Schedule of Investments | ||||
Principal Active High Yield ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS — 87.80% | Amount | Value | ||
Aerospace & Defense — 1.10% | ||||
Bombardier, Inc. | ||||
7.50%, 03/15/2025 (a) | $ | 634,000 | $ | 616,495 |
Triumph Group, Inc. | ||||
7.75%, 08/15/2025 (b) | 2,431,000 | 1,857,790 | ||
$ | 2,474,285 | |||
Airlines — 0.08% | ||||
United Airlines 2016-1 Class B Pass Through Trust | ||||
3.65%, 07/07/2027 | 204,042 | 178,826 | ||
Auto Manufacturers — 1.89% | ||||
Ford Motor Co. | ||||
3.25%, 02/12/2032 | 2,140,000 | 1,541,506 | ||
Ford Motor Credit Co. LLC | ||||
3.38%, 11/13/2025 | 2,276,000 | 2,010,862 | ||
4.39%, 01/08/2026 | 114,000 | 103,182 | ||
4.54%, 08/01/2026 | 672,000 | 598,346 | ||
$ | 4,253,896 | |||
Auto Parts & Equipment — 1.49% | ||||
Tenneco, Inc. | ||||
7.88%, 01/15/2029 (a) | 3,435,000 | 3,343,689 | ||
Banks — 1.03% | ||||
JPMorgan Chase & Co. | ||||
(6-month Secured Overnight Financing Rate + 3.13%), | ||||
4.60%, 02/01/2025 (c),(d) | 2,662,000 | 2,318,868 | ||
Chemicals — 2.66% | ||||
Consolidated Energy Finance SA | ||||
5.63%, 10/15/2028 (a) | 3,329,000 | 2,670,521 | ||
Kobe U.S. Midco 2, Inc. | ||||
9.25%, PIK 10.00%; 11/01/2026 (a),(e) | 762,000 | 601,980 | ||
Olympus Water U.S. Holding Corp. | ||||
6.25%, 10/01/2029 (a),(b) | 1,879,000 | 1,287,115 | ||
Tronox, Inc. | ||||
4.63%, 03/15/2029 (a) | 1,934,000 | 1,431,160 | ||
$ | 5,990,776 | |||
Commercial Services — 5.24% | ||||
Ahern Rentals, Inc. | ||||
7.38%, 05/15/2023 (a) | 2,130,000 | 1,434,871 | ||
Albion Financing 1 SARL/Aggreko Holdings, Inc. | ||||
6.13%, 10/15/2026 (a) | 2,430,000 | 2,054,394 | ||
Garda World Security Corp. | ||||
6.00%, 06/01/2029 (a) | 358,000 | 262,483 | ||
9.50%, 11/01/2027 (a) | 2,456,000 | 2,154,710 | ||
WASH Multifamily Acquisition, Inc. | ||||
5.75%, 04/15/2026 (a) | 3,195,000 | 2,945,486 | ||
ZipRecruiter, Inc. | ||||
5.00%, 01/15/2030 (a) | 3,632,000 | 2,932,840 | ||
$ | 11,784,784 | |||
Construction Materials — 1.40% | ||||
SRM Escrow Issuer LLC | ||||
6.00%, 11/01/2028 (a) | 3,881,000 | 3,154,244 |
See accompanying notes.
1
Schedule of Investments | ||||
Principal Active High Yield ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Diversified Financial Services — 5.86% | ||||
AerCap Holdings NV | ||||
(5-year Treasury Constant Maturity Rate + 4.54%), | ||||
5.88%, 10/10/2079 (c) | $ | 4,225,000 | $ | 3,771,467 |
Credit Acceptance Corp. | ||||
6.63%, 03/15/2026 | 3,653,000 | 3,388,158 | ||
Global Aircraft Leasing Co. Ltd. | ||||
6.50%, PIK 7.25%; 09/15/2024 (a),(e) | 3,753,570 | 2,824,561 | ||
OneMain Finance Corp. | ||||
4.00%, 09/15/2030 | 3,457,000 | 2,425,812 | ||
6.63%, 01/15/2028 | 906,000 | 777,348 | ||
$ | 13,187,346 | |||
Electric — 4.57% | ||||
Clearway Energy Operating LLC | ||||
4.75%, 03/15/2028 (a) | 3,641,000 | 3,241,949 | ||
GenOn Energy, Inc. | ||||
0.00%, 10/15/2020 (f),(g),(h) | 3,100,000 | — | ||
NRG Energy, Inc. | ||||
3.88%, 02/15/2032 (a) | 4,226,000 | 3,296,470 | ||
Vistra Corp. | ||||
(5-year Treasury Constant Maturity Rate + 5.74%), | ||||
7.00%, 12/15/2026 (a),(c),(d) | 1,657,000 | 1,446,578 | ||
Vistra Operations Co. LLC | ||||
4.38%, 05/01/2029 (a) | 2,748,000 | 2,285,594 | ||
$ | 10,270,591 | |||
Electronics — 1.37% | ||||
Sensata Technologies BV | ||||
4.00%, 04/15/2029 (a) | 400,000 | 330,996 | ||
Sensata Technologies, Inc. | ||||
3.75%, 02/15/2031 (a) | 3,498,000 | 2,755,392 | ||
$ | 3,086,388 | |||
Entertainment — 9.89% | ||||
Boyne USA, Inc. | ||||
4.75%, 05/15/2029 (a) | 4,490,000 | 3,761,427 | ||
CCM Merger, Inc. | ||||
6.38%, 05/01/2026 (a) | 3,614,000 | 3,297,956 | ||
CDI Escrow Issuer, Inc. | ||||
5.75%, 04/01/2030 (a) | 2,740,000 | 2,392,883 | ||
Cinemark USA, Inc. | ||||
5.25%, 07/15/2028 (a) | 3,440,000 | 2,645,670 | ||
International Game Technology PLC | ||||
5.25%, 01/15/2029 (a) | 4,469,000 | 3,958,506 | ||
Lions Gate Capital Holdings LLC | ||||
5.50%, 04/15/2029 (a) | 3,446,000 | 2,567,270 | ||
Peninsula Pacific Entertainment LLC/Peninsula Pacific Entertainment Finance, | ||||
Inc. | ||||
8.50%, 11/15/2027 (a) | 3,356,000 | 3,611,895 | ||
$ | 22,235,607 | |||
Food — 2.61% | ||||
Chobani LLC/Chobani Finance Corp., Inc. | ||||
7.50%, 04/15/2025 (a),(b) | 2,910,000 | 2,662,126 | ||
Pilgrim's Pride Corp. | ||||
3.50%, 03/01/2032 (a) | 3,729,000 | 2,811,182 |
See accompanying notes.
2
Schedule of Investments | ||||
Principal Active High Yield ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Food (continued) | ||||
Pilgrim's Pride Corp. (continued) | ||||
4.25%, 04/15/2031 (a) | $ | 497,000 | $ | 396,740 |
$ | 5,870,048 | |||
Forest Products & Paper — 0.58% | ||||
Mercer International, Inc. | ||||
5.13%, 02/01/2029 | 1,643,000 | 1,309,274 | ||
Healthcare — Services — 4.12% | ||||
Acadia Healthcare Co., Inc. | ||||
5.00%, 04/15/2029 (a) | 3,935,000 | 3,484,888 | ||
Centene Corp. | ||||
2.50%, 03/01/2031 | 1,749,000 | 1,318,364 | ||
3.38%, 02/15/2030 | 2,383,000 | 1,948,102 | ||
CHS/Community Health Systems, Inc. | ||||
6.00%, 01/15/2029 (a) | 3,407,000 | 2,504,100 | ||
$ | 9,255,454 | |||
Home Builders — 1.25% | ||||
Forestar Group, Inc. | ||||
3.85%, 05/15/2026 (a) | 644,000 | 529,697 | ||
5.00%, 03/01/2028 (a) | 2,845,000 | 2,282,344 | ||
$ | 2,812,041 | |||
Insurance — 0.82% | ||||
Acrisure LLC/Acrisure Finance, Inc. | ||||
4.25%, 02/15/2029 (a) | 439,000 | 344,035 | ||
7.00%, 11/15/2025 (a) | 1,635,000 | 1,493,401 | ||
$ | 1,837,436 | |||
Investment Companies — 0.85% | ||||
Compass Group Diversified Holdings LLC | ||||
5.25%, 04/15/2029 (a) | 2,450,000 | 1,922,589 | ||
Iron & Steel — 0.60% | ||||
TMS International Corp. | ||||
6.25%, 04/15/2029 (a) | 1,895,000 | 1,345,166 | ||
Leisure Time — 1.51% | ||||
Life Time, Inc. | ||||
5.75%, 01/15/2026 (a) | 3,736,000 | 3,399,760 | ||
Media — 5.71% | ||||
CCO Holdings LLC/CCO Holdings Capital Corp. | ||||
4.75%, 02/01/2032 (a) | 1,225,000 | 954,006 | ||
Directv Financing LLC/Directv Financing Co.-Obligor, Inc. | ||||
5.88%, 08/15/2027 (a) | 4,275,000 | 3,685,520 | ||
DISH DBS Corp. | ||||
5.13%, 06/01/2029 | 407,000 | 239,113 | ||
5.25%, 12/01/2026 (a) | 13,284 | 10,883 | ||
5.88%, 11/15/2024 | 1,121,000 | 1,000,492 | ||
7.38%, 07/01/2028 | 1,937,000 | 1,304,271 | ||
Scripps Escrow II, Inc. | ||||
5.38%, 01/15/2031 (a) | 1,281,000 | 970,382 | ||
Sirius XM Radio, Inc. | ||||
3.13%, 09/01/2026 (a) | 3,815,000 | 3,350,428 |
See accompanying notes.
3
Schedule of Investments | ||||
Principal Active High Yield ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Media (continued) | ||||
UPC Holding BV | ||||
5.50%, 01/15/2028 (a) | $ | 1,580,000 | $ | 1,327,200 |
$ | 12,842,295 | |||
Mining — 2.96% | ||||
Copper Mountain Mining Corp. | ||||
8.00%, 04/09/2026 (a) | 2,087,119 | 1,815,793 | ||
First Quantum Minerals Ltd. | ||||
6.88%, 10/15/2027 (a) | 1,655,000 | 1,489,500 | ||
Novelis Corp. | ||||
3.88%, 08/15/2031 (a) | 2,202,000 | 1,642,516 | ||
Taseko Mines Ltd. | ||||
7.00%, 02/15/2026 (a) | 2,155,000 | 1,713,225 | ||
$ | 6,661,034 | |||
Oil & Gas — 6.56% | ||||
Aethon United BR LP/Aethon United Finance Corp. | ||||
8.25%, 02/15/2026 (a) | 3,528,000 | 3,409,248 | ||
Antero Resources Corp. | ||||
7.63%, 02/01/2029 (a) | 2,660,000 | 2,655,079 | ||
Apache Corp. | ||||
4.75%, 04/15/2043 | 90,000 | 67,082 | ||
5.10%, 09/01/2040 | 2,288,000 | 1,847,022 | ||
5.25%, 02/01/2042 | 192,000 | 156,225 | ||
Ascent Resources Utica Holdings LLC/ARU Finance Corp. | ||||
7.00%, 11/01/2026 (a) | 1,216,000 | 1,172,388 | ||
Comstock Resources, Inc. | ||||
5.88%, 01/15/2030 (a) | 1,400,000 | 1,219,337 | ||
MEG Energy Corp. | ||||
7.13%, 02/01/2027 (a) | 2,334,000 | 2,369,010 | ||
Occidental Petroleum Corp. | ||||
6.13%, 01/01/2031 | 379,000 | 373,315 | ||
6.63%, 09/01/2030 | 1,467,000 | 1,489,005 | ||
$ | 14,757,711 | |||
Oil & Gas Services — 0.97% | ||||
Archrock Partners LP/Archrock Partners Finance Corp. | ||||
6.25%, 04/01/2028 (a) | 2,487,000 | 2,186,061 | ||
Packaging & Containers — 1.16% | ||||
Clydesdale Acquisition Holdings, Inc. | ||||
6.63%, 04/15/2029 (a) | 397,000 | 361,246 | ||
8.75%, 04/15/2030 (a) | 1,378,000 | 1,139,647 | ||
LABL, Inc. | ||||
5.88%, 11/01/2028 (a) | 281,000 | 227,582 | ||
8.25%, 11/01/2029 (a) | 1,197,000 | 870,059 | ||
$ | 2,598,534 | |||
Pharmaceuticals — 2.37% | ||||
BellRing Brands, Inc. | ||||
7.00%, 03/15/2030 (a) | 2,172,000 | 1,986,729 | ||
Jazz Securities DAC | ||||
4.38%, 01/15/2029 (a) | 3,863,000 | 3,336,666 | ||
$ | 5,323,395 |
See accompanying notes.
4
Schedule of Investments | ||||
Principal Active High Yield ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Pipelines — 8.24% | ||||
Antero Midstream Partners LP/Antero Midstream Finance Corp. | ||||
5.38%, 06/15/2029 (a) | $ | 2,251,000 | $ | 1,987,408 |
5.75%, 03/01/2027 (a) | 1,425,000 | 1,317,935 | ||
CNX Midstream Partners LP | ||||
4.75%, 04/15/2030 (a) | 3,395,000 | 2,664,769 | ||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp. | ||||
5.63%, 05/01/2027 (a) | 3,701,000 | 3,349,405 | ||
EnLink Midstream LLC | ||||
6.50%, 09/01/2030 (a) | 2,338,000 | 2,283,057 | ||
Hess Midstream Operations LP | ||||
4.25%, 02/15/2030 (a) | 2,717,000 | 2,193,978 | ||
Kinetik Holdings LP | ||||
5.88%, 06/15/2030 (a) | 3,718,000 | 3,404,420 | ||
Targa Resources Partners LP/Targa Resources Partners Finance Corp. | ||||
4.88%, 02/01/2031 | 1,542,000 | 1,326,120 | ||
$ | 18,527,092 | |||
REITs — 2.43% | ||||
CBL & Associates LP | ||||
0.00%, 12/15/2026 (f),(g),(h) | 6,000,000 | — | ||
HAT Holdings I LLC/HAT Holdings II LLC | ||||
3.38%, 06/15/2026 (a) | 2,630,000 | 2,110,575 | ||
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. | ||||
4.75%, 06/15/2029 (a) | 4,479,000 | 3,353,203 | ||
$ | 5,463,778 | |||
Retail — 4.99% | ||||
Bath & Body Works, Inc. | ||||
5.25%, 02/01/2028 | 791,000 | 685,388 | ||
6.63%, 10/01/2030 (a) | 1,320,000 | 1,148,400 | ||
9.38%, 07/01/2025 (a) | 384,000 | 397,440 | ||
BCPE Ulysses Intermediate, Inc. | ||||
7.75%, PIK 8.50%; 04/01/2027 (a),(e) | 879,000 | 598,034 | ||
Dave & Buster's, Inc. | ||||
7.63%, 11/01/2025 (a) | 2,302,000 | 2,267,470 | ||
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc. | ||||
4.63%, 01/15/2029 (a) | 1,686,000 | 1,395,165 | ||
6.75%, 01/15/2030 (a) | 1,147,000 | 871,106 | ||
LSF9 Atlantis Holdings LLC/Victra Finance Corp. | ||||
7.75%, 02/15/2026 (a) | 2,453,000 | 2,189,303 | ||
Park River Holdings, Inc. | ||||
5.63%, 02/01/2029 (a) | 1,390,000 | 902,018 | ||
Patrick Industries, Inc. | ||||
4.75%, 05/01/2029 (a) | 1,025,000 | 763,994 | ||
$ | 11,218,318 | |||
Telecommunications — 2.29% | ||||
DKT Finance ApS | ||||
9.38%, 06/17/2023 (a) | 2,701,000 | 2,599,712 | ||
Maxar Technologies, Inc. | ||||
7.75%, 06/15/2027 (a) | 2,713,000 | 2,549,840 | ||
$ | 5,149,552 | |||
Transportation — 1.20% | ||||
Watco Cos. LLC/Watco Finance Corp. | ||||
6.50%, 06/15/2027 (a) | 2,954,000 | 2,688,597 | ||
TOTAL BONDS | $ | 197,447,435 |
See accompanying notes. 5
Schedule of Investments | |||||
Principal Active High Yield ETF | |||||
September 30, 2022 (unaudited) | |||||
Principal | |||||
SENIOR FLOATING RATE INTERESTS — 6.85% | Amount | Value | |||
Airlines — 2.40% | |||||
AAdvantage Loyalty IP Ltd., 2021 Term Loan | |||||
(3-month USD LIBOR + 4.75%), | |||||
7.46%, 04/20/2028 | $ | 3,355,000 | $ | 3,244,285 | |
United Airlines, Inc., 2021 Term Loan B | |||||
(3-month USD LIBOR + 3.75%), | |||||
6.53%, 04/21/2028 | 2,267,043 | 2,159,676 | |||
$ | 5,403,961 | ||||
Forest Products & Paper — 1.46% | |||||
Spectrum Group Buyer, Inc., 2022 Term Loan B | |||||
(3-month Term Secured Overnight Financing Rate + 6.50%), | |||||
9.44%, 05/19/2028 | 3,425,000 | 3,284,781 | |||
Insurance — 1.84% | |||||
Acrisure LLC, 2020 Term Loan B | |||||
(1-month USD LIBOR + 3.50%), | |||||
6.62%, 02/15/2027 | 1,645,193 | 1,500,547 | |||
Asurion LLC, 2021 2nd Lien Term Loan B3 | |||||
(1-month USD LIBOR + 5.25%), | |||||
8.37%, 01/31/2028 | 3,505,000 | 2,628,750 | |||
$ | 4,129,297 | ||||
Lodging — 0.50% | |||||
Fertitta Entertainment LLC, 2022 Term Loan B | |||||
(1-month Term Secured Overnight Financing Rate + 4.00%), | |||||
7.03%, 01/27/2029 | 1,205,168 | 1,116,033 | |||
Packaging & Containers — 0.65% | |||||
Valcour Packaging LLC, 2021 1st Lien Term Loan | |||||
(6-month USD LIBOR + 3.75%), | |||||
5.22%, 10/04/2028 | 1,596,000 | 1,462,335 | |||
TOTAL SENIOR FLOATING RATE INTERESTS | $ | 15,396,407 | |||
INVESTMENT COMPANIES — 4.43% | Shares Held | Value | |||
Money Market Funds — 4.43% | |||||
Principal Government Money Market Fund — Institutional Class 2.80% (i),(j),(k) | 1,806,135 | $ | 1,806,135 | ||
State Street Institutional U.S. Government Money Market Fund — Institutional | |||||
Class 0.80% (i) | 8,157,979 | 8,157,979 | |||
TOTAL INVESTMENT COMPANIES | $ | 9,964,114 | |||
Total Investments | $ | 222,807,956 | |||
Other Assets and Liabilities — 0.92% | 2,066,814 | ||||
Total Net Assets — 100.00% | $ | 224,874,770 | |||
(a) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in | ||||
transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these | |||||
securities totaled $165,411,497 or 73.56% of net assets. | |||||
(b) | Security or a portion of the security was on loan. At the end of the period, the value of these securities totaled $1,784,854 or | ||||
0.79% of net assets. | |||||
(c) | Rate shown is as of period end. The rate may be a variable or floating rate or a fixed rate which may convert to a variable or | ||||
floating rate in the future. | |||||
(d) | Perpetual security. Perpetual securities pay an indefinite stream of interest, but they may be called by the issuer at an earlier | ||||
date. Date shown, if any, reflects the next call date or final legal maturity date. Rate shown is as of period end. | |||||
(e) | Payment in kind; the issuer has the option of paying additional securities in lieu of cash. | ||||
(f) | The value of these investments was determined using significant unobservable inputs, in good faith by the Advisor, under | ||||
procedures established and periodically reviewed by the Board of Trustees. | |||||
(g) | Security is defaulted. | ||||
(h) | Non-income producing security. |
See accompanying notes. 6
Schedule of Investments
Principal Active High Yield ETF
September 30, 2022 (unaudited)
(i) | Current yield shown is as of period end. |
(j) | Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate as defined by the Investment Company Act of 1940 (controls 5.00% or more of the outstanding voting shares of the security). |
Please see Affiliated Securities sub-schedule for transactional information. | |
(k) | Security or a portion of the security was received as collateral for securities lending. At the end of the period, the value of these securities totaled $1,806,135 or 0.80% of net assets. |
Portfolio Summary (unaudited) | ||||||||||
Sector | Percent | |||||||||
Consumer, Cyclical | 24.00 | % | ||||||||
Energy | 15.77 | % | ||||||||
Consumer, Non-cyclical | 14.33 | % | ||||||||
Financial | 12.83 | % | ||||||||
Basic Materials | 8.27 | % | ||||||||
Communications | 8.00 | % | ||||||||
Industrial | 6.88 | % | ||||||||
Utilities | 4.57 | % | ||||||||
Money Market Funds | 4.43 | % | ||||||||
Other Assets and Liabilities | 0.92 | % | ||||||||
TOTAL NET ASSETS | 100.00 | % | ||||||||
June 30, 2022 | Purchases | Sales | September 30, 2022 | |||||||
Affiliated Securities | Value | Cost | Proceeds | Value | ||||||
Principal Government Money | ||||||||||
Market Fund — Institutional Class | ||||||||||
2.80 | % | $ | 5,781,485 | $ | 13,353,225 | $ | 17,328,575 | $ | 1,806,135 | |
$ | 5,781,485 | $ | 13,353,225 | $ | 17,328,575 | $ | 1,806,135 | |||
Realized Gain | ||||||||||
Realized | from | Change in | ||||||||
Gain/(Loss) on | Capital Gain | Unrealized | ||||||||
Income (a) | Investments | Distributions | Gain/(Loss) | |||||||
Principal Government Money | ||||||||||
Market Fund — Institutional Class | ||||||||||
2.80 | % | $ | — | $ | — | $ | — | $ | — | |
$ | — | $ | — | $ | — | $ | — | |||
(a) Amount excludes earnings from securities lending collateral. |
See accompanying notes.
7
Schedule of Investments | |||
Principal Healthcare Innovators ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS — 99.64% | Shares Held | Value | |
Biotechnology — 51.78% | |||
2seventy bio, Inc. (a) | 4,349 | $ | 63,278 |
Absci Corp. (a) | 10,707 | 33,513 | |
ACADIA Pharmaceuticals, Inc. (a) | 18,930 | 309,695 | |
ADMA Biologics, Inc. (a) | 22,645 | 55,027 | |
Agenus, Inc. (a) | 29,738 | 60,963 | |
Akero Therapeutics, Inc. (a) | 4,049 | 137,868 | |
Albireo Pharma, Inc. (a) | 2,239 | 43,347 | |
Aldeyra Therapeutics, Inc. (a) | 6,718 | 35,874 | |
Allakos, Inc. (a),(b) | 6,281 | 38,440 | |
Allogene Therapeutics, Inc. (a) | 16,508 | 178,286 | |
Alnylam Pharmaceuticals, Inc. (a) | 12,515 | 2,505,002 | |
Altimmune, Inc. (a) | 4,595 | 58,678 | |
ALX Oncology Holdings, Inc. (a) | 4,698 | 44,960 | |
Amicus Therapeutics, Inc. (a) | 32,387 | 338,120 | |
AnaptysBio, Inc. (a) | 3,196 | 81,530 | |
Anavex Life Sciences Corp. (a) | 8,808 | 90,899 | |
Apellis Pharmaceuticals, Inc. (a) | 11,480 | 784,084 | |
Applied Molecular Transport, Inc. (a) | 4,469 | 4,349 | |
Arcturus Therapeutics Holdings, Inc. (a) | 3,048 | 45,171 | |
Arcus Biosciences, Inc. (a) | 8,217 | 214,957 | |
Arcutis Biotherapeutics, Inc. (a) | 5,825 | 111,316 | |
Arrowhead Pharmaceuticals, Inc. (a) | 12,387 | 409,390 | |
Atara Biotherapeutics, Inc. (a) | 10,765 | 40,692 | |
Atea Pharmaceuticals, Inc. (a) | 9,624 | 54,761 | |
Atossa Therapeutics, Inc. (a) | 14,642 | 12,201 | |
Avidity Biosciences, Inc. (a) | 5,423 | 88,558 | |
Axsome Therapeutics, Inc. (a) | 4,358 | 194,454 | |
Beam Therapeutics, Inc. (a) | 7,948 | 378,643 | |
Berkeley Lights, Inc. (a) | 7,823 | 22,374 | |
BioAtla, Inc. (a),(b) | 4,143 | 31,901 | |
BioCryst Pharmaceuticals, Inc. (a) | 21,355 | 269,073 | |
Biohaven Pharmaceutical Holding Co. Ltd. (a) | 8,271 | 1,250,327 | |
BioMarin Pharmaceutical, Inc. (a) | 21,532 | 1,825,268 | |
Bluebird Bio, Inc. (a) | 8,107 | 51,317 | |
Blueprint Medicines Corp. (a) | 6,964 | 458,858 | |
Bridgebio Pharma, Inc. (a) | 17,070 | 169,676 | |
C4 Therapeutics, Inc. (a) | 5,636 | 49,428 | |
Cara Therapeutics, Inc. (a) | 6,181 | 57,854 | |
Caribou Biosciences, Inc. (a) | 6,959 | 73,417 | |
Cassava Sciences, Inc. (a),(b) | 4,628 | 193,543 | |
CEL-SCI Corp. (a),(b) | 5,003 | 15,459 | |
Celldex Therapeutics, Inc. (a) | 5,404 | 151,906 | |
Cerevel Therapeutics Holdings, Inc. (a) | 17,386 | 491,328 | |
Certara, Inc. (a) | 18,801 | 249,677 | |
ChemoCentryx, Inc. (a) | 8,099 | 418,394 | |
CRISPR Therapeutics AG (a) | 9,059 | 592,006 | |
CTI BioPharma Corp. (a) | 11,181 | 65,073 | |
Cullinan Oncology, Inc. (a) | 5,051 | 64,754 | |
Curis, Inc. (a) | 10,597 | 7,418 | |
CytomX Therapeutics, Inc. (a) | 7,545 | 10,940 | |
Deciphera Pharmaceuticals, Inc. (a) | 6,771 | 125,263 | |
Denali Therapeutics, Inc. (a) | 14,467 | 443,992 | |
Dynavax Technologies Corp. (a) | 14,446 | 150,816 | |
Editas Medicine, Inc. (a) | 7,924 | 96,990 | |
EQRx, Inc. (a),(b) | 54,367 | 269,117 | |
Erasca, Inc. (a),(b) | 14,022 | 109,372 | |
Esperion Therapeutics, Inc. (a) | 7,264 | 48,669 | |
Evolus, Inc. (a) | 6,426 | 51,729 |
See accompanying notes.
8
Schedule of Investments | ||||
Principal Healthcare Innovators ETF | ||||
September 30, 2022 (unaudited) | ||||
COMMON STOCKS (continued) | Shares Held | Value | ||
Biotechnology (continued) | ||||
Fate Therapeutics, Inc. (a) | 11,150 | $ | 249,871 | |
FibroGen, Inc. (a) | 10,755 | 139,923 | ||
Forma Therapeutics Holdings, Inc. (a) | 5,481 | 109,346 | ||
Generation Bio Co. (a) | 6,591 | 34,998 | ||
Global Blood Therapeutics, Inc. (a) | 7,495 | 510,409 | ||
Gossamer Bio, Inc. (a) | 8,842 | 105,927 | ||
Guardant Health, Inc. (a) | 11,944 | 642,946 | ||
Humanigen, Inc. (a) | 7,554 | 1,360 | ||
Ideaya Biosciences, Inc. (a) | 4,452 | 66,424 | ||
IGM Biosciences, Inc. (a) | 3,011 | 68,470 | ||
ImmunityBio, Inc. (a),(b) | 46,004 | 228,640 | ||
ImmunoGen, Inc. (a) | 25,503 | 121,904 | ||
Immunovant, Inc. (a) | 13,460 | 75,107 | ||
Inhibrx, Inc. (a) | 4,512 | 80,990 | ||
Inovio Pharmaceuticals, Inc. (a) | 24,330 | 41,969 | ||
Insmed, Inc. (a) | 13,751 | 296,197 | ||
Intellia Therapeutics, Inc. (a) | 8,781 | 491,385 | ||
Intercept Pharmaceuticals, Inc. (a) | 3,419 | 47,695 | ||
Intra-Cellular Therapies, Inc. (a) | 10,849 | 504,804 | ||
Ionis Pharmaceuticals, Inc. (a) | 16,627 | 735,412 | ||
Iovance Biotherapeutics, Inc. (a) | 18,175 | 174,116 | ||
iTeos Therapeutics, Inc. (a) | 4,078 | 77,686 | ||
IVERIC bio, Inc. (a) | 13,377 | 239,983 | ||
Karuna Therapeutics, Inc. (a) | 3,507 | 788,830 | ||
Karyopharm Therapeutics, Inc. (a) | 8,736 | 47,699 | ||
Keros Therapeutics, Inc. (a) | 2,707 | 101,837 | ||
Kezar Life Sciences, Inc. (a) | 5,682 | 48,922 | ||
Kiniksa Pharmaceuticals Ltd., Class A (a) | 3,943 | 50,628 | ||
Kodiak Sciences, Inc. (a) | 5,979 | 46,277 | ||
Krystal Biotech, Inc. (a) | 2,914 | 203,106 | ||
Kymera Therapeutics, Inc. (a) | 5,979 | 130,163 | ||
MacroGenics, Inc. (a) | 7,091 | 24,535 | ||
MEI Pharma, Inc. (a) | 15,378 | 5,945 | ||
Mersana Therapeutics, Inc. (a) | 9,643 | 65,187 | ||
Mirati Therapeutics, Inc. (a) | 6,527 | 455,846 | ||
Myriad Genetics, Inc. (a) | 9,254 | 176,566 | ||
Nektar Therapeutics (a) | 21,342 | 68,294 | ||
NeoGenomics, Inc. (a) | 14,342 | 123,485 | ||
NGM Biopharmaceuticals, Inc. (a) | 8,985 | 117,524 | ||
Novavax, Inc. (a),(b) | 8,894 | 161,871 | ||
NRX Pharmaceuticals, Inc. (a) | 6,801 | 5,033 | ||
Nurix Therapeutics, Inc. (a) | 5,173 | 67,404 | ||
Nuvation Bio, Inc. (a) | 25,186 | 56,417 | ||
Omeros Corp. (a),(b) | 7,232 | 22,781 | ||
Precigen, Inc. (a) | 23,909 | 50,687 | ||
Precision BioSciences, Inc. (a) | 7,026 | 9,134 | ||
Prothena Corp. PLC (a) | 5,398 | 327,281 | ||
Provention Bio, Inc. (a),(b) | 7,328 | 32,976 | ||
PTC Therapeutics, Inc. (a) | 8,253 | 414,301 | ||
Quince Therapeutics, Inc. (a),(b) | 3,477 | 4,624 | ||
RAPT Therapeutics, Inc. (a) | 3,417 | 82,213 | ||
Recursion Pharmaceuticals, Inc., Class A (a) | 18,449 | 196,297 | ||
REGENXBIO, Inc. (a) | 4,945 | 130,696 | ||
Relay Therapeutics, Inc. (a) | 12,521 | 280,095 | ||
Replimune Group, Inc. (a) | 5,459 | 94,277 | ||
REVOLUTION Medicines, Inc. (a) | 8,578 | 169,158 | ||
Rigel Pharmaceuticals, Inc. (a) | 19,776 | 23,336 | ||
Rocket Pharmaceuticals, Inc. (a) | 7,460 | 119,062 |
See accompanying notes.
9
Schedule of Investments | ||||
Principal Healthcare Innovators ETF | ||||
September 30, 2022 (unaudited) | ||||
COMMON STOCKS (continued) | Shares Held | Value | ||
Biotechnology (continued) | ||||
Rubius Therapeutics, Inc. (a) | 10,417 | $ | 4,519 | |
Sage Therapeutics, Inc. (a) | 6,828 | 267,384 | ||
Sana Biotechnology, Inc. (a),(b) | 21,838 | 131,028 | ||
Sangamo Therapeutics, Inc. (a) | 16,880 | 82,712 | ||
Sarepta Therapeutics, Inc. (a) | 10,211 | 1,128,724 | ||
Scholar Rock Holding Corp. (a) | 4,058 | 28,122 | ||
Seagen, Inc. (a) | 14,184 | 1,940,797 | ||
Seer, Inc. (a) | 6,593 | 51,030 | ||
Sorrento Therapeutics, Inc. (a) | 42,281 | 66,381 | ||
SpringWorks Therapeutics, Inc. (a) | 5,706 | 162,792 | ||
Stoke Therapeutics, Inc. (a) | 4,255 | 54,634 | ||
Sutro Biopharma, Inc. (a) | 5,363 | 29,765 | ||
Syndax Pharmaceuticals, Inc. (a) | 6,077 | 146,030 | ||
TG Therapeutics, Inc. (a) | 16,516 | 97,775 | ||
Theravance Biopharma, Inc. (a) | 8,638 | 87,589 | ||
TransMedics Group, Inc. (a) | 3,233 | 134,945 | ||
Travere Therapeutics, Inc. (a) | 7,309 | 180,094 | ||
Twist Bioscience Corp. (a) | 6,488 | 228,637 | ||
Ultragenyx Pharmaceutical, Inc. (a) | 8,145 | 337,284 | ||
Vaxart, Inc. (a) | 14,549 | 31,717 | ||
Veracyte, Inc. (a) | 8,236 | 136,718 | ||
Vericel Corp. (a) | 5,439 | 126,185 | ||
Verve Therapeutics, Inc. (a) | 5,570 | 191,329 | ||
Viking Therapeutics, Inc. (a) | 9,062 | 24,649 | ||
Vir Biotechnology, Inc. (a) | 15,300 | 294,984 | ||
Xencor, Inc. (a) | 6,865 | 178,353 | ||
Zentalis Pharmaceuticals, Inc. (a) | 5,269 | 114,127 | ||
$ | 30,236,348 | |||
Chemicals — 0.08% | ||||
Codexis, Inc. (a) | 7,534 | 45,656 | ||
Commercial Services — 1.49% | ||||
HealthEquity, Inc. (a) | 9,811 | 659,005 | ||
Multiplan Corp. (a) | 73,852 | 211,217 | ||
$ | 870,222 | |||
Electronics — 0.02% | ||||
Standard BioTools, Inc. (a) | 8,927 | 9,820 | ||
Engineering & Construction — 0.10% | ||||
908 Devices, Inc. (a) | 3,612 | 59,417 | ||
Healthcare — Products — 18.07% | ||||
10X Genomics, Inc., Class A (a) | 10,959 | 312,112 | ||
Adaptive Biotechnologies Corp. (a) | 16,373 | 116,576 | ||
Alphatec Holdings, Inc. (a) | 11,539 | 100,851 | ||
AngioDynamics, Inc. (a) | 4,477 | 91,599 | ||
Artivion, Inc. (a) | 4,638 | 64,190 | ||
AtriCure, Inc. (a) | 5,323 | 208,129 | ||
Avanos Medical, Inc. (a) | 5,472 | 119,180 | ||
Axonics, Inc. (a) | 5,431 | 382,560 | ||
BioLife Solutions, Inc. (a) | 4,815 | 109,541 | ||
Bionano Genomics, Inc. (a),(b) | 33,493 | 61,292 | ||
Biora Therapeutics, Inc. (a) | 19,170 | 9,296 | ||
Butterfly Network, Inc. (a),(b) | 19,860 | 93,342 | ||
Cardiovascular Systems, Inc. (a) | 4,692 | 65,031 | ||
CareDx, Inc. (a) | 6,131 | 104,350 | ||
Castle Biosciences, Inc. (a) | 2,938 | 76,623 |
See accompanying notes.
10
Schedule of Investments | ||||
Principal Healthcare Innovators ETF | ||||
September 30, 2022 (unaudited) | ||||
COMMON STOCKS (continued) | Shares Held | Value | ||
Healthcare — Products (continued) | ||||
Cerus Corp. (a) | 20,090 | $ | 72,324 | |
Cue Health, Inc. (a),(b) | 16,927 | 50,950 | ||
Cutera, Inc. (a) | 2,089 | 95,258 | ||
DermTech, Inc. (a),(b) | 3,452 | 13,670 | ||
Eargo, Inc. (a) | 4,545 | 4,772 | ||
Exact Sciences Corp. (a) | 20,390 | 662,471 | ||
Glaukos Corp. (a) | 5,440 | 289,626 | ||
Inari Medical, Inc. (a) | 5,947 | 431,990 | ||
Inogen, Inc. (a) | 2,628 | 63,808 | ||
Inspire Medical Systems, Inc. (a) | 3,232 | 573,260 | ||
iRhythm Technologies, Inc. (a) | 3,470 | 434,722 | ||
Lantheus Holdings, Inc. (a) | 7,997 | 562,429 | ||
LivaNova PLC (a) | 6,995 | 355,136 | ||
MiMedx Group, Inc. (a) | 12,993 | 37,290 | ||
NanoString Technologies, Inc. (a) | 5,278 | 67,400 | ||
Natera, Inc. (a) | 11,232 | 492,186 | ||
Nevro Corp. (a) | 4,054 | 188,916 | ||
Novocure Ltd. (a) | 12,235 | 929,615 | ||
NuVasive, Inc. (a) | 5,987 | 262,291 | ||
OraSure Technologies, Inc. (a) | 8,361 | 31,688 | ||
OrthoPediatrics Corp. (a) | 2,283 | 105,338 | ||
Pacific Biosciences of California, Inc. (a) | 25,580 | 148,492 | ||
Penumbra, Inc. (a) | 4,414 | 836,894 | ||
PROCEPT BioRobotics Corp. (a) | 5,030 | 208,544 | ||
Pulmonx Corp. (a) | 4,280 | 71,305 | ||
Quanterix Corp. (a) | 4,261 | 46,956 | ||
Quantum-Si, Inc. (a),(b) | 13,586 | 37,362 | ||
Shockwave Medical, Inc. (a) | 4,183 | 1,163,167 | ||
SI-BONE, Inc. (a) | 3,912 | 68,304 | ||
Silk Road Medical, Inc. (a) | 4,049 | 182,205 | ||
SmileDirectClub, Inc. (a),(b) | 13,918 | 12,601 | ||
SomaLogic, Inc. (a) | 20,952 | 60,761 | ||
ViewRay, Inc. (a) | 20,747 | 75,519 | ||
$ | 10,551,922 | |||
Healthcare — Services — 7.91% | ||||
23andMe Holding Co., Class A (a),(b) | 24,420 | 69,841 | ||
Accolade, Inc. (a) | 7,743 | 88,425 | ||
agilon health, Inc. (a) | 47,021 | 1,101,232 | ||
American Well Corp., Class A (a) | 26,641 | 95,641 | ||
ATI Physical Therapy, Inc. (a),(b) | 22,828 | 22,828 | ||
Bright Health Group, Inc. (a),(b) | 72,714 | 76,350 | ||
Brookdale Senior Living, Inc. (a) | 21,461 | 91,638 | ||
Cano Health, Inc. (a) | 23,140 | 200,624 | ||
Clover Health Investments Corp. (a) | 43,777 | 74,421 | ||
Ginkgo Bioworks Holdings, Inc. (a),(b) | 139,838 | 436,295 | ||
Inotiv, Inc. (a) | 2,944 | 49,606 | ||
Invitae Corp. (a),(b) | 26,408 | 64,964 | ||
LifeStance Health Group, Inc. (a),(b) | 43,284 | 286,540 | ||
ModivCare, Inc. (a) | 2,249 | 224,180 | ||
Oak Street Health, Inc. (a) | 28,277 | 693,352 | ||
OPKO Health, Inc. (a) | 78,809 | 148,949 | ||
Personalis, Inc. (a) | 5,198 | 15,438 | ||
RadNet, Inc. (a) | 6,497 | 132,214 | ||
Sema4 Holdings Corp. (a) | 28,329 | 24,859 | ||
Surgery Partners, Inc. (a) | 10,493 | 245,536 | ||
Teladoc Health, Inc. (a) | 18,811 | 476,859 | ||
$ | 4,619,792 |
See accompanying notes.
11
Schedule of Investments | ||||
Principal Healthcare Innovators ETF | ||||
September 30, 2022 (unaudited) | ||||
COMMON STOCKS (continued) | Shares Held | Value | ||
Pharmaceuticals — 16.30% | ||||
Aclaris Therapeutics, Inc. (a) | 7,086 | $ | 111,534 | |
Aerie Pharmaceuticals, Inc. (a) | 5,596 | 84,668 | ||
Agios Pharmaceuticals, Inc. (a) | 6,318 | 178,673 | ||
Akebia Therapeutics, Inc. (a) | 20,233 | 6,398 | ||
Alector, Inc. (a) | 9,487 | 89,747 | ||
Alkermes PLC (a) | 19,016 | 424,627 | ||
Amneal Pharmaceuticals, Inc. (a) | 17,280 | 34,906 | ||
Arvinas, Inc. (a) | 6,135 | 272,946 | ||
Bioxcel Therapeutics, Inc. (a),(b) | 3,235 | 38,238 | ||
Chimerix, Inc. (a) | 10,045 | 19,387 | ||
Clovis Oncology, Inc. (a),(b) | 16,450 | 19,576 | ||
Coherus Biosciences, Inc. (a) | 8,936 | 85,875 | ||
Collegium Pharmaceutical, Inc. (a) | 3,859 | 61,821 | ||
Cytokinetics, Inc. (a) | 9,982 | 483,628 | ||
Eagle Pharmaceuticals, Inc. (a) | 1,493 | 39,445 | ||
Elanco Animal Health, Inc. (a) | 55,384 | 687,316 | ||
Enanta Pharmaceuticals, Inc. (a) | 2,375 | 123,191 | ||
Fulcrum Therapeutics, Inc. (a) | 4,689 | 37,934 | ||
G1 Therapeutics, Inc. (a) | 4,937 | 61,663 | ||
GoodRx Holdings, Inc., Class A (a) | 9,332 | 43,580 | ||
Gritstone bio, Inc. (a) | 7,862 | 20,205 | ||
Harmony Biosciences Holdings, Inc. (a) | 6,807 | 301,482 | ||
Heron Therapeutics, Inc. (a) | 11,811 | 49,842 | ||
Heska Corp. (a) | 1,248 | 91,004 | ||
Jazz Pharmaceuticals PLC (a) | 7,198 | 959,421 | ||
Kura Oncology, Inc. (a) | 7,702 | 105,209 | ||
Lyell Immunopharma, Inc. (a) | 27,809 | 203,840 | ||
Madrigal Pharmaceuticals, Inc. (a) | 1,978 | 128,550 | ||
MannKind Corp. (a) | 29,119 | 89,978 | ||
Marinus Pharmaceuticals, Inc. (a),(b) | 4,251 | 28,269 | ||
Morphic Holding, Inc. (a) | 4,290 | 121,407 | ||
Neurocrine Biosciences, Inc. (a) | 11,157 | 1,184,985 | ||
Ocugen, Inc. (a),(b) | 23,069 | 41,063 | ||
Ocular Therapeutix, Inc. (a) | 8,876 | 36,835 | ||
ORIC Pharmaceuticals, Inc. (a) | 4,554 | 14,573 | ||
Perrigo Co. PLC | 15,708 | 560,147 | ||
PetIQ, Inc. (a) | 3,368 | 23,239 | ||
PMV Pharmaceuticals, Inc. (a) | 5,247 | 62,439 | ||
Prometheus Biosciences, Inc. (a) | 4,502 | 265,663 | ||
Protagonist Therapeutics, Inc. (a) | 5,598 | 47,191 | ||
Reata Pharmaceuticals, Inc., Class A (a) | 3,640 | 91,473 | ||
Relmada Therapeutics, Inc. (a) | 3,205 | 118,649 | ||
Revance Therapeutics, Inc. (a) | 8,262 | 223,074 | ||
Rhythm Pharmaceuticals, Inc. (a) | 5,812 | 142,394 | ||
Senseonics Holdings, Inc. (a),(b) | 53,563 | 70,703 | ||
Seres Therapeutics, Inc. (a) | 10,621 | 68,187 | ||
uniQure NV (a) | 5,372 | 100,779 | ||
Vaxcyte, Inc. (a) | 6,512 | 156,288 | ||
Viatris, Inc. | 141,565 | 1,206,134 | ||
Xeris Biopharma Holdings, Inc. (a),(b) | 15,625 | 24,375 | ||
Y-mAbs Therapeutics, Inc. (a) | 5,047 | 72,778 | ||
$ | 9,515,329 | |||
Retail — 0.25% | ||||
Warby Parker, Inc., Class A (a) | 11,018 | 146,980 | ||
Software — 3.64% | ||||
1Life Healthcare, Inc. (a) | 22,216 | 381,004 | ||
Alignment Healthcare, Inc. (a) | 21,633 | 256,135 |
See accompanying notes.
12
Schedule of Investments | |||||||||||
Principal Healthcare Innovators ETF | |||||||||||
September 30, 2022 (unaudited) | |||||||||||
COMMON STOCKS (continued) | Shares Held | Value | |||||||||
Software (continued) | |||||||||||
Definitive Healthcare Corp. (a) | 11,262 | $ | 175,012 | ||||||||
Evolent Health, Inc., Class A (a) | 10,503 | 377,373 | |||||||||
Health Catalyst, Inc. (a) | 6,169 | 59,839 | |||||||||
Hims & Hers Health, Inc. (a) | 22,747 | 126,928 | |||||||||
Outset Medical, Inc. (a) | 5,482 | 87,328 | |||||||||
Phreesia, Inc. (a) | 5,925 | 150,969 | |||||||||
Privia Health Group, Inc. (a) | 12,315 | 419,449 | |||||||||
Sharecare, Inc. (a) | 39,208 | 74,495 | |||||||||
Tabula Rasa HealthCare, Inc. (a) | 2,975 | 14,280 | |||||||||
$ | 2,122,812 | ||||||||||
TOTAL COMMON STOCKS | $ | 58,178,298 | |||||||||
INVESTMENT COMPANIES — 3.37% | Shares Held | Value | |||||||||
Money Market Funds — 3.37% | |||||||||||
Principal Government Money Market Fund — Institutional Class 2.80% (c),(d),(e) | 1,740,395 | $ | 1,740,395 | ||||||||
State Street Institutional U.S. Government Money Market Fund — Institutional | |||||||||||
Class 0.80% (e) | 228,287 | 228,287 | |||||||||
TOTAL INVESTMENT COMPANIES | $ | 1,968,682 | |||||||||
Total Investments | $ | 60,146,980 | |||||||||
Other Assets and Liabilities — (3.01)% | (1,755,716 | ) | |||||||||
Total Net Assets — 100.00% | $ | 58,391,264 | |||||||||
(a) | Non-income producing security. | ||||||||||
(b) | Security or a portion of the security was on loan. At the end of the period, the value of these securities totaled $1,621,565 or | ||||||||||
2.78% of net assets. | |||||||||||
(c) | Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate | ||||||||||
as defined by the Investment Company Act of 1940 (controls 5.00% or more of the outstanding voting shares of the security). | |||||||||||
Please see Affiliated Securities sub-schedule for transactional information. | |||||||||||
(d) | Security or a portion of the security was received as collateral for securities lending. At the end of the period, the value of | ||||||||||
these securities totaled $1,740,395 or 2.98% of net assets. | |||||||||||
(e) | Current yield shown is as of period end. | ||||||||||
Portfolio Summary (unaudited) | |||||||||||
Sector | Percent | ||||||||||
Consumer, Non-cyclical | 95.55 | % | |||||||||
Technology | 3.64 | % | |||||||||
Money Market Funds | 3.37 | % | |||||||||
Consumer, Cyclical | 0.25 | % | |||||||||
Industrial | 0.12 | % | |||||||||
Basic Materials | 0.08 | % | |||||||||
Other Assets and Liabilities | (3.01 | )% | |||||||||
TOTAL NET ASSETS | 100.00 | % | |||||||||
June 30, 2022 | Purchases | Sales | September 30, 2022 | ||||||||
Affiliated Securities | Value | Cost | Proceeds | Value | |||||||
Principal Government Money | |||||||||||
Market Fund — Institutional Class | |||||||||||
2.80% | $ | 1,097,187 | $ | 7,155,292 | $ | 6,512,084 | $ | 1,740,395 | |||
$ | 1,097,187 | $ | 7,155,292 | $ | 6,512,084 | $ | 1,740,395 |
See accompanying notes. 13
Schedule of Investments | |||||||||
Principal Healthcare Innovators ETF | |||||||||
September 30, 2022 (unaudited) | |||||||||
Realized Gain | |||||||||
Realized | from | Change in | |||||||
Gain/(Loss) on | Capital Gain | Unrealized | |||||||
Income (a) | Investments | Distributions | Gain/(Loss) | ||||||
Principal Government Money | |||||||||
Market Fund — Institutional Class | |||||||||
2.80 | % | $ | — | $ | — | $ | — | $ | — |
$ | — | $ | — | $ | — | $ | — | ||
(a) Amount excludes earnings from securities lending collateral. |
See accompanying notes.
14
Schedule of Investments | |||
Principal International Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS — 98.46% | Shares Held | Value | |
Advertising — 0.29% | |||
Dentsu Group, Inc. | 400 | $ | 11,359 |
Hakuhodo DY Holdings, Inc. | 1,100 | 7,737 | |
Publicis Groupe SA | 125 | 5,991 | |
WPP PLC | 677 | 5,669 | |
�� | $ | 30,756 | |
Aerospace & Defense — 0.95% | |||
Airbus SE | 177 | 15,420 | |
BAE Systems PLC | 3,826 | 33,739 | |
Dassault Aviation SA | 68 | 7,797 | |
Elbit Systems Ltd. | 26 | 4,936 | |
MTU Aero Engines AG | 35 | 5,291 | |
Rheinmetall AG | 68 | 10,543 | |
Safran SA | 111 | 10,227 | |
Thales SA | 129 | 14,286 | |
$ | 102,239 | ||
Agriculture — 1.29% | |||
British American Tobacco PLC | 1,966 | 70,826 | |
Imperial Brands PLC | 1,255 | 25,994 | |
Japan Tobacco, Inc. | 1,500 | 24,605 | |
Swedish Match AB | 1,723 | 17,078 | |
$ | 138,503 | ||
Airlines — 0.21% | |||
Air Canada (a) | 300 | 3,605 | |
Deutsche Lufthansa AG (a) | 728 | 4,222 | |
Qantas Airways Ltd. (a) | 1,226 | 3,937 | |
Singapore Airlines Ltd. (a) | 2,900 | 10,298 | |
$ | 22,062 | ||
Apparel — 1.60% | |||
Burberry Group PLC | 287 | 5,794 | |
Gildan Activewear, Inc. | 333 | 9,414 | |
Hermes International | 11 | 13,120 | |
Kering SA | 24 | 10,785 | |
LVMH Moet Hennessy Louis Vuitton SE | 215 | 128,618 | |
Puma SE | 88 | 4,137 | |
$ | 171,868 | ||
Auto Manufacturers — 1.79% | |||
Bayerische Motoren Werke AG | 127 | 8,712 | |
Ferrari NV | 107 | 20,103 | |
Honda Motor Co. Ltd. | 1,300 | 28,177 | |
Isuzu Motors Ltd. | 1,000 | 11,034 | |
Renault SA (a) | 165 | 4,523 | |
Stellantis NV | 785 | 9,441 | |
Toyota Motor Corp. | 8,200 | 106,289 | |
Volvo AB, Class A | 278 | 4,128 | |
$ | 192,407 | ||
Auto Parts & Equipment — 0.13% | |||
NGK Insulators Ltd. | 800 | 9,950 | |
Valeo SA | 253 | 3,875 | |
$ | 13,825 |
See accompanying notes.
15
Schedule of Investments | |||
Principal International Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Banks — 9.05% | |||
ABN AMRO Bank NV (b) | 460 | $ | 4,160 |
Australia & New Zealand Banking Group Ltd. | 2,161 | 31,516 | |
Bank Hapoalim BM | 1,371 | 11,629 | |
Bank Leumi Le-Israel BM | 2,419 | 20,770 | |
Bank of Montreal | 644 | 56,444 | |
Bank of Nova Scotia | 803 | 38,192 | |
BOC Hong Kong Holdings Ltd. | 5,000 | 16,657 | |
CaixaBank SA | 2,111 | 6,850 | |
Canadian Imperial Bank of Commerce | 384 | 16,807 | |
Chiba Bank Ltd. | 1,800 | 9,688 | |
Commerzbank AG (a) | 729 | 5,246 | |
Commonwealth Bank of Australia | 732 | 42,468 | |
Concordia Financial Group Ltd. | 3,200 | 9,883 | |
Danske Bank A/S | 435 | 5,438 | |
DBS Group Holdings Ltd. | 1,300 | 30,222 | |
DNB Bank ASA | 949 | 15,065 | |
FinecoBank Banca Fineco SpA | 423 | 5,279 | |
Hang Seng Bank Ltd. | 996 | 15,125 | |
HSBC Holdings PLC | 15,595 | 81,369 | |
Israel Discount Bank Ltd., Class A | 3,100 | 15,699 | |
Lloyds Banking Group PLC | 23,102 | 10,676 | |
Macquarie Group Ltd. | 268 | 26,184 | |
Mediobanca Banca di Credito Finanziario SpA | 737 | 5,822 | |
Mitsubishi UFJ Financial Group, Inc. | 9,200 | 41,414 | |
Mizrahi Tefahot Bank Ltd. | 436 | 15,343 | |
Mizuho Financial Group, Inc. | 2,600 | 28,069 | |
National Australia Bank Ltd. | 2,162 | 39,842 | |
National Bank of Canada | 300 | 18,803 | |
NatWest Group PLC | 2,469 | 6,228 | |
Oversea-Chinese Banking Corp. Ltd. | 2,800 | 23,063 | |
Royal Bank of Canada | 957 | 86,164 | |
Shizuoka Bank Ltd. (a) | 1,700 | 10,442 | |
Societe Generale SA | 344 | 6,883 | |
Standard Chartered PLC | 2,264 | 14,328 | |
Sumitomo Mitsui Financial Group, Inc. | 1,000 | 27,803 | |
Svenska Handelsbanken AB, Class A | 1,689 | 13,944 | |
Swedbank AB, Class A | 609 | 8,059 | |
Toronto-Dominion Bank | 1,230 | 75,437 | |
UBS Group AG | 1,046 | 15,345 | |
UniCredit SpA | 837 | 8,579 | |
United Overseas Bank Ltd. | 1,100 | 20,036 | |
Westpac Banking Corp. | 2,523 | 33,310 | |
$ | 974,281 | ||
Beverages — 2.57% | |||
Anheuser-Busch InBev SA | 640 | 29,320 | |
Budweiser Brewing Co. APAC Ltd. (b) | 1,600 | 4,189 | |
Carlsberg AS, Class B | 68 | 8,011 | |
Coca-Cola Europacific Partners PLC | 420 | 17,901 | |
Coca-Cola HBC AG | 497 | 10,510 | |
Davide Campari-Milano NV | 524 | 4,680 | |
Diageo PLC | 2,065 | 87,558 | |
Endeavour Group Ltd. | 2,496 | 11,176 | |
Heineken Holding NV | 174 | 12,022 | |
Heineken NV | 330 | 29,062 | |
JDE Peet's NV | 479 | 14,055 | |
Pernod Ricard SA | 158 | 29,243 | |
Remy Cointreau SA | 52 | 8,710 |
See accompanying notes.
16
Schedule of Investments | |||
Principal International Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Beverages (continued) | |||
Treasury Wine Estates Ltd. | 1,297 | $ | 10,428 |
$ | 276,865 | ||
Biotechnology — 0.75% | |||
Argenx SE (a) | 21 | 7,584 | |
Bachem Holding AG, Class B | 74 | 4,710 | |
CSL Ltd. | 305 | 55,606 | |
Genmab A/S (a) | 24 | 7,785 | |
Swedish Orphan Biovitrum AB (a) | 269 | 5,226 | |
$ | 80,911 | ||
Chemicals — 2.50% | |||
Air Liquide SA | 200 | 23,043 | |
Arkema SA | 62 | 4,562 | |
BASF SE | 302 | 11,721 | |
Brenntag SE | 94 | 5,747 | |
Clariant AG | 274 | 4,415 | |
Croda International PLC | 79 | 5,686 | |
EMS-Chemie Holding AG | 9 | 5,733 | |
Givaudan SA | 8 | 24,348 | |
ICL Group Ltd. | 1,211 | 9,780 | |
Mitsubishi Chemical Group Corp. | 2,500 | 11,428 | |
Mitsui Chemicals, Inc. | 500 | 9,739 | |
Nippon Sanso Holdings Corp. | 600 | 9,456 | |
Nissan Chemical Corp. | 200 | 8,913 | |
Nitto Denko Corp. | 200 | 10,820 | |
Nutrien Ltd. | 355 | 29,606 | |
OCI NV | 237 | 8,724 | |
Shin-Etsu Chemical Co. Ltd. | 300 | 29,703 | |
Solvay SA | 63 | 4,917 | |
Sumitomo Chemical Co. Ltd. | 3,300 | 11,332 | |
Symrise AG | 152 | 14,964 | |
Tosoh Corp. | 900 | 10,012 | |
Umicore SA | 170 | 5,020 | |
Yara International ASA | 258 | 9,082 | |
$ | 268,751 | ||
Commercial Services — 3.21% | |||
Adyen NV (a),(b) | 8 | 10,207 | |
Amadeus IT Group SA (a) | 400 | 18,782 | |
Ashtead Group PLC | 177 | 8,075 | |
Atlantia SpA | 631 | 13,982 | |
Brambles Ltd. | 1,738 | 12,685 | |
Bureau Veritas SA | 490 | 11,036 | |
Dai Nippon Printing Co. Ltd. | 600 | 12,022 | |
Edenred | 443 | 20,562 | |
Experian PLC | 779 | 23,145 | |
GMO Payment Gateway, Inc. | 100 | 6,875 | |
IDP Education Ltd. | 232 | 3,928 | |
Intertek Group PLC | 268 | 11,093 | |
Nuvei Corp. (a),(b) | 150 | 4,054 | |
Persol Holdings Co. Ltd. | 600 | 11,090 | |
Recruit Holdings Co. Ltd. | 1,100 | 31,625 | |
RELX PLC | 1,992 | 48,976 | |
Rentokil Initial PLC | 2,345 | 12,502 | |
Ritchie Bros Auctioneers, Inc. | 174 | 10,872 | |
Secom Co. Ltd. | 300 | 17,155 | |
Securitas AB, Class B | 666 | 4,657 |
See accompanying notes.
17
Schedule of Investments | |||
Principal International Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Commercial Services (continued) | |||
Securitas AB — Rights | 3,464 | $ | 1,445 |
SGS SA | 7 | 15,075 | |
TOPPAN, Inc. | 700 | 10,418 | |
Transurban Group | 2,603 | 20,546 | |
Worldline SA (a),(b) | 133 | 5,302 | |
$ | 346,109 | ||
Computers — 1.45% | |||
Bechtle AG | 105 | 3,821 | |
Capgemini SE | 61 | 9,894 | |
CGI, Inc. (a) | 322 | 24,241 | |
Check Point Software Technologies Ltd. (a) | 180 | 20,164 | |
Computershare Ltd. | 760 | 12,037 | |
Itochu Techno-Solutions Corp. | 400 | 9,369 | |
NEC Corp. | 400 | 12,782 | |
Nomura Research Institute Ltd. | 600 | 14,717 | |
NTT Data Corp. | 1,100 | 14,182 | |
Otsuka Corp. | 300 | 9,379 | |
SCSK Corp. | 700 | 10,592 | |
Teleperformance | 59 | 15,086 | |
$ | 156,264 | ||
Construction Materials — 1.13% | |||
AGC, Inc. | 400 | 12,409 | |
Cie de Saint-Gobain | 207 | 7,516 | |
Daikin Industries Ltd. | 200 | 30,809 | |
Geberit AG | 37 | 16,031 | |
Holcim AG | 471 | 19,562 | |
Investment AB Latour, Class B | 236 | 3,947 | |
James Hardie Industries PLC | 274 | 5,405 | |
Kingspan Group PLC | 103 | 4,678 | |
Nibe Industrier AB, Class B | 717 | 6,467 | |
Sika AG | 51 | 10,374 | |
Xinyi Glass Holdings Ltd. | 3,000 | 4,365 | |
$ | 121,563 | ||
Distribution/Wholesale — 1.78% | |||
Bunzl PLC | 651 | 20,062 | |
Ferguson PLC | 191 | 20,055 | |
IMCD NV | 43 | 5,167 | |
ITOCHU Corp. | 1,200 | 29,028 | |
Marubeni Corp. | 2,000 | 17,522 | |
Mitsubishi Corp. | 1,000 | 27,416 | |
Mitsui & Co. Ltd. | 1,400 | 29,880 | |
Sumitomo Corp. | 1,500 | 18,681 | |
Toromont Industries Ltd. | 156 | 10,860 | |
Toyota Tsusho Corp. | 400 | 12,382 | |
$ | 191,053 | ||
Diversified Financial Services — 2.27% | |||
AerCap Holdings NV (a) | 111 | 4,699 | |
Amundi SA (b) | 91 | 3,831 | |
ASX Ltd. | 284 | 13,036 | |
Deutsche Boerse AG | 214 | 35,287 | |
Euronext NV (b) | 163 | 10,400 | |
Futu Holdings Ltd., ADR (a) | 105 | 3,915 | |
Hong Kong Exchanges & Clearing Ltd. | 900 | 30,911 | |
IGM Financial, Inc. | 376 | 9,369 | |
Japan Exchange Group, Inc. | 900 | 12,142 |
See accompanying notes.
18
Schedule of Investments | |||
Principal International Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Diversified Financial Services (continued) | |||
Julius Baer Group Ltd. | 130 | $ | 5,731 |
London Stock Exchange Group PLC | 390 | 33,216 | |
Mitsubishi HC Capital, Inc. | 2,200 | 9,455 | |
ORIX Corp. | 1,300 | 18,221 | |
Partners Group Holding AG | 9 | 7,339 | |
SBI Holdings, Inc. | 600 | 10,762 | |
Schroders PLC | 894 | 3,886 | |
Singapore Exchange Ltd. | 2,400 | 15,808 | |
TMX Group Ltd. | 171 | 15,729 | |
$ | 243,737 | ||
Electric — 3.80% | |||
Algonquin Power & Utilities Corp. | 1,056 | 11,536 | |
Brookfield Renewable Corp., Class A | 402 | 13,137 | |
Canadian Utilities Ltd., Class A | 340 | 8,844 | |
CLP Holdings Ltd. | 1,881 | 14,222 | |
E.ON SE | 1,232 | 9,534 | |
EDP - Energias de Portugal SA | 3,057 | 13,302 | |
EDP Renovaveis SA | 211 | 4,351 | |
Electricite de France SA | 452 | 5,267 | |
Elia Group SA | 79 | 9,322 | |
Emera, Inc. | 336 | 13,595 | |
Endesa SA | 907 | 13,707 | |
Enel SpA | 3,306 | 13,686 | |
Engie SA | 2,315 | 26,867 | |
Fortis, Inc. | 471 | 17,894 | |
HK Electric Investments & HK Electric Investments Ltd. | 12,000 | 8,408 | |
Hydro One Ltd. (b) | 726 | 17,754 | |
Iberdrola SA | 5,712 | 53,640 | |
Mercury NZ Ltd. | 2,553 | 8,144 | |
Meridian Energy Ltd. | 3,288 | 8,833 | |
National Grid PLC | 3,805 | 39,553 | |
Northland Power, Inc. | 572 | 16,750 | |
Origin Energy Ltd. | 1,403 | 4,640 | |
Power Assets Holdings Ltd. | 2,500 | 12,548 | |
Red Electrica Corp. SA | 699 | 10,762 | |
RWE AG | 243 | 9,000 | |
SSE PLC | 1,002 | 17,089 | |
Terna - Rete Elettrica Nazionale | 2,758 | 16,894 | |
Verbund AG | 111 | 9,513 | |
$ | 408,792 | ||
Electrical Components & Equipment — 0.54% | |||
ABB Ltd. | 1,193 | 31,194 | |
Legrand SA | 258 | 16,855 | |
Prysmian SpA | 345 | 10,015 | |
$ | 58,064 | ||
Electronics — 1.46% | |||
Assa Abloy AB, Class B | 396 | 7,483 | |
Halma PLC | 251 | 5,731 | |
Hirose Electric Co. Ltd. | 100 | 13,114 | |
Hoya Corp. | 300 | 28,771 | |
Ibiden Co. Ltd. | 400 | 10,944 | |
MINEBEA MITSUMI, Inc. | 700 | 10,345 | |
Murata Manufacturing Co. Ltd. | 600 | 27,494 | |
Nidec Corp. | 300 | 16,852 |
See accompanying notes.
19
Schedule of Investments | |||
Principal International Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Electronics (continued) | |||
Shimadzu Corp. | 467 | $ | 12,245 |
TDK Corp. | 500 | 15,391 | |
Venture Corp. Ltd. | 791 | 9,049 | |
$ | 157,419 | ||
Energy — Alternate Sources — 0.05% | |||
Siemens Gamesa Renewable Energy SA (a) | 314 | 5,516 | |
Engineering & Construction — 1.93% | |||
Acciona SA | 52 | 9,204 | |
ACS Actividades de Construccion y Servicios SA | 486 | 11,017 | |
Aena SME SA (a),(b) | 110 | 11,524 | |
Aeroports de Paris (a) | 39 | 4,548 | |
Auckland International Airport Ltd. (a) | 2,430 | 9,792 | |
Bouygues SA | 243 | 6,394 | |
CK Infrastructure Holdings Ltd. | 2,000 | 10,204 | |
Eiffage SA | 199 | 16,094 | |
Ferrovial SA | 839 | 19,233 | |
Infrastrutture Wireless Italiane SpA (b) | 1,006 | 8,844 | |
Keppel Corp. Ltd. | 2,300 | 11,130 | |
Lendlease Corp. Ltd. | 1,600 | 9,129 | |
Singapore Technologies Engineering Ltd. | 4,100 | 10,220 | |
Taisei Corp. | 400 | 11,110 | |
Vinci SA | 541 | 44,097 | |
WSP Global, Inc. | 141 | 15,528 | |
$ | 208,068 | ||
Entertainment ��� 0.47% | |||
Aristocrat Leisure Ltd. | 668 | 14,066 | |
Entain PLC | 401 | 4,862 | |
Evolution AB (b) | 88 | 7,032 | |
Genting Singapore Ltd. | 17,200 | 9,401 | |
La Francaise des Jeux SAEM (b) | 321 | 9,586 | |
Lottery Corp. Ltd. (a) | 2,286 | 6,112 | |
$ | 51,059 | ||
Food — 5.58% | |||
Barry Callebaut AG | 6 | 11,365 | |
Carrefour SA | 862 | 12,009 | |
Chocoladefabriken Lindt & Spruengli AG | 1 | 9,689 | |
Coles Group Ltd. | 1,485 | 15,607 | |
Danone SA | 505 | 24,039 | |
Empire Co. Ltd., Class A | 541 | 13,457 | |
George Weston Ltd. | 164 | 17,171 | |
J Sainsbury PLC | 4,537 | 8,830 | |
Jeronimo Martins SGPS SA | 770 | 14,376 | |
Kerry Group PLC, Class A | 169 | 15,105 | |
Kesko Oyj, Class B | 243 | 4,559 | |
Koninklijke Ahold Delhaize NV | 866 | 22,181 | |
Loblaw Cos. Ltd. | 271 | 21,459 | |
MEIJI Holdings Co. Ltd. | 300 | 13,328 | |
Metro, Inc. | 412 | 20,631 | |
Mowi ASA | 658 | 8,370 | |
Nestle SA | 2,179 | 236,472 | |
Nisshin Seifun Group, Inc. | 900 | 9,129 | |
Orkla ASA | 2,033 | 14,787 | |
Salmar ASA | 145 | 4,890 | |
Saputo, Inc. | 479 | 11,419 |
See accompanying notes.
20
Schedule of Investments | |||
Principal International Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Food (continued) | |||
Seven & i Holdings Co. Ltd. | 600 | $ | 24,070 |
Tesco PLC | 7,220 | 16,671 | |
WH Group Ltd. (b) | 23,500 | 14,819 | |
Wilmar International Ltd. | 5,600 | 14,972 | |
Woolworths Group Ltd. | 992 | 21,542 | |
$ | 600,947 | ||
Food Service — 0.36% | |||
Compass Group PLC | 1,366 | 27,530 | |
Sodexo SA | 150 | 11,343 | |
$ | 38,873 | ||
Forest Products & Paper — 0.47% | |||
Holmen AB, Class B | 104 | 3,978 | |
Mondi PLC | 337 | 5,245 | |
Oji Holdings Corp. | 2,700 | 10,037 | |
Smurfit Kappa Group PLC | 173 | 4,973 | |
UPM-Kymmene Oyj | 540 | 17,242 | |
West Fraser Timber Co. Ltd. | 127 | 9,188 | |
$ | 50,663 | ||
Gas — 0.77% | |||
AltaGas Ltd. | 542 | 10,378 | |
Enagas SA | 609 | 9,454 | |
Hong Kong & China Gas Co. Ltd. | 8,250 | 7,273 | |
Naturgy Energy Group SA | 583 | 13,559 | |
Osaka Gas Co. Ltd. | 800 | 12,083 | |
Snam SpA | 4,060 | 16,497 | |
Tokyo Gas Co. Ltd. | 800 | 13,548 | |
$ | 82,792 | ||
Hand/Machine Tools — 0.46% | |||
Disco Corp. | 100 | 22,110 | |
Fuji Electric Co. Ltd. | 300 | 10,965 | |
Schindler Holding AG | 38 | 5,956 | |
Schindler Holding AG | 34 | 5,169 | |
Techtronic Industries Co. Ltd. | 500 | 4,831 | |
$ | 49,031 | ||
Healthcare — Products — 1.29% | |||
Alcon, Inc. | 224 | 13,199 | |
Carl Zeiss Meditec AG | 41 | 4,318 | |
Cochlear Ltd. | 140 | 17,421 | |
Coloplast A/S, Class B | 60 | 6,136 | |
Demant A/S (a) | 150 | 3,736 | |
DiaSorin SpA | 35 | 3,938 | |
EssilorLuxottica SA | 121 | 16,643 | |
Fisher & Paykel Healthcare Corp. Ltd. | 448 | 4,638 | |
Lifco AB, Class B | 294 | 4,138 | |
Olympus Corp. | 1,000 | 19,198 | |
QIAGEN NV (a) | 308 | 12,974 | |
Sartorius Stedim Biotech | 18 | 5,594 | |
Siemens Healthineers AG (b) | 149 | 6,466 | |
Smith & Nephew PLC | 628 | 7,366 | |
Sonova Holding AG | 29 | 6,466 | |
Straumann Holding AG | 65 | 6,050 | |
$ | 138,281 |
See accompanying notes.
21
Schedule of Investments | |||
Principal International Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Healthcare — Services — 0.52% | |||
BioMerieux | 51 | $ | 4,069 |
Eurofins Scientific SE | 88 | 5,271 | |
Fresenius SE & Co. KGaA | 314 | 6,755 | |
Lonza Group AG | 23 | 11,336 | |
Medibank Pvt Ltd. | 4,980 | 11,053 | |
Ramsay Health Care Ltd. | 133 | 4,873 | |
Sonic Healthcare Ltd. | 645 | 12,616 | |
$ | 55,973 | ||
Holding Companies — Diversified — 0.39% | |||
CK Hutchison Holdings Ltd. | 3,000 | 16,587 | |
Jardine Matheson Holdings Ltd. | 283 | 14,331 | |
Swire Pacific Ltd., Class A | 1,500 | 11,226 | |
$ | 42,144 | ||
Home Builders — 0.46% | |||
Daiwa House Industry Co. Ltd. | 800 | 16,270 | |
Iida Group Holdings Co. Ltd. | 600 | 8,138 | |
Open House Group Co. Ltd. | 300 | 10,146 | |
Sekisui House Ltd. | 900 | 14,931 | |
$ | 49,485 | ||
Home Furnishings — 0.67% | |||
SEB SA | 133 | 8,433 | |
Sony Group Corp. | 1,000 | 64,161 | |
$ | 72,594 | ||
Household Products — 1.36% | |||
Beiersdorf AG | 131 | 12,961 | |
Essity AB, Class B | 403 | 8,018 | |
L'Oreal SA | 156 | 50,491 | |
Unilever PLC | 1,684 | 74,628 | |
$ | 146,098 | ||
Household Products/Wares — 0.55% | |||
Henkel AG & Co. KGaA | 194 | 11,085 | |
Reckitt Benckiser Group PLC | 722 | 48,175 | |
$ | 59,260 | ||
Insurance — 5.36% | |||
Aegon NV | 1,239 | 4,981 | |
Ageas SA | 126 | 4,623 | |
AIA Group Ltd. | 9,400 | 78,377 | |
Allianz SE | 153 | 24,262 | |
Assicurazioni Generali SpA | 650 | 8,931 | |
Aviva PLC | 1,418 | 6,146 | |
AXA SA | 1,896 | 41,763 | |
Baloise Holding AG | 84 | 10,786 | |
Fairfax Financial Holdings Ltd. | 30 | 13,702 | |
Gjensidige Forsikring ASA | 300 | 5,152 | |
Great-West Lifeco, Inc. | 282 | 6,088 | |
iA Financial Corp., Inc. | 304 | 15,447 | |
Insurance Australia Group Ltd. | 4,062 | 11,952 | |
Intact Financial Corp. | 215 | 30,427 | |
M&G PLC | 2,268 | 4,218 | |
Manulife Financial Corp. | 2,204 | 34,591 | |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 107 | 25,954 |
See accompanying notes.
22
Schedule of Investments | |||
Principal International Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Insurance (continued) | |||
Phoenix Group Holdings PLC | 1,589 | $ | 9,346 |
Power Corp. of Canada | 621 | 13,995 | |
QBE Insurance Group Ltd. | 2,673 | 19,714 | |
Sampo Oyj, Class A | 646 | 27,705 | |
Sompo Holdings, Inc. | 400 | 15,925 | |
Sun Life Financial, Inc. | 532 | 21,155 | |
Suncorp Group Ltd. | 1,916 | 12,292 | |
Swiss Life Holding AG | 33 | 14,666 | |
Swiss Re AG | 262 | 19,426 | |
Tokio Marine Holdings, Inc. | 1,500 | 26,584 | |
Tryg A/S | 548 | 11,333 | |
Zurich Insurance Group AG | 144 | 57,647 | |
$ | 577,188 | ||
Internet — 0.73% | |||
Adevinta ASA (a) | 555 | 3,313 | |
Auto Trader Group PLC (b) | 1,485 | 8,539 | |
CyberAgent, Inc. | 1,200 | 10,099 | |
MonotaRO Co. Ltd. | 700 | 10,747 | |
Prosus NV | 256 | 13,541 | |
Trend Micro, Inc. | 300 | 16,210 | |
United Internet AG | 426 | 8,041 | |
ZOZO, Inc. | 400 | 7,998 | |
$ | 78,488 | ||
Investment Companies — 0.16% | |||
EXOR NV (a) | 77 | 4,941 | |
Groupe Bruxelles Lambert NV | 89 | 6,270 | |
Washington H Soul Pattinson & Co. Ltd. | 322 | 5,518 | |
$ | 16,729 | ||
Iron & Steel — 0.55% | |||
ArcelorMittal SA | 289 | 5,853 | |
BlueScope Steel Ltd. | 455 | 4,421 | |
Fortescue Metals Group Ltd. | 1,423 | 15,310 | |
JFE Holdings, Inc. | 1,000 | 9,266 | |
Mineral Resources Ltd. | 126 | 5,299 | |
Nippon Steel Corp. | 1,100 | 15,250 | |
voestalpine AG | 218 | 3,741 | |
$ | 59,140 | ||
Leisure Products & Services — 0.04% | |||
BRP, Inc. | 63 | 3,881 | |
Leisure Time — 0.25% | |||
Shimano, Inc. | 100 | 15,712 | |
Yamaha Motor Co. Ltd. | 600 | 11,222 | |
$ | 26,934 | ||
Lodging — 0.27% | |||
Accor SA (a) | 184 | 3,897 | |
City Developments Ltd. | 1,600 | 8,467 | |
Galaxy Entertainment Group Ltd. | 1,000 | 5,911 | |
InterContinental Hotels Group PLC | 108 | 5,268 | |
Sands China Ltd. (a) | 2,000 | 5,019 | |
$ | 28,562 |
See accompanying notes.
23
Schedule of Investments | |||
Principal International Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Machinery — Construction & Mining — 0.78% | |||
Epiroc AB, Class A | 399 | $ | 5,758 |
Epiroc AB, Class B | 367 | 4,663 | |
Hitachi Construction Machinery Co. Ltd. | 400 | 7,396 | |
Hitachi Ltd. | 700 | 29,571 | |
Komatsu Ltd. | 1,100 | 19,844 | |
Mitsubishi Heavy Industries Ltd. | 500 | 16,603 | |
$ | 83,835 | ||
Machinery — Diversified — 1.32% | |||
Atlas Copco AB, Class A | 943 | 8,905 | |
Atlas Copco AB, Class B | 737 | 6,193 | |
CNH Industrial NV | 552 | 6,292 | |
GEA Group AG | 150 | 4,901 | |
Husqvarna AB, Class B | 715 | 4,001 | |
Keyence Corp. | 200 | 66,192 | |
SMC Corp. | 100 | 40,227 | |
Spirax-Sarco Engineering PLC | 49 | 5,690 | |
$ | 142,401 | ||
Media — 0.88% | |||
Bollore SE | 1,246 | 5,766 | |
Informa PLC | 944 | 5,473 | |
Pearson PLC | 500 | 4,839 | |
Quebecor, Inc., Class B | 719 | 13,257 | |
Shaw Communications, Inc., Class B | 576 | 14,006 | |
Thomson Reuters Corp. | 90 | 9,239 | |
Vivendi SE | 1,365 | 10,665 | |
Wolters Kluwer NV | 319 | 31,239 | |
$ | 94,484 | ||
Metal Fabrication & Hardware — 0.14% | |||
Tenaris SA | 754 | 9,802 | |
VAT Group AG (b) | 23 | 4,751 | |
$ | 14,553 | ||
Mining — 2.92% | |||
Anglo American PLC | 821 | 25,076 | |
BHP Group Ltd. | 3,890 | 95,847 | |
Boliden AB | 366 | 11,429 | |
Cameco Corp. | 255 | 6,767 | |
First Quantum Minerals Ltd. | 721 | 12,240 | |
Franco-Nevada Corp. | 167 | 19,948 | |
Glencore PLC | 5,908 | 31,542 | |
Lundin Mining Corp. | 905 | 4,573 | |
Norsk Hydro ASA | 1,757 | 9,495 | |
Rio Tinto Ltd. | 291 | 17,383 | |
Rio Tinto PLC | 656 | 35,861 | |
South32 Ltd. | 4,902 | 11,382 | |
Sumitomo Metal Mining Co. Ltd. | 400 | 11,497 | |
Teck Resources Ltd., Class B | 470 | 14,294 | |
Wheaton Precious Metals Corp. | 222 | 7,189 | |
$ | 314,523 | ||
Miscellaneous Manufacturers — 0.23% | |||
Indutrade AB | 266 | 4,372 | |
Orica Ltd. | 1,093 | 9,243 |
See accompanying notes.
24
Schedule of Investments | |||
Principal International Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Miscellaneous Manufacturers (continued) | |||
Smiths Group PLC | 683 | $ | 11,515 |
$ | 25,130 | ||
Office & Business Equipment — 0.30% | |||
FUJIFILM Holdings Corp. | 500 | 22,832 | |
Seiko Epson Corp. | 700 | 9,528 | |
$ | 32,360 | ||
Oil & Gas — 5.56% | |||
Aker BP ASA | 372 | 10,680 | |
Ampol Ltd. | 768 | 14,124 | |
ARC Resources Ltd. | 800 | 9,608 | |
BP PLC | 14,785 | 71,497 | |
Canadian Natural Resources Ltd. | 676 | 31,467 | |
Cenovus Energy, Inc. | 1,037 | 15,930 | |
DCC PLC | 117 | 6,126 | |
ENEOS Holdings, Inc. | 4,600 | 14,782 | |
Eni SpA | 918 | 9,816 | |
Equinor ASA | 668 | 21,969 | |
Galp Energia SGPS SA | 471 | 4,535 | |
Idemitsu Kosan Co. Ltd. | 500 | 10,831 | |
Imperial Oil Ltd. | 273 | 11,820 | |
Inpex Corp. | 1,500 | 14,085 | |
Neste Oyj | 183 | 8,035 | |
OMV AG | 132 | 4,834 | |
Parkland Corp. | 379 | 8,121 | |
Repsol SA | 1,301 | 15,052 | |
Santos Ltd. | 2,871 | 13,020 | |
Shell PLC | 5,768 | 144,680 | |
Suncor Energy, Inc. | 941 | 26,499 | |
TotalEnergies SE | 1,926 | 91,123 | |
Tourmaline Oil Corp. | 281 | 14,604 | |
Woodside Energy Group Ltd. | 1,221 | 24,727 | |
$ | 597,965 | ||
Packaging & Containers — 0.22% | |||
CCL Industries, Inc., Class B | 369 | 17,887 | |
SIG Group AG | 274 | 5,604 | |
$ | 23,491 | ||
Pharmaceuticals — 8.45% | |||
Amplifon SpA | 176 | 4,640 | |
Astellas Pharma, Inc. | 200 | 2,649 | |
AstraZeneca PLC | 1,202 | 133,458 | |
Bayer AG | 598 | 27,788 | |
Chugai Pharmaceutical Co. Ltd. | 900 | 22,548 | |
Daiichi Sankyo Co. Ltd. | 1,400 | 39,099 | |
GSK PLC | 3,924 | 57,212 | |
Hikma Pharmaceuticals PLC | 292 | 4,445 | |
Ipsen SA | 94 | 8,743 | |
Merck KGaA | 53 | 8,664 | |
Novartis AG | 1,813 | 138,782 | |
Novo Nordisk A/S, Class B | 1,285 | 128,966 | |
Ono Pharmaceutical Co. Ltd. | 600 | 14,016 | |
Orion Oyj, Class B | 244 | 10,302 | |
Recordati Industria Chimica e Farmaceutica SpA | 260 | 9,604 | |
Roche Holding AG | 50 | 19,651 | |
Roche Holding AG | 545 | 178,656 |
See accompanying notes.
25
Schedule of Investments | |||
Principal International Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Pharmaceuticals (continued) | |||
Sanofi | 726 | $ | 55,783 |
Takeda Pharmaceutical Co. Ltd. | 1,200 | 31,233 | |
Teva Pharmaceutical Industries Ltd., ADR (a) | 694 | 5,601 | |
UCB SA | 107 | 7,458 | |
$ | 909,298 | ||
Pipelines — 1.17% | |||
APA Group | 2,557 | 15,685 | |
Enbridge, Inc. | 1,315 | 48,760 | |
Keyera Corp. | 456 | 9,388 | |
Pembina Pipeline Corp. | 781 | 23,724 | |
TC Energy Corp. | 715 | 28,800 | |
$ | 126,357 | ||
Private Equity — 0.53% | |||
3i Group PLC | 512 | 6,248 | |
Brookfield Asset Management, Inc., Class A | 531 | 21,723 | |
Capitaland Investment Ltd. | 4,500 | 10,872 | |
EQT AB | 231 | 4,561 | |
Eurazeo SE | 167 | 8,813 | |
Onex Corp. | 109 | 5,000 | |
$ | 57,217 | ||
Real Estate — 1.72% | |||
Azrieli Group Ltd. | 116 | 7,943 | |
CK Asset Holdings Ltd. | 2,500 | 15,033 | |
Daito Trust Construction Co. Ltd. | 100 | 9,376 | |
ESR Group Ltd. (b) | 4,200 | 10,594 | |
Fastighets AB Balder (a) | 872 | 3,517 | |
FirstService Corp. | 95 | 11,308 | |
Hang Lung Properties Ltd. | 3,000 | 4,923 | |
Henderson Land Development Co. Ltd. | 3,000 | 8,408 | |
Hongkong Land Holdings Ltd. | 2,317 | 10,241 | |
Hulic Co. Ltd. | 1,300 | 9,548 | |
New World Development Co. Ltd. | 3,000 | 8,523 | |
REA Group Ltd. | 57 | 4,188 | |
Sagax AB, Class B | 228 | 3,784 | |
Sino Land Co. Ltd. | 8,000 | 10,579 | |
Sun Hung Kai Properties Ltd. | 1,500 | 16,596 | |
Swire Properties Ltd. | 6,200 | 13,348 | |
Swiss Prime Site AG | 135 | 10,809 | |
UOL Group Ltd. | 2,800 | 12,964 | |
Wharf Real Estate Investment Co. Ltd. | 3,000 | 13,644 | |
$ | 185,326 | ||
REITs — 1.63% | |||
British Land Co. PLC | 998 | 3,908 | |
Canadian Apartment Properties REIT | 160 | 4,876 | |
CapitaLand Integrated Commercial Trust | 8,417 | 11,252 | |
CapLand Ascendas REIT | 8,600 | 16,107 | |
Covivio | 74 | 3,591 | |
Dexus | 1,174 | 5,797 | |
Gecina SA | 49 | 3,863 | |
Goodman Group | 700 | 7,066 | |
GPT Group | 1,864 | 4,567 | |
Klepierre SA | 455 | 7,982 | |
Land Securities Group PLC | 1,430 | 8,332 | |
Link REIT | 3,100 | 21,681 |
See accompanying notes.
26
Schedule of Investments | |||
Principal International Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
REITs (continued) | |||
Mapletree Logistics Trust | 8,500 | $ | 9,232 |
Mapletree Pan Asia Commercial Trust | 10,500 | 12,575 | |
Mirvac Group | 4,629 | 5,759 | |
RioCan Real Estate Investment Trust | 681 | 9,180 | |
Scentre Group | 7,260 | 11,795 | |
Segro PLC | 648 | 5,448 | |
Stockland | 4,904 | 10,258 | |
Vicinity Centres | 7,943 | 8,815 | |
Warehouses De Pauw CVA | 154 | 3,791 | |
$ | 175,875 | ||
Retail — 2.12% | |||
Alimentation Couche-Tard, Inc. | 648 | 26,087 | |
Canadian Tire Corp. Ltd., Class A | 111 | 11,816 | |
Chow Tai Fook Jewellery Group Ltd. | 5,200 | 9,791 | |
Cie Financiere Richemont SA, Class B | 316 | 30,194 | |
Dollarama, Inc. | 440 | 25,259 | |
Domino's Pizza Enterprises Ltd. | 103 | 3,394 | |
JD Sports Fashion PLC | 3,195 | 3,575 | |
Kingfisher PLC | 1,783 | 4,388 | |
McDonald's Holdings Co. Japan Ltd. | 300 | 10,447 | |
Moncler SpA | 128 | 5,318 | |
Next PLC | 87 | 4,664 | |
Nitori Holdings Co. Ltd. | 100 | 8,423 | |
Pan Pacific International Holdings Corp. | 800 | 14,151 | |
Reece Ltd. | 426 | 3,820 | |
Restaurant Brands International, Inc. | 437 | 23,246 | |
Swatch Group AG | 22 | 5,006 | |
Swatch Group AG | 103 | 4,359 | |
USS Co. Ltd. | 700 | 10,819 | |
Welcia Holdings Co. Ltd. | 500 | 10,554 | |
Wesfarmers Ltd. | 483 | 13,198 | |
$ | 228,509 | ||
Semiconductors — 2.20% | |||
Advantest Corp. | 300 | 13,888 | |
ASM International NV | 25 | 5,727 | |
ASML Holding NV | 315 | 133,859 | |
Infineon Technologies AG | 453 | 10,082 | |
Renesas Electronics Corp. (a) | 1,800 | 14,949 | |
STMicroelectronics NV | 263 | 8,311 | |
SUMCO Corp. | 800 | 9,331 | |
Tokyo Electron Ltd. | 100 | 24,667 | |
Tower Semiconductor Ltd. (a) | 360 | 15,728 | |
$ | 236,542 | ||
Shipbuilding — 0.08% | |||
Kongsberg Gruppen ASA | 275 | 8,385 | |
Software — 1.44% | |||
Constellation Software, Inc. | 17 | 23,655 | |
Dassault Systemes SE | 256 | 8,966 | |
Koei Tecmo Holdings Co. Ltd. | 600 | 9,846 | |
Konami Group Corp. | 200 | 9,231 | |
Nemetschek SE | 86 | 4,149 | |
Open Text Corp. | 220 | 5,815 | |
Oracle Corp. Japan | 200 | 10,640 | |
Sage Group PLC | 1,553 | 12,089 |
See accompanying notes.
27
Schedule of Investments | |||
Principal International Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Software (continued) | |||
SAP SE | 377 | $ | 31,080 |
Square Enix Holdings Co. Ltd. | 300 | 12,914 | |
Temenos AG | 62 | 4,238 | |
TIS, Inc. | 500 | 13,249 | |
WiseTech Global Ltd. | 271 | 9,014 | |
$ | 154,886 | ||
Telecommunications — 4.33% | |||
BCE, Inc. | 321 | 13,460 | |
Bezeq The Israeli Telecommunication Corp. Ltd. | 8,700 | 14,249 | |
BT Group PLC | 9,027 | 12,231 | |
Deutsche Telekom AG | 3,183 | 54,566 | |
Elisa Oyj | 233 | 10,584 | |
Hikari Tsushin, Inc. | 100 | 11,774 | |
HKT Trust & HKT Ltd. | 9,000 | 10,548 | |
KDDI Corp. | 1,200 | 35,180 | |
Koninklijke KPN NV | 4,563 | 12,396 | |
Nice Ltd. (a) | 33 | 6,289 | |
Nippon Telegraph & Telephone Corp. | 1,200 | 32,386 | |
Nokia Oyj | 2,085 | 9,033 | |
Orange SA | 1,917 | 17,375 | |
Proximus SADP | 458 | 4,756 | |
Rogers Communications, Inc., Class B | 417 | 16,063 | |
Singapore Telecommunications Ltd. | 8,700 | 16,113 | |
SoftBank Corp. | 3,000 | 29,983 | |
SoftBank Group Corp. | 900 | 30,470 | |
Spark New Zealand Ltd. | 3,628 | 10,152 | |
Swisscom AG | 31 | 14,562 | |
Tele2 AB, Class B | 658 | 5,692 | |
Telefonica Deutschland Holding AG | 4,146 | 8,423 | |
Telefonica SA | 5,019 | 16,606 | |
Telenor ASA | 673 | 6,160 | |
Telia Co. AB | 3,835 | 11,069 | |
Telstra Corp. Ltd. | 5,521 | 13,596 | |
TELUS Corp. | 927 | 18,408 | |
Vodafone Group PLC | 21,411 | 24,174 | |
$ | 466,298 | ||
Toys, Games & Hobbies — 0.56% | |||
Bandai Namco Holdings, Inc. | 300 | 19,553 | |
Nintendo Co. Ltd. | 1,000 | 40,448 | |
$ | 60,001 | ||
Transportation — 2.26% | |||
AP Moller - Maersk A/S, Class B | 3 | 5,483 | |
AP Moller - Maersk A/S, Class A | 3 | 5,331 | |
Aurizon Holdings Ltd. | 4,404 | 9,719 | |
Canadian National Railway Co. | 558 | 60,262 | |
Canadian Pacific Railway Ltd. | 881 | 58,810 | |
Deutsche Post AG | 340 | 10,368 | |
DSV A/S | 69 | 8,149 | |
Getlink SE | 705 | 10,989 | |
Kuehne + Nagel International AG | 30 | 6,142 | |
Mitsui OSK Lines Ltd. | 600 | 10,787 | |
MTR Corp. Ltd. | 2,500 | 11,481 | |
Nippon Yusen KK | 600 | 10,227 | |
SG Holdings Co. Ltd. | 700 | 9,576 | |
SITC International Holdings Co. Ltd. | 2,000 | 3,700 |
See accompanying notes.
28
Schedule of Investments | ||||
Principal International Adaptive Multi-Factor ETF | ||||
September 30, 2022 (unaudited) | ||||
COMMON STOCKS (continued) | Shares Held | Value | ||
Transportation (continued) | ||||
TFI International, Inc. | 59 | $ | 5,339 | |
Yamato Holdings Co. Ltd. | 700 | 10,529 | ||
ZIM Integrated Shipping Services Ltd. | 279 | 6,557 | ||
$ | 243,449 | |||
Water — 0.16% | ||||
Severn Trent PLC | 239 | 6,284 | ||
United Utilities Group PLC | 1,065 | 10,569 | ||
$ | 16,853 | |||
TOTAL COMMON STOCKS | $ | 10,594,913 | ||
PREFERRED STOCKS — 0.25% | Shares Held | Value | ||
Auto Manufacturers — 0.08% | ||||
Bayerische Motoren Werke AG | ||||
8.79% | 136 | $ | 8,917 | |
Electronics — 0.05% | ||||
Sartorius AG | ||||
0.36% | 15 | $ | 5,250 | |
Household Products/Wares — 0.12% | ||||
Henkel AG & Co. KGaA | ||||
3.04%, 08/07/2022 | 224 | $ | 13,396 | |
TOTAL PREFERRED STOCKS | $ | 27,563 | ||
INVESTMENT COMPANIES — 0.34% | Shares Held | Value | ||
Money Market Fund — 0.34% | ||||
State Street Institutional U.S. Government Money Market Fund — Institutional | ||||
Class 0.80% (c) | 36,406 | $ | 36,406 | |
TOTAL INVESTMENT COMPANIES | $ | 36,406 | ||
Total Investments | $ | 10,658,882 | ||
Other Assets and Liabilities — 0.95% | 102,059 | |||
Total Net Assets — 100.00% | $ | 10,760,941 | ||
(a) | Non-income producing security. | |||
(b) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in | |||
transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these | ||||
securities totaled $142,052 or 1.32% of net assets. | ||||
(c) | Current yield shown is as of period end. |
See accompanying notes. 29
Schedule of Investments
Principal International Adaptive Multi-Factor ETF
September 30, 2022 (unaudited)
Portfolio Summary (unaudited) | ||
Location | Percent | |
Japan | 20.03 | % |
Canada | 13.41 | % |
United Kingdom | 13.16 | % |
Switzerland | 9.67 | % |
France | 8.38 | % |
Australia | 7.63 | % |
Hong Kong | 4.12 | % |
Germany | 3.86 | % |
Netherlands | 3.28 | % |
Singapore | 2.34 | % |
Spain | 2.04 | % |
Denmark | 1.77 | % |
Sweden | 1.57 | % |
Italy | 1.55 | % |
Israel | 1.44 | % |
Norway | 1.09 | % |
Finland | 0.81 | % |
Belgium | 0.70 | % |
Ireland | 0.60 | % |
United States | 0.46 | % |
New Zealand | 0.39 | % |
Portugal | 0.30 | % |
Luxemburg | 0.19 | % |
Austria | 0.17 | % |
Mongolia | 0.05 | % |
Jordan | 0.04 | % |
Other Assets and Liabilities | 0.95 | % |
TOTAL NET ASSETS | 100.00 | % |
See accompanying notes.
30
Schedule of Investments | |||||
Principal Investment Grade Corporate Active ETF | |||||
September 30, 2022 (unaudited) | |||||
Principal | |||||
BONDS — 90.68% | Amount | Value | |||
Aerospace & Defense — 2.44% | |||||
Boeing Co. | |||||
3.25%, 02/01/2028 | $ | 1,268,000 | $ | 1,105,997 | |
3.50%, 03/01/2039 | 102,000 | 68,100 | |||
5.71%, 05/01/2040 | 514,000 | 448,960 | |||
5.81%, 05/01/2050 | 112,000 | 97,327 | |||
$ | 1,720,384 | ||||
Agriculture — 1.45% | |||||
Altria Group, Inc. | |||||
3.40%, 02/04/2041 | 315,000 | 198,625 | |||
BAT Capital Corp. | |||||
2.26%, 03/25/2028 | 510,000 | 405,653 | |||
3.56%, 08/15/2027 | 477,000 | 418,888 | |||
$ | 1,023,166 | ||||
Airlines — 3.76% | |||||
Delta Air Lines, Inc./SkyMiles IP Ltd. | |||||
4.75%, 10/20/2028 (a) | 482,262 | 449,157 | |||
Southwest Airlines Co. | |||||
5.13%, 06/15/2027 | 225,000 | 220,279 | |||
5.25%, 05/04/2025 | 1,108,000 | 1,106,862 | |||
United Airlines 2012-1 Class A Pass Through Trust | |||||
4.15%, 10/11/2025 | 121,432 | 114,905 | |||
United Airlines 2014-2 Class A Pass Through Trust | |||||
3.75%, 03/03/2028 | 101,526 | 92,056 | |||
United Airlines 2016-2 Class A Pass Through Trust | |||||
3.10%, 04/07/2030 | 869,580 | 670,774 | |||
$ | 2,654,033 | ||||
Auto Manufacturers — 0.27% | |||||
General Motors Co. | |||||
5.00%, 10/01/2028 | 208,000 | 191,333 | |||
Banks — 19.48% | |||||
Bank of America Corp. | |||||
(6-month Secured Overnight Financing Rate + 1.06%), | |||||
2.09%, 06/14/2029 (b) | 1,425,000 | 1,158,004 | |||
(5-year Treasury Constant Maturity Rate + 1.20%), | |||||
2.48%, 09/21/2036 (b) | 488,000 | 352,477 | |||
(6-month Secured Overnight Financing Rate + 1.93%), | |||||
2.68%, 06/19/2041 (b) | 165,000 | 106,566 | |||
(6-month Secured Overnight Financing Rate + 1.88%), | |||||
2.83%, 10/24/2051 (b) | 654,000 | 389,075 | |||
(5-year Treasury Constant Maturity Rate + 2.00%), | |||||
3.85%, 03/08/2037 (b) | 333,000 | 268,665 | |||
(6-month Secured Overnight Financing Rate + 1.83%), | |||||
4.57%, 04/27/2033 (b) | 464,000 | 415,598 | |||
Barclays PLC | |||||
(1-year Treasury Constant Maturity Rate + 1.30%), | |||||
3.33%, 11/24/2042 (b) | 240,000 | 151,755 | |||
4.84%, 05/09/2028 | 992,000 | 864,733 | |||
Citigroup, Inc. | |||||
(6-month Secured Overnight Financing Rate + 1.94%), | |||||
3.79%, 03/17/2033 (b) | 898,000 | 752,755 | |||
5.61%, 09/29/2026 | 705,000 | 701,110 | |||
Credit Suisse Group AG |
See accompanying notes.
31
Schedule of Investments | ||||
Principal Investment Grade Corporate Active ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Banks (continued) | ||||
Credit Suisse Group AG (continued) | ||||
(6-month Secured Overnight Financing Rate + 0.98%), | ||||
1.31%, 02/02/2027 (a),(b) | $ | 614,000 | $ | 498,470 |
(5-year Treasury Constant Maturity Rate + 4.89%), | ||||
5.25%, 02/11/2027 (a),(b),(c),(d) | 737,000 | 517,533 | ||
Deutsche Bank AG | ||||
(6-month U.S. International Swaps and Derivative Association + 2.55%), | ||||
4.88%, 12/01/2032 (b) | 275,000 | 215,696 | ||
First Republic Bank | ||||
4.63%, 02/13/2047 | 614,000 | 492,004 | ||
Goldman Sachs Group, Inc. | ||||
(6-month Secured Overnight Financing Rate + 1.41%), | ||||
3.10%, 02/24/2033 (b) | 2,238,000 | 1,777,542 | ||
JPMorgan Chase & Co. | ||||
(3-month Term Secured Overnight Financing Rate + 0.70%), | ||||
1.04%, 02/04/2027 (b) | 1,241,000 | 1,054,522 | ||
Morgan Stanley | ||||
(6-month Secured Overnight Financing Rate + 0.88%), | ||||
1.59%, 05/04/2027 (b) | 300,000 | 259,226 | ||
(6-month Secured Overnight Financing Rate + 1.36%), | ||||
2.48%, 09/16/2036 (b) | 439,000 | 314,600 | ||
(6-month Secured Overnight Financing Rate + 1.43%), | ||||
2.80%, 01/25/2052 (b) | 351,000 | 211,898 | ||
(3-month USD LIBOR + 1.34%), | ||||
3.59%, 07/22/2028 (b) | 640,000 | 575,738 | ||
5.00%, 11/24/2025 | 272,000 | 268,506 | ||
National Australia Bank Ltd. | ||||
2.33%, 08/21/2030 (a) | 417,000 | 310,493 | ||
Natwest Group PLC | ||||
(3-month USD LIBOR + 1.91%), | ||||
5.08%, 01/27/2030 (b) | 385,000 | 350,796 | ||
Standard Chartered PLC | ||||
(5-year Treasury Constant Maturity Rate + 5.66%), | ||||
6.00%, 07/26/2025 (a),(b),(c),(d) | 340,000 | 301,641 | ||
UBS Group AG | ||||
(1-year Treasury Constant Maturity Rate + 1.75%), | ||||
4.75%, 05/12/2028 (a),(b) | 310,000 | 291,002 | ||
Wells Fargo & Co. | ||||
(6-month Secured Overnight Financing Rate + 2.10%), | ||||
2.39%, 06/02/2028 (b) | 821,000 | 704,088 | ||
(6-month Secured Overnight Financing Rate + 2.10%), | ||||
4.90%, 07/25/2033 (b) | 241,000 | 222,186 | ||
Westpac Banking Corp. | ||||
(1-year Treasury Constant Maturity Rate + 2.68%), | ||||
5.41%, 08/10/2033 (b) | 254,000 | 227,782 | ||
$ | 13,754,461 | |||
Beverages — 1.57% | ||||
Anheuser-Busch InBev Worldwide, Inc. | ||||
4.38%, 04/15/2038 | 813,000 | 694,180 | ||
4.90%, 01/23/2031 | 276,000 | 271,379 | ||
5.45%, 01/23/2039 | 150,000 | 142,936 | ||
$ | 1,108,495 | |||
Biotechnology — 0.31% | ||||
CSL Finance PLC | ||||
4.75%, 04/27/2052 (a) | 250,000 | 215,107 |
See accompanying notes.
32
Schedule of Investments | ||||
Principal Investment Grade Corporate Active ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Chemicals — 0.20% | ||||
International Flavors & Fragrances, Inc. | ||||
1.83%, 10/15/2027 (a) | $ | 171,000 | $ | 140,069 |
Commercial Services — 1.78% | ||||
CoStar Group, Inc. | ||||
2.80%, 07/15/2030 (a) | 895,000 | 706,461 | ||
PayPal Holdings, Inc. | ||||
4.40%, 06/01/2032 | 591,000 | 550,833 | ||
$ | 1,257,294 | |||
Computers — 0.55% | ||||
Apple, Inc. | ||||
3.95%, 08/08/2052 | 171,000 | 142,796 | ||
Dell International LLC/EMC Corp. | ||||
4.90%, 10/01/2026 | 255,000 | 245,649 | ||
$ | 388,445 | |||
Construction Materials — 0.54% | ||||
Masco Corp. | ||||
1.50%, 02/15/2028 | 475,000 | 383,270 | ||
Diversified Financial Services — 5.29% | ||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||||
2.45%, 10/29/2026 | 601,000 | 507,008 | ||
3.00%, 10/29/2028 | 702,000 | 562,980 | ||
3.85%, 10/29/2041 | 375,790 | 249,621 | ||
Ally Financial, Inc. | ||||
5.75%, 11/20/2025 | 241,000 | 233,745 | ||
8.00%, 11/01/2031 | 678,000 | 710,786 | ||
Aviation Capital Group LLC | ||||
1.95%, 01/30/2026 (a) | 646,000 | 542,258 | ||
Avolon Holdings Funding Ltd. | ||||
2.75%, 02/21/2028 (a) | 164,000 | 128,782 | ||
4.25%, 04/15/2026 (a) | 365,000 | 327,284 | ||
5.50%, 01/15/2026 (a) | 139,000 | 130,729 | ||
Blackstone Holdings Finance Co. LLC | ||||
2.85%, 08/05/2051 (a) | 220,342 | 132,226 | ||
Brookfield Finance, Inc. | ||||
4.85%, 03/29/2029 | 225,000 | 210,361 | ||
$ | 3,735,780 | |||
Electric — 7.93% | ||||
Ameren Illinois Co. | ||||
3.85%, 09/01/2032 | 230,000 | 207,240 | ||
CenterPoint Energy Houston Electric LLC | ||||
3.35%, 04/01/2051 | 135,000 | 96,784 | ||
Commonwealth Edison Co. | ||||
4.00%, 03/01/2049 | 331,000 | 263,414 | ||
DTE Energy Co. | ||||
3.40%, 06/15/2029 | 280,000 | 245,139 | ||
Duke Energy Carolinas LLC | ||||
3.55%, 03/15/2052 | 126,000 | 91,753 | ||
Duke Energy Florida LLC | ||||
3.85%, 11/15/2042 | 169,000 | 131,867 | ||
Duke Energy Ohio, Inc. | ||||
4.30%, 02/01/2049 | 209,000 | 168,775 | ||
Entergy Corp. | ||||
1.90%, 06/15/2028 | 211,000 | 173,125 |
See accompanying notes.
33
Schedule of Investments | ||||
Principal Investment Grade Corporate Active ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Electric (continued) | ||||
Evergy, Inc. | ||||
2.90%, 09/15/2029 | $ | 210,000 | $ | 173,489 |
ITC Holdings Corp. | ||||
4.95%, 09/22/2027 (a) | 275,000 | 268,284 | ||
Monongahela Power Co. | ||||
3.55%, 05/15/2027 (a) | 116,000 | 106,830 | ||
NextEra Energy Capital Holdings, Inc. | ||||
1.88%, 01/15/2027 | 194,000 | 168,351 | ||
2.44%, 01/15/2032 | 97,000 | 75,460 | ||
4.45%, 06/20/2025 | 139,000 | 136,571 | ||
NRG Energy, Inc. | ||||
2.00%, 12/02/2025 (a) | 341,000 | 301,170 | ||
4.45%, 06/15/2029 (a) | 210,000 | 182,154 | ||
NSTAR Electric Co. | ||||
4.95%, 09/15/2052 | 146,000 | 136,367 | ||
Ohio Edison Co. | ||||
5.50%, 01/15/2033 | 97,000 | 95,609 | ||
Pacific Gas & Electric Co. | ||||
1.70%, 11/15/2023 | 368,000 | 352,872 | ||
2.95%, 03/01/2026 | 474,000 | 418,165 | ||
4.95%, 06/08/2025 | 308,000 | 298,982 | ||
4.50%, 07/01/2040 | 419,121 | 304,917 | ||
Southern California Edison Co. | ||||
3.45%, 02/01/2052 | 103,000 | 69,266 | ||
4.88%, 03/01/2049 | 211,000 | 176,348 | ||
Southern Co. | ||||
(3-month USD LIBOR + 3.63%), | ||||
6.92%, 03/15/2057 | 410,000 | 400,775 | ||
Tampa Electric Co. | ||||
3.63%, 06/15/2050 | 117,000 | 85,419 | ||
Virginia Electric & Power Co. | ||||
3.80%, 04/01/2028 | 146,000 | 136,989 | ||
WEC Energy Group, Inc. | ||||
1.38%, 10/15/2027 | 283,000 | 233,088 | ||
5.00%, 09/27/2025 | 103,000 | 102,628 | ||
$ | 5,601,831 | |||
Entertainment — 1.56% | ||||
Warnermedia Holdings, Inc. | ||||
4.28%, 03/15/2032 (a) | 448,000 | 368,562 | ||
5.05%, 03/15/2042 (a) | 578,000 | 432,485 | ||
5.39%, 03/15/2062 (a) | 412,000 | 298,663 | ||
$ | 1,099,710 | |||
Environmental Control — 0.51% | ||||
Waste Connections, Inc. | ||||
4.20%, 01/15/2033 | 399,000 | 361,479 | ||
Food — 2.86% | ||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc. | ||||
3.63%, 01/15/2032 (a) | 828,000 | 646,875 | ||
3.75%, 12/01/2031 (a) | 241,000 | 192,930 | ||
4.38%, 02/02/2052 (a) | 558,000 | 374,005 | ||
6.50%, 12/01/2052 (a) | 215,000 | 191,015 |
See accompanying notes.
34
Schedule of Investments | ||||
Principal Investment Grade Corporate Active ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Food (continued) | ||||
Kraft Heinz Foods Co. | ||||
4.88%, 10/01/2049 | $ | 345,000 | $ | 284,344 |
Mars, Inc. | ||||
2.38%, 07/16/2040 (a) | 125,000 | 82,373 | ||
Pilgrim's Pride Corp. | ||||
3.50%, 03/01/2032 (a) | 328,000 | 247,269 | ||
Sysco Corp. | ||||
3.15%, 12/14/2051 | 736 | 465 | ||
$ | 2,019,276 | |||
Gas — 1.43% | ||||
CenterPoint Energy Resources Corp. | ||||
1.75%, 10/01/2030 | 418,000 | 321,595 | ||
NiSource, Inc. | ||||
0.95%, 08/15/2025 | 351,000 | 311,543 | ||
Piedmont Natural Gas Co., Inc. | ||||
3.50%, 06/01/2029 | 245,000 | 215,664 | ||
Southern California Gas Co. | ||||
2.55%, 02/01/2030 | 191,000 | 160,615 | ||
$ | 1,009,417 | |||
Healthcare — Products — 1.27% | ||||
Boston Scientific Corp. | ||||
2.65%, 06/01/2030 | 787,000 | 653,003 | ||
Danaher Corp. | ||||
2.80%, 12/10/2051 | 374,000 | 240,610 | ||
$ | 893,613 | |||
Healthcare — Services — 3.37% | ||||
Centene Corp. | ||||
2.45%, 07/15/2028 | 765,000 | 622,878 | ||
3.38%, 02/15/2030 | 1,555,000 | 1,271,212 | ||
HCA, Inc. | ||||
5.63%, 09/01/2028 | 208,000 | 198,207 | ||
UnitedHealth Group, Inc. | ||||
2.75%, 05/15/2040 | 148,000 | 103,628 | ||
4.75%, 05/15/2052 | 202,000 | 180,671 | ||
$ | 2,376,596 | |||
Insurance — 5.39% | ||||
AIA Group Ltd. | ||||
3.20%, 09/16/2040 (a) | 258,000 | 192,586 | ||
Arthur J Gallagher & Co. | ||||
2.40%, 11/09/2031 | 340,000 | 260,129 | ||
Athene Global Funding | ||||
1.45%, 01/08/2026 (a),(e) | 300,000 | 260,837 | ||
2.50%, 03/24/2028 (a) | 480,000 | 399,560 | ||
2.55%, 11/19/2030 (a) | 180,000 | 137,326 | ||
Athene Holding Ltd. | ||||
3.45%, 05/15/2052 | 214,000 | 133,037 | ||
Corebridge Financial, Inc. | ||||
4.40%, 04/05/2052 (a) | 209,000 | 158,852 | ||
Enstar Group Ltd. | ||||
3.10%, 09/01/2031 | 470,000 | 333,773 | ||
Everest Reinsurance Holdings, Inc. | ||||
3.13%, 10/15/2052 | 181,000 | 111,866 |
See accompanying notes.
35
Schedule of Investments | ||||
Principal Investment Grade Corporate Active ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Insurance (continued) | ||||
Markel Corp. | ||||
4.30%, 11/01/2047 | $ | 303,000 | $ | 233,321 |
Marsh & McLennan Cos., Inc. | ||||
2.90%, 12/15/2051 | 171,000 | 105,972 | ||
MetLife, Inc. | ||||
5.00%, 07/15/2052 | 167,000 | 152,231 | ||
New York Life Insurance Co. | ||||
3.75%, 05/15/2050 (a) | 216,000 | 159,709 | ||
Swiss Re Finance Luxembourg SA | ||||
(5-year Treasury Constant Maturity Rate + 3.58%), | ||||
5.00%, 04/02/2049 (a),(b) | 1,000,000 | 875,000 | ||
XLIT Ltd. | ||||
5.50%, 03/31/2045 | 313,000 | 289,326 | ||
$ | 3,803,525 | |||
Internet — 0.64% | ||||
Amazon.com, Inc. | ||||
3.10%, 05/12/2051 | 368,000 | 257,627 | ||
Meta Platforms, Inc. | ||||
4.45%, 08/15/2052 (a) | 241,000 | 196,676 | ||
$ | 454,303 | |||
Lodging — 0.28% | ||||
Hyatt Hotels Corp. | ||||
1.80%, 10/01/2024 | 210,000 | 196,883 | ||
Media — 3.17% | ||||
Charter Communications Operating LLC/Charter Communications Operating | ||||
Capital | ||||
2.30%, 02/01/2032 | 285,000 | 203,515 | ||
Comcast Corp. | ||||
3.97%, 11/01/2047 | 516,000 | 394,537 | ||
Fox Corp. | ||||
4.71%, 01/25/2029 | 349,000 | 327,863 | ||
Paramount Global | ||||
2.90%, 01/15/2027 | 779,000 | 693,668 | ||
5.25%, 04/01/2044 | 160,000 | 119,548 | ||
Time Warner Cable LLC | ||||
5.50%, 09/01/2041 | 352,000 | 276,290 | ||
5.88%, 11/15/2040 | 271,000 | 223,091 | ||
$ | 2,238,512 | |||
Mining — 0.80% | ||||
Newmont Corp. | ||||
2.25%, 10/01/2030 | 347,000 | 268,422 | ||
Yamana Gold, Inc. | ||||
2.63%, 08/15/2031 | 405,000 | 299,532 | ||
$ | 567,954 | |||
Miscellaneous Manufacturers — 1.25% | ||||
GE Capital International Funding Unlimited Co. | ||||
4.42%, 11/15/2035 | 762,000 | 682,692 | ||
Parker-Hannifin Corp. | ||||
4.25%, 09/15/2027 | 209,000 | 199,062 | ||
$ | 881,754 |
See accompanying notes.
36
Schedule of Investments | ||||
Principal Investment Grade Corporate Active ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Oil & Gas — 1.68% | ||||
Canadian Natural Resources Ltd. | ||||
4.95%, 06/01/2047 | $ | 251,000 | $ | 213,504 |
Devon Energy Corp. | ||||
4.50%, 01/15/2030 | 316,000 | 287,626 | ||
Exxon Mobil Corp. | ||||
3.00%, 08/16/2039 | 192,000 | 142,505 | ||
Marathon Oil Corp. | ||||
4.40%, 07/15/2027 | 334,000 | 311,852 | ||
Shell International Finance BV | ||||
3.13%, 11/07/2049 | 339,000 | 232,015 | ||
$ | 1,187,502 | |||
Packaging & Containers — 0.23% | ||||
WRKCo, Inc. | ||||
3.00%, 06/15/2033 | 211,000 | 163,256 | ||
Pharmaceuticals — 5.51% | ||||
AbbVie, Inc. | ||||
4.05%, 11/21/2039 | 214,000 | 172,145 | ||
4.25%, 11/21/2049 | 410,000 | 329,135 | ||
Bayer U.S. Finance II LLC | ||||
4.63%, 06/25/2038 (a) | 440,000 | 364,100 | ||
Becton Dickinson and Co. | ||||
3.70%, 06/06/2027 | 1,376,000 | 1,280,497 | ||
4.67%, 06/06/2047 | 176,000 | 151,103 | ||
4.69%, 12/15/2044 | 275,000 | 234,864 | ||
Bristol-Myers Squibb Co. | ||||
4.13%, 06/15/2039 | 300,000 | 262,197 | ||
Cigna Corp. | ||||
4.38%, 10/15/2028 | 486,000 | 458,904 | ||
CVS Health Corp. | ||||
5.05%, 03/25/2048 | 347,000 | 305,590 | ||
Merck & Co., Inc. | ||||
2.75%, 12/10/2051 | 140,000 | 91,180 | ||
Zoetis, Inc. | ||||
3.90%, 08/20/2028 | 264,000 | 244,437 | ||
$ | 3,894,152 | |||
Pipelines — 2.53% | ||||
Eastern Gas Transmission & Storage, Inc. | ||||
3.00%, 11/15/2029 | 96,000 | 82,278 | ||
Enbridge, Inc. | ||||
2.50%, 08/01/2033 | 276,000 | 206,691 | ||
Energy Transfer LP | ||||
3.75%, 05/15/2030 | 589,000 | 498,743 | ||
4.95%, 06/15/2028 | 172,000 | 160,199 | ||
5.15%, 03/15/2045 | 344,000 | 270,714 | ||
Enterprise Products Operating LLC | ||||
4.20%, 01/31/2050 | 315,000 | 240,537 | ||
Kinder Morgan, Inc. | ||||
3.60%, 02/15/2051 | 175,000 | 113,458 | ||
Sabine Pass Liquefaction LLC | ||||
5.00%, 03/15/2027 | 224,000 | 214,901 | ||
$ | 1,787,521 |
See accompanying notes.
37
Schedule of Investments | ||||
Principal Investment Grade Corporate Active ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Private Equity — 0.37% | ||||
KKR Group Finance Co. VIII LLC | ||||
3.50%, 08/25/2050 (a) | $ | 249,000 | $ | 170,922 |
KKR Group Finance Co. X LLC | ||||
3.25%, 12/15/2051 (a) | 140,000 | 91,084 | ||
$ | 262,006 | |||
REITs — 2.10% | ||||
Invitation Homes Operating Partnership LP | ||||
2.00%, 08/15/2031 | 479,000 | 343,625 | ||
Kimco Realty Corp. | ||||
3.20%, 04/01/2032 | 254,000 | 206,336 | ||
Realty Income Corp. | ||||
3.10%, 12/15/2029 | 70 | 60 | ||
Spirit Realty LP | ||||
3.20%, 01/15/2027 | 795,000 | 697,360 | ||
3.20%, 02/15/2031 | 156,000 | 121,549 | ||
VICI Properties LP/VICI Note Co., Inc. | ||||
4.13%, 08/15/2030 (a) | 135,000 | 112,755 | ||
$ | 1,481,685 | |||
Semiconductors — 1.21% | ||||
Broadcom, Inc. | ||||
4.11%, 09/15/2028 | 133,000 | 119,814 | ||
KLA Corp. | ||||
3.30%, 03/01/2050 | 295,000 | 207,212 | ||
Micron Technology, Inc. | ||||
3.37%, 11/01/2041 | 185,000 | 118,944 | ||
NVIDIA Corp. | ||||
3.50%, 04/01/2040 | 368,000 | 285,855 | ||
3.50%, 04/01/2050 | 170,000 | 124,455 | ||
$ | 856,280 | |||
Software — 3.06% | ||||
Fiserv, Inc. | ||||
4.40%, 07/01/2049 | 276,000 | 214,064 | ||
Oracle Corp. | ||||
2.80%, 04/01/2027 | 272,000 | 240,053 | ||
4.00%, 07/15/2046 | 428,000 | 289,252 | ||
Take-Two Interactive Software, Inc. | ||||
4.00%, 04/14/2032 | 168,000 | 145,900 | ||
VMware, Inc. | ||||
1.80%, 08/15/2028 | 187,000 | 148,249 | ||
4.65%, 05/15/2027 | 1,177,000 | 1,124,232 | ||
$ | 2,161,750 | |||
Telecommunications — 4.12% | ||||
AT&T, Inc. | ||||
3.50%, 09/15/2053 | 1,450,000 | 966,194 | ||
T-Mobile USA, Inc. | ||||
3.38%, 04/15/2029 | 591,000 | 510,612 | ||
Verizon Communications, Inc. | ||||
2.36%, 03/15/2032 | 1,167,000 | 894,886 | ||
2.65%, 11/20/2040 | 827,000 | 539,003 | ||
$ | 2,910,695 |
See accompanying notes.
38
Schedule of Investments | |||||
Principal Investment Grade Corporate Active ETF | |||||
September 30, 2022 (unaudited) | |||||
Principal | |||||
BONDS (continued) | Amount | Value | |||
Transportation — 1.10% | |||||
Burlington Northern Santa Fe LLC | |||||
4.38%, 09/01/2042 | $ | 107,000 | $ | 91,923 | |
FedEx Corp. | |||||
4.10%, 02/01/2045 | 301,000 | 218,219 | |||
Union Pacific Corp. | |||||
2.95%, 03/10/2052 | 251,000 | 165,408 | |||
3.50%, 02/14/2053 | 420,000 | 304,164 | |||
$ | 779,714 | ||||
Trucking & Leasing — 0.46% | |||||
SMBC Aviation Capital Finance DAC | |||||
1.90%, 10/15/2026 (a) | 393,000 | 327,347 | |||
Water — 0.21% | |||||
Essential Utilities, Inc. | |||||
2.40%, 05/01/2031 | 190,000 | 148,347 | |||
TOTAL BONDS | $ | 64,036,945 | |||
INVESTMENT COMPANIES — 8.23% | Shares Held | Value | |||
Money Market Funds — 8.23% | |||||
Principal Government Money Market Fund — Institutional Class 2.80% (f),(g),(h) | 198,135 | 198,135 | |||
State Street Institutional U.S. Government Money Market Fund — Institutional | |||||
Class 0.80% (g) | 5,616,876 | 5,616,876 | |||
TOTAL INVESTMENT COMPANIES | $ | 5,815,011 | |||
Total Investments | $ | 69,851,956 | |||
Other Assets and Liabilities — 1.09% | 768,502 | ||||
Total Net Assets — 100.00% | $ | 70,620,458 | |||
(a) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in | ||||
transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these | |||||
securities totaled $11,830,581 or 16.75% of net assets. | |||||
(b) | Rate shown is as of period end. The rate may be a variable or floating rate or a fixed rate which may convert to a variable or | ||||
floating rate in the future. | |||||
(c) | Perpetual security. Perpetual securities pay an indefinite stream of interest, but they may be called by the issuer at an earlier | ||||
date. Date shown, if any, reflects the next call date or final legal maturity date. Rate shown is as of period end. | |||||
(d) | Security is a contingent convertible security, ("CoCo"). CoCo's are hybrid debt securities that may convert to equity or have | ||||
their principal written down upon occurrence of certain "triggers". At the end of the period, the value of these securities | |||||
totaled $819,174 or 1.16% of net assets. | |||||
(e) | Security or a portion of the security was on loan. At the end of the period, the value of these securities totaled $193,818 or | ||||
0.27% of net assets. | |||||
(f) | Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate | ||||
as defined by the Investment Company Act of 1940 (controls 5.00% or more of the outstanding voting shares of the security). | |||||
Please see Affiliated Securities sub-schedule for transactional information. | |||||
(g) | Current yield shown is as of period end. | ||||
(h) | Security or a portion of the security was received as collateral for securities lending. At the end of the period, the value of | ||||
these securities totaled $198,135 or 0.28% of net assets. |
See accompanying notes. 39
Schedule of Investments | ||||||||||||
Principal Investment Grade Corporate Active ETF | ||||||||||||
September 30, 2022 (unaudited) | ||||||||||||
Portfolio Summary (unaudited) | ||||||||||||
Sector | Percent | |||||||||||
Financial | 32.62 | % | ||||||||||
Consumer, Non-cyclical | 18.11 | % | ||||||||||
Utilities | 9.57 | % | ||||||||||
Money Market Funds | 8.23 | % | ||||||||||
Communications | 7.94 | % | ||||||||||
Industrial | 6.54 | % | ||||||||||
Consumer, Cyclical | 5.87 | % | ||||||||||
Technology | 4.82 | % | ||||||||||
Energy | 4.21 | % | ||||||||||
Basic Materials | 1.00 | % | ||||||||||
Other Assets and Liabilities | 1.09 | % | ||||||||||
TOTAL NET ASSETS | 100.00 | % | ||||||||||
June 30, 2022 | Purchases | Sales | September 30, 2022 | |||||||||
Affiliated Securities | Value | Cost | Proceeds | Value | ||||||||
Principal Government Money | ||||||||||||
Market Fund — Institutional Class | ||||||||||||
2.80 | % | $ | 1,398,980 | $ | 2,860,743 | $ | 4,061,588 | $ | 198,135 | |||
$ | 1,398,980 | $ | 2,860,743 | $ | 4,061,588 | $ | 198,135 | |||||
Realized Gain from | Change in | |||||||||||
Realized Gain/(Loss) on | Capital Gain | Unrealized | ||||||||||
Income (a) | Investments | Distributions | Gain/(Loss) | |||||||||
Principal Government Money | ||||||||||||
Market Fund — Institutional Class | ||||||||||||
2.80 | % | $ | — | $ | — | $ | — | $ | — | |||
$ | — | $ | — | $ | — | $ | — | |||||
(a) Amount excludes earnings from securities lending collateral. | ||||||||||||
Value and Unrealized | ||||||||||||
Notional | Appreciation/ | |||||||||||
Description and Expiration Date | Type | Futures Contracts | Amount | (Depreciation) | ||||||||
U.S. 10 Year Notes; December 2022 | Short | 12 | $ | 1,389,000 | $ | 44,389 | ||||||
U.S. Long Bond CBT; December 2022 | Long | 6 | 762,000 | (3,325 | ) | |||||||
U.S. Treasury Ultra Bond; December 2022 | Long | 14 | 2,050,000 | (132,577 | ) | |||||||
Total | $ | (91,513 | ) |
See accompanying notes. 40
Schedule of Investments | |||
Principal Millennial Global Growth ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS — 99.64% | Shares Held | Value | |
Apparel — 5.62% | |||
adidas AG | 535 | $ | 62,332 |
Carter's, Inc. | 592 | 38,794 | |
Columbia Sportswear Co. | 602 | 40,515 | |
Fila Holdings Corp. | 2,289 | 50,077 | |
Gildan Activewear, Inc. | 1,532 | 43,309 | |
Kering SA | 194 | 87,184 | |
Levi Strauss & Co., Class A | 2,749 | 39,778 | |
LVMH Moet Hennessy Louis Vuitton SE | 174 | 104,091 | |
NIKE, Inc., Class B | 856 | 71,151 | |
PVH Corp. | 708 | 31,718 | |
Ralph Lauren Corp. | 479 | 40,681 | |
SMCP SA (a),(b) | 7,741 | 39,109 | |
Torrid Holdings, Inc. (a) | 8,965 | 37,384 | |
Urban Outfitters, Inc. (a) | 20,348 | 399,838 | |
VF Corp. | 2,027 | 60,627 | |
$ | 1,146,588 | ||
Beverages — 2.11% | |||
Brown-Forman Corp., Class B | 1,696 | 112,903 | |
Constellation Brands, Inc., Class A | 496 | 113,921 | |
Fevertree Drinks PLC | 2,520 | 23,565 | |
Monster Beverage Corp. (a) | 1,425 | 123,918 | |
Treasury Wine Estates Ltd. | 6,838 | 54,980 | |
$ | 429,287 | ||
Commercial Services — 2.67% | |||
Aaron's Co., Inc. | 2,705 | 26,293 | |
Adyen NV (a),(b) | 245 | 312,578 | |
Global Payments, Inc. | 842 | 90,978 | |
GMO Payment Gateway, Inc. | 600 | 41,249 | |
Nuvei Corp. (a) | 788 | 21,316 | |
Paysafe Ltd. (a) | 17,539 | 24,204 | |
PROG Holdings, Inc. (a) | 1,887 | 28,267 | |
$ | 544,885 | ||
Computers — 0.44% | |||
Apple, Inc. | 649 | 89,692 | |
Construction Materials — 1.11% | |||
Fortune Brands Home & Security, Inc. | 1,525 | 81,877 | |
Masco Corp. | 2,227 | 103,979 | |
Mohawk Industries, Inc. (a) | 438 | 39,941 | |
$ | 225,797 | ||
Diversified Financial Services — 8.53% | |||
Coinbase Global, Inc., Class A (a) | 3,595 | 231,842 | |
Discover Financial Services | 6,179 | 561,795 | |
Futu Holdings Ltd., ADR (a) | 11,449 | 426,933 | |
LexinFintech Holdings Ltd., ADR (a) | 140,957 | 238,217 | |
Lufax Holding Ltd., ADR | 66,343 | 168,511 | |
Rocket Cos., Inc., Class A | 4,885 | 30,873 | |
XP, Inc., Class A (a) | 4,193 | 79,709 | |
$ | 1,737,880 | ||
Entertainment — 5.57% | |||
CTS Eventim AG & Co. KGaA (a) | 5,354 | 223,110 | |
DraftKings, Inc., Class A (a) | 2,792 | 42,271 | |
HYBE Co. Ltd. (a) | 2,196 | 207,213 |
See accompanying notes.
41
Schedule of Investments | |||
Principal Millennial Global Growth ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Entertainment (continued) | |||
Universal Music Group NV | 18,476 | $ | 349,944 |
Warner Music Group Corp., Class A | 13,509 | 313,544 | |
$ | 1,136,082 | ||
Food — 3.19% | |||
Albertsons Cos., Inc., Class A | 3,406 | 84,673 | |
Kroger Co. | 11,869 | 519,269 | |
Sprouts Farmers Market, Inc. (a) | 1,700 | 47,175 | |
$ | 651,117 | ||
Home Builders — 0.76% | |||
DR Horton, Inc. | 1,566 | 105,470 | |
Toll Brothers, Inc. | 1,156 | 48,552 | |
$ | 154,022 | ||
Home Furnishings — 2.11% | |||
Arhaus, Inc. (a),(c) | 6,383 | 45,000 | |
Sleep Number Corp. (a) | 1,072 | 36,245 | |
Sony Group Corp. | 4,700 | 301,556 | |
Tempur Sealy International, Inc. | 1,945 | 46,952 | |
$ | 429,753 | ||
Internet — 27.15% | |||
AfreecaTV Co. Ltd. | 4,592 | 204,132 | |
Alphabet, Inc., Class C (a) | 4,876 | 468,827 | |
D-MARKET Elektronik Hizmetler ve Ticaret A/S, ADR (a),(c) | 26,193 | 25,229 | |
eBay, Inc. | 1,977 | 72,773 | |
Expedia Group, Inc. (a) | 2,326 | 217,923 | |
Farfetch Ltd., Class A (a) | 3,934 | 29,308 | |
Hello Group, Inc. | 64,557 | 298,253 | |
iQIYI, Inc., ADR (a),(c) | 82,285 | 222,992 | |
JD.com, Inc., ADR | 2,207 | 111,012 | |
JOYY, Inc., ADR | 15,227 | 395,902 | |
Kakao Corp. | 1,435 | 57,272 | |
Kuaishou Technology (a),(b) | 52,500 | 340,764 | |
Lulu's Fashion Lounge Holdings, Inc. (a),(c) | 8,013 | 37,341 | |
Match Group, Inc. (a) | 4,136 | 197,494 | |
Meta Platforms, Inc., Class A (a) | 512 | 69,468 | |
Naspers Ltd., Class N | 4,362 | 545,440 | |
Netflix, Inc. (a) | 1,818 | 428,030 | |
Pinterest, Inc., Class A (a) | 4,741 | 110,465 | |
RealReal, Inc. (a) | 7,483 | 11,225 | |
Revolve Group, Inc. (a) | 9,421 | 204,342 | |
Rightmove PLC | 7,136 | 38,420 | |
Shutterstock, Inc. | 585 | 29,350 | |
Snap, Inc., Class A (a) | 12,498 | 122,730 | |
Temple & Webster Group Ltd. (a) | 11,836 | 37,930 | |
Tencent Holdings Ltd. | 2,600 | 88,238 | |
Tencent Music Entertainment Group, ADR (a) | 114,796 | 466,072 | |
THG PLC (a) | 49,088 | 20,674 | |
Trip.com Group Ltd., ADR (a) | 21,484 | 586,728 | |
Vipshop Holdings Ltd., ADR (a) | 6,606 | 55,557 | |
Weibo Corp. (a) | 2,425 | 41,468 | |
$ | 5,535,359 | ||
Leisure Time — 2.66% | |||
Camping World Holdings, Inc., Class A | 18,276 | 462,748 |
See accompanying notes.
42
Schedule of Investments | |||
Principal Millennial Global Growth ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Leisure Time (continued) | |||
Shimano, Inc. | 500 | $ | 78,560 |
$ | 541,308 | ||
Media — 4.55% | |||
Comcast Corp., Class A | 2,422 | 71,037 | |
Fox Corp., Class B | 3,177 | 90,545 | |
Paramount Global, Class B | 11,903 | 226,633 | |
Sirius XM Holdings, Inc. | 17,148 | 97,915 | |
Vivendi SE | 56,590 | 442,135 | |
$ | 928,265 | ||
Real Estate — 0.44% | |||
REA Group Ltd. | 1,220 | 89,626 | |
REITs — 3.47% | |||
EastGroup Properties, Inc. | 566 | 81,697 | |
Equity Residential | 1,281 | 86,109 | |
Prologis, Inc. | 701 | 71,222 | |
Rexford Industrial Realty, Inc. | 1,546 | 80,392 | |
Segro PLC | 42,118 | 354,112 | |
Warehouses De Pauw CVA | 1,366 | 33,629 | |
$ | 707,161 | ||
Retail — 16.59% | |||
Academy Sports & Outdoors, Inc. | 1,380 | 58,208 | |
American Eagle Outfitters, Inc. | 3,233 | 31,457 | |
ANTA Sports Products Ltd. | 10,000 | 105,992 | |
Bath & Body Works, Inc. | 2,412 | 78,631 | |
Bed Bath & Beyond, Inc. (a),(c) | 15,047 | 91,636 | |
Dick's Sporting Goods, Inc. | 544 | 56,924 | |
Foot Locker, Inc. | 1,832 | 57,030 | |
Frasers Group PLC (a) | 7,123 | 53,923 | |
Goldwin, Inc. | 1,200 | 63,511 | |
H & M Hennes & Mauritz AB, Class B (c) | 9,179 | 85,573 | |
Hibbett, Inc. | 1,225 | 61,017 | |
Home Depot, Inc. | 2,274 | 627,488 | |
Industria de Diseno Textil SA | 33,846 | 705,874 | |
Kingfisher PLC | 17,684 | 43,518 | |
Li Ning Co. Ltd. | 14,771 | 113,093 | |
Lowe's Cos., Inc. | 564 | 105,925 | |
Lululemon Athletica, Inc. (a) | 312 | 87,223 | |
Next PLC | 1,587 | 85,072 | |
Pandora A/S | 1,302 | 61,629 | |
Petco Health & Wellness Co., Inc. (a),(c) | 2,775 | 30,969 | |
Qurate Retail, Inc., Series A | 11,413 | 22,940 | |
Ryohin Keikaku Co. Ltd. | 4,920 | 41,099 | |
Signet Jewelers Ltd. | 7,692 | 439,906 | |
Starbucks Corp. | 1,267 | 106,757 | |
Truworths International Ltd. | 14,892 | 41,015 | |
Victoria's Secret & Co. (a) | 1,057 | 30,780 | |
Williams-Sonoma, Inc. | 794 | 93,573 | |
$ | 3,380,763 | ||
Semiconductors — 0.25% | |||
NVIDIA Corp. | 421 | 51,105 | |
Software — 5.06% | |||
Bilibili, Inc., ADR (a),(c) | 14,431 | 221,083 |
See accompanying notes.
43
Schedule of Investments | |||||
Principal Millennial Global Growth ETF | |||||
September 30, 2022 (unaudited) | |||||
COMMON STOCKS (continued) | Shares Held | Value | |||
Software (continued) | |||||
DouYu International Holdings Ltd., ADR (a) | 177,364 | $ | 177,364 | ||
Fidelity National Information Services, Inc. | 1,130 | 85,394 | |||
Fiserv, Inc. (a) | 1,151 | 107,699 | |||
HUYA, Inc., ADR (a) | 82,620 | 183,416 | |||
Kakao Games Corp. (a) | 920 | 27,426 | |||
Microsoft Corp. | 369 | 85,940 | |||
NetEase, Inc., ADR | 1,388 | 104,933 | |||
XD, Inc. (a) | 19,000 | 38,728 | |||
$ | 1,031,983 | ||||
Telecommunications — 2.87% | |||||
AT&T, Inc. | 38,150 | 585,221 | |||
Toys, Games & Hobbies — 2.94% | |||||
Funko, Inc., Class A (a) | 29,599 | 598,492 | |||
Transportation — 1.55% | |||||
Deutsche Post AG | 2,559 | 78,035 | |||
FedEx Corp. | 491 | 72,899 | |||
United Parcel Service, Inc., Class B | 531 | 85,778 | |||
XPO Logistics, Inc. (a) | 745 | 33,167 | |||
Yamato Holdings Co. Ltd. | 3,100 | 46,629 | |||
$ | 316,508 | ||||
TOTAL COMMON STOCKS | $ | 20,310,894 | |||
INVESTMENT COMPANIES — 1.96% | Shares Held | Value | |||
Money Market Funds — 1.96% | |||||
Principal Government Money Market Fund — Institutional Class 2.80% (d),(e),(f) | 330,928 | $ | 330,928 | ||
State Street Institutional U.S. Government Money Market Fund — Institutional | |||||
Class 0.80% (f) | 69,049 | 69,049 | |||
TOTAL INVESTMENT COMPANIES | $ | 399,977 | |||
Total Investments | $ | 20,710,871 | |||
Other Assets and Liabilities — (1.60)% | (326,673 | ) | |||
Total Net Assets — 100.00% | $ | 20,384,198 | |||
(a) | Non-income producing security. | ||||
(b) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in | ||||
transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these | |||||
securities totaled $692,451 or 3.40% of net assets. | |||||
(c) | Security or a portion of the security was on loan. At the end of the period, the value of these securities totaled $310,650 or | ||||
1.52% of net assets. | |||||
(d) | Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate | ||||
as defined by the Investment Company Act of 1940 (controls 5.00% or more of the outstanding voting shares of the security). | |||||
Please see Affiliated Securities sub-schedule for transactional information. | |||||
(e) | Security or a portion of the security was received as collateral for securities lending. At the end of the period, the value of | ||||
these securities totaled $330,928 or 1.62% of net assets. | |||||
(f) | Current yield shown is as of period end. |
See accompanying notes.
Schedule of Investments | ||||||||||
Principal Millennial Global Growth ETF | ||||||||||
September 30, 2022 (unaudited) | ||||||||||
Portfolio Summary (unaudited) | ||||||||||
Location | Percent | |||||||||
United States | 51.86 | % | ||||||||
Cayman Islands | 22.05 | % | ||||||||
Spain | 3.46 | % | ||||||||
France | 3.30 | % | ||||||||
Netherlands | 3.24 | % | ||||||||
United Kingdom | 3.04 | % | ||||||||
South Africa | 2.88 | % | ||||||||
Japan | 2.81 | % | ||||||||
Republic Of Korea | 2.68 | % | ||||||||
Bermuda | 2.28 | % | ||||||||
Germany | 1.78 | % | ||||||||
Australia | 0.90 | % | ||||||||
Sweden | 0.42 | % | ||||||||
Canada | 0.32 | % | ||||||||
Denmark | 0.30 | % | ||||||||
Belgium | 0.16 | % | ||||||||
Turkey | 0.12 | % | ||||||||
Other Assets and Liabilities | (1.60 | )% | ||||||||
TOTAL NET ASSETS | 100.00 | % | ||||||||
June 30, 2022 | Purchases | Sales | September 30, 2022 | |||||||
Affiliated Securities | Value | Cost | Proceeds | Value | ||||||
Principal Government Money | ||||||||||
Market Fund — Institutional Class | ||||||||||
2.80 | % | $ | 988,500 | $ | 5,231,115 | $ | 5,888,687 | $ | 330,928 | |
$ | 988,500 | $ | 5,231,115 | $ | 5,888,687 | $ | 330,928 | |||
Realized Gain | ||||||||||
Realized | from | Change in | ||||||||
Gain/(Loss) on | Capital Gain | Unrealized | ||||||||
Income (a) | Investments | Distributions | Gain/(Loss) | |||||||
Principal Government Money | ||||||||||
Market Fund — Institutional Class | ||||||||||
2.80 | % | $ | — | $ | — | $ | — | $ | — | |
$ | — | $ | — | $ | — | $ | — | |||
(a) Amount excludes earnings from securities lending collateral. |
See accompanying notes.
45
Schedule of Investments | |||
Principal Quality ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS — 99.72% | Shares Held | Value | |
Advertising — 1.11% | |||
Interpublic Group of Cos., Inc. | 13,532 | $ | 346,419 |
Aerospace & Defense — 1.41% | |||
Lockheed Martin Corp. | 1,141 | 440,757 | |
Apparel — 2.30% | |||
NIKE, Inc., Class B | 4,613 | 383,433 | |
Tapestry, Inc. | 11,894 | 338,146 | |
$ | 721,579 | ||
Auto Manufacturers — 0.33% | |||
Tesla, Inc. (a) | 392 | 103,978 | |
Banks — 4.90% | |||
Bank of America Corp. | 18,877 | 570,086 | |
JPMorgan Chase & Co. | 6,246 | 652,707 | |
SVB Financial Group (a) | 926 | 310,932 | |
$ | 1,533,725 | ||
Biotechnology — 3.19% | |||
Gilead Sciences, Inc. | 7,538 | 465,019 | |
Regeneron Pharmaceuticals, Inc. (a) | 775 | 533,874 | |
$ | 998,893 | ||
Commercial Services — 4.31% | |||
Gartner, Inc. (a) | 1,636 | 452,665 | |
Moody's Corp. | 1,557 | 378,522 | |
PayPal Holdings, Inc. (a) | 6,040 | 519,863 | |
$ | 1,351,050 | ||
Computers — 6.52% | |||
Apple, Inc. | 12,187 | 1,684,243 | |
Fortinet, Inc. (a) | 7,313 | 359,288 | |
$ | 2,043,531 | ||
Diversified Financial Services — 5.21% | |||
Ameriprise Financial, Inc. | 1,624 | 409,167 | |
Mastercard, Inc., Class A | 2,034 | 578,348 | |
Visa, Inc., Class A | 3,628 | 644,514 | |
$ | 1,632,029 | ||
Electrical Components & Equipment — 1.28% | |||
AMETEK, Inc. | 3,528 | 400,110 | |
Electronics — 6.10% | |||
Agilent Technologies, Inc. | 3,459 | 420,441 | |
Allegion PLC | 3,640 | 326,435 | |
Amphenol Corp., Class A | 6,237 | 417,630 | |
Mettler-Toledo International, Inc. (a) | 342 | 370,769 | |
TE Connectivity Ltd. | 3,411 | 376,438 | |
$ | 1,911,713 | ||
Food — 2.85% | |||
General Mills, Inc. | 6,174 | 472,990 | |
Mondelez International, Inc., Class A | 7,666 | 420,327 | |
$ | 893,317 | ||
Healthcare — Products — 8.84% | |||
Abbott Laboratories | 5,320 | 514,763 |
See accompanying notes.
46
Schedule of Investments | ||||
Principal Quality ETF | ||||
September 30, 2022 (unaudited) | ||||
COMMON STOCKS (continued) | Shares Held | Value | ||
Healthcare — Products (continued) | ||||
Bio-Techne Corp. | 1,176 | $ | 333,984 | |
IDEXX Laboratories, Inc. (a) | 1,184 | 385,747 | ||
Teleflex, Inc. | 1,467 | 295,542 | ||
Thermo Fisher Scientific, Inc. | 1,125 | 570,589 | ||
Waters Corp. (a) | 1,225 | 330,174 | ||
West Pharmaceutical Services, Inc. | 1,380 | 339,591 | ||
$ | 2,770,390 | |||
Healthcare — Services — 7.49% | ||||
Charles River Laboratories International, Inc. (a) | 1,785 | 351,288 | ||
IQVIA Holdings, Inc. (a) | 2,044 | 370,250 | ||
Laboratory Corp. of America Holdings | 1,800 | 368,658 | ||
Quest Diagnostics, Inc. | 3,017 | 370,156 | ||
UnitedHealth Group, Inc. | 1,756 | 886,850 | ||
$ | 2,347,202 | |||
Insurance — 1.28% | ||||
Berkshire Hathaway, Inc., Class B (a) | 138 | 36,849 | ||
Prudential Financial, Inc. | 4,249 | 364,479 | ||
$ | 401,328 | |||
Internet — 3.80% | ||||
Alphabet, Inc., Class A (a) | 1,600 | 153,040 | ||
Alphabet, Inc., Class C (a) | 5,712 | 549,209 | ||
Amazon.com, Inc. (a) | 4,319 | 488,047 | ||
$ | 1,190,296 | |||
Machinery — Diversified — 1.36% | ||||
IDEX Corp. | 2,129 | 425,481 | ||
Media — 2.69% | ||||
Comcast Corp., Class A | 13,748 | 403,229 | ||
FactSet Research Systems, Inc. | 1,096 | 438,520 | ||
$ | 841,749 | |||
Oil & Gas Services — 1.09% | ||||
Schlumberger NV | 9,484 | 340,476 | ||
Pharmaceuticals — 10.88% | ||||
AbbVie, Inc. | 4,496 | 603,408 | ||
Bristol-Myers Squibb Co. | 7,287 | 518,033 | ||
Eli Lilly & Co. | 2,093 | 676,771 | ||
Merck & Co., Inc. | 6,999 | 602,754 | ||
Pfizer, Inc. | 13,451 | 588,616 | ||
Zoetis, Inc. | 2,835 | 420,402 | ||
$ | 3,409,984 | |||
REITs — 1.04% | ||||
Weyerhaeuser Co. | 11,373 | 324,813 | ||
Retail — 6.10% | ||||
Chipotle Mexican Grill, Inc. (a) | 320 | 480,883 | ||
McDonald's Corp. | 2,385 | 550,315 | ||
O'Reilly Automotive, Inc. (a) | 700 | 492,345 | ||
Yum! Brands, Inc. | 3,647 | 387,822 | ||
$ | 1,911,365 |
See accompanying notes.
47
Schedule of Investments | ||||||
Principal Quality ETF | ||||||
September 30, 2022 (unaudited) | ||||||
COMMON STOCKS (continued) | Shares Held | Value | ||||
Semiconductors — 4.76% | ||||||
Applied Materials, Inc. | 4,671 | $ | 382,695 | |||
Lam Research Corp. | 951 | 348,066 | ||||
QUALCOMM, Inc. | 4,003 | 452,259 | ||||
Teradyne, Inc. | 4,086 | 307,063 | ||||
$ | 1,490,083 | |||||
Software — 8.21% | ||||||
Microsoft Corp. | 9,191 | 2,140,584 | ||||
Synopsys, Inc. (a) | 1,412 | 431,380 | ||||
$ | 2,571,964 | |||||
Telecommunications — 1.68% | ||||||
Cisco Systems, Inc. | 13,164 | 526,560 | ||||
Transportation — 0.99% | ||||||
FedEx Corp. | 2,087 | 309,857 | ||||
TOTAL COMMON STOCKS | $ | 31,238,649 | ||||
INVESTMENT COMPANIES — 0.24% | Shares Held | Value | ||||
Money Market Fund — 0.24% | ||||||
State Street Institutional U.S. Government Money Market Fund — Institutional | ||||||
Class 0.80% (b) | 74,105 | $ | 74,105 | |||
TOTAL INVESTMENT COMPANIES | $ | 74,105 | ||||
Total Investments | $ | 31,312,754 | ||||
Other Assets and Liabilities — 0.04% | 12,503 | |||||
Total Net Assets — 100.00% | $ | 31,325,257 | ||||
(a) | Non-income producing security. | |||||
(b) | Current yield shown is as of period end. | |||||
Portfolio Summary (unaudited) | ||||||
Sector | Percent | |||||
Consumer, Non-cyclical | 37.58 | % | ||||
Technology | 19.49 | % | ||||
Financial | 12.42 | % | ||||
Industrial | 11.13 | % | ||||
Communications | 9.27 | % | ||||
Consumer, Cyclical | 8.74 | % | ||||
Energy | 1.09 | % | ||||
Money Market Fund | 0.24 | % | ||||
Other Assets and Liabilities | 0.04 | % | ||||
TOTAL NET ASSETS | 100.00 | % |
See accompanying notes. 48
Schedule of Investments | |||||
Principal Real Estate Active Opportunities ETF | |||||
September 30, 2022 (unaudited) | |||||
COMMON STOCKS — 97.64% | Shares Held | Value | |||
Entertainment — 3.16% | |||||
Marriott Vacations Worldwide Corp. | 1,264 | $ | 154,031 | ||
REITs — 94.48% | |||||
Alexandria Real Estate Equities, Inc. | 1,693 | 237,342 | |||
American Homes 4 Rent, Class A | 6,946 | 227,898 | |||
American Tower Corp. | 1,419 | 304,659 | |||
Crown Castle, Inc. | 1,414 | 204,394 | |||
CubeSmart | 5,649 | 226,299 | |||
DiamondRock Hospitality Co. | 17,117 | 128,549 | |||
Digital Realty Trust, Inc. | 1,591 | 157,795 | |||
Equinix, Inc. | 388 | 220,710 | |||
Equity LifeStyle Properties, Inc. | 3,555 | 223,396 | |||
Extra Space Storage, Inc. | 1,996 | 344,729 | |||
Invitation Homes, Inc. | 10,368 | 350,127 | |||
Medical Properties Trust, Inc. | 10,452 | 123,961 | |||
Rexford Industrial Realty, Inc. | 6,298 | 327,496 | |||
SBA Communications Corp. | 757 | 215,480 | |||
Sun Communities, Inc. | 2,276 | 308,011 | |||
Terreno Realty Corp. | 4,199 | 222,505 | |||
Ventas, Inc. | 7,171 | 288,059 | |||
VICI Properties, Inc. | 10,836 | 323,455 | |||
Welltower, Inc. | 2,549 | 163,952 | |||
$ | 4,598,817 | ||||
TOTAL COMMON STOCKS | $ | 4,752,848 | |||
INVESTMENT COMPANIES — 2.56% | Shares Held | Value | |||
Money Market Fund — 2.56% | |||||
State Street Institutional U.S. Government Money Market Fund — Institutional | |||||
Class 0.80% (a) | 124,473 | 124,473 | |||
TOTAL INVESTMENT COMPANIES | $ | 124,473 | |||
Total Investments | $ | 4,877,321 | |||
Other Assets and Liabilities — (0.20)% | (9,899 | ) | |||
Total Net Assets — 100.00% | $ | 4,867,422 | |||
(a) Current yield shown is as of period end. | |||||
Portfolio Summary (unaudited) | |||||
Sector | Percent | ||||
Financial | 94.48 | % | |||
Consumer, Cyclical | 3.16 | % | |||
Money Market Fund | 2.56 | % | |||
Other Assets and Liabilities | (0.20 | )% | |||
TOTAL NET ASSETS | 100.00 | % |
See accompanying notes. 49
Schedule of Investments | ||||
Principal Spectrum Preferred Securities Active ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS — 95.30% | Amount | Value | ||
Banks — 41.61% | ||||
Bank of America Corp. | ||||
(5-year Treasury Constant Maturity Rate + 2.76%), | ||||
4.38%, 01/27/2027 (a),(b) | $ | 9,588,000 | $ | 7,694,370 |
(5-year Treasury Constant Maturity Rate + 3.23%), | ||||
6.13%, 04/27/2027 (a),(b) | 7,731,000 | 7,305,795 | ||
(3-month USD LIBOR + 4.55%), | ||||
6.30%, 03/10/2026 (a),(b) | 600,000 | 589,380 | ||
Bank of Montreal | ||||
(5-year Treasury Constant Maturity Rate + 2.98%), | ||||
4.80%, 08/25/2024 (a),(b) | 2,937,000 | 2,465,612 | ||
Bank of New York Mellon Corp. | ||||
(5-year Treasury Constant Maturity Rate + 3.35%), | ||||
3.70%, 03/20/2026 (a),(b) | 9,047,000 | 7,964,473 | ||
(5-year Treasury Constant Maturity Rate + 2.63%), | ||||
3.75%, 12/20/2026 (a),(b) | 3,412,000 | 2,635,770 | ||
(5-year Treasury Constant Maturity Rate + 4.36%), | ||||
4.70%, 09/20/2025 (a),(b) | 568,000 | 543,860 | ||
Bank of Nova Scotia | ||||
(5-year Treasury Constant Maturity Rate + 4.55%), | ||||
4.90%, 06/04/2025 (a),(b) | 4,041,000 | 3,607,479 | ||
Citigroup, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 3.42%), | ||||
3.88%, 02/18/2026 (a),(b) | 6,780,000 | 5,590,991 | ||
(5-year Treasury Constant Maturity Rate + 3.60%), | ||||
4.00%, 12/10/2025 (a),(b) | 7,645,000 | 6,440,912 | ||
(3-month USD LIBOR + 3.91%), | ||||
5.95%, 05/15/2025 (a),(b) | 2,002,000 | 1,811,904 | ||
Citizens Financial Group, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 3.22%), | ||||
4.00%, 10/06/2026 (a),(b) | 1,906,000 | 1,526,621 | ||
(5-year Treasury Constant Maturity Rate + 5.31%), | ||||
5.65%, 10/06/2025 (a),(b) | 2,561,000 | 2,496,975 | ||
(3-month USD LIBOR + 3.16%), | ||||
6.38%, 04/06/2024 (a),(b) | 2,306,000 | 2,133,050 | ||
Comerica, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 5.29%), | ||||
5.63%, 07/01/2025 (a),(b) | 536,000 | 525,661 | ||
Fifth Third Bancorp | ||||
(5-year Treasury Constant Maturity Rate + 4.22%), | ||||
4.50%, 09/30/2025 (a),(b) | 848,000 | 780,089 | ||
Goldman Sachs Group, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 2.92%), | ||||
3.65%, 08/10/2026 (a),(b) | 1,611,000 | 1,236,443 | ||
(5-year Treasury Constant Maturity Rate + 2.97%), | ||||
3.80%, 05/10/2026 (a),(b) | 1,269,000 | 983,270 | ||
(5-year Treasury Constant Maturity Rate + 2.95%), | ||||
4.13%, 11/10/2026 (a),(b) | 4,257,000 | 3,384,315 | ||
(5-year Treasury Constant Maturity Rate + 3.62%), | ||||
5.50%, 08/10/2024 (a),(b) | 8,183,000 | 7,855,680 | ||
HSBC Capital Funding Dollar 1 LP | ||||
(3-month USD LIBOR + 4.98%), | ||||
10.18%, 06/30/2030 (a),(b) | 4,568,000 | 5,769,004 | ||
Huntington Bancshares, Inc. | ||||
(7-year Treasury Constant Maturity Rate + 4.05%), | ||||
4.45%, 10/15/2027 (a),(b) | 1,787,000 | 1,590,418 | ||
(10-year Treasury Constant Maturity Rate + 4.95%), | ||||
5.63%, 07/15/2030 (a),(b) | 5,716,000 | 5,296,745 |
See accompanying notes.
50
Schedule of Investments | ||||
Principal Spectrum Preferred Securities Active ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Banks (continued) | ||||
JPMorgan Chase & Co. | ||||
(5-year Treasury Constant Maturity Rate + 2.85%), | ||||
3.65%, 06/01/2026 (a),(b) | $ | 8,649,000 | $ | 7,004,061 |
(3-month USD LIBOR + 3.78%), | ||||
6.75%, 02/01/2024 (a),(b) | 4,128,000 | 4,090,543 | ||
M&T Bank Corp. | ||||
(5-year Treasury Constant Maturity Rate + 2.68%), | ||||
3.50%, 09/01/2026 (a),(b) | 7,753,000 | 5,780,495 | ||
PNC Financial Services Group, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 2.60%), | ||||
3.40%, 09/15/2026 (a),(b) | 2,790,000 | 2,082,114 | ||
(5-year Treasury Constant Maturity Rate + 3.24%), | ||||
6.20%, 09/15/2027 (a),(b) | 6,135,000 | 5,797,575 | ||
SVB Financial Group | ||||
(5-year Treasury Constant Maturity Rate + 3.20%), | ||||
4.00%, 05/15/2026 (a),(b) | 2,149,000 | 1,631,555 | ||
(5-year Treasury Constant Maturity Rate + 3.07%), | ||||
4.25%, 11/15/2026 (a),(b) | 5,769,000 | 4,246,690 | ||
Truist Financial Corp. | ||||
(5-year Treasury Constant Maturity Rate + 3.00%), | ||||
4.80%, 09/01/2024 (a),(b) | 5,380,000 | 4,790,060 | ||
(5-year Treasury Constant Maturity Rate + 4.61%), | ||||
4.95%, 09/01/2025 (a),(b) | 1,394,000 | 1,339,341 | ||
U.S. Bancorp | ||||
(5-year Treasury Constant Maturity Rate + 2.54%), | ||||
3.70%, 01/15/2027 (a),(b) | 8,435,000 | 6,367,160 | ||
Wells Fargo & Co. | ||||
(5-year Treasury Constant Maturity Rate + 3.45%), | ||||
3.90%, 03/15/2026 (a),(b) | 13,726,000 | 11,607,049 | ||
(3-month USD LIBOR + 3.99%), | ||||
5.88%, 06/15/2025 (a),(b) | 4,331,000 | 4,123,319 | ||
$ | 139,088,779 | |||
Diversified Financial Services — 10.73% | ||||
Ally Financial, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 3.87%), | ||||
4.70%, 05/15/2026 (a),(b) | 6,776,000 | 5,281,957 | ||
(7-year Treasury Constant Maturity Rate + 3.48%), | ||||
4.70%, 05/15/2028 (a),(b) | 277,000 | 197,363 | ||
American Express Co. | ||||
(5-year Treasury Constant Maturity Rate + 2.85%), | ||||
3.55%, 09/15/2026 (a),(b) | 9,372,000 | 7,222,780 | ||
Capital One Financial Corp. | ||||
(5-year Treasury Constant Maturity Rate + 3.16%), | ||||
3.95%, 09/01/2026 (a),(b) | 5,733,000 | 4,500,405 | ||
Charles Schwab Corp. | ||||
(5-year Treasury Constant Maturity Rate + 3.17%), | ||||
4.00%, 06/01/2026 (a),(b) | 12,069,000 | 9,899,063 | ||
(5-year Treasury Constant Maturity Rate + 4.97%), | ||||
5.38%, 06/01/2025 (a),(b) | 3,774,000 | 3,670,215 | ||
Discover Financial Services | ||||
(5-year Treasury Constant Maturity Rate + 5.78%), | ||||
6.13%, 06/23/2025 (a),(b) | 5,200,000 | 5,072,387 | ||
$ | 35,844,170 |
See accompanying notes.
51
Schedule of Investments | ||||
Principal Spectrum Preferred Securities Active ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Electric — 12.40% | ||||
Algonquin Power & Utilities Corp. | ||||
(5-year Treasury Constant Maturity Rate + 3.25%), | ||||
4.75%, 01/18/2082 (a) | $ | 2,980,000 | $ | 2,433,975 |
American Electric Power Co., Inc. | ||||
(5-year Treasury Constant Maturity Rate + 2.68%), | ||||
3.88%, 02/15/2062 (a) | 2,881,000 | 2,258,031 | ||
CMS Energy Corp. | ||||
(5-year Treasury Constant Maturity Rate + 4.12%), | ||||
4.75%, 06/01/2050 (a) | 2,451,000 | 2,071,095 | ||
Dominion Energy, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 3.20%), | ||||
4.35%, 01/15/2027 (a),(b) | 540,000 | 458,114 | ||
(5-year Treasury Constant Maturity Rate + 2.99%), | ||||
4.65%, 12/15/2024 (a),(b) | 11,314,000 | 9,964,842 | ||
Duke Energy Corp. | ||||
(5-year Treasury Constant Maturity Rate + 2.32%), | ||||
3.25%, 01/15/2082 (a) | 4,301,000 | 3,152,900 | ||
(5-year Treasury Constant Maturity Rate + 3.39%), | ||||
4.88%, 09/16/2024 (a),(b) | 7,713,000 | 6,912,719 | ||
Emera, Inc. | ||||
(3-month USD LIBOR + 5.44%), | ||||
6.75%, 06/15/2076 (a) | 5,727,000 | 5,431,223 | ||
Enel SpA | ||||
(5-year Swap rate + 5.88%), | ||||
8.75%, 09/24/2073 | 3,300,000 | 3,291,750 | ||
NextEra Energy Capital Holdings, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 2.55%), | ||||
3.80%, 03/15/2082 (a) | 4,468,000 | 3,506,919 | ||
Southern Co. | ||||
(5-year Treasury Constant Maturity Rate + 3.73%), | ||||
4.00%, 01/15/2051 (a) | 2,206,000 | 1,977,017 | ||
$ | 41,458,585 | |||
Gas — 1.37% | ||||
NiSource, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 2.84%), | ||||
5.65%, 06/15/2023 (a),(b) | 4,963,000 | 4,578,367 | ||
Hand/Machine Tools — 0.82% | ||||
Stanley Black & Decker, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 2.66%), | ||||
4.00%, 03/15/2060 (a) | 3,175,000 | 2,737,453 | ||
Insurance — 20.14% | ||||
Allstate Corp. | ||||
(3-month USD LIBOR + 2.94%), | ||||
5.75%, 08/15/2053 (a) | 3,175,000 | 2,922,645 | ||
American International Group, Inc. | ||||
(3-month USD LIBOR + 2.87%), | ||||
5.75%, 04/01/2048 (a) | 1,182,000 | 1,088,951 | ||
Argentum Netherlands BV for Swiss Re Ltd. | ||||
(3-month USD LIBOR + 3.78%), | ||||
5.63%, 08/15/2052 (a) | 5,600,000 | 4,972,800 | ||
Argentum Netherlands BV for Zurich Insurance Co. Ltd. | ||||
(5-year Treasury Constant Maturity Rate + 3.27%), | ||||
5.13%, 06/01/2048 (a) | 4,000,000 | 3,522,000 |
See accompanying notes.
52
Schedule of Investments | ||||
Principal Spectrum Preferred Securities Active ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Insurance (continued) | ||||
Cloverie PLC for Zurich Insurance Co. Ltd. | ||||
(3-month USD LIBOR + 4.92%), | ||||
5.63%, 06/24/2046 (a) | $ | 5,600,000 | $ | 5,173,560 |
Equitable Holdings, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 4.74%), | ||||
4.95%, 09/15/2025 (a),(b) | 3,275,000 | 3,070,313 | ||
Liberty Mutual Group, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 3.32%), | ||||
4.13%, 12/15/2051 (a),(c) | 2,587,000 | 1,998,633 | ||
Meiji Yasuda Life Insurance Co. | ||||
(5-year Swap rate + 4.23%), | ||||
5.20%, 10/20/2045 (a),(c) | 3,175,000 | 3,061,558 | ||
MetLife, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 3.58%), | ||||
3.85%, 09/15/2025 (a),(b) | 8,503,000 | 7,606,740 | ||
9.25%, 04/08/2068 (c) | 1,400,000 | 1,616,436 | ||
Nippon Life Insurance Co. | ||||
(5-year Treasury Constant Maturity Rate + 2.65%), | ||||
2.75%, 01/21/2051 (a),(c) | 4,193,000 | 3,267,573 | ||
(5-year Treasury Constant Maturity Rate + 2.60%), | ||||
2.90%, 09/16/2051 (a),(c) | 2,368,000 | 1,830,561 | ||
Prudential Financial, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 3.04%), | ||||
3.70%, 10/01/2050 (a) | 8,312,000 | 6,564,818 | ||
(5-year Treasury Constant Maturity Rate + 3.16%), | ||||
5.13%, 03/01/2052 (a) | 4,584,000 | 3,974,053 | ||
Sumitomo Life Insurance Co. | ||||
(5-year Treasury Constant Maturity Rate + 2.75%), | ||||
3.38%, 04/15/2081 (a),(c) | 3,820,000 | 3,094,200 | ||
(3-month USD LIBOR + 4.44%), | ||||
6.50%, 09/20/2073 (a),(c) | 6,371,000 | 6,355,645 | ||
Voya Financial, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 3.36%), | ||||
6.13%, 09/15/2023 (a),(b) | 3,175,000 | 3,077,055 | ||
Zurich Finance Ireland Designated Activity Co. | ||||
(5-year Treasury Constant Maturity Rate + 2.78%), | ||||
3.00%, 04/19/2051 (a) | 6,000,000 | 4,133,700 | ||
$ | 67,331,241 | |||
Oil & Gas — 1.61% | ||||
BP Capital Markets PLC | ||||
(5-year Treasury Constant Maturity Rate + 4.04%), | ||||
4.38%, 06/22/2025 (a),(b) | 4,355,000 | 4,028,375 | ||
(5-year Treasury Constant Maturity Rate + 4.40%), | ||||
4.88%, 03/22/2030 (a),(b) | 1,560,000 | 1,341,600 | ||
$ | 5,369,975 | |||
Pipelines — 4.48% | ||||
Enbridge, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 5.31%), | ||||
5.75%, 07/15/2080 (a) | 1,825,000 | 1,605,544 | ||
(3-month USD LIBOR + 3.89%), | ||||
6.00%, 01/15/2077 (a) | 4,732,000 | 4,233,781 | ||
7.63%, 01/15/2083 | 500,000 | 482,089 | ||
Enterprise Products Operating LLC | ||||
(3-month USD LIBOR + 3.03%), | ||||
5.25%, 08/16/2077 (a) | 3,175,000 | 2,653,677 |
See accompanying notes.
53
Schedule of Investments | |||||||
Principal Spectrum Preferred Securities Active ETF | |||||||
September 30, 2022 (unaudited) | |||||||
Principal | |||||||
BONDS (continued) | Amount | Value | |||||
Pipelines (continued) | |||||||
Transcanada Trust | |||||||
(6-month Secured Overnight Financing Rate + 4.42%), | |||||||
5.50%, 09/15/2079 (a) | $ | 6,937,000 | $ | 6,000,505 | |||
$ | 14,975,596 | ||||||
REITs — 0.71% | |||||||
Scentre Group Trust 2 | |||||||
(5-year Treasury Constant Maturity Rate + 4.38%), | |||||||
4.75%, 09/24/2080 (a),(c) | 891,000 | 765,187 | |||||
(5-year Treasury Constant Maturity Rate + 4.69%), | |||||||
5.13%, 09/24/2080 (a),(c) | 1,989,000 | 1,619,185 | |||||
$ | 2,384,372 | ||||||
Telecommunications — 1.43% | |||||||
Vodafone Group PLC | |||||||
(5-year Treasury Constant Maturity Rate + 2.77%), | |||||||
4.13%, 06/04/2081 (a) | 1,773,000 | 1,227,803 | |||||
(5-year Swap rate + 4.87%), | |||||||
7.00%, 04/04/2079 (a) | 3,742,000 | 3,560,887 | |||||
$ | 4,788,690 | ||||||
TOTAL BONDS | $ | 318,557,228 | |||||
INVESTMENT COMPANIES — 4.85% | Shares Held | Value | |||||
Money Market Fund — 4.85% | |||||||
State Street Institutional U.S. Government Money Market Fund — Institutional | |||||||
Class 0.80% (d) | 16,194,926 | $ | 16,194,926 | ||||
TOTAL INVESTMENT COMPANIES | $ | 16,194,926 | |||||
Total Investments | $ | 334,752,154 | |||||
Other Assets and Liabilities — (0.15)% | (488,078 | ) | |||||
Total Net Assets — 100.00% | $ | 334,264,076 | |||||
(a) | Rate shown is as of period end. The rate may be a variable or floating rate or a fixed rate which may convert to a variable or | ||||||
floating rate in the future. | |||||||
(b) | Perpetual security. Perpetual securities pay an indefinite stream of interest, but they may be called by the issuer at an earlier | ||||||
date. Date shown, if any, reflects the next call date or final legal maturity date. Rate shown is as of period end. | |||||||
(c) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in | ||||||
transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these | |||||||
securities totaled $23,608,978 or 7.06% of net assets. | |||||||
(d) | Current yield shown is as of period end. | ||||||
Portfolio Summary (unaudited) | |||||||
Sector | Percent | ||||||
Financial | 73.19 | % | |||||
Utilities | 13.77 | % | |||||
Energy | 6.09 | % | |||||
Money Market Fund | 4.85 | % | |||||
Communications | 1.43 | % | |||||
Industrial | 0.82 | % | |||||
Other Assets and Liabilities | (0.15 | )% | |||||
TOTAL NET ASSETS | 100.00 | % |
See accompanying notes. 54
Schedule of Investments | |||||||||
Principal Spectrum Preferred Securities Active ETF | |||||||||
September 30, 2022 (unaudited) | |||||||||
June 30, 2022 | Purchases | Sales | September 30, 2022 | ||||||
Affiliated Securities | Value | Cost | Proceeds | Value | |||||
Principal Government Money | |||||||||
Market Fund — Institutional Class | |||||||||
2.80 | % | $ | 2,707,203 | $ | 1,822,552 | $ | 4,529,755 | $ | — |
$ | 2,707,203 | $ | 1,822,552 | $ | 4,529,755 | $ | — | ||
Realized Gain | |||||||||
Realized | from | Change in | |||||||
Gain/(Loss) on | Capital Gain | Unrealized | |||||||
Income (a) | Investments | Distributions | Gain/(Loss) | ||||||
Principal Government Money | |||||||||
Market Fund — Institutional Class | |||||||||
2.80 | % | $ | — | $ | — | $ | — | $ | — |
$ | — | $ | — | $ | — | $ | — | ||
(a) Amount excludes earnings from securities lending collateral. |
See accompanying notes.
55
Schedule of Investments | ||||
Principal Spectrum Tax-Advantaged Dividend Active ETF | ||||
September 30, 2022 (unaudited) | ||||
PREFERRED STOCKS — 11.90% | Shares Held | Value | ||
Banks — 5.48% | ||||
Associated Banc-Corp.; Series F | ||||
5.63%, 09/15/2025 (a) | 2,070 | $ | 50,301 | |
Bank of America Corp.; Series NN | ||||
4.38%, 11/03/2025 (a) | 4,380 | 80,066 | ||
Fulton Financial Corp.; Series A | ||||
5.13%, 01/15/2026 (a) | 9,200 | 191,176 | ||
Morgan Stanley | ||||
6.50%, 10/15/2027 (a) | 4,000 | 100,560 | ||
Morgan Stanley; Series I | ||||
(3-month USD LIBOR + 3.71%), | ||||
6.38%, 10/15/2024 (a) | 17,030 | 420,982 | ||
Synovus Financial Corp.; Series E | ||||
(5-year Treasury Constant Maturity Rate + 4.13%), | ||||
5.88%, 07/01/2024 (a) | 11,500 | 281,865 | ||
$ | 1,124,950 | |||
Insurance — 3.87% | ||||
Allstate Corp.; Series H | ||||
5.10%, 10/15/2024 (a) | 11,500 | 241,385 | ||
American International Group, Inc.; Series A | ||||
5.85%, 03/15/2024 (a) | 8,019 | 192,937 | ||
MetLife, Inc.; Series F | ||||
4.75%, 03/15/2025 (a) | 17,250 | 358,455 | ||
$ | 792,777 | |||
Telecommunications — 2.55% | ||||
AT&T, Inc.; Series A | ||||
5.00%, 12/12/2024 (a) | 11,381 | 233,652 | ||
AT&T, Inc.; Series C | ||||
4.75%, 02/18/2025 (a) | 15,395 | 289,118 | ||
$ | 522,770 | |||
TOTAL PREFERRED STOCKS | $ | 2,440,497 | ||
Principal | ||||
BONDS — 85.23% | Amount | Value | ||
Banks — 69.20% | ||||
Bank of America Corp. | ||||
(3-month USD LIBOR + 3.90%), | ||||
6.10%, 03/17/2025 (a),(b) | $ | 34,000 | $ | 32,593 |
(3-month USD LIBOR + 4.55%), | ||||
6.30%, 03/10/2026 (a),(b) | 575,000 | 564,822 | ||
Bank of New York Mellon Corp. | ||||
(5-year Treasury Constant Maturity Rate + 3.35%), | ||||
3.70%, 03/20/2026 (a),(b) | 230,000 | 202,479 | ||
(5-year Treasury Constant Maturity Rate + 4.36%), | ||||
4.70%, 09/20/2025 (a),(b) | 575,000 | 550,563 | ||
Bank of Nova Scotia | ||||
(5-year Treasury Constant Maturity Rate + 4.55%), | ||||
4.90%, 06/04/2025 (a),(b) | 575,000 | 513,314 | ||
BNP Paribas SA | ||||
(5-year Treasury Constant Maturity Rate + 4.90%), | ||||
7.75%, 08/16/2029 (a),(b),(c),(d) | 200,000 | 184,560 | ||
Citigroup, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 3.42%), | ||||
3.88%, 02/18/2026 (a),(b) | 655,000 | 540,133 |
See accompanying notes. 56
Schedule of Investments | ||||
Principal Spectrum Tax-Advantaged Dividend Active ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Banks (continued) | ||||
Citizens Financial Group, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 5.31%), | ||||
5.65%, 10/06/2025 (a),(b) | $ | 575,000 | $ | 560,625 |
Comerica, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 5.29%), | ||||
5.63%, 07/01/2025 (a),(b) | 575,000 | 563,908 | ||
Credit Agricole SA | ||||
(5-year Swap Rate + 4.90%), | ||||
7.88%, 01/23/2024 (a),(b),(d) | 861,000 | 825,484 | ||
Credit Suisse Group AG | ||||
(5-year Treasury Constant Maturity Rate + 6.38%), | ||||
9.75%, 06/23/2027 (a),(b),(c),(d) | 600,000 | 588,528 | ||
Fifth Third Bancorp | ||||
(5-year Treasury Constant Maturity Rate + 4.22%), | ||||
4.50%, 09/30/2025 (a),(b) | 548,000 | 504,114 | ||
Goldman Sachs Group, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 2.97%), | ||||
3.80%, 05/10/2026 (a),(b) | 438,000 | 339,379 | ||
HSBC Holdings PLC | ||||
(6-month U.S. International Swaps and Derivative Association + 4.37%), | ||||
6.38%, 03/30/2025 (a),(b),(d) | 861,000 | 775,718 | ||
Huntington Bancshares, Inc. | ||||
(10-year Treasury Constant Maturity Rate + 4.95%), | ||||
5.63%, 07/15/2030 (a),(b) | 575,000 | 532,825 | ||
ING Groep NV | ||||
(5-year Treasury Constant Maturity Rate + 4.34%), | ||||
5.75%, 11/16/2026 (a),(b),(d) | 861,000 | 740,199 | ||
JPMorgan Chase & Co. | ||||
(5-year Treasury Constant Maturity Rate + 2.85%), | ||||
3.65%, 06/01/2026 (a),(b) | 110,000 | 89,079 | ||
Lloyds Banking Group PLC | ||||
(5-year Swap Rate + 4.50%), | ||||
7.50%, 09/27/2025 (a),(b),(d) | 861,000 | 785,662 | ||
M&T Bank Corp. | ||||
(3-month USD LIBOR + 3.52%), | ||||
5.13%, 11/01/2026 (a),(b) | 247,000 | 218,595 | ||
Natwest Group PLC | ||||
(5-year Swap Rate + 5.72%), | ||||
8.00%, 08/10/2025 (a),(b),(d) | 861,000 | 803,494 | ||
Nordea Bank Abp | ||||
(5-year Treasury Constant Maturity Rate + 4.11%), | ||||
6.63%, 03/26/2026 (a),(b),(c),(d) | 861,000 | 795,133 | ||
PNC Financial Services Group, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 3.00%), | ||||
6.00%, 05/15/2027 (a),(b) | 400,000 | 371,000 | ||
(5-year Treasury Constant Maturity Rate + 3.24%), | ||||
6.20%, 09/15/2027 (a),(b) | 100,000 | 94,500 | ||
Societe Generale SA | ||||
(5-year Swap rate + 4.98%), | ||||
7.88%, 12/18/2023 (a),(b),(d) | 824,000 | 790,010 | ||
SVB Financial Group | ||||
(5-year Treasury Constant Maturity Rate + 3.20%), | ||||
4.00%, 05/15/2026 (a),(b) | 110,000 | 83,514 | ||
Truist Financial Corp. | ||||
(5-year Treasury Constant Maturity Rate + 4.61%), | ||||
4.95%, 09/01/2025 (a),(b) | 575,000 | 552,454 |
See accompanying notes.
57
Schedule of Investments | ||||
Principal Spectrum Tax-Advantaged Dividend Active ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Banks (continued) | ||||
U.S. Bancorp | ||||
(5-year Treasury Constant Maturity Rate + 2.54%), | ||||
3.70%, 01/15/2027 (a),(b) | $ | 209,000 | $ | 157,764 |
UBS Group AG | ||||
(5-year Swap rate + 4.34%), | ||||
7.00%, 01/31/2024 (a),(b),(d) | 861,000 | 814,678 | ||
Wells Fargo & Co. | ||||
(5-year Treasury Constant Maturity Rate + 3.45%), | ||||
3.90%, 03/15/2026 (a),(b) | 328,000 | 277,365 | ||
(3-month USD LIBOR + 3.99%), | ||||
5.88%, 06/15/2025 (a),(b) | 355,000 | 337,977 | ||
$ | 14,190,469 | |||
Diversified Financial Services — 8.41% | ||||
Ally Financial, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 3.87%), | ||||
4.70%, 05/15/2026 (a),(b) | 220,000 | 171,492 | ||
Capital One Financial Corp. | ||||
(5-year Treasury Constant Maturity Rate + 3.16%), | ||||
3.95%, 09/01/2026 (a),(b) | 209,000 | 164,065 | ||
Charles Schwab Corp. | ||||
(5-year Treasury Constant Maturity Rate + 3.17%), | ||||
4.00%, 06/01/2026 (a),(b) | 328,000 | 269,027 | ||
(5-year Treasury Constant Maturity Rate + 4.97%), | ||||
5.38%, 06/01/2025 (a),(b) | 575,000 | 559,188 | ||
Discover Financial Services | ||||
(5-year Treasury Constant Maturity Rate + 5.78%), | ||||
6.13%, 06/23/2025 (a),(b) | 575,000 | 560,889 | ||
$ | 1,724,661 | |||
Electric — 4.49% | ||||
Dominion Energy, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 2.99%), | ||||
4.65%, 12/15/2024 (a),(b) | 460,000 | 405,146 | ||
Duke Energy Corp. | ||||
(5-year Treasury Constant Maturity Rate + 3.39%), | ||||
4.88%, 09/16/2024 (a),(b) | 575,000 | 515,340 | ||
$ | 920,486 | |||
Insurance — 3.13% | ||||
MetLife, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 3.58%), | ||||
3.85%, 09/15/2025 (a),(b) | 220,000 | 196,811 | ||
Voya Financial, Inc. | ||||
(5-year Treasury Constant Maturity Rate + 3.36%), | ||||
6.13%, 09/15/2023 (a),(b) | 460,000 | 445,809 | ||
$ | 642,620 | |||
TOTAL BONDS | $ | 17,478,236 |
See accompanying notes. 58
Schedule of Investments | ||||
Principal Spectrum Tax-Advantaged Dividend Active ETF | ||||
September 30, 2022 (unaudited) | ||||
INVESTMENT COMPANIES — 1.99% | Shares Held | Value | ||
Money Market Fund — 1.99% | ||||
State Street Institutional U.S. Government Money Market Fund — Institutional | ||||
Class 0.80% (e) | 407,069 | $ | 407,069 | |
TOTAL INVESTMENT COMPANIES | $ | 407,069 | ||
Total Investments | $ | 20,325,802 | ||
Other Assets and Liabilities — 0.88% | 181,406 | |||
Total Net Assets — 100.00% | $ | 20,507,208 | ||
(a) | Perpetual security. Perpetual securities pay an indefinite stream of interest, but they may be called by the issuer at an earlier | |||
date. Date shown, if any, reflects the next call date or final legal maturity date. Rate shown is as of period end. | ||||
(b) | Rate shown is as of period end. The rate may be a variable or floating rate or a fixed rate which may convert to a variable or | |||
floating rate in the future. | ||||
(c) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in | |||
transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these | ||||
securities totaled $1,568,221 or 7.65% of net assets. | ||||
(d) | Security is a contingent convertible security, ("CoCo"). CoCo's are hybrid debt securities that may convert to equity or have | |||
their principal written down upon occurrence of certain "triggers". At the end of the period, the value of these securities | ||||
totaled $7,103,466 or 34.64% of net assets. | ||||
(e) | Current yield shown is as of period end. | |||
Portfolio Summary (unaudited) | ||||
Sector | Percent | |||
Financial | 90.09 | % | ||
Utilities | 4.49 | % | ||
Communications | 2.55 | % | ||
Money Market Fund | 1.99 | % | ||
Other Assets and Liabilities | 0.88 | % | ||
TOTAL NET ASSETS | 100.00 | % |
See accompanying notes. 59
Schedule of Investments | ||||
Principal Ultra-Short Active Income ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS — 87.21% | Amount | Value | ||
Asset-Backed Securities — 21.63% | ||||
CPS Auto Receivables Trust 2021-B | ||||
0.37%, 03/17/2025 (a) | $ | 1,647 | $ | 1,644 |
CPS Auto Receivables Trust 2021-C | ||||
0.33%, 07/15/2024 (a) | 5,021 | 5,014 | ||
CPS Auto Receivables Trust 2022-A | ||||
0.98%, 04/16/2029 (a) | 84,129 | 82,564 | ||
CPS Auto Receivables Trust 2022-C | ||||
4.18%, 04/15/2030 (a) | 90,404 | 89,884 | ||
Ford Credit Auto Owner Trust 2018-REV2 | ||||
3.47%, 01/15/2030 (a) | 100,000 | 99,041 | ||
GM Financial Consumer Automobile Receivables Trust 2022-3 | ||||
(1-month Secured Overnight Financing Rate + 0.60%), | ||||
2.89%, 09/16/2025 | 250,000 | 249,979 | ||
GreatAmerica Leasing Receivables Funding LLC | ||||
0.27%, 06/15/2023 (a) | 8,972 | 8,944 | ||
Madison Park Funding XVIII Ltd. | ||||
(3-month USD LIBOR + 0.94%), | ||||
3.67%, 10/21/2030 (a) | 250,000 | 244,561 | ||
Navistar Financial Dealer Note Master Owner Trust II | ||||
(1-month Secured Overnight Financing Rate + 1.25%), | ||||
3.53%, 05/25/2027 (a) | 200,000 | 200,292 | ||
Santander Drive Auto Receivables Trust | ||||
3.98%, 01/15/2025 | 100,000 | 99,377 | ||
TCI-Flatiron CLO 2016-1 Ltd. | ||||
(3-month Term Secured Overnight Financing Rate + 1.10%), | ||||
3.58%, 01/17/2032 (a) | 250,000 | 244,630 | ||
Trafigura Securitisation Finance PLC 2021-1 | ||||
(1-month USD LIBOR + 0.53%), | ||||
3.35%, 01/15/2025 (a) | 250,000 | 241,591 | ||
Westlake Automobile Receivables Trust 2022-1 | ||||
1.97%, 12/16/2024 (a) | 179,204 | 177,553 | ||
Westlake Automobile Receivables Trust 2022-2 | ||||
(1-month Secured Overnight Financing Rate + 1.13%), | ||||
3.42%, 08/15/2025 (a) | 40,000 | 39,997 | ||
World Omni Select Auto Trust 2021-A | ||||
0.29%, 02/18/2025 | 38,212 | 38,034 | ||
$ | 1,823,105 | |||
Banks — 35.37% | ||||
Bank of America Corp. | ||||
(3-month USD LIBOR + 0.79%), | ||||
3.00%, 12/20/2023 (b) | 250,000 | 248,673 | ||
Bank of Montreal | ||||
(3-month Secured Overnight Financing Rate Index + 0.71%), | ||||
3.56%, 03/08/2024 | 200,000 | 199,396 | ||
Bank of New York Mellon Corp. | ||||
(3-month Secured Overnight Financing Rate + 0.26%), | ||||
2.73%, 04/26/2024 | 250,000 | 248,715 | ||
Citigroup, Inc. | ||||
3.50%, 05/15/2023 | 200,000 | 198,578 | ||
Citizens Bank NA | ||||
(6-month Secured Overnight Financing Rate + 1.40%), | ||||
4.12%, 05/23/2025 (b),(c) | 250,000 | 245,161 | ||
Credit Suisse AG | ||||
(3-month Secured Overnight Financing Rate Index + 0.38%), | ||||
3.00%, 08/09/2023 | 250,000 | 247,961 |
See accompanying notes.
60
Schedule of Investments | ||||
Principal Ultra-Short Active Income ETF | ||||
September 30, 2022 (unaudited) | ||||
Principal | ||||
BONDS (continued) | Amount | Value | ||
Banks (continued) | ||||
Goldman Sachs Group, Inc. | ||||
(3-month Secured Overnight Financing Rate + 0.54%), | ||||
3.23%, 11/17/2023 | $ | 250,000 | $ | 249,338 |
JPMorgan Chase & Co. | ||||
(3-month USD LIBOR + 1.23%), | ||||
4.01%, 10/24/2023 | 250,000 | 250,000 | ||
Morgan Stanley | ||||
(3-month USD LIBOR + 1.40%), | ||||
4.18%, 10/24/2023 | 250,000 | 250,005 | ||
MUFG Union Bank NA | ||||
(3-month Secured Overnight Financing Rate + 0.71%), | ||||
3.58%, 12/09/2022 | 300,000 | 299,901 | ||
Royal Bank of Canada | ||||
(3-month Secured Overnight Financing Rate Index + 0.36%), | ||||
2.90%, 07/29/2024 | 250,000 | 246,967 | ||
Toronto-Dominion Bank | ||||
(3-month Secured Overnight Financing Rate + 0.24%), | ||||
2.40%, 01/06/2023 | 200,000 | 199,794 | ||
Wells Fargo & Co. | ||||
(6-month Secured Overnight Financing Rate + 1.60%), | ||||
1.65%, 06/02/2024 (b),(c) | 100,000 | 97,651 | ||
$ | 2,982,140 | |||
Biotechnology — 2.14% | ||||
Gilead Sciences, Inc. | ||||
0.75%, 09/29/2023 | 188,000 | 180,437 | ||
Diversified Financial Services — 4.11% | ||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||||
(3-month Secured Overnight Financing Rate + 0.68%), | ||||
3.65%, 09/29/2023 | 150,000 | 146,810 | ||
American Express Co. | ||||
(3-month Secured Overnight Financing Rate Index + 0.72%), | ||||
3.31%, 05/03/2024 | 200,000 | 199,335 | ||
$ | 346,145 | |||
Electric — 10.31% | ||||
American Electric Power Co., Inc. | ||||
2.03%, 03/15/2024 | 200,000 | 191,413 | ||
Black Hills Corp. | ||||
1.04%, 08/23/2024 | 250,000 | 230,891 | ||
Dominion Energy, Inc. | ||||
(3-month USD LIBOR + 0.53%), | ||||
3.82%, 09/15/2023 | 150,000 | 149,300 | ||
Florida Power & Light Co. | ||||
(3-month Secured Overnight Financing Rate Index + 0.25%), | ||||
2.89%, 05/10/2023 | 100,000 | 99,695 | ||
NextEra Energy Capital Holdings, Inc. | ||||
(3-month Secured Overnight Financing Rate Index + 0.40%), | ||||
2.99%, 11/03/2023 | 200,000 | 198,159 | ||
$ | 869,458 | |||
Entertainment — 1.18% | ||||
Warnermedia Holdings, Inc. | ||||
(3-month Secured Overnight Financing Rate Index + 1.78%), | ||||
4.68%, 03/15/2024 (a) | 100,000 | 99,742 |
See accompanying notes.
61
Schedule of Investments | |||||||
Principal Ultra-Short Active Income ETF | |||||||
September 30, 2022 (unaudited) | |||||||
Principal | |||||||
BONDS (continued) | Amount | Value | |||||
Healthcare — Products — 2.84% | |||||||
PerkinElmer, Inc. | |||||||
0.55%, 09/15/2023 | $ | 250,000 | $ | 239,154 | |||
Oil & Gas — 2.86% | |||||||
ConocoPhillips Co. | |||||||
2.13%, 03/08/2024 | 250,000 | 241,354 | |||||
Pipelines — 2.97% | |||||||
Kinder Morgan, Inc. | |||||||
(3-month USD LIBOR + 1.28%), | |||||||
3.79%, 01/15/2023 | 250,000 | 250,226 | |||||
Telecommunications — 3.80% | |||||||
NTT Finance Corp. | |||||||
0.37%, 03/03/2023 (a) | 200,000 | 196,786 | |||||
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III | |||||||
LLC | |||||||
4.74%, 03/20/2025 (a) | 125,000 | 123,199 | |||||
$ | 319,985 | ||||||
TOTAL BONDS | $ | 7,351,746 | |||||
U.S. GOVERNMENT & GOVERNMENT AGENCY OBLIGATIONS — | |||||||
5.91 | % | ||||||
U.S. Treasury Notes — 5.91% | |||||||
2.13%, 12/31/2022 | $ | 500,000 | $ | 498,303 | |||
TOTAL U.S. GOVERNMENT & GOVERNMENT AGENCY OBLIGATIONS | $ | 498,303 | |||||
INVESTMENT COMPANIES — 6.95% | Shares Held | Value | |||||
Money Market Funds — 6.95% | |||||||
Principal Government Money Market Fund — Institutional Class 2.80% (d),(e),(f) | 39,260 | $ | 39,260 | ||||
State Street Institutional U.S. Government Money Market Fund — Institutional | |||||||
Class 0.80% (d) | 546,322 | 546,322 | |||||
$ | 585,582 | ||||||
TOTAL INVESTMENT COMPANIES | $ | 585,582 | |||||
Total Investments | $ | 8,435,631 | |||||
Other Assets and Liabilities — (0.07)% | (5,607 | ) | |||||
Total Net Assets — 100.00% | $ | 8,430,024 | |||||
(a) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in | ||||||
transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these | |||||||
securities totaled $1,855,442 or 22.01% of net assets. | |||||||
(b) | Rate shown is as of period end. The rate may be a variable or floating rate or a fixed rate which may convert to a variable or | ||||||
floating rate in the future. | |||||||
(c) | Security or a portion of the security was on loan. At the end of the period, the value of these securities totaled $38,466 or | ||||||
0.46% of net assets. | |||||||
(d) | Current yield shown is as of period end. | ||||||
(e) | Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate | ||||||
as defined by the Investment Company Act of 1940 (controls 5.00% or more of the outstanding voting shares of the security). | |||||||
Please see Affiliated Securities sub-schedule for transactional information. | |||||||
(f) | Security or a portion of the security was received as collateral for securities lending. At the end of the period, the value of | ||||||
these securities totaled $39,260 or 0.47% of net assets. |
See accompanying notes. 62
Schedule of Investments | ||||||||||
Principal Ultra-Short Active Income ETF | ||||||||||
September 30, 2022 (unaudited) | ||||||||||
Portfolio Summary (unaudited) | ||||||||||
Sector | Percent | |||||||||
Financial | 39.48 | % | ||||||||
Asset Backed Securities | 21.63 | % | ||||||||
Utilities | 10.31 | % | ||||||||
Money Market Funds | 6.95 | % | ||||||||
Government | 5.91 | % | ||||||||
Energy | 5.83 | % | ||||||||
Consumer, Non-cyclical | 4.98 | % | ||||||||
Communications | 3.80 | % | ||||||||
Consumer, Cyclical | 1.18 | % | ||||||||
Other Assets and Liabilities | (0.07 | )% | ||||||||
TOTAL NET ASSETS | 100.00 | % | ||||||||
June 30, 2022 | Purchases | Sales | September 30, 2022 | |||||||
Affiliated Securities | Value | Cost | Proceeds | Value | ||||||
Principal Government Money | ||||||||||
Market Fund — Institutional Class | ||||||||||
2.80 | % | $ | 66,468 | $ | 872,610 | $ | 899,818 | $ | 39,260 | |
$ | 66,468 | $ | 872,610 | $ | 899,818 | $ | 39,260 | |||
Realized Gain | ||||||||||
Realized | from | Change in | ||||||||
Gain/(Loss) on | Capital Gain | Unrealized | ||||||||
Income (a) | Investments | Distributions | Gain/(Loss) | |||||||
Principal Government Money | ||||||||||
Market Fund — Institutional Class | ||||||||||
2.80 | % | $ | — | $ | — | $ | — | $ | — | |
$ | — | $ | — | $ | — | $ | — | |||
(a) Amount excludes earnings from securities lending collateral. |
See accompanying notes.
63
Schedule of Investments | |||
Principal U.S. Large-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS — 99.64% | Shares Held | Value | |
Advertising — 0.14% | |||
Omnicom Group, Inc. | 120 | $ | 7,571 |
Aerospace & Defense — 1.99% | |||
General Dynamics Corp. | 56 | 11,881 | |
Howmet Aerospace, Inc. | 111 | 3,433 | |
L3Harris Technologies, Inc. | 72 | 14,964 | |
Lockheed Martin Corp. | 63 | 24,336 | |
Northrop Grumman Corp. | 44 | 20,694 | |
Raytheon Technologies Corp. | 258 | 21,120 | |
Teledyne Technologies, Inc. (a) | 21 | 7,087 | |
TransDigm Group, Inc. | 8 | 4,199 | |
$ | 107,714 | ||
Agriculture — 0.86% | |||
Altria Group, Inc. | 374 | 15,102 | |
Archer-Daniels-Midland Co. | 125 | 10,056 | |
Philip Morris International, Inc. | 259 | 21,500 | |
$ | 46,658 | ||
Airlines — 0.06% | |||
United Airlines Holdings, Inc. (a) | 99 | 3,221 | |
Apparel — 0.20% | |||
NIKE, Inc., Class B | 91 | 7,564 | |
Tapestry, Inc. | 108 | 3,070 | |
$ | 10,634 | ||
Auto Manufacturers — 2.69% | |||
Cummins, Inc. | 25 | 5,088 | |
Ford Motor Co. | 420 | 4,704 | |
PACCAR, Inc. | 118 | 9,875 | |
Tesla, Inc. (a) | 475 | 125,994 | |
$ | 145,661 | ||
Auto Parts & Equipment — 0.06% | |||
BorgWarner, Inc. | 96 | 3,014 | |
Banks — 2.82% | |||
Bank of New York Mellon Corp. | 126 | 4,854 | |
Comerica, Inc. | 46 | 3,271 | |
First Republic Bank | 27 | 3,525 | |
Goldman Sachs Group, Inc. | 34 | 9,964 | |
Huntington Bancshares, Inc. | 301 | 3,967 | |
JPMorgan Chase & Co. | 328 | 34,276 | |
KeyCorp | 223 | 3,572 | |
M&T Bank Corp. | 56 | 9,874 | |
Morgan Stanley | 232 | 18,330 | |
Northern Trust Corp. | 94 | 8,043 | |
PNC Financial Services Group, Inc. | 49 | 7,322 | |
Regions Financial Corp. | 190 | 3,813 | |
Signature Bank | 18 | 2,718 | |
Truist Financial Corp. | 421 | 18,330 | |
U.S. Bancorp | 167 | 6,733 | |
Wells Fargo & Co. | 273 | 10,980 | |
Zions Bancorp NA | 61 | 3,102 | |
$ | 152,674 | ||
Beverages — 2.66% | |||
Brown-Forman Corp., Class B | 157 | 10,452 |
See accompanying notes.
64
Schedule of Investments | |||
Principal U.S. Large-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Beverages (continued) | |||
Coca-Cola Co. | 841 | $ | 47,113 |
Constellation Brands, Inc., Class A | 46 | 10,565 | |
Keurig Dr Pepper, Inc. | 388 | 13,898 | |
Molson Coors Beverage Co., Class B | 71 | 3,407 | |
Monster Beverage Corp. (a) | 113 | 9,826 | |
PepsiCo, Inc. | 299 | 48,815 | |
$ | 144,076 | ||
Biotechnology — 1.73% | |||
Amgen, Inc. | 133 | 29,978 | |
Corteva, Inc. | 193 | 11,030 | |
Gilead Sciences, Inc. | 253 | 15,608 | |
Incyte Corp. (a) | 161 | 10,729 | |
Regeneron Pharmaceuticals, Inc. (a) | 19 | 13,089 | |
Vertex Pharmaceuticals, Inc. (a) | 47 | 13,608 | |
$ | 94,042 | ||
Chemicals — 1.37% | |||
Air Products and Chemicals, Inc. | 29 | 6,749 | |
Albemarle Corp. | 17 | 4,496 | |
CF Industries Holdings, Inc. | 77 | 7,411 | |
Dow, Inc. | 226 | 9,928 | |
DuPont de Nemours, Inc. | 84 | 4,234 | |
FMC Corp. | 36 | 3,805 | |
Linde PLC | 82 | 22,106 | |
LyondellBasell Industries NV, Class A | 53 | 3,990 | |
Mosaic Co. | 143 | 6,911 | |
Sherwin-Williams Co. | 24 | 4,914 | |
$ | 74,544 | ||
Commercial Services — 2.27% | |||
Automatic Data Processing, Inc. | 112 | 25,333 | |
Cintas Corp. | 37 | 14,363 | |
CoStar Group, Inc. (a) | 56 | 3,900 | |
Equifax, Inc. | 20 | 3,429 | |
FleetCor Technologies, Inc. (a) | 16 | 2,819 | |
Gartner, Inc. (a) | 12 | 3,320 | |
Global Payments, Inc. | 34 | 3,674 | |
MarketAxess Holdings, Inc. | 12 | 2,670 | |
Moody's Corp. | 40 | 9,724 | |
Nielsen Holdings PLC | 130 | 3,604 | |
PayPal Holdings, Inc. (a) | 88 | 7,574 | |
Quanta Services, Inc. | 30 | 3,822 | |
Robert Half International, Inc. | 38 | 2,907 | |
Rollins, Inc. | 180 | 6,242 | |
S&P Global, Inc. | 59 | 18,016 | |
United Rentals, Inc. (a) | 12 | 3,241 | |
Verisk Analytics, Inc. | 51 | 8,697 | |
$ | 123,335 | ||
Computers — 8.35% | |||
Accenture PLC, Class A | 100 | 25,730 | |
Apple, Inc. | 2,702 | 373,416 | |
Cognizant Technology Solutions Corp., Class A | 156 | 8,961 | |
EPAM Systems, Inc. (a) | 9 | 3,260 | |
Fortinet, Inc. (a) | 84 | 4,127 | |
Hewlett Packard Enterprise Co. | 305 | 3,654 | |
HP, Inc. | 161 | 4,012 |
See accompanying notes.
65
Schedule of Investments | |||
Principal U.S. Large-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Computers (continued) | |||
International Business Machines Corp. | 162 | $ | 19,247 |
Leidos Holdings, Inc. | 119 | 10,409 | |
$ | 452,816 | ||
Construction Materials — 0.44% | |||
Carrier Global Corp. | 109 | 3,876 | |
Fortune Brands Home & Security, Inc. | 48 | 2,577 | |
Martin Marietta Materials, Inc. | 27 | 8,696 | |
Vulcan Materials Co. | 56 | 8,832 | |
$ | 23,981 | ||
Distribution/Wholesale — 0.64% | |||
Copart, Inc. (a) | 34 | 3,617 | |
Fastenal Co. | 192 | 8,840 | |
LKQ Corp. | 142 | 6,695 | |
Pool Corp. | 10 | 3,182 | |
WW Grainger, Inc. | 25 | 12,230 | |
$ | 34,564 | ||
Diversified Financial Services — 3.06% | |||
Ameriprise Financial, Inc. | 15 | 3,779 | |
BlackRock, Inc. | 12 | 6,603 | |
Cboe Global Markets, Inc. | 66 | 7,746 | |
Charles Schwab Corp. | 116 | 8,337 | |
CME Group, Inc. | 110 | 19,484 | |
Franklin Resources, Inc. | 260 | 5,595 | |
Intercontinental Exchange, Inc. | 128 | 11,565 | |
Invesco Ltd. | 178 | 2,439 | |
Mastercard, Inc., Class A | 129 | 36,680 | |
Nasdaq, Inc. | 136 | 7,709 | |
Raymond James Financial, Inc. | 73 | 7,214 | |
T Rowe Price Group, Inc. | 34 | 3,570 | |
Visa, Inc., Class A | 253 | 44,946 | |
$ | 165,667 | ||
Electric — 4.70% | |||
AES Corp. | 154 | 3,480 | |
Alliant Energy Corp. | 189 | 10,015 | |
Ameren Corp. | 101 | 8,136 | |
American Electric Power Co., Inc. | 127 | 10,979 | |
CenterPoint Energy, Inc. | 276 | 7,778 | |
CMS Energy Corp. | 131 | 7,629 | |
Consolidated Edison, Inc. | 109 | 9,348 | |
Constellation Energy Corp. | 53 | 4,409 | |
Dominion Energy, Inc. | 182 | 12,578 | |
DTE Energy Co. | 73 | 8,399 | |
Duke Energy Corp. | 156 | 14,511 | |
Edison International | 141 | 7,978 | |
Entergy Corp. | 80 | 8,050 | |
Evergy, Inc. | 172 | 10,217 | |
Eversource Energy | 161 | 12,552 | |
Exelon Corp. | 270 | 10,114 | |
FirstEnergy Corp. | 221 | 8,177 | |
NextEra Energy, Inc. | 320 | 25,091 | |
NRG Energy, Inc. | 83 | 3,176 | |
Pinnacle West Capital Corp. | 100 | 6,451 | |
PPL Corp. | 310 | 7,859 | |
Public Service Enterprise Group, Inc. | 157 | 8,828 |
See accompanying notes.
66
Schedule of Investments | |||
Principal U.S. Large-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Electric (continued) | |||
Sempra Energy | 77 | $ | 11,545 |
Southern Co. | 214 | 14,552 | |
WEC Energy Group, Inc. | 102 | 9,122 | |
Xcel Energy, Inc. | 216 | 13,824 | |
$ | 254,798 | ||
Electrical Components & Equipment — 0.41% | |||
AMETEK, Inc. | 77 | 8,733 | |
Emerson Electric Co. | 147 | 10,763 | |
Generac Holdings, Inc. (a) | 16 | 2,850 | |
$ | 22,346 | ||
Electronics — 1.01% | |||
Agilent Technologies, Inc. | 35 | 4,254 | |
Allegion PLC | 75 | 6,726 | |
Amphenol Corp., Class A | 153 | 10,245 | |
Fortive Corp. | 145 | 8,454 | |
Garmin Ltd. | 37 | 2,972 | |
Honeywell International, Inc. | 66 | 11,020 | |
Keysight Technologies, Inc. (a) | 25 | 3,934 | |
Mettler-Toledo International, Inc. (a) | 3 | 3,252 | |
TE Connectivity Ltd. | 37 | 4,083 | |
$ | 54,940 | ||
Energy — Alternate Sources — 0.09% | |||
Enphase Energy, Inc. (a) | 17 | 4,717 | |
Engineering & Construction — 0.07% | |||
Jacobs Solutions, Inc. | 37 | 4,014 | |
Entertainment — 0.06% | |||
Live Nation Entertainment, Inc. (a) | 43 | 3,270 | |
Environmental Control — 0.60% | |||
Republic Services, Inc. | 98 | 13,332 | |
Waste Management, Inc. | 119 | 19,065 | |
$ | 32,397 | ||
Food — 2.80% | |||
Campbell Soup Co. | 220 | 10,366 | |
Conagra Brands, Inc. | 247 | 8,060 | |
General Mills, Inc. | 223 | 17,084 | |
Hershey Co. | 66 | 14,551 | |
Hormel Foods Corp. | 174 | 7,907 | |
J M Smucker Co. | 59 | 8,107 | |
Kellogg Co. | 169 | 11,773 | |
Kraft Heinz Co. | 281 | 9,371 | |
Kroger Co. | 187 | 8,181 | |
Lamb Weston Holdings, Inc. | 100 | 7,738 | |
McCormick & Co., Inc. | 111 | 7,911 | |
Mondelez International, Inc., Class A | 276 | 15,133 | |
Sysco Corp. | 203 | 14,354 | |
Tyson Foods, Inc., Class A | 174 | 11,472 | |
$ | 152,008 | ||
Gas — 0.26% | |||
Atmos Energy Corp. | 73 | 7,435 |
See accompanying notes.
67
Schedule of Investments | |||
Principal U.S. Large-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Gas (continued) | |||
NiSource, Inc. | 270 | $ | 6,801 |
$ | 14,236 | ||
Hand/Machine Tools — 0.19% | |||
Snap-on, Inc. | 50 | 10,068 | |
Healthcare — Products — 2.49% | |||
Abbott Laboratories | 273 | 26,415 | |
Align Technology, Inc. (a) | 14 | 2,900 | |
Bio-Techne Corp. | 10 | 2,840 | |
Boston Scientific Corp. (a) | 330 | 12,781 | |
Danaher Corp. | 44 | 11,365 | |
Edwards Lifesciences Corp. (a) | 60 | 4,958 | |
Henry Schein, Inc. (a) | 105 | 6,906 | |
Hologic, Inc. (a) | 66 | 4,258 | |
IDEXX Laboratories, Inc. (a) | 12 | 3,910 | |
Intuitive Surgical, Inc. (a) | 31 | 5,811 | |
Medtronic PLC | 131 | 10,578 | |
ResMed, Inc. | 44 | 9,605 | |
Stryker Corp. | 29 | 5,874 | |
Teleflex, Inc. | 13 | 2,619 | |
Thermo Fisher Scientific, Inc. | 26 | 13,187 | |
Waters Corp. (a) | 12 | 3,234 | |
West Pharmaceutical Services, Inc. | 13 | 3,199 | |
Zimmer Biomet Holdings, Inc. | 44 | 4,600 | |
$ | 135,040 | ||
Healthcare — Services — 3.34% | |||
Catalent, Inc. (a) | 37 | 2,677 | |
Centene Corp. (a) | 127 | 9,882 | |
Charles River Laboratories International, Inc. (a) | 15 | 2,952 | |
DaVita, Inc. (a) | 30 | 2,483 | |
Elevance Health, Inc. | 61 | 27,709 | |
HCA Healthcare, Inc. | 23 | 4,227 | |
Humana, Inc. | 40 | 19,408 | |
IQVIA Holdings, Inc. (a) | 22 | 3,985 | |
Laboratory Corp. of America Holdings | 37 | 7,578 | |
Molina Healthcare, Inc. (a) | 26 | 8,576 | |
Quest Diagnostics, Inc. | 60 | 7,361 | |
UnitedHealth Group, Inc. | 167 | 84,342 | |
$ | 181,180 | ||
Home Builders — 0.25% | |||
DR Horton, Inc. | 52 | 3,502 | |
Lennar Corp., Class A | 46 | 3,429 | |
NVR, Inc. (a) | 1 | 3,987 | |
PulteGroup, Inc. | 75 | 2,813 | |
$ | 13,731 | ||
Household Products — 1.30% | |||
Colgate-Palmolive Co. | 265 | 18,616 | |
Estee Lauder Cos., Inc., Class A | 23 | 4,966 | |
Procter & Gamble Co. | 373 | 47,091 | |
$ | 70,673 | ||
Household Products/Wares — 0.61% | |||
Avery Dennison Corp. | 19 | 3,091 | |
Church & Dwight Co., Inc. | 158 | 11,288 |
See accompanying notes.
68
Schedule of Investments | |||
Principal U.S. Large-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Household Products/Wares (continued) | |||
Clorox Co. | 28 | $ | 3,595 |
Kimberly-Clark Corp. | 132 | 14,855 | |
$ | 32,829 | ||
Insurance — 4.84% | |||
Aflac, Inc. | 178 | 10,003 | |
Allstate Corp. | 83 | 10,336 | |
American International Group, Inc. | 98 | 4,653 | |
Aon PLC, Class A | 47 | 12,590 | |
Arthur J Gallagher & Co. | 86 | 14,725 | |
Assurant, Inc. | 47 | 6,828 | |
Berkshire Hathaway, Inc., Class B (a) | 239 | 63,818 | |
Brown & Brown, Inc. | 185 | 11,189 | |
Chubb Ltd. | 85 | 15,460 | |
Everest Re Group Ltd. | 27 | 7,086 | |
Globe Life, Inc. | 102 | 10,169 | |
Hartford Financial Services Group, Inc. | 137 | 8,486 | |
Loews Corp. | 142 | 7,077 | |
Marsh & McLennan Cos., Inc. | 99 | 14,780 | |
MetLife, Inc. | 181 | 11,001 | |
Progressive Corp. | 124 | 14,410 | |
Prudential Financial, Inc. | 115 | 9,865 | |
Travelers Cos., Inc. | 69 | 10,571 | |
W R Berkley Corp. | 168 | 10,849 | |
Willis Towers Watson PLC | 41 | 8,238 | |
$ | 262,134 | ||
Internet — 8.27% | |||
Alphabet, Inc., Class A (a) | 1,074 | 102,728 | |
Alphabet, Inc., Class C (a) | 961 | 92,400 | |
Amazon.com, Inc. (a) | 1,586 | 179,218 | |
CDW Corp. | 50 | 7,804 | |
F5, Inc. (a) | 20 | 2,895 | |
Meta Platforms, Inc., Class A (a) | 406 | 55,086 | |
Netflix, Inc. (a) | 34 | 8,005 | |
$ | 448,136 | ||
Iron & Steel — 0.15% | |||
Nucor Corp. | 75 | 8,024 | |
Lodging — 0.16% | |||
Las Vegas Sands Corp. (a) | 97 | 3,639 | |
Marriott International, Inc., Class A | 35 | 4,905 | |
$ | 8,544 | ||
Machinery — Diversified — 0.91% | |||
Deere & Co. | 22 | 7,345 | |
Dover Corp. | 65 | 7,578 | |
IDEX Corp. | 56 | 11,192 | |
Nordson Corp. | 33 | 7,005 | |
Otis Worldwide Corp. | 146 | 9,315 | |
Westinghouse Air Brake Technologies Corp. | 84 | 6,833 | |
$ | 49,268 | ||
Media — 0.67% | |||
Charter Communications, Inc., Class A (a) | 12 | 3,640 | |
Comcast Corp., Class A | 307 | 9,004 | |
FactSet Research Systems, Inc. | 26 | 10,403 |
See accompanying notes.
69
�� | Schedule of Investments | ||
Principal U.S. Large-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Media (continued) | |||
Fox Corp., Class A | 226 | $ | 6,934 |
Fox Corp., Class B | 220 | 6,270 | |
$ | 36,251 | ||
Miscellaneous Manufacturers — 0.70% | |||
3M Co. | 118 | 13,039 | |
A O Smith Corp. | 55 | 2,672 | |
Eaton Corp. PLC | 52 | 6,935 | |
Illinois Tool Works, Inc. | 37 | 6,684 | |
Textron, Inc. | 60 | 3,495 | |
Trane Technologies PLC | 37 | 5,358 | |
$ | 38,183 | ||
Oil & Gas — 3.50% | |||
APA Corp. | 93 | 3,180 | |
Chevron Corp. | 321 | 46,118 | |
ConocoPhillips | 95 | 9,722 | |
Coterra Energy, Inc. | 278 | 7,261 | |
Devon Energy Corp. | 81 | 4,871 | |
Diamondback Energy, Inc. | 61 | 7,348 | |
EOG Resources, Inc. | 57 | 6,369 | |
Exxon Mobil Corp. | 743 | 64,871 | |
Hess Corp. | 40 | 4,360 | |
Marathon Oil Corp. | 153 | 3,455 | |
Marathon Petroleum Corp. | 59 | 5,860 | |
Occidental Petroleum Corp. | 87 | 5,346 | |
Phillips 66 | 64 | 5,166 | |
Pioneer Natural Resources Co. | 49 | 10,610 | |
Valero Energy Corp. | 50 | 5,342 | |
$ | 189,879 | ||
Oil & Gas Services — 0.25% | |||
Baker Hughes Co. | 183 | 3,836 | |
Halliburton Co. | 157 | 3,865 | |
Schlumberger NV | 156 | 5,600 | |
$ | 13,301 | ||
Packaging & Containers — 0.48% | |||
Amcor PLC | 1,021 | 10,955 | |
Ball Corp. | 60 | 2,899 | |
Packaging Corp. of America | 57 | 6,401 | |
Sealed Air Corp. | 129 | 5,742 | |
$ | 25,997 | ||
Pharmaceuticals — 8.10% | |||
AbbVie, Inc. | 376 | 50,463 | |
AmerisourceBergen Corp. | 90 | 12,180 | |
Becton Dickinson and Co. | 60 | 13,370 | |
Bristol-Myers Squibb Co. | 503 | 35,758 | |
Cardinal Health, Inc. | 128 | 8,535 | |
Cigna Corp. | 85 | 23,585 | |
CVS Health Corp. | 226 | 21,554 | |
Eli Lilly & Co. | 169 | 54,646 | |
Johnson & Johnson | 521 | 85,111 | |
McKesson Corp. | 51 | 17,333 | |
Merck & Co., Inc. | 552 | 47,538 | |
Organon & Co. | 132 | 3,089 |
See accompanying notes.
70
Schedule of Investments | |||
Principal U.S. Large-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Pharmaceuticals (continued) | |||
Pfizer, Inc. | 1,191 | $ | 52,118 |
Zoetis, Inc. | 95 | 14,087 | |
$ | 439,367 | ||
Pipelines — 0.44% | |||
Kinder Morgan, Inc. | 601 | 10,001 | |
ONEOK, Inc. | 75 | 3,843 | |
Williams Cos., Inc. | 351 | 10,049 | |
$ | 23,893 | ||
Real Estate — 0.14% | |||
CBRE Group, Inc., Class A (a) | 115 | 7,764 | |
REITs — 3.90% | |||
Alexandria Real Estate Equities, Inc. | 32 | 4,486 | |
American Tower Corp. | 81 | 17,391 | |
AvalonBay Communities, Inc. | 49 | 9,025 | |
Boston Properties, Inc. | 49 | 3,673 | |
Camden Property Trust | 58 | 6,928 | |
Crown Castle, Inc. | 89 | 12,865 | |
Digital Realty Trust, Inc. | 37 | 3,670 | |
Duke Realty Corp. | 78 | 3,760 | |
Equity Residential | 129 | 8,671 | |
Essex Property Trust, Inc. | 17 | 4,118 | |
Extra Space Storage, Inc. | 72 | 12,435 | |
Federal Realty Investment Trust | 72 | 6,489 | |
Healthpeak Properties, Inc. | 165 | 3,782 | |
Host Hotels & Resorts, Inc. | 211 | 3,351 | |
Invitation Homes, Inc. | 129 | 4,356 | |
Iron Mountain, Inc. | 131 | 5,760 | |
Kimco Realty Corp. | 382 | 7,033 | |
Mid-America Apartment Communities, Inc. | 49 | 7,598 | |
Prologis, Inc. | 61 | 6,198 | |
Public Storage | 56 | 16,397 | |
Realty Income Corp. | 247 | 14,375 | |
Regency Centers Corp. | 126 | 6,785 | |
SBA Communications Corp. | 14 | 3,985 | |
Simon Property Group, Inc. | 48 | 4,308 | |
UDR, Inc. | 94 | 3,921 | |
Ventas, Inc. | 181 | 7,271 | |
VICI Properties, Inc. | 309 | 9,224 | |
Welltower, Inc. | 78 | 5,017 | |
Weyerhaeuser Co. | 298 | 8,511 | |
$ | 211,383 | ||
Retail — 4.59% | |||
Advance Auto Parts, Inc. | 22 | 3,440 | |
AutoZone, Inc. (a) | 8 | 17,135 | |
Chipotle Mexican Grill, Inc. (a) | 3 | 4,508 | |
Costco Wholesale Corp. | 58 | 27,392 | |
Darden Restaurants, Inc. | 26 | 3,284 | |
Dollar General Corp. | 76 | 18,229 | |
Dollar Tree, Inc. (a) | 33 | 4,491 | |
Domino's Pizza, Inc. | 21 | 6,514 | |
Genuine Parts Co. | 82 | 12,244 | |
Home Depot, Inc. | 157 | 43,323 | |
Lowe's Cos., Inc. | 47 | 8,827 | |
McDonald's Corp. | 117 | 26,997 |
See accompanying notes.
71
Schedule of Investments | |||
Principal U.S. Large-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Retail (continued) | |||
O'Reilly Automotive, Inc. (a) | 24 | $ | 16,880 |
Target Corp. | 40 | 5,936 | |
Tractor Supply Co. | 19 | 3,532 | |
Ulta Beauty, Inc. (a) | 19 | 7,623 | |
Walgreens Boots Alliance, Inc. | 146 | 4,584 | |
Walmart, Inc. | 221 | 28,664 | |
Yum! Brands, Inc. | 48 | 5,104 | |
$ | 248,707 | ||
Semiconductors — 2.22% | |||
Applied Materials, Inc. | 74 | 6,063 | |
Broadcom, Inc. | 26 | 11,544 | |
KLA Corp. | 15 | 4,540 | |
Lam Research Corp. | 13 | 4,758 | |
Microchip Technology, Inc. | 67 | 4,089 | |
Monolithic Power Systems, Inc. | 8 | 2,907 | |
NVIDIA Corp. | 446 | 54,140 | |
ON Semiconductor Corp. (a) | 127 | 7,916 | |
QUALCOMM, Inc. | 80 | 9,038 | |
Skyworks Solutions, Inc. | 33 | 2,814 | |
Teradyne, Inc. | 38 | 2,856 | |
Texas Instruments, Inc. | 64 | 9,906 | |
$ | 120,571 | ||
Shipbuilding — 0.13% | |||
Huntington Ingalls Industries, Inc. | 32 | 7,088 | |
Software — 8.46% | |||
Activision Blizzard, Inc. | 172 | 12,787 | |
Adobe, Inc. (a) | 33 | 9,082 | |
Akamai Technologies, Inc. (a) | 85 | 6,827 | |
ANSYS, Inc. (a) | 15 | 3,326 | |
Broadridge Financial Solutions, Inc. | 75 | 10,824 | |
Cadence Design Systems, Inc. (a) | 30 | 4,903 | |
Citrix Systems, Inc. (a) | 77 | 8,000 | |
Electronic Arts, Inc. | 45 | 5,207 | |
Fidelity National Information Services, Inc. | 62 | 4,685 | |
Fiserv, Inc. (a) | 199 | 18,620 | |
Intuit, Inc. | 21 | 8,134 | |
Jack Henry & Associates, Inc. | 59 | 10,754 | |
Microsoft Corp. | 1,334 | 310,689 | |
MSCI, Inc. | 10 | 4,218 | |
Oracle Corp. | 155 | 9,466 | |
Paychex, Inc. | 130 | 14,587 | |
Paycom Software, Inc. (a) | 10 | 3,300 | |
PTC, Inc. (a) | 27 | 2,824 | |
Roper Technologies, Inc. | 16 | 5,754 | |
Synopsys, Inc. (a) | 16 | 4,888 | |
$ | 458,875 | ||
Telecommunications — 2.14% | |||
Arista Networks, Inc. (a) | 74 | 8,354 | |
AT&T, Inc. | 1,266 | 19,421 | |
Cisco Systems, Inc. | 648 | 25,920 | |
Corning, Inc. | 118 | 3,424 | |
Juniper Networks, Inc. | 269 | 7,026 | |
Motorola Solutions, Inc. | 47 | 10,527 | |
T-Mobile U.S., Inc. (a) | 120 | 16,100 |
See accompanying notes.
72
Schedule of Investments | |||||
Principal U.S. Large-Cap Adaptive Multi-Factor ETF | |||||
September 30, 2022 (unaudited) | |||||
COMMON STOCKS (continued) | Shares Held | Value | |||
Telecommunications (continued) | |||||
Verizon Communications, Inc. | 662 | $ | 25,136 | ||
$ | 115,908 | ||||
Toys, Games & Hobbies — 0.11% | |||||
Hasbro, Inc. | 92 | 6,203 | |||
Transportation — 1.81% | |||||
CH Robinson Worldwide, Inc. | 67 | 6,453 | |||
CSX Corp. | 481 | 12,814 | |||
Expeditors International of Washington, Inc. | 35 | 3,091 | |||
JB Hunt Transport Services, Inc. | 42 | 6,570 | |||
Norfolk Southern Corp. | 31 | 6,499 | |||
Old Dominion Freight Line, Inc. | 15 | 3,732 | |||
Union Pacific Corp. | 153 | 29,807 | |||
United Parcel Service, Inc., Class B | 180 | 29,077 | |||
$ | 98,043 | ||||
Water — 0.15% | |||||
American Water Works Co., Inc. | 61 | 7,940 | |||
TOTAL COMMON STOCKS | $ | 5,401,878 | |||
INVESTMENT COMPANIES — 0.28% | Shares Held | Value | |||
Money Market Fund — 0.28% | |||||
State Street Institutional U.S. Government Money Market Fund — Institutional | |||||
Class 0.80% (b) | 15,201 | 15,201 | |||
TOTAL INVESTMENT COMPANIES | $ | 15,201 | |||
Total Investments | $ | 5,417,079 | |||
Other Assets and Liabilities — 0.08% | 4,496 | ||||
Total Net Assets — 100.00% | $ | 5,421,575 | |||
(a) | Non-income producing security. | ||||
(b) | Current yield shown is as of period end. | ||||
Portfolio Summary (unaudited) | |||||
Sector | Percent | ||||
Consumer, Non-cyclical | 26.18 | % | |||
Technology | 19.04 | % | |||
Financial | 14.75 | % | |||
Communications | 11.21 | % | |||
Consumer, Cyclical | 8.81 | % | |||
Industrial | 8.74 | % | |||
Utilities | 5.11 | % | |||
Energy | 4.28 | % | |||
Basic Materials | 1.52 | % | |||
Money Market Fund | 0.28 | % | |||
Other Assets and Liabilities | 0.08 | % | |||
TOTAL NET ASSETS | 100.00 | % |
See accompanying notes. 73
Schedule of Investments | ||||
Principal U.S. Mega-Cap ETF | ||||
September 30, 2022 (unaudited) | ||||
COMMON STOCKS — 99.66% | Shares Held | Value | ||
Auto Manufacturers — 2.91% | ||||
Tesla, Inc. (a) | 109,717 | $ | 29,102,434 | |
Banks — 6.41% | ||||
Bank of America Corp. | 710,992 | 21,471,958 | ||
JPMorgan Chase & Co. | 287,870 | 30,082,415 | ||
Wells Fargo & Co. | 311,636 | 12,534,000 | ||
$ | 64,088,373 | |||
Beverages — 3.66% | ||||
Coca-Cola Co. | 406,737 | 22,785,407 | ||
PepsiCo, Inc. | 84,652 | 13,820,285 | ||
$ | 36,605,692 | |||
Chemicals — 2.08% | ||||
Linde PLC | 77,174 | 20,805,339 | ||
Computers — 9.40% | ||||
Accenture PLC, Class A | 84,377 | 21,710,202 | ||
Apple, Inc. | 523,455 | 72,341,481 | ||
$ | 94,051,683 | |||
Diversified Financial Services — 6.10% | ||||
Mastercard, Inc., Class A | 104,715 | 29,774,663 | ||
Visa, Inc., Class A | 176,201 | 31,302,108 | ||
$ | 61,076,771 | |||
Healthcare — Products — 8.08% | ||||
Abbott Laboratories | 219,681 | 21,256,334 | ||
Danaher Corp. | 140,257 | 36,226,980 | ||
Thermo Fisher Scientific, Inc. | 46,105 | 23,383,995 | ||
$ | 80,867,309 | |||
Healthcare — Services — 2.66% | ||||
UnitedHealth Group, Inc. | 52,761 | 26,646,416 | ||
Household Products — 2.21% | ||||
Procter & Gamble Co. | 175,544 | 22,162,430 | ||
Insurance — 2.20% | ||||
Berkshire Hathaway, Inc., Class B (a) | 82,358 | 21,991,233 | ||
Internet — 8.15% | ||||
Alphabet, Inc., Class A (a) | 326,718 | 31,250,577 | ||
Amazon.com, Inc. (a) | 209,589 | 23,683,557 | ||
Meta Platforms, Inc., Class A (a) | 196,401 | 26,647,687 | ||
$ | 81,581,821 | |||
Media — 2.96% | ||||
Comcast Corp., Class A | 596,418 | 17,492,940 | ||
Walt Disney Co. (a) | 128,293 | 12,101,879 | ||
$ | 29,594,819 | |||
Oil & Gas — 4.35% | ||||
Chevron Corp. | 144,881 | 20,815,053 | ||
Exxon Mobil Corp. | 259,671 | 22,671,875 | ||
$ | 43,486,928 | |||
Pharmaceuticals — 11.73% | ||||
AbbVie, Inc. | 174,041 | 23,358,043 |
See accompanying notes.
74
Schedule of Investments | ||||
Principal U.S. Mega-Cap ETF | ||||
September 30, 2022 (unaudited) | ||||
COMMON STOCKS (continued) | Shares Held | Value | ||
Pharmaceuticals (continued) | ||||
Eli Lilly & Co. | 46,306 | $ | 14,973,045 | |
Johnson & Johnson | 145,209 | 23,721,342 | ||
Merck & Co., Inc. | 284,915 | 24,536,880 | ||
Pfizer, Inc. | 704,308 | 30,820,518 | ||
$ | 117,409,828 | |||
Retail — 6.55% | ||||
Costco Wholesale Corp. | 54,027 | 25,515,331 | ||
Home Depot, Inc. | 45,759 | 12,626,738 | ||
McDonald's Corp. | 56,225 | 12,973,357 | ||
Walmart, Inc. | 111,330 | 14,439,501 | ||
$ | 65,554,927 | |||
Semiconductors — 7.52% | ||||
Advanced Micro Devices, Inc. (a) | 352,485 | 22,333,450 | ||
Broadcom, Inc. | 45,677 | 20,281,045 | ||
Intel Corp. | 321,724 | 8,290,827 | ||
NVIDIA Corp. | 200,156 | 24,296,937 | ||
$ | 75,202,259 | |||
Software — 9.37% | ||||
Adobe, Inc. (a) | 87,186 | 23,993,587 | ||
Microsoft Corp. | 253,055 | 58,936,510 | ||
salesforce, Inc. (a) | 75,455 | 10,853,447 | ||
$ | 93,783,544 | |||
Telecommunications — 3.32% | ||||
Cisco Systems, Inc. | 568,637 | 22,745,480 | ||
Verizon Communications, Inc. | 274,690 | 10,429,979 | ||
$ | 33,175,459 | |||
TOTAL COMMON STOCKS | $ | 997,187,265 | ||
INVESTMENT COMPANIES — 0.29% | Shares Held | Value | ||
Money Market Fund — 0.29% | ||||
State Street Institutional U.S. Government Money Market Fund — Institutional | ||||
Class 0.80% (b) | 2,867,394 | $ | 2,867,394 | |
TOTAL INVESTMENT COMPANIES | $ | 2,867,394 | ||
Total Investments | $ | 1,000,054,659 | ||
Other Assets and Liabilities — 0.05% | 548,396 | |||
Total Net Assets — 100.00% | $ | 1,000,603,055 | ||
(a) | Non-income producing security. | |||
(b) | Current yield shown is as of period end. |
See accompanying notes. 75
Schedule of Investments Principal U.S. Mega-Cap ETF September 30, 2022 (unaudited)
Portfolio Summary (unaudited)
Sector | Percent | |
Consumer, Non-cyclical | 28.35 | % |
Technology | 26.29 | % |
Financial | 14.71 | % |
Communications | 14.43 | % |
Consumer, Cyclical | 9.46 | % |
Energy | 4.34 | % |
Basic Materials | 2.08 | % |
Money Market Fund | 0.29 | % |
Other Assets and Liabilities | 0.05 | % |
TOTAL NET ASSETS | 100.00 | % |
See accompanying notes.
76
Schedule of Investments | |||
Principal U.S. Small-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS — 99.64% | Shares Held | Value | |
Aerospace & Defense — 1.81% | |||
AAR Corp. (a) | 323 | $ | 11,570 |
Aerojet Rocketdyne Holdings, Inc. (a) | 694 | 27,753 | |
AeroVironment, Inc. (a) | 78 | 6,502 | |
Barnes Group, Inc. | 259 | 7,480 | |
Kaman Corp. | 345 | 9,636 | |
Moog, Inc., Class A | 312 | 21,949 | |
National Presto Industries, Inc. | 122 | 7,936 | |
$ | 92,826 | ||
Agriculture — 0.80% | |||
Andersons, Inc. | 291 | 9,030 | |
Fresh Del Monte Produce, Inc. | 402 | 9,342 | |
Universal Corp. | 244 | 11,234 | |
Vector Group Ltd. | 1,293 | 11,391 | |
$ | 40,997 | ||
Apparel — 0.33% | |||
Oxford Industries, Inc. | 121 | 10,863 | |
Steven Madden Ltd. | 228 | 6,081 | |
$ | 16,944 | ||
Auto Manufacturers — 0.09% | |||
Wabash National Corp. | 285 | 4,435 | |
Auto Parts & Equipment — 1.34% | |||
American Axle & Manufacturing Holdings, Inc. (a) | 559 | 3,818 | |
Dorman Products, Inc. (a) | 290 | 23,815 | |
Methode Electronics, Inc. | 329 | 12,222 | |
Motorcar Parts of America, Inc. (a) | 243 | 3,698 | |
Standard Motor Products, Inc. | 387 | 12,578 | |
Titan International, Inc. (a) | 617 | 7,490 | |
XPEL, Inc. (a) | 77 | 4,962 | |
$ | 68,583 | ||
Banks — 16.03% | |||
Allegiance Bancshares, Inc. | 329 | 13,696 | |
Ameris Bancorp | 612 | 27,363 | |
BancFirst Corp. | 208 | 18,610 | |
Bancorp, Inc. (a) | 217 | 4,770 | |
BankUnited, Inc. | 295 | 10,080 | |
Banner Corp. | 366 | 21,623 | |
Central Pacific Financial Corp. | 587 | 12,145 | |
City Holding Co. | 204 | 18,093 | |
Columbia Banking System, Inc. | 816 | 23,574 | |
Community Bank System, Inc. | 341 | 20,487 | |
Customers Bancorp, Inc. (a) | 137 | 4,039 | |
CVB Financial Corp. | 1,196 | 30,283 | |
Dime Community Bancshares, Inc. | 502 | 14,699 | |
Eagle Bancorp, Inc. | 275 | 12,326 | |
FB Financial Corp. | 465 | 17,768 | |
First BanCorp | 1,858 | 25,417 | |
First Bancorp/Southern Pines NC | 321 | 11,742 | |
First Commonwealth Financial Corp. | 1,267 | 16,268 | |
First Financial Bancorp | 1,039 | 21,902 | |
First Hawaiian, Inc. | 821 | 20,221 | |
Flagstar Bancorp, Inc. | 404 | 13,494 | |
Hanmi Financial Corp. | 568 | 13,450 | |
Heritage Financial Corp. | 558 | 14,770 |
See accompanying notes.
77
Schedule of Investments | |||
Principal U.S. Small-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Banks (continued) | |||
Hilltop Holdings, Inc. | 255 | $ | 6,337 |
HomeStreet, Inc. | 153 | 4,408 | |
Hope Bancorp, Inc. | 1,388 | 17,544 | |
Independent Bank Corp. | 411 | 30,632 | |
Independent Bank Group, Inc. | 364 | 22,346 | |
Lakeland Financial Corp. | 284 | 20,678 | |
National Bank Holdings Corp., Class A | 305 | 11,282 | |
NBT Bancorp, Inc. | 504 | 19,127 | |
OFG Bancorp | 638 | 16,033 | |
Park National Corp. | 165 | 20,539 | |
Pathward Financial, Inc. | 134 | 4,417 | |
Preferred Bank | 221 | 14,416 | |
Renasant Corp. | 641 | 20,050 | |
S&T Bancorp, Inc. | 545 | 15,974 | |
Seacoast Banking Corp. of Florida | 688 | 20,798 | |
ServisFirst Bancshares, Inc. | 424 | 33,920 | |
Simmons First National Corp., Class A | 848 | 18,478 | |
Southside Bancshares, Inc. | 434 | 15,346 | |
Tompkins Financial Corp. | 208 | 15,105 | |
Triumph Bancorp, Inc. (a) | 86 | 4,674 | |
TrustCo Bank Corp. | 281 | 8,829 | |
Trustmark Corp. | 477 | 14,611 | |
United Community Banks, Inc. | 955 | 31,610 | |
Veritex Holdings, Inc. | 446 | 11,859 | |
Walker & Dunlop, Inc. | 202 | 16,913 | |
Westamerica BanCorp | 347 | 18,145 | |
$ | 820,891 | ||
Beverages — 0.57% | |||
MGP Ingredients, Inc. | 184 | 19,534 | |
National Beverage Corp. | 250 | 9,635 | |
$ | 29,169 | ||
Biotechnology — 1.00% | |||
ANI Pharmaceuticals, Inc. (a) | 108 | 3,471 | |
Cytokinetics, Inc. (a) | 599 | 29,022 | |
Dynavax Technologies Corp. (a) | 446 | 4,656 | |
Innoviva, Inc. (a) | 778 | 9,033 | |
Vir Biotechnology, Inc. (a) | 269 | 5,186 | |
$ | 51,368 | ||
Building Materials — 0.35% | |||
SPX Technologies, Inc. (a) | 327 | 18,057 | |
Chemicals — 3.33% | |||
AdvanSix, Inc. | 271 | 8,699 | |
American Vanguard Corp. | 389 | 7,274 | |
Balchem Corp. | 193 | 23,465 | |
Hawkins, Inc. | 362 | 14,114 | |
HB Fuller Co. | 496 | 29,810 | |
Innospec, Inc. | 266 | 22,788 | |
Koppers Holdings, Inc. | 159 | 3,304 | |
Minerals Technologies, Inc. | 265 | 13,094 | |
Quaker Chemical Corp. | 43 | 6,208 | |
Rogers Corp. (a) | 110 | 26,607 | |
Stepan Co. | 162 | 15,175 | |
$ | 170,538 |
See accompanying notes.
78
Schedule of Investments | |||
Principal U.S. Small-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Coal — 0.43% | |||
CONSOL Energy, Inc. | 111 | $ | 7,139 |
SunCoke Energy, Inc. | 643 | 3,736 | |
Warrior Met Coal, Inc. | 391 | 11,120 | |
$ | 21,995 | ||
Commercial Services — 4.29% | |||
ABM Industries, Inc. | 661 | 25,270 | |
Adtalem Global Education, Inc. (a) | 377 | 13,742 | |
Alarm.com Holdings, Inc. (a) | 319 | 20,690 | |
AMN Healthcare Services, Inc. (a) | 107 | 11,338 | |
CoreCivic, Inc. (a) | 528 | 4,667 | |
CorVel Corp. (a) | 82 | 11,351 | |
Cross Country Healthcare, Inc. (a) | 325 | 9,220 | |
EVERTEC, Inc. | 478 | 14,985 | |
Forrester Research, Inc. (a) | 214 | 7,706 | |
Green Dot Corp., Class A (a) | 214 | 4,062 | |
Heidrick & Struggles International, Inc. | 321 | 8,343 | |
Kelly Services, Inc., Class A | 270 | 3,669 | |
Korn Ferry | 368 | 17,278 | |
Medifast, Inc. | 41 | 4,443 | |
Monro, Inc. | 293 | 12,734 | |
Perdoceo Education Corp. (a) | 921 | 9,486 | |
Resources Connection, Inc. | 688 | 12,432 | |
Strategic Education, Inc. | 203 | 12,466 | |
Stride, Inc. (a) | 290 | 12,189 | |
Viad Corp. (a) | 120 | 3,790 | |
$ | 219,861 | ||
Computers — 1.48% | |||
ExlService Holdings, Inc. (a) | 264 | 38,903 | |
Insight Enterprises, Inc. (a) | 209 | 17,224 | |
NetScout Systems, Inc. (a) | 502 | 15,722 | |
TTEC Holdings, Inc. | 87 | 3,855 | |
$ | 75,704 | ||
Construction Materials — 2.17% | |||
AAON, Inc. | 302 | 16,272 | |
Apogee Enterprises, Inc. | 265 | 10,128 | |
Boise Cascade Co. | 243 | 14,449 | |
Gibraltar Industries, Inc. (a) | 120 | 4,911 | |
Griffon Corp. | 352 | 10,391 | |
PGT Innovations, Inc. (a) | 833 | 17,460 | |
UFP Industries, Inc. | 520 | 37,523 | |
$ | 111,134 | ||
Distribution/Wholesale — 0.50% | |||
KAR Auction Services, Inc. (a) | 456 | 5,093 | |
Resideo Technologies, Inc. (a) | 402 | 7,662 | |
ScanSource, Inc. (a) | 295 | 7,791 | |
Veritiv Corp. (a) | 53 | 5,182 | |
$ | 25,728 | ||
Diversified Financial Services — 2.16% | |||
Blucora, Inc. (a) | 555 | 10,734 | |
Brightsphere Investment Group, Inc. | 516 | 7,694 | |
Encore Capital Group, Inc. (a) | 202 | 9,187 | |
Enova International, Inc. (a) | 151 | 4,420 |
See accompanying notes.
79
Schedule of Investments | |||
Principal U.S. Small-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Diversified Financial Services (continued) | |||
EZCORP, Inc., Class A (a) | 1,059 | $ | 8,165 |
LendingTree, Inc. (a) | 99 | 2,362 | |
Mr Cooper Group, Inc. (a) | 459 | 18,589 | |
Piper Sandler Cos. | 120 | 12,569 | |
PRA Group, Inc. (a) | 347 | 11,402 | |
StoneX Group, Inc. (a) | 156 | 12,939 | |
Virtus Investment Partners, Inc. | 27 | 4,307 | |
WisdomTree Investments, Inc. | 1,749 | 8,185 | |
$ | 110,553 | ||
Electric — 0.63% | |||
Avista Corp. | 496 | 18,377 | |
Unitil Corp. | 295 | 13,703 | |
$ | 32,080 | ||
Electrical Components & Equipment — 0.40% | |||
Encore Wire Corp. | 120 | 13,865 | |
Insteel Industries, Inc. | 130 | 3,449 | |
Powell Industries, Inc. | 146 | 3,077 | |
$ | 20,391 | ||
Electronics — 2.55% | |||
Advanced Energy Industries, Inc. | 102 | 7,896 | |
Badger Meter, Inc. | 201 | 18,570 | |
Benchmark Electronics, Inc. | 581 | 14,397 | |
Brady Corp., Class A | 349 | 14,564 | |
CTS Corp. | 296 | 12,328 | |
Knowles Corp. (a) | 509 | 6,195 | |
OSI Systems, Inc. (a) | 223 | 16,069 | |
Plexus Corp. (a) | 191 | 16,724 | |
Sanmina Corp. (a) | 405 | 18,663 | |
TTM Technologies, Inc. (a) | 400 | 5,272 | |
$ | 130,678 | ||
Energy — Alternate Sources — 0.20% | |||
FutureFuel Corp. | 511 | 3,086 | |
REX American Resources Corp. (a) | 255 | 7,120 | |
$ | 10,206 | ||
Engineering & Construction — 2.49% | |||
Arcosa, Inc. | 476 | 27,218 | |
Comfort Systems USA, Inc. | 323 | 31,438 | |
Exponent, Inc. | 299 | 26,213 | |
Frontdoor, Inc. (a) | 268 | 5,464 | |
Granite Construction, Inc. | 244 | 6,195 | |
MYR Group, Inc. (a) | 145 | 12,286 | |
NV5 Global, Inc. (a) | 151 | 18,697 | |
$ | 127,511 | ||
Entertainment — 0.18% | |||
Cinemark Holdings, Inc. (a) | 421 | 5,098 | |
Monarch Casino & Resort, Inc. (a) | 69 | 3,874 | |
$ | 8,972 | ||
Food — 3.20% | |||
B&G Foods, Inc. | 374 | 6,167 | |
Cal-Maine Foods, Inc. | 290 | 16,121 |
See accompanying notes.
80
Schedule of Investments | |||
Principal U.S. Small-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Food (continued) | |||
Calavo Growers, Inc. | 118 | $ | 3,746 |
Chefs' Warehouse, Inc. (a) | 151 | 4,374 | |
Hostess Brands, Inc. (a) | 1,262 | 29,329 | |
J & J Snack Foods Corp. | 116 | 15,019 | |
John B Sanfilippo & Son, Inc. | 70 | 5,301 | |
Seneca Foods Corp., Class A (a) | 70 | 3,531 | |
Simply Good Foods Co. (a) | 601 | 19,226 | |
SpartanNash Co. | 543 | 15,758 | |
Tootsie Roll Industries, Inc. | 274 | 9,119 | |
TreeHouse Foods, Inc. (a) | 371 | 15,738 | |
United Natural Foods, Inc. (a) | 598 | 20,553 | |
$ | 163,982 | ||
Forest Products & Paper — 0.31% | |||
Clearwater Paper Corp. (a) | 107 | 4,023 | |
Mercer International, Inc. | 565 | 6,949 | |
Sylvamo Corp. | 144 | 4,882 | |
$ | 15,854 | ||
Gas — 1.34% | |||
Chesapeake Utilities Corp. | 130 | 15,001 | |
Northwest Natural Holding Co. | 422 | 18,306 | |
South Jersey Industries, Inc. | 1,057 | 35,325 | |
$ | 68,632 | ||
Hand/Machine Tools — 0.62% | |||
Enerpac Tool Group Corp. | 639 | 11,394 | |
Franklin Electric Co., Inc. | 251 | 20,509 | |
$ | 31,903 | ||
Healthcare — Products — 2.34% | |||
Artivion, Inc. (a) | 216 | 2,990 | |
Avanos Medical, Inc. (a) | 490 | 10,672 | |
Cutera, Inc. (a) | 95 | 4,332 | |
Glaukos Corp. (a) | 140 | 7,454 | |
Integer Holdings Corp. (a) | 141 | 8,774 | |
Lantheus Holdings, Inc. (a) | 334 | 23,490 | |
LeMaitre Vascular, Inc. | 211 | 10,694 | |
Meridian Bioscience, Inc. (a) | 576 | 18,161 | |
Merit Medical Systems, Inc. (a) | 364 | 20,570 | |
Orthofix Medical, Inc. (a) | 220 | 4,204 | |
Varex Imaging Corp. (a) | 266 | 5,623 | |
Zynex, Inc. | 313 | 2,839 | |
$ | 119,803 | ||
Healthcare — Services — 1.31% | |||
Addus HomeCare Corp. (a) | 205 | 19,524 | |
Ensign Group, Inc. | 462 | 36,729 | |
Select Medical Holdings Corp. | 293 | 6,476 | |
U.S. Physical Therapy, Inc. | 58 | 4,409 | |
$ | 67,138 | ||
Home Builders — 1.31% | |||
Cavco Industries, Inc. (a) | 58 | 11,934 | |
Century Communities, Inc. | 111 | 4,749 | |
Green Brick Partners, Inc. (a) | 162 | 3,464 | |
Installed Building Products, Inc. | 75 | 6,074 |
See accompanying notes.
81
Schedule of Investments | |||
Principal U.S. Small-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Home Builders (continued) | |||
LCI Industries | 72 | $ | 7,305 |
LGI Homes, Inc. (a) | 69 | 5,615 | |
M/I Homes, Inc. (a) | 118 | 4,275 | |
MDC Holdings, Inc. | 196 | 5,374 | |
Meritage Homes Corp. (a) | 104 | 7,308 | |
Tri Pointe Homes, Inc. (a) | 348 | 5,258 | |
Winnebago Industries, Inc. | 105 | 5,587 | |
$ | 66,943 | ||
Home Furnishings — 0.23% | |||
Ethan Allen Interiors, Inc. | 546 | 11,542 | |
Household Products — 0.88% | |||
Edgewell Personal Care Co. | 407 | 15,222 | |
elf Beauty, Inc. (a) | 327 | 12,302 | |
Inter Parfums, Inc. | 234 | 17,657 | |
$ | 45,181 | ||
Household Products/Wares — 0.77% | |||
Central Garden & Pet Co., Class A (a) | 361 | 12,332 | |
Central Garden & Pet Co. (a) | 212 | 7,640 | |
Quanex Building Products Corp. | 677 | 12,294 | |
WD-40 Co. | 40 | 7,030 | |
$ | 39,296 | ||
Insurance — 3.58% | |||
Ambac Financial Group, Inc. (a) | 286 | 3,646 | |
American Equity Investment Life Holding Co. | 416 | 15,513 | |
AMERISAFE, Inc. | 224 | 10,468 | |
Assured Guaranty Ltd. | 406 | 19,671 | |
Employers Holdings, Inc. | 300 | 10,347 | |
Genworth Financial, Inc., Class A (a) | 3,928 | 13,748 | |
Horace Mann Educators Corp. | 366 | 12,916 | |
James River Group Holdings Ltd. | 246 | 5,611 | |
Mercury General Corp. | 182 | 5,172 | |
NMI Holdings, Inc., Class A (a) | 969 | 19,739 | |
Palomar Holdings, Inc. (a) | 166 | 13,898 | |
ProAssurance Corp. | 566 | 11,043 | |
Safety Insurance Group, Inc. | 144 | 11,745 | |
SiriusPoint Ltd. (a) | 990 | 4,900 | |
Stewart Information Services Corp. | 246 | 10,735 | |
United Fire Group, Inc. | 262 | 7,527 | |
Universal Insurance Holdings, Inc. | 687 | 6,767 | |
$ | 183,446 | ||
Internet — 1.05% | |||
Cars.com, Inc. (a) | 388 | 4,462 | |
Cogent Communications Holdings, Inc. | 311 | 16,222 | |
ePlus, Inc. (a) | 227 | 9,430 | |
HealthStream, Inc. (a) | 230 | 4,890 | |
Perficient, Inc. (a) | 105 | 6,827 | |
Shutterstock, Inc. | 91 | 4,565 | |
Yelp, Inc. (a) | 218 | 7,392 | |
$ | 53,788 | ||
Iron & Steel — 0.28% | |||
ATI, Inc. (a) | 344 | 9,154 |
See accompanying notes.
82
Schedule of Investments | |||
Principal U.S. Small-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Iron & Steel (continued) | |||
Carpenter Technology Corp. | 173 | $ | 5,387 |
$ | 14,541 | ||
Lodging — 0.15% | |||
Marcus Corp. | 535 | 7,431 | |
Machinery — Diversified — 1.98% | |||
Alamo Group, Inc. | 99 | 12,105 | |
Albany International Corp., Class A | 311 | 24,516 | |
Applied Industrial Technologies, Inc. | 336 | 34,534 | |
DXP Enterprises, Inc. (a) | 144 | 3,410 | |
Ichor Holdings Ltd. (a) | 147 | 3,559 | |
Lindsay Corp. | 52 | 7,450 | |
Tennant Co. | 277 | 15,667 | |
$ | 101,241 | ||
Media — 0.41% | |||
AMC Networks, Inc., Class A (a) | 159 | 3,228 | |
Scholastic Corp. | 292 | 8,982 | |
Thryv Holdings, Inc. (a) | 393 | 8,972 | |
$ | 21,182 | ||
Metal Fabrication & Hardware — 1.29% | |||
AZZ, Inc. | 156 | 5,696 | |
Mueller Industries, Inc. | 520 | 30,909 | |
Olympic Steel, Inc. | 258 | 5,885 | |
Standex International Corp. | 187 | 15,268 | |
TimkenSteel Corp. (a) | 275 | 4,122 | |
Tredegar Corp. | 436 | 4,116 | |
$ | 65,996 | ||
Mining — 0.73% | |||
Century Aluminum Co. (a) | 451 | 2,381 | |
Livent Corp. (a) | 1,140 | 34,941 | |
$ | 37,322 | ||
Miscellaneous Manufacturers — 2.96% | |||
EnPro Industries, Inc. | 238 | 20,225 | |
ESCO Technologies, Inc. | 204 | 14,982 | |
Fabrinet (a) | 96 | 9,163 | |
Federal Signal Corp. | 427 | 15,936 | |
Haynes International, Inc. | 102 | 3,582 | |
Hillenbrand, Inc. | 678 | 24,896 | |
John Bean Technologies Corp. | 89 | 7,654 | |
Materion Corp. | 251 | 20,080 | |
Myers Industries, Inc. | 753 | 12,402 | |
Park Aerospace Corp. | 383 | 4,229 | |
Sturm Ruger & Co., Inc. | 205 | 10,412 | |
Trinity Industries, Inc. | 366 | 7,814 | |
$ | 151,375 | ||
Office Furnishings — 0.18% | |||
HNI Corp. | 228 | 6,045 | |
Interface, Inc. | 373 | 3,353 | |
$ | 9,398 | ||
Oil & Gas — 2.17% | |||
Callon Petroleum Co. (a) | 329 | 11,518 |
See accompanying notes.
83
Schedule of Investments | |||
Principal U.S. Small-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Oil & Gas (continued) | |||
Civitas Resources, Inc. | 293 | $ | 16,815 |
Helmerich & Payne, Inc. | 268 | 9,908 | |
Laredo Petroleum, Inc. (a) | 77 | 4,840 | |
Nabors Industries Ltd. (a) | 41 | 4,160 | |
Par Pacific Holdings, Inc. (a) | 280 | 4,595 | |
Patterson-UTI Energy, Inc. | 641 | 7,487 | |
PBF Energy, Inc., Class A (a) | 308 | 10,829 | |
Ranger Oil Corp., Class A | 222 | 6,982 | |
SM Energy Co. | 781 | 29,373 | |
Talos Energy, Inc. (a) | 283 | 4,712 | |
$ | 111,219 | ||
Oil & Gas Services — 0.62% | |||
Archrock, Inc. | 670 | 4,302 | |
Dril-Quip, Inc. (a) | 200 | 3,904 | |
Helix Energy Solutions Group, Inc. (a) | 931 | 3,594 | |
NOW, Inc. (a) | 475 | 4,774 | |
Oil States International, Inc. (a) | 782 | 3,042 | |
ProPetro Holding Corp. (a) | 506 | 4,073 | |
RPC, Inc. | 552 | 3,825 | |
U.S. Silica Holdings, Inc. (a) | 392 | 4,292 | |
$ | 31,806 | ||
Packaging & Containers — 0.23% | |||
Matthews International Corp., Class A | 227 | 5,087 | |
O-I Glass, Inc. (a) | 520 | 6,734 | |
$ | 11,821 | ||
Pharmaceuticals — 2.63% | |||
AdaptHealth Corp. (a) | 270 | 5,071 | |
Amphastar Pharmaceuticals, Inc. (a) | 337 | 9,470 | |
Anika Therapeutics, Inc. (a) | 195 | 4,641 | |
Catalyst Pharmaceuticals, Inc. (a) | 399 | 5,119 | |
Corcept Therapeutics, Inc. (a) | 575 | 14,743 | |
Covetrus, Inc. (a) | 801 | 16,725 | |
Embecta Corp. | 202 | 5,816 | |
Enanta Pharmaceuticals, Inc. (a) | 89 | 4,616 | |
Harmony Biosciences Holdings, Inc. (a) | 123 | 5,448 | |
Ironwood Pharmaceuticals, Inc. (a) | 679 | 7,034 | |
Pacira BioSciences, Inc. (a) | 183 | 9,734 | |
Phibro Animal Health Corp., Class A | 460 | 6,113 | |
Prestige Consumer Healthcare, Inc. (a) | 341 | 16,992 | |
Supernus Pharmaceuticals, Inc. (a) | 426 | 14,420 | |
USANA Health Sciences, Inc. (a) | 160 | 8,968 | |
$ | 134,910 | ||
Real Estate — 0.75% | |||
Alexander & Baldwin, Inc. | 700 | 11,606 | |
Marcus & Millichap, Inc. | 280 | 9,178 | |
RE/MAX Holdings, Inc., Class A | 387 | 7,318 | |
St. Joe Co. | 328 | 10,506 | |
$ | 38,608 | ||
REITs — 9.71% | |||
Acadia Realty Trust | 852 | 10,752 | |
Agree Realty Corp. | 636 | 42,981 | |
American Assets Trust, Inc. | 264 | 6,790 |
See accompanying notes.
84
Schedule of Investments | |||
Principal U.S. Small-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
REITs (continued) | |||
Apollo Commercial Real Estate Finance, Inc. | 649 | $ | 5,387 |
Armada Hoffler Properties, Inc. | 1,158 | 12,020 | |
ARMOUR Residential REIT, Inc. | 1,523 | 7,417 | |
Brandywine Realty Trust | 876 | 5,913 | |
CareTrust REIT, Inc. | 757 | 13,709 | |
Centerspace | 87 | 5,857 | |
Chatham Lodging Trust (a) | 746 | 7,363 | |
Community Healthcare Trust, Inc. | 281 | 9,203 | |
DiamondRock Hospitality Co. | 730 | 5,482 | |
Easterly Government Properties, Inc. | 771 | 12,159 | |
Ellington Financial, Inc. | 709 | 8,061 | |
Essential Properties Realty Trust, Inc. | 923 | 17,952 | |
Four Corners Property Trust, Inc. | 873 | 21,118 | |
Franklin BSP Realty Trust, Inc. | 525 | 5,654 | |
Franklin Street Properties Corp. | 1,434 | 3,771 | |
GEO Group, Inc. (a) | 599 | 4,612 | |
Getty Realty Corp. | 574 | 15,435 | |
Global Net Lease, Inc. | 958 | 10,203 | |
Granite Point Mortgage Trust, Inc. | 563 | 3,626 | |
Hersha Hospitality Trust, Class A | 367 | 2,929 | |
Hudson Pacific Properties, Inc. | 608 | 6,658 | |
Innovative Industrial Properties, Inc. | 85 | 7,523 | |
KKR Real Estate Finance Trust, Inc. | 577 | 9,376 | |
LTC Properties, Inc. | 335 | 12,546 | |
LXP Industrial Trust | 1,076 | 9,856 | |
New York Mortgage Trust, Inc. | 2,260 | 5,288 | |
NexPoint Residential Trust, Inc. | 128 | 5,915 | |
Office Properties Income Trust | 594 | 8,346 | |
Orion Office REIT, Inc. | 511 | 4,471 | |
PennyMac Mortgage Investment Trust | 477 | 5,619 | |
Ready Capital Corp. | 934 | 9,471 | |
Redwood Trust, Inc. | 815 | 4,678 | |
Retail Opportunity Investments Corp. | 1,392 | 19,154 | |
RPT Realty | 612 | 4,627 | |
Safehold, Inc. | 103 | 2,725 | |
Saul Centers, Inc. | 304 | 11,400 | |
SITE Centers Corp. | 754 | 8,075 | |
Summit Hotel Properties, Inc. | 584 | 3,925 | |
Sunstone Hotel Investors, Inc. | 1,535 | 14,460 | |
Tanger Factory Outlet Centers, Inc. | 896 | 12,257 | |
Two Harbors Investment Corp. | 2,899 | 9,625 | |
Uniti Group, Inc. | 1,773 | 12,322 | |
Universal Health Realty Income Trust | 273 | 11,796 | |
Urban Edge Properties | 1,372 | 18,303 | |
Urstadt Biddle Properties, Inc., Class A | 537 | 8,329 | |
Veris Residential, Inc. (a) | 832 | 9,460 | |
Washington Real Estate Investment Trust | 395 | 6,936 | |
Whitestone REIT | 1,231 | 10,414 | |
Xenia Hotels & Resorts, Inc. | 398 | 5,488 | |
$ | 497,437 | ||
Retail — 3.69% | |||
Academy Sports & Outdoors, Inc. | 447 | 18,854 | |
America's Car-Mart, Inc. (a) | 49 | 2,990 | |
Asbury Automotive Group, Inc. (a) | 59 | 8,915 | |
Boot Barn Holdings, Inc. (a) | 96 | 5,612 | |
Buckle, Inc. | 133 | 4,211 | |
Caleres, Inc. | 362 | 8,768 |
See accompanying notes.
85
Schedule of Investments | |||
Principal U.S. Small-Cap Adaptive Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Retail (continued) | |||
Cato Corp., Class A | 427 | $ | 4,074 |
Chico's FAS, Inc. (a) | 837 | 4,051 | |
Children's Place, Inc. (a) | 96 | 2,965 | |
Chuy's Holdings, Inc. (a) | 148 | 3,431 | |
Dave & Buster's Entertainment, Inc. (a) | 307 | 9,526 | |
Designer Brands, Inc., Class A | 289 | 4,425 | |
El Pollo Loco Holdings, Inc. (a) | 456 | 4,067 | |
Genesco, Inc. (a) | 174 | 6,842 | |
GMS, Inc. (a) | 288 | 11,523 | |
Group 1 Automotive, Inc. | 46 | 6,572 | |
Guess?, Inc. | 222 | 3,257 | |
Haverty Furniture Cos., Inc. | 294 | 7,321 | |
Hibbett, Inc. | 69 | 3,437 | |
La-Z-Boy, Inc. | 186 | 4,198 | |
MarineMax, Inc. (a) | 126 | 3,753 | |
Movado Group, Inc. | 131 | 3,692 | |
Patrick Industries, Inc. | 95 | 4,165 | |
PC Connection, Inc. | 284 | 12,805 | |
PriceSmart, Inc. | 210 | 12,094 | |
Ruth's Hospitality Group, Inc. | 439 | 7,401 | |
Sally Beauty Holdings, Inc. (a) | 798 | 10,055 | |
Shoe Carnival, Inc. | 148 | 3,173 | |
Sonic Automotive, Inc., Class A | 91 | 3,940 | |
Zumiez, Inc. (a) | 140 | 3,014 | |
$ | 189,131 | ||
Savings & Loans — 2.65% | |||
Axos Financial, Inc. (a) | 391 | 13,384 | |
Banc of California, Inc. | 367 | 5,861 | |
Berkshire Hills Bancorp, Inc. | 428 | 11,684 | |
Brookline Bancorp, Inc. | 829 | 9,658 | |
Capitol Federal Financial, Inc. | 1,307 | 10,848 | |
Northfield Bancorp, Inc. | 608 | 8,701 | |
Northwest Bancshares, Inc. | 1,479 | 19,981 | |
Pacific Premier Bancorp, Inc. | 611 | 18,917 | |
Provident Financial Services, Inc. | 888 | 17,316 | |
WSFS Financial Corp. | 414 | 19,234 | |
$ | 135,584 | ||
Semiconductors — 1.61% | |||
Alpha & Omega Semiconductor Ltd. (a) | 246 | 7,567 | |
Axcelis Technologies, Inc. (a) | 221 | 13,384 | |
Diodes, Inc. (a) | 125 | 8,114 | |
FormFactor, Inc. (a) | 239 | 5,987 | |
Kulicke & Soffa Industries, Inc. | 173 | 6,666 | |
MaxLinear, Inc. (a) | 209 | 6,817 | |
Onto Innovation, Inc. (a) | 132 | 8,454 | |
Photronics, Inc. (a) | 590 | 8,626 | |
Rambus, Inc. (a) | 326 | 8,287 | |
SMART Global Holdings, Inc. (a) | 241 | 3,825 | |
Ultra Clean Holdings, Inc. (a) | 180 | 4,635 | |
$ | 82,362 | ||
Software — 2.57% | |||
Allscripts Healthcare Solutions, Inc. (a) | 895 | 13,631 | |
Apollo Medical Holdings, Inc. (a) | 140 | 5,460 | |
Computer Programs and Systems, Inc. (a) | 166 | 4,628 | |
CSG Systems International, Inc. | 378 | 19,989 |
See accompanying notes.
86
Schedule of Investments | ||||
Principal U.S. Small-Cap Adaptive Multi-Factor ETF | ||||
September 30, 2022 (unaudited) | ||||
COMMON STOCKS (continued) | Shares Held | Value | ||
Software (continued) | ||||
Digi International, Inc. (a) | 293 | $ | 10,129 | |
Donnelley Financial Solutions, Inc. (a) | 238 | 8,799 | ||
Ebix, Inc. | 327 | 6,203 | ||
NextGen Healthcare, Inc. (a) | 641 | 11,346 | ||
PDF Solutions, Inc. (a) | 177 | 4,342 | ||
Progress Software Corp. | 498 | 21,190 | ||
Simulations Plus, Inc. | 163 | 7,912 | ||
SPS Commerce, Inc. (a) | 89 | 11,056 | ||
Xperi Holding Corp. | 510 | 7,211 | ||
$ | 131,896 | |||
Telecommunications — 1.68% | ||||
ADTRAN Holdings, Inc. | 292 | 5,717 | ||
ATN International, Inc. | 205 | 7,907 | ||
Clearfield, Inc. (a) | 107 | 11,196 | ||
Extreme Networks, Inc. (a) | 471 | 6,156 | ||
Gogo, Inc. (a) | 346 | 4,193 | ||
Harmonic, Inc. (a) | 1,023 | 13,371 | ||
InterDigital, Inc. | 266 | 10,752 | ||
NETGEAR, Inc. (a) | 190 | 3,808 | ||
Telephone and Data Systems, Inc. | 865 | 12,023 | ||
Viavi Solutions, Inc. (a) | 836 | 10,910 | ||
$ | 86,033 | |||
Textiles — 0.20% | ||||
UniFirst Corp. | 60 | 10,094 | ||
Transportation — 2.14% | ||||
ArcBest Corp. | 171 | 12,437 | ||
Atlas Air Worldwide Holdings, Inc. (a) | 154 | 14,718 | ||
Dorian LPG Ltd. | 274 | 3,718 | ||
Forward Air Corp. | 274 | 24,731 | ||
Heartland Express, Inc. | 946 | 13,537 | ||
Hub Group, Inc., Class A (a) | 348 | 24,005 | ||
Marten Transport Ltd. | 503 | 9,638 | ||
Matson, Inc. | 111 | 6,829 | ||
$ | 109,613 | |||
Water — 0.94% | ||||
American States Water Co. | 236 | 18,396 | ||
California Water Service Group | 347 | 18,283 | ||
Middlesex Water Co. | 149 | 11,503 | ||
$ | 48,182 | |||
TOTAL COMMON STOCKS | $ | 5,103,311 | ||
INVESTMENT COMPANIES — 0.22% | Shares Held | Value | ||
Money Market Fund — 0.22% | ||||
State Street Institutional U.S. Government Money Market Fund — Institutional | ||||
Class 0.80% (b) | 11,188 | $ | 11,188 | |
TOTAL INVESTMENT COMPANIES | $ | 11,188 | ||
Total Investments | $ | 5,114,499 | ||
Other Assets and Liabilities — 0.14% | 7,417 | |||
Total Net Assets — 100.00% | $ | 5,121,916 | ||
(a) | Non-income producing security. | |||
(b) | Current yield shown is as of period end. |
See accompanying notes. 87
Schedule of Investments
Principal U.S. Small-Cap Adaptive Multi-Factor ETF
September 30, 2022 (unaudited)
Portfolio Summary (unaudited) | ||
Sector | Percent | |
Financial | 34.79 | % |
Industrial | 18.99 | % |
Consumer, Non-cyclical | 17.89 | % |
Consumer, Cyclical | 8.18 | % |
Technology | 5.66 | % |
Basic Materials | 4.65 | % |
Energy | 3.42 | % |
Communications | 3.14 | % |
Utilities | 2.92 | % |
Money Market Fund | 0.22 | % |
Other Assets and Liabilities | 0.14 | % |
TOTAL NET ASSETS | 100.00 | % |
See accompanying notes.
88
Schedule of Investments | |||
Principal U.S. Small-Cap Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS �� 99.59% | Shares Held | Value | |
Advertising — 0.01% | |||
Entravision Communications Corp., Class A | 7,132 | $ | 28,314 |
Aerospace & Defense — 0.50% | |||
AAR Corp. (a) | 11,848 | 424,395 | |
Barnes Group, Inc. | 9,521 | 274,967 | |
Moog, Inc., Class A | 5,380 | 378,483 | |
$ | 1,077,845 | ||
Agriculture — 0.29% | |||
Alico, Inc. | 1,320 | 37,277 | |
Andersons, Inc. | 5,329 | 165,359 | |
Turning Point Brands, Inc. | 3,716 | 78,891 | |
Universal Corp. | 4,279 | 197,005 | |
Vector Group Ltd. | 16,182 | 142,563 | |
$ | 621,095 | ||
Apparel — 1.22% | |||
Carter's, Inc. | 10,917 | 715,391 | |
Crocs, Inc. (a) | 6,597 | 452,950 | |
Kontoor Brands, Inc. | 7,032 | 236,346 | |
Levi Strauss & Co., Class A | 29,217 | 422,770 | |
Oxford Industries, Inc. | 3,350 | 300,763 | |
Steven Madden Ltd. | 12,918 | 344,523 | |
Wolverine World Wide, Inc. | 11,254 | 173,199 | |
$ | 2,645,942 | ||
Auto Manufacturers — 0.05% | |||
REV Group, Inc. | 9,486 | 104,631 | |
Auto Parts & Equipment — 0.87% | |||
Allison Transmission Holdings, Inc. | 34,977 | 1,180,823 | |
Dana, Inc. | 19,788 | 226,177 | |
Holley, Inc. (a) | 3,718 | 15,058 | |
Methode Electronics, Inc. | 8,094 | 300,692 | |
Standard Motor Products, Inc. | 2,581 | 83,882 | |
Titan International, Inc. (a) | 7,018 | 85,199 | |
$ | 1,891,831 | ||
Banks — 8.77% | |||
1st Source Corp. | 2,667 | 123,482 | |
Ameris Bancorp | 10,318 | 461,318 | |
Associated Banc-Corp. | 10,917 | 219,213 | |
BancFirst Corp. | 8,703 | 778,657 | |
Bancorp, Inc. (a) | 11,023 | 242,286 | |
BayCom Corp. | 3,954 | 69,511 | |
Byline Bancorp, Inc. | 7,253 | 146,873 | |
Cadence Bank | 19,059 | 484,289 | |
Camden National Corp. | 3,253 | 138,578 | |
Cathay General Bancorp | 16,820 | 646,897 | |
Central Pacific Financial Corp. | 10,559 | 218,466 | |
City Holding Co. | 4,296 | 381,012 | |
Coastal Financial Corp. (a) | 2,523 | 100,264 | |
Community Trust Bancorp, Inc. | 3,823 | 155,023 | |
ConnectOne Bancorp, Inc. | 9,278 | 213,951 | |
CrossFirst Bankshares, Inc. (a) | 7,224 | 94,273 | |
Customers Bancorp, Inc. (a) | 13,964 | 411,659 | |
CVB Financial Corp. | 62,373 | 1,579,284 | |
Dime Community Bancshares, Inc. | 8,439 | 247,094 |
See accompanying notes.
89
Schedule of Investments | |||
Principal U.S. Small-Cap Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Banks (continued) | |||
Eagle Bancorp, Inc. | 8,329 | $ | 373,306 |
Enterprise Financial Services Corp. | 7,244 | 319,026 | |
Equity Bancshares, Inc., Class A | 2,494 | 73,897 | |
Farmers National Banc Corp. | 5,954 | 77,938 | |
FB Financial Corp. | 6,554 | 250,428 | |
First BanCorp | 70,734 | 967,641 | |
First Bancshares, Inc. | 4,436 | 132,503 | |
First Busey Corp. | 9,391 | 206,414 | |
First Commonwealth Financial Corp. | 34,282 | 440,181 | |
First Financial Bancorp | 17,762 | 374,423 | |
First Foundation, Inc. | 15,521 | 281,551 | |
First Merchants Corp. | 13,646 | 527,827 | |
German American Bancorp, Inc. | 2,876 | 102,702 | |
Great Southern Bancorp, Inc. | 3,380 | 192,897 | |
Hancock Whitney Corp. | 22,131 | 1,013,821 | |
Hanmi Financial Corp. | 7,859 | 186,101 | |
Hope Bancorp, Inc. | 37,803 | 477,830 | |
Horizon Bancorp, Inc. | 6,820 | 122,487 | |
Independent Bank Corp. | 6,595 | 125,965 | |
Kearny Financial Corp. | 25,778 | 273,762 | |
Lakeland Bancorp, Inc. | 15,529 | 248,619 | |
Lakeland Financial Corp. | 11,272 | 820,714 | |
Mercantile Bank Corp. | 3,112 | 92,458 | |
Merchants Bancorp | 3,012 | 69,487 | |
Metropolitan Bank Holding Corp. (a) | 4,067 | 261,752 | |
Midland States Bancorp, Inc. | 5,019 | 118,298 | |
OFG Bancorp | 11,609 | 291,734 | |
Origin Bancorp, Inc. | 3,367 | 129,529 | |
Pathward Financial, Inc. | 11,144 | 367,306 | |
PCB Bancorp | 2,767 | 50,000 | |
Preferred Bank | 4,201 | 274,031 | |
Premier Financial Corp. | 8,664 | 222,665 | |
QCR Holdings, Inc. | 3,528 | 179,716 | |
S&T Bancorp, Inc. | 8,008 | 234,715 | |
Sandy Spring Bancorp, Inc. | 8,574 | 302,319 | |
ServisFirst Bancshares, Inc. | 10,201 | 816,080 | |
SouthState Corp. | 5,949 | 470,685 | |
Stock Yards Bancorp, Inc. | 3,392 | 230,690 | |
TriCo Bancshares | 4,532 | 202,354 | |
Veritex Holdings, Inc. | 16,574 | 440,703 | |
$ | 19,056,685 | ||
Beverages — 0.20% | |||
Coca-Cola Consolidated, Inc. | 547 | 225,216 | |
MGP Ingredients, Inc. | 1,950 | 207,012 | |
$ | 432,228 | ||
Biotechnology — 4.79% | |||
ACADIA Pharmaceuticals, Inc. (a) | 29,667 | 485,352 | |
Adicet Bio, Inc. (a) | 3,019 | 42,930 | |
ADMA Biologics, Inc. (a) | 34,274 | 83,286 | |
Agenus, Inc. (a) | 76,892 | 157,629 | |
Albireo Pharma, Inc. (a) | 5,315 | 102,898 | |
AnaptysBio, Inc. (a) | 5,563 | 141,912 | |
ANI Pharmaceuticals, Inc. (a) | 4,397 | 141,320 | |
Arcus Biosciences, Inc. (a) | 13,162 | 344,318 | |
BioCryst Pharmaceuticals, Inc. (a) | 56,743 | 714,962 | |
Cara Therapeutics, Inc. (a) | 10,272 | 96,146 |
See accompanying notes.
90
Schedule of Investments | |||
Principal U.S. Small-Cap Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Biotechnology (continued) | |||
Chinook Therapeutics, Inc. (a) | 7,019 | $ | 137,994 |
Cytek Biosciences, Inc. (a) | 29,391 | 432,635 | |
Cytokinetics, Inc. (a) | 20,449 | 990,754 | |
Dynavax Technologies Corp. (a) | 41,353 | 431,725 | |
Evolus, Inc. (a) | 6,554 | 52,760 | |
EyePoint Pharmaceuticals, Inc. (a) | 3,549 | 28,073 | |
Innoviva, Inc. (a) | 28,033 | 325,463 | |
Intercept Pharmaceuticals, Inc. (a) | 12,812 | 178,727 | |
Intra-Cellular Therapies, Inc. (a) | 21,774 | 1,013,144 | |
Ionis Pharmaceuticals, Inc. (a) | 27,425 | 1,213,008 | |
iTeos Therapeutics, Inc. (a) | 14,045 | 267,557 | |
KemPharm, Inc. (a),(b) | 11,610 | 72,446 | |
Ligand Pharmaceuticals, Inc. (a) | 3,592 | 309,307 | |
Lineage Cell Therapeutics, Inc. (a),(b) | 14,937 | 16,879 | |
Maravai LifeSciences Holdings, Inc., Class A (a) | 41,485 | 1,059,112 | |
Myriad Genetics, Inc. (a) | 12,810 | 244,415 | |
Organogenesis Holdings, Inc. (a) | 16,671 | 54,014 | |
Prothena Corp. PLC (a) | 8,454 | 512,566 | |
REGENXBIO, Inc. (a) | 7,254 | 191,723 | |
Selecta Biosciences, Inc. (a) | 26,843 | 44,023 | |
TransMedics Group, Inc. (a) | 1,707 | 71,250 | |
Travere Therapeutics, Inc. (a) | 16,803 | 414,026 | |
Viridian Therapeutics, Inc. (a) | 1,802 | 36,959 | |
$ | 10,409,313 | ||
Chemicals — 1.88% | |||
AdvanSix, Inc. | 5,031 | 161,495 | |
American Vanguard Corp. | 5,367 | 100,363 | |
Balchem Corp. | 6,498 | 790,027 | |
Cabot Corp. | 13,830 | 883,598 | |
Ingevity Corp. (a) | 7,451 | 451,754 | |
Intrepid Potash, Inc. (a) | 3,118 | 123,379 | |
Minerals Technologies, Inc. | 5,046 | 249,323 | |
NewMarket Corp. | 1,225 | 368,517 | |
Sensient Technologies Corp. | 10,761 | 746,168 | |
Trinseo PLC | 11,037 | 202,198 | |
$ | 4,076,822 | ||
Coal — 1.83% | |||
Alpha Metallurgical Resources, Inc. | 3,820 | 522,729 | |
Arch Resources, Inc. | 9,969 | 1,182,323 | |
CONSOL Energy, Inc. | 5,615 | 361,157 | |
Peabody Energy Corp. (a) | 54,576 | 1,354,576 | |
Ramaco Resources, Inc. | 6,438 | 59,230 | |
SunCoke Energy, Inc. | 17,507 | 101,716 | |
Warrior Met Coal, Inc. | 13,528 | 384,736 | |
$ | 3,966,467 | ||
Commercial Services — 5.68% | |||
AMN Healthcare Services, Inc. (a) | 1,709 | 181,086 | |
Brink's Co. | 17,654 | 855,160 | |
Carriage Services, Inc. | 3,499 | 112,528 | |
Cass Information Systems, Inc. | 3,370 | 116,905 | |
CBIZ, Inc. (a) | 9,029 | 386,261 | |
CorVel Corp. (a) | 1,599 | 221,350 | |
CRA International, Inc. | 1,125 | 99,832 | |
Cross Country Healthcare, Inc. (a) | 8,424 | 238,989 | |
Deluxe Corp. | 7,723 | 128,588 |
See accompanying notes.
91
Schedule of Investments | |||
Principal U.S. Small-Cap Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Commercial Services (continued) | |||
DLH Holdings Corp. (a) | 998 | $ | 12,245 |
Driven Brands Holdings, Inc. (a) | 9,643 | 269,811 | |
EVERTEC, Inc. | 12,915 | 404,885 | |
Forrester Research, Inc. (a) | 1,945 | 70,039 | |
Franklin Covey Co. (a) | 1,376 | 62,457 | |
Graham Holdings Co., Class B | 637 | 342,693 | |
Grand Canyon Education, Inc. (a) | 8,616 | 708,666 | |
H&R Block, Inc. | 60,115 | 2,557,292 | |
Hackett Group, Inc. | 3,957 | 70,118 | |
Herc Holdings, Inc. | 5,150 | 534,982 | |
ICF International, Inc. | 3,379 | 368,379 | |
Information Services Group, Inc. | 6,674 | 31,768 | |
Insperity, Inc. | 5,903 | 602,637 | |
John Wiley & Sons, Inc., Class A | 5,679 | 213,303 | |
Kforce, Inc. | 3,067 | 179,880 | |
Korn Ferry | 13,008 | 610,726 | |
Laureate Education, Inc., Class A | 38,321 | 404,287 | |
Medifast, Inc. | 2,403 | 260,389 | |
Monro, Inc. | 7,196 | 312,738 | |
Multiplan Corp. (a) | 44,460 | 127,156 | |
Progyny, Inc. (a) | 12,842 | 475,925 | |
Resources Connection, Inc. | 7,029 | 127,014 | |
Strategic Education, Inc. | 2,289 | 140,567 | |
Stride, Inc. (a) | 5,841 | 245,497 | |
Transcat, Inc. (a) | 1,112 | 84,167 | |
Triton International Ltd. | 14,094 | 771,365 | |
Universal Technical Institute, Inc. (a) | 2,739 | 14,900 | |
$ | 12,344,585 | ||
Computers — 2.23% | |||
Everspin Technologies, Inc. (a) | 3,831 | 22,181 | |
ExlService Holdings, Inc. (a) | 6,439 | 948,851 | |
Insight Enterprises, Inc. (a) | 11,504 | 948,045 | |
NetScout Systems, Inc. (a) | 16,664 | 521,916 | |
Rimini Street, Inc. (a) | 8,897 | 41,460 | |
Science Applications International Corp. | 16,347 | 1,445,565 | |
Super Micro Computer, Inc. (a) | 6,800 | 374,476 | |
Teradata Corp. (a) | 17,243 | 535,568 | |
$ | 4,838,062 | ||
Construction Materials — 0.35% | |||
Apogee Enterprises, Inc. | 6,711 | 256,495 | |
Boise Cascade Co. | 8,620 | 512,545 | |
$ | 769,040 | ||
Distribution/Wholesale — 0.91% | |||
A-Mark Precious Metals, Inc. | 3,120 | 88,577 | |
Core & Main, Inc., Class A (a) | 28,290 | 643,315 | |
G-III Apparel Group Ltd. (a) | 6,209 | 92,824 | |
Hudson Technologies, Inc. (a) | 4,329 | 31,818 | |
ScanSource, Inc. (a) | 4,247 | 112,163 | |
Titan Machinery, Inc. (a) | 3,955 | 111,768 | |
Univar Solutions, Inc. (a) | 32,700 | 743,598 | |
Veritiv Corp. (a) | 1,545 | 151,055 | |
$ | 1,975,118 | ||
Diversified Financial Services — 3.70% | |||
Amerant Bancorp, Inc. | 7,255 | 180,214 |
See accompanying notes.
92
Schedule of Investments | |||
Principal U.S. Small-Cap Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Diversified Financial Services (continued) | |||
Bread Financial Holdings, Inc. | 27,325 | $ | 859,371 |
Cohen & Steers, Inc. | 5,476 | 342,962 | |
Columbia Financial, Inc. (a) | 8,421 | 177,936 | |
Consumer Portfolio Services, Inc. (a) | 3,025 | 21,992 | |
Diamond Hill Investment Group, Inc. | 406 | 66,990 | |
Encore Capital Group, Inc. (a) | 24,470 | 1,112,896 | |
International Money Express, Inc. (a) | 7,343 | 167,347 | |
Moelis & Co., Class A | 25,080 | 847,955 | |
Mr Cooper Group, Inc. (a) | 30,399 | 1,231,159 | |
Piper Sandler Cos. | 5,149 | 539,306 | |
PRA Group, Inc. (a) | 16,850 | 553,691 | |
Regional Management Corp. | 1,944 | 54,510 | |
StepStone Group, Inc., Class A | 10,783 | 264,291 | |
Victory Capital Holdings, Inc., Class A | 10,539 | 245,664 | |
Virtu Financial, Inc., Class A | 49,742 | 1,033,141 | |
Virtus Investment Partners, Inc. | 2,078 | 331,483 | |
$ | 8,030,908 | ||
Electric — 1.28% | |||
Avista Corp. | 25,738 | 953,593 | |
Otter Tail Corp. | 6,785 | 417,413 | |
Portland General Electric Co. | 32,270 | 1,402,454 | |
$ | 2,773,460 | ||
Electrical Components & Equipment — 0.89% | |||
Belden, Inc. | 9,856 | 591,557 | |
Encore Wire Corp. | 6,119 | 706,990 | |
Energizer Holdings, Inc. | 21,409 | 538,222 | |
Insteel Industries, Inc. | 3,651 | 96,861 | |
$ | 1,933,630 | ||
Electronics — 2.09% | |||
Advanced Energy Industries, Inc. | 5,046 | 390,611 | |
Avnet, Inc. | 24,843 | 897,329 | |
Badger Meter, Inc. | 4,066 | 375,658 | |
Benchmark Electronics, Inc. | 7,360 | 182,381 | |
Comtech Telecommunications Corp. | 4,782 | 47,868 | |
CTS Corp. | 4,386 | 182,677 | |
CyberOptics Corp. (a) | 900 | 48,402 | |
Knowles Corp. (a) | 46,438 | 565,150 | |
Napco Security Technologies, Inc. (a) | 4,677 | 136,007 | |
NVE Corp. | 1,004 | 46,837 | |
Sanmina Corp. (a) | 16,455 | 758,246 | |
Standard BioTools, Inc. (a) | 15,161 | 16,677 | |
TTM Technologies, Inc. (a) | 23,545 | 310,323 | |
Vishay Intertechnology, Inc. | 32,311 | 574,813 | |
$ | 4,532,979 | ||
Engineering & Construction — 0.85% | |||
Arcosa, Inc. | 5,821 | 332,845 | |
Comfort Systems USA, Inc. | 6,130 | 596,633 | |
Granite Construction, Inc. | 12,943 | 328,623 | |
MYR Group, Inc. (a) | 3,136 | 265,713 | |
NV5 Global, Inc. (a) | 1,707 | 211,360 | |
Sterling Infrastructure, Inc. (a) | 5,342 | 114,693 | |
$ | 1,849,867 |
See accompanying notes.
93
Schedule of Investments | |||
Principal U.S. Small-Cap Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Entertainment — 0.68% | |||
Accel Entertainment, Inc. (a) | 5,376 | $ | 41,986 |
Golden Entertainment, Inc. (a) | 4,913 | 171,415 | |
Monarch Casino & Resort, Inc. (a) | 1,737 | 97,515 | |
RCI Hospitality Holdings, Inc. | 1,343 | 87,752 | |
Red Rock Resorts, Inc., Class A | 10,655 | 365,040 | |
SeaWorld Entertainment, Inc. (a) | 15,878 | 722,608 | |
$ | 1,486,316 | ||
Environmental Control — 0.44% | |||
Casella Waste Systems, Inc., Class A (a) | 12,454 | 951,361 | |
Food — 1.79% | |||
Hostess Brands, Inc. (a) | 74,062 | 1,721,201 | |
Ingles Markets, Inc., Class A | 2,426 | 192,163 | |
Natural Grocers by Vitamin Cottage, Inc. | 1,243 | 13,412 | |
Seaboard Corp. | 46 | 156,522 | |
Simply Good Foods Co. (a) | 11,635 | 372,204 | |
SpartanNash Co. | 6,016 | 174,584 | |
Sprouts Farmers Market, Inc. (a) | 33,322 | 924,686 | |
United Natural Foods, Inc. (a) | 9,613 | 330,399 | |
$ | 3,885,171 | ||
Food Service — 0.19% | |||
Healthcare Services Group, Inc. | 34,512 | 417,250 | |
Gas — 1.24% | |||
Chesapeake Utilities Corp. | 2,836 | 327,246 | |
ONE Gas, Inc. | 13,747 | 967,652 | |
Southwest Gas Holdings, Inc. | 5,731 | 399,737 | |
Spire, Inc. | 16,103 | 1,003,700 | |
$ | 2,698,335 | ||
Hand/Machine Tools — 0.27% | |||
Franklin Electric Co., Inc. | 7,116 | 581,448 | |
Healthcare — Products — 4.56% | |||
Accuray, Inc. (a) | 20,120 | 41,850 | |
AngioDynamics, Inc. (a) | 8,311 | 170,043 | |
Artivion, Inc. (a) | 4,612 | 63,830 | |
Atrion Corp. | 170 | 96,050 | |
Avanos Medical, Inc. (a) | 10,921 | 237,859 | |
Axogen, Inc. (a) | 6,215 | 74,083 | |
Axonics, Inc. (a) | 7,391 | 520,622 | |
Bioventus, Inc., Class A (a) | 3,372 | 23,604 | |
Cardiovascular Systems, Inc. (a) | 7,614 | 105,530 | |
Castle Biosciences, Inc. (a) | 3,248 | 84,708 | |
CONMED Corp. | 9,201 | 737,644 | |
Cue Health, Inc. (a),(b) | 11,761 | 35,401 | |
Cutera, Inc. (a) | 2,533 | 115,505 | |
Eargo, Inc. (a) | 24,710 | 25,945 | |
Glaukos Corp. (a) | 9,042 | 481,396 | |
Haemonetics Corp. (a) | 11,623 | 860,451 | |
Inari Medical, Inc. (a) | 8,246 | 598,989 | |
Inogen, Inc. (a) | 4,296 | 104,307 | |
Integer Holdings Corp. (a) | 7,552 | 469,961 | |
iRadimed Corp. | 1,536 | 46,172 | |
iRhythm Technologies, Inc. (a) | 4,299 | 538,579 | |
Lantheus Holdings, Inc. (a) | 8,373 | 588,873 | |
LeMaitre Vascular, Inc. | 3,262 | 165,318 |
See accompanying notes.
94
Schedule of Investments | |||
Principal U.S. Small-Cap Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Healthcare — Products (continued) | |||
Meridian Bioscience, Inc. (a) | 13,515 | $ | 426,128 |
Merit Medical Systems, Inc. (a) | 9,488 | 536,167 | |
NuVasive, Inc. (a) | 15,036 | 658,727 | |
Orthofix Medical, Inc. (a) | 3,530 | 67,458 | |
Patterson Cos., Inc. | 24,691 | 593,078 | |
Shockwave Medical, Inc. (a) | 1,608 | 447,137 | |
SI-BONE, Inc. (a) | 5,398 | 94,249 | |
Sientra, Inc. (a),(b) | 11,068 | 7,084 | |
Silk Road Medical, Inc. (a) | 4,792 | 215,640 | |
Tactile Systems Technology, Inc. (a) | 3,713 | 28,924 | |
Treace Medical Concepts, Inc. (a) | 4,163 | 91,877 | |
Utah Medical Products, Inc. | 520 | 44,361 | |
Varex Imaging Corp. (a) | 18,460 | 390,244 | |
ViewRay, Inc. (a) | 34,168 | 124,372 | |
$ | 9,912,166 | ||
Healthcare — Services — 1.61% | |||
Acadia Healthcare Co., Inc. (a) | 15,152 | 1,184,583 | |
Agiliti, Inc. (a) | 4,042 | 57,841 | |
Aveanna Healthcare Holdings, Inc. (a) | 9,458 | 14,187 | |
Brookdale Senior Living, Inc. (a) | 57,050 | 243,604 | |
Ensign Group, Inc. | 8,608 | 684,336 | |
LHC Group, Inc. (a) | 1,246 | 203,920 | |
National HealthCare Corp. | 1,596 | 101,091 | |
OPKO Health, Inc. (a) | 83,005 | 156,880 | |
Pediatrix Medical Group, Inc. (a) | 15,967 | 263,615 | |
Pennant Group, Inc. (a) | 2,524 | 26,275 | |
RadNet, Inc. (a) | 7,135 | 145,197 | |
Surgery Partners, Inc. (a) | 7,482 | 175,079 | |
U.S. Physical Therapy, Inc. | 3,257 | 247,597 | |
$ | 3,504,205 | ||
Home Builders — 1.18% | |||
Cavco Industries, Inc. (a) | 1,131 | 232,715 | |
Century Communities, Inc. | 8,449 | 361,448 | |
LCI Industries | 3,377 | 342,630 | |
Skyline Champion Corp. (a) | 8,556 | 452,356 | |
Tri Pointe Homes, Inc. (a) | 29,682 | 448,495 | |
Winnebago Industries, Inc. | 13,512 | 718,973 | |
$ | 2,556,617 | ||
Home Furnishings — 0.09% | |||
Arhaus, Inc. (a),(b) | 3,513 | 24,767 | |
Ethan Allen Interiors, Inc. | 7,726 | 163,327 | |
$ | 188,094 | ||
Household Products — 0.29% | |||
Edgewell Personal Care Co. | 11,975 | 447,865 | |
Inter Parfums, Inc. | 2,521 | 190,235 | |
$ | 638,100 | ||
Household Products/Wares — 0.28% | |||
ACCO Brands Corp. | 14,941 | 73,211 | |
Quanex Building Products Corp. | 6,208 | 112,737 | |
Spectrum Brands Holdings, Inc. | 11,044 | 431,048 | |
$ | 616,996 |
See accompanying notes.
95
Schedule of Investments | |||
Principal U.S. Small-Cap Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Insurance — 3.30% | |||
American Equity Investment Life Holding Co. | 24,110 | $ | 899,062 |
Essent Group Ltd. | 11,539 | 402,365 | |
Jackson Financial, Inc., Class A | 28,693 | 796,231 | |
Kinsale Capital Group, Inc. | 4,197 | 1,071,997 | |
Radian Group, Inc. | 81,844 | 1,578,771 | |
RLI Corp. | 9,016 | 923,058 | |
Selective Insurance Group, Inc. | 13,498 | 1,098,737 | |
Stewart Information Services Corp. | 9,400 | 410,216 | |
$ | 7,180,437 | ||
Internet — 0.71% | |||
Cargurus, Inc. (a) | 11,492 | 162,841 | |
ChannelAdvisor Corp. (a) | 5,961 | 135,076 | |
ePlus, Inc. (a) | 3,257 | 135,296 | |
HealthStream, Inc. (a) | 3,245 | 68,989 | |
Perficient, Inc. (a) | 6,334 | 411,837 | |
Revolve Group, Inc. (a) | 12,562 | 272,470 | |
Shutterstock, Inc. | 7,245 | 363,482 | |
$ | 1,549,991 | ||
Investment Companies — 0.57% | |||
Golub Capital BDC, Inc. | 99,291 | 1,230,215 | |
Iron & Steel — 0.57% | |||
Commercial Metals Co. | 35,032 | 1,242,935 | |
Leisure Time — 0.52% | |||
Acushnet Holdings Corp. | 7,007 | 304,734 | |
Camping World Holdings, Inc., Class A | 29,686 | 751,650 | |
OneWater Marine, Inc., Class A (a) | 2,293 | 69,042 | |
$ | 1,125,426 | ||
Lodging — 0.01% | |||
Bluegreen Vacations Holding Corp. | 1,004 | 16,586 | |
Machinery — Construction & Mining — 0.85% | |||
BWX Technologies, Inc. | 25,439 | 1,281,363 | |
Terex Corp. | 19,387 | 576,569 | |
$ | 1,857,932 | ||
Machinery — Diversified — 1.07% | |||
Albany International Corp., Class A | 7,273 | 573,331 | |
Applied Industrial Technologies, Inc. | 6,080 | 624,902 | |
Cactus, Inc., Class A | 6,906 | 265,398 | |
Kadant, Inc. | 1,489 | 248,380 | |
Mueller Water Products, Inc., Class A | 46,967 | 482,351 | |
Tennant Co. | 2,413 | 136,479 | |
$ | 2,330,841 | ||
Media — 0.79% | |||
AMC Networks, Inc., Class A (a) | 6,167 | 125,190 | |
EW Scripps Co., Class A (a) | 4,777 | 53,837 | |
Gray Television, Inc. | 10,670 | 152,794 | |
Scholastic Corp. | 3,356 | 103,231 | |
Sinclair Broadcast Group, Inc., Class A | 13,378 | 242,008 | |
World Wrestling Entertainment, Inc., Class A | 14,926 | 1,047,357 | |
$ | 1,724,417 |
See accompanying notes.
96
Schedule of Investments | |||
Principal U.S. Small-Cap Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Metal Fabrication & Hardware — 0.74% | |||
AZZ, Inc. | 5,946 | $ | 217,088 |
Helios Technologies, Inc. | 3,027 | 153,166 | |
Mueller Industries, Inc. | 12,839 | 763,150 | |
Ryerson Holding Corp. | 3,598 | 92,613 | |
Standex International Corp. | 2,539 | 207,309 | |
TimkenSteel Corp. (a) | 12,339 | 184,962 | |
$ | 1,618,288 | ||
Miscellaneous Manufacturers — 0.63% | |||
EnPro Industries, Inc. | 4,073 | 346,124 | |
Hillenbrand, Inc. | 13,796 | 506,589 | |
Myers Industries, Inc. | 3,591 | 59,144 | |
Sight Sciences, Inc. (a) | 6,561 | 41,662 | |
Smith & Wesson Brands, Inc. | 18,699 | 193,909 | |
Sturm Ruger & Co., Inc. | 4,404 | 223,679 | |
$ | 1,371,107 | ||
Office & Business Equipment — 0.44% | |||
Xerox Holdings Corp. | 72,272 | 945,318 | |
Office Furnishings — 0.07% | |||
HNI Corp. | 4,505 | 119,427 | |
Interface, Inc. | 3,835 | 34,477 | |
$ | 153,904 | ||
Oil & Gas — 3.13% | |||
Brigham Minerals, Inc., Class A | 9,731 | 240,064 | |
California Resources Corp. | 17,304 | 664,993 | |
Callon Petroleum Co. (a) | 25,189 | 881,867 | |
Chord Energy Corp. | 6,544 | 895,023 | |
Civitas Resources, Inc. | 15,651 | 898,211 | |
Comstock Resources, Inc. (a) | 33,811 | 584,592 | |
Gulfport Energy Corp. (a) | 1,602 | 141,440 | |
Magnolia Oil & Gas Corp., Class A | 34,164 | 676,789 | |
Ranger Oil Corp., Class A | 5,026 | 158,068 | |
SandRidge Energy, Inc. (a) | 10,441 | 170,293 | |
SilverBow Resources, Inc. (a) | 1,824 | 49,029 | |
Sitio Royalties Corp. (b) | 4,195 | 92,751 | |
SM Energy Co. | 34,835 | 1,310,144 | |
VAALCO Energy, Inc. | 9,966 | 43,452 | |
$ | 6,806,716 | ||
Oil & Gas Services — 0.47% | |||
Archrock, Inc. | 23,195 | 148,912 | |
ChampionX Corp. | 34,022 | 665,811 | |
Solaris Oilfield Infrastructure, Inc., Class A | 3,728 | 34,894 | |
Weatherford International PLC (a) | 5,246 | 169,393 | |
$ | 1,019,010 | ||
Packaging & Containers — 0.24% | |||
Greif, Inc., Class A | 6,089 | 362,721 | |
Matthews International Corp., Class A | 3,597 | 80,609 | |
UFP Technologies, Inc. (a) | 901 | 77,342 | |
$ | 520,672 | ||
Pharmaceuticals — 4.42% | |||
Aerie Pharmaceuticals, Inc. (a) | 10,574 | 159,985 | |
Agios Pharmaceuticals, Inc. (a) | 12,338 | 348,919 |
See accompanying notes.
97
Schedule of Investments | |||
Principal U.S. Small-Cap Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Pharmaceuticals (continued) | |||
Akebia Therapeutics, Inc. (a) | 143,795 | $ | 45,468 |
Alkermes PLC (a) | 31,798 | 710,049 | |
Amneal Pharmaceuticals, Inc. (a) | 21,656 | 43,745 | |
Amphastar Pharmaceuticals, Inc. (a) | 7,387 | 207,575 | |
Anika Therapeutics, Inc. (a) | 2,891 | 68,806 | |
Catalyst Pharmaceuticals, Inc. (a) | 21,165 | 271,547 | |
Clovis Oncology, Inc. (a),(b) | 87,188 | 103,754 | |
Coherus Biosciences, Inc. (a) | 21,073 | 202,512 | |
Collegium Pharmaceutical, Inc. (a) | 8,266 | 132,421 | |
Corcept Therapeutics, Inc. (a) | 21,655 | 555,234 | |
Eagle Pharmaceuticals, Inc. (a) | 3,947 | 104,280 | |
Enanta Pharmaceuticals, Inc. (a) | 5,010 | 259,869 | |
Harmony Biosciences Holdings, Inc. (a) | 8,158 | 361,318 | |
Ironwood Pharmaceuticals, Inc. (a) | 96,826 | 1,003,117 | |
Jounce Therapeutics, Inc. (a) | 8,209 | 19,209 | |
Merus NV (a) | 3,143 | 62,954 | |
Option Care Health, Inc. (a) | 22,369 | 703,952 | |
Owens & Minor, Inc. | 19,454 | 468,841 | |
Pacira BioSciences, Inc. (a) | 22,106 | 1,175,818 | |
Paratek Pharmaceuticals, Inc. (a),(b) | 9,814 | 25,222 | |
PetIQ, Inc. (a) | 6,269 | 43,256 | |
Phibro Animal Health Corp., Class A | 3,663 | 48,681 | |
Premier, Inc., Class A | 32,238 | 1,094,158 | |
Prestige Consumer Healthcare, Inc. (a) | 11,903 | 593,126 | |
Supernus Pharmaceuticals, Inc. (a) | 13,525 | 457,821 | |
USANA Health Sciences, Inc. (a) | 1,950 | 109,298 | |
Vanda Pharmaceuticals, Inc. (a) | 13,641 | 134,773 | |
Xeris Biopharma Holdings, Inc. (a) | 51,141 | 79,780 | |
$ | 9,595,488 | ||
Pipelines — 0.89% | |||
Antero Midstream Corp. | 99,425 | 912,721 | |
Equitrans Midstream Corp. | 112,081 | 838,366 | |
Kinetik Holdings, Inc. (b) | 5,810 | 189,290 | |
$ | 1,940,377 | ||
Real Estate — 0.61% | |||
Alexander & Baldwin, Inc. | 11,728 | 194,450 | |
Douglas Elliman, Inc. | 9,398 | 38,532 | |
Kennedy-Wilson Holdings, Inc. | 19,996 | 309,138 | |
Marcus & Millichap, Inc. | 3,139 | 102,896 | |
McGrath RentCorp | 3,017 | 253,006 | |
Newmark Group, Inc., Class A | 29,093 | 234,490 | |
RMR Group, Inc., Class A | 3,174 | 75,192 | |
St. Joe Co. | 3,956 | 126,711 | |
$ | 1,334,415 | ||
REITs — 6.26% | |||
Alexander's, Inc. | 782 | 163,407 | |
Ares Commercial Real Estate Corp. | 22,967 | 240,005 | |
Brandywine Realty Trust | 63,732 | 430,191 | |
Broadstone Net Lease, Inc. | 30,496 | 473,603 | |
CareTrust REIT, Inc. | 27,912 | 505,486 | |
Corporate Office Properties Trust | 30,392 | 706,006 | |
CTO Realty Growth, Inc. | 4,732 | 88,678 | |
EPR Properties | 19,641 | 704,326 | |
Essential Properties Realty Trust, Inc. | 38,631 | 751,373 | |
Franklin BSP Realty Trust, Inc. | 22,229 | 239,406 |
See accompanying notes.
98
Schedule of Investments | |||
Principal U.S. Small-Cap Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
REITs (continued) | |||
Franklin Street Properties Corp. | 20,312 | $ | 53,421 |
GEO Group, Inc. (a) | 54,924 | 422,915 | |
Getty Realty Corp. | 13,521 | 363,580 | |
Highwoods Properties, Inc. | 37,474 | 1,010,299 | |
Industrial Logistics Properties Trust | 18,826 | 103,543 | |
KKR Real Estate Finance Trust, Inc. | 50,056 | 813,410 | |
LTC Properties, Inc. | 11,443 | 428,540 | |
LXP Industrial Trust | 112,180 | 1,027,569 | |
National Health Investors, Inc. | 11,391 | 643,933 | |
NexPoint Residential Trust, Inc. | 3,255 | 150,413 | |
One Liberty Properties, Inc. | 2,421 | 50,889 | |
PotlatchDeltic Corp. | 13,714 | 562,823 | |
Ready Capital Corp. | 63,589 | 644,792 | |
Retail Opportunity Investments Corp. | 50,921 | 700,673 | |
Saul Centers, Inc. | 1,184 | 44,400 | |
SITE Centers Corp. | 64,729 | 693,248 | |
SL Green Realty Corp. | 22,774 | 914,604 | |
Urban Edge Properties | 41,277 | 550,635 | |
Urstadt Biddle Properties, Inc., Class A | 7,849 | 121,738 | |
$ | 13,603,906 | ||
Retail — 7.56% | |||
Academy Sports & Outdoors, Inc. | 40,400 | 1,704,072 | |
Bassett Furniture Industries, Inc. | 993 | 15,570 | |
Beacon Roofing Supply, Inc. (a) | 13,189 | 721,702 | |
Bloomin' Brands, Inc. | 25,221 | 462,301 | |
BlueLinx Holdings, Inc. (a) | 2,768 | 171,893 | |
Boot Barn Holdings, Inc. (a) | 8,098 | 473,409 | |
Buckle, Inc. | 12,100 | 383,086 | |
Build-A-Bear Workshop, Inc. | 3,826 | 51,001 | |
Caleres, Inc. | 9,960 | 241,231 | |
Cato Corp., Class A | 2,999 | 28,610 | |
Cheesecake Factory, Inc. | 14,229 | 416,625 | |
Children's Place, Inc. (a) | 7,264 | 224,385 | |
Dave & Buster's Entertainment, Inc. (a) | 12,804 | 397,308 | |
Denny's Corp. (a) | 9,509 | 89,480 | |
Destination XL Group, Inc. (a) | 6,197 | 33,588 | |
Dillard's, Inc., Class A | 2,899 | 790,731 | |
Duluth Holdings, Inc., Class B (a) | 2,198 | 15,474 | |
Foot Locker, Inc. | 42,786 | 1,331,928 | |
Franchise Group, Inc. | 5,608 | 136,274 | |
Genesco, Inc. (a) | 2,534 | 99,637 | |
GMS, Inc. (a) | 6,080 | 243,261 | |
Group 1 Automotive, Inc. | 3,928 | 561,193 | |
Haverty Furniture Cos., Inc. | 4,965 | 123,629 | |
Hibbett, Inc. | 6,911 | 344,237 | |
Jack in the Box, Inc. | 11,492 | 851,212 | |
JOANN, Inc. | 4,062 | 26,890 | |
La-Z-Boy, Inc. | 9,857 | 222,472 | |
Movado Group, Inc. | 2,426 | 68,365 | |
MSC Industrial Direct Co., Inc., Class A | 21,655 | 1,576,701 | |
National Vision Holdings, Inc. (a) | 14,681 | 479,335 | |
Nu Skin Enterprises, Inc., Class A | 11,516 | 384,289 | |
Papa John's International, Inc. | 11,506 | 805,535 | |
Patrick Industries, Inc. | 6,068 | 266,021 | |
PC Connection, Inc. | 1,066 | 48,066 | |
PriceSmart, Inc. | 2,953 | 170,063 | |
Qurate Retail, Inc., Series A | 82,550 | 165,926 |
See accompanying notes.
99
Schedule of Investments | |||
Principal U.S. Small-Cap Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Retail (continued) | |||
Rush Enterprises, Inc., Class A | 6,303 | $ | 276,450 |
Ruth's Hospitality Group, Inc. | 4,882 | 82,311 | |
Sally Beauty Holdings, Inc. (a) | 24,002 | 302,425 | |
Shoe Carnival, Inc. | 4,675 | 100,232 | |
Signet Jewelers Ltd. | 18,660 | 1,067,165 | |
Sonic Automotive, Inc., Class A | 6,306 | 273,050 | |
Tilly's, Inc., Class A | 7,600 | 52,592 | |
TravelCenters of America, Inc. (a) | 2,061 | 111,150 | |
Winmark Corp. | 163 | 35,263 | |
$ | 16,426,138 | ||
Savings & Loans — 0.83% | |||
Brookline Bancorp, Inc. | 25,796 | 300,523 | |
Flushing Financial Corp. | 8,553 | 165,672 | |
Hingham Institution For Savings | 180 | 45,200 | |
Northfield Bancorp, Inc. | 10,559 | 151,099 | |
Pacific Premier Bancorp, Inc. | 17,989 | 556,939 | |
Provident Financial Services, Inc. | 25,895 | 504,953 | |
Southern Missouri Bancorp, Inc. | 1,569 | 80,066 | |
$ | 1,804,452 | ||
Semiconductors — 2.14% | |||
Aehr Test Systems (a),(b) | 14,565 | 205,366 | |
Alpha & Omega Semiconductor Ltd. (a) | 8,447 | 259,830 | |
Axcelis Technologies, Inc. (a) | 6,915 | 418,772 | |
Diodes, Inc. (a) | 7,131 | 462,873 | |
EMCORE Corp. (a) | 8,667 | 14,474 | |
MACOM Technology Solutions Holdings, Inc. (a) | 11,449 | 592,944 | |
MaxLinear, Inc. (a) | 10,192 | 332,463 | |
Onto Innovation, Inc. (a) | 5,836 | 373,796 | |
Photronics, Inc. (a) | 14,721 | 215,221 | |
Rambus, Inc. (a) | 25,773 | 655,150 | |
Semtech Corp. (a) | 11,044 | 324,804 | |
SiTime Corp. (a) | 2,907 | 228,868 | |
SMART Global Holdings, Inc. (a) | 23,064 | 366,026 | |
Veeco Instruments, Inc. (a) | 11,187 | 204,946 | |
$ | 4,655,533 | ||
Software — 4.87% | |||
Allscripts Healthcare Solutions, Inc. (a) | 48,514 | 738,868 | |
American Software, Inc., Class A | 2,858 | 43,785 | |
Blackbaud, Inc. (a) | 10,627 | 468,226 | |
Box, Inc., Class A (a) | 51,972 | 1,267,597 | |
Cerence, Inc. (a) | 19,469 | 306,637 | |
CommVault Systems, Inc. (a) | 12,684 | 672,759 | |
Computer Programs and Systems, Inc. (a) | 4,186 | 116,706 | |
CSG Systems International, Inc. | 13,376 | 707,323 | |
Definitive Healthcare Corp. (a) | 10,120 | 157,265 | |
Digi International, Inc. (a) | 5,856 | 202,442 | |
Donnelley Financial Solutions, Inc. (a) | 6,704 | 247,847 | |
DoubleVerify Holdings, Inc. (a) | 12,635 | 345,567 | |
Doximity, Inc., Class A (a) | 31,105 | 939,993 | |
Ebix, Inc. | 3,494 | 66,281 | |
Evolent Health, Inc., Class A (a) | 11,116 | 399,398 | |
Loyalty Ventures, Inc. (a),(b) | 8,079 | 9,776 | |
MeridianLink, Inc. (a) | 4,897 | 79,723 | |
N-able, Inc. (a) | 17,527 | 161,774 | |
NextGen Healthcare, Inc. (a) | 18,107 | 320,494 |
See accompanying notes.
100
Schedule of Investments | |||
Principal U.S. Small-Cap Multi-Factor ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Software (continued) | |||
PDF Solutions, Inc. (a) | 3,218 | $ | 78,938 |
Privia Health Group, Inc. (a) | 10,907 | 371,492 | |
Progress Software Corp. | 12,328 | 524,556 | |
Sciplay Corp., Class A (a) | 7,384 | 86,836 | |
Simulations Plus, Inc. | 2,543 | 123,437 | |
SPS Commerce, Inc. (a) | 3,845 | 477,664 | |
Tabula Rasa HealthCare, Inc. (a) | 15,175 | 72,840 | |
Verint Systems, Inc. (a) | 27,189 | 913,007 | |
Verra Mobility Corp. (a) | 27,792 | 427,163 | |
Xperi Holding Corp. | 18,696 | 264,361 | |
$ | 10,592,755 | ||
Telecommunications — 2.11% | |||
A10 Networks, Inc. | 24,970 | 331,352 | |
ADTRAN Holdings, Inc. | 21,569 | 422,321 | |
Clearfield, Inc. (a) | 3,480 | 364,147 | |
CommScope Holding Co., Inc. (a) | 107,550 | 990,535 | |
EchoStar Corp., Class A (a) | 9,964 | 164,107 | |
Extreme Networks, Inc. (a) | 38,886 | 508,240 | |
Gogo, Inc. (a) | 17,490 | 211,979 | |
Harmonic, Inc. (a) | 27,139 | 354,707 | |
InterDigital, Inc. | 8,187 | 330,919 | |
Telephone and Data Systems, Inc. | 37,691 | 523,905 | |
Viasat, Inc. (a) | 12,348 | 373,280 | |
$ | 4,575,492 | ||
Toys, Games & Hobbies — 0.07% | |||
Funko, Inc., Class A (a) | 7,966 | 161,073 | |
Transportation — 3.89% | |||
Air Transport Services Group, Inc. (a) | 12,793 | 308,183 | |
ArcBest Corp. | 9,145 | 665,116 | |
Atlas Air Worldwide Holdings, Inc. (a) | 21,419 | 2,047,014 | |
Daseke, Inc. (a) | 13,737 | 74,317 | |
Dorian LPG Ltd. | 13,742 | 186,479 | |
Eagle Bulk Shipping, Inc. | 5,018 | 216,677 | |
Forward Air Corp. | 4,538 | 409,600 | |
Genco Shipping & Trading Ltd. | 15,865 | 198,789 | |
Hub Group, Inc., Class A (a) | 7,020 | 484,240 | |
International Seaways, Inc. | 16,563 | 581,858 | |
Marten Transport Ltd. | 15,038 | 288,128 | |
Matson, Inc. | 10,337 | 635,932 | |
PAM Transportation Services, Inc. (a) | 1,189 | 36,811 | |
Pangaea Logistics Solutions Ltd. | 6,439 | 29,748 | |
Ryder System, Inc. | 19,413 | 1,465,487 | |
Saia, Inc. (a) | 993 | 188,670 | |
Schneider National, Inc., Class B | 30,855 | 626,357 | |
$ | 8,443,406 | ||
Trucking & Leasing — 0.28% | |||
GATX Corp. | 7,022 | 597,923 | |
Water — 0.54% | |||
American States Water Co. | 9,593 | 747,774 | |
Artesian Resources Corp., Class A | 1,364 | 65,636 | |
SJW Group | 6,272 | 361,267 | |
$ | 1,174,677 | ||
TOTAL COMMON STOCKS | $ | 216,394,311 |
See accompanying notes.
101
Schedule of Investments | ||||||||||||||
Principal U.S. Small-Cap Multi-Factor ETF | ||||||||||||||
September 30, 2022 (unaudited) | ||||||||||||||
INVESTMENT COMPANIES — 0.60% | Shares Held | Value | ||||||||||||
Money Market Funds — 0.60% | ||||||||||||||
Principal Government Money Market Fund — Institutional Class 2.80% (c),(d),(e) | 578,803 | $ | 578,803 | |||||||||||
State Street Institutional U.S. Government Money Market Fund — Institutional | ||||||||||||||
Class 0.80% (e) | 721,099 | 721,099 | ||||||||||||
TOTAL INVESTMENT COMPANIES | $ | 1,299,902 | ||||||||||||
Total Investments | $ | 217,694,213 | ||||||||||||
Other Assets and Liabilities — (0.19)% | (411,581 | ) | ||||||||||||
Total Net Assets — 100.00% | $ | 217,282,632 | ||||||||||||
(a) | Non-income producing security. | |||||||||||||
(b) | Security or a portion of the security was on loan. At the end of the period, the value of these securities totaled $553,799 or | |||||||||||||
0.25% of net assets. | ||||||||||||||
(c) | Affiliated Security. Security is either an affiliate (and registered under the Investment Company Act of 1940) or an affiliate | |||||||||||||
as defined by the Investment Company Act of 1940 (controls 5.00% or more of the outstanding voting shares of the security). | ||||||||||||||
Please see Affiliated Securities sub-schedule for transactional information. | ||||||||||||||
(d) | Security or a portion of the security was received as collateral for securities lending. At the end of the period, the value of | |||||||||||||
these securities totaled $578,803 or 0.27% of net assets. | ||||||||||||||
(e) | Current yield shown is as of period end. | |||||||||||||
Portfolio Summary (unaudited) | ||||||||||||||
Sector | Percent | |||||||||||||
Consumer, Non-cyclical | 24.11 | % | ||||||||||||
Financial | 23.85 | % | ||||||||||||
Consumer, Cyclical | 13.41 | % | ||||||||||||
Industrial | 13.09 | % | ||||||||||||
Technology | 9.68 | % | ||||||||||||
Energy | 6.32 | % | ||||||||||||
Communications | 3.62 | % | ||||||||||||
Utilities | 3.06 | % | ||||||||||||
Basic Materials | 2.45 | % | ||||||||||||
Money Market Funds | 0.60 | % | ||||||||||||
Other Assets and Liabilities | (0.19 | )% | ||||||||||||
TOTAL NET ASSETS | 100.00 | % | ||||||||||||
June 30, 2022 | Purchases | Sales | September 30, 2022 | |||||||||||
Affiliated Securities | Value | Cost | Proceeds | Value | ||||||||||
Principal Government Money | ||||||||||||||
Market Fund — Institutional Class | ||||||||||||||
2.80 | % | $ | 5,359,834 | $ | 13,762,230 | $ | 18,543,261 | $ | 578,803 | |||||
$ | 5,359,834 | $ | 13,762,230 | $ | 18,543,261 | $ | 578,803 | |||||||
Realized Gain | ||||||||||||||
Realized | from | Change in | ||||||||||||
Gain/(Loss) on | Capital Gain | Unrealized | ||||||||||||
Income (a) | Investments | Distributions | Gain/(Loss) | |||||||||||
Principal Government Money | ||||||||||||||
Market Fund — Institutional Class | ||||||||||||||
2.80 | % | $ | — | $ | — | $ | — | $ | — | |||||
$ | — | $ | — | $ | — | $ | — | |||||||
(a) | Amount excludes earnings from securities lending collateral. |
See accompanying notes. 102
Schedule of Investments | ||||
Principal Value ETF | ||||
September 30, 2022 (unaudited) | ||||
COMMON STOCKS — 99.34% | Shares Held | Value | ||
Advertising — 1.08% | ||||
Omnicom Group, Inc. | 15,460 | $ | 975,371 | |
Aerospace & Defense — 2.69% | ||||
Northrop Grumman Corp. | 2,529 | 1,189,439 | ||
Raytheon Technologies Corp. | 15,000 | 1,227,900 | ||
$ | 2,417,339 | |||
Agriculture — 3.70% | ||||
Altria Group, Inc. | 26,155 | 1,056,139 | ||
Archer-Daniels-Midland Co. | 13,779 | 1,108,520 | ||
Philip Morris International, Inc. | 14,068 | 1,167,785 | ||
$ | 3,332,444 | |||
Auto Parts & Equipment — 0.99% | ||||
BorgWarner, Inc. | 28,493 | 894,680 | ||
Banks — 7.80% | ||||
Bank of America Corp. | 50,404 | 1,522,201 | ||
M&T Bank Corp. | 6,298 | 1,110,463 | ||
Northern Trust Corp. | 10,835 | 927,043 | ||
PNC Financial Services Group, Inc. | 7,267 | 1,085,835 | ||
Wells Fargo & Co. | 35,934 | 1,445,266 | ||
Zions Bancorp NA | 18,341 | 932,823 | ||
$ | 7,023,631 | |||
Beverages — 3.89% | ||||
Coca-Cola Co. | 27,336 | 1,531,363 | ||
Constellation Brands, Inc., Class A | 4,602 | 1,056,987 | ||
Molson Coors Beverage Co., Class B | 18,985 | 911,090 | ||
$ | 3,499,440 | |||
Biotechnology — 2.68% | ||||
Amgen, Inc. | 5,658 | 1,275,313 | ||
Corteva, Inc. | 19,812 | 1,132,256 | ||
$ | 2,407,569 | |||
Chemicals — 3.19% | ||||
CF Industries Holdings, Inc. | 11,390 | 1,096,287 | ||
Eastman Chemical Co. | 11,043 | 784,605 | ||
FMC Corp. | 9,384 | 991,889 | ||
$ | 2,872,781 | |||
Computers — 7.60% | ||||
Accenture PLC, Class A | 5,267 | 1,355,199 | ||
Apple, Inc. | 24,999 | 3,454,862 | ||
International Business Machines Corp. | 9,530 | 1,132,259 | ||
Leidos Holdings, Inc. | 10,288 | 899,892 | ||
$ | 6,842,212 | |||
Construction Materials — 1.20% | ||||
Johnson Controls International PLC | 21,974 | 1,081,560 | ||
Diversified Financial Services — 4.37% | ||||
American Express Co. | 8,323 | 1,122,856 | ||
Franklin Resources, Inc. | 40,957 | 881,394 | ||
Invesco Ltd. | 59,041 | 808,862 | ||
Raymond James Financial, Inc. | 11,310 | 1,117,654 | ||
$ | 3,930,766 |
See accompanying notes.
103
Schedule of Investments | |||
Principal Value ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
Electronics — 1.34% | |||
Honeywell International, Inc. | 7,248 | $ | 1,210,199 |
Food — 5.97% | |||
Conagra Brands, Inc. | 31,286 | 1,020,862 | |
General Mills, Inc. | 15,803 | 1,210,668 | |
Hershey Co. | 4,958 | 1,093,090 | |
J M Smucker Co. | 8,011 | 1,100,792 | |
Sysco Corp. | 13,400 | 947,514 | |
$ | 5,372,926 | ||
Household Products/Wares — 1.13% | |||
Clorox Co. | 7,936 | 1,018,903 | |
Insurance — 4.41% | |||
Arthur J Gallagher & Co. | 6,877 | 1,177,480 | |
Assurant, Inc. | 5,673 | 824,117 | |
Cincinnati Financial Corp. | 8,587 | 769,137 | |
Marsh & McLennan Cos., Inc. | 8,003 | 1,194,768 | |
$ | 3,965,502 | ||
Machinery — Construction & Mining — 1.17% | |||
Caterpillar, Inc. | 6,426 | 1,054,378 | |
Machinery — Diversified — 3.53% | |||
Deere & Co. | 3,729 | 1,245,076 | |
Dover Corp. | 8,392 | 978,339 | |
Otis Worldwide Corp. | 14,928 | 952,407 | |
$ | 3,175,822 | ||
Media — 1.02% | |||
Fox Corp., Class A | 29,860 | 916,105 | |
Oil & Gas — 4.17% | |||
Chevron Corp. | 12,002 | 1,724,327 | |
Hess Corp. | 9,922 | 1,081,399 | |
Phillips 66 | 11,736 | 947,330 | |
$ | 3,753,056 | ||
Oil & Gas Services — 1.19% | |||
Schlumberger NV | 29,704 | 1,066,374 | |
Packaging & Containers — 2.72% | |||
Amcor PLC | 84,424 | 905,869 | |
Packaging Corp. of America | 6,971 | 782,774 | |
Sealed Air Corp. | 17,060 | 759,341 | |
$ | 2,447,984 | ||
Pharmaceuticals — 9.26% | |||
AmerisourceBergen Corp. | 7,038 | 952,453 | |
Becton Dickinson and Co. | 4,822 | 1,074,486 | |
Cardinal Health, Inc. | 19,281 | 1,285,657 | |
CVS Health Corp. | 14,463 | 1,379,337 | |
Johnson & Johnson | 13,320 | 2,175,955 | |
Organon & Co. | 28,703 | 671,650 | |
Viatris, Inc. | 93,029 | 792,607 | |
$ | 8,332,145 | ||
Pipelines — 1.12% | |||
Williams Cos., Inc. | 35,195 | 1,007,633 |
See accompanying notes.
104
Schedule of Investments | |||
Principal Value ETF | |||
September 30, 2022 (unaudited) | |||
COMMON STOCKS (continued) | Shares Held | Value | |
REITs — 8.44% | |||
Essex Property Trust, Inc. | 3,839 | $ | 929,921 |
Kimco Realty Corp. | 51,426 | 946,753 | |
Public Storage | 3,581 | 1,048,552 | |
Realty Income Corp. | 16,120 | 938,184 | |
Regency Centers Corp. | 16,716 | 900,156 | |
Simon Property Group, Inc. | 10,764 | 966,069 | |
Ventas, Inc. | 20,310 | 815,853 | |
VICI Properties, Inc. | 35,108 | 1,047,974 | |
$ | 7,593,462 | ||
Retail — 5.04% | |||
Genuine Parts Co. | 7,731 | 1,154,393 | |
McDonald's Corp. | 6,215 | 1,434,049 | |
Ross Stores, Inc. | 13,556 | 1,142,364 | |
Walgreens Boots Alliance, Inc. | 25,698 | 806,917 | |
$ | 4,537,723 | ||
Semiconductors — 1.54% | |||
Texas Instruments, Inc. | 8,981 | 1,390,079 | |
Shipbuilding — 1.17% | |||
Huntington Ingalls Industries, Inc. | 4,770 | 1,056,555 | |
Software — 4.00% | |||
Jack Henry & Associates, Inc. | 5,611 | 1,022,717 | |
Microsoft Corp. | 11,058 | 2,575,408 | |
$ | 3,598,125 | ||
Telecommunications — 2.03% | |||
Corning, Inc. | 31,554 | 915,697 | |
Juniper Networks, Inc. | 34,829 | 909,734 | |
$ | 1,825,431 | ||
Toys, Games & Hobbies — 0.90% | |||
Hasbro, Inc. | 11,963 | 806,545 | |
TOTAL COMMON STOCKS | $ | 89,406,740 | |
INVESTMENT COMPANIES — 0.45% | Shares Held | Value | |
Money Market Fund — 0.45% | |||
State Street Institutional U.S. Government Money Market Fund — Institutional | |||
Class 0.80% (a) | 404,114 | $ | 404,114 |
TOTAL INVESTMENT COMPANIES | $ | 404,114 | |
Total Investments | $ | 89,810,854 | |
Other Assets and Liabilities — 0.21% | 191,041 | ||
Total Net Assets — 100.00% | $ | 90,001,895 | |
(a) Current yield shown is as of period end. |
See accompanying notes. 105
Schedule of Investments |
Principal Value ETF |
September 30, 2022 (unaudited) |
Portfolio Summary (unaudited) |
Sector | Percent | |
Consumer, Non-cyclical | 26.63 | % |
Financial | 25.01 | % |
Industrial | 13.83 | % |
Technology | 13.15 | % |
Consumer, Cyclical | 6.93 | % |
Energy | 6.47 | % |
Communications | 4.13 | % |
Basic Materials | 3.19 | % |
Money Market Fund | 0.45 | % |
Other Assets and Liabilities | 0.21 | % |
TOTAL NET ASSETS | 100.00 | % |
See accompanying notes.
106
Principal Exchange-Traded Funds
September 30, 2022 (unaudited)
1. Security Valuation
The Funds may invest in series of Principal Funds, Inc. and other investment funds, which may include money market funds and other registered open-end investment companies. Investments in registered open-end investment companies are valued at the respective fund's closing net asset value ("NAV") per share on the day of valuation.
The Funds value securities for which market quotations are readily available at fair value, which is determined using the last reported sale price. If no sales are reported, as is regularly the case for some securities traded over-the-counter, securities are valued using the last reported bid price or an evaluated bid price provided by a pricing service. Pricing services use modeling techniques that incorporate security characteristics such as current quotations by broker/dealers, coupon, maturity, quality, type of issue, trading characteristics, other yield and risk factors and other market conditions to determine an evaluated bid price. When reliable market quotations are not considered to be readily available, which may be the case, for example, with respect to restricted securities, certain debt securities, preferred stocks, and foreign securities, the investments are valued at their fair value as determined in good faith by the Principal Global Investors, LLC ("the Advisor") under procedures established and periodically reviewed by the Board of Trustees.
The value of foreign securities used in computing the NAV per share is generally determined as of the close of the foreign exchange where the security is principally traded. Events that occur after the close of the applicable foreign market or exchange but prior to the calculation of the Fund’s NAV are reflected in the Fund’s NAV and these securities are valued at fair value. Many factors, provided by independent pricing services, are reviewed in the course of making a good faith determination of a security’s fair value including, but not limited to, price movements in American Depository Receipts (“ADRs”), futures contracts, industry indices, general indices, and foreign currencies.
To the extent the Funds invest in foreign securities listed on foreign exchanges which trade on days on which the Funds do not determine NAV, for example, weekends and other customary national U.S. holidays, the Fund’s NAV could be significantly affected on days when shares are not able to be issued or redeemed by Authorized Participants (“APs”).
Certain securities issued by companies in emerging market countries may have more than one quoted valuation at any given point in time, sometimes referred to as a “local” price and a “premium” price. The premium price is often a negotiated price, which may not consistently represent a price at which a specific transaction can be effected. It is the policy of the Funds to value such securities at prices at which it is expected those shares may be sold, and the Advisor, or any sub-advisor, is authorized to make such determinations subject to such oversight by the Board of Trustees, as may occasionally be necessary.
2. Fair Valuation
Fair value is defined as the price that the Funds would receive upon selling a security or transferring a liability in a timely transaction to an independent buyer in the principal or most advantageous market of the security at the measurement date. In determining fair value, the Funds may use one or more of the following approaches: market, income and/or cost. A hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available.
Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Funds. Unobservable inputs are inputs that reflect the Fund’s own estimates about the estimates market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.
The three-tier hierarchy of inputs is summarized in the three broad levels listed below.
Level 1 — Quoted prices are available in active markets for identical securities as of the reporting date. Investments which are generally included in this category include listed equities and listed derivatives.
Level 2 — Other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.). Investments which are generally included in this category include certain corporate bonds, senior floating rate interests, over-the-counter (“OTC”) derivatives, mortgage-backed securities and municipal bonds.
107
Principal Exchange-Traded Funds
September 30, 2022 (unaudited) (continued)
2. Fair Valuation (continued)
Level 3 — Significant unobservable inputs (including the Funds’ assumptions in determining the fair value of investments). Investments which are generally included in this category include certain corporate bonds and certain common stocks.
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the market place, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Funds in determining fair value is greatest for instruments categorized in Level 3.
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety.
Fair value is a market based measure considered from the perspective of a market participant who holds the asset rather than an entity specific measure. Therefore, even when market assumptions are not readily available, the Funds’ own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. The Funds use prices and inputs that are current as of the measurement date, to the extent available.
Investments which are included in the Level 3 category may be valued using quoted prices from brokers and dealers participating in the market for these investments. These investments are classified as Level 3 investments due to the lack of market transparency and market corroboration to support these quoted prices.
Valuation models may be used as the pricing source for other investments classified as Level 3. Valuation models rely on one or more significant unobservable inputs such as prepayment rates, probability of default, or loss severity in the event of default. Significant increases in any of those inputs in isolation would result in a significantly lower fair value measurement.
The fair values of these entities are dependent on economic, political and other considerations. The values of the underlying investee entities may be affected by significant changes in the economic conditions, changes in government policies, and other factors (e.g., natural disasters, pandemics, accidents, conflicts, etc.).
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those instruments.
During the period there were no significant purchases, sales, or transfers into or out of Level 3.
The following is a summary of the inputs used as of September 30, 2022, in valuing the Funds' securities carried at fair value:
Level 2 — | ||||||||
Other | Level 3 — | |||||||
Level 1 — | Significant | Significant | ||||||
Quoted | Observable | Unobservable | ||||||
Fund | Prices | Inputs | Inputs | Totals (Level 1,2,3) | ||||
Principal Active High Yield ETF | ||||||||
Bonds* | $ | — $ | 197,447,435 | $ | — $ | 197,447,435 | ||
Senior Floating Rate Interests* | — | 15,396,407 | — | 15,396,407 | ||||
Investment Companies | 9,964,114 | — | — | 9,964,114 | ||||
Total investments in securities | $ | 9,964,114 | $ | 212,843,842 | $ | — $ | 222,807,956 |
108
Principal Exchange-Traded Funds | |||||||||
September 30, 2022 (unaudited) (continued) | |||||||||
2. Fair Valuation (continued) | |||||||||
Level 2 — | |||||||||
Other | Level 3 — | ||||||||
Level 1 — | Significant | Significant | |||||||
Quoted | Observable | Unobservable | |||||||
Fund | Prices | Inputs | Inputs | Totals (Level 1,2,3) | |||||
Principal Healthcare Innovators ETF | |||||||||
Common Stocks* | $ | 58,178,298 | $ | — $ | — $ | 58,178,298 | |||
Investment Companies | 1,968,682 | — | — | 1,968,682 | |||||
Total investments in securities | $ | 60,146,980 | $ | — $ | — $ | 60,146,980 | |||
Principal International Adaptive Multi-Factor ETF | |||||||||
Common Stocks* | |||||||||
Basic Materials | $ | 693,077 | $ | — $ | — $ | 693,077 | |||
Communications | 670,026 | — | — | 670,026 | |||||
Consumer, Cyclical | 1,151,113 | — | — | 1,151,113 | |||||
Consumer, Non-cyclical | 2,768,832 | — | — | 2,768,832 | |||||
Diversified | 25,557 | — | — | 25,557 | |||||
Energy | 729,838 | — | — | 729,838 | |||||
Financial | 2,219,911 | 10,442 | — | 2,230,353 | |||||
Industrial | 1,237,628 | — | — | 1,237,628 | |||||
Technology | 580,052 | — | — | 580,052 | |||||
Utilities | 508,437 | — | — | 508,437 | |||||
Preferred Stocks* | 27,563 | — | — | 27,563 | |||||
Investment Companies | 36,406 | — | — | 36,406 | |||||
Total investments in securities | $ | 10,648,440 | $ | 10,442 | $ | — $ | 10,658,882 | ||
Principal Investment Grade Corporate Active ETF | |||||||||
Bonds* | $ | — $ | 64,036,945 | $ | — $ | 64,036,945 | |||
Investment Companies | 5,815,011 | — | — | 5,815,011 | |||||
Total investments in securities | $ | 5,815,011 | $ | 64,036,945 | $ | — $ | 69,851,956 | ||
Derivative Assets | |||||||||
Interest rate contracts | |||||||||
Futures | $ | 44,389 | $ | — $ | — $ | 44,389 | |||
Derivative Liabilities | |||||||||
Interest rate contracts | |||||||||
Futures | $ | (135,902 | ) $ | — $ | — $ | (135,902 | ) | ||
Principal Millennial Global Growth ETF | |||||||||
Common Stocks* | $ | 20,310,894 | $ | — $ | — $ | 20,310,894 | |||
Investment Companies | 399,977 | — | — | 399,977 | |||||
Total investments in securities | $ | 20,710,871 | $ | — $ | — $ | 20,710,871 | |||
Principal Quality ETF | |||||||||
Common Stocks* | $ | 31,238,649 | $ | — $ | — $ | 31,238,649 | |||
Investment Companies | 74,105 | — | — | 74,105 | |||||
Total investments in securities | $ | 31,312,754 | $ | — $ | — $ | 31,312,754 | |||
Principal Real Estate Active Opportunities ETF | |||||||||
Common Stocks* | $ | 4,752,848 | $ | — $ | — $ | 4,752,848 | |||
Investment Companies | 124,473 | — | — | 124,473 | |||||
Total investments in securities | $ | 4,877,321 | $ | — $ | — $ | 4,877,321 | |||
Principal Spectrum Preferred Securities Active ETF | |||||||||
Bonds* | $ | — $ | 318,557,228 | $ | — $ | 318,557,228 | |||
Investment Companies | 16,194,926 | — | — | 16,194,926 | |||||
Total investments in securities | $ | 16,194,926 | $ | 318,557,228 | $ | — $ | 334,752,154 | ||
Principal Spectrum Tax-Advantaged Dividend Active ETF | |||||||||
Preferred Stocks* | $ | 2,440,497 | $ | — $ | — $ | 2,440,497 | |||
Bonds* | — | 17,478,236 | — | 17,478,236 | |||||
Investment Companies | 407,069 | — | — | 407,069 | |||||
Total investments in securities | $ | 2,847,566 | $ | 17,478,236 | $ | — $ | 20,325,802 |
109
Principal Exchange-Traded Funds | ||||||||
September 30, 2022 (unaudited) (continued) | ||||||||
2. Fair Valuation (continued) | ||||||||
Level 2 — | ||||||||
Other | Level 3 — | |||||||
Level 1 — | Significant | Significant | ||||||
Quoted | Observable | Unobservable | ||||||
Fund | Prices | Inputs | Inputs | Totals (Level 1,2,3) | ||||
Principal Ultra-Short Active Income ETF | ||||||||
Bonds* | $ | — $ | 7,351,746 | $ | — $ | 7,351,746 | ||
Investment Companies | 585,582 | — | — | 585,582 | ||||
U.S. Government & Government Agency | ||||||||
Obligations | — | 498,303 | — | 498,303 | ||||
Total investments in securities | $ | 585,582 | $ | 7,850,049 | $ | — $ | 8,435,631 | |
Principal U.S. Large-Cap Adaptive Multi-Factor ETF | ||||||||
Common Stocks* | ||||||||
Basic Materials | $ | 82,568 | $ | — $ | — $ | 82,568 | ||
Communications | 607,866 | — | — | 607,866 | ||||
Consumer, Cyclical | 477,549 | — | — | 477,549 | ||||
Consumer, Non-cyclical | 1,419,208 | — | — | 1,419,208 | ||||
Energy | 231,790 | — | — | 231,790 | ||||
Financial | 799,622 | — | — | 799,622 | ||||
Industrial | 474,039 | — | — | 474,039 | ||||
Technology | 1,024,262 | 8,000 | — | 1,032,262 | ||||
Utilities | 276,974 | — | — | 276,974 | ||||
Investment Companies | 15,201 | — | — | 15,201 | ||||
Total investments in securities | $ | 5,409,079 | $ | 8,000 | $ | — $ | 5,417,079 | |
Principal U.S. Mega-Cap ETF | ||||||||
Common Stocks* | $ | 997,187,265 | $ | — $ | — $ | 997,187,265 | ||
Investment Companies | 2,867,394 | — | — | 2,867,394 | ||||
Total investments in securities | $ | 1,000,054,659 | $ | — $ | — $ | 1,000,054,659 | ||
Principal U.S. Small-Cap Adaptive Multi-Factor ETF | ||||||||
Common Stocks* | $ | 5,103,311 | $ | — $ | — $ | 5,103,311 | ||
Investment Companies | 11,188 | — | — | 11,188 | ||||
Total investments in securities | $ | 5,114,499 | $ | — $ | — $ | 5,114,499 | ||
Principal U.S. Small-Cap Multi-Factor ETF | ||||||||
Common Stocks* | $ | 216,394,311 | $ | — $ | — $ | 216,394,311 | ||
Investment Companies | 1,299,902 | — | — | 1,299,902 | ||||
Total investments in securities | $ | 217,694,213 | $ | — $ | — $ | 217,694,213 | ||
Principal Value ETF | ||||||||
Common Stocks* | $ | 89,406,740 | $ | — $ | — $ | 89,406,740 | ||
Investment Companies | 404,114 | — | — | 404,114 | ||||
Total investments in securities | $ | 89,810,854 | $ | — $ | — $ | 89,810,854 | ||
* For additional detail regarding sector classifications, please see the Schedules of Investments. |
The Funds’ Schedules of Investments for the period ended September 30, 2022 has not been audited. This report is provided for the general information of the Funds’ shareholders. For more information regarding the Funds and their holdings, please see the Funds' prospectus.
110