# EDGAR Filing Document

**Accession Number:** 0000898745
**File Stem:** 0000898745-25-000385
**Filing Date:** 2025-9
**Character Count:** 4765
**Document Hash:** a1d8b0600fe29ef2f7f956366baae963
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000898745-25-000385.hdr.sgml**: 20250915

**ACCESSION NUMBER**: 0000898745-25-000385

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 17

**FILED AS OF DATE**: 20250915

**DATE AS OF CHANGE**: 20250915

**EFFECTIVENESS DATE**: 20250915

**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:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-59474
- **FILM NUMBER:** 251313773

**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

### Global Listed Infrastructure Fund (formerly, Global Sustainable Listed Infrastructure Fund) (Series ID: S000077513)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PGSLX         | C000237990 |

---

## Series and Classes Contracts Data

### Global Listed Infrastructure Fund (formerly, Global Sustainable Listed Infrastructure Fund) (Series ID: S000077513)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000237990 | Institutional Class | PGSLX           |

?xml version='1.0' encoding='ASCII'? ck0000898745-20250915

**Principal Funds, Inc.**

**Supplement dated September 15, 2025**

**to the Prospectus dated June 20, 2025**

This supplement updates information contained in the Prospectus. Please retain this supplement for future reference.

**SUMMARY FOR GLOBAL LISTED INFRASTRUCTURE FUND**

*In recognition of the fact that the Global Listed Infrastructure Fund (the "Fund") has been managed as a diversified fund pursuant to Section 5(b) of the Investment Company Act of 1940, as amended, since September 2022, effective September 23, 2025, the Fund has determined to continue to be managed as a diversified fund by operation of law. The changes set forth below are being made to the Prospectus.*

*Under* **Principal Investment Strategies***, delete the first sentence in the third paragraph that states, "*The Fund is considered non-diversified, which means it can invest a higher percentage of assets in securities of individual issuers than a diversified fund." *in its entirety.*

*Under* **Principal Risks***, delete* **Non-Diversification Risk**.

**PURCHASE OF FUND SHARES**

*Under the* **Eligible Purchasers - Institutional Class and Class R-6 Shares** *section, add the following row to the bottom of the eligible purchasers table:*

---

| | | |
|:---|:---|:---|
| **Eligible purchasers currently include, but are not limited to:** | **Inst.** | **R-6** |
| ReFlow Fund, LLC in connection with the ReFlow Liquidity Program | X | X |

---

**REDEMPTION OF FUND SHARES**

*Under the* **Distributions in Kind** *section, delete the first paragraph and replace with the following:*

Payment for shares of the Funds tendered for redemption is ordinarily made by check. However, the Funds may determine that it would be detrimental to the remaining shareholders of a Fund to make payment of a redemption order wholly or partly in cash. Under certain circumstances, therefore, each of the Funds may pay the redemption proceeds in whole or in part by a distribution of "in kind" securities from the Fund's portfolio in lieu of cash. If a Fund pays the redemption proceeds in kind, the redeeming shareholder might incur brokerage or other costs in selling the securities for cash. In addition, the securities received will be subject to market risk until sold. Typically, such in kind redemptions made to an affiliated person would be distributed pro rata. Each Fund will value securities used to pay redemptions in kind using the same method the Registrant uses to value its portfolio securities as described in this Prospectus. The Funds may also use redemption in kind for certain Fund shares held by ReFlow.

**FREQUENT PURCHASES AND REDEMPTIONS**

*Add the following sentence to the end of the fifth paragraph:*

Purchases and redemptions of Fund shares by ReFlow under the program are generally not considered excessive short-term trading under the Funds' Excessive Trading Policy.