# EDGAR Filing Document

**Accession Number:** 0000898745
**File Stem:** 0000898745-25-000636
**Filing Date:** 2025-10
**Character Count:** 82066
**Document Hash:** 7b870ea448ec22e00b2aeaf8c3bd2002
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000898745-25-000636.hdr.sgml**: 20251024

**ACCESSION NUMBER**: 0000898745-25-000636

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251024

**DATE AS OF CHANGE**: 20251024

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRINCIPAL FUNDS, INC.
- **CENTRAL INDEX KEY:** 0000898745

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07572
- **FILM NUMBER:** 251415062

**BUSINESS ADDRESS:**
- **STREET 1:** 711 HIGH STREET
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50392
- **BUSINESS PHONE:** 515-235-9328

**MAIL ADDRESS:**
- **STREET 1:** PRINCIPAL FINANCIAL GROUP
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50392

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL FUNDS, INC
- **DATE OF NAME CHANGE:** 20211220

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL FUNDS INC
- **DATE OF NAME CHANGE:** 20080616

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL INVESTORS FUND INC
- **DATE OF NAME CHANGE:** 20001012

## Series and Classes Contracts Data

### Capital Securities Fund (Series ID: S000041598)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000129138 | Class S      | PCSFX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Principal Funds, Inc

- **b. Investment Company Act file number:** 811-07572

- **c. CIK number of Registrant:** 0000898745

- **d. LEI of Registrant:** 549300HZGBXSW6DSXF23

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 801 Grand Ave

  - **City:** Des Moines

  - **State:** IA

  - **Foreign country:** US

  - **Zip / Postal Code:** 50309

  - **Telephone number:** 515-235-1719

**Item A.2. Information about the Series.**

- **a. Name of Series:** Capital Securities Fund

- **b. EDGAR series identifier (if any):** S000041598

- **c. LEI of Series:** 549300LDBWOXFENXBB36

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-08-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1114452986.83

**Total Liabilities:** $39592358.35

**Net Assets:** $1074860628.48

**Cash Not Reported:** $290.57

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 85.12000000 | **1-Year:** 17724.41000000 | **5-Year:** 80979.19000000 | **10-Year:** 37511.68000000 | **30-Year:** 2248.96000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 18.56000000 | **1-Year:** 3865.44000000 | **5-Year:** 17660.41000000 | **10-Year:** 8180.76000000 | **30-Year:** 490.47000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000129138 | 1.41%                | 0.71%                | 0.74%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1070127.99             | $12521532.64                               |
| Month 2  | $-201266.56              | $2090284.81                                |
| Month 3  | $-316228.16              | $4023782.28                                |

**Designated Index Information**

- **Index Name:** Fund Securities Portfolio

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                                      | Title                                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Societe Generale SA                                       | Societe Generale SA                                       | CUSIP: 83370RAD0<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   3600000 | PA      | $3799479.60   | 0.35%             | N/A             | Variable      | 8.50%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                              | UBS Group AG                                              | CUSIP: 902613AJ7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  12000000 | PA      | $11804886.00  | 1.10%             | N/A             | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                             | Citigroup Inc                                             | CUSIP: 172967PC9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3600000 | PA      | $3740407.20   | 0.35%             | N/A             | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Public Storage                                            | Public Storage                                            | CUSIP: 74460W396<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |      5800 | NS      | $96106.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander SA                                        | Banco Santander SA                                        | CUSIP: 05971KAP4<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   3000000 | PA      | $3320936.91   | 0.31%             | N/A             | Variable      | 9.63%                 | No            |                  2 | On Loan: No      |
| PNC Capital Trust C                                       | PNC Capital Trust C                                       | CUSIP: 69349AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2948316.48   | 0.27%             | 2028-06-01      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                      | Royal Bank of Canada                                      | CUSIP: 780082AR4<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  19644000 | PA      | $20538627.05  | 1.91%             | 2084-05-02      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| Zurich Finance Ireland Designated Activity Co             | Zurich Finance Ireland Designated Activity Co             | CUSIP: N/A<br>LEI: 549300E0FVHYR37EGX65       | Long             | DBT              | CORP              | IE        |  31200000 | PA      | $27882265.94  | 2.59%             | 2051-04-19      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Huntington Bancshares Inc/OH                              | Huntington Bancshares Inc/OH                              | CUSIP: 446150AT1<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   8010000 | PA      | $8163936.18   | 0.76%             | N/A             | Variable      | 5.63%                 | No            |                  2 | On Loan: No      |
| M&T Bank Corp                                             | M&T Bank Corp                                             | CUSIP: 55261FAN4<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7732856.00   | 0.72%             | N/A             | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Nippon Life Insurance Co                                  | Nippon Life Insurance Co                                  | CUSIP: 654579AK7<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |  10500000 | PA      | $9284282.18   | 0.86%             | 2051-09-16      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| Public Storage                                            | Public Storage                                            | CUSIP: 74460W537<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |     12718 | NS      | $213153.68    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Operating LLC                         | Enterprise Products Operating LLC                         | CUSIP: 29379VBR3<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1286196.99   | 0.12%             | 2078-02-15      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| Liberty Mutual Group Inc                                  | Liberty Mutual Group Inc                                  | CUSIP: 53079EAN4<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |   6100000 | PA      | $6997427.67   | 0.65%             | 2087-03-07      | Fixed         | 7.80%                 | No            |                  2 | On Loan: No      |
| NatWest Group PLC                                         | NatWest Group PLC                                         | CUSIP: 639057AD0<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |  18000000 | PA      | $16141872.60  | 1.50%             | N/A             | Variable      | 4.60%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group Inc/The                               | Goldman Sachs Group Inc/The                               | CUSIP: 38141GA38<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1060371.00   | 0.10%             | N/A             | Variable      | 7.50%                 | No            |                  2 | On Loan: —       |
| EUSHI Finance Inc                                         | EUSHI Finance Inc                                         | CUSIP: 29882DAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $522399.50    | 0.05%             | 2054-12-15      | Variable      | 7.63%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity FedFund - Institutional Class         | BlackRock Liquidity FedFund - Institutional Class         | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |   2773014 | NS      | $2773013.80   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial Inc                                        | Voya Financial Inc                                        | CUSIP: 929089AG5<br>LEI: 549300T065Z4KJ686G75 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1476568.80   | 0.14%             | N/A             | Variable      | 7.76%                 | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                                    | Standard Chartered PLC                                    | CUSIP: 853254DF4<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   2100000 | PA      | $2182566.60   | 0.20%             | N/A             | Variable      | 7.63%                 | No            |                  2 | On Loan: No      |
| Sempra                                                    | Sempra                                                    | CUSIP: 816851BU2<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1504159.50   | 0.14%             | 2055-04-01      | Variable      | 6.63%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                           | Nordea Bank Abp                                           | CUSIP: 65559CAA9<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   5400000 | PA      | $5431077.00   | 0.51%             | N/A             | Variable      | 6.63%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                         | Enterprise Products Operating LLC                         | CUSIP: 29379VBN2<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |   7938000 | PA      | $7854574.00   | 0.73%             | 2077-08-16      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings Inc                       | NextEra Energy Capital Holdings Inc                       | CUSIP: 302570AW6<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   2291000 | PA      | $2128062.02   | 0.20%             | 2066-10-01      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                                    | Standard Chartered PLC                                    | CUSIP: 853254AC4<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   2000000 | PA      | $2071380.00   | 0.19%             | N/A             | Variable      | 7.01%                 | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                                    | Standard Chartered PLC                                    | CUSIP: 853254AB6<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   7100000 | PA      | $7353399.00   | 0.68%             | N/A             | Variable      | 7.01%                 | No            |                  2 | On Loan: —       |
| Deutsche Bank AG                                          | Deutsche Bank AG                                          | CUSIP: N/A<br>LEI: 7LTWFZYICNSX8D621K86       | Long             | DBT              | CORP              | DE        |   7000000 | PA      | $7332500.00   | 0.68%             | N/A             | Variable      | 8.13%                 | No            |                  2 | On Loan: —       |
| Cloverie PLC for Zurich Insurance Co Ltd                  | Cloverie PLC for Zurich Insurance Co Ltd                  | CUSIP: N/A<br>LEI: 5493002N598MXOKUEF55       | Long             | DBT              | CORP              | IE        |   4900000 | PA      | $4918080.80   | 0.46%             | 2046-06-24      | Variable      | 5.63%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                       | Intesa Sanpaolo SpA                                       | CUSIP: 46115HAU1<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   7000000 | PA      | $7007266.00   | 0.65%             | N/A             | Variable      | 7.70%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                            | BNP Paribas SA                                            | CUSIP: 05565ALQ4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   3500000 | PA      | $3137548.40   | 0.29%             | N/A             | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp                                | Capital One Financial Corp                                | CUSIP: 14040HCF0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |  10200000 | PA      | $9995156.46   | 0.93%             | N/A             | Variable      | 3.95%                 | No            |                  2 | On Loan: —       |
| Assurant Inc                                              | Assurant Inc                                              | CUSIP: 04621X306<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EP               | CORP              | US        |     29885 | NS      | $609952.85    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Holdings PLC                                         | HSBC Holdings PLC                                         | CUSIP: 404280BL2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   3000000 | PA      | $3000675.00   | 0.28%             | N/A             | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                          | Bank of Montreal                                          | CUSIP: 06368L5Q5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   2500000 | PA      | $2621990.00   | 0.24%             | 2084-11-26      | Variable      | 7.30%                 | No            |                  2 | On Loan: No      |
| Nomura Holdings Inc                                       | Nomura Holdings Inc                                       | CUSIP: 65535HCC1<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    600000 | PA      | $614997.60    | 0.06%             | N/A             | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                      | Royal Bank of Canada                                      | CUSIP: 780082AT0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   8550000 | PA      | $8283963.33   | 0.77%             | 2084-11-24      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co Inc                            | American Electric Power Co Inc                            | CUSIP: 025537AU5<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   7100000 | PA      | $6883375.17   | 0.64%             | 2062-02-15      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                         | HSBC Holdings PLC                                         | CUSIP: 404280FA2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1031619.00   | 0.10%             | N/A             | Variable      | 7.05%                 | No            |                  2 | On Loan: No      |
| Zurich Finance Ireland Designated Activity Co             | Zurich Finance Ireland Designated Activity Co             | CUSIP: N/A<br>LEI: 549300E0FVHYR37EGX65       | Long             | DBT              | CORP              | IE        |   7200000 | PA      | $6453971.42   | 0.60%             | 2052-05-02      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                       | JPMorgan Chase & Co                                       | CUSIP: 48128BAQ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   7600000 | PA      | $7985897.60   | 0.74%             | N/A             | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Southern Co/The                                           | Southern Co/The                                           | CUSIP: 842587EB9<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2092668.00   | 0.19%             | 2055-03-15      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| Huntington Capital II                                     | Huntington Capital II                                     | CUSIP: 446284AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2290263.36   | 0.21%             | 2028-06-15      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                             | Citigroup Inc                                             | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  10583000 | PA      | $10459517.56  | 0.97%             | N/A             | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Wintrust Financial Corp                                   | Wintrust Financial Corp                                   | CUSIP: 97650W702<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EP               | CORP              | US        |     95600 | NS      | $2524796.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                             | Rexford Industrial Realty Inc                             | CUSIP: 76169C407<br>LEI: 549300MSLO0DF0EMX355 | Long             | EP               | CORP              | US        |     70660 | NS      | $1586317.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                              | UBS Group AG                                              | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | DBT              | CORP              | CH        |   2500000 | PA      | $2241489.75   | 0.21%             | N/A             | Variable      | 4.38%                 | No            |                  2 | On Loan: —       |
| Bank of America Corp                                      | Bank of America Corp                                      | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  14500000 | PA      | $14927866.00  | 1.39%             | N/A             | Variable      | 6.63%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                        | Energy Transfer LP                                        | CUSIP: 29273VBH2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5473046.48   | 0.51%             | 2056-02-15      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Dai-ichi Life Insurance Co Ltd/The                        | Dai-ichi Life Insurance Co Ltd/The                        | CUSIP: 23381LAA2<br>LEI: 3538001235ACEIORUV72 | Long             | DBT              | CORP              | JP        |   6000000 | PA      | $6221034.00   | 0.58%             | N/A             | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                  | Lloyds Banking Group PLC                                  | CUSIP: 539439AU3<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |  15150000 | PA      | $15185375.25  | 1.41%             | N/A             | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                | US Bancorp                                                | CUSIP: 902973BC9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |  32500000 | PA      | $31298910.50  | 2.91%             | N/A             | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| Transcanada Trust                                         | Transcanada Trust                                         | CUSIP: 89356BAB4<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |   3500000 | PA      | $3502145.50   | 0.33%             | 2076-08-15      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd/United Kingdom  | Australia & New Zealand Banking Group Ltd/United Kingdom  | CUSIP: 05254HAA2<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |   1900000 | PA      | $1925114.09   | 0.18%             | N/A             | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                          | Bank of Montreal                                          | CUSIP: 06368L8V1<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   4800000 | PA      | $4829448.00   | 0.45%             | 2085-11-26      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Regions Financial Corp                                    | Regions Financial Corp                                    | CUSIP: 7591EP860<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EP               | CORP              | US        |    107520 | NS      | $2762188.80   | 0.26%             |  |  |  | No            |                  1 | On Loan: —       |
| State Street Corp                                         | State Street Corp                                         | CUSIP: 857477CM3<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |  10800000 | PA      | $11185052.40  | 1.04%             | N/A             | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| Cullen/Frost Bankers Inc                                  | Cullen/Frost Bankers Inc                                  | CUSIP: 229899307<br>LEI: 529900V2E9G9AY665O34 | Long             | EP               | CORP              | US        |     55739 | NS      | $1010548.07   | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Bank of New York Mellon Corp/The                          | Bank of New York Mellon Corp/The                          | CUSIP: 064058AJ9<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $24590915.00  | 2.29%             | N/A             | Variable      | 3.70%                 | No            |                  2 | On Loan: —       |
| Energy Transfer LP                                        | Energy Transfer LP                                        | CUSIP: 29273VBG4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2583053.04   | 0.24%             | 2056-02-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Meiji Yasuda Life Insurance Co                            | Meiji Yasuda Life Insurance Co                            | CUSIP: 585270AE1<br>LEI: 549300SLU4LP6YMRLK07 | Long             | DBT              | CORP              | JP        |    400000 | PA      | $411936.00    | 0.04%             | 2055-06-11      | Variable      | 6.10%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                              | ING Groep NV                                              | CUSIP: 456837AR4<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   7515000 | PA      | $7525889.24   | 0.70%             | N/A             | Variable      | 5.75%                 | No            |                  2 | On Loan: —       |
| Citigroup Inc                                             | Citigroup Inc                                             | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2238519.80   | 0.21%             | N/A             | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Citizens Financial Group Inc                              | Citizens Financial Group Inc                              | CUSIP: 174610BD6<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   4900000 | PA      | $4788293.72   | 0.45%             | N/A             | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                         | HSBC Holdings PLC                                         | CUSIP: 404280BP3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $508536.00    | 0.05%             | N/A             | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                        | Banco Santander SA                                        | CUSIP: 05964HBH7<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   1000000 | PA      | $1086725.00   | 0.10%             | N/A             | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| Meiji Yasuda Life Insurance Co                            | Meiji Yasuda Life Insurance Co                            | CUSIP: 585270AD3<br>LEI: 549300SLU4LP6YMRLK07 | Long             | DBT              | CORP              | JP        |   3600000 | PA      | $3666106.80   | 0.34%             | 2054-09-11      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| M&T Bank Corp                                             | M&T Bank Corp                                             | CUSIP: 55261FAH7<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3968068.00   | 0.37%             | N/A             | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| CoBank ACB                                                | CoBank ACB                                                | CUSIP: 19075QAD4<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | USGSE             | US        |   2000000 | PA      | $1930853.40   | 0.18%             | N/A             | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| CoBank ACB                                                | CoBank ACB                                                | CUSIP: 19075QAE2<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | USGSE             | US        |   5000000 | PA      | $5059860.00   | 0.47%             | N/A             | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                         | HSBC Holdings PLC                                         | CUSIP: 404280DT3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   5000000 | PA      | $5280885.00   | 0.49%             | N/A             | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                              | Barclays PLC                                              | CUSIP: 06738EBT1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  18000000 | PA      | $16971825.60  | 1.58%             | N/A             | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| Liberty Mutual Group Inc                                  | Liberty Mutual Group Inc                                  | CUSIP: 53079EBM5<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |  11500000 | PA      | $11278576.01  | 1.05%             | 2051-12-15      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp/The                                   | Charles Schwab Corp/The                                   | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |  22200000 | PA      | $21865530.36  | 2.03%             | N/A             | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Scentre Group Trust 2                                     | Scentre Group Trust 2                                     | CUSIP: 76025LAB0<br>LEI: 549300VRF0U0JH8TBJ74 | Long             | DBT              | CORP              | AU        |   4500000 | PA      | $4504693.50   | 0.42%             | 2080-09-24      | Variable      | 5.13%                 | No            |                  2 | On Loan: —       |
| Standard Chartered PLC                                    | Standard Chartered PLC                                    | CUSIP: 853254DA5<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1058060.00   | 0.10%             | N/A             | Variable      | 7.88%                 | No            |                  2 | On Loan: —       |
| MetLife Inc                                               | MetLife Inc                                               | CUSIP: 59156RBS6<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |  10372000 | PA      | $12326043.31  | 1.15%             | 2068-04-08      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia/The                                   | Bank of Nova Scotia/The                                   | CUSIP: 0641598N9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  14200000 | PA      | $13393288.06  | 1.25%             | 2081-10-27      | Variable      | 3.63%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank/The                                 | Toronto-Dominion Bank/The                                 | CUSIP: 89116CKP1<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1038884.00   | 0.10%             | 2084-07-31      | Variable      | 7.25%                 | No            |                  2 | On Loan: No      |
| Swiss RE Subordinated Finance PLC                         | Swiss RE Subordinated Finance PLC                         | CUSIP: 87088QAB0<br>LEI: 636700H29EH5Z8ZU8L04 | Long             | DBT              | CORP              | GB        |   4600000 | PA      | $4638226.05   | 0.43%             | 2046-04-01      | Variable      | 6.19%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group Inc/The                               | Goldman Sachs Group Inc/The                               | CUSIP: 38144GAG6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   7100000 | PA      | $6921958.27   | 0.64%             | N/A             | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Swedbank AB                                               | Swedbank AB                                               | CUSIP: N/A<br>LEI: M312WZV08Y7LYUC71685       | Long             | DBT              | CORP              | SE        |   3000000 | PA      | $3187500.00   | 0.30%             | N/A             | Variable      | 7.75%                 | No            |                  2 | On Loan: No      |
| Prudential Financial Inc                                  | Prudential Financial Inc                                  | CUSIP: 744320BP6<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2102120.00   | 0.20%             | 2054-03-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                       | Societe Generale SA                                       | CUSIP: F8600KAA4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    600000 | PA      | $660344.40    | 0.06%             | N/A             | Variable      | 10.00%                | No            |                  2 | On Loan: No      |
| Goldman Sachs Group Inc/The                               | Goldman Sachs Group Inc/The                               | CUSIP: 38141GC28<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1029873.00   | 0.10%             | N/A             | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| Algonquin Power & Utilities Corp                          | Algonquin Power & Utilities Corp                          | CUSIP: 015857AH8<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |   5000000 | PA      | $4862213.50   | 0.45%             | 2082-01-18      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp                                     | Truist Financial Corp                                     | CUSIP: 86787XAA3<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4467701.07   | 0.42%             | 2027-05-15      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| American Express Co                                       | American Express Co                                       | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |  40789000 | PA      | $39800539.77  | 3.70%             | N/A             | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group Inc/The                      | PNC Financial Services Group Inc/The                      | CUSIP: 693475BP9<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |  13500000 | PA      | $13654386.00  | 1.27%             | N/A             | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Transcanada Trust                                         | Transcanada Trust                                         | CUSIP: 89356BAG3<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |   7300000 | PA      | $7147624.91   | 0.66%             | 2082-03-07      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                              | UBS Group AG                                              | CUSIP: 902613BR8<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   3900000 | PA      | $3899742.33   | 0.36%             | N/A             | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                            | BNP Paribas SA                                            | CUSIP: 05565A5R0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2000000 | PA      | $2124328.00   | 0.20%             | N/A             | Variable      | 8.50%                 | No            |                  2 | On Loan: No      |
| Affiliated Managers Group Inc                             | Affiliated Managers Group Inc                             | CUSIP: 008252835<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |      9119 | NS      | $148001.37    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                              | UBS Group AG                                              | CUSIP: 225401BH0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2000000 | PA      | $2028828.16   | 0.19%             | N/A             | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| NiSource Inc                                              | NiSource Inc                                              | CUSIP: 65473PAR6<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6238734.00   | 0.58%             | 2054-11-30      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group Inc/The                               | Goldman Sachs Group Inc/The                               | CUSIP: 38141GA79<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $12596820.00  | 1.17%             | N/A             | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co Inc                            | American Electric Power Co Inc                            | CUSIP: 025537BA8<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2126312.00   | 0.20%             | 2054-12-15      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                             | Citigroup Inc                                             | CUSIP: 172967PR6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1008104.00   | 0.09%             | N/A             | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets PLC                                    | BP Capital Markets PLC                                    | CUSIP: 05565QDV7<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |   3000000 | PA      | $2973871.65   | 0.28%             | N/A             | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| CoBank ACB                                                | CoBank ACB                                                | CUSIP: 19075QAC6<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | USGSE             | US        |   1000000 | PA      | $1000410.00   | 0.09%             | N/A             | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Argentum Netherlands BV for Zurich Insurance Co Ltd       | Argentum Netherlands BV for Zurich Insurance Co Ltd       | CUSIP: N/A<br>LEI: 50ZCTKCMUDIABGHX3R52       | Long             | DBT              | CORP              | NL        |   2000000 | PA      | $2003021.64   | 0.19%             | 2048-06-01      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group Inc/The                      | PNC Financial Services Group Inc/The                      | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2032028.00   | 0.19%             | N/A             | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| Citizens Financial Group Inc                              | Citizens Financial Group Inc                              | CUSIP: 174610AQ8<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   3462000 | PA      | $3464928.85   | 0.32%             | N/A             | Variable      | 7.70%                 | No            |                  2 | On Loan: No      |
| Farm Credit Bank of Texas                                 | Farm Credit Bank of Texas                                 | CUSIP: 30767EAF6<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | DBT              | USGSE             | US        |   4477000 | PA      | $4588087.80   | 0.43%             | N/A             | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group Inc/The                               | Goldman Sachs Group Inc/The                               | CUSIP: 38144GAE1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    444000 | PA      | $435601.12    | 0.04%             | N/A             | Variable      | 3.80%                 | No            |                  2 | On Loan: —       |
| Citigroup Inc                                             | Citigroup Inc                                             | CUSIP: 172967PM7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   6760000 | PA      | $7095248.68   | 0.66%             | N/A             | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                       | FX Forwards                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-0.31        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                        | Canadian Imperial Bank of Commerce                        | CUSIP: 13607PNF7<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   5500000 | PA      | $5531889.00   | 0.51%             | 2085-01-28      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| Transcanada Trust                                         | Transcanada Trust                                         | CUSIP: 89356BAE8<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |  12500000 | PA      | $12313771.25  | 1.15%             | 2079-09-15      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Swiss RE Subordinated Finance PLC                         | Swiss RE Subordinated Finance PLC                         | CUSIP: 87088QAA2<br>LEI: 636700H29EH5Z8ZU8L04 | Long             | DBT              | CORP              | GB        |   1600000 | PA      | $1635839.81   | 0.15%             | 2035-04-05      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| TELUS Corp                                                | TELUS Corp                                                | CUSIP: 87971MCL5<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |   1100000 | PA      | $1119068.92   | 0.10%             | 2055-10-15      | Variable      | 6.63%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                       | Societe Generale SA                                       | CUSIP: 83371GAA9<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   7000000 | PA      | $7704018.00   | 0.72%             | N/A             | Variable      | 10.00%                | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia/The                                   | Bank of Nova Scotia/The                                   | CUSIP: 0641598X7<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   3675000 | PA      | $3777543.53   | 0.35%             | 2085-04-27      | Variable      | 7.35%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group Inc/The                      | PNC Financial Services Group Inc/The                      | CUSIP: 693475BD6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   5600000 | PA      | $5637486.40   | 0.52%             | N/A             | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                             | Citigroup Inc                                             | CUSIP: 17327CAV5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5076960.00   | 0.47%             | N/A             | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co Inc                            | American Electric Power Co Inc                            | CUSIP: 025537AZ4<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2710138.60   | 0.25%             | 2054-12-15      | Variable      | 7.05%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings Inc                       | NextEra Energy Capital Holdings Inc                       | CUSIP: 65339KCB4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1927334.40   | 0.18%             | 2082-03-15      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| Evergy Inc                                                | Evergy Inc                                                | CUSIP: 30034WAE6<br>LEI: 549300PGTHDQY6PSUI61 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1014616.59   | 0.09%             | 2055-06-01      | Variable      | 6.65%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                              | Barclays PLC                                              | CUSIP: 06738ECN3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1800000 | PA      | $2018599.20   | 0.19%             | N/A             | Variable      | 9.63%                 | No            |                  2 | On Loan: No      |
| Citizens Financial Group Inc                              | Citizens Financial Group Inc                              | CUSIP: 174610AU9<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7993855.20   | 0.74%             | N/A             | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                            | BNP Paribas SA                                            | CUSIP: 05565AS20<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   5000000 | PA      | $5361085.00   | 0.50%             | N/A             | Variable      | 9.25%                 | No            |                  2 | On Loan: No      |
| KeyCorp Capital I                                         | KeyCorp Capital I                                         | CUSIP: 49326MAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1464128.19   | 0.14%             | 2028-07-01      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                      | Bank of America Corp                                      | CUSIP: 06055HAB9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  10304000 | PA      | $10399779.80  | 0.97%             | N/A             | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc                                              | Enbridge Inc                                              | CUSIP: 29250NBP9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $2134932.00   | 0.20%             | 2083-01-15      | Variable      | 7.63%                 | No            |                  2 | On Loan: —       |
| Principal Government Money Market Fund - Class R-6        | Principal Government Money Market Fund - Class R-6        | CUSIP: 74257B639<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  32192271 | NS      | $32192270.85  | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc                                       | Dominion Energy Inc                                       | CUSIP: 25746UDM8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1127899.30   | 0.10%             | N/A             | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                        | Canadian Imperial Bank of Commerce                        | CUSIP: 13607P7Y4<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   8800000 | PA      | $8972867.20   | 0.83%             | 2085-10-28      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial Inc                                  | Corebridge Financial Inc                                  | CUSIP: 21871XAP4<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   7100000 | PA      | $7342466.49   | 0.68%             | 2052-12-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp                                          | Duke Energy Corp                                          | CUSIP: 26441CBP9<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4822838.00   | 0.45%             | 2082-01-15      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial Inc                                  | Corebridge Financial Inc                                  | CUSIP: 21871XAT6<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1214668.80   | 0.11%             | 2054-09-15      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co                                          | Wells Fargo & Co                                          | CUSIP: 95002YAA1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   6800000 | PA      | $7262522.40   | 0.68%             | N/A             | Variable      | 7.63%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia/The                                   | Bank of Nova Scotia/The                                   | CUSIP: 0641598V1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   6325000 | PA      | $6739667.00   | 0.63%             | 2084-01-27      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                                       | Dominion Energy Inc                                       | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3585442.00   | 0.33%             | 2055-05-15      | Variable      | 6.63%                 | No            |                  2 | On Loan: No      |
| Prudential Financial Inc                                  | Prudential Financial Inc                                  | CUSIP: 744320BH4<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7390964.00   | 0.69%             | 2050-10-01      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co                                          | Wells Fargo & Co                                          | CUSIP: 95002YAC7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   9705000 | PA      | $10167025.94  | 0.95%             | N/A             | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                        | Banco Bilbao Vizcaya Argentaria SA                        | CUSIP: 05946KAF8<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    600000 | PA      | $597089.04    | 0.06%             | N/A             | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                        | Banco Santander SA                                        | CUSIP: 05971KAH2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |  15400000 | PA      | $15047244.52  | 1.40%             | N/A             | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial Inc                                  | Corebridge Financial Inc                                  | CUSIP: 21871X208<br>LEI: 549300XY1661QCIA7J65 | Long             | EP               | CORP              | US        |    109872 | NS      | $2636928.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                              | UBS Group AG                                              | CUSIP: 902613AG3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   8800000 | PA      | $8653312.80   | 0.81%             | N/A             | Variable      | 3.88%                 | No            |                  2 | On Loan: —       |
| Equitable Holdings Inc                                    | Equitable Holdings Inc                                    | CUSIP: 29452EAD3<br>LEI: 549300FIBAKMNHPZ4009 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1633275.20   | 0.15%             | 2055-03-28      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                       | JPMorgan Chase & Co                                       | CUSIP: 48128AAJ2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6162438.00   | 0.57%             | N/A             | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Allianz SE                                                | Allianz SE                                                | CUSIP: 018820AB6<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |   5000000 | PA      | $4665636.50   | 0.43%             | N/A             | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc                                              | Enbridge Inc                                              | CUSIP: 29250NAN5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   4200000 | PA      | $4211474.40   | 0.39%             | 2077-01-15      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Liberty Mutual Insurance Co                               | Liberty Mutual Insurance Co                               | CUSIP: 53079QAD9<br>LEI: CNC20I6IOMGF7KY49D67 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1232568.46   | 0.11%             | 2097-10-15      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                | US Bancorp                                                | CUSIP: 902973155<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |     11995 | NS      | $243018.70    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Life Insurance Co                                  | Nippon Life Insurance Co                                  | CUSIP: 654579AH4<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |   4600000 | PA      | $4110298.72   | 0.38%             | 2051-01-21      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| Sempra                                                    | Sempra                                                    | CUSIP: 816851BV0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1969688.40   | 0.18%             | 2055-04-01      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                       | JPMorgan Chase & Co                                       | CUSIP: 48128BAN1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  15593000 | PA      | $15371298.73  | 1.43%             | N/A             | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                      | Royal Bank of Canada                                      | CUSIP: 780082AV5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   1300000 | PA      | $1320842.90   | 0.12%             | 2085-08-24      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Sumitomo Life Insurance Co                                | Sumitomo Life Insurance Co                                | CUSIP: 86564CAC4<br>LEI: 549300I5OQCDADQSPI57 | Long             | DBT              | CORP              | JP        |   5000000 | PA      | $4606115.50   | 0.43%             | 2081-04-15      | Variable      | 3.38%                 | No            |                  2 | On Loan: —       |
| NatWest Group PLC                                         | NatWest Group PLC                                         | CUSIP: 780097BQ3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   8000000 | PA      | $8005856.00   | 0.74%             | N/A             | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Voya Financial Inc                                        | Voya Financial Inc                                        | CUSIP: 929089AF7<br>LEI: 549300T065Z4KJ686G75 | Long             | DBT              | CORP              | US        |  10800000 | PA      | $10480516.56  | 0.98%             | 2048-01-23      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                        | Banco Bilbao Vizcaya Argentaria SA                        | CUSIP: 05946KAM3<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   8500000 | PA      | $9395160.50   | 0.87%             | N/A             | Variable      | 9.38%                 | No            |                  2 | On Loan: No      |
| KeyCorp Capital III                                       | KeyCorp Capital III                                       | CUSIP: 49326QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2880639.72   | 0.27%             | 2029-07-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp                                     | Truist Financial Corp                                     | CUSIP: 86788LAA8<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1957037.16   | 0.18%             | 2028-03-15      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                            | BNP Paribas SA                                            | CUSIP: 05602XQQ4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2600000 | PA      | $2653460.71   | 0.25%             | N/A             | Variable      | 7.45%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                              | ING Groep NV                                              | CUSIP: 456837AZ6<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   4400000 | PA      | $3844942.64   | 0.36%             | N/A             | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Public Storage                                            | Public Storage                                            | CUSIP: 74460W644<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |     14106 | NS      | $330221.46    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc                                              | Enbridge Inc                                              | CUSIP: 29250NAW5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |  11000000 | PA      | $11068827.00  | 1.03%             | 2078-03-01      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                              | Barclays PLC                                              | CUSIP: 06738EDC6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1032942.00   | 0.10%             | N/A             | Variable      | 7.63%                 | No            |                  2 | On Loan: No      |
| State Street Corp                                         | State Street Corp                                         | CUSIP: 857477CS0<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   3800000 | PA      | $3864736.80   | 0.36%             | N/A             | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                  | Lloyds Banking Group PLC                                  | CUSIP: 53944YBB8<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    900000 | PA      | $900740.75    | 0.08%             | N/A             | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| MetLife Capital Trust IV                                  | MetLife Capital Trust IV                                  | CUSIP: 591560AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2419733.80   | 0.23%             | 2067-12-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Bank of New York Mellon Corp/The                          | Bank of New York Mellon Corp/The                          | CUSIP: 064058AL4<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |  14600000 | PA      | $14152343.56  | 1.32%             | N/A             | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                        | Banco Bilbao Vizcaya Argentaria SA                        | CUSIP: 05946KAS0<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   9700000 | PA      | $10092171.00  | 0.94%             | N/A             | Variable      | 7.75%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp                                     | Truist Financial Corp                                     | CUSIP: 89832QAF6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1982650.40   | 0.18%             | N/A             | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                            | BNP Paribas SA                                            | CUSIP: 05565ASK0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   7000000 | PA      | $6251994.07   | 0.58%             | N/A             | Variable      | 4.63%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank/The                                 | Toronto-Dominion Bank/The                                 | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  13201000 | PA      | $13902514.34  | 1.29%             | 2082-10-31      | Variable      | 8.13%                 | No            |                  2 | On Loan: No      |
| ACE Capital Trust II                                      | ACE Capital Trust II                                      | CUSIP: 00440FAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2570000 | PA      | $3088428.78   | 0.29%             | 2030-04-01      | Fixed         | 9.70%                 | No            |                  2 | On Loan: No      |
| MetLife Inc                                               | MetLife Inc                                               | CUSIP: 59156RAV0<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   4300000 | PA      | $5748089.50   | 0.53%             | 2069-08-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Affiliated Managers Group Inc                             | Affiliated Managers Group Inc                             | CUSIP: 008252850<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |      1353 | NS      | $29143.62     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Montreal                                          | Bank of Montreal                                          | CUSIP: 06368LQ58<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   7300000 | PA      | $7611279.30   | 0.71%             | 2084-05-26      | Variable      | 7.70%                 | No            |                  2 | On Loan: No      |
| State Street Corp                                         | State Street Corp                                         | CUSIP: 857477CH4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   6900000 | PA      | $7141313.70   | 0.66%             | N/A             | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                              | Barclays PLC                                              | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1200000 | PA      | $1262520.00   | 0.12%             | N/A             | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                        | Credit Agricole SA                                        | CUSIP: 225313AJ4<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   8932000 | PA      | $8997020.94   | 0.84%             | N/A             | Variable      | 8.13%                 | No            |                  2 | On Loan: No      |
| Invesco Preferred ETF                                     | Invesco Preferred ETF                                     | CUSIP: 46138E511<br>LEI: 549300J11Q08WEERN210 | Long             | EC               | RF                | US        |    121647 | NS      | $1391641.68   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                                                   | KeyCorp                                                   | CUSIP: 493267AK4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |   3775000 | PA      | $3731760.40   | 0.35%             | N/A             | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                                    | Standard Chartered PLC                                    | CUSIP: N/A<br>LEI: U4LOSYZ7YG4W3S5F2G91       | Long             | DBT              | CORP              | GB        |  12500000 | PA      | $11531447.50  | 1.07%             | N/A             | Variable      | 4.75%                 | No            |                  2 | On Loan: —       |
| Enbridge Inc                                              | Enbridge Inc                                              | CUSIP: 29250NBT1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   4650000 | PA      | $5260145.10   | 0.49%             | 2084-01-15      | Variable      | 8.50%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                       | Fifth Third Bancorp                                       | CUSIP: 316773DB3<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    500000 | PA      | $498652.35    | 0.05%             | N/A             | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                  | Lloyds Banking Group PLC                                  | CUSIP: 53944YAV5<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   2000000 | PA      | $2148260.00   | 0.20%             | N/A             | Variable      | 8.00%                 | No            |                  2 | On Loan: —       |
| NextEra Energy Capital Holdings Inc                       | NextEra Energy Capital Holdings Inc                       | CUSIP: 65339KCW8<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2773467.00   | 0.26%             | 2054-09-01      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                        | Banco Santander SA                                        | CUSIP: 05971KAQ2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   5000000 | PA      | $5893870.00   | 0.55%             | N/A             | Variable      | 9.63%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc                                              | Enbridge Inc                                              | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   5000000 | PA      | $4993737.00   | 0.46%             | 2080-07-15      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                            | BNP Paribas SA                                            | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | DBT              | CORP              | FR        |   1400000 | PA      | $1500909.20   | 0.14%             | N/A             | Variable      | 9.25%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co                                          | Wells Fargo & Co                                          | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  11050000 | PA      | $10943725.52  | 1.02%             | N/A             | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | CUSIP: 62582PAA8<br>LEI: 529900MUF4C20K50JS49 | Long             | DBT              | CORP              | DE        |   3600000 | PA      | $3722171.00   | 0.35%             | 2042-05-23      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia/The                                   | Bank of Nova Scotia/The                                   | CUSIP: 0641598S8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   3300000 | PA      | $3495082.80   | 0.33%             | 2082-10-27      | Variable      | 8.63%                 | No            |                  2 | On Loan: No      |
| Dairy Farmers of America Inc                              | Dairy Farmers of America Inc                              | CUSIP: 23385HAA7<br>LEI: 1LTUIZEFFT7MUIERI838 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6790000.00   | 0.63%             | N/A             | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Huntington Bancshares Inc/OH                              | Huntington Bancshares Inc/OH                              | CUSIP: 446150AV6<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |  19200000 | PA      | $18918600.96  | 1.76%             | N/A             | Variable      | 4.45%                 | No            |                  2 | On Loan: No      |
| Electricite de France SA                                  | Electricite de France SA                                  | CUSIP: 28504KAA5<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |   2000000 | PA      | $2305034.00   | 0.21%             | N/A             | Variable      | 9.13%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-29

**Name of Applicant:** Principal Funds, Inc

**Signature:** Megan Hoffmann

**Name of Signer:** /s/ Megan Hoffmann

**Title:** Vice President and Controller