# EDGAR Filing Document

**Accession Number:** 0001081400
**File Stem:** 0001193125-26-190157
**Filing Date:** 2026-4
**Character Count:** 1026872
**Document Hash:** 1c8ace4c849a41b42e8a7d587892e2e0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-190157.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0001193125-26-190157

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 31

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260429

**EFFECTIVENESS DATE**: 20260429

**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:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09253
- **FILM NUMBER:** 26912372

**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 Government Securities Fund (Series ID: S000007415)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000020349 | Class A             | SGVDX           |
| C000020350 | Institutional Class | SGVIX           |

### Allspring Core Plus Bond Fund (Series ID: S000007418)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000020358 | Class A             | STYAX           |
| C000020360 | Class C             | WFIPX           |
| C000064985 | Institutional Class | WIPIX           |
| C000092792 | Administrator Class | WIPDX           |
| C000176628 | Class R6            | STYJX           |

### Allspring Short Duration Government Bond Fund (Series ID: S000007419)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000020361 | Institutional Class | WSGIX           |
| C000020362 | Class A             | MSDAX           |
| C000120079 | Class R6            | MSDRX           |

### Allspring Short-Term Bond Plus Fund (Series ID: S000007427)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000020381 | Class A             | SSTVX           |
| C000020382 | Institutional Class | SSHIX           |
| C000205248 | Class R6            | SSTYX           |

### Allspring Short-Term High Income Fund (Series ID: S000007428)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000020384 | Class A             | SSTHX           |
| C000064988 | Class C             | WFHYX           |
| C000123105 | Institutional Class | STYIX           |

### Allspring Ultra Short-Term Income Fund (Series ID: S000007431)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000020395 | Class A             | SADAX           |
| C000020396 | Institutional Class | SADIX           |
| C000220297 | Class A2            | WUSNX           |

### Allspring High Yield Bond Fund (Series ID: S000029107)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000089484 | Class A             | EKHAX           |
| C000150669 | Institutional Class | EKHIX           |

### Allspring Managed Account CoreBuilder Shares Series CP (Series ID: S000069934)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000222758 | CoreBuilder Shares Series CP | WFCPX           |

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

![LOGO](g132415g0425154342900.jpg)

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM N-CSRS

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED

#### MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number: 811-09253

## Allspring Funds Trust

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

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

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

#### Matthew Prasse

#### Allspring Funds Management, LLC

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

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

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

#### Date of fiscal year end: August 31
**Registrant is making a filing for 8 of its series:** Allspring Core Plus Bond Fund, Allspring Government Securities Fund, Allspring High Yield Bond Fund, Allspring Managed Account CoreBuilder<sup>®</sup> Shares - Series CP, Allspring Short Duration Government Bond Fund, Allspring Short-Term Bond Plus Fund, Allspring Short-Term High Income Bond Fund and Allspring Ultra Short-Term Income Fund.

#### Date of reporting period: February 28, 2026

------

<u>ITEM 1. REPORT TO STOCKHOLDERS</u>![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Core Plus Bond Fund

# February 28, 2026

# WIPIX

## Institutional Class
This semi-annual shareholder report contains important information about Core Plus Bond Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

---

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

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $10842219372 |
| # of portfolio holdings | 940 |
| Portfolio turnover rate | 66% |
| Total advisory fees paid | $13138600 |

---

## What did the Fund invest in?

### PORTFOLIO COMPOSITION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Agency securities | 29.3 |
| Corporate bonds and notes | 22.8 |
| U.S. Treasury securities | 13.2 |
| Asset-backed securities | 9.9 |
| Yankee corporate bonds and notes | 8.8 |
| Non-agency mortgage-backed securities | 5.7 |
| Foreign government bonds | 4.9 |
| Foreign corporate bonds and notes | 3.1 |
| Yankee government bonds | 1.6 |
| Investment companies | 0.7 |

---

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

---

| | |
|:---|:---|
| U.S. Treasury Bonds, 4.63%, 2-15-2046 | 1.7 |
| U.S. Treasury Bonds, 4.63%, 11-15-2045 | 1.7 |
| GNMA, 5.00%, 11-20-2054 | 1.5 |
| U.S. Treasury Notes, 3.75%, 1-31-2031 | 1.4 |
| FNMA, 6.00%, 5-1-2055 | 1.4 |
| U.S. Treasury Notes, 4.13%, 11-15-2032 | 1.2 |
| U.S. Treasury Notes, 3.50%, 1-15-2029 | 1.1 |
| U.S. Treasury Bonds, 4.63%, 5-15-2044 | 1 |
| GNMA, 5.50%, 10-20-2055 | 0.9 |
| FNMA, 2.00%, 10-1-2051 | 0.9 |

---

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

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

#### SAR3165 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Core Plus Bond Fund

# February 28, 2026

# STYJX

## Class R6
This semi-annual shareholder report contains important information about Core Plus Bond Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Class R6 | $15 | 0.30%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $10842219372 |
| # of portfolio holdings | 940 |
| Portfolio turnover rate | 66% |
| Total advisory fees paid | $13138600 |

---

## What did the Fund invest in?

### PORTFOLIO COMPOSITION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Agency securities | 29.3 |
| Corporate bonds and notes | 22.8 |
| U.S. Treasury securities | 13.2 |
| Asset-backed securities | 9.9 |
| Yankee corporate bonds and notes | 8.8 |
| Non-agency mortgage-backed securities | 5.7 |
| Foreign government bonds | 4.9 |
| Foreign corporate bonds and notes | 3.1 |
| Yankee government bonds | 1.6 |
| Investment companies | 0.7 |

---

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

---

| | |
|:---|:---|
| U.S. Treasury Bonds, 4.63%, 2-15-2046 | 1.7 |
| U.S. Treasury Bonds, 4.63%, 11-15-2045 | 1.7 |
| GNMA, 5.00%, 11-20-2054 | 1.5 |
| U.S. Treasury Notes, 3.75%, 1-31-2031 | 1.4 |
| FNMA, 6.00%, 5-1-2055 | 1.4 |
| U.S. Treasury Notes, 4.13%, 11-15-2032 | 1.2 |
| U.S. Treasury Notes, 3.50%, 1-15-2029 | 1.1 |
| U.S. Treasury Bonds, 4.63%, 5-15-2044 | 1 |
| GNMA, 5.50%, 10-20-2055 | 0.9 |
| FNMA, 2.00%, 10-1-2051 | 0.9 |

---

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

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

#### SAR4689 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Core Plus Bond Fund

# February 28, 2026

# WFIPX

## Class C
This semi-annual shareholder report contains important information about Core Plus Bond Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Class C | $72 | 1.41%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $10842219372 |
| # of portfolio holdings | 940 |
| Portfolio turnover rate | 66% |
| Total advisory fees paid | $13138600 |

---

## What did the Fund invest in?

### PORTFOLIO COMPOSITION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Agency securities | 29.3 |
| Corporate bonds and notes | 22.8 |
| U.S. Treasury securities | 13.2 |
| Asset-backed securities | 9.9 |
| Yankee corporate bonds and notes | 8.8 |
| Non-agency mortgage-backed securities | 5.7 |
| Foreign government bonds | 4.9 |
| Foreign corporate bonds and notes | 3.1 |
| Yankee government bonds | 1.6 |
| Investment companies | 0.7 |

---

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

---

| | |
|:---|:---|
| U.S. Treasury Bonds, 4.63%, 2-15-2046 | 1.7 |
| U.S. Treasury Bonds, 4.63%, 11-15-2045 | 1.7 |
| GNMA, 5.00%, 11-20-2054 | 1.5 |
| U.S. Treasury Notes, 3.75%, 1-31-2031 | 1.4 |
| FNMA, 6.00%, 5-1-2055 | 1.4 |
| U.S. Treasury Notes, 4.13%, 11-15-2032 | 1.2 |
| U.S. Treasury Notes, 3.50%, 1-15-2029 | 1.1 |
| U.S. Treasury Bonds, 4.63%, 5-15-2044 | 1 |
| GNMA, 5.50%, 10-20-2055 | 0.9 |
| FNMA, 2.00%, 10-1-2051 | 0.9 |

---

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

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

#### SAR0559 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Core Plus Bond Fund

# February 28, 2026

# STYAX

## Class A
This semi-annual shareholder report contains important information about Core Plus Bond Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Class A | $33 | 0.65%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $10842219372 |
| # of portfolio holdings | 940 |
| Portfolio turnover rate | 66% |
| Total advisory fees paid | $13138600 |

---

## What did the Fund invest in?

### PORTFOLIO COMPOSITION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Agency securities | 29.3 |
| Corporate bonds and notes | 22.8 |
| U.S. Treasury securities | 13.2 |
| Asset-backed securities | 9.9 |
| Yankee corporate bonds and notes | 8.8 |
| Non-agency mortgage-backed securities | 5.7 |
| Foreign government bonds | 4.9 |
| Foreign corporate bonds and notes | 3.1 |
| Yankee government bonds | 1.6 |
| Investment companies | 0.7 |

---

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

---

| | |
|:---|:---|
| U.S. Treasury Bonds, 4.63%, 2-15-2046 | 1.7 |
| U.S. Treasury Bonds, 4.63%, 11-15-2045 | 1.7 |
| GNMA, 5.00%, 11-20-2054 | 1.5 |
| U.S. Treasury Notes, 3.75%, 1-31-2031 | 1.4 |
| FNMA, 6.00%, 5-1-2055 | 1.4 |
| U.S. Treasury Notes, 4.13%, 11-15-2032 | 1.2 |
| U.S. Treasury Notes, 3.50%, 1-15-2029 | 1.1 |
| U.S. Treasury Bonds, 4.63%, 5-15-2044 | 1 |
| GNMA, 5.50%, 10-20-2055 | 0.9 |
| FNMA, 2.00%, 10-1-2051 | 0.9 |

---

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

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

#### SAR0059 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Core Plus Bond Fund

# February 28, 2026

# WIPDX

## Administrator Class
This semi-annual shareholder report contains important information about Core Plus Bond Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Administrator Class | $31 | 0.60%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $10842219372 |
| # of portfolio holdings | 940 |
| Portfolio turnover rate | 66% |
| Total advisory fees paid | $13138600 |

---

## What did the Fund invest in?

### PORTFOLIO COMPOSITION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Agency securities | 29.3 |
| Corporate bonds and notes | 22.8 |
| U.S. Treasury securities | 13.2 |
| Asset-backed securities | 9.9 |
| Yankee corporate bonds and notes | 8.8 |
| Non-agency mortgage-backed securities | 5.7 |
| Foreign government bonds | 4.9 |
| Foreign corporate bonds and notes | 3.1 |
| Yankee government bonds | 1.6 |
| Investment companies | 0.7 |

---

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

---

| | |
|:---|:---|
| U.S. Treasury Bonds, 4.63%, 2-15-2046 | 1.7 |
| U.S. Treasury Bonds, 4.63%, 11-15-2045 | 1.7 |
| GNMA, 5.00%, 11-20-2054 | 1.5 |
| U.S. Treasury Notes, 3.75%, 1-31-2031 | 1.4 |
| FNMA, 6.00%, 5-1-2055 | 1.4 |
| U.S. Treasury Notes, 4.13%, 11-15-2032 | 1.2 |
| U.S. Treasury Notes, 3.50%, 1-15-2029 | 1.1 |
| U.S. Treasury Bonds, 4.63%, 5-15-2044 | 1 |
| GNMA, 5.50%, 10-20-2055 | 0.9 |
| FNMA, 2.00%, 10-1-2051 | 0.9 |

---

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

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

#### SAR3767 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Government Securities Fund

# February 28, 2026

# SGVIX

## Institutional Class
This semi-annual shareholder report contains important information about Government Securities Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Institutional Class | $24 | 0.48%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $360956405 |
| # of portfolio holdings | 281 |
| Portfolio turnover rate | 43% |
| Total advisory fees paid | $671895 |

---

## What did the Fund invest in?

### PORTFOLIO COMPOSITION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Agency securities | 69.6 |
| U.S. Treasury securities | 22.5 |
| Non-agency mortgage-backed securities | 4.3 |
| Corporate bonds and notes | 2.8 |
| Asset-backed securities | 0.8 |

---

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

---

| | |
|:---|:---|
| FNMA, 2.00%, 2-1-2052 | 4.9 |
| U.S. Treasury Notes, 3.88%, 7-31-2030 | 3.1 |
| FNMA, 6.00%, 7-1-2055 | 2.7 |
| U.S. Treasury Notes, 3.38%, 11-30-2027 | 2.5 |
| U.S. Treasury Bonds, 4.63%, 2-15-2046 | 2.3 |
| Resolution Funding Corp. Principal STRIPS, 0.00%, 1-15-2030 | 2.2 |
| U.S. Treasury Notes, 3.63%, 8-31-2027 | 1.9 |
| FHLMC, 2.50%, 11-1-2051 | 1.8 |
| U.S. Treasury Bonds, 4.38%, 8-15-2043 | 1.4 |
| GNMA, 5.50%, 10-20-2055 | 1.3 |

---

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

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

#### SAR3101 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Government Securities Fund

# February 28, 2026

# SGVDX

## Class A
This semi-annual shareholder report contains important information about Government Securities Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Class A | $40 | 0.78%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $360956405 |
| # of portfolio holdings | 281 |
| Portfolio turnover rate | 43% |
| Total advisory fees paid | $671895 |

---

## What did the Fund invest in?

### PORTFOLIO COMPOSITION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Agency securities | 69.6 |
| U.S. Treasury securities | 22.5 |
| Non-agency mortgage-backed securities | 4.3 |
| Corporate bonds and notes | 2.8 |
| Asset-backed securities | 0.8 |

---

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

---

| | |
|:---|:---|
| FNMA, 2.00%, 2-1-2052 | 4.9 |
| U.S. Treasury Notes, 3.88%, 7-31-2030 | 3.1 |
| FNMA, 6.00%, 7-1-2055 | 2.7 |
| U.S. Treasury Notes, 3.38%, 11-30-2027 | 2.5 |
| U.S. Treasury Bonds, 4.63%, 2-15-2046 | 2.3 |
| Resolution Funding Corp. Principal STRIPS, 0.00%, 1-15-2030 | 2.2 |
| U.S. Treasury Notes, 3.63%, 8-31-2027 | 1.9 |
| FHLMC, 2.50%, 11-1-2051 | 1.8 |
| U.S. Treasury Bonds, 4.38%, 8-15-2043 | 1.4 |
| GNMA, 5.50%, 10-20-2055 | 1.3 |

---

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

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

#### SAR3004 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# High Yield Bond Fund

# February 28, 2026

# EKHIX

## Institutional Class
This semi-annual shareholder report contains important information about High Yield Bond Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Institutional Class | $27 | 0.53%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $234357685 |
| # of portfolio holdings | 279 |
| Portfolio turnover rate | 21% |
| Total advisory fees paid | $494908 |

---

## What did the Fund invest in?

### CREDIT QUALITY (% OF LONG-TERM FIXED INCOME INVESTMENTS)<sup>Footnote Reference \*</sup>

---

| | |
|:---|:---|
| BBB/Baa | 4 |
| BB/Ba | 54.7 |
| B/B | 28.8 |
| CCC/Caa and below | 11.5 |
| Not rated | 1 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;The ratings indicated are from Standard & Poor's, Fitch Ratings Ltd., and/or Moody's Investors Service. The percentage of the Fund's portfolio with the ratings depicted in the chart are calculated based on long-term fixed income investments of the Fund. If the security was rated by all three ratings agencies, the middle rating was used. If rated by two out of the three ratings agencies, the lower was used, and if rated by one of the agencies, that rating was used. Credit quality is subject to change and may have changed since the date specified. |

---

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

---

| | |
|:---|:---|
| EchoStar Corp., 6.75%, 11-30-2030 | 1.3 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.50%, 8-15-2030 | 1.2 |
| DaVita, Inc., 6.88%, 9-1-2032 | 1 |
| Citigroup, Inc. Series HH, 6.63%, 2-15-2031 | 1 |
| Rogers Communications, Inc., 7.13%, 4-15-2055 | 0.9 |
| CoreCivic, Inc., 8.25%, 4-15-2029 | 0.9 |
| 1261229 BC Ltd., 10.00%, 4-15-2032 | 0.9 |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 7.38%, 10-1-2032 | 0.9 |
| Carvana Co., 9.00%, 6-1-2030 | 0.8 |
| DISH Network Corp., 11.75%, 11-15-2027 | 0.8 |

---

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

Effective October 8, 2025, Chris Lee was no longer a portfolio manager of the Fund. As of this date, Brian Keller, CFA, was added as a portfolio manager of the Fund.

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

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

#### SAR3180 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# High Yield Bond Fund

# February 28, 2026

# EKHAX

## Class A
This semi-annual shareholder report contains important information about High Yield Bond Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Class A | $43 | 0.86%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $234357685 |
| # of portfolio holdings | 279 |
| Portfolio turnover rate | 21% |
| Total advisory fees paid | $494908 |

---

## What did the Fund invest in?

### CREDIT QUALITY (% OF LONG-TERM FIXED INCOME INVESTMENTS)<sup>Footnote Reference \*</sup>

---

| | |
|:---|:---|
| BBB/Baa | 4 |
| BB/Ba | 54.7 |
| B/B | 28.8 |
| CCC/Caa and below | 11.5 |
| Not rated | 1 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;The ratings indicated are from Standard & Poor's, Fitch Ratings Ltd., and/or Moody's Investors Service. The percentage of the Fund's portfolio with the ratings depicted in the chart are calculated based on long-term fixed income investments of the Fund. If the security was rated by all three ratings agencies, the middle rating was used. If rated by two out of the three ratings agencies, the lower was used, and if rated by one of the agencies, that rating was used. Credit quality is subject to change and may have changed since the date specified. |

---

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

---

| | |
|:---|:---|
| EchoStar Corp., 6.75%, 11-30-2030 | 1.3 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.50%, 8-15-2030 | 1.2 |
| DaVita, Inc., 6.88%, 9-1-2032 | 1 |
| Citigroup, Inc. Series HH, 6.63%, 2-15-2031 | 1 |
| Rogers Communications, Inc., 7.13%, 4-15-2055 | 0.9 |
| CoreCivic, Inc., 8.25%, 4-15-2029 | 0.9 |
| 1261229 BC Ltd., 10.00%, 4-15-2032 | 0.9 |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 7.38%, 10-1-2032 | 0.9 |
| Carvana Co., 9.00%, 6-1-2030 | 0.8 |
| DISH Network Corp., 11.75%, 11-15-2027 | 0.8 |

---

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

Effective October 8, 2025, Chris Lee was no longer a portfolio manager of the Fund. As of this date, Brian Keller, CFA, was added as a portfolio manager of the Fund.

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

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

#### SAR4323 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Short Duration Government Bond Fund

# February 28, 2026

# WSGIX

## Institutional Class
This semi-annual shareholder report contains important information about Short Duration Government Bond Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Institutional Class | $21 | 0.42%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $215381039 |
| # of portfolio holdings | 62 |
| Portfolio turnover rate | 127% |
| Total advisory fees paid | $281157 |

---

## What did the Fund invest in?

### PORTFOLIO COMPOSITION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Agency securities | 78.8 |
| U.S. Treasury securities | 15.8 |
| Asset-backed securities | 4.7 |
| Non-agency mortgage-backed securities | 0.7 |

---

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

---

| | |
|:---|:---|
| U.S. Treasury Notes, 3.38%, 2-29-2028 | 8.0 |
| U.S. Treasury Notes, 3.50%, 2-15-2029 | 7.7 |
| FNMA, 3.42%, 7-1-2049 | 6.4 |
| FNMA, 1.50%, 2-1-2032 | 5.5 |
| FHLMC, 3.01%, 11-1-2048 | 4.2 |
| FNMA, 2.50%, 3-1-2035 | 4.1 |
| FNMA, 3.00%, 3-1-2040 | 3.5 |
| GNMA Series 2022-189 Class DC, 2.50%, 10-20-2051 | 3.2 |
| FHLMC Series 4710 Class PD, 2.50%, 4-15-2045 | 2.8 |
| FHLMC, 3.17%, 7-1-2050 | 2.6 |

---

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

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

#### SAR3145 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Short Duration Government Bond Fund

# February 28, 2026

# MSDRX

## Class R6
This semi-annual shareholder report contains important information about Short Duration Government Bond Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Class R6 | $19 | 0.37%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $215381039 |
| # of portfolio holdings | 62 |
| Portfolio turnover rate | 127% |
| Total advisory fees paid | $281157 |

---

## What did the Fund invest in?

### PORTFOLIO COMPOSITION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Agency securities | 78.8 |
| U.S. Treasury securities | 15.8 |
| Asset-backed securities | 4.7 |
| Non-agency mortgage-backed securities | 0.7 |

---

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

---

| | |
|:---|:---|
| U.S. Treasury Notes, 3.38%, 2-29-2028 | 8.0 |
| U.S. Treasury Notes, 3.50%, 2-15-2029 | 7.7 |
| FNMA, 3.42%, 7-1-2049 | 6.4 |
| FNMA, 1.50%, 2-1-2032 | 5.5 |
| FHLMC, 3.01%, 11-1-2048 | 4.2 |
| FNMA, 2.50%, 3-1-2035 | 4.1 |
| FNMA, 3.00%, 3-1-2040 | 3.5 |
| GNMA Series 2022-189 Class DC, 2.50%, 10-20-2051 | 3.2 |
| FHLMC Series 4710 Class PD, 2.50%, 4-15-2045 | 2.8 |
| FHLMC, 3.17%, 7-1-2050 | 2.6 |

---

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

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

#### SAR4656 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Short Duration Government Bond Fund

# February 28, 2026

# MSDAX

## Class A
This semi-annual shareholder report contains important information about Short Duration Government Bond Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Class A | $38 | 0.76%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $215381039 |
| # of portfolio holdings | 62 |
| Portfolio turnover rate | 127% |
| Total advisory fees paid | $281157 |

---

## What did the Fund invest in?

### PORTFOLIO COMPOSITION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Agency securities | 78.8 |
| U.S. Treasury securities | 15.8 |
| Asset-backed securities | 4.7 |
| Non-agency mortgage-backed securities | 0.7 |

---

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

---

| | |
|:---|:---|
| U.S. Treasury Notes, 3.38%, 2-29-2028 | 8.0 |
| U.S. Treasury Notes, 3.50%, 2-15-2029 | 7.7 |
| FNMA, 3.42%, 7-1-2049 | 6.4 |
| FNMA, 1.50%, 2-1-2032 | 5.5 |
| FHLMC, 3.01%, 11-1-2048 | 4.2 |
| FNMA, 2.50%, 3-1-2035 | 4.1 |
| FNMA, 3.00%, 3-1-2040 | 3.5 |
| GNMA Series 2022-189 Class DC, 2.50%, 10-20-2051 | 3.2 |
| FHLMC Series 4710 Class PD, 2.50%, 4-15-2045 | 2.8 |
| FHLMC, 3.17%, 7-1-2050 | 2.6 |

---

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

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

#### SAR0932 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Short-Term Bond Plus Fund

# February 28, 2026

# SSHIX

## Institutional Class
This semi-annual shareholder report contains important information about Short-Term Bond Plus Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Institutional Class | $15 | 0.29%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $750849552 |
| # of portfolio holdings | 376 |
| Portfolio turnover rate | 66% |
| Total advisory fees paid | $638896 |

---

## What did the Fund invest in?

### PORTFOLIO COMPOSITION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Corporate bonds and notes | 31.5 |
| U.S. Treasury securities | 15.4 |
| Asset-backed securities | 13.5 |
| Agency securities | 12.0 |
| Yankee corporate bonds and notes | 11.2 |
| Non-agency mortgage-backed securities | 10.6 |
| Foreign government bonds | 2.6 |
| Yankee government bonds | 1.5 |
| Foreign corporate bonds and notes | 1.3 |
| Investment companies | 0.3 |
| Municipal obligations | 0.1 |

---

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

---

| | |
|:---|:---|
| U.S. Treasury Notes, 3.50%, 2-15-2029 | 6.1 |
| U.S. Treasury Notes, 3.63%, 8-31-2027 | 4.2 |
| U.S. Treasury Notes, 3.75%, 8-15-2027 | 2.9 |
| GNMA, 5.50%, 10-20-2055 | 2.3 |
| U.S. Treasury Notes, 3.50%, 1-31-2028 | 2 |
| FNMA, 6.00%, 5-1-2055 | 1.7 |
| GNMA, 6.00%, 9-20-2055 | 1.3 |
| GNMA, 5.50%, 6-20-2054 | 1 |
| GNMA, 5.00%, 11-20-2054 | 0.8 |
| FNMA, 6.50%, 11-1-2054 | 0.7 |

---

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

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

#### SAR3102 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Short-Term Bond Plus Fund

# February 28, 2026

# SSTYX

## Class R6
This semi-annual shareholder report contains important information about Short-Term Bond Plus Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Class R6 | $12 | 0.24%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $750849552 |
| # of portfolio holdings | 376 |
| Portfolio turnover rate | 66% |
| Total advisory fees paid | $638896 |

---

## What did the Fund invest in?

### PORTFOLIO COMPOSITION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Corporate bonds and notes | 31.5 |
| U.S. Treasury securities | 15.4 |
| Asset-backed securities | 13.5 |
| Agency securities | 12.0 |
| Yankee corporate bonds and notes | 11.2 |
| Non-agency mortgage-backed securities | 10.6 |
| Foreign government bonds | 2.6 |
| Yankee government bonds | 1.5 |
| Foreign corporate bonds and notes | 1.3 |
| Investment companies | 0.3 |
| Municipal obligations | 0.1 |

---

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

---

| | |
|:---|:---|
| U.S. Treasury Notes, 3.50%, 2-15-2029 | 6.1 |
| U.S. Treasury Notes, 3.63%, 8-31-2027 | 4.2 |
| U.S. Treasury Notes, 3.75%, 8-15-2027 | 2.9 |
| GNMA, 5.50%, 10-20-2055 | 2.3 |
| U.S. Treasury Notes, 3.50%, 1-31-2028 | 2 |
| FNMA, 6.00%, 5-1-2055 | 1.7 |
| GNMA, 6.00%, 9-20-2055 | 1.3 |
| GNMA, 5.50%, 6-20-2054 | 1 |
| GNMA, 5.00%, 11-20-2054 | 0.8 |
| FNMA, 6.50%, 11-1-2054 | 0.7 |

---

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

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

#### SAR4812 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Short-Term Bond Plus Fund

# February 28, 2026

# SSTVX

## Class A
This semi-annual shareholder report contains important information about Short-Term Bond Plus Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Class A | $26 | 0.51%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $750849552 |
| # of portfolio holdings | 376 |
| Portfolio turnover rate | 66% |
| Total advisory fees paid | $638896 |

---

## What did the Fund invest in?

### PORTFOLIO COMPOSITION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Corporate bonds and notes | 31.5 |
| U.S. Treasury securities | 15.4 |
| Asset-backed securities | 13.5 |
| Agency securities | 12.0 |
| Yankee corporate bonds and notes | 11.2 |
| Non-agency mortgage-backed securities | 10.6 |
| Foreign government bonds | 2.6 |
| Yankee government bonds | 1.5 |
| Foreign corporate bonds and notes | 1.3 |
| Investment companies | 0.3 |
| Municipal obligations | 0.1 |

---

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

---

| | |
|:---|:---|
| U.S. Treasury Notes, 3.50%, 2-15-2029 | 6.1 |
| U.S. Treasury Notes, 3.63%, 8-31-2027 | 4.2 |
| U.S. Treasury Notes, 3.75%, 8-15-2027 | 2.9 |
| GNMA, 5.50%, 10-20-2055 | 2.3 |
| U.S. Treasury Notes, 3.50%, 1-31-2028 | 2 |
| FNMA, 6.00%, 5-1-2055 | 1.7 |
| GNMA, 6.00%, 9-20-2055 | 1.3 |
| GNMA, 5.50%, 6-20-2054 | 1 |
| GNMA, 5.00%, 11-20-2054 | 0.8 |
| FNMA, 6.50%, 11-1-2054 | 0.7 |

---

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

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

#### SAR3005 02-26
![Image](g132415g97v64.jpg)

# Semi-Annual Shareholder Report

# February 28, 2026

# Short-Term High Income Fund

# Institutional Class

# STYIX
This semi-annual shareholder report contains important information about Short-Term High Income Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Institutional Class | $25 | 0.50%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $2514637475 |
| # of portfolio holdings | 197 |
| Portfolio turnover rate | 24% |
| Total advisory fees paid | $4958035 |

---

## What did the Fund invest in?

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

---

| | |
|:---|:---|
| Discovery Global Holdings, Inc., 4.05%, 3-15-2029 | 1.5 |
| Venture Global LNG, Inc., 8.13%, 6-1-2028 | 1.4 |
| GEO Group, Inc., 8.63%, 4-15-2029 | 1.4 |
| Cloud Software Group, Inc., 6.50%, 3-31-2029 | 1.2 |
| Royal Caribbean Cruises Ltd., 5.38%, 7-15-2027 | 1.2 |
| Kinetik Holdings LP, 6.63%, 12-15-2028 | 1.2 |
| Churchill Downs, Inc., 5.50%, 4-1-2027 | 1.2 |
| FTAI Aviation Investors LLC, 5.50%, 5-1-2028 | 1.2 |
| Sirius XM Radio LLC, 5.00%, 8-1-2027 | 1.1 |
| Emera, Inc. Series 16-A, 6.75%, 6-15-2076 | 1.1 |

---

## Short-Term High Income Fund
Semi-Annual Shareholder Report \| February 28, 2026

## CREDIT QUALITY (% OF LONG-TERM FIXED INCOME INVESTMENTS)<sup>Footnote Reference \*</sup>

---

| | |
|:---|:---|
| AAA/Aaa | 0.2 |
| AA/Aa | 1.6 |
| BBB/Baa | 4.9 |
| BB/Ba | 66.6 |
| B/B | 26.1 |
| CCC/Caa and below | 0.2 |
| Not rated | 0.4 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;The ratings indicated are from Standard & Poor's, Fitch Ratings Ltd., and/or Moody's Investors Service. The percentage of the Fund's portfolio with the ratings depicted in the chart are calculated based on long-term fixed income investments of the Fund. If the security was rated by all three ratings agencies, the middle rating was used. If rated by two out of the three ratings agencies, the lower was used, and if rated by one of the agencies, that rating was used. Credit quality is subject to change and may have changed since the date specified. |

---

## EFFECTIVE MATURITY (% OF LONG-TERM FIXED INCOME INVESTMENTS)

---

| | |
|:---|:---|
| 0-1 year | 38.0 |
| 1-3 years | 43.4 |
| 3-5 years | 18.4 |
| 5-10 years | 0.2 |

---

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

Effective October 8, 2025, Chris Lee was no longer a portfolio manager of the Fund. As of this date, Brian Keller, CFA, was added as a portfolio manager of the Fund.

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

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

#### SAR3170 02-26
![Image](g132415g97v64.jpg)

# Semi-Annual Shareholder Report

# February 28, 2026

# Short-Term High Income Fund

# Class C

# WFHYX
This semi-annual shareholder report contains important information about Short-Term High Income Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Class C | $78 | 1.55%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $2514637475 |
| # of portfolio holdings | 197 |
| Portfolio turnover rate | 24% |
| Total advisory fees paid | $4958035 |

---

## What did the Fund invest in?

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

---

| | |
|:---|:---|
| Discovery Global Holdings, Inc., 4.05%, 3-15-2029 | 1.5 |
| Venture Global LNG, Inc., 8.13%, 6-1-2028 | 1.4 |
| GEO Group, Inc., 8.63%, 4-15-2029 | 1.4 |
| Cloud Software Group, Inc., 6.50%, 3-31-2029 | 1.2 |
| Royal Caribbean Cruises Ltd., 5.38%, 7-15-2027 | 1.2 |
| Kinetik Holdings LP, 6.63%, 12-15-2028 | 1.2 |
| Churchill Downs, Inc., 5.50%, 4-1-2027 | 1.2 |
| FTAI Aviation Investors LLC, 5.50%, 5-1-2028 | 1.2 |
| Sirius XM Radio LLC, 5.00%, 8-1-2027 | 1.1 |
| Emera, Inc. Series 16-A, 6.75%, 6-15-2076 | 1.1 |

---

## Short-Term High Income Fund
Semi-Annual Shareholder Report \| February 28, 2026

## CREDIT QUALITY (% OF LONG-TERM FIXED INCOME INVESTMENTS)<sup>Footnote Reference \*</sup>

---

| | |
|:---|:---|
| AAA/Aaa | 0.2 |
| AA/Aa | 1.6 |
| BBB/Baa | 4.9 |
| BB/Ba | 66.6 |
| B/B | 26.1 |
| CCC/Caa and below | 0.2 |
| Not rated | 0.4 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;The ratings indicated are from Standard & Poor's, Fitch Ratings Ltd., and/or Moody's Investors Service. The percentage of the Fund's portfolio with the ratings depicted in the chart are calculated based on long-term fixed income investments of the Fund. If the security was rated by all three ratings agencies, the middle rating was used. If rated by two out of the three ratings agencies, the lower was used, and if rated by one of the agencies, that rating was used. Credit quality is subject to change and may have changed since the date specified. |

---

## EFFECTIVE MATURITY (% OF LONG-TERM FIXED INCOME INVESTMENTS)

---

| | |
|:---|:---|
| 0-1 year | 38.0 |
| 1-3 years | 43.4 |
| 3-5 years | 18.4 |
| 5-10 years | 0.2 |

---

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

Effective October 8, 2025, Chris Lee was no longer a portfolio manager of the Fund. As of this date, Brian Keller, CFA, was added as a portfolio manager of the Fund.

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

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

#### SAR3541 02-26
![Image](g132415g97v64.jpg)

# Semi-Annual Shareholder Report

# February 28, 2026

# Short-Term High Income Fund

# Class A

# SSTHX
This semi-annual shareholder report contains important information about Short-Term High Income Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Class A | $40 | 0.80%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $2514637475 |
| # of portfolio holdings | 197 |
| Portfolio turnover rate | 24% |
| Total advisory fees paid | $4958035 |

---

## What did the Fund invest in?

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

---

| | |
|:---|:---|
| Discovery Global Holdings, Inc., 4.05%, 3-15-2029 | 1.5 |
| Venture Global LNG, Inc., 8.13%, 6-1-2028 | 1.4 |
| GEO Group, Inc., 8.63%, 4-15-2029 | 1.4 |
| Cloud Software Group, Inc., 6.50%, 3-31-2029 | 1.2 |
| Royal Caribbean Cruises Ltd., 5.38%, 7-15-2027 | 1.2 |
| Kinetik Holdings LP, 6.63%, 12-15-2028 | 1.2 |
| Churchill Downs, Inc., 5.50%, 4-1-2027 | 1.2 |
| FTAI Aviation Investors LLC, 5.50%, 5-1-2028 | 1.2 |
| Sirius XM Radio LLC, 5.00%, 8-1-2027 | 1.1 |
| Emera, Inc. Series 16-A, 6.75%, 6-15-2076 | 1.1 |

---

## Short-Term High Income Fund
Semi-Annual Shareholder Report \| February 28, 2026

## CREDIT QUALITY (% OF LONG-TERM FIXED INCOME INVESTMENTS)<sup>Footnote Reference \*</sup>

---

| | |
|:---|:---|
| AAA/Aaa | 0.2 |
| AA/Aa | 1.6 |
| BBB/Baa | 4.9 |
| BB/Ba | 66.6 |
| B/B | 26.1 |
| CCC/Caa and below | 0.2 |
| Not rated | 0.4 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;The ratings indicated are from Standard & Poor's, Fitch Ratings Ltd., and/or Moody's Investors Service. The percentage of the Fund's portfolio with the ratings depicted in the chart are calculated based on long-term fixed income investments of the Fund. If the security was rated by all three ratings agencies, the middle rating was used. If rated by two out of the three ratings agencies, the lower was used, and if rated by one of the agencies, that rating was used. Credit quality is subject to change and may have changed since the date specified. |

---

## EFFECTIVE MATURITY (% OF LONG-TERM FIXED INCOME INVESTMENTS)

---

| | |
|:---|:---|
| 0-1 year | 38.0 |
| 1-3 years | 43.4 |
| 3-5 years | 18.4 |
| 5-10 years | 0.2 |

---

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

Effective October 8, 2025, Chris Lee was no longer a portfolio manager of the Fund. As of this date, Brian Keller, CFA, was added as a portfolio manager of the Fund.

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

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

#### SAR3017 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Ultra Short-Term Income Fund

# February 28, 2026

# SADIX

## Institutional Class
This semi-annual shareholder report contains important information about Ultra Short-Term Income Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Institutional Class | $13 | 0.25%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $1818206278 |
| # of portfolio holdings | 702 |
| Portfolio turnover rate | 26% |
| Total advisory fees paid | $1102533 |

---

## What did the Fund invest in?

### PORTFOLIO COMPOSITION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Corporate bonds and notes | 33.7 |
| Asset-backed securities | 26.5 |
| Investment companies | 9.8 |
| Non-agency mortgage-backed securities | 9.0 |
| U.S. Treasury securities | 8.1 |
| Yankee corporate bonds and notes | 8.0 |
| Agency securities | 4.2 |
| Yankee government bonds | 0.6 |
| Municipal obligations | 0.1 |

---

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

---

| | |
|:---|:---|
| U.S. Treasury Notes, 3.75%, 8-31-2026 | 5.3 |
| JPMorgan Limited Duration Bond ETF | 2.5 |
| Vanguard Ultra Short Bond ETF | 2.5 |
| U.S. Treasury Notes, 4.50%, 7-15-2026 | 1.9 |
| State Street SPDR Portfolio Short Term Corporate Bond ETF | 1.7 |
| Vanguard Short-Term Corporate Bond ETF | 1.1 |
| Centerpoint Energy Restoration Bond Co. III LLC Series A-1, 3.90%, 12-15-2031 | 1.1 |
| iShares 0-5 Year High Yield Corporate Bond ETF | 1 |
| Santander Drive Auto Receivables Trust Series 2026-1 Class B, 4.07%, 4-15-2032 | 0.9 |
| OneMain Financial Issuance Trust Series 2021-1A Class A1, 1.55%, 6-16-2036 | 0.7 |

---

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

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

#### SAR3104 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Ultra Short-Term Income Fund

# February 28, 2026

# WUSNX

## Class A2
This semi-annual shareholder report contains important information about Ultra Short-Term Income Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Class A2 | $20 | 0.40%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $1818206278 |
| # of portfolio holdings | 702 |
| Portfolio turnover rate | 26% |
| Total advisory fees paid | $1102533 |

---

## What did the Fund invest in?

### PORTFOLIO COMPOSITION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Corporate bonds and notes | 33.7 |
| Asset-backed securities | 26.5 |
| Investment companies | 9.8 |
| Non-agency mortgage-backed securities | 9.0 |
| U.S. Treasury securities | 8.1 |
| Yankee corporate bonds and notes | 8.0 |
| Agency securities | 4.2 |
| Yankee government bonds | 0.6 |
| Municipal obligations | 0.1 |

---

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

---

| | |
|:---|:---|
| U.S. Treasury Notes, 3.75%, 8-31-2026 | 5.3 |
| JPMorgan Limited Duration Bond ETF | 2.5 |
| Vanguard Ultra Short Bond ETF | 2.5 |
| U.S. Treasury Notes, 4.50%, 7-15-2026 | 1.9 |
| State Street SPDR Portfolio Short Term Corporate Bond ETF | 1.7 |
| Vanguard Short-Term Corporate Bond ETF | 1.1 |
| Centerpoint Energy Restoration Bond Co. III LLC Series A-1, 3.90%, 12-15-2031 | 1.1 |
| iShares 0-5 Year High Yield Corporate Bond ETF | 1 |
| Santander Drive Auto Receivables Trust Series 2026-1 Class B, 4.07%, 4-15-2032 | 0.9 |
| OneMain Financial Issuance Trust Series 2021-1A Class A1, 1.55%, 6-16-2036 | 0.7 |

---

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

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

#### SAR5101 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Ultra Short-Term Income Fund

# February 28, 2026

# SADAX

## Class A
This semi-annual shareholder report contains important information about Ultra Short-Term Income Fund for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-800-222-8222.

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Class A | $22 | 0.44%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to waive fees and/or reimburse certain expenses to the extent necessary to cap the Fund's total annual fund operating expense ratio at a specific amount. Without this cap, the costs shown above may have been higher. Please see the prospectus for the amount and the expiration date of the cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $1818206278 |
| # of portfolio holdings | 702 |
| Portfolio turnover rate | 26% |
| Total advisory fees paid | $1102533 |

---

## What did the Fund invest in?

### PORTFOLIO COMPOSITION (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| Corporate bonds and notes | 33.7 |
| Asset-backed securities | 26.5 |
| Investment companies | 9.8 |
| Non-agency mortgage-backed securities | 9.0 |
| U.S. Treasury securities | 8.1 |
| Yankee corporate bonds and notes | 8.0 |
| Agency securities | 4.2 |
| Yankee government bonds | 0.6 |
| Municipal obligations | 0.1 |

---

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

---

| | |
|:---|:---|
| U.S. Treasury Notes, 3.75%, 8-31-2026 | 5.3 |
| JPMorgan Limited Duration Bond ETF | 2.5 |
| Vanguard Ultra Short Bond ETF | 2.5 |
| U.S. Treasury Notes, 4.50%, 7-15-2026 | 1.9 |
| State Street SPDR Portfolio Short Term Corporate Bond ETF | 1.7 |
| Vanguard Short-Term Corporate Bond ETF | 1.1 |
| Centerpoint Energy Restoration Bond Co. III LLC Series A-1, 3.90%, 12-15-2031 | 1.1 |
| iShares 0-5 Year High Yield Corporate Bond ETF | 1 |
| Santander Drive Auto Receivables Trust Series 2026-1 Class B, 4.07%, 4-15-2032 | 0.9 |
| OneMain Financial Issuance Trust Series 2021-1A Class A1, 1.55%, 6-16-2036 | 0.7 |

---

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

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

#### SAR3006 02-26
![Image](g132415g97v64.jpg)

Semi-Annual Shareholder Report

# Managed Account CoreBuilder<sup>®</sup> Shares - Series CP

# February 28, 2026

# WFCPX
This semi-annual shareholder report contains important information about Managed Account CoreBuilder<sup>®</sup> Shares - Series CP for the period from September 1, 2025 to February 28, 2026. You can find additional information about the Fund at allspringglobal.com. You can also request this information by contacting us at 1-866-701-2575.

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

---

| | | |
|:---|:---|:---|
| CLASS NAME | COSTS OF A $10,000 INVESTMENT | COSTS PAID AS A % OF A $10,000 INVESTMENT |
| Managed Account CoreBuilder<sup>®</sup> Shares - Series CP | $0 | 0.00%<sup>Footnote Reference1</sup> |

---

---

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

---

The manager has contractually committed to irrevocably absorb and pay or reimburse all ordinary operating expenses of the Fund. This commitment has an indefinite term. Without this commitment, the costs shown above would have been higher. See the prospectus for expenses excluded from this commitment.

## KEY FUND STATISTICS

---

| | |
|:---|:---|
| Total net assets | $1139158711 |
| # of portfolio holdings | 570 |
| Portfolio turnover rate | 138% |
| Total advisory fees paid | $0 |

---

## What did the Fund invest in?

### CREDIT QUALITY (% OF LONG-TERM FIXED INCOME INVESTMENTS)<sup>Footnote Reference \*</sup>

---

| | |
|:---|:---|
| AAA/Aaa | 12.6 |
| AA/Aa | 31.2 |
| A/A | 16.2 |
| BBB/Baa | 19.1 |
| BB/Ba | 12.2 |
| B/B | 2.5 |
| CCC/Caa and below | 0.2 |
| Not rated | 6.0 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;The ratings indicated are from Standard & Poor's, Fitch Ratings Ltd., and/or Moody's Investors Service. The percentage of the Fund's portfolio with the ratings depicted in the chart are calculated based on long-term fixed income investments of the Fund. If the security was rated by all three ratings agencies, the middle rating was used. If rated by two out of the three ratings agencies, the lower was used, and if rated by one of the agencies, that rating was used. Credit quality is subject to change and may have changed since the date specified. |

---

### EFFECTIVE MATURITY (% OF LONG-TERM INVESTMENTS)

---

| | |
|:---|:---|
| 0-1 year | 5.0 |
| 1-3 years | 28.9 |
| 3-5 years | 34.4 |
| 5-10 years | 17.0 |
| 10-20 years | 7.3 |
| 20-30 years | 6.6 |
| 30+ years | 0.8 |

---

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

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

#### SAR4903 02-26

------

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

Not applicable.

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

Not applicable.

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

Not applicable.

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

Not applicable.

<u>ITEM 6. INVESTMENTS</u> 

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

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

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

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

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

------

![](g132415img8d4ba8681.jpg)

Allspring Core Plus Bond Fund

Long Form Financial Statements

Semi-Annual Report

February 28, 2026

------

Contents

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

---

| | |
|:---|:---|
| **[Portfolio of investments](#xx_4c69245b-e39b-42aa-a24d-79c359dcda99_POI-PageBlank-97_1)** | 2 |
| **[Item 7. Financial statements and financial highlights](#xx_4c69245b-e39b-42aa-a24d-79c359dcda99_FS-PageBlank-97_1)** |  |
| [Statement of assets and liabilities](#xx_4c69245b-e39b-42aa-a24d-79c359dcda99_FS-PageBlank-97_1) | 36 |
| [Statement of operations](#xx_4c69245b-e39b-42aa-a24d-79c359dcda99_FS-PageBlank-97_3) | 38 |
| [Statement of changes in net assets](#xx_4c69245b-e39b-42aa-a24d-79c359dcda99_FS-PageBlank-97_5) | 40 |
| [Financial highlights](#xx_4c69245b-e39b-42aa-a24d-79c359dcda99_FIHI-PageBlank-97_1) | 41 |
| **[Notes to financial statements](#xx_4c69245b-e39b-42aa-a24d-79c359dcda99_NTF-PageBlank-97_1)** | 46 |
| **[Other information](#xx_4c69245b-e39b-42aa-a24d-79c359dcda99_OI-PageBlank-97_1)** | 55 |
| [Item 8. Changes in and disagreements with accountants](#xx_4c69245b-e39b-42aa-a24d-79c359dcda99_OI-PageBlank-97_2) | 56 |
| [Item 9. Matters submitted to fund shareholders for a vote](#xx_4c69245b-e39b-42aa-a24d-79c359dcda99_OI-PageBlank-97_2) | 56 |
| [Item 10. Remuneration paid to directors, officers and others](#xx_4c69245b-e39b-42aa-a24d-79c359dcda99_OI-PageBlank-97_2) | 56 |
| [Item 11. Statement regarding basis for board](#xx_4c69245b-e39b-42aa-a24d-79c359dcda99_OI-PageBlank-97_2)['](#xx_4c69245b-e39b-42aa-a24d-79c359dcda99_OI-PageBlank-97_2)[s approval of investment](#xx_4c69245b-e39b-42aa-a24d-79c359dcda99_OI-PageBlank-97_2)<br> [advisory contract](#xx_4c69245b-e39b-42aa-a24d-79c359dcda99_OI-PageBlank-97_2)<br>| 56 |

---

Allspring Core Plus Bond Fund \| 1

------

Portfolio of investments—February 28, 2026 (unaudited)

Portfolio of investments

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest <br>rate<br>| Maturity <br>date<br>| Principal | Value |
| **Agency securities: 28.42%** |  |  |  |  |
| FHLMC | 2.00<br> %<br>| &nbsp;&nbsp; 10-1-2051 | $38008780 | &nbsp;&nbsp; $31647693 |
| FHLMC | 2.00 | &nbsp;&nbsp; 1-1-2052 | 34117678 | &nbsp;&nbsp; 28375875 |
| FHLMC | 2.00 | &nbsp;&nbsp; 3-1-2052 | 23130568 | &nbsp;&nbsp; 19244780 |
| FHLMC | 2.00 | &nbsp;&nbsp; 6-1-2052 | 7607343 | &nbsp;&nbsp; 6319948 |
| FHLMC | 2.50 | &nbsp;&nbsp; 8-1-2037 | 4167663 | &nbsp;&nbsp; 3974543 |
| FHLMC | 2.50 | &nbsp;&nbsp; 9-1-2050 | 8942857 | &nbsp;&nbsp; 7766956 |
| FHLMC | 2.50 | &nbsp;&nbsp; 12-1-2050 | 24251051 | &nbsp;&nbsp; 21076839 |
| FHLMC | 2.50 | &nbsp;&nbsp; 6-1-2051 | 99492797 | &nbsp;&nbsp; 86409975 |
| FHLMC | 2.50 | &nbsp;&nbsp; 11-1-2051 | 8414499 | &nbsp;&nbsp; 7437424 |
| FHLMC | 2.50 | &nbsp;&nbsp; 4-1-2052 | 26709847 | &nbsp;&nbsp; 23287597 |
| FHLMC | 3.00 | &nbsp;&nbsp; 9-1-2034 | 206094 | &nbsp;&nbsp; 201057 |
| FHLMC | 3.00 | &nbsp;&nbsp; 6-1-2050 | 422142 | &nbsp;&nbsp; 389132 |
| FHLMC | 3.00 | &nbsp;&nbsp; 7-1-2050 | 1323917 | &nbsp;&nbsp; 1220426 |
| FHLMC | 3.00 | &nbsp;&nbsp; 8-1-2050 | 1818388 | &nbsp;&nbsp; 1665290 |
| FHLMC | 3.00 | &nbsp;&nbsp; 11-1-2050 | 23639471 | &nbsp;&nbsp; 21485314 |
| FHLMC | 3.00 | &nbsp;&nbsp; 3-1-2052 | 211978 | &nbsp;&nbsp; 193413 |
| FHLMC | 3.00 | &nbsp;&nbsp; 5-1-2052 | 17513932 | &nbsp;&nbsp; 15939914 |
| FHLMC | 3.00 | &nbsp;&nbsp; 6-1-2052 | 448620 | &nbsp;&nbsp; 406601 |
| FHLMC | 3.00 | &nbsp;&nbsp; 6-1-2053 | 14701024 | &nbsp;&nbsp; 13346007 |
| FHLMC | 3.50 | &nbsp;&nbsp; 7-1-2038 | 10820763 | &nbsp;&nbsp; 10589349 |
| FHLMC | 3.50 | &nbsp;&nbsp; 12-1-2045 | 780040 | &nbsp;&nbsp; 752158 |
| FHLMC | 3.50 | &nbsp;&nbsp; 5-1-2052 | 84897 | &nbsp;&nbsp; 80313 |
| FHLMC | 3.50 | &nbsp;&nbsp; 12-1-2052 | 7091658 | &nbsp;&nbsp; 6686655 |
| FHLMC | 4.00 | &nbsp;&nbsp; 6-1-2037 | 2029771 | &nbsp;&nbsp; 2013307 |
| FHLMC | 4.00 | &nbsp;&nbsp; 4-1-2038 | 11710987 | &nbsp;&nbsp; 11622438 |
| FHLMC | 4.00 | &nbsp;&nbsp; 6-1-2044 | 467762 | &nbsp;&nbsp; 463347 |
| FHLMC | 4.00 | &nbsp;&nbsp; 5-1-2049 | 816056 | &nbsp;&nbsp; 804520 |
| FHLMC | 4.00 | &nbsp;&nbsp; 6-1-2052 | 4903466 | &nbsp;&nbsp; 4789069 |
| FHLMC | 4.00 | &nbsp;&nbsp; 8-1-2052 | 6810287 | &nbsp;&nbsp; 6638939 |
| FHLMC | 4.00 | &nbsp;&nbsp; 11-1-2053 | 18596595 | &nbsp;&nbsp; 18102221 |
| FHLMC | 4.00 | &nbsp;&nbsp; 5-1-2054 | 13079362 | &nbsp;&nbsp; 12718136 |
| FHLMC | 4.50 | &nbsp;&nbsp; 5-1-2053 | 11921659 | &nbsp;&nbsp; 11871040 |
| FHLMC | 5.00 | &nbsp;&nbsp; 6-1-2036 | 56967 | &nbsp;&nbsp; 58617 |
| FHLMC | 5.00 | &nbsp;&nbsp; 8-1-2040 | 59141 | &nbsp;&nbsp; 60970 |
| FHLMC | 5.00 | &nbsp;&nbsp; 7-1-2052 | 17188497 | &nbsp;&nbsp; 17507191 |
| FHLMC | 5.00 | &nbsp;&nbsp; 11-1-2052 | 15357613 | &nbsp;&nbsp; 15499136 |
| FHLMC | 5.00 | &nbsp;&nbsp; 5-1-2053 | 10831432 | &nbsp;&nbsp; 10961928 |
| FHLMC | 5.00 | &nbsp;&nbsp; 12-1-2053 | 10383163 | &nbsp;&nbsp; 10516188 |
| FHLMC | 5.00 | &nbsp;&nbsp; 12-1-2054 | 17205930 | &nbsp;&nbsp; 17300264 |
| FHLMC | 5.50 | &nbsp;&nbsp; 8-1-2038 | 15569 | &nbsp;&nbsp; 16220 |
| FHLMC | 5.50 | &nbsp;&nbsp; 12-1-2038 | 121802 | &nbsp;&nbsp; 126888 |
| FHLMC | 5.50 | &nbsp;&nbsp; 6-1-2040 | 227131 | &nbsp;&nbsp; 236079 |
| FHLMC | 5.50 | &nbsp;&nbsp; 11-1-2052 | 89717 | &nbsp;&nbsp; 91651 |
| FHLMC | 5.50 | &nbsp;&nbsp; 3-1-2053 | 61220584 | &nbsp;&nbsp; 62529711 |
| FHLMC | 5.50 | &nbsp;&nbsp; 9-1-2053 | 18945546 | &nbsp;&nbsp; 19420942 |
| FHLMC | 5.50 | &nbsp;&nbsp; 1-1-2054 | 53789011 | &nbsp;&nbsp; 54762559 |
| FHLMC | 5.50 | &nbsp;&nbsp; 2-1-2055 | 16347301 | &nbsp;&nbsp; 16618230 |
| FHLMC | 5.50 | &nbsp;&nbsp; 9-1-2055 | 50842744 | &nbsp;&nbsp; 51685432 |

---

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

2 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| FHLMC | 6.00<br> %<br>| &nbsp;&nbsp; 5-1-2054 | $26712840 | &nbsp;&nbsp; $27403053 |
| FHLMC | 6.00 | &nbsp;&nbsp; 9-1-2054 | 10919341 | &nbsp;&nbsp; 11209582 |
| FHLMC | 6.50 | &nbsp;&nbsp; 7-1-2055 | 43685151 | &nbsp;&nbsp; 45363008 |
| FHLMC | 6.50 | &nbsp;&nbsp; 9-1-2055 | 16834859 | &nbsp;&nbsp; 17483181 |
| FHLMC | 8.00 | &nbsp;&nbsp; 2-1-2030 | 20 | &nbsp;&nbsp; 20 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates <br> Series T-42 Class A5<br>| 7.50 | &nbsp;&nbsp; 2-25-2042 | 686234 | &nbsp;&nbsp; 748787 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates <br> Series T-57 Class 2A1±±<br>| 4.88 | &nbsp;&nbsp; 7-25-2043 | 21280 | &nbsp;&nbsp; 20980 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates <br> Series T-59 Class 2A1±±<br>| 4.23 | &nbsp;&nbsp; 10-25-2043 | 92678 | &nbsp;&nbsp; 79658 |
| &nbsp;&nbsp; FHLMC Whole Loan Securities Trust Series 2015-SC01 <br> Class 1A<br>| 3.50 | &nbsp;&nbsp; 5-25-2045 | 89593 | &nbsp;&nbsp; 82259 |
| FHLMC (RFUCCT1Y+1.33%)± | 5.58 | &nbsp;&nbsp; 1-1-2036 | 2085 | &nbsp;&nbsp; 2121 |
| FNMA | 2.00 | &nbsp;&nbsp; 4-1-2051 | 21191451 | &nbsp;&nbsp; 17566206 |
| FNMA | 2.00 | &nbsp;&nbsp; 5-1-2051 | 66552593 | &nbsp;&nbsp; 55518820 |
| FNMA | 2.00 | &nbsp;&nbsp; 8-1-2051 | 10061593 | &nbsp;&nbsp; 8384016 |
| FNMA | 2.00 | &nbsp;&nbsp; 10-1-2051 | 114270636 | &nbsp;&nbsp; 95111642 |
| FNMA | 2.00 | &nbsp;&nbsp; 12-1-2051 | 9081276 | &nbsp;&nbsp; 7553006 |
| FNMA | 2.00 | &nbsp;&nbsp; 1-1-2052 | 21717777 | &nbsp;&nbsp; 18006655 |
| FNMA | 2.00 | &nbsp;&nbsp; 2-1-2052 | 30638738 | &nbsp;&nbsp; 25501819 |
| FNMA | 2.00 | &nbsp;&nbsp; 6-1-2052 | 2506606 | &nbsp;&nbsp; 2083210 |
| FNMA | 2.50 | &nbsp;&nbsp; 12-1-2050 | 16863833 | &nbsp;&nbsp; 14665506 |
| FNMA | 2.50 | &nbsp;&nbsp; 12-1-2051 | 31989705 | &nbsp;&nbsp; 27772198 |
| FNMA | 2.50 | &nbsp;&nbsp; 1-1-2052 | 9149389 | &nbsp;&nbsp; 7960080 |
| FNMA | 2.50 | &nbsp;&nbsp; 2-1-2052 | 15272713 | &nbsp;&nbsp; 13259122 |
| FNMA | 3.00 | &nbsp;&nbsp; 11-1-2045 | 419403 | &nbsp;&nbsp; 390548 |
| FNMA | 3.00 | &nbsp;&nbsp; 12-1-2045 | 1065416 | &nbsp;&nbsp; 992888 |
| FNMA | 3.00 | &nbsp;&nbsp; 12-1-2046 | 582903 | &nbsp;&nbsp; 538536 |
| FNMA | 3.00 | &nbsp;&nbsp; 8-1-2050 | 1524363 | &nbsp;&nbsp; 1390971 |
| FNMA | 3.00 | &nbsp;&nbsp; 10-1-2051 | 18822081 | &nbsp;&nbsp; 17156539 |
| FNMA | 3.00 | &nbsp;&nbsp; 11-1-2051 | 31561428 | &nbsp;&nbsp; 28797511 |
| FNMA | 3.00 | &nbsp;&nbsp; 1-1-2052 | 6874199 | &nbsp;&nbsp; 6224311 |
| FNMA | 3.00 | &nbsp;&nbsp; 2-1-2052 | 6428798 | &nbsp;&nbsp; 5856246 |
| FNMA | 3.00 | &nbsp;&nbsp; 6-1-2052 | 18345689 | &nbsp;&nbsp; 16625770 |
| FNMA | 3.00 | &nbsp;&nbsp; 8-1-2052 | 20373616 | &nbsp;&nbsp; 18460156 |
| FNMA%% | 3.00 | &nbsp;&nbsp; 3-12-2056 | 10650000 | &nbsp;&nbsp; 9629603 |
| FNMA | 3.48 | &nbsp;&nbsp; 3-1-2029 | 884386 | &nbsp;&nbsp; 880430 |
| FNMA | 3.50 | &nbsp;&nbsp; 12-1-2037 | 11789728 | &nbsp;&nbsp; 11536255 |
| FNMA | 3.50 | &nbsp;&nbsp; 10-1-2043 | 435613 | &nbsp;&nbsp; 420398 |
| FNMA | 3.50 | &nbsp;&nbsp; 4-1-2045 | 61035 | &nbsp;&nbsp; 58877 |
| FNMA | 3.50 | &nbsp;&nbsp; 8-1-2045 | 928270 | &nbsp;&nbsp; 895447 |
| FNMA | 3.50 | &nbsp;&nbsp; 3-1-2048 | 1985665 | &nbsp;&nbsp; 1894518 |
| FNMA | 3.50 | &nbsp;&nbsp; 5-1-2052 | 9037963 | &nbsp;&nbsp; 8527619 |
| FNMA | 3.50 | &nbsp;&nbsp; 6-1-2052 | 63559047 | &nbsp;&nbsp; 60033369 |
| FNMA | 3.50 | &nbsp;&nbsp; 8-1-2052 | 13569925 | &nbsp;&nbsp; 12811394 |
| FNMA | 3.50 | &nbsp;&nbsp; 9-1-2052 | 18845997 | &nbsp;&nbsp; 17784571 |
| FNMA%% | 3.50 | &nbsp;&nbsp; 3-12-2056 | 50880000 | &nbsp;&nbsp; 47943229 |

---

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

Allspring Core Plus Bond Fund \| 3

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| FNMA | 3.62<br> %<br>| &nbsp;&nbsp; 3-1-2029 | $417478 | &nbsp;&nbsp; $416888 |
| FNMA | 4.00 | &nbsp;&nbsp; 8-1-2037 | 4145411 | &nbsp;&nbsp; 4116680 |
| FNMA | 4.00 | &nbsp;&nbsp; 9-1-2037 | 3954555 | &nbsp;&nbsp; 3927146 |
| FNMA | 4.00 | &nbsp;&nbsp; 1-1-2038 | 3666776 | &nbsp;&nbsp; 3639194 |
| FNMA | 4.00 | &nbsp;&nbsp; 11-1-2039 | 6597564 | &nbsp;&nbsp; 6545678 |
| FNMA | 4.00 | &nbsp;&nbsp; 2-1-2046 | 110315 | &nbsp;&nbsp; 109070 |
| FNMA | 4.00 | &nbsp;&nbsp; 4-1-2046 | 641493 | &nbsp;&nbsp; 634515 |
| FNMA | 4.00 | &nbsp;&nbsp; 6-1-2048 | 661138 | &nbsp;&nbsp; 647781 |
| FNMA | 4.00 | &nbsp;&nbsp; 2-1-2050 | 889485 | &nbsp;&nbsp; 875580 |
| FNMA | 4.00 | &nbsp;&nbsp; 10-1-2052 | 43977887 | &nbsp;&nbsp; 42787624 |
| FNMA | 4.00 | &nbsp;&nbsp; 6-1-2053 | 22838916 | &nbsp;&nbsp; 22281308 |
| FNMA | 4.00 | &nbsp;&nbsp; 9-1-2053 | 11473830 | &nbsp;&nbsp; 11171179 |
| FNMA | 4.50 | &nbsp;&nbsp; 11-1-2048 | 595539 | &nbsp;&nbsp; 598203 |
| FNMA | 4.50 | &nbsp;&nbsp; 6-1-2052 | 36401440 | &nbsp;&nbsp; 36161214 |
| FNMA | 4.50 | &nbsp;&nbsp; 9-1-2052 | 32060606 | &nbsp;&nbsp; 31892087 |
| FNMA | 4.50 | &nbsp;&nbsp; 4-1-2053 | 29439369 | &nbsp;&nbsp; 29310010 |
| FNMA | 5.00 | &nbsp;&nbsp; 2-1-2036 | 6378 | &nbsp;&nbsp; 6555 |
| FNMA | 5.00 | &nbsp;&nbsp; 6-1-2040 | 17699 | &nbsp;&nbsp; 18226 |
| FNMA | 5.00 | &nbsp;&nbsp; 8-1-2040 | 460784 | &nbsp;&nbsp; 471592 |
| FNMA | 5.00 | &nbsp;&nbsp; 3-1-2053 | 5443883 | &nbsp;&nbsp; 5503619 |
| FNMA | 5.00 | &nbsp;&nbsp; 11-1-2054 | 28470616 | &nbsp;&nbsp; 28627440 |
| FNMA | 5.00 | &nbsp;&nbsp; 11-1-2055 | 23835489 | &nbsp;&nbsp; 23964964 |
| FNMA%% | 5.00 | &nbsp;&nbsp; 3-15-2056 | 12710000 | &nbsp;&nbsp; 12767010 |
| FNMA | 5.50 | &nbsp;&nbsp; 8-1-2034 | 23761 | &nbsp;&nbsp; 24513 |
| FNMA | 5.50 | &nbsp;&nbsp; 2-1-2035 | 6985 | &nbsp;&nbsp; 7220 |
| FNMA | 5.50 | &nbsp;&nbsp; 8-1-2038 | 149604 | &nbsp;&nbsp; 153497 |
| FNMA | 5.50 | &nbsp;&nbsp; 2-1-2053 | 34366861 | &nbsp;&nbsp; 35093446 |
| FNMA | 5.50 | &nbsp;&nbsp; 6-1-2053 | 10512578 | &nbsp;&nbsp; 10770578 |
| FNMA | 5.50 | &nbsp;&nbsp; 1-1-2054 | 13373847 | &nbsp;&nbsp; 13622034 |
| FNMA | 5.50 | &nbsp;&nbsp; 12-1-2054 | 18530039 | &nbsp;&nbsp; 18839029 |
| FNMA | 5.50 | &nbsp;&nbsp; 1-1-2055 | 81463423 | &nbsp;&nbsp; 82817692 |
| FNMA | 5.50 | &nbsp;&nbsp; 1-1-2056 | 15582442 | &nbsp;&nbsp; 15844296 |
| FNMA%% | 5.50 | &nbsp;&nbsp; 3-12-2056 | 10600000 | &nbsp;&nbsp; 10769948 |
| FNMA | 6.00 | &nbsp;&nbsp; 10-1-2037 | 153692 | &nbsp;&nbsp; 162468 |
| FNMA | 6.00 | &nbsp;&nbsp; 11-1-2037 | 8815 | &nbsp;&nbsp; 9291 |
| FNMA | 6.00 | &nbsp;&nbsp; 6-1-2054 | 11999535 | &nbsp;&nbsp; 12445270 |
| FNMA%% | 6.00 | &nbsp;&nbsp; 3-15-2055 | 37955000 | &nbsp;&nbsp; 38929998 |
| FNMA | 6.00 | &nbsp;&nbsp; 5-1-2055 | 144348033 | &nbsp;&nbsp; 148078091 |
| FNMA | 6.00 | &nbsp;&nbsp; 9-1-2055 | 17411813 | &nbsp;&nbsp; 17866970 |
| FNMA | 6.50 | &nbsp;&nbsp; 7-1-2036 | 6774 | &nbsp;&nbsp; 7165 |
| FNMA | 6.50 | &nbsp;&nbsp; 11-1-2036 | 1002 | &nbsp;&nbsp; 1054 |
| FNMA | 6.50 | &nbsp;&nbsp; 11-1-2054 | 50285862 | &nbsp;&nbsp; 52221700 |
| FNMA | 6.50 | &nbsp;&nbsp; 9-1-2055 | 17249979 | &nbsp;&nbsp; 17908918 |
| FNMA | 7.00 | &nbsp;&nbsp; 7-1-2036 | 4186 | &nbsp;&nbsp; 4386 |
| FNMA | 7.00 | &nbsp;&nbsp; 11-1-2037 | 2426 | &nbsp;&nbsp; 2512 |
| FNMA (1 Year Treasury Constant Maturity+2.24%)± | 6.09 | &nbsp;&nbsp; 11-1-2038 | 6687 | &nbsp;&nbsp; 6996 |
| FNMA (1 Year Treasury Constant Maturity+2.29%)± | 6.27 | &nbsp;&nbsp; 8-1-2036 | 128676 | &nbsp;&nbsp; 134071 |
| FNMA (RFUCCT1Y+1.61%)± | 6.16 | &nbsp;&nbsp; 3-1-2046 | 123733 | &nbsp;&nbsp; 128427 |

---

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

4 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| FNMA (RFUCCT1Y+1.61%)± | 6.61<br> %<br>| &nbsp;&nbsp; 5-1-2046 | $134386 | &nbsp;&nbsp; $139596 |
| FNMA (RFUCCT1Y+1.73%)± | 6.48 | &nbsp;&nbsp; 9-1-2036 | 2805 | &nbsp;&nbsp; 2896 |
| FNMA (RFUCCT1Y+1.81%)± | 6.52 | &nbsp;&nbsp; 8-1-2036 | 12158 | &nbsp;&nbsp; 12621 |
| FNMA Series 2002-T12 Class A3 | 7.50 | &nbsp;&nbsp; 5-25-2042 | 2927 | &nbsp;&nbsp; 3141 |
| FNMA Series 2003-W14 Class 2A±± | 4.99 | &nbsp;&nbsp; 1-25-2043 | 82497 | &nbsp;&nbsp; 81148 |
| FNMA Series 2003-W8 Class 4A±± | 4.97 | &nbsp;&nbsp; 11-25-2042 | 41159 | &nbsp;&nbsp; 41791 |
| FNMA Series 2004-W11 Class 1A3 | 7.00 | &nbsp;&nbsp; 5-25-2044 | 473735 | &nbsp;&nbsp; 482822 |
| FNMA Series 2004-W15 Class 1A3 | 7.00 | &nbsp;&nbsp; 8-25-2044 | 102366 | &nbsp;&nbsp; 107562 |
| FNMA Series 2005-W4 Class 3A±± | 5.62 | &nbsp;&nbsp; 6-25-2045 | 17555 | &nbsp;&nbsp; 17959 |
| GNMA | 2.00 | &nbsp;&nbsp; 1-20-2052 | 12491214 | &nbsp;&nbsp; 10584069 |
| GNMA | 2.00 | &nbsp;&nbsp; 3-20-2052 | 28725211 | &nbsp;&nbsp; 24339350 |
| GNMA | 2.50 | &nbsp;&nbsp; 8-20-2051 | 69598553 | &nbsp;&nbsp; 61457725 |
| GNMA | 2.50 | &nbsp;&nbsp; 9-20-2051 | 15782816 | &nbsp;&nbsp; 13936682 |
| GNMA | 2.50 | &nbsp;&nbsp; 12-20-2051 | 10623142 | &nbsp;&nbsp; 9380493 |
| GNMA | 2.50 | &nbsp;&nbsp; 1-20-2052 | 17391286 | &nbsp;&nbsp; 15356968 |
| GNMA | 2.50 | &nbsp;&nbsp; 3-20-2052 | 12514804 | &nbsp;&nbsp; 11050878 |
| GNMA | 2.50 | &nbsp;&nbsp; 4-20-2052 | 17016601 | &nbsp;&nbsp; 15026067 |
| GNMA | 2.50 | &nbsp;&nbsp; 5-20-2052 | 27531482 | &nbsp;&nbsp; 24310949 |
| GNMA | 3.00 | &nbsp;&nbsp; 11-20-2045 | 865787 | &nbsp;&nbsp; 806654 |
| GNMA | 3.00 | &nbsp;&nbsp; 4-20-2051 | 3920815 | &nbsp;&nbsp; 3602384 |
| GNMA | 3.00 | &nbsp;&nbsp; 3-20-2052 | 344895 | &nbsp;&nbsp; 316525 |
| GNMA | 3.00 | &nbsp;&nbsp; 4-20-2052 | 9275070 | &nbsp;&nbsp; 8513455 |
| GNMA | 3.00 | &nbsp;&nbsp; 5-20-2052 | 54246541 | &nbsp;&nbsp; 49791896 |
| GNMA | 3.00 | &nbsp;&nbsp; 6-20-2052 | 4909103 | &nbsp;&nbsp; 4505288 |
| GNMA | 3.50 | &nbsp;&nbsp; 9-20-2047 | 483403 | &nbsp;&nbsp; 464018 |
| GNMA | 3.50 | &nbsp;&nbsp; 12-20-2047 | 1038085 | &nbsp;&nbsp; 995491 |
| GNMA | 3.50 | &nbsp;&nbsp; 4-20-2052 | 12224172 | &nbsp;&nbsp; 11582697 |
| GNMA | 3.50 | &nbsp;&nbsp; 5-20-2052 | 4540168 | &nbsp;&nbsp; 4314524 |
| GNMA | 3.50 | &nbsp;&nbsp; 8-20-2052 | 11011261 | &nbsp;&nbsp; 10413276 |
| GNMA | 3.50 | &nbsp;&nbsp; 9-20-2052 | 16969749 | &nbsp;&nbsp; 16136896 |
| GNMA | 3.50 | &nbsp;&nbsp; 2-20-2055 | 9394133 | &nbsp;&nbsp; 8820550 |
| GNMA | 4.00 | &nbsp;&nbsp; 12-20-2047 | 556647 | &nbsp;&nbsp; 545671 |
| GNMA | 4.00 | &nbsp;&nbsp; 11-20-2052 | 11327914 | &nbsp;&nbsp; 10991406 |
| GNMA | 4.50 | &nbsp;&nbsp; 8-20-2049 | 183353 | &nbsp;&nbsp; 183406 |
| GNMA | 4.50 | &nbsp;&nbsp; 7-20-2052 | 9148118 | &nbsp;&nbsp; 9114074 |
| GNMA | 4.50 | &nbsp;&nbsp; 9-20-2052 | 5980527 | &nbsp;&nbsp; 5957349 |
| GNMA | 4.50 | &nbsp;&nbsp; 3-20-2053 | 15049969 | &nbsp;&nbsp; 14972316 |
| GNMA | 4.50 | &nbsp;&nbsp; 11-20-2054 | 8629217 | &nbsp;&nbsp; 8539967 |
| GNMA | 4.50 | &nbsp;&nbsp; 4-20-2055 | 10433805 | &nbsp;&nbsp; 10322700 |
| GNMA | 5.00 | &nbsp;&nbsp; 7-20-2040 | 147461 | &nbsp;&nbsp; 152355 |
| GNMA | 5.00 | &nbsp;&nbsp; 9-20-2052 | 7060413 | &nbsp;&nbsp; 7124016 |
| GNMA | 5.00 | &nbsp;&nbsp; 4-20-2053 | 4238837 | &nbsp;&nbsp; 4271033 |
| GNMA | 5.00 | &nbsp;&nbsp; 6-20-2053 | 13193926 | &nbsp;&nbsp; 13307581 |
| GNMA | 5.00 | &nbsp;&nbsp; 8-20-2053 | 7085374 | &nbsp;&nbsp; 7140246 |
| GNMA | 5.00 | &nbsp;&nbsp; 4-20-2054 | 11495072 | &nbsp;&nbsp; 11569157 |
| GNMA | 5.00 | &nbsp;&nbsp; 10-20-2054 | 14549786 | &nbsp;&nbsp; 14621198 |
| GNMA | 5.00 | &nbsp;&nbsp; 11-20-2054 | 158776300 | &nbsp;&nbsp; 159551530 |
| GNMA%% | 5.00 | &nbsp;&nbsp; 3-19-2056 | 52760000 | &nbsp;&nbsp; 52939004 |

---

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

Allspring Core Plus Bond Fund \| 5

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| GNMA | 5.50<br> %<br>| &nbsp;&nbsp; 12-20-2052 | $10875647 | &nbsp;&nbsp; $11108945 |
| GNMA | 5.50 | &nbsp;&nbsp; 4-20-2053 | 12503794 | &nbsp;&nbsp; 12784236 |
| GNMA | 5.50 | &nbsp;&nbsp; 8-20-2054 | 15162826 | &nbsp;&nbsp; 15377580 |
| GNMA | 5.50 | &nbsp;&nbsp; 9-20-2054 | 57504529 | &nbsp;&nbsp; 58499679 |
| GNMA | 5.50 | &nbsp;&nbsp; 12-20-2054 | 69930950 | &nbsp;&nbsp; 71076281 |
| GNMA | 5.50 | &nbsp;&nbsp; 10-20-2055 | 98402831 | &nbsp;&nbsp; 99796662 |
| GNMA | 6.00 | &nbsp;&nbsp; 8-20-2054 | 44095571 | &nbsp;&nbsp; 45072769 |
| GNMA | 6.00 | &nbsp;&nbsp; 9-20-2054 | 44837467 | &nbsp;&nbsp; 45824763 |
| GNMA | 6.00 | &nbsp;&nbsp; 9-20-2055 | 21075426 | &nbsp;&nbsp; 21543261 |
| GNMA | 7.50 | &nbsp;&nbsp; 12-15-2029 | 83 | &nbsp;&nbsp; 85 |
| GNMA Series 2008-22 Class XMƒ±± | 1.37 | &nbsp;&nbsp; 2-16-2050 | 214747 | &nbsp;&nbsp; 1997 |
| **Total agency securities (Cost $3,033,186,753)** |  |  |  | &nbsp;&nbsp; **3080845168** |
| **Asset-backed securities: 9.59%** |  |  |  |  |
| ACHM Mortgage Trust Series 2024-HE1 Class A144A | 6.55 | &nbsp;&nbsp; 5-25-2039 | 3155625 | &nbsp;&nbsp; 3245320 |
| ACHM Trust Series 2023-HE2 Class A144A±± | 7.50 | &nbsp;&nbsp; 10-25-2038 | 7977795 | &nbsp;&nbsp; 8405203 |
| ACHM Trust Series 2024-HE2 Class A144A | 5.35 | &nbsp;&nbsp; 10-25-2039 | 4650014 | &nbsp;&nbsp; 4724315 |
| ACHM Trust Series 2025-HE1 Class A144A±± | 5.92 | &nbsp;&nbsp; 3-25-2055 | 13104998 | &nbsp;&nbsp; 13482576 |
| &nbsp;&nbsp; ACREC LLC Series 2025-FL3 Class A (U.S. SOFR 1 <br> Month+1.31%)144A±<br>| 4.97 | &nbsp;&nbsp; 8-18-2042 | 9300000 | &nbsp;&nbsp; 9290570 |
| &nbsp;&nbsp; Affirm Asset Securitization Trust Series 2024-B <br> Class A144A<br>| 4.62 | &nbsp;&nbsp; 9-15-2029 | 2500000 | &nbsp;&nbsp; 2506542 |
| &nbsp;&nbsp; Aligned Data Centers Issuer LLC Series 2021-1A <br> Class A2144A<br>| 1.94 | &nbsp;&nbsp; 8-15-2046 | 2881000 | &nbsp;&nbsp; 2847028 |
| ALLO Issuer LLC Series 2024-1A Class A2144A | 5.94 | &nbsp;&nbsp; 7-20-2054 | 7595000 | &nbsp;&nbsp; 7718622 |
| Aqua Finance Trust Series 2021-A Class A144A | 1.54 | &nbsp;&nbsp; 7-17-2046 | 1492794 | &nbsp;&nbsp; 1385536 |
| &nbsp;&nbsp; AREIT Trust Series 2025-CRE11 Class A (U.S. SOFR 1 <br> Month+1.55%)144A±<br>| 5.21 | &nbsp;&nbsp; 7-25-2043 | 5225000 | &nbsp;&nbsp; 5234309 |
| &nbsp;&nbsp; Avant Loans Funding Trust Series 2024-REV1 <br> Class B144A<br>| 6.17 | &nbsp;&nbsp; 10-15-2033 | 1240000 | &nbsp;&nbsp; 1243856 |
| &nbsp;&nbsp; Avis Budget Rental Car Funding AESOP LLC <br> Series 2024-3A Class A144A<br>| 5.23 | &nbsp;&nbsp; 12-20-2030 | 1000000 | &nbsp;&nbsp; 1036458 |
| &nbsp;&nbsp; Avis Budget Rental Car Funding AESOP LLC <br> Series 2025-4A Class A144A<br>| 4.40 | &nbsp;&nbsp; 2-20-2032 | 24480000 | &nbsp;&nbsp; 24678041 |
| Bastion Funding I LLC Series 2023-1A Class A2144A | 7.12 | &nbsp;&nbsp; 4-25-2038 | 7669215 | &nbsp;&nbsp; 7738821 |
| BHG Securitization Trust Series 2021-A Class B144A | 2.79 | &nbsp;&nbsp; 11-17-2033 | 6515000 | &nbsp;&nbsp; 6385241 |
| &nbsp;&nbsp; BHG Securitization Trust Series 2025-1CON <br> Class B144A<br>| 5.26 | &nbsp;&nbsp; 4-17-2036 | 4903213 | &nbsp;&nbsp; 4981619 |
| Blue Bridge Funding LLC Series 2023-1A Class A144A | 7.37 | &nbsp;&nbsp; 11-15-2030 | 614228 | &nbsp;&nbsp; 618763 |
| Blue Bridge Funding LLC Series 2023-1A Class B144A | 9.48 | &nbsp;&nbsp; 11-15-2030 | 1168000 | &nbsp;&nbsp; 1191644 |
| Blue Stream Issuer LLC Series 2023-1A Class A2144A | 5.40 | &nbsp;&nbsp; 5-20-2053 | 3500000 | &nbsp;&nbsp; 3519671 |
| Blue Stream Issuer LLC Series 2024-1A Class B144A | 6.04 | &nbsp;&nbsp; 11-20-2054 | 2350000 | &nbsp;&nbsp; 2402367 |
| Bojangles Issuer LLC Series 2024-1A Class A2144A | 6.58 | &nbsp;&nbsp; 11-20-2054 | 19104000 | &nbsp;&nbsp; 19370822 |
| Cajun Global LLC Series 2025-2A Class A2144A | 5.91 | &nbsp;&nbsp; 11-20-2055 | 6184500 | &nbsp;&nbsp; 6288232 |
| &nbsp;&nbsp; Camber Credit Auto Trust Series 2026-1A <br> Class A144A♦<br>| 5.63 | &nbsp;&nbsp; 12-15-2031 | 7115000 | &nbsp;&nbsp; 7115000 |
| CCAS LLC Series 2024-1A Class A144A | 7.12 | &nbsp;&nbsp; 6-16-2031 | 18589000 | &nbsp;&nbsp; 18831666 |
| Centersquare Issuer LLC Series 2024-1A Class A2144A | 5.20 | &nbsp;&nbsp; 10-26-2054 | 2500000 | &nbsp;&nbsp; 2469791 |

---

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

6 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| Centersquare Issuer LLC Series 2025-1A Class A2144A | 5.50<br> %<br>| &nbsp;&nbsp; 3-26-2055 | $18370000 | &nbsp;&nbsp; $18157639 |
| &nbsp;&nbsp; ClickLease Equipment Receivables Trust Series 2024-1 <br> Class C144A<br>| 8.40 | &nbsp;&nbsp; 2-15-2030 | 1292619 | &nbsp;&nbsp; 1307831 |
| Cloud Capital Holdco LP Series 2024-1A Class A2144A | 5.78 | &nbsp;&nbsp; 11-22-2049 | 3290000 | &nbsp;&nbsp; 3302628 |
| Cogent IPv4 LLC Series 2024-1A Class A2144A | 7.92 | &nbsp;&nbsp; 5-25-2054 | 12370000 | &nbsp;&nbsp; 12932620 |
| Cogent IPv4 LLC Series 2025-1A Class A2144A | 6.65 | &nbsp;&nbsp; 4-25-2055 | 21950000 | &nbsp;&nbsp; 22802163 |
| &nbsp;&nbsp; Consolidated Communications LLC/Fidium Fiber <br> Finance Holdco LLC Series 2025-1A Class A2144A<br>| 6.00 | &nbsp;&nbsp; 5-20-2055 | 2820000 | &nbsp;&nbsp; 2890961 |
| &nbsp;&nbsp; CoreVest American Finance Trust Series 2021-3 <br> Class B144A<br>| 2.49 | &nbsp;&nbsp; 10-15-2054 | 355000 | &nbsp;&nbsp; 348542 |
| &nbsp;&nbsp; Crockett Partners Equipment Co. IIA LLC <br> Series 2024-1C Class A144A<br>| 6.05 | &nbsp;&nbsp; 1-20-2031 | 10674697 | &nbsp;&nbsp; 10905410 |
| DataBank Issuer LLC Series 2024-1A Class A2144A | 5.30 | &nbsp;&nbsp; 1-26-2054 | 17250000 | &nbsp;&nbsp; 17291486 |
| DataBank Issuer LLC Series 2026-1A Class A2144A | 5.81 | &nbsp;&nbsp; 2-25-2056 | 18730000 | &nbsp;&nbsp; 19040110 |
| DI Issuer LLC Series 2024-1A Class A2144A | 5.81 | &nbsp;&nbsp; 9-15-2054 | 15500000 | &nbsp;&nbsp; 15633751 |
| Diversified ABS X LLC Series 2025-1A Class A1144A | 5.95 | &nbsp;&nbsp; 2-28-2045 | 4641840 | &nbsp;&nbsp; 4674607 |
| &nbsp;&nbsp; Driven Brands Funding LLC Series 2021-1A <br> Class A2144A<br>| 2.79 | &nbsp;&nbsp; 10-20-2051 | 3727028 | &nbsp;&nbsp; 3545372 |
| &nbsp;&nbsp; ECMC Group Student Loan Trust Series 2020-3A <br> Class A1B (30 Day Average U.S. SOFR+1.11%)144A±<br>| 4.78 | &nbsp;&nbsp; 1-27-2070 | 1866692 | &nbsp;&nbsp; 1873272 |
| &nbsp;&nbsp; Edgeconnex Data Centers Issuer LLC Series 2024-1 <br> Class A2144A<br>| 6.00 | &nbsp;&nbsp; 7-27-2054 | 12049763 | &nbsp;&nbsp; 12250271 |
| &nbsp;&nbsp; Edsouth Indenture No. 9 LLC Series 2015-1 Class A (30 <br> Day Average U.S. SOFR+0.91%)144A±<br>| 4.58 | &nbsp;&nbsp; 10-25-2056 | 260134 | &nbsp;&nbsp; 259245 |
| &nbsp;&nbsp; Enterprise Fleet Financing LLC Series 2023-2 <br> Class A3144A<br>| 5.50 | &nbsp;&nbsp; 4-22-2030 | 7185000 | &nbsp;&nbsp; 7296582 |
| FIGRE Trust Series 2023-HE1 Class A144A | 5.85 | &nbsp;&nbsp; 3-25-2053 | 7898866 | &nbsp;&nbsp; 8027832 |
| FIGRE Trust Series 2023-HE2 Class A144A±± | 6.51 | &nbsp;&nbsp; 5-25-2053 | 5701977 | &nbsp;&nbsp; 5864900 |
| FIGRE Trust Series 2023-HE3 Class A144A±± | 6.44 | &nbsp;&nbsp; 11-25-2053 | 2396078 | &nbsp;&nbsp; 2468766 |
| FIGRE Trust Series 2024-HE2 Class A144A±± | 6.38 | &nbsp;&nbsp; 5-25-2054 | 5030693 | &nbsp;&nbsp; 5175639 |
| FIGRE Trust Series 2024-HE5 Class A144A±± | 5.44 | &nbsp;&nbsp; 10-25-2054 | 4088112 | &nbsp;&nbsp; 4147504 |
| FIGRE Trust Series 2025-HE1 Class A144A±± | 5.83 | &nbsp;&nbsp; 1-25-2055 | 2698850 | &nbsp;&nbsp; 2746877 |
| FirstKey Homes Trust Series 2021-SFR1 Class A144A | 1.54 | &nbsp;&nbsp; 8-17-2038 | 1178064 | &nbsp;&nbsp; 1163268 |
| FirstKey Homes Trust Series 2021-SFR1 Class C144A | 1.89 | &nbsp;&nbsp; 8-17-2038 | 6770000 | &nbsp;&nbsp; 6682139 |
| FirstKey Homes Trust Series 2021-SFR2 Class B144A | 1.61 | &nbsp;&nbsp; 9-17-2038 | 8675000 | &nbsp;&nbsp; 8537343 |
| Five Guys Holdings, Inc. Series 2023-1A Class A2144A | 7.55 | &nbsp;&nbsp; 1-26-2054 | 3130375 | &nbsp;&nbsp; 3220045 |
| Flexential Issuer LLC Series 2025-1A Class A2144A | 6.03 | &nbsp;&nbsp; 10-25-2060 | 8050000 | &nbsp;&nbsp; 8182133 |
| Flexential Issuer Series 2021-1A Class A2144A | 3.25 | &nbsp;&nbsp; 11-27-2051 | 4395429 | &nbsp;&nbsp; 4345116 |
| &nbsp;&nbsp; Ford Credit Floorplan Master Owner Trust A <br> Series 2023-1 Class B144A<br>| 5.31 | &nbsp;&nbsp; 5-15-2028 | 4000000 | &nbsp;&nbsp; 4010792 |
| FREED Mortgage Trust Series 2022-HE1 Class A144A±± | 7.00 | &nbsp;&nbsp; 10-25-2037 | 4467043 | &nbsp;&nbsp; 4597592 |
| FREED Mortgage Trust Series 2022-HE1 Class B144A±± | 7.00 | &nbsp;&nbsp; 10-25-2037 | 6890597 | &nbsp;&nbsp; 7225372 |
| &nbsp;&nbsp; FS Rialto Issuer LLC Series 2021-FL3 Class B (U.S. SOFR <br> 1 Month+1.91%)144A±<br>| 5.57 | &nbsp;&nbsp; 11-16-2036 | 3000000 | &nbsp;&nbsp; 3012641 |
| &nbsp;&nbsp; FS Rialto Issuer LLC Series 2025-FL10 Class C <br> (U.S. SOFR 1 Month+2.15%)144A±<br>| 5.81 | &nbsp;&nbsp; 8-19-2042 | 1895000 | &nbsp;&nbsp; 1893818 |
| &nbsp;&nbsp; FS Rialto Issuer LLC Series 2026-FL11 Class AS <br> (U.S. SOFR 1 Month+1.65%)144A±<br>| 5.30 | &nbsp;&nbsp; 1-19-2044 | 23520000 | &nbsp;&nbsp; 23600899 |

---

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

Allspring Core Plus Bond Fund \| 7

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp; Gracie Point International Funding LLC Series 2025-1A <br> Class A (30 Day Average U.S. SOFR+1.50%)144A±<br>| 5.18<br> %<br>| &nbsp;&nbsp; 8-15-2028 | $1350000 | &nbsp;&nbsp; $1351824 |
| &nbsp;&nbsp; Hertz Vehicle Financing III LLC Series 2023-2A <br> Class A144A<br>| 5.57 | &nbsp;&nbsp; 9-25-2029 | 3695000 | &nbsp;&nbsp; 3813079 |
| &nbsp;&nbsp; Hertz Vehicle Financing III LLC Series 2023-4A <br> Class A144A<br>| 6.15 | &nbsp;&nbsp; 3-25-2030 | 10700000 | &nbsp;&nbsp; 11275766 |
| Hipgnosis Music Assets LP Series 2022-1 Class A144A | 5.00 | &nbsp;&nbsp; 5-16-2062 | 15171882 | &nbsp;&nbsp; 15159819 |
| Hotwire Funding LLC Series 2023-1A Class A2144A | 5.69 | &nbsp;&nbsp; 5-20-2053 | 16750000 | &nbsp;&nbsp; 16896867 |
| Hyundai Auto Receivables Trust Series 2026-A Class C | 4.31 | &nbsp;&nbsp; 6-15-2033 | 5135000 | &nbsp;&nbsp; 5168609 |
| &nbsp;&nbsp; ICG U.S. CLO Ltd. Series 2014-1A Class BR3 (U.S. SOFR <br> 3 Month+1.75%)144A±%%<br>| 5.42 | &nbsp;&nbsp; 10-20-2034 | 4400000 | &nbsp;&nbsp; 4400000 |
| &nbsp;&nbsp; ICG U.S. CLO Ltd. Series 2014-1A Class BR2 (U.S. SOFR <br> 3 Month+2.71%)144A±<br>| 6.38 | &nbsp;&nbsp; 10-20-2034 | 4400000 | &nbsp;&nbsp; 4400000 |
| &nbsp;&nbsp; Jack in the Box Funding LLC Series 2022-1A <br> Class A2II144A<br>| 4.14 | &nbsp;&nbsp; 2-26-2052 | 4784000 | &nbsp;&nbsp; 4253186 |
| &nbsp;&nbsp; Jersey Mike's Funding LLC Series 2024-1A <br> Class A2144A<br>| 5.64 | &nbsp;&nbsp; 2-15-2055 | 9068400 | &nbsp;&nbsp; 9324886 |
| &nbsp;&nbsp; Jimmy Johns Funding LLC Series 2017-1A <br> Class A2II144A<br>| 4.85 | &nbsp;&nbsp; 7-30-2047 | 2305750 | &nbsp;&nbsp; 2306706 |
| Jonah Energy ABS I LLC Series 2022-1 Class A1144A | 7.20 | &nbsp;&nbsp; 12-10-2037 | 5461507 | &nbsp;&nbsp; 5569667 |
| &nbsp;&nbsp; Lafayette Federal Credit Union Asset Trust Series 2026-<br> HI1A Class A2144A<br>| 5.38 | &nbsp;&nbsp; 1-25-2046 | 11945000 | &nbsp;&nbsp; 12041518 |
| &nbsp;&nbsp; LCM 37 Ltd. Series 37A Class A1R (U.S. SOFR 3 <br> Month+1.06%)144A±<br>| 4.73 | &nbsp;&nbsp; 4-15-2034 | 2755664 | &nbsp;&nbsp; 2755651 |
| Lendmark Funding Trust Series 2021-1A Class A144A | 1.90 | &nbsp;&nbsp; 11-20-2031 | 2065000 | &nbsp;&nbsp; 2023509 |
| &nbsp;&nbsp; LoanCore Issuer LLC Series 2025-CRE8 Class C <br> (U.S. SOFR 1 Month+2.14%)144A±<br>| 5.80 | &nbsp;&nbsp; 8-17-2042 | 1000000 | &nbsp;&nbsp; 1000618 |
| &nbsp;&nbsp; Lyra Music Assets Delaware LP Series 2024-2A <br> Class A2144A<br>| 5.76 | &nbsp;&nbsp; 12-22-2064 | 9248359 | &nbsp;&nbsp; 9379885 |
| &nbsp;&nbsp; MF1 Ltd. Series 2022-FL8 Class A (U.S. SOFR 1 <br> Month+1.35%)144A±<br>| 5.02 | &nbsp;&nbsp; 2-19-2037 | 5578341 | &nbsp;&nbsp; 5576505 |
| &nbsp;&nbsp; MF1 Ltd. Series 2022-FL8 Class C (U.S. SOFR 1 <br> Month+2.20%)144A±<br>| 5.87 | &nbsp;&nbsp; 2-19-2037 | 8750000 | &nbsp;&nbsp; 8733153 |
| MNR ABS Issuer I LLC‡ | 8.12 | &nbsp;&nbsp; 12-15-2038 | 4448264 | &nbsp;&nbsp; 4537229 |
| &nbsp;&nbsp; Monroe Capital ABS Funding II Ltd. Series 2023-1A <br> Class A1R144A<br>| 6.77 | &nbsp;&nbsp; 7-22-2034 | 1245000 | &nbsp;&nbsp; 1247151 |
| &nbsp;&nbsp; Navient Private Education Refinance Loan Trust <br> Series 2021-EA Class A144A<br>| 0.97 | &nbsp;&nbsp; 12-16-2069 | 3459532 | &nbsp;&nbsp; 3159685 |
| NBC Funding LLC Series 2024-1A Class A2144A | 6.75 | &nbsp;&nbsp; 7-30-2054 | 21978000 | &nbsp;&nbsp; 22638637 |
| Neighborly Issuer LLC Series 2021-1A Class A2144A | 3.58 | &nbsp;&nbsp; 4-30-2051 | 7620000 | &nbsp;&nbsp; 7358780 |
| &nbsp;&nbsp; New Economy Assets - Phase 1 Sponsor LLC <br> Series 2021-1 Class B1144A<br>| 2.41 | &nbsp;&nbsp; 10-20-2061 | 3750000 | &nbsp;&nbsp; 2415519 |
| &nbsp;&nbsp; NextGear Floorplan Master Owner Trust Series 2024-2A <br> Class A2144A<br>| 4.42 | &nbsp;&nbsp; 9-15-2029 | 13650000 | &nbsp;&nbsp; 13769125 |
| NMABS Issuer I LLC Series 2025-1A Class B144A | 5.33 | &nbsp;&nbsp; 11-22-2055 | 5706431 | &nbsp;&nbsp; 5716070 |
| NMEF Funding LLC Series 2026-A Class C144A | 4.71 | &nbsp;&nbsp; 2-15-2034 | 3905000 | &nbsp;&nbsp; 3931175 |
| &nbsp;&nbsp; Oak Street Investment Grade Net Lease Fund <br> Series 2020-1A Class A5144A<br>| 3.39 | &nbsp;&nbsp; 11-20-2050 | 5348250 | &nbsp;&nbsp; 3589991 |

---

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

8 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp; Oak Street Investment Grade Net Lease Fund <br> Series 2020-1A Class B1144A<br>| 5.11<br> %<br>| &nbsp;&nbsp; 11-20-2050 | $3325000 | &nbsp;&nbsp; $1832894 |
| &nbsp;&nbsp; Oak Street Investment Grade Net Lease Fund <br> Series 2021-1A Class A3144A<br>| 2.80 | &nbsp;&nbsp; 1-20-2051 | 4881906 | &nbsp;&nbsp; 2984287 |
| Octane Receivables Trust Series 2023-1A Class B144A | 5.96 | &nbsp;&nbsp; 7-20-2029 | 2046615 | &nbsp;&nbsp; 2052943 |
| &nbsp;&nbsp; OneMain Direct Auto Receivables Trust Series 2025-1A <br> Class A144A<br>| 5.36 | &nbsp;&nbsp; 4-16-2035 | 6500000 | &nbsp;&nbsp; 6791058 |
| &nbsp;&nbsp; OneMain Financial Issuance Trust Series 2020-2A <br> Class A144A<br>| 1.75 | &nbsp;&nbsp; 9-14-2035 | 796519 | &nbsp;&nbsp; 785574 |
| &nbsp;&nbsp; OWN Equipment Fund I LLC Series 2024-2M <br> Class A144A<br>| 5.70 | &nbsp;&nbsp; 12-20-2032 | 11043714 | &nbsp;&nbsp; 11269036 |
| &nbsp;&nbsp; OWN Equipment Fund II LLC Series 2025-1M <br> Class A144A<br>| 5.48 | &nbsp;&nbsp; 9-26-2033 | 1005931 | &nbsp;&nbsp; 1020995 |
| &nbsp;&nbsp; OWN Equipment Fund III LLC Series 2025-2M <br> Class A144A<br>| 5.42 | &nbsp;&nbsp; 3-27-2034 | 15223130 | &nbsp;&nbsp; 15429367 |
| &nbsp;&nbsp; Oxford Finance Credit Fund III LP Series 2024-A <br> Class A2144A<br>| 6.68 | &nbsp;&nbsp; 1-14-2032 | 9018538 | &nbsp;&nbsp; 9160683 |
| &nbsp;&nbsp; Pagaya AI Debt Grantor Trust Series 2025-6 <br> Class B144A<br>| 4.88 | &nbsp;&nbsp; 4-15-2033 | 10739010 | &nbsp;&nbsp; 10727856 |
| &nbsp;&nbsp; Pagaya AI Debt Grantor Trust Series 2025-7 <br> Class B144A<br>| 5.06 | &nbsp;&nbsp; 5-15-2033 | 4245000 | &nbsp;&nbsp; 4253476 |
| &nbsp;&nbsp; Pagaya Point of Sale Holdings Grantor Trust <br> Series 2025-1 Class A144A<br>| 5.72 | &nbsp;&nbsp; 1-20-2034 | 4000000 | &nbsp;&nbsp; 4022981 |
| PFS Financing Corp. Series 2024-B Class A144A | 4.95 | &nbsp;&nbsp; 2-15-2029 | 1575000 | &nbsp;&nbsp; 1590354 |
| &nbsp;&nbsp; Planet Fitness Master Issuer LLC Series 2024-1A <br> Class A2I144A<br>| 5.77 | &nbsp;&nbsp; 6-5-2054 | 22885312 | &nbsp;&nbsp; 23243859 |
| &nbsp;&nbsp; Prestige Auto Receivables Trust Series 2024-2A <br> Class B144A<br>| 4.56 | &nbsp;&nbsp; 2-15-2029 | 1900000 | &nbsp;&nbsp; 1899077 |
| PureWest ABS Issuer LLC | 5.69 | &nbsp;&nbsp; 4-5-2040 | 3528418 | &nbsp;&nbsp; 3551914 |
| Qdoba Funding LLC Series 2023-1A Class A2144A | 8.50 | &nbsp;&nbsp; 9-14-2053 | 10234350 | &nbsp;&nbsp; 10712230 |
| &nbsp;&nbsp; RCKT Mortgage Trust Series 2023-CES3 <br> Class A1A144A±±<br>| 7.11 | &nbsp;&nbsp; 11-25-2043 | 11030166 | &nbsp;&nbsp; 11151808 |
| &nbsp;&nbsp; RCKT Mortgage Trust Series 2024-CES2 <br> Class A1A144A±±<br>| 6.14 | &nbsp;&nbsp; 4-25-2044 | 3735620 | &nbsp;&nbsp; 3774251 |
| &nbsp;&nbsp; RCKT Mortgage Trust Series 2025-CES1 <br> Class A1A144A±±<br>| 5.65 | &nbsp;&nbsp; 1-25-2045 | 363790 | &nbsp;&nbsp; 368145 |
| &nbsp;&nbsp; Retained Vantage Data Centers Issuer LLC <br> Series 2023-1A Class A2A144A<br>| 5.00 | &nbsp;&nbsp; 9-15-2048 | 16130000 | &nbsp;&nbsp; 16159426 |
| &nbsp;&nbsp; Retained Vantage Data Centers Issuer LLC <br> Series 2024-1A Class A2144A<br>| 4.99 | &nbsp;&nbsp; 9-15-2049 | 22900000 | &nbsp;&nbsp; 22938348 |
| &nbsp;&nbsp; Sabey Data Center Issuer LLC Series 2026-1 <br> Class A2144A<br>| 5.48 | &nbsp;&nbsp; 1-20-2051 | 15750000 | &nbsp;&nbsp; 15992720 |
| &nbsp;&nbsp; Saluda Grade Alternative Mortgage Trust Series 2023-<br> FIG3 Class A144A±±<br>| 7.07 | &nbsp;&nbsp; 8-25-2053 | 6764318 | &nbsp;&nbsp; 7061342 |
| &nbsp;&nbsp; Saluda Grade Alternative Mortgage Trust Series 2023-<br> FIG4 Class A144A±±<br>| 6.72 | &nbsp;&nbsp; 11-25-2053 | 6535848 | &nbsp;&nbsp; 6854454 |
| &nbsp;&nbsp; Scalelogix ABS U.S. Issuer LLC Series 2025-1A <br> Class A2144A<br>| 5.67 | &nbsp;&nbsp; 7-25-2055 | 1400000 | &nbsp;&nbsp; 1416933 |
| SEB Funding LLC Series 2021-1A Class A2144A | 4.97 | &nbsp;&nbsp; 1-30-2052 | 4114687 | &nbsp;&nbsp; 4114666 |

---

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

Allspring Core Plus Bond Fund \| 9

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| SEB Funding LLC Series 2024-1A Class A2144A | 7.39<br> %<br>| &nbsp;&nbsp; 4-30-2054 | $5700000 | &nbsp;&nbsp; $5860118 |
| Service Experts Issuer LLC Series 2021-1A Class A144A | 2.67 | &nbsp;&nbsp; 2-2-2032 | 1673739 | &nbsp;&nbsp; 1652699 |
| Service Experts Issuer LLC Series 2021-1A Class B144A | 3.28 | &nbsp;&nbsp; 2-2-2032 | 6445000 | &nbsp;&nbsp; 6262340 |
| Service Experts Issuer LLC Series 2024-1A Class A144A | 6.39 | &nbsp;&nbsp; 11-20-2035 | 8115110 | &nbsp;&nbsp; 8336086 |
| Service Experts Issuer LLC Series 2025-1A Class A144A | 5.38 | &nbsp;&nbsp; 1-20-2037 | 4496850 | &nbsp;&nbsp; 4547764 |
| &nbsp;&nbsp; ServiceMaster Funding LLC Series 2020-1 <br> Class A2II144A<br>| 3.34 | &nbsp;&nbsp; 1-30-2051 | 2746181 | &nbsp;&nbsp; 2489091 |
| SESAC Finance LLC Series 2024-1 Class A2144A | 6.42 | &nbsp;&nbsp; 1-25-2054 | 2303000 | &nbsp;&nbsp; 2356376 |
| SESAC Finance LLC Series 2025-1 Class A2144A | 5.50 | &nbsp;&nbsp; 7-25-2055 | 5000000 | &nbsp;&nbsp; 5010317 |
| &nbsp;&nbsp; SLM Student Loan Trust Series 2003-10A Class A4 (90 <br> Day Average U.S. SOFR+0.93%)144A±<br>| 5.06 | &nbsp;&nbsp; 12-17-2068 | 2339992 | &nbsp;&nbsp; 2330582 |
| &nbsp;&nbsp; Sotheby's ArtFi Master Trust Series 2026-1A <br> Class B144A<br>| 4.90 | &nbsp;&nbsp; 6-20-2033 | 4940000 | &nbsp;&nbsp; 4960934 |
| &nbsp;&nbsp; SpringCastle America Funding LLC Series 2020-AA <br> Class A144A<br>| 1.97 | &nbsp;&nbsp; 9-25-2037 | 1067853 | &nbsp;&nbsp; 1013001 |
| &nbsp;&nbsp; Stack Infrastructure Issuer LLC Series 2024-1A <br> Class A2144A<br>| 5.90 | &nbsp;&nbsp; 3-25-2049 | 1500000 | &nbsp;&nbsp; 1518083 |
| &nbsp;&nbsp; Starwood Ltd. Series 2022-FL3 Class A (30 Day Average <br> U.S. SOFR+1.35%)144A±<br>| 5.01 | &nbsp;&nbsp; 11-15-2038 | 342615 | &nbsp;&nbsp; 341364 |
| &nbsp;&nbsp; Store Master Funding I-VII XIV XIX XX XXIV <br> Series 2023-1A Class A1144A<br>| 6.19 | &nbsp;&nbsp; 6-20-2053 | 6903750 | &nbsp;&nbsp; 6924604 |
| Subway Funding LLC Series 2024-3A Class A2I144A | 5.25 | &nbsp;&nbsp; 7-30-2054 | 3476000 | &nbsp;&nbsp; 3467246 |
| Subway Funding LLC Series 2024-3A Class A23144A | 5.91 | &nbsp;&nbsp; 7-30-2054 | 2172500 | &nbsp;&nbsp; 2172022 |
| Switch ABS Issuer LLC Series 2024-1A Class A2144A | 6.28 | &nbsp;&nbsp; 3-25-2054 | 4890000 | &nbsp;&nbsp; 4952031 |
| Switch ABS Issuer LLC Series 2024-2A Class A2144A | 5.44 | &nbsp;&nbsp; 6-25-2054 | 13115000 | &nbsp;&nbsp; 13153569 |
| Switch ABS Issuer LLC Series 2025-2A Class A22144A | 5.37 | &nbsp;&nbsp; 10-25-2055 | 20265000 | &nbsp;&nbsp; 20453728 |
| Taco Bell Funding LLC Series 2021-1A Class A23144A | 2.54 | &nbsp;&nbsp; 8-25-2051 | 491250 | &nbsp;&nbsp; 439301 |
| TierPoint Issuer LLC Series 2025-1A Class A2144A | 6.15 | &nbsp;&nbsp; 4-26-2055 | 1300000 | &nbsp;&nbsp; 1326150 |
| &nbsp;&nbsp; Towd Point Mortgage Trust Series 2023-CES1 <br> Class A1A144A±±<br>| 6.75 | &nbsp;&nbsp; 7-25-2063 | 5738725 | &nbsp;&nbsp; 5758167 |
| &nbsp;&nbsp; Towd Point Mortgage Trust Series 2024-CES1 <br> Class A2144A±±<br>| 6.44 | &nbsp;&nbsp; 1-25-2064 | 2769000 | &nbsp;&nbsp; 2797654 |
| &nbsp;&nbsp; Towd Point Mortgage Trust Series 2025-FIX1 <br> Class A1144A±±<br>| 4.97 | &nbsp;&nbsp; 9-25-2065 | 17397805 | &nbsp;&nbsp; 17482643 |
| &nbsp;&nbsp; TRTX Issuer Ltd. Series 2022-FL5 Class A (U.S. SOFR 1 <br> Month+1.65%)144A±<br>| 5.31 | &nbsp;&nbsp; 2-15-2039 | 642089 | &nbsp;&nbsp; 639815 |
| &nbsp;&nbsp; TRTX Issuer Ltd. Series 2025-FL6 Class A (U.S. SOFR 1 <br> Month+1.54%)144A±<br>| 5.20 | &nbsp;&nbsp; 9-18-2042 | 10000000 | &nbsp;&nbsp; 10013157 |
| &nbsp;&nbsp; TRTX Issuer Ltd. Series 2025-FL7 Class A (U.S. SOFR 1 <br> Month+1.45%)144A±<br>| 5.11 | &nbsp;&nbsp; 6-18-2043 | 14395000 | &nbsp;&nbsp; 14393832 |
| TSC SPV Funding LLC Series 2024-1A Class A2144A | 6.29 | &nbsp;&nbsp; 8-20-2054 | 7085312 | &nbsp;&nbsp; 7290775 |
| &nbsp;&nbsp; Uniti Fiber ABS Issuer LLC Series 2025-1A <br> Class A2144A<br>| 5.88 | &nbsp;&nbsp; 4-20-2055 | 3610000 | &nbsp;&nbsp; 3707768 |
| &nbsp;&nbsp; Venture 44 CLO Ltd. Series 2021-44A Class A1NR <br> (U.S. SOFR 3 Month+1.14%)144A±<br>| 4.81 | &nbsp;&nbsp; 10-20-2034 | 4650000 | &nbsp;&nbsp; 4652888 |
| &nbsp;&nbsp; Venture CLO Ltd. Series 2017-30A Class B (U.S. SOFR 3 <br> Month+1.86%)144A±<br>| 5.53 | &nbsp;&nbsp; 1-15-2031 | 250000 | &nbsp;&nbsp; 250966 |
| Vital Care Issuer LLC Series 2025-1A Class A2144A | 6.74 | &nbsp;&nbsp; 1-30-2056 | 6165000 | &nbsp;&nbsp; 6278941 |
| Wendy's Funding LLC Series 2021-1A Class A2II144A | 2.78 | &nbsp;&nbsp; 6-15-2051 | 525246 | &nbsp;&nbsp; 479243 |

---

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

10 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| Westgate Resorts LLC Series 2022-1A Class C144A | 2.49<br> %<br>| &nbsp;&nbsp; 8-20-2036 | $1131447 | &nbsp;&nbsp; $1124363 |
| Wingstop Funding LLC Series 2024-1A Class A2144A | 5.86 | &nbsp;&nbsp; 12-5-2054 | 3800000 | &nbsp;&nbsp; 3946631 |
| Zaxby's Funding LLC Series 2021-1A Class A2144A | 3.24 | &nbsp;&nbsp; 7-30-2051 | 4698600 | &nbsp;&nbsp; 4505866 |
| Zayo Issuer LLC Series 2025-1A Class A2144A | 5.65 | &nbsp;&nbsp; 3-20-2055 | 12490000 | &nbsp;&nbsp; 12773316 |
| Zayo Issuer LLC Series 2025-2A Class A2144A | 5.95 | &nbsp;&nbsp; 6-20-2055 | 3640000 | &nbsp;&nbsp; 3755510 |
| Zayo Issuer LLC Series 2025-3A Class A2144A | 5.57 | &nbsp;&nbsp; 10-20-2055 | 18210000 | &nbsp;&nbsp; 18658951 |
| **Total asset-backed securities (Cost $1,032,015,839)** |  |  |  | &nbsp;&nbsp; **1039160358** |

---

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

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Common stocks: 0.02%** |  |  |
| **Financials: 0.00%** |  |  |
| **Financial services: 0.00%** |  |  |
| Unifin Financiera SAB de CV♦† | 305668 | &nbsp;&nbsp; **0** |
| **Health care: 0.02%** |  |  |
| **Health care providers & services: 0.02%** |  |  |
| Modivcare Topco LLC† | 413952 | &nbsp;&nbsp; **2328480** |
| **Total common stocks (Cost $1,377,343)** |  | &nbsp;&nbsp; **2328480** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  |  | Principal |  |
| **Corporate bonds and notes: 22.11%** |  |  |  |  |
| **Basic materials: 0.34%** |  |  |  |  |
| **Chemicals: 0.33%** |  |  |  |  |
| Celanese U.S. Holdings LLC | 6.50 | &nbsp;&nbsp; 4-15-2030 | $12035000 | &nbsp;&nbsp; 12333035 |
| Chemours Co.144A | 8.00 | &nbsp;&nbsp; 1-15-2033 | 6195000 | &nbsp;&nbsp; 6300600 |
| LYB International Finance III LLC | 5.50 | &nbsp;&nbsp; 3-1-2034 | 4340000 | &nbsp;&nbsp; 4373919 |
| LYB International Finance III LLC | 5.88 | &nbsp;&nbsp; 1-15-2036 | 9165000 | &nbsp;&nbsp; 9265762 |
| Westlake Corp. | 1.63 | &nbsp;&nbsp; 7-17-2029 | 2750000 | &nbsp;&nbsp; 3105411 |
|  |  |  |  | &nbsp;&nbsp; **35378727** |
| **Iron/steel: 0.01%** |  |  |  |  |
| Cleveland-Cliffs, Inc.144A | 4.88 | &nbsp;&nbsp; 3-1-2031 | 1305000 | &nbsp;&nbsp; **1238104** |
| **Communications: 2.83%** |  |  |  |  |
| **Internet: 0.60%** |  |  |  |  |
| Alphabet, Inc. | 5.65 | &nbsp;&nbsp; 2-15-2056 | 15540000 | &nbsp;&nbsp; 15901427 |
| Booking Holdings, Inc. | 4.13 | &nbsp;&nbsp; 5-12-2033 | 2500000 | &nbsp;&nbsp; 3077626 |
| Meta Platforms, Inc. | 4.88 | &nbsp;&nbsp; 11-15-2035 | 23870000 | &nbsp;&nbsp; 24107680 |
| Meta Platforms, Inc. | 5.63 | &nbsp;&nbsp; 11-15-2055 | 19380000 | &nbsp;&nbsp; 18969633 |
| Wayfair LLC144A | 6.75 | &nbsp;&nbsp; 11-15-2032 | 3100000 | &nbsp;&nbsp; 3159504 |
|  |  |  |  | &nbsp;&nbsp; **65215870** |
| **Media: 1.26%** |  |  |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp.144A | 4.25 | &nbsp;&nbsp; 1-15-2034 | 30480000 | &nbsp;&nbsp; 26551155 |
| &nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 2.80 | &nbsp;&nbsp; 4-1-2031 | 24770000 | &nbsp;&nbsp; 22516388 |

---

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

Allspring Core Plus Bond Fund \| 11

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Media**(continued) |  |  |  |  |
| &nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 3.85<br> %<br>| &nbsp;&nbsp; 4-1-2061 | $6000000 | &nbsp;&nbsp; $3628292 |
| &nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 3.90 | &nbsp;&nbsp; 6-1-2052 | 5420000 | &nbsp;&nbsp; 3566534 |
| &nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 6.10 | &nbsp;&nbsp; 6-1-2029 | 16853000 | &nbsp;&nbsp; 17663299 |
| Comcast Corp. | 2.94 | &nbsp;&nbsp; 11-1-2056 | 7000000 | &nbsp;&nbsp; 4082201 |
| Comcast Corp. | 5.50 | &nbsp;&nbsp; 5-15-2064 | 9770000 | &nbsp;&nbsp; 8999309 |
| Comcast Corp. | 6.05 | &nbsp;&nbsp; 5-15-2055 | 9905000 | &nbsp;&nbsp; 10142269 |
| News Corp.144A | 3.88 | &nbsp;&nbsp; 5-15-2029 | 25085000 | &nbsp;&nbsp; 24472404 |
| News Corp.144A | 5.13 | &nbsp;&nbsp; 2-15-2032 | 4470000 | &nbsp;&nbsp; 4447148 |
| Time Warner Cable LLC | 5.50 | &nbsp;&nbsp; 9-1-2041 | 12015000 | &nbsp;&nbsp; 10747181 |
|  |  |  |  | &nbsp;&nbsp; **136816180** |
| **Telecommunications: 0.97%** |  |  |  |  |
| AT&T, Inc. | 3.55 | &nbsp;&nbsp; 9-15-2055 | 18760000 | &nbsp;&nbsp; 12700907 |
| AT&T, Inc. | 5.70 | &nbsp;&nbsp; 11-1-2054 | 19980000 | &nbsp;&nbsp; 19385221 |
| Level 3 Financing, Inc.144A | 7.00 | &nbsp;&nbsp; 3-31-2034 | 14325000 | &nbsp;&nbsp; 14891474 |
| &nbsp;&nbsp; Sprint Spectrum Co. LLC/Sprint Spectrum Co. <br> II LLC/Sprint Spectrum Co. III LLC144A<br>| 5.15 | &nbsp;&nbsp; 3-20-2028 | 7321500 | &nbsp;&nbsp; 7372213 |
| SV RNO Property Owner 1 LLC144A | 5.88 | &nbsp;&nbsp; 3-1-2031 | 6815000 | &nbsp;&nbsp; 6845530 |
| Verizon Communications, Inc. | 5.00 | &nbsp;&nbsp; 1-15-2036 | 27645000 | &nbsp;&nbsp; 27767228 |
| Verizon Communications, Inc. | 5.88 | &nbsp;&nbsp; 11-30-2055 | 8315000 | &nbsp;&nbsp; 8370669 |
| WULF Compute LLC144A | 7.75 | &nbsp;&nbsp; 10-15-2030 | 6980000 | &nbsp;&nbsp; 7391918 |
|  |  |  |  | &nbsp;&nbsp; **104725160** |
| **Consumer, cyclical: 2.54%** |  |  |  |  |
| **Airlines: 0.60%** |  |  |  |  |
| &nbsp;&nbsp; American Airlines Pass-Through Trust Series 2015-1 <br> Class A<br>| 3.38 | &nbsp;&nbsp; 5-1-2027 | 16448408 | &nbsp;&nbsp; 16263989 |
| &nbsp;&nbsp; Delta Air Lines Pass-Through Trust Series 2020-1 <br> Class AA<br>| 2.00 | &nbsp;&nbsp; 6-10-2028 | 2634199 | &nbsp;&nbsp; 2525377 |
| Delta Air Lines, Inc./SkyMiles IP Ltd.144A | 4.75 | &nbsp;&nbsp; 10-20-2028 | 29700000 | &nbsp;&nbsp; 29956826 |
| Southwest Airlines Co. | 5.25 | &nbsp;&nbsp; 11-15-2035 | 9655000 | &nbsp;&nbsp; 9576038 |
| &nbsp;&nbsp; United Airlines Pass-Through Trust Series 2023-1 <br> Class A<br>| 5.80 | &nbsp;&nbsp; 1-15-2036 | 6460906 | &nbsp;&nbsp; 6855331 |
|  |  |  |  | &nbsp;&nbsp; **65177561** |
| **Auto manufacturers: 0.91%** |  |  |  |  |
| Ford Motor Credit Co. LLC | 4.00 | &nbsp;&nbsp; 11-13-2030 | 14465000 | &nbsp;&nbsp; 13862615 |
| Ford Motor Credit Co. LLC | 5.13 | &nbsp;&nbsp; 11-5-2026 | 12630000 | &nbsp;&nbsp; 12702905 |
| Ford Motor Credit Co. LLC | 5.87 | &nbsp;&nbsp; 10-31-2035 | 18185000 | &nbsp;&nbsp; 18247316 |
| Hyundai Capital America144A | 4.50 | &nbsp;&nbsp; 9-18-2030 | 10410000 | &nbsp;&nbsp; 10510024 |
| Hyundai Capital America144A | 5.30 | &nbsp;&nbsp; 3-19-2027 | 3965000 | &nbsp;&nbsp; 4019476 |
| Hyundai Capital America144A | 5.40 | &nbsp;&nbsp; 6-23-2032 | 23469000 | &nbsp;&nbsp; 24639676 |
| Hyundai Capital America144A | 5.65 | &nbsp;&nbsp; 6-26-2026 | 2285000 | &nbsp;&nbsp; 2296481 |
| Hyundai Capital America144A | 5.80 | &nbsp;&nbsp; 4-1-2030 | 11235000 | &nbsp;&nbsp; 11863356 |
|  |  |  |  | &nbsp;&nbsp; **98141849** |

---

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

12 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Auto parts & equipment: 0.06%** |  |  |  |  |
| Adient Global Holdings Ltd.144A | 7.50<br> %<br>| &nbsp;&nbsp; 2-15-2033 | $5870000 | &nbsp;&nbsp; **$6160635** |
| **Entertainment: 0.08%** |  |  |  |  |
| Cinemark USA, Inc.144A | 5.25 | &nbsp;&nbsp; 7-15-2028 | 700000 | &nbsp;&nbsp; 700126 |
| Discovery Global Holdings, Inc. | 4.28 | &nbsp;&nbsp; 3-15-2032 | 8925000 | &nbsp;&nbsp; 8199844 |
|  |  |  |  | &nbsp;&nbsp; **8899970** |
| **Home builders: 0.21%** |  |  |  |  |
| Century Communities, Inc.144A | 6.63 | &nbsp;&nbsp; 9-15-2033 | 21490000 | &nbsp;&nbsp; 21836311 |
| LGI Homes, Inc.144A | 8.75 | &nbsp;&nbsp; 12-15-2028 | 710000 | &nbsp;&nbsp; 740787 |
|  |  |  |  | &nbsp;&nbsp; **22577098** |
| **Housewares: 0.01%** |  |  |  |  |
| Newell Brands, Inc. | 6.38 | &nbsp;&nbsp; 5-15-2030 | 1055000 | &nbsp;&nbsp; **1058236** |
| **Lodging: 0.14%** |  |  |  |  |
| Las Vegas Sands Corp. | 5.63 | &nbsp;&nbsp; 6-15-2028 | 7525000 | &nbsp;&nbsp; 7709428 |
| Las Vegas Sands Corp. | 6.20 | &nbsp;&nbsp; 8-15-2034 | 7390000 | &nbsp;&nbsp; 7803530 |
|  |  |  |  | &nbsp;&nbsp; **15512958** |
| **Retail: 0.16%** |  |  |  |  |
| Macy's Retail Holdings LLC144A | 5.88 | &nbsp;&nbsp; 3-15-2030 | 3288000 | &nbsp;&nbsp; 3303204 |
| Macy's Retail Holdings LLC144A | 6.13 | &nbsp;&nbsp; 3-15-2032 | 995000 | &nbsp;&nbsp; 1002222 |
| PetSmart LLC/PetSmart Finance Corp.144A | 7.50 | &nbsp;&nbsp; 9-15-2032 | 13180000 | &nbsp;&nbsp; 13336578 |
|  |  |  |  | &nbsp;&nbsp; **17642004** |
| **Toys/games/hobbies: 0.37%** |  |  |  |  |
| Hasbro, Inc. | 6.05 | &nbsp;&nbsp; 5-14-2034 | 8525000 | &nbsp;&nbsp; 9153994 |
| Mattel, Inc. | 5.00 | &nbsp;&nbsp; 11-17-2030 | 6965000 | &nbsp;&nbsp; 7071936 |
| Mattel, Inc. | 5.45 | &nbsp;&nbsp; 11-1-2041 | 8147000 | &nbsp;&nbsp; 7708945 |
| Mattel, Inc.144A | 5.88 | &nbsp;&nbsp; 12-15-2027 | 16020000 | &nbsp;&nbsp; 16023651 |
|  |  |  |  | &nbsp;&nbsp; **39958526** |
| **Consumer, non-cyclical: 2.71%** |  |  |  |  |
| **Agriculture: 0.16%** |  |  |  |  |
| BAT Capital Corp. | 4.76 | &nbsp;&nbsp; 9-6-2049 | 5825000 | &nbsp;&nbsp; 5020218 |
| BAT Capital Corp. | 6.25 | &nbsp;&nbsp; 8-15-2055 | 11680000 | &nbsp;&nbsp; 12191153 |
| Reynolds American, Inc. | 7.00 | &nbsp;&nbsp; 8-4-2041 | 285000 | &nbsp;&nbsp; 318742 |
|  |  |  |  | &nbsp;&nbsp; **17530113** |
| **Commercial services: 0.72%** |  |  |  |  |
| Block, Inc.144A | 6.00 | &nbsp;&nbsp; 8-15-2033 | 6840000 | &nbsp;&nbsp; 6950712 |
| Block, Inc. | 6.50 | &nbsp;&nbsp; 5-15-2032 | 5595000 | &nbsp;&nbsp; 5755907 |
| GEO Group, Inc. | 8.63 | &nbsp;&nbsp; 4-15-2029 | 2190000 | &nbsp;&nbsp; 2278730 |
| GEO Group, Inc. | 10.25 | &nbsp;&nbsp; 4-15-2031 | 1135000 | &nbsp;&nbsp; 1218679 |
| Global Payments, Inc. | 4.88 | &nbsp;&nbsp; 11-15-2030 | 19810000 | &nbsp;&nbsp; 19786771 |
| Global Payments, Inc. | 5.20 | &nbsp;&nbsp; 11-15-2032 | 14500000 | &nbsp;&nbsp; 14585431 |
| Global Payments, Inc. | 5.95 | &nbsp;&nbsp; 8-15-2052 | 8960000 | &nbsp;&nbsp; 8537192 |
| Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc. | 5.50 | &nbsp;&nbsp; 5-15-2033 | 10000000 | &nbsp;&nbsp; 11695567 |

---

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

Allspring Core Plus Bond Fund \| 13

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Commercial services**(continued) |  |  |  |  |
| &nbsp;&nbsp; Toll Road Investors Partnership II LP Series 1999-B <br> (NPFGC Insured)144A¤<br>| 0.00<br> %<br>| &nbsp;&nbsp; 2-15-2027 | $1050000 | &nbsp;&nbsp; $997056 |
| &nbsp;&nbsp; Toll Road Investors Partnership II LP Series 1999-B <br> (NPFGC Insured)144A¤<br>| 0.00 | &nbsp;&nbsp; 2-15-2028 | 1150000 | &nbsp;&nbsp; 1008954 |
| Upbound Group, Inc.144A | 6.38 | &nbsp;&nbsp; 2-15-2029 | 5750000 | &nbsp;&nbsp; 5692139 |
|  |  |  |  | &nbsp;&nbsp; **78507138** |
| **Cosmetics/Personal Care: 0.17%** |  |  |  |  |
| &nbsp;&nbsp; Coty, Inc./HFC Prestige Products, Inc./HFC Prestige <br> International U.S. LLC144A<br>| 4.75 | &nbsp;&nbsp; 1-15-2029 | 10000000 | &nbsp;&nbsp; 9835537 |
| &nbsp;&nbsp; Coty, Inc./HFC Prestige Products, Inc./HFC Prestige <br> International U.S. LLC144A<br>| 5.60 | &nbsp;&nbsp; 1-15-2031 | 8105000 | &nbsp;&nbsp; 8130717 |
|  |  |  |  | &nbsp;&nbsp; **17966254** |
| **Food: 0.45%** |  |  |  |  |
| Kroger Co. | 5.50 | &nbsp;&nbsp; 9-15-2054 | 11625000 | &nbsp;&nbsp; 11237926 |
| Mars, Inc.144A | 5.20 | &nbsp;&nbsp; 3-1-2035 | 23100000 | &nbsp;&nbsp; 23919183 |
| Mars, Inc.144A | 5.70 | &nbsp;&nbsp; 5-1-2055 | 13470000 | &nbsp;&nbsp; 13659302 |
|  |  |  |  | &nbsp;&nbsp; **48816411** |
| **Healthcare-products: 0.72%** |  |  |  |  |
| Abbott Laboratories%% | 4.65 | &nbsp;&nbsp; 3-15-2036 | 26000000 | &nbsp;&nbsp; 26007836 |
| Abbott Laboratories%% | 5.50 | &nbsp;&nbsp; 3-15-2056 | 22000000 | &nbsp;&nbsp; 22075634 |
| Danaher Corp. | 2.50 | &nbsp;&nbsp; 3-30-2030 | 2000000 | &nbsp;&nbsp; 2338806 |
| Medline Borrower LP144A | 3.88 | &nbsp;&nbsp; 4-1-2029 | 20712000 | &nbsp;&nbsp; 20370488 |
| Thermo Fisher Scientific, Inc. | 4.90 | &nbsp;&nbsp; 2-12-2036 | 7530000 | &nbsp;&nbsp; 7660559 |
|  |  |  |  | &nbsp;&nbsp; **78453323** |
| **Healthcare-services: 0.38%** |  |  |  |  |
| DaVita, Inc.144A | 6.75 | &nbsp;&nbsp; 7-15-2033 | 9775000 | &nbsp;&nbsp; 10149216 |
| UnitedHealth Group, Inc. | 4.65 | &nbsp;&nbsp; 1-15-2031 | 5905000 | &nbsp;&nbsp; 6035740 |
| UnitedHealth Group, Inc. | 5.05 | &nbsp;&nbsp; 4-15-2053 | 10975000 | &nbsp;&nbsp; 9977046 |
| UnitedHealth Group, Inc. | 5.30 | &nbsp;&nbsp; 6-15-2035 | 2480000 | &nbsp;&nbsp; 2587830 |
| UnitedHealth Group, Inc. | 5.63 | &nbsp;&nbsp; 7-15-2054 | 10790000 | &nbsp;&nbsp; 10645403 |
| UnitedHealth Group, Inc. | 5.95 | &nbsp;&nbsp; 6-15-2055 | 1305000 | &nbsp;&nbsp; 1351461 |
|  |  |  |  | &nbsp;&nbsp; **40746696** |
| **Pharmaceuticals: 0.11%** |  |  |  |  |
| Eli Lilly & Co. | 5.65 | &nbsp;&nbsp; 10-15-2065 | 11415000 | &nbsp;&nbsp; **11555820** |
| **Energy: 1.13%** |  |  |  |  |
| **Energy-alternate sources: 0.01%** |  |  |  |  |
| TerraForm Power Operating LLC144A | 4.75 | &nbsp;&nbsp; 1-15-2030 | 925000 | &nbsp;&nbsp; **904309** |
| **Oil & gas: 0.12%** |  |  |  |  |
| APA Corp. | 5.25 | &nbsp;&nbsp; 2-1-2042 | 5921000 | &nbsp;&nbsp; 5215649 |
| ConocoPhillips Co. | 5.65 | &nbsp;&nbsp; 1-15-2065 | 3975000 | &nbsp;&nbsp; 3904491 |
| Coterra Energy, Inc. | 5.90 | &nbsp;&nbsp; 2-15-2055 | 4490000 | &nbsp;&nbsp; 4466045 |
|  |  |  |  | &nbsp;&nbsp; **13586185** |

---

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

14 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Oil & gas services: 0.11%** |  |  |  |  |
| Schlumberger Holdings Corp.144A | 4.85<br> %<br>| &nbsp;&nbsp; 5-15-2033 | $11430000 | &nbsp;&nbsp; **$11633836** |
| **Pipelines: 0.89%** |  |  |  |  |
| Energy Transfer LP | 5.95 | &nbsp;&nbsp; 5-15-2054 | 23000000 | &nbsp;&nbsp; 22204543 |
| Energy Transfer LP | 6.20 | &nbsp;&nbsp; 4-1-2055 | 8405000 | &nbsp;&nbsp; 8403370 |
| &nbsp;&nbsp; Energy Transfer LP (5 Year Treasury Constant <br> Maturity+4.02%)±<br>| 8.00 | &nbsp;&nbsp; 5-15-2054 | 3575000 | &nbsp;&nbsp; 3835310 |
| Harvest Midstream I LP144A | 7.50 | &nbsp;&nbsp; 5-15-2032 | 1415000 | &nbsp;&nbsp; 1468746 |
| MPLX LP | 5.30 | &nbsp;&nbsp; 4-1-2036 | 12755000 | &nbsp;&nbsp; 12869872 |
| Prairie Acquiror LP144A | 9.00 | &nbsp;&nbsp; 8-1-2029 | 5050000 | &nbsp;&nbsp; 5269599 |
| South Bow USA Infrastructure Holdings LLC | 5.03 | &nbsp;&nbsp; 10-1-2029 | 17200000 | &nbsp;&nbsp; 17587058 |
| &nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance <br> Corp.144A<br>| 6.00 | &nbsp;&nbsp; 12-31-2030 | 12345000 | &nbsp;&nbsp; 12510435 |
| Venture Global LNG, Inc.144A | 9.50 | &nbsp;&nbsp; 2-1-2029 | 4520000 | &nbsp;&nbsp; 4847940 |
| &nbsp;&nbsp; Venture Global LNG, Inc. (5 Year Treasury Constant <br> Maturity+5.44%)144Aʊ±<br>| 9.00 | &nbsp;&nbsp; 9-30-2029 | 9055000 | &nbsp;&nbsp; 7919285 |
|  |  |  |  | &nbsp;&nbsp; **96916158** |
| **Financial: 8.16%** |  |  |  |  |
| **Banks: 3.02%** |  |  |  |  |
| &nbsp;&nbsp; Bank of America Corp. (5 Year Treasury Constant <br> Maturity+1.20%)±<br>| 2.48 | &nbsp;&nbsp; 9-21-2036 | 10785000 | &nbsp;&nbsp; 9543180 |
| Bank of America Corp. (U.S. SOFR+1.13%)± | 5.05 | &nbsp;&nbsp; 2-6-2037 | 11900000 | &nbsp;&nbsp; 12071638 |
| Bank of America Corp. (U.S. SOFR+1.74%)± | 5.52 | &nbsp;&nbsp; 10-25-2035 | 22135000 | &nbsp;&nbsp; 22715356 |
| Bank of America Corp. (U.S. SOFR+1.91%)± | 5.43 | &nbsp;&nbsp; 8-15-2035 | 7960000 | &nbsp;&nbsp; 8154340 |
| Bank of America Corp. (U.S. SOFR 3 Month+1.84%)± | 3.82 | &nbsp;&nbsp; 1-20-2028 | 6200000 | &nbsp;&nbsp; 6192166 |
| &nbsp;&nbsp; Bank of America Corp. Series OO (5 Year Treasury <br> Constant Maturity+2.68%)ʊ±<br>| 6.63 | &nbsp;&nbsp; 5-1-2030 | 9175000 | &nbsp;&nbsp; 9605390 |
| Citigroup, Inc. (U.S. SOFR+1.49%)± | 5.17 | &nbsp;&nbsp; 9-11-2036 | 12450000 | &nbsp;&nbsp; 12667337 |
| &nbsp;&nbsp; Citigroup, Inc. Series HH (5 Year Treasury Constant <br> Maturity+3.00%)ʊ±<br>| 6.63 | &nbsp;&nbsp; 2-15-2031 | 19600000 | &nbsp;&nbsp; 20262110 |
| Goldman Sachs Group, Inc. (U.S. SOFR+0.96%)± | 4.52 | &nbsp;&nbsp; 1-21-2032 | 12000000 | &nbsp;&nbsp; 12074098 |
| Goldman Sachs Group, Inc. (U.S. SOFR+1.19%)± | 5.07 | &nbsp;&nbsp; 1-21-2037 | 14340000 | &nbsp;&nbsp; 14440861 |
| Goldman Sachs Group, Inc. (U.S. SOFR+1.25%)± | 2.38 | &nbsp;&nbsp; 7-21-2032 | 15720000 | &nbsp;&nbsp; 14178712 |
| JPMorgan Chase & Co. (U.S. SOFR+0.84%)± | 4.35 | &nbsp;&nbsp; 1-22-2032 | 6810000 | &nbsp;&nbsp; 6844966 |
| JPMorgan Chase & Co. (U.S. SOFR+1.02%)± | 2.07 | &nbsp;&nbsp; 6-1-2029 | 16465000 | &nbsp;&nbsp; 15792810 |
| JPMorgan Chase & Co. (U.S. SOFR+1.31%)± | 5.01 | &nbsp;&nbsp; 1-23-2030 | 13975000 | &nbsp;&nbsp; 14357089 |
| JPMorgan Chase & Co. (U.S. SOFR+1.45%)± | 5.30 | &nbsp;&nbsp; 7-24-2029 | 5170000 | &nbsp;&nbsp; 5321435 |
| JPMorgan Chase & Co. (U.S. SOFR+1.64%)± | 5.58 | &nbsp;&nbsp; 7-23-2036 | 26465000 | &nbsp;&nbsp; 27523501 |
| Morgan Stanley Private Bank NA (U.S. SOFR+1.08%)± | 4.73 | &nbsp;&nbsp; 7-18-2031 | 19395000 | &nbsp;&nbsp; 19749862 |
| &nbsp;&nbsp; Morgan Stanley (5 Year Treasury Constant <br> Maturity+1.17%)±<br>| 5.31 | &nbsp;&nbsp; 1-18-2041 | 8380000 | &nbsp;&nbsp; 8337418 |
| Morgan Stanley (U.S. SOFR+1.20%)± | 2.51 | &nbsp;&nbsp; 10-20-2032 | 12080000 | &nbsp;&nbsp; 10947873 |
| Morgan Stanley (U.S. SOFR+1.22%)± | 5.04 | &nbsp;&nbsp; 7-19-2030 | 7235000 | &nbsp;&nbsp; 7444411 |
| Morgan Stanley (U.S. SOFR+1.59%)± | 5.16 | &nbsp;&nbsp; 4-20-2029 | 8265000 | &nbsp;&nbsp; 8452620 |
| Morgan Stanley (U.S. SOFR+1.71%)± | 5.52 | &nbsp;&nbsp; 11-19-2055 | 12570000 | &nbsp;&nbsp; 12537012 |
| Morgan Stanley (U.S. SOFR+1.73%)± | 5.12 | &nbsp;&nbsp; 2-1-2029 | 10725000 | &nbsp;&nbsp; 10947352 |
| Morgan Stanley (U.S. SOFR+1.76%)± | 5.66 | &nbsp;&nbsp; 4-17-2036 | 4845000 | &nbsp;&nbsp; 5120176 |
| Morgan Stanley (U.S. SOFR+1.83%)± | 6.41 | &nbsp;&nbsp; 11-1-2029 | 14845000 | &nbsp;&nbsp; 15718024 |

---

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

Allspring Core Plus Bond Fund \| 15

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Banks**(continued) |  |  |  |  |
| National Securities Clearing Corp.144A | 5.00<br> %<br>| &nbsp;&nbsp; 5-30-2028 | $5165000 | &nbsp;&nbsp; $5290426 |
| Wells Fargo & Co. (U.S. SOFR 3 Month+4.50%)± | 5.01 | &nbsp;&nbsp; 4-4-2051 | 11530000 | &nbsp;&nbsp; 10548167 |
|  |  |  |  | &nbsp;&nbsp; **326838330** |
| **Diversified financial services: 1.63%** |  |  |  |  |
| Aircastle Ltd.144A | 5.95 | &nbsp;&nbsp; 2-15-2029 | 7925000 | &nbsp;&nbsp; 8298373 |
| American Express Co. (U.S. SOFR+1.22%)± | 4.92 | &nbsp;&nbsp; 7-20-2033 | 3365000 | &nbsp;&nbsp; 3447011 |
| American Express Co. (U.S. SOFR+1.24%)± | 4.80 | &nbsp;&nbsp; 10-24-2036 | 28295000 | &nbsp;&nbsp; 28022954 |
| Ares Finance Co. II LLC144A | 3.25 | &nbsp;&nbsp; 6-15-2030 | 13170000 | &nbsp;&nbsp; 12610640 |
| Capital One Financial Corp. (U.S. SOFR+1.51%)± | 5.40 | &nbsp;&nbsp; 1-30-2037 | 33000000 | &nbsp;&nbsp; 33299478 |
| Citadel Finance LLC144A | 3.38 | &nbsp;&nbsp; 3-9-2026 | 8215000 | &nbsp;&nbsp; 8212918 |
| Citadel Finance LLC144A | 5.15 | &nbsp;&nbsp; 2-14-2031 | 7475000 | &nbsp;&nbsp; 7444853 |
| Citadel Finance LLC144A | 5.90 | &nbsp;&nbsp; 2-10-2030 | 13820000 | &nbsp;&nbsp; 14179207 |
| Computershare U.S., Inc. | 1.13 | &nbsp;&nbsp; 10-7-2031 | 7450000 | &nbsp;&nbsp; 7778337 |
| Equitable America Global Funding144A | 4.95 | &nbsp;&nbsp; 6-9-2030 | 21885000 | &nbsp;&nbsp; 22359318 |
| Jefferies Financial Group, Inc. | 5.50 | &nbsp;&nbsp; 2-15-2036 | 14635000 | &nbsp;&nbsp; 14393450 |
| PRA Group, Inc.144A | 5.00 | &nbsp;&nbsp; 10-1-2029 | 970000 | &nbsp;&nbsp; 895366 |
| TPG Operating Group II LP | 5.88 | &nbsp;&nbsp; 3-5-2034 | 6843000 | &nbsp;&nbsp; 7086325 |
| United Wholesale Mortgage LLC144A | 5.50 | &nbsp;&nbsp; 4-15-2029 | 1025000 | &nbsp;&nbsp; 1005251 |
| Western Union Co.%% | 4.75 | &nbsp;&nbsp; 6-15-2029 | 7885000 | &nbsp;&nbsp; 7903260 |
|  |  |  |  | &nbsp;&nbsp; **176936741** |
| **Insurance: 2.23%** |  |  |  |  |
| Athene Global Funding144A | 5.03 | &nbsp;&nbsp; 7-17-2030 | 13900000 | &nbsp;&nbsp; 13979233 |
| Athene Global Funding144A | 5.54 | &nbsp;&nbsp; 8-22-2035 | 16530000 | &nbsp;&nbsp; 16461859 |
| Cincinnati Financial Corp. | 6.13 | &nbsp;&nbsp; 11-1-2034 | 12735000 | &nbsp;&nbsp; 13758827 |
| Corebridge Global Funding144A | 4.55 | &nbsp;&nbsp; 1-9-2031 | 14805000 | &nbsp;&nbsp; 14851034 |
| Guardian Life Insurance Co. of America144A | 4.85 | &nbsp;&nbsp; 1-24-2077 | 13670000 | &nbsp;&nbsp; 11500336 |
| Loews Corp. | 4.94 | &nbsp;&nbsp; 4-1-2036 | 13080000 | &nbsp;&nbsp; 13048245 |
| &nbsp;&nbsp; MetLife, Inc. (5 Year Treasury Constant <br> Maturity+1.82%)±<br>| 5.85 | &nbsp;&nbsp; 3-15-2056 | 16180000 | &nbsp;&nbsp; 16065845 |
| New York Life Insurance Co.144A | 3.75 | &nbsp;&nbsp; 5-15-2050 | 6500000 | &nbsp;&nbsp; 4907989 |
| New York Life Insurance Co.144A | 5.88 | &nbsp;&nbsp; 5-15-2033 | 13030000 | &nbsp;&nbsp; 13949156 |
| Northwestern Mutual Life Insurance Co.144A | 3.45 | &nbsp;&nbsp; 3-30-2051 | 18575000 | &nbsp;&nbsp; 13300872 |
| Northwestern Mutual Life Insurance Co.144A | 6.17 | &nbsp;&nbsp; 5-29-2055 | 6240000 | &nbsp;&nbsp; 6732820 |
| Omnis Funding Trust144A | 6.72 | &nbsp;&nbsp; 5-15-2055 | 19735000 | &nbsp;&nbsp; 20570824 |
| &nbsp;&nbsp; PartnerRe Finance B LLC (5 Year Treasury Constant <br> Maturity+3.82%)±<br>| 4.50 | &nbsp;&nbsp; 10-1-2050 | 7490000 | &nbsp;&nbsp; 7239080 |
| Protective Life Corp.144A | 4.70 | &nbsp;&nbsp; 1-15-2031 | 11090000 | &nbsp;&nbsp; 11197653 |
| Protective Life Corp.144A | 5.35 | &nbsp;&nbsp; 12-15-2035 | 10145000 | &nbsp;&nbsp; 10294187 |
| &nbsp;&nbsp; Prudential Financial, Inc. (5 Year Treasury Constant <br> Maturity+3.04%)±<br>| 3.70 | &nbsp;&nbsp; 10-1-2050 | 9136000 | &nbsp;&nbsp; 8501151 |
| &nbsp;&nbsp; Prudential Financial, Inc. (5 Year Treasury Constant <br> Maturity+3.16%)±<br>| 5.13 | &nbsp;&nbsp; 3-1-2052 | 2265000 | &nbsp;&nbsp; 2225820 |
| RGA Global Funding144A | 4.60 | &nbsp;&nbsp; 11-25-2030 | 14040000 | &nbsp;&nbsp; 14147088 |
| RGA Global Funding144A | 5.05 | &nbsp;&nbsp; 12-6-2031 | 12901000 | &nbsp;&nbsp; 13232604 |

---

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

16 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Insurance**(continued) |  |  |  |  |
| Transatlantic Holdings, Inc. | 8.00<br> %<br>| &nbsp;&nbsp; 11-30-2039 | $6994000 | &nbsp;&nbsp; $8760196 |
| Unum Group144A | 4.05 | &nbsp;&nbsp; 8-15-2041 | 8788000 | &nbsp;&nbsp; 7291063 |
|  |  |  |  | &nbsp;&nbsp; **242015882** |
| **Investment Companies: 0.54%** |  |  |  |  |
| Ares Capital Corp. BDC | 5.10 | &nbsp;&nbsp; 1-15-2031 | 13545000 | &nbsp;&nbsp; 13218863 |
| Ares Capital Corp. BDC | 5.50 | &nbsp;&nbsp; 9-1-2030 | 11160000 | &nbsp;&nbsp; 11049377 |
| Ares Capital Corp. BDC | 5.88 | &nbsp;&nbsp; 3-1-2029 | 6035000 | &nbsp;&nbsp; 6146578 |
| Ares Strategic Income Fund BDC | 5.70 | &nbsp;&nbsp; 3-15-2028 | 12440000 | &nbsp;&nbsp; 12537787 |
| Blue Owl Capital Corp. BDC | 5.95 | &nbsp;&nbsp; 3-15-2029 | 15000000 | &nbsp;&nbsp; 14922987 |
|  |  |  |  | &nbsp;&nbsp; **57875592** |
| **Real estate: 0.08%** |  |  |  |  |
| CBRE Services, Inc. | 4.90 | &nbsp;&nbsp; 1-15-2033 | 8970000 | &nbsp;&nbsp; **9082867** |
| **REITs: 0.66%** |  |  |  |  |
| Alexandria Real Estate Equities, Inc. | 5.15 | &nbsp;&nbsp; 4-15-2053 | 7870000 | &nbsp;&nbsp; 7141391 |
| Alexandria Real Estate Equities, Inc. | 5.25 | &nbsp;&nbsp; 3-15-2036 | 10850000 | &nbsp;&nbsp; 10856832 |
| EPR Properties | 3.60 | &nbsp;&nbsp; 11-15-2031 | 6425000 | &nbsp;&nbsp; 6023504 |
| Essential Properties LP | 2.95 | &nbsp;&nbsp; 7-15-2031 | 16938000 | &nbsp;&nbsp; 15633596 |
| &nbsp;&nbsp; Ladder Capital Finance Holdings LLLP/Ladder Capital <br> Finance Corp.144A<br>| 7.00 | &nbsp;&nbsp; 7-15-2031 | 710000 | &nbsp;&nbsp; 748657 |
| Piedmont Operating Partnership LP | 2.75 | &nbsp;&nbsp; 4-1-2032 | 2670000 | &nbsp;&nbsp; 2326108 |
| Piedmont Operating Partnership LP | 9.25 | &nbsp;&nbsp; 7-20-2028 | 7163000 | &nbsp;&nbsp; 7888944 |
| Realty Income Corp. | 5.13 | &nbsp;&nbsp; 7-6-2034 | 4700000 | &nbsp;&nbsp; 6150225 |
| SBA Tower Trust144A | 1.63 | &nbsp;&nbsp; 11-15-2026 | 6595000 | &nbsp;&nbsp; 6482284 |
| Vornado Realty LP | 5.75 | &nbsp;&nbsp; 2-1-2033 | 8300000 | &nbsp;&nbsp; 8421288 |
|  |  |  |  | &nbsp;&nbsp; **71672829** |
| **Industrial: 0.76%** |  |  |  |  |
| **Aerospace/defense: 0.06%** |  |  |  |  |
| Boeing Co. | 5.81 | &nbsp;&nbsp; 5-1-2050 | 6600000 | &nbsp;&nbsp; **6626665** |
| **Building materials: 0.03%** |  |  |  |  |
| Camelot Return Merger Sub, Inc.144A | 8.75 | &nbsp;&nbsp; 8-1-2028 | 5000000 | &nbsp;&nbsp; **3775057** |
| **Electronics: 0.04%** |  |  |  |  |
| Sensata Technologies, Inc.144A | 6.63 | &nbsp;&nbsp; 7-15-2032 | 4125000 | &nbsp;&nbsp; **4318000** |
| **Engineering & construction: 0.24%** |  |  |  |  |
| Jacobs Solutions, Inc.%% | 4.75 | &nbsp;&nbsp; 3-3-2031 | 16145000 | &nbsp;&nbsp; 16169569 |
| Jacobs Solutions, Inc.%% | 5.38 | &nbsp;&nbsp; 3-3-2036 | 9310000 | &nbsp;&nbsp; 9311571 |
|  |  |  |  | &nbsp;&nbsp; **25481140** |
| **Miscellaneous manufacturing: 0.15%** |  |  |  |  |
| Entegris, Inc.144A | 4.75 | &nbsp;&nbsp; 4-15-2029 | 15830000 | &nbsp;&nbsp; **15843155** |
| **Trucking & leasing: 0.24%** |  |  |  |  |
| FTAI Aviation Investors LLC144A | 7.00 | &nbsp;&nbsp; 6-15-2032 | 24680000 | &nbsp;&nbsp; **25906670** |

---

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

Allspring Core Plus Bond Fund \| 17

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Technology: 1.52%** |  |  |  |  |
| **Computers: 0.09%** |  |  |  |  |
| Hewlett Packard Enterprise Co. | 5.60<br> %<br>| &nbsp;&nbsp; 10-15-2054 | $10950000 | &nbsp;&nbsp; **$10077561** |
| **Semiconductors: 0.39%** |  |  |  |  |
| Foundry JV Holdco LLC144A | 6.20 | &nbsp;&nbsp; 1-25-2037 | 33455000 | &nbsp;&nbsp; 35826674 |
| Intel Corp. | 2.80 | &nbsp;&nbsp; 8-12-2041 | 3490000 | &nbsp;&nbsp; 2485207 |
| Intel Corp. | 3.25 | &nbsp;&nbsp; 11-15-2049 | 5915000 | &nbsp;&nbsp; 3872517 |
|  |  |  |  | &nbsp;&nbsp; **42184398** |
| **Software: 1.04%** |  |  |  |  |
| Cloud Software Group, Inc.144A | 8.25 | &nbsp;&nbsp; 6-30-2032 | 10000000 | &nbsp;&nbsp; 10008378 |
| Intuit, Inc. | 5.50 | &nbsp;&nbsp; 9-15-2053 | 13005000 | &nbsp;&nbsp; 12308342 |
| Oracle Corp. | 3.85 | &nbsp;&nbsp; 4-1-2060 | 6405000 | &nbsp;&nbsp; 3896448 |
| Oracle Corp. | 4.45 | &nbsp;&nbsp; 9-26-2030 | 19875000 | &nbsp;&nbsp; 19492479 |
| Oracle Corp. | 4.55 | &nbsp;&nbsp; 2-4-2029 | 7100000 | &nbsp;&nbsp; 7113474 |
| Oracle Corp. | 5.70 | &nbsp;&nbsp; 2-4-2036 | 34835000 | &nbsp;&nbsp; 34854511 |
| Oracle Corp. | 5.95 | &nbsp;&nbsp; 9-26-2055 | 13870000 | &nbsp;&nbsp; 12205512 |
| Oracle Corp. | 6.70 | &nbsp;&nbsp; 2-4-2056 | 13320000 | &nbsp;&nbsp; 12917206 |
|  |  |  |  | &nbsp;&nbsp; **112796350** |
| **Utilities: 2.12%** |  |  |  |  |
| **Electric: 2.03%** |  |  |  |  |
| AES Corp. (5 Year Treasury Constant Maturity+3.20%)± | 7.60 | &nbsp;&nbsp; 1-15-2055 | 935000 | &nbsp;&nbsp; 939809 |
| Basin Electric Power Cooperative144A | 5.85 | &nbsp;&nbsp; 10-15-2055 | 7500000 | &nbsp;&nbsp; 7548648 |
| CenterPoint Energy Houston Electric LLC Series AR | 4.85 | &nbsp;&nbsp; 4-1-2036 | 8645000 | &nbsp;&nbsp; 8671728 |
| &nbsp;&nbsp; Dominion Energy, Inc. (5 Year Treasury Constant <br> Maturity+2.21%)±<br>| 6.63 | &nbsp;&nbsp; 5-15-2055 | 9465000 | &nbsp;&nbsp; 9825115 |
| Duke Energy Corp. | 3.10 | &nbsp;&nbsp; 6-15-2028 | 1600000 | &nbsp;&nbsp; 1908414 |
| Duke Energy Corp. | 3.85 | &nbsp;&nbsp; 6-15-2034 | 7400000 | &nbsp;&nbsp; 8858339 |
| Duke Energy Florida LLC | 4.85 | &nbsp;&nbsp; 12-1-2035 | 6800000 | &nbsp;&nbsp; 6851954 |
| Duke Energy Indiana LLC | 5.40 | &nbsp;&nbsp; 4-1-2053 | 8165000 | &nbsp;&nbsp; 7902760 |
| Entergy Louisiana LLC | 5.65 | &nbsp;&nbsp; 4-15-2056 | 8725000 | &nbsp;&nbsp; 8657124 |
| Entergy Mississippi LLC | 5.80 | &nbsp;&nbsp; 4-15-2055 | 5970000 | &nbsp;&nbsp; 6053105 |
| &nbsp;&nbsp; EUSHI Finance, Inc. (5 Year Treasury Constant <br> Maturity+3.14%)±<br>| 7.63 | &nbsp;&nbsp; 12-15-2054 | 11345000 | &nbsp;&nbsp; 11976746 |
| &nbsp;&nbsp; Evergy, Inc. (5 Year Treasury Constant <br> Maturity+2.56%)±<br>| 6.65 | &nbsp;&nbsp; 6-1-2055 | 8790000 | &nbsp;&nbsp; 9050325 |
| Niagara Mohawk Power Corp.144A | 6.00 | &nbsp;&nbsp; 7-3-2055 | 24000000 | &nbsp;&nbsp; 24505796 |
| NRG Energy, Inc.144A | 5.41 | &nbsp;&nbsp; 10-15-2035 | 9350000 | &nbsp;&nbsp; 9449718 |
| PacifiCorp | 5.80 | &nbsp;&nbsp; 1-15-2055 | 11280000 | &nbsp;&nbsp; 10744759 |
| PG&E Corp. | 5.25 | &nbsp;&nbsp; 7-1-2030 | 1055000 | &nbsp;&nbsp; 1055874 |
| &nbsp;&nbsp; PG&E Corp. (5 Year Treasury Constant <br> Maturity+3.88%)±<br>| 7.38 | &nbsp;&nbsp; 3-15-2055 | 17235000 | &nbsp;&nbsp; 17829659 |
| PSEG Power LLC144A | 5.75 | &nbsp;&nbsp; 5-15-2035 | 12505000 | &nbsp;&nbsp; 13094762 |
| Sempra (5 Year Treasury Constant Maturity+2.35%)± | 6.63 | &nbsp;&nbsp; 4-1-2055 | 11850000 | &nbsp;&nbsp; 12045146 |
| Southern California Edison Co. | 3.65 | &nbsp;&nbsp; 2-1-2050 | 1655000 | &nbsp;&nbsp; 1186058 |
| Southern California Edison Co. | 5.75 | &nbsp;&nbsp; 4-15-2054 | 9175000 | &nbsp;&nbsp; 8830496 |
| Vistra Operations Co. LLC144A | 3.70 | &nbsp;&nbsp; 1-30-2027 | 1175000 | &nbsp;&nbsp; 1169572 |
| Vistra Operations Co. LLC144A | 4.60 | &nbsp;&nbsp; 10-15-2030 | 11510000 | &nbsp;&nbsp; 11582835 |

---

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

18 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Electric**(continued) |  |  |  |  |
| Vistra Operations Co. LLC144A | 5.00<br> %<br>| &nbsp;&nbsp; 7-31-2027 | $9215000 | &nbsp;&nbsp; $9201712 |
| Vistra Operations Co. LLC144A | 5.35 | &nbsp;&nbsp; 1-31-2036 | 11740000 | &nbsp;&nbsp; 11821276 |
|  |  |  |  | &nbsp;&nbsp; **220761730** |
| **Gas: 0.09%** |  |  |  |  |
| Brooklyn Union Gas Co.144A | 6.39 | &nbsp;&nbsp; 9-15-2033 | 8755000 | &nbsp;&nbsp; **9497644** |
| **Total corporate bonds and notes (Cost $2,359,826,897)** |  |  |  | &nbsp;&nbsp; **2396809732** |
| **Foreign corporate bonds and notes: 2.95%** |  |  |  |  |
| **Communications: 0.87%** |  |  |  |  |
| **Internet: 0.02%** |  |  |  |  |
| United Group BV144A | 6.50 | &nbsp;&nbsp; 10-31-2031 | 1400000 | &nbsp;&nbsp; **1721410** |
| **Media: 0.10%** |  |  |  |  |
| Ziggo BV | 2.88 | &nbsp;&nbsp; 1-15-2030 | 10000000 | &nbsp;&nbsp; **11250953** |
| **Telecommunications: 0.75%** |  |  |  |  |
| British Telecommunications PLC | 3.13 | &nbsp;&nbsp; 2-11-2032 | 5250000 | &nbsp;&nbsp; 6172153 |
| &nbsp;&nbsp; British Telecommunications PLC (UK Gilts 5 <br> Year+3.82%)±<br>| 8.38 | &nbsp;&nbsp; 12-20-2083 | 5000000 | &nbsp;&nbsp; 7261886 |
| BT Finance PLC | 3.38 | &nbsp;&nbsp; 11-17-2032 | 5400000 | &nbsp;&nbsp; 6388944 |
| Chorus Ltd. | 3.53 | &nbsp;&nbsp; 11-26-2032 | 5400000 | &nbsp;&nbsp; 6423219 |
| Eutelsat SA | 1.50 | &nbsp;&nbsp; 10-13-2028 | 1600000 | &nbsp;&nbsp; 1829485 |
| Fibercop SpA | 1.63 | &nbsp;&nbsp; 1-18-2029 | 5824000 | &nbsp;&nbsp; 6593405 |
| Koninklijke KPN NV | 3.88 | &nbsp;&nbsp; 7-3-2031 | 4600000 | &nbsp;&nbsp; 5662508 |
| Lorca Telecom Bondco SA | 4.00 | &nbsp;&nbsp; 9-18-2027 | 744681 | &nbsp;&nbsp; 880740 |
| SES SA (EURIBOR ICE Swap Rate 11:00am+3.23%)± | 5.50 | &nbsp;&nbsp; 9-12-2054 | 10295000 | &nbsp;&nbsp; 11968900 |
| Telecom Italia SpA | 1.63 | &nbsp;&nbsp; 1-18-2029 | 3376000 | &nbsp;&nbsp; 3852742 |
| Telefonaktiebolaget LM Ericsson | 1.00 | &nbsp;&nbsp; 5-26-2029 | 1550000 | &nbsp;&nbsp; 1727708 |
| &nbsp;&nbsp; Telefonica Europe BV (EUR Swap Annual (vs. 6 Month <br> EURIBOR) 7 Year+3.35%)ʊ±<br>| 6.14 | &nbsp;&nbsp; 2-3-2030 | 5000000 | &nbsp;&nbsp; 6339212 |
| VMED O2 U.K. Financing I PLC | 5.63 | &nbsp;&nbsp; 4-15-2032 | 5000000 | &nbsp;&nbsp; 5736445 |
| &nbsp;&nbsp; Vodafone Group PLC (EUR Swap Annual (vs. 6 Month <br> EURIBOR) 5 Year+3.48%)±<br>| 3.00 | &nbsp;&nbsp; 8-27-2080 | 4535000 | &nbsp;&nbsp; 5204314 |
| Zegona Finance PLC144A | 6.75 | &nbsp;&nbsp; 7-15-2029 | 4500000 | &nbsp;&nbsp; 5565209 |
|  |  |  |  | &nbsp;&nbsp; **81606870** |
| **Consumer, cyclical: 0.29%** |  |  |  |  |
| **Auto manufacturers: 0.06%** |  |  |  |  |
| RCI Banque SA | 3.63 | &nbsp;&nbsp; 11-3-2032 | 5400000 | &nbsp;&nbsp; **6358446** |
| **Entertainment: 0.06%** |  |  |  |  |
| Banijay Entertainment SASU144A | 7.00 | &nbsp;&nbsp; 5-1-2029 | 1400000 | &nbsp;&nbsp; 1711087 |
| Universal Music Group NV | 4.00 | &nbsp;&nbsp; 6-13-2031 | 3800000 | &nbsp;&nbsp; 4658138 |
|  |  |  |  | &nbsp;&nbsp; **6369225** |

---

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

Allspring Core Plus Bond Fund \| 19

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Leisure time: 0.07%** |  |  |  |  |  |
| TUI AG | 5.88<br> %<br>| &nbsp;&nbsp; 3-15-2029 | EUR | 5030000 | &nbsp;&nbsp; $6127257 |
| TUI Cruises GmbH144A | 5.00 | &nbsp;&nbsp; 5-15-2030 | EUR | 1400000 | &nbsp;&nbsp; 1707335 |
|  |  |  |  |  | &nbsp;&nbsp; **7834592** |
| **Lodging: 0.02%** |  |  |  |  |  |
| Essendi SA | 5.50 | &nbsp;&nbsp; 11-15-2031 | EUR | 1400000 | &nbsp;&nbsp; **1709924** |
| **Retail: 0.08%** |  |  |  |  |  |
| Dufry One BV | 4.50 | &nbsp;&nbsp; 5-23-2032 | EUR | 4123000 | &nbsp;&nbsp; 5031278 |
| Fressnapf Holding SE | 5.25 | &nbsp;&nbsp; 10-31-2031 | EUR | 3323000 | &nbsp;&nbsp; 3986469 |
|  |  |  |  |  | &nbsp;&nbsp; **9017747** |
| **Consumer, non-cyclical: 0.44%** |  |  |  |  |  |
| **Agriculture: 0.06%** |  |  |  |  |  |
| BAT International Finance PLC | 2.25 | &nbsp;&nbsp; 1-16-2030 | EUR | 5250000 | &nbsp;&nbsp; **6034762** |
| **Beverages: 0.04%** |  |  |  |  |  |
| Anheuser-Busch InBev SA | 1.13 | &nbsp;&nbsp; 7-1-2027 | EUR | 4000000 | &nbsp;&nbsp; **4652000** |
| **Commercial services: 0.15%** |  |  |  |  |  |
| Nexi SpA | 2.13 | &nbsp;&nbsp; 4-30-2029 | EUR | 6000000 | &nbsp;&nbsp; 6850395 |
| Rentokil Initial Finance BV | 3.88 | &nbsp;&nbsp; 6-27-2027 | EUR | 3000000 | &nbsp;&nbsp; 3597380 |
| Transurban Finance Co. Pty. Ltd. | 4.23 | &nbsp;&nbsp; 4-26-2033 | EUR | 3000000 | &nbsp;&nbsp; 3738769 |
| Verisure Holding AB | 5.50 | &nbsp;&nbsp; 5-15-2030 | EUR | 1345000 | &nbsp;&nbsp; 1638762 |
|  |  |  |  |  | &nbsp;&nbsp; **15825306** |
| **Food: 0.13%** |  |  |  |  |  |
| Iceland Bondco PLC | 10.88 | &nbsp;&nbsp; 12-15-2027 | GBP | 4814000 | &nbsp;&nbsp; 6862033 |
| Market Bidco Finco PLC | 5.50 | &nbsp;&nbsp; 11-4-2027 | GBP | 5000000 | &nbsp;&nbsp; 6740197 |
|  |  |  |  |  | &nbsp;&nbsp; **13602230** |
| **Healthcare-services: 0.01%** |  |  |  |  |  |
| Ephios Subco 3 Sarl | 7.88 | &nbsp;&nbsp; 1-31-2031 | EUR | 1300000 | &nbsp;&nbsp; **1639871** |
| **Pharmaceuticals: 0.05%** |  |  |  |  |  |
| &nbsp;&nbsp; Bayer AG (EUR Swap Annual (vs. 6 Month EURIBOR) 5 <br> Year+3.11%)±<br>| 3.13 | &nbsp;&nbsp; 11-12-2079 | EUR | 5000000 | &nbsp;&nbsp; **5859955** |
| **Energy: 0.07%** |  |  |  |  |  |
| **Oil & gas: 0.07%** |  |  |  |  |  |
| Aker BP ASA | 1.13 | &nbsp;&nbsp; 5-12-2029 | EUR | 1200000 | &nbsp;&nbsp; 1340012 |
| &nbsp;&nbsp; Repsol International Finance BV (EUR Swap Annual (vs. <br> 6 Month EURIBOR) 5 Year+2.77%)ʊ±<br>| 2.50 | &nbsp;&nbsp; 12-22-2026 | EUR | 500000 | &nbsp;&nbsp; 588243 |
| &nbsp;&nbsp; Wintershall Dea Finance 2 BV Series NC8 (EUR Swap <br> Annual (vs. 6 Month EURIBOR) 5 Year+3.32%)ʊ±<br>| 3.00 | &nbsp;&nbsp; 7-20-2028 | EUR | 5000000 | &nbsp;&nbsp; 5710484 |
|  |  |  |  |  | &nbsp;&nbsp; **7638739** |

---

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

20 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Financial: 0.67%** |  |  |  |  |  |
| **Banks: 0.53%** |  |  |  |  |  |
| &nbsp;&nbsp; ABN AMRO Bank NV (EUR Swap Annual (vs. 6 Month <br> EURIBOR) 5 Year+3.90%)ʊ±<br>| 4.75<br> %<br>| &nbsp;&nbsp; 9-22-2027 | EUR | 4900000 | &nbsp;&nbsp; $5876688 |
| &nbsp;&nbsp; BAWAG Group AG (EURIBOR ICE Swap Rate <br> 11:00am+5.05%)ʊ±<br>| 7.25 | &nbsp;&nbsp; 9-18-2029 | EUR | 5000000 | &nbsp;&nbsp; 6343716 |
| &nbsp;&nbsp; CaixaBank SA (EUR Swap Annual (vs. 6 Month EURIBOR) <br> 5 Year+3.55%)±<br>| 6.25 | &nbsp;&nbsp; 2-23-2033 | EUR | 2800000 | &nbsp;&nbsp; 3492672 |
| &nbsp;&nbsp; Credit Agricole SA (EURIBOR ICE Swap Rate <br> 11:00am+4.44%)ʊ±<br>| 7.25 | &nbsp;&nbsp; 9-23-2028 | EUR | 4700000 | &nbsp;&nbsp; 5983918 |
| Deutsche Bank AG (3 Month EURIBOR+1.50%)± | 4.13 | &nbsp;&nbsp; 4-4-2030 | EUR | 5000000 | &nbsp;&nbsp; 6103652 |
| Deutsche Bank AG (3 Month EURIBOR+2.95%)± | 5.00 | &nbsp;&nbsp; 9-5-2030 | EUR | 1500000 | &nbsp;&nbsp; 1881403 |
| &nbsp;&nbsp; KBC Group NV (EURIBOR ICE Swap Rate <br> 11:00am+4.93%)ʊ±<br>| 8.00 | &nbsp;&nbsp; 9-5-2028 | EUR | 5800000 | &nbsp;&nbsp; 7528308 |
| &nbsp;&nbsp; Nykredit Realkredit AS (EUR Swap Annual (vs. 6 Month <br> EURIBOR) 5 Year+4.57%)ʊ±<br>| 4.13 | &nbsp;&nbsp; 4-15-2026 | EUR | 5400000 | &nbsp;&nbsp; 6390882 |
| &nbsp;&nbsp; Raiffeisen Bank International AG (EURIBOR ICE Swap <br> Rate 11:00am+5.20%)±<br>| 7.38 | &nbsp;&nbsp; 12-20-2032 | EUR | 5900000 | &nbsp;&nbsp; 7395390 |
| &nbsp;&nbsp; UBS Group AG (EURIBOR ICE Swap Rate <br> 11:00am+4.95%)±<br>| 7.75 | &nbsp;&nbsp; 3-1-2029 | EUR | 4700000 | &nbsp;&nbsp; 6088375 |
|  |  |  |  |  | &nbsp;&nbsp; **57085004** |
| **Insurance: 0.03%** |  |  |  |  |  |
| AXA SA | 3.63 | &nbsp;&nbsp; 1-10-2033 | EUR | 2950000 | &nbsp;&nbsp; **3585716** |
| **Real estate: 0.11%** |  |  |  |  |  |
| Aroundtown SA | 3.25 | &nbsp;&nbsp; 1-2-2031 | EUR | 5500000 | &nbsp;&nbsp; 6398039 |
| &nbsp;&nbsp; Castellum AB (EUR Swap Annual (vs. 6 Month EURIBOR) <br> 5 Year+3.45%)ʊ±<br>| 3.13 | &nbsp;&nbsp; 12-2-2026 | EUR | 5000000 | &nbsp;&nbsp; 5864234 |
|  |  |  |  |  | &nbsp;&nbsp; **12262273** |
| **Government securities: 0.10%** |  |  |  |  |  |
| **Multi-national: 0.10%** |  |  |  |  |  |
| Banque Ouest Africaine de Developpement | 2.75 | &nbsp;&nbsp; 1-22-2033 | EUR | 10350000 | &nbsp;&nbsp; **10500761** |
| **Industrial: 0.06%** |  |  |  |  |  |
| **Engineering & construction: 0.05%** |  |  |  |  |  |
| Infrastrutture Wireless Italiane SpA | 1.75 | &nbsp;&nbsp; 4-19-2031 | EUR | 4800000 | &nbsp;&nbsp; **5364745** |
| **Packaging & containers: 0.01%** |  |  |  |  |  |
| OI European Group BV | 6.25 | &nbsp;&nbsp; 5-15-2028 | EUR | 1400000 | &nbsp;&nbsp; **1691536** |
| **Technology: 0.05%** |  |  |  |  |  |
| **Computers: 0.05%** |  |  |  |  |  |
| Almaviva-The Italian Innovation Co. SpA144A | 5.00 | &nbsp;&nbsp; 10-30-2030 | EUR | 5000000 | &nbsp;&nbsp; **5728138** |
| **Utilities: 0.40%** |  |  |  |  |  |
| **Electric: 0.25%** |  |  |  |  |  |
| Contact Energy Ltd. | 3.54 | &nbsp;&nbsp; 11-3-2032 | EUR | 5400000 | &nbsp;&nbsp; 6417361 |
| Enel Finance International NVøø | 0.75 | &nbsp;&nbsp; 6-17-2030 | EUR | 1100000 | &nbsp;&nbsp; 1188954 |
| Enel Finance International NV | 4.00 | &nbsp;&nbsp; 2-20-2031 | EUR | 3000000 | &nbsp;&nbsp; 3705319 |

---

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

Allspring Core Plus Bond Fund \| 21

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Electric**(continued) |  |  |  |  |  |
| Energia Group Roi Financeco DAC144A | 6.88<br> %<br>| &nbsp;&nbsp; 7-31-2028 | EUR | 3180000 | &nbsp;&nbsp; $3884946 |
| &nbsp;&nbsp; Iberdrola Finanzas SA (EURIBOR ICE Swap Rate <br> 11:00am+1.36%)ʊ±<br>| 3.75 | &nbsp;&nbsp; 8-5-2031 | EUR | 5300000 | &nbsp;&nbsp; 6232014 |
| Vattenfall AB (UK Gilts 5 Year+1.90%)± | 2.50 | &nbsp;&nbsp; 6-29-2083 | GBP | 4713000 | &nbsp;&nbsp; 6034175 |
|  |  |  |  |  | &nbsp;&nbsp; **27462769** |
| **Gas: 0.09%** |  |  |  |  |  |
| APA Infrastructure Ltd. | 2.00 | &nbsp;&nbsp; 7-15-2030 | EUR | 8250000 | &nbsp;&nbsp; **9338957** |
| **Water: 0.06%** |  |  |  |  |  |
| &nbsp;&nbsp; Holding d'Infrastructures des Metiers de <br> l'Environnement SAS<br>| 4.88 | &nbsp;&nbsp; 10-24-2029 | EUR | 5000000 | &nbsp;&nbsp; **6165989** |
| &nbsp;&nbsp; **Total foreign corporate bonds and notes** <br> **(Cost $290,337,964)**<br>|  |  |  |  | &nbsp;&nbsp; **320307918** |
| **Foreign government bonds: 4.74%** |  |  |  |  |  |
| **Australia: 0.63%** |  |  |  |  |  |
| Australia | 2.25 | &nbsp;&nbsp; 5-21-2028 | AUD | 39425000 | &nbsp;&nbsp; 26911806 |
| Australia | 2.75 | &nbsp;&nbsp; 11-21-2027 | AUD | 39850000 | &nbsp;&nbsp; 27686857 |
| New South Wales Treasury Corp. | 3.00 | &nbsp;&nbsp; 4-20-2029 | AUD | 20440000 | &nbsp;&nbsp; 13939990 |
|  |  |  |  |  | &nbsp;&nbsp; **68538653** |
| **Belgium: 0.25%** |  |  |  |  |  |
| Kingdom of Belgium144A | 3.40 | &nbsp;&nbsp; 6-22-2036 | EUR | 22300000 | &nbsp;&nbsp; **26905962** |
| **Brazil: 0.49%** |  |  |  |  |  |
| Brazil Notas do Tesouro Nacional | 10.00 | &nbsp;&nbsp; 1-1-2031 | BRL | 305000000 | &nbsp;&nbsp; **53269004** |
| **Chile: 0.13%** |  |  |  |  |  |
| Bonos de la Tesoreria de la Republica en pesos144A | 4.70 | &nbsp;&nbsp; 9-1-2030 | CLP | 11700000000 | &nbsp;&nbsp; **13624487** |
| **Colombia: 0.45%** |  |  |  |  |  |
| Colombia TES | 5.75 | &nbsp;&nbsp; 11-3-2027 | COP | 210000000000 | &nbsp;&nbsp; **49399717** |
| **Czech Republic: 0.24%** |  |  |  |  |  |
| Czech Republic | 5.00 | &nbsp;&nbsp; 9-30-2030 | CZK | 502060000 | &nbsp;&nbsp; **25888446** |
| **France: 0.48%** |  |  |  |  |  |
| French Republic144A | 2.70 | &nbsp;&nbsp; 2-25-2031 | EUR | 43800000 | &nbsp;&nbsp; **52134426** |
| **Luxembourg: 0.48%** |  |  |  |  |  |
| European Union | 2.63 | &nbsp;&nbsp; 7-4-2028 | EUR | 43675000 | &nbsp;&nbsp; **52148923** |
| **Mexico: 0.25%** |  |  |  |  |  |
| Mexico Bonos | 8.50 | &nbsp;&nbsp; 2-28-2030 | MXN | 458245000 | &nbsp;&nbsp; **27203341** |
| **Singapore: 0.24%** |  |  |  |  |  |
| Singapore | 2.88 | &nbsp;&nbsp; 9-1-2030 | SGD | 31250000 | &nbsp;&nbsp; **26138924** |

---

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

22 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **South Africa: 0.25%** |  |  |  |  |  |
| Republic of South Africa | 8.00<br> %<br>| &nbsp;&nbsp; 1-31-2030 | ZAR | 413000000 | &nbsp;&nbsp; **$26680487** |
| **Sweden: 0.25%** |  |  |  |  |  |
| Sweden | 0.13 | &nbsp;&nbsp; 5-12-2031 | SEK | 271000000 | &nbsp;&nbsp; **27027234** |
| **United Kingdom: 0.60%** |  |  |  |  |  |
| U.K. Gilts | 3.75 | &nbsp;&nbsp; 3-7-2027 | GBP | 19140000 | &nbsp;&nbsp; 25852151 |
| U.K. Gilts | 4.38 | &nbsp;&nbsp; 3-7-2030 | GBP | 28200000 | &nbsp;&nbsp; 38979285 |
|  |  |  |  |  | &nbsp;&nbsp; **64831436** |
| **Total foreign government bonds (Cost $503,804,475)** |  |  |  |  | &nbsp;&nbsp; **513791040** |

---

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

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Investment companies: 0.67%** |  |  |
| **Exchange-traded funds: 0.67%** |  |  |
| State Street SPDR Portfolio High Yield Bond ETF | 844925 | &nbsp;&nbsp; 20024722 |
| Vanguard Intermediate-Term Corporate Bond ETF | 620486 | &nbsp;&nbsp; 52567574 |
| **Total investment companies (Cost $71,478,301)** |  | &nbsp;&nbsp; **72592296** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  |  | Principal |  |
| **Loans: 0.03%** |  |  |  |  |
| **Communications: 0.00%** |  |  |  |  |
| **Media: 0.00%** |  |  |  |  |
| DIRECTV Financing LLC (U.S. SOFR 3 Month+5.00%)± | 8.93 | &nbsp;&nbsp; 8-2-2027 | $157083 | &nbsp;&nbsp; **157083** |
| **Consumer, cyclical: 0.00%** |  |  |  |  |
| **Airlines: 0.00%** |  |  |  |  |
| &nbsp;&nbsp; Vista Management Holding, Inc. (U.S. SOFR 3 <br> Month+3.75%)±<br>| 7.41 | &nbsp;&nbsp; 4-1-2031 | 440550 | &nbsp;&nbsp; **440827** |
| **Consumer, non-cyclical: 0.03%** |  |  |  |  |
| **Healthcare-services: 0.03%** |  |  |  |  |
| Modivcare Buyer LLC (U.S. SOFR 3 Month+5.00%)± | 8.69 | &nbsp;&nbsp; 12-30-2032 | 3062557 | &nbsp;&nbsp; **2817553** |
| **Total loans (Cost $3,657,464)** |  |  |  | &nbsp;&nbsp; **3415463** |
| **Municipal obligations: 0.04%** |  |  |  |  |
| **Illinois: 0.02%** |  |  |  |  |
| **Housing revenue: 0.02%** |  |  |  |  |
| &nbsp;&nbsp; Metropolitan Pier & Exposition Authority State of Illinois <br> McCormick Place Expansion Project Fund Series B <br> (AG Insured)¤<br>| 0.00 | &nbsp;&nbsp; 6-15-2026 | 1975000 | &nbsp;&nbsp; **1960778** |
| **Tax revenue: 0.00%** |  |  |  |  |
| &nbsp;&nbsp; Metropolitan Pier & Exposition Authority State of Illinois <br> McCormick Place Expansion Project Fund Series B <br> CAB¤<br>| 0.00 | &nbsp;&nbsp; 12-15-2051 | 765000 | &nbsp;&nbsp; **222321** |
|  |  |  |  | &nbsp;&nbsp; **2183099** |

---

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

Allspring Core Plus Bond Fund \| 23

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Pennsylvania: 0.02%** |  |  |  |  |
| **Housing revenue: 0.02%** |  |  |  |  |
| &nbsp;&nbsp; Commonwealth Financing Authority Pennsylvania <br> Series A<br>| 4.14<br> %<br>| &nbsp;&nbsp; 6-1-2038 | $1995000 | &nbsp;&nbsp; $**1937471** |
| **Total municipal obligations (Cost $4,066,863)** |  |  |  | &nbsp;&nbsp; **4120570** |
| **Non-agency mortgage-backed securities: 5.54%** |  |  |  |  |
| &nbsp;&nbsp; 1345 Trust Series 2025-AOA Class A (U.S. SOFR 1 <br> Month+1.60%)144A±<br>| 5.26 | &nbsp;&nbsp; 6-15-2042 | 2300000 | &nbsp;&nbsp; 2304828 |
| A&D Mortgage Trust Series 2024-NQM4 Class A1144A | 5.46 | &nbsp;&nbsp; 8-25-2069 | 2299189 | &nbsp;&nbsp; 2311609 |
| A&D Mortgage Trust Series 2024-NQM5 Class A1144A | 5.70 | &nbsp;&nbsp; 11-25-2069 | 1517357 | &nbsp;&nbsp; 1530284 |
| &nbsp;&nbsp; A&D Mortgage Trust Series 2024-NQM6 <br> Class A2144A±±<br>| 5.92 | &nbsp;&nbsp; 1-25-2070 | 651140 | &nbsp;&nbsp; 657165 |
| &nbsp;&nbsp; A&D Mortgage Trust Series 2025-NQM3 <br> Class A1144A±±<br>| 5.37 | &nbsp;&nbsp; 8-25-2070 | 26032169 | &nbsp;&nbsp; 26220647 |
| &nbsp;&nbsp; A&D Mortgage Trust Series 2026-NQM1 <br> Class A1144A±±<br>| 4.91 | &nbsp;&nbsp; 2-25-2071 | 9762888 | &nbsp;&nbsp; 9780275 |
| &nbsp;&nbsp; Agate Bay Mortgage Trust Series 2015-3 <br> Class B3144A±±<br>| 3.44 | &nbsp;&nbsp; 4-25-2045 | 366967 | &nbsp;&nbsp; 309900 |
| &nbsp;&nbsp; Ajax Mortgage Loan Trust Series 2021-E <br> Class A1144A±±<br>| 1.74 | &nbsp;&nbsp; 12-25-2060 | 2470731 | &nbsp;&nbsp; 2212262 |
| &nbsp;&nbsp; ALA Trust Series 2025-OANA Class A (U.S. SOFR 1 <br> Month+1.74%)144A±<br>| 5.40 | &nbsp;&nbsp; 6-15-2040 | 5000000 | &nbsp;&nbsp; 5025085 |
| &nbsp;&nbsp; Angel Oak Mortgage Trust Series 2020-4 <br> Class A1144A±±<br>| 1.47 | &nbsp;&nbsp; 6-25-2065 | 349556 | &nbsp;&nbsp; 339711 |
| &nbsp;&nbsp; Angel Oak Mortgage Trust Series 2024-10 <br> Class A1144A±±<br>| 5.35 | &nbsp;&nbsp; 10-25-2069 | 8237948 | &nbsp;&nbsp; 8289889 |
| BAHA Trust Series 2024-MAR Class B144A±± | 7.07 | &nbsp;&nbsp; 12-10-2041 | 20000000 | &nbsp;&nbsp; 21037548 |
| Bank Series 2022-BNK44 Class A5±± | 5.74 | &nbsp;&nbsp; 11-15-2055 | 1085000 | &nbsp;&nbsp; 1170712 |
| BBCMS Mortgage Trust Series 2024-5C25 Class AS±± | 6.36 | &nbsp;&nbsp; 3-15-2057 | 14415000 | &nbsp;&nbsp; 15195832 |
| BBCMS Mortgage Trust Series 2025-5C37 Class C±± | 6.00 | &nbsp;&nbsp; 9-15-2058 | 2500000 | &nbsp;&nbsp; 2571079 |
| &nbsp;&nbsp; Benchmark Mortgage Trust Series 2022-B33 <br> Class A5±±<br>| 3.46 | &nbsp;&nbsp; 3-15-2055 | 14391000 | &nbsp;&nbsp; 13634350 |
| &nbsp;&nbsp; BHMS Commercial Mortgage Trust Series 2025-ATLS <br> Class B (U.S. SOFR 1 Month+2.55%)144A±<br>| 6.21 | &nbsp;&nbsp; 8-15-2042 | 8570000 | &nbsp;&nbsp; 8596873 |
| BMO Mortgage Trust Series 2024-C8 Class AS±± | 5.91 | &nbsp;&nbsp; 3-15-2057 | 10685000 | &nbsp;&nbsp; 11475326 |
| &nbsp;&nbsp; BOCA Commercial Mortgage Trust Series 2025-BOCA <br> Class C (U.S. SOFR 1 Month+2.15%)144A±<br>| 5.81 | &nbsp;&nbsp; 12-15-2042 | 6050000 | &nbsp;&nbsp; 6069966 |
| &nbsp;&nbsp; Bunker Hill Loan Depositary Trust Series 2019-3 <br> Class A1144A±±<br>| 2.72 | &nbsp;&nbsp; 11-25-2059 | 88664 | &nbsp;&nbsp; 88231 |
| BX Trust Series 2019-OC11 Class A144A | 3.20 | &nbsp;&nbsp; 12-9-2041 | 4975000 | &nbsp;&nbsp; 4781087 |
| BX Trust Series 2022-CLS Class C144A | 6.79 | &nbsp;&nbsp; 10-13-2027 | 1000000 | &nbsp;&nbsp; 988241 |
| &nbsp;&nbsp; BX Trust Series 2024-BIO Class C (U.S. SOFR 1 <br> Month+2.64%)144A±<br>| 6.30 | &nbsp;&nbsp; 2-15-2041 | 10995000 | &nbsp;&nbsp; 10902230 |
| &nbsp;&nbsp; BX Trust Series 2025-VOLT Class B (U.S. SOFR 1 <br> Month+2.10%)144A±<br>| 5.76 | &nbsp;&nbsp; 12-15-2044 | 25900000 | &nbsp;&nbsp; 25948451 |
| CD Mortgage Trust Series 2017-CD6 Class A5 | 3.46 | &nbsp;&nbsp; 11-13-2050 | 1035000 | &nbsp;&nbsp; 1023677 |
| CFMT LLC Series 2025-AB3 Class A144A±± | 4.00 | &nbsp;&nbsp; 5-25-2055 | 1851969 | &nbsp;&nbsp; 1801094 |
| CHNGE Mortgage Trust Series 2022-1 Class A1144A±± | 4.01 | &nbsp;&nbsp; 1-25-2067 | 4600805 | &nbsp;&nbsp; 4504768 |

---

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

24 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities**(continued) |  |  |  |  |
| CHNGE Mortgage Trust Series 2022-2 Class A1144A±± | 4.76<br> %<br>| &nbsp;&nbsp; 3-25-2067 | $964407 | &nbsp;&nbsp; $962134 |
| CHNGE Mortgage Trust Series 2023-3 Class A1144A±± | 7.10 | &nbsp;&nbsp; 7-25-2058 | 682001 | &nbsp;&nbsp; 683518 |
| CHNGE Mortgage Trust Series 2023-4 Class A1144A±± | 7.57 | &nbsp;&nbsp; 9-25-2058 | 2602281 | &nbsp;&nbsp; 2621092 |
| &nbsp;&nbsp; COMM Mortgage Trust Series 2024-277P <br> Class C144A±±<br>| 7.00 | &nbsp;&nbsp; 8-10-2044 | 5000000 | &nbsp;&nbsp; 5211303 |
| CRSO Trust Series 2023 | 7.12 | &nbsp;&nbsp; 7-10-2040 | 17995000 | &nbsp;&nbsp; 18666084 |
| CSMC Trust Series 2013-IVR2 Class B4144A±± | 3.39 | &nbsp;&nbsp; 4-25-2043 | 344069 | &nbsp;&nbsp; 313887 |
| CSMC Trust Series 2014-IVR2 Class A2144A±± | 3.82 | &nbsp;&nbsp; 4-25-2044 | 936068 | &nbsp;&nbsp; 909581 |
| CSMC Trust Series 2018-RPL9 Class A144A±± | 3.85 | &nbsp;&nbsp; 9-25-2057 | 1785611 | &nbsp;&nbsp; 1747036 |
| CSMC Trust Series 2021-AFC1 Class A2144A±± | 1.07 | &nbsp;&nbsp; 3-25-2056 | 3591298 | &nbsp;&nbsp; 3112646 |
| CSMLT Trust Series 2015-1 Class B4144A±± | 3.82 | &nbsp;&nbsp; 5-25-2045 | 1725610 | &nbsp;&nbsp; 1657751 |
| &nbsp;&nbsp; DBSG Mortgage Trust Series 2024-ALTA <br> Class A144A±±<br>| 5.95 | &nbsp;&nbsp; 6-10-2037 | 13810000 | &nbsp;&nbsp; 14008849 |
| &nbsp;&nbsp; DBSG Mortgage Trust Series 2024-ALTA <br> Class B144A±±<br>| 6.38 | &nbsp;&nbsp; 6-10-2037 | 3015000 | &nbsp;&nbsp; 3056934 |
| &nbsp;&nbsp; Deephaven Residential Mortgage Trust Series 2021-3 <br> Class A2144A±±<br>| 1.40 | &nbsp;&nbsp; 8-25-2066 | 1870519 | &nbsp;&nbsp; 1684105 |
| EFMT Series 2025-NQM3 Class A1144A±± | 5.49 | &nbsp;&nbsp; 8-25-2070 | 18767267 | &nbsp;&nbsp; 18973796 |
| &nbsp;&nbsp; Finance of America Structured Securities Trust <br> Series 2024-S2 Class A1144A±±<br>| 3.50 | &nbsp;&nbsp; 4-25-2074 | 22703931 | &nbsp;&nbsp; 22339778 |
| &nbsp;&nbsp; Finance of America Structured Securities Trust <br> Series 2024-S4 Class A1144A<br>| 3.50 | &nbsp;&nbsp; 11-25-2074 | 10859703 | &nbsp;&nbsp; 10615046 |
| &nbsp;&nbsp; Financial Asset Securitization, Inc. Series 1997-NAM2 <br> Class B2†±±<br>| 8.00 | &nbsp;&nbsp; 7-25-2027 | 15908 | &nbsp;&nbsp; 2 |
| &nbsp;&nbsp; FREMF Mortgage Trust Series 2020-KF76 Class B (30 <br> Day Average U.S. SOFR+2.86%)144A±<br>| 6.54 | &nbsp;&nbsp; 1-25-2030 | 2338104 | &nbsp;&nbsp; 2289582 |
| &nbsp;&nbsp; FS Trust Series 2026-HULA Class B (U.S. SOFR 1 <br> Month+1.65%)144A±%%<br>| 5.32 | &nbsp;&nbsp; 3-15-2041 | 16810000 | &nbsp;&nbsp; 16817923 |
| &nbsp;&nbsp; FS Trust Series 2026-ORL Class B (U.S. SOFR 1 <br> Month+1.55%)144A±<br>| 5.22 | &nbsp;&nbsp; 2-15-2041 | 3409000 | &nbsp;&nbsp; 3409000 |
| GCAT Trust Series 2019-RPL1 Class A1144A±± | 2.65 | &nbsp;&nbsp; 10-25-2068 | 866833 | &nbsp;&nbsp; 848916 |
| GCAT Trust Series 2022-NQM3 Class A1144A±± | 4.35 | &nbsp;&nbsp; 4-25-2067 | 942622 | &nbsp;&nbsp; 939647 |
| &nbsp;&nbsp; GS Mortgage Securities Trust Series 2017-GS7 <br> Class A3<br>| 3.17 | &nbsp;&nbsp; 8-10-2050 | 990000 | &nbsp;&nbsp; 980632 |
| &nbsp;&nbsp; GS Mortgage Securities Trust Series 2019-GSA1 <br> Class C±±<br>| 3.80 | &nbsp;&nbsp; 11-10-2052 | 500000 | &nbsp;&nbsp; 461658 |
| &nbsp;&nbsp; GS Mortgage-Backed Securities Corp. Trust <br> Series 2019-PJ2 Class A4144A±±<br>| 4.00 | &nbsp;&nbsp; 11-25-2049 | 121367 | &nbsp;&nbsp; 116603 |
| &nbsp;&nbsp; GS Mortgage-Backed Securities Trust Series 2024-RPL2 <br> Class A1144A±±<br>| 3.75 | &nbsp;&nbsp; 7-25-2061 | 11199832 | &nbsp;&nbsp; 11014094 |
| &nbsp;&nbsp; GS Mortgage-Backed Securities Trust Series 2024-RPL4 <br> Class A1144A±±<br>| 3.90 | &nbsp;&nbsp; 9-25-2061 | 439814 | &nbsp;&nbsp; 435036 |
| &nbsp;&nbsp; GSJP Trust Series 2025-BEDS Class A (U.S. SOFR 1 <br> Month+1.50%)144A±<br>| 5.16 | &nbsp;&nbsp; 12-15-2042 | 7995000 | &nbsp;&nbsp; 7986981 |
| &nbsp;&nbsp; GSJP Trust Series 2025-BEDS Class B (U.S. SOFR 1 <br> Month+1.75%)144A±<br>| 5.41 | &nbsp;&nbsp; 12-15-2042 | 15435000 | &nbsp;&nbsp; 15419633 |
| &nbsp;&nbsp; Harvest Commercial Capital Loan Trust Series 2024-1 <br> Class A<br>| 6.16 | &nbsp;&nbsp; 10-25-2056 | 7830821 | &nbsp;&nbsp; 8099072 |

---

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

Allspring Core Plus Bond Fund \| 25

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp; HAVN Trust Series 2025-MOB Class A (U.S. SOFR 1 <br> Month+1.70%)144A±<br>| 5.36<br> %<br>| &nbsp;&nbsp; 10-15-2035 | $16880000 | &nbsp;&nbsp; $16848350 |
| &nbsp;&nbsp; Imperial Fund Mortgage Trust Series 2020-NQM1 <br> Class A1144A±±<br>| 1.38 | &nbsp;&nbsp; 10-25-2055 | 389280 | &nbsp;&nbsp; 372071 |
| &nbsp;&nbsp; Imperial Fund Mortgage Trust Series 2021-NQM1 <br> Class A1144A±±<br>| 1.07 | &nbsp;&nbsp; 6-25-2056 | 970213 | &nbsp;&nbsp; 880948 |
| &nbsp;&nbsp; Imperial Fund Mortgage Trust Series 2021-NQM2 <br> Class A2144A±±<br>| 1.36 | &nbsp;&nbsp; 9-25-2056 | 3288011 | &nbsp;&nbsp; 2874586 |
| &nbsp;&nbsp; Imperial Fund Mortgage Trust Series 2022-NQM3 <br> Class A3144A±±<br>| 4.41 | &nbsp;&nbsp; 5-25-2067 | 17223000 | &nbsp;&nbsp; 16044654 |
| &nbsp;&nbsp; JPMBB Commercial Mortgage Securities Trust <br> Series 2013-C15 Class D144A±±<br>| 4.75 | &nbsp;&nbsp; 11-15-2045 | 2356177 | &nbsp;&nbsp; 2162499 |
| &nbsp;&nbsp; JPMorgan Mortgage Trust Series 2013-3 <br> Class B4144A±±<br>| 3.38 | &nbsp;&nbsp; 7-25-2043 | 3616907 | &nbsp;&nbsp; 2948330 |
| &nbsp;&nbsp; JPMorgan Mortgage Trust Series 2014-2 <br> Class B4144A±±<br>| 3.35 | &nbsp;&nbsp; 6-25-2029 | 1215000 | &nbsp;&nbsp; 1173864 |
| &nbsp;&nbsp; JPMorgan Mortgage Trust Series 2020-1 <br> Class A15144A±±<br>| 3.50 | &nbsp;&nbsp; 6-25-2050 | 926792 | &nbsp;&nbsp; 853057 |
| &nbsp;&nbsp; JPMorgan Mortgage Trust Series 2025-CES1 <br> Class A3144A±±<br>| 6.07 | &nbsp;&nbsp; 5-25-2055 | 500000 | &nbsp;&nbsp; 507280 |
| MFA Trust Series 2020-NQM3 Class A1144A±± | 1.01 | &nbsp;&nbsp; 1-26-2065 | 375335 | &nbsp;&nbsp; 360537 |
| MFA Trust Series 2020-NQM3 Class M1144A±± | 2.65 | &nbsp;&nbsp; 1-26-2065 | 2650000 | &nbsp;&nbsp; 2540754 |
| MFA Trust Series 2021-NQM1 Class A1144A±± | 1.15 | &nbsp;&nbsp; 4-25-2065 | 912968 | &nbsp;&nbsp; 862545 |
| MFA Trust Series 2021-NQM1 Class A2144A±± | 1.38 | &nbsp;&nbsp; 4-25-2065 | 1476139 | &nbsp;&nbsp; 1397341 |
| MFA Trust Series 2022-NQM2 Class A1144A±± | 4.00 | &nbsp;&nbsp; 5-25-2067 | 5177760 | &nbsp;&nbsp; 5189196 |
| &nbsp;&nbsp; Mill City Mortgage Loan Trust Series 2019-GS1 <br> Class M2144A±±<br>| 3.25 | &nbsp;&nbsp; 7-25-2059 | 4592000 | &nbsp;&nbsp; 4288877 |
| &nbsp;&nbsp; Mill City Mortgage Loan Trust Series 2021-NMR1 <br> Class B2144A±±<br>| 2.50 | &nbsp;&nbsp; 11-25-2060 | 5731000 | &nbsp;&nbsp; 4526735 |
| &nbsp;&nbsp; Morgan Stanley Bank of America Merrill Lynch Trust <br> Series 2016-C30 Class B±±<br>| 3.31 | &nbsp;&nbsp; 9-15-2049 | 4610000 | &nbsp;&nbsp; 4439518 |
| &nbsp;&nbsp; Morgan Stanley Capital I Trust Series 2014-150E <br> Class A144A<br>| 3.91 | &nbsp;&nbsp; 9-9-2032 | 6695000 | &nbsp;&nbsp; 6313668 |
| &nbsp;&nbsp; Morgan Stanley Residential Mortgage Loan Trust <br> Series 2025-NQM5 Class A1144A±±<br>| 5.44 | &nbsp;&nbsp; 7-25-2070 | 16163870 | &nbsp;&nbsp; 16315729 |
| &nbsp;&nbsp; New Residential Mortgage Loan Trust Series 2019-RPL3 <br> Class M1144A±±<br>| 3.25 | &nbsp;&nbsp; 7-25-2059 | 10800000 | &nbsp;&nbsp; 10089847 |
| NYMT Loan Trust Series 2024-CP1 Class A1144A±± | 3.75 | &nbsp;&nbsp; 2-25-2068 | 2396496 | &nbsp;&nbsp; 2280776 |
| OBX Trust Series 2020-INV1 Class A21144A±± | 3.50 | &nbsp;&nbsp; 12-25-2049 | 1251878 | &nbsp;&nbsp; 1151628 |
| OBX Trust Series 2022-NQM7 Class A1144A±± | 5.11 | &nbsp;&nbsp; 8-25-2062 | 3696149 | &nbsp;&nbsp; 3692995 |
| &nbsp;&nbsp; One New York Plaza Trust Series 2020-1NYP Class A <br> (U.S. SOFR 1 Month+1.06%)144A±<br>| 4.72 | &nbsp;&nbsp; 1-15-2036 | 7702293 | &nbsp;&nbsp; 7514588 |
| PRPM Trust Series 2024-NQM3 Class A1144A±± | 5.23 | &nbsp;&nbsp; 8-25-2069 | 10223209 | &nbsp;&nbsp; 10262931 |
| &nbsp;&nbsp; RCKT Mortgage Trust Series 2023-CES2 <br> Class A1A144A±±<br>| 6.81 | &nbsp;&nbsp; 9-25-2043 | 4652341 | &nbsp;&nbsp; 4681114 |
| &nbsp;&nbsp; RCKT Mortgage Trust Series 2024-CES9 <br> Class A1A144A±±<br>| 5.58 | &nbsp;&nbsp; 12-25-2044 | 5394506 | &nbsp;&nbsp; 5454415 |
| &nbsp;&nbsp; Residential Mortgage Loan Trust Series 2020-1 <br> Class M1144A±±<br>| 3.24 | &nbsp;&nbsp; 1-26-2060 | 5000000 | &nbsp;&nbsp; 4905706 |

---

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

26 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp; Residential Mortgage Loan Trust Series 2021-1R <br> Class A2144A±±<br>| 1.10<br> %<br>| &nbsp;&nbsp; 1-25-2065 | $282857 | &nbsp;&nbsp; $275357 |
| ROCK Trust Series 2024-CNTR Class C144A | 6.47 | &nbsp;&nbsp; 11-13-2041 | 9345000 | &nbsp;&nbsp; 9798742 |
| &nbsp;&nbsp; Saluda Grade Alternative Mortgage Trust Series 2024-<br> CES1 Class A1144A±±<br>| 6.31 | &nbsp;&nbsp; 3-25-2054 | 4142628 | &nbsp;&nbsp; 4231340 |
| &nbsp;&nbsp; SDAL Trust Series 2025-DAL Class A (U.S. SOFR 1 <br> Month+2.44%)144A±<br>| 6.10 | &nbsp;&nbsp; 4-15-2042 | 4740000 | &nbsp;&nbsp; 4749996 |
| &nbsp;&nbsp; SDAL Trust Series 2025-DAL Class B (U.S. SOFR 1 <br> Month+2.94%)144A±<br>| 6.60 | &nbsp;&nbsp; 4-15-2042 | 9875000 | &nbsp;&nbsp; 9895857 |
| &nbsp;&nbsp; SFAVE Commercial Mortgage Securities Trust <br> Series 2015-5AVE Class B144A±±<br>| 4.39 | &nbsp;&nbsp; 1-5-2043 | 5445000 | &nbsp;&nbsp; 4846468 |
| &nbsp;&nbsp; SFAVE Commercial Mortgage Securities Trust <br> Series 2015-5AVE Class D144A±±<br>| 4.39 | &nbsp;&nbsp; 1-5-2043 | 3377000 | &nbsp;&nbsp; 2628752 |
| &nbsp;&nbsp; SG Residential Mortgage Trust Series 2021-1 <br> Class A2144A±±<br>| 1.36 | &nbsp;&nbsp; 7-25-2061 | 4971091 | &nbsp;&nbsp; 4255741 |
| &nbsp;&nbsp; Shellpoint Co-Originator Trust Series 2016-1 <br> Class B2144A±±<br>| 3.58 | &nbsp;&nbsp; 11-25-2046 | 3680925 | &nbsp;&nbsp; 3495258 |
| &nbsp;&nbsp; SHR Trust Series 2024-LXRY Class A (U.S. SOFR 1 <br> Month+1.95%)144A±<br>| 5.61 | &nbsp;&nbsp; 10-15-2041 | 9635000 | &nbsp;&nbsp; 9647044 |
| &nbsp;&nbsp; SHR Trust Series 2024-LXRY Class D (U.S. SOFR 1 <br> Month+3.60%)144A±<br>| 7.26 | &nbsp;&nbsp; 10-15-2041 | 2080000 | &nbsp;&nbsp; 2099096 |
| &nbsp;&nbsp; SPGN Trust Series 2026-TFLM Class C (U.S. SOFR 1 <br> Month+1.80%)144A±<br>| 5.50 | &nbsp;&nbsp; 2-15-2041 | 2400000 | &nbsp;&nbsp; 2397000 |
| &nbsp;&nbsp; Starwood Mortgage Residential Trust Series 2021-6 <br> Class A1144A±±<br>| 1.92 | &nbsp;&nbsp; 11-25-2066 | 1542278 | &nbsp;&nbsp; 1388046 |
| &nbsp;&nbsp; SWCH Commercial Mortgage Trust Series 2025-DATA <br> Class C (U.S. SOFR 1 Month+2.09%)144A±<br>| 5.75 | &nbsp;&nbsp; 2-15-2042 | 7960000 | &nbsp;&nbsp; 7920190 |
| &nbsp;&nbsp; Towd Point Mortgage Trust Series 2017-4 <br> Class A1144A±±<br>| 2.75 | &nbsp;&nbsp; 6-25-2057 | 277124 | &nbsp;&nbsp; 272896 |
| &nbsp;&nbsp; Towd Point Mortgage Trust Series 2019-4 <br> Class M1144A±±<br>| 3.50 | &nbsp;&nbsp; 10-25-2059 | 4000000 | &nbsp;&nbsp; 3654527 |
| &nbsp;&nbsp; Towd Point Mortgage Trust Series 2019-4 <br> Class M2144A±±<br>| 3.75 | &nbsp;&nbsp; 10-25-2059 | 3680000 | &nbsp;&nbsp; 3279117 |
| &nbsp;&nbsp; Towd Point Mortgage Trust Series 2020-1 <br> Class A1144A±±<br>| 2.71 | &nbsp;&nbsp; 1-25-2060 | 4709082 | &nbsp;&nbsp; 4576407 |
| &nbsp;&nbsp; Towd Point Mortgage Trust Series 2024-CES6 <br> Class M1144A±±<br>| 6.10 | &nbsp;&nbsp; 11-25-2064 | 6375000 | &nbsp;&nbsp; 6472136 |
| TRK Trust Series 2021-INV1 Class A2144A±± | 1.41 | &nbsp;&nbsp; 7-25-2056 | 1372893 | &nbsp;&nbsp; 1256594 |
| &nbsp;&nbsp; UBS Commercial Mortgage Trust Series 2017-C5 <br> Class A5<br>| 3.47 | &nbsp;&nbsp; 11-15-2050 | 1140000 | &nbsp;&nbsp; 1121586 |
| &nbsp;&nbsp; Verus Securitization Trust Series 2021-R3 <br> Class A1144A±±<br>| 1.02 | &nbsp;&nbsp; 4-25-2064 | 4571354 | &nbsp;&nbsp; 4393177 |
| &nbsp;&nbsp; Verus Securitization Trust Series 2024-9 <br> Class M1144A±±<br>| 6.20 | &nbsp;&nbsp; 11-25-2069 | 1659000 | &nbsp;&nbsp; 1680172 |
| &nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust Series 2025-<br> NYCH Class A (U.S. SOFR 1 Month+1.74%)144A±<br>| 5.40 | &nbsp;&nbsp; 6-15-2042 | 1500000 | &nbsp;&nbsp; 1494375 |
| &nbsp;&nbsp; **Total non-agency mortgage-backed securities (Cost** <br> **$600,524,744)**<br>|  |  |  | &nbsp;&nbsp; **600917852** |

---

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

Allspring Core Plus Bond Fund \| 27

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **U.S. Treasury securities: 12.74%** |  |  |  |  |
| U.S. Treasury Bonds | 2.25<br> %<br>| &nbsp;&nbsp; 8-15-2049 | $50760000 | &nbsp;&nbsp; $33122883 |
| U.S. Treasury Bonds | 2.88 | &nbsp;&nbsp; 5-15-2043 | 45210000 | &nbsp;&nbsp; 36254535 |
| U.S. Treasury Bonds | 3.00 | &nbsp;&nbsp; 2-15-2049 | 32945000 | &nbsp;&nbsp; 25184908 |
| U.S. Treasury Bonds | 3.13 | &nbsp;&nbsp; 5-15-2048 | 65580000 | &nbsp;&nbsp; 51659621 |
| U.S. Treasury Bonds | 3.88 | &nbsp;&nbsp; 5-15-2043 | 42200000 | &nbsp;&nbsp; 39006977 |
| U.S. Treasury Bonds | 4.13 | &nbsp;&nbsp; 8-15-2044 | 22960000 | &nbsp;&nbsp; 21743837 |
| U.S. Treasury Bonds | 4.38 | &nbsp;&nbsp; 8-15-2043 | 60825000 | &nbsp;&nbsp; 59829466 |
| U.S. Treasury Bonds | 4.63 | &nbsp;&nbsp; 5-15-2044 | 106485000 | &nbsp;&nbsp; 107695435 |
| U.S. Treasury Bonds | 4.63 | &nbsp;&nbsp; 11-15-2044 | 17570000 | &nbsp;&nbsp; 17735405 |
| U.S. Treasury Bonds | 4.63 | &nbsp;&nbsp; 11-15-2045 | 183849000 | &nbsp;&nbsp; 185055509 |
| U.S. Treasury Bonds## | 4.63 | &nbsp;&nbsp; 2-15-2046 | 186635000 | &nbsp;&nbsp; 187947277 |
| U.S. Treasury Bonds | 4.63 | &nbsp;&nbsp; 11-15-2055 | 62060000 | &nbsp;&nbsp; 61953334 |
| U.S. Treasury Bonds | 4.75 | &nbsp;&nbsp; 8-15-2055 | 37378000 | &nbsp;&nbsp; 38061317 |
| U.S. Treasury Notes | 3.50 | &nbsp;&nbsp; 1-15-2029 | 119460000 | &nbsp;&nbsp; 119823980 |
| U.S. Treasury Notes | 3.63 | &nbsp;&nbsp; 8-31-2030 | 46760000 | &nbsp;&nbsp; 47002933 |
| U.S. Treasury Notes | 3.75 | &nbsp;&nbsp; 1-31-2031 | 149524000 | &nbsp;&nbsp; 151042603 |
| U.S. Treasury Notes | 4.00 | &nbsp;&nbsp; 11-15-2035 | 50176000 | &nbsp;&nbsp; 50356320 |
| U.S. Treasury Notes | 4.13 | &nbsp;&nbsp; 11-15-2032 | 123224000 | &nbsp;&nbsp; 126304600 |
| U.S. Treasury Notes | 4.13 | &nbsp;&nbsp; 2-15-2036 | 10460000 | &nbsp;&nbsp; 10598922 |
| U.S. Treasury STRIPS¤ | 0.00 | &nbsp;&nbsp; 5-15-2040 | 20515000 | &nbsp;&nbsp; 10798562 |
| **Total U.S. Treasury securities (Cost $1,384,198,973)** |  |  |  | &nbsp;&nbsp; **1381178424** |
| **Yankee corporate bonds and notes: 8.49%** |  |  |  |  |
| **Basic materials: 0.31%** |  |  |  |  |
| **Chemicals: 0.09%** |  |  |  |  |
| Braskem Netherlands Finance BV144A | 7.25 | &nbsp;&nbsp; 2-13-2033 | 8610000 | &nbsp;&nbsp; 3551625 |
| Orbia Advance Corp. SAB de CV144A | 7.50 | &nbsp;&nbsp; 5-13-2035 | 5695000 | &nbsp;&nbsp; 5738629 |
|  |  |  |  | &nbsp;&nbsp; **9290254** |
| **Mining: 0.22%** |  |  |  |  |
| Glencore Finance Canada Ltd.144A | 6.90 | &nbsp;&nbsp; 11-15-2037 | 3145000 | &nbsp;&nbsp; 3610526 |
| Rio Tinto Finance USA PLC | 5.75 | &nbsp;&nbsp; 3-14-2055 | 19865000 | &nbsp;&nbsp; 20617357 |
|  |  |  |  | &nbsp;&nbsp; **24227883** |
| **Communications: 0.40%** |  |  |  |  |
| **Media: 0.01%** |  |  |  |  |
| Virgin Media Secured Finance PLC144A | 4.50 | &nbsp;&nbsp; 8-15-2030 | 1385000 | &nbsp;&nbsp; **1262507** |
| **Telecommunications: 0.39%** |  |  |  |  |
| Colombia Telecomunicaciones SA ESP144A | 4.95 | &nbsp;&nbsp; 7-17-2030 | 4095000 | &nbsp;&nbsp; 3836646 |
| Nokia Oyj | 6.63 | &nbsp;&nbsp; 5-15-2039 | 4165000 | &nbsp;&nbsp; 4510491 |
| &nbsp;&nbsp; Rogers Communications, Inc. (5 Year Treasury Constant <br> Maturity+2.62%)±<br>| 7.13 | &nbsp;&nbsp; 4-15-2055 | 12825000 | &nbsp;&nbsp; 13582583 |
| &nbsp;&nbsp; TELUS Corp. (5 Year Treasury Constant <br> Maturity+2.52%)±<br>| 6.63 | &nbsp;&nbsp; 6-9-2056 | 9745000 | &nbsp;&nbsp; 9823785 |
| &nbsp;&nbsp; TELUS Corp. (5 Year Treasury Constant <br> Maturity+2.71%)±<br>| 7.00 | &nbsp;&nbsp; 10-15-2055 | 9340000 | &nbsp;&nbsp; 9856082 |
|  |  |  |  | &nbsp;&nbsp; **41609587** |

---

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

28 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Consumer, cyclical: 0.69%** |  |  |  |  |
| **Airlines: 0.04%** |  |  |  |  |
| &nbsp;&nbsp; Air Canada Pass-Through Trust Series 2020-1 <br> Class C144A<br>| 10.50<br> %<br>| &nbsp;&nbsp; 7-15-2026 | $4000000 | &nbsp;&nbsp; **$4083650** |
| **Apparel: 0.07%** |  |  |  |  |
| Gildan Activewear, Inc.144A | 5.40 | &nbsp;&nbsp; 10-7-2035 | 7155000 | &nbsp;&nbsp; **7234532** |
| **Leisure time: 0.58%** |  |  |  |  |
| Carnival Corp.144A | 6.13 | &nbsp;&nbsp; 2-15-2033 | 27365000 | &nbsp;&nbsp; 28329781 |
| Royal Caribbean Cruises Ltd. | 5.25 | &nbsp;&nbsp; 2-27-2038 | 8715000 | &nbsp;&nbsp; 8728708 |
| Royal Caribbean Cruises Ltd.144A | 5.63 | &nbsp;&nbsp; 9-30-2031 | 1575000 | &nbsp;&nbsp; 1623505 |
| Royal Caribbean Cruises Ltd.144A | 6.00 | &nbsp;&nbsp; 2-1-2033 | 23655000 | &nbsp;&nbsp; 24505165 |
|  |  |  |  | &nbsp;&nbsp; **63187159** |
| **Consumer, non-cyclical: 0.12%** |  |  |  |  |
| **Beverages: 0.11%** |  |  |  |  |
| Becle SAB de CV144A | 2.50 | &nbsp;&nbsp; 10-14-2031 | 13625000 | &nbsp;&nbsp; **11952654** |
| **Cosmetics/Personal Care: 0.01%** |  |  |  |  |
| Perrigo Finance Unlimited Co. | 4.90 | &nbsp;&nbsp; 12-15-2044 | 1500000 | &nbsp;&nbsp; **1216533** |
| **Energy: 1.23%** |  |  |  |  |
| **Oil & gas: 1.13%** |  |  |  |  |
| Aker BP ASA144A | 5.80 | &nbsp;&nbsp; 10-1-2054 | 8035000 | &nbsp;&nbsp; 7546741 |
| &nbsp;&nbsp; BP Capital Markets PLC (5 Year Treasury Constant <br> Maturity+2.15%)ʊ±<br>| 6.45 | &nbsp;&nbsp; 12-1-2033 | 10060000 | &nbsp;&nbsp; 10722662 |
| &nbsp;&nbsp; BP Capital Markets PLC (5 Year Treasury Constant <br> Maturity+4.40%)ʊ±<br>| 4.88 | &nbsp;&nbsp; 3-22-2030 | 25005000 | &nbsp;&nbsp; 24922038 |
| Harbour Energy PLC144A | 6.33 | &nbsp;&nbsp; 4-1-2035 | 25155000 | &nbsp;&nbsp; 26199342 |
| Santos Finance Ltd.144A | 5.75 | &nbsp;&nbsp; 11-13-2035 | 14000000 | &nbsp;&nbsp; 14315596 |
| Saudi Arabian Oil Co.144A | 5.00 | &nbsp;&nbsp; 2-2-2036 | 25895000 | &nbsp;&nbsp; 25929958 |
| Saudi Arabian Oil Co.144A | 6.38 | &nbsp;&nbsp; 6-2-2055 | 11850000 | &nbsp;&nbsp; 12488268 |
|  |  |  |  | &nbsp;&nbsp; **122124605** |
| **Pipelines: 0.10%** |  |  |  |  |
| &nbsp;&nbsp; Enbridge, Inc. (5 Year Treasury Constant <br> Maturity+3.71%)±<br>| 7.38 | &nbsp;&nbsp; 1-15-2083 | 2580000 | &nbsp;&nbsp; 2670230 |
| &nbsp;&nbsp; Enbridge, Inc. Series 20-A (5 Year Treasury Constant <br> Maturity+5.31%)±<br>| 5.75 | &nbsp;&nbsp; 7-15-2080 | 8705000 | &nbsp;&nbsp; 8859610 |
|  |  |  |  | &nbsp;&nbsp; **11529840** |
| **Financial: 4.78%** |  |  |  |  |
| **Banks: 3.74%** |  |  |  |  |
| AIB Group PLC (U.S. SOFR+1.65%)144A± | 5.32 | &nbsp;&nbsp; 5-15-2031 | 14560000 | &nbsp;&nbsp; 15124908 |
| Banco Bradesco SA144A | 5.38 | &nbsp;&nbsp; 1-20-2031 | 10295000 | &nbsp;&nbsp; 10377360 |
| &nbsp;&nbsp; Banco Mercantil del Norte SA (5 Year Treasury Constant <br> Maturity+4.07%)144Aʊ±<br>| 8.38 | &nbsp;&nbsp; 5-20-2031 | 5000000 | &nbsp;&nbsp; 5343750 |
| &nbsp;&nbsp; Banco Mercantil del Norte SA (5 Year Treasury Constant <br> Maturity+4.64%)144Aʊ±<br>| 5.88 | &nbsp;&nbsp; 1-24-2027 | 9050000 | &nbsp;&nbsp; 9038911 |

---

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

Allspring Core Plus Bond Fund \| 29

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Banks**(continued) |  |  |  |  |
| &nbsp;&nbsp; Banco Nacional de Comercio Exterior SNC (5 Year <br> Treasury Constant Maturity+2.00%)144A±<br>| 2.72<br> %<br>| &nbsp;&nbsp; 8-11-2031 | $8850000 | &nbsp;&nbsp; $8754624 |
| Banco Santander Chile144A | 4.55 | &nbsp;&nbsp; 11-20-2030 | 8465000 | &nbsp;&nbsp; 8522477 |
| &nbsp;&nbsp; Banco Santander Mexico SA Institucion de Banca <br> Multiple Grupo Financiero Santand (5 Year Treasury <br> Constant Maturity+3.00%)144A±<br>| 7.53 | &nbsp;&nbsp; 10-1-2028 | 6900000 | &nbsp;&nbsp; 7363004 |
| &nbsp;&nbsp; Bancolombia SA (5 Year Treasury Constant <br> Maturity+4.32%)±<br>| 8.63 | &nbsp;&nbsp; 12-24-2034 | 6040000 | &nbsp;&nbsp; 6464298 |
| Banque Federative du Credit Mutuel SA144A | 5.19 | &nbsp;&nbsp; 2-16-2028 | 18705000 | &nbsp;&nbsp; 19128536 |
| Barclays PLC (U.S. SOFR+1.23%)± | 5.37 | &nbsp;&nbsp; 2-25-2031 | 23725000 | &nbsp;&nbsp; 24627229 |
| Barclays PLC (U.S. SOFR+1.51%)± | 5.21 | &nbsp;&nbsp; 2-24-2037 | 10380000 | &nbsp;&nbsp; 10370203 |
| &nbsp;&nbsp; BBVA Mexico SA Institucion De Banca Multiple Grupo <br> Financiero (5 Year Treasury Constant <br> Maturity+4.31%)144A±<br>| 5.88 | &nbsp;&nbsp; 9-13-2034 | 3800000 | &nbsp;&nbsp; 3842078 |
| &nbsp;&nbsp; BNP Paribas SA (5 Year Treasury Constant <br> Maturity+2.85%)144Aʊ±<br>| 6.88 | &nbsp;&nbsp; 12-15-2033 | 21645000 | &nbsp;&nbsp; 21759242 |
| &nbsp;&nbsp; BNP Paribas SA (5 Year Treasury Constant <br> Maturity+3.73%)144Aʊ±<br>| 8.00 | &nbsp;&nbsp; 8-22-2031 | 3145000 | &nbsp;&nbsp; 3435048 |
| &nbsp;&nbsp; BNP Paribas SA (5 Year Treasury Constant <br> Maturity+4.90%)144Aʊ±<br>| 7.75 | &nbsp;&nbsp; 8-16-2029 | 5220000 | &nbsp;&nbsp; 5556199 |
| &nbsp;&nbsp; Canadian Imperial Bank of Commerce <br> (U.S. SOFR+0.79%)±<br>| 4.28 | &nbsp;&nbsp; 1-29-2030 | 22590000 | &nbsp;&nbsp; 22741774 |
| &nbsp;&nbsp; Commonwealth Bank of Australia (1 Year Treasury <br> Constant Maturity+1.32%)144A±<br>| 5.93 | &nbsp;&nbsp; 3-14-2046 | 24890000 | &nbsp;&nbsp; 26009128 |
| Credit Agricole SA (U.S. SOFR+1.36%)144A± | 4.82 | &nbsp;&nbsp; 9-25-2033 | 13575000 | &nbsp;&nbsp; 13677433 |
| Credit Agricole SA (U.S. SOFR+1.46%)144A± | 5.22 | &nbsp;&nbsp; 5-27-2031 | 12430000 | &nbsp;&nbsp; 12852599 |
| &nbsp;&nbsp; Danske Bank AS (1 Year Treasury Constant <br> Maturity+1.40%)144A±<br>| 5.71 | &nbsp;&nbsp; 3-1-2030 | 14365000 | &nbsp;&nbsp; 14991995 |
| &nbsp;&nbsp; Danske Bank AS (1 Year Treasury Constant <br> Maturity+1.75%)144A±<br>| 4.30 | &nbsp;&nbsp; 4-1-2028 | 24800000 | &nbsp;&nbsp; 24891690 |
| Deutsche Bank AG (U.S. SOFR+1.10%)± | 4.47 | &nbsp;&nbsp; 12-10-2031 | 19490000 | &nbsp;&nbsp; 19601742 |
| HSBC Holdings PLC (U.S. SOFR+1.57%)± | 5.24 | &nbsp;&nbsp; 5-13-2031 | 23610000 | &nbsp;&nbsp; 24459150 |
| &nbsp;&nbsp; Lloyds Banking Group PLC (5 Year Treasury Constant <br> Maturity+4.82%)ʊ±<br>| 6.75 | &nbsp;&nbsp; 6-27-2026 | 8525000 | &nbsp;&nbsp; 8576610 |
| &nbsp;&nbsp; National Australia Bank Ltd. (5 Year Treasury Constant <br> Maturity+1.70%)144A±<br>| 3.35 | &nbsp;&nbsp; 1-12-2037 | 16365000 | &nbsp;&nbsp; 15182517 |
| NatWest Markets PLC144A | 1.60 | &nbsp;&nbsp; 9-29-2026 | 4135000 | &nbsp;&nbsp; 4079583 |
| &nbsp;&nbsp; UBS Group AG (1 Year Treasury Constant <br> Maturity+0.85%)144A±<br>| 1.49 | &nbsp;&nbsp; 8-10-2027 | 16330000 | &nbsp;&nbsp; 16147184 |
| &nbsp;&nbsp; UBS Group AG (1 Year Treasury Constant <br> Maturity+2.05%)144A±<br>| 4.70 | &nbsp;&nbsp; 8-5-2027 | 9625000 | &nbsp;&nbsp; 9650306 |
| &nbsp;&nbsp; UBS Group AG (5 Year Treasury Constant <br> Maturity+3.40%)144Aʊ±<br>| 4.88 | &nbsp;&nbsp; 2-12-2027 | 3940000 | &nbsp;&nbsp; 3923556 |
| UBS Group AG (U.S. SOFR+1.73%)144A± | 3.09 | &nbsp;&nbsp; 5-14-2032 | 13985000 | &nbsp;&nbsp; 13086708 |
| &nbsp;&nbsp; UBS Group AG (USD SOFR ICE Swap Rate 11:00am NY 5 <br> Year+3.63%)144Aʊ±<br>| 6.85 | &nbsp;&nbsp; 9-10-2029 | 15035000 | &nbsp;&nbsp; 15336746 |
|  |  |  |  | &nbsp;&nbsp; **404916588** |

---

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

30 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Diversified financial services: 0.30%** |  |  |  |  |
| &nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation <br> Trust (5 Year Treasury Constant Maturity+2.72%)±<br>| 6.95<br> %<br>| &nbsp;&nbsp; 3-10-2055 | $6870000 | &nbsp;&nbsp; $7260730 |
| Avolon Holdings Funding Ltd.144A | 2.75 | &nbsp;&nbsp; 2-21-2028 | 4810000 | &nbsp;&nbsp; 4679899 |
| Avolon Holdings Funding Ltd.144A | 4.95 | &nbsp;&nbsp; 1-15-2028 | 6875000 | &nbsp;&nbsp; 6966307 |
| Avolon Holdings Funding Ltd.144A | 5.75 | &nbsp;&nbsp; 3-1-2029 | 7290000 | &nbsp;&nbsp; 7584047 |
| Brookfield Asset Management Ltd. | 6.08 | &nbsp;&nbsp; 9-15-2055 | 5785000 | &nbsp;&nbsp; 5881687 |
| Unifin Financiera SAB de CV144A† | 9.88 | &nbsp;&nbsp; 1-28-2029 | 2350000 | &nbsp;&nbsp; 183300 |
|  |  |  |  | &nbsp;&nbsp; **32555970** |
| **Insurance: 0.47%** |  |  |  |  |
| &nbsp;&nbsp; Allianz SE (5 Year Treasury Constant <br> Maturity+2.77%)144A±<br>| 5.60 | &nbsp;&nbsp; 9-3-2054 | 3600000 | &nbsp;&nbsp; 3681032 |
| &nbsp;&nbsp; Allianz SE (5 Year Treasury Constant <br> Maturity+3.23%)144A±<br>| 6.35 | &nbsp;&nbsp; 9-6-2053 | 21185000 | &nbsp;&nbsp; 22733141 |
| Aspen Insurance Holdings Ltd. | 5.75 | &nbsp;&nbsp; 7-1-2030 | 11597000 | &nbsp;&nbsp; 12163055 |
| RenaissanceRe Holdings Ltd. | 5.75 | &nbsp;&nbsp; 6-5-2033 | 6065000 | &nbsp;&nbsp; 6392926 |
| RenaissanceRe Holdings Ltd. | 5.80 | &nbsp;&nbsp; 4-1-2035 | 5790000 | &nbsp;&nbsp; 6067090 |
|  |  |  |  | &nbsp;&nbsp; **51037244** |
| **Private equity: 0.12%** |  |  |  |  |
| Brookfield Finance, Inc. | 5.33 | &nbsp;&nbsp; 1-15-2036 | 13500000 | &nbsp;&nbsp; **13472858** |
| **REITs: 0.15%** |  |  |  |  |
| Equinix Asia Financing Corp. Pte. Ltd.%% | 4.40 | &nbsp;&nbsp; 3-15-2031 | 16000000 | &nbsp;&nbsp; **15988004** |
| **Government securities: 0.28%** |  |  |  |  |
| **Multi-national: 0.28%** |  |  |  |  |
| African Export-Import Bank144A | 3.80 | &nbsp;&nbsp; 5-17-2031 | 16800000 | &nbsp;&nbsp; 15210233 |
| Banque Ouest Africaine de Developpement144A | 4.70 | &nbsp;&nbsp; 10-22-2031 | 7205000 | &nbsp;&nbsp; 6742614 |
| Banque Ouest Africaine de Developpement144A | 5.00 | &nbsp;&nbsp; 7-27-2027 | 8960000 | &nbsp;&nbsp; 8944848 |
|  |  |  |  | &nbsp;&nbsp; **30897695** |
| **Industrial: 0.38%** |  |  |  |  |
| **Electronics: 0.15%** |  |  |  |  |
| Flex Ltd. | 5.38 | &nbsp;&nbsp; 11-13-2035 | 15860000 | &nbsp;&nbsp; **16033831** |
| **Engineering & construction: 0.03%** |  |  |  |  |
| CIMIC Finance USA Pty. Ltd.144A | 7.00 | &nbsp;&nbsp; 3-25-2034 | 3540000 | &nbsp;&nbsp; **3897396** |
| **Packaging & containers: 0.04%** |  |  |  |  |
| Trivium Packaging Finance BV144A | 8.25 | &nbsp;&nbsp; 7-15-2030 | 4505000 | &nbsp;&nbsp; **4826229** |
| **Trucking & leasing: 0.16%** |  |  |  |  |
| SMBC Aviation Capital Finance DAC144A | 5.25 | &nbsp;&nbsp; 11-26-2035 | 11475000 | &nbsp;&nbsp; 11673392 |
| SMBC Aviation Capital Finance DAC144A | 5.45 | &nbsp;&nbsp; 5-3-2028 | 5140000 | &nbsp;&nbsp; 5276267 |
|  |  |  |  | &nbsp;&nbsp; **16949659** |
| **Utilities: 0.30%** |  |  |  |  |
| **Electric: 0.30%** |  |  |  |  |
| Comision Federal de Electricidad144A | 3.35 | &nbsp;&nbsp; 2-9-2031 | 17085000 | &nbsp;&nbsp; 15706275 |

---

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

Allspring Core Plus Bond Fund \| 31

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Electric**(continued) |  |  |  |  |
| Comision Federal de Electricidad144A | 3.88<br> %<br>| &nbsp;&nbsp; 7-26-2033 | $11350000 | &nbsp;&nbsp; $10138387 |
| Emera, Inc. Series 16-A (U.S. SOFR 3 Month+5.44%)± | 6.75 | &nbsp;&nbsp; 6-15-2076 | 6795000 | &nbsp;&nbsp; 6829023 |
|  |  |  |  | &nbsp;&nbsp; **32673685** |
| &nbsp;&nbsp; **Total yankee corporate bonds and notes** <br> **(Cost $905,645,801)**<br>|  |  |  | &nbsp;&nbsp; **920968363** |
| **Yankee government bonds: 1.52%** |  |  |  |  |
| **Argentina: 0.25%** |  |  |  |  |
| Argentinaøø | 0.75 | &nbsp;&nbsp; 7-9-2030 | 1226866 | &nbsp;&nbsp; 1039769 |
| Argentina | 1.00 | &nbsp;&nbsp; 7-9-2029 | 144417 | &nbsp;&nbsp; 127376 |
| Argentinaøø | 4.13 | &nbsp;&nbsp; 7-9-2035 | 1817118 | &nbsp;&nbsp; 1369744 |
| Ciudad Autonoma De Buenos Aires144A | 7.80 | &nbsp;&nbsp; 11-26-2033 | 11515000 | &nbsp;&nbsp; 11790669 |
| Province of Santa Fe144A | 8.10 | &nbsp;&nbsp; 12-11-2034 | 12580000 | &nbsp;&nbsp; 12296950 |
|  |  |  |  | &nbsp;&nbsp; **26624508** |
| **Bermuda: 0.05%** |  |  |  |  |
| Bermuda144A | 3.38 | &nbsp;&nbsp; 8-20-2050 | 7259000 | &nbsp;&nbsp; **5111280** |
| **Israel: 0.39%** |  |  |  |  |
| Israel | 4.50 | &nbsp;&nbsp; 1-13-2031 | 16755000 | &nbsp;&nbsp; 16785851 |
| Israel | 5.75 | &nbsp;&nbsp; 3-12-2054 | 16120000 | &nbsp;&nbsp; 15753970 |
| Israel | 5.88 | &nbsp;&nbsp; 1-13-2056 | 10000000 | &nbsp;&nbsp; 9933964 |
|  |  |  |  | &nbsp;&nbsp; **42473785** |
| **Ivory Coast: 0.11%** |  |  |  |  |
| Ivory Coast144A | 8.25 | &nbsp;&nbsp; 1-30-2037 | 10720000 | &nbsp;&nbsp; **11706533** |
| **Mexico: 0.54%** |  |  |  |  |
| Mexico | 5.63 | &nbsp;&nbsp; 9-22-2035 | 11170000 | &nbsp;&nbsp; 11136490 |
| Mexico | 6.00 | &nbsp;&nbsp; 5-7-2036 | 8495000 | &nbsp;&nbsp; 8696756 |
| Mexico | 6.13 | &nbsp;&nbsp; 2-9-2038 | 13585000 | &nbsp;&nbsp; 13752775 |
| Mexico | 6.35 | &nbsp;&nbsp; 2-9-2035 | 14090000 | &nbsp;&nbsp; 14844519 |
| Mexico | 3.77 | &nbsp;&nbsp; 5-24-2061 | 17000000 | &nbsp;&nbsp; 10650500 |
|  |  |  |  | &nbsp;&nbsp; **59081040** |
| **Panama: 0.09%** |  |  |  |  |
| Panama | 2.25 | &nbsp;&nbsp; 9-29-2032 | 12300000 | &nbsp;&nbsp; **10343685** |
| **Trinidad and Tobago: 0.09%** |  |  |  |  |
| Trinidad & Tobago144A | 6.50 | &nbsp;&nbsp; 1-28-2036 | 9630000 | &nbsp;&nbsp; **9731115** |
| **Total yankee government bonds (Cost $161,205,573)** |  |  |  | &nbsp;&nbsp; **165071946** |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  | Yield | Shares |  |
| **Short-term investments: 4.68%** |  |  |  |
| **Investment companies: 2.20%** |  |  |  |
| &nbsp;&nbsp; Allspring Government Money Market Fund Select <br> Class♠∞##<br>| 3.62 | 238913793 | &nbsp;&nbsp; **238913793** |

---

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

32 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Yield | Maturity <br>date<br>| Principal | Value |
| **U.S. Treasury securities: 2.48%** |  |  |  |  |  |
| U.S. Treasury Bills☼ |  | 3.46<br> %<br>| &nbsp;&nbsp; 4-9-2026 | $270000000 | &nbsp;&nbsp; **$268967587** |
| **Total short-term investments (Cost $507,880,383)** |  |  |  |  | &nbsp;&nbsp; **507881380** |
| &nbsp;&nbsp; **Total investments in securities** <br> **(Cost $10,859,207,373)**<br>| 101.54<br> %<br>|  |  |  | &nbsp;&nbsp; 11009388990 |
| Other assets and liabilities, net | (1.54)<br>|  |  |  | &nbsp;&nbsp; (167169618)<br>|
| **Total net assets** | **100.00%**<br>|  |  |  | &nbsp;&nbsp; **$10842219372** |

---

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

---

| | |
|:---|:---|
| ± | Variable rate investment. The rate shown is the rate in effect at period end. |
| ±± | The coupon of the security is adjusted based on the principal and/or interest payments received from the underlying pool of mortgages as well as the credit quality <br> and the actual prepayment speed of the underlying mortgages. The rate shown is the rate in effect at period end.<br>|
| %% | The security is purchased on a when-issued basis. |
| ƒ | Investment in an interest-only security that entitles holders to receive only the interest payments on the underlying mortgages. The principal amount shown is the <br> notional amount of the underlying mortgages. The rate represents the coupon rate.<br>|
| 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>|
| ♦ | The security is fair valued in accordance with procedures approved by Allspring Funds Management, LLC. |
| ‡ | Security is valued using significant unobservable inputs. |
| † | Non-income-earning security |
| ¤ | The security is issued in zero coupon form with no periodic interest payments. |
| ʊ | Security is perpetual in nature and has no stated maturity date. The date shown reflects the next call date. |
| 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 issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
| ∞ | The rate represents the 7-day annualized yield at period end. |
| ☼ | Zero coupon security. The rate represents the current yield to maturity. |

---

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

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| AG | Assured Guaranty Incorporation |
| AUD | Australian dollar |
| BDC | Business Development Company |
| BRL | Brazilian real |
| CAB | Capital appreciation bond |
| CLO | Collateralized loan obligation |
| CLP | Chile peso |
| COP | Colombian peso |
| CZK | Czech Republic koruna |
| EUR | Euro |
| EURIBOR | Euro Interbank Offered Rate |
| FHLMC | Federal Home Loan Mortgage Corporation |
| FNMA | Federal National Mortgage Association |
| GBP | Great British pound |
| GNMA | Government National Mortgage Association |
| MXN | Mexican peso |
| NPFGC | National Public Finance Guarantee Corporation |
| REIT | Real estate investment trust |
| RFUCCT1Y | Refinitiv USD IBOR Consumer Cash Fallbacks Term 1-year |
| SEK | Sweden krona |
| SGD | Singapore dollar |
| SOFR | Secured Overnight Financing Rate |
| STRIPS | Separate trading of registered interest and principal of securities |
| ZAR | South African rand |

---

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

Allspring Core Plus Bond Fund \| 33

------

Portfolio of investments—February 28, 2026 (unaudited)

**Investments in affiliates**

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| Allspring Government Money Market <br> Fund Select Class<br>| $459866843 | $2163160485 | $(2384113535)<br>| $0 | $0 | $238913793 | 238913793 | $5143243 |

---

**Forward foreign currency contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Currency to be <br>received | Currency to be <br>received | &nbsp;&nbsp;&nbsp; Currency to be <br>delivered | &nbsp;&nbsp;&nbsp; Currency to be <br>delivered | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date<br>| &nbsp;&nbsp; Unrealized <br>gains<br>| &nbsp;&nbsp; Unrealized <br>losses<br>|
| USD | 31473018 | EUR | 26950000 | Bank of New York Mellon Corp. | 3-9-2026 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $(380344)<br>|
| USD | 471958237 | EUR | 403580000 | Bank of New York Mellon Corp. | 3-9-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (5050305)<br>|
| EUR | 52893000 | USD | 62233047 | Bank of New York Mellon Corp. | 3-9-2026 | &nbsp;&nbsp;&nbsp; 283462 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 28659446 | EUR | 23900000 | Bank of New York Mellon Corp. | 3-9-2026 | &nbsp;&nbsp;&nbsp; 411009 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 103314351 | BRL | 569665000 | Bank of New York Mellon Corp. | 3-16-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (7436530)<br>|
| BRL | 417800000 | USD | 79357241 | State Street Bank & Trust Co. | 3-16-2026 | &nbsp;&nbsp;&nbsp; 1868951 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 69606136 | AUD | 97772000 | Bank of New York Mellon Corp. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 30065 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 26350074 | SEK | 241170000 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (385784)<br>|
| USD | 26567306 | ZAR | 425850000 | Bank of New York Mellon Corp. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (147263)<br>|
| USD | 14149564 | CLP | 12100000000 | Morgan Stanley, Inc. | 3-23-2026 | &nbsp;&nbsp;&nbsp; 285795 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 26217809 | SGD | 33630000 | Bank of New York Mellon Corp. | 3-23-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (407046)<br>|
| SGD | 423000 | USD | 334153 | Bank of New York Mellon Corp. | 3-23-2026 | &nbsp;&nbsp;&nbsp; 736 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 25123614 | CZK | 523400000 | Bank of New York Mellon Corp. | 3-31-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (405073)<br>|
| USD | 28000139 | MXN | 482700000 | State Street Bank & Trust Co. | 3-31-2026 | &nbsp;&nbsp;&nbsp; 39971 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 55271094 | COP | 204901000000 | Morgan Stanley, Inc. | 4-13-2026 | &nbsp;&nbsp;&nbsp; 1208433 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 93889360 | GBP | 68775000 | Bank of New York Mellon Corp. | 5-18-2026 | &nbsp;&nbsp;&nbsp; 1181257 | &nbsp;&nbsp;&nbsp; 0 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; **$5309679** | &nbsp;&nbsp;&nbsp; **$(14212345)**<br>|

---

**Futures contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Number of <br>contracts<br>| Expiration <br>date<br>| Notional <br>cost<br>| Notional <br>value<br>| Unrealized <br>gains<br>| Unrealized <br>losses<br>|
| **Long** |  |  |  |  |  |  |
| 10-Year U.S. Treasury Notes | &nbsp;&nbsp; 3746 | &nbsp;&nbsp; 6-18-2026 | &nbsp;&nbsp; $424915011 | &nbsp;&nbsp; $426341625 | &nbsp;&nbsp; $1426614 | &nbsp;&nbsp; $0 |
| Ultra U.S. Treasury Bond | &nbsp;&nbsp; 1137 | &nbsp;&nbsp; 6-18-2026 | &nbsp;&nbsp; 136924160 | &nbsp;&nbsp; 138252094 | &nbsp;&nbsp; 1327934 | &nbsp;&nbsp; 0 |
| 2-Year U.S. Treasury Notes | &nbsp;&nbsp; 8768 | &nbsp;&nbsp; 6-30-2026 | &nbsp;&nbsp; 1832961697 | &nbsp;&nbsp; 1834909504 | &nbsp;&nbsp; 1947807 | &nbsp;&nbsp; 0 |
| 5-Year U.S. Treasury Notes | &nbsp;&nbsp; 3767 | &nbsp;&nbsp; 6-30-2026 | &nbsp;&nbsp; 413757677 | &nbsp;&nbsp; 414899734 | &nbsp;&nbsp; 1142057 | &nbsp;&nbsp; 0 |
| **Short** |  |  |  |  |  |  |
| 10-Year Euro BUND Index | &nbsp;&nbsp; (455)<br>| &nbsp;&nbsp; 3-6-2026 | &nbsp;&nbsp; (69030690)<br>| &nbsp;&nbsp; (70015302)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (984612)<br>|
| 2-Year Euro SCHATZ | &nbsp;&nbsp; (317)<br>| &nbsp;&nbsp; 3-6-2026 | &nbsp;&nbsp; (40035135)<br>| &nbsp;&nbsp; (40089931)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (54796)<br>|
| 5-Year Euro-BOBL Futures | &nbsp;&nbsp; (939)<br>| &nbsp;&nbsp; 3-6-2026 | &nbsp;&nbsp; (129258429)<br>| &nbsp;&nbsp; (130324515)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (1066086)<br>|
| Ultra 10-Year U.S. Treasury Notes | &nbsp;&nbsp; (622)<br>| &nbsp;&nbsp; 6-18-2026 | &nbsp;&nbsp; (72189817)<br>| &nbsp;&nbsp; (72608781)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (418964)<br>|
|  |  |  |  |  | &nbsp;&nbsp; **$5844412** | &nbsp;&nbsp; **$(2524458)**<br>|

---

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

34 \| Allspring Core Plus Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

**Centrally cleared credit default swap contracts** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference index | Fixed rate | &nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp; Maturity <br>date<br>| Notional <br>amount | Notional <br>amount | Value | Premiums <br>paid <br>(received)<br>| Unrealized <br>gains<br>| Unrealized <br>losses<br>|
| **Buy Protection** |  |  |  |  |  |  |  |  |  |
| Markit CDX North American High Yield <br> Series 44 <br>| 5.00% | Quarterly | 6-20-2030 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 45257850 | &nbsp;&nbsp; $3658928 | &nbsp;&nbsp; $2852806 | &nbsp;&nbsp; $806122 | &nbsp;&nbsp; $0 |

---

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

Allspring Core Plus Bond Fund \| 35

------

Statement of assets and liabilities—February 28, 2026 (unaudited)

Financial statements

Statement of assets and liabilities

---

| | |
|:---|:---|
| Assets |  |
| Investments in unaffiliated securities, at value (cost $10,620,293,580) | $10770475197 |
| Investments in affiliated securities, at value (cost $238,913,793) | 238913793 |
| Cash | 526305 |
| Cash at broker segregated for futures contracts | 30456000 |
| Segregated cash for forward foreign currency contracts | 10800000 |
| Segregated cash for swap contracts | 2976561 |
| Foreign currency, at value (cost $1,985,601) | 1989923 |
| Receivable for investments sold | 212148772 |
| Receivable for dividends and interest | 88217285 |
| Receivable for Fund shares sold | 40499854 |
| Receivable for daily variation margin on open futures contracts | 5506797 |
| Unrealized gains on forward foreign currency contracts | 5309679 |
| Principal paydown receivable | 15512 |
| Prepaid expenses and other assets | 503730 |
| **Total assets** | **11408339408** |
| Liabilities |  |
| Payable for investments purchased | 523754787 |
| Payable for Fund shares redeemed | 20752991 |
| Unrealized losses on forward foreign currency contracts | 14212345 |
| Cash collateral due to broker for forward foreign currency contracts | 2340000 |
| Management fee payable | 2143035 |
| Payable for daily variation margin on open futures contracts | 914632 |
| Cash due to broker | 760000 |
| Administration fees payable | 678410 |
| Shareholder servicing fees payable | 325633 |
| Payable for daily variation margin on centrally cleared swap contracts | 179560 |
| Distribution fee payable | 36748 |
| Accrued expenses and other liabilities | 21895 |
| **Total liabilities** | **566120036** |
| **Total net assets**  | **$10842219372** |
| Net assets consist of |  |
| Paid-in capital | $11043418922 |
| Total distributable loss | (201199550)<br>|
| **Total net assets** | **$10842219372** |

---

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

36 \| Allspring Core Plus Bond Fund

------

Statement of assets and liabilities—February 28, 2026 (unaudited)

Statement of assets and liabilities

---

| | |
|:---|:---|
| Computation of net asset value and offering price per share |  |
| Net assets–Class A | $341649762 |
| Shares outstanding–Class A<sup>1</sup> <br>| 29800436 |
| Net asset value per share–Class A | $11.46 |
| Maximum offering price per share – Class A<sup>2</sup> <br>| $12.00 |
| Net assets–Class C | $62032755 |
| Shares outstanding–Class C<sup>1</sup> <br>| 5415272 |
| Net asset value per share–Class C | $11.46 |
| Net assets–Class R6 | $1148100653 |
| Shares outstanding–Class R6<sup>1</sup> <br>| 100006357 |
| Net asset value per share–Class R6 | $11.48 |
| Net assets–Administrator Class | $1235760562 |
| Shares outstanding–Administrator Class<sup>1</sup> <br>| 107988522 |
| Net asset value per share–Administrator Class | $11.44 |
| Net assets–Institutional Class | $8054675640 |
| Shares outstanding–Institutional Class<sup>1</sup> <br>| 701907844 |
| Net asset value per share–Institutional Class | $11.48 |

---

<sup>1</sup> The Fund has an unlimited number of authorized shares.

<sup>2</sup> Maximum offering price is computed as 100/95.50 of net asset value. On investments of $50,000 or more, the offering price is reduced.

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

Allspring Core Plus Bond Fund \| 37

------

Statement of operations—six months ended February 28, 2026 (unaudited)

Statement of operations

---

| | |
|:---|:---|
| Investment income |  |
| Interest | $260653836 |
| Income from affiliated securities | 5143243 |
| Dividends | 1333519 |
| **Total investment income** | **267130598** |
| Expenses |  |
| Management fee | 18919012 |
| Administration fees |  |
| Class A | 258913 |
| Class C | 43717 |
| Class R6 | 162038 |
| Administrator Class | 627733 |
| Institutional Class | 3029710 |
| Shareholder servicing fees |  |
| Class A | 431522 |
| Class C | 72862 |
| Administrator Class | 1569331 |
| Distribution fee |  |
| Class C | 218588 |
| Custody and accounting fees | 238007 |
| Professional fees | 48509 |
| Registration fees | 184099 |
| Shareholder report expenses | 209997 |
| Trustees' fees and expenses | 35983 |
| Other fees and expenses | 76233 |
| **Total expenses** | **26126254** |
| Less: Fee waivers and/or expense reimbursements |  |
| Fund-level | (5780412)<br>|
| Class A | (22330)<br>|
| Administrator Class | (133808)<br>|
| **Net expenses** | **20189704** |
| **Net investment income** | **246940894** |

---

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

38 \| Allspring Core Plus Bond Fund

------

Statement of operations—six months ended February 28, 2026 (unaudited)

Statement of operations

---

| | |
|:---|:---|
| Realized and unrealized gains (losses) on investments |  |
| Net realized gains (losses) on |  |
| Unaffiliated securities (net of foreign capital gains tax of $110,341) | $55214364 |
| Foreign currency and foreign currency translations | (4520352)<br>|
| Forward foreign currency contracts | (16834041)<br>|
| Futures contracts | 20672994 |
| Swap contracts | 470359 |
| **Net realized gains on investments**  | **55003324** |
| Net change in unrealized gains (losses) on |  |
| Unaffiliated securities (net of deferred foreign capital gains tax of $80,054) | 111575336 |
| Foreign currency and foreign currency translations | (66941)<br>|
| Forward foreign currency contracts | 326291 |
| Futures contracts | (1903941)<br>|
| Swap contracts | 240240 |
| **Net change in unrealized gains (losses) on investments** | **110170985** |
| **Net realized and unrealized gains (losses) on investments** | **165174309** |
| **Net increase in net assets resulting from operations** | **$412115203** |

---

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

Allspring Core Plus Bond Fund \| 39

------

Statement of changes in net assets

Statement of changes in net assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six months ended<br> February 28, 2026<br> (unaudited) | Six months ended<br> February 28, 2026<br> (unaudited) | Year ended<br> August 31, 2025 | Year ended<br> August 31, 2025 |
| Operations |  |  |  |  |
| Net investment income |  | &nbsp;&nbsp; $246940894 |  | &nbsp;&nbsp; $450790866 |
| Net realized gains (losses) on investments |  | &nbsp;&nbsp; 55003324 |  | &nbsp;&nbsp; (117635390)<br>|
| Net change in unrealized gains (losses) on investments |  | &nbsp;&nbsp; 110170985 |  | &nbsp;&nbsp; 2876028 |
| **Net increase in net assets resulting from operations** |  | &nbsp;&nbsp; **412115203** |  | &nbsp;&nbsp; **336031504** |
| Distributions to shareholders from |  |  |  |  |
| Net investment income and net realized gains |  |  |  |  |
| Class A |  | &nbsp;&nbsp; (7738245)<br>|  | &nbsp;&nbsp; (15781344)<br>|
| Class C |  | &nbsp;&nbsp; (1091773)<br>|  | &nbsp;&nbsp; (2004591)<br>|
| Class R6 |  | &nbsp;&nbsp; (26286627)<br>|  | &nbsp;&nbsp; (46250658)<br>|
| Administrator Class |  | &nbsp;&nbsp; (28450750)<br>|  | &nbsp;&nbsp; (52429762)<br>|
| Institutional Class |  | &nbsp;&nbsp; (182739515)<br>|  | &nbsp;&nbsp; (321814223)<br>|
| **Total distributions to shareholders** |  | &nbsp;&nbsp; **(246306910)**<br>|  | &nbsp;&nbsp; **(438280578)**<br>|
| Capital share transactions | Shares |  | &nbsp;&nbsp; Shares |  |
| Proceeds from shares sold |  |  |  |  |
| Class A | 5737332 | &nbsp;&nbsp; 65306917 | &nbsp;&nbsp; 12019284 | &nbsp;&nbsp; 135101824 |
| Class C | 989010 | &nbsp;&nbsp; 11247944 | &nbsp;&nbsp; 1621649 | &nbsp;&nbsp; 18363761 |
| Class R6 | 19719069 | &nbsp;&nbsp; 224613852 | &nbsp;&nbsp; 70592066 | &nbsp;&nbsp; 792952550 |
| Administrator Class | 8996047 | &nbsp;&nbsp; 102258121 | &nbsp;&nbsp; 84882907 | &nbsp;&nbsp; 958259567 |
| Institutional Class | 135963878 | &nbsp;&nbsp; 1549904025 | &nbsp;&nbsp; 352011023 | &nbsp;&nbsp; 3965707849 |
|  |  | &nbsp;&nbsp; 1953330859 |  | &nbsp;&nbsp; 5870385551 |
| Reinvestment of distributions |  |  |  |  |
| Class A | 578112 | &nbsp;&nbsp; 6575770 | &nbsp;&nbsp; 1209163 | &nbsp;&nbsp; 13525032 |
| Class C | 92768 | &nbsp;&nbsp; 1054342 | &nbsp;&nbsp; 173472 | &nbsp;&nbsp; 1938950 |
| Class R6 | 1955349 | &nbsp;&nbsp; 22273153 | &nbsp;&nbsp; 3227784 | &nbsp;&nbsp; 36139538 |
| Administrator Class | 2506022 | &nbsp;&nbsp; 28446317 | &nbsp;&nbsp; 4697662 | &nbsp;&nbsp; 52419897 |
| Institutional Class | 14585201 | &nbsp;&nbsp; 166018441 | &nbsp;&nbsp; 26035655 | &nbsp;&nbsp; 291506401 |
|  |  | &nbsp;&nbsp; 224368023 |  | &nbsp;&nbsp; 395529818 |
| Payment for shares redeemed |  |  |  |  |
| Class A | (6997342)<br>| &nbsp;&nbsp; (79649096)<br>| &nbsp;&nbsp; (12767521)<br>| &nbsp;&nbsp; (142973775)<br>|
| Class C | (595027)<br>| &nbsp;&nbsp; (6763409)<br>| &nbsp;&nbsp; (1031726)<br>| &nbsp;&nbsp; (11553467)<br>|
| Class R6 | (14542530)<br>| &nbsp;&nbsp; (165666782)<br>| &nbsp;&nbsp; (39893663)<br>| &nbsp;&nbsp; (447117106)<br>|
| Administrator Class | (18057976)<br>| &nbsp;&nbsp; (205026853)<br>| &nbsp;&nbsp; (28327851)<br>| &nbsp;&nbsp; (316839888)<br>|
| Institutional Class | (89821529)<br>| &nbsp;&nbsp; (1023710267)<br>| &nbsp;&nbsp; (231843337)<br>| &nbsp;&nbsp; (2597033539)<br>|
|  |  | &nbsp;&nbsp; (1480816407)<br>|  | &nbsp;&nbsp; (3515517775)<br>|
| **Net increase in net assets resulting from capital share transactions** |  | &nbsp;&nbsp; **696882475** |  | &nbsp;&nbsp; **2750397594** |
| **Total increase in net assets** |  | &nbsp;&nbsp; **862690768** |  | &nbsp;&nbsp; **2648148520** |
| Net assets |  |  |  |  |
| **Beginning of period** |  | &nbsp;&nbsp; **9979528604** |  | &nbsp;&nbsp; **7331380084** |
| **End of period** |  | &nbsp;&nbsp; **$10842219372** |  | &nbsp;&nbsp; **$9979528604** |

---

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

40 \| Allspring Core Plus Bond Fund

------

Financial highlights

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Class A | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$11.28** | &nbsp;&nbsp; **$11.42** | &nbsp;&nbsp; **$11.07** | &nbsp;&nbsp; **$11.57** | &nbsp;&nbsp; **$13.52** | &nbsp;&nbsp; **$13.77** |
| Net investment income | 0.26 <br><sup>1</sup><br>| 0.52 <br><sup>1</sup><br>| 0.51 <br><sup>1</sup><br>| 0.43 <br><sup>1</sup><br>| 0.26 | 0.24 |
| Net realized and unrealized gains (losses) on investments | 0.17 | &nbsp;&nbsp; (0.16)<br>| 0.35 | &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (1.88)<br>| 0.16 |
| Total from investment operations | 0.43 | 0.36 | 0.86 | &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (1.62)<br>| 0.40 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.25)<br>| &nbsp;&nbsp; (0.50)<br>| &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.27)<br>|
| Net realized gains | 0.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.11)<br>| &nbsp;&nbsp; (0.38)<br>|
| Total distributions to shareholders | (0.25)<br>| &nbsp;&nbsp; (0.50)<br>| &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (0.65)<br>|
| **Net asset value, end of period** | **$11.46** | &nbsp;&nbsp; **$11.28** | &nbsp;&nbsp; **$11.42** | &nbsp;&nbsp; **$11.07** | &nbsp;&nbsp; **$11.57** | &nbsp;&nbsp; **$13.52** |
| **Total return**<sup>2</sup> <br>| **3.88%**<br>| **3.28%**<br>| **8.05%**<br>| &nbsp;&nbsp; **(0.65)%**<br>| &nbsp;&nbsp; **(12.21)%**<br>| **3.00%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.78<br> %<br>| 0.79<br> %<br>| 0.81<br> %<br>| 0.84<br> %<br>| 0.85<br> %<br>| 0.85<br> %<br>|
| Net expenses | 0.65<br> %<br>| 0.65<br> %<br>| 0.67<br> %<br>| 0.68<br> %<br>| 0.69<br> %<br>| 0.72<br> %<br>|
| Net investment income | 4.49<br> %<br>| 4.65<br> %<br>| 4.62<br> %<br>| 3.84<br> %<br>| 2.03<br> %<br>| 1.90<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 66<br> %<br>| &nbsp;&nbsp; 173<br> %<br>| &nbsp;&nbsp; 168<br> %<br>| &nbsp;&nbsp; 254<br> %<br>| &nbsp;&nbsp; 288<br> %<br>| &nbsp;&nbsp; 194<br> %<br>|
| Net assets, end of period (000s omitted) | $341650 | &nbsp;&nbsp; $343883 | &nbsp;&nbsp; $342820 | &nbsp;&nbsp; $295536 | &nbsp;&nbsp; $250553 | &nbsp;&nbsp; $308270 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding

<sup>2</sup> Total return calculations do not include any sales charges. Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. 

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

Allspring Core Plus Bond Fund \| 41

------

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Class C | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$11.27** | &nbsp;&nbsp; **$11.41** | &nbsp;&nbsp; **$11.06** | &nbsp;&nbsp; **$11.56** | &nbsp;&nbsp; **$13.51** | &nbsp;&nbsp; **$13.77** |
| Net investment income | 0.21 <br><sup>1</sup><br>| 0.43 <br><sup>1</sup><br>| 0.43 <br><sup>1</sup><br>| 0.34 <br><sup>1</sup><br>| 0.16 | 0.14 |
| Net realized and unrealized gains (losses) on investments | 0.19 | &nbsp;&nbsp; (0.15)<br>| 0.35 | &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (1.88)<br>| 0.15 |
| Total from investment operations | 0.40 | 0.28 | 0.78 | &nbsp;&nbsp; (0.17)<br>| &nbsp;&nbsp; (1.72)<br>| 0.29 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.21)<br>| &nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.17)<br>|
| Net realized gains | 0.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.11)<br>| &nbsp;&nbsp; (0.38)<br>|
| Total distributions to shareholders | (0.21)<br>| &nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; (0.55)<br>|
| **Net asset value, end of period** | **$11.46** | &nbsp;&nbsp; **$11.27** | &nbsp;&nbsp; **$11.41** | &nbsp;&nbsp; **$11.06** | &nbsp;&nbsp; **$11.56** | &nbsp;&nbsp; **$13.51** |
| **Total return**<sup>2</sup> <br>| **3.58%**<br>| **2.51%**<br>| **7.25%**<br>| &nbsp;&nbsp; **(1.44)%**<br>| &nbsp;&nbsp; **(12.89)%**<br>| **2.16%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 1.52<br> %<br>| 1.54<br> %<br>| 1.56<br> %<br>| 1.59<br> %<br>| 1.60<br> %<br>| 1.60<br> %<br>|
| Net expenses | 1.41<br> %<br>| 1.42<br> %<br>| 1.42<br> %<br>| 1.43<br> %<br>| 1.45<br> %<br>| 1.48<br> %<br>|
| Net investment income | 3.74<br> %<br>| 3.88<br> %<br>| 3.87<br> %<br>| 3.08<br> %<br>| 1.28<br> %<br>| 1.13<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 66<br> %<br>| &nbsp;&nbsp; 173<br> %<br>| &nbsp;&nbsp; 168<br> %<br>| &nbsp;&nbsp; 254<br> %<br>| &nbsp;&nbsp; 288<br> %<br>| &nbsp;&nbsp; 194<br> %<br>|
| Net assets, end of period (000s omitted) | $62033 | &nbsp;&nbsp; $55557 | &nbsp;&nbsp; $47536 | &nbsp;&nbsp; $36849 | &nbsp;&nbsp; $32889 | &nbsp;&nbsp; $39628 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding

<sup>2</sup> Total return calculations do not include any sales charges. Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. 

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

42 \| Allspring Core Plus Bond Fund

------

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Class R6 | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$11.30** | &nbsp;&nbsp; **$11.44** | &nbsp;&nbsp; **$11.08** | &nbsp;&nbsp; **$11.58** | &nbsp;&nbsp; **$13.54** | &nbsp;&nbsp; **$13.79** |
| Net investment income | 0.28 <br><sup>1</sup><br>| 0.56 <br><sup>1</sup><br>| 0.56 <br><sup>1</sup><br>| 0.48 <br><sup>1</sup><br>| 0.30 | 0.30 |
| Net realized and unrealized gains (losses) on investments | 0.17 | &nbsp;&nbsp; (0.16)<br>| 0.35 | &nbsp;&nbsp; (0.52)<br>| &nbsp;&nbsp; (1.89)<br>| 0.15 |
| Total from investment operations | 0.45 | 0.40 | 0.91 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (1.59)<br>| 0.45 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.27)<br>| &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; (0.46)<br>| &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp; (0.32)<br>|
| Net realized gains | 0.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.11)<br>| &nbsp;&nbsp; (0.38)<br>|
| Total distributions to shareholders | (0.27)<br>| &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; (0.46)<br>| &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; (0.70)<br>|
| **Net asset value, end of period** | **$11.48** | &nbsp;&nbsp; **$11.30** | &nbsp;&nbsp; **$11.44** | &nbsp;&nbsp; **$11.08** | &nbsp;&nbsp; **$11.58** | &nbsp;&nbsp; **$13.54** |
| **Total return**<sup>2</sup> <br>| **4.07%**<br>| **3.66%**<br>| **8.53%**<br>| &nbsp;&nbsp; **(0.27)%**<br>| &nbsp;&nbsp; **(11.95)%**<br>| **3.37%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.41<br> %<br>| 0.42<br> %<br>| 0.44<br> %<br>| 0.46<br> %<br>| 0.47<br> %<br>| 0.47<br> %<br>|
| Net expenses | 0.30<br> %<br>| 0.30<br> %<br>| 0.30<br> %<br>| 0.30<br> %<br>| 0.31<br> %<br>| 0.35<br> %<br>|
| Net investment income | 4.86<br> %<br>| 5.01<br> %<br>| 5.00<br> %<br>| 4.25<br> %<br>| 2.50<br> %<br>| 2.28<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 66<br> %<br>| &nbsp;&nbsp; 173<br> %<br>| &nbsp;&nbsp; 168<br> %<br>| &nbsp;&nbsp; 254<br> %<br>| &nbsp;&nbsp; 288<br> %<br>| &nbsp;&nbsp; 194<br> %<br>|
| Net assets, end of period (000s omitted) | $1148101 | &nbsp;&nbsp; $1049298 | &nbsp;&nbsp; $674249 | &nbsp;&nbsp; $256948 | &nbsp;&nbsp; $141833 | &nbsp;&nbsp; $89048 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding <br> <sup>2</sup> Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized.

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

Allspring Core Plus Bond Fund \| 43

------

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Administrator Class | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$11.26** | &nbsp;&nbsp; **$11.40** | &nbsp;&nbsp; **$11.05** | &nbsp;&nbsp; **$11.54** | &nbsp;&nbsp; **$13.49** | &nbsp;&nbsp; **$13.75** |
| Net investment income | 0.26 <br><sup>1</sup><br>| 0.53 <br><sup>1</sup><br>| 0.52 <br><sup>1</sup><br>| 0.44 <br><sup>1</sup><br>| 0.26 | 0.26 |
| Net realized and unrealized gains (losses) on investments | 0.18 | &nbsp;&nbsp; (0.16)<br>| 0.34 | &nbsp;&nbsp; (0.50)<br>| &nbsp;&nbsp; (1.87)<br>| 0.14 |
| Total from investment operations | 0.44 | 0.37 | 0.86 | &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (1.61)<br>| 0.40 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.26)<br>| &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; (0.28)<br>|
| Net realized gains | 0.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.11)<br>| &nbsp;&nbsp; (0.38)<br>|
| Total distributions to shareholders | (0.26)<br>| &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; (0.34)<br>| &nbsp;&nbsp; (0.66)<br>|
| **Net asset value, end of period** | **$11.44** | &nbsp;&nbsp; **$11.26** | &nbsp;&nbsp; **$11.40** | &nbsp;&nbsp; **$11.05** | &nbsp;&nbsp; **$11.54** | &nbsp;&nbsp; **$13.49** |
| **Total return**<sup>2</sup> <br>| **3.92%**<br>| **3.34%**<br>| **8.08%**<br>| &nbsp;&nbsp; **(0.50)%**<br>| &nbsp;&nbsp; **(12.18)%**<br>| **3.04%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.73<br> %<br>| 0.74<br> %<br>| 0.76<br> %<br>| 0.78<br> %<br>| 0.79<br> %<br>| 0.79<br> %<br>|
| Net expenses | 0.60<br> %<br>| 0.60<br> %<br>| 0.60<br> %<br>| 0.60<br> %<br>| 0.61<br> %<br>| 0.62<br> %<br>|
| Net investment income | 4.55<br> %<br>| 4.70<br> %<br>| 4.66<br> %<br>| 3.89<br> %<br>| 2.09<br> %<br>| 1.95<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 66<br> %<br>| &nbsp;&nbsp; 173<br> %<br>| &nbsp;&nbsp; 168<br> %<br>| &nbsp;&nbsp; 254<br> %<br>| &nbsp;&nbsp; 288<br> %<br>| &nbsp;&nbsp; 194<br> %<br>|
| Net assets, end of period (000s omitted) | $1235761 | &nbsp;&nbsp; $1289896 | &nbsp;&nbsp; $607546 | &nbsp;&nbsp; $137624 | &nbsp;&nbsp; $140779 | &nbsp;&nbsp; $278294 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding <br> <sup>2</sup> Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized.

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

44 \| Allspring Core Plus Bond Fund

------

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Institutional Class | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$11.29** | &nbsp;&nbsp; **$11.43** | &nbsp;&nbsp; **$11.08** | &nbsp;&nbsp; **$11.58** | &nbsp;&nbsp; **$13.53** | &nbsp;&nbsp; **$13.79** |
| Net investment income | 0.27 <br><sup>1</sup><br>| 0.56 <br><sup>1</sup><br>| 0.55 <br><sup>1</sup><br>| 0.47 <br><sup>1</sup><br>| 0.29 | 0.29 |
| Net realized and unrealized gains (losses) on investments | 0.19 | &nbsp;&nbsp; (0.16)<br>| 0.35 | &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (1.87)<br>| 0.14 |
| Total from investment operations | 0.46 | 0.40 | 0.90 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (1.58)<br>| 0.43 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.27)<br>| &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; (0.46)<br>| &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp; (0.31)<br>|
| Net realized gains | 0.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.11)<br>| &nbsp;&nbsp; (0.38)<br>|
| Total distributions to shareholders | (0.27)<br>| &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; (0.46)<br>| &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; (0.69)<br>|
| **Net asset value, end of period** | **$11.48** | &nbsp;&nbsp; **$11.29** | &nbsp;&nbsp; **$11.43** | &nbsp;&nbsp; **$11.08** | &nbsp;&nbsp; **$11.58** | &nbsp;&nbsp; **$13.53** |
| **Total return**<sup>2</sup> <br>| **4.14%**<br>| **3.61%**<br>| **8.38%**<br>| &nbsp;&nbsp; **(0.32)%**<br>| &nbsp;&nbsp; **(11.92)%**<br>| **3.24%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.46<br> %<br>| 0.47<br> %<br>| 0.49<br> %<br>| 0.51<br> %<br>| 0.52<br> %<br>| 0.52<br> % <br>|
| Net expenses | 0.35<br> %<br>| 0.35<br> %<br>| 0.35<br> %<br>| 0.35<br> %<br>| 0.37<br> %<br>| 0.40<br> %<br>|
| Net investment income | 4.80<br> %<br>| 4.95<br> %<br>| 4.95<br> %<br>| 4.21<br> %<br>| 2.40<br> %<br>| 2.19<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 66<br> %<br>| &nbsp;&nbsp; 173<br> %<br>| &nbsp;&nbsp; 168<br> %<br>| &nbsp;&nbsp; 254<br> %<br>| &nbsp;&nbsp; 288<br> %<br>| &nbsp;&nbsp; 194<br> %<br>|
| Net assets, end of period (000s omitted) | $8054676 | &nbsp;&nbsp; $7240895 | &nbsp;&nbsp; $5659229 | &nbsp;&nbsp; $3658011 | &nbsp;&nbsp; $1965302 | &nbsp;&nbsp; $1774619 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding <br> <sup>2</sup> Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized.

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

Allspring Core Plus Bond Fund \| 45

------

Notes to financial statements (unaudited)

Notes to financial statements

1. ORGANIZATION

Allspring Funds Trust (the "Trust"), a Delaware statutory trust organized on March 10, 1999, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act"). As an investment company, the Trust follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services* – *Investment Companies*. These financial statements report on the Allspring Core Plus Bond Fund (the "Fund") which is a diversified series of the Trust.

2. SIGNIFICANT ACCOUNTING POLICIES

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

Securities valuation

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

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

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

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

Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange and therefore may not fully reflect trading or events that occur after the close of the principal exchange in which the foreign securities are traded, but before the close of the New York Stock Exchange. If such trading or events are expected to materially affect the value of such securities, then fair value pricing procedures implemented by Allspring Funds Management are applied. These procedures take into account multiple factors including movements in U.S. securities markets after foreign exchanges close. Foreign securities that are fair valued under these procedures are categorized as Level 2 and the application of these procedures may result in transfers between Level 1 and Level 2. Depending on market activity, such fair valuations may be frequent. Such fair value pricing may result in net asset values that are higher or lower than net asset values based on the last reported sales price or latest quoted bid price. On February 28, 2026, such fair value pricing was not used in pricing foreign securities.

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

Swap contracts are valued at the evaluated price provided by an independent pricing service or, if a reliable price is not available, the quoted bid price from an independent broker-dealer.

Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.

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

Foreign currency translation

The accounting records of the Fund are maintained in U.S. dollars. The values of other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee. Purchases and sales of securities, and income and expenses are converted at the rate of exchange on the respective dates of such transactions. Net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the U.S. dollar equivalent of the amounts actually paid or received. Net unrealized foreign exchange gains and losses arise from changes in the fair value of assets and liabilities other than investments in securities resulting from changes in exchange rates. The changes in net assets arising from

46 \| Allspring Core Plus Bond Fund

------

Notes to financial statements (unaudited)

changes in exchange rates of securities and the changes in net assets resulting from changes in market prices of securities are not separately presented. Such changes are included in net realized and unrealized gains or losses from investments.

When-issued transactions

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

Loans

The Fund may invest in direct debt instruments which are interests in amounts owed to lenders by corporate or other borrowers. The loans pay interest at rates which are periodically reset by reference to a base lending rate plus a spread. Investments in loans may be in the form of participations in loans or assignments of all or a portion of loans from third parties. When the Fund purchases participations, it generally has no rights to enforce compliance with the terms of the loan agreement with the borrower. As a result, the Fund assumes the credit risk of both the borrower and the lender that is selling the participation. When the Fund purchases assignments from lenders, it acquires direct rights against the borrower on the loan and may enforce compliance by the borrower with the terms of the loan agreement. Loans may include fully funded term loans or unfunded loan commitments, which are contractual obligations for future funding. Unfunded loan commitments represent the remaining obligation of the Fund to the borrower. At any point in time, up to the maturity date of the issue, the borrower may demand the unfunded portion. Unfunded amounts, if any, are marked to market and any unrealized gains or losses are recorded in the Statement of assets and liabilities.

Forward foreign currency contracts

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

Futures contracts

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

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

Swap contracts

Swap contracts are agreements between the Fund and a counterparty to exchange a series of cash flows over a specified period. Swap agreements are privately negotiated contracts between the Fund that are entered into as bilateral contracts in the over-the-counter market or centrally cleared ("centrally cleared swaps") with a central clearinghouse.

The Fund entered into centrally cleared swaps. In a centrally cleared swap, immediately following execution of the swap contract, the swap contract is novated to a central counterparty (the "CCP") and the Fund's counterparty on the swap agreement becomes the CCP. Upon entering into a centrally cleared swap, the Fund is required to deposit an initial margin with the broker in the form of cash or securities. Securities deposited as initial margin are designated in the Portfolio of investments and cash deposited is shown as cash segregated for centrally cleared swaps in the Statement of assets and liabilities. Pursuant to the contract, the Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract ("variation margin"). The variation margin is recorded as an unrealized gain (or loss) and shown as variation margin receivable (or payable) on centrally cleared swaps in the Statement of assets and liabilities. Payments received from (paid to) the counterparty are recorded as realized gains (losses) in the Statement of operations when the contract is closed.

Allspring Core Plus Bond Fund \| 47

------

Notes to financial statements (unaudited)

***Credit default swaps***

The Fund may enter into credit default swaps for hedging or speculative purposes to provide or receive a measure of protection against default on a referenced entity, obligation or index or a basket of single-name issuers or traded indexes. An index credit default swap references all the names in the index, and if a credit event is triggered, the credit event is settled based on that name's weight in the index. Credit default swaps are agreements in which the protection buyer pays fixed periodic payments to the protection seller in consideration for a promise from the protection seller to make a specific payment should a negative credit event take place with respect to the referenced entity (e.g., bankruptcy, failure to pay, obligation acceleration, repudiation, moratorium or restructuring).

The Fund may enter into credit default swaps as either the seller of protection or the buyer of protection. If the Fund is the buyer of protection and a credit event occurs, the Fund will either receive from the seller an amount equal to the notional amount of the swap and deliver the referenced security or underlying securities comprising the index, or receive a net settlement of cash equal to the notional amount of the swap less the recovery value of the security or underlying securities comprising the index. If the Fund is the seller of protection and a credit event occurs, the Fund will either pay the buyer an amount equal to the notional amount of the swap and take delivery of the referenced security or underlying securities comprising the index or pay a net settlement of cash equal to the notional amount of the swap less the recovery value of the security or underlying securities comprising the index.

As the seller of protection, the Fund is subject to investment exposure on the notional amount of the swap and has assumed the risk of default of the underlying security or index. As the buyer of protection, the Fund could be exposed to risks if the seller of the protection defaults on its obligation to perform, or if there are unfavorable changes in the fluctuation of interest rates.

By entering into credit default swap contracts, the Fund is exposed to credit risk. In addition, certain credit default swap contracts entered into by the Fund provide for conditions that result in events of default or termination that enable the counterparty to the agreement to cause an early termination of the transactions under those agreements.

Mortgage dollar roll transactions

The Fund may engage in mortgage dollar roll transactions through To Be Announced (TBA) mortgage-backed securities issued by Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC). In a mortgage dollar roll transaction, the Fund sells a mortgage-backed security to a financial institution, such as a bank or broker-dealer and simultaneously agrees to repurchase a substantially similar security from the institution at a later date at an agreed upon price. The mortgage-backed securities that are repurchased will bear the same interest rate as those sold, but generally will be collateralized by different pools of mortgages with different pre-payment histories. During the roll period, the Fund foregoes principal and interest paid on the securities. The Fund is compensated by the difference between the current sales price and the forward price for the future purchase as well as by the earnings on the cash proceeds of the initial sale. Mortgage dollar rolls may be renewed without physical delivery of the securities subject to the contract. The Fund accounts for TBA dollar roll transactions as purchases and sales which, as a result, may increase its portfolio turnover rate.

Security transactions and income recognition

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

Interest income is accrued daily and bond discounts are accreted and premiums are amortized daily. To the extent debt obligations are placed on non-accrual status, any related interest income may be reduced by writing off interest receivables when the collection of all or a portion of interest has been determined to be doubtful based on consistently applied procedures and the fair value has decreased. If the issuer subsequently resumes interest payments or when the collectability of interest is reasonably assured, the debt obligation is removed from non-accrual status. Paydown gains and losses are included in interest income.

Dividend income is recognized on the ex-dividend date.

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

Income dividends and capital gain distributions from investment companies are recorded on the ex-dividend date. Capital gain distributions from investment companies are treated as realized gains.

Distributions to shareholders

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

Federal and other taxes

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

48 \| Allspring Core Plus Bond Fund

------

Notes to financial statements (unaudited)

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

As of February 28, 2026, the aggregate cost of all investments for federal income tax purposes was $10,911,538,412 and the unrealized gains (losses) consisted of:

---

| | |
|:---|:---|
| Gross unrealized gains | &nbsp;&nbsp; $230391953 |
| Gross unrealized losses | &nbsp;&nbsp; (137317965)<br>|
| **Net unrealized gains** | &nbsp;&nbsp; **$93073988** |

---

As of August 31, 2025, the Fund had capital loss carryforwards which consisted of $205,903,635 in short-term capital losses and $165,568,115 in long-term capital losses.

Class allocations

The separate classes of shares offered by the Fund differ principally in applicable sales charges, distribution, shareholder servicing, and administration fees. Class specific expenses are charged directly to that share class. Investment income, common fund-level expenses, and realized and unrealized gains (losses) on investments are allocated daily to each class of shares based on the relative proportion of net assets of each class.&nbsp;&nbsp;&nbsp;&nbsp;

3. FAIR VALUATION MEASUREMENTS

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

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

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

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

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

Allspring Core Plus Bond Fund \| 49

------

Notes to financial statements (unaudited)

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Agency securities** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $3080845168 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $3080845168 |
| **Asset-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1034623129 | &nbsp;&nbsp;&nbsp; 4537229 | &nbsp;&nbsp;&nbsp; 1039160358 |
| **Common stocks** |  |  |  |  |
| *Financials* | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 |
| *Health care* | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 2328480 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 2328480 |
| **Corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 2396809732 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 2396809732 |
| **Foreign corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 320307918 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 320307918 |
| **Foreign government bonds** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 513791040 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 513791040 |
| **Investment companies** | &nbsp;&nbsp; 72592296 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 72592296 |
| **Loans** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 3415463 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 3415463 |
| **Municipal obligations** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 4120570 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 4120570 |
| **Non-agency mortgage-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 600917852 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 600917852 |
| **U.S. Treasury securities** | &nbsp;&nbsp; 1370379862 | &nbsp;&nbsp;&nbsp; 10798562 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1381178424 |
| **Yankee corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 920968363 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 920968363 |
| **Yankee government bonds** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 165071946 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 165071946 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 238913793 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 238913793 |
| *U.S. Treasury securities* | &nbsp;&nbsp; 268967587 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 268967587 |
|  | &nbsp;&nbsp; 1950853538 | &nbsp;&nbsp;&nbsp; 9053998223 | &nbsp;&nbsp;&nbsp; 4537229 | &nbsp;&nbsp;&nbsp; 11009388990 |
| **Forward foreign currency contracts** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 5309679 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 5309679 |
| **Futures contracts** | &nbsp;&nbsp; 5844412 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 5844412 |
| **Swap contracts** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 806122 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 806122 |
| **Total assets** | &nbsp;&nbsp; **$1956697950** | &nbsp;&nbsp;&nbsp; **$9060114024** | &nbsp;&nbsp;&nbsp; **$4537229** | &nbsp;&nbsp;&nbsp; **$11021349203** |
| **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** |
| **Forward foreign currency contracts** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $14212345 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $14212345 |
| **Futures contracts** | &nbsp;&nbsp; 2524458 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 2524458 |
| **Total liabilities** | &nbsp;&nbsp; **$2524458** | &nbsp;&nbsp;&nbsp; **$14212345** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$16736803** |

---

Futures contracts, forward foreign currency contracts and swap contracts are reported at their cumulative unrealized gains (losses) at measurement date as reported in the tables following the Portfolio of investments. For futures contracts and centrally cleared swap contracts, the current day's variation margin is reported on the Statement of assets and liabilities. All other assets and liabilities are reported at their market value at measurement date.

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

At February 28, 2026, the Fund did not have any transfers into/out of Level 3.

4. TRANSACTIONS WITH AFFILIATES

Management fee

Allspring Funds Management, a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P., is the manager of the Fund and provides advisory and fund-level administrative services under an investment management agreement. Under the investment management agreement, Allspring Funds Management is responsible for, among other services, implementing the investment objectives and strategies of the Fund, supervising the subadviser and providing fund-level administrative services in connection with the Fund's operations. As compensation for its services under the investment management agreement, Allspring Funds

50 \| Allspring Core Plus Bond Fund

------

Notes to financial statements (unaudited)

Management is entitled to receive a management fee, which is generally paid monthly, at the following annual rate based on the Fund's average daily net assets:

---

| | |
|:---|:---|
| Average daily net assets | Management fee |
| First $500 million | 0.450<br> %<br>|
| Next $500 million | 0.425 |
| Next $2 billion | 0.400 |
| Next $2 billion | 0.375 |
| Next $5 billion | 0.340 |
| Over $10 billion | 0.320 |

---

For the six months ended February 28, 2026, the management fee was equivalent to an annual rate of 0.36% of the Fund's average daily net assets.

Allspring Funds Management has retained the services of certain subavisers to provide daily portfolio management to the Fund. The fee for subadvisory services is borne by Allspring Funds Management. Allspring Global Investments, LLC and Allspring Global Investments (UK) Limited, each an affiliate of Allspring Funds Management and a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, serves as subadvisers to the Fund.

Administration fees

Under a class-level administration agreement, Allspring Funds Management provides class-level administrative services to the Fund, which includes paying fees and expenses for services provided by the transfer agent, sub-transfer agents, omnibus account servicers and record-keepers. As compensation for its services under the class-level administration agreement, Allspring Funds Management receives an annual fee which is calculated based on the average daily net assets of each class and generally paid monthly, as follows:

---

| | |
|:---|:---|
|  | Class-level <br>administration fee<br>|
| Class A | 0.15<br> %<br>|
| Class C | 0.15 |
| Class R6 | 0.03 |
| Administrator Class | 0.10 |
| Institutional Class | 0.08 |

---

Waivers and/or expense reimbursements

Allspring Funds Management has contractually committed to waive and/or reimburse management and administration fees to the extent necessary to maintain certain net operating expense ratios for the Fund. When each class of the Fund has exceeded its expense cap, Allspring Funds Management will waive fees and/or reimbursed expenses from fund-level expenses on a proportionate basis and then from class specific expenses. When only certain classes exceed their expense caps, waivers and/or reimbursements are applied against class specific expenses before fund-level expenses. Allspring Funds Management has contractually committed through December 31, 2026 to waive fees and/or reimburse expenses to the extent necessary to cap the Fund's expenses. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. As of February 28, 2026, the contractual caps are as follows:&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | EXPENSE RATIO CAPS |
| Class A | 0.67<br> %<br>|
| Class C | 1.42 |
| Class R6 | 0.30 |
| Administrator Class | 0.60 |
| Institutional Class | 0.35 |

---

Distribution fee

The Trust has adopted a distribution plan for Class C shares pursuant to Rule 12b-1 under the 1940 Act. A distribution fee is charged to Class C shares and paid to Allspring Funds Distributor, LLC ("Allspring Funds Distributor"), the principal underwriter, an affiliate of Allspring Funds Management, at an annual rate up to 0.75% of the average daily net assets of Class C shares. Such fees are generally paid on a monthly basis.

In addition, Allspring Funds Distributor is entitled to receive the front-end sales charge from the purchase of Class A shares and a contingent deferred sales charge on the redemption of certain Class A shares. Allspring Funds Distributor is also entitled to receive the contingent deferred sales charges from redemptions of Class C shares. For the six months ended February 28, 2026, Allspring Funds Distributor received $7,432 from the sale of Class A shares and $2,839 and $1,818 in contingent deferred sales charges from redemptions of Class A and Class C shares, respectively.

Allspring Core Plus Bond Fund \| 51

------

Notes to financial statements (unaudited)

Shareholder servicing fees

The Trust has entered into contracts with one or more shareholder servicing agents, whereby Class A, Class C and Administrator Class are charged a fee at an annual rate up to 0.25% of the average daily net assets of each respective class. These fees are generally paid on a monthly basis. A portion of these total shareholder servicing fees were paid to affiliates of the Fund.

Interfund transactions

The Fund may purchase or sell portfolio investment securities to certain affiliates pursuant to Rule 17a-7 under the 1940 Act and under procedures adopted by the Board of Trustees. The procedures have been designed to ensure that these interfund transactions, which do not incur broker commissions, are effected at current market prices. Pursuant to these procedures, the Fund did not have any interfund transactions during the six months ended February 28, 2026.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments, excluding short-term securities, for the six months ended February 28, 2026 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| Purchases at cost | Purchases at cost | Sales Proceeds | Sales Proceeds |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $4882007814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $2894064923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $4740422740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1933281608 |

---

6. DERIVATIVE TRANSACTIONS

During the six months ended February 28, 2026, the Fund entered into futures contracts to speculate on interest rates and to help manage the duration of the portfolio. The Fund also entered into forward foreign currency contracts for economic hedging purposes and entered into swap contracts to hedge risks and/or enhance total returns.

The volume of the Fund's derivative activity during the six months ended February 28, 2026 was as follows:

---

| | |
|:---|:---|
| **Forward foreign currency contracts** |  |
| Average contract amounts to buy | &nbsp;&nbsp; $73844307 |
| Average contract amounts to sell | &nbsp;&nbsp; 895330014 |
| **Futures contracts** |  |
| Average notional balance on long futures | &nbsp;&nbsp; $2220647143 |
| Average notional balance on short futures | &nbsp;&nbsp; 309638851 |
| **Swap contracts** |  |
| Average notional balance | &nbsp;&nbsp; $45584386 |

---

A summary of the location of derivative instruments on the financial statements by primary risk exposure is outlined in the following tables.

52 \| Allspring Core Plus Bond Fund

------

Notes to financial statements (unaudited)

The fair value of derivative instruments as of February 28, 2026 by primary risk type was as follows for the Fund:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest rate <br>risk<br>| Credit <br>risk<br>| Foreign Currency <br>risk<br>| Total |
| **Asset derivatives** | **Asset derivatives** | **Asset derivatives** | **Asset derivatives** | **Asset derivatives** |
| Forward foreign currency contracts | &nbsp;&nbsp; $0 | $0 | $5309679 | $5309679 |
| Futures contracts | &nbsp;&nbsp; 5,844,412 <br>\*<br>| 0 | 0 | 5844412 |
| Swap contracts | &nbsp;&nbsp; 0 | 806,122 <br>\*<br>| 0 | 806122 |
|  | &nbsp;&nbsp; $5844412 | $806122 | $5309679 | $11960213 |
| **Liability derivatives** | **Liability derivatives** | **Liability derivatives** | **Liability derivatives** | **Liability derivatives** |
| Forward foreign currency contracts | &nbsp;&nbsp; $0 | $0 | $14212345 | $14212345 |
| Futures contracts | &nbsp;&nbsp; 2,524,458 <br>\*<br>| 0 | 0 | 2524458 |
|  | &nbsp;&nbsp; $2524458 | $0 | $14212345 | $16736803 |

---

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

\* Amount represents the cumulative unrealized gains (losses) as reported in the table following the Portfolio of investments. For futures contracts and centrally cleared swap contracts, only the current day's variation margin as of February 28, 2026 is reported separately on the Statement of assets and liabilities. 

The effect of derivative instruments on the Statement of operations for the six months ended February 28, 2026 was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest rate <br>risk<br>| Credit <br>risk<br>| Foreign currency <br>risk<br>| TOTAL |
| **Net realized gains (losses) on derivatives** | **Net realized gains (losses) on derivatives** | **Net realized gains (losses) on derivatives** | **Net realized gains (losses) on derivatives** | **Net realized gains (losses) on derivatives** |
| Forward foreign currency contracts | &nbsp;&nbsp; $0 | $0 | $(16834041)<br>| $(16834041)<br>|
| Futures contracts | &nbsp;&nbsp; 20672994 | 0 | 0 | 20672994 |
| Swap contracts | &nbsp;&nbsp; 0 | 470359 | 0 | 470359 |
|  | &nbsp;&nbsp; $20672994 | $470359 | $(16834041)<br>| $4309312 |
| **Net change in unrealized gains (losses) on derivatives** | **Net change in unrealized gains (losses) on derivatives** | **Net change in unrealized gains (losses) on derivatives** | **Net change in unrealized gains (losses) on derivatives** | **Net change in unrealized gains (losses) on derivatives** |
| Forward foreign currency contracts | &nbsp;&nbsp; $0 | $0 | $326291 | $326291 |
| Futures contracts | &nbsp;&nbsp; (1903941)<br>| 0 | 0 | (1903941)<br>|
| Swap contracts | &nbsp;&nbsp; 0 | 240240 | 0 | 240240 |
|  | &nbsp;&nbsp; $(1903941)<br>| $240240 | $326291 | $(1337410)<br>|

---

For certain types of derivative transactions, the Fund has entered into International Swaps and Derivatives Association, Inc. master agreements ("ISDA Master Agreements") or similar agreements with approved counterparties. The ISDA Master Agreements or similar agreements may have requirements to deliver/deposit securities or cash to/with an exchange or broker-dealer as collateral and allows the Fund to offset, with each counterparty, certain derivative financial instrument's assets and/or liabilities with collateral held or pledged. Collateral requirements differ by type of derivative. Collateral or margin requirements are set by the broker or exchange clearinghouse for exchange traded derivatives while collateral terms are contract specific for over-the-counter traded derivatives. Cash collateral that has been pledged to cover obligations of the Fund under ISDA Master Agreements or similar agreements, if any, are reported separately in the Statement of assets and liabilities. Securities pledged as collateral, if any, are noted in the Portfolio of investments. With respect to balance sheet offsetting, absent an event of default by the counterparty or a termination of the agreement, the reported amounts of financial assets and financial liabilities in the Statement of assets and liabilities are not offset across transactions between the Fund and the applicable counterparty. A reconciliation of the gross amounts on the Statement of assets and liabilities to the net amounts by counterparty, including any collateral exposure, for OTC derivatives is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Counterparty | Gross amounts <br>of assets in the <br>Statement of <br>Assets and <br>Liabilities<br>| Amounts <br>subject to <br>netting <br>agreements<br>| Collateral <br>received<br>| Net amount <br>of assets<br>|
| Bank of New York Mellon Corp. | &nbsp;&nbsp; $1906529 | $(1906529)<br>| $0 | $0 |
| Morgan Stanley, Inc. | &nbsp;&nbsp; 1494228 | (385784)<br>| (1030000)<br>| 78444 |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 1908922 | 0 | (1310000)<br>| 598922 |

---

Allspring Core Plus Bond Fund \| 53

------

Notes to financial statements (unaudited)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| Counterparty | Gross amounts <br>of liabilities in the <br>Statement of <br>Assets and <br>Liabilities<br>| Amounts <br>subject to <br>netting <br>agreements<br>| Collateral <br>pledged<sup>1</sup> <br>| Net amount <br>of liabilities<br>|
| Bank of New York Mellon Corp. | &nbsp;&nbsp; $13826561 | $(1906529)<br>| $(10800000)<br>| $1120032 |
| Morgan Stanley, Inc. | &nbsp;&nbsp; 385784 | (385784)<br>| 0 | 0 |

---

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

<sup>1</sup> Collateral pledged within this table is limited to the collateral for the net transaction with the counterparty.

7. BANK BORROWINGS

The Fund, together with certain other registered Allspring Funds is party to a $275,000,000 revolving credit agreement whereby the Fund is permitted to use bank borrowings for temporary or emergency purposes, such as to fund shareholder redemption requests. Interest under the credit agreement is charged to the Fund based on a borrowing rate equal to the higher of the Federal Funds rate or the overnight bank funding rate in effect on that day plus a spread. In addition, an annual commitment fee based on the unused balance is allocated to each participating fund.

For the six months ended February 28, 2026, there were no borrowings by the Fund under the agreement.

8. INDEMNIFICATION

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

9. OPERATING SEGMENTS

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

10. NEW ACCOUNTING PRONOUNCEMENT

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

54 \| Allspring Core Plus Bond Fund

------

Other information (unaudited)

Other information

Proxy voting information

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

Quarterly portfolio holdings information

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

Allspring Core Plus Bond Fund \| 55

------

Other information (unaudited)

Item 8. Changes in and disagreements with accountants

Not applicable

Item 9. Matters submitted to fund shareholders for a vote

Not applicable

Item 10. Remuneration paid to directors, officers and others

Refer to information in the Statement of operations.

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

Not applicable

56 \| Allspring Core Plus Bond Fund

------

![](g132415img8d4ba8681.jpg)

For more information

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

Allspring Funds

P.O. Box 219967

Kansas City, MO 64121-9967

Website: **allspringglobal.com**

Individual investors: **1-800-222-8222**

Retail investment professionals: **1-888-877-9275**

Institutional investment professionals: **1-800-260-5969**

![](g132415imgf64f3e8d2.gif)

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. If this report is used for promotional purposes, distribution of the report must be accompanied or preceded by a current prospectus. Before investing, please consider the investment objectives, risks, charges, and expenses of the investment. For a current prospectus and, if available, a summary prospectus, containing this information, call* ***1-800-222-8222*** *or visit the Fund's website at* ***allspringglobal.com****. Read the prospectus carefully before you invest or send money.*

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

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

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

**NCSRS0059 02-26**

------

![](g132415img6e97004c1.jpg)

Allspring Government Securities Fund

Long Form Financial Statements

Semi-Annual Report

February 28, 2026

------

Contents

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

---

| | |
|:---|:---|
| **[Portfolio of investments](#xx_5f8d5cb4-05b0-4122-8618-ad8789f0f2f9_POI-PageBlank-96_1)** | 2 |
| **[Item 7. Financial statements and financial highlights](#xx_5f8d5cb4-05b0-4122-8618-ad8789f0f2f9_FS-PageBlank-96_1)** |  |
| [Statement of assets and liabilities](#xx_5f8d5cb4-05b0-4122-8618-ad8789f0f2f9_FS-PageBlank-96_1) | 10 |
| [Statement of operations](#xx_5f8d5cb4-05b0-4122-8618-ad8789f0f2f9_FS-PageBlank-96_2) | 11 |
| [Statement of changes in net assets](#xx_5f8d5cb4-05b0-4122-8618-ad8789f0f2f9_FS-PageBlank-96_3) | 12 |
| [Financial highlights](#xx_5f8d5cb4-05b0-4122-8618-ad8789f0f2f9_FIHI-PageBlank-96_1) | 14 |
| **[Notes to financial statements](#xx_5f8d5cb4-05b0-4122-8618-ad8789f0f2f9_NTF-PageBlank-96_1)** | 16 |
| **[Other information](#xx_5f8d5cb4-05b0-4122-8618-ad8789f0f2f9_OI-PageBlank-96_1)** | 21 |
| [Item 8. Changes in and disagreements with accountants](#xx_5f8d5cb4-05b0-4122-8618-ad8789f0f2f9_OI-PageBlank-96_2) | 22 |
| [Item 9. Matters submitted to fund shareholders for a vote](#xx_5f8d5cb4-05b0-4122-8618-ad8789f0f2f9_OI-PageBlank-96_2) | 22 |
| [Item 10. Remuneration paid to directors, officers and others](#xx_5f8d5cb4-05b0-4122-8618-ad8789f0f2f9_OI-PageBlank-96_2) | 22 |
| [Item 11. Statement regarding basis for board](#xx_5f8d5cb4-05b0-4122-8618-ad8789f0f2f9_OI-PageBlank-96_2)['](#xx_5f8d5cb4-05b0-4122-8618-ad8789f0f2f9_OI-PageBlank-96_2)[s approval of investment](#xx_5f8d5cb4-05b0-4122-8618-ad8789f0f2f9_OI-PageBlank-96_2)<br> [advisory contract](#xx_5f8d5cb4-05b0-4122-8618-ad8789f0f2f9_OI-PageBlank-96_2)<br>| 22 |

---

Allspring Government Securities Fund \| 1

------

Portfolio of investments—February 28, 2026 (unaudited)

Portfolio of investments

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest <br>rate<br>| Maturity <br>date<br>| Principal | Value |
| **Agency securities: 65.94%** |  |  |  |  |
| FHLMC | 2.50<br> %<br>| &nbsp;&nbsp; 9-1-2050 | $989897 | &nbsp;&nbsp; $859735 |
| FHLMC | 2.50 | &nbsp;&nbsp; 6-1-2051 | 2216420 | &nbsp;&nbsp; 1924972 |
| FHLMC | 2.50 | &nbsp;&nbsp; 11-1-2051 | 7382824 | &nbsp;&nbsp; 6525544 |
| FHLMC | 2.50 | &nbsp;&nbsp; 12-1-2051 | 1745596 | &nbsp;&nbsp; 1522766 |
| FHLMC | 3.00 | &nbsp;&nbsp; 6-1-2050 | 346601 | &nbsp;&nbsp; 319498 |
| FHLMC | 3.00 | &nbsp;&nbsp; 7-1-2050 | 1086649 | &nbsp;&nbsp; 1001705 |
| FHLMC | 3.00 | &nbsp;&nbsp; 8-1-2050 | 501874 | &nbsp;&nbsp; 462629 |
| FHLMC | 3.50 | &nbsp;&nbsp; 8-1-2045 | 958663 | &nbsp;&nbsp; 925794 |
| FHLMC | 3.50 | &nbsp;&nbsp; 11-1-2045 | 1702848 | &nbsp;&nbsp; 1643145 |
| FHLMC | 3.50 | &nbsp;&nbsp; 12-1-2045 | 1545135 | &nbsp;&nbsp; 1489990 |
| FHLMC | 4.00 | &nbsp;&nbsp; 6-1-2037 | 2989074 | &nbsp;&nbsp; 2964829 |
| FHLMC | 4.00 | &nbsp;&nbsp; 11-1-2042 | 3916039 | &nbsp;&nbsp; 3928487 |
| FHLMC | 4.00 | &nbsp;&nbsp; 6-1-2044 | 880297 | &nbsp;&nbsp; 871988 |
| FHLMC | 4.00 | &nbsp;&nbsp; 5-1-2049 | 539238 | &nbsp;&nbsp; 531616 |
| FHLMC | 4.00 | &nbsp;&nbsp; 9-1-2049 | 200285 | &nbsp;&nbsp; 197258 |
| FHLMC | 4.50 | &nbsp;&nbsp; 3-1-2042 | 77772 | &nbsp;&nbsp; 78866 |
| FHLMC | 4.50 | &nbsp;&nbsp; 9-1-2044 | 1050003 | &nbsp;&nbsp; 1062199 |
| FHLMC | 4.50 | &nbsp;&nbsp; 9-1-2049 | 2406417 | &nbsp;&nbsp; 2409388 |
| FHLMC | 5.00 | &nbsp;&nbsp; 6-1-2026 | 438 | &nbsp;&nbsp; 445 |
| FHLMC | 5.00 | &nbsp;&nbsp; 8-1-2040 | 276342 | &nbsp;&nbsp; 284888 |
| FHLMC | 5.00 | &nbsp;&nbsp; 7-1-2052 | 1804728 | &nbsp;&nbsp; 1838189 |
| FHLMC | 5.00 | &nbsp;&nbsp; 9-1-2052 | 2015937 | &nbsp;&nbsp; 2035672 |
| FHLMC | 5.50 | &nbsp;&nbsp; 7-1-2035 | 761027 | &nbsp;&nbsp; 777748 |
| FHLMC | 5.50 | &nbsp;&nbsp; 12-1-2038 | 487538 | &nbsp;&nbsp; 507899 |
| FHLMC | 5.50 | &nbsp;&nbsp; 3-1-2053 | 1136968 | &nbsp;&nbsp; 1161321 |
| FHLMC | 6.00 | &nbsp;&nbsp; 10-1-2032 | 6122 | &nbsp;&nbsp; 6372 |
| FHLMC | 6.00 | &nbsp;&nbsp; 1-1-2053 | 1947420 | &nbsp;&nbsp; 2014759 |
| FHLMC | 6.50 | &nbsp;&nbsp; 9-1-2028 | 1774 | &nbsp;&nbsp; 1841 |
| FHLMC | 6.50 | &nbsp;&nbsp; 7-1-2055 | 2026515 | &nbsp;&nbsp; 2104349 |
| FHLMC | 6.50 | &nbsp;&nbsp; 9-1-2055 | 728837 | &nbsp;&nbsp; 756905 |
| FHLMC | 7.00 | &nbsp;&nbsp; 4-1-2029 | 214 | &nbsp;&nbsp; 225 |
| FHLMC | 7.00 | &nbsp;&nbsp; 5-1-2029 | 1163 | &nbsp;&nbsp; 1220 |
| FHLMC | 7.00 | &nbsp;&nbsp; 4-1-2032 | 21972 | &nbsp;&nbsp; 23043 |
| FHLMC | 7.50 | &nbsp;&nbsp; 11-1-2031 | 33595 | &nbsp;&nbsp; 34060 |
| FHLMC | 7.50 | &nbsp;&nbsp; 4-1-2032 | 46636 | &nbsp;&nbsp; 48398 |
| FHLMC | 8.00 | &nbsp;&nbsp; 8-1-2026 | 254 | &nbsp;&nbsp; 255 |
| FHLMC | 8.00 | &nbsp;&nbsp; 11-1-2026 | 288 | &nbsp;&nbsp; 289 |
| FHLMC | 8.00 | &nbsp;&nbsp; 11-1-2028 | 56 | &nbsp;&nbsp; 56 |
| &nbsp;&nbsp; FHLMC Multifamily Structured Pass-Through Certificates Series K075 <br> Class A2±±<br>| 3.65 | &nbsp;&nbsp; 2-25-2028 | 4420000 | &nbsp;&nbsp; 4412259 |
| &nbsp;&nbsp; FHLMC Multifamily Structured Pass-Through Certificates Series K153 <br> Class A3±±<br>| 3.12 | &nbsp;&nbsp; 10-25-2031 | 160000 | &nbsp;&nbsp; 153806 |
| &nbsp;&nbsp; FHLMC Multifamily Structured Pass-Through Certificates Series KF80 <br> Class AS (30 Day Average U.S. SOFR+0.51%)±<br>| 4.19 | &nbsp;&nbsp; 6-25-2030 | 430216 | &nbsp;&nbsp; 429411 |
| &nbsp;&nbsp; FHLMC Multifamily Structured Pass-Through Certificates Series KIR2 <br> Class A1<br>| 2.75 | &nbsp;&nbsp; 3-25-2027 | 924208 | &nbsp;&nbsp; 916766 |
| &nbsp;&nbsp; FHLMC Multifamily Structured Pass-Through Certificates <br> Series KW03 Class A1<br>| 2.62 | &nbsp;&nbsp; 12-25-2026 | 171527 | &nbsp;&nbsp; 170544 |

---

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

2 \| Allspring Government Securities Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-35 Class A (30 <br> Day Average U.S. SOFR+0.39%)±<br>| 4.06<br> %<br>| &nbsp;&nbsp; 9-25-2031 | $112688 | &nbsp;&nbsp; $112916 |
| FHLMC Structured Pass-Through Certificates Series T-42 Class A6 | 9.50 | &nbsp;&nbsp; 2-25-2042 | 385143 | &nbsp;&nbsp; 463349 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-55 <br> Class 2A1±±<br>| 3.51 | &nbsp;&nbsp; 3-25-2043 | 112861 | &nbsp;&nbsp; 107978 |
| FHLMC Structured Pass-Through Certificates Series T-56 Class A4 | 6.00 | &nbsp;&nbsp; 5-25-2043 | 2300610 | &nbsp;&nbsp; 2289753 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-57 <br> Class 2A1±±<br>| 4.88 | &nbsp;&nbsp; 7-25-2043 | 943507 | &nbsp;&nbsp; 930240 |
| FHLMC Structured Pass-Through Certificates Series T-57 Class 1A1 | 6.50 | &nbsp;&nbsp; 7-25-2043 | 487592 | &nbsp;&nbsp; 513348 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-62 Class 1A1 <br> (12 Month Treasury Average+1.20%)±<br>| 5.12 | &nbsp;&nbsp; 10-25-2044 | 319761 | &nbsp;&nbsp; 296365 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-67 <br> Class 1A1C±±<br>| 3.84 | &nbsp;&nbsp; 3-25-2036 | 356859 | &nbsp;&nbsp; 347772 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-67 <br> Class 2A1C±±<br>| 3.84 | &nbsp;&nbsp; 3-25-2036 | 565918 | &nbsp;&nbsp; 538819 |
| FHLMC Whole Loan Securities Trust Series 2015-SC01 Class 1A | 3.50 | &nbsp;&nbsp; 5-25-2045 | 232533 | &nbsp;&nbsp; 213500 |
| FHLMC (11th District COFI+1.25%)± | 4.43 | &nbsp;&nbsp; 7-1-2032 | 73362 | &nbsp;&nbsp; 71992 |
| FHLMC (30 Day Average U.S. SOFR+0.26%)± | 3.93 | &nbsp;&nbsp; 7-1-2031 | 2998495 | &nbsp;&nbsp; 2964792 |
| FHLMC (RFUCCT1Y+1.64%)± | 6.31 | &nbsp;&nbsp; 7-1-2038 | 308357 | &nbsp;&nbsp; 317851 |
| FHLMC (RFUCCT1Y+1.66%)± | 6.36 | &nbsp;&nbsp; 6-1-2043 | 462472 | &nbsp;&nbsp; 482643 |
| FHLMC (RFUCCT1Y+1.91%)± | 6.66 | &nbsp;&nbsp; 9-1-2031 | 20644 | &nbsp;&nbsp; 21081 |
| FHLMC Series 2733 Class FB (30 Day Average U.S. SOFR+0.71%)± | 4.37 | &nbsp;&nbsp; 10-15-2033 | 100837 | &nbsp;&nbsp; 101103 |
| FHLMC Series 3070 Class FT (30 Day Average U.S. SOFR+0.46%)± | 4.12 | &nbsp;&nbsp; 11-15-2035 | 152285 | &nbsp;&nbsp; 151847 |
| FHLMC Series 3830 Class FD (30 Day Average U.S. SOFR+0.47%)± | 4.13 | &nbsp;&nbsp; 3-15-2041 | 68183 | &nbsp;&nbsp; 67904 |
| FHLMC Series 4057 Class FN (30 Day Average U.S. SOFR+0.46%)± | 4.12 | &nbsp;&nbsp; 12-15-2041 | 71479 | &nbsp;&nbsp; 71164 |
| FHLMC Series 4159 Class AF (30 Day Average U.S. SOFR+1.29%)± | 4.95 | &nbsp;&nbsp; 12-15-2036 | 73782 | &nbsp;&nbsp; 75385 |
| FHLMC Series 4218 Class DF (30 Day Average U.S. SOFR+0.36%)± | 4.02 | &nbsp;&nbsp; 7-15-2042 | 124904 | &nbsp;&nbsp; 123879 |
| FHLMC Series 4409 Class MA | 3.00 | &nbsp;&nbsp; 1-15-2054 | 2430 | &nbsp;&nbsp; 2416 |
| FHLMC Series 4620 Class AF (30 Day Average U.S. SOFR+0.55%)± | 4.35 | &nbsp;&nbsp; 11-15-2042 | 924011 | &nbsp;&nbsp; 919080 |
| FHLMC Series 5198 Class FB (30 Day Average U.S. SOFR+0.25%)± | 4.05 | &nbsp;&nbsp; 6-15-2049 | 845118 | &nbsp;&nbsp; 822921 |
| FHLMC Series 5400 Class EA | 5.50 | &nbsp;&nbsp; 2-25-2050 | 2524945 | &nbsp;&nbsp; 2535511 |
| FNMA | 1.38 | &nbsp;&nbsp; 7-1-2030 | 3665196 | &nbsp;&nbsp; 3342908 |
| FNMA | 1.65 | &nbsp;&nbsp; 6-1-2030 | 1292509 | &nbsp;&nbsp; 1192695 |
| FNMA | 1.65 | &nbsp;&nbsp; 7-1-2030 | 2282600 | &nbsp;&nbsp; 2095679 |
| FNMA | 1.66 | &nbsp;&nbsp; 7-1-2032 | 3766665 | &nbsp;&nbsp; 3302567 |
| FNMA | 1.97 | &nbsp;&nbsp; 5-1-2030 | 4077720 | &nbsp;&nbsp; 3816355 |
| FNMA | 2.00 | &nbsp;&nbsp; 2-1-2052 | 21295062 | &nbsp;&nbsp; 17784655 |
| FNMA | 2.35 | &nbsp;&nbsp; 2-1-2032 | 2128404 | &nbsp;&nbsp; 1964331 |
| FNMA | 2.50 | &nbsp;&nbsp; 9-1-2050 | 301348 | &nbsp;&nbsp; 263900 |
| FNMA | 2.50 | &nbsp;&nbsp; 12-1-2050 | 1064758 | &nbsp;&nbsp; 924393 |
| FNMA | 2.50 | &nbsp;&nbsp; 7-1-2051 | 1560909 | &nbsp;&nbsp; 1353722 |
| FNMA | 2.50 | &nbsp;&nbsp; 1-1-2052 | 2496685 | &nbsp;&nbsp; 2172146 |
| FNMA | 2.51 | &nbsp;&nbsp; 9-1-2031 | 4768888 | &nbsp;&nbsp; 4470200 |
| FNMA | 2.65 | &nbsp;&nbsp; 2-1-2032 | 4767544 | &nbsp;&nbsp; 4451666 |
| FNMA | 2.75 | &nbsp;&nbsp; 9-1-2031 | 844905 | &nbsp;&nbsp; 798866 |
| FNMA | 2.86 | &nbsp;&nbsp; 7-1-2029 | 923453 | &nbsp;&nbsp; 899153 |
| FNMA | 3.00 | &nbsp;&nbsp; 5-1-2027 | 34930 | &nbsp;&nbsp; 34691 |
| FNMA | 3.00 | &nbsp;&nbsp; 6-1-2034 | 1254398 | &nbsp;&nbsp; 1228028 |

---

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

Allspring Government Securities Fund \| 3

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| FNMA | 3.00<br> %<br>| &nbsp;&nbsp; 4-1-2045 | $24215 | &nbsp;&nbsp; $22644 |
| FNMA | 3.00 | &nbsp;&nbsp; 11-1-2045 | 2077477 | &nbsp;&nbsp; 1934546 |
| FNMA | 3.00 | &nbsp;&nbsp; 12-1-2045 | 4790741 | &nbsp;&nbsp; 4464612 |
| FNMA | 3.00 | &nbsp;&nbsp; 12-1-2046 | 191133 | &nbsp;&nbsp; 176585 |
| FNMA | 3.00 | &nbsp;&nbsp; 8-1-2050 | 25056 | &nbsp;&nbsp; 22871 |
| FNMA | 3.48 | &nbsp;&nbsp; 3-1-2029 | 822479 | &nbsp;&nbsp; 818800 |
| FNMA | 3.50 | &nbsp;&nbsp; 4-1-2034 | 529418 | &nbsp;&nbsp; 526003 |
| FNMA | 3.50 | &nbsp;&nbsp; 2-1-2043 | 12624 | &nbsp;&nbsp; 12245 |
| FNMA | 3.50 | &nbsp;&nbsp; 2-1-2045 | 260085 | &nbsp;&nbsp; 251348 |
| FNMA | 3.50 | &nbsp;&nbsp; 4-1-2045 | 1222149 | &nbsp;&nbsp; 1178941 |
| FNMA | 3.50 | &nbsp;&nbsp; 8-1-2045 | 105687 | &nbsp;&nbsp; 101950 |
| FNMA | 3.50 | &nbsp;&nbsp; 12-1-2045 | 456992 | &nbsp;&nbsp; 440834 |
| FNMA | 3.50 | &nbsp;&nbsp; 2-1-2046 | 421248 | &nbsp;&nbsp; 405920 |
| FNMA | 3.86 | &nbsp;&nbsp; 3-1-2029 | 747842 | &nbsp;&nbsp; 752368 |
| FNMA | 4.00 | &nbsp;&nbsp; 8-1-2037 | 1286413 | &nbsp;&nbsp; 1277497 |
| FNMA | 4.00 | &nbsp;&nbsp; 4-1-2046 | 3504455 | &nbsp;&nbsp; 3466330 |
| FNMA | 4.00 | &nbsp;&nbsp; 3-1-2047 | 797047 | &nbsp;&nbsp; 788047 |
| FNMA | 4.00 | &nbsp;&nbsp; 9-1-2048 | 58788 | &nbsp;&nbsp; 57967 |
| FNMA | 4.38 | &nbsp;&nbsp; 7-1-2032 | 1031000 | &nbsp;&nbsp; 1056648 |
| FNMA | 4.50 | &nbsp;&nbsp; 10-1-2046 | 73808 | &nbsp;&nbsp; 74536 |
| FNMA | 4.50 | &nbsp;&nbsp; 9-1-2049 | 541812 | &nbsp;&nbsp; 542698 |
| FNMA | 4.94 | &nbsp;&nbsp; 10-1-2032 | 1563667 | &nbsp;&nbsp; 1632418 |
| FNMA | 4.99 | &nbsp;&nbsp; 7-1-2029 | 2770000 | &nbsp;&nbsp; 2873231 |
| FNMA | 5.00 | &nbsp;&nbsp; 3-1-2034 | 105303 | &nbsp;&nbsp; 106925 |
| FNMA | 5.00 | &nbsp;&nbsp; 8-1-2040 | 1755289 | &nbsp;&nbsp; 1796461 |
| FNMA | 5.00 | &nbsp;&nbsp; 10-1-2040 | 125116 | &nbsp;&nbsp; 128843 |
| FNMA | 5.00 | &nbsp;&nbsp; 1-1-2042 | 127189 | &nbsp;&nbsp; 130977 |
| FNMA | 5.00 | &nbsp;&nbsp; 12-1-2048 | 130037 | &nbsp;&nbsp; 132133 |
| FNMA | 5.05 | &nbsp;&nbsp; 11-1-2030 | 1578407 | &nbsp;&nbsp; 1648533 |
| FNMA | 5.16 | &nbsp;&nbsp; 10-1-2031 | 2760000 | &nbsp;&nbsp; 2922113 |
| FNMA | 5.50 | &nbsp;&nbsp; 9-1-2033 | 605879 | &nbsp;&nbsp; 624061 |
| FNMA | 5.50 | &nbsp;&nbsp; 8-1-2035 | 201837 | &nbsp;&nbsp; 210887 |
| FNMA | 5.50 | &nbsp;&nbsp; 1-1-2037 | 145450 | &nbsp;&nbsp; 151971 |
| FNMA | 5.50 | &nbsp;&nbsp; 4-1-2040 | 381448 | &nbsp;&nbsp; 398545 |
| FNMA | 5.50 | &nbsp;&nbsp; 2-1-2053 | 4183045 | &nbsp;&nbsp; 4271483 |
| FNMA | 6.00 | &nbsp;&nbsp; 1-1-2028 | 56699 | &nbsp;&nbsp; 58104 |
| FNMA | 6.00 | &nbsp;&nbsp; 2-1-2035 | 191359 | &nbsp;&nbsp; 195542 |
| FNMA | 6.00 | &nbsp;&nbsp; 11-1-2037 | 113781 | &nbsp;&nbsp; 119915 |
| FNMA | 6.00 | &nbsp;&nbsp; 7-1-2038 | 43104 | &nbsp;&nbsp; 45632 |
| FNMA | 6.00 | &nbsp;&nbsp; 7-1-2055 | 9297484 | &nbsp;&nbsp; 9616246 |
| FNMA | 6.50 | &nbsp;&nbsp; 3-1-2028 | 1837 | &nbsp;&nbsp; 1869 |
| FNMA | 6.50 | &nbsp;&nbsp; 12-1-2029 | 22707 | &nbsp;&nbsp; 23544 |
| FNMA | 6.50 | &nbsp;&nbsp; 11-1-2031 | 3889 | &nbsp;&nbsp; 4032 |
| FNMA | 6.50 | &nbsp;&nbsp; 7-1-2036 | 113393 | &nbsp;&nbsp; 119865 |
| FNMA | 6.50 | &nbsp;&nbsp; 11-1-2054 | 2326289 | &nbsp;&nbsp; 2415843 |
| FNMA | 6.50 | &nbsp;&nbsp; 9-1-2055 | 746808 | &nbsp;&nbsp; 775336 |
| FNMA | 7.00 | &nbsp;&nbsp; 1-1-2032 | 830 | &nbsp;&nbsp; 870 |
| FNMA | 7.00 | &nbsp;&nbsp; 2-1-2032 | 14915 | &nbsp;&nbsp; 15627 |

---

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

4 \| Allspring Government Securities Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| FNMA | 7.00<br> %<br>| &nbsp;&nbsp; 10-1-2032 | $41400 | &nbsp;&nbsp; $43377 |
| FNMA | 7.00 | &nbsp;&nbsp; 2-1-2034 | 961 | &nbsp;&nbsp; 1007 |
| FNMA | 7.00 | &nbsp;&nbsp; 4-1-2034 | 18398 | &nbsp;&nbsp; 19276 |
| FNMA | 7.50 | &nbsp;&nbsp; 9-1-2031 | 16236 | &nbsp;&nbsp; 16811 |
| FNMA | 7.50 | &nbsp;&nbsp; 2-1-2032 | 8450 | &nbsp;&nbsp; 8741 |
| FNMA | 7.50 | &nbsp;&nbsp; 10-1-2037 | 196997 | &nbsp;&nbsp; 209352 |
| FNMA | 8.00 | &nbsp;&nbsp; 2-1-2030 | 5880 | &nbsp;&nbsp; 5999 |
| FNMA | 8.00 | &nbsp;&nbsp; 7-1-2031 | 26233 | &nbsp;&nbsp; 26529 |
| FNMA | 8.50 | &nbsp;&nbsp; 11-1-2026 | 208 | &nbsp;&nbsp; 208 |
| FNMA | 8.50 | &nbsp;&nbsp; 12-1-2026 | 4480 | &nbsp;&nbsp; 4504 |
| FNMA (1 Year Treasury Constant Maturity+2.19%)± | 6.13 | &nbsp;&nbsp; 12-1-2040 | 28785 | &nbsp;&nbsp; 29908 |
| FNMA (1 Year Treasury Constant Maturity+2.20%)± | 5.94 | &nbsp;&nbsp; 12-1-2034 | 111089 | &nbsp;&nbsp; 113941 |
| FNMA (1 Year Treasury Constant Maturity+2.22%)± | 6.09 | &nbsp;&nbsp; 11-1-2031 | 30498 | &nbsp;&nbsp; 31156 |
| FNMA (1 Year Treasury Constant Maturity+2.22%)± | 6.22 | &nbsp;&nbsp; 6-1-2032 | 28492 | &nbsp;&nbsp; 29126 |
| FNMA (1 Year Treasury Constant Maturity+2.22%)± | 6.33 | &nbsp;&nbsp; 9-1-2035 | 63761 | &nbsp;&nbsp; 65740 |
| FNMA (1 Year Treasury Constant Maturity+2.24%)± | 6.28 | &nbsp;&nbsp; 9-1-2031 | 10251 | &nbsp;&nbsp; 10466 |
| FNMA (1 Year Treasury Constant Maturity+2.24%)± | 6.42 | &nbsp;&nbsp; 12-1-2040 | 8511 | &nbsp;&nbsp; 8667 |
| FNMA (11th District COFI+1.25%)± | 4.27 | &nbsp;&nbsp; 9-1-2027 | 11588 | &nbsp;&nbsp; 11495 |
| FNMA (11th District COFI+1.26%)± | 4.40 | &nbsp;&nbsp; 5-1-2036 | 66658 | &nbsp;&nbsp; 65430 |
| FNMA (11th District COFI+1.27%)± | 4.18 | &nbsp;&nbsp; 5-1-2036 | 114585 | &nbsp;&nbsp; 112328 |
| FNMA (RFUCCT1Y+1.61%)± | 6.61 | &nbsp;&nbsp; 5-1-2046 | 503409 | &nbsp;&nbsp; 522928 |
| FNMA (RFUCCT1Y+1.62%)± | 2.37 | &nbsp;&nbsp; 8-1-2050 | 1104375 | &nbsp;&nbsp; 1050292 |
| FNMA (RFUCCT1Y+1.73%)± | 6.48 | &nbsp;&nbsp; 9-1-2036 | 76397 | &nbsp;&nbsp; 78873 |
| FNMA (RFUCCT1Y+1.77%)± | 6.42 | &nbsp;&nbsp; 7-1-2044 | 42747 | &nbsp;&nbsp; 44255 |
| FNMA (RFUCCT1Y+1.81%)± | 6.52 | &nbsp;&nbsp; 8-1-2036 | 317868 | &nbsp;&nbsp; 329957 |
| FNMA Series 2000-T6 Class A2 | 9.50 | &nbsp;&nbsp; 11-25-2040 | 250571 | &nbsp;&nbsp; 249881 |
| FNMA Series 2001-T10 Class A3 | 9.50 | &nbsp;&nbsp; 12-25-2041 | 246071 | &nbsp;&nbsp; 266963 |
| FNMA Series 2001-T12 Class A3 | 9.50 | &nbsp;&nbsp; 8-25-2041 | 64619 | &nbsp;&nbsp; 66595 |
| FNMA Series 2002-5 Class F (30 Day Average U.S. SOFR+0.46%)± | 4.13 | &nbsp;&nbsp; 2-25-2032 | 423 | &nbsp;&nbsp; 422 |
| FNMA Series 2002-T1 Class A3 | 7.50 | &nbsp;&nbsp; 11-25-2031 | 85627 | &nbsp;&nbsp; 90682 |
| FNMA Series 2002-T12 Class A5±± | 5.35 | &nbsp;&nbsp; 10-25-2041 | 348382 | &nbsp;&nbsp; 357661 |
| FNMA Series 2002-T16 Class A1 | 6.50 | &nbsp;&nbsp; 7-25-2042 | 657196 | &nbsp;&nbsp; 693875 |
| FNMA Series 2002-T19 Class A1 | 6.50 | &nbsp;&nbsp; 7-25-2042 | 1582132 | &nbsp;&nbsp; 1674996 |
| FNMA Series 2002-W4 Class A4 | 6.25 | &nbsp;&nbsp; 5-25-2042 | 211231 | &nbsp;&nbsp; 216283 |
| FNMA Series 2003-T2 Class A1 (30 Day Average U.S. SOFR+0.39%)± | 4.09 | &nbsp;&nbsp; 3-25-2033 | 418841 | &nbsp;&nbsp; 415542 |
| FNMA Series 2003-W1 Class 1A1±± | 4.68 | &nbsp;&nbsp; 12-25-2042 | 275894 | &nbsp;&nbsp; 278733 |
| FNMA Series 2003-W11 Class A1±± | 7.27 | &nbsp;&nbsp; 6-25-2033 | 21406 | &nbsp;&nbsp; 21683 |
| FNMA Series 2003-W3 Class 1A4±± | 4.87 | &nbsp;&nbsp; 8-25-2042 | 816141 | &nbsp;&nbsp; 797135 |
| FNMA Series 2003-W5 Class A (U.S. SOFR 1 Month+0.11%)± | 3.89 | &nbsp;&nbsp; 4-25-2033 | 124002 | &nbsp;&nbsp; 122327 |
| FNMA Series 2003-W6 Class 6A±± | 4.84 | &nbsp;&nbsp; 8-25-2042 | 272022 | &nbsp;&nbsp; 274419 |
| FNMA Series 2003-W6 Class PT4±± | 8.08 | &nbsp;&nbsp; 10-25-2042 | 478940 | &nbsp;&nbsp; 521688 |
| FNMA Series 2003-W8 Class PT1±± | 7.30 | &nbsp;&nbsp; 12-25-2042 | 160989 | &nbsp;&nbsp; 163477 |
| FNMA Series 2003-W9 Class A (30 Day Average U.S. SOFR+0.23%)± | 3.90 | &nbsp;&nbsp; 6-25-2033 | 31634 | &nbsp;&nbsp; 30362 |
| FNMA Series 2004-T1 Class 1A2 | 6.50 | &nbsp;&nbsp; 1-25-2044 | 142615 | &nbsp;&nbsp; 147632 |
| FNMA Series 2004-W1 Class 2A2 | 7.00 | &nbsp;&nbsp; 12-25-2033 | 366513 | &nbsp;&nbsp; 386590 |
| FNMA Series 2004-W15 Class 1A3 | 7.00 | &nbsp;&nbsp; 8-25-2044 | 130053 | &nbsp;&nbsp; 136654 |
| FNMA Series 2006-50 Class BF (30 Day Average U.S. SOFR+0.51%)± | 4.18 | &nbsp;&nbsp; 6-25-2036 | 249671 | &nbsp;&nbsp; 248849 |

---

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

Allspring Government Securities Fund \| 5

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| &nbsp;&nbsp; FNMA Series 2007-101 Class A2 (30 Day Average <br> U.S. SOFR+0.36%)±<br>| 4.58<br> %<br>| &nbsp;&nbsp; 6-27-2036 | $33656 | &nbsp;&nbsp; $33983 |
| FNMA Series 2007-W10 Class 2A±± | 6.12 | &nbsp;&nbsp; 8-25-2047 | 68448 | &nbsp;&nbsp; 71046 |
| FNMA Series 2008-17 Class DP | 4.75 | &nbsp;&nbsp; 2-25-2038 | 105938 | &nbsp;&nbsp; 105177 |
| &nbsp;&nbsp; FNMA Series 2010-136 Class FA (30 Day Average <br> U.S. SOFR+0.61%)±<br>| 4.28 | &nbsp;&nbsp; 12-25-2040 | 357039 | &nbsp;&nbsp; 355684 |
| &nbsp;&nbsp; FNMA Series 2011-110 Class FE (30 Day Average <br> U.S. SOFR+0.51%)±<br>| 4.18 | &nbsp;&nbsp; 4-25-2041 | 15101 | &nbsp;&nbsp; 15086 |
| &nbsp;&nbsp; FNMA Series 2011-128 Class FK (30 Day Average <br> U.S. SOFR+0.46%)±<br>| 4.13 | &nbsp;&nbsp; 7-25-2041 | 36007 | &nbsp;&nbsp; 35937 |
| FNMA Series 2013-114 Class LM | 4.00 | &nbsp;&nbsp; 3-25-2042 | 526464 | &nbsp;&nbsp; 523581 |
| FNMA Series 2014-17 Class FE (30 Day Average U.S. SOFR+0.66%)± | 4.33 | &nbsp;&nbsp; 4-25-2044 | 767641 | &nbsp;&nbsp; 764718 |
| FNMA Series 2014-20 Class TM±± | 4.50 | &nbsp;&nbsp; 4-25-2044 | 212746 | &nbsp;&nbsp; 33609 |
| FNMA Series 2017-M2 Class A2±± | 2.86 | &nbsp;&nbsp; 2-25-2027 | 4365310 | &nbsp;&nbsp; 4327201 |
| FNMA Series 2018-M1 Class A2±± | 2.98 | &nbsp;&nbsp; 12-25-2027 | 521206 | &nbsp;&nbsp; 514945 |
| FNMA Series 2018-M13 Class A2±± | 3.75 | &nbsp;&nbsp; 9-25-2030 | 318229 | &nbsp;&nbsp; 318337 |
| FNMA Series 2019-M5 Class A2 | 3.27 | &nbsp;&nbsp; 2-25-2029 | 4589523 | &nbsp;&nbsp; 4538260 |
| GNMA | 2.00 | &nbsp;&nbsp; 3-20-2052 | 2976338 | &nbsp;&nbsp; 2521901 |
| GNMA | 2.50 | &nbsp;&nbsp; 9-20-2051 | 1241981 | &nbsp;&nbsp; 1096705 |
| GNMA | 2.50 | &nbsp;&nbsp; 3-20-2052 | 3725070 | &nbsp;&nbsp; 3289328 |
| GNMA | 2.50 | &nbsp;&nbsp; 4-20-2052 | 2503185 | &nbsp;&nbsp; 2210372 |
| GNMA | 3.00 | &nbsp;&nbsp; 11-20-2045 | 2214492 | &nbsp;&nbsp; 2063243 |
| GNMA | 3.00 | &nbsp;&nbsp; 4-20-2051 | 1685926 | &nbsp;&nbsp; 1549003 |
| GNMA | 3.50 | &nbsp;&nbsp; 12-20-2047 | 1968555 | &nbsp;&nbsp; 1887784 |
| GNMA | 3.50 | &nbsp;&nbsp; 7-20-2051 | 1655483 | &nbsp;&nbsp; 1571260 |
| GNMA | 4.00 | &nbsp;&nbsp; 12-20-2047 | 1328894 | &nbsp;&nbsp; 1302689 |
| GNMA | 4.25 | &nbsp;&nbsp; 6-20-2036 | 142196 | &nbsp;&nbsp; 140528 |
| GNMA | 4.50 | &nbsp;&nbsp; 8-20-2049 | 288527 | &nbsp;&nbsp; 288610 |
| GNMA | 4.50 | &nbsp;&nbsp; 9-20-2052 | 859701 | &nbsp;&nbsp; 856369 |
| GNMA | 4.50 | &nbsp;&nbsp; 3-20-2053 | 1146177 | &nbsp;&nbsp; 1140263 |
| GNMA | 5.00 | &nbsp;&nbsp; 7-20-2040 | 289298 | &nbsp;&nbsp; 298900 |
| GNMA | 5.00 | &nbsp;&nbsp; 9-20-2052 | 1540192 | &nbsp;&nbsp; 1554067 |
| GNMA | 5.00 | &nbsp;&nbsp; 6-20-2053 | 2339492 | &nbsp;&nbsp; 2359644 |
| GNMA | 5.00 | &nbsp;&nbsp; 11-20-2054 | 4216401 | &nbsp;&nbsp; 4236988 |
| GNMA | 5.50 | &nbsp;&nbsp; 4-20-2053 | 1945035 | &nbsp;&nbsp; 1988659 |
| GNMA | 5.50 | &nbsp;&nbsp; 1-20-2055 | 4129492 | &nbsp;&nbsp; 4193497 |
| GNMA | 5.50 | &nbsp;&nbsp; 10-20-2055 | 4679019 | &nbsp;&nbsp; 4745295 |
| GNMA | 6.00 | &nbsp;&nbsp; 8-20-2034 | 9298 | &nbsp;&nbsp; 9390 |
| GNMA | 6.00 | &nbsp;&nbsp; 9-20-2054 | 1358528 | &nbsp;&nbsp; 1388442 |
| GNMA | 6.00 | &nbsp;&nbsp; 9-20-2055 | 3867186 | &nbsp;&nbsp; 3953030 |
| GNMA | 6.50 | &nbsp;&nbsp; 5-15-2031 | 380 | &nbsp;&nbsp; 386 |
| GNMA | 6.50 | &nbsp;&nbsp; 9-20-2033 | 10256 | &nbsp;&nbsp; 10668 |
| GNMA | 7.00 | &nbsp;&nbsp; 5-15-2026 | 2 | &nbsp;&nbsp; 2 |
| GNMA | 7.00 | &nbsp;&nbsp; 4-15-2031 | 104 | &nbsp;&nbsp; 104 |
| GNMA | 7.00 | &nbsp;&nbsp; 8-15-2031 | 10504 | &nbsp;&nbsp; 10731 |
| GNMA | 7.00 | &nbsp;&nbsp; 3-15-2032 | 8166 | &nbsp;&nbsp; 8344 |
| GNMA Series 2005-23 Class IOƒ±± | 0.00 | &nbsp;&nbsp; 6-17-2045 | 428954 | &nbsp;&nbsp; 0 |
| GNMA Series 2006-32 Class XMƒ±± | 0.15 | &nbsp;&nbsp; 11-16-2045 | 736052 | &nbsp;&nbsp; 12 |

---

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

6 \| Allspring Government Securities Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| GNMA Series 2008-22 Class XMƒ±± | 1.37<br> %<br>| &nbsp;&nbsp; 2-16-2050 | $2938109 | &nbsp;&nbsp; $27326 |
| GNMA Series 2012-H12 Class HD | 2.00 | &nbsp;&nbsp; 5-20-2062 | 16898 | &nbsp;&nbsp; 15709 |
| GNMA Series 2018-H01 Class BF (U.S. SOFR 1 Month+0.51%)± | 4.20 | &nbsp;&nbsp; 1-20-2068 | 709534 | &nbsp;&nbsp; 708682 |
| GNMA Series 2019-H06 Class HIƒ±± | 1.79 | &nbsp;&nbsp; 4-20-2069 | 580525 | &nbsp;&nbsp; 3721 |
| GNMA Series 2024-4 Class EA | 5.00 | &nbsp;&nbsp; 1-20-2052 | 1360960 | &nbsp;&nbsp; 1364909 |
| Resolution Funding Corp. Principal STRIPS¤ | 0.00 | &nbsp;&nbsp; 1-15-2030 | 9300000 | &nbsp;&nbsp; 8090843 |
| TVA Principal STRIPS¤ | 0.00 | &nbsp;&nbsp; 6-15-2035 | 2448000 | &nbsp;&nbsp; 1655269 |
| **Total agency securities (Cost $244,368,106)** |  |  |  | &nbsp;&nbsp; **238018141** |
| **Asset-backed securities: 0.74%** |  |  |  |  |
| FirstKey Homes Trust Series 2021-SFR1 Class A144A | 1.54 | &nbsp;&nbsp; 8-17-2038 | 1057129 | &nbsp;&nbsp; 1043851 |
| &nbsp;&nbsp; Navient Student Loan Trust Series 2019-2A Class A2 (30 Day Average <br> U.S. SOFR+1.11%)144A±<br>| 4.78 | &nbsp;&nbsp; 2-27-2068 | 1627252 | &nbsp;&nbsp; 1638406 |
| **Total asset-backed securities (Cost $2,681,318)** |  |  |  | &nbsp;&nbsp; **2682257** |
| **Corporate bonds and notes: 2.69%** |  |  |  |  |
| **Consumer, non-cyclical: 0.70%** |  |  |  |  |
| **Commercial services: 0.70%** |  |  |  |  |
| Rockefeller Foundation Series 2020 | 2.49 | &nbsp;&nbsp; 10-1-2050 | 4000000 | &nbsp;&nbsp; **2520436** |
| **Financial: 1.10%** |  |  |  |  |
| **REITs: 1.10%** |  |  |  |  |
| American Tower Trust #1144A | 3.65 | &nbsp;&nbsp; 3-23-2028 | 4000000 | &nbsp;&nbsp; **3983458** |
| **Government securities: 0.14%** |  |  |  |  |
| **Multi-national: 0.14%** |  |  |  |  |
| International Bank for Reconstruction & Development Series C¤ | 0.00 | &nbsp;&nbsp; 3-11-2031 | 615000 | &nbsp;&nbsp; **502378** |
| **Utilities: 0.75%** |  |  |  |  |
| **Electric: 0.75%** |  |  |  |  |
| Centerpoint Energy Restoration Bond Co. III LLC Series A-1 | 3.90 | &nbsp;&nbsp; 12-15-2030 | 2685000 | &nbsp;&nbsp; **2689350** |
| **Total corporate bonds and notes (Cost $11,244,089)** |  |  |  | &nbsp;&nbsp; **9695622** |
| **Non-agency mortgage-backed securities: 4.03%** |  |  |  |  |
| Angel Oak Mortgage Trust Series 2020-4 Class A1144A±± | 1.47 | &nbsp;&nbsp; 6-25-2065 | 209734 | &nbsp;&nbsp; 203827 |
| Arroyo Mortgage Trust Series 2019-1 Class A1144A±± | 3.81 | &nbsp;&nbsp; 1-25-2049 | 503525 | &nbsp;&nbsp; 494692 |
| Benchmark Mortgage Trust Series 2018-B1 Class A4 | 3.40 | &nbsp;&nbsp; 1-15-2051 | 110720 | &nbsp;&nbsp; 109713 |
| Benchmark Mortgage Trust Series 2019-B9 Class A5 | 4.02 | &nbsp;&nbsp; 3-15-2052 | 784571 | &nbsp;&nbsp; 776249 |
| BRAVO Residential Funding Trust Series 2020-RPL1 Class A1144A±± | 2.50 | &nbsp;&nbsp; 5-26-2059 | 452007 | &nbsp;&nbsp; 446609 |
| BX Trust Series 2019-OC11 Class A144A | 3.20 | &nbsp;&nbsp; 12-9-2041 | 3030000 | &nbsp;&nbsp; 2911898 |
| CD Mortgage Trust Series 2017-CD6 Class A5 | 3.46 | &nbsp;&nbsp; 11-13-2050 | 2340000 | &nbsp;&nbsp; 2314401 |
| GCAT Trust Series 2022-HX1 Class A1144A±± | 2.89 | &nbsp;&nbsp; 12-27-2066 | 572088 | &nbsp;&nbsp; 537913 |
| Legacy Mortgage Asset Trust Series 2020-RPL1 Class A1144A±± | 3.00 | &nbsp;&nbsp; 9-25-2059 | 1457789 | &nbsp;&nbsp; 1409560 |
| &nbsp;&nbsp; New Residential Mortgage Loan Trust Series 2020-NQM2 <br> Class A1144A±±<br>| 1.65 | &nbsp;&nbsp; 5-24-2060 | 150278 | &nbsp;&nbsp; 147250 |
| Starwood Mortgage Residential Trust Series 2021-6 Class A1144A±± | 1.92 | &nbsp;&nbsp; 11-25-2066 | 2761271 | &nbsp;&nbsp; 2485136 |

---

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

Allspring Government Securities Fund \| 7

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities**(continued) |  |  |  |  |
| UBS Commercial Mortgage Trust Series 2017-C5 Class A5 | 3.47<br> %<br>| &nbsp;&nbsp; 11-15-2050 | $2581000 | &nbsp;&nbsp; $2539309 |
| Verus Securitization Trust Series 2021-R3 Class A1144A±± | 1.02 | &nbsp;&nbsp; 4-25-2064 | 193166 | &nbsp;&nbsp; 185637 |
| **Total non-agency mortgage-backed securities (Cost $15,236,413)** |  |  |  | &nbsp;&nbsp; **14562194** |
| **U.S. Treasury securities: 21.30%** |  |  |  |  |
| U.S. Treasury Bonds | 4.38 | &nbsp;&nbsp; 8-15-2043 | 5139000 | &nbsp;&nbsp; 5054889 |
| U.S. Treasury Bonds | 4.63 | &nbsp;&nbsp; 11-15-2045 | 550000 | &nbsp;&nbsp; 553609 |
| U.S. Treasury Bonds | 4.63 | &nbsp;&nbsp; 2-15-2046 | 8127000 | &nbsp;&nbsp; 8184143 |
| U.S. Treasury Bonds | 4.63 | &nbsp;&nbsp; 5-15-2054 | 1550000 | &nbsp;&nbsp; 1545035 |
| U.S. Treasury Bonds | 4.63 | &nbsp;&nbsp; 11-15-2055 | 1110000 | &nbsp;&nbsp; 1108092 |
| U.S. Treasury Bonds | 4.75 | &nbsp;&nbsp; 11-15-2043 | 1130000 | &nbsp;&nbsp; 1163106 |
| U.S. Treasury Bonds | 4.75 | &nbsp;&nbsp; 11-15-2053 | 2440000 | &nbsp;&nbsp; 2479459 |
| U.S. Treasury Bonds | 4.75 | &nbsp;&nbsp; 5-15-2055 | 2754000 | &nbsp;&nbsp; 2802733 |
| U.S. Treasury Bonds | 4.75 | &nbsp;&nbsp; 8-15-2055 | 2760000 | &nbsp;&nbsp; 2810456 |
| U.S. Treasury Notes | 3.38 | &nbsp;&nbsp; 11-30-2027 | 9076000 | &nbsp;&nbsp; 9070328 |
| U.S. Treasury Notes | 3.50 | &nbsp;&nbsp; 10-31-2027 | 2920000 | &nbsp;&nbsp; 2923308 |
| U.S. Treasury Notes | 3.63 | &nbsp;&nbsp; 8-31-2027 | 6870000 | &nbsp;&nbsp; 6887980 |
| U.S. Treasury Notes | 3.63 | &nbsp;&nbsp; 8-31-2030 | 3368000 | &nbsp;&nbsp; 3385498 |
| U.S. Treasury Notes | 3.75 | &nbsp;&nbsp; 1-31-2031 | 3904000 | &nbsp;&nbsp; 3943650 |
| U.S. Treasury Notes | 3.88 | &nbsp;&nbsp; 7-31-2030 | 11040000 | &nbsp;&nbsp; 11213363 |
| U.S. Treasury Notes | 4.00 | &nbsp;&nbsp; 11-15-2035 | 3507000 | &nbsp;&nbsp; 3519603 |
| U.S. Treasury Notes | 4.13 | &nbsp;&nbsp; 11-15-2032 | 1802000 | &nbsp;&nbsp; 1847050 |
| U.S. Treasury Principal STRIPS¤ | 0.00 | &nbsp;&nbsp; 5-15-2039 | 7980000 | &nbsp;&nbsp; 4557020 |
| U.S. Treasury STRIPS¤ | 0.00 | &nbsp;&nbsp; 5-15-2040 | 7275000 | &nbsp;&nbsp; 3829371 |
| **Total U.S. Treasury securities (Cost $79,336,055)** |  |  |  | &nbsp;&nbsp; **76878693** |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  | Yield | Shares |  |
| **Short-term investments: 5.50%** |  |  |  |
| **Investment companies: 2.46%** |  |  |  |
| Allspring Government Money Market Fund Select Class♠∞ | 3.62 | 8876925 | &nbsp;&nbsp; **8876925** |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  |  | Principal |  |
| **U.S. Treasury securities: 3.04%** |  |  |  |  |  |
| U.S. Treasury Bills☼ |  | 3.46 | &nbsp;&nbsp; 4-9-2026 | $11000000 | &nbsp;&nbsp; **10957939** |
| **Total short-term investments (Cost $19,834,823)** |  |  |  |  | &nbsp;&nbsp; **19834864** |
| **Total investments in securities (Cost $372,700,804)** | 100.20<br> %<br>|  |  |  | &nbsp;&nbsp; 361671771 |
| Other assets and liabilities, net | (0.20)<br>|  |  |  | &nbsp;&nbsp; (715366)<br>|
| **Total net assets** | **100.00%**<br>|  |  |  | &nbsp;&nbsp; **$360956405** |

---

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

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

8 \| Allspring Government Securities Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | |
|:---|:---|
| ± | Variable rate investment. The rate shown is the rate in effect at period end. |
| ±± | The coupon of the security is adjusted based on the principal and/or interest payments received from the underlying pool of mortgages as well as the credit quality <br> and the actual prepayment speed of the underlying mortgages. The rate shown is the rate in effect at period end.<br>|
| ƒ | Investment in an interest-only security that entitles holders to receive only the interest payments on the underlying mortgages. The principal amount shown is the <br> notional amount of the underlying mortgages. The rate represents the coupon rate.<br>|
| ¤ | The security is issued in zero coupon form with no periodic interest payments. |
| 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>|
| ♠ | The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
| ∞ | The rate represents the 7-day annualized yield at period end. |
| ☼ | Zero coupon security. The rate represents the current yield to maturity. |

---

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

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| COFI | Cost of Funds Index |
| FHLMC | Federal Home Loan Mortgage Corporation |
| FNMA | Federal National Mortgage Association |
| GNMA | Government National Mortgage Association |
| REIT | Real estate investment trust |
| RFUCCT1Y | Refinitiv USD IBOR Consumer Cash Fallbacks Term 1-year |
| SOFR | Secured Overnight Financing Rate |
| STRIPS | Separate trading of registered interest and principal of securities |
| TVA | Tennessee Valley Authority |

---

**Investments in affiliates**

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| Allspring Government Money Market Fund Select <br> Class<br>| $13228375 | $110001442 | $(114352892)<br>| $0 | $0 | $8876925 | 8876925 | $232054 |

---

**Futures contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Number of <br>contracts<br>| Expiration <br>date<br>| Notional <br>cost<br>| Notional <br>value<br>| Unrealized <br>gains<br>| Unrealized <br>losses<br>|
| **Long** |  |  |  |  |  |  |
| 10-Year U.S. Treasury Notes | &nbsp;&nbsp; 131 | &nbsp;&nbsp; 6-18-2026 | &nbsp;&nbsp; $14871874 | &nbsp;&nbsp; $14909438 | &nbsp;&nbsp; $37564 | &nbsp;&nbsp; $0 |
| Ultra U.S. Treasury Bond | &nbsp;&nbsp; 71 | &nbsp;&nbsp; 6-18-2026 | &nbsp;&nbsp; 8550233 | &nbsp;&nbsp; 8633156 | &nbsp;&nbsp; 82923 | &nbsp;&nbsp; 0 |
| 2-Year U.S. Treasury Notes | &nbsp;&nbsp; 237 | &nbsp;&nbsp; 6-30-2026 | &nbsp;&nbsp; 49538934 | &nbsp;&nbsp; 49597805 | &nbsp;&nbsp; 58871 | &nbsp;&nbsp; 0 |
| **Short** |  |  |  |  |  |  |
| Ultra 10-Year U.S. Treasury Notes | &nbsp;&nbsp; (16)<br>| &nbsp;&nbsp; 6-18-2026 | &nbsp;&nbsp; (1856973)<br>| &nbsp;&nbsp; (1867750)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (10777)<br>|
|  |  |  |  |  | &nbsp;&nbsp; **$179358** | &nbsp;&nbsp; **$(10777)**<br>|

---

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

Allspring Government Securities Fund \| 9

------

Statement of assets and liabilities—February 28, 2026 (unaudited)

Financial statements

Statement of assets and liabilities

---

| | |
|:---|:---|
| Assets |  |
| Investments in unaffiliated securities, at value (cost $363,823,879) | $352794846 |
| Investments in affiliated securities, at value (cost $8,876,925) | 8876925 |
| Cash | 1215 |
| Cash at broker segregated for futures contracts | 2666000 |
| Receivable for investments sold | 7494940 |
| Receivable for interest | 1463851 |
| Receivable for Fund shares sold | 307142 |
| Receivable for daily variation margin on open futures contracts | 152941 |
| Principal paydown receivable | 30911 |
| Prepaid expenses and other assets | 57466 |
| **Total assets** | **373846237** |
| Liabilities |  |
| Payable for investments purchased | 12013781 |
| Dividends payable | 353242 |
| Payable for Fund shares redeemed | 284201 |
| Management fee payable | 95215 |
| Administration fees payable | 29267 |
| Shareholder servicing fees payable | 22974 |
| Payable for daily variation margin on open futures contracts | 8500 |
| Trustees' fees and expenses payable | 367 |
| Accrued expenses and other liabilities | 82285 |
| **Total liabilities** | **12889832** |
| **Total net assets**  | **$360956405** |
| Net assets consist of |  |
| Paid-in capital | $447314730 |
| Total distributable loss | (86358325)<br>|
| **Total net assets** | **$360956405** |
| Computation of net asset value and offering price per share |  |
| Net assets–Class A | $116983325 |
| Shares outstanding–Class A<sup>1</sup> <br>| 11680196 |
| Net asset value per share–Class A | $10.02 |
| Maximum offering price per share – Class A<sup>2</sup> <br>| $10.49 |
| Net assets–Institutional Class | $243973080 |
| Shares outstanding–Institutional Class<sup>1</sup> <br>| 24366704 |
| Net asset value per share–Institutional Class | $10.01 |

---

<sup>1</sup> The Fund has an unlimited number of authorized shares.

<sup>2</sup> Maximum offering price is computed as 100/95.50 of net asset value. On investments of $50,000 or more, the offering price is reduced.

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

10 \| Allspring Government Securities Fund

------

Statement of operations—six months ended February 28, 2026 (unaudited)

Statement of operations

---

| | |
|:---|:---|
| Investment income |  |
| Interest | $6869405 |
| Income from affiliated securities | 232054 |
| **Total investment income** | **7101459** |
| Expenses |  |
| Management fee | 825334 |
| Administration fees |  |
| Class A | 90768 |
| Class C | 336 <br><sup>1</sup><br>|
| Administrator Class | 2003 <br><sup>2</sup><br>|
| Institutional Class | 96414 |
| Shareholder servicing fees |  |
| Class A | 150026 |
| Class C | 558 <br><sup>1</sup><br>|
| Administrator Class | 4929 <br><sup>2</sup><br>|
| Distribution fee |  |
| Class C | 1668 <br><sup>1</sup><br>|
| Custody and accounting fees | 9973 |
| Professional fees | 46874 |
| Registration fees | 46750 |
| Shareholder report expenses | 21638 |
| Trustees' fees and expenses | 4683 |
| Other fees and expenses | 11546 |
| **Total expenses** | **1313500** |
| Less: Fee waivers and/or expense reimbursements |  |
| Fund-level | (153439)<br>|
| Class A | (35990)<br>|
| Institutional Class | (57266)<br>|
| **Net expenses** | **1066805** |
| **Net investment income** | **6034654** |
| Realized and unrealized gains (losses) on investments |  |
| Net realized gains on |  |
| Unaffiliated securities | 754935 |
| Futures contracts | 589573 |
| **Net realized gains on investments**  | **1344508** |
| Net change in unrealized gains (losses) on |  |
| Unaffiliated securities | 7096888 |
| Futures contracts | 26196 |
| **Net change in unrealized gains (losses) on investments** | **7123084** |
| **Net realized and unrealized gains (losses) on investments** | **8467592** |
| **Net increase in net assets resulting from operations** | **$14502246** |

---

<sup>1</sup> For the period from September 1, 2025 to November 14, 2025. Effective at the close of business on November 14, 2025, Class C shares were converted to Class A shares and are no longer offered by the Fund.

<sup>2</sup> For the period from September 1, 2025 to September 12, 2025. Effective at the close of business on September 12, 2025, Administrator Class shares were converted to Institutional Class shares and are no longer offered by the Fund.

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

Allspring Government Securities Fund \| 11

------

Statement of changes in net assets

Statement of changes in net assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six months ended<br> February 28, 2026<br> (unaudited) | Six months ended<br> February 28, 2026<br> (unaudited) | Year ended<br> August 31, 2025 | Year ended<br> August 31, 2025 |
| Operations |  |  |  |  |
| Net investment income |  | &nbsp;&nbsp; $6034654 |  | &nbsp;&nbsp; $13421647 |
| Net realized gains (losses) on investments |  | &nbsp;&nbsp; 1344508 |  | &nbsp;&nbsp; (9716557)<br>|
| Net change in unrealized gains (losses) on investments |  | &nbsp;&nbsp; 7123084 |  | &nbsp;&nbsp; 4833758 |
| **Net increase in net assets resulting from operations** |  | &nbsp;&nbsp; **14502246** |  | &nbsp;&nbsp; **8538848** |
| Distributions to shareholders from |  |  |  |  |
| Net investment income and net realized gains |  |  |  |  |
| Class A |  | &nbsp;&nbsp; (1828908)<br>|  | &nbsp;&nbsp; (4064222)<br>|
| Class C |  | &nbsp;&nbsp; (5301 )<sup>1</sup><br>|  | &nbsp;&nbsp; (28200)<br>|
| Administrator Class |  | &nbsp;&nbsp; (68538 )<sup>2</sup><br>|  | &nbsp;&nbsp; (1898277)<br>|
| Institutional Class |  | &nbsp;&nbsp; (4000157)<br>|  | &nbsp;&nbsp; (7494872)<br>|
| **Total distributions to shareholders** |  | &nbsp;&nbsp; **(5902904)**<br>|  | &nbsp;&nbsp; **(13485571)**<br>|
| Capital share transactions | Shares |  | &nbsp;&nbsp; Shares |  |
| Proceeds from shares sold |  |  |  |  |
| Class A | 409257 | &nbsp;&nbsp; 4045695 | &nbsp;&nbsp; 1401008 | &nbsp;&nbsp; 13576674 |
| Class C | 39 <br><sup>1</sup><br>| &nbsp;&nbsp; 379 <br><sup>1</sup><br>| &nbsp;&nbsp; 47076 | &nbsp;&nbsp; 456890 |
| Administrator Class | 26400 <br><sup>2</sup><br>| &nbsp;&nbsp; 259933 <br><sup>2</sup><br>| &nbsp;&nbsp; 1170373 | &nbsp;&nbsp; 11350693 |
| Institutional Class | 3491146 | &nbsp;&nbsp; 34516849 | &nbsp;&nbsp; 9863068 | &nbsp;&nbsp; 95248853 |
|  |  | &nbsp;&nbsp; 38822856 |  | &nbsp;&nbsp; 120633110 |
| Reinvestment of distributions |  |  |  |  |
| Class A | 162546 | &nbsp;&nbsp; 1609004 | &nbsp;&nbsp; 363604 | &nbsp;&nbsp; 3533230 |
| Class C | 350 <br><sup>1</sup><br>| &nbsp;&nbsp; 3454 <br><sup>1</sup><br>| &nbsp;&nbsp; 2139 | &nbsp;&nbsp; 20771 |
| Administrator Class | 0 <br><sup>2</sup><br>| &nbsp;&nbsp; 0 <br><sup>2</sup><br>| &nbsp;&nbsp; 192084 | &nbsp;&nbsp; 1865350 |
| Institutional Class | 216648 | &nbsp;&nbsp; 2143768 | &nbsp;&nbsp; 401116 | &nbsp;&nbsp; 3895273 |
|  |  | &nbsp;&nbsp; 3756226 |  | &nbsp;&nbsp; 9314624 |
| Payment for shares redeemed |  |  |  |  |
| Class A | (1893677)<br>| &nbsp;&nbsp; (18727864)<br>| &nbsp;&nbsp; (4091533)<br>| &nbsp;&nbsp; (39871703)<br>|
| Class C | (1031 )<sup>1</sup><br>| &nbsp;&nbsp; (10214 )<sup>1</sup><br>| &nbsp;&nbsp; (54247)<br>| &nbsp;&nbsp; (526384)<br>|
| Administrator Class | (327021 )<sup>2</sup><br>| &nbsp;&nbsp; (3233456 )<sup>2</sup><br>| &nbsp;&nbsp; (1827475)<br>| &nbsp;&nbsp; (17686542)<br>|
| Institutional Class | (4724242)<br>| &nbsp;&nbsp; (46664034)<br>| &nbsp;&nbsp; (16398918)<br>| &nbsp;&nbsp; (158124195)<br>|
|  |  | &nbsp;&nbsp; (68635568)<br>|  | &nbsp;&nbsp; (216208824)<br>|

---

<sup>1</sup> For the period from September 1, 2025 to November 14, 2025

<sup>2</sup> For the period from September 1, 2025 to September 12, 2025

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

12 \| Allspring Government Securities Fund

------

Statement of changes in net assets

Statement of changes in net assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six months ended<br> February 28, 2026<br> (unaudited) | Six months ended<br> February 28, 2026<br> (unaudited) | Year ended<br> August 31, 2025 | Year ended<br> August 31, 2025 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares |  | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares |  |
| Share conversions |  |  |  |  |
| Class A | 108434 | &nbsp;&nbsp; $1068710 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; $0 |
| Class C | (108430 )<sup>3</sup><br>| &nbsp;&nbsp; (1068710 )<sup>3</sup><br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| Administrator Class | (5462529 )<sup>4</sup><br>| &nbsp;&nbsp; (54009113 )<sup>4</sup><br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| Institutional Class | 5461810 | &nbsp;&nbsp; 54009113 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp; 0 |  | &nbsp;&nbsp; 0 |
| **Net decrease in net assets resulting from capital share transactions** |  | &nbsp;&nbsp; **(26056486)**<br>|  | &nbsp;&nbsp; **(86261090)**<br>|
| **Total decrease in net assets** |  | &nbsp;&nbsp; **(17457144)**<br>|  | &nbsp;&nbsp; **(91207813)**<br>|
| Net assets |  |  |  |  |
| **Beginning of period** |  | &nbsp;&nbsp; **378413549** |  | &nbsp;&nbsp; **469621362** |
| **End of period** |  | &nbsp;&nbsp; **$360956405** |  | &nbsp;&nbsp; **$378413549** |

---

<sup>3</sup> Effective at the close of business on November 14, 2025, Class C shares were converted to Class A shares and are no longer offered by the Fund.

<sup>4</sup> Effective at the close of business on September 12, 2025, Administrator Class shares were converted to Institutional Class shares and are no longer offered by the Fund.

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

Allspring Government Securities Fund \| 13

------

Financial highlights

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Class A | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$9.78** | &nbsp;&nbsp; **$9.86** | &nbsp;&nbsp; **$9.56** | &nbsp;&nbsp; **$10.11** | &nbsp;&nbsp; **$11.49** | &nbsp;&nbsp; **$11.67** |
| Net investment income | 0.15 <br><sup>1</sup><br>| 0.30 <br><sup>1</sup><br>| 0.29 <br><sup>1</sup><br>| 0.24 <br><sup>1</sup><br>| 0.14 | 0.12 <br><sup>1</sup><br>|
| Net realized and unrealized gains (losses) on investments | 0.24 | &nbsp;&nbsp; (0.08)<br>| 0.30 | &nbsp;&nbsp; (0.56)<br>| &nbsp;&nbsp; (1.39)<br>| &nbsp;&nbsp; (0.17)<br>|
| Total from investment operations | 0.39 | 0.22 | 0.59 | &nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp; (1.25)<br>| &nbsp;&nbsp; (0.05)<br>|
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.15)<br>| &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.11)<br>|
| Tax basis return of capital | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.02)<br>|
| Total distributions to shareholders | (0.15)<br>| &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.13)<br>|
| **Net asset value, end of period** | **$10.02** | &nbsp;&nbsp; **$9.78** | &nbsp;&nbsp; **$9.86** | &nbsp;&nbsp; **$9.56** | &nbsp;&nbsp; **$10.11** | &nbsp;&nbsp; **$11.49** |
| **Total return**<sup>2</sup> <br>| **4.00%**<br>| **2.32%**<br>| **6.35%**<br>| &nbsp;&nbsp; **(3.14)%**<br>| &nbsp;&nbsp; **(10.95)%**<br>| &nbsp;&nbsp; **(0.40)%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.92<br> %<br>| 0.93<br> %<br>| 0.90<br> %<br>| 0.91<br> %<br>| 0.89<br> %<br>| 0.89<br> %<br>|
| Net expenses | 0.78<br> %<br>| 0.81<br> %<br>| 0.84<br> %<br>| 0.85<br> %<br>| 0.84<br> %<br>| 0.84<br> %<br>|
| Net investment income | 3.07<br> %<br>| 3.10<br> %<br>| 3.02<br> %<br>| 2.42<br> %<br>| 1.28<br> %<br>| 1.00<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 43<br> %<br>| &nbsp;&nbsp; 103<br> %<br>| &nbsp;&nbsp; 77<br> %<br>| &nbsp;&nbsp; 152<br> %<br>| &nbsp;&nbsp; 309<br> %<br>| &nbsp;&nbsp; 221<br> %<br>|
| Net assets, end of period (000s omitted) | $116983 | &nbsp;&nbsp; $126146 | &nbsp;&nbsp; $150148 | &nbsp;&nbsp; $165441 | &nbsp;&nbsp; $196839 | &nbsp;&nbsp; $265018 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding

<sup>2</sup> Total return calculations do not include any sales charges. Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. 

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

14 \| Allspring Government Securities Fund

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Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Institutional Class | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$9.78** | &nbsp;&nbsp; **$9.86** | &nbsp;&nbsp; **$9.56** | &nbsp;&nbsp; **$10.10** | &nbsp;&nbsp; **$11.48** | &nbsp;&nbsp; **$11.66** |
| Net investment income | 0.17 <br><sup>1</sup><br>| 0.33 <br><sup>1</sup><br>| 0.32 <br><sup>1</sup><br>| 0.28 <br><sup>1</sup><br>| 0.17 | 0.16 <br><sup>1</sup><br>|
| Net realized and unrealized gains (losses) on investments | 0.22 | &nbsp;&nbsp; (0.08)<br>| 0.31 | &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; (1.38)<br>| &nbsp;&nbsp; (0.17)<br>|
| Total from investment operations | 0.39 | 0.25 | 0.63 | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; (1.21)<br>| &nbsp;&nbsp; (0.01)<br>|
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.16)<br>| &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; (0.17)<br>| &nbsp;&nbsp; (0.15)<br>|
| Tax basis return of capital | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.02)<br>|
| Total distributions to shareholders | (0.16)<br>| &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; (0.17)<br>| &nbsp;&nbsp; (0.17)<br>|
| **Net asset value, end of period** | **$10.01** | &nbsp;&nbsp; **$9.78** | &nbsp;&nbsp; **$9.86** | &nbsp;&nbsp; **$9.56** | &nbsp;&nbsp; **$10.10** | &nbsp;&nbsp; **$11.48** |
| **Total return**<sup>2</sup> <br>| **4.05%**<br>| **2.66%**<br>| **6.73%**<br>| &nbsp;&nbsp; **(2.69)%**<br>| &nbsp;&nbsp; **(10.63)%**<br>| &nbsp;&nbsp; **(0.05)%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.60<br> %<br>| 0.61<br> %<br>| 0.59<br> %<br>| 0.58<br> %<br>| 0.56<br> %<br>| 0.56<br> %<br>|
| Net expenses | 0.48<br> %<br>| 0.48<br> %<br>| 0.48<br> %<br>| 0.48<br> %<br>| 0.48<br> %<br>| 0.48<br> %<br>|
| Net investment income | 3.37<br> %<br>| 3.43<br> %<br>| 3.38<br> %<br>| 2.83<br> %<br>| 1.66<br> %<br>| 1.36<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 43<br> %<br>| &nbsp;&nbsp; 103<br> %<br>| &nbsp;&nbsp; 77<br> %<br>| &nbsp;&nbsp; 152<br> %<br>| &nbsp;&nbsp; 309<br> %<br>| &nbsp;&nbsp; 221<br> %<br>|
| Net assets, end of period (000s omitted) | $243973 | &nbsp;&nbsp; $194841 | &nbsp;&nbsp; $256937 | &nbsp;&nbsp; $316449 | &nbsp;&nbsp; $255952 | &nbsp;&nbsp; $306431 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding <br> <sup>2</sup> Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized.

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

Allspring Government Securities Fund \| 15

------

Notes to financial statements (unaudited)

Notes to financial statements

1. ORGANIZATION

Allspring Funds Trust (the "Trust"), a Delaware statutory trust organized on March 10, 1999, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act"). As an investment company, the Trust follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services* – *Investment Companies*. These financial statements report on the Allspring Government Securities Fund (the "Fund") which is a diversified series of the Trust.

Effective at the close of business on September 12, 2025, Administrator Class shares were converted to Institutional Class shares in a tax-free conversion. Shareholders of Administrator Class received Institutional Class shares at a value equal to the value of their Administrator Class shares immediately prior to the conversion. Administrator Class shares are no longer offered by the Fund. Additionally, effective at the close of business on November 14, 2025, Class C shares were converted to Class A shares in a tax-free conversion. Shareholders of Class C received Class A shares at a value equal to the value of their Class C shares immediately prior to the conversion. Class C shares are no longer offered by the Fund.

2. SIGNIFICANT ACCOUNTING POLICIES

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

Securities valuation

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

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

Futures contracts that are listed on a foreign or domestic exchange or market are valued at the official closing price or, if none, the last sales price.

Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.

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

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.

Futures contracts

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

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

16 \| Allspring Government Securities Fund

------

Notes to financial statements (unaudited)

Mortgage dollar roll transactions

The Fund may engage in mortgage dollar roll transactions through To Be Announced (TBA) mortgage-backed securities issued by Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC). In a mortgage dollar roll transaction, the Fund sells a mortgage-backed security to a financial institution, such as a bank or broker-dealer and simultaneously agrees to repurchase a substantially similar security from the institution at a later date at an agreed upon price. The mortgage-backed securities that are repurchased will bear the same interest rate as those sold, but generally will be collateralized by different pools of mortgages with different pre-payment histories. During the roll period, the Fund foregoes principal and interest paid on the securities. The Fund is compensated by the difference between the current sales price and the forward price for the future purchase as well as by the earnings on the cash proceeds of the initial sale. Mortgage dollar rolls may be renewed without physical delivery of the securities subject to the contract. The Fund accounts for TBA dollar roll transactions as purchases and sales which, as a result, may increase its portfolio turnover rate.

Security transactions and income recognition

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

Interest income is accrued daily and bond discounts are accreted and premiums are amortized daily. To the extent debt obligations are placed on non-accrual status, any related interest income may be reduced by writing off interest receivables when the collection of all or a portion of interest has been determined to be doubtful based on consistently applied procedures and the fair value has decreased. If the issuer subsequently resumes interest payments or when the collectability of interest is reasonably assured, the debt obligation is removed from non-accrual status. Paydown gains and losses are included in interest income.

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

Distributions to shareholders

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

Federal and other taxes

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

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

As of February 28, 2026, the aggregate cost of all investments for federal income tax purposes was $380,797,133 and the unrealized gains (losses) consisted of:

---

| | |
|:---|:---|
| Gross unrealized gains | &nbsp;&nbsp; $3248286 |
| Gross unrealized losses | &nbsp;&nbsp; (22205067)<br>|
| **Net unrealized losses** | &nbsp;&nbsp; **$(18956781)**<br>|

---

As of August 31, 2025, the Fund had capital loss carryforwards which consisted of $33,540,617 in short-term capital losses and $35,172,219 in long-term capital losses.

Class allocations

The separate classes of shares offered by the Fund differ principally in applicable sales charges, distribution, shareholder servicing, and administration fees. Class specific expenses are charged directly to that share class. Investment income, common fund-level expenses, and realized and unrealized gains (losses) on investments are allocated daily to each class of shares based on the relative proportion of net assets of each class.&nbsp;&nbsp;&nbsp;&nbsp;

Allspring Government Securities Fund \| 17

------

Notes to financial statements (unaudited)

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

3. FAIR VALUATION MEASUREMENTS

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

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

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

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

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

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Agency securities** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $238018141 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $238018141 |
| **Asset-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 2682257 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 2682257 |
| **Corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 9695622 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 9695622 |
| **Non-agency mortgage-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 14562194 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 14562194 |
| **U.S. Treasury securities** | &nbsp;&nbsp; 68492302 | &nbsp;&nbsp;&nbsp; 8386391 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 76878693 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 8876925 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 8876925 |
| *U.S. Treasury securities* | &nbsp;&nbsp; 10957939 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 10957939 |
|  | &nbsp;&nbsp; 88327166 | &nbsp;&nbsp;&nbsp; 273344605 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 361671771 |
| **Futures contracts** | &nbsp;&nbsp; 179358 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 179358 |
| **Total assets** | &nbsp;&nbsp; **$88506524** | &nbsp;&nbsp;&nbsp; **$273344605** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$361851129** |
| **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** |
| **Futures contracts** | &nbsp;&nbsp; $10777 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $10777 |
| **Total liabilities** | &nbsp;&nbsp; **$10777** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$10777** |

---

Futures contracts are reported at their cumulative unrealized gains (losses) at measurement date as reported in the table following the Portfolio of investments. For futures contracts, the current day's variation margin is reported on the Statement of assets and liabilities. All other assets and liabilities are reported at their market value at measurement date.

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

At February 28, 2026, the Fund did not have any transfers into/out of Level 3.

4. TRANSACTIONS WITH AFFILIATES

Management fee

Allspring Funds Management, a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P., is the manager of the Fund and provides advisory and fund-level administrative services under an investment management agreement. Under the investment management agreement, Allspring Funds Management is responsible for, among other services, implementing the investment objectives and strategies of the Fund, supervising the subadviser and providing fund-level administrative services in connection with the Fund's operations. As compensation for its services under the investment management agreement, Allspring Funds

18 \| Allspring Government Securities Fund

------

Notes to financial statements (unaudited)

Management is entitled to receive a management fee, which is generally paid monthly, at the following annual rate based on the Fund's average daily net assets:

---

| | |
|:---|:---|
| Average daily net assets | Management fee |
| First $500 million | 0.450<br> %<br>|
| Next $500 million | 0.425 |
| Next $2 billion | 0.400 |
| Next $2 billion | 0.375 |
| Next $5 billion | 0.340 |
| Over $10 billion | 0.320 |

---

For the six months ended February 28, 2026, the management fee was equivalent to an annual rate of 0.45% of the Fund's average daily net assets.

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

Administration fees

Under a class-level administration agreement, Allspring Funds Management provides class-level administrative services to the Fund, which includes paying fees and expenses for services provided by the transfer agent, sub-transfer agents, omnibus account servicers and record-keepers. As compensation for its services under the class-level administration agreement, Allspring Funds Management receives an annual fee which is calculated based on the average daily net assets of each class and generally paid monthly, as follows:

---

| | |
|:---|:---|
|  | Class-level <br>administration fee<br>|
| Class A | 0.15<br> %<br>|
| Class C | 0.15 |
| Administrator Class | 0.10 |
| Institutional Class | 0.08 |

---

Waivers and/or expense reimbursements

Allspring Funds Management has contractually committed to waive and/or reimburse management and administration fees to the extent necessary to maintain certain net operating expense ratios for the Fund. When each class of the Fund has exceeded its expense cap, Allspring Funds Management will waive fees and/or reimbursed expenses from fund-level expenses on a proportionate basis and then from class specific expenses. When only certain classes exceed their expense caps, waivers and/or reimbursements are applied against class specific expenses before fund-level expenses. Allspring Funds Management has contractually committed through December 31, 2026 to waive fees and/or reimburse expenses to the extent necessary to cap the Fund's expenses. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. As of February 28, 2026, the contractual caps are as follows:&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | EXPENSE RATIO CAPS |
| Class A | 0.84<br> %<br>|
| Institutional Class | 0.48 |

---

Distribution fee

The Trust has adopted a distribution plan for Class C shares pursuant to Rule 12b-1 under the 1940 Act. A distribution fee is charged to Class C shares and paid to Allspring Funds Distributor, LLC ("Allspring Funds Distributor"), the principal underwriter, an affiliate of Allspring Funds Management, at an annual rate up to 0.75% of the average daily net assets of Class C shares. Such fees are generally paid on a monthly basis.

In addition, Allspring Funds Distributor is entitled to receive the front-end sales charge from the purchase of Class A shares and a contingent deferred sales charge on the redemption of certain Class A shares. Allspring Funds Distributor is also entitled to receive the contingent deferred sales charges from redemptions of Class C shares. For the six months ended February 28, 2026, Allspring Funds Distributor received $4 from the sale of Class A shares. No contingent deferred sales charges were incurred by Class A and Class C shares for the six months ended February 28, 2026.

Shareholder servicing fees

The Trust has entered into contracts with one or more shareholder servicing agents, whereby Class A, Class C and Administrator Class are charged a fee at an annual rate up to 0.25% of the average daily net assets of each respective class. These fees are generally paid on a monthly basis. A portion of these total shareholder servicing fees were paid to affiliates of the Fund.

Allspring Government Securities Fund \| 19

------

Notes to financial statements (unaudited)

Interfund transactions

The Fund may purchase or sell portfolio investment securities to certain affiliates pursuant to Rule 17a-7 under the 1940 Act and under procedures adopted by the Board of Trustees. The procedures have been designed to ensure that these interfund transactions, which do not incur broker commissions, are effected at current market prices. Pursuant to these procedures, the Fund did not have any interfund transactions during the six months ended February 28, 2026.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments, excluding short-term securities, for the six months ended February 28, 2026 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| Purchases at cost | Purchases at cost | Sales Proceeds | Sales Proceeds |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $146692305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $2684962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $151448217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $0 |

---

6. DERIVATIVE TRANSACTIONS

During the six months ended February 28, 2026, the Fund entered into futures contracts to manage duration and yield curve exposures. The Fund had an average notional amount of $84,822,161 in long futures contracts and $3,302,701 in short futures contracts during the six months ended February 28, 2026.

The fair value, realized gains or losses and change in unrealized gains or losses, if any, on derivative instruments are reflected in the corresponding financial statement captions.

7. BANK BORROWINGS

The Fund, together with certain other registered Allspring Funds is party to a $275,000,000 revolving credit agreement whereby the Fund is permitted to use bank borrowings for temporary or emergency purposes, such as to fund shareholder redemption requests. Interest under the credit agreement is charged to the Fund based on a borrowing rate equal to the higher of the Federal Funds rate or the overnight bank funding rate in effect on that day plus a spread. In addition, an annual commitment fee based on the unused balance is allocated to each participating fund.

For the six months ended February 28, 2026, there were no borrowings by the Fund under the agreement.

8. INDEMNIFICATION

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

9. OPERATING SEGMENTS

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

10. NEW ACCOUNTING PRONOUNCEMENT

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

20 \| Allspring Government Securities Fund

------

Other information (unaudited)

Other information

Proxy voting information

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

Quarterly portfolio holdings information

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

Allspring Government Securities Fund \| 21

------

Other information (unaudited)

Item 8. Changes in and disagreements with accountants

Not applicable

Item 9. Matters submitted to fund shareholders for a vote

Not applicable

Item 10. Remuneration paid to directors, officers and others

Refer to information in the Statement of operations.

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

Not applicable

22 \| Allspring Government Securities Fund

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*This page is intentionally left blank.*

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![](g132415img6e97004c1.jpg)

For more information

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

Allspring Funds

P.O. Box 219967

Kansas City, MO 64121-9967

Website: **allspringglobal.com**

Individual investors: **1-800-222-8222**

Retail investment professionals: **1-888-877-9275**

Institutional investment professionals: **1-800-260-5969**

![](g132415img838e59162.gif)

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. If this report is used for promotional purposes, distribution of the report must be accompanied or preceded by a current prospectus. Before investing, please consider the investment objectives, risks, charges, and expenses of the investment. For a current prospectus and, if available, a summary prospectus, containing this information, call* ***1-800-222-8222*** *or visit the Fund's website at* ***allspringglobal.com****. Read the prospectus carefully before you invest or send money.*

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

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

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

**NCSRS3004 02-26**

------

![](g132415img6170e05d1.jpg)

Allspring High Yield Bond Fund

Long Form Financial Statements

Semi-Annual Report

February 28, 2026

------

Contents

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

---

| | |
|:---|:---|
| **[Portfolio of investments](#xx_0b85cd9b-8260-4be7-94f3-3c4a3e66b46f_POI-PageBlank-94_1)** | 2 |
| **[Item 7. Financial statements and financial highlights](#xx_0b85cd9b-8260-4be7-94f3-3c4a3e66b46f_FS-PageBlank-94_1)** |  |
| [Statement of assets and liabilities](#xx_0b85cd9b-8260-4be7-94f3-3c4a3e66b46f_FS-PageBlank-94_1) | 14 |
| [Statement of operations](#xx_0b85cd9b-8260-4be7-94f3-3c4a3e66b46f_FS-PageBlank-94_2) | 15 |
| [Statement of changes in net assets](#xx_0b85cd9b-8260-4be7-94f3-3c4a3e66b46f_FS-PageBlank-94_3) | 16 |
| [Financial highlights](#xx_0b85cd9b-8260-4be7-94f3-3c4a3e66b46f_FIHI-PageBlank-94_1) | 18 |
| **[Notes to financial statements](#xx_0b85cd9b-8260-4be7-94f3-3c4a3e66b46f_NTF-PageBlank-94_1)** | 20 |
| **[Other information](#xx_0b85cd9b-8260-4be7-94f3-3c4a3e66b46f_OI-PageBlank-94_1)** | 25 |
| [Item 8. Changes in and disagreements with accountants](#xx_0b85cd9b-8260-4be7-94f3-3c4a3e66b46f_OI-PageBlank-94_2) | 26 |
| [Item 9. Matters submitted to fund shareholders for a vote](#xx_0b85cd9b-8260-4be7-94f3-3c4a3e66b46f_OI-PageBlank-94_2) | 26 |
| [Item 10. Remuneration paid to directors, officers and others](#xx_0b85cd9b-8260-4be7-94f3-3c4a3e66b46f_OI-PageBlank-94_2) | 26 |
| [Item 11. Statement regarding basis for board](#xx_0b85cd9b-8260-4be7-94f3-3c4a3e66b46f_OI-PageBlank-94_2)['](#xx_0b85cd9b-8260-4be7-94f3-3c4a3e66b46f_OI-PageBlank-94_2)[s approval of investment](#xx_0b85cd9b-8260-4be7-94f3-3c4a3e66b46f_OI-PageBlank-94_2)<br> [advisory contract](#xx_0b85cd9b-8260-4be7-94f3-3c4a3e66b46f_OI-PageBlank-94_2)<br>| 26 |

---

Allspring High Yield Bond Fund \| 1

------

Portfolio of investments—February 28, 2026 (unaudited)

Portfolio of investments

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest <br>rate<br>| Maturity <br>date<br>| Principal | Value |
| **Asset-backed securities: 0.30%** |  |  |  |  |
| Uniti Fiber ABS Issuer LLC Series 2025-1A Class B144A | 6.37<br> %<br>| &nbsp;&nbsp; 4-20-2055 | $680000 | &nbsp;&nbsp; $699461 |
| **Total asset-backed securities (Cost $680,000)** |  |  |  | &nbsp;&nbsp; **699461** |

---

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

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Common stocks: 0.81%** |  |  |
| **Energy: 0.58%** |  |  |
| **Oil, gas & consumable fuels: 0.58%** |  |  |
| Enviva, Inc. (Acquired 12-06-2024, cost $450,230)†˃ | 82510 | &nbsp;&nbsp; **1371729** |
| **Health care: 0.23%** |  |  |
| **Health care providers & services: 0.23%** |  |  |
| Modivcare Topco LLC† | 94448 | &nbsp;&nbsp; **531270** |
| **Total common stocks (Cost $764,487)** |  | &nbsp;&nbsp; **1902999** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  |  | Principal |  |
| **Corporate bonds and notes: 78.78%** |  |  |  |  |
| **Basic materials: 2.50%** |  |  |  |  |
| **Chemicals: 1.97%** |  |  |  |  |
| Celanese U.S. Holdings LLC | 6.50 | &nbsp;&nbsp; 4-15-2030 | $1200000 | &nbsp;&nbsp; 1229717 |
| Celanese U.S. Holdings LLC | 7.38 | &nbsp;&nbsp; 7-15-2032 | 475000 | &nbsp;&nbsp; 500753 |
| Chemours Co.144A%% | 7.88 | &nbsp;&nbsp; 3-15-2034 | 505000 | &nbsp;&nbsp; 504369 |
| Chemours Co.144A | 8.00 | &nbsp;&nbsp; 1-15-2033 | 1155000 | &nbsp;&nbsp; 1174688 |
| SCIH Salt Holdings, Inc.144A | 6.63 | &nbsp;&nbsp; 5-1-2029 | 1205000 | &nbsp;&nbsp; 1201987 |
|  |  |  |  | &nbsp;&nbsp; **4611514** |
| **Iron/steel: 0.53%** |  |  |  |  |
| Cleveland-Cliffs, Inc.144A | 7.00 | &nbsp;&nbsp; 3-15-2032 | 1230000 | &nbsp;&nbsp; **1249220** |
| **Communications: 12.40%** |  |  |  |  |
| **Advertising: 1.34%** |  |  |  |  |
| Clear Channel Outdoor Holdings, Inc.144A | 7.13 | &nbsp;&nbsp; 2-15-2031 | 1460000 | &nbsp;&nbsp; 1543236 |
| Outfront Media Capital LLC/Outfront Media Capital Corp.144A | 4.63 | &nbsp;&nbsp; 3-15-2030 | 500000 | &nbsp;&nbsp; 490524 |
| Outfront Media Capital LLC/Outfront Media Capital Corp.144A | 7.38 | &nbsp;&nbsp; 2-15-2031 | 1050000 | &nbsp;&nbsp; 1103857 |
|  |  |  |  | &nbsp;&nbsp; **3137617** |
| **Internet: 1.95%** |  |  |  |  |
| Arches Buyer, Inc.144A | 4.25 | &nbsp;&nbsp; 6-1-2028 | 675000 | &nbsp;&nbsp; 653755 |
| Arches Buyer, Inc.144A | 6.13 | &nbsp;&nbsp; 12-1-2028 | 495000 | &nbsp;&nbsp; 467164 |
| Cablevision Lightpath LLC144A | 5.63 | &nbsp;&nbsp; 9-15-2028 | 875000 | &nbsp;&nbsp; 874354 |
| Match Group Holdings II LLC144A | 5.63 | &nbsp;&nbsp; 2-15-2029 | 975000 | &nbsp;&nbsp; 973329 |
| Match Group Holdings II LLC144A | 6.13 | &nbsp;&nbsp; 9-15-2033 | 655000 | &nbsp;&nbsp; 653206 |
| Wayfair LLC144A | 6.75 | &nbsp;&nbsp; 11-15-2032 | 935000 | &nbsp;&nbsp; 952947 |
|  |  |  |  | &nbsp;&nbsp; **4574755** |
| **Media: 5.45%** |  |  |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp.144A | 4.25 | &nbsp;&nbsp; 1-15-2034 | 2170000 | &nbsp;&nbsp; 1890289 |
| CCO Holdings LLC/CCO Holdings Capital Corp.144A | 4.50 | &nbsp;&nbsp; 8-15-2030 | 3000000 | &nbsp;&nbsp; 2861482 |

---

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

2 \| Allspring High Yield Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Media**(continued) |  |  |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp. | 4.50<br> %<br>| &nbsp;&nbsp; 5-1-2032 | $130000 | &nbsp;&nbsp; $118970 |
| CSC Holdings LLC144A | 3.38 | &nbsp;&nbsp; 2-15-2031 | 965000 | &nbsp;&nbsp; 575227 |
| CSC Holdings LLC144A | 5.50 | &nbsp;&nbsp; 4-15-2027 | 950000 | &nbsp;&nbsp; 805445 |
| CSC Holdings LLC144A | 5.75 | &nbsp;&nbsp; 1-15-2030 | 560000 | &nbsp;&nbsp; 216364 |
| CSC Holdings LLC144A | 11.25 | &nbsp;&nbsp; 5-15-2028 | 750000 | &nbsp;&nbsp; 594203 |
| DIRECTV Financing LLC/DIRECTV Financing Co-Obligor, Inc.144A | 5.88 | &nbsp;&nbsp; 8-15-2027 | 235000 | &nbsp;&nbsp; 235273 |
| DISH DBS Corp.144A | 5.75 | &nbsp;&nbsp; 12-1-2028 | 570000 | &nbsp;&nbsp; 551649 |
| DISH Network Corp.144A | 11.75 | &nbsp;&nbsp; 11-15-2027 | 1900000 | &nbsp;&nbsp; 1967024 |
| Gray Media, Inc.144A | 9.63 | &nbsp;&nbsp; 7-15-2032 | 720000 | &nbsp;&nbsp; 748070 |
| Paramount Global (U.S. SOFR 3 Month+3.90%)± | 6.25 | &nbsp;&nbsp; 2-28-2057 | 885000 | &nbsp;&nbsp; 686141 |
| Sirius XM Radio LLC144A | 4.13 | &nbsp;&nbsp; 7-1-2030 | 1625000 | &nbsp;&nbsp; 1531693 |
|  |  |  |  | &nbsp;&nbsp; **12781830** |
| **Telecommunications: 3.66%** |  |  |  |  |
| EchoStar Corp. (PIK at 6.75%)¥ | 6.75 | &nbsp;&nbsp; 11-30-2030 | 2903950 | &nbsp;&nbsp; 2940987 |
| Level 3 Financing, Inc.144A | 3.63 | &nbsp;&nbsp; 1-15-2029 | 825000 | &nbsp;&nbsp; 775500 |
| Level 3 Financing, Inc.144A | 6.88 | &nbsp;&nbsp; 6-30-2033 | 830000 | &nbsp;&nbsp; 859610 |
| Level 3 Financing, Inc.144A | 8.50 | &nbsp;&nbsp; 1-15-2036 | 865000 | &nbsp;&nbsp; 900638 |
| SV RNO Property Owner 1 LLC144A | 5.88 | &nbsp;&nbsp; 3-1-2031 | 700000 | &nbsp;&nbsp; 703136 |
| Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC144A | 8.63 | &nbsp;&nbsp; 6-15-2032 | 370000 | &nbsp;&nbsp; 375257 |
| Windstream Services LLC/Windstream Escrow Finance Corp.144A | 8.25 | &nbsp;&nbsp; 10-1-2031 | 1040000 | &nbsp;&nbsp; 1094948 |
| WULF Compute LLC144A | 7.75 | &nbsp;&nbsp; 10-15-2030 | 875000 | &nbsp;&nbsp; 926637 |
|  |  |  |  | &nbsp;&nbsp; **8576713** |
| **Consumer, cyclical: 14.45%** |  |  |  |  |
| **Airlines: 0.35%** |  |  |  |  |
| JetBlue Airways Corp./JetBlue Loyalty LP144A | 9.88 | &nbsp;&nbsp; 9-20-2031 | 810000 | &nbsp;&nbsp; **823159** |
| **Apparel: 0.38%** |  |  |  |  |
| Beach Acquisition Bidco LLC (PIK at 10.75%)144A¥ | 10.00 | &nbsp;&nbsp; 7-15-2033 | 795806 | &nbsp;&nbsp; **879368** |
| **Auto manufacturers: 0.09%** |  |  |  |  |
| Nissan Motor Acceptance Co. LLC144A | 7.05 | &nbsp;&nbsp; 9-15-2028 | 210000 | &nbsp;&nbsp; **218213** |
| **Auto parts & equipment: 1.49%** |  |  |  |  |
| Adient Global Holdings Ltd.144A | 7.50 | &nbsp;&nbsp; 2-15-2033 | 1035000 | &nbsp;&nbsp; 1086245 |
| Adient Global Holdings Ltd.144A | 8.25 | &nbsp;&nbsp; 4-15-2031 | 190000 | &nbsp;&nbsp; 198767 |
| American Axle & Manufacturing, Inc. | 5.00 | &nbsp;&nbsp; 10-1-2029 | 620000 | &nbsp;&nbsp; 605710 |
| American Axle & Manufacturing, Inc.144A | 7.75 | &nbsp;&nbsp; 10-15-2033 | 425000 | &nbsp;&nbsp; 431945 |
| ZF North America Capital, Inc.144A | 6.88 | &nbsp;&nbsp; 4-23-2032 | 680000 | &nbsp;&nbsp; 682160 |
| ZF North America Capital, Inc.144A | 7.50 | &nbsp;&nbsp; 3-24-2031 | 460000 | &nbsp;&nbsp; 474083 |
|  |  |  |  | &nbsp;&nbsp; **3478910** |
| **Entertainment: 2.91%** |  |  |  |  |
| Churchill Downs, Inc.144A | 6.75 | &nbsp;&nbsp; 5-1-2031 | 1085000 | &nbsp;&nbsp; 1117665 |
| Cinemark USA, Inc.144A | 7.00 | &nbsp;&nbsp; 8-1-2032 | 1875000 | &nbsp;&nbsp; 1952855 |
| Discovery Global Holdings, Inc. | 4.05 | &nbsp;&nbsp; 3-15-2029 | 770000 | &nbsp;&nbsp; 761815 |
| Discovery Global Holdings, Inc. | 4.28 | &nbsp;&nbsp; 3-15-2032 | 435000 | &nbsp;&nbsp; 399656 |
| Discovery Global Holdings, Inc. | 5.05 | &nbsp;&nbsp; 3-15-2042 | 625000 | &nbsp;&nbsp; 439063 |

---

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

Allspring High Yield Bond Fund \| 3

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Entertainment**(continued) |  |  |  |  |
| Six Flags Entertainment Corp.144A | 7.25<br> %<br>| &nbsp;&nbsp; 5-15-2031 | $240000 | &nbsp;&nbsp; $235556 |
| &nbsp;&nbsp; Six Flags Entertainment Corp./Canada's Wonderland Co./Millennium <br> Operations LLC144A<br>| 8.63 | &nbsp;&nbsp; 1-15-2032 | 500000 | &nbsp;&nbsp; 506247 |
| &nbsp;&nbsp; Six Flags Entertainment Corp./Six Flags Theme Parks, Inc./Canada's <br> Wonderland Co.144A<br>| 6.63 | &nbsp;&nbsp; 5-1-2032 | 1390000 | &nbsp;&nbsp; 1413198 |
|  |  |  |  | &nbsp;&nbsp; **6826055** |
| **Home builders: 1.34%** |  |  |  |  |
| Ashton Woods USA LLC/Ashton Woods Finance Co.144A | 6.88 | &nbsp;&nbsp; 8-1-2033 | 1055000 | &nbsp;&nbsp; 1064863 |
| Century Communities, Inc.144A | 6.63 | &nbsp;&nbsp; 9-15-2033 | 595000 | &nbsp;&nbsp; 604588 |
| K Hovnanian Enterprises, Inc.144A | 8.38 | &nbsp;&nbsp; 10-1-2033 | 480000 | &nbsp;&nbsp; 492228 |
| LGI Homes, Inc.144A | 8.75 | &nbsp;&nbsp; 12-15-2028 | 940000 | &nbsp;&nbsp; 980760 |
|  |  |  |  | &nbsp;&nbsp; **3142439** |
| **Home furnishings: 0.30%** |  |  |  |  |
| Whirlpool Corp. | 6.13 | &nbsp;&nbsp; 6-15-2030 | 710000 | &nbsp;&nbsp; **713187** |
| **Housewares: 0.83%** |  |  |  |  |
| Central Garden & Pet Co. | 4.13 | &nbsp;&nbsp; 10-15-2030 | 300000 | &nbsp;&nbsp; 289508 |
| Newell Brands, Inc. | 6.38 | &nbsp;&nbsp; 5-15-2030 | 810000 | &nbsp;&nbsp; 812484 |
| Newell Brands, Inc.144A | 8.50 | &nbsp;&nbsp; 6-1-2028 | 800000 | &nbsp;&nbsp; 842081 |
|  |  |  |  | &nbsp;&nbsp; **1944073** |
| **Leisure time: 0.91%** |  |  |  |  |
| NCL Corp. Ltd.144A | 6.25 | &nbsp;&nbsp; 9-15-2033 | 820000 | &nbsp;&nbsp; 827662 |
| NCL Corp. Ltd.144A | 6.75 | &nbsp;&nbsp; 2-1-2032 | 510000 | &nbsp;&nbsp; 525216 |
| NCL Corp. Ltd.144A | 7.75 | &nbsp;&nbsp; 2-15-2029 | 450000 | &nbsp;&nbsp; 480817 |
| Viking Cruises Ltd.144A | 5.88 | &nbsp;&nbsp; 10-15-2033 | 280000 | &nbsp;&nbsp; 285645 |
|  |  |  |  | &nbsp;&nbsp; **2119340** |
| **Lodging: 0.50%** |  |  |  |  |
| Genting New York LLC/GENNY Capital, Inc.144A | 7.25 | &nbsp;&nbsp; 10-1-2029 | 875000 | &nbsp;&nbsp; 907224 |
| Hilton Domestic Operating Co., Inc.144A | 6.13 | &nbsp;&nbsp; 4-1-2032 | 250000 | &nbsp;&nbsp; 258463 |
|  |  |  |  | &nbsp;&nbsp; **1165687** |
| **Retail: 5.35%** |  |  |  |  |
| Advance Auto Parts, Inc.144A | 7.38 | &nbsp;&nbsp; 8-1-2033 | 1075000 | &nbsp;&nbsp; 1101665 |
| Carvana Co.144A | 9.00 | &nbsp;&nbsp; 6-1-2030 | 1910000 | &nbsp;&nbsp; 1988424 |
| Carvana Co.144A | 9.00 | &nbsp;&nbsp; 6-1-2031 | 595000 | &nbsp;&nbsp; 652556 |
| FirstCash, Inc.144A | 6.88 | &nbsp;&nbsp; 3-1-2032 | 1500000 | &nbsp;&nbsp; 1548002 |
| Lithia Motors, Inc.144A | 4.38 | &nbsp;&nbsp; 1-15-2031 | 300000 | &nbsp;&nbsp; 288553 |
| Macy's Retail Holdings LLC144A | 6.13 | &nbsp;&nbsp; 3-15-2032 | 805000 | &nbsp;&nbsp; 810843 |
| Michaels Cos., Inc.144A | 7.88 | &nbsp;&nbsp; 5-1-2029 | 600000 | &nbsp;&nbsp; 602701 |
| Michaels Cos., Inc.144A%% | 8.50 | &nbsp;&nbsp; 3-15-2033 | 1200000 | &nbsp;&nbsp; 1167246 |
| Petco Health & Wellness Co., Inc.144A | 8.25 | &nbsp;&nbsp; 2-1-2031 | 170000 | &nbsp;&nbsp; 166028 |
| PetSmart LLC/PetSmart Finance Corp.144A | 7.50 | &nbsp;&nbsp; 9-15-2032 | 990000 | &nbsp;&nbsp; 1001761 |
| PetSmart LLC/PetSmart Finance Corp.144A | 10.00 | &nbsp;&nbsp; 9-15-2033 | 680000 | &nbsp;&nbsp; 681939 |
| QXO Building Products, Inc.144A | 6.75 | &nbsp;&nbsp; 4-30-2032 | 775000 | &nbsp;&nbsp; 802680 |

---

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

4 \| Allspring High Yield Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Retail**(continued) |  |  |  |  |
| Sally Holdings LLC/Sally Capital, Inc. | 6.75<br> %<br>| &nbsp;&nbsp; 3-1-2032 | $595000 | &nbsp;&nbsp; $617707 |
| Sonic Automotive, Inc.144A | 4.63 | &nbsp;&nbsp; 11-15-2029 | 400000 | &nbsp;&nbsp; 393316 |
| Sonic Automotive, Inc.144A | 4.88 | &nbsp;&nbsp; 11-15-2031 | 750000 | &nbsp;&nbsp; 724652 |
|  |  |  |  | &nbsp;&nbsp; **12548073** |
| **Consumer, non-cyclical: 12.72%** |  |  |  |  |
| **Commercial services: 5.47%** |  |  |  |  |
| ADT Security Corp.144A | 5.88 | &nbsp;&nbsp; 10-15-2033 | 405000 | &nbsp;&nbsp; 411628 |
| Allied Universal Holdco LLC144A | 7.88 | &nbsp;&nbsp; 2-15-2031 | 865000 | &nbsp;&nbsp; 913880 |
| Block, Inc. | 6.50 | &nbsp;&nbsp; 5-15-2032 | 1000000 | &nbsp;&nbsp; 1028759 |
| CoreCivic, Inc. | 8.25 | &nbsp;&nbsp; 4-15-2029 | 2015000 | &nbsp;&nbsp; 2095290 |
| GEO Group, Inc. | 8.63 | &nbsp;&nbsp; 4-15-2029 | 1295000 | &nbsp;&nbsp; 1347468 |
| GEO Group, Inc. | 10.25 | &nbsp;&nbsp; 4-15-2031 | 1150000 | &nbsp;&nbsp; 1234785 |
| Herc Holdings, Inc.144A | 7.00 | &nbsp;&nbsp; 6-15-2030 | 1150000 | &nbsp;&nbsp; 1205105 |
| Herc Holdings, Inc.144A | 7.25 | &nbsp;&nbsp; 6-15-2033 | 995000 | &nbsp;&nbsp; 1051782 |
| Sabre Financial Borrower LLC144A | 11.13 | &nbsp;&nbsp; 6-15-2029 | 450000 | &nbsp;&nbsp; 433589 |
| Service Corp. International | 5.75 | &nbsp;&nbsp; 10-15-2032 | 700000 | &nbsp;&nbsp; 713656 |
| Sotheby's/BidFair Holdings, Inc.144A | 5.88 | &nbsp;&nbsp; 6-1-2029 | 1495000 | &nbsp;&nbsp; 1438383 |
| Veritiv Operating Co.144A | 10.50 | &nbsp;&nbsp; 11-30-2030 | 885000 | &nbsp;&nbsp; 946923 |
|  |  |  |  | &nbsp;&nbsp; **12821248** |
| **Food: 0.82%** |  |  |  |  |
| Industrial F&B Investments III, Inc.144A | 7.75 | &nbsp;&nbsp; 2-11-2033 | 680000 | &nbsp;&nbsp; 697907 |
| Lamb Weston Holdings, Inc.144A | 4.38 | &nbsp;&nbsp; 1-31-2032 | 770000 | &nbsp;&nbsp; 735057 |
| Performance Food Group, Inc.144A | 6.13 | &nbsp;&nbsp; 9-15-2032 | 475000 | &nbsp;&nbsp; 487586 |
|  |  |  |  | &nbsp;&nbsp; **1920550** |
| **Healthcare-services: 5.54%** |  |  |  |  |
| CHS/Community Health Systems, Inc.144A | 5.25 | &nbsp;&nbsp; 5-15-2030 | 625000 | &nbsp;&nbsp; 600520 |
| CHS/Community Health Systems, Inc.144A | 6.00 | &nbsp;&nbsp; 1-15-2029 | 730000 | &nbsp;&nbsp; 727212 |
| CHS/Community Health Systems, Inc.144A | 6.88 | &nbsp;&nbsp; 4-15-2029 | 630000 | &nbsp;&nbsp; 608585 |
| CHS/Community Health Systems, Inc.144A | 10.88 | &nbsp;&nbsp; 1-15-2032 | 360000 | &nbsp;&nbsp; 390141 |
| Concentra Health Services, Inc.144A | 6.88 | &nbsp;&nbsp; 7-15-2032 | 1450000 | &nbsp;&nbsp; 1514007 |
| DaVita, Inc.144A | 6.88 | &nbsp;&nbsp; 9-1-2032 | 2335000 | &nbsp;&nbsp; 2426266 |
| IQVIA, Inc.144A | 6.25 | &nbsp;&nbsp; 6-1-2032 | 375000 | &nbsp;&nbsp; 385754 |
| Molina Healthcare, Inc.144A | 6.25 | &nbsp;&nbsp; 1-15-2033 | 515000 | &nbsp;&nbsp; 506614 |
| MPH Acquisition Holdings LLC144A | 5.75 | &nbsp;&nbsp; 12-31-2030 | 462178 | &nbsp;&nbsp; 338827 |
| MPH Acquisition Holdings LLC (PIK at 0.75%)144A¥ | 6.75 | &nbsp;&nbsp; 3-31-2031 | 582175 | &nbsp;&nbsp; 372592 |
| MPH Acquisition Holdings LLC (PIK at 5.00%)144A¥ | 11.50 | &nbsp;&nbsp; 12-31-2030 | 520809 | &nbsp;&nbsp; 463520 |
| Pediatrix Medical Group, Inc.144A | 5.38 | &nbsp;&nbsp; 2-15-2030 | 960000 | &nbsp;&nbsp; 953790 |
| Radiology Partners, Inc.144A | 8.50 | &nbsp;&nbsp; 7-15-2032 | 840000 | &nbsp;&nbsp; 864931 |
| Star Parent, Inc.144A | 9.00 | &nbsp;&nbsp; 10-1-2030 | 1150000 | &nbsp;&nbsp; 1167210 |
| Surgery Center Holdings, Inc.144A | 7.25 | &nbsp;&nbsp; 4-15-2032 | 795000 | &nbsp;&nbsp; 794036 |
| Tenet Healthcare Corp. | 6.75 | &nbsp;&nbsp; 5-15-2031 | 850000 | &nbsp;&nbsp; 882533 |
|  |  |  |  | &nbsp;&nbsp; **12996538** |

---

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

Allspring High Yield Bond Fund \| 5

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Pharmaceuticals: 0.89%** |  |  |  |  |
| AdaptHealth LLC144A | 5.13<br> %<br>| &nbsp;&nbsp; 3-1-2030 | $1055000 | &nbsp;&nbsp; $1016564 |
| Endo Finance Holdings LP144A | 8.50 | &nbsp;&nbsp; 4-15-2031 | 1000000 | &nbsp;&nbsp; 1062793 |
|  |  |  |  | &nbsp;&nbsp; **2079357** |
| **Energy: 9.25%** |  |  |  |  |
| **Energy-alternate sources: 0.00%** |  |  |  |  |
| Enviva Partners LP/Enviva Partners Finance Corp.144A♦† | 6.50 | &nbsp;&nbsp; 1-15-2026 | 3940000 | &nbsp;&nbsp; **0** |
| **Oil & gas: 1.62%** |  |  |  |  |
| California Resources Corp.144A | 7.00 | &nbsp;&nbsp; 1-15-2034 | 355000 | &nbsp;&nbsp; 361497 |
| California Resources Corp.144A | 8.25 | &nbsp;&nbsp; 6-15-2029 | 1100000 | &nbsp;&nbsp; 1154790 |
| Caturus Energy LLC144A | 8.50 | &nbsp;&nbsp; 2-15-2030 | 275000 | &nbsp;&nbsp; 287352 |
| Hilcorp Energy I LP/Hilcorp Finance Co.144A | 6.00 | &nbsp;&nbsp; 2-1-2031 | 410000 | &nbsp;&nbsp; 399368 |
| Nabors Industries, Inc.144A | 9.13 | &nbsp;&nbsp; 1-31-2030 | 915000 | &nbsp;&nbsp; 962150 |
| SM Energy Co.144A | 9.63 | &nbsp;&nbsp; 6-15-2033 | 575000 | &nbsp;&nbsp; 635798 |
|  |  |  |  | &nbsp;&nbsp; **3800955** |
| **Oil & gas services: 2.03%** |  |  |  |  |
| Archrock Partners LP/Archrock Partners Finance Corp.144A | 6.63 | &nbsp;&nbsp; 9-1-2032 | 855000 | &nbsp;&nbsp; 889749 |
| Bristow Group, Inc.144A | 6.75 | &nbsp;&nbsp; 2-1-2033 | 955000 | &nbsp;&nbsp; 969016 |
| Bristow Group, Inc.144A | 6.88 | &nbsp;&nbsp; 3-1-2028 | 1175000 | &nbsp;&nbsp; 1175000 |
| Oceaneering International, Inc. | 6.00 | &nbsp;&nbsp; 2-1-2028 | 730000 | &nbsp;&nbsp; 742742 |
| SESI LLC144A | 7.88 | &nbsp;&nbsp; 9-30-2030 | 785000 | &nbsp;&nbsp; 801514 |
| USA Compression Partners LP/USA Compression Finance Corp.144A | 6.25 | &nbsp;&nbsp; 10-1-2033 | 170000 | &nbsp;&nbsp; 172882 |
|  |  |  |  | &nbsp;&nbsp; **4750903** |
| **Pipelines: 5.60%** |  |  |  |  |
| Antero Midstream Partners LP/Antero Midstream Finance Corp.144A | 5.75 | &nbsp;&nbsp; 10-15-2033 | 495000 | &nbsp;&nbsp; 502500 |
| Buckeye Partners LP144A | 6.88 | &nbsp;&nbsp; 7-1-2029 | 1175000 | &nbsp;&nbsp; 1219094 |
| CQP Holdco LP/BIP-V Chinook Holdco LLC144A | 5.50 | &nbsp;&nbsp; 6-15-2031 | 375000 | &nbsp;&nbsp; 373978 |
| CQP Holdco LP/BIP-V Chinook Holdco LLC144A | 7.50 | &nbsp;&nbsp; 12-15-2033 | 1480000 | &nbsp;&nbsp; 1596557 |
| Excelerate Energy LP144A | 8.00 | &nbsp;&nbsp; 5-15-2030 | 965000 | &nbsp;&nbsp; 1022930 |
| Harvest Midstream I LP144A | 7.50 | &nbsp;&nbsp; 9-1-2028 | 1115000 | &nbsp;&nbsp; 1127426 |
| Hess Midstream Operations LP144A | 5.50 | &nbsp;&nbsp; 10-15-2030 | 200000 | &nbsp;&nbsp; 201508 |
| Hess Midstream Operations LP144A | 6.50 | &nbsp;&nbsp; 6-1-2029 | 240000 | &nbsp;&nbsp; 248342 |
| Prairie Acquiror LP144A | 9.00 | &nbsp;&nbsp; 8-1-2029 | 850000 | &nbsp;&nbsp; 886962 |
| Rockies Express Pipeline LLC144A | 6.75 | &nbsp;&nbsp; 3-15-2033 | 400000 | &nbsp;&nbsp; 421370 |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.144A | 6.00 | &nbsp;&nbsp; 12-31-2030 | 1350000 | &nbsp;&nbsp; 1368091 |
| Venture Global LNG, Inc.144A | 8.38 | &nbsp;&nbsp; 6-1-2031 | 850000 | &nbsp;&nbsp; 870432 |
| Venture Global LNG, Inc.144A | 9.88 | &nbsp;&nbsp; 2-1-2032 | 765000 | &nbsp;&nbsp; 810471 |
| &nbsp;&nbsp; Venture Global LNG, Inc. (5 Year Treasury Constant <br> Maturity+5.44%)144Aʊ±<br>| 9.00 | &nbsp;&nbsp; 9-30-2029 | 1270000 | &nbsp;&nbsp; 1110711 |
| Venture Global Plaquemines LNG LLC144A | 7.50 | &nbsp;&nbsp; 5-1-2033 | 1220000 | &nbsp;&nbsp; 1353381 |
|  |  |  |  | &nbsp;&nbsp; **13113753** |

---

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

6 \| Allspring High Yield Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Financial: 13.65%** |  |  |  |  |
| **Banks: 2.04%** |  |  |  |  |
| &nbsp;&nbsp; Citigroup, Inc. Series HH (5 Year Treasury Constant <br> Maturity+3.00%)ʊ±<br>| 6.63<br> %<br>| &nbsp;&nbsp; 2-15-2031 | $2330000 | &nbsp;&nbsp; $2408710 |
| &nbsp;&nbsp; PNC Financial Services Group, Inc. Series U (5 Year Treasury Constant <br> Maturity+3.00%)ʊ±<br>| 6.00 | &nbsp;&nbsp; 5-15-2027 | 1165000 | &nbsp;&nbsp; 1174618 |
| Wells Fargo & Co. (5 Year Treasury Constant Maturity+2.77%)ʊ± | 6.85 | &nbsp;&nbsp; 9-15-2029 | 1130000 | &nbsp;&nbsp; 1191753 |
|  |  |  |  | &nbsp;&nbsp; **4775081** |
| **Diversified financial services: 5.18%** |  |  |  |  |
| Azorra Finance Ltd.144A | 7.25 | &nbsp;&nbsp; 1-15-2031 | 590000 | &nbsp;&nbsp; 615779 |
| Encore Capital Group, Inc.144A | 9.25 | &nbsp;&nbsp; 4-1-2029 | 925000 | &nbsp;&nbsp; 968145 |
| EZCORP, Inc.144A | 7.38 | &nbsp;&nbsp; 4-1-2032 | 680000 | &nbsp;&nbsp; 728238 |
| Jane Street Group/JSG Finance, Inc.144A | 6.13 | &nbsp;&nbsp; 11-1-2032 | 565000 | &nbsp;&nbsp; 568374 |
| Jane Street Group/JSG Finance, Inc.144A | 6.75 | &nbsp;&nbsp; 5-1-2033 | 455000 | &nbsp;&nbsp; 466914 |
| Jane Street Group/JSG Finance, Inc.144A | 7.13 | &nbsp;&nbsp; 4-30-2031 | 1040000 | &nbsp;&nbsp; 1082007 |
| Jefferson Capital Holdings LLC144A | 8.25 | &nbsp;&nbsp; 5-15-2030 | 390000 | &nbsp;&nbsp; 408600 |
| Jefferson Capital Holdings LLC144A | 9.50 | &nbsp;&nbsp; 2-15-2029 | 670000 | &nbsp;&nbsp; 706022 |
| Navient Corp. | 11.50 | &nbsp;&nbsp; 3-15-2031 | 265000 | &nbsp;&nbsp; 280809 |
| OneMain Finance Corp. | 7.88 | &nbsp;&nbsp; 3-15-2030 | 1280000 | &nbsp;&nbsp; 1338822 |
| PRA Group, Inc.144A | 5.00 | &nbsp;&nbsp; 10-1-2029 | 765000 | &nbsp;&nbsp; 706139 |
| Provident Funding Associates LP/PFG Finance Corp.144A | 9.75 | &nbsp;&nbsp; 9-15-2029 | 775000 | &nbsp;&nbsp; 803414 |
| Rocket Cos., Inc.144A | 6.13 | &nbsp;&nbsp; 8-1-2030 | 450000 | &nbsp;&nbsp; 461679 |
| Rocket Cos., Inc.144A | 7.13 | &nbsp;&nbsp; 2-1-2032 | 1050000 | &nbsp;&nbsp; 1098157 |
| United Wholesale Mortgage LLC144A | 5.50 | &nbsp;&nbsp; 4-15-2029 | 1600000 | &nbsp;&nbsp; 1569173 |
| United Wholesale Mortgage LLC144A | 6.25 | &nbsp;&nbsp; 3-15-2031 | 355000 | &nbsp;&nbsp; 342991 |
|  |  |  |  | &nbsp;&nbsp; **12145263** |
| **Insurance: 2.51%** |  |  |  |  |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer144A | 7.38 | &nbsp;&nbsp; 10-1-2032 | 2055000 | &nbsp;&nbsp; 2031935 |
| AmWINS Group, Inc.144A | 6.38 | &nbsp;&nbsp; 2-15-2029 | 735000 | &nbsp;&nbsp; 747946 |
| Asurion LLC & Asurion Co-Issuer, Inc.144A | 8.00 | &nbsp;&nbsp; 12-31-2032 | 340000 | &nbsp;&nbsp; 357105 |
| Asurion LLC & Asurion Co-Issuer, Inc.144A | 8.38 | &nbsp;&nbsp; 2-1-2034 | 930000 | &nbsp;&nbsp; 925505 |
| Broadstreet Partners Group LLC144A | 5.88 | &nbsp;&nbsp; 4-15-2029 | 600000 | &nbsp;&nbsp; 581098 |
| HUB International Ltd.144A | 7.25 | &nbsp;&nbsp; 6-15-2030 | 205000 | &nbsp;&nbsp; 211448 |
| HUB International Ltd.144A | 7.38 | &nbsp;&nbsp; 1-31-2032 | 1000000 | &nbsp;&nbsp; 1017825 |
|  |  |  |  | &nbsp;&nbsp; **5872862** |
| **Investment Companies: 0.25%** |  |  |  |  |
| &nbsp;&nbsp; HA Sustainable Infrastructure Capital, Inc. (5 Year Treasury Constant <br> Maturity+4.30%)±<br>| 8.00 | &nbsp;&nbsp; 6-1-2056 | 565000 | &nbsp;&nbsp; **595154** |
| **REITs: 3.67%** |  |  |  |  |
| Blackstone Mortgage Trust, Inc.144A | 7.75 | &nbsp;&nbsp; 12-1-2029 | 745000 | &nbsp;&nbsp; 794120 |
| Brandywine Operating Partnership LP | 6.13 | &nbsp;&nbsp; 1-15-2031 | 410000 | &nbsp;&nbsp; 389059 |
| Brandywine Operating Partnership LP | 8.88 | &nbsp;&nbsp; 4-12-2029 | 535000 | &nbsp;&nbsp; 568343 |
| Iron Mountain, Inc.144A | 4.50 | &nbsp;&nbsp; 2-15-2031 | 1775000 | &nbsp;&nbsp; 1712014 |
| Iron Mountain, Inc.144A | 5.25 | &nbsp;&nbsp; 7-15-2030 | 360000 | &nbsp;&nbsp; 358198 |
| &nbsp;&nbsp; Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance <br> Co-Issuer144A<br>| 7.00 | &nbsp;&nbsp; 2-1-2030 | 845000 | &nbsp;&nbsp; 874889 |

---

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

Allspring High Yield Bond Fund \| 7

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **REITs**(continued) |  |  |  |  |
| RHP Hotel Properties LP/RHP Finance Corp.144A%% | 5.75<br> %<br>| &nbsp;&nbsp; 3-15-2034 | $850000 | &nbsp;&nbsp; $856202 |
| RHP Hotel Properties LP/RHP Finance Corp.144A | 6.50 | &nbsp;&nbsp; 6-15-2033 | 890000 | &nbsp;&nbsp; 924523 |
| Starwood Property Trust, Inc.144A | 6.50 | &nbsp;&nbsp; 7-1-2030 | 1100000 | &nbsp;&nbsp; 1144027 |
| Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC144A | 6.00 | &nbsp;&nbsp; 1-15-2030 | 365000 | &nbsp;&nbsp; 344918 |
| Vornado Realty LP | 5.75 | &nbsp;&nbsp; 2-1-2033 | 625000 | &nbsp;&nbsp; 634133 |
|  |  |  |  | &nbsp;&nbsp; **8600426** |
| **Industrial: 5.39%** |  |  |  |  |
| **Aerospace/defense: 0.53%** |  |  |  |  |
| TransDigm, Inc.144A | 6.63 | &nbsp;&nbsp; 3-1-2032 | 1200000 | &nbsp;&nbsp; **1243191** |
| **Building materials: 1.66%** |  |  |  |  |
| Camelot Return Merger Sub, Inc.144A | 8.75 | &nbsp;&nbsp; 8-1-2028 | 945000 | &nbsp;&nbsp; 713486 |
| CP Atlas Buyer, Inc.144A | 9.75 | &nbsp;&nbsp; 7-15-2030 | 280000 | &nbsp;&nbsp; 280266 |
| EMRLD Borrower LP/Emerald Co-Issuer, Inc.144A | 6.63 | &nbsp;&nbsp; 12-15-2030 | 1275000 | &nbsp;&nbsp; 1319618 |
| Quikrete Holdings, Inc.144A | 6.38 | &nbsp;&nbsp; 3-1-2032 | 325000 | &nbsp;&nbsp; 337772 |
| Quikrete Holdings, Inc.144A | 6.75 | &nbsp;&nbsp; 3-1-2033 | 700000 | &nbsp;&nbsp; 727619 |
| Standard Building Solutions, Inc.144A | 6.25 | &nbsp;&nbsp; 8-1-2033 | 500000 | &nbsp;&nbsp; 509326 |
|  |  |  |  | &nbsp;&nbsp; **3888087** |
| **Electrical components & equipment: 0.90%** |  |  |  |  |
| Energizer Holdings, Inc.144A | 4.38 | &nbsp;&nbsp; 3-31-2029 | 1095000 | &nbsp;&nbsp; 1063677 |
| WESCO Distribution, Inc.144A | 6.63 | &nbsp;&nbsp; 3-15-2032 | 1000000 | &nbsp;&nbsp; 1040269 |
|  |  |  |  | &nbsp;&nbsp; **2103946** |
| **Electronics: 0.14%** |  |  |  |  |
| Sensata Technologies, Inc.144A | 6.63 | &nbsp;&nbsp; 7-15-2032 | 320000 | &nbsp;&nbsp; **334972** |
| **Environmental control: 0.26%** |  |  |  |  |
| Clean Harbors, Inc.144A | 6.38 | &nbsp;&nbsp; 2-1-2031 | 600000 | &nbsp;&nbsp; **616034** |
| **Miscellaneous manufacturing: 0.30%** |  |  |  |  |
| Entegris, Inc.144A | 5.95 | &nbsp;&nbsp; 6-15-2030 | 690000 | &nbsp;&nbsp; **703617** |
| **Packaging & containers: 0.64%** |  |  |  |  |
| Clydesdale Acquisition Holdings, Inc.144A | 6.88 | &nbsp;&nbsp; 1-15-2030 | 385000 | &nbsp;&nbsp; 390902 |
| Clydesdale Acquisition Holdings, Inc.144A | 8.75 | &nbsp;&nbsp; 4-15-2030 | 1110000 | &nbsp;&nbsp; 1105107 |
|  |  |  |  | &nbsp;&nbsp; **1496009** |
| **Transportation: 0.40%** |  |  |  |  |
| Genesee & Wyoming, Inc.144A | 6.25 | &nbsp;&nbsp; 4-15-2032 | 900000 | &nbsp;&nbsp; **927663** |
| **Trucking & leasing: 0.56%** |  |  |  |  |
| FTAI Aviation Investors LLC144A | 7.00 | &nbsp;&nbsp; 5-1-2031 | 1100000 | &nbsp;&nbsp; 1155028 |
| FTAI Aviation Investors LLC144A | 7.00 | &nbsp;&nbsp; 6-15-2032 | 150000 | &nbsp;&nbsp; 157455 |
|  |  |  |  | &nbsp;&nbsp; **1312483** |

---

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

8 \| Allspring High Yield Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Technology: 4.02%** |  |  |  |  |
| **Computers: 0.45%** |  |  |  |  |
| Diebold Nixdorf, Inc.144A | 7.75<br> %<br>| &nbsp;&nbsp; 3-31-2030 | $1005000 | &nbsp;&nbsp; **$1059994** |
| **Office/business equipment: 0.47%** |  |  |  |  |
| Zebra Technologies Corp.144A | 6.50 | &nbsp;&nbsp; 6-1-2032 | 1060000 | &nbsp;&nbsp; **1086470** |
| **Software: 3.10%** |  |  |  |  |
| AthenaHealth Group, Inc.144A | 6.50 | &nbsp;&nbsp; 2-15-2030 | 1800000 | &nbsp;&nbsp; 1692477 |
| Cloud Software Group, Inc.144A | 8.25 | &nbsp;&nbsp; 6-30-2032 | 1350000 | &nbsp;&nbsp; 1351131 |
| Cloud Software Group, Inc.144A | 9.00 | &nbsp;&nbsp; 9-30-2029 | 1085000 | &nbsp;&nbsp; 1062485 |
| CoreWeave, Inc.144A | 9.00 | &nbsp;&nbsp; 2-1-2031 | 1020000 | &nbsp;&nbsp; 984164 |
| Ellucian Holdings, Inc.144A | 6.50 | &nbsp;&nbsp; 12-1-2029 | 505000 | &nbsp;&nbsp; 495212 |
| Rocket Software, Inc.144A | 6.50 | &nbsp;&nbsp; 2-15-2029 | 245000 | &nbsp;&nbsp; 205115 |
| Rocket Software, Inc.144A | 9.00 | &nbsp;&nbsp; 11-28-2028 | 1100000 | &nbsp;&nbsp; 1072510 |
| SS&C Technologies, Inc.144A | 6.50 | &nbsp;&nbsp; 6-1-2032 | 400000 | &nbsp;&nbsp; 407701 |
|  |  |  |  | &nbsp;&nbsp; **7270795** |
| **Utilities: 4.40%** |  |  |  |  |
| **Electric: 4.40%** |  |  |  |  |
| AES Corp. (5 Year Treasury Constant Maturity+2.89%)± | 6.95 | &nbsp;&nbsp; 7-15-2055 | 570000 | &nbsp;&nbsp; 550909 |
| AES Corp. (5 Year Treasury Constant Maturity+3.20%)± | 7.60 | &nbsp;&nbsp; 1-15-2055 | 755000 | &nbsp;&nbsp; 758883 |
| Duke Energy Corp. (5 Year Treasury Constant Maturity+2.59%)± | 6.45 | &nbsp;&nbsp; 9-1-2054 | 1100000 | &nbsp;&nbsp; 1159081 |
| Edison International (5 Year Treasury Constant Maturity+3.86%)± | 8.13 | &nbsp;&nbsp; 6-15-2053 | 795000 | &nbsp;&nbsp; 826391 |
| EUSHI Finance, Inc. (5 Year Treasury Constant Maturity+3.14%)± | 7.63 | &nbsp;&nbsp; 12-15-2054 | 1295000 | &nbsp;&nbsp; 1367112 |
| PacifiCorp (5 Year Treasury Constant Maturity+3.29%)± | 7.13 | &nbsp;&nbsp; 8-15-2056 | 935000 | &nbsp;&nbsp; 918951 |
| Pattern Energy Operations LP/Pattern Energy Operations, Inc.144A | 4.50 | &nbsp;&nbsp; 8-15-2028 | 750000 | &nbsp;&nbsp; 741311 |
| PG&E Corp. (5 Year Treasury Constant Maturity+3.88%)± | 7.38 | &nbsp;&nbsp; 3-15-2055 | 1315000 | &nbsp;&nbsp; 1360371 |
| Vistra Corp. (5 Year Treasury Constant Maturity+5.74%)144Aʊ± | 7.00 | &nbsp;&nbsp; 12-15-2026 | 680000 | &nbsp;&nbsp; 688142 |
| &nbsp;&nbsp; Vistra Corp. Series C (5 Year Treasury Constant <br> Maturity+5.05%)144Aʊ±<br>| 8.88 | &nbsp;&nbsp; 1-15-2029 | 800000 | &nbsp;&nbsp; 881176 |
| Vistra Operations Co. LLC144A | 7.75 | &nbsp;&nbsp; 10-15-2031 | 1005000 | &nbsp;&nbsp; 1062044 |
|  |  |  |  | &nbsp;&nbsp; **10314371** |
| **Total corporate bonds and notes (Cost $180,891,370)** |  |  |  | &nbsp;&nbsp; **184619875** |
| **Loans: 4.51%** |  |  |  |  |
| **Communications: 0.74%** |  |  |  |  |
| **Media: 0.54%** |  |  |  |  |
| DIRECTV Financing LLC (U.S. SOFR 3 Month+5.25%)± | 9.18 | &nbsp;&nbsp; 8-2-2029 | 910110 | &nbsp;&nbsp; 909828 |
| EW Scripps Co. (U.S. SOFR 1 Month+5.75%)± | 9.53 | &nbsp;&nbsp; 6-30-2028 | 348440 | &nbsp;&nbsp; 351053 |
|  |  |  |  | &nbsp;&nbsp; **1260881** |
| **Telecommunications: 0.20%** |  |  |  |  |
| Connect Finco Sarl (U.S. SOFR 1 Month+4.50%)± | 8.17 | &nbsp;&nbsp; 9-27-2029 | 477570 | &nbsp;&nbsp; **476600** |
| **Consumer, cyclical: 1.15%** |  |  |  |  |
| **Airlines: 0.29%** |  |  |  |  |
| Vista Management Holding, Inc. (U.S. SOFR 3 Month+3.75%)± | 7.41 | &nbsp;&nbsp; 4-1-2031 | 691550 | &nbsp;&nbsp; **691986** |

---

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

Allspring High Yield Bond Fund \| 9

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Housewares: 0.39%** |  |  |  |  |
| American Greetings Corp. (U.S. SOFR 1 Month+5.75%)± | 9.42<br> %<br>| &nbsp;&nbsp; 10-30-2029 | $920926 | &nbsp;&nbsp; **$918624** |
| **Retail: 0.47%** |  |  |  |  |
| Michaels Cos., Inc. (U.S. SOFR 3 Month+4.25%)± | 8.18 | &nbsp;&nbsp; 4-17-2028 | 478747 | &nbsp;&nbsp; 477751 |
| Petco Health & Wellness Co., Inc. (U.S. SOFR 1 Month+4.25%)± | 8.04 | &nbsp;&nbsp; 2-3-2031 | 650000 | &nbsp;&nbsp; 623188 |
|  |  |  |  | &nbsp;&nbsp; **1100939** |
| **Consumer, non-cyclical: 0.77%** |  |  |  |  |
| **Commercial services: 0.25%** |  |  |  |  |
| Hertz Corp. (U.S. SOFR 1 Month+3.50%)± | 7.29 | &nbsp;&nbsp; 6-30-2028 | 768281 | &nbsp;&nbsp; **590509** |
| **Healthcare-products: 0.20%** |  |  |  |  |
| Bausch & Lomb Corp. (U.S. SOFR 1 Month+3.75%)± | 7.42 | &nbsp;&nbsp; 1-15-2031 | 457700 | &nbsp;&nbsp; **457471** |
| **Healthcare-services: 0.32%** |  |  |  |  |
| Modivcare Buyer LLC (U.S. SOFR 3 Month+5.00%)± | 8.69 | &nbsp;&nbsp; 12-30-2032 | 698759 | &nbsp;&nbsp; 642858 |
| MPH Acquisition Holdings LLC (U.S. SOFR 3 Month+3.75%)± | 7.42 | &nbsp;&nbsp; 12-31-2030 | 108451 | &nbsp;&nbsp; 106770 |
|  |  |  |  | &nbsp;&nbsp; **749628** |
| **Energy: 0.44%** |  |  |  |  |
| **Pipelines: 0.44%** |  |  |  |  |
| &nbsp;&nbsp; Crescent Midstream Intermediate Holdings LLC (U.S. SOFR 3 <br> Month+3.75%)±<br>| 7.42 | &nbsp;&nbsp; 2-18-2033 | 585000 | &nbsp;&nbsp; 586463 |
| Prairie Acquiror LP (U.S. SOFR 1 Month+3.25%)± | 6.92 | &nbsp;&nbsp; 8-1-2029 | 442170 | &nbsp;&nbsp; 442280 |
|  |  |  |  | &nbsp;&nbsp; **1028743** |
| **Financial: 0.18%** |  |  |  |  |
| **Insurance: 0.18%** |  |  |  |  |
| Asurion LLC (U.S. SOFR 1 Month+4.25%)± | 7.92 | &nbsp;&nbsp; 9-19-2030 | 424525 | &nbsp;&nbsp; **423145** |
| **Industrial: 0.86%** |  |  |  |  |
| **Machinery-diversified: 0.34%** |  |  |  |  |
| TK Elevator Midco GmbH (U.S. SOFR 1 Month+2.75%)± | 6.48 | &nbsp;&nbsp; 4-30-2030 | 800000 | &nbsp;&nbsp; **800000** |
| **Packaging & containers: 0.52%** |  |  |  |  |
| &nbsp;&nbsp; Mauser Packaging Solutions Holding Co. (U.S. SOFR 3 <br> Month+3.50%)±<br>| 7.16 | &nbsp;&nbsp; 4-15-2030 | 595000 | &nbsp;&nbsp; 584867 |
| Owens-Illinois, Inc. (U.S. SOFR 1 Month+3.00%)± | 6.67 | &nbsp;&nbsp; 9-30-2032 | 625000 | &nbsp;&nbsp; 625000 |
|  |  |  |  | &nbsp;&nbsp; **1209867** |
| **Technology: 0.37%** |  |  |  |  |
| **Computers: 0.25%** |  |  |  |  |
| McAfee Corp. (U.S. SOFR 1 Month+3.00%)± | 6.67 | &nbsp;&nbsp; 3-1-2029 | 673200 | &nbsp;&nbsp; **584001** |
| **Software: 0.12%** |  |  |  |  |
| Rocket Software, Inc. (U.S. SOFR 1 Month+3.75%)± | 7.42 | &nbsp;&nbsp; 11-28-2028 | 299685 | &nbsp;&nbsp; **278084** |
| **Total loans (Cost $10,820,905)** |  |  |  | &nbsp;&nbsp; **10570478** |

---

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

10 \| Allspring High Yield Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Yankee corporate bonds and notes: 14.08%** |  |  |  |  |
| **Communications: 4.42%** |  |  |  |  |
| **Internet: 0.73%** |  |  |  |  |
| Rakuten Group, Inc.144A | 9.75<br> %<br>| &nbsp;&nbsp; 4-15-2029 | $1545000 | &nbsp;&nbsp; **$1713655** |
| **Media: 1.22%** |  |  |  |  |
| Virgin Media Finance PLC144A | 5.00 | &nbsp;&nbsp; 7-15-2030 | 550000 | &nbsp;&nbsp; 460810 |
| Virgin Media Secured Finance PLC144A | 4.50 | &nbsp;&nbsp; 8-15-2030 | 1610000 | &nbsp;&nbsp; 1467608 |
| VZ Secured Financing BV144A | 5.00 | &nbsp;&nbsp; 1-15-2032 | 1050000 | &nbsp;&nbsp; 933119 |
|  |  |  |  | &nbsp;&nbsp; **2861537** |
| **Telecommunications: 2.47%** |  |  |  |  |
| &nbsp;&nbsp; Rogers Communications, Inc. (5 Year Treasury Constant <br> Maturity+2.62%)±<br>| 7.13 | &nbsp;&nbsp; 4-15-2055 | 2050000 | &nbsp;&nbsp; 2171095 |
| Telecom Italia Capital SA | 7.20 | &nbsp;&nbsp; 7-18-2036 | 930000 | &nbsp;&nbsp; 1030413 |
| TELUS Corp. (5 Year Treasury Constant Maturity+2.52%)± | 6.63 | &nbsp;&nbsp; 6-9-2056 | 225000 | &nbsp;&nbsp; 226819 |
| TELUS Corp. (5 Year Treasury Constant Maturity+2.77%)± | 6.63 | &nbsp;&nbsp; 10-15-2055 | 1085000 | &nbsp;&nbsp; 1120391 |
| Zegona Finance PLC144A | 8.63 | &nbsp;&nbsp; 7-15-2029 | 1169000 | &nbsp;&nbsp; 1234411 |
|  |  |  |  | &nbsp;&nbsp; **5783129** |
| **Consumer, cyclical: 2.18%** |  |  |  |  |
| **Airlines: 0.87%** |  |  |  |  |
| Latam Airlines Group SA144A | 7.63 | &nbsp;&nbsp; 1-7-2031 | 605000 | &nbsp;&nbsp; 633556 |
| Latam Airlines Group SA144A | 7.88 | &nbsp;&nbsp; 4-15-2030 | 835000 | &nbsp;&nbsp; 870446 |
| VistaJet Malta Finance PLC/Vista Management Holding, Inc.144A | 6.38 | &nbsp;&nbsp; 2-1-2030 | 575000 | &nbsp;&nbsp; 534914 |
|  |  |  |  | &nbsp;&nbsp; **2038916** |
| **Auto manufacturers: 0.37%** |  |  |  |  |
| Nissan Motor Co. Ltd.144A | 8.13 | &nbsp;&nbsp; 7-17-2035 | 795000 | &nbsp;&nbsp; **868137** |
| **Entertainment: 0.27%** |  |  |  |  |
| Banijay Entertainment SASU144A | 8.13 | &nbsp;&nbsp; 5-1-2029 | 600000 | &nbsp;&nbsp; **621099** |
| **Leisure time: 0.67%** |  |  |  |  |
| Carnival Corp.144A | 5.75 | &nbsp;&nbsp; 8-1-2032 | 350000 | &nbsp;&nbsp; 363230 |
| Carnival Corp.144A | 6.13 | &nbsp;&nbsp; 2-15-2033 | 1175000 | &nbsp;&nbsp; 1216426 |
|  |  |  |  | &nbsp;&nbsp; **1579656** |
| **Consumer, non-cyclical: 2.72%** |  |  |  |  |
| **Cosmetics/Personal Care: 0.96%** |  |  |  |  |
| Opal Bidco SAS144A | 6.50 | &nbsp;&nbsp; 3-31-2032 | 925000 | &nbsp;&nbsp; 952743 |
| Perrigo Finance Unlimited Co. | 6.13 | &nbsp;&nbsp; 9-30-2032 | 1325000 | &nbsp;&nbsp; 1296480 |
|  |  |  |  | &nbsp;&nbsp; **2249223** |
| **Food: 0.25%** |  |  |  |  |
| Froneri Lux Finco Sarl144A | 6.00 | &nbsp;&nbsp; 8-1-2032 | 590000 | &nbsp;&nbsp; **593279** |
| **Healthcare-products: 0.47%** |  |  |  |  |
| Bausch & Lomb Corp.144A | 8.38 | &nbsp;&nbsp; 10-1-2028 | 1060000 | &nbsp;&nbsp; **1098425** |

---

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

Allspring High Yield Bond Fund \| 11

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Pharmaceuticals: 1.04%** |  |  |  |  |
| 1261229 BC Ltd.144A | 10.00<br> %<br>| &nbsp;&nbsp; 4-15-2032 | $1985000 | &nbsp;&nbsp; $2052753 |
| Bausch Health Cos., Inc.144A | 6.25 | &nbsp;&nbsp; 2-15-2029 | 485000 | &nbsp;&nbsp; 383150 |
|  |  |  |  | &nbsp;&nbsp; **2435903** |
| **Energy: 0.34%** |  |  |  |  |
| **Oil & gas: 0.34%** |  |  |  |  |
| Borr IHC Ltd./Borr Finance LLC144A | 10.00 | &nbsp;&nbsp; 11-15-2028 | 396951 | &nbsp;&nbsp; 413452 |
| Saturn Oil & Gas, Inc.144A | 9.63 | &nbsp;&nbsp; 6-15-2029 | 377000 | &nbsp;&nbsp; 387640 |
|  |  |  |  | &nbsp;&nbsp; **801092** |
| **Financial: 3.13%** |  |  |  |  |
| **Banks: 2.10%** |  |  |  |  |
| &nbsp;&nbsp; Banco del Estado de Chile (5 Year Treasury Constant <br> Maturity+3.23%)144Aʊ±<br>| 7.95 | &nbsp;&nbsp; 5-2-2029 | 735000 | &nbsp;&nbsp; 787185 |
| BNP Paribas SA (5 Year Treasury Constant Maturity+2.85%)144Aʊ± | 6.88 | &nbsp;&nbsp; 12-15-2033 | 790000 | &nbsp;&nbsp; 794170 |
| BNP Paribas SA (5 Year Treasury Constant Maturity+3.73%)144Aʊ± | 8.00 | &nbsp;&nbsp; 8-22-2031 | 965000 | &nbsp;&nbsp; 1053997 |
| UBS Group AG (5 Year Treasury Constant Maturity+3.40%)144Aʊ± | 4.88 | &nbsp;&nbsp; 2-12-2027 | 670000 | &nbsp;&nbsp; 667204 |
| &nbsp;&nbsp; UBS Group AG (USD SOFR ICE Swap Rate 11:00am NY 5 <br> Year+3.24%)144Aʊ±<br>| 6.63 | &nbsp;&nbsp; 1-8-2031 | 1180000 | &nbsp;&nbsp; 1182223 |
| &nbsp;&nbsp; UBS Group AG (USD SOFR ICE Swap Rate 11:00am NY 5 <br> Year+4.16%)144Aʊ±<br>| 7.75 | &nbsp;&nbsp; 4-12-2031 | 400000 | &nbsp;&nbsp; 428874 |
|  |  |  |  | &nbsp;&nbsp; **4913653** |
| **Diversified financial services: 1.03%** |  |  |  |  |
| Global Aircraft Leasing Co. Ltd.144A | 8.75 | &nbsp;&nbsp; 9-1-2027 | 1270000 | &nbsp;&nbsp; 1309055 |
| goeasy Ltd.144A | 7.63 | &nbsp;&nbsp; 7-1-2029 | 1185000 | &nbsp;&nbsp; 1110909 |
|  |  |  |  | &nbsp;&nbsp; **2419964** |
| **Industrial: 0.73%** |  |  |  |  |
| **Packaging & containers: 0.73%** |  |  |  |  |
| Trivium Packaging Finance BV144A | 8.25 | &nbsp;&nbsp; 7-15-2030 | 711000 | &nbsp;&nbsp; 761698 |
| Trivium Packaging Finance BV144A | 12.25 | &nbsp;&nbsp; 1-15-2031 | 875000 | &nbsp;&nbsp; 963427 |
|  |  |  |  | &nbsp;&nbsp; **1725125** |
| **Technology: 0.26%** |  |  |  |  |
| **Semiconductors: 0.26%** |  |  |  |  |
| Kioxia Holdings Corp.144A | 6.63 | &nbsp;&nbsp; 7-24-2033 | 580000 | &nbsp;&nbsp; **611239** |
| **Utilities: 0.30%** |  |  |  |  |
| **Electric: 0.30%** |  |  |  |  |
| &nbsp;&nbsp; Algonquin Power & Utilities Corp. (5 Year Treasury Constant <br> Maturity+3.25%)±<br>| 4.75 | &nbsp;&nbsp; 1-18-2082 | 700000 | &nbsp;&nbsp; **694239** |
| **Total yankee corporate bonds and notes (Cost $32,142,950)** |  |  |  | &nbsp;&nbsp; **33008271** |

---

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

12 \| Allspring High Yield Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | Yield | Shares | Value |
| **Short-term investments: 1.57%** |  |  |  |  |
| **Investment companies: 1.57%** |  |  |  |  |
| Allspring Government Money Market Fund Select Class♠∞## |  | 3.62<br> %<br>| 3671987 | &nbsp;&nbsp; **$3671987** |
| **Total short-term investments (Cost $3,671,987)** |  |  |  | &nbsp;&nbsp; **3671987** |
| **Total investments in securities (Cost $228,971,699)** | 100.05<br> %<br>|  |  | &nbsp;&nbsp; 234473071 |
| Other assets and liabilities, net | (0.05)<br>|  |  | &nbsp;&nbsp; (115386)<br>|
| **Total net assets** | **100.00%**<br>|  |  | &nbsp;&nbsp; **$234357685** |

---

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

---

| |
|:---|
| 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 |
| Restricted security as to resale, excluding Rule 144A securities. The Fund held a restricted security with current value of $1,371,729 (original cost of $450,230), <br> representing 0.59% of its net assets as of period end.<br>|
| The security is purchased on a when-issued basis. |
| Variable rate investment. The rate shown is the rate in effect at period end. |
| ¥A payment-in-kind (PIK) security is a security in which the issuer may make interest or dividend payments in cash or additional securities or a combination of both. <br> The rate shown is the rate in effect at period end.<br>|
| The security is fair valued in accordance with procedures approved by Allspring Funds Management, LLC. |
| Security is perpetual in nature and has no stated maturity date. The date shown reflects the next call date. |
| The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
| The rate represents the 7-day annualized yield at period end. |
| All or a portion of this security is segregated as collateral for when-issued securities. |

---

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

Abbreviations: <br> REIT Real estate investment trust <br> SOFR Secured Overnight Financing Rate

**Investments in affiliates**

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| Allspring Government Money Market Fund Select <br> Class<br>| $952419 | $41816887 | $(39097319)<br>| $0 | $0 | $3671987 | 3671987 | $76994 |

---

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

Allspring High Yield Bond Fund \| 13

------

Statement of assets and liabilities—February 28, 2026 (unaudited)

Financial statements

Statement of assets and liabilities

---

| | |
|:---|:---|
| Assets |  |
| Investments in unaffiliated securities, at value (cost $225,299,712) | $230801084 |
| Investments in affiliated securities, at value (cost $3,671,987) | 3671987 |
| Cash | 240 |
| Receivable for interest | 4090598 |
| Receivable for investments sold | 1684821 |
| Receivable for Fund shares sold | 5506 |
| Prepaid expenses and other assets | 54525 |
| **Total assets** | **240308761** |
| Liabilities |  |
| Payable for investments purchased | 5291191 |
| Payable for Fund shares redeemed | 347290 |
| Dividends payable | 117814 |
| Management fee payable | 74709 |
| Shareholder servicing fees payable | 31738 |
| Administration fees payable | 23907 |
| Trustees' fees and expenses payable | 271 |
| Accrued expenses and other liabilities | 64156 |
| **Total liabilities** | **5951076** |
| **Total net assets**  | **$234357685** |
| Net assets consist of |  |
| Paid-in capital | $313308063 |
| Total distributable loss | (78950378)<br>|
| **Total net assets** | **$234357685** |
| Computation of net asset value and offering price per share |  |
| Net assets–Class A | $158579934 |
| Shares outstanding–Class A<sup>1</sup> <br>| 52222956 |
| Net asset value per share–Class A | $3.04 |
| Maximum offering price per share – Class A<sup>2</sup> <br>| $3.18 |
| Net assets–Institutional Class | $75777751 |
| Shares outstanding–Institutional Class<sup>1</sup> <br>| 24926205 |
| Net asset value per share–Institutional Class | $3.04 |

---

<sup>1</sup> The Fund has an unlimited number of authorized shares.

<sup>2</sup> Maximum offering price is computed as 100/95.50 of net asset value. On investments of $50,000 or more, the offering price is reduced.

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

14 \| Allspring High Yield Bond Fund

------

Statement of operations—six months ended February 28, 2026 (unaudited)

Statement of operations

---

| | |
|:---|:---|
| Investment income |  |
| Interest | $8578094 |
| Income from affiliated securities | 76994 |
| **Total investment income** | **8655088** |
| Expenses |  |
| Management fee | 651344 |
| Administration fees |  |
| Class A | 120201 |
| Class C | 596 <br><sup>1</sup><br>|
| Administrator Class | 438 <br><sup>2</sup><br>|
| Institutional Class | 29934 |
| Shareholder servicing fees |  |
| Class A | 200062 |
| Class C | 987 <br><sup>1</sup><br>|
| Administrator Class | 1096 <br><sup>2</sup><br>|
| Distribution fee |  |
| Class C | 2961 <br><sup>1</sup><br>|
| Custody and accounting fees | 7240 |
| Professional fees | 33751 |
| Registration fees | 46877 |
| Shareholder report expenses | 18859 |
| Trustees' fees and expenses | 4226 |
| Other fees and expenses | 10362 |
| **Total expenses** | **1128934** |
| Less: Fee waivers and/or expense reimbursements |  |
| Fund-level | (156436)<br>|
| Class A | (46815)<br>|
| Institutional Class | (27307)<br>|
| **Net expenses** | **898376** |
| **Net investment income** | **7756712** |
| Realized and unrealized gains (losses) on investments |  |
| **Net realized losses on investments**  | **(1188450)**<br>|
| **Net change in unrealized gains (losses) on investments** | **(292698)**<br>|
| **Net realized and unrealized gains (losses) on investments** | **(1481148)**<br>|
| **Net increase in net assets resulting from operations** | **$6275564** |

---

<sup>1</sup> For the period from September 1, 2025 to November 14, 2025. Effective at the close of business on November 14, 2025, Class C shares were converted to Class A shares and are no longer offered by the Fund.

<sup>2</sup> For the period from September 1, 2025 to September 12, 2025. Effective at the close of business on September 12, 2025, Administrator Class shares were converted to Institutional Class shares and are no longer offered by the Fund.

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

Allspring High Yield Bond Fund \| 15

------

Statement of changes in net assets

Statement of changes in net assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six months ended<br> February 28, 2026<br> (unaudited) | Six months ended<br> February 28, 2026<br> (unaudited) | Year ended<br> August 31, 2025 | Year ended<br> August 31, 2025 |
| Operations |  |  |  |  |
| Net investment income |  | &nbsp;&nbsp; $7756712 |  | &nbsp;&nbsp; $18154147 |
| Net realized losses on investments |  | &nbsp;&nbsp; (1188450)<br>|  | &nbsp;&nbsp; (1748931)<br>|
| Net change in unrealized gains (losses) on investments |  | &nbsp;&nbsp; (292698)<br>|  | &nbsp;&nbsp; 2863432 |
| **Net increase in net assets resulting from operations** |  | &nbsp;&nbsp; **6275564** |  | &nbsp;&nbsp; **19268648** |
| Distributions to shareholders from |  |  |  |  |
| Net investment income and net realized gains |  |  |  |  |
| Class A |  | &nbsp;&nbsp; (5192200)<br>|  | &nbsp;&nbsp; (11135759)<br>|
| Class C |  | &nbsp;&nbsp; (22490 )<sup>1</sup><br>|  | &nbsp;&nbsp; (107905)<br>|
| Administrator Class |  | &nbsp;&nbsp; (29181 )<sup>2</sup><br>|  | &nbsp;&nbsp; (850817)<br>|
| Institutional Class |  | &nbsp;&nbsp; (2548648)<br>|  | &nbsp;&nbsp; (6262361)<br>|
| **Total distributions to shareholders** |  | &nbsp;&nbsp; **(7792519)**<br>|  | &nbsp;&nbsp; **(18356842)**<br>|
| Capital share transactions | Shares |  | &nbsp;&nbsp; Shares |  |
| Proceeds from shares sold |  |  |  |  |
| Class A | 2240636 | &nbsp;&nbsp; 6837532 | &nbsp;&nbsp; 3661423 | &nbsp;&nbsp; 11061218 |
| Class C | 19481 <br><sup>1</sup><br>| &nbsp;&nbsp; 60000 <br><sup>1</sup><br>| &nbsp;&nbsp; 270122 | &nbsp;&nbsp; 822127 |
| Administrator Class | 481 <br><sup>2</sup><br>| &nbsp;&nbsp; 1475 <br><sup>2</sup><br>| &nbsp;&nbsp; 120880 | &nbsp;&nbsp; 367357 |
| Institutional Class | 625060 | &nbsp;&nbsp; 1905913 | &nbsp;&nbsp; 3166584 | &nbsp;&nbsp; 9582564 |
|  |  | &nbsp;&nbsp; 8804920 |  | &nbsp;&nbsp; 21833266 |
| Reinvestment of distributions |  |  |  |  |
| Class A | 1575440 | &nbsp;&nbsp; 4805236 | &nbsp;&nbsp; 3365340 | &nbsp;&nbsp; 10198651 |
| Class C | 5915 <br><sup>1</sup><br>| &nbsp;&nbsp; 18131 <br><sup>1</sup><br>| &nbsp;&nbsp; 35368 | &nbsp;&nbsp; 107502 |
| Administrator Class | 0 <br><sup>2</sup><br>| &nbsp;&nbsp; 0 <br><sup>2</sup><br>| &nbsp;&nbsp; 259408 | &nbsp;&nbsp; 786981 |
| Institutional Class | 819378 | &nbsp;&nbsp; 2500346 | &nbsp;&nbsp; 2047055 | &nbsp;&nbsp; 6208716 |
|  |  | &nbsp;&nbsp; 7323713 |  | &nbsp;&nbsp; 17301850 |
| Payment for shares redeemed |  |  |  |  |
| Class A | (5460853)<br>| &nbsp;&nbsp; (16641059)<br>| &nbsp;&nbsp; (10208451)<br>| &nbsp;&nbsp; (30885255)<br>|
| Class C | (43092 )<sup>1</sup><br>| &nbsp;&nbsp; (132232 )<sup>1</sup><br>| &nbsp;&nbsp; (162288)<br>| &nbsp;&nbsp; (492273)<br>|
| Administrator Class | (9721 )<sup>2</sup><br>| &nbsp;&nbsp; (29786 )<sup>2</sup><br>| &nbsp;&nbsp; (546750)<br>| &nbsp;&nbsp; (1652503)<br>|
| Institutional Class | (1643840)<br>| &nbsp;&nbsp; (5019235)<br>| &nbsp;&nbsp; (16477716)<br>| &nbsp;&nbsp; (49849600)<br>|
|  |  | &nbsp;&nbsp; (21822312)<br>|  | &nbsp;&nbsp; (82879631)<br>|

---

<sup>1</sup> For the period from September 1, 2025 to November 14, 2025

<sup>2</sup> For the period from September 1, 2025 to September 12, 2025

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

16 \| Allspring High Yield Bond Fund

------

Statement of changes in net assets

Statement of changes in net assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six months ended<br> February 28, 2026<br> (unaudited) | Six months ended<br> February 28, 2026<br> (unaudited) | Year ended<br> August 31, 2025 | Year ended<br> August 31, 2025 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares |  | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares |  |
| Share conversions |  |  |  |  |
| Class A | 614549 | &nbsp;&nbsp; $1865280 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; $0 |
| Class C | (612411 )<sup>3</sup><br>| &nbsp;&nbsp; (1865280 )<sup>3</sup><br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| Administrator Class | (4012154 )<sup>4</sup><br>| &nbsp;&nbsp; (12328549 )<sup>4</sup><br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| Institutional Class | 4012416 | &nbsp;&nbsp; 12328549 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp; 0 |  | &nbsp;&nbsp; 0 |
| **Net decrease in net assets resulting from capital share transactions** |  | &nbsp;&nbsp; **(5693679)**<br>|  | &nbsp;&nbsp; **(43744515)**<br>|
| **Total decrease in net assets** |  | &nbsp;&nbsp; **(7210634)**<br>|  | &nbsp;&nbsp; **(42832709)**<br>|
| Net assets |  |  |  |  |
| **Beginning of period** |  | &nbsp;&nbsp; **241568319** |  | &nbsp;&nbsp; **284401028** |
| **End of period** |  | &nbsp;&nbsp; **$234357685** |  | &nbsp;&nbsp; **$241568319** |

---

<sup>3</sup> Effective at the close of business on November 14, 2025, Class C shares were converted to Class A shares and are no longer offered by the Fund.

<sup>4</sup> Effective at the close of business on September 12, 2025, Administrator Class shares were converted to Institutional Class shares and are no longer offered by the Fund.

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

Allspring High Yield Bond Fund \| 17

------

Financial highlights

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Class A | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$3.06** | &nbsp;&nbsp; **$3.04** | &nbsp;&nbsp; **$2.94** | &nbsp;&nbsp; **$2.92** | &nbsp;&nbsp; **$3.45** | &nbsp;&nbsp; **$3.33** |
| Net investment income | 0.10 <br><sup>1</sup><br>| 0.20 <br><sup>1</sup><br>| 0.20 <br><sup>1</sup><br>| 0.18 <br><sup>1</sup><br>| 0.13 | 0.11 |
| Net realized and unrealized gains (losses) on investments | (0.02)<br>| 0.02 | 0.10 | 0.02 | &nbsp;&nbsp; (0.53)<br>| 0.12 |
| Total from investment operations | 0.08 | 0.22 | 0.30 | 0.20 | &nbsp;&nbsp; (0.40)<br>| 0.23 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.10)<br>| &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.11)<br>|
| **Net asset value, end of period** | **$3.04** | &nbsp;&nbsp; **$3.06** | &nbsp;&nbsp; **$3.04** | &nbsp;&nbsp; **$2.94** | &nbsp;&nbsp; **$2.92** | &nbsp;&nbsp; **$3.45** |
| **Total return**<sup>2</sup> <br>| **2.58%**<br>| **7.63%**<br>| **10.66%**<br>| **7.17%**<br>| &nbsp;&nbsp; **(11.76)%**<br>| **7.07%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 1.05<br> %<br>| 1.05<br> %<br>| 1.02<br> %<br>| 1.03<br> %<br>| 1.01<br> %<br>| 1.01<br> %<br>|
| Net expenses | 0.86<br> %<br>| 0.89<br> %<br>| 0.92<br> %<br>| 0.93<br> %<br>| 0.92<br> %<br>| 0.92<br> %<br>|
| Net investment income | 6.41<br> %<br>| 6.68<br> %<br>| 6.67<br> %<br>| 6.13<br> %<br>| 4.08<br> %<br>| 3.29<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 21<br> %<br>| &nbsp;&nbsp; 62<br> %<br>| &nbsp;&nbsp; 65<br> %<br>| &nbsp;&nbsp; 53<br> %<br>| &nbsp;&nbsp; 138<br> %<br>| &nbsp;&nbsp; 49<br> %<br>|
| Net assets, end of period (000s omitted) | $158580 | &nbsp;&nbsp; $162735 | &nbsp;&nbsp; $171590 | &nbsp;&nbsp; $175674 | &nbsp;&nbsp; $186532 | &nbsp;&nbsp; $238817 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding

<sup>2</sup> Total return calculations do not include any sales charges. Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. 

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

18 \| Allspring High Yield Bond Fund

------

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Institutional Class | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$3.06** | &nbsp;&nbsp; **$3.04** | &nbsp;&nbsp; **$2.94** | &nbsp;&nbsp; **$2.92** | &nbsp;&nbsp; **$3.46** | &nbsp;&nbsp; **$3.34** |
| Net investment income | 0.10 <br><sup>1</sup><br>| 0.21 <br><sup>1</sup><br>| 0.21 <br><sup>1</sup><br>| 0.19 <br><sup>1</sup><br>| 0.14 | 0.12 |
| Net realized and unrealized gains (losses) on investments | (0.02)<br>| 0.02 | 0.10 | 0.02 | &nbsp;&nbsp; (0.54)<br>| 0.13 |
| Total from investment operations | 0.08 | 0.23 | 0.31 | 0.21 | &nbsp;&nbsp; (0.40)<br>| 0.25 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.10)<br>| &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (0.19)<br>| &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp; (0.13)<br>|
| **Net asset value, end of period** | **$3.04** | &nbsp;&nbsp; **$3.06** | &nbsp;&nbsp; **$3.04** | &nbsp;&nbsp; **$2.94** | &nbsp;&nbsp; **$2.92** | &nbsp;&nbsp; **$3.46** |
| **Total return**<sup>2</sup> <br>| **2.75%**<br>| **8.02%**<br>| **11.09%**<br>| **7.59%**<br>| &nbsp;&nbsp; **(11.68)%**<br>| **7.48%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.73<br> %<br>| 0.73<br> %<br>| 0.70<br> %<br>| 0.70<br> %<br>| 0.68<br> %<br>| 0.69<br> %<br>|
| Net expenses | 0.53<br> %<br>| 0.53<br> %<br>| 0.53<br> %<br>| 0.53<br> %<br>| 0.53<br> %<br>| 0.53<br> %<br>|
| Net investment income | 6.75<br> %<br>| 7.07<br> %<br>| 7.06<br> %<br>| 6.53<br> %<br>| 4.50<br> %<br>| 3.66<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 21<br> %<br>| &nbsp;&nbsp; 62<br> %<br>| &nbsp;&nbsp; 65<br> %<br>| &nbsp;&nbsp; 53<br> %<br>| &nbsp;&nbsp; 138<br> %<br>| &nbsp;&nbsp; 49<br> %<br>|
| Net assets, end of period (000s omitted) | $75778 | &nbsp;&nbsp; $64597 | &nbsp;&nbsp; $98576 | &nbsp;&nbsp; $100281 | &nbsp;&nbsp; $98975 | &nbsp;&nbsp; $120658 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding <br> <sup>2</sup> Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized.

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

Allspring High Yield Bond Fund \| 19

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Notes to financial statements (unaudited)

Notes to financial statements

1. ORGANIZATION

Allspring Funds Trust (the "Trust"), a Delaware statutory trust organized on March 10, 1999, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act"). As an investment company, the Trust follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services* – *Investment Companies*. These financial statements report on the Allspring High Yield Bond Fund (the "Fund") which is a diversified series of the Trust.

Effective at the close of business on September 12, 2025, Administrator Class shares were converted to Institutional Class shares in a tax-free conversion. Shareholders of Administrator Class received Institutional Class shares at a value equal to the value of their Administrator Class shares immediately prior to the conversion. Administrator Class shares are no longer offered by the Fund. Additionally, effective at the close of business on November 14, 2025, Class C shares were converted to Class A shares in a tax-free conversion. Shareholders of Class C received Class A shares at a value equal to the value of their Class C shares immediately prior to the conversion. Class C shares are no longer offered by the Fund.

2. SIGNIFICANT ACCOUNTING POLICIES

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

Securities valuation

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

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

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

Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.

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

Loans

The Fund may invest in direct debt instruments which are interests in amounts owed to lenders by corporate or other borrowers. The loans pay interest at rates which are periodically reset by reference to a base lending rate plus a spread. Investments in loans may be in the form of participations in loans or assignments of all or a portion of loans from third parties. When the Fund purchases participations, it generally has no rights to enforce compliance with the terms of the loan agreement with the borrower. As a result, the Fund assumes the credit risk of both the borrower and the lender that is selling the participation. When the Fund purchases assignments from lenders, it acquires direct rights against the borrower on the loan and may enforce compliance by the borrower with the terms of the loan agreement. Loans may include fully funded term loans or unfunded loan commitments, which are contractual obligations for future funding. Unfunded loan commitments represent the remaining obligation of the Fund to the borrower. At any point in time, up to the maturity date of the issue, the borrower may demand the unfunded portion. Unfunded amounts, if any, are marked to market and any unrealized gains or losses are recorded in the Statement of assets and liabilities.

Security transactions and income recognition

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

Interest income is accrued daily and bond discounts are accreted and premiums are amortized daily. To the extent debt obligations are placed on non-accrual status, any related interest income may be reduced by writing off interest receivables when the collection of all or a portion of interest has been determined to be doubtful based on consistently applied procedures and the fair value has decreased. If the issuer subsequently resumes interest payments or when the collectability of interest is reasonably assured, the debt obligation is removed from non-accrual status. Paydown gains and losses are included in interest income.

20 \| Allspring High Yield Bond Fund

------

Notes to financial statements (unaudited)

Income is recorded net of foreign taxes withheld where recovery of such taxes is not assured.

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

Distributions to shareholders

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

Federal and other taxes

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

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

As of February 28, 2026, the aggregate cost of all investments for federal income tax purposes was $229,202,896 and the unrealized gains (losses) consisted of:

---

| | |
|:---|:---|
| Gross unrealized gains | &nbsp;&nbsp; $7628480 |
| Gross unrealized losses | &nbsp;&nbsp; (2358305)<br>|
| **Net unrealized gains** | &nbsp;&nbsp; **$5270175** |

---

As of August 31, 2025, the Fund had capital loss carryforwards which consisted of $36,013,690 in short-term capital losses and $46,945,257 in long-term capital losses.

Class allocations

The separate classes of shares offered by the Fund differ principally in applicable sales charges, distribution, shareholder servicing, and administration fees. Class specific expenses are charged directly to that share class. Investment income, common fund-level expenses, and realized and unrealized gains (losses) on investments are allocated daily to each class of shares based on the relative proportion of net assets of each class.&nbsp;&nbsp;&nbsp;&nbsp;

3. FAIR VALUATION MEASUREMENTS

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

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

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

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

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

Allspring High Yield Bond Fund \| 21

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Notes to financial statements (unaudited)

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Asset-backed securities** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $699461 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $699461 |
| **Common stocks** |  |  |  |  |
| *Energy* | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1371729 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1371729 |
| *Health care* | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 531270 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 531270 |
| **Corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 184619875 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 184619875 |
| **Loans** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 10570478 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 10570478 |
| **Yankee corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 33008271 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 33008271 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 3671987 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 3671987 |
| **Total assets** | &nbsp;&nbsp; **$3671987** | &nbsp;&nbsp;&nbsp; **$230801084** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$234473071** |

---

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

At February 28, 2026, the Fund did not have any transfers into/out of Level 3.

4. TRANSACTIONS WITH AFFILIATES

Management fee

Allspring Funds Management, a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P., is the manager of the Fund and provides advisory and fund-level administrative services under an investment management agreement. Under the investment management agreement, Allspring Funds Management is responsible for, among other services, implementing the investment objectives and strategies of the Fund, supervising the subadviser and providing fund-level administrative services in connection with the Fund's operations. As compensation for its services under the investment management agreement, Allspring Funds Management is entitled to receive a management fee, which is generally paid monthly, at the following annual rate based on the Fund's average daily net assets:

---

| | |
|:---|:---|
| Average daily net assets | Management fee |
| First $500 million | 0.550<br> %<br>|
| Next $500 million | 0.525 |
| Next $2 billion | 0.500 |
| Next $2 billion | 0.475 |
| Next $5 billion | 0.440 |
| Over $10 billion | 0.430 |

---

For the six months ended February 28, 2026, the management fee was equivalent to an annual rate of 0.55% of the Fund's average daily net assets.

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

Administration fees

Under a class-level administration agreement, Allspring Funds Management provides class-level administrative services to the Fund, which includes paying fees and expenses for services provided by the transfer agent, sub-transfer agents, omnibus account servicers and record-keepers. As compensation for its services under the class-level administration agreement, Allspring Funds Management receives an annual fee which is calculated based on the average daily net assets of each class and generally paid monthly, as follows:

---

| | |
|:---|:---|
|  | Class-level <br>administration fee<br>|
| Class A | 0.15<br> %<br>|
| Class C | 0.15 |
| Administrator Class | 0.10 |
| Institutional Class | 0.08 |

---

22 \| Allspring High Yield Bond Fund

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Notes to financial statements (unaudited)

Waivers and/or expense reimbursements

Allspring Funds Management has contractually committed to waive and/or reimburse management and administration fees to the extent necessary to maintain certain net operating expense ratios for the Fund. When each class of the Fund has exceeded its expense cap, Allspring Funds Management will waive fees and/or reimbursed expenses from fund-level expenses on a proportionate basis and then from class specific expenses. When only certain classes exceed their expense caps, waivers and/or reimbursements are applied against class specific expenses before fund-level expenses. Allspring Funds Management has contractually committed through December 31, 2026 to waive fees and/or reimburse expenses to the extent necessary to cap the Fund's expenses. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. As of February 28, 2026, the contractual caps are as follows:&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | EXPENSE RATIO CAPS |
| Class A | 0.92<br> %<br>|
| Institutional Class | 0.53 |

---

Distribution fee

The Trust has adopted a distribution plan for Class C shares pursuant to Rule 12b-1 under the 1940 Act. A distribution fee is charged to Class C shares and paid to Allspring Funds Distributor, LLC ("Allspring Funds Distributor"), the principal underwriter, an affiliate of Allspring Funds Management, at an annual rate up to 0.75% of the average daily net assets of Class C shares. Such fees are generally paid on a monthly basis.

In addition, Allspring Funds Distributor is entitled to receive the front-end sales charge from the purchase of Class A shares and a contingent deferred sales charge on the redemption of certain Class A shares. Allspring Funds Distributor is also entitled to receive the contingent deferred sales charges from redemptions of Class C shares. For the six months ended February 28, 2026, Allspring Funds Distributor received $1,231 from the sale of Class A shares and $15 in contingent deferred sales charges from redemptions of Class A shares. No contingent deferred sales charges were incurred by Class C shares for the six months ended February 28, 2026.

Shareholder servicing fees

The Trust has entered into contracts with one or more shareholder servicing agents, whereby Class A, Class C and Administrator Class are charged a fee at an annual rate up to 0.25% of the average daily net assets of each respective class. These fees are generally paid on a monthly basis. A portion of these total shareholder servicing fees were paid to affiliates of the Fund.

Interfund transactions

The Fund may purchase or sell portfolio investment securities to certain affiliates pursuant to Rule 17a-7 under the 1940 Act and under procedures adopted by the Board of Trustees. The procedures have been designed to ensure that these interfund transactions, which do not incur broker commissions, are effected at current market prices. Pursuant to these procedures, the Fund did not have any interfund transactions during the six months ended February 28, 2026.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments, excluding U.S. government obligations (if any) and short-term securities, for the six months ended February 28, 2026 were $48,452,690 and $48,233,146, respectively.

6. BANK BORROWINGS

The Fund, together with certain other registered Allspring Funds is party to a $275,000,000 revolving credit agreement whereby the Fund is permitted to use bank borrowings for temporary or emergency purposes, such as to fund shareholder redemption requests. Interest under the credit agreement is charged to the Fund based on a borrowing rate equal to the higher of the Federal Funds rate or the overnight bank funding rate in effect on that day plus a spread. In addition, an annual commitment fee based on the unused balance is allocated to each participating fund.

For the six months ended February 28, 2026, there were no borrowings by the Fund under the agreement.

7. INDEMNIFICATION

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

Allspring High Yield Bond Fund \| 23

------

Notes to financial statements (unaudited)

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

8. OPERATING SEGMENTS

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

9. NEW ACCOUNTING PRONOUNCEMENT

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

24 \| Allspring High Yield Bond Fund

------

Other information (unaudited)

Other information

Proxy voting information

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

Quarterly portfolio holdings information

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

Allspring High Yield Bond Fund \| 25

------

Other information (unaudited)

Item 8. Changes in and disagreements with accountants

Not applicable

Item 9. Matters submitted to fund shareholders for a vote

Not applicable

Item 10. Remuneration paid to directors, officers and others

Refer to information in the Statement of operations.

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

Not applicable

26 \| Allspring High Yield Bond Fund

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![](g132415img6170e05d1.jpg)

For more information

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

Allspring Funds

P.O. Box 219967

Kansas City, MO 64121-9967

Website: **allspringglobal.com**

Individual investors: **1-800-222-8222**

Retail investment professionals: **1-888-877-9275**

Institutional investment professionals: **1-800-260-5969**

![](g132415imga1deae5b2.gif)

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. If this report is used for promotional purposes, distribution of the report must be accompanied or preceded by a current prospectus. Before investing, please consider the investment objectives, risks, charges, and expenses of the investment. For a current prospectus and, if available, a summary prospectus, containing this information, call* ***1-800-222-8222*** *or visit the Fund's website at* ***allspringglobal.com****. Read the prospectus carefully before you invest or send money.*

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

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

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

**NCSRS4323 02-26**

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![](g132415imge28685e71.jpg)

Allspring Managed Account

Allspring Managed Account *CoreBuilder*® Shares – Series CP

Long Form Financial Statements

Semi-Annual Report

February 28, 2026

------

Contents

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

---

| | |
|:---|:---|
| **[Portfolio of investments](#xx_d15f9016-ddb3-47aa-81a9-653a5f4ecb30_POI-PageBlank-103_1)** | 2 |
| **[Item 7. Financial statements and financial highlights](#xx_d15f9016-ddb3-47aa-81a9-653a5f4ecb30_FS-PageBlank-103_1)** |  |
| [Statement of assets and liabilities](#xx_d15f9016-ddb3-47aa-81a9-653a5f4ecb30_FS-PageBlank-103_1) | 26 |
| [Statement of operations](#xx_d15f9016-ddb3-47aa-81a9-653a5f4ecb30_FS-PageBlank-103_2) | 27 |
| [Statement of changes in net assets](#xx_d15f9016-ddb3-47aa-81a9-653a5f4ecb30_FS-PageBlank-103_3) | 28 |
| [Financial highlights](#xx_d15f9016-ddb3-47aa-81a9-653a5f4ecb30_FIHI-PageBlank-103_1) | 29 |
| **[Notes to financial statements](#xx_d15f9016-ddb3-47aa-81a9-653a5f4ecb30_NTF-PageBlank-103_1)** | 30 |
| **[Other information](#xx_d15f9016-ddb3-47aa-81a9-653a5f4ecb30_OI-PageBlank-103_1)** | 38 |
| [Item 8. Changes in and disagreements with accountants](#xx_d15f9016-ddb3-47aa-81a9-653a5f4ecb30_OI-PageBlank-103_2) | 39 |
| [Item 9. Matters submitted to fund shareholders for a vote](#xx_d15f9016-ddb3-47aa-81a9-653a5f4ecb30_OI-PageBlank-103_2) | 39 |
| [Item 10. Remuneration paid to directors, officers and others](#xx_d15f9016-ddb3-47aa-81a9-653a5f4ecb30_OI-PageBlank-103_2) | 39 |
| [Item 11. Statement regarding basis for board](#xx_d15f9016-ddb3-47aa-81a9-653a5f4ecb30_OI-PageBlank-103_2)['](#xx_d15f9016-ddb3-47aa-81a9-653a5f4ecb30_OI-PageBlank-103_2)[s approval of investment](#xx_d15f9016-ddb3-47aa-81a9-653a5f4ecb30_OI-PageBlank-103_2)<br> [advisory contract](#xx_d15f9016-ddb3-47aa-81a9-653a5f4ecb30_OI-PageBlank-103_2)<br>| 39 |

---

Allspring Managed Account \| 1

------

Portfolio of investments—February 28, 2026 (unaudited)

Portfolio of investments

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest <br>rate<br>| Maturity <br>date<br>| Principal | Value |
| **Agency securities: 8.00%** |  |  |  |  |
| FHLB | 5.63<br> %<br>| &nbsp;&nbsp; 3-14-2036 | $500000 | &nbsp;&nbsp; $561051 |
| FNMA%% | 5.50 | &nbsp;&nbsp; 3-12-2056 | 6535000 | &nbsp;&nbsp; 6639774 |
| FNMA%% | 6.00 | &nbsp;&nbsp; 3-15-2055 | 32420000 | &nbsp;&nbsp; 33252814 |
| GNMA%% | 3.00 | &nbsp;&nbsp; 3-19-2056 | 2545000 | &nbsp;&nbsp; 2333965 |
| GNMA%% | 3.50 | &nbsp;&nbsp; 3-19-2056 | 1575000 | &nbsp;&nbsp; 1478020 |
| GNMA%% | 5.00 | &nbsp;&nbsp; 3-19-2056 | 5470000 | &nbsp;&nbsp; 5488558 |
| GNMA%% | 5.50 | &nbsp;&nbsp; 3-19-2056 | 40835000 | &nbsp;&nbsp; 41356113 |
| **Total agency securities (Cost $90,917,770)** |  |  |  | &nbsp;&nbsp; **91110295** |
| **Asset-backed securities: 20.52%** |  |  |  |  |
| ACHM Trust Series 2023-HE2 Class A144A±± | 7.50 | &nbsp;&nbsp; 10-25-2038 | 1247496 | &nbsp;&nbsp; 1314331 |
| ACHM Trust Series 2024-HE2 Class A144A | 5.35 | &nbsp;&nbsp; 10-25-2039 | 2503854 | &nbsp;&nbsp; 2543862 |
| ACHM Trust Series 2025-HE1 Class A144A±± | 5.92 | &nbsp;&nbsp; 3-25-2055 | 301077 | &nbsp;&nbsp; 309752 |
| &nbsp;&nbsp; ACREC LLC Series 2025-FL3 Class A (U.S. SOFR 1 <br> Month+1.31%)144A±<br>| 4.97 | &nbsp;&nbsp; 8-18-2042 | 1000000 | &nbsp;&nbsp; 998986 |
| &nbsp;&nbsp; Affirm Asset Securitization Trust Series 2024-B <br> Class A144A<br>| 4.62 | &nbsp;&nbsp; 9-15-2029 | 2000000 | &nbsp;&nbsp; 2005233 |
| ALLO Issuer LLC Series 2024-1A Class A2144A | 5.94 | &nbsp;&nbsp; 7-20-2054 | 1500000 | &nbsp;&nbsp; 1524415 |
| &nbsp;&nbsp; American Credit Acceptance Receivables Trust <br> Series 2024-4 Class B144A<br>| 4.80 | &nbsp;&nbsp; 11-13-2028 | 3440800 | &nbsp;&nbsp; 3443758 |
| &nbsp;&nbsp; AREIT Trust Series 2025-CRE11 Class A (U.S. SOFR 1 <br> Month+1.55%)144A±<br>| 5.21 | &nbsp;&nbsp; 7-25-2043 | 6160000 | &nbsp;&nbsp; 6170975 |
| &nbsp;&nbsp; Avis Budget Rental Car Funding AESOP LLC <br> Series 2023-6A Class A144A<br>| 5.81 | &nbsp;&nbsp; 12-20-2029 | 260000 | &nbsp;&nbsp; 271404 |
| &nbsp;&nbsp; Avis Budget Rental Car Funding AESOP LLC <br> Series 2025-4A Class A144A<br>| 4.40 | &nbsp;&nbsp; 2-20-2032 | 9245000 | &nbsp;&nbsp; 9319791 |
| &nbsp;&nbsp; BDS LLC Series 2025-FL14 Class A (U.S. SOFR 1 <br> Month+1.28%)144A±<br>| 4.95 | &nbsp;&nbsp; 10-17-2042 | 300000 | &nbsp;&nbsp; 300327 |
| BHG Securitization Trust Series 2021-A Class B144A | 2.79 | &nbsp;&nbsp; 11-17-2033 | 625000 | &nbsp;&nbsp; 612552 |
| BHG Securitization Trust Series 2025-1CON Class B144A | 5.26 | &nbsp;&nbsp; 4-17-2036 | 2990582 | &nbsp;&nbsp; 3038404 |
| Blue Bridge Funding LLC Series 2023-1A Class A144A | 7.37 | &nbsp;&nbsp; 11-15-2030 | 17549 | &nbsp;&nbsp; 17679 |
| Blue Bridge Funding LLC Series 2023-1A Class B144A | 9.48 | &nbsp;&nbsp; 11-15-2030 | 100000 | &nbsp;&nbsp; 102024 |
| &nbsp;&nbsp; Blue Owl Asset Leasing Trust LLC Series 2024-1A <br> Class C144A<br>| 6.38 | &nbsp;&nbsp; 1-15-2031 | 1700000 | &nbsp;&nbsp; 1731537 |
| Bojangles Issuer LLC Series 2024-1A Class A2144A | 6.58 | &nbsp;&nbsp; 11-20-2054 | 5472500 | &nbsp;&nbsp; 5548933 |
| Cajun Global LLC Series 2025-2A Class A2144A | 5.91 | &nbsp;&nbsp; 11-20-2055 | 2453850 | &nbsp;&nbsp; 2495008 |
| Camber Credit Auto Trust Series 2026-1A Class A144A♦ | 5.63 | &nbsp;&nbsp; 12-15-2031 | 5710000 | &nbsp;&nbsp; 5710000 |
| Carvana Auto Receivables Trust Series 2024-P2 Class A3 | 5.33 | &nbsp;&nbsp; 7-10-2029 | 965868 | &nbsp;&nbsp; 973955 |
| CCAS LLC Series 2024-1A Class A144A | 7.12 | &nbsp;&nbsp; 6-16-2031 | 3005000 | &nbsp;&nbsp; 3044228 |
| Centersquare Issuer LLC Series 2024-1A Class A2144A | 5.20 | &nbsp;&nbsp; 10-26-2054 | 1500000 | &nbsp;&nbsp; 1481875 |
| Centersquare Issuer LLC Series 2025-1A Class A2144A | 5.50 | &nbsp;&nbsp; 3-26-2055 | 3600000 | &nbsp;&nbsp; 3558383 |
| &nbsp;&nbsp; ClickLease Equipment Receivables Trust Series 2024-1 <br> Class C144A<br>| 8.40 | &nbsp;&nbsp; 2-15-2030 | 517048 | &nbsp;&nbsp; 523132 |
| Cloud Capital Holdco LP Series 2024-1A Class A2144A | 5.78 | &nbsp;&nbsp; 11-22-2049 | 500000 | &nbsp;&nbsp; 501919 |
| Cogent IPv4 LLC Series 2024-1A Class A2144A | 7.92 | &nbsp;&nbsp; 5-25-2054 | 6190000 | &nbsp;&nbsp; 6471537 |
| &nbsp;&nbsp; Crockett Partners Equipment Co. IIA LLC Series 2024-1C <br> Class A144A<br>| 6.05 | &nbsp;&nbsp; 1-20-2031 | 1566667 | &nbsp;&nbsp; 1600527 |

---

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

2 \| Allspring Managed Account

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp; CyrusOne Data Centers Issuer I LLC Series 2023-2A <br> Class A2144A<br>| 5.56<br> %<br>| &nbsp;&nbsp; 11-20-2048 | $1025000 | &nbsp;&nbsp; $1031179 |
| DataBank Issuer LLC Series 2024-1A Class A2144A | 5.30 | &nbsp;&nbsp; 1-26-2054 | 6620000 | &nbsp;&nbsp; 6635921 |
| DataBank Issuer LLC Series 2026-1A Class A2144A | 5.81 | &nbsp;&nbsp; 2-25-2056 | 675000 | &nbsp;&nbsp; 686176 |
| DB Master Finance LLC Series 2021-1A Class A23144A | 2.79 | &nbsp;&nbsp; 11-20-2051 | 292038 | &nbsp;&nbsp; 265402 |
| DI Issuer LLC Series 2024-1A Class A2144A | 5.81 | &nbsp;&nbsp; 9-15-2054 | 1000000 | &nbsp;&nbsp; 1008629 |
| Driven Brands Funding LLC Series 2021-1A Class A2144A | 2.79 | &nbsp;&nbsp; 10-20-2051 | 971456 | &nbsp;&nbsp; 924107 |
| &nbsp;&nbsp; Edgeconnex Data Centers Issuer LLC Series 2024-1 <br> Class A2144A<br>| 6.00 | &nbsp;&nbsp; 7-27-2054 | 1037268 | &nbsp;&nbsp; 1054529 |
| FIGRE Trust Series 2023-HE1 Class A144A | 5.85 | &nbsp;&nbsp; 3-25-2053 | 96328 | &nbsp;&nbsp; 97900 |
| FIGRE Trust Series 2023-HE3 Class A144A±± | 6.44 | &nbsp;&nbsp; 11-25-2053 | 260292 | &nbsp;&nbsp; 268188 |
| FIGRE Trust Series 2024-HE2 Class A144A±± | 6.38 | &nbsp;&nbsp; 5-25-2054 | 1257673 | &nbsp;&nbsp; 1293910 |
| FIGRE Trust Series 2024-HE5 Class A144A±± | 5.44 | &nbsp;&nbsp; 10-25-2054 | 3084014 | &nbsp;&nbsp; 3128819 |
| FIGRE Trust Series 2025-HE1 Class A144A±± | 5.83 | &nbsp;&nbsp; 1-25-2055 | 4241050 | &nbsp;&nbsp; 4316521 |
| First National Master Note Trust Series 2024-1 Class A | 5.34 | &nbsp;&nbsp; 5-15-2030 | 840000 | &nbsp;&nbsp; 854481 |
| Five Guys Holdings, Inc. Series 2023-1A Class A2144A | 7.55 | &nbsp;&nbsp; 1-26-2054 | 2034250 | &nbsp;&nbsp; 2092522 |
| Flexential Issuer LLC Series 2025-1A Class A2144A | 6.03 | &nbsp;&nbsp; 10-25-2060 | 5000000 | &nbsp;&nbsp; 5082070 |
| Flexential Issuer Series 2021-1A Class A2144A | 3.25 | &nbsp;&nbsp; 11-27-2051 | 2658286 | &nbsp;&nbsp; 2627858 |
| &nbsp;&nbsp; Ford Credit Floorplan Master Owner Trust A Series 2023-1 <br> Class B144A<br>| 5.31 | &nbsp;&nbsp; 5-15-2028 | 1335000 | &nbsp;&nbsp; 1338602 |
| FREED Mortgage Trust Series 2022-HE1 Class B144A±± | 7.00 | &nbsp;&nbsp; 10-25-2037 | 2105000 | &nbsp;&nbsp; 2207270 |
| &nbsp;&nbsp; FS Rialto Issuer LLC Series 2026-FL11 Class AS (U.S. SOFR <br> 1 Month+1.65%)144A±<br>| 5.30 | &nbsp;&nbsp; 1-19-2044 | 4750000 | &nbsp;&nbsp; 4766338 |
| &nbsp;&nbsp; Hertz Vehicle Financing III LLC Series 2023-4A <br> Class A144A<br>| 6.15 | &nbsp;&nbsp; 3-25-2030 | 3600000 | &nbsp;&nbsp; 3793716 |
| Hipgnosis Music Assets LP Series 2022-1 Class A144A | 5.00 | &nbsp;&nbsp; 5-16-2062 | 4150044 | &nbsp;&nbsp; 4146744 |
| &nbsp;&nbsp; Home Partners of America Trust Series 2021-1 <br> Class D144A<br>| 2.48 | &nbsp;&nbsp; 9-17-2041 | 389877 | &nbsp;&nbsp; 357972 |
| Hotwire Funding LLC Series 2021-1 Class A2144A | 2.31 | &nbsp;&nbsp; 11-20-2051 | 1050000 | &nbsp;&nbsp; 1033449 |
| &nbsp;&nbsp; Jack in the Box Funding LLC Series 2022-1A <br> Class A2II144A<br>| 4.14 | &nbsp;&nbsp; 2-26-2052 | 2576000 | &nbsp;&nbsp; 2290177 |
| Jimmy Johns Funding LLC Series 2017-1A Class A2II144A | 4.85 | &nbsp;&nbsp; 7-30-2047 | 158125 | &nbsp;&nbsp; 158191 |
| &nbsp;&nbsp; Lafayette Federal Credit Union Asset Trust Series 2026-<br> HI1A Class A2144A<br>| 5.38 | &nbsp;&nbsp; 1-25-2046 | 2425000 | &nbsp;&nbsp; 2444595 |
| &nbsp;&nbsp; Lendbuzz Securitization Trust Series 2024-3A <br> Class A2144A<br>| 4.97 | &nbsp;&nbsp; 10-15-2029 | 1110067 | &nbsp;&nbsp; 1110877 |
| &nbsp;&nbsp; Lyra Music Assets Delaware LP Series 2024-2A <br> Class A2144A<br>| 5.76 | &nbsp;&nbsp; 12-22-2064 | 8268033 | &nbsp;&nbsp; 8385617 |
| &nbsp;&nbsp; Mariner Finance Issuance Trust Series 2025-AA <br> Class A144A<br>| 4.98 | &nbsp;&nbsp; 5-20-2038 | 5000000 | &nbsp;&nbsp; 5087980 |
| &nbsp;&nbsp; MF1 Ltd. Series 2021-FL7 Class A (U.S. SOFR 1 <br> Month+1.19%)144A±<br>| 4.86 | &nbsp;&nbsp; 10-16-2036 | 70098 | &nbsp;&nbsp; 70057 |
| &nbsp;&nbsp; MF1 Ltd. Series 2021-FL7 Class E (U.S. SOFR 1 <br> Month+2.91%)144A±<br>| 6.58 | &nbsp;&nbsp; 10-16-2036 | 3300000 | &nbsp;&nbsp; 3230021 |
| &nbsp;&nbsp; MF1 Ltd. Series 2022-FL8 Class A (U.S. SOFR 1 <br> Month+1.35%)144A±<br>| 5.02 | &nbsp;&nbsp; 2-19-2037 | 219304 | &nbsp;&nbsp; 219232 |
| &nbsp;&nbsp; MF1 Ltd. Series 2022-FL8 Class C (U.S. SOFR 1 <br> Month+2.20%)144A±<br>| 5.87 | &nbsp;&nbsp; 2-19-2037 | 250000 | &nbsp;&nbsp; 249519 |
| MNR ABS Issuer I LLC‡ | 8.12 | &nbsp;&nbsp; 12-15-2038 | 207395 | &nbsp;&nbsp; 211543 |

---

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

Allspring Managed Account \| 3

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp; Monroe Capital ABS Funding II Ltd. Series 2023-1A <br> Class A1R144A<br>| 6.77<br> %<br>| &nbsp;&nbsp; 7-22-2034 | $555000 | &nbsp;&nbsp; $555959 |
| NBC Funding LLC Series 2024-1A Class A2144A | 6.75 | &nbsp;&nbsp; 7-30-2054 | 846450 | &nbsp;&nbsp; 871893 |
| Neighborly Issuer LLC Series 2021-1A Class A2144A | 3.58 | &nbsp;&nbsp; 4-30-2051 | 71438 | &nbsp;&nbsp; 68989 |
| Neighborly Issuer LLC Series 2023-1A Class A2144A | 7.31 | &nbsp;&nbsp; 1-30-2053 | 776000 | &nbsp;&nbsp; 784849 |
| &nbsp;&nbsp; New Economy Assets - Phase 1 Sponsor LLC <br> Series 2021-1 Class B1144A<br>| 2.41 | &nbsp;&nbsp; 10-20-2061 | 1250000 | &nbsp;&nbsp; 805173 |
| &nbsp;&nbsp; NextGear Floorplan Master Owner Trust Series 2024-2A <br> Class A2144A<br>| 4.42 | &nbsp;&nbsp; 9-15-2029 | 3600000 | &nbsp;&nbsp; 3631418 |
| NMEF Funding LLC Series 2025-A Class B144A | 5.18 | &nbsp;&nbsp; 7-15-2032 | 4215000 | &nbsp;&nbsp; 4279840 |
| NMEF Funding LLC Series 2026-A Class C144A | 4.71 | &nbsp;&nbsp; 2-15-2034 | 826000 | &nbsp;&nbsp; 831537 |
| &nbsp;&nbsp; Oak Street Investment Grade Net Lease Fund <br> Series 2021-1A Class A3144A<br>| 2.80 | &nbsp;&nbsp; 1-20-2051 | 247813 | &nbsp;&nbsp; 151487 |
| Oportun Issuance Trust Series 2025-C Class B144A | 4.93 | &nbsp;&nbsp; 7-8-2033 | 5486000 | &nbsp;&nbsp; 5499682 |
| OWN Equipment Fund I LLC Series 2024-2M Class A144A | 5.70 | &nbsp;&nbsp; 12-20-2032 | 1972092 | &nbsp;&nbsp; 2012328 |
| OWN Equipment Fund II LLC Series 2025-1M Class A144A | 5.48 | &nbsp;&nbsp; 9-26-2033 | 2718732 | &nbsp;&nbsp; 2759445 |
| &nbsp;&nbsp; Oxford Finance Credit Fund III LP Series 2024-A <br> Class A2144A<br>| 6.68 | &nbsp;&nbsp; 1-14-2032 | 324408 | &nbsp;&nbsp; 329521 |
| Pagaya AI Debt Trust Series 2025-4 Class A2144A | 5.37 | &nbsp;&nbsp; 1-17-2033 | 1499947 | &nbsp;&nbsp; 1510767 |
| PFS Financing Corp. Series 2024-B Class A144A | 4.95 | &nbsp;&nbsp; 2-15-2029 | 335000 | &nbsp;&nbsp; 338266 |
| &nbsp;&nbsp; RCKT Mortgage Trust Series 2023-CES3 <br> Class A1A144A±±<br>| 7.11 | &nbsp;&nbsp; 11-25-2043 | 1619735 | &nbsp;&nbsp; 1637598 |
| &nbsp;&nbsp; RCKT Mortgage Trust Series 2023-CES3 <br> Class A1B144A±±<br>| 7.46 | &nbsp;&nbsp; 11-25-2043 | 1551295 | &nbsp;&nbsp; 1570616 |
| &nbsp;&nbsp; RCKT Mortgage Trust Series 2024-CES2 <br> Class A1A144A±±<br>| 6.14 | &nbsp;&nbsp; 4-25-2044 | 325927 | &nbsp;&nbsp; 329297 |
| &nbsp;&nbsp; RCKT Mortgage Trust Series 2025-CES1 <br> Class A1A144A±±<br>| 5.65 | &nbsp;&nbsp; 1-25-2045 | 1455159 | &nbsp;&nbsp; 1472582 |
| &nbsp;&nbsp; Retained Vantage Data Centers Issuer LLC Series 2023-1A <br> Class A2A144A<br>| 5.00 | &nbsp;&nbsp; 9-15-2048 | 660000 | &nbsp;&nbsp; 661204 |
| &nbsp;&nbsp; Retained Vantage Data Centers Issuer LLC Series 2024-1A <br> Class A2144A<br>| 4.99 | &nbsp;&nbsp; 9-15-2049 | 2100000 | &nbsp;&nbsp; 2103517 |
| &nbsp;&nbsp; RR 5 Ltd. Series 2018-5A Class A1R (U.S. SOFR 3 <br> Month+1.50%)144A±<br>| 5.17 | &nbsp;&nbsp; 7-15-2039 | 2500000 | &nbsp;&nbsp; 2506240 |
| &nbsp;&nbsp; Sabey Data Center Issuer LLC Series 2026-1 <br> Class A2144A<br>| 5.48 | &nbsp;&nbsp; 1-20-2051 | 3185000 | &nbsp;&nbsp; 3234083 |
| &nbsp;&nbsp; Saluda Grade Alternative Mortgage Trust Series 2023-FIG3 <br> Class A144A±±<br>| 7.07 | &nbsp;&nbsp; 8-25-2053 | 989533 | &nbsp;&nbsp; 1032984 |
| &nbsp;&nbsp; Scalelogix ABS U.S. Issuer LLC Series 2025-1A <br> Class A2144A<br>| 5.67 | &nbsp;&nbsp; 7-25-2055 | 1350000 | &nbsp;&nbsp; 1366328 |
| SEB Funding LLC Series 2021-1A Class A2144A | 4.97 | &nbsp;&nbsp; 1-30-2052 | 3017437 | &nbsp;&nbsp; 3017422 |
| SEB Funding LLC Series 2024-1A Class A2144A | 7.39 | &nbsp;&nbsp; 4-30-2054 | 2580000 | &nbsp;&nbsp; 2652474 |
| Service Experts Issuer LLC Series 2021-1A Class B144A | 3.28 | &nbsp;&nbsp; 2-2-2032 | 330000 | &nbsp;&nbsp; 320647 |
| Service Experts Issuer LLC Series 2024-1A Class A144A | 6.39 | &nbsp;&nbsp; 11-20-2035 | 328813 | &nbsp;&nbsp; 337767 |
| Service Experts Issuer LLC Series 2025-1A Class A144A | 5.38 | &nbsp;&nbsp; 1-20-2037 | 1061004 | &nbsp;&nbsp; 1073017 |
| ServiceMaster Funding LLC Series 2020-1 Class A2II144A | 3.34 | &nbsp;&nbsp; 1-30-2051 | 117238 | &nbsp;&nbsp; 106262 |
| SESAC Finance LLC Series 2024-1 Class A2144A | 6.42 | &nbsp;&nbsp; 1-25-2054 | 441000 | &nbsp;&nbsp; 451221 |
| Sotheby's ArtFi Master Trust Series 2026-1A Class B144A | 4.90 | &nbsp;&nbsp; 6-20-2033 | 965000 | &nbsp;&nbsp; 969089 |
| Subway Funding LLC Series 2024-3A Class A2I144A | 5.25 | &nbsp;&nbsp; 7-30-2054 | 814687 | &nbsp;&nbsp; 812636 |

---

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

4 \| Allspring Managed Account

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| Subway Funding LLC Series 2024-3A Class A23144A | 5.91<br> %<br>| &nbsp;&nbsp; 7-30-2054 | $2765000 | &nbsp;&nbsp; $2764391 |
| Switch ABS Issuer LLC Series 2024-2A Class A2144A | 5.44 | &nbsp;&nbsp; 6-25-2054 | 2010000 | &nbsp;&nbsp; 2015911 |
| Switch ABS Issuer LLC Series 2025-2A Class A22144A | 5.37 | &nbsp;&nbsp; 10-25-2055 | 3920000 | &nbsp;&nbsp; 3956507 |
| Taco Bell Funding LLC Series 2021-1A Class A23144A | 2.54 | &nbsp;&nbsp; 8-25-2051 | 505987 | &nbsp;&nbsp; 452480 |
| TierPoint Issuer LLC Series 2025-1A Class A2144A | 6.15 | &nbsp;&nbsp; 4-26-2055 | 4000000 | &nbsp;&nbsp; 4080462 |
| &nbsp;&nbsp; Towd Point Mortgage Trust Series 2023-CES1 <br> Class A1A144A±±<br>| 6.75 | &nbsp;&nbsp; 7-25-2063 | 905744 | &nbsp;&nbsp; 908813 |
| &nbsp;&nbsp; Towd Point Mortgage Trust Series 2024-CES1 <br> Class A2144A±±<br>| 6.44 | &nbsp;&nbsp; 1-25-2064 | 1370000 | &nbsp;&nbsp; 1384177 |
| &nbsp;&nbsp; TRTX Issuer Ltd. Series 2022-FL5 Class A (U.S. SOFR 1 <br> Month+1.65%)144A±<br>| 5.31 | &nbsp;&nbsp; 2-15-2039 | 509594 | &nbsp;&nbsp; 507790 |
| &nbsp;&nbsp; TRTX Issuer Ltd. Series 2025-FL6 Class A (U.S. SOFR 1 <br> Month+1.54%)144A±<br>| 5.20 | &nbsp;&nbsp; 9-18-2042 | 2400000 | &nbsp;&nbsp; 2403158 |
| &nbsp;&nbsp; TRTX Issuer Ltd. Series 2025-FL7 Class A (U.S. SOFR 1 <br> Month+1.45%)144A±<br>| 5.11 | &nbsp;&nbsp; 6-18-2043 | 2795000 | &nbsp;&nbsp; 2794773 |
| TSC SPV Funding LLC Series 2024-1A Class A2144A | 6.29 | &nbsp;&nbsp; 8-20-2054 | 701125 | &nbsp;&nbsp; 721457 |
| Uniti Fiber ABS Issuer LLC Series 2025-1A Class A2144A | 5.88 | &nbsp;&nbsp; 4-20-2055 | 5395000 | &nbsp;&nbsp; 5541111 |
| Vital Care Issuer LLC Series 2025-1A Class A2144A | 6.74 | &nbsp;&nbsp; 1-30-2056 | 2985000 | &nbsp;&nbsp; 3040168 |
| Wendy's Funding LLC Series 2021-1A Class A2II144A | 2.78 | &nbsp;&nbsp; 6-15-2051 | 3097995 | &nbsp;&nbsp; 2826662 |
| &nbsp;&nbsp; Westlake Automobile Receivables Trust Series 2024-2A <br> Class A3144A<br>| 5.56 | &nbsp;&nbsp; 2-15-2028 | 557264 | &nbsp;&nbsp; 559017 |
| Wingstop Funding LLC Series 2024-1A Class A2144A | 5.86 | &nbsp;&nbsp; 12-5-2054 | 1200000 | &nbsp;&nbsp; 1246305 |
| Zaxby's Funding LLC Series 2021-1A Class A2144A | 3.24 | &nbsp;&nbsp; 7-30-2051 | 1590075 | &nbsp;&nbsp; 1524851 |
| Zayo Issuer LLC Series 2025-1A Class A2144A | 5.65 | &nbsp;&nbsp; 3-20-2055 | 4700000 | &nbsp;&nbsp; 4806612 |
| Zayo Issuer LLC Series 2025-2A Class A2144A | 5.95 | &nbsp;&nbsp; 6-20-2055 | 1500000 | &nbsp;&nbsp; 1547600 |
| Zayo Issuer LLC Series 2025-3A Class A2144A | 5.57 | &nbsp;&nbsp; 10-20-2055 | 2475000 | &nbsp;&nbsp; 2536019 |
| **Total asset-backed securities (Cost $231,698,860)** |  |  |  | &nbsp;&nbsp; **233789041** |

---

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

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Common stocks: 0.01%** |  |  |
| **Financials: 0.00%** |  |  |
| **Financial services: 0.00%** |  |  |
| Unifin Financiera SAB de CV♦† | 32517 | &nbsp;&nbsp; **0** |
| **Health care: 0.01%** |  |  |
| **Health care providers & services: 0.01%** |  |  |
| Modivcare Topco LLC† | 22387 | &nbsp;&nbsp; **125927** |
| **Total common stocks (Cost $74,488)** |  | &nbsp;&nbsp; **125927** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  |  | Principal |  |
| **Corporate bonds and notes: 20.08%** |  |  |  |  |
| **Basic materials: 0.43%** |  |  |  |  |
| **Chemicals: 0.40%** |  |  |  |  |
| Celanese U.S. Holdings LLC | 6.50 | &nbsp;&nbsp; 4-15-2030 | $2665000 | &nbsp;&nbsp; 2730996 |
| LYB International Finance III LLC | 5.88 | &nbsp;&nbsp; 1-15-2036 | 1720000 | &nbsp;&nbsp; 1738910 |
| Westlake Corp. | 1.63 | &nbsp;&nbsp; 7-17-2029 | 100000 | &nbsp;&nbsp; 112924 |
|  |  |  |  | &nbsp;&nbsp; **4582830** |

---

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

Allspring Managed Account \| 5

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Iron/steel: 0.03%** |  |  |  |  |
| Cleveland-Cliffs, Inc.144A | 4.88<br> %<br>| &nbsp;&nbsp; 3-1-2031 | $325000 | &nbsp;&nbsp; **$308340** |
| **Communications: 3.06%** |  |  |  |  |
| **Advertising: 0.03%** |  |  |  |  |
| &nbsp;&nbsp; Outfront Media Capital LLC/Outfront Media Capital <br> Corp.144A<br>| 4.63 | &nbsp;&nbsp; 3-15-2030 | 335000 | &nbsp;&nbsp; **328651** |
| **Internet: 0.90%** |  |  |  |  |
| Alphabet, Inc. | 5.65 | &nbsp;&nbsp; 2-15-2056 | 1595000 | &nbsp;&nbsp; 1632096 |
| Meta Platforms, Inc. | 4.88 | &nbsp;&nbsp; 11-15-2035 | 4000000 | &nbsp;&nbsp; 4039829 |
| Meta Platforms, Inc. | 5.63 | &nbsp;&nbsp; 11-15-2055 | 4000000 | &nbsp;&nbsp; 3915301 |
| Wayfair LLC144A | 6.75 | &nbsp;&nbsp; 11-15-2032 | 625000 | &nbsp;&nbsp; 636997 |
|  |  |  |  | &nbsp;&nbsp; **10224223** |
| **Media: 1.22%** |  |  |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp.144A | 4.25 | &nbsp;&nbsp; 1-15-2034 | 5895000 | &nbsp;&nbsp; 5135140 |
| CCO Holdings LLC/CCO Holdings Capital Corp.144A | 4.50 | &nbsp;&nbsp; 8-15-2030 | 820000 | &nbsp;&nbsp; 782139 |
| &nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 2.80 | &nbsp;&nbsp; 4-1-2031 | 4800000 | &nbsp;&nbsp; 4363289 |
| &nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 3.85 | &nbsp;&nbsp; 4-1-2061 | 1060000 | &nbsp;&nbsp; 640998 |
| &nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 3.90 | &nbsp;&nbsp; 6-1-2052 | 1410000 | &nbsp;&nbsp; 927825 |
| &nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 6.10 | &nbsp;&nbsp; 6-1-2029 | 590000 | &nbsp;&nbsp; 618367 |
| News Corp.144A | 3.88 | &nbsp;&nbsp; 5-15-2029 | 650000 | &nbsp;&nbsp; 634127 |
| Time Warner Cable LLC | 5.50 | &nbsp;&nbsp; 9-1-2041 | 935000 | &nbsp;&nbsp; 836339 |
|  |  |  |  | &nbsp;&nbsp; **13938224** |
| **Telecommunications: 0.91%** |  |  |  |  |
| AT&T, Inc. | 3.55 | &nbsp;&nbsp; 9-15-2055 | 1080000 | &nbsp;&nbsp; 731182 |
| AT&T, Inc. | 5.70 | &nbsp;&nbsp; 11-1-2054 | 1435000 | &nbsp;&nbsp; 1392282 |
| AT&T, Inc. | 6.00 | &nbsp;&nbsp; 4-30-2056 | 3000000 | &nbsp;&nbsp; 3025890 |
| Level 3 Financing, Inc.144A | 7.00 | &nbsp;&nbsp; 3-31-2034 | 2145000 | &nbsp;&nbsp; 2229823 |
| SV RNO Property Owner 1 LLC144A | 5.88 | &nbsp;&nbsp; 3-1-2031 | 1420000 | &nbsp;&nbsp; 1426361 |
| WULF Compute LLC144A | 7.75 | &nbsp;&nbsp; 10-15-2030 | 1430000 | &nbsp;&nbsp; 1514390 |
|  |  |  |  | &nbsp;&nbsp; **10319928** |
| **Consumer, cyclical: 3.06%** |  |  |  |  |
| **Airlines: 0.42%** |  |  |  |  |
| &nbsp;&nbsp; American Airlines Pass-Through Trust Series 2015-1 <br> Class A<br>| 3.38 | &nbsp;&nbsp; 5-1-2027 | 1476777 | &nbsp;&nbsp; 1460220 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd.144A | 5.50 | &nbsp;&nbsp; 4-20-2026 | 8333 | &nbsp;&nbsp; 8345 |
| Delta Air Lines, Inc./SkyMiles IP Ltd.144A | 4.75 | &nbsp;&nbsp; 10-20-2028 | 1906667 | &nbsp;&nbsp; 1923154 |
| Southwest Airlines Co. | 5.25 | &nbsp;&nbsp; 11-15-2035 | 430000 | &nbsp;&nbsp; 426483 |
| United Airlines Pass-Through Trust Series 2023-1 Class A | 5.80 | &nbsp;&nbsp; 1-15-2036 | 423442 | &nbsp;&nbsp; 449292 |
| United Airlines Pass-Through Trust Series 2024-1 Class A | 5.88 | &nbsp;&nbsp; 2-15-2037 | 469873 | &nbsp;&nbsp; 486068 |
|  |  |  |  | &nbsp;&nbsp; **4753562** |

---

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

6 \| Allspring Managed Account

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Apparel: 0.24%** |  |  |  |  |
| Beach Acquisition Bidco LLC144A | 5.25<br> %<br>| &nbsp;&nbsp; 7-15-2032 | $2300000 | &nbsp;&nbsp; **$2788041** |
| **Auto manufacturers: 0.89%** |  |  |  |  |
| Ford Motor Credit Co. LLC | 5.13 | &nbsp;&nbsp; 11-5-2026 | 2100000 | &nbsp;&nbsp; 2112122 |
| Ford Motor Credit Co. LLC | 5.87 | &nbsp;&nbsp; 10-31-2035 | 2610000 | &nbsp;&nbsp; 2618944 |
| Hyundai Capital America144A | 5.40 | &nbsp;&nbsp; 6-23-2032 | 3875000 | &nbsp;&nbsp; 4068292 |
| Hyundai Capital America144A | 5.80 | &nbsp;&nbsp; 4-1-2030 | 1010000 | &nbsp;&nbsp; 1066488 |
| Toyota Motor Credit Corp. | 3.85 | &nbsp;&nbsp; 7-24-2030 | 200000 | &nbsp;&nbsp; 245635 |
|  |  |  |  | &nbsp;&nbsp; **10111481** |
| **Auto parts & equipment: 0.14%** |  |  |  |  |
| Adient Global Holdings Ltd.144A | 7.50 | &nbsp;&nbsp; 2-15-2033 | 1470000 | &nbsp;&nbsp; **1542783** |
| **Entertainment: 0.29%** |  |  |  |  |
| Cinemark USA, Inc.144A | 5.25 | &nbsp;&nbsp; 7-15-2028 | 510000 | &nbsp;&nbsp; 510092 |
| Discovery Global Holdings, Inc. | 4.28 | &nbsp;&nbsp; 3-15-2032 | 3107000 | &nbsp;&nbsp; 2854556 |
|  |  |  |  | &nbsp;&nbsp; **3364648** |
| **Home builders: 0.41%** |  |  |  |  |
| Century Communities, Inc.144A | 6.63 | &nbsp;&nbsp; 9-15-2033 | 4165000 | &nbsp;&nbsp; 4232119 |
| LGI Homes, Inc.144A | 8.75 | &nbsp;&nbsp; 12-15-2028 | 130000 | &nbsp;&nbsp; 135637 |
| Taylor Morrison Communities, Inc.144A | 5.13 | &nbsp;&nbsp; 8-1-2030 | 290000 | &nbsp;&nbsp; 292527 |
|  |  |  |  | &nbsp;&nbsp; **4660283** |
| **Housewares: 0.02%** |  |  |  |  |
| Newell Brands, Inc. | 6.38 | &nbsp;&nbsp; 5-15-2030 | 249000 | &nbsp;&nbsp; **249764** |
| **Leisure time: 0.03%** |  |  |  |  |
| NCL Corp. Ltd.144A | 6.75 | &nbsp;&nbsp; 2-1-2032 | 330000 | &nbsp;&nbsp; **339846** |
| **Lodging: 0.12%** |  |  |  |  |
| Las Vegas Sands Corp. | 5.63 | &nbsp;&nbsp; 6-15-2028 | 655000 | &nbsp;&nbsp; 671053 |
| Las Vegas Sands Corp. | 6.20 | &nbsp;&nbsp; 8-15-2034 | 625000 | &nbsp;&nbsp; 659974 |
|  |  |  |  | &nbsp;&nbsp; **1331027** |
| **Retail: 0.31%** |  |  |  |  |
| Macy's Retail Holdings LLC144A | 5.88 | &nbsp;&nbsp; 3-15-2030 | 601000 | &nbsp;&nbsp; 603779 |
| Macy's Retail Holdings LLC144A | 6.13 | &nbsp;&nbsp; 3-15-2032 | 290000 | &nbsp;&nbsp; 292105 |
| PetSmart LLC/PetSmart Finance Corp.144A | 7.50 | &nbsp;&nbsp; 9-15-2032 | 2610000 | &nbsp;&nbsp; 2641007 |
|  |  |  |  | &nbsp;&nbsp; **3536891** |
| **Toys/games/hobbies: 0.19%** |  |  |  |  |
| Mattel, Inc. | 5.00 | &nbsp;&nbsp; 11-17-2030 | 680000 | &nbsp;&nbsp; 690440 |
| Mattel, Inc. | 5.45 | &nbsp;&nbsp; 11-1-2041 | 1590000 | &nbsp;&nbsp; 1504508 |
|  |  |  |  | &nbsp;&nbsp; **2194948** |

---

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

Allspring Managed Account \| 7

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Consumer, non-cyclical: 2.77%** |  |  |  |  |
| **Agriculture: 0.17%** |  |  |  |  |
| BAT Capital Corp. | 4.76<br> %<br>| &nbsp;&nbsp; 9-6-2049 | $25000 | &nbsp;&nbsp; $21546 |
| BAT Capital Corp. | 6.25 | &nbsp;&nbsp; 8-15-2055 | 1850000 | &nbsp;&nbsp; 1930962 |
|  |  |  |  | &nbsp;&nbsp; **1952508** |
| **Commercial services: 0.85%** |  |  |  |  |
| Block, Inc.144A | 6.00 | &nbsp;&nbsp; 8-15-2033 | 1350000 | &nbsp;&nbsp; 1371851 |
| GEO Group, Inc. | 8.63 | &nbsp;&nbsp; 4-15-2029 | 425000 | &nbsp;&nbsp; 442219 |
| GEO Group, Inc. | 10.25 | &nbsp;&nbsp; 4-15-2031 | 545000 | &nbsp;&nbsp; 585181 |
| Global Payments, Inc. | 4.88 | &nbsp;&nbsp; 11-15-2030 | 2575000 | &nbsp;&nbsp; 2571981 |
| Global Payments, Inc. | 4.88 | &nbsp;&nbsp; 3-17-2031 | 1000000 | &nbsp;&nbsp; 1237007 |
| Global Payments, Inc. | 5.20 | &nbsp;&nbsp; 11-15-2032 | 1165000 | &nbsp;&nbsp; 1171864 |
| Global Payments, Inc. | 5.95 | &nbsp;&nbsp; 8-15-2052 | 35000 | &nbsp;&nbsp; 33348 |
| Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc. | 5.50 | &nbsp;&nbsp; 5-15-2033 | 820000 | &nbsp;&nbsp; 959037 |
| Upbound Group, Inc.144A | 6.38 | &nbsp;&nbsp; 2-15-2029 | 1315000 | &nbsp;&nbsp; 1301767 |
|  |  |  |  | &nbsp;&nbsp; **9674255** |
| **Cosmetics/Personal Care: 0.30%** |  |  |  |  |
| &nbsp;&nbsp; Coty, Inc./HFC Prestige Products, Inc./HFC Prestige <br> International U.S. LLC144A<br>| 4.75 | &nbsp;&nbsp; 1-15-2029 | 2000000 | &nbsp;&nbsp; 1967107 |
| &nbsp;&nbsp; Coty, Inc./HFC Prestige Products, Inc./HFC Prestige <br> International U.S. LLC144A<br>| 5.60 | &nbsp;&nbsp; 1-15-2031 | 1420000 | &nbsp;&nbsp; 1424506 |
|  |  |  |  | &nbsp;&nbsp; **3391613** |
| **Food: 0.59%** |  |  |  |  |
| Kroger Co. | 5.50 | &nbsp;&nbsp; 9-15-2054 | 1870000 | &nbsp;&nbsp; 1807735 |
| Mars, Inc.144A | 5.20 | &nbsp;&nbsp; 3-1-2035 | 2875000 | &nbsp;&nbsp; 2976955 |
| Mars, Inc.144A | 5.70 | &nbsp;&nbsp; 5-1-2055 | 1975000 | &nbsp;&nbsp; 2002756 |
|  |  |  |  | &nbsp;&nbsp; **6787446** |
| **Healthcare-products: 0.68%** |  |  |  |  |
| Abbott Laboratories%% | 4.65 | &nbsp;&nbsp; 3-15-2036 | 2800000 | &nbsp;&nbsp; 2800844 |
| Abbott Laboratories%% | 5.50 | &nbsp;&nbsp; 3-15-2056 | 2155000 | &nbsp;&nbsp; 2162408 |
| Danaher Corp. | 2.50 | &nbsp;&nbsp; 3-30-2030 | 600000 | &nbsp;&nbsp; 701642 |
| Medline Borrower LP144A | 3.88 | &nbsp;&nbsp; 4-1-2029 | 2090000 | &nbsp;&nbsp; 2055539 |
|  |  |  |  | &nbsp;&nbsp; **7720433** |
| **Healthcare-services: 0.18%** |  |  |  |  |
| DaVita, Inc.144A | 6.75 | &nbsp;&nbsp; 7-15-2033 | 1945000 | &nbsp;&nbsp; **2019461** |
| **Energy: 1.05%** |  |  |  |  |
| **Energy-alternate sources: 0.01%** |  |  |  |  |
| TerraForm Power Operating LLC144A | 4.75 | &nbsp;&nbsp; 1-15-2030 | 195000 | &nbsp;&nbsp; **190638** |
| **Oil & gas: 0.01%** |  |  |  |  |
| APA Corp. | 5.35 | &nbsp;&nbsp; 7-1-2049 | 60000 | &nbsp;&nbsp; 52302 |
| Coterra Energy, Inc. | 5.90 | &nbsp;&nbsp; 2-15-2055 | 45000 | &nbsp;&nbsp; 44760 |
|  |  |  |  | &nbsp;&nbsp; **97062** |

---

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

8 \| Allspring Managed Account

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Oil & gas services: 0.08%** |  |  |  |  |
| Schlumberger Holdings Corp.144A | 4.85<br> %<br>| &nbsp;&nbsp; 5-15-2033 | $905000 | &nbsp;&nbsp; **$921139** |
| **Pipelines: 0.95%** |  |  |  |  |
| Energy Transfer LP | 6.20 | &nbsp;&nbsp; 4-1-2055 | 735000 | &nbsp;&nbsp; 734858 |
| &nbsp;&nbsp; Energy Transfer LP (5 Year Treasury Constant <br> Maturity+4.02%)±<br>| 8.00 | &nbsp;&nbsp; 5-15-2054 | 805000 | &nbsp;&nbsp; 863615 |
| Harvest Midstream I LP144A | 7.50 | &nbsp;&nbsp; 5-15-2032 | 110000 | &nbsp;&nbsp; 114178 |
| Kinetik Holdings LP144A | 6.63 | &nbsp;&nbsp; 12-15-2028 | 1000000 | &nbsp;&nbsp; 1030920 |
| MPLX LP | 5.30 | &nbsp;&nbsp; 4-1-2036 | 1975000 | &nbsp;&nbsp; 1992787 |
| Prairie Acquiror LP144A | 9.00 | &nbsp;&nbsp; 8-1-2029 | 710000 | &nbsp;&nbsp; 740874 |
| South Bow USA Infrastructure Holdings LLC | 5.03 | &nbsp;&nbsp; 10-1-2029 | 835000 | &nbsp;&nbsp; 853790 |
| &nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance <br> Corp.144A<br>| 6.00 | &nbsp;&nbsp; 12-31-2030 | 2290000 | &nbsp;&nbsp; 2320688 |
| Venture Global Calcasieu Pass LLC144A | 6.25 | &nbsp;&nbsp; 1-15-2030 | 100000 | &nbsp;&nbsp; 103263 |
| Venture Global LNG, Inc.144A | 9.50 | &nbsp;&nbsp; 2-1-2029 | 410000 | &nbsp;&nbsp; 439747 |
| &nbsp;&nbsp; Venture Global LNG, Inc. (5 Year Treasury Constant <br> Maturity+5.44%)144Aʊ±<br>| 9.00 | &nbsp;&nbsp; 9-30-2029 | 1840000 | &nbsp;&nbsp; 1609220 |
|  |  |  |  | &nbsp;&nbsp; **10803940** |
| **Financial: 5.96%** |  |  |  |  |
| **Banks: 1.20%** |  |  |  |  |
| &nbsp;&nbsp; Bank of America Corp. Series OO (5 Year Treasury <br> Constant Maturity+2.68%)ʊ±<br>| 6.63 | &nbsp;&nbsp; 5-1-2030 | 745000 | &nbsp;&nbsp; 779947 |
| &nbsp;&nbsp; Citigroup, Inc. Series HH (5 Year Treasury Constant <br> Maturity+3.00%)ʊ±<br>| 6.63 | &nbsp;&nbsp; 2-15-2031 | 4110000 | &nbsp;&nbsp; 4248841 |
| Morgan Stanley Private Bank NA (U.S. SOFR+0.76%)± | 4.21 | &nbsp;&nbsp; 2-8-2030 | 2750000 | &nbsp;&nbsp; 2763079 |
| &nbsp;&nbsp; Morgan Stanley (5 Year Treasury Constant <br> Maturity+1.17%)±<br>| 5.31 | &nbsp;&nbsp; 1-18-2041 | 1685000 | &nbsp;&nbsp; 1676438 |
| Morgan Stanley (U.S. SOFR+1.18%)± | 5.07 | &nbsp;&nbsp; 1-30-2037 | 2530000 | &nbsp;&nbsp; 2551566 |
| Wells Fargo & Co. (3 Month EURIBOR+1.85%)± | 1.74 | &nbsp;&nbsp; 5-4-2030 | 1500000 | &nbsp;&nbsp; 1713635 |
|  |  |  |  | &nbsp;&nbsp; **13733506** |
| **Diversified financial services: 1.35%** |  |  |  |  |
| Ares Finance Co. II LLC144A | 3.25 | &nbsp;&nbsp; 6-15-2030 | 1155000 | &nbsp;&nbsp; 1105944 |
| Capital One Financial Corp. (U.S. SOFR+1.51%)± | 5.40 | &nbsp;&nbsp; 1-30-2037 | 6400000 | &nbsp;&nbsp; 6458081 |
| Citadel Finance LLC144A | 5.15 | &nbsp;&nbsp; 2-14-2031 | 1100000 | &nbsp;&nbsp; 1095564 |
| Computershare U.S., Inc. | 1.13 | &nbsp;&nbsp; 10-7-2031 | 700000 | &nbsp;&nbsp; 730850 |
| Equitable America Global Funding144A | 4.95 | &nbsp;&nbsp; 6-9-2030 | 1930000 | &nbsp;&nbsp; 1971829 |
| Jefferies Financial Group, Inc. | 5.50 | &nbsp;&nbsp; 2-15-2036 | 2580000 | &nbsp;&nbsp; 2537417 |
| PRA Group, Inc.144A | 5.00 | &nbsp;&nbsp; 10-1-2029 | 555000 | &nbsp;&nbsp; 512297 |
| United Wholesale Mortgage LLC144A | 5.50 | &nbsp;&nbsp; 4-15-2029 | 215000 | &nbsp;&nbsp; 210858 |
| Western Union Co.%% | 4.75 | &nbsp;&nbsp; 6-15-2029 | 790000 | &nbsp;&nbsp; 791829 |
|  |  |  |  | &nbsp;&nbsp; **15414669** |
| **Insurance: 1.54%** |  |  |  |  |
| Athene Global Funding | 0.37 | &nbsp;&nbsp; 9-10-2026 | 100000 | &nbsp;&nbsp; 116477 |
| Athene Global Funding144A | 5.03 | &nbsp;&nbsp; 7-17-2030 | 1360000 | &nbsp;&nbsp; 1367752 |
| Athene Global Funding144A | 5.54 | &nbsp;&nbsp; 8-22-2035 | 1495000 | &nbsp;&nbsp; 1488837 |
| Cincinnati Financial Corp. | 6.13 | &nbsp;&nbsp; 11-1-2034 | 1260000 | &nbsp;&nbsp; 1361297 |

---

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

Allspring Managed Account \| 9

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Insurance**(continued) |  |  |  |  |
| Guardian Life Insurance Co. of America144A | 4.85<br> %<br>| &nbsp;&nbsp; 1-24-2077 | $210000 | &nbsp;&nbsp; $176670 |
| Loews Corp. | 4.94 | &nbsp;&nbsp; 4-1-2036 | 1465000 | &nbsp;&nbsp; 1461443 |
| MetLife, Inc. (5 Year Treasury Constant Maturity+1.82%)± | 5.85 | &nbsp;&nbsp; 3-15-2056 | 1695000 | &nbsp;&nbsp; 1683041 |
| Omnis Funding Trust144A | 6.72 | &nbsp;&nbsp; 5-15-2055 | 1235000 | &nbsp;&nbsp; 1287305 |
| &nbsp;&nbsp; PartnerRe Finance B LLC (5 Year Treasury Constant <br> Maturity+3.82%)±<br>| 4.50 | &nbsp;&nbsp; 10-1-2050 | 15000 | &nbsp;&nbsp; 14498 |
| Protective Life Corp.144A | 4.70 | &nbsp;&nbsp; 1-15-2031 | 2165000 | &nbsp;&nbsp; 2186016 |
| Protective Life Corp.144A | 5.35 | &nbsp;&nbsp; 12-15-2035 | 990000 | &nbsp;&nbsp; 1004559 |
| &nbsp;&nbsp; Prudential Financial, Inc. (5 Year Treasury Constant <br> Maturity+3.04%)±<br>| 3.70 | &nbsp;&nbsp; 10-1-2050 | 1605000 | &nbsp;&nbsp; 1493471 |
| &nbsp;&nbsp; Prudential Financial, Inc. (5 Year Treasury Constant <br> Maturity+3.16%)±<br>| 5.13 | &nbsp;&nbsp; 3-1-2052 | 30000 | &nbsp;&nbsp; 29481 |
| RGA Global Funding144A | 4.60 | &nbsp;&nbsp; 11-25-2030 | 1385000 | &nbsp;&nbsp; 1395564 |
| RGA Global Funding144A | 5.05 | &nbsp;&nbsp; 12-6-2031 | 1850000 | &nbsp;&nbsp; 1897552 |
| Transatlantic Holdings, Inc. | 8.00 | &nbsp;&nbsp; 11-30-2039 | 443000 | &nbsp;&nbsp; 554871 |
|  |  |  |  | &nbsp;&nbsp; **17518834** |
| **Investment Companies: 0.69%** |  |  |  |  |
| Ares Capital Corp. BDC | 5.10 | &nbsp;&nbsp; 1-15-2031 | 1305000 | &nbsp;&nbsp; 1273578 |
| Ares Capital Corp. BDC | 5.50 | &nbsp;&nbsp; 9-1-2030 | 2000000 | &nbsp;&nbsp; 1980175 |
| Ares Capital Corp. BDC | 5.88 | &nbsp;&nbsp; 3-1-2029 | 1000000 | &nbsp;&nbsp; 1018489 |
| Ares Strategic Income Fund BDC | 5.70 | &nbsp;&nbsp; 3-15-2028 | 1110000 | &nbsp;&nbsp; 1118725 |
| Blue Owl Capital Corp. BDC | 5.95 | &nbsp;&nbsp; 3-15-2029 | 2500000 | &nbsp;&nbsp; 2487165 |
|  |  |  |  | &nbsp;&nbsp; **7878132** |
| **Real estate: 0.09%** |  |  |  |  |
| CBRE Services, Inc. | 4.90 | &nbsp;&nbsp; 1-15-2033 | 965000 | &nbsp;&nbsp; **977142** |
| **REITs: 1.09%** |  |  |  |  |
| Blackstone Mortgage Trust, Inc.144A | 7.75 | &nbsp;&nbsp; 12-1-2029 | 435000 | &nbsp;&nbsp; 463681 |
| Essential Properties LP | 2.95 | &nbsp;&nbsp; 7-15-2031 | 62000 | &nbsp;&nbsp; 57225 |
| Essential Properties LP | 5.40 | &nbsp;&nbsp; 12-1-2035 | 2120000 | &nbsp;&nbsp; 2160779 |
| &nbsp;&nbsp; Iron Mountain Information Management Services, <br> Inc.144A<br>| 5.00 | &nbsp;&nbsp; 7-15-2032 | 4085000 | &nbsp;&nbsp; 3952443 |
| &nbsp;&nbsp; Ladder Capital Finance Holdings LLLP/Ladder Capital <br> Finance Corp.144A<br>| 7.00 | &nbsp;&nbsp; 7-15-2031 | 130000 | &nbsp;&nbsp; 137078 |
| Piedmont Operating Partnership LP | 5.63 | &nbsp;&nbsp; 1-15-2033 | 1600000 | &nbsp;&nbsp; 1607870 |
| Realty Income Corp. | 5.13 | &nbsp;&nbsp; 7-6-2034 | 1000000 | &nbsp;&nbsp; 1308559 |
| Vornado Realty LP | 5.75 | &nbsp;&nbsp; 2-1-2033 | 2705000 | &nbsp;&nbsp; 2744528 |
|  |  |  |  | &nbsp;&nbsp; **12432163** |
| **Industrial: 0.80%** |  |  |  |  |
| **Aerospace/defense: 0.01%** |  |  |  |  |
| Boeing Co. | 5.81 | &nbsp;&nbsp; 5-1-2050 | 60000 | &nbsp;&nbsp; **60242** |
| **Building materials: 0.06%** |  |  |  |  |
| Camelot Return Merger Sub, Inc.144A | 8.75 | &nbsp;&nbsp; 8-1-2028 | 965000 | &nbsp;&nbsp; **728586** |

---

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

10 \| Allspring Managed Account

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Electronics: 0.07%** |  |  |  |  |
| Sensata Technologies, Inc.144A | 6.63<br> %<br>| &nbsp;&nbsp; 7-15-2032 | $700000 | &nbsp;&nbsp; **$732752** |
| **Engineering & construction: 0.24%** |  |  |  |  |
| Jacobs Solutions, Inc.%% | 4.75 | &nbsp;&nbsp; 3-3-2031 | 1695000 | &nbsp;&nbsp; 1697580 |
| Jacobs Solutions, Inc.%% | 5.38 | &nbsp;&nbsp; 3-3-2036 | 1015000 | &nbsp;&nbsp; 1015171 |
|  |  |  |  | &nbsp;&nbsp; **2712751** |
| **Miscellaneous manufacturing: 0.04%** |  |  |  |  |
| Entegris, Inc.144A | 4.75 | &nbsp;&nbsp; 4-15-2029 | 490000 | &nbsp;&nbsp; **490407** |
| **Trucking & leasing: 0.38%** |  |  |  |  |
| FTAI Aviation Investors LLC144A | 7.00 | &nbsp;&nbsp; 6-15-2032 | 4165000 | &nbsp;&nbsp; **4372013** |
| **Technology: 0.84%** |  |  |  |  |
| **Computers: 0.07%** |  |  |  |  |
| Hewlett Packard Enterprise Co. | 5.60 | &nbsp;&nbsp; 10-15-2054 | 855000 | &nbsp;&nbsp; **786878** |
| **Semiconductors: 0.45%** |  |  |  |  |
| Foundry JV Holdco LLC144A | 6.20 | &nbsp;&nbsp; 1-25-2037 | 4735000 | &nbsp;&nbsp; **5070671** |
| **Software: 0.32%** |  |  |  |  |
| AthenaHealth Group, Inc.144A | 6.50 | &nbsp;&nbsp; 2-15-2030 | 365000 | &nbsp;&nbsp; 343197 |
| Cloud Software Group, Inc.144A | 8.25 | &nbsp;&nbsp; 6-30-2032 | 1740000 | &nbsp;&nbsp; 1741458 |
| Intuit, Inc. | 5.50 | &nbsp;&nbsp; 9-15-2053 | 1130000 | &nbsp;&nbsp; 1069467 |
| Rocket Software, Inc.144A | 9.00 | &nbsp;&nbsp; 11-28-2028 | 550000 | &nbsp;&nbsp; 536255 |
|  |  |  |  | &nbsp;&nbsp; **3690377** |
| **Utilities: 2.11%** |  |  |  |  |
| **Electric: 2.11%** |  |  |  |  |
| AES Corp. (5 Year Treasury Constant Maturity+3.20%)± | 7.60 | &nbsp;&nbsp; 1-15-2055 | 190000 | &nbsp;&nbsp; 190977 |
| Basin Electric Power Cooperative144A | 5.85 | &nbsp;&nbsp; 10-15-2055 | 680000 | &nbsp;&nbsp; 684411 |
| CenterPoint Energy Houston Electric LLC Series AR | 4.85 | &nbsp;&nbsp; 4-1-2036 | 905000 | &nbsp;&nbsp; 907798 |
| &nbsp;&nbsp; Dominion Energy, Inc. (5 Year Treasury Constant <br> Maturity+2.21%)±<br>| 6.63 | &nbsp;&nbsp; 5-15-2055 | 70000 | &nbsp;&nbsp; 72663 |
| Duke Energy Corp. | 3.10 | &nbsp;&nbsp; 6-15-2028 | 600000 | &nbsp;&nbsp; 715655 |
| Duke Energy Corp. | 3.85 | &nbsp;&nbsp; 6-15-2034 | 1300000 | &nbsp;&nbsp; 1556195 |
| Duke Energy Florida LLC | 4.85 | &nbsp;&nbsp; 12-1-2035 | 1400000 | &nbsp;&nbsp; 1410697 |
| &nbsp;&nbsp; Edison International (5 Year Treasury Constant <br> Maturity+3.86%)±<br>| 8.13 | &nbsp;&nbsp; 6-15-2053 | 905000 | &nbsp;&nbsp; 940734 |
| Entergy Louisiana LLC | 5.65 | &nbsp;&nbsp; 4-15-2056 | 895000 | &nbsp;&nbsp; 888037 |
| Entergy Mississippi LLC | 5.80 | &nbsp;&nbsp; 4-15-2055 | 450000 | &nbsp;&nbsp; 456264 |
| &nbsp;&nbsp; EUSHI Finance, Inc. (5 Year Treasury Constant <br> Maturity+3.14%)±<br>| 7.63 | &nbsp;&nbsp; 12-15-2054 | 2630000 | &nbsp;&nbsp; 2776452 |
| Evergy, Inc. (5 Year Treasury Constant Maturity+2.56%)± | 6.65 | &nbsp;&nbsp; 6-1-2055 | 75000 | &nbsp;&nbsp; 77221 |
| Niagara Mohawk Power Corp.144A | 6.00 | &nbsp;&nbsp; 7-3-2055 | 4720000 | &nbsp;&nbsp; 4819473 |
| NRG Energy, Inc.144A | 5.41 | &nbsp;&nbsp; 10-15-2035 | 940000 | &nbsp;&nbsp; 950025 |
| PacifiCorp | 5.80 | &nbsp;&nbsp; 1-15-2055 | 825000 | &nbsp;&nbsp; 785853 |
| PG&E Corp. | 5.25 | &nbsp;&nbsp; 7-1-2030 | 240000 | &nbsp;&nbsp; 240199 |
| PG&E Corp. (5 Year Treasury Constant Maturity+3.88%)± | 7.38 | &nbsp;&nbsp; 3-15-2055 | 4275000 | &nbsp;&nbsp; 4422500 |
| PSEG Power LLC144A | 5.75 | &nbsp;&nbsp; 5-15-2035 | 1595000 | &nbsp;&nbsp; 1670224 |

---

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

Allspring Managed Account \| 11

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Electric**(continued) |  |  |  |  |
| Sempra (5 Year Treasury Constant Maturity+2.35%)± | 6.63<br> %<br>| &nbsp;&nbsp; 4-1-2055 | $65000 | &nbsp;&nbsp; $66070 |
| Southern California Edison Co. | 5.75 | &nbsp;&nbsp; 4-15-2054 | 340000 | &nbsp;&nbsp; 327234 |
|  |  |  |  | &nbsp;&nbsp; **23958682** |
| **Gas: 0.00%** |  |  |  |  |
| Brooklyn Union Gas Co.144A | 6.39 | &nbsp;&nbsp; 9-15-2033 | 25000 | &nbsp;&nbsp; **27121** |
| **Total corporate bonds and notes (Cost $224,944,185)** |  |  |  | &nbsp;&nbsp; **228718891** |
| **Foreign corporate bonds and notes: 5.78%** |  |  |  |  |
| **Communications: 1.73%** |  |  |  |  |
| **Media: 0.26%** |  |  |  |  |
| Ziggo BV | 2.88 | &nbsp;&nbsp; 1-15-2030 | 2700000 | &nbsp;&nbsp; **3037757** |
| **Telecommunications: 1.47%** |  |  |  |  |
| British Telecommunications PLC | 3.13 | &nbsp;&nbsp; 2-11-2032 | 970000 | &nbsp;&nbsp; 1140379 |
| &nbsp;&nbsp; British Telecommunications PLC (UK Gilts 5 <br> Year+3.82%)±<br>| 8.38 | &nbsp;&nbsp; 12-20-2083 | 600000 | &nbsp;&nbsp; 871426 |
| Chorus Ltd. | 3.53 | &nbsp;&nbsp; 11-26-2032 | 2900000 | &nbsp;&nbsp; 3449506 |
| Chorus Ltd. | 3.63 | &nbsp;&nbsp; 9-7-2029 | 500000 | &nbsp;&nbsp; 604195 |
| Fibercop SpA | 1.63 | &nbsp;&nbsp; 1-18-2029 | 1710000 | &nbsp;&nbsp; 1935907 |
| Koninklijke KPN NV | 3.88 | &nbsp;&nbsp; 7-3-2031 | 400000 | &nbsp;&nbsp; 492392 |
| Lorca Telecom Bondco SA | 4.00 | &nbsp;&nbsp; 9-18-2027 | 134042 | &nbsp;&nbsp; 158533 |
| SES SA (EURIBOR ICE Swap Rate 11:00am+3.23%)± | 5.50 | &nbsp;&nbsp; 9-12-2054 | 1820000 | &nbsp;&nbsp; 2115920 |
| Telecom Italia SpA | 1.63 | &nbsp;&nbsp; 1-18-2029 | 300000 | &nbsp;&nbsp; 342365 |
| Telefonaktiebolaget LM Ericsson | 1.00 | &nbsp;&nbsp; 5-26-2029 | 250000 | &nbsp;&nbsp; 278663 |
| &nbsp;&nbsp; Telefonica Europe BV (EUR Swap Annual (vs. 6 Month <br> EURIBOR) 7 Year+3.35%)ʊ±<br>| 6.14 | &nbsp;&nbsp; 2-3-2030 | 1100000 | &nbsp;&nbsp; 1394627 |
| VMED O2 U.K. Financing I PLC | 5.63 | &nbsp;&nbsp; 4-15-2032 | 1810000 | &nbsp;&nbsp; 2076593 |
| &nbsp;&nbsp; Vodafone Group PLC (EUR Swap Annual (vs. 6 Month <br> EURIBOR) 5 Year+3.48%)±<br>| 3.00 | &nbsp;&nbsp; 8-27-2080 | 840000 | &nbsp;&nbsp; 963974 |
| Zegona Finance PLC144A | 6.75 | &nbsp;&nbsp; 7-15-2029 | 720000 | &nbsp;&nbsp; 890433 |
|  |  |  |  | &nbsp;&nbsp; **16714913** |
| **Consumer, cyclical: 0.76%** |  |  |  |  |
| **Auto manufacturers: 0.30%** |  |  |  |  |
| RCI Banque SA | 3.63 | &nbsp;&nbsp; 11-3-2032 | 2900000 | &nbsp;&nbsp; **3414721** |
| **Distribution/wholesale: 0.08%** |  |  |  |  |
| SIG PLC144A | 9.75 | &nbsp;&nbsp; 10-31-2029 | 800000 | &nbsp;&nbsp; **907434** |
| **Entertainment: 0.13%** |  |  |  |  |
| Allwyn Entertainment Financing U.K. PLC144A | 7.25 | &nbsp;&nbsp; 4-30-2030 | 720000 | &nbsp;&nbsp; 886261 |
| Motion Finco Sarl | 7.38 | &nbsp;&nbsp; 6-15-2030 | 300000 | &nbsp;&nbsp; 307324 |
| Universal Music Group NV | 4.00 | &nbsp;&nbsp; 6-13-2031 | 250000 | &nbsp;&nbsp; 306457 |
|  |  |  |  | &nbsp;&nbsp; **1500042** |
| **Leisure time: 0.09%** |  |  |  |  |
| TUI AG | 5.88 | &nbsp;&nbsp; 3-15-2029 | 900000 | &nbsp;&nbsp; **1096328** |

---

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

12 \| Allspring Managed Account

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Retail: 0.14%** |  |  |  |  |  |
| Dufry One BV | 4.50<br> %<br>| &nbsp;&nbsp; 5-23-2032 | EUR | 756000 | &nbsp;&nbsp; $922543 |
| Fressnapf Holding SE | 5.25 | &nbsp;&nbsp; 10-31-2031 | EUR | 556000 | &nbsp;&nbsp; 667011 |
|  |  |  |  |  | &nbsp;&nbsp; **1589554** |
| **Toys/games/hobbies: 0.02%** |  |  |  |  |  |
| Asmodee Group AB | 5.75 | &nbsp;&nbsp; 12-15-2029 | EUR | 160000 | &nbsp;&nbsp; **198414** |
| **Consumer, non-cyclical: 0.71%** |  |  |  |  |  |
| **Agriculture: 0.14%** |  |  |  |  |  |
| BAT International Finance PLC | 2.25 | &nbsp;&nbsp; 1-16-2030 | EUR | 1380000 | &nbsp;&nbsp; **1586280** |
| **Commercial services: 0.38%** |  |  |  |  |  |
| Amber Finco PLC | 6.63 | &nbsp;&nbsp; 7-15-2029 | EUR | 900000 | &nbsp;&nbsp; 1110013 |
| Nexi SpA | 2.13 | &nbsp;&nbsp; 4-30-2029 | EUR | 1000000 | &nbsp;&nbsp; 1141733 |
| Rentokil Initial Finance BV | 3.88 | &nbsp;&nbsp; 6-27-2027 | EUR | 1050000 | &nbsp;&nbsp; 1259083 |
| Transurban Finance Co. Pty. Ltd. | 4.23 | &nbsp;&nbsp; 4-26-2033 | EUR | 650000 | &nbsp;&nbsp; 810066 |
|  |  |  |  |  | &nbsp;&nbsp; **4320895** |
| **Food: 0.14%** |  |  |  |  |  |
| Iceland Bondco PLC | 10.88 | &nbsp;&nbsp; 12-15-2027 | GBP | 708000 | &nbsp;&nbsp; 1009206 |
| Market Bidco Finco PLC | 5.50 | &nbsp;&nbsp; 11-4-2027 | GBP | 400000 | &nbsp;&nbsp; 539216 |
|  |  |  |  |  | &nbsp;&nbsp; **1548422** |
| **Healthcare-services: 0.05%** |  |  |  |  |  |
| Eurofins Scientific SE (3 Month EURIBOR+4.24%)ʊ± | 6.75 | &nbsp;&nbsp; 4-24-2028 | EUR | 500000 | &nbsp;&nbsp; **626476** |
| **Energy: 0.26%** |  |  |  |  |  |
| **Oil & gas: 0.16%** |  |  |  |  |  |
| Aker BP ASA | 1.13 | &nbsp;&nbsp; 5-12-2029 | EUR | 250000 | &nbsp;&nbsp; 279169 |
| &nbsp;&nbsp; Repsol International Finance BV (EUR Swap Annual (vs. 6 <br> Month EURIBOR) 5 Year+2.77%)ʊ±<br>| 2.50 | &nbsp;&nbsp; 12-22-2026 | EUR | 550000 | &nbsp;&nbsp; 647067 |
| &nbsp;&nbsp; Wintershall Dea Finance 2 BV Series NC8 (EUR Swap <br> Annual (vs. 6 Month EURIBOR) 5 Year+3.32%)ʊ±<br>| 3.00 | &nbsp;&nbsp; 7-20-2028 | EUR | 800000 | &nbsp;&nbsp; 913677 |
|  |  |  |  |  | &nbsp;&nbsp; **1839913** |
| **Oil & gas services: 0.10%** |  |  |  |  |  |
| OEG Finance PLC | 7.25 | &nbsp;&nbsp; 9-27-2029 | EUR | 900000 | &nbsp;&nbsp; **1116689** |
| **Financial: 1.09%** |  |  |  |  |  |
| **Banks: 0.61%** |  |  |  |  |  |
| &nbsp;&nbsp; ABN AMRO Bank NV (EUR Swap Annual (vs. 6 Month <br> EURIBOR) 5 Year+3.90%)ʊ±<br>| 4.75 | &nbsp;&nbsp; 9-22-2027 | EUR | 1000000 | &nbsp;&nbsp; 1199324 |
| &nbsp;&nbsp; BAWAG Group AG (EURIBOR ICE Swap Rate <br> 11:00am+5.05%)ʊ±<br>| 7.25 | &nbsp;&nbsp; 9-18-2029 | EUR | 1000000 | &nbsp;&nbsp; 1268743 |
| &nbsp;&nbsp; CaixaBank SA (EUR Swap Annual (vs. 6 Month EURIBOR) 5 <br> Year+3.55%)±<br>| 6.25 | &nbsp;&nbsp; 2-23-2033 | EUR | 400000 | &nbsp;&nbsp; 498953 |
| &nbsp;&nbsp; Credit Agricole SA (EURIBOR ICE Swap Rate <br> 11:00am+4.44%)ʊ±<br>| 7.25 | &nbsp;&nbsp; 9-23-2028 | EUR | 200000 | &nbsp;&nbsp; 254635 |
| Deutsche Bank AG (3 Month EURIBOR+2.95%)± | 5.00 | &nbsp;&nbsp; 9-5-2030 | EUR | 500000 | &nbsp;&nbsp; 627134 |

---

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

Allspring Managed Account \| 13

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Banks**(continued) |  |  |  |  |  |
| &nbsp;&nbsp; KBC Group NV (EURIBOR ICE Swap Rate <br> 11:00am+4.93%)ʊ±<br>| 8.00<br> %<br>| &nbsp;&nbsp; 9-5-2028 | EUR | 800000 | &nbsp;&nbsp; $1038388 |
| &nbsp;&nbsp; Nykredit Realkredit AS (EUR Swap Annual (vs. 6 Month <br> EURIBOR) 5 Year+4.57%)ʊ±<br>| 4.13 | &nbsp;&nbsp; 4-15-2026 | EUR | 600000 | &nbsp;&nbsp; 710098 |
| &nbsp;&nbsp; Raiffeisen Bank International AG (EURIBOR ICE Swap Rate <br> 11:00am+5.20%)±<br>| 7.38 | &nbsp;&nbsp; 12-20-2032 | EUR | 300000 | &nbsp;&nbsp; 376037 |
| &nbsp;&nbsp; UBS Group AG (EURIBOR ICE Swap Rate <br> 11:00am+4.95%)±<br>| 7.75 | &nbsp;&nbsp; 3-1-2029 | EUR | 750000 | &nbsp;&nbsp; 971549 |
|  |  |  |  |  | &nbsp;&nbsp; **6944861** |
| **Insurance: 0.14%** |  |  |  |  |  |
| Assicurazioni Generali SpA | 2.43 | &nbsp;&nbsp; 7-14-2031 | EUR | 300000 | &nbsp;&nbsp; 340889 |
| AXA SA | 3.63 | &nbsp;&nbsp; 1-10-2033 | EUR | 1000000 | &nbsp;&nbsp; 1215497 |
|  |  |  |  |  | &nbsp;&nbsp; **1556386** |
| **Real estate: 0.34%** |  |  |  |  |  |
| Aroundtown SA | 3.50 | &nbsp;&nbsp; 5-13-2030 | EUR | 2300000 | &nbsp;&nbsp; 2715508 |
| &nbsp;&nbsp; Castellum AB (EUR Swap Annual (vs. 6 Month EURIBOR) 5 <br> Year+3.45%)ʊ±<br>| 3.13 | &nbsp;&nbsp; 12-2-2026 | EUR | 1000000 | &nbsp;&nbsp; 1172847 |
|  |  |  |  |  | &nbsp;&nbsp; **3888355** |
| **Government securities: 0.14%** |  |  |  |  |  |
| **Multi-national: 0.14%** |  |  |  |  |  |
| Banque Ouest Africaine de Developpement | 2.75 | &nbsp;&nbsp; 1-22-2033 | EUR | 1570000 | &nbsp;&nbsp; **1592869** |
| **Industrial: 0.26%** |  |  |  |  |  |
| **Engineering & construction: 0.21%** |  |  |  |  |  |
| Bouygues SA | 4.63 | &nbsp;&nbsp; 6-7-2032 | EUR | 500000 | &nbsp;&nbsp; 639828 |
| Infrastrutture Wireless Italiane SpA | 1.75 | &nbsp;&nbsp; 4-19-2031 | EUR | 1500000 | &nbsp;&nbsp; 1676483 |
|  |  |  |  |  | &nbsp;&nbsp; **2316311** |
| **Machinery-diversified: 0.05%** |  |  |  |  |  |
| John Deere Bank SA | 2.50 | &nbsp;&nbsp; 9-14-2026 | EUR | 500000 | &nbsp;&nbsp; **591657** |
| **Technology: 0.16%** |  |  |  |  |  |
| **Computers: 0.16%** |  |  |  |  |  |
| Almaviva-The Italian Innovation Co. SpA144A | 5.00 | &nbsp;&nbsp; 10-30-2030 | EUR | 1579000 | &nbsp;&nbsp; **1808946** |
| **Utilities: 0.67%** |  |  |  |  |  |
| **Electric: 0.34%** |  |  |  |  |  |
| Enel Finance International NVøø | 0.75 | &nbsp;&nbsp; 6-17-2030 | EUR | 1000000 | &nbsp;&nbsp; 1080868 |
| Energia Group Roi Financeco DAC144A | 6.88 | &nbsp;&nbsp; 7-31-2028 | EUR | 900000 | &nbsp;&nbsp; 1099513 |
| &nbsp;&nbsp; Iberdrola Finanzas SA (EURIBOR ICE Swap Rate <br> 11:00am+1.36%)ʊ±<br>| 3.75 | &nbsp;&nbsp; 8-5-2031 | EUR | 600000 | &nbsp;&nbsp; 705511 |
| Vattenfall AB (UK Gilts 5 Year+1.90%)± | 2.50 | &nbsp;&nbsp; 6-29-2083 | GBP | 800000 | &nbsp;&nbsp; 1024260 |
|  |  |  |  |  | &nbsp;&nbsp; **3910152** |

---

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

14 \| Allspring Managed Account

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Gas: 0.23%** |  |  |  |  |  |
| APA Infrastructure Ltd. | 2.00<br> %<br>| &nbsp;&nbsp; 7-15-2030 | EUR | 1200000 | &nbsp;&nbsp; $1358394 |
| Centrica PLC (UK Gilts 5 Year+2.51%)± | 6.50 | &nbsp;&nbsp; 5-21-2055 | GBP | 850000 | &nbsp;&nbsp; 1188459 |
|  |  |  |  |  | &nbsp;&nbsp; **2546853** |
| **Water: 0.10%** |  |  |  |  |  |
| &nbsp;&nbsp; Holding d'Infrastructures des Metiers de l'Environnement <br> SAS<br>| 4.88 | &nbsp;&nbsp; 10-24-2029 | EUR | 945000 | &nbsp;&nbsp; **1165372** |
| &nbsp;&nbsp; **Total foreign corporate bonds and notes (Cost** <br> **$61,417,914)**<br>|  |  |  |  | &nbsp;&nbsp; **65819600** |
| **Foreign government bonds: 9.45%** |  |  |  |  |  |
| **Australia: 1.24%** |  |  |  |  |  |
| Australia | 2.25 | &nbsp;&nbsp; 5-21-2028 | AUD | 8780000 | &nbsp;&nbsp; 5993295 |
| Australia | 2.75 | &nbsp;&nbsp; 11-21-2027 | AUD | 7900000 | &nbsp;&nbsp; 5488737 |
| New South Wales Treasury Corp. | 3.00 | &nbsp;&nbsp; 4-20-2029 | AUD | 3975000 | &nbsp;&nbsp; 2710933 |
|  |  |  |  |  | &nbsp;&nbsp; **14192965** |
| **Belgium: 0.50%** |  |  |  |  |  |
| Kingdom of Belgium144A | 3.40 | &nbsp;&nbsp; 6-22-2036 | EUR | 4685000 | &nbsp;&nbsp; **5652665** |
| **Brazil: 0.95%** |  |  |  |  |  |
| Brazil Notas do Tesouro Nacional | 10.00 | &nbsp;&nbsp; 1-1-2031 | BRL | 62000000 | &nbsp;&nbsp; **10828462** |
| **Chile: 0.23%** |  |  |  |  |  |
| Bonos de la Tesoreria de la Republica en pesos144A | 4.70 | &nbsp;&nbsp; 9-1-2030 | CLP | 2300000000 | &nbsp;&nbsp; **2678318** |
| **Colombia: 0.91%** |  |  |  |  |  |
| Colombia TES | 5.75 | &nbsp;&nbsp; 11-3-2027 | COP | 44250000000 | &nbsp;&nbsp; **10409226** |
| **Czech Republic: 0.50%** |  |  |  |  |  |
| Czech Republic | 5.00 | &nbsp;&nbsp; 9-30-2030 | CZK | 110890000 | &nbsp;&nbsp; **5717981** |
| **France: 0.96%** |  |  |  |  |  |
| French Republic144A | 2.70 | &nbsp;&nbsp; 2-25-2031 | EUR | 9190000 | &nbsp;&nbsp; **10938707** |
| **Luxembourg: 0.98%** |  |  |  |  |  |
| European Union | 2.63 | &nbsp;&nbsp; 7-4-2028 | EUR | 9320000 | &nbsp;&nbsp; **11128288** |
| **Mexico: 0.46%** |  |  |  |  |  |
| Mexico Bonos | 8.50 | &nbsp;&nbsp; 2-28-2030 | MXN | 87715000 | &nbsp;&nbsp; **5207130** |
| **Singapore: 0.50%** |  |  |  |  |  |
| Singapore | 2.88 | &nbsp;&nbsp; 9-1-2030 | SGD | 6790000 | &nbsp;&nbsp; **5679465** |
| **South Africa: 0.48%** |  |  |  |  |  |
| Republic of South Africa | 8.00 | &nbsp;&nbsp; 1-31-2030 | ZAR | 85000000 | &nbsp;&nbsp; **5491141** |
| **Sweden: 0.51%** |  |  |  |  |  |
| Sweden | 0.13 | &nbsp;&nbsp; 5-12-2031 | SEK | 57850000 | &nbsp;&nbsp; **5769467** |

---

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

Allspring Managed Account \| 15

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **United Kingdom: 1.23%** |  |  |  |  |  |
| U.K. Gilts | 3.75<br> %<br>| &nbsp;&nbsp; 3-7-2027 | GBP | 4180000 | &nbsp;&nbsp; $5645872 |
| U.K. Gilts | 4.38 | &nbsp;&nbsp; 3-7-2030 | GBP | 6050000 | &nbsp;&nbsp; 8362577 |
|  |  |  |  |  | &nbsp;&nbsp; **14008449** |
| **Total foreign government bonds (Cost $105,825,800)** |  |  |  |  | &nbsp;&nbsp; **107702264** |

---

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

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Investment companies: 1.19%** |  |  |
| **Exchange-traded funds: 1.19%** |  |  |
| State Street SPDR Portfolio High Yield Bond ETF | 142800 | &nbsp;&nbsp; 3384360 |
| Vanguard Intermediate-Term Corporate Bond ETF | 120757 | &nbsp;&nbsp; 10230533 |
| **Total investment companies (Cost $13,446,351)** |  | &nbsp;&nbsp; **13614893** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  |  | Principal |  |
| **Loans: 0.03%** |  |  |  |  |
| **Consumer, cyclical: 0.01%** |  |  |  |  |
| **Airlines: 0.01%** |  |  |  |  |
| &nbsp;&nbsp; Vista Management Holding, Inc. (U.S. SOFR 3 <br> Month+3.75%)±<br>| 7.41 | &nbsp;&nbsp; 4-1-2031 | $59400 | &nbsp;&nbsp; **59437** |
| **Consumer, non-cyclical: 0.01%** |  |  |  |  |
| **Healthcare-services: 0.01%** |  |  |  |  |
| Modivcare Buyer LLC (U.S. SOFR 3 Month+5.00%)± | 8.69 | &nbsp;&nbsp; 12-30-2032 | 165626 | &nbsp;&nbsp; **152376** |
| **Energy: 0.01%** |  |  |  |  |
| **Pipelines: 0.01%** |  |  |  |  |
| Prairie Acquiror LP (U.S. SOFR 1 Month+3.25%)± | 6.92 | &nbsp;&nbsp; 8-1-2029 | 98260 | &nbsp;&nbsp; **98285** |
| **Total loans (Cost $321,750)** |  |  |  | &nbsp;&nbsp; **310098** |
| **Non-agency mortgage-backed securities: 9.76%** |  |  |  |  |
| &nbsp;&nbsp; 1345 Trust Series 2025-AOA Class A (U.S. SOFR 1 <br> Month+1.60%)144A±<br>| 5.26 | &nbsp;&nbsp; 6-15-2042 | 2000000 | &nbsp;&nbsp; 2004198 |
| A&D Mortgage Trust Series 2024-NQM4 Class A1144A | 5.46 | &nbsp;&nbsp; 8-25-2069 | 1634319 | &nbsp;&nbsp; 1643147 |
| A&D Mortgage Trust Series 2025-NQM3 Class A1144A±± | 5.37 | &nbsp;&nbsp; 8-25-2070 | 2828047 | &nbsp;&nbsp; 2848522 |
| A&D Mortgage Trust Series 2026-NQM1 Class A1144A±± | 4.91 | &nbsp;&nbsp; 2-25-2071 | 1041242 | &nbsp;&nbsp; 1043097 |
| Ajax Mortgage Loan Trust Series 2021-E Class A1144A±± | 1.74 | &nbsp;&nbsp; 12-25-2060 | 1651942 | &nbsp;&nbsp; 1479129 |
| &nbsp;&nbsp; Angel Oak Mortgage Trust Series 2020-R1 <br> Class A1144A±±<br>| 0.99 | &nbsp;&nbsp; 4-25-2053 | 527986 | &nbsp;&nbsp; 509110 |
| &nbsp;&nbsp; Angel Oak Mortgage Trust Series 2024-10 <br> Class A1144A±±<br>| 5.35 | &nbsp;&nbsp; 10-25-2069 | 3310577 | &nbsp;&nbsp; 3331451 |
| Angel Oak Mortgage Trust Series 2024-8 Class A1144A±± | 5.34 | &nbsp;&nbsp; 5-27-2069 | 1550049 | &nbsp;&nbsp; 1558963 |
| BAHA Trust Series 2024-MAR Class B144A±± | 7.07 | &nbsp;&nbsp; 12-10-2041 | 3655000 | &nbsp;&nbsp; 3844612 |
| Bank Series 2022-BNK44 Class A5±± | 5.74 | &nbsp;&nbsp; 11-15-2055 | 3835000 | &nbsp;&nbsp; 4137956 |
| BBCMS Mortgage Trust Series 2024-5C25 Class AS±± | 6.36 | &nbsp;&nbsp; 3-15-2057 | 795000 | &nbsp;&nbsp; 838064 |
| BBCMS Mortgage Trust Series 2025-5C37 Class C±± | 6.00 | &nbsp;&nbsp; 9-15-2058 | 3490000 | &nbsp;&nbsp; 3589227 |
| Benchmark Mortgage Trust Series 2022-B33 Class A5±± | 3.46 | &nbsp;&nbsp; 3-15-2055 | 475000 | &nbsp;&nbsp; 450025 |
| &nbsp;&nbsp; BHMS Commercial Mortgage Trust Series 2025-ATLS <br> Class B (U.S. SOFR 1 Month+2.55%)144A±<br>| 6.21 | &nbsp;&nbsp; 8-15-2042 | 3140000 | &nbsp;&nbsp; 3149846 |

---

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

16 \| Allspring Managed Account

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities**(continued) |  |  |  |  |
| BMO Mortgage Trust Series 2024-C8 Class AS±± | 5.91<br> %<br>| &nbsp;&nbsp; 3-15-2057 | $1115000 | &nbsp;&nbsp; $1197472 |
| &nbsp;&nbsp; BOCA Commercial Mortgage Trust Series 2025-BOCA <br> Class C (U.S. SOFR 1 Month+2.15%)144A±<br>| 5.81 | &nbsp;&nbsp; 12-15-2042 | 995000 | &nbsp;&nbsp; 998284 |
| &nbsp;&nbsp; BRAVO Residential Funding Trust Series 2024-NQM1 <br> Class A1144A±±<br>| 5.94 | &nbsp;&nbsp; 12-1-2063 | 3786833 | &nbsp;&nbsp; 3812818 |
| &nbsp;&nbsp; Brean Asset-Backed Securities Trust Series 2025-RM13 <br> Class A1144A<br>| 4.25 | &nbsp;&nbsp; 10-25-2065 | 3495874 | &nbsp;&nbsp; 3433301 |
| BX Trust Series 2019-OC11 Class A144A | 3.20 | &nbsp;&nbsp; 12-9-2041 | 250000 | &nbsp;&nbsp; 240256 |
| BX Trust Series 2022-CLS Class C144A | 6.79 | &nbsp;&nbsp; 10-13-2027 | 585000 | &nbsp;&nbsp; 578121 |
| &nbsp;&nbsp; BX Trust Series 2024-BIO Class C (U.S. SOFR 1 <br> Month+2.64%)144A±<br>| 6.30 | &nbsp;&nbsp; 2-15-2041 | 750000 | &nbsp;&nbsp; 743672 |
| &nbsp;&nbsp; BX Trust Series 2025-DELC Class C (U.S. SOFR 1 <br> Month+2.20%)144A±<br>| 5.86 | &nbsp;&nbsp; 12-15-2042 | 4010000 | &nbsp;&nbsp; 4023235 |
| CHNGE Mortgage Trust Series 2022-2 Class A1144A±± | 4.76 | &nbsp;&nbsp; 3-25-2067 | 827061 | &nbsp;&nbsp; 825112 |
| CHNGE Mortgage Trust Series 2023-4 Class A1144A±± | 7.57 | &nbsp;&nbsp; 9-25-2058 | 134454 | &nbsp;&nbsp; 135426 |
| CSMC Trust Series 2014-USA Class A1144A | 3.30 | &nbsp;&nbsp; 9-15-2037 | 1178907 | &nbsp;&nbsp; 1090981 |
| CSMC Trust Series 2018-RPL9 Class A144A±± | 3.85 | &nbsp;&nbsp; 9-25-2057 | 955602 | &nbsp;&nbsp; 934958 |
| DBSG Mortgage Trust Series 2024-ALTA Class A144A±± | 5.95 | &nbsp;&nbsp; 6-10-2037 | 1615000 | &nbsp;&nbsp; 1638254 |
| &nbsp;&nbsp; Durst Commercial Mortgage Trust Series 2025-151 <br> Class D144A±±<br>| 7.02 | &nbsp;&nbsp; 8-10-2042 | 1000000 | &nbsp;&nbsp; 1042583 |
| EFMT Series 2025-NQM3 Class A1144A±± | 5.49 | &nbsp;&nbsp; 8-25-2070 | 3368461 | &nbsp;&nbsp; 3405530 |
| &nbsp;&nbsp; FREMF Mortgage Trust Series 2019-KF70 Class B (30 Day <br> Average U.S. SOFR+2.41%)144A±<br>| 6.09 | &nbsp;&nbsp; 9-25-2029 | 65831 | &nbsp;&nbsp; 65118 |
| &nbsp;&nbsp; FREMF Mortgage Trust Series 2020-KF76 Class B (30 Day <br> Average U.S. SOFR+2.86%)144A±<br>| 6.54 | &nbsp;&nbsp; 1-25-2030 | 67058 | &nbsp;&nbsp; 65667 |
| &nbsp;&nbsp; FS Trust Series 2026-HULA Class B (U.S. SOFR 1 <br> Month+1.65%)144A±%%<br>| 5.32 | &nbsp;&nbsp; 3-15-2041 | 3455000 | &nbsp;&nbsp; 3456628 |
| &nbsp;&nbsp; FS Trust Series 2026-ORL Class B (U.S. SOFR 1 <br> Month+1.55%)144A±<br>| 5.22 | &nbsp;&nbsp; 2-15-2041 | 745000 | &nbsp;&nbsp; 745000 |
| &nbsp;&nbsp; Harvest Commercial Capital Loan Trust Series 2024-1 <br> Class A<br>| 6.16 | &nbsp;&nbsp; 10-25-2056 | 259961 | &nbsp;&nbsp; 268866 |
| &nbsp;&nbsp; HAVN Trust Series 2025-MOB Class A (U.S. SOFR 1 <br> Month+1.70%)144A±<br>| 5.36 | &nbsp;&nbsp; 10-15-2035 | 2450000 | &nbsp;&nbsp; 2445406 |
| &nbsp;&nbsp; Hawaii Hotel Trust Series 2025-MAUI Class B (U.S. SOFR 1 <br> Month+1.74%)144A±<br>| 5.40 | &nbsp;&nbsp; 3-15-2042 | 3700000 | &nbsp;&nbsp; 3700000 |
| &nbsp;&nbsp; Imperial Fund Mortgage Trust Series 2021-NQM1 <br> Class A1144A±±<br>| 1.07 | &nbsp;&nbsp; 6-25-2056 | 87221 | &nbsp;&nbsp; 79196 |
| &nbsp;&nbsp; Imperial Fund Mortgage Trust Series 2021-NQM2 <br> Class A2144A±±<br>| 1.36 | &nbsp;&nbsp; 9-25-2056 | 394740 | &nbsp;&nbsp; 345107 |
| &nbsp;&nbsp; JPMBB Commercial Mortgage Securities Trust <br> Series 2013-C15 Class D144A±±<br>| 4.75 | &nbsp;&nbsp; 11-15-2045 | 113973 | &nbsp;&nbsp; 104605 |
| &nbsp;&nbsp; JPMorgan Mortgage Trust Series 2020-1 <br> Class A15144A±±<br>| 3.50 | &nbsp;&nbsp; 6-25-2050 | 65071 | &nbsp;&nbsp; 59894 |
| &nbsp;&nbsp; JPMorgan Mortgage Trust Series 2025-4 <br> Class A4A144A±±<br>| 5.50 | &nbsp;&nbsp; 11-25-2055 | 3512009 | &nbsp;&nbsp; 3558692 |
| &nbsp;&nbsp; JPMorgan Mortgage Trust Series 2025-7MPR <br> Class A1D144A±±<br>| 5.32 | &nbsp;&nbsp; 2-25-2056 | 1628710 | &nbsp;&nbsp; 1638196 |
| &nbsp;&nbsp; MCR Mortgage Trust Series 2024-HF1 Class A (U.S. SOFR 1 <br> Month+1.79%)144A±<br>| 5.45 | &nbsp;&nbsp; 12-15-2041 | 1529574 | &nbsp;&nbsp; 1530052 |

---

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

Allspring Managed Account \| 17

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities**(continued) |  |  |  |  |
| MFA Trust Series 2020-NQM3 Class M1144A±± | 2.65<br> %<br>| &nbsp;&nbsp; 1-26-2065 | $900000 | &nbsp;&nbsp; $862898 |
| MFA Trust Series 2021-INV1 Class A2144A±± | 1.06 | &nbsp;&nbsp; 1-25-2056 | 221610 | &nbsp;&nbsp; 215714 |
| MFA Trust Series 2021-NQM1 Class A1144A±± | 1.15 | &nbsp;&nbsp; 4-25-2065 | 65109 | &nbsp;&nbsp; 61513 |
| &nbsp;&nbsp; Mill City Mortgage Loan Trust Series 2021-NMR1 <br> Class B2144A±±<br>| 2.50 | &nbsp;&nbsp; 11-25-2060 | 1980000 | &nbsp;&nbsp; 1563939 |
| &nbsp;&nbsp; Morgan Stanley Capital I Trust Series 2014-150E <br> Class A144A<br>| 3.91 | &nbsp;&nbsp; 9-9-2032 | 3200000 | &nbsp;&nbsp; 3017735 |
| &nbsp;&nbsp; Morgan Stanley Residential Mortgage Loan Trust <br> Series 2025-NQM5 Class A1144A±±<br>| 5.44 | &nbsp;&nbsp; 7-25-2070 | 2871417 | &nbsp;&nbsp; 2898394 |
| &nbsp;&nbsp; New Residential Mortgage Loan Trust Series 2018-4A <br> Class A1M (U.S. SOFR 1 Month+1.01%)144A±<br>| 4.69 | &nbsp;&nbsp; 1-25-2048 | 56216 | &nbsp;&nbsp; 55565 |
| &nbsp;&nbsp; New Residential Mortgage Loan Trust Series 2022-NQM1 <br> Class A1144A±±<br>| 2.28 | &nbsp;&nbsp; 4-25-2061 | 312755 | &nbsp;&nbsp; 286935 |
| OBX Trust Series 2022-NQM7 Class A1144A±± | 5.11 | &nbsp;&nbsp; 8-25-2062 | 1014761 | &nbsp;&nbsp; 1013895 |
| PRKCM Trust Series 2022-AFC1 Class A1A144A±± | 4.10 | &nbsp;&nbsp; 4-25-2057 | 1217207 | &nbsp;&nbsp; 1231083 |
| PRPM Trust Series 2024-NQM3 Class A1144A±± | 5.23 | &nbsp;&nbsp; 8-25-2069 | 2190688 | &nbsp;&nbsp; 2199199 |
| ROCK Trust Series 2024-CNTR Class C144A | 6.47 | &nbsp;&nbsp; 11-13-2041 | 1750000 | &nbsp;&nbsp; 1834970 |
| &nbsp;&nbsp; SFAVE Commercial Mortgage Securities Trust Series 2015-<br> 5AVE Class D144A±±<br>| 4.39 | &nbsp;&nbsp; 1-5-2043 | 4000000 | &nbsp;&nbsp; 3113713 |
| &nbsp;&nbsp; SG Residential Mortgage Trust Series 2021-1 <br> Class A2144A±±<br>| 1.36 | &nbsp;&nbsp; 7-25-2061 | 1464364 | &nbsp;&nbsp; 1253639 |
| &nbsp;&nbsp; SHR Trust Series 2024-LXRY Class A (U.S. SOFR 1 <br> Month+1.95%)144A±<br>| 5.61 | &nbsp;&nbsp; 10-15-2041 | 3325000 | &nbsp;&nbsp; 3329156 |
| &nbsp;&nbsp; SPGN Trust Series 2026-TFLM Class C (U.S. SOFR 1 <br> Month+1.80%)144A±<br>| 5.50 | &nbsp;&nbsp; 2-15-2041 | 3365000 | &nbsp;&nbsp; 3360794 |
| &nbsp;&nbsp; Starwood Mortgage Residential Trust Series 2020-INV1 <br> Class A1144A±±<br>| 1.03 | &nbsp;&nbsp; 11-25-2055 | 25646 | &nbsp;&nbsp; 24655 |
| &nbsp;&nbsp; SWCH Commercial Mortgage Trust Series 2025-DATA <br> Class C (U.S. SOFR 1 Month+2.09%)144A±<br>| 5.75 | &nbsp;&nbsp; 2-15-2042 | 4000000 | &nbsp;&nbsp; 3979995 |
| &nbsp;&nbsp; Towd Point Mortgage Trust Series 2019-HY3 Class A2 <br> (U.S. SOFR 1 Month+1.41%)144A±<br>| 5.09 | &nbsp;&nbsp; 10-25-2059 | 150000 | &nbsp;&nbsp; 149981 |
| Towd Point Mortgage Trust Series 2020-4 Class A2144A | 2.50 | &nbsp;&nbsp; 10-25-2060 | 350000 | &nbsp;&nbsp; 297393 |
| &nbsp;&nbsp; Verus Securitization Trust Series 2021-R3 <br> Class A1144A±±<br>| 1.02 | &nbsp;&nbsp; 4-25-2064 | 179874 | &nbsp;&nbsp; 172863 |
| &nbsp;&nbsp; Verus Securitization Trust Series 2021-R3 <br> Class A2144A±±<br>| 1.28 | &nbsp;&nbsp; 4-25-2064 | 37911 | &nbsp;&nbsp; 36298 |
| Verus Securitization Trust Series 2024-4 Class A1144A±± | 6.22 | &nbsp;&nbsp; 6-25-2069 | 1549146 | &nbsp;&nbsp; 1568872 |
| Verus Securitization Trust Series 2024-9 Class M1144A±± | 6.20 | &nbsp;&nbsp; 11-25-2069 | 5000000 | &nbsp;&nbsp; 5063811 |
| &nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust Series 2025-<br> NYCH Class A (U.S. SOFR 1 Month+1.74%)144A±<br>| 5.40 | &nbsp;&nbsp; 6-15-2042 | 1000000 | &nbsp;&nbsp; 996250 |
| &nbsp;&nbsp; **Total non-agency mortgage-backed securities** <br> **(Cost $110,209,261)**<br>|  |  |  | &nbsp;&nbsp; **111179037** |
| **U.S. Treasury securities: 20.10%** |  |  |  |  |
| U.S. Treasury Bonds | 4.63 | &nbsp;&nbsp; 11-15-2044 | 470000 | &nbsp;&nbsp; 474424 |
| U.S. Treasury Bonds## | 4.63 | &nbsp;&nbsp; 11-15-2045 | 28681000 | &nbsp;&nbsp; 28869219 |
| U.S. Treasury Bonds | 4.63 | &nbsp;&nbsp; 2-15-2046 | 19226000 | &nbsp;&nbsp; 19361183 |
| U.S. Treasury Bonds | 4.63 | &nbsp;&nbsp; 5-15-2054 | 9325000 | &nbsp;&nbsp; 9295131 |
| U.S. Treasury Bonds | 4.63 | &nbsp;&nbsp; 11-15-2055 | 4260000 | &nbsp;&nbsp; 4252678 |

---

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

18 \| Allspring Managed Account

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **U.S. Treasury securities**(continued) |  |  |  |  |
| U.S. Treasury Bonds | 4.75<br> %<br>| &nbsp;&nbsp; 11-15-2043 | $2265000 | &nbsp;&nbsp; $2331357 |
| U.S. Treasury Bonds | 4.75 | &nbsp;&nbsp; 2-15-2045 | 30000 | &nbsp;&nbsp; 30750 |
| U.S. Treasury Bonds | 4.75 | &nbsp;&nbsp; 11-15-2053 | 580000 | &nbsp;&nbsp; 589380 |
| U.S. Treasury Bonds | 4.75 | &nbsp;&nbsp; 5-15-2055 | 14534000 | &nbsp;&nbsp; 14791184 |
| U.S. Treasury Bonds | 4.75 | &nbsp;&nbsp; 8-15-2055 | 9469000 | &nbsp;&nbsp; 9642105 |
| U.S. Treasury Notes | 3.50 | &nbsp;&nbsp; 1-31-2028 | 27000000 | &nbsp;&nbsp; 27051680 |
| U.S. Treasury Notes## | 3.63 | &nbsp;&nbsp; 8-31-2030 | 32265000 | &nbsp;&nbsp; 32432627 |
| U.S. Treasury Notes | 3.63 | &nbsp;&nbsp; 9-30-2030 | 12170000 | &nbsp;&nbsp; 12232276 |
| U.S. Treasury Notes## | 3.75 | &nbsp;&nbsp; 1-31-2031 | 40376000 | &nbsp;&nbsp; 40786069 |
| U.S. Treasury Notes | 4.00 | &nbsp;&nbsp; 11-15-2035 | 12059000 | &nbsp;&nbsp; 12102337 |
| U.S. Treasury Notes | 4.13 | &nbsp;&nbsp; 8-31-2030 | 12075000 | &nbsp;&nbsp; 12383950 |
| U.S. Treasury Notes | 4.13 | &nbsp;&nbsp; 11-15-2032 | 87000 | &nbsp;&nbsp; 89175 |
| U.S. Treasury Notes | 4.13 | &nbsp;&nbsp; 2-15-2036 | 2220000 | &nbsp;&nbsp; 2249484 |
| **Total U.S. Treasury securities (Cost $226,595,504)** |  |  |  | &nbsp;&nbsp; **228965009** |
| **Yankee corporate bonds and notes: 8.66%** |  |  |  |  |
| **Basic materials: 0.26%** |  |  |  |  |
| **Chemicals: 0.13%** |  |  |  |  |
| Braskem Netherlands Finance BV144A | 7.25 | &nbsp;&nbsp; 2-13-2033 | 1600000 | &nbsp;&nbsp; 660000 |
| Orbia Advance Corp. SAB de CV144A | 7.50 | &nbsp;&nbsp; 5-13-2035 | 800000 | &nbsp;&nbsp; 806129 |
|  |  |  |  | &nbsp;&nbsp; **1466129** |
| **Mining: 0.13%** |  |  |  |  |
| Rio Tinto Finance USA PLC | 5.75 | &nbsp;&nbsp; 3-14-2055 | 1490000 | &nbsp;&nbsp; **1546431** |
| **Communications: 0.73%** |  |  |  |  |
| **Media: 0.06%** |  |  |  |  |
| Virgin Media Secured Finance PLC144A | 4.50 | &nbsp;&nbsp; 8-15-2030 | 315000 | &nbsp;&nbsp; 287140 |
| VZ Secured Financing BV144A | 5.00 | &nbsp;&nbsp; 1-15-2032 | 435000 | &nbsp;&nbsp; 386578 |
|  |  |  |  | &nbsp;&nbsp; **673718** |
| **Telecommunications: 0.67%** |  |  |  |  |
| Colombia Telecomunicaciones SA ESP144A | 4.95 | &nbsp;&nbsp; 7-17-2030 | 525000 | &nbsp;&nbsp; 491878 |
| Nokia Oyj | 6.63 | &nbsp;&nbsp; 5-15-2039 | 10000 | &nbsp;&nbsp; 10830 |
| &nbsp;&nbsp; Rogers Communications, Inc. (5 Year Treasury Constant <br> Maturity+2.62%)±<br>| 7.13 | &nbsp;&nbsp; 4-15-2055 | 2675000 | &nbsp;&nbsp; 2833014 |
| TELUS Corp. (5 Year Treasury Constant Maturity+2.52%)± | 6.63 | &nbsp;&nbsp; 6-9-2056 | 1920000 | &nbsp;&nbsp; 1935522 |
| TELUS Corp. (5 Year Treasury Constant Maturity+2.71%)± | 7.00 | &nbsp;&nbsp; 10-15-2055 | 1995000 | &nbsp;&nbsp; 2105234 |
| Zegona Finance PLC144A | 8.63 | &nbsp;&nbsp; 7-15-2029 | 247000 | &nbsp;&nbsp; 260821 |
|  |  |  |  | &nbsp;&nbsp; **7637299** |
| **Consumer, cyclical: 1.11%** |  |  |  |  |
| **Apparel: 0.06%** |  |  |  |  |
| Gildan Activewear, Inc.144A | 5.40 | &nbsp;&nbsp; 10-7-2035 | 680000 | &nbsp;&nbsp; **687559** |
| **Leisure time: 1.05%** |  |  |  |  |
| Carnival Corp.144A | 6.13 | &nbsp;&nbsp; 2-15-2033 | 6315000 | &nbsp;&nbsp; 6537641 |
| Royal Caribbean Cruises Ltd. | 5.25 | &nbsp;&nbsp; 2-27-2038 | 895000 | &nbsp;&nbsp; 896408 |

---

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

Allspring Managed Account \| 19

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Leisure time**(continued) |  |  |  |  |
| Royal Caribbean Cruises Ltd.144A | 5.63<br> %<br>| &nbsp;&nbsp; 9-30-2031 | $330000 | &nbsp;&nbsp; $340163 |
| Royal Caribbean Cruises Ltd.144A | 6.00 | &nbsp;&nbsp; 2-1-2033 | 4035000 | &nbsp;&nbsp; 4180019 |
|  |  |  |  | &nbsp;&nbsp; **11954231** |
| **Consumer, non-cyclical: 0.11%** |  |  |  |  |
| **Beverages: 0.11%** |  |  |  |  |
| Becle SAB de CV144A | 2.50 | &nbsp;&nbsp; 10-14-2031 | 1375000 | &nbsp;&nbsp; **1206231** |
| **Energy: 1.49%** |  |  |  |  |
| **Oil & gas: 1.26%** |  |  |  |  |
| Borr IHC Ltd./Borr Finance LLC144A | 10.00 | &nbsp;&nbsp; 11-15-2028 | 213415 | &nbsp;&nbsp; 222286 |
| &nbsp;&nbsp; BP Capital Markets PLC (5 Year Treasury Constant <br> Maturity+2.15%)ʊ±<br>| 6.45 | &nbsp;&nbsp; 12-1-2033 | 1000000 | &nbsp;&nbsp; 1065871 |
| &nbsp;&nbsp; BP Capital Markets PLC (5 Year Treasury Constant <br> Maturity+4.40%)ʊ±<br>| 4.88 | &nbsp;&nbsp; 3-22-2030 | 1355000 | &nbsp;&nbsp; 1350504 |
| Harbour Energy PLC144A | 6.33 | &nbsp;&nbsp; 4-1-2035 | 3870000 | &nbsp;&nbsp; 4030668 |
| Santos Finance Ltd.144A | 5.75 | &nbsp;&nbsp; 11-13-2035 | 2875000 | &nbsp;&nbsp; 2939810 |
| Saudi Arabian Oil Co.144A | 5.00 | &nbsp;&nbsp; 2-2-2036 | 2620000 | &nbsp;&nbsp; 2623537 |
| Saudi Arabian Oil Co.144A | 6.38 | &nbsp;&nbsp; 6-2-2055 | 2000000 | &nbsp;&nbsp; 2107725 |
|  |  |  |  | &nbsp;&nbsp; **14340401** |
| **Pipelines: 0.23%** |  |  |  |  |
| &nbsp;&nbsp; Enbridge, Inc. (5 Year Treasury Constant <br> Maturity+3.71%)±<br>| 7.38 | &nbsp;&nbsp; 1-15-2083 | 2000000 | &nbsp;&nbsp; 2069946 |
| &nbsp;&nbsp; Enbridge, Inc. (5 Year Treasury Constant <br> Maturity+4.42%)±<br>| 7.63 | &nbsp;&nbsp; 1-15-2083 | 15000 | &nbsp;&nbsp; 16482 |
| &nbsp;&nbsp; South Bow Canadian Infrastructure Holdings Ltd. (5 Year <br> Treasury Constant Maturity+3.95%)±<br>| 7.63 | &nbsp;&nbsp; 3-1-2055 | 545000 | &nbsp;&nbsp; 567920 |
|  |  |  |  | &nbsp;&nbsp; **2654348** |
| **Financial: 4.35%** |  |  |  |  |
| **Banks: 3.02%** |  |  |  |  |
| AIB Group PLC (U.S. SOFR+1.65%)144A± | 5.32 | &nbsp;&nbsp; 5-15-2031 | 3000000 | &nbsp;&nbsp; 3116396 |
| Banco Bradesco SA144A | 5.38 | &nbsp;&nbsp; 1-20-2031 | 3160000 | &nbsp;&nbsp; 3185280 |
| &nbsp;&nbsp; Banco Mercantil del Norte SA (5 Year Treasury Constant <br> Maturity+4.07%)144Aʊ±<br>| 8.38 | &nbsp;&nbsp; 5-20-2031 | 700000 | &nbsp;&nbsp; 748125 |
| &nbsp;&nbsp; Banco Mercantil del Norte SA (5 Year Treasury Constant <br> Maturity+4.64%)144Aʊ±<br>| 5.88 | &nbsp;&nbsp; 1-24-2027 | 2200000 | &nbsp;&nbsp; 2197304 |
| &nbsp;&nbsp; Banco Nacional de Comercio Exterior SNC (5 Year <br> Treasury Constant Maturity+2.00%)144A±<br>| 2.72 | &nbsp;&nbsp; 8-11-2031 | 1200000 | &nbsp;&nbsp; 1187068 |
| Banco Santander Chile144A | 4.55 | &nbsp;&nbsp; 11-20-2030 | 1690000 | &nbsp;&nbsp; 1701475 |
| &nbsp;&nbsp; Banco Santander Mexico SA Institucion de Banca Multiple <br> Grupo Financiero Santand (5 Year Treasury Constant <br> Maturity+3.00%)144A±<br>| 7.53 | &nbsp;&nbsp; 10-1-2028 | 2000000 | &nbsp;&nbsp; 2134204 |
| &nbsp;&nbsp; Bancolombia SA (5 Year Treasury Constant <br> Maturity+4.32%)±<br>| 8.63 | &nbsp;&nbsp; 12-24-2034 | 1176000 | &nbsp;&nbsp; 1258612 |
| Barclays PLC (U.S. SOFR+1.23%)± | 5.37 | &nbsp;&nbsp; 2-25-2031 | 2255000 | &nbsp;&nbsp; 2340755 |
| Barclays PLC (U.S. SOFR+1.51%)± | 5.21 | &nbsp;&nbsp; 2-24-2037 | 1755000 | &nbsp;&nbsp; 1753344 |

---

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

20 \| Allspring Managed Account

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Banks**(continued) |  |  |  |  |
| &nbsp;&nbsp; BBVA Mexico SA Institucion De Banca Multiple Grupo <br> Financiero (5 Year Treasury Constant <br> Maturity+4.31%)144A±<br>| 5.88<br> %<br>| &nbsp;&nbsp; 9-13-2034 | $700000 | &nbsp;&nbsp; $707751 |
| &nbsp;&nbsp; BNP Paribas SA (5 Year Treasury Constant <br> Maturity+2.85%)144Aʊ±<br>| 6.88 | &nbsp;&nbsp; 12-15-2033 | 2055000 | &nbsp;&nbsp; 2065846 |
| &nbsp;&nbsp; BNP Paribas SA (5 Year Treasury Constant <br> Maturity+3.73%)144Aʊ±<br>| 8.00 | &nbsp;&nbsp; 8-22-2031 | 200000 | &nbsp;&nbsp; 218445 |
| &nbsp;&nbsp; Canadian Imperial Bank of Commerce <br> (U.S. SOFR+0.79%)±<br>| 4.28 | &nbsp;&nbsp; 1-29-2030 | 2320000 | &nbsp;&nbsp; 2335587 |
| &nbsp;&nbsp; Commonwealth Bank of Australia (1 Year Treasury <br> Constant Maturity+1.32%)144A±<br>| 5.93 | &nbsp;&nbsp; 3-14-2046 | 1845000 | &nbsp;&nbsp; 1927957 |
| Credit Agricole SA (U.S. SOFR+1.46%)144A± | 5.22 | &nbsp;&nbsp; 5-27-2031 | 1640000 | &nbsp;&nbsp; 1695757 |
| &nbsp;&nbsp; Danske Bank AS (1 Year Treasury Constant <br> Maturity+1.40%)144A±<br>| 5.71 | &nbsp;&nbsp; 3-1-2030 | 1020000 | &nbsp;&nbsp; 1064520 |
| HSBC Holdings PLC (U.S. SOFR+1.57%)± | 5.24 | &nbsp;&nbsp; 5-13-2031 | 2065000 | &nbsp;&nbsp; 2139269 |
| &nbsp;&nbsp; UBS Group AG (5 Year Treasury Constant <br> Maturity+3.40%)144Aʊ±<br>| 4.88 | &nbsp;&nbsp; 2-12-2027 | 665000 | &nbsp;&nbsp; 662225 |
| &nbsp;&nbsp; UBS Group AG (USD SOFR ICE Swap Rate 11:00am NY 5 <br> Year+3.63%)144Aʊ±<br>| 6.85 | &nbsp;&nbsp; 9-10-2029 | 1975000 | &nbsp;&nbsp; 2014637 |
|  |  |  |  | &nbsp;&nbsp; **34454557** |
| **Diversified financial services: 0.45%** |  |  |  |  |
| &nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation Trust <br> (5 Year Treasury Constant Maturity+2.72%)±<br>| 6.95 | &nbsp;&nbsp; 3-10-2055 | 520000 | &nbsp;&nbsp; 549575 |
| Avolon Holdings Funding Ltd.144A | 2.75 | &nbsp;&nbsp; 2-21-2028 | 815000 | &nbsp;&nbsp; 792956 |
| Avolon Holdings Funding Ltd.144A | 5.75 | &nbsp;&nbsp; 3-1-2029 | 1500000 | &nbsp;&nbsp; 1560503 |
| Avolon Holdings Funding Ltd.144A | 5.75 | &nbsp;&nbsp; 11-15-2029 | 1600000 | &nbsp;&nbsp; 1672037 |
| Brookfield Asset Management Ltd. | 6.08 | &nbsp;&nbsp; 9-15-2055 | 525000 | &nbsp;&nbsp; 533775 |
| Unifin Financiera SAB de CV144A† | 9.88 | &nbsp;&nbsp; 1-28-2029 | 250000 | &nbsp;&nbsp; 19500 |
|  |  |  |  | &nbsp;&nbsp; **5128346** |
| **Insurance: 0.34%** |  |  |  |  |
| &nbsp;&nbsp; Allianz SE (5 Year Treasury Constant <br> Maturity+2.77%)144A±<br>| 5.60 | &nbsp;&nbsp; 9-3-2054 | 200000 | &nbsp;&nbsp; 204502 |
| &nbsp;&nbsp; Allianz SE (5 Year Treasury Constant <br> Maturity+3.23%)144A±<br>| 6.35 | &nbsp;&nbsp; 9-6-2053 | 400000 | &nbsp;&nbsp; 429231 |
| Aspen Insurance Holdings Ltd. | 5.75 | &nbsp;&nbsp; 7-1-2030 | 1035000 | &nbsp;&nbsp; 1085519 |
| RenaissanceRe Holdings Ltd. | 5.80 | &nbsp;&nbsp; 4-1-2035 | 2000000 | &nbsp;&nbsp; 2095713 |
|  |  |  |  | &nbsp;&nbsp; **3814965** |
| **Private equity: 0.24%** |  |  |  |  |
| Brookfield Finance, Inc. | 5.33 | &nbsp;&nbsp; 1-15-2036 | 2705000 | &nbsp;&nbsp; **2699561** |
| **REITs: 0.30%** |  |  |  |  |
| Equinix Asia Financing Corp. Pte. Ltd.%% | 4.40 | &nbsp;&nbsp; 3-15-2031 | 3420000 | &nbsp;&nbsp; **3417436** |
| **Government securities: 0.29%** |  |  |  |  |
| **Multi-national: 0.29%** |  |  |  |  |
| African Export-Import Bank144A | 3.80 | &nbsp;&nbsp; 5-17-2031 | 2180000 | &nbsp;&nbsp; 1973709 |

---

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

Allspring Managed Account \| 21

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Multi-national**(continued) |  |  |  |  |
| Banque Ouest Africaine de Developpement144A | 4.70<br> %<br>| &nbsp;&nbsp; 10-22-2031 | $775000 | &nbsp;&nbsp; $725264 |
| Banque Ouest Africaine de Developpement144A | 5.00 | &nbsp;&nbsp; 7-27-2027 | 600000 | &nbsp;&nbsp; 598985 |
|  |  |  |  | &nbsp;&nbsp; **3297958** |
| **Industrial: 0.00%** |  |  |  |  |
| **Engineering & construction: 0.00%** |  |  |  |  |
| CIMIC Finance USA Pty. Ltd.144A | 7.00 | &nbsp;&nbsp; 3-25-2034 | 10000 | &nbsp;&nbsp; **11009** |
| **Utilities: 0.32%** |  |  |  |  |
| **Electric: 0.32%** |  |  |  |  |
| Comision Federal de Electricidad144A | 3.35 | &nbsp;&nbsp; 2-9-2031 | 1000000 | &nbsp;&nbsp; 919302 |
| Comision Federal de Electricidad144A | 3.88 | &nbsp;&nbsp; 7-26-2033 | 2300000 | &nbsp;&nbsp; 2054475 |
| Emera, Inc. Series 16-A (U.S. SOFR 3 Month+5.44%)± | 6.75 | &nbsp;&nbsp; 6-15-2076 | 700000 | &nbsp;&nbsp; 703505 |
|  |  |  |  | &nbsp;&nbsp; **3677282** |
| &nbsp;&nbsp; **Total yankee corporate bonds and notes** <br> **(Cost $97,466,441)**<br>|  |  |  | &nbsp;&nbsp; **98667461** |
| **Yankee government bonds: 2.29%** |  |  |  |  |
| **Argentina: 0.40%** |  |  |  |  |
| Ciudad Autonoma De Buenos Aires144A | 7.80 | &nbsp;&nbsp; 11-26-2033 | 2115000 | &nbsp;&nbsp; 2165633 |
| Province of Santa Fe144A | 8.10 | &nbsp;&nbsp; 12-11-2034 | 2500000 | &nbsp;&nbsp; 2443750 |
|  |  |  |  | &nbsp;&nbsp; **4609383** |
| **Benin: 0.04%** |  |  |  |  |
| Benin144A | 7.96 | &nbsp;&nbsp; 2-13-2038 | 400000 | &nbsp;&nbsp; **420794** |
| **Bermuda: 0.05%** |  |  |  |  |
| Bermuda144A | 3.38 | &nbsp;&nbsp; 8-20-2050 | 800000 | &nbsp;&nbsp; **563304** |
| **Israel: 0.69%** |  |  |  |  |
| Israel | 4.50 | &nbsp;&nbsp; 1-13-2031 | 3300000 | &nbsp;&nbsp; 3306076 |
| Israel | 5.75 | &nbsp;&nbsp; 3-12-2054 | 2650000 | &nbsp;&nbsp; 2589828 |
| Israel | 5.88 | &nbsp;&nbsp; 1-13-2056 | 2000000 | &nbsp;&nbsp; 1986793 |
|  |  |  |  | &nbsp;&nbsp; **7882697** |
| **Ivory Coast: 0.22%** |  |  |  |  |
| Ivory Coast144A | 8.25 | &nbsp;&nbsp; 1-30-2037 | 2285000 | &nbsp;&nbsp; **2495282** |
| **Mexico: 0.67%** |  |  |  |  |
| Mexico | 4.75 | &nbsp;&nbsp; 3-8-2044 | 500000 | &nbsp;&nbsp; 416500 |
| Mexico | 5.63 | &nbsp;&nbsp; 9-22-2035 | 1380000 | &nbsp;&nbsp; 1375860 |
| Mexico | 6.13 | &nbsp;&nbsp; 2-9-2038 | 2500000 | &nbsp;&nbsp; 2530875 |
| Mexico | 6.35 | &nbsp;&nbsp; 2-9-2035 | 1300000 | &nbsp;&nbsp; 1369615 |
| Mexico | 3.77 | &nbsp;&nbsp; 5-24-2061 | 3120000 | &nbsp;&nbsp; 1954680 |
|  |  |  |  | &nbsp;&nbsp; **7647530** |
| **Panama: 0.13%** |  |  |  |  |
| Panama | 2.25 | &nbsp;&nbsp; 9-29-2032 | 1700000 | &nbsp;&nbsp; **1429615** |

---

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

22 \| Allspring Managed Account

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Trinidad and Tobago: 0.09%** |  |  |  |  |
| Trinidad & Tobago144A | 6.50<br> %<br>| &nbsp;&nbsp; 1-28-2036 | $1000000 | &nbsp;&nbsp; **$1010500** |
| **Total yankee government bonds (Cost $25,411,770)** |  |  |  | &nbsp;&nbsp; **26059105** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | Yield | Shares |  |
| **Short-term investments: 1.76%** |  |  |  |  |
| **Investment companies: 1.76%** |  |  |  |  |
| &nbsp;&nbsp; Allspring Government Money Market Fund Select <br> Class♠∞##<br>|  | 3.62 | 20028110 | &nbsp;&nbsp; **20028110** |
| **Total short-term investments (Cost $20,028,110)** |  |  |  | &nbsp;&nbsp; **20028110** |
| **Total investments in securities (Cost $1,208,358,204)** | 107.63<br> %<br>|  |  | &nbsp;&nbsp; 1226089731 |
| Other assets and liabilities, net | (7.63)<br>|  |  | &nbsp;&nbsp; (86931020)<br>|
| **Total net assets** | **100.00%**<br>|  |  | &nbsp;&nbsp; **$1139158711** |

---

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

---

| | |
|:---|:---|
| %% | The security is purchased on a when-issued basis. |
| 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>|
| ±± | The coupon of the security is adjusted based on the principal and/or interest payments received from the underlying pool of mortgages as well as the credit quality <br> and the actual prepayment speed of the underlying mortgages. The rate shown is the rate in effect at period end.<br>|
| ± | Variable rate investment. The rate shown is the rate in effect at period end. |
| ♦ | The security is fair valued in accordance with procedures approved by Allspring Funds Management, LLC. |
| ‡ | Security is valued using significant unobservable inputs. |
| † | Non-income-earning security |
| ʊ | Security is perpetual in nature and has no stated maturity date. The date shown reflects the next call date. |
| 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 issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
| ∞ | The rate represents the 7-day annualized yield at period end. |

---

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

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| AUD | Australian dollar |
| BDC | Business Development Company |
| BRL | Brazilian real |
| CLP | Chile peso |
| COP | Colombian peso |
| CZK | Czech Republic koruna |
| EUR | Euro |
| EURIBOR | Euro Interbank Offered Rate |
| FHLB | Federal Home Loan Bank |
| FNMA | Federal National Mortgage Association |
| GBP | Great British pound |
| GNMA | Government National Mortgage Association |
| MXN | Mexican peso |
| REIT | Real estate investment trust |
| SEK | Sweden krona |
| SGD | Singapore dollar |
| SOFR | Secured Overnight Financing Rate |
| ZAR | South African rand |

---

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

Allspring Managed Account \| 23

------

Portfolio of investments—February 28, 2026 (unaudited)

**Investments in affiliates**

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| Allspring Government Money Market Fund <br> Select Class<br>| $27424938 | $289124184 | $(296521012)<br>| $0 | $0 | $20028110 | 20028110 | $423262 |

---

**Forward foreign currency contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Currency to be <br>received | Currency to be <br>received | &nbsp;&nbsp;&nbsp; Currency to be <br>delivered | &nbsp;&nbsp;&nbsp; Currency to be <br>delivered | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date<br>| &nbsp;&nbsp; Unrealized <br>gains<br>| &nbsp;&nbsp; Unrealized <br>losses<br>|
| USD | 6761736 | EUR | 5790000 | Bank of New York Mellon Corp. | 3-9-2026 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $(81714)<br>|
| USD | 96366813 | EUR | 82405000 | Bank of New York Mellon Corp. | 3-9-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (1031197)<br>|
| EUR | 9696000 | USD | 11408157 | Bank of New York Mellon Corp. | 3-9-2026 | &nbsp;&nbsp;&nbsp; 51963 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 6013687 | EUR | 5015000 | Bank of New York Mellon Corp. | 3-9-2026 | &nbsp;&nbsp;&nbsp; 86243 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 1412777 | EUR | 1200000 | State Street Bank & Trust Co. | 3-9-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (5555)<br>|
| USD | 2309615 | EUR | 1960000 | State Street Bank & Trust Co. | 3-9-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (6993)<br>|
| USD | 19973159 | BRL | 110130000 | Bank of New York Mellon Corp. | 3-16-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (1437661)<br>|
| BRL | 80150000 | USD | 15223750 | State Street Bank & Trust Co. | 3-16-2026 | &nbsp;&nbsp;&nbsp; 358536 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 13784965 | AUD | 19363000 | Bank of New York Mellon Corp. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 5954 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 551026 | AUD | 780000 | State Street Bank & Trust Co. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (4034)<br>|
| USD | 5299078 | SEK | 48500000 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (77582)<br>|
| USD | 331777 | SEK | 3000000 | State Street Bank & Trust Co. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (799)<br>|
| USD | 5467556 | ZAR | 87640000 | Bank of New York Mellon Corp. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (30307)<br>|
| USD | 2771444 | CLP | 2370000000 | Morgan Stanley, Inc. | 3-23-2026 | &nbsp;&nbsp;&nbsp; 55978 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 5098557 | SGD | 6540000 | Bank of New York Mellon Corp. | 3-23-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (79158)<br>|
| USD | 135873 | SGD | 172000 | Bank of New York Mellon Corp. | 3-23-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (299)<br>|
| USD | 402675 | SGD | 510000 | Bank of New York Mellon Corp. | 3-23-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (1092)<br>|
| USD | 4798639 | CZK | 99970000 | Bank of New York Mellon Corp. | 3-31-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (77369)<br>|
| USD | 784246 | CZK | 16150000 | State Street Bank & Trust Co. | 3-31-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (3465)<br>|
| USD | 5420785 | MXN | 93450000 | State Street Bank & Trust Co. | 3-31-2026 | &nbsp;&nbsp;&nbsp; 7738 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 10611782 | COP | 39340000000 | Morgan Stanley, Inc. | 4-13-2026 | &nbsp;&nbsp;&nbsp; 232013 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 16831144 | GBP | 12329000 | Bank of New York Mellon Corp. | 5-18-2026 | &nbsp;&nbsp;&nbsp; 211759 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 915547 | GBP | 680000 | State Street Bank & Trust Co. | 5-18-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (1087)<br>|
| USD | 1214320 | GBP | 900000 | State Street Bank & Trust Co. | 5-18-2026 | &nbsp;&nbsp;&nbsp; 1127 | &nbsp;&nbsp;&nbsp; 0 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; **$1011311** | &nbsp;&nbsp;&nbsp; **$(2838312)**<br>|

---

**Futures contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Number of <br>contracts<br>| Expiration <br>date<br>| Notional <br>cost<br>| Notional <br>value<br>| Unrealized <br>gains<br>| Unrealized <br>losses<br>|
| **Long** |  |  |  |  |  |  |
| 10-Year U.S. Treasury Notes | &nbsp;&nbsp; 341 | &nbsp;&nbsp; 6-18-2026 | &nbsp;&nbsp; $38725381 | &nbsp;&nbsp; $38810063 | &nbsp;&nbsp; $84682 | &nbsp;&nbsp; $0 |
| Ultra U.S. Treasury Bond | &nbsp;&nbsp; 266 | &nbsp;&nbsp; 6-18-2026 | &nbsp;&nbsp; 32033269 | &nbsp;&nbsp; 32343938 | &nbsp;&nbsp; 310669 | &nbsp;&nbsp; 0 |
| 2-Year U.S. Treasury Notes | &nbsp;&nbsp; 1679 | &nbsp;&nbsp; 6-30-2026 | &nbsp;&nbsp; 350996894 | &nbsp;&nbsp; 351370102 | &nbsp;&nbsp; 373208 | &nbsp;&nbsp; 0 |
| 5-Year U.S. Treasury Notes | &nbsp;&nbsp; 1034 | &nbsp;&nbsp; 6-30-2026 | &nbsp;&nbsp; 113571924 | &nbsp;&nbsp; 113885406 | &nbsp;&nbsp; 313482 | &nbsp;&nbsp; 0 |

---

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

24 \| Allspring Managed Account

------

Portfolio of investments—February 28, 2026 (unaudited)

**Futures contracts** (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Number of<br> contracts<br>| Expiration<br> date<br>| Notional<br> cost<br>| Notional<br> value<br>| Unrealized<br> gains<br>| Unrealized<br> losses<br>|
| **Short** |  |  |  |  |  |  |
| 5-Year Euro-BOBL Futures | &nbsp;&nbsp; (461)<br>| &nbsp;&nbsp; 3-6-2026 | &nbsp;&nbsp; $(63473036)<br>| &nbsp;&nbsp; $(63982536)<br>| &nbsp;&nbsp; $0 | &nbsp;&nbsp; $(509500)<br>|
| Ultra 10-Year U.S. Treasury Notes | &nbsp;&nbsp; (1085)<br>| &nbsp;&nbsp; 6-18-2026 | &nbsp;&nbsp; (125925958)<br>| &nbsp;&nbsp; (126656797)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (730839)<br>|
|  |  |  |  |  | &nbsp;&nbsp; **$1082041** | &nbsp;&nbsp; **$(1240339)**<br>|

---

**Centrally cleared credit default swap contracts** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference index | Fixed rate | &nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp; Maturity <br>date<br>| Notional <br>amount | Notional <br>amount | Value | Premiums <br>paid <br>(received)<br>| Unrealized <br>gains<br>| Unrealized <br>losses<br>|
| **Buy Protection** |  |  |  |  |  |  |  |  |  |
| Markit CDX North American High Yield <br> Series 44 <br>| 5.00% | Quarterly | 6-20-2030 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 9781200 | &nbsp;&nbsp; $790773 | &nbsp;&nbsp; $621596 | &nbsp;&nbsp; $169177 | &nbsp;&nbsp; $0 |

---

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

Allspring Managed Account \| 25

------

Statement of assets and liabilities—February 28, 2026 (unaudited)

Financial statements

Statement of assets and liabilities

---

| | |
|:---|:---|
| Assets |  |
| Investments in unaffiliated securities, at value (cost $1,188,330,094) | $1206061621 |
| Investments in affiliated securities, at value (cost $20,028,110) | 20028110 |
| Cash | 1022 |
| Cash at broker segregated for futures contracts | 4108000 |
| Segregated cash for forward foreign currency contracts | 2260000 |
| Segregated cash for swap contracts | 643299 |
| Foreign currency, at value (cost $358,696) | 359046 |
| Receivable for investments sold | 28906901 |
| Receivable for interest | 11348801 |
| Receivable for Fund shares sold | 1066265 |
| Receivable for daily variation margin on open futures contracts | 1013132 |
| Unrealized gains on forward foreign currency contracts | 1011311 |
| Receivable from manager | 24484 |
| Principal paydown receivable | 6150 |
| **Total assets** | **1276838142** |
| Liabilities |  |
| Payable for investments purchased | 133733265 |
| Unrealized losses on forward foreign currency contracts | 2838312 |
| Payable for daily variation margin on open futures contracts | 728927 |
| Payable for Fund shares redeemed | 337381 |
| Payable for daily variation margin on centrally cleared swap contracts | 38706 |
| Accrued expenses and other liabilities | 2840 |
| **Total liabilities** | **137679431** |
| **Total net assets**  | **$1139158711** |
| Net assets consist of |  |
| Paid-in capital | $1127159229 |
| Total distributable earnings | 11999482 |
| **Total net assets** | **$1139158711** |
| Computation of net asset value per share |  |
| Net assets | $1139158711 |
| Shares outstanding<sup>1</sup> <br>| 65887655 |
| Net asset value per share | $17.29 |

---

<sup>1</sup> The Fund has an unlimited number of authorized shares.

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

26 \| Allspring Managed Account

------

Statement of operations—six months ended February 28, 2026 (unaudited)

Statement of operations

---

| | |
|:---|:---|
| Investment income |  |
| Interest (net of foreign withholding taxes of $301) | $26387641 |
| Income from affiliated securities | 423262 |
| Dividends | 240762 |
| **Total investment income** | **27051665** |
| Expenses |  |
| Custody and accounting fees | 46748 |
| Professional fees | 13573 |
| Registration fees | 54054 |
| Shareholder report expenses | 16278 |
| Trustees' fees and expenses | 8131 |
| Other fees and expenses | 24924 |
| **Total expenses** | **163708** |
| Less: Fee waivers and/or expense reimbursements | (163708)<br>|
| **Net expenses** | **0** |
| **Net investment income** | **27051665** |
| Realized and unrealized gains (losses) on investments |  |
| Net realized gains (losses) on |  |
| Unaffiliated securities (net of foreign capital gains tax of $17,854) | 9493554 |
| Foreign currency and foreign currency translations | (835258)<br>|
| Forward foreign currency contracts | (3098294)<br>|
| Futures contracts | 1517090 |
| Swap contracts | 83830 |
| **Net realized gains on investments**  | **7160922** |
| Net change in unrealized gains (losses) on |  |
| Unaffiliated securities (net of deferred foreign capital gains tax of $12,400) | 4545135 |
| Foreign currency and foreign currency translations | (5941)<br>|
| Forward foreign currency contracts | (163675)<br>|
| Futures contracts | (804402)<br>|
| Swap contracts | 67116 |
| **Net change in unrealized gains (losses) on investments** | **3638233** |
| **Net realized and unrealized gains (losses) on investments** | **10799155** |
| **Net increase in net assets resulting from operations** | **$37850820** |

---

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

Allspring Managed Account \| 27

------

Statement of changes in net assets

Statement of changes in net assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six months ended<br> February 28, 2026<br> (unaudited) | Six months ended<br> February 28, 2026<br> (unaudited) | Year ended<br> August 31, 2025 | Year ended<br> August 31, 2025 |
| Operations |  |  |  |  |
| Net investment income |  | &nbsp;&nbsp; $27051665 |  | &nbsp;&nbsp; $36809639 |
| Net realized gains (losses) on investments |  | &nbsp;&nbsp; 7160922 |  | &nbsp;&nbsp; (11311745)<br>|
| Net change in unrealized gains (losses) on investments |  | &nbsp;&nbsp; 3638233 |  | &nbsp;&nbsp; 10480717 |
| **Net increase in net assets resulting from operations** |  | &nbsp;&nbsp; **37850820** |  | &nbsp;&nbsp; **35978611** |
| Distributions to shareholders from |  |  |  |  |
| Net investment income and net realized gains |  | &nbsp;&nbsp; (26425552)<br>|  | &nbsp;&nbsp; (35672331)<br>|
| Capital share transactions | Shares |  | &nbsp;&nbsp; Shares |  |
| Proceeds from shares sold | 15950424 | &nbsp;&nbsp; 274341465 | &nbsp;&nbsp; 48450624 | &nbsp;&nbsp; 825886410 |
| Reinvestment of distributions | 30 | &nbsp;&nbsp; 517 | &nbsp;&nbsp; 2535 | &nbsp;&nbsp; 44160 |
| Payment for shares redeemed | (3796325)<br>| &nbsp;&nbsp; (65295780)<br>| &nbsp;&nbsp; (8071091)<br>| &nbsp;&nbsp; (136960699)<br>|
| **Net increase in net assets resulting from capital share transactions** |  | &nbsp;&nbsp; **209046202** |  | &nbsp;&nbsp; **688969871** |
| **Total increase in net assets** |  | &nbsp;&nbsp; **220471470** |  | &nbsp;&nbsp; **689276151** |
| Net assets |  |  |  |  |
| **Beginning of period** |  | &nbsp;&nbsp; **918687241** |  | &nbsp;&nbsp; **229411090** |
| **End of period** |  | &nbsp;&nbsp; **$1139158711** |  | &nbsp;&nbsp; **$918687241** |

---

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

28 \| Allspring Managed Account

------

Financial highlights

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021<sup>1</sup> <br>|
| **Net asset value, beginning of period** | **$17.10** | &nbsp;&nbsp; **$17.18** | &nbsp;&nbsp; **$16.65** | &nbsp;&nbsp; **$17.22** | &nbsp;&nbsp; **$20.27** | &nbsp;&nbsp; **$20.00** |
| Net investment income | 0.45 <br><sup>2</sup><br>| 0.93 <br><sup>2</sup><br>| 0.99 <br><sup>2</sup><br>| 0.76 <br><sup>2</sup><br>| 0.57 | 0.14 |
| Net realized and unrealized gains (losses) on investments | 0.18 | &nbsp;&nbsp; (0.14)<br>| 0.45 | &nbsp;&nbsp; (0.62)<br>| &nbsp;&nbsp; (2.86)<br>| 0.13 |
| Total from investment operations | 0.63 | 0.79 | 1.44 | 0.14 | &nbsp;&nbsp; (2.29)<br>| 0.27 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.44)<br>| &nbsp;&nbsp; (0.87)<br>| &nbsp;&nbsp; (0.91)<br>| &nbsp;&nbsp; (0.71)<br>| &nbsp;&nbsp; (0.72)<br>| 0.00 |
| Net realized gains | 0.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.04)<br>| 0.00 |
| Total distributions to shareholders | (0.44)<br>| &nbsp;&nbsp; (0.87)<br>| &nbsp;&nbsp; (0.91)<br>| &nbsp;&nbsp; (0.71)<br>| &nbsp;&nbsp; (0.76)<br>| 0.00 |
| **Net asset value, end of period** | **$17.29** | &nbsp;&nbsp; **$17.10** | &nbsp;&nbsp; **$17.18** | &nbsp;&nbsp; **$16.65** | &nbsp;&nbsp; **$17.22** | &nbsp;&nbsp; **$20.27** |
| **Total return**<sup>3</sup> <br>| **3.72%**<br>| **4.77%**<br>| **8.97%**<br>| **0.95%**<br>| &nbsp;&nbsp; **(11.59)%**<br>| **1.35%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.03<br> %<br>| 0.04<br> %<br>| 0.16<br> %<br>| 0.69<br> %<br>| 0.96<br> %<br>| 0.83<br> %<br>|
| Net expenses<sup>4</sup> <br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>| 0.00<br> %<br>|
| Net investment income | 5.29<br> %<br>| 5.48<br> %<br>| 5.89<br> %<br>| 4.53<br> %<br>| 3.04<br> %<br>| 2.75<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 138<br> %<br>| &nbsp;&nbsp; 315<br> %<br>| &nbsp;&nbsp; 291<br> %<br>| &nbsp;&nbsp; 249<br> %<br>| &nbsp;&nbsp; 125<br> %<br>| &nbsp;&nbsp; 27<br> %<br>|
| Net assets, end of period (000s omitted) | $1139159 | &nbsp;&nbsp; $918687 | &nbsp;&nbsp; $229411 | &nbsp;&nbsp; $27873 | &nbsp;&nbsp; $22642 | &nbsp;&nbsp; $25337 |

---

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

<sup>1</sup> For the period from June 2, 2021 (commencement of operations) to August 31, 2021

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

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

<sup>4</sup> The manager has contractually committed to irrevocably absorb and pay or reimburse all ordinary operating expenses of the Fund, except portfolio transactions or other investment-related costs (e.g., commissions), fees payable for services provided by the Fund's securities lending agent (if any), interest, taxes, leverage expenses, and other expenses not incurred in the ordinary course of the Fund's business. This commitment has an indefinite term. 

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

Allspring Managed Account \| 29

------

Notes to financial statements (unaudited)

Notes to financial statements

1. ORGANIZATION

Allspring Funds Trust (the "Trust"), a Delaware statutory trust organized on March 10, 1999, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act"). As an investment company, the Trust follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*. These financial statements report on the Allspring Managed Account CoreBuilder Shares® - Series CP (the "Fund") which is a diversified series of the Trust.

The Fund is a special purpose fund invested primarily in debt securities and is intended to be used in combination with selected individual securities to effectively model institutional-level investment strategies. The Fund is intended to help enable certain separately managed account investors to achieve greater diversification than smaller managed accounts might otherwise achieve.

2. SIGNIFICANT ACCOUNTING POLICIES

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

Securities valuation

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

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

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

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

Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange and therefore may not fully reflect trading or events that occur after the close of the principal exchange in which the foreign securities are traded, but before the close of the New York Stock Exchange. If such trading or events are expected to materially affect the value of such securities, then fair value pricing procedures implemented by Allspring Funds Management are applied. These procedures take into account multiple factors including movements in U.S. securities markets after foreign exchanges close. Foreign securities that are fair valued under these procedures are categorized as Level 2 and the application of these procedures may result in transfers between Level 1 and Level 2. Depending on market activity, such fair valuations may be frequent. Such fair value pricing may result in net asset values that are higher or lower than net asset values based on the last reported sales price or latest quoted bid price. On February 28, 2026, such fair value pricing was not used in pricing foreign securities.

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

Swap contracts are valued at the evaluated price provided by an independent pricing service or, if a reliable price is not available, the quoted bid price from an independent broker-dealer.

Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.

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

Foreign currency translation

The accounting records of the Fund are maintained in U.S. dollars. The values of other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee. Purchases and sales of securities, and income and expenses are converted at the rate of exchange on the respective dates of such

30 \| Allspring Managed Account

------

Notes to financial statements (unaudited)

transactions. Net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the U.S. dollar equivalent of the amounts actually paid or received. Net unrealized foreign exchange gains and losses arise from changes in the fair value of assets and liabilities other than investments in securities resulting from changes in exchange rates. The changes in net assets arising from changes in exchange rates of securities and the changes in net assets resulting from changes in market prices of securities are not separately presented. Such changes are included in net realized and unrealized gains or losses from investments.

When-issued transactions

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

Loans

The Fund may invest in direct debt instruments which are interests in amounts owed to lenders by corporate or other borrowers. The loans pay interest at rates which are periodically reset by reference to a base lending rate plus a spread. Investments in loans may be in the form of participations in loans or assignments of all or a portion of loans from third parties. When the Fund purchases participations, it generally has no rights to enforce compliance with the terms of the loan agreement with the borrower. As a result, the Fund assumes the credit risk of both the borrower and the lender that is selling the participation. When the Fund purchases assignments from lenders, it acquires direct rights against the borrower on the loan and may enforce compliance by the borrower with the terms of the loan agreement. Loans may include fully funded term loans or unfunded loan commitments, which are contractual obligations for future funding. Unfunded loan commitments represent the remaining obligation of the Fund to the borrower. At any point in time, up to the maturity date of the issue, the borrower may demand the unfunded portion. Unfunded amounts, if any, are marked to market and any unrealized gains or losses are recorded in the Statement of assets and liabilities.

Forward foreign currency contracts

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

Futures contracts

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

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

Swap contracts

Swap contracts are agreements between the Fund and a counterparty to exchange a series of cash flows over a specified period. Swap agreements are privately negotiated contracts between the Fund that are entered into as bilateral contracts in the over-the-counter market or centrally cleared ("centrally cleared swaps") with a central clearinghouse.

The Fund entered into centrally cleared swaps. In a centrally cleared swap, immediately following execution of the swap contract, the swap contract is novated to a central counterparty (the "CCP") and the Fund's counterparty on the swap agreement becomes the CCP. Upon entering into a centrally cleared swap, the Fund is required to deposit an initial margin with the broker in the form of cash or securities. Securities deposited as initial margin are designated in the Portfolio of investments and cash deposited is shown as cash segregated for centrally cleared swaps in the Statement of assets and liabilities. Pursuant to the contract, the Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value

Allspring Managed Account \| 31

------

Notes to financial statements (unaudited)

of the contract ("variation margin"). The variation margin is recorded as an unrealized gain (or loss) and shown as variation margin receivable (or payable) on centrally cleared swaps in the Statement of assets and liabilities. Payments received from (paid to) the counterparty are recorded as realized gains (losses) in the Statement of operations when the contract is closed.

***Credit default swaps***

The Fund may enter into credit default swaps for hedging or speculative purposes to provide or receive a measure of protection against default on a referenced entity, obligation or index or a basket of single-name issuers or traded indexes. An index credit default swap references all the names in the index, and if a credit event is triggered, the credit event is settled based on that name's weight in the index. Credit default swaps are agreements in which the protection buyer pays fixed periodic payments to the protection seller in consideration for a promise from the protection seller to make a specific payment should a negative credit event take place with respect to the referenced entity (e.g., bankruptcy, failure to pay, obligation acceleration, repudiation, moratorium or restructuring).

The Fund may enter into credit default swaps as either the seller of protection or the buyer of protection. If the Fund is the buyer of protection and a credit event occurs, the Fund will either receive from the seller an amount equal to the notional amount of the swap and deliver the referenced security or underlying securities comprising the index, or receive a net settlement of cash equal to the notional amount of the swap less the recovery value of the security or underlying securities comprising the index. If the Fund is the seller of protection and a credit event occurs, the Fund will either pay the buyer an amount equal to the notional amount of the swap and take delivery of the referenced security or underlying securities comprising the index or pay a net settlement of cash equal to the notional amount of the swap less the recovery value of the security or underlying securities comprising the index.

As the seller of protection, the Fund is subject to investment exposure on the notional amount of the swap and has assumed the risk of default of the underlying security or index. As the buyer of protection, the Fund could be exposed to risks if the seller of the protection defaults on its obligation to perform, or if there are unfavorable changes in the fluctuation of interest rates.

By entering into credit default swap contracts, the Fund is exposed to credit risk. In addition, certain credit default swap contracts entered into by the Fund provide for conditions that result in events of default or termination that enable the counterparty to the agreement to cause an early termination of the transactions under those agreements.

Mortgage dollar roll transactions

The Fund may engage in mortgage dollar roll transactions through To Be Announced (TBA) mortgage-backed securities issued by Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC). In a mortgage dollar roll transaction, the Fund sells a mortgage-backed security to a financial institution, such as a bank or broker-dealer and simultaneously agrees to repurchase a substantially similar security from the institution at a later date at an agreed upon price. The mortgage-backed securities that are repurchased will bear the same interest rate as those sold, but generally will be collateralized by different pools of mortgages with different pre-payment histories. During the roll period, the Fund foregoes principal and interest paid on the securities. The Fund is compensated by the difference between the current sales price and the forward price for the future purchase as well as by the earnings on the cash proceeds of the initial sale. Mortgage dollar rolls may be renewed without physical delivery of the securities subject to the contract. The Fund accounts for TBA dollar roll transactions as purchases and sales which, as a result, may increase its portfolio turnover rate.

Security transactions and income recognition

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

Interest income is accrued daily and bond discounts are accreted and premiums are amortized daily. To the extent debt obligations are placed on non-accrual status, any related interest income may be reduced by writing off interest receivables when the collection of all or a portion of interest has been determined to be doubtful based on consistently applied procedures and the fair value has decreased. If the issuer subsequently resumes interest payments or when the collectability of interest is reasonably assured, the debt obligation is removed from non-accrual status. Paydown gains and losses are included in interest income.

Dividend income is recognized on the ex-dividend date.

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

Income is recorded net of foreign taxes withheld where recovery of such taxes is not assured.

Income dividends and capital gain distributions from investment companies are recorded on the ex-dividend date. Capital gain distributions from investment companies are treated as realized gains.

Distributions to shareholders

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

32 \| Allspring Managed Account

------

Notes to financial statements (unaudited)

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

Federal and other taxes

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

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

As of February 28, 2026, the aggregate cost of all investments for federal income tax purposes was $1,210,090,716 and the unrealized gains (losses) consisted of:

---

| | |
|:---|:---|
| Gross unrealized gains | &nbsp;&nbsp; $23211185 |
| Gross unrealized losses | &nbsp;&nbsp; (9028292)<br>|
| **Net unrealized gains** | &nbsp;&nbsp; **$14182893** |

---

As of August 31, 2025, the Fund had capital loss carryforwards which consisted of $1,812,554 in short-term capital losses and $3,806,680 in long-term capital losses.

As of August 31, 2025, the Fund had a qualified late-year ordinary loss of $6,443,020 which was recognized on the first day of the current fiscal year.

3. FAIR VALUATION MEASUREMENTS

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

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

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

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

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

Allspring Managed Account \| 33

------

Notes to financial statements (unaudited)

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Agency securities** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $91110295 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $91110295 |
| **Asset-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 233577498 | &nbsp;&nbsp;&nbsp; 211543 | &nbsp;&nbsp;&nbsp; 233789041 |
| **Common stocks** |  |  |  |  |
| *Financials* | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 |
| *Health care* | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 125927 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 125927 |
| **Corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 228718891 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 228718891 |
| **Foreign corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 65819600 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 65819600 |
| **Foreign government bonds** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 107702264 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 107702264 |
| **Investment companies** | &nbsp;&nbsp; 13614893 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 13614893 |
| **Loans** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 310098 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 310098 |
| **Non-agency mortgage-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 111179037 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 111179037 |
| **U.S. Treasury securities** | &nbsp;&nbsp; 228965009 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 228965009 |
| **Yankee corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 98667461 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 98667461 |
| **Yankee government bonds** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 26059105 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 26059105 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 20028110 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 20028110 |
|  | &nbsp;&nbsp; 262608012 | &nbsp;&nbsp;&nbsp; 963270176 | &nbsp;&nbsp;&nbsp; 211543 | &nbsp;&nbsp;&nbsp; 1226089731 |
| **Forward foreign currency contracts** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1011311 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1011311 |
| **Futures contracts** | &nbsp;&nbsp; 1082041 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1082041 |
| **Swap contracts** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 169177 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 169177 |
| **Total assets** | &nbsp;&nbsp; **$263690053** | &nbsp;&nbsp;&nbsp; **$964450664** | &nbsp;&nbsp;&nbsp; **$211543** | &nbsp;&nbsp;&nbsp; **$1228352260** |
| **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** |
| **Forward foreign currency contracts** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $2838312 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $2838312 |
| **Futures contracts** | &nbsp;&nbsp; 1240339 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1240339 |
| **Total liabilities** | &nbsp;&nbsp; **$1240339** | &nbsp;&nbsp;&nbsp; **$2838312** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$4078651** |

---

Futures contracts, forward foreign currency contracts and swap contracts are reported at their cumulative unrealized gains (losses) at measurement date as reported in the tables following the Portfolio of investments. For futures contracts and centrally cleared swap contracts, the current day's variation margin is reported on the Statement of assets and liabilities. All other assets and liabilities are reported at their market value at measurement date.

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

At February 28, 2026, the Fund did not have any transfers into/out of Level 3.

4. TRANSACTIONS WITH AFFILIATES

The Trust has entered into an investment management contract with Allspring Funds Management, a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P. The manager is responsible for implementing investment policies and guidelines and for supervising the subadviser, who is responsible for day-to-day portfolio management of the Fund. For providing these services, Allspring Funds Management does not receive a fee from the Fund but is entitled to receive fees from separately managed account sponsors of the wrap-fee programs. Out of these fees, Allspring Funds Management pays Allspring Global Investments, LLC and Allspring Global Investments (UK) Limited, each an affiliate of Allspring Funds Management and a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, for its services as the subadviser to the Fund.

Generally, no ordinary operating fees or expenses are charged to the Fund. Allspring Funds Management has contractually committed to irrevocably absorb and pay or reimburse all ordinary operating expenses of the Fund including acquired fund fees and expenses, except portfolio transactions or other investment-related costs (e.g., commissions), fees payable for services provided by the Fund's securities lending agent (if any), interest, taxes, leverage expenses, and other expenses not incurred in the ordinary course of the Fund's business. This commitment has an indefinite term.

34 \| Allspring Managed Account

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Notes to financial statements (unaudited)

Interfund transactions

The Fund may purchase or sell portfolio investment securities to certain affiliates pursuant to Rule 17a-7 under the 1940 Act and under procedures adopted by the Board of Trustees. The procedures have been designed to ensure that these interfund transactions, which do not incur broker commissions, are effected at current market prices. Pursuant to these procedures, the Fund did not have any interfund transactions during the six months ended February 28, 2026.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments, excluding short-term securities, for the six months ended February 28, 2026 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| Purchases at cost | Purchases at cost | Sales Proceeds | Sales Proceeds |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1302283773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $471474559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1286860022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $255504535 |

---

6. DERIVATIVE TRANSACTIONS

During the six months ended February 28, 2026, the Fund entered into futures contracts to speculate on interest rates and to help manage the duration of the portfolio. The Fund also entered into forward foreign currency contracts for economic hedging purposes and entered into swap contracts to hedge risks and/or enhance total returns.

The volume of the Fund's derivative activity during the six months ended February 28, 2026 was as follows:

---

| | |
|:---|:---|
| **Forward foreign currency contracts** |  |
| Average contract amounts to buy | &nbsp;&nbsp; $15494042 |
| Average contract amounts to sell | &nbsp;&nbsp; 176526639 |
| **Futures contracts** |  |
| Average notional balance on long futures | &nbsp;&nbsp; $407673228 |
| Average notional balance on short futures | &nbsp;&nbsp; 176836557 |
| **Swap contracts** |  |
| Average notional balance | &nbsp;&nbsp; $9325343 |

---

A summary of the location of derivative instruments on the financial statements by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of February 28, 2026 by primary risk type on the Statement of assets and liabilities was as follows for the Fund:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest rate <br>risk<br>| Credit <br>risk<br>| Foreign Currency <br>risk<br>| Total |
| **Asset derivatives** | **Asset derivatives** | **Asset derivatives** | **Asset derivatives** | **Asset derivatives** |
| Forward foreign currency contracts | &nbsp;&nbsp; $0 | $0 | $1011311 | $1011311 |
| Futures contracts | &nbsp;&nbsp; 1,082,041 <br>\*<br>| 0 | 0 | 1082041 |
| Swap contracts | &nbsp;&nbsp; 0 | 169,177 <br>\*<br>| 0 | 169177 |
|  | &nbsp;&nbsp; $1082041 | $169177 | $1011311 | $2262529 |
| **Liability derivatives** | **Liability derivatives** | **Liability derivatives** | **Liability derivatives** | **Liability derivatives** |
| Forward foreign currency contracts | &nbsp;&nbsp; $0 | $0 | $2838312 | $2838312 |
| Futures contracts | &nbsp;&nbsp; 1,240,339 <br>\*<br>| 0 | 0 | 1240339 |
|  | &nbsp;&nbsp; $1240339 | $0 | $2838312 | $4078651 |

---

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

\* Amount represents the cumulative unrealized gains (losses) as reported in the table following the Portfolio of investments. For futures contracts and centrally cleared swap contracts, only the current day's variation margin as of February 28, 2026 is reported separately on the Statement of assets and liabilities. 

The effect of derivative instruments on the Statement of operations for the six months ended February 28, 2026 was as follows:

Allspring Managed Account \| 35

------

Notes to financial statements (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest rate <br>risk<br>| Credit <br>risk<br>| Foreign currency <br>risk<br>| TOTAL |
| **Net realized gains (losses) on derivatives** | **Net realized gains (losses) on derivatives** | **Net realized gains (losses) on derivatives** | **Net realized gains (losses) on derivatives** | **Net realized gains (losses) on derivatives** |
| Forward foreign currency contracts | &nbsp;&nbsp; $0 | $0 | $(3098294)<br>| $(3098294)<br>|
| Futures contracts | &nbsp;&nbsp; 1517090 | 0 | 0 | 1517090 |
| Swap contracts | &nbsp;&nbsp; 0 | 83830 | 0 | 83830 |
|  | &nbsp;&nbsp; $1517090 | $83830 | $(3098294)<br>| $(1497374)<br>|
| **Net change in unrealized gains (losses) on derivatives** | **Net change in unrealized gains (losses) on derivatives** | **Net change in unrealized gains (losses) on derivatives** | **Net change in unrealized gains (losses) on derivatives** | **Net change in unrealized gains (losses) on derivatives** |
| Forward foreign currency contracts | &nbsp;&nbsp; $0 | $0 | $(163675)<br>| $(163675)<br>|
| Futures contracts | &nbsp;&nbsp; (804402)<br>| 0 | 0 | (804402)<br>|
| Swap contracts | &nbsp;&nbsp; 0 | 67116 | 0 | 67116 |
|  | &nbsp;&nbsp; $(804402)<br>| $67116 | $(163675)<br>| $(900961)<br>|

---

For certain types of derivative transactions, the Fund has entered into International Swaps and Derivatives Association, Inc. master agreements ("ISDA Master Agreements") or similar agreements with approved counterparties. The ISDA Master Agreements or similar agreements may have requirements to deliver/deposit securities or cash to/with an exchange or broker-dealer as collateral and allows the Fund to offset, with each counterparty, certain derivative financial instrument's assets and/or liabilities with collateral held or pledged. Collateral requirements differ by type of derivative. Collateral or margin requirements are set by the broker or exchange clearinghouse for exchange traded derivatives while collateral terms are contract specific for over-the-counter traded derivatives. Cash collateral that has been pledged to cover obligations of the Fund under ISDA Master Agreements or similar agreements, if any, are reported separately in the Statement of assets and liabilities. Securities pledged as collateral, if any, are noted in the Portfolio of investments. With respect to balance sheet offsetting, absent an event of default by the counterparty or a termination of the agreement, the reported amounts of financial assets and financial liabilities in the Statement of assets and liabilities are not offset across transactions between the Fund and the applicable counterparty. A reconciliation of the gross amounts on the Statement of assets and liabilities to the net amounts by counterparty, including any collateral exposure, for OTC derivatives is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Counterparty | Gross amounts <br>of assets in the <br>Statement of <br>Assets and <br>Liabilities<br>| Amounts <br>subject to <br>netting <br>agreements<br>| Collateral <br>received<br>| Net amount <br>of assets<br>|
| Bank of New York Mellon Corp. | &nbsp;&nbsp; $355919 | $(355919)<br>| $0 | $0 |
| Morgan Stanley, Inc. | &nbsp;&nbsp; 287991 | (77582)<br>| 0 | 210409 |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 367401 | (21933)<br>| 0 | 345468 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| Counterparty | Gross amounts <br>of liabilities in the <br>Statement of <br>Assets and <br>Liabilities<br>| Amounts <br>subject to <br>netting <br>agreements<br>| Collateral <br>pledged<sup>1</sup> <br>| Net amount <br>of liabilities<br>|
| Bank of New York Mellon Corp. | &nbsp;&nbsp; $2738797 | $(355919)<br>| $(2260000)<br>| $122878 |
| Morgan Stanley, Inc. | &nbsp;&nbsp; 77582 | (77582)<br>| 0 | 0 |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 21933 | (21933)<br>| 0 | 0 |

---

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

<sup>1</sup> Collateral pledged within this table is limited to the collateral for the net transaction with the counterparty.

7. BANK BORROWINGS

The Fund, together with certain other registered Allspring Funds is party to a $275,000,000 revolving credit agreement whereby the Fund is permitted to use bank borrowings for temporary or emergency purposes, such as to fund shareholder redemption requests. Interest under the credit agreement is charged to the Fund based on a borrowing rate equal to the higher of the Federal Funds rate or the overnight bank funding rate in effect on that day plus a spread. In addition, an annual commitment fee based on the unused balance is allocated to each participating fund.

For the six months ended February 28, 2026, there were no borrowings by the Fund under the agreement.

8. INDEMNIFICATION

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

36 \| Allspring Managed Account

------

Notes to financial statements (unaudited)

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

9. OPERATING SEGMENTS

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

10. NEW ACCOUNTING PRONOUNCEMENT

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

Allspring Managed Account \| 37

------

Other information (unaudited)

Other information

Proxy voting information

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

Quarterly portfolio holdings information

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

38 \| Allspring Managed Account

------

Other information (unaudited)

Item 8. Changes in and disagreements with accountants

Not applicable

Item 9. Matters submitted to fund shareholders for a vote

Not applicable

Item 10. Remuneration paid to directors, officers and others

Refer to information in the Statement of operations.

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

Not applicable

Allspring Managed Account \| 39

------

*This page is intentionally left blank.*

------

![](g132415imge28685e71.jpg)

For more information

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

Allspring Funds

Attn: Managed Account Services

P.O. Box 1450

Milwaukee, WI 53201

Website: **allspringglobal.com**

Telephone: **1-888-877-9275**

![](g132415imgd2df734e2.gif)

*This report and the financial statements contained herein are submitted for the general information of the shareholder of the Fund. If this report is used for promotional purposes, distribution of the report must be accompanied or preceded by a current prospectus. Before investing, please consider the investment objectives, risks, charges, and expenses of the investment. For a current prospectus and, if available, a summary prospectus, containing this information, call* ***1-888-877-9275*** *or visit the Fund's website at* ***allspringglobal.com****. Read the prospectus carefully before you invest or send money.*

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

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

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

**NCSRS4903 02-26**

------

![](g132415imgad3eddb81.jpg)

Allspring Short-Term Bond Plus Fund

Long Form Financial Statements

Semi-Annual Report

February 28, 2026

------

Contents

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

---

| | |
|:---|:---|
| **[Portfolio of investments](#xx_1193508b-7c9f-486c-a3f5-e9fd17634804_POI-PageBlank-99_1)** | 2 |
| **[Item 7. Financial statements and financial highlights](#xx_1193508b-7c9f-486c-a3f5-e9fd17634804_FS-PageBlank-99_1)** |  |
| [Statement of assets and liabilities](#xx_1193508b-7c9f-486c-a3f5-e9fd17634804_FS-PageBlank-99_1) | 18 |
| [Statement of operations](#xx_1193508b-7c9f-486c-a3f5-e9fd17634804_FS-PageBlank-99_3) | 20 |
| [Statement of changes in net assets](#xx_1193508b-7c9f-486c-a3f5-e9fd17634804_FS-PageBlank-99_5) | 22 |
| [Financial highlights](#xx_1193508b-7c9f-486c-a3f5-e9fd17634804_FIHI-PageBlank-99_1) | 23 |
| **[Notes to financial statements](#xx_1193508b-7c9f-486c-a3f5-e9fd17634804_NTF-PageBlank-99_1)** | 26 |
| **[Other information](#xx_1193508b-7c9f-486c-a3f5-e9fd17634804_OI-PageBlank-99_1)** | 34 |
| [Item 8. Changes in and disagreements with accountants](#xx_1193508b-7c9f-486c-a3f5-e9fd17634804_OI-PageBlank-99_2) | 35 |
| [Item 9. Matters submitted to fund shareholders for a vote](#xx_1193508b-7c9f-486c-a3f5-e9fd17634804_OI-PageBlank-99_2) | 35 |
| [Item 10. Remuneration paid to directors, officers and others](#xx_1193508b-7c9f-486c-a3f5-e9fd17634804_OI-PageBlank-99_2) | 35 |
| [Item 11. Statement regarding basis for board](#xx_1193508b-7c9f-486c-a3f5-e9fd17634804_OI-PageBlank-99_2)['](#xx_1193508b-7c9f-486c-a3f5-e9fd17634804_OI-PageBlank-99_2)[s approval of investment](#xx_1193508b-7c9f-486c-a3f5-e9fd17634804_OI-PageBlank-99_2)<br> [advisory contract](#xx_1193508b-7c9f-486c-a3f5-e9fd17634804_OI-PageBlank-99_2)<br>| 35 |

---

Allspring Short-Term Bond Plus Fund \| 1

------

Portfolio of investments—February 28, 2026 (unaudited)

Portfolio of investments

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest <br>rate<br>| Maturity <br>date<br>| Principal | Value |
| **Agency securities: 11.79%** |  |  |  |  |
| FHLMC | 6.50<br> %<br>| &nbsp;&nbsp; 7-1-2055 | $4427155 | &nbsp;&nbsp; $4597193 |
| FHLMC | 6.50 | &nbsp;&nbsp; 9-1-2055 | 1592487 | &nbsp;&nbsp; 1653814 |
| &nbsp;&nbsp; FHLMC Multifamily Structured Pass-Through Certificates <br> Series Q004 Class AFL (12 Month Treasury <br> Average+0.74%)±<br>| 4.66 | &nbsp;&nbsp; 5-25-2044 | 150889 | &nbsp;&nbsp; 150830 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-42 <br> Class A6<br>| 9.50 | &nbsp;&nbsp; 2-25-2042 | 155709 | &nbsp;&nbsp; 187328 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-57 <br> Class 2A1±±<br>| 4.88 | &nbsp;&nbsp; 7-25-2043 | 36707 | &nbsp;&nbsp; 36191 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-59 <br> Class 2A1±±<br>| 4.23 | &nbsp;&nbsp; 10-25-2043 | 364448 | &nbsp;&nbsp; 313250 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.00 | &nbsp;&nbsp; 4-1-2038 | 46264 | &nbsp;&nbsp; 47643 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.50 | &nbsp;&nbsp; 4-1-2032 | 8182 | &nbsp;&nbsp; 8353 |
| FHLMC Series 2597 Class AE | 5.50 | &nbsp;&nbsp; 4-15-2033 | 1820 | &nbsp;&nbsp; 1835 |
| FNMA | 5.00 | &nbsp;&nbsp; 10-1-2039 | 4255302 | &nbsp;&nbsp; 4321920 |
| FNMA | 5.00 | &nbsp;&nbsp; 6-1-2055 | 1515223 | &nbsp;&nbsp; 1523259 |
| FNMA%% | 5.00 | &nbsp;&nbsp; 3-15-2056 | 3505000 | &nbsp;&nbsp; 3520722 |
| FNMA | 6.00 | &nbsp;&nbsp; 3-1-2033 | 15587 | &nbsp;&nbsp; 15973 |
| FNMA | 6.00 | &nbsp;&nbsp; 5-1-2055 | 12551324 | &nbsp;&nbsp; 12875660 |
| FNMA | 6.50 | &nbsp;&nbsp; 8-1-2031 | 58372 | &nbsp;&nbsp; 60524 |
| FNMA | 6.50 | &nbsp;&nbsp; 11-1-2054 | 5081105 | &nbsp;&nbsp; 5276711 |
| FNMA | 6.50 | &nbsp;&nbsp; 9-1-2055 | 1631755 | &nbsp;&nbsp; 1694087 |
| FNMA (1 Year Treasury Constant Maturity+1.27%)± | 4.90 | &nbsp;&nbsp; 8-1-2034 | 12886 | &nbsp;&nbsp; 12866 |
| FNMA (1 Year Treasury Constant Maturity+2.22%)± | 6.09 | &nbsp;&nbsp; 11-1-2031 | 10166 | &nbsp;&nbsp; 10385 |
| FNMA (1 Year Treasury Constant Maturity+2.29%)± | 6.27 | &nbsp;&nbsp; 8-1-2036 | 193014 | &nbsp;&nbsp; 201106 |
| FNMA (RFUCCT1Y+1.77%)± | 6.42 | &nbsp;&nbsp; 7-1-2044 | 144187 | &nbsp;&nbsp; 149274 |
| FNMA Series 2002-T1 Class A4 | 9.50 | &nbsp;&nbsp; 11-25-2031 | 7951 | &nbsp;&nbsp; 8820 |
| FNMA Series 2002-T12 Class A4 | 9.50 | &nbsp;&nbsp; 5-25-2042 | 238418 | &nbsp;&nbsp; 254391 |
| FNMA Series 2003-W11 Class A1±± | 7.27 | &nbsp;&nbsp; 6-25-2033 | 2940 | &nbsp;&nbsp; 2978 |
| FNMA Series 2003-W6 Class 6A±± | 4.84 | &nbsp;&nbsp; 8-25-2042 | 127329 | &nbsp;&nbsp; 128451 |
| FNMA Series 2003-W6 Class PT4±± | 8.08 | &nbsp;&nbsp; 10-25-2042 | 21795 | &nbsp;&nbsp; 23741 |
| FNMA Series 2005-84 Class MB | 5.75 | &nbsp;&nbsp; 10-25-2035 | 31492 | &nbsp;&nbsp; 32536 |
| &nbsp;&nbsp; FNMA Series 2006-W1 Class 2AF2 (30 Day Average <br> U.S. SOFR+0.30%)±<br>| 3.97 | &nbsp;&nbsp; 2-25-2046 | 539657 | &nbsp;&nbsp; 534707 |
| FNMA Series 2011-48 Class CN±± | 4.00 | &nbsp;&nbsp; 6-25-2026 | 1745 | &nbsp;&nbsp; 1740 |
| GNMA | 5.00 | &nbsp;&nbsp; 11-20-2054 | 5801583 | &nbsp;&nbsp; 5829910 |
| GNMA%% | 5.00 | &nbsp;&nbsp; 3-19-2056 | 1515000 | &nbsp;&nbsp; 1520140 |
| GNMA | 5.50 | &nbsp;&nbsp; 6-20-2054 | 7337472 | &nbsp;&nbsp; 7438032 |
| GNMA | 5.50 | &nbsp;&nbsp; 8-20-2054 | 4835193 | &nbsp;&nbsp; 4903675 |
| GNMA | 5.50 | &nbsp;&nbsp; 10-20-2055 | 16757416 | &nbsp;&nbsp; 16994777 |
| GNMA | 6.00 | &nbsp;&nbsp; 8-20-2054 | 4569909 | &nbsp;&nbsp; 4671182 |
| GNMA | 6.00 | &nbsp;&nbsp; 9-20-2055 | 9316626 | &nbsp;&nbsp; 9523437 |
| GNMA Series 2005-27 Class PA | 4.50 | &nbsp;&nbsp; 4-20-2035 | 7025 | &nbsp;&nbsp; 7010 |
| **Total agency securities (Cost $87,804,342)** |  |  |  | &nbsp;&nbsp; **88534451** |
| **Asset-backed securities: 13.36%** |  |  |  |  |
| ACHM Trust Series 2023-HE2 Class A144A±± | 7.50 | &nbsp;&nbsp; 10-25-2038 | 663597 | &nbsp;&nbsp; 699148 |
| Affirm Asset Securitization Trust Series 2024-B Class A144A | 4.62 | &nbsp;&nbsp; 9-15-2029 | 3500000 | &nbsp;&nbsp; 3509158 |

---

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

2 \| Allspring Short-Term Bond Plus Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp; American Credit Acceptance Receivables Trust Series 2024-4 <br> Class B144A<br>| 4.80<br> %<br>| &nbsp;&nbsp; 11-13-2028 | $2594936 | &nbsp;&nbsp; $2597168 |
| Aqua Finance Trust Series 2021-A Class A144A | 1.54 | &nbsp;&nbsp; 7-17-2046 | 572683 | &nbsp;&nbsp; 531536 |
| &nbsp;&nbsp; AREIT Trust Series 2025-CRE11 Class A (U.S. SOFR 1 <br> Month+1.55%)144A±<br>| 5.21 | &nbsp;&nbsp; 7-25-2043 | 2270000 | &nbsp;&nbsp; 2274044 |
| &nbsp;&nbsp; BDS LLC Series 2025-FL14 Class A (U.S. SOFR 1 <br> Month+1.28%)144A±<br>| 4.95 | &nbsp;&nbsp; 10-17-2042 | 450000 | &nbsp;&nbsp; 450491 |
| BHG Securitization Trust Series 2021-A Class A144A | 1.42 | &nbsp;&nbsp; 11-17-2033 | 139546 | &nbsp;&nbsp; 138790 |
| BHG Securitization Trust Series 2021-A Class B144A | 2.79 | &nbsp;&nbsp; 11-17-2033 | 1335000 | &nbsp;&nbsp; 1308411 |
| &nbsp;&nbsp; Blue Owl Asset Leasing Trust LLC Series 2024-1A <br> Class A2144A<br>| 5.05 | &nbsp;&nbsp; 3-15-2029 | 1439323 | &nbsp;&nbsp; 1444717 |
| Bojangles Issuer LLC Series 2024-1A Class A2144A | 6.58 | &nbsp;&nbsp; 11-20-2054 | 2189000 | &nbsp;&nbsp; 2219573 |
| Cajun Global LLC Series 2025-2A Class A2144A | 5.91 | &nbsp;&nbsp; 11-20-2055 | 962588 | &nbsp;&nbsp; 978733 |
| Camber Credit Auto Trust Series 2026-1A Class A144A♦ | 5.63 | &nbsp;&nbsp; 12-15-2031 | 2020000 | &nbsp;&nbsp; 2020000 |
| &nbsp;&nbsp; Carvana Auto Receivables Trust Series 2023-P1 <br> Class A3144A<br>| 5.98 | &nbsp;&nbsp; 12-10-2027 | 25395 | &nbsp;&nbsp; 25414 |
| CFMT LLC Series 2021-AL1 Class B144A | 1.39 | &nbsp;&nbsp; 9-22-2031 | 115074 | &nbsp;&nbsp; 114828 |
| &nbsp;&nbsp; ClickLease Equipment Receivables Trust Series 2024-1 <br> Class C144A<br>| 8.40 | &nbsp;&nbsp; 2-15-2030 | 1357250 | &nbsp;&nbsp; 1373223 |
| Cogent IPv4 LLC Series 2024-1A Class A2144A | 7.92 | &nbsp;&nbsp; 5-25-2054 | 915000 | &nbsp;&nbsp; 956617 |
| Cogent IPv4 LLC Series 2025-1A Class A2144A | 6.65 | &nbsp;&nbsp; 4-25-2055 | 1535000 | &nbsp;&nbsp; 1594593 |
| &nbsp;&nbsp; Commonbond Student Loan Trust Series 2018-BGS <br> Class A1144A<br>| 3.56 | &nbsp;&nbsp; 9-25-2045 | 425924 | &nbsp;&nbsp; 412461 |
| &nbsp;&nbsp; Contimortgage Home Equity Loan Trust Series 1996-2 <br> Class IOƒ±±<br>| 0.00 | &nbsp;&nbsp; 7-15-2027 | 325146 | &nbsp;&nbsp; 3359 |
| &nbsp;&nbsp; Credit Acceptance Auto Loan Trust Series 2023-2A <br> Class A144A<br>| 5.92 | &nbsp;&nbsp; 5-16-2033 | 25122 | &nbsp;&nbsp; 25142 |
| DataBank Issuer LLC Series 2024-1A Class A2144A | 5.30 | &nbsp;&nbsp; 1-26-2054 | 2760000 | &nbsp;&nbsp; 2766638 |
| &nbsp;&nbsp; EquiFirst Mortgage Loan Trust Series 2003-2 Class 3A3 <br> (U.S. SOFR 1 Month+1.24%)±<br>| 4.90 | &nbsp;&nbsp; 9-25-2033 | 58695 | &nbsp;&nbsp; 58924 |
| FIGRE Trust Series 2023-HE2 Class A144A±± | 6.51 | &nbsp;&nbsp; 5-25-2053 | 878236 | &nbsp;&nbsp; 903329 |
| FIGRE Trust Series 2025-HE1 Class C144A±± | 6.03 | &nbsp;&nbsp; 1-25-2055 | 1479741 | &nbsp;&nbsp; 1501825 |
| FirstKey Homes Trust Series 2021-SFR1 Class C144A | 1.89 | &nbsp;&nbsp; 8-17-2038 | 1835000 | &nbsp;&nbsp; 1811185 |
| FirstKey Homes Trust Series 2021-SFR2 Class B144A | 1.61 | &nbsp;&nbsp; 9-17-2038 | 2235000 | &nbsp;&nbsp; 2199535 |
| Five Guys Holdings, Inc. Series 2023-1A Class A2144A | 7.55 | &nbsp;&nbsp; 1-26-2054 | 306125 | &nbsp;&nbsp; 314894 |
| FREED Mortgage Trust Series 2022-HE1 Class A144A±± | 7.00 | &nbsp;&nbsp; 10-25-2037 | 870747 | &nbsp;&nbsp; 896195 |
| &nbsp;&nbsp; FS Rialto Issuer LLC Series 2021-FL3 Class B (U.S. SOFR 1 <br> Month+1.91%)144A±<br>| 5.57 | &nbsp;&nbsp; 11-16-2036 | 2000000 | &nbsp;&nbsp; 2008427 |
| &nbsp;&nbsp; FS Rialto Issuer LLC Series 2025-FL10 Class AS (U.S. SOFR 1 <br> Month+1.59%)144A±<br>| 5.26 | &nbsp;&nbsp; 8-19-2042 | 3000000 | &nbsp;&nbsp; 2999061 |
| &nbsp;&nbsp; FS Rialto Issuer LLC Series 2026-FL11 Class AS (U.S. SOFR 1 <br> Month+1.65%)144A±<br>| 5.30 | &nbsp;&nbsp; 1-19-2044 | 1435000 | &nbsp;&nbsp; 1439936 |
| &nbsp;&nbsp; Gracie Point International Funding LLC Series 2023-2A <br> Class A (90 Day Average U.S. SOFR+2.25%)144A±<br>| 6.45 | &nbsp;&nbsp; 3-1-2027 | 75755 | &nbsp;&nbsp; 75759 |
| &nbsp;&nbsp; Gracie Point International Funding LLC Series 2025-1A <br> Class A (30 Day Average U.S. SOFR+1.50%)144A±<br>| 5.18 | &nbsp;&nbsp; 8-15-2028 | 1545000 | &nbsp;&nbsp; 1547088 |
| Harley-Davidson Motorcycle Trust Series 2023-B Class A3 | 5.69 | &nbsp;&nbsp; 8-15-2028 | 596515 | &nbsp;&nbsp; 601538 |
| Hertz Vehicle Financing III LLC Series 2023-4A Class A144A | 6.15 | &nbsp;&nbsp; 3-25-2030 | 2454000 | &nbsp;&nbsp; 2586049 |
| Hyundai Auto Receivables Trust Series 2024-A Class B | 5.14 | &nbsp;&nbsp; 1-15-2031 | 2500000 | &nbsp;&nbsp; 2567345 |

---

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

Allspring Short-Term Bond Plus Fund \| 3

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp; Imprint Payments Credit Card Master Trust Series 2025-A <br> Class A144A<br>| 4.84<br> %<br>| &nbsp;&nbsp; 9-15-2029 | $2900000 | &nbsp;&nbsp; $2908424 |
| Jonah Energy ABS I LLC Series 2022-1 Class A1144A | 7.20 | &nbsp;&nbsp; 12-10-2037 | 1279106 | &nbsp;&nbsp; 1304438 |
| Lendbuzz Securitization Trust Series 2024-3A Class A2144A | 4.97 | &nbsp;&nbsp; 10-15-2029 | 1955832 | &nbsp;&nbsp; 1957259 |
| Lendmark Funding Trust Series 2024-2A Class A144A | 4.47 | &nbsp;&nbsp; 2-21-2034 | 3000000 | &nbsp;&nbsp; 3012194 |
| Lyra Music Assets Delaware LP Series 2024-2A Class A2144A | 5.76 | &nbsp;&nbsp; 12-22-2064 | 3468135 | &nbsp;&nbsp; 3517457 |
| &nbsp;&nbsp; MF1 Ltd. Series 2021-FL7 Class A (U.S. SOFR 1 <br> Month+1.19%)144A±<br>| 4.86 | &nbsp;&nbsp; 10-16-2036 | 44453 | &nbsp;&nbsp; 44426 |
| &nbsp;&nbsp; MF1 Ltd. Series 2022-FL8 Class A (U.S. SOFR 1 <br> Month+1.35%)144A±<br>| 5.02 | &nbsp;&nbsp; 2-19-2037 | 381399 | &nbsp;&nbsp; 381273 |
| &nbsp;&nbsp; Mission Lane Credit Card Master Trust Series 2024-B <br> Class A144A<br>| 5.88 | &nbsp;&nbsp; 1-15-2030 | 3720000 | &nbsp;&nbsp; 3737737 |
| MNR ABS Issuer I LLC‡ | 8.12 | &nbsp;&nbsp; 12-15-2038 | 510144 | &nbsp;&nbsp; 520347 |
| &nbsp;&nbsp; Navient Private Education Refinance Loan Trust <br> Series 2021-EA Class A144A<br>| 0.97 | &nbsp;&nbsp; 12-16-2069 | 2199153 | &nbsp;&nbsp; 2008546 |
| NBC Funding LLC Series 2024-1A Class A2144A | 6.75 | &nbsp;&nbsp; 7-30-2054 | 2158200 | &nbsp;&nbsp; 2223073 |
| NMEF Funding LLC Series 2026-A Class A3144A | 4.20 | &nbsp;&nbsp; 2-15-2034 | 2641000 | &nbsp;&nbsp; 2651312 |
| Octane Receivables Trust Series 2023-1A Class B144A | 5.96 | &nbsp;&nbsp; 7-20-2029 | 433520 | &nbsp;&nbsp; 434860 |
| &nbsp;&nbsp; OneMain Financial Issuance Trust Series 2023-2A Class A2 <br> (30 Day Average U.S. SOFR+1.50%)144A±<br>| 5.16 | &nbsp;&nbsp; 9-15-2036 | 200000 | &nbsp;&nbsp; 201511 |
| OWN Equipment Fund III LLC Series 2025-2M Class A144A | 5.42 | &nbsp;&nbsp; 3-27-2034 | 1850406 | &nbsp;&nbsp; 1875475 |
| Pagaya AI Debt Grantor Trust Series 2025-6 Class B144A | 4.88 | &nbsp;&nbsp; 4-15-2033 | 979910 | &nbsp;&nbsp; 978892 |
| Pagaya AI Debt Grantor Trust Series 2025-7 Class B144A | 5.06 | &nbsp;&nbsp; 5-15-2033 | 3770000 | &nbsp;&nbsp; 3777528 |
| Pagaya AI Debt Grantor Trust Series 2026-1 Class A2144A | 4.74 | &nbsp;&nbsp; 9-15-2033 | 1890000 | &nbsp;&nbsp; 1891577 |
| Prestige Auto Receivables Trust Series 2024-2A Class B144A | 4.56 | &nbsp;&nbsp; 2-15-2029 | 1745000 | &nbsp;&nbsp; 1744152 |
| &nbsp;&nbsp; Prodigy Finance DAC Series 2021-1A Class A (U.S. SOFR 1 <br> Month+1.36%)144A±<br>| 5.04 | &nbsp;&nbsp; 7-25-2051 | 470485 | &nbsp;&nbsp; 469340 |
| RCKT Mortgage Trust Series 2023-CES3 Class A1A144A±± | 7.11 | &nbsp;&nbsp; 11-25-2043 | 907964 | &nbsp;&nbsp; 917977 |
| &nbsp;&nbsp; RR 5 Ltd. Series 2018-5A Class A1R (U.S. SOFR 3 <br> Month+1.50%)144A±<br>| 5.17 | &nbsp;&nbsp; 7-15-2039 | 2500000 | &nbsp;&nbsp; 2506240 |
| Service Experts Issuer LLC Series 2021-1A Class A144A | 2.67 | &nbsp;&nbsp; 2-2-2032 | 537029 | &nbsp;&nbsp; 530278 |
| Service Experts Issuer LLC Series 2025-1A Class A144A | 5.38 | &nbsp;&nbsp; 1-20-2037 | 1589248 | &nbsp;&nbsp; 1607242 |
| &nbsp;&nbsp; SLM Student Loan Trust Series 2003-10A Class A4 (90 Day <br> Average U.S. SOFR+0.93%)144A±<br>| 5.06 | &nbsp;&nbsp; 12-17-2068 | 1169996 | &nbsp;&nbsp; 1165291 |
| &nbsp;&nbsp; SLM Student Loan Trust Series 2013-1 Class A3 (30 Day <br> Average U.S. SOFR+0.66%)±<br>| 4.33 | &nbsp;&nbsp; 5-26-2055 | 410944 | &nbsp;&nbsp; 408378 |
| Sotheby's ArtFi Master Trust Series 2026-1A Class B144A | 4.90 | &nbsp;&nbsp; 6-20-2033 | 345000 | &nbsp;&nbsp; 346462 |
| &nbsp;&nbsp; SpringCastle America Funding LLC Series 2020-AA <br> Class A144A<br>| 1.97 | &nbsp;&nbsp; 9-25-2037 | 347673 | &nbsp;&nbsp; 329815 |
| &nbsp;&nbsp; Starwood LLC Series 2025-SIF5A Class A (U.S. SOFR 3 <br> Month+1.55%)144A±<br>| 5.22 | &nbsp;&nbsp; 4-15-2037 | 2625000 | &nbsp;&nbsp; 2631607 |
| Store Master Funding I-VII Series 2018-1A Class A2144A | 4.29 | &nbsp;&nbsp; 10-20-2048 | 932504 | &nbsp;&nbsp; 929416 |
| Subway Funding LLC Series 2024-3A Class A2I144A | 5.25 | &nbsp;&nbsp; 7-30-2054 | 1224500 | &nbsp;&nbsp; 1221416 |
| TierPoint Issuer LLC Series 2025-1A Class A2144A | 6.15 | &nbsp;&nbsp; 4-26-2055 | 2200000 | &nbsp;&nbsp; 2244254 |
| &nbsp;&nbsp; Truist Bank Auto Credit-Linked Notes Series 2025-1 <br> Class B144A<br>| 4.73 | &nbsp;&nbsp; 9-26-2033 | 2411345 | &nbsp;&nbsp; 2424867 |
| Vital Care Issuer LLC Series 2025-1A Class A2144A | 6.74 | &nbsp;&nbsp; 1-30-2056 | 455000 | &nbsp;&nbsp; 463409 |
| **Total asset-backed securities (Cost $99,847,293)** |  |  |  | &nbsp;&nbsp; **100321607** |

---

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

4 \| Allspring Short-Term Bond Plus Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Corporate bonds and notes: 31.04%** |  |  |  |  |
| **Basic materials: 0.72%** |  |  |  |  |
| **Chemicals: 0.72%** |  |  |  |  |
| Chemours Co.144A | 5.75<br> %<br>| &nbsp;&nbsp; 11-15-2028 | $1400000 | &nbsp;&nbsp; $1408140 |
| LYB International Finance III LLC | 5.13 | &nbsp;&nbsp; 1-15-2031 | 905000 | &nbsp;&nbsp; 920278 |
| Syensqo Finance America LLC144A | 5.65 | &nbsp;&nbsp; 6-4-2029 | 3000000 | &nbsp;&nbsp; 3116164 |
|  |  |  |  | &nbsp;&nbsp; **5444582** |
| **Communications: 1.47%** |  |  |  |  |
| **Media: 0.98%** |  |  |  |  |
| &nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 6.10 | &nbsp;&nbsp; 6-1-2029 | 2740000 | &nbsp;&nbsp; 2871740 |
| Discovery Communications LLC | 3.63 | &nbsp;&nbsp; 5-15-2030 | 2000000 | &nbsp;&nbsp; 1940000 |
| News Corp.144A | 3.88 | &nbsp;&nbsp; 5-15-2029 | 2620000 | &nbsp;&nbsp; 2556018 |
|  |  |  |  | &nbsp;&nbsp; **7367758** |
| **Telecommunications: 0.49%** |  |  |  |  |
| Frontier California, Inc. Series F | 6.75 | &nbsp;&nbsp; 5-15-2027 | 1975000 | &nbsp;&nbsp; 2024375 |
| &nbsp;&nbsp; Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint <br> Spectrum Co. III LLC144A<br>| 5.15 | &nbsp;&nbsp; 3-20-2028 | 1638900 | &nbsp;&nbsp; 1650252 |
|  |  |  |  | &nbsp;&nbsp; **3674627** |
| **Consumer, cyclical: 3.30%** |  |  |  |  |
| **Airlines: 0.79%** |  |  |  |  |
| &nbsp;&nbsp; Alaska Airlines Pass-Through Trust Series 2020-1 <br> Class A144A<br>| 4.80 | &nbsp;&nbsp; 8-15-2027 | 1692372 | &nbsp;&nbsp; 1706206 |
| American Airlines Pass-Through Trust Series 2015-1 Class A | 3.38 | &nbsp;&nbsp; 5-1-2027 | 2680955 | &nbsp;&nbsp; 2650897 |
| Delta Air Lines, Inc./SkyMiles IP Ltd.144A | 4.75 | &nbsp;&nbsp; 10-20-2028 | 1595000 | &nbsp;&nbsp; 1608792 |
|  |  |  |  | &nbsp;&nbsp; **5965895** |
| **Auto manufacturers: 1.15%** |  |  |  |  |
| Ford Motor Credit Co. LLC | 5.13 | &nbsp;&nbsp; 11-5-2026 | 4000000 | &nbsp;&nbsp; 4023089 |
| Hyundai Capital America144A | 5.65 | &nbsp;&nbsp; 6-26-2026 | 1080000 | &nbsp;&nbsp; 1085427 |
| Volkswagen Group of America Finance LLC144A | 4.90 | &nbsp;&nbsp; 8-14-2026 | 3495000 | &nbsp;&nbsp; 3506344 |
|  |  |  |  | &nbsp;&nbsp; **8614860** |
| **Lodging: 0.51%** |  |  |  |  |
| Las Vegas Sands Corp. | 5.63 | &nbsp;&nbsp; 6-15-2028 | 1500000 | &nbsp;&nbsp; 1536763 |
| Las Vegas Sands Corp. | 6.00 | &nbsp;&nbsp; 8-15-2029 | 2200000 | &nbsp;&nbsp; 2302185 |
|  |  |  |  | &nbsp;&nbsp; **3838948** |
| **Retail: 0.45%** |  |  |  |  |
| Advance Auto Parts, Inc. | 5.95 | &nbsp;&nbsp; 3-9-2028 | 1500000 | &nbsp;&nbsp; 1542079 |
| AutoNation, Inc. | 4.45 | &nbsp;&nbsp; 1-15-2029 | 1800000 | &nbsp;&nbsp; 1813491 |
|  |  |  |  | &nbsp;&nbsp; **3355570** |

---

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

Allspring Short-Term Bond Plus Fund \| 5

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Toys/games/hobbies: 0.40%** |  |  |  |  |
| Mattel, Inc. | 5.00<br> %<br>| &nbsp;&nbsp; 11-17-2030 | $505000 | &nbsp;&nbsp; $512754 |
| Mattel, Inc.144A | 5.88 | &nbsp;&nbsp; 12-15-2027 | 2485000 | &nbsp;&nbsp; 2485566 |
|  |  |  |  | &nbsp;&nbsp; **2998320** |
| **Consumer, non-cyclical: 3.35%** |  |  |  |  |
| **Commercial services: 1.25%** |  |  |  |  |
| Ashtead Capital, Inc.144A | 4.00 | &nbsp;&nbsp; 5-1-2028 | 1600000 | &nbsp;&nbsp; 1590224 |
| Global Payments, Inc. | 4.80 | &nbsp;&nbsp; 4-1-2026 | 3695000 | &nbsp;&nbsp; 3696407 |
| Global Payments, Inc. | 4.88 | &nbsp;&nbsp; 11-15-2030 | 2775000 | &nbsp;&nbsp; 2771746 |
| UL Solutions, Inc. | 6.50 | &nbsp;&nbsp; 10-20-2028 | 1275000 | &nbsp;&nbsp; 1350196 |
|  |  |  |  | &nbsp;&nbsp; **9408573** |
| **Cosmetics/Personal Care: 0.29%** |  |  |  |  |
| &nbsp;&nbsp; Coty, Inc./HFC Prestige Products, Inc./HFC Prestige <br> International U.S. LLC144A<br>| 4.75 | &nbsp;&nbsp; 1-15-2029 | 1000000 | &nbsp;&nbsp; 983554 |
| &nbsp;&nbsp; Coty, Inc./HFC Prestige Products, Inc./HFC Prestige <br> International U.S. LLC144A<br>| 5.60 | &nbsp;&nbsp; 1-15-2031 | 1195000 | &nbsp;&nbsp; 1198792 |
|  |  |  |  | &nbsp;&nbsp; **2182346** |
| **Food: 0.46%** |  |  |  |  |
| Mars, Inc.144A | 4.60 | &nbsp;&nbsp; 3-1-2028 | 3400000 | &nbsp;&nbsp; **3449320** |
| **Healthcare-products: 0.64%** |  |  |  |  |
| Abbott Laboratories%% | 3.70 | &nbsp;&nbsp; 3-9-2029 | 2000000 | &nbsp;&nbsp; 1999883 |
| Thermo Fisher Scientific, Inc. | 4.22 | &nbsp;&nbsp; 2-12-2031 | 2800000 | &nbsp;&nbsp; 2822981 |
|  |  |  |  | &nbsp;&nbsp; **4822864** |
| **Healthcare-services: 0.06%** |  |  |  |  |
| UnitedHealth Group, Inc. | 4.65 | &nbsp;&nbsp; 1-15-2031 | 415000 | &nbsp;&nbsp; **424188** |
| **Pharmaceuticals: 0.65%** |  |  |  |  |
| AdaptHealth LLC144A | 4.63 | &nbsp;&nbsp; 8-1-2029 | 1400000 | &nbsp;&nbsp; 1343279 |
| Cencora, Inc. | 3.95 | &nbsp;&nbsp; 2-13-2029 | 3500000 | &nbsp;&nbsp; 3501486 |
|  |  |  |  | &nbsp;&nbsp; **4844765** |
| **Energy: 0.41%** |  |  |  |  |
| **Pipelines: 0.41%** |  |  |  |  |
| Kinetik Holdings LP144A | 6.63 | &nbsp;&nbsp; 12-15-2028 | 3000000 | &nbsp;&nbsp; **3092760** |
| **Financial: 14.89%** |  |  |  |  |
| **Banks: 5.40%** |  |  |  |  |
| Bank of America Corp. (U.S. SOFR+0.83%)± | 4.98 | &nbsp;&nbsp; 1-24-2029 | 3000000 | &nbsp;&nbsp; 3053598 |
| Bank of America Corp. (U.S. SOFR+1.00%)± | 5.16 | &nbsp;&nbsp; 1-24-2031 | 2000000 | &nbsp;&nbsp; 2075882 |
| Bank of America Corp. Series N (U.S. SOFR+0.91%)± | 1.66 | &nbsp;&nbsp; 3-11-2027 | 2370000 | &nbsp;&nbsp; 2368666 |
| Goldman Sachs Group, Inc. (U.S. SOFR+0.91%)± | 1.95 | &nbsp;&nbsp; 10-21-2027 | 3000000 | &nbsp;&nbsp; 2959618 |
| Goldman Sachs Group, Inc. (U.S. SOFR+0.96%)± | 4.52 | &nbsp;&nbsp; 1-21-2032 | 1640000 | &nbsp;&nbsp; 1650127 |
| Goldman Sachs Group, Inc. (U.S. SOFR 3 Month+1.56%)± | 4.22 | &nbsp;&nbsp; 5-1-2029 | 3725000 | &nbsp;&nbsp; 3736016 |
| JPMorgan Chase & Co. (U.S. SOFR+1.31%)± | 5.01 | &nbsp;&nbsp; 1-23-2030 | 3175000 | &nbsp;&nbsp; 3261807 |
| JPMorgan Chase & Co. (U.S. SOFR+1.33%)± | 6.07 | &nbsp;&nbsp; 10-22-2027 | 3000000 | &nbsp;&nbsp; 3041085 |

---

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

6 \| Allspring Short-Term Bond Plus Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Banks**(continued) |  |  |  |  |
| Morgan Stanley (U.S. SOFR+1.11%)± | 5.23<br> %<br>| &nbsp;&nbsp; 1-15-2031 | $1795000 | &nbsp;&nbsp; $1858871 |
| Morgan Stanley (U.S. SOFR+1.22%)± | 5.04 | &nbsp;&nbsp; 7-19-2030 | 1500000 | &nbsp;&nbsp; 1543416 |
| Morgan Stanley (U.S. SOFR+1.38%)± | 4.99 | &nbsp;&nbsp; 4-12-2029 | 4265000 | &nbsp;&nbsp; 4342726 |
| Morgan Stanley (U.S. SOFR+1.73%)± | 5.12 | &nbsp;&nbsp; 2-1-2029 | 2035000 | &nbsp;&nbsp; 2077190 |
| U.S. Bancorp (U.S. SOFR+1.30%)± | 5.08 | &nbsp;&nbsp; 5-15-2031 | 1600000 | &nbsp;&nbsp; 1655200 |
| Wells Fargo & Co. (U.S. SOFR+1.37%)± | 4.97 | &nbsp;&nbsp; 4-23-2029 | 3820000 | &nbsp;&nbsp; 3894550 |
| Wells Fargo & Co. (U.S. SOFR+1.51%)± | 3.53 | &nbsp;&nbsp; 3-24-2028 | 3000000 | &nbsp;&nbsp; 2984495 |
|  |  |  |  | &nbsp;&nbsp; **40503247** |
| **Diversified financial services: 2.73%** |  |  |  |  |
| Aircastle Ltd.144A | 6.50 | &nbsp;&nbsp; 7-18-2028 | 2650000 | &nbsp;&nbsp; 2785077 |
| Ares Finance Co. II LLC144A | 3.25 | &nbsp;&nbsp; 6-15-2030 | 1045000 | &nbsp;&nbsp; 1000617 |
| Atlas Warehouse Lending Co. LP144A | 4.63 | &nbsp;&nbsp; 11-15-2028 | 2000000 | &nbsp;&nbsp; 2000046 |
| Blackstone Holdings Finance Co. LLC144A | 5.90 | &nbsp;&nbsp; 11-3-2027 | 2145000 | &nbsp;&nbsp; 2207129 |
| Capital One Financial Corp. (U.S. SOFR+1.15%)± | 4.72 | &nbsp;&nbsp; 1-30-2032 | 4400000 | &nbsp;&nbsp; 4430230 |
| Citadel Finance LLC144A | 4.75 | &nbsp;&nbsp; 2-14-2029 | 1500000 | &nbsp;&nbsp; 1492927 |
| Equitable America Global Funding144A | 4.95 | &nbsp;&nbsp; 6-9-2030 | 2235000 | &nbsp;&nbsp; 2283440 |
| Jane Street Group/JSG Finance, Inc.144A | 4.50 | &nbsp;&nbsp; 11-15-2029 | 1300000 | &nbsp;&nbsp; 1268492 |
| TPG Operating Group II LP | 4.88 | &nbsp;&nbsp; 5-15-2031 | 2110000 | &nbsp;&nbsp; 2119347 |
| Western Union Co.%% | 4.75 | &nbsp;&nbsp; 6-15-2029 | 900000 | &nbsp;&nbsp; 902084 |
|  |  |  |  | &nbsp;&nbsp; **20489389** |
| **Insurance: 3.57%** |  |  |  |  |
| Athene Global Funding | 0.37 | &nbsp;&nbsp; 9-10-2026 | 1200000 | &nbsp;&nbsp; 1397728 |
| Athene Global Funding144A | 2.72 | &nbsp;&nbsp; 1-7-2029 | 1150000 | &nbsp;&nbsp; 1091945 |
| Corebridge Global Funding144A | 4.25 | &nbsp;&nbsp; 8-21-2028 | 1790000 | &nbsp;&nbsp; 1795540 |
| Corebridge Global Funding144A | 4.55 | &nbsp;&nbsp; 1-9-2031 | 1085000 | &nbsp;&nbsp; 1088374 |
| Equitable Holdings, Inc.144A | 4.57 | &nbsp;&nbsp; 2-15-2029 | 860000 | &nbsp;&nbsp; 863160 |
| Guardian Life Global Funding144A | 5.55 | &nbsp;&nbsp; 10-28-2027 | 2815000 | &nbsp;&nbsp; 2892025 |
| Lincoln Financial Global Funding144A | 4.63 | &nbsp;&nbsp; 8-18-2030 | 3320000 | &nbsp;&nbsp; 3331411 |
| Northwestern Mutual Global Funding144A | 4.90 | &nbsp;&nbsp; 6-12-2028 | 3000000 | &nbsp;&nbsp; 3062993 |
| PartnerRe Finance B LLC | 3.70 | &nbsp;&nbsp; 7-2-2029 | 1616000 | &nbsp;&nbsp; 1590954 |
| Protective Life Corp.144A | 4.70 | &nbsp;&nbsp; 1-15-2031 | 1130000 | &nbsp;&nbsp; 1140969 |
| Protective Life Global Funding144A | 1.62 | &nbsp;&nbsp; 4-15-2026 | 2370000 | &nbsp;&nbsp; 2363407 |
| RGA Global Funding144A | 5.45 | &nbsp;&nbsp; 5-24-2029 | 3000000 | &nbsp;&nbsp; 3114211 |
| RGA Global Funding144A | 5.50 | &nbsp;&nbsp; 1-11-2031 | 1105000 | &nbsp;&nbsp; 1155862 |
| SiriusPoint Ltd. | 7.00 | &nbsp;&nbsp; 4-5-2029 | 1806000 | &nbsp;&nbsp; 1899196 |
|  |  |  |  | &nbsp;&nbsp; **26787775** |
| **Investment Companies: 1.38%** |  |  |  |  |
| Apollo Debt Solutions BDC144A | 5.70 | &nbsp;&nbsp; 1-23-2031 | 1000000 | &nbsp;&nbsp; 992004 |
| Ares Capital Corp. BDC | 5.10 | &nbsp;&nbsp; 1-15-2031 | 1000000 | &nbsp;&nbsp; 975922 |
| Ares Capital Corp. BDC | 5.88 | &nbsp;&nbsp; 3-1-2029 | 740000 | &nbsp;&nbsp; 753681 |
| Ares Strategic Income Fund BDC | 5.70 | &nbsp;&nbsp; 3-15-2028 | 985000 | &nbsp;&nbsp; 992743 |
| Blue Owl Capital Corp. BDC | 5.95 | &nbsp;&nbsp; 3-15-2029 | 1260000 | &nbsp;&nbsp; 1253531 |
| Golub Capital Private Credit Fund BDC144A | 5.60 | &nbsp;&nbsp; 4-15-2031 | 1840000 | &nbsp;&nbsp; 1792498 |

---

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

Allspring Short-Term Bond Plus Fund \| 7

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Investment Companies**(continued) |  |  |  |  |
| MSD Investment Corp. BDC144A | 6.13<br> %<br>| &nbsp;&nbsp; 2-5-2031 | $1700000 | &nbsp;&nbsp; $1679523 |
| MSD Investment Corp. BDC144A | 6.25 | &nbsp;&nbsp; 5-31-2030 | 1950000 | &nbsp;&nbsp; 1949582 |
|  |  |  |  | &nbsp;&nbsp; **10389484** |
| **REITs: 1.81%** |  |  |  |  |
| American Tower Trust #1144A | 5.49 | &nbsp;&nbsp; 3-15-2028 | 990000 | &nbsp;&nbsp; 1009257 |
| Brandywine Operating Partnership LP | 8.30 | &nbsp;&nbsp; 3-15-2028 | 1140000 | &nbsp;&nbsp; 1203041 |
| Crown Castle, Inc. | 4.90 | &nbsp;&nbsp; 9-1-2029 | 3000000 | &nbsp;&nbsp; 3058988 |
| Piedmont Operating Partnership LP | 9.25 | &nbsp;&nbsp; 7-20-2028 | 980000 | &nbsp;&nbsp; 1079320 |
| SBA Tower Trust144A | 6.60 | &nbsp;&nbsp; 1-15-2028 | 2525000 | &nbsp;&nbsp; 2577424 |
| Tanger Properties LP | 3.13 | &nbsp;&nbsp; 9-1-2026 | 3109000 | &nbsp;&nbsp; 3090914 |
| WEA Finance LLC144A | 2.88 | &nbsp;&nbsp; 1-15-2027 | 1612000 | &nbsp;&nbsp; 1592995 |
|  |  |  |  | &nbsp;&nbsp; **13611939** |
| **Industrial: 2.20%** |  |  |  |  |
| **Electrical components & equipment: 0.49%** |  |  |  |  |
| Molex Electronic Technologies LLC144A | 4.75 | &nbsp;&nbsp; 4-30-2028 | 3630000 | &nbsp;&nbsp; **3679445** |
| **Engineering & construction: 0.73%** |  |  |  |  |
| Jacobs Solutions, Inc.%% | 4.75 | &nbsp;&nbsp; 3-3-2031 | 1870000 | &nbsp;&nbsp; 1872846 |
| MasTec, Inc.144A | 4.50 | &nbsp;&nbsp; 8-15-2028 | 3620000 | &nbsp;&nbsp; 3618475 |
|  |  |  |  | &nbsp;&nbsp; **5491321** |
| **Machinery-diversified: 0.18%** |  |  |  |  |
| Weir Group, Inc.144A | 5.35 | &nbsp;&nbsp; 5-6-2030 | 1300000 | &nbsp;&nbsp; **1345927** |
| **Miscellaneous manufacturing: 0.40%** |  |  |  |  |
| Entegris, Inc.144A | 4.75 | &nbsp;&nbsp; 4-15-2029 | 3000000 | &nbsp;&nbsp; **3002493** |
| **Transportation: 0.40%** |  |  |  |  |
| TTX Co.144A | 5.50 | &nbsp;&nbsp; 9-25-2026 | 3000000 | &nbsp;&nbsp; **3022157** |
| **Technology: 2.33%** |  |  |  |  |
| **Computers: 0.76%** |  |  |  |  |
| Dell International LLC/EMC Corp. | 4.50 | &nbsp;&nbsp; 2-15-2031 | 2315000 | &nbsp;&nbsp; 2326240 |
| Kyndryl Holdings, Inc. | 2.05 | &nbsp;&nbsp; 10-15-2026 | 3465000 | &nbsp;&nbsp; 3411512 |
|  |  |  |  | &nbsp;&nbsp; **5737752** |
| **Semiconductors: 0.67%** |  |  |  |  |
| Broadcom, Inc. | 4.30 | &nbsp;&nbsp; 1-15-2031 | 1875000 | &nbsp;&nbsp; 1891635 |
| Foundry JV Holdco LLC144A | 5.50 | &nbsp;&nbsp; 1-25-2031 | 3000000 | &nbsp;&nbsp; 3130585 |
|  |  |  |  | &nbsp;&nbsp; **5022220** |
| **Software: 0.90%** |  |  |  |  |
| Oracle Corp. | 4.45 | &nbsp;&nbsp; 9-26-2030 | 2810000 | &nbsp;&nbsp; 2755918 |
| Oracle Corp. | 4.55 | &nbsp;&nbsp; 2-4-2029 | 2000000 | &nbsp;&nbsp; 2003796 |
| Oracle Corp. | 4.95 | &nbsp;&nbsp; 2-4-2031 | 2000000 | &nbsp;&nbsp; 1995903 |
|  |  |  |  | &nbsp;&nbsp; **6755617** |

---

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

8 \| Allspring Short-Term Bond Plus Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Utilities: 2.37%** |  |  |  |  |
| **Electric: 2.37%** |  |  |  |  |
| Alliant Energy Finance LLC144A | 5.40<br> %<br>| &nbsp;&nbsp; 6-6-2027 | $2665000 | &nbsp;&nbsp; $2699576 |
| Duke Energy Corp. | 3.10 | &nbsp;&nbsp; 6-15-2028 | 1640000 | &nbsp;&nbsp; 1956124 |
| Emera U.S. Finance LP | 3.55 | &nbsp;&nbsp; 6-15-2026 | 1485000 | &nbsp;&nbsp; 1481991 |
| Niagara Mohawk Power Corp.144A | 4.65 | &nbsp;&nbsp; 10-3-2030 | 1875000 | &nbsp;&nbsp; 1904348 |
| PacifiCorp | 4.25 | &nbsp;&nbsp; 3-15-2029 | 1300000 | &nbsp;&nbsp; 1308801 |
| Southern California Edison Co. | 5.15 | &nbsp;&nbsp; 6-1-2029 | 1945000 | &nbsp;&nbsp; 2000847 |
| Southern California Edison Co. | 5.35 | &nbsp;&nbsp; 3-1-2026 | 2000000 | &nbsp;&nbsp; 2000000 |
| Vistra Operations Co. LLC144A | 3.70 | &nbsp;&nbsp; 1-30-2027 | 355000 | &nbsp;&nbsp; 353360 |
| Vistra Operations Co. LLC144A | 4.30 | &nbsp;&nbsp; 10-15-2028 | 1225000 | &nbsp;&nbsp; 1226263 |
| Vistra Operations Co. LLC144A | 5.00 | &nbsp;&nbsp; 7-31-2027 | 2840000 | &nbsp;&nbsp; 2835905 |
|  |  |  |  | &nbsp;&nbsp; **17767215** |
| **Total corporate bonds and notes (Cost $229,672,580)** |  |  |  | &nbsp;&nbsp; **233091357** |
| **Foreign corporate bonds and notes: 1.27%** |  |  |  |  |
| **Communications: 0.28%** |  |  |  |  |
| **Media: 0.21%** |  |  |  |  |
| Ziggo BV | 2.88 | &nbsp;&nbsp; 1-15-2030 | 1410000 | &nbsp;&nbsp; **1586385** |
| **Telecommunications: 0.07%** |  |  |  |  |
| Eutelsat SA | 1.50 | &nbsp;&nbsp; 10-13-2028 | 400000 | &nbsp;&nbsp; 457371 |
| Lorca Telecom Bondco SA | 4.00 | &nbsp;&nbsp; 9-18-2027 | 74468 | &nbsp;&nbsp; 88074 |
|  |  |  |  | &nbsp;&nbsp; **545445** |
| **Consumer, cyclical: 0.41%** |  |  |  |  |
| **Auto manufacturers: 0.10%** |  |  |  |  |
| RCI Banque SA | 3.88 | &nbsp;&nbsp; 9-30-2030 | 600000 | &nbsp;&nbsp; **728206** |
| **Auto parts & equipment: 0.07%** |  |  |  |  |
| Valeo SE | 5.88 | &nbsp;&nbsp; 4-12-2029 | 400000 | &nbsp;&nbsp; **508339** |
| **Leisure time: 0.08%** |  |  |  |  |
| TUI AG | 5.88 | &nbsp;&nbsp; 3-15-2029 | 500000 | &nbsp;&nbsp; **609071** |
| **Lodging: 0.16%** |  |  |  |  |
| Essendi SA | 6.38 | &nbsp;&nbsp; 10-15-2029 | 1000000 | &nbsp;&nbsp; **1236170** |
| **Consumer, non-cyclical: 0.22%** |  |  |  |  |
| **Commercial services: 0.13%** |  |  |  |  |
| Amber Finco PLC | 6.63 | &nbsp;&nbsp; 7-15-2029 | 400000 | &nbsp;&nbsp; 493339 |
| Verisure Holding AB | 5.50 | &nbsp;&nbsp; 5-15-2030 | 369000 | &nbsp;&nbsp; 449593 |
|  |  |  |  | &nbsp;&nbsp; **942932** |
| **Food: 0.09%** |  |  |  |  |
| Iceland Bondco PLC | 10.88 | &nbsp;&nbsp; 12-15-2027 | 284000 | &nbsp;&nbsp; 404823 |
| Market Bidco Finco PLC | 5.50 | &nbsp;&nbsp; 11-4-2027 | 200000 | &nbsp;&nbsp; 269608 |
|  |  |  |  | &nbsp;&nbsp; **674431** |

---

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

Allspring Short-Term Bond Plus Fund \| 9

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Financial: 0.11%** |  |  |  |  |  |
| **Real estate: 0.11%** |  |  |  |  |  |
| Aroundtown SA | 3.25<br> %<br>| &nbsp;&nbsp; 1-2-2031 | EUR | 700000 | &nbsp;&nbsp; **$814296** |
| **Industrial: 0.25%** |  |  |  |  |  |
| **Building materials: 0.25%** |  |  |  |  |  |
| Heidelberg Materials Finance Luxembourg SA | 3.00 | &nbsp;&nbsp; 7-10-2030 | EUR | 1600000 | &nbsp;&nbsp; **1901336** |
| **Total foreign corporate bonds and notes (Cost $9,042,313)** |  |  |  |  | &nbsp;&nbsp; **9546611** |
| **Foreign government bonds: 2.53%** |  |  |  |  |  |
| **Australia: 0.33%** |  |  |  |  |  |
| Australia | 2.25 | &nbsp;&nbsp; 5-21-2028 | AUD | 1485000 | &nbsp;&nbsp; 1013672 |
| Australia | 2.75 | &nbsp;&nbsp; 11-21-2027 | AUD | 1450000 | &nbsp;&nbsp; 1007427 |
| New South Wales Treasury Corp. | 3.00 | &nbsp;&nbsp; 4-20-2029 | AUD | 715000 | &nbsp;&nbsp; 487627 |
|  |  |  |  |  | &nbsp;&nbsp; **2508726** |
| **Belgium: 0.13%** |  |  |  |  |  |
| Kingdom of Belgium144A | 1.00 | &nbsp;&nbsp; 6-22-2031 | EUR | 885000 | &nbsp;&nbsp; **968766** |
| **Brazil: 0.26%** |  |  |  |  |  |
| Brazil Notas do Tesouro Nacional | 10.00 | &nbsp;&nbsp; 1-1-2031 | BRL | 11000000 | &nbsp;&nbsp; **1921177** |
| **Chile: 0.06%** |  |  |  |  |  |
| Bonos de la Tesoreria de la Republica en pesos144A | 4.70 | &nbsp;&nbsp; 9-1-2030 | CLP | 380000000 | &nbsp;&nbsp; **442505** |
| **Colombia: 0.26%** |  |  |  |  |  |
| Colombia TES | 5.75 | &nbsp;&nbsp; 11-3-2027 | COP | 8300000000 | &nbsp;&nbsp; **1952465** |
| **Czech Republic: 0.13%** |  |  |  |  |  |
| Czech Republic | 5.00 | &nbsp;&nbsp; 9-30-2030 | CZK | 19590000 | &nbsp;&nbsp; **1010147** |
| **France: 0.25%** |  |  |  |  |  |
| French Republic144A | 2.70 | &nbsp;&nbsp; 2-25-2031 | EUR | 1585000 | &nbsp;&nbsp; **1886600** |
| **Luxembourg: 0.26%** |  |  |  |  |  |
| European Union | 2.63 | &nbsp;&nbsp; 7-4-2028 | EUR | 1650000 | &nbsp;&nbsp; **1970137** |
| **Mexico: 0.14%** |  |  |  |  |  |
| Mexico Bonos | 8.50 | &nbsp;&nbsp; 2-28-2030 | MXN | 17915000 | &nbsp;&nbsp; **1063509** |
| **Singapore: 0.13%** |  |  |  |  |  |
| Singapore | 2.88 | &nbsp;&nbsp; 9-1-2030 | SGD | 1135000 | &nbsp;&nbsp; **949366** |
| **South Africa: 0.13%** |  |  |  |  |  |
| Republic of South Africa | 8.00 | &nbsp;&nbsp; 1-31-2030 | ZAR | 14750000 | &nbsp;&nbsp; **952874** |
| **Sweden: 0.13%** |  |  |  |  |  |
| Sweden | 0.13 | &nbsp;&nbsp; 5-12-2031 | SEK | 9800000 | &nbsp;&nbsp; **977369** |

---

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

10 \| Allspring Short-Term Bond Plus Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **United Kingdom: 0.32%** |  |  |  |  |  |
| U.K. Gilts | 3.75<br> %<br>| &nbsp;&nbsp; 3-7-2027 | GBP | 690000 | &nbsp;&nbsp; $931974 |
| U.K. Gilts | 4.38 | &nbsp;&nbsp; 3-7-2030 | GBP | 1035000 | &nbsp;&nbsp; 1430623 |
|  |  |  |  |  | &nbsp;&nbsp; **2362597** |
| **Total foreign government bonds (Cost $18,612,210)** |  |  |  |  | &nbsp;&nbsp; **18966238** |

---

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

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Investment companies: 0.30%** |  |  |
| **Exchange-traded funds: 0.30%** |  |  |
| iShares 0-5 Year High Yield Corporate Bond ETF | 52831 | &nbsp;&nbsp; **2259053** |
| **Total investment companies (Cost $2,170,204)** |  | &nbsp;&nbsp; **2259053** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  |  | Principal |  |
| **Municipal obligations: 0.05%** |  |  |  |  |
| **Indiana: 0.05%** |  |  |  |  |
| **Education revenue: 0.05%** |  |  |  |  |
| &nbsp;&nbsp; Indiana Secondary Market for Education Loans, Inc. <br> (U.S. SOFR 1 Month+0.80%)±<br>| 4.59 | &nbsp;&nbsp; 2-25-2044 | $397004 | &nbsp;&nbsp; **397178** |
| **Total municipal obligations (Cost $393,824)** |  |  |  | &nbsp;&nbsp; **397178** |
| **Non-agency mortgage-backed securities: 10.45%** |  |  |  |  |
| A&D Mortgage Trust Series 2024-NQM3 Class A1144A±± | 6.45 | &nbsp;&nbsp; 7-25-2069 | 2241036 | &nbsp;&nbsp; 2272095 |
| A&D Mortgage Trust Series 2024-NQM5 Class A1144A | 5.70 | &nbsp;&nbsp; 11-25-2069 | 2044108 | &nbsp;&nbsp; 2061522 |
| A&D Mortgage Trust Series 2025-NQM3 Class A1144A±± | 5.37 | &nbsp;&nbsp; 8-25-2070 | 2828047 | &nbsp;&nbsp; 2848522 |
| A&D Mortgage Trust Series 2026-NQM1 Class A1144A±± | 4.91 | &nbsp;&nbsp; 2-25-2071 | 753661 | &nbsp;&nbsp; 755003 |
| Ajax Mortgage Loan Trust Series 2021-E Class A1144A±± | 1.74 | &nbsp;&nbsp; 12-25-2060 | 2298354 | &nbsp;&nbsp; 2057918 |
| Angel Oak Mortgage Trust Series 2020-4 Class A1144A±± | 1.47 | &nbsp;&nbsp; 6-25-2065 | 139822 | &nbsp;&nbsp; 135884 |
| Angel Oak Mortgage Trust Series 2020-R1 Class A1144A±± | 0.99 | &nbsp;&nbsp; 4-25-2053 | 623241 | &nbsp;&nbsp; 600960 |
| Angel Oak Mortgage Trust Series 2024-8 Class A1144A±± | 5.34 | &nbsp;&nbsp; 5-27-2069 | 2214355 | &nbsp;&nbsp; 2227090 |
| BAHA Trust Series 2024-MAR Class B144A±± | 7.07 | &nbsp;&nbsp; 12-10-2041 | 3500000 | &nbsp;&nbsp; 3681571 |
| &nbsp;&nbsp; BHMS Commercial Mortgage Trust Series 2025-ATLS Class B <br> (U.S. SOFR 1 Month+2.55%)144A±<br>| 6.21 | &nbsp;&nbsp; 8-15-2042 | 675000 | &nbsp;&nbsp; 677117 |
| &nbsp;&nbsp; Brean Asset-Backed Securities Trust Series 2021-RM2 <br> Class A144A±±<br>| 1.75 | &nbsp;&nbsp; 10-25-2061 | 1429411 | &nbsp;&nbsp; 1406036 |
| &nbsp;&nbsp; Bunker Hill Loan Depositary Trust Series 2019-3 <br> Class A1144A±±<br>| 2.72 | &nbsp;&nbsp; 11-25-2059 | 35446 | &nbsp;&nbsp; 35273 |
| &nbsp;&nbsp; BX Trust Series 2024-BIO Class C (U.S. SOFR 1 <br> Month+2.64%)144A±<br>| 6.30 | &nbsp;&nbsp; 2-15-2041 | 3010000 | &nbsp;&nbsp; 2984603 |
| &nbsp;&nbsp; BX Trust Series 2025-DELC Class C (U.S. SOFR 1 <br> Month+2.20%)144A±<br>| 5.86 | &nbsp;&nbsp; 12-15-2042 | 1890000 | &nbsp;&nbsp; 1896238 |
| &nbsp;&nbsp; BX Trust Series 2025-VLT6 Class B (U.S. SOFR 1 <br> Month+1.89%)144A±<br>| 5.55 | &nbsp;&nbsp; 3-15-2042 | 2995000 | &nbsp;&nbsp; 2985641 |
| &nbsp;&nbsp; BX Trust Series 2025-VOLT Class B (U.S. SOFR 1 <br> Month+2.10%)144A±<br>| 5.76 | &nbsp;&nbsp; 12-15-2044 | 1655000 | &nbsp;&nbsp; 1658096 |
| &nbsp;&nbsp; CHL Mortgage Pass-Through Trust Series 2001-HYB1 <br> Class 2A1±±<br>| 5.68 | &nbsp;&nbsp; 6-19-2031 | 33450 | &nbsp;&nbsp; 33131 |
| COMM Mortgage Trust Series 2014-CR14 Class B±± | 3.60 | &nbsp;&nbsp; 2-10-2047 | 230580 | &nbsp;&nbsp; 227686 |

---

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

Allspring Short-Term Bond Plus Fund \| 11

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities**(continued) |  |  |  |  |
| CSMC Trust Series 2020-AFC1 Class A3144A±± | 3.51<br> %<br>| &nbsp;&nbsp; 2-25-2050 | $370359 | &nbsp;&nbsp; $357765 |
| CSMC Trust Series 2021-AFC1 Class A2144A±± | 1.07 | &nbsp;&nbsp; 3-25-2056 | 924645 | &nbsp;&nbsp; 801407 |
| &nbsp;&nbsp; Finance of America Structured Securities Trust <br> Series 2024-S2 Class A1144A±±<br>| 3.50 | &nbsp;&nbsp; 4-25-2074 | 2293370 | &nbsp;&nbsp; 2256586 |
| &nbsp;&nbsp; Finance of America Structured Securities Trust <br> Series 2025-S1 Class A1144A<br>| 3.50 | &nbsp;&nbsp; 2-25-2075 | 2364201 | &nbsp;&nbsp; 2307314 |
| &nbsp;&nbsp; FS Trust Series 2026-HULA Class B (U.S. SOFR 1 <br> Month+1.65%)144A±%%<br>| 5.32 | &nbsp;&nbsp; 3-15-2041 | 1165000 | &nbsp;&nbsp; 1165549 |
| &nbsp;&nbsp; FS Trust Series 2026-ORL Class B (U.S. SOFR 1 <br> Month+1.55%)144A±<br>| 5.22 | &nbsp;&nbsp; 2-15-2041 | 650000 | &nbsp;&nbsp; 650000 |
| GCAT Trust Series 2021-NQM1 Class A1144A±± | 0.87 | &nbsp;&nbsp; 1-25-2066 | 729562 | &nbsp;&nbsp; 660563 |
| &nbsp;&nbsp; GS Mortgage Securities Corp. Trust Series 2018-LUAU <br> Class A (U.S. SOFR 1 Month+1.30%)144A±<br>| 4.96 | &nbsp;&nbsp; 11-15-2032 | 1576513 | &nbsp;&nbsp; 1564689 |
| &nbsp;&nbsp; GS Mortgage-Backed Securities Trust Series 2024-HE1 <br> Class A1 (30 Day Average U.S. SOFR+1.60%)144A±<br>| 5.27 | &nbsp;&nbsp; 8-25-2054 | 1754345 | &nbsp;&nbsp; 1761355 |
| GSMPS Mortgage Loan Trust Series 1998-1 Class A144A±± | 8.00 | &nbsp;&nbsp; 9-19-2027 | 81128 | &nbsp;&nbsp; 79794 |
| &nbsp;&nbsp; HAVN Trust Series 2025-MOB Class A (U.S. SOFR 1 <br> Month+1.70%)144A±<br>| 5.36 | &nbsp;&nbsp; 10-15-2035 | 1005000 | &nbsp;&nbsp; 1003116 |
| &nbsp;&nbsp; Hudson's Bay Simon JV Trust Series 2015-HB10 <br> Class A10144A<br>| 4.15 | &nbsp;&nbsp; 8-5-2034 | 2215000 | &nbsp;&nbsp; 2212627 |
| &nbsp;&nbsp; Imperial Fund Mortgage Trust Series 2021-NQM3 <br> Class A1144A±±<br>| 1.60 | &nbsp;&nbsp; 11-25-2056 | 1916172 | &nbsp;&nbsp; 1682974 |
| &nbsp;&nbsp; Imperial Fund Mortgage Trust Series 2022-NQM3 <br> Class A3144A±±<br>| 4.41 | &nbsp;&nbsp; 5-25-2067 | 4005000 | &nbsp;&nbsp; 3730990 |
| JPMorgan Mortgage Trust Series 2020-2 Class A7144A±± | 3.50 | &nbsp;&nbsp; 7-25-2050 | 749301 | &nbsp;&nbsp; 696443 |
| &nbsp;&nbsp; JPMorgan Mortgage Trust Series 2025-7MPR <br> Class A1D144A±±<br>| 5.32 | &nbsp;&nbsp; 2-25-2056 | 1518821 | &nbsp;&nbsp; 1527667 |
| &nbsp;&nbsp; MASTR Adjustable Rate Mortgages Trust Series 2002-3 <br> Class 4A1±±<br>| 6.62 | &nbsp;&nbsp; 10-25-2032 | 630 | &nbsp;&nbsp; 626 |
| &nbsp;&nbsp; Merrill Lynch Golden National MTGE Asset Backed <br> Certificates Series 1998-GN1 Class M2<br>| 8.02 | &nbsp;&nbsp; 2-25-2027 | 34322 | &nbsp;&nbsp; 34136 |
| MFA Trust Series 2020-NQM1 Class A2144A±± | 2.79 | &nbsp;&nbsp; 8-25-2049 | 171705 | &nbsp;&nbsp; 168069 |
| MFA Trust Series 2021-NQM1 Class A2144A±± | 1.38 | &nbsp;&nbsp; 4-25-2065 | 407985 | &nbsp;&nbsp; 386207 |
| &nbsp;&nbsp; Morgan Stanley Capital I Trust Series 2014-150E <br> Class A144A<br>| 3.91 | &nbsp;&nbsp; 9-9-2032 | 2530000 | &nbsp;&nbsp; 2385897 |
| &nbsp;&nbsp; New Residential Mortgage Loan Trust Series 2018-5A <br> Class A1A144A±±<br>| 4.25 | &nbsp;&nbsp; 12-25-2057 | 945863 | &nbsp;&nbsp; 944930 |
| &nbsp;&nbsp; New Residential Mortgage Loan Trust Series 2019-6A <br> Class A1B144A±±<br>| 3.50 | &nbsp;&nbsp; 9-25-2059 | 665321 | &nbsp;&nbsp; 643249 |
| NYMT Loan Trust Series 2022-CP1 Class A1144A | 2.04 | &nbsp;&nbsp; 7-25-2061 | 1509384 | &nbsp;&nbsp; 1433647 |
| RCKT Mortgage Trust Series 2023-CES2 Class A1A144A±± | 6.81 | &nbsp;&nbsp; 9-25-2043 | 564986 | &nbsp;&nbsp; 568480 |
| &nbsp;&nbsp; Residential Mortgage Loan Trust Series 2021-1R <br> Class A2144A±±<br>| 1.10 | &nbsp;&nbsp; 1-25-2065 | 80816 | &nbsp;&nbsp; 78673 |
| ROCK Trust Series 2024-CNTR Class B144A | 5.93 | &nbsp;&nbsp; 11-13-2041 | 4205000 | &nbsp;&nbsp; 4375781 |
| &nbsp;&nbsp; Saluda Grade Alternative Mortgage Trust Series 2024-CES1 <br> Class A1144A±±<br>| 6.31 | &nbsp;&nbsp; 3-25-2054 | 1628301 | &nbsp;&nbsp; 1663170 |
| &nbsp;&nbsp; SDAL Trust Series 2025-DAL Class B (U.S. SOFR 1 <br> Month+2.94%)144A±<br>| 6.60 | &nbsp;&nbsp; 4-15-2042 | 3100000 | &nbsp;&nbsp; 3106548 |

---

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

12 \| Allspring Short-Term Bond Plus Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp; SHR Trust Series 2024-LXRY Class A (U.S. SOFR 1 <br> Month+1.95%)144A±<br>| 5.61<br> %<br>| &nbsp;&nbsp; 10-15-2041 | $3370000 | &nbsp;&nbsp; $3374212 |
| &nbsp;&nbsp; Starwood Mortgage Residential Trust Series 2020-1 <br> Class A3144A±±<br>| 2.56 | &nbsp;&nbsp; 2-25-2050 | 906818 | &nbsp;&nbsp; 875984 |
| &nbsp;&nbsp; SWCH Commercial Mortgage Trust Series 2025-DATA Class C <br> (U.S. SOFR 1 Month+2.09%)144A±<br>| 5.75 | &nbsp;&nbsp; 2-15-2042 | 2100000 | &nbsp;&nbsp; 2089497 |
| Towd Point Mortgage Trust Series 2017-4 Class A1144A±± | 2.75 | &nbsp;&nbsp; 6-25-2057 | 129193 | &nbsp;&nbsp; 127222 |
| Towd Point Mortgage Trust Series 2019-4 Class A1144A±± | 2.90 | &nbsp;&nbsp; 10-25-2059 | 596470 | &nbsp;&nbsp; 579231 |
| Verus Securitization Trust Series 2021-2 Class A1144A±± | 1.03 | &nbsp;&nbsp; 2-25-2066 | 3065757 | &nbsp;&nbsp; 2832258 |
| Verus Securitization Trust Series 2021-8 Class A2144A±± | 2.29 | &nbsp;&nbsp; 11-25-2066 | 1407102 | &nbsp;&nbsp; 1287995 |
| Verus Securitization Trust Series 2021-R1 Class A2144A±± | 1.06 | &nbsp;&nbsp; 10-25-2063 | 32121 | &nbsp;&nbsp; 31279 |
| Verus Securitization Trust Series 2021-R3 Class A1144A±± | 1.02 | &nbsp;&nbsp; 4-25-2064 | 440683 | &nbsp;&nbsp; 423507 |
| Wilshire Funding Corp. Series 1996-3 Class M2±± | 7.69 | &nbsp;&nbsp; 8-25-2032 | 42287 | &nbsp;&nbsp; 42539 |
| Wilshire Funding Corp. Series 1996-3 Class M3±± | 7.69 | &nbsp;&nbsp; 8-25-2032 | 15685 | &nbsp;&nbsp; 13699 |
| &nbsp;&nbsp; Wilshire Funding Corp. Series 1998-WFC2 Class M1 (12 <br> Month Treasury Average+2.00%)±<br>| 6.03 | &nbsp;&nbsp; 12-28-2037 | 1239 | &nbsp;&nbsp; 1234 |
| &nbsp;&nbsp; **Total non-agency mortgage-backed securities** <br> **(Cost $79,478,328)**<br>|  |  |  | &nbsp;&nbsp; **78471295** |
| **U.S. Treasury securities: 15.16%** |  |  |  |  |
| U.S. Treasury Notes | 3.50 | &nbsp;&nbsp; 1-31-2028 | 15000000 | &nbsp;&nbsp; 15028711 |
| U.S. Treasury Notes | 3.50 | &nbsp;&nbsp; 2-15-2029 | 45570000 | &nbsp;&nbsp; 45712406 |
| U.S. Treasury Notes | 3.63 | &nbsp;&nbsp; 8-31-2027 | 31288000 | &nbsp;&nbsp; 31369887 |
| U.S. Treasury Notes | 3.75 | &nbsp;&nbsp; 8-15-2027 | 21480000 | &nbsp;&nbsp; 21572297 |
| U.S. Treasury Notes | 3.88 | &nbsp;&nbsp; 7-31-2027 | 155000 | &nbsp;&nbsp; 155890 |
| **Total U.S. Treasury securities (Cost $113,526,577)** |  |  |  | &nbsp;&nbsp; **113839191** |
| **Yankee corporate bonds and notes: 11.04%** |  |  |  |  |
| **Basic materials: 0.07%** |  |  |  |  |
| **Chemicals: 0.07%** |  |  |  |  |
| Braskem Netherlands Finance BV144A | 4.50 | &nbsp;&nbsp; 1-10-2028 | 1125000 | &nbsp;&nbsp; **508425** |
| **Communications: 1.25%** |  |  |  |  |
| **Media: 0.46%** |  |  |  |  |
| Videotron Ltd.144A | 3.63 | &nbsp;&nbsp; 6-15-2029 | 3515000 | &nbsp;&nbsp; **3436923** |
| **Telecommunications: 0.79%** |  |  |  |  |
| NTT Finance Corp.144A | 4.57 | &nbsp;&nbsp; 7-16-2027 | 3880000 | &nbsp;&nbsp; 3915197 |
| Softbank Corp.144A | 4.70 | &nbsp;&nbsp; 7-9-2030 | 2000000 | &nbsp;&nbsp; 2028901 |
|  |  |  |  | &nbsp;&nbsp; **5944098** |
| **Consumer, cyclical: 0.60%** |  |  |  |  |
| **Apparel: 0.14%** |  |  |  |  |
| Gildan Activewear, Inc.144A | 4.70 | &nbsp;&nbsp; 10-7-2030 | 1085000 | &nbsp;&nbsp; **1091956** |

---

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

Allspring Short-Term Bond Plus Fund \| 13

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Leisure time: 0.46%** |  |  |  |  |
| Carnival Corp.144A | 7.00<br> %<br>| &nbsp;&nbsp; 8-15-2029 | $1365000 | &nbsp;&nbsp; $1428538 |
| Royal Caribbean Cruises Ltd.144A | 4.25 | &nbsp;&nbsp; 7-1-2026 | 2000000 | &nbsp;&nbsp; 1999579 |
|  |  |  |  | &nbsp;&nbsp; **3428117** |
| **Consumer, non-cyclical: 0.72%** |  |  |  |  |
| **Household products/wares: 0.45%** |  |  |  |  |
| Reckitt Benckiser Treasury Services PLC144A | 3.00 | &nbsp;&nbsp; 6-26-2027 | 3430000 | &nbsp;&nbsp; **3396175** |
| **Pharmaceuticals: 0.27%** |  |  |  |  |
| Teva Pharmaceutical Finance Netherlands III BV | 3.15 | &nbsp;&nbsp; 10-1-2026 | 2000000 | &nbsp;&nbsp; **1985328** |
| **Financial: 6.86%** |  |  |  |  |
| **Banks: 5.14%** |  |  |  |  |
| AIB Group PLC (U.S. SOFR+1.65%)144A± | 5.32 | &nbsp;&nbsp; 5-15-2031 | 2405000 | &nbsp;&nbsp; 2498311 |
| Banco Santander SA | 4.55 | &nbsp;&nbsp; 11-6-2030 | 3600000 | &nbsp;&nbsp; 3628751 |
| Bank of Montreal Series J (U.S. SOFR+0.97%)± | 4.44 | &nbsp;&nbsp; 1-14-2032 | 1820000 | &nbsp;&nbsp; 1831767 |
| Banque Federative du Credit Mutuel SA144A | 4.59 | &nbsp;&nbsp; 10-16-2028 | 1500000 | &nbsp;&nbsp; 1518260 |
| Barclays PLC (U.S. SOFR+0.96%)± | 5.09 | &nbsp;&nbsp; 2-25-2029 | 3745000 | &nbsp;&nbsp; 3815324 |
| Canadian Imperial Bank of Commerce (U.S. SOFR+0.79%)± | 4.28 | &nbsp;&nbsp; 1-29-2030 | 1520000 | &nbsp;&nbsp; 1530212 |
| Credit Agricole SA (U.S. SOFR+1.46%)144A± | 5.22 | &nbsp;&nbsp; 5-27-2031 | 3000000 | &nbsp;&nbsp; 3101995 |
| DNB Bank ASA (U.S. SOFR+1.05%)144A± | 4.85 | &nbsp;&nbsp; 11-5-2030 | 3000000 | &nbsp;&nbsp; 3081898 |
| &nbsp;&nbsp; Lloyds Banking Group PLC (1 Year Treasury Constant <br> Maturity+0.60%)±<br>| 4.24 | &nbsp;&nbsp; 2-10-2030 | 2200000 | &nbsp;&nbsp; 2210182 |
| &nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. (1 Year Treasury Constant <br> Maturity+1.17%)±<br>| 5.16 | &nbsp;&nbsp; 4-24-2031 | 1500000 | &nbsp;&nbsp; 1556196 |
| &nbsp;&nbsp; NatWest Group PLC (1 Year Treasury Constant <br> Maturity+1.10%)±<br>| 5.58 | &nbsp;&nbsp; 3-1-2028 | 3200000 | &nbsp;&nbsp; 3250810 |
| Sumitomo Mitsui Financial Group, Inc. | 5.24 | &nbsp;&nbsp; 4-15-2030 | 3000000 | &nbsp;&nbsp; 3131019 |
| Swedbank AB144A | 5.08 | &nbsp;&nbsp; 5-21-2030 | 3550000 | &nbsp;&nbsp; 3677702 |
| &nbsp;&nbsp; UBS Group AG (1 Year Treasury Constant <br> Maturity+0.85%)144A±<br>| 1.49 | &nbsp;&nbsp; 8-10-2027 | 2000000 | &nbsp;&nbsp; 1977610 |
| UBS Group AG (U.S. SOFR+3.73%)144A± | 4.19 | &nbsp;&nbsp; 4-1-2031 | 1785000 | &nbsp;&nbsp; 1779905 |
|  |  |  |  | &nbsp;&nbsp; **38589942** |
| **Diversified financial services: 0.95%** |  |  |  |  |
| Avolon Holdings Funding Ltd.144A | 4.95 | &nbsp;&nbsp; 1-15-2028 | 2500000 | &nbsp;&nbsp; 2533203 |
| Avolon Holdings Funding Ltd.144A | 5.75 | &nbsp;&nbsp; 11-15-2029 | 1000000 | &nbsp;&nbsp; 1045023 |
| Brookfield Asset Management Ltd. | 4.65 | &nbsp;&nbsp; 11-15-2030 | 3500000 | &nbsp;&nbsp; 3537645 |
|  |  |  |  | &nbsp;&nbsp; **7115871** |
| **Insurance: 0.41%** |  |  |  |  |
| RenaissanceRe Holdings Ltd. | 3.60 | &nbsp;&nbsp; 4-15-2029 | 3175000 | &nbsp;&nbsp; **3121135** |
| **Real estate: 0.36%** |  |  |  |  |
| Ontario Teachers' Cadillac Fairview Properties Trust144A | 3.88 | &nbsp;&nbsp; 3-20-2027 | 2687000 | &nbsp;&nbsp; **2685391** |

---

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

14 \| Allspring Short-Term Bond Plus Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Government securities: 0.69%** |  |  |  |  |
| **Multi-national: 0.69%** |  |  |  |  |
| African Export-Import Bank144A | 2.63<br> %<br>| &nbsp;&nbsp; 5-17-2026 | $2185000 | &nbsp;&nbsp; $2174810 |
| Banque Ouest Africaine de Developpement144A | 5.00 | &nbsp;&nbsp; 7-27-2027 | 3000000 | &nbsp;&nbsp; 2994927 |
|  |  |  |  | &nbsp;&nbsp; **5169737** |
| **Industrial: 0.38%** |  |  |  |  |
| **Electronics: 0.24%** |  |  |  |  |
| Flex Ltd. | 4.88 | &nbsp;&nbsp; 6-15-2029 | 1790000 | &nbsp;&nbsp; **1823600** |
| **Trucking & leasing: 0.14%** |  |  |  |  |
| SMBC Aviation Capital Finance DAC144A | 5.45 | &nbsp;&nbsp; 5-3-2028 | 1005000 | &nbsp;&nbsp; **1031644** |
| **Utilities: 0.47%** |  |  |  |  |
| **Electric: 0.47%** |  |  |  |  |
| Comision Federal de Electricidad144A | 5.70 | &nbsp;&nbsp; 1-24-2030 | 1500000 | &nbsp;&nbsp; 1536000 |
| Emera, Inc. Series 16-A (U.S. SOFR 3 Month+5.44%)± | 6.75 | &nbsp;&nbsp; 6-15-2076 | 2000000 | &nbsp;&nbsp; 2010014 |
|  |  |  |  | &nbsp;&nbsp; **3546014** |
| **Total yankee corporate bonds and notes (Cost $81,986,473)** |  |  |  | &nbsp;&nbsp; **82874356** |
| **Yankee government bonds: 1.48%** |  |  |  |  |
| **Chile: 0.14%** |  |  |  |  |
| Chile | 4.35 | &nbsp;&nbsp; 4-13-2031 | 1025000 | &nbsp;&nbsp; **1026742** |
| **Israel: 0.50%** |  |  |  |  |
| Israel | 4.50 | &nbsp;&nbsp; 1-13-2031 | 1800000 | &nbsp;&nbsp; 1803315 |
| Israel | 5.38 | &nbsp;&nbsp; 2-19-2030 | 1910000 | &nbsp;&nbsp; 1976337 |
|  |  |  |  | &nbsp;&nbsp; **3779652** |
| **Mexico: 0.37%** |  |  |  |  |
| Mexico | 4.75 | &nbsp;&nbsp; 3-22-2031 | 2800000 | &nbsp;&nbsp; **2778580** |
| **Peru: 0.14%** |  |  |  |  |
| Corp. Financiera de Desarrollo SA144A | 5.50 | &nbsp;&nbsp; 5-6-2030 | 1000000 | &nbsp;&nbsp; **1035845** |
| **Saudi Arabia: 0.33%** |  |  |  |  |
| Saudi144A | 4.13 | &nbsp;&nbsp; 1-12-2029 | 2450000 | &nbsp;&nbsp; **2459798** |
| **Total yankee government bonds (Cost $10,945,257)** |  |  |  | &nbsp;&nbsp; **11080617** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | Yield | Shares |  |
| **Short-term investments: 1.88%** |  |  |  |  |
| **Investment companies: 1.88%** |  |  |  |  |
| Allspring Government Money Market Fund Select Class♠∞## |  | 3.62 | 14062989 | &nbsp;&nbsp; **14062989** |
| **Total short-term investments (Cost $14,062,989)** |  |  |  | &nbsp;&nbsp; **14062989** |
| **Total investments in securities (Cost $747,542,390)** | 100.35<br> %<br>|  |  | &nbsp;&nbsp; 753444943 |
| Other assets and liabilities, net | (0.35)<br>|  |  | &nbsp;&nbsp; (2595391)<br>|
| **Total net assets** | **100.00%**<br>|  |  | &nbsp;&nbsp; **$750849552** |

---

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

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

Allspring Short-Term Bond Plus Fund \| 15

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | |
|:---|:---|
| ± | Variable rate investment. The rate shown is the rate in effect at period end. |
| ±± | The coupon of the security is adjusted based on the principal and/or interest payments received from the underlying pool of mortgages as well as the credit quality <br> and the actual prepayment speed of the underlying mortgages. The rate shown is the rate in effect at period end.<br>|
| %% | The security is purchased on a when-issued basis. |
| 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>|
| ♦ | The security is fair valued in accordance with procedures approved by Allspring Funds Management, LLC. |
| ƒ | Investment in an interest-only security that entitles holders to receive only the interest payments on the underlying mortgages. The principal amount shown is the <br> notional amount of the underlying mortgages. The rate represents the coupon rate.<br>|
| ‡ | Security is valued using significant unobservable inputs. |
| ♠ | The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
| ∞ | The rate represents the 7-day annualized yield at period end. |
| ## | All or a portion of this security is segregated as collateral for when-issued securities. |

---

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

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| AUD | Australian dollar |
| BDC | Business Development Company |
| BRL | Brazilian real |
| CLP | Chile peso |
| COP | Colombian peso |
| CZK | Czech Republic koruna |
| EUR | Euro |
| FHLMC | Federal Home Loan Mortgage Corporation |
| FNMA | Federal National Mortgage Association |
| GBP | Great British pound |
| GNMA | Government National Mortgage Association |
| MXN | Mexican peso |
| REIT | Real estate investment trust |
| RFUCCT1Y | Refinitiv USD IBOR Consumer Cash Fallbacks Term 1-year |
| SEK | Sweden krona |
| SGD | Singapore dollar |
| SOFR | Secured Overnight Financing Rate |
| ZAR | South African rand |

---

**Investments in affiliates**

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| Allspring Government Money Market Fund <br> Select Class<br>| $17743160 | $255793817 | $(259473988)<br>| $0 | $0 | $14062989 | 14062989 | $441402 |

---

**Forward foreign currency contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Currency to be <br>received | Currency to be <br>received | &nbsp;&nbsp;&nbsp; Currency to be <br>delivered | &nbsp;&nbsp;&nbsp; Currency to be <br>delivered | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date<br>| &nbsp;&nbsp; Unrealized <br>gains<br>| &nbsp;&nbsp; Unrealized <br>losses<br>|
| USD | 1518179 | EUR | 1300000 | Bank of New York Mellon Corp. | 3-9-2026 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $(18347)<br>|
| USD | 787712 | EUR | 675000 | Morgan Stanley, Inc. | 3-9-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (10099)<br>|
| USD | 16956724 | EUR | 14500000 | Bank of New York Mellon Corp. | 3-9-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (181450)<br>|
| EUR | 2336000 | USD | 2748500 | Bank of New York Mellon Corp. | 3-9-2026 | &nbsp;&nbsp;&nbsp; 12519 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 1001282 | EUR | 835000 | Bank of New York Mellon Corp. | 3-9-2026 | &nbsp;&nbsp;&nbsp; 14360 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 3684325 | BRL | 20315000 | Bank of New York Mellon Corp. | 3-16-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (265196)<br>|
| BRL | 15050000 | USD | 2858608 | State Street Bank & Trust Co. | 3-16-2026 | &nbsp;&nbsp;&nbsp; 67323 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 2562923 | AUD | 3600000 | Bank of New York Mellon Corp. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 1107 | &nbsp;&nbsp;&nbsp; 0 |

---

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

16 \| Allspring Short-Term Bond Plus Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

**Forward foreign currency contracts** (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Currency to be<br> received | Currency to be<br> received | &nbsp;&nbsp;&nbsp; Currency to be<br> delivered | &nbsp;&nbsp;&nbsp; Currency to be<br> delivered | Counterparty | &nbsp;&nbsp;&nbsp; Settlement<br> date<br>| &nbsp;&nbsp; Unrealized<br> gains<br>| &nbsp;&nbsp; Unrealized<br> losses<br>|
| USD | 952741 | SEK | 8720000 | Morgan Stanley, Inc. | 3-18-2026 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $(13949)<br>|
| USD | 948899 | ZAR | 15210000 | Bank of New York Mellon Corp. | 3-18-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (5260)<br>|
| USD | 459276 | CLP | 392750000 | Morgan Stanley, Inc. | 3-23-2026 | &nbsp;&nbsp;&nbsp; 9277 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 943311 | SGD | 1210000 | Bank of New York Mellon Corp. | 3-23-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (14645)<br>|
| USD | 980176 | CZK | 20420000 | Bank of New York Mellon Corp. | 3-31-2026 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (15804)<br>|
| USD | 1077196 | MXN | 18570000 | State Street Bank & Trust Co. | 3-31-2026 | &nbsp;&nbsp;&nbsp; 1538 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 2184398 | COP | 8098000000 | Morgan Stanley, Inc. | 4-13-2026 | &nbsp;&nbsp;&nbsp; 47759 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 3109851 | GBP | 2278000 | Bank of New York Mellon Corp. | 5-18-2026 | &nbsp;&nbsp;&nbsp; 39126 | &nbsp;&nbsp;&nbsp; 0 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; **$193009** | &nbsp;&nbsp;&nbsp; **$(524750)**<br>|

---

**Futures contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Number of <br>contracts<br>| Expiration <br>date<br>| Notional <br>cost<br>| Notional <br>value<br>| Unrealized <br>gains<br>| Unrealized <br>losses<br>|
| **Long** |  |  |  |  |  |  |
| 2-Year U.S. Treasury Notes | &nbsp;&nbsp; 1315 | &nbsp;&nbsp; 6-30-2026 | &nbsp;&nbsp; $274919291 | &nbsp;&nbsp; $275194571 | &nbsp;&nbsp; $275280 | &nbsp;&nbsp; $0 |
| **Short** |  |  |  |  |  |  |
| 2-Year Euro SCHATZ | &nbsp;&nbsp; (97)<br>| &nbsp;&nbsp; 3-6-2026 | &nbsp;&nbsp; (12250486)<br>| &nbsp;&nbsp; (12267266)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (16780)<br>|
| 5-Year Euro-BOBL Futures | &nbsp;&nbsp; (12)<br>| &nbsp;&nbsp; 3-6-2026 | &nbsp;&nbsp; (1650297)<br>| &nbsp;&nbsp; (1665489)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (15192)<br>|
| 10-Year U.S. Treasury Notes | &nbsp;&nbsp; (107)<br>| &nbsp;&nbsp; 6-18-2026 | &nbsp;&nbsp; (12119236)<br>| &nbsp;&nbsp; (12177938)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (58702)<br>|
| 5-Year U.S. Treasury Notes | &nbsp;&nbsp; (1044)<br>| &nbsp;&nbsp; 6-30-2026 | &nbsp;&nbsp; (114593622)<br>| &nbsp;&nbsp; (114986812)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (393190)<br>|
|  |  |  |  |  | &nbsp;&nbsp; **$275280** | &nbsp;&nbsp; **$(483864)**<br>|

---

**Centrally cleared credit default swap contracts** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference index | Fixed rate | &nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp; Maturity <br>date<br>| Notional <br>amount | Notional <br>amount | Value | Premiums <br>paid <br>(received)<br>| Unrealized <br>gains<br>| Unrealized <br>losses<br>|
| **Buy Protection** |  |  |  |  |  |  |  |  |  |
| Markit CDX North American High Yield <br> Series 44 <br>| 5.00% | Quarterly | 6-20-2030 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 1767150 | &nbsp;&nbsp; $142867 | &nbsp;&nbsp; $111391 | &nbsp;&nbsp; $31476 | &nbsp;&nbsp; $0 |

---

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

Allspring Short-Term Bond Plus Fund \| 17

------

Statement of assets and liabilities—February 28, 2026 (unaudited)

Financial statements

Statement of assets and liabilities

---

| | |
|:---|:---|
| Assets |  |
| Investments in unaffiliated securities, at value (cost $733,479,401) | $739381954 |
| Investments in affiliated securities, at value (cost $14,062,989) | 14062989 |
| Cash | 2421600 |
| Cash at broker segregated for futures contracts | 1990000 |
| Segregated cash for forward foreign currency contracts | 332397 |
| Segregated cash for swap contracts | 116224 |
| Foreign currency, at value (cost $527,421) | 527368 |
| Receivable for interest | 5839019 |
| Receivable for Fund shares sold | 1383047 |
| Receivable for investments sold | 961453 |
| Receivable for daily variation margin on open futures contracts | 369844 |
| Unrealized gains on forward foreign currency contracts | 193009 |
| Principal paydown receivable | 2962 |
| Prepaid expenses and other assets | 78001 |
| **Total assets** | **767659867** |
| Liabilities |  |
| Payable for investments purchased | 14774539 |
| Payable for Fund shares redeemed | 853426 |
| Unrealized losses on forward foreign currency contracts | 524750 |
| Payable for daily variation margin on open futures contracts | 394883 |
| Management fee payable | 99777 |
| Administration fees payable | 53872 |
| Shareholder servicing fees payable | 23930 |
| Payable for daily variation margin on centrally cleared swap contracts | 6993 |
| Accrued expenses and other liabilities | 78145 |
| **Total liabilities** | **16810315** |
| **Total net assets**  | **$750849552** |
| Net assets consist of |  |
| Paid-in capital | $761584860 |
| Total distributable loss | (10735308)<br>|
| **Total net assets** | **$750849552** |

---

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

18 \| Allspring Short-Term Bond Plus Fund

------

Statement of assets and liabilities—February 28, 2026 (unaudited)

Statement of assets and liabilities

---

| | |
|:---|:---|
| Computation of net asset value and offering price per share |  |
| Net assets–Class A | $120454574 |
| Shares outstanding–Class A<sup>1</sup> <br>| 13916817 |
| Net asset value per share–Class A | $8.66 |
| Maximum offering price per share – Class A<sup>2</sup> <br>| $8.84 |
| Net assets–Class R6 | $18266944 |
| Shares outstanding–Class R6<sup>1</sup> <br>| 2113447 |
| Net asset value per share–Class R6 | $8.64 |
| Net assets–Institutional Class | $612128034 |
| Shares outstanding–Institutional Class<sup>1</sup> <br>| 70764258 |
| Net asset value per share–Institutional Class | $8.65 |

---

<sup>1</sup> The Fund has an unlimited number of authorized shares.

<sup>2</sup> Maximum offering price is computed as 100/98 of net asset value. On investments of $100,000 or more, the offering price is reduced.

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

Allspring Short-Term Bond Plus Fund \| 19

------

Statement of operations—six months ended February 28, 2026 (unaudited)

Statement of operations

---

| | |
|:---|:---|
| Investment income |  |
| Interest | $17605184 |
| Income from affiliated securities | 441402 |
| Dividends | 89619 |
| **Total investment income** | **18136205** |
| Expenses |  |
| Management fee | 1322536 |
| Administration fees |  |
| Class A | 88788 |
| Class C | 849 <br><sup>1</sup><br>|
| Class R6 | 2641 |
| Institutional Class | 247439 |
| Shareholder servicing fees |  |
| Class A | 147767 |
| Class C | 1341 <br><sup>1</sup><br>|
| Distribution fee |  |
| Class C | 4025 <br><sup>1</sup><br>|
| Custody and accounting fees | 19283 |
| Professional fees | 41818 |
| Registration fees | 50981 |
| Shareholder report expenses | 25069 |
| Trustees' fees and expenses | 6220 |
| Other fees and expenses | 11742 |
| **Total expenses** | **1970499** |
| Less: Fee waivers and/or expense reimbursements |  |
| Fund-level | (683640)<br>|
| Class A | (60269)<br>|
| **Net expenses** | **1226590** |
| **Net investment income** | **16909615** |

---

<sup>1</sup> For the period from September 1, 2025 to November 14, 2025. Effective at the close of business on November 14, 2025, Class C shares were converted to Class A shares and are no longer offered by the Fund.

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

20 \| Allspring Short-Term Bond Plus Fund

------

Statement of operations—six months ended February 28, 2026 (unaudited)

Statement of operations

---

| | |
|:---|:---|
| Realized and unrealized gains (losses) on investments |  |
| Net realized gains (losses) on |  |
| Unaffiliated securities (net of foreign capital gains tax of $3,813) | $2117444 |
| Foreign currency and foreign currency translations | (186169)<br>|
| Forward foreign currency contracts | (600499)<br>|
| Futures contracts | (500373)<br>|
| Swap contracts | 17597 |
| **Net realized gains on investments**  | **848000** |
| Net change in unrealized gains (losses) on |  |
| Unaffiliated securities (net of deferred foreign capital gains tax of $2,794) | 794796 |
| Foreign currency and foreign currency translations | (909)<br>|
| Forward foreign currency contracts | 1961 |
| Futures contracts | (306306)<br>|
| Swap contracts | 9380 |
| **Net change in unrealized gains (losses) on investments** | **498922** |
| **Net realized and unrealized gains (losses) on investments** | **1346922** |
| **Net increase in net assets resulting from operations** | **$18256537** |

---

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

Allspring Short-Term Bond Plus Fund \| 21

------

Statement of changes in net assets

Statement of changes in net assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six months ended<br> February 28, 2026<br> (unaudited) | Six months ended<br> February 28, 2026<br> (unaudited) | Year ended<br> August 31, 2025 | Year ended<br> August 31, 2025 |
| Operations |  |  |  |  |
| Net investment income |  | &nbsp;&nbsp; $16909615 |  | &nbsp;&nbsp; $33537505 |
| Net realized gains (losses) on investments |  | &nbsp;&nbsp; 848000 |  | &nbsp;&nbsp; (521362)<br>|
| Net change in unrealized gains (losses) on investments |  | &nbsp;&nbsp; 498922 |  | &nbsp;&nbsp; 6622575 |
| **Net increase in net assets resulting from operations** |  | &nbsp;&nbsp; **18256537** |  | &nbsp;&nbsp; **39638718** |
| Distributions to shareholders from |  |  |  |  |
| Net investment income and net realized gains |  |  |  |  |
| Class A |  | &nbsp;&nbsp; (2503002)<br>|  | &nbsp;&nbsp; (5194444)<br>|
| Class C |  | &nbsp;&nbsp; (16382 )<sup>1</sup><br>|  | &nbsp;&nbsp; (96572)<br>|
| Class R6 |  | &nbsp;&nbsp; (404361)<br>|  | &nbsp;&nbsp; (745007)<br>|
| Institutional Class |  | &nbsp;&nbsp; (14057515)<br>|  | &nbsp;&nbsp; (27091796)<br>|
| **Total distributions to shareholders** |  | &nbsp;&nbsp; **(16981260)**<br>|  | &nbsp;&nbsp; **(33127819)**<br>|
| Capital share transactions | Shares |  | &nbsp;&nbsp; Shares |  |
| Proceeds from shares sold |  |  |  |  |
| Class A | 870451 | &nbsp;&nbsp; 7529379 | &nbsp;&nbsp; 1531813 | &nbsp;&nbsp; 13146546 |
| Class C | 36307 <br><sup>1</sup><br>| &nbsp;&nbsp; 314023 <br><sup>1</sup><br>| &nbsp;&nbsp; 95303 | &nbsp;&nbsp; 816477 |
| Class R6 | 286183 | &nbsp;&nbsp; 2472527 | &nbsp;&nbsp; 926475 | &nbsp;&nbsp; 7940105 |
| Institutional Class | 15421547 | &nbsp;&nbsp; 133316435 | &nbsp;&nbsp; 34765380 | &nbsp;&nbsp; 298193415 |
|  |  | &nbsp;&nbsp; 143632364 |  | &nbsp;&nbsp; 320096543 |
| Reinvestment of distributions |  |  |  |  |
| Class A | 277202 | &nbsp;&nbsp; 2391963 | &nbsp;&nbsp; 576752 | &nbsp;&nbsp; 4935516 |
| Class C | 1798 <br><sup>1</sup><br>| &nbsp;&nbsp; 15508 <br><sup>1</sup><br>| &nbsp;&nbsp; 11121 | &nbsp;&nbsp; 95021 |
| Class R6 | 38132 | &nbsp;&nbsp; 328727 | &nbsp;&nbsp; 70330 | &nbsp;&nbsp; 601395 |
| Institutional Class | 1288472 | &nbsp;&nbsp; 11117162 | &nbsp;&nbsp; 2523488 | &nbsp;&nbsp; 21600989 |
|  |  | &nbsp;&nbsp; 13853360 |  | &nbsp;&nbsp; 27232921 |
| Payment for shares redeemed |  |  |  |  |
| Class A | (1155632)<br>| &nbsp;&nbsp; (9992007)<br>| &nbsp;&nbsp; (3193085)<br>| &nbsp;&nbsp; (27360754)<br>|
| Class C | (37741 )<sup>1</sup><br>| &nbsp;&nbsp; (325974 )<sup>1</sup><br>| &nbsp;&nbsp; (188857)<br>| &nbsp;&nbsp; (1618408)<br>|
| Class R6 | (252433)<br>| &nbsp;&nbsp; (2182325)<br>| &nbsp;&nbsp; (644712)<br>| &nbsp;&nbsp; (5520187)<br>|
| Institutional Class | (19939553)<br>| &nbsp;&nbsp; (172337597)<br>| &nbsp;&nbsp; (20444193)<br>| &nbsp;&nbsp; (175353639)<br>|
|  |  | &nbsp;&nbsp; (184837903)<br>|  | &nbsp;&nbsp; (209852988)<br>|
| Share conversions |  |  |  |  |
| Class A | 307494 | &nbsp;&nbsp; 2655670 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| Class C | (308182 )<sup>2</sup><br>| &nbsp;&nbsp; (2655670 )<sup>2</sup><br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp; 0 |  | &nbsp;&nbsp; 0 |
| **Net increase (decrease) in net assets resulting from capital share** <br> **transactions**<br>|  | &nbsp;&nbsp; **(27352179)**<br>|  | &nbsp;&nbsp; **137476476** |
| **Total increase (decrease) in net assets** |  | &nbsp;&nbsp; **(26076902)**<br>|  | &nbsp;&nbsp; **143987375** |
| Net assets |  |  |  |  |
| **Beginning of period** |  | &nbsp;&nbsp; **776926454** |  | &nbsp;&nbsp; **632939079** |
| **End of period** |  | &nbsp;&nbsp; **$750849552** |  | &nbsp;&nbsp; **$776926454** |

---

<sup>1</sup> For the period from September 1, 2025 to November 14, 2025

<sup>2</sup> Effective at the close of business on November 14, 2025, Class C shares were converted to Class A shares and are no longer offered by the Fund.

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

22 \| Allspring Short-Term Bond Plus Fund

------

Financial highlights

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Class A | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$8.64** | &nbsp;&nbsp; **$8.56** | &nbsp;&nbsp; **$8.33** | &nbsp;&nbsp; **$8.41** | &nbsp;&nbsp; **$9.02** | &nbsp;&nbsp; **$9.09** |
| Net investment income | 0.18 <br><sup>1</sup><br>| 0.37 <br><sup>1</sup><br>| 0.34 <br><sup>1</sup><br>| 0.27 | 0.11 <br><sup>1</sup><br>| 0.14 |
| Net realized and unrealized gains (losses) on investments | 0.02 | 0.07 | 0.24 | &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; (0.54)<br>| 0.02 |
| Total from investment operations | 0.20 | 0.44 | 0.58 | 0.18 | &nbsp;&nbsp; (0.43)<br>| 0.16 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.18)<br>| &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp; (0.11)<br>| &nbsp;&nbsp; (0.13)<br>|
| Net realized gains | 0.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.10)<br>|
| Total distributions to shareholders | (0.18)<br>| &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp; (0.23)<br>|
| **Net asset value, end of period** | **$8.66** | &nbsp;&nbsp; **$8.64** | &nbsp;&nbsp; **$8.56** | &nbsp;&nbsp; **$8.33** | &nbsp;&nbsp; **$8.41** | &nbsp;&nbsp; **$9.02** |
| **Total return**<sup>2</sup> <br>| **2.35%**<br>| **5.32%**<br>| **7.12%**<br>| **2.16%**<br>| &nbsp;&nbsp; **(4.83)%**<br>| **1.76%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.79<br> %<br>| 0.80<br> %<br>| 0.80<br> %<br>| 0.81<br> %<br>| 0.81<br> %<br>| 0.81<br> %<br>|
| Net expenses | 0.51<br> %<br>| 0.58<br> %<br>| 0.61<br> %<br>| 0.68<br> %<br>| 0.70<br> %<br>| 0.70<br> %<br>|
| Net investment income | 4.27<br> %<br>| 4.35<br> %<br>| 4.06<br> %<br>| 3.13<br> %<br>| 1.30<br> %<br>| 1.48<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 66<br> %<br>| &nbsp;&nbsp; 182<br> %<br>| &nbsp;&nbsp; 131<br> %<br>| &nbsp;&nbsp; 79<br> %<br>| &nbsp;&nbsp; 65<br> %<br>| &nbsp;&nbsp; 65<br> %<br>|
| Net assets, end of period (000s omitted) | $120455 | &nbsp;&nbsp; $117611 | &nbsp;&nbsp; $125839 | &nbsp;&nbsp; $129076 | &nbsp;&nbsp; $141782 | &nbsp;&nbsp; $175111 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding

<sup>2</sup> Total return calculations do not include any sales charges. Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. 

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

Allspring Short-Term Bond Plus Fund \| 23

------

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Class R6 | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$8.63** | &nbsp;&nbsp; **$8.56** | &nbsp;&nbsp; **$8.33** | &nbsp;&nbsp; **$8.40** | &nbsp;&nbsp; **$9.02** | &nbsp;&nbsp; **$9.08** |
| Net investment income | 0.20 <br><sup>1</sup><br>| 0.40 <br><sup>1</sup><br>| 0.37 <br><sup>1</sup><br>| 0.32 | 0.14 <br><sup>1</sup><br>| 0.16 |
| Net realized and unrealized gains (losses) on investments | 0.01 | 0.07 | 0.24 | &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.56)<br>| 0.03 |
| Total from investment operations | 0.21 | 0.47 | 0.61 | 0.22 | &nbsp;&nbsp; (0.42)<br>| 0.19 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.20)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.15)<br>|
| Net realized gains | 0.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.10)<br>|
| Total distributions to shareholders | (0.20)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.25)<br>|
| **Net asset value, end of period** | **$8.64** | &nbsp;&nbsp; **$8.63** | &nbsp;&nbsp; **$8.56** | &nbsp;&nbsp; **$8.33** | &nbsp;&nbsp; **$8.40** | &nbsp;&nbsp; **$9.02** |
| **Total return**<sup>2</sup> <br>| **2.43%**<br>| **5.59%**<br>| **7.52%**<br>| **2.63%**<br>| &nbsp;&nbsp; **(4.65)%**<br>| **2.18%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.42<br> %<br>| 0.43<br> %<br>| 0.43<br> %<br>| 0.43<br> %<br>| 0.43<br> %<br>| 0.43<br> %<br>|
| Net expenses | 0.24<br> %<br>| 0.24<br> %<br>| 0.24<br> %<br>| 0.35<br> %<br>| 0.40<br> %<br>| 0.40<br> %<br>|
| Net investment income | 4.54<br> %<br>| 4.69<br> %<br>| 4.43<br> %<br>| 3.43<br> %<br>| 1.55<br> %<br>| 1.79<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 66<br> %<br>| &nbsp;&nbsp; 182<br> %<br>| &nbsp;&nbsp; 131<br> %<br>| &nbsp;&nbsp; 79<br> %<br>| &nbsp;&nbsp; 65<br> %<br>| &nbsp;&nbsp; 65<br> %<br>|
| Net assets, end of period (000s omitted) | $18267 | &nbsp;&nbsp; $17618 | &nbsp;&nbsp; $14455 | &nbsp;&nbsp; $12141 | &nbsp;&nbsp; $16575 | &nbsp;&nbsp; $32131 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding <br> <sup>2</sup> Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized.

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

24 \| Allspring Short-Term Bond Plus Fund

------

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Institutional Class | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$8.64** | &nbsp;&nbsp; **$8.56** | &nbsp;&nbsp; **$8.33** | &nbsp;&nbsp; **$8.41** | &nbsp;&nbsp; **$9.03** | &nbsp;&nbsp; **$9.09** |
| Net investment income | 0.19 <br><sup>1</sup><br>| 0.40 <br><sup>1</sup><br>| 0.37 <br><sup>1</sup><br>| 0.29 | 0.13 | 0.15 |
| Net realized and unrealized gains (losses) on investments | 0.02 | 0.07 | 0.24 | &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; (0.55)<br>| 0.04 |
| Total from investment operations | 0.21 | 0.47 | 0.61 | 0.20 | &nbsp;&nbsp; (0.42)<br>| 0.19 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.20)<br>| &nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.15)<br>|
| Net realized gains | 0.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.10)<br>|
| Total distributions to shareholders | (0.20)<br>| &nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.25)<br>|
| **Net asset value, end of period** | **$8.65** | &nbsp;&nbsp; **$8.64** | &nbsp;&nbsp; **$8.56** | &nbsp;&nbsp; **$8.33** | &nbsp;&nbsp; **$8.41** | &nbsp;&nbsp; **$9.03** |
| **Total return**<sup>2</sup> <br>| **2.40%**<br>| **5.65%**<br>| **7.46%**<br>| **2.45%**<br>| &nbsp;&nbsp; **(4.69)%**<br>| **2.13%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.47<br> %<br>| 0.48<br> %<br>| 0.48<br> %<br>| 0.48<br> %<br>| 0.48<br> %<br>| 0.48<br> %<br>|
| Net expenses | 0.29<br> %<br>| 0.29<br> %<br>| 0.29<br> %<br>| 0.39<br> %<br>| 0.45<br> %<br>| 0.45<br> %<br>|
| Net investment income | 4.48<br> %<br>| 4.63<br> %<br>| 4.38<br> %<br>| 3.43<br> %<br>| 1.57<br> %<br>| 1.69<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 66<br> %<br>| &nbsp;&nbsp; 182<br> %<br>| &nbsp;&nbsp; 131<br> %<br>| &nbsp;&nbsp; 79<br> %<br>| &nbsp;&nbsp; 65<br> %<br>| &nbsp;&nbsp; 65<br> %<br>|
| Net assets, end of period (000s omitted) | $612128 | &nbsp;&nbsp; $639043 | &nbsp;&nbsp; $489309 | &nbsp;&nbsp; $431890 | &nbsp;&nbsp; $446610 | &nbsp;&nbsp; $406333 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding <br> <sup>2</sup> Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized.

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

Allspring Short-Term Bond Plus Fund \| 25

------

Notes to financial statements (unaudited)

Notes to financial statements

1. ORGANIZATION

Allspring Funds Trust (the "Trust"), a Delaware statutory trust organized on March 10, 1999, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act"). As an investment company, the Trust follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services* – *Investment Companies*. These financial statements report on the Allspring Short-Term Bond Plus Fund (the "Fund") which is a diversified series of the Trust.

Effective at the close of business on November 14, 2025, Class C shares became Class A shares in a tax-free conversion. Shareholders of Class C received Class A shares at a value equal to the value of their Class C shares immediately prior to the conversion. Class C shares are no longer offered by the Fund.

2. SIGNIFICANT ACCOUNTING POLICIES

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

Securities valuation

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

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

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

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

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

Swap contracts are valued at the evaluated price provided by an independent pricing service or, if a reliable price is not available, the quoted bid price from an independent broker-dealer.

Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.

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

Foreign currency translation

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

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

26 \| Allspring Short-Term Bond Plus Fund

------

Notes to financial statements (unaudited)

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.

Forward foreign currency contracts

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

Futures contracts

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

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

Swap contracts

Swap contracts are agreements between the Fund and a counterparty to exchange a series of cash flows over a specified period. Swap agreements are privately negotiated contracts between the Fund that are entered into as bilateral contracts in the over-the-counter market or centrally cleared ("centrally cleared swaps") with a central clearinghouse.

The Fund entered into centrally cleared swaps. In a centrally cleared swap, immediately following execution of the swap contract, the swap contract is novated to a central counterparty (the "CCP") and the Fund's counterparty on the swap agreement becomes the CCP. Upon entering into a centrally cleared swap, the Fund is required to deposit an initial margin with the broker in the form of cash or securities. Securities deposited as initial margin are designated in the Portfolio of investments and cash deposited is shown as cash segregated for centrally cleared swaps in the Statement of assets and liabilities. Pursuant to the contract, the Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract ("variation margin"). The variation margin is recorded as an unrealized gain (or loss) and shown as variation margin receivable (or payable) on centrally cleared swaps in the Statement of assets and liabilities. Payments received from (paid to) the counterparty are recorded as realized gains (losses) in the Statement of operations when the contract is closed.

***Credit default swaps***

The Fund may enter into credit default swaps for hedging or speculative purposes to provide or receive a measure of protection against default on a referenced entity, obligation or index or a basket of single-name issuers or traded indexes. An index credit default swap references all the names in the index, and if a credit event is triggered, the credit event is settled based on that name's weight in the index. Credit default swaps are agreements in which the protection buyer pays fixed periodic payments to the protection seller in consideration for a promise from the protection seller to make a specific payment should a negative credit event take place with respect to the referenced entity (e.g., bankruptcy, failure to pay, obligation acceleration, repudiation, moratorium or restructuring).

The Fund may enter into credit default swaps as either the seller of protection or the buyer of protection. If the Fund is the buyer of protection and a credit event occurs, the Fund will either receive from the seller an amount equal to the notional amount of the swap and deliver the referenced security or underlying securities comprising the index, or receive a net settlement of cash equal to the notional amount of the swap less the recovery value of the security or underlying securities comprising the index. If the Fund is the seller of protection and a credit event occurs, the Fund will either pay the buyer an amount equal to the notional amount of the swap and take delivery of the referenced security or underlying securities comprising the index or pay a net settlement of cash equal to the notional amount of the swap less the recovery value of the security or underlying securities comprising the index.

Allspring Short-Term Bond Plus Fund \| 27

------

Notes to financial statements (unaudited)

As the seller of protection, the Fund is subject to investment exposure on the notional amount of the swap and has assumed the risk of default of the underlying security or index. As the buyer of protection, the Fund could be exposed to risks if the seller of the protection defaults on its obligation to perform, or if there are unfavorable changes in the fluctuation of interest rates.

By entering into credit default swap contracts, the Fund is exposed to credit risk. In addition, certain credit default swap contracts entered into by the Fund provide for conditions that result in events of default or termination that enable the counterparty to the agreement to cause an early termination of the transactions under those agreements.

Mortgage dollar roll transactions

The Fund may engage in mortgage dollar roll transactions through To Be Announced (TBA) mortgage-backed securities issued by Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC). In a mortgage dollar roll transaction, the Fund sells a mortgage-backed security to a financial institution, such as a bank or broker-dealer and simultaneously agrees to repurchase a substantially similar security from the institution at a later date at an agreed upon price. The mortgage-backed securities that are repurchased will bear the same interest rate as those sold, but generally will be collateralized by different pools of mortgages with different pre-payment histories. During the roll period, the Fund foregoes principal and interest paid on the securities. The Fund is compensated by the difference between the current sales price and the forward price for the future purchase as well as by the earnings on the cash proceeds of the initial sale. Mortgage dollar rolls may be renewed without physical delivery of the securities subject to the contract. The Fund accounts for TBA dollar roll transactions as purchases and sales which, as a result, may increase its portfolio turnover rate.

Security transactions and income recognition

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

Interest income is accrued daily and bond discounts are accreted and premiums are amortized daily. To the extent debt obligations are placed on non-accrual status, any related interest income may be reduced by writing off interest receivables when the collection of all or a portion of interest has been determined to be doubtful based on consistently applied procedures and the fair value has decreased. If the issuer subsequently resumes interest payments or when the collectability of interest is reasonably assured, the debt obligation is removed from non-accrual status. Paydown gains and losses are included in interest income.

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

Income is recorded net of foreign taxes withheld where recovery of such taxes is not assured.

Income dividends and capital gain distributions from investment companies are recorded on the ex-dividend date. Capital gain distributions from investment companies are treated as realized gains.

Distributions to shareholders

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

Federal and other taxes

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

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

As of February 28, 2026, the aggregate cost of all investments for federal income tax purposes was $748,991,765 and the unrealized gains (losses) consisted of:

---

| | |
|:---|:---|
| Gross unrealized gains | &nbsp;&nbsp; $9096096 |
| Gross unrealized losses | &nbsp;&nbsp; (5151767)<br>|
| **Net unrealized gains** | &nbsp;&nbsp; **$3944329** |

---

As of August 31, 2025, the Fund had capital loss carryforwards which consisted of $6,195,650 in short-term capital losses and $10,858,950 in long-term capital losses.

28 \| Allspring Short-Term Bond Plus Fund

------

Notes to financial statements (unaudited)

Class allocations

The separate classes of shares offered by the Fund differ principally in applicable sales charges, distribution, shareholder servicing, and administration fees. Class specific expenses are charged directly to that share class. Investment income, common fund-level expenses, and realized and unrealized gains (losses) on investments are allocated daily to each class of shares based on the relative proportion of net assets of each class.&nbsp;&nbsp;&nbsp;&nbsp;

3. FAIR VALUATION MEASUREMENTS

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

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

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

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

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

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Agency securities** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $88534451 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $88534451 |
| **Asset-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 99801260 | &nbsp;&nbsp;&nbsp; 520347 | &nbsp;&nbsp;&nbsp; 100321607 |
| **Corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 233091357 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 233091357 |
| **Foreign corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 9546611 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 9546611 |
| **Foreign government bonds** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 18966238 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 18966238 |
| **Investment companies** | &nbsp;&nbsp; 2259053 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 2259053 |
| **Municipal obligations** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 397178 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 397178 |
| **Non-agency mortgage-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 78471295 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 78471295 |
| **U.S. Treasury securities** | &nbsp;&nbsp; 113839191 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 113839191 |
| **Yankee corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 82874356 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 82874356 |
| **Yankee government bonds** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 11080617 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 11080617 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 14062989 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 14062989 |
|  | &nbsp;&nbsp; 130161233 | &nbsp;&nbsp;&nbsp; 622763363 | &nbsp;&nbsp;&nbsp; 520347 | &nbsp;&nbsp;&nbsp; 753444943 |
| **Forward foreign currency contracts** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 193009 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 193009 |
| **Futures contracts** | &nbsp;&nbsp; 275280 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 275280 |
| **Swap contracts** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 31476 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 31476 |
| **Total assets** | &nbsp;&nbsp; **$130436513** | &nbsp;&nbsp;&nbsp; **$622987848** | &nbsp;&nbsp;&nbsp; **$520347** | &nbsp;&nbsp;&nbsp; **$753944708** |
| **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** |
| **Forward foreign currency contracts** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $524750 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $524750 |
| **Futures contracts** | &nbsp;&nbsp; 483864 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 483864 |
| **Total liabilities** | &nbsp;&nbsp; **$483864** | &nbsp;&nbsp;&nbsp; **$524750** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$1008614** |

---

Futures contracts, forward foreign currency contracts and swap contracts are reported at their cumulative unrealized gains (losses) at measurement date as reported in the table following the Portfolio of investments. For futures contracts and centrally cleared swap contracts, the current day's variation margin is reported on the Statement of assets and liabilities. All other assets and liabilities are reported at their market value at measurement date.

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

At February 28, 2026, the Fund did not have any transfers into/out of Level 3.

Allspring Short-Term Bond Plus Fund \| 29

------

Notes to financial statements (unaudited)

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

4. TRANSACTIONS WITH AFFILIATES

Management fee

Allspring Funds Management, a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P., is the manager of the Fund and provides advisory and fund-level administrative services under an investment management agreement. Under the investment management agreement, Allspring Funds Management is responsible for, among other services, implementing the investment objectives and strategies of the Fund, supervising the subadviser and providing fund-level administrative services in connection with the Fund's operations. As compensation for its services under the investment management agreement, Allspring Funds Management is entitled to receive a management fee, which is generally paid monthly, at the following annual rate based on the Fund's average daily net assets:

---

| | |
|:---|:---|
| Average daily net assets | Management fee |
| First $1 billion | 0.350<br> %<br>|
| Next $4 billion | 0.325 |
| Next $3 billion | 0.290 |
| Next $2 billion | 0.265 |
| Over $10 billion | 0.255 |

---

For the six months ended February 28, 2026, the management fee was equivalent to an annual rate of 0.35% of the Fund's average daily net assets.

Allspring Funds Management has retained the services of certain subavisers to provide daily portfolio management to the Fund. The fee for subadvisory services is borne by Allspring Funds Management. Allspring Global Investments, LLC and Allspring Global Investments (UK) Limited, each an affiliate of Allspring Funds Management and a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, serves as subadvisers to the Fund.

Administration fees

Under a class-level administration agreement, Allspring Funds Management provides class-level administrative services to the Fund, which includes paying fees and expenses for services provided by the transfer agent, sub-transfer agents, omnibus account servicers and record-keepers. As compensation for its services under the class-level administration agreement, Allspring Funds Management receives an annual fee which is calculated based on the average daily net assets of each class and generally paid monthly, as follows:

---

| | |
|:---|:---|
|  | Class-level <br>administration fee<br>|
| Class A | 0.15<br> %<br>|
| Class C | 0.15 |
| Class R6 | 0.03 |
| Institutional Class | 0.08 |

---

Waivers and/or expense reimbursements

Allspring Funds Management has contractually committed to waive and/or reimburse management and administration fees to the extent necessary to maintain certain net operating expense ratios for the Fund. When each class of the Fund has exceeded its expense cap, Allspring Funds Management will waive fees and/or reimbursed expenses from fund-level expenses on a proportionate basis and then from class specific expenses. When only certain classes exceed their expense caps, waivers and/or reimbursements are applied against class specific expenses before fund-level expenses. Allspring Funds Management has contractually committed through December 31, 2026 to waive fees and/or reimburse expenses to the extent necessary to cap the Fund's expenses. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. As of February 28, 2026, the contractual caps are as follows:&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | EXPENSE RATIO CAPS |
| Class A | 0.61<br> %<br>|
| Class R6 | 0.24 |
| Institutional Class | 0.29 |

---

Distribution fee

The Trust has adopted a distribution plan for Class C shares pursuant to Rule 12b-1 under the 1940 Act. A distribution fee is charged to Class C shares and paid to Allspring Funds Distributor, LLC ("Allspring Funds Distributor"), the principal underwriter, an affiliate of Allspring Funds Management, at an annual rate up to 0.75% of the average daily net assets of Class C shares. Such fees are generally paid on a monthly basis.

In addition, Allspring Funds Distributor is entitled to receive the front-end sales charge from the purchase of Class A shares and a contingent deferred sales charge on the redemption of certain Class A shares. Allspring Funds Distributor is also entitled to receive the contingent deferred sales charges

30 \| Allspring Short-Term Bond Plus Fund

------

Notes to financial statements (unaudited)

from redemptions of Class C shares. For the six months ended February 28, 2026, Allspring Funds Distributor received $918 from the sale of Class A shares and $2,531 in contingent deferred sales charges from redemptions of Class A shares. No contingent deferred sales charges were incurred by Class C shares for the six months ended February 28, 2026.

Shareholder servicing fees

The Trust has entered into contracts with one or more shareholder servicing agents, whereby Class A and Class C are charged a fee at an annual rate up to 0.25% of the average daily net assets of each respective class. These fees are generally paid on a monthly basis. A portion of these total shareholder servicing fees were paid to affiliates of the Fund.

Interfund transactions

The Fund may purchase or sell portfolio investment securities to certain affiliates pursuant to Rule 17a-7 under the 1940 Act and under procedures adopted by the Board of Trustees. The procedures have been designed to ensure that these interfund transactions, which do not incur broker commissions, are effected at current market prices. Pursuant to these procedures, the Fund did not have any interfund transactions during the six months ended February 28, 2026.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments, excluding short-term securities, for the six months ended February 28, 2026 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| Purchases at cost | Purchases at cost | Sales Proceeds | Sales Proceeds |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $322264729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $190587505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $322317301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $176530726 |

---

6. DERIVATIVE TRANSACTIONS

During the six months ended February 28, 2026, the Fund entered into futures contracts to speculate on interest rates and to help manage the duration of the portfolio and forward foreign currency contracts for economic hedging purposes and entered into swap contracts as a substitute for taking a position in the underlying security or basket of securities or to potentially enhance the Fund's total return.

The volume of the Fund's derivative activity during the six months ended February 28, 2026 was as follows:

---

| | |
|:---|:---|
| **Forward foreign currency contracts** |  |
| Average contract amounts to buy | &nbsp;&nbsp; $3810953 |
| Average contract amounts to sell | &nbsp;&nbsp; 34682405 |
| **Futures contracts** |  |
| Average notional balance on long futures | &nbsp;&nbsp; $276694161 |
| Average notional balance on short futures | &nbsp;&nbsp; 150619061 |
| **Swap contracts** |  |
| Average notional balance | &nbsp;&nbsp; $1779900 |

---

The credit default swap transactions may contain provisions for early termination in the event the net assets of the Fund declines below specific levels identified by the counterparty. If these levels are triggered, the counterparty may terminate the transaction and seek payment or request full collateralization of the derivative transactions in net liability positions.

A summary of the location of derivative instruments on the financial statements by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of February 28, 2026 by primary risk type on the Statement of assets and liabilities was as follows for the Fund:

Allspring Short-Term Bond Plus Fund \| 31

------

Notes to financial statements (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest rate <br>risk<br>| Credit <br>risk<br>| Foreign Currency <br>risk<br>| Total |
| **Asset derivatives** | **Asset derivatives** | **Asset derivatives** | **Asset derivatives** | **Asset derivatives** |
| Forward foreign currency contracts | &nbsp;&nbsp; $0 | $0 | $193009 | $193009 |
| Futures contracts | &nbsp;&nbsp; 275,280 <br>\*<br>| 0 | 0 | 275280 |
| Swap contracts | &nbsp;&nbsp; 0 | 31,476 <br>\*<br>| 0 | 31476 |
|  | &nbsp;&nbsp; $275280 | $31476 | $193009 | $499765 |
| **Liability derivatives** | **Liability derivatives** | **Liability derivatives** | **Liability derivatives** | **Liability derivatives** |
| Forward foreign currency contracts | &nbsp;&nbsp; $0 | $0 | $524750 | $524750 |
| Futures contracts | &nbsp;&nbsp; 483,864 <br>\*<br>| 0 | 0 | 483864 |
|  | &nbsp;&nbsp; $483864 | $0 | $524750 | $1008614 |

---

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

\* Amount represents the cumulative unrealized gains (losses) as reported in the table following the Portfolio of investments. For futures contracts and centrally cleared swap contracts, only the current day's variation margin as of February 28, 2026 is reported separately on the Statement of assets and liabilities. 

The effect of derivative instruments on the Statement of operations for the six months ended February 28, 2026 was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest rate <br>risk<br>| Credit <br>risk<br>| Foreign currency <br>risk<br>| TOTAL |
| **Net realized gains (losses) on derivatives** | **Net realized gains (losses) on derivatives** | **Net realized gains (losses) on derivatives** | **Net realized gains (losses) on derivatives** | **Net realized gains (losses) on derivatives** |
| Forward foreign currency contracts | &nbsp;&nbsp; $0 | $0 | $(600499)<br>| $(600499)<br>|
| Futures contracts | &nbsp;&nbsp; (500373)<br>| 0 | 0 | (500373)<br>|
| Swap contracts | &nbsp;&nbsp; 0 | 17597 | 0 | 17597 |
|  | &nbsp;&nbsp; $(500373)<br>| $17597 | $(600499)<br>| $(1083275)<br>|
| **Net change in unrealized gains (losses) on derivatives** | **Net change in unrealized gains (losses) on derivatives** | **Net change in unrealized gains (losses) on derivatives** | **Net change in unrealized gains (losses) on derivatives** | **Net change in unrealized gains (losses) on derivatives** |
| Forward foreign currency contracts | &nbsp;&nbsp; $0 | $0 | $1961 | $1961 |
| Futures contracts | &nbsp;&nbsp; (306306)<br>| 0 | 0 | (306306)<br>|
| Swap contracts | &nbsp;&nbsp; 0 | 9380 | 0 | 9380 |
|  | &nbsp;&nbsp; $(306306)<br>| $9380 | $1961 | $(294965)<br>|

---

For certain types of derivative transactions, the Fund has entered into International Swaps and Derivatives Association, Inc. master agreements ("ISDA Master Agreements") or similar agreements with approved counterparties. The ISDA Master Agreements or similar agreements may have requirements to deliver/deposit securities or cash to/with an exchange or broker-dealer as collateral and allows the Fund to offset, with each counterparty, certain derivative financial instrument's assets and/or liabilities with collateral held or pledged. Collateral requirements differ by type of derivative. Collateral or margin requirements are set by the broker or exchange clearinghouse for exchange traded derivatives while collateral terms are contract specific for over-the-counter traded derivatives. Cash collateral that has been pledged to cover obligations of the Fund under ISDA Master Agreements or similar agreements, if any, are reported separately in the Statement of assets and liabilities. Securities pledged as collateral, if any, are noted in the Portfolio of investments. With respect to balance sheet offsetting, absent an event of default by the counterparty or a termination of the agreement, the reported amounts of financial assets and financial liabilities in the Statement of assets and liabilities are not offset across transactions between the Fund and the applicable counterparty. A reconciliation of the gross amounts on the Statement of assets and liabilities to the net amounts by counterparty, including any collateral exposure, for OTC derivatives is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Counterparty | Gross amounts <br>of assets in the <br>Statement of <br>Assets and <br>Liabilities<br>| Amounts <br>subject to <br>netting <br>agreements<br>| Collateral <br>received<br>| Net amount <br>of assets<br>|
| Bank of New York Mellon Corp. | &nbsp;&nbsp; $67112 | $(67112)<br>| $0 | $0 |
| Morgan Stanley, Inc. | &nbsp;&nbsp; 57036 | (24048)<br>| 0 | 32988 |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 68861 | 0 | 0 | 68861 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| Counterparty | Gross amounts <br>of liabilities in the <br>Statement of <br>Assets and <br>Liabilities<br>| Amounts <br>subject to <br>netting <br>agreements<br>| Collateral <br>pledged<sup>1</sup> <br>| Net amount <br>of liabilities<br>|
| Bank of New York Mellon Corp. | &nbsp;&nbsp; $500702 | $(67112)<br>| $(330000)<br>| $103590 |
| Morgan Stanley, Inc. | &nbsp;&nbsp; 24048 | (24048)<br>| 0 | 0 |

---

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

<sup>1</sup> Collateral pledged within this table is limited to the collateral for the net transaction with the counterparty.

32 \| Allspring Short-Term Bond Plus Fund

------

Notes to financial statements (unaudited)

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

7. BANK BORROWINGS

The Fund, together with certain other registered Allspring Funds is party to a $275,000,000 revolving credit agreement whereby the Fund is permitted to use bank borrowings for temporary or emergency purposes, such as to fund shareholder redemption requests. Interest under the credit agreement is charged to the Fund based on a borrowing rate equal to the higher of the Federal Funds rate or the overnight bank funding rate in effect on that day plus a spread. In addition, an annual commitment fee based on the unused balance is allocated to each participating fund.

For the six months ended February 28, 2026, there were no borrowings by the Fund under the agreement.

8. INDEMNIFICATION

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

9. OPERATING SEGMENTS

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

10. NEW ACCOUNTING PRONOUNCEMENT

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

Allspring Short-Term Bond Plus Fund \| 33

------

Other information (unaudited)

Other information

Proxy voting information

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

Quarterly portfolio holdings information

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

34 \| Allspring Short-Term Bond Plus Fund

------

Other information (unaudited)

Item 8. Changes in and disagreements with accountants

Not applicable

Item 9. Matters submitted to fund shareholders for a vote

Not applicable

Item 10. Remuneration paid to directors, officers and others

Refer to information in the Statement of operations.

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

Not applicable

Allspring Short-Term Bond Plus Fund \| 35

------

*This page is intentionally left blank.*

------

![](g132415imgad3eddb81.jpg)

For more information

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

Allspring Funds

P.O. Box 219967

Kansas City, MO 64121-9967

Website: **allspringglobal.com**

Individual investors: **1-800-222-8222**

Retail investment professionals: **1-888-877-9275**

Institutional investment professionals: **1-800-260-5969**

![](g132415img3d4580a72.gif)

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. If this report is used for promotional purposes, distribution of the report must be accompanied or preceded by a current prospectus. Before investing, please consider the investment objectives, risks, charges, and expenses of the investment. For a current prospectus and, if available, a summary prospectus, containing this information, call* ***1-800-222-8222*** *or visit the Fund's website at* ***allspringglobal.com****. Read the prospectus carefully before you invest or send money.*

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

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

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

**NCSRS3005 02-26**

------

![](g132415img8507b8a31.jpg)

Allspring Short Duration Government Bond Fund

Long Form Financial Statements

Semi-Annual Report

February 28, 2026

------

Contents

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

---

| | |
|:---|:---|
| **[Portfolio of investments](#xx_b893d634-3dfa-4c00-a7f8-5c45a2738474_POI-PageBlank-98_1)** | 2 |
| **[Item 7. Financial statements and financial highlights](#xx_b893d634-3dfa-4c00-a7f8-5c45a2738474_FS-PageBlank-98_1)** |  |
| [Statement of assets and liabilities](#xx_b893d634-3dfa-4c00-a7f8-5c45a2738474_FS-PageBlank-98_1) | 5 |
| [Statement of operations](#xx_b893d634-3dfa-4c00-a7f8-5c45a2738474_FS-PageBlank-98_2) | 6 |
| [Statement of changes in net assets](#xx_b893d634-3dfa-4c00-a7f8-5c45a2738474_FS-PageBlank-98_4) | 8 |
| [Financial highlights](#xx_b893d634-3dfa-4c00-a7f8-5c45a2738474_FIHI-PageBlank-98_1) | 10 |
| **[Notes to financial statements](#xx_b893d634-3dfa-4c00-a7f8-5c45a2738474_NTF-PageBlank-98_1)** | 13 |
| **[Other information](#xx_b893d634-3dfa-4c00-a7f8-5c45a2738474_OI-PageBlank-98_1)** | 18 |
| [Item 8. Changes in and disagreements with accountants](#xx_b893d634-3dfa-4c00-a7f8-5c45a2738474_OI-PageBlank-98_2) | 19 |
| [Item 9. Matters submitted to fund shareholders for a vote](#xx_b893d634-3dfa-4c00-a7f8-5c45a2738474_OI-PageBlank-98_2) | 19 |
| [Item 10. Remuneration paid to directors, officers and others](#xx_b893d634-3dfa-4c00-a7f8-5c45a2738474_OI-PageBlank-98_2) | 19 |
| [Item 11. Statement regarding basis for board](#xx_b893d634-3dfa-4c00-a7f8-5c45a2738474_OI-PageBlank-98_2)['](#xx_b893d634-3dfa-4c00-a7f8-5c45a2738474_OI-PageBlank-98_2)[s approval of investment](#xx_b893d634-3dfa-4c00-a7f8-5c45a2738474_OI-PageBlank-98_2)<br> [advisory contract](#xx_b893d634-3dfa-4c00-a7f8-5c45a2738474_OI-PageBlank-98_2)<br>| 19 |

---

Allspring Short Duration Government Bond Fund \| 1

------

Portfolio of investments—February 28, 2026 (unaudited)

Portfolio of investments

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest <br>rate<br>| Maturity <br>date<br>| Principal | Value |
| **Agency securities: 78.55%** |  |  |  |  |
| FHLMC | 2.50<br> %<br>| &nbsp;&nbsp; 7-1-2033 | $3508168 | &nbsp;&nbsp; $3468668 |
| FHLMC (30 Day Average U.S. SOFR+2.15%)± | 4.79 | &nbsp;&nbsp; 1-1-2055 | 2679573 | &nbsp;&nbsp; 2726481 |
| FHLMC (RFUCCT1Y+1.62%)± | 3.27 | &nbsp;&nbsp; 2-1-2050 | 3985697 | &nbsp;&nbsp; 4067380 |
| FHLMC (RFUCCT1Y+1.63%)± | 3.01 | &nbsp;&nbsp; 11-1-2048 | 9082227 | &nbsp;&nbsp; 9092329 |
| FHLMC (RFUCCT1Y+1.63%)± | 3.17 | &nbsp;&nbsp; 7-1-2050 | 5715217 | &nbsp;&nbsp; 5641033 |
| FHLMC Series 4184 Class FN (30 Day Average U.S. SOFR+0.46%)± | 4.12 | &nbsp;&nbsp; 3-15-2043 | 1593382 | &nbsp;&nbsp; 1575534 |
| FHLMC Series 4272 Class FD (30 Day Average U.S. SOFR+0.46%)± | 4.12 | &nbsp;&nbsp; 11-15-2043 | 3563929 | &nbsp;&nbsp; 3543382 |
| FHLMC Series 4281 Class FA (30 Day Average U.S. SOFR+0.51%)± | 4.17 | &nbsp;&nbsp; 12-15-2043 | 1406626 | &nbsp;&nbsp; 1399000 |
| FHLMC Series 4303 Class FA (30 Day Average U.S. SOFR+0.46%)± | 4.12 | &nbsp;&nbsp; 2-15-2044 | 2231208 | &nbsp;&nbsp; 2209817 |
| FHLMC Series 4710 Class PD | 2.50 | &nbsp;&nbsp; 4-15-2045 | 6078271 | &nbsp;&nbsp; 5986399 |
| FHLMC Series 5335 Class FB (30 Day Average U.S. SOFR+0.81%)± | 4.47 | &nbsp;&nbsp; 10-15-2039 | 2116976 | &nbsp;&nbsp; 2129483 |
| FHLMC Series 5399 Class FB (30 Day Average U.S. SOFR+0.90%)± | 4.57 | &nbsp;&nbsp; 4-25-2054 | 4614046 | &nbsp;&nbsp; 4632864 |
| FHLMC Series 5565 Class QA | 4.50 | &nbsp;&nbsp; 8-25-2055 | 4484769 | &nbsp;&nbsp; 4540044 |
| FNMA | 1.50 | &nbsp;&nbsp; 2-1-2032 | 12404936 | &nbsp;&nbsp; 11758129 |
| FNMA | 2.50 | &nbsp;&nbsp; 3-1-2035 | 9230760 | &nbsp;&nbsp; 8834547 |
| FNMA | 3.00 | &nbsp;&nbsp; 6-1-2035 | 3110919 | &nbsp;&nbsp; 3064237 |
| FNMA | 3.00 | &nbsp;&nbsp; 3-1-2040 | 7717734 | &nbsp;&nbsp; 7528204 |
| FNMA | 4.00 | &nbsp;&nbsp; 3-1-2031 | 117010 | &nbsp;&nbsp; 116701 |
| FNMA (30 Day Average U.S. SOFR+2.16%)± | 4.34 | &nbsp;&nbsp; 1-1-2055 | 4385045 | &nbsp;&nbsp; 4499455 |
| FNMA (30 Day Average U.S. SOFR+2.28%)± | 4.85 | &nbsp;&nbsp; 7-1-2054 | 4477421 | &nbsp;&nbsp; 4564307 |
| FNMA (30 Day Average U.S. SOFR+2.33%)± | 5.37 | &nbsp;&nbsp; 8-1-2054 | 4514955 | &nbsp;&nbsp; 4637399 |
| FNMA (RFUCCT1Y+1.61%)± | 3.42 | &nbsp;&nbsp; 7-1-2049 | 13926103 | &nbsp;&nbsp; 13868018 |
| FNMA Series 2008-7 Class FA (30 Day Average U.S. SOFR+0.56%)± | 4.23 | &nbsp;&nbsp; 2-25-2038 | 259242 | &nbsp;&nbsp; 258534 |
| &nbsp;&nbsp; FNMA Series 2010-111 Class KF (30 Day Average <br> U.S. SOFR+0.51%)±<br>| 4.18 | &nbsp;&nbsp; 10-25-2040 | 2734218 | &nbsp;&nbsp; 2725530 |
| FNMA Series 2011-47 Class GF (30 Day Average U.S. SOFR+0.68%)± | 4.35 | &nbsp;&nbsp; 6-25-2041 | 4759109 | &nbsp;&nbsp; 4760579 |
| FNMA Series 2011-55 Class FH (30 Day Average U.S. SOFR+0.55%)± | 4.22 | &nbsp;&nbsp; 6-25-2041 | 1607667 | &nbsp;&nbsp; 1600497 |
| FNMA Series 2011-58 Class F (30 Day Average U.S. SOFR+0.58%)± | 4.25 | &nbsp;&nbsp; 7-25-2041 | 3721805 | &nbsp;&nbsp; 3709818 |
| FNMA Series 2012-9 Class CF (30 Day Average U.S. SOFR+0.56%)± | 4.23 | &nbsp;&nbsp; 2-25-2042 | 5289769 | &nbsp;&nbsp; 5267306 |
| FNMA Series 2012-98 Class BA | 1.50 | &nbsp;&nbsp; 1-25-2042 | 1162041 | &nbsp;&nbsp; 1130412 |
| FNMA Series 2016-64 Class BC | 1.75 | &nbsp;&nbsp; 9-25-2046 | 4824856 | &nbsp;&nbsp; 4583045 |
| FNMA Series 2017-11 Class FA (30 Day Average U.S. SOFR+0.51%)± | 4.18 | &nbsp;&nbsp; 3-25-2047 | 1407952 | &nbsp;&nbsp; 1400394 |
| &nbsp;&nbsp; FNMA Series 2017-113 Class FB (30 Day Average <br> U.S. SOFR+0.36%)±<br>| 4.03 | &nbsp;&nbsp; 1-25-2048 | 1424138 | &nbsp;&nbsp; 1410708 |
| FNMA Series 2017-35 Class MC | 2.63 | &nbsp;&nbsp; 12-25-2044 | 3539027 | &nbsp;&nbsp; 3466105 |
| FNMA Series 2017-82 Class FE (30 Day Average U.S. SOFR+0.36%)± | 4.03 | &nbsp;&nbsp; 10-25-2047 | 3419837 | &nbsp;&nbsp; 3397954 |
| FNMA Series 2017-9 Class EF (30 Day Average U.S. SOFR+0.51%)± | 4.18 | &nbsp;&nbsp; 3-25-2047 | 1675995 | &nbsp;&nbsp; 1668028 |
| FNMA Series 2018-1 Class FA (30 Day Average U.S. SOFR+0.36%)± | 4.03 | &nbsp;&nbsp; 2-25-2048 | 1732019 | &nbsp;&nbsp; 1714767 |
| FNMA Series 2018-1 Class FB (30 Day Average U.S. SOFR+0.36%)± | 4.03 | &nbsp;&nbsp; 2-25-2048 | 5281409 | &nbsp;&nbsp; 5236761 |
| FNMA Series 2020-34 Class AG | 2.00 | &nbsp;&nbsp; 6-25-2035 | 4409197 | &nbsp;&nbsp; 4242389 |
| FNMA Series 2023-38 Class FC (30 Day Average U.S. SOFR+0.66%)± | 4.33 | &nbsp;&nbsp; 6-25-2040 | 1505077 | &nbsp;&nbsp; 1504395 |
| FNMA Series 2023-38 Class FD (30 Day Average U.S. SOFR+0.86%)± | 4.56 | &nbsp;&nbsp; 10-25-2039 | 2946445 | &nbsp;&nbsp; 2881580 |
| GNMA Series 2016-167 Class AC | 2.25 | &nbsp;&nbsp; 3-20-2039 | 1528585 | &nbsp;&nbsp; 1450225 |
| GNMA Series 2022-189 Class DC | 2.50 | &nbsp;&nbsp; 10-20-2051 | 7017529 | &nbsp;&nbsp; 6884892 |
| **Total agency securities (Cost $168,256,781)** |  |  |  | &nbsp;&nbsp; **169177330** |
| **Asset-backed securities: 4.74%** |  |  |  |  |
| CarMax Auto Owner Trust Series 2025-2 Class A3 | 4.48 | &nbsp;&nbsp; 3-15-2030 | 1000000 | &nbsp;&nbsp; 1011466 |

---

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

2 \| Allspring Short Duration Government Bond Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp; Ford Credit Floorplan Master Owner Trust A Series 2024-3 <br> Class A1144A<br>| 4.30<br> %<br>| &nbsp;&nbsp; 9-15-2029 | $1328000 | &nbsp;&nbsp; $1338099 |
| &nbsp;&nbsp; Navient Private Education Refinance Loan Trust Series 2020-GA <br> Class A144A<br>| 1.17 | &nbsp;&nbsp; 9-16-2069 | 558038 | &nbsp;&nbsp; 528499 |
| Navient Refinance Loan Trust Series 2026-A Class A144A | 4.50 | &nbsp;&nbsp; 1-18-2056 | 1000000 | &nbsp;&nbsp; 1002140 |
| &nbsp;&nbsp; Nelnet Student Loan Trust Series 2004-4 Class A5 (90 Day Average <br> U.S. SOFR+0.42%)±<br>| 4.31 | &nbsp;&nbsp; 1-25-2037 | 391358 | &nbsp;&nbsp; 390570 |
| Nissan Auto Lease Trust Series 2026-A Class A3 | 3.87 | &nbsp;&nbsp; 3-15-2029 | 1500000 | &nbsp;&nbsp; 1502597 |
| Santander Drive Auto Receivables Trust Series 2025-2 Class A3 | 4.67 | &nbsp;&nbsp; 8-15-2029 | 1000000 | &nbsp;&nbsp; 1006147 |
| SBNA Auto Receivables Trust Series 2024-A Class A3144A | 5.32 | &nbsp;&nbsp; 12-15-2028 | 337855 | &nbsp;&nbsp; 338991 |
| &nbsp;&nbsp; SFS Auto Receivables Securitization Trust Series 2024-1A <br> Class A4144A<br>| 4.94 | &nbsp;&nbsp; 1-21-2031 | 1055000 | &nbsp;&nbsp; 1072139 |
| &nbsp;&nbsp; SFS Auto Receivables Securitization Trust Series 2025-3A <br> Class A3144A<br>| 4.12 | &nbsp;&nbsp; 4-21-2031 | 1000000 | &nbsp;&nbsp; 1007834 |
| USB Auto Owner Trust Series 2025-1A Class A4144A | 4.62 | &nbsp;&nbsp; 12-16-2030 | 1000000 | &nbsp;&nbsp; 1019902 |
| **Total asset-backed securities (Cost $10,169,192)** |  |  |  | &nbsp;&nbsp; **10218384** |
| **Non-agency mortgage-backed securities: 0.72%** |  |  |  |  |
| Bunker Hill Loan Depositary Trust Series 2019-2 Class A1144A±± | 2.88 | &nbsp;&nbsp; 7-25-2049 | 137055 | &nbsp;&nbsp; 135274 |
| CSAIL Commercial Mortgage Trust Series 2019-C16 Class ASB | 3.14 | &nbsp;&nbsp; 6-15-2052 | 814801 | &nbsp;&nbsp; 804940 |
| Verus Securitization Trust Series 2021-3 Class A1144A±± | 1.05 | &nbsp;&nbsp; 6-25-2066 | 667118 | &nbsp;&nbsp; 605638 |
| **Total non-agency mortgage-backed securities (Cost $1,607,989)** |  |  |  | &nbsp;&nbsp; **1545852** |
| **U.S. Treasury securities: 15.72%** |  |  |  |  |
| U.S. Treasury Notes | 3.38 | &nbsp;&nbsp; 2-29-2028 | 17186000 | &nbsp;&nbsp; 17181972 |
| U.S. Treasury Notes | 3.50 | &nbsp;&nbsp; 2-15-2029 | 16624000 | &nbsp;&nbsp; 16675950 |
| **Total U.S. Treasury securities (Cost $33,833,242)** |  |  |  | &nbsp;&nbsp; **33857922** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | Yield | Shares |  |
| **Short-term investments: 3.15%** |  |  |  |  |
| **Investment companies: 3.15%** |  |  |  |  |
| Allspring Government Money Market Fund Select Class♠∞ |  | 3.62 | 6784726 | &nbsp;&nbsp; **6784726** |
| **Total short-term investments (Cost $6,784,726)** |  |  |  | &nbsp;&nbsp; **6784726** |
| **Total investments in securities (Cost $220,651,930)** | 102.88<br> %<br>|  |  | &nbsp;&nbsp; 221584214 |
| Other assets and liabilities, net | (2.88)<br>|  |  | &nbsp;&nbsp; (6203175)<br>|
| **Total net assets** | **100.00%**<br>|  |  | &nbsp;&nbsp; **$215381039** |

---

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

---

| | |
|:---|:---|
| ± | Variable rate investment. The rate shown is the rate in effect at period end. |
| 144A | The security may be resold in transactions exempt from registration, normally to qualified institutional buyers, pursuant to Rule 144A under the Securities Act of <br> 1933.<br>|
| ±± | The coupon of the security is adjusted based on the principal and/or interest payments received from the underlying pool of mortgages as well as the credit quality <br> and the actual prepayment speed of the underlying mortgages. The rate shown is the rate in effect at period end.<br>|
| ♠ | The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
| ∞ | The rate represents the 7-day annualized yield at period end. |

---

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

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

Allspring Short Duration Government Bond Fund \| 3

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| FHLMC | Federal Home Loan Mortgage Corporation |
| FNMA | Federal National Mortgage Association |
| GNMA | Government National Mortgage Association |
| RFUCCT1Y | Refinitiv USD IBOR Consumer Cash Fallbacks Term 1-year |
| SOFR | Secured Overnight Financing Rate |

---

**Investments in affiliates**

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| Allspring Government Money Market Fund Select <br> Class<br>| $5841843 | $70159331 | $(69216448)<br>| $0 | $0 | $6784726 | 6784726 | $76796 |

---

**Futures contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Number of <br>contracts<br>| Expiration <br>date<br>| Notional <br>cost<br>| Notional <br>value<br>| Unrealized <br>gains<br>| Unrealized <br>losses<br>|
| **Long** |  |  |  |  |  |  |
| 2-Year U.S. Treasury Notes | &nbsp;&nbsp; 366 | &nbsp;&nbsp; 6-30-2026 | &nbsp;&nbsp; $76480312 | &nbsp;&nbsp; $76594078 | &nbsp;&nbsp; $113766 | &nbsp;&nbsp; $0 |
| **Short** |  |  |  |  |  |  |
| Ultra 10-Year U.S. Treasury Notes | &nbsp;&nbsp; (43)<br>| &nbsp;&nbsp; 6-18-2026 | &nbsp;&nbsp; (4989271)<br>| &nbsp;&nbsp; (5019578)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (30307)<br>|
| 5-Year U.S. Treasury Notes | &nbsp;&nbsp; (91)<br>| &nbsp;&nbsp; 6-30-2026 | &nbsp;&nbsp; (9983550)<br>| &nbsp;&nbsp; (10022797)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (39247)<br>|
|  |  |  |  |  | &nbsp;&nbsp; **$113766** | &nbsp;&nbsp; **$(69554)**<br>|

---

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

4 \| Allspring Short Duration Government Bond Fund

------

Statement of assets and liabilities—February 28, 2026 (unaudited)

Financial statements

Statement of assets and liabilities

---

| | |
|:---|:---|
| Assets |  |
| Investments in unaffiliated securities, at value (cost $213,867,204) | $214799488 |
| Investments in affiliated securities, at value (cost $6,784,726) | 6784726 |
| Cash at broker segregated for futures contracts | 1174000 |
| Receivable for investments sold | 9318781 |
| Receivable for interest | 479906 |
| Principal paydown receivable | 251585 |
| Receivable for Fund shares sold | 123449 |
| Receivable for daily variation margin on open futures contracts | 91847 |
| Prepaid expenses and other assets | 59270 |
| **Total assets** | **233083052** |
| Liabilities |  |
| Payable for investments purchased | 17192577 |
| Payable for Fund shares redeemed | 277805 |
| Dividends payable | 83101 |
| Payable for daily variation margin on open futures contracts | 51992 |
| Management fee payable | 40410 |
| Administration fees payable | 13041 |
| Shareholder servicing fees payable | 4309 |
| Trustees' fees and expenses payable | 863 |
| Accrued expenses and other liabilities | 37915 |
| **Total liabilities** | **17702013** |
| **Total net assets**  | **$215381039** |
| Net assets consist of |  |
| Paid-in capital | $343247945 |
| Total distributable loss | (127866906)<br>|
| **Total net assets** | **$215381039** |
| Computation of net asset value and offering price per share |  |
| Net assets–Class A | $21724841 |
| Shares outstanding–Class A<sup>1</sup> <br>| 2408401 |
| Net asset value per share–Class A | $9.02 |
| Maximum offering price per share – Class A<sup>2</sup> <br>| $9.20 |
| Net assets–Class R6 | $45627484 |
| Shares outstanding–Class R6<sup>1</sup> <br>| 5040685 |
| Net asset value per share–Class R6 | $9.05 |
| Net assets–Institutional Class | $148028714 |
| Shares outstanding–Institutional Class<sup>1</sup> <br>| 16388586 |
| Net asset value per share–Institutional Class | $9.03 |

---

<sup>1</sup> The Fund has an unlimited number of authorized shares.

<sup>2</sup> Maximum offering price is computed as 100/98 of net asset value. On investments of $100,000 or more, the offering price is reduced.

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

Allspring Short Duration Government Bond Fund \| 5

------

Statement of operations—six months ended February 28, 2026 (unaudited)

Statement of operations

---

| | |
|:---|:---|
| Investment income |  |
| Interest | $4621255 |
| Income from affiliated securities | 76796 |
| **Total investment income** | **4698051** |
| Expenses |  |
| Management fee | 366974 |
| Administration fees |  |
| Class A | 16188 |
| Class C | 326 <br><sup>1</sup><br>|
| Class R6 | 6422 |
| Administrator Class | 623 <br><sup>2</sup><br>|
| Institutional Class | 57407 |
| Shareholder servicing fees |  |
| Class A | 26959 |
| Class C | 543 <br><sup>1</sup><br>|
| Administrator Class | 1543 <br><sup>2</sup><br>|
| Distribution fee |  |
| Class C | 1628 <br><sup>1</sup><br>|
| Custody and accounting fees | 4649 |
| Professional fees | 30116 |
| Registration fees | 49847 |
| Shareholder report expenses | 14069 |
| Trustees' fees and expenses | 3175 |
| Other fees and expenses | 5306 |
| **Total expenses** | **585775** |
| Less: Fee waivers and/or expense reimbursements |  |
| Fund-level | (85817)<br>|
| Class A | (286)<br>|
| Class R6 | (6422)<br>|
| Institutional Class | (23109)<br>|
| **Net expenses** | **470141** |
| **Net investment income** | **4227910** |

---

<sup>1</sup> For the period from September 1, 2025 to November 14, 2025. Effective at the close of business on November 14, 2025, Class C shares were converted to Class A shares and are no longer offered by the Fund.

<sup>2</sup> For the period from September 1, 2025 to September 12, 2025. Effective at the close of business on September 12, 2025, Administrator Class shares were converted to Institutional Class shares and are no longer offered by the Fund.

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

6 \| Allspring Short Duration Government Bond Fund

------

Statement of operations—six months ended February 28, 2026 (unaudited)

Statement of operations

---

| | |
|:---|:---|
| Realized and unrealized gains (losses) on investments |  |
| Net realized gains (losses) on |  |
| Unaffiliated securities | $67955 |
| Futures contracts | (177354)<br>|
| **Net realized losses on investments**  | **(109399)**<br>|
| Net change in unrealized gains (losses) on |  |
| Unaffiliated securities | 1215334 |
| Futures contracts | 22714 |
| **Net change in unrealized gains (losses) on investments** | **1238048** |
| **Net realized and unrealized gains (losses) on investments** | **1128649** |
| **Net increase in net assets resulting from operations** | **$5356559** |

---

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

Allspring Short Duration Government Bond Fund \| 7

------

Statement of changes in net assets

Statement of changes in net assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six months ended<br> February 28, 2026<br> (unaudited) | Six months ended<br> February 28, 2026<br> (unaudited) | Year ended<br> August 31, 2025 | Year ended<br> August 31, 2025 |
| Operations |  |  |  |  |
| Net investment income |  | &nbsp;&nbsp; $4227910 |  | &nbsp;&nbsp; $8635611 |
| Net realized losses on investments |  | &nbsp;&nbsp; (109399)<br>|  | &nbsp;&nbsp; (373803)<br>|
| Net change in unrealized gains (losses) on investments |  | &nbsp;&nbsp; 1238048 |  | &nbsp;&nbsp; 1038716 |
| **Net increase in net assets resulting from operations** |  | &nbsp;&nbsp; **5356559** |  | &nbsp;&nbsp; **9300524** |
| Distributions to shareholders from |  |  |  |  |
| Net investment income and net realized gains |  |  |  |  |
| Class A |  | &nbsp;&nbsp; (401891)<br>|  | &nbsp;&nbsp; (875452)<br>|
| Class C |  | &nbsp;&nbsp; (6852 )<sup>1</sup><br>|  | &nbsp;&nbsp; (34841)<br>|
| Class R6 |  | &nbsp;&nbsp; (882442)<br>|  | &nbsp;&nbsp; (1756578)<br>|
| Administrator Class |  | &nbsp;&nbsp; (26763 )<sup>2</sup><br>|  | &nbsp;&nbsp; (766004)<br>|
| Institutional Class |  | &nbsp;&nbsp; (2918513)<br>|  | &nbsp;&nbsp; (5266243)<br>|
| **Total distributions to shareholders** |  | &nbsp;&nbsp; **(4236461)**<br>|  | &nbsp;&nbsp; **(8699118)**<br>|
| Capital share transactions | Shares |  | &nbsp;&nbsp; Shares |  |
| Proceeds from shares sold |  |  |  |  |
| Class A | 302421 | &nbsp;&nbsp; 2718081 | &nbsp;&nbsp; 198522 | &nbsp;&nbsp; 1771565 |
| Class C | 0 <br><sup>1</sup><br>| &nbsp;&nbsp; 0 <br><sup>1</sup><br>| &nbsp;&nbsp; 28238 | &nbsp;&nbsp; 252849 |
| Class R6 | 716172 | &nbsp;&nbsp; 6461450 | &nbsp;&nbsp; 1659450 | &nbsp;&nbsp; 14888706 |
| Administrator Class | 148 <br><sup>2</sup><br>| &nbsp;&nbsp; 1334 <br><sup>2</sup><br>| &nbsp;&nbsp; 8655 | &nbsp;&nbsp; 77492 |
| Institutional Class | 2524724 | &nbsp;&nbsp; 22713514 | &nbsp;&nbsp; 6490932 | &nbsp;&nbsp; 57953270 |
|  |  | &nbsp;&nbsp; 31894379 |  | &nbsp;&nbsp; 74943882 |
| Reinvestment of distributions |  |  |  |  |
| Class A | 43002 | &nbsp;&nbsp; 386554 | &nbsp;&nbsp; 92944 | &nbsp;&nbsp; 830985 |
| Class C | 615 <br><sup>1</sup><br>| &nbsp;&nbsp; 5528 <br><sup>1</sup><br>| &nbsp;&nbsp; 3874 | &nbsp;&nbsp; 34572 |
| Class R6 | 97534 | &nbsp;&nbsp; 879709 | &nbsp;&nbsp; 189518 | &nbsp;&nbsp; 1700188 |
| Administrator Class | 0 <br><sup>2</sup><br>| &nbsp;&nbsp; 0 <br><sup>2</sup><br>| &nbsp;&nbsp; 84835 | &nbsp;&nbsp; 760035 |
| Institutional Class | 284161 | &nbsp;&nbsp; 2557316 | &nbsp;&nbsp; 489365 | &nbsp;&nbsp; 4380168 |
|  |  | &nbsp;&nbsp; 3829107 |  | &nbsp;&nbsp; 7705948 |
| Payment for shares redeemed |  |  |  |  |
| Class A | (336111)<br>| &nbsp;&nbsp; (3021624)<br>| &nbsp;&nbsp; (425917)<br>| &nbsp;&nbsp; (3803167)<br>|
| Class C | (3445 )<sup>1</sup><br>| &nbsp;&nbsp; (30951 )<sup>1</sup><br>| &nbsp;&nbsp; (30467)<br>| &nbsp;&nbsp; (272162)<br>|
| Class R6 | (477261)<br>| &nbsp;&nbsp; (4305502)<br>| &nbsp;&nbsp; (831218)<br>| &nbsp;&nbsp; (7449041)<br>|
| Administrator Class | (2896 )<sup>2</sup><br>| &nbsp;&nbsp; (26093 )<sup>2</sup><br>| &nbsp;&nbsp; (127768)<br>| &nbsp;&nbsp; (1144384)<br>|
| Institutional Class | (2332766)<br>| &nbsp;&nbsp; (20979231)<br>| &nbsp;&nbsp; (4958542)<br>| &nbsp;&nbsp; (44377024)<br>|
|  |  | &nbsp;&nbsp; (28363401)<br>|  | &nbsp;&nbsp; (57045778)<br>|

---

<sup>1</sup> For the period from September 1, 2025 to November 14, 2025

<sup>2</sup> For the period from September 1, 2025 to September 12, 2025

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

8 \| Allspring Short Duration Government Bond Fund

------

Statement of changes in net assets

Statement of changes in net assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six months ended<br> February 28, 2026<br> (unaudited) | Six months ended<br> February 28, 2026<br> (unaudited) | Year ended<br> August 31, 2025 | Year ended<br> August 31, 2025 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares |  | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares |  |
| Share conversions |  |  |  |  |
| Class A | 114071 | &nbsp;&nbsp; $1023466 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; $0 |
| Class C | (113900 )<sup>3</sup><br>| &nbsp;&nbsp; (1023466 )<sup>3</sup><br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| Administrator Class | (1940432 )<sup>4</sup><br>| &nbsp;&nbsp; (17477086 )<sup>4</sup><br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| Institutional Class | 1941769 | &nbsp;&nbsp; 17477086 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp; 0 |  | &nbsp;&nbsp; 0 |
| **Net increase in net assets resulting from capital share transactions** |  | &nbsp;&nbsp; **7360085** |  | &nbsp;&nbsp; **25604052** |
| **Total increase in net assets** |  | &nbsp;&nbsp; **8480183** |  | &nbsp;&nbsp; **26205458** |
| Net assets |  |  |  |  |
| **Beginning of period** |  | &nbsp;&nbsp; **206900856** |  | &nbsp;&nbsp; **180695398** |
| **End of period** |  | &nbsp;&nbsp; **$215381039** |  | &nbsp;&nbsp; **$206900856** |

---

<sup>3</sup> Effective at the close of business on November 14, 2025, Class C shares were converted to Class A shares and are no longer offered by the Fund.

<sup>4</sup> Effective at the close of business on September 12, 2025, Administrator Class shares were converted to Institutional Class shares and are no longer offered by the Fund.

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

Allspring Short Duration Government Bond Fund \| 9

------

Financial highlights

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Class A | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$8.97** | &nbsp;&nbsp; **$8.95** | &nbsp;&nbsp; **$8.78** | &nbsp;&nbsp; **$9.04** | &nbsp;&nbsp; **$9.71** | &nbsp;&nbsp; **$9.85** |
| Net investment income | 0.17 <br><sup>1</sup><br>| 0.37 <br><sup>1</sup><br>| 0.37 <br><sup>1</sup><br>| 0.22 <br><sup>1</sup><br>| 0.04 <br><sup>1</sup><br>| 0.00 <br><sup>12</sup><br>|
| Net realized and unrealized gains (losses) on investments | 0.05 | 0.02 | 0.20 | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.59)<br>| &nbsp;&nbsp; (0.04)<br>|
| Total from investment operations | 0.22 | 0.39 | 0.57 | 0.00 | &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; (0.04)<br>|
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.17)<br>| &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.10)<br>|
| **Net asset value, end of period** | **$9.02** | &nbsp;&nbsp; **$8.97** | &nbsp;&nbsp; **$8.95** | &nbsp;&nbsp; **$8.78** | &nbsp;&nbsp; **$9.04** | &nbsp;&nbsp; **$9.71** |
| **Total return**<sup>3</sup> <br>| **2.43%**<br>| **4.49%** <br>| **6.57%**<br>| **0.02%**<br>| &nbsp;&nbsp; **(5.65)%**<br>| &nbsp;&nbsp; **(0.45)%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.85<br> %<br>| 0.87<br> %<br>| 0.86<br> %<br>| 0.83<br> %<br>| 0.79<br> %<br>| 0.79<br> %<br>|
| Net expenses | 0.76<br> %<br>| 0.76<br> %<br>| 0.77<br> %<br>| 0.78<br> %<br>| 0.78<br> %<br>| 0.78<br> %<br>|
| Net investment income | 3.70<br> %<br>| 4.17<br> %<br>| 4.17<br> %<br>| 2.53<br> %<br>| 0.38<br> %<br>| 0.01<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 127<br> %<br>| &nbsp;&nbsp; 187<br> %<br>| &nbsp;&nbsp; 200<br> %<br>| &nbsp;&nbsp; 350<br> %<br>| &nbsp;&nbsp; 367<br> %<br>| &nbsp;&nbsp; 294<br> %<br>|
| Net assets, end of period (000s omitted) | $21725 | &nbsp;&nbsp; $20504 | &nbsp;&nbsp; $21664 | &nbsp;&nbsp; $23260 | &nbsp;&nbsp; $30817 | &nbsp;&nbsp; $67959 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding

<sup>2</sup> Amount is less than $0.005.

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

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

10 \| Allspring Short Duration Government Bond Fund

------

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Class R6 | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$9.00** | &nbsp;&nbsp; **$8.98** | &nbsp;&nbsp; **$8.81** | &nbsp;&nbsp; **$9.07** | &nbsp;&nbsp; **$9.74** | &nbsp;&nbsp; **$9.89** |
| Net investment income | 0.18 <br><sup>1</sup><br>| 0.41 <br><sup>1</sup><br>| 0.40 <br><sup>1</sup><br>| 0.26 <br><sup>1</sup><br>| 0.09 | 0.04 |
| Net realized and unrealized gains (losses) on investments | 0.05 | 0.02 | 0.20 | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.60)<br>| &nbsp;&nbsp; (0.05)<br>|
| Total from investment operations | 0.23 | 0.43 | 0.60 | 0.04 | &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (0.01)<br>|
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.18)<br>| &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.14)<br>|
| **Net asset value, end of period** | **$9.05** | &nbsp;&nbsp; **$9.00** | &nbsp;&nbsp; **$8.98** | &nbsp;&nbsp; **$8.81** | &nbsp;&nbsp; **$9.07** | &nbsp;&nbsp; **$9.74** |
| **Total return**<sup>2</sup> <br>| **2.63%**<br>| **4.89%**<br>| **6.99%**<br>| **0.43%**<br>| &nbsp;&nbsp; **(5.24)%**<br>| &nbsp;&nbsp; **(0.13)%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.48<br> %<br>| 0.50<br> %<br>| 0.49<br> %<br>| 0.45<br> %<br>| 0.42<br> %<br>| 0.41<br> %<br>|
| Net expenses | 0.37<br> %<br>| 0.37<br> %<br>| 0.37<br> %<br>| 0.37<br> %<br>| 0.37<br> %<br>| 0.37<br> %<br>|
| Net investment income | 4.09<br> %<br>| 4.55<br> %<br>| 4.56<br> %<br>| 2.95<br> %<br>| 0.93<br> %<br>| 0.42<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 127<br> %<br>| &nbsp;&nbsp; 187<br> %<br>| &nbsp;&nbsp; 200<br> %<br>| &nbsp;&nbsp; 350<br> %<br>| &nbsp;&nbsp; 367<br> %<br>| &nbsp;&nbsp; 294<br> %<br>|
| Net assets, end of period (000s omitted) | $45627 | &nbsp;&nbsp; $42357 | &nbsp;&nbsp; $33122 | &nbsp;&nbsp; $36155 | &nbsp;&nbsp; $43142 | &nbsp;&nbsp; $47471 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding <br> <sup>2</sup> Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized.

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

Allspring Short Duration Government Bond Fund \| 11

------

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Institutional Class | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$8.98** | &nbsp;&nbsp; **$8.97** | &nbsp;&nbsp; **$8.79** | &nbsp;&nbsp; **$9.06** | &nbsp;&nbsp; **$9.72** | &nbsp;&nbsp; **$9.87** |
| Net investment income | 0.18 <br><sup>1</sup><br>| 0.40 <br><sup>1</sup><br>| 0.40 <br><sup>1</sup><br>| 0.25 <br><sup>1</sup><br>| 0.07 <br><sup>1</sup><br>| 0.04 <br><sup>1</sup><br>|
| Net realized and unrealized gains (losses) on investments | 0.05 | 0.01 | 0.21 | &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; (0.57)<br>| &nbsp;&nbsp; (0.06)<br>|
| Total from investment operations | 0.23 | 0.41 | 0.61 | 0.02 | &nbsp;&nbsp; (0.50)<br>| &nbsp;&nbsp; (0.02)<br>|
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.18)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.13)<br>|
| **Net asset value, end of period** | **$9.03** | &nbsp;&nbsp; **$8.98** | &nbsp;&nbsp; **$8.97** | &nbsp;&nbsp; **$8.79** | &nbsp;&nbsp; **$9.06** | &nbsp;&nbsp; **$9.72** |
| **Total return**<sup>2</sup> <br>| **2.61%**<br>| **4.73%**<br>| **7.06%**<br>| **0.27%**<br>| &nbsp;&nbsp; **(5.20)%**<br>| &nbsp;&nbsp; **(0.19)%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.53<br> %<br>| 0.55<br> %<br>| 0.54<br> %<br>| 0.49<br> %<br>| 0.46<br> %<br>| 0.46<br> %<br>|
| Net expenses | 0.42<br> %<br>| 0.42<br> %<br>| 0.42<br> %<br>| 0.42<br> %<br>| 0.42<br> %<br>| 0.42<br> %<br>|
| Net investment income | 4.04<br> %<br>| 4.51<br> %<br>| 4.51<br> %<br>| 2.81<br> %<br>| 0.79<br> %<br>| 0.37<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 127<br> %<br>| &nbsp;&nbsp; 187<br> %<br>| &nbsp;&nbsp; 200<br> %<br>| &nbsp;&nbsp; 350<br> %<br>| &nbsp;&nbsp; 367<br> %<br>| &nbsp;&nbsp; 294<br> %<br>|
| Net assets, end of period (000s omitted) | $148029 | &nbsp;&nbsp; $125520 | &nbsp;&nbsp; $107137 | &nbsp;&nbsp; $137415 | &nbsp;&nbsp; $334060 | &nbsp;&nbsp; $570276 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding <br> <sup>2</sup> Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized.

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

12 \| Allspring Short Duration Government Bond Fund

------

Notes to financial statements (unaudited)

Notes to financial statements

1. ORGANIZATION

Allspring Funds Trust (the "Trust"), a Delaware statutory trust organized on March 10, 1999, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act"). As an investment company, the Trust follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services* – *Investment Companies*. These financial statements report on the Allspring Short Duration Government Bond Fund (the "Fund") which is a diversified series of the Trust.

Effective at the close of business on September 12, 2025, Administrator Class shares were converted to Institutional Class shares in a tax-free conversion. Shareholders of Administrator Class received Institutional Class shares at a value equal to the value of their Administrator Class shares immediately prior to the conversion. Administrator Class shares are no longer offered by the Fund. Additionally, effective at the close of business on November 14, 2025, Class C shares were converted to Class A shares in a tax-free conversion. Shareholders of Class C received Class A shares at a value equal to the value of their Class C shares immediately prior to the conversion. Class C shares are no longer offered by the Fund.

2. SIGNIFICANT ACCOUNTING POLICIES

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

Securities valuation

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

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

Futures contracts that are listed on a foreign or domestic exchange or market are valued at the official closing price or, if none, the last sales price.

Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.

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

Futures contracts

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

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

Mortgage dollar roll transactions

The Fund may engage in mortgage dollar roll transactions through To Be Announced (TBA) mortgage-backed securities issued by Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC). In a mortgage dollar roll transaction, the Fund sells a mortgage-backed security to a financial institution, such as a bank or broker-dealer and simultaneously agrees to repurchase a substantially similar security from the institution at a later date at an agreed upon price. The mortgage-backed securities that are repurchased will bear the same interest rate as those sold, but generally will be collateralized by different pools of mortgages with different pre-payment

Allspring Short Duration Government Bond Fund \| 13

------

Notes to financial statements (unaudited)

histories. During the roll period, the Fund foregoes principal and interest paid on the securities. The Fund is compensated by the difference between the current sales price and the forward price for the future purchase as well as by the earnings on the cash proceeds of the initial sale. Mortgage dollar rolls may be renewed without physical delivery of the securities subject to the contract. The Fund accounts for TBA dollar roll transactions as purchases and sales which, as a result, may increase its portfolio turnover rate.

Security transactions and income recognition

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

Interest income is accrued daily and bond discounts are accreted and premiums are amortized daily. To the extent debt obligations are placed on non-accrual status, any related interest income may be reduced by writing off interest receivables when the collection of all or a portion of interest has been determined to be doubtful based on consistently applied procedures and the fair value has decreased. If the issuer subsequently resumes interest payments or when the collectability of interest is reasonably assured, the debt obligation is removed from non-accrual status. Paydown gains and losses are included in interest income.

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

Distributions to shareholders

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

Federal and other taxes

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

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

As of February 28, 2026, the aggregate cost of all investments for federal income tax purposes was $220,699,490 and the unrealized gains (losses) consisted of:

---

| | |
|:---|:---|
| Gross unrealized gains | &nbsp;&nbsp; $1506464 |
| Gross unrealized losses | &nbsp;&nbsp; (577528)<br>|
| **Net unrealized gains** | &nbsp;&nbsp; **$928936** |

---

As of August 31, 2025, the Fund had capital loss carryforwards which consisted of $59,364,990 in short-term capital losses and $69,332,685 in long-term capital losses.

Class allocations

The separate classes of shares offered by the Fund differ principally in applicable sales charges, distribution, shareholder servicing, and administration fees. Class specific expenses are charged directly to that share class. Investment income, common fund-level expenses, and realized and unrealized gains (losses) on investments are allocated daily to each class of shares based on the relative proportion of net assets of each class.&nbsp;&nbsp;&nbsp;&nbsp;

3. FAIR VALUATION MEASUREMENTS

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

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

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

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

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

14 \| Allspring Short Duration Government Bond Fund

------

Notes to financial statements (unaudited)

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Agency securities** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $169177330 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $169177330 |
| **Asset-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 10218384 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 10218384 |
| **Non-agency mortgage-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1545852 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1545852 |
| **U.S. Treasury securities** | &nbsp;&nbsp; 33857922 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 33857922 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 6784726 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 6784726 |
|  | &nbsp;&nbsp; 40642648 | &nbsp;&nbsp;&nbsp; 180941566 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 221584214 |
| **Futures contracts** | &nbsp;&nbsp; 113766 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 113766 |
| **Total assets** | &nbsp;&nbsp; **$40756414** | &nbsp;&nbsp;&nbsp; **$180941566** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$221697980** |
| **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** |
| **Futures contracts** | &nbsp;&nbsp; $69554 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $69554 |
| **Total liabilities** | &nbsp;&nbsp; **$69554** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$69554** |

---

Futures contracts are reported at their cumulative unrealized gains (losses) at measurement date as reported in the table following the Portfolio of investments. For futures contracts, the current day's variation margin is reported on the Statement of assets and liabilities. All other assets and liabilities are reported at their market value at measurement date.

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

At February 28, 2026, the Fund did not have any transfers into/out of Level 3.

4. TRANSACTIONS WITH AFFILIATES

Management fee

Allspring Funds Management, a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P., is the manager of the Fund and provides advisory and fund-level administrative services under an investment management agreement. Under the investment management agreement, Allspring Funds Management is responsible for, among other services, implementing the investment objectives and strategies of the Fund, supervising the subadviser and providing fund-level administrative services in connection with the Fund's operations. As compensation for its services under the investment management agreement, Allspring Funds Management is entitled to receive a management fee, which is generally paid monthly, at the following annual rate based on the Fund's average daily net assets:

---

| | |
|:---|:---|
| Average daily net assets | Management fee |
| First $1 billion | 0.350<br> %<br>|
| Next $4 billion | 0.325 |
| Next $3 billion | 0.290 |
| Next $2 billion | 0.265 |
| Over $10 billion | 0.255 |

---

For the six months ended February 28, 2026, the management fee was equivalent to an annual rate of 0.35% of the Fund's average daily net assets.

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

Administration fees

Under a class-level administration agreement, Allspring Funds Management provides class-level administrative services to the Fund, which includes paying fees and expenses for services provided by the transfer agent, sub-transfer agents, omnibus account servicers and record-keepers. As

Allspring Short Duration Government Bond Fund \| 15

------

Notes to financial statements (unaudited)

compensation for its services under the class-level administration agreement, Allspring Funds Management receives an annual fee which is calculated based on the average daily net assets of each class and generally paid monthly, as follows:

---

| | |
|:---|:---|
|  | Class-level <br>administration fee<br>|
| Class A | 0.15<br> %<br>|
| Class C | 0.15 |
| Class R6 | 0.03 |
| Administrator Class | 0.10 |
| Institutional Class | 0.08 |

---

Waivers and/or expense reimbursements

Allspring Funds Management has contractually committed to waive and/or reimburse management and administration fees to the extent necessary to maintain certain net operating expense ratios for the Fund. When each class of the Fund has exceeded its expense cap, Allspring Funds Management will waive fees and/or reimbursed expenses from fund-level expenses on a proportionate basis and then from class specific expenses. When only certain classes exceed their expense caps, waivers and/or reimbursements are applied against class specific expenses before fund-level expenses. Allspring Funds Management has contractually committed through December 31, 2026 to waive fees and/or reimburse expenses to the extent necessary to cap the Fund's expenses. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. As of February 28, 2026, the contractual caps are as follows:&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | EXPENSE RATIO CAPS |
| Class A | 0.77<br> %<br>|
| Class R6 | 0.37 |
| Institutional Class | 0.42 |

---

Distribution fee

The Trust has adopted a distribution plan for Class C shares pursuant to Rule 12b-1 under the 1940 Act. A distribution fee is charged to Class C shares and paid to Allspring Funds Distributor, LLC ("Allspring Funds Distributor"), the principal underwriter, an affiliate of Allspring Funds Management, at an annual rate up to 0.75% of the average daily net assets of Class C shares. Such fees are generally paid on a monthly basis.

In addition, Allspring Funds Distributor is entitled to receive the front-end sales charge from the purchase of Class A shares and a contingent deferred sales charge on the redemption of certain Class A shares. Allspring Funds Distributor is also entitled to receive the contingent deferred sales charges from redemptions of Class C shares. For the six months ended February 28, 2026, Allspring Funds Distributor received $17 from the sale of Class A shares and $227 in contingent deferred sales charges from redemptions of Class A shares. No contingent deferred sales charges were incurred by Class C shares for the six months ended February 28, 2026.

Shareholder servicing fees

The Trust has entered into contracts with one or more shareholder servicing agents, whereby Class A, Class C and Administrator Class are charged a fee at an annual rate up to 0.25% of the average daily net assets of each respective class. These fees are generally paid on a monthly basis. A portion of these total shareholder servicing fees were paid to affiliates of the Fund.

Interfund transactions

The Fund may purchase or sell portfolio investment securities to certain affiliates pursuant to Rule 17a-7 under the 1940 Act and under procedures adopted by the Board of Trustees. The procedures have been designed to ensure that these interfund transactions, which do not incur broker commissions, are effected at current market prices. Pursuant to these procedures, the Fund did not have any interfund transactions during the six months ended February 28, 2026.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments, excluding short-term securities, for the six months ended February 28, 2026 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| Purchases at cost | Purchases at cost | Sales Proceeds | Sales Proceeds |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $287155559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $6389967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $257502947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $7802295 |

---

16 \| Allspring Short Duration Government Bond Fund

------

Notes to financial statements (unaudited)

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

6. DERIVATIVE TRANSACTIONS

During the six months ended February 28, 2026, the Fund entered into futures contracts to speculate on interest rates and to help manage the duration of the portfolio. The Fund had an average notional amount of $77,353,943 in long futures contracts and $15,887,452 in short futures contracts during the six months ended February 28, 2026.

The fair value, realized gains or losses and change in unrealized gains or losses, if any, on derivative instruments are reflected in the corresponding financial statement captions.

7. BANK BORROWINGS

The Fund, together with certain other registered Allspring Funds is party to a $275,000,000 revolving credit agreement whereby the Fund is permitted to use bank borrowings for temporary or emergency purposes, such as to fund shareholder redemption requests. Interest under the credit agreement is charged to the Fund based on a borrowing rate equal to the higher of the Federal Funds rate or the overnight bank funding rate in effect on that day plus a spread. In addition, an annual commitment fee based on the unused balance is allocated to each participating fund.

For the six months ended February 28, 2026, there were no borrowings by the Fund under the agreement.

8. INDEMNIFICATION

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

9. OPERATING SEGMENTS

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

10. NEW ACCOUNTING PRONOUNCEMENT

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

Allspring Short Duration Government Bond Fund \| 17

------

Other information (unaudited)

Other information

Proxy voting information

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

Quarterly portfolio holdings information

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

18 \| Allspring Short Duration Government Bond Fund

------

Other information (unaudited)

Item 8. Changes in and disagreements with accountants

Not applicable

Item 9. Matters submitted to fund shareholders for a vote

Not applicable

Item 10. Remuneration paid to directors, officers and others

Refer to information in the Statement of operations.

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

Not applicable

Allspring Short Duration Government Bond Fund \| 19

------

*This page is intentionally left blank.*

------

![](g132415img8507b8a31.jpg)

For more information

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

Allspring Funds

P.O. Box 219967

Kansas City, MO 64121-9967

Website: **allspringglobal.com**

Individual investors: **1-800-222-8222**

Retail investment professionals: **1-888-877-9275**

Institutional investment professionals: **1-800-260-5969**

![](g132415img8eacba652.gif)

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. If this report is used for promotional purposes, distribution of the report must be accompanied or preceded by a current prospectus. Before investing, please consider the investment objectives, risks, charges, and expenses of the investment. For a current prospectus and, if available, a summary prospectus, containing this information, call* ***1-800-222-8222*** *or visit the Fund's website at* ***allspringglobal.com****. Read the prospectus carefully before you invest or send money.*

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

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

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

**NCSRS0932 02-26**

------

![](g132415img97fe47101.jpg)

Allspring Short-Term High Income Fund

Long Form Financial Statements

Semi-Annual Report

February 28, 2026

------

Contents

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

---

| | |
|:---|:---|
| **[Portfolio of investments](#xx_394446f1-0a82-46bd-88f5-766d808d2819_POI-PageBlank-100_1)** | 2 |
| **[Item 7. Financial statements and financial highlights](#xx_394446f1-0a82-46bd-88f5-766d808d2819_FS-PageBlank-100_1)** |  |
| [Statement of assets and liabilities](#xx_394446f1-0a82-46bd-88f5-766d808d2819_FS-PageBlank-100_1) | 12 |
| [Statement of operations](#xx_394446f1-0a82-46bd-88f5-766d808d2819_FS-PageBlank-100_2) | 13 |
| [Statement of changes in net assets](#xx_394446f1-0a82-46bd-88f5-766d808d2819_FS-PageBlank-100_3) | 14 |
| [Financial highlights](#xx_394446f1-0a82-46bd-88f5-766d808d2819_FIHI-PageBlank-100_1) | 15 |
| **[Notes to financial statements](#xx_394446f1-0a82-46bd-88f5-766d808d2819_NTF-PageBlank-100_1)** | 18 |
| **[Other information](#xx_394446f1-0a82-46bd-88f5-766d808d2819_OI-PageBlank-100_1)** | 23 |
| [Item 8. Changes in and disagreements with accountants](#xx_394446f1-0a82-46bd-88f5-766d808d2819_OI-PageBlank-100_2) | 24 |
| [Item 9. Matters submitted to fund shareholders for a vote](#xx_394446f1-0a82-46bd-88f5-766d808d2819_OI-PageBlank-100_2) | 24 |
| [Item 10. Remuneration paid to directors, officers and others](#xx_394446f1-0a82-46bd-88f5-766d808d2819_OI-PageBlank-100_2) | 24 |
| [Item 11. Statement regarding basis for board](#xx_394446f1-0a82-46bd-88f5-766d808d2819_OI-PageBlank-100_2)['](#xx_394446f1-0a82-46bd-88f5-766d808d2819_OI-PageBlank-100_2)[s approval of investment](#xx_394446f1-0a82-46bd-88f5-766d808d2819_OI-PageBlank-100_2)<br> [advisory contract](#xx_394446f1-0a82-46bd-88f5-766d808d2819_OI-PageBlank-100_2)<br>| 24 |

---

Allspring Short-Term High Income Fund \| 1

------

Portfolio of investments—February 28, 2026 (unaudited)

Portfolio of investments

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest <br>rate<br>| Maturity <br>date<br>| Principal | Value |
| **Asset-backed securities: 1.58%** |  |  |  |  |
| &nbsp;&nbsp; Bain Capital Credit CLO Ltd. Series 2022-3A Class BR (U.S. SOFR 3 <br> Month+1.63%)144A±<br>| 5.30<br> %<br>| &nbsp;&nbsp; 7-17-2035 | $10000000 | &nbsp;&nbsp; $10011700 |
| Flexential Issuer LLC Series 2021-1A Class B144A | 3.72 | &nbsp;&nbsp; 11-27-2051 | 1925000 | &nbsp;&nbsp; 1901487 |
| &nbsp;&nbsp; Jamestown CLO IX Ltd. Series 2016-9A Class A2R3 (U.S. SOFR 3 <br> Month+1.70%)144A±<br>| 5.37 | &nbsp;&nbsp; 7-25-2034 | 7700000 | &nbsp;&nbsp; 7703427 |
| &nbsp;&nbsp; LCM 34 Ltd. Series 34A Class BR (U.S. SOFR 3 <br> Month+1.70%)144A±<br>| 5.37 | &nbsp;&nbsp; 10-20-2034 | 10000000 | &nbsp;&nbsp; 10010730 |
| &nbsp;&nbsp; Wellfleet CLO Ltd. Series 2021-2A Class BR (U.S. SOFR 3 <br> Month+1.75%)144A±<br>| 5.42 | &nbsp;&nbsp; 7-15-2034 | 10000000 | &nbsp;&nbsp; 10017070 |
| **Total asset-backed securities (Cost $39,585,098)** |  |  |  | &nbsp;&nbsp; **39644414** |
| **Corporate bonds and notes: 76.72%** |  |  |  |  |
| **Basic materials: 3.16%** |  |  |  |  |
| **Chemicals: 2.09%** |  |  |  |  |
| Celanese U.S. Holdings LLC | 6.50 | &nbsp;&nbsp; 4-15-2030 | 9660000 | &nbsp;&nbsp; 9899220 |
| Celanese U.S. Holdings LLC | 6.85 | &nbsp;&nbsp; 11-15-2028 | 4818000 | &nbsp;&nbsp; 5070569 |
| Chemours Co. | 5.38 | &nbsp;&nbsp; 5-15-2027 | 14150000 | &nbsp;&nbsp; 14299000 |
| Chemours Co.144A | 5.75 | &nbsp;&nbsp; 11-15-2028 | 11740000 | &nbsp;&nbsp; 11808256 |
| SCIH Salt Holdings, Inc.144A | 4.88 | &nbsp;&nbsp; 5-1-2028 | 11410000 | &nbsp;&nbsp; 11366317 |
|  |  |  |  | &nbsp;&nbsp; **52443362** |
| **Iron/steel: 1.07%** |  |  |  |  |
| Cleveland-Cliffs, Inc.144A | 6.88 | &nbsp;&nbsp; 11-1-2029 | 26155000 | &nbsp;&nbsp; **26940042** |
| **Communications: 7.21%** |  |  |  |  |
| **Advertising: 0.70%** |  |  |  |  |
| Clear Channel Outdoor Holdings, Inc.144A | 7.13 | &nbsp;&nbsp; 2-15-2031 | 13025000 | &nbsp;&nbsp; 13767567 |
| Outfront Media Capital LLC/Outfront Media Capital Corp.144A | 5.00 | &nbsp;&nbsp; 8-15-2027 | 3760000 | &nbsp;&nbsp; 3761181 |
|  |  |  |  | &nbsp;&nbsp; **17528748** |
| **Internet: 1.78%** |  |  |  |  |
| Arches Buyer, Inc.144A | 4.25 | &nbsp;&nbsp; 6-1-2028 | 12270000 | &nbsp;&nbsp; 11883817 |
| Gen Digital, Inc.144A | 6.75 | &nbsp;&nbsp; 9-30-2027 | 21650000 | &nbsp;&nbsp; 21814778 |
| Wayfair LLC144A | 7.25 | &nbsp;&nbsp; 10-31-2029 | 10860000 | &nbsp;&nbsp; 11223180 |
|  |  |  |  | &nbsp;&nbsp; **44921775** |
| **Media: 4.07%** |  |  |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp.144A | 5.00 | &nbsp;&nbsp; 2-1-2028 | 17655000 | &nbsp;&nbsp; 17616934 |
| CCO Holdings LLC/CCO Holdings Capital Corp.144A | 5.13 | &nbsp;&nbsp; 5-1-2027 | 12206000 | &nbsp;&nbsp; 12203269 |
| CCO Holdings LLC/CCO Holdings Capital Corp.144A | 5.38 | &nbsp;&nbsp; 6-1-2029 | 4000000 | &nbsp;&nbsp; 3990484 |
| DIRECTV Financing LLC/DIRECTV Financing Co-Obligor, Inc.144A | 5.88 | &nbsp;&nbsp; 8-15-2027 | 17865000 | &nbsp;&nbsp; 17885759 |
| Nexstar Media, Inc.144A | 5.63 | &nbsp;&nbsp; 7-15-2027 | 16125000 | &nbsp;&nbsp; 16126516 |
| Paramount Global (U.S. SOFR 3 Month+3.90%)± | 6.25 | &nbsp;&nbsp; 2-28-2057 | 7130000 | &nbsp;&nbsp; 5527889 |
| Sirius XM Radio LLC144A | 5.00 | &nbsp;&nbsp; 8-1-2027 | 28930000 | &nbsp;&nbsp; 28912943 |
|  |  |  |  | &nbsp;&nbsp; **102263794** |

---

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

2 \| Allspring Short-Term High Income Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Telecommunications: 0.66%** |  |  |  |  |
| Frontier California, Inc. Series F | 6.75<br> %<br>| &nbsp;&nbsp; 5-15-2027 | $5650000 | &nbsp;&nbsp; $5791250 |
| Viasat, Inc.144A | 5.63 | &nbsp;&nbsp; 4-15-2027 | 10950000 | &nbsp;&nbsp; 10929812 |
|  |  |  |  | &nbsp;&nbsp; **16721062** |
| **Consumer, cyclical: 17.72%** |  |  |  |  |
| **Airlines: 0.45%** |  |  |  |  |
| American Airlines, Inc.144A | 7.25 | &nbsp;&nbsp; 2-15-2028 | 6600000 | &nbsp;&nbsp; 6726518 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd.144A | 5.50 | &nbsp;&nbsp; 4-20-2026 | 4590000 | &nbsp;&nbsp; 4596215 |
|  |  |  |  | &nbsp;&nbsp; **11322733** |
| **Apparel: 0.50%** |  |  |  |  |
| Crocs, Inc.144A | 4.25 | &nbsp;&nbsp; 3-15-2029 | 12920000 | &nbsp;&nbsp; **12588564** |
| **Auto manufacturers: 2.40%** |  |  |  |  |
| Ford Motor Credit Co. LLC | 4.13 | &nbsp;&nbsp; 8-17-2027 | 8900000 | &nbsp;&nbsp; 8866459 |
| Ford Motor Credit Co. LLC | 6.80 | &nbsp;&nbsp; 5-12-2028 | 8545000 | &nbsp;&nbsp; 8938509 |
| Nissan Motor Acceptance Co. LLC144A | 2.00 | &nbsp;&nbsp; 3-9-2026 | 14099000 | &nbsp;&nbsp; 14057359 |
| Nissan Motor Acceptance Co. LLC144A | 5.63 | &nbsp;&nbsp; 9-29-2028 | 11315000 | &nbsp;&nbsp; 11387883 |
| Nissan Motor Acceptance Co. LLC144A | 6.95 | &nbsp;&nbsp; 9-15-2026 | 12566000 | &nbsp;&nbsp; 12694802 |
| Nissan Motor Acceptance Co. LLC144A | 7.05 | &nbsp;&nbsp; 9-15-2028 | 4140000 | &nbsp;&nbsp; 4301918 |
|  |  |  |  | &nbsp;&nbsp; **60246930** |
| **Auto parts & equipment: 0.84%** |  |  |  |  |
| Adient Global Holdings Ltd.144A | 8.25 | &nbsp;&nbsp; 4-15-2031 | 10230000 | &nbsp;&nbsp; 10702053 |
| American Axle & Manufacturing, Inc. | 5.00 | &nbsp;&nbsp; 10-1-2029 | 8830000 | &nbsp;&nbsp; 8626487 |
| ZF North America Capital, Inc.144A | 6.88 | &nbsp;&nbsp; 4-14-2028 | 1835000 | &nbsp;&nbsp; 1896673 |
|  |  |  |  | &nbsp;&nbsp; **21225213** |
| **Distribution/wholesale: 0.31%** |  |  |  |  |
| RB Global Holdings, Inc.144A | 7.75 | &nbsp;&nbsp; 3-15-2031 | 7462000 | &nbsp;&nbsp; **7757980** |
| **Entertainment: 5.36%** |  |  |  |  |
| Churchill Downs, Inc.144A | 5.50 | &nbsp;&nbsp; 4-1-2027 | 29540000 | &nbsp;&nbsp; 29554534 |
| Cinemark USA, Inc.144A | 5.25 | &nbsp;&nbsp; 7-15-2028 | 26975000 | &nbsp;&nbsp; 26979855 |
| Discovery Global Holdings, Inc. | 4.05 | &nbsp;&nbsp; 3-15-2029 | 39000000 | &nbsp;&nbsp; 38585430 |
| Live Nation Entertainment, Inc.144A | 6.50 | &nbsp;&nbsp; 5-15-2027 | 21600000 | &nbsp;&nbsp; 21702384 |
| SeaWorld Parks & Entertainment, Inc.144A | 5.25 | &nbsp;&nbsp; 8-15-2029 | 13435000 | &nbsp;&nbsp; 13032079 |
| &nbsp;&nbsp; Six Flags Entertainment Corp./Canada's Wonderland Co./Magnum <br> Management Corp.<br>| 5.25 | &nbsp;&nbsp; 7-15-2029 | 5000000 | &nbsp;&nbsp; 4809134 |
|  |  |  |  | &nbsp;&nbsp; **134663416** |
| **Home builders: 0.92%** |  |  |  |  |
| K Hovnanian Enterprises, Inc.144A | 8.00 | &nbsp;&nbsp; 4-1-2031 | 4640000 | &nbsp;&nbsp; 4772157 |
| LGI Homes, Inc.144A | 8.75 | &nbsp;&nbsp; 12-15-2028 | 8790000 | &nbsp;&nbsp; 9171152 |
| Taylor Morrison Communities, Inc.144A | 5.75 | &nbsp;&nbsp; 1-15-2028 | 2733000 | &nbsp;&nbsp; 2787635 |
| Tri Pointe Homes, Inc. | 5.70 | &nbsp;&nbsp; 6-15-2028 | 6282000 | &nbsp;&nbsp; 6378988 |
|  |  |  |  | &nbsp;&nbsp; **23109932** |

---

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

Allspring Short-Term High Income Fund \| 3

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Home furnishings: 0.41%** |  |  |  |  |
| Whirlpool Corp. | 6.13<br> %<br>| &nbsp;&nbsp; 6-15-2030 | $10305000 | &nbsp;&nbsp; **$10351249** |
| **Housewares: 0.84%** |  |  |  |  |
| Central Garden & Pet Co. | 5.13 | &nbsp;&nbsp; 2-1-2028 | 3000000 | &nbsp;&nbsp; 2996911 |
| Newell Brands, Inc.144A | 8.50 | &nbsp;&nbsp; 6-1-2028 | 17130000 | &nbsp;&nbsp; 18031062 |
|  |  |  |  | &nbsp;&nbsp; **21027973** |
| **Leisure time: 1.01%** |  |  |  |  |
| NCL Corp. Ltd.144A | 5.88 | &nbsp;&nbsp; 1-15-2031 | 15170000 | &nbsp;&nbsp; 15329740 |
| VOC Escrow Ltd.144A | 5.00 | &nbsp;&nbsp; 2-15-2028 | 10130000 | &nbsp;&nbsp; 10121373 |
|  |  |  |  | &nbsp;&nbsp; **25451113** |
| **Retail: 4.68%** |  |  |  |  |
| Advance Auto Parts, Inc. | 1.75 | &nbsp;&nbsp; 10-1-2027 | 2620000 | &nbsp;&nbsp; 2502089 |
| Advance Auto Parts, Inc.144A | 7.00 | &nbsp;&nbsp; 8-1-2030 | 20735000 | &nbsp;&nbsp; 21271518 |
| Bath & Body Works, Inc.144A | 6.63 | &nbsp;&nbsp; 10-1-2030 | 8855000 | &nbsp;&nbsp; 9069574 |
| Carvana Co.144A | 9.00 | &nbsp;&nbsp; 6-1-2030 | 11675000 | &nbsp;&nbsp; 12154375 |
| Carvana Co.144A | 9.00 | &nbsp;&nbsp; 6-1-2031 | 10875000 | &nbsp;&nbsp; 11926971 |
| FirstCash, Inc.144A | 4.63 | &nbsp;&nbsp; 9-1-2028 | 19375000 | &nbsp;&nbsp; 19139284 |
| Gap, Inc.144A | 3.63 | &nbsp;&nbsp; 10-1-2029 | 8750000 | &nbsp;&nbsp; 8323402 |
| Group 1 Automotive, Inc.144A | 6.38 | &nbsp;&nbsp; 1-15-2030 | 8795000 | &nbsp;&nbsp; 9015640 |
| Kohl's Corp.144A | 10.00 | &nbsp;&nbsp; 6-1-2030 | 13585000 | &nbsp;&nbsp; 14788930 |
| Lithia Motors, Inc.144A | 4.63 | &nbsp;&nbsp; 12-15-2027 | 6710000 | &nbsp;&nbsp; 6694382 |
| Nordstrom, Inc. | 4.38 | &nbsp;&nbsp; 4-1-2030 | 3020000 | &nbsp;&nbsp; 2907773 |
|  |  |  |  | &nbsp;&nbsp; **117793938** |
| **Consumer, non-cyclical: 8.47%** |  |  |  |  |
| **Commercial services: 3.66%** |  |  |  |  |
| &nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas <br> Luxco 4 Sarl144A<br>| 4.63 | &nbsp;&nbsp; 6-1-2028 | 3140000 | &nbsp;&nbsp; 3116553 |
| Block, Inc. | 2.75 | &nbsp;&nbsp; 6-1-2026 | 1760000 | &nbsp;&nbsp; 1752656 |
| CoreCivic, Inc. | 8.25 | &nbsp;&nbsp; 4-15-2029 | 16385000 | &nbsp;&nbsp; 17037877 |
| GEO Group, Inc. | 8.63 | &nbsp;&nbsp; 4-15-2029 | 34200000 | &nbsp;&nbsp; 35585647 |
| GEO Group, Inc. | 10.25 | &nbsp;&nbsp; 4-15-2031 | 7305000 | &nbsp;&nbsp; 7843570 |
| Herc Holdings, Inc.144A | 7.00 | &nbsp;&nbsp; 6-15-2030 | 15170000 | &nbsp;&nbsp; 15896902 |
| Veritiv Operating Co.144A | 10.50 | &nbsp;&nbsp; 11-30-2030 | 10180000 | &nbsp;&nbsp; 10892295 |
|  |  |  |  | &nbsp;&nbsp; **92125500** |
| **Cosmetics/Personal Care: 0.67%** |  |  |  |  |
| Edgewell Personal Care Co.144A | 5.50 | &nbsp;&nbsp; 6-1-2028 | 16790000 | &nbsp;&nbsp; **16774402** |
| **Food: 0.43%** |  |  |  |  |
| &nbsp;&nbsp; Albertsons Cos., Inc./Safeway, Inc./New <br> Albertsons LP/Albertsons LLC144A<br>| 6.50 | &nbsp;&nbsp; 2-15-2028 | 10560000 | &nbsp;&nbsp; **10747123** |
| **Healthcare-services: 2.10%** |  |  |  |  |
| IQVIA, Inc.144A | 5.00 | &nbsp;&nbsp; 10-15-2026 | 9540000 | &nbsp;&nbsp; 9529673 |
| Molina Healthcare, Inc.144A | 4.38 | &nbsp;&nbsp; 6-15-2028 | 12680000 | &nbsp;&nbsp; 12459189 |
| Star Parent, Inc.144A | 9.00 | &nbsp;&nbsp; 10-1-2030 | 16355000 | &nbsp;&nbsp; 16599753 |

---

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

4 \| Allspring Short-Term High Income Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Healthcare-services**(continued) |  |  |  |  |
| Tenet Healthcare Corp. | 4.63<br> %<br>| &nbsp;&nbsp; 6-15-2028 | $5575000 | &nbsp;&nbsp; $5567364 |
| Tenet Healthcare Corp. | 6.13 | &nbsp;&nbsp; 10-1-2028 | 8705000 | &nbsp;&nbsp; 8725091 |
|  |  |  |  | &nbsp;&nbsp; **52881070** |
| **Pharmaceuticals: 1.61%** |  |  |  |  |
| AdaptHealth LLC144A | 4.63 | &nbsp;&nbsp; 8-1-2029 | 13475000 | &nbsp;&nbsp; 12929063 |
| AdaptHealth LLC144A | 6.13 | &nbsp;&nbsp; 8-1-2028 | 6825000 | &nbsp;&nbsp; 6846233 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV144A | 4.13 | &nbsp;&nbsp; 4-30-2028 | 20995000 | &nbsp;&nbsp; 20610068 |
|  |  |  |  | &nbsp;&nbsp; **40385364** |
| **Energy: 12.24%** |  |  |  |  |
| **Energy-alternate sources: 0.59%** |  |  |  |  |
| TerraForm Power Operating LLC144A | 5.00 | &nbsp;&nbsp; 1-31-2028 | 14815000 | &nbsp;&nbsp; **14833830** |
| **Oil & gas: 2.81%** |  |  |  |  |
| Aethon United BR LP/Aethon United Finance Corp.144A | 7.50 | &nbsp;&nbsp; 10-1-2029 | 17990000 | &nbsp;&nbsp; 18925336 |
| California Resources Corp.144A | 8.25 | &nbsp;&nbsp; 6-15-2029 | 10710000 | &nbsp;&nbsp; 11243454 |
| Hilcorp Energy I LP/Hilcorp Finance Co.144A | 6.25 | &nbsp;&nbsp; 11-1-2028 | 11115000 | &nbsp;&nbsp; 11194606 |
| Nabors Industries, Inc.144A | 9.13 | &nbsp;&nbsp; 1-31-2030 | 11315000 | &nbsp;&nbsp; 11898062 |
| SM Energy Co.144A | 8.38 | &nbsp;&nbsp; 7-1-2028 | 13075000 | &nbsp;&nbsp; 13513849 |
| SM Energy Co.144A | 8.63 | &nbsp;&nbsp; 11-1-2030 | 3665000 | &nbsp;&nbsp; 3878846 |
|  |  |  |  | &nbsp;&nbsp; **70654153** |
| **Oil & gas services: 1.54%** |  |  |  |  |
| Bristow Group, Inc.144A | 6.88 | &nbsp;&nbsp; 3-1-2028 | 14418000 | &nbsp;&nbsp; 14418000 |
| Oceaneering International, Inc. | 6.00 | &nbsp;&nbsp; 2-1-2028 | 21595000 | &nbsp;&nbsp; 21971950 |
| &nbsp;&nbsp; USA Compression Partners LP/USA Compression Finance <br> Corp.144A<br>| 7.13 | &nbsp;&nbsp; 3-15-2029 | 2400000 | &nbsp;&nbsp; 2479994 |
|  |  |  |  | &nbsp;&nbsp; **38869944** |
| **Pipelines: 7.30%** |  |  |  |  |
| &nbsp;&nbsp; Antero Midstream Partners LP/Antero Midstream Finance <br> Corp.144A<br>| 5.75 | &nbsp;&nbsp; 1-15-2028 | 10670000 | &nbsp;&nbsp; 10666150 |
| Buckeye Partners LP144A | 6.88 | &nbsp;&nbsp; 7-1-2029 | 13950000 | &nbsp;&nbsp; 14473502 |
| &nbsp;&nbsp; Energy Transfer LP Series H (5 Year Treasury Constant <br> Maturity+5.69%)ʊ±<br>| 6.50 | &nbsp;&nbsp; 11-15-2026 | 2010000 | &nbsp;&nbsp; 2018754 |
| Excelerate Energy LP144A | 8.00 | &nbsp;&nbsp; 5-15-2030 | 19170000 | &nbsp;&nbsp; 20320794 |
| Harvest Midstream I LP144A | 7.50 | &nbsp;&nbsp; 9-1-2028 | 23330000 | &nbsp;&nbsp; 23589989 |
| Hess Midstream Operations LP144A | 5.88 | &nbsp;&nbsp; 3-1-2028 | 25855000 | &nbsp;&nbsp; 26283909 |
| Hess Midstream Operations LP144A | 6.50 | &nbsp;&nbsp; 6-1-2029 | 1580000 | &nbsp;&nbsp; 1634918 |
| Kinetik Holdings LP144A | 6.63 | &nbsp;&nbsp; 12-15-2028 | 28860000 | &nbsp;&nbsp; 29752351 |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.144A | 5.50 | &nbsp;&nbsp; 1-15-2028 | 18445000 | &nbsp;&nbsp; 18427023 |
| Venture Global LNG, Inc.144A | 8.13 | &nbsp;&nbsp; 6-1-2028 | 35435000 | &nbsp;&nbsp; 36359322 |
|  |  |  |  | &nbsp;&nbsp; **183526712** |
| **Financial: 16.13%** |  |  |  |  |
| **Banks: 2.91%** |  |  |  |  |
| &nbsp;&nbsp; Bank of America Corp. Series RR (5 Year Treasury Constant <br> Maturity+2.76%)ʊ±<br>| 4.38 | &nbsp;&nbsp; 1-27-2027 | 22920000 | &nbsp;&nbsp; 22771368 |

---

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

Allspring Short-Term High Income Fund \| 5

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Banks**(continued) |  |  |  |  |
| &nbsp;&nbsp; Bank of New York Mellon Corp. Series I (5 Year Treasury Constant <br> Maturity+2.63%)ʊ±<br>| 3.75<br> %<br>| &nbsp;&nbsp; 12-20-2026 | $6425000 | &nbsp;&nbsp; $6328911 |
| Citigroup, Inc. Series T (U.S. SOFR 3 Month+4.78%)ʊ± | 6.25 | &nbsp;&nbsp; 8-15-2026 | 19275000 | &nbsp;&nbsp; 19363896 |
| &nbsp;&nbsp; Citigroup, Inc. Series Z (5 Year Treasury Constant <br> Maturity+3.21%)ʊ±<br>| 7.38 | &nbsp;&nbsp; 5-15-2028 | 5297000 | &nbsp;&nbsp; 5525790 |
| &nbsp;&nbsp; Huntington Bancshares, Inc. Series G (7 Year Treasury Constant <br> Maturity+4.05%)ʊ±<br>| 4.45 | &nbsp;&nbsp; 10-15-2027 | 19355000 | &nbsp;&nbsp; 19221031 |
|  |  |  |  | &nbsp;&nbsp; **73210996** |
| **Diversified financial services: 7.77%** |  |  |  |  |
| &nbsp;&nbsp; Aircastle Ltd. Series A (5 Year Treasury Constant <br> Maturity+4.41%)144Aʊ±<br>| 5.25 | &nbsp;&nbsp; 6-15-2026 | 9535000 | &nbsp;&nbsp; 9529267 |
| Azorra Finance Ltd.144A | 7.75 | &nbsp;&nbsp; 4-15-2030 | 15690000 | &nbsp;&nbsp; 16478829 |
| &nbsp;&nbsp; Capital One Financial Corp. Series O (U.S. SOFR 3 <br> Month+3.34%)ʊ±<br>| 5.50 | &nbsp;&nbsp; 10-30-2027 | 13835000 | &nbsp;&nbsp; 13919200 |
| Encore Capital Group, Inc.144A | 9.25 | &nbsp;&nbsp; 4-1-2029 | 10180000 | &nbsp;&nbsp; 10654830 |
| Jefferson Capital Holdings LLC144A | 6.00 | &nbsp;&nbsp; 8-15-2026 | 17285000 | &nbsp;&nbsp; 17276012 |
| Jefferson Capital Holdings LLC144A | 9.50 | &nbsp;&nbsp; 2-15-2029 | 4535000 | &nbsp;&nbsp; 4778820 |
| Navient Corp. | 4.88 | &nbsp;&nbsp; 3-15-2028 | 12100000 | &nbsp;&nbsp; 11559664 |
| Navient Corp. | 5.00 | &nbsp;&nbsp; 3-15-2027 | 11235000 | &nbsp;&nbsp; 11064972 |
| OneMain Finance Corp. | 5.38 | &nbsp;&nbsp; 11-15-2029 | 18720000 | &nbsp;&nbsp; 18507704 |
| PRA Group, Inc.144A | 8.38 | &nbsp;&nbsp; 2-1-2028 | 18815000 | &nbsp;&nbsp; 18958646 |
| Rocket Cos., Inc.144A | 6.13 | &nbsp;&nbsp; 8-1-2030 | 9410000 | &nbsp;&nbsp; 9654227 |
| Rocket Cos., Inc.144A | 6.50 | &nbsp;&nbsp; 8-1-2029 | 7345000 | &nbsp;&nbsp; 7546025 |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.144A | 2.88 | &nbsp;&nbsp; 10-15-2026 | 11865000 | &nbsp;&nbsp; 11719510 |
| United Wholesale Mortgage LLC144A | 5.50 | &nbsp;&nbsp; 4-15-2029 | 17360000 | &nbsp;&nbsp; 17025524 |
| United Wholesale Mortgage LLC144A | 5.75 | &nbsp;&nbsp; 6-15-2027 | 16915000 | &nbsp;&nbsp; 16841565 |
|  |  |  |  | &nbsp;&nbsp; **195514795** |
| **Insurance: 1.16%** |  |  |  |  |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer144A | 6.75 | &nbsp;&nbsp; 4-15-2028 | 17145000 | &nbsp;&nbsp; 17342305 |
| AmWINS Group, Inc.144A | 6.38 | &nbsp;&nbsp; 2-15-2029 | 8625000 | &nbsp;&nbsp; 8776912 |
| HUB International Ltd.144A | 7.25 | &nbsp;&nbsp; 6-15-2030 | 2970000 | &nbsp;&nbsp; 3063419 |
|  |  |  |  | &nbsp;&nbsp; **29182636** |
| **REITs: 4.29%** |  |  |  |  |
| Blackstone Mortgage Trust, Inc.144A | 3.75 | &nbsp;&nbsp; 1-15-2027 | 9806000 | &nbsp;&nbsp; 9651088 |
| Brandywine Operating Partnership LP | 3.95 | &nbsp;&nbsp; 11-15-2027 | 5180000 | &nbsp;&nbsp; 5077496 |
| Brandywine Operating Partnership LP | 8.88 | &nbsp;&nbsp; 4-12-2029 | 5885000 | &nbsp;&nbsp; 6251771 |
| Iron Mountain, Inc.144A | 5.25 | &nbsp;&nbsp; 3-15-2028 | 24240000 | &nbsp;&nbsp; 24214167 |
| &nbsp;&nbsp; Ladder Capital Finance Holdings LLLP/Ladder Capital Finance <br> Corp.144A<br>| 4.25 | &nbsp;&nbsp; 2-1-2027 | 5000000 | &nbsp;&nbsp; 4964992 |
| &nbsp;&nbsp; Ladder Capital Finance Holdings LLLP/Ladder Capital Finance <br> Corp.144A<br>| 4.75 | &nbsp;&nbsp; 6-15-2029 | 11085000 | &nbsp;&nbsp; 10977440 |
| &nbsp;&nbsp; Park Intermediate Holdings LLC/PK Domestic Property LLC/PK <br> Finance Co-Issuer144A<br>| 5.88 | &nbsp;&nbsp; 10-1-2028 | 19165000 | &nbsp;&nbsp; 19163189 |

---

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

6 \| Allspring Short-Term High Income Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **REITs**(continued) |  |  |  |  |
| Starwood Property Trust, Inc.144A | 3.63<br> %<br>| &nbsp;&nbsp; 7-15-2026 | $20690000 | &nbsp;&nbsp; $20564317 |
| XHR LP144A | 6.63 | &nbsp;&nbsp; 5-15-2030 | 6645000 | &nbsp;&nbsp; 6890473 |
|  |  |  |  | &nbsp;&nbsp; **107754933** |
| **Industrial: 5.65%** |  |  |  |  |
| **Aerospace/defense: 1.06%** |  |  |  |  |
| TransDigm, Inc.144A | 6.38 | &nbsp;&nbsp; 3-1-2029 | 25950000 | &nbsp;&nbsp; **26655347** |
| **Electrical components & equipment: 1.05%** |  |  |  |  |
| Energizer Holdings, Inc.144A | 4.75 | &nbsp;&nbsp; 6-15-2028 | 12755000 | &nbsp;&nbsp; 12632998 |
| WESCO Distribution, Inc.144A | 6.38 | &nbsp;&nbsp; 3-15-2029 | 13275000 | &nbsp;&nbsp; 13647085 |
|  |  |  |  | &nbsp;&nbsp; **26280083** |
| **Machinery-diversified: 0.72%** |  |  |  |  |
| Chart Industries, Inc.144A | 7.50 | &nbsp;&nbsp; 1-1-2030 | 700000 | &nbsp;&nbsp; 727168 |
| TK Elevator U.S. Newco, Inc.144A | 5.25 | &nbsp;&nbsp; 7-15-2027 | 17430000 | &nbsp;&nbsp; 17422925 |
|  |  |  |  | &nbsp;&nbsp; **18150093** |
| **Miscellaneous manufacturing: 0.19%** |  |  |  |  |
| Entegris, Inc.144A | 4.38 | &nbsp;&nbsp; 4-15-2028 | 4700000 | &nbsp;&nbsp; **4659818** |
| **Packaging & containers: 1.23%** |  |  |  |  |
| Berry Global, Inc.144A | 4.88 | &nbsp;&nbsp; 7-15-2026 | 1750000 | &nbsp;&nbsp; 1750324 |
| Clydesdale Acquisition Holdings, Inc.144A | 6.63 | &nbsp;&nbsp; 4-15-2029 | 13480000 | &nbsp;&nbsp; 13619181 |
| Clydesdale Acquisition Holdings, Inc.144A | 6.88 | &nbsp;&nbsp; 1-15-2030 | 5625000 | &nbsp;&nbsp; 5711231 |
| Owens-Brockway Glass Container, Inc.144A | 6.63 | &nbsp;&nbsp; 5-13-2027 | 9965000 | &nbsp;&nbsp; 9972115 |
|  |  |  |  | &nbsp;&nbsp; **31052851** |
| **Trucking & leasing: 1.40%** |  |  |  |  |
| FTAI Aviation Investors LLC144A | 5.50 | &nbsp;&nbsp; 5-1-2028 | 29355000 | &nbsp;&nbsp; 29351933 |
| FTAI Aviation Investors LLC144A | 7.88 | &nbsp;&nbsp; 12-1-2030 | 5590000 | &nbsp;&nbsp; 5914941 |
|  |  |  |  | &nbsp;&nbsp; **35266874** |
| **Technology: 2.59%** |  |  |  |  |
| **Semiconductors: 0.03%** |  |  |  |  |
| ON Semiconductor Corp.144A | 3.88 | &nbsp;&nbsp; 9-1-2028 | 795000 | &nbsp;&nbsp; **778232** |
| **Software: 2.56%** |  |  |  |  |
| Cloud Software Group, Inc.144A | 6.50 | &nbsp;&nbsp; 3-31-2029 | 32035000 | &nbsp;&nbsp; 31415988 |
| Rocket Software, Inc.144A | 9.00 | &nbsp;&nbsp; 11-28-2028 | 5390000 | &nbsp;&nbsp; 5255301 |
| SS&C Technologies, Inc.144A | 5.50 | &nbsp;&nbsp; 9-30-2027 | 27700000 | &nbsp;&nbsp; 27658342 |
|  |  |  |  | &nbsp;&nbsp; **64329631** |
| **Utilities: 3.55%** |  |  |  |  |
| **Electric: 3.55%** |  |  |  |  |
| &nbsp;&nbsp; Pattern Energy Operations LP/Pattern Energy Operations, <br> Inc.144A<br>| 4.50 | &nbsp;&nbsp; 8-15-2028 | 17588000 | &nbsp;&nbsp; 17384234 |
| PG&E Corp. | 5.00 | &nbsp;&nbsp; 7-1-2028 | 9950000 | &nbsp;&nbsp; 9923698 |
| Vistra Corp. (5 Year Treasury Constant Maturity+5.74%)144Aʊ± | 7.00 | &nbsp;&nbsp; 12-15-2026 | 5350000 | &nbsp;&nbsp; 5414056 |

---

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

Allspring Short-Term High Income Fund \| 7

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Electric**(continued) |  |  |  |  |
| &nbsp;&nbsp; Vistra Corp. Series C (5 Year Treasury Constant <br> Maturity+5.05%)144Aʊ±<br>| 8.88<br> %<br>| &nbsp;&nbsp; 1-15-2029 | $2405000 | &nbsp;&nbsp; $2649035 |
| Vistra Operations Co. LLC144A | 5.00 | &nbsp;&nbsp; 7-31-2027 | 5280000 | &nbsp;&nbsp; 5272386 |
| Vistra Operations Co. LLC144A | 5.63 | &nbsp;&nbsp; 2-15-2027 | 23400000 | &nbsp;&nbsp; 23391873 |
| XPLR Infrastructure Operating Partners LP144A | 4.50 | &nbsp;&nbsp; 9-15-2027 | 25280000 | &nbsp;&nbsp; 25171850 |
|  |  |  |  | &nbsp;&nbsp; **89207132** |
| **Total corporate bonds and notes (Cost $1,907,668,457)** |  |  |  | &nbsp;&nbsp; **1929199343** |

---

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

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Investment companies: 1.72%** |  |  |
| **Exchange-traded funds: 1.72%** |  |  |
| iShares 0-5 Year High Yield Corporate Bond ETF | 497861 | &nbsp;&nbsp; 21288536 |
| State Street SPDR Bloomberg Short Term High Yield Bond ETF | 868026 | &nbsp;&nbsp; 21917657 |
| **Total investment companies (Cost $42,949,939)** |  | &nbsp;&nbsp; **43206193** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  |  | Principal |  |
| **Loans: 2.46%** |  |  |  |  |
| **Communications: 0.32%** |  |  |  |  |
| **Internet: 0.18%** |  |  |  |  |
| Cablevision Lightpath LLC (U.S. SOFR 1 Month+3.00%)± | 6.66 | &nbsp;&nbsp; 11-30-2027 | $4510827 | &nbsp;&nbsp; **4504241** |
| **Media: 0.14%** |  |  |  |  |
| DIRECTV Financing LLC (U.S. SOFR 3 Month+5.00%)± | 8.93 | &nbsp;&nbsp; 8-2-2027 | 381753 | &nbsp;&nbsp; 381753 |
| DIRECTV Financing LLC (U.S. SOFR 3 Month+5.25%)± | 9.18 | &nbsp;&nbsp; 8-2-2029 | 3221429 | &nbsp;&nbsp; 3220430 |
|  |  |  |  | &nbsp;&nbsp; **3602183** |
| **Consumer, cyclical: 0.52%** |  |  |  |  |
| **Airlines: 0.30%** |  |  |  |  |
| Vista Management Holding, Inc. (U.S. SOFR 3 Month+3.75%)± | 7.41 | &nbsp;&nbsp; 4-1-2031 | 7543800 | &nbsp;&nbsp; **7548553** |
| **Auto parts & equipment: 0.22%** |  |  |  |  |
| Clarios Global LP (U.S. SOFR 1 Month+2.75%)± | 6.42 | &nbsp;&nbsp; 1-28-2032 | 5561062 | &nbsp;&nbsp; **5542544** |
| **Consumer, non-cyclical: 0.04%** |  |  |  |  |
| **Healthcare-products: 0.04%** |  |  |  |  |
| Bausch & Lomb Corp. (U.S. SOFR 1 Month+3.75%)± | 7.42 | &nbsp;&nbsp; 1-15-2031 | 915400 | &nbsp;&nbsp; **914942** |
| **Energy: 0.25%** |  |  |  |  |
| **Pipelines: 0.25%** |  |  |  |  |
| Prairie Acquiror LP (U.S. SOFR 1 Month+3.25%)± | 6.92 | &nbsp;&nbsp; 8-1-2029 | 6229683 | &nbsp;&nbsp; **6231240** |
| **Financial: 0.05%** |  |  |  |  |
| **Insurance: 0.05%** |  |  |  |  |
| Asurion LLC (U.S. SOFR 1 Month+4.25%)± | 8.02 | &nbsp;&nbsp; 8-19-2028 | 1167161 | &nbsp;&nbsp; **1166064** |
| **Industrial: 1.03%** |  |  |  |  |
| **Building materials: 0.63%** |  |  |  |  |
| Quikrete Holdings, Inc. (U.S. SOFR 1 Month+2.25%)± | 5.92 | &nbsp;&nbsp; 3-19-2029 | 15944278 | &nbsp;&nbsp; **15935987** |

---

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

8 \| Allspring Short-Term High Income Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Machinery-diversified: 0.40%** |  |  |  |  |
| TK Elevator U.S. Newco, Inc. (U.S. SOFR 6 Month+2.75%)± | 6.38<br> %<br>| &nbsp;&nbsp; 4-30-2030 | $9925187 | &nbsp;&nbsp; **$9920721** |
| **Technology: 0.25%** |  |  |  |  |
| **Computers: 0.05%** |  |  |  |  |
| McAfee Corp. (U.S. SOFR 1 Month+3.00%)± | 6.67 | &nbsp;&nbsp; 3-1-2029 | 1652481 | &nbsp;&nbsp; **1433527** |
| **Software: 0.20%** |  |  |  |  |
| Rocket Software, Inc. (U.S. SOFR 1 Month+3.75%)± | 7.42 | &nbsp;&nbsp; 11-28-2028 | 5355034 | &nbsp;&nbsp; **4969043** |
| **Total loans (Cost $62,431,094)** |  |  |  | &nbsp;&nbsp; **61769045** |
| **Non-agency mortgage-backed securities: 0.23%** |  |  |  |  |
| &nbsp;&nbsp; GS Mortgage-Backed Securities Trust Series 2024-HE1 Class A1 <br> (30 Day Average U.S. SOFR+1.60%)144A±<br>| 5.27 | &nbsp;&nbsp; 8-25-2054 | 5847818 | &nbsp;&nbsp; 5871185 |
| **Total non-agency mortgage-backed securities (Cost $5,847,817)** |  |  |  | &nbsp;&nbsp; **5871185** |
| **Yankee corporate bonds and notes: 11.13%** |  |  |  |  |
| **Basic materials: 0.31%** |  |  |  |  |
| **Mining: 0.31%** |  |  |  |  |
| Alumina Pty. Ltd.144A | 6.13 | &nbsp;&nbsp; 3-15-2030 | 7590000 | &nbsp;&nbsp; **7866982** |
| **Communications: 0.89%** |  |  |  |  |
| **Internet: 0.89%** |  |  |  |  |
| Rakuten Group, Inc.144A | 11.25 | &nbsp;&nbsp; 2-15-2027 | 21325000 | &nbsp;&nbsp; **22455451** |
| **Consumer, cyclical: 4.42%** |  |  |  |  |
| **Airlines: 2.02%** |  |  |  |  |
| Air Canada Pass-Through Trust Series 2020-1 Class C144A | 10.50 | &nbsp;&nbsp; 7-15-2026 | 22234000 | &nbsp;&nbsp; 22698971 |
| Latam Airlines Group SA144A | 7.63 | &nbsp;&nbsp; 1-7-2031 | 13840000 | &nbsp;&nbsp; 14493248 |
| Latam Airlines Group SA144A | 7.88 | &nbsp;&nbsp; 4-15-2030 | 9555000 | &nbsp;&nbsp; 9960610 |
| VistaJet Malta Finance PLC/Vista Management Holding, Inc.144A | 7.88 | &nbsp;&nbsp; 5-1-2027 | 3588000 | &nbsp;&nbsp; 3596808 |
|  |  |  |  | &nbsp;&nbsp; **50749637** |
| **Auto manufacturers: 0.25%** |  |  |  |  |
| Nissan Motor Co. Ltd.144A | 4.35 | &nbsp;&nbsp; 9-17-2027 | 6350000 | &nbsp;&nbsp; **6302802** |
| **Auto parts & equipment: 0.47%** |  |  |  |  |
| Forvia SE144A | 8.00 | &nbsp;&nbsp; 6-15-2030 | 11035000 | &nbsp;&nbsp; **11759746** |
| **Leisure time: 1.68%** |  |  |  |  |
| Carnival Corp.144A | 5.13 | &nbsp;&nbsp; 5-1-2029 | 10920000 | &nbsp;&nbsp; 11076713 |
| Royal Caribbean Cruises Ltd.144A | 5.38 | &nbsp;&nbsp; 7-15-2027 | 30910000 | &nbsp;&nbsp; 31145800 |
|  |  |  |  | &nbsp;&nbsp; **42222513** |
| **Consumer, non-cyclical: 0.86%** |  |  |  |  |
| **Healthcare-products: 0.86%** |  |  |  |  |
| Bausch & Lomb Corp.144A | 8.38 | &nbsp;&nbsp; 10-1-2028 | 20903000 | &nbsp;&nbsp; **21660734** |

---

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

Allspring Short-Term High Income Fund \| 9

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Energy: 0.48%** |  |  |  |  |
| **Oil & gas: 0.13%** |  |  |  |  |
| Borr IHC Ltd./Borr Finance LLC144A | 10.00<br> %<br>| &nbsp;&nbsp; 11-15-2028 | $3124390 | &nbsp;&nbsp; **$3254263** |
| **Pipelines: 0.35%** |  |  |  |  |
| Enbridge, Inc. (5 Year Treasury Constant Maturity+3.71%)± | 7.38 | &nbsp;&nbsp; 1-15-2083 | 8422000 | &nbsp;&nbsp; **8716543** |
| **Financial: 1.83%** |  |  |  |  |
| **Banks: 0.39%** |  |  |  |  |
| &nbsp;&nbsp; Banco Mercantil del Norte SA (5 Year Treasury Constant <br> Maturity+4.64%)144Aʊ±<br>| 5.88 | &nbsp;&nbsp; 1-24-2027 | 9880000 | &nbsp;&nbsp; **9867894** |
| **Diversified financial services: 1.44%** |  |  |  |  |
| Global Aircraft Leasing Co. Ltd.144A | 8.75 | &nbsp;&nbsp; 9-1-2027 | 20845000 | &nbsp;&nbsp; 21486025 |
| goeasy Ltd.144A | 9.25 | &nbsp;&nbsp; 12-1-2028 | 12040000 | &nbsp;&nbsp; 11912150 |
| Macquarie AirFinance Holdings Ltd.144A | 6.40 | &nbsp;&nbsp; 3-26-2029 | 2650000 | &nbsp;&nbsp; 2794543 |
|  |  |  |  | &nbsp;&nbsp; **36192718** |
| **Industrial: 0.32%** |  |  |  |  |
| **Packaging & containers: 0.32%** |  |  |  |  |
| Trivium Packaging Finance BV144A | 8.25 | &nbsp;&nbsp; 7-15-2030 | 7603000 | &nbsp;&nbsp; **8145132** |
| **Technology: 0.76%** |  |  |  |  |
| **Computers: 0.40%** |  |  |  |  |
| Seagate Data Storage Technology Pte. Ltd.144A | 8.25 | &nbsp;&nbsp; 12-15-2029 | 9615000 | &nbsp;&nbsp; **10145354** |
| **Software: 0.36%** |  |  |  |  |
| Open Text Corp.144A | 3.88 | &nbsp;&nbsp; 2-15-2028 | 7390000 | &nbsp;&nbsp; 7044462 |
| Open Text Corp.144A | 6.90 | &nbsp;&nbsp; 12-1-2027 | 1800000 | &nbsp;&nbsp; 1847189 |
|  |  |  |  | &nbsp;&nbsp; **8891651** |
| **Utilities: 1.26%** |  |  |  |  |
| **Electric: 1.26%** |  |  |  |  |
| &nbsp;&nbsp; Algonquin Power & Utilities Corp. (5 Year Treasury Constant <br> Maturity+3.25%)±<br>| 4.75 | &nbsp;&nbsp; 1-18-2082 | 3035000 | &nbsp;&nbsp; 3010021 |
| Emera, Inc. Series 16-A (U.S. SOFR 3 Month+5.44%)± | 6.75 | &nbsp;&nbsp; 6-15-2076 | 28595000 | &nbsp;&nbsp; 28738175 |
|  |  |  |  | &nbsp;&nbsp; **31748196** |
| **Total yankee corporate bonds and notes (Cost $276,830,679)** |  |  |  | &nbsp;&nbsp; **279979616** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | Yield | Shares |  |
| **Short-term investments: 4.81%** |  |  |  |  |
| **Investment companies: 4.81%** |  |  |  |  |
| Allspring Government Money Market Fund Select Class♠∞ |  | 3.62 | 121070168 | &nbsp;&nbsp; **121070168** |
| **Total short-term investments (Cost $121,070,168)** |  |  |  | &nbsp;&nbsp; **121070168** |
| **Total investments in securities (Cost $2,456,383,252)** | 98.65<br> %<br>|  |  | &nbsp;&nbsp; 2480739964 |
| Other assets and liabilities, net | 1.35 |  |  | &nbsp;&nbsp; 33897511 |
| **Total net assets** | **100.00%**<br>|  |  | &nbsp;&nbsp; **$2514637475** |

---

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

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

10 \| Allspring Short-Term High Income Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | |
|:---|:---|
| 144A | The security may be resold in transactions exempt from registration, normally to qualified institutional buyers, pursuant to Rule 144A under the Securities Act of <br> 1933.<br>|
| ± | Variable rate investment. The rate shown is the rate in effect at period end. |
| ʊ | Security is perpetual in nature and has no stated maturity date. The date shown reflects the next call date. |
| ♠ | The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
| ∞ | The rate represents the 7-day annualized yield at period end. |

---

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

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| CLO | Collateralized loan obligation |
| REIT | Real estate investment trust |
| SOFR | Secured Overnight Financing Rate |

---

**Investments in affiliates**

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| Allspring Government Money Market Fund <br> Select Class<br>| $113121610 | $616485745 | $(608537187)<br>| $0 | $0 | $121070168 | 121070168 | $1850996 |

---

**Futures contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Number of <br>contracts<br>| Expiration <br>date<br>| Notional <br>cost<br>| Notional <br>value<br>| Unrealized <br>gains<br>| Unrealized <br>losses<br>|
| **Long** |  |  |  |  |  |  |
| 2-Year U.S. Treasury Notes | &nbsp;&nbsp; 1287 | &nbsp;&nbsp; 6-30-2026 | &nbsp;&nbsp; $269065497 | &nbsp;&nbsp; $269334915 | &nbsp;&nbsp; $269418 | &nbsp;&nbsp; $0 |
| **Short** |  |  |  |  |  |  |
| 5-Year U.S. Treasury Notes | &nbsp;&nbsp; (1320)<br>| &nbsp;&nbsp; 6-30-2026 | &nbsp;&nbsp; (144888488)<br>| &nbsp;&nbsp; (145385625)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (497137)<br>|
|  |  |  |  |  | &nbsp;&nbsp; **$269418** | &nbsp;&nbsp; **$(497137)**<br>|

---

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

Allspring Short-Term High Income Fund \| 11

------

Statement of assets and liabilities—February 28, 2026 (unaudited)

Financial statements

Statement of assets and liabilities

---

| | |
|:---|:---|
| Assets |  |
| Investments in unaffiliated securities, at value (cost $2,335,313,084) | $2359669796 |
| Investments in affiliated securities, at value (cost $121,070,168) | 121070168 |
| Cash | 10173295 |
| Cash at broker segregated for futures contracts | 2600000 |
| Receivable for interest | 37707315 |
| Receivable for Fund shares sold | 3109713 |
| Receivable for investments sold | 1193262 |
| Receivable for daily variation margin on open futures contracts | 361969 |
| Prepaid expenses and other assets | 154843 |
| **Total assets** | **2536040361** |
| Liabilities |  |
| Payable for investments purchased | 12619219 |
| Payable for Fund shares redeemed | 6837150 |
| Management fee payable | 789530 |
| Dividends payable | 472026 |
| Payable for daily variation margin on open futures contracts | 422812 |
| Administration fees payable | 170307 |
| Shareholder servicing fees payable | 39481 |
| Distribution fee payable | 19019 |
| Accrued expenses and other liabilities | 33342 |
| **Total liabilities** | **21402886** |
| **Total net assets**  | **$2514637475** |
| Net assets consist of |  |
| Paid-in capital | $2579625638 |
| Total distributable loss | (64988163)<br>|
| **Total net assets** | **$2514637475** |
| Computation of net asset value and offering price per share |  |
| Net assets–Class A | $169632816 |
| Shares outstanding–Class A<sup>1</sup> <br>| 21489344 |
| Net asset value per share–Class A | $7.89 |
| Maximum offering price per share – Class A<sup>2</sup> <br>| $8.13 |
| Net assets–Class C | $31886740 |
| Shares outstanding–Class C<sup>1</sup> <br>| 4038045 |
| Net asset value per share–Class C | $7.90 |
| Net assets–Institutional Class | $2313117919 |
| Shares outstanding–Institutional Class<sup>1</sup> <br>| 293462440 |
| Net asset value per share–Institutional Class | $7.88 |

---

<sup>1</sup> The Fund has an unlimited number of authorized shares.

<sup>2</sup> Maximum offering price is computed as 100/97 of net asset value. On investments of $50,000 or more, the offering price is reduced.

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

12 \| Allspring Short-Term High Income Fund

------

Statement of operations—six months ended February 28, 2026 (unaudited)

Statement of operations

---

| | |
|:---|:---|
| Investment income |  |
| Interest | $74714476 |
| Income from affiliated securities | 1850996 |
| Dividends | 1114745 |
| **Total investment income** | **77680217** |
| Expenses |  |
| Management fee | 5788490 |
| Administration fees |  |
| Class A | 123376 |
| Class C | 22351 |
| Administrator Class | 931 <br><sup>1</sup><br>|
| Institutional Class | 917482 |
| Shareholder servicing fees |  |
| Class A | 205627 |
| Class C | 37251 |
| Administrator Class | 2324 <br><sup>1</sup><br>|
| Distribution fee |  |
| Class C | 111754 |
| Custody and accounting fees | 46227 |
| Professional fees | 35228 |
| Registration fees | 95792 |
| Shareholder report expenses | 49457 |
| Trustees' fees and expenses | 11234 |
| Other fees and expenses | 27937 |
| **Total expenses** | **7475461** |
| Less: Fee waivers and/or expense reimbursements |  |
| Fund-level | (830455)<br>|
| Class A | (7887)<br>|
| Class C | (941)<br>|
| **Net expenses** | **6636178** |
| **Net investment income** | **71044039** |
| Realized and unrealized gains (losses) on investments |  |
| Net realized gains (losses) on |  |
| Unaffiliated securities | 3853197 |
| Futures contracts | (485954)<br>|
| **Net realized gains on investments**  | **3367243** |
| Net change in unrealized gains (losses) on |  |
| Unaffiliated securities | (6934120)<br>|
| Futures contracts | (545455)<br>|
| **Net change in unrealized gains (losses) on investments** | **(7479575)**<br>|
| **Net realized and unrealized gains (losses) on investments** | **(4112332)**<br>|
| **Net increase in net assets resulting from operations** | **$66931707** |

---

<sup>1</sup> For the period from September 1, 2025 to September 12, 2025. Effective at the close of business on September 12, 2025, Administrator Class shares were converted to Institutional Class shares and are no longer offered by the Fund.

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

Allspring Short-Term High Income Fund \| 13

------

Statement of changes in net assets

Statement of changes in net assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six months ended<br> February 28, 2026<br> (unaudited) | Six months ended<br> February 28, 2026<br> (unaudited) | Year ended<br> August 31, 2025 | Year ended<br> August 31, 2025 |
| Operations |  |  |  |  |
| Net investment income |  | &nbsp;&nbsp; $71044039 |  | &nbsp;&nbsp; $127296383 |
| Net realized gains (losses) on investments |  | &nbsp;&nbsp; 3367243 |  | &nbsp;&nbsp; (3474759)<br>|
| Net change in unrealized gains (losses) on investments |  | &nbsp;&nbsp; (7479575)<br>|  | &nbsp;&nbsp; 2170985 |
| **Net increase in net assets resulting from operations** |  | &nbsp;&nbsp; **66931707** |  | &nbsp;&nbsp; **125992609** |
| Distributions to shareholders from |  |  |  |  |
| Net investment income and net realized gains |  |  |  |  |
| Class A |  | &nbsp;&nbsp; (4532716)<br>|  | &nbsp;&nbsp; (8312319)<br>|
| Class C |  | &nbsp;&nbsp; (709239)<br>|  | &nbsp;&nbsp; (1243276)<br>|
| Administrator Class |  | &nbsp;&nbsp; (54901 )<sup>1</sup><br>|  | &nbsp;&nbsp; (1706724)<br>|
| Institutional Class |  | &nbsp;&nbsp; (66663868)<br>|  | &nbsp;&nbsp; (116294631)<br>|
| **Total distributions to shareholders** |  | &nbsp;&nbsp; **(71960724)**<br>|  | &nbsp;&nbsp; **(127556950)**<br>|
| Capital share transactions | Shares |  | &nbsp;&nbsp; Shares |  |
| Proceeds from shares sold |  |  |  |  |
| Class A | 2373940 | &nbsp;&nbsp; 18777055 | &nbsp;&nbsp; 9342691 | &nbsp;&nbsp; 73680187 |
| Class C | 858534 | &nbsp;&nbsp; 6793421 | &nbsp;&nbsp; 1373287 | &nbsp;&nbsp; 10825808 |
| Administrator Class | 15138 <br><sup>1</sup><br>| &nbsp;&nbsp; 119891 <br><sup>1</sup><br>| &nbsp;&nbsp; 453331 | &nbsp;&nbsp; 3566813 |
| Institutional Class | 67420607 | &nbsp;&nbsp; 532533399 | &nbsp;&nbsp; 144442963 | &nbsp;&nbsp; 1136393754 |
|  |  | &nbsp;&nbsp; 558223766 |  | &nbsp;&nbsp; 1224466562 |
| Reinvestment of distributions |  |  |  |  |
| Class A | 567820 | &nbsp;&nbsp; 4489583 | &nbsp;&nbsp; 1038124 | &nbsp;&nbsp; 8182262 |
| Class C | 89568 | &nbsp;&nbsp; 708480 | &nbsp;&nbsp; 157075 | &nbsp;&nbsp; 1235256 |
| Administrator Class | 0 <br><sup>1</sup><br>| &nbsp;&nbsp; 0 <br><sup>1</sup><br>| &nbsp;&nbsp; 214676 | &nbsp;&nbsp; 1692232 |
| Institutional Class | 8391434 | &nbsp;&nbsp; 66265198 | &nbsp;&nbsp; 14607112 | &nbsp;&nbsp; 114977213 |
|  |  | &nbsp;&nbsp; 71463261 |  | &nbsp;&nbsp; 126086963 |
| Payment for shares redeemed |  |  |  |  |
| Class A | (2207016)<br>| &nbsp;&nbsp; (17459147)<br>| &nbsp;&nbsp; (5535567)<br>| &nbsp;&nbsp; (43545965)<br>|
| Class C | (451729)<br>| &nbsp;&nbsp; (3575209)<br>| &nbsp;&nbsp; (962452)<br>| &nbsp;&nbsp; (7585180)<br>|
| Administrator Class | (10668 )<sup>1</sup><br>| &nbsp;&nbsp; (84378 )<sup>1</sup><br>| &nbsp;&nbsp; (1532520)<br>| &nbsp;&nbsp; (12076284)<br>|
| Institutional Class | (71886407)<br>| &nbsp;&nbsp; (567911772)<br>| &nbsp;&nbsp; (94963737)<br>| &nbsp;&nbsp; (745699129)<br>|
|  |  | &nbsp;&nbsp; (589030506)<br>|  | &nbsp;&nbsp; (808906558)<br>|
| Share conversions |  |  |  |  |
| Administrator Class | (3308677 )<sup>2</sup><br>| &nbsp;&nbsp; (26208696 )<sup>2</sup><br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| Institutional Class | 3312860 | &nbsp;&nbsp; 26208696 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp; 0 |  | &nbsp;&nbsp; 0 |
| **Net increase in net assets resulting from capital share transactions** |  | &nbsp;&nbsp; **40656521** |  | &nbsp;&nbsp; **541646967** |
| **Total increase in net assets** |  | &nbsp;&nbsp; **35627504** |  | &nbsp;&nbsp; **540082626** |
| Net assets |  |  |  |  |
| **Beginning of period** |  | &nbsp;&nbsp; **2479009971** |  | &nbsp;&nbsp; **1938927345** |
| **End of period** |  | &nbsp;&nbsp; **$2514637475** |  | &nbsp;&nbsp; **$2479009971** |

---

<sup>1</sup> For the period from September 1, 2025 to September 12, 2025

<sup>2</sup> Effective at the close of business on September 12, 2025, Administrator Class shares were converted to Institutional Class shares and are no longer offered by the Fund.

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

14 \| Allspring Short-Term High Income Fund

------

Financial highlights

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Class A | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$7.91** | &nbsp;&nbsp; **$7.92** | &nbsp;&nbsp; **$7.80** | &nbsp;&nbsp; **$7.72** | &nbsp;&nbsp; **$8.25** | &nbsp;&nbsp; **$8.09** |
| Net investment income | 0.21 <br><sup>1</sup><br>| 0.45 <br><sup>1</sup><br>| 0.45 <br><sup>1</sup><br>| 0.40 | 0.29 | 0.28 |
| Net realized and unrealized gains (losses) on investments | (0.01)<br>| &nbsp;&nbsp; (0.01)<br>| 0.13 | 0.08 | &nbsp;&nbsp; (0.51)<br>| 0.18 |
| Total from investment operations | 0.20 | 0.44 | 0.58 | 0.48 | &nbsp;&nbsp; (0.22)<br>| 0.46 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.22)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (0.46)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.31)<br>| &nbsp;&nbsp; (0.30)<br>|
| **Net asset value, end of period** | **$7.89** | &nbsp;&nbsp; **$7.91** | &nbsp;&nbsp; **$7.92** | &nbsp;&nbsp; **$7.80** | &nbsp;&nbsp; **$7.72** | &nbsp;&nbsp; **$8.25** |
| **Total return**<sup>2</sup> <br>| **2.50%**<br>| **5.74%**<br>| **7.67%**<br>| **6.33%**<br>| &nbsp;&nbsp; **(2.73)%**<br>| **5.73%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.88<br> %<br>| 0.89<br> %<br>| 0.89<br> %<br>| 0.90<br> %<br>| 0.92<br> %<br>| 0.93<br> %<br>|
| Net expenses | 0.80<br> %<br>| 0.80<br> %<br>| 0.81<br> %<br>| 0.81<br> %<br>| 0.81<br> %<br>| 0.80<br> %<br>|
| Net investment income | 5.41<br> %<br>| 5.74<br> %<br>| 5.80<br> %<br>| 5.08<br> %<br>| 3.65<br> %<br>| 3.46<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 24<br> %<br>| &nbsp;&nbsp; 40<br> %<br>| &nbsp;&nbsp; 47<br> %<br>| &nbsp;&nbsp; 27<br> %<br>| &nbsp;&nbsp; 43<br> %<br>| &nbsp;&nbsp; 63<br> %<br>|
| Net assets, end of period (000s omitted) | $169633 | &nbsp;&nbsp; $164166 | &nbsp;&nbsp; $125978 | &nbsp;&nbsp; $112193 | &nbsp;&nbsp; $99828 | &nbsp;&nbsp; $123375 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding

<sup>2</sup> Total return calculations do not include any sales charges. Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. 

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

Allspring Short-Term High Income Fund \| 15

------

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Class C | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$7.91** | &nbsp;&nbsp; **$7.92** | &nbsp;&nbsp; **$7.81** | &nbsp;&nbsp; **$7.72** | &nbsp;&nbsp; **$8.26** | &nbsp;&nbsp; **$8.09** |
| Net investment income | 0.18 <br><sup>1</sup><br>| 0.39 <br><sup>1</sup><br>| 0.39 <br><sup>1</sup><br>| 0.33 | 0.24 | 0.24 |
| Net realized and unrealized gains (losses) on investments | (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.01)<br>| 0.12 | 0.10 | &nbsp;&nbsp; (0.53)<br>| 0.17 |
| Total from investment operations | 0.18 | 0.38 | 0.51 | 0.43 | &nbsp;&nbsp; (0.29)<br>| 0.41 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.19)<br>| &nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.34)<br>| &nbsp;&nbsp; (0.25)<br>| &nbsp;&nbsp; (0.24)<br>|
| **Net asset value, end of period** | **$7.90** | &nbsp;&nbsp; **$7.91** | &nbsp;&nbsp; **$7.92** | &nbsp;&nbsp; **$7.81** | &nbsp;&nbsp; **$7.72** | &nbsp;&nbsp; **$8.26** |
| **Total return**<sup>3</sup> <br>| **2.25%**<br>| **4.94%**<br>| **6.74%**<br>| **5.67%**<br>| &nbsp;&nbsp; **(3.58)%**<br>| **5.06%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 1.63<br> %<br>| 1.65<br> %<br>| 1.64<br> %<br>| 1.65<br> %<br>| 1.67<br> %<br>| 1.68<br> %<br>|
| Net expenses | 1.55<br> %<br>| 1.56<br> %<br>| 1.56<br> %<br>| 1.56<br> %<br>| 1.56<br> %<br>| 1.56<br> %<br>|
| Net investment income | 4.66<br> %<br>| 4.98<br> %<br>| 5.05<br> %<br>| 4.33<br> %<br>| 2.88<br> %<br>| 2.73<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 24<br> %<br>| &nbsp;&nbsp; 40<br> %<br>| &nbsp;&nbsp; 47<br> %<br>| &nbsp;&nbsp; 27<br> %<br>| &nbsp;&nbsp; 43<br> %<br>| &nbsp;&nbsp; 63<br> %<br>|
| Net assets, end of period (000s omitted) | $31887 | &nbsp;&nbsp; $28024 | &nbsp;&nbsp; $23555 | &nbsp;&nbsp; $22345 | &nbsp;&nbsp; $19567 | &nbsp;&nbsp; $29136 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding

<sup>2</sup> Amount is more than $(0.005).

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

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

16 \| Allspring Short-Term High Income Fund

------

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Institutional Class | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$7.90** | &nbsp;&nbsp; **$7.91** | &nbsp;&nbsp; **$7.79** | &nbsp;&nbsp; **$7.71** | &nbsp;&nbsp; **$8.24** | &nbsp;&nbsp; **$8.08** |
| Net investment income | 0.22 <br><sup>1</sup><br>| 0.47 <br><sup>1</sup><br>| 0.48 <br><sup>1</sup><br>| 0.41 | 0.32 | 0.31 <br><sup>1</sup><br>|
| Net realized and unrealized gains (losses) on investments | (0.01)<br>| &nbsp;&nbsp; (0.01)<br>| 0.13 | 0.09 | &nbsp;&nbsp; (0.52)<br>| 0.17 |
| Total from investment operations | 0.21 | 0.46 | 0.61 | 0.50 | &nbsp;&nbsp; (0.20)<br>| 0.48 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.23)<br>| &nbsp;&nbsp; (0.47)<br>| &nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (0.32)<br>|
| **Net asset value, end of period** | **$7.88** | &nbsp;&nbsp; **$7.90** | &nbsp;&nbsp; **$7.91** | &nbsp;&nbsp; **$7.79** | &nbsp;&nbsp; **$7.71** | &nbsp;&nbsp; **$8.24** |
| **Total return**<sup>2</sup> <br>| **2.66%**<br>| **6.05%**<br>| **8.01%**<br>| **6.66%**<br>| &nbsp;&nbsp; **(2.44)%**<br>| **6.06%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.56<br> %<br>| 0.57<br> %<br>| 0.57<br> %<br>| 0.57<br> %<br>| 0.59<br> %<br>| 0.60<br> %<br>|
| Net expenses | 0.50<br> %<br>| 0.50<br> %<br>| 0.50<br> %<br>| 0.50<br> %<br>| 0.50<br> %<br>| 0.50<br> %<br>|
| Net investment income | 5.71<br> %<br>| 6.04<br> %<br>| 6.11<br> %<br>| 5.42<br> %<br>| 3.99<br> %<br>| 3.78<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 24<br> %<br>| &nbsp;&nbsp; 40<br> %<br>| &nbsp;&nbsp; 47<br> %<br>| &nbsp;&nbsp; 27<br> %<br>| &nbsp;&nbsp; 43<br> %<br>| &nbsp;&nbsp; 63<br> %<br>|
| Net assets, end of period (000s omitted) | $2313118 | &nbsp;&nbsp; $2260689 | &nbsp;&nbsp; $1756390 | &nbsp;&nbsp; $1510599 | &nbsp;&nbsp; $984201 | &nbsp;&nbsp; $823568 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding <br> <sup>2</sup> Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized.

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

Allspring Short-Term High Income Fund \| 17

------

Notes to financial statements (unaudited)

Notes to financial statements

1. ORGANIZATION

Allspring Funds Trust (the "Trust"), a Delaware statutory trust organized on March 10, 1999, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act"). As an investment company, the Trust follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services* – *Investment Companies*. These financial statements report on the Allspring Short-Term High Income Fund (the "Fund") which is a diversified series of the Trust.

Effective at the close of business on September 12, 2025, Administrator Class shares became Institutional Class shares in a tax-free conversion. Shareholders of Administrator Class received Institutional Class shares at a value equal to the value of their Administrator Class shares immediately prior to the conversion. Administrator Class shares are no longer offered by the Fund.

2. SIGNIFICANT ACCOUNTING POLICIES

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

Securities valuation

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

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

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

Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.

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

Loans

The Fund may invest in direct debt instruments which are interests in amounts owed to lenders by corporate or other borrowers. The loans pay interest at rates which are periodically reset by reference to a base lending rate plus a spread. Investments in loans may be in the form of participations in loans or assignments of all or a portion of loans from third parties. When the Fund purchases participations, it generally has no rights to enforce compliance with the terms of the loan agreement with the borrower. As a result, the Fund assumes the credit risk of both the borrower and the lender that is selling the participation. When the Fund purchases assignments from lenders, it acquires direct rights against the borrower on the loan and may enforce compliance by the borrower with the terms of the loan agreement. Loans may include fully funded term loans or unfunded loan commitments, which are contractual obligations for future funding. Unfunded loan commitments represent the remaining obligation of the Fund to the borrower. At any point in time, up to the maturity date of the issue, the borrower may demand the unfunded portion. Unfunded amounts, if any, are marked to market and any unrealized gains or losses are recorded in the Statement of assets and liabilities.

Futures contracts

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

Upon entering into a futures contract, the Fund is required to deposit either cash or securities (initial margin) with the broker in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are paid to or received from the broker each day equal to the daily

18 \| Allspring Short-Term High Income Fund

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Notes to financial statements (unaudited)

changes in the contract value. Such payments are recorded as unrealized gains or losses and, if any, shown as variation margin receivable (payable) in the Statement of assets and liabilities. Should the Fund fail to make requested variation margin payments, the broker can gain access to the initial margin to satisfy the Fund's payment obligations. When the contracts are closed, a realized gain or loss is recorded in the Statement of operations.

Security transactions and income recognition

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

Interest income is accrued daily and bond discounts are accreted and premiums are amortized daily. To the extent debt obligations are placed on non-accrual status, any related interest income may be reduced by writing off interest receivables when the collection of all or a portion of interest has been determined to be doubtful based on consistently applied procedures and the fair value has decreased. If the issuer subsequently resumes interest payments or when the collectability of interest is reasonably assured, the debt obligation is removed from non-accrual status. Paydown gains and losses are included in interest income.

Income is recorded net of foreign taxes withheld where recovery of such taxes is not assured.

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

Income dividends and capital gain distributions from investment companies are recorded on the ex-dividend date. Capital gain distributions from investment companies are treated as realized gains.

Distributions to shareholders

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

Federal and other taxes

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

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

As of February 28, 2026, the aggregate cost of all investments for federal income tax purposes was $2,457,590,511 and the unrealized gains (losses) consisted of:

---

| | |
|:---|:---|
| Gross unrealized gains | &nbsp;&nbsp; $30707973 |
| Gross unrealized losses | &nbsp;&nbsp; (7786239)<br>|
| **Net unrealized gains** | &nbsp;&nbsp; **$22921734** |

---

As of August 31, 2025, the Fund had capital loss carryforwards which consisted of $23,103,290 in short-term capital losses and $67,332,928 in long-term capital losses.

Class allocations

The separate classes of shares offered by the Fund differ principally in applicable sales charges, distribution, shareholder servicing, and administration fees. Class specific expenses are charged directly to that share class. Investment income, common fund-level expenses, and realized and unrealized gains (losses) on investments are allocated daily to each class of shares based on the relative proportion of net assets of each class.&nbsp;&nbsp;&nbsp;&nbsp;

Allspring Short-Term High Income Fund \| 19

------

Notes to financial statements (unaudited)

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

3. FAIR VALUATION MEASUREMENTS

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

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

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

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

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

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Asset-backed securities** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $39644414 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $39644414 |
| **Corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1929199343 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1929199343 |
| **Investment companies** | &nbsp;&nbsp; 43206193 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 43206193 |
| **Loans** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 61769045 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 61769045 |
| **Non-agency mortgage-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 5871185 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 5871185 |
| **Yankee corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 279979616 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 279979616 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 121070168 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 121070168 |
|  | &nbsp;&nbsp; 164276361 | &nbsp;&nbsp;&nbsp; 2316463603 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 2480739964 |
| **Futures contracts** | &nbsp;&nbsp; 269418 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 269418 |
| **Total assets** | &nbsp;&nbsp; **$164545779** | &nbsp;&nbsp;&nbsp; **$2316463603** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$2481009382** |
| **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** |
| **Futures contracts** | &nbsp;&nbsp; $497137 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $497137 |
| **Total liabilities** | &nbsp;&nbsp; **$497137** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$497137** |

---

Futures contracts are reported at their cumulative unrealized gains (losses) at measurement date as reported in the table following the Portfolio of investments. For futures contracts, the current day's variation margin is reported on the Statement of assets and liabilities. All other assets and liabilities are reported at their market value at measurement date.

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

At February 28, 2026, the Fund did not have any transfers into/out of Level 3.

4. TRANSACTIONS WITH AFFILIATES

Management fee

Allspring Funds Management, a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P., is the manager of the Fund and provides advisory and fund-level administrative services under an investment management agreement. Under the investment management agreement, Allspring Funds Management is responsible for, among other services, implementing the investment objectives and strategies of the Fund, supervising the subadviser and providing fund-level administrative services in connection with the Fund's operations. As compensation for its services under the investment management agreement, Allspring Funds

20 \| Allspring Short-Term High Income Fund

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Notes to financial statements (unaudited)

Management is entitled to receive a management fee, which is generally paid monthly, at the following annual rate based on the Fund's average daily net assets:

---

| | |
|:---|:---|
| Average daily net assets | Management fee |
| First $500 million | 0.500<br> %<br>|
| Next $500 million | 0.475 |
| Next $2 billion | 0.450 |
| Next $2 billion | 0.425 |
| Next $5 billion | 0.390 |
| Over $10 billion | 0.380 |

---

For the six months ended February 28, 2026, the management fee was equivalent to an annual rate of 0.46% of the Fund's average daily net assets.

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

Administration fees

Under a class-level administration agreement, Allspring Funds Management provides class-level administrative services to the Fund, which includes paying fees and expenses for services provided by the transfer agent, sub-transfer agents, omnibus account servicers and record-keepers. As compensation for its services under the class-level administration agreement, Allspring Funds Management receives an annual fee which is calculated based on the average daily net assets of each class and generally paid monthly, as follows:

---

| | |
|:---|:---|
|  | Class-level <br>administration fee<br>|
| Class A | 0.15<br> %<br>|
| Class C | 0.15 |
| Administrator Class | 0.10 |
| Institutional Class | 0.08 |

---

Waivers and/or expense reimbursements

Allspring Funds Management has contractually committed to waive and/or reimburse management and administration fees to the extent necessary to maintain certain net operating expense ratios for the Fund. When each class of the Fund has exceeded its expense cap, Allspring Funds Management will waive fees and/or reimbursed expenses from fund-level expenses on a proportionate basis and then from class specific expenses. When only certain classes exceed their expense caps, waivers and/or reimbursements are applied against class specific expenses before fund-level expenses. Allspring Funds Management has contractually committed through December 31, 2026 to waive fees and/or reimburse expenses to the extent necessary to cap the Fund's expenses. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. As of February 28, 2026, the contractual caps are as follows:&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | EXPENSE RATIO CAPS |
| Class A | 0.81<br> %<br>|
| Class C | 1.56 |
| Institutional Class | 0.50 |

---

Distribution fee

The Trust has adopted a distribution plan for Class C shares pursuant to Rule 12b-1 under the 1940 Act. A distribution fee is charged to Class C shares and paid to Allspring Funds Distributor, LLC ("Allspring Funds Distributor"), the principal underwriter, an affiliate of Allspring Funds Management, at an annual rate up to 0.75% of the average daily net assets of Class C shares. Such fees are generally paid on a monthly basis.

In addition, Allspring Funds Distributor is entitled to receive the front-end sales charge from the purchase of Class A shares and a contingent deferred sales charge on the redemption of certain Class A shares. Allspring Funds Distributor is also entitled to receive the contingent deferred sales charges from redemptions of Class C shares. For the six months ended February 28, 2026, Allspring Funds Distributor received $5,693 from the sale of Class A shares and $1,918 and $2,814 in contingent deferred sales charges from redemptions of Class A and Class C shares, respectively.

Shareholder servicing fees

The Trust has entered into contracts with one or more shareholder servicing agents, whereby Class A, Class C and Administrator Class are charged a fee at an annual rate up to 0.25% of the average daily net assets of each respective class. These fees are generally paid on a monthly basis. A portion of these total shareholder servicing fees were paid to affiliates of the Fund.

Allspring Short-Term High Income Fund \| 21

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Notes to financial statements (unaudited)

Interfund transactions

The Fund may purchase or sell portfolio investment securities to certain affiliates pursuant to Rule 17a-7 under the 1940 Act and under procedures adopted by the Board of Trustees. The procedures have been designed to ensure that these interfund transactions, which do not incur broker commissions, are effected at current market prices. Pursuant to these procedures, the Fund did not have any interfund transactions during the six months ended February 28, 2026.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments, excluding U.S. government obligations (if any) and short-term securities, for the six months ended February 28, 2026 were $685,818,079 and $568,291,428, respectively.

6. DERIVATIVE TRANSACTIONS

During the six months ended February 28, 2026, the Fund entered into futures contracts to speculate on interest rates and to help manage the duration of the portfolio. The Fund had an average notional amount of $364,741,699 in long futures contracts and $108,860,485 in short futures contracts during the six months ended February 28, 2026.

The fair value, realized gains or losses and change in unrealized gains or losses, if any, on derivative instruments are reflected in the corresponding financial statement captions.

7. BANK BORROWINGS

The Fund, together with certain other registered Allspring Funds is party to a $275,000,000 revolving credit agreement whereby the Fund is permitted to use bank borrowings for temporary or emergency purposes, such as to fund shareholder redemption requests. Interest under the credit agreement is charged to the Fund based on a borrowing rate equal to the higher of the Federal Funds rate or the overnight bank funding rate in effect on that day plus a spread. In addition, an annual commitment fee based on the unused balance is allocated to each participating fund.

For the six months ended February 28, 2026, there were no borrowings by the Fund under the agreement.

8. INDEMNIFICATION

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

9. OPERATING SEGMENTS

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

10. NEW ACCOUNTING PRONOUNCEMENT

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

22 \| Allspring Short-Term High Income Fund

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Other information (unaudited)

Other information

Proxy voting information

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

Quarterly portfolio holdings information

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

Allspring Short-Term High Income Fund \| 23

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Other information (unaudited)

Item 8. Changes in and disagreements with accountants

Not applicable

Item 9. Matters submitted to fund shareholders for a vote

Not applicable

Item 10. Remuneration paid to directors, officers and others

Refer to information in the Statement of operations.

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

Not applicable

24 \| Allspring Short-Term High Income Fund

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![](g132415img97fe47101.jpg)

For more information

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

Allspring Funds

P.O. Box 219967

Kansas City, MO 64121-9967

Website: **allspringglobal.com**

Individual investors: **1-800-222-8222**

Retail investment professionals: **1-888-877-9275**

Institutional investment professionals: **1-800-260-5969**

![](g132415img52d547b52.gif)

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. If this report is used for promotional purposes, distribution of the report must be accompanied or preceded by a current prospectus. Before investing, please consider the investment objectives, risks, charges, and expenses of the investment. For a current prospectus and, if available, a summary prospectus, containing this information, call* ***1-800-222-8222*** *or visit the Fund's website at* ***allspringglobal.com****. Read the prospectus carefully before you invest or send money.*

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

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

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

**NCSRS3017 02-26**

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![](g132415img6d3cbfc11.jpg)

Allspring Ultra Short-Term Income Fund

Long Form Financial Statements

Semi-Annual Report

February 28, 2026

------

Contents

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

---

| | |
|:---|:---|
| **[Portfolio of investments](#xx_a2537837-4b43-450f-af95-af0557f896f6_POI-PageBlank-101_1)** | 2 |
| **[Item 7. Financial statements and financial highlights](#xx_a2537837-4b43-450f-af95-af0557f896f6_FS-PageBlank-101_1)** |  |
| [Statement of assets and liabilities](#xx_a2537837-4b43-450f-af95-af0557f896f6_FS-PageBlank-101_1) | 23 |
| [Statement of operations](#xx_a2537837-4b43-450f-af95-af0557f896f6_FS-PageBlank-101_2) | 24 |
| [Statement of changes in net assets](#xx_a2537837-4b43-450f-af95-af0557f896f6_FS-PageBlank-101_4) | 26 |
| [Financial highlights](#xx_a2537837-4b43-450f-af95-af0557f896f6_FIHI-PageBlank-101_1) | 28 |
| **[Notes to financial statements](#xx_a2537837-4b43-450f-af95-af0557f896f6_NTF-PageBlank-101_1)** | 31 |
| **[Other information](#xx_a2537837-4b43-450f-af95-af0557f896f6_OI-PageBlank-101_1)** | 37 |
| [Item 8. Changes in and disagreements with accountants](#xx_a2537837-4b43-450f-af95-af0557f896f6_OI-PageBlank-101_2) | 38 |
| [Item 9. Matters submitted to fund shareholders for a vote](#xx_a2537837-4b43-450f-af95-af0557f896f6_OI-PageBlank-101_2) | 38 |
| [Item 10. Remuneration paid to directors, officers and others](#xx_a2537837-4b43-450f-af95-af0557f896f6_OI-PageBlank-101_2) | 38 |
| [Item 11. Statement regarding basis for board](#xx_a2537837-4b43-450f-af95-af0557f896f6_OI-PageBlank-101_2)['](#xx_a2537837-4b43-450f-af95-af0557f896f6_OI-PageBlank-101_2)[s approval of investment](#xx_a2537837-4b43-450f-af95-af0557f896f6_OI-PageBlank-101_2)<br> [advisory contract](#xx_a2537837-4b43-450f-af95-af0557f896f6_OI-PageBlank-101_2)<br>| 38 |

---

Allspring Ultra Short-Term Income Fund \| 1

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Portfolio of investments—February 28, 2026 (unaudited)

Portfolio of investments

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest <br>rate<br>| Maturity <br>date<br>| Principal | Value |
| **Agency securities: 3.76%** |  |  |  |  |
| FHLMC | 4.50<br> %<br>| &nbsp;&nbsp; 9-1-2026 | $1545 | &nbsp;&nbsp; $1553 |
| FHLMC | 7.00 | &nbsp;&nbsp; 6-1-2031 | 80512 | &nbsp;&nbsp; 84435 |
| &nbsp;&nbsp; FHLMC Multifamily Structured Pass-Through Certificates <br> Series Q004 Class AFL (12 Month Treasury Average+0.74%)±<br>| 4.66 | &nbsp;&nbsp; 5-25-2044 | 472942 | &nbsp;&nbsp; 472757 |
| FHLMC STRIPS Series 20 Class F±± | 5.16 | &nbsp;&nbsp; 7-1-2029 | 46 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-16 Class A <br> (30 Day Average U.S. SOFR+0.46%)±<br>| 4.13 | &nbsp;&nbsp; 6-25-2029 | 593917 | &nbsp;&nbsp; 579557 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-20 Class A7 <br> (30 Day Average U.S. SOFR+0.41%)±<br>| 4.08 | &nbsp;&nbsp; 12-25-2029 | 1299522 | &nbsp;&nbsp; 1266599 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-27 Class A <br> (30 Day Average U.S. SOFR+0.41%)±<br>| 4.08 | &nbsp;&nbsp; 10-25-2030 | 222268 | &nbsp;&nbsp; 222237 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-30 Class A7 <br> (30 Day Average U.S. SOFR+0.35%)±<br>| 4.02 | &nbsp;&nbsp; 12-25-2030 | 365355 | &nbsp;&nbsp; 365149 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-35 Class A <br> (30 Day Average U.S. SOFR+0.39%)±<br>| 4.06 | &nbsp;&nbsp; 9-25-2031 | 395324 | &nbsp;&nbsp; 396121 |
| FHLMC Structured Pass-Through Certificates Series T-42 Class A6 | 9.50 | &nbsp;&nbsp; 2-25-2042 | 299441 | &nbsp;&nbsp; 360245 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-48 <br> Class 2A±±<br>| 4.44 | &nbsp;&nbsp; 7-25-2033 | 623199 | &nbsp;&nbsp; 599720 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-54 <br> Class 4A±±<br>| 4.26 | &nbsp;&nbsp; 2-25-2043 | 329447 | &nbsp;&nbsp; 322373 |
| FHLMC Structured Pass-Through Certificates Series T-55 Class 1A1 | 6.50 | &nbsp;&nbsp; 3-25-2043 | 19275 | &nbsp;&nbsp; 19899 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-56 Class 3AF <br> (30 Day Average U.S. SOFR+1.11%)±<br>| 4.78 | &nbsp;&nbsp; 5-25-2043 | 612004 | &nbsp;&nbsp; 614037 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-62 Class 1A1 <br> (12 Month Treasury Average+1.20%)±<br>| 5.12 | &nbsp;&nbsp; 10-25-2044 | 963119 | &nbsp;&nbsp; 892651 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-63 Class 1A1 <br> (12 Month Treasury Average+1.20%)±<br>| 5.12 | &nbsp;&nbsp; 2-25-2045 | 868362 | &nbsp;&nbsp; 851065 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-66 <br> Class 2A1±±<br>| 4.54 | &nbsp;&nbsp; 1-25-2036 | 582725 | &nbsp;&nbsp; 571007 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-67 <br> Class 1A1C±±<br>| 3.84 | &nbsp;&nbsp; 3-25-2036 | 1507707 | &nbsp;&nbsp; 1469313 |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates Series T-67 <br> Class 2A1C±±<br>| 3.84 | &nbsp;&nbsp; 3-25-2036 | 1459495 | &nbsp;&nbsp; 1389606 |
| FHLMC (1 Year Treasury Constant Maturity+1.95%)± | 6.08 | &nbsp;&nbsp; 5-1-2035 | 118004 | &nbsp;&nbsp; 119978 |
| FHLMC (1 Year Treasury Constant Maturity+1.96%)± | 5.91 | &nbsp;&nbsp; 8-1-2033 | 102771 | &nbsp;&nbsp; 103402 |
| FHLMC (1 Year Treasury Constant Maturity+1.99%)± | 5.86 | &nbsp;&nbsp; 11-1-2034 | 22343 | &nbsp;&nbsp; 22788 |
| FHLMC (1 Year Treasury Constant Maturity+2.03%)± | 5.90 | &nbsp;&nbsp; 12-1-2035 | 83207 | &nbsp;&nbsp; 84896 |
| FHLMC (1 Year Treasury Constant Maturity+2.10%)± | 5.95 | &nbsp;&nbsp; 10-1-2037 | 98465 | &nbsp;&nbsp; 100320 |
| FHLMC (1 Year Treasury Constant Maturity+2.16%)± | 5.95 | &nbsp;&nbsp; 6-1-2033 | 194708 | &nbsp;&nbsp; 198751 |
| FHLMC (1 Year Treasury Constant Maturity+2.17%)± | 6.01 | &nbsp;&nbsp; 6-1-2036 | 159218 | &nbsp;&nbsp; 165613 |
| FHLMC (1 Year Treasury Constant Maturity+2.17%)± | 6.17 | &nbsp;&nbsp; 5-1-2037 | 8134 | &nbsp;&nbsp; 8370 |
| FHLMC (1 Year Treasury Constant Maturity+2.19%)± | 6.13 | &nbsp;&nbsp; 1-1-2037 | 148549 | &nbsp;&nbsp; 152639 |
| FHLMC (1 Year Treasury Constant Maturity+2.20%)± | 6.41 | &nbsp;&nbsp; 5-1-2035 | 43958 | &nbsp;&nbsp; 45192 |
| FHLMC (1 Year Treasury Constant Maturity+2.22%)± | 5.84 | &nbsp;&nbsp; 12-1-2033 | 94416 | &nbsp;&nbsp; 96596 |
| FHLMC (1 Year Treasury Constant Maturity+2.22%)± | 6.23 | &nbsp;&nbsp; 3-1-2035 | 159348 | &nbsp;&nbsp; 165646 |
| FHLMC (1 Year Treasury Constant Maturity+2.23%)± | 5.85 | &nbsp;&nbsp; 2-1-2034 | 131970 | &nbsp;&nbsp; 135164 |
| FHLMC (1 Year Treasury Constant Maturity+2.23%)± | 6.23 | &nbsp;&nbsp; 11-1-2026 | 5200 | &nbsp;&nbsp; 5192 |
| FHLMC (1 Year Treasury Constant Maturity+2.23%)± | 6.23 | &nbsp;&nbsp; 6-1-2035 | 41152 | &nbsp;&nbsp; 42241 |

---

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

2 \| Allspring Ultra Short-Term Income Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| FHLMC (1 Year Treasury Constant Maturity+2.23%)± | 6.48<br> %<br>| &nbsp;&nbsp; 4-1-2034 | $6187 | &nbsp;&nbsp; $6331 |
| FHLMC (1 Year Treasury Constant Maturity+2.23%)± | 6.48 | &nbsp;&nbsp; 4-1-2034 | 31363 | &nbsp;&nbsp; 32148 |
| FHLMC (1 Year Treasury Constant Maturity+2.24%)± | 6.06 | &nbsp;&nbsp; 4-1-2036 | 58957 | &nbsp;&nbsp; 60639 |
| FHLMC (1 Year Treasury Constant Maturity+2.24%)± | 6.49 | &nbsp;&nbsp; 3-1-2027 | 1080 | &nbsp;&nbsp; 1076 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 5.99 | &nbsp;&nbsp; 1-1-2037 | 16835 | &nbsp;&nbsp; 17621 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.00 | &nbsp;&nbsp; 4-1-2038 | 139442 | &nbsp;&nbsp; 143600 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.07 | &nbsp;&nbsp; 12-1-2034 | 58123 | &nbsp;&nbsp; 59705 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.16 | &nbsp;&nbsp; 10-1-2038 | 126416 | &nbsp;&nbsp; 129608 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.17 | &nbsp;&nbsp; 9-1-2038 | 298397 | &nbsp;&nbsp; 308262 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.20 | &nbsp;&nbsp; 5-1-2034 | 19392 | &nbsp;&nbsp; 19961 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.23 | &nbsp;&nbsp; 11-1-2035 | 220473 | &nbsp;&nbsp; 227033 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.26 | &nbsp;&nbsp; 5-1-2038 | 120324 | &nbsp;&nbsp; 123724 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.31 | &nbsp;&nbsp; 6-1-2035 | 16154 | &nbsp;&nbsp; 16814 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.31 | &nbsp;&nbsp; 4-1-2037 | 590933 | &nbsp;&nbsp; 610848 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.34 | &nbsp;&nbsp; 4-1-2038 | 186758 | &nbsp;&nbsp; 192519 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.38 | &nbsp;&nbsp; 9-1-2033 | 30422 | &nbsp;&nbsp; 31309 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.50 | &nbsp;&nbsp; 4-1-2032 | 19432 | &nbsp;&nbsp; 19839 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.50 | &nbsp;&nbsp; 4-1-2034 | 14965 | &nbsp;&nbsp; 15269 |
| FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.50 | &nbsp;&nbsp; 5-1-2034 | 78724 | &nbsp;&nbsp; 80727 |
| FHLMC (1 Year Treasury Constant Maturity+2.27%)± | 6.15 | &nbsp;&nbsp; 11-1-2029 | 13241 | &nbsp;&nbsp; 13423 |
| FHLMC (1 Year Treasury Constant Maturity+2.28%)± | 6.07 | &nbsp;&nbsp; 1-1-2035 | 93961 | &nbsp;&nbsp; 96675 |
| FHLMC (1 Year Treasury Constant Maturity+2.28%)± | 6.41 | &nbsp;&nbsp; 7-1-2034 | 19830 | &nbsp;&nbsp; 19952 |
| FHLMC (1 Year Treasury Constant Maturity+2.29%)± | 6.41 | &nbsp;&nbsp; 11-1-2027 | 12659 | &nbsp;&nbsp; 12661 |
| FHLMC (1 Year Treasury Constant Maturity+2.29%)± | 6.44 | &nbsp;&nbsp; 9-1-2033 | 102633 | &nbsp;&nbsp; 105149 |
| FHLMC (1 Year Treasury Constant Maturity+2.35%)± | 5.98 | &nbsp;&nbsp; 7-1-2031 | 5445 | &nbsp;&nbsp; 5476 |
| FHLMC (1 Year Treasury Constant Maturity+2.35%)± | 6.35 | &nbsp;&nbsp; 7-1-2038 | 119879 | &nbsp;&nbsp; 124329 |
| FHLMC (1 Year Treasury Constant Maturity+2.36%)± | 6.08 | &nbsp;&nbsp; 2-1-2035 | 76583 | &nbsp;&nbsp; 78829 |
| FHLMC (1 Year Treasury Constant Maturity+2.36%)± | 6.33 | &nbsp;&nbsp; 1-1-2028 | 206 | &nbsp;&nbsp; 208 |
| FHLMC (1 Year Treasury Constant Maturity+2.36%)± | 6.40 | &nbsp;&nbsp; 4-1-2032 | 146642 | &nbsp;&nbsp; 148099 |
| FHLMC (1 Year Treasury Constant Maturity+2.36%)± | 6.42 | &nbsp;&nbsp; 1-1-2028 | 361 | &nbsp;&nbsp; 364 |
| FHLMC (1 Year Treasury Constant Maturity+2.36%)± | 6.45 | &nbsp;&nbsp; 7-1-2027 | 12944 | &nbsp;&nbsp; 12928 |
| FHLMC (1 Year Treasury Constant Maturity+2.36%)± | 6.61 | &nbsp;&nbsp; 4-1-2038 | 302467 | &nbsp;&nbsp; 314009 |
| FHLMC (1 Year Treasury Constant Maturity+2.38%)± | 6.37 | &nbsp;&nbsp; 2-1-2034 | 507363 | &nbsp;&nbsp; 518353 |
| FHLMC (1 Year Treasury Constant Maturity+2.39%)± | 6.37 | &nbsp;&nbsp; 10-1-2033 | 90886 | &nbsp;&nbsp; 91889 |
| FHLMC (1 Year Treasury Constant Maturity+2.40%)± | 6.35 | &nbsp;&nbsp; 6-1-2035 | 69218 | &nbsp;&nbsp; 70503 |
| FHLMC (1 Year Treasury Constant Maturity+2.40%)± | 6.42 | &nbsp;&nbsp; 7-1-2029 | 6186 | &nbsp;&nbsp; 6267 |
| FHLMC (1 Year Treasury Constant Maturity+2.40%)± | 6.53 | &nbsp;&nbsp; 7-1-2031 | 5611 | &nbsp;&nbsp; 5647 |
| FHLMC (1 Year Treasury Constant Maturity+2.40%)± | 6.53 | &nbsp;&nbsp; 9-1-2031 | 18545 | &nbsp;&nbsp; 18910 |
| FHLMC (1 Year Treasury Constant Maturity+2.41%)± | 6.37 | &nbsp;&nbsp; 1-1-2037 | 298369 | &nbsp;&nbsp; 309611 |
| FHLMC (1 Year Treasury Constant Maturity+2.47%)± | 6.47 | &nbsp;&nbsp; 7-1-2034 | 74961 | &nbsp;&nbsp; 77349 |
| FHLMC (1 Year Treasury Constant Maturity+2.48%)± | 6.10 | &nbsp;&nbsp; 6-1-2030 | 6181 | &nbsp;&nbsp; 6213 |
| FHLMC (1 Year Treasury Constant Maturity+2.48%)± | 6.48 | &nbsp;&nbsp; 6-1-2030 | 53611 | &nbsp;&nbsp; 54205 |
| FHLMC (1 Year Treasury Constant Maturity+2.48%)± | 6.73 | &nbsp;&nbsp; 2-1-2030 | 12398 | &nbsp;&nbsp; 12600 |
| FHLMC (1 Year Treasury Constant Maturity+2.48%)± | 6.73 | &nbsp;&nbsp; 6-1-2030 | 7450 | &nbsp;&nbsp; 7554 |
| FHLMC (1 Year Treasury Constant Maturity+2.50%)± | 6.38 | &nbsp;&nbsp; 12-1-2032 | 40033 | &nbsp;&nbsp; 41163 |
| FHLMC (1 Year Treasury Constant Maturity+2.52%)± | 5.77 | &nbsp;&nbsp; 11-1-2029 | 16201 | &nbsp;&nbsp; 16311 |
| FHLMC (1 Year Treasury Constant Maturity+2.55%)± | 6.17 | &nbsp;&nbsp; 9-1-2029 | 7744 | &nbsp;&nbsp; 7796 |
| FHLMC (1 Year Treasury Constant Maturity+2.61%)± | 5.99 | &nbsp;&nbsp; 9-1-2030 | 13870 | &nbsp;&nbsp; 14055 |

---

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

Allspring Ultra Short-Term Income Fund \| 3

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| FHLMC (1 Year Treasury Constant Maturity+2.75%)± | 6.76<br> %<br>| &nbsp;&nbsp; 5-1-2028 | $17401 | &nbsp;&nbsp; $17559 |
| FHLMC (1 Year Treasury Constant Maturity+2.95%)± | 6.95 | &nbsp;&nbsp; 9-1-2030 | 3562 | &nbsp;&nbsp; 3587 |
| FHLMC (11th District COFI+1.25%)± | 4.17 | &nbsp;&nbsp; 1-1-2030 | 1071 | &nbsp;&nbsp; 1052 |
| FHLMC (11th District COFI+1.25%)± | 4.17 | &nbsp;&nbsp; 7-1-2030 | 26191 | &nbsp;&nbsp; 25697 |
| FHLMC (11th District COFI+1.25%)± | 4.79 | &nbsp;&nbsp; 11-1-2030 | 3229 | &nbsp;&nbsp; 3175 |
| FHLMC (12 Month Treasury Average+2.46%)± | 6.84 | &nbsp;&nbsp; 10-1-2029 | 14729 | &nbsp;&nbsp; 14775 |
| FHLMC (3 Year Treasury Constant Maturity+2.40%)± | 6.15 | &nbsp;&nbsp; 5-1-2031 | 13106 | &nbsp;&nbsp; 13180 |
| FHLMC (3 Year Treasury Constant Maturity+2.44%)± | 5.19 | &nbsp;&nbsp; 5-1-2032 | 5800 | &nbsp;&nbsp; 5819 |
| FHLMC (3 Year Treasury Constant Maturity+2.91%)± | 5.35 | &nbsp;&nbsp; 6-1-2035 | 84470 | &nbsp;&nbsp; 85239 |
| FHLMC (5 Year Treasury Constant Maturity+2.13%)± | 6.00 | &nbsp;&nbsp; 8-1-2029 | 1910 | &nbsp;&nbsp; 1935 |
| FHLMC (5 Year Treasury Constant Maturity+2.44%)± | 3.57 | &nbsp;&nbsp; 8-1-2027 | 4361 | &nbsp;&nbsp; 4323 |
| FHLMC (RFUCCT1Y+1.51%)± | 6.01 | &nbsp;&nbsp; 2-1-2037 | 35809 | &nbsp;&nbsp; 36605 |
| FHLMC (RFUCCT1Y+1.61%)± | 6.16 | &nbsp;&nbsp; 7-1-2044 | 49132 | &nbsp;&nbsp; 51009 |
| FHLMC (RFUCCT1Y+1.62%)± | 3.27 | &nbsp;&nbsp; 2-1-2050 | 299831 | &nbsp;&nbsp; 305975 |
| FHLMC (RFUCCT1Y+1.62%)± | 6.34 | &nbsp;&nbsp; 7-1-2045 | 218215 | &nbsp;&nbsp; 226393 |
| FHLMC (RFUCCT1Y+1.67%)± | 6.54 | &nbsp;&nbsp; 8-1-2035 | 91217 | &nbsp;&nbsp; 94127 |
| FHLMC (RFUCCT1Y+1.72%)± | 6.41 | &nbsp;&nbsp; 5-1-2037 | 329187 | &nbsp;&nbsp; 341613 |
| FHLMC (RFUCCT1Y+1.73%)± | 6.19 | &nbsp;&nbsp; 1-1-2035 | 118316 | &nbsp;&nbsp; 121441 |
| FHLMC (RFUCCT1Y+1.74%)± | 6.22 | &nbsp;&nbsp; 12-1-2036 | 87516 | &nbsp;&nbsp; 91246 |
| FHLMC (RFUCCT1Y+1.75%)± | 6.37 | &nbsp;&nbsp; 1-1-2040 | 398452 | &nbsp;&nbsp; 414572 |
| FHLMC (RFUCCT1Y+1.75%)± | 6.43 | &nbsp;&nbsp; 6-1-2033 | 86070 | &nbsp;&nbsp; 87998 |
| FHLMC (RFUCCT1Y+1.75%)± | 6.65 | &nbsp;&nbsp; 5-1-2033 | 35358 | &nbsp;&nbsp; 36159 |
| FHLMC (RFUCCT1Y+1.75%)± | 6.75 | &nbsp;&nbsp; 4-1-2035 | 56654 | &nbsp;&nbsp; 58278 |
| FHLMC (RFUCCT1Y+1.76%)± | 6.33 | &nbsp;&nbsp; 9-1-2037 | 81612 | &nbsp;&nbsp; 85081 |
| FHLMC (RFUCCT1Y+1.77%)± | 6.40 | &nbsp;&nbsp; 6-1-2035 | 101496 | &nbsp;&nbsp; 103707 |
| FHLMC (RFUCCT1Y+1.77%)± | 6.48 | &nbsp;&nbsp; 10-1-2035 | 309987 | &nbsp;&nbsp; 318743 |
| FHLMC (RFUCCT1Y+1.77%)± | 6.50 | &nbsp;&nbsp; 8-1-2042 | 58724 | &nbsp;&nbsp; 61450 |
| FHLMC (RFUCCT1Y+1.77%)± | 6.53 | &nbsp;&nbsp; 10-1-2036 | 95620 | &nbsp;&nbsp; 99242 |
| FHLMC (RFUCCT1Y+1.78%)± | 6.42 | &nbsp;&nbsp; 9-1-2039 | 361049 | &nbsp;&nbsp; 373053 |
| FHLMC (RFUCCT1Y+1.78%)± | 6.44 | &nbsp;&nbsp; 11-1-2035 | 42712 | &nbsp;&nbsp; 43972 |
| FHLMC (RFUCCT1Y+1.80%)± | 6.49 | &nbsp;&nbsp; 8-1-2037 | 369561 | &nbsp;&nbsp; 382341 |
| FHLMC (RFUCCT1Y+1.81%)± | 6.38 | &nbsp;&nbsp; 9-1-2037 | 88980 | &nbsp;&nbsp; 92340 |
| FHLMC (RFUCCT1Y+1.81%)± | 6.76 | &nbsp;&nbsp; 4-1-2035 | 272492 | &nbsp;&nbsp; 280930 |
| FHLMC (RFUCCT1Y+1.83%)± | 6.32 | &nbsp;&nbsp; 5-1-2039 | 101386 | &nbsp;&nbsp; 104530 |
| FHLMC (RFUCCT1Y+1.85%)± | 6.48 | &nbsp;&nbsp; 7-1-2038 | 286217 | &nbsp;&nbsp; 297246 |
| FHLMC (RFUCCT1Y+1.86%)± | 6.32 | &nbsp;&nbsp; 9-1-2036 | 130921 | &nbsp;&nbsp; 135010 |
| FHLMC (RFUCCT1Y+1.88%)± | 6.88 | &nbsp;&nbsp; 4-1-2037 | 63871 | &nbsp;&nbsp; 65924 |
| FHLMC (RFUCCT1Y+1.91%)± | 6.78 | &nbsp;&nbsp; 3-1-2032 | 53949 | &nbsp;&nbsp; 55117 |
| FHLMC (RFUCCT1Y+1.92%)± | 6.36 | &nbsp;&nbsp; 4-1-2035 | 301394 | &nbsp;&nbsp; 309859 |
| FHLMC (RFUCCT1Y+1.93%)± | 6.93 | &nbsp;&nbsp; 4-1-2037 | 29715 | &nbsp;&nbsp; 30639 |
| FHLMC (RFUCCT1Y+1.99%)± | 6.43 | &nbsp;&nbsp; 7-1-2036 | 88373 | &nbsp;&nbsp; 90911 |
| FHLMC (RFUCCT1Y+2.07%)± | 7.01 | &nbsp;&nbsp; 3-1-2038 | 288403 | &nbsp;&nbsp; 301430 |
| FHLMC (RFUCCT6M+1.42%)± | 5.54 | &nbsp;&nbsp; 2-1-2037 | 493 | &nbsp;&nbsp; 500 |
| FHLMC (RFUCCT6M+1.69%)± | 6.14 | &nbsp;&nbsp; 1-1-2037 | 259795 | &nbsp;&nbsp; 267813 |
| FHLMC (RFUCCT6M+1.83%)± | 6.13 | &nbsp;&nbsp; 6-1-2037 | 108548 | &nbsp;&nbsp; 108839 |
| FHLMC (RFUCCT6M+2.12%)± | 6.48 | &nbsp;&nbsp; 5-1-2037 | 15724 | &nbsp;&nbsp; 15741 |
| FHLMC Series 2315 Class FW (30 Day Average U.S. SOFR+0.66%)± | 4.32 | &nbsp;&nbsp; 4-15-2027 | 513 | &nbsp;&nbsp; 513 |
| FHLMC Series 2391 Class EF (30 Day Average U.S. SOFR+0.61%)± | 4.27 | &nbsp;&nbsp; 6-15-2031 | 10825 | &nbsp;&nbsp; 10834 |

---

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

4 \| Allspring Ultra Short-Term Income Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| &nbsp;&nbsp; FHLMC Series 2454 Class SL (30 Day Average <br> U.S. SOFR+7.89%)ƒ±<br>| 4.23<br> %<br>| &nbsp;&nbsp; 3-15-2032 | $25524 | &nbsp;&nbsp; $2485 |
| FHLMC Series 2461 Class FI (30 Day Average U.S. SOFR+0.61%)± | 4.27 | &nbsp;&nbsp; 4-15-2028 | 3912 | &nbsp;&nbsp; 3913 |
| FHLMC Series 2464 Class FE (30 Day Average U.S. SOFR+1.11%)± | 4.77 | &nbsp;&nbsp; 3-15-2032 | 16636 | &nbsp;&nbsp; 16820 |
| FHLMC Series 2466 Class FV (30 Day Average U.S. SOFR+0.66%)± | 4.32 | &nbsp;&nbsp; 3-15-2032 | 34182 | &nbsp;&nbsp; 34241 |
| FHLMC Series 2538 Class F (30 Day Average U.S. SOFR+0.71%)± | 4.37 | &nbsp;&nbsp; 12-15-2032 | 78511 | &nbsp;&nbsp; 78729 |
| FHLMC Series 3114 Class FT (30 Day Average U.S. SOFR+0.46%)± | 4.12 | &nbsp;&nbsp; 9-15-2030 | 45145 | &nbsp;&nbsp; 45059 |
| FHLMC Series 3286 Class FA (30 Day Average U.S. SOFR+0.51%)± | 4.17 | &nbsp;&nbsp; 3-15-2037 | 31257 | &nbsp;&nbsp; 31042 |
| FHLMC Series 3436 Class A±± | 6.21 | &nbsp;&nbsp; 11-15-2036 | 111094 | &nbsp;&nbsp; 113897 |
| FHLMC Series 3924 Class MF (30 Day Average U.S. SOFR+0.61%)± | 4.27 | &nbsp;&nbsp; 9-15-2041 | 388232 | &nbsp;&nbsp; 386261 |
| FHLMC Series 3925 Class FL (30 Day Average U.S. SOFR+0.56%)± | 4.22 | &nbsp;&nbsp; 1-15-2041 | 6538 | &nbsp;&nbsp; 6536 |
| FHLMC Series 4889 Class CD | 3.00 | &nbsp;&nbsp; 4-15-2049 | 438801 | &nbsp;&nbsp; 401154 |
| FHLMC Series 4938 Class BF (30 Day Average U.S. SOFR+0.61%)± | 4.28 | &nbsp;&nbsp; 12-25-2049 | 2371851 | &nbsp;&nbsp; 2342985 |
| FNMA | 4.50 | &nbsp;&nbsp; 1-1-2027 | 2909 | &nbsp;&nbsp; 2922 |
| FNMA | 6.50 | &nbsp;&nbsp; 5-1-2031 | 14995 | &nbsp;&nbsp; 15633 |
| FNMA | 6.50 | &nbsp;&nbsp; 8-1-2031 | 93914 | &nbsp;&nbsp; 97375 |
| FNMA | 7.50 | &nbsp;&nbsp; 1-1-2031 | 2207 | &nbsp;&nbsp; 2217 |
| FNMA | 7.50 | &nbsp;&nbsp; 1-1-2033 | 16438 | &nbsp;&nbsp; 16537 |
| FNMA | 7.50 | &nbsp;&nbsp; 5-1-2033 | 21561 | &nbsp;&nbsp; 21639 |
| FNMA | 7.50 | &nbsp;&nbsp; 8-1-2033 | 21823 | &nbsp;&nbsp; 21964 |
| FNMA | 8.00 | &nbsp;&nbsp; 12-1-2026 | 955 | &nbsp;&nbsp; 956 |
| FNMA | 8.00 | &nbsp;&nbsp; 5-1-2033 | 20119 | &nbsp;&nbsp; 20239 |
| FNMA (1 Year Treasury Constant Maturity+1.50%)± | 5.59 | &nbsp;&nbsp; 8-1-2030 | 60616 | &nbsp;&nbsp; 61117 |
| FNMA (1 Year Treasury Constant Maturity+1.52%)± | 5.52 | &nbsp;&nbsp; 8-1-2033 | 157186 | &nbsp;&nbsp; 158805 |
| FNMA (1 Year Treasury Constant Maturity+1.58%)± | 5.83 | &nbsp;&nbsp; 3-1-2034 | 115644 | &nbsp;&nbsp; 116845 |
| FNMA (1 Year Treasury Constant Maturity+1.66%)± | 5.66 | &nbsp;&nbsp; 7-1-2048 | 278409 | &nbsp;&nbsp; 285659 |
| FNMA (1 Year Treasury Constant Maturity+1.70%)± | 5.32 | &nbsp;&nbsp; 2-1-2033 | 59897 | &nbsp;&nbsp; 60568 |
| FNMA (1 Year Treasury Constant Maturity+1.85%)± | 5.98 | &nbsp;&nbsp; 7-1-2038 | 65140 | &nbsp;&nbsp; 66635 |
| FNMA (1 Year Treasury Constant Maturity+1.88%)± | 5.88 | &nbsp;&nbsp; 8-1-2031 | 16614 | &nbsp;&nbsp; 16834 |
| FNMA (1 Year Treasury Constant Maturity+1.96%)± | 5.96 | &nbsp;&nbsp; 3-1-2032 | 8336 | &nbsp;&nbsp; 8441 |
| FNMA (1 Year Treasury Constant Maturity+2.02%)± | 5.93 | &nbsp;&nbsp; 12-1-2034 | 49400 | &nbsp;&nbsp; 50709 |
| FNMA (1 Year Treasury Constant Maturity+2.03%)± | 6.13 | &nbsp;&nbsp; 12-1-2032 | 96722 | &nbsp;&nbsp; 98400 |
| FNMA (1 Year Treasury Constant Maturity+2.08%)± | 6.15 | &nbsp;&nbsp; 12-1-2033 | 55300 | &nbsp;&nbsp; 56085 |
| FNMA (1 Year Treasury Constant Maturity+2.10%)± | 6.04 | &nbsp;&nbsp; 4-1-2040 | 25629 | &nbsp;&nbsp; 26279 |
| FNMA (1 Year Treasury Constant Maturity+2.10%)± | 6.24 | &nbsp;&nbsp; 9-1-2036 | 85484 | &nbsp;&nbsp; 87889 |
| FNMA (1 Year Treasury Constant Maturity+2.10%)± | 6.35 | &nbsp;&nbsp; 7-1-2035 | 28790 | &nbsp;&nbsp; 29512 |
| FNMA (1 Year Treasury Constant Maturity+2.11%)± | 6.20 | &nbsp;&nbsp; 7-1-2035 | 34933 | &nbsp;&nbsp; 35835 |
| FNMA (1 Year Treasury Constant Maturity+2.12%)± | 6.37 | &nbsp;&nbsp; 3-1-2031 | 2824 | &nbsp;&nbsp; 2855 |
| FNMA (1 Year Treasury Constant Maturity+2.13%)± | 6.02 | &nbsp;&nbsp; 5-1-2036 | 249891 | &nbsp;&nbsp; 255074 |
| FNMA (1 Year Treasury Constant Maturity+2.16%)± | 6.36 | &nbsp;&nbsp; 6-1-2027 | 6247 | &nbsp;&nbsp; 6266 |
| FNMA (1 Year Treasury Constant Maturity+2.17%)± | 5.90 | &nbsp;&nbsp; 12-1-2039 | 45190 | &nbsp;&nbsp; 45820 |
| FNMA (1 Year Treasury Constant Maturity+2.17%)± | 6.17 | &nbsp;&nbsp; 9-1-2030 | 1726 | &nbsp;&nbsp; 1725 |
| FNMA (1 Year Treasury Constant Maturity+2.17%)± | 6.24 | &nbsp;&nbsp; 9-1-2033 | 43657 | &nbsp;&nbsp; 44286 |
| FNMA (1 Year Treasury Constant Maturity+2.17%)± | 6.42 | &nbsp;&nbsp; 4-1-2038 | 3761 | &nbsp;&nbsp; 3890 |
| FNMA (1 Year Treasury Constant Maturity+2.18%)± | 5.92 | &nbsp;&nbsp; 1-1-2036 | 171301 | &nbsp;&nbsp; 172433 |
| FNMA (1 Year Treasury Constant Maturity+2.18%)± | 6.08 | &nbsp;&nbsp; 1-1-2036 | 47236 | &nbsp;&nbsp; 48648 |
| FNMA (1 Year Treasury Constant Maturity+2.18%)± | 6.18 | &nbsp;&nbsp; 6-1-2035 | 20276 | &nbsp;&nbsp; 20844 |
| FNMA (1 Year Treasury Constant Maturity+2.18%)± | 6.25 | &nbsp;&nbsp; 9-1-2035 | 131635 | &nbsp;&nbsp; 135721 |

---

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

Allspring Ultra Short-Term Income Fund \| 5

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| FNMA (1 Year Treasury Constant Maturity+2.18%)± | 6.25<br> %<br>| &nbsp;&nbsp; 10-1-2036 | $94878 | &nbsp;&nbsp; $98998 |
| FNMA (1 Year Treasury Constant Maturity+2.19%)± | 6.13 | &nbsp;&nbsp; 12-1-2040 | 1395504 | &nbsp;&nbsp; 1449959 |
| FNMA (1 Year Treasury Constant Maturity+2.19%)± | 6.19 | &nbsp;&nbsp; 8-1-2033 | 111016 | &nbsp;&nbsp; 113881 |
| FNMA (1 Year Treasury Constant Maturity+2.19%)± | 6.44 | &nbsp;&nbsp; 3-1-2035 | 77018 | &nbsp;&nbsp; 79124 |
| FNMA (1 Year Treasury Constant Maturity+2.21%)± | 6.21 | &nbsp;&nbsp; 8-1-2035 | 148774 | &nbsp;&nbsp; 153293 |
| FNMA (1 Year Treasury Constant Maturity+2.21%)± | 6.30 | &nbsp;&nbsp; 10-1-2034 | 337725 | &nbsp;&nbsp; 348719 |
| FNMA (1 Year Treasury Constant Maturity+2.21%)± | 6.46 | &nbsp;&nbsp; 5-1-2037 | 166120 | &nbsp;&nbsp; 171527 |
| FNMA (1 Year Treasury Constant Maturity+2.22%)± | 5.85 | &nbsp;&nbsp; 8-1-2031 | 49988 | &nbsp;&nbsp; 50878 |
| FNMA (1 Year Treasury Constant Maturity+2.22%)± | 6.09 | &nbsp;&nbsp; 11-1-2031 | 14612 | &nbsp;&nbsp; 14927 |
| FNMA (1 Year Treasury Constant Maturity+2.22%)± | 6.13 | &nbsp;&nbsp; 5-1-2034 | 56905 | &nbsp;&nbsp; 57966 |
| FNMA (1 Year Treasury Constant Maturity+2.22%)± | 6.15 | &nbsp;&nbsp; 12-1-2040 | 574714 | &nbsp;&nbsp; 592771 |
| FNMA (1 Year Treasury Constant Maturity+2.22%)± | 6.22 | &nbsp;&nbsp; 6-1-2032 | 23933 | &nbsp;&nbsp; 24466 |
| FNMA (1 Year Treasury Constant Maturity+2.22%)± | 6.22 | &nbsp;&nbsp; 6-1-2034 | 97613 | &nbsp;&nbsp; 100386 |
| FNMA (1 Year Treasury Constant Maturity+2.22%)± | 6.22 | &nbsp;&nbsp; 6-1-2035 | 104827 | &nbsp;&nbsp; 108163 |
| FNMA (1 Year Treasury Constant Maturity+2.22%)± | 6.22 | &nbsp;&nbsp; 7-1-2035 | 152484 | &nbsp;&nbsp; 157749 |
| FNMA (1 Year Treasury Constant Maturity+2.22%)± | 6.33 | &nbsp;&nbsp; 9-1-2035 | 465030 | &nbsp;&nbsp; 479462 |
| FNMA (1 Year Treasury Constant Maturity+2.22%)± | 6.35 | &nbsp;&nbsp; 10-1-2034 | 72162 | &nbsp;&nbsp; 74392 |
| FNMA (1 Year Treasury Constant Maturity+2.23%)± | 6.24 | &nbsp;&nbsp; 1-1-2037 | 90709 | &nbsp;&nbsp; 93080 |
| FNMA (1 Year Treasury Constant Maturity+2.23%)± | 6.24 | &nbsp;&nbsp; 7-1-2038 | 1337402 | &nbsp;&nbsp; 1395780 |
| FNMA (1 Year Treasury Constant Maturity+2.23%)± | 6.30 | &nbsp;&nbsp; 7-1-2037 | 73901 | &nbsp;&nbsp; 76737 |
| FNMA (1 Year Treasury Constant Maturity+2.24%)± | 6.09 | &nbsp;&nbsp; 11-1-2038 | 1010471 | &nbsp;&nbsp; 1057229 |
| FNMA (1 Year Treasury Constant Maturity+2.24%)± | 6.18 | &nbsp;&nbsp; 4-1-2038 | 163556 | &nbsp;&nbsp; 168598 |
| FNMA (1 Year Treasury Constant Maturity+2.24%)± | 6.29 | &nbsp;&nbsp; 7-1-2028 | 11 | &nbsp;&nbsp; 11 |
| FNMA (1 Year Treasury Constant Maturity+2.24%)± | 6.42 | &nbsp;&nbsp; 12-1-2040 | 44682 | &nbsp;&nbsp; 45503 |
| FNMA (1 Year Treasury Constant Maturity+2.25%)± | 6.25 | &nbsp;&nbsp; 7-1-2029 | 27305 | &nbsp;&nbsp; 27454 |
| FNMA (1 Year Treasury Constant Maturity+2.26%)± | 6.13 | &nbsp;&nbsp; 11-1-2035 | 30734 | &nbsp;&nbsp; 31753 |
| FNMA (1 Year Treasury Constant Maturity+2.28%)± | 6.40 | &nbsp;&nbsp; 9-1-2026 | 1524 | &nbsp;&nbsp; 1524 |
| FNMA (1 Year Treasury Constant Maturity+2.29%)± | 6.19 | &nbsp;&nbsp; 1-1-2031 | 12257 | &nbsp;&nbsp; 12457 |
| FNMA (1 Year Treasury Constant Maturity+2.29%)± | 6.27 | &nbsp;&nbsp; 8-1-2036 | 328123 | &nbsp;&nbsp; 341880 |
| FNMA (1 Year Treasury Constant Maturity+2.29%)± | 6.32 | &nbsp;&nbsp; 6-1-2037 | 421916 | &nbsp;&nbsp; 437368 |
| FNMA (1 Year Treasury Constant Maturity+2.29%)± | 6.42 | &nbsp;&nbsp; 12-1-2030 | 9373 | &nbsp;&nbsp; 9558 |
| FNMA (1 Year Treasury Constant Maturity+2.31%)± | 6.30 | &nbsp;&nbsp; 12-1-2034 | 48389 | &nbsp;&nbsp; 49864 |
| FNMA (1 Year Treasury Constant Maturity+2.31%)± | 6.32 | &nbsp;&nbsp; 5-1-2036 | 100484 | &nbsp;&nbsp; 104042 |
| FNMA (1 Year Treasury Constant Maturity+2.31%)± | 6.41 | &nbsp;&nbsp; 12-1-2030 | 40482 | &nbsp;&nbsp; 40899 |
| FNMA (1 Year Treasury Constant Maturity+2.32%)± | 6.45 | &nbsp;&nbsp; 7-1-2028 | 8526 | &nbsp;&nbsp; 8580 |
| FNMA (1 Year Treasury Constant Maturity+2.32%)± | 6.57 | &nbsp;&nbsp; 4-1-2028 | 9829 | &nbsp;&nbsp; 9916 |
| FNMA (1 Year Treasury Constant Maturity+2.34%)± | 6.11 | &nbsp;&nbsp; 1-1-2033 | 1128 | &nbsp;&nbsp; 1129 |
| FNMA (1 Year Treasury Constant Maturity+2.34%)± | 6.36 | &nbsp;&nbsp; 7-1-2030 | 13605 | &nbsp;&nbsp; 13742 |
| FNMA (1 Year Treasury Constant Maturity+2.35%)± | 6.34 | &nbsp;&nbsp; 9-1-2037 | 20286 | &nbsp;&nbsp; 20899 |
| FNMA (1 Year Treasury Constant Maturity+2.35%)± | 6.60 | &nbsp;&nbsp; 6-1-2027 | 4928 | &nbsp;&nbsp; 4952 |
| FNMA (1 Year Treasury Constant Maturity+2.36%)± | 6.24 | &nbsp;&nbsp; 11-1-2034 | 222497 | &nbsp;&nbsp; 232910 |
| FNMA (1 Year Treasury Constant Maturity+2.36%)± | 6.48 | &nbsp;&nbsp; 5-1-2034 | 38786 | &nbsp;&nbsp; 40023 |
| FNMA (1 Year Treasury Constant Maturity+2.37%)± | 6.05 | &nbsp;&nbsp; 9-1-2030 | 80456 | &nbsp;&nbsp; 81812 |
| FNMA (1 Year Treasury Constant Maturity+2.38%)± | 6.18 | &nbsp;&nbsp; 5-1-2033 | 11872 | &nbsp;&nbsp; 12077 |
| FNMA (1 Year Treasury Constant Maturity+2.38%)± | 6.42 | &nbsp;&nbsp; 7-1-2027 | 9736 | &nbsp;&nbsp; 9785 |
| FNMA (1 Year Treasury Constant Maturity+2.40%)± | 6.53 | &nbsp;&nbsp; 9-1-2033 | 179586 | &nbsp;&nbsp; 185259 |
| FNMA (1 Year Treasury Constant Maturity+2.41%)± | 6.46 | &nbsp;&nbsp; 5-1-2027 | 6639 | &nbsp;&nbsp; 6672 |
| FNMA (1 Year Treasury Constant Maturity+2.43%)± | 6.55 | &nbsp;&nbsp; 7-1-2037 | 498880 | &nbsp;&nbsp; 519833 |

---

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

6 \| Allspring Ultra Short-Term Income Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| FNMA (1 Year Treasury Constant Maturity+2.44%)± | 6.13<br> %<br>| &nbsp;&nbsp; 5-1-2035 | $180082 | &nbsp;&nbsp; $186807 |
| FNMA (1 Year Treasury Constant Maturity+2.47%)± | 6.47 | &nbsp;&nbsp; 9-1-2028 | 11550 | &nbsp;&nbsp; 11702 |
| FNMA (1 Year Treasury Constant Maturity+2.48%)± | 6.48 | &nbsp;&nbsp; 5-1-2033 | 15234 | &nbsp;&nbsp; 15516 |
| FNMA (1 Year Treasury Constant Maturity+2.49%)± | 6.49 | &nbsp;&nbsp; 7-1-2037 | 63190 | &nbsp;&nbsp; 65841 |
| FNMA (1 Year Treasury Constant Maturity+2.50%)± | 6.13 | &nbsp;&nbsp; 6-1-2032 | 46319 | &nbsp;&nbsp; 47610 |
| FNMA (1 Year Treasury Constant Maturity+2.50%)± | 6.25 | &nbsp;&nbsp; 9-1-2030 | 52477 | &nbsp;&nbsp; 53506 |
| FNMA (1 Year Treasury Constant Maturity+2.50%)± | 6.38 | &nbsp;&nbsp; 3-1-2027 | 561 | &nbsp;&nbsp; 560 |
| FNMA (1 Year Treasury Constant Maturity+2.50%)± | 6.50 | &nbsp;&nbsp; 10-1-2029 | 40170 | &nbsp;&nbsp; 40828 |
| FNMA (1 Year Treasury Constant Maturity+2.64%)± | 6.39 | &nbsp;&nbsp; 10-1-2028 | 5373 | &nbsp;&nbsp; 5428 |
| FNMA (1 Year Treasury Constant Maturity+2.64%)± | 6.84 | &nbsp;&nbsp; 7-1-2028 | 10809 | &nbsp;&nbsp; 10932 |
| FNMA (1 Year Treasury Constant Maturity+2.64%)± | 6.89 | &nbsp;&nbsp; 3-1-2030 | 1436 | &nbsp;&nbsp; 1454 |
| FNMA (1 Year Treasury Constant Maturity+2.72%)± | 6.97 | &nbsp;&nbsp; 5-1-2035 | 359315 | &nbsp;&nbsp; 375631 |
| FNMA (1 Year Treasury Constant Maturity+2.72%)± | 6.97 | &nbsp;&nbsp; 8-1-2035 | 76641 | &nbsp;&nbsp; 79963 |
| FNMA (1 Year Treasury Constant Maturity+3.03%)± | 7.16 | &nbsp;&nbsp; 1-1-2029 | 7884 | &nbsp;&nbsp; 8048 |
| FNMA (11th District COFI+1.25%)± | 4.18 | &nbsp;&nbsp; 4-1-2034 | 40638 | &nbsp;&nbsp; 39853 |
| FNMA (11th District COFI+1.26%)± | 4.19 | &nbsp;&nbsp; 1-1-2035 | 54555 | &nbsp;&nbsp; 53225 |
| FNMA (11th District COFI+1.27%)± | 4.20 | &nbsp;&nbsp; 3-1-2033 | 19872 | &nbsp;&nbsp; 19675 |
| FNMA (11th District COFI+1.28%)± | 4.21 | &nbsp;&nbsp; 9-1-2037 | 398965 | &nbsp;&nbsp; 394924 |
| FNMA (11th District COFI+1.68%)± | 4.50 | &nbsp;&nbsp; 1-1-2036 | 55853 | &nbsp;&nbsp; 54869 |
| FNMA (11th District COFI+1.70%)± | 4.52 | &nbsp;&nbsp; 4-1-2030 | 164 | &nbsp;&nbsp; 162 |
| FNMA (11th District COFI+1.80%)± | 4.63 | &nbsp;&nbsp; 6-1-2034 | 18839 | &nbsp;&nbsp; 18528 |
| FNMA (11th District COFI+1.80%)± | 4.66 | &nbsp;&nbsp; 10-1-2027 | 2203 | &nbsp;&nbsp; 2195 |
| FNMA (11th District COFI+1.83%)± | 4.78 | &nbsp;&nbsp; 5-1-2028 | 3643 | &nbsp;&nbsp; 3624 |
| FNMA (11th District COFI+1.90%)± | 6.45 | &nbsp;&nbsp; 5-1-2034 | 6768 | &nbsp;&nbsp; 6876 |
| FNMA (11th District COFI+1.92%)± | 4.80 | &nbsp;&nbsp; 9-1-2030 | 56022 | &nbsp;&nbsp; 55627 |
| FNMA (11th District COFI+1.93%)± | 4.76 | &nbsp;&nbsp; 12-1-2036 | 4312 | &nbsp;&nbsp; 4368 |
| FNMA (11th District COFI+1.94%)± | 4.81 | &nbsp;&nbsp; 3-1-2033 | 72783 | &nbsp;&nbsp; 72165 |
| FNMA (12 Month Treasury Average+1.15%)± | 4.64 | &nbsp;&nbsp; 1-1-2038 | 897 | &nbsp;&nbsp; 891 |
| FNMA (12 Month Treasury Average+1.24%)± | 5.22 | &nbsp;&nbsp; 4-1-2042 | 305149 | &nbsp;&nbsp; 306164 |
| FNMA (12 Month Treasury Average+1.74%)± | 5.72 | &nbsp;&nbsp; 7-1-2035 | 86299 | &nbsp;&nbsp; 87512 |
| FNMA (12 Month Treasury Average+1.76%)± | 5.71 | &nbsp;&nbsp; 10-1-2035 | 227122 | &nbsp;&nbsp; 231608 |
| FNMA (12 Month Treasury Average+1.77%)± | 5.73 | &nbsp;&nbsp; 6-1-2035 | 127482 | &nbsp;&nbsp; 129597 |
| FNMA (12 Month Treasury Average+1.84%)± | 5.79 | &nbsp;&nbsp; 11-1-2035 | 162067 | &nbsp;&nbsp; 165392 |
| FNMA (12 Month Treasury Average+1.84%)± | 5.80 | &nbsp;&nbsp; 11-1-2035 | 16251 | &nbsp;&nbsp; 16486 |
| FNMA (12 Month Treasury Average+1.86%)± | 5.81 | &nbsp;&nbsp; 11-1-2035 | 6031 | &nbsp;&nbsp; 6144 |
| FNMA (12 Month Treasury Average+1.92%)± | 5.88 | &nbsp;&nbsp; 11-1-2035 | 139690 | &nbsp;&nbsp; 141923 |
| FNMA (12 Month Treasury Average+2.04%)± | 6.04 | &nbsp;&nbsp; 8-1-2045 | 112570 | &nbsp;&nbsp; 116855 |
| FNMA (12 Month Treasury Average+2.09%)± | 6.08 | &nbsp;&nbsp; 1-1-2035 | 167372 | &nbsp;&nbsp; 171130 |
| FNMA (12 Month Treasury Average+2.10%)± | 6.05 | &nbsp;&nbsp; 10-1-2035 | 66202 | &nbsp;&nbsp; 67843 |
| FNMA (12 Month Treasury Average+2.11%)± | 6.04 | &nbsp;&nbsp; 8-1-2035 | 24221 | &nbsp;&nbsp; 24922 |
| FNMA (12 Month Treasury Average+2.15%)± | 6.14 | &nbsp;&nbsp; 7-1-2035 | 46993 | &nbsp;&nbsp; 47916 |
| FNMA (12 Month Treasury Average+2.36%)± | 6.33 | &nbsp;&nbsp; 8-1-2040 | 165704 | &nbsp;&nbsp; 168066 |
| FNMA (12 Month Treasury Average+2.48%)± | 6.75 | &nbsp;&nbsp; 6-1-2040 | 215606 | &nbsp;&nbsp; 218966 |
| FNMA (3 Year Treasury Constant Maturity+2.15%)± | 4.90 | &nbsp;&nbsp; 8-1-2031 | 13523 | &nbsp;&nbsp; 13605 |
| FNMA (5 Year Treasury Constant Maturity+1.90%)± | 5.40 | &nbsp;&nbsp; 9-1-2031 | 28933 | &nbsp;&nbsp; 28857 |
| FNMA (5 Year Treasury Constant Maturity+2.50%)± | 6.38 | &nbsp;&nbsp; 6-1-2028 | 310 | &nbsp;&nbsp; 311 |
| FNMA (Federal COFI+2.00%)± | 5.88 | &nbsp;&nbsp; 8-1-2029 | 8242 | &nbsp;&nbsp; 8254 |
| FNMA (Federal COFI+2.59%)± | 6.26 | &nbsp;&nbsp; 2-1-2029 | 32622 | &nbsp;&nbsp; 32636 |

---

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

Allspring Ultra Short-Term Income Fund \| 7

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| FNMA (RFUCCT1M+1.17%)± | 5.05<br> %<br>| &nbsp;&nbsp; 5-1-2029 | $15818 | &nbsp;&nbsp; $15883 |
| FNMA (RFUCCT1Y+1.49%)± | 6.17 | &nbsp;&nbsp; 9-1-2036 | 110691 | &nbsp;&nbsp; 113403 |
| FNMA (RFUCCT1Y+1.53%)± | 6.28 | &nbsp;&nbsp; 9-1-2035 | 146193 | &nbsp;&nbsp; 151195 |
| FNMA (RFUCCT1Y+1.55%)± | 6.24 | &nbsp;&nbsp; 1-1-2040 | 28516 | &nbsp;&nbsp; 28989 |
| FNMA (RFUCCT1Y+1.57%)± | 5.95 | &nbsp;&nbsp; 11-1-2044 | 30617 | &nbsp;&nbsp; 31614 |
| FNMA (RFUCCT1Y+1.58%)± | 6.12 | &nbsp;&nbsp; 2-1-2044 | 19731 | &nbsp;&nbsp; 20482 |
| FNMA (RFUCCT1Y+1.58%)± | 6.39 | &nbsp;&nbsp; 9-1-2044 | 319116 | &nbsp;&nbsp; 331930 |
| FNMA (RFUCCT1Y+1.59%)± | 5.90 | &nbsp;&nbsp; 2-1-2043 | 115324 | &nbsp;&nbsp; 120035 |
| FNMA (RFUCCT1Y+1.59%)± | 6.34 | &nbsp;&nbsp; 6-1-2044 | 218721 | &nbsp;&nbsp; 227331 |
| FNMA (RFUCCT1Y+1.59%)± | 6.40 | &nbsp;&nbsp; 8-1-2045 | 118289 | &nbsp;&nbsp; 122893 |
| FNMA (RFUCCT1Y+1.60%)± | 6.10 | &nbsp;&nbsp; 3-1-2046 | 443509 | &nbsp;&nbsp; 460226 |
| FNMA (RFUCCT1Y+1.60%)± | 6.35 | &nbsp;&nbsp; 9-1-2037 | 295052 | &nbsp;&nbsp; 303966 |
| FNMA (RFUCCT1Y+1.62%)± | 6.41 | &nbsp;&nbsp; 6-1-2036 | 10613 | &nbsp;&nbsp; 10882 |
| FNMA (RFUCCT1Y+1.63%)± | 6.56 | &nbsp;&nbsp; 11-1-2038 | 65065 | &nbsp;&nbsp; 66891 |
| FNMA (RFUCCT1Y+1.64%)± | 6.39 | &nbsp;&nbsp; 9-1-2042 | 62089 | &nbsp;&nbsp; 64570 |
| FNMA (RFUCCT1Y+1.67%)± | 6.40 | &nbsp;&nbsp; 7-1-2035 | 112695 | &nbsp;&nbsp; 115745 |
| FNMA (RFUCCT1Y+1.68%)± | 6.23 | &nbsp;&nbsp; 6-1-2041 | 403890 | &nbsp;&nbsp; 418789 |
| FNMA (RFUCCT1Y+1.70%)± | 6.38 | &nbsp;&nbsp; 4-1-2034 | 108282 | &nbsp;&nbsp; 112094 |
| FNMA (RFUCCT1Y+1.72%)± | 6.41 | &nbsp;&nbsp; 6-1-2035 | 25212 | &nbsp;&nbsp; 25997 |
| FNMA (RFUCCT1Y+1.72%)± | 6.46 | &nbsp;&nbsp; 9-1-2042 | 46075 | &nbsp;&nbsp; 47984 |
| FNMA (RFUCCT1Y+1.73%)± | 6.34 | &nbsp;&nbsp; 7-1-2043 | 453172 | &nbsp;&nbsp; 472380 |
| FNMA (RFUCCT1Y+1.73%)± | 6.52 | &nbsp;&nbsp; 2-1-2045 | 462931 | &nbsp;&nbsp; 484755 |
| FNMA (RFUCCT1Y+1.75%)± | 6.00 | &nbsp;&nbsp; 1-1-2035 | 73813 | &nbsp;&nbsp; 76133 |
| FNMA (RFUCCT1Y+1.75%)± | 6.50 | &nbsp;&nbsp; 7-1-2035 | 97559 | &nbsp;&nbsp; 100199 |
| FNMA (RFUCCT1Y+1.75%)± | 6.75 | &nbsp;&nbsp; 4-1-2034 | 57316 | &nbsp;&nbsp; 58689 |
| FNMA (RFUCCT1Y+1.75%)± | 6.75 | &nbsp;&nbsp; 5-1-2035 | 136568 | &nbsp;&nbsp; 140572 |
| FNMA (RFUCCT1Y+1.77%)± | 6.42 | &nbsp;&nbsp; 7-1-2044 | 1251765 | &nbsp;&nbsp; 1295931 |
| FNMA (RFUCCT1Y+1.77%)± | 6.72 | &nbsp;&nbsp; 4-1-2033 | 141440 | &nbsp;&nbsp; 144789 |
| FNMA (RFUCCT1Y+1.79%)± | 6.44 | &nbsp;&nbsp; 1-1-2042 | 588162 | &nbsp;&nbsp; 609159 |
| FNMA (RFUCCT1Y+1.83%)± | 6.33 | &nbsp;&nbsp; 1-1-2033 | 20893 | &nbsp;&nbsp; 21324 |
| FNMA (RFUCCT1Y+1.90%)± | 6.65 | &nbsp;&nbsp; 10-1-2034 | 178648 | &nbsp;&nbsp; 184217 |
| FNMA (RFUCCT1Y+1.93%)± | 6.68 | &nbsp;&nbsp; 9-1-2035 | 99395 | &nbsp;&nbsp; 103222 |
| FNMA (RFUCCT1Y+1.94%)± | 6.63 | &nbsp;&nbsp; 5-1-2038 | 146211 | &nbsp;&nbsp; 152223 |
| FNMA (RFUCCT1Y+1.95%)± | 6.70 | &nbsp;&nbsp; 5-1-2037 | 84987 | &nbsp;&nbsp; 87464 |
| FNMA (RFUCCT6M+1.16%)± | 5.50 | &nbsp;&nbsp; 8-1-2033 | 2007 | &nbsp;&nbsp; 2020 |
| FNMA (RFUCCT6M+1.18%)± | 5.68 | &nbsp;&nbsp; 8-1-2033 | 15117 | &nbsp;&nbsp; 15139 |
| FNMA (RFUCCT6M+1.30%)± | 5.70 | &nbsp;&nbsp; 10-1-2037 | 199226 | &nbsp;&nbsp; 202890 |
| FNMA (RFUCCT6M+1.38%)± | 6.00 | &nbsp;&nbsp; 8-1-2031 | 63522 | &nbsp;&nbsp; 64042 |
| FNMA (RFUCCT6M+1.38%)± | 6.00 | &nbsp;&nbsp; 10-1-2031 | 24933 | &nbsp;&nbsp; 25133 |
| FNMA (RFUCCT6M+1.40%)± | 5.52 | &nbsp;&nbsp; 1-1-2032 | 15335 | &nbsp;&nbsp; 15390 |
| FNMA (RFUCCT6M+1.42%)± | 5.79 | &nbsp;&nbsp; 12-1-2031 | 73821 | &nbsp;&nbsp; 74567 |
| FNMA (RFUCCT6M+1.51%)± | 5.88 | &nbsp;&nbsp; 11-1-2034 | 213645 | &nbsp;&nbsp; 217457 |
| FNMA (RFUCCT6M+1.51%)± | 5.92 | &nbsp;&nbsp; 9-1-2037 | 120479 | &nbsp;&nbsp; 124604 |
| FNMA (RFUCCT6M+1.55%)± | 5.74 | &nbsp;&nbsp; 1-1-2035 | 195700 | &nbsp;&nbsp; 203273 |
| FNMA (RFUCCT6M+1.55%)± | 6.03 | &nbsp;&nbsp; 3-1-2034 | 30150 | &nbsp;&nbsp; 30658 |
| FNMA (RFUCCT6M+1.61%)± | 5.90 | &nbsp;&nbsp; 6-1-2037 | 179419 | &nbsp;&nbsp; 183559 |
| FNMA (RFUCCT6M+1.93%)± | 6.18 | &nbsp;&nbsp; 6-1-2032 | 37510 | &nbsp;&nbsp; 37959 |
| FNMA (RFUCCT6M+1.96%)± | 6.28 | &nbsp;&nbsp; 1-1-2033 | 35574 | &nbsp;&nbsp; 36264 |

---

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

8 \| Allspring Ultra Short-Term Income Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| FNMA (RFUCCT6M+1.98%)± | 6.60<br> %<br>| &nbsp;&nbsp; 9-1-2033 | $32289 | &nbsp;&nbsp; $32925 |
| FNMA (RFUCCT6M+2.25%)± | 6.53 | &nbsp;&nbsp; 3-1-2034 | 286733 | &nbsp;&nbsp; 290299 |
| FNMA (RFUCCT6M+2.31%)± | 6.68 | &nbsp;&nbsp; 4-1-2033 | 113169 | &nbsp;&nbsp; 116229 |
| FNMA (RFUCCT6M+2.36%)± | 6.71 | &nbsp;&nbsp; 5-1-2033 | 327448 | &nbsp;&nbsp; 333377 |
| FNMA (RFUCCT6M+2.48%)± | 6.73 | &nbsp;&nbsp; 7-1-2033 | 18492 | &nbsp;&nbsp; 19241 |
| FNMA (RFUCCT6M+2.53%)± | 6.70 | &nbsp;&nbsp; 4-1-2033 | 99535 | &nbsp;&nbsp; 101084 |
| FNMA (RFUCCT6M+3.35%)± | 7.79 | &nbsp;&nbsp; 12-1-2032 | 60023 | &nbsp;&nbsp; 62413 |
| FNMA Series 2000-T6 Class A2 | 9.50 | &nbsp;&nbsp; 11-25-2040 | 120344 | &nbsp;&nbsp; 120012 |
| FNMA Series 2001-50 Class BA | 7.00 | &nbsp;&nbsp; 10-25-2041 | 24016 | &nbsp;&nbsp; 24795 |
| &nbsp;&nbsp; FNMA Series 2001-63 Class FD (30 Day Average <br> U.S. SOFR+0.71%)±<br>| 4.37 | &nbsp;&nbsp; 12-18-2031 | 13490 | &nbsp;&nbsp; 13515 |
| FNMA Series 2001-81 Class F (30 Day Average U.S. SOFR+0.66%)± | 4.33 | &nbsp;&nbsp; 1-25-2032 | 10722 | &nbsp;&nbsp; 10741 |
| FNMA Series 2001-T10 Class A2 | 7.50 | &nbsp;&nbsp; 12-25-2041 | 587383 | &nbsp;&nbsp; 615921 |
| FNMA Series 2001-T10 Class A3 | 9.50 | &nbsp;&nbsp; 12-25-2041 | 161621 | &nbsp;&nbsp; 175344 |
| FNMA Series 2001-T12 Class A4±± | 5.41 | &nbsp;&nbsp; 8-25-2041 | 1002322 | &nbsp;&nbsp; 1002128 |
| FNMA Series 2001-T12 Class A2 | 7.50 | &nbsp;&nbsp; 8-25-2041 | 44846 | &nbsp;&nbsp; 45361 |
| FNMA Series 2001-T12 Class A3 | 9.50 | &nbsp;&nbsp; 8-25-2041 | 142026 | &nbsp;&nbsp; 146368 |
| FNMA Series 2001-T8 Class A1 | 7.50 | &nbsp;&nbsp; 7-25-2041 | 35882 | &nbsp;&nbsp; 37025 |
| &nbsp;&nbsp; FNMA Series 2001-W1 Class AV1 (30 Day Average <br> U.S. SOFR+0.35%)±<br>| 3.90 | &nbsp;&nbsp; 8-25-2031 | 10397 | &nbsp;&nbsp; 10011 |
| FNMA Series 2001-W3 Class A±± | 7.00 | &nbsp;&nbsp; 9-25-2041 | 132061 | &nbsp;&nbsp; 133474 |
| FNMA Series 2002-5 Class FD (30 Day Average U.S. SOFR+1.01%)± | 4.68 | &nbsp;&nbsp; 2-25-2032 | 6353 | &nbsp;&nbsp; 6381 |
| FNMA Series 2002-59 Class F (30 Day Average U.S. SOFR+0.51%)± | 4.18 | &nbsp;&nbsp; 9-25-2032 | 3220 | &nbsp;&nbsp; 3218 |
| FNMA Series 2002-66 Class A3±± | 4.58 | &nbsp;&nbsp; 4-25-2042 | 2316292 | &nbsp;&nbsp; 2335664 |
| FNMA Series 2002-T1 Class A4 | 9.50 | &nbsp;&nbsp; 11-25-2031 | 148332 | &nbsp;&nbsp; 164548 |
| FNMA Series 2002-T12 Class A5±± | 5.35 | &nbsp;&nbsp; 10-25-2041 | 617741 | &nbsp;&nbsp; 634193 |
| FNMA Series 2002-T12 Class A3 | 7.50 | &nbsp;&nbsp; 5-25-2042 | 573657 | &nbsp;&nbsp; 615552 |
| FNMA Series 2002-T18 Class A5±± | 5.15 | &nbsp;&nbsp; 5-25-2042 | 1131305 | &nbsp;&nbsp; 1150542 |
| FNMA Series 2002-T19 Class A4±± | 5.23 | &nbsp;&nbsp; 3-25-2042 | 75624 | &nbsp;&nbsp; 75702 |
| FNMA Series 2002-W1 Class 3A±± | 3.87 | &nbsp;&nbsp; 4-25-2042 | 261399 | &nbsp;&nbsp; 257655 |
| FNMA Series 2002-W4 Class A6±± | 5.20 | &nbsp;&nbsp; 5-25-2042 | 617462 | &nbsp;&nbsp; 615537 |
| FNMA Series 2003-63 Class A8±± | 4.39 | &nbsp;&nbsp; 1-25-2043 | 396722 | &nbsp;&nbsp; 395845 |
| FNMA Series 2003-7 Class A2±± | 4.66 | &nbsp;&nbsp; 5-25-2042 | 227943 | &nbsp;&nbsp; 228929 |
| &nbsp;&nbsp; FNMA Series 2003-T2 Class A1 (30 Day Average <br> U.S. SOFR+0.39%)±<br>| 4.09 | &nbsp;&nbsp; 3-25-2033 | 364210 | &nbsp;&nbsp; 361340 |
| FNMA Series 2003-W10 Class 2A±± | 3.93 | &nbsp;&nbsp; 6-25-2043 | 739392 | &nbsp;&nbsp; 732668 |
| FNMA Series 2003-W11 Class A1±± | 7.27 | &nbsp;&nbsp; 6-25-2033 | 7580 | &nbsp;&nbsp; 7679 |
| FNMA Series 2003-W18 Class 2A±± | 5.29 | &nbsp;&nbsp; 6-25-2043 | 759603 | &nbsp;&nbsp; 765699 |
| FNMA Series 2003-W2 Class 1A3 | 7.50 | &nbsp;&nbsp; 7-25-2042 | 130031 | &nbsp;&nbsp; 137532 |
| FNMA Series 2003-W3 Class 1A4±± | 4.87 | &nbsp;&nbsp; 8-25-2042 | 11419 | &nbsp;&nbsp; 11153 |
| FNMA Series 2003-W4 Class 5A±± | 4.30 | &nbsp;&nbsp; 10-25-2042 | 263714 | &nbsp;&nbsp; 264703 |
| FNMA Series 2003-W6 Class 6A±± | 4.84 | &nbsp;&nbsp; 8-25-2042 | 244563 | &nbsp;&nbsp; 246718 |
| FNMA Series 2003-W8 Class 4A±± | 4.97 | &nbsp;&nbsp; 11-25-2042 | 351657 | &nbsp;&nbsp; 357057 |
| &nbsp;&nbsp; FNMA Series 2003-W9 Class A (30 Day Average <br> U.S. SOFR+0.23%)±<br>| 3.90 | &nbsp;&nbsp; 6-25-2033 | 575660 | &nbsp;&nbsp; 552514 |
| FNMA Series 2004-T1 Class 2A±± | 4.27 | &nbsp;&nbsp; 8-25-2043 | 509036 | &nbsp;&nbsp; 490399 |
| FNMA Series 2004-T3 Class 2A±± | 5.43 | &nbsp;&nbsp; 8-25-2043 | 334817 | &nbsp;&nbsp; 337489 |
| FNMA Series 2004-T3 Class 1A3 | 7.00 | &nbsp;&nbsp; 2-25-2044 | 175403 | &nbsp;&nbsp; 180956 |

---

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

Allspring Ultra Short-Term Income Fund \| 9

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Agency securities**(continued) |  |  |  |  |
| FNMA Series 2004-W1 Class 3A±± | 5.25<br> %<br>| &nbsp;&nbsp; 1-25-2043 | $21062 | &nbsp;&nbsp; $20951 |
| FNMA Series 2004-W1 Class 2A2 | 7.00 | &nbsp;&nbsp; 12-25-2033 | 75007 | &nbsp;&nbsp; 79116 |
| FNMA Series 2004-W12 Class 2A±± | 5.06 | &nbsp;&nbsp; 6-25-2044 | 975339 | &nbsp;&nbsp; 955402 |
| FNMA Series 2004-W15 Class 3A±± | 5.25 | &nbsp;&nbsp; 6-25-2044 | 1533658 | &nbsp;&nbsp; 1557863 |
| FNMA Series 2004-W2 Class 5A | 7.50 | &nbsp;&nbsp; 3-25-2044 | 14867 | &nbsp;&nbsp; 15472 |
| FNMA Series 2005-W3 Class 3A±± | 4.86 | &nbsp;&nbsp; 4-25-2045 | 285091 | &nbsp;&nbsp; 290120 |
| FNMA Series 2006-W1 Class 3A±± | 5.70 | &nbsp;&nbsp; 10-25-2045 | 781570 | &nbsp;&nbsp; 813302 |
| &nbsp;&nbsp; FNMA Series 2007-95 Class A2 (30 Day Average <br> U.S. SOFR+0.36%)±<br>| 4.73 | &nbsp;&nbsp; 8-27-2036 | 36628 | &nbsp;&nbsp; 37191 |
| &nbsp;&nbsp; FNMA Series 2007-W2 Class 1A1 (30 Day Average <br> U.S. SOFR+0.43%)±<br>| 4.10 | &nbsp;&nbsp; 3-25-2037 | 144148 | &nbsp;&nbsp; 142850 |
| &nbsp;&nbsp; FNMA Series 2012-47 Class FW (30 Day Average <br> U.S. SOFR+1.81%)±<br>| 5.48 | &nbsp;&nbsp; 5-25-2027 | 3726 | &nbsp;&nbsp; 3724 |
| &nbsp;&nbsp; FNMA Series 2013-23 Class LF (30 Day Average <br> U.S. SOFR+0.46%)±<br>| 4.26 | &nbsp;&nbsp; 3-25-2043 | 1341314 | &nbsp;&nbsp; 1326067 |
| FNMA Series 2018-47 Class PC | 3.50 | &nbsp;&nbsp; 9-25-2047 | 81882 | &nbsp;&nbsp; 80514 |
| GNMA | 6.50 | &nbsp;&nbsp; 8-20-2034 | 89432 | &nbsp;&nbsp; 89283 |
| GNMA | 7.00 | &nbsp;&nbsp; 6-15-2033 | 113896 | &nbsp;&nbsp; 120219 |
| GNMA (1 Year Treasury Constant Maturity+1.40%)± | 5.01 | &nbsp;&nbsp; 6-20-2058 | 1854 | &nbsp;&nbsp; 1878 |
| GNMA (1 Year Treasury Constant Maturity+1.50%)± | 5.63 | &nbsp;&nbsp; 1-20-2034 | 455278 | &nbsp;&nbsp; 462034 |
| GNMA (1 Year Treasury Constant Maturity+2.00%)± | 6.13 | &nbsp;&nbsp; 4-20-2041 | 19045 | &nbsp;&nbsp; 19488 |
| GNMA (1 Year Treasury Constant Maturity+2.00%)± | 6.25 | &nbsp;&nbsp; 1-20-2041 | 10560 | &nbsp;&nbsp; 10788 |
| GNMA (RFUCCT1M+0.57%)± | 4.55 | &nbsp;&nbsp; 5-20-2058 | 5938 | &nbsp;&nbsp; 5950 |
| GNMA Series 2014-44 Class IAƒ | 3.50 | &nbsp;&nbsp; 5-20-2028 | 130824 | &nbsp;&nbsp; 550 |
| **Total agency securities (Cost $68,043,531)** |  |  |  | &nbsp;&nbsp; **68390611** |
| **Asset-backed securities: 23.65%** |  |  |  |  |
| Acacia LLC Series 2025-1 Class A144A | 5.24 | &nbsp;&nbsp; 11-15-2037 | 2797829 | &nbsp;&nbsp; 2800185 |
| ACM Auto Trust Series 2025-3A Class A144A | 5.01 | &nbsp;&nbsp; 1-22-2030 | 5670378 | &nbsp;&nbsp; 5665786 |
| Affirm Asset Securitization Trust Series 2024-B Class A144A | 4.62 | &nbsp;&nbsp; 9-15-2029 | 7000000 | &nbsp;&nbsp; 7018317 |
| Aligned Data Centers Issuer LLC Series 2021-1A Class A2144A | 1.94 | &nbsp;&nbsp; 8-15-2046 | 7000000 | &nbsp;&nbsp; 6917458 |
| Ally Auto Receivables Trust Series 2024-2 Class A3 | 4.14 | &nbsp;&nbsp; 7-16-2029 | 3479285 | &nbsp;&nbsp; 3485334 |
| Ally Auto Receivables Trust Series 2025-1 Class A3 | 3.96 | &nbsp;&nbsp; 3-15-2030 | 1910000 | &nbsp;&nbsp; 1919000 |
| &nbsp;&nbsp; American Credit Acceptance Receivables Trust Series 2024-4 <br> Class B144A<br>| 4.80 | &nbsp;&nbsp; 11-13-2028 | 4477818 | &nbsp;&nbsp; 4481669 |
| &nbsp;&nbsp; AmeriCredit Automobile Receivables Trust Series 2025-1 <br> Class A2A144A<br>| 4.22 | &nbsp;&nbsp; 3-19-2029 | 4750000 | &nbsp;&nbsp; 4759707 |
| &nbsp;&nbsp; Angel Oak Mortgage Trust Series 2025-HB1 Class A1 (30 Day <br> Average U.S. SOFR+1.80%)144A±<br>| 5.47 | &nbsp;&nbsp; 2-25-2055 | 2096811 | &nbsp;&nbsp; 2111096 |
| &nbsp;&nbsp; Angel Oak Mortgage Trust Series 2025-HB2 Class A1 (30 Day <br> Average U.S. SOFR+1.60%)144A±<br>| 5.27 | &nbsp;&nbsp; 12-25-2055 | 5100145 | &nbsp;&nbsp; 5135802 |
| Aqua Finance Trust Series 2021-A Class A144A | 1.54 | &nbsp;&nbsp; 7-17-2046 | 2043524 | &nbsp;&nbsp; 1896697 |
| &nbsp;&nbsp; AREIT Trust Series 2025-CRE11 Class A (U.S. SOFR 1 <br> Month+1.55%)144A±<br>| 5.21 | &nbsp;&nbsp; 7-25-2043 | 4425000 | &nbsp;&nbsp; 4432884 |
| ARI Fleet Lease Trust Series 2026-A Class A2144A | 3.96 | &nbsp;&nbsp; 11-15-2034 | 7550000 | &nbsp;&nbsp; 7567758 |
| Avant Loans Funding Trust Series 2026-REV1 Class A144A | 4.52 | &nbsp;&nbsp; 5-15-2036 | 6500000 | &nbsp;&nbsp; 6503272 |
| &nbsp;&nbsp; Avtech Equipment Receivables Funding LLC Series 2026-1A <br> Class A144A<br>| 4.55 | &nbsp;&nbsp; 2-15-2033 | 8000000 | &nbsp;&nbsp; 7997537 |

---

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

10 \| Allspring Ultra Short-Term Income Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| Barings Equipment Finance LLC Series 2025-A Class A2144A | 4.64<br> %<br>| &nbsp;&nbsp; 10-13-2028 | $4308216 | &nbsp;&nbsp; $4333190 |
| &nbsp;&nbsp; BDS LLC Series 2025-FL14 Class A (U.S. SOFR 1 <br> Month+1.28%)144A±<br>| 4.95 | &nbsp;&nbsp; 10-17-2042 | 6480000 | &nbsp;&nbsp; 6487074 |
| BHG Securitization Trust Series 2021-A Class A144A | 1.42 | &nbsp;&nbsp; 11-17-2033 | 236679 | &nbsp;&nbsp; 235397 |
| Blue Owl Asset Leasing Trust LLC Series 2024-1A Class A2144A | 5.05 | &nbsp;&nbsp; 3-15-2029 | 2280081 | &nbsp;&nbsp; 2288626 |
| Camber Credit Auto Trust Series 2026-1A Class A144A♦ | 5.63 | &nbsp;&nbsp; 12-15-2031 | 4560000 | &nbsp;&nbsp; 4560000 |
| CarMax Auto Owner Trust Series 2023-3 Class A4 | 5.26 | &nbsp;&nbsp; 2-15-2029 | 1190000 | &nbsp;&nbsp; 1210105 |
| CarMax Select Receivables Trust Series 2025-B Class A2 | 4.19 | &nbsp;&nbsp; 3-15-2029 | 5250000 | &nbsp;&nbsp; 5256740 |
| CarMax Select Receivables Trust Series 2026-A Class A2A | 4.03 | &nbsp;&nbsp; 12-17-2029 | 10000000 | &nbsp;&nbsp; 10003240 |
| CFMT LLC Series 2021-AL1 Class B144A | 1.39 | &nbsp;&nbsp; 9-22-2031 | 575372 | &nbsp;&nbsp; 574139 |
| Commonbond Student Loan Trust Series 2018-BGS Class A1144A | 3.56 | &nbsp;&nbsp; 9-25-2045 | 1296724 | &nbsp;&nbsp; 1255735 |
| Dell Equipment Finance Trust Series 2025-1 Class A2144A | 4.68 | &nbsp;&nbsp; 7-22-2027 | 1937435 | &nbsp;&nbsp; 1942708 |
| &nbsp;&nbsp; ECMC Group Student Loan Trust Series 2018-2A Class A (30 Day <br> Average U.S. SOFR+0.91%)144A±<br>| 4.58 | &nbsp;&nbsp; 9-25-2068 | 94779 | &nbsp;&nbsp; 94276 |
| &nbsp;&nbsp; ECMC Group Student Loan Trust Series 2020-2A Class A (30 Day <br> Average U.S. SOFR+1.26%)144A±<br>| 4.93 | &nbsp;&nbsp; 11-25-2069 | 3121110 | &nbsp;&nbsp; 3142546 |
| Enterprise Fleet Financing LLC Series 2025-4 Class A2144A | 4.05 | &nbsp;&nbsp; 8-20-2028 | 4500000 | &nbsp;&nbsp; 4512272 |
| &nbsp;&nbsp; EquiFirst Mortgage Loan Trust Series 2003-2 Class 3A3 (U.S. SOFR <br> 1 Month+1.24%)±<br>| 4.90 | &nbsp;&nbsp; 9-25-2033 | 77718 | &nbsp;&nbsp; 78021 |
| Exeter Automobile Receivables Trust Series 2021-3A Class D | 1.55 | &nbsp;&nbsp; 6-15-2027 | 519768 | &nbsp;&nbsp; 517689 |
| FCCU Auto Receivables Trust Series 2026-1A Class A3144A | 4.01 | &nbsp;&nbsp; 4-15-2031 | 9750000 | &nbsp;&nbsp; 9767459 |
| First Investors Auto Owner Trust Series 2023-1A Class A144A | 6.44 | &nbsp;&nbsp; 10-16-2028 | 231768 | &nbsp;&nbsp; 233380 |
| Flagship Credit Auto Trust Series 2020-3 Class E144A | 4.98 | &nbsp;&nbsp; 12-15-2027 | 3274568 | &nbsp;&nbsp; 3275439 |
| Flagship Credit Auto Trust Series 2024-1 Class A3144A | 5.48 | &nbsp;&nbsp; 10-16-2028 | 5000000 | &nbsp;&nbsp; 5018233 |
| FREED ABS Trust Series 2022-3FP Class D144A | 7.36 | &nbsp;&nbsp; 8-20-2029 | 417602 | &nbsp;&nbsp; 418983 |
| GLS Auto Receivables Issuer Trust Series 2024-2A Class D144A | 6.19 | &nbsp;&nbsp; 2-15-2030 | 5000000 | &nbsp;&nbsp; 5164988 |
| GLS Auto Receivables Issuer Trust Series 2026-1A Class A3144A | 3.97 | &nbsp;&nbsp; 11-15-2029 | 3750000 | &nbsp;&nbsp; 3752677 |
| &nbsp;&nbsp; Gracie Point International Funding LLC Series 2025-1A Class A (30 <br> Day Average U.S. SOFR+1.50%)144A±<br>| 5.18 | &nbsp;&nbsp; 8-15-2028 | 7000000 | &nbsp;&nbsp; 7009460 |
| &nbsp;&nbsp; Hyundai Auto Lease Securitization Trust Series 2026-A <br> Class A3144A<br>| 3.97 | &nbsp;&nbsp; 12-15-2028 | 8100000 | &nbsp;&nbsp; 8134418 |
| Hyundai Auto Receivables Trust Series 2026-A Class A3 | 3.79 | &nbsp;&nbsp; 2-18-2031 | 8465000 | &nbsp;&nbsp; 8486807 |
| &nbsp;&nbsp; Imprint Payments Credit Card Master Trust Series 2025-A <br> Class A144A<br>| 4.84 | &nbsp;&nbsp; 9-15-2029 | 6350000 | &nbsp;&nbsp; 6368445 |
| John Deere Owner Trust Series 2023-C Class A4 | 5.39 | &nbsp;&nbsp; 8-15-2030 | 2327000 | &nbsp;&nbsp; 2367721 |
| Lendbuzz Securitization Trust Series 2024-3A Class A2144A | 4.97 | &nbsp;&nbsp; 10-15-2029 | 3277339 | &nbsp;&nbsp; 3279731 |
| Lendbuzz Securitization Trust Series 2026-1A Class A2144A | 4.68 | &nbsp;&nbsp; 7-15-2030 | 10000000 | &nbsp;&nbsp; 10012290 |
| Lendmark Funding Trust Series 2024-2A Class A144A | 4.47 | &nbsp;&nbsp; 2-21-2034 | 4620000 | &nbsp;&nbsp; 4638779 |
| M&T Bank Auto Receivables Trust Series 2024-1A Class A3144A | 5.22 | &nbsp;&nbsp; 2-17-2032 | 3301781 | &nbsp;&nbsp; 3337487 |
| Mercedes-Benz Auto Lease Trust Series 2026-A Class A3 | 3.93 | &nbsp;&nbsp; 1-15-2030 | 6750000 | &nbsp;&nbsp; 6776575 |
| &nbsp;&nbsp; MF1 Ltd. Series 2021-FL7 Class A (U.S. SOFR 1 <br> Month+1.19%)144A±<br>| 4.86 | &nbsp;&nbsp; 10-16-2036 | 2906511 | &nbsp;&nbsp; 2904793 |
| &nbsp;&nbsp; MF1 Ltd. Series 2022-FL8 Class A (U.S. SOFR 1 <br> Month+1.35%)144A±<br>| 5.02 | &nbsp;&nbsp; 2-19-2037 | 4967721 | &nbsp;&nbsp; 4966087 |
| Mission Lane Credit Card Master Trust Series 2024-B Class A144A | 5.88 | &nbsp;&nbsp; 1-15-2030 | 6280000 | &nbsp;&nbsp; 6309944 |
| MNR ABS Issuer I LLC‡ | 8.12 | &nbsp;&nbsp; 12-15-2038 | 1363562 | &nbsp;&nbsp; 1390833 |
| &nbsp;&nbsp; Navient Private Education Refinance Loan Trust Series 2021-EA <br> Class A144A<br>| 0.97 | &nbsp;&nbsp; 12-16-2069 | 696536 | &nbsp;&nbsp; 636165 |

---

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

Allspring Ultra Short-Term Income Fund \| 11

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp; Navient Student Loan Trust Series 2017-3A Class A3 (30 Day <br> Average U.S. SOFR+1.16%)144A±<br>| 4.83<br> %<br>| &nbsp;&nbsp; 7-26-2066 | $3708070 | &nbsp;&nbsp; $3758402 |
| Neighborly Issuer LLC Series 2023-1A Class A2144A | 7.31 | &nbsp;&nbsp; 1-30-2053 | 6790000 | &nbsp;&nbsp; 6867427 |
| &nbsp;&nbsp; NextGear Floorplan Master Owner Trust Series 2024-1A <br> Class A2144A<br>| 5.12 | &nbsp;&nbsp; 3-15-2029 | 8960000 | &nbsp;&nbsp; 9081989 |
| Nissan Auto Receivables Owner Trust Series 2025-B Class A2A | 4.00 | &nbsp;&nbsp; 7-17-2028 | 9725000 | &nbsp;&nbsp; 9740021 |
| NMEF Funding LLC Series 2024-A Class A2144A | 5.15 | &nbsp;&nbsp; 12-15-2031 | 6991164 | &nbsp;&nbsp; 7034658 |
| NMEF Funding LLC Series 2026-A Class A3144A | 4.20 | &nbsp;&nbsp; 2-15-2034 | 6170000 | &nbsp;&nbsp; 6194091 |
| Octane Receivables Trust Series 2025-RVM1 Class A144A | 4.48 | &nbsp;&nbsp; 12-20-2046 | 7441182 | &nbsp;&nbsp; 7475705 |
| OneMain Financial Issuance Trust Series 2021-1A Class A1144A | 1.55 | &nbsp;&nbsp; 6-16-2036 | 13300000 | &nbsp;&nbsp; 12995782 |
| &nbsp;&nbsp; OneMain Financial Issuance Trust Series 2023-2A Class A2 (30 Day <br> Average U.S. SOFR+1.50%)144A±<br>| 5.16 | &nbsp;&nbsp; 9-15-2036 | 5120000 | &nbsp;&nbsp; 5158692 |
| Oportun Issuance Trust Series 2025-C Class B144A | 4.93 | &nbsp;&nbsp; 7-8-2033 | 4364000 | &nbsp;&nbsp; 4374884 |
| OWN Equipment Fund III LLC Series 2025-2M Class A144A | 5.42 | &nbsp;&nbsp; 3-27-2034 | 3564107 | &nbsp;&nbsp; 3612392 |
| Pagaya AI Debt Grantor Trust Series 2025-6 Class B144A | 4.88 | &nbsp;&nbsp; 4-15-2033 | 2944729 | &nbsp;&nbsp; 2941670 |
| Pagaya AI Debt Grantor Trust Series 2025-7 Class A2144A | 4.53 | &nbsp;&nbsp; 5-15-2033 | 12148000 | &nbsp;&nbsp; 12162098 |
| Pagaya AI Debt Grantor Trust Series 2026-1 Class A2144A | 4.74 | &nbsp;&nbsp; 9-15-2033 | 3975000 | &nbsp;&nbsp; 3978316 |
| Pagaya AI Debt Trust Series 2025-4 Class A2144A | 5.37 | &nbsp;&nbsp; 1-17-2033 | 5584801 | &nbsp;&nbsp; 5625090 |
| PFS Financing Corp. Series 2024-B Class A144A | 4.95 | &nbsp;&nbsp; 2-15-2029 | 6031000 | &nbsp;&nbsp; 6089794 |
| PFS Financing Corp. Series 2025-D Class A144A | 4.47 | &nbsp;&nbsp; 5-15-2030 | 7000000 | &nbsp;&nbsp; 7084909 |
| &nbsp;&nbsp; PFS Financing Corp. Series 2025-E Class A (30 Day Average <br> U.S. SOFR+0.70%)144A±<br>| 4.36 | &nbsp;&nbsp; 7-15-2029 | 575000 | &nbsp;&nbsp; 575403 |
| Prestige Auto Receivables Trust Series 2024-2A Class B144A | 4.56 | &nbsp;&nbsp; 2-15-2029 | 3255000 | &nbsp;&nbsp; 3253419 |
| Qdoba Funding LLC Series 2023-1A Class A2144A | 8.50 | &nbsp;&nbsp; 9-14-2053 | 6982500 | &nbsp;&nbsp; 7308539 |
| RCKT Mortgage Trust Series 2023-CES3 Class A1B144A±± | 7.46 | &nbsp;&nbsp; 11-25-2043 | 1642548 | &nbsp;&nbsp; 1663005 |
| RFS Asset Securitization II LLC Series 2024-1 Class A144A | 6.55 | &nbsp;&nbsp; 7-15-2031 | 4190000 | &nbsp;&nbsp; 4260389 |
| Santander Drive Auto Receivables Trust Series 2026-1 Class B | 4.07 | &nbsp;&nbsp; 4-15-2032 | 16000000 | &nbsp;&nbsp; 16049750 |
| SBNA Auto Lease Trust Series 2025-A Class A3144A | 4.83 | &nbsp;&nbsp; 4-20-2028 | 1500000 | &nbsp;&nbsp; 1507180 |
| &nbsp;&nbsp; SLM Private Education Loan Trust Series 2010-C Class A5 <br> (U.S. SOFR 1 Month+4.86%)144A±<br>| 8.52 | &nbsp;&nbsp; 10-15-2041 | 2088926 | &nbsp;&nbsp; 2192930 |
| &nbsp;&nbsp; SLM Student Loan Trust Series 2003-10A Class A4 (90 Day Average <br> U.S. SOFR+0.93%)144A±<br>| 5.06 | &nbsp;&nbsp; 12-17-2068 | 8908350 | &nbsp;&nbsp; 8872527 |
| &nbsp;&nbsp; SLM Student Loan Trust Series 2013-1 Class A3 (30 Day Average <br> U.S. SOFR+0.66%)±<br>| 4.33 | &nbsp;&nbsp; 5-26-2055 | 2215673 | &nbsp;&nbsp; 2201840 |
| SpringCastle America Funding LLC Series 2020-AA Class A144A | 1.97 | &nbsp;&nbsp; 9-25-2037 | 1067853 | &nbsp;&nbsp; 1013002 |
| &nbsp;&nbsp; Stellantis Financial Underwritten Enhanced Lease Trust <br> Series 2025-CA Class A2144A<br>| 4.06 | &nbsp;&nbsp; 6-20-2028 | 3500000 | &nbsp;&nbsp; 3508135 |
| Synchrony Card Funding LLC Series 2025-A2 Class A | 4.49 | &nbsp;&nbsp; 5-15-2031 | 3625000 | &nbsp;&nbsp; 3683615 |
| &nbsp;&nbsp; TCI-Symphony CLO Ltd. Series 2016-1A Class AR2 (U.S. SOFR 3 <br> Month+1.28%)144A±<br>| 4.93 | &nbsp;&nbsp; 10-13-2032 | 1499972 | &nbsp;&nbsp; 1502833 |
| &nbsp;&nbsp; Tesla Lease Electric Vehicle Securitization LLC Series 2025-A <br> Class A3144A<br>| 4.27 | &nbsp;&nbsp; 11-20-2028 | 7130000 | &nbsp;&nbsp; 7176027 |
| Towd Point Mortgage Trust Series 2025-FIX1 Class A1144A±± | 4.97 | &nbsp;&nbsp; 9-25-2065 | 5494044 | &nbsp;&nbsp; 5520835 |
| &nbsp;&nbsp; TRTX Issuer Ltd. Series 2022-FL5 Class A (U.S. SOFR 1 <br> Month+1.65%)144A±<br>| 5.31 | &nbsp;&nbsp; 2-15-2039 | 7643913 | &nbsp;&nbsp; 7616849 |
| &nbsp;&nbsp; TRTX Issuer Ltd. Series 2025-FL6 Class A (U.S. SOFR 1 <br> Month+1.54%)144A±<br>| 5.20 | &nbsp;&nbsp; 9-18-2042 | 5100000 | &nbsp;&nbsp; 5106710 |
| Truist Bank Auto Credit-Linked Notes Series 2025-1 Class B144A | 4.73 | &nbsp;&nbsp; 9-26-2033 | 4265333 | &nbsp;&nbsp; 4289252 |
| U.S. Bank NA Series 2023-1 Class B144A | 6.79 | &nbsp;&nbsp; 8-25-2032 | 453505 | &nbsp;&nbsp; 457993 |

---

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

12 \| Allspring Ultra Short-Term Income Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| Wheels Fleet Lease Funding 1 LLC Series 2024-2A Class A1144A | 4.87<br> %<br>| &nbsp;&nbsp; 6-21-2039 | $1387796 | &nbsp;&nbsp; $1402088 |
| World Omni Auto Receivables Trust Series 2025-D Class A3 | 3.95 | &nbsp;&nbsp; 3-17-2031 | 3300000 | &nbsp;&nbsp; 3317521 |
| **Total asset-backed securities (Cost $429,209,840)** |  |  |  | &nbsp;&nbsp; **430090716** |
| **Corporate bonds and notes: 30.16%** |  |  |  |  |
| **Basic materials: 0.37%** |  |  |  |  |
| **Chemicals: 0.37%** |  |  |  |  |
| Syensqo Finance America LLC144A | 5.65 | &nbsp;&nbsp; 6-4-2029 | 6500000 | &nbsp;&nbsp; **6751690** |
| **Communications: 0.77%** |  |  |  |  |
| **Internet: 0.18%** |  |  |  |  |
| Alphabet, Inc. | 3.70 | &nbsp;&nbsp; 2-15-2029 | 3300000 | &nbsp;&nbsp; **3303194** |
| **Media: 0.20%** |  |  |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp.144A | 5.00 | &nbsp;&nbsp; 2-1-2028 | 3500000 | &nbsp;&nbsp; **3492454** |
| **Telecommunications: 0.39%** |  |  |  |  |
| Frontier California, Inc. Series F | 6.75 | &nbsp;&nbsp; 5-15-2027 | 3405000 | &nbsp;&nbsp; 3490125 |
| &nbsp;&nbsp; Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint <br> Spectrum Co. III LLC144A<br>| 5.15 | &nbsp;&nbsp; 3-20-2028 | 3613500 | &nbsp;&nbsp; 3638529 |
|  |  |  |  | &nbsp;&nbsp; **7128654** |
| **Consumer, cyclical: 4.34%** |  |  |  |  |
| **Airlines: 0.60%** |  |  |  |  |
| Alaska Airlines Pass-Through Trust Series 2020-1 Class A144A | 4.80 | &nbsp;&nbsp; 8-15-2027 | 3204414 | &nbsp;&nbsp; 3230608 |
| American Airlines Pass-Through Trust Series 2015-1 Class A | 3.38 | &nbsp;&nbsp; 5-1-2027 | 4740858 | &nbsp;&nbsp; 4687704 |
| Delta Air Lines, Inc. | 4.95 | &nbsp;&nbsp; 7-10-2028 | 2925000 | &nbsp;&nbsp; 2973622 |
|  |  |  |  | &nbsp;&nbsp; **10891934** |
| **Auto manufacturers: 2.80%** |  |  |  |  |
| BMW U.S. Capital LLC144A | 4.15 | &nbsp;&nbsp; 8-11-2027 | 5000000 | &nbsp;&nbsp; 5022461 |
| BMW U.S. Capital LLC144A | 4.65 | &nbsp;&nbsp; 8-13-2026 | 6505000 | &nbsp;&nbsp; 6525646 |
| Daimler Truck Finance North America LLC144A | 4.30 | &nbsp;&nbsp; 8-12-2027 | 3075000 | &nbsp;&nbsp; 3093426 |
| Daimler Truck Finance North America LLC144A | 4.95 | &nbsp;&nbsp; 1-13-2028 | 6305000 | &nbsp;&nbsp; 6412817 |
| Ford Motor Credit Co. LLC | 4.97 | &nbsp;&nbsp; 4-6-2029 | 3000000 | &nbsp;&nbsp; 3019132 |
| Ford Motor Credit Co. LLC | 5.13 | &nbsp;&nbsp; 11-5-2026 | 6000000 | &nbsp;&nbsp; 6034634 |
| General Motors Financial Co., Inc. | 5.35 | &nbsp;&nbsp; 7-15-2027 | 2185000 | &nbsp;&nbsp; 2222788 |
| General Motors Financial Co., Inc. | 5.40 | &nbsp;&nbsp; 4-6-2026 | 5000000 | &nbsp;&nbsp; 5005387 |
| Hyundai Capital America144A | 5.25 | &nbsp;&nbsp; 1-8-2027 | 7000000 | &nbsp;&nbsp; 7075424 |
| Volkswagen Group of America Finance LLC144A | 4.90 | &nbsp;&nbsp; 8-14-2026 | 6505000 | &nbsp;&nbsp; 6526113 |
|  |  |  |  | &nbsp;&nbsp; **50937828** |
| **Entertainment: 0.11%** |  |  |  |  |
| Discovery Global Holdings, Inc. | 3.76 | &nbsp;&nbsp; 3-15-2027 | 1896000 | &nbsp;&nbsp; **1890104** |
| **Lodging: 0.28%** |  |  |  |  |
| Las Vegas Sands Corp. | 5.90 | &nbsp;&nbsp; 6-1-2027 | 5000000 | &nbsp;&nbsp; **5087459** |

---

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

Allspring Ultra Short-Term Income Fund \| 13

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Retail: 0.55%** |  |  |  |  |
| Lowe's Cos., Inc. | 3.95<br> %<br>| &nbsp;&nbsp; 10-15-2027 | $10000000 | &nbsp;&nbsp; **$10030025** |
| **Consumer, non-cyclical: 4.38%** |  |  |  |  |
| **Agriculture: 0.39%** |  |  |  |  |
| Philip Morris International, Inc. | 4.75 | &nbsp;&nbsp; 2-12-2027 | 7000000 | &nbsp;&nbsp; **7063943** |
| **Commercial services: 1.37%** |  |  |  |  |
| Ashtead Capital, Inc.144A | 1.50 | &nbsp;&nbsp; 8-12-2026 | 2628000 | &nbsp;&nbsp; 2593785 |
| Ashtead Capital, Inc.144A | 4.38 | &nbsp;&nbsp; 8-15-2027 | 2850000 | &nbsp;&nbsp; 2845008 |
| Global Payments, Inc. | 4.50 | &nbsp;&nbsp; 11-15-2028 | 6600000 | &nbsp;&nbsp; 6615180 |
| Global Payments, Inc. | 4.80 | &nbsp;&nbsp; 4-1-2026 | 6305000 | &nbsp;&nbsp; 6307402 |
| Quanta Services, Inc. | 4.75 | &nbsp;&nbsp; 8-9-2027 | 6505000 | &nbsp;&nbsp; 6575722 |
|  |  |  |  | &nbsp;&nbsp; **24937097** |
| **Cosmetics/Personal Care: 0.24%** |  |  |  |  |
| &nbsp;&nbsp; Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International <br> U.S. LLC144A<br>| 4.75 | &nbsp;&nbsp; 1-15-2029 | 4500000 | &nbsp;&nbsp; **4425992** |
| **Food: 0.28%** |  |  |  |  |
| Mars, Inc.144A | 4.45 | &nbsp;&nbsp; 3-1-2027 | 5000000 | &nbsp;&nbsp; **5040884** |
| **Healthcare-products: 0.55%** |  |  |  |  |
| Abbott Laboratories%% | 3.70 | &nbsp;&nbsp; 3-9-2029 | 5000000 | &nbsp;&nbsp; 4999708 |
| Medline Borrower LP144A | 3.88 | &nbsp;&nbsp; 4-1-2029 | 5000000 | &nbsp;&nbsp; 4917557 |
|  |  |  |  | &nbsp;&nbsp; **9917265** |
| **Healthcare-services: 0.17%** |  |  |  |  |
| UnitedHealth Group, Inc. | 4.40 | &nbsp;&nbsp; 6-15-2028 | 3000000 | &nbsp;&nbsp; **3037430** |
| **Pharmaceuticals: 1.38%** |  |  |  |  |
| AbbVie, Inc.%% | 3.78 | &nbsp;&nbsp; 3-3-2028 | 6750000 | &nbsp;&nbsp; 6758935 |
| Bayer U.S. Finance LLC144A | 6.13 | &nbsp;&nbsp; 11-21-2026 | 2500000 | &nbsp;&nbsp; 2532376 |
| Cencora, Inc. | 3.95 | &nbsp;&nbsp; 2-13-2029 | 6500000 | &nbsp;&nbsp; 6502759 |
| Cencora, Inc. | 4.63 | &nbsp;&nbsp; 12-15-2027 | 3140000 | &nbsp;&nbsp; 3179270 |
| EMD Finance LLC144A | 4.13 | &nbsp;&nbsp; 8-15-2028 | 3180000 | &nbsp;&nbsp; 3195648 |
| Pfizer, Inc. | 3.88 | &nbsp;&nbsp; 11-15-2027 | 3000000 | &nbsp;&nbsp; 3014441 |
|  |  |  |  | &nbsp;&nbsp; **25183429** |
| **Energy: 0.41%** |  |  |  |  |
| **Oil & gas: 0.38%** |  |  |  |  |
| ConocoPhillips Co. | 4.40 | &nbsp;&nbsp; 7-15-2027 | 6805000 | &nbsp;&nbsp; **6855995** |
| **Oil & gas services: 0.03%** |  |  |  |  |
| Cal Dive I-Title XI, Inc. | 4.93 | &nbsp;&nbsp; 2-1-2027 | 622529 | &nbsp;&nbsp; **622095** |
| **Financial: 11.08%** |  |  |  |  |
| **Banks: 5.61%** |  |  |  |  |
| Bank of America Corp. (U.S. SOFR+0.83%)± | 4.98 | &nbsp;&nbsp; 1-24-2029 | 5000000 | &nbsp;&nbsp; 5089330 |
| Bank of America Corp. (U.S. SOFR+1.11%)± | 4.62 | &nbsp;&nbsp; 5-9-2029 | 7000000 | &nbsp;&nbsp; 7099352 |
| Bank of New York Mellon (U.S. SOFR+1.14%)± | 4.73 | &nbsp;&nbsp; 4-20-2029 | 4740000 | &nbsp;&nbsp; 4820864 |

---

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

14 \| Allspring Ultra Short-Term Income Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Banks**(continued) |  |  |  |  |
| Citibank NA | 4.58<br> %<br>| &nbsp;&nbsp; 5-29-2027 | $5000000 | &nbsp;&nbsp; $5043954 |
| Citigroup, Inc. (U.S. SOFR+0.87%)± | 4.79 | &nbsp;&nbsp; 3-4-2029 | 5000000 | &nbsp;&nbsp; 5075155 |
| Fifth Third Bank NA (U.S. SOFR+0.81%)± | 4.97 | &nbsp;&nbsp; 1-28-2028 | 3000000 | &nbsp;&nbsp; 3025657 |
| Goldman Sachs Group, Inc. (U.S. SOFR+0.90%)± | 4.15 | &nbsp;&nbsp; 10-21-2029 | 7000000 | &nbsp;&nbsp; 7002194 |
| Goldman Sachs Group, Inc. (U.S. SOFR 3 Month+1.56%)± | 4.22 | &nbsp;&nbsp; 5-1-2029 | 8160000 | &nbsp;&nbsp; 8184133 |
| HSBC USA, Inc. | 4.65 | &nbsp;&nbsp; 6-3-2028 | 5600000 | &nbsp;&nbsp; 5694421 |
| JPMorgan Chase & Co. (U.S. SOFR+0.86%)± | 4.51 | &nbsp;&nbsp; 10-22-2028 | 2000000 | &nbsp;&nbsp; 2017579 |
| JPMorgan Chase & Co. (U.S. SOFR 3 Month+1.38%)± | 4.01 | &nbsp;&nbsp; 4-23-2029 | 7650000 | &nbsp;&nbsp; 7649502 |
| Morgan Stanley Bank NA (U.S. SOFR+0.87%)± | 5.50 | &nbsp;&nbsp; 5-26-2028 | 3600000 | &nbsp;&nbsp; 3664582 |
| Morgan Stanley Bank NA (U.S. SOFR+0.91%)± | 5.02 | &nbsp;&nbsp; 1-12-2029 | 5000000 | &nbsp;&nbsp; 5096328 |
| Morgan Stanley (U.S. SOFR+1.38%)± | 4.99 | &nbsp;&nbsp; 4-12-2029 | 7735000 | &nbsp;&nbsp; 7875964 |
| National Securities Clearing Corp.144A | 4.35 | &nbsp;&nbsp; 5-20-2027 | 5000000 | &nbsp;&nbsp; 5038964 |
| PNC Financial Services Group, Inc. (U.S. SOFR+0.61%)± | 4.08 | &nbsp;&nbsp; 1-26-2029 | 3150000 | &nbsp;&nbsp; 3159446 |
| U.S. Bancorp (U.S. SOFR+1.88%)± | 6.79 | &nbsp;&nbsp; 10-26-2027 | 7000000 | &nbsp;&nbsp; 7131149 |
| Wells Fargo & Co. (U.S. SOFR+1.37%)± | 4.97 | &nbsp;&nbsp; 4-23-2029 | 6180000 | &nbsp;&nbsp; 6300606 |
| Wells Fargo & Co. Series W (U.S. SOFR+0.78%)± | 4.90 | &nbsp;&nbsp; 1-24-2028 | 3000000 | &nbsp;&nbsp; 3023663 |
|  |  |  |  | &nbsp;&nbsp; **101992843** |
| **Diversified financial services: 1.23%** |  |  |  |  |
| Atlas Warehouse Lending Co. LP144A | 4.63 | &nbsp;&nbsp; 11-15-2028 | 5000000 | &nbsp;&nbsp; 5000115 |
| Citadel Finance LLC144A | 3.38 | &nbsp;&nbsp; 3-9-2026 | 3000000 | &nbsp;&nbsp; 2999240 |
| Citadel Finance LLC144A | 4.75 | &nbsp;&nbsp; 2-14-2029 | 7000000 | &nbsp;&nbsp; 6966995 |
| Equitable America Global Funding144A | 4.30 | &nbsp;&nbsp; 12-15-2028 | 5200000 | &nbsp;&nbsp; 5226347 |
| Western Union Co.%% | 4.75 | &nbsp;&nbsp; 6-15-2029 | 2190000 | &nbsp;&nbsp; 2195072 |
|  |  |  |  | &nbsp;&nbsp; **22387769** |
| **Insurance: 1.96%** |  |  |  |  |
| Brown & Brown, Inc. | 4.70 | &nbsp;&nbsp; 6-23-2028 | 3000000 | &nbsp;&nbsp; 3028370 |
| Corebridge Global Funding144A | 4.25 | &nbsp;&nbsp; 8-21-2028 | 3210000 | &nbsp;&nbsp; 3219935 |
| Lincoln Financial Global Funding144A | 4.20 | &nbsp;&nbsp; 1-12-2029 | 5500000 | &nbsp;&nbsp; 5485107 |
| Metropolitan Life Global Funding I144A | 5.05 | &nbsp;&nbsp; 6-11-2027 | 5000000 | &nbsp;&nbsp; 5078903 |
| Northwestern Mutual Global Funding144A | 4.13 | &nbsp;&nbsp; 8-25-2028 | 5000000 | &nbsp;&nbsp; 5033125 |
| RGA Global Funding144A | 4.35 | &nbsp;&nbsp; 8-25-2028 | 7000000 | &nbsp;&nbsp; 7035489 |
| SiriusPoint Ltd. | 7.00 | &nbsp;&nbsp; 4-5-2029 | 6500000 | &nbsp;&nbsp; 6835423 |
|  |  |  |  | &nbsp;&nbsp; **35716352** |
| **Investment Companies: 1.12%** |  |  |  |  |
| Ares Capital Corp. BDC | 2.15 | &nbsp;&nbsp; 7-15-2026 | 5000000 | &nbsp;&nbsp; 4953308 |
| Ares Strategic Income Fund BDC144A | 4.85 | &nbsp;&nbsp; 1-15-2029 | 3800000 | &nbsp;&nbsp; 3740605 |
| Blackstone Secured Lending Fund BDC | 2.13 | &nbsp;&nbsp; 2-15-2027 | 790000 | &nbsp;&nbsp; 769747 |
| Blackstone Secured Lending Fund BDC | 2.75 | &nbsp;&nbsp; 9-16-2026 | 2891000 | &nbsp;&nbsp; 2858943 |
| Blue Owl Capital Corp. BDC | 2.63 | &nbsp;&nbsp; 1-15-2027 | 5270000 | &nbsp;&nbsp; 5137000 |
| HPS Corporate Lending Fund BDC144A | 4.90 | &nbsp;&nbsp; 9-11-2028 | 3000000 | &nbsp;&nbsp; 2959862 |
|  |  |  |  | &nbsp;&nbsp; **20419465** |
| **REITs: 1.16%** |  |  |  |  |
| American Tower Trust #1144A | 5.49 | &nbsp;&nbsp; 3-15-2028 | 1670000 | &nbsp;&nbsp; 1702483 |
| EPR Properties | 4.75 | &nbsp;&nbsp; 12-15-2026 | 3000000 | &nbsp;&nbsp; 3009046 |

---

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

Allspring Ultra Short-Term Income Fund \| 15

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **REITs**(continued) |  |  |  |  |
| SBA Tower Trust144A | 6.60<br> %<br>| &nbsp;&nbsp; 1-15-2028 | $5099000 | &nbsp;&nbsp; $5204866 |
| Tanger Properties LP | 3.13 | &nbsp;&nbsp; 9-1-2026 | 6975000 | &nbsp;&nbsp; 6934425 |
| WEA Finance LLC144A | 4.13 | &nbsp;&nbsp; 9-20-2028 | 4185000 | &nbsp;&nbsp; 4168877 |
|  |  |  |  | &nbsp;&nbsp; **21019697** |
| **Industrial: 2.34%** |  |  |  |  |
| **Aerospace/defense: 0.56%** |  |  |  |  |
| Boeing Co. | 6.26 | &nbsp;&nbsp; 5-1-2027 | 5000000 | &nbsp;&nbsp; 5122189 |
| Howmet Aerospace, Inc.%% | 3.75 | &nbsp;&nbsp; 3-3-2028 | 5000000 | &nbsp;&nbsp; 4994266 |
|  |  |  |  | &nbsp;&nbsp; **10116455** |
| **Electrical components & equipment: 0.28%** |  |  |  |  |
| Molex Electronic Technologies LLC144A | 4.75 | &nbsp;&nbsp; 4-30-2028 | 5000000 | &nbsp;&nbsp; **5068106** |
| **Electronics: 0.25%** |  |  |  |  |
| Jabil, Inc. | 4.20 | &nbsp;&nbsp; 2-1-2029 | 4500000 | &nbsp;&nbsp; **4508413** |
| **Engineering & construction: 0.03%** |  |  |  |  |
| MasTec, Inc.144A | 4.50 | &nbsp;&nbsp; 8-15-2028 | 600000 | &nbsp;&nbsp; **599747** |
| **Miscellaneous manufacturing: 0.28%** |  |  |  |  |
| Entegris, Inc.144A | 4.75 | &nbsp;&nbsp; 4-15-2029 | 5000000 | &nbsp;&nbsp; **5004155** |
| **Packaging & containers: 0.39%** |  |  |  |  |
| Amcor Flexibles North America, Inc. | 4.80 | &nbsp;&nbsp; 3-17-2028 | 7000000 | &nbsp;&nbsp; **7129103** |
| **Trucking & leasing: 0.55%** |  |  |  |  |
| GATX Corp. | 5.40 | &nbsp;&nbsp; 3-15-2027 | 5000000 | &nbsp;&nbsp; 5070543 |
| Penske Truck Leasing Co. LP/PTL Finance Corp.144A | 5.75 | &nbsp;&nbsp; 5-24-2026 | 5000000 | &nbsp;&nbsp; 5011826 |
|  |  |  |  | &nbsp;&nbsp; **10082369** |
| **Technology: 2.36%** |  |  |  |  |
| **Computers: 0.98%** |  |  |  |  |
| Dell International LLC/EMC Corp. | 4.15 | &nbsp;&nbsp; 2-15-2029 | 5000000 | &nbsp;&nbsp; 5017895 |
| Hewlett Packard Enterprise Co. | 4.45 | &nbsp;&nbsp; 9-25-2026 | 7000000 | &nbsp;&nbsp; 7020625 |
| Kyndryl Holdings, Inc. | 2.05 | &nbsp;&nbsp; 10-15-2026 | 5919000 | &nbsp;&nbsp; 5827630 |
|  |  |  |  | &nbsp;&nbsp; **17866150** |
| **Semiconductors: 0.30%** |  |  |  |  |
| Intel Corp. | 3.75 | &nbsp;&nbsp; 8-5-2027 | 5407000 | &nbsp;&nbsp; **5389443** |
| **Software: 1.08%** |  |  |  |  |
| Cadence Design Systems, Inc. | 4.20 | &nbsp;&nbsp; 9-10-2027 | 3000000 | &nbsp;&nbsp; 3014653 |
| Oracle Corp. | 2.80 | &nbsp;&nbsp; 4-1-2027 | 5000000 | &nbsp;&nbsp; 4926415 |
| Oracle Corp. | 4.55 | &nbsp;&nbsp; 2-4-2029 | 6750000 | &nbsp;&nbsp; 6762810 |
| Synopsys, Inc. | 4.55 | &nbsp;&nbsp; 4-1-2027 | 5000000 | &nbsp;&nbsp; 5037328 |
|  |  |  |  | &nbsp;&nbsp; **19741206** |

---

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

16 \| Allspring Ultra Short-Term Income Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Utilities: 4.11%** |  |  |  |  |
| **Electric: 4.11%** |  |  |  |  |
| Alliant Energy Finance LLC144A | 5.40<br> %<br>| &nbsp;&nbsp; 6-6-2027 | $5610000 | &nbsp;&nbsp; $5682784 |
| Centerpoint Energy Restoration Bond Co. III LLC Series A-1 | 3.90 | &nbsp;&nbsp; 12-15-2030 | 20000000 | &nbsp;&nbsp; 20032400 |
| Dominion Energy, Inc. | 4.60 | &nbsp;&nbsp; 5-15-2028 | 5000000 | &nbsp;&nbsp; 5072004 |
| Emera U.S. Finance LP | 3.55 | &nbsp;&nbsp; 6-15-2026 | 4695000 | &nbsp;&nbsp; 4685487 |
| National Rural Utilities Cooperative Finance Corp. | 4.75 | &nbsp;&nbsp; 2-7-2028 | 5000000 | &nbsp;&nbsp; 5085249 |
| NextEra Energy Capital Holdings, Inc. | 4.69 | &nbsp;&nbsp; 9-1-2027 | 7000000 | &nbsp;&nbsp; 7079378 |
| Pacific Gas & Electric Co. | 6.10 | &nbsp;&nbsp; 1-15-2029 | 5000000 | &nbsp;&nbsp; 5251201 |
| PacifiCorp | 4.25 | &nbsp;&nbsp; 3-15-2029 | 3500000 | &nbsp;&nbsp; 3523696 |
| Southern California Edison Co. | 5.15 | &nbsp;&nbsp; 6-1-2029 | 4805000 | &nbsp;&nbsp; 4942966 |
| Southern California Edison Co. | 5.35 | &nbsp;&nbsp; 3-1-2026 | 5000000 | &nbsp;&nbsp; 5000000 |
| Vistra Operations Co. LLC144A | 3.70 | &nbsp;&nbsp; 1-30-2027 | 6195000 | &nbsp;&nbsp; 6166379 |
| Vistra Operations Co. LLC144A | 4.30 | &nbsp;&nbsp; 10-15-2028 | 2175000 | &nbsp;&nbsp; 2177242 |
|  |  |  |  | &nbsp;&nbsp; **74698786** |
| **Total corporate bonds and notes (Cost $544,638,642)** |  |  |  | &nbsp;&nbsp; **548337531** |

---

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

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Investment companies: 8.77%** |  |  |
| **Exchange-traded funds: 8.77%** |  |  |
| iShares 0-5 Year High Yield Corporate Bond ETF | 431613 | &nbsp;&nbsp; 18455772 |
| JPMorgan Limited Duration Bond ETF | 875285 | &nbsp;&nbsp; 46171284 |
| State Street SPDR Portfolio Short Term Corporate Bond ETF | 991735 | &nbsp;&nbsp; 30069405 |
| Vanguard Short-Term Corporate Bond ETF | 250909 | &nbsp;&nbsp; 20122902 |
| Vanguard Ultra Short Bond ETF | 892730 | &nbsp;&nbsp; 44645427 |
| **Total investment companies (Cost $159,908,168)** |  | &nbsp;&nbsp; **159464790** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  |  | Principal |  |
| **Municipal obligations: 0.05%** |  |  |  |  |
| **Indiana: 0.05%** |  |  |  |  |
| **Education revenue: 0.05%** |  |  |  |  |
| &nbsp;&nbsp; Indiana Secondary Market for Education Loans, Inc. (U.S. SOFR 1 <br> Month+0.80%)±<br>| 4.59 | &nbsp;&nbsp; 2-25-2044 | $883653 | &nbsp;&nbsp; **884041** |
| **Total municipal obligations (Cost $876,576)** |  |  |  | &nbsp;&nbsp; **884041** |
| **Non-agency mortgage-backed securities: 8.08%** |  |  |  |  |
| &nbsp;&nbsp; 1345 Trust Series 2025-AOA Class A (U.S. SOFR 1 <br> Month+1.60%)144A±<br>| 5.26 | &nbsp;&nbsp; 6-15-2042 | 3000000 | &nbsp;&nbsp; 3006297 |
| A&D Mortgage Trust Series 2024-NQM5 Class A1144A | 5.70 | &nbsp;&nbsp; 11-25-2069 | 3459260 | &nbsp;&nbsp; 3488730 |
| A&D Mortgage Trust Series 2026-NQM1 Class A1144A±± | 4.91 | &nbsp;&nbsp; 2-25-2071 | 2265942 | &nbsp;&nbsp; 2269977 |
| Angel Oak Mortgage Trust Series 2020-4 Class A1144A±± | 1.47 | &nbsp;&nbsp; 6-25-2065 | 279645 | &nbsp;&nbsp; 271769 |
| Angel Oak Mortgage Trust Series 2020-5 Class A2144A±± | 1.58 | &nbsp;&nbsp; 5-25-2065 | 220892 | &nbsp;&nbsp; 214421 |
| Angel Oak Mortgage Trust Series 2020-R1 Class A1144A±± | 0.99 | &nbsp;&nbsp; 4-25-2053 | 1167102 | &nbsp;&nbsp; 1125378 |
| Angel Oak Mortgage Trust Series 2024-8 Class A1144A±± | 5.34 | &nbsp;&nbsp; 5-27-2069 | 664307 | &nbsp;&nbsp; 668127 |
| &nbsp;&nbsp; BRAVO Residential Funding Trust Series 2020-RPL1 <br> Class A1144A±±<br>| 2.50 | &nbsp;&nbsp; 5-26-2059 | 226004 | &nbsp;&nbsp; 223305 |
| &nbsp;&nbsp; BRAVO Residential Funding Trust Series 2023-NQM1 <br> Class A1144A±±<br>| 5.76 | &nbsp;&nbsp; 1-25-2063 | 670682 | &nbsp;&nbsp; 668710 |

---

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

Allspring Ultra Short-Term Income Fund \| 17

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities**(continued) |  |  |  |  |
| Bunker Hill Loan Depositary Trust Series 2019-2 Class A1144A±± | 2.88<br> %<br>| &nbsp;&nbsp; 7-25-2049 | $322467 | &nbsp;&nbsp; $318276 |
| &nbsp;&nbsp; BX Commercial Mortgage Trust Series 2026-CSMO Class A <br> (U.S. SOFR 1 Month+1.40%)144A±<br>| 5.07 | &nbsp;&nbsp; 2-15-2042 | 4000000 | &nbsp;&nbsp; 4000000 |
| &nbsp;&nbsp; BX Trust Series 2025-VLT6 Class B (U.S. SOFR 1 <br> Month+1.89%)144A±<br>| 5.55 | &nbsp;&nbsp; 3-15-2042 | 5005000 | &nbsp;&nbsp; 4989359 |
| &nbsp;&nbsp; BX Trust Series 2025-VOLT Class B (U.S. SOFR 1 <br> Month+2.10%)144A±<br>| 5.76 | &nbsp;&nbsp; 12-15-2044 | 4950000 | &nbsp;&nbsp; 4959260 |
| CFCRE Commercial Mortgage Trust Series 2016-C4 Class A4 | 3.28 | &nbsp;&nbsp; 5-10-2058 | 550147 | &nbsp;&nbsp; 548777 |
| CHL Mortgage Pass-Through Trust Series 2001-HYB1 Class 2A1±± | 5.68 | &nbsp;&nbsp; 6-19-2031 | 28558 | &nbsp;&nbsp; 28286 |
| CHL Mortgage Pass-Through Trust Series 2001-HYB1 Class 1A1±± | 5.75 | &nbsp;&nbsp; 6-19-2031 | 46976 | &nbsp;&nbsp; 46674 |
| CHNGE Mortgage Trust Series 2022-2 Class A1144A±± | 4.76 | &nbsp;&nbsp; 3-25-2067 | 8957338 | &nbsp;&nbsp; 8936232 |
| COLT Mortgage Loan Trust Series 2021-HX1 Class A1144A±± | 1.11 | &nbsp;&nbsp; 10-25-2066 | 8438234 | &nbsp;&nbsp; 7426197 |
| COLT Pass-Through Certificates Series 2021-1R Class A1144A±± | 0.86 | &nbsp;&nbsp; 5-25-2065 | 1476732 | &nbsp;&nbsp; 1361658 |
| CSAIL Commercial Mortgage Trust Series 2018-CX12 Class A2 | 4.14 | &nbsp;&nbsp; 8-15-2051 | 527532 | &nbsp;&nbsp; 526224 |
| CSMC Trust Series 2020-AFC1 Class A3144A±± | 3.51 | &nbsp;&nbsp; 2-25-2050 | 908320 | &nbsp;&nbsp; 877431 |
| CSMC Trust Series 2021-NQM2 Class A1144A±± | 1.18 | &nbsp;&nbsp; 2-25-2066 | 2845164 | &nbsp;&nbsp; 2586465 |
| CSMC Trust Series 2022-NQM1 Class A1144A±± | 3.27 | &nbsp;&nbsp; 11-25-2066 | 5003353 | &nbsp;&nbsp; 4666950 |
| Ellington Financial Mortgage Trust Series 2021-1 Class A1144A±± | 0.80 | &nbsp;&nbsp; 2-25-2066 | 457644 | &nbsp;&nbsp; 406415 |
| &nbsp;&nbsp; Finance of America Structured Securities Trust Series 2022-S6 <br> Class A1144A<br>| 3.00 | &nbsp;&nbsp; 7-25-2061 | 3619750 | &nbsp;&nbsp; 3657983 |
| &nbsp;&nbsp; Finance of America Structured Securities Trust Series 2025-S1 <br> Class A1144A<br>| 3.50 | &nbsp;&nbsp; 2-25-2075 | 3906273 | &nbsp;&nbsp; 3812281 |
| &nbsp;&nbsp; FS Trust Series 2026-ORL Class B (U.S. SOFR 1 <br> Month+1.55%)144A±<br>| 5.22 | &nbsp;&nbsp; 2-15-2041 | 1521000 | &nbsp;&nbsp; 1521000 |
| GCAT Trust Series 2022-HX1 Class A1144A±± | 2.89 | &nbsp;&nbsp; 12-27-2066 | 9725486 | &nbsp;&nbsp; 9144525 |
| &nbsp;&nbsp; GS Mortgage Securities Corp. Trust Series 2018-LUAU Class A <br> (U.S. SOFR 1 Month+1.30%)144A±<br>| 4.96 | &nbsp;&nbsp; 11-15-2032 | 2660721 | &nbsp;&nbsp; 2640766 |
| &nbsp;&nbsp; GS Mortgage-Backed Securities Trust Series 2020-NQM1 <br> Class A1144A±±<br>| 1.38 | &nbsp;&nbsp; 9-27-2060 | 525007 | &nbsp;&nbsp; 503045 |
| &nbsp;&nbsp; GS Mortgage-Backed Securities Trust Series 2024-HE1 Class A1 (30 <br> Day Average U.S. SOFR+1.60%)144A±<br>| 5.27 | &nbsp;&nbsp; 8-25-2054 | 4093472 | &nbsp;&nbsp; 4109829 |
| &nbsp;&nbsp; GSJP Trust Series 2025-BEDS Class A (U.S. SOFR 1 <br> Month+1.50%)144A±<br>| 5.16 | &nbsp;&nbsp; 12-15-2042 | 1120000 | &nbsp;&nbsp; 1118877 |
| &nbsp;&nbsp; GSJP Trust Series 2025-BEDS Class B (U.S. SOFR 1 <br> Month+1.75%)144A±<br>| 5.41 | &nbsp;&nbsp; 12-15-2042 | 2165000 | &nbsp;&nbsp; 2162845 |
| GSMPS Mortgage Loan Trust Series 1998-1 Class A144A±± | 8.00 | &nbsp;&nbsp; 9-19-2027 | 18660 | &nbsp;&nbsp; 18353 |
| &nbsp;&nbsp; HAVN Trust Series 2025-MOB Class A (U.S. SOFR 1 <br> Month+1.70%)144A±<br>| 5.36 | &nbsp;&nbsp; 10-15-2035 | 1775000 | &nbsp;&nbsp; 1771672 |
| Imperial Fund Mortgage Trust Series 2020-NQM1 Class A1144A±± | 1.38 | &nbsp;&nbsp; 10-25-2055 | 1159556 | &nbsp;&nbsp; 1108297 |
| Imperial Fund Mortgage Trust Series 2021-NQM1 Class A1144A±± | 1.07 | &nbsp;&nbsp; 6-25-2056 | 1304832 | &nbsp;&nbsp; 1184780 |
| Imperial Fund Mortgage Trust Series 2021-NQM3 Class A1144A±± | 1.60 | &nbsp;&nbsp; 11-25-2056 | 2906833 | &nbsp;&nbsp; 2553072 |
| Imperial Fund Mortgage Trust Series 2022-NQM3 Class A1144A±± | 4.38 | &nbsp;&nbsp; 5-25-2067 | 9576899 | &nbsp;&nbsp; 9545847 |
| JPMorgan Mortgage Trust Series 2025-4 Class A4A144A±± | 5.50 | &nbsp;&nbsp; 11-25-2055 | 4676556 | &nbsp;&nbsp; 4738719 |
| JPMorgan Mortgage Trust Series 2025-7MPR Class A1D144A±± | 5.32 | &nbsp;&nbsp; 2-25-2056 | 1664031 | &nbsp;&nbsp; 1673723 |
| Legacy Mortgage Asset Trust Series 2020-RPL1 Class A1144A±± | 3.00 | &nbsp;&nbsp; 9-25-2059 | 4785419 | &nbsp;&nbsp; 4627100 |
| &nbsp;&nbsp; MASTR Adjustable Rate Mortgages Trust Series 2002-3 <br> Class 4A1±±<br>| 6.62 | &nbsp;&nbsp; 10-25-2032 | 1260 | &nbsp;&nbsp; 1251 |
| MFA Trust Series 2020-NQM1 Class A1144A±± | 2.48 | &nbsp;&nbsp; 3-25-2065 | 376051 | &nbsp;&nbsp; 367666 |
| MFA Trust Series 2020-NQM3 Class A1144A±± | 1.01 | &nbsp;&nbsp; 1-26-2065 | 531272 | &nbsp;&nbsp; 510325 |

---

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

18 \| Allspring Ultra Short-Term Income Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities**(continued) |  |  |  |  |
| MFA Trust Series 2021-NQM1 Class A1144A±± | 1.15<br> %<br>| &nbsp;&nbsp; 4-25-2065 | $1772402 | &nbsp;&nbsp; $1674514 |
| &nbsp;&nbsp; New Residential Mortgage Loan Trust Series 2021-INV1 <br> Class A6144A±±<br>| 2.50 | &nbsp;&nbsp; 6-25-2051 | 4228272 | &nbsp;&nbsp; 3891334 |
| NYMT Loan Trust Series 2025-INV2 Class A1144A±± | 5.00 | &nbsp;&nbsp; 10-25-2060 | 4922771 | &nbsp;&nbsp; 4954267 |
| OBX Trust Series 2020-EXP1 Class 1A8144A±± | 3.50 | &nbsp;&nbsp; 2-25-2060 | 487374 | &nbsp;&nbsp; 449031 |
| OBX Trust Series 2021-NQM3 Class A1144A±± | 1.05 | &nbsp;&nbsp; 7-25-2061 | 3039561 | &nbsp;&nbsp; 2600434 |
| Residential Mortgage Loan Trust Series 2021-1R Class A1144A±± | 0.86 | &nbsp;&nbsp; 1-25-2065 | 808164 | &nbsp;&nbsp; 786527 |
| &nbsp;&nbsp; SPGN Trust Series 2026-TFLM Class A (U.S. SOFR 1 <br> Month+1.30%)144A±<br>| 5.00 | &nbsp;&nbsp; 2-15-2041 | 2000000 | &nbsp;&nbsp; 1996875 |
| &nbsp;&nbsp; Starwood Mortgage Residential Trust Series 2020-1 <br> Class A3144A±±<br>| 2.56 | &nbsp;&nbsp; 2-25-2050 | 1939582 | &nbsp;&nbsp; 1873633 |
| &nbsp;&nbsp; Starwood Mortgage Residential Trust Series 2021-2 <br> Class A1144A±±<br>| 0.94 | &nbsp;&nbsp; 5-25-2065 | 1196097 | &nbsp;&nbsp; 1142758 |
| Towd Point Mortgage Trust Series 2017-4 Class A1144A±± | 2.75 | &nbsp;&nbsp; 6-25-2057 | 318797 | &nbsp;&nbsp; 313933 |
| Towd Point Mortgage Trust Series 2017-6 Class A1144A±± | 2.75 | &nbsp;&nbsp; 10-25-2057 | 283146 | &nbsp;&nbsp; 279855 |
| Towd Point Mortgage Trust Series 2018-2 Class A1144A±± | 3.25 | &nbsp;&nbsp; 3-25-2058 | 338714 | &nbsp;&nbsp; 336172 |
| Towd Point Mortgage Trust Series 2018-3 Class A1144A±± | 3.75 | &nbsp;&nbsp; 5-25-2058 | 1686629 | &nbsp;&nbsp; 1665717 |
| TRK Trust Series 2021-INV2 Class A1144A±± | 1.97 | &nbsp;&nbsp; 11-25-2056 | 7912828 | &nbsp;&nbsp; 7282707 |
| Verus Securitization Trust Series 2021-1 Class A2144A±± | 1.05 | &nbsp;&nbsp; 1-25-2066 | 1875365 | &nbsp;&nbsp; 1732132 |
| Verus Securitization Trust Series 2021-2 Class A1144A±± | 1.03 | &nbsp;&nbsp; 2-25-2066 | 1128042 | &nbsp;&nbsp; 1042127 |
| Verus Securitization Trust Series 2021-R3 Class A1144A±± | 1.02 | &nbsp;&nbsp; 4-25-2064 | 1549001 | &nbsp;&nbsp; 1488626 |
| &nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust Series 2025-NYCH Class A <br> (U.S. SOFR 1 Month+1.74%)144A±<br>| 5.40 | &nbsp;&nbsp; 6-15-2042 | 3000000 | &nbsp;&nbsp; 2988750 |
| Wilshire Funding Corp. Series 1996-3 Class M2±± | 7.69 | &nbsp;&nbsp; 8-25-2032 | 69894 | &nbsp;&nbsp; 70311 |
| Wilshire Funding Corp. Series 1996-3 Class M3±± | 7.69 | &nbsp;&nbsp; 8-25-2032 | 22855 | &nbsp;&nbsp; 19962 |
| &nbsp;&nbsp; Wilshire Funding Corp. Series 1998-WFC2 Class M1 (12 Month <br> Treasury Average+2.00%)±<br>| 6.03 | &nbsp;&nbsp; 12-28-2037 | 23664 | &nbsp;&nbsp; 23562 |
| **Total non-agency mortgage-backed securities (Cost $152,295,816)** |  |  |  | &nbsp;&nbsp; **147000101** |
| **U.S. Treasury securities: 7.21%** |  |  |  |  |
| U.S. Treasury Notes## | 3.75 | &nbsp;&nbsp; 8-31-2026 | 95925000 | &nbsp;&nbsp; 95960223 |
| U.S. Treasury Notes | 4.50 | &nbsp;&nbsp; 7-15-2026 | 35000000 | &nbsp;&nbsp; 35108226 |
| **Total U.S. Treasury securities (Cost $131,090,881)** |  |  |  | &nbsp;&nbsp; **131068449** |
| **Yankee corporate bonds and notes: 7.15%** |  |  |  |  |
| **Basic materials: 0.04%** |  |  |  |  |
| **Chemicals: 0.04%** |  |  |  |  |
| Braskem Netherlands Finance BV144A | 4.50 | &nbsp;&nbsp; 1-10-2028 | 1875000 | &nbsp;&nbsp; **847375** |
| **Consumer, cyclical: 0.54%** |  |  |  |  |
| **Leisure time: 0.54%** |  |  |  |  |
| Carnival Corp.144A | 7.00 | &nbsp;&nbsp; 8-15-2029 | 6070000 | &nbsp;&nbsp; 6352547 |
| Royal Caribbean Cruises Ltd.144A | 5.38 | &nbsp;&nbsp; 7-15-2027 | 3400000 | &nbsp;&nbsp; 3425937 |
|  |  |  |  | &nbsp;&nbsp; **9778484** |
| **Consumer, non-cyclical: 0.72%** |  |  |  |  |
| **Beverages: 0.19%** |  |  |  |  |
| Coca-Cola Icecek AS144A | 4.50 | &nbsp;&nbsp; 1-20-2029 | 3500000 | &nbsp;&nbsp; **3461521** |

---

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

Allspring Ultra Short-Term Income Fund \| 19

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Household products/wares: 0.36%** |  |  |  |  |
| Reckitt Benckiser Treasury Services PLC144A | 3.00<br> %<br>| &nbsp;&nbsp; 6-26-2027 | $6570000 | &nbsp;&nbsp; **$6505210** |
| **Pharmaceuticals: 0.17%** |  |  |  |  |
| Teva Pharmaceutical Finance Netherlands III BV | 6.75 | &nbsp;&nbsp; 3-1-2028 | 3000000 | &nbsp;&nbsp; **3112914** |
| **Financial: 5.04%** |  |  |  |  |
| **Banks: 3.81%** |  |  |  |  |
| Barclays PLC (U.S. SOFR+0.93%)± | 4.22 | &nbsp;&nbsp; 5-24-2030 | 6150000 | &nbsp;&nbsp; 6151345 |
| Barclays PLC (U.S. SOFR+0.96%)± | 5.09 | &nbsp;&nbsp; 2-25-2029 | 6255000 | &nbsp;&nbsp; 6372457 |
| Canadian Imperial Bank of Commerce (U.S. SOFR+0.79%)± | 4.28 | &nbsp;&nbsp; 1-29-2030 | 4750000 | &nbsp;&nbsp; 4781913 |
| &nbsp;&nbsp; Lloyds Banking Group PLC (1 Year Treasury Constant <br> Maturity+0.60%)±<br>| 4.24 | &nbsp;&nbsp; 2-10-2030 | 3400000 | &nbsp;&nbsp; 3415736 |
| Macquarie Bank Ltd.144A | 5.27 | &nbsp;&nbsp; 7-2-2027 | 5000000 | &nbsp;&nbsp; 5104502 |
| National Australia Bank Ltd. | 4.50 | &nbsp;&nbsp; 10-26-2027 | 7000000 | &nbsp;&nbsp; 7096195 |
| National Bank of Canada (U.S. SOFR+0.76%)± | 4.17 | &nbsp;&nbsp; 1-20-2029 | 3000000 | &nbsp;&nbsp; 3010806 |
| National Bank of Canada (U.S. SOFR+0.80%)± | 4.95 | &nbsp;&nbsp; 2-1-2028 | 4000000 | &nbsp;&nbsp; 4035380 |
| NatWest Markets PLC144A | 5.42 | &nbsp;&nbsp; 5-17-2027 | 5000000 | &nbsp;&nbsp; 5094026 |
| Skandinaviska Enskilda Banken AB144A | 4.38 | &nbsp;&nbsp; 6-2-2028 | 7000000 | &nbsp;&nbsp; 7083437 |
| Sumitomo Mitsui Financial Group, Inc. | 4.11 | &nbsp;&nbsp; 1-15-2029 | 5000000 | &nbsp;&nbsp; 5021452 |
| UBS Group AG (1 Year Treasury Constant Maturity+1.60%)144A± | 6.33 | &nbsp;&nbsp; 12-22-2027 | 7000000 | &nbsp;&nbsp; 7129738 |
| UBS Group AG (U.S. SOFR+0.84%)144A± | 4.21 | &nbsp;&nbsp; 4-10-2030 | 5000000 | &nbsp;&nbsp; 5008894 |
|  |  |  |  | &nbsp;&nbsp; **69305881** |
| **Diversified financial services: 0.91%** |  |  |  |  |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust | 4.88 | &nbsp;&nbsp; 4-1-2028 | 5000000 | &nbsp;&nbsp; 5083869 |
| Avolon Holdings Funding Ltd.144A | 4.95 | &nbsp;&nbsp; 1-15-2028 | 6100000 | &nbsp;&nbsp; 6181014 |
| Global Aircraft Leasing Co. Ltd.144A | 8.75 | &nbsp;&nbsp; 9-1-2027 | 5000000 | &nbsp;&nbsp; 5153760 |
|  |  |  |  | &nbsp;&nbsp; **16418643** |
| **Real estate: 0.32%** |  |  |  |  |
| Ontario Teachers' Cadillac Fairview Properties Trust144A | 3.88 | &nbsp;&nbsp; 3-20-2027 | 5875000 | &nbsp;&nbsp; **5871483** |
| **Government securities: 0.33%** |  |  |  |  |
| **Multi-national: 0.33%** |  |  |  |  |
| Banque Ouest Africaine de Developpement144A | 5.00 | &nbsp;&nbsp; 7-27-2027 | 6000000 | &nbsp;&nbsp; **5989853** |
| **Industrial: 0.12%** |  |  |  |  |
| **Electronics: 0.12%** |  |  |  |  |
| Flex Ltd. | 6.00 | &nbsp;&nbsp; 1-15-2028 | 2085000 | &nbsp;&nbsp; **2153697** |
| **Utilities: 0.36%** |  |  |  |  |
| **Electric: 0.36%** |  |  |  |  |
| Emera, Inc. Series 16-A (U.S. SOFR 3 Month+5.44%)± | 6.75 | &nbsp;&nbsp; 6-15-2076 | 1500000 | &nbsp;&nbsp; 1507511 |
| Enel Finance International NV144A | 4.13 | &nbsp;&nbsp; 9-30-2028 | 5000000 | &nbsp;&nbsp; 5010637 |
|  |  |  |  | &nbsp;&nbsp; **6518148** |
| **Total yankee corporate bonds and notes (Cost $129,684,530)** |  |  |  | &nbsp;&nbsp; **129963209** |

---

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

20 \| Allspring Ultra Short-Term Income Fund

------

Portfolio of investments—February 28, 2026 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Yankee government bonds: 0.55%** |  |  |  |  |
| **Panama: 0.27%** |  |  |  |  |
| Panama | 3.88<br> %<br>| &nbsp;&nbsp; 3-17-2028 | $5000000 | &nbsp;&nbsp; **$4941000** |
| **Saudi Arabia: 0.28%** |  |  |  |  |
| Saudi144A | 4.13 | &nbsp;&nbsp; 1-12-2029 | 5000000 | &nbsp;&nbsp; **5019996** |
| **Total yankee government bonds (Cost $9,808,713)** |  |  |  | &nbsp;&nbsp; **9960996** |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  | Yield | Shares |  |
| **Short-term investments: 9.27%** |  |  |  |
| **Investment companies: 0.38%** |  |  |  |
| Allspring Government Money Market Fund Select Class♠∞## | 3.62 | 6929053 | &nbsp;&nbsp; **6929053** |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  |  | Principal |  |
| **U.S. Treasury securities: 8.89%** |  |  |  |  |  |
| U.S. Treasury Bills☼ |  | 2.88 | &nbsp;&nbsp; 3-10-2026 | $44000000 | &nbsp;&nbsp; 43964539 |
| U.S. Treasury Bills☼ |  | 3.43 | &nbsp;&nbsp; 4-2-2026 | 37000000 | &nbsp;&nbsp; 36884503 |
| U.S. Treasury Bills☼ |  | 3.43 | &nbsp;&nbsp; 4-7-2026 | 44000000 | &nbsp;&nbsp; 43840335 |
| U.S. Treasury Bills☼ |  | 3.48 | &nbsp;&nbsp; 4-14-2026 | 37000000 | &nbsp;&nbsp; 36839574 |
|  |  |  |  |  | &nbsp;&nbsp; **161528951** |
| **Total short-term investments (Cost $168,459,140)** |  |  |  |  | &nbsp;&nbsp; **168458004** |
| **Total investments in securities (Cost $1,794,015,837)** | 98.65<br> %<br>|  |  |  | &nbsp;&nbsp; 1793618448 |
| Other assets and liabilities, net | 1.35 |  |  |  | &nbsp;&nbsp; 24587830 |
| **Total net assets** | **100.00%**<br>|  |  |  | &nbsp;&nbsp; **$1818206278** |

---

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

---

| | |
|:---|:---|
| ± | Variable rate investment. The rate shown is the rate in effect at period end. |
| ƒ | Investment in an interest-only security that entitles holders to receive only the interest payments on the underlying mortgages. The principal amount shown is the <br> notional amount of the underlying mortgages. The rate represents the coupon rate.<br>|
| ±± | The coupon of the security is adjusted based on the principal and/or interest payments received from the underlying pool of mortgages as well as the credit quality <br> and the actual prepayment speed of the underlying mortgages. The rate shown is the rate in effect at period end.<br>|
| 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>|
| ♦ | The security is fair valued in accordance with procedures approved by Allspring Funds Management, LLC. |
| ‡ | Security is valued using significant unobservable inputs. |
| %% | The security is purchased on a when-issued basis. |
| ## | All or a portion of this security is segregated as collateral for when-issued securities. |
| ♠ | The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
| ∞ | The rate represents the 7-day annualized yield at period end. |
| ☼ | Zero coupon security. The rate represents the current yield to maturity. |

---

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

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| BDC | Business Development Company |
| CLO | Collateralized loan obligation |
| COFI | Cost of Funds Index |
| FHLMC | Federal Home Loan Mortgage Corporation |
| FNMA | Federal National Mortgage Association |
| GNMA | Government National Mortgage Association |
| REIT | Real estate investment trust |
| RFUCCT1Y | Refinitiv USD IBOR Consumer Cash Fallbacks Term 1-year |
| RFUCCT1M | Refinitiv USD IBOR Consumer Cash Fallbacks Term 1-month |
| RFUCCT6M | Refinitiv USD IBOR Consumer Cash Fallbacks Term 6-month |
| SOFR | Secured Overnight Financing Rate |
| STRIPS | Separate trading of registered interest and principal of securities |

---

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

Allspring Ultra Short-Term Income Fund \| 21

------

Portfolio of investments—February 28, 2026 (unaudited)

**Investments in affiliates**

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| Allspring Government Money Market Fund <br> Select Class<br>| $59651786 | $1034485773 | $(1087208506)<br>| $0 | $0 | $6929053 | 6929053 | $1427451 |

---

**Futures contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | Number of <br>contracts<br>| Expiration <br>date<br>| Notional <br>cost<br>| Notional <br>value<br>| Unrealized <br>gains<br>| Unrealized <br>losses<br>|
| **Short** |  |  |  |  |  |  |
| 10-Year U.S. Treasury Notes | &nbsp;&nbsp; (342)<br>| &nbsp;&nbsp; 6-18-2026 | &nbsp;&nbsp; $(38736249)<br>| &nbsp;&nbsp; $(38923875)<br>| &nbsp;&nbsp; $0 | &nbsp;&nbsp; $(187626)<br>|
| 2-Year U.S. Treasury Notes | &nbsp;&nbsp; (1307)<br>| &nbsp;&nbsp; 6-30-2026 | &nbsp;&nbsp; (273109706)<br>| &nbsp;&nbsp; (273520384)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (410678)<br>|
| 5-Year U.S. Treasury Notes | &nbsp;&nbsp; (407)<br>| &nbsp;&nbsp; 6-30-2026 | &nbsp;&nbsp; (44673950)<br>| &nbsp;&nbsp; (44827234)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (153284)<br>|
|  |  |  |  |  | &nbsp;&nbsp; **$0** | &nbsp;&nbsp; **$(751588)**<br>|

---

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

22 \| Allspring Ultra Short-Term Income Fund

------

Statement of assets and liabilities—February 28, 2026 (unaudited)

Financial statements

Statement of assets and liabilities

---

| | |
|:---|:---|
| Assets |  |
| Investments in unaffiliated securities, at value (cost $1,787,086,784) | $1786689395 |
| Investments in affiliated securities, at value (cost $6,929,053) | 6929053 |
| Cash | 6220657 |
| Cash at broker segregated for futures contracts | 2979000 |
| Receivable for investments sold | 29969903 |
| Receivable for interest | 11276920 |
| Receivable for Fund shares sold | 3398215 |
| Principal paydown receivable | 175635 |
| Prepaid expenses and other assets | 66092 |
| **Total assets** | **1847704870** |
| Liabilities |  |
| Payable for investments purchased | 23919226 |
| Payable for Fund shares redeemed | 3214621 |
| Dividends payable | 1223291 |
| Payable for daily variation margin on open futures contracts | 652929 |
| Management fee payable | 187871 |
| Administration fees payable | 137120 |
| Shareholder servicing fees payable | 67018 |
| Trustees' fees and expenses payable | 246 |
| Accrued expenses and other liabilities | 96270 |
| **Total liabilities** | **29498592** |
| **Total net assets**  | **$1818206278** |
| Net assets consist of |  |
| Paid-in capital | $1847035589 |
| Total distributable loss | (28829311)<br>|
| **Total net assets** | **$1818206278** |
| Computation of net asset value and offering price per share |  |
| Net assets–Class A | $221297893 |
| Shares outstanding–Class A<sup>1</sup> <br>| 24920836 |
| Net asset value per share–Class A | $8.88 |
| Maximum offering price per share – Class A<sup>2</sup> <br>| $9.06 |
| Net assets–Class A2 | $180944893 |
| Shares outstanding–Class A2<sup>1</sup> <br>| 20390279 |
| Net asset value per share–Class A2 | $8.87 |
| Net assets–Institutional Class | $1415963492 |
| Shares outstanding–Institutional Class<sup>1</sup> <br>| 159556216 |
| Net asset value per share–Institutional Class | $8.87 |

---

<sup>1</sup> The Fund has an unlimited number of authorized shares.

<sup>2</sup> Maximum offering price is computed as 100/98 of net asset value. On investments of $100,000 or more, the offering price is reduced.

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

Allspring Ultra Short-Term Income Fund \| 23

------

Statement of operations—six months ended February 28, 2026 (unaudited)

Statement of operations

---

| | |
|:---|:---|
| Investment income |  |
| Interest | $32053812 |
| Income from affiliated securities | 1427451 |
| Dividends | 466586 |
| **Total investment income** | **33947849** |
| Expenses |  |
| Management fee | 1808496 |
| Administration fees |  |
| Class A | 162087 |
| Class A2 | 109589 |
| Class C | 1550 <br><sup>1</sup><br>|
| Administrator Class | 513 <br><sup>2</sup><br>|
| Institutional Class | 452768 |
| Shareholder servicing fees |  |
| Class A | 268936 |
| Class A2 | 106405 |
| Class C | 2564 <br><sup>1</sup><br>|
| Administrator Class | 1269 <br><sup>2</sup><br>|
| Distribution fee |  |
| Class C | 7691 <br><sup>1</sup><br>|
| Custody and accounting fees | 28398 |
| Professional fees | 49773 |
| Registration fees | 37390 |
| Shareholder report expenses | 32539 |
| Trustees' fees and expenses | 8498 |
| Other fees and expenses | 20634 |
| **Total expenses** | **3099100** |
| Less: Fee waivers and/or expense reimbursements |  |
| Fund-level | (705963)<br>|
| Class A | (143608)<br>|
| Class A2 | (50925)<br>|
| Institutional Class | (10)<br>|
| **Net expenses** | **2198594** |
| **Net investment income** | **31749255** |

---

<sup>1</sup> For the period from September 1, 2025 to November 14, 2025. Effective at the close of business on November 14, 2025, Class C shares were converted to Class A shares and are no longer offered by the Fund.

<sup>2</sup> For the period from September 1, 2025 to September 12, 2025. Effective at the close of business on September 12, 2025, Administrator Class shares were converted to Institutional Class shares and are no longer offered by the Fund.

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

24 \| Allspring Ultra Short-Term Income Fund

------

Statement of operations—six months ended February 28, 2026 (unaudited)

Statement of operations

---

| | |
|:---|:---|
| Realized and unrealized gains (losses) on investments |  |
| Net realized gains (losses) on |  |
| Unaffiliated securities | $651722 |
| Futures contracts | (443466)<br>|
| **Net realized gains on investments**  | **208256** |
| Net change in unrealized gains (losses) on |  |
| Unaffiliated securities | 2650301 |
| Futures contracts | (449602)<br>|
| **Net change in unrealized gains (losses) on investments** | **2200699** |
| **Net realized and unrealized gains (losses) on investments** | **2408955** |
| **Net increase in net assets resulting from operations** | **$34158210** |

---

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

Allspring Ultra Short-Term Income Fund \| 25

------

Statement of changes in net assets

Statement of changes in net assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six months ended<br> February 28, 2026<br> (unaudited) | Six months ended<br> February 28, 2026<br> (unaudited) | Year ended<br> August 31, 2025 | Year ended<br> August 31, 2025 |
| Operations |  |  |  |  |
| Net investment income |  | &nbsp;&nbsp; $31749255 |  | &nbsp;&nbsp; $54104674 |
| Net realized gains on investments |  | &nbsp;&nbsp; 208256 |  | &nbsp;&nbsp; 3378596 |
| Net change in unrealized gains (losses) on investments |  | &nbsp;&nbsp; 2200699 |  | &nbsp;&nbsp; 7321507 |
| **Net increase in net assets resulting from operations** |  | &nbsp;&nbsp; **34158210** |  | &nbsp;&nbsp; **64804777** |
| Distributions to shareholders from |  |  |  |  |
| Net investment income and net realized gains |  |  |  |  |
| Class A |  | &nbsp;&nbsp; (4454878)<br>|  | &nbsp;&nbsp; (7094337)<br>|
| Class A2 |  | &nbsp;&nbsp; (3020778)<br>|  | &nbsp;&nbsp; (2805815)<br>|
| Class C |  | &nbsp;&nbsp; (35489 )<sup>1</sup><br>|  | &nbsp;&nbsp; (135237)<br>|
| Administrator Class |  | &nbsp;&nbsp; (22322 )<sup>2</sup><br>|  | &nbsp;&nbsp; (544949)<br>|
| Institutional Class |  | &nbsp;&nbsp; (24425689)<br>|  | &nbsp;&nbsp; (43408864)<br>|
| **Total distributions to shareholders** |  | &nbsp;&nbsp; **(31959156)**<br>|  | &nbsp;&nbsp; **(53989202)**<br>|
| Capital share transactions | Shares |  | &nbsp;&nbsp; Shares |  |
| Proceeds from shares sold |  |  |  |  |
| Class A | 2784022 | &nbsp;&nbsp; 24705169 | &nbsp;&nbsp; 2410004 | &nbsp;&nbsp; 21278067 |
| Class A2 | 15826020 | &nbsp;&nbsp; 140320257 | &nbsp;&nbsp; 8959492 | &nbsp;&nbsp; 79103585 |
| Class C | 29804 <br><sup>1</sup><br>| &nbsp;&nbsp; 264285 <br><sup>1</sup><br>| &nbsp;&nbsp; 218060 | &nbsp;&nbsp; 1924262 |
| Administrator Class | 539 <br><sup>2</sup><br>| &nbsp;&nbsp; 4760 <br><sup>2</sup><br>| &nbsp;&nbsp; 490939 | &nbsp;&nbsp; 4307978 |
| Institutional Class | 84105764 | &nbsp;&nbsp; 746177121 | &nbsp;&nbsp; 60998102 | &nbsp;&nbsp; 538029420 |
|  |  | &nbsp;&nbsp; 911471592 |  | &nbsp;&nbsp; 644643312 |
| Reinvestment of distributions |  |  |  |  |
| Class A | 456028 | &nbsp;&nbsp; 4046414 | &nbsp;&nbsp; 730429 | &nbsp;&nbsp; 6452088 |
| Class A2 | 339223 | &nbsp;&nbsp; 3008198 | &nbsp;&nbsp; 316098 | &nbsp;&nbsp; 2789966 |
| Class C | 2724 <br><sup>1</sup><br>| &nbsp;&nbsp; 24133 <br><sup>1</sup><br>| &nbsp;&nbsp; 13131 | &nbsp;&nbsp; 115853 |
| Administrator Class | 0 <br><sup>2</sup><br>| &nbsp;&nbsp; 0 <br><sup>2</sup><br>| &nbsp;&nbsp; 61688 | &nbsp;&nbsp; 542471 |
| Institutional Class | 2140661 | &nbsp;&nbsp; 18980882 | &nbsp;&nbsp; 3314739 | &nbsp;&nbsp; 29254437 |
|  |  | &nbsp;&nbsp; 26059627 |  | &nbsp;&nbsp; 39154815 |
| Payment for shares redeemed |  |  |  |  |
| Class A | (2709978)<br>| &nbsp;&nbsp; (24048425)<br>| &nbsp;&nbsp; (5290680)<br>| &nbsp;&nbsp; (46700657)<br>|
| Class A2 | (7141880)<br>| &nbsp;&nbsp; (63376242)<br>| &nbsp;&nbsp; (3351270)<br>| &nbsp;&nbsp; (29572175)<br>|
| Class C | (62666 )<sup>1</sup><br>| &nbsp;&nbsp; (555199 )<sup>1</sup><br>| &nbsp;&nbsp; (215965)<br>| &nbsp;&nbsp; (1904106)<br>|
| Administrator Class | (1367 )<sup>2</sup><br>| &nbsp;&nbsp; (12072 )<sup>2</sup><br>| &nbsp;&nbsp; (295086)<br>| &nbsp;&nbsp; (2593883)<br>|
| Institutional Class | (49960266)<br>| &nbsp;&nbsp; (443031342)<br>| &nbsp;&nbsp; (59912407)<br>| &nbsp;&nbsp; (528511368)<br>|
|  |  | &nbsp;&nbsp; (531023280)<br>|  | &nbsp;&nbsp; (609282189)<br>|
| Net asset value of shares issued in acquisition |  |  |  |  |
| Class A | 0 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 6728059 | &nbsp;&nbsp; 59528745 |
| Class C | 0 <br><sup>1</sup><br>| &nbsp;&nbsp; 0 <br><sup>1</sup><br>| &nbsp;&nbsp; 117436 | &nbsp;&nbsp; 1037902 |
| Administrator Class | 0 <br><sup>2</sup><br>| &nbsp;&nbsp; 0 <br><sup>2</sup><br>| &nbsp;&nbsp; 97352 | &nbsp;&nbsp; 860725 |
| Institutional Class | 0 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 13323527 | &nbsp;&nbsp; 117798400 |
|  |  | &nbsp;&nbsp; 0 |  | &nbsp;&nbsp; 179225772 |

---

<sup>1</sup> For the period from September 1, 2025 to November 14, 2025

<sup>2</sup> For the period from September 1, 2025 to September 12, 2025

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

26 \| Allspring Ultra Short-Term Income Fund

------

Statement of changes in net assets

Statement of changes in net assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six months ended<br> February 28, 2026<br> (unaudited) | Six months ended<br> February 28, 2026<br> (unaudited) | Year ended<br> August 31, 2025 | Year ended<br> August 31, 2025 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares |  | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares |  |
| Share conversions |  |  |  |  |
| Class A | 540952 | &nbsp;&nbsp; $4794564 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; $0 |
| Class C | (541526 )<sup>3</sup><br>| &nbsp;&nbsp; (4794564 )<sup>3</sup><br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| Administrator Class | (1631129 )<sup>4</sup><br>| &nbsp;&nbsp; (14405644 )<sup>4</sup><br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| Institutional Class | 1624727 | &nbsp;&nbsp; 14405644 | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp; 0 |  | &nbsp;&nbsp; 0 |
| **Net increase in net assets resulting from capital share transactions** |  | &nbsp;&nbsp; **406507939** |  | &nbsp;&nbsp; **253741710** |
| **Total increase in net assets** |  | &nbsp;&nbsp; **408706993** |  | &nbsp;&nbsp; **264557285** |
| Net assets |  |  |  |  |
| **Beginning of period** |  | &nbsp;&nbsp; **1409499285** |  | &nbsp;&nbsp; **1144942000** |
| **End of period** |  | &nbsp;&nbsp; **$1818206278** |  | &nbsp;&nbsp; **$1409499285** |

---

<sup>3</sup> Effective at the close of business on November 14, 2025, Class C shares were converted to Class A shares and are no longer offered by the Fund.

<sup>4</sup> Effective at the close of business on September 12, 2025, Administrator Class shares were converted to Institutional Class shares and are no longer offered by the Fund.

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

Allspring Ultra Short-Term Income Fund \| 27

------

Financial highlights

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Class A | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$8.87** | &nbsp;&nbsp; **$8.79** | &nbsp;&nbsp; **$8.56** | &nbsp;&nbsp; **$8.41** | &nbsp;&nbsp; **$8.61** | &nbsp;&nbsp; **$8.60** |
| Net investment income | 0.18 <br><sup>1</sup><br>| 0.38 <br><sup>1</sup><br>| 0.34 <br><sup>1</sup><br>| 0.22 | 0.07 | 0.07 |
| Net realized and unrealized gains (losses) on investments | 0.01 | 0.08 | 0.23 | 0.15 | &nbsp;&nbsp; (0.20)<br>| 0.01 |
| Total from investment operations | 0.19 | 0.46 | 0.57 | 0.37 | &nbsp;&nbsp; (0.13)<br>| 0.08 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.18)<br>| &nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp; (0.34)<br>| &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.07)<br>|
| **Net asset value, end of period** | **$8.88** | &nbsp;&nbsp; **$8.87** | &nbsp;&nbsp; **$8.79** | &nbsp;&nbsp; **$8.56** | &nbsp;&nbsp; **$8.41** | &nbsp;&nbsp; **$8.61** |
| **Total return**<sup>2</sup> <br>| **2.18%**<br>| **5.32%** <br>| **6.77%**<br>| **4.50%**<br>| &nbsp;&nbsp; **(1.51)%**<br>| **0.99%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.66<br> %<br>| 0.67<br> %<br>| 0.68<br> %<br>| 0.68<br> %<br>| 0.65<br> %<br>| 0.66<br> %<br>|
| Net expenses | 0.44<br> %<br>| 0.47<br> %<br>| 0.50<br> %<br>| 0.50<br> %<br>| 0.49<br> %<br>| 0.49<br> %<br>|
| Net investment income | 4.07<br> %<br>| 4.32<br> %<br>| 3.91<br> %<br>| 2.61<br> %<br>| 0.79<br> %<br>| 0.84<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 26<br> %<br>| &nbsp;&nbsp; 56<br> %<br>| &nbsp;&nbsp; 48<br> %<br>| &nbsp;&nbsp; 25<br> %<br>| &nbsp;&nbsp; 77<br> %<br>| &nbsp;&nbsp; 106<br> %<br>|
| Net assets, end of period (000s omitted) | $221298 | &nbsp;&nbsp; $211476 | &nbsp;&nbsp; $169378 | &nbsp;&nbsp; $174660 | &nbsp;&nbsp; $244894 | &nbsp;&nbsp; $287697 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding

<sup>2</sup> Total return calculations do not include any sales charges. Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. 

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

28 \| Allspring Ultra Short-Term Income Fund

------

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Class A2 | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$8.86** | &nbsp;&nbsp; **$8.78** | &nbsp;&nbsp; **$8.55** | &nbsp;&nbsp; **$8.40** | &nbsp;&nbsp; **$8.60** | &nbsp;&nbsp; **$8.59** |
| Net investment income | 0.18 <br><sup>1</sup><br>| 0.39 <br><sup>1</sup><br>| 0.35 <br><sup>1</sup><br>| 0.23 | 0.07 | 0.07 |
| Net realized and unrealized gains (losses) on investments | 0.01 | 0.07 | 0.23 | 0.15 | &nbsp;&nbsp; (0.20)<br>| 0.01 |
| Total from investment operations | 0.19 | 0.46 | 0.58 | 0.38 | &nbsp;&nbsp; (0.13)<br>| 0.08 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.18)<br>| &nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.07)<br>|
| **Net asset value, end of period** | **$8.87** | &nbsp;&nbsp; **$8.86** | &nbsp;&nbsp; **$8.78** | &nbsp;&nbsp; **$8.55** | &nbsp;&nbsp; **$8.40** | &nbsp;&nbsp; **$8.60** |
| **Total return**<sup>2</sup> <br>| **2.20%**<br>| **5.40%**<br>| **6.88%**<br>| **4.61%**<br>| &nbsp;&nbsp; **(1.49)%**<br>| **0.97%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.56<br> %<br>| 0.57<br> %<br>| 0.58<br> %<br>| 0.58<br> %<br>| 0.62<br> %<br>| 0.65<br> %<br>|
| Net expenses | 0.40<br> %<br>| 0.40<br> %<br>| 0.40<br> %<br>| 0.40<br> %<br>| 0.47<br> %<br>| 0.50<br> %<br>|
| Net investment income | 4.10<br> %<br>| 4.39<br> %<br>| 4.01<br> %<br>| 2.63<br> %<br>| 0.75<br> %<br>| 0.73<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 26<br> %<br>| &nbsp;&nbsp; 56<br> %<br>| &nbsp;&nbsp; 48<br> %<br>| &nbsp;&nbsp; 25<br> %<br>| &nbsp;&nbsp; 77<br> %<br>| &nbsp;&nbsp; 106<br> %<br>|
| Net assets, end of period (000s omitted) | $180945 | &nbsp;&nbsp; $100717 | &nbsp;&nbsp; $47801 | &nbsp;&nbsp; $48414 | &nbsp;&nbsp; $99902 | &nbsp;&nbsp; $181131 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding

<sup>2</sup> Total return calculations do not include any sales charges. Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized. 

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

Allspring Ultra Short-Term Income Fund \| 29

------

Financial highlights

(For a share outstanding throughout each period)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six months ended <br>February 28, 2026 <br>(unaudited) | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 | Year ended August 31 |
| Institutional Class | Six months ended <br>February 28, 2026 <br>(unaudited) | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Net asset value, beginning of period** | **$8.86** | &nbsp;&nbsp; **$8.78** | &nbsp;&nbsp; **$8.55** | &nbsp;&nbsp; **$8.40** | &nbsp;&nbsp; **$8.60** | &nbsp;&nbsp; **$8.59** |
| Net investment income | 0.19 <br><sup>1</sup><br>| 0.40 <br><sup>1</sup><br>| 0.36 <br><sup>1</sup><br>| 0.24 | 0.09 | 0.09 |
| Net realized and unrealized gains (losses) on investments | 0.01 | 0.08 | 0.23 | 0.15 | &nbsp;&nbsp; (0.20)<br>| 0.02 |
| Total from investment operations | 0.20 | 0.48 | 0.59 | 0.39 | &nbsp;&nbsp; (0.11)<br>| 0.11 |
| **Distributions to shareholders from** |  |  |  |  |  |  |
| Net investment income | (0.19)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; (0.10)<br>|
| **Net asset value, end of period** | **$8.87** | &nbsp;&nbsp; **$8.86** | &nbsp;&nbsp; **$8.78** | &nbsp;&nbsp; **$8.55** | &nbsp;&nbsp; **$8.40** | &nbsp;&nbsp; **$8.60** |
| **Total return**<sup>2</sup> <br>| **2.27%**<br>| **5.56%**<br>| **7.04%**<br>| **4.76%**<br>| &nbsp;&nbsp; **(1.28)%**<br>| **1.23%**<br>|
| **Ratios to average net assets (annualized)** |  |  |  |  |  |  |
| Gross expenses | 0.34<br> %<br>| 0.35<br> %<br>| 0.36<br> %<br>| 0.35<br> %<br>| 0.32<br> %<br>| 0.33<br> %<br>|
| Net expenses | 0.25<br> %<br>| 0.25<br> %<br>| 0.25<br> %<br>| 0.25<br> %<br>| 0.25<br> %<br>| 0.25<br> %<br>|
| Net investment income | 4.27<br> %<br>| 4.54<br> %<br>| 4.14<br> %<br>| 2.83<br> %<br>| 1.01<br> %<br>| 1.03<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Portfolio turnover rate | 26<br> %<br>| &nbsp;&nbsp; 56<br> %<br>| &nbsp;&nbsp; 48<br> %<br>| &nbsp;&nbsp; 25<br> %<br>| &nbsp;&nbsp; 77<br> %<br>| &nbsp;&nbsp; 106<br> %<br>|
| Net assets, end of period (000s omitted) | $1415963 | &nbsp;&nbsp; $1077839 | &nbsp;&nbsp; $912737 | &nbsp;&nbsp; $1189143 | &nbsp;&nbsp; $1857572 | &nbsp;&nbsp; $2706735 |

---

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

<sup>1</sup> Calculated based upon average shares outstanding <br> <sup>2</sup> Returns include adjustments required by U.S. GAAP and may differ from net asset values and performance reported elsewhere. Returns for periods of less than one year are not annualized.

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

30 \| Allspring Ultra Short-Term Income Fund

------

Notes to financial statements (unaudited)

Notes to financial statements

1. ORGANIZATION

Allspring Funds Trust (the "Trust"), a Delaware statutory trust organized on March 10, 1999, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act"). As an investment company, the Trust follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services* – *Investment Companies*. These financial statements report on the Allspring Ultra Short-Term Income Fund (the "Fund") which is a diversified series of the Trust.

Effective at the close of business on September 12, 2025, Administrator Class shares were converted to Institutional Class shares in a tax-free conversion. Shareholders of Administrator Class received Institutional Class shares at a value equal to the value of their Administrator Class shares immediately prior to the conversion. Administrator Class shares are no longer offered by the Fund. Additionally, effective at the close of business on November 14, 2025, Class C shares were converted to Class A shares in a tax-free conversion. Shareholders of Class C received Class A shares at a value equal to the value of their Class C shares immediately prior to the conversion. Class C shares are no longer offered by the Fund.

2. SIGNIFICANT ACCOUNTING POLICIES

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

Securities valuation

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

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

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

Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.

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

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.

Futures contracts

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

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

Allspring Ultra Short-Term Income Fund \| 31

------

Notes to financial statements (unaudited)

Mortgage dollar roll transactions

The Fund may engage in mortgage dollar roll transactions through To Be Announced (TBA) mortgage-backed securities issued by Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC). In a mortgage dollar roll transaction, the Fund sells a mortgage-backed security to a financial institution, such as a bank or broker-dealer and simultaneously agrees to repurchase a substantially similar security from the institution at a later date at an agreed upon price. The mortgage-backed securities that are repurchased will bear the same interest rate as those sold, but generally will be collateralized by different pools of mortgages with different pre-payment histories. During the roll period, the Fund foregoes principal and interest paid on the securities. The Fund is compensated by the difference between the current sales price and the forward price for the future purchase as well as by the earnings on the cash proceeds of the initial sale. Mortgage dollar rolls may be renewed without physical delivery of the securities subject to the contract. The Fund accounts for TBA dollar roll transactions as purchases and sales which, as a result, may increase its portfolio turnover rate.

Security transactions and income recognition

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

Interest income is accrued daily and bond discounts are accreted and premiums are amortized daily. To the extent debt obligations are placed on non-accrual status, any related interest income may be reduced by writing off interest receivables when the collection of all or a portion of interest has been determined to be doubtful based on consistently applied procedures and the fair value has decreased. If the issuer subsequently resumes interest payments or when the collectability of interest is reasonably assured, the debt obligation is removed from non-accrual status. Paydown gains and losses are included in interest income.

Dividend income is recognized on the ex-dividend date.

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

Income is recorded net of foreign taxes withheld where recovery of such taxes is not assured.

Income dividends and capital gain distributions from investment companies are recorded on the ex-dividend date. Capital gain distributions from investment companies are treated as realized gains.

Distributions to shareholders

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

Federal and other taxes

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

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

As of February 28, 2026, the aggregate cost of all investments for federal income tax purposes was $1,794,092,070 and the unrealized gains (losses) consisted of:

---

| | |
|:---|:---|
| Gross unrealized gains | &nbsp;&nbsp; $8481939 |
| Gross unrealized losses | &nbsp;&nbsp; (9707149)<br>|
| **Net unrealized losses** | &nbsp;&nbsp; **$(1225210)**<br>|

---

As of August 31, 2025, the Fund had capital loss carryforwards which consisted of $27,721,676 in long-term capital losses.

Class allocations

The separate classes of shares offered by the Fund differ principally in applicable sales charges, distribution, shareholder servicing, and administration fees. Class specific expenses are charged directly to that share class. Investment income, common fund-level expenses, and realized and unrealized gains (losses) on investments are allocated daily to each class of shares based on the relative proportion of net assets of each class.&nbsp;&nbsp;&nbsp;&nbsp;

32 \| Allspring Ultra Short-Term Income Fund

------

Notes to financial statements (unaudited)

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

3. FAIR VALUATION MEASUREMENTS

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

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

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

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

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

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Agency securities** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $68390611 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $68390611 |
| **Asset-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 428699883 | &nbsp;&nbsp;&nbsp; 1390833 | &nbsp;&nbsp;&nbsp; 430090716 |
| **Corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 548337531 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 548337531 |
| **Investment companies** | &nbsp;&nbsp; 159464790 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 159464790 |
| **Municipal obligations** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 884041 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 884041 |
| **Non-agency mortgage-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 147000101 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 147000101 |
| **U.S. Treasury securities** | &nbsp;&nbsp; 131068449 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 131068449 |
| **Yankee corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 129963209 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 129963209 |
| **Yankee government bonds** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 9960996 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 9960996 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 6929053 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 6929053 |
| *U.S. Treasury securities* | &nbsp;&nbsp; 161528951 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 161528951 |
| **Total assets** | &nbsp;&nbsp; **$458991243** | &nbsp;&nbsp;&nbsp; **$1333236372** | &nbsp;&nbsp;&nbsp; **$1390833** | &nbsp;&nbsp;&nbsp; **$1793618448** |
| **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** |
| **Futures contracts** | &nbsp;&nbsp; $751588 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $751588 |
| **Total liabilities** | &nbsp;&nbsp; **$751588** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$751588** |

---

Futures contracts are reported at their cumulative unrealized gains (losses) at measurement date as reported in the table following the Portfolio of investments. For futures contracts, the current day's variation margin is reported on the Statement of assets and liabilities. All other assets and liabilities are reported at their market value at measurement date.

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

At February 28, 2026, the Fund did not have any transfers into/out of Level 3.

4. TRANSACTIONS WITH AFFILIATES

Management fee

Allspring Funds Management, a wholly owned subsidiary of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P., is the manager of the Fund and provides advisory and fund-level administrative services under an investment management agreement. Under the investment management agreement, Allspring Funds Management is responsible for, among other services, implementing the investment objectives and strategies of the Fund, supervising the subadviser and providing fund-level administrative services in connection with the Fund's operations. As compensation for its services under the investment management agreement, Allspring Funds

Allspring Ultra Short-Term Income Fund \| 33

------

Notes to financial statements (unaudited)

Management is entitled to receive a management fee, which is generally paid monthly, at the following annual rate based on the Fund's average daily net assets:

---

| | |
|:---|:---|
| Average daily net assets | Management fee |
| First $1 billion | 0.250<br> %<br>|
| Next $4 billion | 0.225 |
| Next $5 billion | 0.190 |
| Over $10 billion | 0.180 |

---

For the six months ended February 28, 2026, the management fee was equivalent to an annual rate of 0.24% of the Fund's average daily net assets.

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

Administration fees

Under a class-level administration agreement, Allspring Funds Management provides class-level administrative services to the Fund, which includes paying fees and expenses for services provided by the transfer agent, sub-transfer agents, omnibus account servicers and record-keepers. As compensation for its services under the class-level administration agreement, Allspring Funds Management receives an annual fee which is calculated based on the average daily net assets of each class and generally paid monthly, as follows:

---

| | |
|:---|:---|
|  | Class-level <br>administration fee<br>|
| Class A | 0.15<br> %<br>|
| Class A2 | 0.15 |
| Class C | 0.15 |
| Administrator Class | 0.10 |
| Institutional Class | 0.08 |

---

Waivers and/or expense reimbursements

Allspring Funds Management has contractually committed to waive and/or reimburse management and administration fees to the extent necessary to maintain certain net operating expense ratios for the Fund. When each class of the Fund has exceeded its expense cap, Allspring Funds Management will waive fees and/or reimbursed expenses from fund-level expenses on a proportionate basis and then from class specific expenses. When only certain classes exceed their expense caps, waivers and/or reimbursements are applied against class specific expenses before fund-level expenses. Allspring Funds Management has contractually committed through December 31, 2026 to waive fees and/or reimburse expenses to the extent necessary to cap the Fund's expenses. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. As of February 28, 2026, the contractual caps are as follows:&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | EXPENSE RATIO CAPS |
| Class A | 0.50<br> %<br>|
| Class A2 | 0.40 |
| Institutional Class | 0.25 |

---

Distribution fee

The Trust has adopted a distribution plan for Class C shares pursuant to Rule 12b-1 under the 1940 Act. A distribution fee is charged to Class C shares and paid to Allspring Funds Distributor, LLC ("Allspring Funds Distributor"), the principal underwriter, an affiliate of Allspring Funds Management, at an annual rate up to 0.75% of the average daily net assets of Class C shares. Such fees are generally paid on a monthly basis.

In addition, Allspring Funds Distributor is entitled to receive the front-end sales charge from the purchase of Class A shares and a contingent deferred sales charge on the redemption of certain Class A shares. Allspring Funds Distributor is also entitled to receive the contingent deferred sales charges from redemptions of Class C shares. For the six months ended February 28, 2026, Allspring Funds Distributor received $1,179 from the sale of Class A shares and $5,523 in contingent deferred sales charges from redemptions of Class A shares. No contingent deferred sales charges were incurred by Class C shares for the six months ended February 28, 2026.

Shareholder servicing fees

The Trust has entered into contracts with one or more shareholder servicing agents, whereby Class A, Class C and Administrator Class are charged a fee at an annual rate up to 0.25% of the average daily net assets of each respective class. Class A2 shares are charged a fee at an annual rate up to 0.15% of its average daily net assets. These fees are generally paid on a monthly basis. A portion of these total shareholder servicing fees were paid to affiliates of the Fund.

34 \| Allspring Ultra Short-Term Income Fund

------

Notes to financial statements (unaudited)

Interfund transactions

The Fund may purchase or sell portfolio investment securities to certain affiliates pursuant to Rule 17a-7 under the 1940 Act and under procedures adopted by the Board of Trustees. The procedures have been designed to ensure that these interfund transactions, which do not incur broker commissions, are effected at current market prices. Pursuant to these procedures, the Fund did not have any interfund transactions during the six months ended February 28, 2026.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments, excluding short-term securities, for the six months ended February 28, 2026 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| Purchases at cost | Purchases at cost | Sales Proceeds | Sales Proceeds |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. <br>government<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-U.S. <br>government<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $7984688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $760070267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $124848546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $201513078 |

---

6. DERIVATIVE TRANSACTIONS

During the six months ended February 28, 2026, the Fund entered into futures contracts to speculate on interest rates and to help manage the duration of the portfolio. The Fund had an average notional amount of $261,372,490 in short futures contracts during the six months ended February 28, 2026.

The fair value, realized gains or losses and change in unrealized gains or losses, if any, on derivative instruments are reflected in the corresponding financial statement captions.

7. ACQUISITION

After the close of business on July 25, 2025, the Fund acquired the net assets of Allspring Adjustable Rate Government Fund ("Adjustable Rate Government Fund"). The purpose of the transaction was to combine two funds with similar investment objectives and strategies. Shareholders holding shares of Adjustable Rate Government Fund received Class A, Class C, Administrator Class and Institutional Class shares, respectively, of the Fund in the reorganization. The acquisition was accomplished by a tax-free exchange of all of the shares of Adjustable Rate Government Fund for 20,266,374 shares of the Fund valued at $179,225,772 at an exchange ratio of 1.00, 1.00, 1.00 and 1.00 for Class A, Class C, Administrator Class and Institutional Class shares, respectively. The investment portfolio of Adjustable Rate Government Fund with a fair value of $178,427,103, identified cost of $178,918,211 and unrealized gains (losses) of $(491,108) at July 25, 2025 was the principal assets acquired by the Fund. The aggregate net assets of Adjustable Rate Government Fund and the Fund immediately prior to the acquisition were $179,225,772 and $1,201,980,890, respectively. The aggregate net assets of the Fund immediately after the acquisition were $1,381,206,662. For financial reporting purposes, assets received and shares issued by the Fund were recorded at fair value; however, the cost basis of the investments received from Adjustable Rate Government Fund was carried forward to align with ongoing reporting of the Fund's realized and unrealized gains and losses with amounts distributable to shareholders for tax purposes.

Assuming the acquisition had been completed September 1, 2024, the beginning of the annual reporting period for the Fund, the pro forma results of operations for the year ended August 31, 2025 would have been as follows:

---

| | |
|:---|:---|
| **Net investment income** | &nbsp;&nbsp; $61454259 |
| **Net realized and unrealized gains (losses) on investments** | &nbsp;&nbsp; 8848306 |
| **Net increase in net assets resulting from operations** | &nbsp;&nbsp; $70302565 |

---

Because the combined investment portfolios have been managed as a single integrated portfolio since the acquisition was completed, it is not practicable to separate the amounts of revenue and earnings of the Adjustable Rate Government Fund that have been included in the Fund's Statement of operations since July 26, 2025.

8. BANK BORROWINGS

The Fund, together with certain other registered Allspring Funds is party to a $275,000,000 revolving credit agreement whereby the Fund is permitted to use bank borrowings for temporary or emergency purposes, such as to fund shareholder redemption requests. Interest under the credit agreement is charged to the Fund based on a borrowing rate equal to the higher of the Federal Funds rate or the overnight bank funding rate in effect on that day plus a spread. In addition, an annual commitment fee based on the unused balance is allocated to each participating fund.

For the six months ended February 28, 2026, there were no borrowings by the Fund under the agreement.

9. INDEMNIFICATION

Under the Fund's organizational documents, the officers and Trustees have been granted certain indemnification rights against certain liabilities that may arise out of performance of their duties to the Fund. The Fund has entered into a separate agreement with each Trustee that converts indemnification rights currently existing under the Fund's organizational documents into contractual rights that cannot be changed in the future without

Allspring Ultra Short-Term Income Fund \| 35

------

Notes to financial statements (unaudited)

the consent of the Trustee. Additionally, in the normal course of business, the Fund may enter into contracts with service providers that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is dependent on future claims that may be made against the Fund and, therefore, cannot be estimated.

10. OPERATING SEGMENTS

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

11. NEW ACCOUNTING PRONOUNCEMENT

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

36 \| Allspring Ultra Short-Term Income Fund

------

Other information (unaudited)

Other information

Proxy voting information

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

Quarterly portfolio holdings information

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

Allspring Ultra Short-Term Income Fund \| 37

------

Other information (unaudited)

Item 8. Changes in and disagreements with accountants

Not applicable

Item 9. Matters submitted to fund shareholders for a vote

Not applicable

Item 10. Remuneration paid to directors, officers and others

Refer to information in the Statement of operations.

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

Not applicable

38 \| Allspring Ultra Short-Term Income Fund

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![](g132415img6d3cbfc11.jpg)

For more information

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

Allspring Funds

P.O. Box 219967

Kansas City, MO 64121-9967

Website: **allspringglobal.com**

Individual investors: **1-800-222-8222**

Retail investment professionals: **1-888-877-9275**

Institutional investment professionals: **1-800-260-5969**

![](g132415imgc5bb9dfd2.gif)

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. If this report is used for promotional purposes, distribution of the report must be accompanied or preceded by a current prospectus. Before investing, please consider the investment objectives, risks, charges, and expenses of the investment. For a current prospectus and, if available, a summary prospectus, containing this information, call* ***1-800-222-8222*** *or visit the Fund's website at* ***allspringglobal.com****. Read the prospectus carefully before you invest or send money.*

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

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

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

**NCSRS3006 02-26**

------

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

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

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

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

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

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

------

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

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

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

Not applicable.

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

Not applicable.

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

Not applicable.

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

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

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

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

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

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

Not applicable.

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

Not applicable.

------

<u>ITEM 19. EXHIBITS</u> 

---

| | |
|:---|:---|
| (a)(1) | Not applicable. |
| (a)(2) | Not applicable. |
| (a)(3) | [Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2022.](d132415dex99cert.htm) |
| (a)(4) | Not applicable. |
| (a)(5) | Not applicable. |
| (b) | [Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2022.](d132415dex99906cert.htm) |
| (101) | Inline Interactive Data File - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the inline XBRL document. |

---

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

---

| | |
|:---|:---|
| Allspring Funds Trust | Allspring Funds Trust |
| By: | /s/ John Kenney |
|  | John Kenney |
|  | President (Principal Executive Officer) |
| Date: April 23, 2026 | Date: April 23, 2026 |

---

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

---

| | |
|:---|:---|
| Allspring Funds Trust | Allspring Funds Trust |
| By: | /s/ John Kenney |
|  | John Kenney |
|  | President (Principal Executive Officer) |
| Date: April 23, 2026 | Date: April 23, 2026 |
| By: | /s/Jeremy DePalma |
|  | Jeremy DePalma |
|  | Treasurer (Principal Financial Officer) |
| Date: April 23, 2026 | Date: April 23, 2026 |

---

## Ex-99.Cert

**Exhibit 19(a)(3)**![LOGO](g132415g0425154342900.jpg)

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

I, John Kenney, certify that:

1. I have reviewed this report on Form N-CSRS of Allspring Core Plus Bond Fund, Allspring Government Securities Fund, Allspring High Yield Bond Fund, Allspring Managed Account CoreBuilder<sup>®</sup> Shares - Series CP, Allspring Short Duration Government Bond Fund, Allspring Short-Term Bond Plus Fund, Allspring Short-Term High Income Bond Fund and Allspring Ultra Short-Term Income Fund;

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

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

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

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

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

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

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

------

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

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

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

---

| |
|:---|
| Date: April 23, 2026 |
| /s/ John Kenney |
| John Kenney |
| President (Principal Executive Officer) |
| Allspring Funds Trust |

---

------

![LOGO](g132415g0425154342900.jpg)

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

I, Jeremy DePalma, certify that:

1. I have reviewed this report on Form N-CSRS of Allspring Core Plus Bond Fund, Allspring Government Securities Fund, Allspring High Yield Bond Fund, Allspring Managed Account CoreBuilder<sup>®</sup> Shares - Series CP, Allspring Short Duration Government Bond Fund, Allspring Short-Term Bond Plus Fund, Allspring Short-Term High Income Bond Fund and Allspring Ultra Short-Term Income Fund;

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

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

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

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

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

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

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

------

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

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

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

---

| |
|:---|
| Date: April 23, 2026 |
| /s/ Jeremy DePalma |
| Jeremy DePalma |
| Treasurer (Principal Financial Officer) |
| Allspring Funds Trust |

---

## Exhibit 99.906

**Exhibit 19(b)**![LOGO](g132415g0425154342900.jpg)

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

Pursuant to 18 U.S.C. § 1350, the undersigned officer of Allspring Funds Trust, hereby certifies, to the best of his knowledge, that the registrant's report on Form N-CSRS for the six months ended February 28, 2026 (the "Report") fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant.

Date: April 23, 2026

---

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

---

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

------

![LOGO](g132415g0425154342900.jpg)

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

Pursuant to 18 U.S.C. § 1350, the undersigned officer of Allspring Funds Trust, hereby certifies, to the best of his knowledge, that the registrant's report on Form N-CSRS for the six months ended February 28, 2026 (the "Report") fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant.

Date: April 23, 2026

---

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

---

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