# EDGAR Filing Document

**Accession Number:** 0001611331
**File Stem:** 0001193125-26-134225
**Filing Date:** 2026-3
**Character Count:** 141027
**Document Hash:** b0be042c385bbe36eed1959614d58702
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-134225.hdr.sgml**: 20260331

**ACCESSION NUMBER**: 0001193125-26-134225

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 21

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260331

**DATE AS OF CHANGE**: 20260331

**EFFECTIVENESS DATE**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALLSPRING EXCHANGE-TRADED FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001611331

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23597
- **FILM NUMBER:** 26820939

**BUSINESS ADDRESS:**
- **STREET 1:** 1415 VANTAGE PARK DRIVE
- **STREET 2:** 3RD FLOOR
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28203
- **BUSINESS PHONE:** 833-568-4255

**MAIL ADDRESS:**
- **STREET 1:** 1415 VANTAGE PARK DRIVE
- **STREET 2:** 3RD FLOOR
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Allspring Exchange-Traded Funds Trust
- **DATE OF NAME CHANGE:** 20211206

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Wells Fargo Exchange-Traded Funds Trust
- **DATE OF NAME CHANGE:** 20140619

## Series and Classes Contracts Data

### Allspring LT Large Core ETF (Series ID: S000088479)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000254756 | Allspring LT Large Core ETF | ALRG            |

### Allspring LT Large Growth ETF (Series ID: S000088480)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000254757 | Allspring LT Large Growth ETF | AGRW            |

### Allspring Special Large Value ETF (Series ID: S000088481)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000254758 | Allspring Special Large Value ETF | ASLV            |

?xml version='1.0' encoding='ASCII'? N-CSRS

![LOGO](g69856g0328072132879.jpg)

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM N-CSRS

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED

#### MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number: 811-23597

## Allspring Exchange-Traded Funds Trust

#### (Exact name of registrant as specified in charter)

#### 1415 Vantage Park Drive, 3<sup>rd</sup> Floor, Charlotte, NC 28203

#### (Address of principal executive offices) (Zip code)

#### Matthew Prasse

#### Allspring Funds Management, LLC

#### 1415 Vantage Park Drive, 3<sup>rd</sup> Floor, Charlotte, NC 28203

#### (Name and address of agent for service)

#### Registrant's telephone number, including area code: 800-222-8222

#### Date of fiscal year end: July 31
**Registrant is making a filing for 3 of its series:** Allspring LT Large Core ETF, Allspring LT Large Growth ETF, and Allspring Special Large Value ETF.

#### Date of reporting period: January 31, 2026

------

<u>ITEM 1. REPORT TO STOCKHOLDERS</u>![Image](g69856i5b115b0264117958dcf3.jpg)

Semi-Annual Shareholder Report

# LT Large Core ETF (ALRG)

# January 31, 2026

## Principal Listing Exchange: NYSE Arca, Inc.
This semi-annual shareholder report contains important information about LT Large Core ETF for the period from August 1, 2025 to January 31, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-866-701-2575.

## What were the Fund costs for the past 6 months?
The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| LT Large Core ETF | $15 | 0.28%<sup>Footnote Reference1</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>1</sup> | &nbsp;&nbsp;Annualized |

---

Pursuant to a unitary fee arrangement between the Fund and the Manager, the Manager has agreed to pay all expenses incurred by, and appropriately allocated to, the Fund, excluding only: the management fee payable to the Manager and certain other expenses. Please see the prospectus for the annual unitary fee and more details on excluded expenses.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $7064151 |
| # of portfolio holdings | 47 |
| Portfolio turnover rate | 3% |
| Total advisory fees paid | $10205 |

---

## What did the Fund invest in?

### SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Information technology | 35.8 |
| Financials | 14.6 |
| Industrials | 11.7 |
| Communication services | 11.5 |
| Consumer discretionary | 11.4 |
| Health care | 7.1 |
| Energy | 4.5 |
| Consumer staples | 2.5 |
| Materials | 0.9 |

---

### TOP TEN HOLDINGS (% OF NET ASSETS)

---

| | |
|:---|:---|
| Apple, Inc. | 7.9 |
| Microsoft Corp. | 7.3 |
| Alphabet, Inc. Class C | 6.2 |
| Amazon.com, Inc. | 5.1 |
| Broadcom, Inc. | 4.5 |
| Meta Platforms, Inc. Class A | 3.8 |
| NVIDIA Corp. | 3.0 |
| JPMorgan Chase & Co. | 2.9 |
| Eli Lilly & Co. | 2.7 |
| Suncor Energy, Inc. | 2.4 |

---

## For more information
You can find additional information on the Fund's website at allspringglobal.com, including its:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **-** Prospectus **-** Financial Information **-** Fund holdings **-** Proxy voting information

#### SARALRG 01-26
![Image](g69856i5b115b0264117958dcf3.jpg)

Semi-Annual Shareholder Report

# LT Large Growth ETF (AGRW)

# January 31, 2026

## Principal Listing Exchange: NYSE Arca, Inc.
This semi-annual shareholder report contains important information about LT Large Growth ETF for the period from August 1, 2025 to January 31, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-866-701-2575.

## What were the Fund costs for the past 6 months?
The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| LT Large Growth ETF | $18 | 0.35%<sup>Footnote Reference1</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>1</sup> | &nbsp;&nbsp;Annualized |

---

Pursuant to a unitary fee arrangement between the Fund and the Manager, the Manager has agreed to pay all expenses incurred by, and appropriately allocated to, the Fund, excluding only: the management fee payable to the Manager and certain other expenses. Please see the prospectus for the annual unitary fee and more details on excluded expenses.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $113991202 |
| # of portfolio holdings | 46 |
| Portfolio turnover rate | 2% |
| Total advisory fees paid | $227252 |

---

## What did the Fund invest in?

### SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Information technology | 48.1 |
| Communication services | 14.8 |
| Health care | 10.7 |
| Consumer discretionary | 9.4 |
| Industrials | 8.1 |
| Financials | 6.6 |
| Materials | 1.2 |
| Consumer staples | 1.1 |

---

### TOP TEN HOLDINGS (% OF NET ASSETS)

---

| | |
|:---|:---|
| NVIDIA Corp. | 15.4 |
| Microsoft Corp. | 7.6 |
| Alphabet, Inc. Class C | 7.3 |
| Amazon.com, Inc. | 6.5 |
| Apple, Inc. | 6.4 |
| Broadcom, Inc. | 4.8 |
| Meta Platforms, Inc. Class A | 4.7 |
| Visa, Inc. Class A | 2.4 |
| Eli Lilly & Co. | 2.2 |
| Arista Networks, Inc. | 2.0 |

---

## For more information
You can find additional information on the Fund's website at allspringglobal.com, including its:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **-** Prospectus **-** Financial Information **-** Fund holdings **-** Proxy voting information

#### SARAGRW 01-26
![Image](g69856i5b115b0264117958dcf3.jpg)

Semi-Annual Shareholder Report

# Special Large Value ETF (ASLV)

# January 31, 2026

## Principal Listing Exchange: NYSE Arca, Inc.
This semi-annual shareholder report contains important information about Special Large Value ETF for the period from August 1, 2025 to January 31, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-866-701-2575.

#### This report describes changes to the Fund that occurred either during or after the reporting period.

## What were the Fund costs for the past 6 months?
The table explains the costs you would have paid within the reporting period based on a hypothetical $10,000 investment.

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Special Large Value ETF | $19 | 0.35%<sup>Footnote Reference1</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>1</sup> | &nbsp;&nbsp;Annualized |

---

Pursuant to a unitary fee arrangement between the Fund and the Manager, the Manager has agreed to pay all expenses incurred by, and appropriately allocated to, the Fund, excluding only: the management fee payable to the Manager and certain other expenses. Please see the prospectus for the annual unitary fee and more details on excluded expenses.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $250044985 |
| # of portfolio holdings | 46 |
| Portfolio turnover rate | 19% |
| Total advisory fees paid | $467728 |

---

## What did the Fund invest in?

### SECTOR ALLOCATION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Financials | 20.1 |
| Health care | 13.9 |
| Industrials | 13.7 |
| Information technology | 11.1 |
| Consumer discretionary | 9.8 |
| Consumer staples | 7.2 |
| Energy | 6.4 |
| Materials | 5.7 |
| Communication services | 5.6 |
| Utilities | 4.0 |
| Real estate | 2.5 |

---

### TOP TEN HOLDINGS (% OF NET ASSETS)

---

| | |
|:---|:---|
| Alphabet, Inc. Class C | 5.6 |
| NextEra Energy, Inc. | 4.0 |
| Intercontinental Exchange, Inc. | 3.8 |
| Bank of America Corp. | 3.5 |
| Capital One Financial Corp. | 3.5 |
| Canadian Pacific Kansas City Ltd. | 3.4 |
| Amazon.com, Inc. | 3.3 |
| Exxon Mobil Corp. | 3.1 |
| Berkshire Hathaway, Inc. Class B | 3.1 |
| Labcorp Holdings, Inc. | 2.9 |

---

## Significant fund changes
This is a summary of certain changes and planned changes to the Fund since August 1, 2025.

James M. Tringas, CFA, will transition to a new role with Allspring Global Investments, LLC on December 31, 2026 and will no longer serve as a portfolio manager of the Fund as of this date.

## For more information
You can find additional information on the Fund's website at allspringglobal.com, including its:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **-** Prospectus **-** Financial Information **-** Fund holdings **-** Proxy voting information

#### SARASLV 01-26

------

<u>ITEM 2. CODE OF ETHICS</u> 

Not applicable.

<u>ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT</u> 

Not applicable.

<u>ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES</u> 

Not applicable.

<u>ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS</u> 

Not applicable.

<u>ITEM 6. INVESTMENTS</u> 

(a) The registrant's Schedule of Investments is included as part of the Financial Statements filed under Item 7(a) of this Form.

(b) Not Applicable due to no such divestments during the semi-annual period covered since the previous Form N-CSR filing.

<u>ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES</u> 

(a) The registrant's Financial Statements are attached herewith.

(b) The registrant's Financial Highlights are included as part of the Financial Statements filed under Item 7(a) of this Form.

------

![](g69856img9aa182cd1.jpg)

Allspring LT Large Core ETF (ALRG)

Long Form Financial Statements

Semi-Annual Report

January 31, 2026

------

Contents

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **[Portfolio of investments](#xx_104add85-42b3-4152-b265-1f47ffadd1ea_POI-PageBlank-1095_1)** | 2 |
| **[Item 7. Financial statements and financial highlights](#xx_104add85-42b3-4152-b265-1f47ffadd1ea_FS-PageBlank-1095_1)** |  |
| [Statement of assets and liabilities](#xx_104add85-42b3-4152-b265-1f47ffadd1ea_FS-PageBlank-1095_1) | 5 |
| [Statement of operations](#xx_104add85-42b3-4152-b265-1f47ffadd1ea_FS-PageBlank-1095_2) | 6 |
| [Statement of changes in net assets](#xx_104add85-42b3-4152-b265-1f47ffadd1ea_FS-PageBlank-1095_3) | 7 |
| [Financial highlights](#xx_104add85-42b3-4152-b265-1f47ffadd1ea_FIHI-PageBlank-1095_1) | 8 |
| **[Notes to financial statements](#xx_104add85-42b3-4152-b265-1f47ffadd1ea_NTF-PageBlank-1095_1)** | 9 |
| **[Other information](#xx_104add85-42b3-4152-b265-1f47ffadd1ea_OI-PageBlank-1095_1)** | 13 |
| [Item 8. Changes in and disagreements with accountants](#xx_104add85-42b3-4152-b265-1f47ffadd1ea_OI-PageBlank-1095_2) | 14 |
| [Item 9. Matters submitted to fund shareholders for a vote](#xx_104add85-42b3-4152-b265-1f47ffadd1ea_OI-PageBlank-1095_2) | 14 |
| [Item 10. Remuneration paid to directors, officers and others](#xx_104add85-42b3-4152-b265-1f47ffadd1ea_OI-PageBlank-1095_2) | 14 |
| [Item 11. Statement regarding basis for board](#xx_104add85-42b3-4152-b265-1f47ffadd1ea_OI-PageBlank-1095_2)['](#xx_104add85-42b3-4152-b265-1f47ffadd1ea_OI-PageBlank-1095_2)[s approval of investment](#xx_104add85-42b3-4152-b265-1f47ffadd1ea_OI-PageBlank-1095_2)<br> [advisory contract](#xx_104add85-42b3-4152-b265-1f47ffadd1ea_OI-PageBlank-1095_2)<br>| 14 |

---

Allspring LT Large Core ETF \| 1

------

Portfolio of investments—January 31, 2026 (unaudited)

Portfolio of investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Common stocks: 98.69%** |  |  |
| **Communication services: 11.35%** |  |  |
| **Entertainment: 1.36%** |  |  |
| Netflix, Inc.† | 1149 | &nbsp;&nbsp; **$95930** |
| **Interactive media & services: 9.99%** |  |  |
| Alphabet, Inc. Class C | 1290 | &nbsp;&nbsp; 436704 |
| Meta Platforms, Inc. Class A | 376 | &nbsp;&nbsp; 269404 |
|  |  | &nbsp;&nbsp; **706108** |
| **Consumer discretionary: 11.29%** |  |  |
| **Broadline retail: 5.12%** |  |  |
| Amazon.com, Inc.† | 1510 | &nbsp;&nbsp; **361343** |
| **Hotels, restaurants & leisure: 4.00%** |  |  |
| Hilton Worldwide Holdings, Inc. | 387 | &nbsp;&nbsp; 115524 |
| McDonald's Corp. | 326 | &nbsp;&nbsp; 102690 |
| Starbucks Corp. | 696 | &nbsp;&nbsp; 63997 |
|  |  | &nbsp;&nbsp; **282211** |
| **Household durables: 0.91%** |  |  |
| Garmin Ltd. | 320 | &nbsp;&nbsp; **64525** |
| **Specialty retail: 1.26%** |  |  |
| Home Depot, Inc. | 238 | &nbsp;&nbsp; **89152** |
| **Consumer staples: 2.43%** |  |  |
| **Consumer staples distribution & retail: 1.11%** |  |  |
| Walmart, Inc. | 660 | &nbsp;&nbsp; **78632** |
| **Food products: 1.32%** |  |  |
| Mondelez International, Inc. Class A | 1591 | &nbsp;&nbsp; **93026** |
| **Energy: 4.47%** |  |  |
| **Oil, gas & consumable fuels: 4.47%** |  |  |
| Suncor Energy, Inc. | 3177 | &nbsp;&nbsp; 168286 |
| TotalEnergies SE | 2040 | &nbsp;&nbsp; 147696 |
|  |  | &nbsp;&nbsp; **315982** |
| **Financials: 14.41%** |  |  |
| **Banks: 6.24%** |  |  |
| Citigroup, Inc. | 1380 | &nbsp;&nbsp; 159680 |
| JPMorgan Chase & Co. | 679 | &nbsp;&nbsp; 207699 |
| PNC Financial Services Group, Inc. | 327 | &nbsp;&nbsp; 73019 |
|  |  | &nbsp;&nbsp; **440398** |
| **Capital markets: 3.22%** |  |  |
| BlackRock, Inc. | 97 | &nbsp;&nbsp; 108537 |
| Blackstone, Inc. | 836 | &nbsp;&nbsp; 119063 |
|  |  | &nbsp;&nbsp; **227600** |

---

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

2 \| Allspring LT Large Core ETF

------

Portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Financial services: 2.15%** |  |  |
| Visa, Inc. Class A | 472 | &nbsp;&nbsp; **$151904** |
| **Insurance: 2.80%** |  |  |
| Manulife Financial Corp. | 2832 | &nbsp;&nbsp; 107928 |
| Marsh & McLennan Cos., Inc. | 479 | &nbsp;&nbsp; 90143 |
|  |  | &nbsp;&nbsp; **198071** |
| **Health care: 7.00%** |  |  |
| **Biotechnology: 1.68%** |  |  |
| AbbVie, Inc. | 532 | &nbsp;&nbsp; **118641** |
| **Health care equipment & supplies: 1.04%** |  |  |
| Abbott Laboratories | 675 | &nbsp;&nbsp; **73778** |
| **Life sciences tools & services: 1.55%** |  |  |
| Thermo Fisher Scientific, Inc. | 189 | &nbsp;&nbsp; **109357** |
| **Pharmaceuticals: 2.73%** |  |  |
| Eli Lilly & Co. | 186 | &nbsp;&nbsp; **192910** |
| **Industrials: 11.54%** |  |  |
| **Aerospace & defense: 4.45%** |  |  |
| Boeing Co.† | 686 | &nbsp;&nbsp; 160332 |
| RTX Corp. | 768 | &nbsp;&nbsp; 154314 |
|  |  | &nbsp;&nbsp; **314646** |
| **Commercial services & supplies: 1.61%** |  |  |
| Waste Management, Inc. | 513 | &nbsp;&nbsp; **114009** |
| **Electrical equipment: 1.44%** |  |  |
| Eaton Corp. PLC | 290 | &nbsp;&nbsp; **101912** |
| **Ground transportation: 2.66%** |  |  |
| Uber Technologies, Inc.† | 1303 | &nbsp;&nbsp; 104305 |
| Union Pacific Corp. | 354 | &nbsp;&nbsp; 83226 |
|  |  | &nbsp;&nbsp; **187531** |
| **Machinery: 1.38%** |  |  |
| Xylem, Inc. | 705 | &nbsp;&nbsp; **97198** |
| **Information technology: 35.32%** |  |  |
| **Communications equipment: 1.48%** |  |  |
| Motorola Solutions, Inc. | 259 | &nbsp;&nbsp; **104258** |
| **Electronic equipment, instruments & components: 2.59%** |  |  |
| Keysight Technologies, Inc.† | 445 | &nbsp;&nbsp; 96267 |
| TE Connectivity PLC | 390 | &nbsp;&nbsp; 86884 |
|  |  | &nbsp;&nbsp; **183151** |
| **Semiconductors & semiconductor equipment: 14.28%** |  |  |
| Advanced Micro Devices, Inc.† | 515 | &nbsp;&nbsp; 121916 |

---

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

Allspring LT Large Core ETF \| 3

------

Portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Semiconductors & semiconductor equipment**(continued) |  |  |
| Analog Devices, Inc. | 348 | &nbsp;&nbsp; $108186 |
| ASML Holding NV | 84 | &nbsp;&nbsp; 119532 |
| Broadcom, Inc. | 962 | &nbsp;&nbsp; 318711 |
| Lam Research Corp. | 553 | &nbsp;&nbsp; 129103 |
| NVIDIA Corp. | 1105 | &nbsp;&nbsp; 211199 |
|  |  | &nbsp;&nbsp; **1008647** |
| **Software: 9.05%** |  |  |
| Adobe, Inc.† | 164 | &nbsp;&nbsp; 48093 |
| Microsoft Corp. | 1193 | &nbsp;&nbsp; 513336 |
| Salesforce, Inc. | 367 | &nbsp;&nbsp; 77910 |
|  |  | &nbsp;&nbsp; **639339** |
| **Technology hardware, storage & peripherals: 7.92%** |  |  |
| Apple, Inc. | 2157 | &nbsp;&nbsp; **559698** |
| **Materials: 0.88%** |  |  |
| **Chemicals: 0.88%** |  |  |
| Ecolab, Inc. | 220 | &nbsp;&nbsp; **62038** |
| **Total common stocks (Cost $6,256,002)** |  | &nbsp;&nbsp; **6971995** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | Yield |  |  |
| **Short-term investments: 1.28%** |  |  |  |  |
| **Investment companies: 1.28%** |  |  |  |  |
| Allspring Government Money Market Fund Select Class♠∞ |  | 3.63<br> %<br>| 90331 | &nbsp;&nbsp; **90331** |
| **Total short-term investments (Cost $90,331)** |  |  |  | &nbsp;&nbsp; **90331** |
| **Total investments in securities (Cost $6,346,333)** | 99.97<br> %<br>|  |  | &nbsp;&nbsp; 7062326 |
| Other assets and liabilities, net | 0.03 |  |  | &nbsp;&nbsp; 1825 |
| **Total net assets** | **100.00%**<br>|  |  | &nbsp;&nbsp; **$7064151** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

† Non-income-earning security <br> ♠ The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. <br> ∞ The rate represents the 7-day annualized yield at period end.

**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, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| Allspring Government Money Market Fund Select Class | $63115 | $404602 | $(377386)<br>| $0 | $0 | $90331 | 90331 | $1271 |

---

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

4 \| Allspring LT Large Core ETF

------

Statement of assets and liabilities—January 31, 2026 (unaudited)

Financial statements

Statement of assets and liabilities

---

| | |
|:---|:---|
| Assets |  |
| Investments in unaffiliated securities, at value (cost $6,256,002) | $6971995 |
| Investments in affiliated securities, at value (cost $90,331) | 90331 |
| Receivable for dividends | 3581 |
| **Total assets** | **7065907** |
| Liabilities |  |
| Management fee payable | 1756 |
| **Total liabilities** | **1756** |
| **Total net assets**  | **$7064151** |
| Net assets consist of |  |
| Paid-in capital | $6157377 |
| Total distributable earnings | 906774 |
| **Total net assets** | **$7064151** |
| Net asset value per share |  |
| Based on $7,064,151 divided by 252,000 shares issued and outstanding (unlimited number of shares authorized) | $28.03 |

---

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

Allspring LT Large Core ETF \| 5

------

Statement of operations—six months ended January 31, 2026 (unaudited)

Statement of operations

---

| | |
|:---|:---|
| Investment income |  |
| Dividends (net of foreign withholdings taxes of $1,798) | $41737 |
| Income from affiliated securities | 1271 |
| Interest | 9 |
| **Total investment income** | **43017** |
| Expenses |  |
| Management fee | 10205 |
| **Total expenses** | **10205** |
| **Net investment income** | **32812** |
| Realized and unrealized gains (losses) on investments |  |
| Net realized gains (losses) on |  |
| Unaffiliated securities | (2287)<br>|
| Unaffiliated in-kind redemptions | 193468 |
| Foreign currency and foreign currency translations | 14 |
| **Net realized gains on investments**  | **191195** |
| **Net change in unrealized gains (losses) on investments** | **514423** |
| **Net realized and unrealized gains (losses) on investments** | **705618** |
| **Net increase in net assets resulting from operations** | **$738430** |

---

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

6 \| Allspring LT Large Core ETF

------

Statement of changes in net assets

Statement of changes in net assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six months ended<br> January 31, 2026<br> (unaudited) | Six months ended<br> January 31, 2026<br> (unaudited) | Year ended<br> July 31, 2025<sup>1</sup> | Year ended<br> July 31, 2025<sup>1</sup> |
| Operations |  |  |  |  |
| Net investment income |  | &nbsp;&nbsp; $32812 |  | &nbsp;&nbsp; $943 |
| Net realized gains (losses) on investments |  | &nbsp;&nbsp; 191195 |  | &nbsp;&nbsp; (1434)<br>|
| Net change in unrealized gains (losses) on investments |  | &nbsp;&nbsp; 514423 |  | &nbsp;&nbsp; 201570 |
| **Net increase in net assets resulting from operations** |  | &nbsp;&nbsp; **738430** |  | &nbsp;&nbsp; **201079** |
| Distributions to shareholders from |  |  |  |  |
| Net investment income and net realized gains |  | &nbsp;&nbsp; (32735)<br>|  | &nbsp;&nbsp; 0 |
| Capital share transactions | Shares |  | &nbsp;&nbsp; Shares |  |
| Proceeds from shares sold | 126000 | &nbsp;&nbsp; 3433568 | &nbsp;&nbsp; 315001 | &nbsp;&nbsp; 7807333 |
| Payment for shares redeemed | (189000)<br>| &nbsp;&nbsp; (5083499)<br>| &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; (25)<br>|
| **Net increase (decrease) in net assets resulting from capital share transactions** |  | &nbsp;&nbsp; **(1649931)**<br>|  | &nbsp;&nbsp; **7807308** |
| **Total increase (decrease) in net assets** |  | &nbsp;&nbsp; **(944236)**<br>|  | &nbsp;&nbsp; **8008387** |
| Net assets |  |  |  |  |
| **Beginning of period** |  | &nbsp;&nbsp; **8008387** |  | &nbsp;&nbsp; **0** |
| **End of period** |  | &nbsp;&nbsp; **$7064151** |  | &nbsp;&nbsp; **$8008387** |

---

<sup>1</sup> For the period from July 7, 2025 (commencement of operations) to July 31, 2025

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

Allspring LT Large Core ETF \| 7

------

Financial highlights

Financial highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Six months ended <br>January 31, 2026 <br>(unaudited) | Year ended July 31 |
|  | Six months ended <br>January 31, 2026 <br>(unaudited) | 2025<sup>1</sup> <br>|
| **Net asset value, beginning of period** | **$25.42** | &nbsp;&nbsp; **$24.80** |
| Net investment income | 0.12 <br><sup>2</sup><br>| 0.00 <br><sup>23</sup><br>|
| Net realized and unrealized gains (losses) on investments | 2.62 | 0.62 |
| Total from investment operations | 2.74 | 0.62 |
| **Distributions to shareholders from** |  |  |
| Net investment income | (0.13)<br>| 0.00 |
| **Net asset value, end of period** | **$28.03** | &nbsp;&nbsp; **$25.42** |
| **Total return**<sup>4</sup> <br>| **10.79%**<br>| **2.50%**<br>|
| **Ratios to average net assets (annualized)** |  |  |
| Expenses | 0.28<br> %<br>| 0.28<br> %<br>|
| Net investment income | 0.90<br> %<br>| 0.19<br> %<br>|
| **Supplemental data** |  |  |
| Portfolio turnover rate<sup>5</sup> <br>| 3<br> %<br>| &nbsp;&nbsp; 2<br> %<br>|
| Net assets, end of period (000s omitted) | $7064 | &nbsp;&nbsp; $8008 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>1</sup> For the period from July 7, 2025 (commencement of operations) to July 31, 2025

<sup>2</sup> Calculated based upon average shares outstanding

<sup>3</sup> Amount is less than $0.005.

<sup>4</sup> Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. 

<sup>5</sup> Portfolio turnover rate excludes in-kind transactions, if any.

8 \|

------

Notes to financial statements (unaudited)

Notes to financial statements

1. ORGANIZATION

Allspring Exchange-Traded Funds Trust (the "Trust"), a Delaware statutory trust organized on June 19, 2014, is an open-end management investment company registered under the Investment Company Act of 1940, as amended ("1940 Act"). As an investment company, the Trust follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*. These financial statements report on the Allspring LT Large Core ETF (the "Fund") which is a non-diversified series of the Trust.

2. SIGNIFICANT ACCOUNTING POLICIES

The following significant accounting policies, which are consistently followed in the preparation of the financial statements of the Fund, are in conformity with U.S. generally accepted accounting principles ("GAAP") which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

Securities valuation

All investments are valued each business day as of the close of regular trading on the New York Stock Exchange (generally 4 p.m. Eastern Time), although the Fund may deviate from this calculation time under unusual or unexpected circumstances.

Equity securities and exchange-traded funds that are listed on a foreign or domestic exchange or market are valued at the official closing price or, if none, the last sales price.

The values of securities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee at Allspring Funds Management, LLC ("Allspring Funds Management").

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 ("NAV").

Investments which are not valued using the methods discussed above are valued at their fair value, as determined in good faith by Allspring Funds Management, which was named the valuation designee by the Board of Trustees. As the valuation designee, Allspring Funds Management is responsible for day-to-day valuation activities for the Allspring Funds. In connection with these responsibilities, Allspring Funds Management has established a Valuation Committee and has delegated to it the authority to take any actions regarding the valuation of portfolio securities that the Valuation Committee deems necessary or appropriate, including determining the fair value of portfolio securities. On a quarterly basis, the Board of Trustees receives reports of valuation actions taken by the Valuation Committee. On at least an annual basis, the Board of Trustees receives an assessment of the adequacy and effectiveness of Allspring Funds Management's process for determining the fair value of the portfolio of investments.

Foreign currency translation

The accounting records of the Fund are maintained in U.S. dollars. The values of other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee. Purchases and sales of securities, and income and expenses are converted at the rate of exchange on the respective dates of such transactions. Net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the U.S. dollar equivalent of the amounts actually paid or received. Net unrealized foreign exchange gains and losses arise from changes in the fair value of assets and liabilities other than investments in securities resulting from changes in exchange rates. The changes in net assets arising from changes in exchange rates of securities and the changes in net assets resulting from changes in market prices of securities are not separately presented. Such changes are included in net realized and unrealized gains or losses from investments.

Security transactions and income recognition

Securities transactions are recorded on a trade date basis. Realized gains or losses are recorded on the basis of identified cost.

Dividend income is recognized on the ex-dividend date. Dividend income is recorded net of foreign taxes withheld where recovery of such taxes is not assured.

Interest earned on cash balances held at the custodian is recorded as interest income.

Distributions to shareholders

Distributions to shareholders are recorded on the ex-dividend date and paid from net investment income monthly and any net realized gains are paid at least annually. Such distributions are determined in accordance with income tax regulations and may differ from U.S. GAAP. Dividend sources are estimated at the time of declaration. The tax character of distributions is determined as of the Fund's fiscal year end. Therefore, a portion of the Fund's distributions made prior to the Fund's fiscal year end may be categorized as a tax return of capital at year end.

Allspring LT Large Core ETF \| 9

------

Notes to financial statements (unaudited)

Federal and other taxes

The Fund intends to continue to qualify as a regulated investment company by distributing substantially all of its investment company taxable and tax-exempt income and any net realized capital gains (after reduction for capital loss carryforwards) sufficient to relieve it from all, or substantially all, federal income taxes. Accordingly, no provision for federal income taxes was required.

The Fund's income and federal excise tax returns and all financial records supporting those returns for the fiscal years since commencement of operations are subject to examination by the federal and Delaware revenue authorities. Management has analyzed the Fund's tax positions taken on federal, state, and foreign tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability.

For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Fund. Because such gains or losses are not taxable to the Fund and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Fund's tax year. These reclassifications have no effect on net assets or NAV per share.

As of January 31, 2026, the aggregate cost of all investments for federal income tax purposes was $6,346,333 and the unrealized gains (losses) consisted of:

---

| | |
|:---|:---|
| Gross unrealized gains | &nbsp;&nbsp; $958272 |
| Gross unrealized losses | &nbsp;&nbsp; (242279)<br>|
| **Net unrealized gains** | &nbsp;&nbsp; **$715993** |

---

As of July 31, 2025, the Fund had capital loss carryforwards which consisted of $1,434 in short-term capital losses.

Capital share transactions

The Fund issues and redeems its shares, at NAV, only in aggregations of a specified number of shares or multiples thereof ("Creation Units"). Except when aggregated in Creation Units, shares of the Fund are not redeemable. Transactions in capital shares for the Fund are disclosed in detail in the Statement of changes in net assets. The consideration for the purchase of Creation Units of a Fund may be for cash or consist of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Authorized participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to the Trust and/or custodian, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. An additional variable fee may be charged for certain transactions. Such variable charges, if any, are included in "Proceeds from shares sold" and "Payments for shares redeemed" in the Statement of changes in net assets.

When an authorized participant fails to deliver one or more of the securities within a designated basket (in the case of a subscription), fails to deliver the Fund shares (in the case of a redemption), or is required by the Fund, prior to settlement, to accommodate the trading of foreign securities in local markets, the Fund may require the authorized participant to deliver and maintain cash collateral in accordance with the authorized participant agreement. In the event that the authorized participant fails to deliver all or a portion of the applicable deposit securities or Fund securities, the Fund may exercise control over such collateral pursuant to the agreement with the authorized participant in order to purchase the applicable securities.

3. 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.

10 \| Allspring LT Large Core ETF

------

Notes to financial statements (unaudited)

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of January 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Common stocks** |  |  |  |  |
| *Communication services* | &nbsp;&nbsp; $802038 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $802038 |
| *Consumer discretionary* | &nbsp;&nbsp; 797231 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 797231 |
| *Consumer staples* | &nbsp;&nbsp; 171658 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 171658 |
| *Energy* | &nbsp;&nbsp; 315982 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 315982 |
| *Financials* | &nbsp;&nbsp; 1017973 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1017973 |
| *Health care* | &nbsp;&nbsp; 494686 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 494686 |
| *Industrials* | &nbsp;&nbsp; 815296 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 815296 |
| *Information technology* | &nbsp;&nbsp; 2495093 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 2495093 |
| *Materials* | &nbsp;&nbsp; 62038 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 62038 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 90331 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 90331 |
| **Total assets** | &nbsp;&nbsp; **$7062326** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$7062326** |

---

Additional sector, industry or geographic detail, if any, is included in the Portfolio of investments.

At January 31, 2026, the Fund did not have any transfers into/out of Level 3.

4. TRANSACTIONS WITH AFFILIATES

Management fee

Allspring Funds Management, a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P., is the manager of the Fund and provides advisory and fund-level administrative services under an investment management agreement. Allspring Funds Management is entitled to receive an annual unitary management fee, generally payable monthly, in an amount equal to 0.28% of the average daily net assets of the Fund. Pursuant to the unitary management fee arrangement, Allspring Funds Management has agreed to pay all expenses incurred by, and appropriately allocated to, the Fund, excluding only: the management fee payable to Allspring Funds Management, brokerage expenses and other expenses incurred in connection with the execution of portfolio transactions; interest charges on any borrowings, dividends and other expenses on securities sold short; taxes; payments under the Fund's Rule 12b-1 plan; proxy and shareholder meeting expenses; litigation expenses; extraordinary expenses; and acquired fund fees and expenses.

Allspring Funds Management has retained the services of a subadviser to provide daily portfolio management to the Fund. The fee for subadvisory services is borne by Allspring Funds Management. Allspring Global Investments, LLC, an affiliate of Allspring Funds Management and a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, is the subadviser to the Fund.

For the six months ended January 31, 2026, the management fee was equivalent to an annual rate of 0.28% of the Fund's average daily net assets.

Distribution fee

Allspring Funds Distributor, LLC (the "Distributor"), the principal underwriter, an affiliate of Allspring Funds Management, serves as the exclusive distributor of the Fund's shares. The Distributor does not maintain a secondary market in the Fund's shares. The Fund has adopted a distribution plan pursuant to Rule 12b-1 under the 1940 Act pursuant to which the Fund is authorized to pay fees at an annual rate of up to 0.25% of the Fund's average daily net assets for the sale and distribution of the Fund's shares. The Fund's Board of Trustees has determined not to implement a distribution fee pursuant to the distribution plan at this time. The distribution fee may only be imposed after approval by the Fund's Board of Trustees.

Interfund transactions

The Fund may purchase or sell portfolio investment securities to certain affiliates pursuant to Rule 17a-7 under the 1940 Act and under procedures adopted by the Board of Trustees. The procedures have been designed to ensure that these interfund transactions, which do not incur broker commissions, are effected at current market prices. Pursuant to these procedures, the Fund did not have any interfund transactions during the six months ended January 31, 2026.

Allspring LT Large Core ETF \| 11

------

Notes to financial statements (unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments, excluding short-term securities, for the six months ended January 31, 2026 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| Purchases at cost | Purchases at cost | Sales Proceeds | Sales Proceeds |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>| IN-KIND | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>| IN-KIND |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $495488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $551620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $234074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $2490972 |

---

6. CONCENTRATION RISKS

As of the end of the period, the Fund concentrated its portfolio of investments in the information technology sector. A fund that invests a substantial portion of its assets in any sector may be more affected by changes in that sector than would be a fund whose investments are not heavily weighted in any sector.

7. INDEMNIFICATION

Under the Fund's organizational documents, the officers and Trustees have been granted certain indemnification rights against certain liabilities that may arise out of performance of their duties to the Fund. The Fund has entered into a separate agreement with each Trustee that converts indemnification rights currently existing under the Fund's organizational documents into contractual rights that cannot be changed in the future without the consent of the Trustee. Additionally, in the normal course of business, the Fund may enter into contracts with service providers that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is dependent on future claims that may be made against the Fund and, therefore, cannot be estimated.

8. OPERATING SEGMENTS

The Fund operates as a single operating segment. An operating segment is defined as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The President of the Fund acts as the Fund's CODM. The CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation from which it derives its revenues is determined as outlined in the Fund's prospectus which is executed by the Fund's portfolio management team. The portfolio composition, total return and expense ratios, and the components of total increase/decrease in net assets are used by the CODM to assess the segment's performance and to make resource allocation decisions for the Fund's single segment. This information is consistent with that presented within the Fund's financial statements. Segment assets are reflected on the accompanying Statement of assets and liabilities as "total assets" and significant segment revenue and expenses are listed on the accompanying Statement of operations.

9. NEW ACCOUNTING PRONOUNCEMENT

In December 2023, the FASB issued Accounting Standards Update ("ASU") 2023-09, *Income Taxes (Topic 740): Improvements to Income Tax Disclosures.* The ASU includes amendments to enhance annual income tax disclosures required for public entities, including the requirement to disclose income taxes paid disaggregated by jurisdiction. The ASU is effective for annual periods beginning after December 15, 2024. Management has determined that there is no material impact of the ASU on the Fund's financial statements.

12 \| Allspring LT Large Core ETF

------

Other information (unaudited)

Other information

Proxy voting information

A description of the policies and procedures used to determine how to vote proxies relating to portfolio securities is available, upon request, by calling **1-866-259-3305**, visiting our website at **allspringglobal.com**, or visiting the SEC website at sec.gov. Information regarding how the proxies related to portfolio securities were voted during the most recent 12-month period ended June 30 is available on the website at **allspringglobal.com** or by visiting the SEC website at sec.gov.

Quarterly portfolio holdings information

The Fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. Shareholders may view the filed Form N-PORT by visiting the SEC website at sec.gov. The Fund's portfolio holdings information is also available on our website at **allspringglobal.com**.

Allspring LT Large Core ETF \| 13

------

Other information (unaudited)

Item 8. Changes in and disagreements with accountants

Not applicable

Item 9. Matters submitted to fund shareholders for a vote

Not applicable

Item 10. Remuneration paid to directors, officers and others

Refer to information in the Statement of operations.

Item 11. Statement regarding basis for the board's approval of investment advisory contract

Not applicable

14 \| Allspring LT Large Core ETF

------

*This page is intentionally left blank.*

------

*This page is intentionally left blank.*

------

![](g69856img9aa182cd1.jpg)

For more information

More information about Allspring Funds is available free upon request. To obtain literature, please write, visit the Fund's website, or call:

Allspring Funds Distributor, LLC

1415 Vantage Park Drive, 3rd Floor

Charlotte, NC 28203

Website: **allspringglobal.com**

Telephone:1-866-701-2575

![](g69856img965712222.gif)

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. If this report is used for promotional purposes, distribution of the report must be accompanied or preceded by a current prospectus. Before investing, please consider the investment objectives, risks, charges, and expenses of the investment. For a current prospectus and, if available, a summary prospectus, containing this information, call* ***1-866-701-2575*** *or visit the Fund's website at* ***allspringglobal.com****. Read the prospectus carefully before you invest or send money.*

Allspring Global Investments<sup>TM</sup> is the trade name for the asset management firms of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P. These firms include but are not limited to Allspring Global Investments, LLC, and Allspring Funds Management, LLC. Certain products managed by Allspring entities are distributed by Allspring Funds Distributor, LLC (a broker-dealer and Member FINRA/SIPC).

This material is for general informational and educational purposes only and is NOT intended to provide investment advice or a recommendation of any kind - including a recommendation for any specific investment, strategy, or plan.

**© 2026 Allspring Global Investments Holdings, LLC. All rights reserved.**

**NCSRSALRG 01-26**

------

![](g69856imgc0ba45e51.jpg)

Allspring LT Large Growth ETF (AGRW)

Long Form Financial Statements

Semi-Annual Report

January 31, 2026

------

Contents

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **[Portfolio of investments](#xx_eacbf1a5-fd88-4730-9a92-3de29e1b21ee_POI-PageBlank-1032_1)** | 2 |
| **[Item 7. Financial statements and financial highlights](#xx_eacbf1a5-fd88-4730-9a92-3de29e1b21ee_FS-PageBlank-1032_1)** |  |
| [Statement of assets and liabilities](#xx_eacbf1a5-fd88-4730-9a92-3de29e1b21ee_FS-PageBlank-1032_1) | 5 |
| [Statement of operations](#xx_eacbf1a5-fd88-4730-9a92-3de29e1b21ee_FS-PageBlank-1032_2) | 6 |
| [Statement of changes in net assets](#xx_eacbf1a5-fd88-4730-9a92-3de29e1b21ee_FS-PageBlank-1032_3) | 7 |
| [Financial highlights](#xx_eacbf1a5-fd88-4730-9a92-3de29e1b21ee_FIHI-PageBlank-1032_1) | 8 |
| **[Notes to financial statements](#xx_eacbf1a5-fd88-4730-9a92-3de29e1b21ee_NTF-PageBlank-1032_1)** | 9 |
| **[Other information](#xx_eacbf1a5-fd88-4730-9a92-3de29e1b21ee_OI-PageBlank-1032_1)** | 13 |
| [Item 8. Changes in and disagreements with accountants](#xx_eacbf1a5-fd88-4730-9a92-3de29e1b21ee_OI-PageBlank-1032_2) | 14 |
| [Item 9. Matters submitted to fund shareholders for a vote](#xx_eacbf1a5-fd88-4730-9a92-3de29e1b21ee_OI-PageBlank-1032_2) | 14 |
| [Item 10. Remuneration paid to directors, officers and others](#xx_eacbf1a5-fd88-4730-9a92-3de29e1b21ee_OI-PageBlank-1032_2) | 14 |
| [Item 11. Statement regarding basis for board](#xx_eacbf1a5-fd88-4730-9a92-3de29e1b21ee_OI-PageBlank-1032_2)['](#xx_eacbf1a5-fd88-4730-9a92-3de29e1b21ee_OI-PageBlank-1032_2)[s approval of investment](#xx_eacbf1a5-fd88-4730-9a92-3de29e1b21ee_OI-PageBlank-1032_2)<br> [advisory contract](#xx_eacbf1a5-fd88-4730-9a92-3de29e1b21ee_OI-PageBlank-1032_2)<br>| 14 |

---

Allspring LT Large Growth ETF \| 1

------

Portfolio of investments—January 31, 2026 (unaudited)

Portfolio of investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Common stocks: 99.57%** |  |  |
| **Communication services: 14.76%** |  |  |
| **Entertainment: 2.20%** |  |  |
| Netflix, Inc.† | 11584 | &nbsp;&nbsp; $967148 |
| Spotify Technology SA† | 3080 | &nbsp;&nbsp; 1541078 |
|  |  | &nbsp;&nbsp; **2508226** |
| **Interactive media & services: 12.02%** |  |  |
| Alphabet, Inc. Class C | 24615 | &nbsp;&nbsp; 8332916 |
| Meta Platforms, Inc. Class A | 7485 | &nbsp;&nbsp; 5363003 |
|  |  | &nbsp;&nbsp; **13695919** |
| **Media: 0.54%** |  |  |
| The Trade Desk, Inc. Class A† | 20301 | &nbsp;&nbsp; **615729** |
| **Consumer discretionary: 9.42%** |  |  |
| **Broadline retail: 6.48%** |  |  |
| Amazon.com, Inc.† | 30872 | &nbsp;&nbsp; **7387670** |
| **Hotels, restaurants & leisure: 1.01%** |  |  |
| Chipotle Mexican Grill, Inc. Class A† | 29690 | &nbsp;&nbsp; **1154050** |
| **Specialty retail: 1.93%** |  |  |
| Tractor Supply Co. | 18178 | &nbsp;&nbsp; 924896 |
| Ulta Beauty, Inc.† | 1972 | &nbsp;&nbsp; 1276594 |
|  |  | &nbsp;&nbsp; **2201490** |
| **Consumer staples: 1.07%** |  |  |
| **Consumer staples distribution & retail: 1.07%** |  |  |
| Walmart, Inc. | 10214 | &nbsp;&nbsp; **1216896** |
| **Financials: 6.57%** |  |  |
| **Capital markets: 3.33%** |  |  |
| Intercontinental Exchange, Inc. | 5617 | &nbsp;&nbsp; 976122 |
| Morgan Stanley | 7585 | &nbsp;&nbsp; 1386538 |
| S&P Global, Inc. | 2720 | &nbsp;&nbsp; 1435589 |
|  |  | &nbsp;&nbsp; **3798249** |
| **Financial services: 3.24%** |  |  |
| Corpay, Inc.† | 3211 | &nbsp;&nbsp; 1010277 |
| Visa, Inc. Class A | 8342 | &nbsp;&nbsp; 2684706 |
|  |  | &nbsp;&nbsp; **3694983** |
| **Health care: 10.62%** |  |  |
| **Biotechnology: 2.18%** |  |  |
| Neurocrine Biosciences, Inc.† | 8270 | &nbsp;&nbsp; 1125216 |
| Vertex Pharmaceuticals, Inc.† | 2903 | &nbsp;&nbsp; 1364120 |
|  |  | &nbsp;&nbsp; **2489336** |
| **Health care equipment & supplies: 4.13%** |  |  |
| Boston Scientific Corp.† | 15944 | &nbsp;&nbsp; 1491242 |

---

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

2 \| Allspring LT Large Growth ETF

------

Portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Health care equipment & supplies**(continued) |  |  |
| DexCom, Inc.† | 19065 | &nbsp;&nbsp; $1392507 |
| Intuitive Surgical, Inc.† | 3612 | &nbsp;&nbsp; 1821243 |
|  |  | &nbsp;&nbsp; **4704992** |
| **Health care providers & services: 0.80%** |  |  |
| UnitedHealth Group, Inc. | 3186 | &nbsp;&nbsp; **914159** |
| **Life sciences tools & services: 1.35%** |  |  |
| Danaher Corp. | 7022 | &nbsp;&nbsp; **1537046** |
| **Pharmaceuticals: 2.16%** |  |  |
| Eli Lilly & Co. | 2368 | &nbsp;&nbsp; **2455971** |
| **Industrials: 8.06%** |  |  |
| **Aerospace & defense: 1.37%** |  |  |
| TransDigm Group, Inc. | 1092 | &nbsp;&nbsp; **1558874** |
| **Electrical equipment: 2.96%** |  |  |
| GE Vernova, Inc. | 2736 | &nbsp;&nbsp; 1987348 |
| Vertiv Holdings Co. Class A | 7466 | &nbsp;&nbsp; 1390020 |
|  |  | &nbsp;&nbsp; **3377368** |
| **Ground transportation: 3.73%** |  |  |
| Canadian Pacific Kansas City Ltd. | 17301 | &nbsp;&nbsp; 1286156 |
| Uber Technologies, Inc.† | 19484 | &nbsp;&nbsp; 1559694 |
| XPO, Inc.† | 9461 | &nbsp;&nbsp; 1401269 |
|  |  | &nbsp;&nbsp; **4247119** |
| **Information technology: 47.90%** |  |  |
| **Communications equipment: 2.03%** |  |  |
| Arista Networks, Inc.† | 16304 | &nbsp;&nbsp; **2310929** |
| **IT services: 1.27%** |  |  |
| Okta, Inc.† | 17147 | &nbsp;&nbsp; **1448579** |
| **Semiconductors & semiconductor equipment: 21.32%** |  |  |
| Analog Devices, Inc. | 4140 | &nbsp;&nbsp; 1287043 |
| Broadcom, Inc. | 16577 | &nbsp;&nbsp; 5491960 |
| NVIDIA Corp. | 91718 | &nbsp;&nbsp; 17530062 |
|  |  | &nbsp;&nbsp; **24309065** |
| **Software: 16.90%** |  |  |
| Adobe, Inc.† | 4509 | &nbsp;&nbsp; 1322264 |
| Cadence Design Systems, Inc.† | 4671 | &nbsp;&nbsp; 1384298 |
| Datadog, Inc. Class A† | 12402 | &nbsp;&nbsp; 1603827 |
| Microsoft Corp. | 20148 | &nbsp;&nbsp; 8669483 |
| Monday.com Ltd.† | 6175 | &nbsp;&nbsp; 708581 |
| Oracle Corp. | 6092 | &nbsp;&nbsp; 1002621 |
| Palo Alto Networks, Inc.† | 8249 | &nbsp;&nbsp; 1459825 |

---

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

Allspring LT Large Growth ETF \| 3

------

Portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Software**(continued) |  |  |
| Salesforce, Inc. | 7313 | &nbsp;&nbsp; $1552477 |
| ServiceNow, Inc.† | 13301 | &nbsp;&nbsp; 1556350 |
|  |  | &nbsp;&nbsp; **19259726** |
| **Technology hardware, storage & peripherals: 6.38%** |  |  |
| Apple, Inc. | 28051 | &nbsp;&nbsp; **7278673** |
| **Materials: 1.17%** |  |  |
| **Chemicals: 1.17%** |  |  |
| Ecolab, Inc. | 4710 | &nbsp;&nbsp; **1328173** |
| **Total common stocks (Cost $92,315,519)** |  | &nbsp;&nbsp; **113493222** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | Yield |  |  |
| **Short-term investments: 0.46%** |  |  |  |  |
| **Investment companies: 0.46%** |  |  |  |  |
| Allspring Government Money Market Fund Select Class♠∞ |  | 3.63<br> %<br>| 526511 | &nbsp;&nbsp; **526511** |
| **Total short-term investments (Cost $526,511)** |  |  |  | &nbsp;&nbsp; **526511** |
| **Total investments in securities (Cost $92,842,030)** | 100.03<br> %<br>|  |  | &nbsp;&nbsp; 114019733 |
| Other assets and liabilities, net | (0.03)<br>|  |  | &nbsp;&nbsp; (28531)<br>|
| **Total net assets** | **100.00%**<br>|  |  | &nbsp;&nbsp; **$113991202** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

† Non-income-earning security <br> ♠ The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. <br> ∞ The rate represents the 7-day annualized yield at period end.

**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, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| Allspring Government Money Market Fund Select Class | $584683 | $1801279 | $(1859451)<br>| $0 | $0 | $526511 | 526511 | $12808 |

---

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

4 \| Allspring LT Large Growth ETF

------

Statement of assets and liabilities—January 31, 2026 (unaudited)

Financial statements

Statement of assets and liabilities

---

| | |
|:---|:---|
| Assets |  |
| Investments in unaffiliated securities, at value (cost $92,315,519) | $113493222 |
| Investments in affiliated securities, at value (cost $526,511) | 526511 |
| Receivable for dividends | 10561 |
| **Total assets** | **114030294** |
| Liabilities |  |
| Management fee payable | 39092 |
| **Total liabilities** | **39092** |
| **Total net assets**  | **$113991202** |
| Net assets consist of |  |
| Paid-in capital | $86904659 |
| Total distributable earnings | 27086543 |
| **Total net assets** | **$113991202** |
| Net asset value per share |  |
| Based on $113,991,202 divided by 3,822,000 shares issued and outstanding (unlimited number of shares authorized) | $29.83 |

---

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

Allspring LT Large Growth ETF \| 5

------

Statement of operations—six months ended January 31, 2026 (unaudited)

Statement of operations

---

| | |
|:---|:---|
| Investment income |  |
| Dividends (net of foreign withholdings taxes of $961) | $339593 |
| Income from affiliated securities | 12808 |
| Interest | 3 |
| **Total investment income** | **352404** |
| Expenses |  |
| Management fee | 227252 |
| **Total expenses** | **227252** |
| **Net investment income** | **125152** |
| Realized and unrealized gains (losses) on investments |  |
| Net realized gains (losses) on |  |
| Unaffiliated securities | (507374)<br>|
| Unaffiliated in-kind redemptions | 6492052 |
| Foreign currency and foreign currency translations | (11)<br>|
| **Net realized gains on investments**  | **5984667** |
| **Net change in unrealized gains (losses) on investments** | **(3033292)**<br>|
| **Net realized and unrealized gains (losses) on investments** | **2951375** |
| **Net increase in net assets resulting from operations** | **$3076527** |

---

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

6 \| Allspring LT Large Growth ETF

------

Statement of changes in net assets

Statement of changes in net assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six months ended<br> January 31, 2026<br> (unaudited) | Six months ended<br> January 31, 2026<br> (unaudited) | Year ended<br> July 31, 2025<sup>1</sup> | Year ended<br> July 31, 2025<sup>1</sup> |
| Operations |  |  |  |  |
| Net investment income |  | &nbsp;&nbsp; $125152 |  | &nbsp;&nbsp; $9878 |
| Net realized gains on investments |  | &nbsp;&nbsp; 5984667 |  | &nbsp;&nbsp; 1590885 |
| Net change in unrealized gains (losses) on investments |  | &nbsp;&nbsp; (3033292)<br>|  | &nbsp;&nbsp; 24210995 |
| **Net increase in net assets resulting from operations** |  | &nbsp;&nbsp; **3076527** |  | &nbsp;&nbsp; **25811758** |
| Distributions to shareholders from |  |  |  |  |
| Net investment income and net realized gains |  | &nbsp;&nbsp; (162686)<br>|  | &nbsp;&nbsp; 0 |
| Capital share transactions | Shares |  | &nbsp;&nbsp; Shares |  |
| Proceeds from shares sold | 378000 | &nbsp;&nbsp; 11378854 | &nbsp;&nbsp; 4956001 | &nbsp;&nbsp; 116234721 |
| Payment for shares redeemed | (840000)<br>| &nbsp;&nbsp; (25137006)<br>| &nbsp;&nbsp; (672001)<br>| &nbsp;&nbsp; (17210966)<br>|
| **Net increase (decrease) in net assets resulting from capital share transactions** |  | &nbsp;&nbsp; **(13758152)**<br>|  | &nbsp;&nbsp; **99023755** |
| **Total increase (decrease) in net assets** |  | &nbsp;&nbsp; **(10844311)**<br>|  | &nbsp;&nbsp; **124835513** |
| Net assets |  |  |  |  |
| **Beginning of period** |  | &nbsp;&nbsp; **124835513** |  | &nbsp;&nbsp; **0** |
| **End of period** |  | &nbsp;&nbsp; **$113991202** |  | &nbsp;&nbsp; **$124835513** |

---

<sup>1</sup> For the period from March 26, 2025 (commencement of operations) to July 31, 2025

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

Allspring LT Large Growth ETF \| 7

------

Financial highlights

Financial highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Six months ended <br>January 31, 2026 <br>(unaudited) | Year ended July 31 |
|  | Six months ended <br>January 31, 2026 <br>(unaudited) | 2025<sup>1</sup> <br>|
| **Net asset value, beginning of period** | **$29.14** | &nbsp;&nbsp; **$24.74** |
| Net investment income | 0.03 <br><sup>2</sup><br>| 0.00 <br><sup>23</sup><br>|
| Net realized and unrealized gains (losses) on investments | 0.70 | 4.40 |
| Total from investment operations | 0.73 | 4.40 |
| **Distributions to shareholders from** |  |  |
| Net investment income | (0.04)<br>| 0.00 |
| **Net asset value, end of period** | **$29.83** | &nbsp;&nbsp; **$29.14** |
| **Total return**<sup>4</sup> <br>| **2.50%**<br>| **17.78%**<br>|
| **Ratios to average net assets (annualized)** |  |  |
| Expenses | 0.35<br> %<br>| 0.35<br> %<br>|
| Net investment income | 0.19<br> %<br>| 0.03<br> %<br>|
| **Supplemental data** |  |  |
| Portfolio turnover rate<sup>5</sup> <br>| 2<br> %<br>| &nbsp;&nbsp; 1<br> %<br>|
| Net assets, end of period (000s omitted) | $113991 | &nbsp;&nbsp; $124836 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>1</sup> For the period from March 26, 2025 (commencement of operations) to July 31, 2025

<sup>2</sup> Calculated based upon average shares outstanding

<sup>3</sup> Amount is less than $0.005.

<sup>4</sup> Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. 

<sup>5</sup> Portfolio turnover rate excludes in-kind transactions, if any.

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

8 \| Allspring LT Large Growth ETF

------

Notes to financial statements (unaudited)

Notes to financial statements

1. ORGANIZATION

Allspring Exchange-Traded Funds Trust (the "Trust"), a Delaware statutory trust organized on June 19, 2014, is an open-end management investment company registered under the Investment Company Act of 1940, as amended ("1940 Act"). As an investment company, the Trust follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*. These financial statements report on the Allspring LT Large Growth ETF (the "Fund") which is a non-diversified series of the Trust.

2. SIGNIFICANT ACCOUNTING POLICIES

The following significant accounting policies, which are consistently followed in the preparation of the financial statements of the Fund, are in conformity with U.S. generally accepted accounting principles ("GAAP") which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

Securities valuation

All investments are valued each business day as of the close of regular trading on the New York Stock Exchange (generally 4 p.m. Eastern Time), although the Fund may deviate from this calculation time under unusual or unexpected circumstances.

Equity securities and exchange-traded funds that are listed on a foreign or domestic exchange or market are valued at the official closing price or, if none, the last sales price.

The values of securities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee at Allspring Funds Management, LLC ("Allspring Funds Management").

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 ("NAV").

Investments which are not valued using the methods discussed above are valued at their fair value, as determined in good faith by Allspring Funds Management, which was named the valuation designee by the Board of Trustees. As the valuation designee, Allspring Funds Management is responsible for day-to-day valuation activities for the Allspring Funds. In connection with these responsibilities, Allspring Funds Management has established a Valuation Committee and has delegated to it the authority to take any actions regarding the valuation of portfolio securities that the Valuation Committee deems necessary or appropriate, including determining the fair value of portfolio securities. On a quarterly basis, the Board of Trustees receives reports of valuation actions taken by the Valuation Committee. On at least an annual basis, the Board of Trustees receives an assessment of the adequacy and effectiveness of Allspring Funds Management's process for determining the fair value of the portfolio of investments.

Foreign currency translation

The accounting records of the Fund are maintained in U.S. dollars. The values of other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee. Purchases and sales of securities, and income and expenses are converted at the rate of exchange on the respective dates of such transactions. Net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the U.S. dollar equivalent of the amounts actually paid or received. Net unrealized foreign exchange gains and losses arise from changes in the fair value of assets and liabilities other than investments in securities resulting from changes in exchange rates. The changes in net assets arising from changes in exchange rates of securities and the changes in net assets resulting from changes in market prices of securities are not separately presented. Such changes are included in net realized and unrealized gains or losses from investments.

Security transactions and income recognition

Securities transactions are recorded on a trade date basis. Realized gains or losses are recorded on the basis of identified cost.

Dividend income is recognized on the ex-dividend date. Dividend income is recorded net of foreign taxes withheld where recovery of such taxes is not assured.

Interest earned on cash balances held at the custodian is recorded as interest income.

Distributions to shareholders

Distributions to shareholders are recorded on the ex-dividend date and paid from net investment income monthly and any net realized gains are paid at least annually. Such distributions are determined in accordance with income tax regulations and may differ from U.S. GAAP. Dividend sources are estimated at the time of declaration. The tax character of distributions is determined as of the Fund's fiscal year end. Therefore, a portion of the Fund's distributions made prior to the Fund's fiscal year end may be categorized as a tax return of capital at year end.

Allspring LT Large Growth ETF \| 9

------

Notes to financial statements (unaudited)

Federal and other taxes

The Fund intends to continue to qualify as a regulated investment company by distributing substantially all of its investment company taxable and tax-exempt income and any net realized capital gains (after reduction for capital loss carryforwards) sufficient to relieve it from all, or substantially all, federal income taxes. Accordingly, no provision for federal income taxes was required.

The Fund's income and federal excise tax returns and all financial records supporting those returns for the fiscal years since commencement of operations are subject to examination by the federal and Delaware revenue authorities. Management has analyzed the Fund's tax positions taken on federal, state, and foreign tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability.

For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Fund. Because such gains or losses are not taxable to the Fund and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Fund's tax year. These reclassifications have no effect on net assets or NAV per share.

As of January 31, 2026, the aggregate cost of all investments for federal income tax purposes was $92,842,065 and the unrealized gains (losses) consisted of:

---

| | |
|:---|:---|
| Gross unrealized gains | &nbsp;&nbsp; $26119772 |
| Gross unrealized losses | &nbsp;&nbsp; (4942104)<br>|
| **Net unrealized gains** | &nbsp;&nbsp; **$21177668** |

---

As of July 31, 2025, the Fund had capital loss carryforwards which consisted of $48,127 in short-term capital losses.

Capital share transactions

The Fund issues and redeems its shares, at NAV, only in aggregations of a specified number of shares or multiples thereof ("Creation Units"). Except when aggregated in Creation Units, shares of the Fund are not redeemable. Transactions in capital shares for the Fund are disclosed in detail in the Statement of changes in net assets. The consideration for the purchase of Creation Units of a Fund may be for cash or consist of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Authorized participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to the Trust and/or custodian, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. An additional variable fee may be charged for certain transactions. Such variable charges, if any, are included in "Proceeds from shares sold" and "Payments for shares redeemed" in the Statement of changes in net assets.

When an authorized participant fails to deliver one or more of the securities within a designated basket (in the case of a subscription), fails to deliver the Fund shares (in the case of a redemption), or is required by the Fund, prior to settlement, to accommodate the trading of foreign securities in local markets, the Fund may require the authorized participant to deliver and maintain cash collateral in accordance with the authorized participant agreement. In the event that the authorized participant fails to deliver all or a portion of the applicable deposit securities or Fund securities, the Fund may exercise control over such collateral pursuant to the agreement with the authorized participant in order to purchase the applicable securities.

3. 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.

10 \| Allspring LT Large Growth ETF

------

Notes to financial statements (unaudited)

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of January 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Common stocks** |  |  |  |  |
| *Communication services* | &nbsp;&nbsp; $16819874 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $16819874 |
| *Consumer discretionary* | &nbsp;&nbsp; 10743210 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 10743210 |
| *Consumer staples* | &nbsp;&nbsp; 1216896 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1216896 |
| *Financials* | &nbsp;&nbsp; 7493232 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 7493232 |
| *Health care* | &nbsp;&nbsp; 12101504 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 12101504 |
| *Industrials* | &nbsp;&nbsp; 9183361 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 9183361 |
| *Information technology* | &nbsp;&nbsp; 54606972 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 54606972 |
| *Materials* | &nbsp;&nbsp; 1328173 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1328173 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 526511 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 526511 |
| **Total assets** | &nbsp;&nbsp; **$114019733** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$114019733** |

---

Additional sector, industry or geographic detail, if any, is included in the Portfolio of investments.

At January 31, 2026, the Fund did not have any transfers into/out of Level 3.

4. TRANSACTIONS WITH AFFILIATES

Management fee

Allspring Funds Management, a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P., is the manager of the Fund and provides advisory and fund-level administrative services under an investment management agreement. Allspring Funds Management is entitled to receive an annual unitary management fee, generally payable monthly, in an amount equal to 0.35% of the average daily net assets of the Fund. Pursuant to the unitary management fee arrangement, Allspring Funds Management has agreed to pay all expenses incurred by, and appropriately allocated to, the Fund, excluding only: the management fee payable to Allspring Funds Management, brokerage expenses and other expenses incurred in connection with the execution of portfolio transactions; interest charges on any borrowings, dividends and other expenses on securities sold short; taxes; payments under the Fund's Rule 12b-1 plan; proxy and shareholder meeting expenses; litigation expenses; extraordinary expenses; and acquired fund fees and expenses.

Allspring Funds Management has retained the services of a subadviser to provide daily portfolio management to the Fund. The fee for subadvisory services is borne by Allspring Funds Management. Allspring Global Investments, LLC, an affiliate of Allspring Funds Management and a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, is the subadviser to the Fund.

For the six months ended January 31, 2026, the management fee was equivalent to an annual rate of 0.35% of the Fund's average daily net assets.

Distribution fee

Allspring Funds Distributor, LLC (the "Distributor"), the principal underwriter, an affiliate of Allspring Funds Management, serves as the exclusive distributor of the Fund's shares. The Distributor does not maintain a secondary market in the Fund's shares. The Fund has adopted a distribution plan pursuant to Rule 12b-1 under the 1940 Act pursuant to which the Fund is authorized to pay fees at an annual rate of up to 0.25% of the Fund's average daily net assets for the sale and distribution of the Fund's shares. The Fund's Board of Trustees has determined not to implement a distribution fee pursuant to the distribution plan at this time. The distribution fee may only be imposed after approval by the Fund's Board of Trustees.

Interfund transactions

The Fund may purchase or sell portfolio investment securities to certain affiliates pursuant to Rule 17a-7 under the 1940 Act and under procedures adopted by the Board of Trustees. The procedures have been designed to ensure that these interfund transactions, which do not incur broker commissions, are effected at current market prices. Pursuant to these procedures, the Fund did not have any interfund transactions during the six months ended January 31, 2026.

Allspring LT Large Growth ETF \| 11

------

Notes to financial statements (unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments, excluding short-term securities, for the six months ended January 31, 2026 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| Purchases at cost | Purchases at cost | Sales Proceeds | Sales Proceeds |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>| IN-KIND | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>| IN-KIND |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $12024033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $627967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $2667480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $23716638 |

---

6. CONCENTRATION RISKS

As of the end of the period, the Fund concentrated its portfolio of investments in the information technology sector. A fund that invests a substantial portion of its assets in any sector may be more affected by changes in that sector than would be a fund whose investments are not heavily weighted in any sector.

7. INDEMNIFICATION

Under the Fund's organizational documents, the officers and Trustees have been granted certain indemnification rights against certain liabilities that may arise out of performance of their duties to the Fund. The Fund has entered into a separate agreement with each Trustee that converts indemnification rights currently existing under the Fund's organizational documents into contractual rights that cannot be changed in the future without the consent of the Trustee. Additionally, in the normal course of business, the Fund may enter into contracts with service providers that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is dependent on future claims that may be made against the Fund and, therefore, cannot be estimated.

8. OPERATING SEGMENTS

The Fund operates as a single operating segment. An operating segment is defined as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The President of the Fund acts as the Fund's CODM. The CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation from which it derives its revenues is determined as outlined in the Fund's prospectus which is executed by the Fund's portfolio management team. The portfolio composition, total return and expense ratios, and the components of total increase/decrease in net assets are used by the CODM to assess the segment's performance and to make resource allocation decisions for the Fund's single segment. This information is consistent with that presented within the Fund's financial statements. Segment assets are reflected on the accompanying Statement of assets and liabilities as "total assets" and significant segment revenue and expenses are listed on the accompanying Statement of operations.

9. NEW ACCOUNTING PRONOUNCEMENT

In December 2023, the FASB issued Accounting Standards Update ("ASU") 2023-09, *Income Taxes (Topic 740): Improvements to Income Tax Disclosures.* The ASU includes amendments to enhance annual income tax disclosures required for public entities, including the requirement to disclose income taxes paid disaggregated by jurisdiction. The ASU is effective for annual periods beginning after December 15, 2024. Management has determined that there is no material impact of the ASU on the Fund's financial statements.

12 \| Allspring LT Large Growth ETF

------

Other information (unaudited)

Other information

Proxy voting information

A description of the policies and procedures used to determine how to vote proxies relating to portfolio securities is available, upon request, by calling **1-866-259-3305**, visiting our website at **allspringglobal.com**, or visiting the SEC website at sec.gov. Information regarding how the proxies related to portfolio securities were voted during the most recent 12-month period ended June 30 is available on the website at **allspringglobal.com** or by visiting the SEC website at sec.gov.

Quarterly portfolio holdings information

The Fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. Shareholders may view the filed Form N-PORT by visiting the SEC website at sec.gov. The Fund's portfolio holdings information is also available on our website at **allspringglobal.com**.

Allspring LT Large Growth ETF \| 13

------

Other information (unaudited)

Item 8. Changes in and disagreements with accountants

Not applicable

Item 9. Matters submitted to fund shareholders for a vote

Not applicable

Item 10. Remuneration paid to directors, officers and others

Refer to information in the Statement of operations.

Item 11. Statement regarding basis for the board's approval of investment advisory contract

Not applicable

14 \| Allspring LT Large Growth ETF

------

*This page is intentionally left blank.*

------

*This page is intentionally left blank.*

------

![](g69856imgc0ba45e51.jpg)

For more information

More information about Allspring Funds is available free upon request. To obtain literature, please write, visit the Fund's website, or call:

Allspring Funds Distributor, LLC

1415 Vantage Park Drive, 3rd Floor

Charlotte, NC 28203

Website: **allspringglobal.com**

Telephone:1-866-701-2575

![](g69856img71eeb6f52.gif)

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. If this report is used for promotional purposes, distribution of the report must be accompanied or preceded by a current prospectus. Before investing, please consider the investment objectives, risks, charges, and expenses of the investment. For a current prospectus and, if available, a summary prospectus, containing this information, call* ***1-866-701-2575*** *or visit the Fund's website at* ***allspringglobal.com****. Read the prospectus carefully before you invest or send money.*

Allspring Global Investments<sup>TM</sup> is the trade name for the asset management firms of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P. These firms include but are not limited to Allspring Global Investments, LLC, and Allspring Funds Management, LLC. Certain products managed by Allspring entities are distributed by Allspring Funds Distributor, LLC (a broker-dealer and Member FINRA/SIPC).

This material is for general informational and educational purposes only and is NOT intended to provide investment advice or a recommendation of any kind - including a recommendation for any specific investment, strategy, or plan.

**© 2026 Allspring Global Investments Holdings, LLC. All rights reserved.**

**NCSRSAGRW 01-26**

------

![](g69856imgc52aa2611.jpg)

Allspring Special Large Value ETF (ASLV)

Long Form Financial Statements

Semi-Annual Report

January 31, 2026

------

Contents

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **[Portfolio of investments](#xx_25109c14-ace3-4677-bd59-559e0869de94_POI-PageBlank-1033_1)** | 2 |
| **[Item 7. Financial statements and financial highlights](#xx_25109c14-ace3-4677-bd59-559e0869de94_FS-PageBlank-1033_1)** |  |
| [Statement of assets and liabilities](#xx_25109c14-ace3-4677-bd59-559e0869de94_FS-PageBlank-1033_1) | 6 |
| [Statement of operations](#xx_25109c14-ace3-4677-bd59-559e0869de94_FS-PageBlank-1033_2) | 7 |
| [Statement of changes in net assets](#xx_25109c14-ace3-4677-bd59-559e0869de94_FS-PageBlank-1033_3) | 8 |
| [Financial highlights](#xx_25109c14-ace3-4677-bd59-559e0869de94_FIHI-PageBlank-1033_1) | 9 |
| **[Notes to financial statements](#xx_25109c14-ace3-4677-bd59-559e0869de94_NTF-PageBlank-1033_1)** | 10 |
| **[Other information](#xx_25109c14-ace3-4677-bd59-559e0869de94_OI-PageBlank-1033_1)** | 14 |
| [Item 8. Changes in and disagreements with accountants](#xx_25109c14-ace3-4677-bd59-559e0869de94_OI-PageBlank-1033_2) | 15 |
| [Item 9. Matters submitted to fund shareholders for a vote](#xx_25109c14-ace3-4677-bd59-559e0869de94_OI-PageBlank-1033_2) | 15 |
| [Item 10. Remuneration paid to directors, officers and others](#xx_25109c14-ace3-4677-bd59-559e0869de94_OI-PageBlank-1033_2) | 15 |
| [Item 11. Statement regarding basis for board](#xx_25109c14-ace3-4677-bd59-559e0869de94_OI-PageBlank-1033_2)['](#xx_25109c14-ace3-4677-bd59-559e0869de94_OI-PageBlank-1033_2)[s approval of investment](#xx_25109c14-ace3-4677-bd59-559e0869de94_OI-PageBlank-1033_2)<br> [advisory contract](#xx_25109c14-ace3-4677-bd59-559e0869de94_OI-PageBlank-1033_2)<br>| 15 |

---

Allspring Special Large Value ETF \| 1

------

Portfolio of investments—January 31, 2026 (unaudited)

Portfolio of investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Common stocks: 98.44%** |  |  |
| **Communication services: 5.56%** |  |  |
| **Interactive media & services: 5.56%** |  |  |
| Alphabet, Inc. Class C | 41036 | &nbsp;&nbsp; **$13891917** |
| **Consumer discretionary: 9.69%** |  |  |
| **Automobiles: 2.04%** |  |  |
| General Motors Co. | 60800 | &nbsp;&nbsp; **5107200** |
| **Broadline retail: 3.33%** |  |  |
| Amazon.com, Inc.† | 34774 | &nbsp;&nbsp; **8321418** |
| **Specialty retail: 2.91%** |  |  |
| Home Depot, Inc. | 19404 | &nbsp;&nbsp; **7268544** |
| **Textiles, apparel & luxury goods: 1.41%** |  |  |
| NIKE, Inc. Class B | 56961 | &nbsp;&nbsp; **3520760** |
| **Consumer staples: 7.11%** |  |  |
| **Consumer staples distribution & retail: 1.77%** |  |  |
| Walmart, Inc. | 37141 | &nbsp;&nbsp; **4424979** |
| **Food products: 2.61%** |  |  |
| Mondelez International, Inc. Class A | 111514 | &nbsp;&nbsp; **6520224** |
| **Personal care products: 2.73%** |  |  |
| Unilever PLC ADR | 99776 | &nbsp;&nbsp; **6820687** |
| **Energy: 6.30%** |  |  |
| **Energy equipment & services: 1.69%** |  |  |
| Baker Hughes Co. Class A | 75314 | &nbsp;&nbsp; **4220597** |
| **Oil, gas & consumable fuels: 4.61%** |  |  |
| ConocoPhillips | 35966 | &nbsp;&nbsp; 3748736 |
| Exxon Mobil Corp. | 55130 | &nbsp;&nbsp; 7795382 |
|  |  | &nbsp;&nbsp; **11544118** |
| **Financials: 19.74%** |  |  |
| **Banks: 5.70%** |  |  |
| Bank of America Corp. | 166163 | &nbsp;&nbsp; 8839871 |
| Citigroup, Inc. | 46832 | &nbsp;&nbsp; 5418931 |
|  |  | &nbsp;&nbsp; **14258802** |
| **Capital markets: 3.77%** |  |  |
| Intercontinental Exchange, Inc. | 54143 | &nbsp;&nbsp; **9408971** |
| **Consumer finance: 3.47%** |  |  |
| Capital One Financial Corp. | 39654 | &nbsp;&nbsp; **8681450** |
| **Financial services: 5.58%** |  |  |
| Berkshire Hathaway, Inc. Class B† | 16168 | &nbsp;&nbsp; 7769209 |

---

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

2 \| Allspring Special Large Value ETF

------

Portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Financial services**(continued) |  |  |
| Rocket Cos., Inc. Class A | 102217 | &nbsp;&nbsp; $1832751 |
| Visa, Inc. Class A | 13499 | &nbsp;&nbsp; 4344383 |
|  |  | &nbsp;&nbsp; **13946343** |
| **Insurance: 1.22%** |  |  |
| Chubb Ltd. | 9867 | &nbsp;&nbsp; **3054428** |
| **Health care: 13.69%** |  |  |
| **Biotechnology: 1.30%** |  |  |
| Vertex Pharmaceuticals, Inc.† | 6896 | &nbsp;&nbsp; **3240430** |
| **Health care equipment & supplies: 2.05%** |  |  |
| Medtronic PLC | 49771 | &nbsp;&nbsp; **5124422** |
| **Health care providers & services: 4.95%** |  |  |
| Cigna Group | 18341 | &nbsp;&nbsp; 5027451 |
| Labcorp Holdings, Inc. | 27063 | &nbsp;&nbsp; 7348146 |
|  |  | &nbsp;&nbsp; **12375597** |
| **Life sciences tools & services: 2.80%** |  |  |
| Danaher Corp. | 32038 | &nbsp;&nbsp; **7012798** |
| **Pharmaceuticals: 2.59%** |  |  |
| Johnson & Johnson | 28530 | &nbsp;&nbsp; **6483443** |
| **Industrials: 13.45%** |  |  |
| **Aerospace & defense: 1.42%** |  |  |
| RTX Corp. | 17616 | &nbsp;&nbsp; **3539583** |
| **Building products: 1.03%** |  |  |
| Owens Corning | 21569 | &nbsp;&nbsp; **2584829** |
| **Electrical equipment: 1.67%** |  |  |
| Eaton Corp. PLC | 11885 | &nbsp;&nbsp; **4176627** |
| **Ground transportation: 5.03%** |  |  |
| Canadian Pacific Kansas City Ltd. | 114430 | &nbsp;&nbsp; 8506726 |
| Union Pacific Corp. | 17324 | &nbsp;&nbsp; 4072872 |
|  |  | &nbsp;&nbsp; **12579598** |
| **Industrial conglomerates: 2.82%** |  |  |
| Honeywell International, Inc. | 30979 | &nbsp;&nbsp; **7048342** |
| **Trading companies & distributors: 1.48%** |  |  |
| AerCap Holdings NV | 25694 | &nbsp;&nbsp; **3691200** |
| **Information technology: 10.88%** |  |  |
| **IT services: 2.57%** |  |  |
| Accenture PLC Class A | 19434 | &nbsp;&nbsp; 5123580 |
| International Business Machines Corp. | 4259 | &nbsp;&nbsp; 1306235 |
|  |  | &nbsp;&nbsp; **6429815** |

---

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

Allspring Special Large Value ETF \| 3

------

Portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Semiconductors & semiconductor equipment: 4.09%** |  |  |
| NXP Semiconductors NV | 18928 | &nbsp;&nbsp; $4280378 |
| Qnity Electronics, Inc. | 27145 | &nbsp;&nbsp; 2610806 |
| Teradyne, Inc. | 13809 | &nbsp;&nbsp; 3328659 |
|  |  | &nbsp;&nbsp; **10219843** |
| **Software: 4.22%** |  |  |
| Cadence Design Systems, Inc.† | 17754 | &nbsp;&nbsp; 5261576 |
| Microsoft Corp. | 12325 | &nbsp;&nbsp; 5303324 |
|  |  | &nbsp;&nbsp; **10564900** |
| **Materials: 5.57%** |  |  |
| **Chemicals: 1.40%** |  |  |
| Sherwin-Williams Co. | 9873 | &nbsp;&nbsp; **3501361** |
| **Construction materials: 4.17%** |  |  |
| Amrize Ltd.† | 125424 | &nbsp;&nbsp; 6599811 |
| Vulcan Materials Co. | 12765 | &nbsp;&nbsp; 3836393 |
|  |  | &nbsp;&nbsp; **10436204** |
| **Real estate: 2.50%** |  |  |
| **Industrial REITs: 1.59%** |  |  |
| Prologis, Inc. | 30538 | &nbsp;&nbsp; **3987041** |
| **Real estate management & development: 0.91%** |  |  |
| CBRE Group, Inc. Class A† | 13362 | &nbsp;&nbsp; **2275950** |
| **Utilities: 3.95%** |  |  |
| **Electric utilities: 3.95%** |  |  |
| NextEra Energy, Inc. | 112379 | &nbsp;&nbsp; **9878114** |
| **Total common stocks (Cost $217,326,246)** |  | &nbsp;&nbsp; **246140535** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | Yield |  |  |
| **Short-term investments: 1.08%** |  |  |  |  |
| **Investment companies: 1.08%** |  |  |  |  |
| Allspring Government Money Market Fund Select Class♠∞ |  | 3.63<br> %<br>| 2708457 | &nbsp;&nbsp; **2708457** |
| **Total short-term investments (Cost $2,708,457)** |  |  |  | &nbsp;&nbsp; **2708457** |
| **Total investments in securities (Cost $220,034,703)** | 99.52<br> %<br>|  |  | &nbsp;&nbsp; 248848992 |
| Other assets and liabilities, net | 0.48 |  |  | &nbsp;&nbsp; 1195993 |
| **Total net assets** | **100.00%**<br>|  |  | &nbsp;&nbsp; **$250044985** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

† Non-income-earning security <br> ♠ The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. <br> ∞ The rate represents the 7-day annualized yield at period end.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> ADR American depositary receipt <br> REIT Real estate investment trust

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

4 \| Allspring Special Large Value ETF

------

Portfolio of investments—January 31, 2026 (unaudited)

**Investments in affiliates**

An affiliated investment is an investment in which the Fund owns at least 5% of the outstanding voting shares of the issuer or as a result of other relationships, such as the Fund and the issuer having the same investment manager. Transactions with issuers that were affiliates of the Fund at the end of the period were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| Allspring Government Money Market Fund Select <br> Class<br>| $3873742 | $32403067 | $(33568352)<br>| $0 | $0 | $2708457 | 2708457 | $83534 |

---

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

Allspring Special Large Value ETF \| 5

------

Statement of assets and liabilities—January 31, 2026 (unaudited)

Financial statements

Statement of assets and liabilities

---

| | |
|:---|:---|
| Assets |  |
| Investments in unaffiliated securities, at value (cost $217,326,246) | $246140535 |
| Investments in affiliated securities, at value (cost $2,708,457) | 2708457 |
| Cash | 112 |
| Receivable for Fund shares sold | 1224868 |
| Receivable for dividends | 52646 |
| **Total assets** | **250126618** |
| Liabilities |  |
| Management fee payable | 81631 |
| Accrued expenses and other liabilities | 2 |
| **Total liabilities** | **81633** |
| **Total net assets**  | **$250044985** |
| Net assets consist of |  |
| Paid-in capital | $209011045 |
| Total distributable earnings | 41033940 |
| **Total net assets** | **$250044985** |
| Net asset value per share |  |
| Based on $250,044,985 divided by 8,610,000 shares issued and outstanding (unlimited number of shares authorized) | $29.04 |

---

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

6 \| Allspring Special Large Value ETF

------

Statement of operations—six months ended January 31, 2026 (unaudited)

Statement of operations

---

| | |
|:---|:---|
| Investment income |  |
| Dividends (net of foreign withholdings taxes of $13,797) | $1955393 |
| Income from affiliated securities | 83534 |
| Interest | 482 |
| **Total investment income** | **2039409** |
| Expenses |  |
| Management fee | 467728 |
| Interest expense | 11 |
| **Total expenses** | **467739** |
| **Net investment income** | **1571670** |
| Realized and unrealized gains (losses) on investments |  |
| Net realized gains (losses) on |  |
| Unaffiliated securities | (2107269)<br>|
| Unaffiliated in-kind redemptions | 14517855 |
| Foreign currency and foreign currency translations | (85)<br>|
| **Net realized gains on investments**  | **12410501** |
| **Net change in unrealized gains (losses) on investments** | **13990612** |
| **Net realized and unrealized gains (losses) on investments** | **26401113** |
| **Net increase in net assets resulting from operations** | **$27972783** |

---

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

Allspring Special Large Value ETF \| 7

------

Statement of changes in net assets

Statement of changes in net assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six months ended<br> January 31, 2026<br> (unaudited) | Six months ended<br> January 31, 2026<br> (unaudited) | Year ended<br> July 31, 2025<sup>1</sup> | Year ended<br> July 31, 2025<sup>1</sup> |
| Operations |  |  |  |  |
| Net investment income |  | &nbsp;&nbsp; $1571670 |  | &nbsp;&nbsp; $681785 |
| Net realized gains on investments |  | &nbsp;&nbsp; 12410501 |  | &nbsp;&nbsp; 4606774 |
| Net change in unrealized gains (losses) on investments |  | &nbsp;&nbsp; 13990612 |  | &nbsp;&nbsp; 14823677 |
| **Net increase in net assets resulting from operations** |  | &nbsp;&nbsp; **27972783** |  | &nbsp;&nbsp; **20112236** |
| Distributions to shareholders from |  |  |  |  |
| Net investment income and net realized gains |  | &nbsp;&nbsp; (2346083)<br>|  | &nbsp;&nbsp; 0 |
| Capital share transactions | Shares |  | &nbsp;&nbsp; Shares |  |
| Proceeds from shares sold | 1596000 | &nbsp;&nbsp; 44348048 | &nbsp;&nbsp; 10605001 | &nbsp;&nbsp; 258425247 |
| Payment for shares redeemed | (2373000)<br>| &nbsp;&nbsp; (67226402)<br>| &nbsp;&nbsp; (1218001)<br>| &nbsp;&nbsp; (31240844)<br>|
| **Net increase (decrease) in net assets resulting from capital share transactions** |  | &nbsp;&nbsp; **(22878354)**<br>|  | &nbsp;&nbsp; **227184403** |
| **Total increase in net assets** |  | &nbsp;&nbsp; **2748346** |  | &nbsp;&nbsp; **247296639** |
| Net assets |  |  |  |  |
| **Beginning of period** |  | &nbsp;&nbsp; **247296639** |  | &nbsp;&nbsp; **0** |
| **End of period** |  | &nbsp;&nbsp; **$250044985** |  | &nbsp;&nbsp; **$247296639** |

---

<sup>1</sup> For the period from March 26, 2025 (commencement of operations) to July 31, 2025

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

8 \| Allspring Special Large Value ETF

------

Financial highlights

Financial highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Six months ended <br>January 31, 2026 <br>(unaudited) | Year ended July 31 |
|  | Six months ended <br>January 31, 2026 <br>(unaudited) | 2025<sup>1</sup> <br>|
| **Net asset value, beginning of period** | **$26.34** | &nbsp;&nbsp; **$24.86** |
| Net investment income | 0.17 <br><sup>2</sup><br>| 0.10 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) on investments | 2.77 | 1.38 |
| Total from investment operations | 2.94 | 1.48 |
| **Distributions to shareholders from** |  |  |
| Net investment income | (0.24)<br>| 0.00 |
| **Net asset value, end of period** | **$29.04** | &nbsp;&nbsp; **$26.34** |
| **Total return**<sup>3</sup> <br>| **11.21%**<br>| **5.95%**<br>|
| **Ratios to average net assets (annualized)** |  |  |
| Expenses | 0.35<br> %<br>| 0.35<br> %<br>|
| Net investment income | 1.18<br> %<br>| 1.17<br> %<br>|
| **Supplemental data** |  |  |
| Portfolio turnover rate<sup>4</sup> <br>| 19<br> %<br>| &nbsp;&nbsp; 6<br> %<br>|
| Net assets, end of period (000s omitted) | $250045 | &nbsp;&nbsp; $247297 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>1</sup> For the period from March 26, 2025 (commencement of operations) to July 31, 2025

<sup>2</sup> Calculated based upon average shares outstanding

<sup>3</sup> Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. 

<sup>4</sup> Portfolio turnover rate excludes in-kind transactions, if any.

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

Allspring Special Large Value ETF \| 9

------

Notes to financial statements (unaudited)

Notes to financial statements

1. ORGANIZATION

Allspring Exchange-Traded Funds Trust (the "Trust"), a Delaware statutory trust organized on June 19, 2014, is an open-end management investment company registered under the Investment Company Act of 1940, as amended ("1940 Act"). As an investment company, the Trust follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*. These financial statements report on the Allspring Special Large Value ETF (the "Fund") which is a diversified series of the Trust.

2. SIGNIFICANT ACCOUNTING POLICIES

The following significant accounting policies, which are consistently followed in the preparation of the financial statements of the Fund, are in conformity with U.S. generally accepted accounting principles ("GAAP") which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

Securities valuation

All investments are valued each business day as of the close of regular trading on the New York Stock Exchange (generally 4 p.m. Eastern Time), although the Fund may deviate from this calculation time under unusual or unexpected circumstances.

Equity securities and exchange-traded funds that are listed on a foreign or domestic exchange or market are valued at the official closing price or, if none, the last sales price.

The values of securities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee at Allspring Funds Management, LLC ("Allspring Funds Management").

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 ("NAV").

Investments which are not valued using the methods discussed above are valued at their fair value, as determined in good faith by Allspring Funds Management, which was named the valuation designee by the Board of Trustees. As the valuation designee, Allspring Funds Management is responsible for day-to-day valuation activities for the Allspring Funds. In connection with these responsibilities, Allspring Funds Management has established a Valuation Committee and has delegated to it the authority to take any actions regarding the valuation of portfolio securities that the Valuation Committee deems necessary or appropriate, including determining the fair value of portfolio securities. On a quarterly basis, the Board of Trustees receives reports of valuation actions taken by the Valuation Committee. On at least an annual basis, the Board of Trustees receives an assessment of the adequacy and effectiveness of Allspring Funds Management's process for determining the fair value of the portfolio of investments.

Foreign currency translation

The accounting records of the Fund are maintained in U.S. dollars. The values of other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee. Purchases and sales of securities, and income and expenses are converted at the rate of exchange on the respective dates of such transactions. Net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the U.S. dollar equivalent of the amounts actually paid or received. Net unrealized foreign exchange gains and losses arise from changes in the fair value of assets and liabilities other than investments in securities resulting from changes in exchange rates. The changes in net assets arising from changes in exchange rates of securities and the changes in net assets resulting from changes in market prices of securities are not separately presented. Such changes are included in net realized and unrealized gains or losses from investments.

Security transactions and income recognition

Securities transactions are recorded on a trade date basis. Realized gains or losses are recorded on the basis of identified cost.

Dividend income is recognized on the ex-dividend date. Dividend income is recorded net of foreign taxes withheld where recovery of such taxes is not assured.

Interest earned on cash balances held at the custodian is recorded as interest income.

Distributions received from REIT investments may be characterized as ordinary income, capital gains, or a return of capital to the Fund based on information provided by the REIT. The proper characterization of REIT distributions is generally not known until after the end of each calendar year. As such, estimates may be used in reporting the character of income and distributions for financial statement purposes.

Distributions to shareholders

Distributions to shareholders are recorded on the ex-dividend date and paid from net investment income monthly and any net realized gains are paid at least annually. Such distributions are determined in accordance with income tax regulations and may differ from U.S. GAAP. Dividend sources are

10 \| Allspring Special Large Value ETF

------

Notes to financial statements (unaudited)

estimated at the time of declaration. The tax character of distributions is determined as of the Fund's fiscal year end. Therefore, a portion of the Fund's distributions made prior to the Fund's fiscal year end may be categorized as a tax return of capital at year end.

Federal and other taxes

The Fund intends to continue to qualify as a regulated investment company by distributing substantially all of its investment company taxable and tax-exempt income and any net realized capital gains (after reduction for capital loss carryforwards) sufficient to relieve it from all, or substantially all, federal income taxes. Accordingly, no provision for federal income taxes was required.

The Fund's income and federal excise tax returns and all financial records supporting those returns for the fiscal years since commencement of operations are subject to examination by the federal and Delaware revenue authorities. Management has analyzed the Fund's tax positions taken on federal, state, and foreign tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability.

For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Fund. Because such gains or losses are not taxable to the Fund and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Fund's tax year. These reclassifications have no effect on net assets or NAV per share.

As of January 31, 2026, the aggregate cost of all investments for federal income tax purposes was $220,054,919 and the unrealized gains (losses) consisted of:

---

| | |
|:---|:---|
| Gross unrealized gains | &nbsp;&nbsp; $32680932 |
| Gross unrealized losses | &nbsp;&nbsp; (3886859)<br>|
| **Net unrealized gains** | &nbsp;&nbsp; **$28794073** |

---

As of July 31, 2025, the Fund had capital loss carryforwards which consisted of $77,946 in short-term capital losses.

Capital share transactions

The Fund issues and redeems its shares, at NAV, only in aggregations of a specified number of shares or multiples thereof ("Creation Units"). Except when aggregated in Creation Units, shares of the Fund are not redeemable. Transactions in capital shares for the Fund are disclosed in detail in the Statement of changes in net assets. The consideration for the purchase of Creation Units of a Fund may be for cash or consist of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Authorized participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to the Trust and/or custodian, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. An additional variable fee may be charged for certain transactions. Such variable charges, if any, are included in "Proceeds from shares sold" and "Payments for shares redeemed" in the Statement of changes in net assets.

When an authorized participant fails to deliver one or more of the securities within a designated basket (in the case of a subscription), fails to deliver the Fund shares (in the case of a redemption), or is required by the Fund, prior to settlement, to accommodate the trading of foreign securities in local markets, the Fund may require the authorized participant to deliver and maintain cash collateral in accordance with the authorized participant agreement. In the event that the authorized participant fails to deliver all or a portion of the applicable deposit securities or Fund securities, the Fund may exercise control over such collateral pursuant to the agreement with the authorized participant in order to purchase the applicable securities.

3. FAIR VALUATION MEASUREMENTS

Fair value measurements of investments are determined within a framework that has established a fair value hierarchy based upon the various data inputs utilized in determining the value of the Fund's investments. The three-level hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The Fund's investments are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement. The inputs are summarized into three broad levels as follows:

• Level 1—quoted prices in active markets for identical securities

• Level 2—other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

• Level 3—significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

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

Allspring Special Large Value ETF \| 11

------

Notes to financial statements (unaudited)

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of January 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Common stocks** |  |  |  |  |
| *Communication services* | &nbsp;&nbsp; $13891917 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $13891917 |
| *Consumer discretionary* | &nbsp;&nbsp; 24217922 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 24217922 |
| *Consumer staples* | &nbsp;&nbsp; 17765890 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 17765890 |
| *Energy* | &nbsp;&nbsp; 15764715 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 15764715 |
| *Financials* | &nbsp;&nbsp; 49349994 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 49349994 |
| *Health care* | &nbsp;&nbsp; 34236690 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 34236690 |
| *Industrials* | &nbsp;&nbsp; 33620179 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 33620179 |
| *Information technology* | &nbsp;&nbsp; 27214558 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 27214558 |
| *Materials* | &nbsp;&nbsp; 13937565 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 13937565 |
| *Real estate* | &nbsp;&nbsp; 6262991 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 6262991 |
| *Utilities* | &nbsp;&nbsp; 9878114 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 9878114 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 2708457 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 2708457 |
| **Total assets** | &nbsp;&nbsp; **$248848992** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$248848992** |

---

Additional sector, industry or geographic detail, if any, is included in the Portfolio of investments.

At January 31, 2026, the Fund did not have any transfers into/out of Level 3.

4. TRANSACTIONS WITH AFFILIATES

Management fee

Allspring Funds Management, a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P., is the manager of the Fund and provides advisory and fund-level administrative services under an investment management agreement. Allspring Funds Management is entitled to receive an annual unitary management fee, generally payable monthly, in an amount equal to 0.35% of the average daily net assets of the Fund. Pursuant to the unitary management fee arrangement, Allspring Funds Management has agreed to pay all expenses incurred by, and appropriately allocated to, the Fund, excluding only: the management fee payable to Allspring Funds Management, brokerage expenses and other expenses incurred in connection with the execution of portfolio transactions; interest charges on any borrowings, dividends and other expenses on securities sold short; taxes; payments under the Fund's Rule 12b-1 plan; proxy and shareholder meeting expenses; litigation expenses; extraordinary expenses; and acquired fund fees and expenses.

Allspring Funds Management has retained the services of a subadviser to provide daily portfolio management to the Fund. The fee for subadvisory services is borne by Allspring Funds Management. Allspring Global Investments, LLC, an affiliate of Allspring Funds Management and a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, is the subadviser to the Fund.

For the six months ended January 31, 2026, the management fee was equivalent to an annual rate of 0.35% of the Fund's average daily net assets.

Distribution fee

Allspring Funds Distributor, LLC (the "Distributor"), the principal underwriter, an affiliate of Allspring Funds Management, serves as the exclusive distributor of the Fund's shares. The Distributor does not maintain a secondary market in the Fund's shares. The Fund has adopted a distribution plan pursuant to Rule 12b-1 under the 1940 Act pursuant to which the Fund is authorized to pay fees at an annual rate of up to 0.25% of the Fund's average daily net assets for the sale and distribution of the Fund's shares. The Fund's Board of Trustees has determined not to implement a distribution fee pursuant to the distribution plan at this time. The distribution fee may only be imposed after approval by the Fund's Board of Trustees.

Interfund transactions

The Fund may purchase or sell portfolio investment securities to certain affiliates pursuant to Rule 17a-7 under the 1940 Act and under procedures adopted by the Board of Trustees. The procedures have been designed to ensure that these interfund transactions, which do not incur broker commissions, are effected at current market prices. Pursuant to these procedures, the Fund did not have any interfund transactions for the six months ended January 31, 2026.

12 \| Allspring Special Large Value ETF

------

Notes to financial statements (unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments, excluding short-term securities, for the six months ended January 31, 2026 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| Purchases at cost | Purchases at cost | Sales Proceeds | Sales Proceeds |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>| IN-KIND | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>| IN-KIND |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $82335199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $8359619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $48129309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $65123869 |

---

6. INDEMNIFICATION

Under the Fund's organizational documents, the officers and Trustees have been granted certain indemnification rights against certain liabilities that may arise out of performance of their duties to the Fund. The Fund has entered into a separate agreement with each Trustee that converts indemnification rights currently existing under the Fund's organizational documents into contractual rights that cannot be changed in the future without the consent of the Trustee. Additionally, in the normal course of business, the Fund may enter into contracts with service providers that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is dependent on future claims that may be made against the Fund and, therefore, cannot be estimated.

7. OPERATING SEGMENTS

The Fund operates as a single operating segment. An operating segment is defined as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The President of the Fund acts as the Fund's CODM. The CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation from which it derives its revenues is determined as outlined in the Fund's prospectus which is executed by the Fund's portfolio management team. The portfolio composition, total return and expense ratios, and the components of total increase/decrease in net assets are used by the CODM to assess the segment's performance and to make resource allocation decisions for the Fund's single segment. This information is consistent with that presented within the Fund's financial statements. Segment assets are reflected on the accompanying Statement of assets and liabilities as "total assets" and significant segment revenue and expenses are listed on the accompanying Statement of operations.

8. NEW ACCOUNTING PRONOUNCEMENT

In December 2023, the FASB issued Accounting Standards Update ("ASU") 2023-09, *Income Taxes (Topic 740): Improvements to Income Tax Disclosures.* The ASU includes amendments to enhance annual income tax disclosures required for public entities, including the requirement to disclose income taxes paid disaggregated by jurisdiction. The ASU is effective for annual periods beginning after December 15, 2024. Management has determined that there is no material impact of the ASU on the Fund's financial statements.

Allspring Special Large Value ETF \| 13

------

Other information (unaudited)

Other information

Proxy voting information

A description of the policies and procedures used to determine how to vote proxies relating to portfolio securities is available, upon request, by calling **1-866-259-3305**, visiting our website at **allspringglobal.com**, or visiting the SEC website at sec.gov. Information regarding how the proxies related to portfolio securities were voted during the most recent 12-month period ended June 30 is available on the website at **allspringglobal.com** or by visiting the SEC website at sec.gov.

Quarterly portfolio holdings information

The Fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. Shareholders may view the filed Form N-PORT by visiting the SEC website at sec.gov. The Fund's portfolio holdings information is also available on our website at **allspringglobal.com**.

14 \| Allspring Special Large Value ETF

------

Other information (unaudited)

Item 8. Changes in and disagreements with accountants

Not applicable

Item 9. Matters submitted to fund shareholders for a vote

Not applicable

Item 10. Remuneration paid to directors, officers and others

Refer to information in the Statement of operations.

Item 11. Statement regarding basis for the board's approval of investment advisory contract

Not applicable

Allspring Special Large Value ETF \| 15

------

*This page is intentionally left blank.*

------

![](g69856imgc52aa2611.jpg)

For more information

More information about Allspring Funds is available free upon request. To obtain literature, please write, visit the Fund's website, or call:

Allspring Funds Distributor, LLC

1415 Vantage Park Drive, 3rd Floor

Charlotte, NC 28203

Website: **allspringglobal.com**

Telephone:1-866-701-2575

![](g69856img954e52982.gif)

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. If this report is used for promotional purposes, distribution of the report must be accompanied or preceded by a current prospectus. Before investing, please consider the investment objectives, risks, charges, and expenses of the investment. For a current prospectus and, if available, a summary prospectus, containing this information, call* ***1-866-701-2575*** *or visit the Fund's website at* ***allspringglobal.com****. Read the prospectus carefully before you invest or send money.*

Allspring Global Investments<sup>TM</sup> is the trade name for the asset management firms of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P. These firms include but are not limited to Allspring Global Investments, LLC, and Allspring Funds Management, LLC. Certain products managed by Allspring entities are distributed by Allspring Funds Distributor, LLC (a broker-dealer and Member FINRA/SIPC).

This material is for general informational and educational purposes only and is NOT intended to provide investment advice or a recommendation of any kind - including a recommendation for any specific investment, strategy, or plan.

**© 2026 Allspring Global Investments Holdings, LLC. All rights reserved.**

**NCSRSASLV 01-26**

------

<u>ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES</u> 

Changes in and Disagreements with Accountants for Open-End Management Investment Companies are included as part of the Financial Statements filed under Item 7(a) of this Form.

<u>ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES</u> 

Proxy Disclosures for Open-End Management Investment Companies are included as part of the Financial Statements filed under Item 7(a) of this Form.

<u>ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES</u> 

Renumeration Paid to Directors, Officers, and Others of Open-End Investment Companies is included as part of the Financial Statements filed under Item 7(a) of this Form.

------

<u>ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT</u> 

The registrant's Statement Regarding Basis for Approval of Investment Advisory Contract is included as part of the Financial Statements filed under Item 7(a) of this Form.

<u>ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES</u> 

Not applicable.

<u>ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES</u> 

Not applicable.

<u>ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS</u> 

Not applicable.

<u>ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS</u> 

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's Board of Trustees that have been implemented since the registrant's last provided disclosure in response to the requirements of this Item.

<u>ITEM 16. CONTROLS AND PROCEDURES</u> 

(a) The President and Treasurer have concluded that the Allspring Exchange-Traded Funds Trust disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) provide reasonable assurances that material information relating to the registrant is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing of this report.

(b) There were no significant changes in the registrant's internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

<u>ITEM 17. DISCLOSURES OF SECURITIES LENDING ACTIVITES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES</u> 

Not applicable.

<u>ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION</u> 

Not applicable.

------

<u>ITEM 19. EXHIBITS</u> 

(a)(1) Not applicable.

(a)(2) Not applicable.

(a)(3) [Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2022.](d69856dex99cert.htm)

(a)(4) Not applicable.

(a)(5) Not applicable.

(b) [Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2022.](d69856dex99906cert.htm)

(101) Inline Interactive Data File—the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the inline XBRL document.

------

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
| Allspring Exchange-Traded Funds Trust | Allspring Exchange-Traded Funds Trust |
| By: | /s/ John Kenney |
|  | John Kenney |
|  | President (Principal Executive Officer) |
| Date: March 26, 2026 | Date: March 26, 2026 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the date indicated.

---

| | |
|:---|:---|
| Allspring Exchange-Traded Funds Trust | Allspring Exchange-Traded Funds Trust |
| By: | /s/ John Kenney |
|  | John Kenney |
|  | President (Principal Executive Officer) |
| Date: March 26, 2026 | Date: March 26, 2026 |

---

---

| | |
|:---|:---|
| By: | /s/ Jeremy DePalma |
|  | Jeremy DePalma |
|  | Treasurer (Principal Financial Officer) |
| Date: March 26, 2026 | Date: March 26, 2026 |

---

## Ex-99.Cert

**Exhibit 19(a)(3)**![LOGO](g69856g0328072132879.jpg)

**<u>CERTIFICATION</u>**

I, John Kenney, certify that:

1. I have reviewed this report on Form N-CSRS of Allspring LT Large Core ETF, Allspring LT Large Growth ETF, and Allspring Special Large Value ETF;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officers and I have disclosed to the registrant's auditors and the audit committee of the registrant's Board of Trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| |
|:---|
| Date: March 26, 2026 |
| /s/ John Kenney |
| John Kenney |
| President (Principal Executive Officer) |
| Allspring Exchange-Traded Funds Trust |

---

------

![LOGO](g69856g0328072132879.jpg)

**<u>CERTIFICATION</u>**

I, Jeremy DePalma, certify that:

1. I have reviewed this report on Form N-CSRS of Allspring LT Large Core ETF, Allspring LT Large Growth ETF, and Allspring Special Large Value ETF;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officers and I have disclosed to the registrant's auditors and the audit committee of the registrant's Board of Trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| |
|:---|
| Date: March 26, 2026 |
| /s/ Jeremy DePalma |
| Jeremy DePalma |
| Treasurer (Principal Financial Officer) |
| Allspring Exchange-Traded Funds Trust |

---

## Exhibit 99.906

**Exhibit 19(b)**![LOGO](g69856g0328072132879.jpg)

**<u>SECTION 906 CERTIFICATION</u>**

Pursuant to 18 U.S.C. § 1350, the undersigned officer of Allspring Exchange-Traded Funds Trust, hereby certifies, to the best of his knowledge, that the registrant's report on Form N-CSRS for the six months ended January 31, 2026 (the "Report") fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant.

Date: March 26, 2026

---

| | |
|:---|:---|
| By: | /s/ John Kenney |
|  | John Kenney |
|  | President (Principal Executive Officer) |
|  | Allspring Exchange-Traded Funds Trust |

---

This certification is being furnished to the Securities and Exchange Commission pursuant to Rule 30a-2(b) under the Investment Company Act of 1940, as amended, and 18 U.S.C. Section 1350 and is not being filed as part of the Form N-CSRS with the Securities and Exchange Commission.

------

![LOGO](g69856g0328072132879.jpg)

**<u>SECTION 906 CERTIFICATION</u>**

Pursuant to 18 U.S.C. § 1350, the undersigned officer of Allspring Exchange-Traded Funds Trust, hereby certifies, to the best of his knowledge, that the registrant's report on Form N-CSRS for the six months ended January 31, 2026 (the "Report") fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant.

Date: March 26, 2026

---

| | |
|:---|:---|
| By: | /s/ Jeremy DePalma |
|  | Jeremy DePalma |
|  | Treasurer (Principal Financial Officer) |
|  | Allspring Exchange-Traded Funds Trust |

---

This certification is being furnished to the Securities and Exchange Commission pursuant to Rule 30a-2(b) under the Investment Company Act of 1940, as amended, and 18 U.S.C. Section 1350 and is not being filed as part of the Form N-CSRS with the Securities and Exchange Commission.