# EDGAR Filing Document

**Accession Number:** 0000898745
**File Stem:** 0001752724-23-064765
**Filing Date:** 2023-3
**Character Count:** 36989
**Document Hash:** 3ceffbee869e6b1ab15a266cb670dabb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-064765.hdr.sgml**: 20230324

**ACCESSION NUMBER**: 0001752724-23-064765

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230324

**DATE AS OF CHANGE**: 20230324

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRINCIPAL FUNDS, INC.
- **CENTRAL INDEX KEY:** 0000898745
- **IRS NUMBER:** 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:** 23757921

**BUSINESS ADDRESS:**
- **STREET 1:** 711 HIGH STREET
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50392
- **BUSINESS PHONE:** 515-235-1209

**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

### Real Estate Securities Fund (Series ID: S000007212)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019785 | R-1                 | PRAEX           |
| C000019787 | R-3                 | PRERX           |
| C000019788 | R-5                 | PREPX           |
| C000019789 | R-4                 | PRETX           |
| C000019790 | Institutional Class | PIREX           |
| C000019791 | Class J             | PREJX           |
| C000019792 | Class A             | PRRAX           |
| C000038802 | Class C             | PRCEX           |
| C000175486 | R-6                 | PFRSX           |

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## 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:** Real Estate Securities Fund

- **b. EDGAR series identifier (if any):** S000007212

- **c. LEI of Series:** 5493007VCVKAGWPVUY18

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $5900748418.64

**Total Liabilities:** $10190597.44

**Net Assets:** $5890557821.20

**Cash Not Reported:** $284612.04

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000019789 | 5.17%                | -4.99%               | 10.55%               |
| Class ID C000019790 | 5.19%                | -4.98%               | 10.58%               |
| Class ID C000019788 | 5.20%                | -5.00%               | 10.57%               |
| Class ID C000019785 | 5.14%                | -5.04%               | 10.48%               |
| Class ID C000019787 | 5.18%                | -5.03%               | 10.53%               |
| Class ID C000038802 | 5.10%                | -5.04%               | 10.47%               |
| Class ID C000175486 | 5.19%                | -4.96%               | 10.59%               |
| Class ID C000019792 | 5.19%                | -5.01%               | 10.55%               |
| Class ID C000019791 | 5.17%                | -4.96%               | 10.51%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-75805359.32            | $349144865.26                              |
| Month 2  | $-18794511.58            | $-299290792.88                             |
| Month 3  | $978017.12               | $562550774.80                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Apple Hospitality REIT Inc                         | Apple Hospitality REIT Inc                         | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |   2940804 | NS      | $52140454.92  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc                           | Essex Property Trust Inc                           | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |    961732 | NS      | $217418753.24 | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc                        | Healthcare Realty Trust Inc                        | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |   3290064 | NS      | $70835077.92  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| DiamondRock Hospitality Co                         | DiamondRock Hospitality Co                         | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               | CORP              | US        |   4460787 | NS      | $42957378.81  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease Inc                           | Broadstone Net Lease Inc                           | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |   4577361 | NS      | $82896007.71  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc                             | Cousins Properties Inc                             | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |   2711326 | NS      | $74344558.92  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Terreno Realty Corp                                | Terreno Realty Corp                                | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1720626 | NS      | $110859933.18 | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                                         | Ventas Inc                                         | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |   5697962 | NS      | $295211411.22 | 5.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Properties Inc                              | Boston Properties Inc                              | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |     39659 | NS      | $2956181.86   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities Inc                | Alexandria Real Estate Equities Inc                | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |   1357925 | NS      | $218272864.50 | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Saul Centers Inc                                   | Saul Centers Inc                                   | CUSIP: 804395101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    465312 | NS      | $19920006.72  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                     | Public Storage                                     | CUSIP: 74460D109<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EC               | CORP              | US        |    415818 | NS      | $126550050.12 | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                              | American Homes 4 Rent                              | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |   5797859 | NS      | $198808585.11 | 3.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                               | Invitation Homes Inc                               | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   6347176 | NS      | $206283220.00 | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                                 | Equity Residential                                 | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |    769261 | NS      | $48963462.65  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                                | American Tower Corp                                | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |   1037911 | NS      | $231858938.29 | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Regency Centers Corp                               | Regency Centers Corp                               | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |   2525969 | NS      | $168305314.47 | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                                        | Equinix Inc                                        | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |    282699 | NS      | $208668612.87 | 3.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                                | Sun Communities Inc                                | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |   1573950 | NS      | $246889797.00 | 4.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Medical Properties Trust Inc                       | Medical Properties Trust Inc                       | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               | CORP              | US        |   5678402 | NS      | $73535305.90  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities Inc                          | AvalonBay Communities Inc                          | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |   1602606 | NS      | $284366408.64 | 4.83%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                                          | CubeSmart                                          | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3279385 | NS      | $150163039.15 | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                                | VICI Properties Inc                                | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |   8100747 | NS      | $276883532.46 | 4.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Apartment Income REIT Corp                         | Apartment Income REIT Corp                         | CUSIP: 03750L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2812924 | NS      | $107622472.24 | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp                                 | Kilroy Realty Corp                                 | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |   2071593 | NS      | $85018176.72  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                      | Rexford Industrial Realty Inc                      | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |   3492546 | NS      | $221671894.62 | 3.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                                  | Agree Realty Corp                                  | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1034761 | NS      | $77224213.43  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                           | Simon Property Group Inc                           | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |    657464 | NS      | $84457825.44  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| 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        |  81524193 | NS      | $81524192.92  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties Inc                  | Gaming and Leisure Properties Inc                  | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |   2203508 | NS      | $118019888.48 | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                                      | Welltower Inc                                      | CUSIP: 95040Q104<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | EC               | CORP              | US        |   3364060 | NS      | $252439062.40 | 4.29%             |  |  |  | No            |                  1 | On Loan: No      |
| InvenTrust Properties Corp                         | InvenTrust Properties Corp                         | CUSIP: 46124J201<br>LEI: 5493006BQYSOBYVUFA03 | Long             | EC               | CORP              | US        |   1160483 | NS      | $28861212.21  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc                            | Extra Space Storage Inc                            | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1590898 | NS      | $251091431.34 | 4.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc                    | Equity LifeStyle Properties Inc                    | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |   2590480 | NS      | $185944654.40 | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc                         | Sabra Health Care REIT Inc                         | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |   5166674 | NS      | $69750099.00  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc                           | Digital Realty Trust Inc                           | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |   1897977 | NS      | $217546123.74 | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                       | Prologis Inc                                       | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |   3373654 | NS      | $436145989.12 | 7.40%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust Inc                  | First Industrial Realty Trust Inc                  | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2811016 | NS      | $149967703.60 | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott Vacations Worldwide Corp                  | Marriott Vacations Worldwide Corp                  | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Long             | EC               | CORP              | US        |    469308 | NS      | $75108052.32  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp                                     | NETSTREIT Corp                                     | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |   1893924 | NS      | $38124690.12  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-28

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

**Signature:** Megan Hoffmann

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

**Title:** Vice President and Controller