Principal firms disclose 14.9M-share, 5.2% passive holding in Americold (COLD)

Rhea-AI Filing Summary

Principal Real Estate Investors LLC and Principal Global Investors jointly report a passive holding in Americold Realty Trust common stock. Together they beneficially own 14,879,576 shares, representing 5.2% of the class. Ownership is composed of 14,620,490 shared voting and dispositive shares held by Principal Real Estate Investors LLC and 259,086 shared voting and dispositive shares held by Principal Global Investors.

The filing states these securities are held in the ordinary course of business and not intended to influence control of the issuer. No additional transactions, amendments, or plans to change control are disclosed in the document.

Positive

• Combined beneficial ownership exceeds the 5% reporting threshold at 14,879,576 shares (5.2%), providing transparency to investors
• Filing certifies passive intent, stating holdings are in the ordinary course and not for the purpose of changing control

Negative

• None.

Insights

Financial Analyst

TL;DR Principal firms report a combined passive stake of 5.2% in Americold, a material but non-control ownership.

Principal Real Estate Investors LLC and Principal Global Investors jointly disclose beneficial ownership totaling 14,879,576 shares, crossing the 5% reporting threshold that typically draws investor attention. The breakdown shows nearly all shares held with shared voting and dispositive power, indicating these positions are managed at the group level rather than as sole-control stakes. The certification in the filing confirms the position is held in the ordinary course and not for changing control, which reduces immediate corporate governance concerns but establishes the firms as meaningful holders whose continued activity could be notable.

Corporate Governance Expert

TL;DR A passive 5.2% stake is material for disclosure but signals no active control intent per the filer.

The Schedule 13G filing clarifies that the reported holdings are passive and not intended to influence issuer control. From a governance perspective, crossing a 5% threshold increases visibility and qualifies these firms as institutional stakeholders that may engage through standard shareholder channels. The filing does not indicate collaborative arrangements beyond a joint filing agreement or any plans to nominate directors or pursue control actions, so governance impact appears limited absent future disclosures.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

AMERICOLD REALTY TRUST

(Name of Issuer)

Common Stock, $0.01 par value per share

(Title of Class of Securities)

03064D108

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 03064D108

1

Names of Reporting Persons

PRINCIPAL REAL ESTATE INVESTORS LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 14,620,490.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 14,620,490.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

14,620,490.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 03064D108

1

Names of Reporting Persons

PRINCIPAL GLOBAL INVESTORS

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 259,086.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 259,086.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

259,086.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: AMERICOLD REALTY TRUST
(b)	Address of issuer's principal executive offices: 10 Glenlake Pkwy., Suite 800 S. Tower, Atlanta, GEORGIA 30328
Item 2.
(a)	Name of person filing: PRINCIPAL REAL ESTATE INVESTORS LLC PRINCIPAL GLOBAL INVESTORS
(b)	Address or principal business office or, if none, residence: PRINCIPAL REAL ESTATE INVESTORS, LLC 711 HIGH STREET DES MOINES, Iowa 50392-0300 PRINCIPAL GLOBAL INVESTORS 711 HIGH STREET DES MOINES, Iowa 50392-0300
(c)	Citizenship: PRINCIPAL REAL ESTATE INVESTORS LLC - DELAWARE PRINCIPAL GLOBAL INVESTORS - DELAWARE
(d)	Title of class of securities: Common Stock, $0.01 par value per share
(e)	CUSIP No.: 03064D108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 14,879,576
(b)	Percent of class: 5.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: PRINCIPAL REAL ESTATE INVESTORS LLC - 0 PRINCIPAL GLOBAL INVESTORS - 0
	(ii) Shared power to vote or to direct the vote: PRINCIPAL REAL ESTATE INVESTORS LLC - 14,620,490 PRINCIPAL GLOBAL INVESTORS - 259,086
	(iii) Sole power to dispose or to direct the disposition of: PRINCIPAL REAL ESTATE INVESTORS LLC - 0 PRINCIPAL GLOBAL INVESTORS - 0
	(iv) Shared power to dispose or to direct the disposition of: PRINCIPAL REAL ESTATE INVESTORS LLC - 14,620,490 PRINCIPAL GLOBAL INVESTORS - 259,086
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

PRINCIPAL REAL ESTATE INVESTORS LLC

Signature:	/s/ J. Markham Penrod
Name/Title:	Chief Compliance Officer - North America, Principal Asset Management
Date:	08/08/2025

PRINCIPAL GLOBAL INVESTORS

Signature:	/s/ J. Markham Penrod
Name/Title:	Chief Compliance Officer - North America, Principal Asset Management
Date:	08/08/2025

Exhibit Information

This statement is filed by Principal Real Estate Investors LLC and Principal Global Investors LLC jointly pursuant to a Joint Filing Agreement, which is filed with this Schedule 13G as Exhibit 99.1.

FAQ

Who filed the Schedule 13G/A for Americold (COLD)?

The statement was filed jointly by Principal Real Estate Investors LLC and Principal Global Investors.

How many Americold (COLD) shares do the filers beneficially own?

They report a combined beneficial ownership of 14,879,576 shares, representing 5.2% of the class.

What is the breakdown of voting and dispositive power reported?

Principal Real Estate Investors LLC reports 14,620,490 shared voting and dispositive shares; Principal Global Investors reports 259,086 shared voting and dispositive shares.

Does the filing indicate an intent to influence Americold's control?

No. The filing includes a certification that the securities are held in the ordinary course of business and not for the purpose of changing or influencing control.

Does the filing disclose any plans or agreements to act together beyond the joint filing?

The document notes a Joint Filing Agreement as an exhibit but does not disclose additional plans or group actions.