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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Principal Active High Yield ETF</name>
        <lei>549300IJEBBJ7TDADP97</lei>
        <title>Principal Active High Yield ETF</title>
        <cusip>74255Y102</cusip>
        <identifiers>
          <isin value="US74255Y1029"/>
        </identifiers>
        <balance>2073084.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38227668.96000000</valUSD>
        <pctVal>1.552759836614</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>Inflation Protection Fund</name>
        <lei>5493006ECFME6VCZ0U45</lei>
        <title>Inflation Protection Fund</title>
        <cusip>74254T815</cusip>
        <identifiers>
          <ticker value="PIPIX"/>
        </identifiers>
        <balance>14578710.72600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>114151304.98000100</valUSD>
        <pctVal>4.636682447354</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>11462231.32000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>99377545.54000000</valUSD>
        <pctVal>4.036590918931</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>1400211.69600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25399840.17000000</valUSD>
        <pctVal>1.031709563920</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>2248082.58000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>83741076.11000000</valUSD>
        <pctVal>3.401457195691</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>61027714.19900000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>523007510.69000100</valUSD>
        <pctVal>21.24390733050</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>5023789.71700000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>65711169.50000000</valUSD>
        <pctVal>2.669105064275</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>457015.25900000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12275429.86000000</valUSD>
        <pctVal>0.498612522875</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 - Class R-6</name>
        <lei>N/A</lei>
        <title>Principal Government Money Market Fund - Class R-6</title>
        <cusip>74257B639</cusip>
        <identifiers>
          <isin value="US74257B6395"/>
        </identifiers>
        <balance>17073761.29000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17073761.29000000</valUSD>
        <pctVal>0.693514711001</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>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>1199976.29000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27851449.69000000</valUSD>
        <pctVal>1.131290859387</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 Capital Appreciation Fund</name>
        <lei>549300488LDV833BXR20</lei>
        <title>Principal Capital Appreciation Fund</title>
        <cusip>74254U432</cusip>
        <identifiers>
          <ticker value="PWCIX"/>
        </identifiers>
        <balance>1479911.83000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>97111814.28000000</valUSD>
        <pctVal>3.944559764618</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>1518623.63800000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>53865580.44000000</valUSD>
        <pctVal>2.187952134112</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>2975748.98600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51034095.11000000</valUSD>
        <pctVal>2.072940760989</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>12774096.49800000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>148562742.27000100</valUSD>
        <pctVal>6.034431752969</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>1572594.97900000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27095811.49000000</valUSD>
        <pctVal>1.100597786022</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>12015767.43800000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>106579857.18000100</valUSD>
        <pctVal>4.329139759853</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>84762698.85100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>717092432.28000100</valUSD>
        <pctVal>29.12739275706</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>2023-08-28</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 Controller</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
