Investment objective & strategy
As of Feb. 24, 2026 · prospectusObjective. The Fund seeks long-term capital appreciation.
Strategy. Under normal circumstances, we invest: at least 80% of the Funds total assets in equity securities of small-capitalization companies; in the securities of companies located in no fewer than three countries, which may include the U.S., and we may invest more than 25% of the Funds total assets in any one country; and up to 10% of the Funds total assets in emerging market equity securities. We invest principally in equity securities of small-capitalization companies, which we define as companies with market capitalizations within the range of the MSCI World Small Cap Index at the time of purchase. The market capitalization range of the MSCI World Small Cap Index was approximately $ 252.63 million to $ 85.28 billion, as of … Under normal circumstances, we invest: at least 80% of the Funds total assets in equity securities of small-capitalization companies; in the securities of companies located in no fewer than three countries, which may include the U.S., and we may invest more than 25% of the Funds total assets in any one country; and up to 10% of the Funds total assets in emerging market equity securities. We invest principally in equity securities of small-capitalization companies, which we define as companies with market capitalizations within the range of the MSCI World Small Cap Index at the time of purchase. The market capitalization range of the MSCI World Small Cap Index was approximately $ 252.63 million to $ 85.28 billion, as of January 31, 2026, and is expected to change frequently. We consider foreign securities to be securities: (1) issued by companies with their principal place of business or principal office or both, as determined in our reasonable discretion, in a country other than the U.S.; or (2) issued by companies for which the principal securities trading market is a country other than the U.S. Furthermore, we may use futures, options or forward foreign currency contracts to manage risk or to enhance return. In selecting equity investments for the Fund, the portfolio managers attempt to identify companies that are well managed, have flexible balance sheets, sustainable cash flows and that are undervalued companies relative to an assessment of their intrinsic value. We believe the global small-capitalization markets are inefficient and that stocks are often inappropriately valued. Our process utilizes both fundamentally based, bottom-up techniques with top-down, industry and sector analysis to identify global opportunities. We conduct ongoing review, research, and analysis of our portfolio holdings. We may sell a stock if it achieves our investment objective for the position, if a stocks fundamentals or price change significantly, if we change our view of a country or sector, or if the stock no longer fits within the risk characteristics of the Funds portfolio. We reserve the right to hedge the portfolios foreign currency exposure by purchasing or selling currency futures and foreign currency forward contracts. However, under normal circumstances, we will not engage in extensive foreign currency hedging.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| ALTEN | — | $3.39M | 2.86% |
| NOVANTA INC | — | $3.20M | 2.70% |
| ALLSPRING GOVERNMENT MONEY MAR | — | $3.10M | 2.62% |
| HORIBA LTD | — | $2.98M | 2.51% |
| INNOSPEC INC | — | $2.93M | 2.47% |
| INTERPUMP SPA | — | $2.75M | 2.32% |
| BRADY CORPORATION CL A | — | $2.71M | 2.29% |
| HANOVER INSURANCE GROUP INC | — | $2.63M | 2.21% |
| MEITEC GROUP HOL | — | $2.48M | 2.09% |
| ALAMO GROUP INC | — | $2.42M | 2.04% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Allspring Special International Small Cap Fund · WICIX, WICRX, ASPAX, ACPCX | 37% | 0.35% |
| Allspring Special Small Cap Value Fund · ESPAX, ESPCX, ESPIX, ESPNX, ESPRX | 23% | 0.82% |
| Small Cap Special Values Fund · VSSVX | 20% | 1.01% |
Advisers
| Firm | Role |
|---|---|
| Allspring Funds Management, LLC | Adviser |
| Allspring Global Investments, LLC | Sub-adviser |
Footnotes
- Expense ratio as of August 15, 2025, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2024, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2024 (the latest prospectus does not yet chart this year).
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