SmallCap Growth Fund I
Principal Funds, Inc · 5 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
SmallCap Growth Fund I is an actively managed U.S. equity fund. 41% of PPNMX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 86% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2026 Q1
The Fund seeks long-term growth of capital.
The fund is primarily actively managed by sub-advisors, which invest at least 80% of assets in growth equity securities of small-capitalization companies within the Russell 2000 Index range and included in at least one of the MSCI All Country World IMI Growth Index, S&P 1500 Growth Index, or Russell 3000 Growth Index. Principal Global Investors may also invest up to 30% of assets using an index sampling strategy to match the Russell 2000 Growth Index. Because the fund uses index sampling for a portion of its holdings, performance may diverge from the Russell 2000 Growth Index.
| Share class | Gross | Net |
|---|---|---|
| PPNMX | 1.46% | 1.44% |
| PPNPX | 1.15% | 1.13% |
| PGRTX | 1.00% | 0.98% |
| PSIJX | 1.16% | 1.14% |
| PCSMX | 0.90% | 0.87% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 70.10% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 97.24% |
| Cash & short-term | 4.01% |
| Derivatives | 0.00% |
Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Industrials | 26.6% |
| Information Technology | 24.4% |
| Health Care | 20.5% |
| Financials | 7.9% |
| 10 smaller | 20.6% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| — | — | — | — | — | |
| +43.70% | +57.88% | +17.66% | 17.89% | -18.24% | |
| +44.27% | +59.39% | +19.52% | 17.90% | -18.16% | |
| — | — | — | — | — | |
| +44.48% | +60.03% | +20.36% | 17.85% | -18.13% | |
| +44.25% | +59.24% | +19.40% | 17.94% | -18.20% | |
| +44.60% | +60.59% | +21.04% | 17.84% | -18.08% |
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | Principal Funds, Inc - Government Money Market Fund - Class R-6 | 3.92% | — | $91.89M | — |
| BE | Bloom Energy CorpBE | 2.90% | $283.36 | $68.14M | 240.5K |
| CRDO | Credo Technology Group Holding LtdCRDO | 1.77% | $174.01 | $41.46M | 238.2K |
| MOD | Modine Manufacturing CoMOD | 1.64% | $254.63 | $38.50M | 151.2K |
| FN | FabrinetFN | 1.61% | $683.47 | $37.89M | 55.4K |
| TTMI | TTM Technologies IncTTMI | 1.44% | $158.22 | $33.77M | 213.4K |
| GH | Guardant Health IncGH | 1.40% | $87.08 | $32.74M | 376.0K |
| SITM | SiTime CorpSITM | 1.31% | $562.15 | $30.72M | 54.7K |
| ESE | ESCO Technologies IncESE | 1.15% | $323.95 | $27.09M | 83.6K |
| SPXC | SPX Technologies IncSPXC | 1.14% | $218.91 | $26.68M | 121.9K |
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.
Top 10 positions are 18.27% of net assets, top 25 31.15%, across 1.2K issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
Sign in free