Allspring Global Investments Holdings, LLC reports beneficial ownership of 842,008 shares of abrdn Japan Equity Fund Inc class Mutual Fund SH CL B, representing 11.9% of the class as of 09/30/2025. The filer states it has sole voting power for 803,932 shares and sole dispositive power for 842,008 shares, with no shared voting or dispositive power. The filing notes these securities are owned of record by clients of investment advisers owned directly or indirectly by the reporting parent, and that no client is known to hold more than 5% except as stated. Exhibit A identifies subsidiaries involved in the ownership.
Positive
11.9% stake (842,008 shares) in JEQ disclosed
Sole voting power over 803,932 shares
Sole dispositive power for all 842,008 reported shares
Ownership held in ordinary course, per certification
Negative
None.
Insights
Large passive stake disclosed; voting and disposal concentrated at the filer.
The filing shows a significant 842,008-share position equal to 11.9% of the class, with sole voting control of 803,932 shares and sole dispositive authority over all reported shares. This indicates centralized decision authority within the reporting entity for these shares.
Risks and dependencies include the fact that the shares are held of record for multiple clients, which may limit unilateral economic exposure changes by the filer; monitor any future amendments or Schedule 13D filings for changes in intent or control within a short-term horizon around proxy or corporate action dates.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 5)
abrdn Japan Equity Fund Inc
(Name of Issuer)
Mutual Fund SH CL B
(Title of Class of Securities)
00306J109
(CUSIP Number)
09/30/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
00306J109
1
Names of Reporting Persons
Allspring Global Investments Holdings, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
803,932.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
842,008.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
842,008.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
11.9 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
abrdn Japan Equity Fund Inc
(b)
Address of issuer's principal executive offices:
SUITE 200, 1900 MARKET STREET, PHILADELPHIA, US-PA, 19103, US
Item 2.
(a)
Name of person filing:
Allspring Global Investments Holdings, LLC
(b)
Address or principal business office or, if none, residence:
1415 Vantage Park Drive, Charlotte, 28203, North Carolina, United States
(c)
Citizenship:
DELAWARE
(d)
Title of class of securities:
Mutual Fund SH CL B
(e)
CUSIP No.:
00306J109
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
842,008
(b)
Percent of class:
11.9 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
803,932
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
842,008
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The securities as to which this Schedule is filed are owned of record by clients of one or more Investment Advisers identified in Exhibit A directly or indirectly owned by Allspring Global Investments Holdings, LLC. Those Clients have the right to receive, or the power to direct the receipt of, dividends from, or the proceeds for the sale of, such securities. No such client is known to have such right or power with respect to more than five percent of this class of securities, except as follows:
None
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See Exhibit A
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Allspring Global Investments Holdings, LLC
Signature:
Jennifer Grunberg
Name/Title:
Senior Compliance Manager
Date:
10/06/2025
Exhibit Information
Exhibit A
Subsidiary
Allspring Global Investments, LLC* - IA
Allspring Funds Management, LL - IA
*Entity beneficially owns 5% or greater of the outstanding shares of the security class being reported on
this schedule 13G.
What stake does Allspring Global Investments Holdings hold in JEQ?
The filer holds 842,008 shares, representing 11.9% of the class.
How many JEQ shares does the filer have sole voting power over?
The filer has sole voting power over 803,932 shares.
Does Allspring share dispositive power for the reported JEQ shares?
No; the filing reports sole dispositive power for all 842,008 shares and 0 shared dispositive power.
Are the reported JEQ shares owned on behalf of other clients?
Yes; the securities are owned of record by clients of investment advisers directly or indirectly owned by the reporting parent, with no client known to hold > 5% of the class.
Which subsidiary is identified as beneficial owner of ≥5%?
Exhibit A lists Allspring Global Investments, LLC as a subsidiary that beneficially owns ≥5%.
