SAM Flexible Income Portfolio
Actively managed U.S. stock fund
As of its 2026 Q2 report, SAM Flexible Income Portfolio held 26 positions with $2.17B in net assets. Its ten largest holdings made up 76.9% of the fund. The SAUPX share class costs 1% a year. Over the 12 months to May 2026, SAUPX returned 10.5%, with dividends reinvested. In 2026 Q3 it added 3 new positions and exited 3.
The Fund seeks to provide a high level of total return (consisting of reinvestment of income with some capital appreciation).
The fund operates as a fund of funds, investing in a diversified portfolio of underlying mutual funds and exchange-traded funds across fixed-income, equity, and specialty strategies. The portfolio manager allocates assets within predetermined ranges—typically 55% to 95% in fixed-income funds, 5% to 45% in equity funds, and up to 20% in specialty funds—based on economic outlook and market valuations, with no single underlying fund exceeding specified concentration limits. Because returns depend on the selection and performance of the underlying funds held, fund performance will diverge from any single index or asset class benchmark. The manager may temporarily exceed stated allocation ranges when deemed appropriate.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
PICNXCore Fixed Income Fund | 29.53% | $640.17M | 74.3M | $8.62 |
PFUMXFinisterre Emerging Markets Total Return Bond Fund | 9.57% | $207.49M | 21.5M | $9.65 |
Principal Funds, Inc - Government Money Market Fund - Class R-6 | 6.75% | $146.31M | — | — |
PNIIXBond Market Index Fund | 6.13% | $132.95M | 15.6M | $8.55 |
Principal U.S. Mega-Cap ETF | 5.53% | $119.90M | 1.7M | $70.40 |
PSHIXShort-Term Income Fund | 4.43% | $95.97M | 7.9M | $12.10 |
PIPIXInflation Protection Fund | 4.12% | $89.28M | 11.5M | $7.79 |
Principal International Equity ETF | 3.69% | $79.95M | 2.3M | $34.97 |
PMRIXGovernment & High Quality Bond Fund | 3.62% | $78.41M | 8.6M | $9.09 |
Equity Income Fund | 3.55% | $76.97M | 1.7M | $44.59 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
All 26 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 48.03% |
| Stocks | 26.74% |
| Securitized | 14.25% |
| Cash & short-term | 10.57% |
| 2 smaller | 0.24% |
| Derivatives | -0.25% |
Look-through blends 24 underlying funds; 0.0% of NAV was not looked through and stays direct-classified.
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
How it has done
SAUPX share class · total returns with dividends reinvested
Volatility over the last 12 months: 4.92%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 8 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.00% | +10.54% | +27.64% | +16.77% | -5.39% | |
| 1.79% | +9.60% | +24.52% | +12.27% | -5.64% | |
| 0.73% | +10.89% | +28.67% | +18.44% | -5.43% | |
| 1.26% | +10.25% | +26.64% | +15.31% | -5.49% | |
| — | — | — | — | — | |
| — | — | — | — | — | |
| 0.95% | +10.63% | +27.79% | +17.19% | -5.41% | |
| 0.85% | +10.63% | +28.16% | +17.73% | -5.39% |
Fees & fund details
SAM Flexible Income Portfolio is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Fund of funds
- Expense ratio, by class
- 0.73% – 1.79%· SAUPX 1.00%
- Portfolio turnover
- 23.90% a year · as of 2026 Q1
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
3 new
3 exited· the largest 2
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
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