- Business
- Allspring Special Mid Cap Value Fund (WFPRX) is an open-end mutual fund that seeks long-term capital appreciation by investing principally in equity securities of medium-capitalization companies, defined as those with market capitalizations within the range of the Russell Midcap Value Index at the time of purchase; the fund normally invests at least 80% of its net assets in such securities, with a portfolio diversified across sectors including industrials (22.01%), technology (12.26%), healthcare (11.32%), financial services (11.31%), and real estate (7.85%), featuring top holdings such as Teradyne Inc. (3.69%), American Electric Power Company Inc. (3.26%), Labcorp Holdings Inc. (2.74%), FirstEnergy Corp. (2.59%), and Vulcan Materials Co. (2.57%). It offers Class R6 shares with a net expense ratio of 0.70%, no front-end or deferred loads, and a minimum initial investment of zero, targeting institutional and retail investors in the mid-cap value segment. The fund maintains a U.S.-focused asset allocation, with 95.01% in U.S. stocks, 3.11% in non-U.S. stocks, and 1.88% in cash, available for sale in the United States.
Managed by Bryant VanCronkhite since January 22, 2009, James Tringas since March 26, 2009, and Shane Zweck since February 1, 2019, the fund was launched on June 28, 2013, and is domiciled in the United States as part of Allspring Global Investments, which is headquartered in San Francisco, California. Allspring Global Investments, the fund family overseeing WFPRX with total net assets of approximately $13.35 billion across its share classes (including $3.31 billion for WFPRX Class R6), originated from the 2021 acquisition and rebranding of Wells Fargo Asset Management by private equity firms GTCR and Reverence Capital Partners, with Wells Fargo retaining a minority stake of less than 10% and employees holding about 20% ownership.
Recent developments include sustained portfolio oversight amid market volatility, with year-to-date returns of 6.42% and 1-year returns of -0.72% as of November 30, 2025, reflecting a focus on value-oriented mid-cap equities; the firm has invested in technology enhancements and distribution capabilities to support growth in fixed-income and separately managed accounts, though no fund-specific acquisitions, partnerships, new product launches, or reorganizations for WFPRX were reported in the last 1-2 years. Top 5 holdings represent 14.85% of the portfolio, underscoring a concentrated yet diversified approach to mid-cap value investing.