Principal Financial Group Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 8, 2025), Principal Financial Group Inc. reported 2,224 stock positions worth $189.2 billion. Its top holding was Microsoft (MSFT) at 4.0% of the portfolio, followed by Nvidia (NVDA, 3.0%) and Amazon.com (AMZN, 2.3%). Compared with Q1 2025, it opened 167 new positions, sold out of 115, added to 695 and reduced 1,347. The biggest buy was Nvidia (NVDA, shares +1%) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −63%).
- Most Recent 13F
- Q2 2026
- Location
- DES MOINES, IA
- CIK
- 0001126328
- Portfolio Value
- $189.2B (Q2 2025)
- SEC Filing
- 0001085146-25-004729 ↗ filed Aug 8, 2025
Holdings Value
Holdings 2,224 stocks · $189.2B
| MSFT Microsoft Corp. | 4.02% | 15,289,310 | $7.6B | Reduce -0.8% |
| NVDA Nvidia Corp. | 2.96% | 35,488,173 | $5.6B | Add +1.3% |
| AMZN Amazon.com Inc. | 2.35% | 20,251,658 | $4.4B | Add +2.9% |
| AAPL Apple Inc. | 2.32% | 21,378,416 | $4.4B | Add +0.1% |
| BN Brookfield Corp. | 1.64% | 50,050,474 | $3.1B | Reduce -1.0% |
| TDG Transdigm Group Inc. | 1.62% | 2,012,060 | $3.1B | Reduce -4.2% |
| HLT Hilton Worldwide Holdings Inc. | 1.49% | 10,588,613 | $2.8B | Add +2.1% |
| META Meta Platforms Inc. Class A | 1.47% | 3,756,181 | $2.8B | Add +14.8% |
| HEI.A Heico Corp. Class A | 1.39% | 10,192,845 | $2.6B | Reduce -4.3% |
| KKR KKR & Co. Inc. | 1.36% | 19,360,216 | $2.6B | Add +5.3% |
| AVGO Broadcom Inc. | 1.29% | 8,834,164 | $2.4B | Reduce -2.1% |
| USMC Principal US Mega-Cap ETF | 1.23% | 37,292,203 | $2.3B | Add +24.0% |
| ORLY O'reilly Automotive Inc. | 1.19% | 24,924,470 | $2.2B | Reduce -6.2% |
| CPRT Copart Inc. | 1.01% | 38,938,957 | $1.9B | Reduce -1.2% |
| VMC Vulcan Materials Co. | 0.99% | 7,210,443 | $1.9B | Add +10.8% |
| GOOGL Alphabet Inc. Class A | 0.98% | 10,499,874 | $1.9B | Reduce -7.0% |
| V Visa Inc. Class A | 0.93% | 4,958,668 | $1.8B | Reduce -5.5% |
| WELL Welltower Inc. | 0.85% | 10,433,664 | $1.6B | Reduce -9.0% |
| NFLX Netflix Inc. | 0.83% | 1,168,196 | $1.6B | Reduce -21.2% |
| JPM JPMorgan Chase & Co. | 0.82% | 5,325,094 | $1.5B | Reduce -1.7% |
| EQIX Equinix Inc. | 0.80% | 1,912,906 | $1.5B | Add +0.6% |
| BRO Brown & Brown Inc. | 0.80% | 13,594,961 | $1.5B | Add +5.1% |
| CSGP Costar Group Inc. | 0.79% | 18,646,649 | $1.5B | Reduce -1.9% |
| ROP Roper Technologies Inc. | 0.75% | 2,499,188 | $1.4B | Reduce -1.2% |
| MA Mastercard Inc. Class A | 0.75% | 2,519,407 | $1.4B | Reduce -4.6% |
| FWONK Liberty Media Corp. Class C | 0.73% | 13,169,459 | $1.4B | Add +13.2% |
| AMT American Tower Corp. | 0.71% | 6,079,336 | $1.3B | Reduce -0.9% |
| CBRE CBRE Group Inc. Class A | 0.64% | 8,658,659 | $1.2B | Add +8.6% |
| LYV Live Nation Entertainment Inc. | 0.64% | 7,962,265 | $1.2B | Add +4.8% |
| TSLA Tesla Inc. | 0.63% | 3,775,379 | $1.2B | Add +4.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.63% | 2,461,808 | $1.2B | Reduce -1.4% |
| COST Costco Wholesale Corp. | 0.63% | 1,202,578 | $1.2B | Add +2.1% |
| GOOG Alphabet Inc. Class C | 0.62% | 6,645,818 | $1.2B | Reduce -34.8% |
| PLD Prologis Inc. | 0.62% | 11,186,579 | $1.2B | Reduce -5.0% |
| MLM Martin Marietta Materials | 0.58% | 2,011,788 | $1.1B | Add +3.7% |
| MKL Markel Group Inc. | 0.57% | 537,692 | $1.1B | Reduce -1.1% |
| VTR Ventas Inc. | 0.53% | 15,801,134 | $997.8M | Reduce -4.0% |
| VEEV Veeva Systems Inc. Class A | 0.53% | 3,458,013 | $995.8M | Add +9.7% |
| BIP Brookfield Infrastructure Pa | 0.51% | 29,042,315 | $972.9M | Add +5.2% |
| LLY Eli Lilly & Co. | 0.51% | 1,241,737 | $968.0M | Reduce -3.3% |
| MSCI MSCI Inc. | 0.51% | 1,668,462 | $962.3M | Add +2.5% |
| PGR Progressive Corp. | 0.49% | 3,498,413 | $933.6M | Reduce -29.2% |
| EXR Extra Space Storage Inc. | 0.49% | 6,309,755 | $930.3M | Reduce -2.6% |
| AVB Avalonbay Communities Inc. | 0.46% | 4,231,804 | $861.2M | Reduce -3.9% |
| PG The Procter & Gamble Co. | 0.42% | 5,044,923 | $803.8M | Reduce -1.7% |
| YUMC Yum China Holdings Inc. | 0.42% | 17,565,181 | $785.6M | Add +24.6% |
| DPZ Domino's Pizza Inc. | 0.41% | 1,731,921 | $780.4M | Reduce -0.5% |
| TYL Tyler Technologies Inc. | 0.40% | 1,266,028 | $750.6M | Reduce -0.9% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.39% | 22,433,475 | $731.3M | Reduce -5.3% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.38% | 2,273,303 | $727.7M | Add +9.8% |
| XOM Exxon Mobil Corp. | 0.38% | 6,634,640 | $715.2M | Reduce -0.3% |
| SU Suncor Energy Inc. | 0.37% | 18,748,156 | $700.9M | Add +17.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.37% | 14,695,881 | $695.4M | Add +2.1% |
| PIEQ Principal Intl Eqty ETF | 0.36% | 23,524,666 | $683.8M | Reduce -5.1% |
| FICO Fair Isaac Corp. | 0.36% | 373,852 | $683.4M | Reduce -4.6% |
| CDNS Cadence Design SYS Inc. | 0.36% | 2,190,987 | $675.2M | Reduce -2.5% |
| REG Regency Centers Corp. | 0.35% | 9,418,345 | $670.9M | Add +4.3% |
| DLR Digital Realty Trust Inc. | 0.35% | 3,785,939 | $660.0M | Reduce -3.3% |
| IT Gartner Inc. | 0.35% | 1,624,033 | $656.5M | Reduce -18.7% |
| UNH Unitedhealth Group Inc. | 0.34% | 2,046,581 | $638.5M | Add +9.1% |
| WMT Walmart Inc. | 0.32% | 6,190,649 | $605.3M | Add +4.0% |
| IDXX Idexx Laboratories Inc. | 0.32% | 1,127,755 | $604.9M | Add +0.2% |
| LPLA LPL Financial Holdings Inc. | 0.32% | 1,596,944 | $598.8M | Add +53.8% |
| INVH Invitation Homes Inc. | 0.32% | 18,220,896 | $597.6M | Reduce -4.5% |
| ARES Ares Management Corp. Class A | 0.31% | 3,439,948 | $595.8M | Add +2.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.31% | 2,616,219 | $592.5M | Add +0.5% |
| KO The Coca-Cola Co. | 0.31% | 8,341,922 | $590.2M | Add +12.3% |
| LIN Linde PLC | 0.31% | 1,253,175 | $588.0M | Reduce -2.9% |
| DHR Danaher Corp. | 0.31% | 2,939,593 | $580.7M | Reduce -1.5% |
| ABT Abbott Laboratories | 0.31% | 4,254,863 | $578.7M | Add +3.2% |
| SCHW Schwab (charles) Corp. | 0.30% | 6,314,824 | $576.2M | Reduce -3.6% |
| MS Morgan Stanley | 0.30% | 4,021,051 | $566.4M | Reduce -1.2% |
| APD Air Products & Chemicals Inc. | 0.29% | 1,967,457 | $555.0M | Add +14.0% |
| FAST Fastenal Co. | 0.29% | 13,087,686 | $549.7M | Reduce -0.7% |
| JNJ Johnson & Johnson | 0.29% | 3,582,915 | $547.3M | Add +5.6% |
| AMH American Homes 4 Rent- A | 0.29% | 15,134,789 | $545.9M | Reduce -3.5% |
| H Hyatt Hotels Corp. Class A | 0.29% | 3,871,964 | $540.7M | Add +23.5% |
| ACGL Arch Capital Group Ltd. | 0.28% | 5,835,768 | $531.3M | Reduce -27.9% |
| IVV iShares Core S&P 500 ETF | 0.27% | 831,454 | $516.2M | Reduce -62.9% |
| TECK Teck Resources Ltd.-CLS B | 0.26% | 12,404,592 | $500.6M | Add +7.6% |
| ORCL Oracle Corp. | 0.26% | 2,269,345 | $496.1M | Reduce -6.9% |
| ABBV Abbvie Inc. | 0.26% | 2,648,138 | $491.5M | Add +1.3% |
| DOC Healthpeak Properties Inc. | 0.26% | 27,868,461 | $488.0M | Add +56.1% |
| TMO Thermo Fisher Scientific Inc. | 0.26% | 1,197,902 | $485.7M | Reduce -2.5% |
| HD Home Depot Inc. | 0.26% | 1,317,025 | $482.9M | Reduce -0.5% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.25% | 6,949,048 | $469.0M | Reduce -9.9% |
| SPG Simon Property Group Inc. | 0.24% | 2,880,497 | $463.1M | Reduce -10.2% |
| CRM Salesforce Inc. | 0.24% | 1,684,450 | $459.3M | Reduce -21.3% |
| TT Trane Technologies PLC | 0.24% | 1,023,341 | $447.6M | Reduce -4.5% |
| MRK Merck & Co. Inc. | 0.24% | 5,629,591 | $445.6M | Add +0.0% |
| DE Deere & Co. | 0.23% | 853,723 | $434.1M | Reduce -3.8% |
| ELS Equity Lifestyle Properties | 0.23% | 7,036,265 | $433.9M | Add +10.8% |
| ENTG Entegris Inc. | 0.23% | 5,335,516 | $430.3M | Add +6.4% |
| TMUS T-Mobile US Inc. | 0.23% | 1,800,774 | $429.1M | Add +1.1% |
| NVR NVR Inc. | 0.23% | 57,976 | $428.2M | Add +2.9% |
| BAM Brookfield Asset Mgmt-A | 0.23% | 7,706,445 | $426.0M | Reduce -1.5% |
| ABNB Airbnb Inc. Class A | 0.22% | 3,213,167 | $425.2M | Reduce -1.3% |
| PH Parker Hannifin Corp. | 0.22% | 602,956 | $421.1M | Reduce -3.7% |
| BLK BlackRock Inc. | 0.21% | 386,602 | $405.6M | Reduce -7.0% |
| ESS Essex Property Trust Inc. | 0.21% | 1,412,506 | $400.3M | Reduce -4.7% |
Portfolio Sells Q1 2025 → Q2 2025
| IVV iShares Core S&P 500 ETF | Reduce -62.9% | 0.27% | −0.43 |
| PGR Progressive Corp. | Reduce -29.2% | 0.49% | −0.29 |
| GOOG Alphabet Inc. Class C | Reduce -34.8% | 0.62% | −0.27 |
| CPRT Copart Inc. | Reduce -1.2% | 1.01% | −0.24 |
| ORLY O'reilly Automotive Inc. | Reduce -6.2% | 1.19% | −0.24 |
| KMX Carmax Inc. | Reduce -61.0% | 0.09% | −0.20 |
| ACGL Arch Capital Group Ltd. | Reduce -27.9% | 0.28% | −0.16 |
| WELL Welltower Inc. | Reduce -9.0% | 0.85% | −0.14 |
| IT Gartner Inc. | Reduce -18.7% | 0.35% | −0.12 |
| PLD Prologis Inc. | Reduce -5.0% | 0.62% | −0.12 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.4% | 0.63% | −0.11 |
| BNL Broadstone Net Lease Inc. | Reduce -95.9% | 0.00% | −0.11 |
| VTR Ventas Inc. | Reduce -4.0% | 0.53% | −0.11 |
| V Visa Inc. Class A | Reduce -5.5% | 0.93% | −0.10 |
| ROP Roper Technologies Inc. | Reduce -1.2% | 0.75% | −0.09 |
| TMO Thermo Fisher Scientific Inc. | Reduce -2.5% | 0.26% | −0.09 |
| LLY Eli Lilly & Co. | Reduce -3.3% | 0.51% | −0.08 |
| CRM Salesforce Inc. | Reduce -21.3% | 0.24% | −0.08 |
| AVB Avalonbay Communities Inc. | Reduce -3.9% | 0.46% | −0.07 |
| PSC Principal US Small-Cap ETF | Reduce -31.7% | 0.16% | −0.07 |
| XOM Exxon Mobil Corp. | Reduce -0.3% | 0.38% | −0.07 |
| PG The Procter & Gamble Co. | Reduce -1.7% | 0.42% | −0.07 |
| MA Mastercard Inc. Class A | Reduce -4.6% | 0.75% | −0.06 |
| VMRK Vivmark Residential | Reduce -9.9% | 0.25% | −0.06 |
| COLD Americold Realty Trust Inc. | Reduce -6.3% | 0.13% | −0.06 |
| INVH Invitation Homes Inc. | Reduce -4.5% | 0.32% | −0.06 |
| ZLAB Zai Lab Ltd.-ADR | Reduce -96.4% | 0.00% | −0.06 |
| PAVE Global X US Infrastructure | Reduce -71.3% | 0.02% | −0.05 |
| SPG Simon Property Group Inc. | Reduce -10.2% | 0.24% | −0.05 |
| CSGP Costar Group Inc. | Reduce -1.9% | 0.79% | −0.05 |
| EXR Extra Space Storage Inc. | Reduce -2.6% | 0.49% | −0.05 |
| PY Principal Value ETF | Reduce -32.0% | 0.09% | −0.05 |
| VICI Vici Properties Inc. | Reduce -5.3% | 0.39% | −0.05 |
| WFC Wells Fargo & Co. | Reduce -27.1% | 0.15% | −0.05 |
| FISV Fiserv Inc. | Reduce -20.1% | 0.06% | −0.04 |
| FICO Fair Isaac Corp. | Reduce -4.6% | 0.36% | −0.04 |
| AMH American Homes 4 Rent- A | Reduce -3.5% | 0.29% | −0.04 |
| ESS Essex Property Trust Inc. | Reduce -4.7% | 0.21% | −0.04 |
| IGF iShares Global Infrastructur | Reduce -67.9% | 0.02% | −0.04 |
| FNF Fidelity National Financial | Reduce -9.3% | 0.12% | −0.04 |
| SHO Sunstone Hotel Investors Inc. | Reduce -85.0% | 0.01% | −0.04 |
| AMT American Tower Corp. | Reduce -0.9% | 0.71% | −0.04 |
| VAC Marriott Vacations World | Reduce -93.7% | 0.00% | −0.04 |
| CB Chubb Ltd. | Reduce -7.6% | 0.19% | −0.04 |
| ZTS Zoetis Inc. | Reduce -6.4% | 0.19% | −0.04 |
| DHR Danaher Corp. | Reduce -1.5% | 0.31% | −0.04 |
| DPZ Domino's Pizza Inc. | Reduce -0.5% | 0.41% | −0.04 |
| GLPI Gaming and Leisure Propertie | Reduce -2.9% | 0.18% | −0.04 |
| ACN Accenture PLC Class A | Reduce -13.3% | 0.12% | −0.03 |
| PEP Pepsico Inc. | Reduce -5.0% | 0.12% | −0.03 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +1.3% | 2.96% | +0.83 |
| META Meta Platforms Inc. Class A | Add +14.8% | 1.47% | +0.41 |
| USMC Principal US Mega-Cap ETF | Add +24.0% | 1.23% | +0.27 |
| AMZN Amazon.com Inc. | Add +2.9% | 2.35% | +0.25 |
| KKR KKR & Co. Inc. | Add +5.3% | 1.36% | +0.17 |
| HLT Hilton Worldwide Holdings Inc. | Add +2.1% | 1.49% | +0.17 |
| VMC Vulcan Materials Co. | Add +10.8% | 0.99% | +0.14 |
| FWONK Liberty Media Corp. Class C | Add +13.2% | 0.73% | +0.14 |
| LPLA LPL Financial Holdings Inc. | Add +53.8% | 0.32% | +0.13 |
| VEEV Veeva Systems Inc. Class A | Add +9.7% | 0.53% | +0.12 |
| TSLA Tesla Inc. | Add +4.3% | 0.63% | +0.11 |
| IRM Iron Mountain Inc. | Add +185.9% | 0.14% | +0.10 |
| LYV Live Nation Entertainment Inc. | Add +4.8% | 0.64% | +0.08 |
| USHY iShares Broad Usd High Yield | Add +1134.1% | 0.08% | +0.08 |
| TSM Taiwan Semiconductor-SP ADR | Add +0.5% | 0.31% | +0.07 |
| H Hyatt Hotels Corp. Class A | Add +23.5% | 0.29% | +0.07 |
| WDAY Workday Inc. Class A | Add +132.7% | 0.12% | +0.07 |
| MLM Martin Marietta Materials | Add +3.7% | 0.58% | +0.06 |
| CBRE CBRE Group Inc. Class A | Add +8.6% | 0.64% | +0.06 |
| DOC Healthpeak Properties Inc. | Add +56.1% | 0.26% | +0.06 |
| IDXX Idexx Laboratories Inc. | Add +0.2% | 0.32% | +0.05 |
| BIP Brookfield Infrastructure Pa | Add +5.2% | 0.51% | +0.05 |
| APPF Appfolio Inc. Class A | Add +107.2% | 0.10% | +0.05 |
| GEV GE Vernova Inc. | Add +4.0% | 0.13% | +0.05 |
| COIN Coinbase Global Inc. Class A | Add +2034.6% | 0.05% | +0.05 |
| CEG Constellation Energy | Add +20.6% | 0.11% | +0.05 |
| PM Philip Morris International | Add +21.1% | 0.20% | +0.05 |
| FND Floor & Decor Holdings Inc. Class A | Add +45.0% | 0.18% | +0.04 |
| GE General Electric | Add +6.3% | 0.18% | +0.04 |
| ARES Ares Management Corp. Class A | Add +2.6% | 0.31% | +0.04 |
| COF Capital One Financial Corp. | Add +65.4% | 0.08% | +0.04 |
| STRL Sterling Infrastructure Inc. | Add +44.0% | 0.06% | +0.04 |
| TOST Toast Inc. Class A | Add +5.2% | 0.13% | +0.03 |
| ETN Eaton Corp. PLC | Add +15.8% | 0.10% | +0.03 |
| BAC Bank of America Corp. | Add +2.1% | 0.37% | +0.03 |
| UBER Uber Technologies Inc. | Add +7.6% | 0.13% | +0.03 |
| TECK Teck Resources Ltd.-CLS B | Add +7.6% | 0.26% | +0.03 |
| ANET Arista Networks Inc. | Add +12.6% | 0.09% | +0.03 |
| SPHY SS SPDR P High Yield ETF | New | 0.03% | +0.03 |
| NET Cloudflare Inc. Class A | Add +357.3% | 0.03% | +0.03 |
| WMT Walmart Inc. | Add +4.0% | 0.32% | +0.03 |
| ABM Abm Industries Inc. | Add +307.5% | 0.04% | +0.03 |
| BA The Boeing Co. | Add +13.9% | 0.11% | +0.03 |
| MSI Motorola Solutions Inc. | Add +64.5% | 0.08% | +0.03 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +56.7% | 0.07% | +0.02 |
| RCL Royal Caribbean Cruises Ltd. | Add +19.1% | 0.06% | +0.02 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +226.1% | 0.03% | +0.02 |
| VST Vistra Corp. | Add +21.6% | 0.05% | +0.02 |
| CTVA Corteva Inc. | Add +3.1% | 0.18% | +0.02 |
| KLAC KLA Corp. | Add +3.1% | 0.10% | +0.02 |
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 |