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 Fund is primarily actively managed by the sub-advisors. In addition, Principal Global Investors, LLC may invest up to 30% of the … 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 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 MidCap Growth Index.
Top holdings
As of July 31, 2025 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| HILTON WORLDWIDE HOLDINGS INC | — | $5.11M | 2.11% |
| DRAFTKINGS INC | — | $4.55M | 1.88% |
| Principal Government Money Market Fund - Class R-6 | — | $4.52M | 1.86% |
| CASEY'S GENERAL | — | $4.49M | 1.85% |
| ROYAL CARIBBEAN | — | $4.28M | 1.76% |
| VERTIV HOLDINGS CO | — | $4.26M | 1.76% |
| TYLER TECHNOLOGIES INC | — | $4.26M | 1.76% |
| DATADOG INC CL A | — | $4.21M | 1.74% |
| MONOLITHIC POWER SYS INC | — | $4.02M | 1.66% |
| DEXCOM INC | — | $3.86M | 1.59% |
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 | 37% | 0.00% |
| Franklin Small-Mid Cap Growth Fund · FRSGX, FRSIX, FSGAX, FSMRX, FMGGX | 35% | 0.51% |
| PSF Mid-Cap Growth Portfolio | 32% | 0.66% |
Advisers
| Firm | Role |
|---|---|
| Robert W. Baird & Co. Incorporated | Sub-adviser |
| Principal Global Investors, LLC | Adviser |
| EAGLE ASSET MANAGEMENT, INC. | Sub-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).
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