Investment objective & strategy
As of Feb. 27, 2026 · prospectusObjective. The Fund seeks long-term growth of capital.
Strategy. Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in growth equity securities of companies with small market capitalizations. For this Fund, growth equity securities of companies with small market capitalizations are (i) those with market capitalizations within the range of companies comprising the Russell 2000 Index (as of January 30, 2026, this range was between $10.0 million and $38.2 billion) and (ii) included within at least one of the following growth indices: the MSCI All Country World IMI Growth Index, the S&P 1500 Growth Index, or the Russell 3000 Growth Index. The Fund is primarily actively managed by the sub-advisors. In addition, Principal Global Investors, LLC may invest up … Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in growth equity securities of companies with small market capitalizations. For this Fund, growth equity securities of companies with small market capitalizations are (i) those with market capitalizations within the range of companies comprising the Russell 2000 Index (as of January 30, 2026, this range was between $10.0 million and $38.2 billion) and (ii) included within at least one of the following growth indices: the MSCI All Country World IMI Growth Index, the S&P 1500 Growth Index, or the Russell 3000 Growth Index. The Fund is primarily actively managed by the sub-advisors. In addition, Principal Global Investors, LLC may invest up to 30% of the Funds assets using an index sampling strategy designed to match the performance of the Russell 2000 Growth Index.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Principal Government Money Market Fund - Class R-6 | — | $74.40M | 3.35% |
| BLOOM ENERGY CORP CL A | — | $42.96M | 1.94% |
| GUARDANT HEALTH INC | — | $38.95M | 1.75% |
| KRATOS DEFENSE and SEC SOLTN INC | — | $36.81M | 1.66% |
| MODINE MFG CO | — | $32.68M | 1.47% |
| CREDO TECHNOLOGY | — | $32.38M | 1.46% |
| FABRINET | — | $31.50M | 1.42% |
| RAMBUS INC | — | $30.90M | 1.39% |
| SITIME CORP | — | $29.16M | 1.31% |
| SPX TECHNOLOGIES INC | — | $26.54M | 1.20% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Emerald Growth Fund | 44% | 0.78% |
| AB Small Cap Growth Portfolio · QUASX, QUACX, QUAYX, QUARX, QUAKX, QUAIX, QUAZX | 41% | 0.78% |
| AVIP AB Small Cap Portfolio | 38% | 0.88% |
Advisers
| Firm | Role |
|---|---|
| Brown Advisory LLC | Sub-adviser |
| Principal Global Investors, LLC | Adviser |
| Emerald Advisors Inc | Sub-adviser |
| AllianceBernstein L.P. | Sub-adviser |
Footnotes
- Expense ratio as of February 27, 2026, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.