Principal Financial Group Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 31, 2025), Principal Financial Group Inc. reported 2,208 stock positions worth $183.4 billion. Its top holding was Microsoft (MSFT) at 3.6% of the portfolio, followed by Apple (AAPL, 3.0%) and Nvidia (NVDA, 2.6%). Compared with Q3 2024, it opened 45 new positions, sold out of 60, added to 1,122 and reduced 1,026. The biggest buy was iShares Core S&P 500 ETF (IVV, shares +138%) and the biggest sale Adobe (ADBE, shares −62%).
- Most Recent 13F
- Q2 2026
- Location
- DES MOINES, IA
- CIK
- 0001126328
- Portfolio Value
- $183.4B (Q4 2024)
- SEC Filing
- 0001085146-25-000661 ↗ filed Jan 31, 2025
Holdings Value
Holdings 2,208 stocks · $183.4B
| MSFT Microsoft Corp. | 3.58% | 15,599,352 | $6.6B | Reduce -0.3% |
| AAPL Apple Inc. | 2.97% | 21,727,015 | $5.4B | Reduce -0.7% |
| NVDA Nvidia Corp. | 2.58% | 35,261,512 | $4.7B | Reduce -1.0% |
| AMZN Amazon.com Inc. | 2.38% | 19,861,019 | $4.4B | Reduce -1.5% |
| BN Brookfield Corp. | 1.64% | 52,285,987 | $3.0B | Reduce -11.5% |
| KKR KKR & Co. Inc. | 1.53% | 18,928,806 | $2.8B | Reduce -8.5% |
| TDG Transdigm Group Inc. | 1.47% | 2,126,274 | $2.7B | Add +9.6% |
| HLT Hilton Worldwide Holdings Inc. | 1.40% | 10,391,135 | $2.6B | Reduce -3.4% |
| CPRT Copart Inc. | 1.19% | 38,159,690 | $2.2B | Reduce -1.8% |
| GOOGL Alphabet Inc. Class A | 1.19% | 11,486,549 | $2.2B | Add +1.8% |
| ORLY O'reilly Automotive Inc. | 1.16% | 1,792,969 | $2.1B | Reduce -1.8% |
| GOOG Alphabet Inc. Class C | 1.08% | 10,410,931 | $2.0B | Reduce -5.6% |
| META Meta Platforms Inc. Class A | 1.07% | 3,345,656 | $2.0B | Reduce -0.7% |
| HEI.A Heico Corp. Class A | 1.07% | 10,502,755 | $2.0B | Reduce -1.0% |
| AVGO Broadcom Inc. | 1.02% | 8,061,598 | $1.9B | Add +12.2% |
| USMC Principal US Mega-Cap ETF | 1.01% | 31,076,346 | $1.9B | Reduce -7.8% |
| EQIX Equinix Inc. | 1.00% | 1,938,572 | $1.8B | Add +2.4% |
| V Visa Inc. Class A | 0.94% | 5,474,710 | $1.7B | Reduce -4.5% |
| VMC Vulcan Materials Co. | 0.85% | 6,062,201 | $1.6B | Add +13.9% |
| TSLA Tesla Inc. | 0.83% | 3,784,601 | $1.5B | Add +3.7% |
| WELL Welltower Inc. | 0.82% | 11,908,639 | $1.5B | Reduce -2.2% |
| MA Mastercard Inc. Class A | 0.80% | 2,801,602 | $1.5B | Reduce -7.6% |
| NFLX Netflix Inc. | 0.77% | 1,590,298 | $1.4B | Reduce -6.0% |
| CSGP Costar Group Inc. | 0.75% | 19,186,275 | $1.4B | Reduce -1.0% |
| ROP Roper Technologies Inc. | 0.73% | 2,592,118 | $1.3B | Reduce -3.6% |
| JPM JPMorgan Chase & Co. | 0.73% | 5,578,586 | $1.3B | Reduce -4.2% |
| BRO Brown & Brown Inc. | 0.72% | 12,901,968 | $1.3B | Add +0.7% |
| IVV iShares Core S&P 500 ETF | 0.70% | 2,177,162 | $1.3B | Add +137.7% |
| PLD Prologis Inc. | 0.68% | 11,873,109 | $1.3B | Reduce -1.4% |
| PGR Progressive Corp. | 0.66% | 5,064,928 | $1.2B | Reduce -5.7% |
| COST Costco Wholesale Corp. | 0.63% | 1,261,508 | $1.2B | Reduce -3.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.61% | 2,483,876 | $1.1B | Reduce -0.5% |
| VTR Ventas Inc. | 0.60% | 18,641,375 | $1.1B | Reduce -1.2% |
| AMT American Tower Corp. | 0.59% | 5,916,416 | $1.1B | Reduce -3.7% |
| AVB Avalonbay Communities Inc. | 0.55% | 4,590,539 | $1.0B | Add +0.6% |
| EXR Extra Space Storage Inc. | 0.55% | 6,699,856 | $1.0B | Reduce -0.2% |
| CBRE CBRE Group Inc. Class A | 0.54% | 7,601,790 | $998.0M | Add +2.4% |
| LLY Eli Lilly & Co. | 0.54% | 1,291,458 | $997.0M | Add +6.9% |
| UNH Unitedhealth Group Inc. | 0.54% | 1,952,015 | $987.4M | Add +9.8% |
| IT Gartner Inc. | 0.53% | 2,012,799 | $975.1M | Add +0.6% |
| MSCI MSCI Inc. | 0.53% | 1,613,005 | $967.8M | Add +8.0% |
| MKL Markel Group Inc. | 0.52% | 548,219 | $946.4M | Add +0.0% |
| LYV Live Nation Entertainment Inc. | 0.52% | 7,302,199 | $945.6M | Add +1.5% |
| MLM Martin Marietta Materials | 0.51% | 1,819,744 | $939.9M | Add +11.7% |
| FWONK Liberty Media Corp. Class C | 0.48% | 9,487,061 | $879.1M | Add +10.0% |
| BIP Brookfield Infrastructure Pa | 0.46% | 26,675,618 | $848.0M | Add +12.0% |
| INTU Intuit Inc. | 0.45% | 1,324,953 | $832.7M | Reduce -5.6% |
| PG The Procter & Gamble Co. | 0.43% | 4,747,160 | $795.9M | Add +0.3% |
| ACGL Arch Capital Group Ltd. | 0.41% | 8,222,244 | $759.3M | Add +10.5% |
| TYL Tyler Technologies Inc. | 0.40% | 1,277,441 | $736.6M | Reduce -1.1% |
| FICO Fair Isaac Corp. | 0.40% | 365,012 | $726.7M | Reduce -2.0% |
| XOM Exxon Mobil Corp. | 0.39% | 6,652,866 | $715.6M | Reduce -0.8% |
| DPZ Domino's Pizza Inc. | 0.39% | 1,687,863 | $708.5M | Add +1.3% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.39% | 24,202,538 | $707.0M | Add +0.5% |
| KMX Carmax Inc. | 0.38% | 8,591,297 | $702.4M | Add +3.4% |
| DLR Digital Realty Trust Inc. | 0.38% | 3,950,237 | $700.5M | Add +2.0% |
| DHR Danaher Corp. | 0.37% | 2,977,046 | $683.4M | Reduce -2.6% |
| REG Regency Centers Corp. | 0.37% | 9,182,664 | $678.9M | Add +4.2% |
| CDNS Cadence Design SYS Inc. | 0.37% | 2,237,569 | $672.3M | Add +10.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.35% | 14,807,802 | $650.8M | Reduce -3.9% |
| MRK Merck & Co. Inc. | 0.35% | 6,502,635 | $646.9M | Add +2.3% |
| TMO Thermo Fisher Scientific Inc. | 0.35% | 1,216,915 | $633.1M | Reduce -2.5% |
| VEEV Veeva Systems Inc. Class A | 0.34% | 2,964,025 | $623.2M | Add +36.0% |
| INVH Invitation Homes Inc. | 0.34% | 19,460,248 | $622.1M | Reduce -3.0% |
| AMH American Homes 4 Rent- A | 0.33% | 15,987,142 | $598.2M | Add +6.8% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.31% | 2,003,237 | $568.6M | Add +126.2% |
| HD Home Depot Inc. | 0.31% | 1,459,361 | $567.7M | Reduce -0.8% |
| ARES Ares Management Corp. Class A | 0.31% | 3,201,863 | $566.8M | Add +12.4% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.31% | 7,897,863 | $566.7M | Add +2.0% |
| CRM Salesforce Inc. | 0.31% | 1,687,444 | $564.2M | Add +6.7% |
| WMT Walmart Inc. | 0.30% | 6,104,945 | $551.6M | Reduce -2.1% |
| MS Morgan Stanley | 0.29% | 4,237,185 | $532.7M | Reduce -10.1% |
| LIN Linde PLC | 0.29% | 1,255,549 | $525.7M | Reduce -1.1% |
| ADSK Autodesk Inc. | 0.28% | 1,763,761 | $521.3M | Reduce -19.6% |
| YUMC Yum China Holdings Inc. | 0.27% | 10,397,321 | $500.8M | Add +32.2% |
| JNJ Johnson & Johnson | 0.27% | 3,431,982 | $496.3M | Reduce -1.2% |
| ABT Abbott Laboratories | 0.26% | 4,294,472 | $485.7M | Reduce -1.2% |
| BAM Brookfield Asset Mgmt-A | 0.26% | 8,930,366 | $484.0M | Add +0.7% |
| PSC Principal US Small-Cap ETF | 0.26% | 9,428,714 | $482.9M | Reduce -2.0% |
| SCHW Schwab (charles) Corp. | 0.26% | 6,370,445 | $471.5M | Reduce -4.5% |
| KO The Coca-Cola Co. | 0.26% | 7,517,298 | $468.0M | Reduce -1.4% |
| FAST Fastenal Co. | 0.25% | 6,423,020 | $461.9M | Reduce -1.1% |
| BLK BlackRock Inc. | 0.25% | 439,072 | $450.1M | Reduce -1.4% |
| PH Parker Hannifin Corp. | 0.24% | 699,730 | $445.0M | Reduce -10.9% |
| ABBV Abbvie Inc. | 0.24% | 2,465,803 | $438.2M | Reduce -0.9% |
| MCHP Microchip Technology Inc. | 0.24% | 7,638,536 | $438.1M | Reduce -8.6% |
| NVR NVR Inc. | 0.24% | 53,538 | $437.9M | Add +3.0% |
| TT Trane Technologies PLC | 0.24% | 1,177,456 | $434.9M | Reduce -4.4% |
| ESS Essex Property Trust Inc. | 0.23% | 1,494,298 | $426.5M | Add +5.0% |
| LEN Lennar Corp. Class A | 0.23% | 3,123,325 | $425.9M | Add +9.5% |
| H Hyatt Hotels Corp. Class A | 0.23% | 2,694,357 | $423.0M | Add +1.8% |
| PNC PNC Financial Services Group | 0.23% | 2,173,924 | $419.2M | Reduce -4.5% |
| TMUS T-Mobile US Inc. | 0.23% | 1,891,472 | $417.5M | Reduce -4.4% |
| CVX Chevron Corp. | 0.23% | 2,875,164 | $416.4M | Reduce -1.6% |
| CUZ Cousins Properties Inc. | 0.23% | 13,491,300 | $413.4M | Add +11.1% |
| NEE Nextera Energy Inc. | 0.22% | 5,656,964 | $405.5M | Reduce -2.8% |
| ELS Equity Lifestyle Properties | 0.22% | 6,070,817 | $404.3M | Add +172.0% |
| SBAC SBA Communications Corp. | 0.22% | 1,965,522 | $400.6M | Reduce -52.6% |
| REXR Rexford Industrial Realty Inc. | 0.22% | 10,287,184 | $397.7M | Reduce -4.0% |
| DE Deere & Co. | 0.21% | 929,815 | $394.0M | Add +0.8% |
Portfolio Sells Q3 2024 → Q4 2024
| ADBE Adobe Inc. | Reduce -62.4% | 0.17% | −0.35 |
| SBAC SBA Communications Corp. | Reduce -52.6% | 0.22% | −0.33 |
| ARE Alexandria Real Estate Equit | Reduce -63.9% | 0.09% | −0.21 |
| AMT American Tower Corp. | Reduce -3.7% | 0.59% | −0.19 |
| SUI Sun Communities Inc. | Reduce -93.9% | 0.01% | −0.17 |
| PLD Prologis Inc. | Reduce -1.4% | 0.68% | −0.15 |
| MCHP Microchip Technology Inc. | Reduce -8.6% | 0.24% | −0.13 |
| BDX Becton Dickinson and Co. | Reduce -72.1% | 0.04% | −0.11 |
| HEI.A Heico Corp. Class A | Reduce -1.0% | 1.07% | −0.11 |
| EXR Extra Space Storage Inc. | Reduce -0.2% | 0.55% | −0.11 |
| MSFT Microsoft Corp. | Reduce -0.3% | 3.58% | −0.09 |
| DHR Danaher Corp. | Reduce -2.6% | 0.37% | −0.09 |
| PGR Progressive Corp. | Reduce -5.7% | 0.66% | −0.08 |
| ROP Roper Technologies Inc. | Reduce -3.6% | 0.73% | −0.08 |
| REXR Rexford Industrial Realty Inc. | Reduce -4.0% | 0.22% | −0.08 |
| BN Brookfield Corp. | Reduce -11.5% | 1.64% | −0.08 |
| TMO Thermo Fisher Scientific Inc. | Reduce -2.5% | 0.35% | −0.08 |
| VRSN Verisign Inc. | Reduce -66.0% | 0.04% | −0.07 |
| AMD Advanced Micro Devices | Reduce -6.0% | 0.16% | −0.07 |
| ADC Agree Realty Corp. | Reduce -34.8% | 0.10% | −0.07 |
| MDT Medtronic PLC | Reduce -44.7% | 0.06% | −0.07 |
| SUM Summit Materials Inc. Class A | Reduce -67.5% | 0.05% | −0.07 |
| VTR Ventas Inc. | Reduce -1.2% | 0.60% | −0.06 |
| COLD Americold Realty Trust Inc. | Reduce -0.1% | 0.18% | −0.06 |
| DHI D.R. Horton Inc. | Reduce -2.8% | 0.13% | −0.05 |
| PFE Pfizer Inc. | Reduce -29.5% | 0.09% | −0.05 |
| TECK Teck Resources Ltd.-CLS B | Reduce -1.1% | 0.16% | −0.05 |
| CSGP Costar Group Inc. | Reduce -1.0% | 0.75% | −0.05 |
| REGN Regeneron Pharmaceuticals | Reduce -24.6% | 0.05% | −0.05 |
| IEMG iShares Core MSCI Emerging | Reduce -97.2% | 0.00% | −0.05 |
| NEE Nextera Energy Inc. | Reduce -2.8% | 0.22% | −0.05 |
| INVH Invitation Homes Inc. | Reduce -3.0% | 0.34% | −0.05 |
| NNN NNN REIT Inc. | Reduce -14.8% | 0.12% | −0.05 |
| ADSK Autodesk Inc. | Reduce -19.6% | 0.28% | −0.05 |
| MIDD Middleby Corp. | Reduce -82.6% | 0.01% | −0.04 |
| KO The Coca-Cola Co. | Reduce -1.4% | 0.26% | −0.04 |
| LIN Linde PLC | Reduce -1.1% | 0.29% | −0.04 |
| CP Canadian Pacific Kansas City | Reduce -20.5% | 0.09% | −0.04 |
| CMCSA Comcast Corp. Class A | Reduce -13.9% | 0.14% | −0.04 |
| IDXX Idexx Laboratories Inc. | Reduce -2.6% | 0.16% | −0.04 |
| XOM Exxon Mobil Corp. | Reduce -0.8% | 0.39% | −0.04 |
| SHW The Sherwin-Williams Co. | Reduce -7.7% | 0.18% | −0.04 |
| KDP Keurig Dr Pepper Inc. | Reduce -55.2% | 0.02% | −0.04 |
| JNJ Johnson & Johnson | Reduce -1.2% | 0.27% | −0.04 |
| MPC Marathon Petroleum Corp. | Reduce -5.0% | 0.15% | −0.04 |
| MCO Moody's Corp. | Reduce -15.1% | 0.19% | −0.04 |
| USMC Principal US Mega-Cap ETF | Reduce -7.8% | 1.01% | −0.03 |
| DRH Diamondrock Hospitality Co. | Reduce -87.3% | 0.01% | −0.03 |
| WELL Welltower Inc. | Reduce -2.2% | 0.82% | −0.03 |
| AVY Avery Dennison Corp. | Reduce -32.3% | 0.04% | −0.03 |
Portfolio Buys Q3 2024 → Q4 2024
| IVV iShares Core S&P 500 ETF | Add +137.7% | 0.70% | +0.41 |
| AVGO Broadcom Inc. | Add +12.2% | 1.02% | +0.34 |
| TSLA Tesla Inc. | Add +3.7% | 0.83% | +0.31 |
| DOC Healthpeak Properties Inc. | Add +2113.5% | 0.20% | +0.19 |
| AJG Arthur J Gallagher & Co. | Add +126.2% | 0.31% | +0.17 |
| GOOGL Alphabet Inc. Class A | Add +1.8% | 1.19% | +0.16 |
| ELS Equity Lifestyle Properties | Add +172.0% | 0.22% | +0.13 |
| VMC Vulcan Materials Co. | Add +13.9% | 0.85% | +0.12 |
| FWONK Liberty Media Corp. Class C | Add +10.0% | 0.48% | +0.11 |
| PCOR Procore Technologies Inc. | Add +29376.1% | 0.11% | +0.11 |
| VEEV Veeva Systems Inc. Class A | Add +36.0% | 0.34% | +0.09 |
| ABNB Airbnb Inc. Class A | Add +174.3% | 0.13% | +0.09 |
| VNO Vornado Realty Trust | Add +126.8% | 0.15% | +0.09 |
| LYV Live Nation Entertainment Inc. | Add +1.5% | 0.52% | +0.09 |
| EQIX Equinix Inc. | Add +2.4% | 1.00% | +0.08 |
| YUMC Yum China Holdings Inc. | Add +32.2% | 0.27% | +0.08 |
| CRM Salesforce Inc. | Add +6.7% | 0.31% | +0.07 |
| CDNS Cadence Design SYS Inc. | Add +10.7% | 0.37% | +0.07 |
| ARES Ares Management Corp. Class A | Add +12.4% | 0.31% | +0.07 |
| HCA HCA Healthcare Inc. | Add +120.1% | 0.14% | +0.05 |
| AHR American Healthcare REIT Inc. | Add +29.0% | 0.19% | +0.05 |
| WDAY Workday Inc. Class A | Add +2166.1% | 0.06% | +0.05 |
| MSCI MSCI Inc. | Add +8.0% | 0.53% | +0.05 |
| NOW ServiceNow Inc. | Add +20.7% | 0.17% | +0.05 |
| GLDM SPDR Gold Minishares Trust | New | 0.05% | +0.05 |
| SU Suncor Energy Inc. | Add +39.9% | 0.19% | +0.05 |
| SHO Sunstone Hotel Investors Inc. | Add +645.6% | 0.05% | +0.05 |
| MKL Markel Group Inc. | Add +0.0% | 0.52% | +0.05 |
| APO Apollo Global Management Inc. | Add +813.6% | 0.05% | +0.04 |
| FND Floor & Decor Holdings Inc. Class A | Add +172.0% | 0.08% | +0.04 |
| DLR Digital Realty Trust Inc. | Add +2.0% | 0.38% | +0.04 |
| CBRE CBRE Group Inc. Class A | Add +2.4% | 0.54% | +0.04 |
| LRN Stride Inc. | Add +293.1% | 0.05% | +0.04 |
| MWA Mueller Water Products Inc. Class A | Add +2962.3% | 0.04% | +0.04 |
| BAM Brookfield Asset Mgmt-A | Add +0.7% | 0.26% | +0.03 |
| MLM Martin Marietta Materials | Add +11.7% | 0.51% | +0.03 |
| RYAN Ryan Specialty Holdings Inc. | Add +115.2% | 0.06% | +0.03 |
| CW Curtiss-Wright Corp. | Add +170.2% | 0.05% | +0.03 |
| KMX Carmax Inc. | Add +3.4% | 0.38% | +0.03 |
| RS Reliance Inc. | Add +53.5% | 0.11% | +0.03 |
| CUZ Cousins Properties Inc. | Add +11.1% | 0.23% | +0.03 |
| BA The Boeing Co. | Add +26.9% | 0.08% | +0.03 |
| PANW Palo Alto Networks Inc. | Add +26.4% | 0.10% | +0.03 |
| DOCU Docusign Inc. | Add +3026.7% | 0.03% | +0.03 |
| TEL Te Connectivity PLC | New | 0.03% | +0.03 |
| ZLAB Zai Lab Ltd.-ADR | New | 0.03% | +0.03 |
| AGYS Agilysys Inc. | Add +268.0% | 0.03% | +0.02 |
| NX Quanex Building Products | Add +779.2% | 0.03% | +0.02 |
| REG Regency Centers Corp. | Add +4.2% | 0.37% | +0.02 |
| URTH iShares MSCI World ETF | Add +233.8% | 0.03% | +0.02 |
Notes & Other Activity Q3 2024 → Q4 2024
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% | Sold out | 28,578 | $1.8Mbefore exit |
| SEAPORT ENTERTAINMENT GR-RTS | RIGHT 10/10/2024 | Sold out | 18,137 | $54Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 2,154 | $203.6B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q1 2026 | 2,177 | $187.2B | NVDA, MSFT, AAPL, AMZN, GOOGL |
| Q4 2025 | 2,180 | $195.9B | NVDA, MSFT, AAPL, AMZN, GOOGL |
| Q3 2025 | 2,246 | $198.3B | MSFT, NVDA, AAPL, AMZN, BN |
| Q2 2025 | 2,224 | $189.2B | MSFT, NVDA, AMZN, AAPL, BN |
| Q1 2025 | 2,171 | $178.2B | MSFT, AAPL, NVDA, AMZN, TDG |
| Q4 2024 | 2,208 | $183.4B | MSFT, AAPL, NVDA, AMZN, BN |
| Q3 2024Amended | 2,220 | $183.2B | MSFT, AAPL, NVDA, AMZN, BN |
| Q2 2024 | 2,360 | $168.4B | MSFT, AAPL, NVDA, AMZN, TDG |
| Q1 2024 | 2,425 | $170.1B | MSFT, AMZN, AAPL, NVDA, TDG |