PRINCIPAL FINANCIAL GROUP INC

Principal Financial Group reported $187.2B across 4,452 holdings for Q1 2026, down from $195.9B. Less tech-concentrated than most peers of its size, Principal's top names span NVIDIA (3.69%), Microsoft (2.97%), Apple (2.89%) but also Brookfield Corp (1.38%), TransDigm (1.25%) and Hilton (1.07%). The quarter trimmed Microsoft (-$1.6B), KKR and Hilton while building Equinix (+$445M) and new positions in Johnson & Johnson ($824M), LPL Financial ($793M), Regency Centers ($757M) and Walmart ($737M).