PPNSX — SmallCap Growth Fund I
Data updated: 2026-09-25
PPNSX — SmallCap Growth Fund I. United States Small Cap Growth Equity · $2.48B AUM · 1.25% expense ratio. Holdings, fees, performance and SEC filings.
PPNSX Fund Overview
PPNSX — SmallCap Growth Fund I is a US mutual fund managed by Principal Funds, Inc., categorised as United States Small Cap Growth Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Principal Funds, Inc.
- Category: United States Small Cap Growth Equity
- Assets under management: $2.48B
- 1-year return: 34.7%
- Ticker: PPNSX
- SEC CIK: 0000898745
- SEC series ID: S000007175
- Share class ID: C000019629
PPNSX Investment Objective and Strategy
SmallCap Growth Fund I describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Principal Funds, Inc..
Investment objective
The Fund seeks long-term growth of capital.
Principal investment strategy
Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies with small market capitalizations at the time of purchase. For this Fund, companies with small market capitalizations are those with market capitalizations equal to or smaller than the greater of: 1) $6.0 billion or 2) the highest market capitalization of the companies comprising the Russell 2000 Growth Index (as of December 31, 2017 , this range was between approximately $22.5 million and $9.3 billion ). The Fund invests in growth equity securities; growth orientation emphasizes buying equity securities of companies whose potential for growth of capital and earnings is expected to be above average. Principal Global Investors, LLC invests up to 30% of the Fund's assets in equity securities in an attempt to match or exceed the performance of the Russell 2000 Growth Index by purchasing securities in the index while slightly overweighting and underweighting certain individual equity securities relative to their weight in the index.
The Fund's remaining assets are managed by the sub-advisors.
PPNSX Holdings
Top 10 holdings of SmallCap Growth Fund I by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Principal Funds, Inc - Government Money Market Fund - Class R-6 | 3.43% |
| Guardant Health Inc | 1.35% |
| ESCO Technologies Inc | 1.14% |
| Oceaneering International Inc | 1.07% |
| BrightSpring Health Services Inc | 1.00% |
| Plexus Corp | 0.97% |
| Cogent Biosciences Inc | 0.96% |
| Enpro Inc | 0.93% |
| Travere Therapeutics Inc | 0.91% |
| Rush Street Interactive Inc | 0.91% |
PPNSX Portfolio Allocation
Asset-class allocation of SmallCap Growth Fund I by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.6% |
| Cash & Equivalents | 3.5% |
PPNSX Performance
Total returns for PPNSX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 34.7% |
| 3 years (annualised) | -4.1% |
| 5 years (annualised) | 8.6% |
PPNSX Risk Information
Risk metrics for PPNSX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 17.6%
PPNSX Costs and Fees
PPNSX costs about $125 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.25%
- Gross expense ratio: 1.27%
- Portfolio turnover: 70%
- Brokerage commissions: 7.79 bps of average net assets (SEC N-CEN)
PPNSX Cashflows
Over the 12 months to 2026-04, SmallCap Growth Fund I had net outflows of $75.46M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | −$16.53M |
| 2026-03 | −$20.20M |
| 2026-02 | −$20.76M |
| 2026-01 | −$24.85M |
| 2025-12 | $164.85M |
| 2025-11 | −$15.50M |
PPNSX Debt Constituents
No individual debt constituents are reported in SmallCap Growth Fund I's latest SEC N-PORT filing.
PPNSX Prospectus and SEC Filings
Official SmallCap Growth Fund I filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-02-27
- Prospectus (485BPOS) — filed 2025-02-26
- Prospectus (485BPOS) — filed 2024-02-27
- Portfolio holdings (N-PORT) — filed 2026-09-25
- Portfolio holdings (N-PORT) — filed 2026-06-25
- Portfolio holdings (N-PORT) — filed 2026-03-25
- Annual census (N-CEN) — filed 2026-01-14
- Annual census (N-CEN) — filed 2025-01-13
Related Funds
Other United States Small Cap Growth Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.