# EDGAR Filing Document

**Accession Number:** 0000356476
**File Stem:** 0001193125-26-232062
**Filing Date:** 2026-5
**Character Count:** 252426
**Document Hash:** ebe74df58a963503d85d3e0ba5d5f17f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-232062.hdr.sgml**: 20260520

**ACCESSION NUMBER**: 0001193125-26-232062

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260520

**DATE AS OF CHANGE**: 20260520

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EMPOWER FUNDS, INC.
- **CENTRAL INDEX KEY:** 0000356476

**ORGANIZATION NAME:**
- **EIN:** 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:** 261002487

**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 S&P Mid Cap 400 Index Fund (Series ID: S000030872)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000095752 | Investor Class      | MXMDX           |
| C000095753 | Class L             | MXBUX           |
| C000155808 | Institutional Class | MXNZX           |

## Nport-Ex

#### EMPOWER FUNDS, INC.<br> ("Empower Funds")

---

| | |
|:---|:---|
| **Empower Mid Cap Value Fund** | &nbsp;&nbsp;&nbsp;**Empower S&P Mid Cap 400® Index Fund** |
| **Institutional Class Ticker / MXKJX** | &nbsp;&nbsp;&nbsp;**Institutional Class Ticker / MXNZX** |
| **Investor Class Ticker / MXMVX** | &nbsp;&nbsp;&nbsp;**Investor Class Ticker / MXMDX** |
|  | &nbsp;&nbsp;&nbsp;**Class L Ticker / MXBUX** |
| **Empower T. Rowe Price Mid Cap Growth Fund** |  |
| **Institutional Class / MXYKX** |  |
| **Investor Class Ticker / MXMGX** |  |

---

<br> (the "Fund(s)")

#### Quarterly Holdings Report
<br> March 31, 2026

This report is submitted for general information and is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. Nothing herein is to be considered an offer of the sale of shares of the Funds. Such offering is made only by the prospectus of each Fund, which includes details as to offering price and other information.

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER MID CAP VALUE FUND

### Schedule of Investments
*As of March 31, 2026 (Unaudited)*

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| **COMMON STOCK** | **COMMON STOCK** | **COMMON STOCK** |
| Basic Materials — 3.22% | Basic Materials — 3.22% | Basic Materials — 3.22% |
| &nbsp;&nbsp;14073 | Albemarle Corp | &nbsp;&nbsp;&nbsp;$2526526 |
| &nbsp;&nbsp;73322 | Alcoa Corp | &nbsp;&nbsp;&nbsp;&nbsp; 4863448 |
| &nbsp;&nbsp;&nbsp;&nbsp;9070 | Anglogold Ashanti PLC | &nbsp;&nbsp;&nbsp;&nbsp; 883055 |
| 303776 | Axalta Coating Systems Ltd<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 8414595 |
| &nbsp;&nbsp;&nbsp;&nbsp;8576 | DuPont de Nemours Inc | &nbsp;&nbsp;&nbsp;&nbsp; 392781 |
| &nbsp;&nbsp;22687 | International Flavors & Fragrances Inc | &nbsp;&nbsp;&nbsp;&nbsp; 1645942 |
| &nbsp;&nbsp;&nbsp;&nbsp;9307 | Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4614039 |
| 277334 | Mosaic Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7072017 |
| &nbsp;&nbsp;&nbsp;&nbsp;1343 | NewMarket Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860796 |
| &nbsp;&nbsp;21582 | Olin Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641633 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31914832 |
| Communications — 6.47% | Communications — 6.47% | Communications — 6.47% |
| &nbsp;&nbsp;21179 | Charter Communications Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4572122 |
| 133980 | Corning Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18217260 |
| 120967 | Fox Corp Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7064473 |
| &nbsp;&nbsp;42585 | Fox Corp Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2261264 |
| 222820 | Gen Digital Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4195701 |
| 260182 | Match Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7990189 |
| &nbsp;&nbsp;&nbsp;&nbsp;5263 | Motorola Solutions Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2283984 |
| &nbsp;&nbsp;21370 | Omnicom Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1609375 |
| &nbsp;&nbsp;42477 | Reddit Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5719528 |
| &nbsp;&nbsp;29345 | Roku Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2776624 |
| &nbsp;&nbsp;35555 | T-Mobile US Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7467616 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64158136 |
| Consumer, Cyclical — 15.07% | Consumer, Cyclical — 15.07% | Consumer, Cyclical — 15.07% |
| 214508 | Aramark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8696154 |
| &nbsp;&nbsp;42836 | AutoNation Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8364157 |
| &nbsp;&nbsp;&nbsp;&nbsp;9122 | BJ's Wholesale Club Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;897787 |
| 162337 | BorgWarner Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8808406 |
| &nbsp;&nbsp;58182 | Brunswick Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4233323 |
| &nbsp;&nbsp;98127 | CarMax Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4080121 |
| &nbsp;&nbsp;14255 | Casey's General Stores Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10375644 |
| &nbsp;&nbsp;42489 | Chipotle Mexican Grill Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1360073 |
| &nbsp;&nbsp;55527 | Crocs Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4609852 |
| &nbsp;&nbsp;&nbsp;&nbsp;3605 | Cummins Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1939562 |
| &nbsp;&nbsp;63721 | Delta Air Lines Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4236172 |
| 132109 | Dolby Laboratories Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7934466 |
| &nbsp;&nbsp;43657 | Dollar General Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5183395 |
| &nbsp;&nbsp;&nbsp;&nbsp;8739 | Domino's Pizza Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3135466 |
| &nbsp;&nbsp;80764 | DR Horton Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11082436 |
| &nbsp;&nbsp;24217 | Ferguson Enterprises Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5648857 |
| &nbsp;&nbsp;&nbsp;&nbsp;7782 | Five Below Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1778031 |
| &nbsp;&nbsp;38256 | GameStop Corp Class A<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881418 |
| 377286 | Gentex Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8243699 |
| 144541 | Mattel Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100181 |
| &nbsp;&nbsp;84506 | Ollie's Bargain Outlet Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7777932 |
| &nbsp;&nbsp;18377 | PACCAR Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2122544 |
| &nbsp;&nbsp;25366 | Ralph Lauren Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8725650 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Consumer, Cyclical — (continued) | Consumer, Cyclical — (continued) | Consumer, Cyclical — (continued) |
| &nbsp;&nbsp;98060 | Rivian Automotive Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;$1475803 |
| &nbsp;&nbsp;49284 | Thor Industries Inc<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 3937299 |
| 109123 | United Airlines Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 10046955 |
| 162089 | VF Corp | &nbsp;&nbsp;&nbsp;&nbsp; 2753892 |
| &nbsp;&nbsp;24784 | Watsco Inc<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 9016171 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149445446 |
| Consumer, Non-Cyclical — 11.77% | Consumer, Non-Cyclical — 11.77% | Consumer, Non-Cyclical — 11.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;6837 | Albertsons Cos Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116502 |
| &nbsp;&nbsp;16870 | Align Technology Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2892024 |
| &nbsp;&nbsp;18378 | Bio-Techne Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960434 |
| &nbsp;&nbsp;18431 | Boston Beer Co Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4246503 |
| &nbsp;&nbsp;90863 | Boston Scientific Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5701653 |
| &nbsp;&nbsp;48748 | Bright Horizons Family Solutions Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4003673 |
| 196508 | Certara Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120096 |
| &nbsp;&nbsp;&nbsp;&nbsp;8972 | Chemed Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3389083 |
| &nbsp;&nbsp;&nbsp;&nbsp;8673 | Coca-Cola Consolidated Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1662961 |
| 104514 | CVS Health Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7506195 |
| &nbsp;&nbsp;53810 | elf Beauty Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3261424 |
| &nbsp;&nbsp;85746 | Encompass Health Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8294210 |
| &nbsp;&nbsp;33246 | Euronet Worldwide Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2206537 |
| &nbsp;&nbsp;86954 | GE HealthCare Technologies Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6189386 |
| &nbsp;&nbsp;39603 | Globus Medical Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3412195 |
| &nbsp;&nbsp;12018 | Grand Canyon Education Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2043420 |
| &nbsp;&nbsp;46095 | MarketAxess Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7604753 |
| &nbsp;&nbsp;24120 | Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2089998 |
| 104929 | Moderna Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5330393 |
| &nbsp;&nbsp;49341 | Quest Diagnostics Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9669849 |
| &nbsp;&nbsp;&nbsp;&nbsp;2769 | Regeneron Pharmaceuticals Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139440 |
| 107703 | Sotera Health Co<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1544461 |
| &nbsp;&nbsp;&nbsp;&nbsp;8642 | Sysco Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616434 |
| &nbsp;&nbsp;24887 | Tenet Healthcare Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4696426 |
| 152925 | Tyson Foods Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9797905 |
| &nbsp;&nbsp;&nbsp;&nbsp;3745 | UnitedHealth Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013360 |
| &nbsp;&nbsp;45101 | Universal Health Services Inc Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8071726 |
| &nbsp;&nbsp;28286 | West Pharmaceutical Services Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7089603 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116670644 |
| Energy — 9.20% | Energy — 9.20% | Energy — 9.20% |
| 115556 | Antero Midstream Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2634677 |
| 192647 | Antero Resources Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8175938 |
| 177261 | APA Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7522957 |
| 112961 | Baker Hughes Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6896269 |
| &nbsp;&nbsp;15321 | Cheniere Energy Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4347487 |
| &nbsp;&nbsp;55333 | ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7303956 |
| &nbsp;&nbsp;48314 | Devon Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2431161 |
| 415076 | Kinder Morgan Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13917498 |
| &nbsp;&nbsp;48237 | Marathon Petroleum Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11778511 |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER MID CAP VALUE FUND

### Schedule of Investments
*As of March 31, 2026 (Unaudited)*

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Energy — (continued) | Energy — (continued) | Energy — (continued) |
| 431445 | NOV Inc | &nbsp;&nbsp;&nbsp;$8115480 |
| &nbsp;&nbsp;41432 | Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp; 7548082 |
| 153037 | TechnipFMC PLC | &nbsp;&nbsp;&nbsp;&nbsp; 10579448 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91251464 |
| Financial — 20.88% | Financial — 20.88% | Financial — 20.88% |
| &nbsp;&nbsp;39297 | Agree Realty Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp; 2962208 |
| 299097 | American Homes 4 Rent Class A REIT | &nbsp;&nbsp;&nbsp;&nbsp; 8350788 |
| &nbsp;&nbsp;58970 | AvalonBay Communities Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9632750 |
| 157104 | Bank of America Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7658820 |
| &nbsp;&nbsp;66738 | Bank of New York Mellon Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7917129 |
| &nbsp;&nbsp;&nbsp;&nbsp;3561 | Blackrock Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3424649 |
| &nbsp;&nbsp;39321 | BXP Inc REIT<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040760 |
| &nbsp;&nbsp;84963 | Camden Property Trust REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8297486 |
| &nbsp;&nbsp;95059 | Citizens Financial Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5700688 |
| &nbsp;&nbsp;10114 | CME Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2987170 |
| &nbsp;&nbsp;17788 | Coinbase Global Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3105963 |
| &nbsp;&nbsp;28589 | Cullen/Frost Bankers Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3918980 |
| &nbsp;&nbsp;40398 | Digital Realty Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7280123 |
| &nbsp;&nbsp;&nbsp;&nbsp;7578 | Erie Indemnity Co Class A<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1904427 |
| &nbsp;&nbsp;30724 | Evercore Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9171421 |
| &nbsp;&nbsp;14810 | First American Financial Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;892895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | First Citizens BancShares Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471165 |
| 132837 | First Hawaiian Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3273104 |
| &nbsp;&nbsp;17282 | First Industrial Realty Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999764 |
| 220623 | FNB Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3688816 |
| &nbsp;&nbsp;11885 | Hanover Insurance Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2060265 |
| 448427 | Healthcare Realty Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7618774 |
| 105523 | Healthpeak Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1733743 |
| &nbsp;&nbsp;51604 | Highwoods Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1104842 |
| 368161 | Host Hotels & Resorts Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7053965 |
| &nbsp;&nbsp;&nbsp;&nbsp;4238 | Houlihan Lokey Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608662 |
| 355585 | Invesco Ltd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8637160 |
| &nbsp;&nbsp;62562 | Invitation Homes Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554666 |
| &nbsp;&nbsp;&nbsp;&nbsp;5248 | JPMorgan Chase & Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1543752 |
| &nbsp;&nbsp;86707 | Loews Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9255105 |
| &nbsp;&nbsp;17909 | MetLife Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1266524 |
| 156644 | OneMain Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8378887 |
| 596937 | Park Hotels & Resorts Inc REIT<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6285747 |
| &nbsp;&nbsp;38347 | Principal Financial Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3455448 |
| &nbsp;&nbsp;55226 | Prosperity Bancshares Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3710083 |
| &nbsp;&nbsp;60351 | Rocket Cos Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860002 |
| &nbsp;&nbsp;20197 | SBA Communications Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3476106 |
| 437257 | SoFi Technologies Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6943641 |
| 349560 | Starwood Property Trust Inc REIT<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6019423 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Financial — (continued) | Financial — (continued) | Financial — (continued) |
| &nbsp;&nbsp;12167 | State Street Corp | &nbsp;&nbsp;&nbsp;$1539855 |
| 119958 | Stifel Financial Corp | &nbsp;&nbsp;&nbsp;&nbsp; 8867296 |
| 149690 | Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp; 10181914 |
| 146498 | VICI Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp; 4002325 |
| &nbsp;&nbsp;20276 | Welltower Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp; 4008768 |
| 166672 | XP Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp; 3173435 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207019494 |
| Industrial — 18.64% | Industrial — 18.64% | Industrial — 18.64% |
| &nbsp;&nbsp;42346 | 3M Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6149909 |
| &nbsp;&nbsp;58147 | AMETEK Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12464391 |
| &nbsp;&nbsp;72375 | Avnet Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4459748 |
| 124748 | Carrier Global Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7024560 |
| &nbsp;&nbsp;30595 | Clean Harbors Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8772504 |
| &nbsp;&nbsp;22447 | Coherent Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5347100 |
| &nbsp;&nbsp;13405 | Crane Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2292255 |
| &nbsp;&nbsp;76142 | Crown Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7633235 |
| &nbsp;&nbsp;46299 | Emerson Electric Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6066095 |
| &nbsp;&nbsp;47219 | Everus Construction Group Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5574675 |
| &nbsp;&nbsp;41269 | Flowserve Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3033684 |
| 182689 | Graphic Packaging Holding Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1815929 |
| 253561 | Hayward Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3392646 |
| &nbsp;&nbsp;16195 | Illinois Tool Works Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4215397 |
| &nbsp;&nbsp;61986 | Kirby Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8236700 |
| &nbsp;&nbsp;28589 | MasTec Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9198225 |
| &nbsp;&nbsp;&nbsp;&nbsp;8184 | Mettler-Toledo International Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10321661 |
| &nbsp;&nbsp;78485 | Mueller Industries Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8696138 |
| &nbsp;&nbsp;34457 | Oshkosh Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5072415 |
| 104100 | Otis Worldwide Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8024028 |
| &nbsp;&nbsp;&nbsp;&nbsp;3047 | RBC Bearings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1654887 |
| &nbsp;&nbsp;&nbsp;&nbsp;8441 | Regal Rexnord Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1580662 |
| &nbsp;&nbsp;33026 | Republic Services Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7233354 |
| &nbsp;&nbsp;36743 | RTX Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7087724 |
| &nbsp;&nbsp;24183 | Simpson Manufacturing Co Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4150287 |
| 101503 | Textron Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8887603 |
| &nbsp;&nbsp;64462 | Universal Display Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5908587 |
| &nbsp;&nbsp;42034 | Vulcan Materials Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11445858 |
| &nbsp;&nbsp;46560 | XPO Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9058248 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184798505 |
| Technology — 8.18% | Technology — 8.18% | Technology — 8.18% |
| &nbsp;&nbsp;55473 | Allegro MicroSystems Inc<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1749064 |
| &nbsp;&nbsp;29860 | Apple Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7578169 |
| &nbsp;&nbsp;66637 | BILL Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2552197 |
| &nbsp;&nbsp;38371 | KBR Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1414355 |
| 111003 | Microchip Technology Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7171904 |
| &nbsp;&nbsp;&nbsp;&nbsp;5412 | MKS Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1243732 |
| &nbsp;&nbsp;25413 | ON Semiconductor Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1573573 |
| &nbsp;&nbsp;&nbsp;&nbsp;4972 | Oracle Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731431 |
| 153902 | Parsons Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8336871 |
| &nbsp;&nbsp;&nbsp;&nbsp;7766 | Roper Technologies Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2748077 |
| &nbsp;&nbsp;19163 | Sandisk Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12175020 |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER MID CAP VALUE FUND

### Schedule of Investments
*As of March 31, 2026 (Unaudited)*

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Technology — (continued) | Technology — (continued) | Technology — (continued) |
| 113280 | SS&C Technologies Holdings Inc | &nbsp;&nbsp;&nbsp;$7654329 |
| &nbsp;&nbsp;18409 | Synopsys Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 7298801 |
| &nbsp;&nbsp;37163 | Western Digital Corp | &nbsp;&nbsp;&nbsp;&nbsp; 10052220 |
| 109623 | Zoom Communications Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 8812593 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81092336 |
| Utilities — 5.35% | Utilities — 5.35% | Utilities — 5.35% |
| 683750 | AES Corp | &nbsp;&nbsp;&nbsp;&nbsp; 9634038 |
| &nbsp;&nbsp;19620 | Ameren Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2156631 |
| &nbsp;&nbsp;55997 | Atmos Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10343766 |
| &nbsp;&nbsp;&nbsp;&nbsp;1820 | Constellation Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508235 |
| &nbsp;&nbsp;50539 | DTE Energy Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7389813 |
| 175141 | OGE Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8399762 |
| 424825 | PG&E Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7464175 |
| &nbsp;&nbsp;75573 | Public Service Enterprise Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6117634 |
| &nbsp;&nbsp;&nbsp;&nbsp;3113 | Talen Energy Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993763 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53007817 |
| **TOTAL COMMON STOCK — 98.78%<br> (Cost $962,748,324)** | **TOTAL COMMON STOCK — 98.78%<br> (Cost $962,748,324)** | &nbsp;&nbsp;&nbsp;**$979358674** |

---

---

| | |
|:---|:---|
| **Shares** | &nbsp;&nbsp;&nbsp;**Fair Value** |
| **GOVERNMENT MONEY MARKET MUTUAL FUNDS** | **GOVERNMENT MONEY MARKET MUTUAL FUNDS** |
| 21368241 Dreyfus Institutional Preferred Government Money Market Fund Institutional Class<sup>(c)</sup>, 3.60%<sup>(d)</sup> | &nbsp;&nbsp;&nbsp;$21368241 |
| **TOTAL GOVERNMENT MONEY MARKET MUTUAL FUNDS — 2.15%<br> (Cost $21,368,241)** | &nbsp;&nbsp;&nbsp;&nbsp;**$21368241** |
| **TOTAL INVESTMENTS — 100.93%<br> (Cost $984,116,565)** | &nbsp;&nbsp;&nbsp;**$1000726915** |
| **OTHER ASSETS & LIABILITIES, NET — (0.93)%** | &nbsp;&nbsp;&nbsp;&nbsp;**$(9233036)** |
| **TOTAL NET ASSETS — 100.00%** | &nbsp;&nbsp;&nbsp;**$991493879** |

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of the security is on loan as of March 31, 2026.

<sup>(c)</sup> Collateral received for securities on loan.

<sup>(d)</sup> Rate shown is the 7-day yield as of March 31, 2026.

<sup>REIT</sup> Real Estate Investment Trust

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| As of March 31, 2026, the Fund held the following outstanding exchange traded futures contracts: | As of March 31, 2026, the Fund held the following outstanding exchange traded futures contracts: | As of March 31, 2026, the Fund held the following outstanding exchange traded futures contracts: | As of March 31, 2026, the Fund held the following outstanding exchange traded futures contracts: | As of March 31, 2026, the Fund held the following outstanding exchange traded futures contracts: | As of March 31, 2026, the Fund held the following outstanding exchange traded futures contracts: |
| **Description** | **Number of<br> Contracts** | **Notional Amount<br> (000)** | **Notional Amount<br> (000)** | **Expiration<br> Date** | **Fair Value and<br> Net Unrealized<br> (Depreciation)** |
| **Long** |  |  |  |  |  |
| S&P Mid 400® Emini Futures | 24 | USD | 8152 | Jun 2026 | $(50856) |
|  |  |  |  | **Net Depreciation** | **$(50856)** |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER S&P MID CAP 400® INDEX FUND

### Schedule of Investments
*As of March 31, 2026 (Unaudited)*

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| **COMMON STOCK** | **COMMON STOCK** | **COMMON STOCK** |
| Basic Materials — 4.76% | Basic Materials — 4.76% | Basic Materials — 4.76% |
| 120241 | Alcoa Corp | &nbsp;&nbsp;&nbsp;$7975586 |
| &nbsp;&nbsp;20817 | Ashland Inc | &nbsp;&nbsp;&nbsp;&nbsp; 1157633 |
| &nbsp;&nbsp;99465 | Axalta Coating Systems Ltd<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 2755181 |
| &nbsp;&nbsp;24474 | Cabot Corp | &nbsp;&nbsp;&nbsp;&nbsp; 1843137 |
| &nbsp;&nbsp;23160 | Carpenter Technology Corp | &nbsp;&nbsp;&nbsp;&nbsp; 9128514 |
| 262843 | Cleveland-Cliffs Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 2221023 |
| &nbsp;&nbsp;51480 | Commercial Metals Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3162416 |
| 312576 | Hecla Mining Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5823291 |
| &nbsp;&nbsp;62458 | MP Materials Corp<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3014223 |
| &nbsp;&nbsp;&nbsp;&nbsp;3681 | NewMarket Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2359337 |
| &nbsp;&nbsp;52452 | Olin Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1559398 |
| &nbsp;&nbsp;24332 | Reliance Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7394981 |
| &nbsp;&nbsp;37643 | Royal Gold Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9579767 |
| &nbsp;&nbsp;59568 | RPM International Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5921059 |
| &nbsp;&nbsp;73891 | Solstice Advanced Materials Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5627539 |
| &nbsp;&nbsp;15622 | Westlake Corp<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1824962 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71348047 |
| Communications — 1.70% | Communications — 1.70% | Communications — 1.70% |
| 110557 | Chewy Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2985039 |
| &nbsp;&nbsp;98467 | Hims & Hers Health Inc<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2044175 |
| &nbsp;&nbsp;12053 | InterDigital Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3640006 |
| &nbsp;&nbsp;84795 | Maplebear Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3176421 |
| &nbsp;&nbsp;74970 | New York Times Co Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6277238 |
| &nbsp;&nbsp;13247 | Nexstar Media Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2395455 |
| 272806 | Pinterest Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5003262 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25521596 |
| Consumer, Cyclical — 13.37% | Consumer, Cyclical — 13.37% | Consumer, Cyclical — 13.37% |
| &nbsp;&nbsp;21703 | Abercrombie & Fitch Co Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983003 |
| &nbsp;&nbsp;53227 | Alaska Air Group Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1957689 |
| 307397 | American Airlines Group Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3301444 |
| 121958 | Aramark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4944177 |
| &nbsp;&nbsp;32400 | Autoliv Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3407184 |
| &nbsp;&nbsp;12183 | AutoNation Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2378853 |
| &nbsp;&nbsp;96063 | Bath & Body Works Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1793496 |
| &nbsp;&nbsp;61188 | BJ's Wholesale Club Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6022123 |
| &nbsp;&nbsp;96420 | BorgWarner Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5231749 |
| &nbsp;&nbsp;26593 | Boyd Gaming Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2185413 |
| &nbsp;&nbsp;29923 | Brunswick Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2177198 |
| &nbsp;&nbsp;28929 | Burlington Stores Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9412918 |
| &nbsp;&nbsp;54454 | Capri Holdings Ltd<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959479 |
| &nbsp;&nbsp;17238 | Casey's General Stores Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12546851 |
| &nbsp;&nbsp;46211 | Cava Group Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3738470 |
| &nbsp;&nbsp;&nbsp;&nbsp;9866 | Choice Hotels International Inc<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021131 |
| &nbsp;&nbsp;30806 | Churchill Downs Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2767303 |
| &nbsp;&nbsp;11333 | Columbia Sportswear Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621162 |
| &nbsp;&nbsp;88286 | Core & Main Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4361328 |
| &nbsp;&nbsp;24111 | Crocs Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2001695 |
| &nbsp;&nbsp;30808 | Dick's Sporting Goods Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6108918 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Consumer, Cyclical — (continued) | Consumer, Cyclical — (continued) | Consumer, Cyclical — (continued) |
| &nbsp;&nbsp;27975 | Dolby Laboratories Inc Class A | &nbsp;&nbsp;&nbsp;$1680179 |
| &nbsp;&nbsp;58716 | Dutch Bros Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 2974552 |
| &nbsp;&nbsp;17981 | FirstCash Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp; 3380428 |
| &nbsp;&nbsp;25613 | Five Below Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 5852058 |
| &nbsp;&nbsp;50430 | Floor & Decor Holdings Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 2561844 |
| 191396 | GameStop Corp Class A<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 4409764 |
| 105378 | Gap Inc | &nbsp;&nbsp;&nbsp;&nbsp; 2550148 |
| 102413 | Gentex Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2237724 |
| 127757 | Goodyear Tire & Rubber Co<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847029 |
| &nbsp;&nbsp;56256 | Harley-Davidson Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1137496 |
| &nbsp;&nbsp;28518 | Hilton Grand Vacations Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1115624 |
| &nbsp;&nbsp;19108 | Hyatt Hotels Corp Class A<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2747539 |
| &nbsp;&nbsp;29773 | KB Home | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1540753 |
| &nbsp;&nbsp;23526 | Lear Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2848528 |
| &nbsp;&nbsp;11220 | Lithia Motors Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2801858 |
| 125004 | Macy's Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2261322 |
| 142322 | Mattel Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2067939 |
| &nbsp;&nbsp;21171 | MSC Industrial Direct Co Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1953448 |
| &nbsp;&nbsp;&nbsp;&nbsp;7869 | Murphy USA Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3887050 |
| &nbsp;&nbsp;28710 | Ollie's Bargain Outlet Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2642468 |
| &nbsp;&nbsp;&nbsp;&nbsp;8440 | Penske Automotive Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1261949 |
| &nbsp;&nbsp;38200 | Planet Fitness Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2841316 |
| &nbsp;&nbsp;25159 | Polaris Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1371165 |
| &nbsp;&nbsp;21864 | PVH Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525233 |
| &nbsp;&nbsp;86286 | RB Global Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8270513 |
| &nbsp;&nbsp;&nbsp;&nbsp;6911 | RH<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966296 |
| &nbsp;&nbsp;20644 | Scotts Miracle-Gro Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255362 |
| &nbsp;&nbsp;97504 | Somnigroup International Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7207496 |
| &nbsp;&nbsp;45369 | Taylor Morrison Home Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2642291 |
| &nbsp;&nbsp;30843 | Texas Roadhouse Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5093413 |
| &nbsp;&nbsp;24238 | Thor Industries Inc<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1936374 |
| &nbsp;&nbsp;44456 | Toll Brothers Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6066910 |
| &nbsp;&nbsp;29877 | Travel + Leisure Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2067190 |
| &nbsp;&nbsp;16812 | Vail Resorts Inc<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2157316 |
| 150855 | VF Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2563026 |
| &nbsp;&nbsp;12843 | Visteon Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170126 |
| &nbsp;&nbsp;68706 | Warner Music Group Corp Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1754751 |
| &nbsp;&nbsp;16220 | Watsco Inc<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900674 |
| &nbsp;&nbsp;22680 | WESCO International Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6205701 |
| &nbsp;&nbsp;28937 | Whirlpool Corp<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1560283 |
| &nbsp;&nbsp;13116 | Wingstop Inc<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2032587 |
| &nbsp;&nbsp;35078 | Wyndham Hotels & Resorts Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2849386 |
| &nbsp;&nbsp;35517 | YETI Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1299567 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200418260 |
| Consumer, Non-Cyclical — 14.93% | Consumer, Non-Cyclical — 14.93% | Consumer, Non-Cyclical — 14.93% |
| 172070 | Albertsons Cos Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2932073 |
| 178271 | API Group Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7223541 |
| &nbsp;&nbsp;64965 | Arrowhead Pharmaceuticals Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4073306 |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER S&P MID CAP 400® INDEX FUND

### Schedule of Investments
*As of March 31, 2026 (Unaudited)*

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Consumer, Non-Cyclical — (continued) | Consumer, Non-Cyclical — (continued) | Consumer, Non-Cyclical — (continued) |
| 320293 | Avantor Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;$2511097 |
| &nbsp;&nbsp;&nbsp;&nbsp;7696 | Avis Budget Group Inc<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 1122462 |
| &nbsp;&nbsp;57856 | BellRing Brands Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 930903 |
| &nbsp;&nbsp;89408 | BioMarin Pharmaceutical Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 5050658 |
| &nbsp;&nbsp;&nbsp;&nbsp;8473 | Bio-Rad Laboratories Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 2361849 |
| &nbsp;&nbsp;55901 | Booz Allen Hamilton Holding Corp | &nbsp;&nbsp;&nbsp;&nbsp; 4361955 |
| &nbsp;&nbsp;&nbsp;&nbsp;3473 | Boston Beer Co Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 800179 |
| &nbsp;&nbsp;19134 | Brink's Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1982856 |
| &nbsp;&nbsp;52624 | Bruker Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900779 |
| &nbsp;&nbsp;73670 | Celsius Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2613812 |
| &nbsp;&nbsp;&nbsp;&nbsp;6630 | Chemed Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2504416 |
| &nbsp;&nbsp;26235 | Coca-Cola Consolidated Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5030299 |
| 182128 | Coty Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366077 |
| &nbsp;&nbsp;56789 | Cytokinetics Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3742963 |
| &nbsp;&nbsp;73372 | Darling Ingredients Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4538058 |
| &nbsp;&nbsp;90792 | DENTSPLY SIRONA Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053187 |
| 232035 | Elanco Animal Health Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5552598 |
| &nbsp;&nbsp;27330 | elf Beauty Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1656471 |
| &nbsp;&nbsp;46768 | Encompass Health Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4523869 |
| &nbsp;&nbsp;26946 | Ensign Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5429619 |
| &nbsp;&nbsp;77213 | Envista Holdings Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1958894 |
| &nbsp;&nbsp;18519 | Euronet Worldwide Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1229106 |
| 120940 | Exelixis Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5187117 |
| &nbsp;&nbsp;97789 | Flowers Foods Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796980 |
| &nbsp;&nbsp;13991 | FTI Consulting Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2473189 |
| &nbsp;&nbsp;51456 | Globus Medical Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4433449 |
| &nbsp;&nbsp;&nbsp;&nbsp;1609 | Graham Holdings Co Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1701131 |
| &nbsp;&nbsp;12743 | Grand Canyon Education Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2166692 |
| &nbsp;&nbsp;58593 | H&R Block Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1859742 |
| &nbsp;&nbsp;21509 | Haemonetics Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212247 |
| &nbsp;&nbsp;55079 | Halozyme Therapeutics Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3559756 |
| &nbsp;&nbsp;39466 | HealthEquity Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3298174 |
| &nbsp;&nbsp;71097 | Illumina Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8763416 |
| &nbsp;&nbsp;29298 | Ingredion Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300713 |
| &nbsp;&nbsp;28490 | Jazz Pharmaceuticals PLC<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5386035 |
| &nbsp;&nbsp;31006 | Lantheus Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2351805 |
| &nbsp;&nbsp;25350 | LivaNova PLC<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1611246 |
| &nbsp;&nbsp;&nbsp;&nbsp;9401 | Marzetti Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300440 |
| &nbsp;&nbsp;21174 | Masimo Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3766219 |
| &nbsp;&nbsp;10412 | Medpace Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4999738 |
| &nbsp;&nbsp;10818 | Morningstar Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1828783 |
| &nbsp;&nbsp;46735 | Neurocrine Biosciences Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6156869 |
| &nbsp;&nbsp;74341 | Option Care Health Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2001260 |
| &nbsp;&nbsp;20580 | Paylocity Holding Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2223463 |
| &nbsp;&nbsp;18206 | Penumbra Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5978304 |
| &nbsp;&nbsp;72949 | Performance Food Group Co<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6248811 |
| &nbsp;&nbsp;20144 | Pilgrim's Pride Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760637 |
| &nbsp;&nbsp;19756 | Post Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1953078 |
| &nbsp;&nbsp;24414 | Repligen Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2876457 |
| 209225 | Roivant Sciences Ltd<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5795532 |
| &nbsp;&nbsp;64495 | Service Corp International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5321483 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Consumer, Non-Cyclical — (continued) | Consumer, Non-Cyclical — (continued) | Consumer, Non-Cyclical — (continued) |
| &nbsp;&nbsp;30738 | Shift4 Payments Inc Class A<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;$1344173 |
| 107053 | Sotera Health Co<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 1535140 |
| &nbsp;&nbsp;45199 | Sprouts Farmers Market Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 3486199 |
| &nbsp;&nbsp;40827 | Tenet Healthcare Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 7704463 |
| &nbsp;&nbsp;89565 | TransUnion | &nbsp;&nbsp;&nbsp;&nbsp; 6197003 |
| &nbsp;&nbsp;35825 | UL Solutions Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp; 3070561 |
| &nbsp;&nbsp;20008 | United Therapeutics Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 11864344 |
| 102371 | US Foods Holding Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9439630 |
| &nbsp;&nbsp;60193 | Valvoline Inc<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027300 |
| &nbsp;&nbsp;16095 | WEX Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2463179 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223895785 |
| Energy — 5.93% | Energy — 5.93% | Energy — 5.93% |
| 152822 | Antero Midstream Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3484342 |
| 136594 | Antero Resources Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5797049 |
| &nbsp;&nbsp;26311 | Chord Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3740898 |
| &nbsp;&nbsp;66578 | CNX Resources Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2566582 |
| &nbsp;&nbsp;47313 | DT Midstream Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6371642 |
| &nbsp;&nbsp;72774 | HF Sinclair Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4540370 |
| &nbsp;&nbsp;54360 | Matador Resources Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3434465 |
| &nbsp;&nbsp;63084 | Murphy Oil Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2602215 |
| &nbsp;&nbsp;68967 | Nextpower Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8313972 |
| 165888 | NOV Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3120353 |
| 128761 | Ovintiv Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7643253 |
| &nbsp;&nbsp;39253 | PBF Energy Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1869228 |
| 344560 | Permian Resources Corp Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7346019 |
| 110525 | Range Resources Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4993520 |
| 188288 | TechnipFMC PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13016347 |
| &nbsp;&nbsp;29787 | Valaris Ltd<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2920317 |
| &nbsp;&nbsp;86802 | Viper Energy Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4078826 |
| &nbsp;&nbsp;33054 | Weatherford International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3126247 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88965645 |
| Financial — 20.89% | Financial — 20.89% | Financial — 20.89% |
| &nbsp;&nbsp;13220 | Affiliated Managers Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3657974 |
| &nbsp;&nbsp;55613 | Agree Realty Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4192108 |
| 131322 | Ally Financial Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5151762 |
| &nbsp;&nbsp;31969 | American Financial Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4082761 |
| &nbsp;&nbsp;81855 | American Healthcare Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3860282 |
| 151346 | American Homes 4 Rent Class A REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4225580 |
| 333817 | Annaly Capital Management Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7060230 |
| &nbsp;&nbsp;77473 | Associated Banc-Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2003452 |
| &nbsp;&nbsp;48132 | Bank OZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208778 |
| &nbsp;&nbsp;26154 | Brighthouse Financial Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1566102 |
| 142312 | Brixmor Property Group Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4098586 |
| 103439 | CareTrust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3791039 |
| 120365 | Carlyle Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5824462 |
| &nbsp;&nbsp;44606 | CNO Financial Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1831522 |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER S&P MID CAP 400® INDEX FUND

### Schedule of Investments
*As of March 31, 2026 (Unaudited)*

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Financial — (continued) | Financial — (continued) | Financial — (continued) |
| 137768 | Columbia Banking System Inc | &nbsp;&nbsp;&nbsp;$3778976 |
| &nbsp;&nbsp;63573 | Commerce Bancshares Inc | &nbsp;&nbsp;&nbsp;&nbsp; 3127792 |
| &nbsp;&nbsp;53688 | COPT Defense Properties REIT | &nbsp;&nbsp;&nbsp;&nbsp; 1642853 |
| 119371 | Corebridge Financial Inc | &nbsp;&nbsp;&nbsp;&nbsp; 2848192 |
| &nbsp;&nbsp;79748 | Cousins Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp; 1799912 |
| 106350 | CubeSmart REIT | &nbsp;&nbsp;&nbsp;&nbsp; 3897728 |
| &nbsp;&nbsp;29288 | Cullen/Frost Bankers Inc | &nbsp;&nbsp;&nbsp;&nbsp; 4014799 |
| &nbsp;&nbsp;63926 | East West Bancorp Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6824740 |
| &nbsp;&nbsp;24638 | EastGroup Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4560247 |
| &nbsp;&nbsp;36057 | EPR Properties REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1801408 |
| 131019 | Equitable Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4862115 |
| &nbsp;&nbsp;90466 | Equity LifeStyle Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5646888 |
| &nbsp;&nbsp;44589 | Essent Group Ltd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2605781 |
| &nbsp;&nbsp;18072 | Evercore Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5394673 |
| &nbsp;&nbsp;34376 | Federated Hermes Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1949463 |
| 118339 | Fidelity National Financial Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5488563 |
| &nbsp;&nbsp;46878 | First American Financial Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2826275 |
| &nbsp;&nbsp;61269 | First Financial Bankshares Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804372 |
| 224958 | First Horizon Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5120044 |
| &nbsp;&nbsp;61590 | First Industrial Realty Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3562981 |
| 138041 | Flagstar Bank NA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1818000 |
| 168600 | FNB Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2818992 |
| 132293 | Gaming & Leisure Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5869840 |
| &nbsp;&nbsp;59992 | Glacier Bancorp Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2679843 |
| &nbsp;&nbsp;19341 | Hamilton Lane Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1922495 |
| &nbsp;&nbsp;39016 | Hancock Whitney Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2481027 |
| &nbsp;&nbsp;16362 | Hanover Insurance Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2836353 |
| 164275 | Healthcare Realty Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2791032 |
| &nbsp;&nbsp;86532 | Home BancShares Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2330307 |
| &nbsp;&nbsp;25242 | Houlihan Lokey Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3625256 |
| 111160 | Independence Realty Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1655172 |
| &nbsp;&nbsp;25467 | International Bancshares Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1713674 |
| &nbsp;&nbsp;57423 | Janus Henderson Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2949820 |
| &nbsp;&nbsp;76177 | Jefferies Financial Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3143825 |
| &nbsp;&nbsp;21919 | Jones Lang LaSalle Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6670390 |
| &nbsp;&nbsp;50872 | Kilroy Realty Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435099 |
| &nbsp;&nbsp;10345 | Kinsale Capital Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3534473 |
| 100139 | Kite Realty Group Trust REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2458412 |
| &nbsp;&nbsp;40529 | Lamar Advertising Co Class A REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5133403 |
| 103854 | MGIC Investment Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2726167 |
| &nbsp;&nbsp;33654 | National Storage Affiliates Trust REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270102 |
| &nbsp;&nbsp;88032 | NNN Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3699985 |
| 161422 | Old National Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3567426 |
| 105572 | Old Republic International Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4212323 |
| 137178 | Omega Healthcare Investors Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6011140 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Financial — (continued) | Financial — (continued) | Financial — (continued) |
| &nbsp;&nbsp;90689 | Park Hotels & Resorts Inc REIT<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;$954955 |
| &nbsp;&nbsp;69935 | Pinnacle Financial Partners Inc | &nbsp;&nbsp;&nbsp;&nbsp; 6024201 |
| &nbsp;&nbsp;14882 | Primerica Inc | &nbsp;&nbsp;&nbsp;&nbsp; 3727643 |
| &nbsp;&nbsp;46909 | Prosperity Bancshares Inc | &nbsp;&nbsp;&nbsp;&nbsp; 3151347 |
| 129633 | Rayonier Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp; 2673032 |
| &nbsp;&nbsp;30660 | Reinsurance Group of America Inc | &nbsp;&nbsp;&nbsp;&nbsp; 6259546 |
| &nbsp;&nbsp;20277 | RenaissanceRe Holdings Ltd | &nbsp;&nbsp;&nbsp;&nbsp; 6026933 |
| 107571 | Rexford Industrial Realty Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3520799 |
| &nbsp;&nbsp;42442 | RLI Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2420892 |
| &nbsp;&nbsp;52182 | Ryan Specialty Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1760621 |
| 116290 | Sabra Health Care Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2236257 |
| &nbsp;&nbsp;43101 | SEI Investments Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3382135 |
| &nbsp;&nbsp;27687 | Selective Insurance Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2087323 |
| &nbsp;&nbsp;91919 | SLM Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1967986 |
| &nbsp;&nbsp;46289 | SouthState Bank Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4282658 |
| &nbsp;&nbsp;88483 | STAG Industrial Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3190697 |
| 164155 | Starwood Property Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2826749 |
| &nbsp;&nbsp;70728 | Stifel Financial Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5228214 |
| &nbsp;&nbsp;20912 | Texas Capital Bancshares Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1984131 |
| &nbsp;&nbsp;33197 | UMB Financial Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3744290 |
| &nbsp;&nbsp;64564 | United Bankshares Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2674241 |
| &nbsp;&nbsp;70715 | Unum Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5164316 |
| 223321 | Valley National Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2742382 |
| &nbsp;&nbsp;75793 | Vornado Realty Trust REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1969860 |
| &nbsp;&nbsp;43868 | Voya Financial Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2997062 |
| &nbsp;&nbsp;74793 | Webster Financial Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5192130 |
| &nbsp;&nbsp;47643 | Western Alliance Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3375506 |
| &nbsp;&nbsp;31053 | Wintrust Financial Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4314504 |
| 101713 | WP Carey Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6912415 |
| &nbsp;&nbsp;68610 | Zions Bancorp NA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3953308 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313213129 |
| Industrial — 25.25% | Industrial — 25.25% | Industrial — 25.25% |
| &nbsp;&nbsp;31702 | AAON Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2623341 |
| &nbsp;&nbsp;14223 | Acuity Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3985569 |
| &nbsp;&nbsp;33561 | Advanced Drainage Systems Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4602220 |
| &nbsp;&nbsp;17681 | Advanced Energy Industries Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5705835 |
| &nbsp;&nbsp;60442 | AECOM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5126690 |
| &nbsp;&nbsp;14703 | AeroVironment Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2691384 |
| &nbsp;&nbsp;28201 | AGCO Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3267650 |
| &nbsp;&nbsp;17350 | Applied Industrial Technologies Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4603302 |
| &nbsp;&nbsp;30146 | AptarGroup Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3798999 |
| &nbsp;&nbsp;23632 | Arrow Electronics Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3389065 |
| &nbsp;&nbsp;63150 | ATI Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9185799 |
| &nbsp;&nbsp;41450 | Avient Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504635 |
| &nbsp;&nbsp;38203 | Avnet Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2354069 |
| &nbsp;&nbsp;17994 | Belden Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2066251 |
| &nbsp;&nbsp;42483 | BWX Technologies Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8687349 |
| &nbsp;&nbsp;19009 | Carlisle Cos Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6341783 |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER S&P MID CAP 400® INDEX FUND

### Schedule of Investments
*As of March 31, 2026 (Unaudited)*

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Industrial — (continued) | Industrial — (continued) | Industrial — (continued) |
| &nbsp;&nbsp;20833 | Chart Industries Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;$4307223 |
| &nbsp;&nbsp;23417 | Clean Harbors Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 6714356 |
| 408698 | CNH Industrial NV | &nbsp;&nbsp;&nbsp;&nbsp; 4495678 |
| &nbsp;&nbsp;76474 | Cognex Corp | &nbsp;&nbsp;&nbsp;&nbsp; 3746461 |
| &nbsp;&nbsp;22695 | Crane Co | &nbsp;&nbsp;&nbsp;&nbsp; 3880845 |
| &nbsp;&nbsp;52274 | Crown Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp; 5240469 |
| &nbsp;&nbsp;17145 | Curtiss-Wright Corp | &nbsp;&nbsp;&nbsp;&nbsp; 11677803 |
| &nbsp;&nbsp;53459 | Donaldson Co Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4537065 |
| &nbsp;&nbsp;13911 | Dycom Industries Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4713325 |
| &nbsp;&nbsp;14709 | Eagle Materials Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2786620 |
| &nbsp;&nbsp;17113 | EnerSys | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2972870 |
| &nbsp;&nbsp;70756 | Entegris Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8295434 |
| &nbsp;&nbsp;26723 | ESAB Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2583045 |
| &nbsp;&nbsp;23121 | Exponent Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1508645 |
| &nbsp;&nbsp;16666 | Fabrinet<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8691652 |
| 171201 | Flex Ltd<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11206817 |
| &nbsp;&nbsp;59281 | Flowserve Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4357746 |
| &nbsp;&nbsp;75016 | Fluor Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3499496 |
| &nbsp;&nbsp;56620 | Fortune Brands Innovations Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2206481 |
| &nbsp;&nbsp;16717 | GATX Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2854261 |
| &nbsp;&nbsp;77000 | Graco Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6518050 |
| 137470 | Graphic Packaging Holding Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1366452 |
| &nbsp;&nbsp;11512 | Greif Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772110 |
| &nbsp;&nbsp;53588 | GXO Logistics Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2778538 |
| &nbsp;&nbsp;35361 | Hexcel Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2861766 |
| &nbsp;&nbsp;39937 | ITT Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7609197 |
| &nbsp;&nbsp;25354 | Kirby Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3369040 |
| &nbsp;&nbsp;26746 | Knife River Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2183811 |
| &nbsp;&nbsp;75230 | Knight-Swift Transportation Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4331743 |
| &nbsp;&nbsp;85783 | Kratos Defense & Security Solutions Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6048559 |
| &nbsp;&nbsp;15920 | Landstar System Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2552135 |
| &nbsp;&nbsp;25678 | Lincoln Electric Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6395876 |
| &nbsp;&nbsp;11589 | Littelfuse Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3932727 |
| &nbsp;&nbsp;29253 | Louisiana-Pacific Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2128156 |
| &nbsp;&nbsp;28523 | MasTec Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9176990 |
| &nbsp;&nbsp;21544 | Middleby Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2856304 |
| &nbsp;&nbsp;13174 | Moog Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3855239 |
| &nbsp;&nbsp;16908 | MSA Safety Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2772067 |
| &nbsp;&nbsp;51977 | Mueller Industries Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5759052 |
| &nbsp;&nbsp;16387 | Novanta Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1935469 |
| &nbsp;&nbsp;75017 | nVent Electric PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8873011 |
| &nbsp;&nbsp;29326 | Oshkosh Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4317080 |
| &nbsp;&nbsp;38377 | Owens Corning | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4153159 |
| &nbsp;&nbsp;14690 | RBC Bearings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7978433 |
| &nbsp;&nbsp;30814 | Regal Rexnord Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5770230 |
| &nbsp;&nbsp;18308 | Ryder System Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3747831 |
| &nbsp;&nbsp;12367 | Saia Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4344280 |
| &nbsp;&nbsp;66645 | Sensata Technologies Holding PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2347237 |
| &nbsp;&nbsp;41064 | Silgan Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1593283 |
| &nbsp;&nbsp;19494 | Simpson Manufacturing Co Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3345560 |
| &nbsp;&nbsp;46379 | Sonoco Products Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2508640 |
| &nbsp;&nbsp;23338 | SPX Technologies Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4666200 |
| &nbsp;&nbsp;88704 | StandardAero Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2291224 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Industrial — (continued) | Industrial — (continued) | Industrial — (continued) |
| &nbsp;&nbsp;14258 | Sterling Infrastructure Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;$5806855 |
| &nbsp;&nbsp;34723 | TD SYNNEX Corp | &nbsp;&nbsp;&nbsp;&nbsp; 5858117 |
| &nbsp;&nbsp;53458 | Terex Corp | &nbsp;&nbsp;&nbsp;&nbsp; 3159368 |
| 122470 | Tetra Tech Inc | &nbsp;&nbsp;&nbsp;&nbsp; 3688796 |
| &nbsp;&nbsp;29773 | Timken Co | &nbsp;&nbsp;&nbsp;&nbsp; 2994271 |
| &nbsp;&nbsp;13101 | TopBuild Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 4602381 |
| &nbsp;&nbsp;45162 | Toro Co | &nbsp;&nbsp;&nbsp;&nbsp; 4219937 |
| &nbsp;&nbsp;50888 | Trex Co Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1853341 |
| &nbsp;&nbsp;47775 | TTM Technologies Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4654241 |
| &nbsp;&nbsp;27393 | UFP Industries Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2523443 |
| &nbsp;&nbsp;20922 | Universal Display Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1917711 |
| &nbsp;&nbsp;&nbsp;&nbsp;9144 | Valmont Industries Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3653668 |
| &nbsp;&nbsp;10519 | Vicor Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1693559 |
| &nbsp;&nbsp;67379 | Vontier Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2389933 |
| &nbsp;&nbsp;12748 | Watts Water Technologies Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700617 |
| &nbsp;&nbsp;27703 | Woodward Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9915458 |
| &nbsp;&nbsp;54455 | XPO Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10594220 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378575598 |
| Technology — 8.86% | Technology — 8.86% | Technology — 8.86% |
| &nbsp;&nbsp;58920 | Allegro MicroSystems Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1857748 |
| &nbsp;&nbsp;52797 | Amkor Technology Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2377449 |
| &nbsp;&nbsp;11308 | Appfolio Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1784629 |
| &nbsp;&nbsp;68781 | Bentley Systems Inc Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2415589 |
| &nbsp;&nbsp;40593 | BILL Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554712 |
| &nbsp;&nbsp;16609 | Blackbaud Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641273 |
| &nbsp;&nbsp;10268 | CACI International Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5584457 |
| &nbsp;&nbsp;23987 | Cirrus Logic Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3469000 |
| &nbsp;&nbsp;20102 | Commvault Systems Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1565745 |
| &nbsp;&nbsp;19890 | Concentrix Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544190 |
| &nbsp;&nbsp;23633 | Crane NXT Co<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959263 |
| &nbsp;&nbsp;93791 | Docusign Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4446631 |
| &nbsp;&nbsp;62976 | Doximity Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1467341 |
| &nbsp;&nbsp;80617 | Dropbox Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1831618 |
| &nbsp;&nbsp;18978 | Duolingo Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1870661 |
| 139104 | Dynatrace Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5144066 |
| 145924 | Everpure Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8615353 |
| &nbsp;&nbsp;74087 | ExlService Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2255949 |
| &nbsp;&nbsp;73294 | Genpact Ltd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2730202 |
| &nbsp;&nbsp;39570 | Guidewire Software Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5918089 |
| &nbsp;&nbsp;11598 | IPG Photonics Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1329015 |
| &nbsp;&nbsp;59104 | KBR Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2178573 |
| 106008 | Kyndryl Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390825 |
| &nbsp;&nbsp;63644 | Lattice Semiconductor Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5903617 |
| &nbsp;&nbsp;29981 | MACOM Technology Solutions Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6657881 |
| &nbsp;&nbsp;27763 | Manhattan Associates Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3695811 |
| &nbsp;&nbsp;25671 | Maximus Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1645511 |
| &nbsp;&nbsp;31231 | MKS Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7177196 |
| 125681 | Nutanix Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4777135 |
| &nbsp;&nbsp;78782 | Okta Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6200931 |
| &nbsp;&nbsp;23076 | Onto Innovation Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4732195 |
| &nbsp;&nbsp;24756 | Parsons Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1341033 |
| &nbsp;&nbsp;42721 | Pegasystems Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1818206 |
| &nbsp;&nbsp;16549 | Qualys Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1453830 |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER S&P MID CAP 400® INDEX FUND

### Schedule of Investments
*As of March 31, 2026 (Unaudited)*

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Technology — (continued) | Technology — (continued) | Technology — (continued) |
| &nbsp;&nbsp;50007 | Rambus Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;$4302102 |
| &nbsp;&nbsp;21488 | Science Applications International Corp | &nbsp;&nbsp;&nbsp;&nbsp; 2039641 |
| &nbsp;&nbsp;15300 | Silicon Laboratories Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 3184695 |
| &nbsp;&nbsp;10380 | SiTime Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 3584733 |
| &nbsp;&nbsp;18186 | Synaptics Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 1273747 |
| &nbsp;&nbsp;70507 | Twilio Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 8871191 |
| 201379 | UiPath Inc Class A<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 2235307 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132827140 |
| Utilities — 3.41% | Utilities — 3.41% | Utilities — 3.41% |
| &nbsp;&nbsp;35139 | Black Hills Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2438998 |
| 132107 | Essential Utilities Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5319949 |
| &nbsp;&nbsp;25146 | IDACORP Inc<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3595124 |
| &nbsp;&nbsp;44103 | National Fuel Gas Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4143918 |
| &nbsp;&nbsp;47120 | New Jersey Resources Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2587830 |
| &nbsp;&nbsp;29084 | Northwestern Energy Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1917799 |
| &nbsp;&nbsp;95441 | OGE Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4577350 |
| &nbsp;&nbsp;27945 | ONE Gas Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2406903 |
| &nbsp;&nbsp;28235 | Ormat Technologies Inc<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3160061 |
| &nbsp;&nbsp;51981 | Portland General Electric Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2743037 |
| &nbsp;&nbsp;29971 | Southwest Gas Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2604480 |
| &nbsp;&nbsp;27705 | Spire Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2508411 |
| &nbsp;&nbsp;21233 | Talen Energy Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6778211 |
| &nbsp;&nbsp;45637 | TXNM Energy Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2667939 |
| &nbsp;&nbsp;99732 | UGI Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3632239 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51082249 |
| **TOTAL COMMON STOCK — 99.10%<br> (Cost $1,289,666,557)** | **TOTAL COMMON STOCK — 99.10%<br> (Cost $1,289,666,557)** | &nbsp;&nbsp;&nbsp;**$1485847449** |

---

---

| | |
|:---|:---|
| **Shares** | &nbsp;&nbsp;&nbsp;**Fair Value** |
| **GOVERNMENT MONEY MARKET MUTUAL FUNDS** | **GOVERNMENT MONEY MARKET MUTUAL FUNDS** |
| 34143491 Dreyfus Institutional Preferred Government Money Market Fund Institutional Class<sup>(c)</sup>, 3.60%<sup>(d)</sup> | &nbsp;&nbsp;&nbsp;$34143491 |
| **TOTAL GOVERNMENT MONEY MARKET MUTUAL FUNDS — 2.28%<br> (Cost $34,143,491)** | &nbsp;&nbsp;&nbsp;&nbsp;**$34143491** |
| **Principal Amount** |  |
| **SHORT TERM INVESTMENTS** | **SHORT TERM INVESTMENTS** |
| U.S. Treasury Bonds and Notes — 0.63% | U.S. Treasury Bonds and Notes — 0.63% |
| &nbsp;&nbsp;9566400 U.S. Treasury Bills<sup>(e)</sup><br> 3.63%, 06/04/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 9505052 |
| **TOTAL SHORT TERM INVESTMENTS — 0.63%<br> (Cost $9,505,052)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$9505052** |
| **TOTAL INVESTMENTS — 102.01%<br> (Cost $1,333,315,100)** | &nbsp;&nbsp;&nbsp;**$1529495992** |
| **OTHER ASSETS & LIABILITIES, NET — (2.01)%** | &nbsp;&nbsp;&nbsp;&nbsp;**$(30166622)** |
| **TOTAL NET ASSETS — 100.00%** | &nbsp;&nbsp;&nbsp;**$1499329370** |

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of the security is on loan as of March 31, 2026.

<sup>(c)</sup> Collateral received for securities on loan.

<sup>(d)</sup> Rate shown is the 7-day yield as of March 31, 2026.

<sup>(e)</sup> Zero coupon bond; the interest rate shown is the effective yield on date of purchase.

<sup>REIT</sup> Real Estate Investment Trust

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| As of March 31, 2026, the Fund held the following outstanding exchange traded futures contracts: | As of March 31, 2026, the Fund held the following outstanding exchange traded futures contracts: | As of March 31, 2026, the Fund held the following outstanding exchange traded futures contracts: | As of March 31, 2026, the Fund held the following outstanding exchange traded futures contracts: | As of March 31, 2026, the Fund held the following outstanding exchange traded futures contracts: | As of March 31, 2026, the Fund held the following outstanding exchange traded futures contracts: |
| **Description** | **Number of<br> Contracts** | **Notional Amount<br> (000)** | **Notional Amount<br> (000)** | **Expiration<br> Date** | **Fair Value and<br> Net Unrealized<br> Appreciation** |
| **Long** |  |  |  |  |  |
| S&P Mid 400® Emini Futures | 41 | USD | 13926 | Jun 2026 | $138460 |
|  |  |  |  | **Net Appreciation** | **$138460** |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER T. ROWE PRICE MID CAP GROWTH FUND

### Schedule of Investments
*As of March 31, 2026 (Unaudited)*

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| **COMMON STOCK** | **COMMON STOCK** | **COMMON STOCK** |
| Communications — 1.97% | Communications — 1.97% | Communications — 1.97% |
| 311821 | New York Times Co Class A | &nbsp;&nbsp;&nbsp;$26108772 |
| &nbsp;&nbsp;83582 | Reddit Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 11254317 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37363089 |
| Consumer, Cyclical — 23.83% | Consumer, Cyclical — 23.83% | Consumer, Cyclical — 23.83% |
| 816604 | Aurora Innovations Inc<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 3364409 |
| 378871 | Birkenstock Holding PLC<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 13574948 |
| 104315 | Burlington Stores Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33942015 |
| &nbsp;&nbsp;17680 | Casey's General Stores Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12868565 |
| 247755 | Dollar Tree Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27131650 |
| &nbsp;&nbsp;75658 | Domino's Pizza Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27145334 |
| 161882 | DraftKings Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3499889 |
| 108300 | Dutch Bros Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5486478 |
| 108591 | Ferguson Enterprises Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25329936 |
| 170800 | Hilton Worldwide Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51936865 |
| 181619 | Liberty Live Holdings Inc Class C<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17092164 |
| 325416 | Liberty Media Corp / Liberty Formula One Class C<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27666868 |
| &nbsp;&nbsp;41244 | Live Nation Entertainment Inc<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6290122 |
| 299593 | Planet Fitness Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22283728 |
| &nbsp;&nbsp;86300 | Pool Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17461079 |
| 147100 | RB Global Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14099535 |
| &nbsp;&nbsp;85521 | Ross Stores Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18526414 |
| 478450 | Sportradar Group AG Class A<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8009253 |
| &nbsp;&nbsp;48548 | Texas Roadhouse Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8017217 |
| &nbsp;&nbsp;38795 | Ulta Beauty Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20278534 |
| 507331 | Viking Holdings Ltd<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37278681 |
| &nbsp;&nbsp;30983 | Wingstop Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4801436 |
| 144619 | Wyndham Hotels & Resorts Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11747401 |
| 222217 | Yum! Brands Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34550299 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452382820 |
| Consumer, Non-Cyclical — 26.43% | Consumer, Non-Cyclical — 26.43% | Consumer, Non-Cyclical — 26.43% |
| 361095 | Agilent Technologies Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41157608 |
| &nbsp;&nbsp;98155 | Alnylam Pharmaceuticals Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32476545 |
| 223517 | API Group Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9056909 |
| &nbsp;&nbsp;67396 | Apogee Therapeutics Inc<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5672721 |
| &nbsp;&nbsp;65010 | Ascendis Pharma A/S ADR<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14869737 |
| 575795 | Avantor Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4514233 |
| 113100 | Avery Dennison Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19530108 |
| &nbsp;&nbsp;42309 | Biogen Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7756509 |
| &nbsp;&nbsp;87270 | BioNTech SE ADR<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7756557 |
| 235503 | Booz Allen Hamilton Holding Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18376299 |
| 214396 | Caris Life Sciences Inc<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3833400 |
| &nbsp;&nbsp;81229 | Cencora Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25517278 |
| &nbsp;&nbsp;62839 | CG Oncology Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4252944 |
| 363375 | Cooper Cos Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25981312 |
| &nbsp;&nbsp;22336 | Corpay Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6499553 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Consumer, Non-Cyclical — (continued) | Consumer, Non-Cyclical — (continued) | Consumer, Non-Cyclical — (continued) |
| &nbsp;&nbsp;86238 | CRISPR Therapeutics AG<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;$4102342 |
| 146000 | Cytokinetics Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 9622860 |
| 761200 | Elanco Animal Health Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 18215516 |
| 123368 | Encompass Health Corp | &nbsp;&nbsp;&nbsp;&nbsp; 11933387 |
| &nbsp;&nbsp;63700 | Equifax Inc | &nbsp;&nbsp;&nbsp;&nbsp; 11470459 |
| &nbsp;&nbsp;72900 | Insulet Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 15297336 |
| 239848 | Ionis Pharmaceuticals Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 18010186 |
| &nbsp;&nbsp;44949 | Kymera Therapeutics Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3743802 |
| 226891 | McCormick & Co Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11444382 |
| &nbsp;&nbsp;45471 | Natera Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9093745 |
| &nbsp;&nbsp;19546 | Nuvalent Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002488 |
| 158048 | Paylocity Holding Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17075506 |
| &nbsp;&nbsp;25600 | Quanta Services Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14054912 |
| 125683 | QuidelOrtho Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2064972 |
| &nbsp;&nbsp;29300 | Revolution Medicines Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2849425 |
| 230466 | Service Corp International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19015750 |
| 156753 | Teleflex Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18749226 |
| 286077 | TransUnion | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19793668 |
| 244049 | UL Solutions Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20917440 |
| 166153 | US Foods Holding Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15320968 |
| 126075 | Vaxcyte Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7326218 |
| &nbsp;&nbsp;89868 | West Pharmaceutical Services Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22524515 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501880816 |
| Energy — 4.37% | Energy — 4.37% | Energy — 4.37% |
| &nbsp;&nbsp;53764 | Cheniere Energy Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15256073 |
| &nbsp;&nbsp;81513 | DT Midstream Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10977356 |
| 375900 | EQT Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23922276 |
| 475203 | TechnipFMC PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32850783 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83006488 |
| Financial — 5.69% | Financial — 5.69% | Financial — 5.69% |
| 131300 | Assurant Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28598453 |
| &nbsp;&nbsp;73500 | Cboe Global Markets Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20658645 |
| &nbsp;&nbsp;&nbsp;&nbsp;6297 | Markel Group Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12052899 |
| 138348 | Raymond James Financial Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20031407 |
| 157060 | Ryan Specialty Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5299204 |
| 126705 | TPG Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5132820 |
| 137608 | Tradeweb Markets Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16190957 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107964385 |
| Industrial — 16.41% | Industrial — 16.41% | Industrial — 16.41% |
| &nbsp;&nbsp;20500 | Acuity Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5744510 |
| &nbsp;&nbsp;27966 | Amphenol Corp Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3533504 |
| 253550 | Ball Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14987340 |
| &nbsp;&nbsp;54900 | BWX Technologies Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11226501 |
| 210428 | ESAB Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20339970 |
| &nbsp;&nbsp;17698 | ESAB Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1539620 |
| 109145 | Fortive Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6033536 |
| 271500 | Ingersoll Rand Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21752580 |
| &nbsp;&nbsp;74279 | ITT Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14152378 |
| 123500 | Keysight Technologies Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34872695 |
| &nbsp;&nbsp;38317 | Martin Marietta Materials Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22556452 |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER T. ROWE PRICE MID CAP GROWTH FUND

### Schedule of Investments
*As of March 31, 2026 (Unaudited)*

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Industrial — (continued) | Industrial — (continued) | Industrial — (continued) |
| &nbsp;&nbsp;29463 | Mettler-Toledo International Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;$37158736 |
| 143200 | Old Dominion Freight Line Inc | &nbsp;&nbsp;&nbsp;&nbsp; 27981280 |
| &nbsp;&nbsp;92962 | Ralliant Corp | &nbsp;&nbsp;&nbsp;&nbsp; 3866289 |
| 471551 | StandardAero Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 12180163 |
| 210464 | Textron Inc | &nbsp;&nbsp;&nbsp;&nbsp; 18428228 |
| &nbsp;&nbsp;21500 | TopBuild Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 7552950 |
| 301600 | Veralto Corp | &nbsp;&nbsp;&nbsp;&nbsp; 26667472 |
| 108300 | XPO Inc<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21069765 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311643969 |
| Technology — 18.65% | Technology — 18.65% | Technology — 18.65% |
| &nbsp;&nbsp;98519 | Atlassian Corp Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6723922 |
| &nbsp;&nbsp;31100 | Broadridge Financial Solutions Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5053128 |
| &nbsp;&nbsp;51716 | Bullish<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1847813 |
| &nbsp;&nbsp;80400 | Descartes Systems Group Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5753424 |
| 234500 | Everpure Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13844880 |
| &nbsp;&nbsp;48353 | Guidewire Software Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7231675 |
| 429890 | Lattice Semiconductor Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39876596 |
| 119404 | MACOM Technology Solutions Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26516046 |
| 136400 | Manhattan Associates Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18157568 |
| 263834 | McGraw Hill Inc<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3614526 |
| 401021 | Microchip Technology Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25909967 |
| &nbsp;&nbsp;26800 | MongoDB Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6559836 |
| &nbsp;&nbsp;28859 | Monolithic Power Systems Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31552987 |
| &nbsp;&nbsp;58300 | MSCI Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31424282 |
| &nbsp;&nbsp;57072 | NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11235194 |
| 235430 | PTC Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33546421 |
| &nbsp;&nbsp;64256 | Rambus Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5527944 |
| &nbsp;&nbsp;82100 | Tyler Technologies Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28109398 |
| 188614 | Unity Software Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4138191 |
| 138652 | Veeva Systems Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24355610 |
| 169951 | Zoom Communications Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13662361 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Technology — (continued) | Technology — (continued) | Technology — (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67189 | Zscaler Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;$9425945 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354067714 |
| **TOTAL COMMON STOCK — 97.35%<br> (Cost $1,695,830,174)** | **TOTAL COMMON STOCK — 97.35%<br> (Cost $1,695,830,174)** | &nbsp;&nbsp;&nbsp;**$1848309281** |
| **CONVERTIBLE PREFERRED STOCK** | **CONVERTIBLE PREFERRED STOCK** | **CONVERTIBLE PREFERRED STOCK** |
| Consumer, Cyclical — 0.03% | Consumer, Cyclical — 0.03% | Consumer, Cyclical — 0.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47688 | Sila Nanotechnologies Inc Series F 0.00%<sup>(c)</sup><sup>(d)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 517892 |
| Technology — 0.06% | Technology — 0.06% | Technology — 0.06% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5763 | Databricks Inc Series G 0.00%<sup>(c)</sup><sup>(d)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1094970 |
| **TOTAL CONVERTIBLE PREFERRED STOCK — 0.09%<br> (Cost $2,308,941)** | **TOTAL CONVERTIBLE PREFERRED STOCK — 0.09%<br> (Cost $2,308,941)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1612862** |
| **GOVERNMENT MONEY MARKET MUTUAL FUNDS** | **GOVERNMENT MONEY MARKET MUTUAL FUNDS** | **GOVERNMENT MONEY MARKET MUTUAL FUNDS** |
| 40406271 | Dreyfus Institutional Preferred Government Money Market Fund Institutional Class<sup>(e)</sup>, 3.60%<sup>(f)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40406271 |
| **TOTAL GOVERNMENT MONEY MARKET MUTUAL FUNDS — 2.13%<br> (Cost $40,406,271)** | **TOTAL GOVERNMENT MONEY MARKET MUTUAL FUNDS — 2.13%<br> (Cost $40,406,271)** | &nbsp;&nbsp;&nbsp;&nbsp;**$40406271** |
| **TOTAL INVESTMENTS — 99.57%<br> (Cost $1,738,545,386)** | **TOTAL INVESTMENTS — 99.57%<br> (Cost $1,738,545,386)** | &nbsp;&nbsp;&nbsp;**$1890328414** |
| **OTHER ASSETS & LIABILITIES, NET — 0.43%** | **OTHER ASSETS & LIABILITIES, NET — 0.43%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$8222968** |
| **TOTAL NET ASSETS — 100.00%** | **TOTAL NET ASSETS — 100.00%** | &nbsp;&nbsp;&nbsp;**$1898551382** |

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of the security is on loan as of March 31, 2026.

<sup>(c)</sup> Restricted security; further details of these securities are included in a subsequent table.

<sup>(d)</sup> Security is fair valued using significant unobservable inputs.

<sup>(e)</sup> Collateral received for securities on loan.

<sup>(f)</sup> Rate shown is the 7-day yield as of March 31, 2026.

<sup>ADR</sup> American Depositary Receipt

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER T. ROWE PRICE MID CAP GROWTH FUND

### Schedule of Investments
*As of March 31, 2026 (Unaudited)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| As of March 31, 2026, the Fund held the following restricted securities: | As of March 31, 2026, the Fund held the following restricted securities: | As of March 31, 2026, the Fund held the following restricted securities: | As of March 31, 2026, the Fund held the following restricted securities: |  |
| **Security** | &nbsp;&nbsp;**Acquisition<br> Dates** | &nbsp;&nbsp;**Cost** | &nbsp;&nbsp;**Fair Value** | &nbsp;&nbsp;**Fair Value<br> as a<br> Percentage of<br> Net Assets** |
| **Convertible Preferred Stock** |  |  |  |  |
| Databricks Inc Series G 0.00%<sup>(d)</sup> | &nbsp;&nbsp;02/01/2021 | &nbsp;&nbsp;$340724 | &nbsp;&nbsp;$1094970 | &nbsp;&nbsp;0.06% |
| Sila Nanotechnologies Inc Series F 0.00%<sup>(d)</sup> | &nbsp;&nbsp;01/07/2021 | &nbsp;&nbsp;1968217 | &nbsp;&nbsp;517892 | &nbsp;&nbsp;0.03 |
|  |  | &nbsp;&nbsp;**$2308941** | &nbsp;&nbsp;**$1612862** | &nbsp;&nbsp;**0.09%** |
| <sup>(d)</sup> Security is fair valued using significant unobservable inputs. |  |  |  |  |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.

### Notes to Schedule of Investments (Unaudited)

------

<u>Security Valuation</u>

The Board of Directors of Empower Funds (the "Board") has adopted policies and procedures for the valuation of each Fund's securities and assets, and has appointed the Fair Value Pricing Committee of the Funds' investment adviser, Empower Capital Management, LLC ("ECM"), to complete valuation determinations under those policies and procedures. Pursuant to Rule 2a-5 under the Investment Company Act of 1940, the Board approved ECM as the Funds' valuation designee to make all fair value determinations with respect to the Funds' investments, subject to oversight by the Board.

Each Fund generally values its securities based on market prices determined at the close of regular trading on the New York Stock Exchange ("NYSE") on each day the NYSE is open for trading. The net asset value ("NAV") of each class of a Fund's shares is determined by dividing the net assets attributable to each class of shares of the Fund by the number of issued and outstanding shares of each class of the Fund on each valuation date.

For securities that are traded on only one exchange, the last sale price as of the close of business of that exchange will be used. If the closing price is not available, the current bid as of the close of business will be used. For securities traded on more than one exchange, or upon one or more exchanges and in the over-the-counter ("OTC") market, the last sale price as of the close of business on the market which the security is traded most extensively will be used. If the closing price is not available, the current bid as of the close of business will be used. For securities that principally trade on the NASDAQ National Market System, the NASDAQ official closing price will be used.

For private equity securities that are not traded on an exchange, an appropriate source, which may include the use of an internally developed or approved valuation model, a different external pricing vendor, or sourcing a price from a broker will be used. Valuation of these securities will be reviewed regularly by the Fair Value Pricing Committee.

Short term securities purchased with less than 60 days remaining until maturity and all U.S. Treasury Bills are valued on the basis of amortized cost, which has been determined to approximate fair value. Short term securities purchased with more than 60 days remaining until maturity are valued using pricing services, or in the event a price is not available from a pricing service, may be priced using other methodologies approved by the Board, including model pricing or pricing on the basis of quotations from brokers or dealers, and will continue to be priced until final maturity.

Investments in shares of the underlying mutual funds are valued at the net asset value as reported by the underlying mutual fund, which may be obtained from pricing services or other pricing sources.

Foreign equity securities are generally valued using an adjusted systematic fair value price from an independent pricing service. Foreign exchange rates are determined at a time that corresponds to the closing of the NYSE.

For derivatives that are traded on an exchange, the last sale price as of the close of business of the exchange will be used. For derivatives traded OTC, independent pricing services will be utilized when possible. If a price cannot be located from the primary source, other appropriate sources, which may include the use of an internally developed valuation model, another external pricing vendor or sourcing a price from a broker, may be used.

Independent pricing services are approved by the Board and are utilized for all investment types when available. In some instances valuations from independent pricing services are not available or do not reflect events in the market between the time the market closed and the valuation time and therefore fair valuation procedures are implemented. The fair value for some securities may be obtained from pricing services or other pricing sources. The inputs used by the pricing services are reviewed quarterly or when the pricing vendor issues updates to its pricing methodologies. Broker quotes are analyzed through an internal review process, which includes a review of known market conditions and other relevant data. Developments that might trigger fair value pricing could be natural disasters, government actions or fluctuations in domestic and foreign markets.

The following table provides examples of the inputs that are commonly used for valuing particular classes of securities. These classifications are not exclusive, and any inputs may be used to value any other security class.

------

*March 31, 2026*

------

---

| | |
|:---|:---|
| **<u>Class</u>** | **<u>Inputs</u>** |
| Common Stock | Exchange traded close price, bids, evaluated bids, open and close price of the local exchange, exchange rates, fair values based on significant market movement and various index data |
| Convertible Preferred Stock | Benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, evaluated bids, offers and reference data including market research publications. Inputs also may include exchange prices |
| Government Money Market Mutual Funds | Net asset value of underlying mutual fund |
| Short Term Investments | Maturity date, credit quality and interest rates |
| Futures Contracts | Exchange traded close price |

---

The Funds classify their valuations into three levels based upon the observability of inputs to the valuation of each Fund's investments. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. Classification is based on the lowest level of input significant to the fair value measurement. The three levels are defined as follows:

Level 1 – Unadjusted quoted prices for identical securities in active markets.

Level 2 – Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. These may include quoted prices for similar assets in active markets.

Level 3 – Unobservable inputs to the extent observable inputs are not available and may include prices obtained from single broker quotes. Unobservable inputs reflect a Fund's own assumptions and would be based on the best information available under the circumstances.

As of March 31, 2026, all the investments in the Funds, except the Empower T. Rowe Price Mid Cap Growth Fund, are valued using Level 1 inputs, except for Short Term Investments, which are valued using Level 2 inputs. The inputs used to value the Empower T. Rowe Price Mid Cap Growth Fund investments are detailed in the following table. More information regarding the sector classifications, as applicable, are included in the Schedule of Investments.

#### Empower T. Rowe Price Mid Cap Growth Fund

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total** |
| **Assets** |  |  |  |  |
| **Investments, at fair value:** |  |  |  |  |
| Common Stock | &nbsp;&nbsp;$1848309281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$1848309281 |
| Convertible Preferred Stock | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1612862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1612862 |
| Government Money Market Mutual Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40406271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40406271 |
| Total Assets | &nbsp;&nbsp;$1888715552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$1612862 | &nbsp;&nbsp;$1890328414 |

---

<u>Restricted Securities</u>

A Fund may invest in restricted securities. A restricted security may have contractual restrictions on resale and is valued under methods approved by the Board reflecting fair value. Restricted securities are marked with an applicable footnote on the Schedule of Investments and are reported in a table following the Schedule of Investments. As of March 31, 2026, the Empower T. Rowe Price Mid Cap Growth Fund invested in restricted securities.

<u>Futures Contracts</u>

A Fund may use futures to equitize cash. A futures contract is an agreement between two parties to buy or sell a specified underlying investment for a fixed price at a specified future date. Futures contracts are generally entered into on a regulated futures exchange and cleared through a clearinghouse associated with the exchange. The use of futures contracts may involve risks such as the possibility of illiquid markets or imperfect correlation between the value of the contracts and the underlying securities that comprise the index, or that the clearinghouse will fail to perform its obligations.

------

*March 31, 2026*

------

The following tables represent the average month-end volume of each Fund's derivative transactions, if any, during the reporting period:

---

| | |
|:---|:---|
| Empower Mid Cap Value Fund |  |
| Futures Contracts: |  |
| &nbsp;&nbsp;&nbsp;Average long contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 |
| &nbsp;&nbsp;&nbsp;Average notional long | &nbsp;&nbsp;$11654980 |

---

---

| | |
|:---|:---|
| Empower S&P Mid Cap 400® Index Fund |  |
| Futures Contracts: |  |
| &nbsp;&nbsp;&nbsp;Average long contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 |
| &nbsp;&nbsp;&nbsp;Average notional long | &nbsp;&nbsp;$13216065 |

---

------

*March 31, 2026*

## 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 S&P Mid Cap 400 Index Fund

- **b. EDGAR series identifier (if any):** S000030872

- **c. LEI of Series:** ZVMUZFOB03REUHJNUP64

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $1500282848.07

**Total Liabilities:** $756210.85

**Net Assets:** $1499526637.22

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000095752 | 4.03%                | 4.06%                | -5.44%               |
| Class ID C000095753 | 3.95%                | 4.03%                | -5.43%               |
| Class ID C000155808 | 4.11%                | 4.08%                | -5.44%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2137778.86              | $56713307.30                               |
| Month 2  | $19197157.33             | $44607978.95                               |
| Month 3  | $53346041.62             | $-122497993.70                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Dreyfus Instl Resv                         | Dreyfus Instl Resv PFD GOVT INSTL                  | CUSIP: 26200X100<br>LEI: 549300FG0OZ5YKPLK622 | Long             | STIV             | RF                | US        |  34143502 | PA      | $34143502.11  | 2.28%             | 2026-04-01      | Variable      | 3.56%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                | E-mini S&P MidCap 400 Index Futures,Jun-2026,ETH   | CUSIP: 00002FAM6<br>LEI: SNZ2OJLFK8MNNCLQOF39 | Long             | DE               | CORP              | US        |        41 | NC      | $138460.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| API Group Corp                             | API Group Corp COM STK                             | CUSIP: 00187Y100<br>LEI: 213800NZT1VX6PZ7BT53 | Long             | EC               | CORP              | US        |    178271 | NS      | $7223540.93   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Agree Realty Corp                          | Agree Realty Corp COM                              | CUSIP: 008492100<br>LEI: 98450090H010B37OEB68 | Long             | EC               | CORP              | US        |     55613 | NS      | $4192107.93   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| ATI Inc                                    | ATI Inc COM                                        | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |     63150 | NS      | $9185799.32   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| AppFolio Inc.                              | AppFolio Inc. COM CL A                             | CUSIP: 03783C100<br>LEI: 529900OOUUGT6JFC0S15 | Long             | EC               | CORP              | US        |     11308 | NS      | $1784628.57   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Blackbaud Inc                              | Blackbaud Inc COM                                  | CUSIP: 09227Q100<br>LEI: 54930056X3HKFMNG3754 | Long             | EC               | CORP              | US        |     16609 | NS      | $641273.49    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| CNX Resources Corporation                  | CNX Resources Corporation COM                      | CUSIP: 12653C108<br>LEI: 549300JK3KH8PWM3B226 | Long             | EC               | CORP              | US        |     66578 | NS      | $2566581.90   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Carlyle Group Inc                          | Carlyle Group Inc COM                              | CUSIP: 14316J108<br>LEI: 529900NGGVF94UK6PG95 | Long             | EC               | CORP              | US        |    120365 | NS      | $5824462.27   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Churchill Downs Inc                        | Churchill Downs Inc COM                            | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Long             | EC               | CORP              | US        |     30806 | NS      | $2767303.03   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Cirrus Logic, Inc.                         | Cirrus Logic, Inc. COM                             | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |     23987 | NS      | $3468999.94   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Clean Harbors, Inc.                        | Clean Harbors, Inc. COM                            | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |     23417 | NS      | $6714356.47   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| ESAB Corp.                                 | ESAB Corp. COM                                     | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               | CORP              | US        |     26723 | NS      | $2583045.22   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| FTI Consulting, Inc.                       | FTI Consulting, Inc. COM USD0.01                   | CUSIP: 302941109<br>LEI: 549300K17GM8EQD0FQ48 | Long             | EC               | CORP              | US        |     13991 | NS      | $2473189.08   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| ITT Inc                                    | ITT Inc COM                                        | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |     39937 | NS      | $7609196.64   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Manhattan Associates Inc                   | Manhattan Associates Inc COM USD0.01               | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |     27763 | NS      | $3695810.57   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Viper Energy Inc.                          | Viper Energy Inc. CL A                             | CUSIP: 64361Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     86802 | NS      | $4078825.91   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Option Care Health Inc                     | Option Care Health Inc COM NEW                     | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |     74341 | NS      | $2001259.75   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Park Hotels & Resorts Inc.                 | Park Hotels & Resorts Inc. COM                     | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |     90689 | NS      | $954955.17    | 0.06%             |  |  |  | No            |                  2 | On Loan: —       |
| Ryan Specialty Holdings Inc                | Ryan Specialty Holdings Inc CL A                   | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     52182 | NS      | $1760620.67   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.              | Starwood Property Trust, Inc. COM                  | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               | CORP              | US        |    164155 | NS      | $2826749.09   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Stifel Financial Corporation               | Stifel Financial Corporation COM                   | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |     70728 | NS      | $5228213.77   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Yeti Holdings Inc                          | Yeti Holdings Inc COM                              | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |     35517 | NS      | $1299567.04   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Jazz Pharmaceuticals PLC                   | Jazz Pharmaceuticals PLC COM USD0.0001             | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |     28490 | NS      | $5386034.57   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| TechnipFMC PLC                             | TechnipFMC PLC USD1                                | CUSIP: G87110105<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |    188288 | NS      | $13016349.08  | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Avis Budget Group Inc.                     | Avis Budget Group Inc. COM                         | CUSIP: 053774105<br>LEI: 529900E95812SYWMCE44 | Long             | EC               | CORP              | US        |      7696 | NS      | $1122461.61   | 0.07%             |  |  |  | No            |                  2 | On Loan: —       |
| The Scotts Miracle-Gro Company             | The Scotts Miracle-Gro Company CL A                | CUSIP: 810186106<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | EC               | CORP              | US        |     20644 | NS      | $1255361.64   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Coca-Cola Consolidated Inc                 | Coca-Cola Consolidated Inc COM                     | CUSIP: 191098102<br>LEI: 57VG5X0E00X0QJU7CQ58 | Long             | EC               | CORP              | US        |     26235 | NS      | $5030298.97   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Cognex Corp                                | Cognex Corp COM                                    | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |     76474 | NS      | $3746461.32   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Advanced Drainage System Inc               | Advanced Drainage System Inc COM                   | CUSIP: 00790R104<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | EC               | CORP              | US        |     33561 | NS      | $4602219.97   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Avient Corporation                         | Avient Corporation COM                             | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |     41450 | NS      | $1504635.00   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Belden Inc.                                | Belden Inc. COM                                    | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |     17994 | NS      | $2066251.02   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Celsius Holdings Inc.                      | Celsius Holdings Inc. COM NEW                      | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     73670 | NS      | $2613811.57   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Commerce Bancshares Inc                    | Commerce Bancshares Inc COM                        | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     63573 | NS      | $3127791.64   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Commercial Metals Company                  | Commercial Metals Company COM                      | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |     51480 | NS      | $3162416.45   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Dropbox Inc                                | Dropbox Inc CL A                                   | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |     80617 | NS      | $1831618.26   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Equity Lifestyle Properties Inc            | Equity Lifestyle Properties Inc COM                | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     90466 | NS      | $5646887.57   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Exelixis, Inc.                             | Exelixis, Inc. COM                                 | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |    120940 | NS      | $5187116.57   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Floor And Decor Holding Inc.               | Floor And Decor Holding Inc. CL A                  | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |     50430 | NS      | $2561843.91   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Primerica, Inc.                            | Primerica, Inc. COM                                | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |     14882 | NS      | $3727643.38   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Essent Group Ltd.                          | Essent Group Ltd. COM USD0.015                     | CUSIP: G3198U102<br>LEI: 254900QUO860OUT6ZF83 | Long             | EC               | CORP              | BM        |     44589 | NS      | $2605781.21   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Selective Insurance Group Inc.             | Selective Insurance Group Inc. COM                 | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |     27687 | NS      | $2087322.99   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Alcoa Corporation                          | Alcoa Corporation COM                              | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |    120241 | NS      | $7975585.51   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| BWX Technologies Inc.                      | BWX Technologies Inc. COM                          | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |     42483 | NS      | $8687348.63   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank OZK                                   | Bank OZK COM                                       | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Long             | EC               | CORP              | US        |     48132 | NS      | $2208777.50   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Burlington Stores Inc.                     | Burlington Stores Inc. COM                         | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |     28929 | NS      | $9412918.00   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Acuity Inc.                                | Acuity Inc. COM STK USD0.01                        | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14223 | NS      | $3985569.05   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Antero Midstream Corporation               | Antero Midstream Corporation COM                   | CUSIP: 03676B102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    152822 | NS      | $3484341.63   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Chewy Inc                                  | Chewy Inc CL A                                     | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Long             | EC               | CORP              | US        |    110557 | NS      | $2985039.00   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| COPT Defense Properties                    | COPT Defense Properties COM USD0.01                | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |     53688 | NS      | $1642852.80   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Crocs Inc                                  | Crocs Inc COM                                      | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |     24111 | NS      | $2001695.20   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Donaldson Co Inc                           | Donaldson Co Inc COM                               | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |     53459 | NS      | $4537065.29   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Doximity Inc                               | Doximity Inc CL A                                  | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     62976 | NS      | $1467340.81   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| EPR Properties                             | EPR Properties COM SH BEN INT                      | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     36057 | NS      | $1801407.71   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Eastgroup Properties, Inc.                 | Eastgroup Properties, Inc. COM                     | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |     24638 | NS      | $4560247.46   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| EnerSys                                    | EnerSys COM USD0.01                                | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |     17113 | NS      | $2972870.35   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Gamestop Corp                              | Gamestop Corp CL A                                 | CUSIP: 36467W109<br>LEI: 549300505KLOET039L77 | Long             | EC               | CORP              | US        |    191396 | NS      | $4409763.90   | 0.29%             |  |  |  | No            |                  2 | On Loan: —       |
| Glacier Bancorp Inc.                       | Glacier Bancorp Inc. COM USD0.01                   | CUSIP: 37637Q105<br>LEI: 549300SMJAUKZB5D7V74 | Long             | EC               | CORP              | US        |     59992 | NS      | $2679842.65   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| BellRing Intermediate Holdings Inc.        | BellRing Intermediate Holdings Inc. COMMON STOCK   | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |     57856 | NS      | $930903.06    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| CNO Financial Group, Inc.                  | CNO Financial Group, Inc. COM                      | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |     44606 | NS      | $1831522.36   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Carlisle Companies Inc.                    | Carlisle Companies Inc. COM                        | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |     19009 | NS      | $6341782.59   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Carpenter Technology Corporation           | Carpenter Technology Corporation COM               | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |     23160 | NS      | $9128514.06   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Casey'S General Stores Inc.                | Casey'S General Stores Inc. COM                    | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |     17238 | NS      | $12546850.64  | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Chemed Corporation                         | Chemed Corporation CAP USD1                        | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |      6630 | NS      | $2504416.18   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Corebridge Financial Inc.                  | Corebridge Financial Inc. COM                      | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |    119371 | NS      | $2848192.00   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Coty Inc.                                  | Coty Inc. COM CL A                                 | CUSIP: 222070203<br>LEI: 549300BO9IWPF3S48F93 | Long             | EC               | CORP              | US        |    182128 | NS      | $366077.28    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Cousins Properties Inc.                    | Cousins Properties Inc. COM NEW                    | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |     79748 | NS      | $1799912.37   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Crane NXT Co                               | Crane NXT Co COM                                   | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               | CORP              | US        |     23633 | NS      | $959263.48    | 0.06%             |  |  |  | No            |                  2 | On Loan: —       |
| CubeSmart (Maryland)                       | CubeSmart (Maryland) COM                           | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    106350 | NS      | $3897727.57   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Dolby Laboratories Inc.                    | Dolby Laboratories Inc. COM CL A                   | CUSIP: 25659T107<br>LEI: 549300X04FB2QPCJ5J24 | Long             | EC               | CORP              | US        |     27975 | NS      | $1680178.52   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Essential Utilities Inc                    | Essential Utilities Inc COM                        | CUSIP: 29670G102<br>LEI: 549300ILTEOF3E3QY357 | Long             | EC               | CORP              | US        |    132107 | NS      | $5319948.89   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| MP Materials Corp                          | MP Materials Corp COM CL A                         | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |     62458 | NS      | $3014223.00   | 0.20%             |  |  |  | No            |                  2 | On Loan: —       |
| Mastec, Inc.                               | Mastec, Inc. COM                                   | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |     28523 | NS      | $9176990.01   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Matador Resources Company                  | Matador Resources Company COM                      | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     54360 | NS      | $3434464.85   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Eagle Materials Inc.                       | Eagle Materials Inc. COM                           | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |     14709 | NS      | $2786620.04   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Entegris Inc                               | Entegris Inc COM USD0.01                           | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |     70756 | NS      | $8295433.66   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Exponent Inc                               | Exponent Inc COM USD0.001                          | CUSIP: 30214U102<br>LEI: 529900NY3F5Q2NWPUZ42 | Long             | EC               | CORP              | US        |     23121 | NS      | $1508645.25   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Firstcash Holdings Inc                     | Firstcash Holdings Inc COM                         | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17981 | NS      | $3380428.00   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| AeroVironment, Inc.                        | AeroVironment, Inc. COM                            | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |     14703 | NS      | $2691384.25   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Ally Financial Inc.                        | Ally Financial Inc. COM                            | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |    131322 | NS      | $5151762.14   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Houlihan Lokey Inc.                        | Houlihan Lokey Inc. CL A                           | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |     25242 | NS      | $3625255.98   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Lamar Advertising Company                  | Lamar Advertising Company CL A                     | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     40529 | NS      | $5133403.22   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Lincoln Electric Holdings Inc.             | Lincoln Electric Holdings Inc. COM                 | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |     25678 | NS      | $6395876.19   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Lithia Motors Incorporated                 | Lithia Motors Incorporated COM                     | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |     11220 | NS      | $2801858.45   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Mattel, Inc.                               | Mattel, Inc. COM                                   | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |    142322 | NS      | $2067938.71   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Medpace Holdings Inc.                      | Medpace Holdings Inc. COM                          | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |     10412 | NS      | $4999738.26   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Nextpower Inc.                             | Nextpower Inc. CLASS A COM                         | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     68967 | NS      | $8313971.59   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Owens Corning                              | Owens Corning COM                                  | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |     38377 | NS      | $4153158.94   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| PBF Energy Inc                             | PBF Energy Inc CL A                                | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Long             | EC               | CORP              | US        |     39253 | NS      | $1869227.83   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Pegasystems Inc                            | Pegasystems Inc COM                                | CUSIP: 705573103<br>LEI: 549300FMCOKPL06FYN26 | Long             | EC               | CORP              | US        |     42721 | NS      | $1818205.76   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Avantor Inc                                | Avantor Inc COM                                    | CUSIP: 05352A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    320293 | NS      | $2511097.18   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Bentley Systems Incorporated               | Bentley Systems Incorporated COM CL B              | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |     68781 | NS      | $2415588.75   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Caretrust Reit Inc                         | Caretrust Reit Inc COM                             | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |    103439 | NS      | $3791039.25   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Crane Co.                                  | Crane Co. COMMON STOCK                             | CUSIP: 224408104<br>LEI: 5493000CQRQOTHUODL75 | Long             | EC               | CORP              | US        |     22695 | NS      | $3880845.00   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Encompass Health Corporation               | Encompass Health Corporation COM                   | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     46768 | NS      | $4523868.58   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Euronet Worldwide, Inc.                    | Euronet Worldwide, Inc. COM USD0.02                | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     18519 | NS      | $1229106.04   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Graphic Packaging Holding Company          | Graphic Packaging Holding Company COM              | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    137470 | NS      | $1366451.80   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Lantheus Holdings Inc                      | Lantheus Holdings Inc COM                          | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |     31006 | NS      | $2351805.12   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Silgan Holdings Inc.                       | Silgan Holdings Inc. COM USD0.01                   | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |     41064 | NS      | $1593283.22   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| STAG Industrial, Inc.                      | STAG Industrial, Inc. COM                          | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |     88483 | NS      | $3190696.98   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Valmont Industries, Inc.                   | Valmont Industries, Inc. COM                       | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |      9144 | NS      | $3653668.02   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Performance Food Group Co.                 | Performance Food Group Co. COM                     | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |     72949 | NS      | $6248811.23   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Polaris Inc.                               | Polaris Inc. COM                                   | CUSIP: 731068102<br>LEI: 549300QJSN8UVWN1EI78 | Long             | EC               | CORP              | US        |     25159 | NS      | $1371165.50   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Vicor Corp                                 | Vicor Corp COM                                     | CUSIP: 925815102<br>LEI: 5299005KMQOTR6B51F09 | Long             | EC               | CORP              | US        |     10519 | NS      | $1693559.00   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Vornado Realty Trust                       | Vornado Realty Trust SH BEN INT                    | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     75793 | NS      | $1969860.11   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Watsco Inc                                 | Watsco Inc COM                                     | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               | CORP              | US        |     16220 | NS      | $5900673.83   | 0.39%             |  |  |  | No            |                  2 | On Loan: —       |
| Watts Water Technologies Inc.              | Watts Water Technologies Inc. CL A                 | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |     12748 | NS      | $3700616.94   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| GATX Corporation                           | GATX Corporation COM                               | CUSIP: 361448103<br>LEI: 549300IHYHCQP2PIR591 | Long             | EC               | CORP              | US        |     16717 | NS      | $2854260.61   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| The Gap Inc.                               | The Gap Inc. COM                                   | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |    105378 | NS      | $2550147.60   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| RLI Corp                                   | RLI Corp COM                                       | CUSIP: 749607107<br>LEI: 529900AMTJE5ECN9PS55 | Long             | EC               | CORP              | US        |     42442 | NS      | $2420891.73   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| RPM International Inc.                     | RPM International Inc. COM                         | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |     59568 | NS      | $5921059.19   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Gentex Corp                                | Gentex Corp COM                                    | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |    102413 | NS      | $2237724.08   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. The             | Goodyear Tire & Rubber Co. The COM                 | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |    127757 | NS      | $847028.91    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Range Resources Corp.                      | Range Resources Corp. COM                          | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |    110525 | NS      | $4993519.54   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Rayonier Inc                               | Rayonier Inc COM                                   | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |    129633 | NS      | $2673032.45   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| American Financial Group, Inc.             | American Financial Group, Inc. COM                 | CUSIP: 025932104<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EC               | CORP              | US        |     31969 | NS      | $4082760.95   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| American Homes 4 Rent                      | American Homes 4 Rent COM USD0.01 'A'              | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |    151346 | NS      | $4225580.23   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Graco Inc                                  | Graco Inc COM                                      | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |     77000 | NS      | $6518050.12   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Grand Canyon Education Inc                 | Grand Canyon Education Inc COM USD0.01             | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |     12743 | NS      | $2166692.33   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Amkor Technology, Inc.                     | Amkor Technology, Inc. COM                         | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |     52797 | NS      | $2377448.93   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Applied Industrial Technologies Inc.       | Applied Industrial Technologies Inc. COM           | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |     17350 | NS      | $4603301.89   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Greif, Inc.                                | Greif, Inc. CL A                                   | CUSIP: 397624107<br>LEI: 54930070FVGKR0Z1FI24 | Long             | EC               | CORP              | US        |     11512 | NS      | $772109.84    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| American Healthcare REIT Inc.              | American Healthcare REIT Inc. COM SHS              | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               | CORP              | US        |     81855 | NS      | $3860281.75   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Haemonetics Corp                           | Haemonetics Corp COM                               | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |     21509 | NS      | $1212247.22   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Hancock Whitney Corporation                | Hancock Whitney Corporation COM                    | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |     39016 | NS      | $2481027.43   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Aptargroup Inc.                            | Aptargroup Inc. COM                                | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |     30146 | NS      | $3798998.91   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Aramark                                    | Aramark COM                                        | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |    121958 | NS      | $4944177.19   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Harley-Davidson, Inc.                      | Harley-Davidson, Inc. COM                          | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Long             | EC               | CORP              | US        |     56256 | NS      | $1137496.32   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Hecla Mining Company                       | Hecla Mining Company COM                           | CUSIP: 422704106<br>LEI: 5493009Y6HOBZD1QD537 | Long             | EC               | CORP              | US        |    312576 | NS      | $5823291.04   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Bath & Body Works Inc                      | Bath & Body Works Inc COM                          | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |     96063 | NS      | $1793496.26   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Biomarin Pharmaceutical Inc.               | Biomarin Pharmaceutical Inc. COM USD0.001          | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |     89408 | NS      | $5050657.93   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Hexcel Corporation                         | Hexcel Corporation COM                             | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |     35361 | NS      | $2861765.78   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Home BancShares Inc.                       | Home BancShares Inc. COM                           | CUSIP: 436893200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     86532 | NS      | $2330306.73   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Brixmor Property Group Inc                 | Brixmor Property Group Inc COM                     | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |    142312 | NS      | $4098585.63   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Chart Industries Inc                       | Chart Industries Inc COM                           | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |     20833 | NS      | $4307222.75   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Kinsale Capital Group Inc                  | Kinsale Capital Group Inc COM                      | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |     10345 | NS      | $3534472.78   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Kite Realty Group Trust                    | Kite Realty Group Trust COM NEW                    | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100139 | NS      | $2458412.42   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Morningstar Inc                            | Morningstar Inc COM                                | CUSIP: 617700109<br>LEI: 529900YGNQPOVAXQ7F29 | Long             | EC               | CORP              | US        |     10818 | NS      | $1828782.93   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| NOV Inc.                                   | NOV Inc. COM                                       | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |    165888 | NS      | $3120353.33   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Choice Hotels International, Inc.          | Choice Hotels International, Inc. COM              | CUSIP: 169905106<br>LEI: 5493003CYRY5RFGTIR97 | Long             | EC               | CORP              | US        |      9866 | NS      | $1021131.00   | 0.07%             |  |  |  | No            |                  2 | On Loan: —       |
| Commvault Systems Inc.                     | Commvault Systems Inc. COM                         | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |     20102 | NS      | $1565744.78   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Science Applications International Corp.   | Science Applications International Corp. USD0.0001 | CUSIP: 808625107<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | EC               | CORP              | US        |     21488 | NS      | $2039640.94   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Silicon Laboratories, Inc.                 | Silicon Laboratories, Inc. COM USD0.0001           | CUSIP: 826919102<br>LEI: 4PRDF8Q9TDHRVZKZSZ47 | Long             | EC               | CORP              | US        |     15300 | NS      | $3184695.04   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Concentrix Corp.                           | Concentrix Corp. COM                               | CUSIP: 20602D101<br>LEI: 5493000EAJN1KMPVA737 | Long             | EC               | CORP              | US        |     19890 | NS      | $544190.40    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Crown Holdings Inc                         | Crown Holdings Inc COM                             | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     52274 | NS      | $5240468.50   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Murphy USA Inc.                            | Murphy USA Inc. COM                                | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |      7869 | NS      | $3887049.91   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| ONE Gas, Inc.                              | ONE Gas, Inc. COM                                  | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |     27945 | NS      | $2406902.84   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Cullen/Frost Bankers, Inc.                 | Cullen/Frost Bankers, Inc. COM                     | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |     29288 | NS      | $4014799.02   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Curtiss-Wright Corp.                       | Curtiss-Wright Corp. COM                           | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |     17145 | NS      | $11677802.63  | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corporation               | Tenet Healthcare Corporation COM NEW               | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |     40827 | NS      | $7704463.18   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| UL Solutions Inc.                          | UL Solutions Inc. CLASS A COM SHS                  | CUSIP: 903731107<br>LEI: 549300F7CUV5ESKV9P71 | Long             | EC               | CORP              | US        |     35825 | NS      | $3070560.80   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Docusign Inc                               | Docusign Inc COM                                   | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | EC               | CORP              | US        |     93791 | NS      | $4446631.22   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| E L F Beauty Inc                           | E L F Beauty Inc COM                               | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               | CORP              | US        |     27330 | NS      | $1656471.29   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Warner Music Group Corporation             | Warner Music Group Corporation COM CL A            | CUSIP: 934550203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     68706 | NS      | $1754751.30   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Wingstop Inc                               | Wingstop Inc COM                                   | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |     13116 | NS      | $2032586.55   | 0.14%             |  |  |  | No            |                  2 | On Loan: —       |
| Onto Innovation Inc.                       | Onto Innovation Inc. COM                           | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |     23076 | NS      | $4732195.23   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Paylocity Holding Corporation              | Paylocity Holding Corporation COM                  | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |     20580 | NS      | $2223463.20   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| East West Bancorp Inc                      | East West Bancorp Inc COM USD0.001                 | CUSIP: 27579R104<br>LEI: 254900O4X656YXFOYB11 | Long             | EC               | CORP              | US        |     63926 | NS      | $6824739.82   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Evercore Inc.                              | Evercore Inc. CLASS A                              | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |     18072 | NS      | $5394672.82   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Allegro MicroSystems Inc                   | Allegro MicroSystems Inc COM                       | CUSIP: 01749D105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     58920 | NS      | $1857747.57   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Annaly Capital Management, Inc.            | Annaly Capital Management, Inc. COM NEW            | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |    333817 | NS      | $7060229.64   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Woodward Inc.                              | Woodward Inc. COM USD0.00875                       | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |     27703 | NS      | $9915457.82   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| LivaNova PLC                               | LivaNova PLC ORD GBP1.00 (DI)                      | CUSIP: G5509L101<br>LEI: 2138001K2FX6SHK2B339 | Long             | EC               | CORP              | GB        |     25350 | NS      | $1611246.00   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Jones Lang LaSalle Incorporated            | Jones Lang LaSalle Incorporated COM                | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |     21919 | NS      | $6670390.07   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Service Corporation International          | Service Corporation International COM              | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |     64495 | NS      | $5321482.57   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Simpson Manufacturing Co Inc.              | Simpson Manufacturing Co Inc. COM                  | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |     19494 | NS      | $3345560.30   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Regal Rexnord Corporation                  | Regal Rexnord Corporation COM                      | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |     30814 | NS      | $5770229.72   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Reliance Inc                               | Reliance Inc COM                                   | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |     24332 | NS      | $7394981.44   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Repligen Corporation                       | Repligen Corporation COM                           | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |     24414 | NS      | $2876457.45   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Royal Gold, Inc.                           | Royal Gold, Inc. COM                               | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |     37643 | NS      | $9579766.95   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Webster Financial Corp.                    | Webster Financial Corp. COM                        | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |     74793 | NS      | $5192130.05   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Whirlpool Corp.                            | Whirlpool Corp. COM                                | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |     28937 | NS      | $1560283.09   | 0.10%             |  |  |  | No            |                  2 | On Loan: —       |
| Zions Bancorporation Natl Assn Global Bank | Zions Bancorporation Natl Assn Global Bank COM     | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |     68610 | NS      | $3953308.28   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Flex Ltd.                                  | Flex Ltd. ORD                                      | CUSIP: Y2573F102<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | SG        |    171201 | NS      | $11206817.18  | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Ryder System, Inc.                         | Ryder System, Inc. COM                             | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |     18308 | NS      | $3747830.81   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| SEI Investments Co                         | SEI Investments Co COM                             | CUSIP: 784117103<br>LEI: 5LJTIFADGZ6XH1RVOC11 | Long             | EC               | CORP              | US        |     43101 | NS      | $3382135.47   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| StandardAero Inc.                          | StandardAero Inc. COM                              | CUSIP: 85423L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     88704 | NS      | $2291224.25   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Trex Company, Inc.                         | Trex Company, Inc. COM USD0.01                     | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50888 | NS      | $1853340.97   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| SPX Technologies, Inc.                     | SPX Technologies, Inc. COM                         | CUSIP: 78473E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23338 | NS      | $4666199.80   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Somnigroup International Inc.              | Somnigroup International Inc. COM                  | CUSIP: 88023U101<br>LEI: 549300HFEKVR3US71V91 | Long             | EC               | CORP              | US        |     97504 | NS      | $7207495.73   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| W. P. Carey Inc                            | W. P. Carey Inc COM                                | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |    101713 | NS      | $6912415.32   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| WEX Inc                                    | WEX Inc COM                                        | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |     16095 | NS      | $2463178.78   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| UiPath Inc.                                | UiPath Inc. CL A                                   | CUSIP: 90364P105<br>LEI: 5493000YP61KBELDHT53 | Long             | EC               | CORP              | US        |    201379 | NS      | $2235306.95   | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| United States Treasury Bills               | B 0 06/04/26                                       | CUSIP: 912797SX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9566400 | NS      | $9505052.25   | 0.63%             | 2026-06-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Unum Group                                 | Unum Group COM                                     | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     70715 | NS      | $5164316.39   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| V.F. Corp                                  | V.F. Corp COM                                      | CUSIP: 918204108<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | EC               | CORP              | US        |    150855 | NS      | $2563026.50   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Antero Resources Corporation               | Antero Resources Corporation COM                   | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |    136594 | NS      | $5797049.42   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Brighthouse Financial Inc.                 | Brighthouse Financial Inc. COM                     | CUSIP: 10922N103<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EC               | CORP              | US        |     26154 | NS      | $1566101.51   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Federated Hermes Inc                       | Federated Hermes Inc CL B                          | CUSIP: 314211103<br>LEI: R05X5UQ874RGFF7HHD84 | Long             | EC               | CORP              | US        |     34376 | NS      | $1949462.99   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Fidelity National Financial, Inc.          | Fidelity National Financial, Inc. COM SHS          | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |    118339 | NS      | $5488562.88   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| GXO Logistics Inc.                         | GXO Logistics Inc. COMMON STOCK                    | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Long             | EC               | CORP              | US        |     53588 | NS      | $2778537.80   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Gaming and Leisure Properties Inc          | Gaming and Leisure Properties Inc COM              | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |    132293 | NS      | $5869840.37   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Globus Med Inc                             | Globus Med Inc CL A                                | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |     51456 | NS      | $4433448.99   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Hamilton Lane Inc                          | Hamilton Lane Inc CL A                             | CUSIP: 407497106<br>LEI: 5493006OKN3V1NORM833 | Long             | EC               | CORP              | US        |     19341 | NS      | $1922495.43   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Healthequity Inc                           | Healthequity Inc COM                               | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |     39466 | NS      | $3298173.60   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| IPG Photonics Corp                         | IPG Photonics Corp COM                             | CUSIP: 44980X109<br>LEI: 5493002KZ51CADQ94G15 | Long             | EC               | CORP              | US        |     11598 | NS      | $1329014.85   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| InterDigital, Inc.                         | InterDigital, Inc. COM                             | CUSIP: 45867G101<br>LEI: 529900HQAUTC3VI47G64 | Long             | EC               | CORP              | US        |     12053 | NS      | $3640006.00   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Knight-Swift Transportation Holdings Inc.  | Knight-Swift Transportation Holdings Inc. CL A     | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     75230 | NS      | $4331743.31   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Maplebear Inc.                             | Maplebear Inc. COM                                 | CUSIP: 565394103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     84795 | NS      | $3176420.78   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Maximus Inc                                | Maximus Inc COM                                    | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |     25671 | NS      | $1645511.07   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Middleby Corp.                             | Middleby Corp. COM                                 | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |     21544 | NS      | $2856303.55   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Nexstar Media Group Inc                    | Nexstar Media Group Inc COMMON STOCK               | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |     13247 | NS      | $2395455.01   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| NorthWestern Energy Group Inc              | NorthWestern Energy Group Inc COM NEW              | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |     29084 | NS      | $1917798.96   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Chord Energy Corp.                         | Chord Energy Corp. COM NEW                         | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |     26311 | NS      | $3740898.00   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Sonoco Products Company                    | Sonoco Products Company COM                        | CUSIP: 835495102<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | EC               | CORP              | US        |     46379 | NS      | $2508640.11   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Aaon Inc                                   | Aaon Inc COM PAR $0.004                            | CUSIP: 000360206<br>LEI: 549300ZHF0E5VM7PUD37 | Long             | EC               | CORP              | US        |     31702 | NS      | $2623340.50   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Agco Corporation                           | Agco Corporation COM                               | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |     28201 | NS      | $3267649.89   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Abercrombie & Fitch Co                     | Abercrombie & Fitch Co CL A                        | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |     21703 | NS      | $1983003.15   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| AECOM                                      | AECOM COM STK USD0.01                              | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |     60442 | NS      | $5126690.41   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Advanced Energy Industries, Inc.           | Advanced Energy Industries, Inc. COM               | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |     17681 | NS      | $5705835.50   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Affiliated Managers Group, Inc.            | Affiliated Managers Group, Inc. COM                | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |     13220 | NS      | $3657974.09   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Alaska Air Group Inc.                      | Alaska Air Group Inc. COM                          | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |     53227 | NS      | $1957689.00   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Cytokinetics Inc                           | Cytokinetics Inc COM NEW                           | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |     56789 | NS      | $3742962.96   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Dycom Industries, Inc.                     | Dycom Industries, Inc. COM                         | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |     13911 | NS      | $4713324.95   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Flowers Foods, Inc.                        | Flowers Foods, Inc. COM                            | CUSIP: 343498101<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | EC               | CORP              | US        |     97789 | NS      | $796980.36    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| The Hanover Insurance Group, Inc.          | The Hanover Insurance Group, Inc. COM              | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |     16362 | NS      | $2836352.69   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Inc                 | Hilton Grand Vacations Inc COM                     | CUSIP: 43283X105<br>LEI: 549300O9K6MFD8D07574 | Long             | EC               | CORP              | US        |     28518 | NS      | $1115624.13   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Reinsurance Group of America, Incorporated | Reinsurance Group of America, Incorporated COM NEW | CUSIP: 759351604<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EC               | CORP              | US        |     30660 | NS      | $6259545.65   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Western Alliance Bancorp                   | Western Alliance Bancorp COM                       | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |     47643 | NS      | $3375506.50   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Janus Henderson Group PLC                  | Janus Henderson Group PLC ORD USD1.50              | CUSIP: G4474Y214<br>LEI: 2138009WPYMWJN3RVF44 | Long             | EC               | CORP              | JE        |     57423 | NS      | $2949819.57   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Roivant Sciences Ltd                       | Roivant Sciences Ltd SHS                           | CUSIP: G76279101<br>LEI: 549300DL466NY5J6U724 | Long             | EC               | CORP              | BM        |    209225 | NS      | $5795532.34   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Vail Resorts, Inc.                         | Vail Resorts, Inc. COM                             | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |     16812 | NS      | $2157315.80   | 0.14%             |  |  |  | No            |                  2 | On Loan: —       |
| Valley National Bancorp.                   | Valley National Bancorp. COM                       | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |    223321 | NS      | $2742381.90   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Westlake Corporation                       | Westlake Corporation COM                           | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | EC               | CORP              | US        |     15622 | NS      | $1824962.06   | 0.12%             |  |  |  | No            |                  2 | On Loan: —       |
| Wintrust Financial Corporation             | Wintrust Financial Corporation COM NPV             | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     31053 | NS      | $4314503.79   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Brinks Company                             | Brinks Company COM                                 | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |     19134 | NS      | $1982856.45   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Bruker Corporation                         | Bruker Corporation COM USD0.01                     | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |     52624 | NS      | $1900778.84   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Planet Fitness Inc.                        | Planet Fitness Inc. CL A                           | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |     38200 | NS      | $2841315.97   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| American Airlines Group Inc                | American Airlines Group Inc COM                    | CUSIP: 02376R102<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | EC               | CORP              | US        |    307397 | NS      | $3301443.81   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Ollies Bargain Outlet Holdings Inc.        | Ollies Bargain Outlet Holdings Inc. COM            | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |     28710 | NS      | $2642468.40   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Omega Healthcare Investors, Inc.           | Omega Healthcare Investors, Inc. COM               | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |    137178 | NS      | $6011139.93   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Taylor Morrison Home Corp                  | Taylor Morrison Home Corp COM                      | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     45369 | NS      | $2642290.59   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Genpact Ltd.                               | Genpact Ltd. COM STK USD0.01                       | CUSIP: G3922B107<br>LEI: 529900OSEC6Q0L4L5B35 | Long             | EC               | CORP              | BM        |     73294 | NS      | $2730201.50   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs Inc                       | Cleveland-Cliffs Inc COM                           | CUSIP: 185899101<br>LEI: 549300TM2WLI2BJMDD86 | Long             | EC               | CORP              | US        |    262843 | NS      | $2221023.32   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Core & Main Inc                            | Core & Main Inc CL A                               | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     88286 | NS      | $4361328.37   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Axalta Coating Systems Limited             | Axalta Coating Systems Limited COM USD1.00         | CUSIP: G0750C108<br>LEI: 529900AGLPA40GV6H619 | Long             | EC               | CORP              | BM        |     99465 | NS      | $2755180.51   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Capri Holdings Ltd.                        | Capri Holdings Ltd. SHS                            | CUSIP: G1890L107<br>LEI: 549300LPG8W0H1OX3A26 | Long             | EC               | CORP              | VG        |     54454 | NS      | $959479.47    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Fabrinet                                   | Fabrinet COM USD0.01                               | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |     16666 | NS      | $8691652.24   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Arrowhead Pharmaceuticals Inc              | Arrowhead Pharmaceuticals Inc COM                  | CUSIP: 04280A100<br>LEI: 549300O3CSB8T7OZ3D66 | Long             | EC               | CORP              | US        |     64965 | NS      | $4073305.50   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| AutoNation, Inc.                           | AutoNation, Inc. COM                               | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12183 | NS      | $2378852.54   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Oshkosh Corporation                        | Oshkosh Corporation COM                            | CUSIP: 688239201<br>LEI: 549300FEKNPCFSA2B506 | Long             | EC               | CORP              | US        |     29326 | NS      | $4317080.42   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Penske Automotive Group, Inc.              | Penske Automotive Group, Inc. COM                  | CUSIP: 70959W103<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | EC               | CORP              | US        |      8440 | NS      | $1261948.78   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Duolingo Inc                               | Duolingo Inc CL A COM                              | CUSIP: 26603R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18978 | NS      | $1870661.44   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Dutch Bros Inc                             | Dutch Bros Inc CL A                                | CUSIP: 26701L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     58716 | NS      | $2974552.50   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Dynatrace Inc                              | Dynatrace Inc COM NEW                              | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |    139104 | NS      | $5144065.77   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| ExlService Holdings Inc.                   | ExlService Holdings Inc. COM                       | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |     74087 | NS      | $2255949.15   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Five Below Inc                             | Five Below Inc COM                                 | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |     25613 | NS      | $5852058.24   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| HF Sinclair Corp.                          | HF Sinclair Corp. COM                              | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |     72774 | NS      | $4540369.83   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Hims & Hers Health Inc                     | Hims & Hers Health Inc COM CL A                    | CUSIP: 433000106<br>LEI: 254900V041EIVTSB6D58 | Long             | EC               | CORP              | US        |     98467 | NS      | $2044174.97   | 0.14%             |  |  |  | No            |                  2 | On Loan: —       |
| Ingredion Incorporated                     | Ingredion Incorporated COM                         | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     29298 | NS      | $3300712.71   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| KBR Inc                                    | KBR Inc COM                                        | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |     59104 | NS      | $2178573.47   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| KB Home                                    | KB Home COM STK USD1                               | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Long             | EC               | CORP              | US        |     29773 | NS      | $1540752.75   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Kyndryl Holdings Inc                       | Kyndryl Holdings Inc COMMON STOCK                  | CUSIP: 50155Q100<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | EC               | CORP              | US        |    106008 | NS      | $1390824.96   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| MKS Inc.                                   | MKS Inc. COM NPV                                   | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     31231 | NS      | $7177196.19   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Moog Inc.                                  | Moog Inc. CL A                                     | CUSIP: 615394202<br>LEI: 549300WM2I4U7OBAHG07 | Long             | EC               | CORP              | US        |     13174 | NS      | $3855239.25   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Mueller Industries Inc.                    | Mueller Industries Inc. COM                        | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     51977 | NS      | $5759051.60   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| BJ Wholesale Club Holdings Inc             | BJ Wholesale Club Holdings Inc COM                 | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |     61188 | NS      | $6022122.91   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| BILL Holdings Inc                          | BILL Holdings Inc COM                              | CUSIP: 090043100<br>LEI: 549300IBF9VZZIGOZW63 | Long             | EC               | CORP              | US        |     40593 | NS      | $1554711.88   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Pinterest Inc                              | Pinterest Inc COM USD0.00001 CL A                  | CUSIP: 72352L106<br>LEI: 529900Y043CEBGO4HB65 | Long             | EC               | CORP              | US        |    272806 | NS      | $5003262.00   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Everpure Inc.                              | Everpure Inc. CL A                                 | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |    145924 | NS      | $8615353.15   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| RBC Bearings Inc                           | RBC Bearings Inc COM                               | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14690 | NS      | $7978433.01   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Sitime Corporation                         | Sitime Corporation COM                             | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10380 | NS      | $3584733.00   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Sotera Health Company                      | Sotera Health Company COM                          | CUSIP: 83601L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    107053 | NS      | $1535140.04   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Spire Inc                                  | Spire Inc COM                                      | CUSIP: 84857L101<br>LEI: 549300NXSY15DRY2R511 | Long             | EC               | CORP              | US        |     27705 | NS      | $2508410.71   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Synaptics Incorporated                     | Synaptics Incorporated COM USD0.001                | CUSIP: 87157D109<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | EC               | CORP              | US        |     18186 | NS      | $1273747.47   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| TD Synnex Corp                             | TD Synnex Corp COM                                 | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |     34723 | NS      | $5858117.23   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Talen Energy Corporation                   | Talen Energy Corporation COM                       | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21233 | NS      | $6778210.67   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Terex Corporation                          | Terex Corporation COM                              | CUSIP: 880779103<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | EC               | CORP              | US        |     53458 | NS      | $3159367.75   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Tetra Tech Inc                             | Tetra Tech Inc COM                                 | CUSIP: 88162G103<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | EC               | CORP              | US        |    122470 | NS      | $3688796.37   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Texas Capital Bancshares, Inc.             | Texas Capital Bancshares, Inc. COM                 | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |     20912 | NS      | $1984130.59   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Thor Industries Inc.                       | Thor Industries Inc. COM                           | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |     24238 | NS      | $1936373.83   | 0.13%             |  |  |  | No            |                  2 | On Loan: —       |
| The Timken Company                         | The Timken Company COM                             | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |     29773 | NS      | $2994270.62   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Toll Brothers, Inc.                        | Toll Brothers, Inc. COM                            | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |     44456 | NS      | $6066910.24   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| The Toro Company                           | The Toro Company COM                               | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |     45162 | NS      | $4219937.16   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| UGI Corp                                   | UGI Corp COM                                       | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     99732 | NS      | $3632239.46   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| UMB Financial Corp.                        | UMB Financial Corp. COM                            | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |     33197 | NS      | $3744289.63   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| United Bankshares Inc                      | United Bankshares Inc COM                          | CUSIP: 909907107<br>LEI: 5299005O3BAMJ9Z92V62 | Long             | EC               | CORP              | US        |     64564 | NS      | $2674240.90   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Vontier Corporation                        | Vontier Corporation COM                            | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |     67379 | NS      | $2389933.08   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Wesco International, Inc.                  | Wesco International, Inc. COM USD0.01              | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |     22680 | NS      | $6205701.44   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Weatherford International Plc              | Weatherford International Plc COM USD0.001         | CUSIP: G48833118<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |     33054 | NS      | $3126247.25   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| NVent Electric PLC                         | NVent Electric PLC COM USD0.01                     | CUSIP: G6700G107<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |     75017 | NS      | $8873010.67   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Valaris Ltd.                               | Valaris Ltd. CL A                                  | CUSIP: G9460G101<br>LEI: 5299008BQ9IREYWBTS30 | Long             | EC               | CORP              | BM        |     29787 | NS      | $2920317.47   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Murphy Oil Corporation                     | Murphy Oil Corporation COM                         | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |     63084 | NS      | $2602215.00   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| National Fuel Gas Company                  | National Fuel Gas Company COM                      | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     44103 | NS      | $4143917.90   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Booz Allen Hamilton Holding Corp.          | Booz Allen Hamilton Holding Corp. CL A             | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |     55901 | NS      | $4361955.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corporation                      | Brunswick Corporation COM                          | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |     29923 | NS      | $2177197.51   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Cabot Corporation                          | Cabot Corporation COM                              | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |     24474 | NS      | $1843136.90   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| CACI International Inc.                    | CACI International Inc. CL A                       | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |     10268 | NS      | $5584457.24   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Columbia Banking System Inc.               | Columbia Banking System Inc. COM NPV               | CUSIP: 197236102<br>LEI: 254900CTRJTQZ3BJ2V17 | Long             | EC               | CORP              | US        |    137768 | NS      | $3778976.15   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Dentsply Sirona Inc                        | Dentsply Sirona Inc COM USD0.01                    | CUSIP: 24906P109<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | EC               | CORP              | US        |     90792 | NS      | $1053187.20   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Equitable Holdings Inc                     | Equitable Holdings Inc COM                         | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |    131019 | NS      | $4862115.21   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| First American Financial Corporation       | First American Financial Corporation COM           | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |     46878 | NS      | $2826274.62   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| First Financial Bankshares Inc             | First Financial Bankshares Inc COM                 | CUSIP: 32020R109<br>LEI: 549300XN3GTGOENGNV49 | Long             | EC               | CORP              | US        |     61269 | NS      | $1804372.07   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| First Industrial Realty Trust, Inc.        | First Industrial Realty Trust, Inc. COM            | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61590 | NS      | $3562981.44   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortune Brands Innovations Inc             | Fortune Brands Innovations Inc COM                 | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |     56620 | NS      | $2206481.39   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Guidewire Software Inc                     | Guidewire Software Inc COM                         | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |     39570 | NS      | $5918089.11   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Neurocrine Biosciences Inc                 | Neurocrine Biosciences Inc COM USD0.001            | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |     46735 | NS      | $6156868.97   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| New Jersey Resources Corp.                 | New Jersey Resources Corp. COM                     | CUSIP: 646025106<br>LEI: 549300QKBSQBIX4DQ583 | Long             | EC               | CORP              | US        |     47120 | NS      | $2587830.42   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| The New York Times Company                 | The New York Times Company CL A                    | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |     74970 | NS      | $6277238.16   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Newmarket Corporation                      | Newmarket Corporation COM NPV                      | CUSIP: 651587107<br>LEI: 54930082CG88ERDREQ47 | Long             | EC               | CORP              | US        |      3681 | NS      | $2359336.97   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| OGE Energy Corporation                     | OGE Energy Corporation COM                         | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |     95441 | NS      | $4577350.32   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Old National Bancorp                       | Old National Bancorp COM                           | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |    161422 | NS      | $3567426.21   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Old Republic International Corporation     | Old Republic International Corporation COM         | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |    105572 | NS      | $4212322.70   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Olin Corporation                           | Olin Corporation COM PAR $1                        | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Long             | EC               | CORP              | US        |     52452 | NS      | $1559397.97   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Portland General Electric Company          | Portland General Electric Company COM NEW          | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     51981 | NS      | $2743037.33   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| RH                                         | RH COM                                             | CUSIP: 74967X103<br>LEI: 5493008MTS3OGGMHGK69 | Long             | EC               | CORP              | US        |      6911 | NS      | $966296.02    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Rambus Inc.                                | Rambus Inc. COM                                    | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |     50007 | NS      | $4302102.18   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Southstate Bank Corp.                      | Southstate Bank Corp. COM                          | CUSIP: 84472E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46289 | NS      | $4282658.50   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc                  | Halozyme Therapeutics Inc COM                      | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     55079 | NS      | $3559755.84   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| HRTI LLC                                   | HRTI LLC CL A COM                                  | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |    164275 | NS      | $2791032.28   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Southwest Gas Holdings Inc                 | Southwest Gas Holdings Inc COM                     | CUSIP: 844895102<br>LEI: 254900LKF9EV0CUKNE09 | Long             | EC               | CORP              | US        |     29971 | NS      | $2604479.86   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| US Foods Holding Corp                      | US Foods Holding Corp COM                          | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |    102371 | NS      | $9439629.89   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Idacorp Inc                                | Idacorp Inc COM                                    | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |     25146 | NS      | $3595123.66   | 0.24%             |  |  |  | No            |                  2 | On Loan: —       |
| Illumina Inc                               | Illumina Inc COM USD0.01                           | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |     71097 | NS      | $8763416.11   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Valvoline Inc                              | Valvoline Inc COM                                  | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               | CORP              | US        |     60193 | NS      | $2027300.23   | 0.14%             |  |  |  | No            |                  2 | On Loan: —       |
| Wyndham Hotels & Resorts Inc               | Wyndham Hotels & Resorts Inc COM                   | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |     35078 | NS      | $2849385.89   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| XPO Inc                                    | XPO Inc COM                                        | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Long             | EC               | CORP              | US        |     54455 | NS      | $10594220.21  | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Sensata Technologies Holding PLC           | Sensata Technologies Holding PLC COM EUR0.01       | CUSIP: G8060N102<br>LEI: 529900MS7KFYCY9MS037 | Long             | EC               | CORP              | GB        |     66645 | NS      | $2347236.85   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Independence Realty Trust Inc              | Independence Realty Trust Inc COM                  | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |    111160 | NS      | $1655172.40   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| International Bancshares Corp              | International Bancshares Corp COM                  | CUSIP: 459044103<br>LEI: 549300Y16R531AU8TX77 | Long             | EC               | CORP              | US        |     25467 | NS      | $1713674.47   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| MSA Safety Inc.                            | MSA Safety Inc. COM                                | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |     16908 | NS      | $2772066.63   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| MACOM Technology Solutions Holdings Inc.   | MACOM Technology Solutions Holdings Inc. COM       | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29981 | NS      | $6657880.69   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| NNN REIT Inc                               | NNN REIT Inc COM                                   | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     88032 | NS      | $3699985.01   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Novanta Inc                                | Novanta Inc COM                                    | CUSIP: 67000B104<br>LEI: 549300NBPHPTUPTS8070 | Long             | EC               | CORP              | CA        |     16387 | NS      | $1935468.59   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| TXNM Energy Inc.                           | TXNM Energy Inc. COM NPV                           | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | EC               | CORP              | US        |     45637 | NS      | $2667939.07   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Penumbra Inc.                              | Penumbra Inc. COM                                  | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |     18206 | NS      | $5978304.21   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Permian Resources Corp                     | Permian Resources Corp CLASS A COM                 | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    344560 | NS      | $7346019.20   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Pilgrims Pride Corporation                 | Pilgrims Pride Corporation COM                     | CUSIP: 72147K108<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | EC               | CORP              | US        |     20144 | NS      | $760637.42    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Qualys Inc                                 | Qualys Inc COM                                     | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |     16549 | NS      | $1453829.67   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| RB Global Inc                              | RB Global Inc COM                                  | CUSIP: 74935Q107<br>LEI: 5493002H8U24DJXQ4886 | Long             | EC               | CORP              | CA        |     86286 | NS      | $8270513.25   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| SLM Corp.                                  | SLM Corp. COM                                      | CUSIP: 78442P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     91919 | NS      | $1967985.83   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Sabra Health Care REIT, Inc.               | Sabra Health Care REIT, Inc. COM                   | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |    116290 | NS      | $2236256.70   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Saia Inc                                   | Saia Inc COM USD0.001                              | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |     12367 | NS      | $4344279.81   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Solstice Advanced Materials Inc.           | Solstice Advanced Materials Inc. COM SHS           | CUSIP: 83443Q103<br>LEI: 2138004GZ4H9TW6HK435 | Long             | EC               | CORP              | US        |     73891 | NS      | $5627538.50   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM Technologies Inc                       | TTM Technologies Inc COM NPV                       | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |     47775 | NS      | $4654240.50   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| TransUnion                                 | TransUnion COM                                     | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |     89565 | NS      | $6197002.50   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Travel Plus Leisure Co                     | Travel Plus Leisure Co COM                         | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |     29877 | NS      | $2067189.60   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Twilio Inc                                 | Twilio Inc CL A                                    | CUSIP: 90138F102<br>LEI: 5493004W8TRGD63APX93 | Long             | EC               | CORP              | US        |     70507 | NS      | $8871191.00   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| CNH Industrial N.V.                        | CNH Industrial N.V. COM EUR0.01                    | CUSIP: N20944109<br>LEI: 549300WGC2HZ5J67V817 | Long             | EC               | CORP              | NL        |    408698 | NS      | $4495678.00   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Albertsons Companies Inc.                  | Albertsons Companies Inc. COMMON STOCK             | CUSIP: 013091103<br>LEI: 549300YKWOC0AOR16R51 | Long             | EC               | CORP              | US        |    172070 | NS      | $2932072.83   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Arrow Electronics, Inc.                    | Arrow Electronics, Inc. COM                        | CUSIP: 042735100<br>LEI: 549300YNNLBXT8N8R512 | Long             | EC               | CORP              | US        |     23632 | NS      | $3389065.10   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Ashland Inc.                               | Ashland Inc. COM                                   | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |     20817 | NS      | $1157633.36   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Associated Banc-Corp                       | Associated Banc-Corp COM                           | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |     77473 | NS      | $2003451.73   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Autoliv Inc.                               | Autoliv Inc. COM                                   | CUSIP: 052800109<br>LEI: A23RUXWKASG834LTMK28 | Long             | EC               | CORP              | US        |     32400 | NS      | $3407183.97   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Avnet, Inc.                                | Avnet, Inc. COM                                    | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | EC               | CORP              | US        |     38203 | NS      | $2354068.90   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Bio-Rad Laboratories, Inc.                 | Bio-Rad Laboratories, Inc. CL A                    | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |      8473 | NS      | $2361848.75   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Black Hills Corporation                    | Black Hills Corporation COM                        | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |     35139 | NS      | $2438998.01   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Block(H&R)Inc                              | Block(H&R)Inc COM                                  | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |     58593 | NS      | $1859741.82   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| BorgWarner Inc.                            | BorgWarner Inc. COM                                | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |     96420 | NS      | $5231749.00   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Boston Beer Co Inc                         | Boston Beer Co Inc CLASS'A'COM USD0.01             | CUSIP: 100557107<br>LEI: 529900Q02MQ0DCQNRM58 | Long             | EC               | CORP              | US        |      3473 | NS      | $800179.20    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Boyd Gaming Corporation                    | Boyd Gaming Corporation COM                        | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |     26593 | NS      | $2185412.72   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| CAVA Group Inc.                            | CAVA Group Inc. COM                                | CUSIP: 148929102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46211 | NS      | $3738469.80   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Columbia Sportswear Co.                    | Columbia Sportswear Co. COM                        | CUSIP: 198516106<br>LEI: 549300OTMCIEUXAH5Z60 | Long             | EC               | CORP              | US        |     11333 | NS      | $621161.74    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| DT Midstream Inc                           | DT Midstream Inc COMMON STOCK                      | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     47313 | NS      | $6371641.84   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Darling Ingredients, Inc                   | Darling Ingredients, Inc COM                       | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |     73372 | NS      | $4538058.19   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Dick's Sporting Goods, Inc.                | Dick's Sporting Goods, Inc. COM                    | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Long             | EC               | CORP              | US        |     30808 | NS      | $6108918.33   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Elanco Animal Health Inc                   | Elanco Animal Health Inc COM NPV                   | CUSIP: 28414H103<br>LEI: 549300SHPNDCE059M934 | Long             | EC               | CORP              | US        |    232035 | NS      | $5552597.50   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Ensign Group Inc                           | Ensign Group Inc COM                               | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     26946 | NS      | $5429619.00   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Envista Holdings Corporation               | Envista Holdings Corporation COM                   | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |     77213 | NS      | $1958893.77   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| F N B Corp (Pennsylvania)                  | F N B Corp (Pennsylvania) COM                      | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |    168600 | NS      | $2818992.03   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| First Horizon Corporation                  | First Horizon Corporation COM USD0.625             | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |    224958 | NS      | $5120044.09   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Fluor Corporation                          | Fluor Corporation COM USD0.01                      | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |     75016 | NS      | $3499496.38   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Flowserve Corporation                      | Flowserve Corporation COM                          | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |     59281 | NS      | $4357746.25   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Graham Holdings Co                         | Graham Holdings Co COM CL B                        | CUSIP: 384637104<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | EC               | CORP              | US        |      1609 | NS      | $1701131.40   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Hyatt Hotels Corporation                   | Hyatt Hotels Corporation COM CL A                  | CUSIP: 448579102<br>LEI: T27JQIMTYSH41TCD5186 | Long             | EC               | CORP              | US        |     19108 | NS      | $2747539.35   | 0.18%             |  |  |  | No            |                  2 | On Loan: —       |
| Jefferies Financial Group Inc              | Jefferies Financial Group Inc COM                  | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |     76177 | NS      | $3143824.82   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Kilroy Realty Corporation                  | Kilroy Realty Corporation COM                      | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     50872 | NS      | $1435099.12   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Kirby Corp                                 | Kirby Corp COM                                     | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |     25354 | NS      | $3369039.55   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Knife River Corp.                          | Knife River Corp. COMMON STOCK                     | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26746 | NS      | $2183810.87   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Kratos Defense & Security Solutions, Inc.  | Kratos Defense & Security Solutions, Inc. COM NEW  | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |     85783 | NS      | $6048559.50   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Marzetti Co.                               | Marzetti Co. COM                                   | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |      9401 | NS      | $1300440.33   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Landstar System Inc.                       | Landstar System Inc. COM                           | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |     15920 | NS      | $2552135.19   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Lattice Semiconductor Corporation          | Lattice Semiconductor Corporation COM              | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |     63644 | NS      | $5903617.38   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Lear Corporation                           | Lear Corporation COM NEW                           | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |     23526 | NS      | $2848528.10   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Littelfuse Inc.                            | Littelfuse Inc. COM                                | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |     11589 | NS      | $3932727.11   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Louisiana Pacific Corporation              | Louisiana Pacific Corporation COM                  | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |     29253 | NS      | $2128155.75   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| MGIC Investment Corp.                      | MGIC Investment Corp. COM                          | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |    103854 | NS      | $2726167.50   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| MSC Industrial Direct Co Inc.              | MSC Industrial Direct Co Inc. CL A                 | CUSIP: 553530106<br>LEI: 0XVKH0LN6YGOWO2EGO17 | Long             | EC               | CORP              | US        |     21171 | NS      | $1953448.14   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Macy's, Inc.                               | Macy's, Inc. COM                                   | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |    125004 | NS      | $2261322.34   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Masimo Corporation                         | Masimo Corporation COM STK USD0.001                | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Long             | EC               | CORP              | US        |     21174 | NS      | $3766219.39   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| National Storage Affiliates Trust          | National Storage Affiliates Trust COM SHS BEN IN   | CUSIP: 637870106<br>LEI: 529900FS06O8GOYNR108 | Long             | EC               | CORP              | US        |     33654 | NS      | $1270101.95   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Flagstar Bank National Association         | Flagstar Bank National Association COM NEW         | CUSIP: 649445400<br>LEI: SS1TRMSN6BRNMOREEV51 | Long             | EC               | CORP              | US        |    138041 | NS      | $1818000.04   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Nutanix Inc                                | Nutanix Inc CL A                                   | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |    125681 | NS      | $4777135.00   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Okta Inc.                                  | Okta Inc. CL A                                     | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |     78782 | NS      | $6200931.11   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Ormat Technologies Inc.                    | Ormat Technologies Inc. COM                        | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               | CORP              | US        |     28235 | NS      | $3160061.18   | 0.21%             |  |  |  | No            |                  2 | On Loan: —       |
| Ovintiv Inc                                | Ovintiv Inc COM                                    | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |    128761 | NS      | $7643253.03   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| PVH Corp.                                  | PVH Corp. COM                                      | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |     21864 | NS      | $1525232.63   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Parsons Corporation                        | Parsons Corporation COM                            | CUSIP: 70202L102<br>LEI: 549300ZXH0VRBSEPX752 | Long             | EC               | CORP              | US        |     24756 | NS      | $1341032.49   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Pinnacle Financial Partners Inc.           | Pinnacle Financial Partners Inc. COM               | CUSIP: 72348N109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     69935 | NS      | $6024200.72   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings Inc.                         | Post Holdings Inc. COM                             | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |     19756 | NS      | $1953078.17   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Prosperity Bancshares Inc                  | Prosperity Bancshares Inc COM                      | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46909 | NS      | $3151346.70   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Rexford Industrial Realty Inc.             | Rexford Industrial Realty Inc. COM                 | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |    107571 | NS      | $3520798.84   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Shift4 Payments Inc                        | Shift4 Payments Inc CL A                           | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30738 | NS      | $1344172.70   | 0.09%             |  |  |  | No            |                  2 | On Loan: —       |
| Sprouts Farmers Markets Inc                | Sprouts Farmers Markets Inc COM                    | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |     45199 | NS      | $3486198.93   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Sterling Infrastructure Inc                | Sterling Infrastructure Inc COM                    | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |     14258 | NS      | $5806855.50   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Texas Roadhouse Inc                        | Texas Roadhouse Inc COM                            | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     30843 | NS      | $5093412.99   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Topbuild Corporation                       | Topbuild Corporation COM                           | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |     13101 | NS      | $4602381.35   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| UFP Industries Inc                         | UFP Industries Inc COM                             | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |     27393 | NS      | $2523443.13   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| United Therapeutics Corporation            | United Therapeutics Corporation COM USD0.01        | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |     20008 | NS      | $11864343.82  | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Universal Display Corp.                    | Universal Display Corp. COM USD0.01                | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20922 | NS      | $1917710.50   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Visteon Corporation                        | Visteon Corporation COM NEW                        | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |     12843 | NS      | $1170125.74   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Voya Financial Inc                         | Voya Financial Inc COM                             | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |     43868 | NS      | $2997061.84   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Renaissancere Holdings Ltd.                | Renaissancere Holdings Ltd. COM USD1               | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               | CORP              | BM        |     20277 | NS      | $6026932.82   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-19

**Name of Applicant:** EMPOWER FUNDS, INC.

**Signature:** /s/Kelly New

**Name of Signer:** Kelly New

**Title:** Treasurer, Empower Funds, Inc.