PRENX — Real Estate Securities Fund
Data updated: 2026-09-25
PRENX — Real Estate Securities Fund. United States Real Estate · $7.03B AUM · 1.56% expense ratio. Holdings, fees, performance and SEC filings.
PRENX Fund Overview
PRENX — Real Estate Securities Fund is a US mutual fund managed by Principal Funds, Inc., categorised as United States Real Estate. 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 Real Estate
- Assets under management: $7.03B
- 1-year return: 17.5%
- Ticker: PRENX
- SEC CIK: 0000898745
- SEC series ID: S000007212
- Share class ID: C000019786
PRENX Investment Objective and Strategy
Real Estate Securities Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Principal Funds, Inc..
Investment objective
The Fund seeks to generate a total return.
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 principally engaged in the real estate industry at the time of purchase. A real estate company has at least 50% of its assets, income or profits derived from products or services related to the real estate industry. Real estate companies include real estate investment trusts (""REITs"") and companies with substantial real estate holdings such as paper, lumber, hotel and entertainment companies as well as those whose products and services relate to the real estate industry include building supply manufacturers, mortgage lenders and mortgage servicing companies. REITs are pooled investment vehicles that invest in income producing real estate, real estate related loans, or other types of real estate interests.
REITs are corporations or business trusts that are permitted to eliminate corporate level federal income taxes by meeting certain requirements of the Internal Revenue Code. The Fund invests in value equity securities, an investment strategy that emphasizes buying securities that appear to be undervalued. The Fund concentrates its investments (invest more than 25% of its net assets) in securities in the real estate industry. The Fund is considered non-diversified, which means it can invest a higher percentage of assets in securities of individual issuers than a diversified fund. As a result, changes in the value of a single investment could cause greater fluctuations in the Fund's share price than would occur in a more diversified fund."
PRENX Holdings
Top 10 holdings of Real Estate Securities Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Welltower Inc | 10.95% |
| Equinix Inc | 9.36% |
| American Tower Corp | 7.45% |
| Ventas Inc | 6.12% |
| Prologis Inc | 5.63% |
| Extra Space Storage Inc | 4.34% |
| Digital Realty Trust Inc | 3.87% |
| AvalonBay Communities Inc | 3.36% |
| American Homes 4 Rent | 3.27% |
| SBA Communications Corp | 3.02% |
PRENX Portfolio Allocation
Asset-class allocation of Real Estate Securities Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.8% |
| Cash & Equivalents | 0.3% |
PRENX Performance
Total returns for PRENX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 17.5% |
PRENX Risk Information
Risk metrics for PRENX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 11.9%
PRENX Costs and Fees
PRENX costs about $156 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.56%
- Gross expense ratio: 1.56%
- Portfolio turnover: 18%
- Brokerage commissions: 2.92 bps of average net assets (SEC N-CEN)
PRENX Cashflows
Over the 12 months to 2026-04, Real Estate Securities Fund had net outflows of $53.55M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | −$182.30M |
| 2026-03 | $201.55M |
| 2026-02 | −$48.99M |
| 2026-01 | −$59.88M |
| 2025-12 | $8.15M |
| 2025-11 | −$7.19M |
PRENX Debt Constituents
No individual debt constituents are reported in Real Estate Securities Fund's latest SEC N-PORT filing.
PRENX Prospectus and SEC Filings
Official Real Estate Securities Fund 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 Real Estate 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.