C&B Mid Cap Value Fund Summary

Investment Objective

The Fund seeks maximum long-term total return (current income and capital appreciation), consistent with minimizing risk to principal.

Fees and Expenses

These tables are intended to help you understand the various costs and expenses you will pay if you buy, hold and sell shares of the Fund.


Shareholder Fees (fees paid directly from your investment)
Maximum sales charge (load) imposed on purchases (as a percentage of offering price)	None
Maximum deferred sales charge (load) (as a percentage of offering price)	None


Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees	0.75%
Distribution (12b-1) Fees	0.00%
Other Expenses	0.13%
Total Annual Fund Operating Expenses	0.88%
Fee Waivers	(0.08)%
Total Annual Fund Operating Expenses After Fee Waivers¹	0.80%

The Manager has contractually committed through January 31, 2025, to waive fees and/or reimburse expenses to the extent necessary to cap Total Annual Fund Operating Expenses After Fee Waiver at 0.80% for Class R6. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense 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.

Example of Expenses

The example below is intended to help you compare the costs of investing in the Fund with the costs of investing in other funds. The example assumes a $10,000 initial investment, 5% annual total return, and that fees and expenses remain the same as in the tables above. To the extent that the Manager is waiving fees or reimbursing expenses, the example assumes that such waiver or reimbursement will only be in place through the date noted above. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:


After:
1 Year	$82
3 Years	$273
5 Years	$480
10 Years	$1,077

Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or ?turns over? its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund?s performance. During the most recent fiscal year, the Fund?s portfolio turnover rate was 24% of the average value of its portfolio.

Principal Investment Strategies

Under normal circumstances, we invest:

■	at least 80% of the Fund?s net assets in equity securities of medium-capitalization companies.

We invest principally in equity securities of medium-capitalization companies, which we define as securities of companies with market capitalization within the range of the Russell Midcap? Index at the time of purchase. The market capitalization range of the Russell Midcap? Index was approximately $270 million to $73.29 billion, as of December 31, 2023, and is expected to change frequently.

We manage a relatively focused portfolio of 30 to 50 companies that we believe enables us to provide adequate diversification while allowing the composition and performance of the portfolio to behave differently than the market.

We select securities for the portfolio based on an analysis of a company?s financial characteristics and an assessment of the quality of a company?s management. In selecting a company, we consider criteria such as return on equity, balance sheet strength, industry leadership position and cash flow projections. We further narrow the universe of acceptable investments by undertaking intensive research including interviews with a company?s top management, customers and suppliers. We believe our assessment of business quality and emphasis on valuation will protect the portfolio?s assets in down markets, while our insistence on strength in leadership, financial condition and cash flow position will produce competitive results in all but the most speculative markets. We regularly review the investments of the portfolio and may sell a portfolio holding when it has achieved its valuation target, there is deterioration in the underlying fundamentals of the business, or we have identified a more attractive investment opportunity.

Principal Investment Risks

An investment in the Fund may lose money, is not a deposit of a bank or its affiliates, is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, and is primarily subject to the risks briefly summarized below.

Market Risk. The values of, and/or the income generated by, securities held by the Fund may decline due to general market conditions or other factors, including those directly involving the issuers of such securities. Securities markets are volatile and may decline significantly in response to adverse issuer, regulatory, political, or economic developments. Different sectors of the market and different security types may react differently to such developments.

Smaller Company Securities Risk. Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than those of larger companies.

Focused Portfolio Risk. Changes in the value of a small number of issuers are likely to have a larger impact on a Fund?s net asset value than if the Fund held a greater number of issuers.

Growth/Value Investing Risk. Securities that exhibit growth or value characteristics tend to perform differently and shift into and out of favor with investors depending on changes in market and economic sentiment and conditions.

Management Risk. Investment decisions, techniques, analyses or models implemented by a Fund?s manager or sub-adviser in seeking to achieve the Fund?s investment objective may not produce expected returns, may cause the Fund?s shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

Performance

The following information provides some indication of the risks of investing in the Fund by showing changes in the Fund?s performance from year to year. The Fund?s average annual total returns are compared to the performance of one or more indices. Past performance before and after taxes is no guarantee of future results. Current month-end performance is available on the Fund?s website at www.allspringglobal.com.


Calendar Year Total Returns for Class R6 as of 12/31 each year¹
	Highest Quarter: December 31, 2020	+23.64%
	Lowest Quarter: March 31, 2020	-33.90%


Average Annual Total Returns for the periods ended 12/31/2023¹
	Inception Date of Share Class	1 Year	5 Year	10 Year
Class R6	7/31/2018	19.55%	11.99%	8.25%
Russell 3000? Index (reflects no deduction for fees, expenses, or taxes)		25.96%	15.16%	11.48%
Russell Midcap? Value Index (reflects no deduction for fees, expenses, or taxes)		12.71%	11.16%	8.26%

Historical performance shown for the Class R6 shares prior to their inception reflects the performance of the Institutional Class shares, and includes the higher expenses applicable to the Institutional Class shares. If these expenses had not been included, returns for the Class R6 shares would be higher.

Fund Management


Manager	Sub-Adviser	Portfolio Manager, Title/Managed Since
Allspring Funds Management, LLC	Cooke & Bieler, L.P.	Andrew B. Armstrong, CFA, Portfolio Manager / 2015 Wesley Lim, CFA, Portfolio Manager / 2019 Steve Lyons, CFA, Portfolio Manager / 2009 Michael M. Meyer, CFA, Portfolio Manager / 1998 Edward W. O?Connor, CFA, Portfolio Manager / 2002 R. James O?Neil, CFA, Portfolio Manager / 1998 Mehul Trivedi, CFA, Portfolio Manager / 1998 William Weber, CFA, Portfolio Manager / 2011

Purchase and Sale of Fund Shares

Class R6 shares generally are available only to certain retirement plans, including: 401(k) plans, 457 plans, profit sharing and money purchase pension plans, defined benefit plans, target benefit plans, and non-qualified deferred compensation plans. Class R6 shares also are generally available only to retirement plans where plan level or omnibus accounts are held on the books of the Fund. Class R6 shares also are available to funds of funds including those managed by Allspring Funds Management. Class R6 shares generally are not available to retail accounts but may be offered through intermediaries for the accounts of their customers to certain institutional and fee-based investors, and in each case, only if a dealer agreement is in place with Allspring Funds Distributor, LLC to offer Class R6 shares.

Institutions Purchasing Fund Shares

Minimum Initial Investment
Class R6: Eligible investors are not subject to a minimum initial investment (intermediaries may require different minimum investment amounts)

Minimum Additional Investment
Class R6: None (intermediaries may require different minimum additional investment amounts)

Tax Information

By investing in a Fund through a tax-deferred retirement account, you will not be subject to tax on dividends and capital gains distributions from the Fund or the sale of Fund shares if those amounts remain in the tax-deferred account.

Distributions taken from retirement plan accounts generally are taxable as ordinary income. For special rules concerning tax-deferred retirement accounts, including applications, restrictions, tax advantages, and potential sales charge waivers, contact your investment professional. To determine if a retirement plan may be appropriate for you and to obtain further information, consult your tax adviser.

Common Stock Fund Summary

Investment Objective

The Fund seeks long-term capital appreciation.

Fees and Expenses

These tables are intended to help you understand the various costs and expenses you will pay if you buy, hold and sell shares of the Fund.


Shareholder Fees (fees paid directly from your investment)
Maximum sales charge (load) imposed on purchases (as a percentage of offering price)	None
Maximum deferred sales charge (load) (as a percentage of offering price)	None


Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees	0.78%
Distribution (12b-1) Fees	0.00%
Other Expenses	0.06%
Acquired Fund Fees and Expenses	0.01%
Total Annual Fund Operating Expenses	0.85%
Fee Waivers	(0.01)%
Total Annual Fund Operating Expenses After Fee Waivers¹	0.84%

The Manager has contractually committed through January 31, 2025, to waive fees and/or reimburse expenses to the extent necessary to cap Total Annual Fund Operating Expenses After Fee Waiver at 0.83% for Class R6. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense 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.

Example of Expenses


After:
1 Year	$86
3 Years	$270
5 Years	$470
10 Years	$1,048

Portfolio Turnover

Principal Investment Strategies

Under normal circumstances, we invest:

■	at least 80% of the Fund?s net assets in common stocks; and

■	up to 25% of the Fund?s total assets in equity securities of foreign issuers, including ADRs and similar investments.

We invest principally in common stocks of small-and medium-capitalization domestic and foreign companies, which we define as those with market capitalizations falling within the ranges of the Russell 2000? Index and the Russell Midcap? Index at the time of purchase. The ranges of the Russell 2000? Index and the Russell Midcap? Index were approximately $10 million to $15.15 billion and $270 million to $73.29 billion, respectively, as of December 31, 2023, and are expected to change frequently.

We invest principally in common stocks of small-and medium-capitalization companies that we believe are underpriced yet have attractive growth prospects. Our analysis is based on the determination of a company?s ?private market valuation,? which is the price an investor would be willing to pay for the entire company. We determine a company?s private market valuation based upon several different types of analysis. We carry out a fundamental analysis of a company?s cash flows, asset valuations, competitive factors, and other industry specific factors. We also gauge the company?s management strength, financial health, and growth potential in determining a company?s private market valuation. We place an emphasis on company management, even meeting with management in certain situations. Finally, we focus on the long-term strategic direction of the company. We then compare the private market valuation as determined by these factors to the company?s public market valuation, and invest in the securities of those companies where we believe there is a significant gap between the two. As part of our investment process, an assessment of environmental, social and governance (ESG) factors that are deemed to have material business and/or financial risk may be considered alongside other relevant factors. The ESG factors utilized in the Fund?s investment process may change over time, some factors may not be relevant with respect to all stocks and may or may not be determinative in the security selection process.

We may sell an investment when its price no longer compares favorably with the company?s private market valuation. In addition, we may choose to sell an investment where the fundamentals deteriorate or the strategy of the management or the management itself changes.

Principal Investment Risks

Smaller Company Securities Risk. Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than those of larger companies.

Foreign Investment Risk. Foreign investments may be subject to lower liquidity, greater price volatility and risks related to adverse political, regulatory, market or economic developments. Foreign investments may involve exposure to changes in foreign currency exchange rates and may be subject to higher withholding and other taxes.

Performance


Calendar Year Total Returns for Class R6 as of 12/31 each year¹
	Highest Quarter: December 31, 2020	+26.93%
	Lowest Quarter: March 31, 2020	-32.29%


Average Annual Total Returns for the periods ended 12/31/2023¹
	Inception Date of Share Class	1 Year	5 Year	10 Year
Class R6	6/28/2013	16.39%	11.72%	8.34%
Russell 3000? Index (reflects no deduction for fees, expenses, or taxes)		25.96%	15.16%	11.48%
Russell 2500? Index (reflects no deduction for fees, expenses, or taxes)		17.42%	11.67%	8.36%

Fund Management


Manager	Sub-Adviser	Portfolio Manager, Title / Managed Since
Allspring Funds Management, LLC	Allspring Global Investments, LLC	Christopher G. Miller, CFA, Portfolio Manager / 2017 Garth B. Newport, CFA, Portfolio Manager / 2020

Purchase and Sale of Fund Shares

Institutions Purchasing Fund Shares

Tax Information

Discovery Mid Cap Growth Fund Summary

Investment Objective

The Fund seeks long-term capital appreciation.

Fees and Expenses

These tables are intended to help you understand the various costs and expenses you will pay if you buy, hold and sell shares of the Fund.


Shareholder Fees (fees paid directly from your investment)
Maximum sales charge (load) imposed on purchases (as a percentage of offering price)	None
Maximum deferred sales charge (load) (as a percentage of offering price)	None


Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)¹
Management Fees	0.75%
Distribution (12b-1) Fees	0.00%
Other Expenses	0.07%
Total Annual Fund Operating Expenses	0.82%
Fee Waivers	(0.02)%
Total Annual Fund Operating Expenses After Fee Waivers²	0.80%

1.	Expenses have been adjusted as necessary from amounts incurred during the Fund?s most recent fiscal year to reflect current fees and expenses.

Example of Expenses


After:
1 Year	$82
3 Years	$260
5 Years	$453
10 Years	$1,012

Portfolio Turnover

Principal Investment Strategies

Under normal circumstances, we invest:

■	at least 80% of the Fund?s net assets in equity securities of medium-capitalization companies; and

■	up to 25% of the Fund?s total assets in equity securities of foreign issuers through ADRs and similar investments.

We seek to identify companies that have the prospect for strong sales and earnings growth rates, that enjoy a competitive advantage (for example, dominant market share) and that we believe have effective management with a history of making investments that are in the best interests of shareholders (for example, companies with a history of earnings and sales growth that are in excess of total asset growth). Furthermore, we seek to identify companies that embrace innovation and foster disruption using technology to maximize efficiencies, gain pricing advantages, and take market share from competitors. We view innovative companies as those that, among other characteristics, have the ability to advance new products or services through investment in research and development, that operate a business model that is displacing legacy industry incumbents, that are pursuing a large unmet need or total available market. We believe innovation found in companies on the ?right side of change? is often mispriced in today?s public equity markets and is a frequent signal or anomaly that we seek to exploit through our investment process. An important criteria for ?right side of change? companies is that they are benefitting from changes in technological, demographic, lifestyle, or environmental trends. We pay particular attention to how management teams allocate capital in order to drive future cash flow. This includes the allocation of human capital, financial capital, and social capital. We believe successful allocation of such resources has a correlation with key indicators of future performance. Price objectives are determined based on industry-specific valuation methodologies, including relative price-to-earnings multiples, price-to-book value, operating profit margin trends, enterprise value to EBITDA (earnings before interest, taxes, depreciation and amortization) and free cash flow yield. In addition to meeting with management, we take a surround the company approach by surveying a company?s vendors, distributors, competitors and customers to obtain multiple perspectives that help us make better investment decisions. Portfolio holdings are continuously monitored for changes in fundamentals. The team seeks a favorable risk/reward relationship to fair valuation, which we define as the value of the company (i.e., our price target for the stock) relative to where the stock is currently trading. We may invest in any sector, and at times the Fund may emphasize one or more particular sectors. We may choose to sell a holding when it no longer offers favorable growth prospects, reaches our target price, or to take advantage of a better investment opportunity.

Principal Investment Risks

Smaller Company Securities Risk. Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than those of larger companies.

Foreign Investment Risk. Foreign investments may be subject to lower liquidity, greater price volatility and risks related to adverse political, regulatory, market or economic developments. Foreign investments may involve exposure to changes in foreign currency exchange rates and may be subject to higher withholding and other taxes.

Performance


Calendar Year Total Returns for Class R6 as of 12/31 each year¹
	Highest Quarter: June 30, 2020	+34.67%
	Lowest Quarter: June 30, 2022	-28.15%


Average Annual Total Returns for the periods ended 12/31/2023¹
	Inception Date of Share Class	1 Year	5 Year	10 Year
Class R6	10/31/2014	24.42%	10.99%	8.07%
Russell 3000? Index (reflects no deduction for fees, expenses, or taxes)		25.96%	15.16%	11.48%
Russell Midcap? Growth Index (reflects no deduction for fees, expenses, or taxes)		25.87%	13.81%	10.57%

Fund Management


Manager	Sub-Adviser	Portfolio Manager, Title/Managed Since
Allspring Funds Management, LLC	Allspring Global Investments, LLC	Michael T. Smith, CFA, Portfolio Manager / 2011 Christopher J. Warner, CFA, Portfolio Manager / 2012

Purchase and Sale of Fund Shares

Institutions Purchasing Fund Shares

Tax Information

Discovery SMID Cap Growth Fund Summary

Investment Objective

The Fund seeks long-term capital appreciation.

Fees and Expenses

These tables are intended to help you understand the various costs and expenses you will pay if you buy, hold and sell shares of the Fund.


Shareholder Fees (fees paid directly from your investment)
Maximum sales charge (load) imposed on purchases (as a percentage of offering price)	None
Maximum deferred sales charge (load) (as a percentage of offering price)	None


Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees	0.76%
Distribution (12b-1) Fees	0.00%
Other Expenses	0.05%
Total Annual Fund Operating Expenses	0.81%
Fee Waivers	(0.02)%
Total Annual Fund Operating Expenses After Fee Waivers¹	0.79%

The Manager has contractually committed through January 31, 2025, to waive fees and/or reimburse expenses to the extent necessary to cap Total Annual Fund Operating Expenses After Fee Waiver at 0.79% for Class R6. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense 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.

Example of Expenses


After:
1 Year	$81
3 Years	$257
5 Years	$448
10 Years	$1,000

Portfolio Turnover

Principal Investment Strategies

Under normal circumstances, we invest:

■	at least 80% of the Fund?s net assets in equity securities of small- and medium-capitalization companies; and

■	up to 25% of the Fund?s total assets in equity securities of foreign issuers through ADRs and similar investments.

We invest in equity securities of small- and medium-capitalization companies that we believe offer favorable opportunities for growth. We define small- and medium capitalization companies as those with market capitalizations at the time of purchase equal to or lower than the company with the largest market capitalization in the Russell Midcap? Index, which was approximately $73.29 billion, as of December 31, 2023, and is expected to change frequently. We may also invest in equity securities of foreign issuers through ADRs and similar investments.

Principal Investment Risks

Smaller Company Securities Risk. Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than those of larger companies.

Foreign Investment Risk. Foreign investments may be subject to lower liquidity, greater price volatility and risks related to adverse political, regulatory, market or economic developments. Foreign investments may involve exposure to changes in foreign currency exchange rates and may be subject to higher withholding and other taxes.

Performance


Calendar Year Total Returns for Class R6 as of 12/31 each year¹
	Highest Quarter: June 30, 2020	+36.08%
	Lowest Quarter: June 30, 2022	-25.22%


Average Annual Total Returns for the periods ended 12/31/2023¹
	Inception Date of Share Class	1 Year	5 Year	10 Year
Class R6	6/28/2013	20.62%	10.25%	7.80%
Russell 3000? Index (reflects no deduction for fees, expenses, or taxes)		25.96%	15.16%	11.48%
Russell 2500? Growth Index (reflects no deduction for fees, expenses, or taxes)		18.93%	11.43%	8.78%

Fund Management


Manager	Sub-Adviser	Portfolio Manager, Title / Managed Since
Allspring Funds Management, LLC	Allspring Global Investments, LLC	Michael T. Smith, CFA, Portfolio Manager / 2011 Christopher J. Warner, CFA, Portfolio Manager / 2012

Purchase and Sale of Fund Shares

Institutions Purchasing Fund Shares

Tax Information

Opportunity Fund Summary

Investment Objective

The Fund seeks long-term capital appreciation.

Fees and Expenses

These tables are intended to help you understand the various costs and expenses you will pay if you buy, hold and sell shares of the Fund.


Shareholder Fees (fees paid directly from your investment)
Maximum sales charge (load) imposed on purchases (as a percentage of offering price)	None
Maximum deferred sales charge (load) (as a percentage of offering price)	None


Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)¹
Management Fees	0.72%
Distribution (12b-1) Fees	0.00%
Other Expenses	0.05%
Total Annual Fund Operating Expenses	0.77%
Fee Waivers	(0.05)%
Total Annual Fund Operating Expenses After Fee Waivers²	0.72%

1.	Expenses have been adjusted as necessary from amounts incurred during the Fund?s most recent fiscal year to reflect current fees and expenses.

The Manager has contractually committed through January 31, 2025, to waive fees and/or reimburse expenses to the extent necessary to cap Total Annual Fund Operating Expenses After Fee Waiver at 0.72% for Class R6. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense 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.

Example of Expenses


After:
1 Year	$74
3 Years	$241
5 Years	$423
10 Years	$949

Portfolio Turnover

Principal Investment Strategies

Under normal circumstances, we invest:

■	at least 80% of the Fund?s total assets in equity securities; and

■	up to 25% of the Fund?s total assets in equity securities of foreign issuers, including ADRs and similar investments.

We may invest in the equity securities of companies of any market capitalization.

We invest in equity securities of companies that we believe are underpriced yet have attractive growth prospects. Our analysis is based on the determination of a company?s ?private market valuation,? which is the price an investor would be willing to pay for the entire company. We determine a company?s private market valuation based upon several types of analysis. We carry out a fundamental analysis of a company?s cash flows, asset valuations, competitive situation and industry specific factors. We also gauge the company?s management strength, financial health, and growth potential in determining a company?s private market valuation. We place an emphasis on a company?s management, even meeting with management in certain situations. Finally, we focus on the long-term strategic direction of a company. We then compare the private market valuation as determined by these factors to the company?s public market price, and invest in the equity securities of those companies where we believe there is a significant gap between the two. As part of our investment process, an assessment of environmental, social and governance (ESG) factors that are deemed to have material business and/or financial risk may be considered alongside other relevant factors. The ESG factors utilized in the Fund?s investment process may change over time, some factors may not be relevant with respect to all stocks and may or may not be determinative in the security selection process.

We may sell an investment when its market valuation no longer compares favorably with the company?s private market valuation. In addition, we may choose to sell an investment where the fundamentals deteriorate or the strategy of the management or the management itself changes.

Principal Investment Risks

Foreign Investment Risk. Foreign investments may be subject to lower liquidity, greater price volatility and risks related to adverse political, regulatory, market or economic developments. Foreign investments may involve exposure to changes in foreign currency exchange rates and may be subject to higher withholding and other taxes.

Smaller Company Securities Risk. Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than those of larger companies.

Fund Management


Manager	Sub-Adviser	Portfolio Manager, Title / Managed Since
Allspring Funds Management, LLC	Allspring Global Investments, LLC	Christopher G. Miller, CFA, Portfolio Manager / 2017

Purchase and Sale of Fund Shares

Institutions Purchasing Fund Shares

Tax Information

Special Mid Cap Value Fund Summary

Investment Objective

The Fund seeks long-term capital appreciation.

Fees and Expenses

These tables are intended to help you understand the various costs and expenses you will pay if you buy, hold and sell shares of the Fund.


Shareholder Fees (fees paid directly from your investment)
Maximum sales charge (load) imposed on purchases (as a percentage of offering price)	None
Maximum deferred sales charge (load) (as a percentage of offering price)	None


Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees	0.66%
Distribution (12b-1) Fees	0.00%
Other Expenses	0.04%
Total Annual Fund Operating Expenses	0.70%
Fee Waivers	0.00%
Total Annual Fund Operating Expenses After Fee Waivers¹	0.70%

The Manager has contractually committed through January 31, 2025, to waive fees and/or reimburse expenses to the extent necessary to cap Total Annual Fund Operating Expenses After Fee Waiver at 0.73% for Class R6. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense 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.

Example of Expenses


After:
1 Year	$72
3 Years	$224
5 Years	$390
10 Years	$871

Portfolio Turnover

Principal Investment Strategies

Under normal circumstances, we invest:

■	at least 80% of the Fund?s net assets in equity securities of medium-capitalization companies.

We invest principally in equity securities of medium-capitalization companies, which we define as securities of companies with market capitalizations within the range of the Russell Midcap? Index at the time of purchase. The market capitalization range of the Russell Midcap? Index was approximately $270 million to $73.29 billion, as of December 31, 2023, and is expected to change frequently.

We look for undervalued companies that we believe have the potential for above average capital appreciation with below average risk. Rigorous fundamental research drives our search for companies with favorable reward-to-risk ratios and that possess, a long-term competitive advantage provided by a durable asset base, strong balance sheets, and sustainable and superior cash flows. Typical investments include stocks of companies that are generally out of favor in the marketplace, or are undergoing reorganization or other corporate action that may create above-average price appreciation. We regularly review the investments of the portfolio and may sell a portfolio holding when a stock nears its price target, downside risks increase considerably, the company?s fundamentals have deteriorated, or we identify a more attractive investment opportunity.

Principal Investment Risks

Smaller Company Securities Risk. Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than those of larger companies.

Performance


Calendar Year Total Returns for Class R6 as of 12/31 each year¹
	Highest Quarter: December 31, 2020	+19.92%
	Lowest Quarter: March 31, 2020	-31.71%


Average Annual Total Returns for the periods ended 12/31/2023¹
	Inception Date of Share Class	1 Year	5 Year	10 Year
Class R6	6/28/2013	9.62%	13.59%	9.29%
Russell 3000? Index (reflects no deduction for fees, expenses, or taxes)		25.96%	15.16%	11.48%
Russell Midcap? Value Index (reflects no deduction for fees, expenses, or taxes)		12.71%	11.16%	8.26%

Fund Management


Manager	Sub-Adviser	Portfolio Manager, Title/Managed Since
Allspring Funds Management, LLC	Allspring Global Investments, LLC	James M. Tringas, CFA, Portfolio Manager / 2009 Bryant VanCronkhite, CFA, CPA, Portfolio Manager / 2009 Shane Zweck, CFA, Portfolio Manager / 2019

Purchase and Sale of Fund Shares

Institutions Purchasing Fund Shares

Tax Information

Details About the Funds

C&B Mid Cap Value Fund

Investment Objective

The Fund seeks maximum long-term total return (current income and capital appreciation), consistent with minimizing risk to principal.

The Fund?s Board of Trustees can change this investment objective without a shareholder vote.

Principal Investment Strategies

Under normal circumstances, we invest:

■	at least 80% of the Fund?s net assets in equity securities of medium-capitalization companies.

We may actively trade portfolio securities, which may lead to higher transaction costs that may affect the Fund?s performance. In addition, active trading of portfolio securities may lead to higher taxes if your shares are held in a taxable account.

The Fund may hold some of its assets in cash or in money market instruments, including U.S. Government obligations, shares of other funds and repurchase agreements, or make other short-term investments for purposes of maintaining liquidity or for short-term defensive purposes when we believe it is in the best interests of the shareholders to do so. During such periods, the Fund may not achieve its objective.

Principal Investment Risks

The Fund is primarily subject to the risks mentioned below.

■

Market Risk

■

Equity Securities Risk

■

Smaller Company Securities Risk

■

Focused Portfolio Risk

■

Growth/Value Investing Risk

■

Management Risk

These and other risks could cause you to lose money in your investment in the Fund and could adversely affect the Fund?s net asset value and total return. These risks are described in the ?Description of Principal Investment Risks? section.

Common Stock Fund

Investment Objective

The Fund seeks long-term capital appreciation.

The Fund?s Board of Trustees can change this investment objective without a shareholder vote.

Principal Investment Strategies

Under normal circumstances, we invest:

■	at least 80% of the Fund?s net assets in common stocks; and

■	up to 25% of the Fund?s total assets in equity securities of foreign issuers, including ADRs and similar investments.

Principal Investment Risks

The Fund is primarily subject to the risks mentioned below.

■

Market Risk

■

Equity Securities Risk

■

Smaller Company Securities Risk

■

Foreign Investment Risk

■

Growth/Value Investing Risk

■

Management Risk

Discovery Mid Cap Growth Fund

Investment Objective

The Fund seeks long-term capital appreciation.

The Fund?s Board of Trustees can change this investment objective without a shareholder vote.

Principal Investment Strategies

Under normal circumstances, we invest:

■	at least 80% of the Fund?s net assets in equity securities of medium-capitalization companies; and

■	up to 25% of the Fund?s total assets in equity securities of foreign issuers through ADRs and similar investments.

Discovery SMID Cap Growth Fund

Investment Objective

The Fund seeks long-term capital appreciation.

The Fund?s Board of Trustees can change this investment objective without a shareholder vote.

Principal Investment Strategies

Under normal circumstances, we invest:

■	at least 80% of the Fund?s net assets in equity securities of small- and medium-capitalization companies; and

■	up to 25% of the Fund?s total assets in equity securities of foreign issuers through ADRs and similar investments.

Opportunity Fund

Investment Objective

The Fund seeks long-term capital appreciation.

The Fund?s Board of Trustees can change this investment objective without a shareholder vote.

Principal Investment Strategies

Under normal circumstances, we invest:

■	at least 80% of the Fund?s total assets in equity securities; and

■	up to 25% of the Fund?s total assets in equity securities of foreign issuers, including ADRs and similar investments.

We may invest in the equity securities of companies of any market capitalization.

Principal Investment Risks

The Fund is primarily subject to the risks mentioned below.

■

Market Risk

■

Equity Securities Risk

■

Foreign Investment Risk

■

Growth/Value Investing Risk

■

Management Risk

■

Smaller Company Securities Risk

Special Mid Cap Value Fund

Investment Objective

The Fund seeks long-term capital appreciation.

The Fund?s Board of Trustees can change this investment objective without a shareholder vote.

Principal Investment Strategies

Under normal circumstances, we invest:

■	at least 80% of the Fund?s net assets in equity securities of medium-capitalization companies.

Principal Investment Risks

The Fund is primarily subject to the risks mentioned below.

■

Market Risk

■

Equity Securities Risk

■

Smaller Company Securities Risk

■

Growth/Value Investing Risk

■

Management Risk

Description of Principal Investment Risks

Understanding the risks involved in fund investing will help you make an informed decision that takes into account your risk tolerance and preferences. The risks that are most likely to have a material effect on a particular Fund as a whole are called ?principal risks.? The principal risks for each Fund have been previously identified and are described below (in alphabetical order). Additional information about the principal risks is included in the Statement of Additional Information.

Equity Securities Risk. The values of equity securities may experience periods of substantial price volatility and may decline significantly over short time periods. In general, the values of equity securities are more volatile than those of debt securities. Equity securities fluctuate in value and price in response to factors specific to the issuer of the security, such as management performance, financial condition, and market demand for the issuer?s products or services, as well as factors unrelated to the fundamental condition of the issuer, including general market, economic and political conditions. Investing in equity securities poses risks specific to an issuer, as well as to the particular type of company issuing the equity securities. For example, investing in the equity securities of small- or mid-capitalization companies can involve greater risk than is customarily associated with investing in stocks of larger, more-established companies. Different parts of a market, industry and sector may react differently to adverse issuer, market, regulatory, political, and economic developments. Negative news or a poor outlook for a particular industry or sector can cause the share prices of securities of companies in that industry or sector to decline. This risk may be heightened for a Fund that invests a substantial portion of its assets in a particular industry or sector.

Focused Portfolio Risk. Changes in the value of a small number of issuers are likely to have a larger impact on a Fund?s net asset value than if the Fund held a greater number of issuers.

Foreign Investment Risk. Foreign investments may be subject to lower liquidity, greater price volatility and risks related to adverse political, regulatory, market or economic developments. Foreign companies may be subject to significantly higher levels of taxation than U.S. companies, including potentially confiscatory levels of taxation, thereby reducing the earnings potential of such foreign companies. Foreign investments may involve exposure to changes in foreign currency exchange rates. Such changes may reduce the U.S. dollar value of the investments. Foreign investments may be subject to additional risks, such as potentially higher withholding and other taxes, and may also be subject to greater trade settlement, custodial, and other operational risks than domestic investments. Certain foreign markets may also be characterized by less stringent investor protection and disclosure standards.

Growth/Value Investing Risk. Securities that exhibit certain characteristics, such as growth characteristics or value characteristics, tend to perform differently and shift into and out of favor with investors depending on changes in market and economic sentiment and conditions. As a result, a Fund?s performance may at times be worse than the performance of other mutual funds that invest more broadly or in securities that exhibit different characteristics.

Management Risk. Investment decisions, techniques, analyses or models implemented by a Fund?s manager or sub-adviser in seeking to achieve the Fund?s investment objective may not produce the returns expected, may cause the Fund?s shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.

Market Risk. The values of, and/or the income generated by, securities held by a Fund may decline due to general market conditions or other factors, including those directly involving the issuers of such securities. Securities markets are volatile and may decline significantly in response to adverse issuer, regulatory, political, or economic developments. Different sectors of the market and different security types may react differently to such developments. Political, geopolitical, natural and other events, including war, terrorism, trade disputes, government shutdowns, market closures, inflation, natural and environmental disasters, epidemics, pandemics and other public health crises and related events have led, and in the future may lead, to economic uncertainty, decreased economic activity, increased market volatility and other disruptive effects on U.S. and global economies and markets. Such events may have significant adverse direct or indirect effects on a Fund and its investments. In addition, economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions.

Smaller Company Securities Risk. Securities of companies with smaller market capitalizations tend to be more volatile and less liquid than those of larger companies. Smaller companies may have no or relatively short operating histories, limited financial resources or may have recently become public companies. Some of these companies have aggressive capital structures, including high debt levels, or are involved in rapidly growing or changing industries and/or new technologies.

Portfolio Holdings Information

A description of the Allspring Funds? policies and procedures with respect to disclosure of the Funds? portfolio holdings is available in the Funds? Statement of Additional Information.

Pricing Fund Shares

A Fund?s net asset value (?NAV?) is the value of a single share. The NAV is calculated as of the close of regular trading on the New York Stock Exchange (?NYSE?) (generally 4:00 p.m. Eastern time) on each day that the NYSE is open, although a Fund may deviate from this calculation time under unusual or unexpected circumstances. The NAV is calculated separately for each class of shares of a multiple-class Fund. The most recent NAV for each class of a Fund is available at allspringglobal.com. To calculate the NAV of a Fund?s shares, the Fund?s assets are valued and totaled, liabilities are subtracted, and the balance, called net assets, is divided by the number of shares outstanding. The price at which a purchase or redemption request is processed is based on the next NAV calculated after the request is received in good order. Generally, NAV is not calculated, and purchase and redemption requests are not processed, on days that the NYSE is closed for trading; however, under unusual or unexpected circumstances, a Fund may elect to remain open even on days that the NYSE is closed or closes early. To the extent that a Fund?s assets are traded in various markets on days when the Fund is closed, the value of the Fund?s assets may be affected on days when you are unable to buy or sell Fund shares. Conversely, trading in some of a Fund?s assets may not occur on days when the Fund is open.

With respect to any portion of a Fund?s assets that may be invested in other mutual funds, the value of the Fund?s shares is based on the NAV of the shares of the other mutual funds in which the Fund invests. The valuation methods used by mutual funds in pricing their shares, including the circumstances under which they will use fair value pricing and the effects of using fair value pricing, are included in the prospectuses of such funds. To the extent a Fund invests a portion of its assets in non-registered investment vehicles, the Fund?s interests in the non-registered vehicles are fair valued at NAV.

With respect to a Fund?s assets invested directly in securities, the Fund?s investments are generally valued at current market prices. Equity securities, options and futures are generally valued at the official closing price or, if none, the last reported sales price on the primary exchange or market on which they are listed (closing price). Equity securities that are not traded primarily on an exchange are generally valued at the quoted bid price obtained from a broker-dealer.

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

We are required to depart from these general valuation methods and use fair value pricing methods to determine the values of certain investments if we believe that the closing price or the quoted bid price of a security, including a security that trades primarily on a foreign exchange, does not accurately reflect its current market value as of the time a Fund calculates its NAV. The closing price or the quoted bid price of a security may not reflect its current market value if, among other things, a significant event occurs after the closing price or quoted bid price are made available, but before the time as of which a Fund calculates its NAV, that materially affects the value of the security. We use various criteria, including a systemic evaluation of U.S. market moves after the close of foreign markets, in deciding whether a foreign security?s market price is still reliable and, if not, what fair market value to assign to the security. In addition, we use fair value pricing to determine the value of investments in securities and other assets, including illiquid securities, for which current market quotations or evaluated prices from a pricing service or broker-dealer are not readily available.

The fair value of a Fund?s securities and other assets is determined in good faith pursuant to policies and procedures adopted by the Fund?s Board of Trustees. Pursuant to such policies and procedures, the Board has appointed the Manager as the Fund?s valuation designee (the ?Valuation Designee?) to perform all fair valuations of the Fund?s portfolio investments, subject to the Board?s oversight. As the Valuation Designee, the Manager has established procedures for its fair valuation of the Fund?s portfolio investments. These procedures address, among other things, determining when market quotations are not readily available or reliable and the methodologies to be used for determining the fair value of investments, as well as the use and oversight of third-party pricing services for fair valuation. In light of the judgment involved in making fair value decisions, there can be no assurance that a fair value assigned to a particular security is accurate or that it reflects the price that the Fund could obtain for such security if it were to sell the security at the time as of which fair value pricing is determined. Such fair value pricing may result in NAVs that are higher or lower than NAVs based on the closing price or quoted bid price. See the Statement of Additional Information for additional details regarding the determination of NAVs.

Management of the Funds

The Manager

Allspring Funds Management, LLC (?Allspring Funds Management?), headquartered at 1415 Vantage Park Drive, 3rd Floor, Charlotte, NC 28203, provides advisory and Fund level administrative services to the Funds pursuant to an investment management agreement (the ?Management Agreement?). Allspring Funds Management is 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. Allspring Funds Management is a registered investment adviser that provides advisory services for registered mutual funds, closed-end funds and other funds and accounts.

Allspring Funds Management is responsible for implementing the investment objectives and strategies of the Funds. Allspring Funds Management?s investment professionals review and analyze the Funds? performance, including relative to peer funds, and monitor the Funds? compliance with their investment objectives and strategies. Allspring Funds Management is responsible for reporting to the Board on investment performance and other matters affecting the Funds. When appropriate, Allspring Funds Management recommends to the Board enhancements to Fund features, including changes to Fund investment objectives, strategies and policies. Allspring Funds Management also communicates with shareholders and intermediaries about Fund performance and features.

Allspring Funds Management is also responsible for providing Fund-level administrative services to the Funds, which include, among others, providing such services in connection with the Funds? operations; developing and implementing procedures for monitoring compliance with regulatory requirements and compliance with the Funds? investment objectives, policies and restrictions; and providing any other Fund-level administrative services reasonably necessary for the operation of the Funds, other than those services that are provided by the Funds? transfer and dividend disbursing agent, custodian and fund accountant.

To assist Allspring Funds Management in implementing the investment objectives and strategies of the Funds, Allspring Funds Management may contract with one or more sub-advisers to provide day-to-day portfolio management services to the Funds. Allspring Funds Management employs a team of investment professionals who identify and recommend the initial hiring of any sub-adviser and oversee and monitor the activities of any sub-adviser on an ongoing basis. Allspring Funds Management retains overall responsibility for the investment activities of the Funds.

A discussion regarding the basis for the Board?s approval of the Management Agreement and any applicable sub-advisory agreements for each Fund is available in the Fund?s Annual report for the period ended September 30th.

For each Fund?s most recent fiscal year end, the management fee paid to Allspring Funds Management pursuant to the Management Agreement, net of any applicable waivers and reimbursements, was as follows:


Management Fees Paid
	As a % of average daily net assets
C&B Mid Cap Value Fund	0.70%
Common Stock Fund	0.76%
Discovery Mid Cap Growth Fund	0.72%
Discovery SMID Cap Growth Fund	0.75%
Opportunity Fund	0.70%
Special Mid Cap Value Fund	0.66%

The Sub-Advisers and Portfolio Managers

The following sub-advisers and portfolio managers provide day-to-day portfolio management services to the Funds. These services include making purchases and sales of securities and other investment assets for the Funds, selecting broker-dealers, negotiating brokerage commission rates and maintaining portfolio transaction records. The sub-advisers are compensated for its services by Allspring Funds Management from the fees Allspring Funds Management receives for its services as manager to the Funds. The Statement of Additional Information provides additional information about the portfolio managers? compensation, other accounts managed by the portfolio managers and the portfolio managers? ownership of securities in the Funds.

Cooke & Bieler, L.P. (?Cooke & Bieler?), is a registered investment adviser located at Two Commerce Square, 2001 Market Street, Suite 4000, Philadelphia, PA 19103. Cooke & Bieler provides investment management services to registered investment companies, corporations, foundations, endowments, pension and profit sharing plans, trusts, estates and other institutions and individuals.


Andrew B. Armstrong, CFA C&B Mid Cap Value Fund	Mr. Armstrong rejoined Cooke & Bieler in 2014, where he currently serves as a Partner, Portfolio Manager and Research Analyst.
Wesley Lim, CFA C&B Mid Cap Value Fund	Mr. Lim joined Cooke & Bieler in 2018, where he currently serves as a Principal, Portfolio Manager and Research Analyst. Prior to joining Cooke & Bieler, he worked in various capacities for the Government of Singapore before receiving his MBA from the Wharton School of Business.
Steve Lyons, CFA C&B Mid Cap Value Fund	Mr. Lyons joined Cooke & Bieler in 2006, where he currently serves as a Partner, Portfolio Manager and Research Analyst.
Michael M. Meyer, CFA C&B Mid Cap Value Fund	Mr. Meyer joined Cooke & Bieler in 1993, and currently serves as a Partner, Portfolio Manager and Research Analyst.
Edward W. O?Connor, CFA C&B Mid Cap Value Fund	Mr. O?Connor joined Cooke & Bieler in 2002, where he currently serves as a Partner, Portfolio Manager and Research Analyst.
R. James O?Neil, CFA C&B Mid Cap Value Fund	Mr. O?Neil joined Cooke & Bieler in 1988, and currently serves as a Partner, Portfolio Manager and Research Analyst.
Mehul Trivedi, CFA C&B Mid Cap Value Fund	Mr. Trivedi joined Cooke & Bieler in 1998, and currently serves as a Partner, Portfolio Manager and Research Analyst.
William Weber, CFA C&B Mid Cap Value Fund	Mr. Weber rejoined Cooke & Bieler in 2010, where he currently serves as a Partner, Portfolio Manager and Research Analyst.

Allspring Global Investments, LLC (?Allspring Investments?) is a registered investment adviser located at 1415 Vantage Park Drive, 3rd Floor, Charlotte, NC 28203. Allspring Investments, an affiliate of Allspring Funds Management and wholly owned subsidiary of Allspring Global Investments Holdings, LLC, is a multi-boutique asset management firm committed to delivering superior investment services to institutional clients, including mutual funds.


Christopher G. Miller, CFA Common Stock Fund Opportunity Fund	Mr. Miller joined Allspring Investments or one of its predecessor firms in 2002, where he currently serves as a Senior Portfolio Manager and Team Lead for the Select Equity team.
Garth B. Newport, CFA Common Stock Fund	Mr. Newport joined Allspring Investments or one of its predecessor firms in 2006, where he currently serves as Portfolio Manager for the Select Equity team.
Michael T. Smith, CFA Discovery Mid Cap Growth Fund Discovery SMID Cap Growth Fund	Mr. Smith joined Allspring Investments or one of its predecessor firms in 2000, where he currently serves as a Managing Director and Lead Portfolio Manager for the Discovery Growth Equity team.
James M. Tringas, CFA Special Mid Cap Value Fund	Mr. Tringas joined Allspring Investments or one of its predecessor firms in 1994, where he currently serves as a Managing Director and Senior Portfolio Manager with the Special Global Equity team.
Bryant VanCronkhite, CFA, CPA Special Mid Cap Value Fund	Mr. VanCronkhite joined Allspring Investments or one of its predecessor firms in 2003, where he currently serves as a Managing Director and Senior Portfolio Manager for the Special Global Equity team.

Account Information

Share Class Eligibility

Class R6 shares are generally available for employer sponsored retirement and benefit plans and through intermediaries for the accounts of their customers to certain institutional and fee-based investors, and in each case, only if a dealer agreement is in place with Allspring Funds Distributor, LLC to offer Class R6 shares. The following investors may purchase Class R6 shares:

■	Employer sponsored retirement plans held in plan level or omnibus accounts, including but not limited to: 401(k) plans, 457 plans, profit sharing and money purchase pension plans, defined benefit plans, target benefit plans and non-qualified deferred compensation plans;

■	Employee benefit plan programs;

■	Broker-dealer managed account or wrap programs that charge an asset-based fee where omnibus accounts are held on the books of the Fund;

■	Registered investment adviser mutual fund wrap programs or other accounts that charge a fee for advisory, investment, consulting or similar services where omnibus accounts are held on the books of the Fund;

■	Private bank and trust company managed accounts or wrap programs that charge an asset-based fee;

■	Funds of funds, including those managed by Allspring Funds Management;

■

Institutional investors purchasing shares through an intermediary where omnibus accounts are held on the books of the Fund including trust departments, insurance companies, foundations, local, city, and state governmental institutions, private banks, endowments, non-profits, and charitable organizations;

■

Investors purchasing shares through an intermediary, acting solely as a broker on behalf of its customers, that holds such shares in an omnibus account and charges investors a transaction based commission outside of the Fund. In order to offer Fund shares, an intermediary must have an agreement with the Fund?s distributor authorizing the use of the share class within this type of platform.

The information in this Prospectus is not intended for distribution to, or use by, any person or entity in any non-U.S. jurisdiction or country where such distribution or use would be contrary to any law or regulation, or which would subject Fund shares to any registration requirement within such jurisdiction or country.

Share Class Features

The table below summarizes the key features of the share class offered through this Prospectus. Please note that if you purchase shares through an intermediary that acts as a broker on your behalf, you may be required to pay a commission to your intermediary in an amount determined and separately disclosed to you by the intermediary. Consult your financial professional for further details.


	Class R6
Initial Sales Charge		None
Contingent Deferred Sales Charge (?CDSC?)		None
Ongoing Distribution (?12b-1?) Fees		None

Compensation to Financial Professionals and Intermediaries

No compensation is paid to intermediaries from Fund assets on sales of Class R6 shares or for related services. Class R6 shares do not carry sales commissions or pay Rule 12b-1 fees, or make payments to intermediaries to assist in, or in connection with, the sale of Fund shares. Neither the manager, the distributor nor their affiliates make any type of administrative or service payments to intermediaries in connection with investments in Class R6 shares.

Buying and Selling Fund Shares

Eligible retirement plans may make Class R6 shares available to plan participants by contacting certain intermediaries that have dealer agreements with the distributor. These entities may impose transaction charges. Plan participants may purchase shares through their retirement plan?s administrator or record-keeper by following the process outlined in the terms of their plan.

Redemption requests received by a retirement plan?s administrator or record-keeper from the plan?s participants will be processed according to the terms of the plan?s account with its intermediary. Plan participants should follow the process for selling fund shares outlined in the terms of their plan.

Requests in ?Good Order?. All purchase and redemption requests must be received in ?good order.? This means that a request generally must include:

■	The Fund name(s), share class(es) and account number(s);

■	The amount (in dollars or shares) and type (purchase or redemption) of the request;

■	For purchase requests, payment of the full amount of the purchase request; and

■	Any supporting legal documentation that may be required.

Purchase and redemption requests in good order will be processed at the next NAV calculated after the Fund?s transfer agent or an authorized intermediary¹ receives your request. If your request is not received in good order, additional documentation may be required to process your transaction. We reserve the right to waive any of the above requirements.

The Fund?s shares may be purchased through an intermediary that has entered into a dealer agreement with the Fund?s distributor. The Fund has approved the acceptance of a purchase or redemption request effective as of the time of its receipt by such an authorized intermediary or its designee, as long as the request is received by one of those entities prior to the Fund?s closing time. These intermediaries may charge transaction fees. We reserve the right to adjust the closing time in certain circumstances.

Timing of Redemption Proceeds. We normally will send out redemption proceeds within one business day after we accept your request to redeem. We reserve the right to delay payment for up to seven days. Payment of redemption proceeds may be delayed for longer than seven days under extraordinary circumstances or as permitted by the SEC in order to protect remaining shareholders. Such extraordinary circumstances are discussed further in the Statement of Additional Information.

Exchanging Fund Shares

Exchanges between two funds involve two transactions: (1) the redemption of shares of one fund; and (2) the purchase of shares of another. In general, the same rules and procedures described under ?Buying and Selling Fund Shares? apply to exchanges. There are, however, additional policies and considerations you should keep in mind while making or considering an exchange:

■

In general, exchanges may be made between like share classes of any fund in the Allspring Funds complex offered to the general public for investment (i.e., a fund not closed to new accounts), with the following exceptions: (1) Class A shares of non-money market funds may also be exchanged for Service Class shares of any retail or government money market fund; (2) Service Class shares may be exchanged for Class A shares of any non-money market fund; and (3) no exchanges are allowed into institutional money market funds.

■	If you make an exchange between Class A shares of a money market fund or Class A2 or Class A shares of a non-money market fund, you will buy the shares at the public offering price of the new fund, unless you are otherwise eligible to buy shares at NAV.

■

Same-fund exchanges between share classes are permitted subject to the following conditions: (1) the shareholder must meet the eligibility guidelines of the class being purchased in the exchange; (2) exchanges out of Class A and Class C shares would not be allowed if shares are subject to a CDSC; and (3) for non-money market funds, in order to exchange into Class A shares, the shareholder must be able to qualify to purchase Class A shares at NAV based on current Prospectus guidelines.

■	An exchange request will be processed on the same business day, provided that both funds are open at the time the request is received. If one or both funds are closed, the exchange will be processed on the following business day.

■	You should carefully read the Prospectus for the Fund into which you wish to exchange.

■	Every exchange involves redeeming fund shares, which may produce a capital gain or loss for tax purposes.

■	If you are making an initial investment into a fund through an exchange, you must exchange at least the minimum initial investment amount for the new fund, unless your balance has fallen below that amount due to investment performance.

■	If you are making an additional investment into a fund that you already own through an exchange, you must exchange at least the minimum subsequent investment amount for the fund you are exchanging into.

■	Class A and Class C share exchanges will not trigger a CDSC. The new shares received in the exchange will continue to age according to the original shares? CDSC schedule and will be charged the CDSC applicable to the original shares upon redemption.

Generally, we will notify you at least 60 days in advance of any changes in the above exchange policies.

Frequent Purchases and Redemptions of Fund Shares

Allspring Funds reserves the right to reject any purchase or exchange order for any reason. If a shareholder redeems $20,000 or more (including redemptions that are part of an exchange transaction) from a Covered Fund (as defined below), that shareholder is ?blocked? from purchasing shares of that Covered Fund (including purchases that are part of an exchange transaction) for 30 calendar days after the redemption.

Excessive trading by Fund shareholders can negatively impact a Fund and its long-term shareholders in several ways, including disrupting Fund investment strategies, increasing transaction costs, decreasing tax efficiency, and diluting the value of shares held by long-term shareholders. Excessive trading in Fund shares can negatively impact a Fund?s long-term performance by requiring it to maintain more assets in cash or to liquidate portfolio holdings at a disadvantageous time. Certain Funds may be more susceptible than others to these negative effects. For example, Funds that have a greater percentage of their investments in non-U.S. securities may be more susceptible than other Funds to arbitrage opportunities resulting from pricing variations due to time zone differences across international financial markets. Similarly, Funds that have a greater percentage of their investments in small company securities may be more susceptible than other Funds to arbitrage opportunities due to the less liquid nature of small company securities. Both types of Funds also may incur higher transaction costs in liquidating portfolio holdings to meet excessive redemption levels. Fair value pricing may reduce these arbitrage opportunities, thereby reducing some of the negative effects of excessive trading.

Allspring Funds, other than the Adjustable Rate Government Fund, Conservative Income Fund, Ultra Short-Term Income Fund and Ultra Short-Term Municipal Income Fund (?Ultra-Short Funds?) and the money market funds, (the ?Covered Funds?). The Covered Funds are not designed to serve as vehicles for frequent trading. The Covered Funds actively discourage and take steps to prevent the portfolio disruption and negative effects on long-term shareholders that can result from excessive trading activity by Covered Fund shareholders. The Board has approved the Covered Funds? policies and procedures, which provide, among other things, that Allspring Funds Management may deem trading activity to be excessive if it determines that such trading activity would likely be disruptive to a Covered Fund by increasing expenses or lowering returns. In this regard, the Covered Funds take steps to avoid accommodating frequent purchases and redemptions of shares by Covered Fund shareholders. Allspring Funds Management monitors available shareholder trading information across all Covered Funds on a daily basis. If a shareholder redeems $20,000 or more (including redemptions that are part of an exchange transaction) from a Covered Fund, that shareholder is ?blocked? from purchasing shares of that Covered Fund (including purchases that are part of an exchange transaction) for 30 calendar days after the redemption. This policy does not apply to:

■	Money market funds;

■	Ultra-Short Funds;

■	Dividend reinvestments;

■	Systematic investments or exchanges where the financial intermediary maintaining the shareholder account identifies the transaction as a systematic redemption or purchase at the time of the transaction;

■	Rebalancing transactions within certain asset allocation or ?wrap? programs where the financial intermediary maintaining a shareholder account is able to identify the transaction as part of an asset allocation program approved by Allspring Funds Management;

■	Rebalancing transactions by an institutional client of Allspring Funds Management or its affiliate following a model portfolio offered by Allspring Funds Management or its affiliate;

■	Transactions initiated by a ?fund of funds? or Section 529 Plan into an underlying fund investment;

■	Permitted exchanges between share classes of the same Fund;

■

Certain transactions involving participants in employer-sponsored retirement plans, including: participant withdrawals due to mandatory distributions, rollovers and hardships, withdrawals of shares acquired by participants through payroll deductions, and shares acquired or sold by a participant in connection with plan loans; and

■	Purchases below $20,000 (including purchases that are part of an exchange transaction).

The money market funds and the Ultra-Short Funds. Because the money market funds and Ultra-Short Funds are often used for short-term investments, they are designed to accommodate more frequent purchases and redemptions than the Covered Funds. As a result, the money market funds and Ultra-Short Funds do not anticipate that frequent purchases and redemptions, under normal circumstances, will have significant adverse consequences to the money market funds or Ultra-Short Funds or their shareholders. Although the money market funds and Ultra-Short Funds do not prohibit frequent trading, Allspring Funds Management will seek to prevent an investor from utilizing the money market funds and Ultra-Short Funds to facilitate frequent purchases and redemptions of shares in the Covered Funds in contravention of the policies and procedures adopted by the Covered Funds.

All Allspring Funds. In addition, Allspring Funds Management reserves the right to accept purchases, redemptions and exchanges made in excess of applicable trading restrictions in designated accounts held by Allspring Funds Management or its affiliate that are used at all times exclusively for addressing operational matters related to shareholder accounts, such as testing of account functions, and are maintained at low balances that do not exceed specified dollar amount limitations.

In the event that an asset allocation or ?wrap? program is unable to implement the policy outlined above, Allspring Funds Management may grant a program-level exception to this policy. A financial intermediary relying on the exception is required to provide Allspring Funds Management with specific information regarding its program and ongoing information about its program upon request.

A financial intermediary through whom you may purchase shares of the Fund may independently attempt to identify excessive trading and take steps to deter such activity. As a result, a financial intermediary may on its own limit or permit trading activity of its customers who invest in Fund shares using standards different from the standards used by Allspring Funds Management and discussed in this Prospectus. Allspring Funds Management may permit a financial intermediary to enforce its own internal policies and procedures concerning frequent trading rather than the policies set forth above in instances where Allspring Funds Management reasonably believes that the intermediary?s policies and procedures effectively discourage disruptive trading activity. If you purchase Fund shares through a financial intermediary, you should contact the intermediary for more information about whether and how restrictions or limitations on trading activity will be applied to your account.

Account Policies

Advance Notice of Large Transactions. We strongly urge you to make all purchases and redemptions of Fund shares as early in the day as possible and to notify us or your intermediary at least one day in advance of transactions in Fund shares in excess of $1 million. This will help us to manage the Funds most effectively. When you give this advance notice, please provide your name and account number.

Householding. To help keep Fund expenses low, a single copy of a Prospectus or shareholder report may be sent to shareholders of the same household. If your household currently receives a single copy of a Prospectus or shareholder report and you would prefer to receive multiple copies, please call Investor Services at 1-800-222-8222 or contact your intermediary.

Transaction Authorizations. We may accept telephone, electronic, and clearing agency transaction instructions from anyone who represents that he or she is a shareholder and provides reasonable confirmation of his or her identity. Neither we nor Allspring Funds will be liable for any losses incurred if we follow such instructions we reasonably believe to be genuine. For transactions through our website, we may assign personal identification numbers (PINs) and you will need to create a login ID and password for account access. To safeguard your account, please keep these credentials confidential. Contact us immediately if you believe there is a discrepancy on your confirmation statement or if you believe someone has obtained unauthorized access to your online access credentials.

Identity Verification. We are required by law to obtain from you certain personal information that will be used to verify your identity. If you do not provide the information, we will not be able to open your account. In the rare event that we are unable to verify your identity as required by law, we reserve the right to redeem your account at the current NAV of the Fund?s shares. You will be responsible for any losses, taxes, expenses, fees, or other results of such a redemption.

Right to Freeze Accounts, Suspend Account Services or Reject or Terminate an Investment. We reserve the right, to the extent permitted by law and/or regulations, to freeze any account or suspend account services when we have received reasonable notice (written or otherwise) of a dispute between registered or beneficial account owners or when we believe a fraudulent transaction may occur or has occurred. Additionally, we reserve the right to reject any purchase or exchange request and to terminate a shareholder?s investment, including closing the shareholder?s account.

Other Information

Taxes

The following discussion regarding federal income taxes is based on laws that were in effect as of the date of this Prospectus and summarizes only some of the important federal income tax considerations affecting the Fund and you as a shareholder. It does not apply to foreign or tax-exempt shareholders or those holding Fund shares through a tax-advantaged account, such as a 401(k) Plan or IRA. This discussion is not intended as a substitute for careful tax planning. You should consult your tax adviser about your specific tax situation. Please see the Statement of Additional Information for additional federal income tax information.

The Fund elected to be treated, and intends to qualify each year, as a regulated investment company (?RIC?) under the Internal Revenue Code of 1986, as amended. A RIC is not subject to tax at the corporate level on income and gains from investments that are distributed in a timely manner to shareholders. However, the Fund?s failure to qualify as a RIC would result in corporate level taxation, and consequently, a reduction in income available for distribution to you as a shareholder.

We will pass on to a Fund?s shareholders substantially all of the Fund?s net investment income and realized net capital gains, if any. Distributions from a Fund?s ordinary income and net short-term capital gains, if any, generally will be taxable to you as ordinary income. Distributions from a Fund?s net long-term capital gains, if any, generally will be taxable to you as long-term capital gains. If you are an individual and meet certain holding period requirements with respect to your Fund shares, you may be eligible for reduced tax rates on qualified dividend income, if any, distributed by the Fund.

Corporate shareholders may be able to deduct a portion of their distributions when determining their taxable income.

Individual taxpayers are subject to a maximum tax rate of 37% on ordinary income and a maximum tax rate on long-term capital gains and qualified dividends of 20%. For U.S. individuals with income exceeding $200,000 ($250,000 if married and filing jointly), a 3.8% Medicare contribution tax will apply on ?net investment income,? including interest, dividends, and capital gains. Corporations are subject to tax on all income and gains at a tax rate of 21%. However, a RIC is not subject to tax at the corporate level on income and gains from investments that are distributed in a timely manner to shareholders.

Distributions from a Fund normally will be taxable to you when paid, whether you take distributions in cash or automatically reinvest them in additional Fund shares. Following the end of each year, we will notify you of the federal income tax status of your distributions for the year.

If you buy shares of a Fund shortly before it makes a taxable distribution, your distribution will, in effect, be a taxable return of part of your investment. Similarly, if you buy shares of a Fund when it holds appreciated securities, you will receive a taxable return of part of your investment if and when the Fund sells the appreciated securities and distributes the gain. The Fund has built up, or has the potential to build up, high levels of unrealized appreciation.

Your redemptions (including redemptions in-kind) and exchanges of Fund shares ordinarily will result in a taxable capital gain or loss, depending on the amount you receive for your shares (or are deemed to receive in the case of exchanges) and the amount you paid (or are deemed to have paid) for them. Such capital gain or loss generally will be long-term capital gain or loss if you have held your redeemed or exchanged Fund shares for more than one year at the time of redemption or exchange. In certain circumstances, losses realized on the redemption or exchange of Fund shares may be disallowed.

When you receive a distribution from a Fund or redeem shares, you may be subject to backup withholding.

Financial Highlights

The following tables are intended to help you understand a Fund?s financial performance for the past five years (or since inception, if shorter). Certain information reflects financial results for a single Fund share. Total returns represent the rate you would have earned (or lost) on an investment in each Fund (assuming reinvestment of all distributions). The information in the following tables has been derived from the Funds? financial statements which have been audited by KPMG LLP, the Fund?s independent registered public accounting firm, whose report, along with each Fund?s financial statements, is also included in each Fund?s annual report, a copy of which is available upon request.

C&B Mid Cap Value Fund

For a share outstanding throughout each period


		Year ended September 30
Class R6		2023		2022		2021		2020		2019
Net asset value, beginning of period	$	35.81	$	48.97	$	34.77	$	40.06	$	38.27
Net investment income		0.40 ¹		0.33		0.24		0.27		0.35 ¹
Net realized and unrealized gains (losses) on investments		6.75		(8.80 )		14.20		(4.25 )		1.67
Total from investment operations		7.15		(8.47 )		14.44		(3.98 )		2.02
Distributions to shareholders from
Net investment income		(0.47 )		(0.24 )		(0.24 )		(0.30 )		(0.23 )
Net realized gains		(3.62 )		(4.45 )		0.00		(1.01 )		0.00
Total distributions to shareholders		(4.09 )		(4.69 )		(0.24 )		(1.31 )		(0.23 )
Net asset value, end of period	$	38.87	$	35.81	$	48.97	$	34.77	$	40.06
Total return		20.76 %		(19.43 )%		41.66 %		(10.42 )%		5.39 %
Ratios to average net assets (annualized)
Gross expenses		0.88 %		0.82 %		0.82 %		0.84 %		0.86 %
Net expenses		0.80 %		0.80 %		0.80 %		0.80 %		0.80 %
Net investment income		1.03 %		0.75 %		0.49 %		0.73 %		0.95 %
Supplemental data
Portfolio turnover rate		24 %		40 %		47 %		45 %		42 %
Net assets, end of period (000s omitted)	$	18,680	$	17,055	$	21,853	$	12,156	$	15,112

1	Calculated based upon average shares outstanding

Common Stock Fund

For a share outstanding throughout each period


		Year ended September 30
Class R6		2023		2022		2021		2020		2019
Net asset value, beginning of period	$	17.94	$	26.41	$	19.16	$	22.39	$	25.80
Net investment income (loss)		0.02 ¹		(0.04 ) ¹		(0.02 ) ¹		0.05 ¹		0.09 ¹
Net realized and unrealized gains (losses) on investments		2.59		(4.19 )		8.32		(0.56 )		(0.20 )
Total from investment operations		2.61		(4.23 )		8.30		(0.51 )		(0.11 )
Distributions to shareholders from
Net investment income		0.00		0.00		0.00		(0.08 )		0.00
Net realized gains		(2.71 )		(4.24 )		(1.05 )		(2.64 )		(3.30 )
Total distributions to shareholders		(2.71 )		(4.24 )		(1.05 )		(2.72 )		(3.30 )
Net asset value, end of period	$	17.84	$	17.94	$	26.41	$	19.16	$	22.39
Total return		15.00 %		(19.77 )%		44.37 %		(3.10 )%		1.31 %
Ratios to average net assets (annualized)
Gross expenses		0.84 %		0.83 %		0.82 %		0.84 %		0.83 %
Net expenses		0.83 %		0.83 %		0.82 %		0.83 %		0.83 %
Net investment income (loss)		0.09 %		(0.17 )%		(0.09 )%		0.27 %		0.40 %
Supplemental data
Portfolio turnover rate		36 %		40 %		48 %		61 %		40 %
Net assets, end of period (000s omitted)	$	6,378	$	27,209	$	35,280	$	27,628	$	36,069

1	Calculated based upon average shares outstanding

Discovery Mid Cap Growth Fund

For a share outstanding throughout each period


		Year ended September 30
Class R6		2023		2022		2021		2020		2019
Net asset value, beginning of period	$	42.59	$	87.70	$	72.94	$	56.15	$	58.47
Net investment loss		(0.20 ) ¹		(0.40 ) ¹		(0.57 ) ¹		(0.25 ) ¹		(0.11 ) ¹
Net realized and unrealized gains (losses) on investments		4.77		(33.48 )		21.93		20.33		3.53
Total from investment operations		4.57		(33.88 )		21.36		20.08		3.42
Distributions to shareholders from
Net realized gains		0.00		(11.23 )		(6.60 )		(3.29 )		(5.74 )
Net asset value, end of period	$	47.16	$	42.59	$	87.70	$	72.94	$	56.15
Total return		10.70 %		(44.07 )%		30.41 %		37.69 %		8.41 %
Ratios to average net assets (annualized)
Gross expenses		0.83 %		0.80 %		0.78 %		0.81 %		0.82 %
Net expenses		0.80 %		0.79 %		0.78 %		0.80 %		0.80 %
Net investment loss		(0.43 )%		(0.66 )%		(0.68 )%		(0.43 )%		(0.21 )%
Supplemental data
Portfolio turnover rate		49 %		46 %		41 %		62 %		50 %
Net assets, end of period (000s omitted)	$	56,539	$	51,082	$	94,430	$	71,641	$	52,783

1	Calculated based upon average shares outstanding

Discovery SMID Cap Growth Fund

For a share outstanding throughout each period


		Year ended September 30
Class R6		2023		2022		2021		2020		2019
Net asset value, beginning of period	$	23.63	$	54.02	$	44.98	$	36.76	$	41.26
Net investment loss		(0.09 ) ¹		(0.22 ) ¹		(0.35 ) ¹		(0.18 ) ¹		(0.12 ) ¹
Net realized and unrealized gains (losses) on investments		2.58		(17.56 )		11.84		12.75		0.68
Total from investment operations		2.49		(17.78 )		11.49		12.57		0.56
Distributions to shareholders from
Net realized gains		(0.29 )		(12.61 )		(2.45 )		(4.35 )		(5.06 )
Net asset value, end of period	$	25.83	$	23.63	$	54.02	$	44.98	$	36.76
Total return		10.58 %		(41.80 )%		26.01 %		38.06 %		4.26 %
Ratios to average net assets (annualized)
Gross expenses		0.81 %		0.78 %		0.76 %		0.78 %		0.77 %
Net expenses		0.79 %		0.78 %		0.76 %		0.78 %		0.77 %
Net investment loss		(0.36 )%		(0.66 )%		(0.66 )%		(0.50 )%		(0.33 )%
Supplemental data
Portfolio turnover rate		52 %		58 %		51 %		53 %		71 %
Net assets, end of period (000s omitted)	$	287,218	$	353,183	$	771,279	$	597,851	$	405,610

1	Calculated based upon average shares outstanding

Opportunity Fund

For a share outstanding throughout each period


		Year ended September 30
Class R6		2023		2022		2021		2020¹
Net asset value, beginning of period	$	47.73	$	65.66	$	51.83	$	46.84
Net investment income		0.16 ²		0.01 ²		0.04		0.04
Net realized and unrealized gains (losses) on investments		8.95		(11.34 )		17.06		4.95
Total from investment operations		9.11		(11.33 )		17.10		4.99
Distributions to shareholders from
Net investment income		0.00		0.00		(0.20 )		0.00
Net realized gains		(4.31 )		(6.60 )		(3.07 )		0.00
Total distributions to shareholders		(4.31 )		(6.60 )		(3.27 )		0.00
Net asset value, end of period	$	52.53	$	47.73	$	65.66	$	51.83
Total return³		19.96 %		(19.72 )%		34.23 %		10.65 %
Ratios to average net assets (annualized)
Gross expenses		0.79 %		0.75 %		0.76 %		0.76 %
Net expenses		0.73 %		0.72 %		0.72 %		0.72 %
Net investment income		0.31 %		0.01 %		0.08 %		0.25 %
Supplemental data
Portfolio turnover rate		26 %		22 %		29 %		43 %
Net assets, end of period (000s omitted)	$	174	$	28	$	35	$	28

1	For the period from May 29, 2020 (commencement of class operations) to September 30, 2020

2	Calculated based upon average shares outstanding

3	Returns for periods of less than one year are not annualized.

Special Mid Cap Value Fund

For a share outstanding throughout each period


		Year ended September 30
Class R6		2023		2022		2021		2020		2019
Net asset value, beginning of period	$	42.36	$	50.72	$	36.39	$	40.76	$	38.67
Net investment income		0.59		0.46		0.29		0.36		0.40
Net realized and unrealized gains (losses) on investments		5.49		(3.79 )		14.36		(2.94 )		2.62
Total from investment operations		6.08		(3.33 )		14.65		(2.58 )		3.02
Distributions to shareholders from
Net investment income		(0.50 )		(0.30 )		(0.32 )		(0.39 )		(0.34 )
Net realized gains		(3.41 )		(4.73 )		0.00		(1.40 )		(0.59 )
Total distributions to shareholders		(3.91 )		(5.03 )		(0.32 )		(1.79 )		(0.93 )
Net asset value, end of period	$	44.53	$	42.36	$	50.72	$	36.39	$	40.76
Total return		14.38 %		(7.93 )%		40.44 %		(6.84 )%		8.28 %
Ratios to average net assets (annualized)
Gross expenses		0.70 %		0.69 %		0.70 %		0.71 %		0.72 %
Net expenses		0.70 %		0.69 %		0.70 %		0.71 %		0.72 %
Net investment income		1.37 %		0.96 %		0.60 %		0.99 %		1.12 %
Supplemental data
Portfolio turnover rate		27 %		24 %		38 %		51 %		37 %
Net assets, end of period (000s omitted)	$	3,208,044	$	2,537,407	$	2,925,693	$	2,103,895	$	2,094,860


Fund	Class R6
Allspring C&B Mid Cap Value Fund¹	CBMYX
Allspring Common Stock Fund	SCSRX
Allspring Discovery Mid Cap Growth Fund	WENRX
Allspring Discovery SMID Cap Growth Fund	WFDRX
Allspring Opportunity Fund	WOFRX
Allspring Special Mid Cap Value Fund	WFPRX


Christopher J. Warner, CFA Discovery Mid Cap Growth Fund Discovery SMID Cap Growth Fund	Mr. Warner joined Allspring Investments or one of its predecessor firms in 2007, where he currently serves as a Portfolio Manager for the Discovery Growth Equity team.
Shane Zweck, CFA Special Mid Cap Value Fund	Mr. Zweck joined Allspring Investments or one of its predecessor firms in 2007, where he currently serves as a Portfolio Manager for the Special Global Equity team.


Fund Summaries
C&B Mid Cap Value Fund Summary....................................................................................................	2
Common Stock Fund Summary..........................................................................................................	6
Discovery Mid Cap Growth Fund Summary........................................................................................	10
Discovery SMID Cap Growth Fund Summary......................................................................................	14
Opportunity Fund Summary...............................................................................................................	18
Special Mid Cap Value Fund Summary...............................................................................................	22
Details About the Funds
C&B Mid Cap Value Fund....................................................................................................................	26
Common Stock Fund..........................................................................................................................	27
Discovery Mid Cap Growth Fund........................................................................................................	28
Discovery SMID Cap Growth Fund......................................................................................................	30
Opportunity Fund...............................................................................................................................	32
Special Mid Cap Value Fund...............................................................................................................	33
Description of Principal Investment Risks...........................................................................................	34
Portfolio Holdings Information............................................................................................................	35
Pricing Fund Shares............................................................................................................................	35
Management of the Funds
The Manager......................................................................................................................................	36
The Sub-Advisers and Portfolio Managers...........................................................................................	37
Multi-Manager Arrangement...............................................................................................................	38
Account Information
Share Class Eligibility.........................................................................................................................	39
Share Class Features..........................................................................................................................	39
Compensation to Financial Professionals and Intermediaries.............................................................	39
Buying and Selling Fund Shares.........................................................................................................	40
Exchanging Fund Shares....................................................................................................................	40
Frequent Purchases and Redemptions of Fund Shares.......................................................................	41
Account Policies.................................................................................................................................	42
Distributions.......................................................................................................................................	43
Other Information
Taxes..................................................................................................................................................	44
Financial Highlights............................................................................................................................	45


Calendar Year Total Returns for Class R6 as of 12/31 each year¹
	Highest Quarter: June 30, 2020	+21.56%
	Lowest Quarter: March 31, 2020	-21.61%


? 2024 Allspring Global Investments Holdings, LLC. All rights reserved.	PRO4805 04-24 ICA Reg. No. 811-09253


	Prospectus February 1, 2024, as supplemented April 3, 2024