authority (Energy Revenue)		0.28	%		08/01/2029	$	1,350,000	$	1,350,000

New Jersey: 2.83%
Variable Rate Demand Notes§: 2.83%
Clipper Tax Exempt Series 2009-32 (Airport Revenue, State Street Corporation LOC)		0.31	%		01/01/2018		4,850,000		4,850,000

New York: 0.87%
Variable Rate Demand Notes§: 0.87%
Long Island NY Power Authority Electric Subseries 1B (Utilities Revenue, State Street Corporation LOC)		0.23	%		05/01/2033		1,500,000		1,500,000

Pennsylvania: 90.55%
Variable Rate Demand Notes§: 90.55%
Allegheny County PA Hospital Development Authority UPMC Senior Living Corporation (Health Revenue, FNMA Insured)		0.27	%		07/15/2028		12,205,000		12,205,000
Allegheny County PA Residential Finance Authority Mortgage SFHR Series 2005-SS (Housing Revenue)		0.31	%		05/01/2036		2,640,000		2,640,000
Beaver County PA IDA Environmental Improvement Project (Utilities Revenue)		0.42	%		09/01/2032		2,000,000		2,000,000
Beaver County PA IDA Pollution Control First Energy Generation (Utilities Revenue, Bank of Nova Scotia LOC)		0.23	%		04/01/2035		1,400,000		1,400,000
Beaver County PA IDA FirstEnergy Nuclear Series B (IDR, CitiBank NA LOC)		0.24	%		12/01/2035		2,455,000		2,455,000
Berks County PA IDA Fleetwood Business Trust (IDR, Northern Trust Company LOC)		0.32	%		05/15/2025		3,815,000		3,815,000
Butler County PA IDA Mine Safety Appliances (GO - Local, Societe Generale LOC) ††		0.26	%		10/01/2034		5,080,000		5,080,000
Butler County PA IDA Mine Safety Appliances Series A (IDR, JPMorgan Chase Bank LOC)		0.37	%		05/01/2022		3,000,000		3,000,000
Butler County PA IDA Mine Safety Appliances Series B (IDR)		0.37	%		05/01/2022		1,000,000		1,000,000
Delaware County PA College Authority Eastern College Series A (Education Revenue, TD Bank NA LOC)		0.28	%		10/01/2025		3,600,000		3,600,000
Delaware County PA IDA Airport Facilities Parcel Service Project (Airport Revenue)		0.20	%		12/01/2015		5,000,000		5,000,000
Deutsche Bank Spears Lifers Trust Series DB-340 (Utilities Revenue, AMBAC Insured) ††		0.26	%		10/01/2022		8,940,000		8,940,000
Emmaus PA General Authority Series D27 (GO - Local, U.S. Bank NA LOC)		0.25	%		03/01/2024		4,600,000		4,600,000
Emmaus PA General Authority Series F24 (GO - Local, U.S. Bank NA LOC)		0.25	%		03/01/2024		2,000,000		2,000,000
Fayette County PA IDA Coastal Lumber Company Project (IDR, Branch Banking & Trust LOC)		0.47	%		09/01/2018		1,700,000		1,700,000
Franconia Township PA IDA Ashers Chocolate Project Series A (IDR, Commerce Bank NA LOC) ††		0.45	%		05/01/2017		1,130,000		1,130,000
Geisinger Authority PA Health System (Hospital Revenue)		0.23	%		08/01/2022		1,500,000		1,500,000
Geisinger Authority PA Health System (Hospital Revenue)		0.23	%		08/01/2028		3,000,000		3,000,000
JPMorgan Chase PUTTER Drivers Trust Series 3498Z (Lease Revenue, FSA State Aid Withholding Insured) ††		0.36	%		06/01/2015		1,475,000		1,475,000
Lancaster PA IDA Purple Crow Partners LLC Project (IDR, Northern Trust Company LOC)		0.32	%		09/01/2026		3,000,000		3,000,000
Lower Merion PA School District Capital Project Series A (GO - Local, State Street Bank Corporation LOC, State Aid Withholding Insured)		0.24	%		04/01/2027		3,460,000		3,460,000
Merrill Lynch PFOTER Series 385 (Hospital Revenue) ††		0.40	%		08/15/2042		2,500,000		2,500,000
Merrill Lynch PFOTER Series 566 (Hospital Revenue) ††		0.53	%		08/15/2042		12,700,000		12,700,000
Montgomery County PA Higher Education & Health Authority William Penn Charter School Series 2001 (Education Revenue, PNC Bank NA LOC)		0.28	%		09/15/2031		2,800,000		2,800,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PENNSYLVANIA MUNICIPAL MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Montgomery County PA IDA Girl Scouts Southeastern (Miscellaneous Revenue, TD Bank NA LOC)		0.24	%		02/01/2025	$	1,420,000	$	1,420,000
Montgomery County PA IDA Series 3238 (Hospital Revenue, FHA Insured) ††		0.29	%		08/01/2030		4,000,000		4,000,000
Pennsylvania EDFA Fitzpatrick Container Company Project (IDR, PNC Bank NA LOC)		0.31	%		12/01/2023		1,600,000		1,600,000
Pennsylvania EDFA Ganflec Corporation Project Series E (IDR, PNC Bank NA LOC)		0.34	%		11/01/2019		1,100,000		1,100,000
Pennsylvania EDFA Series A-2 (Miscellaneous Revenue, PNC Bank NA LOC) ††		0.31	%		05/01/2011		4,250,000		4,250,000
Pennsylvania EDFA Series B1 (IDR, PNC Bank NA LOC)		0.41	%		05/01/2015		200,000		200,000
Pennsylvania EDFA Series B2 (IDR, PNC Bank NA LOC)		0.41	%		08/01/2014		400,000		400,000
Pennsylvania EDFA Series G10 (Port, Airport, & Marina Authority Revenue, PNC Bank NA LOC) ††		0.31	%		12/01/2025		2,000,000		2,000,000
Pennsylvania EDFA Series G12 (IDR, PNC Bank NA LOC) ††		0.41	%		12/01/2013		100,000		100,000
Pennsylvania EDFA Series G6 (IDR, PNC Bank NA LOC) ††		0.41	%		12/01/2013		350,000		350,000
Pennsylvania EDFA Series H4 (IDR, PNC Bank NA LOC)		0.41	%		12/01/2012		400,000		400,000
Pennsylvania EDFA Series J1 (Education Revenue, PNC Bank NA LOC)		0.28	%		11/01/2030		1,325,000		1,325,000
Pennsylvania EDFA Series J1 (IDR, PNC Bank NA LOC)		0.41	%		05/01/2015		400,000		400,000
Pennsylvania HFA SFMR Series 74A (Housing Revenue)		0.28	%		10/01/2032		4,000,000		4,000,000
Pennsylvania State HEFAR of Independent Colleges Series E-3 (Education Revenue, JPMorgan Chase Bank LOC) ††		0.31	%		11/01/2022		1,370,000		1,370,000
Pennsylvania State HEFAR of Independent Colleges Series K (Education Revenue, PNC Bank NA LOC) ††		0.28	%		11/01/2014		1,900,000		1,900,000
Pennsylvania State Public School Building Authority ROC-RR-II-R-11396 (Lease Revenue, FSA State Aid Withholding Insured)		0.36	%		12/01/2023		7,600,000		7,600,000
Pennsylvania State University Project Series B (Education Revenue)		0.40	%		06/01/2031		4,000,000		4,000,000
Philadelphia PA Authority for Industrial Development Project (IDR, PNC Bank NA LOC)		0.37	%		12/01/2014		800,000		800,000
Philadelphia PA Authority for Industrial Various Refunding Series B (IDR, JPMorgan Chase & Company LOC)		0.26	%		10/01/2030		1,600,000		1,600,000
Philadelphia PA Hospital & Higher Education Facilities Authority Childrens Hospital Series A (Hospital Revenue)		0.25	%		02/15/2014		2,300,000		2,300,000
Philadelphia PA Hospital & Higher Education Facilities Authority Childrens Hospital Series A (Hospital Revenue)		0.25	%		07/01/2022		2,800,000		2,800,000
Philadelphia PA School District Series F (GO - Local, Barclays Bank plc LOC, State Aid Withholding Insured)		0.19	%		09/01/2030		5,500,000		5,500,000
RBC Municipal Products Incorporated Trust Series C13 (Hospital Revenue, Royal Bank of Canada LOC) ††		0.27	%		11/01/2011		2,000,000		2,000,000
RBC Municipal Products Incorporated Trust Series E-11 (Hospital Revenue) ††		0.27	%		02/01/2012		5,540,000		5,540,000
RBC Municipal Products Incorporated Trust Series E-16 (Hospital Revenue, Royal Bank of Canada LOC) ††		0.27	%		04/15/2039		5,800,000		5,800,000
Westmoreland County PA Industrial Development Project (IDR, PNC Bank NA LOC)		0.36	%		04/01/2017		1,740,000		1,740,000
									155,495,000

Puerto Rico: 3.49%
Variable Rate Demand Notes§: 3.49%
Puerto Rico Sales Tax Finance Corporation ROC-RR-II-R-11761 (Tax Revenue) ††		0.27	%		12/01/2047		6,000,000		6,000,000

Utah: 1.07%
Variable Rate Demand Notes§: 1.07%
Merrill Lynch PFOTER Series 1008 Class A (Housing Revenue, FHLMC Insured) ††		0.29	%		01/01/2032		1,840,000		1,840,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MUNICIPAL MONEY MARKET FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PENNSYLVANIA MUNICIPAL MONEY MARKET FUND


Total Investments in Securities (Cost $171,035,000)*	99.60	%	$	171,035,000
Other Assets and Liabilities, Net	0.40			691,213

Total Net Assets	100.00	%	$	171,726,213

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

§	These securities are subject to a demand feature which reduces the effective maturity.

*	Cost for federal income tax purposes is substantially the same as for financial reporting purposes.

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.

WELLS FARGO ADVANTAGE MONEY MARKET FUNDS (MUNICIPAL)

NOTES TO PORTFOLIOS OF INVESTMENTS

The Funds’ portfolios of investments as of the date on the cover of this report have not been audited. This report is provided for the general information of the Funds’ shareholders. For more information regarding the Funds and their holdings, please see the Funds’ most recent prospectus and annual report.

SIGNIFICANT ACCOUNTING POLICIES

The following significant accounting policies, which are consistently followed in the preparation of the financial statements of each Fund, are in conformity with U.S. generally accepted accounting principles which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management has considered the circumstances under which the Funds should recognize or make disclosures regarding events or transactions occurring subsequent to the balance sheet date through the date the financial statements are issued. Adjustments or additional disclosures, if any, have been included in these financial statements.

Securities valuation

As permitted under Rule 2a-7 of the 1940 Act, securities are valued at amortized cost, which approximates fair value.

The valuation techniques used by the Funds to measure fair value are consistent with the market approach, income approach and/or cost approach, where applicable, for each security type.

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 each 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). Each 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 Funds’ own assumptions in determining the fair value of investments)

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At April 30, 2011, all of the Fund’s investments in securities carried at fair value were designated as Level 2 inputs.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

100% TREASURY MONEY MARKET FUND


Security Name			Interest Rate			Maturity Date		Principal		Value
Treasury Debt: 99.99%
US Treasury Bill^				0.02	%		05/05/2011	$	700,000,000	$	699,993,352
US Treasury Bill^				0.02			06/02/2011		720,000,000		719,945,010
US Treasury Bill^				0.03			06/23/2011		730,000,000		729,925,291
US Treasury Bill^				0.03			06/16/2011		799,940,000		799,882,891
US Treasury Bill^				0.04			05/12/2011		720,000,000		719,980,874
US Treasury Bill^				0.05			07/14/2011		550,000,000		549,944,236
US Treasury Bill^				0.06			07/07/2011		660,000,000		659,913,100
US Treasury Bill^				0.06			07/21/2011		590,000,000		589,914,778
US Treasury Bill^				0.10			05/26/2011		862,895,000		862,868,021
US Treasury Bill^				0.10			06/30/2011		747,000,000		746,846,170
US Treasury Bill^				0.11			06/09/2011		866,540,000		866,462,008
US Treasury Bill^				0.11			10/13/2011		80,000,000		79,958,089
US Treasury Bill^				0.11			10/20/2011		70,000,000		69,961,763
US Treasury Bill^				0.12			05/19/2011		788,395,000		788,357,605
US Treasury Bill^				0.12			10/27/2011		70,000,000		69,958,467
US Treasury Bill^				0.13			10/06/2011		100,000,000		99,943,306
US Treasury Bill^				0.13			09/15/2011		100,000,000		99,949,000
US Treasury Bill^				0.14			09/22/2011		70,000,000		69,959,682
US Treasury Bill^				0.15			08/25/2011		70,000,000		69,965,340
US Treasury Bill^				0.15			09/08/2011		70,000,000		69,961,121
US Treasury Bill^				0.16			08/18/2011		70,000,000		69,965,350
US Treasury Bill^				0.17			08/04/2011		50,000,000		49,977,806
US Treasury Bill^				0.17			09/29/2011		70,000,000		69,950,417
US Treasury Bill^				0.17			09/01/2011		70,000,000		69,959,079
US Treasury Bill^				0.18			08/11/2011		50,000,000		49,974,750
US Treasury Bill^				0.18			07/28/2011		680,000,000		679,876,749
US Treasury Note				1.00			07/31/2011		80,000,000		80,178,658
US Treasury Note				4.88			05/31/2011		100,000,000		100,385,095

Total Treasury Debt (Cost $10,533,958,008)											10,533,958,008

Total Investments in Securities (Cost $10,533,958,008)*	99.99	%									10,533,958,008

Other Assets and Liabilities, Net	0.01										1,554,229

Total Net Assets	100.00	%								$	10,535,512,237

^	Zero coupon security. Rate represents yield to maturity.

*	Cost for federal income tax purposes is substantially the same as for financial reporting purposes.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Certificates of Deposit: 26.39%
Abbey National Treasury Services		0.12	%		05/02/2011	$	252,000,000	$	252,000,000
Banco Bilbao Vizcaya Argentaria (London)		0.15			05/02/2011		221,000,000		221,000,000
Banco Del Estado De Chile plc		0.23			05/03/2011		38,000,000		38,000,000
Banco Santander (Madrid)		0.13			05/02/2011		166,000,000		166,000,000
Banco Santander (Madrid)		0.14			05/03/2011		93,000,000		93,000,000
Bank of Nova Scotia		0.28			05/31/2011		20,000,000		20,000,000
Barclays Bank plc±		0.78			08/12/2011		105,000,000		105,000,000
Barclays Bank plc (New York)±		0.62			04/16/2012		49,000,000		49,000,000
Barclays Bank plc (New York)±		0.68			01/17/2012		50,000,000		50,000,000
Barclays Bank plc (New York)±		0.71			10/24/2011		49,000,000		49,000,000
Bayer AG		0.14			05/03/2011		121,000,000		121,000,000
BNP Paribas		0.39			07/01/2011		27,000,000		27,000,000
Credit Agricole		0.11			05/02/2011		41,000,000		41,000,000
Credit Agricole		0.14			05/03/2011		27,000,000		27,000,000
Credit Agricole		0.14			05/03/2011		96,000,000		96,000,000
Credit Agricole		0.32			06/16/2011		39,000,000		39,000,000
Credit Agricole		0.37			07/11/2011		39,000,000		39,000,000
Credit Agricole		0.38			06/01/2011		47,000,000		47,000,000
Credit Agricole		0.38			07/06/2011		44,000,000		44,000,000
Credit Agricole		0.51			06/06/2011		17,000,000		17,002,799
Credit Industriel et Commercial		0.41			05/16/2011		37,000,000		37,002,515
Danske Corporation		0.15			05/03/2011		105,000,000		105,000,000
DNB Nor Bank ASA		0.10			05/02/2011		263,000,000		263,000,000
Groupe BPCE		0.13			05/02/2011		176,000,000		176,000,000
HSBC Bank plc		0.11			05/02/2011		45,000,000		45,000,000
Intesa Sanpaolo SpA (London)		0.13			05/03/2011		40,000,000		40,000,000
KBC Bank NV Brussels		0.09			05/02/2011		350,000,000		350,000,000
Lloyds TSB Bank plc (London)		0.12			05/02/2011		5,000,000		5,000,000
National Bank of Canada±		0.41			10/07/2011		133,000,000		133,000,000
National Bank of Canada±		0.41			09/21/2011		82,000,000		82,000,000
Natixis Corporation		0.11			05/02/2011		50,000,000		50,000,000
Natixis Corporation		0.40			05/23/2011		20,000,000		20,000,233
Natixis Corporation		0.41			05/09/2011		14,000,000		14,000,027
Natixis Corporation±		0.54			07/07/2011		132,000,000		132,000,000
Norinchukin Bank		0.18			05/03/2011		18,000,000		18,000,000
Norinchukin Bank		0.18			05/06/2011		79,000,000		79,000,000
Rabobank Nederland NV		0.29			10/21/2011		60,000,000		60,000,000
Rabobank Nederland NV		0.31			04/24/2012		60,000,000		59,997,013
Rabobank Nederland NV±		0.31			01/10/2012		45,000,000		45,000,000
Rabobank Nederland NV±		0.32			12/06/2011		70,000,000		70,000,000
Royal Bank of Scotland plc±		0.44			10/31/2011		50,000,000		50,000,000
Royal Bank of Scotland plc±		0.53			09/13/2011		105,000,000		105,000,000
Skandinav Enskilda Banken		0.29			06/28/2011		75,000,000		75,000,000
Skandinav Enskilda Banken		0.34			05/16/2011		38,000,000		37,999,926
Skandinav Enskilda Banken		0.34			05/06/2011		20,000,000		20,000,000
Skandinav Enskilda Banken		0.35			05/23/2011		50,000,000		50,000,000
Societe Generale (New York)		0.12			05/02/2011		82,000,000		82,000,000
Societe Generale (New York)±		0.34			01/27/2012		40,000,000		40,000,000
Societe Generale (New York)		0.56			08/12/2011		112,000,000		112,000,000
Societe Generale (New York)±		1.71			05/05/2011		61,000,000		61,000,000
Sumitomo Mitsui Banking Corporation		0.16			05/06/2011		75,000,000		75,000,000
Sumitomo Mitsui Banking Corporation		0.17			05/05/2011		130,000,000		130,000,000
Sumitomo Mitsui Banking Corporation		0.17			05/05/2011		102,000,000		102,000,000
Sumitomo Mitsui Banking Corporation		0.18			05/03/2011		120,000,000		120,000,000
Sumitomo Mitsui Banking Corporation		0.19			05/02/2011		128,000,000		128,000,000
Sumitomo Mitsui Banking Corporation		0.19			05/02/2011		69,000,000		69,000,000
Svenska Handsbanken AB		0.10			05/02/2011		85,000,000		85,000,000
Svenska Handsbanken AB		0.28			06/15/2011		88,000,000		88,000,000
Svenska Handsbanken AB		0.28			06/06/2011		41,000,000		41,000,199
Toronto-Dominion Bank±		0.31			01/12/2012		30,000,000		30,000,000

Total Certificates of Deposit (Cost $4,826,002,712)									4,826,002,712


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Commercial Paper: 45.50%

Asset-Backed Commercial Paper: 27.08%
Alpine Securitzation††^		0.15	%		05/19/2011	$	49,000,000	$	48,996,066
Alpine Securitzation††^		0.15			05/20/2011		54,000,000		53,995,410
Alpine Securitzation††^		0.16			05/25/2011		6,000,000		5,999,348
Alpine Securitzation††^		0.16			05/26/2011		6,000,000		5,999,320
Amsterdam Funding Corporation††^		0.31			07/06/2011		55,000,000		54,968,222
Antalis US Funding Corporation††^		0.08			05/03/2011		35,000,000		34,999,776
Arabella Finance LLC††^		0.33			05/05/2011		7,000,000		6,999,679
Arabella Finance LLC††^		0.43			05/11/2011		11,000,000		10,998,570
Arabella Finance LLC††^		0.48			05/23/2011		5,000,000		4,998,483
Arabella Finance LLC††^		0.49			05/31/2011		10,000,000		9,995,811
Arabella Finance LLC††^		0.49			05/27/2011		92,000,000		91,966,139
Argento Funding Companies Limited††^		0.11			05/03/2011		85,000,000		84,999,221
Argento Funding Companies Limited††^		0.16			05/04/2011		12,000,000		11,999,787
Argento Funding Companies Limited††^		0.24			07/27/2011		41,000,000		40,975,514
Argento Funding Companies Limited††^		0.26			07/19/2011		15,000,000		14,991,225
Argento Funding Companies Limited††^		0.30			06/02/2011		18,000,000		17,995,040
Argento Funding Companies Limited††^		0.30			06/03/2011		20,000,000		19,994,311
Argento Funding Companies Limited††^		0.31			05/13/2011		55,000,000		54,993,782
Argento Funding Companies Limited††^		0.32			08/08/2011		15,000,000		14,986,525
Argento Funding Companies Limited††^		0.34			06/06/2011		22,000,000		21,992,300
Aspen Funding Corporation††^		0.26			07/06/2011		10,000,000		9,995,125
Aspen Funding Corporation††^		0.26			07/07/2011		9,000,000		8,995,545
Aspen Funding Corporation††^		0.29			05/27/2011		10,000,000		9,997,847
Aspen Funding Corporation††^		0.29			06/16/2011		20,000,000		19,992,500
Atlantic Asset Securitization Corporation††^		0.09			05/03/2011		33,000,000		32,999,753
Atlantic Asset Securitization Corporation††^		0.14			05/04/2011		35,000,000		34,999,475
Atlantic Asset Securitization Corporation††^		0.24			06/02/2011		11,000,000		10,997,632
Atlantic Asset Securitization Corporation††^		0.26			07/05/2011		21,000,000		20,989,920
Atlantic Asset Securitization Corporation††^		0.26			07/07/2011		11,000,000		10,994,555
Atlantic Asset Securitization Corporation††^		0.26			07/11/2011		13,000,000		12,993,175
Atlantic Asset Securitization Corporation††^		0.27			05/23/2011		33,000,000		32,994,412
Atlantis One Funding Corporation††^		0.23			05/12/2011		68,000,000		67,994,711
Autobahn Funding Company LLC††^		0.19			05/13/2011		17,000,000		16,998,805
Autobahn Funding Company LLC††^		0.21			05/18/2011		5,000,000		4,999,467
Autobahn Funding Company LLC††^		0.27			06/15/2011		35,000,000		34,988,022
Barton Capital Corporation††^		0.23			05/09/2011		10,000,000		9,999,436
Belmont Funding LLC††		0.00			05/02/2011		10,000,000		10,000,000
CAFCO LLC††^		0.27			05/19/2011		27,000,000		26,996,175
CAFCO LLC††^		0.27			05/23/2011		24,000,000		23,995,800
Cancara Asset Securitisation LLC††^		0.19			05/11/2011		35,000,000		34,997,988
Cancara Asset Securitisation LLC††^		0.19			05/12/2011		25,000,000		24,998,403
Cancara Asset Securitisation LLC††^		0.24			05/09/2011		21,000,000		20,998,734
Cancara Asset Securitisation LLC††^		0.24			07/18/2011		34,000,000		33,981,819
Cancara Asset Securitisation LLC††^		0.24			07/20/2011		17,000,000		16,990,674
Cancara Asset Securitisation LLC††^		0.24			07/21/2011		25,000,000		24,986,111
Cancara Asset Securitisation LLC††^		0.27			05/16/2011		14,000,000		13,998,312
Cancara Asset Securitisation LLC††^		0.27			05/17/2011		50,000,000		49,993,542
Cancara Asset Securitisation LLC††^		0.34			06/28/2011		35,000,000		34,980,604
Cancara Asset Securitisation LLC††^		0.34			06/29/2011		6,000,000		5,996,617
Chariot Funding LLC††^		0.15			05/16/2011		35,000,000		34,997,686
Charta LLC††^		0.14			05/11/2011		24,000,000		23,998,980
Charta LLC††^		0.27			05/19/2011		33,000,000		32,995,325
Ciesco LLC††^		0.27			05/19/2011		13,000,000		12,998,158
Concord Minutemen Capital Company††^		0.20			05/04/2011		34,000,000		33,999,244
Concord Minutemen Capital Company††^		0.27			05/06/2011		18,000,000		17,999,200
Concord Minutemen Capital Company††^		0.32			05/10/2011		39,000,000		38,996,533
Concord Minutemen Capital Company††^		0.33			05/11/2011		9,000,000		8,999,100
Concord Minutemen Capital Company††^		0.35			05/17/2011		13,000,000		12,997,833
Concord Minutemen Capital Company††^		0.36			05/19/2011		20,000,000		19,996,222
Concord Minutemen Capital Company††^		0.37			05/26/2011		27,000,000		26,992,800
CRC Funding LLC††^		0.27			06/13/2011		28,000,000		27,990,853


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Asset-Backed Commercial Paper (continued)
Crown Point Capital Company††		0.00	%		05/02/2011	$	22,000,000	$	22,000,000
Crown Point Capital Company††^		0.13			05/03/2011		12,000,000		11,999,867
Crown Point Capital Company††^		0.24			05/05/2011		13,000,000		12,999,567
Crown Point Capital Company††^		0.31			05/09/2011		15,000,000		14,998,833
Crown Point Capital Company††^		0.33			05/11/2011		28,000,000		27,997,200
Crown Point Capital Company††^		0.34			05/13/2011		41,000,000		40,994,989
Crown Point Capital Company††^		0.35			05/16/2011		20,000,000		19,996,889
Crown Point Capital Company††^		0.36			05/18/2011		20,000,000		19,996,444
Crown Point Capital Company††^		0.36			05/19/2011		12,000,000		11,997,733
Crown Point Capital Company††^		0.37			05/23/2011		28,000,000		27,993,467
Crown Point Capital Company††^		0.38			06/03/2011		13,000,000		12,995,378
Ebbets Funding LLC††		0.00			05/02/2011		12,000,000		12,000,000
Ebbets Funding LLC††^		0.17			05/03/2011		15,000,000		14,999,792
Gemini Securitization Corporation LLC††^		0.10			05/03/2011		28,000,000		27,999,767
Gemini Securitization Corporation LLC††^		0.15			05/04/2011		20,000,000		19,999,667
Gemini Securitization Corporation LLC††^		0.17			05/11/2011		25,000,000		24,998,688
Gemini Securitization Corporation LLC††^		0.24			07/12/2011		9,000,000		8,995,563
Gemini Securitization Corporation LLC††^		0.24			07/21/2011		40,000,000		39,977,778
Gemini Securitization Corporation LLC††^		0.24			07/25/2011		2,000,000		1,998,833
Gemini Securitization Corporation LLC††^		0.25			07/08/2011		75,163,000		75,126,629
Gemini Securitization Corporation LLC††^		0.28			06/01/2011		5,500,000		5,498,625
Gemini Securitization Corporation LLC††^		0.28			06/02/2011		15,000,000		14,996,125
Govco LLC††^		0.16			05/24/2011		2,000,000		1,999,792
Govco LLC††^		0.23			07/12/2011		18,000,000		17,991,480
Govco LLC††^		0.23			07/15/2011		7,000,000		6,996,547
Govco LLC††^		0.23			07/22/2011		11,000,000		10,994,060
Govco LLC††^		0.23			07/25/2011		15,000,000		14,991,600
Govco LLC††^		0.25			05/13/2011		6,000,000		5,999,450
Govco LLC††^		0.26			05/16/2011		12,000,000		11,998,600
Govco LLC††^		0.28			05/31/2011		25,000,000		24,993,958
Grampian Funding LLC††^		0.11			05/03/2011		80,000,000		79,999,289
Grampian Funding LLC††^		0.16			05/04/2011		43,000,000		42,999,236
Grampian Funding LLC††^		0.26			05/10/2011		16,000,000		15,998,862
Grampian Funding LLC††^		0.27			07/12/2011		59,000,000		58,967,418
Grampian Funding LLC††^		0.27			07/13/2011		20,000,000		19,988,800
Grampian Funding LLC††^		0.29			06/08/2011		8,000,000		7,997,451
Grampian Funding LLC††^		0.30			06/14/2011		63,000,000		62,976,673
Grampian Funding LLC††^		0.30			06/02/2011		15,000,000		14,995,867
Grampian Funding LLC††^		0.30			06/03/2011		25,000,000		24,992,889
Grampian Funding LLC††^		0.30			08/10/2011		5,000,000		4,995,694
Jupiter Securitization Corporation LLC††^		0.15			05/16/2011		35,000,000		34,997,686
Kells Funding LLC††^		0.21			07/21/2011		31,000,000		30,984,844
Kells Funding LLC††^		0.26			05/09/2011		15,000,000		14,999,038
Kells Funding LLC††±		0.35			11/29/2011		108,000,000		108,000,000
Kells Funding LLC		0.36			12/16/2011		85,000,000		85,000,000
Legacy Capital Company††^		0.13			05/03/2011		30,000,000		29,999,667
Legacy Capital Company††^		0.24			05/05/2011		13,000,000		12,999,567
Legacy Capital Company††^		0.31			05/09/2011		12,000,000		11,999,067
Legacy Capital Company††^		0.33			05/12/2011		26,000,000		25,997,111
Lexington Parker Capital††		0.00			05/02/2011		10,000,000		10,000,000
Lexington Parker Capital††^		0.24			05/05/2011		6,000,000		5,999,800
Lexington Parker Capital††^		0.31			05/09/2011		13,000,000		12,998,989
Lexington Parker Capital††^		0.33			05/12/2011		18,000,000		17,998,000
Lexington Parker Capital††^		0.36			05/18/2011		26,000,000		25,995,378
Lexington Parker Capital††^		0.37			05/24/2011		25,000,000		24,993,889
Lexington Parker Capital††^		0.37			05/25/2011		51,000,000		50,986,966
LMA Americas LLC††^		0.15			05/06/2011		9,000,000		8,999,770
LMA Americas LLC††^		0.19			05/13/2011		5,000,000		4,999,649
LMA Americas LLC††^		0.20			05/20/2011		9,600,000		9,598,944
LMA Americas LLC††^		0.20			05/27/2011		35,954,000		35,948,319
LMA Americas LLC††^		0.23			06/20/2011		50,000,000		49,983,667
LMA Americas LLC††^		0.24			07/20/2011		14,000,000		13,992,319
LMA Americas LLC††^		0.24			07/22/2011		52,000,000		51,970,750


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Asset-Backed Commercial Paper (continued)
LMA Americas LLC††^		0.24	%		07/27/2011	$	5,000,000	$	4,997,014
LMA Americas LLC††^		0.24			07/28/2011		11,000,000		10,993,354
LMA Americas LLC††^		0.26			06/23/2011		9,000,000		8,996,490
LMA Americas LLC††^		0.26			07/13/2011		17,000,000		16,990,820
LMA Americas LLC††^		0.27			07/15/2011		30,000,000		29,982,734
LMA Americas LLC††^		0.29			06/14/2011		30,000,000		29,989,250
Matchpoint Master Trust††^		0.18			05/27/2011		127,000,000		126,983,243
Matchpoint Master Trust††^		0.18			05/19/2011		11,000,000		10,998,961
MetLife Short Term Funding LLC††^		0.24			07/13/2011		47,000,000		46,976,500
MetLife Short Term Funding LLC††^		0.26			05/10/2011		30,000,000		29,997,867
Mont Blanc Capital Corporation††^		0.23			07/06/2011		8,000,000		7,996,533
Mont Blanc Capital Corporation††^		0.23			07/12/2011		10,000,000		9,995,267
Mont Blanc Capital Corporation††^		0.25			05/13/2011		13,000,000		12,998,808
Mont Blanc Capital Corporation††^		0.29			06/09/2011		9,000,000		8,997,150
Mont Blanc Capital Corporation††^		0.29			06/14/2011		12,000,000		11,995,700
Newport Funding Corporation††^		0.25			07/11/2011		24,000,000		23,987,867
Newport Funding Corporation††^		0.26			07/06/2011		10,000,000		9,995,125
Newport Funding Corporation††^		0.29			06/21/2011		15,042,000		15,035,733
Nieuw Amsterdam Receivables Corporation††^		0.10			05/03/2011		29,000,000		28,999,759
Nieuw Amsterdam Receivables Corporation††^		0.23			05/09/2011		3,000,000		2,999,825
Nieuw Amsterdam Receivables Corporation††^		0.25			08/01/2011		35,000,000		34,977,882
Nieuw Amsterdam Receivables Corporation††^		0.25			07/12/2011		18,000,000		17,990,948
Nieuw Amsterdam Receivables Corporation††^		0.26			07/07/2011		4,000,000		3,998,020
Nieuw Amsterdam Receivables Corporation††^		0.28			06/06/2011		10,000,000		9,997,083
Northern Pines Funding LLC††^		0.29			07/11/2011		16,000,000		15,990,667
Northern Pines Funding LLC††^		0.29			07/15/2011		40,000,000		39,975,333
Northern Pines Funding LLC††^		0.29			08/08/2011		3,000,000		2,997,550
Northern Pines Funding LLC††^		0.31			08/23/2011		15,000,000		14,985,404
Regency Markets #1 LLC††^		0.11			05/06/2011		25,000,000		24,999,556
Regency Markets #1 LLC††^		0.17			05/12/2011		45,000,000		44,997,500
Regency Markets #1 LLC††^		0.18			05/25/2011		118,881,000		118,865,810
Rhein-Main Security Limited††^		0.46			05/16/2011		28,000,000		27,994,337
Rhein-Main Security Limited††^		0.47			07/11/2011		16,000,000		15,985,067
Rheingold Securitization††^		0.46			05/16/2011		20,000,000		19,995,956
Rheingold Securitization††^		0.47			07/11/2011		13,000,000		12,987,867
Rheingold Securitization††^		0.47			07/15/2011		19,000,000		18,981,253
Romulus Funding Corporation††^		0.30			05/25/2011		35,000,000		34,992,621
Romulus Funding Corporation††^		0.31			05/27/2011		54,000,000		53,987,625
Scaldis Capital LLC††^		0.13			05/04/2011		28,000,000		27,999,611
Scaldis Capital LLC††^		0.15			05/05/2011		31,000,000		30,999,355
Scaldis Capital LLC††^		0.19			05/09/2011		15,000,000		14,999,300
Scaldis Capital LLC††^		0.19			05/20/2011		33,000,000		32,996,535
Scaldis Capital LLC††^		0.19			05/10/2011		39,000,000		38,997,920
Scaldis Capital LLC††^		0.19			05/24/2011		29,000,000		28,996,278
Scaldis Capital LLC††^		0.19			05/13/2011		36,000,000		35,997,470
Solitaire Funding LLC††^		0.23			05/09/2011		7,000,000		6,999,592
Solitaire Funding LLC††^		0.24			07/19/2011		8,000,000		7,995,667
Solitaire Funding LLC††^		0.24			07/21/2011		50,000,000		49,972,222
Solitaire Funding LLC††^		0.24			07/27/2011		38,000,000		37,977,306
Solitaire Funding LLC††^		0.25			07/14/2011		9,000,000		8,995,255
Solitaire Funding LLC††^		0.26			05/16/2011		3,000,000		2,999,650
Solitaire Funding LLC††^		0.27			05/17/2011		28,000,000		27,996,383
Solitaire Funding LLC††^		0.28			06/01/2011		10,000,000		9,997,500
Solitaire Funding LLC††^		0.29			06/10/2011		78,000,000		77,974,650
Solitaire Funding LLC††^		0.29			06/13/2011		57,000,000		56,980,050
Starbird Funding Corporation††^		0.16			05/09/2011		7,000,000		6,999,714
Starbird Funding Corporation††^		0.23			07/21/2011		4,000,000		3,997,867
Starbird Funding Corporation††^		0.28			06/13/2011		24,000,000		23,991,880
Starbird Funding Corporation††^		0.28			05/27/2011		17,000,000		16,996,458
Straight-A Funding LLC††^		0.20			05/10/2011		25,000,000		24,998,611
Surrey Funding Corporation††^		0.24			07/07/2011		7,000,000		6,996,792
Sydney Capital Corporation††^		0.34			07/14/2011		8,000,000		7,994,322
Sydney Capital Corporation††^		0.34			07/18/2011		10,000,000		9,992,514


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Asset-Backed Commercial Paper (continued)
Sydney Capital Corporation††^		0.37	%		06/10/2011	$	8,000,000	$	7,996,620
Sydney Capital Corporation††^		0.38			06/08/2011		4,000,000		3,998,356
Tasman Funding Incorporated††^		0.17			05/04/2011		4,000,000		3,999,927
Tasman Funding Incorporated††^		0.27			06/23/2011		13,000,000		12,994,742
Tasman Funding Incorporated††^		0.28			05/12/2011		23,581,000		23,578,838
Tasman Funding Incorporated††^		0.29			05/16/2011		3,000,000		2,999,615
Tasman Funding Incorporated††^		0.29			05/17/2011		19,169,000		19,166,364
Tasman Funding Incorporated††^		0.29			05/18/2011		9,008,000		9,006,679
Tasman Funding Incorporated††^		0.31			06/14/2011		47,000,000		46,981,964
Tasman Funding Incorporated††^		0.31			05/24/2011		6,000,000		5,998,753
Thames Asset Global Securitization††^		0.11			05/06/2011		30,000,000		29,999,433
Thames Asset Global Securitization††^		0.26			07/08/2011		7,000,000		6,996,483
Thames Asset Global Securitization††^		0.47			06/07/2011		16,000,000		15,992,000
Versailles Commercial Paper LLC††^		0.36			07/05/2011		15,000,000		14,990,133
Versailles Commercial Paper LLC††^		0.36			07/08/2011		18,000,000		17,987,605
Windmill Funding Corporation††^		0.27			05/24/2011		15,000,000		14,997,342

									4,952,670,777

Financial Company Commerical Paper: 15.77%
ABN AMRO Funding USA LLC††^		0.23			06/28/2011		25,000,000		24,990,500
Alaska Housing Finance Corporation^		0.28			05/17/2011		3,000,000		2,999,600
ANZ National Limited††±		0.40			09/13/2011		71,000,000		71,000,000
ASB Finance Limited††±		0.40			12/05/2011		53,000,000		53,000,000
ASB Finance Limited††±		0.40			12/02/2011		52,000,000		52,000,000
ASB Finance Limited††±		0.41			09/02/2011		70,000,000		70,000,000
Axis Bank Limited^		0.41			07/25/2011		6,000,000		5,994,120
Banco Bilbao Vizcaya Argentaria (London)††^		0.23			05/09/2011		27,300,000		27,298,408
BGL BNP Paribas SA^		0.34			06/16/2011		84,000,000		83,963,250
BGL BNP Paribas SA^		0.39			07/07/2011		53,000,000		52,961,133
BNP Paribas Finance Incorporated^		0.33			06/03/2011		30,000,000		29,990,667
BNP Paribas Finance Incorporated^		0.33			06/09/2011		45,000,000		44,983,375
BNP Paribas Finance Incorporated^		0.38			07/08/2011		45,000,000		44,967,338
BNP Paribas Finance Incorporated^		0.38			07/18/2011		84,000,000		83,929,930
BNZ International Funding Limited††±		0.38			10/12/2011		23,000,000		23,000,516
BNZ International Funding Limited±		0.39			10/07/2011		6,000,000		5,999,992
BNZ International Funding Limited††±		0.40			01/06/2012		10,000,000		10,000,000
BNZ International Funding Limited††±		0.41			09/01/2011		49,000,000		49,000,676
BPCE SA††^		0.20			05/04/2011		26,000,000		25,999,422
BPCE SA††^		0.37			06/08/2011		80,000,000		79,967,933
BPCE SA††^		0.38			06/16/2011		30,000,000		29,985,000
Danske Corporation††^		0.27			06/01/2011		40,000,000		39,990,333
Danske Corporation††^		0.31			06/08/2011		72,000,000		71,975,580
Danske Corporation††^		0.35			05/31/2011		26,000,000		25,992,251
Erste Finance LLC††^		0.09			05/04/2011		184,000,000		183,998,262
Fortis Funding LLC††^		0.34			06/15/2011		84,000,000		83,964,067
ICICI Bank Limited^		0.64			09/16/2011		55,000,000		54,863,951
ING US Funding LLC^		0.31			06/29/2011		30,000,000		29,984,533
Macquarie Bank Limited††^		0.35			06/15/2011		25,000,000		24,988,694
Macquarie Bank Limited††^		0.36			06/13/2011		20,000,000		19,991,133
Macquarie Bank Limited††^		0.40			06/29/2011		10,000,000		9,993,394
Macquarie Bank Limited††^		0.40			07/05/2011		20,000,000		19,985,422
Macquarie Bank Limited††^		0.40			07/06/2011		33,000,000		32,975,571
Macquarie Bank Limited††^		0.40			07/07/2011		30,000,000		29,977,450
Macquarie Bank Limited††^		0.40			07/08/2011		30,000,000		29,977,108
Macquarie Bank Limited††^		0.40			07/11/2011		15,000,000		14,988,042
Macquarie Bank Limited††^		0.40			07/12/2011		15,000,000		14,987,871
Mizuho Funding LLC††^		0.12			05/06/2011		38,000,000		37,999,240
Natexis Banques Populaires^		0.34			07/01/2011		44,000,000		43,974,333
Natexis Banques Populaires^		0.37			06/10/2011		78,000,000		77,967,045
National Rural Utilities Cooperative Finance Corporation^		0.21			05/10/2011		22,000,000		21,998,729
Nationwide Building Society††^		0.19			05/19/2011		10,000,000		9,999,008
Nationwide Building Society††^		0.28			05/11/2011		43,000,000		42,996,345


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Financial Company Commercial Paper (continued)
Nationwide Building Society††^		0.30	%		05/16/2011	$	30,000,000	$	29,996,033
Nationwide Building Society††^		0.36			07/05/2011		20,000,000		19,986,844
Nationwide Building Society††^		0.36			07/06/2011		15,000,000		14,989,979
Nationwide Building Society††^		0.36			07/07/2011		15,000,000		14,989,825
PB Financing Incorporated††^		0.47			05/11/2011		11,000,000		10,998,433
PB Financing Incorporated††^		0.49			07/20/2011		4,000,000		3,995,611
PB Financing Incorporated††^		0.49			07/26/2011		6,000,000		5,992,917
PB Financing Incorporated††^		0.49			07/29/2011		21,000,000		20,974,333
PB Financing Incorporated††^		0.49			06/24/2011		5,000,000		4,996,246
PB Financing Incorporated††^		0.49			06/27/2011		12,000,000		11,990,480
PB Financing Incorporated††^		0.51			07/07/2011		5,000,000		4,995,233
PB Financing Incorporated††^		0.51			07/11/2011		10,000,000		9,989,889
PB Financing Incorporated††^		0.51			05/19/2011		14,000,000		13,996,232
PB Financing Incorporated††^		0.52			05/23/2011		24,000,000		23,992,020
PB Financing Incorporated††^		0.53			05/26/2011		25,000,000		24,990,500
PB Financing Incorporated††^		0.53			05/31/2011		20,000,000		19,990,817
PB Financing Incorporated††^		0.54			06/03/2011		20,000,000		19,989,867
PB Financing Incorporated††^		0.54			06/07/2011		15,000,000		14,991,450
PB Financing Incorporated††^		0.54			06/09/2011		8,000,000		7,995,187
PB Financing Incorporated††^		0.54			06/10/2011		15,000,000		14,990,738
PB Financing Incorporated††^		0.55			06/15/2011		29,000,000		28,979,797
Prudential plc††^		0.32			06/02/2011		18,000,000		17,994,730
Prudential plc††^		0.32			06/08/2011		6,000,000		5,997,903
Prudential plc††^		0.33			06/14/2011		19,000,000		18,992,284
Prudential plc††^		0.34			07/05/2011		18,000,000		17,988,800
Prudential plc††^		0.34			07/06/2011		15,000,000		14,990,521
Prudential plc††^		0.36			07/13/2011		10,000,000		9,992,600
Prudential plc††^		0.37			07/18/2011		10,000,000		9,991,872
Prudential plc††^		0.37			07/21/2011		45,000,000		44,962,000
RBS Holdings USA Incorporated††^		0.27			05/11/2011		27,000,000		26,997,773
RBS Holdings USA Incorporated††^		0.29			05/24/2011		47,000,000		46,990,809
Skandinaviska Enslilda Banken AB††^		0.33			06/02/2011		35,000,000		34,989,451
Skandinaviska Enskilda Banken AB††^		0.32			05/23/2011		20,000,000		19,995,917
Skandinaviska Enskilda Banken AB††^		0.29			05/13/2011		23,000,000		22,997,611
Skandinaviska Enskilda Banken AB††^		0.33			06/01/2011		15,000,000		14,995,625
Standard Chartered Bank††^		0.29			07/11/2011		20,000,000		19,988,333
Suncorp-Metway Limited††^		0.30			05/05/2011		14,000,000		13,999,417
Suncorp-Metway Limited††^		0.45			05/17/2011		27,000,000		26,994,263
Suncorp-Metway Limited††^		0.49			06/08/2011		59,000,000		58,969,074
Suncorp-Metway Limited††^		0.49			06/09/2011		28,000,000		27,984,927
Svenska Handlesbanken AB††^		0.25			05/18/2011		18,000,000		17,997,760
Swedbank AB^		0.26			07/28/2011		25,000,000		24,983,688
Swedbank AB^		0.26			07/29/2011		50,000,000		49,967,000
Swedbank AB^		0.26			08/03/2011		25,000,000		24,982,563
Swedbank AB^		0.26			08/04/2011		25,000,000		24,982,375
Swedbank AB^		0.36			05/27/2011		15,000,000		14,995,990
Swedbank AB^		0.36			05/31/2011		15,000,000		14,995,348
Westpac Securities NZ Limited††^		0.28			05/31/2011		14,000,000		13,996,617
Westpac Securities NZ Limited††±		0.37			10/13/2011		65,000,000		65,000,000
Westpac Securities NZ Limited††±		0.38			08/19/2011		57,000,000		57,000,000

									2,884,127,904

Other Commercial Paper: 2.65%
ACTS Retirement Life Communities Incorporated^		0.29			06/16/2011		10,000,000		9,996,250
Caisse d’Amortissement de la Dette Sociale††^		0.15			05/04/2011		106,000,000		105,998,233
Caisse d’Amortissement de la Dette Sociale††^		0.22			05/10/2011		12,000,000		11,999,253
Caisse d’Amortissement de la Dette Sociale††^		0.25			05/16/2011		25,000,000		24,997,278
Caisse d’Amortissement de la Dette Sociale††^		0.25			05/17/2011		55,000,000		54,993,583
Caisse d’Amortissement de la Dette Sociale††^		0.26			05/31/2011		40,000,000		39,990,978
Caisse d’Amortissement de la Dette Sociale††^		0.27			06/09/2011		29,000,000		28,991,429
EDF SA††		0.00			05/02/2011		32,000,000		32,000,000
European Investment Bank^		0.24			06/24/2011		15,000,000		14,994,479


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Other Commercial Paper (continued)
European Investment Bank^		0.25	%		06/29/2011	$	15,000,000	$	14,993,717
GDF Suez††		0.00			05/02/2011		7,000,000		7,000,000
GDF Suez††^		0.23			05/10/2011		18,000,000		17,998,840
GDF Suez††^		0.27			05/23/2011		8,000,000		7,998,600
GDF Suez††^		0.28			05/24/2011		4,000,000		3,999,267
GDF Suez††^		0.28			06/09/2011		5,000,000		4,998,469
GDF Suez††^		0.28			06/20/2011		12,000,000		11,995,263
GDF Suez††^		0.29			06/13/2011		23,000,000		22,991,950
GDF Suez††^		0.29			05/31/2011		20,000,000		19,995,006
Statens Bostadsfin††^		0.17			05/03/2011		7,000,000		6,999,903
Statens Bostadsfin††^		0.25			05/04/2011		8,000,000		7,999,778
Statens Bostadsfin††^		0.38			06/07/2011		33,000,000		32,986,800

									483,919,076

Total Commercial Paper (Cost $8,320,717,757)									8,320,717,757

Government Agency Debt: 0.33%
FHLMC±		0.16			02/02/2012		60,000,000		59,963,473

Total Government Agency Debt (Cost $59,963,473)									59,963,473


Municipal Bonds and Notes: 14.44%

Alabama: 0.61%

Variable Rate Demand Notes §: 0.61%
Lower Alabama Gas District Supply Revenue Series A (Utilities Revenue, Societe Generale LOC)		0.27			11/01/2027		32,000,000		32,000,000
Southeast Alabama Gas District Alabama Supply Project Series 2007-A (Utilities Revenue)		0.24			08/01/2027		80,000,000		80,000,000

									112,000,000

Arizona: 0.06%

Variable Rate Demand Note §: 0.06%
Phoenix AZ IDA (Housing Revenue, FHLMC Insured)		0.27			10/01/2029		11,500,000		11,500,000


California: 3.74%

Other Municipal Debt: 0.38%
City of San Francisco CA (Miscellaneous Revenue)		0.27			07/11/2011		2,000,000		2,000,000
City of San Francisco CA (Miscellaneous Revenue)		0.30			06/08/2011		7,000,000		7,000,000
City of San Francisco CA (Miscellaneous Revenue)		0.34			06/08/2011		4,000,000		4,000,000
City of San Francisco CA (Miscellaneous Revenue)		0.35			06/02/2011		8,000,000		8,000,000
City of San Jose CA (Miscellaneous Revenue)		0.22			05/03/2011		23,000,000		23,000,000
City of San Jose CA (Miscellaneous Revenue)		0.25			05/13/2011		9,000,000		9,000,000
City of San Jose CA International Airport (Airport Revenue)		0.24			04/29/2011		12,000,000		12,000,000
San Joaquin County CA COP (GO - Local)		0.30			06/02/2011		4,000,000		4,000,000

									69,000,000


Variable Rate Demand Notes §: 3.36%
ABAG Finance Authority for Nonprofit Corporation CA Marin Country Day School (Education Revenue, U.S. Bank NA LOC)		0.30			07/01/2037		3,000,000		3,000,000
California Educational Facilities Authority (Education Revenue, Bank of America Corporation LOC, NATL-RE Insured)		0.30			10/01/2043		19,690,000		19,690,000
California GO Series B (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		0.23			05/01/2040		8,000,000		8,000,000
California HFA Revenue Home Mortgage Series M (Housing Revenue, FNMA LOC)		0.25			08/01/2034		15,000,000		15,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes § (continued)
California HFFA Catholic Healthcare Series C (Health Revenue, JPMorgan Chase Bank LOC, NATL-RE Insured)		0.25	%		07/01/2020	$	18,000,000	$	18,000,000
California PCFA Pacific Gas & Electric Series B (Utilities Revenue, JPMorgan Chase & Company LOC)		0.27			11/01/2026		51,800,000		51,800,000
California State Economic Recovery Revenue Series C-5 (GO - State, Bank of America NA LOC)		0.21			07/01/2023		18,000,000		18,000,000
California State Series A Subseries C-2 (GO - State)		0.24			05/01/2033		21,000,000		21,000,000
California State Series B Subseries B1 (GO - State, Bank of America NA LOC)		0.24			05/01/2040		10,000,000		10,000,000
California State Series I (Health Revenue, Bank of America NA LOC)		0.24			07/01/2035		22,000,000		22,000,000
California Statewide CDA Dublin Ranch Senior Apartments (Housing Revenue)		0.27			12/15/2037		14,900,000		14,900,000
California Statewide CDA Ivy Hill Apartments Project Series I (Housing Revenue, FNMA Insured)		0.26			02/01/2033		11,337,000		11,337,000
California Statewide CDA Oakmont Senior Living Series Y (Housing Revenue, FNMA Insured)		0.26			08/01/2031		3,000,000		3,000,000
California Statewide CDA Pravillions Apartments Series M (Housing Revenue, FNMA Insured)		0.26			08/15/2034		7,700,000		7,700,000
Camarillo CA Hacienda De Camarillo Project (Housing Revenue, FNMA Insured)		0.25			10/15/2026		12,000,000		12,000,000
Contra Costa County CA Creekview Apartments Series B (Housing Revenue, FHLMC Insured)		0.25			07/01/2036		10,500,000		10,500,000
Irvine Ranch CA Water District Series A (Water & Sewer Revenue, Landesbank Baden-Wurttemberg LOC)		0.25			07/01/2035		40,800,000		40,800,000
Los Angeles CA Beverly Park Apartments Series A (Housing Revenue, FHLMC Insured)		0.26			08/01/2018		12,000,000		12,000,000
Los Angeles CA Community RDA Academy Village Apartments (Housing Revenue, FHLMC Insured)		0.24			10/01/2019		16,000,000		16,000,000
Metropolitan Water District of Southern California (Water & Sewer Revenue)		0.25			07/01/2027		8,800,000		8,800,000
Metropolitan Water District of Southern California Series B-2 (Water & Sewer Revenue)		0.30			07/01/2035		7,000,000		7,000,000
Newport Beach CA Hoag Memorial Hospital Series F (Health Revenue)		0.24			12/01/2040		21,180,000		21,180,000
Pasadena CA COP Series A (Lease Revenue, Bank of America NA LOC)		0.24			02/01/2035		53,650,000		53,650,000
Riverside CA COP Riverside Renaissance Project Series 2008 (Lease Revenue)		0.24			03/01/2037		53,260,000		53,260,000
Riverside CA Series C (Lease Revenue, Bank of America NA LOC)		0.24			10/01/2035		16,135,000		16,135,000
Sacramento County CA Housing Authority Natomas Park Apartments Issue B (Housing Revenue, FNMA Insured)		0.25			07/15/2035		15,550,000		15,550,000
Sacramento County CA Housing Authority Shadowood Apartments Project Issue A (Housing Revenue, FHLMC Insured)		0.26			12/01/2022		7,945,000		7,945,000
San Bernardino County CA TRAN Series A (Tax Revenue)		2.00			06/30/2011		15,000,000		15,040,572
San Diego CA HFA MFHR Stratton Apartments Project Series A (Housing Revenue, FNMA Insured)		0.25			01/15/2033		11,325,000		11,325,000
San Diego CA Housing Authority MFHR Hillside Garden Apartments Series B (Housing Revenue, FNMA Insured)		0.27			01/15/2035		8,500,000		8,500,000
San Francisco CA City & County Finance Corporation Moscone Center Project (Lease Revenue, Bank of America NA LOC)		0.25			04/01/2030		2,775,000		2,775,000
San Francisco CA City & County Redevelopment Agency (Lease Revenue) ††		0.26			11/01/2041		2,000,000		2,000,000
San Francisco CA City & County Redevelopment Agency (Lease Revenue, FNMA Insured)		0.27			06/15/2034		8,700,000		8,700,000
San Francisco CA City & County Redevelopment Agency Community Facilities District # 4 (Tax Revenue, Bank of America NA LOC)		0.26			08/01/2032		14,000,000		14,000,000
San Leandro CA Carlton Plaza Series A (Housing Revenue, FNMA Insured)		0.27			09/15/2032		5,800,000		5,800,000
Simi Valley CA MFHA Series A (Housing Revenue, FHLMC Insured)		0.23			07/01/2023		9,000,000		9,000,000
Southern California Public Power Authority Magnolia Power Project Series 2009-1-A (Utilities Revenue, KBC Bank NV LOC)		0.26			07/01/2036		20,170,000		20,170,000
Tustin CA USD Special Tax Community Facilities District # 07-1 (Tax Revenue)		0.24			09/01/2050		8,600,000		8,600,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes § (continued)
Whittier CA Whittier College Series 2008 (Education Revenue, Bank of America NA LOC)		0.27	%		12/01/2038	$	10,000,000	$	10,000,000

									614,157,572

Colorado: 0.42%

Variable Rate Demand Notes §: 0.42%
Colorado HFA Taxable Multiple Family Project B 2 (Housing Revenue, FNMA Insured)		0.21			05/01/2050		34,805,000		34,805,000
Colorado Housing & Finance Authority Class I-B1 (Housing Revenue)		0.27			10/01/2038		12,661,000		12,661,000
Colorado Springs CO Utility Improvement Bond Series A (Utilities Revenue)		0.26			11/01/2038		4,000,000		4,000,000
Denver CO Public Schools Series A-4 (Education Revenue)		0.17			12/15/2037		16,000,000		16,000,000
JPMorgan Chase PUTTER/DRIVER Trust (Tax Revenue) ††		0.27			06/27/2011		10,000,000		10,000,000

									77,466,000

Connecticut: 0.12%

Variable Rate Demand Note §: 0.12%
City of New Britain CT Taxable Pension Series C (Tax Revenue, Bank of America NA LOC)		0.31			02/01/2026		21,800,000		21,800,000


Delaware: 0.18%

Variable Rate Demand Notes §: 0.18%
Delaware State Economic Development Agency Clean Power Project Series 1997-C (Energy Revenue)		0.25			08/01/2029		7,000,000		7,000,000
Delaware State Economic Development Agency Clean Power Project Series 1997-D (Resource Recovery Revenue)		0.28			08/01/2029		7,000,000		7,000,000
Delaware State Economic Development Authority Series B (Resource Recovery Revenue)		0.28			08/01/2029		19,700,000		19,700,000

									33,700,000

District of Columbia: 0.31%

Variable Rate Demand Notes §: 0.31%
District of Columbia Ballpark Series B2 (Miscellaneous Revenue, Bank of America LOC)		0.29			02/01/2036		4,870,000		4,870,000
District of Columbia The American University Series A (Education Revenue)		0.25			04/01/2038		42,400,000		42,400,000
Metropolitan Washington DC Airports Authority Subseries D-2 (Airport Revenue)		0.27			10/01/2039		8,855,000		8,855,000

									56,125,000

Florida: 0.22%

Other Municipal Debt: 0.11%
Hillsborough County FL (Miscellaneous Revenue)		0.30			05/13/2011		20,000,000		20,000,000


Variable Rate Demand Notes §: 0.11%
Florida Municipal Power Agency All Requirements Supply Series C (Energy Revenue)		0.27			10/01/2035		5,000,000		5,000,000
Palm Beach County FL Pine Crest Preparatory (Education Revenue, Bank of America NA LOC)		0.29			06/01/2032		14,495,000		14,495,000

									19,495,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Georgia: 0.11%

Variable Rate Demand Note §: 0.11%
Columbus GA Housing Development Authority PFOTER (Housing Revenue, ACA Insured) ††		0.41	%		10/01/2039	$	20,490,000	$	20,490,000

Illinois: 0.50%

Other Municipal Debt: 0.03%
City of Chicago Municipal Interest Bearing Commercial Paper (Water & Sewer Revenue, BHAC-CR AMBAC Insured)		0.40			05/19/2011		6,000,000		6,000,000

Variable Rate Demand Notes §: 0.47%
Chicago IL Midway Airport Series C (Airport Revenue, Morgan Stanley Bank LOC)		0.29			01/01/2035		8,000,000		8,000,000
Cook County IL GO Series D-2 (GO - Local)		0.21			11/01/2030		17,400,000		17,400,000
Cook County IL Series D-1 (GO - Local)		0.21			11/01/2030		46,600,000		46,600,000
Illinois State Toll Highway Authority (Transportation Revenue)		0.20			07/01/2030		2,000,000		2,000,000
Illinois State Toll Highway Authority (Transportation Revenue)		0.23			07/01/2030		4,000,000		4,000,000
Illinois State Toll Highway Authority (Transportation Revenue)		0.25			07/01/2030		7,000,000		7,000,000

									85,000,000

Indiana: 0.06%

Variable Rate Demand Notes §: 0.06%
Indiana State Financing Authority (Resource Recovery Revenue, Bank of America NA LOC)		0.27			12/01/2039		5,000,000		5,000,000
Richmond IN Reid Hospital & Health Care Services Incorporated (Hospital Revenue)		0.28			01/01/2040		5,865,000		5,865,000

									10,865,000

Iowa: 0.06%

Variable Rate Demand Note §: 0.06%
Iowa Finance Authority Student Housing Des Moines LLC Project A (Housing Revenue, CitiBank NA LOC)		0.28			06/01/2039		10,000,000		10,000,000

Louisiana: 0.08%

Variable Rate Demand Notes §: 0.08%
Louisiana Public Facilities Authority (Health Revenue, JPMorgan Chase Bank LOC)		0.25			08/01/2023		3,000,000		3,000,000
Parish of St. James LA Series A-1 (Energy Revenue)		0.28			11/01/2040		6,500,000		6,500,000
Parish of St. James LA Series B-1 (Energy Revenue)		0.28			11/01/2040		5,000,000		5,000,000

									14,500,000

Maryland: 0.11%

Variable Rate Demand Notes §: 0.11%
Maryland CDA Department of Housing & Community Development Series 2007-J (Housing Revenue)		0.27			09/01/2031		6,910,000		6,910,000
Maryland CDA Series 2006-G (Housing Revenue)		0.29			09/01/2040		13,700,000		13,700,000

									20,610,000

Massachusetts: 0.44%

Other Municipal Debt: 0.03%
Massachusetts Water Resources Authority (Water & Sewer Revenue)		0.30			05/02/2011		6,000,000		6,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes §: 0.41%
Massachusetts State Department of Transportation Metro Highway Systems Contract Assistance Series A-4 (Transportation Revenue, GO of Commonwealth Insured)		0.21	%		01/01/2039	$	9,000,000	$	9,000,000
Massachusetts State Development Finance Agency Babson College B (Education Revenue, Citizens Bank LOC)		0.20			10/01/2031		25,130,000		25,130,000
Massachusetts State HEFA (Health Revenue, JPMorgan Chase Bank LOC)		0.23			10/01/2049		18,600,000		18,600,000
Massachusetts State HEFA Series N-1 (Education Revenue)		0.21			08/15/2040		9,000,000		9,000,000
Massachusetts State HEFA Series N-3 (Health Revenue)		0.24			10/01/2038		4,000,000		4,000,000
Massachusetts State HEFA Stonehill College Issue Series K (Education Revenue, Bank of America Corporation LOC)		0.23			07/01/2037		9,535,000		9,535,000

									75,265,000


Michigan: 0.04%

Variable Rate Demand Notes §: 0.04%
Michigan State Housing Development Authority Series A (Housing Revenue, GO of Authority Insured)		0.28			10/01/2037		3,970,000		3,970,000
Wayne County MI Industrial Development Authority (IDR, Bank of America NA LOC)		0.37			05/01/2020		3,000,000		3,000,000

									6,970,000


Minnesota: 0.17%

Variable Rate Demand Notes §: 0.17%
Bloomington Associates MN (Housing Revenue, LaSalle Bank NA LOC)		0.30			08/01/2037		20,500,000		20,500,000
Minnesota State Office of Higher Education Series B (Education Revenue, U.S. Bank NA LOC)		0.29			12/01/2043		4,700,000		4,700,000
Ramsey County MN Housing & Redevelopment MFHR Gateway Apartments LP Series A (Housing Revenue, LaSalle Bank NA LOC)		0.32			10/01/2038		6,000,000		6,000,000

									31,200,000


Mississippi: 0.26%

Variable Rate Demand Notes §: 0.26%
Mississippi Business Finance Corporation Chevron USA Incorporated Project Series A (IDR)		0.16			12/01/2030		12,900,000		12,900,000
Mississippi Business Finance Corporation Chevron USA Incorporated Project Series C (IDR)		0.20			12/01/2030		3,000,000		3,000,000
Mississippi State GO Bonds Nissan North America Incorporated Project Series 2003A (Tax Revenue, GO of Commonwealth Insured)		0.20			11/01/2028		31,875,000		31,873,717

									47,773,717


Missouri: 0.10%

Variable Rate Demand Notes §: 0.10%
Kansas City MO IDA Revenue Ewing Marion Kauffman Foundation (IDR)		0.28			04/01/2027		10,000,000		10,000,000
Missouri Development Finance Board Nelson Gallery Foundation (Miscellaneous Revenue)		0.26			12/01/2037		8,000,000		8,000,000

									18,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Nebraska: 0.19%

Variable Rate Demand Note §: 0.19%
Central Plains NE Nebraska Gas Project #2 Series 2009 (Utilities Revenue)		0.26	%		08/01/2039	$	34,755,000	$	34,755,000

Nevada: 0.25%

Variable Rate Demand Notes §: 0.25%
Las Vegas NV Economic Development Andre Agassi Foundation Project (Education Revenue, Bank of America LOC)		0.23			10/01/2035		18,000,000		18,000,000
Las Vegas NV Economic Development Keep Memory Alive Project (Miscellaneous Revenue, PNC Bank NA LOC)		0.26			05/01/2037		15,800,000		15,800,000
Reno NV Senior Lien Transportation Rail Access Corridor Project Series 2008A (Tax Revenue, Bank of New York LOC)		0.26			06/01/2042		11,000,000		11,000,000

									44,800,000

New Jersey: 0.85%

Other Municipal Debt: 0.10%
Merrill Lynch PFOTER (Miscellaneous Revenue) ††		0.32			02/01/2018		19,000,000		19,000,000


Variable Rate Demand Notes §: 0.75%
JPMorgan Chase PUTTER/DRIVER Trust Series 3871 (Utilities Revenue) ††		0.30			02/01/2015		5,000,000		5,000,000
JPMorgan Chase PUTTER/DRIVER Trust Series 3889 (Utilities Revenue) ††		0.27			06/23/2011		15,000,000		15,000,000
New Jersey Economic Development Authority NUI Corporation Project Series A (Energy Revenue, JPMorgan Chase Bank LOC)		0.27			06/01/2026		7,000,000		7,000,000
New Jersey Economic Development Authority Pivotal Utility Holdings Incorporated Project Series 2007 (Energy Revenue, JPMorgan Chase Bank LOC)		0.27			06/01/2032		9,000,000		9,000,000
New Jersey HFFA Princeton Healthcare System Issue Series 2010A (Hospital Revenue, Bank of America NA LOC)		0.26			07/01/2041		2,000,000		2,000,000
New Jersey State Housing & Mortgage Finance Agency Series B (Housing Revenue, Bank of America NA LOC)		0.22			05/01/2048		34,755,000		34,755,000
New Jersey State TRAN PUTTER (Miscellaneous Revenue) ††		0.27			06/23/2011		26,100,000		26,100,000
New Jersey State Turnpike Authority Series C (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		0.24			06/15/2032		13,000,000		13,000,000
New Jersey State Turnpike Authority Series D (Miscellaneous Revenue, Societe Generale LOC, NATL-RE FGIC Insured)		0.28			01/01/2018		21,000,000		21,000,000
Salem County NJ PCFA Atlantic City Electric Company Project Series A (Utilities Revenue, JPMorgan Chase Bank LOC)		0.26			04/15/2014		4,000,000		4,000,000

									136,855,000

New York: 1.48%

Other Municipal Debt: 0.27%
Long Island NY Power Authority (Utilities Revenue)		0.26			06/01/2011		10,000,000		10,000,000
New York Metropolitan Transportation Authority (Transportation Revenue)		0.26			06/02/2011		10,000,000		10,000,000
New York Metropolitan Transportation Authority (Transportation Revenue)		0.30			05/03/2011		22,000,000		22,000,000
New York Metropolitan Transportation Authority (Transportation Revenue)		0.30			06/01/2011		3,000,000		3,000,000
New York Metropolitan Transportation Authority (Transportation Revenue)		0.30			06/01/2011		4,000,000		4,000,000

									49,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes §: 1.21%
New York PFOTER (Miscellaneous Revenue) ††		0.41	%		06/15/2050	$	9,000,000	$	9,000,000
New York City NY Housing Development Corporation Mulitfamily Rental Housing The Balton Project Series A (Housing Revenue, Bank of America NA LOC, FHLMC Insured)		0.24			09/01/2049		10,875,000		10,875,000
New York City NY Housing Development Corporation Series H-2-A (Housing Revenue)		0.55			05/01/2013		3,000,000		3,000,000
New York City NY Municipal Water Finance Authority (Water & Sewer Revenue) ††		0.26			06/15/2044		8,000,000		8,000,000
New York City NY Municipal Water Finance Authority Series AA-2 (Water & Sewer Revenue)		0.35			06/15/2032		17,000,000		17,000,000
New York City NY Municipal Water Finance Authority Series B3 (Water & Sewer Revenue)		0.23			06/15/2025		8,000,000		8,000,000
New York City NY Municipal Water Finance Authority Series C (Water & Sewer Revenue)		0.35			06/15/2033		19,000,000		19,000,000
New York City NY Municipal Water Finance Authority Subseries B-1 (Water & Sewer Revenue)		0.24			06/15/2024		6,998,000		6,998,000
New York City NY Subseries B (GO - Local, TD Bank NA LOC)		0.23			09/01/2027		9,000,000		9,000,000
New York City NY Subseries C-4 (GO - Local, Bank of Tokyo-Mitsubishi UFJ LOC)		0.27			08/01/2020		2,000,000		2,000,000
New York City NY Transitional Financing Authority Class A (Miscellaneous Revenue, FSA-CR FGIC State Aid Withholding Insured)		0.27			07/15/2036		30,500,000		30,500,000
New York HFA Victory Housing Project Series 2000-A (Housing Revenue, FHLMC Insured)		0.23			11/01/2033		4,500,000		4,500,000
New York Homeowner Mortgage Agency Series 142 (Housing Revenue)		0.35			10/01/2037		19,000,000		19,000,000
New York Metropolitan Transportation Authority ROC RR 11 R-11645 (Transportation Revenue, FSA Insured) ††		0.41			11/15/2025		900,000		900,000
New York NY Subseries H-1 (GO - Local)		0.35			01/01/2036		6,000,000		6,000,000
New York NY Subseries L-5 (GO - Local)		0.50			04/01/2035		17,000,000		17,000,000
New York State Housing Finance Agency Series A (Housing Revenue)		0.26			05/01/2029		5,000,000		5,000,000
New York State Housing Finance Agency Taxable 600 West 42nd B (Housing Revenue, Bank of New York LOC)		0.34			11/01/2041		17,500,000		17,500,000
New York State Mortgage Agency Homeowner Mortgage Series 132 (Housing Revenue)		0.55			04/01/2037		3,000,000		3,000,000
New York State Mortgage Agency Homeowner Mortgage Series 150 (Housing Revenue, Dexia Credit Local Insured)		0.50			10/01/2037		25,450,000		25,450,000

									221,723,000

North Carolina: 0.08%

Variable Rate Demand Note §: 0.08%
North Carolina Education Care Community Health Care Facilities University Health Systems of Eastern Carolina Series 2008-B-2 (Hospital Revenue, Branch Banking & Trust LOC)		0.27			12/01/2036		14,405,000		14,405,000

Ohio: 0.31%

Variable Rate Demand Notes §: 0.31%
Allen County OH Hospital Facilities Catholic Healthcare Series A (Hospital Revenue)		0.25			10/01/2031		11,000,000		11,000,000
Cleveland-Cuyahoga County OH Port Authority Carnagie 89th Garage & Service Center LLC Project Series 2007 (Health Revenue, JPMorgan Chase Bank LOC)		0.24			01/01/2037		4,700,000		4,700,000
Lake County OH Hospital Facilities Series A (Health Revenue, JPMorgan Chase Bank LOC)		0.26			08/15/2041		4,000,000		4,000,000
Ohio State HFA Residential Management Taxable Series I (Housing Revenue, GNMA/FNMA Insured)		0.22			09/01/2039		24,707,000		24,707,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes § (continued)
Parma OH Community General Hospital Association Series 2006A (Health Revenue, JPMorgan Chase Bank LOC)		0.25	%		11/01/2029	$	13,100,000	$	13,100,000

									57,507,000

Oregon: 0.07%

Variable Rate Demand Notes §: 0.07%
Forest City OR Residential Management Incorporated PFOTER (Miscellaneous Revenue) ††		0.41			07/26/2012		6,000,000		5,999,973
Oregon Housing & Community Services Department Series E (Housing Revenue)		0.27			07/01/2038		7,000,000		7,000,000

									12,999,973

Pennsylvania: 0.91%

Variable Rate Demand Notes §: 0.91%
Delaware River Port Authority Series B (Transportation Revenue, Bank of America NA LOC)		0.23			01/01/2026		10,000,000		10,000,000
Doylestown PA Hospital Authority Series B (Health Revenue, PNC Bank NA LOC)		0.25			07/01/2037		20,400,000		20,400,000
Geisinger Authority PA Health System Series B (Health Revenue)		0.23			08/01/2022		6,000,000		6,000,000
JPMorgan Chase PUTTER/DRIVER Trust (Education Revenue) ††		0.29			06/30/2011		27,000,000		27,000,000
JPMorgan Chase PUTTER/DRIVER Trust Series 3826 (Miscellaneous Revenue) ††		0.28			06/30/2011		96,200,000		96,200,000
Philadelphia PA Authority For Industrial Development New Courtland Elder Services Project Series 2003 (IDR, PNC Bank NA LOC)		0.25			03/01/2027		7,000,000		7,000,000

									166,600,000

Rhode Island: 0.03%

Variable Rate Demand Note §: 0.03%
Rhode Island HEFA Brown University Issue Series A (Health Revenue)		0.21			05/01/2035		5,000,000		5,000,000

South Carolina: 0.08%

Variable Rate Demand Note §: 0.08%
South Carolina Public Service Authority (Miscellaneous Revenue) ††		0.26			01/01/2050		15,000,000		15,000,000

South Dakota: 0.03%

Variable Rate Demand Note §: 0.03%
South Dakota Housing Development Authority Series C (Housing Revenue, FNMA Insured)		0.25			05/01/2037		5,000,000		5,000,000

Tennessee: 0.16%

Variable Rate Demand Notes §: 0.16%
Metropolitan Government Nashville & Davidson County TN Stewarts Ferry Apartments (Housing Revenue, FHLMC Insured)		0.24			01/01/2034		5,000,000		5,000,000
Metropolitan Government Nashville & Davidson County TN Weatherly Ridge Apartments Series A (Housing Revenue, U.S. Bank NA LOC)		0.29			12/01/2041		3,000,000		3,000,000
Montgomery County TN Public Building Authority Pooled Financing Revenue Tennessee County Loan Pool (Miscellaneous Revenue, Bank of America NA LOC)		0.28			07/01/2034		16,000,000		16,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes § (continued)
Montgomery County TN Public Building Authority Pooled Financing Revenue Tennessee County Loan Pool (Miscellaneous Revenue, Bank of America NA LOC)		0.28	%		02/01/2036	$	5,375,000	$	5,375,000

									29,375,000

Texas: 1.60%

Other Municipal Debt: 0.09%
Texas Municipal Power Agency (Utilities Revenue)		0.30			08/09/2011		16,000,000		16,000,000

Variable Rate Demand Notes §: 1.51%
Austin TX Airport System Series A (Airport Revenue, State Street Bank & Trust Company LOC)		0.26			11/15/2017		7,000,000		7,000,000
Bexar County TX Health Facilities (Health Revenue, JPMorgan Chase Bank LOC)		0.28			12/01/2032		2,450,000		2,450,000
Gulf Coast Waste Disposal Authority Environmental Facilities Revenue Exxon Mobil Project Series A (Miscellaneous Revenue)		0.17			06/01/2030		7,000,000		7,000,000
Harris County TX Cultural Education Facilities Finance Corporation Hermann Health Series A (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		0.27			06/01/2038		10,000,000		10,000,000
Harris County TX Cultural Education Facilities Finance Corporation Hermann Health Series D1 (Hospital Revenue, JPMorgan Chase Bank LOC)		0.26			06/01/2029		6,700,000		6,700,000
Harris County TX Cultural Education Facilities Finance Corporation Hermann Health Series D2 (Health Revenue, JPMorgan Chase & Company LOC)		0.26			06/01/2029		16,500,000		16,500,000
Harris County TX Industrial Development Corporation Solid Waste Disposal Deer Park Refining Project Series A (Solid Waste Revenue)		0.23			03/01/2023		15,000,000		15,000,000
JPMorgan Chase PUTTER/DRIVER Trust Series 3812 (Miscellaneous Revenue) ††		0.27			08/31/2011		100,000,000		100,000,000
Midlothian TX Industrial Development Corporation (IDR, UBS AG LOC)		0.21			08/01/2034		15,700,000		15,700,000
Mission TX Economic Development Corporation (Miscellaneous Revenue, Bank of America NA LOC)		0.29			04/01/2022		6,000,000		6,000,000
Pasadena TX Independent School District Series B (Education Revenue)		0.46			02/01/2035		2,000,000		2,000,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series A (IDR)		0.26			04/01/2040		20,000,000		20,000,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series A (Energy Revenue)		0.26			11/01/2040		9,000,000		9,000,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series B (Energy Revenue)		0.25			12/01/2039		7,000,000		7,000,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series B (Energy Revenue)		0.26			12/01/2039		5,000,000		5,000,000
Texas State Taxable Product Development Program Series A (Miscellaneous Revenue)		0.23			06/01/2045		13,500,000		13,500,000
Tyler TX Health Facilities Development Corporation Mother Frances Hospital Series B (Hospital Revenue, Bank of America Corporation LOC)		0.35			07/01/2020		8,500,000		8,500,000
University of Texas System Series A (Education Revenue)		0.18			07/01/2037		25,000,000		25,000,000

									276,350,000

Vermont: 0.19%

Variable Rate Demand Note §: 0.19%
Vermont State Student Assistance Corporation (Education Revenue, Lloyds Bank LOC)		0.27			12/15/2040		35,500,000		35,500,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Virginia: 0.11%

Variable Rate Demand Notes §: 0.11%
Harrisonburg VA Redevelopment & Housing Authority (Housing Revenue, Bank of America NA LOC)		0.29	%		05/01/2026	$	6,110,000	$	6,110,000
Norfolk VA Redevelopment & Housing Authority Old Dominion University Project (Housing Revenue)		0.26			08/01/2033		14,000,000		14,000,000

									20,110,000

Washington: 0.24%

Other Municipal Debt: 0.08%
Providence WA Health and Services (Health Revenue)		0.37			05/18/2011		15,000,000		15,000,000

Variable Rate Demand Note §: 0.16%
King County WA Housing Authority Series A (Housing Revenue, FHLMC Insured)		0.22			07/01/2035		29,402,000		29,402,000

West Virginia: 0.05%

Variable Rate Demand Note §: 0.05%
Cabell County WV University Facilities (Education Revenue, Bank of America NA LOC)		0.27			07/01/2039		9,000,000		9,000,000

Wisconsin: 0.04%

Variable Rate Demand Notes §: 0.04%
Wisconsin Housing & Economic Development Authority (Housing Revenue, FNMA Insured, GO of Authority Insured)		0.28			09/01/2035		4,335,000		4,335,000
Wisconsin State HEFA (Education Revenue, U.S. Bank NA LOC)		0.20			12/01/2033		2,000,000		2,000,000

									6,335,000

Wyoming: 0.18%

Variable Rate Demand Notes §: 0.18%
Sweetwater County WY Pacific Corporation Project Series A (Utilities Revenue, Barclays Bank plc LOC)		0.23			07/01/2015		31,125,000		31,125,000
Wyoming Student Loan Corporation Series A-1 (Education Revenue)		0.26			06/01/2035		1,920,000		1,920,000

									33,045,000


Total Municipal Bonds and Notes (Cost $2,640,679,262)									2,640,679,262

Other Instruments: 0.66%
District of Columbia		0.28			05/06/2011		19,000,000		19,000,000
GBG LLC††§		0.30			09/01/2027		12,427,000		12,427,000
Illinois Educational Facilities Authority		0.30			06/13/2011		7,000,000		7,000,000
ING Bank NV††±		0.81			02/02/2012		42,000,000		42,000,000
ING Bank NV††±		0.82			02/10/2012		40,000,000		40,000,000

Total Other Instruments (Cost $120,427,000)									120,427,000

Other Notes: 6.52%

Corporate Bonds and Notes: 3.96%
ACTS Retirement Life Communities Incorporated§		0.18			11/15/2029		12,335,000		12,335,000
Bank of America Corporation§±		1.13			12/02/2011		240,390,000		241,628,194
Bear Stearns & Companies Incorporated±		0.52			08/15/2011		19,175,000		19,184,198
Citibank NA±		0.29			07/12/2011		24,800,000		24,802,724
Citigroup Funding Incorporated±		0.23			05/05/2011		147,100,000		147,099,646


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Corporate Bonds and Notes (continued)
Citigroup Funding Incorporated±		0.28	%		11/15/2011	$	3,000,000	$	2,998,954
General Electric Capital Corporation§±		0.51			03/12/2012		25,000,000		25,053,150
General Electric Capital Corporation§±		1.24			12/09/2011		76,773,000		77,235,820
JPMorgan Chase & Company±		0.42			05/16/2011		4,000,000		4,000,124
JPMorgan Chase & Company±		0.54			06/15/2012		15,000,000		15,046,255
LTF Real Estate LLC††§		0.30			06/01/2033		15,590,000		15,590,000
Morgan Stanley§±		1.16			12/01/2011		9,100,000		9,148,310
PNC Funding Corporation±		0.59			06/22/2011		91,500,000		91,542,473
Seariver Maritime Incorporated(i)±		0.45			10/01/2011		4,400,000		4,400,000
State Street Bank & Trust Company±		0.51			09/15/2011		30,000,000		30,028,626
US Central Federal Credit Union±		0.27			10/19/2011		3,000,000		3,000,464

									723,093,938

Secured Master Note Agreement: 2.38%
Bank of America Securities LLC§		0.25			09/09/2034		301,400,000		301,400,000
Lloyds TSB Bank plc		0.40			11/01/2011		134,000,000		134,000,000

									435,400,000

Yankee Corporate Bonds and Notes: 0.18%
Eksportfinans ASA±		0.28			09/22/2011		33,000,000		33,000,000

Total Other Notes (Cost $1,191,493,938)									1,191,493,938

Repurchase Agreements: 3.61%
Barclays Capital Incorporated, dated 04/29/2011, maturity value $153,164,416 (1)		0.05			05/02/2011		153,163,777		153,163,777
Citibank NA, dated 04/29/2011, maturity value $82,000,410 (2)		0.06			05/02/2011		82,000,000		82,000,000
Deutsche Bank Securities, dated 04/29/2011, maturity value $163,350,681 (3)		0.05			05/02/2011		163,350,000		163,350,000
Goldman Sachs & Company, dated 04/29/2011, maturity value $150,000,625 (4)		0.05			05/02/2011		150,000,000		150,000,000
JPMorgan Securities, dated 04/29/2011, maturity value $35,000,525 (5)		0.18			05/02/2011		35,000,000		35,000,000
Merrill Lynch Pierce Fenner & Smith Incorporated, dated 04/29/2011, maturity value $8,000,027 (6)		0.04			05/02/2011		8,000,000		8,000,000
Societe Generale, dated 04/29/2011, maturity value $68,000,283 (7)		0.05			05/02/2011		68,000,000		68,000,000

Total Repurchase Agreements (Cost $659,513,777)									659,513,777

Treasury Debt: 2.86%
US Treasury Bill^		0.12			10/06/2011		208,000,000		207,891,147
US Treasury Bill^		0.15			08/25/2011		130,000,000		129,935,632
US Treasury Bill^		0.16			08/18/2011		121,000,000		120,940,105
US Treasury Bill^		0.18			08/11/2011		64,000,000		63,967,680

Total Treasury Debt (Cost $522,734,564)									522,734,564

Total Investments in Securities (Cost $18,341,532,483)*		100.31	%						18,341,532,483
Other Assets and Liabilities, Net		(0.31	)						(55,996,232	)

Total Net Assets		100.00	%					$	18,285,536,251

††	Security that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

(i)

Illiquid security

§	These securities are subject to a demand feature which reduces the effective maturity.

±	Variable rate investments.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CASH INVESTMENT MONEY MARKET FUND

^	Zero coupon security. Rate represents yield to maturity.

Collateralized by:

(1) U.S. government securities, 0.00% to 5.50%, 5/5/2011 to 2/20/2041, market value including accrued interest is $156,869,350.

(2) U.S. government securities, 3.00% to 12.50%, 5/1/2011 to 11/1/2049, market value including accrued interest is $84,460,000.

(3) U.S. government securities, 4.00% to 7.00%, 7/1/2024 to 3/20/2041, market value including accrued interest is $168,250,500.

(4) U.S. government securities, 3.36% to 6.00%, 3/1/2034 to 4/1/2041, market value including accrued interest is $154,500,000.

(5) Commercial paper, 0.00%, 5/26/2011 to 6/2/2011, market value is $35,700,234.

(6)U.S. government securities, 2.63% to 4.00%, 3/1/2026 to 12/1/2040, market value including accrued interest is $8,240,000.

(z)

(7) U.S. government securities, 1.75% to 7.00%, 11/1/2013 to 12/1/2047, market value including accrued interest is $70,040,000.

*	Cost for federal income tax purposes is substantially the same as for financial reporting purposes.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

GOVERNMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Commercial Paper: 4.71%

Asset-Backed Commercial Paper: 4.71%
Straight-A Funding LLC††^		0.16	%		06/16/2011	$	100,000,000	$	99,978,750
Straight-A Funding LLC††^		0.00			05/02/2011		50,000,000		50,000,000
Straight-A Funding LLC††^		0.08			05/03/2011		45,000,000		44,999,688
Straight-A Funding LLC††^		0.13			05/04/2011		50,000,000		49,999,306
Straight-A Funding LLC††^		0.15			05/05/2011		50,000,000		49,998,958
Straight-A Funding LLC††^		0.16			06/10/2011		50,000,000		49,990,792
Straight-A Funding LLC††^		0.17			05/06/2011		100,000,000		99,997,222
Straight-A Funding LLC††^		0.18			06/21/2011		30,000,000		29,992,083
Straight-A Funding LLC††^		0.18			06/22/2011		35,000,000		34,990,579
Straight-A Funding LLC††^		0.19			05/09/2011		50,000,000		49,997,569
Straight-A Funding LLC††^		0.20			05/11/2011		50,038,000		50,034,873
Straight-A Funding LLC††^		0.21			05/12/2011		65,000,000		64,995,486
Straight-A Funding LLC††^		0.22			05/17/2011		45,208,000		45,203,291
Straight-A Funding LLC††^		0.22			06/24/2011		25,000,000		24,991,535
Straight-A Funding LLC††^		0.22			07/01/2011		32,190,000		32,177,661
Straight-A Funding LLC††^		0.23			06/08/2011		115,000,000		114,971,633
Straight-A Funding LLC††^		0.23			06/09/2011		95,000,000		94,975,933
Straight-A Funding LLC††^		0.23			06/01/2011		85,000,000		84,982,292
Straight-A Funding LLC††^		0.23			06/01/2011		20,000,000		19,995,833
Straight-A Funding LLC††^		0.24			06/02/2011		104,681,000		104,658,465
Straight-A Funding LLC††^		0.24			06/06/2011		90,000,000		89,978,125

Total Commercial Paper (Cost $1,286,910,074)									1,286,910,074

Government Agency Debt: 45.68%
FFCB±		0.10			02/22/2012		26,500,000		26,476,385
FFCB±		0.12			06/28/2011		236,000,000		235,994,265
FFCB±		0.13			06/23/2011		225,000,000		224,995,722
FFCB±		0.13			01/25/2012		145,000,000		144,915,388
FFCB^		0.15			10/12/2011		25,000,000		24,983,021
FFCB±		0.16			06/07/2011		50,000,000		49,998,873
FFCB^		0.17			08/23/2011		25,000,000		24,986,660
FFCB^		0.18			05/25/2011		50,000,000		49,993,931
FFCB^		0.18			05/31/2011		23,000,000		22,996,480
FFCB^		0.18			06/01/2011		25,000,000		24,996,042
FFCB^		0.18			06/02/2011		25,000,000		24,995,910
FFCB^		0.20			06/27/2011		40,000,000		39,987,244
FFCB^		0.20			06/13/2011		100,000,000		99,975,500
FFCB^		0.21			08/11/2011		25,000,000		24,985,271
FFCB^		0.21			08/24/2011		50,000,000		49,966,750
FFCB±		0.21			09/28/2012		100,000,000		99,985,658
FFCB±		0.21			08/13/2012		88,525,000		88,490,573
FFCB^		0.22			08/09/2011		100,000,000		99,939,500
FFCB±		0.23			02/13/2012		50,000,000		50,003,932
FFCB±		0.23			03/14/2012		200,000,000		199,972,994
FFCB±		0.26			02/07/2013		147,000,000		146,979,706
FFCB±		0.31			05/18/2011		16,200,000		16,201,084
FFCB±		0.33			10/07/2011		200,000,000		200,018,121
FFCB		0.55			09/30/2011		24,110,000		24,152,363
FFCB		0.57			06/09/2011		25,000,000		25,011,507
FFCB		0.68			09/01/2011		6,000,000		6,010,766
FFCB		1.13			10/03/2011		30,500,000		30,620,329
FFCB		3.50			10/03/2011		50,200,000		50,907,415
FHLB^		0.07			05/06/2011		50,000,000		49,999,444
FHLB^		0.08			05/27/2011		150,000,000		149,990,625
FHLB^		0.09			09/06/2011		150,000,000		149,952,375
FHLB±		0.12			07/28/2011		150,000,000		149,987,268
FHLB±		0.12			07/20/2011		165,000,000		164,989,018
FHLB±		0.12			07/25/2011		150,000,000		149,987,707
FHLB^		0.13			05/16/2011		10,800,000		10,799,370
FHLB±		0.14			06/07/2011		160,000,000		159,993,575


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

GOVERNMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Government Agency Debt (continued)
FHLB±		0.14	%		08/12/2011	$	150,000,000	$	149,983,100
FHLB±		0.14			07/15/2011		39,000,000		38,992,945
FHLB^		0.15			06/29/2011		64,000,000		63,984,533
FHLB^		0.15			10/07/2011		100,000,000		99,934,167
FHLB^		0.16			09/23/2011		25,000,000		24,983,500
FHLB±		0.16			05/25/2011		250,000,000		249,996,841
FHLB±		0.18			05/02/2011		2,800,000		2,800,000
FHLB		0.20			07/25/2011		250,000,000		249,987,238
FHLB		0.20			08/03/2011		50,000,000		50,003,720
FHLB±		0.20			02/28/2012		250,000,000		249,928,268
FHLB		0.21			08/10/2011		83,265,000		83,260,425
FHLB±		0.25			10/13/2011		251,400,000		251,441,119
FHLB±		0.27			11/07/2011		150,000,000		149,968,500
FHLB		0.51			06/22/2011		100,000,000		100,040,617
FHLB		0.58			06/03/2011		31,500,000		31,510,220
FHLB		0.67			06/14/2011		72,605,000		72,644,471
FHLB		0.76			07/19/2011		53,000,000		53,064,241
FHLB		1.13			07/18/2011		1,025,000		1,027,090
FHLB		2.63			05/20/2011		199,985,000		200,225,692
FHLB		3.75			09/09/2011		15,565,000		15,764,150
FHLB		4.25			06/10/2011		10,000,000		10,044,366
FHLB		5.25			06/10/2011		10,000,000		10,055,003
FHLMC^		0.08			06/24/2011		82,200,000		82,190,319
FHLMC^		0.09			07/11/2011		100,000,000		99,981,528
FHLMC^		0.10			05/04/2011		75,000,000		74,999,208
FHLMC^		0.10			08/12/2011		100,000,000		99,971,667
FHLMC^		0.10			09/01/2011		87,000,000		86,970,517
FHLMC^		0.11			09/12/2011		213,050,000		212,963,419
FHLMC^		0.12			06/02/2011		51,700,000		51,694,212
FHLMC^		0.13			06/20/2011		216,300,000		216,258,783
FHLMC^		0.14			05/23/2011		200,000,000		199,982,500
FHLMC^		0.15			05/09/2011		99,296,000		99,292,332
FHLMC^		0.15			10/04/2011		25,500,000		25,483,531
FHLMC^		0.16			08/16/2011		113,429,000		113,375,562
FHLMC±		0.16			02/02/2012		23,007,000		22,992,979
FHLMC^		0.17			09/19/2011		50,000,000		49,965,972
FHLMC^		0.18			08/09/2011		96,031,000		95,983,465
FHLMC^		0.18			08/15/2011		92,144,000		92,095,624
FHLMC^		0.18			08/22/2011		94,000,000		93,947,360
FHLMC^		0.18			09/26/2011		179,334,000		179,202,190
FHLMC±		0.18			09/26/2011		50,000,000		49,998,961
FHLMC^		0.19			08/08/2011		113,429,000		113,370,332
FHLMC^		0.20			07/18/2011		50,000,000		49,978,076
FHLMC^		0.20			07/13/2011		125,000,000		124,947,500
FHLMC±		0.21			05/11/2012		150,000,000		149,922,975
FHLMC^		0.21			07/05/2011		158,889,000		158,822,413
FHLMC±		0.22			05/04/2011		172,500,000		172,499,733
FHLMC^		0.23			05/24/2011		200,000,000		199,969,444
FHLMC^		0.23			05/26/2011		250,000,000		249,958,333
FHLMC		1.63			07/27/2011		69,845,000		70,077,735
FHLMC		3.50			05/05/2011		46,745,000		46,757,669
FHLMC		3.63			09/16/2011		30,540,000		30,935,953
FHLMC		5.25			07/18/2011		276,525,000		279,530,565
FHLMC		5.50			09/15/2011		6,010,000		6,128,408
FNMA^		0.08			07/21/2011		100,000,000		99,982,222
FNMA^		0.08			05/10/2011		250,000,000		249,994,444
FNMA^		0.09			08/08/2011		125,000,000		124,963,931
FNMA^		0.09			05/27/2011		250,000,000		249,982,639
FNMA^		0.09			05/31/2011		225,000,000		224,981,875
FNMA^		0.10			06/02/2011		55,000,000		54,994,790
FNMA±		0.11			07/27/2011		250,000,000		249,961,101
FNMA^		0.12			08/22/2011		150,000,000		149,934,666
FNMA^		0.12			08/23/2011		200,000,000		199,924,667


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

GOVERNMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Government Agency Debt (continued)
FNMA^		0.12	%		09/26/2011	$	54,800,000	$	54,773,148
FNMA^		0.13			09/27/2011		82,200,000		82,156,069
FNMA^		0.13			05/16/2011		9,755,000		9,754,431
FNMA^		0.13			05/17/2011		29,200,000		29,198,175
FNMA^		0.13			05/18/2011		20,000,000		19,998,667
FNMA^		0.13			10/12/2011		40,780,000		40,755,073
FNMA^		0.14			10/19/2011		150,000,000		149,897,292
FNMA^		0.15			08/25/2011		225,000,000		224,892,188
FNMA^		0.15			10/05/2011		72,660,000		72,612,771
FNMA±		0.15			08/11/2011		150,000,000		149,979,099
FNMA^		0.15			06/29/2011		21,694,000		21,688,408
FNMA^		0.17			09/21/2011		88,000,000		87,940,991
FNMA^		0.17			09/28/2011		204,840,000		204,688,284
FNMA^		0.18			08/17/2011		21,582,000		21,570,454
FNMA^		0.18			08/24/2011		150,000,000		149,914,500
FNMA^		0.18			08/03/2011		200,000,000		199,904,417
FNMA±		0.23			11/23/2012		100,000,000		99,952,630
FNMA±		0.25			09/17/2012		100,000,000		99,972,146
FNMA±		0.25			10/18/2012		150,000,000		149,955,506
FNMA±		0.27			12/20/2012		100,000,000		99,966,967
FNMA		1.16			09/08/2011		10,000,000		10,033,820
FNMA		3.63			08/15/2011		25,988,000		26,247,650
FNMA		6.00			05/15/2011		19,598,000		19,638,993

Total Government Agency Debt (Cost $12,484,342,257)									12,484,342,257

Other Notes: 5.42%

Corporate Bonds and Notes: 5.42%
American Express Bank FSB ±		1.21			12/09/2011		50,000,000		50,298,552
Bank of America Corporation ±		0.57			04/30/2012		146,835,000		147,342,457
Bank of America Corporation ±		1.13			12/02/2011		84,268,000		84,700,924
Citibank NA±		0.29			07/12/2011		45,000,000		45,006,018
Citibank NA±		0.34			05/07/2012		39,970,000		39,999,199
Citibank NA		1.25			09/22/2011		12,542,000		12,595,931
Citibank NA		1.38			08/10/2011		139,046,000		139,475,621
Citibank NA		1.50			07/12/2011		101,675,000		101,936,463
Citigroup Incorporated±		0.60			04/30/2012		21,485,000		21,565,201
Citigroup Incorporated±		0.61			03/30/2012		12,315,000		12,353,821
Citigroup Incorporated		1.25			06/03/2011		47,605,000		47,647,799
Citigroup Incorporated		1.38			05/05/2011		154,643,000		154,657,790
General Electric Capital Corporation±		0.26			05/08/2012		14,500,000		14,498,603
General Electric Capital Corporation±		0.34			04/24/2012		65,000,000		65,071,896
General Electric Capital Corporation±		0.51			03/12/2012		50,000,000		50,106,300
General Electric Capital Corporation±		1.24			12/09/2011		50,000,000		50,297,393
Goldman Sachs Group Incorporated±		0.56			11/09/2011		146,705,000		146,950,606
Goldman Sachs Group Incorporated		1.63			07/15/2011		160,654,000		161,124,602
JPMorgan Chase & Company±		0.54			06/15/2012		125,000,000		125,386,053
Morgan Stanley±		0.59			02/10/2012		10,000,000		10,025,290

Total Other Notes (Cost $1,481,040,519)									1,481,040,519

Repurchase Agreements(z): 43.47%
Bank of America NA, dated 04/29/2011, maturity value $1,000,002,778 (1)		0.05			05/02/2011		1,000,000,000		1,000,000,000
Barclays Capital Incorporated, dated 04/29/2011, maturity value $1,037,776,730 (2)		0.03			05/02/2011		1,037,775,000		1,037,775,000
Barclays Capital Incorporated, dated 04/29/2011, maturity value $1,255,003,486 (3)		0.05			05/02/2011		1,255,000,000		1,255,000,000
BNP Paribas Securities, dated 04/29/2011, maturity value $1,250,003,472 (4)		0.05			05/02/2011		1,250,000,000		1,250,000,000
Citibank NA, dated 04/29/2011, maturity value $15,000,050 (5)		0.06			05/02/2011		15,000,000		15,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

GOVERNMENT MONEY MARKET FUND


Security Name			Interest Rate			Maturity Date		Principal		Value
Repurchase Agreements(z) (continued)
Citigroup Global Markets, dated 04/29/2011, maturity value $835,002,783 (6)				0.06	%		05/02/2011	$	835,000,000	$	835,000,000
Credit Suisse First Boston Corporation, dated 04/29/2011, maturity value $250,001,667 (7)				0.08			05/04/2011		250,000,000		250,000,000
Deutsche Bank Securities, dated 04/29/2011, maturity value $1,110,003,083 (8)				0.05			05/02/2011		1,110,000,000		1,110,000,000
Deutsche Bank Securities, dated 04/29/2011, maturity value $250,001,667 (9)				0.12			05/02/2011		250,000,000		250,000,000
Goldman Sachs & Company, dated 04/29/2011, maturity value $250,002,431 (10)				0.07			05/05/2011		250,000,000		250,000,000
JPMorgan Securities, dated 04/29/2011, maturity value $500,001,389 (11)				0.05			05/02/2011		500,000,000		500,000,000
Merrill Lynch Pierce Fenner & Smith Incorporated, dated 04/29/2011, maturity value $92,000,204 (12)				0.04			05/02/2011		92,000,000		92,000,000
Morgan Stanley & Company, dated 04/29/2011, maturity value $100,000,167 (13)				0.03			05/02/2011		100,000,000		100,000,000
RBC Capital Markets, dated 04/29/2011, maturity value $250,000,694 (14)				0.05			05/02/2011		250,000,000		250,000,000
RBS Securities Incorporated, dated 04/29/2011, maturity value $1,000,002,778 (15)				0.05			05/02/2011		1,000,000,000		1,000,000,000
RBS Securities Incorporated, dated 04/29/2011, maturity value $250,003,750 (16)				0.09			05/06/2011		250,000,000		250,000,000
Societe Generale, dated 04/29/2011, maturity value $685,001,903 (17)				0.05			05/02/2011		685,000,000		685,000,000
UBS Securities LLC, dated 04/29/2011, maturity value $250,002,083 (18)				0.10			05/03/2011		250,000,000		250,000,000
UBS Securities LLC, dated 04/29/2011, maturity value $1,500,005,000 (19)				0.06			05/02/2011		1,500,000,000		1,500,000,000

Total Repurchase Agreements (Cost $11,879,775,000)											11,879,775,000


Treasury Debt: 0.73%

US Treasury Bill ^				0.10			05/05/2011		200,000,000		199,998,333


Total Treasury Debt (Cost $199,998,333)											199,998,333

Total Investments in Securities (Cost $27,332,066,183)*	100.01	%									27,332,066,183

Other Assets and Liabilities, Net	(0.01	)									(2,370,153	)

Total Net Assets	100.00	%								$	27,329,696,030


(z) Collateralized by:

(1) U.S. government securities, 2.59% to 6.00%, 12/1/2017 to 6/1/2039, market value including accrued interest is $1,030,000,000.
(2) U.S. government securities, 0.50% to 3.625%, 4/15/2015 to 4/15/2028, market value including accrued interest is $1,058,530,545.
(3) U.S. government securities, 0.00% to 5.50%, 5/5/2011 to 2/20/2041, market value including accrued interest is $1,285,362,881.
(4) U.S. government securities, 2.00% to 6.08%, 11/1/2025 to 4/1/2041, market value including accrued interest is $1,287,500,001.
(5) U.S. government securities, 3.00% to 12.50%, 5/1/2011 to 11/1/2049, market value including accrued interest is $15,450,000.
(6) U.S. government securities, 2.91% to 5.71%, 10/1/2020 to 4/1/2041, market value including accrued interest is $860,050,000.
(7) U.S. government security, 5.00%, 10/20/2039, market value including accrued interest is $257,500,374.
(8) U.S. government securities, 4.00% to 7.00%, 7/1/2024 to 3/20/2041, market value including accrued interest is $1,143,300,001.
(9) U.S. government securities, 2.57% to 7.00%, 4/1/2019 to 5/1/2040, market value including accrued interest is $257,500,001.
(10) U.S. government securities, 3.14% to 3.60%, 9/1/2040 to 4/1/2041, market value including accrued interest is $257,500,000.
(11) U.S. government securities, 4.00% to 6.00%, 4/1/2026 to 10/1/2037, market value including accrued interest is $515,000,918.
(12) U.S. government securities, 2.63% to 4.00%, 3/1/2026 to 12/1/2040, market value including accrued interest is $94,760,000.
(13) U.S. government securities, 4.50% to 6.00%, 2/1/2037 to 4/1/2041, market value including accrued interest is $103,000,000.
(14) U.S. government securities, 2.56% to 6.00%, 1/1/2016 to 4/1/2041, market value including accrued interest is $257,500,000.
(15) U.S. government securities, 1.97% to 6.09%, 2/1/2026 to 5/1/2041, market value including accrued interest is $1,030,002,183.
(16) U.S. government securities, 2.14% to 6.68%, 9/1/2018 to 4/1/2041, market value including accrued interest is $257,502,392.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

GOVERNMENT MONEY MARKET FUND

(17) U.S. government securities, 1.75% to 7.00%, 11/1/2013 to 12/1/2047, market value including accrued interest is $705,550,000.

(18) U.S. government securities, 4.50% to 6.50%, 2/1/2037 to 9/1/2040, market value including accrued interest is $257,500,000.

(19) U.S. government securities, 4.00% to 5.50%, 4/1/2024 to 12/1/2040, market value including accrued interest is $1,545,000,000.

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

^	Zero coupon security. Rate represents yield to maturity.

±	Variable rate investments.

*	Cost for federal income tax purposes is substantially the same as for financial reporting purposes.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date	Principal		Value
Certificates of Deposit: 28.48%
Abbey National Treasury Services		0.12	%	05/02/2011	$	820,000,000		820,000,000
Banco Bilbao Vizcaya Argentaria (London)		0.15		05/02/2011		721,000,000		721,000,000
Banco Del Estado De Chile plc		0.23		05/03/2011		101,000,000		101,000,000
Banco Santander (Madrid)		0.13		05/02/2011		515,000,000		515,000,000
Banco Santander (Madrid)		0.14		05/03/2011		300,000,000		300,000,000
Bank of Nova Scotia		0.28		05/31/2011		139,000,000		139,000,000
Barclays Bank plc ±		0.78		08/12/2011		173,000,000		173,000,000
Barclays Bank plc (New York) ±		0.62		04/16/2012		101,000,000		101,000,000
Barclays Bank plc (New York) ±		0.68		01/17/2012		262,000,000		262,000,000
Barclays Bank plc (New York) ±		0.71		10/24/2011		86,000,000		86,000,000
Bayer AG		0.14		05/03/2011		380,000,000		380,000,000
BNP Paribas		0.39		07/01/2011		121,000,000		121,000,000
Credit Agricole		0.11		05/02/2011		215,000,000		215,000,000
Credit Agricole		0.14		05/03/2011		77,000,000		77,000,000
Credit Agricole		0.14		05/03/2011		252,000,000		252,000,000
Credit Agricole		0.32		06/16/2011		60,000,000		60,000,000
Credit Agricole		0.37		07/11/2011		61,000,000		61,000,000
Credit Agricole		0.38		06/01/2011		102,000,000		102,000,000
Credit Agricole		0.38		07/06/2011		146,000,000		146,000,000
Credit Agricole		0.51		06/06/2011		58,000,000		58,009,551
Credit Industriel et Commercial		0.41		05/16/2011		126,000,000		126,008,566
Danske Corporation		0.15		05/03/2011		286,000,000		286,000,000
DNB Nor Bank ASA		0.10		05/02/2011		852,000,000		852,000,000
Groupe BPCE		0.13		05/02/2011		575,000,000		575,000,000
HSBC Bank plc		0.11		05/02/2011		124,000,000		124,000,000
Intesa Sanpaolo SpA (London)		0.13		05/03/2011		109,000,000		109,000,000
KBC Bank NV Brussels		0.09		05/02/2011		524,900,000		524,900,000
Lloyds TSB Bank plc (London)		0.12		05/02/2011		21,000,000		21,000,000
National Bank of Canada ±		0.41		10/07/2011		224,000,000		224,000,000
National Bank of Canada ±		0.41		09/21/2011		126,000,000		126,000,000
Natixis Corporation		0.11		05/02/2011		354,000,000		354,000,000
Natixis Corporation		0.40		05/23/2011		58,000,000		58,000,674
Natixis Corporation		0.41		05/09/2011		36,000,000		36,000,069
Natixis Corporation ±		0.54		07/07/2011		224,000,000		224,000,000
Nordea Bank Finland plc ±		0.57		10/20/2011		25,000,000		25,044,368
Nordea Bank Finland plc ±		0.58		10/14/2011		38,970,000		39,022,768
Norinchukin Bank		0.18		05/03/2011		47,000,000		47,000,000
Norinchukin Bank		0.18		05/06/2011		215,000,000		215,000,000
Rabobank Nederland NV		0.29		10/21/2011		108,000,000		108,000,000
Rabobank Nederland NV		0.31		04/24/2012		248,000,000		247,987,654
Rabobank Nederland NV ±		0.31		01/10/2012		147,000,000		147,000,000
Rabobank Nederland NV ±		0.32		12/06/2011		131,000,000		131,000,000
Royal Bank of Scotland plc ±		0.44		10/31/2011		317,000,000		317,000,000
Royal Bank of Scotland plc ±		0.53		09/13/2011		251,000,000		251,000,000
Skandinav Enskilda Banken		0.29		06/28/2011		118,000,000		118,000,000
Skandinav Enskilda Banken		0.34		05/16/2011		141,000,000		140,999,726
Skandinav Enskilda Banken		0.34		05/06/2011		246,000,000		246,000,000
Skandinav Enskilda Banken		0.35		05/23/2011		124,000,000		124,000,000
Societe Generale (New York)		0.12		05/02/2011		291,000,000		291,000,000
Societe Generale (New York) ±		0.34		01/27/2012		153,000,000		153,000,000
Societe Generale (New York)		0.56		08/12/2011		245,000,000		245,000,000
Societe Generale (New York) ±		1.71		05/05/2011		75,000,000		75,000,000
Sumitomo Mitsui Banking Corporation		0.16		05/06/2011		304,000,000		304,000,000
Sumitomo Mitsui Banking Corporation		0.17		05/05/2011		273,000,000		273,000,000
Sumitomo Mitsui Banking Corporation		0.17		05/05/2011		345,000,000		345,000,000
Sumitomo Mitsui Banking Corporation		0.18		05/03/2011		313,000,000		313,000,000
Sumitomo Mitsui Banking Corporation		0.19		05/02/2011		340,000,000		340,000,000
Sumitomo Mitsui Banking Corporation		0.19		05/02/2011		203,000,000		203,000,000
Svenska Handsbanken AB		0.10		05/02/2011		267,000,000		267,000,000
Svenska Handsbanken AB		0.28		06/15/2011		158,000,000		158,000,000
Svenska Handsbanken AB		0.28		06/06/2011		73,000,000		73,000,354
Toronto-Dominion Bank ±		0.31		01/12/2012		167,000,000		167,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Certificates of Deposit (continued)
UBS AG		0.30	%		05/09/2011	$	117,000,000		117,000,000

Total Certificates of Deposit (Cost $13,810,973,730)									13,810,973,730


Commercial Paper: 43.69%

Asset-Backed Commercial Paper: 25.35%
Alpine Securitzation ††^		0.15			05/19/2011		83,000,000		82,993,337
Alpine Securitzation ††^		0.15			05/20/2011		92,600,000		92,592,129
Alpine Securitzation ††^		0.16			05/25/2011		83,000,000		82,990,985
Alpine Securitzation ††^		0.16			05/26/2011		83,000,000		82,990,593
Amsterdam Funding Corporation ††^		0.31			07/06/2011		22,900,000		22,886,769
Antalis US Funding Corporation ††^		0.08			05/03/2011		78,100,000		78,099,501
Antalis Us Funding Corporation ††^		0.29			06/10/2011		30,000,000		29,990,250
Arabella Finance LLC ††^		0.33			05/05/2011		29,000,000		28,998,671
Arabella Finance LLC ††^		0.43			05/11/2011		30,000,000		29,996,100
Arabella Finance LLC ††^		0.48			05/23/2011		38,500,000		38,488,322
Arabella Finance LLC ††^		0.49			05/31/2011		30,000,000		29,987,433
Arabella Finance LLC ††^		0.49			05/27/2011		76,000,000		75,972,028
Argento Funding Companies Limited ††^		0.11			05/03/2011		16,000,000		15,999,853
Argento Funding Companies Limited ††^		0.16			05/04/2011		33,000,000		32,999,413
Argento Funding Companies Limited ††^		0.24			07/27/2011		26,000,000		25,984,472
Argento Funding Companies Limited ††^		0.26			07/19/2011		53,000,000		52,968,995
Argento Funding Companies Limited ††^		0.30			06/02/2011		81,000,000		80,977,680
Argento Funding Companies Limited ††^		0.30			06/03/2011		93,000,000		92,973,547
Argento Funding Companies Limited ††^		0.31			05/13/2011		120,000,000		119,986,433
Argento Funding Companies Limited ††^		0.32			08/08/2011		99,000,000		98,911,065
Argento Funding Companies Limited ††^		0.34			06/06/2011		56,000,000		55,980,400
Aspen Funding Corporation ††^		0.26			07/06/2011		40,000,000		39,980,500
Aspen Funding Corporation ††^		0.26			07/07/2011		42,000,000		41,979,210
Aspen Funding Corporation ††^		0.29			05/27/2011		55,000,000		54,988,160
Aspen Funding Corporation ††^		0.29			06/16/2011		64,109,000		64,084,959
Atlantic Asset Securities ††^		0.09			05/03/2011		55,000,000		54,999,588
Atlantic Asset Securitization Corporation ††^		0.14			05/04/2011		64,500,000		64,499,033
Atlantic Asset Securitization Corporation ††^		0.24			06/02/2011		29,000,000		28,993,757
Atlantic Asset Securitization Corporation ††^		0.26			07/05/2011		54,000,000		53,974,080
Atlantic Asset Securitization Corporation ††^		0.26			07/07/2011		29,000,000		28,985,645
Atlantic Asset Securitization Corporation ††^		0.26			07/11/2011		64,000,000		63,966,400
Atlantic Asset Securitization Corporation ††^		0.27			05/23/2011		106,775,000		106,756,909
Atlantis One Funding Corporation ††^		0.23			05/11/2011		71,000,000		70,995,030
Atlantis One Funding Corporation ††^		0.23			05/12/2011		75,000,000		74,994,167
Autobahn Funding Company LLC ††^		0.19			05/13/2011		35,000,000		34,997,540
Barton Capital Corporation ††^		0.23			05/09/2011		25,075,000		25,073,586
Belmont Funding LLC ††		0.00			05/02/2011		26,000,000		26,000,000
CAFCO LLC ††^		0.27			05/19/2011		14,000,000		13,998,017
CAFCO LLC ††^		0.27			05/23/2011		50,000,000		49,991,250
Cancara Asset Securitisation LLC ††^		0.19			05/05/2011		24,000,000		23,999,380
Cancara Asset Securitisation LLC ††^		0.19			05/12/2011		80,000,000		79,994,889
Cancara Asset Securitisation LLC ††^		0.24			05/09/2011		171,000,000		170,989,693
Cancara Asset Securitisation LLC ††^		0.24			07/18/2011		48,000,000		47,974,333
Cancara Asset Securitisation LLC ††^		0.24			07/20/2011		83,000,000		82,954,465
Cancara Asset Securitisation LLC ††^		0.24			07/21/2011		75,000,000		74,958,333
Cancara Asset Securitisation LLC ††^		0.27			05/16/2011		182,000,000		181,978,059
Cancara Asset Securitisation LLC ††^		0.27			05/17/2011		40,000,000		39,994,833
Cancara Asset Securitisation LLC ††^		0.34			06/28/2011		120,000,000		119,933,500
Cancara Asset Securitisation LLC ††^		0.34			06/29/2011		27,000,000		26,984,775
Chariot Funding LLC ††^		0.15			05/16/2011		134,814,000		134,805,087
Charta LLC ††^		0.14			05/11/2011		42,000,000		41,998,215
Charta LLC ††^		0.27			05/19/2011		17,000,000		16,997,592
Ciesco LLC ††^		0.27			05/19/2011		7,000,000		6,999,008
Concord Minutemen Capital Company ††^		0.20			05/04/2011		99,000,000		98,997,800
Concord Minutemen Capital Company ††^		0.27			05/06/2011		55,000,000		54,997,556
Concord Minutemen Capital Company ††^		0.32			05/10/2011		106,000,000		105,990,578


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Asset-Backed Commercial Paper (continued)
Concord Minutemen Capital Company ††^		0.33	%		05/11/2011	$	28,000,000		27,997,200
Concord Minutemen Capital Company ††^		0.35			05/17/2011		36,000,000		35,994,000
Concord Minutemen Capital Company ††^		0.36			05/19/2011		53,000,000		52,989,989
Concord Minutemen Capital Company ††^		0.37			05/26/2011		75,000,000		74,980,000
CRC Funding LLC ††^		0.27			06/13/2011		45,000,000		44,985,300
Crown Point Capital Company ††		0.00			05/02/2011		57,000,000		57,000,000
Crown Point Capital Company ††^		0.13			05/03/2011		38,000,000		37,999,578
Crown Point Capital Company ††^		0.24			05/05/2011		41,000,000		40,998,633
Crown Point Capital Company ††^		0.33			05/11/2011		79,000,000		78,992,100
Crown Point Capital Company ††^		0.34			05/13/2011		143,000,000		142,982,522
Crown Point Capital Company ††^		0.35			05/16/2011		51,000,000		50,992,067
Crown Point Capital Company ††^		0.36			05/18/2011		53,000,000		52,990,578
Crown Point Capital Company ††^		0.36			05/19/2011		24,000,000		23,995,467
Crown Point Capital Company ††^		0.37			05/23/2011		77,000,000		76,982,033
Crown Point Capital Company ††^		0.38			06/03/2011		35,000,000		34,987,555
Ebbets Funding LLC ††		0.00			05/02/2011		47,000,000		47,000,000
Ebbets Funding LLC ††^		0.17			05/03/2011		44,000,000		43,999,389
Gemini Securitization Corporation LLC ††^		0.10			05/03/2011		46,000,000		45,999,617
Gemini Securitization Corporation LLC ††^		0.15			05/04/2011		31,000,000		30,999,483
Gemini Securitization Corporation LLC ††^		0.17			05/11/2011		72,030,000		72,026,218
Gemini Securitization Corporation LLC ††^		0.24			07/12/2011		20,000,000		19,990,139
Gemini Securitization Corporation LLC ††^		0.24			07/21/2011		62,000,000		61,965,556
Gemini Securitization Corporation LLC ††^		0.24			07/25/2011		31,000,000		30,981,917
Gemini Securitization Corporation LLC ††^		0.25			07/06/2011		125,000,000		124,941,319
Gemini Securitization Corporation LLC ††^		0.25			07/08/2011		74,000,000		73,964,192
Gemini Securitization Corporation LLC ††^		0.28			06/01/2011		24,000,000		23,994,000
Gemini Securitization Corporation LLC ††^		0.28			06/02/2011		49,000,000		48,987,342
Gemini Securitization LLC ††^		0.24			07/26/2011		50,038,000		50,008,464
Govco LLC ††^		0.16			05/24/2011		34,079,000		34,075,460
Govco LLC ††^		0.23			07/12/2011		40,000,000		39,981,067
Govco LLC ††^		0.23			07/15/2011		83,000,000		82,959,053
Govco LLC ††^		0.25			05/13/2011		14,000,000		13,998,717
Govco LLC ††^		0.26			05/16/2011		30,000,000		29,996,500
Govco LLC ††^		0.28			06/13/2011		44,500,000		44,484,944
Govco LLC ††^		0.28			06/15/2011		59,000,000		58,979,088
Govco LLC ††^		0.28			05/31/2011		32,000,000		31,992,267
Grampian Funding LLC ††^		0.30			06/17/2011		50,000,000		49,980,194
Grampian Funding LLC ††^		0.11			05/03/2011		37,000,000		36,999,671
Grampian Funding LLC ††^		0.16			05/04/2011		118,000,000		117,997,881
Grampian Funding LLC ††^		0.19			05/05/2011		60,000,000		59,998,400
Grampian Funding LLC ††^		0.26			05/10/2011		85,000,000		84,993,956
Grampian Funding LLC ††^		0.27			07/12/2011		136,000,000		135,924,897
Grampian Funding LLC ††^		0.27			07/13/2011		78,000,000		77,956,320
Grampian Funding LLC ††^		0.29			06/08/2011		86,000,000		85,972,599
Grampian Funding LLC ††^		0.30			06/14/2011		99,000,000		98,963,342
Grampian Funding LLC ††^		0.30			06/02/2011		69,000,000		68,980,987
Grampian Funding LLC ††^		0.30			06/03/2011		64,500,000		64,481,653
Grampian Funding LLC ††^		0.30			08/10/2011		39,000,000		38,966,417
Jupiter Securitization Corporation LLC ††^		0.15			05/16/2011		100,814,000		100,807,335
Kells Funding LLC ††^		0.21			07/21/2011		57,000,000		56,972,133
Kells Funding LLC ††^		0.26			05/09/2011		54,000,000		53,996,535
Kells Funding LLC †† ±		0.35			11/29/2011		246,000,000		246,000,000
Kells Funding LLC †† ±		0.36			12/16/2011		117,000,000		117,000,000
Kells Funding LLC †† ±		0.39			02/21/2012		229,000,000		229,000,000
Legacy Capital Company ††^		0.13			05/03/2011		60,000,000		59,999,333
Legacy Capital Company ††^		0.24			05/05/2011		41,000,000		40,998,633
Legacy Capital Company ††^		0.33			05/12/2011		73,000,000		72,991,889
Lexington Parker Capital ††		0.00			05/02/2011		37,000,000		37,000,000
Lexington Parker Capital ††^		0.24			05/05/2011		17,000,000		16,999,433
Lexington Parker Capital ††^		0.31			05/09/2011		36,000,000		35,997,200
Lexington Parker Capital ††^		0.33			05/12/2011		52,000,000		51,994,222
Lexington Parker Capital ††^		0.36			05/18/2011		72,000,000		71,987,200
Lexington Parker Capital ††^		0.37			05/24/2011		66,000,000		65,983,867


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Asset-Backed Commercial Paper (continued)
Lexington Parker Capital ††^		0.37	%		05/25/2011	$	135,000,000		134,965,500
LMA Americas LLC ††^		0.15			05/06/2011		29,300,000		29,299,251
LMA Americas LLC ††^		0.20			05/20/2011		3,000,000		2,999,670
LMA Americas LLC ††^		0.23			06/20/2011		158,400,000		158,337,974
LMA Americas LLC ††^		0.24			07/20/2011		25,100,000		25,086,230
LMA Americas LLC ††^		0.24			07/27/2011		8,800,000		8,794,744
LMA Americas LLC ††^		0.24			07/28/2011		19,100,000		19,088,460
LMA Americas LLC ††^		0.26			06/23/2011		42,000,000		41,983,620
LMA Americas LLC ††^		0.26			07/13/2011		39,500,000		39,478,670
LMA Americas LLC ††^		0.27			07/15/2011		121,000,000		120,930,358
LMA Americas LLC ††^		0.29			06/14/2011		35,000,000		34,987,458
LMA Americas LLC ††^		0.29			05/27/2011		42,000,000		41,992,021
Matchpoint Master Trust ††^		0.18			05/27/2011		159,000,000		158,979,021
Matchpoint Master Trust ††^		0.18			05/19/2011		47,000,000		46,995,561
Matchpoint Master Trust ††^		0.26			05/16/2011		91,825,000		91,814,287
Metlife Short Term Funding LLC ††^		0.24			07/12/2011		30,000,000		29,985,208
MetLife Short Term Funding LLC ††^		0.24			07/13/2011		107,000,000		106,946,500
Mont Blanc Capital Corporation ††^		0.23			07/06/2011		24,000,000		23,989,600
Mont Blanc Capital Corporation ††^		0.23			07/12/2011		30,000,000		29,985,800
Mont Blanc Capital Corporation ††^		0.25			05/13/2011		64,000,000		63,994,133
Mont Blanc Capital Corporation ††^		0.27			05/17/2011		25,949,000		25,945,756
Mont Blanc Capital Corporation ††^		0.28			06/07/2011		24,000,000		23,992,800
Mont Blanc Capital Corporation ††^		0.29			06/09/2011		18,000,000		17,994,300
Mont Blanc Capital Corporation ††^		0.29			06/14/2011		29,000,000		28,989,608
Newport Funding Corporation ††^		0.26			07/06/2011		40,000,000		39,980,500
Newport Funding Corporation ††^		0.29			06/21/2011		14,000,000		13,994,167
Nieuw Amsterdam Receivables Corporation ††^		0.10			05/03/2011		2,000,000		1,999,983
Nieuw Amsterdam Receivables Corporation ††^		0.23			05/09/2011		15,000,000		14,999,125
Nieuw Amsterdam Receivables Corporation ††^		0.25			07/12/2011		51,000,000		50,974,351
Nieuw Amsterdam Receivables Corporation ††^		0.25			07/08/2011		30,000,000		29,985,483
Nieuw Amsterdam Receivables Corporation ††^		0.26			07/07/2011		24,000,000		23,988,120
Nieuw Amsterdam Receivables Corporation ††^		0.28			06/06/2011		23,000,000		22,993,292
Northern Pines Funding LLC ††^		0.29			07/15/2011		156,000,000		155,903,800
Northern Pines Funding LLC ††^		0.29			08/08/2011		49,000,000		48,959,983
Northern Pines Funding LLC ††^		0.31			08/23/2011		101,000,000		100,901,721
Regency Markets #1 LLC ††^		0.11			05/06/2011		67,000,000		66,998,809
Regency Markets #1 LLC ††^		0.17			05/12/2011		147,615,000		147,606,799
Rhein-Main Security Limited ††^		0.33			05/16/2011		112,000,000		111,980,073
Rhein-Main Security Limited ††^		0.34			05/27/2011		45,000,000		44,988,438
Rhein-Main Security Limited ††^		0.47			07/11/2011		36,000,000		35,966,400
Rheingold Securitization ††^		0.34			05/25/2011		45,000,000		44,989,363
Rheingold Securitization ††^		0.46			05/16/2011		10,000,000		9,997,978
Rheingold Securitization ††^		0.47			07/11/2011		57,000,000		56,946,800
Rheingold Securitization ††^		0.47			07/15/2011		36,075,000		36,039,406
Romulus Funding Corporation ††^		0.30			05/25/2011		57,000,000		56,987,983
Scaldis Capital LLC ††		0.00			05/02/2011		25,500,000		25,500,000
Scaldis Capital LLC ††^		0.13			05/04/2011		110,000,000		109,998,472
Scaldis Capital LLC ††^		0.15			05/05/2011		106,000,000		105,997,792
Scaldis Capital LLC ††^		0.19			05/09/2011		126,400,000		126,394,101
Scaldis Capital LLC ††^		0.19			05/10/2011		116,000,000		115,993,813
Scaldis Capital LLC ††^		0.19			05/24/2011		79,000,000		78,989,862
Scaldis Capital LLC ††^		0.19			05/13/2011		83,000,000		82,994,167
Solitaire Funding LLC ††^		0.23			05/09/2011		30,000,000		29,998,250
Solitaire Funding LLC ††^		0.24			07/19/2011		33,500,000		33,481,854
Solitaire Funding LLC ††^		0.24			07/21/2011		81,000,000		80,955,000
Solitaire Funding LLC ††^		0.24			07/27/2011		11,000,000		10,993,431
Solitaire Funding LLC ††^		0.25			07/14/2011		22,000,000		21,988,401
Solitaire Funding LLC ††^		0.26			05/16/2011		36,000,000		35,995,800
Solitaire Funding LLC ††^		0.27			05/17/2011		25,000,000		24,996,771
Solitaire Funding LLC ††^		0.28			06/01/2011		14,600,000		14,596,350
Solitaire Funding LLC ††^		0.29			06/10/2011		146,000,000		145,952,550
Solitaire Funding LLC ††^		0.29			06/13/2011		139,000,000		138,951,350
Solitaire Funding LLC ††^		0.29			06/17/2011		110,000,000		109,957,833


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Asset-Backed Commercial Paper (continued)
Starbird Funding Corporation ††^		0.16	%		05/09/2011	$	41,000,000		40,998,326
Starbird Funding Corporation ††^		0.23			07/21/2011		12,000,000		11,993,600
Starbird Funding Corporation ††^		0.28			05/27/2011		59,000,000		58,987,709
Straight-A Funding LLC ††^		0.20			05/10/2011		105,000,000		104,994,167
Surrey Funding Corporation ††^		0.24			07/07/2011		42,000,000		41,980,750
Sydney Capital Corporation ††^		0.34			07/14/2011		18,000,000		17,987,225
Sydney Capital Corporation ††^		0.34			07/18/2011		44,400,000		44,366,762
Sydney Capital Corporation ††^		0.37			06/10/2011		16,000,000		15,993,240
Sydney Capital Corporation ††^		0.37			06/16/2011		78,000,000		77,961,975
Sydney Capital Corporation ††^		0.38			06/08/2011		9,000,000		8,996,300
Sydney Capital Corporation ††^		0.38			06/14/2011		14,000,000		13,993,311
Tasman Funding Incorporated ††^		0.17			05/04/2011		11,000,000		10,999,798
Tasman Funding Incorporated ††^		0.27			06/23/2011		49,000,000		48,980,182
Tasman Funding Incorporated ††^		0.29			05/16/2011		33,000,000		32,995,765
Tasman Funding Incorporated ††^		0.29			05/17/2011		41,000,000		40,994,363
Tasman Funding Incorporated ††^		0.29			05/18/2011		22,000,000		21,996,773
Tasman Funding Incorporated ††^		0.31			06/14/2011		83,183,000		83,150,967
Tasman Funding Incorporated ††^		0.31			05/24/2011		16,057,000		16,053,664
Thames Asset Global Securitization ††^		0.11			05/06/2011		56,000,000		55,998,942
Thames Asset Global Securitization ††^		0.26			07/08/2011		35,746,000		35,728,038
Thames Asset Global Securitization ††^		0.47			06/07/2011		39,000,000		38,980,500
Versailles Commercial Paper LLC ††^		0.36			07/05/2011		89,000,000		88,941,458
Versailles Commercial Paper LLC ††^		0.36			07/08/2011		125,000,000		124,913,924
Windmill Funding Corporation ††^		0.27			05/24/2011		50,000,000		49,991,139

									12,294,163,533


Financial Company Commerical Paper: 15.39%
ABN AMRO Funding USA LLC ††^		0.23			06/28/2011		25,000,000		24,990,500
Alaska Housing Finance Corporation^		0.28			05/17/2011		7,100,000		7,099,053
ANZ National Limited †† ±		0.40			09/13/2011		120,000,000		120,000,000
ASB Finance Limited †† ±		0.40			12/05/2011		107,000,000		107,000,000
ASB Finance Limited †† ±		0.40			12/02/2011		108,000,000		108,000,000
ASB Finance Limited †† ±		0.41			09/02/2011		136,000,000		136,000,000
Axis Bank Limited^		0.41			07/25/2011		84,000,000		83,917,680
Banco Bilbao Vizcaya Argentaria (London) ††^		0.23			05/09/2011		86,000,000		85,994,983
BGL BNP Paribas SA^		0.34			06/16/2011		33,000,000		32,985,563
BGL BNP Paribas SA^		0.39			07/07/2011		173,000,000		172,873,133
BNP Paribas Finance Incorporated^		0.33			06/03/2011		106,000,000		105,967,022
BNP Paribas Finance Incorporated^		0.33			06/09/2011		66,000,000		65,975,617
BNP Paribas Finance Incorporated^		0.38			07/08/2011		66,000,000		65,952,095
BNP Paribas Finance Incorporated^		0.38			07/18/2011		41,000,000		40,965,799
BNZ International Funding Limited †† ±		0.38			10/12/2011		44,000,000		44,000,988
BNZ International Funding Limited †† ±		0.39			10/07/2011		10,000,000		9,999,986
BNZ International Funding Limited †† ±		0.40			01/06/2012		69,000,000		69,000,000
BNZ International Funding Limited †† ±		0.41			09/01/2011		104,000,000		104,001,433
BPCE SA ††^		0.20			05/04/2011		126,000,000		125,997,200
BPCE SA ††^		0.37			06/08/2011		131,000,000		130,947,491
BPCE SA ††^		0.38			06/16/2011		76,000,000		75,962,000
Danske Corporation ††^		0.27			06/01/2011		109,300,000		109,273,586
Danske Corporation ††^		0.31			06/08/2011		80,000,000		79,972,867
Danske Corporation ††^		0.35			05/31/2011		59,000,000		58,982,415
Erste Finance LLC ††^		0.09			05/04/2011		479,000,000		478,995,476
Fortis Funding LLC ††^		0.34			06/15/2011		33,000,000		32,985,883
ICICI Bank Limited^		0.64			09/16/2011		135,000,000		134,666,063
ING US Funding LLC^		0.31			06/29/2011		105,450,000		105,395,635
Macquarie Bank Limited ††^		0.35			06/15/2011		51,000,000		50,976,937
Macquarie Bank Limited ††^		0.36			06/13/2011		142,000,000		141,937,047
Macquarie Bank Limited ††^		0.40			06/29/2011		229,000,000		228,848,733
Macquarie Bank Limited ††^		0.40			07/05/2011		78,000,000		77,943,147
Macquarie Bank Limited ††^		0.40			07/06/2011		58,000,000		57,957,064
Macquarie Bank Limited ††^		0.40			07/07/2011		62,000,000		61,953,397
Macquarie Bank Limited ††^		0.40			07/08/2011		62,000,000		61,952,691


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Financial Company Commerical Paper (continued)
Macquarie Bank Limited ††^		0.40	%		07/11/2011	$	60,000,000		59,952,167
Macquarie Bank Limited ††^		0.40			07/12/2011		60,000,000		59,951,483
Mizuho Funding LLC ††^		0.12			05/06/2011		105,000,000		104,997,900
Natexis Banques Populaires^		0.34			07/01/2011		111,600,000		111,534,900
Natexis Banques Populaires^		0.37			06/10/2011		119,000,000		118,949,723
National Rural Utilities Cooperative Finance Corporation^		0.21			05/10/2011		43,000,000		42,997,516
Nationwide Building Society ††^		0.19			05/19/2011		27,300,000		27,297,293
Nationwide Building Society ††^		0.28			05/11/2011		37,000,000		36,996,855
Nationwide Building Society ††^		0.30			05/16/2011		50,000,000		49,993,389
Nationwide Building Society ††^		0.32			06/27/2011		115,000,000		114,940,967
Nationwide Building Society ††^		0.36			07/05/2011		137,000,000		136,909,884
Nationwide Building Society ††^		0.36			07/06/2011		54,000,000		53,963,925
Nationwide Building Society ††^		0.36			07/07/2011		54,000,000		53,963,370
PB Financing Incorporated ††^		0.29			05/04/2011		14,000,000		13,999,557
PB Financing Incorporated ††^		0.47			05/11/2011		35,000,000		34,995,013
PB Financing Incorporated ††^		0.49			07/20/2011		50,000,000		49,945,139
PB Financing Incorporated ††^		0.49			07/26/2011		52,000,000		51,938,611
PB Financing Incorporated ††^		0.49			07/29/2011		69,000,000		68,915,667
PB Financing Incorporated ††^		0.49			06/24/2011		24,000,000		23,981,980
PB Financing Incorporated ††^		0.49			06/27/2011		60,000,000		59,952,400
PB Financing Incorporated ††^		0.51			07/07/2011		34,000,000		33,967,587
PB Financing Incorporated ††^		0.51			07/11/2011		69,000,000		68,930,233
PB Financing Incorporated ††^		0.51			05/19/2011		38,000,000		37,989,772
PB Financing Incorporated ††^		0.52			05/23/2011		50,000,000		49,983,375
PB Financing Incorporated ††^		0.53			05/26/2011		50,000,000		49,981,000
PB Financing Incorporated ††^		0.53			05/31/2011		56,000,000		55,974,287
PB Financing Incorporated ††^		0.54			06/03/2011		56,000,000		55,971,627
PB Financing Incorporated ††^		0.54			06/07/2011		52,000,000		51,970,360
PB Financing Incorporated ††^		0.54			06/09/2011		27,000,000		26,983,755
PB Financing Incorporated ††^		0.54			06/10/2011		54,000,000		53,966,655
PB Financing Incorporated ††^		0.55			06/15/2011		55,000,000		54,961,683
Prudential plc ††^		0.32			06/02/2011		30,450,000		30,441,085
Prudential plc ††^		0.32			06/08/2011		16,000,000		15,994,409
Prudential plc ††^		0.33			06/14/2011		49,000,000		48,980,101
Prudential plc ††^		0.34			07/05/2011		72,000,000		71,955,200
Prudential plc ††^		0.34			07/06/2011		61,000,000		60,961,451
Prudential plc ††^		0.36			07/13/2011		60,000,000		59,955,600
Prudential plc ††^		0.37			07/18/2011		60,000,000		59,951,233
Prudential plc ††^		0.37			07/21/2011		119,000,000		118,899,511
RBS Holdings USA Incorporated ††^		0.27			05/11/2011		142,000,000		141,988,285
RBS Holdings USA Incorporated ††^		0.29			05/24/2011		121,000,000		120,976,338
Skandinaviska Enslilda Banken AB ††^		0.33			06/02/2011		95,000,000		94,971,368
Skandinaviska Enskilda Banken AB ††^		0.32			05/23/2011		99,000,000		98,979,788
Skandinaviska Enskilda Banken AB ††^		0.29			05/13/2011		50,000,000		49,994,806
Skandinaviska Enskilda Banken AB ††^		0.33			06/01/2011		42,000,000		41,987,750
Societe Generale^		0.23			05/06/2011		100,000,000		99,996,222
Standard Chartered Bank ††^		0.29			07/11/2011		140,000,000		139,918,333
Suncorp-Metway Limited ††^		0.30			05/05/2011		70,000,000		69,997,083
Suncorp-Metway Limited ††^		0.45			05/17/2011		20,000,000		19,995,750
Suncorp-Metway Limited ††^		0.49			06/08/2011		112,000,000		111,941,293
Suncorp-Metway Limited ††^		0.49			06/09/2011		51,000,000		50,972,545
Swedbank AB^		0.26			07/28/2011		45,000,000		44,970,638
Swedbank AB^		0.26			07/29/2011		88,000,000		87,941,920
Swedbank AB^		0.26			08/03/2011		44,000,000		43,969,310
Swedbank AB^		0.26			08/04/2011		44,000,000		43,968,980
Swedbank AB^		0.36			05/27/2011		112,000,000		111,970,056
Swedbank AB^		0.36			05/31/2011		112,000,000		111,965,264
Westpac Securities NZ Limited ††^		0.28			05/31/2011		69,000,000		68,983,325
Westpac Securities NZ Limited †† ±		0.37			10/13/2011		110,000,000		110,000,000
Westpac Securities NZ Limited †† ±		0.38			08/19/2011		114,000,000		114,000,000

									7,462,957,201


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Other Commercial Paper: 2.95%
ACTS Retirement Life Communities Incorporated^		0.29	%		06/16/2011	$	5,000,000		4,998,125
Caisse d’Amortissement de la Dette Sociale ††^		0.22			05/10/2011		124,000,000		123,992,284
Caisse d’Amortissement de la Dette Sociale ††^		0.25			05/16/2011		35,000,000		34,996,189
Caisse d’Amortissement de la Dette Sociale ††^		0.25			05/17/2011		70,000,000		69,991,833
Caisse d’Amortissement de la Dette Sociale ††^		0.27			06/06/2011		432,000,000		431,882,400
Caisse d’Amortissement de la Dette Sociale ††^		0.27			06/09/2011		53,000,000		52,984,336
EDF SA ††		0.00			05/02/2011		96,900,000		96,900,000
European Investment Bank^		0.24			06/24/2011		82,000,000		81,969,819
European Investment Bank^		0.25			06/29/2011		167,000,000		166,930,046
GDF Suez ††		0.00			05/02/2011		21,000,000		21,000,000
GDF Suez ††^		0.23			05/10/2011		67,000,000		66,995,682
GDF Suez ††^		0.27			05/23/2011		28,000,000		27,995,100
GDF Suez ††^		0.28			05/24/2011		15,000,000		14,997,250
GDF Suez ††^		0.28			06/09/2011		13,000,000		12,996,021
GDF Suez ††^		0.28			06/20/2011		1,282,000		1,281,494
GDF Suez ††^		0.29			06/13/2011		42,000,000		41,985,300
GDF Suez ††^		0.29			05/31/2011		64,000,000		63,984,018
Statens Bostadsfin ††^		0.17			05/03/2011		16,000,000		15,999,778
Statens Bostadsfin ††^		0.25			05/04/2011		20,000,000		19,999,444
Statens Bostadsfin ††^		0.38			06/07/2011		44,000,000		43,982,400
Statens Bostadsfin ††^		0.38			06/10/2011		34,000,000		33,985,267

									1,429,846,786

Total Commercial Paper (Cost $21,186,967,520)									21,186,967,520


Government Agency Debt: 0.24%
FHLMC ±		0.16			02/02/2012		115,000,000		114,930,005

Total Government Agency Debt (Cost $114,930,005)									114,930,005


Municipal Bonds and Notes: 14.25%

Alabama: 0.64%

Variable Rate Demand Notes §: 0.64%
Lower Alabama Gas District Supply Revenue Series A (Utilities Revenue, Societe Generale LOC)		0.27			11/01/2027		85,500,000		85,500,000
Mobile AL Infirmary Health System Special Care Facilities Series A (Hospital Revenue)		0.25			02/01/2040		23,700,000		23,700,000
Southeast Alabama Gas District Alabama Supply Project Series 2007-A (Utilities Revenue)		0.24			08/01/2027		202,000,000		202,000,000

									311,200,000


Arizona: 0.01%

Variable Rate Demand Note §: 0.01%
Glendale AZ IDA (IDR, JPMorgan Chase Bank LOC, FNMA Insured)		0.26			07/01/2035		6,895,000		6,895,000


California: 3.16%

Other Municipal Debt: 0.66%
City of San Francisco CA (Miscellaneous Revenue)		0.27			07/11/2011		12,000,000		12,000,000
City of San Francisco CA (Miscellaneous Revenue)		0.30			06/08/2011		20,000,000		20,000,000
City of San Francisco CA (Miscellaneous Revenue)		0.34			06/08/2011		6,000,000		6,000,000
City of San Francisco CA (Miscellaneous Revenue)		0.35			06/02/2011		30,000,000		30,000,000
City of San Jose CA (Miscellaneous Revenue)		0.22			05/03/2011		61,000,000		61,000,000
City of San Jose CA (Miscellaneous Revenue)		0.25			05/13/2011		36,422,000		36,422,000
City of San Jose CA (Miscellaneous Revenue)		0.25			07/14/2011		17,578,000		17,578,000
City of San Jose CA (Miscellaneous Revenue)		0.25			07/14/2011		22,211,000		22,211,000
City of San Jose CA International Airport (Airport Revenue)		0.24			04/29/2011		69,000,000		69,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Other Municipal Debt (continued)
Los Angeles CA Department of Airports (Airport Revenue)		0.00	%		05/02/2011	$	7,663,000		7,663,000
Los Angeles CA Department of Airports (Airport Revenue)		0.31			05/09/2011		18,000,000		18,000,000
San Joaquin County CA COP (GO - Local)		0.30			06/02/2011		16,000,000		16,000,000
San Jose CA International Airport Taxicab (Airport Revenue)		0.25			05/13/2011		4,048,000		4,048,000

									319,922,000

Variable Rate Demand Notes §: 2.50%
ABAG Finance Authority for Nonprofit Corporation CA Marin Country Day School (Education Revenue, U.S. Bank NA LOC)		0.30			07/01/2037		18,175,000		18,175,000
Big Bear Lake CA Southwest Gas Corporation Project Series A (Utilities Revenue)		0.28			12/01/2028		4,170,000		4,170,000
California Educational Facilities Authority (Education Revenue, Bank of America Corporation LOC, NATL-RE Insured)		0.30			10/01/2043		3,940,000		3,940,000
California GO Series B (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		0.23			05/01/2040		44,000,000		44,000,000
California HFA Program Series A (Housing Revenue, FNMA LOC)		0.24			08/01/2036		10,500,000		10,500,000
California HFA Revenue Home Mortgage Series M (Housing Revenue, FNMA LOC)		0.25			08/01/2034		16,600,000		16,600,000
California HFFA Catholic Healthcare Series L (Health Revenue)		0.24			07/01/2033		9,000,000		9,000,000
California HFFA Catholic West Series H (Health Revenue, Bank of America NA LOC)		0.24			07/01/2035		40,700,000		40,700,000
California Housing Finance Agency Series B (Housing Revenue, FNMA LOC)		0.21			08/01/2036		8,015,000		8,015,000
California Infrastructure & Economic Development Bank California Academy Series A (Miscellaneous Revenue, U.S. Bank NA LOC)		0.22			09/01/2038		38,005,000		38,005,000
California Infrastructure & Economic Development Bank Rand Corporation Series B (Miscellaneous Revenue, Bank of America NA LOC)		0.25			04/01/2042		27,500,000		27,500,000
California PCFA Pacific Gas & Electric Series C (IDR, JPMorgan Chase Bank LOC)		0.26			11/01/2026		21,900,000		21,900,000
California State Economic Recovery Revenue Series C-5 (GO - State, Bank of America NA LOC)		0.21			07/01/2023		70,965,000		70,965,000
California State Series A Subseries C-2 (GO - State)		0.24			05/01/2033		8,000,000		8,000,000
California State Series B Subseries B1 (GO - State, Bank of America NA LOC)		0.24			05/01/2040		40,000,000		40,000,000
California Statewide CDA Rady Children’s Hospital Series A (Hospital Revenue, U.S. Bank NA LOC)		0.22			08/15/2047		30,000,000		30,000,000
City of Newport Beach CA Series E (Health Revenue)		0.24			12/01/2040		35,000,000		35,000,000
East Bay CA Municipal Wastewater Systems Series A (Water & Sewer Revenue)		0.21			06/01/2038		53,010,000		53,010,000
East Bay CA Municipal Wastewater Systems Series B (Water & Sewer Revenue)		0.19			06/01/2026		54,125,000		54,125,000
East Bay CA Municipal Wastewater Systems Series C (Water & Sewer Revenue)		0.21			06/01/2027		48,610,000		48,610,000
El Dorado CA Irrigation District & El Dorado Water Agency Series A (Lease Revenue, CitiBank NA LOC)		0.25			03/01/2036		31,595,000		31,595,000
Irvine CA Improvement Board ACT 1915 Assessment District #85-7 Series A (GO - Local)		0.45			09/02/2032		15,677,000		15,677,000
Loma Linda CA Loma Linda University Series B (Education Revenue)		0.26			12/01/2037		12,000,000		12,000,000
Los Angeles CA Wastewater Systems Sub-Series F-1 (Water & Sewer Revenue)		0.24			06/01/2028		22,000,000		22,000,000
Los Angeles CA Multiple Family (Housing Revenue, FNMA Insured)		0.24			03/15/2034		32,615,000		32,615,000
Los Angeles CA Power System Subseries A5 (Utilities Revenue)		0.22			07/01/2035		29,000,000		29,000,000
Los Angeles CA Wastewater Systems Sub-Series F-2 (Water & Sewer Revenue)		0.24			06/01/2032		20,000,000		20,000,000
Metropolitan Water District of Southern California (Water & Sewer Revenue)		0.01			07/01/2035		13,100,000		13,100,000
Metropolitan Water District of Southern California (Water & Sewer Revenue)		0.25			07/01/2027		22,000,000		22,000,000
Metropolitan Water District of Southern California (Water & Sewer Revenue)		0.30			07/01/2035		14,000,000		14,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Newport Beach CA Hoag Memorial Hospital Series D (Health Revenue)		0.22	%		12/01/2040	$	35,000,000		35,000,000
Newport Beach CA Hoag Memorial Hospital Series F (Health Revenue)		0.24			12/01/2040		31,400,000		31,400,000
Sacramento County CA Musical Theatre Project Series 2002 (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		0.22			07/01/2022		60,000,000		60,000,000
Sacramento County CA Series B (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		0.22			07/01/2020		65,000,000		65,000,000
San Diego County CA Regional Transportation Community Limited Tax Series A (Tax Revenue)		0.25			04/01/2038		44,695,000		44,695,000
San Diego County CA Regional Transportation Community Limited Tax Series B (Tax Revenue)		0.24			04/01/2038		76,200,000		76,200,000
San Francisco CA City & County Finance Corporation Moscone Center Project (Lease Revenue, Bank of America NA LOC)		0.25			04/01/2030		17,730,000		17,730,000
San Francisco CA City & County Redevelopment Agency (Lease Revenue) ††		0.26			11/01/2041		4,000,000		4,000,000
San Jose CA Financing Authority Taxable Land Series F (Lease Revenue)		0.20			06/01/2034		10,000,000		10,000,000
Tustin CA USD Special Tax Community Facilities District # 07-1 (Tax Revenue)		0.24			09/01/2050		53,800,000		53,800,000
Whittier CA Whittier College Series 2008 (Education Revenue, Bank of America NA LOC)		0.27			12/01/2038		22,395,000		22,395,000

									1,214,422,000


Colorado: 0.85%

Variable Rate Demand Notes §: 0.85%
Colorado HFA Taxable Multiple Family Project B 2 (Housing Revenue, FNMA Insured)		0.21			05/01/2050		81,735,000		81,735,000
Colorado Housing & Finance Authority (Housing Revenue)		0.27			11/01/2036		25,445,000		25,445,000
Colorado Housing & Finance Authority Class I Series B 1 (Housing Revenue, GO of Authority Insured)		0.21			05/01/2038		25,280,000		25,280,000
Colorado Housing & Finance Authority Class I-B1 (Housing Revenue)		0.27			10/01/2038		9,657,500		9,657,500
Colorado Housing and Finance Authority Series A1 (Housing Revenue)		0.23			10/01/2033		8,805,000		8,805,000
Colorado Housing and Finance Authority Series A1 (Housing Revenue)		0.23			11/01/2036		2,155,000		2,155,000
Colorado Springs CO Utility Improvement Bond Series A (Utilities Revenue)		0.26			11/01/2038		21,375,000		21,375,000
Denver CO Public Schools Series A-4 (Education Revenue)		0.01			12/15/2037		14,845,000		14,845,000
Denver CO Public Schools Series A-4 (Education Revenue)		0.16			12/15/2037		15,300,000		15,300,000
Denver CO Public Schools Series A-4 (Education Revenue)		0.17			12/15/2037		46,000,000		46,000,000
JPMorgan Chase PUTTER/DRIVER Trust (Tax Revenue) ††		0.27			06/27/2011		45,500,000		45,500,000
JPMorgan Chase PUTTER/DRIVER Trust (Tax Revenue) ††		0.27			06/27/2011		55,000,000		55,000,000
Southern Ute Indian Tribe of Southern Ute Indian Reservation (Miscellaneous Revenue) ††		0.25			04/01/2040		62,735,000		62,735,000

									413,832,500


Delaware: 0.11%

Variable Rate Demand Notes §: 0.11%
Delaware State Economic Development Agency Clean Power Project Series 1997-C (Energy Revenue)		0.25			08/01/2029		17,000,000		17,000,000
Delaware State Economic Development Agency Clean Power Project Series 1997-D (Resource Recovery Revenue)		0.28			08/01/2029		16,700,000		16,700,000
Delaware State Economic Development Authority Series B (Resource Recovery Revenue)		0.28			08/01/2029		17,600,000		17,600,000

									51,300,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
District of Columbia: 0.20%

Other Municipal Debt: 0.04%
District of Columbia Water & Sewer Authority (Water & Sewer Revenue)		0.30	%		06/27/2011	$	20,200,000		20,200,000

Variable Rate Demand Notes §: 0.16%
District of Columbia Ballpark Series B2 (Miscellaneous Revenue, Bank of America LOC)		0.29			02/01/2036		10,180,000		10,180,000
District of Columbia Georgetown University Series B2 (Education Revenue, JPMorgan Chase Bank LOC)		0.24			04/01/2041		9,645,000		9,645,000
District of Columbia The American University Series A (Education Revenue)		0.25			04/01/2038		28,000,000		28,000,000
Metropolitan Washington DC Airports Authority Subseries D-1 (Airport Revenue)		0.25			10/01/2039		16,715,000		16,715,000
Metropolitan Washington DC Airports Authority Subseries D-2 (Airport Revenue)		0.27			10/01/2039		13,000,000		13,000,000

									77,540,000

Florida: 0.33%

Other Municipal Debt: 0.09%
Hillsborough County FL (Miscellaneous Revenue)		0.30			05/13/2011		42,110,000		42,110,000

Variable Rate Demand Notes §: 0.24%
Florida Municipal Power Agency All Requirements Supply Series C (Energy Revenue)		0.27			10/01/2035		18,650,000		18,650,000
Lee Memorial Health System Series B (HCFR, Bank of America LOC) (Health Revenue)		0.26			04/01/2033		50,460,000		50,460,000
Orlando FL Utilities Commision (Utilities Revenue)		0.21			10/01/2033		47,000,000		47,000,000

									116,110,000

Georgia: 0.05%

Variable Rate Demand Note §: 0.05%
Main Street Natural Gas Incorporated Gas Project Series A (Utilities Revenue)		0.26			08/01/2040		25,300,000		25,300,000

Illinois: 0.40%

Other Municipal Debt: 0.02%
City of Chicago Municipal Interest Bearing Commercial Paper (Water & Sewer Revenue, BHAC-CR AMBAC Insured)		0.40			05/19/2011		10,513,000		10,513,000

Variable Rate Demand Notes §: 0.38%
Chicago IL Midway Airport Series A-2 (Airport Revenue, JPMorgan Chase Bank LOC)		0.28			01/01/2025		5,500,000		5,500,000
Chicago IL Midway Airport Series C (Airport Revenue, Morgan Stanley Bank LOC)		0.29			01/01/2035		10,535,000		10,535,000
Cook County IL GO Series D-2 (GO - Local)		0.21			11/01/2030		28,000,000		28,000,000
Cook County IL Series D-1 (GO - Local)		0.21			11/01/2030		19,000,000		19,000,000
Illinois Finance Authority (Education Revenue)		0.21			07/01/2038		47,577,000		47,577,000
Illinois Finance Authority Resurrection Health Project Series 2005-B (Health Revenue)		0.27			05/15/2035		14,785,000		14,785,000
Illinois International Port District (Transportation Revenue, LaSalle National Bank NA LOC)		0.26			01/01/2023		8,000,000		8,000,000
Illinois State Toll Highway Authority (Transportation Revenue)		0.20			07/01/2030		8,000,000		8,000,000
Illinois State Toll Highway Authority (Transportation Revenue)		0.23			07/01/2030		16,000,000		16,000,000
Illinois State Toll Highway Authority (Transportation Revenue)		0.25			07/01/2030		25,000,000		25,000,000

									182,397,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Indiana: 0.21%

Variable Rate Demand Notes §: 0.21%
Indiana Financing Authority (Hospital Revenue)		0.24	%		03/01/2033	$	13,000,000		13,000,000
Indiana State Financing Authority (Resource Recovery Revenue, Bank of America NA LOC)		0.27			12/01/2039		54,125,000		54,125,000
Richmond IN Reid Hospital & Health Care Services Incorporated (Hospital Revenue)		0.28			01/01/2040		35,630,000		35,630,000

									102,755,000

Kentucky: 0.11%

Variable Rate Demand Notes §: 0.11%
Kentucky Municipal Power Agency (Energy Revenue, Assured Guaranty Insured) ††		0.26			09/01/2037		20,000,000		20,000,000
Louisville Regional Airport Authority (Airport Revenue)		0.24			01/01/2029		32,800,000		32,800,000

									52,800,000

Louisiana: 0.35%

Variable Rate Demand Notes §: 0.35%
East Baton Rouge Parish LA Industrial Development Revenue Series B (IDR)		0.11			12/01/2041		74,250,000		74,250,000
Louisiana Public Facilities Authority (Health Revenue, JPMorgan Chase Bank LOC)		0.25			08/01/2023		11,915,000		11,915,000
Louisiana Stadium & Exposition PFOTER (Miscellaneous Revenue) ††		0.41			07/01/2036		23,690,000		23,690,000
Parish of St. James LA Series A-1 (Energy Revenue)		0.28			11/01/2040		39,200,000		39,200,000
Parish of St. James LA Series B-1 (Energy Revenue)		0.28			11/01/2040		18,700,000		18,700,000

									167,755,000

Maryland: 0.18%

Other Municipal Debt: 0.02%
Montgomery County MD (Miscellaneous Revenue)		0.28			06/06/2011		3,000,000		3,000,000
Montgomery County MD (Miscellaneous Revenue)		0.28			05/04/2011		4,000,000		4,000,000
Montgomery County MD (Miscellaneous Revenue)		0.28			06/06/2011		3,000,000		3,000,000

									10,000,000

Variable Rate Demand Notes §: 0.16%
Baltimore MD Package Systems Facilities (Transportation Revenue)		0.20			07/01/2032		46,545,000		46,545,000
Howard County MD MFHR (Housing Revenue, FNMA Insured)		0.27			07/15/2033		8,910,000		8,910,000
Maryland CDA Department of Housing & Community Development Series 2007-J (Housing Revenue)		0.27			09/01/2031		13,380,000		13,380,000
Maryland Health & HEFAR Suburban Hospital (Hospital Revenue, PNC Bank NA LOC)		0.26			07/01/2029		8,100,000		8,100,000

									76,935,000

Massachusetts: 0.47%

Variable Rate Demand Notes §: 0.47%
Massachusetts State Department of Transportation Metro Highway Systems Contract Assistance Series A-4 (Transportation Revenue, GO of Commonwealth Insured)		0.21			01/01/2039		17,345,000		17,345,000
Massachusetts State Department of Transportation Metro Highway Systems Contract Assistance Series A-5 (GO - State)		0.21			01/01/2039		22,600,000		22,600,000
Massachusetts State Department of Transportation Series A6 (Transportation Revenue)		0.25			01/01/2029		15,000,000		15,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Massachusetts State HEFA (Health Revenue, JPMorgan Chase Bank LOC)		0.23	%		10/01/2049	$	5,000,000		5,000,000
Massachusetts State HEFA (Education Revenue)		0.27			10/01/2034		41,590,000		41,590,000
Massachusetts State HEFA Series N-1 (Education Revenue)		0.21			08/15/2040		15,900,000		15,900,000
Massachusetts State HEFA Series N-3 (Health Revenue)		0.24			10/01/2038		49,000,000		49,000,000
Massachusetts State HEFA Stonehill College Issue Series K (Education Revenue, Bank of America Corporation LOC)		0.23			07/01/2037		27,000,000		27,001,087
Massachusetts Water Resources Authority Series E (Water & Sewer Revenue)		0.25			08/01/2037		32,810,000		32,810,000

									226,246,087

Michigan: 0.48%

Variable Rate Demand Notes §: 0.48%
Michigan Finance Authority Series A (Miscellaneous Revenue, Bank of America NA LOC)		0.25			09/01/2050		50,000,000		50,000,000
Michigan Finance Authority Series B (Miscellaneous Revenue, PNC Bank NA LOC)		0.25			09/01/2050		25,000,000		25,000,000
Michigan Finance Authority Series C (Miscellaneous Revenue, Bank of Montreal LOC)		0.25			09/01/2050		22,000,000		22,000,000
Michigan HEFAR (Education Revenue)		0.26			09/01/2037		20,000,000		20,000,000
Michigan HEFAR Calvin College Project Series 2007A (Education Revenue, JPMorgan Chase Bank LOC)		0.26			09/01/2037		15,000,000		15,000,000
Michigan State Housing Development Authority Series A (Housing Revenue, GO of Authority Insured)		0.28			10/01/2037		31,160,000		31,160,000
Wayne County Industrial Development Authority (IDR, Bank of America NA LOC)		0.37			05/01/2020		8,000,000		8,000,000
Wayne County Michigan Airport Authority Series E-1 (Airport Revenue, JPMorgan Chase Bank LOC)		0.28			12/01/2028		25,000,000		25,000,000
Wayne County Michigan Airport Authority Series F (Airport Revenue, JPMorgan Chase Bank LOC)		0.26			12/01/2033		37,320,000		37,320,000

									233,480,000

Minnesota: 0.02%

Variable Rate Demand Notes §: 0.02%
Minnesota State HFA Residential Housing Series E (Housing Revenue, GO of Agency Insured)		0.21			07/01/2038		4,560,000		4,560,000
Minnesota State HFA Residential Housing Series T (Housing Revenue, GO of Agency Insured)		0.21			07/01/2048		5,515,000		5,515,000

									10,075,000

Mississippi: 0.19%

Variable Rate Demand Notes §: 0.19%
Jackson County MS PCR Chevron USA Income Project (IDR)		0.20			06/01/2023		23,155,000		23,155,000
Mississippi Business Finance Corporation Chevron USA Incorporated Project Series A (IDR)		0.16			12/01/2030		22,000,000		22,000,000
Mississippi Business Finance Corporation Chevron USA Incorporated Project Series C (IDR)		0.20			12/01/2030		6,650,000		6,650,000
Mississippi State GO Bonds Nissan North America Incorporated Project Series 2003A (Tax Revenue, GO of Commonwealth Insured)		0.20			11/01/2028		430,000		430,000
Mississippi State Taxable Nissan Project B (Tax Revenue)		0.31			11/01/2028		37,995,000		37,995,000

									90,230,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Missouri: 0.14%

Variable Rate Demand Note §: 0.14%
Missouri Development Finance Board Nelson Gallery Foundation (Miscellaneous Revenue)		0.26	%		12/01/2037	$	68,660,000		68,660,000

Nevada: 0.19%

Variable Rate Demand Notes §: 0.19%
Clark County NV Industrial Development (IDR, JPMorgan Chase Bank LOC)		0.32			03/01/2038		29,000,000		29,000,000
Las Vegas NV Economic Development Keep Memory Alive Project (Miscellaneous Revenue, PNC Bank NA LOC)		0.26			05/01/2037		20,300,000		20,300,000
Las Vegas NV Water District (Water & Sewer Revenue)		0.45			06/01/2036		17,670,000		17,670,000
Reno NV Senior Lien Transportation Rail Access Corridor Project Series 2008A (Tax Revenue, Bank of New York LOC)		0.26			06/01/2042		25,900,000		25,900,000

									92,870,000

New Hampshire: 0.05%

Variable Rate Demand Note §: 0.05%
New Hampshire HEFA St. Anselm College Series 2008 (Education Revenue, RBS Citizens NA LOC)		0.25			06/01/2038		25,350,000		25,350,000

New Jersey: 0.69%

Variable Rate Demand Notes §: 0.69%
JPMorgan Chase PUTTER/DRIVER Trust Series 3811 (Tax Revenue) ††		0.27			06/23/2011		47,000,000		47,000,000
JPMorgan Chase PUTTER/DRIVER Trust Series 3871 (Utilities Revenue) ††		0.30			02/01/2015		14,500,000		14,500,000
JPMorgan Chase PUTTER/DRIVER Trust Series 3889 (Utilities Revenue) ††		0.27			06/23/2011		53,000,000		53,000,000
New Jersey Economic Development Authority (IDR)		0.20			11/01/2038		25,200,000		25,200,000
New Jersey Economic Development Authority NUI Corporation Project Series A (Energy Revenue, JPMorgan Chase Bank LOC)		0.27			06/01/2026		16,000,000		16,000,000
New Jersey Economic Development Authority Pivotal Utility Holdings Incorporated Project Series 2007 (Energy Revenue, JPMorgan Chase Bank LOC)		0.27			06/01/2032		24,000,000		24,000,000
New Jersey HFFA Princeton Healthcare System Issue Series 2010A (Hospital Revenue, Bank of America NA LOC)		0.26			07/01/2041		59,500,000		59,500,000
New Jersey State TRAN PUTTER (Miscellaneous Revenue) ††		0.27			06/23/2011		71,000,000		71,000,000
New Jersey State Turnpike Authority Series D (Miscellaneous Revenue, Societe Generale LOC, NATL-RE FGIC Insured)		0.28			01/01/2018		22,000,000		22,000,000

									332,200,000

New York: 1.47%

Other Municipal Debt: 0.20%
Long Island NY Power Authority (Utilities Revenue)		0.26			06/01/2011		51,100,000		51,100,000
New York Metropolitan Transportation Authority (Transportation Revenue)		0.26			06/02/2011		26,000,000		26,000,000
New York Metropolitan Transportation Authority (Transportation Revenue)		0.30			05/03/2011		4,000,000		4,000,000
New York Metropolitan Transportation Authority (Transportation Revenue)		0.30			06/01/2011		8,000,000		8,000,000
New York Metropolitan Transportation Authority (Transportation Revenue)		0.30			06/01/2011		8,000,000		8,000,000

									97,100,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes §: 1.27%
Abraham Joshua Hesehal School Series 2010 (Education Revenue, TD Bank NA LOC)		0.22	%		01/01/2040	$	34,945,000		34,945,000
City of New York NY Series L5 (GO - Local)		0.50			04/01/2035		19,000,000		19,000,000
City of New York NY Subseries H-1 (GO - Local)		0.35			01/01/2036		15,400,000		15,400,000
City of NewYork NY Series J4 (GO - Local)		0.23			08/01/2025		41,800,000		41,800,000
New York PFOTER (Miscellaneous Revenue) ††		0.41			06/15/2053		20,710,000		20,710,000
New York City NY Housing Development Corporation Mortgage Thessalonica Courst A (Housing Revenue, Citibank NA LOC)		0.28			01/01/2036		9,360,000		9,360,000
New York City NY Housing Development Corporation (Housing Revenue, JPMorgan Chase Bank LOC)		0.23			01/01/2016		7,000,000		7,000,000
New York City NY Housing Development Corporation Series H-2-A (Housing Revenue)		0.55			05/01/2013		4,300,000		4,300,000
New York City NY Municipal Water Finance Authority Series AA-2 (Water & Sewer Revenue)		0.35			06/15/2032		41,120,000		41,120,000
New York City NY Municipal Water Finance Authority Series B3 (Water & Sewer Revenue)		0.23			06/15/2025		16,000,000		16,000,000
New York City NY Municipal Water Finance Authority Series C (Water & Sewer Revenue)		0.35			06/15/2033		45,100,000		45,100,000
New York City NY Municipal Water Finance Authority Subseries B-1 (Water & Sewer Revenue)		0.24			06/15/2024		107,400,000		107,400,000
New York City NY Subseries B (GO - Local, TD Bank NA LOC)		0.23			09/01/2027		17,170,000		17,170,000
New York City NY Subseries C-4 (GO - Local, Bank of Tokyo-Mitsubishi UFJ LOC)		0.27			08/01/2020		11,000,000		11,000,000
New York HFA Victory Housing Project Series 2000-A (Housing Revenue, FHLMC Insured)		0.23			11/01/2033		8,000,000		8,000,000
New York Homeowner Mortgage Agency Series 142 (Housing Revenue)		0.35			10/01/2037		11,500,000		11,500,000
New York Metropolitan Transportation Authority ROC RR 11 R-11645 (Transportation Revenue, FSA Insured) ††		0.41			11/15/2025		18,050,000		18,050,000
New York State Housing Finance Agency Affordable Housing 8 East 102 2nd Street (Housing Revenue, Bank of America NA LOC)		0.25			05/01/2044		35,000,000		35,000,000
New York State Dormitory Authority St. John University Series B-1 (Education Revenue, Bank of America NA LOC)		0.25			07/01/2034		19,640,000		19,640,000
New York State Housing Finance Agency (Housing Revenue, FHLMC Insured)		0.23			11/01/2037		10,000,000		10,000,000
New York State Housing Finance Agency (Housing Revenue, Bank of America NA LOC)		0.23			11/01/2044		32,500,000		32,500,000
New York State Housing Finance Agency Series A (Housing Revenue)		0.26			05/01/2029		74,505,000		74,505,000
New York State Housing Finance Agency Victory Housing Series 2004-A (Housing Revenue, FHLMC Insured)		0.23			11/01/2033		2,000,000		2,000,000
New York State Mortgage Agency Homeowner Mortgage Series 132 (Housing Revenue)		0.55			04/01/2037		12,600,000		12,600,000

									614,100,000

Ohio: 0.34%

Variable Rate Demand Notes §: 0.34%
Allen County OH Hospital Facilities Catholic Healthcare Series A (Hospital Revenue)		0.25			10/01/2031		25,540,000		25,540,000
Cleveland-Cuyahoga County OH Port Authority Carnagie 89th Garage & Service Center LLC Project Series 2007 (Health Revenue, JPMorgan Chase Bank LOC)		0.24			01/01/2037		12,245,000		12,245,000
Franklin County OH Presbyterian Series A (Health Revenue, PNC Bank NA LOC)		0.25			07/01/2036		11,450,000		11,450,000
Lake County OH Hospital Facilities Series A (Health Revenue, JPMorgan Chase Bank LOC)		0.26			08/15/2041		10,000,000		10,000,000
Ohio HFA Series B (Housing Revenue)		0.27			09/01/2029		56,435,000		56,435,000
Ohio HFA Series C (Housing Revenue)		0.27			03/01/2038		21,185,000		21,185,000
Ohio State University Hospitals Health System Incorporated Project Series 2008D (Education Revenue, JPMorgan Chase Bank LOC)		0.24			01/15/2035		13,225,000		13,225,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Wood County OH Hospital Facilities Wood County Hospital Association Project Series 2008 (Hospital Revenue, JPMorgan Chase Bank LOC)		0.28	%		03/01/2039	$	14,685,000		14,685,000

									164,765,000

Oklahoma: 0.04%

Variable Rate Demand Note §: 0.04%
Oklahoma Turnpike Authority Series E (Transportation Revenue)		0.26			01/01/2028		21,000,000		21,000,000

Oregon: 0.11%

Variable Rate Demand Notes §: 0.11%
Forest City OR Residential Management Incorporated PFOTER (Miscellaneous Revenue) ††		0.41			07/26/2012		26,075,000		26,075,000
Oregon Housing & Community Services Department Series E (Housing Revenue)		0.27			07/01/2038		16,000,000		16,000,000
Oregon State Department PFOTER (Miscellaneous Revenue) ††		0.31			05/01/2035		12,000,000		12,000,000

									54,075,000

Pennsylvania: 1.15%

Variable Rate Demand Notes §: 1.15%
Beaver County PA IDA FirstEnergy Nuclear Series B (IDR, Citibank NA LOC)		0.24			12/01/2035		16,200,000		16,200,000
Delaware River Port Authority Series B (Transportation Revenue, Bank of America NA LOC)		0.23			01/01/2026		114,000,000		114,000,000
Doylestown PA Hospital Authority Series B (Health Revenue, PNC Bank NA LOC)		0.25			07/01/2037		17,700,000		17,700,000
Geisinger Authority PA Health System Series B (Health Revenue)		0.23			08/01/2022		34,900,000		34,900,000
JPMorgan Chase PUTTER/DRIVER Trust (Education Revenue) ††		0.29			06/30/2011		64,000,000		64,000,000
JPMorgan Chase PUTTER/DRIVER Trust Series 3826 (Miscellaneous Revenue) ††		0.28			06/30/2011		171,000,000		171,000,000
Lancaster County PA Hospital Authority Health System Lancaster General Hospital (Hospital Revenue, Bank of America NA LOC)		0.25			07/01/2041		12,240,000		12,240,000
Pennsylvania Housing Finance Agency Series 85C (Housing Revenue, FNMA LOC, GO of Agency Insured)		0.25			10/01/2035		10,000,000		10,000,000
Pennsylvania State Turnpike Commission Series B-2 (Transportation Revenue, Bank of America NA LOC)		0.24			12/01/2038		45,900,000		45,900,000
Philadelphia PA Authority For Industrial Development of Various Refunding Series B (Miscellaneous Revenue, JPMorgan Chase & Company LOC)		0.26			10/01/2030		15,900,000		15,900,000
Philadelphia PA Authority For Industrial Development New Courtland Elder Services Project Series 2003 (IDR, PNC Bank NA LOC)		0.25			03/01/2027		7,195,000		7,195,000
Philadelphia PA Hospitals and HEFAR The Children’s Hospital of Philadelphia Project Series A (Hospital Revenue)		0.25			07/01/2041		25,500,000		25,500,000
Philadelphia PA Hospitals and HEFAR The Children’s Hospital of Philadelphia Project Series B (Hospital Revenue)		0.25			07/01/2041		25,000,000		25,000,000

									559,535,000

Rhode Island: 0.06%

Variable Rate Demand Note §: 0.06%
Rhode Island HEFA Brown University Issue Series A (Health Revenue)		0.21			05/01/2035		26,550,000		26,550,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
South Dakota: 0.07%

Variable Rate Demand Notes §: 0.07%
South Dakota Housing Development Authority Series C (Housing Revenue, FNMA Insured)		0.25	%		05/01/2037	$	10,800,000		10,800,000
South Dakota State HEFA Avera Health Subseries A1 (Health Revenue, U.S. Bank NA LOC)		0.26			07/01/2038		24,830,000		24,830,000

									35,630,000

Tennessee: 0.33%

Variable Rate Demand Notes §: 0.33%
Johnson City TN Health & Educational Facilities Board (Health Revenue, PNC Bank NA LOC)		0.25			07/01/2033		7,750,000		7,750,000
Johnson City TN Health & Educational Facilities Board (Health Revenue, U.S. Bank NA LOC)		0.27			07/01/2033		9,150,000		9,150,000
Knox County TN Health Educational & Housing Facilities Board (Health Revenue)		0.27			01/01/2033		10,000,000		10,000,000
Metropolitan Government Nashville & Davidson County TN Stewarts Ferry Apartments (Housing Revenue, FHLMC Insured)		0.24			01/01/2034		13,985,000		13,985,000
Montgomery County TN Public Building Authority Pooled Financing Revenue Tennessee County Loan Pool (Miscellaneous Revenue, Bank of America NA LOC)		0.28			07/01/2034		36,000,000		36,000,000
Montgomery County TN Public Building Authority Pooled Financing Revenue Tennessee County Loan Pool (Miscellaneous Revenue, Bank of America NA LOC)		0.28			02/01/2036		16,200,000		16,200,000
Sevier County TN Public Building Authority GO Local Government Public Improvement Series VI-L-1 (Miscellaneous Revenue, Guaranteed Student Loans Insured)		0.27			06/01/2020		29,210,000		29,210,000
Tennessee Municipal Energy Acquisition Corporation (Utilities Revenue)		0.31			12/01/2016		35,775,000		35,775,000

									158,070,000

Texas: 1.37%

Variable Rate Demand Notes §: 1.37%
Austin TX Airport System Series A (Airport Revenue, State Street Bank & Trust Company LOC)		0.26			11/15/2017		13,200,000		13,200,000
Gregg County TX Health Facilities Development Corporation (Hospital Revenue, JPMorgan Chase Bank LOC, Radian Insured)		0.30			10/01/2029		36,210,000		36,210,000
Gulf Coast Waste Disposal Authority Environmental Facilities Revenue Exxon Mobil Project Series A (Miscellaneous Revenue)		0.17			06/01/2030		15,000,000		15,000,000
Harris County TX Cultural Education Facilities Finance Corporation Hermann Health Series A (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		0.27			06/01/2038		23,800,000		23,800,000
Harris County TX Cultural Education Facilities Finance Corporation Hermann Health Series D2 (Health Revenue, JPMorgan Chase & Company LOC)		0.26			06/01/2029		500,000		500,000
Harris County TX Cultural Education Facilities Finance Corporation Hermann Health Series E (Miscellaneous Revenue)		0.27			06/01/2038		25,000,000		25,000,000
Harris County TX Cultural Education Facilities Finance Corporation YMCA Greater Houston Series B (Health Revenue, Allied Irish Bank plc LOC)		0.27			06/01/2038		25,000,000		25,000,000
Harris County TX Health Facilities Development Corporation Baylor Series A2 (Health Revenue, Bank of America NA LOC)		0.24			11/15/2047		43,400,000		43,400,000
Harris County TX Industrial Development Corporation Solid Waste Disposal Deer Park Refining Project Series A (Solid Waste Revenue)		0.23			03/01/2023		43,000,000		43,000,000
Houston TX Utilities System Series 2004B (Water & Sewer Revenue, State Street Bank & Trust Company LOC)		0.23			05/15/2034		20,100,000		20,100,000
JPMorgan Chase PUTTERs/DRIVERs Trust Series 3812 (Miscellaneous Revenue) ††		0.27			08/31/2011		215,700,000		215,700,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Mission TX Economic Development Corporation (Miscellaneous Revenue, Bank of America NA LOC)		0.29	%		04/01/2022	$	9,000,000		9,000,000
North Texas Higher Education Authority (Education Revenue, Bank of America NA LOC, Guaranteed Student Loans Insured)		0.28			12/01/2035		10,000,000		10,000,000
North Texas Tollway Authority (Transportation Revenue, JPMorgan Chase Bank LOC)		0.24			01/01/2049		21,000,000		21,000,000
Pasadena TX Independent School District Series B (Education Revenue)		0.46			02/01/2035		63,095,000		63,095,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series A (Energy Revenue)		0.26			11/01/2040		26,700,000		26,700,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series B (Energy Revenue)		0.25			12/01/2039		15,500,000		15,500,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series B (Energy Revenue)		0.26			12/01/2039		17,200,000		17,200,000
Texas State Taxable Product Development Program Series A (Miscellaneous Revenue)		0.23			06/01/2045		2,100,000		2,100,000
Tyler TX Health Facilities Development Corporation Mother Frances Hospital Series B (Hospital Revenue, Bank of America Corporation LOC)		0.35			07/01/2020		18,000,000		18,000,000
University of Texas System Series A (Education Revenue)		0.18			07/01/2037		20,740,000		20,740,000

									664,245,000

Virginia: 0.05%

Variable Rate Demand Notes §: 0.05%
Harrisonburg VA Redevelopment & Housing Authority (Housing Revenue, Bank of America NA LOC)		0.29			05/01/2026		6,000,000		6,000,000
Norfolk VA Redevelopment & Housing Authority Old Dominion University Project (Housing Revenue)		0.26			08/01/2033		19,810,000		19,810,000

									25,810,000

Washington: 0.15%

Other Municipal Debt: 0.07%
Providence WA Health and Services (Health Revenue)		0.37			05/18/2011		31,000,000		31,000,000

Variable Rate Demand Notes §: 0.08%
JPMorgan Chase PUTTER/DRIVER Trust (Utilities Revenue) ††		0.26			02/01/2040		8,000,000		8,000,000
King County WA Housing Authority Series A (Housing Revenue, FHLMC Insured)		0.22			07/01/2035		960,000		960,000
Port Tacoma WA Various Series B (Port, Airport, & Marina Authority Revenue, Bank of America LOC)		0.24			12/01/2044		30,000,000		30,000,000

									38,960,000

West Virginia: 0.03%

Variable Rate Demand Note §: 0.03%
Cabell County WV University Facilities (Education Revenue, Bank of America NA LOC)		0.27			07/01/2039		16,000,000		16,000,000

Wisconsin: 0.10%

Variable Rate Demand Notes §: 0.10%
Wisconsin Housing & Economic Development Authority (Housing Revenue, GO of Authority Insured)		0.23			05/01/2030		8,320,000		8,320,000
Wisconsin Housing & Economic Development Authority (Housing Revenue, GO of Authority Insured)		0.23			11/01/2030		14,520,000		14,520,000
Wisconsin Housing & Economic Development Authority (Housing Revenue, FNMA Insured, GO of Authority Insured)		0.28			09/01/2035		7,515,000		7,515,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Wisconsin State HEFA (Education Revenue, U.S. Bank NA LOC)		0.20	%		12/01/2033	$	18,700,000		18,700,000

									49,055,000


Wyoming: 0.15%

Variable Rate Demand Notes §: 0.15%
Uinta County WY PCR Chevron USA Incorporated Project (IDR)		0.20			08/15/2020		20,100,000		20,100,000
Wyoming Student Loan Corporation (Education Revenue, Royal Bank of Canada LOC)		0.26			12/01/2043		16,150,000		16,150,000
Wyoming Student Loan Corporation Series A-1 (Education Revenue)		0.26			06/01/2035		36,680,000		36,680,000

									72,930,000


Total Municipal Bonds and Notes (Cost $6,909,922,587)									6,909,922,587


Other Instruments: 1.19%
District of Columbia Variable Rate Demand Obligation Commercial Paper		0.28			05/06/2011		28,800,000		28,800,000
Illinois Educational Facilities Authority		0.30			06/13/2011		3,000,000		3,000,000
ING Bank NV †† ±		0.81			02/02/2012		154,000,000		154,000,000
ING Bank NV †† ±		0.82			02/10/2012		121,000,000		121,000,000
Merrill Lynch Series TNP-003 †† § ±		0.46			04/01/2026		23,075,000		23,075,000
Port of Oakland CA Municipal Commercial Paper^		0.28			06/15/2011		20,000,000		19,992,911
SF Tarns LLC Variable Rate Note §		0.33			12/01/2025		14,610,000		14,610,000
St. Joseph County IN Municipal Commercial Paper^		0.28			06/15/2011		39,025,000		39,011,168
Svenska Handlesbanken AB Floating Rate Note †† ±		0.50			07/01/2011		132,000,000		131,997,605
Swedish Export Credit Euro MTN Floating Rate Note †† ±		0.40			10/14/2011		40,000,000		40,021,253

Total Other Instruments (Cost $575,507,937)									575,507,937


Other Notes: 4.72%

Corporate Bonds and Notes: 2.49%
American Association of Retired Persons §		0.28			05/01/2031		10,000,000		10,000,000
American Express Bank FSB ±		1.21			12/09/2011		176,000,000		177,063,013
Bank of America Corporation ±		1.00			12/02/2011		89,000,000		89,415,972
Bank of America Corporation ±		1.13			12/02/2011		145,200,000		145,941,913
Baptist Hospital Incorporated §		0.29			02/01/2040		15,575,000		15,575,000
Bear Stearns & Companies Incorporated ±		0.52			08/15/2011		28,085,000		28,099,097
Citigroup Funding Incorporated ±		0.60			04/30/2012		145,000,000		145,564,544
Citigroup Funding Incorporated ±		0.23			05/05/2011		15,000,000		14,999,960
General Electric Capital Corporation ±		0.51			03/12/2012		96,000,000		96,204,095
General Electric Capital Corporation §		1.24			12/09/2011		140,000,000		140,832,700
Independence Place Fort Campbell Patriots LLC ±		0.38			01/01/2040		8,480,000		8,480,000
JPMorgan Chase & Company ±		0.42			05/16/2011		16,507,000		16,507,512
JPMorgan Chase & Company ±		0.54			06/15/2012		52,000,000		52,160,351
JPMorgan Chase & Company ±		1.00			12/02/2011		135,000,000		135,630,409
Seariver Maritime Incorporated(i) ±		0.45			10/01/2011		2,650,000		2,650,000
UBS AG ±		1.41			02/23/2012		128,795,000		129,692,918

									1,208,817,484


Secured Master Note Agreement: 2.13%
Bank of America Securities LLC §		0.25			09/09/2034		775,300,000		775,300,000
Lloyds TSB Bank plc		0.40			11/01/2011		259,000,000		259,000,000

									1,034,300,000


Yankee Corporate Bonds and Notes: 0.10%
Eksportfinans ASA ±		0.28			09/22/2011		48,000,000		48,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

HERITAGE MONEY MARKET FUND


Security Name			Interest Rate			Maturity Date		Principal		Value
Total Other Notes (Cost $2,291,117,484)											2,291,117,484


Repurchase Agreements(z): 5.59%
Barclays Capital Incorporated, dated 04/29/2011, maturity value $708,001,967 (1)				0.05	%		05/02/2011	$	708,000,000		708,000,000
Citibank NA, dated 04/29/2011, maturity value $767,002,557 (2)				0.06			05/02/2011		767,000,000		767,000,000
Deutsche Bank Securities, dated 04/29/2011, maturity value $507,051,408 (3)				0.05			05/02/2011		507,050,000		507,050,000
JPMorgan Securities, dated 04/29/2011, maturity value $35,000,525 (5)				0.18			05/02/2011		94,000,000		94,000,000
Societe Generale, dated 04/29/2011, maturity value $635,001,764 (5)				0.05			05/02/2011		635,000,000		635,000,000

Total Repurchase Agreements (Cost $2,711,050,000)											2,711,050,000

Treasury Debt: 2.63%
US Treasury Bill^				0.12			10/06/2011		548,000,000		547,713,213
US Treasury Bill^				0.15			08/25/2011		294,000,000		293,854,429
US Treasury Bill^				0.16			08/18/2011		287,000,000		286,857,935
US Treasury Bill^				0.18			08/11/2011		146,000,000		145,926,270

Total Treasury Debt (Cost $1,274,351,847)											1,274,351,847


Total Investments in Securities (Cost $48,874,821,110)*	100.79	%								$	48,874,821,110

Other Assets and Liabilities, Net	(0.79	)									(384,266,938	)

Total Net Assets	100.00	%								$	48,490,554,172

††	Security that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

(i)

Illiquid security

§	These securities are subject to a demand feature which reduces the effective maturity.

±	Variable rate investments.

^	Zero coupon security. Rate represents yield to maturity.

(z)

Collateralized by:

(1) U.S. government securities, 0.00% to 5.50%, 5/5/2011 to 2/20/2041, market value including accrued interest is $725,129,020.

(2) U.S. government securities, 3.00% to 12.50%, 5/1/2011 to 11/1/2049, market value including accrued interest is $790,010,000.

(3) U.S. government securities, 4.00% to 7.00%, 7/1/2024 to 3/20/2041, market value including accrued interest is $522,261,500.

(4) Commercial papers, 0.00%, 5/26/2011 to 6/2/2011, market value is $95,880,627.

(5) U.S. government securities, 1.75% to 7.00%, 11/1/2013 to 12/1/2047, market value including accrued interest is $654,050,000.

*	Cost for federal income tax purposes is substantially the same as for financial reporting purposes.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Certificates of Deposit: 20.48%
Abbey National Treasury Services		0.12	%		05/02/2011	$	76,000,000	$	76,000,000
Banco Bilbao Vizcaya Argentaria (London)		0.15			05/02/2011		67,000,000		67,000,000
Banco Del Estado De Chile plc		0.23			05/03/2011		16,000,000		16,000,000
Banco Santander (Madrid)		0.13			05/02/2011		49,000,000		49,000,000
Banco Santander (Madrid)		0.14			05/03/2011		25,000,000		25,000,000
Barclays Bank plc (New York)±		0.62			04/16/2012		17,000,000		17,000,000
Barclays Bank plc (New York)±		0.68			01/17/2012		40,000,000		40,000,000
Barclays Bank plc (New York)±		0.71			10/24/2011		22,000,000		22,000,000
Bayer AG		0.14			05/03/2011		30,000,000		30,000,000
BNP Paribas		0.39			07/01/2011		22,000,000		22,000,000
Credit Agricole		0.11			05/02/2011		17,000,000		17,000,000
Credit Agricole		0.14			05/03/2011		6,000,000		6,000,000
Credit Agricole		0.14			05/03/2011		25,000,000		25,000,000
Credit Agricole		0.32			06/16/2011		4,000,000		4,000,000
Credit Agricole		0.37			07/11/2011		4,000,000		4,000,000
Credit Agricole		0.38			07/06/2011		30,000,000		30,000,000
Credit Agricole		0.51			06/06/2011		10,000,000		10,001,647
Credit Industriel et Commercial		0.41			05/16/2011		29,000,000		29,001,971
Danske Corporation		0.15			05/03/2011		30,000,000		30,000,000
DNB Nor Bank ASA		0.10			05/02/2011		80,000,000		80,000,000
Groupe BPCE		0.13			05/02/2011		54,000,000		54,000,000
HSBC Bank plc		0.11			05/02/2011		18,000,000		18,000,000
Intesa Sanpaolo SpA (London)		0.13			05/03/2011		11,000,000		11,000,000
National Bank of Canada±		0.41			10/07/2011		35,000,000		35,000,000
National Bank of Canada±		0.41			09/21/2011		10,000,000		10,000,000
Natixis Corporation		0.11			05/02/2011		28,000,000		28,000,000
Natixis Corporation		0.40			05/23/2011		7,000,000		7,000,081
Natixis Corporation		0.41			05/09/2011		1,000,000		1,000,002
Natixis Corporation±		0.54			07/07/2011		35,000,000		35,000,000
Norinchukin Bank		0.18			05/03/2011		7,000,000		7,000,000
Norinchukin Bank		0.18			05/06/2011		32,000,000		32,000,000
Rabobank Nederland NV		0.29			10/21/2011		27,000,000		27,000,000
Rabobank Nederland NV		0.31			04/24/2012		14,000,000		13,999,303
Rabobank Nederland NV±		0.31			01/10/2012		30,000,000		30,000,000
Rabobank Nederland NV±		0.32			12/06/2011		30,000,000		30,000,000
Royal Bank of Scotland plc±		0.44			10/31/2011		20,000,000		20,000,000
Royal Bank of Scotland plc±		0.53			09/13/2011		45,000,000		45,000,000
Skandinav Enskilda Banken		0.29			06/28/2011		60,000,000		60,000,000
Skandinav Enskilda Banken		0.34			05/16/2011		9,000,000		8,999,983
Skandinav Enskilda Banken		0.34			05/06/2011		30,000,000		30,000,000
Societe Generale (New York)		0.12			05/02/2011		25,000,000		25,000,000
Societe Generale (New York)±		0.34			01/27/2012		20,000,000		20,000,000
Societe Generale (New York)		0.56			08/12/2011		47,000,000		47,000,000
Societe Generale (New York)±		1.71			05/05/2011		5,000,000		5,000,000
Sumitomo Mitsui Banking Corporation		0.16			05/06/2011		30,000,000		30,000,000
Sumitomo Mitsui Banking Corporation		0.17			05/05/2011		41,000,000		41,000,000
Sumitomo Mitsui Banking Corporation		0.17			05/05/2011		53,000,000		53,000,000
Sumitomo Mitsui Banking Corporation		0.18			05/03/2011		51,000,000		51,000,000
Sumitomo Mitsui Banking Corporation		0.19			05/02/2011		56,000,000		56,000,000
Sumitomo Mitsui Banking Corporation		0.19			05/02/2011		15,000,000		15,000,000
Svenska Handsbanken AB		0.28			06/15/2011		9,000,000		9,000,000
Svenska Handsbanken AB		0.28			06/06/2011		4,000,000		4,000,019
Toronto-Dominion Bank±		0.31			01/12/2012		25,000,000		25,000,000
UBS AG		0.30			05/09/2011		52,000,000		52,000,000

Total Certificates of Deposit (Cost $1,535,003,006)									1,535,003,006


Commercial Paper: 47.99%

Asset-Backed Commercial Paper: 29.41%
Alpine Securitzation††^		0.15			05/19/2011		30,000,000		29,997,589
Alpine Securitzation††^		0.15			05/20/2011		33,000,000		32,997,195
Alpine Securitzation††^		0.16			05/25/2011		10,000,000		9,998,914

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Asset-Backed Commercial Paper (continued)
Alpine Securitzation††^		0.16	%		05/26/2011	$	10,000,000	$	9,998,867
Amsterdam Funding Corporation††^		0.31			07/06/2011		24,000,000		23,986,133
Antalis US Funding Corporation††^		0.08			05/03/2011		12,000,000		11,999,923
Arabella Finance LLC††^		0.33			05/05/2011		2,000,000		1,999,908
Arabella Finance LLC††^		0.43			05/11/2011		5,000,000		4,999,350
Arabella Finance LLC††^		0.48			05/23/2011		15,000,000		14,995,450
Arabella Finance LLC††^		0.49			05/31/2011		4,000,000		3,998,324
Arabella Finance LLC††^		0.49			05/27/2011		7,000,000		6,997,424
Argento Funding Companies Limited††^		0.26			07/19/2011		32,000,000		31,981,280
Argento Funding Companies Limited††^		0.30			06/02/2011		7,000,000		6,998,071
Argento Funding Companies Limited††^		0.30			06/03/2011		15,000,000		14,995,733
Argento Funding Companies Limited††^		0.32			08/08/2011		20,000,000		19,982,033
Argento Funding Companies Limited††^		0.34			06/06/2011		6,000,000		5,997,900
Aspen Funding Corporation††^		0.26			07/07/2011		13,000,000		12,993,565
Aspen Funding Corporation††^		0.29			06/16/2011		10,000,000		9,996,250
Atlantic Asset Securities††^		0.09			05/03/2011		35,000,000		34,999,738
Atlantic Asset Securitization Corporation††^		0.14			05/04/2011		11,000,000		10,999,835
Atlantic Asset Securitization Corporation††^		0.24			06/02/2011		4,000,000		3,999,139
Atlantic Asset Securitization Corporation††^		0.26			05/23/2011		11,000,000		10,998,192
Atlantic Asset Securitization Corporation††^		0.26			07/05/2011		7,000,000		6,996,640
Atlantic Asset Securitization Corporation††^		0.26			07/07/2011		4,000,000		3,998,020
Atlantic Asset Securitization Corporation††^		0.26			07/11/2011		21,000,000		20,988,975
Atlantis One Funding Corporation††^		0.23			05/12/2011		36,000,000		35,997,200
Autobahn Funding Company LLC††^		0.19			05/13/2011		14,000,000		13,999,016
Autobahn Funding Company LLC††^		0.21			05/18/2011		20,000,000		19,997,867
Autobahn Funding Company LLC††^		0.27			06/15/2011		27,302,000		27,292,657
Barton Capital Corporation††^		0.23			05/09/2011		4,000,000		3,999,774
Belmont Funding LLC††^		0.05			05/02/2011		4,000,000		4,000,000
CAFCO LLC††^		0.27			05/19/2011		13,000,000		12,998,158
Cancara Asset Securitisation LLC††^		0.19			05/05/2011		7,000,000		6,999,819
Cancara Asset Securitisation LLC††^		0.19			05/11/2011		31,000,000		30,998,218
Cancara Asset Securitisation LLC††^		0.19			05/12/2011		12,000,000		11,999,233
Cancara Asset Securitisation LLC††^		0.24			05/09/2011		40,000,000		39,997,589
Cancara Asset Securitisation LLC††^		0.24			07/20/2011		10,000,000		9,994,514
Cancara Asset Securitisation LLC††^		0.27			05/16/2011		5,000,000		4,999,397
Cancara Asset Securitisation LLC††^		0.34			06/28/2011		5,000,000		4,997,229
Charta LLC††^		0.14			05/11/2011		15,000,000		14,999,363
Charta LLC††^		0.27			05/19/2011		16,000,000		15,997,733
Ciesco LLC††^		0.27			05/19/2011		7,000,000		6,999,008
Concord Minutemen Capital Company††^		0.20			05/04/2011		14,000,000		13,999,689
Concord Minutemen Capital Company††^		0.27			05/06/2011		8,000,000		7,999,644
Concord Minutemen Capital Company††^		0.32			05/10/2011		17,000,000		16,998,489
Concord Minutemen Capital Company††^		0.33			05/11/2011		4,000,000		3,999,600
Concord Minutemen Capital Company††^		0.35			05/17/2011		6,000,000		5,999,000
Concord Minutemen Capital Company††^		0.36			05/19/2011		8,000,000		7,998,489
Concord Minutemen Capital Company††^		0.37			05/26/2011		11,000,000		10,997,067
CRC Funding LLC††^		0.27			06/13/2011		3,000,000		2,999,020
Crown Point Capital Company††^		0.00			05/02/2011		9,000,000		9,000,000
Crown Point Capital Company††^		0.13			05/03/2011		5,000,000		4,999,944
Crown Point Capital Company††^		0.24			05/05/2011		6,000,000		5,999,800
Crown Point Capital Company††^		0.31			05/09/2011		15,000,000		14,998,833
Crown Point Capital Company††^		0.33			05/11/2011		12,000,000		11,998,800
Crown Point Capital Company††^		0.34			05/13/2011		15,000,000		14,998,166
Crown Point Capital Company††^		0.35			05/16/2011		10,000,000		9,998,444
Crown Point Capital Company††^		0.36			05/18/2011		8,000,000		7,998,578
Crown Point Capital Company††^		0.36			05/19/2011		4,000,000		3,999,244
Crown Point Capital Company††^		0.37			05/23/2011		12,000,000		11,997,200
Crown Point Capital Company††^		0.38			06/03/2011		5,000,000		4,998,222
Ebbets Funding LLC††^		0.00			05/02/2011		4,000,000		4,000,000
Ebbets Funding LLC††^		0.17			05/03/2011		6,000,000		5,999,917
Gemini Securitization Corporation LLC††^		0.10			05/03/2011		46,044,000		46,043,604
Gemini Securitization Corporation LLC††^		0.15			05/04/2011		5,000,000		4,999,917
Gemini Securitization Corporation LLC††^		0.17			05/11/2011		11,000,000		10,999,423

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date	Principal		Value
Asset-Backed Commercial Paper (continued)
Gemini Securitization Corporation LLC††^		0.24	%	07/12/2011	$	10,000,000	$	9,995,069
Gemini Securitization Corporation LLC††^		0.24		07/25/2011		4,000,000		3,997,667
Gemini Securitization Corporation LLC††^		0.25		07/08/2011		25,000,000		24,987,903
Gemini Securitization Corporation LLC††^		0.28		06/01/2011		6,000,000		5,998,500
Govco LLC††^		0.16		05/24/2011		4,000,000		3,999,584
Govco LLC††^		0.23		07/12/2011		20,000,000		19,990,533
Govco LLC††^		0.23		07/15/2011		10,000,000		9,995,067
Govco LLC††^		0.23		07/22/2011		4,000,000		3,997,840
Govco LLC††^		0.23		07/25/2011		5,000,000		4,997,200
Govco LLC††^		0.28		05/31/2011		5,000,000		4,998,792
Grampian Funding LLC††^		0.17		05/04/2011		27,000,000		26,999,510
Grampian Funding LLC††^		0.19		05/05/2011		9,000,000		8,999,760
Grampian Funding LLC††^		0.26		05/10/2011		13,000,000		12,999,076
Grampian Funding LLC††^		0.27		07/12/2011		40,000,000		39,977,912
Grampian Funding LLC††^		0.29		06/08/2011		24,000,000		23,992,354
Grampian Funding LLC††^		0.30		06/14/2011		13,000,000		12,995,186
Grampian Funding LLC††^		0.30		06/03/2011		10,000,000		9,997,156
Grampian Funding LLC††^		0.30		08/10/2011		5,000,000		4,995,694
Jupiter Securitization Corporation LLC††^		0.15		05/16/2011		35,000,000		34,997,686
Kells Funding LLC††^		0.21		07/21/2011		15,000,000		14,992,667
Kells Funding LLC††±		0.35		11/29/2011		51,000,000		51,000,000
Kells Funding LLC		0.36		12/16/2011		10,000,000		10,000,000
Kells Funding LLC††±		0.39		02/21/2012		15,000,000		15,000,000
Legacy Capital Company††^		0.13		05/03/2011		9,000,000		8,999,900
Legacy Capital Company††^		0.24		05/05/2011		6,000,000		5,999,800
Legacy Capital Company††^		0.31		05/09/2011		12,000,000		11,999,067
Legacy Capital Company††^		0.33		05/12/2011		10,000,000		9,998,889
Lexington Parker Capital††^		0.00		05/02/2011		3,000,000		3,000,000
Lexington Parker Capital††^		0.24		05/05/2011		3,000,000		2,999,900
Lexington Parker Capital††^		0.31		05/09/2011		5,000,000		4,999,611
Lexington Parker Capital††^		0.33		05/12/2011		7,000,000		6,999,222
Lexington Parker Capital††^		0.36		05/18/2011		11,000,000		10,998,044
Lexington Parker Capital††^		0.37		05/24/2011		10,000,000		9,997,556
Lexington Parker Capital††^		0.37		05/25/2011		20,000,000		19,994,889
LMA Americas LLC††^		0.15		05/06/2011		4,000,000		3,999,898
LMA Americas LLC††^		0.19		05/13/2011		15,000,000		14,998,946
LMA Americas LLC††^		0.21		05/24/2011		10,000,000		9,998,594
LMA Americas LLC††^		0.24		07/20/2011		1,000,000		999,451
LMA Americas LLC††^		0.24		07/22/2011		9,000,000		8,994,938
LMA Americas LLC††^		0.24		07/28/2011		1,000,000		999,396
LMA Americas LLC††^		0.26		06/23/2011		13,000,000		12,994,930
LMA Americas LLC††^		0.26		07/13/2011		19,000,000		18,989,740
LMA Americas LLC††^		0.27		07/15/2011		8,000,000		7,995,396
LMA Americas LLC††^		0.29		06/20/2011		9,000,000		8,996,325
Matchpoint Master Trust††^		0.18		05/19/2011		14,000,000		13,998,678
Matchpoint Master Trust††^		0.26		05/16/2011		10,000,000		9,998,833
MetLife Short Term Funding LLC††^		0.24		07/13/2011		50,000,000		49,975,000
MetLife Short Term Funding LLC††^		0.26		05/10/2011		6,000,000		5,999,573
Mont Blanc Capital Corporation††^		0.23		07/06/2011		8,000,000		7,996,533
Mont Blanc Capital Corporation††^		0.23		07/12/2011		10,000,000		9,995,267
Mont Blanc Capital Corporation††^		0.25		05/13/2011		14,000,000		13,998,716
Mont Blanc Capital Corporation††^		0.27		05/17/2011		3,000,000		2,999,625
Mont Blanc Capital Corporation††^		0.29		06/09/2011		1,000,000		999,683
Mont Blanc Capital Corporation††^		0.29		06/14/2011		7,000,000		6,997,492
Newport Funding Corporation††^		0.25		07/11/2011		25,000,000		24,987,361
Nieuw Amsterdam Receivables Corporation††^		0.10		05/03/2011		10,000,000		9,999,916
Nieuw Amsterdam Receivables Corporation††^		0.23		05/09/2011		3,000,000		2,999,825
Nieuw Amsterdam Receivables Corporation††^		0.25		08/01/2011		7,000,000		6,995,576
Nieuw Amsterdam Receivables Corporation††^		0.26		07/07/2011		8,000,000		7,996,040
Northern Pines Funding LLC††^		0.29		07/11/2011		16,000,000		15,990,667
Northern Pines Funding LLC††^		0.29		07/15/2011		12,000,000		11,992,600
Northern Pines Funding LLC††^		0.29		08/08/2011		6,000,000		5,995,100
Northern Pines Funding LLC††^		0.31		08/23/2011		12,000,000		11,988,323

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date	Principal		Value
Asset-Backed Commercial Paper (continued)
Regency Markets #1 LLC††^		0.11	%	05/06/2011	$	10,000,000	$	9,999,822
Regency Markets #1 LLC††^		0.17		05/12/2011		40,000,000		39,997,778
Regency Markets #1 LLC††^		0.18		05/25/2011		42,000,000		41,994,633
Rhein-Main Security Limited††^		0.46		05/16/2011		30,000,000		29,994,477
Rhein-Main Security Limited††^		0.47		07/11/2011		15,000,000		14,986,000
Rheingold Securitization††^		0.34		05/25/2011		5,000,000		4,998,818
Rheingold Securitization††^		0.46		05/16/2011		10,000,000		9,997,978
Rheingold Securitization††^		0.47		07/11/2011		8,000,000		7,992,533
Rheingold Securitization††^		0.47		07/15/2011		11,000,000		10,989,147
Romulus Funding Corporation††^		0.30		05/25/2011		12,000,000		11,997,470
Scaldis Capital LLC††^		0.13		05/04/2011		9,000,000		8,999,875
Scaldis Capital LLC††^		0.15		05/05/2011		6,000,000		5,999,875
Scaldis Capital LLC††^		0.19		05/09/2011		15,000,000		14,999,300
Scaldis Capital LLC††^		0.19		05/10/2011		17,000,000		16,999,093
Scaldis Capital LLC††^		0.19		05/24/2011		13,000,000		12,998,331
Scaldis Capital LLC††^		0.19		05/13/2011		35,000,000		34,997,540
Solitaire Funding LLC††^		0.23		05/09/2011		7,000,000		6,999,592
Solitaire Funding LLC††^		0.24		07/19/2011		10,000,000		9,994,583
Solitaire Funding LLC††^		0.24		07/21/2011		15,000,000		14,991,667
Solitaire Funding LLC††^		0.25		07/14/2011		7,000,000		6,996,309
Solitaire Funding LLC††^		0.26		05/16/2011		4,000,000		3,999,533
Solitaire Funding LLC††^		0.27		05/17/2011		13,000,000		12,998,321
Solitaire Funding LLC††^		0.29		06/10/2011		12,000,000		11,996,100
Solitaire Funding LLC††^		0.29		06/13/2011		22,000,000		21,992,300
Solitaire Funding LLC††^		0.29		06/17/2011		8,000,000		7,996,934
Starbird Funding Corporation††^		0.16		05/09/2011		15,000,000		14,999,388
Starbird Funding Corporation††^		0.23		07/21/2011		2,000,000		1,998,933
Starbird Funding Corporation††^		0.28		06/13/2011		10,000,000		9,996,617
Starbird Funding Corporation††^		0.28		05/27/2011		3,000,000		2,999,375
Straight-A Funding LLC††^		0.20		05/10/2011		14,000,000		13,999,222
Surrey Funding Corporation††^		0.24		07/07/2011		15,000,000		14,993,125
Sydney Capital Corporation††^		0.34		07/14/2011		7,000,000		6,995,032
Sydney Capital Corporation††^		0.34		07/18/2011		13,000,000		12,990,268
Sydney Capital Corporation††^		0.37		06/10/2011		6,000,000		5,997,465
Tasman Funding Incorporated††^		0.17		05/04/2011		3,000,000		2,999,945
Tasman Funding Incorporated††^		0.27		06/23/2011		4,000,000		3,998,382
Tasman Funding Incorporated††^		0.28		05/12/2011		5,000,000		4,999,542
Tasman Funding Incorporated††^		0.29		05/16/2011		4,000,000		3,999,487
Tasman Funding Incorporated††^		0.31		06/14/2011		8,000,000		7,996,871
Thames Asset Global Securitization††^		0.11		05/06/2011		15,000,000		14,999,717
Thames Asset Global Securitization††^		0.26		07/08/2011		11,000,000		10,994,473
Thames Asset Global Securitization††^		0.47		06/07/2011		8,000,000		7,996,000
Versailles Commercial Paper LLC††^		0.36		07/05/2011		25,000,000		24,983,556
Versailles Commercial Paper LLC††^		0.36		07/08/2011		35,000,000		34,975,899

								2,203,768,075


Financial Company Commerical Paper: 15.43%
ABN AMRO Funding USA LLC††^		0.23		06/28/2011		20,000,000		19,992,400
ANZ National Limited††±		0.40		09/13/2011		10,000,000		10,000,000
ASB Finance Limited††±		0.40		12/05/2011		7,000,000		7,000,000
ASB Finance Limited††±		0.40		12/02/2011		7,000,000		7,000,000
Axis Bank Limited^		0.41		07/25/2011		11,000,000		10,989,220
BGL BNP Paribas SA^		0.34		06/16/2011		37,000,000		36,983,813
BGL BNP Paribas SA^		0.39		07/07/2011		39,000,000		38,971,400
BNP Paribas Finance Incorporated^		0.33		06/03/2011		20,000,000		19,993,778
BNP Paribas Finance Incorporated^		0.33		06/09/2011		15,000,000		14,994,458
BNP Paribas Finance Incorporated^		0.38		07/08/2011		15,000,000		14,989,113
BNP Paribas Finance Incorporated^		0.38		07/18/2011		37,000,000		36,969,136
BNZ International Funding Limited††±		0.38		10/12/2011		10,000,000		10,000,225
BNZ International Funding Limited		0.39		10/07/2011		2,000,000		1,999,997
BNZ International Funding Limited††±		0.40		01/06/2012		10,000,000		10,000,000
BNZ International Funding Limited††±		0.41		09/01/2011		10,000,000		10,000,138

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Financial Company Commerical Paper (continued)
BPCE SA††^		0.20	%		05/04/2011	$	2,000,000	$	1,999,956
BPCE SA††^		0.37			06/08/2011		32,000,000		31,987,173
BPCE SA††^		0.38			06/16/2011		18,000,000		17,991,000
Danske Corporation††^		0.27			06/01/2011		10,000,000		9,997,583
Danske Corporation††^		0.31			06/08/2011		13,000,000		12,995,591
Danske Corporation††^		0.35			05/31/2011		11,000,000		10,996,721
Erste Finance LLC††^		0.09			05/04/2011		75,000,000		74,999,292
Fortis Funding LLC††^		0.34			06/15/2011		37,000,000		36,984,172
ICICI Bank Limited^		0.64			09/16/2011		23,000,000		22,943,107
ING US Funding LLC^		0.31			06/29/2011		20,000,000		19,989,689
Macquarie Bank Limited††^		0.35			06/15/2011		23,000,000		22,989,599
Macquarie Bank Limited††^		0.36			06/13/2011		38,000,000		37,983,153
Macquarie Bank Limited††^		0.40			06/29/2011		5,000,000		4,996,697
Macquarie Bank Limited††^		0.40			07/05/2011		7,000,000		6,994,898
Macquarie Bank Limited††^		0.40			07/06/2011		8,000,000		7,994,078
Macquarie Bank Limited††^		0.40			07/07/2011		8,000,000		7,993,987
Macquarie Bank Limited††^		0.40			07/08/2011		8,000,000		7,993,896
Macquarie Bank Limited††^		0.40			07/11/2011		5,000,000		4,996,014
Macquarie Bank Limited††^		0.40			07/12/2011		4,000,000		3,996,766
Mizuho Funding LLC††^		0.12			05/06/2011		15,000,000		14,999,700
Natexis Banques Populaires^		0.34			07/01/2011		20,000,000		19,988,333
Natexis Banques Populaires^		0.37			06/10/2011		17,000,000		16,992,818
National Rural Utilities Cooperative Finance Corporation^		0.21			05/10/2011		2,000,000		1,999,884
Nationwide Building Society††^		0.19			05/19/2011		6,000,000		5,999,405
Nationwide Building Society††^		0.28			05/11/2011		21,000,000		20,998,215
Nationwide Building Society††^		0.36			07/05/2011		28,000,000		27,981,582
Nationwide Building Society††^		0.36			07/06/2011		16,000,000		15,989,311
Nationwide Building Society††^		0.36			07/07/2011		16,000,000		15,989,147
PB Financing Incorporated††^		0.47			05/11/2011		1,000,000		999,858
PB Financing Incorporated††^		0.49			07/20/2011		6,000,000		5,993,417
PB Financing Incorporated††^		0.49			07/26/2011		9,000,000		8,989,375
PB Financing Incorporated††^		0.49			06/24/2011		8,000,000		7,993,993
PB Financing Incorporated††^		0.49			06/27/2011		19,000,000		18,984,927
PB Financing Incorporated††^		0.51			07/07/2011		10,000,000		9,990,467
PB Financing Incorporated††^		0.51			07/11/2011		21,000,000		20,978,767
PB Financing Incorporated††^		0.54			06/07/2011		10,000,000		9,994,300
PB Financing Incorporated††^		0.54			06/09/2011		5,000,000		4,996,992
PB Financing Incorporated††^		0.54			06/10/2011		10,000,000		9,993,825
PB Financing Incorporated††^		0.55			06/15/2011		4,000,000		3,997,213
Prudential plc††^		0.32			06/02/2011		2,000,000		1,999,414
Prudential plc††^		0.32			06/08/2011		4,000,000		3,998,602
Prudential plc††^		0.33			06/14/2011		11,000,000		10,995,533
Prudential plc††^		0.34			07/05/2011		5,000,000		4,996,889
Prudential plc††^		0.34			07/06/2011		4,000,000		3,997,472
Prudential plc††^		0.36			07/13/2011		21,000,000		20,984,460
Prudential plc††^		0.37			07/18/2011		21,000,000		20,982,932
Prudential plc††^		0.37			07/21/2011		14,000,000		13,988,178
RBS Holdings USA Incorporated††^		0.27			05/11/2011		12,000,000		11,999,010
RBS Holdings USA Incorporated††^		0.29			05/24/2011		3,000,000		2,999,413
Skandinaviska Enslilda Banken AB††^		0.33			06/02/2011		20,000,000		19,993,972
Skandinaviska Enskilda Banken AB††^		0.33			06/01/2011		10,000,000		9,997,083
Standard Chartered Bank††^		0.29			07/11/2011		38,000,000		37,977,833
Suncorp-Metway Limited††^		0.30			05/05/2011		15,000,000		14,999,375
Suncorp-Metway Limited††^		0.45			05/17/2011		12,000,000		11,997,450
Suncorp-Metway Limited††^		0.49			06/08/2011		5,000,000		4,997,379
Suncorp-Metway Limited††^		0.49			06/09/2011		9,000,000		8,995,155
Svenska Handlesbanken AB††^		0.25			05/18/2011		59,000,000		58,992,658
Swedbank AB^		0.26			07/28/2011		1,000,000		999,348
Swedbank AB^		0.26			07/29/2011		3,000,000		2,998,020
Swedbank AB^		0.26			08/03/2011		1,000,000		999,303
Swedbank AB^		0.26			08/04/2011		1,000,000		999,295
Westpac Securities NZ Limited††±		0.37			10/13/2011		20,000,000		20,000,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Financial Company Commerical Paper (continued)
Westpac Securities NZ Limited††±		0.38	%		08/19/2011	$	25,000,000	$	25,000,000

									1,156,447,353


Other Commercial Paper: 3.15%
ACTS Retirement Life Communities Incorporated^		0.29			06/16/2011		4,000,000		3,998,500
Caisse d’Amortissement de la Dette Sociale††^		0.15			05/04/2011		23,000,000		22,999,617
Caisse d’Amortissement de la Dette Sociale††^		0.22			05/10/2011		26,000,000		25,998,382
Caisse d’Amortissement de la Dette Sociale††^		0.25			05/16/2011		25,000,000		24,997,278
Caisse d’Amortissement de la Dette Sociale††^		0.25			05/17/2011		49,000,000		48,994,283
Caisse d’Amortissement de la Dette Sociale††^		0.27			06/06/2011		6,000,000		5,998,367
Caisse d’Amortissement de la Dette Sociale††^		0.27			06/09/2011		3,000,000		2,999,113
EDF SA††^		0.13			05/02/2011		20,000,000		20,000,000
European Investment Bank^		0.24			06/24/2011		10,000,000		9,996,319
European Investment Bank^		0.25			06/29/2011		30,000,000		29,987,433
GDF Suez††^		0.23			05/10/2011		4,000,000		3,999,742
GDF Suez††^		0.27			05/23/2011		2,000,000		1,999,650
GDF Suez††^		0.28			05/24/2011		1,000,000		999,817
GDF Suez††^		0.28			06/09/2011		3,000,000		2,999,082
GDF Suez††^		0.28			06/20/2011		6,000,000		5,997,632
GDF Suez††^		0.29			06/13/2011		2,000,000		1,999,300
Statens Bostadsfin††^		0.17			05/03/2011		6,000,000		5,999,917
Statens Bostadsfin††^		0.25			05/04/2011		8,000,000		7,999,778
Statens Bostadsfin††^		0.38			06/07/2011		8,000,000		7,996,800

									235,961,010

Total Commercial Paper (Cost $3,596,176,438)									3,596,176,438

Government Agency Debt: 0.39%
FHLMC±		0.16			02/02/2012		29,000,000		28,982,349

Total Government Agency Debt (Cost $28,982,349)									28,982,349

Municipal Bonds and Notes: 16.15%

Alabama: 0.73%

Variable Rate Demand Notes §: 0.73%
Lower Alabama Gas District Supply Revenue Series A (Utilities Revenue, Societe Generale LOC)		0.27			11/01/2027		14,000,000		14,000,000
Southeast Alabama Gas District Alabama Supply Project Series 2007-A (Utilities Revenue)		0.24			08/01/2027		41,000,000		41,000,000

									55,000,000

California: 3.91%

Other Municipal Debt: 1.09%

City of San Francisco CA (Miscellaneous Revenue)		0.27			07/11/2011		4,000,000		4,000,000
City of San Francisco CA (Miscellaneous Revenue)		0.30			06/08/2011		4,000,000		4,000,000
City of San Francisco CA (Miscellaneous Revenue)		0.34			06/08/2011		2,000,000		2,000,000
City of San Francisco CA (Miscellaneous Revenue)		0.35			06/02/2011		9,000,000		9,000,000
City of San Jose CA (Miscellaneous Revenue)		0.22			05/03/2011		9,000,000		9,000,000
City of San Jose CA (Miscellaneous Revenue)		0.25			05/13/2011		8,000,000		8,000,000
City of San Jose CA (Miscellaneous Revenue)		0.25			07/14/2011		4,000,000		4,000,000
City of San Jose CA (Miscellaneous Revenue)		0.25			07/14/2011		3,000,000		3,000,000
City of San Jose CA International Airport (Airport Revenue)		0.24			04/29/2011		24,000,000		24,000,000
Los Angeles CA Department of Airports (Airport Revenue) ^		0.13			05/02/2011		3,000,000		3,000,000
Los Angeles CA Department of Airports (Airport Revenue)		0.31			05/09/2011		8,000,000		8,000,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Other Municipal Debt (continued)
San Joaquin County CA COP (GO - Local)		0.30	%		06/02/2011	$	4,000,000	$	4,000,000

									82,000,000

Variable Rate Demand Notes §: 2.82%
ABAG Finance Authority for Nonprofit Corporations California MFHR Geneva Pointe Apartments Series A (Housing Revenue, FNMA Insured)		0.25			03/15/2037		11,145,000		11,145,000
California Educational Facilities Authority (Education Revenue, Bank of America Corporation LOC, NATL-RE Insured)		0.30			10/01/2043		8,320,000		8,320,000
California GO Series B (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		0.23			05/01/2040		6,000,000		6,000,000
California HFA Program Series A (Housing Revenue, FNMA LOC)		0.24			08/01/2036		2,000,000		2,000,000
California HFFA Catholic Healthcare Series C (Health Revenue, JPMorgan Chase Bank LOC, NATL-RE Insured)		0.25			07/01/2020		2,000,000		2,000,000
California HFFA Catholic West Series H (Health Revenue, Bank of America NA LOC)		0.24			07/01/2035		200,000		200,000
California PCFA Pacific Gas & Electric Series B (Utilities Revenue, JPMorgan Chase & Company LOC)		0.27			11/01/2026		21,000,000		21,000,000
California State Series A Subseries C-2 (GO - State)		0.24			05/01/2033		4,000,000		4,000,000
California State Series B Subseries B1 (GO - State, Bank of America NA LOC)		0.24			05/01/2040		7,000,000		7,000,000
California Statewide CDA Oakmont Senior Living Series Y (Housing Revenue, FNMA Insured)		0.26			08/01/2031		3,500,000		3,500,000
California Statewide CDA Pravillions Apartments Series M (Housing Revenue, FNMA Insured)		0.26			08/15/2034		3,500,000		3,500,000
Camarillo CA Hacienda De Camarillo Project (Housing Revenue, FNMA Insured)		0.25			10/15/2026		5,065,000		5,065,000
Contra Costa County CA Creekview Apartments Series B (Housing Revenue, FHLMC Insured)		0.25			07/01/2036		4,000,000		4,000,000
Irvine CA Improvement Board ACT 1915 Assessment District #85-7 Series A (GO - Local)		0.45			09/02/2032		5,000,000		5,000,000
Los Angeles CA Beverly Park Apartments Series A (Housing Revenue, FHLMC Insured)		0.26			08/01/2018		6,500,000		6,500,000
Los Angeles CA Community RDA Academy Village Apartments (Housing Revenue, FHLMC Insured)		0.24			10/01/2019		500,000		500,000
Metropolitan Water District of Southern California Series B (Water & Sewer Revenue)		0.25			07/01/2027		5,000,000		5,000,000
Metropolitan Water District of Southern California Series B-2 (Water & Sewer Revenue)		0.30			07/01/2035		5,000,000		5,000,000
Newport Beach CA Hoag Memorial Hospital Series D (Health Revenue)		0.22			12/01/2040		5,000,000		5,000,000
Pasadena CA COP Series A (Lease Revenue, Bank of America NA LOC)		0.24			02/01/2035		21,000,000		21,000,000
Riverside CA COP Riverside Renaissance Project Series 2008 (Lease Revenue)		0.24			03/01/2037		16,515,000		16,515,000
Riverside CA Series C (Lease Revenue, Bank of America NA LOC)		0.24			10/01/2035		7,320,000		7,320,000
Sacramento County CA Housing Authority Shadowood Apartments Project Issue A (Housing Revenue, FHLMC Insured)		0.26			12/01/2022		4,000,000		4,000,000
San Bernardino County CA TRAN Series A (Tax Revenue)		2.00			06/30/2011		5,000,000		5,013,524
San Diego CA HFA MFHR Stratton Apartments Project Series A (Housing Revenue, FNMA Insured)		0.25			01/15/2033		3,500,000		3,500,000
San Diego CA Housing Authority MFHR Hillside Garden Apartments Series B (Housing Revenue, FNMA Insured)		0.27			01/15/2035		3,500,000		3,500,000
San Francisco CA City & County Finance Corporation Moscone Center Project (Lease Revenue, Bank of America NA LOC)		0.25			04/01/2030		1,940,000		1,940,000
San Francisco CA City & County Redevelopment Agency 3RD Mission C Remarketed (Tax Revenue, FNMA Insured)		0.27			06/15/2034		5,000,000		5,000,000
San Francisco CA City & County Redevelopment Agency Community Facilities District # 4 (Tax Revenue, Bank of America NA LOC)		0.26			08/01/2032		5,000,000		5,000,000
San Leandro CA Carlton Plaza Series A (Housing Revenue, FNMA Insured)		0.27			09/15/2032		1,800,000		1,800,000
Simi Valley CA MFHA Series A (Housing Revenue, FHLMC Insured)		0.23			07/01/2023		8,000,000		8,000,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes § (continued)
Southern California Public Power Authority Magnolia Power Project Series 2009-1-A (Utilities Revenue, KBC Bank NV LOC)		0.26	%		07/01/2036	$	15,000,000	$	15,000,000
Tustin CA USD Special Adjusted Community Facilities (Tax Revenue)		0.24			09/01/2050		4,000,000		4,000,000
Whittier CA Whittier College Series 2008 (Education Revenue, Bank of America NA LOC)		0.27			12/01/2038		5,000,000		5,000,000

									211,318,524

Colorado: 0.61%

Variable Rate Demand Notes §: 0.61%
Colorado HFA Class I Series B 1 (Housing Revenue)		0.27			10/01/2038		4,828,500		4,828,500
Colorado HFA Taxable Multiple Family Project B 2 (Housing Revenue, FNMA Insured)		0.21			05/01/2050		15,600,000		15,600,000
Denver CO Public Schools Series A-4 (Education Revenue)		0.17			12/15/2037		7,000,000		7,000,000
JPMorgan Chase PUTTER/DRIVER Trust (Tax Revenue) ††		0.27			06/27/2011		10,000,000		10,000,000
JPMorgan Chase PUTTER/DRIVER Trust (Tax Revenue) ††		0.27			06/27/2011		8,000,000		8,000,000

									45,428,500

Connecticut: 0.07%

Variable Rate Demand Note §: 0.07%
City of New Britain CT Taxable Pension Series C (Tax Revenue, Bank of America NA LOC)		0.31			02/01/2026		5,000,000		5,000,000


Delaware: 0.13%

Variable Rate Demand Notes §: 0.13%
Delaware State Economic Development Agency Clean Power Project Series 1997-C (Energy Revenue)		0.25			08/01/2029		3,000,000		3,000,000
Delaware State Economic Development Agency Clean Power Project Series 1997-D (Resource Recovery Revenue)		0.28			08/01/2029		4,000,000		4,000,000
Delaware State Economic Development Authority Series B (Resource Recovery Revenue)		0.28			08/01/2029		3,000,000		3,000,000

									10,000,000

District of Columbia: 0.20%

Variable Rate Demand Notes §: 0.20%
District of Columbia Ballpark Series B2 (Miscellaneous Revenue, Bank of America LOC)		0.29			02/01/2036		1,950,000		1,950,000
District of Columbia The American University Series A (Education Revenue)		0.25			04/01/2038		9,000,000		9,000,000
Metropolitan Washington DC Airports Authority Subseries D-2 (Airport Revenue)		0.27			10/01/2039		4,000,000		4,000,000

									14,950,000


Florida: 0.14%

Variable Rate Demand Notes §: 0.14%
Florida Municipal Power Agency All Requirements Supply Series C (Energy Revenue)		0.27			10/01/2035		4,000,000		4,000,000
Palm Beach County FL Pine Crest Preparatory (Education Revenue, Bank of America NA LOC)		0.29			06/01/2032		6,115,000		6,115,000

									10,115,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Georgia: 0.05%

Variable Rate Demand Note §: 0.05%
Columbus GA Housing Development Authority PFOTER (Housing Revenue, ACA Insured) ††		0.41	%		10/01/2039	$	4,000,000	$	4,000,000


Illinois: 0.27%

Other Municipal Debt: 0.14%
City of Chicago Municipal Interest Bearing Commercial Paper (Water & Sewer Revenue, BHAC-CR AMBAC Insured)		0.40			05/19/2011		10,000,000		10,000,000


Variable Rate Demand Notes §: 0.13%
Chicago IL Midway Airport Series A2 (Airport Revenue, JPMorgan Chase Bank LOC)		0.28			01/01/2025		1,000,000		1,000,000
Chicago IL Midway Airport Series C (Airport Revenue, Morgan Stanley Bank LOC)		0.29			01/01/2035		2,000,000		2,000,000
Cook County IL GO Series D-2 (GO - Local)		0.21			11/01/2030		1,000,000		1,000,000
Illinois Finance Authority Resurrection Health Project Series 2005-B (Health Revenue)		0.27			05/15/2035		6,000,000		6,000,000

									10,000,000

Iowa: 0.09%

Variable Rate Demand Note §: 0.09%
Iowa Finance Authority Student Housing Des Moines LLC Project A (Housing Revenue, CitiBank NA LOC)		0.28			06/01/2039		7,000,000		7,000,000


Kentucky: 0.07%

Variable Rate Demand Note §: 0.07%
Warren County Kentucky IDA (IDR, Bank of America NA LOC)		0.43			12/01/2018		5,200,000		5,200,000


Louisiana: 0.15%

Variable Rate Demand Notes §: 0.15%
Parish of St. James LA Series A-1 (Energy Revenue)		0.28			11/01/2040		7,000,000		7,000,000
Parish of St. James LA Series B-1 (Energy Revenue)		0.28			11/01/2040		4,000,000		4,000,000

									11,000,000


Maryland: 0.13%

Variable Rate Demand Notes §: 0.13%
Howard County MD MFHR (Housing Revenue, FNMA Insured)		0.27			07/15/2033		3,000,000		3,000,000
Maryland CDA Department of Housing & Community Development Series 2007-J (Housing Revenue)		0.27			09/01/2031		2,960,000		2,960,000
Maryland CDA Series 2006-G (Housing Revenue)		0.29			09/01/2040		4,000,000		4,000,000

									9,960,000


Massachusetts: 0.54%

Other Municipal Debt: 0.15%
Massachusetts Water Resources Authority (Water & Sewer Revenue)		0.30			05/02/2011		11,000,000		11,000,000


Variable Rate Demand Notes §: 0.39%
Massachusetts State Department of Transportation Metro Highway Systems Contract Assistance Series A-4 (Transportation Revenue, GO of Commonwealth Insured)		0.21			01/01/2039		3,000,000		3,000,000
Massachusetts State Department of Transportation Metro Highway Systems Contract Assistance Series A-5 (GO - State)		0.21			01/01/2039		4,000,000		4,000,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes § (continued)
Massachusetts State Department of Transportation Series A6 (Transportation Revenue)		0.25	%		01/01/2029	$	2,000,000	$	2,000,000
Massachusetts State Development Finance Agency Babson College B (Education Revenue, Citizens Bank LOC)		0.20			10/01/2031		2,385,000		2,385,000
Massachusetts State HEFA (Education Revenue)		0.27			10/01/2034		1,990,000		1,990,000
Massachusetts State HEFA Series N-1 (Education Revenue)		0.21			08/15/2040		4,400,000		4,400,000
Massachusetts State HEFA Series N-3 (Health Revenue)		0.24			10/01/2038		1,000,000		1,000,000
Massachusetts State HEFA Stonehill College Issue Series K (Education Revenue, Bank of America Corporation LOC)		0.23			07/01/2037		8,000,000		8,000,000
Massachusetts Water Resources Authority Series E (Water & Sewer Revenue)		0.25			08/01/2037		2,810,000		2,810,000

									29,585,000

Michigan: 0.16%

Variable Rate Demand Notes §: 0.16%
Michigan HEFAR Calvin College Project Series 2007A (Education Revenue, JPMorgan Chase Bank LOC)		0.26			09/01/2037		7,000,000		7,000,000
Michigan State Housing Development Authority Series A (Housing Revenue, GO of Authority Insured)		0.28			10/01/2037		2,980,000		2,980,000
Wayne County MI IDA Rayonier Project Series 2000 (IDR, Bank of America NA LOC)		0.37			05/01/2020		2,000,000		2,000,000

									11,980,000

Minnesota: 0.05%

Variable Rate Demand Note §: 0.05%
Ramsey County MN Housing & Redevelopment MFHR Gateway Apartments LP Series A (Housing Revenue, LaSalle Bank NA LOC)		0.32			10/01/2038		4,100,000		4,100,000


Mississippi: 0.43%

Variable Rate Demand Notes §: 0.43%
Mississippi Business Finance Corporation Chevron USA Incorporated Project Series A (IDR)		0.16			12/01/2030		4,000,000		4,000,000
Mississippi Business Finance Corporation Chevron USA Incorporated Project Series C (IDR)		0.20			12/01/2030		2,000,000		2,000,000
Mississippi State GO Bonds Nissan North America Incorporated Project Series 2003A (Tax Revenue, GO of Commonwealth Insured)		0.20			11/01/2028		26,385,000		26,383,937

									32,383,937

Missouri: 0.15%

Variable Rate Demand Notes §: 0.15%
Kansas City MO IDA Revenue Ewing Marion Kauffman Foundation (IDR)		0.28			04/01/2027		3,000,000		3,000,000
Missouri Development Finance Board Nelson Gallery Foundation (Miscellaneous Revenue)		0.26			12/01/2037		8,000,000		8,000,000

									11,000,000

Nebraska: 0.07%

Variable Rate Demand Note §: 0.07%
Central Plains NE Nebraska Gas Project #2 Series 2009 (Utilities Revenue)		0.26			08/01/2039		4,960,000		4,960,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Nevada: 0.31%

Variable Rate Demand Notes §: 0.31%
Clark County NV Industrial Development (IDR, JPMorgan Chase Bank LOC)		0.32	%		03/01/2038	$	6,000,000	$	6,000,000
Las Vegas NV Economic Development Andre Agassi Foundation Project (Education Revenue, Bank of America LOC)		0.23			10/01/2035		8,000,000		8,000,000
Las Vegas NV Economic Development Keep Memory Alive Project (Miscellaneous Revenue, PNC Bank NA LOC)		0.26			05/01/2037		4,000,000		4,000,000
Reno NV Senior Lien Transportation Rail Access Corridor Project Series 2008A (Tax Revenue, Bank of New York LOC)		0.26			06/01/2042		5,000,000		5,000,000

									23,000,000

New Hampshire: 0.05%

Variable Rate Demand Note §: 0.05%
New Hampshire HEFA St. Anselm College Series 2008 (Education Revenue, RBS Citizens NA LOC)		0.25			06/01/2038		3,920,000		3,920,000

New Jersey: 0.94%

Variable Rate Demand Notes §: 0.94%
JPMorgan Chase PUTTER/DRIVER Trust Series 3871 (Utilities Revenue) ††		0.30			02/01/2015		2,000,000		2,000,000
JPMorgan Chase PUTTER/DRIVER Trust Series 3889 (Utilities Revenue) ††		0.27			06/23/2011		8,000,000		8,000,000
New Jersey Economic Development Authority NUI Corporation Project Series A (Energy Revenue, JPMorgan Chase Bank LOC)		0.27			06/01/2026		5,000,000		5,000,000
New Jersey Economic Development Authority Pivotal Utility Holdings Incorporated Project Series 2007 (Energy Revenue, JPMorgan Chase Bank LOC)		0.27			06/01/2032		6,000,000		6,000,000
New Jersey HFFA Princeton Healthcare System Issue Series 2010A (Hospital Revenue, Bank of America NA LOC)		0.26			07/01/2041		1,000,000		1,000,000
New Jersey State Housing & Mortgage Finance Agency Series B (Housing Revenue, Bank of America NA LOC)		0.22			05/01/2048		1,990,000		1,990,000
New Jersey State TRAN PUTTER (Miscellaneous Revenue) ††		0.27			06/23/2011		10,000,000		10,000,000
New Jersey State Turnpike Authority Series C (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		0.24			06/15/2032		13,000,000		13,000,000
New Jersey State Turnpike Authority Series D (Miscellaneous Revenue, Societe Generale LOC, NATL-RE FGIC Insured)		0.28			01/01/2018		10,000,000		10,000,000
Salem County NJ PCFA Atlantic City Electric Company Project Series A (Utilities Revenue, JPMorgan Chase Bank LOC)		0.26			04/15/2014		13,200,000		13,200,000

									70,190,000

New York: 2.03%

Other Municipal Debt: 0.51%
Long Island NY Power Authority (Utilities Revenue)		0.26			06/01/2011		16,000,000		16,000,000
New York Metropolitan Transportation Authority (Transportation Revenue)		0.26			06/02/2011		3,000,000		3,000,000
New York Metropolitan Transportation Authority (Transportation Revenue)		0.30			05/03/2011		16,000,000		16,000,000
New York Metropolitan Transportation Authority (Transportation Revenue)		0.30			06/01/2011		1,000,000		1,000,000
New York Metropolitan Transportation Authority (Transportation Revenue)		0.30			06/01/2011		2,000,000		2,000,000

									38,000,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes §: 1.52%
Abraham Joshua Hesehal School Series 2010 (Education Revenue, TD Bank NA LOC)		0.22	%		01/01/2040	$	5,000,000	$	5,000,000
City of New York NY Subseries B (GO - Local, TD Bank NA LOC)		0.23			09/01/2027		2,000,000		2,000,000
City of New York NY Subseries H-1 (GO - Local)		0.35			01/01/2036		3,000,000		3,000,000
City of NewYork NY Series J4 (GO - Local)		0.23			08/01/2025		5,000,000		5,000,000
Merrill Lynch PFOTER (Miscellaneous Revenue) ††		0.41			07/26/2012		1,000,000		1,000,000
New York PFOTER (Miscellaneous Revenue) ††		0.41			06/15/2053		15,000,000		15,000,000
New York City NY Housing Development Corporation (Housing Revenue, JPMorgan Chase Bank LOC)		0.23			01/01/2016		1,600,000		1,600,000
New York City NY Housing Development Corporation Mulitfamily Rental Housing The Balton Project Series A (Housing Revenue, Bank of America NA LOC, FHLMC Insured)		0.24			09/01/2049		4,000,000		4,000,000
New York City NY Housing Development Corporation Series H-2-A (Housing Revenue)		0.55			05/01/2013		3,000,000		3,000,000
New York City NY Municipal Water Finance Authority Series AA-2 (Water & Sewer Revenue)		0.35			06/15/2032		7,000,000		7,000,000
New York City NY Municipal Water Finance Authority Series B3 (Water & Sewer Revenue)		0.23			06/15/2025		1,000,000		1,000,000
New York City NY Municipal Water Finance Authority Series C (Water & Sewer Revenue)		0.35			06/15/2033		8,000,000		8,000,000
New York City NY Subseries C-4 (GO - Local, Bank of Tokyo-Mitsubishi UFJ LOC)		0.27			08/01/2020		12,000,000		12,000,000
New York City NY Transitional Financing Authority Class A (Miscellaneous Revenue, FSA-CR FGIC State Aid Withholding Insured)		0.27			07/15/2036		13,300,000		13,300,000
New York HFA Victory Housing Project Series 2000-A (Housing Revenue, FHLMC Insured)		0.23			11/01/2033		2,000,000		2,000,000
New York Metropolitan Transportation Authority ROC RR 11 R-11645 (Transportation Revenue, FSA Insured) ††		0.41			11/15/2025		5,415,000		5,415,000
New York State Housing Finance Agency Series A (Housing Revenue, FHLMC Insured)		0.23			11/01/2037		3,000,000		3,000,000
New York State Housing Finance Agency Series A (Housing Revenue)		0.26			05/01/2029		2,000,000		2,000,000
New York State Housing Finance Agency Taxable 600 West 42nd B (Housing Revenue, Bank of New York LOC)		0.34			11/01/2041		10,600,000		10,600,000
New York State Housing Finance Agency Victory Housing Series 2004-A (Housing Revenue, FHLMC Insured)		0.23			11/01/2033		10,400,000		10,400,000

									114,315,000

Ohio: 0.63%

Variable Rate Demand Notes §: 0.63%
Allen County OH Hospital Facilities Catholic Healthcare Series A (Hospital Revenue)		0.25			10/01/2031		5,000,000		5,000,000
Cleveland-Cuyahoga County OH Port Authority Carnagie 89th Garage & Service Center LLC Project Series 2007 (Health Revenue, JPMorgan Chase Bank LOC)		0.24			01/01/2037		21,255,000		21,255,000
Lake County OH Hospital Facilities Series A (Health Revenue, JPMorgan Chase Bank LOC)		0.26			08/15/2041		5,000,000		5,000,000
Ohio State HFA Residential Management Taxable Series I (Housing Revenue, GNMA/FNMA Insured)		0.22			09/01/2039		7,239,000		7,239,000
Ohio State University Hospitals Health System Incorporated Project Series 2008D (Education Revenue, JPMorgan Chase Bank LOC)		0.24			01/15/2035		4,000,000		4,000,000
Parma OH Community General Hospital Association Series 2006A (Health Revenue, JPMorgan Chase Bank LOC)		0.25			11/01/2029		4,755,000		4,755,000

									47,249,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Oregon: 0.04%

Variable Rate Demand Note §: 0.04%
Oregon Housing & Community Services Department Series E (Housing Revenue)		0.27	%		07/01/2038	$	3,000,000	$	3,000,000

Pennsylvania: 1.11%

Variable Rate Demand Notes §: 1.11%
Beaver County PA IDA FirstEnergy Nuclear Series B (IDR, Citibank NA LOC)		0.24			12/01/2035		4,000,000		4,000,000
Doylestown PA Hospital Authority Series B (Health Revenue, PNC Bank NA LOC)		0.25			07/01/2037		14,000,000		14,000,000
Geisinger Authority PA Health System Series B (Health Revenue)		0.23			08/01/2022		2,000,000		2,000,000
JPMorgan Chase PUTTER/DRIVER Trust 3827 (Miscellaneous Revenue) ††		0.29			06/30/2011		13,000,000		13,000,000
JPMorgan Chase PUTTER/DRIVER Trust Series 3826 (Miscellaneous Revenue) ††		0.28			06/30/2011		43,000,000		43,000,000
Philadelphia PA Authority For Industrial Development New Courtland Elder Services Project Series 2003 (IDR, PNC Bank NA LOC)		0.25			03/01/2027		4,000,000		4,000,000
Philadelphia PA Hospitals and HEFAR The Children’s Hospital of Philadelphia Project Series A (Hospital Revenue)		0.25			07/01/2041		2,000,000		2,000,000
Philadelphia PA Hospitals and HEFAR The Children’s Hospital of Philadelphia Project Series B (Hospital Revenue)		0.25			07/01/2041		1,000,000		1,000,000

									83,000,000

Rhode Island: 0.05%

Variable Rate Demand Note §: 0.05%
Rhode Island HEFA Brown University Issue Series A (Health Revenue)		0.21			05/01/2035		4,000,000		4,000,000

South Dakota: 0.03%

Variable Rate Demand Note §: 0.03%
South Dakota Housing Development Authority Series C (Housing Revenue, FNMA Insured)		0.25			05/01/2037		2,000,000		2,000,000

Tennessee: 0.38%

Other Municipal Debt: 0.08%
Montgomery County TN (GO - Local)		0.29			06/06/2011		6,000,000		6,000,000

Variable Rate Demand Notes §: 0.30%
Metropolitan Government Nashville & Davidson County TN Stewarts Ferry Apartments (Housing Revenue, FHLMC Insured)		0.24			01/01/2034		1,000,000		1,000,000
Metropolitan Government Nashville & Davidson County TN Weatherly Ridge Apartments Series A (Housing Revenue, U.S. Bank NA LOC)		0.29			12/01/2041		2,000,000		2,000,000
Montgomery County TN Public Building Authority Pooled Financing Revenue Tennessee County Loan Pool (Miscellaneous Revenue, Bank of America NA LOC)		0.28			07/01/2034		7,000,000		7,000,000
Montgomery County TN Public Building Authority Pooled Financing Revenue Tennessee County Loan Pool (Miscellaneous Revenue, Bank of America NA LOC)		0.28			02/01/2036		3,585,000		3,585,000
Tennessee Municipal Energy Acquisition Corporation (Utilities Revenue)		0.31			12/01/2016		9,065,000		9,065,000

									22,650,000

Texas: 2.10%

Other Municipal Debt: 0.04%
Texas Municipal Power Agency (Utilities Revenue)		0.30			08/09/2011		3,000,000		3,000,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes §: 2.06%
Austin TX Airport System Series A (Airport Revenue, State Street Bank & Trust Company LOC)		0.26	%		11/15/2017	$	3,000,000	$	3,000,000
Bexar County TX Health Facilities (Health Revenue, JPMorgan Chase Bank LOC)		0.28			12/01/2032		10,050,000		10,050,000
Gulf Coast Waste Disposal Authority Environmental Facilities Revenue Exxon Mobil Project Series A (Miscellaneous Revenue)		0.17			06/01/2030		3,000,000		3,000,000
Harris County TX Cultural Education Facilities Finance Corporation Hermann Health Series A (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		0.27			06/01/2038		5,000,000		5,000,000
Harris County TX Cultural Education Facilities Finance Corporation Hermann Health Series D1 (Hospital Revenue, JPMorgan Chase Bank LOC)		0.26			06/01/2029		7,000,000		7,000,000
Harris County TX Cultural Education Facilities Finance Corporation Hermann Health Series D2 (Health Revenue, JPMorgan Chase & Company LOC)		0.26			06/01/2029		5,000,000		5,000,000
Harris County TX Industrial Development Corporation Solid Waste Disposal Deer Park Refining Project Series A (Solid Waste Revenue)		0.23			03/01/2023		6,300,000		6,300,000
Houston TX Utilities System Series 2004B (Water & Sewer Revenue, State Street Bank & Trust Company LOC)		0.23			05/15/2034		6,000,000		6,000,000
JPMorgan Chase PUTTERs/DRIVERs Trust Series 3812 (Miscellaneous Revenue) ††		0.27			08/31/2011		47,000,000		47,000,000
Midlothian TX Industrial Development Corporation (IDR, UBS AG LOC)		0.21			08/01/2034		10,000,000		10,000,000
Mission TX Economic Development Corporation (Miscellaneous Revenue, Bank of America NA LOC)		0.29			04/01/2022		2,000,000		2,000,000
North Texas Higher Education Authority (Education Revenue, Bank of America NA LOC, Guaranteed Student Loans Insured)		0.28			12/01/2035		6,000,000		6,000,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series A (IDR)		0.26			04/01/2040		5,000,000		5,000,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series A (Energy Revenue)		0.26			11/01/2040		4,000,000		4,000,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series B (Energy Revenue)		0.25			12/01/2039		4,000,000		4,000,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series B (Energy Revenue)		0.26			12/01/2039		1,000,000		1,000,000
Texas State Taxable Product Development Program Series A (Miscellaneous Revenue)		0.23			06/01/2045		4,480,000		4,480,000
Tyler TX Health Facilities Development Corporation Mother Frances Hospital Series B (Hospital Revenue, Bank of America Corporation LOC)		0.35			07/01/2020		3,500,000		3,500,000
University of Texas System Series A (Education Revenue)		0.18			07/01/2037		22,000,000		22,000,000

									154,330,000

Vermont: 0.19%

Variable Rate Demand Note §: 0.19%
Vermont State Student Assistance Corporation (Education Revenue, Lloyds Bank LOC)		0.27			12/15/2040		14,000,000		14,000,000

Virginia: 0.07%

Variable Rate Demand Notes §: 0.07%
Harrisonburg VA Redevelopment & Housing Authority (Housing Revenue, Bank of America NA LOC)		0.29			05/01/2026		1,000,000		1,000,000
Norfolk VA Redevelopment & Housing Authority Old Dominion University Project (Housing Revenue)		0.26			08/01/2033		4,000,000		4,000,000

									5,000,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Washington: 0.10%

Variable Rate Demand Notes §: 0.10%
King County WA Housing Authority Series A (Housing Revenue, FHLMC Insured)		0.22	%		07/01/2035	$	2,879,000	$	2,879,000
Washington Housing Finance Commission Whisperwood Apartments Project Series A (Housing Revenue, FNMA Insured)		0.29			05/15/2035		4,650,000		4,650,000

									7,529,000


Wisconsin: 0.02%

Variable Rate Demand Note §: 0.02%
Wisconsin Housing & Economic Development Authority (Housing Revenue, FNMA Insured, GO of Authority Insured)		0.28			09/01/2035		1,735,000		1,735,000


Wyoming: 0.15%

Variable Rate Demand Note §: 0.15%
Sweetwater County WY Pacific Corporation Project Series A (Utilities Revenue, Barclays Bank plc LOC)		0.23			07/01/2015		11,000,000		11,000,000


Total Municipal Bonds and Notes (Cost $1,209,898,961)									1,209,898,961


Other Instruments: 1.64%
District of Columbia Variable Rate Demand Obligation Commercial Paper		0.28			05/06/2011		4,000,000		4,000,000
GBG LLC††§		0.30			09/01/2027		10,239,000		10,239,000
Illinois Educational Facilities Authority		0.30			06/13/2011		3,000,000		3,000,000
ING Bank NV††±		0.81			02/02/2012		20,000,000		20,000,000
ING Bank NV††±		0.82			02/10/2012		30,000,000		30,000,000
Port of Oakland CA Municipal Commercial Paper^		0.28			06/15/2011		5,970,000		5,967,884
Svenska Handlesbanken AB††±		0.50			07/01/2011		50,000,000		49,999,187

Total Other Instruments (Cost $123,206,071)									123,206,071


Other Notes: 8.40%

Corporate Bonds and Notes: 5.61%
ACTS Retirement Life Communities Incorporated§		0.18			11/15/2029		2,858,000		2,858,000
American Express Bank FSB±		1.21			12/09/2011		45,000,000		45,274,752
Bank of America Corporation±		1.00			12/02/2011		45,000,000		45,210,327
Bank of America Corporation±		1.13			12/02/2011		100,000,000		100,514,599
Baptist Hospital Incorporated§		0.29			02/01/2040		4,380,000		4,380,000
Bear Stearns & Companies Incorporated±		0.52			08/15/2011		7,000,000		7,003,048
Citigroup Funding Incorporated±		0.60			04/30/2012		17,000,000		17,066,188
Citigroup Funding Incorporated±		0.28			11/15/2011		1,000,000		999,651
General Electric Capital Corporation±		0.51			03/12/2012		18,000,000		18,038,268
General Electric Capital Corporation±		1.24			12/09/2011		35,000,000		35,210,152
Independence Place Fort Campbell Patriots LLC§		0.38			01/01/2040		2,355,000		2,355,000
JPMorgan Chase & Company±		0.42			05/16/2011		3,000,000		3,000,093
JPMorgan Chase & Company§±		0.54			06/15/2012		6,000,000		6,018,502
JPMorgan Chase & Company±		1.00			12/02/2011		50,000,000		50,233,485
LTF Real Estate LLC††§		0.30			06/01/2033		15,430,000		15,430,000
Morgan Stanley±		1.16			12/01/2011		2,000,000		2,010,618
PNC Funding Corporation±		0.59			06/22/2011		34,000,000		34,015,784
Seariver Maritime Incorporated(i)±		0.45			10/01/2011		1,900,000		1,900,000
State Street Bank & Trust Company±		0.51			09/15/2011		11,000,000		11,010,496
UBS AG±		1.41			02/23/2012		16,000,000		16,111,547
US Central Federal Credit Union±		0.27			10/19/2011		2,000,000		2,000,309

									420,640,819

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Secured Master Note Agreement: 2.72%
Bank of America Securities LLC§±		0.25	%		09/09/2034	$	137,500,000	$	137,500,000
Lloyds Bank plc§±		0.40			11/01/2011		66,000,000		66,000,000

									203,500,000

Yankee Corporate Bonds and Notes: 0.07%
Eksportfinans ASA±		0.28			09/22/2011		5,000,000		5,000,000

									5,000,000

Total Other Notes (Cost $629,140,819)									629,140,819


Repurchase Agreements(z): 2.43%
Barclays Capital Incorporated, dated 04/29/2011, maturity value $37,886,284 (1)		0.05			05/02/2011		37,886,126		37,886,126
Citibank NA, dated 04/29/2011, maturity value $58,000,290 (2)		0.06			05/02/2011		58,000,000		58,000,000
Deutsche Bank Securities, dated 04/29/2011, maturity value $38,000,158 (3)		0.05			05/02/2011		38,000,000		38,000,000
Societe Generale, dated 04/29/2011, maturity value $48,000,200 (4)		0.05			05/02/2011		48,000,000		48,000,000

Total Repurchase Agreements (Cost $181,886,126)									181,886,126


Treasury Debt: 3.09%
US Treasury Bill^		0.12			10/06/2011		91,000,000		90,952,377
US Treasury Bill^		0.15			08/25/2011		55,000,000		54,972,767
US Treasury Bill^		0.16			08/18/2011		56,000,000		55,972,280
US Treasury Bill^		0.18			08/11/2011		30,000,000		29,984,850

Total Treasury Debt (Cost $231,882,274)									231,882,274


Total Investments in Securities (Cost $7,536,176,044)*		100.57	%						7,536,176,044

Other Assets and Liabilities, Net		(0.57	)						(42,419,420	)


Total Net Assets		100.00	%					$	7,493,756,624

±	Variable rate investments.

††	Security that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

^	Zero coupon security. Rate represents yield to maturity.

§	These securities are subject to a demand feature which reduces the effective maturity.

(i)

Illiquid security

(z)

Collateralized by:

(1) U.S. government securities, 0.00% to 5.50%, 5/5/2011 to 2/20/2041, market value including accrued interest is $38,802,725.

(2) U.S. government securities, 3.00% to 12.50%, 5/1/2011 to 11/1/2049, market value including accrued interest is $59,740,000.

(3) U.S. government securities, 4.00% to 7.00%, 7/1/2024 to 3/20/2041, market value including accrued interest is $39,140,000.

(4) U.S. government securities, 1.75% to 7.00%, 11/1/2013 to 12/1/2047, market value including accrued interest is $49,440,000.

*	Cost for federal income tax purposes is substantially the same as for financial reporting purposes.

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PRIME INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date	Principal		Value
Certificates of Deposit: 28.45%
Abbey National Treasury Services		0.12	%	05/02/2011	$	82,000,000	$	82,000,000
Banco Bilbao Vizcaya Argentaria (London)		0.15		05/02/2011		72,000,000		72,000,000
Banco Del Estado De Chile plc		0.23		05/03/2011		10,000,000		10,000,000
Banco Santander (Madrid)		0.13		05/02/2011		52,000,000		52,000,000
Banco Santander (Madrid)		0.14		05/03/2011		30,000,000		30,000,000
Bank of Nova Scotia		0.28		05/31/2011		13,000,000		13,000,000
Barclays Bank plc±		0.78		08/12/2011		40,000,000		40,000,000
Barclays Bank plc (New York)±		0.62		04/16/2012		6,000,000		6,000,000
Barclays Bank plc (New York)±		0.68		01/17/2012		10,000,000		10,000,000
Barclays Bank plc (New York)±		0.71		10/24/2011		21,500,000		21,500,000
Bayer AG		0.14		05/03/2011		37,000,000		37,000,000
BNP Paribas		0.39		07/01/2011		13,000,000		13,000,000
Credit Agricole		0.11		05/02/2011		6,000,000		6,000,000
Credit Agricole		0.14		05/03/2011		7,000,000		7,000,000
Credit Agricole		0.14		05/03/2011		25,000,000		25,000,000
Credit Agricole		0.32		06/16/2011		12,000,000		12,000,000
Credit Agricole		0.37		07/11/2011		12,000,000		12,000,000
Credit Agricole		0.38		06/01/2011		10,000,000		10,000,000
Credit Agricole		0.51		06/06/2011		14,000,000		14,002,305
Credit Industriel et Commercial		0.41		05/16/2011		6,000,000		6,000,408
Danske Corporation		0.15		05/03/2011		27,000,000		27,000,000
DNB Nor Bank ASA		0.10		05/02/2011		85,000,000		85,000,000
Groupe BPCE		0.13		05/02/2011		57,000,000		57,000,000
HSBC Bank plc		0.11		05/02/2011		12,000,000		12,000,000
Intesa Sanpaolo SpA (London)		0.13		05/03/2011		11,000,000		11,000,000
KBC Bank NV Brussels		0.09		05/02/2011		90,000,000		90,000,000
Lloyds TSB Bank plc (London)		0.12		05/02/2011		3,000,000		3,000,000
National Bank of Canada±		0.41		10/07/2011		55,000,000		55,000,000
National Bank of Canada±		0.41		09/21/2011		10,000,000		10,000,000
Natixis Corporation		0.11		05/02/2011		16,000,000		16,000,000
Natixis Corporation		0.41		05/09/2011		8,000,000		8,000,015
Natixis Corporation±		0.54		07/07/2011		56,000,000		56,000,000
Norinchukin Bank		0.18		05/03/2011		4,000,000		4,000,000
Norinchukin Bank		0.18		05/06/2011		22,000,000		22,000,000
Rabobank Nederland NV		0.29		10/21/2011		28,000,000		28,000,000
Rabobank Nederland NV		0.31		04/24/2012		20,000,000		19,999,004
Rabobank Nederland NV±		0.32		12/06/2011		34,000,000		34,000,000
Royal Bank of Scotland plc±		0.44		10/31/2011		26,000,000		26,000,000
Royal Bank of Scotland plc±		0.53		09/13/2011		29,000,000		29,000,000
Skandinav Enskilda Banken		0.34		05/06/2011		5,000,000		5,000,000
Skandinav Enskilda Banken		0.35		05/23/2011		25,000,000		25,000,000
Societe Generale (New York)±		0.34		01/27/2012		9,000,000		9,000,000
Societe Generale (New York)		0.56		08/12/2011		50,000,000		50,000,000
Societe Generale (New York)±		1.71		05/05/2011		37,000,000		37,000,000
Sumitomo Mitsui Banking Corporation		0.16		05/06/2011		25,000,000		25,000,000
Sumitomo Mitsui Banking Corporation		0.17		05/05/2011		26,000,000		26,000,000
Sumitomo Mitsui Banking Corporation		0.17		05/05/2011		34,000,000		34,000,000
Sumitomo Mitsui Banking Corporation		0.18		05/03/2011		31,000,000		31,000,000
Sumitomo Mitsui Banking Corporation		0.19		05/02/2011		33,000,000		33,000,000
Sumitomo Mitsui Banking Corporation		0.19		05/02/2011		15,000,000		15,000,000
Svenska Handsbanken AB		0.10		05/02/2011		26,000,000		26,000,000
Svenska Handsbanken AB		0.28		06/15/2011		16,000,000		16,000,000
Svenska Handsbanken AB		0.28		06/06/2011		10,000,000		10,000,048

Total Certificates of Deposit (Cost $1,413,501,780)								1,413,501,780


Commercial Paper: 41.67%

Asset-Backed Commercial Paper: 21.95%
Amsterdam Funding Corporation††^		0.31		07/06/2011		14,000,000		13,991,911
Arabella Finance LLC††^		0.33		05/05/2011		7,000,000		6,999,679
Arabella Finance LLC††^		0.43		05/11/2011		3,000,000		2,999,610
Arabella Finance LLC††^		0.49		05/31/2011		2,000,000		1,999,162


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PRIME INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Asset-Backed Commercial Paper (continued)
Arabella Finance LLC††^		0.49	%		05/27/2011	$	19,000,000	$	18,993,008
Argento Funding Companies Limited††^		0.11			05/03/2011		18,000,000		17,999,835
Argento Funding Companies Limited††^		0.16			05/04/2011		7,000,000		6,999,876
Argento Funding Companies Limited††^		0.24			07/27/2011		10,000,000		9,994,028
Argento Funding Companies Limited††^		0.30			06/02/2011		4,000,000		3,998,898
Argento Funding Companies Limited††^		0.30			06/03/2011		10,000,000		9,997,156
Aspen Funding Corporation††^		0.29			06/16/2011		30,000,000		29,988,750
Atlantic Asset Securitization Corporation††^		0.14			05/04/2011		5,000,000		4,999,925
Atlantic Asset Securitization Corporation††^		0.26			05/23/2011		12,000,000		11,998,040
Atlantis One Funding Corporation††^		0.23			05/12/2011		21,000,000		20,998,367
Barton Capital Corporation††^		0.23			05/09/2011		3,000,000		2,999,831
Belmont Funding LLC††^		0.00			05/02/2011		3,000,000		3,000,000
CAFCO LLC††^		0.27			05/19/2011		16,000,000		15,997,733
CAFCO LLC††^		0.27			05/23/2011		5,000,000		4,999,125
Cancara Asset Securitisation LLC††^		0.19			05/05/2011		5,000,000		4,999,871
Cancara Asset Securitisation LLC††^		0.19			05/12/2011		10,000,000		9,999,361
Cancara Asset Securitisation LLC††^		0.24			05/09/2011		4,000,000		3,999,759
Cancara Asset Securitisation LLC††^		0.27			05/16/2011		5,000,000		4,999,397
Cancara Asset Securitisation LLC††^		0.27			05/17/2011		20,000,000		19,997,417
Cancara Asset Securitisation LLC††^		0.34			06/28/2011		5,000,000		4,997,229
Cancara Asset Securitisation LLC††^		0.34			06/29/2011		5,000,000		4,997,181
Charta LLC††^		0.27			05/19/2011		19,000,000		18,997,308
Ciesco LLC††^		0.27			05/19/2011		8,000,000		7,998,867
Concord Minutemen Capital Company††^		0.32			05/10/2011		10,000,000		9,999,111
Concord Minutemen Capital Company††^		0.33			05/11/2011		2,000,000		1,999,800
Concord Minutemen Capital Company††^		0.35			05/17/2011		4,000,000		3,999,333
Concord Minutemen Capital Company††^		0.36			05/19/2011		5,000,000		4,999,056
Concord Minutemen Capital Company††^		0.37			05/26/2011		7,000,000		6,998,133
CRC Funding LLC††^		0.27			06/13/2011		9,000,000		8,997,060
Crown Point Capital Company††^		0.00			05/02/2011		8,000,000		8,000,000
Crown Point Capital Company††^		0.33			05/11/2011		7,000,000		6,999,300
Crown Point Capital Company††^		0.34			05/13/2011		27,000,000		26,996,700
Crown Point Capital Company††^		0.35			05/16/2011		5,000,000		4,999,222
Crown Point Capital Company††^		0.36			05/18/2011		5,000,000		4,999,111
Crown Point Capital Company††^		0.37			05/23/2011		7,000,000		6,998,367
Crown Point Capital Company††^		0.38			06/03/2011		3,000,000		2,998,933
Ebbets Funding LLC††^		0.00			05/02/2011		12,000,000		12,000,000
Gemini Securitization Corporation LLC††^		0.10			05/03/2011		10,000,000		9,999,917
Gemini Securitization Corporation LLC††^		0.15			05/04/2011		7,000,000		6,999,883
Gemini Securitization Corporation LLC††^		0.28			06/02/2011		5,000,000		4,998,708
Govco LLC††^		0.23			07/22/2011		1,000,000		999,460
Govco LLC††^		0.23			07/25/2011		1,000,000		999,440
Govco LLC††^		0.28			06/13/2011		23,000,000		22,992,218
Govco LLC††^		0.28			06/15/2011		31,000,000		30,989,012
Grampian Funding LLC††^		0.16			05/04/2011		10,000,000		9,999,822
Grampian Funding LLC††^		0.19			05/05/2011		14,000,000		13,999,627
Grampian Funding LLC††^		0.29			06/08/2011		10,000,000		9,996,814
Grampian Funding LLC††^		0.30			06/14/2011		7,000,000		6,997,408
Kells Funding LLC††^		0.26			05/09/2011		10,000,000		9,999,358
Kells Funding LLC††±		0.35			11/29/2011		40,000,000		40,000,000
Legacy Capital Company††^		0.33			05/12/2011		7,000,000		6,999,222
Lexington Parker Capital††^		0.00			05/02/2011		10,000,000		10,000,000
Lexington Parker Capital††^		0.31			05/09/2011		4,000,000		3,999,689
Lexington Parker Capital††^		0.33			05/12/2011		5,000,000		4,999,444
Lexington Parker Capital††^		0.36			05/18/2011		7,000,000		6,998,756
Lexington Parker Capital††^		0.37			05/24/2011		6,000,000		5,998,533
Lexington Parker Capital††^		0.37			05/25/2011		13,000,000		12,996,678
LMA Americas LLC††^		0.20			05/20/2011		2,000,000		1,999,780
LMA Americas LLC††^		0.23			06/20/2011		5,000,000		4,998,367
LMA Americas LLC††^		0.24			07/20/2011		8,000,000		7,995,611
LMA Americas LLC††^		0.24			07/22/2011		5,000,000		4,997,188


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PRIME INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Asset-Backed Commercial Paper (continued)
LMA Americas LLC††^		0.24			07/27/2011	$	3,000,000	$	2,998,208
LMA Americas LLC††^		0.24	%		07/28/2011		6,000,000		5,996,375
LMA Americas LLC††^		0.27			07/15/2011		32,000,000		31,981,582
LMA Americas LLC††^		0.29			05/27/2011		2,000,000		1,999,569
Matchpoint Master Trust††^		0.18			05/27/2011		40,000,000		39,994,723
Mont Blanc Capital Corporation††^		0.25			05/13/2011		8,000,000		7,999,267
Mont Blanc Capital Corporation††^		0.28			06/07/2011		12,000,000		11,996,400
Mont Blanc Capital Corporation††^		0.29			06/14/2011		2,000,000		1,999,283
Nieuw Amsterdam Receivables Corporation††^		0.10			05/03/2011		6,000,000		5,999,950
Nieuw Amsterdam Receivables Corporation††^		0.23			05/09/2011		14,000,000		13,999,183
Nieuw Amsterdam Receivables Corporation††^		0.25			08/01/2011		4,000,000		3,997,472
Nieuw Amsterdam Receivables Corporation††^		0.25			07/12/2011		15,000,000		14,992,456
Northern Pines Funding LLC††^		0.29			07/15/2011		42,000,000		41,974,100
Northern Pines Funding LLC††^		0.31			08/23/2011		8,000,000		7,992,216
Regency Markets #1 LLC††^		0.11			05/06/2011		6,000,000		5,999,893
Regency Markets #1 LLC††^		0.18			05/25/2011		12,000,000		11,998,467
Rhein-Main Security Limited††^		0.34			05/27/2011		5,000,000		4,998,715
Rheingold Securitization††^		0.46			05/16/2011		12,000,000		11,997,573
Rheingold Securitization††^		0.47			07/11/2011		5,000,000		4,995,333
Romulus Funding Corporation††^		0.30			05/25/2011		5,000,000		4,998,946
Romulus Funding Corporation††^		0.31			05/27/2011		5,000,000		4,998,854
Scaldis Capital LLC††^		0.13			05/04/2011		28,000,000		27,999,611
Scaldis Capital LLC††^		0.15			05/05/2011		17,000,000		16,999,646
Scaldis Capital LLC††^		0.19			05/24/2011		7,000,000		6,999,101
Solitaire Funding LLC††^		0.23			05/09/2011		31,000,000		30,998,192
Solitaire Funding LLC††^		0.24			07/27/2011		8,000,000		7,995,222
Solitaire Funding LLC††^		0.27			05/17/2011		8,000,000		7,998,967
Solitaire Funding LLC††^		0.29			06/10/2011		3,000,000		2,999,025
Solitaire Funding LLC††^		0.29			06/13/2011		20,000,000		19,993,000
Starbird Funding Corporation††^		0.28			06/13/2011		3,000,000		2,998,985
Sydney Capital Corporation††^		0.37			06/10/2011		4,000,000		3,998,310
Sydney Capital Corporation††^		0.38			06/14/2011		10,000,000		9,995,222
Tasman Funding Incorporated††^		0.17			05/04/2011		2,000,000		1,999,963
Tasman Funding Incorporated††^		0.27			06/23/2011		12,500,000		12,494,944
Tasman Funding Incorporated††^		0.29			05/17/2011		4,000,000		3,999,450
Tasman Funding Incorporated††^		0.29			05/18/2011		5,000,000		4,999,267
Tasman Funding Incorporated††^		0.31			05/24/2011		3,000,000		2,999,377
Tasman Funding Incorporated††^		0.33			06/14/2011		16,000,000		15,993,837
Thames Asset Global Securitization††^		0.28			06/20/2011		38,510,000		38,494,799
Thames Asset Global Securitization††^		0.47			06/07/2011		5,000,000		4,997,500

									1,090,743,368


Financial Company Commerical Paper: 17.00%
ABN AMRO Funding USA LLC††^		0.23			06/28/2011		10,000,000		9,996,200
Alaska Housing Finance Corporation^		0.28			05/17/2011		2,000,000		1,999,733
ANZ National Limited††±		0.40			09/13/2011		27,000,000		27,000,000
ASB Finance Limited††±		0.40			12/05/2011		18,000,000		18,000,000
ASB Finance Limited††±		0.40			12/02/2011		18,000,000		18,000,000
ASB Finance Limited††±		0.41			09/02/2011		20,000,000		20,000,000
Banco Bilbao Vizcaya Argentaria (London)††^		0.23			05/09/2011		9,000,000		8,999,475
BGL BNP Paribas SA^		0.34			06/16/2011		21,000,000		20,990,813
BNP Paribas Finance Incorporated^		0.33			06/03/2011		23,000,000		22,992,844
BNP Paribas Finance Incorporated^		0.33			06/09/2011		5,000,000		4,998,153
BNP Paribas Finance Incorporated^		0.38			07/08/2011		5,000,000		4,996,371
BNP Paribas Finance Incorporated^		0.38			07/18/2011		21,000,000		20,982,483
BNZ International Funding Limited††±		0.38			10/12/2011		11,000,000		11,000,247
BNZ International Funding Limited		0.39			10/07/2011		3,000,000		2,999,996
BNZ International Funding Limited††±		0.41			09/01/2011		21,000,000		21,000,289
BPCE SA††^		0.20			05/04/2011		7,000,000		6,999,844
BPCE SA††^		0.37			06/08/2011		10,000,000		9,995,992
BPCE SA††^		0.38			06/16/2011		6,000,000		5,997,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PRIME INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date	Principal		Value
Financial Company Commerical Paper (continued)
Danske Corporation††^		0.31		06/08/2011	$	2,000,000	$	1,999,322
Danske Corporation††^		0.35		05/31/2011		12,000,000		11,996,423
Erste Finance LLC††^		0.09	%	05/04/2011		48,000,000		47,999,547
Fortis Funding LLC††^		0.34		06/15/2011		21,000,000		20,991,017
ICICI Bank Limited^		0.64		09/16/2011		14,000,000		13,965,369
ING US Funding LLC^		0.31		06/29/2011		23,000,000		22,988,142
Macquarie Bank Limited††^		0.40		06/29/2011		5,000,000		4,996,697
Macquarie Bank Limited††^		0.40		07/05/2011		20,000,000		19,985,422
Macquarie Bank Limited††^		0.40		07/11/2011		16,000,000		15,987,244
Macquarie Bank Limited††^		0.40		07/12/2011		16,000,000		15,987,062
Mizuho Funding LLC††^		0.12		05/06/2011		10,000,000		9,999,800
Nationwide Building Society††^		0.28		05/11/2011		8,000,000		7,999,320
Nationwide Building Society††^		0.32		06/27/2011		45,000,000		44,976,900
PB Financing Incorporated††^		0.47		05/11/2011		3,000,000		2,999,573
PB Financing Incorporated††^		0.49		07/29/2011		7,000,000		6,991,444
PB Financing Incorporated††^		0.51		05/19/2011		8,000,000		7,997,847
PB Financing Incorporated††^		0.52		05/23/2011		5,000,000		4,998,338
PB Financing Incorporated††^		0.53		05/26/2011		5,000,000		4,998,100
PB Financing Incorporated††^		0.54		06/07/2011		12,000,000		11,993,160
PB Financing Incorporated††^		0.54		06/09/2011		5,000,000		4,996,992
PB Financing Incorporated††^		0.54		06/10/2011		12,000,000		11,992,590
PB Financing Incorporated††^		0.55		06/15/2011		1,000,000		999,303
Prudential plc††^		0.32		06/02/2011		6,000,000		5,998,243
Prudential plc††^		0.32		06/08/2011		3,000,000		2,998,952
Prudential plc††^		0.33		06/14/2011		9,000,000		8,996,345
Prudential plc††^		0.34		07/05/2011		19,000,000		18,988,177
Prudential plc††^		0.34		07/06/2011		16,000,000		15,989,889
RBS Holdings USA Incorporated††^		0.27		05/11/2011		12,000,000		11,999,010
RBS Holdings USA Incorporated††^		0.29		05/24/2011		26,000,000		25,994,916
Skandinaviska Enskilda Banken AB††^		0.29		05/13/2011		5,000,000		4,999,481
Suncorp-Metway Limited††^		0.30		05/05/2011		55,000,000		54,997,708
Suncorp-Metway Limited††^		0.45		05/17/2011		11,000,000		10,997,663
Suncorp-Metway Limited††^		0.49		06/09/2011		3,000,000		2,998,385
Swedbank AB^		0.26		07/28/2011		14,000,000		13,990,865
Swedbank AB^		0.26		07/29/2011		26,000,000		25,982,840
Swedbank AB^		0.26		08/03/2011		14,000,000		13,990,235
Swedbank AB^		0.26		08/04/2011		14,000,000		13,990,130
Swedbank AB^		0.36		05/27/2011		9,000,000		8,997,594
Swedbank AB^		0.36		05/31/2011		9,000,000		8,997,209
Westpac Securities NZ Limited††±		0.37		10/13/2011		28,000,000		28,000,000
Westpac Securities NZ Limited††±		0.38		08/19/2011		31,000,000		31,000,000

								844,696,694

Other Commercial Paper: 2.72%
ACTS Retirement Life Communities Incorporated^		0.29		06/16/2011		2,000,000		1,999,250
Caisse d’Amortissement de la Dette Sociale††^		0.22		05/10/2011		22,000,000		21,998,631
Caisse d’Amortissement de la Dette Sociale††^		0.25		05/16/2011		10,000,000		9,998,911
Caisse d’Amortissement de la Dette Sociale††^		0.25		05/17/2011		20,000,000		19,997,667
Caisse d’Amortissement de la Dette Sociale††^		0.26		05/31/2011		20,000,000		19,995,489
Caisse d’Amortissement de la Dette Sociale††^		0.27		06/09/2011		5,000,000		4,998,522
EDF SA††^		0.00		05/02/2011		23,000,000		23,000,000
European Investment Bank^		0.24		06/24/2011		8,000,000		7,997,056
European Investment Bank^		0.25		06/29/2011		5,000,000		4,997,906
GDF Suez††^		0.28		06/09/2011		2,000,000		1,999,388
GDF Suez††^		0.28		06/20/2011		2,000,000		1,999,211
GDF Suez††^		0.29		06/13/2011		5,000,000		4,998,250
Statens Bostadsfin††^		0.17		05/03/2011		5,000,000		4,999,931


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PRIME INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Other Commercial Paper (Continued)

Statens Bostadsfin††^		0.25			05/04/2011	$	6,000,000	$	5,999,833

									134,980,045


Total Commercial Paper (Cost $2,070,420,107)									2,070,420,107


Government Agency Debt: 0.60%
FHLMC±		0.16	%		02/02/2012		30,000,000		29,981,740

Total Government Agency Debt (Cost $29,981,740)									29,981,740


Municipal Bonds and Notes: 14.59%

Alabama: 1.01%

Variable Rate Demand Notes§: 1.01%
Lower Alabama Gas District Supply Revenue Series A (Utilities Revenue, Societe Generale LOC)		0.27			11/01/2027		5,000,000		5,000,000
Mobile AL Infirmary Health System Special Care Facilities Series A (Hospital Revenue)		0.25			02/01/2040		10,000,000		10,000,000
Southeast Alabama Gas District Alabama Supply Project Series 2007-A (Utilities Revenue)		0.24			08/01/2027		35,000,000		35,000,000

									50,000,000


California: 2.40%

Other Municipal Debt: 0.56%
City of San Francisco CA (Miscellaneous Revenue)		0.30			06/08/2011		5,000,000		5,000,000
City of San Jose CA (Miscellaneous Revenue)		0.22			05/03/2011		6,000,000		6,000,000
City of San Jose CA (Miscellaneous Revenue)		0.25			05/13/2011		9,000,000		9,000,000
City of San Jose CA (Miscellaneous Revenue)		0.25			07/14/2011		2,000,000		2,000,000
City of San Jose CA (Miscellaneous Revenue)		0.25			07/14/2011		3,000,000		3,000,000
Los Angeles CA Department of Airports (Airport Revenue) ^		0.00			05/02/2011		3,000,000		3,000,000

									28,000,000


Variable Rate Demand Notes§: 1.84%
ABAG Finance Authority for Nonprofit Corporation CA Marin Country Day School (Education Revenue, U.S. Bank NA LOC)		0.30			07/01/2037		1,000,000		1,000,000
Big Bear Lake CA Southwest Gas Corporation Project Series A (Utilities Revenue)		0.28			12/01/2028		2,000,000		2,000,000
California HFA Program Series A (Housing Revenue, FNMA LOC)		0.24			08/01/2036		3,000,000		3,000,000
California HFFA Catholic Healthcare Series L (Health Revenue)		0.24			07/01/2033		3,000,000		3,000,000
California State Series A Subseries C-2 (GO - State)		0.24			05/01/2033		1,000,000		1,000,000
Loma Linda CA Loma Linda University Series B (Education Revenue)		0.26			12/01/2037		5,000,000		5,000,000
Los Angeles CA Wastewater Systems Sub-Series F-1 (Water & Sewer Revenue)		0.24			06/01/2028		7,000,000		7,000,000
Los Angeles CA Wastewater Systems Sub-Series F-2 (Water & Sewer Revenue)		0.24			06/01/2032		4,515,000		4,515,000
Newport Beach CA Hoag Memorial Hospital Series F (Health Revenue)		0.24			12/01/2040		11,000,000		11,000,000
Riverside CA COP Riverside Renaissance Project Series 2008 (Lease Revenue)		0.24			03/01/2037		17,690,000		17,690,000
Sacramento County CA Sanitation District Financing Authority Subordinate Lien Sacramento Regulation Series C (Water & Sewer Revenue, Bank of America NA LOC)		0.25			12/01/2030		21,140,000		21,140,000
San Francisco CA City & County Redevelopment Agency (Lease Revenue) ††		0.26			11/01/2041		1,000,000		1,000,000
San Jose CA Financing Authority Taxable Land Series F (Lease Revenue)		0.20			06/01/2034		11,000,000		11,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PRIME INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (continued)
Tustin CA USD Special Tax Community Facilities District # 07-1 (Tax Revenue)		0.24			09/01/2050	$	3,000,000	$	3,000,000

									91,345,000


Colorado: 0.59%

Variable Rate Demand Notes§: 0.59%
Colorado HFA Taxable Multiple Family Project B 2 (Housing Revenue, FNMA Insured)		0.21			05/01/2050		9,830,000		9,830,000
Colorado Housing & Finance Authority Class I-B1 (Housing Revenue)		0.27			10/01/2038		14,485,000		14,485,000
Colorado Springs CO Utility Improvement Bond Series A (Utilities Revenue)		0.26			11/01/2038		1,000,000		1,000,000
Denver CO Public Schools Series A-4 (Education Revenue)		0.17	%		12/15/2037	$	4,000,000		4,000,000

									29,315,000


Delaware: 0.22%

Variable Rate Demand Notes§: 0.22%
Delaware State Economic Development Agency Clean Power Project Series 1997-C (Energy Revenue)		0.25			08/01/2029		2,000,000		2,000,000
Delaware State Economic Development Agency Clean Power Project Series 1997-D (Resource Recovery Revenue)		0.28			08/01/2029		3,000,000		3,000,000
Delaware State Economic Development Authority Series B (Resource Recovery Revenue)		0.28			08/01/2029		6,000,000		6,000,000

									11,000,000


District of Columbia: 0.34%

Variable Rate Demand Notes§: 0.34%
District of Columbia Ballpark Series B2 (Miscellaneous Revenue, Bank of America LOC)		0.29			02/01/2036		2,925,000		2,925,000
District of Columbia The American University Series A (Education Revenue)		0.25			04/01/2038		1,000,000		1,000,000
Metropolitan Washington DC Airports Authority Subseries D-1 (Airport Revenue)		0.25			10/01/2039		12,785,000		12,785,000

									16,710,000


Florida: 0.10%

Other Municipal Debt: 0.10%
Hillsborough County FL (Miscellaneous Revenue)		0.30			05/13/2011		5,000,000		5,000,000


Illinois: 0.48%

Variable Rate Demand Notes§: 0.48%
Cook County IL GO Series D-2 (GO-Local)		0.21			11/01/2030		3,600,000		3,600,000
Cook County IL Series D-1 (GO-Local)		0.21			11/01/2030		6,400,000		6,400,000
Illinois Educational Facilities Authority (Education Revenue)		0.30			06/13/2011		2,000,000		2,000,000
Illinois Finance Authority (Education Revenue)		0.21			07/01/2038		11,748,000		11,748,000

									23,748,000


Indiana: 0.06%

Variable Rate Demand Note§: 0.06%
Richmond IN Reid Hospital & Health Care Services Incorporated (Hospital Revenue)		0.28			01/01/2040		2,935,000		2,935,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PRIME INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Iowa: 0.30%

Variable Rate Demand Note§: 0.30%
Iowa Financial Authority SFMR Series C (GO - State)		0.17			01/01/2039	$	15,000,000	$	15,000,000

Louisiana: 0.26%

Variable Rate Demand Notes§: 0.26%
Louisiana Stadium & Exposition PFOTER (Miscellaneous Revenue) ††		0.41			07/01/2036		9,000,000		9,000,000
Parish of St. James LA Series A-1 (Energy Revenue)		0.28			11/01/2040		2,000,000		2,000,000
Parish of St. James LA Series B-1 (Energy Revenue)		0.28			11/01/2040		2,000,000		2,000,000

									13,000,000

Maryland: 0.50%

Other Municipal Debt: 0.32%
Montgomery County MD (Miscellaneous Revenue)		0.28	%		06/06/2011		4,750,000		4,750,000
Montgomery County MD (Miscellaneous Revenue)		0.28			05/04/2011		6,500,000		6,500,000
Montgomery County MD (Miscellaneous Revenue)		0.28			06/06/2011		4,750,000		4,750,000

									16,000,000

Variable Rate Demand Notes§: 0.18%
Baltimore MD Package Systems Facilities (Transportation Revenue)		0.20			07/01/2032		4,840,000		4,840,000
Maryland CDA Department of Housing & Community Development Series 2007-J (Housing Revenue)		0.27			09/01/2031		3,945,000		3,945,000

									8,785,000

Massachusetts: 0.83%

Variable Rate Demand Notes§: 0.83%
Massachusetts State Department of Transportation Metro Highway Systems Contract Assistance Series A-5 (GO - State)		0.21			01/01/2039		10,845,000		10,845,000
Massachusetts State Department of Transportation Series A6 (Transportation Revenue)		0.25			01/01/2029		10,000,000		10,000,000
Massachusetts State HEFA (Health Revenue, JPMorgan Chase Bank LOC)		0.23			10/01/2049		1,000,000		1,000,000
Massachusetts State HEFA (Education Revenue)		0.27			10/01/2034		10,930,000		10,930,000
Massachusetts Water Resources Authority Series E (Water & Sewer Revenue)		0.25			08/01/2037		8,435,000		8,435,000

									41,210,000

Michigan: 0.04%

Variable Rate Demand Note§: 0.04%
Wayne County Industrial Development Authority (IDR, Bank of America NA LOC)		0.37			05/01/2020		2,000,000		2,000,000

Minnesota: 0.37%

Variable Rate Demand Notes§: 0.37%
Minnesota State HFA Residential Housing Series E (Housing Revenue, GO of Agency Insured)		0.21			07/01/2038		8,380,000		8,380,000
Minnesota State HFA Residential Housing Series T (Housing Revenue, GO of Agency Insured)		0.21			07/01/2048		10,160,000		10,160,000

									18,540,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PRIME INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Mississippi: 0.37%

Variable Rate Demand Note§: 0.37%
Mississippi State GO Bonds Nissan North America Incorporated Project Series 2003A (Tax Revenue, GO of Commonwealth Insured)		0.20			11/01/2028	$	18,295,000	$	18,294,263


Missouri: 0.14%

Variable Rate Demand Note§: 0.14%
Missouri Development Finance Board Nelson Gallery Foundation (Miscellaneous Revenue)		0.26			12/01/2037		7,000,000		7,000,000


Nevada: 0.20%

Variable Rate Demand Notes§: 0.20%
Las Vegas NV Economic Development Andre Agassi Foundation Project (Education Revenue, Bank of America LOC)		0.23			10/01/2035		8,000,000		8,000,000

Variable Rate Demand Notes (continued)
Reno NV Senior Lien Transportation Rail Access Corridor Project Series 2008A (Tax Revenue, Bank of New York LOC)		0.26	%		06/01/2042		2,000,000		2,000,000

									10,000,000


New Jersey: 0.78%

Variable Rate Demand Notes§: 0.78%
JPMorgan Chase PUTTER/DRIVER Trust Series 3889 (Utilities Revenue) ††		0.27			06/23/2011		2,000,000		2,000,000
New Jersey Economic Development Authority NUI Corporation Project Series A (Energy Revenue, JPMorgan Chase Bank LOC)		0.27			06/01/2026		3,000,000		3,000,000
New Jersey Economic Development Authority Pivotal Utility Holdings Incorporated Project Series 2007 (Energy Revenue, JPMorgan Chase Bank LOC)		0.27			06/01/2032		10,600,000		10,600,000
New Jersey HFFA Princeton Healthcare System Issue Series 2010A (Hospital Revenue, Bank of America NA LOC)		0.26			07/01/2041		17,000,000		17,000,000
New Jersey State Turnpike Authority Series D (Miscellaneous Revenue, Societe Generale LOC, NATL-RE FGIC Insured)		0.28			01/01/2018		6,000,000		6,000,000

									38,600,000


New York: 1.04%

Other Municipal Debt: 0.16%
New York Metropolitan Transportation Authority (Transportation Revenue)		0.30			05/03/2011		8,000,000		8,000,000


Variable Rate Demand Notes§: 0.88%
New York NY Subseries L5 (GO - Local)		0.50			04/01/2035		4,000,000		4,000,000
New York NY Subseries H-1 (GO - Local)		0.35			01/01/2036		2,000,000		2,000,000
New York City NY Housing Development Corporation Mortgage Thessalonica Courst A (Housing Revenue, Citibank NA LOC)		0.28			01/01/2036		3,940,000		3,940,000
New York City NY Housing Development Corporation Series H-2-A (Housing Revenue)		0.55			05/01/2013		5,000,000		5,000,000
New York City NY Municipal Water Finance Authority Series AA-2 (Water & Sewer Revenue)		0.35			06/15/2032		5,000,000		5,000,000
New York City NY Municipal Water Finance Authority Series B3 (Water & Sewer Revenue)		0.23			06/15/2025		5,000,000		5,000,000
New York City NY Municipal Water Finance Authority Series C (Water & Sewer Revenue)		0.35			06/15/2033		6,000,000		6,000,000
New York City NY Subseries B (GO - Local, TD Bank NA LOC)		0.23			09/01/2027		1,000,000		1,000,000
New York Homeowner Mortgage Agency Series 142 (Housing Revenue)		0.35			10/01/2037		3,000,000		3,000,000
New York Metropolitan Transportation Authority ROC RR 11 R-11645 (Transportation Revenue, FSA Insured) ††		0.41			11/15/2025		4,515,000		4,515,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PRIME INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Variable Rate Demand Notes (Continued)
New York State Housing Finance Agency Victory Housing Series 2004-A (Housing Revenue, FHLMC Insured)		0.23			11/01/2033	$	2,000,000	$	2,000,000
New York State Mortgage Agency Homeowner Mortgage Series 132 (Housing Revenue)		0.55			04/01/2037		2,000,000		2,000,000

									43,455,000

Oregon: 0.22%

Variable Rate Demand Notes§: 0.22%
Forest City OR Residential Management Incorporated PFOTER (Miscellaneous Revenue) ††		0.41			07/26/2012		7,000,000		7,000,000
Oregon Housing & Community Services Department Series E (Housing Revenue)		0.27			07/01/2038		4,000,000		4,000,000

									11,000,000

Pennsylvania: 1.38%

Variable Rate Demand Notes§: 1.38%
JPMorgan Chase PUTTER/DRIVER Trust (Education Revenue) ††		0.29	%		06/30/2011	$	9,000,000		9,000,000
JPMorgan Chase PUTTER/DRIVER Trust Series 3826 (Miscellaneous Revenue) ††		0.28			06/30/2011		43,300,000		43,300,000
Lancaster County PA Hospital Authority Health System Lancaster General Hospital (Hospital Revenue, Bank of America NA LOC)		0.25			07/01/2041		9,400,000		9,400,000
Pennsylvania Housing Finance Agency Series 85C (Housing Revenue, FNMA LOC, GO of Agency Insured)		0.25			10/01/2035		5,000,000		5,000,000
Philadelphia PA Authority For Industrial Development New Courtland Elder Services Project Series 2003 (IDR, PNC Bank NA LOC)		0.25			03/01/2027		2,000,000		2,000,000

									68,700,000

South Dakota: 0.28%

Variable Rate Demand Notes§: 0.28%
South Dakota Housing Development Authority Series C (Housing Revenue, FNMA Insured)		0.25			05/01/2037		3,000,000		3,000,000
South Dakota State HEFA Avera Health Subseries A1 (Health Revenue, U.S. Bank NA LOC)		0.26			07/01/2038		10,725,000		10,725,000

									13,725,000


Tennessee: 0.61%

Other Municipal Debt: 0.22%
Montgomery County TN (GO - Local)		0.29			06/06/2011		11,000,000		11,000,000


Variable Rate Demand Notes§: 0.39%
Johnson City TN Health & Educational Facilities Board (Health Revenue, PNC Bank NA LOC)		0.25			07/01/2033		8,000,000		8,000,000
Johnson City TN Health & Educational Facilities Board (Health Revenue, U.S. Bank NA LOC)		0.27			07/01/2033		4,000,000		4,000,000
Montgomery County TN Public Building Authority Pooled Financing Revenue Tennessee County Loan Pool (Miscellaneous Revenue, Bank of America NA LOC)		0.28			07/01/2034		4,885,000		4,885,000
Montgomery County TN Public Building Authority Pooled Financing Revenue Tennessee County Loan Pool (Miscellaneous Revenue, Bank of America NA LOC)		0.28			02/01/2036		2,690,000		2,690,000

									19,575,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PRIME INVESTMENT MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Texas: 1.56%

Other Municipal Debt: 0.04%
Texas Municipal Power Agency (Utilities Revenue)		0.30			08/09/2011	$	2,000,000	$	2,000,000


Variable Rate Demand Notes§: 1.52%
Austin TX Airport System Series A (Airport Revenue, State Street Bank & Trust Company LOC)		0.26			11/15/2017		1,000,000		1,000,000
Harris County TX Cultural Education Facilities Finance Corporation Hermann Health Series A (Miscellaneous Revenue, JPMorgan Chase Bank LOC)		0.27			06/01/2038		5,000,000		5,000,000
Harris County TX Industrial Development Corporation Solid Waste Disposal Deer Park Refining Project Series A (Solid Waste Revenue)		0.23			03/01/2023		5,600,000		5,600,000
JPMorgan Chase PUTTERs/DRIVERs Trust Series 3812 (Miscellaneous Revenue) ††		0.27			08/31/2011		45,000,000		45,000,000
Mission TX Economic Development Corporation (Miscellaneous Revenue, Bank of America NA LOC)		0.29			04/01/2022		3,000,000		3,000,000
North Texas Tollway Authority (Transportation Revenue, JPMorgan Chase Bank LOC)		0.24			01/01/2049		7,000,000		7,000,000
Pasadena TX Independent School District Series B (Education Revenue)		0.46			02/01/2035		1,000,000		1,000,000

Variable Rate Demand Notes (continued)
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series A (Energy Revenue)		0.26	%		11/01/2040		3,000,000		3,000,000
Port Arthur TX Naval District Environmental Facilities Motiva Enterprises Project Series B (Energy Revenue)		0.25			12/01/2039		2,000,000		2,000,000
Texas State Taxable Product Development Program Series A (Miscellaneous Revenue)		0.23			06/01/2045		3,000,000		3,000,000

									75,600,000

Washington: 0.12%

Other Municipal Debt: 0.08%
Providence WA Health and Services (Health Revenue)		0.37			05/18/2011		4,000,000		4,000,000

Variable Rate Demand Note§: 0.04%
King County WA Housing Authority Series A (Housing Revenue, FHLMC Insured)		0.22			07/01/2035		1,924,000		1,924,000

Wisconsin: 0.37%

Variable Rate Demand Notes§: 0.37%
Wisconsin Housing & Economic Development Authority (Housing Revenue, GO of Authority Insured)		0.23			05/01/2030		6,940,000		6,940,000
Wisconsin Housing & Economic Development Authority (Housing Revenue, GO of Authority Insured)		0.23			11/01/2030		8,865,000		8,865,000
Wisconsin Housing & Economic Development Authority (Housing Revenue, FNMA Insured, GO of Authority Insured)		0.28			09/01/2035		2,600,000		2,600,000

									18,405,000

Wyoming: 0.02%

Variable Rate Demand Note§: 0.02%
Wyoming Student Loan Corporation Series A-1 (Education Revenue)		0.26			06/01/2035		960,000		960,000

Total Municipal Bonds and Notes (Cost $724,826,263)									724,826,263

Other Instruments: 0.28%
ING Bank NV ††±		0.81			02/02/2012		5,000,000		5,000,000
ING Bank NV ††±		0.82			02/10/2012		5,000,000		5,000,000


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PRIME INVESTMENT MONEY MARKET FUND


Security Name			Interest Rate			Maturity Date		Principal		Value
Other Instruments (Continued)
Merrill Lynch Series TNP-003††±				0.46			04/01/2026	$	3,710,000	$	3,710,000

Total Other Instruments (Cost $13,710,000)											13,710,000


Other Notes: 3.46%

Corporate Bonds and Notes: 0.20%
Bear Stearns & Companies Incorporated±				0.52			08/15/2011		6,000,000		6,003,042
JPMorgan Chase & Company±				0.42			05/16/2011		2,000,000		2,000,062
Seariver Maritime Incorporated(i)				0.45			10/01/2011		2,000,000		2,000,000

											10,003,104

Secured Master Note Agreement: 3.16%
Bank of America Securities LLC±				0.25			09/09/2034		98,700,000		98,700,000
Lloyds TSB Bank plc				0.40			11/01/2011		58,000,000		58,000,000

											156,700,000

Yankee Corporate Bonds and Notes: 0.10%
Eksportfinans ASA±				0.28			09/22/2011		5,000,000		5,000,000

Total Other Notes (Cost $171,703,104)											171,703,104


Repurchase Agreements(z): 7.38%
Barclays Capital Incorporated, dated 04/29/2011, maturity value $95,000,234 (1)(z)				0.05	%		05/02/2011	$	95,000,000		95,000,000
Citibank NA, dated 04/29/2011, maturity value $73,000,243 (2)(z)				0.06			05/02/2011		73,000,000		73,000,000
Deutsche Bank Securities, dated 04/29/2011, maturity value $138,600,385 (3)(z)				0.05			05/02/2011		138,600,000		138,600,000
Societe Generale, dated 04/29/2011, maturity value $60,000,167 (7)(z)				0.05			05/02/2011		60,000,000		60,000,000

Total Repurchase Agreements (Cost $366,600,000)											366,600,000


Treasury Debt: 3.57%
US Treasury Bill^				0.12			10/06/2011		57,000,000		56,970,170
US Treasury Bill^				0.15			08/25/2011		40,000,000		39,980,194
US Treasury Bill^				0.16			08/18/2011		59,500,000		59,470,548
US Treasury Bill^				0.18			08/11/2011		21,000,000		20,989,395

Total Treasury Debt (Cost $177,410,307)											177,410,307


Total Investments in Securities (Cost $4,968,153,301)*	100.45	%									4,968,153,301
Other Assets and Liabilities, Net	(0.45	)									(22,122,799	)

Total Net Assets	100.00	%								$	4,946,030,502

(z)

Collateralized by:

(1) U.S. government securities, 0.00% to 5.50%, 5/5/2011 to 2/20/2041, market value including accrued interest is $97,298,385.

(2) U.S. government securities, 3.00% to 12.50%, 5/1/2011 to 11/1/2049, market value including accrued interest is $75,190,000.

(3) U.S. government securities, 4.00% to 7.00%, 7/1/2024 to 3/20/2041, market value including accrued interest is $142,758,000.

(4) U.S. government securities, 1.75% to 7.00%, 11/1/2013 to 12/1/2047, market value including accrued interest is $61,800,000.

(z)

Collateralized by:

††	Security that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

(i)

Illiquid security

§	These securities are subject to a demand feature which reduces the effective maturity.

±	Variable rate investments.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PRIME INVESTMENT MONEY MARKET FUND

^	Zero coupon security. Rate represents yield to maturity.

*	Cost for federal income tax purposes is substantially the same as for financial reporting purposes.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

TREASURY PLUS MONEY MARKET FUND


Security Name	Interest Rate			Maturity Date		Principal		Value
Treasury Debt: 32.74%
US Treasury Bill^		0.08	%		06/16/2011	$	150,000,000	$	149,984,063
US Treasury Bill^		0.09	%		06/23/2011		150,000,000		149,979,417
US Treasury Bill^		0.10	%		05/26/2011		500,000,000		499,952,833
US Treasury Bill^		0.10	%		06/30/2011		300,000,000		299,948,375
US Treasury Bill^		0.11	%		06/09/2011		300,000,000		299,963,583
US Treasury Bill^		0.11	%		10/13/2011		200,000,000		199,895,222
US Treasury Bill^		0.11	%		10/20/2011		100,000,000		99,945,375
US Treasury Bill^		0.12	%		05/19/2011		500,000,000		499,964,583
US Treasury Bill^		0.12	%		10/27/2011		100,000,000		99,940,667
US Treasury Bill^		0.13	%		10/06/2011		100,000,000		99,943,306
US Treasury Bill^		0.13	%		09/15/2011		50,000,000		49,974,500
US Treasury Bill^		0.13	%		06/02/2011		400,000,000		399,944,674
US Treasury Bill^		0.14	%		09/22/2011		50,000,000		49,971,201
US Treasury Bill^		0.15	%		08/25/2011		100,000,000		99,950,486
US Treasury Bill^		0.15	%		09/08/2011		100,000,000		99,944,458
US Treasury Bill^		0.16	%		08/18/2011		100,000,000		99,950,500
US Treasury Bill^		0.17	%		09/29/2011		100,000,000		99,929,167
US Treasury Bill^		0.17	%		09/01/2011		100,000,000		99,941,542
US Treasury Note		1.13	%		06/30/2011		245,000,000		245,372,391

Total Treasury Debt (Cost $3,644,496,343)									3,644,496,343


Repurchase Agreements (z): 67.26%
Barclays Capital Incorporated, dated 04/26/2011, maturity value $250,003,403 (1)		0.07	%		05/03/2011		250,000,000		250,000,000
Barclays Capital Incorporated, dated 04/27/2011, maturity value $500,004,861 (2)		0.05	%		05/04/2011		500,000,000		500,000,000
Barclays Capital Incorporated, dated 04/29/2011, maturity value $462,226,156 (3)		0.03	%		05/02/2011		462,225,000		462,225,000
BNP Paribas Securities, dated 04/29/2011, maturity value $1,000,002,500 (4)		0.03	%		05/02/2011		1,000,000,000		1,000,000,000
Credit Suisse First Boston Corporation, dated 04/29/2011, maturity value $500,001,250 (5)		0.03	%		05/02/2011		500,000,000		500,000,000
Deutsche Bank Securities, dated 04/28/2011, maturity value $250,001,944 (6)		0.04	%		05/05/2011		250,000,000		250,000,000
Deutsche Bank Securities, dated 04/29/2011, maturity value $150,000,250 (7)		0.02	%		05/02/2011		150,000,000		150,000,000
Goldman Sachs & Company, dated 04/29/2011, maturity value $100,000,083 (8)		0.01	%		05/02/2011		100,000,000		100,000,000
Merrill Lynch Pierce Fenner & Smith Incorporated, dated 04/29/2011, maturity value $125,000,208 (9)		0.02	%		05/02/2011		125,000,000		125,000,000
Morgan Stanley and Company, dated 04/25/2011, maturity value $250,004,375 (10)		0.09	%		05/02/2011		250,000,000		250,000,000
Morgan Stanley and Company, dated 04/26/2011, maturity value $250,002,917 (11)		0.06	%		05/03/2011		250,000,000		250,000,000
Morgan Stanley and Company, dated 04/29/2011, maturity value $150,000,250 (12)		0.02	%		05/02/2011		150,000,000		150,000,000
RBS Securities Incorporated, dated 04/28/2011, maturity value $250,001,944 (13)		0.04	%		05/05/2011		250,000,000		250,000,000
RBS Securities Incorporated, dated 04/29/2011, maturity value $1,000,002,500 (14)		0.03	%		05/02/2011		1,000,000,000		1,000,000,000
RBS Securities Incorporated, dated 04/29/2011, maturity value $500,004,861 (15)		0.05	%		05/06/2011		500,000,000		500,000,000
Societe Generale, dated 04/29/2011, maturity value $750,001,875 (16)		0.03	%		05/02/2011		750,000,000		750,000,000
UBS Securities LLC, dated 04/25/2011, maturity value $250,003,889 (17)		0.08	%		05/02/2011		250,000,000		250,000,000
UBS Securities LLC, dated 04/29/2011, maturity value $750,001,875 (18)		0.03	%		05/02/2011		750,000,000		750,000,000

Total Repurchase Agreements (Cost $7,487,225,000)									7,487,225,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE MONEY MARKET FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

TREASURY PLUS MONEY MARKET FUND


Total Investments in Securities (Cost $11,131,721,343)*	100.00	%		11,131,721,343

Other Assets and Liabilities, Net	0.00			(181,409	)

Total Net Assets	100.00	%	$	11,131,539,934

^	Zero coupon security. Rate represents yield to maturity.

(z)

Collateralized by:

(1) U.S. government securities, 2.00%, 1/15/2014 to 1/15/2016, market value including accrued interest is $255,000,078.

(2) U.S. government security, 2.125%, 1/15/2019, market value including accrued interest is $510,000,114.

(3) U.S. government securities, 0.50% to 3.625%, 4/15/2015 to 4/15/2028, market value including accrued interest is $471,469,520.

(4) U.S. government securities, 0.75% to 2.75%, 11/30/2011 to 2/28/2018, market value including accrued interest is $1,020,000,077.

(5) U.S. government securities, 3.125% to 3.50%, 5/15/2019 to 2/15/2039, market value including accrued interest is $510,005,033.

(6) U.S. government securities, 0.00%, 8/15/2016 to 2/15/2017, market value is $255,000,000.

(7) U.S. government securities, 0.75% to 7.875%, 8/15/2013 to 2/15/2021, market value including accrued interest is $153,000,017.

(8) U.S. government security, 0.125%, 4/15/2016, market value including accrued interest is $102,000,037.

(9) U.S. government security, 3.125%, 9/30/2013, market value including accrued interest is $127,500,099.

(10) U.S. government securities, 0.00% to 3.375%, 1/15/2012 to 2/15/2041, market value including accrued interest is $255,000,061.

(11) U.S. government securities, 0.00%, 8/15/2016 to 5/15/2018, market value is $255,000,001.

(12) U.S. government securities, 0.00% to 6.00%, 7/7/2011 to 2/15/2026, market value including accrued interest is $153,000,110.

(13) U.S. government securities, 1.25% to 2.50%, 7/15/2016 to 7/15/2020, market value including accrued interest is $255,003,793.

(14) U.S. government securities, 0.00% to 11.25%, 5/15/2011 to 2/15/2041, market value including accrued interest is $1,020,006,639.

(15) U.S. government securities, 0.125% to 3.625%, 1/15/2012 to 4/15/2028, market value including accrued interest is $510,001,347.

(16) U.S. government securities, 0.00% to 8.875%, 10/31/2011 to 2/15/2041, market value including accrued interest is $765,000,106.

(17) U.S. government security, 1.375%, 2/15/2013, market value including accrued interest is $255,000,021.

(18) U.S. government securities, 0.00% to 4.00%, 7/28/2011 to 11/15/2020, market value including accrued interest is $765,000,071.

*	Cost for federal income tax purposes is substantially the same as for financial reporting purposes.

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.

WELLS FARGO ADVANTAGE MONEY MARKET FUNDS

NOTES TO PORTFOLIOS OF INVESTMENTS – APRIL 30, 2011 (UNAUDITED)

Security valuation

As permitted under Rule 2a-7 of the 1940 Act, securities are valued at amortized cost, which approximates fair value.

The valuation techniques used by the Funds to measure fair value are consistent with the market approach, income approach and/or cost approach, where applicable, for each security type.

Repurchase agreements

The Fund may invest in repurchase agreements and may participate in pooled repurchase agreement transactions with other funds advised by Wells Fargo Funds Management, LLC. The repurchase agreements must be fully collateralized based on values that are marked-to- market daily. The collateral may be held by an agent bank under a tri-party agreement. It is the custodian’s responsibility to value collateral daily and to take action to obtain additional collateral as necessary to maintain market value equal to or greater than the resale price. The repurchase agreements are collateralized by instruments such as U.S. Treasury, federal agency, or high-grade corporate obligations. There could be potential loss to the Fund in the event that the Fund is delayed or prevented from exercising its rights to dispose of the collateral, including the risk of a possible decline in the value of the underlying obligations during the period in which the Fund seeks to assert its rights.

Fair valuation measurements

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 each Fund’s own assumptions in determining the fair value of investments)

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At April 30, 2011, all of the Funds’ investments in securities carried at fair value were designated as Level 2 inputs.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CLASSIC VALUE FUND


Security Name	Shares		Value
Common Stocks: 97.07%
Consumer Discretionary: 11.97%
Hotels, Restaurants & Leisure: 2.16%
Carnival Corporation		452,883	$	17,241,256

Media: 2.62%
Comcast Corporation Class A		471,204		12,364,393
Omnicom Group Incorporated«		174,045		8,561,274
				20,925,667

Multiline Retail: 0.81%
Target Corporation		131,399		6,451,691

Specialty Retail: 6.38%
Home Depot Incorporated		809,235		30,054,988
Lowe’s Companies Incorporated		519,164		13,628,055
Staples Incorporated«		347,823		7,352,978
				51,036,021

Consumer Staples: 11.11%
Beverages: 4.67%
Diageo plc		1,465,403		29,813,419
PepsiCo Incorporated		108,779		7,493,785
				37,307,204

Food & Staples Retailing: 3.33%
Safeway Incorporated«		424,030		10,308,169
Sysco Corporation«		207,000		5,984,370
Walgreen Company«		241,669		10,324,100
				26,616,639

Household Products: 1.70%
Clorox Company		70,243		4,893,127
Procter & Gamble Company		134,017		8,697,703
				13,590,830

Tobacco: 1.41%
Philip Morris International		162,702		11,298,027

Energy: 14.16%
Oil, Gas & Consumable Fuels: 14.16%
Chevron Corporation		202,500		22,161,600
ConocoPhillips		330,289		26,069,711
Exxon Mobil Corporation		399,709		35,174,392
Occidental Petroleum Corporation		203,945		23,308,874
Southwestern Energy Company†		147,219		6,457,025
				113,171,602

Financials: 23.60%
Capital Markets: 4.20%
Northern Trust Corporation«		320,150		16,004,299


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CLASSIC VALUE FUND


Security Name	Shares		Value
Capital Markets (continued)
State Street Corporation		377,790	$	17,586,125
				33,590,424

Commercial Banks: 2.09%
US Bancorp		647,290		16,713,028

Consumer Finance: 0.99%
American Express Company		160,345		7,869,733

Diversified Financial Services: 12.26%
Apollo Global Management LLC Class A†(a)††		605,421		10,946,012
Bank of America Corporation		2,205,462		27,083,073
JPMorgan Chase & Company		681,497		31,096,708
Moody’s Corporation«		737,102		28,850,172
				97,975,965

Insurance: 4.06%
Prudential Financial Incorporated		329,812		20,916,677
Stewart Information Services Corporation«		1,132,220		11,480,711
				32,397,388

Health Care: 15.04%
Biotechnology: 2.21%
Amgen Incorporated†		311,243		17,694,165

Health Care Equipment & Supplies: 2.45%
Medtronic Incorporated		468,699		19,568,183

Health Care Providers & Services: 3.12%
WellPoint Incorporated		324,899		24,948,994

Pharmaceuticals: 7.26%
Merck & Company Incorporated		420,819		15,128,443
Novartis AG ADR«		339,908		20,112,356
Pfizer Incorporated		1,084,757		22,736,507
				57,977,306

Industrials: 9.50%
Aerospace & Defense: 2.05%
Boeing Company		105,930		8,451,095
ITT Corporation		137,000		7,917,230
				16,368,325

Air Freight & Logistics: 2.00%
FedEx Corporation		166,855		15,963,018

Commercial Services & Supplies: 3.16%
Avery Dennison Corporation		350,826		14,643,477
Cintas Corporation		340,803		10,581,933
				25,225,410

Industrial Conglomerates: 2.29%
General Electric Company		897,264		18,349,049


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CLASSIC VALUE FUND


Security Name								Shares		Value
Information Technology: 9.76%
Communications Equipment: 4.46%
Cisco Systems Incorporated									447,900	$	7,865,124
QUALCOMM Incorporated									487,973		27,736,385
											35,601,509

Computers & Peripherals: 1.94%
Dell Incorporated†									999,233		15,498,104

IT Services: 1.13%
Automatic Data Processing Incorporated«									166,173		9,031,503

Software: 2.23%
CA Incorporated									163,300		4,015,547
Oracle Corporation									383,036		13,808,448
											17,823,995

Materials: 0.87%
Metals & Mining: 0.87%
Newmont Mining Corporation									118,000		6,915,980

Utilities: 1.06%
Electric Utilities: 1.06%
Entergy Corporation									121,160		8,447,275

Total Common Stocks (Cost $647,774,435)											775,598,291

Short-Term Investments: 12.51%

			Interest Rate			Maturity Date		Principal
Corporate Bonds & Notes: 0.03%
Gryphon Funding Limited(a)(i)(v)				0.00	%		08/05/2011	$	215,676		92,870
VFNC Corporation(a)††(i)(v)±				0.25	%		09/29/2011		260,103		153,461
											246,331


			Yield					Shares
Investment Companies: 12.48%
Wells Fargo Advantage Cash Investment Money Market Fund (l)(u)				0.09	%				21,412,027		21,412,027
Wells Fargo Securities Lending Cash Investments, LLC (v)(l)(u)				0.20	%				78,278,033		78,278,033
											99,690,060

Total Short-Term Investments (Cost $99,812,446)											99,936,391

Total Investments in Securities (Cost $747,586,881)*	109.58	%									875,534,682
Other Assets and Liabilities, Net	(9.58	)									(76,538,507	)

Total Net Assets	100.00	%								$	798,996,175

«	All or a portion of this security is on loan.

†	Non-income earning securities.

(a)

Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CLASSIC VALUE FUND

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

(i)

Illiquid security

(v)

Security represents investment of cash collateral received from securities on loan.

±	Variable rate investments.

(l)

Investment in an affiliate.

(u)

Rate shown is the 7-day annualized yield at period end.

*	Cost for federal income tax purposes is $751,227,561 and net unrealized appreciation (depreciation) consists of:


Gross unrealized appreciation	$	168,300,455
Gross unrealized depreciation		(43,993,334	)

Net unrealized appreciation	$	124,307,121


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CORE EQUITY FUND


Security Name	Shares		Value
Common Stocks: 95.24%
Consumer Discretionary: 15.15%
Diversified Consumer Services: 0.00%
Apollo Group Incorporated Class A†		1,034	$	41,391

Hotels, Restaurants & Leisure: 0.95%
Darden Restaurants Incorporated		172,692		8,111,343

Household Durables: 1.44%
Nintendo Company Limited		51,900		12,265,586

Internet & Catalog Retail: 1.37%
Amazon.com Incorporated†		59,456		11,683,104

Media: 5.71%
CBS Corporation Class B		589,446		14,865,827
Comcast Corporation Class A		607,096		14,904,207
Discovery Communications Incorporated Class A†		161,288		6,364,424
Omnicom Group Incorporated		256,294		12,607,102
				48,741,560

Multiline Retail: 2.53%
Kohl’s Corporation		216,933		11,434,538
Target Corporation		205,798		10,104,682
				21,539,220

Specialty Retail: 3.15%
Best Buy Company Incorporated		272,766		8,515,755
Home Depot Incorporated		229,766		8,533,509
Staples Incorporated«		464,233		9,813,886
				26,863,150

Consumer Staples: 5.61%
Beverages: 2.31%
Diageo plc		595,373		12,112,781
PepsiCo Incorporated		110,884		7,638,799
				19,751,580

Food Products: 1.10%
General Mills Incorporated		243,425		9,391,337

Household Products: 2.20%
Clorox Company«		165,710		11,543,359
Procter & Gamble Company		111,295		7,223,046
				18,766,405

Energy: 12.57%
Energy Equipment & Services: 3.75%
Schlumberger Limited		215,114		19,306,482
Weatherford International Limited†		587,904		12,686,968
				31,993,450

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CORE EQUITY FUND


Security Name	Shares		Value
Oil, Gas & Consumable Fuels: 8.82%
Apache Corporation		78,907	$	10,523,827
Chevron Corporation		155,575		17,026,128
Exxon Mobil Corporation		218,259		19,206,792
Occidental Petroleum Corporation		102,267		11,688,095
Peabody Energy Corporation		87,631		5,855,503
Southwestern Energy Company†		248,904		10,916,929
				75,217,274

Financials: 19.04%
Capital Markets: 4.37%
Goldman Sachs Group Incorporated		102,297		15,447,870
INVESCO Limited		412,258		10,252,856
TD Ameritrade Holding Corporation		537,050		11,568,057
				37,268,783

Commercial Banks: 2.57%
Branch Banking & Trust Corporation		403,686		10,867,227
Fifth Third Bancorp		831,986		11,040,454
				21,907,681

Consumer Finance: 3.37%
American Express Company		253,967		12,464,700
MasterCard Incorporated		35,642		9,833,271
Visa Incorporated Class A		82,448		6,440,838
				28,738,809

Diversified Financial Services: 5.31%
Apollo Global Management LLC Class A†(a)††(i)		612,041		11,065,701
JPMorgan Chase & Company		289,775		13,222,433
Moody’s Corporation«		537,719		21,046,322
				45,334,456

Insurance: 2.13%
Prudential Financial Incorporated		208,953		13,251,799
RenaissanceRe Holdings Limited		69,751		4,902,100
				18,153,899

Real Estate Investment Trusts (REITs): 1.29%
BioMed Realty Trust Incorporated«		554,433		10,999,951

Health Care: 9.89%
Biotechnology: 1.31%
Amgen Incorporated†		195,831		11,132,992

Health Care Equipment & Supplies: 3.12%
Covidien plc		283,619		15,794,742
Medtronic Incorporated		259,020		10,814,085
				26,608,827

Life Sciences Tools & Services: 1.52%
Thermo Fisher Scientific Incorporated†		216,808		13,006,312

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CORE EQUITY FUND


Security Name	Shares		Value
Pharmaceuticals: 3.94%
Johnson & Johnson		120,161	$	7,896,981
Merck & Company Incorporated		359,780		12,934,091
Novartis AG ADR«		215,758		12,766,401
				33,597,473

Industrials: 17.13%
Aerospace & Defense: 1.06%
Boeing Company		113,392		9,046,414

Air Freight & Logistics: 1.28%
United Parcel Service Incorporated Class B		146,310		10,968,861

Airlines: 1.79%
Delta Air Lines Incorporated†		1,059,636		10,999,022
United Continental Holdings Incorporated†		185,746		4,238,724
				15,237,746

Building Products: 1.29%
Masco Corporation		819,255		10,994,402

Commercial Services & Supplies: 3.27%
Avery Dennison Corporation«		408,180		17,037,433
Republic Services Incorporated		342,970		10,844,711
				27,882,144

Construction & Engineering: 1.14%
Jacobs Engineering Group Incorporated†		197,012		9,773,765

Industrial Conglomerates: 1.95%
General Electric Company		811,993		16,605,257

Machinery: 2.54%
Illinois Tool Works Incorporated		207,378		12,112,949
Oshkosh Corporation†		302,164		9,566,512
				21,679,461

Professional Services: 1.40%
Manpower Incorporated		179,793		11,911,286

Road & Rail: 1.41%
Hertz Global Holdings Incorporated†«		700,933		12,063,057

Information Technology: 11.63%
Communications Equipment: 2.93%
Cisco Systems Incorporated		506,001		8,885,378
QUALCOMM Incorporated		283,908		16,137,331
				25,022,709

Computers & Peripherals: 0.98%
NetApp Incorporated†«		160,049		8,319,347

Internet Software & Services: 3.74%
Akamai Technologies Incorporated†«		260,266		8,963,561
Equinix Incorporated†«		101,909		10,258,160

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CORE EQUITY FUND


Security Name								Shares		Value
Internet Software & Services (continued)
Google Incorporated Class A†									23,264	$	12,657,942
											31,879,663

Semiconductors & Semiconductor Equipment: 2.63%
Altera Corporation«									221,369		10,780,670
ON Semiconductor Corporation†«									1,110,397		11,670,272
											22,450,942

Software: 1.35%
Oracle Corporation									319,611		11,521,977

Materials: 3.36%
Chemicals: 1.66%
Praxair Incorporated									133,286		14,184,296

Containers & Packaging: 1.16%
Bemis Company Incorporated«									315,011		9,872,445

Metals & Mining: 0.54%
United States Steel Corporation									96,681		4,612,651

Telecommunication Services: 0.86%
Wireless Telecommunication Services: 0.86%
American Tower Corporation Class A†									139,857		7,315,920

Total Common Stocks (Cost $674,490,617)											812,456,926

Short-Term Investments: 15.45%

			Interest Rate			Maturity Date		Principal
Corporate Bonds & Notes: 0.32%
Gryphon Funding Limited(a)(i)				0.00	%		08/05/2011	$	6,356,646		2,737,172


			Yield					Shares
Investment Companies: 15.13%
Wells Fargo Advantage Cash Investment Money Market Fund (l)(u)				0.09					21,084,164		21,084,164
Wells Fargo Securities Lending Cash Investments, LLC(l)(u)(v)				0.20					108,039,507		108,039,507
											129,123,671

Total Short-Term Investments (Cost $134,696,878)											131,860,843

Total Investments in Securities (Cost $809,187,495)*	110.69	%									944,317,769
Other Assets and Liabilities, Net	(10.69	)									(91,236,517	)

Total Net Assets	100.00%									$	853,081,252

†	Non-income earning securities.

«	All or a portion of this security is on loan.

(a)

Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees.

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CORE EQUITY FUND

(i)

Illiquid security.

(l)

Investment in an affiliate.

(u)

Rate shown is the 7-day annualized yield at period end.

(v)

Security represents investment of cash collateral received from securities on loan.

*	Cost for federal income tax purposes is $810,611,592 and net unrealized appreciation (depreciation) consists of:


Gross unrealized appreciation	$	153,334,419
Gross unrealized depreciation		(19,628,242	)

Net unrealized appreciation	$	133,706,177

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

DISCIPLINED U.S. CORE FUND


Security Name	Shares		Value
Common Stocks: 98.16%
Consumer Discretionary: 9.75%
Auto Components: 0.30%
Autoliv Incorporated«		1,183	$	94,794
TRW Automotive Holdings Corporation†		30,101		1,717,563
				1,812,357

Automobiles: 0.87%
Ford Motor Company†		333,956		5,166,299

Hotels, Restaurants & Leisure: 0.81%
McDonald’s Corporation		61,678		4,830,004

Household Durables: 0.65%
Whirlpool Corporation		44,749		3,856,469

Media: 3.05%
Comcast Corporation Class A		315,088		8,267,909
DIRECTV Group Incorporated†		28,829		1,400,801
DISH Network Corporation†		73,683		1,845,022
Time Warner Cable Incorporated		39,042		3,050,351
Time Warner Incorporated		6,514		246,620
Viacom Incorporated Class B		64,785		3,314,401
				18,125,104

Multiline Retail: 1.15%
Dollar General Corporation†		47,204		1,548,036
Kohl’s Corporation		33,659		1,782,624
Macy’s Incorporated		145,645		3,482,372
				6,813,032

Specialty Retail: 2.39%
AutoZone Incorporated†«		14,678		4,144,774
Best Buy Company Incorporated		73,418		2,292,110
GameStop Corporation Class A†«		54,434		1,397,865
Home Depot Incorporated		2,624		97,455
Ross Stores Incorporated		51,628		3,804,467
TJX Companies Incorporated«		46,451		2,490,703
				14,227,374

Textiles, Apparel & Luxury Goods: 0.53%
VF Corporation«		31,056		3,122,991

Consumer Staples: 10.91%
Beverages: 1.32%
Coca-Cola Enterprises Incorporated		109,168		3,101,463
PepsiCo Incorporated		20,235		1,393,989
The Coca-Cola Company		49,700		3,352,762
				7,848,214

Food & Staples Retailing: 3.18%
CVS Caremark Corporation		99,799		3,616,716
Kroger Company		156,975		3,816,062
Safeway Incorporated		84,937		2,064,818


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

DISCIPLINED U.S. CORE FUND


Security Name	Shares		Value
Food & Staples Retailing (continued)
Wal-Mart Stores Incorporated		170,865	$	9,394,158
				18,891,754

Food Products: 1.85%
Archer Daniels Midland Company		95,419		3,532,411
Bunge Limited«		24,746		1,866,838
Corn Products International Incorporated		1,237		68,159
Hormel Foods Corporation		67,166		1,975,352
Tyson Foods Incorporated Class A		180,406		3,590,079
				11,032,839

Household Products: 1.09%
Energizer Holdings Incorporated†		21,042		1,589,302
Procter & Gamble Company		75,343		4,889,761
				6,479,063

Personal Products: 0.48%
Herbalife Limited		31,587		2,835,881

Tobacco: 2.99%
Altria Group Incorporated		161,639		4,338,391
Lorillard Incorporated		35,246		3,753,699
Philip Morris International		139,422		9,681,464
				17,773,554

Energy: 12.60%
Energy Equipment & Services: 1.06%
Diamond Offshore Drilling Incorporated		23,544		1,781,261
National Oilwell Varco Incorporated		40,714		3,122,357
Schlumberger Limited		15,948		1,431,333
				6,334,951

Oil, Gas & Consumable Fuels: 11.54%
Apache Corporation		36,275		4,837,997
ChevronTexaco Corporation		137,025		14,996,016
ConocoPhillips		69,538		5,488,634
Devon Energy Corporation		56,377		5,130,307
Exxon Mobil Corporation		226,117		19,898,296
Hess Corporation		48,819		4,196,481
Marathon Oil Corporation		120,060		6,488,042
Peabody Energy Corporation		2,859		191,038
Tesoro Corporation†«		86,411		2,343,466
Valero Energy Corporation		176,773		5,002,676
				68,572,953

Financials: 15.09%
Capital Markets: 1.48%
Ameriprise Financial Incorporated		58,143		3,608,355
Goldman Sachs Group Incorporated		34,445		5,201,539
				8,809,894


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

DISCIPLINED U.S. CORE FUND


Security Name	Shares		Value
Commercial Banks: 2.25%
Fifth Third Bancorp		91,774	$	1,217,841
Huntington Bancshares Incorporated		253,682		1,722,501
KeyCorp		217,183		1,896,355
PNC Financial Services Group Incorporated		77,308		4,819,381
US Bancorp		143,935		3,716,402
				13,372,480

Consumer Finance: 2.04%
Capital One Financial Corporation		107,333		5,874,335
Discover Financial Services		136,597		3,393,069
SLM Corporation†		172,391		2,859,967
				12,127,371

Diversified Financial Services: 3.92%
Bank of America Corporation		391,952		4,813,171
Citigroup Incorporated		1,181,711		5,424,054
JPMorgan Chase & Company		286,280		13,062,956
				23,300,181

Insurance: 4.41%
ACE Limited		39,437		2,652,138
Assurant Incorporated		54,390		2,159,283
Berkshire Hathaway Incorporated Class B†«		33,831		2,818,122
Endurance Specialty Holdings Limited«		9,866		437,458
Hartford Financial Services Group Incorporated		102,979		2,983,302
Lincoln National Corporation		63,269		1,973,689
MetLife Incorporated		48,315		2,260,659
Prudential Financial Incorporated		48,043		3,046,887
Reinsurance Group of America Incorporated		37,327		2,362,799
The Travelers Companies Incorporated		87,396		5,530,419
				26,224,756

Real Estate Investment Trusts (REITs): 0.99%
Annaly Capital Management Incorporated«		99,882		1,781,895
CommonWealth REIT		43,899		1,202,394
Hospitality Properties Trust«		49,954		1,206,389
Vornado Realty Trust		17,480		1,689,966
				5,880,644

Health Care: 10.83%
Biotechnology: 0.85%
Biogen Idec Incorporated†		31,874		3,102,934
Cephalon Incorporated†«		21,727		1,668,634
Gilead Sciences Incorporated†		6,463		251,023
				5,022,591

Health Care Equipment & Supplies: 1.18%
CR Bard Incorporated«		17,352		1,852,326
St. Jude Medical Incorporated		42,013		2,245,175
Zimmer Holdings Incorporated†		45,127		2,944,537
				7,042,038


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

DISCIPLINED U.S. CORE FUND


Security Name	Shares		Value
Health Care Providers & Services: 2.89%
Aetna Incorporated		115,127	$	4,763,955
CIGNA Corporation		54,033		2,530,365
McKesson Corporation		33,630		2,791,626
UnitedHealth Group Incorporated		144,349		7,106,301
				17,192,247

Life Sciences Tools & Services: 0.40%
Thermo Fisher Scientific Incorporated†		39,286		2,356,767

Pharmaceuticals: 5.51%
Abbott Laboratories«		86,115		4,481,425
Eli Lilly & Company		128,755		4,765,223
Forest Laboratories Incorporated†		8,996		298,307
Johnson & Johnson		80,962		5,320,823
Merck & Company Incorporated		215,138		7,734,211
Pfizer Incorporated		483,132		10,126,447
				32,726,436

Industrials: 11.04%
Aerospace & Defense: 3.59%
Alliant Techsystems Incorporated«		27,267		1,926,414
General Dynamics Corporation«		61,240		4,459,497
Huntington Ingalls Industries Incorporated†		1,197		47,880
L-3 Communications Holdings Incorporated		27,834		2,238,811
Lockheed Martin Corporation		31,270		2,478,038
Northrop Grumman Corporation		80,105		5,095,479
Raytheon Company		104,408		5,069,008
				21,315,127

Commercial Services & Supplies: 0.17%
RR Donnelley & Sons Company		54,456		1,027,040

Construction & Engineering: 0.44%
KBR Incorporated		68,480		2,627,578

Industrial Conglomerates: 2.03%
General Electric Company		589,933		12,064,130

Machinery: 2.44%
Caterpillar Incorporated		24,667		2,846,819
Deere & Company		34,799		3,392,903
Eaton Corporation		6,421		343,716
Oshkosh Truck Corporation†		36,487		1,155,178
Parker Hannifin Corporation		42,398		3,998,979
Timken Company		49,047		2,765,760
				14,503,355

Road & Rail: 2.37%
CSX Corporation		68,603		5,398,370
Norfolk Southern Corporation		37,198		2,777,947
Ryder System Incorporated		37,010		1,980,035
Union Pacific Corporation		38,064		3,938,482
				14,094,834


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

DISCIPLINED U.S. CORE FUND


Security Name	Shares		Value
Information Technology: 18.10%
Communications Equipment: 1.04%
Cisco Systems Incorporated		141,469	$	2,484,196
Harris Corporation«		27,414		1,456,506
Qualcomm Incorporated		39,521		2,246,374
				6,187,076

Computers & Peripherals: 4.58%
Apple Incorporated†		47,826		16,654,448
Dell Incorporated†		202,868		3,146,483
Hewlett-Packard Company		184,146		7,433,974
				27,234,905

Electronic Equipment & Instruments: 1.52%
Arrow Electronics Incorporated†		46,581		2,123,628
Flextronics International Limited†«		197,793		1,378,617
Ingram Micro Incorporated Class A†		46,882		878,100
Tech Data Corporation†		30,867		1,639,964
Vishay Intertechnology Incorporated†		159,284		3,039,139
				9,059,448

Internet Software & Services: 1.38%
Google Incorporated Class A†		15,065		8,196,867

IT Services: 2.81%
Computer Sciences Corporation		42,004		2,141,364
International Business Machines Corporation		85,274		14,546,039
				16,687,403

Semiconductors & Semiconductor Equipment: 2.76%
Applied Materials Incorporated		177,215		2,780,503
Avago Technologies Limited		56,553		1,892,263
Intel Corporation		386,110		8,953,891
KLA-Tencor Corporation		26,489		1,162,867
Lam Research Corporation†		32,790		1,584,085
				16,373,609

Software: 4.01%
Microsoft Corporation		496,437		12,917,291
Oracle Corporation		303,233		10,931,550
				23,848,841

Materials: 3.83%
Chemicals: 2.20%
Cabot Corporation		27,356		1,226,917
E.I. du Pont de Nemours & Company		96,469		5,478,475
Eastman Chemical Company		39,401		4,225,757
PPG Industries Incorporated		22,899		2,161,771
				13,092,920

Metals & Mining: 0.82%
Freeport-McMoRan Copper & Gold Incorporated Class B		88,642		4,877,969


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

DISCIPLINED U.S. CORE FUND


Security Name								Shares		Value
Paper & Forest Products: 0.81%
Domtar Corporation									16,148	$	1,502,087
International Paper Company									107,386		3,316,080
											4,818,167

Telecommunication Services: 3.43%
Diversified Telecommunication Services: 3.43%
AT&T Incorporated									387,353		12,054,425
Verizon Communications Incorporated									219,959		8,310,051
											20,364,476

Utilities: 2.58%
Electric Utilities: 1.07%
Entergy Corporation									48,231		3,362,665
Pepco Holdings Incorporated									154,194		2,971,318
											6,333,983

Multi-Utilities: 1.51%
Ameren Corporation									97,442		2,856,025
DTE Energy Company									53,297		2,693,097
NiSource Incorporated«									176,085		3,424,853
											8,973,975

Total Common Stocks (Cost $383,934,695)											583,459,947

Short-Term Investments: 6.18%
			Yield					Shares
Investment Companies: 6.01%
Wells Fargo Advantage Cash Investment Money Market Fund (l)(u)				0.09	%				4,696,220		4,696,220
Wells Fargo Securities Lending Cash Investments, LLC (l)(u)(v)				0.20					31,019,429		31,019,429
											35,715,649


			Interest Rate			Maturity Date		Principal
US Treasury Securities: 0.17%
US Treasury Bill#^				0.11			06/02/2011	$	1,000,000		999,983
Total Short-Term Investments (Cost $36,715,550)											36,715,632

Total Investments in Securities (Cost $420,650,245)*	104.34	%									620,175,579
Other Assets and Liabilities, Net	(4.34	)									(25,796,100	)

Total Net Assets	100.00	%								$	594,379,479

«	All or a portion of this security is on loan.

†	Non-income earning securities.

(l)

Investment in an affiliate.

(u)

Rate shown is the 7-day annualized yield at period end.

(v)

Security represents investment of cash collateral received from securities on loan.

#	Security pledged as collateral for futures transactions.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

DISCIPLINED U.S. CORE FUND

^	Zero coupon security. Rate represents yield to maturity.

*	Cost for federal income tax purposes is $422,702,814 and net unrealized appreciation (depreciation) consists of:


Gross unrealized appreciation	$	200,352,970
Gross unrealized depreciation		(2,880,205	)

Net unrealized appreciation	$	197,472,765


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

DISCIPLINED VALUE FUND


Security Name	Shares		Value
Common Stocks: 98.36%
Consumer Discretionary: 8.02%
Auto Components: 0.38%
TRW Automotive Holdings Corporation†		27,448	$	1,566,183

Automobiles: 0.60%
Ford Motor Company†		162,214		2,509,451

Household Durables: 0.51%
Whirlpool Corporation		24,348		2,098,311

Media: 4.09%
Comcast Corporation Class A		275,571		7,230,983
DISH Network Corporation†«		53,460		1,338,638
Gannett Company Incorporated		80,012		1,204,981
Time Warner Cable Incorporated		23,162		1,809,647
Time Warner Incorporated		51,677		1,956,491
Viacom Incorporated Class B		32,913		1,683,829
Walt Disney Company		39,485		1,701,804
				16,926,373

Multiline Retail: 1.00%
Kohl’s Corporation		20,153		1,067,329
Macy’s Incorporated		127,966		3,059,667
				4,126,996

Specialty Retail: 1.10%
AutoZone Incorporated†«		8,632		2,437,504
Best Buy Company Incorporated		29,750		928,795
GameStop Corporation Class A†«		46,926		1,205,060
				4,571,359

Textiles, Apparel & Luxury Goods: 0.34%
VF Corporation«		13,869		1,394,667

Consumer Staples: 10.17%
Beverages: 0.53%
Coca-Cola Enterprises Incorporated		44,704		1,267,121
Constellation Brands Incorporated Class A†		41,507		929,342
				2,196,463

Food & Staples Retailing: 2.60%
CVS Caremark Corporation		45,944		1,665,011
Kroger Company		113,395		2,756,632
Safeway Incorporated«		57,227		1,391,188
Wal-Mart Stores Incorporated		89,982		4,947,210
				10,760,041

Food Products: 2.73%
Archer Daniels Midland Company		84,694		3,135,372
Bunge Limited«		22,409		1,690,535
Corn Products International Incorporated		1,182		65,128
Hormel Foods Corporation		42,084		1,237,690
JM Smucker Company		15,538		1,166,438


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

DISCIPLINED VALUE FUND


Security Name	Shares		Value
Food Products (continued)
Smithfield Foods Incorporated†«		68,734	$	1,619,373
Tyson Foods Incorporated Class A		118,711		2,362,349
				11,276,885

Household Products: 2.05%
Energizer Holdings Incorporated†		18,833		1,422,456
Procter & Gamble Company		109,044		7,076,956
				8,499,412

Personal Products: 0.37%
Herbalife Limited		16,810		1,509,202

Tobacco: 1.89%
Altria Group Incorporated		149,686		4,017,572
Lorillard Incorporated		12,702		1,352,763
Philip Morris International		35,503		2,465,328
				7,835,663

Energy: 12.53%
Energy Equipment & Services: 0.66%
McDermott International Incorporated†		4,051		93,538
National Oilwell Varco Incorporated		16,803		1,288,622
Patterson-UTI Energy Incorporated		43,108		1,341,090
				2,723,250

Oil, Gas & Consumable Fuels: 11.87%
Alpha Natural Resources Incorporated†«		22,103		1,285,732
Apache Corporation		32,029		4,271,708
Chesapeake Energy Corporation		3,306		111,313
Chevron Corporation		139,447		15,261,080
ConocoPhillips		55,056		4,345,570
Devon Energy Corporation		48,227		4,388,657
Exxon Mobil Corporation		10,022		881,936
Frontier Oil Corporation		72,856		2,035,597
Hess Corporation		40,835		3,510,177
Marathon Oil Corporation		91,164		4,926,503
Occidental Petroleum Corporation		21,161		2,418,491
Tesoro Corporation†		64,374		1,740,564
Valero Energy Corporation		138,555		3,921,107
				49,098,435

Financials: 24.40%
Capital Markets: 2.00%
Ameriprise Financial Incorporated		46,795		2,904,098
Goldman Sachs Group Incorporated		34,588		5,223,134
Morgan Stanley		5,727		149,761
				8,276,993

Commercial Banks: 4.39%
BOK Financial Corporation		24,565		1,321,106
Fifth Third Bancorp		158,848		2,107,913
Huntington Bancshares Incorporated		323,743		2,198,215
KeyCorp		303,469		2,631,076


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

DISCIPLINED VALUE FUND


Security Name	Shares		Value
Commercial Banks (continued)
PNC Financial Services Group Incorporated		67,149	$	4,186,069
US Bancorp		220,466		5,692,432
				18,136,811

Consumer Finance: 2.18%
Capital One Financial Corporation		80,902		4,427,766
Discover Financial Services		75,062		1,861,620
SLM Corporation		165,251		2,741,514
				9,030,900

Diversified Financial Services: 6.11%
Bank of America Corporation		546,467		6,710,615
Citigroup Incorporated		1,083,790		4,974,596
JPMorgan Chase & Company		297,841		13,590,485
				25,275,696

Insurance: 6.71%
ACE Limited		52,209		3,511,055
Allied World Assurance Company		7,000		454,790
American Financial Group Incorporated		14,792		529,264
Assurant Incorporated		27,728		1,100,802
Berkshire Hathaway Incorporated Class B†«		71,420		5,949,286
Endurance Specialty Holdings Limited«		7,086		314,193
Hartford Financial Services Group Incorporated		64,869		1,879,255
Lincoln National Corporation		75,428		2,355,616
MetLife Incorporated		28,559		1,336,276
Protective Life Corporation		41,096		1,105,893
Prudential Financial Incorporated		50,078		3,175,947
Reinsurance Group of America Incorporated		29,670		1,878,111
The Travelers Companies Incorporated		64,295		4,068,588
Validus Holdings Limited		2,557		83,205
				27,742,281

Real Estate Investment Trusts (REITs): 3.01%
Annaly Capital Management Incorporated«		127,942		2,282,485
Brandywine Realty Trust		83,864		1,065,073
Commonwealth REIT		54,664		1,497,247
Duke Realty Corporation		61,309		934,962
Hospitality Properties Trust«		69,049		1,667,533
Host Hotels & Resorts Incorporated«		43,239		769,222
Liberty Property Trust«		31,945		1,123,506
Senior Housing Properties Trust		42,127		999,252
Vornado Realty Trust«		22,013		2,128,217
				12,467,497

Health Care: 13.60%
Biotechnology: 1.40%
Amgen Incorporated†		24,189		1,375,145
Biogen Idec Incorporated†		32,336		3,147,910
Cephalon Incorporated†«		15,252		1,171,354
Gilead Sciences Incorporated†		2,921		113,452
				5,807,861


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

DISCIPLINED VALUE FUND


Security Name	Shares		Value
Health Care Equipment & Supplies: 0.92%
Cooper Companies Incorporated		18,054	$	1,352,245
Teleflex Incorporated		18,699		1,169,273
Zimmer Holdings Incorporated†		19,667		1,283,272
				3,804,790

Health Care Providers & Services: 3.25%
Aetna Incorporated		40,176		1,662,483
CIGNA Corporation		44,800		2,097,984
Humana Incorporated«†		44,664		3,399,824
UnitedHealth Group Incorporated		127,538		6,278,696
				13,438,987

Life Sciences Tools & Services: 0.23%
Thermo Fisher Scientific Incorporated†		15,753		945,022

Pharmaceuticals: 7.80%
Eli Lilly & Company		120,173		4,447,603
Forest Laboratories Incorporated†		42,771		1,418,286
Johnson & Johnson		92,462		6,076,603
Merck & Company Incorporated		247,572		8,900,213
Mylan Laboratories Incorporated†«		50,194		1,250,834
Pfizer Incorporated		484,590		10,157,006
				32,250,545

Industrials: 8.79%
Aerospace & Defense: 2.99%
Alliant Techsystems Incorporated«		14,593		1,030,995
General Dynamics Corporation«		53,187		3,873,077
Huntington Ingalls Industries†		875		35,000
L-3 Communications Holdings Incorporated		17,066		1,368,523
Northrop Grumman Corporation		58,275		3,706,873
Raytheon Company		48,649		2,361,909
				12,376,377

Commercial Services & Supplies: 0.33%
RR Donnelley & Sons Company		72,288		1,363,352

Construction & Engineering: 0.41%
KBR Incorporated		43,932		1,685,671

Industrial Conglomerates: 2.44%
General Electric Company		493,878		10,099,805

Machinery: 1.09%
Oshkosh Truck Corporation†		32,145		1,017,711
Timken Company		43,919		2,476,592
Wabco Holdings Incorporated†		13,527		998,969
				4,493,272

Road & Rail: 1.53%
CSX Corporation		61,802		4,863,199
Ryder System Incorporated		25,760		1,378,160
Union Pacific Corporation		953		98,607
				6,339,966


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

DISCIPLINED VALUE FUND


Security Name	Shares		Value
Information Technology: 6.08%
Computers & Peripherals: 0.59%
Dell Incorporated†		83,574	$	1,296,233
Hewlett-Packard Company		28,283		1,141,785
				2,438,018

Electronic Equipment & Instruments: 1.24%
Arrow Electronics Incorporated†		41,030		1,870,558
Tech Data Corporation†		28,854		1,533,013
Vishay Intertechnology Incorporated†		91,262		1,741,279
				5,144,850

IT Services: 1.06%
Computer Sciences Corporation«		35,644		1,817,131
International Business Machines Corporation		15,063		2,569,447
				4,386,578

Semiconductors & Semiconductor Equipment: 1.78%
Applied Materials Incorporated		103,306		1,620,871
Avago Technologies Limited«		26,098		873,239
Intel Corporation		162,737		3,773,871
Lam Research Corporation†		22,681		1,095,719
				7,363,700

Software: 1.41%
Microsoft Corporation		223,722		5,821,246

Materials: 3.91%
Chemicals: 2.68%
Cabot Corporation«		29,802		1,336,620
E.I. du Pont de Nemours & Company		55,478		3,150,596
Eastman Chemical Company		18,325		1,965,356
Huntsman Corporation		80,530		1,679,051
Lubrizol Corporation		12,894		1,734,501
PPG Industries Incorporated		12,788		1,207,246
				11,073,370

Paper & Forest Products: 1.23%
Domtar Corporation		20,486		1,905,608
International Paper Company		103,053		3,182,277
				5,087,885

Telecommunication Services: 4.62%
Diversified Telecommunication Services: 4.62%
AT&T Incorporated		376,744		11,724,273
Verizon Communications Incorporated		195,896		7,400,951
				19,125,224

Utilities: 6.24%
Electric Utilities: 3.23%
DPL Incorporated«		55,396		1,677,945


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

DISCIPLINED VALUE FUND


Security Name								Shares		Value
Electric Utilities (continued)
Entergy Corporation									42,468	$	2,960,869
FirstEnergy Corporation									110,353		4,409,706
Pepco Holdings Incorporated									131,046		2,525,256
Pinnacle West Capital Corporation									41,534		1,802,160
											13,375,936

Gas Utilities: 0.42%
Energen Corporation									26,606		1,729,656

Independent Power Producers & Energy Traders: 0.78%
AES Corporation†									130,253		1,724,550
Constellation Energy Group Incorporated									41,741		1,520,207
											3,244,757

Multi-Utilities: 1.81%
Ameren Corporation									53,254		1,560,875
CMS Energy Corporation									85,855		1,699,929
DTE Energy Company«									25,765		1,301,905
NiSource Incorporated«									149,810		2,913,797
											7,476,506

Total Common Stocks (Cost $328,829,997)											406,896,243

Short-Term Investments: 9.72%

			Interest Rate			Maturity Date		Principal
Corporate Bonds & Notes: 0.12%
Gryphon Funding Limited(a)(i)(v)				0.00	%		08/05/2011	$	434,348		187,030
VFNC Corporation(a)††(i)(v)±				0.25	%		09/29/2011		523,819		309,053
											496,083


			Yield					Shares
Investment Companies: 9.48%
Wells Fargo Advantage Cash Investment Money Market Fund (l)(u)				0.09	%				4,899,433		4,899,433
Wells Fargo Securities Lending Cash Investment LLC (v)(l)(u)				0.20	%				34,334,481		34,334,481
											39,233,914


			Interest Rate					Principal
US Treasury Bills: 0.12%
US Treasury Bill#^				0.10	%		06/16/2011	$	500,000		499,993

Total Short-Term Investments (Cost $39,980,335)											40,229,990

Total Investments in Securities (Cost $368,810,332)*	108.08	%									447,126,233
Other Assets and Liabilities, Net	(8.08	)									(33,438,609	)

Total Net Assets	100.00	%								$	413,687,624

†	Non-income earning securities.

«	All or a portion of this security is on loan.

(a)

Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

DISCIPLINED VALUE FUND

(i)

Illiquid security

(v)

Security represents investment of cash collateral received from securities on loan.

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

±	Variable rate investments.

(l)

Investment in an affiliate.

(u)

Rate shown is the 7-day annualized yield at period end.

#	Security pledged as collateral for futures transactions.

^	Zero coupon security. Rate represents yield to maturity.

*	Cost for federal income tax purposes is $370,820,581 and net unrealized appreciation (depreciation) consists of:


Gross unrealized appreciation	$	80,834,348
Gross unrealized depreciation		(4,528,696	)

Net unrealized appreciation	$	76,305,652


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

INTRINSIC VALUE FUND


Security Name	Shares		Value
Common Stocks: 97.23%
Consumer Discretionary: 11.56%
Media: 2.83%
Time Warner Incorporated		407,700	$	15,435,522
Warner Music Group Corporation†«		98,700		737,289
				16,172,811

Multiline Retail: 3.78%
JCPenney Company Incorporated		196,600		7,559,270
Nordstrom Incorporated		294,400		13,998,720
				21,557,990

Specialty Retail: 2.49%
Home Depot Incorporated		383,300		14,235,762

Textiles, Apparel & Luxury Goods: 2.46%
Polo Ralph Lauren Corporation		107,200		14,018,544

Consumer Staples: 10.85%
Beverages: 2.46%
Diageo plc«		172,200		14,011,914

Food & Staples Retailing: 1.91%
Safeway Incorporated«		448,300		10,898,173

Food Products: 6.48%
H.J. Heinz Company		262,200		13,432,506
The Hershey Company		224,400		12,950,124
Unilever NV«		322,000		10,626,000
				37,008,630

Energy: 8.13%
Energy Equipment & Services: 1.56%
Weatherford International Limited†		413,900		8,931,962

Oil, Gas & Consumable Fuels: 6.57%
ConocoPhillips		165,600		13,070,808
Hess Corporation		186,100		15,997,156
QEP Resources Incorporated		197,200		8,426,356
				37,494,320

Financials: 16.70%
Capital Markets: 3.54%
Charles Schwab Corporation		341,600		6,254,696
Northern Trust Corporation		279,400		13,967,206
				20,221,902

Commercial Banks: 8.64%
Banco Santander Central Hispano SA ADR«		1,259,400		15,616,560
East West Bancorp Incorporated		263,900		5,576,207
M&T Bank Corporation		149,400		13,202,478

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

INTRINSIC VALUE FUND


Security Name	Shares		Value
Commercial Banks (continued)
Zions Bancorporation«		609,400	$	14,899,830
				49,295,075

Diversified Financial Services: 4.52%
Bank of America Corporation		1,031,100		12,661,908
JPMorgan Chase & Company		287,900		13,136,877
				25,798,785

Health Care: 9.74%
Health Care Equipment & Supplies: 5.05%
Baxter International Incorporated		238,300		13,559,270
Hospira Incorporated†		269,400		15,283,062
				28,842,332

Pharmaceuticals: 4.69%
Abbott Laboratories		282,200		14,685,688
Eli Lilly & Company		326,600		12,087,466
				26,773,154

Industrials: 10.44%
Aerospace & Defense: 5.32%
Boeing Company		175,800		14,025,324
Huntington Ingalls Industries Incorporated†		38,783		1,551,320
Northrop Grumman Corporation		232,700		14,802,047
				30,378,691

Machinery: 5.12%
Deere & Company		150,800		14,703,000
SPX Corporation		168,000		14,523,600
				29,226,600

Information Technology: 21.32%
Communications Equipment: 2.19%
QUALCOMM Incorporated		220,000		12,504,800

Computers & Peripherals: 5.77%
Apple Incorporated†		40,500		14,103,315
EMC Corporation†		663,900		18,814,926
				32,918,241

Internet Software & Services: 2.44%
eBay Incorporated†		405,300		13,942,320

IT Services: 3.15%
International Business Machines Corporation		105,500		17,996,190

Semiconductors & Semiconductor Equipment: 2.22%
Texas Instruments Incorporated		355,500		12,630,915

Software: 5.55%
Intuit Incorporated†		255,700		14,206,692

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

INTRINSIC VALUE FUND


Security Name						Shares		Value
Software (continued)
Oracle Corporation							485,000	$	17,484,250
									31,690,942

Materials: 2.67%
Chemicals: 2.67%
Dow Chemical Company							371,600		15,231,884

Telecommunication Services: 2.21%
Wireless Telecommunication Services: 2.21%
Vodafone Group plc ADR							433,900		12,635,168

Utilities: 3.61%
Electric Utilities: 2.33%
Nextera Energy Incorporated							235,000		13,293,950

Gas Utilities: 1.28%
Questar Corporation							416,600		7,319,662

Total Common Stocks (Cost $426,058,300)									555,030,717

Short-Term Investments: 10.08%

			Yield
Investment Companies: 10.08%
Wells Fargo Advantage Cash Investment Money Market Fund (l)(u)				0.09	%		15,414,058		15,414,058
Wells Fargo Securities Lending Cash Investments, LLC (v)(l)(u)				0.20			42,140,715		42,140,715

Total Short-Term Investments (Cost $57,554,773)									57,554,773

Total Investments in Securities (Cost $483,613,073)*	107.31	%							612,585,490
Other Assets and Liabilities, Net	(7.31	)							(41,716,005	)

Total Net Assets	100.00	%						$	570,869,485

†	Non-income earning securities.

«	All or a portion of this security is on loan.

(v)

Security represents investment of cash collateral received from securities on loan.

(l)

Investment in an affiliate.

(u)

Rate shown is the 7-day annualized yield at period end.

*	Cost for federal income tax purposes is $484,792,678 and net unrealized appreciation (depreciation) consists of:


Gross unrealized appreciation	$	135,687,696
Gross unrealized depreciation		(7,894,884	)

Net unrealized appreciation	$	127,792,812

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

LARGE CAP CORE FUND


Security Name	Shares		Value
Common Stocks: 98.87%
Consumer Discretionary: 12.26%
Automobiles: 1.95%
Ford Motor Company†		234,485	$	3,627,483
Media: 4.06%

CBS Corporation Class B		143,470		3,618,313
Comcast Corporation Class A		148,860		3,906,086
				7,524,399

Specialty Retail: 6.25%
Gap Incorporated«		142,760		3,317,742
Home Depot Incorporated		101,140		3,756,340
Ross Stores Incorporated		61,355		4,521,250
				11,595,332

Consumer Staples: 5.41%
Food & Staples Retailing: 3.61%
CVS Caremark Corporation		98,440		3,567,466
Wal-Mart Stores Incorporated		57,050		3,136,609
				6,704,075

Food Products: 1.80%
Tyson Foods Incorporated Class A		167,275		3,328,773

Energy: 16.14%
Energy Equipment & Services: 4.54%
Halliburton Company		100,185		5,057,339
National Oilwell Varco Incorporated		43,890		3,365,924
				8,423,263

Oil, Gas & Consumable Fuels: 11.60%
Chevron Corporation		40,775		4,462,416
Cimarex Energy Company		39,100		4,324,069
ConocoPhillips		55,990		4,419,291
Exxon Mobil Corporation		47,835		4,209,480
Occidental Petroleum Corporation		35,825		4,094,439
				21,509,695

Financials: 13.18%
Capital Markets: 5.76%
Ameriprise Financial Incorporated		65,025		4,035,452
Raymond James Financial Incorporated		89,465		3,354,938
T. Rowe Price Group Incorporated		51,260		3,293,455
				10,683,845

Diversified Financial Services: 1.87%
JPMorgan Chase & Company		76,165		3,475,409

Insurance: 5.55%
ACE Limited		54,630		3,673,868

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

LARGE CAP CORE FUND


Security Name	Shares		Value
Insurance (continued)
PartnerRe Limited		39,440	$	3,169,398
UnumProvident Corporation		129,965		3,441,473
				10,284,739

Health Care: 12.01%
Biotechnology: 1.64%
Amgen Incorporated†		53,550		3,044,318

Health Care Providers & Services: 5.37%
Cardinal Health Incorporated		81,170		3,546,317
McKesson Corporation		41,165		3,417,107
Medco Health Solutions Incorporated†		50,385		2,989,342
				9,952,766

Pharmaceuticals: 5.00%
Bristol-Myers Squibb Company«		110,115		3,094,232
Forest Laboratories Incorporated†		93,505		3,100,626
Johnson & Johnson		46,795		3,075,367
				9,270,225

Industrials: 14.45%
Aerospace & Defense: 2.06%
United Technologies Corporation		42,695		3,824,618

Industrial Conglomerates: 6.09%
3M Company		35,535		3,454,357
General Electric Company		197,735		4,043,681
Tyco International Limited		77,810		3,792,459
				11,290,497

Machinery: 4.35%
Danaher Corporation		72,025		3,978,661
Wabco Holdings Incorporated†		55,415		4,092,398
				8,071,059

Road & Rail: 1.95%
Union Pacific Corporation		34,980		3,619,381

Information Technology: 18.98%
Communications Equipment: 1.22%
Cisco Systems Incorporated		128,935		2,264,099

Computers & Peripherals: 3.44%
Apple Incorporated†		11,020		3,837,495
Hewlett-Packard Company		63,270		2,554,210
				6,391,705

Electronic Equipment & Instruments: 1.91%
Corning Incorporated		168,850		3,535,719

Internet Software & Services: 2.23%
IAC InterActive Corporation†		114,735		4,143,081

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

LARGE CAP CORE FUND


Security Name							Shares		Value
IT Services: 2.07%
International Business Machines Corporation								22,480	$	3,834,638

Semiconductors & Semiconductor Equipment: 4.07%
Intel Corporation								142,180		3,297,154
Texas Instruments Incorporated								119,540		4,247,256
										7,544,410

Software: 4.04%
Microsoft Corporation								116,220		3,024,044
Oracle Corporation								123,905		4,466,775
										7,490,819

Materials: 2.28%
Chemicals: 2.28%
Rockwood Holdings Incorporated†								74,540		4,229,400

Telecommunication Services: 1.95%
Diversified Telecommunication Services: 1.95%
Verizon Communications Incorporated								95,915		3,623,669

Utilities: 2.21%
Gas Utilities: 2.21%
ONEOK Incorporated								58,635		4,100,929

Total Common Stocks (Cost $143,558,274)										183,388,346

Short-Term Investments: 2.20%

			Interest Rate		Maturity Date		Principal
Corporate Bonds & Notes: 0.74%
Gryphon Funding Limited(a)(i)(v)				0.00%		08/05/2011	$	1,208,164		520,235
VFNC Corporation(a)††(i)(v)±				0.25		09/29/2011		1,457,032		859,649
										1,379,884


			Yield				Shares
Investment Companies: 1.46%
Wells Fargo Advantage Cash Investment Money Market Fund (l)(u)				0.09				1,450,647		1,450,647
Wells Fargo Securities Lending Cash Investments LLC (v)(l)(u)				0.20				1,256,801		1,256,801
										2,707,448

Total Short-Term Investments (Cost $3,393,022)										4,087,332

Total Investments in Securities (Cost $146,951,296)*	101.07	%								187,475,678
Other Assets and Liabilities, Net	(1.07	)								(1,981,895	)

Total Net Assets	100.00	%							$	185,493,783

†	Non-income earning securities.

«	All or a portion of this security is on loan.

(a)

Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees.

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

LARGE CAP CORE FUND

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

(i)

Illiquid security

±	Variable rate investments.

(v)

Security represents investment of cash collateral received from securities on loan.

(l)

Investment in an affiliate.

(u)

Rate shown is the 7-day annualized yield at period end.

*	Cost for federal income tax purposes is $147,083,596 and net unrealized appreciation (depreciation) consists of:


Gross unrealized appreciation	$	41,144,401
Gross unrealized depreciation		(752,319	)

Net unrealized appreciation	$	40,392,082

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

LARGE COMPANY VALUE FUND


Security Name	Shares		Value
Common Stocks: 97.66%
Consumer Discretionary: 8.70%
Hotels, Restaurants & Leisure: 1.25%
Carnival Corporation		45,272	$	1,723,505

Household Durables: 1.06%
Newell Rubbermaid Incorporated		77,061		1,468,783

Media: 3.49%
DIRECTV Group Incorporated†		31,593		1,535,104
Omnicom Group Incorporated«		37,061		1,823,031
Walt Disney Company		33,532		1,445,229
				4,803,364

Specialty Retail: 1.74%
Home Depot Incorporated		64,419		2,392,522

Textiles, Apparel & Luxury Goods: 1.16%
VF Corporation«		15,875		1,596,390

Consumer Staples: 5.84%
Food & Staples Retailing: 1.86%
Walgreen Company«		59,961		2,561,534

Food Products: 3.11%
ConAgra Foods Incorporated		64,088		1,566,952
Kraft Foods Incorporated Class A		37,740		1,267,309
Sara Lee Corporation		75,427		1,448,198
				4,282,459

Household Products: 0.87%
Procter & Gamble Company		18,494		1,200,261

Energy: 14.13%
Energy Equipment & Services: 2.22%
Nabors Industries Limited†		47,900		1,467,656
Noble Corporation«		36,898		1,586,983
				3,054,639

Oil, Gas & Consumable Fuels: 11.91%
Apache Corporation		20,455		2,728,083
Chevron Corporation		34,505		3,776,227
Devon Energy Corporation		31,402		2,857,582
Marathon Oil Corporation		55,206		2,983,332
Petrohawk Energy Corporation		68,203		1,842,163
Pioneer Natural Resources Company«		21,658		2,214,097
				16,401,484

Financials: 25.72%
Capital Markets: 3.30%
Franklin Resources Incorporated«		11,125		1,436,460
Goldman Sachs Group Incorporated		12,123		1,830,694


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

LARGE COMPANY VALUE FUND


Security Name	Shares		Value
Capital Markets (continued)
State Street Corporation		27,514	$	1,280,777
				4,547,931

Commercial Banks: 4.56%
Branch Banking & Trust Corporation«		96,572		2,599,718
KeyCorp«		218,839		1,897,334
Zions Bancorporation«		73,076		1,786,708
				6,283,760

Consumer Finance: 1.15%
Capital One Financial Corporation		28,811		1,576,826

Diversified Financial Services: 9.16%
Bank of America Corporation		268,241		3,293,999
Berkshire Hathaway Incorporated Class B†«		32,929		2,742,986
Citigroup Incorporated		541,520		2,485,577
JPMorgan Chase & Company		89,829		4,098,897
				12,621,459

Insurance: 3.87%
ACE Limited		17,255		1,160,399
Chubb Corporation«		19,368		1,262,600
MetLife Incorporated		62,142		2,907,624
				5,330,623

Real Estate Investment Trusts (REITs): 3.68%
Alexandria Real Estate Equities Incorporated		24,985		2,052,518
Simon Property Group Incorporated		26,271		3,009,080
				5,061,598

Health Care: 10.97%
Health Care Equipment & Supplies: 2.18%
Baxter International Incorporated		26,544		1,510,354
Stryker Corporation		25,305		1,492,995
				3,003,349

Health Care Providers & Services: 2.05%
CIGNA Corporation		60,210		2,819,634

Pharmaceuticals: 6.74%
Abbott Laboratories		22,717		1,182,193
Bristol-Myers Squibb Company«		72,907		2,048,687
Johnson & Johnson		37,415		2,458,914
Pfizer Incorporated		82,660		1,732,554
Teva Pharmaceutical Industries Limited ADR		40,774		1,864,595
				9,286,943

Industrials: 11.66%
Commercial Services & Supplies: 1.04%
Cintas Corporation«		46,174		1,433,703


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

LARGE COMPANY VALUE FUND


Security Name	Shares		Value
Construction & Engineering: 0.94%
URS Corporation†		29,085	$	1,301,554

Industrial Conglomerates: 4.05%
General Electric Company		272,444		5,571,480

Machinery: 3.21%
Dover Corporation«		30,715		2,089,849
Eaton Corporation		43,530		2,330,161
				4,420,010

Road & Rail: 2.42%
Norfolk Southern Corporation		44,672		3,336,105

Information Technology: 8.00%
Communications Equipment: 0.82%
Cisco Systems Incorporated		64,463		1,131,970

Computers & Peripherals: 2.37%
EMC Corporation†«		81,907		2,321,244
Hewlett-Packard Company		23,427		945,748
				3,266,992

IT Services: 1.75%
Accenture plc«		42,231		2,412,657

Semiconductors & Semiconductor Equipment: 1.27%
Maxim Integrated Products Incorporated		63,842		1,745,437

Software: 1.79%
Compuware Corporation†		112,579		1,275,520
Microsoft Corporation		45,679		1,188,568
				2,464,088

Materials: 3.59%
Chemicals: 1.01%
Ashland Incorporated		22,321		1,385,688

Containers & Packaging: 0.79%
Owens-Illinois Incorporated†		36,702		1,088,948

Metals & Mining: 1.79%
Alcoa Incorporated«		80,121		1,362,057
United States Steel Corporation«		23,090		1,101,624
				2,463,681

Telecommunication Services: 4.50%
Diversified Telecommunication Services: 3.51%
AT&T Incorporated		89,923		2,798,404
Verizon Communications Incorporated		53,868		2,035,133
				4,833,537

Wireless Telecommunication Services: 0.99%
NII Holdings Incorporated†		32,845		1,365,695


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

LARGE COMPANY VALUE FUND


Security Name								Shares		Value
Utilities: 4.55%
Electric Utilities: 2.60%
Duke Energy Corporation«									95,189	$	1,775,275
Entergy Corporation									25,951		1,809,304
											3,584,579

Multi-Utilities: 1.02%
Dominion Resources Incorporated									30,216		1,402,627

Water Utilities: 0.93%
American Water Works Company Incorporated									43,428		1,275,915

Total Common Stocks (Cost $108,673,630)											134,501,730

Short-Term Investments: 23.04%

Security Name			Interest Rate			Maturity Date		Principal
Corporate Bonds and Notes: 0.22%
Gryphon Funding Limited(a)(i)(v)				0.00	%		08/05/2011	$	260,574		112,203
VFNC Corporation(a)††(i)(v)±				0.25			09/29/2011		314,249		185,407
											297,610


Security Name			Yield					Shares
Investment Companies: 22.82%
Wells Fargo Advantage Cash Investment Money Market Fund (l)(u)				0.09					1,668,707		1,668,707
Wells Fargo Securities Lending Cash Investments, LLC(v)(l)(u)				0.20					29,760,165		29,760,165
											31,428,872

Total Short-Term Investments (Cost $31,576,735)											31,726,482

Total Investments in Securities (Cost $140,250,365)*	120.70	%									166,228,212
Other Assets and Liabilities, Net	(20.70	)									(28,505,959	)

Total Net Assets	100.00	%								$	137,722,253

†	Non-income earning securities.

«	All or a portion of this security is on loan.

(a)

Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees.

††	Security that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

(i)

Illiquid security

(v)

Security represents investment of cash collateral received from securities on loan.

(l)

Investment in an affiliate.

(u)

Rate shown is the 7-day annualized yield at period end.

±	Variable rate investments.

*	Cost for federal income tax purposes is $144,610,168 and net unrealized appreciation (depreciation) consists of:


Gross unrealized appreciation	$	25,068,992
Gross unrealized depreciation		(3,450,948	)

Net unrealized appreciation	$	21,618,044

WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS

NOTES TO PORTFOLIOS OF INVESTMENTS APRIL 30, 2011 (UNAUDITED)

Security valuation

Investments in securities are valued each business day as of the close of regular trading on the New York Stock Exchange, which is usually 4:00 p.m. (Eastern Time). Securities which are traded on a national or foreign securities exchange are valued at the last reported sales price, except that securities listed on The Nasdaq Stock Market, Inc. (“Nasdaq”) are valued at the Nasdaq Official Closing Price (“NOCP”), and if no NOCP is available, then at the last reported sales price. If no sales price is shown on the Nasdaq, the bid price will be used. In the absence of any sale of securities listed on the Nasdaq, and in the case of other securities, including U.S. Government obligations, but excluding debt securities maturing in 60 days or less, the price will be deemed “stale” and the valuations will be determined in accordance with the Funds’ Fair Valuation Procedures.

Securities denominated in foreign currencies are translated into U.S. dollars using the closing rates of exchange in effect on the day of valuation.

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 investments 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 the investments, then those investments are fair valued following procedures approved by the Board of Trustees. These procedures take into account multiple factors including movements in U.S. securities markets after foreign exchanges close. Depending on market activity, such fair valuations may be frequent. Such fair value pricing may result in NAVs that are higher or lower than NAVs based on the closing price or latest quoted bid price.

Debt securities of sufficient credit quality with original maturities of 60 days or less generally are valued at amortized cost which approximates fair value. The amortized cost method involves valuing a security at its cost, plus accretion of discount or minus amortization of premium over the period until maturity.

Investments in open-end mutual funds and non-registered investment companies are generally valued at net asset value.

Certain investments which are not valued using any of the methods discussed above, are valued at their fair value, as determined by procedures established in good faith and approved by the Board of Trustees.

The valuation techniques used by the Funds to measure fair value are consistent with the market approach, income approach and/or cost approach, where applicable, for each security type.

Foreign currency translation

The accounting records of the Fund are maintained in U.S. dollars. Assets, including investment securities, and liabilities denominated in foreign currency are translated into U.S. dollars at the prevailing rates of exchange at the date of valuation. Purchases and sales of securities, and income and expenses are translated at the prevailing rate of exchange on the respective dates of such transactions. Reported 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 in changes in exchange rates.

The changes in net assets arising from changes in exchange rates and the changes in net assets resulting from changes in market prices of securities are not separately presented. Such changes are recorded with net realized and unrealized gains or losses from investments. Gains and losses from certain foreign currency transactions are treated as ordinary income for U.S. federal income tax purposes.

Security loans

The Funds may lend their securities from time to time in order to earn additional income in the form of fees or interest on securities received as collateral or the investment of any cash received as collateral. A Fund continues to receive interest or dividends on the securities loaned. A Fund receives collateral in the form of cash or securities with a value at least equal to the value of the securities on loan. The value of the loaned securities is determined at the close of each business day and any additional required collateral is delivered to the Fund on the next business day. In the event of default or bankruptcy by the borrower, a Fund could experience delays and costs in recovering the loaned securities or

in gaining access to the collateral. In addition, the investment of any cash collateral received may lose all or part of its value. The Fund has the right under the lending agreement to recover the securities from the borrower on demand.

The Funds lend their securities through an unaffiliated securities lending agent. Cash collateral received in connection with their securities lending transactions is invested in Wells Fargo Securities Lending Cash Investments, LLC (the “Cash Collateral Fund”). The Cash Collateral Fund is exempt from registration under Section 3(c)(7) of the 1940 Act and is managed by Wells Fargo Funds Management LLC (“Funds Management”) and is sub-advised by Wells Capital Management Incorporated (“Wells Capital Management”). Funds Management receives an advisory fee starting at 0.05% and declining to 0.01% as the average daily net assets of the Cash Collateral Fund increase. All of the fees received by Funds Management are paid to Wells Capital Management for its services as sub-adviser. The Cash Collateral Fund seeks to provide a positive return compared to the daily Fed Funds Open rate by investing in high-quality, U.S. dollar-denominated short-term money market instruments. Cash Collateral Fund investments are fair valued based upon the amortized cost valuation technique.

In a securities lending transaction, the net asset value of the Funds will be affected by an increase or decrease in the value of the securities loaned and by an increase or decrease in the value of instruments in which cash collateral is invested. The amount of securities lending activity undertaken by the Funds fluctuates from time to time. After the occurrence of a default or impairment of structured investment vehicles purchased in a joint account by the Funds’ former securities lending agent, as the various participating funds’ lending activity fluctuated, their ratable interest in the joint account, including their ratable exposure to the defaulted or impaired structured investment vehicles fluctuated depending on the relative activity of each participating Fund. In order to eliminate the fluctuation of the various participating funds’ ratable exposure to the defaulted or impaired structured investment vehicles, the adviser to the Funds recommended to the Board of Trustees, and the Board of Trustees approved, actions designed to fix the allocation of percentage ownership in defaulted or impaired structured investment vehicles among all funds participating in securities lending (“side pocketing”) based on each participating Fund’s percentage ownership of the total cash collateral investment joint account as of the date the fixed allocation is implemented. Accordingly, on February 13, 2009 a side pocketing occurred, which fixed each participating Fund’s ownership of defaulted or impaired structured investment vehicle in the joint account based on each participating Fund’s percentage ownership of the joint account as of such date.

Futures contracts

Certain Funds may be subject to equity price risk in the normal course of pursuing its investment objectives. The Funds may buy and sell futures contracts in order to gain exposure to, or protect against changes in, security values and interest rates. The primary risks associated with the use of futures contracts are the imperfect correlation between changes in market values of securities held by the Fund and the prices of futures contracts, and the possibility of an illiquid market.

Futures contracts are valued based upon their quoted daily settlement prices when available. The aggregate principal amounts of the contracts are not recorded in the financial statements. Fluctuations in the value of the contracts are recorded in the Statements of Assets and Liabilities as an asset or liability and in the Statements of Operations as unrealized gains or losses until the contracts are closed, at which point they are recorded as net realized gains or losses on futures contracts. With futures contracts, there is minimal counterparty risk to the Fund since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default.

Fair valuation measurements


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 each Fund’s own assumptions in determining the fair value of investments)

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

As of April 30, 2011, the inputs used in valuing each Fund’s assets, which are carried at fair value, were as follows:


Investments in Securities	Quoted Price (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Classic Value Fund
Equity securities
Common stocks	$	764,652,279	$	0	$	10,946,012	$	775,598,291
Short-term investments
Corporate bonds and notes		0		0		246,331		246,331
Investment companies		21,412,027		78,278,033		0		99,690,060

	$	786,064,306	$	78,278,033	$	11,192,343	$	875,534,682
Core Equity Fund
Equity securities
Common stocks	$	801,391,225	$	0	$	11,065,701	$	812,456,926
Short-term investments
Corporate bonds and notes		0		0		2,737,172		2,737,172
Investment companies		21,084,164		108,039,507		0		129,123,671

	$	822,475,389	$	108,039,507	$	13,802,873	$	944,317,769
Disciplined U.S. Core Fund
Equity securities
Common stocks	$	583,459,947	$	0	$	0	$	583,459,947
Short-term investments
Investment companies		4,696,220		31,019,429		0		35,715,649
US Treasury obligations		999,983		0		0		999,983

	$	589,156,150	$	31,019,429	$	0	$	620,175,579
Disciplined Value Fund
Equity securities
Common stocks	$	406,896,243	$	0	$	0	$	406,896,243
Short-term investments
Corporate bonds and notes		0		0		496,083		496,083
Investment companies		4,899,433		34,334,481		0		39,233,914
US Treasury obligations		499,993		0		0		499,993

	$	412,295,669	$	34,334,481	$	496,083	$	447,126,233
Intrinsic Value Fund
Equity securities
Common stocks	$	555,030,717	$	0	$	0	$	555,030,717
Short-term investments
Investment companies		15,414,058		42,140,715		0		57,554,773

	$	570,444,775	$	42,140,715	$	0	$	612,585,490
Large Cap Core Fund
Equity securities
Common stocks	$	183,388,346	$	0	$	0	$	183,388,346
Short-term investments
Corporate bonds and notes		0		0		1,379,884		1,379,884
Investment companies		1,450,647		1,256,801		0		2,707,448

	$	184,838,993	$	1,256,801	$	1,379,884	$	187,475,678


Large Company Value Fund
Equity securities
Common stocks	$	134,501,730	$	0	$	0	$	134,501,730
Short-term investments
Corporate bonds and notes		0		0		297,610		297,610
Investment companies		1,668,707		29,760,165		0		31,428,872

	$	136,170,437	$	29,760,165	$	297,610	$	166,228,212

As of April 30, 2011, the inputs used in valuing the Fund’s other financial instruments, which are carried at fair value, were as follows:


Futures contracts	Quoted Prices (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Disciplined U.S. Core Fund	$	400,052	$	0	$	0	$	400,052
Disciplined Value Fund		157,850		0		0		157,850

Transfers in and transfers out are recognized at the end of the reporting period. For the nine months ended April 30, 2011, the Funds did not have any significant transfers into/out of Level 1 and Level 2.

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:


	Classic Value Fund								Core Equity Fund
	Corporate bonds and notes			Common Stocks		Total			Corporate bonds and notes			Common stocks		Total
Balance as of July 31, 2010	$	269,043		$	0	$	269,043		$	2,807,113		$	0	$	2,807,113
Accrued discounts (premiums)		0			0		0			0			0		0
Realized gains (losses)		0			0		0			85,394			0		85,394
Change in unrealized gains (losses)		51,053			0		51,053			537,525			0		537,525
Purchases		0			0		0			0			0		0
Sales		(73,765	)		0		(73,765	)		(692,860	)		0		(692,860	)
Transfers into Level 3		0			10,946,012		10,946,012			0			11,065,701		11,065,701
Transfer out of Level 3		0			0		0			0			0		0
Transfers in from acquisition(s)		0			0		0			0			0		0

Balance as of April 30, 2011	$	246,331		$	10,946,012	$	11,192,343		$	2,737,172		$	11,065,701	$	13,802,873
Change in unrealized gains (losses) included in earnings relating to securities still held at April 30, 2011	$	14,791		$	0	$	14,791		$	205,955		$	0	$	205,955


	Disciplined Value Fund			Large Cap Core Fund			Large Company Value Fund
Corporate bonds & notes
Balance as of July 31, 2010	$	541,822		$	1,507,110		$	325,050
Accrued discounts (premiums)		0			0			0
Realized gain (loss)		0			0			0
Change in unrealized gains (losses)		102,816			285,987			61,681
Purchases		0			0			0
Sales		(148,555	)		(413,213	)		(89,121	)

Balance as of April 30, 2011	$	496,083		$	1,379,884		$	297,610
Change in unrealized gains (losses) relating to securities	$	29,787		$	82,855		$	17,870

DERIVATIVE TRANSACTIONS

During the nine months ended April 30, 2011, the Disciplined U.S. Core Fund and Disciplined Value Fund entered into futures contracts for hedging purposes.

At April 30, 2011, Disciplined U.S. Core Fund and Disciplined Value Fund had long futures contracts outstanding as follows:

Expiration
Date

Contracts

Type

Initial
Contract
Amount

Value at
April 30, 2011

Net Unrealized
Gains
(Losses)

Disciplined U.S. Core Fund

June 2011

34 Long

S&P 500 Index

11,157,398

11,557,450

400,052

Disciplined Value Fund

June 2011

15 Long

S&P 500 Index

4,941,025

5,098,875

157,850

Disciplined U.S. Core Fund and Disciplined Value Fund had average notional amounts of $9,316 and $3,799, respectively, in long futures contracts during the nine months ended April 30, 2011.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CAPITAL GROWTH FUND


Security Name	Shares		Value
Common Stocks: 99.74%
Consumer Discretionary: 17.42%
Auto Components: 1.85%
Johnson Controls Incorporated		701,000	$	28,741,000

Automobiles: 0.73%
Daimler AG		147,595		11,342,676

Hotels, Restaurants & Leisure: 1.75%
Starbucks Corporation		752,800		27,243,832

Internet & Catalog Retail: 4.56%
Amazon.com Incorporated†		198,610		39,026,865
Priceline.com Incorporated†		58,210		31,841,452
				70,868,317

Media: 6.55%
CBS Corporation Class B		911,470		22,987,273
DIRECTV Group Incorporated†		721,434		35,054,478
Walt Disney Company		1,011,825		43,609,658
				101,651,409

Multiline Retail: 0.39%
Macy’s Incorporated		251,907		6,023,096

Textiles, Apparel & Luxury Goods: 1.59%
Coach Incorporated		411,920		24,636,935

Consumer Staples: 1.84%
Food & Staples Retailing: 1.84%
Costco Wholesale Corporation«		352,400		28,516,208

Energy: 12.25%
Energy Equipment & Services: 5.02%
Baker Hughes Incorporated		328,550		25,433,056
Cameron International Corporation†		350,700		18,488,904
Halliburton Company		675,100		34,079,048
				78,001,008

Oil, Gas & Consumable Fuels: 7.23%
Hess Corporation		264,550		22,740,718
Newfield Exploration Company†		444,870		31,496,796
Occidental Petroleum Corporation		335,950		38,395,726
Pioneer Natural Resources Company		192,430		19,672,119
				112,305,359

Financials: 8.98%
Capital Markets: 3.79%
INVESCO Limited		843,430		20,976,104
T. Rowe Price Group Incorporated		248,500		15,966,125
TD Ameritrade Holding Corporation		1,018,850		21,946,029
				58,888,258


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CAPITAL GROWTH FUND


Security Name	Shares		Value
Commercial Banks: 1.27%
Itau Unibanco Holding SA		827,610	$	19,655,738

Consumer Finance: 2.22%
MasterCard Incorporated		125,160		34,530,392

Insurance: 1.70%
MetLife Incorporated		565,487		26,459,137

Health Care: 7.71%
Health Care Equipment & Supplies: 0.99%
Varian Medical Systems Incorporated†«		218,750		15,356,250

Health Care Providers & Services: 4.55%
AmerisourceBergen Corporation		91,569		3,721,364
Express Scripts Incorporated†		208,320		11,820,077
Laboratory Corporation of America Holdings†«		191,500		18,474,005
UnitedHealth Group Incorporated		745,460		36,698,996
				70,714,442

Health Care Technology: 0.70%
Cerner Corporation†		90,077		10,904,550

Pharmaceuticals: 1.47%
Allergan Incorporated«		285,840		22,741,430

Industrials: 18.76%
Aerospace & Defense: 1.37%
Precision Castparts Corporation		138,000		21,323,760

Electrical Equipment: 2.25%
Cooper Industries plc		528,650		34,864,468

Industrial Conglomerates: 1.64%
General Electric Company		1,246,150		25,483,768

Machinery: 9.45%
AGCO Corporation†«		435,800		25,093,364
Cummins Incorporated		254,311		30,563,096
Danaher Corporation		553,500		30,575,340
Eaton Corporation		599,500		32,091,235
Parker Hannifin Corporation		301,320		28,420,502
				146,743,537

Road & Rail: 4.05%
Hertz Global Holdings Incorporated†«		1,634,250		28,125,443
Union Pacific Corporation		336,700		34,838,349
				62,963,792

Information Technology: 29.07%
Communications Equipment: 1.70%
Juniper Networks Incorporated†		689,760		26,438,501

Computers & Peripherals: 7.53%
Apple Incorporated†		249,725		86,961,737


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CAPITAL GROWTH FUND


Security Name						Shares		Value
Computers & Peripherals (continued)
EMC Corporation†							1,057,420	$	29,967,283
									116,929,020

Electronic Equipment & Instruments: 3.97%
Agilent Technologies Incorporated†							482,350		24,074,089
Ciena Corporation†							563,950		15,925,948
TE Connectivity Limited							604,100		21,656,985
									61,657,022

Internet Software & Services: 3.07%
Baidu.com Incorporated ADR†							252,560		37,510,211
Google Incorporated Class A†							18,800		10,229,080
									47,739,291

IT Services: 2.38%
Cognizant Technology Solutions Corporation Class A†							445,750		36,952,675

Semiconductors & Semiconductor Equipment: 2.19%
ARM Holdings plc ADR«							471,850		14,844,401
Micron Technology Incorporated†							1,696,200		19,150,098
									33,994,499

Software: 8.23%
Autodesk Incorporated†«							686,900		30,896,762
Citrix Systems Incorporated†							327,950		27,659,303
Oracle Corporation							1,053,300		37,971,465
Salesforce.com Incorporated†«							226,330		31,369,338
									127,896,868

Materials: 1.02%
Chemicals: 1.02%
Dow Chemical Company							387,100		15,867,229

Telecommunication Services: 2.69%
Wireless Telecommunication Services: 2.69%
QUALCOMM Incorporated							735,050		41,780,240

Total Common Stocks (Cost $1,240,196,878)									1,549,214,707

Short-Term Investments: 7.77%

	Interest Rate			Maturity Date		Principal
Corporate Bonds and Notes: 0.33%
Gryphon Funding Limited(a)(i)(v)		0.00	%		08/05/2011	$	4,549,026		1,958,810
VFNC Corporation(a)††(i)(v)±		0.25			09/29/2011		5,486,076		3,236,785
									5,195,595


	Yield					Shares
Investment Companies: 7.44%
Wells Fargo Advantage Cash Investment Money Market Fund (l)(u)		0.09					11,467,958		11,467,958


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

CAPITAL GROWTH FUND


Security Name			Yield			Shares		Value
Investment Companies (continued)
Wells Fargo Securities Lending Cash Investments, LLC (v)(l)(u)				0.20	%		104,005,792	$	104,005,792
									115,473,750

Total Short-Term Investments (Cost $118,055,099)									120,669,345

Total Investments in Securities (Cost $1,358,251,977)*	107.51	%							1,669,884,052
Other Assets and Liabilities, Net	(7.51	)							(116,676,291	)

Total Net Assets	100.00	%						$	1,553,207,761

†	Non-income earning security.

«	All or a portion of this security is on loan.

(a)

Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees.

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

(i)

Illiquid security

(v)

Security represents investment of cash collateral received from securities on loan.

(l)

Investment in an affiliate.

±	Variable rate investments.

(u)

Rate shown is the 7-day annualized yield at period end.

*	Cost for federal income tax purposes is $1,358,836,215 and net unrealized appreciation (depreciation) consists of:


Gross unrealized appreciation	$315,503,597
Gross unrealized depreciation	(4,455,760	)

Net unrealized appreciation	$311,047,837


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

ENDEAVOR SELECT FUND


Security Name	Shares		Value
Common Stocks: 99.76%
Consumer Discretionary: 18.79%
Auto Components: 2.26%
Johnson Controls Incorporated		750,700	$	30,778,700

Automobiles: 1.25%
Daimler AG«		222,052		17,064,696

Hotels, Restaurants & Leisure: 1.99%
Starbucks Corporation		746,947		27,032,012

Internet & Catalog Retail: 6.46%
Amazon.com Incorporated†		225,100		44,232,150
Priceline.com Incorporated†		80,000		43,760,800
				87,992,950

Media: 6.43%
DIRECTV Group Incorporated†		836,000		40,621,240
Walt Disney Company		1,089,112		46,940,727
				87,561,967

Multiline Retail: 0.40%
Macy’s Incorporated		228,003		5,451,552

Energy: 12.15%
Energy Equipment & Services: 5.08%
Baker Hughes Incorporated«		363,000		28,099,830
Halliburton Company		815,100		41,146,248
				69,246,078

Oil, Gas & Consumable Fuels: 7.07%
Hess Corporation		289,500		24,885,420
Newfield Exploration Company†		455,723		32,265,188
Occidental Petroleum Corporation		341,800		39,064,322
				96,214,930

Financials: 7.56%
Capital Markets: 1.68%
TD Ameritrade Holding Corporation		1,063,300		22,903,482

Commercial Banks: 1.63%
Itau Unibanco Holding SA		933,400		22,168,250

Consumer Finance: 2.11%
MasterCard Incorporated		103,900		28,664,971

Insurance: 2.14%
MetLife Incorporated«		623,013		29,150,778

Health Care: 5.92%
Health Care Providers & Services: 4.03%
Express Scripts Incorporated†		372,400		21,129,976

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

ENDEAVOR SELECT FUND


Security Name	Shares		Value
Health Care Providers & Services (continued)
UnitedHealth Group Incorporated		685,000	$	33,722,550
				54,852,526

Pharmaceuticals: 1.89%
Allergan Incorporated«		323,900		25,769,484

Industrials: 18.96%
Aerospace & Defense: 1.98%
Precision Castparts Corporation		174,200		26,917,384

Industrial Conglomerates: 2.19%
General Electric Company		1,458,500		29,826,325

Machinery: 10.08%
Cummins Incorporated		311,594		37,447,367
Danaher Corporation		475,000		26,239,000
Eaton Corporation		695,300		37,219,409
Parker Hannifin Corporation		386,200		36,426,384
				137,332,160

Road & Rail: 4.71%
Hertz Global Holdings Incorporated†		1,420,100		24,439,921
Union Pacific Corporation		383,989		39,731,342
				64,171,263

Information Technology: 36.38%
Communications Equipment: 5.70%
Juniper Networks Incorporated†		816,200		31,284,946
QUALCOMM Incorporated		813,900		46,262,076
				77,547,022

Computers & Peripherals: 8.99%
Apple Incorporated†		267,749		93,238,234
EMC Corporation†		1,031,100		29,221,374
				122,459,608

Electronic Equipment & Instruments: 2.47%
Agilent Technologies Incorporated†«		673,900		33,634,349

Internet Software & Services: 5.07%
Baidu.com Incorporated ADR†		298,400		44,318,368
Google Incorporated Class A†		45,400		24,702,140
				69,020,508

IT Services: 2.35%
Cognizant Technology Solutions Corporation Class A†		386,000		31,999,400

Semiconductors & Semiconductor Equipment: 3.16%
ARM Holdings plc ADR«		729,832		22,960,515
Micron Technology Incorporated†		1,775,200		20,042,008
				43,002,523

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

ENDEAVOR SELECT FUND


Security Name								Shares		Value
Software: 8.64%
Citrix Systems Incorporated†									400,900	$	33,811,906
Oracle Corporation									1,427,446		51,459,428
Salesforce.com Incorporated†«									233,700		32,390,821
											117,662,155

Total Common Stocks (Cost $1,013,574,888)											1,358,425,073

Short-Term Investments: 3.97%

			Interest Rate			Maturity Date		Principal
Corporate Bonds and Notes: 0.51%
Gryphon Funding Limited(a)(i)(v)				0.00	%		08/05/2011	$	6,082,233		2,619,009
VFNC Corporation(a)††(i)(v)±				0.25			09/29/2011		7,335,107		4,327,713
											6,946,722


			Yield					Shares
Investment Companies: 3.46%
Wells Fargo Advantage Cash Investment Money Market Fund (l)(u)				0.09					8,190,298		8,190,298
Wells Fargo Securities Lending Cash Investments, LLC (v)(l)(u)				0.20					39,002,619		39,002,619
											47,192,917

Total Short-Term Investments (Cost $50,644,284)											54,139,639

Total Investments in Securities (Cost $1,064,219,172)*	103.73	%									1,412,564,712
Other Assets and Liabilities, Net	(3.73	)									(50,852,773	)

Total Net Assets	100.00	%								$	1,361,711,939

†	Non-income earning security.

«	All or a portion of this security is on loan.

(a)

Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees.

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

(i)

Illiquid security

(v)

Security represents investment of cash collateral received from securities on loan.

±	Variable rate investments.

(l)

Investment in an affiliate.

(u)

Rate shown is the 7-day annualized yield at period end.

*	Cost for federal income tax purposes is $1,066,117,201 and net unrealized appreciation (depreciation) consists of:


Gross unrealized appreciation	$350,791,821
Gross unrealized depreciation	(4,344,310	)

Net unrealized appreciation	$346,447,511

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

GROWTH FUND


Security Name	Shares		Value
Common Stocks: 97.33%
Consumer Discretionary: 20.47%
Auto Components: 1.85%
Gentex Corporation		1,037,000	$	32,509,950
Johnson Controls Incorporated		1,310,000		53,710,000
				86,219,950

Hotels, Restaurants & Leisure: 2.01%
Arcos Dorados Holdings Incorporated†		275,461		6,068,406
Life Time Fitness Incorporated†«		1,983,625		77,599,410
P.F. Chang’s China Bistro Incorporated«		245,000		9,824,500
				93,492,316

Internet & Catalog Retail: 4.89%
Amazon.com Incorporated†		265,000		52,072,500
Netflix Incorporated†«		156,000		36,296,520
Priceline.com Incorporated†«		166,000		90,803,660
Shutterfly Incorporated†«		795,000		48,940,200
				228,112,880

Multiline Retail: 1.09%
Dollar Tree Incorporated†		885,000		50,887,500

Specialty Retail: 10.63%
CarMax Incorporated†«		2,980,000		103,406,000
Ctrip.com International Limited ADR†«		1,620,000		78,926,400
Dick’s Sporting Goods Incorporated†		384,000		15,717,120
Green Mountain Coffee Roasters Incorporated†«		675,000		45,198,000
Hibbett Sports Incorporated†«		1,265,000		47,791,700
Tractor Supply Company		1,385,000		85,689,950
Ulta Salon Cosmetics & Fragrance Incorporated†«		1,500,000		79,785,000
Vitamin Shoppe Incorporated†		1,011,000		39,449,220
				495,963,390

Consumer Staples: 2.00%
Food & Staples Retailing: 2.00%
Fresh Market Incorporated†		321,392		13,440,613
Whole Foods Market Incorporated«		1,270,000		79,705,200
				93,145,813

Energy: 7.53%
Oil, Gas & Consumable Fuels: 7.53%
Brigham Exploration Company†«		1,909,000		64,008,770
Concho Resources Incorporated†		490,000		52,356,500
Continental Resources Incorporated†«		805,000		55,287,400
Northern Oil & Gas Incorporated†«		475,000		11,286,000
Oasis Petroleum Incorporated†«		1,073,000		32,973,290
Pioneer Natural Resources Company		791,000		80,863,930
Southwestern Energy Company†		574,000		25,175,640
Whiting Petroleum Corporation†		422,000		29,329,000
				351,280,530

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

GROWTH FUND


Security Name	Shares		Value
Financials: 5.00%
Capital Markets: 2.96%
Charles Schwab Corporation		105,000	$	1,922,550
Financial Engines Incorporated†«		1,430,000		40,654,900
Goldman Sachs Group Incorporated		15,000		2,265,150
LPL Investment Holdings Incorporated†«		659,007		24,172,377
TD Ameritrade Holding Corporation		3,195,000		68,820,300
				137,835,277

Consumer Finance: 0.95%
American Express Company		360,000		17,668,800
MasterCard Incorporated		97,000		26,761,330
				44,430,130

Diversified Financial Services: 1.09%
CME Group Incorporated		172,000		50,872,440

Health Care: 11.21%
Biotechnology: 2.46%
Alexion Pharmaceuticals Incorporated†		1,059,000		102,606,510
Vertex Pharmaceuticals Incorporated†«		225,000		12,379,500
				114,986,010

Health Care Equipment & Supplies: 4.23%
DexCom Incorporated†«		607,000		10,106,550
Heartware International Incorporated†«		90,000		6,714,900
Intuitive Surgical Incorporated†«		142,000		49,657,400
Masimo Corporation«		125,000		4,348,750
NxStage Medical Incorporated†«		730,000		17,987,200
St. Jude Medical Incorporated		1,827,000		97,634,880
Volcano Corporation†«		410,000		10,930,600
				197,380,280

Health Care Providers & Services: 0.34%
Express Scripts Incorporated†		277,000		15,716,980

Life Sciences Tools & Services: 1.66%
Mettler-Toledo International Incorporated†«		414,000		77,583,600

Pharmaceuticals: 2.52%
Allergan Incorporated		309,000		24,584,040
Shire plc ADR«		685,000		63,848,850
Watson Pharmaceuticals Incorporated†		467,000		28,963,340
				117,396,230

Industrials: 7.68%
Aerospace & Defense: 0.74%
United Technologies Corporation		384,000		34,398,720

Air Freight & Logistics: 0.44%
FedEx Corporation		216,000		20,664,720

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

GROWTH FUND


Security Name	Shares		Value
Electrical Equipment: 2.02%
ABB Limited ADR		408,000	$	11,215,920
Emerson Electric Company		810,000		49,215,600
Polypore International Incorporated†«		546,000		33,726,420
				94,157,940

Machinery: 1.81%
Danaher Corporation		835,000		46,125,400
Joy Global Incorporated«		379,000		38,260,050
				84,385,450

Road & Rail: 2.67%
Kansas City Southern†		670,000		38,933,700
Norfolk Southern Corporation		465,000		34,726,200
Union Pacific Corporation		493,000		51,010,710
				124,670,610

Information Technology: 37.46%
Communications Equipment: 2.76%
Aruba Networks Incorporated†«		894,035		32,122,678
F5 Networks Incorporated†		445,000		45,105,200
Juniper Networks Incorporated†		405,000		15,523,650
QUALCOMM Incorporated		497,000		28,249,480
Riverbed Technology Incorporated†		225,000		7,906,500
				128,907,508

Computers & Peripherals: 7.73%
Apple Incorporated†		703,000		244,805,690
EMC Corporation†		2,846,000		80,655,640
NetApp Incorporated†		680,000		35,346,400
				360,807,730

Electronic Equipment & Instruments: 1.80%
Agilent Technologies Incorporated†		1,680,000		83,848,800

Internet Software & Services: 7.63%
Akamai Technologies Incorporated†		1,085,000		37,367,400
Baidu.com Incorporated ADR†		198,000		29,406,960
Google Incorporated Class A†		115,000		62,571,500
LoopNet Incorporated†		1,421,600		26,413,328
MercadLibre Incorporated«		166,000		15,172,400
QuinStreet Incorporated†«		650,000		11,752,000
Rackspace Hosting Incorporated†«		985,000		45,497,150
VistaPrint NV†«		1,058,000		57,555,200
WebMD Health Corporation†«		1,210,000		70,022,700
				355,758,638

IT Services: 3.46%
Alliance Data Systems Corporation†«		566,000		53,770,000
Cognizant Technology Solutions Corporation Class A†		931,000		77,179,900
VeriFone Holdings Incorporated†«		553,000		30,315,460
				161,265,360

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

GROWTH FUND


Security Name						Shares		Value
Semiconductors & Semiconductor Equipment: 4.92%
Analog Devices Incorporated							225,000	$	9,069,750
Avago Technologies Limited							800,000		26,768,000
Broadcom Corporation Class A							142,000		4,995,560
Cavium Networks Incorporated†«							555,000		26,207,100
First Solar Incorporated†«							30,000		4,187,100
Maxim Integrated Products Incorporated							909,000		24,852,060
Microchip Technology Incorporated«							1,371,000		56,265,840
NetLogic Microsystems Incorporated†«							1,057,000		45,588,410
Silicon Laboratories Incorporated†«							725,000		31,595,500
									229,529,320

Software: 9.16%
Ariba Incorporated†							1,280,000		44,505,600
Check Point Software Technologies Limited†«							350,000		19,225,500
Citrix Systems Incorporated†							516,000		43,519,440
Concur Technologies Incorporated†«							156,000		9,027,720
Fortinet Incorporated†«							1,247,000		60,728,900
PROS Holdings Incorporated†							55,000		862,400
RealPage Incorporated†							1,542,000		49,189,800
Red Hat Incorporated†							1,013,000		48,087,110
Salesforce.com Incorporated†							186,000		25,779,600
SuccessFactors Incorporated†«							1,526,000		52,906,420
Ultimate Software Group Incorporated†«							495,000		27,720,000
VanceInfo Technologies Incorporated ADR†«							500,000		16,080,000
Velti plc†							1,625,000		29,932,500
									427,564,990

Materials: 3.72%
Chemicals: 3.72%
Air Products & Chemicals Incorporated							525,000		50,148,000
Praxair Incorporated							1,160,000		123,447,200
									173,595,200

Telecommunication Services: 2.26%
Wireless Telecommunication Services: 2.26%
NII Holdings Incorporated†							2,535,000		105,405,300

Total Common Stocks (Cost $3,312,646,907)									4,540,263,612

Short-Term Investments: 20.79%

	Interest Rate			Maturity Date		Principal
Corporate Bonds amd Notes: 0.14%
Gryphon Funding Limited(a)(i)(v)		0.00	%		08/05/2011	$	5,805,672		2,499,922
VFNC Corporation(a)††(i)(v)		0.25			09/29/2011		7,001,578		4,130,931
									6,630,853


	Yield					Shares
Investment Companies: 20.65%
Wells Fargo Advantage Cash Investment Money Market Fund (l)(u)		0.09					139,362,257		139,362,257

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

GROWTH FUND


Security Name			Yield			Shares		Value
Investment Companies: (continued)
Wells Fargo Securities Lending Cash Investments, LLC (v)(l)(u)				0.20	%		823,942,207	$	823,942,207
									963,304,464

Total Short-Term Investments (Cost $966,598,897)									969,935,317

Total Investments in Securities (Cost $4,279,245,804)*	118.12	%							5,510,198,929
Other Assets and Liabilities, Net	(18.12	)							(845,259,575	)

Total Net Assets	100.00	%						$	4,664,939,354

†	Non-income earning security.

«	All or a portion of this security is on loan.

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

(a)

Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees.

(i)

Illiquid security

(v)

Security represents investment of cash collateral received from securities on loan.

(l)

Investment in an affiliate.

(u)

Rate shown is the 7-day annualized yield at period end.

*	Cost for federal income tax purposes is $4,282,413,435 and net unrealized appreciation (depreciation) consists of:


Gross unrealized appreciation	$	1,236,703,021
Gross unrealized depreciation		(8,917,527	)

Net unrealized appreciation	$	1,227,785,494

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

LARGE CAP GROWTH FUND


Security Name	Shares		Value
Common Stocks: 98.30%
Consumer Discretionary: 20.62%
Auto Components: 1.14%
Johnson Controls Incorporated		97,000	$	3,977,000

Hotels, Restaurants & Leisure: 4.85%
Arcos Dorados Holdings Incorporated†		21,774		479,681
Carnival Corporation		20,000		761,400
McDonald’s Corporation		65,000		5,090,150
Starbucks Corporation		130,000		4,704,700
Wynn Resorts Limited		40,000		5,886,000
				16,921,931

Internet & Catalog Retail: 5.27%
Amazon.com Incorporated†		43,000		8,449,500
Netflix Incorporated†		11,000		2,559,370
Priceline.com Incorporated†		13,500		7,384,635
				18,393,505

Media: 1.42%
Walt Disney Company		115,000		4,956,500

Multiline Retail: 2.47%
Dollar Tree Incorporated†		90,000		5,175,000
Target Corporation		70,000		3,437,000
				8,612,000

Specialty Retail: 3.40%
CarMax Incorporated†«		149,000		5,170,300
Ctrip.com International Limited ADR†«		95,000		4,628,400
O’Reilly Automotive Incorporated†		35,000		2,067,100
				11,865,800

Textiles, Apparel & Luxury Goods: 2.07%
Coach Incorporated		63,000		3,768,030
Nike Incorporated Class B		42,000		3,457,440
				7,225,470

Consumer Staples: 0.86%
Food & Staples Retailing: 0.86%
Whole Foods Market Incorporated«		48,000		3,012,480

Energy: 8.20%
Energy Equipment & Services: 3.36%
National Oilwell Varco Incorporated		65,000		4,984,850
Schlumberger Limited		75,000		6,731,250
				11,716,100

Oil, Gas & Consumable Fuels: 4.84%
Apache Corporation		25,000		3,334,250
Continental Resources Incorporated†«		42,000		2,884,560
Occidental Petroleum Corporation		45,000		5,143,050

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

LARGE CAP GROWTH FUND


Security Name	Shares		Value
Oil, Gas & Consumable Fuels (continued)
Pioneer Natural Resources Company«		35,000	$	3,578,050
Southwestern Energy Company†		45,000		1,973,700
				16,913,610

Financials: 4.58%
Capital Markets: 2.40%
Ameriprise Financial Incorporated		55,000		3,413,300
TD Ameritrade Holding Corporation		230,000		4,954,200
				8,367,500

Consumer Finance: 0.87%
MasterCard Incorporated		11,000		3,034,790

Diversified Financial Services: 1.31%
CME Group Incorporated		15,500		4,584,435

Health Care: 11.87%
Biotechnology: 2.37%
Alexion Pharmaceuticals Incorporated†«		74,000		7,169,860
Vertex Pharmaceuticals Incorporated†«		20,000		1,100,400
				8,270,260

Health Care Equipment & Supplies: 3.35%
Intuitive Surgical Incorporated†«		11,000		3,846,700
St. Jude Medical Incorporated		147,000		7,855,680
				11,702,380

Health Care Providers & Services: 2.82%
AmerisourceBergen Corporation		116,000		4,714,240
Express Scripts Incorporated†		90,000		5,106,600
				9,820,840

Pharmaceuticals: 3.33%
Allergan Incorporated«		64,000		5,091,840
Shire plc ADR		70,000		6,524,700
				11,616,540

Industrials: 11.79%
Aerospace & Defense: 1.44%
United Technologies Corporation		56,000		5,016,480

Air Freight & Logistics: 1.08%
C.H. Robinson Worldwide Incorporated«		47,000		3,768,460

Electrical Equipment: 3.02%
ABB Limited ADR		70,000		1,924,300
Emerson Electric Company		142,000		8,627,920
				10,552,220

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

LARGE CAP GROWTH FUND


Security Name	Shares		Value
Machinery: 3.58%
Caterpillar Incorporated		33,000	$	3,808,530
Danaher Corporation		75,000		4,143,000
Joy Global Incorporated«		45,000		4,542,750
				12,494,280

Road & Rail: 2.67%
Norfolk Southern Corporation		50,000		3,734,000
Union Pacific Corporation		54,000		5,587,380
				9,321,380

Information Technology: 34.06%
Communications Equipment: 4.27%
F5 Networks Incorporated†		22,000		2,229,920
Juniper Networks Incorporated†«		65,000		2,491,450
QUALCOMM Incorporated		148,000		8,412,320
Riverbed Technology Incorporated†		50,000		1,757,000
				14,890,690

Computers & Peripherals: 8.43%
Apple Incorporated†		60,500		21,067,915
EMC Corporation†		225,000		6,376,500
NetApp Incorporated†		38,000		1,975,240
				29,419,655

Electronic Equipment & Instruments: 1.87%
Agilent Technologies Incorporated†«		131,000		6,538,210

Internet Software & Services: 2.74%
Akamai Technologies Incorporated†		57,000		1,963,080
Google Incorporated Class A†		14,000		7,617,400
				9,580,480

IT Services: 4.37%
Accenture plc		100,000		5,713,000
Cognizant Technology Solutions Corporation Class A†		115,000		9,533,500
				15,246,500

Semiconductors & Semiconductor Equipment: 4.88%
Analog Devices Incorporated		86,000		3,466,660
Avago Technologies Limited		50,000		1,673,000
Broadcom Corporation Class A		34,000		1,196,120
Microchip Technology Incorporated«		145,000		5,950,800
NetLogic Microsystems Incorporated†«		110,000		4,744,300
				17,030,880

Software: 7.50%
Check Point Software Technologies Limited†«		95,000		5,218,350
Citrix Systems Incorporated†		48,000		4,048,320
Intuit Incorporated†«		48,000		2,666,880
Red Hat Incorporated†		107,000		5,079,290
Salesforce.com Incorporated†«		44,000		6,098,400

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

LARGE CAP GROWTH FUND


Security Name								Shares		Value
Software (continued)
VMware Incorporated†«									32,000	$	3,053,760
											26,165,000

Materials: 4.39%
Chemicals: 4.39%
Air Products & Chemicals Incorporated									34,000		3,247,680
Ecolab Incorporated									33,000		1,741,080
Praxair Incorporated									97,000		10,322,740
											15,311,500

Telecommunication Services: 1.93%
Wireless Telecommunication Services: 1.93%
NII Holdings Incorporated†									162,000		6,735,960

Total Common Stocks (Cost $254,885,148)											343,062,836

Short-Term Investments: 19.13%

			Interest Rate			Maturity Date		Principal
Corporate Bonds and Notes: 0.43%
Gryphon Funding Limited(a)(i)(v)				0.00	%		08/05/2011	$	1,320,670		568,681
VFNC Corporation(a)††(i)(v)±				0.25			09/29/2011		1,592,714		939,701
											1,508,382


			Yield					Shares
Investment Companies: 18.70%
Wells Fargo Advantage Cash Investment Money Market Fund (l)(u)				0.09					3,183,838		3,183,838
Wells Fargo Securities Lending Cash Investments, LLC (v)(l)(u)				0.20					62,054,723		62,054,723
											65,238,561

Total Short-Term Investments (Cost $65,987,976)											66,746,943

Total Investments in Securities (Cost $320,873,124)*	117.43	%									409,809,779
Other Assets and Liabilities, Net	(17.43	)									(60,814,733	)

Total Net Assets	100.00	%								$	348,995,046

†	Non-income earning security.

«	All or a portion of this security is on loan.

(a)

Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees.

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

(i)

Illiquid security.

(v)

Security represents investment of cash collateral received from securities on loan.

(l)

Investment in an affiliate.

(u)

Rate shown is the 7-day annualized yield at period end.

±	Variable rate investments.

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

LARGE CAP GROWTH FUND

*	Cost for federal income tax purposes is $321,150,303 and net unrealized appreciation (depreciation) consists of:


Gross unrealized appreciation	$	90,467,006
Gross unrealized depreciation		(1,807,530	)

Net unrealized appreciation	$	88,659,476

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

OMEGA GROWTH FUND


Security Name	Shares		Value
Common Stocks: 99.01%
Consumer Discretionary: 15.54%
Auto Components: 4.94%
BorgWarner Incorporated†«		129,300	$	9,987,132
Johnson Controls Incorporated		243,100		9,967,100
TRW Automotive Holdings Corporation†		134,415		7,669,720
WABCO Holdings Incorporated†		153,000		11,299,050
				38,923,002

Automobiles: 0.71%
Daimler AG«		72,280		5,554,718

Hotels, Restaurants & Leisure: 1.26%
Starbucks Corporation		274,720		9,942,117

Household Durables: 1.08%
Tempur-Pedic International Incorporated†		135,700		8,519,246

Internet & Catalog Retail: 3.80%
Amazon.com Incorporated†		73,900		14,521,350
Priceline.com Incorporated†		28,200		15,425,682
				29,947,032

Media: 1.15%
National CineMedia Incorporated		519,212		9,055,057

Multiline Retail: 0.19%
Macy’s Incorporated		60,714		1,451,672

Specialty Retail: 2.41%
Dick’s Sporting Goods Incorporated†		273,500		11,194,355
Williams-Sonoma Incorporated		179,000		7,770,390
				18,964,745

Energy: 10.72%
Energy Equipment & Services: 4.17%
Complete Production Services Incorporated†«		227,000		7,704,380
Halliburton Company		301,600		15,224,768
Oil States International Incorporated†		119,500		9,919,695
				32,848,843

Oil, Gas & Consumable Fuels: 6.55%
Brigham Exploration Company†«		314,300		10,538,479
Concho Resources Incorporated†		80,019		8,550,030
Newfield Exploration Company†		195,214		13,821,151
Pioneer Natural Resources Company		104,900		10,723,927
SandRidge Energy Incorporated†«		645,700		7,980,852
				51,614,439

Financials: 4.82%
Capital Markets: 2.34%
Invesco Limited		290,900		7,234,683
LPL Investment Holdings Incorporated†		48,802		1,790,057


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

OMEGA GROWTH FUND


Security Name	Shares		Value
Capital Markets (continued)
TD Ameritrade Holding Corporation		437,500	$	9,423,750
				18,448,490

Commercial Banks: 0.91%
Itau Unibanco Holding SA		301,200		7,153,500

Consumer Finance: 1.57%
MasterCard Incorporated		44,700		12,332,283

Health Care: 12.34%
Biotechnology: 1.39%
Alexion Pharmaceuticals Incorporated†		112,825		10,931,614

Health Care Equipment & Supplies: 4.41%
Alere Incorporated†«		248,600		9,233,004
Sirona Dental Systems Incorporated†«		168,407		9,610,987
Varian Medical Systems Incorporated†«		113,500		7,967,700
Volcano Corporation†«		295,400		7,875,364
				34,687,055

Health Care Providers & Services: 4.32%
Express Scripts Incorporated†		188,300		10,684,142
Healthspring Incorporated†		328,046		13,610,629
Laboratory Corporation of America Holdings†		100,900		9,733,823
				34,028,594

Health Care Technology: 1.62%
Cerner Corporation†«		106,200		12,763,116

Life Sciences Tools & Services: 0.60%
Bruker BioSciences Corporation†«		239,900		4,735,626

Industrials: 21.00%
Aerospace & Defense: 4.30%
Embraer SA ADR«		290,900		9,448,432
Precision Castparts Corporation		66,000		10,198,320
Transdigm Group Incorporated†		170,600		14,210,980
				33,857,732

Electrical Equipment: 2.44%
EnerSys†		198,400		7,517,376
TE Connectivity Limited		325,100		11,654,835
				19,172,211

Machinery: 6.47%
AGCO Corporation†		238,100		13,709,798
Cummins Incorporated		101,105		12,150,799
Eaton Corporation		217,600		11,648,128
Parker Hannifin Corporation		142,300		13,421,736
				50,930,461


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

OMEGA GROWTH FUND


Security Name	Shares		Value
Professional Services: 1.63%
Manpower Incorporated		194,300	$	12,872,375

Road & Rail: 4.33%
Hertz Global Holdings Incorporated†«		964,800		16,604,208
Kansas City Southern†		301,100		17,496,921
				34,101,129

Trading Companies & Distributors: 1.83%
Wesco International Incorporated†«		232,600		14,409,570

Information Technology: 30.59%
Communications Equipment: 5.10%
Acme Packet Incorporated†		100,500		8,302,305
Ciena Corporation†		322,600		9,110,224
Finisar Corporation†«		283,666		7,968,178
Juniper Networks Incorporated†«		253,500		9,716,655
LogMeIn Incorporated†«		118,463		5,102,201
				40,199,563

Computers & Peripherals: 6.64%
Apple Incorporated†		113,400		39,489,282
EMC Corporation†		450,200		12,758,668
				52,247,950

IT Services: 1.46%
Gartner Incorporated†		267,426		11,475,250

Semiconductors & Semiconductor Equipment: 4.34%
Atmel Corporation†		578,200		8,846,460
Micron Technology Incorporated†		879,500		9,929,555
NetLogic Microsystems Incorporated†		357,681		15,426,782
				34,202,797

Software: 13.05%
Citrix Systems Incorporated†		148,300		12,507,622
Concur Technologies Incorporated†«		146,900		8,501,103
Oracle Corporation		558,200		20,123,110
QLIK Technologies Incorporated†		419,800		13,458,788
Reald Incorporated†«		261,267		7,597,644
Red Hat Incorporated†		230,900		10,960,823
Salesforce.com Incorporated†«		79,000		10,949,400
SuccessFactors Incorporated†«		137,307		4,760,434
TIBCO Software Incorporated†«		464,400		13,927,356
				102,786,280

Materials: 2.89%
Chemicals: 1.59%
Airgas Incorporated		181,000		12,570,450

Containers & Packaging: 1.30%
Crown Holdings Incorporated†		273,400		10,225,160


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

OMEGA GROWTH FUND


Security Name						Shares		Value
Telecommunication Services: 1.11%
Wireless Telecommunication Services: 1.11%
American Tower Corporation Class A†							166,900	$	8,730,539

Total Common Stocks (Cost $607,871,607)									779,682,616

Short-Term Investments: 17.97%
			Yield
Investment Companies: 17.97%
Wells Fargo Advantage Cash Investment Money Market Fund (l)(u)				0.09	%		13,479,698		13,479,698
Wells Fargo Securities Lending Cash Investments, LLC (l)(u)(v)				0.20			128,004,889		128,004,889
Total Short-Term Investments (Cost $141,484,587)									141,484,587

Total Investments in Securities (Cost $749,356,194)*	116.98	%							921,167,203
Other Assets and Liabilities, Net	(16.98	)							(133,720,002	)

Total Net Assets	100.00	%						$	787,447,201

†	Non-income earning security.

«	All or a portion of this security is on loan.

(l)

Investment in an affiliate.

(u)

Rate shown is the 7-day annualized yield at period end.

(v)

Security represents investment of cash collateral received from securities on loan.

*	Cost for federal income tax purposes is $749,561,526 and net unrealized appreciation (depreciation) consists of:


Gross unrealized appreciation	$	172,684,064
Gross unrealized depreciation		(1,078,387	)

Net unrealized appreciation	$	171,605,677


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PREMIER LARGE COMPANY GROWTH FUND


Security Name	Shares		Value
Common Stocks: 98.32%
Consumer Discretionary: 20.89%
Auto Components: 1.15%
Johnson Controls Incorporated		235,000	$	9,635,000

Hotels, Restaurants & Leisure: 6.08%
Arcos Dorados Holdings Incorporated†		52,218		1,150,363
Carnival Corporation		45,000		1,713,150
Ctrip.com International Limited ADR†		221,400		10,786,608
McDonald’s Corporation		155,000		12,138,050
Starbucks Corporation		310,000		11,218,900
Wynn Resorts Limited«		95,000		13,979,250
				50,986,321

Internet & Catalog Retail: 5.19%
Amazon.com Incorporated†		105,000		20,632,500
Netflix Incorporated†«		26,200		6,095,954
Priceline.com Incorporated†		30,700		16,793,207
				43,521,661

Media: 1.41%
Walt Disney Company		275,000		11,852,500

Multiline Retail: 2.51%
Dollar Tree Incorporated†		225,000		12,937,500
Target Corporation		165,000		8,101,500
				21,039,000

Specialty Retail: 2.40%
CarMax Incorporated†«		357,100		12,391,370
Lowe’s Companies Incorporated		80,000		2,100,000
O’Reilly Automotive Incorporated†		95,000		5,610,700
				20,102,070

Textiles, Apparel & Luxury Goods: 2.15%
Coach Incorporated		150,000		8,971,500
Nike Incorporated Class B		110,000		9,055,200
				18,026,700

Consumer Staples: 0.86%
Food & Staples Retailing: 0.86%
Whole Foods Market Incorporated		114,100		7,160,916

Energy: 8.27%
Energy Equipment & Services: 3.45%
National Oilwell Varco Incorporated		155,000		11,886,950
Schlumberger Limited		190,000		17,052,500
				28,939,450

Oil, Gas & Consumable Fuels: 4.82%
Apache Corporation		60,000		8,002,200
Continental Resources Incorporated†«		100,000		6,868,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PREMIER LARGE COMPANY GROWTH FUND


Security Name	Shares		Value
Oil, Gas & Consumable Fuels (continued)
Occidental Petroleum Corporation		108,000	$	12,343,320
Pioneer Natural Resources Company«		82,000		8,382,860
Southwestern Energy Company†		110,000		4,824,600
				40,420,980

Financials: 4.58%
Capital Markets: 2.37%
Ameriprise Financial Incorporated		130,000		8,067,800
TD Ameritrade Holding Corporation		545,500		11,750,070
				19,817,870

Consumer Finance: 0.89%
MasterCard Incorporated		27,000		7,449,030

Diversified Financial Services: 1.32%
CME Group Incorporated		37,500		11,091,375

Health Care: 11.68%
Biotechnology: 2.38%
Alexion Pharmaceuticals Incorporated†		178,000		17,246,420
Vertex Pharmaceuticals Incorporated†«		50,000		2,751,000
				19,997,420

Health Care Equipment & Supplies: 3.30%
Intuitive Surgical Incorporated†«		26,000		9,092,200
St. Jude Medical Incorporated		347,900		18,591,776
				27,683,976

Health Care Providers & Services: 2.79%
AmerisourceBergen Corporation		275,800		11,208,512
Express Scripts Incorporated†		215,000		12,199,100
				23,407,612

Pharmaceuticals: 3.21%
Allergan Incorporated«		150,700		11,989,692
Shire plc ADR		159,900		14,904,279
				26,893,971

Industrials: 11.92%
Aerospace & Defense: 1.44%
United Technologies Corporation		135,000		12,093,300

Air Freight & Logistics: 1.10%
C.H. Robinson Worldwide Incorporated«		115,000		9,220,700

Electrical Equipment: 3.00%
ABB Limited ADR		165,000		4,535,850
Emerson Electric Company		340,000		20,658,400
				25,194,250

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PREMIER LARGE COMPANY GROWTH FUND


Security Name	Shares		Value
Machinery: 3.71%
Caterpillar Incorporated		85,000	$	9,809,850
Danaher Corporation		185,000		10,219,400
Joy Global Incorporated«		110,000		11,104,500
				31,133,750

Road & Rail: 2.67%
Norfolk Southern Corporation		119,200		8,901,856
Union Pacific Corporation		130,000		13,451,100
				22,352,956

Information Technology: 33.79%
Communications Equipment: 4.32%
F5 Networks Incorporated†		55,000		5,574,800
Juniper Networks Incorporated†		160,000		6,132,800
QUALCOMM Incorporated		355,000		20,178,200
Riverbed Technology Incorporated†		125,000		4,392,500
				36,278,300

Computers & Peripherals: 8.46%
Apple Incorporated†		145,000		50,493,350
EMC Corporation†		556,600		15,774,044
NetApp Incorporated†		90,000		4,678,200
				70,945,594

Electronic Equipment & Instruments: 1.86%
Agilent Technologies Incorporated†«		312,000		15,571,920

Internet Software & Services: 2.76%
Akamai Technologies Incorporated†		135,000		4,649,400
Google Incorporated Class A†		34,000		18,499,400
				23,148,800

IT Services: 4.27%
Accenture plc		240,700		13,751,191
Cognizant Technology Solutions Corporation Class A†		266,100		22,059,690
				35,810,881

Semiconductors & Semiconductor Equipment: 4.76%
Analog Devices Incorporated		203,500		8,203,085
Avago Technologies Limited		115,000		3,847,900
Broadcom Corporation Class A		82,600		2,905,868
Microchip Technology Incorporated«		340,000		13,953,600
NetLogic Microsystems Incorporated†«		255,000		10,998,150
				39,908,603

Software: 7.36%
Check Point Software Technologies Limited†«		225,000		12,359,250
Citrix Systems Incorporated†		105,000		8,855,700
Intuit Incorporated†«		120,000		6,667,200
Red Hat Incorporated†		255,000		12,104,850
Salesforce.com Incorporated†«		105,000		14,553,000

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PREMIER LARGE COMPANY GROWTH FUND


Security Name								Shares		Value
Software (continued)
VMware Incorporated†									75,000	$	7,157,250
											61,697,250

Materials: 4.43%
Chemicals: 4.43%
Air Products & Chemicals Incorporated									80,400		7,679,808
Ecolab Incorporated									80,000		4,220,800
Praxair Incorporated									237,400		25,264,108
											37,164,716

Telecommunication Services: 1.90%
Wireless Telecommunication Services: 1.90%
NII Holdings Incorporated†									383,600		15,950,087

Total Common Stocks (Cost $584,139,951)											824,496,959


			Interest Rate			Maturity Date		Principal
Short-Term Investments: 13.68%
Corporate Bonds and Notes: 0.19%
Gryphon Funding Limited(a)(i)(v)				0.00	%		08/05/2011	$	1,437,050		618,794
VFNC Corporation(a)††(i)(v)±				0.25			09/29/2011		1,733,067		1,022,510
											1,641,304


			Yield					Shares
Investment Companies: 13.49%
Wells Fargo Advantage Cash Investment Money Market Fund(l)(u)				0.09					9,647,568		9,647,568
Wells Fargo Securities Lending Cash Investments, LLC(v)(l)(u)				0.20					103,447,836		103,447,836
											113,095,404

Total Short-Term Investments (Cost $113,910,859)											114,736,708

Total Investments in Securities (Cost $698,050,810)*	112.00	%									939,233,667
Other Assets and Liabilities, Net	(12.00	)									(100,609,260	)

Total Net Assets	100.00	%								$	838,624,407

†	Non-income earning security.

«	All or a portion of this security is on loan.

(a)

Security is fair valued by the Management Valuation Team, and in certain instances by the Board of Trustees, in accordance with procedures approved by the Board of Trustees.

††	Securities that may be resold to “qualified institutional buyers” under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.

(i)

Illiquid security.

(v)

Security represents investment of cash collateral received from securities on loan.

±	Variable rate investments.

(l)

Investment in an affiliate.

(u)

Rate shown is the 7-day annualized yield at period end.

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

PREMIER LARGE COMPANY GROWTH FUND

*	Cost for federal income tax purposes is $698,243,829 and net unrealized appreciation (depreciation) consists of:


Gross unrealized appreciation	$242,980,295
Gross unrealized depreciation	(1,990,457	)

Net unrealized appreciation	$240,989,838

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

STRATEGIC LARGE CAP GROWTH FUND


Security Name	Shares		Value
Common Stocks: 96.29%
Consumer Discretionary: 17.59%
Auto Components: 0.94%
Autoliv Incorporated«		67,325	$	5,394,752

Automobiles: 2.47%
Ford Motor Company†		914,050		14,140,354

Hotels, Restaurants & Leisure: 4.85%
Cheesecake Factory Incorporated«†		203,025		5,972,996
Las Vegas Sands Corporation†		232,500		10,929,825
Starbucks Corporation		301,925		10,926,666
				27,829,487

Internet & Catalog Retail: 2.76%
Amazon.com Incorporated«†		48,700		9,569,550
Priceline.com Incorporated†		11,475		6,276,940
				15,846,490

Media: 1.50%
CBS Corporation Class B		341,000		8,600,020

Multiline Retail: 1.06%
NU Skin Enterprises Incorporated Class A«		188,875		6,060,999

Specialty Retail: 4.01%
Abercrombie & Fitch Company Class A«		107,100		7,582,680
Dick’s Sporting Goods Incorporated†		196,125		8,027,396
Tiffany & Company«		106,450		7,391,888
				23,001,964

Consumer Staples: 2.94%
Tobacco: 2.94%
Philip Morris International Incorporated		242,522		16,840,728

Energy: 11.17%
Energy Equipment & Services: 5.93%
National Oilwell Varco Incorporated		105,575		8,096,547
Rowan Companies Incorporated†		211,475		8,818,508
Schlumberger Limited		190,175		17,068,206
				33,983,261

Oil, Gas & Consumable Fuels: 5.24%
Apache Corporation		74,050		9,876,049
ConocoPhillips		145,800		11,507,994
Hess Corporation		100,975		8,679,811
				30,063,854


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

STRATEGIC LARGE CAP GROWTH FUND


Security Name	Shares		Value
Financials: 9.98%
Commercial Banks: 2.36%
Comerica Incorporated		116,650	$	4,424,535
US Bancorp		352,775		9,108,651
				13,533,186

Consumer Finance: 2.01%
Visa Incorporated Class A		147,650		11,534,418

Diversified Financial Services: 3.93%
American Express Company		270,600		13,281,048
JPMorgan Chase & Company		203,450		9,283,424
				22,564,472

Insurance: 1.68%
MetLife Incorporated		205,600		9,620,024

Health Care: 8.26%
Biotechnology: 1.98%
Celgene Corporation†		192,825		11,353,536

Health Care Providers & Services: 1.87%
Express Scripts Incorporated†		188,750		10,709,675

Pharmaceuticals: 4.41%
Bristol-Myers Squibb Company«		292,675		8,224,168
Merck & Company Incorporated		258,900		9,307,455
Teva Pharmaceutical Industries Limited ADR		169,350		7,744,376
				25,275,999

Industrials: 13.42%
Aerospace & Defense: 3.19%
Goodrich Corporation		111,850		9,884,185
Honeywell International Incorporated		137,250		8,403,818
				18,288,003

Air Freight & Logistics: 3.20%
FedEx Corporation		58,550		5,601,479
United Parcel Service Incorporated Class B		170,000		12,744,900
				18,346,379

Industrial Conglomerates: 2.43%
General Electric Company		683,225		13,971,951

Machinery: 4.60%
Cummins Incorporated		51,175		6,150,212
Deere & Company		86,675		8,450,813
Eaton Corporation		72,950		3,905,014
Joy Global Incorporated«		48,475		4,893,551
SPX Corporation		34,325		2,967,396
				26,366,986


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

STRATEGIC LARGE CAP GROWTH FUND


Security Name				Shares		Value
Information Technology: 30.90%
Communications Equipment: 6.56%
Acme Packet Incorporated«†					31,325	$	2,587,758
Aruba Networks Incorporated«†					43,900		1,577,327
Finisar Corporation«†					114,250		3,209,283
JDS Uniphase Corporation†					300,400		6,260,336
QUALCOMM Incorporated					287,350		16,332,974
Riverbed Technology Incorporated«†					218,250		7,669,305
							37,636,983

Computers & Peripherals: 10.15%
Apple Incorporated†					97,515		33,957,648
EMC Corporation†					487,050		13,802,997
NetApp Incorporated«†					200,750		10,434,985
							58,195,630

Electronic Equipment & Instruments: 1.53%
Agilent Technologies Incorporated«†					175,450		8,756,710

Internet Software & Services: 3.44%
Google Incorporated Class A†					36,324		19,763,888

Semiconductors & Semiconductor Equipment: 0.50%
ARM Holdings plc ADR«					90,775		2,855,782

Software: 8.72%
Check Point Software Technologies Limited«†					154,325		8,477,072
Microsoft Corporation					111,025		2,888,871
Oracle Corporation					408,095		14,711,825
Red Hat Incorporated†					181,900		8,634,793
Salesforce.com Incorporated«†					57,350		7,948,710
SuccessFactors Incorporated«†					64,250		2,227,548
VMware Incorporated†					53,600		5,115,048
							50,003,867

Materials: 2.03%
Metals & Mining: 2.03%
Freeport-McMoRan Copper & Gold Incorporated Class B					211,650		11,647,091

Total Common Stocks (Cost $441,793,335)							552,186,489

Short-Term Investments: 15.97%

	Yield
Investment Companies: 15.97%
Wells Fargo Advantage Cash Investment Money Market Fund (l)(u)		0.09	%		24,072,359		24,072,359
Wells Fargo Securities Lending Cash Investments, LLC (l)(u)(v)		0.20			67,493,656		67,493,656
Total Short-Term Investments (Cost $91,566,015)							91,566,015


WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

STRATEGIC LARGE CAP GROWTH FUND


Total Investments in Securities (Cost $533,359,350)*	112.26	%	$	643,752,504
Other Assets and Liabilities, Net	(12.26	)		(70,326,381	)

Total Net Assets	100.00	%	$	573,426,123

«	All or a portion of this security is on loan.

†	Non-income earning security.

(l)

Investment in an affiliate.

(u)

Rate shown is the 7-day annualized yield at period end.

(v)

Security represents investment of cash collateral received from securities on loan.

*	Cost for federal income tax purposes is $536,133,118 and net unrealized appreciation (depreciation) consists of:


Gross unrealized appreciation	$	112,291,457
Gross unrealized depreciation		(4,672,071	)

Net unrealized appreciation	$	107,619,386

WELLS FARGO ADVANTAGE LARGE CAP STOCK FUNDS

NOTES TO PORTFOLIOS OF INVESTMENTS APRIL 30, 2011 (UNAUDITED)

Securities valuation

Securities denominated in foreign currencies are translated into U.S. dollars using the closing rates of exchange in effect on the day of valuation.

Investments in open-end mutual funds and non-registered investment companies are generally valued at net asset value.

The valuation techniques used by the Funds to measure fair value are consistent with the market approach, income approach and/or cost approach, where applicable, for each security type.

Security loans

invested. The amount of securities lending activity undertaken by the Funds fluctuates from time to time. After the occurrence of a default or impairment of structured investment vehicles purchased in a joint account by the Funds’ former securities lending agent, as the various participating funds’ lending activity fluctuated, their ratable interest in the joint account, including their ratable exposure to the defaulted or impaired structured investment vehicles fluctuated depending on the relative activity of each participating Fund. In order to eliminate the fluctuation of the various participating funds’ ratable exposure to the defaulted or impaired structured investment vehicles, the adviser to the Funds recommended to the Board of Trustees, and the Board of Trustees approved, actions designed to fix the allocation of percentage ownership in defaulted or impaired structured investment vehicles among all funds participating in securities lending (“side pocketing”) based on each participating Fund’s percentage ownership of the total cash collateral investment joint account as of the date the fixed allocation is implemented. Accordingly, on February 13, 2009 a side pocketing occurred, which fixed each participating Fund’s ownership of defaulted or impaired structured investment vehicle in the joint account based on each participating Fund’s percentage ownership of the joint account as of such date.

Fair valuation measurements

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 securities are not necessarily an indication of the risk associated with investing in those securities.

As of April 30, 2011, the inputs used in valuing the Funds’ assets, which are carried at fair value, were as follows:


	Quoted Price		Significant Other Observable Inputs		Significant Unobservable Inputs
Investments in Securities	(Level 1)		(Level 2)		(Level 3)		Total
Capital Growth Fund
Equity securities
Common stocks	$	1,549,214,707	$	0	$	0	$	1,549,214,707
Short-term investments
Corporate bonds and notes		0		0		5,195,595		5,195,595
Investment companies		11,467,958		104,005,792		0		115,473,750

	$	1,560,682,665	$	104,005,792	$	5,195,595	$	1,669,884,052
Endeavor Select Fund
Equity securities
Common stocks	$	1,358,425,073	$	0	$	0	$	1,358,425,073
Short-term investments
Corporate bonds and notes		0		0		6,946,722		6,946,722
Investment companies		8,190,298		39,002,619		0		47,192,917

	$	1,366,615,371	$	39,002,619	$	6,946,722	$	1,412,564,712


Growth Fund
Equity securities
Common stocks	$	4,540,263,612	$	0	$	0	$	4,540,263,612
Short-term investments
Corporate bonds and notes		0		0		6,630,853		6,630,853
Investment companies		139,362,257		823,942,207		0		963,304,464

	$	4,679,625,869	$	823,942,207	$	6,630,853	$	5,510,198,929
Large Cap Growth Fund
Equity securities
Common stocks	$	343,062,836	$	0	$	0	$	343,062,836
Short-term investments
Corporate bonds and notes		0		0		1,508,382		1,508,382
Investment companies		3,183,838		62,054,723		0		65,238,561

	$	346,246,674	$	62,054,723	$	1,508,382	$	409,809,779
Omega Growth Fund
Equity securities
Common stocks	$	779,682,616	$	0	$	0	$	779,682,616
Short-term investments
Investment companies		13,479,698		128,004,889		0		141,484,587

	$	793,162,314	$	128,004,889	$	0	$	921,167,203
Premier Large Company Growth Fund
Equity securities
Common stocks	$	824,496,959	$	0	$	0	$	824,496,959
Short-term investments
Corporate bonds and notes		0		0		1,641,304		1,641,304
Investment companies		9,647,568		103,447,836		0		113,095,404

	$	834,144,527	$	103,447,836	$	1,641,304	$	939,233,667
Strategic Large Cap Growth Fund
Equity securities
Common stocks	$	552,186,489	$	0	$	0	$	552,186,489
Short-term investments
Investment companies		24,072,359		67,493,656		0		91,566,015

	$	576,258,848	$	67,493,656	$	0	$	643,752,504

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:


	Capital Growth Fund			Endeavor Select Fund			Growth Fund			Large Cap Growth Fund			Premier Large Company Growth Fund
Corporate bonds and notes
Balance as of July 31, 2010	$	5,674,630		$	7,587,211		$	7,242,219		$	1,647,455		$	1,792,632
Realized gains (losses)		0			0			0			0			0
Change in unrealized gains (losses)		1,076,811			1,439,741			1,374,275			312,619			340,168
Purchases		0			0			0			0			0
Sales		(1,555,846	)		(2,080,230	)		(1,985,641	)		(451,692	)		(491,496	)
Transfer into Level 3		0			0			0			0			0
Transfer out of Level 3		0			0			0			0			0

Balance as of April 30, 2011	$	5,195,595		$	6,946,722		$	6,630,853		$	1,508,382		$	1,641,304
Change in unrealized gains (losses) relating to securities still held at April 30, 2011	$	311,971		$	417,118		$	398,151		$	90,571		$	98,552


WELLS FARGO ADVANTAGE EQUITY GATEWAY FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

INDEX FUND


Security Name			Face/Share Amount		Value
Investment in Affiliated Master Portfolio: 100.01%
Wells Fargo Advantage Index Portfolio				N/A	$	2,366,745,474
Total Investment in Affiliated Master Portfolio (Cost $1,666,890,992)						2,366,745,474

Total Investments in Securities (Cost $1,666,890,992)*	100.01	%				2,366,745,474
Other Assets and Liabilities, Net	(0.01	)				(269,450	)

Total Net Assets	100.00	%			$	2,366,476,024

*	Cost for federal income tax purposes is substantially the same as for financial reporting purposes.

WELLS FARGO ADVANTAGE EQUITY GATEWAY FUND — INDEX FUND

NOTES TO PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

The Fund’s portfolio of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the Fund’s shareholders. For more information regarding the Fund and its holdings, please see the Fund’s most recent prospectus and annual report.

Securities valuation

Investments in the Master Portfolio are valued daily based on the Fund’s proportionate share of the Master Portfolio’s net assets, which are also valued daily.

The valuation techniques used by the Fund to measure fair value are consistent with the market approach, income approach and/or cost approach, where applicable, for each security type.

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:

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At April 30, 2011, all of the investments of the Fund were in an Affiliated Master Portfolio which was carried at fair value and designated as a Level 2 input.

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WELLS FARGO ADVANTAGE SOCIAL SUSTAINABILITY FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)


Security Name	Shares		Value
Common Stocks: 98.41%
Consumer Discretionary: 11.52%
Hotels, Restaurants & Leisure: 2.27%
Starbucks Corporation		4,777	$	172,880

Internet & Catalog Retail: 1.33%
Expedia Incorporated		4,043		101,196

Media: 1.78%
Walt Disney Company		3,154		135,937

Multiline Retail: 1.57%
Nordstrom Incorporated		2,510		119,351

Specialty Retail: 4.57%
Home Depot Incorporated		5,059		187,891
TJX Companies Incorporated		3,000		160,860
				348,751

Consumer Staples: 7.03%
Food & Staples Retailing: 2.24%
Costco Wholesale Corporation		2,109		170,660

Food Products: 2.63%
General Mills Incorporated		5,194		200,385

Household Products: 2.16%
Procter & Gamble Company		2,536		164,586

Energy: 12.22%
Energy Equipment & Services: 4.24%
Cameron International Corporation†		3,196		168,493
Noble Corporation		3,600		154,836
				323,329

Oil, Gas & Consumable Fuels: 7.98%
Apache Corporation		1,541		205,523
Noble Energy Incorporated		1,855		178,581
Statoil ASA ADR		7,650		224,222
				608,326

Financials: 16.73%
Capital Markets: 1.75%
Franklin Resources Incorporated		1,035		133,639

Commercial Banks: 5.68%
PNC Financial Services Group Incorporated		3,016		188,017
Toronto-Dominion Bank ADR		1,351		117,037
US Bancorp		4,942		127,602
				432,656

Consumer Finance: 3.13%
Capital One Financial Corporation		4,359		238,568

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE EQUITY GATEWAY FUNDS		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

SOCIAL SUSTAINABILITY FUND


Security Name	Shares		Value
Diversified Financial Services: 1.75%
JPMorgan Chase & Company		2,924	$	133,422

Insurance: 4.42%
ACE Limited		2,341		157,432
Prudential Financial Incorporated		2,824		179,098
				336,530

Health Care: 12.16%
Health Care Equipment & Supplies: 4.08%
Becton Dickinson & Company		1,900		163,286
Stryker Corporation		2,500		147,500
				310,786

Health Care Providers & Services: 2.49%
Laboratory Corporation of America Holdings†		1,972		190,239

Pharmaceuticals: 5.59%
Johnson & Johnson		3,057		200,906
Novartis AG ADR		1,622		95,974
Pfizer Incorporated		6,169		129,302
				426,182

Industrials: 11.89%
Air Freight & Logistics: 1.97%
United Parcel Service Incorporated Class B		1,997		149,715

Electrical Equipment: 3.19%
Emerson Electric Company		4,004		243,283

Industrial Conglomerates: 1.84%
3M Company		1,439		139,885

Professional Services: 1.97%
Manpower Incorporated		2,270		150,388

Road & Rail: 2.92%
Norfolk Southern Corporation		2,984		222,845

Information Technology: 17.98%
Communications Equipment: 3.86%
Cisco Systems Incorporated		6,388		112,173
QUALCOMM Incorporated		3,211		182,513
				294,686

Computers & Peripherals: 2.92%
EMC Corporation†		7,846		222,356

Electronic Equipment & Instruments: 1.47%
Corning Incorporated		5,359		112,217

Internet Software & Services: 2.93%
Google Incorporated Class A†		411		223,625

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.


WELLS FARGO ADVANTAGE SOCIAL SUSTAINABILITY FUND		PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)


Security Name						Shares		Value
IT Services: 2.59%
Accenture plc							3,453	$	197,270

Semiconductors & Semiconductor Equipment: 1.62%
Texas Instruments Incorporated							3,471		123,325

Software: 2.59%
Microsoft Corporation							7,579		197,206

Materials: 4.59%
Chemicals: 3.03%
Lubrizol Corporation							898		120,799
Potash Corporation of Saskatchewan							1,950		109,941
									230,740

Metals & Mining: 1.56%
Nucor Corporation							2,529		118,762

Telecommunication Services: 2.18%
Wireless Telecommunication Services: 2.18%
Vodafone Group plc ADR							5,699		165,955

Utilities: 2.11%
Electric Utilities: 0.77%
Consolidated Edison Incorporated							1,136		59,208

Gas Utilities: 1.34%
AGL Resources Incorporated							1,101		45,703
UGI Corporation							1,689		56,244
									101,947

Total Common Stocks (Cost $6,215,016)									7,500,836

Short-Term Investments: 4.58%

			Yield
Investment Companies: 4.58%
Wells Fargo Advantage Government Money Market Fund(l)(u)				0.01	%		349,124		349,124

Total Short-Term Investments (Cost $349,124)									349,124
Total Investments in Securities (Cost $6,564,140)*	102.99	%							7,849,960
Other Assets and Liabilities, Net	(2.99	)							(228,256	)

Total Net Assets	100.00	%						$	7,621,704

†	Non-income earning securities.

(l)

Investment in an affiliate.

(u)

Rate shown is the 7-day annualized yield at period end.

*	Cost for federal income tax purposes is $6,571,570 and net unrealized appreciation (depreciation) consists of:


Gross unrealized appreciation	$	1,316,858
Gross unrealized depreciation		(38,468	)

Net unrealized appreciation	$	1,278,390

The Portfolio of Investments should be read in conjunction with the Financial Statements and Notes to Financial Statements which are included in the Fund’s audited Annual Report or Semi-Annual Report. These reports include additional information about the Fund’s security valuation policies and about certain security types invested in by the Fund.

WELLS FARGO ADVANTAGE SOCIAL SUSTAINABILITY FUND

NOTES TO PORTFOLIO OF INVESTMENTS — April 30, 2011 (UNAUDITED)

Securities valuation

Securities denominated in foreign currencies are translated into U.S. dollars using the closing rates of exchange in effect on the day of valuation.

Investments in open-end mutual funds and non-registered investment companies are generally valued at net asset value.

The valuation techniques used by the Funds to measure fair value are consistent with the market approach, income approach and/or cost approach, where applicable, for each security type.

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:

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

As of April 30, 2011, the inputs used in valuing the Fund’s assets, which are carried at fair value, were as follows:


Investments in Securities	Quoted Prices (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Equity securities
Common stocks	$	7,500,836	$	0	$	0	$	7,500,836
Short-term investments
Investment companies		349,124		0		0		349,124

	$	7,849,960	$	0	$	0	$	7,849,960

For the nine months ended April 30, 2011, the Fund did not have any significant transfers into/out of Level 1 and Level 2.

ITEM 2.

CONTROLS AND PROCEDURES

(a) The President and Treasurer have concluded that the Wells Fargo Funds Trust (the “Trust”) disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons based on their evaluation of these controls and procedures as of a date within 90 days of the filing of this report.

(b) There were no significant changes in the Trust’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the registrant’s last fiscal quarter that has materially affected or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


Wells Fargo Funds Trust

By:		/s/ KARLA M. RABUSCH
		Karla M. Rabusch
		President
Date:		June 28, 2011

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


Wells Fargo Funds Trust

By:		/s/ KARLA M. RABUSCH
		Karla M. Rabusch
		President
Date:		June 28, 2011

By:		/s/ KASEY L. PHILLIPS
		Kasey L. Phillips
		Treasurer
Date:		June 28, 2011