NPORT-EX 2 NPORT_4252_45271700_0524.htm EDGAR HTML
Portfolio of investments—May 31, 2024 (unaudited)
Portfolio of investments
 
 
 
Interest
rate
Maturity
date
Principal
Value
Agency securities:  90.15%
 
FHLMC±±
6.77
%
6-1-2028
$
13,000
$12,900
FHLMC Multifamily Structured Pass-Through Certificates Series KF46
Class A (30 Day Average U.S. SOFR+0.33%)±
5.66
3-25-2028
 
81,925
81,640
FHLMC Multifamily Structured Pass-Through Certificates Series KF62
Class A (30 Day Average U.S. SOFR+0.59%)±
5.92
4-25-2026
 
1,272,398
1,273,374
FHLMC Multifamily Structured Pass-Through Certificates Series KF85
Class AL (30 Day Average U.S. SOFR+0.41%)±
5.74
8-25-2030
 
137,999
137,317
FHLMC Multifamily Structured Pass-Through Certificates Series Q016
Class APT2±±
1.48
5-25-2051
 
3,621,324
3,221,659
FHLMC STRIPS Series 20 Class F±±
5.06
7-1-2029
 
597
601
FHLMC STRIPS Series 264 Class F1 (30 Day Average
U.S. SOFR+0.66%)±
5.99
7-15-2042
 
511,573
501,697
FHLMC STRIPS Series 319 Class F1 (30 Day Average
U.S. SOFR+0.56%)±
5.89
11-15-2043
 
742,909
723,922
FHLMC Structured Pass-Through Certificates Series T-16 Class A (30
Day Average U.S. SOFR+0.46%)±
5.79
6-25-2029
 
710,084
673,938
FHLMC Structured Pass-Through Certificates Series T-20 Class A7 (30
Day Average U.S. SOFR+0.41%)±
5.74
12-25-2029
 
1,608,476
1,567,212
FHLMC Structured Pass-Through Certificates Series T-21 Class A (30
Day Average U.S. SOFR+0.47%)±
5.80
10-25-2029
 
139,351
139,956
FHLMC Structured Pass-Through Certificates Series T-24 Class A (30
Day Average U.S. SOFR+0.41%)±
5.74
6-25-2030
 
42,639
42,609
FHLMC Structured Pass-Through Certificates Series T-27 Class A (30
Day Average U.S. SOFR+0.41%)±
5.74
10-25-2030
 
515,201
511,339
FHLMC Structured Pass-Through Certificates Series T-30 Class A7 (30
Day Average U.S. SOFR+0.35%)±
5.68
12-25-2030
 
490,417
455,986
FHLMC Structured Pass-Through Certificates Series T-35 Class A (30
Day Average U.S. SOFR+0.39%)±
5.72
9-25-2031
 
876,799
890,524
FHLMC Structured Pass-Through Certificates Series T-48 Class 2A±±
4.16
7-25-2033
 
856,529
782,267
FHLMC Structured Pass-Through Certificates Series T-54 Class 4A±±
4.22
2-25-2043
 
445,308
398,337
FHLMC Structured Pass-Through Certificates Series T-55 Class 1A1
6.50
3-25-2043
 
25,621
25,508
FHLMC Structured Pass-Through Certificates Series T-56 Class 3AF (30
Day Average U.S. SOFR+1.11%)±
6.44
5-25-2043
 
700,016
710,248
FHLMC Structured Pass-Through Certificates Series T-62 Class 1A1 (12
Month Treasury Average+1.20%)±
6.31
10-25-2044
 
1,244,925
1,126,184
FHLMC Structured Pass-Through Certificates Series T-63 Class 1A1 (12
Month Treasury Average+1.20%)±
6.31
2-25-2045
 
1,112,286
1,060,423
FHLMC Structured Pass-Through Certificates Series T-66 Class 2A1±±
5.12
1-25-2036
 
731,170
696,969
FHLMC Structured Pass-Through Certificates Series T-67
Class 1A1C±±
4.20
3-25-2036
 
1,778,204
1,623,741
FHLMC Structured Pass-Through Certificates Series T-67
Class 2A1C±±
4.24
3-25-2036
 
1,742,570
1,609,769
FHLMC (1 Year Treasury Constant Maturity+1.87%)±
5.96
5-1-2035
 
202,657
201,376
FHLMC (1 Year Treasury Constant Maturity+1.93%)±
6.11
8-1-2033
 
209,331
206,970
FHLMC (1 Year Treasury Constant Maturity+1.99%)±
6.11
11-1-2034
 
25,427
25,052
FHLMC (1 Year Treasury Constant Maturity+2.03%)±
4.17
3-1-2025
 
1,868
1,844
FHLMC (1 Year Treasury Constant Maturity+2.06%)±
6.17
12-1-2035
 
120,620
119,778
FHLMC (1 Year Treasury Constant Maturity+2.10%)±
6.30
10-1-2037
 
254,755
256,725
See accompanying notes to portfolio of investments
Allspring Adjustable Rate Government Fund | 1
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
Interest
rate
Maturity
date
Principal
Value
Agency securities(continued)
 
FHLMC (1 Year Treasury Constant Maturity+2.16%)±
6.46
%
6-1-2033
$
231,178
$227,667
FHLMC (1 Year Treasury Constant Maturity+2.17%)±
7.11
5-1-2037
 
18,041
18,138
FHLMC (1 Year Treasury Constant Maturity+2.18%)±
6.35
6-1-2036
 
211,398
215,953
FHLMC (1 Year Treasury Constant Maturity+2.19%)±
6.45
1-1-2037
 
224,304
221,774
FHLMC (1 Year Treasury Constant Maturity+2.22%)±
6.34
12-1-2033
 
109,503
107,999
FHLMC (1 Year Treasury Constant Maturity+2.23%)±
6.23
11-1-2026
 
21,209
21,058
FHLMC (1 Year Treasury Constant Maturity+2.23%)±
6.35
2-1-2034
 
152,508
150,900
FHLMC (1 Year Treasury Constant Maturity+2.23%)±
6.52
5-1-2038
 
178,726
178,372
FHLMC (1 Year Treasury Constant Maturity+2.23%)±
6.82
4-1-2034
 
59,170
58,874
FHLMC (1 Year Treasury Constant Maturity+2.23%)±
7.11
4-1-2034
 
35,909
35,974
FHLMC (1 Year Treasury Constant Maturity+2.24%)±
6.36
4-1-2036
 
79,412
79,219
FHLMC (1 Year Treasury Constant Maturity+2.24%)±
6.54
8-1-2027
 
1,580
1,569
FHLMC (1 Year Treasury Constant Maturity+2.24%)±
7.12
3-1-2027
 
12,770
12,723
FHLMC (1 Year Treasury Constant Maturity+2.25%)±
6.27
9-1-2033
 
35,547
36,602
FHLMC (1 Year Treasury Constant Maturity+2.25%)±
6.36
1-1-2037
 
19,822
20,346
FHLMC (1 Year Treasury Constant Maturity+2.25%)±
6.37
12-1-2034
 
73,345
72,849
FHLMC (1 Year Treasury Constant Maturity+2.25%)±
6.38
4-1-2030
 
1,311
1,296
FHLMC (1 Year Treasury Constant Maturity+2.25%)±
6.38
5-1-2034
 
22,908
23,079
FHLMC (1 Year Treasury Constant Maturity+2.25%)±
6.38
2-1-2036
 
46,986
46,611
FHLMC (1 Year Treasury Constant Maturity+2.25%)±
6.50
7-1-2038
 
4,094,194
4,184,077
FHLMC (1 Year Treasury Constant Maturity+2.25%)±
6.54
2-1-2036
 
1,544,913
1,579,160
FHLMC (1 Year Treasury Constant Maturity+2.25%)±
6.58
4-1-2038
 
247,405
249,271
FHLMC (1 Year Treasury Constant Maturity+2.25%)±
6.59
6-1-2035
 
23,698
24,261
FHLMC (1 Year Treasury Constant Maturity+2.25%)±
6.99
4-1-2034
 
18,595
18,363
FHLMC (1 Year Treasury Constant Maturity+2.25%)±
7.13
5-1-2034
 
91,478
91,736
FHLMC (1 Year Treasury Constant Maturity+2.26%)±
6.46
4-1-2037
 
798,922
820,184
FHLMC (1 Year Treasury Constant Maturity+2.27%)±
6.40
11-1-2029
 
21,638
21,474
FHLMC (1 Year Treasury Constant Maturity+2.27%)±
6.48
9-1-2038
 
1,291,856
1,323,047
FHLMC (1 Year Treasury Constant Maturity+2.27%)±
6.52
9-1-2036
 
3,949,301
4,048,501
FHLMC (1 Year Treasury Constant Maturity+2.28%)±
6.24
7-1-2034
 
70,355
69,496
FHLMC (1 Year Treasury Constant Maturity+2.28%)±
6.28
10-1-2036
 
39,632
39,299
FHLMC (1 Year Treasury Constant Maturity+2.28%)±
6.41
1-1-2035
 
108,038
106,673
FHLMC (1 Year Treasury Constant Maturity+2.29%)±
6.33
11-1-2027
 
68,522
68,067
FHLMC (1 Year Treasury Constant Maturity+2.29%)±
6.88
9-1-2033
 
122,943
122,344
FHLMC (1 Year Treasury Constant Maturity+2.31%)±
6.10
7-1-2027
 
73,649
73,720
FHLMC (1 Year Treasury Constant Maturity+2.34%)±
6.50
4-1-2032
 
452,880
454,544
FHLMC (1 Year Treasury Constant Maturity+2.35%)±
6.35
7-1-2038
 
129,479
129,309
FHLMC (1 Year Treasury Constant Maturity+2.35%)±
6.70
10-1-2033
 
222,234
220,372
FHLMC (1 Year Treasury Constant Maturity+2.36%)±
6.36
1-1-2028
 
1,944
1,933
FHLMC (1 Year Treasury Constant Maturity+2.36%)±
6.47
2-1-2035
 
213,784
210,995
FHLMC (1 Year Treasury Constant Maturity+2.36%)±
6.61
1-1-2028
 
619
615
FHLMC (1 Year Treasury Constant Maturity+2.36%)±
7.23
4-1-2038
 
555,293
559,262
FHLMC (1 Year Treasury Constant Maturity+2.37%)±
4.51
7-1-2031
 
14,717
14,273
FHLMC (1 Year Treasury Constant Maturity+2.38%)±
6.66
2-1-2034
 
951,281
966,316
FHLMC (1 Year Treasury Constant Maturity+2.39%)±
6.80
1-1-2037
 
404,672
416,113
FHLMC (1 Year Treasury Constant Maturity+2.40%)±
6.40
7-1-2031
 
20,823
20,698
FHLMC (1 Year Treasury Constant Maturity+2.40%)±
6.40
9-1-2031
 
24,102
23,967
FHLMC (1 Year Treasury Constant Maturity+2.40%)±
6.45
6-1-2035
 
150,013
151,922
See accompanying notes to portfolio of investments
2 | Allspring Adjustable Rate Government Fund
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
Interest
rate
Maturity
date
Principal
Value
Agency securities(continued)
 
FHLMC (1 Year Treasury Constant Maturity+2.40%)±
7.08
%
11-1-2029
$
17,598
$17,452
FHLMC (1 Year Treasury Constant Maturity+2.40%)±
7.34
7-1-2029
 
9,748
9,765
FHLMC (1 Year Treasury Constant Maturity+2.43%)±
5.43
6-1-2025
 
5,054
5,001
FHLMC (1 Year Treasury Constant Maturity+2.47%)±
6.22
7-1-2034
 
85,669
85,299
FHLMC (1 Year Treasury Constant Maturity+2.47%)±
7.47
6-1-2035
 
109,807
110,230
FHLMC (1 Year Treasury Constant Maturity+2.48%)±
6.60
6-1-2030
 
12,726
12,604
FHLMC (1 Year Treasury Constant Maturity+2.48%)±
6.61
6-1-2030
 
92,619
92,309
FHLMC (1 Year Treasury Constant Maturity+2.48%)±
6.73
2-1-2030
 
16,824
16,860
FHLMC (1 Year Treasury Constant Maturity+2.48%)±
7.35
6-1-2030
 
10,642
10,548
FHLMC (1 Year Treasury Constant Maturity+2.49%)±
6.63
12-1-2032
 
48,453
48,117
FHLMC (1 Year Treasury Constant Maturity+2.52%)±
4.77
11-1-2029
 
29,143
28,191
FHLMC (1 Year Treasury Constant Maturity+2.55%)±
6.67
9-1-2029
 
13,591
13,436
FHLMC (1 Year Treasury Constant Maturity+2.60%)±
7.48
6-1-2032
 
111,523
111,806
FHLMC (1 Year Treasury Constant Maturity+2.61%)±
4.99
9-1-2030
 
20,503
19,724
FHLMC (1 Year Treasury Constant Maturity+2.69%)±
7.06
5-1-2028
 
46,130
45,706
FHLMC (1 Year Treasury Constant Maturity+2.86%)±
7.74
9-1-2030
 
10,101
10,103
FHLMC (11th District COFI+1.25%)±
4.40
1-1-2030
 
1,547
1,498
FHLMC (11th District COFI+1.25%)±
4.40
7-1-2030
 
52,299
50,537
FHLMC (11th District COFI+1.25%)±
4.80
11-1-2030
 
5,793
5,631
FHLMC (11th District COFI+1.28%)±
4.44
2-1-2035
 
6,767
6,701
FHLMC (12 Month Treasury Average+2.12%)±
5.83
5-1-2028
 
24,801
24,564
FHLMC (12 Month Treasury Average+2.45%)±
5.02
10-1-2029
 
39,570
39,351
FHLMC (3 Year Treasury Constant Maturity+2.40%)±
4.88
5-1-2031
 
24,149
23,672
FHLMC (3 Year Treasury Constant Maturity+2.44%)±
5.10
5-1-2032
 
46,801
46,055
FHLMC (3 Year Treasury Constant Maturity+2.84%)±
5.24
6-1-2035
 
133,672
131,369
FHLMC (5 Year Treasury Constant Maturity+2.13%)±
4.00
8-1-2029
 
2,699
2,677
FHLMC (5 Year Treasury Constant Maturity+2.44%)±
3.57
8-1-2027
 
12,271
11,857
FHLMC (RFUCCT1Y+1.51%)±
5.76
2-1-2037
 
39,354
39,129
FHLMC (RFUCCT1Y+1.61%)±
6.17
7-1-2044
 
71,874
73,246
FHLMC (RFUCCT1Y+1.62%)±
2.88
11-1-2047
 
2,028,941
1,966,227
FHLMC (RFUCCT1Y+1.62%)±
6.18
7-1-2045
 
318,642
323,647
FHLMC (RFUCCT1Y+1.64%)±
2.62
6-1-2050
 
2,266,436
2,016,499
FHLMC (RFUCCT1Y+1.67%)±
6.17
8-1-2035
 
103,238
103,025
FHLMC (RFUCCT1Y+1.72%)±
6.19
5-1-2037
 
381,960
390,231
FHLMC (RFUCCT1Y+1.73%)±
5.98
1-1-2035
 
134,667
134,310
FHLMC (RFUCCT1Y+1.74%)±
5.99
12-1-2036
 
104,207
106,877
FHLMC (RFUCCT1Y+1.75%)±
6.88
6-1-2033
 
141,894
141,990
FHLMC (RFUCCT1Y+1.75%)±
6.91
5-1-2033
 
41,497
41,310
FHLMC (RFUCCT1Y+1.75%)±
7.02
4-1-2035
 
64,402
63,877
FHLMC (RFUCCT1Y+1.77%)±
6.02
6-1-2035
 
114,496
113,446
FHLMC (RFUCCT1Y+1.77%)±
6.21
9-1-2037
 
112,825
115,494
FHLMC (RFUCCT1Y+1.77%)±
6.42
9-1-2039
 
526,262
538,908
FHLMC (RFUCCT1Y+1.77%)±
6.47
10-1-2036
 
122,772
125,924
FHLMC (RFUCCT1Y+1.77%)±
6.63
10-1-2035
 
349,560
349,284
FHLMC (RFUCCT1Y+1.77%)±
6.98
8-1-2042
 
86,862
88,929
FHLMC (RFUCCT1Y+1.78%)±
6.03
11-1-2035
 
54,609
54,720
FHLMC (RFUCCT1Y+1.80%)±
6.14
1-1-2040
 
753,023
774,000
FHLMC (RFUCCT1Y+1.80%)±
6.26
10-1-2043
 
1,883,604
1,927,927
See accompanying notes to portfolio of investments
Allspring Adjustable Rate Government Fund | 3
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
Interest
rate
Maturity
date
Principal
Value
Agency securities(continued)
 
FHLMC (RFUCCT1Y+1.80%)±
6.86
%
8-1-2037
$
492,154
$505,250
FHLMC (RFUCCT1Y+1.81%)±
6.19
9-1-2037
 
108,709
111,681
FHLMC (RFUCCT1Y+1.81%)±
6.45
4-1-2035
 
366,580
367,775
FHLMC (RFUCCT1Y+1.81%)±
6.48
5-1-2039
 
166,428
166,293
FHLMC (RFUCCT1Y+1.83%)±
6.27
6-1-2043
 
2,225,226
2,289,747
FHLMC (RFUCCT1Y+1.85%)±
6.23
7-1-2038
 
431,882
441,253
FHLMC (RFUCCT1Y+1.87%)±
6.26
9-1-2036
 
177,037
177,849
FHLMC (RFUCCT1Y+1.87%)±
7.25
5-1-2035
 
9,171
9,065
FHLMC (RFUCCT1Y+1.88%)±
6.63
4-1-2037
 
70,531
70,335
FHLMC (RFUCCT1Y+1.91%)±
6.63
3-1-2032
 
89,123
89,009
FHLMC (RFUCCT1Y+1.93%)±
6.20
4-1-2035
 
435,591
434,456
FHLMC (RFUCCT1Y+1.93%)±
7.30
4-1-2037
 
32,505
32,255
FHLMC (RFUCCT1Y+1.99%)±
6.24
7-1-2036
 
99,925
99,665
FHLMC (RFUCCT1Y+2.06%)±
6.72
3-1-2038
 
421,156
433,275
FHLMC (RFUCCT6M+1.42%)±
5.67
2-1-2037
 
1,317
1,310
FHLMC (RFUCCT6M+1.69%)±
6.31
1-1-2037
 
318,698
323,660
FHLMC (RFUCCT6M+1.83%)±
6.81
6-1-2037
 
118,578
117,056
FHLMC (RFUCCT6M+2.12%)±
6.91
5-1-2037
 
18,372
18,130
FHLMC (RFUCCT6M+2.22%)±
6.96
6-1-2026
 
27,697
27,445
FHLMC (RFUCCT6M+3.83%)±
8.21
11-1-2026
 
4,643
4,600
FHLMC Series 2315 Class FW (30 Day Average U.S. SOFR+0.66%)±
5.99
4-15-2027
 
8,657
8,640
FHLMC Series 2391 Class EF (30 Day Average U.S. SOFR+0.61%)±
5.94
6-15-2031
 
18,549
18,415
FHLMC Series 2454 Class SL (30 Day Average U.S. SOFR+7.89%)ı
2.56
3-15-2032
 
42,650
3,354
FHLMC Series 2461 Class FI (30 Day Average U.S. SOFR+0.61%)±
5.94
4-15-2028
 
17,156
17,104
FHLMC Series 2464 Class FE (30 Day Average U.S. SOFR+1.11%)±
6.44
3-15-2032
 
27,797
27,974
FHLMC Series 2466 Class FV (30 Day Average U.S. SOFR+0.66%)±
5.99
3-15-2032
 
49,494
49,283
FHLMC Series 2538 Class F (30 Day Average U.S. SOFR+0.71%)±
6.04
12-15-2032
 
113,465
113,298
FHLMC Series 3067 Class FA (30 Day Average U.S. SOFR+0.46%)±
5.79
11-15-2035
 
422,842
416,453
FHLMC Series 3114 Class FT (30 Day Average U.S. SOFR+0.46%)±
5.79
9-15-2030
 
120,519
119,945
FHLMC Series 3140 Class GF (30 Day Average U.S. SOFR+0.46%)±
5.79
3-15-2036
 
358,991
353,212
FHLMC Series 3146 Class FP (30 Day Average U.S. SOFR+0.46%)±
5.79
4-15-2036
 
323,632
318,838
FHLMC Series 3149 Class FB (30 Day Average U.S. SOFR+0.46%)±
5.79
5-15-2036
 
525,866
519,542
FHLMC Series 3240 Class FM (30 Day Average U.S. SOFR+0.46%)±
5.79
11-15-2036
 
567,729
558,106
FHLMC Series 3284 Class CF (30 Day Average U.S. SOFR+0.48%)±
5.81
3-15-2037
 
371,602
363,691
FHLMC Series 3286 Class FA (30 Day Average U.S. SOFR+0.51%)±
5.84
3-15-2037
 
47,644
46,382
FHLMC Series 3311 Class KF (30 Day Average U.S. SOFR+0.45%)±
5.78
5-15-2037
 
645,849
632,711
FHLMC Series 3312 Class FN (30 Day Average U.S. SOFR+0.33%)±
5.66
7-15-2036
 
565,991
554,014
FHLMC Series 3436 Class A±±
6.07
11-15-2036
 
196,771
199,214
FHLMC Series 3684 Class FM (30 Day Average U.S. SOFR+0.46%)±
5.79
11-15-2036
 
725,611
710,436
FHLMC Series 3753 Class FA (30 Day Average U.S. SOFR+0.61%)±
5.94
11-15-2040
 
928,694
910,959
FHLMC Series 3757 Class PF (30 Day Average U.S. SOFR+0.61%)±
5.94
8-15-2040
 
195,537
194,560
FHLMC Series 3822 Class FY (30 Day Average U.S. SOFR+0.51%)±
5.84
2-15-2033
 
350,915
348,628
FHLMC Series 3827 Class DF (30 Day Average U.S. SOFR+0.56%)±
5.89
3-15-2041
 
108,735
106,664
FHLMC Series 3925 Class FL (30 Day Average U.S. SOFR+0.56%)±
5.89
1-15-2041
 
28,571
28,468
FHLMC Series 3997 Class FQ (30 Day Average U.S. SOFR+0.61%)±
5.94
2-15-2042
 
400,061
392,092
FHLMC Series 4013 Class QF (30 Day Average U.S. SOFR+0.66%)±
5.99
3-15-2041
 
172,273
171,381
FHLMC Series 4039 Class FA (30 Day Average U.S. SOFR+0.61%)±
5.94
5-15-2042
 
650,577
641,275
FHLMC Series 4136 Class DF (30 Day Average U.S. SOFR+0.41%)±
5.74
11-15-2042
 
404,912
392,131
See accompanying notes to portfolio of investments
4 | Allspring Adjustable Rate Government Fund
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
Interest
rate
Maturity
date
Principal
Value
Agency securities(continued)
 
FHLMC Series 4143 Class KF (30 Day Average U.S. SOFR+0.46%)±
5.79
%
9-15-2037
$
1,008,965
$974,504
FHLMC Series 4248 Class FL (30 Day Average U.S. SOFR+0.56%)±
5.89
5-15-2041
 
153,836
151,644
FHLMC Series 4316 Class JF (30 Day Average U.S. SOFR+0.51%)±
5.84
1-15-2044
 
579,361
567,109
FHLMC Series 4474 Class WF (30 Day Average U.S. SOFR+0.46%)±
5.79
12-15-2036
 
800,640
783,170
FHLMC Series 4477 Class FG (30 Day Average U.S. SOFR+0.41%)±
5.74
10-15-2040
 
816,275
795,912
FHLMC Series 4503 Class FA (30 Day Average U.S. SOFR+0.46%)±
5.79
2-15-2042
 
1,012,316
977,324
FHLMC Series 4515 Class FA (30 Day Average U.S. SOFR+0.48%)±
5.81
8-15-2038
 
137,495
136,545
FHLMC Series 4624 Class FA (30 Day Average U.S. SOFR+0.56%)±
5.89
12-15-2038
 
1,696,866
1,694,954
FHLMC Series 4678 Class AF (30 Day Average U.S. SOFR+0.51%)±
5.84
12-15-2042
 
725,571
719,623
FHLMC Series 4691 Class FA (30 Day Average U.S. SOFR+0.46%)±
5.79
6-15-2047
 
406,043
393,179
FHLMC Series 4707 Class FD (30 Day Average U.S. SOFR+0.46%)±
5.79
9-15-2044
 
2,017,741
2,007,083
FHLMC Series 4754 Class FM (30 Day Average U.S. SOFR+0.41%)±
5.74
2-15-2048
 
1,005,392
971,737
FHLMC Series 4779 Class WF (30 Day Average U.S. SOFR+0.46%)±
5.79
7-15-2044
 
991,960
988,477
FHLMC Series 4821 Class FA (30 Day Average U.S. SOFR+0.41%)±
5.74
7-15-2048
 
292,364
282,157
FHLMC Series 4831 Class FD (30 Day Average U.S. SOFR+0.41%)±
5.74
10-15-2048
 
956,966
924,218
FHLMC Series 4842 Class FA (30 Day Average U.S. SOFR+0.46%)±
5.79
11-15-2048
 
708,072
685,318
FHLMC Series 4906 Class WF (30 Day Average U.S. SOFR+0.51%)±
5.84
12-15-2038
 
1,292,544
1,281,323
FHLMC Series 4908 Class FA (30 Day Average U.S. SOFR+0.55%)±
5.88
12-15-2042
 
1,178,934
1,180,981
FHLMC Series 4915 Class FE (30 Day Average U.S. SOFR+0.51%)±
5.84
2-15-2038
 
3,054,415
3,039,445
FHLMC Series 4921 Class FN (30 Day Average U.S. SOFR+0.56%)±
5.89
10-25-2049
 
832,348
810,442
FHLMC Series 4925 Class WF (30 Day Average U.S. SOFR+0.51%)±
5.84
8-15-2038
 
2,728,147
2,689,621
FHLMC Series 4925 Class FY (30 Day Average U.S. SOFR+0.56%)±
5.89
10-25-2049
 
287,275
278,818
FHLMC Series 4933 Class FA (30 Day Average U.S. SOFR+0.61%)±
5.94
12-25-2049
 
875,930
854,255
FNMA±±
4.49
8-1-2026
 
503
500
FNMA±±
5.15
2-1-2033
 
81,866
81,178
FNMA
6.50
5-1-2031
 
18,908
19,276
FNMA
7.06
1-1-2027
 
3,443
3,537
FNMA
7.50
1-1-2031
 
10,856
10,832
FNMA
7.50
1-1-2033
 
25,670
25,620
FNMA
7.50
5-1-2033
 
52,067
51,956
FNMA
7.50
8-1-2033
 
31,091
31,021
FNMA
8.00
12-1-2026
 
10,535
10,523
FNMA
8.00
3-1-2030
 
5
5
FNMA
8.00
5-1-2033
 
26,538
26,417
FNMA (1 Year Treasury Constant Maturity+1.50%)±
5.75
8-1-2030
 
139,367
138,892
FNMA (1 Year Treasury Constant Maturity+1.52%)±
5.52
8-1-2033
 
309,165
308,298
FNMA (1 Year Treasury Constant Maturity+1.58%)±
5.87
3-1-2034
 
156,217
154,751
FNMA (1 Year Treasury Constant Maturity+1.63%)±
6.63
11-1-2029
 
3,333
3,294
FNMA (1 Year Treasury Constant Maturity+1.66%)±
5.69
7-1-2048
 
294,205
296,813
FNMA (1 Year Treasury Constant Maturity+1.70%)±
5.82
2-1-2033
 
103,507
102,774
FNMA (1 Year Treasury Constant Maturity+1.76%)±
5.51
8-1-2032
 
24,901
24,875
FNMA (1 Year Treasury Constant Maturity+1.85%)±
5.88
7-1-2038
 
246,792
244,824
FNMA (1 Year Treasury Constant Maturity+1.88%)±
5.63
8-1-2031
 
21,803
21,784
FNMA (1 Year Treasury Constant Maturity+1.96%)±
6.96
3-1-2032
 
11,085
11,121
FNMA (1 Year Treasury Constant Maturity+2.03%)±
6.42
12-1-2032
 
120,422
119,950
FNMA (1 Year Treasury Constant Maturity+2.07%)±
6.35
12-1-2033
 
100,599
100,194
FNMA (1 Year Treasury Constant Maturity+2.09%)±
6.23
4-1-2040
 
41,181
42,027
FNMA (1 Year Treasury Constant Maturity+2.10%)±
6.17
9-1-2036
 
105,240
104,885
See accompanying notes to portfolio of investments
Allspring Adjustable Rate Government Fund | 5
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
Interest
rate
Maturity
date
Principal
Value
Agency securities(continued)
 
FNMA (1 Year Treasury Constant Maturity+2.10%)±
6.97
%
7-1-2035
$
33,061
$32,980
FNMA (1 Year Treasury Constant Maturity+2.11%)±
6.01
7-1-2035
 
67,365
67,506
FNMA (1 Year Treasury Constant Maturity+2.12%)±
7.00
3-1-2031
 
9,950
9,938
FNMA (1 Year Treasury Constant Maturity+2.15%)±
6.15
2-1-2033
 
26,464
26,497
FNMA (1 Year Treasury Constant Maturity+2.16%)±
6.43
5-1-2036
 
438,135
442,679
FNMA (1 Year Treasury Constant Maturity+2.17%)±
5.95
9-1-2030
 
11,173
11,156
FNMA (1 Year Treasury Constant Maturity+2.17%)±
6.29
12-1-2039
 
69,067
68,872
FNMA (1 Year Treasury Constant Maturity+2.18%)±
6.21
1-1-2036
 
56,745
56,583
FNMA (1 Year Treasury Constant Maturity+2.18%)±
6.22
9-1-2035
 
283,148
291,745
FNMA (1 Year Treasury Constant Maturity+2.18%)±
6.30
12-1-2024
 
2,500
2,489
FNMA (1 Year Treasury Constant Maturity+2.18%)±
6.39
1-1-2036
 
191,191
190,649
FNMA (1 Year Treasury Constant Maturity+2.18%)±
6.49
6-1-2035
 
42,193
42,273
FNMA (1 Year Treasury Constant Maturity+2.18%)±
6.66
6-1-2027
 
18,634
18,597
FNMA (1 Year Treasury Constant Maturity+2.19%)±
6.19
8-1-2033
 
185,667
185,243
FNMA (1 Year Treasury Constant Maturity+2.19%)±
6.38
9-1-2033
 
74,976
74,638
FNMA (1 Year Treasury Constant Maturity+2.19%)±
6.40
12-1-2040
 
1,091,059
1,118,359
FNMA (1 Year Treasury Constant Maturity+2.19%)±
6.44
3-1-2035
 
142,213
141,328
FNMA (1 Year Treasury Constant Maturity+2.20%)±
6.51
12-1-2040
 
1,991,623
2,041,056
FNMA (1 Year Treasury Constant Maturity+2.20%)±
6.57
5-1-2034
 
180,577
178,703
FNMA (1 Year Treasury Constant Maturity+2.21%)±
6.44
8-1-2035
 
182,130
184,144
FNMA (1 Year Treasury Constant Maturity+2.21%)±
6.49
10-1-2034
 
405,227
415,689
FNMA (1 Year Treasury Constant Maturity+2.21%)±
6.50
1-1-2033
 
50,655
50,632
FNMA (1 Year Treasury Constant Maturity+2.21%)±
6.92
5-1-2037
 
264,994
264,434
FNMA (1 Year Treasury Constant Maturity+2.22%)±
4.71
7-1-2029
 
79,118
77,211
FNMA (1 Year Treasury Constant Maturity+2.22%)±
5.97
7-1-2035
 
9,118
9,129
FNMA (1 Year Treasury Constant Maturity+2.22%)±
6.16
7-1-2035
 
161,867
163,919
FNMA (1 Year Treasury Constant Maturity+2.22%)±
6.35
8-1-2031
 
64,363
63,638
FNMA (1 Year Treasury Constant Maturity+2.22%)±
6.35
10-1-2034
 
82,544
82,014
FNMA (1 Year Treasury Constant Maturity+2.22%)±
6.40
12-1-2040
 
866,482
888,286
FNMA (1 Year Treasury Constant Maturity+2.22%)±
6.51
9-1-2035
 
502,075
509,417
FNMA (1 Year Treasury Constant Maturity+2.22%)±
7.22
6-1-2035
 
120,766
121,903
FNMA (1 Year Treasury Constant Maturity+2.23%)±
6.46
7-1-2038
 
1,093,966
1,124,752
FNMA (1 Year Treasury Constant Maturity+2.23%)±
6.51
7-1-2037
 
82,036
84,576
FNMA (1 Year Treasury Constant Maturity+2.24%)±
6.47
11-1-2038
 
1,199,818
1,234,915
FNMA (1 Year Treasury Constant Maturity+2.24%)±
6.51
1-1-2037
 
193,670
193,751
FNMA (1 Year Treasury Constant Maturity+2.24%)±
6.51
4-1-2038
 
209,847
209,686
FNMA (1 Year Treasury Constant Maturity+2.24%)±
6.62
7-1-2028
 
30
30
FNMA (1 Year Treasury Constant Maturity+2.25%)±
6.47
10-1-2036
 
153,966
158,200
FNMA (1 Year Treasury Constant Maturity+2.28%)±
6.28
9-1-2026
 
6,434
6,407
FNMA (1 Year Treasury Constant Maturity+2.29%)±
6.29
12-1-2030
 
12,254
12,250
FNMA (1 Year Treasury Constant Maturity+2.29%)±
6.45
1-1-2031
 
22,046
21,879
FNMA (1 Year Treasury Constant Maturity+2.29%)±
6.46
6-1-2037
 
521,442
533,899
FNMA (1 Year Treasury Constant Maturity+2.29%)±
6.67
7-1-2030
 
43,232
43,063
FNMA (1 Year Treasury Constant Maturity+2.30%)±
7.17
1-1-2026
 
8,510
8,479
FNMA (1 Year Treasury Constant Maturity+2.31%)±
6.24
5-1-2033
 
94,345
93,927
FNMA (1 Year Treasury Constant Maturity+2.31%)±
6.49
12-1-2034
 
58,156
58,251
FNMA (1 Year Treasury Constant Maturity+2.31%)±
6.52
12-1-2030
 
111,882
111,604
FNMA (1 Year Treasury Constant Maturity+2.32%)±
6.44
5-1-2025
 
2,328
2,320
See accompanying notes to portfolio of investments
6 | Allspring Adjustable Rate Government Fund
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
Interest
rate
Maturity
date
Principal
Value
Agency securities(continued)
 
FNMA (1 Year Treasury Constant Maturity+2.32%)±
6.57
%
4-1-2028
$
17,401
$17,262
FNMA (1 Year Treasury Constant Maturity+2.33%)±
6.33
11-1-2024
 
734
731
FNMA (1 Year Treasury Constant Maturity+2.35%)±
6.81
9-1-2037
 
26,188
26,146
FNMA (1 Year Treasury Constant Maturity+2.35%)±
7.23
6-1-2027
 
12,650
12,614
FNMA (1 Year Treasury Constant Maturity+2.36%)±
6.41
11-1-2034
 
96,667
99,492
FNMA (1 Year Treasury Constant Maturity+2.36%)±
6.48
5-1-2034
 
46,725
46,593
FNMA (1 Year Treasury Constant Maturity+2.37%)±
4.51
9-1-2030
 
167,175
161,748
FNMA (1 Year Treasury Constant Maturity+2.37%)±
6.50
7-1-2027
 
6,166
6,124
FNMA (1 Year Treasury Constant Maturity+2.38%)±
6.38
7-1-2027
 
27,061
26,987
FNMA (1 Year Treasury Constant Maturity+2.40%)±
6.53
9-1-2033
 
211,116
210,604
FNMA (1 Year Treasury Constant Maturity+2.41%)±
7.18
5-1-2027
 
15,775
15,702
FNMA (1 Year Treasury Constant Maturity+2.44%)±
6.97
7-1-2037
 
638,109
650,183
FNMA (1 Year Treasury Constant Maturity+2.46%)±
6.79
5-1-2033
 
22,504
22,418
FNMA (1 Year Treasury Constant Maturity+2.47%)±
6.47
9-1-2028
 
18,716
18,658
FNMA (1 Year Treasury Constant Maturity+2.48%)±
6.55
7-1-2028
 
40,174
39,935
FNMA (1 Year Treasury Constant Maturity+2.49%)±
6.61
5-1-2035
 
268,987
273,193
FNMA (1 Year Treasury Constant Maturity+2.49%)±
6.74
4-1-2038
 
128,657
127,448
FNMA (1 Year Treasury Constant Maturity+2.49%)±
7.49
7-1-2037
 
69,148
69,723
FNMA (1 Year Treasury Constant Maturity+2.50%)±
4.86
9-1-2030
 
94,618
91,952
FNMA (1 Year Treasury Constant Maturity+2.50%)±
6.63
6-1-2032
 
56,715
56,271
FNMA (1 Year Treasury Constant Maturity+2.50%)±
7.37
10-1-2029
 
74,632
74,525
FNMA (1 Year Treasury Constant Maturity+2.50%)±
7.38
3-1-2027
 
6,057
6,036
FNMA (1 Year Treasury Constant Maturity+2.52%)±
6.64
11-1-2024
 
2,005
1,996
FNMA (1 Year Treasury Constant Maturity+2.60%)±
6.72
10-1-2025
 
1,493
1,486
FNMA (1 Year Treasury Constant Maturity+2.64%)±
6.77
10-1-2028
 
10,123
10,021
FNMA (1 Year Treasury Constant Maturity+2.64%)±
7.13
7-1-2028
 
20,099
20,056
FNMA (1 Year Treasury Constant Maturity+2.64%)±
7.52
3-1-2030
 
2,436
2,426
FNMA (1 Year Treasury Constant Maturity+2.70%)±
7.52
5-1-2035
 
428,516
429,085
FNMA (1 Year Treasury Constant Maturity+2.72%)±
7.10
8-1-2035
 
86,245
85,986
FNMA (1 Year Treasury Constant Maturity+2.89%)±
6.70
9-1-2030
 
60,306
60,178
FNMA (1 Year Treasury Constant Maturity+3.03%)±
7.16
1-1-2029
 
12,360
12,351
FNMA (11th District COFI+1.25%)±
4.43
4-1-2034
 
64,976
62,265
FNMA (11th District COFI+1.26%)±
4.44
1-1-2035
 
73,793
70,928
FNMA (11th District COFI+1.27%)±
4.42
3-1-2033
 
29,856
28,972
FNMA (11th District COFI+1.27%)±
5.20
1-1-2038
 
2,260
2,220
FNMA (11th District COFI+1.29%)±
4.50
9-1-2037
 
571,715
552,059
FNMA (11th District COFI+1.69%)±
4.85
1-1-2036
 
70,117
68,104
FNMA (11th District COFI+1.70%)±
4.86
4-1-2030
 
233
229
FNMA (11th District COFI+1.81%)±
4.98
6-1-2034
 
25,237
24,859
FNMA (11th District COFI+1.82%)±
4.16
5-1-2028
 
11,135
10,961
FNMA (11th District COFI+1.85%)±
4.98
10-1-2027
 
24,931
24,710
FNMA (11th District COFI+1.90%)±
6.45
5-1-2034
 
15,675
15,797
FNMA (11th District COFI+1.92%)±
5.01
9-1-2030
 
91,679
90,171
FNMA (11th District COFI+1.92%)±
5.07
3-1-2033
 
98,859
96,826
FNMA (11th District COFI+1.93%)±
5.15
12-1-2036
 
6,939
6,859
FNMA (12 Month Treasury Average+1.21%)±
6.32
4-1-2042
 
501,524
495,546
FNMA (12 Month Treasury Average+1.73%)±
6.83
6-1-2035
 
167,693
169,757
FNMA (12 Month Treasury Average+1.75%)±
6.85
10-1-2035
 
251,516
252,504
See accompanying notes to portfolio of investments
Allspring Adjustable Rate Government Fund | 7
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
Interest
rate
Maturity
date
Principal
Value
Agency securities(continued)
 
FNMA (12 Month Treasury Average+1.77%)±
6.93
%
7-1-2035
$
209,197
$211,359
FNMA (12 Month Treasury Average+1.85%)±
7.00
11-1-2035
 
28,589
28,882
FNMA (12 Month Treasury Average+1.86%)±
7.00
11-1-2035
 
216,228
217,334
FNMA (12 Month Treasury Average+1.89%)±
7.04
11-1-2035
 
9,907
10,081
FNMA (12 Month Treasury Average+1.95%)±
7.06
7-1-2035
 
118,445
119,433
FNMA (12 Month Treasury Average+1.96%)±
7.10
11-1-2035
 
210,981
211,693
FNMA (12 Month Treasury Average+2.06%)±
7.21
10-1-2035
 
86,551
88,500
FNMA (12 Month Treasury Average+2.08%)±
7.20
1-1-2035
 
196,748
198,985
FNMA (12 Month Treasury Average+2.11%)±
7.29
8-1-2035
 
82,137
82,823
FNMA (12 Month Treasury Average+2.36%)±
7.47
8-1-2040
 
238,085
240,541
FNMA (12 Month Treasury Average+2.48%)±
5.86
6-1-2040
 
326,493
328,310
FNMA (3 Year Treasury Constant Maturity+2.15%)±
2.90
8-1-2031
 
18,065
17,785
FNMA (5 Year Treasury Constant Maturity+1.90%)±
3.49
9-1-2031
 
75,722
73,540
FNMA (5 Year Treasury Constant Maturity+2.43%)±
4.94
6-1-2028
 
7,375
7,386
FNMA (Federal COFI+2.00%)±
5.88
8-1-2029
 
15,102
15,093
FNMA (Federal COFI+2.46%)±
5.88
2-1-2029
 
128,724
128,281
FNMA (RFUCCT1M+1.17%)±
6.55
5-1-2029
 
22,994
23,113
FNMA (RFUCCT1Y+1.53%)±
5.78
9-1-2035
 
206,534
210,921
FNMA (RFUCCT1Y+1.53%)±
5.78
9-1-2036
 
157,647
156,495
FNMA (RFUCCT1Y+1.55%)±
6.39
1-1-2040
 
38,891
38,688
FNMA (RFUCCT1Y+1.56%)±
5.98
2-1-2044
 
27,981
28,508
FNMA (RFUCCT1Y+1.57%)±
5.82
11-1-2044
 
61,349
61,463
FNMA (RFUCCT1Y+1.58%)±
6.27
6-1-2043
 
1,844,514
1,867,078
FNMA (RFUCCT1Y+1.58%)±
6.47
9-1-2044
 
452,081
460,438
FNMA (RFUCCT1Y+1.59%)±
6.29
8-1-2045
 
203,665
207,522
FNMA (RFUCCT1Y+1.59%)±
7.06
2-1-2043
 
184,434
185,983
FNMA (RFUCCT1Y+1.59%)±
7.34
6-1-2044
 
334,319
341,651
FNMA (RFUCCT1Y+1.60%)±
2.23
8-1-2050
 
1,906,656
1,677,156
FNMA (RFUCCT1Y+1.60%)±
5.85
9-1-2037
 
321,745
320,081
FNMA (RFUCCT1Y+1.60%)±
6.13
3-1-2046
 
536,329
546,907
FNMA (RFUCCT1Y+1.62%)±
2.39
8-1-2050
 
2,361,694
2,092,466
FNMA (RFUCCT1Y+1.62%)±
2.52
4-1-2050
 
1,137,767
1,059,891
FNMA (RFUCCT1Y+1.64%)±
6.24
11-1-2038
 
76,549
76,698
FNMA (RFUCCT1Y+1.64%)±
7.21
9-1-2042
 
68,983
69,487
FNMA (RFUCCT1Y+1.67%)±
6.16
6-1-2041
 
563,307
576,936
FNMA (RFUCCT1Y+1.67%)±
6.19
7-1-2035
 
197,099
201,996
FNMA (RFUCCT1Y+1.67%)±
6.61
6-1-2036
 
24,913
25,049
FNMA (RFUCCT1Y+1.70%)±
6.29
4-1-2034
 
150,960
154,091
FNMA (RFUCCT1Y+1.72%)±
6.62
6-1-2035
 
29,112
29,866
FNMA (RFUCCT1Y+1.73%)±
6.08
7-1-2043
 
903,780
928,720
FNMA (RFUCCT1Y+1.73%)±
6.47
2-1-2045
 
597,500
606,888
FNMA (RFUCCT1Y+1.73%)±
6.50
9-1-2042
 
100,068
102,718
FNMA (RFUCCT1Y+1.75%)±
6.00
1-1-2035
 
145,978
146,836
FNMA (RFUCCT1Y+1.75%)±
6.49
7-1-2035
 
172,396
174,058
FNMA (RFUCCT1Y+1.75%)±
6.53
4-1-2033
 
232,721
232,175
FNMA (RFUCCT1Y+1.75%)±
6.67
4-1-2034
 
65,961
65,287
FNMA (RFUCCT1Y+1.75%)±
6.79
5-1-2035
 
162,297
161,056
FNMA (RFUCCT1Y+1.77%)±
6.24
7-1-2044
 
1,122,797
1,151,328
See accompanying notes to portfolio of investments
8 | Allspring Adjustable Rate Government Fund
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
Interest
rate
Maturity
date
Principal
Value
Agency securities(continued)
 
FNMA (RFUCCT1Y+1.79%)±
6.13
%
1-1-2042
$
845,845
$870,454
FNMA (RFUCCT1Y+1.83%)±
6.08
1-1-2033
 
36,429
36,259
FNMA (RFUCCT1Y+1.90%)±
6.15
10-1-2034
 
202,995
201,659
FNMA (RFUCCT1Y+1.91%)±
6.98
5-1-2038
 
220,149
228,166
FNMA (RFUCCT1Y+1.93%)±
7.68
5-1-2037
 
369,534
369,732
FNMA (RFUCCT1Y+2.02%)±
6.27
9-1-2035
 
135,312
138,914
FNMA (RFUCCT6M+1.16%)±
5.50
8-1-2033
 
2,348
2,327
FNMA (RFUCCT6M+1.18%)±
6.68
8-1-2033
 
29,089
29,055
FNMA (RFUCCT6M+1.31%)±
5.82
10-1-2037
 
262,398
264,866
FNMA (RFUCCT6M+1.38%)±
7.00
8-1-2031
 
79,331
79,328
FNMA (RFUCCT6M+1.38%)±
7.13
12-1-2031
 
11,768
11,734
FNMA (RFUCCT6M+1.39%)±
7.14
1-1-2032
 
43,606
43,540
FNMA (RFUCCT6M+1.42%)±
7.04
12-1-2031
 
91,302
91,662
FNMA (RFUCCT6M+1.51%)±
6.35
11-1-2034
 
242,942
241,426
FNMA (RFUCCT6M+1.55%)±
7.17
3-1-2034
 
52,852
52,907
FNMA (RFUCCT6M+1.55%)±
7.34
1-1-2035
 
270,490
273,660
FNMA (RFUCCT6M+1.62%)±
7.44
6-1-2037
 
261,045
264,227
FNMA (RFUCCT6M+1.74%)±
6.49
10-1-2024
 
2,912
2,897
FNMA (RFUCCT6M+1.74%)±
6.87
12-1-2024
 
1,672
1,664
FNMA (RFUCCT6M+1.93%)±
7.05
6-1-2032
 
45,303
45,222
FNMA (RFUCCT6M+1.96%)±
6.28
1-1-2033
 
41,733
41,400
FNMA (RFUCCT6M+1.98%)±
6.23
9-1-2033
 
38,440
38,058
FNMA (RFUCCT6M+2.25%)±
6.54
3-1-2034
 
331,676
331,658
FNMA (RFUCCT6M+2.31%)±
7.06
4-1-2033
 
131,910
130,950
FNMA (RFUCCT6M+2.35%)±
7.00
5-1-2033
 
390,223
393,160
FNMA (RFUCCT6M+2.48%)±
6.73
7-1-2033
 
22,549
22,376
FNMA (RFUCCT6M+2.51%)±
6.93
4-1-2033
 
118,563
118,691
FNMA (RFUCCT6M+3.36%)±
8.07
12-1-2032
 
71,574
71,063
FNMA Series 2001-50 Class BA
7.00
10-25-2041
 
39,939
40,090
FNMA Series 2001-63 Class FD (30 Day Average U.S. SOFR+0.71%)±
6.04
12-18-2031
 
27,810
27,777
FNMA Series 2001-81 Class F (30 Day Average U.S. SOFR+0.66%)±
5.99
1-25-2032
 
15,936
15,833
FNMA Series 2001-T10 Class A2
7.50
12-25-2041
 
759,351
759,247
FNMA Series 2001-T12 Class A4±±
4.80
8-25-2041
 
1,372,190
1,367,310
FNMA Series 2001-T12 Class A2
7.50
8-25-2041
 
60,725
60,998
FNMA Series 2001-T8 Class A1
7.50
7-25-2041
 
45,936
46,011
FNMA Series 2001-W1 Class AV1 (30 Day Average
U.S. SOFR+0.23%)±
5.68
8-25-2031
 
14,834
14,192
FNMA Series 2001-W3 Class A±±
7.00
9-25-2041
 
171,625
168,580
FNMA Series 2002-5 Class FD (30 Day Average U.S. SOFR+1.01%)±
6.34
2-25-2032
 
19,536
19,573
FNMA Series 2002-59 Class F (30 Day Average U.S. SOFR+0.51%)±
5.84
9-25-2032
 
43,194
43,006
FNMA Series 2002-66 Class A3±±
4.33
4-25-2042
 
3,112,352
3,080,534
FNMA Series 2002-T12 Class A5±±
5.07
10-25-2041
 
746,916
742,529
FNMA Series 2002-T12 Class A3
7.50
5-25-2042
 
655,851
676,177
FNMA Series 2002-T18 Class A5±±
4.74
5-25-2042
 
1,490,788
1,470,133
FNMA Series 2002-T19 Class A4±±
4.93
3-25-2042
 
87,951
84,539
FNMA Series 2002-W1 Class 3A±±
3.68
4-25-2042
 
350,932
324,311
FNMA Series 2002-W4 Class A6±±
4.64
5-25-2042
 
629,993
606,304
FNMA Series 2003-63 Class A8±±
4.11
1-25-2043
 
489,590
482,426
See accompanying notes to portfolio of investments
Allspring Adjustable Rate Government Fund | 9
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
Interest
rate
Maturity
date
Principal
Value
Agency securities(continued)
 
FNMA Series 2003-7 Class A2±±
4.52
%
5-25-2042
$
257,950
$255,150
FNMA Series 2003-T2 Class A1 (30 Day Average U.S. SOFR+0.39%)±
5.72
3-25-2033
 
543,324
533,315
FNMA Series 2003-W10 Class 2A±±
3.88
6-25-2043
 
968,166
932,104
FNMA Series 2003-W18 Class 2A±±
4.58
6-25-2043
 
1,094,827
1,059,101
FNMA Series 2003-W2 Class 1A3
7.50
7-25-2042
 
160,043
164,312
FNMA Series 2003-W4 Class 5A±±
4.12
10-25-2042
 
338,494
323,633
FNMA Series 2003-W6 Class 6A±±
4.37
8-25-2042
 
385,870
370,615
FNMA Series 2003-W8 Class 4A±±
4.55
11-25-2042
 
487,140
464,478
FNMA Series 2003-W9 Class A (30 Day Average U.S. SOFR+0.23%)±
5.24
6-25-2033
 
755,177
721,633
FNMA Series 2004-17 Class FT (30 Day Average U.S. SOFR+0.51%)±
5.84
4-25-2034
 
320,043
317,414
FNMA Series 2004-T1 Class 2A±±
3.87
8-25-2043
 
620,971
572,676
FNMA Series 2004-T3 Class 2A±±
4.56
8-25-2043
 
471,740
464,312
FNMA Series 2004-T3 Class 1A3
7.00
2-25-2044
 
212,794
216,555
FNMA Series 2004-W1 Class 3A±±
4.76
1-25-2043
 
28,098
25,294
FNMA Series 2004-W1 Class 2A2
7.00
12-25-2033
 
98,691
101,072
FNMA Series 2004-W12 Class 2A±±
4.42
6-25-2044
 
1,394,584
1,325,596
FNMA Series 2004-W15 Class 3A±±
4.56
6-25-2044
 
1,967,289
1,902,531
FNMA Series 2004-W2 Class 5A
7.50
3-25-2044
 
28,452
29,027
FNMA Series 2005-25 Class PF (30 Day Average U.S. SOFR+0.46%)±
5.79
4-25-2035
 
436,505
429,734
FNMA Series 2005-W3 Class 3A±±
4.42
4-25-2045
 
407,494
387,017
FNMA Series 2006-112 Class LF (30 Day Average U.S. SOFR+0.66%)±
5.99
11-25-2036
 
824,313
812,089
FNMA Series 2006-16 Class FA (30 Day Average U.S. SOFR+0.41%)±
5.74
3-25-2036
 
278,382
274,395
FNMA Series 2006-44 Class FY (30 Day Average U.S. SOFR+0.68%)±
6.01
6-25-2036
 
563,150
560,172
FNMA Series 2006-5 Class 1A±±
6.77
8-25-2034
 
1,407,019
1,446,748
FNMA Series 2006-W1 Class 3A±±
4.39
10-25-2045
 
1,202,770
1,175,099
FNMA Series 2007-109 Class PF (30 Day Average U.S. SOFR+0.76%)±
6.09
12-25-2037
 
233,757
231,455
FNMA Series 2007-4 Class DF (30 Day Average U.S. SOFR+0.56%)±
5.88
2-25-2037
 
472,253
463,052
FNMA Series 2007-86 Class FA (30 Day Average U.S. SOFR+0.56%)±
5.89
9-25-2037
 
770,715
762,967
FNMA Series 2007-95 Class A2 (30 Day Average U.S. SOFR+0.36%)±
5.24
8-27-2036
 
71,585
70,379
FNMA Series 2008-67 Class FG (30 Day Average U.S. SOFR+1.11%)±
6.44
7-25-2038
 
451,533
455,560
FNMA Series 2009-106 Class FA (30 Day Average U.S. SOFR+0.86%)±
6.19
1-25-2040
 
625,222
625,333
FNMA Series 2009-11 Class FU (30 Day Average U.S. SOFR+1.11%)±
6.44
3-25-2049
 
42,710
42,747
FNMA Series 2010-54 Class AF (30 Day Average U.S. SOFR+0.67%)±
6.00
4-25-2037
 
174,598
173,045
FNMA Series 2011-121 Class PF (30 Day Average U.S. SOFR+0.46%)±
5.79
12-25-2041
 
175,534
171,664
FNMA Series 2012-122 Class FM (30 Day Average U.S. SOFR+0.51%)±
5.84
11-25-2042
 
773,409
753,877
FNMA Series 2012-47 Class FW (30 Day Average U.S. SOFR+1.81%)±
7.14
5-25-2027
 
38,153
38,531
FNMA Series 2013-130 Class CF (30 Day Average U.S. SOFR+0.36%)±
5.69
6-25-2043
 
246,853
243,471
FNMA Series 2013-23 Class LF (30 Day Average U.S. SOFR+0.46%)±
5.79
3-25-2043
 
2,184,702
2,202,988
FNMA Series 2014-10 Class CF (30 Day Average U.S. SOFR+0.41%)±
5.74
3-25-2044
 
478,323
464,957
FNMA Series 2014-49 Class AF (30 Day Average U.S. SOFR+0.43%)±
5.76
8-25-2044
 
90,913
88,010
FNMA Series 2015-38 Class DF (30 Day Average U.S. SOFR+0.42%)±
5.75
6-25-2055
 
1,100,662
1,079,767
FNMA Series 2015-4 Class FA (30 Day Average U.S. SOFR+0.46%)±
5.79
2-25-2045
 
664,703
643,909
FNMA Series 2016-58 Class FA (30 Day Average U.S. SOFR+0.59%)±
5.92
8-25-2046
 
361,639
356,845
FNMA Series 2016-62 Class AF (30 Day Average U.S. SOFR+0.56%)±
5.89
9-25-2046
 
429,353
423,849
FNMA Series 2016-64 Class KF (30 Day Average U.S. SOFR+0.58%)±
5.91
9-25-2046
 
850,260
826,620
FNMA Series 2016-76 Class CF (30 Day Average U.S. SOFR+0.56%)±
5.89
10-25-2046
 
524,338
510,746
FNMA Series 2016-82 Class FM (30 Day Average U.S. SOFR+0.51%)±
5.84
11-25-2046
 
1,082,780
1,051,219
FNMA Series 2016-87 Class AF (30 Day Average U.S. SOFR+0.51%)±
5.84
11-25-2046
 
209,455
206,192
See accompanying notes to portfolio of investments
10 | Allspring Adjustable Rate Government Fund
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
Interest
rate
Maturity
date
Principal
Value
Agency securities(continued)
 
FNMA Series 2018-47 Class PC
3.50
%
9-25-2047
$
120,950
$114,709
FNMA Series 2019-25 Class FA (30 Day Average U.S. SOFR+0.56%)±
5.89
6-25-2049
 
223,101
217,211
FNMA Series 2019-5 Class FE (30 Day Average U.S. SOFR+0.56%)±
5.89
3-25-2049
 
328,597
320,435
FNMA Series 2019-53 Class FA (30 Day Average U.S. SOFR+0.51%)±
5.84
9-25-2049
 
1,125,156
1,090,579
FNMA Series 2020-10 Class Q
3.00
3-25-2050
 
2,558,145
2,112,129
FNMA Series 2020-29 Class FA (30 Day Average U.S. SOFR+0.76%)±
6.09
5-25-2050
 
672,175
658,055
FNMA Series 2021-85 Class EF (30 Day Average U.S. SOFR+0.18%)±
5.51
12-25-2051
 
2,655,505
2,619,617
GNMA
6.45
4-20-2025
 
3,340
3,340
GNMA
6.50
8-20-2034
 
104,562
101,745
GNMA
9.00
1-20-2025
 
59
59
GNMA
9.00
2-20-2025
 
121
121
GNMA (1 Year Treasury Constant Maturity+1.40%)±
6.41
6-20-2058
 
4,928
4,948
GNMA (1 Year Treasury Constant Maturity+1.50%)±
4.63
1-20-2034
 
646,546
640,991
GNMA (1 Year Treasury Constant Maturity+2.00%)±
4.38
4-20-2041
 
24,532
24,366
GNMA (1 Year Treasury Constant Maturity+2.00%)±
7.00
1-20-2041
 
16,083
16,260
GNMA (RFUCCT1M+0.61%)±
6.04
5-20-2058
 
64,575
64,506
GNMA Series 2004-80 Class FA (U.S. SOFR 1 Month+0.51%)±
5.83
10-20-2034
 
299,503
298,197
GNMA Series 2006-16 Class DF (U.S. SOFR 1 Month+0.22%)±
5.54
4-20-2036
 
1,563,915
1,546,391
GNMA Series 2008-65 Class FG (U.S. SOFR 1 Month+0.86%)±
6.18
8-20-2038
 
540,708
542,065
GNMA Series 2008-68 Class FA (U.S. SOFR 1 Month+1.06%)±
6.38
8-20-2038
 
672,610
676,951
GNMA Series 2009-12 Class FA (U.S. SOFR 1 Month+1.06%)±
6.38
3-20-2039
 
854,792
858,818
GNMA Series 2009-15 Class FL (U.S. SOFR 1 Month+1.06%)±
6.38
3-20-2039
 
854,792
857,496
GNMA Series 2009-29 Class FL (U.S. SOFR 1 Month+0.76%)±
6.08
5-16-2039
 
939,313
937,540
GNMA Series 2009-36 Class FE (U.S. SOFR 1 Month+0.91%)±
6.23
9-20-2038
 
875,342
877,856
GNMA Series 2009-50 Class FW (U.S. SOFR 1 Month+1.11%)±
6.43
7-20-2039
 
643,820
649,260
GNMA Series 2009-52 Class FD (U.S. SOFR 1 Month+1.06%)±
6.38
7-16-2039
 
326,259
328,176
GNMA Series 2010-25 Class FH (U.S. SOFR 1 Month+0.83%)±
6.15
2-16-2040
 
463,221
461,285
GNMA Series 2010-79 Class YF (U.S. SOFR 1 Month+0.46%)±
5.78
5-20-2035
 
1,458,400
1,443,524
GNMA Series 2011-117 Class FJ (U.S. SOFR 1 Month+0.98%)±
6.30
8-20-2041
 
838,104
841,985
GNMA Series 2011-H12 Class FA (U.S. SOFR 1 Month+0.60%)±
5.93
2-20-2061
 
195,582
195,221
GNMA Series 2011-H17 Class FA (U.S. SOFR 1 Month+0.64%)±
5.97
6-20-2061
 
171,953
171,773
GNMA Series 2012-124 Class GF (U.S. SOFR 1 Month+0.36%)±
5.68
10-20-2042
 
977,989
956,117
GNMA Series 2014-44 Class IAƒ
3.50
5-20-2028
 
871,232
24,079
GNMA Series 2014-H16 Class FL (U.S. SOFR 1 Month+0.58%)±
5.91
7-20-2064
 
525,027
521,108
GNMA Series 2014-H22 Class FC (U.S. SOFR 1 Month+0.59%)±
5.92
11-20-2064
 
1,119,907
1,117,983
GNMA Series 2015-H23 Class TA (U.S. SOFR 1 Month+0.58%)±
5.91
9-20-2065
 
1,201,592
1,199,242
GNMA Series 2016-H24 Class FD (U.S. SOFR 12 Month+1.02%)±
6.45
11-20-2066
 
303,136
302,443
GNMA Series 2017-130 Class FH (U.S. SOFR 1 Month+0.41%)±
5.73
8-20-2047
 
1,585,411
1,532,297
GNMA Series 2017-H11 Class FE (U.S. SOFR 12 Month+0.90%)±
5.92
5-20-2067
 
2,241,393
2,225,079
GNMA Series 2018-120 Class FL (U.S. SOFR 1 Month+0.41%)±
5.73
9-20-2048
 
222,799
215,560
GNMA Series 2018-49 Class FM (U.S. SOFR 1 Month+0.36%)±
5.68
4-20-2048
 
1,002,300
967,633
GNMA Series 2018-H07 Class FD (U.S. SOFR 1 Month+0.41%)±
5.74
5-20-2068
 
173,459
173,590
GNMA Series 2018-H13 Class FC (U.S. SOFR 1 Month+0.41%)±
5.74
7-20-2068
 
178,136
177,203
GNMA Series 2019-103 Class FG (U.S. SOFR 1 Month+0.56%)±
5.88
4-20-2049
 
881,837
860,140
GNMA Series 2019-129 Class WF (U.S. SOFR 1 Month+0.51%)±
5.83
2-20-2046
 
1,062,044
1,023,093
GNMA Series 2019-H06 Class FD (U.S. SOFR 1 Month+0.83%)±
6.16
1-20-2069
 
555,655
554,762
GNMA Series 2019-H09 Class FE (U.S. SOFR 1 Month+0.61%)±
5.94
4-20-2069
 
801,011
799,201
GNMA Series 2019-H10 Class FB (U.S. SOFR 1 Month+0.71%)±
6.04
6-20-2069
 
2,746,960
2,701,516
See accompanying notes to portfolio of investments
Allspring Adjustable Rate Government Fund | 11
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
Interest
rate
Maturity
date
Principal
Value
Agency securities(continued)
 
GNMA Series 2019-H15 Class FE (U.S. SOFR 1 Month+0.74%)±
6.07
%
9-20-2069
$
1,761,945
$1,761,913
GNMA Series 2020-H12 Class F (U.S. SOFR 1 Month+0.61%)±
5.94
7-20-2070
 
736,388
721,891
GNMA Series 2020-H19 Class FB (U.S. SOFR 1 Month+0.56%)±
5.89
11-20-2070
 
2,270,095
2,254,733
GNMA Series 2021-H01 Class FC (U.S. SOFR 1 Month+0.51%)±
5.84
11-20-2070
 
1,302,086
1,271,186
GNMA Series 2021-H14 Class FA (30 Day Average U.S. SOFR+0.30%)±
5.62
4-20-2070
 
3,433,670
3,321,675
Total agency securities (Cost $207,581,664)
 
203,028,890
Asset-backed securities:  1.24%
 
Brazos Education Funding LLC Series 2015-1 Class A (30 Day Average
U.S. SOFR+1.11%)144A±
6.44
10-25-2056
 
826,329
827,448
ECMC Group Student Loan Trust Series 2018-2A Class A (30 Day
Average U.S. SOFR+0.91%)144A±
6.24
9-25-2068
 
110,681
109,916
Navient Private Education Refinance Loan Trust Series 2020-GA
Class A144A
1.17
9-16-2069
 
815,235
733,100
Navient Student Loan Trust Series 2021-1A Class A1B (30 Day Average
U.S. SOFR+0.71%)144A±
6.04
12-26-2069
 
643,150
634,934
Nelnet Student Loan Trust Series 2019-4A Class A (U.S. SOFR 1
Month+0.98%)144A±
6.31
9-26-2067
 
420,936
419,690
SLM Student Loan Trust Series 2004-10 Class A7B (90 Day Average
U.S. SOFR+0.86%)144A±
6.21
10-25-2029
 
63,796
63,816
Total asset-backed securities (Cost $2,876,847)
 
2,788,904
Corporate bonds and notes:  0.78%
 
Energy:  0.78%
 
Oil & gas services:  0.78%
 
Cal Dive I-Title XI, Inc.
4.93
2-1-2027
 
1,780,219
1,768,455
Total corporate bonds and notes (Cost $1,817,370)
 
1,768,455
Non-agency mortgage-backed securities:  3.47%
 
Angel Oak Mortgage Trust Series 2020-R1 Class A1144A±±
0.99
4-25-2053
 
401,876
369,715
FRESB Mortgage Trust Series 2022-SB94 Class A5H±±
1.72
11-25-2041
 
5,570,787
5,118,912
GS Mortgage-Backed Securities Corp. Trust Series 2020-PJ4
Class A2144A±±
3.00
1-25-2051
 
589,258
487,086
MFA Trust Series 2020-NQM3 Class A1144A±±
1.01
1-26-2065
 
222,953
202,565
New Residential Mortgage Loan Trust Series 2018-4A Class A1M
(U.S. SOFR 1 Month+1.01%)144A±
6.34
1-25-2048
 
739,150
720,873
New Residential Mortgage Loan Trust Series 2020-RPL1
Class A1144A±±
2.75
11-25-2059
 
165,445
154,010
Starwood Mortgage Residential Trust Series 2021-2 Class A1144A±±
0.94
5-25-2065
 
602,327
544,528
Towd Point Mortgage Trust Series 2017-5 Class A1 (U.S. SOFR 1
Month+0.71%)144A±
6.04
2-25-2057
 
207,528
211,732
Total non-agency mortgage-backed securities (Cost $8,523,055)
 
7,809,421
See accompanying notes to portfolio of investments
12 | Allspring Adjustable Rate Government Fund
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
 
Yield
 
Shares
Value
Short-term investments:  2.74%
 
Investment companies:  2.74%
 
Allspring Government Money Market Fund Select Class♠∞
5.24
%
 
6,172,758
$6,172,758
Total short-term investments (Cost $6,172,758)
 
6,172,758
Total investments in securities (Cost $226,971,694)
98.38
%
 
221,568,428
Other assets and liabilities, net
1.62
 
3,653,851
Total net assets
100.00
%
 
$225,222,279
 
±±
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.
±
Variable rate investment. The rate shown is the rate in effect at period end.
ƒ
Investment in an interest-only security that entitles holders to receive only the interest payments on the underlying mortgages. The principal amount shown is the
notional amount of the underlying mortgages. The rate represents the coupon rate.
144A
The security may be resold in transactions exempt from registration, normally to qualified institutional buyers, pursuant to Rule 144A under the Securities Act of
1933.
♠
The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940.
∞
The rate represents the 7-day annualized yield at period end.
 
Abbreviations:
COFI
Cost of Funds Index
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
RFUCCT1M
Refinitiv USD IBOR Consumer Cash Fallbacks Term 1-month
RFUCCT6M
Refinitiv USD IBOR Consumer Cash Fallbacks Term 6-month
SOFR
Secured Overnight Financing Rate
STRIPS
Separate trading of registered interest and principal securities
Investments in affiliates
An affiliated investment is an investment in which the Fund owns at least 5% of the outstanding voting shares of the issuer or as a result of other relationships, such as the Fund and the issuer having the same investment manager. Transactions with issuers that were affiliates of the Fund at the end of the period were as follows: 
 
Value,
beginning of
period
Purchases
Sales
proceeds
Net
realized
gains
(losses)
Net
change in
unrealized
gains
(losses)
Value,
end of
period
Shares,
end
of period
Income
from
affiliated
securities
Short-term investments
Allspring Government Money Market Fund Select
Class
$7,537,678
$94,279,211
$(95,644,131
)
$0
$0
$6,172,758
6,172,758
$212,003
Futures contracts 
Description
Number of
contracts
Expiration
date
Notional
cost
Notional
value
Unrealized
gains
Unrealized
losses
Short
10-Year U.S. Treasury Notes
(58
)
9-19-2024
$(6,322,751
)
$(6,310,219
)
$12,532
$0
Ultra 10-Year U.S. Treasury Notes
(63
)
9-19-2024
(7,073,611
)
(7,057,968
)
15,643
0
2-Year U.S. Treasury Notes
(102
)
9-30-2024
(20,767,993
)
(20,777,719
)
0
(9,726
)
5-Year U.S. Treasury Notes
(66
)
9-30-2024
(6,983,665
)
(6,982,594
)
1,071
0
 
$29,246
$(9,726
)
See accompanying notes to portfolio of investments
Allspring Adjustable Rate Government Fund | 13
Notes to portfolio of investments—May 31, 2024 (unaudited)
Notes to portfolio of investments
Securities valuation
All investments are valued each business day as of the close of regular trading on the New York Stock Exchange (generally 4 p.m. Eastern Time), although the Fund may deviate from this calculation time under unusual or unexpected circumstances.
Debt securities are valued at the evaluated bid price provided by an independent pricing service (e.g., taking into account various factors, including yields, maturities, or credit ratings) or, if a reliable price is not available, the quoted bid price from an independent broker-dealer.
Futures contracts that are listed on a foreign or domestic exchange or market are valued at the official closing price or, if none, the last sales price.
Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.
Investments which are not valued using the methods discussed above are valued at their fair value, as determined in good faith by Allspring Funds Management, LLC (“Allspring Funds Management”), which was named the valuation designee by the Board of Trustees. As the valuation designee, Allspring Funds Management is responsible for day-to-day valuation activities for the Allspring Funds. In connection with these responsibilities, Allspring Funds Management has established a Valuation Committee and has delegated to it the authority to take any actions regarding the valuation of portfolio securities that the Valuation Committee deems necessary or appropriate, including determining the fair value of portfolio securities. On a quarterly basis, the Board of Trustees receives reports of valuation actions taken by the Valuation Committee. On at least an annual basis, the Board of Trustees receives an assessment of the adequacy and effectiveness of Allspring Funds Management’s process for determining the fair value of the portfolio of investments.
Futures contracts
Futures contracts are agreements between the Fund and a counterparty to buy or sell a specific amount of a commodity, financial instrument or currency at a specified price and on a specified date. The Fund may buy and sell futures contracts in order to gain exposure to, or protect against, changes in interest rates and is subject to interest rate risk. The primary risks associated with the use of futures contracts are the imperfect correlation between changes in market values of securities held by the Fund and the prices of futures contracts, and the possibility of an illiquid market. Futures contracts are generally entered into on a regulated futures exchange and cleared through a clearinghouse associated with the exchange. With futures contracts, there is minimal counterparty risk to the Fund since futures contracts are exchange-traded and the exchange’s clearinghouse, as the counterparty to all exchange-traded futures, guarantees the futures contracts against default.
Upon entering into a futures contract, the Fund is required to deposit either cash or securities (initial margin) with the broker in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are paid to or received from the broker each day equal to the daily changes in the contract value. Such payments are recorded as unrealized gains or losses and, if any, shown as variation margin receivable (payable). Should the Fund fail to make requested variation margin payments, the broker can gain access to the initial margin to satisfy the Fund’s payment obligations. When the contracts are closed, a realized gain or loss is recorded.
Mortgage dollar roll transactions
The Fund may engage in mortgage dollar roll transactions through TBA mortgage-backed securities issued by Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC). In a mortgage dollar roll transaction, the Fund sells a mortgage-backed security to a financial institution, such as a bank or broker-dealer and simultaneously agrees to repurchase a substantially similar security from the institution at a later date at an agreed upon price. The mortgage-backed securities that are repurchased will bear the same interest rate as those sold, but generally will be collateralized by different pools of mortgages with different pre-payment histories. During the roll period, the Fund foregoes principal and interest paid on the securities. The Fund is compensated by the difference between the current sales price and the forward price for the future purchase as well as by the earnings on the cash proceeds of the initial sale. Mortgage dollar rolls may be renewed without physical delivery of the securities subject to the contract. The Fund accounts for TBA dollar roll transactions as purchases and sales which, as a result, may increase its portfolio turnover rate.
Fair valuation measurements
Fair value measurements of investments are determined within a framework that has established a fair value hierarchy based upon the various data inputs utilized in determining the value of the Fund’s investments.  The three-level hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The Fund’s investments are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement.  The inputs are summarized into three broad levels as follows:
•Level 1 – quoted prices in active markets for identical securities
•Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
•Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
14 | Allspring Adjustable Rate Government Fund
Notes to portfolio of investments—May 31, 2024 (unaudited)
The inputs or methodologies used for valuing investments in securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used in valuing the Fund’s assets and liabilities as of May 31, 2024: 
 
Quoted prices
(Level 1)
Other significant
observable inputs
(Level 2)
Significant
unobservable inputs
(Level 3)
Total
Assets
Investments in:
Agency securities
$0
$203,028,890
$0
$203,028,890
Asset-backed securities
0
2,788,904
0
2,788,904
Corporate bonds and notes
0
1,768,455
0
1,768,455
Non-agency mortgage-backed securities
0
7,809,421
0
7,809,421
Short-term investments
Investment companies
6,172,758
0
0
6,172,758
 
6,172,758
215,395,670
0
221,568,428
Futures contracts
29,246
0
0
29,246
Total assets
$6,202,004
$215,395,670
$0
$221,597,674
Liabilities
Futures contracts
$9,726
$0
$0
$9,726
Total liabilities
$9,726
$0
$0
$9,726
Futures contracts are reported at their cumulative unrealized gains (losses) at measurement date as reported in the table following the Portfolio of Investments. All other assets and liabilities are reported at their market value at measurement date.
Additional sector, industry or geographic detail, if any, is included in the Portfolio of Investments.
As of May 31, 2024, $1,366,000 was segregated as cash collateral for these open futures contracts.
At May 31, 2024, the Fund did not have any transfers into/out of Level 3.
Allspring Adjustable Rate Government Fund | 15