ERH - Allspring Utilities & High Income Fund

What this means for you

One large investor owns more than 5% of this fund but has told the regulator it is not seeking changes. That is common for banks, brokers and index funds that hold shares for their clients.

Nothing is required of you. If an investor changes its mind, it must file a new notice within days, and it will show up here.

Email me if this changes

What happened, and when

1. May 5, 2025

   Morgan Stanley now owns 5%, as a passive investor.

   Original document →

About this fund

• Run by Allspring Funds Management, LLC. As of Aug 31, 2025, from the fund's yearly report. Original document →
• Size: about $107 million of holdings, as of Aug 31, 2026. As of Aug 31, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 23% on top of its own money, as of Aug 31, 2026. Borrowed money makes gains and losses bigger. As of Aug 31, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 0.6% a year in management fees; 2.4% a year in total, including interest on borrowed money. Fiscal year ended Aug 31, 2025. As of Aug 31, 2025, from the fund's yearly report. Original document →
  Among the 19 funds we follow that invest in high-yield bonds, none charges a lower management fee and 9 charge less in total, at their last yearly reports. Both numbers are measured against the fund's own money, not the money it borrows on top, so a fund that borrows more shows higher costs on both counts.
• Payouts: last fiscal year (ended Aug 31, 2026) the fund paid $1.02 a share. $0.39 of that was income; $0.63 was your own money back, not income. Most funds announce their monthly or quarterly payout on their own website, not in a filing with the regulator, so a cut or a raise there does not show up here until the next yearly report. A few funds do file a notice about a fixed payout; those appear under What happened, and when. As of Aug 31, 2026, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Aug 31, 2025): $12.88. The shares traded at $12.02, about 6.7% below that. As of Aug 31, 2025, from the fund's yearly report. Original document →
• How the holdings did: down 4% over the last three months we have (June-Aug 2026), before the share price is taken into account. As of Aug 31, 2026, from the fund's quarterly holdings report. Original document →
• First reported to the regulator in 2004.

How this has changed

• Payouts per share: $1.02 in the fiscal year ended Aug 31, 2026; $0.89 in the year ended Aug 31, 2025; $0.77 in the year ended Aug 31, 2024.As of Aug 31, 2026, from the fund's annual report. Original document →
• Of that, your own money back rather than income: $0.63 in the year ended Aug 31, 2026; $0.49 in the year ended Aug 31, 2025; $0.40 in the year ended Aug 31, 2024.As of Aug 31, 2026, from the fund's annual report. Original document →
• Costs, including interest on borrowed money: 2.09% a year in the fiscal year ended Aug 31, 2026; 2.43% a year in the year ended Aug 31, 2025; 2.93% a year in the year ended Aug 31, 2024.As of Aug 31, 2026, from the fund's annual report. Original document →
• Size of the holdings: about $107 million at Aug 31, 2026; $114 million at Aug 31, 2025; $109 million at Aug 31, 2024. From the fund's quarterly holdings reports. Original documents: Aug 31, 2026 →, Aug 31, 2025 →, Aug 31, 2024 →.
• Borrowing: about 23% on top of its own money at Aug 31, 2026; 21% at Aug 31, 2025; 22% at Aug 31, 2024. From the fund's quarterly holdings reports. Original documents: Aug 31, 2026 →, Aug 31, 2025 →, Aug 31, 2024 →.
• The fund had about 8.83 million shares at Aug 31, 2026, down 2% from Aug 31, 2024.As of Aug 31, 2026, from the fund's annual report. Original document →

What these lines mean: a payout that is your own money back, what a fund costs, borrowing.

What a holder made

• The year ended Aug 31, 2026: the shares returned +2%, counting payouts; the holdings +2.6%. The holdings figure is what the fund's investments earned, before the share price is taken into account. As of Aug 31, 2026, from the fund's annual report. Original document →
• The year ended Aug 31, 2025: the shares returned +21%, counting payouts; the holdings +15.6%. As of Aug 31, 2025, from the fund's annual report. Original document →
• The year ended Aug 31, 2024: the shares returned +20.6%, counting payouts; the holdings +23%. As of Aug 31, 2024, from the fund's annual report. Original document →
• The year ended Aug 31, 2023: the shares returned -15%, counting payouts; the holdings -10.8%. As of Aug 31, 2023, from the fund's annual report. Original document →
• The year ended Aug 31, 2022: the shares returned -10.2%, counting payouts; the holdings +4%. As of Aug 31, 2022, from the fund's annual report. Original document →
• Those five years together: the shares returned +13.7%. $10,000 of shares bought at the start (Sept 1, 2021) would have become about $11,400 by Aug 31, 2026, with every payout counted, before tax. As of Aug 31, 2026, from the fund's annual report. Original document →
• The holdings over the last twelve months we have, to Aug 31, 2026: +2%. The quarterly reports carry no share price, so this is the holdings alone. As of Aug 31, 2026, from the fund's quarterly holdings report. Original document →
• Of the 11 funds that invest in high-yield bonds with a fiscal year ending within six months of this one, 5 reported a higher share return for that year and 5 a lower one. As of Aug 31, 2026, from the fund's annual report. Original document →
• A past year says nothing about the next one. All figures are the fund's own, from its reports to the regulator.

Why the shares and the holdings can differ: the gap between price and value. Why payouts count: a payout that is your own money back.

What the fund holds

Mostly shares (68%), the rest bonds, cash and short-term holdings and loans. About 95% issued in the U.S.

1. NextEra Energy - 12.5%
2. Constellation Energy - 7.2%
3. Southern Co/The - 6%
4. American Electric Power - 5.4%
5. Entergy - 4.7%
6. Duke Energy - 4.6%
7. Vistra - 4.3%
8. Atmos Energy - 4.2%
9. Xcel Energy - 3.6%
10. Sempra - 3.6%

As of Aug 31, 2026, from the fund's quarterly holdings report. Original document →