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        <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>4749827.99300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>133707658.00000100</valUSD>
        <pctVal>24.75286483165</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 Income Fund</name>
        <lei>549300587LXZ3RWC6G81</lei>
        <title>High Income Fund</title>
        <cusip>74254R637</cusip>
        <identifiers>
          <ticker value="PYHIX"/>
        </identifiers>
        <balance>446360.04600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3646761.58000000</valUSD>
        <pctVal>0.675113137222</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>346483.78400000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9524839.22000000</valUSD>
        <pctVal>1.763302575802</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>482741.77500000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5044651.55000000</valUSD>
        <pctVal>0.933899971084</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 S&amp;P 400 Index Fund</name>
        <lei>549300BESRSJ6JCTJH84</lei>
        <title>MidCap S&amp;P 400 Index Fund</title>
        <cusip>74256W576</cusip>
        <identifiers>
          <ticker value="PMAPX"/>
        </identifiers>
        <balance>513531.63200000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12725313.84000000</valUSD>
        <pctVal>2.355796056363</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>3572418.04000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28150654.16000000</valUSD>
        <pctVal>5.211439253129</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>4708526.21300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31829637.20000000</valUSD>
        <pctVal>5.892517444680</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>2024-11-29</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>
