|
|
Interest
rate
|
Maturity
date
|
Principal
|
Value
|
|
Agency securities: 75.36%
|
|
|
|
|
|
|
FHLMC (30 Day Average U.S. SOFR+2.13%)±
|
|
4.24
%
|
6-1-2052
|
$
|
3,925,250
|
$3,717,008
|
FHLMC (RFUCCT1Y+1.62%)±
|
|
6.13
|
2-1-2046
|
|
16,041,326
|
16,330,217
|
FHLMC (RFUCCT1Y+1.62%)±
|
|
6.18
|
8-1-2046
|
|
4,042,602
|
4,108,214
|
FHLMC (RFUCCT1Y+1.63%)±
|
|
3.80
|
2-1-2050
|
|
6,953,217
|
6,879,821
|
FHLMC Series 4272 Class FD (30 Day Average U.S. SOFR+0.46%)±
|
|
5.79
|
11-15-2043
|
|
1,622,107
|
1,595,504
|
FHLMC Series 4273 Class PF (30 Day Average U.S. SOFR+0.51%)±
|
|
5.84
|
11-15-2043
|
|
1,801,178
|
1,768,329
|
FHLMC Series 4281 Class FA (30 Day Average U.S. SOFR+0.51%)±
|
|
5.84
|
12-15-2043
|
|
1,280,188
|
1,257,320
|
FHLMC Series 4683 Class EA
|
|
2.50
|
5-15-2047
|
|
4,649,436
|
4,309,010
|
FHLMC Series 5335 Class FB (30 Day Average U.S. SOFR+0.81%)±
|
|
6.14
|
10-15-2039
|
|
1,981,900
|
1,981,648
|
FHLMC Series 5399 Class FB (30 Day Average U.S. SOFR+0.90%)±
|
|
6.22
|
4-25-2054
|
|
5,255,758
|
5,250,710
|
FNMA
|
|
3.00
|
8-1-2036
|
|
2,579,020
|
2,399,024
|
FNMA
|
|
3.00
|
11-1-2039
|
|
3,461,197
|
3,192,997
|
FNMA
|
|
3.50
|
7-1-2043
|
|
1,810,373
|
1,686,970
|
FNMA
|
|
4.00
|
3-1-2031
|
|
1,825,297
|
1,796,482
|
FNMA
|
|
4.00
|
2-1-2034
|
|
1,758,832
|
1,684,617
|
FNMA
|
|
4.00
|
6-1-2038
|
|
3,834,063
|
3,711,819
|
FNMA (1 Year Treasury Constant Maturity+2.05%)±
|
|
3.93
|
3-1-2049
|
|
2,151,944
|
2,114,954
|
FNMA (RFUCCT1Y+1.58%)±
|
|
6.07
|
6-1-2045
|
|
457,586
|
466,639
|
FNMA (RFUCCT1Y+1.58%)±
|
|
6.42
|
1-1-2046
|
|
504,512
|
513,029
|
FNMA (RFUCCT1Y+1.61%)±
|
|
3.45
|
7-1-2049
|
|
17,162,904
|
16,229,584
|
FNMA Series 2008-7 Class FA (30 Day Average U.S. SOFR+0.56%)±
|
|
5.89
|
2-25-2038
|
|
337,648
|
334,452
|
FNMA Series 2010-111 Class KF (30 Day Average
U.S. SOFR+0.51%)±
|
|
5.84
|
10-25-2040
|
|
4,077,018
|
4,035,582
|
FNMA Series 2011-47 Class GF (30 Day Average U.S. SOFR+0.68%)±
|
|
6.01
|
6-25-2041
|
|
6,712,902
|
6,650,096
|
FNMA Series 2011-55 Class FH (30 Day Average U.S. SOFR+0.55%)±
|
|
5.88
|
6-25-2041
|
|
2,100,029
|
2,069,440
|
FNMA Series 2011-58 Class F (30 Day Average U.S. SOFR+0.58%)±
|
|
5.91
|
7-25-2041
|
|
1,570,978
|
1,550,949
|
FNMA Series 2012-9 Class CF (30 Day Average U.S. SOFR+0.56%)±
|
|
5.89
|
2-25-2042
|
|
6,979,883
|
6,879,193
|
FNMA Series 2014-74 Class FC (30 Day Average U.S. SOFR+0.51%)±
|
|
5.84
|
11-25-2044
|
|
975,063
|
950,277
|
FNMA Series 2016-10 Class FA (30 Day Average U.S. SOFR+0.46%)±
|
|
5.79
|
3-25-2046
|
|
1,291,610
|
1,267,989
|
FNMA Series 2016-3 Class FB (30 Day Average U.S. SOFR+0.46%)±
|
|
5.79
|
2-25-2046
|
|
3,091,602
|
3,063,262
|
FNMA Series 2016-69 Class DF (30 Day Average U.S. SOFR+0.51%)±
|
|
5.84
|
10-25-2046
|
|
1,043,942
|
1,028,413
|
FNMA Series 2016-81 Class FA (30 Day Average U.S. SOFR+0.46%)±
|
|
5.79
|
11-25-2046
|
|
1,454,438
|
1,429,000
|
FNMA Series 2016-90 Class FA (30 Day Average U.S. SOFR+0.51%)±
|
|
5.84
|
12-25-2046
|
|
3,348,453
|
3,296,168
|
FNMA Series 2017-11 Class FA (30 Day Average U.S. SOFR+0.51%)±
|
|
5.84
|
3-25-2047
|
|
1,434,144
|
1,407,619
|
FNMA Series 2017-35 Class MC
|
|
2.63
|
12-25-2044
|
|
5,776,619
|
5,418,615
|
FNMA Series 2017-82 Class FE (30 Day Average U.S. SOFR+0.36%)±
|
|
5.69
|
10-25-2047
|
|
4,944,198
|
4,894,801
|
FNMA Series 2017-9 Class EF (30 Day Average U.S. SOFR+0.51%)±
|
|
5.84
|
3-25-2047
|
|
1,548,985
|
1,522,229
|
FNMA Series 2018-1 Class FA (30 Day Average U.S. SOFR+0.36%)±
|
|
5.69
|
2-25-2048
|
|
2,310,081
|
2,256,646
|
FNMA Series 2018-1 Class FB (30 Day Average U.S. SOFR+0.36%)±
|
|
5.69
|
2-25-2048
|
|
6,495,508
|
6,357,036
|
FNMA Series 2019-35 Class FA (30 Day Average U.S. SOFR+0.51%)±
|
|
5.84
|
7-25-2049
|
|
1,188,098
|
1,158,054
|
FNMA Series 2020-37 Class DA
|
|
1.50
|
6-25-2050
|
|
1,722,622
|
1,466,934
|
FNMA Series 2023-38 Class FC (30 Day Average U.S. SOFR+0.66%)±
|
|
5.99
|
6-25-2040
|
|
1,970,136
|
1,951,162
|
FNMA Series 2023-38 Class FD (30 Day Average U.S. SOFR+0.86%)±
|
|
6.19
|
10-25-2039
|
|
3,940,387
|
3,918,721
|
GNMA Series 2016-167 Class AC
|
|
2.25
|
3-20-2039
|
|
2,084,758
|
1,892,018
|
Total agency securities (Cost $148,808,926)
|
|
|
|
|
|
145,792,552
|
Asset-backed securities: 4.94%
|
|
|
|
|
|
|
Hyundai Auto Lease Securitization Trust Series 2023-C Class A4144A
|
|
5.84
|
9-15-2027
|
|
1,079,000
|
1,084,900
|
|
|
Interest
rate
|
Maturity
date
|
Principal
|
Value
|
|
Asset-backed securities(continued)
|
|
|
|
|
|
|
Navient Private Education Refinance Loan Trust Series 2020-GA
Class A144A
|
|
1.17
%
|
9-16-2069
|
$
|
943,576
|
$848,511
|
Nelnet Student Loan Trust Series 2004-4 Class A5 (90 Day Average
U.S. SOFR+0.42%)±
|
|
5.77
|
1-25-2037
|
|
924,083
|
917,464
|
SBNA Auto Receivables Trust Series 2024-A Class A3144A
|
|
5.32
|
12-15-2028
|
|
1,060,000
|
1,055,955
|
SFS Auto Receivables Securitization Trust Series 2024-1A
Class A4144A
|
|
4.94
|
1-21-2031
|
|
1,055,000
|
1,042,321
|
SoFi Professional Loan Program LLC Series 2020-C Class AFX144A
|
|
1.95
|
2-15-2046
|
|
488,956
|
445,012
|
Synchrony Card Funding LLC Series 2024-A1 Class A
|
|
5.04
|
3-15-2030
|
|
1,054,000
|
1,047,043
|
T-Mobile U.S. Trust Series 2024-1A Class A144A
|
|
5.05
|
9-20-2029
|
|
1,048,000
|
1,041,209
|
WF Card Issuance Trust Series 2024-A1 Class A
|
|
4.94
|
2-15-2029
|
|
1,060,000
|
1,055,643
|
World Financial Network Credit Card Master Trust Series 2024-A
Class A
|
|
5.47
|
2-17-2031
|
|
1,026,000
|
1,029,484
|
Total asset-backed securities (Cost $9,734,721)
|
|
|
|
|
|
9,567,542
|
Non-agency mortgage-backed securities: 1.74%
|
|
|
|
|
|
|
Angel Oak Mortgage Trust Series 2020-5 Class A1144A±±
|
|
1.37
|
5-25-2065
|
|
449,903
|
416,681
|
Bunker Hill Loan Depositary Trust Series 2019-2 Class A1144A
|
|
2.88
|
7-25-2049
|
|
374,331
|
353,073
|
BX Commercial Mortgage Trust Series 2021-VOLT Class A (U.S. SOFR
1 Month+0.81%)144A±
|
|
6.13
|
9-15-2036
|
|
1,489,000
|
1,478,816
|
Citigroup Commercial Mortgage Trust Series 2014-GC25 Class AAB
|
|
3.37
|
10-10-2047
|
|
10,686
|
10,668
|
Verus Securitization Trust Series 2019-4 Class A1144A
|
|
3.64
|
11-25-2059
|
|
126,318
|
122,457
|
Verus Securitization Trust Series 2019-INV3 Class A1144A±±
|
|
3.69
|
11-25-2059
|
|
265,005
|
256,874
|
Verus Securitization Trust Series 2021-3 Class A1144A±±
|
|
1.05
|
6-25-2066
|
|
864,321
|
720,537
|
Total non-agency mortgage-backed securities (Cost $3,579,681)
|
|
|
|
|
|
3,359,106
|
U.S. Treasury securities: 11.29%
|
|
|
|
|
|
|
U.S. Treasury Notes
|
|
1.13
|
10-31-2026
|
|
1,156,000
|
1,060,856
|
U.S. Treasury Notes
|
|
4.50
|
5-15-2027
|
|
492,000
|
489,694
|
U.S. Treasury Notes
|
|
4.63
|
2-28-2026
|
|
267,000
|
265,550
|
U.S. Treasury Notes
|
|
4.88
|
11-30-2025
|
|
8,000,000
|
7,981,875
|
U.S. Treasury Notes
|
|
4.88
|
4-30-2026
|
|
11,669,000
|
11,664,898
|
U.S. Treasury Notes
|
|
4.88
|
5-31-2026
|
|
372,000
|
372,058
|
Total U.S. Treasury securities (Cost $21,847,372)
|
|
|
|
|
|
21,834,931
|
|
|
Yield
|
|
Shares
|
|
|
Short-term investments: 7.32%
|
|
|
|
|
|
|
Investment companies: 7.32%
|
|
|
|
|
|
|
Allspring Government Money Market Fund Select Class♠∞
|
|
5.24
|
|
|
14,159,389
|
14,159,389
|
Total short-term investments (Cost $14,159,389)
|
|
|
|
|
|
14,159,389
|
Total investments in securities (Cost $198,130,089)
|
100.65
%
|
|
|
|
|
194,713,520
|
Other assets and liabilities, net
|
(0.65
)
|
|
|
|
|
(1,249,346
)
|
Total net assets
|
100.00
%
|
|
|
|
|
$193,464,174
|
±
|
Variable rate investment. The rate shown is the rate in effect at period end.
|
144A
|
The security may be resold in transactions exempt from registration, normally to qualified
institutional buyers, pursuant to Rule 144A under the Securities Act of
1933.
|
±±
|
The coupon of the security is adjusted based on the principal and/or interest payments
received from the underlying pool of mortgages as well as the credit quality
and the actual prepayment speed of the underlying mortgages. The rate shown is the
rate in effect at period end.
|
♠
|
The issuer of the security is an affiliated person of the Fund as defined in the Investment
Company Act of 1940.
|
∞
|
The rate represents the 7-day annualized yield at period end.
|
Abbreviations:
|
|
FHLMC
|
Federal Home Loan Mortgage Corporation
|
FNMA
|
Federal National Mortgage Association
|
GNMA
|
Government National Mortgage Association
|
RFUCCT1Y
|
Refinitiv USD IBOR Consumer Cash Fallbacks Term 1-year
|
SOFR
|
Secured Overnight Financing Rate
|
|
Value,
beginning of
period
|
Purchases
|
Sales
proceeds
|
Net
realized
gains
(losses)
|
Net
change in
unrealized
gains
(losses)
|
Value,
end of
period
|
Shares,
end
of period
|
Income
from
affiliated
securities
|
Short-term investments
|
|
|
|
|
|
|
|
|
Allspring Government Money Market Fund
Select Class
|
$4,619,516
|
$131,345,083
|
$(121,805,210
)
|
$0
|
$0
|
$14,159,389
|
14,159,389
|
$279,226
|
Description
|
Number of
contracts
|
Expiration
date
|
Notional
cost
|
Notional
value
|
Unrealized
gains
|
Unrealized
losses
|
Long
|
|
|
|
|
|
|
2-Year U.S. Treasury Notes
|
451
|
9-30-2024
|
$91,913,112
|
$91,870,110
|
$0
|
$(43,002
)
|
Short
|
|
|
|
|
|
|
Ultra 10-Year U.S. Treasury Notes
|
(50
)
|
9-19-2024
|
(5,623,615
)
|
(5,601,563
)
|
22,052
|
0
|
5-Year U.S. Treasury Notes
|
(140
)
|
9-30-2024
|
(14,830,417
)
|
(14,811,562
)
|
18,855
|
0
|
|
|
|
|
|
$40,907
|
$(43,002
)
|
|
Quoted prices
(Level 1)
|
Other significant
observable inputs
(Level 2)
|
Significant
unobservable inputs
(Level 3)
|
Total
|
Assets
|
|
|
|
|
Investments in:
|
|
|
|
|
Agency securities
|
$0
|
$145,792,552
|
$0
|
$145,792,552
|
Asset-backed securities
|
0
|
9,567,542
|
0
|
9,567,542
|
Non-agency mortgage-backed securities
|
0
|
3,359,106
|
0
|
3,359,106
|
U.S. Treasury securities
|
21,834,931
|
0
|
0
|
21,834,931
|
Short-term investments
|
|
|
|
|
Investment companies
|
14,159,389
|
0
|
0
|
14,159,389
|
|
35,994,320
|
158,719,200
|
0
|
194,713,520
|
Futures contracts
|
40,907
|
0
|
0
|
40,907
|
Total assets
|
$36,035,227
|
$158,719,200
|
$0
|
$194,754,427
|
Liabilities
|
||||
Futures contracts
|
$43,002
|
$0
|
$0
|
$43,002
|
Total liabilities
|
$43,002
|
$0
|
$0
|
$43,002
|