NPORT-EX 2 fund2lkc.htm
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Agency securities: 0.95%            
FHLMC (5 Year Treasury Constant Maturity +2.08%) ±   3.34% 9-1-2032 $         418,632 $     421,936
FHLMC   8.50 7-1-2028            16,371       18,678
FHLMC Series 1383 (1 Year Treasury Constant Maturity +2.25%) ±   2.55 2-1-2037            82,779       87,633
FHLMC Series 2012-K17 Class B 144A±±   4.32 12-25-2044           675,000      694,700
FHLMC Series 2012-K18 Class B 144A±±   4.22 1-25-2045           810,000      834,977
FHLMC Series 2013-K30 Class B 144A±±   3.56 6-25-2045           700,000      743,046
FHLMC Series 2390 Class FD (1 Month LIBOR +0.45%) ±   0.58 12-15-2031            10,767       10,787
FHLMC Series 2567 Class FH (1 Month LIBOR +0.40%) ±   0.53 2-15-2033            31,748       31,213
FHLMC Series 3987 Class CI ♀   3.50 6-15-2026         2,579,417       70,328
FHLMC Series K016 Class X1 ♀±±   1.48 10-25-2021           311,221        1,251
FHLMC Series K020 Class X1 ♀±±   1.34 5-25-2022         5,789,174       80,726
FNMA (6 Month LIBOR +1.64%) ±   2.52 9-1-2037            19,737       19,806
FNMA   6.00 4-1-2033            51,800       54,181
FNMA   7.50 2-1-2030            10,568       10,649
FNMA   7.50 9-1-2030            14,804       14,919
FNMA Series 1997-20 Class IO ♀±±   1.84 3-25-2027           121,766        2,264
FNMA Series 2001-25 Class Z   6.00 6-25-2031            52,991       59,904
FNMA Series 2001-35 Class F (1 Month LIBOR +0.60%) ±   0.73 7-25-2031             2,694        2,714
FNMA Series 2001-57 Class F (1 Month LIBOR +0.50%) ±   0.63 6-25-2031             2,712        2,737
FNMA Series 2002-77 Class FH (1 Month LIBOR +0.40%) ±   0.53 12-18-2032            16,964       16,977
FNMA Series 2002-97 Class FR (1 Month LIBOR +0.55%) ±   0.68 1-25-2033             4,405        4,433
FNMA Series G92-17 Class F (1 Month LIBOR +1.05%) ±   1.18 3-25-2022               986          986
GNMA   6.50 6-15-2028            14,583       16,250
GNMA Series 2019-H06 Class HI ♀±±   1.75 4-20-2069   5,450,370 256,220
Total Agency securities (Cost $3,268,542)           3,457,315
Asset-backed securities: 0.57%            
Asset-Backed Funding Certificates Series 2003-AHL1 Class A1   4.18 3-25-2033   130,132 132,811
Bear Stearns Asset Backed Securities Series 2002-2 Class A1 (1 Month LIBOR+0.66%) ±   0.79 10-25-2032   100,360 99,712
CVS Pass-Through Trust Series T   6.04 12-10-2028   383,867 444,676
Five Guys Funding LLC Series 17-1A Class A2 144A   4.60 7-25-2047   992,500 1,034,648
Mesa Trust Asset Backed Certificates Series 2001-5 Class A (1 Month LIBOR+0.80%) 144A±   0.93 12-25-2031   6,298 6,264
Montana Higher Education Student Assistance Corporation Series 2012-1 Class A2 (1 Month LIBOR+1.00%) ±   1.15 5-20-2030   243,601 244,321
Student Loan Consolidation Center Series 2011-1 Class A (1 Month LIBOR+1.22%) 144A±   1.37 10-25-2027   129,408 130,195
Total Asset-backed securities (Cost $2,055,830)           2,092,627
    
See accompanying notes to portfolio of investments
Wells Fargo Multi-Sector Income Fund  |  1
Portfolio of investments—January 31, 2021 (unaudited)
        Shares Value
Common stocks: 2.04%            
Energy: 2.04%            
Energy equipment & services: 0.84%            
Bristow Group Incorporated †                 126,416 $   3,060,531
Oil, gas & consumable fuels: 1.20%            
Denbury Incorporated †                 133,818    3,828,533
Whiting Petroleum Corporation †                  27,317      555,628
               4,384,161
Total Common stocks (Cost $7,603,171)              7,444,692
    
        Principal  
Corporate bonds and notes: 67.37%            
Communication services: 9.45%            
Diversified telecommunication services: 0.70%            
Cablevision Lightpath LLC 144A   5.63% 9-15-2028 $         140,000      143,500
Cablevision Lightpath LLC 144A   3.88 9-15-2027           160,000      160,816
Frontier Communications 144A   5.88 10-15-2027           180,000      193,446
Level 3 Financing Incorporated 144A   3.63 1-15-2029           425,000      422,880
Level 3 Financing Incorporated 144A   4.25 7-1-2028           375,000      384,266
Level 3 Financing Incorporated   5.38 1-15-2024           700,000      700,630
Windstream Corporation 144A   7.75 8-15-2028           530,000      536,625
               2,542,163
Entertainment: 0.44%            
Live Nation Entertainment Incorporated 144A   3.75 1-15-2028           220,000      221,971
Live Nation Entertainment Incorporated 144A   5.63 3-15-2026           228,000      233,985
Live Nation Entertainment Incorporated 144A   6.50 5-15-2027         1,025,000    1,138,683
               1,594,639
Interactive media & services: 0.15%            
Rackspace Technology Company 144A   5.38 12-1-2028           550,000      573,375
Media: 7.51%            
Block Communications Incorporated 144A   4.88 3-1-2028           150,000      155,063
CCO Holdings LLC 144A   4.50 8-15-2030         3,000,000    3,159,360
CCO Holdings LLC 144A   4.50 5-1-2032           250,000      260,055
CCO Holdings LLC 144A   5.00 2-1-2028           150,000      157,575
CCO Holdings LLC   5.13 5-1-2027           450,000      473,157
Charter Communications Operating LLC   5.05 3-30-2029   675,000 807,040
Cinemark USA Incorporated   4.88 6-1-2023   2,431,000 2,336,799
Cinemark USA Incorporated   5.13 12-15-2022   876,000 856,290
Cinemark USA Incorporated 144A   8.75 5-1-2025   75,000 80,554
Consolidated Communications 144A   6.50 10-1-2028   550,000 598,307
CSC Holdings LLC   4.13 12-1-2030   225,000 230,040
CSC Holdings LLC   4.63 12-1-2030   625,000 637,500
CSC Holdings LLC 144A   5.38 2-1-2028   425,000 450,793
CSC Holdings LLC   5.50 5-15-2026   1,275,000 1,322,443
Diamond Sports Group LLC 144A   5.38 8-15-2026   675,000 545,063
Diamond Sports Group LLC 144A   6.63 8-15-2027   1,300,000 825,500
Gray Television Incorporated 144A   7.00 5-15-2027   325,000 355,209
Gray Television Incorporated 144A   4.75 10-15-2030   600,000 596,445
Interpublic Group of Companies   4.00 3-15-2022   750,000 776,953
Lamar Media Corporation   5.75 2-1-2026   100,000 102,890
See accompanying notes to portfolio of investments
2  |  Wells Fargo Multi-Sector Income Fund
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Media (continued)            
Nexstar Broadcasting Incorporated 144A   5.63% 7-15-2027 $       2,000,000 $   2,122,920
Nexstar Broadcasting Incorporated 144A   4.75 11-1-2028           450,000      463,500
Nielsen Finance LLC 144A   5.63 10-1-2028           380,000      406,095
Nielsen Finance LLC 144A   5.88 10-1-2030         1,800,000    1,999,665
Outfront Media Capital Corporation 144A   4.63 3-15-2030           675,000      673,313
Outfront Media Capital Corporation 144A   5.00 8-15-2027            25,000       25,770
Outfront Media Capital Corporation   5.63 2-15-2024            20,000       20,210
QVC Incorporated   4.75 2-15-2027           150,000      160,819
Salem Media Group Incorporated 144A   6.75 6-1-2024         2,600,000    2,561,000
Scripps Escrow II Incorporated 144A   3.88 1-15-2029           170,000      170,000
Scripps Escrow II Incorporated 144A   5.38 1-15-2031           790,000      797,900
The E.W. Scripps Company 144A   5.13 5-15-2025         1,840,000    1,876,800
The E.W. Scripps Company 144A   5.88 7-15-2027           100,000      104,220
Townsquare Media Incorporated 144A   6.88 2-1-2026         1,190,000    1,228,675
              27,337,923
Wireless telecommunication services: 0.65%            
Sprint Capital Corporation   8.75 3-15-2032           975,000    1,489,313
Sprint Spectrum Company 144A   5.15 9-20-2029           750,000      872,430
               2,361,743
Consumer discretionary: 8.16%            
Auto components: 0.75%            
Clarios Global LP 144A   6.75 5-15-2025            50,000       53,266
Cooper Tire & Rubber Company   7.63 3-15-2027         1,710,000    2,025,649
Goodyear Tire & Rubber Company   5.13 11-15-2023   500,000 500,355
Panther BF Aggregator 2 LP 144A   6.25 5-15-2026   125,000 133,021
            2,712,291
Automobiles: 0.49%            
Ford Motor Company   4.75 1-15-2043   1,500,000 1,513,956
Ford Motor Company   9.00 4-22-2025   100,000 121,875
Ford Motor Company   9.63 4-22-2030   100,000 141,719
            1,777,550
Diversified consumer services: 2.03%            
Carriage Services Incorporated 144A   6.63 6-1-2026   1,700,000 1,793,500
Prime Security Services Borrower LLC 144A   3.38 8-31-2027   1,205,000 1,189,383
Service Corporation International   7.50 4-1-2027   3,400,000 4,131,000
Service Corporation International   8.00 11-15-2021   275,000 288,800
            7,402,683
Hotels, restaurants & leisure: 2.57%            
Carnival Corporation 144A   7.63 3-1-2026   1,210,000 1,279,575
Carnival Corporation 144A   9.88 8-1-2027   425,000 487,688
Carnival Corporation 144A   11.50 4-1-2023   800,000 907,672
CCM Merger Incorporated 144A   6.38 5-1-2026   975,000 1,033,500
NCL Corporation Limited 144A   5.88 3-15-2026   160,000 158,301
NCL Corporation Limited 144A   12.25 5-15-2024   1,115,000 1,298,161
Royal Caribbean Cruises Limited 144A   9.13 6-15-2023   1,400,000 1,510,250
Royal Caribbean Cruises Limited 144A   10.88 6-1-2023   525,000 591,938
See accompanying notes to portfolio of investments
Wells Fargo Multi-Sector Income Fund  |  3
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Hotels, restaurants & leisure (continued)            
Wyndham Hotels & Resorts Company 144A   5.38% 4-15-2026 $       1,875,000 $   1,919,531
Yum! Brands Incorporated 144A   7.75 4-1-2025           150,000      164,642
               9,351,258
Multiline retail: 0.87%            
Macy's Incorporated 144A   8.38 6-15-2025           675,000      747,563
Nordstrom Incorporated   5.00 1-15-2044         1,175,000    1,158,155
Nordstrom Incorporated 144A   8.75 5-15-2025         1,125,000    1,258,919
               3,164,637
Specialty retail: 1.27%            
Asbury Automotive Group Incorporated   4.75 3-1-2030           406,000      426,990
Asbury Automotive Group Incorporated   4.50 3-1-2028           419,000      430,523
Group 1 Automotive Incorporated 144A   4.00 8-15-2028           450,000      459,428
Lithia Motors Incorporated 144A   4.38 1-15-2031           175,000      185,236
Lithia Motors Incorporated 144A   4.63 12-15-2027           150,000      158,250
Lithia Motors Incorporated 144A   5.25 8-1-2025           945,000      980,438
Macy's Retail Holdings Incorporated   3.88 1-15-2022           600,000      599,514
Michaels Stores Incorporated 144A   4.75 10-1-2027           555,000      568,875
Sonic Automotive Incorporated   6.13 3-15-2027           775,000      815,688
               4,624,942
Textiles, apparel & luxury goods: 0.18%            
The William Carter Company 144A   5.50 5-15-2025           125,000      132,813
The William Carter Company 144A   5.63 3-15-2027           500,000      528,125
                 660,938
Consumer staples: 1.09%            
Beverages: 0.19%            
Cott Beverages Incorporated 144A   5.50 4-1-2025   675,000 695,459
Food & staples retailing: 0.10%            
PETSMART Incorporated 144A%%   4.75 2-15-2028   185,000 185,000
PETSMART Incorporated 144A%%   7.75 2-15-2029   185,000 185,000
            370,000
Food products: 0.80%            
CHS Incorporated 144A   6.00 1-15-2029   40,000 42,500
CHS Incorporated %%   6.88 4-15-2029   1,230,000 1,243,838
Pilgrim's Pride Corporation 144A   5.75 3-15-2025   1,305,000 1,334,493
Prestige Brands Incorporated 144A   6.38 3-1-2024   280,000 285,600
            2,906,431
Energy: 13.54%            
Energy equipment & services: 2.78%            
Bristow Group Incorporated ♦†   6.25 10-15-2022   3,855,000 0
Era Group Incorporated   7.75 12-15-2022   2,350,000 2,347,063
Hilcorp Energy Company 144A   5.75 10-1-2025   1,875,000 1,917,188
Hilcorp Energy Company 144A   5.75 2-1-2029   270,000 274,541
Hilcorp Energy Company 144A   6.00 2-1-2031   270,000 274,050
Hilcorp Energy Company 144A   6.25 11-1-2028   350,000 369,250
Oceaneering International Incorporated   6.00 2-1-2028   1,725,000 1,604,250
See accompanying notes to portfolio of investments
4  |  Wells Fargo Multi-Sector Income Fund
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Energy equipment & services (continued)            
Pattern Energy Operations LP 144A   4.50% 8-15-2028 $       2,300,000 $   2,432,480
USA Compression Partners LP   6.88 4-1-2026           850,000      888,420
              10,107,242
Oil, gas & consumable fuels: 10.76%            
Aethon United 144A%%   8.25 2-15-2026         1,225,000    1,252,563
Antero Midstream Partners LP 144A   5.75 1-15-2028         1,020,000    1,020,000
Antero Resources Corporation   5.00 3-1-2025         1,450,000    1,373,875
Antero Resources Corporation 144A   8.38 7-15-2026           185,000      195,214
Apache Corporation   4.38 10-15-2028           750,000      746,730
Apache Corporation   4.75 4-15-2043           525,000      498,750
Archrock Partners LP 144A   6.25 4-1-2028           150,000      153,188
Archrock Partners LP 144A   6.88 4-1-2027           500,000      524,825
Boardwalk Pipelines LP   4.80 5-3-2029           750,000      857,099
Buckeye Partners LP   5.85 11-15-2043         1,125,000    1,122,188
Cheniere Energy Partners LP   4.50 10-1-2029           400,000      430,000
Cheniere Energy Partners LP   5.25 10-1-2025         1,000,000    1,026,250
Cheniere Energy Partners LP   5.63 10-1-2026           300,000      312,105
Energy Transfer Partners LP   5.20 2-1-2022           750,000      775,197
EnLink Midstream LLC 144A   5.63 1-15-2028           170,000      169,681
EnLink Midstream LLC   5.38 6-1-2029           950,000      907,250
EnLink Midstream Partners LP   4.40 4-1-2024           450,000      445,500
EnLink Midstream Partners LP   5.05 4-1-2045         1,575,000    1,259,669
EnLink Midstream Partners LP   5.45 6-1-2047           950,000      760,000
EnLink Midstream Partners LP   5.60 4-1-2044   750,000 601,875
Enviva Partners LP 144A   6.50 1-15-2026   2,250,000 2,370,488
Harvest Midstream LP 144A   7.50 9-1-2028   760,000 798,190
Indigo Natural Resources LLC 144A%%   5.38 2-1-2029   280,000 276,500
Kinder Morgan Energy Partners LP   3.95 9-1-2022   750,000 784,766
Kinder Morgan Incorporated   7.42 2-15-2037   800,000 1,065,700
Murphy Oil Corporation   5.75 8-15-2025   185,000 177,870
Murphy Oil Corporation   5.88 12-1-2027   150,000 142,605
Nabors Industries Limited 144A   9.00 2-1-2025   78,000 79,170
Occidental Petroleum Corporation   4.63 6-15-2045   1,825,000 1,591,195
Occidental Petroleum Corporation   6.20 3-15-2040   425,000 442,000
Occidental Petroleum Corporation   6.45 9-15-2036   3,390,000 3,720,101
Occidental Petroleum Corporation   6.60 3-15-2046   500,000 538,605
Phillips 66   4.30 4-1-2022   625,000 652,631
Plains All American Pipeline LP   3.85 10-15-2023   750,000 800,944
Range Resources Corporation 144A   8.25 1-15-2029   180,000 189,000
Range Resources Corporation   9.25 2-1-2026   1,100,000 1,198,769
Rockies Express Pipeline LLC 144A   6.88 4-15-2040   2,050,000 2,285,750
Rockies Express Pipeline LLC   7.50 7-15-2038   240,000 272,400
Southwestern Energy Company   7.50 4-1-2026   400,000 417,920
Southwestern Energy Company   7.75 10-1-2027   975,000 1,028,625
Southwestern Energy Company   8.38 9-15-2028   650,000 695,568
Tallgrass Energy Partners LP 144A   5.50 9-15-2024   2,548,000 2,593,940
Tallgrass Energy Partners LP 144A   7.50 10-1-2025   820,000 873,300
Western Midstream Operating LP   5.30 2-1-2030   600,000 660,000
Western Midstream Operating LP   5.30 3-1-2048   1,000,000 1,025,000
Western Midstream Operating LP   6.50 2-1-2050   75,000 84,375
            39,197,371
See accompanying notes to portfolio of investments
Wells Fargo Multi-Sector Income Fund  |  5
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Financials: 10.76%            
Banks: 1.19%            
Bank of America Corporation   5.70% 1-24-2022 $         250,000 $     263,285
Citigroup Incorporated   4.50 1-14-2022           250,000      259,927
Citigroup Incorporated (U.S. SOFR+3.23%) ʊ±   4.70 1-30-2025           750,000      766,875
City National Bank   5.38 7-15-2022           500,000      531,733
International Finance Corporation   7.50 5-9-2022         5,000,000      958,987
International Finance Corporation   7.50 5-9-2022         4,000,000      767,189
JPMorgan Chase & Company (3 Month LIBOR+3.25%) ±   5.15 12-29-2049           750,000      771,563
               4,319,559
Capital markets: 0.57%            
ACE Securities Corporation (1 Month LIBOR+2.63%) ±   2.76 6-25-2033            49,677       49,691
Goldman Sachs Group Incorporated   5.75 1-24-2022           750,000      789,626
Oppenheimer Holdings Incorporated   5.50 10-1-2025         1,200,000    1,218,000
               2,057,317
Consumer finance: 3.24%            
Discover Financial Services   5.20 4-27-2022           750,000      792,356
FirstCash Incorporated 144A   4.63 9-1-2028           445,000      461,265
Ford Motor Credit Company LLC   4.00 11-13-2030           590,000      604,750
Ford Motor Credit Company LLC   4.39 1-8-2026         1,450,000    1,542,438
Ford Motor Credit Company LLC   5.11 5-3-2029         2,175,000    2,393,887
Ford Motor Credit Company LLC   5.13 6-16-2025           225,000      244,350
Genworth Mortgage Holding 144A   6.50 8-15-2025           175,000      186,594
Hawaiian Brand Intellectual Property Limited 144A%%   5.75 1-20-2026         1,900,000    1,976,000
Springleaf Finance Corporation   5.38 11-15-2029   625,000 687,500
Springleaf Finance Corporation   6.13 3-15-2024   750,000 819,615
Springleaf Finance Corporation   6.63 1-15-2028   100,000 116,750
Springleaf Finance Corporation   7.13 3-15-2026   925,000 1,082,250
Synchrony Financial   5.15 3-19-2029   750,000 898,243
            11,805,998
Diversified financial services: 2.30%            
DAE Funding LLC 144A   5.75 11-15-2023   875,000 899,063
LPL Holdings Incorporated 144A   5.75 9-15-2025   3,700,000 3,823,210
Mileage Plus Holdings LLC 144A   6.50 6-20-2027   2,200,000 2,406,250
United Shore Financial Services LLC 144A   5.50 11-15-2025   1,188,000 1,250,370
            8,378,893
Insurance: 2.36%            
American International Group Incorporated   4.88 6-1-2022   750,000 793,291
AmWINS Group Incorporated 144A   7.75 7-1-2026   1,625,000 1,741,805
Assurant Incorporated   3.70 2-22-2030   750,000 836,681
Brighthouse Financial Incorporated   4.70 6-22-2047   850,000 898,423
HUB International Limited 144A   7.00 5-1-2026   550,000 570,625
Liberty Mutual Group Incorporated 144A   4.57 2-1-2029   750,000 905,121
Prudential Financial Incorporated (3 Month LIBOR+2.38%) ±   4.50 9-15-2047   750,000 815,281
Sammons Financial Group Incorporated 144A   4.45 5-12-2027   750,000 805,478
See accompanying notes to portfolio of investments
6  |  Wells Fargo Multi-Sector Income Fund
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Insurance (continued)            
USI Incorporated 144A   6.88% 5-1-2025 $         550,000 $     558,839
W.R. Berkley Corporation   4.63 3-15-2022           650,000      679,522
               8,605,066
Mortgage REITs: 0.52%            
Starwood Property Trust Incorporated   4.75 3-15-2025           755,000      755,596
Starwood Property Trust Incorporated   5.00 12-15-2021           420,000      425,775
Starwood Property Trust Incorporated 144A   5.50 11-1-2023           690,000      717,600
               1,898,971
Thrifts & mortgage finance: 0.58%            
Ladder Capital Finance Holdings LP 144A   4.25 2-1-2027           200,000      191,616
Ladder Capital Finance Holdings LP 144A   5.25 3-15-2022           150,000      150,750
Ladder Capital Finance Holdings LP 144A   5.25 10-1-2025         1,775,000    1,770,563
               2,112,929
Health care: 5.13%            
Health care equipment & supplies: 0.70%            
Hill-Rom Holdings Incorporated 144A   4.38 9-15-2027           475,000      493,406
Hill-Rom Holdings Incorporated   5.00 2-15-2025           400,000      411,500
Hologic Incorporated 144A   3.25 2-15-2029           610,000      619,913
Hologic Incorporated   4.63 2-1-2028           225,000      238,500
Surgery Center Holdings Incorporated 144A   6.75 7-1-2025           750,000      770,663
               2,533,982
Health care providers & services: 3.17%            
AdaptHealth LLC 144A   4.63 8-1-2029           240,000      245,134
Centene Corporation 144A   5.38 8-15-2026   125,000 131,094
Cigna Corporation   3.90 2-15-2022   315,000 326,442
CommonSpirit Health   3.82 10-1-2049   750,000 851,534
Community Health Systems Incorporated 144A   6.63 2-15-2025   1,170,000 1,231,659
Davita Incorporated 144A   4.63 6-1-2030   600,000 630,192
Encompass Health Corporation   4.50 2-1-2028   150,000 156,188
Encompass Health Corporation   4.75 2-1-2030   175,000 188,228
Encompass Health Corporation   4.63 4-1-2031   175,000 185,938
HealthSouth Corporation   5.75 9-15-2025   575,000 592,969
Magellan Health Incorporated   4.90 9-22-2024   325,000 356,756
MPT Operating Partnership LP   4.63 8-1-2029   325,000 347,578
MPT Operating Partnership LP   5.00 10-15-2027   1,100,000 1,166,000
MPT Operating Partnership LP   5.25 8-1-2026   1,575,000 1,630,125
Select Medical Corporation 144A   6.25 8-15-2026   900,000 961,650
Tenet Healthcare Corporation 144A   4.63 6-15-2028   125,000 130,762
Tenet Healthcare Corporation 144A   4.88 1-1-2026   1,025,000 1,069,208
Tenet Healthcare Corporation 144A   5.13 11-1-2027   225,000 237,119
Tenet Healthcare Corporation 144A   6.25 2-1-2027   425,000 447,697
Tenet Healthcare Corporation   7.00 8-1-2025   300,000 310,125
Tenet Healthcare Corporation 144A   7.50 4-1-2025   150,000 162,070
Vizient Incorporated 144A   6.25 5-15-2027   175,000 185,938
            11,544,406
See accompanying notes to portfolio of investments
Wells Fargo Multi-Sector Income Fund  |  7
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Health care technology: 0.73%            
Change Healthcare Holdings Incorporated 144A   5.75% 3-1-2025 $       2,375,000 $   2,436,038
IQVIA Incorporated 144A   5.00 10-15-2026           225,000      233,719
               2,669,757
Life sciences tools & services: 0.18%            
Charles River Laboratories Incorporated 144A   5.50 4-1-2026           150,000      156,563
Ortho-Clinical Diagnostics Incorporated 144A   7.25 2-1-2028            90,000       96,300
Syneos Health Incorporated 144A   3.63 1-15-2029           400,000      399,880
                 652,743
Pharmaceuticals: 0.35%            
Bausch Health Companies Incorporated   6.25 2-15-2029           600,000      643,548
Bausch Health Companies Incorporated 144A   7.00 3-15-2024           575,000      587,765
Bausch Health Companies Incorporated 144A   7.25 5-30-2029            50,000       55,688
               1,287,001
Industrials: 8.26%            
Aerospace & defense: 1.63%            
RBS Global & Rexnord LLC 144A   4.88 12-15-2025         1,704,000    1,741,045
Signature Aviation US Holdings Incorporated 144A   4.00 3-1-2028           600,000      611,628
Signature Aviation US Holdings Incorporated 144A   5.38 5-1-2026         2,025,000    2,075,018
Spirit AeroSystems Holdings Incorporated   4.60 6-15-2028           605,000      579,853
Spirit AeroSystems Holdings Incorporated 144A   5.50 1-15-2025           305,000      319,869
TransDigm Incorporated 144A   6.25 3-15-2026           575,000      608,178
               5,935,591
Airlines: 1.84%            
Delta Air Lines Incorporated   3.75 10-28-2029   690,000 677,366
Delta Air Lines Incorporated 144A   4.75 10-20-2028   3,500,000 3,878,485
United Airlines   5.88 4-15-2029   1,556,441 1,738,410
United Airlines Pass-Through Trust Certificates Series 2020-1 Class B %%   4.88 7-15-2027   400,000 409,000
            6,703,261
Commercial services & supplies: 2.14%            
Covanta Holding Corporation   5.88 7-1-2025   515,000 534,313
IAA Spinco Incorporated 144A   5.50 6-15-2027   1,700,000 1,785,170
KAR Auction Services Incorporated 144A   5.13 6-1-2025   4,200,000 4,310,250
Plastipak Holdings Incorporated 144A   6.25 10-15-2025   1,150,000 1,175,875
            7,805,608
Construction & engineering: 0.04%            
Pike Corporation 144A   5.50 9-1-2028   145,000 149,713
Machinery: 1.16%            
Meritor Incorporated 144A   4.50 12-15-2028   600,000 612,000
See accompanying notes to portfolio of investments
8  |  Wells Fargo Multi-Sector Income Fund
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Machinery (continued)            
Stevens Holding Company Incorporated 144A   6.13% 10-1-2026 $       1,425,000 $   1,552,680
Trimas Corporation 144A   4.88 10-15-2025         1,997,000    2,042,841
               4,207,521
Professional services: 0.15%            
Verisk Analytics Incorporated   5.80 5-1-2021           530,000      537,013
Road & rail: 0.28%            
Uber Technologies Incorporated 144A   8.00 11-1-2026           950,000    1,025,169
Trading companies & distributors: 0.72%            
Fortress Transportation & Infrastructure Investors LLC 144A   6.50 10-1-2025         2,325,000    2,406,375
Fortress Transportation & Infrastructure Investors LLC 144A   9.75 8-1-2027           200,000      226,140
               2,632,515
Transportation infrastructure: 0.30%            
Allison Transmission Incorporated 144A   3.75 1-30-2031         1,100,000    1,093,928
Information technology: 5.07%            
Communications equipment: 0.45%            
CommScope Technologies Finance LLC 144A   6.00 6-15-2025           715,000      730,122
CommScope Technologies Finance LLC 144A   8.25 3-1-2027           845,000      910,014
               1,640,136
Electronic equipment, instruments &
components: 0.20% 		           
Keysight Technologies   4.60 4-6-2027           600,000      714,460
IT services: 0.93%            
Cardtronics Incorporated 144A   5.50 5-1-2025         2,328,000    2,409,480
Flexential Intermediate Corporation 144A   11.25 8-1-2024           365,000      388,725
Sabre GLBL Incorporated 144A   9.25 4-15-2025   485,000 575,428
            3,373,633
Semiconductors & semiconductor
equipment: 0.28% 		           
Broadcom Corporation   3.50 1-15-2028   750,000 818,556
Qorvo Incorporated   4.38 10-15-2029   175,000 190,969
            1,009,525
Software: 1.49%            
Fair Isaac Corporation 144A   5.25 5-15-2026   1,000,000 1,130,000
IQVIA Incorporated 144A   5.00 5-15-2027   250,000 263,220
Logan Merger Sub Incorporated 144A   5.50 9-1-2027   575,000 601,594
MPH Acquisition Holdings Company 144A   5.75 11-1-2028   1,610,000 1,595,913
NortonLifeLock Incorporated 144A   5.00 4-15-2025   475,000 483,455
SS&C Technologies Incorporated 144A   5.50 9-30-2027   500,000 529,505
VMware Incorporated   3.90 8-21-2027   750,000 841,745
            5,445,432
Technology hardware, storage & peripherals: 1.72%            
Dell International LLC 144A   7.13 6-15-2024   3,200,000 3,323,520
See accompanying notes to portfolio of investments
Wells Fargo Multi-Sector Income Fund  |  9
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Technology hardware, storage & peripherals
(continued) 		           
Diamond 1 Finance Corporation 144A   6.02% 6-15-2026 $         750,000 $     905,394
Hewlett-Packard Company   4.05 9-15-2022           750,000      792,901
NCR Corporation 144A   6.13 9-1-2029         1,000,000    1,077,980
NCR Corporation 144A   8.13 4-15-2025           150,000      164,250
               6,264,045
Materials: 2.31%            
Chemicals: 0.05%            
Valvoline Incorporated 144A   4.25 2-15-2030           175,000      182,875
Containers & packaging: 1.15%            
Berry Global Incorporated   5.13 7-15-2023           100,000      102,125
Berry Global Incorporated 144A   5.63 7-15-2027           175,000      186,156
Crown Cork & Seal Company Incorporated   7.38 12-15-2026           750,000      911,250
Flex Acquisition Company Incorporated 144A   6.88 1-15-2025           900,000      914,625
Flex Acquisition Company Incorporated 144A   7.88 7-15-2026           275,000      285,230
Owens-Brockway Packaging Incorporated 144A   5.88 8-15-2023           325,000      347,750
Owens-Brockway Packaging Incorporated   6.38 8-15-2025           600,000      667,500
Silgan Holdings Incorporated   4.13 2-1-2028           750,000      778,125
               4,192,761
Metals & mining: 0.73%            
Arches Buyer Incorporated 144A   4.25 6-1-2028           160,000      159,800
Arches Buyer Incorporated 144A   6.13 12-1-2028           405,000      415,125
Cleveland-Cliffs Incorporated   5.88 6-1-2027           500,000      518,750
Cleveland-Cliffs Incorporated 144A   9.88 10-17-2025           545,000      640,855
Indalex Holdings Corporation ♦   11.50 2-1-2021   2,990,596 0
Kaiser Aluminum Corporation 144A   4.63 3-1-2028   300,000 309,456
Kaiser Aluminum Corporation 144A   6.50 5-1-2025   175,000 186,813
Novelis Corporation 144A   5.88 9-30-2026   400,000 419,000
            2,649,799
Paper & forest products: 0.38%            
Clearwater Paper Corporation 144A   5.38 2-1-2025   350,000 381,938
Clearwater Paper Corporation 144A   4.75 8-15-2028   270,000 279,369
Vertical U.S. Newco Incorporated 144A   5.25 7-15-2027   675,000 705,196
            1,366,503
Real estate: 1.47%            
Equity REITs: 1.47%            
CoreCivic Incorporated   5.00 10-15-2022   575,000 549,125
Omega HealthCare Investors Incorporated   4.50 4-1-2027   600,000 674,941
Service Properties Trust Company   3.95 1-15-2028   385,000 350,350
Service Properties Trust Company   4.75 10-1-2026   200,000 192,000
Service Properties Trust Company   4.95 2-15-2027   625,000 603,125
Service Properties Trust Company   7.50 9-15-2025   1,000,000 1,125,746
SITE Centers Corporation   4.70 6-1-2027   600,000 669,812
The Geo Group Incorporated   5.13 4-1-2023   525,000 448,875
See accompanying notes to portfolio of investments
10  |  Wells Fargo Multi-Sector Income Fund
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Equity REITs (continued)            
The Geo Group Incorporated   5.88% 1-15-2022 $         600,000 $     567,000
The Geo Group Incorporated   5.88 10-15-2024           240,000      181,200
               5,362,174
Utilities: 2.13%            
Electric utilities: 0.88%            
Evergy Incorporated   4.85 6-1-2021           750,000      752,700
NextEra Energy Operating Partners LP 144A   4.25 7-15-2024           775,000      821,578
NextEra Energy Operating Partners LP 144A   4.25 9-15-2024            16,000       17,088
NextEra Energy Operating Partners LP 144A   4.50 9-15-2027         1,250,000    1,387,500
PG&E Corporation   5.00 7-1-2028           100,000      107,287
PG&E Corporation   5.25 7-1-2030           100,000      110,000
               3,196,153
Independent power & renewable electricity
producers: 1.25% 		           
NSG Holdings LLC 144A   7.75 12-15-2025         2,296,864    2,439,970
TerraForm Power Operating LLC   4.25 1-31-2023           500,000      514,773
TerraForm Power Operating LLC 144A   4.75 1-15-2030           800,000      858,000
TerraForm Power Operating LLC 144A   5.00 1-31-2028           675,000      749,250
               4,561,993
Total Corporate bonds and notes (Cost $231,772,398)            245,297,075
Foreign corporate bonds and notes: 4.36%            
Financials: 4.36%            
Banks: 4.36%            
European Investment Bank   7.25 6-28-2021 BRL       9,000,000    1,677,931
European Investment Bank   8.00 5-5-2027 ZAR 21,000,000 1,521,997
European Investment Bank   8.38 7-29-2022 ZAR 40,000,000 2,776,595
European Investment Bank   8.75 8-18-2025 ZAR 20,000,000 1,477,421
European Investment Bank   9.00 3-31-2021 ZAR 17,400,000 1,156,764
International Bank for Reconstruction & Development   7.00 6-7-2023 ZAR 15,000,000 1,033,934
International Bank for Reconstruction & Development   7.50 6-9-2021 BRL 5,000,000 930,438
International Bank for Reconstruction & Development   8.25 6-22-2023 BRL 9,000,000 1,764,026
KfW   7.50 11-10-2022 ZAR 36,000,000 2,491,643
Landwirtschaftliche Rentenbank   8.25 5-23-2022 ZAR 15,000,000 1,027,636
Total Foreign corporate bonds and notes (Cost $18,850,509)           15,858,385
Foreign government bonds: 26.98%            
Colombia   6.25 11-26-2025 COP 15,000,000,000 4,654,159
Colombia   7.50 8-26-2026 COP 22,725,000,000 7,382,519
India   7.32 1-28-2024 INR 710,000,000 10,413,528
Indonesia   5.50 4-15-2026 IDR 50,000,000,000 3,612,259
Indonesia   7.00 9-15-2030 IDR 115,000,000,000 8,591,721
Indonesia   7.25 2-15-2026 IDR 55,000,000,000 4,231,276
Malaysia   4.23 6-30-2031 MYR 33,000,000 9,141,574
Mexico   7.75 5-29-2031 MXN 85,000,000 4,850,088
See accompanying notes to portfolio of investments
Wells Fargo Multi-Sector Income Fund  |  11
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Foreign government bonds (continued)            
Mexico   8.50% 5-31-2029 MXN     198,000,000 $  11,790,512
Republic of Trinidad and Tobago 144A   4.50 8-4-2026 TTD         750,000      813,750
Romania   3.25 4-29-2024 RON      43,700,000   11,270,810
Romania   5.00 2-12-2029 RON      20,000,000    5,851,233
Russia   6.50 2-28-2024 RUB     390,000,000    5,352,193
Russia   6.90 5-23-2029 RUB     400,000,000    5,550,159
Russia   7.65 4-10-2030 RUB     325,000,000    4,731,739
Total Foreign government bonds (Cost $93,079,745)             98,237,520
Loans: 18.83%            
Communication services: 1.63%            
Diversified telecommunication services: 0.15%            
Cablevision Lightpath LLC (1 Month LIBOR+3.25%) ±   3.75 11-30-2027 $         269,325      269,998
Frontier Communications (1 Month LIBOR+4.75%) ±   5.75 10-8-2021           270,000      269,746
                 539,744
Media: 1.24%            
Ancestry.com Incorporated (1 Month LIBOR+4.00%) ±   4.50 12-6-2027           810,000      812,746
CSC Holdings LLC (1 Month LIBOR+2.25%) ±   2.38 1-15-2026           490,000      486,786
CSC Holdings LLC (1 Month LIBOR+2.50%) ±   2.63 4-15-2027           146,644      145,820
Diamond Sports Group LLC (1 Month LIBOR+3.25%) <±   3.37 8-24-2026           165,000      140,113
Gray Television Incorporated (1 Month LIBOR+2.50%) ±   2.64 1-2-2026           488,545      487,323
Hubbard Radio LLC (3 Month LIBOR+4.25%) ±   5.25 3-28-2025         1,406,490    1,372,214
Nexstar Broadcasting Incorporated (1 Month LIBOR+2.75%) ±   2.89 9-18-2026         1,078,432    1,078,281
               4,523,283
Wireless telecommunication services: 0.24%            
Connect U.S. Finco LLC (1 Month LIBOR+4.50%) ±   5.50 12-11-2026   868,438 869,367
Consumer discretionary: 2.13%            
Auto components: 0.14%            
Belron Finance US LLC (3 Month LIBOR+2.25%) ♦±   2.46 11-7-2024   291,000 290,092
Clarios Global LP (1 Month LIBOR+3.50%) ±   3.62 4-30-2026   218,170 217,829
            507,921
Distributors: 0.65%            
Spin Holdco Incorporated (3 Month LIBOR+3.25%) ±   4.25 11-14-2022   2,385,615 2,379,962
Hotels, restaurants & leisure: 1.26%            
Carnival Corporation (1 Month LIBOR+7.50%) ±   8.50 6-30-2025   968,337 995,576
See accompanying notes to portfolio of investments
12  |  Wells Fargo Multi-Sector Income Fund
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Hotels, restaurants & leisure (continued)            
CCM Merger Incorporated (1 Month LIBOR+3.75%) ±   4.50% 11-4-2025 $       2,190,000 $   2,198,213
Montreign Operating Company LLC (1 Month LIBOR+3.25%) ±   3.37 3-22-2021         1,445,025    1,399,868
               4,593,657
Specialty retail: 0.08%            
Rent-A-Center Incorporated (1 Month LIBOR+4.50%) ♦±   4.69 8-5-2026           296,250      295,880
Energy: 1.39%            
Electric utilities: 0.42%            
ExGen Renewables IV LLC (2 Month LIBOR+2.75%) ±   3.75 12-15-2027         1,530,000    1,538,415
Oil, gas & consumable fuels: 0.97%            
Apergy Corporation (3 Month LIBOR+5.00%) ♦±   6.00 5-28-2027           555,750      565,131
Crestwood Holdings LLC (1 Month LIBOR+7.50%) ±   7.63 3-6-2023         1,794,276    1,493,735
Encino Acquisition Partners Holdings LLC (1 Month LIBOR+6.75%) ±   7.75 10-29-2025           600,000      550,500
NorthRiver Midstream Finance LP (3 Month LIBOR+3.25%) ±   3.49 10-1-2025           924,283      920,817
               3,530,183
Financials: 4.89%            
Capital markets: 1.24%            
Nexus Buyer LLC (1 Month LIBOR+3.75%) <±   3.88 11-9-2026         2,534,310    2,526,910
VFH Parent LLC (1 Month LIBOR+3.00%) ±   3.13 3-1-2026           724,443      722,631
Victory Capital Management Incorporated (3 Month LIBOR+2.50%) ±   2.74 7-1-2026         1,245,903    1,243,311
               4,492,852
Consumer finance: 0.22%            
Russell Investments (5 Month LIBOR+3.00%) <±   4.00 5-30-2025           816,259      813,965
Diversified financial services: 2.02%            
Mallinckrodt International Finance SA (3 Month LIBOR+2.75%) <±   2.95 9-24-2024   842,811 792,664
Mileage Plus Holdings LLC (3 Month LIBOR+5.25%) ±   6.25 6-25-2027   1,630,000 1,736,243
Resolute Investment Mangers Incorporated (1 Month LIBOR+3.75%) <±   8.50 4-30-2024   2,609,516 2,617,684
Resolute Investment Mangers Incorporated (3 Month LIBOR+8.00%) ±   9.01 4-30-2025   1,090,000 1,090,000
Stonepeak Lonestar Holdings LLC (3 Month LIBOR+4.50%) ±   4.73 10-19-2026   1,126,301 1,126,301
            7,362,892
Insurance: 1.37%            
AmWINS Group Incorporated (1 Month LIBOR+2.75%) ±   3.75 1-25-2024   868,029 869,704
See accompanying notes to portfolio of investments
Wells Fargo Multi-Sector Income Fund  |  13
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Insurance (continued)            
BroadStreet Partners Incorporated (1 Month LIBOR+3.25%) ±   3.37% 1-27-2027 $         494,850 $     490,110
HUB International Limited (2 Month LIBOR+2.75%) ±   2.97 4-25-2025         1,218,750    1,207,379
HUB International Limited (6 Month LIBOR+3.25%) ±   4.00 4-25-2025           808,000      809,010
Solera Holdings Incorporated (1 Month LIBOR+2.75%) ±   5.75 3-3-2023         1,057,990    1,052,626
USI Incorporated (3 Month LIBOR+3.00%) ±   3.25 5-16-2024           290,615      288,435
USI Incorporated (1 Month LIBOR+3.25%) <±   4.22 12-2-2026            40,000       40,000
USI Incorporated (3 Month LIBOR+4.00%) ±   4.25 12-2-2026           222,750      222,656
               4,979,920
Mortgage REITs: 0.04%            
Blackstone Mortgage Trust Incorporated (1 Month LIBOR+2.25%) ±   2.37 4-23-2026           147,755      147,016
Health care: 1.22%            
Health care providers & services: 0.37%            
Surgery Center Holdings Incorporated (1 Month LIBOR+3.25%) <±   4.25 9-3-2024           940,322      933,269
Team Health Holdings Incorporated (1 Month LIBOR+2.75%) ±   3.75 2-6-2024           431,674      402,536
               1,335,805
Health care technology: 0.13%            
Change Healthcare Holdings Incorporated (1 Month LIBOR+2.50%) ±   3.50 3-1-2024           464,816      464,816
Pharmaceuticals: 0.72%            
Bausch Health Companies Incorporated (1 Month LIBOR+3.00%) ±   3.12 6-2-2025         1,457,100    1,457,333
Endo Finance LLC (3 Month LIBOR+4.25%) ±   5.25 4-29-2024         1,196,303    1,185,836
               2,643,169
Industrials: 2.78%            
Aerospace & defense: 1.15%            
Spirit AeroSystems Holdings Incorporated (1 Month LIBOR+5.25%) ♦<±   0.00 1-15-2025   3,020,000 3,057,750
TransDigm Incorporated (1 Month LIBOR+2.25%) ±   2.37 8-22-2024   1,150,362 1,128,436
            4,186,186
Commercial services & supplies: 0.13%            
IAA Spinco Incorporated (1 Month LIBOR+2.25%) ♦±   2.38 6-28-2026   443,313 442,204
KAR Auction Services Incorporated (1 Month LIBOR+2.25%) ±   2.44 9-19-2026   39,597 39,350
            481,554
Construction & engineering: 0.12%            
Pike Corporation (1 Month LIBOR+3.00%) ±   3.12 1-15-2028   69,041 69,012
See accompanying notes to portfolio of investments
14  |  Wells Fargo Multi-Sector Income Fund
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Construction & engineering (continued)            
Pike Corporation (1 Month LIBOR+3.00%) ±   3.12% 1-21-2028 $          90,959 $      90,921
Pike Corporation (1 Month LIBOR+3.97%) ±   4.09 7-24-2026           257,943      257,580
                 417,513
Machinery: 0.64%            
Alliance Laundry Systems LLC (3 Month LIBOR+3.50%) ±   4.25 10-8-2027         1,150,000    1,152,875
Columbus McKinnon Corporation (3 Month LIBOR+2.50%) ±   6.00 1-31-2024           681,630      679,926
Gates Global LLC (1 Month LIBOR+2.75%) ±   3.75 4-1-2024           484,019      483,719
               2,316,520
Professional services: 0.27%            
The Dun & Bradstreet Corporation (1 Month LIBOR+3.75%) ±   3.88 2-6-2026           991,128      992,546
Road & rail: 0.21%            
Uber Technologies Incorporated (3 Month LIBOR+4.00%) <±   4.20 4-4-2025           763,043      764,234
Transportation infrastructure: 0.26%            
SkyMiles IP Limited (3 Month LIBOR+3.75%) ±   4.75 10-20-2027           910,000      951,860
Information technology: 2.44%            
Communications equipment: 0.14%            
CommScope Incorporated (1 Month LIBOR+3.25%) ±   3.37 4-6-2026           493,750      492,131
Electronic equipment, instruments &
components: 0.25% 		           
Dell International LLC (1 Month LIBOR+2.00%) ±   2.75 9-19-2025           925,803      927,034
IT services: 1.29%            
Applied Systems Incorporated (3 Month LIBOR+3.00%) ±   4.00 9-19-2024           387,843      388,126
Fiserv Investment Solutions Incorporated (3 Month LIBOR+4.75%) ±   6.44 2-18-2027         2,303,525    2,314,075
Flexential Intermediate Corporation (3 Month LIBOR+3.50%) ±   3.75 8-1-2024           228,231      205,490
Flexential Intermediate Corporation (3 Month LIBOR+7.25%) ±   7.48 8-1-2025   1,425,000 972,563
Sabre GLBL Incorporated (1 Month LIBOR+4.00%) <±   4.75 12-17-2027   790,000 797,410
            4,677,664
Software: 0.76%            
Emerald Topco Incorporated (3 Month LIBOR+3.50%) ±   3.71 7-24-2026   987,500 985,772
MPH Acquisition Holdings LLC (3 Month LIBOR+2.75%) ±   3.75 6-7-2023   371,052 370,380
Sophia LP (3 Month LIBOR+3.75%) ±   4.50 10-7-2027   1,420,000 1,423,905
            2,780,057
See accompanying notes to portfolio of investments
Wells Fargo Multi-Sector Income Fund  |  15
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Materials: 1.20%            
Containers & packaging: 0.81%            
Flex Acquisition Company Incorporated (3 Month LIBOR+3.00%) ±   3.24% 6-29-2025 $         731,075 $     725,870
Flex Acquisition Company Incorporated (3 Month LIBOR+3.00%) ±   4.00 12-29-2023           425,005      424,806
Graham Packaging Company Incorporated (1 Month LIBOR+3.75%) ±   4.50 8-4-2027           538,814      540,085
Reynolds Group Holdings Incorporated (1 Month LIBOR+2.75%) ±   2.87 2-5-2023           911,157      910,592
RING Container Technologies (1 Month LIBOR+2.75%) ±   2.87 10-31-2024           363,933      361,505
               2,962,858
Paper & forest products: 0.39%            
Clearwater Paper Corporation (6 Month LIBOR+3.00%) ±   3.24 7-26-2026            86,167       86,382
Vertical U.S. Newco Incorporated (6 Month LIBOR+4.25%) ±   4.48 7-30-2027         1,316,700    1,326,944
               1,413,326
Real estate: 0.46%            
Equity REITs: 0.46%            
The Geo Group Incorporated (1 Month LIBOR+2.00%) ±   2.75 3-22-2024         1,906,714    1,688,243
Utilities: 0.69%            
Electric utilities: 0.69%            
PG&E Corporation (PRIME+3.50%) ±   6.75 6-23-2025         2,487,500    2,507,400
Total Loans (Cost $68,003,982)             68,577,973
Non-agency mortgage-backed securities: 4.85%            
Banc of America Funding Corporation Series 2005 Class 5-1A1   5.50 9-25-2035           128,188      137,739
Banc of America Funding Corporation Series 2005 Class D-A1 ±±   3.27 5-25-2035           200,493      208,332
Banc of America Merrill Lynch Commercial Mortgage Incorporated Series 2017-BNK6 Class D 144A   3.10 7-15-2060         1,000,000      871,666
Banc of America Mortgage Securities Series 2003 Class 1A1 ±±   3.87 4-25-2033           251,267      241,363
Benchmark Mortgage Trust Series 2018-B1 Class A2   3.57 1-15-2051   195,000 203,046
Bluemountain CLO Limited Series 2015-2A Class A1R (3 Month LIBOR+0.93%)144A±   1.15 7-18-2027   407,206 407,296
Centex Home Equity Series 2002-A Class AF6   5.54 1-25-2032   12,913 13,353
Centex Home Equity Series 2004-B Class AF6   4.69 3-25-2034   3,746 3,746
Citigroup Commercial Mortgage Trust Series 2012-GC8 Class C 144A±±   4.88 9-10-2045   1,000,000 981,112
Citigroup Commercial Mortgage Trust Series 2017-MDRB Class A (1 Month LIBOR+1.10%)144A±   1.23 7-15-2030   394,694 380,388
Commercial Mortgage Trust Series 2012-CR2 Class C ±±   4.83 8-15-2045   1,000,000 995,201
See accompanying notes to portfolio of investments
16  |  Wells Fargo Multi-Sector Income Fund
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Non-agency mortgage-backed securities
(continued) 		           
Commercial Mortgage Trust Series 2012-CR4 Class B 144A   3.70% 10-15-2045 $       1,000,000 $     930,208
Commercial Mortgage Trust Series 2012-CR5 Class E 144A±±   4.32 12-10-2045         1,000,000      808,134
Commercial Mortgage Trust Series 2012-LC4 Class A4   3.29 12-10-2044           188,762      191,297
Commercial Mortgage Trust Series 2012-LC4 Class AM   4.06 12-10-2044           500,000      512,665
Commercial Mortgage Trust Series 2012-LC4 Class C ±±   5.53 12-10-2044           500,000      455,535
Commercial Mortgage Trust Series 2013-LC13 Class D 144A±±   5.29 8-10-2046         1,103,000    1,005,051
Countrywide Home Loans Series 2003-48 Class 2A2 ±±   2.72 10-25-2033            32,204       32,066
Credit Suisse First Boston Mortgage Securities Series 2002-AR25 Class 1A1 ±±   2.42 9-25-2032           272,714      268,942
Credit Suisse First Boston Mortgage Securities Series 2003-AR15 Class 3A1 ±±   3.23 6-25-2033            53,209       54,334
Credit Suisse First Boston Mortgage Securities Series 2003-AR9 Class 2A2 ±±   2.84 3-25-2033            11,470       11,591
Credit Suisse First Boston Mortgage Securities Series 2014-USA Class D 144A   4.37 9-15-2037           750,000      665,273
Crown Point Limited Series 2015-3A Class A1AR (3 Month LIBOR+0.91%)144A±   1.15 12-31-2027           140,125      140,154
Global Mortgage Securitization Limited Series 2004-A Class A2 (1 Month LIBOR+0.32%)144A±   0.45 11-25-2032            44,049       41,915
Goldman Sachs Mortgage Securities Trust Series 2010-C1 Class X 144A♀±±   0.74 8-10-2043         1,356,248        8,561
Goldman Sachs Mortgage Securities Trust Series 2012-GCJ7 Class XA ♀±±   2.04 5-10-2045         2,237,960       23,115
Goldman Sachs Mortgage Securities Trust Series 2019-GSA1 Class C ±±   3.81 11-10-2052         1,000,000    1,023,656
Goldman Sachs Mortgage Securities Trust Series 2020-DUNE Class D (1 Month LIBOR+1.90%)144A±   2.03 12-15-2036         1,000,000      926,132
GSAA Home Equity Trust Series 2004-5 Class AF5   4.28 6-25-2034               192          192
JPMorgan Chase Commercial Mortgage Securities Trust Series 2012-C6 Class E 144A±±   5.14 5-15-2045           520,000      317,227
JPMorgan Chase Commercial Mortgage Securities Trust Series 2013-C17 Class B ±±   4.89 1-15-2047            50,000       53,970
JPMorgan Mortgage Trust Series 2004-A3 Class 2A1 ±±   3.85 7-25-2034            12,416       12,717
JPMorgan Mortgage Trust Series 2004-A3 Class 3A3 ±±   2.85 7-25-2034            19,938       19,759
JPMorgan Mortgage Trust Series 2005-A3 Class 11A2 ±±   2.78 6-25-2035            89,751       89,913
MASTR Adjustable Rate Mortgage Trust Series 2003-6 Class 3A1 ±±   2.32 12-25-2033   106,742 111,812
MASTR Adjustable Rate Mortgage Trust Series 2003-6 Class 4A2 ±±   3.21 1-25-2034   5,649 6,066
MASTR Adjustable Rate Mortgage Trust Series 2004-13 Class 3A7 ±±   3.17 11-21-2034   6,083 6,286
See accompanying notes to portfolio of investments
Wells Fargo Multi-Sector Income Fund  |  17
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Non-agency mortgage-backed securities
(continued) 		           
MASTR Alternative Loans Trust Series 2005-1 Class 5A1   5.50% 3-25-2036 $             456 $         440
Mid-State Trust Series 11 Class A1   4.86 7-15-2038           131,078      140,351
MLCC Mortgage Investors Incorporated Series 2003-G Class A2 (6 Month LIBOR+0.68%)±   0.93 1-25-2029            37,326       38,031
MMAF Equipment Finance LLC Series 2017-AA Class A4 144A   2.41 8-16-2024           107,038      108,140
Morgan Stanley Bank of America Merrill Lynch Trust Series 2012-C5 Class XA 144A♀±±   1.41 8-15-2045         3,678,520       53,652
Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C10 Class D 144A±±   4.08 7-15-2046         1,000,000      456,796
Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C11 Class A4 ±±   4.15 8-15-2046           569,000      608,975
Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C7 Class D 144A±±   4.24 2-15-2046           692,000      437,577
Morgan Stanley Capital I Trust Series 2012-C4 Class C 144A±±   5.42 3-15-2045           900,000      844,727
Morgan Stanley Mortgage Loan Trust Series 2004-4 Class 2A ±±   6.32 9-25-2034            20,614       22,810
New Century Home Equity Loan Trust Series 2004-3 Class M1 (1 Month LIBOR+0.93%)±   1.06 11-25-2034           928,801      908,131
Palmer Square Loan Funding Limited Series 2019-2A Class A1 (3 Month LIBOR+0.97%)144A±   1.19 4-20-2027           243,170      243,224
Saxon Asset Securities Trust Series 2002-1 Class AF5   5.37 12-25-2030            93,731       98,021
Sequoia Mortgage Trust Series 2003-1 Class 1A (1 Month LIBOR+0.76%)±   0.89 4-20-2033             6,056        6,102
SFAVE Commercial Mortgage Securities Trust Series 2015-5AVE Class D 144A±±   4.39 1-5-2043         1,000,000      766,201
Structured Adjustable Rate Mortgage Loan Trust Series 2004-2 Class 2A ±±   2.83 3-25-2034            23,902       24,684
Terwin Mortgage Trust Series 2003-6HE Class A3 (1 Month LIBOR+1.14%)±   1.27 11-25-2033           119,628      118,387
Vendee Mortgage Trust Series 2003-2 Class IO ♀±±   0.63 5-15-2033         2,133,536       39,882
Washington Mutual Mortgage Trust Series 2004-RA4 Class 3A   7.50 7-25-2034            67,454       72,989
Wind River CLO Limited Series 2013-2A Class BR (3 Month LIBOR+1.60%)144A±   1.82 10-18-2030           500,000      500,110
Total Non-agency mortgage-backed securities (Cost $19,561,779)             17,649,043
    
      Expiration
date 		Shares  
Warrants: 0.02%            
Energy: 0.02%            
Oil, gas & consumable fuels: 0.02%            
Denbury Incorporated †     9-18-2025             9,354       56,124
Total Warrants (Cost $142,215)                 56,124
    
See accompanying notes to portfolio of investments
18  |  Wells Fargo Multi-Sector Income Fund
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Yankee corporate bonds and notes: 9.50%            
Communication services: 0.54%            
Diversified telecommunication services: 0.10%            
Telesat Canada Incorporated 144A   6.50% 10-15-2027 $         325,000 $     344,201
Media: 0.33%            
Nielsen Holding and Finance BV   5.00 2-1-2025           875,000      896,875
Nielsen Holding and Finance BV 144A   5.50 10-1-2021           112,000      112,280
Virgin Media Finance plc 144A   5.00 7-15-2030           200,000      205,906
               1,215,061
Wireless telecommunication services: 0.11%            
Connect U.S. Finco LLC 144A   6.75 10-1-2026           375,000      400,613
Energy: 1.51%            
Oil, gas & consumable fuels: 1.51%            
Baytex Energy Corporation 144A   5.63 6-1-2024         1,575,000    1,335,600
Baytex Energy Corporation 144A   8.75 4-1-2027         2,500,000    1,968,750
Griffin Coal Mining Company Limited 144A♦†   9.50 12-1-2016         1,110,230            0
Griffin Coal Mining Company Limited ♦†   9.50 12-1-2016            90,767            0
Husky Energy Incorporated   4.40 4-15-2029           750,000      840,839
Northriver Midstream Finance LP 144A   5.63 2-15-2026         1,315,000    1,346,271
               5,491,460
Financials: 2.79%            
Banks: 0.98%            
ABN AMRO Bank NV 144A   4.80 4-18-2026           750,000      874,714
Banco del Estado de Chile 144A   3.88 2-8-2022           650,000      671,124
Corporación Andina de Fomento   4.38 6-15-2022   958,000 1,006,628
NatWest Group plc (5 Year Treasury Constant Maturity+2.35%) ±   3.03 11-28-2035   1,000,000 1,004,550
            3,557,016
Capital markets: 0.19%            
Credit Suisse Group AG (5 Year Treasury Constant Maturity+3.55%) 144Aʊ±   4.50 9-3-2030   700,000 693,000
Diversified financial services: 0.82%            
Intelsat Jackson Holdings SA †   5.50 8-1-2023   4,300,000 2,988,500
Insurance: 0.80%            
Allied World Assurance Company Holdings Limited   4.35 10-29-2025   385,000 416,631
Athene Holding Limited   4.13 1-12-2028   750,000 838,265
Fairfax Financials Holdings Limited   4.85 4-17-2028   750,000 840,979
Sompo International Holdings Limited   7.00 7-15-2034   575,000 817,987
            2,913,862
Health care: 1.51%            
Pharmaceuticals: 1.51%            
Bausch Health Companies Incorporated 144A   5.50 11-1-2025   375,000 386,138
Bausch Health Companies Incorporated 144A   6.13 4-15-2025   1,940,000 1,987,646
Bausch Health Companies Incorporated 144A   7.00 1-15-2028   100,000 108,220
Bausch Health Companies Incorporated 144A   8.50 1-31-2027   375,000 415,313
See accompanying notes to portfolio of investments
Wells Fargo Multi-Sector Income Fund  |  19
Portfolio of investments—January 31, 2021 (unaudited)
    Interest
rate 		Maturity
date 		Principal Value
Pharmaceuticals (continued)            
Teva Pharmaceutical Finance Netherlands III BV   4.10% 10-1-2046 $         750,000 $     658,973
Teva Pharmaceutical Finance Netherlands III BV   6.75 3-1-2028         1,750,000    1,957,988
               5,514,278
Industrials: 2.46%            
Aerospace & defense: 0.42%            
Bombardier Incorporated 144A   7.88 4-15-2027         1,650,000    1,523,231
Airlines: 0.33%            
Air Canada Company 144A   7.75 4-15-2021         1,200,000    1,207,500
Commercial services & supplies: 0.64%            
GFL Environmental Incorporated 144A   3.50 9-1-2028           730,000      718,371
Ritchie Brothers Auctioneers Incorporated 144A   5.38 1-15-2025         1,550,000    1,594,563
               2,312,934
Electrical equipment: 0.08%            
Sensata Technologies BV 144A   5.00 10-1-2025           260,000      286,650
Industrial conglomerates: 0.06%            
Tyco Electronics Group SA   3.50 2-3-2022           225,000      230,324
Machinery: 0.07%            
Vertical Holdco GmbH 144A   7.63 7-15-2028           250,000      269,688
Metals & mining: 0.22%            
Glencore Finance Canada Limited 144A   4.25 10-25-2022           750,000      796,863
Road & rail: 0.21%            
Canadian Pacific Railway Company   4.50 1-15-2022           750,000      778,618
Trading companies & distributors: 0.43%            
FLY Leasing Limited   5.25 10-15-2024   1,610,000 1,565,725
Materials: 0.37%            
Containers & packaging: 0.37%            
Ardagh Packaging Finance plc   4.13 8-15-2026   75,000 77,344
Ardagh Packaging Finance plc 144A   5.25 4-30-2025   125,000 131,719
OI European Group BV 144A   4.00 3-15-2023   1,100,000 1,127,500
            1,336,563
Utilities: 0.32%            
Electric utilities: 0.18%            
Comision Federal de Electricidad 144A   4.88 5-26-2021   650,000 657,735
Multi-utilities: 0.14%            
Veolia Environnement SA   6.75 6-1-2038   350,000 498,024
Total Yankee corporate bonds and notes (Cost $35,920,259)           34,581,846
    
See accompanying notes to portfolio of investments
20  |  Wells Fargo Multi-Sector Income Fund
Portfolio of investments—January 31, 2021 (unaudited)
    Yield     Shares Value
Short-term investments: 4.60%            
Investment companies: 4.60%            
Wells Fargo Government Money Market Fund Select Class ♠∞##   0.03%          16,749,434 $  16,749,434
Total Short-term investments (Cost $16,749,434)             16,749,434
Total investments in securities (Cost $497,007,864) 140.07%          510,002,034
Other assets and liabilities, net (40.07)         (145,901,191)
Total net assets 100.00%         $ 364,100,843
    
± 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 interest payments received from the underlying pool of mortgages as well as the credit quality and the actual prepayment speed of the underlying mortgages.
♀ Investment in an interest-only security 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.
† Non-income-earning security
♦ The security is fair valued in accordance with procedures approved by the Board of Trustees.
< All or a portion of the position represents an unfunded loan commitment. The rate represents current interest rate if the loan is partially funded.
## All or a portion of this security is segregated for when-issued and unfunded loans.
♠ 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.
%% The security is purchased on a when-issued basis.
ʊ Security is perpetual in nature and has no stated maturity date. The date shown reflects the next call date.
    
Abbreviations:
BRL Brazilian real
COP Colombian peso
FHLMC Federal Home Loan Mortgage Corporation
FNMA Federal National Mortgage Association
GNMA Government National Mortgage Association
IDR Indonesian rupiah
INR Indian Rupee
LIBOR London Interbank Offered Rate
MXN Mexican peso
MYR Malaysian ringgit
National National Public Finance Guarantee Corporation
RON Romanian lei
RUB Russian ruble
SOFR Secured Overnight Financing Rate
TTD Trinidad and Tobago Dollar
ZAR South African rand
See accompanying notes to portfolio of investments
Wells Fargo Multi-Sector Income Fund  |  21
Portfolio of investments—January 31, 2021 (unaudited)
Investments in affiliates
An affiliated investment is an investment in which the Fund owns at least 5% of the outstanding voting shares of the issuer or as a result of other relationships, such as the Fund and the issuer having the same investment manager. Transactions with issuers that were either affiliated persons of the Fund at the beginning of the period or 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 		% of
net
assets 		Shares,
end
of period 		Income
from
affiliated
securities
Short-term investments                  
Investment companies                  
Wells Fargo Government Money Market Fund Select Class $6,300,394 $39,724,243 $(29,275,203) $0 $0 $16,749,434 4.60% 16,749,434 $701
See accompanying notes to portfolio of investments
22  |  Wells Fargo Multi-Sector Income Fund
Notes to portfolio of investments—January 31, 2021 (unaudited)
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.
Equity securities 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. If no sale occurs on the principal exchange or market that day, a fair value price will be determined in accordance with the Fund’s Valuation Procedures.
The values of securities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Wells Fargo Asset Management Pricing Committee at Wells Fargo Funds Management, LLC.
Investments in registered open-end investment companies are valued at net asset value.
Investments which are not valued using any of the methods discussed above are valued at their fair value, as determined in good faith by the Board of Trustees. The Board of Trustees has established a Valuation Committee comprised of the Trustees and has delegated to it the authority to take any actions regarding the valuation of portfolio securities that the Valuation Committee deems necessary or appropriate, including determining the fair value of portfolio securities, unless the determination has been delegated to the Wells Fargo Asset Management Pricing Committee. The Board of Trustees retains the authority to make or ratify any valuation decisions or approve any changes to the Valuation Procedures as it deems appropriate. On a quarterly basis, the Board of Trustees receives reports on any valuation actions taken by the Valuation Committee or the Wells Fargo Asset Management Pricing Committee which may include items for ratification.
Foreign currency translation
The accounting records of the Fund are maintained in U.S. dollars. The values of other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Wells Fargo Asset Management Pricing Committee. Purchases and sales of securities, and income and expenses are converted at the rate of exchange on the respective dates of such transactions. Net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the U.S. dollar equivalent of the amounts actually paid or received. Net unrealized foreign exchange gains and losses arise from changes in the fair value of assets and liabilities other than investments in securities resulting from changes in exchange rates. The changes in net assets arising from changes in exchange rates of securities and the changes in net assets resulting from changes in market prices of securities are not separately presented. Such changes are included in net realized and unrealized gains or losses from investments.
When-issued transactions
The Fund may purchase securities on a forward commitment or when-issued basis. The Fund records a when-issued transaction on the trade date and will segregate assets in an amount at least equal in value to the Fund's commitment to purchase when-issued securities. Securities purchased on a when-issued basis are marked-to-market daily and the Fund begins earning interest on the settlement date. Losses may arise due to changes in the market value of the underlying securities or if the counterparty does not perform under the contract.
Loans
The Fund may invest in direct debt instruments which are interests in amounts owed to lenders by corporate or other borrowers. The loans pay interest at rates which are periodically reset by reference to a base lending rate plus a spread. Investments in loans may be in the form of participations in loans or assignments of all or a portion of loans from third parties. When the Fund purchases participations, it generally has no rights to enforce compliance with the terms of the loan agreement with the borrower. As a result, the Fund assumes the credit risk of both the borrower and the lender that is selling the participation. When the Fund purchases assignments from lenders, it acquires direct rights against the borrower on the loan and may enforce compliance by the borrower with the terms of the loan agreement. Loans may include fully funded term loans or unfunded loan commitments, which are contractual obligations for future funding.
As of January 31, 2021, the Fund had unfunded loan commitments of $5,550,854.
Wells Fargo Multi-Sector Income Fund  |  23
Notes to portfolio of investments—January 31, 2021 (unaudited)
Fair valuation measurements
Fair value measurements of investments are determined within a framework that has established a fair value hierarchy based upon the various data inputs utilized in determining the value of the Fund’s investments. The three-level hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The Fund’s investments are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement. The inputs are summarized into three broad levels as follows:
■ Level 1 – quoted prices in active markets for identical securities
■ Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
■ Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The inputs or methodologies used for valuing investments in securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used in valuing the Fund’s assets and liabilities as of January 31, 2021:
  Quoted prices
(Level 1) 		Other significant
observable inputs
(Level 2) 		Significant
unobservable inputs
(Level 3) 		Total
Assets        
Investments in:        
Agency securities $0 $3,457,315 $0 $3,457,315
Asset-backed securities 0 2,092,627 0 2,092,627
Common stocks        
Energy 7,444,692 0 0 7,444,692
Corporate bonds and notes 0 245,297,075 0 245,297,075
Foreign corporate bonds and notes 0 15,858,385 0 15,858,385
Foreign government bonds 0 98,237,520 0 98,237,520
Loans 0 59,335,440 9,242,533 68,577,973
Non-agency mortgage-backed securities 0 17,649,043 0 17,649,043
Warrants 0 56,124 0 56,124
Yankee corporate bonds and notes 0 34,581,846 0 34,581,846
Short-term investments        
Investment companies 16,749,434 0 0 16,749,434
Total assets $24,194,126 $476,565,375 $9,242,533 $510,002,034
Additional sector, industry or geographic detail, if any, is included in the Portfolio of Investments.
The following is a reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value:
  Loans
Balance as of October 31, 2020 $5,577,354
Accrued discounts (premiums) 1,670
Realized loss (23,647)
Change in unrealized gains (losses) 128,240
Purchases 5,661,000
Sales (3,629,869)
Transfer into Level 3 4,715,019
Transfer out of Level 3 (3,187,234)
Balance as of January 31, 2021 9,242,533
Change in unrealized gains (losses) relating to securities still held at January 31, 2021 $11,109
24  |  Wells Fargo Multi-Sector Income Fund
Notes to portfolio of investments—January 31, 2021 (unaudited)
The investment type categorized above was valued using indicative broker quotes. These indicative broker quotes are considered Level 3 inputs. Quantitative unobservable inputs used by the brokers are often proprietary and not provided to the Fund and therefore the disclosure that would address these inputs is not included above.
Wells Fargo Multi-Sector Income Fund  |  25