Investment objective & strategy
As of Feb. 26, 2025 · 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. For this Fund, companies with medium market capitalizations are those with market capitalizations within the range of companies comprising the Russell MidCap Growth Index (as of January 31, 2025, this range was between approximately $1.5 billion and $183.7 billion). The Fund invests in growth equity securities, an investment strategy that emphasizes buying equity securities of companies whose potential for growth of capital and earnings is expected to be above average. The Funds strategies may result in the active and frequent trading of the Funds portfolio securities. 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. For this Fund, companies with medium market capitalizations are those with market capitalizations within the range of companies comprising the Russell MidCap Growth Index (as of January 31, 2025, this range was between approximately $1.5 billion and $183.7 billion). The Fund invests in growth equity securities, an investment strategy that emphasizes buying equity securities of companies whose potential for growth of capital and earnings is expected to be above average. The Funds strategies may result in the active and frequent trading of the Funds portfolio securities.
Top holdings
As of July 31, 2025 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Principal Government Money Market Fund - Class R-6 | — | $6.79M | 3.42% |
| DATADOG INC CL A | — | $6.23M | 3.14% |
| EVERCORE INC A | — | $5.67M | 2.85% |
| ALNYLAM PHARMACEUTICALS INC | — | $5.31M | 2.67% |
| ROYAL CARIBBEAN | — | $5.26M | 2.65% |
| INTERACTIVE BROKERS GROUP INC | — | $5.08M | 2.56% |
| FASTENAL CO | — | $5.07M | 2.55% |
| DOORDASH INC-A | — | $4.84M | 2.44% |
| VEEVA SYSTEMS-A | — | $4.73M | 2.38% |
| GE VERNOVA LLC | — | $4.58M | 2.30% |
Portfolio moves
Apr 30, 2025 → Jul 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. |
|---|---|---|
| Heritage Fund · TWHIX, ATHAX, ATHIX, AHGCX, ATHWX, ATHDX, ATHGX, ATHYX, ACILX | 30% | 0.00% |
| MidCap Growth Fund III · PPQMX, PPQPX, PPIMX, PPQJX | 29% | 0.80% |
| CIBC ATLAS MID CAP EQUITY FUND · AWMIX, AWMVX | 26% | 0.82% |
Advisers
| Firm | Role |
|---|---|
| Principal Global Investors, LLC | Adviser |
Footnotes
- Expense ratio as of February 26, 2025, from the fund's prospectus.
- Net assets and holdings count as of July 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.