# EDGAR Filing Document

**Accession Number:** 0001557523
**File Stem:** 0001049169-25-001142
**Filing Date:** 2025-12
**Character Count:** 48421
**Document Hash:** 01ef58a1031c3370e4896f0e104168a7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001049169-25-001142.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0001049169-25-001142

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Principal Real Estate Income Fund
- **CENTRAL INDEX KEY:** 0001557523

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22742
- **FILM NUMBER:** 251608668

**BUSINESS ADDRESS:**
- **STREET 1:** 1290 BROADWAY
- **STREET 2:** SUITE 1100
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80203
- **BUSINESS PHONE:** 303-623-2577

**MAIL ADDRESS:**
- **STREET 1:** 1290 BROADWAY
- **STREET 2:** SUITE 1100
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Principal Commercial Mortgage Backed Securities Income Fund
- **DATE OF NAME CHANGE:** 20120907

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Principal Commercial Mortgage Backed Securities Fund
- **DATE OF NAME CHANGE:** 20120905

## 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 REAL ESTATE INCOME FUND

- **b. Investment Company Act file number:** 811-22742

- **c. CIK number of Registrant:** 0001557523

- **d. LEI of Registrant:** 549300HK3LIJEGLGMK36

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1290 BROADWAY SUITE 1000

  - **City:** DENVER

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80203

  - **Telephone number:** 3036232577

**Item A.2. Information about the Series.**

- **a. Name of Series:** Principal Real Estate Income Fund

- **c. LEI of Series:** 549300HK3LIJEGLGMK36

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $109895166.06

**Total Liabilities:** $33864960.72

**Net Assets:** $76030205.34

**Cash Not Reported:** $4463.20

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 27.49190700 | **1-Year:** 1888.91928900 | **5-Year:** 11313.08228100 | **10-Year:** 2912.32241700 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 80.86513700 | **1-Year:** 354.50910400 | **5-Year:** 3428.45236000 | **10-Year:** 2337.04192800 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 2.26%                | 0.52%                | 0.33%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-25047.64               | $2119637.47                                |
| Month 2  | $-599665.26              | $287096.84                                 |
| Month 3  | $-692396.81              | $131348.65                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Sabra Health Care Reit Inc                                 | Sabra Health Care REIT, Inc.                               | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |    105319 | NS      | $1876784.58   | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Hotel Reit Investment Corp                           | Japan Hotel REIT Investment Corp.                          | CUSIP: J2761Q107<br>LEI: 353800L8KG849FP1JI68 | Long             | EC               | CORP              | JP        |       307 | NS      | $178889.11    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Capital I Trust                             | Morgan Stanley Capital I Trust                             | CUSIP: 61767FAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13495500 | PA      | $114537.66    | 0.15%             | 2026-08-15      | Variable      | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Bmo Mortgage Trust                                         | BMO 2025-5C12 Mortgage Trust                               | CUSIP: 09663VAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13236000 | PA      | $1177025.86   | 1.55%             | 2058-10-15      | Variable      | 2.28%                 | Yes           |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                   | Benchmark 2020-B19 Mortgage Trust                          | CUSIP: 08162WBH8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1530770.20   | 2.01%             | 2030-09-15      | Fixed         | 3.21%                 | No            |                  2 | On Loan: No      |
| Equity Residential                                         | Equity Residential                                         | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |     15700 | NS      | $933208.00    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Vici Properties Inc                                        | VICI Properties, Inc.                                      | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     23195 | NS      | $695618.05    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Commercial Mortgage Securities Llc                | BBCMS Mortgage Trust 2024-C24                              | CUSIP: 07336VAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2900000 | PA      | $491303.21    | 0.65%             | 2034-02-15      | Variable      | 3.17%                 | Yes           |                  2 | On Loan: No      |
| Mitsubishi Estate Logistics Reit Investment Corp           | Mitsubishi Estate Logistics REIT Investment Corp.          | CUSIP: N/A<br>LEI: 353800YYSGZU31ICQK38       | Long             | EC               | CORP              | JP        |       252 | NS      | $201783.14    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank                                                       | BANK 2019-BNK21                                            | CUSIP: 06540BAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $1873290.75   | 2.46%             | 2052-10-17      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Bank                                                       | BANK 2020-BNK27                                            | CUSIP: 06539YAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1949000 | PA      | $1507657.72   | 1.98%             | 2030-04-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Bank5                                                      | BANK5 2024-5YR12                                           | CUSIP: 06644XBN5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        | 158121000 | PA      | $778714.30    | 1.02%             | 2057-12-15      | Variable      | 0.20%                 | No            |                  2 | On Loan: No      |
| Stockland                                                  | Stockland                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    210645 | NS      | $869676.42    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Invincible Investment Corp                                 | Invincible Investment Corp.                                | CUSIP: N/A<br>LEI: 353800JY6M2692VAV685       | Long             | EC               | CORP              | JP        |       698 | NS      | $312064.11    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare Reit Inc                               | American Healthcare REIT, Inc.                             | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               | CORP              | US        |      5658 | NS      | $256420.56    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                                       | Invitation Homes, Inc.                                     | CUSIP: 46187W107<br>LEI: 984500FE452E665C9F85 | Long             | EC               | CORP              | US        |     28649 | NS      | $806469.35    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Bmo Mortgage Trust                                         | BMO 2024-5C4 Mortgage Trust                                | CUSIP: 09660SAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6804500 | PA      | $548262.38    | 0.72%             | 2029-05-15      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Comm Mortgage Trust                                        | COMM 2015-LC19 Mortgage Trust                              | CUSIP: 200474BH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    891853 | PA      | $861482.62    | 1.13%             | 2048-02-10      | Variable      | 4.06%                 | No            |                  2 | On Loan: No      |
| Ventas Inc                                                 | Ventas, Inc.                                               | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     17630 | NS      | $1300917.70   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercialys Sa                                               | Mercialys SA                                               | CUSIP: N/A<br>LEI: 969500081CGAXB7YS433       | Long             | EC               | CORP              | FR        |    130603 | NS      | $1592701.15   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Gs Mortgage Securities Trust                               | GS Mortgage Securities Trust 2020-GC47                     | CUSIP: 36258RAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1250000 | PA      | $964965.88    | 1.27%             | 2030-04-12      | Variable      | 3.45%                 | Yes           |                  2 | On Loan: No      |
| Cantor Commercial Real Estate Lending                      | Cantor Commercial Real Estate Lending 2019-CF2             | CUSIP: 12528YAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1750000 | PA      | $1548362.73   | 2.04%             | 2052-11-15      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                   | Benchmark 2023-B40 Mortgage Trust                          | CUSIP: 08163WAM7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1290000 | PA      | $917303.91    | 1.21%             | 2056-12-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Jp Morgan Chase Commercial Mortgage Sec Trust              | JPMorgan Chase Commercial Mortgage Securities Trust        | CUSIP: 46634SAM7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1475461.95   | 1.94%             | 2045-05-15      | Variable      | 5.13%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                        | Citigroup Commercial Mortgage Trust 2019-GC43              | CUSIP: 17328HBJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1654707.40   | 2.18%             | 2052-11-10      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                        | Citigroup Commercial Mortgage Trust 2019-GC43              | CUSIP: 17328HAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4074000 | PA      | $2850918.39   | 3.75%             | 2052-11-10      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Gaming And Leisure Properties Inc                          | Gaming and Leisure Properties, Inc.                        | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     24754 | NS      | $1105513.64   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Sf Real Estate Investment Trust                            | SF Real Estate Investment Trust                            | CUSIP: N/A<br>LEI: 213800UGJNP2A1O21932       | Long             | EC               | CORP              | HK        |    286000 | NS      | $103791.88    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Comm Mortgage Trust                                        | Commercial Mortgage Trust                                  | CUSIP: 20048EAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    136297 | PA      | $132319.90    | 0.17%             | 2046-01-10      | Variable      | 3.74%                 | Yes           |                  2 | On Loan: No      |
| Bmo Mortgage Trust                                         | BMO 2023-C4 Mortgage Trust                                 | CUSIP: 05610CAP9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2125000 | PA      | $1956585.68   | 2.57%             | 2033-01-15      | Variable      | 6.06%                 | Yes           |                  2 | On Loan: No      |
| MES01 2024-LGND G                                          | MES01 G                                                    | CUSIP: 524947AF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2320000 | PA      | $2240082.26   | 2.95%             | 2039-11-05      | Fixed         | 10.03%                | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                      | Wells Fargo Commercial Mortgage Trust 2025-5C3             | CUSIP: 95004JAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  32613000 | PA      | $3217415.95   | 4.23%             | 2058-01-15      | Variable      | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                      | Wells Fargo Commercial Mortgage Trust                      | CUSIP: 95003MBU1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  45827000 | PA      | $112431.96    | 0.15%             | 2055-04-15      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| Bank                                                       | BANK 2020-BNK25                                            | CUSIP: 06539WAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $1630334.70   | 2.14%             | 2030-02-15      | Variable      | 2.02%                 | Yes           |                  2 | On Loan: No      |
| National Health Investors Inc                              | National Health Investors, Inc.                            | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               | CORP              | US        |      5085 | NS      | $378883.35    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Ctp Nv                                                     | CTP NV                                                     | CUSIP: N/A<br>LEI: 3157000YTVO4TN65UM14       | Long             | EC               | CORP              | NL        |      4000 | NS      | $83359.27     | 0.11%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Barclays Commercial Mortgage Securities Llc                | BBCMS Mortgage Trust 2024-C24                              | CUSIP: 07336VAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2125000 | PA      | $1567750.84   | 2.06%             | 2034-01-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Merlin Properties Socimi Sa                                | Merlin Properties Socimi SA                                | CUSIP: N/A<br>LEI: 959800L8KD863DP30X04       | Long             | EC               | CORP              | ES        |     15844 | NS      | $246726.42    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Benchmark Mortgage Trust                                   | Benchmark 2022-B36 Mortgage Trust                          | CUSIP: 08163QAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  15860000 | PA      | $2379526.55   | 3.13%             | 2032-05-15      | Variable      | 2.79%                 | Yes           |                  2 | On Loan: No      |
| Digital Realty Trust Inc                                   | Digital Realty Trust, Inc.                                 | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |      3169 | NS      | $540029.29    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontview Reit Inc                                         | FrontView REIT, Inc.                                       | CUSIP: 35922N100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50630 | NS      | $673379.00    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                               | Prologis, Inc.                                             | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |      7187 | NS      | $891834.83    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank                                                       | BANK 2020-BNK25                                            | CUSIP: 06539WAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1250000 | PA      | $901378.13    | 1.19%             | 2030-01-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Americold Realty Trust Inc                                 | Americold Realty Trust                                     | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               | CORP              | US        |     11661 | NS      | $150310.29    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Bx Trust                                                   | BX 2025-BIO3 Mortgage Trust                                | CUSIP: 123911AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  30000000 | PA      | $843693.00    | 1.11%             | 2030-02-10      | Variable      | 0.73%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain Inc                                          | Iron Mountain, Inc.                                        | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |      4529 | NS      | $466260.55    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Esr Kendall Square Reit Co Ltd                             | ESR Kendall Square REIT Co., Ltd.                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |     44733 | NS      | $136891.30    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Benchmark Mortgage Trust                                   | Benchmark 2019-B15 Mortgage Trust                          | CUSIP: 08160KAK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1862000 | PA      | $1491069.49   | 1.96%             | 2072-12-15      | Variable      | 3.83%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                   | Benchmark 2023-B40 Mortgage Trust                          | CUSIP: 08163WAX3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $843737.20    | 1.11%             | 2033-08-15      | Variable      | 3.91%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                      | Wells Fargo Commercial Mortgage Trust 2025-5C5             | CUSIP: 95004MAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  21800000 | PA      | $2261856.82   | 2.97%             | 2058-07-15      | Variable      | 2.69%                 | Yes           |                  2 | On Loan: No      |
| Mitsui Fudosan Co Ltd                                      | Mitsui Fudosan Co., Ltd.                                   | CUSIP: N/A<br>LEI: 353800ND4ZKNZDYKMF33       | Long             | EC               | CORP              | JP        |     64400 | NS      | $669240.15    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Hongkong Land Holdings Ltd                                 | Hongkong Land Holdings, Ltd.                               | CUSIP: G4587L109<br>LEI: 213800XCHYNRPAYGXW28 | Long             | EC               | CORP              | BM        |    131600 | NS      | $804076.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Warehouses De Pauw Cva                                     | Warehouses De Pauw CVA                                     | CUSIP: N/A<br>LEI: 549300HWDYC5JXC85138       | Long             | EC               | CORP              | BE        |     19640 | NS      | $498487.50    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Bfld Trust                                                 | BFLD Commercial Mortgage Trust 2025-5MW                    | CUSIP: 088921AE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2510406.50   | 3.30%             | 2042-10-10      | Variable      | 7.91%                 | Yes           |                  2 | On Loan: No      |
| Centuria Capital Group                                     | Centuria Capital Group                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    202313 | NS      | $312401.40    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Saul Centers Inc                                           | Saul Centers, Inc.                                         | CUSIP: 804395101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28300 | NS      | $837963.00    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                                              | Welltower, Inc.                                            | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     10820 | NS      | $1958852.80   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Comm Mortgage Trust                                        | COMM 2025-167G Mortgage Trust                              | CUSIP: 12674VAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  85000000 | PA      | $1458047.50   | 1.92%             | 2030-08-10      | Variable      | 0.41%                 | Yes           |                  2 | On Loan: No      |
| Extra Space Storage Inc                                    | Extra Space Storage, Inc.                                  | CUSIP: 30225T102<br>LEI: 529900SDJHKRQWED6A16 | Long             | EC               | CORP              | US        |      9309 | NS      | $1243123.86   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Pro Real Estate Investment Trust                           | PRO Real Estate Investment Trust                           | CUSIP: 742694300<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     31603 | NS      | $135645.83    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Comm Mortgage Trust                                        | Commercial Mortgage Trust                                  | CUSIP: 12592KAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5004500 | PA      | $3353165.14   | 4.41%             | 2047-09-10      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| National Storage Reit                                      | National Storage REIT                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    180998 | NS      | $272382.24    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualitas Real Estate Income Fund                           | Qualitas Real Estate Income Fu                             | CUSIP: N/A<br>LEI: 213800DV4JX1UQYXMC45       | N/A              | DE               | CORP              | AU        |     63697 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                             | Morgan Stanley Capital I Trust 2020-L4                     | CUSIP: 61770KBB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    541000 | PA      | $489357.49    | 0.64%             | 2030-02-15      | Fixed         | 3.08%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                   | Benchmark 2021-B31 Mortgage Trust                          | CUSIP: 08163MAY3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1149000 | PA      | $645412.37    | 0.85%             | 2054-12-15      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| Goodman Group                                              | Goodman Group                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |     46428 | NS      | $1003380.67   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Ubs Commercial Mortgage Trust                              | UBS Commercial Mortgage Trust                              | CUSIP: 90278MAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1400000 | PA      | $1115691.78   | 1.47%             | 2052-10-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities Llc                | BBCMS Mortgage Trust 2024-C26                              | CUSIP: 05555AAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4557500 | PA      | $716026.55    | 0.94%             | 2034-05-15      | Variable      | 2.57%                 | Yes           |                  2 | On Loan: No      |
| Comm Mortgage Trust                                        | Commercial Mortgage Trust                                  | CUSIP: 12623SAU4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2359260 | PA      | $2215685.76   | 2.91%             | 2045-12-10      | Variable      | 4.54%                 | Yes           |                  2 | On Loan: No      |
| Safestore Holdings Plc                                     | Safestore Holdings PLC                                     | CUSIP: N/A<br>LEI: 213800WGA3YSJC1YOH73       | Long             | EC               | CORP              | GB        |     23425 | NS      | $220029.62    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Plymouth Industrial Reit Inc                               | Plymouth Industrial REIT, Inc.                             | CUSIP: 729640102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8744 | NS      | $192368.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Gs Mortgage Securities Trust                               | Goldman Sachs Mortgage Securities Trust                    | CUSIP: 36198FAZ5<br>LEI: 549300ITVQSU1IHX4H03 | Long             | ABS-MBS          | CORP              | US        |   1297344 | PA      | $1275327.00   | 1.68%             | 2046-08-10      | Variable      | 3.89%                 | Yes           |                  2 | On Loan: No      |
| Klepierre Sa                                               | Klepierre SA                                               | CUSIP: N/A<br>LEI: 969500PB4U31KEFHZ621       | Long             | EC               | CORP              | FR        |     26666 | NS      | $1018605.12   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa House Reit Investment Corp                           | Daiwa House REIT Investment Corp.                          | CUSIP: N/A<br>LEI: 3538001FWU534P8JMO05       | Long             | EC               | CORP              | JP        |       566 | NS      | $487734.73    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc                                  | Healthpeak Properties, Inc.                                | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |     65713 | NS      | $1179548.35   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Mapletree Logistics Trust                                  | Mapletree Logistics Trust                                  | CUSIP: N/A<br>LEI: 549300M9EBZIYH387075       | Long             | EC               | CORP              | SG        |    197000 | NS      | $202811.92    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Institutional Treasury Plus Money Market Fund | State Street Institutional Treasury Plus Money Market Fund | CUSIP: 857492862<br>LEI: 549300PNASLVKQG64331 | Long             | STIV             | RF                | US        |   4334220 | NS      | $4334220.28   | 5.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirvac Group                                               | Mirvac Group                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    177879 | NS      | $267688.49    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Chartwell Retirement Residences                            | Chartwell Retirement Residence                             | CUSIP: N/A<br>LEI: 549300M7UBEIZBWP4069       | Long             | EC               | CORP              | CA        |     17400 | NS      | $256431.50    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Commercial Mortgage Securities Llc                | BBCMS Mortgage Trust 2025-C32                              | CUSIP: 07337AAX4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $1970851.50   | 2.59%             | 2035-01-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Broadstone Net Lease Inc                                   | Broadstone Net Lease, Inc.                                 | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |     42989 | NS      | $770362.88    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Aims Apac Reit                                             | AIMS AMP Capital Industrial REIT                           | CUSIP: N/A<br>LEI: 549300MGNQOBQ3KVN734       | Long             | EC               | CORP              | SG        |    220600 | NS      | $233887.52    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Centurion Accommodation Reit                               | Centurion Accommodation Reit                               | CUSIP: YK0847904<br>LEI: 254900NE2W0T2HDOXF24 | Long             | EC               | CORP              | SG        |    487079 | NS      | $396668.52    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Jpmbb Commercial Mortgage Securities Trust                 | JPMorgan Chase Commercial Mortgage Securities Trust        | CUSIP: 46640NAM0<br>LEI: 549300UOGMFS1M8XVM16 | Long             | ABS-MBS          | CORP              | US        |   8561709 | PA      | $7415.30      | 0.01%             | 2045-11-15      | Variable      | 1.20%                 | Yes           |                  2 | On Loan: No      |
| Qualitas Real Estate Income Fund                           | Qualitas Real Estate Income Fund                           | CUSIP: Q61825107<br>LEI: 213800DV4JX1UQYXMC45 | Long             | EC               | CORP              | AU        |    382182 | NS      | $398848.62    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Fhlmc Multifamily Structured Pass Through Certs.           | FHLMC Multifamily Structured Pass Through Certificates     | CUSIP: 3137BMTZ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   9690000 | PA      | $6962.27      | 0.01%             | 2026-01-25      | Variable      | 1.70%                 | No            |                  2 | On Loan: No      |
| Bmo 2022-c1 Mortgage Trust                                 | BMO 2022-C1 Mortgage Trust                                 | CUSIP: 05609MBJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5548000 | PA      | $3850510.62   | 5.06%             | 2032-02-15      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Baml Trust                                  | Morgan Stanley Bank of America Merrill Lynch Trust         | CUSIP: 61764RAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  16967678 | PA      | $176860.90    | 0.23%             | 2048-02-15      | Variable      | 1.74%                 | Yes           |                  2 | On Loan: No      |
| Essex Property Trust Inc                                   | Essex Property Trust, Inc.                                 | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |      2706 | NS      | $681289.62    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                                        | Sun Communities, Inc.                                      | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |      3353 | NS      | $424489.80    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Bmo Mortgage Trust                                         | BMO 2024-C9 Mortgage Trust                                 | CUSIP: 05593MAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9145000 | PA      | $1047642.06   | 1.38%             | 2034-07-15      | Variable      | 2.10%                 | Yes           |                  2 | On Loan: No      |
| Bank                                                       | BANK                                                       | CUSIP: 06540CCC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3100000 | PA      | $211408.84    | 0.28%             | 2064-06-15      | Variable      | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Cre Logistics Reit Inc                                     | CRE Logistics REIT, Inc.                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       192 | NS      | $195600.55    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                                                | Equinix, Inc.                                              | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      2686 | NS      | $2272382.86   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                      | Wells Fargo Commercial Mortgage Trust 2024-5C2             | CUSIP: 95003UAK6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9160000 | PA      | $670081.48    | 0.88%             | 2057-11-15      | Variable      | 2.28%                 | Yes           |                  2 | On Loan: No      |
| Rexford Industrial Realty Inc                              | Rexford Industrial Realty, Inc.                            | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |     13280 | NS      | $548729.60    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Benchmark Mortgage Trust                                   | Benchmark 2018-B6 Mortgage Trust                           | CUSIP: 08162CAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1719500 | PA      | $1294316.83   | 1.70%             | 2028-09-10      | Variable      | 3.09%                 | Yes           |                  2 | On Loan: No      |
| Brandywine Realty Trust                                    | Brandywine Realty Trust                                    | CUSIP: 105368203<br>LEI: 5UZ46ZCYUFYYAC0DS831 | Long             | EC               | CORP              | US        |     92727 | NS      | $318053.61    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Nyc Commercial Mortgage Trust                              | NYC 2025-28L F                                             | CUSIP: 67123JAL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1500965.55   | 1.97%             | 2038-11-05      | Variable      | 8.13%                 | Yes           |                  2 | On Loan: No      |
| American Tower Corp                                        | American Tower Corp.                                       | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |       775 | NS      | $138709.50    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexus Industrial Reit                                      | Nexus Industrial REIT                                      | CUSIP: 65344U101<br>LEI: 549300VXQ93JIP08X629 | Long             | EC               | CORP              | CA        |     86600 | NS      | $485930.63    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Dream Industrial Real Estate Investment Trust              | Dream Industrial Real Estate Investment Trust              | CUSIP: 26153W109<br>LEI: 549300QOI0TM3CBYUH79 | Long             | EC               | CORP              | CA        |     15700 | NS      | $135334.21    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Commercial Mortgage Securities Llc                | BBCMS Mortgage Trust 2024-C24                              | CUSIP: 07336VAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2900000 | PA      | $1691239.40   | 2.22%             | 2034-02-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                             | Morgan Stanley Capital I Trust 2019-H6                     | CUSIP: 61769JAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1750000 | PA      | $1428709.80   | 1.88%             | 2029-06-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Unite Group Plc/the                                        | UNITE Group PLC                                            | CUSIP: N/A<br>LEI: 213800BBUUWVDH9YI827       | Long             | EC               | CORP              | GB        |     31896 | NS      | $237582.69    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank                                                       | BANK                                                       | CUSIP: 06540CAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $678414.75    | 0.89%             | 2031-08-15      | Variable      | 1.77%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                        | Citigroup Commercial Mortgage Trust 2019-GC41              | CUSIP: 17328FAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1600000 | PA      | $1242843.68   | 1.63%             | 2029-08-10      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Go Residential Real Estate Investment Trust                | GO Residential Real Estate Investment Trust                | CUSIP: 36272H107<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     15548 | NS      | $178024.60    | 0.23%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                        | Citigroup Commercial Mortgage Trust 2019-C7                | CUSIP: 17328CAH5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2700000 | PA      | $2454055.92   | 3.23%             | 2072-12-15      | Variable      | 4.05%                 | No            |                  2 | On Loan: No      |
| Hang Lung Properties Ltd                                   | Hang Lung Properties, Ltd.                                 | CUSIP: Y30166105<br>LEI: 529900CIVTNMXQT59E61 | Long             | EC               | CORP              | HK        |    317000 | NS      | $352877.21    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Stoneweg Europe Stapled Trust                              | Stoneweg Europe Stapled Trust                              | CUSIP: N/A<br>LEI: 21380093RFHTC319NL93       | Long             | EC               | CORP              | SG        |    225760 | NS      | $395536.04    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank                                                       | BANK                                                       | CUSIP: 06540CAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1700000 | PA      | $889246.03    | 1.17%             | 2031-08-15      | Variable      | 1.77%                 | Yes           |                  2 | On Loan: No      |
| Qualitas Ltd                                               | Qualitas, Ltd.                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |     47681 | NS      | $114495.55    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Sekisui House Reit Inc                                     | Sekisui House Reit, Inc.                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       791 | NS      | $407022.91    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-30

**Name of Applicant:** PRINCIPAL REAL ESTATE INCOME FUND

**Signature:** Erich Rettinger

**Name of Signer:** Erich Rettinger

**Title:** Treasurer