Company: PDSRX
Filing Date: 2025-11-25
Form Type: N-CSRS
Source: 0001756404-25-000041
Chunk: 38

Company: Principal Real Asset Fund
Filing Date: 2025-11-25
Form: N-CSRS
Chunk 38
---
 2025
**(unaudited)

See

accompanying

notes.

14**

### INVESTMENT

### COMPANIES
#### -

#### 9

#### .80
#### %

#### Shares

#### Held

#### Value
**(000's)**

#### Exchange-Traded

#### Funds
#### -

#### 9

#### .05
#### %

iShares

Global

Infrastructure

ETF

121,100‌

$

7,402‌

iShares

U.S.

Infrastructure

ETF

140,395‌

7,416‌

$

14,818‌

#### Money

#### Market

#### Funds
#### -

#### 0

#### .75
#### %

Morgan

Stanley

Institutional

### Liquidity
Funds

-

Government

Portfolio

-

Institutional

Class

4.05%

(a)

1,221,211‌

1,221‌

TOTAL

### INVESTMENT

### COMPANIES
$

16,039‌

### PRIVATE

### INVESTMENT

#### FUNDS
#### -

#### 67

#### .25
#### %

#### Shares

#### Held

#### Value
**(000's)**

#### Agriculture
#### -

#### 17

#### .78
#### %

Ceres

Farmland

Holdings,

LP

(b)

N/A

$

12,279‌

Hancock

Timberland

and

Farmland

Fund,

LP

(b)

N/A

10,997‌

UBS

AgriVest

Farmland

Fund

(b)

N/A

5,827‌

$

29,103‌

#### Energy
#### -

#### Alternate

#### Sources
#### -

#### 19

#### .80
#### %

ACIP

Parallel

Fund

A,

LP

(b)

N/A

5,115‌

Blackstone

Infrastructure

Partners

F2,

LP

(b)

N/A

6,691‌

CBRE

Caledon

Global

Infrastructure

Fund

(International),

LP

(b)

N/A

11,328‌

IFM

Net

Zero

Infrastructure

Fund

(USD)

B,

SCSp

(b)

N/A

5,853‌

Macquarie

Green

Energy

and

Climate

Opportunities

Fund,

SCSp

(b)

N/A

3,419‌

$

32,406‌

#### Forest

#### Products
#### &

#### Paper
#### -