PRINCIPAL FINANCIAL GROUP INC

CIK 0001126328 · Q1 2026

13F Equity AUM

$187.2B

-4.4% QoQ

Positions

2,127

-22 QoQ

AUM Rank

#91

Top 0.7%

Skill Alpha (FF)

-0.7%/yr^ns

No Clear Edge

Rank #3,300 · Top 40%

vs S&P -3.2%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 13.4%Top 10: 19.8%Top 20: 29.6%

NVDA3.7%

MSFT3.0%

AAPL2.9%

AMZN2.1%

GOOGL1.7%

AVGO1.4%

BN1.4%

META1.3%

T7D1.3%

GOOG1.1%

Others (2117)80.2%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology20.0%

Financial Services17.5%

Real Estate11.5%

Consumer Cyclical10.0%

Industrials8.2%

Communication Services7.6%

Healthcare7.5%

Basic Materials4.4%

Other13.4%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 2127Median: 0.01%Avg: 0.05%

0–0.5%

2086(57.2%)

0.5–1%

27(18.9%)

1–3%

13(20.3%)

3–5%

1(3.7%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 2,116Unique: 11vs 20 funds

28.9%Moderate

2,127

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

40%

BANK OF AMERICA CORP /DE/

43.6%

BlackRock, Inc.

51.3%

JPMORGAN CHASE & CO

40.8%

STATE STREET CORP

56.1%

GEODE CAPITAL MANAGEMENT, LLC

55.3%

VANGUARD CAPITAL MANAGEMENT LLC

55.5%

VANGUARD PORTFOLIO MANAGEMENT LLC

64%

FMR LLC

54.8%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New134Increased1369Decreased658Exited139

New Positions

SUNBELT RENTALS HOLD…0.2%

+6.6M

AZN0.1%

+487K

TBBB0.0%

+1.9M

VWOB0.0%

+1.1M

FORGENT POWER SOLUTI…0.0%

+1.8M

TPC0.0%

+774K

PNFP0.0%

+336K

JANUS LIVING INC0.0%

+1.5M

FLJP0.0%

+662K

INDV0.0%

+767K

Increased

HDB0.2%

+17.9M(+16809%)

GRABW0.0%

+8.2M(+63%)

NG0.0%

+5.7M(+32406%)

VALE0.0%

+4.9M(+1287%)

BAM0.3%

+4.9M(+62%)

TUYA0.0%

+4.8M(+122%)

BRX0.1%

+4.5M(+686%)

NSY0.3%

+4.3M(+1638%)

TECK/B0.6%

+3.2M(+17%)

AMH0.3%

+3.1M(+20%)

Decreased

DOC0.2%

-7,916,128(-30%)

CPRT0.6%

-7,356,083(-19%)

VICI0.0%

-5,970,218(-77%)

BIP0.5%

-4,427,850(-14%)

FWONK0.4%

-3,761,482(-30%)

ORLY0.9%

-3,560,471(-16%)

INVH0.2%

-3,161,730(-19%)

FAST0.2%

-2,822,940(-24%)

HLT1.1%

-2,768,594(-30%)

CWAN0.0%

-2,512,071(-99%)

Exited

-1,125,252

-725,225

-815,703

-701,052

INDIVIOR PLC

-693,287

-1,088,550

-55,785

-2,989,194

-260,938

-496,317

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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