Allspring Discovery Large Cap Growth - A
STAEX
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- Allspring Discovery Large Cap Growth Fund - Class A (STAEX) is an open-end mutual fund managed by Allspring Funds Management LLC that seeks long-term capital appreciation by investing primarily in equity securities of large-capitalization growth companies exhibiting robust and sustainable growth potential on the "right side of change." The fund normally invests at least 80% of its total assets in large cap equity securities, including common stocks, preferred stocks, and convertible securities, with up to 25% allocated to foreign issuers through American Depositary Receipts (ADRs) or similar instruments; it maintains a portfolio concentrated in 30 to 40 high-conviction holdings selected through a bottom-up fundamental analysis process focusing on companies with superior growth prospects, competitive advantages, and strong management teams. Allspring Global Investments, the fund's investment manager, operates as a multi-asset class firm offering equity, fixed income, multi-asset, and alternative strategies to institutional and individual investors worldwide. STAEX operates within the large-cap growth segment of the U.S. equity market, targeting sophisticated investors seeking exposure to high-quality growth stocks; its benchmark is the Russell 1000 Growth Index. The fund's geographic focus is predominantly U.S.-based securities, with limited international exposure via foreign equities and ADRs, serving retail and institutional clients through broker-dealers, financial advisors, and retirement plans. Headquartered in Charlotte, North Carolina, Allspring Global Investments was spun off from Wells Fargo Asset Management in November 2021 and relocated its headquarters from San Francisco to Charlotte in October 2022 to leverage the region's business-friendly environment and financial hub status. Recent developments include portfolio manager changes, with Robert Gruendyke added as co-manager effective May 31, 2024, alongside established managers Michael Smith (since 2010) and Christopher Warner (since 2016), reflecting ongoing team enhancements to support the strategy's disciplined growth-oriented approach. Allspring has pursued portfolio rationalization through multiple fund mergers announced in product alerts, such as merging two ultra-short duration fixed income funds, two small cap growth funds, and two large cap value funds, alongside share class conversions for money market and select equity funds; while STAEX was not directly involved, these actions underscore broader operational streamlining within the Allspring family of funds. In Q3 2025, the fund issued commentary noting underperformance relative to the Russell 1000 Growth Index amid market rotations, prompting continued emphasis on high-conviction positions in resilient growth leaders.