Company: PDSRX
Filing Date: 2025-11-25
Form Type: N-CSRS
Source: 0001756404-25-000041
Chunk: 47

Company: Principal Real Asset Fund
Filing Date: 2025-11-25
Form: N-CSRS
Chunk 47
---

redemption

frequencies

and

are

considered

restricted

securities.

Please

see

Private

Investment

Funds

sub-

schedule

for

additional

information.

(c)

Non-income

producing

security

(d)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,187

or

0.73%

of

net

assets.**

#### Portfolio

#### Summary
Sector

Percent

### Financial
31

.92‌

%

Energy

22

.44‌

%

Consumer,

Non-cyclical

18

.62‌

%

Exchange-Traded

Funds

9

.05‌

%

Industrial

6

.25‌

%

Utilities

4

.88‌

%

Materials

3

.52‌

%

Basic

Materials

2

.34‌

%

Money

Market

Funds

0

.75‌

%

Communications

0

.23‌

%

Consumer,

Cyclical

0

.00‌

%

Other

Assets

and

Liabilities

0

.00‌

%

#### TOTAL

#### NET

### ASSETS
100.00%

#### Private

#### Investment

#### Funds
Security

Name

Acquisition

Date

Cost

Value

Redemption

Notice

(days)

Percent

of

Net

Assets

ACIP

Parallel

Fund

A,

LP

(a)

11/15/2021

-

09/25/2025

$

6,458‌

$

5,115‌

N/A

3.12%

Blackstone

Infrastructure

Partners

F2,

LP

(b)

09/27/2024

6,000‌

6,691‌

90

4.09%

Brookfield

Senior

Mezzanine

Real

Estate

Finance

Fund,

LP

(c)

03/31/2022

5,000‌

1,875‌

N/A

1.15%

BTG

Pactual

Open

Ended

Core

US

Timberland

Fund