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        <cusip>74254T815</cusip>
        <identifiers>
          <ticker value="PIPIX"/>
        </identifiers>
        <balance>411801.33700000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3100864.07000000</valUSD>
        <pctVal>5.793395666410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Short-Term Income Fund</name>
        <lei>IJOCWVJG326LDFE5SJ51</lei>
        <title>Short-Term Income Fund</title>
        <cusip>74254U440</cusip>
        <identifiers>
          <ticker value="PSHIX"/>
        </identifiers>
        <balance>753817.97500000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9030739.34000000</valUSD>
        <pctVal>16.87227978259</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Equity Income Fund</name>
        <lei>549300LK1BTIDFAOW136</lei>
        <title>Equity Income Fund</title>
        <cusip>74254U499</cusip>
        <identifiers>
          <ticker value="PEIIX"/>
        </identifiers>
        <balance>52592.00500000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2053717.80000000</valUSD>
        <pctVal>3.836994958166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Small-MidCap Dividend Income Fund</name>
        <lei>54930000PG64KHHYCN32</lei>
        <title>Small-MidCap Dividend Income Fund</title>
        <cusip>74256W469</cusip>
        <identifiers>
          <ticker value="PMDHX"/>
        </identifiers>
        <balance>27518.59700000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>513772.21000000</valUSD>
        <pctVal>0.959889123722</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>International Small Company Fund</name>
        <lei>5493005DM6DKJRUY3N14</lei>
        <title>International Small Company Fund</title>
        <cusip>74256W493</cusip>
        <identifiers>
          <ticker value="PFISX"/>
        </identifiers>
        <balance>30991.87800000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>302790.65000000</valUSD>
        <pctVal>0.565708783081</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Blue Chip Fund</name>
        <lei>549300DIGKZKBG8KG876</lei>
        <title>Blue Chip Fund</title>
        <cusip>74256W535</cusip>
        <identifiers>
          <ticker value="PGBHX"/>
        </identifiers>
        <balance>50504.12200000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2326724.90000000</valUSD>
        <pctVal>4.347058641815</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SmallCap S&amp;P 600 Index Fund</name>
        <lei>549300B1ZF0B4X7VPP69</lei>
        <title>SmallCap S&amp;P 600 Index Fund</title>
        <cusip>74256W543</cusip>
        <identifiers>
          <ticker value="PSPIX"/>
        </identifiers>
        <balance>3749.93700000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>96335.88000000</valUSD>
        <pctVal>0.179985919122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SmallCap Fund</name>
        <lei>5493008AXRXQLEL0TR95</lei>
        <title>SmallCap Fund</title>
        <cusip>74256W550</cusip>
        <identifiers>
          <ticker value="PSMLX"/>
        </identifiers>
        <balance>28356.05600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>806729.79000000</valUSD>
        <pctVal>1.507226619369</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Real Estate Securities Fund</name>
        <lei>5493007VCVKAGWPVUY18</lei>
        <title>Real Estate Securities Fund</title>
        <cusip>74256W568</cusip>
        <identifiers>
          <ticker value="PFRSX"/>
        </identifiers>
        <balance>33869.59800000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>952074.40000000</valUSD>
        <pctVal>1.778776359926</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MidCap Fund</name>
        <lei>549300D8KHZ8MDOZYC94</lei>
        <title>MidCap Fund</title>
        <cusip>74256W584</cusip>
        <identifiers>
          <ticker value="PMAQX"/>
        </identifiers>
        <balance>13193.87400000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>588842.60000000</valUSD>
        <pctVal>1.100144375899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Global Emerging Markets Fund</name>
        <lei>5493005LRWTRDOOFXF24</lei>
        <title>Global Emerging Markets Fund</title>
        <cusip>74256W618</cusip>
        <identifiers>
          <ticker value="PIIMX"/>
        </identifiers>
        <balance>17316.35400000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>445376.62000000</valUSD>
        <pctVal>0.832104510865</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>High Yield Fund</name>
        <lei>2U04QLKKFWRJC7CSOX80</lei>
        <title>High Yield Fund</title>
        <cusip>74256W626</cusip>
        <identifiers>
          <ticker value="PHYFX"/>
        </identifiers>
        <balance>527003.17900000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3536191.33000000</valUSD>
        <pctVal>6.606724791654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Diversified International Fund</name>
        <lei>549300WI2K0C68CW5R08</lei>
        <title>Diversified International Fund</title>
        <cusip>74257B811</cusip>
        <identifiers>
          <ticker value="PDIFX"/>
        </identifiers>
        <balance>314869.35900000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4149978.15000000</valUSD>
        <pctVal>7.753472866648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Returns shown in Item B.5.a have been calculated without deducting any applicable sales loads or redemption fees" noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-01-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Principal Variable Contract Funds, Inc</ncom:nameOfApplicant>
      <ncom:signature>Megan Hoffmann</ncom:signature>
      <ncom:signerName>/s/ Megan Hoffmann</ncom:signerName>
      <ncom:title>Vice President and Controller</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
