Company: PDSRX
Filing Date: 2025-11-25
Form Type: N-CSRS
Source: 0001756404-25-000041
Chunk: 52

Company: Principal Real Asset Fund
Filing Date: 2025-11-25
Form: N-CSRS
Chunk 52
---

the

holding

period

has

expired,

redemptions

are

permitted

with

written

redemption

notice

given

by

April

30th

of

that

year.

(k)

The

fund

will

primarily

invest,

directly

or

indirectly,

in

core

and

core

plus

infrastructure

assets

and

infrastructure

investments

focused

on

the

infrastructure

and

power

sectors.

Redemptions

are

subject

to

a

three-year

holding

period

from

the

acquisition

date.

#### Schedule

#### of

#### Investments

#### Principal

#### Real

#### Asset

#### Fund

#### September

#### 30,

#### 2025
**(unaudited)

See

accompanying

notes.

17

(l)

This

feeder

fund

represents

an

indirect

ownership

of

the

IFM

Core

Energy

Transition

Fund

SCSp

which

seeks

to

achieve

long-term

capital

appreciation

as

well

as

current

income

through

equity

and

equity-related

investments

in

infrastructure

assets

that

IFM

believes

will

seek

to

accelerate

the

world’s

transition

to

a

net-zero

emissions

economy.  Redemptions

are

subject

to

a

two-year

holding

period

of

the

acquisition

date.  Withdrawal

requests

need

to

be

provided

in

writing

at

least

90

days

prior

to

the

first

day

of

any

calendar

quarter.

(m)

The

fund's

primary

objective

will

be

to

make

equity

and

equity

like

investments

in

a

diversified

portfolio

of

sustainable

infrastructure,

real

assets,

and

businesses,

primarily

those

focused

on

the

development

and

deployment

of

mature

sustainable

technologies

and,

through

their

operations,

contribute

towards

accelerating

the

global

energy

transition.  Redemptions

are

subject

to

a

five-year

holding

period

from