Business Context and Reporting Period
This Form 8-K is a Regulation FD disclosure filed by Principal Financial Group, Inc. on January 22, 2026. The report provides quarterly Assets Under Management (AUM) data for the period ended December 31, 2025, prior to the release of the full quarterly earnings.
Key Financial Metrics
| Metric | Value |
|---|---|
| Total AUM (as of Dec 31, 2025) | $781.0 billion |
| AUM - Principal Asset Management (Investment Management) | $593.9 billion |
| AUM - Principal Asset Management (International Pension) | $153.9 billion |
| AUM from Disposed Operations (Q4 2025) | $13.0 billion |
| Net AUM Impact (Excluding Disposed Ops) | Approx. 1.5% positive impact |
Note: The filing does not provide specific figures for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are expected in the upcoming financial supplement.
Material Changes and Operational Notes
- Disposed Operations: The total AUM figure includes $13.0 billion attributable to operations disposed in the fourth quarter of 2025 within Principal Asset Management – Investment Management.
- AUM Drivers: Excluding disposed operations, the 1.5% positive impact on AUM was driven by foreign currency translation, market performance, and other items not reported as net cash flow.
Outlook, Risks, and Management Commentary
Management highlighted specific exposures that may be sensitive during market dislocations and wider return dispersion:
- Equity AUM: Exposure to small-cap, mid-cap, and international products.
- Fixed Income AUM: Exposure to high yield and preferred securities.
- Emerging Markets: Sensitivity to exchange rate movements.
The full financial supplement containing detailed AUM breakdowns is scheduled for release on or about February 9, 2026.
Investor Verification Checklist
- Verify the final AUM figures and detailed breakdowns in the financial supplement expected on February 9, 2026.
- Confirm the financial impact of the $13.0 billion disposed operations on Q4 2025 earnings.
- Monitor market performance and currency fluctuations affecting the 1.5% AUM growth driver.
- Review upcoming earnings for revenue, profit, and liquidity metrics not included in this 8-K.