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 approximately $17 million to $10.8 billion, as of June 30, 2024 and is expected to change frequently. Furthermore, we may use futures contracts in order to equitize cash. We employ a risk controlled investment approach in seeking to construct a broadly diversified portfolio of companies with a superior valuation and earnings profile. Our research, which utilizes a combination of quantitative methods … 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 approximately $17 million to $10.8 billion, as of June 30, 2024 and is expected to change frequently. Furthermore, we may use futures contracts in order to equitize cash. We employ a risk controlled investment approach in seeking to construct a broadly diversified portfolio of companies with a superior valuation and earnings profile. Our research, which utilizes a combination of quantitative methods and fundamental analysis, identifies companies based on valuation, earnings and trading momentum characteristics that give a comprehensive view of each companys relative valuation, operational and financial performance, and stock price behavior. We regularly review the investments of the portfolio and may sell a portfolio holding when, among other reasons, we believe there is deterioration in the underlying fundamentals of the business, or we have identified a more attractive investment opportunity. We may actively trade portfolio securities, which may lead to higher transaction costs that may affect the Funds performance. In addition, active trading of portfolio securities may lead to higher taxes if your shares are held in a taxable account.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| ALLSPRING GOVERNMENT MONEY MAR | — | $4.32M | 3.10% |
| NEXTRACKER INC CL A | — | $1.54M | 1.11% |
| FABRINET | — | $1.51M | 1.09% |
| COEUR MINING INC | — | $1.30M | 0.94% |
| TTM TECHNOLOGIES INC | — | $1.29M | 0.93% |
| BLOOM ENERGY CORP CL A | — | $1.28M | 0.92% |
| STERLING INFRASTRUCTURE INC | — | $1.28M | 0.92% |
| PRIMORIS SVCS CORP | — | $1.19M | 0.85% |
| PAR PACIFIC HOLDINGS INC | — | $1.19M | 0.85% |
| ARGAN INC | — | $1.12M | 0.80% |
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. |
|---|---|---|
| Franklin U.S. Small Cap Equity Fund · LMBAX, LMBCX, LGSCX, LMBRX, LMSIX, LMBMX | 40% | 0.75% |
| Principal U.S. Small-Cap ETF · PSC | 37% | 0.38% |
| AQR Small Cap Multi-Style Fund · QSMLX, QSMNX, QSERX | 36% | 0.80% |
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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