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          <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>230302.60800000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9447012.98000000</valUSD>
        <pctVal>0.908101567947</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 Equity Fund</name>
        <lei>549300O1DA1JNC6UVF17</lei>
        <title>International Equity Fund</title>
        <cusip>74256W592</cusip>
        <identifiers>
          <ticker value="PIIDX"/>
        </identifiers>
        <balance>6983297.58400000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>125140692.71000100</valUSD>
        <pctVal>12.02924771084</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>583125.04000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13324407.16000000</valUSD>
        <pctVal>1.280819139296</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>Core Fixed Income Fund</name>
        <lei>2K6IF9KYA1Q08XNZVZ48</lei>
        <title>Core Fixed Income Fund</title>
        <cusip>742537616</cusip>
        <identifiers>
          <ticker value="PICNX"/>
        </identifiers>
        <balance>37882953.71300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>320868617.95000100</valUSD>
        <pctVal>30.84374877882</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 Value Fund III</name>
        <lei>549300P5E4OK1XZWQO33</lei>
        <title>LargeCap Value Fund III</title>
        <cusip>74253J677</cusip>
        <identifiers>
          <ticker value="PLVIX"/>
        </identifiers>
        <balance>1783312.59000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35648418.67000000</valUSD>
        <pctVal>3.426732339375</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>627078.71000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22267564.99000000</valUSD>
        <pctVal>2.140487233858</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>32228.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2388417.08000000</valUSD>
        <pctVal>0.229588474140</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>11788.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>802644.92000000</valUSD>
        <pctVal>0.077154875504</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>8375884.52600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>54778284.80000000</valUSD>
        <pctVal>5.265605797478</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>Spectrum Preferred and Capital Securities Income Fund</name>
        <lei>549300C5BAH7DRKDHO25</lei>
        <title>Spectrum Preferred and Capital Securities Income Fund</title>
        <cusip>74256W485</cusip>
        <identifiers>
          <ticker value="PPREX"/>
        </identifiers>
        <balance>249932.12600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2291877.60000000</valUSD>
        <pctVal>0.220308540541</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>338113.04400000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4365039.40000000</valUSD>
        <pctVal>0.419592852437</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 Growth Fund I</name>
        <lei>5493005TWCHTR0PO8C36</lei>
        <title>LargeCap Growth Fund I</title>
        <cusip>742537590</cusip>
        <identifiers>
          <ticker value="PLCGX"/>
        </identifiers>
        <balance>1895398.12800000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30383231.99000000</valUSD>
        <pctVal>2.920612120236</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>658838.13500000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27723908.72000000</valUSD>
        <pctVal>2.664982575080</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>863699.46900000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34539341.77000000</valUSD>
        <pctVal>3.320121448293</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 Real Asset Fund</name>
        <lei>549300FY1HF8KNDK4G58</lei>
        <title>Diversified Real Asset Fund</title>
        <cusip>742537467</cusip>
        <identifiers>
          <ticker value="PDARX"/>
        </identifiers>
        <balance>528350.42700000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7233117.35000000</valUSD>
        <pctVal>0.695289105729</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>63631.97300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1898778.07000000</valUSD>
        <pctVal>0.182521538416</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="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>2026-08-28</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>
