# EDGAR Filing Document

**Accession Number:** 0000356476
**File Stem:** 0001145549-23-010246
**Filing Date:** 2023-2
**Character Count:** 13543
**Document Hash:** daad4cc8f32438342cf2ae41565c8565
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-010246.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001145549-23-010246

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20221231

**FILER**: 

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03364
- **FILM NUMBER:** 23670665

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

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

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

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

## Series and Classes Contracts Data

### Empower Lifetime 2020 Fund (Series ID: S000053676)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000168746 | Institutional Class | MXAKX           |
| C000168747 | Investor Class      | MXAGX           |
| C000168748 | Service Class       | MXAHX           |
| C000168749 | Class L             | MXAJX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Greenwood Village

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80111

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

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

- **a. Name of Series:** Empower Lifetime 2020 Fund

- **b. EDGAR series identifier (if any):** S000053676

- **c. LEI of Series:** 549300K85G2FMOX66314

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $372490832.27

**Total Liabilities:** $520844.53

**Net Assets:** $371969987.74

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000168746 | 3.06%                | 5.09%                | -2.12%               |
| Class ID C000168747 | 3.07%                | 5.00%                | -2.19%               |
| Class ID C000168748 | 3.04%                | 5.06%                | -2.19%               |
| Class ID C000168749 |  |  |  |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $153547.82               | $11275538.29                               |
| Month 2  | $-34191.64               | $18406886.34                               |
| Month 3  | $-920648.02              | $-18019447.41                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FIDELITY          | SALEM STREET TR EMRG MKT INS   | CUSIP: 316146331<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    586737 | NS      | $5532926.82   | 1.49%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| AMERICAN CENTURY  | REAL ESTATE FUND               | CUSIP: 025076282<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    263937 | NS      | $6081116.93   | 1.63%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | TEMPLETON GBL BOND FUND-INST   | CUSIP: 39137E285<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   2743487 | NS      | $20301800.33  | 5.46%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | TROWE PRICE MIDCAP GROWTH-INST | CUSIP: 39137E293<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   1132087 | NS      | $6656669.03   | 1.79%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | INTERNATIONAL INDEX FUND-INST  | CUSIP: 39137E376<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   2110801 | NS      | $19482689.95  | 5.24%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | ARIEL MID CAP VALUE FUND-INST  | CUSIP: 39137E384<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |    138248 | NS      | $1476493.67   | 0.40%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | MFS INTL GROWTH FUND-INST      | CUSIP: 39137E467<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   1148174 | NS      | $9082056.14   | 2.44%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | MFS INTL VALUE FUND-INST       | CUSIP: 39137E442<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   1379950 | NS      | $10335827.46  | 2.78%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| DFA               | INTERNATIONAL REAL ESTATE      | CUSIP: 233203348<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    720608 | NS      | $2673456.53   | 0.72%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | LOOMIS SAYLES BOND INST        | CUSIP: 39137E244<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   2048085 | NS      | $16405164.93  | 4.41%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | SHORT DURATION BOND FUND-INST  | CUSIP: 39137E319<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   1825846 | NS      | $16962106.33  | 4.56%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| JANUS             | TRITON N                       | CUSIP: 47103D793<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    104929 | NS      | $2615875.59   | 0.70%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | LARGE CAP VALUE-INST           | CUSIP: 39137E251<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   2480442 | NS      | $16842202.53  | 4.53%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | SMALL CAP VALUE FUND-INST      | CUSIP: 39137E335<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |    555400 | NS      | $3654535.14   | 0.98%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | S&P MID CAP 400 IND FUND-INST  | CUSIP: 39137E392<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   1802705 | NS      | $13880826.01  | 3.73%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | FEDERATED BOND FUND-INST       | CUSIP: 39137E459<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   2400179 | NS      | $20113500.68  | 5.41%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | MULTI-MAN LRG CAP GROWTH-INST  | CUSIP: 39137E475<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   1978883 | NS      | $15494655.15  | 4.17%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | MULTI MGR SCG FUND INST        | CUSIP: 39137G736<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |     69713 | NS      | $637173.87    | 0.17%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | GS MID CAP VALUE FUND-INST     | CUSIP: 39137E426<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |    785541 | NS      | $5765870.04   | 1.55%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | HIGH YIELD BOND-INST           | CUSIP: 39137E483<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   1289435 | NS      | $11592017.04  | 3.12%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | S&P 600 INDEX FUND-INST        | CUSIP: 39137E491<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   1125584 | NS      | $6843552.41   | 1.84%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | REAL ESTATE INDEX FUND-INST    | CUSIP: 39137E343<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |    428966 | NS      | $3298745.07   | 0.89%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | EM EQUITY FUND INST CL         | CUSIP: 39137G330<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | RF                | US        |    702963 | NS      | $5525290.60   | 1.49%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | BOND INDEX FUND-INST           | CUSIP: 39137E525<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   4953693 | NS      | $40867966.24  | 10.99%            | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER           | GUARANTEED FUNDING ACCOUNT     | CUSIP: GPFML1001<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  32908697 | NS      | $39599035.26  | 10.65%            | 2023-01-03      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| EMPOWER FUNDS INC | S&P 500 INDEX FUND-INST        | CUSIP: 39137E434<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | CORP              | US        |   4246685 | NS      | $32317274.03  | 8.69%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| EMPOWER FUNDS INC | INFL-PROTECT SEC FUND INST CL  | CUSIP: 39137G298<br>LEI: RUYOMHMDMSPQ01U66388 | Long             | EC               | RF                | US        |   4299706 | NS      | $38052399.01  | 10.23%            | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** /s/Kelly New

**Name of Signer:** Kelly New

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