Investment objective & strategy
As of July 25, 2025 · prospectusObjective. The Fund seeks long-term capital appreciation.
Strategy. Under normal circumstances, we invest: at least 80% of the Funds net assets in equity securities of small-capitalization companies. We invest principally in equity securities of small-capitalization companies, which we define as companies with market capitalizations within the range of the Russell 2000 Index at the time of purchase. The market capitalization range of the Russell 2000 Index was $17 million to $10.8 billion as of June 30, 2024, 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, … Under normal circumstances, we invest: at least 80% of the Funds net assets in equity securities of small-capitalization companies. We invest principally in equity securities of small-capitalization companies, which we define as companies with market capitalizations within the range of the Russell 2000 Index at the time of purchase. The market capitalization range of the Russell 2000 Index was $17 million to $10.8 billion as of June 30, 2024, 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 companys fundamentals have deteriorated, or we identify a more attractive investment opportunity.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| INNOSPEC INC | — | $110.10M | 3.53% |
| FRANKLIN ELECTRIC CO. INC. | — | $103.64M | 3.32% |
| UMB FINANCIAL CORP | — | $96.11M | 3.08% |
| ALLSPRING GOVERNMENT MONEY MAR | — | $95.25M | 3.05% |
| J & J SNACK FOOD | — | $87.65M | 2.81% |
| AVIENT CORP | — | $76.18M | 2.44% |
| HANCOCK WHITNEY CORP | — | $70.65M | 2.26% |
| SOUTHSTATE BANK CORP | — | $69.99M | 2.24% |
| ALAMO GROUP INC | — | $68.41M | 2.19% |
| UFP INDUSTRIES INC | — | $65.60M | 2.10% |
Portfolio moves
Dec 31, 2025 → Mar 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. |
|---|---|---|
| Small Cap Special Values Fund · VSSVX | 89% | 1.01% |
| Brighthouse Small Cap Value Portfolio | 81% | 0.83% |
| Allspring Special Global Small Cap Fund · EKGAX, EKGCX, EKGYX, EKGIX | 23% | 1.10% |
Advisers
| Firm | Role |
|---|---|
| Allspring Funds Management, LLC | Adviser |
| Allspring Global Investments, LLC | Sub-adviser |
Footnotes
- Expense ratio as of July 25, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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