Principal Financial Group Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 4, 2025), Principal Financial Group Inc. reported 2,246 stock positions worth $198.3 billion. Its top holding was Microsoft (MSFT) at 3.9% of the portfolio, followed by Nvidia (NVDA, 3.5%) and Apple (AAPL, 2.7%). Compared with Q2 2025, it opened 133 new positions, sold out of 111, added to 727 and reduced 1,370. The biggest buy was Nvidia (NVDA, shares +5%) and the biggest sale Progressive (PGR, shares −75%).
- Most Recent 13F
- Q2 2026
- Location
- DES MOINES, IA
- CIK
- 0001126328
- Portfolio Value
- $198.3B (Q3 2025)
- SEC Filing
- 0001126328-25-000057 ↗ filed Nov 4, 2025
Holdings Value
Holdings 2,246 stocks · $198.3B
| MSFT Microsoft Corp. | 3.92% | 15,024,173 | $7.8B | Reduce -1.7% |
| NVDA Nvidia Corp. | 3.51% | 37,299,876 | $7.0B | Add +5.1% |
| AAPL Apple Inc. | 2.68% | 20,867,240 | $5.3B | Reduce -2.4% |
| AMZN Amazon.com Inc. | 2.30% | 20,760,413 | $4.6B | Add +2.5% |
| BN Brookfield Corp. | 1.76% | 50,849,914 | $3.5B | Add +1.6% |
| TDG Transdigm Group Inc. | 1.58% | 2,379,816 | $3.1B | Add +18.3% |
| AVGO Broadcom Inc. | 1.43% | 8,608,672 | $2.8B | Reduce -2.5% |
| GOOGL Alphabet Inc. Class A | 1.38% | 11,258,069 | $2.7B | Add +7.2% |
| HLT Hilton Worldwide Holdings Inc. | 1.37% | 10,486,308 | $2.7B | Reduce -1.0% |
| META Meta Platforms Inc. Class A | 1.37% | 3,693,204 | $2.7B | Reduce -1.7% |
| HEI.A Heico Corp. Class A | 1.32% | 10,303,955 | $2.6B | Add +1.1% |
| ORLY O'reilly Automotive Inc. | 1.30% | 23,955,892 | $2.6B | Reduce -3.9% |
| USMC Principal US Mega-Cap ETF | 1.29% | 37,449,019 | $2.6B | Add +0.4% |
| KKR KKR & Co. Inc. | 1.25% | 19,049,804 | $2.5B | Reduce -1.6% |
| VMC Vulcan Materials Co. | 1.18% | 7,625,271 | $2.3B | Add +5.8% |
| WELL Welltower Inc. | 0.92% | 10,184,059 | $1.8B | Reduce -2.4% |
| CPRT Copart Inc. | 0.91% | 40,175,058 | $1.8B | Add +3.2% |
| TSLA Tesla Inc. | 0.86% | 3,835,227 | $1.7B | Add +1.6% |
| V Visa Inc. Class A | 0.85% | 4,945,850 | $1.7B | Reduce -0.3% |
| JPM JPMorgan Chase & Co. | 0.84% | 5,301,787 | $1.7B | Reduce -0.4% |
| LYV Live Nation Entertainment Inc. | 0.80% | 9,725,776 | $1.6B | Add +22.1% |
| GOOG Alphabet Inc. Class C | 0.79% | 6,465,384 | $1.6B | Reduce -2.7% |
| CSGP Costar Group Inc. | 0.79% | 18,623,370 | $1.6B | Reduce -0.1% |
| EQIX Equinix Inc. | 0.78% | 1,969,498 | $1.5B | Add +3.0% |
| CBRE CBRE Group Inc. Class A | 0.75% | 9,468,455 | $1.5B | Add +9.3% |
| BRO Brown & Brown Inc. | 0.73% | 15,416,190 | $1.4B | Add +13.4% |
| MA Mastercard Inc. Class A | 0.73% | 2,534,117 | $1.4B | Add +0.6% |
| MLM Martin Marietta Materials | 0.70% | 2,204,425 | $1.4B | Add +9.6% |
| NFLX Netflix Inc. | 0.69% | 1,142,140 | $1.4B | Reduce -2.2% |
| FWONK Liberty Media Corp. Class C | 0.66% | 12,566,018 | $1.3B | Reduce -4.6% |
| ROP Roper Technologies Inc. | 0.64% | 2,553,409 | $1.3B | Add +2.2% |
| PLD Prologis Inc. | 0.62% | 10,810,848 | $1.2B | Reduce -3.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.62% | 2,429,304 | $1.2B | Reduce -1.3% |
| AMT American Tower Corp. | 0.58% | 5,980,516 | $1.2B | Reduce -1.6% |
| VEEV Veeva Systems Inc. Class A | 0.58% | 3,846,877 | $1.1B | Add +11.3% |
| COST Costco Wholesale Corp. | 0.57% | 1,210,837 | $1.1B | Add +0.7% |
| VTR Ventas Inc. | 0.54% | 15,421,874 | $1.1B | Reduce -2.4% |
| BIP Brookfield Infrastructure Pa | 0.53% | 31,975,602 | $1.1B | Add +10.1% |
| MKL Markel Group Inc. | 0.53% | 547,188 | $1.0B | Add +1.8% |
| MSCI MSCI Inc. | 0.51% | 1,777,749 | $1.0B | Add +6.5% |
| LLY Eli Lilly & Co. | 0.48% | 1,253,691 | $956.6M | Add +1.0% |
| EXR Extra Space Storage Inc. | 0.48% | 6,715,901 | $946.5M | Add +6.4% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.45% | 2,866,786 | $888.0M | Add +26.1% |
| YUMC Yum China Holdings Inc. | 0.45% | 20,169,661 | $883.7M | Add +14.8% |
| IDXX Idexx Laboratories Inc. | 0.42% | 1,315,722 | $840.6M | Add +16.7% |
| CDNS Cadence Design SYS Inc. | 0.41% | 2,301,781 | $808.5M | Add +5.1% |
| AVB Avalonbay Communities Inc. | 0.40% | 4,113,064 | $794.5M | Reduce -2.8% |
| PG The Procter & Gamble Co. | 0.40% | 5,158,379 | $792.6M | Add +2.3% |
| SU Suncor Energy Inc. | 0.40% | 18,854,921 | $789.2M | Add +0.6% |
| DPZ Domino's Pizza Inc. | 0.38% | 1,762,568 | $760.9M | Add +1.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.38% | 14,530,373 | $749.6M | Reduce -1.1% |
| PIEQ Principal Intl Eqty ETF | 0.38% | 23,659,997 | $746.8M | Add +0.6% |
| TECK Teck Resources Ltd.-CLS B | 0.37% | 16,879,229 | $740.6M | Add +36.1% |
| TYL Tyler Technologies Inc. | 0.37% | 1,410,640 | $738.0M | Add +11.4% |
| XOM Exxon Mobil Corp. | 0.37% | 6,439,812 | $726.1M | Reduce -2.9% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.36% | 21,589,046 | $704.0M | Reduce -3.8% |
| ORCL Oracle Corp. | 0.35% | 2,441,969 | $686.8M | Add +7.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.34% | 2,408,411 | $672.6M | Reduce -7.9% |
| H Hyatt Hotels Corp. Class A | 0.34% | 4,715,085 | $669.2M | Add +21.8% |
| ABBV Abbvie Inc. | 0.34% | 2,869,088 | $664.3M | Add +8.3% |
| REG Regency Centers Corp. | 0.33% | 9,071,300 | $661.3M | Reduce -3.7% |
| LPLA LPL Financial Holdings Inc. | 0.33% | 1,970,021 | $655.4M | Add +23.4% |
| DLR Digital Realty Trust Inc. | 0.32% | 3,708,714 | $641.2M | Reduce -2.0% |
| DHR Danaher Corp. | 0.32% | 3,194,827 | $633.4M | Add +8.7% |
| JNJ Johnson & Johnson | 0.32% | 3,381,807 | $627.1M | Reduce -5.6% |
| WMT Walmart Inc. | 0.32% | 6,080,740 | $626.7M | Reduce -1.8% |
| FAST Fastenal Co. | 0.31% | 12,569,991 | $616.4M | Reduce -4.0% |
| FICO Fair Isaac Corp. | 0.30% | 404,105 | $604.8M | Add +8.1% |
| PLTR Palantir Technologies Inc. Class A | 0.30% | 3,302,903 | $602.5M | Add +38.4% |
| MS Morgan Stanley | 0.29% | 3,647,827 | $579.9M | Reduce -9.3% |
| LIN Linde PLC | 0.29% | 1,210,052 | $574.8M | Reduce -3.4% |
| ICLR Icon PLC | 0.29% | 3,277,293 | $573.5M | Add +739.2% |
| ARES Ares Management Corp. Class A | 0.29% | 3,534,773 | $565.2M | Add +2.8% |
| ENTG Entegris Inc. | 0.27% | 5,876,271 | $543.3M | Add +10.1% |
| HD Home Depot Inc. | 0.27% | 1,316,753 | $533.5M | Reduce -0.0% |
| SPG Simon Property Group Inc. | 0.27% | 2,837,284 | $532.5M | Reduce -1.5% |
| IVV iShares Core S&P 500 ETF | 0.27% | 794,964 | $532.1M | Reduce -4.4% |
| ABT Abbott Laboratories | 0.27% | 3,923,501 | $525.5M | Reduce -7.8% |
| DOC Healthpeak Properties Inc. | 0.26% | 26,984,868 | $516.8M | Reduce -3.2% |
| INVH Invitation Homes Inc. | 0.26% | 17,446,124 | $511.7M | Reduce -4.3% |
| KO The Coca-Cola Co. | 0.25% | 7,548,407 | $500.6M | Reduce -9.5% |
| UNH Unitedhealth Group Inc. | 0.25% | 1,442,968 | $498.3M | Reduce -29.5% |
| NVR NVR Inc. | 0.24% | 60,307 | $484.5M | Add +4.0% |
| AMH American Homes 4 Rent- A | 0.24% | 14,550,247 | $483.8M | Reduce -3.9% |
| APD Air Products & Chemicals Inc. | 0.24% | 1,763,578 | $481.0M | Reduce -10.4% |
| FND Floor & Decor Holdings Inc. Class A | 0.24% | 6,398,431 | $471.6M | Add +46.0% |
| ACGL Arch Capital Group Ltd. | 0.24% | 5,148,391 | $467.1M | Reduce -11.8% |
| CVX Chevron Corp. | 0.23% | 2,915,108 | $452.7M | Add +10.7% |
| TMUS T-Mobile US Inc. | 0.22% | 1,852,078 | $443.3M | Add +2.9% |
| LEN Lennar Corp. Class A | 0.22% | 3,494,410 | $440.4M | Add +3.9% |
| MRK Merck & Co. Inc. | 0.22% | 5,209,360 | $437.2M | Reduce -7.5% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.22% | 6,739,250 | $436.2M | Reduce -3.0% |
| BLK BlackRock Inc. | 0.21% | 362,766 | $422.9M | Reduce -6.2% |
| SCHW Schwab (charles) Corp. | 0.21% | 4,428,331 | $422.8M | Reduce -29.9% |
| BAM Brookfield Asset Mgmt-A | 0.21% | 7,329,818 | $417.4M | Reduce -4.9% |
| PH Parker Hannifin Corp. | 0.21% | 550,170 | $417.1M | Reduce -8.8% |
| ELS Equity Lifestyle Properties | 0.21% | 6,855,358 | $416.1M | Reduce -2.6% |
| TT Trane Technologies PLC | 0.21% | 971,527 | $409.9M | Reduce -5.1% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.20% | 5,241,509 | $401.6M | Add +4.8% |
| SPOT Spotify Technology SA | 0.20% | 571,474 | $398.9M | Add +3534.9% |
Portfolio Sells Q2 2025 → Q3 2025
| PGR Progressive Corp. | Reduce -74.8% | 0.11% | −0.38 |
| IT Gartner Inc. | Reduce -93.9% | 0.01% | −0.33 |
| NFLX Netflix Inc. | Reduce -2.2% | 0.69% | −0.14 |
| MTN Vail Resorts Inc. | Reduce -94.9% | 0.01% | −0.13 |
| AMT American Tower Corp. | Reduce -1.6% | 0.58% | −0.13 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -1.0% | 1.37% | −0.12 |
| TMO Thermo Fisher Scientific Inc. | Reduce -52.3% | 0.14% | −0.12 |
| KKR KKR & Co. Inc. | Reduce -1.6% | 1.25% | −0.11 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.11 |
| ABNB Airbnb Inc. Class A | Reduce -37.3% | 0.12% | −0.10 |
| META Meta Platforms Inc. Class A | Reduce -1.7% | 1.37% | −0.10 |
| MSFT Microsoft Corp. | Reduce -1.7% | 3.92% | −0.10 |
| SCHW Schwab (charles) Corp. | Reduce -29.9% | 0.21% | −0.09 |
| KMX Carmax Inc. | Reduce -93.7% | 0.00% | −0.09 |
| UNH Unitedhealth Group Inc. | Reduce -29.5% | 0.25% | −0.09 |
| COLD Americold Realty Trust Inc. | Reduce -45.7% | 0.05% | −0.08 |
| V Visa Inc. Class A | Reduce -0.3% | 0.85% | −0.08 |
| WDAY Workday Inc. Class A | Reduce -64.0% | 0.04% | −0.08 |
| FWONK Liberty Media Corp. Class C | Reduce -4.6% | 0.66% | −0.07 |
| PM Philip Morris International | Reduce -20.0% | 0.14% | −0.07 |
| DE Deere & Co. | Reduce -13.8% | 0.17% | −0.06 |
| KO The Coca-Cola Co. | Reduce -9.5% | 0.25% | −0.06 |
| INVH Invitation Homes Inc. | Reduce -4.3% | 0.26% | −0.06 |
| AVB Avalonbay Communities Inc. | Reduce -2.8% | 0.40% | −0.05 |
| APD Air Products & Chemicals Inc. | Reduce -10.4% | 0.24% | −0.05 |
| PY Principal Value ETF | Reduce -58.5% | 0.04% | −0.05 |
| CRM Salesforce Inc. | Reduce -3.9% | 0.19% | −0.05 |
| TKO Tko Group Holdings Inc. | Reduce -57.2% | 0.04% | −0.05 |
| ACGL Arch Capital Group Ltd. | Reduce -11.8% | 0.24% | −0.05 |
| AMH American Homes 4 Rent- A | Reduce -3.9% | 0.24% | −0.04 |
| ABT Abbott Laboratories | Reduce -7.8% | 0.27% | −0.04 |
| ISRG Intuitive Surgical Inc. | Reduce -2.3% | 0.13% | −0.04 |
| CARR Carrier Global Corp. | Reduce -13.9% | 0.07% | −0.03 |
| CTVA Corteva Inc. | Reduce -5.5% | 0.14% | −0.03 |
| EOG EOG Resources Inc. | Reduce -14.6% | 0.10% | −0.03 |
| RHP Ryman Hospitality Properties | Reduce -6.2% | 0.14% | −0.03 |
| VICI Vici Properties Inc. | Reduce -3.8% | 0.36% | −0.03 |
| TT Trane Technologies PLC | Reduce -5.1% | 0.21% | −0.03 |
| VMRK Vivmark Residential | Reduce -3.0% | 0.22% | −0.03 |
| ACN Accenture PLC Class A | Reduce -1.5% | 0.09% | −0.03 |
| GTLS Chart Industries Inc. | Reduce -54.0% | 0.03% | −0.03 |
| ZTS Zoetis Inc. | Reduce -3.9% | 0.16% | −0.03 |
| AWK American Water Works Co. Inc. | Reduce -57.4% | 0.02% | −0.03 |
| CHD Church & Dwight Co. Inc. | Reduce -58.0% | 0.01% | −0.03 |
| DLR Digital Realty Trust Inc. | Reduce -2.0% | 0.32% | −0.03 |
| ESS Essex Property Trust Inc. | Reduce -2.4% | 0.19% | −0.03 |
| HCA HCA Healthcare Inc. | Reduce -19.5% | 0.15% | −0.03 |
| ADBE Adobe Inc. | Reduce -8.6% | 0.10% | −0.03 |
| INTU Intuit Inc. | Reduce -0.7% | 0.12% | −0.03 |
| SWTX Springworks Therapeutics Inc. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| NVDA Nvidia Corp. | Add +5.1% | 3.51% | +0.55 |
| GOOGL Alphabet Inc. Class A | Add +7.2% | 1.38% | +0.40 |
| ICLR Icon PLC | Add +739.2% | 0.29% | +0.26 |
| TSLA Tesla Inc. | Add +1.6% | 0.86% | +0.23 |
| SPOT Spotify Technology SA | Add +3534.9% | 0.20% | +0.19 |
| VMC Vulcan Materials Co. | Add +5.8% | 1.18% | +0.19 |
| LYV Live Nation Entertainment Inc. | Add +22.1% | 0.80% | +0.16 |
| PLTR Palantir Technologies Inc. Class A | Add +38.4% | 0.30% | +0.13 |
| BN Brookfield Corp. | Add +1.6% | 1.76% | +0.12 |
| MLM Martin Marietta Materials | Add +9.6% | 0.70% | +0.12 |
| APP AppLovin Corp. Class A | Add +946.5% | 0.12% | +0.11 |
| CBRE CBRE Group Inc. Class A | Add +9.3% | 0.75% | +0.11 |
| TECK Teck Resources Ltd.-CLS B | Add +36.1% | 0.37% | +0.11 |
| IDXX Idexx Laboratories Inc. | Add +16.7% | 0.42% | +0.10 |
| ORCL Oracle Corp. | Add +7.6% | 0.35% | +0.08 |
| ASND Ascendis Pharma A/S | Add +2722.9% | 0.08% | +0.08 |
| ABBV Abbvie Inc. | Add +8.3% | 0.34% | +0.08 |
| LLYVK Liberty Media Corp.-Liberty-C | Add +791.0% | 0.08% | +0.07 |
| AJG Arthur J Gallagher & Co. | Add +26.1% | 0.45% | +0.06 |
| FND Floor & Decor Holdings Inc. Class A | Add +46.0% | 0.24% | +0.06 |
| APPF Appfolio Inc. Class A | Add +40.1% | 0.16% | +0.06 |
| DHI D.R. Horton Inc. | Add +12.5% | 0.19% | +0.06 |
| HOOD Robinhood Markets Inc. Class A | Add +909.9% | 0.06% | +0.06 |
| USMC Principal US Mega-Cap ETF | Add +0.4% | 1.29% | +0.05 |
| H Hyatt Hotels Corp. Class A | Add +21.8% | 0.34% | +0.05 |
| VEEV Veeva Systems Inc. Class A | Add +11.3% | 0.58% | +0.05 |
| CDNS Cadence Design SYS Inc. | Add +5.1% | 0.41% | +0.05 |
| CRH CRH PLC | Add +24.7% | 0.14% | +0.05 |
| EGP Eastgroup Properties Inc. | Add +43.5% | 0.17% | +0.05 |
| ENTG Entegris Inc. | Add +10.1% | 0.27% | +0.05 |
| PRM Perimeter Solutions Inc. | Add +0.5% | 0.12% | +0.04 |
| WSM Williams-Sonoma Inc. | Add +30.2% | 0.10% | +0.03 |
| SNPS Synopsys Inc. | Add +57.7% | 0.10% | +0.03 |
| WDC Western Digital Corp. | Add +48.2% | 0.05% | +0.03 |
| YUMC Yum China Holdings Inc. | Add +14.8% | 0.45% | +0.03 |
| CVX Chevron Corp. | Add +10.7% | 0.23% | +0.03 |
| SU Suncor Energy Inc. | Add +0.6% | 0.40% | +0.03 |
| LEN Lennar Corp. Class A | Add +3.9% | 0.22% | +0.03 |
| ROST Ross Stores Inc. | Add +3.6% | 0.16% | +0.02 |
| NTNX Nutanix Inc. Class A | Add +5204.5% | 0.02% | +0.02 |
| XYZ Block Inc. | Add +2385.3% | 0.02% | +0.02 |
| NXST Nexstar Media Group Inc. | Add +63.0% | 0.05% | +0.02 |
| TLN Talen Energy Corp. | Add +2067.8% | 0.02% | +0.02 |
| UBER Uber Technologies Inc. | Add +15.9% | 0.15% | +0.02 |
| HL Hecla Mining Co. | Add +7588.1% | 0.02% | +0.02 |
| NVR NVR Inc. | Add +4.0% | 0.24% | +0.02 |
| TRU Transunion | Add +5046.6% | 0.02% | +0.02 |
| CCC CCC Intelligent Solutions Ho | Add +20.4% | 0.18% | +0.02 |
| FTI Technipfmc PLC | Add +5157.7% | 0.02% | +0.02 |
| BOOT Boot Barn Holdings Inc. | Add +132.4% | 0.03% | +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 |