Investment objective & strategy
As of April 25, 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 small market capitalizations. For this Fund, companies with small market capitalizations are those with market capitalizations within the range of companies comprising the Russell 2000 Index (as of March 31, 2025, this was between approximately $1.2 million and $15.4 billion). Those managing the Funds investments seek to invest in securities of companies that they believe have improving and sustainable business fundamentals, rising investor expectations, and attractive relative valuations. 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 small market capitalizations. For this Fund, companies with small market capitalizations are those with market capitalizations within the range of companies comprising the Russell 2000 Index (as of March 31, 2025, this was between approximately $1.2 million and $15.4 billion). Those managing the Funds investments seek to invest in securities of companies that they believe have improving and sustainable business fundamentals, rising investor expectations, and attractive relative valuations.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Principal Government Money Market Fund - Class R-6 | — | $6.44M | 3.79% |
| ADV ENERGY INDS | — | $4.58M | 2.70% |
| INSMED INC | — | $4.10M | 2.42% |
| MODINE MFG CO | — | $3.64M | 2.14% |
| BRIDGEBIO PHARMA INC | — | $2.99M | 1.76% |
| SOUTHWEST GAS HOLDINGS INC | — | $2.90M | 1.71% |
| PATTERSON-UTI ENERGY INC | — | $2.76M | 1.63% |
| ENERSYS INC | — | $2.64M | 1.56% |
| SITIME CORP | — | $2.62M | 1.55% |
| UMB FINANCIAL CORP | — | $2.54M | 1.49% |
Portfolio moves
Dec 31, 2025 → Mar 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. |
|---|---|---|
| SmallCap Fund · PSBMX, PSBPX, PSLIX, PSBJX, PLLAX, PSMLX | 88% | 0.73% |
| Nuveen Small Cap Growth Opportunities Fund · FRMPX, FIMPX, FMPFX | 22% | 0.81% |
| SmallCap Growth Fund I · PPNMX, PPNPX, PGRTX, PSIJX, PCSMX | 20% | 0.87% |
Advisers
| Firm | Role |
|---|---|
| Principal Global Investors, LLC | Adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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