Allspring Growth Fund
SGRNX
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- Allspring Growth Fund (SGRNX) is an open-end mutual fund managed by Allspring Global Investments, LLC, that seeks long-term capital appreciation by investing principally in equity securities of small-, mid-, and large-capitalization companies exhibiting robust, sustainable revenue and earnings growth not fully recognized by the market; it normally invests at least 80% of its total assets in such equity securities and up to 25% in foreign issuers via ADRs or similar instruments. The fund offers multiple share classes, including Institutional Shares (SGRNX, net expense ratio 0.75%), Administrator Shares (SGRKX, 0.96%), Class A Shares (SGRAX, 1.15%), Class C Shares (WGFCX, 1.90%), and R6 Shares (SGRHX, 0.70%), with assets under management exceeding $3.5 billion as of mid-2025. Core portfolio characteristics feature a focus on high-growth sectors such as information technology (37%-43%), consumer discretionary (15%-17%), and communication services (13%), with top holdings including Microsoft Corporation, NVIDIA Corporation, Amazon.com, Inc., Meta Platforms Inc., and Broadcom Inc.; the portfolio undergoes fundamental bottom-up research, continuous risk management via growth sustainability assessments, and a quantified sell discipline, resulting in moderate turnover of 37%-80% and 67-86 holdings. The fund, with an inception date of December 31, 1993 (Institutional Class launched February 24, 2000), is domiciled in the United States and categorized in the Large Growth segment by Morningstar, benchmarking against the Russell 3000 Growth Index. Allspring Global Investments, the sub-advisor and trade name for asset management firms under Allspring Global Investments Holdings, LLC (indirectly owned by GTCR LLC and Reverence Capital Partners), is headquartered in Charlotte, North Carolina, and provides global investment capabilities with approximately $605 billion in assets under advisement, targeting institutional and private wealth clients primarily in the U.S.. Current portfolio managers include Michael Smith (head of Growth Equity team, since May 31, 2024), Robert Gruendyke (since July 28, 2020), Christopher Warner (since May 31, 2024), Thomas Ognar, and David Nazaret, leveraging decades of collective experience in growth equity. Recent developments include portfolio manager additions and oversight enhancements under Michael Smith's leadership of the Growth Equity team in 2024, alongside the firm's broader strategic expansions such as the March 2025 launch of actively managed equity ETFs (Allspring LT Large Growth ETF - AGRW; Allspring Special Large Value ETF - ASLV) based on established strategies; Allspring also commenced a new UCITS equity fund in late 2024 to broaden its international offerings and opened a downtown Milwaukee office in 2025 to support operational growth. Amid macroeconomic volatility in 2025—including tariffs, geopolitical tensions, and AI-driven sector rotations—the fund demonstrated resilience with strong quarterly performance attribution from information technology and industrials selection, while maintaining a contractual expense cap through November 30, 2025, supported by GTCR and Reverence Capital's ongoing investment in platform enhancements. As of June 30, 2025, the fund reported year-to-date returns of 10.64% for Institutional Shares, with a focus on resilient growth businesses amid slowing economic indicators.