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                  <ticker value="CNH6C"/>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Finisterre Emerging Markets Total Return Bond Fund</name>
        <lei>549300MNS2JZWUXHD778</lei>
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        <cusip>74255L175</cusip>
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          <ticker value="PFUMX"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <ticker value="G H6C"/>
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        <fairValLevel>1</fairValLevel>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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      </invstOrSec>
      <invstOrSec>
        <name>Core Fixed Income Fund</name>
        <lei>2K6IF9KYA1Q08XNZVZ48</lei>
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        <cusip>742537616</cusip>
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          <ticker value="PICNX"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Equity Income Fund</name>
        <lei>549300LK1BTIDFAOW136</lei>
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          <ticker value="PEIIX"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <ticker value="XMH6C"/>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>SFE</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>Diversified Real Asset Fund</name>
        <lei>549300FY1HF8KNDK4G58</lei>
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        <cusip>742537467</cusip>
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          <ticker value="PDARX"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Principal Government Money Market Fund - Class R-6</name>
        <lei>N/A</lei>
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          <isin value="US74257B6395"/>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
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          <ticker value="RXH6C"/>
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        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>EUX</counterpartyName>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>Overseas Fund</name>
        <lei>M8LPS0WBNG35BUE1BV52</lei>
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        <cusip>742553571</cusip>
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          <ticker value="PINZX"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Global Listed Infrastructure Fund</name>
        <lei>549300UO9IFEWQKUAV03</lei>
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        <cusip>74256W121</cusip>
        <identifiers>
          <ticker value="PGSLX"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Global Macro Fund</name>
        <lei>N/A</lei>
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          <ticker value="PAFIX"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Inflation Protection Fund</name>
        <lei>5493006ECFME6VCZ0U45</lei>
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        <cusip>74254T815</cusip>
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          <ticker value="PIPIX"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Small-MidCap Dividend Income Fund</name>
        <lei>54930000PG64KHHYCN32</lei>
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          <ticker value="PMDHX"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>LargeCap Value Fund III</name>
        <lei>549300P5E4OK1XZWQO33</lei>
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        <cusip>74253J677</cusip>
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          <ticker value="PLVIX"/>
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        <fairValLevel>1</fairValLevel>
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        <name>High Yield Fund</name>
        <lei>2U04QLKKFWRJC7CSOX80</lei>
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        <cusip>74256W626</cusip>
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          <ticker value="PHYFX"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Bond Market Index Fund</name>
        <lei>VNIC77YUXCT48GBDSU43</lei>
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        <cusip>742553316</cusip>
        <identifiers>
          <ticker value="PNIIX"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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        <name>MidCap Fund</name>
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          <ticker value="PMAQX"/>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <name>N/A</name>
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      </invstOrSec>
      <invstOrSec>
        <name>LargeCap Growth Fund I</name>
        <lei>5493005TWCHTR0PO8C36</lei>
        <title>LargeCap Growth Fund I</title>
        <cusip>742537590</cusip>
        <identifiers>
          <ticker value="PLCGX"/>
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        <curCd>USD</curCd>
        <valUSD>13199015.18000000</valUSD>
        <pctVal>0.701128922453</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>Principal U.S. Small-Cap ETF</name>
        <lei>5493008MXNTNT2RRXN18</lei>
        <title>Principal U.S. Small-Cap ETF</title>
        <cusip>74255Y607</cusip>
        <identifiers>
          <isin value="US74255Y6077"/>
        </identifiers>
        <balance>666700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40035335.00000000</valUSD>
        <pctVal>2.126668611697</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>N/A</name>
        <lei>N/A</lei>
        <title>Futures</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="JBH6C"/>
        </identifiers>
        <balance>31.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="154.76000000"/>
        <valUSD>-347420.42000000</valUSD>
        <pctVal>-0.01845489995</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Other - Exchange" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>OSE</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Japan 10 Year Bond TSE; March 2026</issueTitle>
                <identifiers>
                  <ticker value="JBH6C"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-03-13</expDate>
            <notionalAmt>26362819.85000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-347420.42000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Principal Capital Appreciation Fund</name>
        <lei>549300488LDV833BXR20</lei>
        <title>Principal Capital Appreciation Fund</title>
        <cusip>74254U432</cusip>
        <identifiers>
          <ticker value="PWCIX"/>
        </identifiers>
        <balance>1023934.08600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>89358727.69000000</valUSD>
        <pctVal>4.746716902945</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>Principal U.S. Mega-Cap ETF</name>
        <lei>549300XGM3O583ZPRJ37</lei>
        <title>Principal U.S. Mega-Cap ETF</title>
        <cusip>74255Y870</cusip>
        <identifiers>
          <isin value="US74255Y8701"/>
        </identifiers>
        <balance>2128648.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>144169923.20000100</valUSD>
        <pctVal>7.658276130831</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>361322.70400000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10232658.98000000</valUSD>
        <pctVal>0.543556702272</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>5380244.06600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>65477570.28000000</valUSD>
        <pctVal>3.478154822102</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>2049616.13900000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>76204728.05000000</valUSD>
        <pctVal>4.047979196550</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>Government &amp; High Quality Bond Fund</name>
        <lei>XQSA5XKJBXF2IV4K6K06</lei>
        <title>Government &amp; High Quality Bond Fund</title>
        <cusip>74254U457</cusip>
        <identifiers>
          <ticker value="PMRIX"/>
        </identifiers>
        <balance>4304438.35500000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39557788.48000000</valUSD>
        <pctVal>2.101301440555</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>LargeCap S&amp;P 500 Index Fund</name>
        <lei>549300HDJCROTIVIXD92</lei>
        <title>LargeCap S&amp;P 500 Index Fund</title>
        <cusip>74253Q788</cusip>
        <identifiers>
          <ticker value="PLFIX"/>
        </identifiers>
        <balance>811961.05600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26656681.47000000</valUSD>
        <pctVal>1.415997337708</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="Cash and cash equivalents includes USD and only foreign currencies considered highly liquid." noteItem="B.2.f"/>
      <explntrNote note="Not applicable for derivative asset types" noteItem="C.5.a"/>
      <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>2026-02-27</ncom:dateSigned>
      <ncom:nameOfApplicant>Principal Funds, Inc</ncom:nameOfApplicant>
      <ncom:signature>Megan Hoffmann</ncom:signature>
      <ncom:signerName>/s/ Megan Hoffmann</ncom:signerName>
      <ncom:title>Vice President and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
