# EDGAR Filing Document

**Accession Number:** 0001081400
**File Stem:** 0001410368-25-030685
**Filing Date:** 2025-11
**Character Count:** 137761
**Document Hash:** 52b04118e772f832d9ad8efed4e551a0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-030685.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001410368-25-030685

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALLSPRING FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001081400

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09253
- **FILM NUMBER:** 251516118

**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 FUNDS TRUST
- **DATE OF NAME CHANGE:** 19990308

## Series and Classes Contracts Data

### Allspring Minnesota Tax-Free Fund (Series ID: S000007392)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000020279 | Class C             | WMTCX           |
| C000020281 | Class A             | NMTFX           |
| C000020283 | Administrator Class | NWMIX           |
| C000176497 | Institutional Class | WMTIX           |

## Nport-Ex

Portfolio of investments—September 30, 2025 (unaudited)

Portfolio of investments

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest <br>rate<br>| Maturity <br>date<br>| Principal | Value |
| **Municipal obligations: 100.25%** |  |  |  |  |
| **Guam: 3.02%** |  |  |  |  |
| **Airport revenue: 0.48%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Antonio B Won Pat International Airport Authority Series A AMT | 5.25<br> %<br>| &nbsp;&nbsp; 10-1-2038 | $200000 | &nbsp;&nbsp; $212363 |
| &nbsp;&nbsp;&nbsp; Antonio B Won Pat International Airport Authority Series B | 5.00 | &nbsp;&nbsp; 10-1-2028 | 100000 | &nbsp;&nbsp; 105032 |
| &nbsp;&nbsp;&nbsp; Antonio B Won Pat International Airport Authority Series B | 5.00 | &nbsp;&nbsp; 10-1-2029 | 225000 | &nbsp;&nbsp; 239787 |
| &nbsp;&nbsp;&nbsp; Port Authority of Guam Series B AMT | 5.00 | &nbsp;&nbsp; 7-1-2031 | 285000 | &nbsp;&nbsp; 295367 |
|  |  |  |  | &nbsp;&nbsp; **852549** |
| **Miscellaneous revenue: 0.31%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Territory of Guam Series G | 5.00 | &nbsp;&nbsp; 1-1-2035 | 500000 | &nbsp;&nbsp; **548448** |
| **Utilities revenue: 0.42%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Guam Power Authority Series A | 5.00 | &nbsp;&nbsp; 10-1-2042 | 250000 | &nbsp;&nbsp; 258251 |
| &nbsp;&nbsp;&nbsp; Guam Power Authority Series A | 5.00 | &nbsp;&nbsp; 10-1-2043 | 230000 | &nbsp;&nbsp; 236773 |
| &nbsp;&nbsp;&nbsp; Guam Power Authority Series A | 5.00 | &nbsp;&nbsp; 10-1-2044 | 250000 | &nbsp;&nbsp; 255446 |
|  |  |  |  | &nbsp;&nbsp; **750470** |
| **Water & sewer revenue: 1.81%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Guam Government Waterworks Authority | 5.00 | &nbsp;&nbsp; 1-1-2046 | 1500000 | &nbsp;&nbsp; 1501542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guam Government Waterworks Authority Water & Wastewater System <br> Series A<br>| 5.00 | &nbsp;&nbsp; 7-1-2044 | 885000 | &nbsp;&nbsp; 903832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guam Government Waterworks Authority Water & Wastewater System <br> Series A<br>| 5.50 | &nbsp;&nbsp; 7-1-2043 | 750000 | &nbsp;&nbsp; 802964 |
|  |  |  |  | &nbsp;&nbsp; **3208338** |
|  |  |  |  | &nbsp;&nbsp; **5359805** |
| **Illinois: 0.18%** |  |  |  |  |
| **Miscellaneous revenue: 0.18%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; City of Chicago Lakeshore East Special Assessment Area144A | 2.53 | &nbsp;&nbsp; 12-1-2025 | 327000 | &nbsp;&nbsp; **326074** |
| **Minnesota: 96.77%** |  |  |  |  |
| **Airport revenue: 1.81%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Minneapolis-St. Paul Metropolitan Airports Commission Series A | 5.00 | &nbsp;&nbsp; 1-1-2031 | 485000 | &nbsp;&nbsp; 498187 |
| &nbsp;&nbsp;&nbsp; Minneapolis-St. Paul Metropolitan Airports Commission Series A | 5.00 | &nbsp;&nbsp; 1-1-2052 | 1000000 | &nbsp;&nbsp; 1017396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minneapolis-St. Paul Metropolitan Airports Commission Series A (AG <br> Insured)<br>| 4.00 | &nbsp;&nbsp; 1-1-2054 | 500000 | &nbsp;&nbsp; 449488 |
| &nbsp;&nbsp;&nbsp; Minneapolis-St. Paul Metropolitan Airports Commission Series C | 5.00 | &nbsp;&nbsp; 1-1-2046 | 1000000 | &nbsp;&nbsp; 1005340 |
| &nbsp;&nbsp;&nbsp; Minneapolis-St. Paul Metropolitan Airports Commission Series D AMT | 5.00 | &nbsp;&nbsp; 1-1-2041 | 250000 | &nbsp;&nbsp; 251200 |
|  |  |  |  | &nbsp;&nbsp; **3221611** |
| **Education revenue: 18.22%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; City of Cologne Academy Series A | 5.00 | &nbsp;&nbsp; 7-1-2029 | 485000 | &nbsp;&nbsp; 485256 |
| &nbsp;&nbsp;&nbsp; City of Cologne Academy Series A | 5.00 | &nbsp;&nbsp; 7-1-2034 | 500000 | &nbsp;&nbsp; 500062 |
| &nbsp;&nbsp;&nbsp; City of Columbus New Millennium Academy Series A | 5.50 | &nbsp;&nbsp; 7-1-2030 | 1000000 | &nbsp;&nbsp; 1000156 |
| &nbsp;&nbsp;&nbsp; City of Deephaven Eagle Ridge Academy Series A | 4.00 | &nbsp;&nbsp; 7-1-2026 | 100000 | &nbsp;&nbsp; 99983 |
| &nbsp;&nbsp;&nbsp; City of Deephaven Eagle Ridge Academy Series A | 4.00 | &nbsp;&nbsp; 7-1-2027 | 100000 | &nbsp;&nbsp; 100007 |
| &nbsp;&nbsp;&nbsp; City of Deephaven Eagle Ridge Academy Series A | 5.25 | &nbsp;&nbsp; 7-1-2037 | 400000 | &nbsp;&nbsp; 400199 |
| &nbsp;&nbsp;&nbsp; City of Deephaven Eagle Ridge Academy Series A | 5.25 | &nbsp;&nbsp; 7-1-2040 | 500000 | &nbsp;&nbsp; 500100 |
| &nbsp;&nbsp;&nbsp; City of Forest Lake International Language Academy Series A | 5.50 | &nbsp;&nbsp; 8-1-2036 | 500000 | &nbsp;&nbsp; 500299 |

---

See accompanying notes to portfolio of investments

Allspring Minnesota Tax-Free Fund \| 1

------

Portfolio of investments—September 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Education revenue**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; City of Ham Lake DaVinci Academy of Arts & Science Series A | 4.00<br> %<br>| &nbsp;&nbsp; 7-1-2028 | $330000 | &nbsp;&nbsp; $325868 |
| &nbsp;&nbsp;&nbsp; City of Ham Lake DaVinci Academy of Arts & Science Series A | 5.00 | &nbsp;&nbsp; 7-1-2031 | 625000 | &nbsp;&nbsp; 626366 |
| &nbsp;&nbsp;&nbsp; City of Hugo Noble Academy Series A | 5.00 | &nbsp;&nbsp; 7-1-2029 | 490000 | &nbsp;&nbsp; 490287 |
| &nbsp;&nbsp;&nbsp; City of Minneapolis Northeast College Prep Series A | 5.00 | &nbsp;&nbsp; 7-1-2055 | 700000 | &nbsp;&nbsp; 511843 |
| &nbsp;&nbsp;&nbsp; City of Moorhead Concordia College | 5.00 | &nbsp;&nbsp; 12-1-2025 | 540000 | &nbsp;&nbsp; 540000 |
| &nbsp;&nbsp;&nbsp; City of Otsego Kaleidoscope Charter School Series A | 5.00 | &nbsp;&nbsp; 9-1-2034 | 1015000 | &nbsp;&nbsp; 994403 |
| &nbsp;&nbsp;&nbsp; City of Ramsey PACT Charter School Series A | 5.00 | &nbsp;&nbsp; 6-1-2032 | 1000000 | &nbsp;&nbsp; 1000407 |
| &nbsp;&nbsp;&nbsp; City of St. Cloud Athlos Academy Series A144A† | 5.25 | &nbsp;&nbsp; 6-1-2032 | 355000 | &nbsp;&nbsp; 257375 |
| &nbsp;&nbsp;&nbsp; City of St. Cloud STRIDE Academy Series A | 5.00 | &nbsp;&nbsp; 4-1-2036 | 750000 | &nbsp;&nbsp; 688574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing & RDA of The City of St. Paul Minnesota Conservatory for <br> Performing Artists Series A<br>| 4.00 | &nbsp;&nbsp; 3-1-2028 | 95000 | &nbsp;&nbsp; 93434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing & RDA of The City of St. Paul Minnesota Hmong College Prep <br> Academy Series A<br>| 5.00 | &nbsp;&nbsp; 9-1-2026 | 205000 | &nbsp;&nbsp; 206320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing & RDA of The City of St. Paul Minnesota Hmong College Prep <br> Academy Series A<br>| 5.00 | &nbsp;&nbsp; 9-1-2055 | 400000 | &nbsp;&nbsp; 361283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing & RDA of The City of St. Paul Minnesota Hmong College Prep <br> Academy Series A<br>| 5.25 | &nbsp;&nbsp; 9-1-2031 | 1000000 | &nbsp;&nbsp; 1010437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing & RDA of The City of St. Paul Minnesota Hope Community <br> Academy Series A<br>| 5.00 | &nbsp;&nbsp; 12-1-2034 | 1645000 | &nbsp;&nbsp; 1500103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing & RDA of The City of St. Paul Minnesota Twin Cities Academy <br> Series A<br>| 5.00 | &nbsp;&nbsp; 7-1-2035 | 925000 | &nbsp;&nbsp; 924985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing & RDA of The City of St. Paul Minnesota Twin Cities German <br> Immersion School<br>| 5.00 | &nbsp;&nbsp; 7-1-2055 | 750000 | &nbsp;&nbsp; 656374 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA Carleton College | 5.00 | &nbsp;&nbsp; 3-1-2053 | 1500000 | &nbsp;&nbsp; 1559450 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA College of St. Benedict | 4.00 | &nbsp;&nbsp; 3-1-2036 | 410000 | &nbsp;&nbsp; 390843 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA College of St. Scholastica, Inc. | 4.00 | &nbsp;&nbsp; 12-1-2040 | 1000000 | &nbsp;&nbsp; 868751 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA College of St. Scholastica, Inc. Series 7R | 4.25 | &nbsp;&nbsp; 12-1-2027 | 255000 | &nbsp;&nbsp; 255042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minnesota HEFA Concordia University St. Paul Series 6Q (U.S. Bank <br> N.A. LOC)ø<br>| 3.75 | &nbsp;&nbsp; 4-1-2037 | 500000 | &nbsp;&nbsp; 500000 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA Hamline University Series B | 5.00 | &nbsp;&nbsp; 10-1-2035 | 1000000 | &nbsp;&nbsp; 1006559 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA St. Catherine University Series A | 5.00 | &nbsp;&nbsp; 10-1-2025 | 570000 | &nbsp;&nbsp; 570000 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA St. Catherine University Series A | 5.00 | &nbsp;&nbsp; 10-1-2045 | 2000000 | &nbsp;&nbsp; 1923645 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA St. John's University | 4.00 | &nbsp;&nbsp; 10-1-2034 | 200000 | &nbsp;&nbsp; 204400 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA St. John's University | 4.00 | &nbsp;&nbsp; 10-1-2035 | 170000 | &nbsp;&nbsp; 172642 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA St. John's University | 4.00 | &nbsp;&nbsp; 10-1-2039 | 200000 | &nbsp;&nbsp; 196890 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA St. John's University | 4.00 | &nbsp;&nbsp; 10-1-2040 | 355000 | &nbsp;&nbsp; 345957 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA St. Olaf College | 4.00 | &nbsp;&nbsp; 10-1-2046 | 2750000 | &nbsp;&nbsp; 2492300 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA University of St. Thomas/Minneapolis | 4.00 | &nbsp;&nbsp; 10-1-2041 | 515000 | &nbsp;&nbsp; 487824 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA University of St. Thomas/Minneapolis | 5.00 | &nbsp;&nbsp; 10-1-2040 | 750000 | &nbsp;&nbsp; 776597 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA University of St. Thomas/Minneapolis Series 8-L | 5.00 | &nbsp;&nbsp; 4-1-2035 | 750000 | &nbsp;&nbsp; 756730 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA University of St. Thomas/Minneapolis Series A | 5.00 | &nbsp;&nbsp; 10-1-2026 | 295000 | &nbsp;&nbsp; 301428 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA University of St. Thomas/Minneapolis Series A | 5.00 | &nbsp;&nbsp; 10-1-2052 | 1000000 | &nbsp;&nbsp; 1011299 |
| &nbsp;&nbsp;&nbsp; Minnesota HEFA University of St. Thomas/Minneapolis Series B | 5.00 | &nbsp;&nbsp; 10-1-2036 | 775000 | &nbsp;&nbsp; 825321 |
| &nbsp;&nbsp;&nbsp; Minnesota Office of Higher Education AMT | 4.00 | &nbsp;&nbsp; 11-1-2037 | 595000 | &nbsp;&nbsp; 597062 |
| &nbsp;&nbsp;&nbsp; Minnesota Office of Higher Education AMT | 5.00 | &nbsp;&nbsp; 11-1-2026 | 700000 | &nbsp;&nbsp; 711286 |
| &nbsp;&nbsp;&nbsp; Minnesota Office of Higher Education AMT | 5.00 | &nbsp;&nbsp; 11-1-2027 | 500000 | &nbsp;&nbsp; 516775 |
| &nbsp;&nbsp;&nbsp; Minnesota Office of Higher Education AMT | 5.00 | &nbsp;&nbsp; 11-1-2033 | 1000000 | &nbsp;&nbsp; 1058500 |

---

See accompanying notes to portfolio of investments

2 \| Allspring Minnesota Tax-Free Fund

------

Portfolio of investments—September 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Education revenue**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; University of Minnesota Series A | 5.00<br> %<br>| &nbsp;&nbsp; 4-1-2034 | $270000 | &nbsp;&nbsp; $288217 |
| &nbsp;&nbsp;&nbsp; University of Minnesota Series A | 5.00 | &nbsp;&nbsp; 9-1-2042 | 770000 | &nbsp;&nbsp; 783929 |
|  |  |  |  | &nbsp;&nbsp; **32375568** |
| **GO revenue: 26.08%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Alexandria Lake Area Sanitation District (AG Insured) | 4.13 | &nbsp;&nbsp; 2-1-2044 | 325000 | &nbsp;&nbsp; 308453 |
| &nbsp;&nbsp;&nbsp; Becker Independent School District No. 726 Series B | 4.00 | &nbsp;&nbsp; 2-1-2026 | 100000 | &nbsp;&nbsp; 100418 |
| &nbsp;&nbsp;&nbsp; Brainerd Independent School District No. 181 Series A | 4.00 | &nbsp;&nbsp; 2-1-2039 | 2000000 | &nbsp;&nbsp; 2008231 |
| &nbsp;&nbsp;&nbsp; Brainerd Independent School District No. 181 Series A | 4.00 | &nbsp;&nbsp; 2-1-2042 | 2060000 | &nbsp;&nbsp; 2060695 |
| &nbsp;&nbsp;&nbsp; Brainerd Independent School District No. 181 Series A | 4.00 | &nbsp;&nbsp; 2-1-2043 | 225000 | &nbsp;&nbsp; 221936 |
| &nbsp;&nbsp;&nbsp; Canby Independent School District No. 891 Series A | 4.00 | &nbsp;&nbsp; 2-1-2043 | 1320000 | &nbsp;&nbsp; 1313914 |
| &nbsp;&nbsp;&nbsp; Chisholm Independent School District No. 695 Series A | 6.00 | &nbsp;&nbsp; 2-1-2029 | 500000 | &nbsp;&nbsp; 558138 |
| &nbsp;&nbsp;&nbsp; Chisholm Independent School District No. 695 Series A | 6.00 | &nbsp;&nbsp; 2-1-2030 | 750000 | &nbsp;&nbsp; 861302 |
| &nbsp;&nbsp;&nbsp; City of Chaska Series C | 5.00 | &nbsp;&nbsp; 2-1-2030 | 230000 | &nbsp;&nbsp; 253221 |
| &nbsp;&nbsp;&nbsp; City of Elk River Series A | 3.00 | &nbsp;&nbsp; 12-1-2044 | 2000000 | &nbsp;&nbsp; 1666748 |
| &nbsp;&nbsp;&nbsp; City of Virginia Series A | 5.00 | &nbsp;&nbsp; 2-1-2032 | 405000 | &nbsp;&nbsp; 423137 |
| &nbsp;&nbsp;&nbsp; City of Waite Park Series A | 5.00 | &nbsp;&nbsp; 12-15-2050 | 1675000 | &nbsp;&nbsp; 1744380 |
| &nbsp;&nbsp;&nbsp; County of Hennepin Series A | 5.00 | &nbsp;&nbsp; 12-1-2033 | 410000 | &nbsp;&nbsp; 444714 |
| &nbsp;&nbsp;&nbsp; County of Hennepin Series A | 5.00 | &nbsp;&nbsp; 12-1-2037 | 910000 | &nbsp;&nbsp; 941894 |
| &nbsp;&nbsp;&nbsp; County of Hennepin Series A | 5.00 | &nbsp;&nbsp; 12-1-2041 | 2610000 | &nbsp;&nbsp; 2778020 |
| &nbsp;&nbsp;&nbsp; County of Hennepin Series A | 5.00 | &nbsp;&nbsp; 12-1-2043 | 1500000 | &nbsp;&nbsp; 1602360 |
| &nbsp;&nbsp;&nbsp; County of Hennepin Series A | 5.00 | &nbsp;&nbsp; 12-1-2044 | 1500000 | &nbsp;&nbsp; 1598399 |
| &nbsp;&nbsp;&nbsp; County of Hennepin Series B | 5.00 | &nbsp;&nbsp; 12-1-2029 | 450000 | &nbsp;&nbsp; 461897 |
| &nbsp;&nbsp;&nbsp; County of Hennepin Series B (TD Bank N.A. SPA)ø | 2.85 | &nbsp;&nbsp; 12-1-2038 | 500000 | &nbsp;&nbsp; 500000 |
| &nbsp;&nbsp;&nbsp; County of Rice Series A | 4.00 | &nbsp;&nbsp; 2-1-2048 | 1500000 | &nbsp;&nbsp; 1427473 |
| &nbsp;&nbsp;&nbsp; Duluth Independent School District No. 709 Series C CAB¤ | 0.00 | &nbsp;&nbsp; 2-1-2033 | 1075000 | &nbsp;&nbsp; 785320 |
| &nbsp;&nbsp;&nbsp; Gibbon Independent School District No. 2365 Series A | 5.00 | &nbsp;&nbsp; 2-1-2041 | 300000 | &nbsp;&nbsp; 316923 |
| &nbsp;&nbsp;&nbsp; Gibbon Independent School District No. 2365 Series A | 5.00 | &nbsp;&nbsp; 2-1-2048 | 1700000 | &nbsp;&nbsp; 1756084 |
| &nbsp;&nbsp;&nbsp; Goodridge Independent School District No. 561 Series A | 4.00 | &nbsp;&nbsp; 2-1-2042 | 550000 | &nbsp;&nbsp; 536834 |
| &nbsp;&nbsp;&nbsp; Hastings Independent School District No. 200 Series A CAB¤ | 0.00 | &nbsp;&nbsp; 2-1-2032 | 1305000 | &nbsp;&nbsp; 1040900 |
| &nbsp;&nbsp;&nbsp; Hastings Independent School District No. 200 Series A CAB¤ | 0.00 | &nbsp;&nbsp; 2-1-2033 | 1145000 | &nbsp;&nbsp; 875212 |
| &nbsp;&nbsp;&nbsp; Hawley Independent School District No. 150 Series A | 5.00 | &nbsp;&nbsp; 2-1-2040 | 750000 | &nbsp;&nbsp; 783703 |
| &nbsp;&nbsp;&nbsp; Hawley Independent School District No. 150 Series A | 5.00 | &nbsp;&nbsp; 2-1-2041 | 440000 | &nbsp;&nbsp; 456795 |
| &nbsp;&nbsp;&nbsp; Hopkins Independent School District No. 270 Series A | 4.00 | &nbsp;&nbsp; 2-1-2031 | 170000 | &nbsp;&nbsp; 173653 |
| &nbsp;&nbsp;&nbsp; Jordan Independent School District No. 717 Series A | 5.00 | &nbsp;&nbsp; 2-1-2035 | 150000 | &nbsp;&nbsp; 164779 |
| &nbsp;&nbsp;&nbsp; Jordan Independent School District No. 717 Series A | 5.00 | &nbsp;&nbsp; 2-1-2039 | 500000 | &nbsp;&nbsp; 530567 |
| &nbsp;&nbsp;&nbsp; Marshall County Independent School District No. 441 Series A | 5.00 | &nbsp;&nbsp; 2-1-2037 | 250000 | &nbsp;&nbsp; 270854 |
| &nbsp;&nbsp;&nbsp; Marshall County Independent School District No. 441 Series A | 5.00 | &nbsp;&nbsp; 2-1-2038 | 250000 | &nbsp;&nbsp; 267028 |
| &nbsp;&nbsp;&nbsp; Minneapolis Special School District No. 1 Series A | 4.00 | &nbsp;&nbsp; 2-1-2040 | 1150000 | &nbsp;&nbsp; 1160233 |
| &nbsp;&nbsp;&nbsp; Nashwauk Keewatin Independent School District No. 319 Series A | 4.00 | &nbsp;&nbsp; 2-1-2042 | 320000 | &nbsp;&nbsp; 318327 |
| &nbsp;&nbsp;&nbsp; Nashwauk Keewatin Independent School District No. 319 Series A | 4.00 | &nbsp;&nbsp; 2-1-2043 | 785000 | &nbsp;&nbsp; 773675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Red Lake County Central Independent School District No. 2906 <br> Series A<br>| 5.00 | &nbsp;&nbsp; 2-1-2032 | 250000 | &nbsp;&nbsp; 284090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Red Lake County Central Independent School District No. 2906 <br> Series A<br>| 5.00 | &nbsp;&nbsp; 2-1-2033 | 310000 | &nbsp;&nbsp; 352889 |
| &nbsp;&nbsp;&nbsp; Rock Ridge Independent School District No. 2909 Series A | 5.00 | &nbsp;&nbsp; 2-1-2035 | 405000 | &nbsp;&nbsp; 449242 |
| &nbsp;&nbsp;&nbsp; Sartell-St. Stephen Independent School District No. 748 Series A | 5.00 | &nbsp;&nbsp; 2-1-2027 | 200000 | &nbsp;&nbsp; 200374 |

---

See accompanying notes to portfolio of investments

Allspring Minnesota Tax-Free Fund \| 3

------

Portfolio of investments—September 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **GO revenue**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Washington County Independent School District No. 833 <br> Series A<br>| 4.00<br> %<br>| &nbsp;&nbsp; 2-1-2043 | $1680000 | &nbsp;&nbsp; $1618077 |
| &nbsp;&nbsp;&nbsp; State of Minnesota Series A | 5.00 | &nbsp;&nbsp; 8-1-2034 | 2190000 | &nbsp;&nbsp; 2222522 |
| &nbsp;&nbsp;&nbsp; State of Minnesota Series A | 5.00 | &nbsp;&nbsp; 8-1-2035 | 1000000 | &nbsp;&nbsp; 1092976 |
| &nbsp;&nbsp;&nbsp; State of Minnesota Series A | 5.00 | &nbsp;&nbsp; 8-1-2039 | 1750000 | &nbsp;&nbsp; 1870745 |
| &nbsp;&nbsp;&nbsp; State of Minnesota Series A | 5.00 | &nbsp;&nbsp; 8-1-2041 | 1785000 | &nbsp;&nbsp; 1938713 |
| &nbsp;&nbsp;&nbsp; State of Minnesota Series B | 4.00 | &nbsp;&nbsp; 8-1-2031 | 250000 | &nbsp;&nbsp; 259439 |
| &nbsp;&nbsp;&nbsp; State of Minnesota Series B | 4.00 | &nbsp;&nbsp; 8-1-2043 | 1000000 | &nbsp;&nbsp; 1007609 |
| &nbsp;&nbsp;&nbsp; State of Minnesota Series B | 4.00 | &nbsp;&nbsp; 8-1-2044 | 1500000 | &nbsp;&nbsp; 1499575 |
| &nbsp;&nbsp;&nbsp; Stillwater Independent School District No. 834 Series A | 5.00 | &nbsp;&nbsp; 2-1-2040 | 1000000 | &nbsp;&nbsp; 1071832 |
| &nbsp;&nbsp;&nbsp; Worthington Independent School District No. 518 Series A | 4.00 | &nbsp;&nbsp; 2-1-2030 | 440000 | &nbsp;&nbsp; 442243 |
| &nbsp;&nbsp;&nbsp; Worthington Independent School District No. 518 Series A | 4.00 | &nbsp;&nbsp; 2-1-2032 | 530000 | &nbsp;&nbsp; 532463 |
|  |  |  |  | &nbsp;&nbsp; **46329006** |
| **Health revenue: 21.92%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; City of Center City Hazelden Betty Ford Foundation Series 2025B | 5.00 | &nbsp;&nbsp; 11-1-2047 | 1500000 | &nbsp;&nbsp; 1508914 |
| &nbsp;&nbsp;&nbsp; City of Maple Grove Hospital Corp. | 5.00 | &nbsp;&nbsp; 5-1-2030 | 850000 | &nbsp;&nbsp; 865500 |
| &nbsp;&nbsp;&nbsp; City of Maple Grove Hospital Corp. | 5.00 | &nbsp;&nbsp; 5-1-2031 | 500000 | &nbsp;&nbsp; 509216 |
| &nbsp;&nbsp;&nbsp; City of Maple Grove Hospital Corp. | 5.00 | &nbsp;&nbsp; 5-1-2032 | 725000 | &nbsp;&nbsp; 736795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Minneapolis/St. Paul Housing & RDA Allina Health Obligated <br> Group<br>| 5.00 | &nbsp;&nbsp; 11-15-2025 | 225000 | &nbsp;&nbsp; 225541 |
| &nbsp;&nbsp;&nbsp; City of Minneapolis Allina Health Obligated Group | 4.00 | &nbsp;&nbsp; 11-15-2038 | 975000 | &nbsp;&nbsp; 944795 |
| &nbsp;&nbsp;&nbsp; City of Minneapolis Allina Health Obligated Group Series Bøø | 5.00 | &nbsp;&nbsp; 11-15-2053 | 1000000 | &nbsp;&nbsp; 1089202 |
| &nbsp;&nbsp;&nbsp; City of Minneapolis Fairview Health Services Obligated Group Series A | 5.00 | &nbsp;&nbsp; 11-15-2033 | 3000000 | &nbsp;&nbsp; 3039400 |
| &nbsp;&nbsp;&nbsp; City of Minneapolis Fairview Health Services Obligated Group Series A | 5.00 | &nbsp;&nbsp; 11-15-2035 | 390000 | &nbsp;&nbsp; 401169 |
| &nbsp;&nbsp;&nbsp; City of Minneapolis Fairview Health Services Obligated Group Series A | 5.00 | &nbsp;&nbsp; 11-15-2036 | 1100000 | &nbsp;&nbsp; 1126528 |
| &nbsp;&nbsp;&nbsp; City of Minneapolis Fairview Health Services Obligated Group Series A | 5.00 | &nbsp;&nbsp; 11-15-2049 | 1000000 | &nbsp;&nbsp; 1001333 |
| &nbsp;&nbsp;&nbsp; City of Plato Glencoe Regional Health Services | 5.00 | &nbsp;&nbsp; 4-1-2041 | 550000 | &nbsp;&nbsp; 550107 |
| &nbsp;&nbsp;&nbsp; City of Rochester Mayo Clinicø | 2.82 | &nbsp;&nbsp; 11-15-2047 | 3000000 | &nbsp;&nbsp; 3000000 |
| &nbsp;&nbsp;&nbsp; City of Rochester Mayo Clinic## | 5.00 | &nbsp;&nbsp; 11-15-2057 | 4500000 | &nbsp;&nbsp; 4620235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Shakopee Senior Housing Revenue Benedictine Living <br> Community LLC144Aøø<br>| 5.85 | &nbsp;&nbsp; 11-1-2058 | 725000 | &nbsp;&nbsp; 724552 |
| &nbsp;&nbsp;&nbsp; City of Shakopee St. Francis Regional Medical Center Obligated Group | 5.00 | &nbsp;&nbsp; 9-1-2027 | 700000 | &nbsp;&nbsp; 700695 |
| &nbsp;&nbsp;&nbsp; City of Shakopee St. Francis Regional Medical Center Obligated Group | 5.00 | &nbsp;&nbsp; 9-1-2029 | 325000 | &nbsp;&nbsp; 325279 |
| &nbsp;&nbsp;&nbsp; City of St. Cloud CentraCare Health System Obligated Group | 4.00 | &nbsp;&nbsp; 5-1-2050 | 3235000 | &nbsp;&nbsp; 2864677 |
| &nbsp;&nbsp;&nbsp; City of St. Cloud CentraCare Health System Obligated Group | 5.00 | &nbsp;&nbsp; 5-1-2048 | 1500000 | &nbsp;&nbsp; 1516570 |
| &nbsp;&nbsp;&nbsp; City of St. Cloud CentraCare Health System Obligated Group | 5.00 | &nbsp;&nbsp; 5-1-2054 | 550000 | &nbsp;&nbsp; 558609 |
| &nbsp;&nbsp;&nbsp; City of St. Cloud CentraCare Health System Obligated Group Series A | 5.00 | &nbsp;&nbsp; 5-1-2028 | 300000 | &nbsp;&nbsp; 303913 |
| &nbsp;&nbsp;&nbsp; City of Wadena Astera Health Series A | 5.00 | &nbsp;&nbsp; 12-1-2045 | 2900000 | &nbsp;&nbsp; 2967355 |
| &nbsp;&nbsp;&nbsp; Duluth EDA Essentia Health Obligated Group Series A | 5.00 | &nbsp;&nbsp; 2-15-2048 | 650000 | &nbsp;&nbsp; 653930 |
| &nbsp;&nbsp;&nbsp; Duluth EDA Essentia Health Obligated Group Series A | 5.00 | &nbsp;&nbsp; 2-15-2058 | 1450000 | &nbsp;&nbsp; 1454433 |
| &nbsp;&nbsp;&nbsp; Duluth EDA Essentia Health Obligated Group Series A | 5.25 | &nbsp;&nbsp; 2-15-2053 | 2500000 | &nbsp;&nbsp; 2516866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing & RDA of The City of St. Paul Minnesota Fairview Health <br> Services Obligated Group Series A<br>| 5.00 | &nbsp;&nbsp; 11-15-2034 | 565000 | &nbsp;&nbsp; 578960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing & RDA of The City of St. Paul Minnesota Fairview Health <br> Services Obligated Group Series A<br>| 5.00 | &nbsp;&nbsp; 11-15-2047 | 500000 | &nbsp;&nbsp; 500541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Housing & RDA of The City of St. Paul Minnesota HealthPartners <br> Obligated Group<br>| 5.00 | &nbsp;&nbsp; 7-1-2033 | 1500000 | &nbsp;&nbsp; 1675206 |

---

See accompanying notes to portfolio of investments

4 \| Allspring Minnesota Tax-Free Fund

------

Portfolio of investments—September 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Health revenue**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minnesota Agricultural & Economic Development Board <br> HealthPartners Obligated Group<br>| 5.25<br> %<br>| &nbsp;&nbsp; 1-1-2047 | $1500000 | &nbsp;&nbsp; $1552994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tender Option Bond Trust Receipts/Certificates Series XF1876 (Bank <br> of America N.A. LIQ)144Aø<br>| 2.92 | &nbsp;&nbsp; 11-15-2053 | 435000 | &nbsp;&nbsp; 435000 |
|  |  |  |  | &nbsp;&nbsp; **38948315** |
| **Housing revenue: 13.00%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Forest Lake Kilkenny Senior Housing LP (FNMA LOC, FNMA <br> LIQ)ø<br>| 2.97 | &nbsp;&nbsp; 8-15-2038 | 2435000 | &nbsp;&nbsp; 2435000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Marshall Southwest & West Central Service Cooperatives <br> Series A<br>| 5.13 | &nbsp;&nbsp; 2-1-2041 | 675000 | &nbsp;&nbsp; 681044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Marshall Southwest & West Central Service Cooperatives <br> Series A<br>| 5.38 | &nbsp;&nbsp; 2-1-2045 | 720000 | &nbsp;&nbsp; 721993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Marshall Southwest & West Central Service Cooperatives <br> Series A<br>| 6.00 | &nbsp;&nbsp; 2-1-2032 | 440000 | &nbsp;&nbsp; 488817 |
| &nbsp;&nbsp;&nbsp; City of Minneapolis Riverton Community Housing | 5.00 | &nbsp;&nbsp; 8-1-2032 | 760000 | &nbsp;&nbsp; 760557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of New London EDA Southwest & West Central Service <br> Cooperatives Series A<br>| 4.50 | &nbsp;&nbsp; 2-1-2033 | 500000 | &nbsp;&nbsp; 506384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of New London EDA Southwest & West Central Service <br> Cooperatives Series A<br>| 5.00 | &nbsp;&nbsp; 2-1-2038 | 880000 | &nbsp;&nbsp; 884600 |
| &nbsp;&nbsp;&nbsp; City of Oak Park Heights VSSA Boutwells Landing LLC (FHLMC LIQ)ø | 2.86 | &nbsp;&nbsp; 11-1-2035 | 2500000 | &nbsp;&nbsp; 2500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dakota County Community Development Agency Roers Burnsville <br> Affordable Apartments Owner LLC (FNMA Insured)<br>| 4.20 | &nbsp;&nbsp; 5-1-2043 | 1500000 | &nbsp;&nbsp; 1419963 |
| &nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency Series A | 4.00 | &nbsp;&nbsp; 8-1-2031 | 300000 | &nbsp;&nbsp; 312803 |
| &nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency Series A AMT | 5.00 | &nbsp;&nbsp; 8-1-2027 | 1665000 | &nbsp;&nbsp; 1673739 |
| &nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency Series A AMT | 5.00 | &nbsp;&nbsp; 8-1-2032 | 500000 | &nbsp;&nbsp; 500853 |
| &nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency Series B | 5.00 | &nbsp;&nbsp; 8-1-2029 | 320000 | &nbsp;&nbsp; 348825 |
| &nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency Series B | 5.00 | &nbsp;&nbsp; 8-1-2030 | 465000 | &nbsp;&nbsp; 516050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency Series B (GNMA / FNMA / FHLMC <br> Insured)<br>| 4.10 | &nbsp;&nbsp; 7-1-2038 | 995000 | &nbsp;&nbsp; 991657 |
| &nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency Series D | 5.00 | &nbsp;&nbsp; 8-1-2028 | 200000 | &nbsp;&nbsp; 213509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency Series E (GNMA / FNMA / FHLMC <br> Insured)<br>| 1.75 | &nbsp;&nbsp; 1-1-2028 | 630000 | &nbsp;&nbsp; 606261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency Series E (GNMA / FNMA / FHLMC <br> Insured)<br>| 1.75 | &nbsp;&nbsp; 7-1-2028 | 490000 | &nbsp;&nbsp; 467702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency Series F (GNMA / FNMA / FHLMC <br> Insured)<br>| 4.85 | &nbsp;&nbsp; 7-1-2045 | 1000000 | &nbsp;&nbsp; 1012039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency Series K AMT (GNMA / FNMA / <br> FHLMC Insured)%%<br>| 3.05 | &nbsp;&nbsp; 7-1-2027 | 515000 | &nbsp;&nbsp; 511620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency Series L (GNMA / FNMA / FHLMC <br> Insured)%%<br>| 4.95 | &nbsp;&nbsp; 1-1-2050 | 1500000 | &nbsp;&nbsp; 1504927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency Series M (GNMA / FNMA / FHLMC <br> Insured)<br>| 4.85 | &nbsp;&nbsp; 7-1-2037 | 2990000 | &nbsp;&nbsp; 3099467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency Series O (GNMA / FNMA / FHLMC <br> Insured)<br>| 4.65 | &nbsp;&nbsp; 7-1-2041 | 920000 | &nbsp;&nbsp; 927113 |
|  |  |  |  | &nbsp;&nbsp; **23084923** |
| **Miscellaneous revenue: 9.42%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Anoka-Hennepin Independent School District No. 11 Series A COP | 5.00 | &nbsp;&nbsp; 2-1-2034 | 1000000 | &nbsp;&nbsp; 1007146 |

---

See accompanying notes to portfolio of investments

Allspring Minnesota Tax-Free Fund \| 5

------

Portfolio of investments—September 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Miscellaneous revenue**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; City of Center City Hazelden Betty Ford Foundation | 4.00<br> %<br>| &nbsp;&nbsp; 11-1-2030 | $250000 | &nbsp;&nbsp; $255284 |
| &nbsp;&nbsp;&nbsp; City of Center City Hazelden Betty Ford Foundation | 4.00 | &nbsp;&nbsp; 11-1-2031 | 250000 | &nbsp;&nbsp; 254092 |
| &nbsp;&nbsp;&nbsp; City of Center City Hazelden Betty Ford Foundation | 4.00 | &nbsp;&nbsp; 11-1-2034 | 300000 | &nbsp;&nbsp; 301911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of White Bear Lake Young Men's Christian Association of the <br> Greater Twin Cities<br>| 5.00 | &nbsp;&nbsp; 6-1-2032 | 1000000 | &nbsp;&nbsp; 1045236 |
| &nbsp;&nbsp;&nbsp; Duluth Independent School District No. 709 Series B COP | 5.00 | &nbsp;&nbsp; 2-1-2026 | 395000 | &nbsp;&nbsp; 398082 |
| &nbsp;&nbsp;&nbsp; Lake Agassiz Education Cooperative No. 0397-52 Series A COP | 3.00 | &nbsp;&nbsp; 2-1-2028 | 290000 | &nbsp;&nbsp; 288620 |
| &nbsp;&nbsp;&nbsp; Lake Agassiz Education Cooperative No. 0397-52 Series A COP | 3.00 | &nbsp;&nbsp; 2-1-2029 | 300000 | &nbsp;&nbsp; 296342 |
| &nbsp;&nbsp;&nbsp; Lake Agassiz Education Cooperative No. 0397-52 Series A COP | 3.00 | &nbsp;&nbsp; 2-1-2030 | 310000 | &nbsp;&nbsp; 304121 |
| &nbsp;&nbsp;&nbsp; Minnetonka Independent School District No. 276 Series C COP | 5.00 | &nbsp;&nbsp; 2-1-2041 | 1125000 | &nbsp;&nbsp; 1198577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northeastern Metropolitan Intermediate School District No. 916 <br> Series B COP<br>| 5.00 | &nbsp;&nbsp; 2-1-2034 | 1500000 | &nbsp;&nbsp; 1502539 |
| &nbsp;&nbsp;&nbsp; Plymouth Intermediate District No. 287 Series A COP | 4.00 | &nbsp;&nbsp; 5-1-2026 | 500000 | &nbsp;&nbsp; 500441 |
| &nbsp;&nbsp;&nbsp; Plymouth Intermediate District No. 287 Series A COP | 4.00 | &nbsp;&nbsp; 5-1-2027 | 1000000 | &nbsp;&nbsp; 1001141 |
| &nbsp;&nbsp;&nbsp; St. Cloud Independent School District No. 742 COP | 5.00 | &nbsp;&nbsp; 2-1-2032 | 500000 | &nbsp;&nbsp; 500850 |
| &nbsp;&nbsp;&nbsp; St. Cloud Independent School District No. 742 COP | 5.00 | &nbsp;&nbsp; 2-1-2034 | 350000 | &nbsp;&nbsp; 350592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Minnesota Department of Iron Range Resources & <br> Rehabilitation Series A<br>| 5.00 | &nbsp;&nbsp; 10-1-2039 | 2490000 | &nbsp;&nbsp; 2746248 |
| &nbsp;&nbsp;&nbsp; State of Minnesota Office Building Project COP | 5.00 | &nbsp;&nbsp; 11-1-2042 | 3000000 | &nbsp;&nbsp; 3199322 |
| &nbsp;&nbsp;&nbsp; State of Minnesota Office Building Project COP | 5.00 | &nbsp;&nbsp; 11-1-2043 | 1500000 | &nbsp;&nbsp; 1589313 |
|  |  |  |  | &nbsp;&nbsp; **16739857** |
| **Utilities revenue: 5.65%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Central Minnesota Municipal Power Agency (AG Insured) | 4.00 | &nbsp;&nbsp; 1-1-2042 | 350000 | &nbsp;&nbsp; 346209 |
| &nbsp;&nbsp;&nbsp; Central Minnesota Municipal Power Agency (AG Insured) | 5.00 | &nbsp;&nbsp; 1-1-2029 | 315000 | &nbsp;&nbsp; 339210 |
| &nbsp;&nbsp;&nbsp; Central Minnesota Municipal Power Agency (AG Insured) | 5.00 | &nbsp;&nbsp; 1-1-2030 | 210000 | &nbsp;&nbsp; 230742 |
| &nbsp;&nbsp;&nbsp; City of Rochester Electric Utility Revenue Series A | 5.00 | &nbsp;&nbsp; 12-1-2037 | 500000 | &nbsp;&nbsp; 510735 |
| &nbsp;&nbsp;&nbsp; Minnesota Municipal Power Agency | 5.00 | &nbsp;&nbsp; 10-1-2047 | 500000 | &nbsp;&nbsp; 501330 |
| &nbsp;&nbsp;&nbsp; Northern Municipal Power Agency | 5.00 | &nbsp;&nbsp; 1-1-2036 | 100000 | &nbsp;&nbsp; 102102 |
| &nbsp;&nbsp;&nbsp; Northern Municipal Power Agency | 5.00 | &nbsp;&nbsp; 1-1-2041 | 1500000 | &nbsp;&nbsp; 1515913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sauk Centre Public Utilities Commission Electric Revenue Series A (AG <br> Insured)<br>| 4.00 | &nbsp;&nbsp; 12-1-2037 | 250000 | &nbsp;&nbsp; 253284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sauk Centre Public Utilities Commission Electric Revenue Series A (AG <br> Insured)<br>| 5.00 | &nbsp;&nbsp; 12-1-2034 | 100000 | &nbsp;&nbsp; 110754 |
| &nbsp;&nbsp;&nbsp; Southern Minnesota Municipal Power Agency Series A | 5.00 | &nbsp;&nbsp; 1-1-2031 | 520000 | &nbsp;&nbsp; 523025 |
| &nbsp;&nbsp;&nbsp; Southern Minnesota Municipal Power Agency Series A | 5.00 | &nbsp;&nbsp; 1-1-2041 | 480000 | &nbsp;&nbsp; 482029 |
| &nbsp;&nbsp;&nbsp; Southern Minnesota Municipal Power Agency Series A%% | 5.00 | &nbsp;&nbsp; 1-1-2045 | 800000 | &nbsp;&nbsp; 843635 |
| &nbsp;&nbsp;&nbsp; St. Paul Port Authority District Energy Obligated Group Series 1 | 3.00 | &nbsp;&nbsp; 10-1-2027 | 100000 | &nbsp;&nbsp; 99850 |
| &nbsp;&nbsp;&nbsp; St. Paul Port Authority District Energy Obligated Group Series 1 | 3.00 | &nbsp;&nbsp; 10-1-2034 | 225000 | &nbsp;&nbsp; 213773 |
| &nbsp;&nbsp;&nbsp; St. Paul Port Authority District Energy Obligated Group Series 1 | 4.00 | &nbsp;&nbsp; 10-1-2028 | 400000 | &nbsp;&nbsp; 407797 |
| &nbsp;&nbsp;&nbsp; St. Paul Port Authority District Energy Obligated Group Series 1 | 4.00 | &nbsp;&nbsp; 10-1-2041 | 500000 | &nbsp;&nbsp; 466302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Western Minnesota Municipal Power Agency Red Rock Hydroelectric <br> Project Series A<br>| 5.00 | &nbsp;&nbsp; 1-1-2049 | 1500000 | &nbsp;&nbsp; 1523227 |
| &nbsp;&nbsp;&nbsp; Western Minnesota Municipal Power Agency Series A | 5.00 | &nbsp;&nbsp; 1-1-2032 | 555000 | &nbsp;&nbsp; 557990 |
| &nbsp;&nbsp;&nbsp; Western Minnesota Municipal Power Agency Series A | 5.00 | &nbsp;&nbsp; 1-1-2036 | 1000000 | &nbsp;&nbsp; 1003798 |
|  |  |  |  | &nbsp;&nbsp; **10031705** |

---

See accompanying notes to portfolio of investments

6 \| Allspring Minnesota Tax-Free Fund

------

Portfolio of investments—September 30, 2025 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Water & sewer revenue: 0.67%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; City of St. Paul Water Revenue Series A |  | 4.00<br> %<br>| &nbsp;&nbsp; 12-1-2045 | $1215000 | &nbsp;&nbsp; $**1189210** |
|  |  |  |  |  | &nbsp;&nbsp; **171920195** |
| **New York: 0.28%** |  |  |  |  |  |
| **Airport revenue: 0.20%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp. JFK NTO LLC AMT |  | 6.00 | &nbsp;&nbsp; 6-30-2044 | 325000 | &nbsp;&nbsp; **351846** |
| **Health revenue: 0.08%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westchester County Local Development Corp. Kendal on Hudson <br> Obligated Group Series B<br>|  | 5.00 | &nbsp;&nbsp; 1-1-2027 | 145000 | &nbsp;&nbsp; **147226** |
|  |  |  |  |  | &nbsp;&nbsp; **499072** |
| **Total municipal obligations (Cost $181,781,523)** |  |  |  |  | &nbsp;&nbsp; **178105146** |
| **Total investments in securities (Cost $181,781,523)** | 100.25<br> %<br>|  |  |  | &nbsp;&nbsp; 178105146 |
| &nbsp;&nbsp;&nbsp; Other assets and liabilities, net | (0.25)<br>|  |  |  | &nbsp;&nbsp; (438895)<br>|
| **Total net assets** | **100.00%**<br>|  |  |  | &nbsp;&nbsp; **$177666251** |

---

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

---

| | |
|:---|:---|
| 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>|
| † | Non-income-earning security |
| ø | Variable rate demand notes are subject to a demand feature which reduces the effective maturity. The maturity date shown represents the final maturity date of <br> the security. The interest rate is determined and reset by the issuer daily, weekly, or monthly depending upon the terms of the security. The rate shown is the rate in <br> effect at period end.<br>|
| ¤ | The security is issued in zero coupon form with no periodic interest payments. |
| øø | The interest rate is determined and reset by the issuer periodically depending upon the terms of the security. The rate shown is the rate in effect at period end. |
| ## | All or a portion of this security is segregated as collateral for when-issued securities. |
| %% | The security is purchased on a when-issued basis. |

---

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

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| AG | Assured Guaranty Incorporation |
| AMT | Alternative minimum tax |
| CAB | Capital appreciation bond |
| COP | Certificate of participation |
| EDA | Economic Development Authority |
| FHLMC | Federal Home Loan Mortgage Corporation |
| FNMA | Federal National Mortgage Association |
| GNMA | Government National Mortgage Association |
| GO | General obligation |
| HEFA | Health & Educational Facilities Authority |
| LIQ | Liquidity agreement |
| LOC | Letter of credit |
| NTO | New Terminal One |
| RDA | Redevelopment Authority |
| SPA | Standby purchase agreement |

---

See accompanying notes to portfolio of investments

Allspring Minnesota Tax-Free Fund \| 7

------

Notes to portfolio of investments—September 30, 2025 (unaudited)

Notes to portfolio of investments

Securities valuation

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

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

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

When-issued transactions

The Fund may purchase securities on a forward commitment or when-issued basis. The Fund records a when-issued transaction on the trade date and will segregate assets in an amount at least equal in value to the Fund's commitment to purchase when-issued securities. Securities purchased on a when-issued basis are marked-to-market daily and the Fund begins earning interest on the settlement date. Losses may arise due to changes in the market value of the underlying securities or if the counterparty does not perform under the contract.

Fair valuation measurements

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

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

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

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

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

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &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:** |  |  |  |  |
| **Municipal obligations** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $178105146 | &nbsp;&nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $178105146 |
| **Total assets** | &nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$178105146** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$178105146** |

---

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

At September 30, 2025, the Fund did not have any transfers into/out of Level 3.

8 \| Allspring Minnesota Tax-Free Fund

------

## 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 FUNDS TRUST

- **b. Investment Company Act file number:** 811-09253

- **c. CIK number of Registrant:** 0001081400

- **d. LEI of Registrant:** 549300XROIY0CTN7RZ24

- **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 Minnesota Tax-Free Fund

- **b. EDGAR series identifier (if any):** S000007392

- **c. LEI of Series:** 549300PT68203CHV4E10

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-09-30

**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:** $180837878.63

**Total Liabilities:** $3381028.63

**Net Assets:** $177456850.00

**Delayed Delivery Securities:** $2862272.00

**Cash Not Reported:** $427329.74

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -409.74000000 | **1-Year:** -6575.82000000 | **5-Year:** -23342.97000000 | **10-Year:** -49516.79000000 | **30-Year:** -15121.65000000

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

- **3-Month:** -85.30000000 | **1-Year:** -760.77000000 | **5-Year:** -2508.56000000 | **10-Year:** -2420.22000000 | **30-Year:** -742.94000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000020281 | -0.36%               | 0.77%                | 2.18%                |
| Class ID C000020283 | -0.34%               | 0.79%                |  |
| Class ID C000176497 | -0.33%               | 0.90%                | 2.21%                |
| Class ID C000020279 | -0.42%               | 0.70%                | 2.12%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-8259.55                | $-988222.12                                |
| Month 2  | $-10061.09               | $939286.58                                 |
| Month 3  | $-0.01                   | $3375724.10                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Antonio B Won Pat International Airport Authority                      | GUAM INTERNATIONAL ARPT AUTH                                 | CUSIP: 40064RGC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $239786.71    | 0.14%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lake Agassiz Education Cooperative No 0397-52                          | LAKE AGASSIZ EDU COOPERATIVE #0397-52 MN COPS                | CUSIP: 507421AG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $288619.75    | 0.16%             | 2028-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Guam Power Authority                                                   | GUAM PWR AUTH REVENUE                                        | CUSIP: 400653LF6<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | US        |    250000 | PA      | $255445.55    | 0.14%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of White Bear Lake MN                                             | WHITE BEAR LAKE MN REVENUE                                   | CUSIP: 96345PAP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045236.10   | 0.59%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416H7E8<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006559.30   | 0.57%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Housing & Redevelopment Authority of The City of St Paul Minnesota     | SAINT PAUL MN HSG & REDEV AUTH HLTH CARE REVENUE             | CUSIP: 792909FM0<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500540.70    | 0.28%             | 2047-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Minnesota                                                     | MINNESOTA ST                                                 | CUSIP: 60412AE82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007608.50   | 0.57%             | 2043-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Canby Independent School District No 891                               | CANBY MN INDEP SCH DIST #891                                 | CUSIP: 137357FX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1313914.40   | 0.74%             | 2043-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Rochester MN Electric Utility Revenue                          | ROCHESTER MN ELEC UTILITY REVENUE                            | CUSIP: 77158PGD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $510734.70    | 0.29%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Hennepin MN                                                  | HENNEPIN CNTY MN                                             | CUSIP: 425507DV9<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015120.00   | 0.57%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416JCC2<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    750000 | PA      | $776597.10    | 0.44%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern Minnesota Municipal Power Agency                              | STHRN MINNESOTA ST MUNI PWR AGY PWR SPLY SYS REVENUE         | CUSIP: 843375J23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $843634.96    | 0.48%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                       | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416TD88<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    995000 | PA      | $991657.00    | 0.56%             | 2038-07-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                       | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416TXX1<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   2990000 | PA      | $3099466.89   | 1.75%             | 2037-07-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| City of Deephaven MN                                                   | DEEPHAVEN MN CHARTER SCH LEASE REVENUE                       | CUSIP: 24380HBE1<br>LEI: 5493005IOLNBTFT2MD86 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100006.96    | 0.06%             | 2027-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Plymouth Intermediate District No 287                                  | INTERMEDIATE SCH DIST #287 MN COPS                           | CUSIP: 458934BF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500440.60    | 0.28%             | 2026-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Minnesota                                                     | MINNESOTA ST COPS                                            | CUSIP: 604140XX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1589313.45   | 0.90%             | 2043-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minneapolis-St Paul Metropolitan Airports Commission                   | MINNEAPOLIS-SAINT PAUL MN MET ARPTS COMMISSION ARPT REVENUE  | CUSIP: 603827H66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017396.50   | 0.57%             | 2052-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jordan Independent School District No 717                              | JORDAN MN INDEP SCH DIST #717                                | CUSIP: 480718LF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $530566.60    | 0.30%             | 2039-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Housing & Redevelopment Authority of The City of St Paul Minnesota     | SAINT PAUL MN HSG & REDEV AUTH LEASE REVENUE                 | CUSIP: 79289TER9<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |     95000 | PA      | $93433.78     | 0.05%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Red Lake County Central Independent School District No 2906            | RED LAKE CNTY CENTRL INDEP SCH DIST #2906 SCH BLDG           | CUSIP: 756627AK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $352889.37    | 0.20%             | 2033-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Minnesota Municipal Power Agency                               | CENTRL MN MUNI PWR AGY                                       | CUSIP: 154136AU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $230741.85    | 0.13%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Maple Grove MN                                                 | MAPLE GROVE MN HLTH CARE FACS REVENUE                        | CUSIP: 56516TBR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $736794.59    | 0.42%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of St Cloud MN                                                    | SAINT CLOUD MN HLTH CARE REVENUE                             | CUSIP: 78916VDV9<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1516569.75   | 0.85%             | 2048-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Hennepin MN                                                  | HENNEPIN CNTY MN                                             | CUSIP: 425507PL8<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1602360.45   | 0.90%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Washington County Independent School District No 833/MN          | SOUTH WASHINGTON CNTY MN INDEP SCH DIST #833                 | CUSIP: 840610VG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1680000 | PA      | $1618077.05   | 0.91%             | 2043-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Marshall MN                                                    | MARSHALL MN EDU SVC FACS LSE REV                             | CUSIP: 572509AJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $681044.02    | 0.38%             | 2041-02-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Sauk Centre Public Utilities Commission Electric Revenue               | SAUK CENTRE MN PUBLIC UTILITIES COMMISSION ELECTRIC REVENUE  | CUSIP: 804283AL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $110753.87    | 0.06%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416HYV0<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    255000 | PA      | $255041.79    | 0.14%             | 2027-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Jordan Independent School District No 717                              | JORDAN MN INDEP SCH DIST #717                                | CUSIP: 480718LB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $164778.51    | 0.09%             | 2035-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Goodridge Independent School District No 561                           | GOODRIDGE INDEP SCH DIST #561 MN                             | CUSIP: 382424AT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $536833.94    | 0.30%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of Guam                                                 | GUAM PORT AUTH PORT REVENUE                                  | CUSIP: 400652AH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $295367.05    | 0.17%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Minneapolis MN/St Paul Housing & Redevelopment Authority       | MINNEAPOLIS MN & SAINT PAUL MN HSG & REDEV AUTH HLTH CARE    | CUSIP: 603695JJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $225541.49    | 0.13%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Rochester MN                                                   | ROCHESTER MN HLTH CARE FACS REVENUE                          | CUSIP: 771902GY3<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 1.69%             | 2047-11-15      | Floating      | 2.82%                 | No            |                  2 | On Loan: No      |
| Duluth Independent School District No 709                              | DULUTH MN INDEP SCH DIST #709                                | CUSIP: 264471LN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $785319.54    | 0.44%             | 2033-02-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Antonio B Won Pat International Airport Authority                      | GUAM INTERNATIONAL ARPT AUTH                                 | CUSIP: 40064RFU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $212362.68    | 0.12%             | 2038-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Elk River MN                                                   | ELK RIVER MN                                                 | CUSIP: 2874072V1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1666747.60   | 0.94%             | 2044-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Housing & Redevelopment Authority of The City of St Paul Minnesota     | SAINT PAUL MN HSG & REDEV AUTH LEASE REVENUE                 | CUSIP: 79289TFE7<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1500102.97   | 0.85%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New London Economic Development Authority                      | NEW LONDON ECON DEV AUTH MN PUBLIC PROJECT LEASE REVENUE     | CUSIP: 646565AF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    880000 | PA      | $884599.85    | 0.50%             | 2038-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416JEQ9<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    355000 | PA      | $345956.52    | 0.19%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chisholm Independent School District No 695                            | CHISHOLM MN INDEP SCH DIST #695                              | CUSIP: 170142FL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $861301.65    | 0.49%             | 2030-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| City of Waite Park MN                                                  | WAITE PARK MN                                                | CUSIP: 930727P97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1744379.84   | 0.98%             | 2050-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hopkins Independent School District No 270/MN                          | HOPKINS MN INDEP SCH DIST #270                               | CUSIP: 439881MZ3<br>LEI: 5493008IBV0MJ885RP85 | Long             | DBT              | MUN               | US        |    170000 | PA      | $173653.08    | 0.10%             | 2031-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hastings Independent School District No 200                            | HASTINGS MN INDEP SCH DIST #200                              | CUSIP: 418542PT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1040900.23   | 0.59%             | 2032-02-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Office of Higher Education                                   | MINNESOTA ST OFFICE OF HGR EDU REVENUE                       | CUSIP: 60416MBZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058500.30   | 0.60%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Minnesota Municipal Power Agency                               | CENTRL MN MUNI PWR AGY                                       | CUSIP: 154136AT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $339209.99    | 0.19%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Center City MN                                                 | CENTER CITY MN HLTH CARE FACSREVENUE                         | CUSIP: 151452CA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $254092.00    | 0.14%             | 2031-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Center City MN                                                 | CENTER CITY MN HLTH CARE FACSREVENUE                         | CUSIP: 151452CR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1508913.60   | 0.85%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Office of Higher Education                                   | MINNESOTA ST OFFICE OF HGR EDU REVENUE                       | CUSIP: 60416MBL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $597061.73    | 0.34%             | 2037-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| St Cloud Independent School District No 742/MN                         | ST CLOUD MINN INDPT SCH DISTNO 742 CTFS PARTN                | CUSIP: 789182CE0<br>LEI: 549300777B7XVMYHUU90 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500850.30    | 0.28%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416HKM5<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.28%             | 2037-04-01      | Floating      | 3.75%                 | No            |                  2 | On Loan: No      |
| Rock Ridge Independent School District No 2909                         | ROCK RIDGE MN INDEP SCH DIST #2909                           | CUSIP: 77267QAK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $449242.48    | 0.25%             | 2035-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern Minnesota Municipal Power Agency                              | STHRN MINNESOTA ST MUNI PWR AGY PWR SPLY SYS REVENUE         | CUSIP: 843375C87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $482028.91    | 0.27%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Minnesota                                                | UNIV OF MINNESOTA MN                                         | CUSIP: 914460QL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    770000 | PA      | $783928.99    | 0.44%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nashwauk Keewatin Independent School District No 319                   | NASHWAUK KEEWATIN MN INDEP SCH DIST #319                     | CUSIP: 631500DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $318327.01    | 0.18%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Hennepin MN                                                  | HENNEPIN CNTY MN                                             | CUSIP: 425507QF0<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1598398.65   | 0.90%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of St Cloud MN                                                    | ST CLOUD MN CHRT SCH LEASE REVENUE                           | CUSIP: 788326AC0<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |    750000 | PA      | $688573.58    | 0.39%             | 2036-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Minneapolis MN                                                 | MINNEAPOLIS MN HLTH CARE SYS REVENUE                         | CUSIP: 60374VDS9<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2002975.80   | 1.13%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern Minnesota Municipal Power Agency                              | STHRN MINNESOTA ST MUNI PWR AGY PWR SPLY SYS REVENUE         | CUSIP: 843375B62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $523025.26    | 0.29%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St Paul Port Authority                                                 | SAINT PAUL MN PORT AUTH DIST ENERGY REVENUE                  | CUSIP: 79308GAK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $407796.68    | 0.23%             | 2028-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Housing & Redevelopment Authority of The City of St Paul Minnesota     | SAINT PAUL MN HSG & REDEV AUTH CHRT SCH LEASE REVENUE        | CUSIP: 852297CA6<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    205000 | PA      | $206319.73    | 0.12%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Worthington Independent School District No 518                         | WORTHINGTON MN INDEP SCH DIST#518                            | CUSIP: 981865KN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $442243.43    | 0.25%             | 2030-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Minneapolis MN                                                 | MINNEAPOLIS MN HLTH CARE SYS REVENUE                         | CUSIP: 60374VEX7<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1089202.30   | 0.61%             | 2053-11-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                       | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416S6E5<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    490000 | PA      | $467702.01    | 0.26%             | 2028-07-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| City of Deephaven MN                                                   | DEEPHAVEN MN CHARTER SCH LEASE REVENUE                       | CUSIP: 24380HAR3<br>LEI: 5493005IOLNBTFT2MD86 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500100.40    | 0.28%             | 2040-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                       | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416THZ4<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    320000 | PA      | $348824.77    | 0.20%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Plymouth Intermediate District No 287                                  | INTERMEDIATE SCH DIST #287 MN COPS                           | CUSIP: 458934BG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001140.70   | 0.56%             | 2027-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Columbus MN                                                    | COLUMBUS MN CHRT SCH LEASE REVENUE                           | CUSIP: 199340AB6<br>LEI: 549300GVOKSE82SHJK80 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000156.40   | 0.56%             | 2030-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Anoka-Hennepin Independent School District No 11                       | ANOKA-HENNEPIN MN INDEP SCH DIST #11 COPS                    | CUSIP: 036312AU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007146.10   | 0.57%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Worthington Independent School District No 518                         | WORTHINGTON MN INDEP SCH DIST#518                            | CUSIP: 981865KQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $532462.96    | 0.30%             | 2032-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416JCD0<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    515000 | PA      | $487824.02    | 0.27%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Ramsey MN                                                      | RAMSEY MN CHRT SCH LEASE REVENUE                             | CUSIP: 751814AA2<br>LEI: 549300PYUDKBK3S78343 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000406.60   | 0.56%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chaska MN                                                      | CHASKA MN                                                    | CUSIP: 161664ML8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $253220.80    | 0.14%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Marshall County Independent School District No 441                     | NEWFOLDEN MN INDEP SCH DIST #441                             | CUSIP: 651308CE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $267027.88    | 0.15%             | 2038-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416JFY1<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    775000 | PA      | $825321.37    | 0.47%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Hennepin MN                                                  | HENNEPIN CNTY MN                                             | CUSIP: 425507GX2<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.28%             | 2038-12-01      | Floating      | 2.85%                 | No            |                  2 | On Loan: No      |
| City of Marshall MN                                                    | MARSHALL MN EDU SVC FACS LSE REV                             | CUSIP: 572509AG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $488816.77    | 0.28%             | 2032-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Housing & Redevelopment Authority of The City of St Paul Minnesota     | SAINT PAUL MN HSG & REDEV AUTH HLTH CARE FAC REVENUE         | CUSIP: 792905EJ6<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1675205.85   | 0.94%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Rochester MN                                                   | ROCHESTER MN HLTH CARE FACS REVENUE                          | CUSIP: 771902HM8<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4620235.05   | 2.60%             | 2057-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Shakopee MN Senior Housing Revenue                             | SHAKOPEE MN SENIORHSG REVENUE                                | CUSIP: 81919TAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $724552.02    | 0.41%             | 2058-11-01      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| Housing & Redevelopment Authority of The City of St Paul Minnesota     | SAINT PAUL MN HSG & REDEV AUTH CHRT SCH LEASE REVENUE        | CUSIP: 852297AW0<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    925000 | PA      | $924985.29    | 0.52%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Duluth Economic Development Authority                                  | DULUTH MN ECON DEV AUTH HLTH CARE FACS REVENUE               | CUSIP: 26444CHD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2516865.75   | 1.42%             | 2053-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416JBJ8<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1923645.40   | 1.08%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dakota County Community Development Agency                             | DAKOTA CNTY MN CMNTY DEV AGY MF HSG REVENUE                  | CUSIP: 23409VFP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1419963.00   | 0.80%             | 2043-05-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| City of Shakopee MN                                                    | SHAKOPEE MN HLTH CARE FACS REVENUE                           | CUSIP: 819175BH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $325279.01    | 0.18%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northern Municipal Power Agency                                        | NTHRN MN MUNI PWR AGY ELEC SYS REVENUE                       | CUSIP: 665444KY0<br>LEI: 254900QIGSDY3UDQ9778 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102102.11    | 0.06%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St Paul Port Authority                                                 | SAINT PAUL MN PORT AUTH DIST ENERGY REVENUE                  | CUSIP: 79308GAJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99850.18     | 0.06%             | 2027-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Western Minnesota Municipal Power Agency                               | WSTRN MN MUNI PWR AGY                                        | CUSIP: 958697KA1<br>LEI: 549300LFJK9CQSN2NJ11 | Long             | DBT              | MUN               | US        |    555000 | PA      | $557990.34    | 0.31%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Oak Park Heights MN                                            | OAK PARK HEIGHTS MN MF REVENUE                               | CUSIP: 671575AV0<br>LEI: 549300837OY6JGJQH303 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2500000.00   | 1.41%             | 2035-11-01      | Floating      | 2.86%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416JEP1<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    200000 | PA      | $196890.00    | 0.11%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                       | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416TKF4<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    200000 | PA      | $213509.34    | 0.12%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                   | GUAM GOVT WTRWKS AUTH WTR & WSTWTR SYS REVENUE               | CUSIP: 40065FCH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1501541.55   | 0.85%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                      | GUAM GOVT BUSINESS PRIVILEGE TAX REVENUE                     | CUSIP: 40065NDB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $548448.20    | 0.31%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hawley Independent School District No 150                              | HAWLEY MN INDEP SCH DIST #150                                | CUSIP: 420416GP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $456794.80    | 0.26%             | 2041-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                       | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416T5N4<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    920000 | PA      | $927112.98    | 0.52%             | 2041-07-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Duluth Independent School District No 709                              | DULUTH MN INDEP SCH DIST #709 COPS                           | CUSIP: 264474HK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    395000 | PA      | $398082.26    | 0.22%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Power Authority                                                   | GUAM PWR AUTH REVENUE                                        | CUSIP: 400653LE9<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | US        |    230000 | PA      | $236773.41    | 0.13%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minneapolis-St Paul Metropolitan Airports Commission                   | MINNEAPOLIS-SAINT PAUL MN MET ARPTS COMMISSION ARPT REVENUE  | CUSIP: 603827WW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $498187.20    | 0.28%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416JEJ5<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    200000 | PA      | $204399.68    | 0.12%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Deephaven MN                                                   | DEEPHAVEN MN CHARTER SCH LEASE REVENUE                       | CUSIP: 24380HAQ5<br>LEI: 5493005IOLNBTFT2MD86 | Long             | DBT              | MUN               | US        |    400000 | PA      | $400199.32    | 0.23%             | 2037-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Minnesota                                                     | MINNESOTA ST                                                 | CUSIP: 60412AHM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2190000 | PA      | $2222522.38   | 1.25%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Hugo MN                                                        | HUGO MN CHTR SCH LEASE REVENUE                               | CUSIP: 444584AH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $490287.24    | 0.28%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minneapolis Special School District No 1                               | MINNEAPOLIS MN SPL SCH DIST #1                               | CUSIP: 603790PN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1160233.39   | 0.65%             | 2040-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| St Paul Port Authority                                                 | SAINT PAUL MN PORT AUTH DIST ENERGY REVENUE                  | CUSIP: 79308GAM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $466302.00    | 0.26%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Maple Grove MN                                                 | MAPLE GROVE MN HLTH CARE FACS REVENUE                        | CUSIP: 56516TBQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $509216.30    | 0.29%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Gibbon Independent School District No 2365/MN                          | GIBBON MN INDEP SCH DIST #2365                               | CUSIP: 374627DG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1756084.02   | 0.99%             | 2048-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northern Municipal Power Agency                                        | NTHRN MN MUNI PWR AGY ELEC SYS REVENUE                       | CUSIP: 665444KZ7<br>LEI: 254900QIGSDY3UDQ9778 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1515912.45   | 0.85%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416JFL9<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011298.90   | 0.57%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Minneapolis MN                                                 | MINNEAPOLIS MN HLTH CARE SYS REVENUE                         | CUSIP: 60374VEF6<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001333.10   | 0.56%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Minneapolis MN                                                 | MINNEAPOLIS MN HLTH CARE SYS REVENUE                         | CUSIP: 60374VEB5<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1126528.15   | 0.63%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                       | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416UWS0<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1504926.60   | 0.85%             | 2050-01-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                       | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416SX70<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    300000 | PA      | $312803.04    | 0.18%             | 2031-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Plato MN                                                       | PLATO MN HLTH CARE FACS REVENUE                              | CUSIP: 72766SAL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $550107.20    | 0.31%             | 2041-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Cologne MN                                                     | COLOGNE MN CHRT SCH LEASE REVENUE                            | CUSIP: 195239AH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $485256.42    | 0.27%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Minneapolis MN                                                 | MINNEAPOLIS MN HLTH CARE SYS REVENUE                         | CUSIP: 60374VET6<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    975000 | PA      | $944795.18    | 0.53%             | 2038-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416JEK2<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    170000 | PA      | $172642.28    | 0.10%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sartell-St Stephen Independent School District No 748                  | SARTELL MN INDEP SCH DIST #748                               | CUSIP: 803820KV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200374.46    | 0.11%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minneapolis-St Paul Metropolitan Airports Commission                   | MINNEAPOLIS-SAINT PAUL MN MET ARPTS COMMISSION ARPT REVENUE  | CUSIP: 603827Q90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $449487.95    | 0.25%             | 2054-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Maple Grove MN                                                 | MAPLE GROVE MN HLTH CARE FACS REVENUE                        | CUSIP: 56516TBP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $865500.43    | 0.49%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of St Cloud MN                                                    | SAINT CLOUD MN HLTH CARE REVENUE                             | CUSIP: 78916VEU0<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |    550000 | PA      | $558608.88    | 0.31%             | 2054-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Minneapolis MN                                                 | MINNEAPOLIS MN CHARTER SCH LEASE REVENUE                     | CUSIP: 60375CBD5<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    700000 | PA      | $511842.45    | 0.29%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Duluth Economic Development Authority                                  | DULUTH MN ECON DEV AUTH HLTH CARE FACS REVENUE               | CUSIP: 26444CHG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1454433.09   | 0.82%             | 2058-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Minnesota                                                     | MINNESOTA ST                                                 | CUSIP: 60412AYM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1077631.00   | 0.61%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of St Cloud MN                                                    | SAINT CLOUD MN HLTH CARE REVENUE                             | CUSIP: 78916VDM9<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |    300000 | PA      | $303912.75    | 0.17%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416JDA5<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2492299.43   | 1.40%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Western Minnesota Municipal Power Agency                               | WSTRN MN MUNI PWR AGY                                        | CUSIP: 958697KL7<br>LEI: 549300LFJK9CQSN2NJ11 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1523226.45   | 0.86%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Otsego MN                                                      | OTSEGO CHRT SCH LEASE REVENUE                                | CUSIP: 689149AB8<br>LEI: 549300C7IZXQ4JXHZS47 | Long             | DBT              | MUN               | US        |   1015000 | PA      | $994403.11    | 0.56%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL Lakeshore East Special Assessment Area              | CHICAGO IL SPL ASSMNT                                        | CUSIP: 167686AG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    327000 | PA      | $326074.23    | 0.18%             | 2025-12-01      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| Housing & Redevelopment Authority of The City of St Paul Minnesota     | SAINT PAUL MN HSG & REDEV AUTH CHRT SCH LEASE REVENUE        | CUSIP: 852297CU2<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    750000 | PA      | $656373.90    | 0.37%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minneapolis-St Paul Metropolitan Airports Commission                   | MINNEAPOLIS-SAINT PAUL MN MET ARPTS COMMISSION ARPT REVENUE  | CUSIP: 603827ZX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $251199.73    | 0.14%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Virginia MN                                                    | VIRGINIA MN                                                  | CUSIP: 9278725C1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $423137.44    | 0.24%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Minnesota                                                | UNIV OF MINNESOTA MN                                         | CUSIP: 914460SK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $288217.36    | 0.16%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Office of Higher Education                                   | MINNESOTA ST OFFICE OF HGR EDU REVENUE                       | CUSIP: 60416MBR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $516775.00    | 0.29%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416JHN3<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1559449.50   | 0.88%             | 2053-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416HV27<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    750000 | PA      | $756730.28    | 0.43%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Marshall MN                                                    | MARSHALL MN EDU SVC FACS LSE REV                             | CUSIP: 572509AK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $721992.74    | 0.41%             | 2045-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Brainerd Independent School District No 181                            | BRAINERD MN INDEP SCH DIST #181                              | CUSIP: 105007NJ3<br>LEI: 549300P1U3THZTOHA392 | Long             | DBT              | MUN               | US        |    225000 | PA      | $221936.29    | 0.13%             | 2043-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Moorhead MN                                                    | MOORHEAD MN EDUCTNL FACS REVENUE                             | CUSIP: 61615DBG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $540000.00    | 0.30%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nashwauk Keewatin Independent School District No 319                   | NASHWAUK KEEWATIN MN INDEP SCH DIST #319                     | CUSIP: 631500DB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $773675.20    | 0.44%             | 2043-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Duluth Economic Development Authority                                  | DULUTH MN ECON DEV AUTH HLTH CARE FACS REVENUE               | CUSIP: 26444CHC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $653930.23    | 0.37%             | 2048-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Ham Lake MN                                                    | HAM LAKE MN CHRT SCH LEASE REVENUE                           | CUSIP: 406511AL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $325868.17    | 0.18%             | 2028-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of St Paul MN Water Revenue                                       | SAINT PAUL MN WTR REVENUE                                    | CUSIP: 793073JF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1189210.41   | 0.67%             | 2045-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hastings Independent School District No 200                            | HASTINGS MN INDEP SCH DIST #200                              | CUSIP: 418542PU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1145000 | PA      | $875211.78    | 0.49%             | 2033-02-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Municipal Power Agency                                       | MINNESOTA ST MUNI PWR AGY ELEC REVENUE                       | CUSIP: 60412PFX3<br>LEI: 5493007DGBKI6ICBXO38 | Long             | DBT              | MUN               | US        |    500000 | PA      | $501330.00    | 0.28%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Hennepin MN                                                  | HENNEPIN CNTY MN                                             | CUSIP: 425507JT8<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |    250000 | PA      | $277127.68    | 0.16%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Housing & Redevelopment Authority of The City of St Paul Minnesota     | SAINT PAUL MN HSG & REDEV AUTH CHRT SCH LEASE REVENUE        | CUSIP: 852297CB4<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010436.70   | 0.57%             | 2031-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Antonio B Won Pat International Airport Authority                      | GUAM INTERNATIONAL ARPT AUTH                                 | CUSIP: 40064RGB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $105032.43    | 0.06%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Rice MN                                                      | RICE CNTY MN                                                 | CUSIP: 762698LA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1427472.90   | 0.80%             | 2048-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416JCX6<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $868750.80    | 0.49%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Minnesota                                                     | MINNESOTA ST                                                 | CUSIP: 60412ATS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1870744.75   | 1.05%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Center City MN                                                 | CENTER CITY MN HLTH CARE FACSREVENUE                         | CUSIP: 151452BZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $255283.63    | 0.14%             | 2030-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Ham Lake MN                                                    | HAM LAKE MN CHRT SCH LEASE REVENUE                           | CUSIP: 406511AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $626366.13    | 0.35%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Hennepin MN                                                  | HENNEPIN CNTY MN                                             | CUSIP: 425507GR5<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |    160000 | PA      | $167586.43    | 0.09%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St Paul Port Authority                                                 | SAINT PAUL MN PORT AUTH DIST ENERGY REVENUE                  | CUSIP: 79308GAL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $213772.91    | 0.12%             | 2034-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416JAR1<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    410000 | PA      | $390843.41    | 0.22%             | 2036-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Becker Independent School District No 726                              | BECKER MN INDEP SCH DIST #726                                | CUSIP: 075671MY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100417.91    | 0.06%             | 2026-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| St Cloud Independent School District No 742/MN                         | ST CLOUD MINN INDPT SCH DISTNO 742 CTFS PARTN                | CUSIP: 789182CF7<br>LEI: 549300777B7XVMYHUU90 | Long             | DBT              | MUN               | US        |    350000 | PA      | $350592.34    | 0.20%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Minnesota                                                     | MINNESOTA ST                                                 | CUSIP: 60412AQB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259439.18    | 0.15%             | 2031-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                   | GUAM GOVT WTRWKS AUTH WTR & WSTWTR SYS REVENUE               | CUSIP: 40065FFF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $802964.03    | 0.45%             | 2043-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Chisholm Independent School District No 695                            | CHISHOLM MN INDEP SCH DIST #695                              | CUSIP: 170142FK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $558137.55    | 0.31%             | 2029-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                       | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416USQ9<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012039.40   | 0.57%             | 2045-07-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| County of Hennepin MN                                                  | HENNEPIN CNTY MN                                             | CUSIP: 425507GV6<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |    910000 | PA      | $941894.41    | 0.53%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                   | GUAM GOVT WTRWKS AUTH WTR & WSTWTR SYS REVENUE               | CUSIP: 40065FEE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    885000 | PA      | $903832.09    | 0.51%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sauk Centre Public Utilities Commission Electric Revenue               | SAUK CENTRE MN PUBLIC UTILITIES COMMISSION ELECTRIC REVENUE  | CUSIP: 804283AM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253284.45    | 0.14%             | 2037-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Guam Power Authority                                                   | GUAM PWR AUTH REVENUE                                        | CUSIP: 400653LD1<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | US        |    250000 | PA      | $258251.13    | 0.15%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Minnesota Municipal Power Agency                               | CENTRL MN MUNI PWR AGY                                       | CUSIP: 154136BD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $346209.29    | 0.20%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416JAU4<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    570000 | PA      | $570000.00    | 0.32%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Western Minnesota Municipal Power Agency                               | WSTRN MN MUNI PWR AGY                                        | CUSIP: 958697KE3<br>LEI: 549300LFJK9CQSN2NJ11 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003798.40   | 0.57%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of St Cloud MN                                                    | ST CLOUD MN CHRT SCH LEASE REVENUE                           | CUSIP: 788326AF3<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |    355000 | PA      | $257375.00    | 0.15%             | 2032-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Deephaven MN                                                   | DEEPHAVEN MN CHARTER SCH LEASE REVENUE                       | CUSIP: 24380HBD3<br>LEI: 5493005IOLNBTFT2MD86 | Long             | DBT              | MUN               | US        |    100000 | PA      | $99982.60     | 0.06%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Gibbon Independent School District No 2365/MN                          | GIBBON MN INDEP SCH DIST #2365                               | CUSIP: 374627DD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $316923.12    | 0.18%             | 2041-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Housing & Redevelopment Authority of The City of St Paul Minnesota     | SAINT PAUL MN HSG & REDEV AUTH CHRT SCH LEASE REVENUE        | CUSIP: 852297DB3<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    400000 | PA      | $361283.24    | 0.20%             | 2055-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minneapolis-St Paul Metropolitan Airports Commission                   | MINNEAPOLIS-SAINT PAUL MN MET ARPTS COMMISSION ARPT REVENUE  | CUSIP: 603827ZA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005339.50   | 0.57%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Red Lake County Central Independent School District No 2906            | RED LAKE CNTY CENTRL INDEP SCH DIST #2906 SCH BLDG           | CUSIP: 756627AJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $284090.33    | 0.16%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnetonka Independent School District No 276                          | MINNETONKA MN INDEP SCH DIST #276 COPS                       | CUSIP: 604204F69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1198577.14   | 0.68%             | 2041-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Brainerd Independent School District No 181                            | BRAINERD MN INDEP SCH DIST #181                              | CUSIP: 105007NE4<br>LEI: 549300P1U3THZTOHA392 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2008230.80   | 1.13%             | 2039-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Minneapolis MN                                                 | MINNEAPOLIS MN HLTH CARE SYS REVENUE                         | CUSIP: 60374VDY6<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036423.70   | 0.58%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Stillwater Independent School District No 834                          | STILLWATER MN INDEP SCH DIST #834                            | CUSIP: 860758TA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1071831.70   | 0.60%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Minnesota Department of Iron Range Resources & Rehabilitation | MINNESOTA ST DEPT IRON RANGE RESOURCES & REHABILITATION REVE | CUSIP: 60414HAN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2490000 | PA      | $2746248.39   | 1.55%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                       | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416SJR2<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500852.75    | 0.28%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hawley Independent School District No 150                              | HAWLEY MN INDEP SCH DIST #150                                | CUSIP: 420416GN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $783702.83    | 0.44%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Brainerd Independent School District No 181                            | BRAINERD MN INDEP SCH DIST #181                              | CUSIP: 105007NH7<br>LEI: 549300P1U3THZTOHA392 | Long             | DBT              | MUN               | US        |   2060000 | PA      | $2060694.63   | 1.16%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Westchester County Local Development Corp                              | WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | CUSIP: 95737TFA9<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |    145000 | PA      | $147226.24    | 0.08%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Minneapolis MN                                                 | MINNEAPOLIS MN STUDENT HSG REVENUE                           | CUSIP: 60379NBW5<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    760000 | PA      | $760557.23    | 0.43%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Office of Higher Education                                   | MINNESOTA ST OFFICE OF HGR EDU REVENUE                       | CUSIP: 60416MBK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $711286.38    | 0.40%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Shakopee MN                                                    | SHAKOPEE MN HLTH CARE FACS REVENUE                           | CUSIP: 819175BF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $700695.45    | 0.39%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Minnesota                                                     | MINNESOTA ST                                                 | CUSIP: 60412ATN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1092975.80   | 0.62%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Cologne MN                                                     | COLOGNE MN CHRT SCH LEASE REVENUE                            | CUSIP: 195239AJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500061.90    | 0.28%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Minnesota                                                     | MINNESOTA ST                                                 | CUSIP: 60412AQ97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1499575.35   | 0.85%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Housing & Redevelopment Authority of The City of St Paul Minnesota     | SAINT PAUL MN HSG & REDEV AUTH HLTH CARE REVENUE             | CUSIP: 792909FG3<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    565000 | PA      | $578959.57    | 0.33%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Center City MN                                                 | CENTER CITY MN HLTH CARE FACSREVENUE                         | CUSIP: 151452CB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $301910.88    | 0.17%             | 2034-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Northeastern Metropolitan Intermediate School District No 916          | N E MN MET INTERMEDIATE SCH DIST #916 COPS                   | CUSIP: 664259DB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1502538.60   | 0.85%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates                         | TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES      | CUSIP: 88035MN50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $435000.00    | 0.25%             | 2053-11-15      | Floating      | 2.92%                 | No            |                  2 | On Loan: No      |
| Marshall County Independent School District No 441                     | NEWFOLDEN MN INDEP SCH DIST #441                             | CUSIP: 651308CD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $270853.63    | 0.15%             | 2037-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                       | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416UVJ1<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    515000 | PA      | $511620.42    | 0.29%             | 2027-07-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Minnesota Health & Education Facilities Authority                      | MINNESOTA ST HGR EDU FACS AUTH REVENUE                       | CUSIP: 60416JES5<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    295000 | PA      | $301427.46    | 0.17%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Forest Lake MN                                                 | FOREST LAKE MN MF HSG REVENUE                                | CUSIP: 345893AA9<br>LEI: 549300YEG0ZNW83BJB14 | Long             | DBT              | MUN               | US        |   2435000 | PA      | $2435000.00   | 1.37%             | 2038-08-15      | Floating      | 2.97%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                       | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416TJA7<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    465000 | PA      | $516049.84    | 0.29%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Minnesota                                                     | MINNESOTA ST                                                 | CUSIP: 60412AN25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $861081.96    | 0.49%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New London Economic Development Authority                      | NEW LONDON ECON DEV AUTH MN PUBLIC PROJECT LEASE REVENUE     | CUSIP: 646565AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506384.25    | 0.29%             | 2033-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Lake Agassiz Education Cooperative No 0397-52                          | LAKE AGASSIZ EDU COOPERATIVE #0397-52 MN COPS                | CUSIP: 507421AJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $304120.57    | 0.17%             | 2030-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                       | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416S6D7<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    630000 | PA      | $606260.72    | 0.34%             | 2028-01-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                               | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116JG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $351846.27    | 0.20%             | 2044-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| City of Forest Lake MN                                                 | FOREST LAKE MN CHARTER SCH LEASE REVENUE                     | CUSIP: 345856AH1<br>LEI: 549300YEG0ZNW83BJB14 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500299.20    | 0.28%             | 2036-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of St Cloud MN                                                    | SAINT CLOUD MN HLTH CARE REVENUE                             | CUSIP: 78916VET3<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |   3235000 | PA      | $2864676.93   | 1.61%             | 2050-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Hennepin MN                                                  | HENNEPIN CNTY MN                                             | CUSIP: 425507EJ5<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |    450000 | PA      | $461897.24    | 0.26%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Wadena MN                                                      | WADENA MN REVENUE                                            | CUSIP: 930256AK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2900000 | PA      | $2967354.53   | 1.67%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alexandria Lake Area Sanitation District                               | ALEXANDRIA LAKE MN AREA SANTNDIST SANTN SWR BRD              | CUSIP: 015091DP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $308452.76    | 0.17%             | 2044-02-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| State of Minnesota                                                     | MINNESOTA ST COPS                                            | CUSIP: 604140XW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3199322.40   | 1.80%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Agricultural & Economic Development Board                    | MINNESOTA ST AGRIC & ECON DEVBRD                             | CUSIP: 6049203C0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1552994.40   | 0.88%             | 2047-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Hennepin MN                                                  | HENNEPIN CNTY MN                                             | CUSIP: 425507QC7<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |   1610000 | PA      | $1762899.77   | 0.99%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Minneapolis MN                                                 | MINNEAPOLIS MN HLTH CARE SYS REVENUE                         | CUSIP: 60374VEA7<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    390000 | PA      | $401169.41    | 0.23%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                       | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416SJL5<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1673739.59   | 0.94%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lake Agassiz Education Cooperative No 0397-52                          | LAKE AGASSIZ EDU COOPERATIVE #0397-52 MN COPS                | CUSIP: 507421AH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $296341.53    | 0.17%             | 2029-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-28

**Name of Applicant:** ALLSPRING FUNDS TRUST

**Signature:** Jeremy DePalma

**Name of Signer:** Jeremy DePalma

**Title:** Treasurer