Company: PGZ
Filing Date: 2025-07-03
Form Type: N-CSRS
Source: 0001398344-25-012685
Chunk: 9

Company: Principal Real Estate Income Fund
Filing Date: 2025-07-03
Form: N-CSRS
Chunk 9
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SECTOR ALLOCATION ^

| ^ | Holdings are subject to change. |

Percentages are based on total investments of the Fund.

GEOGRAPHIC BREAKDOWN as of April 30, 2025

|                        | % of Total  
 Investments |
| United States          | 88.89%      |
| Australia              | 2.63%       |
| France                 | 2.40%       |
| Japan                  | 2.27%       |
| Hong Kong              | 0.95%       |
| Great Britain          | 0.88%       |
| Canada                 | 0.80%       |
| Singapore              | 0.63%       |
| Belgium                | 0.32%       |
| South Korea            | 0.14%       |
| British Virgin Islands | 0.09%       |
|                        | 100.00%     |

Holdings are subject to change.

| 8 | www.principalcef.com |

| Principal Real Estate Income Fund | Statement of Investments |

April 30, 2025 (Unaudited)

| Description                                       
 COMMON STOCKS (43.78%)                            
 Real Estate Management/Services (0.47%)           |     | Shares |         |     | Value    
 (Note 2) |            |
|:--------------------------------------------------|:----|:-------|--------:|:----|:---------|-----------:|
| ESR Kendall Square REIT Co., Ltd.                 |     |        |  44,733 |     | $        |    153,411 |
| Qualitas, Ltd.                                    |     |        | 133,777 |     |          |    212,513 |
|                                                   |     |        |         |     |          |    365,924 |
| Real Estate Operation/Development (1.76%)         |     |        |         |     |          |            |
| Hongkong Land Holdings, Ltd.                      |     |        | 143,400 |     |          |    701,226 |
| Mitsui Fudosan Co., Ltd.                          |     |        |  66,800 |     |          |    658,282 |
|                                                   |     |        |         |     |          |  1,359,508 |
| REITS-Apartments (6.10%)                          |     |        |         |     |          |            |
| AvalonBay