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        <name>Fowler Route Co., Inc Delayed Draw Term Loan</name>
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        <name>Credit Acceptance Corp</name>
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        <name>Rocket Cos Inc</name>
        <lei>N/A</lei>
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        <name>DecisionPoint Technologies, Inc. Term Loan</name>
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        <name>Clydesdale Acquisition Holdings Inc</name>
        <lei>254900QKSDYFR3K5YD98</lei>
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        <name>Victra Holdings LLC / Victra Finance Corp</name>
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        <name>Directv Financing LLC / Directv Financing Co-Obligor Inc</name>
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        <name>SSA Acquisition Holdco, LLC Delayed Draw Term Loan</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Pediatric Home Respiratory Services, LLC Term Loan</name>
        <lei>N/A</lei>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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        <name>SDG MGMT Company, LLC Term Loan</name>
        <lei>N/A</lei>
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        <fairValLevel>3</fairValLevel>
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          <ticker value="MVRXX"/>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>CCO Holdings LLC / CCO Holdings Capital Corp</name>
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        <name>Stonegrove Roofing, LLC Delayed Draw Term Loan</name>
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        <name>Diaspora Tea &amp; Herb Company, LLC Delayed Draw Term Loan</name>
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      <invstOrSec>
        <name>Kano Intermediate Inc. Delayed Draw Term Loan</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hill Country Dairies, Inc. Term Loan</name>
        <lei>N/A</lei>
        <title>Hill Country Dairies, Inc. Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="9001283"/>
          <other otherDesc="Internal Identifier" value="9001283"/>
        </identifiers>
        <balance>1529483.52000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1534876.22000000</valUSD>
        <pctVal>1.182927788918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.42000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CEV Multimedia, LLC Term Loan</name>
        <lei>N/A</lei>
        <title>CEV Multimedia, LLC Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="9001136"/>
          <other otherDesc="Internal Identifier" value="9001136"/>
        </identifiers>
        <balance>239666.26000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>239666.26000000</valUSD>
        <pctVal>0.184710581430</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.97000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Michaels Cos Inc/The Term Loan B</name>
        <lei>549300H9LWMBP7HYLR98</lei>
        <title>Michaels Cos Inc/The Term Loan B</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="MIK"/>
        </identifiers>
        <balance>565000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>561610.00000000</valUSD>
        <pctVal>0.432832346268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.60000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Barricade Holdings LLC Delayed Draw Term Loan</name>
        <lei>N/A</lei>
        <title>Barricade Holdings LLC Delayed Draw Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="9001529"/>
          <other otherDesc="Internal Identifier" value="9001529"/>
        </identifiers>
        <balance>276127.63000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>271985.72000000</valUSD>
        <pctVal>0.209619161587</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.37000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CompletePet Florida, LLC Term Loan</name>
        <lei>N/A</lei>
        <title>CompletePet Florida, LLC Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="9001438"/>
          <other otherDesc="Internal Identifier" value="9001438"/>
        </identifiers>
        <balance>595500.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>595338.08000000</valUSD>
        <pctVal>0.458826548653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Douglas Holdings, Inc. Delayed Draw Term Loan</name>
        <lei>N/A</lei>
        <title>Douglas Holdings, Inc. Delayed Draw Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="9001292"/>
          <other otherDesc="Internal Identifier" value="9001292"/>
        </identifiers>
        <balance>257064.74000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>255618.93000000</valUSD>
        <pctVal>0.197005290544</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.48000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KL Charlie Acquisition Corp Delayed Draw Term Loan</name>
        <lei>N/A</lei>
        <title>KL Charlie Acquisition Corp Delayed Draw Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="9001546"/>
          <other otherDesc="Internal Identifier" value="9001546"/>
        </identifiers>
        <balance>1376228.63000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1362466.34000000</valUSD>
        <pctVal>1.050051641983</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.97000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Orion Midco LLC Term Loan</name>
        <lei>N/A</lei>
        <title>Orion Midco LLC Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="9001319"/>
          <other otherDesc="Internal Identifier" value="9001319"/>
        </identifiers>
        <balance>2071404.66000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2086780.24000000</valUSD>
        <pctVal>1.608279744709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.89000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Joint Ventures are not always designated in units. Amount may represent the ownership of the Fund." noteItem="C.2.a"/>
      <explntrNote note="Returns shown in Item B.5.a have been calculated without deducting any applicable sales loads or redemption fees" noteItem="B.5.a"/>
      <explntrNote note="Cash and cash equivalents includes USD and only foreign currencies considered highly liquid." noteItem="B.2.f"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-07-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Principal Private Credit Fund</ncom:nameOfApplicant>
      <ncom:signature>Megan Hoffmann</ncom:signature>
      <ncom:signerName>/s/ Megan Hoffmann</ncom:signerName>
      <ncom:title>Vice President and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
