# EDGAR Filing Document

**Accession Number:** 0000012601
**File Stem:** 0001752724-23-037051
**Filing Date:** 2023-2
**Character Count:** 26321
**Document Hash:** f84720d58d9e9df245bf0586517c360c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-037051.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001752724-23-037051

**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:** 23659117

**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

### Equity Income Account (Series ID: S000014083)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000038528 | Equity Income Account Class 1 |  |
| C000038529 | Equity Income Account Class 2 |  |
| C000223413 | Equity Income Account Class 3 |  |

## 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:** Equity Income Account

- **b. EDGAR series identifier (if any):** S000014083

- **c. LEI of Series:** 54930095K9Z8PBKMWU68

**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:** $693551930.41

**Total Liabilities:** $10735703.97

**Net Assets:** $682816226.44

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000038529 | 8.80%                | 7.34%                | -4.24%               |
| Class ID C000038528 | 8.77%                | 7.40%                | -4.22%               |
| Class ID C000223413 | 8.75%                | 7.35%                | -4.26%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2830679.17              | $50303614.59                               |
| Month 2  | $315385.91               | $47915043.21                               |
| Month 3  | $699253.69               | $-33234324.48                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Magna International Inc                            | Magna International Inc                            | CUSIP: 559222401<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | CA        |    285410 | NS      | $16034333.80  | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Expeditors International of Washington Inc         | Expeditors International of Washington Inc         | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |     75148 | NS      | $7809380.16   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                                | JPMorgan Chase & Co                                | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    125321 | NS      | $16805546.10  | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                                          | Apple Inc                                          | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     73341 | NS      | $9529196.13   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                                         | Deere & Co                                         | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |     42208 | NS      | $18097102.08  | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                     | Morgan Stanley                                     | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |    208049 | NS      | $17688325.98  | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The                                   | Coca-Cola Co/The                                   | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    186726 | NS      | $11877640.86  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                             | UnitedHealth Group Inc                             | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     13102 | NS      | $6946418.36   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                                    | Xcel Energy Inc                                    | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |    125089 | NS      | $8769989.79   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                                   | Roche Holding AG                                   | CUSIP: 771195104<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |    352045 | NS      | $13782561.75  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information Services Inc         | Fidelity National Information Services Inc         | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |     81750 | NS      | $5546737.50   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc                                  | EOG Resources Inc                                  | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |    108149 | NS      | $14007458.48  | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity FedFund - Institutional Class  | BlackRock Liquidity FedFund - Institutional Class  | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |   5136218 | NS      | $5136217.55   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson and Co                            | Becton Dickinson and Co                            | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |     60492 | NS      | $15383115.60  | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd          | Taiwan Semiconductor Manufacturing Co Ltd          | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    127737 | NS      | $9515129.13   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc                           | Microchip Technology Inc                           | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |    192110 | NS      | $13495727.50  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                                           | NIKE Inc                                           | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     39609 | NS      | $4634649.09   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| BCE Inc                                            | BCE Inc                                            | CUSIP: 05534B760<br>LEI: 5493001I9203PRB5KR45 | Long             | EC               | CORP              | CA        |    358651 | NS      | $15762711.45  | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp                                        | Target Corp                                        | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     28386 | NS      | $4230649.44   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp                                 | Union Pacific Corp                                 | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     16067 | NS      | $3326993.69   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc                         | Verizon Communications Inc                         | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    399332 | NS      | $15733680.80  | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                                        | Corteva Inc                                        | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |    208416 | NS      | $12250692.48  | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Inc                                      | BlackRock Inc                                      | CUSIP: 09247X101<br>LEI: 549300LRIF3NWCU26A80 | Long             | EC               | CORP              | US        |     22796 | NS      | $16153929.48  | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp - Class A                             | Comcast Corp - Class A                             | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    467513 | NS      | $16348929.61  | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp                                     | Starbucks Corp                                     | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |     78474 | NS      | $7784620.80   | 1.14%             |  |  |  | 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        |  18363139 | NS      | $18363139.00  | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG Industries Inc                                 | PPG Industries Inc                                 | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |     38063 | NS      | $4786041.62   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group Inc                               | WEC Energy Group Inc                               | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |     96609 | NS      | $9058059.84   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| First Republic Bank/CA                             | First Republic Bank/CA                             | CUSIP: 33616C100<br>LEI: YWC0TIKBQM2JV8L4IV08 | Long             | EC               | CORP              | US        |     71683 | NS      | $8737440.87   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc                                        | Cummins Inc                                        | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |     23923 | NS      | $5796303.67   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc/The               | PNC Financial Services Group Inc/The               | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |     85337 | NS      | $13478125.78  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                                     | Eli Lilly & Co                                     | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      1967 | NS      | $719607.28    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Hormel Foods Corp                                  | Hormel Foods Corp                                  | CUSIP: 440452100<br>LEI: MSD54751OJP1FS2ND863 | Long             | EC               | CORP              | US        |    313881 | NS      | $14297279.55  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                             | SAP SE                                             | CUSIP: 803054204<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |     99011 | NS      | $10216945.09  | 1.50%             |  |  |  | No            |                  1 | On Loan: —       |
| Cable One Inc                                      | Cable One Inc                                      | CUSIP: 12685J105<br>LEI: 549300648QS85T0XSH18 | Long             | EC               | CORP              | US        |      6187 | NS      | $4404277.82   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| DR Horton Inc                                      | DR Horton Inc                                      | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |    107729 | NS      | $9602963.06   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| STERIS PLC                                         | STERIS PLC                                         | CUSIP: G8473T100<br>LEI: 549300F1857N5E6G6T48 | Long             | EC               | CORP              | US        |     40347 | NS      | $7451687.43   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Discover Financial Services                        | Discover Financial Services                        | CUSIP: 254709108<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | EC               | CORP              | US        |     94365 | NS      | $9231727.95   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                                 | NextEra Energy Inc                                 | CUSIP: 65339F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    152884 | NS      | $12781102.40  | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                                         | Pfizer Inc                                         | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    207598 | NS      | $10637321.52  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                     | Microsoft Corp                                     | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     35610 | NS      | $8539990.20   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp                                 | Realty Income Corp                                 | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |    111635 | NS      | $7081008.05   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                      | Medtronic PLC                                      | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |    144540 | NS      | $11233648.80  | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods Inc                                    | Tyson Foods Inc                                    | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |     82978 | NS      | $5165380.50   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                                       | Chevron Corp                                       | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     63468 | NS      | $11391871.32  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities Inc                | Alexandria Real Estate Equities Inc                | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |     79783 | NS      | $11621989.61  | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                                | Abbott Laboratories                                | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |    129766 | NS      | $14247009.14  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products and Chemicals Inc                     | Air Products and Chemicals Inc                     | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |     39334 | NS      | $12125098.84  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                        | Novartis AG                                        | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |    160813 | NS      | $14588955.36  | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy                                  | Eversource Energy                                  | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |     44149 | NS      | $3701452.16   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc                           | Digital Realty Trust Inc                           | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     85859 | NS      | $8609081.93   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                                     | Merck & Co Inc                                     | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    168388 | NS      | $18682648.60  | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC                             | Trane Technologies PLC                             | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |     65547 | NS      | $11017795.23  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co Inc                                       | KKR & Co Inc                                       | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |    259991 | NS      | $12068782.22  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Partners LP                    | Enterprise Products Partners LP                    | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |    548561 | NS      | $13231291.32  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Financial Inc                    | Fidelity National Financial Inc                    | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |    276193 | NS      | $10390380.66  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra Energy                                      | Sempra Energy                                      | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |     28728 | NS      | $4439625.12   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR Inc                                         | PACCAR Inc                                         | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |    170391 | NS      | $16863597.27  | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp                              | Costco Wholesale Corp                              | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     26534 | NS      | $12112771.00  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp                               | Parker-Hannifin Corp                               | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |     57624 | NS      | $16768584.00  | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                                          | Chubb Ltd                                          | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |     66572 | NS      | $14685783.20  | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp                               | Bank of America Corp                               | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    351587 | NS      | $11644561.44  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp                            | Marathon Petroleum Corp                            | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |    133914 | NS      | $15586250.46  | 2.28%             |  |  |  | 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