# EDGAR Filing Document

**Accession Number:** 0001087961
**File Stem:** 0001410368-26-032033
**Filing Date:** 2026-3
**Character Count:** 260000
**Document Hash:** e9daf21b18715fd777fb90d384614939
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-032033.hdr.sgml**: 20260326

**ACCESSION NUMBER**: 0001410368-26-032033

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260326

**DATE AS OF CHANGE**: 20260326

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALLSPRING MASTER TRUST
- **CENTRAL INDEX KEY:** 0001087961

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09689
- **FILM NUMBER:** 26796833

**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:** WELLS FARGO MASTER TRUST
- **DATE OF NAME CHANGE:** 20021209

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WELLS FARGO CORE TRUST
- **DATE OF NAME CHANGE:** 19990604

## Series and Classes Contracts Data

### Allspring Real Return Portfolio (Series ID: S000007549)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000020607 | Real Return Portfolio |  |

## Nport-Ex

Consolidated portfolio of investments—January 31, 2026 (unaudited)

Consolidated portfolio of investments

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

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Common stocks: 25.60%** |  |  |
| **Communication services: 1.48%** |  |  |
| **Entertainment: 0.43%** |  |  |
| &nbsp;&nbsp;&nbsp; Netflix, Inc.† | 10360 | &nbsp;&nbsp; $864956 |
| &nbsp;&nbsp;&nbsp; Spotify Technology SA† | 671 | &nbsp;&nbsp; 335735 |
| &nbsp;&nbsp;&nbsp; TKO Group Holdings, Inc. Class A | 2300 | &nbsp;&nbsp; 465934 |
|  |  | &nbsp;&nbsp; **1666625** |
| **Interactive media & services: 0.83%** |  |  |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. Class A | 8565 | &nbsp;&nbsp; 2894970 |
| &nbsp;&nbsp;&nbsp; Pinterest, Inc. Class A† | 15800 | &nbsp;&nbsp; 349654 |
|  |  | &nbsp;&nbsp; **3244624** |
| **Media: 0.22%** |  |  |
| &nbsp;&nbsp;&nbsp; Fox Corp. Class A | 11700 | &nbsp;&nbsp; **851526** |
| **Consumer discretionary: 1.66%** |  |  |
| **Broadline retail: 0.50%** |  |  |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc.† | 8190 | &nbsp;&nbsp; **1959867** |
| **Hotels, restaurants & leisure: 0.15%** |  |  |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc. Class A† | 2948 | &nbsp;&nbsp; **603220** |
| **Household durables: 0.31%** |  |  |
| &nbsp;&nbsp;&nbsp; PulteGroup, Inc. | 6444 | &nbsp;&nbsp; 806080 |
| &nbsp;&nbsp;&nbsp; Sony Group Corp. ADR | 17326 | &nbsp;&nbsp; 382905 |
|  |  | &nbsp;&nbsp; **1188985** |
| **Specialty retail: 0.51%** |  |  |
| &nbsp;&nbsp;&nbsp; Carvana Co. Class A† | 655 | &nbsp;&nbsp; 262727 |
| &nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc.† | 7564 | &nbsp;&nbsp; 744373 |
| &nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.† | 1500 | &nbsp;&nbsp; 971040 |
|  |  | &nbsp;&nbsp; **1978140** |
| **Textiles, apparel & luxury goods: 0.19%** |  |  |
| &nbsp;&nbsp;&nbsp; Deckers Outdoor Corp.† | 6097 | &nbsp;&nbsp; **727616** |
| **Consumer staples: 0.59%** |  |  |
| **Beverages: 0.41%** |  |  |
| &nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc. | 28328 | &nbsp;&nbsp; 777321 |
| &nbsp;&nbsp;&nbsp; Monster Beverage Corp.† | 10253 | &nbsp;&nbsp; 828032 |
|  |  | &nbsp;&nbsp; **1605353** |
| **Consumer staples distribution & retail: 0.18%** |  |  |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 741 | &nbsp;&nbsp; **696725** |
| **Energy: 0.79%** |  |  |
| **Energy equipment & services: 0.21%** |  |  |
| &nbsp;&nbsp;&nbsp; Baker Hughes Co. Class A | 14198 | &nbsp;&nbsp; **795656** |

---

See accompanying consolidated notes to portfolio of investments

Allspring Real Return Portfolio \| 1

------

Consolidated portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Oil, gas & consumable fuels: 0.58%** |  |  |
| &nbsp;&nbsp;&nbsp; Cheniere Energy, Inc. | 2000 | &nbsp;&nbsp; $423040 |
| &nbsp;&nbsp;&nbsp; EOG Resources, Inc. | 7773 | &nbsp;&nbsp; 871586 |
| &nbsp;&nbsp;&nbsp; Valero Energy Corp. | 5277 | &nbsp;&nbsp; 957406 |
|  |  | &nbsp;&nbsp; **2252032** |
| **Financials: 2.16%** |  |  |
| **Banks: 0.74%** |  |  |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp | 28610 | &nbsp;&nbsp; 1436794 |
| &nbsp;&nbsp;&nbsp; First Citizens BancShares, Inc. Class A | 350 | &nbsp;&nbsp; 724349 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. | 2267 | &nbsp;&nbsp; 693453 |
|  |  | &nbsp;&nbsp; **2854596** |
| **Capital markets: 0.76%** |  |  |
| &nbsp;&nbsp;&nbsp; Coinbase Global, Inc. Class A† | 1022 | &nbsp;&nbsp; 199025 |
| &nbsp;&nbsp;&nbsp; Interactive Brokers Group, Inc. Class A | 11973 | &nbsp;&nbsp; 896538 |
| &nbsp;&nbsp;&nbsp; Jefferies Financial Group, Inc. | 15800 | &nbsp;&nbsp; 966644 |
| &nbsp;&nbsp;&nbsp; Robinhood Markets, Inc. Class A† | 3475 | &nbsp;&nbsp; 345693 |
| &nbsp;&nbsp;&nbsp; Virtu Financial, Inc. Class A | 13500 | &nbsp;&nbsp; 560385 |
|  |  | &nbsp;&nbsp; **2968285** |
| **Insurance: 0.41%** |  |  |
| &nbsp;&nbsp;&nbsp; Arch Capital Group Ltd.† | 8354 | &nbsp;&nbsp; 802318 |
| &nbsp;&nbsp;&nbsp; Brown & Brown, Inc. | 10936 | &nbsp;&nbsp; 788486 |
|  |  | &nbsp;&nbsp; **1590804** |
| **Mortgage real estate investment trusts (REITs): 0.25%** |  |  |
| &nbsp;&nbsp;&nbsp; Annaly Capital Management, Inc. | 42801 | &nbsp;&nbsp; **984851** |
| **Health care: 1.88%** |  |  |
| **Biotechnology: 0.33%** |  |  |
| &nbsp;&nbsp;&nbsp; Exelixis, Inc.† | 13000 | &nbsp;&nbsp; 537680 |
| &nbsp;&nbsp;&nbsp; United Therapeutics Corp.† | 1550 | &nbsp;&nbsp; 727710 |
|  |  | &nbsp;&nbsp; **1265390** |
| **Health care equipment & supplies: 0.40%** |  |  |
| &nbsp;&nbsp;&nbsp; Alcon AG | 11533 | &nbsp;&nbsp; 933942 |
| &nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp.† | 7616 | &nbsp;&nbsp; 619638 |
|  |  | &nbsp;&nbsp; **1553580** |
| **Health care providers & services: 0.45%** |  |  |
| &nbsp;&nbsp;&nbsp; Labcorp Holdings, Inc. | 4308 | &nbsp;&nbsp; 1169708 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp.† | 3100 | &nbsp;&nbsp; 586768 |
|  |  | &nbsp;&nbsp; **1756476** |
| **Life sciences tools & services: 0.21%** |  |  |
| &nbsp;&nbsp;&nbsp; Charles River Laboratories International, Inc.† | 3932 | &nbsp;&nbsp; **827607** |

---

See accompanying consolidated notes to portfolio of investments

2 \| Allspring Real Return Portfolio

------

Consolidated portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Pharmaceuticals: 0.49%** |  |  |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | 17081 | &nbsp;&nbsp; $940309 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. | 940 | &nbsp;&nbsp; 974921 |
|  |  | &nbsp;&nbsp; **1915230** |
| **Industrials: 2.80%** |  |  |
| **Aerospace & defense: 0.37%** |  |  |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. | 2276 | &nbsp;&nbsp; 780326 |
| &nbsp;&nbsp;&nbsp; StandardAero, Inc.† | 20757 | &nbsp;&nbsp; 641184 |
|  |  | &nbsp;&nbsp; **1421510** |
| **Commercial services & supplies: 0.21%** |  |  |
| &nbsp;&nbsp;&nbsp; Republic Services, Inc. Class A | 3868 | &nbsp;&nbsp; **831968** |
| **Construction & engineering: 0.38%** |  |  |
| &nbsp;&nbsp;&nbsp; EMCOR Group, Inc. | 2054 | &nbsp;&nbsp; **1480379** |
| **Ground transportation: 0.34%** |  |  |
| &nbsp;&nbsp;&nbsp; Canadian Pacific Kansas City Ltd. | 10800 | &nbsp;&nbsp; 802872 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc.† | 6500 | &nbsp;&nbsp; 520325 |
|  |  | &nbsp;&nbsp; **1323197** |
| **Machinery: 0.47%** |  |  |
| &nbsp;&nbsp;&nbsp; Gates Industrial Corp. PLC† | 36163 | &nbsp;&nbsp; 832472 |
| &nbsp;&nbsp;&nbsp; Symbotic, Inc. Class A† | 3520 | &nbsp;&nbsp; 191382 |
| &nbsp;&nbsp;&nbsp; Toro Co. | 8981 | &nbsp;&nbsp; 821762 |
|  |  | &nbsp;&nbsp; **1845616** |
| **Passenger airlines: 0.16%** |  |  |
| &nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc.† | 6000 | &nbsp;&nbsp; **613920** |
| **Professional services: 0.31%** |  |  |
| &nbsp;&nbsp;&nbsp; Jacobs Solutions, Inc. | 4991 | &nbsp;&nbsp; 675083 |
| &nbsp;&nbsp;&nbsp; Leidos Holdings, Inc. | 2746 | &nbsp;&nbsp; 517017 |
|  |  | &nbsp;&nbsp; **1192100** |
| **Trading companies & distributors: 0.56%** |  |  |
| &nbsp;&nbsp;&nbsp; AerCap Holdings NV | 7924 | &nbsp;&nbsp; 1138362 |
| &nbsp;&nbsp;&nbsp; WESCO International, Inc. | 3600 | &nbsp;&nbsp; 1041948 |
|  |  | &nbsp;&nbsp; **2180310** |
| **Information technology: 4.85%** |  |  |
| **Communications equipment: 0.34%** |  |  |
| &nbsp;&nbsp;&nbsp; Arista Networks, Inc.† | 9384 | &nbsp;&nbsp; **1330088** |
| **Electronic equipment, instruments & components: 0.52%** |  |  |
| &nbsp;&nbsp;&nbsp; Amphenol Corp. Class A | 8922 | &nbsp;&nbsp; 1285482 |
| &nbsp;&nbsp;&nbsp; TD SYNNEX Corp. | 4700 | &nbsp;&nbsp; 745749 |
|  |  | &nbsp;&nbsp; **2031231** |

---

See accompanying consolidated notes to portfolio of investments

Allspring Real Return Portfolio \| 3

------

Consolidated portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **IT services: 0.34%** |  |  |
| &nbsp;&nbsp;&nbsp; Okta, Inc.† | 6561 | &nbsp;&nbsp; $554273 |
| &nbsp;&nbsp;&nbsp; Twilio, Inc. Class A† | 6205 | &nbsp;&nbsp; 747455 |
|  |  | &nbsp;&nbsp; **1301728** |
| **Semiconductors & semiconductor equipment: 2.15%** |  |  |
| &nbsp;&nbsp;&nbsp; Astera Labs, Inc.† | 1520 | &nbsp;&nbsp; 228942 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | 7104 | &nbsp;&nbsp; 2353555 |
| &nbsp;&nbsp;&nbsp; KLA Corp. | 684 | &nbsp;&nbsp; 976711 |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | 12985 | &nbsp;&nbsp; 2481823 |
| &nbsp;&nbsp;&nbsp; ON Semiconductor Corp.† | 10513 | &nbsp;&nbsp; 629624 |
| &nbsp;&nbsp;&nbsp; Teradyne, Inc. | 7064 | &nbsp;&nbsp; 1702777 |
|  |  | &nbsp;&nbsp; **8373432** |
| **Software: 1.06%** |  |  |
| &nbsp;&nbsp;&nbsp; AppLovin Corp. Class A† | 802 | &nbsp;&nbsp; 379434 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | 7015 | &nbsp;&nbsp; 3018484 |
| &nbsp;&nbsp;&nbsp; Nutanix, Inc. Class A† | 7645 | &nbsp;&nbsp; 300678 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 2539 | &nbsp;&nbsp; 417869 |
|  |  | &nbsp;&nbsp; **4116465** |
| **Technology hardware, storage & peripherals: 0.44%** |  |  |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | 4684 | &nbsp;&nbsp; 1215404 |
| &nbsp;&nbsp;&nbsp; Dell Technologies, Inc. Class C | 4256 | &nbsp;&nbsp; 487057 |
|  |  | &nbsp;&nbsp; **1702461** |
| **Materials: 4.09%** |  |  |
| **Construction materials: 0.31%** |  |  |
| &nbsp;&nbsp;&nbsp; Vulcan Materials Co. | 4044 | &nbsp;&nbsp; **1215384** |
| **Containers & packaging: 0.17%** |  |  |
| &nbsp;&nbsp;&nbsp; Graphic Packaging Holding Co. | 44089 | &nbsp;&nbsp; **645904** |
| **Metals & mining: 3.61%** |  |  |
| &nbsp;&nbsp;&nbsp; Agnico Eagle Mines Ltd. | 2401 | &nbsp;&nbsp; 456413 |
| &nbsp;&nbsp;&nbsp; Agnico Eagle Mines Ltd.-U.S. Exchange Traded Shares | 4225 | &nbsp;&nbsp; 804862 |
| &nbsp;&nbsp;&nbsp; Alamos Gold, Inc. Class A | 15000 | &nbsp;&nbsp; 555870 |
| &nbsp;&nbsp;&nbsp; Anglogold Ashanti PLC | 6800 | &nbsp;&nbsp; 631516 |
| &nbsp;&nbsp;&nbsp; Artemis Gold, Inc.† | 16000 | &nbsp;&nbsp; 463908 |
| &nbsp;&nbsp;&nbsp; B2Gold Corp. | 12000 | &nbsp;&nbsp; 58429 |
| &nbsp;&nbsp;&nbsp; Barrick Mining Corp. | 18036 | &nbsp;&nbsp; 825868 |
| &nbsp;&nbsp;&nbsp; Coeur Mining, Inc.† | 9003 | &nbsp;&nbsp; 184021 |
| &nbsp;&nbsp;&nbsp; DPM Metals, Inc. | 14000 | &nbsp;&nbsp; 488481 |
| &nbsp;&nbsp;&nbsp; Eldorado Gold Corp.† | 6300 | &nbsp;&nbsp; 270294 |
| &nbsp;&nbsp;&nbsp; Endeavour Mining PLC | 11380 | &nbsp;&nbsp; 621297 |
| &nbsp;&nbsp;&nbsp; Equinox Gold Corp.† | 9050 | &nbsp;&nbsp; 129471 |
| &nbsp;&nbsp;&nbsp; Evolution Mining Ltd. | 8000 | &nbsp;&nbsp; 81946 |
| &nbsp;&nbsp;&nbsp; Franco-Nevada Corp. | 1500 | &nbsp;&nbsp; 351125 |
| &nbsp;&nbsp;&nbsp; G Mining Ventures Corp.† | 17500 | &nbsp;&nbsp; 554823 |
| &nbsp;&nbsp;&nbsp; Gold Fields Ltd. ADR | 11800 | &nbsp;&nbsp; 591416 |
| &nbsp;&nbsp;&nbsp; IAMGOLD Corp.† | 37300 | &nbsp;&nbsp; 676887 |

---

See accompanying consolidated notes to portfolio of investments

4 \| Allspring Real Return Portfolio

------

Consolidated portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Metals & mining**(continued) |  |  |
| &nbsp;&nbsp;&nbsp; Kinross Gold Corp. | 35000 | &nbsp;&nbsp; $1102192 |
| &nbsp;&nbsp;&nbsp; Lundin Gold, Inc. | 9000 | &nbsp;&nbsp; 674711 |
| &nbsp;&nbsp;&nbsp; New Gold, Inc.† | 23000 | &nbsp;&nbsp; 231073 |
| &nbsp;&nbsp;&nbsp; Newmont Corp. | 11000 | &nbsp;&nbsp; 1235850 |
| &nbsp;&nbsp;&nbsp; Northern Star Resources Ltd. | 13000 | &nbsp;&nbsp; 261981 |
| &nbsp;&nbsp;&nbsp; OceanaGold Corp. | 12966 | &nbsp;&nbsp; 420123 |
| &nbsp;&nbsp;&nbsp; OR Royalties, Inc. | 3500 | &nbsp;&nbsp; 138005 |
| &nbsp;&nbsp;&nbsp; Orla Mining Ltd. | 12500 | &nbsp;&nbsp; 188558 |
| &nbsp;&nbsp;&nbsp; Pan American Silver Corp. | 1765 | &nbsp;&nbsp; 96167 |
| &nbsp;&nbsp;&nbsp; Pan American Silver Corp.-U.S. Exchange Traded Shares | 6200 | &nbsp;&nbsp; 338520 |
| &nbsp;&nbsp;&nbsp; Royal Gold, Inc. | 1100 | &nbsp;&nbsp; 289641 |
| &nbsp;&nbsp;&nbsp; Skeena Resources Ltd.† | 7000 | &nbsp;&nbsp; 199721 |
| &nbsp;&nbsp;&nbsp; Snowline Gold Corp.† | 11000 | &nbsp;&nbsp; 137657 |
| &nbsp;&nbsp;&nbsp; Torex Gold Resources, Inc. | 8800 | &nbsp;&nbsp; 423568 |
| &nbsp;&nbsp;&nbsp; Wheaton Precious Metals Corp. | 4100 | &nbsp;&nbsp; 540153 |
|  |  | &nbsp;&nbsp; **14024547** |
| **Real estate: 4.73%** |  |  |
| **Health care REITs: 0.51%** |  |  |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. | 3187 | &nbsp;&nbsp; 174138 |
| &nbsp;&nbsp;&nbsp; Welltower, Inc. | 9667 | &nbsp;&nbsp; 1820876 |
|  |  | &nbsp;&nbsp; **1995014** |
| **Industrial REITs: 0.80%** |  |  |
| &nbsp;&nbsp;&nbsp; First Industrial Realty Trust, Inc. | 8632 | &nbsp;&nbsp; 500915 |
| &nbsp;&nbsp;&nbsp; Prologis, Inc. | 12746 | &nbsp;&nbsp; 1664118 |
| &nbsp;&nbsp;&nbsp; Rexford Industrial Realty, Inc. | 8369 | &nbsp;&nbsp; 339195 |
| &nbsp;&nbsp;&nbsp; Terreno Realty Corp. | 9703 | &nbsp;&nbsp; 597123 |
|  |  | &nbsp;&nbsp; **3101351** |
| **Office REITs: 0.14%** |  |  |
| &nbsp;&nbsp;&nbsp; BXP, Inc. | 8157 | &nbsp;&nbsp; **527513** |
| **Real estate management & development: 0.17%** |  |  |
| &nbsp;&nbsp;&nbsp; CBRE Group, Inc. Class A† | 3789 | &nbsp;&nbsp; **645380** |
| **Residential REITs: 0.85%** |  |  |
| &nbsp;&nbsp;&nbsp; American Homes 4 Rent Class A | 14707 | &nbsp;&nbsp; 460623 |
| &nbsp;&nbsp;&nbsp; Camden Property Trust | 4549 | &nbsp;&nbsp; 496069 |
| &nbsp;&nbsp;&nbsp; Equity LifeStyle Properties, Inc. | 7960 | &nbsp;&nbsp; 502833 |
| &nbsp;&nbsp;&nbsp; Independence Realty Trust, Inc. | 18040 | &nbsp;&nbsp; 301268 |
| &nbsp;&nbsp;&nbsp; Invitation Homes, Inc. | 17628 | &nbsp;&nbsp; 471196 |
| &nbsp;&nbsp;&nbsp; Mid-America Apartment Communities, Inc. | 4196 | &nbsp;&nbsp; 563523 |
| &nbsp;&nbsp;&nbsp; Sun Communities, Inc. | 3950 | &nbsp;&nbsp; 503349 |
|  |  | &nbsp;&nbsp; **3298861** |

---

See accompanying consolidated notes to portfolio of investments

Allspring Real Return Portfolio \| 5

------

Consolidated portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Retail REITs: 0.29%** |  |  |
| &nbsp;&nbsp;&nbsp; Federal Realty Investment Trust | 2367 | &nbsp;&nbsp; $239446 |
| &nbsp;&nbsp;&nbsp; Simon Property Group, Inc. | 4565 | &nbsp;&nbsp; 873330 |
|  |  | &nbsp;&nbsp; **1112776** |
| **Specialized REITs: 1.97%** |  |  |
| &nbsp;&nbsp;&nbsp; American Tower Corp. | 7697 | &nbsp;&nbsp; 1379918 |
| &nbsp;&nbsp;&nbsp; Crown Castle, Inc. | 4153 | &nbsp;&nbsp; 360522 |
| &nbsp;&nbsp;&nbsp; CubeSmart | 8457 | &nbsp;&nbsp; 317391 |
| &nbsp;&nbsp;&nbsp; Equinix, Inc. | 1867 | &nbsp;&nbsp; 1532676 |
| &nbsp;&nbsp;&nbsp; Extra Space Storage, Inc. | 5297 | &nbsp;&nbsp; 730827 |
| &nbsp;&nbsp;&nbsp; Four Corners Property Trust, Inc. | 8558 | &nbsp;&nbsp; 210955 |
| &nbsp;&nbsp;&nbsp; Gaming & Leisure Properties, Inc. | 6242 | &nbsp;&nbsp; 279330 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc. | 7819 | &nbsp;&nbsp; 720364 |
| &nbsp;&nbsp;&nbsp; SBA Communications Corp. Class A | 3744 | &nbsp;&nbsp; 689308 |
| &nbsp;&nbsp;&nbsp; VICI Properties, Inc. Class A | 20631 | &nbsp;&nbsp; 579319 |
| &nbsp;&nbsp;&nbsp; Weyerhaeuser Co. | 34007 | &nbsp;&nbsp; 876700 |
|  |  | &nbsp;&nbsp; **7677310** |
| **Utilities: 0.57%** |  |  |
| **Electric utilities: 0.42%** |  |  |
| &nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. | 5936 | &nbsp;&nbsp; 710984 |
| &nbsp;&nbsp;&nbsp; FirstEnergy Corp. | 19444 | &nbsp;&nbsp; 920479 |
|  |  | &nbsp;&nbsp; **1631463** |
| **Water utilities: 0.15%** |  |  |
| &nbsp;&nbsp;&nbsp; American Water Works Co., Inc. | 4420 | &nbsp;&nbsp; **570755** |
| **Total common stocks (Cost $73,010,728)** |  | &nbsp;&nbsp; **99477851** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest <br>rate<br>| Maturity <br>date<br>| Principal |  |
| **Corporate bonds and notes: 6.24%** |  |  |  |  |
| **Basic materials: 0.25%** |  |  |  |  |
| **Chemicals: 0.16%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Celanese U.S. Holdings LLC | 6.50<br> %<br>| &nbsp;&nbsp; 4-15-2030 | $115000 | &nbsp;&nbsp; 117002 |
| &nbsp;&nbsp;&nbsp; Celanese U.S. Holdings LLC | 6.85 | &nbsp;&nbsp; 11-15-2028 | 60000 | &nbsp;&nbsp; 62987 |
| &nbsp;&nbsp;&nbsp; Chemours Co. | 5.38 | &nbsp;&nbsp; 5-15-2027 | 205000 | &nbsp;&nbsp; 206354 |
| &nbsp;&nbsp;&nbsp; Chemours Co.144A | 5.75 | &nbsp;&nbsp; 11-15-2028 | 75000 | &nbsp;&nbsp; 74378 |
| &nbsp;&nbsp;&nbsp; SCIH Salt Holdings, Inc.144A | 4.88 | &nbsp;&nbsp; 5-1-2028 | 145000 | &nbsp;&nbsp; 144648 |
|  |  |  |  | &nbsp;&nbsp; **605369** |
| **Iron/steel: 0.09%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc.144A | 6.88 | &nbsp;&nbsp; 11-1-2029 | 330000 | &nbsp;&nbsp; **342939** |
| **Communications: 0.67%** |  |  |  |  |
| **Advertising: 0.10%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.144A | 7.13 | &nbsp;&nbsp; 2-15-2031 | 155000 | &nbsp;&nbsp; 161634 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC/Outfront Media Capital Corp.144A | 5.00 | &nbsp;&nbsp; 8-15-2027 | 215000 | &nbsp;&nbsp; 214956 |
|  |  |  |  | &nbsp;&nbsp; **376590** |

---

See accompanying consolidated notes to portfolio of investments

6 \| Allspring Real Return Portfolio

------

Consolidated portfolio of investments—January 31, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Internet: 0.16%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Arches Buyer, Inc.144A | 4.25<br> %<br>| &nbsp;&nbsp; 6-1-2028 | $180000 | &nbsp;&nbsp; $177030 |
| &nbsp;&nbsp;&nbsp; Gen Digital, Inc.144A | 6.75 | &nbsp;&nbsp; 9-30-2027 | 295000 | &nbsp;&nbsp; 297465 |
| &nbsp;&nbsp;&nbsp; Wayfair LLC144A | 7.25 | &nbsp;&nbsp; 10-31-2029 | 130000 | &nbsp;&nbsp; 135926 |
|  |  |  |  | &nbsp;&nbsp; **610421** |
| **Media: 0.38%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp.144A | 5.00 | &nbsp;&nbsp; 2-1-2028 | 195000 | &nbsp;&nbsp; 193926 |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp.144A | 5.13 | &nbsp;&nbsp; 5-1-2027 | 174000 | &nbsp;&nbsp; 174071 |
| &nbsp;&nbsp;&nbsp; DIRECTV Financing LLC/DIRECTV Financing Co-Obligor, Inc.144A | 5.88 | &nbsp;&nbsp; 8-15-2027 | 235000 | &nbsp;&nbsp; 236145 |
| &nbsp;&nbsp;&nbsp; Nexstar Media, Inc.144A | 5.63 | &nbsp;&nbsp; 7-15-2027 | 170000 | &nbsp;&nbsp; 170044 |
| &nbsp;&nbsp;&nbsp; Paramount Global (U.S. SOFR 3 Month+3.90%)± | 6.25 | &nbsp;&nbsp; 2-28-2057 | 130000 | &nbsp;&nbsp; 118138 |
| &nbsp;&nbsp;&nbsp; Sirius XM Radio LLC144A | 5.00 | &nbsp;&nbsp; 8-1-2027 | 577000 | &nbsp;&nbsp; 575997 |
|  |  |  |  | &nbsp;&nbsp; **1468321** |
| **Telecommunications: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Viasat, Inc.144A | 5.63 | &nbsp;&nbsp; 4-15-2027 | 130000 | &nbsp;&nbsp; **130069** |
| **Consumer, cyclical: 1.44%** |  |  |  |  |
| **Airlines: 0.05%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc.144A | 7.25 | &nbsp;&nbsp; 2-15-2028 | 105000 | &nbsp;&nbsp; 106898 |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc./AAdvantage Loyalty IP Ltd.144A | 5.50 | &nbsp;&nbsp; 4-20-2026 | 71834 | &nbsp;&nbsp; 71885 |
|  |  |  |  | &nbsp;&nbsp; **178783** |
| **Apparel: 0.04%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Crocs, Inc.144A | 4.25 | &nbsp;&nbsp; 3-15-2029 | 155000 | &nbsp;&nbsp; **149552** |
| **Auto manufacturers: 0.21%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC | 4.13 | &nbsp;&nbsp; 8-17-2027 | 300000 | &nbsp;&nbsp; 298539 |
| &nbsp;&nbsp;&nbsp; Nissan Motor Acceptance Co. LLC144A | 2.00 | &nbsp;&nbsp; 3-9-2026 | 185000 | &nbsp;&nbsp; 184206 |
| &nbsp;&nbsp;&nbsp; Nissan Motor Acceptance Co. LLC144A | 5.63 | &nbsp;&nbsp; 9-29-2028 | 135000 | &nbsp;&nbsp; 135463 |
| &nbsp;&nbsp;&nbsp; Nissan Motor Acceptance Co. LLC144A | 6.95 | &nbsp;&nbsp; 9-15-2026 | 165000 | &nbsp;&nbsp; 166879 |
| &nbsp;&nbsp;&nbsp; Nissan Motor Acceptance Co. LLC144A | 7.05 | &nbsp;&nbsp; 9-15-2028 | 50000 | &nbsp;&nbsp; 51844 |
|  |  |  |  | &nbsp;&nbsp; **836931** |
| **Auto parts & equipment: 0.04%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd.144A | 8.25 | &nbsp;&nbsp; 4-15-2031 | 125000 | &nbsp;&nbsp; 130972 |
| &nbsp;&nbsp;&nbsp; ZF North America Capital, Inc.144A | 6.88 | &nbsp;&nbsp; 4-14-2028 | 20000 | &nbsp;&nbsp; 20650 |
|  |  |  |  | &nbsp;&nbsp; **151622** |
| **Distribution/wholesale: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; RB Global Holdings, Inc.144A | 7.75 | &nbsp;&nbsp; 3-15-2031 | 110000 | &nbsp;&nbsp; **114663** |
| **Entertainment: 0.46%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Churchill Downs, Inc.144A | 5.50 | &nbsp;&nbsp; 4-1-2027 | 430000 | &nbsp;&nbsp; 429924 |
| &nbsp;&nbsp;&nbsp; Cinemark USA, Inc.144A | 5.25 | &nbsp;&nbsp; 7-15-2028 | 375000 | &nbsp;&nbsp; 374629 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.144A | 6.50 | &nbsp;&nbsp; 5-15-2027 | 265000 | &nbsp;&nbsp; 266191 |
| &nbsp;&nbsp;&nbsp; SeaWorld Parks & Entertainment, Inc.144A | 5.25 | &nbsp;&nbsp; 8-15-2029 | 90000 | &nbsp;&nbsp; 87985 |

---

See accompanying consolidated notes to portfolio of investments

Allspring Real Return Portfolio \| 7

------

Consolidated portfolio of investments—January 31, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Entertainment**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp.144A | 5.50<br> %<br>| &nbsp;&nbsp; 4-15-2027 | $200000 | &nbsp;&nbsp; $199900 |
| &nbsp;&nbsp;&nbsp; WarnerMedia Holdings, Inc. | 4.05 | &nbsp;&nbsp; 3-15-2029 | 460000 | &nbsp;&nbsp; 446221 |
|  |  |  |  | &nbsp;&nbsp; **1804850** |
| **Home builders: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; K Hovnanian Enterprises, Inc.144A | 8.00 | &nbsp;&nbsp; 4-1-2031 | 55000 | &nbsp;&nbsp; 56346 |
| &nbsp;&nbsp;&nbsp; Taylor Morrison Communities, Inc.144A | 5.75 | &nbsp;&nbsp; 1-15-2028 | 290000 | &nbsp;&nbsp; 295539 |
| &nbsp;&nbsp;&nbsp; Tri Pointe Homes, Inc. | 5.70 | &nbsp;&nbsp; 6-15-2028 | 130000 | &nbsp;&nbsp; 131404 |
|  |  |  |  | &nbsp;&nbsp; **483289** |
| **Home furnishings: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Whirlpool Corp. | 6.13 | &nbsp;&nbsp; 6-15-2030 | 120000 | &nbsp;&nbsp; **120313** |
| **Housewares: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co. | 5.13 | &nbsp;&nbsp; 2-1-2028 | 40000 | &nbsp;&nbsp; 39969 |
| &nbsp;&nbsp;&nbsp; Newell Brands, Inc.144A | 8.50 | &nbsp;&nbsp; 6-1-2028 | 205000 | &nbsp;&nbsp; 214931 |
|  |  |  |  | &nbsp;&nbsp; **254900** |
| **Leisure time: 0.08%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd.144A | 5.88 | &nbsp;&nbsp; 1-15-2031 | 180000 | &nbsp;&nbsp; 180493 |
| &nbsp;&nbsp;&nbsp; VOC Escrow Ltd.144A | 5.00 | &nbsp;&nbsp; 2-15-2028 | 120000 | &nbsp;&nbsp; 119922 |
|  |  |  |  | &nbsp;&nbsp; **300415** |
| **Retail: 0.31%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Advance Auto Parts, Inc. | 1.75 | &nbsp;&nbsp; 10-1-2027 | 115000 | &nbsp;&nbsp; 109338 |
| &nbsp;&nbsp;&nbsp; Advance Auto Parts, Inc.144A | 7.00 | &nbsp;&nbsp; 8-1-2030 | 245000 | &nbsp;&nbsp; 249154 |
| &nbsp;&nbsp;&nbsp; Bath & Body Works, Inc.144A | 6.63 | &nbsp;&nbsp; 10-1-2030 | 75000 | &nbsp;&nbsp; 76808 |
| &nbsp;&nbsp;&nbsp; Carvana Co.144A | 9.00 | &nbsp;&nbsp; 6-1-2030 | 140000 | &nbsp;&nbsp; 145977 |
| &nbsp;&nbsp;&nbsp; Carvana Co.144A | 9.00 | &nbsp;&nbsp; 6-1-2031 | 130000 | &nbsp;&nbsp; 143009 |
| &nbsp;&nbsp;&nbsp; Gap, Inc.144A | 3.63 | &nbsp;&nbsp; 10-1-2029 | 180000 | &nbsp;&nbsp; 171191 |
| &nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc.144A | 6.38 | &nbsp;&nbsp; 1-15-2030 | 170000 | &nbsp;&nbsp; 174509 |
| &nbsp;&nbsp;&nbsp; Kohl's Corp.144A | 10.00 | &nbsp;&nbsp; 6-1-2030 | 70000 | &nbsp;&nbsp; 76684 |
| &nbsp;&nbsp;&nbsp; Lithia Motors, Inc.144A | 4.63 | &nbsp;&nbsp; 12-15-2027 | 30000 | &nbsp;&nbsp; 29943 |
| &nbsp;&nbsp;&nbsp; Nordstrom, Inc. | 4.38 | &nbsp;&nbsp; 4-1-2030 | 25000 | &nbsp;&nbsp; 23867 |
|  |  |  |  | &nbsp;&nbsp; **1200480** |
| **Consumer, non-cyclical: 0.67%** |  |  |  |  |
| **Commercial services: 0.30%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas <br> Luxco 4 Sarl144A<br>| 4.63 | &nbsp;&nbsp; 6-1-2028 | 75000 | &nbsp;&nbsp; 73985 |
| &nbsp;&nbsp;&nbsp; CoreCivic, Inc. | 8.25 | &nbsp;&nbsp; 4-15-2029 | 325000 | &nbsp;&nbsp; 340407 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. | 8.63 | &nbsp;&nbsp; 4-15-2029 | 400000 | &nbsp;&nbsp; 418293 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. | 10.25 | &nbsp;&nbsp; 4-15-2031 | 65000 | &nbsp;&nbsp; 70923 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc.144A | 7.00 | &nbsp;&nbsp; 6-15-2030 | 95000 | &nbsp;&nbsp; 99709 |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC/Prime Finance, Inc.144A | 5.75 | &nbsp;&nbsp; 4-15-2026 | 25000 | &nbsp;&nbsp; 25047 |
| &nbsp;&nbsp;&nbsp; Veritiv Operating Co.144A | 10.50 | &nbsp;&nbsp; 11-30-2030 | 120000 | &nbsp;&nbsp; 128490 |
|  |  |  |  | &nbsp;&nbsp; **1156854** |

---

See accompanying consolidated notes to portfolio of investments

8 \| Allspring Real Return Portfolio

------

Consolidated portfolio of investments—January 31, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Cosmetics/Personal Care: 0.06%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Edgewell Personal Care Co.144A | 5.50<br> %<br>| &nbsp;&nbsp; 6-1-2028 | $240000 | &nbsp;&nbsp; **$240078** |
| **Food: 0.06%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Albertsons Cos., Inc./Safeway, Inc./New <br> Albertsons LP/Albertsons LLC144A<br>| 5.88 | &nbsp;&nbsp; 2-15-2028 | 135000 | &nbsp;&nbsp; 135040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Albertsons Cos., Inc./Safeway, Inc./New <br> Albertsons LP/Albertsons LLC144A<br>| 6.50 | &nbsp;&nbsp; 2-15-2028 | 100000 | &nbsp;&nbsp; 101601 |
|  |  |  |  | &nbsp;&nbsp; **236641** |
| **Healthcare-services: 0.13%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc.144A | 4.38 | &nbsp;&nbsp; 6-15-2028 | 150000 | &nbsp;&nbsp; 147334 |
| &nbsp;&nbsp;&nbsp; Star Parent, Inc.144A | 9.00 | &nbsp;&nbsp; 10-1-2030 | 195000 | &nbsp;&nbsp; 205817 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. | 4.63 | &nbsp;&nbsp; 6-15-2028 | 70000 | &nbsp;&nbsp; 69805 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. | 6.13 | &nbsp;&nbsp; 10-1-2028 | 101000 | &nbsp;&nbsp; 101103 |
|  |  |  |  | &nbsp;&nbsp; **524059** |
| **Pharmaceuticals: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AdaptHealth LLC144A | 4.63 | &nbsp;&nbsp; 8-1-2029 | 120000 | &nbsp;&nbsp; 115905 |
| &nbsp;&nbsp;&nbsp; AdaptHealth LLC144A | 6.13 | &nbsp;&nbsp; 8-1-2028 | 115000 | &nbsp;&nbsp; 115420 |
| &nbsp;&nbsp;&nbsp; Organon & Co./Organon Foreign Debt Co-Issuer BV144A | 4.13 | &nbsp;&nbsp; 4-30-2028 | 220000 | &nbsp;&nbsp; 215780 |
|  |  |  |  | &nbsp;&nbsp; **447105** |
| **Energy: 0.98%** |  |  |  |  |
| **Energy-alternate sources: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TerraForm Power Operating LLC144A | 5.00 | &nbsp;&nbsp; 1-31-2028 | 285000 | &nbsp;&nbsp; **285321** |
| **Oil & gas: 0.22%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aethon United BR LP/Aethon United Finance Corp.144A | 7.50 | &nbsp;&nbsp; 10-1-2029 | 135000 | &nbsp;&nbsp; 142060 |
| &nbsp;&nbsp;&nbsp; California Resources Corp.144A | 8.25 | &nbsp;&nbsp; 6-15-2029 | 125000 | &nbsp;&nbsp; 131473 |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP/Hilcorp Finance Co.144A | 6.25 | &nbsp;&nbsp; 11-1-2028 | 220000 | &nbsp;&nbsp; 221806 |
| &nbsp;&nbsp;&nbsp; Nabors Industries, Inc.144A | 9.13 | &nbsp;&nbsp; 1-31-2030 | 135000 | &nbsp;&nbsp; 142564 |
| &nbsp;&nbsp;&nbsp; SM Energy Co.144A | 8.38 | &nbsp;&nbsp; 7-1-2028 | 155000 | &nbsp;&nbsp; 159541 |
| &nbsp;&nbsp;&nbsp; SM Energy Co.144A | 8.63 | &nbsp;&nbsp; 11-1-2030 | 45000 | &nbsp;&nbsp; 47593 |
|  |  |  |  | &nbsp;&nbsp; **845037** |
| **Oil & gas services: 0.17%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Bristow Group, Inc.144A | 6.88 | &nbsp;&nbsp; 3-1-2028 | 250000 | &nbsp;&nbsp; 250265 |
| &nbsp;&nbsp;&nbsp; Oceaneering International, Inc. | 6.00 | &nbsp;&nbsp; 2-1-2028 | 365000 | &nbsp;&nbsp; 370871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USA Compression Partners LP/USA Compression Finance <br> Corp.144A<br>| 7.13 | &nbsp;&nbsp; 3-15-2029 | 25000 | &nbsp;&nbsp; 25885 |
|  |  |  |  | &nbsp;&nbsp; **647021** |
| **Pipelines: 0.52%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Antero Midstream Partners LP/Antero Midstream Finance <br> Corp.144A<br>| 5.75 | &nbsp;&nbsp; 1-15-2028 | 135000 | &nbsp;&nbsp; 135054 |
| &nbsp;&nbsp;&nbsp; Buckeye Partners LP144A | 6.88 | &nbsp;&nbsp; 7-1-2029 | 115000 | &nbsp;&nbsp; 119558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP Series H (5 Year Treasury Constant <br> Maturity+5.69%)ʊ±<br>| 6.50 | &nbsp;&nbsp; 11-15-2026 | 20000 | &nbsp;&nbsp; 20092 |
| &nbsp;&nbsp;&nbsp; Excelerate Energy LP144A | 8.00 | &nbsp;&nbsp; 5-15-2030 | 225000 | &nbsp;&nbsp; 240611 |

---

See accompanying consolidated notes to portfolio of investments

Allspring Real Return Portfolio \| 9

------

Consolidated portfolio of investments—January 31, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Pipelines**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Harvest Midstream I LP144A | 7.50<br> %<br>| &nbsp;&nbsp; 9-1-2028 | $315000 | &nbsp;&nbsp; $319329 |
| &nbsp;&nbsp;&nbsp; Hess Midstream Operations LP144A | 5.88 | &nbsp;&nbsp; 3-1-2028 | 180000 | &nbsp;&nbsp; 183415 |
| &nbsp;&nbsp;&nbsp; Kinetik Holdings LP144A | 6.63 | &nbsp;&nbsp; 12-15-2028 | 375000 | &nbsp;&nbsp; 386144 |
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.144A | 5.50 | &nbsp;&nbsp; 1-15-2028 | 220000 | &nbsp;&nbsp; 219924 |
| &nbsp;&nbsp;&nbsp; Venture Global LNG, Inc.144A | 8.13 | &nbsp;&nbsp; 6-1-2028 | 405000 | &nbsp;&nbsp; 414597 |
|  |  |  |  | &nbsp;&nbsp; **2038724** |
| **Financial: 1.38%** |  |  |  |  |
| **Banks: 0.28%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. Series RR (5 Year Treasury Constant <br> Maturity+2.76%)ʊ±<br>| 4.38 | &nbsp;&nbsp; 1-27-2027 | 275000 | &nbsp;&nbsp; 273586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. Series I (5 Year Treasury Constant <br> Maturity+2.63%)ʊ±<br>| 3.75 | &nbsp;&nbsp; 12-20-2026 | 75000 | &nbsp;&nbsp; 73783 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. Series T (U.S. SOFR 3 Month+4.78%)ʊ± | 6.25 | &nbsp;&nbsp; 8-15-2026 | 225000 | &nbsp;&nbsp; 226329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc. Series X (5 Year Treasury Constant <br> Maturity+3.42%)ʊ±<br>| 3.88 | &nbsp;&nbsp; 2-18-2026 | 305000 | &nbsp;&nbsp; 304509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. Series G (7 Year Treasury Constant <br> Maturity+4.05%)ʊ±<br>| 4.45 | &nbsp;&nbsp; 10-15-2027 | 225000 | &nbsp;&nbsp; 221815 |
|  |  |  |  | &nbsp;&nbsp; **1100022** |
| **Diversified financial services: 0.57%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aircastle Ltd. Series A (5 Year Treasury Constant <br> Maturity+4.41%)144Aʊ±<br>| 5.25 | &nbsp;&nbsp; 6-15-2026 | 100000 | &nbsp;&nbsp; 99865 |
| &nbsp;&nbsp;&nbsp; Azorra Finance Ltd.144A | 7.75 | &nbsp;&nbsp; 4-15-2030 | 190000 | &nbsp;&nbsp; 199954 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. Series O (U.S. SOFR 3 Month+3.34%)ʊ± | 5.50 | &nbsp;&nbsp; 10-30-2027 | 25000 | &nbsp;&nbsp; 25087 |
| &nbsp;&nbsp;&nbsp; Encore Capital Group, Inc.144A | 9.25 | &nbsp;&nbsp; 4-1-2029 | 215000 | &nbsp;&nbsp; 225420 |
| &nbsp;&nbsp;&nbsp; Jefferson Capital Holdings LLC144A | 6.00 | &nbsp;&nbsp; 8-15-2026 | 200000 | &nbsp;&nbsp; 199134 |
| &nbsp;&nbsp;&nbsp; Jefferson Capital Holdings LLC144A | 9.50 | &nbsp;&nbsp; 2-15-2029 | 55000 | &nbsp;&nbsp; 57710 |
| &nbsp;&nbsp;&nbsp; Navient Corp. | 4.88 | &nbsp;&nbsp; 3-15-2028 | 105000 | &nbsp;&nbsp; 102927 |
| &nbsp;&nbsp;&nbsp; Navient Corp. | 5.00 | &nbsp;&nbsp; 3-15-2027 | 115000 | &nbsp;&nbsp; 114264 |
| &nbsp;&nbsp;&nbsp; OneMain Finance Corp. | 5.38 | &nbsp;&nbsp; 11-15-2029 | 235000 | &nbsp;&nbsp; 234381 |
| &nbsp;&nbsp;&nbsp; PRA Group, Inc.144A | 8.38 | &nbsp;&nbsp; 2-1-2028 | 250000 | &nbsp;&nbsp; 252573 |
| &nbsp;&nbsp;&nbsp; Rocket Cos., Inc.144A | 6.13 | &nbsp;&nbsp; 8-1-2030 | 110000 | &nbsp;&nbsp; 112619 |
| &nbsp;&nbsp;&nbsp; Rocket Cos., Inc.144A | 6.50 | &nbsp;&nbsp; 8-1-2029 | 90000 | &nbsp;&nbsp; 92576 |
| &nbsp;&nbsp;&nbsp; United Wholesale Mortgage LLC144A | 5.50 | &nbsp;&nbsp; 4-15-2029 | 60000 | &nbsp;&nbsp; 59280 |
| &nbsp;&nbsp;&nbsp; United Wholesale Mortgage LLC144A | 5.75 | &nbsp;&nbsp; 6-15-2027 | 445000 | &nbsp;&nbsp; 445359 |
|  |  |  |  | &nbsp;&nbsp; **2221149** |
| **Insurance: 0.14%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer144A | 6.75 | &nbsp;&nbsp; 4-15-2028 | 210000 | &nbsp;&nbsp; 213475 |
| &nbsp;&nbsp;&nbsp; AmWINS Group, Inc.144A | 6.38 | &nbsp;&nbsp; 2-15-2029 | 175000 | &nbsp;&nbsp; 179564 |
| &nbsp;&nbsp;&nbsp; Asurion LLC (U.S. SOFR 1 Month+4.25%)± | 8.02 | &nbsp;&nbsp; 8-19-2028 | 114705 | &nbsp;&nbsp; 114830 |
| &nbsp;&nbsp;&nbsp; HUB International Ltd.144A | 7.25 | &nbsp;&nbsp; 6-15-2030 | 35000 | &nbsp;&nbsp; 36517 |
|  |  |  |  | &nbsp;&nbsp; **544386** |
| **Investment Companies: 0.01%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Icahn Enterprises LP/Icahn Enterprises Finance Corp. | 6.25 | &nbsp;&nbsp; 5-15-2026 | 33000 | &nbsp;&nbsp; **33001** |

---

See accompanying consolidated notes to portfolio of investments

10 \| Allspring Real Return Portfolio

------

Consolidated portfolio of investments—January 31, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **REITs: 0.38%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc.144A | 3.75<br> %<br>| &nbsp;&nbsp; 1-15-2027 | $65000 | &nbsp;&nbsp; $64139 |
| &nbsp;&nbsp;&nbsp; Brandywine Operating Partnership LP | 3.95 | &nbsp;&nbsp; 11-15-2027 | 135000 | &nbsp;&nbsp; 132380 |
| &nbsp;&nbsp;&nbsp; Brandywine Operating Partnership LP | 8.88 | &nbsp;&nbsp; 4-12-2029 | 70000 | &nbsp;&nbsp; 75210 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc.144A | 5.25 | &nbsp;&nbsp; 3-15-2028 | 360000 | &nbsp;&nbsp; 359898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings LLLP/Ladder Capital Finance <br> Corp.144A<br>| 4.75 | &nbsp;&nbsp; 6-15-2029 | 220000 | &nbsp;&nbsp; 218164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Park Intermediate Holdings LLC/PK Domestic Property LLC/PK <br> Finance Co-Issuer144A<br>| 5.88 | &nbsp;&nbsp; 10-1-2028 | 255000 | &nbsp;&nbsp; 255003 |
| &nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc.144A | 3.63 | &nbsp;&nbsp; 7-15-2026 | 290000 | &nbsp;&nbsp; 288086 |
| &nbsp;&nbsp;&nbsp; XHR LP144A | 6.63 | &nbsp;&nbsp; 5-15-2030 | 80000 | &nbsp;&nbsp; 82620 |
|  |  |  |  | &nbsp;&nbsp; **1475500** |
| **Industrial: 0.49%** |  |  |  |  |
| **Aerospace/defense: 0.09%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc.144A | 6.38 | &nbsp;&nbsp; 3-1-2029 | 350000 | &nbsp;&nbsp; **359914** |
| **Electrical components & equipment: 0.11%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Energizer Holdings, Inc.144A | 4.75 | &nbsp;&nbsp; 6-15-2028 | 165000 | &nbsp;&nbsp; 163239 |
| &nbsp;&nbsp;&nbsp; WESCO Distribution, Inc.144A | 6.38 | &nbsp;&nbsp; 3-15-2029 | 240000 | &nbsp;&nbsp; 247445 |
|  |  |  |  | &nbsp;&nbsp; **410684** |
| **Machinery-diversified: 0.08%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Chart Industries, Inc.144A | 7.50 | &nbsp;&nbsp; 1-1-2030 | 10000 | &nbsp;&nbsp; 10405 |
| &nbsp;&nbsp;&nbsp; TK Elevator U.S. Newco, Inc.144A | 5.25 | &nbsp;&nbsp; 7-15-2027 | 310000 | &nbsp;&nbsp; 310090 |
|  |  |  |  | &nbsp;&nbsp; **320495** |
| **Packaging & containers: 0.10%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc.144A | 6.63 | &nbsp;&nbsp; 4-15-2029 | 165000 | &nbsp;&nbsp; 166454 |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc.144A | 6.88 | &nbsp;&nbsp; 1-15-2030 | 60000 | &nbsp;&nbsp; 60780 |
| &nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container, Inc.144A | 6.63 | &nbsp;&nbsp; 5-13-2027 | 145000 | &nbsp;&nbsp; 145417 |
|  |  |  |  | &nbsp;&nbsp; **372651** |
| **Trucking & leasing: 0.11%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; FTAI Aviation Investors LLC144A | 5.50 | &nbsp;&nbsp; 5-1-2028 | 430000 | &nbsp;&nbsp; **430413** |
| **Technology: 0.13%** |  |  |  |  |
| **Software: 0.13%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc.144A | 6.50 | &nbsp;&nbsp; 3-31-2029 | 380000 | &nbsp;&nbsp; 377632 |
| &nbsp;&nbsp;&nbsp; Rocket Software, Inc.144A | 9.00 | &nbsp;&nbsp; 11-28-2028 | 140000 | &nbsp;&nbsp; 139650 |
|  |  |  |  | &nbsp;&nbsp; **517282** |
| **Utilities: 0.23%** |  |  |  |  |
| **Electric: 0.23%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Pattern Energy Operations LP/Pattern Energy Operations, Inc.144A | 4.50 | &nbsp;&nbsp; 8-15-2028 | 305000 | &nbsp;&nbsp; 302064 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. | 5.00 | &nbsp;&nbsp; 7-1-2028 | 175000 | &nbsp;&nbsp; 174629 |

---

See accompanying consolidated notes to portfolio of investments

Allspring Real Return Portfolio \| 11

------

Consolidated portfolio of investments—January 31, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Electric**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC144A | 5.00<br> %<br>| &nbsp;&nbsp; 7-31-2027 | $150000 | &nbsp;&nbsp; $150125 |
| &nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners LP144A | 4.50 | &nbsp;&nbsp; 9-15-2027 | 285000 | &nbsp;&nbsp; 282409 |
|  |  |  |  | &nbsp;&nbsp; **909227** |
| **Total corporate bonds and notes (Cost $23,873,218)** |  |  |  | &nbsp;&nbsp; **24245071** |

---

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

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Investment companies: 8.11%** |  |  |
| **Exchange-traded funds: 8.11%** |  |  |
| &nbsp;&nbsp;&nbsp; iShares J.P. Morgan USD Emerging Markets Bond ETF | 119000 | &nbsp;&nbsp; 11493020 |
| &nbsp;&nbsp;&nbsp; iShares MSCI Brazil ETF | 263000 | &nbsp;&nbsp; 9741520 |
| &nbsp;&nbsp;&nbsp; iShares MSCI South Korea ETF | 84000 | &nbsp;&nbsp; 10282440 |
| **Total investment companies (Cost $30,188,009)** |  | &nbsp;&nbsp; **31516980** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  |  | Principal |  |
| **Loans: 0.05%** |  |  |  |  |
| **Communications: 0.02%** |  |  |  |  |
| **Internet: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cablevision Lightpath LLC (U.S. SOFR 1 Month+3.00%)± | 6.68 | &nbsp;&nbsp; 11-30-2027 | $54587 | &nbsp;&nbsp; **54473** |
| **Media: 0.00%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; DIRECTV Financing LLC (U.S. SOFR 3 Month+5.00%)± | 8.93 | &nbsp;&nbsp; 8-2-2027 | 5829 | &nbsp;&nbsp; **5832** |
| **Consumer, cyclical: 0.03%** |  |  |  |  |
| **Airlines: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Vista Management Holding, Inc. (U.S. SOFR 3 Month+3.75%)± | 7.41 | &nbsp;&nbsp; 4-1-2031 | 69300 | &nbsp;&nbsp; **69386** |
| **Retail: 0.01%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Petco Health & Wellness Co., Inc. (U.S. SOFR 3 Month+3.25%)± | 7.18 | &nbsp;&nbsp; 3-3-2028 | 56417 | &nbsp;&nbsp; **56270** |
| **Consumer, non-cyclical: 0.00%** |  |  |  |  |
| **Healthcare-products: 0.00%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Bausch & Lomb Corp. (U.S. SOFR 1 Month+3.75%)± | 7.42 | &nbsp;&nbsp; 1-15-2031 | 9950 | &nbsp;&nbsp; **10012** |
| **Total loans (Cost $193,514)** |  |  |  | &nbsp;&nbsp; **195973** |
| **U.S. Treasury securities: 18.86%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TIPS | 0.13 | &nbsp;&nbsp; 4-15-2027 | 5567606 | &nbsp;&nbsp; 5510640 |
| &nbsp;&nbsp;&nbsp; TIPS | 0.13 | &nbsp;&nbsp; 1-15-2030 | 5291076 | &nbsp;&nbsp; 5075860 |
| &nbsp;&nbsp;&nbsp; TIPS | 0.13 | &nbsp;&nbsp; 7-15-2030 | 4778562 | &nbsp;&nbsp; 4564442 |
| &nbsp;&nbsp;&nbsp; TIPS | 0.13 | &nbsp;&nbsp; 1-15-2031 | 2639633 | &nbsp;&nbsp; 2490457 |
| &nbsp;&nbsp;&nbsp; TIPS | 0.13 | &nbsp;&nbsp; 7-15-2031 | 1777700 | &nbsp;&nbsp; 1667219 |
| &nbsp;&nbsp;&nbsp; TIPS | 0.13 | &nbsp;&nbsp; 1-15-2032 | 3051769 | &nbsp;&nbsp; 2821231 |
| &nbsp;&nbsp;&nbsp; TIPS | 0.13 | &nbsp;&nbsp; 2-15-2051 | 1879859 | &nbsp;&nbsp; 1013905 |
| &nbsp;&nbsp;&nbsp; TIPS | 0.25 | &nbsp;&nbsp; 7-15-2029 | 1172086 | &nbsp;&nbsp; 1142539 |
| &nbsp;&nbsp;&nbsp; TIPS | 0.25 | &nbsp;&nbsp; 2-15-2050 | 201714 | &nbsp;&nbsp; 115971 |
| &nbsp;&nbsp;&nbsp; TIPS | 0.38 | &nbsp;&nbsp; 1-15-2027 | 114052 | &nbsp;&nbsp; 113554 |
| &nbsp;&nbsp;&nbsp; TIPS | 0.38 | &nbsp;&nbsp; 7-15-2027 | 7002678 | &nbsp;&nbsp; 6980491 |
| &nbsp;&nbsp;&nbsp; TIPS | 0.50 | &nbsp;&nbsp; 1-15-2028 | 4697586 | &nbsp;&nbsp; 4658736 |

---

See accompanying consolidated notes to portfolio of investments

12 \| Allspring Real Return Portfolio

------

Consolidated portfolio of investments—January 31, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **U.S. Treasury securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TIPS | 0.63<br> %<br>| &nbsp;&nbsp; 2-15-2043 | $479322 | &nbsp;&nbsp; $357928 |
| &nbsp;&nbsp;&nbsp; TIPS | 0.75 | &nbsp;&nbsp; 2-15-2042 | 143442 | &nbsp;&nbsp; 111946 |
| &nbsp;&nbsp;&nbsp; TIPS | 0.88 | &nbsp;&nbsp; 1-15-2029 | 3074318 | &nbsp;&nbsp; 3057944 |
| &nbsp;&nbsp;&nbsp; TIPS | 1.00 | &nbsp;&nbsp; 2-15-2048 | 1504965 | &nbsp;&nbsp; 1098493 |
| &nbsp;&nbsp;&nbsp; TIPS | 1.00 | &nbsp;&nbsp; 2-15-2049 | 1564993 | &nbsp;&nbsp; 1124885 |
| &nbsp;&nbsp;&nbsp; TIPS | 1.38 | &nbsp;&nbsp; 7-15-2033 | 4839843 | &nbsp;&nbsp; 4759813 |
| &nbsp;&nbsp;&nbsp; TIPS | 1.38 | &nbsp;&nbsp; 2-15-2044 | 1501988 | &nbsp;&nbsp; 1259252 |
| &nbsp;&nbsp;&nbsp; TIPS | 1.50 | &nbsp;&nbsp; 2-15-2053 | 1303016 | &nbsp;&nbsp; 1013533 |
| &nbsp;&nbsp;&nbsp; TIPS | 1.63 | &nbsp;&nbsp; 10-15-2027 | 4502468 | &nbsp;&nbsp; 4572876 |
| &nbsp;&nbsp;&nbsp; TIPS | 1.75 | &nbsp;&nbsp; 1-15-2034 | 1887430 | &nbsp;&nbsp; 1891372 |
| &nbsp;&nbsp;&nbsp; TIPS | 1.88 | &nbsp;&nbsp; 7-15-2034 | 3646313 | &nbsp;&nbsp; 3688308 |
| &nbsp;&nbsp;&nbsp; TIPS | 2.13 | &nbsp;&nbsp; 1-15-2035 | 5956890 | &nbsp;&nbsp; 6102286 |
| &nbsp;&nbsp;&nbsp; TIPS | 2.13 | &nbsp;&nbsp; 2-15-2040 | 1439616 | &nbsp;&nbsp; 1428170 |
| &nbsp;&nbsp;&nbsp; TIPS | 2.13 | &nbsp;&nbsp; 2-15-2041 | 1990694 | &nbsp;&nbsp; 1954393 |
| &nbsp;&nbsp;&nbsp; TIPS | 2.13 | &nbsp;&nbsp; 2-15-2054 | 1003295 | &nbsp;&nbsp; 899254 |
| &nbsp;&nbsp;&nbsp; TIPS | 2.50 | &nbsp;&nbsp; 1-15-2029 | 845404 | &nbsp;&nbsp; 880572 |
| &nbsp;&nbsp;&nbsp; TIPS | 3.88 | &nbsp;&nbsp; 4-15-2029 | 118298 | &nbsp;&nbsp; 128449 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Inflation-Indexed Bonds | 1.00 | &nbsp;&nbsp; 2-15-2046 | 1764617 | &nbsp;&nbsp; 1329900 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Inflation-Indexed Bonds | 3.38 | &nbsp;&nbsp; 4-15-2032 | 1351270 | &nbsp;&nbsp; 1503502 |
| **Total U.S. Treasury securities (Cost $76,107,915)** |  |  |  | &nbsp;&nbsp; **73317921** |
| **Yankee corporate bonds and notes: 1.05%** |  |  |  |  |
| **Basic materials: 0.04%** |  |  |  |  |
| **Mining: 0.04%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Alumina Pty. Ltd.144A | 6.13 | &nbsp;&nbsp; 3-15-2030 | 170000 | &nbsp;&nbsp; **175365** |
| **Communications: 0.15%** |  |  |  |  |
| **Internet: 0.08%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Rakuten Group, Inc.144A | 11.25 | &nbsp;&nbsp; 2-15-2027 | 295000 | &nbsp;&nbsp; **314251** |
| **Media: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Virgin Media Vendor Financing Notes IV DAC144A | 5.00 | &nbsp;&nbsp; 7-15-2028 | 250000 | &nbsp;&nbsp; **250000** |
| **Consumer, cyclical: 0.37%** |  |  |  |  |
| **Airlines: 0.18%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Air Canada Pass-Through Trust Series 2020-1 Class C144A | 10.50 | &nbsp;&nbsp; 7-15-2026 | 475000 | &nbsp;&nbsp; 487496 |
| &nbsp;&nbsp;&nbsp; Latam Airlines Group SA144A | 7.63 | &nbsp;&nbsp; 1-7-2031 | 140000 | &nbsp;&nbsp; 146825 |
| &nbsp;&nbsp;&nbsp; Latam Airlines Group SA144A | 7.88 | &nbsp;&nbsp; 4-15-2030 | 25000 | &nbsp;&nbsp; 26229 |
| &nbsp;&nbsp;&nbsp; VistaJet Malta Finance PLC/Vista Management Holding, Inc.144A | 7.88 | &nbsp;&nbsp; 5-1-2027 | 45000 | &nbsp;&nbsp; 45077 |
|  |  |  |  | &nbsp;&nbsp; **705627** |
| **Auto manufacturers: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Nissan Motor Co. Ltd.144A | 4.35 | &nbsp;&nbsp; 9-17-2027 | 75000 | &nbsp;&nbsp; **74183** |
| **Auto parts & equipment: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forvia SE144A | 8.00 | &nbsp;&nbsp; 6-15-2030 | 75000 | &nbsp;&nbsp; **80068** |

---

See accompanying consolidated notes to portfolio of investments

Allspring Real Return Portfolio \| 13

------

Consolidated portfolio of investments—January 31, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Leisure time: 0.15%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Carnival Corp.144A | 5.13<br> %<br>| &nbsp;&nbsp; 5-1-2029 | $130000 | &nbsp;&nbsp; $131524 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd.144A | 5.38 | &nbsp;&nbsp; 7-15-2027 | 455000 | &nbsp;&nbsp; 458485 |
|  |  |  |  | &nbsp;&nbsp; **590009** |
| **Consumer, non-cyclical: 0.07%** |  |  |  |  |
| **Healthcare-products: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Bausch & Lomb Corp.144A | 8.38 | &nbsp;&nbsp; 10-1-2028 | 245000 | &nbsp;&nbsp; **255413** |
| **Energy: 0.03%** |  |  |  |  |
| **Pipelines: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Enbridge, Inc. (5 Year Treasury Constant Maturity+3.71%)± | 7.38 | &nbsp;&nbsp; 1-15-2083 | 100000 | &nbsp;&nbsp; **102996** |
| **Financial: 0.18%** |  |  |  |  |
| **Banks: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Mercantil del Norte SA (5 Year Treasury Constant <br> Maturity+4.64%)144Aʊ±<br>| 5.88 | &nbsp;&nbsp; 1-24-2027 | 120000 | &nbsp;&nbsp; **119465** |
| **Diversified financial services: 0.15%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Global Aircraft Leasing Co. Ltd.144A | 8.75 | &nbsp;&nbsp; 9-1-2027 | 275000 | &nbsp;&nbsp; 284661 |
| &nbsp;&nbsp;&nbsp; goeasy Ltd.144A | 9.25 | &nbsp;&nbsp; 12-1-2028 | 145000 | &nbsp;&nbsp; 149072 |
| &nbsp;&nbsp;&nbsp; Macquarie AirFinance Holdings Ltd.144A | 6.40 | &nbsp;&nbsp; 3-26-2029 | 140000 | &nbsp;&nbsp; 147066 |
|  |  |  |  | &nbsp;&nbsp; **580799** |
| **Industrial: 0.02%** |  |  |  |  |
| **Packaging & containers: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Trivium Packaging Finance BV144A | 8.25 | &nbsp;&nbsp; 7-15-2030 | 85000 | &nbsp;&nbsp; **90701** |
| **Technology: 0.13%** |  |  |  |  |
| **Computers: 0.04%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte. Ltd.144A | 8.25 | &nbsp;&nbsp; 12-15-2029 | 155000 | &nbsp;&nbsp; **163722** |
| **Software: 0.09%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Open Text Corp.144A | 3.88 | &nbsp;&nbsp; 2-15-2028 | 80000 | &nbsp;&nbsp; 77441 |
| &nbsp;&nbsp;&nbsp; Open Text Corp.144A | 6.90 | &nbsp;&nbsp; 12-1-2027 | 275000 | &nbsp;&nbsp; 283945 |
|  |  |  |  | &nbsp;&nbsp; **361386** |
| **Utilities: 0.06%** |  |  |  |  |
| **Electric: 0.06%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Algonquin Power & Utilities Corp. (5 Year Treasury Constant <br> Maturity+3.25%)±<br>| 4.75 | &nbsp;&nbsp; 1-18-2082 | 10000 | &nbsp;&nbsp; 9928 |
| &nbsp;&nbsp;&nbsp; Emera, Inc. Series 16-A (U.S. SOFR 3 Month+5.44%)± | 6.75 | &nbsp;&nbsp; 6-15-2076 | 205000 | &nbsp;&nbsp; 206400 |
|  |  |  |  | &nbsp;&nbsp; **216328** |
| **Total yankee corporate bonds and notes (Cost $4,006,656)** |  |  |  | &nbsp;&nbsp; **4080313** |

---

See accompanying consolidated notes to portfolio of investments

14 \| Allspring Real Return Portfolio

------

Consolidated portfolio of investments—January 31, 2026 (unaudited)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | Yield | Shares | Value |
| **Short-term investments: 32.94%** |  |  |  |  |
| **Investment companies: 32.94%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund Select Class♠∞\* |  | 3.63<br> %<br>| 128005592 | &nbsp;&nbsp; **$128005592** |
| **Total short-term investments (Cost $128,005,592)** |  |  |  | &nbsp;&nbsp; **128005592** |
| **Total investments in securities (Cost $335,385,632)** | 92.85<br> %<br>|  |  | &nbsp;&nbsp; 360839701 |
| &nbsp;&nbsp;&nbsp; Other assets and liabilities, net | 7.15 |  |  | &nbsp;&nbsp; 27782691 |
| **Total net assets** | **100.00%**<br>|  |  | &nbsp;&nbsp; **$388622392** |

---

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

---

| | |
|:---|:---|
| † | Non-income-earning security |
| 144A | The security may be resold in transactions exempt from registration, normally to qualified institutional buyers, pursuant to Rule 144A under the Securities Act of <br> 1933.<br>|
| ± | Variable rate investment. The rate shown is the rate in effect at period end. |
| ʊ | Security is perpetual in nature and has no stated maturity date. The date shown reflects the next call date. |
| ♠ | The issuer of the security is an affiliated person of the Portfolio as defined in the Investment Company Act of 1940. |
| ∞ | The rate represents the 7-day annualized yield at period end. |
| \* | A portion of the holding represents an investment held in Real Return Special Investments (Cayman) Ltd., the consolidated entity. |

---

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

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| ADR | American depositary receipt |
| REIT | Real estate investment trust |
| SOFR | Secured Overnight Financing Rate |
| TIPS | Treasury Inflation-Protected Securities |

---

**Investments in affiliates**

An affiliated investment is an investment in which the Portfolio owns at least 5% of the outstanding voting shares of the issuer or as a result of other relationships, such as the Portfolio and the issuer having the same adviser or investment manager. Transactions with issuers that were affiliates of the Portfolio 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** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund <br> Select Class<br>| $97077493 | $133236589 | $(102308490)<br>| $0 | $0 | $128005592 | 128005592 | $3474076 |

---

**Forward foreign currency contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Currency to be <br>received | Currency to be <br>received | &nbsp;&nbsp;&nbsp; Currency to be <br>delivered | &nbsp;&nbsp;&nbsp; Currency to be <br>delivered | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date<br>| &nbsp;&nbsp; Unrealized <br>gains<br>| &nbsp;&nbsp; Unrealized <br>losses<br>|
| AUD | 1811000 | USD | 1201426 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; $59532 | &nbsp;&nbsp;&nbsp; $0 |
| AUD | 884000 | USD | 595078 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 20431 | &nbsp;&nbsp;&nbsp; 0 |
| BRL | 6596000 | USD | 1177857 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 63187 | &nbsp;&nbsp;&nbsp; 0 |
| BRL | 3201000 | USD | 586060 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 16212 | &nbsp;&nbsp;&nbsp; 0 |
| CAD | 1412000 | USD | 1023562 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 15350 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 1204148 | CAD | 1656000 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (14293)<br>|
| CHF | 222000 | USD | 279429 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 9073 | &nbsp;&nbsp;&nbsp; 0 |
| CLP | 600845000 | USD | 651005 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 36393 | &nbsp;&nbsp;&nbsp; 0 |
| CZK | 25984000 | USD | 1249771 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 16254 | &nbsp;&nbsp;&nbsp; 0 |
| EUR | 808000 | USD | 944970 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 14734 | &nbsp;&nbsp;&nbsp; 0 |
| EUR | 601000 | USD | 705278 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 8561 | &nbsp;&nbsp;&nbsp; 0 |
| GBP | 1169000 | USD | 1556603 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 42912 | &nbsp;&nbsp;&nbsp; 0 |
| GBP | 276000 | USD | 372390 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 5254 | &nbsp;&nbsp;&nbsp; 0 |

---

See accompanying consolidated notes to portfolio of investments

Allspring Real Return Portfolio \| 15

------

Consolidated portfolio of investments—January 31, 2026 (unaudited)

**Forward foreign currency contracts** (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Currency to be<br> received | Currency to be<br> received | &nbsp;&nbsp;&nbsp; Currency to be<br> delivered | &nbsp;&nbsp;&nbsp; Currency to be<br> delivered | Counterparty | &nbsp;&nbsp;&nbsp; Settlement<br> date<br>| &nbsp;&nbsp; Unrealized<br> gains<br>| &nbsp;&nbsp; Unrealized<br> losses<br>|
| HUF | 392727000 | USD | 1184548 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; $32297 | &nbsp;&nbsp;&nbsp; $0 |
| HUF | 202915000 | USD | 614082 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 14640 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 2957696 | INR | 268124000 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 50981 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 1376135 | INR | 124748000 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 23750 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 1551671 | JPY | 240771000 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (9840)<br>|
| USD | 1832331 | KRW | 2684537000 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (35724)<br>|
| USD | 964312 | KRW | 1394204000 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (5855)<br>|
| MXN | 23270000 | USD | 1266640 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 59734 | &nbsp;&nbsp;&nbsp; 0 |
| MXN | 12318000 | USD | 681233 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 20884 | &nbsp;&nbsp;&nbsp; 0 |
| NOK | 5849000 | USD | 575417 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 31801 | &nbsp;&nbsp;&nbsp; 0 |
| NOK | 6883000 | USD | 685419 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 29144 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 208676 | NZD | 360000 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (8426)<br>|
| NZD | 3374000 | USD | 1956448 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 78276 | &nbsp;&nbsp;&nbsp; 0 |
| PLN | 4998000 | USD | 1375141 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 31427 | &nbsp;&nbsp;&nbsp; 0 |
| SEK | 7852000 | USD | 846768 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 36653 | &nbsp;&nbsp;&nbsp; 0 |
| SEK | 5907000 | USD | 643712 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 20879 | &nbsp;&nbsp;&nbsp; 0 |
| ZAR | 21256000 | USD | 1242112 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 69582 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 1022263 | IDR | 17104303000 | Morgan Stanley, Inc. | 3-25-2026 | &nbsp;&nbsp;&nbsp; 4029 | &nbsp;&nbsp;&nbsp; 0 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; **$811970** | &nbsp;&nbsp;&nbsp; **$(74138)**<br>|

---

**Futures contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp; Notional <br>cost<br>| &nbsp;&nbsp; Notional <br>value<br>| &nbsp;&nbsp; Unrealized <br>gains<br>| &nbsp;&nbsp; Unrealized <br>losses<br>|
| **Long** |  |  |  |  |  |  |
| &nbsp;&nbsp; LME Lead Futures\*\* | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 2-16-2026 | &nbsp;&nbsp; $595140 | &nbsp;&nbsp; $592182 | &nbsp;&nbsp; $0 | &nbsp;&nbsp; $(2958)<br>|
| &nbsp;&nbsp; LME Nickel Futures\*\* | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 2-16-2026 | &nbsp;&nbsp; 1319876 | &nbsp;&nbsp; 1280442 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (39434)<br>|
| &nbsp;&nbsp; LME Zinc Futures\*\* | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2-16-2026 | &nbsp;&nbsp; 335170 | &nbsp;&nbsp; 340173 | &nbsp;&nbsp; 5003 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Volatility Index | &nbsp;&nbsp; 645 | &nbsp;&nbsp; 2-18-2026 | &nbsp;&nbsp; 12679290 | &nbsp;&nbsp; 12283896 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (395394)<br>|
| &nbsp;&nbsp; CAC 40 Index | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 2-20-2026 | &nbsp;&nbsp; 2083331 | &nbsp;&nbsp; 2025365 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (57966)<br>|
| &nbsp;&nbsp; Light Sweet Crude Oil Futures\*\* | &nbsp;&nbsp; 175 | &nbsp;&nbsp; 2-20-2026 | &nbsp;&nbsp; 10388802 | &nbsp;&nbsp; 11411750 | &nbsp;&nbsp; 1022948 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; OMX Stockholm 30 Index | &nbsp;&nbsp; 221 | &nbsp;&nbsp; 2-20-2026 | &nbsp;&nbsp; 7490206 | &nbsp;&nbsp; 7510154 | &nbsp;&nbsp; 19948 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Henry Hub Natural Gas Futures\*\* | &nbsp;&nbsp; 129 | &nbsp;&nbsp; 2-25-2026 | &nbsp;&nbsp; 3935822 | &nbsp;&nbsp; 5616660 | &nbsp;&nbsp; 1680838 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Brent Crude Oil Futures\*\* | &nbsp;&nbsp; 161 | &nbsp;&nbsp; 2-27-2026 | &nbsp;&nbsp; 10446916 | &nbsp;&nbsp; 11160520 | &nbsp;&nbsp; 713604 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Number 11 World Sugar Futures\*\* | &nbsp;&nbsp; 83 | &nbsp;&nbsp; 2-27-2026 | &nbsp;&nbsp; 1455258 | &nbsp;&nbsp; 1326539 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (128719)<br>|
| &nbsp;&nbsp; NY Harbor ULSD Futures\*\* | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 2-27-2026 | &nbsp;&nbsp; 1678501 | &nbsp;&nbsp; 1808562 | &nbsp;&nbsp; 130061 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reformulated Gasoline Blendstock for Oxygen Blending <br> Futures\*\*<br>| &nbsp;&nbsp; 14 | &nbsp;&nbsp; 2-27-2026 | &nbsp;&nbsp; 1096655 | &nbsp;&nbsp; 1142014 | &nbsp;&nbsp; 45359 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; 10-Year Euro BUND Index | &nbsp;&nbsp; 119 | &nbsp;&nbsp; 3-6-2026 | &nbsp;&nbsp; 18063545 | &nbsp;&nbsp; 18079224 | &nbsp;&nbsp; 15679 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; French Government Bond | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 3-6-2026 | &nbsp;&nbsp; 7024666 | &nbsp;&nbsp; 7081954 | &nbsp;&nbsp; 57288 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Gas Oil Futures\*\* | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 3-12-2026 | &nbsp;&nbsp; 1444546 | &nbsp;&nbsp; 1459000 | &nbsp;&nbsp; 14454 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; TOPIX Index | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 3-12-2026 | &nbsp;&nbsp; 678901 | &nbsp;&nbsp; 693396 | &nbsp;&nbsp; 14495 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Corn Futures\*\* | &nbsp;&nbsp; 64 | &nbsp;&nbsp; 3-13-2026 | &nbsp;&nbsp; 1368737 | &nbsp;&nbsp; 1370400 | &nbsp;&nbsp; 1663 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Soybean Futures\*\* | &nbsp;&nbsp; 31 | &nbsp;&nbsp; 3-13-2026 | &nbsp;&nbsp; 1680155 | &nbsp;&nbsp; 1649588 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (30567)<br>|
| &nbsp;&nbsp; Soybean Oil Futures\*\* | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 3-13-2026 | &nbsp;&nbsp; 2884261 | &nbsp;&nbsp; 3050070 | &nbsp;&nbsp; 165809 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Wheat Futures\*\* | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 3-13-2026 | &nbsp;&nbsp; 1160605 | &nbsp;&nbsp; 1210500 | &nbsp;&nbsp; 49895 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; 10-Year Australian Bond | &nbsp;&nbsp; 729 | &nbsp;&nbsp; 3-16-2026 | &nbsp;&nbsp; 55463571 | &nbsp;&nbsp; 55409770 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (53801)<br>|
| &nbsp;&nbsp; Australian Dollar Futures | &nbsp;&nbsp; 160 | &nbsp;&nbsp; 3-16-2026 | &nbsp;&nbsp; 10649859 | &nbsp;&nbsp; 11155200 | &nbsp;&nbsp; 505341 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Cocoa Futures\*\* | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 3-16-2026 | &nbsp;&nbsp; 44301 | &nbsp;&nbsp; 41650 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (2651)<br>|
| &nbsp;&nbsp; LME Copper Futures\*\* | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 3-16-2026 | &nbsp;&nbsp; 3220338 | &nbsp;&nbsp; 3280085 | &nbsp;&nbsp; 59747 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; LME Lead Futures\*\* | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 3-16-2026 | &nbsp;&nbsp; 763601 | &nbsp;&nbsp; 746670 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (16931)<br>|
| &nbsp;&nbsp; LME Nickel Futures\*\* | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 3-16-2026 | &nbsp;&nbsp; 1071198 | &nbsp;&nbsp; 1071055 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (143)<br>|

---

See accompanying consolidated notes to portfolio of investments

16 \| Allspring Real Return Portfolio

------

Consolidated portfolio of investments—January 31, 2026 (unaudited)

**Futures contracts** (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp; Number of<br> contracts<br>| &nbsp;&nbsp; Expiration<br> date<br>| &nbsp;&nbsp; Notional<br> cost<br>| &nbsp;&nbsp; Notional<br> value<br>| &nbsp;&nbsp; Unrealized<br> gains<br>| &nbsp;&nbsp; Unrealized<br> losses<br>|
| **Long** (continued) |  |  |  |  |  |  |
| &nbsp;&nbsp; LME Primary Aluminum Futures\*\* | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 3-16-2026 | &nbsp;&nbsp; $2373916 | &nbsp;&nbsp; $2353432 | &nbsp;&nbsp; $0 | &nbsp;&nbsp; $(20484)<br>|
| &nbsp;&nbsp; LME Zinc Futures\*\* | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 3-16-2026 | &nbsp;&nbsp; 1234818 | &nbsp;&nbsp; 1279463 | &nbsp;&nbsp; 44645 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; S&P ASX Share Price Index 200 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 3-19-2026 | &nbsp;&nbsp; 2258437 | &nbsp;&nbsp; 2305006 | &nbsp;&nbsp; 46569 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; S&P/TSX 60 Index | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 3-19-2026 | &nbsp;&nbsp; 2188294 | &nbsp;&nbsp; 2177006 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (11288)<br>|
| &nbsp;&nbsp; 10-Year Canadian Bond | &nbsp;&nbsp; 204 | &nbsp;&nbsp; 3-20-2026 | &nbsp;&nbsp; 18274213 | &nbsp;&nbsp; 18139992 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (134221)<br>|
| &nbsp;&nbsp; 10-Year U.S. Treasury Notes | &nbsp;&nbsp; 164 | &nbsp;&nbsp; 3-20-2026 | &nbsp;&nbsp; 18504436 | &nbsp;&nbsp; 18339812 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (164624)<br>|
| &nbsp;&nbsp; DAX Index | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 3-20-2026 | &nbsp;&nbsp; 1445539 | &nbsp;&nbsp; 1458928 | &nbsp;&nbsp; 13389 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; E-Mini NASDAQ 100 Index | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 3-20-2026 | &nbsp;&nbsp; 10694116 | &nbsp;&nbsp; 10781400 | &nbsp;&nbsp; 87284 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; E-Mini Russell 2000 Index | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 3-20-2026 | &nbsp;&nbsp; 514630 | &nbsp;&nbsp; 524920 | &nbsp;&nbsp; 10290 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; E-Mini S&P 500 Index | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 3-20-2026 | &nbsp;&nbsp; 344438 | &nbsp;&nbsp; 348288 | &nbsp;&nbsp; 3850 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Euro STOXX 50 Index | &nbsp;&nbsp; 172 | &nbsp;&nbsp; 3-20-2026 | &nbsp;&nbsp; 11786632 | &nbsp;&nbsp; 12132906 | &nbsp;&nbsp; 346274 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; FTSE 100 Index | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 3-20-2026 | &nbsp;&nbsp; 2572142 | &nbsp;&nbsp; 2649133 | &nbsp;&nbsp; 76991 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; MSCI Emerging Markets Index | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 3-20-2026 | &nbsp;&nbsp; 20828713 | &nbsp;&nbsp; 22812000 | &nbsp;&nbsp; 1983287 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Long Gilt Futures | &nbsp;&nbsp; 92 | &nbsp;&nbsp; 3-27-2026 | &nbsp;&nbsp; 11448860 | &nbsp;&nbsp; 11436946 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (11914)<br>|
| &nbsp;&nbsp; Silver Futures\*\* | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 3-27-2026 | &nbsp;&nbsp; 3270605 | &nbsp;&nbsp; 3141240 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (129365)<br>|
| &nbsp;&nbsp; 2-Year U.S. Treasury Notes | &nbsp;&nbsp; 598 | &nbsp;&nbsp; 3-31-2026 | &nbsp;&nbsp; 124773294 | &nbsp;&nbsp; 124678328 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (94966)<br>|
| &nbsp;&nbsp; 5-Year U.S. Treasury Notes | &nbsp;&nbsp; 820 | &nbsp;&nbsp; 3-31-2026 | &nbsp;&nbsp; 89489510 | &nbsp;&nbsp; 89322344 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (167166)<br>|
| &nbsp;&nbsp; Lean Hogs Futures\*\* | &nbsp;&nbsp; 63 | &nbsp;&nbsp; 4-15-2026 | &nbsp;&nbsp; 2397416 | &nbsp;&nbsp; 2397780 | &nbsp;&nbsp; 364 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Live Cattle Futures\*\* | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 4-30-2026 | &nbsp;&nbsp; 4561753 | &nbsp;&nbsp; 4546560 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (15193)<br>|
| &nbsp;&nbsp; C Coffee Futures\*\* | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 5-18-2026 | &nbsp;&nbsp; 955703 | &nbsp;&nbsp; 946050 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; (9653)<br>|
| **Short** |  |  |  |  |  |  |
| &nbsp;&nbsp; LME Lead Futures\*\* | &nbsp;&nbsp; (12)<br>| &nbsp;&nbsp; 2-16-2026 | &nbsp;&nbsp; (594954)<br>| &nbsp;&nbsp; (592182)<br>| &nbsp;&nbsp; 2772 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; LME Nickel Futures\*\* | &nbsp;&nbsp; (12)<br>| &nbsp;&nbsp; 2-16-2026 | &nbsp;&nbsp; (1288307)<br>| &nbsp;&nbsp; (1280442)<br>| &nbsp;&nbsp; 7865 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; LME Zinc Futures\*\* | &nbsp;&nbsp; (4)<br>| &nbsp;&nbsp; 2-16-2026 | &nbsp;&nbsp; (335108)<br>| &nbsp;&nbsp; (340173)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (5065)<br>|
| &nbsp;&nbsp; 10-Year Euro BUND Index | &nbsp;&nbsp; (16)<br>| &nbsp;&nbsp; 3-6-2026 | &nbsp;&nbsp; (2435670)<br>| &nbsp;&nbsp; (2430820)<br>| &nbsp;&nbsp; 4850 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Number 2 Cotton Futures\*\* | &nbsp;&nbsp; (18)<br>| &nbsp;&nbsp; 3-9-2026 | &nbsp;&nbsp; (589555)<br>| &nbsp;&nbsp; (568530)<br>| &nbsp;&nbsp; 21025 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; 10-Year Japanese Bond | &nbsp;&nbsp; (17)<br>| &nbsp;&nbsp; 3-13-2026 | &nbsp;&nbsp; (14507934)<br>| &nbsp;&nbsp; (14457030)<br>| &nbsp;&nbsp; 50904 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Hard Red Winter Wheat Futures\*\* | &nbsp;&nbsp; (83)<br>| &nbsp;&nbsp; 3-13-2026 | &nbsp;&nbsp; (2180536)<br>| &nbsp;&nbsp; (2260713)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (80177)<br>|
| &nbsp;&nbsp; Soybean Meal Futures\*\* | &nbsp;&nbsp; (19)<br>| &nbsp;&nbsp; 3-13-2026 | &nbsp;&nbsp; (582415)<br>| &nbsp;&nbsp; (557840)<br>| &nbsp;&nbsp; 24575 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; 10-Year Australian Bond | &nbsp;&nbsp; (59)<br>| &nbsp;&nbsp; 3-16-2026 | &nbsp;&nbsp; (4496591)<br>| &nbsp;&nbsp; (4484467)<br>| &nbsp;&nbsp; 12124 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; British Pound Futures | &nbsp;&nbsp; (213)<br>| &nbsp;&nbsp; 3-16-2026 | &nbsp;&nbsp; (17853702)<br>| &nbsp;&nbsp; (18234131)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (380429)<br>|
| &nbsp;&nbsp; Euro Futures | &nbsp;&nbsp; (98)<br>| &nbsp;&nbsp; 3-16-2026 | &nbsp;&nbsp; (14357025)<br>| &nbsp;&nbsp; (14568925)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (211900)<br>|
| &nbsp;&nbsp; LME Copper Futures\*\* | &nbsp;&nbsp; (7)<br>| &nbsp;&nbsp; 3-16-2026 | &nbsp;&nbsp; (2009452)<br>| &nbsp;&nbsp; (2296060)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (286608)<br>|
| &nbsp;&nbsp; LME Lead Futures\*\* | &nbsp;&nbsp; (6)<br>| &nbsp;&nbsp; 3-16-2026 | &nbsp;&nbsp; (298606)<br>| &nbsp;&nbsp; (298668)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (62)<br>|
| &nbsp;&nbsp; LME Nickel Futures\*\* | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; 3-16-2026 | &nbsp;&nbsp; (214182)<br>| &nbsp;&nbsp; (214211)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (29)<br>|
| &nbsp;&nbsp; LME Zinc Futures\*\* | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; 3-16-2026 | &nbsp;&nbsp; (170574)<br>| &nbsp;&nbsp; (170595)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (21)<br>|
| &nbsp;&nbsp; 10-Year Canadian Bond | &nbsp;&nbsp; (31)<br>| &nbsp;&nbsp; 3-20-2026 | &nbsp;&nbsp; (2747382)<br>| &nbsp;&nbsp; (2756567)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (9185)<br>|
| &nbsp;&nbsp; Ultra 10-Year U.S. Treasury Notes | &nbsp;&nbsp; (253)<br>| &nbsp;&nbsp; 3-20-2026 | &nbsp;&nbsp; (28991701)<br>| &nbsp;&nbsp; (28881531)<br>| &nbsp;&nbsp; 110170 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Ultra U.S. Treasury Bond | &nbsp;&nbsp; (320)<br>| &nbsp;&nbsp; 3-20-2026 | &nbsp;&nbsp; (38019728)<br>| &nbsp;&nbsp; (37580000)<br>| &nbsp;&nbsp; 439728 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Gold 100 Troy Ounces Futures\*\* | &nbsp;&nbsp; (27)<br>| &nbsp;&nbsp; 4-28-2026 | &nbsp;&nbsp; (14108492)<br>| &nbsp;&nbsp; (12811770)<br>| &nbsp;&nbsp; 1296722 | &nbsp;&nbsp; 0 |
|  |  |  |  |  | &nbsp;&nbsp; **$9085810** | &nbsp;&nbsp; **$(2460914)**<br>|

---

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

\*\* Represents an investment held in Real Return Special Investments (Cayman) Ltd., the consolidated entity.

See accompanying consolidated notes to portfolio of investments

Allspring Real Return Portfolio \| 17

------

Notes to consolidated portfolio of investments—January 31, 2026 (unaudited)

Notes to consolidated portfolio of investments

Investment in subsidiary

The Portfolio invests in direct or indirect investments in various derivatives, including commodity-linked derivatives, through Real Return Special Investments (Cayman) Ltd. (the "Subsidiary"), a wholly owned subsidiary incorporated on June 27, 2023 under the laws of the Cayman Islands as an exempted segregated portfolio company with limited liability. As of January 31, 2026, the Subsidiary had $51,006,353 of investments in affiliates and cash at broker segregated for futures contacts representing 99.02% of its net assets. As of January 31, 2026, the Portfolio held $51,508,692 in the Subsidiary, representing 15.28% of the Portfolio net assets prior to consolidation. The consolidated net assets of the Portfolio includes the Subsidiary. The Consolidated portfolio of investments includes positions of the Portfolio and the Subsidiary.

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 Portfolio may deviate from this calculation time under unusual or unexpected circumstances.

Debt securities are valued at the evaluated bid price provided by an independent pricing service (e.g., taking into account various factors, including yields, maturities, or credit ratings) or, if a reliable price is not available, the quoted bid price from an independent broker-dealer.

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

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").

Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange and therefore may not fully reflect trading or events that occur after the close of the principal exchange in which the foreign securities are traded, but before the close of the New York Stock Exchange. If such trading or events are expected to materially affect the value of such securities, then fair value pricing procedures implemented by Allspring Funds Management are applied. These procedures take into account multiple factors including movements in U.S. securities markets after foreign exchanges close. Foreign securities that are fair valued under these procedures are categorized as Level 2 and the application of these procedures may result in transfers between Level 1 and Level 2. Depending on market activity, such fair valuations may be frequent. Such fair value pricing may result in net asset values that are higher or lower than net asset values based on the last reported sales price or latest quoted bid price. On January 31, 2026, such fair value pricing was not used in pricing foreign securities.

Forward foreign currency contracts are recorded at the forward rate provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee at 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.

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 Portfolio 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.

Loans

The Portfolio may invest in direct debt instruments which are interests in amounts owed to lenders by corporate or other borrowers. The loans pay interest at rates which are periodically reset by reference to a base lending rate plus a spread. Investments in loans may be in the form of participations in loans or assignments of all or a portion of loans from third parties. When the Portfolio purchases participations, it generally has no rights to enforce

18 \| Allspring Real Return Portfolio

------

Notes to consolidated portfolio of investments—January 31, 2026 (unaudited)

compliance with the terms of the loan agreement with the borrower. As a result, the Portfolio assumes the credit risk of both the borrower and the lender that is selling the participation. When the Portfolio purchases assignments from lenders, it acquires direct rights against the borrower on the loan and may enforce compliance by the borrower with the terms of the loan agreement. Loans may include fully funded term loans or unfunded loan commitments, which are contractual obligations for future funding. Unfunded loan commitments represent the remaining obligation of the Fund to the borrower. At any point in time, up to the maturity date of the issue, the borrower may demand the unfunded portion. Unfunded amounts, if any, are marked to market.

Forward foreign currency contracts

A forward foreign currency contract is an agreement between two parties to purchase or sell a specific currency for an agreed-upon price at a future date. The Portfolio enters into forward foreign currency contracts to facilitate transactions in foreign-denominated securities and to attempt to minimize the risk to the Portfolio from adverse changes in the relationship between currencies. Forward foreign currency contracts are recorded at the forward rate and marked-to-market daily. When the contracts are closed, realized gains and losses arising from such transactions are recorded as realized gains or losses on forward foreign currency contracts. The Portfolio is subject to foreign currency risk and may be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. The Portfolio's maximum risk of loss from counterparty credit risk is the unrealized gains on the contracts. This risk may be mitigated if there is a master netting arrangement between the Portfolio and the counterparty.

Futures contracts

Futures contracts are agreements between the Portfolio and a counterparty to buy or sell a specific amount of a commodity, financial instrument or currency at a specified price and on a specified date. The Portfolio may buy and sell futures contracts in order to gain exposure to, or protect against, changes in interest rates, security values, commodity prices and foreign exchange rates and is subject to interest rate risk, equity price risk, commodity price risk and foreign currency risk. The primary risks associated with the use of futures contracts are the imperfect correlation between changes in market values of securities held by the Portfolio and the prices of futures contracts, and the possibility of an illiquid market. Futures contracts are generally entered into on a regulated futures exchange and cleared through a clearinghouse associated with the exchange. With futures contracts, there is minimal counterparty risk to the Portfolio since futures contracts are exchange-traded and the exchange's clearinghouse, as the counterparty to all exchange-traded futures, guarantees the futures contracts against default.

Upon entering into a futures contract, the Portfolio is required to deposit either cash or securities (initial margin) with the broker in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are paid to or received from the broker each day equal to the daily changes in the contract value. Such payments are recorded as unrealized gains or losses and, if any, shown as variation margin receivable (payable). Should the Portfolio fail to make requested variation margin payments, the broker can gain access to the initial margin to satisfy the Portfolio's payment obligations. When the contracts are closed, a realized gain or loss is recorded.

Inflation-indexed bonds and TIPS

The Portfolio may invest in inflation-indexed bonds, including Treasury inflation-protected securities (TIPS). Inflation-indexed bonds are fixed income securities whose principal value is periodically adjusted according to the rate of inflation. If the index measuring inflation falls, the principal value of inflation-indexed bonds (other than municipal inflation-indexed bonds and certain corporate inflation-indexed bonds) will be adjusted downward, and consequently the interest payable on these securities (calculated with respect to a smaller principal amount) will be reduced. Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury inflation-indexed bonds. For bonds that do not provide a similar guarantee, the adjusted principal value of the bond repaid at maturity may be less than the original principal. The value of inflation-indexed bonds is expected to change in response to changes in real interest rates. Real interest rates are tied to the relationship between nominal interest rates and the rate of inflation. If nominal interest rates increase at a faster rate than inflation, real interest rates may rise, leading to a decrease in value of inflation-indexed bonds. Inflation-indexed bonds, including TIPS, decline in value when real interest rates rise. In certain interest rate environments, such as when real interest rates are rising faster than nominal interest rates, inflation-indexed bonds may experience greater losses than other fixed income securities with similar durations.

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 Portfolio'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 Portfolio'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 Portfolio's own assumptions in determining the fair value of investments)

Allspring Real Return Portfolio \| 19

------

Notes to consolidated portfolio of investments—January 31, 2026 (unaudited)

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; 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; $5762775 | &nbsp;&nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $5762775 |
| *Consumer discretionary* | &nbsp;&nbsp; 6457828 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 6457828 |
| *Consumer staples* | &nbsp;&nbsp; 2302078 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 2302078 |
| *Energy* | &nbsp;&nbsp; 3047688 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 3047688 |
| *Financials* | &nbsp;&nbsp; 8398536 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 8398536 |
| *Health care* | &nbsp;&nbsp; 7318283 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 7318283 |
| *Industrials* | &nbsp;&nbsp; 10889000 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 10889000 |
| *Information technology* | &nbsp;&nbsp; 18855405 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 18855405 |
| *Materials* | &nbsp;&nbsp; 15885835 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 15885835 |
| *Real estate* | &nbsp;&nbsp; 18358205 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 18358205 |
| *Utilities* | &nbsp;&nbsp; 2202218 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 2202218 |
| **Corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 24245071 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 24245071 |
| **Investment companies** | &nbsp;&nbsp; 31516980 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 31516980 |
| **Loans** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 195973 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 195973 |
| **U.S. Treasury securities** | &nbsp;&nbsp; 73317921 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 73317921 |
| **Yankee corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 4080313 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 4080313 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 128005592 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 128005592 |
|  | &nbsp;&nbsp; 332318344 | &nbsp;&nbsp;&nbsp;&nbsp; 28521357 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 360839701 |
| **Forward foreign currency contracts** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 811970 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 811970 |
| **Futures contracts** | &nbsp;&nbsp; 9085810 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 9085810 |
| **Total assets** | &nbsp;&nbsp; **$341404154** | &nbsp;&nbsp;&nbsp; **$29333327** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$370737481** |
| **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** |
| **Forward foreign currency contracts** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $74138 | &nbsp;&nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $74138 |
| **Futures contracts** | &nbsp;&nbsp; 2460914 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 2460914 |
| **Total liabilities** | &nbsp;&nbsp; **$2460914** | &nbsp;&nbsp;&nbsp; **$74138** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$2535052** |

---

Futures contracts and forward foreign currency contracts are reported at their cumulative unrealized gains (losses) at measurement date as reported in the tables following the Consolidated portfolio of investments. All other assets and liabilities are reported at their market value at measurement date.

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

As of January 31, 2026, $26,031,800 was segregated as cash collateral for these open futures contracts. The Portfolio also had $880,000 segregated as cash collateral for open forward foreign currency contracts.

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

20 \| Allspring Real Return Portfolio

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** ALLSPRING MASTER TRUST

- **b. Investment Company Act file number:** 811-09689

- **c. CIK number of Registrant:** 0001087961

- **d. LEI of Registrant:** 549300RK07I40T8DF120

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1415 Vantage Park Drive

  - **City:** Charlotte

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 28203

  - **Telephone number:** 833-568-4255

**Item A.2. Information about the Series.**

- **a. Name of Series:** Allspring Real Return Portfolio

- **b. EDGAR series identifier (if any):** S000007549

- **c. LEI of Series:** 54930082DLIF1PX1JB16

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2026-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $388824772.13

**Total Liabilities:** $203296.98

**Net Assets:** $388621475.15

**Amount of Assets Invested in Other Investment Companies:** $51518250.00

**Cash Not Reported:** $18783479.74

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -16.19000000 | **1-Year:** -206.73000000 | **5-Year:** -64.94000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -310.35000000 | **1-Year:** -1764.75000000 | **5-Year:** -984.99000000 | **10-Year:** -54.04000000 | **30-Year:** -57.77000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000020607 | 0.27%                | 0.01%                | 6.55%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $409369.55               | $1183538.62                                |
| Month 2  | $490744.73               | $-1410645.32                               |
| Month 3  | $29122.58                | $4695518.05                                |

**Designated Index Information**

- **Index Name:** Real Return Portfolio blended benchmark

- **Index Identifier:** REAL_RTN_BMK

### Schedule of Portfolio Investments

| Name                                              | Title                                                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AMERICAN AIRLINES/AADVAN                          | American Airlines Inc/AAdvantage Loyalty IP Ltd                                  | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     71834 | PA      | $71885.22     | 0.02%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                   | AdaptHealth LLC                                                                  | CUSIP: 00653VAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $115420.21    | 0.03%             | 2028-08-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                   | AdaptHealth LLC                                                                  | CUSIP: 00653VAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $115904.40    | 0.03%             | 2029-08-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                            | Adient Global Holdings Ltd                                                       | CUSIP: 00687YAC9<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    125000 | PA      | $130972.38    | 0.03%             | 2031-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS                                | Advance Auto Parts Inc                                                           | CUSIP: 00751YAF3<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    115000 | PA      | $109338.10    | 0.03%             | 2027-10-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS                                | Advance Auto Parts Inc                                                           | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    245000 | PA      | $249153.95    | 0.06%             | 2030-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AETHON UN/AETHIN UN FIN                           | Aethon United BR LP / Aethon United Finance Corp                                 | CUSIP: 00810GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $142059.96    | 0.04%             | 2029-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Agnico Eagle Mines Ltd                            | Agnico Eagle Mines Ltd                                                           | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |      4225 | NS      | $804862.50    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd                            | Agnico Eagle Mines Ltd                                                           | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |      2401 | NS      | $456413.06    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AIR CANADA 2020-1C PTT                            | Air Canada 2020-1 Class C Pass Through Trust                                     | CUSIP: 008911BD0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    475000 | PA      | $487495.78    | 0.13%             | 2026-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                                     | Aircastle Ltd                                                                    | CUSIP: 00928QAW1<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |    100000 | PA      | $99864.92     | 0.03%             | 2026-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Alamos Gold Inc                                   | Alamos Gold Inc                                                                  | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |     15000 | NS      | $555869.72    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                            | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AB7<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135039.96    | 0.03%             | 2028-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                            | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 01309QAA6<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101601.40    | 0.03%             | 2028-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Alexandria Real Estate Equities Inc               | Alexandria Real Estate Equities Inc                                              | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               |  | US        |      3187 | NS      | $174137.68    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ALGONQUIN PWR & UTILITY                           | Algonquin Power & Utilities Corp                                                 | CUSIP: 015857AH8<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |     10000 | PA      | $9927.41      | 0.00%             | 2082-01-18      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                          | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    210000 | PA      | $213474.45    | 0.05%             | 2028-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ATLAS LUXCO 4 / ALL UNI                           | Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl     | CUSIP: 019579AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     75000 | PA      | $73985.29     | 0.02%             | 2028-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc                                      | Alphabet Inc                                                                     | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      8565 | NS      | $2894970.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| ALUMINA PTY LTD                                   | Alumina Pty Ltd                                                                  | CUSIP: 02220AAA5<br>LEI: 2138002VD9MW2WT8HR38 | Long             | DBT              | CORP              | AU        |    170000 | PA      | $175365.03    | 0.05%             | 2030-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Amazon.com Inc                                    | Amazon.com Inc                                                                   | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      8190 | NS      | $1959867.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN AIRLINES INC                             | American Airlines Inc                                                            | CUSIP: 023771T32<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |    105000 | PA      | $106897.88    | 0.03%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co Inc                    | American Electric Power Co Inc                                                   | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |      5936 | NS      | $710984.40    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                             | American Homes 4 Rent                                                            | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               |  | US        |     14707 | NS      | $460623.24    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                               | American Tower Corp                                                              | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               |  | US        |      7697 | NS      | $1379918.16   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Co Inc                       | American Water Works Co Inc                                                      | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |      4420 | NS      | $570754.60    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| AMWINS GROUP INC                                  | AmWINS Group Inc                                                                 | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |    175000 | PA      | $179564.35    | 0.05%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Amphenol Corp                                     | Amphenol Corp                                                                    | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |      8922 | NS      | $1285481.76   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management Inc                     | Annaly Capital Management Inc                                                    | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               |  | US        |     42801 | NS      | $984851.01    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                          | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $135053.60    | 0.03%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Apple Inc                                         | Apple Inc                                                                        | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      4684 | NS      | $1215404.32   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                                     | AppLovin Corp                                                                    | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |       802 | NS      | $379434.22    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCHES BUYER INC                                  | Arches Buyer Inc                                                                 | CUSIP: 039524AA1<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |    180000 | PA      | $177029.84    | 0.05%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Arista Networks Inc                               | Arista Networks Inc                                                              | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      9384 | NS      | $1330088.16   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Artemis Gold Inc                                  | Artemis Gold Inc                                                                 | CUSIP: 04302L100<br>LEI: 529900GXBX7DGL5YMO49 | Long             | EC               | CORP              | CA        |     16000 | NS      | $463907.76    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs Inc                                   | Astera Labs Inc                                                                  | CUSIP: 04626A103<br>LEI: 529900LJL8TUEGF7HG20 | Long             | EC               | CORP              | US        |      1520 | NS      | $228942.40    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Asurion LLC                                       | Asurion LLC 2023 Term Loan B11                                                   | CUSIP: 04649VBC3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    114705 | PA      | $114830.16    | 0.03%             | 2028-08-19      | Floating      | 8.02%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                    | Azorra Finance Ltd                                                               | CUSIP: 05480AAA3<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |    190000 | PA      | $199954.10    | 0.05%             | 2030-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Baker Hughes Co                                   | Baker Hughes Co                                                                  | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14198 | NS      | $795655.92    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                          | Banco Mercantil del Norte SA/Grand Cayman                                        | CUSIP: 05973KAA5<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |    120000 | PA      | $119464.72    | 0.03%             | 2027-01-24      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                              | Bank of America Corp                                                             | CUSIP: 060505GB4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    275000 | PA      | $273585.95    | 0.07%             | 2027-01-27      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                            | Bank of New York Mellon Corp/The                                                 | CUSIP: 064058AL4<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73783.10     | 0.02%             | 2026-12-20      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Barrick Mining Corp                               | Barrick Mining Corp                                                              | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |     18036 | NS      | $825868.44    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| BAUSCH + LOMB CORP                                | Bausch + Lomb Corp                                                               | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |    245000 | PA      | $255412.50    | 0.07%             | 2028-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR                            | Blackstone Mortgage Trust Inc                                                    | CUSIP: 09257WAD2<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              |  | US        |     65000 | PA      | $64139.24     | 0.02%             | 2027-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BXP Inc                                           | BXP Inc                                                                          | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               |  | US        |      8157 | NS      | $527513.19    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BRANDYWINE OPER PARTNERS                          | Brandywine Operating Partnership LP                                              | CUSIP: 105340AQ6<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              |  | US        |    135000 | PA      | $132379.72    | 0.03%             | 2027-11-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERS                          | Brandywine Operating Partnership LP                                              | CUSIP: 105340AS2<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              |  | US        |     70000 | PA      | $75210.31     | 0.02%             | 2029-04-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co                           | Bristol-Myers Squibb Co                                                          | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     17081 | NS      | $940309.05    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOW GROUP INC                                 | Bristow Group Inc                                                                | CUSIP: 11040GAA1<br>LEI: 5493005Q24EN3UC1PV68 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250264.75    | 0.06%             | 2028-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                      | Broadcom Inc                                                                     | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      7104 | NS      | $2353555.20   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc                                 | Brown & Brown Inc                                                                | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |     10936 | NS      | $788485.60    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp                                       | B2Gold Corp                                                                      | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |     12000 | NS      | $58429.11     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BUCKEYE PARTNERS LP                               | Buckeye Partners LP                                                              | CUSIP: 118230AV3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    115000 | PA      | $119557.91    | 0.03%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                            | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    174000 | PA      | $174071.23    | 0.04%             | 2027-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                            | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    195000 | PA      | $193926.37    | 0.05%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CBRE Group Inc                                    | CBRE Group Inc                                                                   | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      3789 | NS      | $645380.37    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Cablevision Lightpath LLC                         | Cablevision Lightpath LLC 2025 Repriced Term Loan                                | CUSIP: 12687HAD9<br>LEI: 5493002ZVBLRLGES1R71 | Long             | LON              | CORP              | US        |     54586 | PA      | $54472.93     | 0.01%             | 2027-11-30      | Floating      | 6.68%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CRP                          | California Resources Corp                                                        | CUSIP: 13057QAK3<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |    125000 | PA      | $131472.52    | 0.03%             | 2029-06-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Camden Property Trust                             | Camden Property Trust                                                            | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               |  | US        |      4549 | NS      | $496068.45    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Kansas City Ltd                  | Canadian Pacific Kansas City Ltd                                                 | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     10800 | NS      | $802872.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                          | Capital One Financial Corp                                                       | CUSIP: 14040HDK8<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25086.73     | 0.01%             | 2027-10-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                     | Carnival Corp                                                                    | CUSIP: 143658CB6<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    130000 | PA      | $131523.66    | 0.03%             | 2029-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Carvana Co                                        | Carvana Co                                                                       | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |       655 | NS      | $262727.05    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CARVANA CO                                        | Carvana Co                                                                       | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    130000 | PA      | $143008.77    | 0.04%             | 2031-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                        | Carvana Co                                                                       | CUSIP: 146869AN2<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    140000 | PA      | $145977.30    | 0.04%             | 2030-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                          | Celanese US Holdings LLC                                                         | CUSIP: 15089QAW4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     60000 | PA      | $62986.92     | 0.02%             | 2028-11-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                          | Celanese US Holdings LLC                                                         | CUSIP: 15089QAZ7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    115000 | PA      | $117002.26    | 0.03%             | 2030-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CENTRAL GARDEN & PET CO                           | Central Garden & Pet Co                                                          | CUSIP: 153527AM8<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39968.48     | 0.01%             | 2028-02-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Charles River Laboratories International Inc      | Charles River Laboratories International Inc                                     | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |      3932 | NS      | $827607.36    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CHART INDUSTRIES INC                              | Chart Industries Inc                                                             | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10404.65     | 0.00%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                       | Chemours Co/The                                                                  | CUSIP: 163851AE8<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    205000 | PA      | $206353.62    | 0.05%             | 2027-05-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                       | Chemours Co/The                                                                  | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74378.60     | 0.02%             | 2028-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Inc                               | Cheniere Energy Inc                                                              | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      2000 | NS      | $423040.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CHURCHILL DOWNS INC                               | Churchill Downs Inc                                                              | CUSIP: 171484AG3<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    430000 | PA      | $429924.11    | 0.11%             | 2027-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CINEMARK USA INC                                  | Cinemark USA Inc                                                                 | CUSIP: 172441BF3<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |    375000 | PA      | $374628.98    | 0.10%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                     | Citigroup Inc                                                                    | CUSIP: 172967KM2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    225000 | PA      | $226329.30    | 0.06%             | 2026-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                     | Citigroup Inc                                                                    | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    305000 | PA      | $304508.40    | 0.08%             | 2026-02-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                      | SM Energy Co                                                                     | CUSIP: 17888HAA1<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    155000 | PA      | $159541.19    | 0.04%             | 2028-07-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                      | SM Energy Co                                                                     | CUSIP: 17888HAC7<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     45000 | PA      | $47593.17     | 0.01%             | 2030-11-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                          | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    155000 | PA      | $161634.47    | 0.04%             | 2031-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                              | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AQ4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    330000 | PA      | $342938.31    | 0.09%             | 2029-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                            | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAA3<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    165000 | PA      | $166453.65    | 0.04%             | 2029-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                            | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAC9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60780.00     | 0.02%             | 2030-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Coeur Mining Inc                                  | Coeur Mining Inc                                                                 | CUSIP: 192108504<br>LEI: 5493003AVK173D48DR70 | Long             | EC               | CORP              | US        |      9003 | NS      | $184021.32    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Coinbase Global Inc                               | Coinbase Global Inc                                                              | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |      1022 | NS      | $199024.28    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CORECIVIC INC                                     | CoreCivic Inc                                                                    | CUSIP: 21871NAC5<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |    325000 | PA      | $340407.28    | 0.09%             | 2029-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Costco Wholesale Corp                             | Costco Wholesale Corp                                                            | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |       741 | NS      | $696725.25    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CROCS INC                                         | Crocs Inc                                                                        | CUSIP: 227046AA7<br>LEI: 549300B0J6YCXD63OG72 | Long             | DBT              | CORP              | US        |    155000 | PA      | $149552.03    | 0.04%             | 2029-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Crown Castle Inc                                  | Crown Castle Inc                                                                 | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               |  | US        |      4153 | NS      | $360521.93    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                                         | CubeSmart                                                                        | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               |  | US        |      8457 | NS      | $317391.21    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Deckers Outdoor Corp                              | Deckers Outdoor Corp                                                             | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |      6097 | NS      | $727615.98    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies Inc                             | Dell Technologies Inc                                                            | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |      4256 | NS      | $487056.64    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| DirecTV Financing LLC                             | DirecTV Financing LLC Term Loan                                                  | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      5829 | PA      | $5831.46      | 0.00%             | 2027-08-02      | Floating      | 8.93%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                             | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    235000 | PA      | $236144.69    | 0.06%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DoorDash Inc                                      | DoorDash Inc                                                                     | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |      2948 | NS      | $603219.76    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED AUD / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | AU        |         1 | NC      | $59532.10     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED CZK / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | CZ        |         1 | NC      | $16254.24     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED HUF / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | HU        |         1 | NC      | $32296.74     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD NZD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $-8425.67     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED PLN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | PL        |         1 | NC      | $31427.09     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD INR                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $50980.61     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | BR        |         1 | NC      | $63187.35     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED CLP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | CL        |         1 | NC      | $36392.74     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED NOK / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | NO        |         1 | NC      | $31800.95     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD KRW                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $-35724.36    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD IDR                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $4029.04      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED EUR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | XX        |         1 | NC      | $14734.50     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED CHF / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | CH        |         1 | NC      | $9072.57      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED GBP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | GB        |         1 | NC      | $42911.71     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED CAD / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | CA        |         1 | NC      | $15350.45     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED ZAR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | ZA        |         1 | NC      | $69581.81     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED SEK / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | SE        |         1 | NC      | $36652.91     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD JPY                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $-9839.90     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | MX        |         1 | NC      | $59733.93     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| DPM Metals Inc                                    | DPM Metals Inc                                                                   | CUSIP: 26139R109<br>LEI: 549300LATVTU0EIUMD45 | Long             | EC               | CORP              | CA        |     14000 | NS      | $488480.89    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc                                 | EOG Resources Inc                                                                | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      7773 | NS      | $871586.49    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | BR        |         1 | NC      | $16211.79     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD KRW                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $-5855.48     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED GBP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | GB        |         1 | NC      | $5254.50      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED NZD / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | NZ        |         1 | NC      | $78275.58     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED HUF / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | HU        |         1 | NC      | $14640.46     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED AUD / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | AU        |         1 | NC      | $20431.45     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD INR                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $23749.72     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD CAD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $-14293.30    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED SEK / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | SE        |         1 | NC      | $20879.25     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED NOK / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | NO        |         1 | NC      | $29143.80     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | MX        |         1 | NC      | $20884.39     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED EUR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | XX        |         1 | NC      | $8561.10      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EDGEWELL PERSONAL CARE                            | Edgewell Personal Care Co                                                        | CUSIP: 28035QAA0<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |    240000 | PA      | $240077.76    | 0.06%             | 2028-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Edwards Lifesciences Corp                         | Edwards Lifesciences Corp                                                        | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      7616 | NS      | $619637.76    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Eldorado Gold Corp                                | Eldorado Gold Corp                                                               | CUSIP: 284902509<br>LEI: 5493004PWQ01YDD1IH62 | Long             | EC               | CORP              | CA        |      6300 | NS      | $270294.13    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                                   | EMCOR Group Inc                                                                  | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      2054 | NS      | $1480379.42   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| EMERA INC                                         | Emera Inc                                                                        | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |    205000 | PA      | $206400.36    | 0.05%             | 2076-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                      | Enbridge Inc                                                                     | CUSIP: 29250NBN4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $102996.28    | 0.03%             | 2083-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ENCORE CAPITAL GROUP INC                          | Encore Capital Group Inc                                                         | CUSIP: 292554AQ5<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |    215000 | PA      | $225420.36    | 0.06%             | 2029-04-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                            | Energizer Holdings Inc                                                           | CUSIP: 29272WAC3<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    165000 | PA      | $163239.09    | 0.04%             | 2028-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                               | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20092.40     | 0.01%             | 2026-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Equinix Inc                                       | Equinix Inc                                                                      | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               |  | US        |      1867 | NS      | $1532676.31   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinox Gold Corp                                 | Equinox Gold Corp                                                                | CUSIP: 29446Y502<br>LEI: 5493005IN4V1SNP9PN75 | Long             | EC               | CORP              | CA        |      9050 | NS      | $129470.86    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc                   | Equity LifeStyle Properties Inc                                                  | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               |  | US        |      7960 | NS      | $502833.20    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| EXCELERATE ENERGY LP                              | Excelerate Energy LP                                                             | CUSIP: 30069UAA6<br>LEI: LGL4IE90TNTFYJ55BK06 | Long             | DBT              | CORP              | US        |    225000 | PA      | $240610.73    | 0.06%             | 2030-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Exelixis Inc                                      | Exelixis Inc                                                                     | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |     13000 | NS      | $537680.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc                           | Extra Space Storage Inc                                                          | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               |  | US        |      5297 | NS      | $730827.09    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| FORVIA SE                                         | Forvia SE                                                                        | CUSIP: 31209DAA3<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |     75000 | PA      | $80067.70     | 0.02%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Federal Realty Investment Trust                   | Federal Realty Investment Trust                                                  | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               |  | US        |      2367 | NS      | $239445.72    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                               | Fifth Third Bancorp                                                              | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |     28610 | NS      | $1436794.20   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens BancShares Inc/NC                  | First Citizens BancShares Inc/NC                                                 | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |       350 | NS      | $724349.50    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust Inc                 | First Industrial Realty Trust Inc                                                | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               |  | US        |      8632 | NS      | $500914.96    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp                                  | FirstEnergy Corp                                                                 | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |     19444 | NS      | $920478.96    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                          | Ford Motor Credit Co LLC                                                         | CUSIP: 345397A86<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    300000 | PA      | $298538.60    | 0.08%             | 2027-08-17      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                           | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    430000 | PA      | $430413.23    | 0.11%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Four Corners Property Trust Inc                   | Four Corners Property Trust Inc                                                  | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               |  | US        |      8558 | NS      | $210954.70    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corp                                          | Fox Corp                                                                         | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |     11700 | NS      | $851526.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Franco-Nevada Corp                                | Franco-Nevada Corp                                                               | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |      1500 | NS      | $351125.47    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| GEO GROUP INC/THE                                 | GEO Group Inc/The                                                                | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |    400000 | PA      | $418293.10    | 0.11%             | 2029-04-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                 | GEO Group Inc/The                                                                | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |     65000 | PA      | $70922.80     | 0.02%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| G Mining Ventures Corp                            | G Mining Ventures Corp                                                           | CUSIP: 36270K102<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     17500 | NS      | $554823.19    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties Inc                 | Gaming and Leisure Properties Inc                                                | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               |  | US        |      6242 | NS      | $279329.50    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| GAP INC/THE                                       | Gap Inc/The                                                                      | CUSIP: 364760AP3<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |    180000 | PA      | $171191.18    | 0.04%             | 2029-10-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| GLOBAL AIR LEASE CO LTD                           | Global Aircraft Leasing Co Ltd                                                   | CUSIP: 37960JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    275000 | PA      | $284661.03    | 0.07%             | 2027-09-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                                        | goeasy Ltd                                                                       | CUSIP: 380355AH0<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    145000 | PA      | $149072.47    | 0.04%             | 2028-12-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Gold Fields Ltd                                   | Gold Fields Ltd                                                                  | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |     11800 | NS      | $591416.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co                      | Graphic Packaging Holding Co                                                     | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44089 | NS      | $645903.85    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC                            | Group 1 Automotive Inc                                                           | CUSIP: 398905AQ2<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |    170000 | PA      | $174508.57    | 0.04%             | 2030-01-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| HARVEST MIDSTREAM I LP                            | Harvest Midstream I LP                                                           | CUSIP: 417558AA1<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |    315000 | PA      | $319329.05    | 0.08%             | 2028-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                 | Herc Holdings Inc                                                                | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     95000 | PA      | $99708.49     | 0.03%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                          | Hess Midstream Operations LP                                                     | CUSIP: 428102AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $183415.14    | 0.05%             | 2028-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                          | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AS3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $221806.20    | 0.06%             | 2028-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                             | HUB International Ltd                                                            | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |     35000 | PA      | $36517.39     | 0.01%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                             | Huntington Bancshares Inc/OH                                                     | CUSIP: 446150AV6<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    225000 | PA      | $221815.08    | 0.06%             | 2027-10-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| IAMGOLD Corp                                      | IAMGOLD Corp                                                                     | CUSIP: 450913108<br>LEI: 254900E7II30XAB9LA72 | Long             | EC               | CORP              | CA        |     37300 | NS      | $676886.87    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                             | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102BT3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     33000 | PA      | $33001.06     | 0.01%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Independence Realty Trust Inc                     | Independence Realty Trust Inc                                                    | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               |  | US        |     18040 | NS      | $301268.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group Inc                     | Interactive Brokers Group Inc                                                    | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     11973 | NS      | $896538.24    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                              | Invitation Homes Inc                                                             | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               |  | US        |     17628 | NS      | $471196.44    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc                                 | Iron Mountain Inc                                                                | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               |  | US        |      7819 | NS      | $720364.47    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| IRON MOUNTAIN INC                                 | Iron Mountain Inc                                                                | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    360000 | PA      | $359897.36    | 0.09%             | 2028-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| iShares MSCI Brazil ETF                           | iShares MSCI Brazil ETF                                                          | CUSIP: 464286400<br>LEI: 5493006D2L7KY3ZDF809 | Long             | EC               | RF                | US        |    263000 | NS      | $9741520.00   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI South Korea ETF                      | iShares MSCI South Korea ETF                                                     | CUSIP: 464286772<br>LEI: GR1QY1XUY5M0EJSI5J57 | Long             | EC               | RF                | US        |     84000 | NS      | $10282440.00  | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares J.P. Morgan USD Emerging Markets Bond ETF | iShares J.P. Morgan USD Emerging Markets Bond ETF                                | CUSIP: 464288281<br>LEI: 54930070R8WH6MNUJG74 | Long             | EC               | RF                | US        |    119000 | NS      | $11493020.00  | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                               | JPMorgan Chase & Co                                                              | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      2267 | NS      | $693452.63    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Jacobs Solutions Inc                              | Jacobs Solutions Inc                                                             | CUSIP: 46982L108<br>LEI: 254900E3KHXCC2C8K272 | Long             | EC               | CORP              | US        |      4991 | NS      | $675082.66    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Jefferies Financial Group Inc                     | Jefferies Financial Group Inc                                                    | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |     15800 | NS      | $966644.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| JEFFERSON CAPITAL HOLDIN                          | Jefferson Capital Holdings LLC                                                   | CUSIP: 472481AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $199134.42    | 0.05%             | 2026-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CAPITAL HOLDIN                          | Jefferson Capital Holdings LLC                                                   | CUSIP: 472481AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $57710.13     | 0.01%             | 2029-02-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| KLA Corp                                          | KLA Corp                                                                         | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       684 | NS      | $976710.96    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                           | K Hovnanian Enterprises Inc                                                      | CUSIP: 48251UAP3<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |     55000 | PA      | $56345.58     | 0.01%             | 2031-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper Inc                              | Keurig Dr Pepper Inc                                                             | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     28328 | NS      | $777320.32    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| KINETIK HOLDINGS LP                               | Kinetik Holdings LP                                                              | CUSIP: 49461MAB6<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |    375000 | PA      | $386144.25    | 0.10%             | 2028-12-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Kinross Gold Corp                                 | Kinross Gold Corp                                                                | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |     35000 | NS      | $1102192.19   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| KOHL'S CORPORATION                                | Kohl's Corp                                                                      | CUSIP: 500255AY0<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |     70000 | PA      | $76683.74     | 0.02%             | 2030-06-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                             | Bath & Body Works Inc                                                            | CUSIP: 501797AW4<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76807.80     | 0.02%             | 2030-10-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| L3Harris Technologies Inc                         | L3Harris Technologies Inc                                                        | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |      2276 | NS      | $780326.60    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Labcorp Holdings Inc                              | Labcorp Holdings Inc                                                             | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4308 | NS      | $1169708.16   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                          | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp               | CUSIP: 505742AP1<br>LEI: N/A                  | Long             | DBT              |  | US        |    220000 | PA      | $218164.06    | 0.06%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LATAM AIRLINES GROUP SA                           | Latam Airlines Group SA                                                          | CUSIP: 51817RAD8<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |     25000 | PA      | $26229.50     | 0.01%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| LATAM AIRLINES GROUP SA                           | Latam Airlines Group SA                                                          | CUSIP: 51817RAE6<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |    140000 | PA      | $146825.00    | 0.04%             | 2031-01-07      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Leidos Holdings Inc                               | Leidos Holdings Inc                                                              | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |      2746 | NS      | $517016.88    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                                    | Eli Lilly & Co                                                                   | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       940 | NS      | $974921.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| LITHIA MOTORS INC                                 | Lithia Motors Inc                                                                | CUSIP: 536797AE3<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29943.16     | 0.01%             | 2027-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                          | Live Nation Entertainment Inc                                                    | CUSIP: 538034AV1<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    265000 | PA      | $266190.63    | 0.07%             | 2027-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Lundin Gold Inc                                   | Lundin Gold Inc                                                                  | CUSIP: 550371108<br>LEI: 549300ZOV16K515FC525 | Long             | EC               | CORP              | CA        |      9000 | NS      | $674710.83    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD                          | Macquarie Airfinance Holdings Ltd                                                | CUSIP: 55609NAC2<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    140000 | PA      | $147065.52    | 0.04%             | 2029-03-26      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                          | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBY8<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    460000 | PA      | $446220.98    | 0.11%             | 2029-03-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp                                    | Microsoft Corp                                                                   | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      7015 | NS      | $3018484.35   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid-America Apartment Communities Inc             | Mid-America Apartment Communities Inc                                            | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               |  | US        |      4196 | NS      | $563522.80    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| MOLINA HEALTHCARE INC                             | Molina Healthcare Inc                                                            | CUSIP: 60855RAJ9<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147334.29    | 0.04%             | 2028-06-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Monster Beverage Corp                             | Monster Beverage Corp                                                            | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |     10253 | NS      | $828032.28    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| NCL CORPORATION LTD                               | NCL Corp Ltd                                                                     | CUSIP: 62886HBY6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    180000 | PA      | $180492.69    | 0.05%             | 2031-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                             | Nabors Industries Inc                                                            | CUSIP: 62957HAP0<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |    135000 | PA      | $142564.05    | 0.04%             | 2030-01-31      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                      | Navient Corp                                                                     | CUSIP: 63938CAK4<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    115000 | PA      | $114264.16    | 0.03%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                      | Navient Corp                                                                     | CUSIP: 63938CAL2<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102926.97    | 0.03%             | 2028-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                                       | Netflix Inc                                                                      | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     10360 | NS      | $864956.40    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| New Gold Inc                                      | New Gold Inc                                                                     | CUSIP: 644535106<br>LEI: 5493005G0GNCHP0H6L96 | Long             | EC               | CORP              | CA        |     23000 | NS      | $231072.60    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWELL BRANDS INC                                 | Newell Brands Inc                                                                | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    205000 | PA      | $214931.23    | 0.06%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Newmont Corp                                      | Newmont Corp                                                                     | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     11000 | NS      | $1235850.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| XPLR INFRAST OPERATING                            | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 65342QAB8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    285000 | PA      | $282408.64    | 0.07%             | 2027-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                                 | Nexstar Media Inc                                                                | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    170000 | PA      | $170043.52    | 0.04%             | 2027-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                           | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 654740BS7<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    185000 | PA      | $184206.48    | 0.05%             | 2026-03-09      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                   | Nissan Motor Co Ltd                                                              | CUSIP: 654744AC5<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |     75000 | PA      | $74183.32     | 0.02%             | 2027-09-17      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                           | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAE5<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    165000 | PA      | $166879.45    | 0.04%             | 2026-09-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                           | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAF2<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51843.95     | 0.01%             | 2028-09-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                           | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAK1<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135462.92    | 0.03%             | 2028-09-29      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC                                     | Nordstrom Inc                                                                    | CUSIP: 655664AT7<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23867.38     | 0.01%             | 2030-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                   | Gen Digital Inc                                                                  | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    295000 | PA      | $297464.95    | 0.08%             | 2027-09-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Nutanix Inc                                       | Nutanix Inc                                                                      | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |      7645 | NS      | $300677.85    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                       | NVIDIA Corp                                                                      | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     12985 | NS      | $2481823.05   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc                           | O'Reilly Automotive Inc                                                          | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |      7564 | NS      | $744373.24    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Star Resources Ltd                       | Northern Star Resources Ltd                                                      | CUSIP: 000000000<br>LEI: 254900XFXCRYYZAX6M78 | Long             | EC               | CORP              | AU        |     13000 | NS      | $261980.88    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| OceanaGold Corp                                   | OceanaGold Corp                                                                  | CUSIP: 675222400<br>LEI: 549300CBMSE8I9N3E232 | Long             | EC               | CORP              | CA        |     12966 | NS      | $420122.59    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| OCEANEERING INTL INC                              | Oceaneering International Inc                                                    | CUSIP: 675232AD4<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |    365000 | PA      | $370870.66    | 0.10%             | 2028-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Okta Inc                                          | Okta Inc                                                                         | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |      6561 | NS      | $554273.28    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp                             | ON Semiconductor Corp                                                            | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |     10513 | NS      | $629623.57    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| OPEN TEXT CORP                                    | Open Text Corp                                                                   | CUSIP: 683715AC0<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |     80000 | PA      | $77440.90     | 0.02%             | 2028-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                    | Open Text Corp                                                                   | CUSIP: 683715AF3<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    275000 | PA      | $283944.78    | 0.07%             | 2027-12-01      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                       | Oracle Corp                                                                      | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      2539 | NS      | $417868.62    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| OR Royalties Inc                                  | OR Royalties Inc                                                                 | CUSIP: 68390D106<br>LEI: 549300TJZTXZMPQ6K004 | Long             | EC               | CORP              | CA        |      3500 | NS      | $138005.36    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                          | Organon & Co / Organon Foreign Debt Co-Issuer BV                                 | CUSIP: 68622TAA9<br>LEI: 549300SH15FO4Y2G3V63 | Long             | DBT              | CORP              | US        |    220000 | PA      | $215780.29    | 0.06%             | 2028-04-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Orla Mining Ltd                                   | Orla Mining Ltd                                                                  | CUSIP: 68634K106<br>LEI: 529900DU63EUQ1UZKL30 | Long             | EC               | CORP              | CA        |     12500 | NS      | $188558.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                          | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    215000 | PA      | $214955.60    | 0.06%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                                    | Owens-Brockway Glass Container Inc                                               | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |    145000 | PA      | $145417.31    | 0.04%             | 2027-05-13      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                         | PG&E Corp                                                                        | CUSIP: 69331CAH1<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    175000 | PA      | $174628.74    | 0.04%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRA GROUP INC                                     | PRA Group Inc                                                                    | CUSIP: 69354NAE6<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252572.75    | 0.06%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Pan American Silver Corp                          | Pan American Silver Corp                                                         | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |      6200 | NS      | $338520.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp                          | Pan American Silver Corp                                                         | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |      1765 | NS      | $96166.67     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PARK INTERMED HOLDINGS                            | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAB9<br>LEI: N/A                  | Long             | DBT              |  | US        |    255000 | PA      | $255002.55    | 0.07%             | 2028-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PATTERN ENERGY OP LP/PAT                          | Pattern Energy Operations LP / Pattern Energy Operations Inc                     | CUSIP: 70339PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    305000 | PA      | $302063.80    | 0.08%             | 2028-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Petco Health and Wellness Company Inc             | Petco Health and Wellness Company Inc 2021 Term Loan B                           | CUSIP: 71601HAB2<br>LEI: 2549007TYGV6RVSE9M61 | Long             | LON              | CORP              | US        |     56417 | PA      | $56269.68     | 0.01%             | 2028-03-03      | Floating      | 7.18%                 | No            |                  2 | On Loan: No      |
| Pinterest Inc                                     | Pinterest Inc                                                                    | CUSIP: 72352L106<br>LEI: 529900Y043CEBGO4HB65 | Long             | EC               | CORP              | US        |     15800 | NS      | $349654.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                          | Prime Security Services Borrower LLC / Prime Finance Inc                         | CUSIP: 74166MAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $25047.33     | 0.01%             | 2026-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Prologis Inc                                      | Prologis Inc                                                                     | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               |  | US        |     12746 | NS      | $1664117.76   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| PulteGroup Inc                                    | PulteGroup Inc                                                                   | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6444 | NS      | $806079.96    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| RAKUTEN GROUP INC                                 | Rakuten Group Inc                                                                | CUSIP: 75102WAG3<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    295000 | PA      | $314250.81    | 0.08%             | 2027-02-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| Republic Services Inc                             | Republic Services Inc                                                            | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |      3868 | NS      | $831968.12    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                     | Rexford Industrial Realty Inc                                                    | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               |  | US        |      8369 | NS      | $339195.57    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| RB GLOBAL HOLDINGS INC                            | Ritchie Bros Holdings Inc                                                        | CUSIP: 76774LAC1<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |    110000 | PA      | $114662.57    | 0.03%             | 2031-03-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Robinhood Markets Inc                             | Robinhood Markets Inc                                                            | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |      3475 | NS      | $345693.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCKET COS INC                                    | Rocket Cos Inc                                                                   | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $112618.99    | 0.03%             | 2030-08-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                    | Rocket Cos Inc                                                                   | CUSIP: 77311WAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $92575.80     | 0.02%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROCKET SOFTWARE INC                               | Rocket Software Inc                                                              | CUSIP: 77314EAB4<br>LEI: 549300PVG26ISP5X1556 | Long             | DBT              | CORP              | US        |    140000 | PA      | $139650.52    | 0.04%             | 2028-11-28      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                           | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BK7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    455000 | PA      | $458485.30    | 0.12%             | 2027-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Royal Gold Inc                                    | Royal Gold Inc                                                                   | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |      1100 | NS      | $289641.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp                           | SBA Communications Corp                                                          | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               |  | US        |      3744 | NS      | $689307.84    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SCIH SALT HOLDINGS INC                            | SCIH Salt Holdings Inc                                                           | CUSIP: 78433BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    145000 | PA      | $144647.90    | 0.04%             | 2028-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Seagate Data Storage Technology Pte Ltd           | SEAGATE DATA STOR                                                                | CUSIP: 81180LAM7<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    155000 | PA      | $163722.64    | 0.04%             | 2029-12-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| SEAWORLD PARKS & ENTERTA                          | SeaWorld Parks & Entertainment Inc                                               | CUSIP: 81282UAG7<br>LEI: 549300UZV72O3371JJ53 | Long             | DBT              | CORP              | US        |     90000 | PA      | $87985.59     | 0.02%             | 2029-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Simon Property Group Inc                          | Simon Property Group Inc                                                         | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               |  | US        |      4565 | NS      | $873330.15    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SIRIUS XM RADIO LLC                               | Sirius XM Radio LLC                                                              | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    577000 | PA      | $575997.06    | 0.15%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENTERTAINME                             | Six Flags Entertainment Corp                                                     | CUSIP: 83001AAC6<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199900.00    | 0.05%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Skeena Resources Ltd                              | Skeena Resources Ltd                                                             | CUSIP: 83056P715<br>LEI: 549300DCWSQFVVZ21289 | Long             | EC               | CORP              | CA        |      7000 | NS      | $199720.93    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowline Gold Corp                                | Snowline Gold Corp                                                               | CUSIP: 83342V104<br>LEI: 529900VVFSE66NAIST38 | Long             | EC               | CORP              | CA        |     11000 | NS      | $137656.52    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp                                   | Sony Group Corp                                                                  | CUSIP: 835699307<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |     17326 | NS      | $382904.60    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEMAIN FINANCE CORP                              | OneMain Finance Corp                                                             | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    235000 | PA      | $234380.89    | 0.06%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| StandardAero Inc                                  | StandardAero Inc                                                                 | CUSIP: 85423L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20757 | NS      | $641183.73    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| STAR PARENT INC                                   | Star Parent Inc                                                                  | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |    195000 | PA      | $205817.04    | 0.05%             | 2030-10-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                           | Starwood Property Trust Inc                                                      | CUSIP: 85571BAU9<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |    290000 | PA      | $288086.10    | 0.07%             | 2026-07-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Sun Communities Inc                               | Sun Communities Inc                                                              | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               |  | US        |      3950 | NS      | $503348.50    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Symbotic Inc                                      | Symbotic Inc                                                                     | CUSIP: 87151X101<br>LEI: 529900UN9QT55OG9I235 | Long             | EC               | CORP              | US        |      3520 | NS      | $191382.40    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corp                                    | TD SYNNEX Corp                                                                   | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |      4700 | NS      | $745749.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| TKO Group Holdings Inc                            | TKO Group Holdings Inc                                                           | CUSIP: 87256C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2300 | NS      | $465934.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TRI POINTE HOMES INC                              | Tri Pointe Homes Inc                                                             | CUSIP: 87265HAG4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $131404.13    | 0.03%             | 2028-06-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                           | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $219924.03    | 0.06%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                              | Taylor Morrison Communities Inc                                                  | CUSIP: 87724RAB8<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    290000 | PA      | $295539.00    | 0.08%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp                             | Tenet Healthcare Corp                                                            | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |      3100 | NS      | $586768.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| TENET HEALTHCARE CORP                             | Tenet Healthcare Corp                                                            | CUSIP: 88033GDH0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     70000 | PA      | $69804.60     | 0.02%             | 2028-06-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                             | Tenet Healthcare Corp                                                            | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    101000 | PA      | $101103.53    | 0.03%             | 2028-10-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Teradyne Inc                                      | Teradyne Inc                                                                     | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |      7064 | NS      | $1702777.20   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| TERRAFORM POWER OPERATIN                          | TerraForm Power Operating LLC                                                    | CUSIP: 88104LAE3<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |    285000 | PA      | $285320.63    | 0.07%             | 2028-01-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Terreno Realty Corp                               | Terreno Realty Corp                                                              | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               |  | US        |      9703 | NS      | $597122.62    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                            | Cloud Software Group Inc                                                         | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    380000 | PA      | $377631.67    | 0.10%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Torex Gold Resources Inc                          | Torex Gold Resources Inc                                                         | CUSIP: 891054603<br>LEI: 549300QL07027186GQ85 | Long             | EC               | CORP              | CA        |      8800 | NS      | $423568.46    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Toro Co/The                                       | Toro Co/The                                                                      | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |      8981 | NS      | $821761.50    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANSDIGM INC                                     | TransDigm Inc                                                                    | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    350000 | PA      | $359913.75    | 0.09%             | 2029-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                             | Trivium Packaging Finance BV                                                     | CUSIP: 89686QAD8<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |     85000 | PA      | $90701.29     | 0.02%             | 2030-07-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Twilio Inc                                        | Twilio Inc                                                                       | CUSIP: 90138F102<br>LEI: 5493004W8TRGD63APX93 | Long             | EC               | CORP              | US        |      6205 | NS      | $747454.30    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                             | Uber Technologies Inc                                                            | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |      6500 | NS      | $520325.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulta Beauty Inc                                   | Ulta Beauty Inc                                                                  | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      1500 | NS      | $971040.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| United Airlines Holdings Inc                      | United Airlines Holdings Inc                                                     | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |      6000 | NS      | $613920.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                            | CUSIP: 912810FH6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    118298 | PA      | $128448.88    | 0.03%             | 2029-04-15      | Fixed         | 3.88%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                            | CUSIP: 912810FQ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1351270 | PA      | $1503502.08   | 0.39%             | 2032-04-15      | Fixed         | 3.38%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                            | CUSIP: 912810PZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    845404 | PA      | $880572.02    | 0.23%             | 2029-01-15      | Fixed         | 2.50%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                            | CUSIP: 912810QF8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1439616 | PA      | $1428170.29   | 0.37%             | 2040-02-15      | Fixed         | 2.13%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                            | CUSIP: 912810QP6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1990694 | PA      | $1954393.46   | 0.50%             | 2041-02-15      | Fixed         | 2.13%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                            | CUSIP: 912810QV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    143442 | PA      | $111946.18    | 0.03%             | 2042-02-15      | Fixed         | 0.75%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                            | CUSIP: 912810RA8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    479322 | PA      | $357927.61    | 0.09%             | 2043-02-15      | Fixed         | 0.63%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                            | CUSIP: 912810RF7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1501988 | PA      | $1259252.22   | 0.32%             | 2044-02-15      | Fixed         | 1.38%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                            | CUSIP: 912810RR1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1764617 | PA      | $1329899.59   | 0.34%             | 2046-02-15      | Fixed         | 1.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                            | CUSIP: 912810SB5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1504965 | PA      | $1098493.03   | 0.28%             | 2048-02-15      | Fixed         | 1.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                            | CUSIP: 912810SG4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1564993 | PA      | $1124885.53   | 0.29%             | 2049-02-15      | Fixed         | 1.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                            | CUSIP: 912810SM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    201714 | PA      | $115970.58    | 0.03%             | 2050-02-15      | Fixed         | 0.25%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                            | CUSIP: 912810SV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1879859 | PA      | $1013905.21   | 0.26%             | 2051-02-15      | Fixed         | 0.13%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                            | CUSIP: 912810TP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1303016 | PA      | $1013533.30   | 0.26%             | 2053-02-15      | Fixed         | 1.50%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                            | CUSIP: 912810TY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1003295 | PA      | $899253.98    | 0.23%             | 2054-02-15      | Fixed         | 2.13%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 9128282L3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7002678 | PA      | $6980490.71   | 1.80%             | 2027-07-15      | Fixed         | 0.38%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 9128283R9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4697586 | PA      | $4658735.78   | 1.20%             | 2028-01-15      | Fixed         | 0.50%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 9128285W6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3074318 | PA      | $3057943.55   | 0.79%             | 2029-01-15      | Fixed         | 0.88%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 9128287D6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1172086 | PA      | $1142538.57   | 0.29%             | 2029-07-15      | Fixed         | 0.25%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 912828V49<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    114052 | PA      | $113553.99    | 0.03%             | 2027-01-15      | Fixed         | 0.38%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 912828Z37<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5291076 | PA      | $5075860.27   | 1.31%             | 2030-01-15      | Fixed         | 0.13%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 912828ZZ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4778563 | PA      | $4564441.80   | 1.17%             | 2030-07-15      | Fixed         | 0.13%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 91282CBF7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2639633 | PA      | $2490457.29   | 0.64%             | 2031-01-15      | Fixed         | 0.13%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 91282CCM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1777700 | PA      | $1667218.76   | 0.43%             | 2031-07-15      | Fixed         | 0.13%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 91282CDX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3051769 | PA      | $2821231.04   | 0.73%             | 2032-01-15      | Fixed         | 0.13%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 91282CEJ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5567606 | PA      | $5510640.04   | 1.42%             | 2027-04-15      | Fixed         | 0.13%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 91282CFR7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4502468 | PA      | $4572876.38   | 1.18%             | 2027-10-15      | Fixed         | 1.63%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 91282CHP9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4839843 | PA      | $4759813.19   | 1.22%             | 2033-07-15      | Fixed         | 1.38%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 91282CJY8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1887430 | PA      | $1891371.80   | 0.49%             | 2034-01-15      | Fixed         | 1.75%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 91282CLE9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3646314 | PA      | $3688308.17   | 0.95%             | 2034-07-15      | Fixed         | 1.88%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 91282CML2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5956890 | PA      | $6102286.31   | 1.57%             | 2035-01-15      | Fixed         | 2.13%                 | No            |                  1 | On Loan: No      |
| United Therapeutics Corp                          | United Therapeutics Corp                                                         | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      1550 | NS      | $727709.50    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                          | United Wholesale Mortgage LLC                                                    | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59280.26     | 0.02%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                          | United Wholesale Mortgage LLC                                                    | CUSIP: 913229AC4<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    445000 | PA      | $445358.67    | 0.11%             | 2027-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                          | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $25885.48     | 0.01%             | 2029-03-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| VOC ESCROW LTD                                    | VOC Escrow Ltd                                                                   | CUSIP: 91832VAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    120000 | PA      | $119922.41    | 0.03%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Valero Energy Corp                                | Valero Energy Corp                                                               | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      5277 | NS      | $957406.11    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTURE GLOBAL LNG INC                            | Venture Global LNG Inc                                                           | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    405000 | PA      | $414597.35    | 0.11%             | 2028-06-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| VERITIV OPERATING CO                              | Veritiv Operating Co                                                             | CUSIP: 92339LAA0<br>LEI: 5493004G8OK5L1UTIY12 | Long             | DBT              | CORP              | US        |    120000 | PA      | $128489.64    | 0.03%             | 2030-11-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                          | TK Elevator US Newco Inc                                                         | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    310000 | PA      | $310090.21    | 0.08%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                        | Viasat Inc                                                                       | CUSIP: 92552VAL4<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    130000 | PA      | $130069.03    | 0.03%             | 2027-04-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                  | Paramount Global                                                                 | CUSIP: 92553PBC5<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    130000 | PA      | $118137.50    | 0.03%             | 2057-02-28      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VICI Properties Inc                               | VICI Properties Inc                                                              | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               |  | US        |     20631 | NS      | $579318.48    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| VIRGIN MEDIA VEND FIN IV                          | Virgin Media Vendor Financing Notes IV DAC                                       | CUSIP: 92770QAA5<br>LEI: 635400ZZNJSEA4CAJR23 | Long             | DBT              | CORP              | IE        |    250000 | PA      | $250000.00    | 0.06%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virtu Financial Inc                               | Virtu Financial Inc                                                              | CUSIP: 928254101<br>LEI: 5493001OPW2K42CH3884 | Long             | EC               | CORP              | US        |     13500 | NS      | $560385.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                           | VistaJet Malta Finance PLC / Vista Management Holding Inc                        | CUSIP: 92840JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     45000 | PA      | $45077.00     | 0.01%             | 2027-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                       | Vistra Operations Co LLC                                                         | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150125.62    | 0.04%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vista Management Holding Inc                      | Vista Management Holding Inc 2025 Term Loan B                                    | CUSIP: 92842EAB4<br>LEI: 5299005VABKD28UWHI65 | Long             | LON              | CORP              | US        |     69300 | PA      | $69386.63     | 0.02%             | 2031-04-01      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| Vulcan Materials Co                               | Vulcan Materials Co                                                              | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |      4044 | NS      | $1215383.76   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| WAYFAIR LLC                                       | Wayfair LLC                                                                      | CUSIP: 94419NAA5<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |    130000 | PA      | $135926.44    | 0.03%             | 2029-10-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Welltower Inc                                     | Welltower Inc                                                                    | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               |  | US        |      9667 | NS      | $1820876.12   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO DISTRIBUTION INC                            | WESCO Distribution Inc                                                           | CUSIP: 95081QAQ7<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    240000 | PA      | $247445.28    | 0.06%             | 2029-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| WESCO International Inc                           | WESCO International Inc                                                          | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |      3600 | NS      | $1041948.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                                   | Weyerhaeuser Co                                                                  | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               |  | US        |     34007 | NS      | $876700.46    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp                      | Wheaton Precious Metals Corp                                                     | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |      4100 | NS      | $540152.76    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| WHIRLPOOL CORP                                    | Whirlpool Corp                                                                   | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    120000 | PA      | $120312.84    | 0.03%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ALLSPRING GOVERNMENT MONEY MAR                    | ALLSPRING GOVERNMENT MONEY MAR                                                   | CUSIP: 000000000<br>LEI: 549300GFSYYLVYEWA041 | Long             | STIV             | RF                | US        | 128005592 | NS      | $128005591.77 | 32.94%            |  |  |  | No            |                  1 | On Loan: No      |
| XHR LP                                            | XHR LP                                                                           | CUSIP: 98372MAE5<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              |  | US        |     80000 | PA      | $82620.08     | 0.02%             | 2030-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                     | ZF North America Capital Inc                                                     | CUSIP: 98877DAD7<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20649.90     | 0.01%             | 2028-04-14      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Evolution Mining Ltd                              | Evolution Mining Ltd                                                             | CUSIP: 000000000<br>LEI: 254900BCFW5QO5LW8F27 | Long             | EC               | CORP              | AU        |      8000 | NS      | $81946.49     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Endeavour Mining PLC                              | Endeavour Mining PLC                                                             | CUSIP: 000000000<br>LEI: 529900NI5MXQ91GHXR07 | Long             | EC               | CORP              | GB        |     11380 | NS      | $621297.10    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                      | NATURAL GAS FUTR MAR26                                                           | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |       129 | NC      | $1680837.79   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                       | BP CURRENCY FUT MAR26                                                            | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              |  | US        |      -213 | NC      | $-380429.53   | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                      | WTI CRUDE FUTURE MAR26                                                           | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |       175 | NC      | $1022948.14   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures U.S., Inc.                            | SUGAR 11 (WORLD) MAR26                                                           | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |        83 | NC      | $-128718.93   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | SOYBEAN FUTURE MAR26                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        31 | NC      | $-30567.05    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures U.S., Inc.                            | COFFEE 'C' FUTURE MAR26                                                          | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |         8 | NC      | $-97376.31    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | CORN FUTURE MAR26                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        64 | NC      | $1662.90      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | WHEAT FUTURE(CBT) MAR26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        45 | NC      | $49895.39     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                             | LME LEAD FUTURE FEB26                                                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |         6 | NC      | $-2926.74     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                             | LME LEAD FUTURE FEB26                                                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        -6 | NC      | $2803.26      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                             | LME ZINC FUTURE FEB26                                                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |         2 | NC      | $5013.42      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                             | LME ZINC FUTURE FEB26                                                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        -2 | NC      | $-5054.58     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe                                | BRENT CRUDE FUTR APR26                                                           | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DCO              |  | GB        |       161 | NC      | $713604.40    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                      | NY HARB ULSD FUT MAR26                                                           | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        17 | NC      | $130060.90    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures U.S., Inc.                            | COTTON NO.2 FUTR MAR26                                                           | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |       -18 | NC      | $21025.07     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                       | S+P500 EMINI FUT MAR26                                                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |         1 | NC      | $3850.44      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Osaka Exchange                                    | TOPIX INDX FUTR MAR26                                                            | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               |  | JP        |         3 | NC      | $14494.64     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                 | EURO STOXX 50 MAR26                                                              | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |       172 | NC      | $346274.22    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                             | LME PRI ALUM FUTR MAR26                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        30 | NC      | $-20484.45    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                             | LME LEAD FUTURE MAR26                                                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |         9 | NC      | $-16869.11    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                             | LME ZINC FUTURE MAR26                                                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        13 | NC      | $44665.73     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                             | LME COPPER FUTURE MAR26                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        10 | NC      | $59746.60     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                             | LME COPPER FUTURE MAR26                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        -7 | NC      | $-286608.28   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures U.S., Inc.                            | MSCI EMGMKT MAR26                                                                | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               |  | US        |       300 | NC      | $1983287.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                       | AUDUSD CRNCY FUT MAR26                                                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              |  | US        |       160 | NC      | $505341.12    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                 | DAX INDEX FUTURE MAR26                                                           | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |         2 | NC      | $13388.48     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                       | EURO FX CURR FUT MAR26                                                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              |  | US        |       -98 | NC      | $-211899.78   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                             | LME NICKEL FUTURE FEB26                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        10 | NC      | $-39423.34    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                             | LME NICKEL FUTURE FEB26                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        -2 | NC      | $7918.18      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | SOYBEAN MEAL FUTR MAR26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       -19 | NC      | $24575.04     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | SOYBEAN OIL FUTR MAR26                                                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        95 | NC      | $165809.44    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | KC HRW WHEAT FUT MAR26                                                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       -83 | NC      | $-80177.15    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                       | LIVE CATTLE FUTR FEB26                                                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |        48 | NC      | $-18873.03    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                       | LEAN HOGS FUTURE FEB26                                                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |        63 | NC      | $30476.54     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures U.S., Inc.                            | COCOA FUTURE MAR26                                                               | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |         1 | NC      | $-2651.01     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Commodities Exchange Center                       | SILVER FUTURE MAR26                                                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |         8 | NC      | $-129365.51   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe                                | LOW SU GASOIL G FEB26                                                            | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DCO              |  | GB        |        20 | NC      | $202363.56    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe - Financial Products Division  | FTSE 100 IDX FUT MAR26                                                           | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DE               |  | GB        |        19 | NC      | $76990.57     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOE Futures Exchange LLC                         | CBOE VIX FUTURE FEB26                                                            | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |       645 | NC      | $-395393.65   | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                      | GASOLINE RBOB FUT MAR26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        14 | NC      | $45359.47     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Commodities Exchange Center                       | GOLD 100 OZ FUTR APR26                                                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |       -27 | NC      | $1296722.32   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                 | EURO-BUND FUTURE MAR26                                                           | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |       119 | NC      | $15678.61     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                 | EURO-BUND FUTURE MAR26                                                           | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |       -16 | NC      | $4849.69      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                 | EURO-OAT FUTURE MAR26                                                            | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        49 | NC      | $57288.41     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | US 10YR NOTE (CBT)MAR26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       164 | NC      | $-164623.78   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | US ULTRA BOND CBT MAR26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -320 | NC      | $439727.79    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                       | NASDAQ 100 E-MINI MAR26                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |        21 | NC      | $87284.40     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                       | E-MINI RUSS 2000 MAR26                                                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |         4 | NC      | $10290.08     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | US 5YR NOTE (CBT) MAR26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       820 | NC      | $-167165.94   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | US 2YR NOTE (CBT) MAR26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       598 | NC      | $-95065.24    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | US 10YR ULTRA FUT MAR26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -253 | NC      | $110170.38    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe - Financial Products Division  | LONG GILT FUTURE MAR26                                                           | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              |  | GB        |        92 | NC      | $-11914.45    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ASX Clear (Futures)                               | AUST 10Y BOND FUT MAR26                                                          | CUSIP: 000000000<br>LEI: 549300ZD7BBOVZFVHK49 | N/A              | DIR              |  | AU        |       729 | NC      | $-53801.31    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ASX Clear (Futures)                               | AUST 10Y BOND FUT MAR26                                                          | CUSIP: 000000000<br>LEI: 549300ZD7BBOVZFVHK49 | N/A              | DIR              |  | AU        |       -59 | NC      | $12124.47     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| The Montreal Exchange/Bourse De Montreal          | CAN 10YR BOND FUT MAR26                                                          | CUSIP: 000000000<br>LEI: 549300DKBYNOI0B1NP44 | N/A              | DIR              |  | CA        |       204 | NC      | $-134220.81   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| The Montreal Exchange/Bourse De Montreal          | CAN 10YR BOND FUT MAR26                                                          | CUSIP: 000000000<br>LEI: 549300DKBYNOI0B1NP44 | N/A              | DIR              |  | CA        |       -31 | NC      | $-9184.92     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Osaka Exchange                                    | JPN 10Y BOND(OSE) MAR26                                                          | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DIR              |  | JP        |       -17 | NC      | $50903.99     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Nasdaq Stockholm AB                               | OMXS30 IND FUTURE FEB26                                                          | CUSIP: 000000000<br>LEI: 549300KBQIVNEJEZVL96 | N/A              | DE               |  | SE        |       221 | NC      | $19948.07     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| The Montreal Exchange/Bourse De Montreal          | S+P/TSX 60 IX FUT MAR26                                                          | CUSIP: 000000000<br>LEI: 549300DKBYNOI0B1NP44 | N/A              | DE               |  | CA        |         8 | NC      | $-11288.48    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ASX Clear (Futures)                               | SPI 200 FUTURES MAR26                                                            | CUSIP: 000000000<br>LEI: 549300ZD7BBOVZFVHK49 | N/A              | DE               |  | AU        |        15 | NC      | $46568.56     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronext NV                                       | CAC40 10 EURO FUT FEB26                                                          | CUSIP: 000000000<br>LEI: 724500QJ4QSZ3H9QU415 | N/A              | DE               |  | FR        |        21 | NC      | $-57965.55    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Bausch & Lomb Corporation                         | BAUSCH + LOMB CORPORATION 2025 REPRICED TERM LOAN                                | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |      9950 | PA      | $10012.19     | 0.00%             | 2031-01-15      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| Anglogold Ashanti Plc                             | Anglogold Ashanti Plc                                                            | CUSIP: 000000000<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |      6800 | NS      | $631516.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd                            | Arch Capital Group Ltd                                                           | CUSIP: 000000000<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |      8354 | NS      | $802318.16    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Gates Industrial Corp PLC                         | Gates Industrial Corp PLC                                                        | CUSIP: 000000000<br>LEI: 549300S6K4FWUSB9KM27 | Long             | EC               | CORP              | GB        |     36163 | NS      | $832472.26    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcon AG                                          | Alcon AG                                                                         | CUSIP: 000000000<br>LEI: 549300LDT5AP8S0NBM78 | Long             | EC               | CORP              | CH        |     11533 | NS      | $933942.34    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA                             | Spotify Technology SA                                                            | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |       671 | NS      | $335734.85    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Holdings NV                                | AerCap Holdings NV                                                               | CUSIP: 000000000<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               | CORP              | NL        |      7924 | NS      | $1138361.84   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-27

**Name of Applicant:** ALLSPRING MASTER TRUST

**Signature:** Jeremy DePalma

**Name of Signer:** Jeremy DePalma

**Title:** Treasurer