# EDGAR Filing Document

**Accession Number:** 0000898745
**File Stem:** 0000898745-25-000684
**Filing Date:** 2025-12
**Character Count:** 13883
**Document Hash:** 9fdc6f7730e80a69993e3bc49667e8e0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000898745-25-000684.hdr.sgml**: 20251215

**ACCESSION NUMBER**: 0000898745-25-000684

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251215

**DATE AS OF CHANGE**: 20251215

**EFFECTIVENESS DATE**: 20251215

**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:** 251570525

**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

### Spectrum Preferred and Capital Securities Income Fund (f/k/a Preferred Securities) (Series ID: S000007170)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PNARX         | C000019591 |
| R-5                 | PPARX         | C000019592 |
| Institutional Class | PPSIX         | C000019595 |
| Class J             | PPSJX         | C000019596 |
| Class A             | PPSAX         | C000019597 |
| Class C             | PRFCX         | C000038790 |
| R-6                 | PPREX         | C000176328 |

---

### Bond Market Index Fund (Series ID: S000027178)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PNIIX         | C000082026 |
| R-3                 | PBOIX         | C000082029 |
| R-5                 | PBIQX         | C000082031 |
| Class J             | PBIJX         | C000085837 |

---

### International Equity Index Fund (Series ID: S000027179)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PIIOX         | C000082032 |
| R-5                 | PIIQX         | C000082034 |
| Institutional Class | PIDIX         | C000082035 |
| R-6                 | PFIEX         | C000176329 |

---

### Diversified Real Asset Fund (Series ID: S000028139)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | PRDAX         | C000085834 |
| Institutional Class | PDRDX         | C000085836 |
| R-6                 | PDARX         | C000150253 |
| R-3                 | PGDRX         | C000167692 |

---

### Small-MidCap Dividend Income Fund (Series ID: S000032942)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | PMDAX         | C000101659 |
| Institutional Class | PMDIX         | C000101661 |
| Class C             | PMDDX         | C000115416 |
| R-6                 | PMDHX         | C000176330 |

---

### Global Multi-Strategy Fund (Series ID: S000033960)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | PMSAX         | C000104712 |
| Institutional Class | PSMIX         | C000104714 |
| R-6                 | PGLSX         | C000190071 |

---

### Blue Chip Fund (Series ID: S000037378)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PBCKX         | C000115413 |
| Class A             | PBLAX         | C000131723 |
| Class C             | PBLCX         | C000131724 |
| R-3                 | PGBEX         | C000167694 |
| R-5                 | PGBGX         | C000167696 |
| R-6                 | PGBHX         | C000176331 |
| Class J             | PBCJX         | C000193661 |

---

### Opportunistic Municipal Fund (Series ID: S000037379)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | PMOAX         | C000115414 |
| Institutional Class | POMFX         | C000153266 |

---

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

---

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

---

### International Small Company Fund (Series ID: S000045671)

---

|  |  |  |
|:---|:---|:---|
| Class Name    | Ticker Symbol | Class ID   |
| Institutional | PISMX         | C000150254 |
| R-6           | PFISX         | C000176332 |

---

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

---

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

---

### Global Macro Fund (Series ID: S000093270)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| R-6        | PAFIX         | C000261435 |

---

## Series and Classes Contracts Data

### Spectrum Preferred and Capital Securities Income Fund (f/k/a Preferred Securities) (Series ID: S000007170)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019591 | R-3                 | PNARX           |
| C000019592 | R-5                 | PPARX           |
| C000019595 | Institutional Class | PPSIX           |
| C000019596 | Class J             | PPSJX           |
| C000019597 | Class A             | PPSAX           |
| C000038790 | Class C             | PRFCX           |
| C000176328 | R-6                 | PPREX           |

### Bond Market Index Fund (Series ID: S000027178)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000082026 | Institutional Class | PNIIX           |
| C000082029 | R-3                 | PBOIX           |
| C000082031 | R-5                 | PBIQX           |
| C000085837 | Class J             | PBIJX           |

### International Equity Index Fund (Series ID: S000027179)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000082032 | R-3                 | PIIOX           |
| C000082034 | R-5                 | PIIQX           |
| C000082035 | Institutional Class | PIDIX           |
| C000176329 | R-6                 | PFIEX           |

### Diversified Real Asset Fund (Series ID: S000028139)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000085834 | Class A             | PRDAX           |
| C000085836 | Institutional Class | PDRDX           |
| C000150253 | R-6                 | PDARX           |
| C000167692 | R-3                 | PGDRX           |

### Small-MidCap Dividend Income Fund (Series ID: S000032942)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000101659 | Class A             | PMDAX           |
| C000101661 | Institutional Class | PMDIX           |
| C000115416 | Class C             | PMDDX           |
| C000176330 | R-6                 | PMDHX           |

### Global Multi-Strategy Fund (Series ID: S000033960)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000104712 | Class A             | PMSAX           |
| C000104714 | Institutional Class | PSMIX           |
| C000190071 | R-6                 | PGLSX           |

### Blue Chip Fund (Series ID: S000037378)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000115413 | Institutional Class | PBCKX           |
| C000131723 | Class A             | PBLAX           |
| C000131724 | Class C             | PBLCX           |
| C000167694 | R-3                 | PGBEX           |
| C000167696 | R-5                 | PGBGX           |
| C000176331 | R-6                 | PGBHX           |
| C000193661 | Class J             | PBCJX           |

### Opportunistic Municipal Fund (Series ID: S000037379)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000115414 | Class A             | PMOAX           |
| C000153266 | Institutional Class | POMFX           |

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

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

### International Small Company Fund (Series ID: S000045671)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000150254 | Institutional | PISMX           |
| C000176332 | R-6           | PFISX           |

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

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

### Global Macro Fund (Series ID: S000093270)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000261435 | R-6          | PAFIX           |

**Principal Funds, Inc.**

**Supplement dated December 15, 2025**

**to the Prospectus dated December 31, 2024**

**and the Statement of Additional Information dated December 31, 2024,** 

**as amended and restated June 20, 2025** 

**(each as previously supplemented)**

This supplement updates information contained in the Prospectus and Statement of Additional Information. Please retain this supplement for future reference.

The changes described below are being made to the Prospectus.

**SUMMARY FOR DIVERSIFIED REAL ASSET FUND**

**SHARE CLASS LIQUIDATION NOTICE:** On December 9, 2025, the Fund's Board of Directors approved the liquidation of the Fund's Class R-3 shares. Following the close of business on or about March 27, 2026, outstanding Class R-3 shares of the Fund will be redeemed at net asset value on such date, and proceeds will be sent to shareholders of record. The Fund expects that the liquidation and redemption of Class R-3 shares will result in a capital gain or loss to the taxable shareholders in the same manner as a voluntary redemption. Taxable shareholders should consult their tax advisors regarding the tax treatment of the liquidation and redemption, as well as any voluntary redemption or exchange, prior to the liquidation date.

*On or about March 27, 2026, delete references to Class R-3 shares of this Fund from the Prospectus.*

*On or about January 15, 2026, delete* BlackRock Financial Management, Inc. *from the* **Sub-Advisors** *section and* BlackRock International Limited *from the* **Sub-Sub-Advisor** *section.*

**SUMMARY FOR GLOBAL MULTI-STRATEGY FUND**

*On or about January 15, 2026, delete* Wellington Management Company LLP *from the* **Sub-Advisors** *section.*

**MANAGEMENT OF THE FUNDS**

*On or about January 15, 2026, under* **The Sub-Advisors** *section, delete* "and a portion of Global Multi-Strategy (primarily the equity long/short strategy; however, Wellington may use any of the Fund's investment strategies)" *from the* ***Fund(s)*** *section of* Wellington Management Company LLP.

*On or about January 15, 2026, under* **The Sub-Advisors** *section, delete all references to* BlackRock Financial Management, Inc. *and* BlackRock International Limited*.*

------

The changes described below are being made to the Statement of Additional Information.

*On December 9, 2025, the Principal Funds, Inc. Board of Directors approved the liquidation of the Class R-3 shares of the Diversified Real Asset Fund. Following the close of business on or about March 27, 2026, delete references to Class R-3 shares from the Statement of Additional Information for the Diversified Real Asset Fund.*

**LEADERSHIP STRUCTURE AND BOARD**

*In the* **Committee** *table, delete the members of the 15(c), Audit, Nominating and Governance, and Operations Committees and replace with the following:*

---

| |
|:---|
| **Committee Members** |
| <u>15(c) Committee</u> |
| Padelford L. Lattimer, Chair<br>Katharin S. Dyer<br>Karen McMillan |
| <u>Audit Committee</u>  |
| Frances P. Grieb, Chair<br>Craig Damos<br>Victor L. Hymes<br>Sharmila C. Kassam |
| <u>Nominating and Governance Committee</u> |
| Victor L. Hymes, Chair<br>Craig Damos<br>Frances P. Grieb<br>Thomas A. Swank |
| <u>Operations Committee</u>  |
| Thomas A. Swank, Chair<br>Katharin S. Dyer<br>Padelford L. Lattimer |

---

*Under* **Additional Information Regarding Board Members and Officers**, *in the* **PRINCIPAL FUNDS OFFICERS** *table, delete the row for Mandy L. Huebbe.*

*Under the* **Board Member and Officer Compensation** *section, delete the first paragraph and replace with the following:*

The Principal Funds do not pay any remuneration to officers or to any Board Members listed above as Interested Board Members. The Board annually considers a proposal to reimburse PGI for certain expenses, including a portion of the compensation of the Chief Compliance Officer ("CCO"). If the proposal is adopted, these amounts are allocated across all Funds and the other PGI-sponsored registered investment companies for which the CCO serves as the Chief Compliance Officer.

**INVESTMENT ADVISORY AND OTHER SERVICES**

*On or about January 15, 2026, delete all references to* BlackRock Financial Management, Inc. *and* BlackRock International Limited.

*On or about January 15, 2026, under the* **Sub-Advisors** *section, delete the row for* **Sub-Advisor: Wellington Management Company LLP.** *and replace with the following:* 

---

| | |
|:---|:---|
| **Sub-Advisor:** | **Wellington Management Company LLP ("Wellington")** is owned by the partners of Wellington Management Group LLP, a Massachusetts limited liability partnership. |
| **Fund(s):** | a portion of the assets of Diversified Real Asset |

---