# Principal Asset Management

> Principal Asset Management is an SEC-registered investment advisory firm in Des Moines, IA, registered since 1998, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated May 28, 2026.

- CRD: 109002
- Filed as: PRINCIPAL ASSET MANAGEMENT
- Legal name: Principal Global Investors, LLC
- Also doing business as: PRINCIPAL ALIGNED, PRINCIPAL ALTERNATIVE CREDIT, PRINCIPAL ASSET ALLOCATION, PRINCIPAL DYNAMIC GROWTH, PRINCIPAL EDGE, PRINCIPAL EQUITIES, PRINCIPAL FINISTERRE, PRINCIPAL FIXED INCOME, PRINCIPAL INVESTMENT SOLUTIONS, PRINCIPAL MORLEY
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Des Moines, IA
- Filing period: October 2026
- Form ADV filing dated: May 28, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/109002
- AdvisorCensus page: https://advisorcensus.com/firm/principal-asset-management-des-moines-ia-109002

## Quick answers

**How is Principal Asset Management compensated?**
On its Form ADV (Item 5.E, October 2026), Principal Asset Management reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees; other. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Principal Asset Management located?**
Principal Asset Management's principal office is in Des Moines, IA, according to its Form ADV; the June 2026 filing also lists 19 other offices (Schedule D, Section 1.F).

**Is Principal Asset Management registered with the SEC or a state?**
Principal Asset Management is an SEC-registered investment advisory firm, registered since 1998. Status as filed: Approved. CRD 109002.

**How much does Principal Asset Management manage?**
Principal Asset Management reports $427,712,721,629 in regulatory assets under management in its Form ADV filing dated May 28, 2026 (98% discretionary).

**How have Principal Asset Management's assets and staff changed since 2021?**
In the Form ADV data for Principal Asset Management: Regulatory assets under management: $391,962,559,835 in the October 2021 data and $427,712,721,629 in the October 2026 data, up 9%. Total employees: 1,775 in October 2021 and 1,394 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Principal Asset Management serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (6,014); corporations or other businesses not listed above (951); pension and profit sharing plans (but not the plan participants or government pension plans) (578).

**Which custodians does Principal Asset Management use?**
Principal Asset Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Bank of New York Mellon and State Street Bank & Trust as custodians holding 10% or more of its separately managed account assets.

**Does Principal Asset Management report any disciplinary disclosures?**
Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation) and 11.D(4) (another regulator's order in the past ten years). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/109002

**What changed in Principal Asset Management's recent Form ADV filings?**
In the April 2026 filing data: No longer lists the business name Principal Global Advisors. Employees performing advisory functions went from 324 to 337. Regulatory assets under management went from $364,035,359,901 to $427,712,721,629 (+17%). Changed its office addresses in Miami, FL. Changed its office addresses in Minneapolis, MN. Changed its office addresses in Singapore. Added an office in Las Condes, Santiago. Added an office in Sao Paulo. No longer lists an office in Greater London. No longer lists an office in Jacksonville, FL. No longer lists an office in London. No longer lists an office in Los Angeles, CA. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees
- Other

### Custodians (Schedule D, Section 5.K(3))
- Bank of New York Mellon
- State Street Bank & Trust

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $427,712,721,629
- Discretionary: $419,245,584,914
- Non-discretionary: $8,467,136,715

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 6,014 | $2,109,595,374 |
| High net worth individuals | 315 | $969,682,346 |
| Banking or thrift institutions | 37 | $8,497,534,123 |
| Investment companies | 101 | $150,645,770,950 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 29 | $39,989,121,676 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 578 | $41,042,340,874 |
| Charitable organizations | 30 | $2,037,675,779 |
| State or municipal government entities (including government pension plans) | 78 | $5,535,672,722 |
| Other investment advisers | Fewer than 5 | $0 |
| Insurance companies | 60 | $145,344,206,065 |
| Sovereign wealth funds and foreign official institutions | 12 | $14,280,129,773 |
| Corporations or other businesses not listed above | 951 | $17,260,991,947 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)
- Educational seminars/workshops
- Other

### Firm details
- Registered since: 1998 (27 years)
- Employees: 1,394 total, 337 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports 2 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.D(4): In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/109002

### Other offices (Schedule D, Section 1.F), as of the June 2026 filing
- Atlanta, GA
- Charlotte, NC
- Chicago, IL
- Chiyoda-Ku,tokyo
- Denver, CO
- Lake Oswego, OR
- Las Condes, Santiago
- London
- Miami, FL
- Minneapolis, MN
- New York, NY
- Raleigh, NC
- Roseville, CA
- Sao Paulo
- Seattle, WA
- Singapore
- Stamford, CT
- Wanchai
- West des Moines, IA

### Websites listed on Form ADV (Item 1.I)
- principalam.com
- principalcef.com
- LinkedIn @principal-asset-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $391,962,559,835 | 1,775 | April 15, 2021 |
| October 2022 | $340,213,907,511 | 1,835 | April 22, 2022 |
| October 2023 | $279,108,496,692 | 1,925 | April 6, 2023 |
| October 2024 | $377,222,976,882 | 1,955 | August 23, 2024 |
| October 2025 | $364,035,359,901 | 1,350 | May 20, 2025 |
| October 2026 | $427,712,721,629 | 1,394 | May 28, 2026 |

Regulatory assets under management: $391,962,559,835 in the October 2021 data and $427,712,721,629 in the October 2026 data, up 9%.
Total employees: 1,775 in October 2021 and 1,394 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- No longer lists the business name Principal Global Advisors.
- Employees performing advisory functions went from 324 to 337.
- Regulatory assets under management went from $364,035,359,901 to $427,712,721,629 (+17%).
- Changed its office addresses in Miami, FL.
- Changed its office addresses in Minneapolis, MN.
- Changed its office addresses in Singapore.
- Added an office in Las Condes, Santiago.
- Added an office in Sao Paulo.
- No longer lists an office in Greater London.
- No longer lists an office in Jacksonville, FL.
- No longer lists an office in London.
- No longer lists an office in Los Angeles, CA.
- Updated its list of owners and control persons (Schedule A).

### February 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Principal Asset Management (CRD 109002): Form ADV filing data as of October 2026.