YUMC: Principal Global Investors holds 20,169,911 shares, 5.5%

Rhea-AI Filing Summary

Principal Global Investors filed a Schedule 13G reporting beneficial ownership of 20,169,911 shares of Yum China Holdings, Inc. (YUMC), representing 5.5% of the class as of the event date 09/30/2025.

The filer reports shared voting power: 20,169,911 and shared dispositive power: 20,169,911, with no sole voting or dispositive power. The reporting person is classified as an investment adviser and certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Yum China Holdings, Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

98850P109

(CUSIP Number)

09/30/2025

(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. 98850P109

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 20,169,911.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 20,169,911.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

20,169,911.00

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)

5.5 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Yum China Holdings, Inc.
(b)	Address of issuer's principal executive offices: 101 EAST PARK BOULEVARD, SUITE 805, PLANO, TEXAS 75074
Item 2.
(a)	Name of person filing: PRINCIPAL GLOBAL INVESTORS
(b)	Address or principal business office or, if none, residence: 711 HIGH STREET DES MOINES, Iowa 50392-0300
(c)	Citizenship: PRINCIPAL GLOBAL INVESTORS - DELAWARE
(d)	Title of class of securities: Common Stock, par value $0.01 per share
(e)	CUSIP No.: 98850P109
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: 20,169,911
(b)	Percent of class: 5.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: PRINCIPAL GLOBAL INVESTORS - 0
	(ii) Shared power to vote or to direct the vote: PRINCIPAL GLOBAL INVESTORS - 20,169,911
	(iii) Sole power to dispose or to direct the disposition of: PRINCIPAL GLOBAL INVESTORS - 0
	(iv) Shared power to dispose or to direct the disposition of: PRINCIPAL GLOBAL INVESTORS - 20,169,911
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 GLOBAL INVESTORS

Signature:	/s/ J. Markham Penrod
Name/Title:	Chief Compliance Officer - North America, Principal Asset Management
Date:	11/03/2025

FAQ

What did Principal Global Investors disclose about YUMC?

They filed a Schedule 13G reporting beneficial ownership of 20,169,911 shares, or 5.5% of Yum China’s common stock.

What voting and dispositive power does PGI report over YUMC?

PGI reports shared voting power: 20,169,911 and shared dispositive power: 20,169,911, with no sole power.

What is the event date for this ownership report?

The date of the event that triggered the filing is 09/30/2025.

How is the reporting person classified?

The reporting person is an investment adviser filing under Rule 13d-1(b) criteria.

What certification accompanies this Schedule 13G?

It certifies the securities were acquired and are held in the ordinary course of business and not to change or influence control.

Who signed the filing and when?

It was signed by J. Markham Penrod, Chief Compliance Officer – North America, on 11/03/2025.