Portfolio of investments—May 31, 2024 (unaudited)
Portfolio of investments
 
 
 
 
 
 
Shares
Value
Common stocks:  85.13%
 
Communication services:  0.00%
 
Diversified telecommunication services:  0.00%
 
Intelsat Emergence SA♦†
 
9
$0
Utilities:  85.12%
 
Electric utilities:  50.07%
 
Alliant Energy Corp.
 
42,134
2,169,480
American Electric Power Co., Inc.
 
59,781
5,395,235
Constellation Energy Corp.
 
29,257
6,356,083
Duke Energy Corp.
 
53,254
5,515,517
Entergy Corp.
 
22,292
2,507,627
Eversource Energy
 
22,708
1,344,995
Exelon Corp.
 
104,903
3,939,107
FirstEnergy Corp.
 
59,028
2,376,467
NextEra Energy, Inc.
 
181,090
14,490,822
Southern Co.
 
73,408
5,882,917
Xcel Energy, Inc.
 
45,455
2,520,480
 
 
52,498,730
Gas utilities:  3.22%
 
Atmos Energy Corp.
 
29,092
3,372,345
Multi-utilities:  29.32%
 
Ameren Corp.
 
41,563
3,049,477
CenterPoint Energy, Inc.
 
121,398
3,703,853
CMS Energy Corp.
 
59,487
3,743,517
Dominion Energy, Inc.
 
65,447
3,528,902
DTE Energy Co.
 
36,603
4,265,348
Public Service Enterprise Group, Inc.
 
50,674
3,839,062
Sempra Energy
 
73,814
5,685,893
WEC Energy Group, Inc.
 
36,135
2,928,019
 
 
30,744,071
Water utilities:  2.51%
 
American Water Works Co., Inc.
 
20,113
2,630,177
Investment Companies:  0.01%
 
Resolute Topco, Inc.‡†
 
2,068
10,340
Total common stocks (Cost $72,161,644)
 
89,255,663
 
 
 
Interest
rate
Maturity
date
Principal
 
Corporate bonds and notes:  34.21%
 
Basic materials:  0.15%
 
Chemicals:  0.15%
 
SCIH Salt Holdings, Inc.144A
6.63
%
5-1-2029
$
165,000
155,404
See accompanying notes to portfolio of investments
Allspring Utilities and High Income Fund | 1
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
 
Interest
rate
Maturity
date
Principal
Value
Communications:  3.87%
 
Advertising:  0.63%
 
Clear Channel Outdoor Holdings, Inc.144A
7.50
%
6-1-2029
$
150,000
$123,151
Clear Channel Outdoor Holdings, Inc.144A
9.00
9-15-2028
 
150,000
156,121
Outfront Media Capital LLC/Outfront Media Capital Corp.144A
4.63
3-15-2030
 
135,000
120,009
Outfront Media Capital LLC/Outfront Media Capital Corp.144A
5.00
8-15-2027
 
85,000
81,627
Outfront Media Capital LLC/Outfront Media Capital Corp.144A
7.38
2-15-2031
 
170,000
175,687
 
 
656,595
Internet:  0.74%
 
Arches Buyer, Inc.144A
4.25
6-1-2028
 
125,000
109,098
Arches Buyer, Inc.144A
6.13
12-1-2028
 
135,000
108,750
Cablevision Lightpath LLC144A
3.88
9-15-2027
 
135,000
117,735
Cablevision Lightpath LLC144A
5.63
9-15-2028
 
130,000
102,368
Match Group Holdings II LLC144A
5.63
2-15-2029
 
355,000
336,572
 
 
774,523
Media:  2.37%
 
CCO Holdings LLC/CCO Holdings Capital Corp.144A
4.25
1-15-2034
 
475,000
353,918
CCO Holdings LLC/CCO Holdings Capital Corp.144A
4.50
8-15-2030
 
450,000
373,908
CCO Holdings LLC/CCO Holdings Capital Corp.
4.50
5-1-2032
 
50,000
39,664
CCO Holdings LLC/CCO Holdings Capital Corp.144A
5.00
2-1-2028
 
25,000
23,083
CSC Holdings LLC144A
4.63
12-1-2030
 
200,000
84,091
CSC Holdings LLC144A
5.75
1-15-2030
 
55,000
23,766
CSC Holdings LLC144A
11.25
5-15-2028
 
200,000
161,376
CSC Holdings LLC144A
11.75
1-31-2029
 
145,000
115,233
Directv Financing LLC/Directv Financing Co-Obligor, Inc.144A
5.88
8-15-2027
 
90,000
84,511
DISH Network Corp.144A
11.75
11-15-2027
 
135,000
135,447
Nexstar Media, Inc.144A
5.63
7-15-2027
 
125,000
117,985
Paramount Global (3 Month LIBOR+3.90%)±
6.25
2-28-2057
 
50,000
43,567
Scripps Escrow II, Inc.144A
5.38
1-15-2031
 
300,000
122,699
Sirius XM Radio, Inc.144A
4.13
7-1-2030
 
525,000
440,028
Townsquare Media, Inc.144A
6.88
2-1-2026
 
380,000
371,410
 
 
2,490,686
Telecommunications:  0.13%
 
CommScope, Inc.144A
6.00
3-1-2026
 
90,000
80,325
ViaSat, Inc.144A
5.63
9-15-2025
 
60,000
58,189
 
 
138,514
Consumer, cyclical:  6.77%
 
Airlines:  0.41%
 
American Airlines, Inc./AAdvantage Loyalty IP Ltd.144A
5.50
4-20-2026
 
53,333
52,829
Hawaiian Airlines Pass-Through Certificates Series 2013-1 Class A
3.90
1-15-2026
 
122,169
114,854
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty
Ltd.144A
5.75
1-20-2026
 
195,000
179,810
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd.144A
8.00
9-20-2025
 
115,000
86,354
 
 
433,847
See accompanying notes to portfolio of investments
2 | Allspring Utilities and High Income Fund
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
 
Interest
rate
Maturity
date
Principal
Value
Apparel:  0.44%
 
Crocs, Inc.144A
4.13
%
8-15-2031
$
95,000
$82,620
Crocs, Inc.144A
4.25
3-15-2029
 
260,000
237,325
Tapestry, Inc.
7.85
11-27-2033
 
130,000
137,037
 
 
456,982
Auto manufacturers:  0.14%
 
Ford Motor Co.
4.75
1-15-2043
 
180,000
145,526
Auto parts & equipment:  0.66%
 
Adient Global Holdings Ltd.144A
8.25
4-15-2031
 
105,000
109,357
American Axle & Manufacturing, Inc.
5.00
10-1-2029
 
210,000
191,199
Cooper Tire & Rubber Co.
7.63
3-15-2027
 
107,000
108,811
ZF North America Capital, Inc.144A
6.88
4-23-2032
 
270,000
276,211
 
 
685,578
Distribution/wholesale:  0.20%
 
G-III Apparel Group Ltd.144A
7.88
8-15-2025
 
210,000
210,529
Entertainment:  1.27%
 
CCM Merger, Inc.144A
6.38
5-1-2026
 
530,000
526,090
Churchill Downs, Inc.144A
4.75
1-15-2028
 
250,000
236,839
Churchill Downs, Inc.144A
6.75
5-1-2031
 
45,000
44,772
Cinemark USA, Inc.144A
5.25
7-15-2028
 
120,000
112,036
Cinemark USA, Inc.144A
5.88
3-15-2026
 
65,000
64,030
Live Nation Entertainment, Inc.144A
3.75
1-15-2028
 
140,000
128,633
Six Flags Entertainment Corp./Six Flags Theme Parks, Inc.144A
6.63
5-1-2032
 
220,000
220,160
 
 
1,332,560
Home builders:  0.26%
 
LGI Homes, Inc.144A
8.75
12-15-2028
 
150,000
155,743
Taylor Morrison Communities, Inc.144A
5.13
8-1-2030
 
60,000
56,926
Tri Pointe Homes, Inc.
5.70
6-15-2028
 
65,000
63,549
 
 
276,218
Housewares:  0.17%
 
Newell Brands, Inc.
5.70
4-1-2026
 
175,000
172,798
Leisure time:  0.80%
 
Carnival Holdings Bermuda Ltd.144A
10.38
5-1-2028
 
340,000
368,097
NCL Corp. Ltd.144A
5.88
3-15-2026
 
115,000
113,072
NCL Corp. Ltd.144A
5.88
2-15-2027
 
75,000
73,922
NCL Corp. Ltd.144A
7.75
2-15-2029
 
110,000
113,037
NCL Corp. Ltd.144A
8.13
1-15-2029
 
55,000
57,467
Viking Cruises Ltd.144A
7.00
2-15-2029
 
115,000
115,206
 
 
840,801
Retail:  2.42%
 
Bath & Body Works, Inc.144A
6.63
10-1-2030
 
70,000
70,094
Dave & Buster’s, Inc.144A
7.63
11-1-2025
 
70,000
70,369
See accompanying notes to portfolio of investments
Allspring Utilities and High Income Fund | 3
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
 
Interest
rate
Maturity
date
Principal
Value
Retail(continued)
 
FirstCash, Inc.144A
4.63
%
9-1-2028
$
205,000
$192,222
FirstCash, Inc.144A
6.88
3-1-2032
 
100,000
99,164
Gap, Inc.144A
3.88
10-1-2031
 
220,000
182,625
Kohl’s Corp.
4.63
5-1-2031
 
235,000
189,511
Lithia Motors, Inc.144A
4.38
1-15-2031
 
135,000
118,943
LSF9 Atlantis Holdings LLC/Victra Finance Corp.144A
7.75
2-15-2026
 
115,000
113,927
Macy’s Retail Holdings LLC144A
5.88
4-1-2029
 
125,000
120,363
Macy’s Retail Holdings LLC144A
6.13
3-15-2032
 
240,000
228,338
Michaels Cos., Inc.144A
7.88
5-1-2029
 
130,000
88,412
NMG Holding Co., Inc./Neiman Marcus Group LLC144A
7.13
4-1-2026
 
195,000
193,899
PetSmart, Inc./PetSmart Finance Corp.144A
4.75
2-15-2028
 
130,000
120,732
PetSmart, Inc./PetSmart Finance Corp.144A
7.75
2-15-2029
 
260,000
248,916
Raising Cane’s Restaurants LLC144A
9.38
5-1-2029
 
165,000
177,646
Sally Holdings LLC/Sally Capital, Inc.
6.75
3-1-2032
 
190,000
186,381
Sonic Automotive, Inc.144A
4.88
11-15-2031
 
155,000
136,027
 
 
2,537,569
Consumer, non-cyclical:  4.92%
 
Commercial services:  2.62%
 
Allied Universal Holdco LLC144A
7.88
2-15-2031
 
140,000
139,568
Allied Universal Holdco LLC/Allied Universal Finance Corp.144A
6.00
6-1-2029
 
195,000
166,439
Allied Universal Holdco LLC/Allied Universal Finance Corp.144A
6.63
7-15-2026
 
4,000
3,998
Block, Inc.144A
6.50
5-15-2032
 
115,000
116,069
CoreCivic, Inc.
8.25
4-15-2029
 
395,000
412,494
GEO Group, Inc.144A
8.63
4-15-2029
 
270,000
277,913
GEO Group, Inc.144A
10.25
4-15-2031
 
265,000
278,889
MPH Acquisition Holdings LLC144A
5.50
9-1-2028
 
100,000
74,368
MPH Acquisition Holdings LLC144A
5.75
11-1-2028
 
285,000
169,519
Prime Security Services Borrower LLC/Prime Finance, Inc.144A
6.25
1-15-2028
 
165,000
161,987
Sabre Global, Inc.144A
11.25
12-15-2027
 
350,000
340,214
Service Corp. International
7.50
4-1-2027
 
140,000
143,862
Sotheby’s/Bidfair Holdings, Inc.144A
5.88
6-1-2029
 
190,000
148,641
Upbound Group, Inc.144A
6.38
2-15-2029
 
325,000
313,389
 
 
2,747,350
Food:  0.35%
 
B&G Foods, Inc.144A
8.00
9-15-2028
 
360,000
365,370
Healthcare-services:  1.62%
 
CHS/Community Health Systems, Inc.144A
5.25
5-15-2030
 
145,000
120,365
CHS/Community Health Systems, Inc.144A
5.63
3-15-2027
 
125,000
118,394
CHS/Community Health Systems, Inc.144A
6.00
1-15-2029
 
10,000
8,954
CHS/Community Health Systems, Inc.144A
8.00
3-15-2026
 
57,000
57,102
CHS/Community Health Systems, Inc.144A
10.88
1-15-2032
 
110,000
113,657
IQVIA, Inc.144A
6.50
5-15-2030
 
180,000
181,783
ModivCare Escrow Issuer, Inc.144A
5.00
10-1-2029
 
200,000
142,032
Pediatrix Medical Group, Inc.144A
5.38
2-15-2030
 
270,000
232,616
Star Parent, Inc.144A
9.00
10-1-2030
 
240,000
250,258
See accompanying notes to portfolio of investments
4 | Allspring Utilities and High Income Fund
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
 
Interest
rate
Maturity
date
Principal
Value
Healthcare-services(continued)
 
Surgery Center Holdings, Inc.144A
7.25
%
4-15-2032
$
95,000
$95,713
Tenet Healthcare Corp.144A
6.75
5-15-2031
 
380,000
383,480
 
 
1,704,354
Pharmaceuticals:  0.33%
 
AdaptHealth LLC144A
5.13
3-1-2030
 
255,000
222,732
Endo Finance Holdings, Inc.144A
8.50
4-15-2031
 
120,000
123,002
 
 
345,734
Energy:  6.56%
 
Energy-alternate sources:  0.72%
 
Enviva Partners LP/Enviva Partners Finance Corp.144A†
6.50
1-15-2026
 
635,000
269,875
TerraForm Power Operating LLC144A
4.75
1-15-2030
 
175,000
158,977
TerraForm Power Operating LLC144A
5.00
1-31-2028
 
335,000
319,732
 
 
748,584
Oil & gas:  1.85%
 
Aethon United BR LP/Aethon United Finance Corp.144A
8.25
2-15-2026
 
335,000
338,149
California Resources Corp.144A%%
8.25
6-15-2029
 
130,000
130,201
Crescent Energy Finance LLC144A
7.63
4-1-2032
 
5,000
5,095
Encino Acquisition Partners Holdings LLC144A
8.50
5-1-2028
 
235,000
239,584
Encino Acquisition Partners Holdings LLC144A
8.75
5-1-2031
 
150,000
155,121
Hilcorp Energy I LP/Hilcorp Finance Co.144A
5.75
2-1-2029
 
85,000
82,110
Hilcorp Energy I LP/Hilcorp Finance Co.144A
6.00
4-15-2030
 
30,000
28,950
Hilcorp Energy I LP/Hilcorp Finance Co.144A
6.00
2-1-2031
 
170,000
161,967
Hilcorp Energy I LP/Hilcorp Finance Co.144A
6.25
11-1-2028
 
170,000
167,831
Hilcorp Energy I LP/Hilcorp Finance Co.144A
6.25
4-15-2032
 
30,000
28,758
Hilcorp Energy I LP/Hilcorp Finance Co.144A
8.38
11-1-2033
 
15,000
16,046
Nabors Industries Ltd.144A
7.50
1-15-2028
 
190,000
180,794
Nabors Industries, Inc.144A
9.13
1-31-2030
 
240,000
247,822
Southwestern Energy Co.
8.38
9-15-2028
 
110,000
113,576
Talos Production, Inc.144A
9.00
2-1-2029
 
45,000
47,208
 
 
1,943,212
Oil & gas services:  0.71%
 
Bristow Group, Inc.144A
6.88
3-1-2028
 
475,000
464,587
Oceaneering International, Inc.
6.00
2-1-2028
 
280,000
275,880
 
 
740,467
Pipelines:  3.28%
 
Antero Midstream Partners LP/Antero Midstream Finance Corp.144A
6.63
2-1-2032
 
130,000
130,168
Buckeye Partners LP144A
4.50
3-1-2028
 
25,000
23,364
Buckeye Partners LP
5.85
11-15-2043
 
150,000
128,024
CQP Holdco LP/BIP-V Chinook Holdco LLC144A
5.50
6-15-2031
 
300,000
281,137
CQP Holdco LP/BIP-V Chinook Holdco LLC144A
7.50
12-15-2033
 
260,000
267,144
DT Midstream, Inc.144A
4.13
6-15-2029
 
85,000
77,728
DT Midstream, Inc.144A
4.38
6-15-2031
 
65,000
58,385
Energy Transfer LP (5 Year Treasury Constant Maturity+4.02%)±
8.00
5-15-2054
 
40,000
41,642
See accompanying notes to portfolio of investments
Allspring Utilities and High Income Fund | 5
Portfolio of investments—May 31, 2024 (unaudited)
 
 
 
 
Interest
rate
Maturity
date
Principal
Value
Pipelines(continued)
 
Energy Transfer LP Series H (5 Year Treasury Constant
Maturity+5.69%)ʊ±
6.50
%
11-15-2026
$
70,000
$68,568
EnLink Midstream Partners LP
5.60
4-1-2044
 
65,000
57,063
Harvest Midstream I LP144A
7.50
9-1-2028
 
250,000
253,689
Harvest Midstream I LP144A
7.50
5-15-2032
 
125,000
126,695
Hess Midstream Operations LP144A
5.50
10-15-2030
 
80,000
76,782
Hess Midstream Operations LP144A
6.50
6-1-2029
 
40,000
40,448
Kinetik Holdings LP144A
5.88
6-15-2030
 
240,000
233,877
Kinetik Holdings LP144A
6.63
12-15-2028
 
45,000
45,475
Prairie Acquiror LP144A
9.00
8-1-2029
 
180,000
184,981
Rockies Express Pipeline LLC144A
6.88
4-15-2040
 
285,000
270,840
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.144A
6.00
12-31-2030
 
270,000
254,459
Venture Global Calcasieu Pass LLC144A
6.25
1-15-2030