# EDGAR Filing Document

**Accession Number:** 0001087961
**File Stem:** 0001410368-26-032028
**Filing Date:** 2026-3
**Character Count:** 79006
**Document Hash:** dfb60711cd0010ef9c0e52fcfcffb5a8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-032028.hdr.sgml**: 20260326

**ACCESSION NUMBER**: 0001410368-26-032028

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260326

**DATE AS OF CHANGE**: 20260326

**PERIOD START**: 20260430

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09689
- **FILM NUMBER:** 26796827

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

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

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

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

## Series and Classes Contracts Data

### Allspring Small Company Value Portfolio (Series ID: S000007553)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000020611 | Small Company Value Portfolio |  |

## Nport-Ex

Portfolio of investments—January 31, 2026 (unaudited)

Portfolio of investments

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

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Common stocks: 96.87%** |  |  |
| **Communication services: 0.47%** |  |  |
| **Interactive media & services: 0.27%** |  |  |
| &nbsp;&nbsp;&nbsp; Cargurus, Inc.† | 51469 | &nbsp;&nbsp; **$1667595** |
| **Media: 0.20%** |  |  |
| &nbsp;&nbsp;&nbsp; Versant Media Group, Inc.† | 37658 | &nbsp;&nbsp; **1226898** |
| **Consumer discretionary: 10.36%** |  |  |
| **Automobile components: 2.18%** |  |  |
| &nbsp;&nbsp;&nbsp; Dana, Inc. | 166602 | &nbsp;&nbsp; 4814798 |
| &nbsp;&nbsp;&nbsp; Patrick Industries, Inc. | 37736 | &nbsp;&nbsp; 4761151 |
| &nbsp;&nbsp;&nbsp; Strattec Security Corp.† | 50146 | &nbsp;&nbsp; 3967551 |
|  |  | &nbsp;&nbsp; **13543500** |
| **Broadline retail: 0.42%** |  |  |
| &nbsp;&nbsp;&nbsp; Dillard's, Inc. Class A | 3268 | &nbsp;&nbsp; 1985506 |
| &nbsp;&nbsp;&nbsp; Macy's, Inc. | 31084 | &nbsp;&nbsp; 622302 |
|  |  | &nbsp;&nbsp; **2607808** |
| **Distributors: 0.50%** |  |  |
| &nbsp;&nbsp;&nbsp; GigaCloud Technology, Inc. Class A† | 77322 | &nbsp;&nbsp; **3087468** |
| **Diversified consumer services: 1.71%** |  |  |
| &nbsp;&nbsp;&nbsp; Adtalem Global Education, Inc.† | 37770 | &nbsp;&nbsp; 3911084 |
| &nbsp;&nbsp;&nbsp; Carriage Services, Inc. Class A | 69371 | &nbsp;&nbsp; 2976710 |
| &nbsp;&nbsp;&nbsp; Grand Canyon Education, Inc.† | 19619 | &nbsp;&nbsp; 3410567 |
| &nbsp;&nbsp;&nbsp; Stride, Inc.† | 3729 | &nbsp;&nbsp; 315473 |
|  |  | &nbsp;&nbsp; **10613834** |
| **Hotels, restaurants & leisure: 0.70%** |  |  |
| &nbsp;&nbsp;&nbsp; Cheesecake Factory, Inc. | 74973 | &nbsp;&nbsp; **4345435** |
| **Household durables: 1.25%** |  |  |
| &nbsp;&nbsp;&nbsp; Cavco Industries, Inc.† | 7903 | &nbsp;&nbsp; 3888434 |
| &nbsp;&nbsp;&nbsp; Century Communities, Inc. | 30549 | &nbsp;&nbsp; 1923976 |
| &nbsp;&nbsp;&nbsp; Meritage Homes Corp. | 27569 | &nbsp;&nbsp; 1916321 |
|  |  | &nbsp;&nbsp; **7728731** |
| **Leisure products: 0.57%** |  |  |
| &nbsp;&nbsp;&nbsp; Johnson Outdoors, Inc. Class A | 78634 | &nbsp;&nbsp; **3569197** |
| **Specialty retail: 2.26%** |  |  |
| &nbsp;&nbsp;&nbsp; Abercrombie & Fitch Co. Class A† | 23480 | &nbsp;&nbsp; 2292352 |
| &nbsp;&nbsp;&nbsp; Envela Corp.† | 153571 | &nbsp;&nbsp; 2094708 |
| &nbsp;&nbsp;&nbsp; Monro, Inc. | 66007 | &nbsp;&nbsp; 1235651 |
| &nbsp;&nbsp;&nbsp; RealReal, Inc.† | 256191 | &nbsp;&nbsp; 3758322 |
| &nbsp;&nbsp;&nbsp; Urban Outfitters, Inc.† | 34657 | &nbsp;&nbsp; 2455449 |
| &nbsp;&nbsp;&nbsp; Victoria's Secret & Co.† | 39519 | &nbsp;&nbsp; 2154181 |
|  |  | &nbsp;&nbsp; **13990663** |

---

See accompanying notes to portfolio of investments

Allspring Small Company Value Portfolio \| 1

------

Portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Textiles, apparel & luxury goods: 0.77%** |  |  |
| &nbsp;&nbsp;&nbsp; Birkenstock Holding PLC† | 14315 | &nbsp;&nbsp; $540534 |
| &nbsp;&nbsp;&nbsp; Deckers Outdoor Corp.† | 18707 | &nbsp;&nbsp; 2232493 |
| &nbsp;&nbsp;&nbsp; Rocky Brands, Inc. | 61698 | &nbsp;&nbsp; 1986059 |
|  |  | &nbsp;&nbsp; **4759086** |
| **Consumer staples: 4.60%** |  |  |
| **Beverages: 0.81%** |  |  |
| &nbsp;&nbsp;&nbsp; Primo Brands Corp. Class A | 265590 | &nbsp;&nbsp; **5030275** |
| **Consumer staples distribution & retail: 0.99%** |  |  |
| &nbsp;&nbsp;&nbsp; Ingles Markets, Inc. Class A | 45816 | &nbsp;&nbsp; 3429786 |
| &nbsp;&nbsp;&nbsp; Village Super Market, Inc. Class A | 75313 | &nbsp;&nbsp; 2685661 |
|  |  | &nbsp;&nbsp; **6115447** |
| **Food products: 2.31%** |  |  |
| &nbsp;&nbsp;&nbsp; Darling Ingredients, Inc.† | 89108 | &nbsp;&nbsp; 4068672 |
| &nbsp;&nbsp;&nbsp; Hormel Foods Corp. | 130784 | &nbsp;&nbsp; 3218594 |
| &nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc. | 84547 | &nbsp;&nbsp; 3883244 |
| &nbsp;&nbsp;&nbsp; Pilgrim's Pride Corp. | 73598 | &nbsp;&nbsp; 3191945 |
|  |  | &nbsp;&nbsp; **14362455** |
| **Household products: 0.49%** |  |  |
| &nbsp;&nbsp;&nbsp; Oil-Dri Corp. of America | 49973 | &nbsp;&nbsp; **3025865** |
| **Energy: 7.57%** |  |  |
| **Energy equipment & services: 2.50%** |  |  |
| &nbsp;&nbsp;&nbsp; Patterson-UTI Energy, Inc. | 1078226 | &nbsp;&nbsp; 8119042 |
| &nbsp;&nbsp;&nbsp; TETRA Technologies, Inc.† | 648778 | &nbsp;&nbsp; 7396069 |
|  |  | &nbsp;&nbsp; **15515111** |
| **Oil, gas & consumable fuels: 5.07%** |  |  |
| &nbsp;&nbsp;&nbsp; Dorian LPG Ltd. | 146279 | &nbsp;&nbsp; 4319619 |
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Corp. Class A | 259096 | &nbsp;&nbsp; 6609539 |
| &nbsp;&nbsp;&nbsp; Matador Resources Co. | 69257 | &nbsp;&nbsp; 3133187 |
| &nbsp;&nbsp;&nbsp; PBF Energy, Inc. Class A | 109763 | &nbsp;&nbsp; 3672670 |
| &nbsp;&nbsp;&nbsp; Peabody Energy Corp. | 162285 | &nbsp;&nbsp; 5722169 |
| &nbsp;&nbsp;&nbsp; Permian Resources Corp. Class A | 492573 | &nbsp;&nbsp; 7945202 |
|  |  | &nbsp;&nbsp; **31402386** |
| **Financials: 22.73%** |  |  |
| **Banks: 14.12%** |  |  |
| &nbsp;&nbsp;&nbsp; Ameris Bancorp | 105112 | &nbsp;&nbsp; 8474129 |
| &nbsp;&nbsp;&nbsp; Atlantic Union Bankshares Corp. | 218428 | &nbsp;&nbsp; 8483705 |
| &nbsp;&nbsp;&nbsp; Banner Corp. | 73705 | &nbsp;&nbsp; 4557917 |
| &nbsp;&nbsp;&nbsp; Customers Bancorp, Inc.† | 112977 | &nbsp;&nbsp; 8927443 |
| &nbsp;&nbsp;&nbsp; FB Financial Corp. | 146685 | &nbsp;&nbsp; 8438788 |
| &nbsp;&nbsp;&nbsp; First Financial Corp. | 72793 | &nbsp;&nbsp; 4743192 |
| &nbsp;&nbsp;&nbsp; Great Southern Bancorp, Inc. | 85378 | &nbsp;&nbsp; 5240502 |
| &nbsp;&nbsp;&nbsp; HBT Financial, Inc. | 23354 | &nbsp;&nbsp; 630091 |
| &nbsp;&nbsp;&nbsp; Independent Bank Corp. | 186303 | &nbsp;&nbsp; 6548550 |

---

See accompanying notes to portfolio of investments

2 \| Allspring Small Company Value Portfolio

------

Portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Banks**(continued) |  |  |
| &nbsp;&nbsp;&nbsp; Pinnacle Financial Partners, Inc. | 66843 | &nbsp;&nbsp; $6356101 |
| &nbsp;&nbsp;&nbsp; UMB Financial Corp. | 68382 | &nbsp;&nbsp; 8694087 |
| &nbsp;&nbsp;&nbsp; Wintrust Financial Corp. | 57203 | &nbsp;&nbsp; 8436870 |
| &nbsp;&nbsp;&nbsp; WSFS Financial Corp. | 124193 | &nbsp;&nbsp; 8039013 |
|  |  | &nbsp;&nbsp; **87570388** |
| **Capital markets: 2.63%** |  |  |
| &nbsp;&nbsp;&nbsp; Donnelley Financial Solutions, Inc.† | 63169 | &nbsp;&nbsp; 3268996 |
| &nbsp;&nbsp;&nbsp; Galaxy Digital, Inc. Class A† | 112506 | &nbsp;&nbsp; 3179419 |
| &nbsp;&nbsp;&nbsp; Piper Sandler Cos. | 14262 | &nbsp;&nbsp; 4939644 |
| &nbsp;&nbsp;&nbsp; Stifel Financial Corp. | 39949 | &nbsp;&nbsp; 4925712 |
|  |  | &nbsp;&nbsp; **16313771** |
| **Financial services: 1.46%** |  |  |
| &nbsp;&nbsp;&nbsp; Jackson Financial, Inc. Class A | 76417 | &nbsp;&nbsp; **9087510** |
| **Insurance: 2.19%** |  |  |
| &nbsp;&nbsp;&nbsp; Genworth Financial, Inc. Class A† | 486237 | &nbsp;&nbsp; 4055217 |
| &nbsp;&nbsp;&nbsp; Lincoln National Corp. | 129912 | &nbsp;&nbsp; 5405638 |
| &nbsp;&nbsp;&nbsp; Unum Group | 53920 | &nbsp;&nbsp; 4096302 |
|  |  | &nbsp;&nbsp; **13557157** |
| **Mortgage real estate investment trusts (REITs): 2.33%** |  |  |
| &nbsp;&nbsp;&nbsp; AGNC Investment Corp. | 683406 | &nbsp;&nbsp; 7790828 |
| &nbsp;&nbsp;&nbsp; Annaly Capital Management, Inc. | 288753 | &nbsp;&nbsp; 6644207 |
|  |  | &nbsp;&nbsp; **14435035** |
| **Health care: 5.63%** |  |  |
| **Health care equipment & supplies: 1.27%** |  |  |
| &nbsp;&nbsp;&nbsp; Baxter International, Inc. | 210870 | &nbsp;&nbsp; 4232161 |
| &nbsp;&nbsp;&nbsp; Electromed, Inc.† | 77593 | &nbsp;&nbsp; 2317703 |
| &nbsp;&nbsp;&nbsp; Haemonetics Corp.† | 9421 | &nbsp;&nbsp; 628004 |
| &nbsp;&nbsp;&nbsp; Merit Medical Systems, Inc.† | 8321 | &nbsp;&nbsp; 674750 |
|  |  | &nbsp;&nbsp; **7852618** |
| **Health care providers & services: 3.13%** |  |  |
| &nbsp;&nbsp;&nbsp; AMN Healthcare Services, Inc.† | 30807 | &nbsp;&nbsp; 656189 |
| &nbsp;&nbsp;&nbsp; Brookdale Senior Living, Inc.† | 534487 | &nbsp;&nbsp; 8017305 |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp. | 14636 | &nbsp;&nbsp; 1383541 |
| &nbsp;&nbsp;&nbsp; Ensign Group, Inc. | 19569 | &nbsp;&nbsp; 3359215 |
| &nbsp;&nbsp;&nbsp; National HealthCare Corp. | 42058 | &nbsp;&nbsp; 6018920 |
|  |  | &nbsp;&nbsp; **19435170** |
| **Pharmaceuticals: 1.23%** |  |  |
| &nbsp;&nbsp;&nbsp; Ligand Pharmaceuticals, Inc.† | 11043 | &nbsp;&nbsp; 2121360 |
| &nbsp;&nbsp;&nbsp; Phibro Animal Health Corp. Class A | 83760 | &nbsp;&nbsp; 3362964 |
| &nbsp;&nbsp;&nbsp; Prestige Consumer Healthcare, Inc.† | 33608 | &nbsp;&nbsp; 2166708 |
|  |  | &nbsp;&nbsp; **7651032** |

---

See accompanying notes to portfolio of investments

Allspring Small Company Value Portfolio \| 3

------

Portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Industrials: 24.95%** |  |  |
| **Aerospace & defense: 0.87%** |  |  |
| &nbsp;&nbsp;&nbsp; Ducommun, Inc.† | 47430 | &nbsp;&nbsp; **$5376190** |
| **Building products: 2.61%** |  |  |
| &nbsp;&nbsp;&nbsp; AZZ, Inc. | 36383 | &nbsp;&nbsp; 4522043 |
| &nbsp;&nbsp;&nbsp; Trex Co., Inc.† | 105323 | &nbsp;&nbsp; 4362479 |
| &nbsp;&nbsp;&nbsp; UFP Industries, Inc. | 37021 | &nbsp;&nbsp; 3823529 |
| &nbsp;&nbsp;&nbsp; Zurn Elkay Water Solutions Corp. | 76327 | &nbsp;&nbsp; 3519438 |
|  |  | &nbsp;&nbsp; **16227489** |
| **Commercial services & supplies: 2.31%** |  |  |
| &nbsp;&nbsp;&nbsp; Brady Corp. Class A | 54815 | &nbsp;&nbsp; 4739853 |
| &nbsp;&nbsp;&nbsp; Brink's Co. | 12306 | &nbsp;&nbsp; 1563354 |
| &nbsp;&nbsp;&nbsp; Healthcare Services Group, Inc.† | 198593 | &nbsp;&nbsp; 3737520 |
| &nbsp;&nbsp;&nbsp; Interface, Inc. Class A | 136988 | &nbsp;&nbsp; 4311013 |
|  |  | &nbsp;&nbsp; **14351740** |
| **Construction & engineering: 3.00%** |  |  |
| &nbsp;&nbsp;&nbsp; Great Lakes Dredge & Dock Corp.† | 356805 | &nbsp;&nbsp; 5344939 |
| &nbsp;&nbsp;&nbsp; MYR Group, Inc.† | 16971 | &nbsp;&nbsp; 4243429 |
| &nbsp;&nbsp;&nbsp; NWPX Infrastructure, Inc.† | 85673 | &nbsp;&nbsp; 5778644 |
| &nbsp;&nbsp;&nbsp; Orion Group Holdings, Inc.† | 263379 | &nbsp;&nbsp; 3218491 |
|  |  | &nbsp;&nbsp; **18585503** |
| **Electrical equipment: 3.41%** |  |  |
| &nbsp;&nbsp;&nbsp; Atkore, Inc. | 48792 | &nbsp;&nbsp; 3388605 |
| &nbsp;&nbsp;&nbsp; EnerSys | 36785 | &nbsp;&nbsp; 6628289 |
| &nbsp;&nbsp;&nbsp; Generac Holdings, Inc.† | 20153 | &nbsp;&nbsp; 3386510 |
| &nbsp;&nbsp;&nbsp; NuScale Power Corp.† | 16563 | &nbsp;&nbsp; 289521 |
| &nbsp;&nbsp;&nbsp; Sunrun, Inc.† | 150714 | &nbsp;&nbsp; 2863566 |
| &nbsp;&nbsp;&nbsp; Thermon Group Holdings, Inc.† | 101739 | &nbsp;&nbsp; 4603690 |
|  |  | &nbsp;&nbsp; **21160181** |
| **Ground transportation: 0.94%** |  |  |
| &nbsp;&nbsp;&nbsp; ArcBest Corp. | 64757 | &nbsp;&nbsp; **5842377** |
| **Machinery: 6.89%** |  |  |
| &nbsp;&nbsp;&nbsp; Allison Transmission Holdings, Inc. | 51858 | &nbsp;&nbsp; 5636964 |
| &nbsp;&nbsp;&nbsp; Atmus Filtration Technologies, Inc. | 28428 | &nbsp;&nbsp; 1647971 |
| &nbsp;&nbsp;&nbsp; Blue Bird Corp.† | 41430 | &nbsp;&nbsp; 2084343 |
| &nbsp;&nbsp;&nbsp; ESCO Technologies, Inc. | 20646 | &nbsp;&nbsp; 4710798 |
| &nbsp;&nbsp;&nbsp; Gorman-Rupp Co. | 102659 | &nbsp;&nbsp; 5593889 |
| &nbsp;&nbsp;&nbsp; Kadant, Inc. | 14816 | &nbsp;&nbsp; 4756529 |
| &nbsp;&nbsp;&nbsp; Miller Industries, Inc. | 61505 | &nbsp;&nbsp; 2519860 |
| &nbsp;&nbsp;&nbsp; Mueller Water Products, Inc. Class A | 104113 | &nbsp;&nbsp; 2818339 |
| &nbsp;&nbsp;&nbsp; Standex International Corp. | 10712 | &nbsp;&nbsp; 2570880 |
| &nbsp;&nbsp;&nbsp; Timken Co. | 46189 | &nbsp;&nbsp; 4304353 |

---

See accompanying notes to portfolio of investments

4 \| Allspring Small Company Value Portfolio

------

Portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Machinery**(continued) |  |  |
| &nbsp;&nbsp;&nbsp; Twin Disc, Inc. | 143762 | &nbsp;&nbsp; $2471269 |
| &nbsp;&nbsp;&nbsp; Watts Water Technologies, Inc. Class A | 12069 | &nbsp;&nbsp; 3612372 |
|  |  | &nbsp;&nbsp; **42727567** |
| **Marine transportation: 1.28%** |  |  |
| &nbsp;&nbsp;&nbsp; Matson, Inc. | 49528 | &nbsp;&nbsp; **7939338** |
| **Professional services: 1.03%** |  |  |
| &nbsp;&nbsp;&nbsp; CBIZ, Inc.† | 14272 | &nbsp;&nbsp; 561603 |
| &nbsp;&nbsp;&nbsp; Korn Ferry | 24143 | &nbsp;&nbsp; 1677214 |
| &nbsp;&nbsp;&nbsp; Maximus, Inc. | 43991 | &nbsp;&nbsp; 4154510 |
|  |  | &nbsp;&nbsp; **6393327** |
| **Trading companies & distributors: 2.61%** |  |  |
| &nbsp;&nbsp;&nbsp; Boise Cascade Co. | 46179 | &nbsp;&nbsp; 3731725 |
| &nbsp;&nbsp;&nbsp; GATX Corp. | 18983 | &nbsp;&nbsp; 3453198 |
| &nbsp;&nbsp;&nbsp; Rush Enterprises, Inc. Class A | 72273 | &nbsp;&nbsp; 4639204 |
| &nbsp;&nbsp;&nbsp; Willis Lease Finance Corp. | 23819 | &nbsp;&nbsp; 4341727 |
|  |  | &nbsp;&nbsp; **16165854** |
| **Information technology: 8.74%** |  |  |
| **Communications equipment: 1.74%** |  |  |
| &nbsp;&nbsp;&nbsp; Applied Optoelectronics, Inc.† | 118598 | &nbsp;&nbsp; 5172059 |
| &nbsp;&nbsp;&nbsp; Digi International, Inc.† | 95792 | &nbsp;&nbsp; 4125761 |
| &nbsp;&nbsp;&nbsp; NetScout Systems, Inc.† | 42602 | &nbsp;&nbsp; 1184762 |
| &nbsp;&nbsp;&nbsp; Viasat, Inc.† | 6778 | &nbsp;&nbsp; 306162 |
|  |  | &nbsp;&nbsp; **10788744** |
| **Electronic equipment, instruments & components: 2.70%** |  |  |
| &nbsp;&nbsp;&nbsp; Belden, Inc. | 26049 | &nbsp;&nbsp; 3061018 |
| &nbsp;&nbsp;&nbsp; ePlus, Inc. | 29518 | &nbsp;&nbsp; 2532939 |
| &nbsp;&nbsp;&nbsp; Insight Enterprises, Inc.† | 25339 | &nbsp;&nbsp; 2128983 |
| &nbsp;&nbsp;&nbsp; OSI Systems, Inc.† | 13784 | &nbsp;&nbsp; 3447930 |
| &nbsp;&nbsp;&nbsp; PC Connection, Inc. | 20239 | &nbsp;&nbsp; 1190256 |
| &nbsp;&nbsp;&nbsp; Sanmina Corp.† | 30888 | &nbsp;&nbsp; 4376212 |
|  |  | &nbsp;&nbsp; **16737338** |
| **IT services: 1.33%** |  |  |
| &nbsp;&nbsp;&nbsp; EPAM Systems, Inc.† | 30838 | &nbsp;&nbsp; 6432807 |
| &nbsp;&nbsp;&nbsp; Kyndryl Holdings, Inc.† | 78625 | &nbsp;&nbsp; 1808375 |
|  |  | &nbsp;&nbsp; **8241182** |
| **Semiconductors & semiconductor equipment: 2.97%** |  |  |
| &nbsp;&nbsp;&nbsp; Cirrus Logic, Inc.† | 50483 | &nbsp;&nbsp; 6579954 |
| &nbsp;&nbsp;&nbsp; FormFactor, Inc.† | 80894 | &nbsp;&nbsp; 5702218 |
| &nbsp;&nbsp;&nbsp; Onto Innovation, Inc.† | 30584 | &nbsp;&nbsp; 6179497 |
|  |  | &nbsp;&nbsp; **18461669** |

---

See accompanying notes to portfolio of investments

Allspring Small Company Value Portfolio \| 5

------

Portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Materials: 7.57%** |  |  |
| **Chemicals: 2.90%** |  |  |
| &nbsp;&nbsp;&nbsp; Core Molding Technologies, Inc.† | 98968 | &nbsp;&nbsp; $1931855 |
| &nbsp;&nbsp;&nbsp; Eastman Chemical Co. | 27186 | &nbsp;&nbsp; 1884533 |
| &nbsp;&nbsp;&nbsp; Element Solutions, Inc. | 166322 | &nbsp;&nbsp; 4839970 |
| &nbsp;&nbsp;&nbsp; Hawkins, Inc. | 25707 | &nbsp;&nbsp; 3348337 |
| &nbsp;&nbsp;&nbsp; NewMarket Corp. | 3345 | &nbsp;&nbsp; 2243793 |
| &nbsp;&nbsp;&nbsp; Quaker Chemical Corp. | 12470 | &nbsp;&nbsp; 1917138 |
| &nbsp;&nbsp;&nbsp; Westlake Corp. | 22749 | &nbsp;&nbsp; 1804451 |
|  |  | &nbsp;&nbsp; **17970077** |
| **Construction materials: 1.20%** |  |  |
| &nbsp;&nbsp;&nbsp; Eagle Materials, Inc. | 19161 | &nbsp;&nbsp; 3905203 |
| &nbsp;&nbsp;&nbsp; Knife River Corp.† | 52945 | &nbsp;&nbsp; 3556316 |
|  |  | &nbsp;&nbsp; **7461519** |
| **Metals & mining: 3.47%** |  |  |
| &nbsp;&nbsp;&nbsp; Coeur Mining, Inc.† | 289622 | &nbsp;&nbsp; 5919874 |
| &nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp. | 43399 | &nbsp;&nbsp; 5321585 |
| &nbsp;&nbsp;&nbsp; SSR Mining, Inc.† | 200907 | &nbsp;&nbsp; 4586707 |
| &nbsp;&nbsp;&nbsp; Worthington Steel, Inc. | 142020 | &nbsp;&nbsp; 5713464 |
|  |  | &nbsp;&nbsp; **21541630** |
| **Real estate: 2.54%** |  |  |
| **Industrial REITs: 0.67%** |  |  |
| &nbsp;&nbsp;&nbsp; STAG Industrial, Inc. | 110934 | &nbsp;&nbsp; **4161134** |
| **Office REITs: 0.11%** |  |  |
| &nbsp;&nbsp;&nbsp; Vornado Realty Trust | 21940 | &nbsp;&nbsp; **699447** |
| **Retail REITs: 1.35%** |  |  |
| &nbsp;&nbsp;&nbsp; Brixmor Property Group, Inc. | 151905 | &nbsp;&nbsp; 4069535 |
| &nbsp;&nbsp;&nbsp; Tanger, Inc. | 131375 | &nbsp;&nbsp; 4298590 |
|  |  | &nbsp;&nbsp; **8368125** |
| **Specialized REITs: 0.41%** |  |  |
| &nbsp;&nbsp;&nbsp; PotlatchDeltic Corp. | 60091 | &nbsp;&nbsp; **2507598** |
| **Utilities: 1.71%** |  |  |
| **Electric utilities: 1.71%** |  |  |
| &nbsp;&nbsp;&nbsp; Hawaiian Electric Industries, Inc.† | 248144 | &nbsp;&nbsp; 3801566 |
| &nbsp;&nbsp;&nbsp; IDACORP, Inc. | 25595 | &nbsp;&nbsp; 3398760 |
| &nbsp;&nbsp;&nbsp; Pinnacle West Capital Corp. | 36376 | &nbsp;&nbsp; 3403339 |
|  |  | &nbsp;&nbsp; **10603665** |
| **Total common stocks (Cost $436,607,485)** |  | &nbsp;&nbsp; **600806129** |

---

See accompanying notes to portfolio of investments

6 \| Allspring Small Company Value Portfolio

------

Portfolio of investments—January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | Shares | Value |
| **Investment companies: 2.13%** |  |  |
| **Exchange-traded funds: 2.13%** |  |  |
| &nbsp;&nbsp;&nbsp; iShares Biotechnology ETF | 38420 | &nbsp;&nbsp; $6624761 |
| &nbsp;&nbsp;&nbsp; State Street SPDR S&P Biotech ETF | 52840 | &nbsp;&nbsp; 6591790 |
| **Total investment companies (Cost $11,821,583)** |  | &nbsp;&nbsp; **13216551** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | Yield |  |  |
| **Short-term investments: 1.03%** |  |  |  |  |
| **Investment companies: 1.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund Select Class♠∞ |  | 3.63<br> %<br>| 6422720 | &nbsp;&nbsp; **6422720** |
| **Total short-term investments (Cost $6,422,720)** |  |  |  | &nbsp;&nbsp; **6422720** |
| **Total investments in securities (Cost $454,851,788)** | 100.03<br> %<br>|  |  | &nbsp;&nbsp; 620445400 |
| &nbsp;&nbsp;&nbsp; Other assets and liabilities, net | (0.03)<br>|  |  | &nbsp;&nbsp; (213163)<br>|
| **Total net assets** | **100.00%**<br>|  |  | &nbsp;&nbsp; **$620232237** |

---

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

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

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

Abbreviations: <br> REIT Real estate investment trust

**Investments in affiliates**

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund Select <br> Class<br>| $6270725 | $75498880 | $(75346885)<br>| $0 | $0 | $6422720 | 6422720 | $179727 |

---

See accompanying notes to portfolio of investments

Allspring Small Company Value Portfolio \| 7

------

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

Notes to portfolio of investments

Securities valuation

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

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

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.

Fair valuation measurements

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

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Common stocks** |  |  |  |  |
| *Communication services* | &nbsp;&nbsp; $2894493 | &nbsp;&nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $2894493 |
| *Consumer discretionary* | &nbsp;&nbsp; 64245722 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 64245722 |
| *Consumer staples* | &nbsp;&nbsp; 28534042 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 28534042 |
| *Energy* | &nbsp;&nbsp; 46917497 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 46917497 |
| *Financials* | &nbsp;&nbsp; 140963861 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 140963861 |
| *Health care* | &nbsp;&nbsp; 34938820 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 34938820 |
| *Industrials* | &nbsp;&nbsp; 154769566 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 154769566 |
| *Information technology* | &nbsp;&nbsp; 54228933 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 54228933 |
| *Materials* | &nbsp;&nbsp; 46973226 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 46973226 |
| *Real estate* | &nbsp;&nbsp; 15736304 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 15736304 |
| *Utilities* | &nbsp;&nbsp; 10603665 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 10603665 |
| **Investment companies** | &nbsp;&nbsp; 13216551 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 13216551 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 6422720 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 6422720 |
| **Total assets** | &nbsp;&nbsp; **$620445400** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$620445400** |

---

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

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

8 \| Allspring Small Company Value Portfolio

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Charlotte

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 28203

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

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

- **a. Name of Series:** Allspring Small Company Value Portfolio

- **b. EDGAR series identifier (if any):** S000007553

- **c. LEI of Series:** 549300KI79XTV85VYS50

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $620682693.01

**Total Liabilities:** $446071.18

**Net Assets:** $620236621.83

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000020611 | 2.23%                | 0.70%                | 6.37%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-5388775.90             | $18335376.72                               |
| Month 2  | $15094139.07             | $-11225558.02                              |
| Month 3  | $10749242.30             | $27230987.23                               |

### Schedule of Portfolio Investments

| Name                              | Title                             | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AGNC Investment Corp              | AGNC Investment Corp              | CUSIP: 00123Q104<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EC               |  | US        |    683406 | NS      | $7790828.40   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| AMN Healthcare Services Inc       | AMN Healthcare Services Inc       | CUSIP: 001744101<br>LEI: 529900W3ARRTCNFH2I39 | Long             | EC               | CORP              | US        |      9111 | NS      | $194064.30    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ Inc                           | AZZ Inc                           | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |     36383 | NS      | $4522043.07   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Abercrombie & Fitch Co            | Abercrombie & Fitch Co            | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |     23480 | NS      | $2292352.40   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Adtalem Global Education Inc      | Adtalem Global Education Inc      | CUSIP: 00737L103<br>LEI: 549300Z467EZLMODV621 | Long             | EC               | CORP              | US        |     37770 | NS      | $3911083.50   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Allison Transmission Holdings Inc | Allison Transmission Holdings Inc | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |     51858 | NS      | $5636964.60   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                    | Ameris Bancorp                    | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |    105112 | NS      | $8474129.44   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management Inc     | Annaly Capital Management Inc     | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               |  | US        |    288753 | NS      | $6644206.53   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Optoelectronics Inc       | Applied Optoelectronics Inc       | CUSIP: 03823U102<br>LEI: 529900I8U6Q5SYDNLT48 | Long             | EC               | CORP              | US        |    118598 | NS      | $5172058.78   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcBest Corp                      | ArcBest Corp                      | CUSIP: 03937C105<br>LEI: 5493006S3KBNE8ZS3J23 | Long             | EC               | CORP              | US        |     64757 | NS      | $5842376.54   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Atkore Inc                        | Atkore Inc                        | CUSIP: 047649108<br>LEI: 52990002TI38AM4RPV48 | Long             | EC               | CORP              | US        |     48792 | NS      | $3388604.40   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Union Bankshares Corp    | Atlantic Union Bankshares Corp    | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    218427 | NS      | $8483704.68   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmus Filtration Technologies Inc | Atmus Filtration Technologies Inc | CUSIP: 04956D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28428 | NS      | $1647971.16   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Banner Corp                       | Banner Corp                       | CUSIP: 06652V208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     73705 | NS      | $4557917.20   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc          | Baxter International Inc          | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |    210870 | NS      | $4232160.90   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc                        | Belden Inc                        | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |     26049 | NS      | $3061017.99   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Bird Corp                    | Blue Bird Corp                    | CUSIP: 095306106<br>LEI: 5493004ZXJUUWQ65ER59 | Long             | EC               | CORP              | US        |     41430 | NS      | $2084343.30   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Boise Cascade Co                  | Boise Cascade Co                  | CUSIP: 09739D100<br>LEI: 549300Z8B8LSRHC7XA55 | Long             | EC               | CORP              | US        |     46179 | NS      | $3731724.99   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Brady Corp                        | Brady Corp                        | CUSIP: 104674106<br>LEI: 549300G2LEQOFQC8GY34 | Long             | EC               | CORP              | US        |     54815 | NS      | $4739853.05   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Brink's Co/The                    | Brink's Co/The                    | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |     12306 | NS      | $1563354.24   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc        | Brixmor Property Group Inc        | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               |  | US        |    140414 | NS      | $3761691.06   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookdale Senior Living Inc       | Brookdale Senior Living Inc       | CUSIP: 112463104<br>LEI: LH7MQB13NWY7CJ9VC445 | Long             | EC               | CORP              | US        |    534487 | NS      | $8017305.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CBIZ Inc                          | CBIZ Inc                          | CUSIP: 124805102<br>LEI: 529900D5X8CFM8O1N813 | Long             | EC               | CORP              | US        |     14272 | NS      | $561603.20    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Cargurus Inc                      | Cargurus Inc                      | CUSIP: 141788109<br>LEI: 54930027BKQN6B7X7G78 | Long             | EC               | CORP              | US        |     51469 | NS      | $1667595.60   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Carriage Services Inc             | Carriage Services Inc             | CUSIP: 143905107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     69371 | NS      | $2976709.61   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Cavco Industries Inc              | Cavco Industries Inc              | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7903 | NS      | $3888434.06   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Communities Inc           | Century Communities Inc           | CUSIP: 156504300<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | EC               | CORP              | US        |     30549 | NS      | $1923976.02   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheesecake Factory Inc/The        | Cheesecake Factory Inc/The        | CUSIP: 163072101<br>LEI: 529900872XMLK10SY247 | Long             | EC               | CORP              | US        |     86143 | NS      | $4992848.28   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic Inc                  | Cirrus Logic Inc                  | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |     50483 | NS      | $6579954.22   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Coeur Mining Inc                  | Coeur Mining Inc                  | CUSIP: 192108504<br>LEI: 5493003AVK173D48DR70 | Long             | EC               | CORP              | US        |    289622 | NS      | $5919873.68   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Molding Technologies Inc     | Core Molding Technologies Inc     | CUSIP: 218683100<br>LEI: 549300ZY2MFRXCKVIJ28 | Long             | EC               | CORP              | US        |     98968 | NS      | $1931855.36   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Customers Bancorp Inc             | Customers Bancorp Inc             | CUSIP: 23204G100<br>LEI: 549300WLBCHYKZ53FN68 | Long             | EC               | CORP              | US        |    112977 | NS      | $8927442.54   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Dana Inc                          | Dana Inc                          | CUSIP: 235825205<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | EC               | CORP              | US        |    166602 | NS      | $4814797.80   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients Inc           | Darling Ingredients Inc           | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |     89108 | NS      | $4068671.28   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Deckers Outdoor Corp              | Deckers Outdoor Corp              | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |     18707 | NS      | $2232493.38   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Digi International Inc            | Digi International Inc            | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |     95792 | NS      | $4125761.44   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Dillard's Inc                     | Dillard's Inc                     | CUSIP: 254067101<br>LEI: 529900FGYKMWL6019P91 | Long             | EC               | CORP              | US        |      3268 | NS      | $1985506.08   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Donnelley Financial Solutions Inc | Donnelley Financial Solutions Inc | CUSIP: 25787G100<br>LEI: 549300O1NPY4J56QCU04 | Long             | EC               | CORP              | US        |     63169 | NS      | $3268995.75   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Ducommun Inc                      | Ducommun Inc                      | CUSIP: 264147109<br>LEI: 549300Z71HMWF90S2214 | Long             | EC               | CORP              | US        |     47430 | NS      | $5376190.50   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc               | Eagle Materials Inc               | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |     19161 | NS      | $3905203.41   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastman Chemical Co               | Eastman Chemical Co               | CUSIP: 277432100<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | EC               | CORP              | US        |     27186 | NS      | $1884533.52   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Electromed Inc                    | Electromed Inc                    | CUSIP: 285409108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     77593 | NS      | $2317702.91   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Solutions Inc             | Element Solutions Inc             | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |    166322 | NS      | $4839970.20   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp             | Encompass Health Corp             | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     14636 | NS      | $1383541.08   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| EnerSys                           | EnerSys                           | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |     36785 | NS      | $6628289.15   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group Inc/The              | Ensign Group Inc/The              | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     19569 | NS      | $3359214.54   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Envela Corp                       | Envela Corp                       | CUSIP: 29402E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    153571 | NS      | $2094708.44   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| EPAM Systems Inc                  | EPAM Systems Inc                  | CUSIP: 29414B104<br>LEI: 549300XCR4R530HJP604 | Long             | EC               | CORP              | US        |     30838 | NS      | $6432806.80   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ePlus Inc                         | ePlus Inc                         | CUSIP: 294268107<br>LEI: 529900FFY8AAFJ21NE91 | Long             | EC               | CORP              | US        |     29518 | NS      | $2532939.58   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc             | ESCO Technologies Inc             | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |     20646 | NS      | $4710797.82   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| FB Financial Corp                 | FB Financial Corp                 | CUSIP: 30257X104<br>LEI: 5493000B2LD2C2A6C435 | Long             | EC               | CORP              | US        |    146685 | NS      | $8438788.05   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Corp              | First Financial Corp              | CUSIP: 320218100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     71089 | NS      | $4632159.24   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| FormFactor Inc                    | FormFactor Inc                    | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               | CORP              | US        |     80894 | NS      | $5702218.06   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| GATX Corp                         | GATX Corp                         | CUSIP: 361448103<br>LEI: 549300IHYHCQP2PIR591 | Long             | EC               | CORP              | US        |     18983 | NS      | $3453197.53   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Galaxy Digital Inc                | Galaxy Digital Inc                | CUSIP: 36317J209<br>LEI: 9845001C4070E5N07806 | Long             | EC               | CORP              | US        |    112506 | NS      | $3179419.56   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Generac Holdings Inc              | Generac Holdings Inc              | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |     20153 | NS      | $3386510.12   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Genworth Financial Inc            | Genworth Financial Inc            | CUSIP: 37247D106<br>LEI: 549300EMCG286BDNKJ33 | Long             | EC               | CORP              | US        |    486237 | NS      | $4055216.58   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Gorman-Rupp Co/The                | Gorman-Rupp Co/The                | CUSIP: 383082104<br>LEI: 254900WVLPOIWPGJPA07 | Long             | EC               | CORP              | US        |     99194 | NS      | $5405081.06   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education Inc        | Grand Canyon Education Inc        | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |     19619 | NS      | $3410566.96   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Great Lakes Dredge & Dock Corp    | Great Lakes Dredge & Dock Corp    | CUSIP: 390607109<br>LEI: 549300H65E3MZ1CX0P05 | Long             | EC               | CORP              | US        |    356805 | NS      | $5344938.90   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Great Southern Bancorp Inc        | Great Southern Bancorp Inc        | CUSIP: 390905107<br>LEI: 5493000ZL7DLNMN1AB26 | Long             | EC               | CORP              | US        |     85378 | NS      | $5240501.64   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| HBT Financial Inc                 | HBT Financial Inc                 | CUSIP: 404111106<br>LEI: 549300NTXD4Q6UK5BY66 | Long             | EC               | CORP              | US        |     23354 | NS      | $630090.92    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Haemonetics Corp                  | Haemonetics Corp                  | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |      9421 | NS      | $628003.86    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawaiian Electric Industries Inc  | Hawaiian Electric Industries Inc  | CUSIP: 419870100<br>LEI: JJ8FWOCWCV22X7GUPJ23 | Long             | EC               | CORP              | US        |    248144 | NS      | $3801566.08   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawkins Inc                       | Hawkins Inc                       | CUSIP: 420261109<br>LEI: 549300VL3IJ23OWX1Y34 | Long             | EC               | CORP              | US        |     25707 | NS      | $3348336.75   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Services Group Inc     | Healthcare Services Group Inc     | CUSIP: 421906108<br>LEI: 529900GVZ1D2FBYMS719 | Long             | EC               | CORP              | US        |    198593 | NS      | $3737520.26   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Hormel Foods Corp                 | Hormel Foods Corp                 | CUSIP: 440452100<br>LEI: MSD54751OJP1FS2ND863 | Long             | EC               | CORP              | US        |    116260 | NS      | $2861158.60   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP Inc                       | IDACORP Inc                       | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |     23276 | NS      | $3090820.04   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Independent Bank Corp/MI          | Independent Bank Corp/MI          | CUSIP: 453838609<br>LEI: 549300C5K3W8THR3GE10 | Long             | EC               | CORP              | US        |    186303 | NS      | $6548550.45   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingles Markets Inc                | Ingles Markets Inc                | CUSIP: 457030104<br>LEI: 549300XH5RYBMYP8TF26 | Long             | EC               | CORP              | US        |     45816 | NS      | $3429785.76   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Insight Enterprises Inc           | Insight Enterprises Inc           | CUSIP: 45765U103<br>LEI: 529900S8991TYW6YP792 | Long             | EC               | CORP              | US        |     25339 | NS      | $2128982.78   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Interface Inc                     | Interface Inc                     | CUSIP: 458665304<br>LEI: 549300VXZWQOIDFPU355 | Long             | EC               | CORP              | US        |    136988 | NS      | $4311012.36   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Biotechnology ETF         | iShares Biotechnology ETF         | CUSIP: 464287556<br>LEI: 549300S7IVD88MPK0066 | Long             | EC               | RF                | US        |     38420 | NS      | $6624760.60   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Jackson Financial Inc             | Jackson Financial Inc             | CUSIP: 46817M107<br>LEI: 213800WXW2KG1N4CO374 | Long             | EC               | CORP              | US        |     76417 | NS      | $9087509.64   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Outdoors Inc              | Johnson Outdoors Inc              | CUSIP: 479167108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     78634 | NS      | $3569197.26   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Kadant Inc                        | Kadant Inc                        | CUSIP: 48282T104<br>LEI: 549300K06LNJYBMPYP15 | Long             | EC               | CORP              | US        |     14816 | NS      | $4756528.64   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaiser Aluminum Corp              | Kaiser Aluminum Corp              | CUSIP: 483007704<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43399 | NS      | $5321585.38   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp                  | Knife River Corp                  | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     52945 | NS      | $3556315.65   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Korn Ferry                        | Korn Ferry                        | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |     24143 | NS      | $1677214.21   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyndryl Holdings Inc              | Kyndryl Holdings Inc              | CUSIP: 50155Q100<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | EC               | CORP              | US        |     78625 | NS      | $1808375.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc          | Lamb Weston Holdings Inc          | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |     78050 | NS      | $3584836.50   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Ligand Pharmaceuticals Inc        | Ligand Pharmaceuticals Inc        | CUSIP: 53220K504<br>LEI: 5493008K7TB0IKP37H79 | Long             | EC               | CORP              | US        |     11043 | NS      | $2121360.30   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln National Corp             | Lincoln National Corp             | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |    129912 | NS      | $5405638.32   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| MYR Group Inc                     | MYR Group Inc                     | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |     16971 | NS      | $4243428.84   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Macy's Inc                        | Macy's Inc                        | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |     31084 | NS      | $622301.68    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnolia Oil & Gas Corp           | Magnolia Oil & Gas Corp           | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    259096 | NS      | $6609538.96   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co              | Matador Resources Co              | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     69257 | NS      | $3133186.68   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Matson Inc                        | Matson Inc                        | CUSIP: 57686G105<br>LEI: 549300OI5H3Y0I9I4I12 | Long             | EC               | CORP              | US        |     49528 | NS      | $7939338.40   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus Inc                       | Maximus Inc                       | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |     43991 | NS      | $4154510.04   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems Inc         | Merit Medical Systems Inc         | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |      8321 | NS      | $674749.89    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Meritage Homes Corp               | Meritage Homes Corp               | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |     27569 | NS      | $1916321.19   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Miller Industries Inc/TN          | Miller Industries Inc/TN          | CUSIP: 600551204<br>LEI: 549300F1O74SPUJ7UU94 | Long             | EC               | CORP              | US        |     61505 | NS      | $2519859.85   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Monro Inc                         | Monro Inc                         | CUSIP: 610236101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    102046 | NS      | $1910301.12   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Water Products Inc        | Mueller Water Products Inc        | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |    104113 | NS      | $2818338.91   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| National HealthCare Corp          | National HealthCare Corp          | CUSIP: 635906100<br>LEI: 254900PTS11LS1JS2752 | Long             | EC               | CORP              | US        |     42058 | NS      | $6018920.38   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| NetScout Systems Inc              | NetScout Systems Inc              | CUSIP: 64115T104<br>LEI: 5493005HZXZ3SPNVCV76 | Long             | EC               | CORP              | US        |     42602 | NS      | $1184761.62   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| NewMarket Corp                    | NewMarket Corp                    | CUSIP: 651587107<br>LEI: 54930082CG88ERDREQ47 | Long             | EC               | CORP              | US        |      3345 | NS      | $2243792.55   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| NWPX Infrastructure Inc           | NWPX Infrastructure Inc           | CUSIP: 667746101<br>LEI: 54930056VW2CRCZ9RE54 | Long             | EC               | CORP              | US        |     85673 | NS      | $5778643.85   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| NuScale Power Corp                | NuScale Power Corp                | CUSIP: 67079K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9115 | NS      | $159330.20    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| OSI Systems Inc                   | OSI Systems Inc                   | CUSIP: 671044105<br>LEI: DDX3MPX1Y8YD30050X33 | Long             | EC               | CORP              | US        |     13784 | NS      | $3447929.76   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Oil-Dri Corp of America           | Oil-Dri Corp of America           | CUSIP: 677864100<br>LEI: 549300RSG5KPUH16WH66 | Long             | EC               | CORP              | US        |     49973 | NS      | $3025865.15   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc               | Onto Innovation Inc               | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |     33506 | NS      | $6769887.30   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Orion Group Holdings Inc          | Orion Group Holdings Inc          | CUSIP: 68628V308<br>LEI: 549300KBVXPV9Q3CT222 | Long             | EC               | CORP              | US        |    263379 | NS      | $3218491.38   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| PBF Energy Inc                    | PBF Energy Inc                    | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Long             | EC               | CORP              | US        |    109763 | NS      | $3672669.98   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| PC Connection Inc                 | PC Connection Inc                 | CUSIP: 69318J100<br>LEI: 5299005WPRNIXDV2KM73 | Long             | EC               | CORP              | US        |     20239 | NS      | $1190255.59   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Patrick Industries Inc            | Patrick Industries Inc            | CUSIP: 703343103<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | EC               | CORP              | US        |     42782 | NS      | $5397804.94   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy Inc          | Patterson-UTI Energy Inc          | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Long             | EC               | CORP              | US        |   1078226 | NS      | $8119041.78   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Peabody Energy Corp               | Peabody Energy Corp               | CUSIP: 704551100<br>LEI: EJCO258LNNVSKAR2JX59 | Long             | EC               | CORP              | US        |    162285 | NS      | $5722169.10   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Peloton Interactive Inc           | Peloton Interactive Inc           | CUSIP: 70614W100<br>LEI: 5493002YS021166W0339 | Long             | EC               | CORP              | US        |    103468 | NS      | $578386.12    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp            | Permian Resources Corp            | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    492573 | NS      | $7945202.49   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Phibro Animal Health Corp         | Phibro Animal Health Corp         | CUSIP: 71742Q106<br>LEI: 549300U24SP4AF2JUX52 | Long             | EC               | CORP              | US        |     83760 | NS      | $3362964.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Pilgrim's Pride Corp              | Pilgrim's Pride Corp              | CUSIP: 72147K108<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | EC               | CORP              | US        |     67959 | NS      | $2947381.83   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle West Capital Corp        | Pinnacle West Capital Corp        | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |     32955 | NS      | $3083269.80   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners Inc   | Pinnacle Financial Partners Inc   | CUSIP: 72348N109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     66843 | NS      | $6356100.87   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Piper Sandler Cos                 | Piper Sandler Cos                 | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |     14411 | NS      | $4991249.85   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| PotlatchDeltic Corp               | PotlatchDeltic Corp               | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               |  | US        |     53924 | NS      | $2250248.52   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Prestige Consumer Healthcare Inc  | Prestige Consumer Healthcare Inc  | CUSIP: 74112D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33608 | NS      | $2166707.76   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Primo Brands Corp                 | Primo Brands Corp                 | CUSIP: 741623102<br>LEI: 254900J0WS4AXV2LAX55 | Long             | EC               | CORP              | US        |    265590 | NS      | $5030274.60   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Quaker Chemical Corp              | Quaker Chemical Corp              | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |     12470 | NS      | $1917137.80   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocky Brands Inc                  | Rocky Brands Inc                  | CUSIP: 774515100<br>LEI: 5299004HQ6GCTW838N96 | Long             | EC               | CORP              | US        |     61698 | NS      | $1986058.62   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Enterprises Inc              | Rush Enterprises Inc              | CUSIP: 781846209<br>LEI: 529900V3XHTN7A6DFT17 | Long             | EC               | CORP              | US        |     68848 | NS      | $4419353.12   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street SPDR S&P Biotech ETF | State Street SPDR S&P Biotech ETF | CUSIP: 78464A870<br>LEI: 549300Y3ODFMPD5XXL58 | Long             | EC               | RF                | US        |     52840 | NS      | $6591790.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SSR Mining Inc                    | SSR Mining Inc                    | CUSIP: 784730103<br>LEI: 549300JD2KR7AB9DYJ38 | Long             | EC               | CORP              | CA        |    200907 | NS      | $4586706.81   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanmina Corp                      | Sanmina Corp                      | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |     30888 | NS      | $4376211.84   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| SkyWest Inc                       | SkyWest Inc                       | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |     11249 | NS      | $1085753.48   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc               | STAG Industrial Inc               | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               |  | US        |    102927 | NS      | $3860791.77   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Standex International Corp        | Standex International Corp        | CUSIP: 854231107<br>LEI: RCX52GR0JW2LRRMH9Z54 | Long             | EC               | CORP              | US        |     10712 | NS      | $2570880.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corp             | Stifel Financial Corp             | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |     39949 | NS      | $4925711.70   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Strattec Security Corp            | Strattec Security Corp            | CUSIP: 863111100<br>LEI: 549300Z394OP8S8TSR40 | Long             | EC               | CORP              | US        |     50146 | NS      | $3967551.52   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Stride Inc                        | Stride Inc                        | CUSIP: 86333M108<br>LEI: 254900BRWS3AFONWU277 | Long             | EC               | CORP              | US        |      2256 | NS      | $190857.60    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunrun Inc                        | Sunrun Inc                        | CUSIP: 86771W105<br>LEI: 54930007SJ77CI66U531 | Long             | EC               | CORP              | US        |    150714 | NS      | $2863566.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger Inc                        | Tanger Inc                        | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               |  | US        |    121459 | NS      | $3974138.48   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| TETRA Technologies Inc            | TETRA Technologies Inc            | CUSIP: 88162F105<br>LEI: 549300T5W131705EK832 | Long             | EC               | CORP              | US        |    648778 | NS      | $7396069.20   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| RealReal Inc/The                  | RealReal Inc/The                  | CUSIP: 88339P101<br>LEI: 549300O00VUGT4H1PE90 | Long             | EC               | CORP              | US        |    256191 | NS      | $3758321.97   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermon Group Holdings Inc        | Thermon Group Holdings Inc        | CUSIP: 88362T103<br>LEI: 529900ZNZBBLDE77MZ38 | Long             | EC               | CORP              | US        |    101739 | NS      | $4603689.75   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Timken Co/The                     | Timken Co/The                     | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |     46189 | NS      | $4304352.91   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co Inc                       | Trex Co Inc                       | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    105323 | NS      | $4362478.66   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Twin Disc Inc                     | Twin Disc Inc                     | CUSIP: 901476101<br>LEI: 549300FR8EHCY14BLP32 | Long             | EC               | CORP              | US        |    143762 | NS      | $2471268.78   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp                | UMB Financial Corp                | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |     68382 | NS      | $8694087.48   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries Inc                | UFP Industries Inc                | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |     37021 | NS      | $3823528.88   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                        | Unum Group                        | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     53920 | NS      | $4096302.40   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Outfitters Inc              | Urban Outfitters Inc              | CUSIP: 917047102<br>LEI: 549300N3DUFR5U6NRN38 | Long             | EC               | CORP              | US        |     34657 | NS      | $2455448.45   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Versant Media Group Inc           | Versant Media Group Inc           | CUSIP: 925283103<br>LEI: 254900D2Q5F5F229PU30 | Long             | EC               | CORP              | US        |     37658 | NS      | $1226897.64   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Viasat Inc                        | Viasat Inc                        | CUSIP: 92552V100<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | EC               | CORP              | US        |      3924 | NS      | $177247.08    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Victoria's Secret & Co            | Victoria's Secret & Co            | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               | CORP              | US        |     39519 | NS      | $2154180.69   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Village Super Market Inc          | Village Super Market Inc          | CUSIP: 927107409<br>LEI: 25490069686XCNNEMQ07 | Long             | EC               | CORP              | US        |     75313 | NS      | $2685661.58   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust              | Vornado Realty Trust              | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               |  | US        |     21940 | NS      | $699447.20    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| WSFS Financial Corp               | WSFS Financial Corp               | CUSIP: 929328102<br>LEI: 549300SU7VQHD6QRG886 | Long             | EC               | CORP              | US        |    124193 | NS      | $8039012.89   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Watts Water Technologies Inc      | Watts Water Technologies Inc      | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |     12069 | NS      | $3612372.39   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Westlake Corp                     | Westlake Corp                     | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | EC               | CORP              | US        |     22749 | NS      | $1804450.68   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Willis Lease Finance Corp         | Willis Lease Finance Corp         | CUSIP: 970646105<br>LEI: 54930023EP1OE5MKWF89 | Long             | EC               | CORP              | US        |     23819 | NS      | $4341727.32   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp           | Wintrust Financial Corp           | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     57203 | NS      | $8436870.47   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSPRING GOVERNMENT MONEY MAR    | ALLSPRING GOVERNMENT MONEY MAR    | CUSIP: 000000000<br>LEI: 549300GFSYYLVYEWA041 | Long             | STIV             | RF                | US        |   6422721 | NS      | $6422720.62   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Worthington Steel Inc             | Worthington Steel Inc             | CUSIP: 982104101<br>LEI: 2549009ZUUWL3QLK6G24 | Long             | EC               | CORP              | US        |    133363 | NS      | $5365193.49   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurn Elkay Water Solutions Corp   | Zurn Elkay Water Solutions Corp   | CUSIP: 98983L108<br>LEI: 549300AM3633XDFU1Q85 | Long             | EC               | CORP              | US        |     76327 | NS      | $3519437.97   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| GigaCloud Technology Inc          | GigaCloud Technology Inc          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     77322 | NS      | $3087467.46   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Birkenstock Holding Plc           | Birkenstock Holding Plc           | CUSIP: 000000000<br>LEI: 529900CQ8LQKQ7LIT631 | Long             | EC               | CORP              | JE        |     14315 | NS      | $540534.40    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorian LPG Ltd                    | Dorian LPG Ltd                    | CUSIP: 000000000<br>LEI: 549300WP1W2WGMC7F395 | Long             | EC               | CORP              | MH        |    146279 | NS      | $4319618.87   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** ALLSPRING MASTER TRUST

**Signature:** Jeremy DePalma

**Name of Signer:** Jeremy DePalma

**Title:** Treasurer