# EDGAR Filing Document

**Accession Number:** 0000898745
**File Stem:** 0001752724-25-150739
**Filing Date:** 2025-6
**Character Count:** 48761
**Document Hash:** f3b0e9efb13f69a39a84567d87acb47d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-150739.hdr.sgml**: 20250623

**ACCESSION NUMBER**: 0001752724-25-150739

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250623

**DATE AS OF CHANGE**: 20250623

**PERIOD START**: 20251031

**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:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07572
- **FILM NUMBER:** 251063783

**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

### SmallCap Fund (fka SmallCap Blend Fund) (Series ID: S000007214)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019804 | R-3                 | PSBMX           |
| C000019805 | R-5                 | PSBPX           |
| C000019807 | Institutional Class | PSLIX           |
| C000019808 | Class J             | PSBJX           |
| C000019809 | Class A             | PLLAX           |
| C000175487 | R-6                 | PSMLX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Principal Funds, Inc

- **b. Investment Company Act file number:** 811-07572

- **c. CIK number of Registrant:** 0000898745

- **d. LEI of Registrant:** 549300HZGBXSW6DSXF23

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

  - **Street Address 1:** 801 Grand Ave

  - **City:** Des Moines

  - **State:** IA

  - **Foreign country:** US

  - **Zip / Postal Code:** 50309

  - **Telephone number:** 515-235-1719

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

- **a. Name of Series:** SmallCap Fund

- **b. EDGAR series identifier (if any):** S000007214

- **c. LEI of Series:** 5493008AXRXQLEL0TR95

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

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

- **b. Date as of which information is reported:** 2025-04-30

**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:** $1941554941.91

**Total Liabilities:** $12899461.03

**Net Assets:** $1928655480.88

**Cash Not Reported:** $0.28

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000175487 | -5.05%               | -7.79%               | -1.04%               |
| Class ID C000019805 | -5.10%               | -7.79%               | -1.06%               |
| Class ID C000019809 | -5.08%               | -7.83%               | -1.07%               |
| Class ID C000019804 | -5.10%               | -7.84%               | -1.08%               |
| Class ID C000019808 | -5.08%               | -7.81%               | -1.09%               |
| Class ID C000019807 | -5.08%               | -7.80%               | -1.04%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $12884779.33             | $-126635780.04                             |
| Month 2  | $2186520.40              | $-168775607.65                             |
| Month 3  | $-26090344.03            | $6159389.10                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Newmark Group Inc                                  | Newmark Group Inc                                  | CUSIP: 65158N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1161500 | NS      | $12764885.00  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank Holdings Corp                        | National Bank Holdings Corp                        | CUSIP: 633707104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    214800 | NS      | $7767168.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp                             | Louisiana-Pacific Corp                             | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |    121200 | NS      | $10460772.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Verra Mobility Corp                                | Verra Mobility Corp                                | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |    699100 | NS      | $15240380.00  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc                               | Chart Industries Inc                               | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |    241000 | NS      | $32530180.00  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries Inc                               | Dycom Industries Inc                               | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |    163100 | NS      | $27327405.00  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Stride Inc                                         | Stride Inc                                         | CUSIP: 86333M108<br>LEI: 254900BRWS3AFONWU277 | Long             | EC               | CORP              | US        |    225400 | NS      | $32063150.00  | 1.66%             |  |  |  | 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        |  26331666 | NS      | $26331665.60  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Inc                                         | Vertex Inc                                         | CUSIP: 92538J106<br>LEI: 549300QMYW171MP1PL50 | Long             | EC               | CORP              | US        |    211612 | NS      | $8470828.36   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| American States Water Co                           | American States Water Co                           | CUSIP: 029899101<br>LEI: 529900L26LIS2V8PWM23 | Long             | EC               | CORP              | US        |    120900 | NS      | $9806199.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Remitly Global Inc                                 | Remitly Global Inc                                 | CUSIP: 75960P104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    266800 | NS      | $5394696.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Independent Bank Corp/MI                           | Independent Bank Corp/MI                           | CUSIP: 453838609<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    235800 | NS      | $7182468.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                                        | SiTime Corp                                        | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     90000 | NS      | $13217400.00  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Structure Therapeutics Inc                         | Structure Therapeutics Inc                         | CUSIP: 86366E106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    350000 | NS      | $9450000.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources Inc                              | Civitas Resources Inc                              | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |    357700 | NS      | $9747325.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Co                               | Commercial Metals Co                               | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |    495000 | NS      | $22047300.00  | 1.14%             |  |  |  | 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        |    440200 | NS      | $20944716.00  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Helix Energy Solutions Group Inc                   | Helix Energy Solutions Group Inc                   | CUSIP: 42330P107<br>LEI: 416AP2JOUTCWEGSOZW41 | Long             | EC               | CORP              | US        |    489300 | NS      | $2979837.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ChampionX Corp                                     | ChampionX Corp                                     | CUSIP: 15872M104<br>LEI: 549300EP2909K6DYYP38 | Long             | EC               | CORP              | US        |    603700 | NS      | $14567281.00  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Brands Inc                                | BellRing Brands Inc                                | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |    175200 | NS      | $13514928.00  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| MYR Group Inc                                      | MYR Group Inc                                      | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |    106700 | NS      | $13051544.00  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Jamf Holding Corp                                  | Jamf Holding Corp                                  | CUSIP: 47074L105<br>LEI: 254900IHLXZU4Z5ANA12 | Long             | EC               | CORP              | US        |    447700 | NS      | $5179889.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Henderson Group PLC                          | Janus Henderson Group PLC                          | CUSIP: G4474Y214<br>LEI: 2138009WPYMWJN3RVF44 | Long             | EC               | CORP              | GB        |    620600 | NS      | $20610126.00  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Exact Sciences Corp                                | Exact Sciences Corp                                | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |    336500 | NS      | $15357860.00  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln National Corp                              | Lincoln National Corp                              | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |    834000 | NS      | $26579580.00  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp                          | Taylor Morrison Home Corp                          | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |    564600 | NS      | $32379810.00  | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corp                              | Stifel Financial Corp                              | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |    251300 | NS      | $21533897.00  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp                                | Curtiss-Wright Corp                                | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |     48500 | NS      | $16727165.00  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                           | Fabrinet                                           | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | TH        |     43651 | NS      | $8951074.06   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp                             | Webster Financial Corp                             | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |    189922 | NS      | $8983310.60   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                                     | Ameris Bancorp                                     | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |    341300 | NS      | $20000180.00  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishay Intertechnology Inc                         | Vishay Intertechnology Inc                         | CUSIP: 928298108<br>LEI: 5493009O8F3QQJTCQR75 | Long             | EC               | CORP              | US        |    781300 | NS      | $10149087.00  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding Ltd                 | Credo Technology Group Holding Ltd                 | CUSIP: G25457105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    302395 | NS      | $13018104.75  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| PVH Corp                                           | PVH Corp                                           | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |    203100 | NS      | $14009838.00  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Collegium Pharmaceutical Inc                       | Collegium Pharmaceutical Inc                       | CUSIP: 19459J104<br>LEI: 54930049FXZMTLW8D496 | Long             | EC               | CORP              | US        |    575900 | NS      | $15546420.50  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| DoubleVerify Holdings Inc                          | DoubleVerify Holdings Inc                          | CUSIP: 25862V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    413000 | NS      | $5476380.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| SailPoint Inc                                      | SailPoint Inc                                      | CUSIP: 78781J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    243800 | NS      | $4183608.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: —       |
| Visteon Corp                                       | Visteon Corp                                       | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |    130700 | NS      | $10350133.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| AAR Corp                                           | AAR Corp                                           | CUSIP: 000361105<br>LEI: MP76T5YQX3YK5VVAQ802 | Long             | EC               | CORP              | US        |    235600 | NS      | $12595176.00  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprout Social Inc                                  | Sprout Social Inc                                  | CUSIP: 85209W109<br>LEI: 254900QE3QH8EBRDOB65 | Long             | EC               | CORP              | US        |    412480 | NS      | $8624956.80   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Axsome Therapeutics Inc                            | Axsome Therapeutics Inc                            | CUSIP: 05464T104<br>LEI: 549300EXGR0XLRJEIB95 | Long             | EC               | CORP              | US        |    137700 | NS      | $15462333.00  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co                            | Modine Manufacturing Co                            | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |    310000 | NS      | $25308400.00  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Natera Inc                                         | Natera Inc                                         | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    208492 | NS      | $31467697.56  | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Gas Holdings Inc                         | Southwest Gas Holdings Inc                         | CUSIP: 844895102<br>LEI: 254900LKF9EV0CUKNE09 | Long             | EC               | CORP              | US        |    367790 | NS      | $26558115.90  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexcom Inc                                         | Dexcom Inc                                         | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |     67300 | NS      | $4803874.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners Inc                    | Pinnacle Financial Partners Inc                    | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |    235600 | NS      | $23616544.00  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| TopBuild Corp                                      | TopBuild Corp                                      | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |      8900 | NS      | $2632264.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Ladder Capital Corp                                | Ladder Capital Corp                                | CUSIP: 505743104<br>LEI: 549300Q6LLV2QCV67C06 | Long             | EC               | CORP              | US        |    721100 | NS      | $7528284.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurn Elkay Water Solutions Corp                    | Zurn Elkay Water Solutions Corp                    | CUSIP: 98983L108<br>LEI: 549300AM3633XDFU1Q85 | Long             | EC               | CORP              | US        |    679100 | NS      | $23062236.00  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc                             | Cousins Properties Inc                             | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |    616300 | NS      | $16972902.00  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| OneMain Holdings Inc                               | OneMain Holdings Inc                               | CUSIP: 68268W103<br>LEI: 549300E3VEW8SMS5XW09 | Long             | EC               | CORP              | US        |    270400 | NS      | $12727728.00  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Privia Health Group Inc                            | Privia Health Group Inc                            | CUSIP: 74276R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    880739 | NS      | $20679751.72  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Teekay Tankers Ltd                                 | Teekay Tankers Ltd                                 | CUSIP: G8726X106<br>LEI: 549300DE8ZAIYS2T6Q22 | Long             | EC               | CORP              | CA        |    339400 | NS      | $14448258.00  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients Inc                            | Darling Ingredients Inc                            | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |    419100 | NS      | $13490829.00  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp                                  | Chord Energy Corp                                  | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |    144500 | NS      | $13038235.00  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunocore Holdings PLC                            | Immunocore Holdings PLC                            | CUSIP: 45258D105<br>LEI: 213800IUE3DFS84BVN18 | Long             | EC               | CORP              | GB        |    220700 | NS      | $6643070.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Manhattan Associates Inc                           | Manhattan Associates Inc                           | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |     56000 | NS      | $9933840.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Axis Capital Holdings Ltd                          | Axis Capital Holdings Ltd                          | CUSIP: G0692U109<br>LEI: 635400VD2NQBYAHMEM55 | Long             | EC               | CORP              | BM        |    109400 | NS      | $10537408.00  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Abacus Global Management Inc                       | Abacus Global Management Inc                       | CUSIP: 00258Y104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    334273 | NS      | $2761094.98   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ's Wholesale Club Holdings Inc                   | BJ's Wholesale Club Holdings Inc                   | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |    233051 | NS      | $27397475.56  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgebio Pharma Inc                               | Bridgebio Pharma Inc                               | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |    464900 | NS      | $17833564.00  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro MicroSystems Inc                           | Allegro MicroSystems Inc                           | CUSIP: 01749D105<br>LEI: 54930004TGPV6DR3LE12 | Long             | EC               | CORP              | US        |    631900 | NS      | $12050333.00  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO International Inc                            | WESCO International Inc                            | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |    142200 | NS      | $23172912.00  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Viking Therapeutics Inc                            | Viking Therapeutics Inc                            | CUSIP: 92686J106<br>LEI: 529900IVC72YPFA25M37 | Long             | EC               | CORP              | US        |    255000 | NS      | $7361850.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp                                 | Regal Rexnord Corp                                 | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |    180500 | NS      | $19104120.00  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Water Products Inc - Class A               | Mueller Water Products Inc - Class A               | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |   1131400 | NS      | $29687936.00  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corp                                 | First Horizon Corp                                 | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |   1420300 | NS      | $25679024.00  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                                  | Agree Realty Corp                                  | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    449200 | NS      | $34862412.00  | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Caleres Inc                                        | Caleres Inc                                        | CUSIP: 129500104<br>LEI: JFU6RQQJ8Z1CPOLBXQ18 | Long             | EC               | CORP              | US        |    553700 | NS      | $8438388.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: —       |
| First Merchants Corp                               | First Merchants Corp                               | CUSIP: 320817109<br>LEI: TZTBT0OTGQ2FEK6XMX94 | Long             | EC               | CORP              | US        |    290900 | NS      | $10367676.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co Inc                                        | Trex Co Inc                                        | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    290700 | NS      | $16808274.00  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Denali Therapeutics Inc                            | Denali Therapeutics Inc                            | CUSIP: 24823R105<br>LEI: 549300ZTQ2HO18L3Q830 | Long             | EC               | CORP              | US        |    513600 | NS      | $8551440.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| LifeStance Health Group Inc                        | LifeStance Health Group Inc                        | CUSIP: 53228F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1415700 | NS      | $9301149.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SpringWorks Therapeutics Inc                       | SpringWorks Therapeutics Inc                       | CUSIP: 85205L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    536200 | NS      | $24826060.00  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Gulfport Energy Corp                               | Gulfport Energy Corp                               | CUSIP: 402635502<br>LEI: 254900DJRGZBUZ3F5038 | Long             | EC               | CORP              | US        |     46300 | NS      | $7986750.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| AdaptHealth Corp                                   | AdaptHealth Corp                                   | CUSIP: 00653Q102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    450600 | NS      | $3834606.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Lulu's Fashion Lounge Holdings Inc                 | Lulu's Fashion Lounge Holdings Inc                 | CUSIP: 55003A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    390635 | NS      | $170746.56    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Akero Therapeutics Inc                             | Akero Therapeutics Inc                             | CUSIP: 00973Y108<br>LEI: 549300SI3KG74LBE2955 | Long             | EC               | CORP              | US        |    159569 | NS      | $7277942.09   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp                                 | UMB Financial Corp                                 | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |    325200 | NS      | $30754164.00  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Castle Biosciences Inc                             | Castle Biosciences Inc                             | CUSIP: 14843C105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    631100 | NS      | $12653555.00  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Varonis Systems Inc                                | Varonis Systems Inc                                | CUSIP: 922280102<br>LEI: 549300SHIVNRRH7STS26 | Long             | EC               | CORP              | US        |    571000 | NS      | $24461640.00  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TKO Group Holdings Inc                             | TKO Group Holdings Inc                             | CUSIP: 87256C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    238700 | NS      | $38886617.00  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co                          | Performance Food Group Co                          | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |    364118 | NS      | $29369757.88  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Iovance Biotherapeutics Inc                        | Iovance Biotherapeutics Inc                        | CUSIP: 462260100<br>LEI: 2549002L8WT2ACU5Q878 | Long             | EC               | CORP              | US        |   2094700 | NS      | $7519973.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group Inc                            | CNO Financial Group Inc                            | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |    531566 | NS      | $20167614.04  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc                                | Eagle Materials Inc                                | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |     47718 | NS      | $10802878.02  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Life Time Group Holdings Inc                       | Life Time Group Holdings Inc                       | CUSIP: 53190C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1002300 | NS      | $30730518.00  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus HomeCare Corp                                | Addus HomeCare Corp                                | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |    162300 | NS      | $16968465.00  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                                       | Entegris Inc                                       | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |    157940 | NS      | $12496212.80  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Cytokinetics Inc                                   | Cytokinetics Inc                                   | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |    258000 | NS      | $11052720.00  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co                       | Portland General Electric Co                       | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |    539200 | NS      | $22711104.00  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| JFrog Ltd                                          | JFrog Ltd                                          | CUSIP: M6191J100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    517800 | NS      | $17486106.00  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanex Building Products Corp                      | Quanex Building Products Corp                      | CUSIP: 747619104<br>LEI: 5493000TL30VL5WOAW87 | Long             | EC               | CORP              | US        |    666600 | NS      | $10958904.00  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity FedFund - Institutional Class  | BlackRock Liquidity FedFund - Institutional Class  | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |   1168515 | NS      | $1168515.31   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp                            | Wintrust Financial Corp                            | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     92400 | NS      | $10272108.00  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                                         | Insmed Inc                                         | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |    760426 | NS      | $54750672.00  | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies Inc                               | SPX Technologies Inc                               | CUSIP: 78473E103<br>LEI: P761FCI0CPOG24I8JE10 | Long             | EC               | CORP              | US        |     80000 | NS      | $10732000.00  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Vital Farms Inc                                    | Vital Farms Inc                                    | CUSIP: 92847W103<br>LEI: 549300S6NYY7ER3XOT61 | Long             | EC               | CORP              | US        |    463400 | NS      | $15866816.00  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| American Eagle Outfitters Inc                      | American Eagle Outfitters Inc                      | CUSIP: 02553E106<br>LEI: 5299001Z9HXK01DHW793 | Long             | EC               | CORP              | US        |    514100 | NS      | $5413473.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Sterling Infrastructure Inc                        | Sterling Infrastructure Inc                        | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |    123200 | NS      | $18409776.00  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment Inc                          | Caesars Entertainment Inc                          | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |    333900 | NS      | $9035334.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearwater Analytics Holdings Inc                  | Clearwater Analytics Holdings Inc                  | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    557600 | NS      | $12679824.00  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Marex Group PLC                                    | Marex Group PLC                                    | CUSIP: G5S37H101<br>LEI: 549300DWX0SVICJAL507 | Long             | EC               | CORP              | GB        |    187000 | NS      | $8293450.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilysys Inc                                       | Agilysys Inc                                       | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Long             | EC               | CORP              | US        |    124700 | NS      | $9271445.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Essent Group Ltd                                   | Essent Group Ltd                                   | CUSIP: G3198U102<br>LEI: 254900QUO860OUT6ZF83 | Long             | EC               | CORP              | US        |    299300 | NS      | $17039149.00  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| RadNet Inc                                         | RadNet Inc                                         | CUSIP: 750491102<br>LEI: 529900RECG94V2IZJ970 | Long             | EC               | CORP              | US        |    399900 | NS      | $20946762.00  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| EnerSys                                            | EnerSys                                            | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |    224300 | NS      | $19424380.00  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalOcean Holdings Inc                          | DigitalOcean Holdings Inc                          | CUSIP: 25402D102<br>LEI: 549300EPISPY3RE3DL21 | Long             | EC               | CORP              | US        |    340700 | NS      | $10527630.00  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                      | Rexford Industrial Realty Inc                      | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |    304400 | NS      | $10075640.00  | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries Inc                     | Advanced Energy Industries Inc                     | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |    200500 | NS      | $19530705.00  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Trustmark Corp                                     | Trustmark Corp                                     | CUSIP: 898402102<br>LEI: 5493000HPQ4D2RZ79739 | Long             | EC               | CORP              | US        |    170900 | NS      | $5733695.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT Inc                       | American Healthcare REIT Inc                       | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               | CORP              | US        |    256100 | NS      | $8266908.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Sophia Genetics SA                                 | Sophia Genetics SA                                 | CUSIP: H82027105<br>LEI: 506700H1GPU9GGM8W895 | Long             | EC               | CORP              | CH        |    637600 | NS      | $1944680.00   | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Graphic Packaging Holding Co                       | Graphic Packaging Holding Co                       | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    958000 | NS      | $24246980.00  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| FNB Corp/PA                                        | FNB Corp/PA                                        | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |   1632296 | NS      | $21366754.64  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Bicycle Therapeutics PLC                           | Bicycle Therapeutics PLC                           | CUSIP: 088786108<br>LEI: 213800XKUI6R7GKC3E43 | Long             | EC               | CORP              | GB        |    293300 | NS      | $2510648.00   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Progress Software Corp                             | Progress Software Corp                             | CUSIP: 743312100<br>LEI: 549300R65B3JG6972S24 | Long             | EC               | CORP              | US        |    239400 | NS      | $14354424.00  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| World Kinect Corp                                  | World Kinect Corp                                  | CUSIP: 981475106<br>LEI: D3W7PCXCBRQLL17DZ313 | Long             | EC               | CORP              | US        |    427500 | NS      | $10725975.00  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Lazard Inc                                         | Lazard Inc                                         | CUSIP: 52110M109<br>LEI: 254900RIBCDJSUFG1A11 | Long             | EC               | CORP              | US        |    619200 | NS      | $24086880.00  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Lindblad Expeditions Holdings Inc                  | Lindblad Expeditions Holdings Inc                  | CUSIP: 535219109<br>LEI: 549300GSPW24GZE6R597 | Long             | EC               | CORP              | US        |    532900 | NS      | $4710836.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceTitan Inc                                   | ServiceTitan Inc                                   | CUSIP: 81764X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    139642 | NS      | $16144011.62  | 0.84%             |  |  |  | No            |                  1 | On Loan: —       |
| Parsons Corp                                       | Parsons Corp                                       | CUSIP: 70202L102<br>LEI: 549300ZXH0VRBSEPX752 | Long             | EC               | CORP              | US        |    287000 | NS      | $19188820.00  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corp                                     | TD SYNNEX Corp                                     | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |    179077 | NS      | $19841731.60  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Huron Consulting Group Inc                         | Huron Consulting Group Inc                         | CUSIP: 447462102<br>LEI: 549300NGVB9H6TKTLE36 | Long             | EC               | CORP              | US        |    116900 | NS      | $15756951.00  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular Inc                                        | Popular Inc                                        | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |    336600 | NS      | $32118372.00  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy Inc                           | Patterson-UTI Energy Inc                           | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Long             | EC               | CORP              | US        |   1350700 | NS      | $7617948.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-29

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

**Signature:** Megan Hoffmann

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

**Title:** Vice President and Controller