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          <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>6866575.55800000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>126070327.24000100</valUSD>
        <pctVal>3.144207139167</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>5643434.18900000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>180025550.63000100</valUSD>
        <pctVal>4.489856050313</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>6727257.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>242853977.70000100</valUSD>
        <pctVal>6.056803588730</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>11806150.01300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>417465464.46000100</valUSD>
        <pctVal>10.41163232020</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 Government Money Market Fund - Institutional Class</name>
        <lei>549300WWK3YB7DNN4U34</lei>
        <title>Principal Government Money Market Fund - Institutional Class</title>
        <cusip>742537228</cusip>
        <identifiers>
          <isin value="US7425372288"/>
        </identifiers>
        <balance>41450455.85000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41450455.85000000</valUSD>
        <pctVal>1.033778701606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</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>52918645.95400000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>434462083.28000100</valUSD>
        <pctVal>10.83552977019</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>4818690.49300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40669747.76000000</valUSD>
        <pctVal>1.014307760237</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>17586843.14100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>109741901.20000100</valUSD>
        <pctVal>2.736974486962</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>12163055.52600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>104967169.19000100</valUSD>
        <pctVal>2.617892171542</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>Overseas Fund</name>
        <lei>M8LPS0WBNG35BUE1BV52</lei>
        <title>Overseas Fund</title>
        <cusip>742553571</cusip>
        <identifiers>
          <ticker value="PINZX"/>
        </identifiers>
        <balance>7088952.80300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>63091679.95000000</valUSD>
        <pctVal>1.573513092761</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>4647582.63000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>70039070.23000000</valUSD>
        <pctVal>1.746781732537</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>15613027.28100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>182360158.64000100</valUSD>
        <pctVal>4.548081418113</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>16249805.23900000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>462306959.05000100</valUSD>
        <pctVal>11.52998388244</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 Multi-Factor ETF</name>
        <lei>5493008MXNTNT2RRXN18</lei>
        <title>Principal U.S. Small-Cap Multi-Factor ETF</title>
        <cusip>74255Y607</cusip>
        <identifiers>
          <isin value="US74255Y6077"/>
        </identifiers>
        <balance>1330700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>53999140.65000000</valUSD>
        <pctVal>1.346744212200</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>11095110.87600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>126373312.88000100</valUSD>
        <pctVal>3.151763632699</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>Bond Market Index Fund</name>
        <lei>VNIC77YUXCT48GBDSU43</lei>
        <title>Bond Market Index Fund</title>
        <cusip>742553316</cusip>
        <identifiers>
          <ticker value="PNIIX"/>
        </identifiers>
        <balance>42126307.03800000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>348805822.27000100</valUSD>
        <pctVal>8.699253667176</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>22886886.63400000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>196369487.32000100</valUSD>
        <pctVal>4.897475539750</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 Real Estate Securities Fund</name>
        <lei>549300RURQIM2C42MH06</lei>
        <title>Global Real Estate Securities Fund</title>
        <cusip>742537624</cusip>
        <identifiers>
          <ticker value="PGRSX"/>
        </identifiers>
        <balance>2152265.16300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18035982.07000000</valUSD>
        <pctVal>0.449819278079</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>2022-11-28</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 Controller</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
