NPORT-P false 0001557523 XXXXXXXX PRINCIPAL REAL ESTATE INCOME FUND 811-22742 0001557523 549300HK3LIJEGLGMK36 1290 BROADWAY SUITE 1000 DENVER 80203 3036232577 Principal Real Estate Income Fund 549300HK3LIJEGLGMK36 2026-10-31 2026-04-30 N 109723884.66 34464775.01 75259109.65 0.00000000 0.00000000 32000000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 169.80000000 USD N Sabra Health Care Reit Inc 549300E3BC7GU7TAZ621 78573L106 93141.00000000 NS USD 1924293.06000000 2.556890546472 Long EC CORP US N 1 N N N Unibail-rodamco-westfield 969500SHQITWXSIS7N89 N/A 8373.00000000 NS 1013164.05000000 1.346234435554 Long EC CORP FR N 1 N N N Morgan Stanley Capital I Trust N/A 61767FAC5 13495500.00000000 PA USD 17282.34000000 0.022963784823 Long ABS-MBS CORP US Y 2 2026-08-15 Variable 1.50000000 N N N N N N Bmo Mortgage Trust N/A 09663VAL4 13236000.00000000 PA USD 1070460.18000000 1.422366255697 Long ABS-MBS CORP US Y 2 2058-10-15 Variable 2.28300000 N N N N N N Benchmark Mortgage Trust N/A 08162WBH8 2000000.00000000 PA USD 1520469.20000000 2.020312500468 Long ABS-MBS CORP US N 2 2030-09-15 Fixed 3.21100000 N N N N N N Equity Residential 5493008RACSH5EP3PI59 29476L107 9794.00000000 NS USD 640331.72000000 0.850836161865 Long EC CORP US N 1 N N N Vici Properties Inc 254900RKH6RY9KCJQH63 925652109 22495.00000000 NS USD 656854.00000000 0.872790022436 Long EC CORP US N 1 N N N Barclays Commercial Mortgage Securities Llc N/A 07336VAC5 2900000.00000000 PA USD 467146.21000000 0.620717162576 Long ABS-MBS CORP US Y 2 2034-02-15 Variable 3.17400000 N N N N N N Mitsubishi Estate Logistics Reit Investment Corp 353800YYSGZU31ICQK38 N/A 252.00000000 NS 195412.47000000 0.259652912330 Long EC CORP JP N 1 N N N Bank N/A 06540BAJ8 2500000.00000000 PA USD 1864894.75000000 2.477965469792 Long ABS-MBS CORP US Y 2 2052-10-17 Fixed 2.50000000 N N N N N N Bank N/A 06539YAA0 1949000.00000000 PA USD 1511665.84000000 2.008615099261 Long ABS-MBS CORP US Y 2 2030-04-15 Fixed 2.50000000 N N N N N N Wells Fargo Commercial Mortgage Trust N/A 95005BAQ3 1777000.00000000 PA USD 131695.42000000 0.174989340974 Long ABS-MBS CORP US Y 2 2059-03-15 Variable 2.00200000 N N N N N N Bank5 N/A 06644XBN5 158121000.00000000 PA USD 708097.46000000 0.940879400903 Long ABS-MBS CORP US N 2 2057-12-15 Variable 0.20100000 N N N N N N Sl Green Realty Corp 549300VQZPJU97H3GT17 78440X887 3961.00000000 NS USD 167986.01000000 0.223210201105 Long EC CORP US N 1 N N N Cousins Properties Inc 5493007XPYD5EJABN062 222795502 13560.00000000 NS USD 347271.60000000 0.461434637766 Long EC CORP US N 1 N N N Stockland 549300Y8E5TMSOLM7P64 N/A 153466.00000000 NS 447474.28000000 0.594578227248 Long EC CORP AU N 1 N N N Bmo Mortgage Trust N/A 09663VAS9 2800000.00000000 PA USD 1967762.44000000 2.614650172120 Long ABS-MBS CORP US Y 2 2058-10-15 Fixed 4.50000000 N N N N N N Barclays Commercial Mortgage Securities Llc N/A 05557AAM5 1500000.00000000 PA USD 131331.00000000 0.174505120523 Long ABS-MBS CORP US Y 2 2059-02-15 Variable 2.33900000 N N N N N N Invincible Investment Corp 353800JY6M2692VAV685 N/A 1083.00000000 NS 424746.57000000 0.564378946250 Long EC CORP JP N 1 N N N American Healthcare Reit Inc 2549004GGE2APGNT6O92 398182303 5038.00000000 NS USD 255829.64000000 0.339931791898 Long EC CORP US N 1 N N N Wells Fargo Commercial Mortgage Trust N/A 95005BAL4 1777000.00000000 PA USD 1230425.01000000 1.634918371639 Long ABS-MBS CORP US Y 2 2031-02-15 Fixed 4.50000000 N N N N N N Invitation Homes Inc 984500FE452E665C9F85 46187W107 25026.00000000 NS USD 719998.02000000 0.956692184306 Long EC CORP US N 1 N N N Bmo Mortgage Trust N/A 09660SAC4 6804500.00000000 PA USD 472516.05000000 0.627852298808 Long ABS-MBS CORP US Y 2 2029-05-15 Variable 3.00200000 N N N N N N Crown Castle Inc 54930012H97VSM0I2R19 22822V101 1279.00000000 NS USD 113549.62000000 0.150878239894 Long EC CORP US N 1 N N N Comm Mortgage Trust N/A 200474BH6 793178.94000000 PA USD 773879.31000000 1.028286560389 Long ABS-MBS CORP US N 2 2048-02-10 Variable 4.56700000 N N N N N N Ventas Inc ORQTRC074CWLT3DKHT41 92276F100 12635.00000000 NS USD 1110111.10000000 1.475052130117 Long EC CORP US N 1 N N N Mercialys Sa 969500081CGAXB7YS433 N/A 125603.00000000 NS 1836783.93000000 2.440613420145 Long EC CORP FR N 1 N N N Vornado Realty Trust N/A 929042109 6991.00000000 NS USD 208960.99000000 0.277655410716 Long EC CORP US N 1 N N N Gs Mortgage Securities Trust N/A 36258RAA1 1250000.00000000 PA USD 972965.00000000 1.292820237343 Long ABS-MBS CORP US Y 2 2030-04-12 Variable 3.56500000 N N N N N N Cantor Commercial Real Estate Lending N/A 12528YAL7 1750000.00000000 PA USD 1559287.10000000 2.071891505562 Long ABS-MBS CORP US N 2 2029-10-15 Variable 3.71400000 N N N N N N Benchmark Mortgage Trust N/A 08163WAM7 1290000.00000000 PA USD 903439.63000000 1.200438902614 Long ABS-MBS CORP US Y 2 2033-12-15 Fixed 4.00000000 N N N N N N Jp Morgan Chase Commercial Mortgage Sec Trust N/A 46634SAM7 314861.73000000 PA USD 311762.39000000 0.414252030684 Long ABS-MBS CORP US Y 2 2045-05-15 Variable 5.12900000 N N N N N N Citigroup Commercial Mortgage Trust N/A 17328HBJ9 2000000.00000000 PA USD 1619385.40000000 2.151746688913 Long ABS-MBS CORP US N 2 2029-11-10 Variable 3.73100000 N N N N N N Citigroup Commercial Mortgage Trust N/A 17328HAJ0 4074000.00000000 PA USD 2157438.44000000 2.866680791246 Long ABS-MBS CORP US Y 2 2029-11-10 Fixed 3.00000000 N N N N N N Gaming And Leisure Properties Inc 5493006GWRDBCZYWTM57 36467J108 28299.00000000 NS USD 1371369.54000000 1.822197400922 Long EC CORP US N 1 N N N Sf Real Estate Investment Trust 213800UGJNP2A1O21932 N/A 286000.00000000 NS 94207.47000000 0.125177497366 Long EC CORP HK N 1 N N N Comm Mortgage Trust N/A 20048EAE1 76257.07000000 PA USD 74123.51000000 0.098491080142 Long ABS-MBS CORP US Y 2 2046-01-10 Variable 3.86000000 N N N N N N Bmo Mortgage Trust N/A 05610CAP9 2125000.00000000 PA USD 1914455.43000000 2.543818866451 Long ABS-MBS CORP US Y 2 2033-01-15 Variable 6.05800000 N N N N N N British Land Co Plc/the RV5B68J2GV3QGMRPW209 G15540118 61054.00000000 NS 321433.04000000 0.427101837232 Long EC CORP GB N 1 N N N Legends Outlets (kansas City, Ks) Mortgage Secured Pass-through Trust N/A 524947AF5 2320000.00000000 PA USD 2297784.14000000 3.053164129480 Long ABS-MBS CORP US Y 2 2027-11-05 Fixed 10.03400000 N N N N N N Msrw Pass-through Trust N/A 55361CAE0 2000000.00000000 PA USD 1999999.98000000 2.657485571250 Long ABS-MBS CORP US Y 2 2031-05-15 Fixed 9.68200000 N N N N N N Smartstop Self Storage Reit Inc 549300EC266625K12S42 83192D402 19788.00000000 NS USD 622926.24000000 0.827708755653 Long EC CORP US N 1 N N N Wells Fargo Commercial Mortgage Trust N/A 95004JAJ3 32613000.00000000 PA USD 2835762.31000000 3.767998748839 Long ABS-MBS CORP US Y 2 2058-01-15 Variable 2.88400000 N N N N N N Wells Fargo Commercial Mortgage Trust N/A 95003MBU1 45827000.00000000 PA USD 104261.01000000 0.138536066244 Long ABS-MBS CORP US N 2 2055-04-15 Variable 0.04700000 N N N N N N Bank N/A 06539WAE6 3000000.00000000 PA USD 1699056.00000000 2.257608424948 Long ABS-MBS CORP US Y 2 2030-02-15 Variable 2.02500000 N N N N N N National Health Investors Inc 549300ZPKZIG6DKDEC02 63633D104 5847.00000000 NS USD 449692.77000000 0.597526029860 Long EC CORP US N 1 N N N Ctp Nv 3157000YTVO4TN65UM14 N/A 10200.00000000 NS 192498.00000000 0.255780331305 Long EC CORP NL Y 1 N N N Barclays Commercial Mortgage Securities Llc N/A 07336VAG6 2125000.00000000 PA USD 1532877.46000000 2.036799886590 Long ABS-MBS CORP US Y 2 2034-01-15 Fixed 4.25000000 N N N N N N Merlin Properties Socimi Sa 959800L8KD863DP30X04 N/A 18209.00000000 NS 317360.28000000 0.421690186710 Long EC CORP ES N 1 N N N Benchmark Mortgage Trust N/A 08163QAA6 15860000.00000000 PA USD 2235290.95000000 2.970126753286 Long ABS-MBS CORP US Y 2 2032-05-15 Variable 2.78900000 N N N N N N Digital Realty Trust Inc 549300HKCZ31D08NEI41 253868103 1322.00000000 NS USD 265642.68000000 0.352970798133 Long EC CORP US N 1 N N N Frontview Reit Inc N/A 35922N100 43630.00000000 NS USD 772251.00000000 1.026122955202 Long EC CORP US N 1 N N N Prologis Inc 529900DFH19P073LZ636 74340W103 6087.00000000 NS USD 864475.74000000 1.148665914359 Long EC CORP US N 1 N N N Bank N/A 06539WAC0 1250000.00000000 PA USD 889473.75000000 1.181881840134 Long ABS-MBS CORP US Y 2 2030-01-15 Fixed 2.50000000 N N N N N N Bx Trust N/A 123911AC3 30000000.00000000 PA USD 746193.00000000 0.991498575348 Long ABS-MBS CORP US Y 2 2030-02-10 Variable 0.96100000 N N N N N N Iron Mountain Inc SQL3F6CKNNBM3SQGHX24 46284V101 8415.00000000 NS USD 1060205.85000000 1.408740888552 Long EC CORP US N 1 N N N Barclays Commercial Mortgage Securities Llc N/A 05557AAR4 1500000.00000000 PA USD 1050250.65000000 1.395512988240 Long ABS-MBS CORP US Y 2 2031-01-15 Fixed 4.25000000 N N N N N N Capitaland Investment Ltd/singapore 254900AT4UQDU7SNXX49 N/A 91600.00000000 NS 200069.14000000 0.265840429059 Long EC CORP SG N 1 N N N Benchmark Mortgage Trust N/A 08160KAK0 1862000.00000000 PA USD 1504784.05000000 1.999470970355 Long ABS-MBS CORP US N 2 2029-12-15 Variable 3.82900000 N N N N N N Benchmark Mortgage Trust N/A 08163WAX3 4000000.00000000 PA USD 793712.80000000 1.054640167404 Long ABS-MBS CORP US Y 2 2033-08-15 Variable 3.91400000 N N N N N N Ui Boustead Reit N/A N/A 804100.00000000 NS 530675.68000000 0.705131488357 Long EC CORP SG N 1 N N N Wells Fargo Commercial Mortgage Trust N/A 95004MAJ6 21800000.00000000 PA USD 2023430.22000000 2.688618333926 Long ABS-MBS CORP US Y 2 2058-07-15 Variable 2.69100000 N N N N N N Mitsui Fudosan Co Ltd 353800ND4ZKNZDYKMF33 N/A 64400.00000000 NS 701158.06000000 0.931658723124 Long EC CORP JP N 1 N N N Hongkong Land Holdings Ltd 213800XCHYNRPAYGXW28 G4587L109 78300.00000000 NS USD 617787.00000000 0.820880027511 Long EC CORP BM N 1 N N N Warehouses De Pauw Cva 549300HWDYC5JXC85138 N/A 19640.00000000 NS 516332.57000000 0.686073184231 Long EC CORP BE N 1 N N N Eastgroup Properties Inc 31TIGQQZC4P6JMHKSW85 277276101 2992.00000000 NS USD 601990.40000000 0.799890409014 Long EC CORP US N 1 N N N Centuria Capital Group N/A N/A 202313.00000000 NS 245428.27000000 0.326111046412 Long EC CORP AU N 1 N N N Kilroy Realty Corp 549300CXXI18B214UN80 49427F108 10414.00000000 NS USD 346369.64000000 0.460236164911 Long EC CORP US N 1 N N N Saul Centers Inc N/A 804395101 28300.00000000 NS USD 974369.00000000 1.294685792233 Long EC CORP US N 1 N N N Welltower Inc 254900F33BIAR82QTA19 95040Q104 8030.00000000 NS USD 1745240.20000000 2.318975348122 Long EC CORP US N 1 N N N Comm Mortgage Trust N/A 12674VAC5 85000000.00000000 PA USD 1294269.50000000 1.719751277977 Long ABS-MBS CORP US Y 2 2030-08-10 Variable 0.61400000 N N N N N N Extra Space Storage Inc 529900SDJHKRQWED6A16 30225T102 5052.00000000 NS USD 724103.16000000 0.962146859519 Long EC CORP US N 1 N N N Pro Real Estate Investment Trust N/A 742694300 31603.00000000 NS 151692.54000000 0.201560370173 Long EC CORP CA N 1 N N N Comm Mortgage Trust N/A 12592KAG9 5004500.00000000 PA USD 3325878.10000000 4.419236575435 Long ABS-MBS CORP US Y 2 2047-09-10 Fixed 3.49500000 N N N N N N Morgan Stanley Capital I Trust N/A 61770KBB0 541000.00000000 PA USD 485673.44000000 0.645335086023 Long ABS-MBS CORP US N 2 2030-02-15 Fixed 3.08200000 N N N N N N Benchmark Mortgage Trust N/A 08163MAY3 1149000.00000000 PA USD 656294.09000000 0.872046046056 Long ABS-MBS CORP US Y 2 2031-11-15 Fixed 2.25000000 N N N N N N Goodman Group N/A N/A 47514.00000000 NS 1011860.50000000 1.344502352878 Long EC CORP AU N 1 N N N Ubs Commercial Mortgage Trust N/A 90278MAG2 1400000.00000000 PA USD 1073923.90000000 1.426968648704 Long ABS-MBS CORP US Y 2 2029-10-15 Fixed 2.50000000 N N N N N N Barclays Commercial Mortgage Securities Llc N/A 05555AAL9 4557500.00000000 PA USD 680580.59000000 0.904316558042 Long ABS-MBS CORP US Y 2 2034-05-15 Variable 2.56800000 N N N N N N Safestore Holdings Plc 213800WGA3YSJC1YOH73 N/A 23425.00000000 NS 213087.85000000 0.283138946223 Long EC CORP GB N 1 N N N Daiwa House Reit Investment Corp 3538001FWU534P8JMO05 N/A 292.00000000 NS 234264.00000000 0.311276603044 Long EC CORP JP N 1 N N N Healthpeak Properties Inc 254900M6MTMZM0I22L81 42250P103 64695.00000000 NS USD 1046118.15000000 1.390021958624 Long EC CORP US N 1 N N N American Homes 4 Rent 549300ZJUO7A58PNUW40 02665T306 18696.00000000 NS USD 595280.64000000 0.790974863731 Long EC CORP US N 1 N N N State Street Institutional Treasury Plus Money Market Fund 549300PNASLVKQG64331 857492862 2741956.19000000 NS USD 2741956.19000000 3.643354542395 Long STIV RF US N 1 N N N CHARTWELL RETIREMENT RESIDENCES 549300M7UBEIZBWP4069 N/A 13700.00000000 NS 217247.40000000 0.288665918332 Long EC CORP CA N 1 N N N Barclays Commercial Mortgage Securities Llc N/A 07337AAX4 3000000.00000000 PA USD 1955531.40000000 2.598398265797 Long ABS-MBS CORP US Y 2 2035-01-15 Fixed 4.50000000 N N N N N N Aims Apac Reit 549300MGNQOBQ3KVN734 N/A 187500.00000000 NS 222442.65000000 0.295569069358 Long EC CORP SG N 1 N N N Centurion Accommodation Reit 254900NE2W0T2HDOXF24 YK0847904 487079.00000000 NS 420951.37000000 0.559336101579 Long EC CORP SG N 1 N N N Jpmbb Commercial Mortgage Securities Trust 549300UOGMFS1M8XVM16 46640NAM0 8561708.82500000 PA USD 54020.96000000 0.071779961590 Long ABS-MBS CORP US Y 2 2045-11-15 Variable 1.19600000 N N N N N N Qualitas Real Estate Income Fund 213800DV4JX1UQYXMC45 Q61825107 364072.00000000 NS 411517.03000000 0.546800290242 Long EC CORP AU N 1 N N N Bmo 2022-c1 Mortgage Trust N/A 05609MBJ3 5548000.00000000 PA USD 3850098.40000000 5.115790524104 Long ABS-MBS CORP US Y 2 2032-02-15 Fixed 2.00000000 N N N N N N Morgan Stanley Baml Trust N/A 61764RAJ7 16967678.36300000 PA USD 267542.96000000 0.355495781499 Long ABS-MBS CORP US Y 2 2048-02-15 Variable 1.74500000 N N N N N N Essex Property Trust Inc 549300TR2H2VEFX0NC60 297178105 1511.00000000 NS USD 397710.31000000 0.528454710465 Long EC CORP US N 1 N N N Sun Communities Inc 549300H5GEOJYN41ZG57 866674104 3598.00000000 NS USD 459968.32000000 0.611179592927 Long EC CORP US N 1 N N N Bmo Mortgage Trust N/A 05593MAN3 9145000.00000000 PA USD 1003718.62000000 1.333683888459 Long ABS-MBS CORP US Y 2 2034-07-15 Variable 2.10100000 N N N N N N Bank N/A 06540CCC9 3100000.00000000 PA USD 194891.73000000 0.258960982805 Long ABS-MBS CORP US Y 2 2064-06-15 Variable 1.50000000 N N N N N N Cre Logistics Reit Inc N/A N/A 192.00000000 NS 189479.74000000 0.251769840064 Long EC CORP JP N 1 N N N Equinix Inc 549300EVUN2BTLJ3GT74 29444U700 2577.00000000 NS USD 2790452.91000000 3.707794209866 Long EC CORP US N 1 N N N Wells Fargo Commercial Mortgage Trust N/A 95003UAK6 9160000.00000000 PA USD 586027.49000000 0.778679807302 Long ABS-MBS CORP US Y 2 2057-11-15 Variable 2.28400000 N N N N N N Rexford Industrial Realty Inc 549300MSLO0DF0EMX355 76169C100 15784.00000000 NS USD 566487.76000000 0.752716531772 Long EC CORP US N 1 N N N Benchmark Mortgage Trust N/A 08162CAL4 1719500.00000000 PA USD 1317055.32000000 1.750027772219 Long ABS-MBS CORP US Y 2 2028-09-10 Variable 3.23800000 N N N N N N Brandywine Realty Trust 5UZ46ZCYUFYYAC0DS831 105368203 85727.00000000 NS USD 259752.81000000 0.345144675784 Long EC CORP US N 1 N N N Nyc Commercial Mortgage Trust 2021-909 N/A 67123JAL3 1500000.00000000 PA USD 1497690.30000000 1.990045201126 Long ABS-MBS CORP US Y 2 2028-11-05 Variable 8.40100000 N N N N N N Msrw Pass-through Trust N/A 553610AE6 2468488.50000000 PA USD 2438366.28000000 3.239961635660 Long ABS-MBS CORP US Y 2 2046-02-15 Fixed 9.23100000 N N N N N N Janus Living Inc 2549003JCIOFKGHO7313 471024109 7211.00000000 NS USD 189216.64000000 0.251420247834 Long EC CORP US N 1 N N N Nexus Industrial Reit 549300VXQ93JIP08X629 65344U101 80800.00000000 NS 474086.94000000 0.629939607583 Long EC CORP CA N 1 N N N Dream Industrial Real Estate Investment Trust 549300QOI0TM3CBYUH79 26153W109 15300.00000000 NS 154086.94000000 0.204741911931 Long EC CORP CA N 1 N N N Barclays Commercial Mortgage Securities Llc N/A 07336VAJ0 2900000.00000000 PA USD 1683071.84000000 2.236369587452 Long ABS-MBS CORP US Y 2 2034-02-15 Fixed 4.25000000 N N N N N N Morgan Stanley Capital I Trust N/A 61769JAC5 1750000.00000000 PA USD 1451836.93000000 1.929117865932 Long ABS-MBS CORP US Y 2 2029-06-15 Fixed 3.00000000 N N N N N N Unite Group Plc/the 213800BBUUWVDH9YI827 N/A 22142.00000000 NS 139741.46000000 0.185680458684 Long EC CORP GB N 1 N N N Henderson Land Development Co Ltd 529900SYQB7IVR9QGN76 Y31476107 97000.00000000 NS 381188.64000000 0.506501660427 Long EC CORP HK N 1 N N N Bank N/A 06540CAN7 1500000.00000000 PA USD 705555.60000000 0.937501922732 Long ABS-MBS CORP US Y 2 2031-08-15 Variable 1.76800000 N N N N N N Citigroup Commercial Mortgage Trust N/A 17328FAA3 1600000.00000000 PA USD 1262592.96000000 1.677661303557 Long ABS-MBS CORP US Y 2 2029-08-10 Fixed 3.00000000 N N N N N N Go Residential Real Estate Investment Trust 254900BOSTNQM0TQXR30 36272H107 37855.00000000 NS USD 384228.25000000 0.510540520326 Long EC CORP CA Y 1 N N N Citigroup Commercial Mortgage Trust N/A 17328CAH5 2700000.00000000 PA USD 2496720.24000000 3.317499039798 Long ABS-MBS CORP US N 2 2029-10-15 Variable 4.04800000 N N N N N N Hang Lung Properties Ltd 529900CIVTNMXQT59E61 Y30166105 317000.00000000 NS 372345.99000000 0.494752052916 Long EC CORP HK N 1 N N N Stoneweg Europe Stapled Trust 21380093RFHTC319NL93 N/A 225760.00000000 NS 410694.33000000 0.545707133541 Long EC CORP SG N 1 N N N Bank N/A 06540CAL1 1700000.00000000 PA USD 913981.20000000 1.214445937841 Long ABS-MBS CORP US Y 2 2031-08-15 Variable 1.76800000 N N N N N N Qualitas Ltd N/A N/A 47681.00000000 NS 82730.05000000 0.109926958191 Long EC CORP AU N 1 N N N Sekisui House Reit Inc N/A N/A 791.00000000 NS 429465.68000000 0.570649429680 Long EC CORP JP N 1 N N N 2026-05-30 PRINCIPAL REAL ESTATE INCOME FUND Erich Rettinger Erich Rettinger Treasurer