# EDGAR Filing Document

**Accession Number:** 0000356476
**File Stem:** 0001145549-23-010247
**Filing Date:** 2023-2
**Character Count:** 13545
**Document Hash:** 39cead0c9928b4688afb424482e54b3b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-010247.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001145549-23-010247

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EMPOWER FUNDS, INC.
- **CENTRAL INDEX KEY:** 0000356476
- **IRS NUMBER:** 840876044
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03364
- **FILM NUMBER:** 23670667

**BUSINESS ADDRESS:**
- **STREET 1:** 8515 E ORCHARD ROAD
- **CITY:** GREENWOOD VILLAGE
- **STATE:** CO
- **ZIP:** 80111
- **BUSINESS PHONE:** 303-737-3000

**MAIL ADDRESS:**
- **STREET 1:** 8515 E ORCHARD ROAD
- **CITY:** GREENWOOD VILLAGE
- **STATE:** CO
- **ZIP:** 80111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GREAT-WEST FUNDS INC
- **DATE OF NAME CHANGE:** 20121005

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MAXIM SERIES FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Empower Lifetime 2025 Fund (Series ID: S000025512)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000076362 | Service Class       | MXFLX           |
| C000076363 | Investor Class      | MXELX           |
| C000095809 | Class L             | MXANX           |
| C000155797 | Institutional Class | MXQBX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** EMPOWER FUNDS, INC.

- **b. Investment Company Act file number:** 811-03364

- **c. CIK number of Registrant:** 0000356476

- **d. LEI of Registrant:** RUYOMHMDMSPQ01U66388

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 8515 E Orchard Road

  - **City:** Greenwood Village

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80111

  - **Telephone number:** 866-831-7129

**Item A.2. Information about the Series.**

- **a. Name of Series:** Empower Lifetime 2025 Fund

- **b. EDGAR series identifier (if any):** S000025512

- **c. LEI of Series:** 549300MM38NMII1Q2M98

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1267888265.21

**Total Liabilities:** $504330.98

**Net Assets:** $1267383934.21

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000076362 | 3.43%                | 5.58%                | -2.51%               |
| Class ID C000076363 | 3.42%                | 5.56%                | -2.52%               |
| Class ID C000095809 |  |  |  |
| Class ID C000155797 | 3.52%                | 5.50%                | -2.37%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-751300.60              | $43887624.89                               |
| Month 2  | $-825336.18              | $68998858.39                               |
| Month 3  | $-2749124.31             | $-68340454.83                              |

### Schedule of Portfolio Investments

| Name              | Title                          | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AMERICAN CENTURY  | REAL ESTATE FUND               | CUSIP: 025076282<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    920222 | NS      | $21201906.83  | 1.67%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | LARGE CAP VALUE-INST           | CUSIP: 39137E251<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   9368801 | NS      | $63614158.46  | 5.02%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | TEMPLETON GBL BOND FUND-INST   | CUSIP: 39137E285<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   8949046 | NS      | $66222942.36  | 5.23%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | SMALL CAP VALUE FUND-INST      | CUSIP: 39137E335<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   2300365 | NS      | $15136400.44  | 1.19%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | TROWE PRICE MIDCAP GROWTH-INST | CUSIP: 39137E293<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   4262841 | NS      | $25065504.31  | 1.98%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | ARIEL MID CAP VALUE FUND-INST  | CUSIP: 39137E384<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |    519191 | NS      | $5544959.62   | 0.44%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | HIGH YIELD BOND-INST           | CUSIP: 39137E483<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   4408328 | NS      | $39630866.11  | 3.13%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | FEDERATED BOND FUND-INST       | CUSIP: 39137E459<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   8223256 | NS      | $68910888.00  | 5.44%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | MFS INTL GROWTH FUND-INST      | CUSIP: 39137E467<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   4595782 | NS      | $36352635.36  | 2.87%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | S&P 600 INDEX FUND-INST        | CUSIP: 39137E491<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   4667912 | NS      | $28380905.54  | 2.24%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| DFA               | INTERNATIONAL REAL ESTATE      | CUSIP: 233203348<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2650308 | NS      | $9832643.47   | 0.78%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | LOOMIS SAYLES BOND INST        | CUSIP: 39137E244<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   6987835 | NS      | $55972557.90  | 4.42%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | MULTI MGR SCG FUND INST        | CUSIP: 39137G736<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |    293743 | NS      | $2684809.85   | 0.21%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | SHORT DURATION BOND FUND-INST  | CUSIP: 39137E319<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   4867012 | NS      | $45214544.42  | 3.57%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | REAL ESTATE INDEX FUND-INST    | CUSIP: 39137E343<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   1475553 | NS      | $11347001.94  | 0.90%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | S&P MID CAP 400 IND FUND-INST  | CUSIP: 39137E392<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   6803509 | NS      | $52387018.43  | 4.13%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | MULTI-MAN LRG CAP GROWTH-INST  | CUSIP: 39137E475<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   7439597 | NS      | $58252048.36  | 4.60%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | INTERNATIONAL INDEX FUND-INST  | CUSIP: 39137E376<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   8414053 | NS      | $77661708.62  | 6.13%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | S&P 500 INDEX FUND-INST        | CUSIP: 39137E434<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |  15991231 | NS      | $121693268.44 | 9.60%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | BOND INDEX FUND-INST           | CUSIP: 39137E525<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |  17013734 | NS      | $140363304.50 | 11.08%            | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | INFL-PROTECT SEC FUND INST CL  | CUSIP: 39137G298<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | RF                | US        |  10868647 | NS      | $96187525.64  | 7.59%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER           | GUARANTEED FUNDING ACCOUNT     | CUSIP: GPFML1001<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  87770991 | NS      | $105614834.01 | 8.33%             | 2023-01-03      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| EMPOWER FUNDS INC | GS MID CAP VALUE FUND-INST     | CUSIP: 39137E426<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   2967149 | NS      | $21778870.98  | 1.72%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | MFS INTL VALUE FUND-INST       | CUSIP: 39137E442<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   5499668 | NS      | $41192513.38  | 3.25%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | EM EQUITY FUND INST CL         | CUSIP: 39137G330<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | RF                | US        |   2944086 | NS      | $23140518.62  | 1.83%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| JANUS             | TRITON N                       | CUSIP: 47103D793<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    448761 | NS      | $11187620.79  | 0.88%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| FIDELITY          | SALEM STREET TR EMRG MKT INS   | CUSIP: 316146331<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2465981 | NS      | $23254203.66  | 1.83%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-17

**Name of Applicant:** GREAT-WEST FUNDS INC

**Signature:** /s/Kelly New

**Name of Signer:** Kelly New

**Title:** Treasurer, Great-West Funds, Inc.