# EDGAR Filing Document

**Accession Number:** 0000012601
**File Stem:** 0001752724-23-037041
**Filing Date:** 2023-2
**Character Count:** 17845
**Document Hash:** d2647eb9237b0668af9395042cb394e5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-037041.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001752724-23-037041

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRINCIPAL VARIABLE CONTRACTS FUNDS INC
- **CENTRAL INDEX KEY:** 0000012601
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01944
- **FILM NUMBER:** 23659106

**BUSINESS ADDRESS:**
- **STREET 1:** 711 HIGH STREET
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50392
- **BUSINESS PHONE:** 515-247-5477

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL VARIABLE CONTRACTS FUND INC
- **DATE OF NAME CHANGE:** 19980617

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL CAPITAL ACCUMULATION FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCOR INVESTMENT FUND INC
- **DATE OF NAME CHANGE:** 19880906

## Series and Classes Contracts Data

### Real Estate Securities Account (Series ID: S000007673)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000020921 | Real Estate Securities Account Class 1 |  |
| C000038552 | Real Estate Securities Account Class 2 |  |

## 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 Variable Contract Funds, Inc

- **b. Investment Company Act file number:** 811-01944

- **c. CIK number of Registrant:** 0000012601

- **d. LEI of Registrant:** ICS43THKTGQL3EQ10426

- **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 Account

- **b. EDGAR series identifier (if any):** S000007673

- **c. LEI of Series:** 549300YDCD4YXBV6EM04

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $134470368.34

**Total Liabilities:** $193534.92

**Net Assets:** $134276833.42

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000020921 | 2.35%                | 5.24%                | -4.98%               |
| Class ID C000038552 | 2.35%                | 5.17%                | -4.97%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1579726.65              | $1494896.61                                |
| Month 2  | $295694.74               | $6573368.42                                |
| Month 3  | $-334562.87              | $-7563221.82                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| American Tower Corp                                | American Tower Corp                                | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     26682 | NS      | $5652848.52   | 4.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc                            | Extra Space Storage Inc                            | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35205 | NS      | $5181471.90   | 3.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Terreno Realty Corp                                | Terreno Realty Corp                                | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48528 | NS      | $2759787.36   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| DiamondRock Hospitality Co                         | DiamondRock Hospitality Co                         | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               | CORP              | US        |     99385 | NS      | $813963.15    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                               | Invitation Homes Inc                               | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    158870 | NS      | $4708906.80   | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Saul Centers Inc                                   | Saul Centers Inc                                   | CUSIP: 804395101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15727 | NS      | $639774.36    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                     | Public Storage                                     | CUSIP: 74460D109<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EC               | CORP              | US        |     10590 | NS      | $2967212.10   | 2.21%             |  |  |  | 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        |   1324713 | NS      | $1324712.56   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Medical Properties Trust Inc                       | Medical Properties Trust Inc                       | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               | CORP              | US        |    144057 | NS      | $1604794.98   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp                                     | NETSTREIT Corp                                     | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |     47420 | NS      | $869208.60    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott Vacations Worldwide Corp                  | Marriott Vacations Worldwide Corp                  | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Long             | EC               | CORP              | US        |     11595 | NS      | $1560571.05   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| InvenTrust Properties Corp                         | InvenTrust Properties Corp                         | CUSIP: 46124J201<br>LEI: 5493006BQYSOBYVUFA03 | Long             | EC               | CORP              | US        |     28000 | NS      | $662760.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                                 | Equity Residential                                 | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |     19015 | NS      | $1121885.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Regency Centers Corp                               | Regency Centers Corp                               | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |     60266 | NS      | $3766625.00   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                                          | CubeSmart                                          | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     96875 | NS      | $3899218.75   | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                                | Sun Communities Inc                                | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |     39066 | NS      | $5586438.00   | 4.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc                             | Cousins Properties Inc                             | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |     73974 | NS      | $1870802.46   | 1.39%             |  |  |  | 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        |     69139 | NS      | $3336648.14   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc                           | Essex Property Trust Inc                           | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |     23919 | NS      | $5068914.48   | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                                      | Welltower Inc                                      | CUSIP: 95040Q104<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | EC               | CORP              | US        |     83947 | NS      | $5502725.85   | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                                | VICI Properties Inc                                | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |    208286 | NS      | $6748466.40   | 5.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                       | Prologis Inc                                       | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     84852 | NS      | $9565365.96   | 7.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease Inc                           | Broadstone Net Lease Inc                           | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |    109603 | NS      | $1776664.63   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp                                 | Kilroy Realty Corp                                 | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     53267 | NS      | $2059834.89   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc                        | Healthcare Realty Trust Inc                        | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |     81845 | NS      | $1577153.15   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                                  | Agree Realty Corp                                  | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26532 | NS      | $1881914.76   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Apartment Income REIT Corp                         | Apartment Income REIT Corp                         | CUSIP: 03750L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70046 | NS      | $2403278.26   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                      | Rexford Industrial Realty Inc                      | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |     87133 | NS      | $4760947.12   | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties Inc                  | Gaming and Leisure Properties Inc                  | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     41087 | NS      | $2140221.83   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                              | American Homes 4 Rent                              | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |    148354 | NS      | $4471389.56   | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                                        | Equinix Inc                                        | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      8707 | NS      | $5703346.21   | 4.25%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities Inc                          | AvalonBay Communities Inc                          | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |     39854 | NS      | $6437218.08   | 4.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                           | Simon Property Group Inc                           | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     15756 | NS      | $1851014.88   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc                    | Equity LifeStyle Properties Inc                    | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     64513 | NS      | $4167539.80   | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                                         | Ventas Inc                                         | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |    142897 | NS      | $6437509.85   | 4.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities Inc                | Alexandria Real Estate Equities Inc                | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |     36269 | NS      | $5283305.23   | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT Inc                         | Apple Hospitality REIT Inc                         | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |     77418 | NS      | $1221656.04   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc                           | Digital Realty Trust Inc                           | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     46606 | NS      | $4673183.62   | 3.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc                         | Sabra Health Care REIT Inc                         | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |    131359 | NS      | $1632792.37   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

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

**Signature:** Megan Hoffmann

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

**Title:** Vice President and Controller