Investment objective & strategy
As of Dec. 27, 2024 · 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 equity securities of companies with medium market capitalizations (MidCap). For this Fund, companies with medium market capitalizations (MidCap) are those with market capitalizations within the range of companies in the Russell MidCap Index (as of November 30, 2024, this was between approximately $425.8 billion and $149.4 trillion). The Fund invests in real estate investment trust (REIT) securities. The Fund invests in equity securities with value and/or growth characteristics and constructs an investment portfolio that has a blend of equity securities with these characteristics. Investing in value equity securities is an investment strategy that emphasizes buying equity securities that appear to … Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies with medium market capitalizations (MidCap). For this Fund, companies with medium market capitalizations (MidCap) are those with market capitalizations within the range of companies in the Russell MidCap Index (as of November 30, 2024, this was between approximately $425.8 billion and $149.4 trillion). The Fund invests in real estate investment trust (REIT) securities. The Fund invests in equity securities with value and/or growth characteristics and constructs an investment portfolio that has a blend of equity securities with these characteristics. Investing in value equity securities is an investment strategy that emphasizes buying equity securities that appear to be undervalued. The growth orientation selection emphasizes buying equity securities of companies whose potential for growth of capital and earnings is expected to be above average. The Fund does not have a policy of preferring one of these categories over the other.
Top holdings
As of Aug. 31, 2025 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NVENT ELECTRIC | — | $1.78M | 3.36% |
| TRACTOR SUPPLY CO. | — | $1.70M | 3.21% |
| LIVE NATION ENTERTAINMENT INC | — | $1.68M | 3.18% |
| LINCOLN ELECTRIC HLDGS INC | — | $1.61M | 3.05% |
| CASEY'S GENERAL | — | $1.60M | 3.02% |
| MONOLITHIC POWER SYS INC | — | $1.58M | 2.98% |
| STERIS PLC | — | $1.48M | 2.79% |
| HAMILTON LANE INC - A | — | $1.41M | 2.66% |
| CLOUDFLARE INC-A | — | $1.41M | 2.66% |
| MSA SAFETY INC | — | $1.41M | 2.66% |
Portfolio moves
May 31, 2025 → Aug 31, 2025How 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. |
|---|---|---|
| Small-MidCap Dividend Income Fund · PMDAX, PMDIX, PMDDX, PMDHX | 29% | 0.78% |
| MidCap Growth Fund III · PPQMX, PPQPX, PPIMX, PPQJX | 14% | 0.80% |
| THE HARTFORD MIDCAP FUND · HFMCX, HMDCX, HMDYX, HFMIX, HFMRX, HFMSX, HFMTX, HFMVX, HMDFX | 14% | 0.76% |
Advisers
| Firm | Role |
|---|---|
| Principal Global Investors, LLC | Adviser |
Footnotes
- Expense ratio as of December 27, 2024, from the fund's prospectus.
- Net assets and holdings count as of August 31, 2025, from the fund's N-PORT filing.
- Total return for calendar year 2024, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2024 (the latest prospectus does not yet chart this year).
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.