0001752724-20-164944.txt : 20200824
0001752724-20-164944.hdr.sgml : 20200824
20200824102615
ACCESSION NUMBER: 0001752724-20-164944
CONFORMED SUBMISSION TYPE: NPORT-P
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20200630
FILED AS OF DATE: 20200824
PERIOD START: 20210331
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: Principal Diversified Select Real Asset Fund
CENTRAL INDEX KEY: 0001756404
IRS NUMBER: 832104764
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0331
FILING VALUES:
FORM TYPE: NPORT-P
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-23403
FILM NUMBER: 201125220
BUSINESS ADDRESS:
STREET 1: 711 HIGH ST.
CITY: DES MOINES
STATE: IA
ZIP: 50392
BUSINESS PHONE: 5152359328
MAIL ADDRESS:
STREET 1: 711 HIGH ST.
CITY: DES MOINES
STATE: IA
ZIP: 50392
NPORT-P
1
primary_doc.xml
NPORT-P
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0001756404
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811-23403
0001756404
549300HSJTLJOEDEF407
801 Grand Ave
Des Moines
50309
515-248-0156
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549300HSJTLJOEDEF407
2021-03-31
2020-06-30
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Goodman Group
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Goodman Group
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EC
CORP
AU
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N
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Suez SA
549300JQIZM6CL7POC81
Suez SA
N/A
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NS
364477.60000000
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Long
EC
CORP
FR
N
2
N
N
N
Sabra Health Care REIT Inc
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Sabra Health Care REIT Inc
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5414.00000000
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USD
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EC
CORP
US
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N
N
N
Evraz PLC
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Evraz PLC
N/A
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Long
EC
CORP
RU
N
2
N
N
N
CyrusOne Inc
5493006S177ZK2ZNBU43
CyrusOne Inc
23283R100
2553.00000000
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USD
185730.75000000
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EC
CORP
US
N
1
N
N
N
Staples Inc
XQM2JINI1UL7642TU573
Staples Inc
855030AP7
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USD
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DBT
CORP
US
N
2
2027-04-15
Fixed
10.75000000
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N
N
N
N
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FXI Holdings Inc
549300VLKCUZW3MSVS50
FXI Holdings Inc
35166FAA0
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USD
155400.00000000
0.119201224238
Long
DBT
CORP
US
N
2
2026-11-15
Fixed
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N
N
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EOG Resources Inc
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EOG Resources Inc
26875P101
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USD
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EC
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US
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N
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Fabege AB
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Fabege AB
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EC
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SE
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N
N
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CCUBS Commercial Mortgage Trust 2017-C1
N/A
CCUBS Commercial Mortgage Trust 2017-C1
12508GAX4
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USD
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ABS-MBS
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2050-11-15
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Vonovia SE
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Vonovia SE
N/A
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EC
CORP
DE
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N
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Magellan Midstream Partners LP
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Magellan Midstream Partners LP
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USD
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EC
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US
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N
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K+S AG
529900YURAYD4IJX2J91
K+S AG
N/A
21760.00000000
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Long
EC
CORP
DE
N
2
N
N
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Independence Realty Trust Inc
549300Z3L8NU44NQEB29
Independence Realty Trust Inc
45378A106
34216.00000000
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USD
393141.84000000
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Long
EC
CORP
US
N
1
N
N
N
Healthpeak Properties Inc
PZ9HF5U52KPF0MH0QN75
Healthpeak Properties Inc
42250P103
8106.00000000
NS
USD
223401.36000000
0.171362391303
Long
EC
CORP
US
N
1
N
N
N
Gibson Energy Inc
549300WYW5D9I3FR0643
Gibson Energy Inc
N/A
27263.00000000
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424327.63000000
0.325485025574
Long
EC
CORP
CA
N
1
N
N
N
Newcrest Mining Ltd
5299006MN50OZJUJI655
Newcrest Mining Ltd
N/A
6814.00000000
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151093.68000000
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Long
EC
CORP
AU
N
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N
N
N
Neste Oyj
5493009GY1X8GQ66AM14
Neste Oyj
N/A
3424.00000000
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134480.69000000
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Long
EC
CORP
FI
N
2
N
N
N
Oji Holdings Corp
529900LVC9GIIYUGE243
Oji Holdings Corp
N/A
27500.00000000
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128297.56000000
0.098412009130
Long
EC
CORP
JP
N
2
N
N
N
SPDR S&P Global Natural Resources ETF
549300TY1RVQ2C1UO359
SPDR S&P Global Natural Resources ETF
78463X541
12737.00000000
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USD
470377.41000000
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EC
RF
US
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1
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Yara International ASA
213800WKOUWXWFJ5Z514
Yara International ASA
N/A
4043.00000000
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140948.36000000
0.108115939938
Long
EC
CORP
NO
N
2
N
N
N
Anglo American PLC
549300S9XF92D1X8ME43
Anglo American PLC
N/A
6574.00000000
NS
151551.31000000
0.116249045604
Long
EC
CORP
GB
N
2
N
N
N
Inmobiliaria Colonial Socimi SA
95980020140005007414
Inmobiliaria Colonial Socimi SA
N/A
19317.00000000
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170798.71000000
0.131012968663
Long
EC
CORP
ES
N
2
N
N
N
Nucor Corp
549300GGJCRSI2TIEJ46
Nucor Corp
670346105
3273.00000000
NS
USD
135534.93000000
0.103963510830
Long
EC
CORP
US
N
1
N
N
N
Tetra Tech Inc
549300UJ1LP7JGJC5P32
Tetra Tech Inc
88162G103
7688.00000000
NS
USD
608274.56000000
0.466583476352
Long
EC
CORP
US
N
1
N
N
N
Agnico Eagle Mines Ltd
YGE0EUBRF7IJOB3QRX76
Agnico Eagle Mines Ltd
N/A
2171.00000000
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139013.72000000
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Long
EC
CORP
CA
N
1
N
N
N
Mondi PLC
213800LOZA69QFDC9N34
Mondi PLC
N/A
7419.00000000
NS
138771.75000000
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Long
EC
CORP
GB
N
2
N
N
N
Centuria Office REIT
N/A
Centuria Office REIT
N/A
49414.00000000
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69411.21000000
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Long
EC
CORP
AU
N
2
N
N
N
Vale SA
254900SMTWBX7RU2SR20
Vale SA
91912E105
14172.00000000
NS
USD
146113.32000000
0.112077777487
Long
EC
CORP
BR
N
1
N
N
N
Freeport-McMoRan Inc
549300IRDTHJQ1PVET45
Freeport-McMoRan Inc
35671D857
15249.00000000
NS
USD
176430.93000000
0.135333222969
Long
EC
CORP
US
N
1
N
N
N
Zhongliang Holdings Group Co Ltd
549300SKDRW33OJQFH41
Zhongliang Holdings Group Co Ltd
N/A
272000.00000000
NS
193804.13000000
0.148659520968
Long
EC
CORP
CN
N
2
N
N
N
Mosaic Co/The
2YD5STGSJNMUB7H76907
Mosaic Co/The
61945C103
11440.00000000
NS
USD
143114.40000000
0.109777423977
Long
EC
CORP
US
N
1
N
N
N
Antofagasta PLC
213800MY6QVH4FVLD628
Antofagasta PLC
N/A
12766.00000000
NS
147757.74000000
0.113339147353
Long
EC
CORP
CL
N
2
N
N
N
Newmont Corp
549300VSP3RIX7FGDZ51
Newmont Corp
651639106
2366.00000000
NS
USD
146076.84000000
0.112049795115
Long
EC
CORP
US
N
1
N
N
N
Midea Real Estate Holding Ltd
300300CW5XG771ZXV614
Midea Real Estate Holding Ltd
N/A
28600.00000000
NS
70515.32000000
0.054089526844
Long
EC
CORP
CN
N
2
N
N
N
Mueller Water Products Inc - Class A
549300F7ZU4P1F8V8L60
Mueller Water Products Inc - Class A
624758108
19689.00000000
NS
USD
185667.27000000
0.142418055888
Long
EC
CORP
US
N
1
N
N
N
Hess Midstream LP
N/A
Hess Midstream LP
428103105
13730.00000000
NS
USD
251533.60000000
0.192941525464
Long
EC
CORP
US
N
1
N
N
N
Gogo Intermediate Holdings LLC / Gogo Finance Co Inc
N/A
Gogo Intermediate Holdings LLC / Gogo Finance Co Inc
38046XAE3
372000.00000000
PA
USD
316200.00000000
0.242544575960
Long
DBT
CORP
US
N
2
2024-05-01
Fixed
9.88000000
N
N
N
N
N
N
Enbridge Inc
98TPTUM4IVMFCZBCUR27
Enbridge Inc
N/A
14912.00000000
NS
453423.22000000
0.347803107607
Long
EC
CORP
CA
N
1
N
N
N
American Tower Corp
5493006ORUSIL88JOE18
American Tower Corp
03027X100
600.00000000
NS
USD
155124.00000000
0.118989515500
Long
EC
CORP
US
N
1
N
N
N
Ingenia Communities Group
N/A
Ingenia Communities Group
N/A
48452.00000000
NS
151461.46000000
0.116180125205
Long
EC
CORP
AU
N
2
N
N
N
Essential Utilities Inc
549300ILTEOF3E3QY357
Essential Utilities Inc
29670G102
18145.00000000
NS
USD
766444.80000000
0.587909642671
Long
EC
CORP
US
N
1
N
N
N
Nippon Steel Corp
35380065QWQ4U2V3PA33
Nippon Steel Corp
N/A
15000.00000000
NS
141741.84000000
0.108724587218
Long
EC
CORP
JP
N
2
N
N
N
Simon Property Group Inc
529900GQL5X8H7AO3T64
Simon Property Group Inc
828806109
371.00000000
NS
USD
25368.98000000
0.019459546162
Long
EC
CORP
US
N
1
N
N
N
York Water Co/The
N/A
York Water Co/The
987184108
3441.00000000
NS
USD
165030.36000000
0.126588294392
Long
EC
CORP
US
N
1
N
N
N
Vicinity Centres
N/A
Vicinity Centres
N/A
43210.00000000
NS
43309.47000000
0.033220989994
Long
EC
CORP
AU
N
2
N
N
N
WFRBS Commercial Mortgage Trust 2014-C20
549300UVB571ELWL8972
WFRBS Commercial Mortgage Trust 2014-C20
92890FAC0
500000.00000000
PA
USD
352463.35000000
0.270360764602
Long
ABS-MBS
CORP
US
N
2
2047-05-15
Fixed
3.99000000
N
N
N
N
N
N
Woodside Petroleum Ltd
2549005ZC5RXAOO7FH41
Woodside Petroleum Ltd
N/A
9191.00000000
NS
138900.06000000
0.106544769619
Long
EC
CORP
AU
N
2
N
N
N
Rio Tinto Ltd
529900X2VMAQT2PE0V24
Rio Tinto Ltd
N/A
2231.00000000
NS
152764.12000000
0.117179344425
Long
EC
CORP
GB
N
2
N
N
N
Eni SpA
BUCRF72VH5RBN7X3VL35
Eni SpA
N/A
15307.00000000
NS
146732.42000000
0.112552664732
Long
EC
CORP
IT
N
2
N
N
N
Healthcare Trust of America Inc
549300L0I14L7I0VLX84
Healthcare Trust of America Inc
42225P501
9053.00000000
NS
USD
240085.56000000
0.184160184517
Long
EC
CORP
US
N
1
N
N
N
Constellation Merger Sub Inc
N/A
Constellation Merger Sub Inc
210374AA2
750000.00000000
PA
USD
600000.00000000
0.460236387021
Long
DBT
CORP
US
N
2
2025-09-15
Fixed
8.50000000
N
N
N
N
N
N
Phillips 66
5493005JBO5YSIGK1814
Phillips 66
718546104
1768.00000000
NS
USD
127119.20000000
0.097508135548
Long
EC
CORP
US
N
1
N
N
N
BANK 2018-BNK13
549300664283JRAXM588
BANK 2018-BNK13
06539LAJ9
2000000.00000000
PA
USD
1148186.20000000
0.880728447192
Long
ABS-MBS
CORP
US
N
2
2061-08-15
Fixed
3.00000000
N
N
N
N
N
N
Benchmark 2018-B6 Mortgage Trust
N/A
Benchmark 2018-B6 Mortgage Trust
08162CAN0
550000.00000000
PA
USD
310571.97000000
0.238227535638
Long
ABS-MBS
CORP
US
N
2
2051-10-10
Variable
3.27000000
N
N
N
N
N
N
Apartment Investment and Management Co
549300O8FT5GJ4RU1D57
Apartment Investment and Management Co
03748R754
3586.00000000
NS
USD
134977.04000000
0.103535575367
Long
EC
CORP
US
N
1
N
N
N
Chevron Corp
N/A
Chevron Corp
166764100
1509.00000000
NS
USD
134648.07000000
0.103283235426
Long
EC
CORP
US
N
1
N
N
N
Hadrian Merger Sub Inc
N/A
Hadrian Merger Sub Inc
42239PAA7
750000.00000000
PA
USD
679035.00000000
0.520861025101
Long
DBT
CORP
US
N
2
2026-05-01
Fixed
8.50000000
N
N
N
N
N
N
Mitsui Fudosan Co Ltd
353800ND4ZKNZDYKMF33
Mitsui Fudosan Co Ltd
N/A
10000.00000000
NS
177647.29000000
0.136266244856
Long
EC
CORP
JP
N
2
N
N
N
Severn Trent PLC
213800RPBXRETY4A4C59
Severn Trent PLC
N/A
20197.00000000
NS
618102.70000000
0.474122255760
Long
EC
CORP
GB
N
2
N
N
N
Arena REIT
N/A
Arena REIT
N/A
98950.00000000
NS
150660.11000000
0.115565441157
Long
EC
CORP
AU
N
2
N
N
N
Welltower Inc
T6IZ0MBEG5ACZDTR7D06
Welltower Inc
95040Q104
7043.00000000
NS
USD
364475.25000000
0.279574620364
Long
EC
CORP
US
N
1
N
N
N
WFRBS Commercial Mortgage Trust 2014-C21
5493000F7E2NMQ4HIO61
WFRBS Commercial Mortgage Trust 2014-C21
92939FAE9
500000.00000000
PA
USD
317936.20000000
0.243876346652
Long
ABS-MBS
CORP
US
N
2
2047-08-15
Fixed
3.50000000
N
N
N
N
N
N
Bunge Ltd
5493007M0RIN8HY3MM77
Bunge Ltd
G16962105
3544.00000000
NS
USD
145764.72000000
0.111810380146
Long
EC
CORP
US
N
1
N
N
N
AusNet Services
529900PPFC4A1KRQ2S64
AusNet Services
N/A
833698.00000000
NS
963230.80000000
0.738856438765
Long
EC
CORP
AU
N
2
N
N
N
Entra ASA
549300APU14LQKTYCH34
Entra ASA
N/A
6878.00000000
NS
88166.81000000
0.067629290149
Long
EC
CORP
NO
N
2
N
N
N
New World Development Co Ltd
2549008GWMWXTIRL4S48
New World Development Co Ltd
N/A
62750.00000000
NS
297942.07000000
0.228539636397
Long
EC
CORP
HK
N
2
N
N
N
Marathon Petroleum Corp
3BNYRYQHD39K4LCKQF12
Marathon Petroleum Corp
56585A102
3936.00000000
NS
USD
147127.68000000
0.112855853123
Long
EC
CORP
US
N
1
N
N
N
Danaher Corp
S4BKK9OTCEWQ3YHPFM11
Danaher Corp
235851102
5135.00000000
NS
USD
908022.05000000
0.696507979379
Long
EC
CORP
US
N
1
N
N
N
Amcor PLC
549300GSODGFCDQ3DI89
Amcor PLC
G0250X107
13547.00000000
NS
USD
138314.87000000
0.106095893400
Long
EC
CORP
GB
N
1
N
N
N
SSE PLC
549300KI75VYLLMSK856
SSE PLC
N/A
51712.00000000
NS
875642.61000000
0.671670985246
Long
EC
CORP
GB
N
2
N
N
N
Smurfit Kappa Group PLC
635400CPLP8H5ITDVT56
Smurfit Kappa Group PLC
N/A
4250.00000000
NS
142823.67000000
0.109554416436
Long
EC
CORP
IE
N
2
N
N
N
Taubman Centers Inc
N/A
Taubman Centers Inc
876664103
804.00000000
NS
USD
30359.04000000
0.023287224805
Long
EC
CORP
US
N
1
N
N
N
Freddie Mac STACR Trust 2019-DNA2
549300Y6KOVOWQ8OJC33
Freddie Mac STACR Trust 2019-DNA2
35564LBE6
900000.00000000
PA
USD
850405.05000000
0.652312246194
Long
ABS-MBS
CORP
US
N
2
2049-03-25
Floating
10.68000000
N
N
N
N
N
N
thyssenkrupp AG
549300UDG16DOYUPR330
thyssenkrupp AG
N/A
20518.00000000
NS
146380.42000000
0.112282659385
Long
EC
CORP
DE
N
2
N
N
N
Badger Meter Inc
5493002JENE20OGTUG20
Badger Meter Inc
056525108
3666.00000000
NS
USD
230664.72000000
0.176933828910
Long
EC
CORP
US
N
1
N
N
N
Stora Enso Oyj
7437000ZP669LKUTZ738
Stora Enso Oyj
N/A
11279.00000000
NS
135001.53000000
0.103554360682
Long
EC
CORP
FI
N
2
N
N
N
Dexus
N/A
Dexus
N/A
13775.00000000
NS
88412.11000000
0.067817450125
Long
EC
CORP
AU
N
2
N
N
N
GS Mortgage Securities Trust 2019-GC40
5493005BBCF84ICNQ550
GS Mortgage Securities Trust 2019-GC40
36257HAA4
2000000.00000000
PA
USD
1341757.40000000
1.029209296724
Long
ABS-MBS
CORP
US
N
2
2052-07-10
Fixed
3.00000000
N
N
N
N
N
N
Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25
N/A
Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25
61765TAR4
500000.00000000
PA
USD
295039.00000000
0.226312805650
Long
ABS-MBS
CORP
US
N
2
2048-10-15
Variable
4.68000000
N
N
N
N
N
N
ICL Group Ltd
529900FQVQD88SHIGM04
ICL Group Ltd
N/A
39948.00000000
NS
118993.35000000
0.091275115805
Long
EC
CORP
IL
N
2
N
N
N
Dream Industrial Real Estate Investment Trust
N/A
Dream Industrial Real Estate Investment Trust
N/A
39800.00000000
NS
313099.59000000
0.240166373465
Long
EC
CORP
CA
N
1
N
N
N
DS Smith PLC
39RSBE4RCI4M15BLWH36
DS Smith PLC
N/A
32992.00000000
NS
133929.56000000
0.102732094682
Long
EC
CORP
GB
N
2
N
N
N
Citigroup Commercial Mortgage Trust 2018-C6
N/A
Citigroup Commercial Mortgage Trust 2018-C6
17327GBC7
1000000.00000000
PA
USD
932598.40000000
0.715359530262
Long
ABS-MBS
CORP
US
N
2
2051-11-10
Variable
5.24000000
N
N
N
N
N
N
Benchmark 2018-B6 Mortgage Trust
N/A
Benchmark 2018-B6 Mortgage Trust
08162CAL4
1000000.00000000
PA
USD
643404.20000000
0.493530040670
Long
ABS-MBS
CORP
US
N
2
2051-10-10
Variable
3.27000000
N
N
N
N
N
N
Equinix Inc
549300EVUN2BTLJ3GT74
Equinix Inc
29444U700
447.00000000
NS
USD
313928.10000000
0.240801890880
Long
EC
CORP
US
N
1
N
N
N
Korea Zinc Co Ltd
988400D0HSQUB1I1VO41
Korea Zinc Co Ltd
N/A
453.00000000
NS
126928.67000000
0.097361987483
Long
EC
CORP
KR
N
2
N
N
N
Eutelsat Communications SA
549300EFWH9UR17YSK05
Eutelsat Communications SA
N/A
9506.00000000
NS
87933.22000000
0.067450112453
Long
EC
CORP
FR
N
2
N
N
N
Edison International
549300I7ROF15MAEVP56
Edison International
281020107
13556.00000000
NS
USD
736226.36000000
0.564730266593
Long
EC
CORP
US
N
1
N
N
N
Alexandria Real Estate Equities Inc
MGCJBT4MKTQBVLNUIS88
Alexandria Real Estate Equities Inc
015271109
755.00000000
NS
USD
122498.75000000
0.093963970191
Long
EC
CORP
US
N
1
N
N
N
Daiwa Office Investment Corp
N/A
Daiwa Office Investment Corp
N/A
16.00000000
NS
88368.06000000
0.067783661104
Long
EC
CORP
JP
N
2
N
N
N
Equinor ASA
OW6OFBNCKXC4US5C7523
Equinor ASA
N/A
9525.00000000
NS
137214.01000000
0.105251467018
Long
EC
CORP
NO
N
2
N
N
N
Halliburton Co
ENYF8GB5SMQZ25S06U51
Halliburton Co
406216101
11771.00000000
NS
USD
152787.58000000
0.117197339668
Long
EC
CORP
US
N
1
N
N
N
Red Electrica Corp SA
5493009HMD0C90GUV498
Red Electrica Corp SA
N/A
90151.00000000
NS
1686676.11000000
1.293782864902
Long
EC
CORP
ES
N
2
N
N
N
BP PLC
213800LH1BZH3DI6G760
BP PLC
N/A
36590.00000000
NS
140177.41000000
0.107524574533
Long
EC
CORP
GB
N
2
N
N
N
WPT Industrial Real Estate Investment Trust
N/A
WPT Industrial Real Estate Investment Trust
92937G109
32821.00000000
NS
USD
417811.33000000
0.320486628292
Long
EC
CORP
CA
N
1
N
N
N
Kurita Water Industries Ltd
52990086GS2ON69UMX34
Kurita Water Industries Ltd
N/A
11600.00000000
NS
322690.32000000
0.247523045005
Long
EC
CORP
JP
N
2
N
N
N
Nutrien Ltd
5493002QQ7GD21OWF963
Nutrien Ltd
N/A
4067.00000000
NS
130673.64000000
0.100234606587
Long
EC
CORP
CA
N
1
N
N
N
COMM 2015-CCRE25 Mortgage Trust
N/A
COMM 2015-CCRE25 Mortgage Trust
12593PAE2
500000.00000000
PA
USD
313539.80000000
0.240504041232
Long
ABS-MBS
CORP
US
N
2
2048-08-10
Variable
4.69000000
N
N
N
N
N
N
Summit Industrial Income REIT
2549002JNRHTJ9H0MR86
Summit Industrial Income REIT
N/A
25730.00000000
NS
217006.85000000
0.166457414338
Long
EC
CORP
CA
N
1
N
N
N
Valero Energy Corp
549300XTO5VR8SKV1V74
Valero Energy Corp
91913Y100
2076.00000000
NS
USD
122110.32000000
0.093666020824
Long
EC
CORP
US
N
1
N
N
N
Rayonier Inc
HGV8VDVNL0W6SF2U9C50
Rayonier Inc
754907103
5823.00000000
NS
USD
144352.17000000
0.110726868632
Long
EC
CORP
US
N
1
N
N
N
American Homes 4 Rent
549300ZJUO7A58PNUW40
American Homes 4 Rent
02665T306
10087.00000000
NS
USD
271340.30000000
0.208134465542
Long
EC
CORP
US
N
1
N
N
N
AvalonBay Communities Inc
K9G90K85RBWD2LAGQX17
AvalonBay Communities Inc
053484101
780.00000000
NS
USD
120619.20000000
0.092522241355
Long
EC
CORP
US
N
1
N
N
N
Imperial Oil Ltd
549300JZNB745JT5WY51
Imperial Oil Ltd
N/A
8887.00000000
NS
142967.06000000
0.109664405262
Long
EC
CORP
CA
N
1
N
N
N
Essential Properties Realty Trust Inc
N/A
Essential Properties Realty Trust Inc
29670E107
6899.00000000
NS
USD
102381.16000000
0.078532558629
Long
EC
CORP
US
N
1
N
N
N
Westrock Co
549300JEB576INN13W07
Westrock Co
96145D105
4929.00000000
NS
USD
139293.54000000
0.106846592641
Long
EC
CORP
US
N
1
N
N
N
Sociedad Quimica y Minera de Chile SA
TJ88LXZZW5PWIN93ZC81
Sociedad Quimica y Minera de Chile SA
833635105
5675.00000000
NS
USD
147947.25000000
0.113484513016
Long
EC
CORP
CL
N
1
N
N
N
Gecina SA
9695003E4MMA10IBTR26
Gecina SA
N/A
1527.00000000
NS
188594.54000000
0.144663449502
Long
EC
CORP
FR
N
2
N
N
N
Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25
N/A
Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25
61765TAP8
1000000.00000000
PA
USD
602590.60000000
0.462223534328
Long
ABS-MBS
CORP
US
N
2
2048-10-15
Variable
4.68000000
N
N
N
N
N
N
GC EOS Buyer Inc
254900PTY5ALGN8N1L56
GC EOS Buyer Inc
N/A
700000.00000000
PA
USD
511000.00000000
0.391967989613
Long
LON
CORP
US
N
2
2026-06-29
Floating
9.57600000
N
N
N
N
N
N
Kirkland Lake Gold Ltd
N/A
Kirkland Lake Gold Ltd
N/A
3604.00000000
NS
148396.88000000
0.113829406494
Long
EC
CORP
CA
N
1
N
N
N
Targa Resources Corp
5493003QENHHS261UR94
Targa Resources Corp
87612G606
2000.00000000
NS
USD
1994200.00000000
1.529672338329
Long
EP
CORP
US
Y
3
N
N
N
Veolia Environnement SA
969500LENY69X51OOT31
Veolia Environnement SA
N/A
25793.00000000
NS
582433.25000000
0.446761624435
Long
EC
CORP
FR
N
2
N
N
N
Freddie Mac STACR Remic Trust 2020-DNA2
5493007ZK0X40BI7UF30
Freddie Mac STACR Remic Trust 2020-DNA2
35565KBE7
500000.00000000
PA
USD
288529.05000000
0.221319279204
Long
ABS-MBS
CORP
US
N
2
2050-02-25
Floating
4.98000000
N
N
N
N
N
N
CoreSite Realty Corp
549300H0YYORITFM2B74
CoreSite Realty Corp
21870Q105
2300.00000000
NS
USD
278438.00000000
0.213578831882
Long
EC
CORP
US
N
1
N
N
N
CubeSmart
N/A
CubeSmart
229663109
12403.00000000
NS
USD
334756.97000000
0.256778897338
Long
EC
CORP
US
N
1
N
N
N
Freddie Mac STACR Trust 2019-HQA2
549300NKHCH87PYOHD44
Freddie Mac STACR Trust 2019-HQA2
35564MBE4
900000.00000000
PA
USD
868954.41000000
0.666540730240
Long
ABS-MBS
CORP
US
N
2
2049-04-25
Floating
11.43000000
N
N
N
N
N
N
Enviva Partners LP
N/A
Enviva Partners LP
N/A
30769.00000000
NS
USD
1108914.76000000
0.850604871094
Long
EC
CORP
US
N
2
N
N
N
Big Yellow Group PLC
213800W7Q4V2ZI8LIW31
Big Yellow Group PLC
N/A
21201.00000000
NS
263897.02000000
0.202425018384
Long
EC
CORP
GB
N
2
N
N
N
Link REIT
529900XUE70U36QX5M62
Link REIT
N/A
31100.00000000
NS
255336.18000000
0.195858334931
Long
EC
CORP
HK
N
2
N
N
N
BANK 2019-BNK22
N/A
BANK 2019-BNK22
06540XAQ4
1000000.00000000
PA
USD
378135.40000000
0.290052783834
Long
ABS-MBS
CORP
US
N
2
2062-11-15
Variable
1.96000000
N
N
N
N
N
N
Franco-Nevada Corp
N/A
Franco-Nevada Corp
N/A
990.00000000
NS
138298.10000000
0.106083029793
Long
EC
CORP
CA
N
1
N
N
N
Stantec Inc
549300MZ7NGUZDCP2T16
Stantec Inc
N/A
6774.00000000
NS
209117.81000000
0.160406042226
Long
EC
CORP
CA
N
1
N
N
N
Sunnova Energy International Inc
N/A
Sunnova Energy International Inc
86745KAD6
1777000.00000000
PA
USD
2285417.47000000
1.753053798713
Long
DBT
CORP
US
Y
3
2025-04-30
Fixed
9.75000000
N
N
N
N
N
Sunnova Energy International Inc
Sunnova Energy International Inc
USD
XXXX
N
N
N
Centuria Industrial REIT
N/A
Centuria Industrial REIT
N/A
38593.00000000
NS
84870.70000000
0.065100973886
Long
EC
CORP
AU
N
2
N
N
N
Suncor Energy Inc
549300W70ZOQDVLCHY06
Suncor Energy Inc
N/A
8076.00000000
NS
136166.50000000
0.104447963322
Long
EC
CORP
CA
N
1
N
N
N
CNOOC Ltd
549300XIVJCBIGMRUD48
CNOOC Ltd
N/A
124000.00000000
NS
139168.69000000
0.106750825120
Long
EC
CORP
CN
N
2
N
N
N
TOTAL SA
529900S21EQ1BO4ESM68
TOTAL SA
N/A
3697.00000000
NS
142549.82000000
0.109344356878
Long
EC
CORP
FR
N
2
N
N
N
Csail 2015-C2 Commercial Mortgage Trust
549300D5DIOOMKWXVZ20
Csail 2015-C2 Commercial Mortgage Trust
12634NBA5
500000.00000000
PA
USD
284706.05000000
0.218386806358
Long
ABS-MBS
CORP
US
N
2
2057-06-15
Variable
4.33000000
N
N
N
N
N
N
Gazprom PJSC
213800FD9J2IHTA7YX78
Gazprom PJSC
368287207
24903.00000000
NS
USD
134474.53000000
0.103150119722
Long
EC
CORP
RU
N
2
N
N
N
Archer-Daniels-Midland Co
549300LO13MQ9HYSTR83
Archer-Daniels-Midland Co
039483102
3519.00000000
NS
USD
140408.10000000
0.107701527754
Long
EC
CORP
US
N
1
N
N
N
Enagas SA
213800OU3FQKGM4M2U23
Enagas SA
N/A
12039.00000000
NS
294515.29000000
0.225911088320
Long
EC
CORP
ES
N
2
N
N
N
GS Mortgage Securities Trust 2013-GCJ14
549300ITVQSU1IHX4H03
GS Mortgage Securities Trust 2013-GCJ14
36198FAV4
539000.00000000
PA
USD
407692.81000000
0.312725109814
Long
ABS-MBS
CORP
US
N
2
2046-08-10
Variable
4.90000000
N
N
N
N
N
N
Novatek PJSC
2138008R6GCRVBDFA581
Novatek PJSC
N/A
956.00000000
NS
USD
135505.82000000
0.103941181695
Long
EC
CORP
RU
N
2
N
N
N
NewRiver REIT PLC
2138004GX1VAUMH66L31
NewRiver REIT PLC
N/A
45105.00000000
NS
35133.49000000
0.026949517501
Long
EC
CORP
GB
N
2
N
N
N
Sun Communities Inc
549300H5GEOJYN41ZG57
Sun Communities Inc
866674104
2457.00000000
NS
USD
333365.76000000
0.255711754898
Long
EC
CORP
US
N
1
N
N
N
Oaktree CLO 2019-4 Ltd
N/A
Oaktree CLO 2019-4 Ltd
67400JAA1
500000.00000000
PA
USD
387928.00000000
0.297564301907
Long
ABS-O
CORP
KY
N
2
2032-10-20
Floating
8.37000000
N
N
N
N
N
N
Kinder Morgan Inc
549300WR7IX8XE0TBO16
Kinder Morgan Inc
49456B101
25785.00000000
NS
USD
391158.45000000
0.300042252968
Long
EC
CORP
US
N
1
N
N
N
ArcelorMittal SA
2EULGUTUI56JI9SAL165
ArcelorMittal SA
N/A
14449.00000000
NS
153041.15000000
0.117391843235
Long
EC
CORP
LU
N
2
N
N
N
Packaging Corp of America
549300XZP8MFZFY8TJ84
Packaging Corp of America
695156109
1364.00000000
NS
USD
136127.20000000
0.104417817838
Long
EC
CORP
US
N
1
N
N
N
Freddie Mac Multifamily Structured Pass Through Certificates
N/A
Freddie Mac Multifamily Structured Pass Through Certificates
3137FTFU6
11999979.96000000
PA
USD
974776.37000000
0.747712591137
Long
ABS-MBS
CORP
US
N
2
2027-01-25
Variable
1.63000000
N
N
N
N
N
N
FMC Corp
CKDHZ2X64EEBQCSP7013
FMC Corp
302491303
1406.00000000
NS
USD
140065.72000000
0.107438901530
Long
EC
CORP
US
N
1
N
N
N
MGM Growth Properties LLC
549300E2UGIBHWE12262
MGM Growth Properties LLC
55303A105
3891.00000000
NS
USD
105874.11000000
0.081211863109
Long
EC
CORP
US
N
1
N
N
N
Southern Copper Corp
2549007U6NAP46Q9TU15
Southern Copper Corp
84265V105
3811.00000000
NS
USD
151563.47000000
0.116258373061
Long
EC
CORP
PE
N
1
N
N
N
STORE Capital Corp
5493004EA6C9IHDZ7N66
STORE Capital Corp
862121100
9783.00000000
NS
USD
232933.23000000
0.178673913653
Long
EC
CORP
US
N
1
N
N
N
United Urban Investment Corp
353800GYZWBD7BDCN841
United Urban Investment Corp
N/A
146.00000000
NS
157249.26000000
0.120619718806
Long
EC
CORP
JP
N
2
N
N
N
AIMS APAC REIT
549300MGNQOBQ3KVN734
AIMS APAC REIT
N/A
152700.00000000
NS
134767.72000000
0.103375014233
Long
EC
CORP
SG
N
2
N
N
N
UNITE Group PLC/The
213800BBUUWVDH9YI827
UNITE Group PLC/The
N/A
10047.00000000
NS
116991.82000000
0.089739820913
Long
EC
CORP
GB
N
2
N
N
N
Sealed Air Corp
Q0M0CZB4YN6JZ65WXI09
Sealed Air Corp
81211K100
4309.00000000
NS
USD
141550.65000000
0.108577932894
Long
EC
CORP
US
N
1
N
N
N
Norsk Hydro ASA
549300N1SDN71ZZ8BO45
Norsk Hydro ASA
N/A
54473.00000000
NS
151973.40000000
0.116572814232
Long
EC
CORP
NO
N
2
N
N
N
China Merchants Port Holdings Co Ltd
529900GA4UH90FUOR048
China Merchants Port Holdings Co Ltd
N/A
108000.00000000
NS
128102.81000000
0.098262624069
Long
EC
CORP
HK
N
2
N
N
N
IDEX Corp
549300U5Y5EL6PHYLF13
IDEX Corp
45167R104
1725.00000000
NS
USD
272619.00000000
0.209115305988
Long
EC
CORP
US
N
1
N
N
N
Industrial & Infrastructure Fund Investment Corp
353800WCHFY04YKYCI19
Industrial & Infrastructure Fund Investment Corp
N/A
81.00000000
NS
130772.83000000
0.100310691332
Long
EC
CORP
JP
N
2
N
N
N
Sabana Shari'ah Compliant Industrial Real Estate Investment Trust
5493005OCDJ0XQ8KGS87
Sabana Shari'ah Compliant Industrial Real Estate Investment Trust
N/A
720000.00000000
NS
181770.03000000
0.139428636459
Long
EC
CORP
SG
N
2
N
N
N
Royal Dutch Shell PLC - A Shares
21380068P1DRHMJ8KU70
Royal Dutch Shell PLC - A Shares
N/A
8884.00000000
NS
142243.58000000
0.109109452226
Long
EC
CORP
NL
N
2
N
N
N
Phillips 66 Partners LP
549300TL5L4IG0H4FX64
Phillips 66 Partners LP
718549207
9816.00000000
NS
USD
353768.64000000
0.271362001191
Long
EC
CORP
US
N
1
N
N
N
Evoqua Water Technologies Corp
529900YQAOMEZRGRRP43
Evoqua Water Technologies Corp
30057T105
23385.00000000
NS
USD
434961.00000000
0.333641465225
Long
EC
CORP
US
N
1
N
N
N
Rexford Industrial Realty Inc
549300MSLO0DF0EMX355
Rexford Industrial Realty Inc
76169C100
3655.00000000
NS
USD
151426.65000000
0.116153423824
Long
EC
CORP
US
N
1
N
N
N
NextEra Energy Partners LP
5493008F4ZOQFNG3WN54
NextEra Energy Partners LP
65341B106
29882.00000000
NS
USD
1532348.96000000
1.175404581676
Long
EC
CORP
US
N
1
N
N
N
Avery Dennison Corp
549300PW7VPFCYKLIV37
Avery Dennison Corp
053611109
1250.00000000
NS
USD
142612.50000000
0.109392436240
Long
EC
CORP
US
N
1
N
N
N
Lendlease Global Commercial REIT
N/A
Lendlease Global Commercial REIT
N/A
55500.00000000
NS
27320.97000000
0.020956840871
Long
EC
CORP
SG
N
2
N
N
N
Xylem Inc/NY
549300DF5MV96DRYLQ48
Xylem Inc/NY
98419M100
11436.00000000
NS
USD
742882.56000000
0.569835975659
Long
EC
CORP
US
N
1
N
N
N
TerraForm Power Inc
549300V0USOOV31S6Z05
TerraForm Power Inc
88104R209
65380.00000000
NS
USD
1205607.20000000
0.924773836491
Long
EC
CORP
US
N
1
N
N
N
Ceres Farmland Holdings, LP
N/A
Ceres Farmland Holdings, LP
N/A
6000000.00000000
NS
USD
6121256.88000000
4.695375250799
Long
PF
US
Y
N/A
N
N
N
Advanced Drainage Systems Inc
6QQTOZ5MF5DHM7K92I60
Advanced Drainage Systems Inc
00790R104
6789.00000000
NS
USD
335376.60000000
0.257254191125
Long
EC
CORP
US
N
1
N
N
N
Wheaton Precious Metals Corp
549300XSFG5ZCGVYD886
Wheaton Precious Metals Corp
N/A
3223.00000000
NS
141754.07000000
0.108733968370
Long
EC
CORP
CA
N
1
N
N
N
Teck Resources Ltd
T8KI5SQ2JRWHL7XY0E11
Teck Resources Ltd
N/A
14616.00000000
NS
153093.34000000
0.117431876131
Long
EC
CORP
CA
N
1
N
N
N
Terreno Realty Corp
N/A
Terreno Realty Corp
88146M101
1800.00000000
NS
USD
94752.00000000
0.072680530238
Long
EC
CORP
US
N
1
N
N
N
Kronos Acquisition Holdings Inc
N/A
Kronos Acquisition Holdings Inc
50106GAA0
683000.00000000
PA
USD
650557.50000000
0.499017055582
Long
DBT
CORP
US
N
2
2023-08-15
Fixed
9.00000000
N
N
N
N
N
N
Duke Energy Corp
I1BZKREC126H0VB1BL91
Duke Energy Corp
26441C204
11523.00000000
NS
USD
920572.47000000
0.706134912639
Long
EC
CORP
US
N
1
N
N
N
American States Water Co
529900L26LIS2V8PWM23
American States Water Co
029899101
3707.00000000
NS
USD
291481.41000000
0.223583918370
Long
EC
CORP
US
N
1
N
N
N
Mitsubishi Estate Co Ltd
353800KOFMRGOXSJ5Z65
Mitsubishi Estate Co Ltd
N/A
20300.00000000
NS
302506.90000000
0.232041137841
Long
EC
CORP
JP
N
2
N
N
N
Repsol SA - Rights
BSYCX13Y0NOTV14V9N85
Repsol SA - Rights
N/A
14855.00000000
NS
7231.56000000
0.005547045078
Long
EC
CORP
ES
N
2
N
N
N
Aena SME SA
959800R7QMXKF0NFMT29
Aena SME SA
N/A
1828.00000000
NS
244478.55000000
0.187529874260
Long
EC
CORP
ES
N
2
N
N
N
Prologis Inc
529900DFH19P073LZ636
Prologis Inc
74340W103
11107.00000000
NS
USD
1036616.31000000
0.795147575402
Long
EC
CORP
US
N
1
N
N
N
Wilmar International Ltd
549300H2EAI4YRLWBB20
Wilmar International Ltd
N/A
49100.00000000
NS
145226.54000000
0.111397563448
Long
EC
CORP
SG
N
2
N
N
N
Guangdong Investment Ltd
N/A
Guangdong Investment Ltd
N/A
180000.00000000
NS
310479.97000000
0.238156966058
Long
EC
CORP
HK
N
2
N
N
N
Dominion Energy Inc
ILUL7B6Z54MRYCF6H308
Dominion Energy Inc
25746U109
15130.00000000
NS
USD
1228253.40000000
0.942144845270
Long
EC
CORP
US
N
1
N
N
N
Terna Rete Elettrica Nazionale SpA
8156009E94ED54DE7C31
Terna Rete Elettrica Nazionale SpA
N/A
148495.00000000
NS
1024247.46000000
0.785659917343
Long
EC
CORP
IT
N
2
N
N
N
POSCO
988400E5HRVX81AYLM04
POSCO
N/A
946.00000000
NS
137791.13000000
0.105694153057
Long
EC
CORP
KR
N
2
N
N
N
Sun Hung Kai Properties Ltd
529900LUMD393RD3S874
Sun Hung Kai Properties Ltd
N/A
20500.00000000
NS
261892.42000000
0.200887368615
Long
EC
CORP
HK
N
2
N
N
N
Benchmark 2019-B12 Mortgage Trust
N/A
Benchmark 2019-B12 Mortgage Trust
08162FAN3
2391000.00000000
PA
USD
1814384.29000000
1.391742783829
Long
ABS-MBS
CORP
US
N
2
2052-08-15
Fixed
3.00000000
N
N
N
N
N
N
FXI Holdings Inc
549300VLKCUZW3MSVS50
FXI Holdings Inc
36120RAA7
688000.00000000
PA
USD
591680.00000000
0.453854442454
Long
DBT
CORP
US
N
2
2024-11-01
Fixed
7.88000000
N
N
N
N
N
N
GS Mortgage Securities Trust 2019-GC40
N/A
GS Mortgage Securities Trust 2019-GC40
36257HAC0
9860000.00000000
PA
USD
877063.76000000
0.672761093482
Long
ABS-MBS
CORP
US
N
2
2052-07-10
Variable
1.30000000
N
N
N
N
N
N
Barrick Gold Corp
0O4KBQCJZX82UKGCBV73
Barrick Gold Corp
N/A
5774.00000000
NS
155365.51000000
0.119174768316
Long
EC
CORP
CA
N
1
N
N
N
Sydney Airport
N/A
Sydney Airport
N/A
91147.00000000
NS
359718.70000000
0.275926058053
Long
EC
CORP
AU
N
2
N
N
N
Cheniere Energy Inc
MIHC87W9WTYSYZWV1J40
Cheniere Energy Inc
16411R208
8562.00000000
NS
USD
413715.84000000
0.317345139091
Long
EC
CORP
US
N
1
N
N
N
MPLX LP
5493000CZJ19CK4P3G36
MPLX LP
55336V100
27006.00000000
NS
USD
466663.68000000
0.357959343395
Long
EC
CORP
US
N
1
N
N
N
Plains All American Pipeline LP
5521FA2ITF25TVH63740
Plains All American Pipeline LP
726503105
24013.00000000
NS
USD
212274.92000000
0.162827737060
Long
EC
CORP
US
N
1
N
N
N
Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class
N/A
Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class
N/A
8353680.53000000
NS
USD
8353680.53000000
6.407779575760
Long
STIV
RF
US
N
1
N
N
N
JPMCC Commercial Mortgage Securities Trust 2019-COR4
N/A
JPMCC Commercial Mortgage Securities Trust 2019-COR4
48128YAC5
2000000.00000000
PA
USD
1255508.60000000
0.963051236563
Long
ABS-MBS
CORP
US
N
2
2052-03-10
Fixed
3.00000000
N
N
N
N
N
N
MMC Norilsk Nickel PJSC
253400JPTEEW143W3E47
MMC Norilsk Nickel PJSC
55315J102
4415.00000000
NS
USD
116246.95000000
0.089168460450
Long
EC
CORP
RU
N
1
N
N
N
Csail 2015-C2 Commercial Mortgage Trust
549300D5DIOOMKWXVZ20
Csail 2015-C2 Commercial Mortgage Trust
12634NAG3
500000.00000000
PA
USD
242895.70000000
0.186315732318
Long
ABS-MBS
CORP
US
N
2
2057-06-15
Fixed
3.23000000
N
N
N
N
N
N
MCUBS MidCity Investment Corp
353800WZPKHG2SQS1P32
MCUBS MidCity Investment Corp
N/A
198.00000000
NS
144262.02000000
0.110657718115
Long
EC
CORP
JP
N
2
N
N
N
Ecolab Inc
82DYEISM090VG8LTLS26
Ecolab Inc
278865100
1691.00000000
NS
USD
336424.45000000
0.258057955622
Long
EC
CORP
US
N
1
N
N
N
Aguas Andinas SA
N/A
Aguas Andinas SA
N/A
2407131.00000000
NS
815271.30000000
0.625362529256
Long
EC
CORP
CL
N
2
N
N
N
Acrisure LLC / Acrisure Finance Inc
N/A
Acrisure LLC / Acrisure Finance Inc
00489LAD5
700000.00000000
PA
USD
752500.00000000
0.577213135389
Long
DBT
CORP
US
N
2
2026-08-01
Fixed
10.13000000
N
N
N
N
N
N
Crown Castle International Corp
54930012H97VSM0I2R19
Crown Castle International Corp
22822V101
5190.00000000
NS
USD
868546.50000000
0.666227838533
Long
EC
CORP
US
N
1
N
N
N
Snam SpA
8156002278562044AF79
Snam SpA
N/A
235783.00000000
NS
1149472.86000000
0.881715393442
Long
EC
CORP
IT
N
2
N
N
N
ConocoPhillips
WPTL2Z3FIYTHSP5V2253
ConocoPhillips
20825C104
3279.00000000
NS
USD
137783.58000000
0.105688361750
Long
EC
CORP
US
N
1
N
N
N
Italgas SpA
815600F25FF44EF1FA76
Italgas SpA
N/A
104886.00000000
NS
610395.56000000
0.468210411980
Long
EC
CORP
IT
N
2
N
N
N
SJW Group
N/A
SJW Group
784305104
2842.00000000
NS
USD
176516.62000000
0.135398952396
Long
EC
CORP
US
N
1
N
N
N
Sumitomo Metal Mining Co Ltd
353800CF81IXL9974H84
Sumitomo Metal Mining Co Ltd
N/A
5000.00000000
NS
140848.93000000
0.108039671098
Long
EC
CORP
JP
N
2
N
N
N
Physicians Realty Trust
549300ITOVH0OY7PZC34
Physicians Realty Trust
71943U104
7604.00000000
NS
USD
133222.08000000
0.102189414617
Long
EC
CORP
US
N
1
N
N
N
Weyerhaeuser Co
08IRJODWFYBI7QWRGS31
Weyerhaeuser Co
962166104
13254.00000000
NS
USD
297684.84000000
0.228342325387
Long
EC
CORP
US
N
1
N
N
N
Novolipetsk Steel PJSC
213800913TPW32I84456
Novolipetsk Steel PJSC
N/A
7197.00000000
NS
USD
143247.31000000
0.109879374008
Long
EC
CORP
RU
N
2
N
N
N
APX Group Inc
549300OMQVKPRU98OE64
APX Group Inc
00213MAV6
750000.00000000
PA
USD
707812.50000000
0.542935112814
Long
DBT
CORP
US
N
2
2027-02-15
Fixed
6.75000000
N
N
N
N
N
N
Sekisui House Reit Inc
N/A
Sekisui House Reit Inc
N/A
329.00000000
NS
211158.69000000
0.161971520956
Long
EC
CORP
JP
N
2
N
N
N
Middlesex Water Co
N/A
Middlesex Water Co
596680108
1438.00000000
NS
USD
96604.84000000
0.074101770883
Long
EC
CORP
US
N
1
N
N
N
ONEOK Inc
2T3D6M0JSY48PSZI1Q41
ONEOK Inc
682680103
8357.00000000
NS
USD
277619.54000000
0.212951023426
Long
EC
CORP
US
N
1
N
N
N
Consolidated Communications Inc
549300WW675Y48HDVX34
Consolidated Communications Inc
20903XAE3
417000.00000000
PA
USD
383556.60000000
0.294211173003
Long
DBT
CORP
US
N
2
2022-10-01
Fixed
6.50000000
N
N
N
N
N
N
LUKOIL PJSC
549300LCJ1UJXHYBWI24
LUKOIL PJSC
69343P105
1863.00000000
NS
USD
138484.55000000
0.106226048250
Long
EC
CORP
RU
N
2
N
N
N
CenterPoint Energy Inc
21TPXMRRHFKOBHDC8J74
CenterPoint Energy Inc
15189T107
12844.00000000
NS
USD
239797.48000000
0.183939209686
Long
EC
CORP
US
N
1
N
N
N
BTG Pactual Open Ended Core US Timberland Fund, LP
N/A
BTG Pactual Open Ended Core US Timberland Fund, LP
N/A
6905.24980000
NS
USD
7912389.46000000
6.069282562958
Long
PF
US
Y
N/A
N
N
N
Cia de Transmissao de Energia Eletrica Paulista
N/A
Cia de Transmissao de Energia Eletrica Paulista
N/A
71100.00000000
NS
273909.09000000
0.210104883256
Long
EP
CORP
BR
N
1
N
N
N
Watts Water Technologies Inc
549300REJOO94ERQN318
Watts Water Technologies Inc
942749102
2429.00000000
NS
USD
196749.00000000
0.150918414850
Long
EC
CORP
US
N
1
N
N
N
LEG Immobilien AG
391200SO40AKONBO0Z96
LEG Immobilien AG
N/A
1574.00000000
NS
199638.50000000
0.153134836583
Long
EC
CORP
DE
N
2
N
N
N
Nine Dragons Paper Holdings Ltd
529900TBMYEYJ2LEV906
Nine Dragons Paper Holdings Ltd
N/A
158000.00000000
NS
144459.17000000
0.110808944121
Long
EC
CORP
HK
N
2
N
N
N
GS Mortgage Securities Trust 2019-GC42
N/A
GS Mortgage Securities Trust 2019-GC42
36257UAA5
1500000.00000000
PA
USD
1063611.15000000
0.815854254785
Long
ABS-MBS
CORP
US
N
2
2052-09-01
Fixed
2.80000000
N
N
N
N
N
N
Park Hotels & Resorts Inc
5493005UZ5TQN0H6HS73
Park Hotels & Resorts Inc
700517105
8893.00000000
NS
USD
87951.77000000
0.067464341428
Long
EC
CORP
US
N
1
N
N
N
BHP Group Ltd
WZE1WSENV6JSZFK0JC28
BHP Group Ltd
N/A
6016.00000000
NS
149785.26000000
0.114894378152
Long
EC
CORP
AU
N
2
N
N
N
JPMBB Commercial Mortgage Securities Trust 2014-C21
N/A
JPMBB Commercial Mortgage Securities Trust 2014-C21
46642EAJ5
1000000.00000000
PA
USD
820387.50000000
0.629286964928
Long
ABS-MBS
CORP
US
N
2
2047-08-15
Variable
4.81000000
N
N
N
N
N
N
Rosneft Oil Co PJSC
253400JT3MQWNDKMJE44
Rosneft Oil Co PJSC
N/A
26577.00000000
NS
USD
133568.37000000
0.102455040048
Long
EC
CORP
RU
N
2
N
N
N
Energy Transfer LP
MTLVN9N7JE8MIBIJ1H73
Energy Transfer LP
29273V100
58775.00000000
NS
USD
418478.00000000
0.320998004613
Long
EC
CORP
US
N
1
N
N
N
Freddie Mac STACR Trust 2019-DNA3
549300KB1O80CETXGJ21
Freddie Mac STACR Trust 2019-DNA3
35564TBE9
250000.00000000
PA
USD
202875.30000000
0.155617658479
Long
ABS-MBS
CORP
US
N
2
2049-07-25
Floating
8.33000000
N
N
N
N
N
N
Essex Property Trust Inc
549300TR2H2VEFX0NC60
Essex Property Trust Inc
297178105
546.00000000
NS
USD
125126.82000000
0.095979859260
Long
EC
CORP
US
N
1
N
N
N
China Water Affairs Group Ltd
529900XTSVH0DH4CEX74
China Water Affairs Group Ltd
N/A
196000.00000000
NS
141780.67000000
0.108754372183
Long
EC
CORP
HK
N
2
N
N
N
Ingredion Inc
PKSTQ48QDN0XSVS7YK88
Ingredion Inc
457187102
1643.00000000
NS
USD
136369.00000000
0.104603293102
Long
EC
CORP
US
N
1
N
N
N
Geberit AG
52990093Z5OHD6T7BS47
Geberit AG
N/A
366.00000000
NS
183635.37000000
0.140859465363
Long
EC
CORP
CH
N
2
N
N
N
Nippon Prologis REIT Inc
353800PHBMSDLAFURY41
Nippon Prologis REIT Inc
N/A
44.00000000
NS
133699.91000000
0.102555939205
Long
EC
CORP
JP
N
2
N
N
N
United Utilities Group PLC
2138002IEYQAOC88ZJ59
United Utilities Group PLC
N/A
51554.00000000
NS
579296.81000000
0.444355784745
Long
EC
CORP
GB
N
2
N
N
N
South32 Ltd
213800LAZNPXSBKVHR17
South32 Ltd
N/A
109090.00000000
NS
154440.94000000
0.118465567056
Long
EC
CORP
AU
N
2
N
N
N
VICI Properties Inc
254900RKH6RY9KCJQH63
VICI Properties Inc
925652109
10998.00000000
NS
USD
222049.62000000
0.170325524747
Long
EC
CORP
US
N
1
N
N
N
Canadian Natural Resources Ltd
549300T15RIMIKZC5Q38
Canadian Natural Resources Ltd
N/A
7601.00000000
NS
131852.94000000
0.101139201206
Long
EC
CORP
CA
N
1
N
N
N
Cengage Learning Inc
549300BYGM0FWUSVXJ88
Cengage Learning Inc
15137NAA1
406000.00000000
PA
USD
284200.00000000
0.217998635319
Long
DBT
CORP
US
N
2
2024-06-15
Fixed
9.50000000
N
N
N
N
N
N
Sound Point CLO Fund, LP
N/A
Sound Point CLO Fund, LP
N/A
4000000.00000000
NS
USD
2631405.88000000
2.018447891662
Long
PF
IE
Y
N/A
N
N
N
Pentair PLC
549300EVR9D56WPSRP15
Pentair PLC
G7S00T104
10486.00000000
NS
USD
398363.14000000
0.305568687126
Long
EC
CORP
GB
N
1
N
N
N
Pennon Group PLC
213800V1CCTS41GWH423
Pennon Group PLC
N/A
58577.00000000
NS
811154.19000000
0.622204456204
Long
EC
CORP
GB
N
2
N
N
N
Clearway Energy Inc - Class C
549300LHAZ9HA9G3XC48
Clearway Energy Inc - Class C
18539C204
55256.00000000
NS
USD
1274203.36000000
0.977391251227
Long
EC
CORP
US
N
1
N
N
N
Svenska Cellulosa AB SCA
549300FW5JDRV1IJ0M67
Svenska Cellulosa AB SCA
N/A
11087.00000000
NS
132613.55000000
0.101722635203
Long
EC
CORP
SE
N
2
N
N
N
Benchmark 2019-B13 Mortgage Trust
N/A
Benchmark 2019-B13 Mortgage Trust
08162DAP3
1750000.00000000
PA
USD
128219.18000000
0.098351886916
Long
ABS-MBS
CORP
US
N
2
2057-08-15
Variable
1.14000000
N
N
N
N
N
N
Williams Cos Inc/The
D71FAKCBLFS2O0RBPG08
Williams Cos Inc/The
969457100
51729.00000000
NS
USD
983885.58000000
0.754699907635
Long
EC
CORP
US
N
1
N
N
N
McGraw-Hill Global Education Holdings LLC / McGraw-Hill Global Education Finance
N/A
McGraw-Hill Global Education Holdings LLC / McGraw-Hill Global Education Finance
580638AC8
239000.00000000
PA
USD
158935.00000000
0.121912783618
Long
DBT
CORP
US
N
2
2024-05-15
Fixed
7.88000000
N
N
N
N
N
N
CF Industries Holdings Inc
529900CG8YAQFZ2JMV97
CF Industries Holdings Inc
125269100
4709.00000000
NS
USD
132511.26000000
0.101644172570
Long
EC
CORP
US
N
1
N
N
N
Noble Midstream Partners LP
N/A
Noble Midstream Partners LP
65506L105
48304.00000000
NS
USD
408651.84000000
0.313460743985
Long
EC
CORP
US
N
1
N
N
N
Wihlborgs Fastigheter AB
549300RC1YDJPITF8X06
Wihlborgs Fastigheter AB
N/A
6366.00000000
NS
104717.06000000
0.080324335589
Long
EC
CORP
SE
N
2
N
N
N
Minto Apartment Real Estate Investment Trust
N/A
Minto Apartment Real Estate Investment Trust
N/A
5600.00000000
NS
82086.03000000
0.062964963120
Long
EC
CORP
CA
N
1
N
N
N
Pioneer Natural Resources Co
FY8JBF7CCL2VE4F1B628
Pioneer Natural Resources Co
723787107
1509.00000000
NS
USD
147429.30000000
0.113087213955
Long
EC
CORP
US
N
1
N
N
N
UPM-Kymmene Oyj
213800EC6PW5VU4J9U64
UPM-Kymmene Oyj
N/A
4788.00000000
NS
138682.33000000
0.106377757504
Long
EC
CORP
FI
N
2
N
N
N
OCI NV
549300NCMRGIBJYUOE57
OCI NV
N/A
12250.00000000
NS
128678.80000000
0.098704443330
Long
EC
CORP
NL
N
2
N
N
N
Grupo Aeroportuario del Pacifico SAB de CV
4469000001BZ368XFI90
Grupo Aeroportuario del Pacifico SAB de CV
N/A
45900.00000000
NS
331341.90000000
0.254159331541
Long
EC
CORP
MX
N
1
N
N
N
Fortescue Metals Group Ltd
529900VEJFORCO6I4826
Fortescue Metals Group Ltd
N/A
14991.00000000
NS
145737.17000000
0.111789247625
Long
EC
CORP
AU
N
2
N
N
N
International Paper Co
824LMFJDH41EY779Q875
International Paper Co
460146103
4062.00000000
NS
USD
143023.02000000
0.109707329976
Long
EC
CORP
US
N
1
N
N
N
JFE Holdings Inc
N/A
JFE Holdings Inc
N/A
18800.00000000
NS
135914.88000000
0.104254955522
Long
EC
CORP
JP
N
2
N
N
N
Transurban Group
549300ZR71SUQ4VUTM79
Transurban Group
N/A
124671.00000000
NS
1222610.00000000
0.937816015226
Long
EC
CORP
AU
N
2
N
N
N
Merlin Properties Socimi SA
959800L8KD863DP30X04
Merlin Properties Socimi SA
N/A
15798.00000000
NS
131648.14000000
0.100982107186
Long
EC
CORP
ES
N
2
N
N
N
NSI NV
724500I77C30W2LZZJ03
NSI NV
N/A
5336.00000000
NS
205965.21000000
0.157987806837
Long
EC
CORP
NL
N
2
N
N
N
Ecopetrol SA
254900IDGKCJICKBPA66
Ecopetrol SA
279158109
13286.00000000
NS
USD
147873.18000000
0.113427696834
Long
EC
CORP
CO
N
1
N
N
N
Citigroup Commercial Mortgage Trust 2019-GC41
N/A
Citigroup Commercial Mortgage Trust 2019-GC41
17328FAE5
1400000.00000000
PA
USD
564539.78000000
0.433036247794
Long
ABS-MBS
CORP
US
N
2
2056-08-10
Fixed
3.00000000
N
N
N
N
N
N
BANK 2019-BNK20
N/A
BANK 2019-BNK20
06540AAE1
15152881.65000000
PA
USD
961639.75000000
0.737636006926
Long
ABS-MBS
CORP
US
N
2
2062-09-15
Variable
0.96000000
N
N
N
N
N
N
EDP - Energias de Portugal SA
529900CLC3WDMGI9VH80
EDP - Energias de Portugal SA
N/A
217028.00000000
NS
1035926.38000000
0.794618357251
Long
EC
CORP
PT
N
2
N
N
N
METAWATER Co Ltd
N/A
METAWATER Co Ltd
N/A
5900.00000000
NS
271774.98000000
0.208467891463
Long
EC
CORP
JP
N
2
N
N
N
H-Food Holdings LLC / Hearthside Finance Co Inc
N/A
H-Food Holdings LLC / Hearthside Finance Co Inc
577088AA5
500000.00000000
PA
USD
465915.00000000
0.357385060431
Long
DBT
CORP
US
N
2
2026-06-01
Fixed
8.50000000
N
N
N
N
N
N
Emera Inc
NQZVQT2P5IUF2PGA1Q48
Emera Inc
N/A
26316.00000000
NS
1035504.36000000
0.794294642318
Long
EC
CORP
CA
N
1
N
N
N
Exxon Mobil Corp
J3WHBG0MTS7O8ZVMDC91
Exxon Mobil Corp
30231G102
3041.00000000
NS
USD
135993.52000000
0.104315277171
Long
EC
CORP
US
N
1
N
N
N
GS Mortgage Securities Trust 2019-GC42
N/A
GS Mortgage Securities Trust 2019-GC42
36257UAB3
3246000.00000000
PA
USD
229491.88000000
0.176034189503
Long
ABS-MBS
CORP
US
N
2
2052-09-01
Variable
0.94000000
N
N
N
N
N
N
Spark Infrastructure Group
N/A
Spark Infrastructure Group
N/A
738381.00000000
NS
1102806.14000000
0.845919189097
Long
EC
CORP
AU
N
2
N
N
N
National Grid PLC
8R95QZMKZLJX5Q2XR704
National Grid PLC
N/A
69552.00000000
NS
848559.13000000
0.650896313608
Long
EC
CORP
GB
N
2
N
N
N
Invitation Homes Inc
N/A
Invitation Homes Inc
46187W107
20123.00000000
NS
USD
553986.19000000
0.424941004242
Long
EC
CORP
US
N
1
N
N
N
City Developments Ltd
254900BPLPJS0RJ72373
City Developments Ltd
N/A
10400.00000000
NS
63555.19000000
0.048750685036
Long
EC
CORP
SG
N
2
N
N
N
American Water Works Co Inc
549300DXHIJQMD5WFW18
American Water Works Co Inc
030420103
8842.00000000
NS
USD
1137611.72000000
0.872617179742
Long
EC
CORP
US
N
1
N
N
N
Centuria Capital Group
N/A
Centuria Capital Group
N/A
198796.00000000
NS
247006.16000000
0.189468704417
Long
EC
CORP
AU
N
2
N
N
N
Japan Hotel REIT Investment Corp
353800L8KG849FP1JI68
Japan Hotel REIT Investment Corp
N/A
326.00000000
NS
135229.54000000
0.103729258180
Long
EC
CORP
JP
N
2
N
N
N
JPMBB Commercial Mortgage Securities Trust 2015-C28
N/A
JPMBB Commercial Mortgage Securities Trust 2015-C28
46644FBD2
500000.00000000
PA
USD
82388.35000000
0.063196860894
Long
ABS-MBS
CORP
US
N
2
2048-10-15
Variable
3.79000000
N
N
N
N
N
N
Atlas Arteria Ltd
N/A
Atlas Arteria Ltd
N/A
61393.00000000
NS
283512.48000000
0.217471265784
Long
EC
CORP
AU
N
2
N
N
N
Corteva Inc
549300WZN9I2QKLS0O94
Corteva Inc
22052L104
5065.00000000
NS
USD
135691.35000000
0.104083494456
Long
EC
CORP
US
N
1
N
N
N
Sunstone Hotel Investors Inc
529900ZQ2V52V96ATF67
Sunstone Hotel Investors Inc
867892101
6460.00000000
NS
USD
52649.00000000
0.040384975900
Long
EC
CORP
US
N
1
N
N
N
Transmissora Alianca de Energia Eletrica SA
N/A
Transmissora Alianca de Energia Eletrica SA
N/A
133700.00000000
NS
699957.52000000
0.536909866788
Long
EC
CORP
BR
N
1
N
N
N
Cantor Commercial Real Estate Lending 2019-CF1
N/A
Cantor Commercial Real Estate Lending 2019-CF1
12529MAL2
1000000.00000000
PA
USD
841560.80000000
0.645528170084
Long
ABS-MBS
CORP
US
N
2
2052-05-15
Variable
4.35000000
N
N
N
N
N
N
Investec Australia Property Fund
N/A
Investec Australia Property Fund
N/A
33578.00000000
NS
28236.34000000
0.021658985173
Long
EC
CORP
AU
N
2
N
N
N
JPMBB Commercial Mortgage Securities Trust 2015-C29
N/A
JPMBB Commercial Mortgage Securities Trust 2015-C29
46644RBH7
560000.00000000
PA
USD
347263.45000000
0.266372125954
Long
ABS-MBS
CORP
US
N
2
2048-05-15
Variable
3.85000000
N
N
N
N
N
N
Citigroup Commercial Mortgage Trust 2019-GC41
N/A
Citigroup Commercial Mortgage Trust 2019-GC41
17328FAA3
1750000.00000000
PA
USD
1030580.25000000
0.790517551325
Long
ABS-MBS
CORP
US
N
2
2056-08-10
Fixed
3.00000000
N
N
N
N
N
N
Segro PLC
213800XC35KGM9NFC641
Segro PLC
N/A
43341.00000000
NS
479349.02000000
0.367689768478
Long
EC
CORP
GB
N
2
N
N
N
Tatneft PJSC
253400PAT768SVJMV121
Tatneft PJSC
876629205
3073.00000000
NS
USD
143111.62000000
0.109775291549
Long
EC
CORP
RU
N
2
N
N
N
APA Group
549300T9RBSX164T8H40
APA Group
N/A
110322.00000000
NS
853042.34000000
0.654335207562
Long
EC
CORP
AU
N
2
N
N
N
Freddie Mac STACR 2019-HQA3
N/A
Freddie Mac STACR 2019-HQA3
35564XBE0
500000.00000000
PA
USD
392369.15000000
0.300970933290
Long
ABS-MBS
CORP
US
N
2
2049-09-25
Floating
7.68000000
N
N
N
N
N
N
Castellum AB
549300GU5OHTR1T5IY68
Castellum AB
N/A
6546.00000000
NS
122658.55000000
0.094086546482
Long
EC
CORP
SE
N
2
N
N
N
Banc of America Commercial Mortgage Trust 2015-UBS7
N/A
Banc of America Commercial Mortgage Trust 2015-UBS7
06054ABE8
1000000.00000000
PA
USD
664209.10000000
0.509488660684
Long
ABS-MBS
CORP
US
N
2
2048-09-15
Fixed
3.17000000
N
N
N
N
N
N
Glencore PLC
2138002658CPO9NBH955
Glencore PLC
N/A
74672.00000000
NS
159066.14000000
0.122013375951
Long
EC
CORP
CH
N
2
N
N
N
Occidental Petroleum Corp
IM7X0T3ECJW4C1T7ON55
Occidental Petroleum Corp
674599105
10680.00000000
NS
USD
195444.00000000
0.149917400708
Long
EC
CORP
US
N
1
N
N
N
BANK 2018-BNK15
N/A
BANK 2018-BNK15
06036FBH3
1600000.00000000
PA
USD
1476961.12000000
1.132918749399
Long
ABS-MBS
CORP
US
N
2
2061-11-15
Variable
4.81000000
N
N
N
N
N
N
Benchmark 2019-B13 Mortgage Trust
N/A
Benchmark 2019-B13 Mortgage Trust
08162DAV0
1750000.00000000
PA
USD
690350.50000000
0.529540699830
Long
ABS-MBS
CORP
US
N
2
2057-08-15
Fixed
3.00000000
N
N
N
N
N
N
Hydro One Ltd
5493007QZDXTP1W2VL44
Hydro One Ltd
N/A
29537.00000000
NS
555450.51000000
0.426064226485
Long
EC
CORP
CA
N
1
N
N
N
CFE Capital S de RL de CV
N/A
CFE Capital S de RL de CV
N/A
541100.00000000
NS
574894.47000000
0.440978922985
Long
EC
CORP
MX
N
1
N
N
N
Repsol SA
BSYCX13Y0NOTV14V9N85
Repsol SA
N/A
14855.00000000
NS
131257.86000000
0.100682738757
Long
EC
CORP
ES
N
2
N
N
N
Equitrans Midstream Corp
549300RH0NLJNZ5SXU64
Equitrans Midstream Corp
294600101
20203.00000000
NS
USD
167886.93000000
0.128779456818
Long
EC
CORP
US
N
1
N
N
N
Schlumberger Ltd
213800ZUA17OK3QLGM62
Schlumberger Ltd
806857108
7488.00000000
NS
USD
137704.32000000
0.105627564523
Long
EC
CORP
US
N
1
N
N
N
Industrial Logistics Properties Trust
N/A
Industrial Logistics Properties Trust
456237106
14761.00000000
NS
USD
303338.55000000
0.232679063827
Long
EC
CORP
US
N
1
N
N
N
BANK 2019-BNK22
N/A
BANK 2019-BNK22
06540XAC5
2000000.00000000
PA
USD
213938.00000000
0.164103420277
Long
ABS-MBS
CORP
US
N
2
2062-11-15
Variable
1.50000000
N
N
N
N
N
N
Petroleo Brasileiro SA
5493000J801JZRCMFE49
Petroleo Brasileiro SA
71654V408
18127.00000000
NS
USD
149910.29000000
0.114990283744
Long
EC
CORP
BR
N
1
N
N
N
Nomura Real Estate Master Fund Inc
353800TNNZOQ1CPZE086
Nomura Real Estate Master Fund Inc
N/A
100.00000000
NS
119769.76000000
0.091870669361
Long
EC
CORP
JP
N
2
N
N
N
2020-08-02
Principal Diversified Select Real Asset Fund
Sara Reece
/s/ Sara Reece
Vice President and Controller
XXXX
NPORT-EX
2
principal_3501.htm
Schedule
of
Investments
Principal
Diversified
Select
Real
Asset
Fund
June
30,
2020
(unaudited)
INVESTMENT
COMPANIES
-
6.75
%
Shares
Held
Value
(000's)
Exchange-Traded
Funds
-
0.35
%
SPDR
S&P
Global
Natural
Resources
ETF
12,737
$
470
Money
Market
Funds
-
6.40%
Morgan
Stanley
Institutional
Liquidity
Funds
-
Government
Portfolio
-
Institutional
Class
0.05%
(a)
8,353,681
8,354
TOTAL
INVESTMENT
COMPANIES
$
8,824
PRIVATE
INVESTMENT
FUNDS
-
12.98
%
Shares/Units
Held
Value
(000's)
Agriculture
-
4.72
%
Ceres
Farmland
Holdings,
LP
(b)
6,000,000
$
6,185
Diversified
Financial
Services
-
2.15%
Sound
Point
CLO
Fund,
LP
(b)
N/A
2,803
Forest
Products
&
Paper
-
6.11
%
BTG
Pactual
Open
Ended
Core
US
Timberland
Fund,
LP
(b)
6,905
7,9
8
3
TOTAL
PRIVATE
INVESTMENT
FUNDS
$
16,971
COMMON
STOCKS
-
52.38
%
Shares
Held
Value
(000's)
Agriculture
-
0.22%
Archer-Daniels-Midland
Co
3,519
$
140
Bunge
Ltd
3,544
146
$
286
Biotechnology
-
0.10%
Corteva
Inc
5,065
136
Building
Materials
-
0.14%
Geberit
AG
366
184
Chemicals
-
1.22%
CF
Industries
Holdings
Inc
4,709
132
Ecolab
Inc
1,877
373
FMC
Corp
1,406
140
ICL
Group
Ltd
39,948
119
K+S
AG
21,760
138
Mosaic
Co/The
11,440
143
Nutrien
Ltd
4,067
131
OCI
NV
(c)
12,250
129
Sociedad
Quimica
y
Minera
de
Chile
SA
ADR
5,675
148
Yara
International
ASA
4,043
141
$
1,594
Commercial
Services
-
1.25%
Atlas
Arteria
Ltd
62,512
289
China
Merchants
Port
Holdings
Co
Ltd
108,000
128
Transurban
Group
124,671
1,222
$
1,639
Consumer
Products
-
0.11%
Avery
Dennison
Corp
1,250
143
Diversified
Financial
Services
-
0.19%
Centuria
Capital
Group
198,796
247
Electric
-
10.24
%
AusNet
Services
833,698
963
CenterPoint
Energy
Inc
12,844
240
Clearway
Energy
Inc
-
Class
C
55,256
1,274
Dominion
Energy
Inc
15,130
1,228
Duke
Energy
Corp
11,523
921
Edison
International
13,556
736
EDP
-
Energias
de
Portugal
SA
217,028
1,036
Emera
Inc
26,316
1,035
Hydro
One
Ltd
(d)
29,537
555
Red
Electrica
Corp
SA
90,151
1,687
Spark
Infrastructure
Group
738,381
1,103
SSE
PLC
51,712
876
Terna
Rete
Elettrica
Nazionale
SpA
148,495
1,024
Transmissora
Alianca
de
Energia
Eletrica
SA
133,700
700
$
13,378
Electronics
-
0.33%
Badger
Meter
Inc
3,666
230
Watts
Water
Technologies
Inc
2,429
197
$
427
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Energy
-
Alternate
Sources
-
2.95%
Enviva
Partners
LP
(c),(e)
30,769
$
1,109
NextEra
Energy
Partners
LP
29,882
1,532
TerraForm
Power
Inc
65,380
1,206
$
3,847
Engineering
&
Construction
-
0.88%
Aena
SME
SA
(c),(d)
1,828
245
Grupo
Aeroportuario
del
Pacifico
SAB
de
CV
45,900
331
Stantec
Inc
6,774
209
Sydney
Airport
91,147
360
$
1,145
Environmental
Control
-
1.67%
China
Water
Affairs
Group
Ltd
196,000
142
Evoqua
Water
Technologies
Corp
(c)
23,385
435
Kurita
Water
Industries
Ltd
11,600
323
METAWATER
Co
Ltd
5,900
272
Pentair
PLC
10,486
398
Tetra
Tech
Inc
7,688
608
$
2,178
Food
-
0.22%
Ingredion
Inc
1,643
137
Wilmar
International
Ltd
49,100
145
$
282
Forest
Products
&
Paper
-
0.85%
International
Paper
Co
4,062
143
Mondi
PLC
7,419
139
Nine
Dragons
Paper
Holdings
Ltd
158,000
144
Oji
Holdings
Corp
27,500
128
Smurfit
Kappa
Group
PLC
4,250
143
Stora
Enso
Oyj
11,279
135
Svenska
Cellulosa
AB
SCA
(c)
11,087
133
UPM-
Kymmene
Oyj
4,788
139
$
1,104
Gas
-
2.22%
Enagas
SA
12,039
295
Italgas
SpA
104,886
610
National
Grid
PLC
69,552
849
Snam
SpA
235,783
1,149
$
2,903
Healthcare
-
Products
-
0.69%
Danaher
Corp
5,135
908
Iron
&
Steel
-
1.09%
ArcelorMittal
SA
(c)
14,449
153
Evraz
PLC
39,615
140
Fortescue
Metals
Group
Ltd
14,991
146
JFE
Holdings
Inc
18,800
136
Nippon
Steel
Corp
15,000
142
Novolipetsk
Steel
PJSC
7,197
143
Nucor
Corp
3,273
136
POSCO
946
138
thyssenkrupp
AG
(c)
20,518
146
Vale
SA
ADR
14,172
146
$
1,426
Lodging
-
0.05%
City
Developments
Ltd
10,400
64
Machinery
-
Diversified
-
0.96%
IDEX
Corp
1,853
293
Mueller
Water
Products
Inc
-
Class
A
19,689
185
Xylem
Inc
/NY
11,868
771
$
1,249
Metal
Fabrication
&
Hardware
-
0.26%
Advanced
Drainage
Systems
Inc
6,789
335
Mining
-
2.26%
Agnico
Eagle
Mines
Ltd
2,171
139
Anglo
American
PLC
6,574
152
Antofagasta
PLC
12,766
148
Barrick
Gold
Corp
5,774
155
BHP
Group
Ltd
6,016
150
Franco-Nevada
Corp
990
138
Schedule
of
Investments
Principal
Diversified
Select
Real
Asset
Fund
June
30,
2020
(unaudited)
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Mining
(continued)
Freeport-McMoRan
Inc
15,249
$
176
Glencore
PLC
(c)
74,672
159
Kirkland
Lake
Gold
Ltd
3,604
148
Korea
Zinc
Co
Ltd
453
127
MMC
Norilsk
Nickel
PJSC
ADR
4,415
116
Newcrest
Mining
Ltd
6,814
151
Newmont
Corp
2,366
146
Norsk
Hydro
ASA
(c)
54,473
152
Rio
Tinto
Ltd
2,231
153
South32
Ltd
109,090
154
Southern
Copper
Corp
3,811
152
Sumitomo
Metal
Mining
Co
Ltd
5,000
141
Teck
Resources
Ltd
14,616
153
Wheaton
Precious
Metals
Corp
3,223
142
$
2,952
Oil
&
Gas
-
3.02%
BP
PLC
36,590
140
Canadian
Natural
Resources
Ltd
7,601
132
Chevron
Corp
1,509
135
CNOOC
Ltd
124,000
139
ConocoPhillips
3,279
138
Ecopetrol
SA
ADR
13,286
148
Eni
SpA
15,307
147
EOG
Resources
Inc
2,713
137
Equinor
ASA
9,525
137
Exxon
Mobil
Corp
3,041
136
Gazprom
PJSC
ADR
24,903
134
Imperial
Oil
Ltd
8,887
143
LUKOIL
PJSC
ADR
1,863
139
Marathon
Petroleum
Corp
3,936
147
Neste
Oyj
3,424
135
Novatek
PJSC
956
136
Occidental
Petroleum
Corp
10,680
195
Petroleo
Brasileiro
SA
ADR
18,127
150
Phillips
66
1,768
127
Pioneer
Natural
Resources
Co
1,509
147
Repsol
SA
14,855
131
Repsol
SA
-
Rights
(c)
14,855
7
Rosneft
Oil
Co
PJSC
26,577
134
Royal
Dutch
Shell
PLC
-
A
Shares
8,884
142
Suncor
Energy
Inc
8,076
136
Tatneft
PJSC
ADR
3,073
143
TOTAL
SA
3,697
143
Valero
Energy
Corp
2,076
122
Woodside
Petroleum
Ltd
9,191
139
$
3,939
Oil
&
Gas
Services
-
0.22%
Halliburton
Co
11,771
153
Schlumberger
Ltd
7,488
137
$
290
Packaging
&
Containers
-
0.53%
Amcor
PLC
13,547
138
DS
Smith
PLC
32,992
134
Packaging
Corp
of
America
1,364
136
Sealed
Air
Corp
4,309
142
Westrock
Co
4,929
139
$
689
Pipelines
-
5.00%
APA
Group
110,322
853
Cheniere
Energy
Inc
(c)
8,562
414
Enbridge
Inc
14,912
453
Energy
Transfer
LP
58,775
418
Equitrans
Midstream
Corp
20,203
168
Gibson
Energy
Inc
27,263
424
Hess
Midstream
LP
13,730
252
Kinder
Morgan
Inc
25,785
391
Magellan
Midstream
Partners
LP
10,311
445
MPLX
LP
27,006
467
Noble
Midstream
Partners
LP
48,304
409
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Pipelines
(continued)
ONEOK
Inc
8,357
$
278
Phillips
66
Partners
LP
9,816
354
Plains
All
American
Pipeline
LP
24,013
212
Williams
Cos
Inc
/The
51,729
984
$
6,522
Real
Estate
-
1.80%
Castellum
AB
4,881
91
Entra
ASA
(d)
6,878
88
Fabege
AB
5,831
69
LEG
Immobilien
AG
(c)
1,274
162
Midea
Real
Estate
Holding
Ltd
(d)
28,600
70
Mitsubishi
Estate
Co
Ltd
20,300
302
Mitsui
Fudosan
Co
Ltd
10,000
178
New
World
Development
Co
Ltd
62,750
298
Sun
Hung
Kai
Properties
Ltd
20,500
262
Vonovia
SE
9,242
565
Wihlborgs
Fastigheter
AB
4,747
78
Zhongliang
Holdings
Group
Co
Ltd
272,000
194
$
2,357
REITs
-
8.67
%
AIMS
APAC
REIT
152,700
135
Alexandria
Real
Estate
Equities
Inc
563
91
American
Homes
4
Rent
7,287
196
American
Tower
Corp
421
109
Apartment
Investment
and
Management
Co
2,674
101
Arena
REIT
98,950
151
AvalonBay
Communities
Inc
580
90
Big
Yellow
Group
PLC
15,809
197
Centuria
Industrial
REIT
38,593
85
Centuria
Office
REIT
49,414
69
CFE
Capital
S
de
RL
de
CV
541,100
575
CoreSite
Realty
Corp
1,608
195
Crown
Castle
International
Corp
4,974
833
CubeSmart
7,103
192
CyrusOne
Inc
1,804
131
Daiwa
Office
Investment
Corp
16
88
Dexus
13,775
88
Dream
Industrial
Real
Estate
Investment
Trust
29,600
233
Equinix
Inc
334
235
Essential
Properties
Realty
Trust
Inc
5,145
76
Essex
Property
Trust
Inc
246
56
Gecina
SA
1,139
141
Goodman
Group
20,730
214
Healthcare
Trust
of
America
Inc
7,253
192
Healthpeak
Properties
Inc
6,606
182
Independence
Realty
Trust
Inc
25,216
290
Industrial
&
Infrastructure
Fund
Investment
Corp
81
131
Industrial
Logistics
Properties
Trust
10,761
221
Ingenia
Communities
Group
48,452
152
Inmobiliaria
Colonial
Socimi
SA
9,731
86
Investec
Australia
Property
Fund
33,578
28
Invitation
Homes
Inc
15,123
416
Japan
Hotel
REIT
Investment
Corp
326
135
Lendlease
Global
Commercial
REIT
55,500
27
Link
REIT
31,100
255
MCUBS
MidCity
Investment
Corp
198
144
Merlin
Properties
Socimi
SA
12,739
106
MGM
Growth
Properties
LLC
3,391
92
Minto
Apartment
Real
Estate
Investment
Trust
4,200
62
NewRiver
REIT
PLC
33,633
26
Nippon
Prologis
REIT
Inc
(c)
44
134
Nomura
Real
Estate
Master
Fund
Inc
100
120
NSI
NV
4,036
156
Park
Hotels
&
Resorts
Inc
6,593
65
Physicians
Realty
Trust
6,704
117
Prologis
Inc
8,107
757
Rayonier
Inc
5,823
144
Rexford
Industrial
Realty
Inc
2,655
110
Schedule
of
Investments
Principal
Diversified
Select
Real
Asset
Fund
June
30,
2020
(unaudited)
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
REITs
(continued)
Sabana
Shari'ah
Compliant
Industrial
Real
Estate
Investment
Trust
720,000
$
182
Sabra
Health
Care
REIT
Inc
5,414
78
Segro
PLC
32,317
357
Sekisui
House
Reit
Inc
329
211
Simon
Property
Group
Inc
271
19
STORE
Capital
Corp
7,295
174
Summit
Industrial
Income
REIT
19,130
161
Sun
Communities
Inc
1,857
252
Sunstone
Hotel
Investors
Inc
4,860
40
Taubman
Centers
Inc
614
23
Terreno
Realty
Corp
1,300
68
UNITE
Group
PLC/The
7,492
87
United
Urban
Investment
Corp
146
157
VICI
Properties
Inc
8,201
166
Vicinity
Centres
43,210
43
Welltower
Inc
6,543
339
Weyerhaeuser
Co
11,454
257
WPT
Industrial
Real
Estate
Investment
Trust
23,821
303
$
11,346
Telecommunications
-
0.07%
Eutelsat
Communications
SA
9,506
88
Water
-
5.17
%
Aguas
Andinas
SA
2,407,131
815
American
States
Water
Co
3,707
292
American
Water
Works
Co
Inc
8,842
1,138
Essential
Utilities
Inc
19,628
829
Guangdong
Investment
Ltd
180,000
311
Middlesex
Water
Co
1,438
97
Pennon
Group
PLC
58,577
811
Severn
Trent
PLC
20,197
618
SJW
Group
2,842
177
Suez
SA
31,010
364
United
Utilities
Group
PLC
51,554
579
Veolia
Environnement
SA
25,793
582
York
Water
Co/The
3,441
165
$
6,778
TOTAL
COMMON
STOCKS
$
68,436
CONVERTIBLE
PREFERRED
STOCKS
-
1.53%
Shares
Held
Value
(000's)
Pipelines
-
1.53%
Targa
Resources
Corp
9.50%,
02/18/2021
(e),(f),(g),(h)
2,000
$
1,994
TOTAL
CONVERTIBLE
PREFERRED
STOCKS
$
1,994
PREFERRED
STOCKS
-
0.21%
Shares
Held
Value
(000's)
Electric
-
0.21%
Cia
de
Transmissao
de
Energia
Eletrica
Paulista
0.15%
71,100
$
274
TOTAL
PREFERRED
STOCKS
$
274
BONDS
-
24.37
%
Principal
Amount
(000's)
Value
(000's)
Commercial
Mortgage
Backed
Securities
-
17.37
%
Banc
of
America
Commercial
Mortgage
Trust
2015-UBS7
3.17%,
09/15/2048
$
1,000
$
664
BANK
2018-BNK13
3.00%,
08/15/2061
(d)
2,000
1,148
BANK
2018-BNK15
4.81%,
11/15/2061
(
i
)
1,600
1,477
BANK
2019-BNK20
0.96%,
09/15/2062
(
i
),(j)
15,153
962
BANK
2019-BNK22
1.50%,
11/15/2062
(d),(
i
),(j)
2,000
214
1.96%,
11/15/2062
(d),(
i
)
1,000
378
Benchmark
2018-B6
Mortgage
Trust
3.27%,
10/10/2051
(d),(
i
)
1,000
643
3.27%,
10/10/2051
(d),(
i
)
550
311
Benchmark
2019-B12
Mortgage
Trust
3.00%,
08/15/2052
(d)
2,391
1,814
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Commercial
Mortgage
Backed
Securities
(continued)
Benchmark
2019-B13
Mortgage
Trust
1.14%,
08/15/2057
(d),(
i
),(j)
$
1,750
$
128
3.00%,
08/15/2057
(d)
1,750
690
Cantor
Commercial
Real
Estate
Lending
2019-CF1
4.35%,
05/15/2052
(
i
)
1,000
842
CCUBS
Commercial
Mortgage
Trust
2017-C1
3.91%,
11/15/2050
(
i
)
1,000
1,089
Citigroup
Commercial
Mortgage
Trust
2018-C6
5.24%,
11/10/2051
(
i
)
1,000
933
Citigroup
Commercial
Mortgage
Trust
2019-GC41
3.00%,
08/10/2056
(d)
1,750
1,031
3.00%,
08/10/2056
(d)
1,400
564
COMM
2015-CCRE25
Mortgage
Trust
4.69%,
08/10/2048
(d),(
i
)
500
314
Csail
2015-C2
Commercial
Mortgage
Trust
3.23%,
06/15/2057
(d)
500
243
4.33%,
06/15/2057
(
i
)
500
285
Freddie
Mac
Multifamily
Structured
Pass
Through
Certificates
1.63%,
01/25/2027
(
i
),(j)
12,000
975
GS
Mortgage
Securities
Trust
2013-GCJ14
4.90%,
08/10/2046
(d),(
i
)
539
408
GS
Mortgage
Securities
Trust
2019-GC40
1.30%,
07/10/2052
(d),(
i
),(j)
9,860
877
3.00%,
07/10/2052
(d)
2,000
1,342
GS
Mortgage
Securities
Trust
2019-GC42
0.94%,
09/01/2052
(d),(
i
),(j)
3,246
229
2.80%,
09/01/2052
(d)
1,500
1,064
JPMBB
Commercial
Mortgage
Securities
Trust
2014-C21
4.81%,
08/15/2047
(d),(
i
)
1,000
820
JPMBB
Commercial
Mortgage
Securities
Trust
2015-C28
3.79%,
10/15/2048
(d),(
i
)
500
82
JPMBB
Commercial
Mortgage
Securities
Trust
2015-C29
3.85%,
05/15/2048
(
i
)
560
347
JPMCC
Commercial
Mortgage
Securities
Trust
2019-COR4
3.00%,
03/10/2052
(d)
2,000
1,255
Morgan
Stanley
Bank
of
America
Merrill
Lynch
Trust
2015-C25
4.68%,
10/15/2048
(d),(
i
)
1,000
603
4.68%,
10/15/2048
(d),(
i
)
500
295
WFRBS
Commercial
Mortgage
Trust
2014-C20
3.99%,
05/15/2047
(d)
500
352
WFRBS
Commercial
Mortgage
Trust
2014-C21
3.50%,
08/15/2047
(d)
500
318
$
22,697
Commercial
Services
-
0.54%
APX
Group
Inc
6.75%,
02/15/2027
(d)
750
708
Consumer
Products
-
0.50%
Kronos
Acquisition
Holdings
Inc
9.00%,
08/15/2023
(d)
683
651
Food
-
0.36%
H-Food
Holdings
LLC
/
Hearthside
Finance
Co
Inc
8.50%,
06/01/2026
(d)
500
466
Healthcare
-
Services
-
0.52%
Hadrian
Merger
Sub
Inc
8.50%,
05/01/2026
(d)
750
679
Insurance
-
0.58%
Acrisure
LLC
/
Acrisure
Finance
Inc
10.13%,
08/01/2026
(d)
700
752
Schedule
of
Investments
Principal
Diversified
Select
Real
Asset
Fund
June
30,
2020
(unaudited)
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Leisure
Products
&
Services
-
0.46%
Constellation
Merger
Sub
Inc
8.50%,
09/15/2025
(d)
$
750
$
600
Media
-
0.34%
Cengage
Learning
Inc
9.50%,
06/15/2024
(d)
406
284
McGraw-Hill
Global
Education
Holdings
LLC
/
McGraw-Hill
Global
Education
Finance
7.88%,
05/15/2024
(d)
239
159
$
443
Miscellaneous
Manufacturers
-
0.57%
FXI
Holdings
Inc
7.88%,
11/01/2024
(d)
688
592
12.25%,
11/15/2026
(d)
160
155
$
747
Mortgage
Backed
Securities
-
1.98
%
Freddie
Mac
STACR
2019-HQA3
7.68%,
09/25/2049
(d)
500
392
1.00
x
1
Month
USD
LIBOR
+
7.50%
Freddie
Mac
STACR
Remic
Trust
2020-DNA2
4.98%,
02/25/2050
(d)
500
289
1.00
x
1
Month
USD
LIBOR
+
4.80%
Freddie
Mac
STACR
Trust
2019-DNA2
10.68%,
03/25/2049
(d)
900
850
1.00
x
1
Month
USD
LIBOR
+
10.50%
Freddie
Mac
STACR
Trust
2019-DNA3
8.33%,
07/25/2049
(d)
250
203
1.00
x
1
Month
USD
LIBOR
+
8.15%
Freddie
Mac
STACR
Trust
2019-HQA2
11.43%,
04/25/2049
(d)
900
869
1.00
x
1
Month
USD
LIBOR
+
11.25%
$
2,603
Other
Asset
Backed
Securities
-
0.30%
Oaktree
CLO
2019-4
Ltd
8.37%,
10/20/2032
(d)
500
388
1.00
x
3
Month
USD
LIBOR
+
7.23%
Retail
-
0.31%
Staples
Inc
10.75%,
04/15/2027
(d)
700
411
Telecommunications
-
0.54%
Consolidated
Communications
Inc
6.50%,
10/01/2022
417
384
Gogo
Intermediate
Holdings
LLC
/
Gogo
Finance
Co
Inc
9.88%,
05/01/2024
(d)
372
316
$
700
TOTAL
BONDS
$
31,845
CONVERTIBLE
BONDS
-
1.75%
Principal
Amount
(000's)
Value
(000's)
Energy
-
Alternate
Sources
-
1.75%
Sunnova
Energy
International
Inc
9.75%,
04/30/2025
(e),(g),(h)
$
1,777
$
2,286
TOTAL
CONVERTIBLE
BONDS
$
2,286
SENIOR
FLOATING
RATE
INTERESTS
-
0.39%
Principal
Amount
(000's)
Value
(000's)
Automobile
Parts
&
Equipment
-
0.39%
GC
EOS
Buyer
Inc
9.58%,
06/29/2026
(k)
$
700
$
511
3
Month
USD
LIBOR
+
2.75%
TOTAL
SENIOR
FLOATING
RATE
INTERESTS
$
511
Total
Investments
$
131,
141
Other
Assets
and
Liabilities
- (0.36)%
(473)
TOTAL
NET
ASSETS
-
100.00%
$
130,668
(a)
Current
yield
shown
is
as
of
period
end.
(b)
Private
Investment
Funds
have
quarterly
or
annual
redemption
frequencies
and
are
considered
restricted
securities.
Please
see
Private
Investment
Funds
sub-schedule
for
additional
information.
(c)
Non-income
producing
security
(d)
Security
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$24,845
or
19.01%
of
net
assets.
(e)
Fair
value
of
these
investments
is
determined
in
good
faith
by
the
Manager
under
procedures
established
and
periodically
reviewed
by
the
Board
of
Directors.
Certain
inputs
used
in
the
valuation
may
be
unobservable;
however,
each
security
is
evaluated
individually
for
purposes
of
ASC
820
which
results
in
not
all
securities
being
identified
as
Level
3
of
the
fair
value
hierarchy.
At
the
end
of
the
period,
the
fair
value
of
these
securities
totaled
$5,389
or
4.12
%
of
net
assets.
(f)
Perpetual
security.
Perpetual
securities
pay
an
indefinite
stream
of
interest,
but
they
may
be
called
by
the
issuer
at
an
earlier
date.
Date
shown,
if
any,
reflects
the
next
call
date
or
final
legal
maturity
date.
Rate
shown
is
as
of
period
end.
(g)
The
value
of
these
investments
was
determined
using
significant
unobservable
inputs.
(h)
Restricted
Security.
Please
see
Restricted
Security
sub-schedule
for
additional
information.
(
i
)
Certain
variable
rate
securities
are
not
based
on
a
published
reference
rate
and
spread
but
are
determined
by
the
issuer
or
agent
and
are
based
on
current
market
conditions. These
securities
do
not
indicate
a
reference
rate
and
spread
in
their
description.
Rate
shown
is
the
rate
in
effect
as
of
period
end.
(j)
Security
is
an
Interest
Only
Strip.
(k)
Rate
information
disclosed
is
based
on
an
average
weighted
rate
of
the
underlying
tranches
as
of
period
end.
Portfolio
Summary (unaudited)
Sector
Percent
Mortgage
Securities
19.38%
Utilities
17.87%
Energy
14.47%
Financial
13.41%
Industrial
11.40%
Money
Market
Funds
6.40%
Consumer,
Cyclical
5.90%
Basic
Materials
5.42%
Consumer,
Non-cyclical
4.51%
Communications
0.95%
Investment
Companies
0.3
5
%
Asset
Backed
Securities
0.30%
Other
Assets
and
Liabilities
(0.36
)%
TOTAL
NET
ASSETS
100.00%
Schedule
of
Investments
Principal
Diversified
Select
Real
Asset
Fund
June
30,
2020
(unaudited)
Private
Investment
Funds
Security
Name
Acquisition
Date
Cost
Value
Redemption
Notice
(days)
Percent
of
Net
Assets
BTG
Pactual
Open
Ended
Core
US
Timberland
Fund,
LP
(a)
07/01/2019
$
8,000
$
7,98
3
90
6.11%
Ceres
Farmland
Holdings,
LP
(b)
11/01/2019
6,000
6,185
N/A
4.72%
Sound
Point
CLO
Fund,
LP
(c)
08/01/2019
4,000
2,803
60
2.15%
Total
$
16,971
12.98%
The
private
investment
funds
listed
in
the
table
do
not
include
any
unfunded
commitments.
Amounts
in
thousands.
(a)
The
fund
was
established
to
invest
and
reinvest
assets
of
the
investors
through
the
REIT,
primarily
in
interests
(including
ownership
or
leasehold
interests)
in
real
property,
which
is
to
be
planted
with
trees,
or
real
property
on
which
trees
are
growing
(timberland),
trees
growing
on
timberland,
or
trees
which
have
been
cut
but
not
removed
from
the
timberland
(timber);
contracts
or
agreements
for
the
cutting
and/or
use
of
timber
on
timberland.
Timber
investments
are
not
intended
to
produce
immediate
revenues.
Redemptions
are
subject
to
a
two-year
holding
period
from
the
acquisition
date.
(b)
The
fund
is
an
open-ended
investment
fund
whose
objective
is
to
generate
an
attractive
total
return
through
the
acquisition
and
management
of
farmland
in
the
Midwestern
United
States.
Redemptions
are
subject
to
a
one-year
holding
period
from
the
acquisition
date.
After
the
holding
period
has
expired,
redemptions
are
permitted
with
written
redemption
notice
five
months
prior
to
the
annual
redemption
date,
which
is
the
last
day
of
February.
(c)
The
fund
was
organized
for
the
purpose
of
trading
and
investing
in
residual
tranches
and
other
notes
issued
by
and
with
respect
to
collateralized
loan
obligations.
Redemptions
are
subject
to
a
one-year
holding
period
from
the
acquisition
date.
Restricted
Securities
Security
Name
Acquisition
Date
Cost
Value
Percent
of
Net
Assets
Sunnova
Energy
International
Inc
9.75%,
04/30/2025
05/21/2020
$
1,777
$
2,286
1.75%
Targa
Resources
Corp
9.50%,
02/18/2021
11/18/2019
2,150
1,994
1.53%
Total
$
4,280
3.28%
Amounts
in
thousands.
Glossary
to
the
Schedule
of
Investments
June
30,
2020
(unaudited)
Currency
Abbreviations
USD/$
United
States
Dollar
June
30,
2020
(unaudited)
Security
Valuation.
Principal
Diversified
Select
Real
Asset
Fund
(known
as
the
“Fund”)
values
securities
for
which
market
quotations
are
readily
available
at
fair
value,
which
is
determined
using
the
last
reported
sale
price.
If
no
sales
are
reported,
as
is
regularly
the
case
for
some
securities
traded
over-the-counter,
securities
are
valued
using
the
last
reported
bid
price
or
an
evaluated
bid
price
provided
by
a
pricing
service.
Pricing
services
use
modeling
techniques
that
incorporate
security
characteristics
such
as
current
quotations
by
broker/dealers,
coupon,
maturity,
quality,
type
of
issue,
trading
characteristics,
other
yield
and
risk
factors,
and
other
market
conditions
to
determine
an
evaluated
bid
price
or,
in
the
case
of
certain
credit
default
swaps,
a
mean
price
provided
by
a
pricing
service.
When
reliable
market
quotations
are
not
considered
to
be
readily
available,
which
may
be
the
case,
for
example,
with
respect
to
restricted
securities,
certain
debt
securities,
preferred
stocks,
and
foreign
securities,
the
investments
are
valued
at
their
fair
value
as
determined
in
good
faith
by
the
Principal
Global
Investors,
LLC
(“the
Manager”)
under
procedures
established
and
periodically
reviewed
by
the
Fund’s
Board
of
Trustees.
The
Fund
invests
in
other
publicly
traded
investment
funds
which
are
valued
at
the
respective
fund’s
net
asset
value.
In
addition,
the
Fund
invests
a
portion
of
its
assets
in
private
investment
funds
which
are
valued
at
fair
value
based
upon
the
net
asset
value
reported
on
a
periodic
basis.
The
appropriateness
of
the
fair
value
of
these
securities
is
monitored
by
the
Manager.
The
value
of
foreign
securities
used
in
computing
the
net
asset
value
per
share
is
generally
determined
as
of
the
close
of
the
foreign
exchange
where
the
security
is
principally
traded.
Events
that
occur
after
the
close
of
the
applicable
foreign
market
or
exchange
but
prior
to
the
calculation
of
the
Fund’s
net
asset
value
are
reflected
in
the
Fund’s
net
asset
value
and
these
securities
are
valued
at
fair
value
as
determined
in
good
faith
by
the
Manager
under
procedures
established
and
periodically
reviewed
by
the
Fund’s
Board
of
Trustees.
Many
factors,
provided
by
independent
pricing
services,
are
reviewed
in
the
course
of
making
a
good
faith
determination
of
a
security’s
fair
value,
including,
but
not
limited
to,
price
movements
in
ADRs,
futures
contracts,
industry
indices,
general
indices,
and
foreign
currencies.
To
the
extent
the
Fund
invests
in
foreign
securities
listed
on
foreign
exchanges
which
trade
on
days
on
which
the
Fund
does
not
determine
net
asset
value,
for
example
weekends
and
other
customary
national
U.S.
holidays,
the
Fund’s
net
asset
value
could
be
significantly
affected
on
days
when
shareholders
cannot
purchase
or
redeem
shares.
Certain
securities
issued
by
companies
in
emerging
market
countries
may
have
more
than
one
quoted
valuation
at
any
given
point
in
time,
sometimes
referred
to
as
a
“local”
price
and
a
“premium”
price.
The
premium
price
is
often
a
negotiated
price,
which
may
not
consistently
represent
a
price
at
which
a
specific
transaction
can
be
affected.
It
is
the
policy
of
the
Fund
to
value
such
securities
at
prices
at
which
it
is
expected
those
shares
may
be
sold,
and
the
Manager
or
any
Sub-Advisor
is
authorized
to
make
such
determinations
subject
to
such
oversight
by
the
Fund’s
Board
of
Trustees
as
may
occasionally
be
necessary.
Fair
value
is
defined
as
the
price
that
the
Fund
would
receive
upon
selling
a
security
in
a
timely
transaction
to
an
independent
buyer
in
the
principal
or
most
advantageous
market
of
the
security
at
the
measurement
date.
In
determining
fair
value,
the
Fund
may
use
one
or
more
of
the
following
approaches:
market,
income
and/or
cost.
A
hierarchy
for
inputs
is
used
in
measuring
fair
value
that
maximizes
the
use
of
observable
inputs
and
minimizes
the
use
of
unobservable
inputs
by
requiring
that
the
most
observable
inputs
be
used
when
available.
Observable
inputs
are
inputs
that
reflect
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability
developed
based
on
market
data
obtained
from
sources
independent
of
the
Fund.
Unobservable
inputs
are
inputs
that
reflect
the
Fund’s
own
estimates
about
the
estimates
market
participants
would
use
in
pricing
the
asset
or
liability
developed
based
on
the
best
information
available
in
the
circumstances.
The
three-tier
hierarchy
of
inputs
is
summarized
in
the
three
broad
levels
listed
below.
Level
1
–
Quoted
prices
are
available
in
active
markets
for
identical
securities
as
of
the
reporting
date.
The
type
of
securities
included
in
Level
1
includes
listed
equities
and
listed
derivatives.
Level
2
–
Other
significant
observable
inputs
(including
quoted
prices
for
similar
investments,
interest
rates,
prepayments
speeds,
credit
risk,
etc.).
Investments
which
are
generally
included
in
this
category
include
certain
foreign
equities,
corporate
bonds,
senior
floating
rate
interests,
municipal
bonds,
and
US
Government
and
Government
Agency
Obligations.
Level
3
–
Significant
unobservable
inputs
(including
the
Fund’s
assumptions
in
determining
the
fair
value
of
investments).
Investments
which
are
generally
included
in
this
category
include
certain
common
stocks,
corporate
bonds,
mortgage
backed
securities,
preferred
stocks
or
senior
floating
rate
interests.
In
accordance
with
Accounting
Standards
Codification
820
–
Fair
Value
Measurement,
the
Fund
has
elected
to
apply
the
practical
expedient
to
value
its
investments
in
private
investment
funds
at
their
respective
net
asset
value
each
calendar
quarter.
On
non-valuation
days,
the
Valuation
Committee
determines
the
fair
value
of
each
private
investment
fund.
These
investments
are
excluded
from
the
fair
value
hierarchy.
The
availability
of
observable
inputs
can
vary
from
security
to
security
and
is
affected
by
a
wide
variety
of
factors,
including,
for
example,
the
type
of
security,
whether
the
security
is
new
and
not
yet
established
in
the
market
place,
and
other
characteristics
particular
to
the
June
30,
2020
(unaudited)
transaction.
To
the
extent
that
valuation
is
based
on
models
or
inputs
that
are
less
observable
or
unobservable
in
the
market,
the
determination
of
fair
value
requires
more
judgment.
Accordingly,
the
degree
of
judgment
exercised
by
the
Fund
in
determining
fair
value
is
greatest
for
instruments
categorized
in
Level
3.
In
certain
cases,
the
inputs
used
to
measure
fair
value
may
fall
into
different
levels
of
the
fair
value
hierarchy.
In
such
cases,
for
disclosure
purposes,
the
level
in
the
fair
value
hierarchy
within
which
the
fair
value
measurement
in
its
entirety
falls
is
determined
based
on
the
lowest
level
input
that
is
significant
to
the
fair
value
measurement
in
its
entirety.
Fair
value
is
a
market-based
measure
considered
from
the
perspective
of
a
market
participant
who
holds
the
asset
rather
than
an
entity
specific
measure.
Therefore,
even
when
market
assumptions
are
not
readily
available,
the
Fund’s
own
assumptions
are
set
to
reflect
those
that
market
participants
would
use
in
pricing
the
asset
or
liability
at
the
measurement
date.
The
Fund
uses
prices
and
inputs
that
are
current
as
of
the
measurement
date,
when
available.
Investments
which
are
included
in
the
Level
3
category
may
be
valued
using
quoted
prices
from
brokers
and
dealers
participating
in
the
market
for
these
investments.
These
investments
are
classified
as
Level
3
investments
due
to
the
lack
of
market
transparency
and
market
corroboration
to
support
these
quoted
prices.
Valuation
models
may
be
used
as
the
pricing
source
for
other
investments
classified
as
Level
3.
Valuation
models
rely
on
one
or
more
significant
unobservable
inputs
such
as
prepayment
rates,
probability
of
default,
or
loss
severity
in
the
event
of
default.
Significant
increases
in
any
of
those
inputs
in
isolation
would
result
in
a
significantly
lower
fair
value
measurement.
Benchmark
pricing
procedures
set
the
base
price
of
a
security
based
on
current
market
data.
The
base
price
may
be
a
broker-dealer
quote,
transaction
price,
or
internal
value
based
on
relevant
market
data.
The
fair
values
of
these
securities
are
dependent
on
economic,
political
and
other
considerations.
The
values
of
such
securities
may
be
affected
by
significant
changes
in
the
economic
conditions,
changes
in
government
policies,
and
other
factors
(e.g.,
natural
disasters,
accidents,
conflicts,
etc.).
Fair
value
of
these
investments
is
determined
in
good
faith
by
the
Manager
under
procedures
established
and
periodically
reviewed
by
the
Fund’s
Board
of
Trustees.
The
Manager
has
established
a
valuation
committee
(“Valuation
Committee”)
of
senior
officers
and
employees,
with
the
responsibility
of
overseeing
the
pricing
and
valuation
of
all
securities,
including
securities
where
market
quotations
are
not
readily
available.
The
Valuation
Committee
meets
at
least
monthly
and
reports
directly
to
the
Board
of
Trustees.
A
pricing
group
(the
“Pricing
Group”)
who
reports
to
the
Valuation
Committee,
relies
on
the
established
pricing
policies
to
determine
fair
valuation.
Included
in
the
pricing
policies
is
an
overview
of
the
approved
valuation
approaches
established
for
each
asset
class.
The
Pricing
Group
will
consider
all
appropriate
information
available
when
determining
fair
valuation.
The
Pricing
Group
relies
on
externally
provided
valuation
inputs
to
determine
the
value
of
Level
3
securities.
Security
values
are
updated
as
new
information
becomes
available.
Valuation
data
and
changes
in
valuation
amounts
are
reviewed
on
a
daily
basis
based
on
specified
criteria
for
the
security,
asset
class,
and
other
factors.
In
addition,
valuation
data
is
periodically
compared
to
actual
transactions
executed
by
the
Fund
(i.e.,
purchases/sales)
and
differences
between
transaction
prices
and
prior
period
valuation
data
are
investigated
based
on
specified
tolerances.
The
inputs
or
methodology
used
for
valuing
securities
are
not
necessarily
an
indication
of
the
risk
associated
with
investing
in
those
instruments.
Fund
Level
1
-
Quoted
Prices
Level
2
-
Other
Significant
Observable
Inputs
Level
3
-
Significant
Unobservable
Inputs
Totals
(Level
1,2,3)
Principal
Diversified
Select
Real
Asset
Fund
Bonds*
$
—
$
31,845
$
—
$
31,845
Common
Stocks
Basic
Materials
2,957
4,119
—
7,076
Communications
—
88
—
88
Consumer,
Cyclical
—
64
—
64
Consumer,
Non-cyclical
1,610
1,784
—
3,394
Energy
10,690
3,908
—
14,598
Financial
7,641
6,309
—
13,950
Industrial
4,547
1,660
—
6,207
June
30,
2020
(unaudited)
*For
additional
detail
regarding
sector
classifications,
please
see
the
Schedule
of
Investments.
Certain
detailed
information
is
provided
for
those
Funds
with
significant
investments
in
Level
3
securities.
Quantitative
information
about
the
significant
unobservable
inputs
used
in
the
fair
value
measurements
categorized
within
Level
3
of
the
fair
value
hierarchy
is
as
follows
(amounts
in
thousands):
The
changes
in
investments
measured
at
fair
value
for
which
Level
3
inputs
have
been
used
to
determine
fair
value
are
as
follows
(amounts
in
thousands):
*Securities
are
transferred
into
Level
3
for
a
variety
of
reasons
including,
but
not
limited
to:
1.
Securities
where
trading
has
been
halted
2.
Securities
that
have
certain
restrictions
on
trading
3.
Instances
in
which
a
security
is
not
priced
by
a
pricing
service
**Securities
are
transferred
out
of
Level
3
for
a
variety
of
reasons
including,
but
not
limited
to:
1.
Securities
where
trading
resumes
2.
Securities
where
trading
restrictions
have
expired
3.
Instances
in
which
a
price
becomes
available
from
a
pricing
service
The
Fund's
Schedule
of
Investments
as
of
June
30,
2020
has
not
been
audited.
This
report
is
provided
for
the
general
information
of
the
Fund's
shareholders.
For
more
information
regarding
the
Fund
and
its
holdings,
please
see
the
Fund's
prospectus
and
annual
report.
Fund
Level
1
-
Quoted
Prices
Level
2
-
Other
Significant
Observable
Inputs
Level
3
-
Significant
Unobservable
Inputs
Totals
(Level
1,2,3)
Principal
Diversified
Select
Real
Asset
Fund
Utilities
$
9,387
$
13,672
$
—
$
23,059
Convertible
Bonds*
—
—
2,286
2,286
Convertible
Preferred
Stocks
Energy
—
—
1,994
1,994
Investment
Companies
8,824
—
—
8,824
Preferred
Stocks
Utilities
274
—
—
274
Senior
Floating
Rate
Interests*
—
511
—
511
Total
$
45,930
$
63,960
$
4,280
$
114,170
Investments
Using
NAV
as
Practical
Expedient
Private
Investment
Funds
16,
971
Total
investments
in
securities
$
131,
141
Fund
Asset
Type
Fair
Value
as
of
June
30,
2020
Valuation
Technique
Unobservable
Input
Input
Valuations
Diversified
Select
Real
Asset
Fund
Convertible
Bonds
$
2,285
Lattice
model
Debt
discount
rate
23.89%
Preferred
Stocks
1,995
Lattice
model
Debt
discount
rate
9.12%
$
4,280
Fair
Value
March
31,
2020
Realized
Gain/
(Loss)
Accrued
Discounts/
Premiums
and
Change
in
Unrealized
Gain/
(Loss)
Purchases
Proceeds
from
Sales
Transfers
into
Level
3*
Transfers
Out
of
Level
3**
Fair
Value
June
30,
2020
Net
Change
in
Unrealized
Appreciation/
(Depreciation)
on
Investments
Held
at
June
30,
2020
Diversified
Select
Real
Asset
Fund
Convertible
Bonds
$
—
$
—
$
508
$
1,777
$
—
$
—
$
—
$
2,285
$
508
Preferred
Stocks
—
—
747
—
—
1,248
—
1,995
747
Total
$
—
$
—
$
1,255
$
1,777
$
—
$
1,248
$
—
$
4,280
$
1,255