Company: PDSRX
Filing Date: 2025-11-25
Form Type: N-CSRS
Source: 0001756404-25-000041
Chunk: 30

Company: Principal Real Asset Fund
Filing Date: 2025-11-25
Form: N-CSRS
Chunk 30
---
081

Utilities

5,806

2,183

—

7,989

#### Investment

#### Companies*
16,039

—

—

16,039

#### Total
$

40,357

$

13,250

$

—

$

53,607

#### Investments

#### Using

#### NAV

#### as

#### practical

#### expedient

#### Private

#### Investment

#### Funds
110,085

#### Total

#### investments

#### in

#### securities
$

163,692

#### 4.

#### Fair

#### Valuation
**(continued)**

#### Notes

#### to

### Financial

#### Statements

#### Principal

#### Real

#### Asset

#### Fund

#### September

#### 30,

#### 2025
**(unaudited)

11**

#### 5.

### Management

#### Agreement

#### and

#### Transactions

#### with

#### Affiliates

### Management

#### Services.
The

Fund

has

agreed

to

pay

### management
and

investment

advisory

fees

to

the

Manager

computed

at

an

annual

percentage

rate

of

the

Fund’s

average

daily

net

assets.

A

portion

of

the

### management
fee

is

paid

by

the

Manager

to

the

sub-advisors

of

the

Fund,

which

may

be

affiliates

of

the

Manager.

The

annual

rate

paid

by

the

Fund

is

based

upon

the

aggregate

average

daily

net

assets

(“aggregate

net

assets”)

of

the

Fund.

The

### management
and

investment

advisory

fees

schedule

for

the

Fund

is

1.70%

of

aggregate

net

assets

up

to

$1.5

billion

and

1.65%

of

aggregate

net

assets

over

$1.5

billion.

The

Manager

has

contractually

agreed

to

waive

0.82%

of

the

Fund’s

### management
and

investment

advisory

fees.

It

is

expected

that

the

fee

waiver

will

continue

through

the

period

ending

July

31,

2026;

however,

the

Fund

and

the

Manager