We examined the equity-oriented leadership experiences of 23 principal interns in one principal preparation program in Texas. Our analysis of interview and internship log data revealed that the principal interns engaged in a range of equity-related work, and they led more of that work than expected. However, their leadership work was concentrated in access and achievement, to the exclusion of power and identity. We offer a window into what principal candidates are--and are not--learning through their internships. We also identify opportunities for future research and how preparation programs and districts can facilitate more equity-oriented work among interns.