Principal Global Investors: AUM & Ownership

Clients

Principal Global Investors serves 8,205 clients, 6,014 of them other individuals. The average client has about $52 million with the firm, and high-net-worth clients hold 0% of its $427.7 billion in assets.

Regulatory assets by client type

Investment companies101 clients35%
Pooled investment vehicles29 clients9%
Pension and profit-sharing plans578 clients10%
Insurance companies60 clients34%
Sovereign wealth funds and foreign official institutions12 clients3%
OtherCorporations and other businesses, Individuals, High-net-worth individuals, Banking or thrift institutions, Charitable organizations, State or municipal government entities9%

Show client breakdown

Client type	Clients	Regulatory AUM	Share	Avg. per client
Individuals (other than HNW)	6,014	$2,109,595,374	0.5%	$351K
High-net-worth individuals	315	$969,682,346	0.2%	$3.08M
Banking or thrift institutions	37	$8,497,534,123	2.0%	$229.7M
Investment companies	101	$150,645,770,950	35.2%	$1.49B
Pooled investment vehicles	29	$39,989,121,676	9.3%	$1.38B
Pension and profit-sharing plans	578	$41,042,340,874	9.6%	$71.0M
Charitable organizations	30	$2,037,675,779	0.5%	$67.9M
State or municipal government entities	78	$5,535,672,722	1.3%	$71.0M
Insurance companies	60	$145,344,206,065	34.0%	$2.42B
Sovereign wealth funds and foreign official institutions	12	$14,280,129,773	3.3%	$1.19B
Corporations and other businesses	951	$17,260,991,947	4.0%	$18.2M
Total	8,205	$427,712,721,629	100%	$52.1M

Individuals (other than HNW)

Clients: 6,014
Regulatory AUM: $2,109,595,374
Share: 0.5%
Avg. per client: $351K

High-net-worth individuals

Clients: 315
Regulatory AUM: $969,682,346
Share: 0.2%
Avg. per client: $3.08M

Banking or thrift institutions

Clients: 37
Regulatory AUM: $8,497,534,123
Share: 2.0%
Avg. per client: $229.7M

Investment companies

Clients: 101
Regulatory AUM: $150,645,770,950
Share: 35.2%
Avg. per client: $1.49B

Pooled investment vehicles

Clients: 29
Regulatory AUM: $39,989,121,676
Share: 9.3%
Avg. per client: $1.38B

Pension and profit-sharing plans

Clients: 578
Regulatory AUM: $41,042,340,874
Share: 9.6%
Avg. per client: $71.0M

Charitable organizations

Clients: 30
Regulatory AUM: $2,037,675,779
Share: 0.5%
Avg. per client: $67.9M

State or municipal government entities

Clients: 78
Regulatory AUM: $5,535,672,722
Share: 1.3%
Avg. per client: $71.0M

Insurance companies

Clients: 60
Regulatory AUM: $145,344,206,065
Share: 34.0%
Avg. per client: $2.42B

Sovereign wealth funds and foreign official institutions

Clients: 12
Regulatory AUM: $14,280,129,773
Share: 3.3%
Avg. per client: $1.19B

Corporations and other businesses

Clients: 951
Regulatory AUM: $17,260,991,947
Share: 4.0%
Avg. per client: $18.2M

Total

Clients: 8,205
Regulatory AUM: $427,712,721,629
Share: 100%
Avg. per client: $52.1M

What it does

Principal Global Investors provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, selecting other managers, educational seminars and other activities. It is paid through a percentage of assets, fixed fees, performance-based fees and other arrangements.

Principal Global Investors advises 10 private funds.

98.0% of assets ($419.25B across 8,162 accounts) are managed with discretion; $8.47B across 7 accounts are not. $3.94B sits in a wrap fee program the firm both sponsors and manages. 0% of clients are outside the U.S., and 137 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end

Stocks43%
Funds3%
Bonds32%
- Investment grade corporate bonds19%
- U.S. government and agency bonds5%
- High-yield corporate bonds5%
- State and local bonds3%
Cash4%
Other17%
- These securities include non-agency issued securitized debt instruments (i.e. collateralized mortgage back securities, asset backed securities and collateralized mortgage obligations)16%
- Derivatives1%

Filed values cover 99%. The neutral 1% gap has no reported category.

Custodians

Principal Global Investors’ client accounts are held mainly at State Street Bank & Trust, with 33% of managed assets, and Bank of New York Mellon, with 32%. Principal Global Investors has custody of $95.07B for 10 clients.

Managed account assets by custodian

State Street Bank & TrustState Street Bank & Trust · Boston, MA · $141.79B33%
Bank of New York MellonBank of New York Mellon · New York, NY · $138.40B32%
All other custodians$147.52B34%

Ownership and leadership

Principal Global Investors Holding Company (us), LLC owns 75% or more of Principal Global Investors, and Kamal Bhatia is its CEO.

Who owns the firm

Principal Global Investors, LLC· the adviser

Principal Global Investors Holding Company (us), LLC
Control person · since May 2017
Owns 75% or more of Principal Global Investors, LLC
- Principal Financial Services, Inc.
  Control person · since May 2017
  Owns 75% or more of Principal Global Investors Holding Company (us), LLC
  - Principal Financial Group, Inc.
    Control person · since October 2001
    Owns 75% or more of Principal Financial Services, Inc.

Leadership

Kamal Bhatia
Chief Executive Officer & President
Jill Hittner
Chief Financial Officer
Justin Lange
Chief Compliance Officer
George Djurasovic
General Counsel
Todd Everett
Global Head of Private Markets
Michael Goosay
CIO & Global Head of Fixed Income
Todd Jablonski
CIO & Global Head of Multi-Asset and Quantitative Strategies
George Maris
CIO & Global Head of Equities
Kenneth Allen McCullum
Director
Simon McKay
Strategic Advisor to CEO
Barbara Wenig
Chief Business Officer
Brant Wong
Head of Retirement Solutions

Staff

1,394 employees
337 in advisory functions
124 state-registered reps
285 broker-dealer reps
12 insurance agents
1 soliciting firm

Fees

Principal Global Investors is paid through a percentage of assets under management, fixed fees (other than subscription fees), performance-based fees and other.

Principal Global Investors’ fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Principal Global Investors has 19 offices, with 14 listed addresses across 12 states.

Listed office addresses by state

Iowa · 2 listed addresses

801 Grand Ave, Des MoinesHQ
6701 Westown Parkway, West Des Moines

Other business names

Principal Global Investors has reported 10 other business names to the SEC.

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 details

Legal name: Principal Global Investors, LLC
Headquarters: 801 Grand Ave, Des Moines, IA 50392-0001
Phone: 800-787-1621
Website: Not reported
SEC file: 801-55959
Structure: Delaware LLC
Fiscal year end: December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Principal Global Investors have?

Principal Global Investors has 8,205 clients and manages $427.7 billion for them, as of May 2026. They include 6,014 other individuals, 951 corporations and other businesses and 578 pension and profit-sharing plans.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 28 May 2026

What services does Principal Global Investors offer?

Principal Global Investors provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, selecting other managers, educational seminars and other activities.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does Principal Global Investors use?

Principal Global Investors’ separately managed account assets are held at State Street Bank & Trust (Boston, MA), with $141,792,286,652 and Bank of New York Mellon (New York, NY), with $138,395,970,015. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 28 May 2026

How many financial advisors does Principal Global Investors have?

Principal Global Investors has 124 investment adviser representatives registered with state securities authorities, out of 1,394 employees, and 337 perform investment advisory functions. 285 are registered representatives of a broker-dealer and 12 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Principal Global Investors invest in?

At the end of its last fiscal year, Principal Global Investors’ separately managed accounts held 43% exchange-traded equities, 19% investment grade corporate bonds, 16% these securities include non-agency issued securitized debt instruments (i.e. collateralized mortgage back securities, asset backed securities and collateralized mortgage obligations), 5% U.S. government and agency bonds, 5% high-yield corporate bonds, 4% cash and equivalents, 3% state and local bonds, 3% registered funds (mutual funds, ETFs, BDCs) and 1% derivatives. It advises 10 private funds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Principal Global Investors?

Principal Global Investors is owned through a chain of holding companies by Principal Financial Group, Inc. Its direct owner is Principal Global Investors Holding Company (us), LLC (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 28 May 2026

How does Principal Global Investors get paid?

Principal Global Investors is paid through a percentage of assets under management, fixed fees, performance-based fees and other arrangements. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file