Portfolio of investments—October 31, 2020 (unaudited) Shares Value Common Stocks: 97.49% Communication Services: 11.98% Entertainment: 2.25% Netflix Incorporated † 12,700 $ 6,041,898 Interactive Media & Services: 9.73% Alphabet Incorporated Class A † 9,557 15,445,163 Alphabet Incorporated Class C † 1,050 1,702,061 Match Group Incorporated † 32,586 3,805,393 Tencent Holdings Limited ADR 68,650 5,240,741 26,193,358 Consumer Discretionary: 19.88% Auto Components: 1.43% Aptiv plc 39,750 3,835,478 Automobiles: 1.37% Ferrari NV 20,700 3,693,294 Hotels, Restaurants & Leisure: 2.10% Chipotle Mexican Grill Incorporated † 4,700 5,646,956 Internet & Direct Marketing Retail: 11.87% Amazon.com Incorporated † 8,258 25,072,527 MercadoLibre Incorporated † 5,650 6,859,383 31,931,910 Specialty Retail: 3.11% The Home Depot Incorporated 31,416 8,378,961 Financials: 4.63% Capital Markets: 4.63% Intercontinental Exchange Incorporated 70,390 6,644,816 S&P Global Incorporated 18,041 5,822,372 12,467,188 Health Care: 14.37% Biotechnology: 1.81% Exact Sciences Corporation † 39,300 4,866,519 Health Care Equipment & Supplies: 6.72% Alcon Incorporated † 79,450 4,515,938 DexCom Incorporated † 10,950 3,499,401 Edwards Lifesciences Corporation † 54,350 3,896,352 Intuitive Surgical Incorporated † 9,250 6,170,490 18,082,181 Health Care Providers & Services: 3.69% UnitedHealth Group Incorporated 32,547 9,931,392 Pharmaceuticals: 2.15% Merck & Company Incorporated 76,950 5,787,410 See accompanying notes to portfolio of investments Wells Fargo Endeavor Select Fund | 1 Portfolio of investments—October 31, 2020 (unaudited) Shares Value Industrials: 6.76% Air Freight & Logistics: 1.93% United Parcel Service Incorporated Class B 33,100 $ 5,200,341 Commercial Services & Supplies: 2.44% Waste Connections Incorporated 66,140 6,569,025 Road & Rail: 2.39% Union Pacific Corporation 36,200 6,414,278 Information Technology: 32.82% Communications Equipment: 1.57% Motorola Solutions Incorporated 26,700 4,220,202 IT Services: 13.51% Fiserv Incorporated † 53,894 5,145,260 Global Payments Incorporated 35,743 5,638,101 MongoDB Incorporated Class A † 19,900 4,546,550 PayPal Holdings Incorporated † 52,300 9,734,599 Visa Incorporated Class A 62,128 11,289,279 36,353,789 Software: 17.74% Atlassian Corporation plc Class A † 29,000 5,556,980 Autodesk Incorporated † 22,900 5,393,866 Microsoft Corporation 119,981 24,292,553 ServiceNow Incorporated † 19,780 9,841,935 Unity Software Incorporated †« 28,116 2,667,646 47,752,980 Materials: 5.13% Chemicals: 5.13% Air Products & Chemicals Incorporated 20,700 5,718,168 The Sherwin-Williams Company 11,750 8,083,765 13,801,933 Real Estate: 1.92% Equity REITs: 1.92% SBA Communications Corporation 17,800 5,168,586 Total Common Stocks (Cost $123,184,757) 262,337,679 Yield Short-Term Investments: 3.26% Investment Companies: 3.26% Securities Lending Cash Investments LLC (l)(r)(u) 0.12% 2,970,375 2,970,375 Wells Fargo Government Money Market Fund Select Class (l)(u) 0.03 5,789,972 5,789,972 Total Short-Term Investments (Cost $8,760,347) 8,760,347 Total investments in securities (Cost $131,945,104) 100.75% 271,098,026 Other assets and liabilities, net (0.75) (2,017,301) Total net assets 100.00% $269,080,725 † Non-income-earning security « All or a portion of this security is on loan. See accompanying notes to portfolio of investments 2 | Wells Fargo Endeavor Select Fund Portfolio of investments—October 31, 2020 (unaudited) (l) The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. (r) The investment is a non-registered investment company purchased with cash collateral received from securities on loan. (u) The rate represents the 7-day annualized yield at period end. Abbreviations: ADR American depositary receipt REIT Real estate investment trust Investments in Affiliates An affiliated investment is an investment in which the Fund owns at least 5% of the outstanding voting shares of the issuer or as a result of other relationships, such as the Fund and the issuer having the same investment manager. Transactions with issuers that were either affiliated persons of the Fund at the beginning of the period or the end of the period were as follows: Net Net change in Income Value, realized unrealized % of Shares, from beginning Sales gains gains Value, end net end affiliated of period Purchases proceeeds (losses) (losses) of period assets of period securities Short-Term Investments Investment Companies Securities Lending Cash Investments LLC $ 0 $10,652,735 $ (7,682,360) $0 $0 $ 2,970,375 2,970,375 $ 126 # Wells Fargo Government Money Market Fund Select Class 12,402,416 14,783,079 (21,395,523) 0 0 5,789,972 5,789,972 574 $0 $0 $8,760,347 3.26% $700 # Amount shown represents income before fees and rebates. See accompanying notes to portfolio of investments Wells Fargo Endeavor Select Fund | 3 Notes to portfolio of investments—October 31, 2020 (unaudited) Securities valuation All investments are valued each business day as of the close of regular trading on the New York Stock Exchange (generally 4 p.m. Eastern Time), although the Fund may deviate from this calculation under unusual or unexpected circumstances. Equity securities that are listed on a foreign or domestic exchange or market are valued at the official closing price or, if none, the last sales price. If no sale occurs on the principal exchange or market that day, a fair value price will be determined in accordance with the Fund’s Valuation Procedures. Investments in registered open-end investment companies are valued at net asset value. Interests in non-registered investment companies that are redeemable at net asset value are fair valued normally at net asset value. Investments which are not valued using any of the methods discussed above are valued at their fair value, as determined in good faith by the Board of Trustees of the Fund. The Board of Trustees has established a Valuation Committee comprised of the Trustees and has delegated to it the authority to take any actions regarding the valuation of portfolio securities that the Valuation Committee deems necessary or appropriate, including determining the fair value of portfolio securities, unless the determination has been delegated to the Wells Fargo Asset Management Pricing Committee at Wells Fargo Funds Management, LLC (“Funds Management”). The Board of Trustees retains the authority to make or ratify any valuation decisions or approve any changes to the Valuation Procedures as it deems appropriate. On a quarterly basis, the Board of Trustees receives reports on any valuation actions taken by the Valuation Committee or the Wells Fargo Asset Management Pricing Committee which may include items for ratification. Foreign currency translation The accounting records of the Fund are maintained in U.S. dollars. The values of other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Wells Fargo Asset Management Pricing Committee. Purchases and sales of securities, and income and expenses are converted at the rate of exchange on the respective dates of such transactions. Net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the U.S. dollar equivalent of the amounts actually paid or received. Net unrealized foreign exchange gains and losses arise from changes in the fair value of assets and liabilities other than investments in securities resulting from changes in exchange rates. The changes in net assets arising from changes in exchange rates of securities and the changes in net assets resulting from changes in market prices of securities are not separately presented. Such changes are included in net realized and unrealized gains or losses from investments. Securities lending The Fund may lend its securities from time to time in order to earn additional income in the form of fees or interest on securities received as collateral or the investment of any cash received as collateral. When securities are on loan, the Fund receives interest or dividends on those securities. Cash collateral received in connection with its securities lending transactions is invested in Securities Lending Cash Investments, LLC (the “Securities Lending Fund”). Investments in Securities Lending Fund are valued at the evaluated bid price provided by an independent pricing service. The Securities Lending Fund is exempt from registration under Section 3(c)(7) of the Investment Company Act of 1940 and is managed by Funds Management and is subadvised by Wells Capital Management Incorporated (“WellsCap”), an affiliate of Funds Management and an indirect wholly owned subsidiary of Wells Fargo & Company. Funds Management receives an advisory fee starting at 0.05% and declining to 0.01% as the average daily net assets of the Securities Lending Fund increase. All of the fees received by Funds Management are paid to WellsCap for its services as subadviser. The Securities Lending Fund seeks to provide a positive return compared to the daily Fed Funds Open Rate by investing in high-quality, U.S. dollar-denominated short-term money market instruments. Securities Lending Fund investments are valued at the evaluated bid price provided by an independent pricing service. In a securities lending transaction, the net asset value of the Fund is affected by an increase or decrease in the value of the securities loaned and by an increase or decrease in the value of the instrument in which collateral is invested.