# EDGAR Filing Document

**Accession Number:** 0000356476
**File Stem:** 0001193125-26-232063
**Filing Date:** 2026-5
**Character Count:** 310264
**Document Hash:** ef1898f733d4d2390ad904252864fff8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-232063.hdr.sgml**: 20260520

**ACCESSION NUMBER**: 0001193125-26-232063

**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:** 261002489

**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 500 Index Fund (Series ID: S000023743)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000069820 | Investor Class      | MXVIX           |
| C000155769 | Institutional Class | MXKWX           |

## Nport-Ex

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

---

| | |
|:---|:---|
| **Empower Large Cap Growth Fund** | &nbsp;&nbsp;&nbsp;**Empower Large Cap Value Fund** |
| **Institutional Class Ticker / MXGSX** | &nbsp;&nbsp;&nbsp;**Institutional Class Ticker / MXVHX** |
| **Investor Class Ticker / MXLGX** | &nbsp;&nbsp;&nbsp;**Investor Class Ticker / MXEQX** |
|  | &nbsp;&nbsp;&nbsp;**Investor II Class Ticker / MXHAX** |
| **Empower S&P 500® Index Fund** |  |
| **Institutional Class Ticker / MXKWX** |  |
| **Investor Class Ticker / MXVIX** |  |

---

<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 LARGE CAP GROWTH FUND

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

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| **COMMON STOCK** | **COMMON STOCK** | **COMMON STOCK** |
| Basic Materials — 0.52% | Basic Materials — 0.52% | Basic Materials — 0.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;69172 | Freeport-McMoRan Inc | &nbsp;&nbsp;&nbsp;$4065930 |
| &nbsp;&nbsp;&nbsp;&nbsp;13210 | Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp; 6548990 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10614920 |
| Communications — 21.50% | Communications — 21.50% | Communications — 21.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;74436 | Alibaba Group Holding Ltd Sponsored ADR | &nbsp;&nbsp;&nbsp;&nbsp; 9338741 |
| &nbsp;&nbsp;&nbsp;355098 | Alphabet Inc Class C | &nbsp;&nbsp;&nbsp;&nbsp; 101863411 |
| &nbsp;&nbsp;&nbsp;464887 | Amazon.com Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96822015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1221 | AppLovin Corp Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5784 | Booking Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24352491 |
| &nbsp;&nbsp;&nbsp;&nbsp;33447 | Ciena Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12985129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | DoorDash Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303904 |
| &nbsp;&nbsp;&nbsp;&nbsp;13312 | Hims & Hers Health Inc<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686 | MercadoLibre Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1186108 |
| &nbsp;&nbsp;&nbsp;&nbsp;58975 | Meta Platforms Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33741367 |
| &nbsp;&nbsp;&nbsp;&nbsp;67294 | Motorola Solutions Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29203578 |
| &nbsp;&nbsp;&nbsp;266446 | Netflix Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25618783 |
| 1390932 | Pinterest Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25509693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9666 | Robinhood Markets Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037 | Sea Ltd ADR<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85874 |
| &nbsp;&nbsp;&nbsp;122810 | Shopify Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14567722 |
| &nbsp;&nbsp;&nbsp;&nbsp;26876 | Spotify Technology SA<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13032441 |
| &nbsp;&nbsp;&nbsp;503301 | Uber Technologies Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36202441 |
| &nbsp;&nbsp;&nbsp;147559 | Walt Disney Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14221736 |
| &nbsp;&nbsp;&nbsp;&nbsp;16289 | Wayfair Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225096 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441692699 |
| Consumer, Cyclical — 8.76% | Consumer, Cyclical — 8.76% | Consumer, Cyclical — 8.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418 | AutoZone Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1411912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3311 | Carvana Co<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040912 |
| &nbsp;&nbsp;&nbsp;200087 | Copart Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6642889 |
| &nbsp;&nbsp;&nbsp;&nbsp;30888 | Dollar General Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3667332 |
| &nbsp;&nbsp;&nbsp;&nbsp;19901 | DR Horton Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2730815 |
| &nbsp;&nbsp;&nbsp;&nbsp;47913 | Home Depot Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15758106 |
| &nbsp;&nbsp;&nbsp;&nbsp;36223 | McDonald's Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11257746 |
| &nbsp;&nbsp;&nbsp;237502 | O'Reilly Automotive Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21923810 |
| &nbsp;&nbsp;&nbsp;128890 | Ross Stores Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27921440 |
| &nbsp;&nbsp;&nbsp;&nbsp;96243 | Tesla Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35778336 |
| &nbsp;&nbsp;&nbsp;197304 | TJX Cos Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31509449 |
| &nbsp;&nbsp;&nbsp;164073 | Walmart Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20390993 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180033740 |
| Consumer, Non-Cyclical — 15.72% | Consumer, Non-Cyclical — 15.72% | Consumer, Non-Cyclical — 15.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;87229 | Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8955801 |
| &nbsp;&nbsp;&nbsp;&nbsp;37929 | AbbVie Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8249178 |
| &nbsp;&nbsp;&nbsp;&nbsp;20402 | Alnylam Pharmaceuticals Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6750410 |
| &nbsp;&nbsp;&nbsp;&nbsp;26724 | Amgen Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9402840 |
| &nbsp;&nbsp;&nbsp;&nbsp;89069 | Bristol-Myers Squibb Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5402035 |
| &nbsp;&nbsp;&nbsp;190646 | Coca-Cola Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14498628 |
| &nbsp;&nbsp;&nbsp;&nbsp;72720 | Eli Lilly & Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66885675 |
| &nbsp;&nbsp;&nbsp;125325 | Gilead Sciences Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17466545 |
| &nbsp;&nbsp;&nbsp;104655 | Insmed Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17113186 |
| &nbsp;&nbsp;&nbsp;&nbsp;58863 | Intuitive Surgical Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27135255 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Consumer, Non-Cyclical — (continued) | Consumer, Non-Cyclical — (continued) | Consumer, Non-Cyclical — (continued) |
| &nbsp;&nbsp;95022 | Johnson & Johnson | &nbsp;&nbsp;&nbsp;$23227177 |
| &nbsp;&nbsp;11522 | McKesson Corp | &nbsp;&nbsp;&nbsp;&nbsp; 9970678 |
| 108434 | Merck & Co Inc | &nbsp;&nbsp;&nbsp;&nbsp; 13043526 |
| 120331 | Monster Beverage Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 8719184 |
| &nbsp;&nbsp;59729 | Natera Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 11945203 |
| 104789 | Philip Morris International Inc | &nbsp;&nbsp;&nbsp;&nbsp; 17325813 |
| &nbsp;&nbsp;51408 | Procter & Gamble Co | &nbsp;&nbsp;&nbsp;&nbsp; 7425372 |
| &nbsp;&nbsp;14683 | Quanta Services Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8061261 |
| &nbsp;&nbsp;31014 | Thermo Fisher Scientific Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15244311 |
| &nbsp;&nbsp;58495 | Vertex Pharmaceuticals Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26120357 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322942435 |
| Energy — 0.85% | Energy — 0.85% | Energy — 0.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;4499 | Cheniere Energy Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1276636 |
| &nbsp;&nbsp;95290 | Exxon Mobil Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16166901 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17443537 |
| Financial — 7.87% | Financial — 7.87% | Financial — 7.87% |
| &nbsp;&nbsp;26105 | Berkshire Hathaway Inc Class B<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12509516 |
| 129807 | Charles Schwab Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12199262 |
| &nbsp;&nbsp;23547 | Goldman Sachs Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19920527 |
| 210439 | Intercontinental Exchange Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33097846 |
| &nbsp;&nbsp;90907 | Mastercard Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45422592 |
| 127223 | Visa Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38451880 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161601623 |
| Industrial — 9.05% | Industrial — 9.05% | Industrial — 9.05% |
| &nbsp;&nbsp;98852 | 3M Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14356276 |
| 408911 | Amphenol Corp Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51665904 |
| &nbsp;&nbsp;63569 | Boeing Co<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12652138 |
| &nbsp;&nbsp;16656 | Celestica Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4691662 |
| &nbsp;&nbsp;13847 | Deere & Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800015 |
| &nbsp;&nbsp;49637 | Eaton Corp PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17753666 |
| &nbsp;&nbsp;27058 | GE Vernova Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23618928 |
| &nbsp;&nbsp;51374 | General Electric Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14578400 |
| &nbsp;&nbsp;43514 | Rocket Lab Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2794469 |
| &nbsp;&nbsp;35545 | Rockwell Automation Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12756390 |
| &nbsp;&nbsp;70439 | RTX Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13587683 |
| &nbsp;&nbsp;&nbsp;&nbsp;5502 | Trane Technologies PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2292904 |
| &nbsp;&nbsp;30186 | Union Pacific Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7323727 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185872162 |
| Technology — 31.92% | Technology — 31.92% | Technology — 31.92% |
| 200678 | Advanced Micro Devices Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40823925 |
| &nbsp;&nbsp;55927 | Analog Devices Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17792616 |
| 532710 | Apple Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135196466 |
| &nbsp;&nbsp;32668 | ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43148874 |
| &nbsp;&nbsp;95299 | Broadcom Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29495993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;652 | Cloudflare Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134534 |
| &nbsp;&nbsp;&nbsp;&nbsp;2258 | Crowdstrike Holdings Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881546 |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER LARGE CAP GROWTH FUND

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

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Technology — (continued) | Technology — (continued) | Technology — (continued) |
| &nbsp;&nbsp;55137 | International Business Machines Corp | &nbsp;&nbsp;&nbsp;$13364657 |
| &nbsp;&nbsp;47997 | Intuit Inc | &nbsp;&nbsp;&nbsp;&nbsp; 20752943 |
| &nbsp;&nbsp;37711 | Lam Research Corp | &nbsp;&nbsp;&nbsp;&nbsp; 8057332 |
| &nbsp;&nbsp;&nbsp;&nbsp;8529 | Lumentum Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 5993840 |
| 380648 | Microchip Technology Inc | &nbsp;&nbsp;&nbsp;&nbsp; 24593667 |
| 234666 | Microsoft Corp | &nbsp;&nbsp;&nbsp;&nbsp; 86866313 |
| 717194 | NVIDIA Corp | &nbsp;&nbsp;&nbsp;&nbsp; 125078636 |
| &nbsp;&nbsp;&nbsp;&nbsp;9900 | Oracle Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1456389 |
| &nbsp;&nbsp;&nbsp;&nbsp;8261 | Palantir Technologies Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1208419 |
| &nbsp;&nbsp;&nbsp;&nbsp;1639 | ROBLOX Corp Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92702 |
| 243717 | ServiceNow Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25480612 |
| &nbsp;&nbsp;13462 | Snowflake Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2030339 |
| &nbsp;&nbsp;88211 | Synopsys Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34973898 |
| &nbsp;&nbsp;42210 | Taiwan Semiconductor Manufacturing Co Ltd Sponsored ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14264870 |
| &nbsp;&nbsp;57506 | Texas Instruments Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11164215 |
| &nbsp;&nbsp;19968 | Twilio Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2512374 |
| &nbsp;&nbsp;37594 | Western Digital Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10168801 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655533961 |
| Utilities — 0.15% | Utilities — 0.15% | Utilities — 0.15% |
| &nbsp;&nbsp;20051 | Vistra Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3014267 |
| **TOTAL COMMON STOCK — 96.34%<br> (Cost $1,650,383,800)** | **TOTAL COMMON STOCK — 96.34%<br> (Cost $1,650,383,800)** | &nbsp;&nbsp;&nbsp;**$1978749344** |

---

---

| | |
|:---|:---|
| **Shares** | &nbsp;&nbsp;&nbsp;**Fair Value** |
| **GOVERNMENT MONEY MARKET MUTUAL FUNDS** | **GOVERNMENT MONEY MARKET MUTUAL FUNDS** |
| 1225780 Dreyfus Institutional Preferred Government Money Market Fund Institutional Class<sup>(c)</sup>, 3.60%<sup>(d)</sup> | &nbsp;&nbsp;&nbsp;$1225780 |
| **TOTAL GOVERNMENT MONEY MARKET MUTUAL FUNDS — 0.06%<br> (Cost $1,225,780)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1225780** |
| **TOTAL INVESTMENTS — 96.40%<br> (Cost $1,651,609,580)** | &nbsp;&nbsp;&nbsp;**$1979975124** |
| **OTHER ASSETS & LIABILITIES, NET — 3.60%** | &nbsp;&nbsp;&nbsp;&nbsp;**$74003094** |
| **TOTAL NET ASSETS — 100.00%** | &nbsp;&nbsp;&nbsp;**$2053978218** |

---

<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>ADR</sup> American Depositary Receipt

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER LARGE 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 — 2.61% | Basic Materials — 2.61% | Basic Materials — 2.61% |
| 128752 | CF Industries Holdings Inc | &nbsp;&nbsp;&nbsp;$16717160 |
| &nbsp;&nbsp;50768 | Eastman Chemical Co | &nbsp;&nbsp;&nbsp;&nbsp; 3874614 |
| 281974 | Freeport-McMoRan Inc | &nbsp;&nbsp;&nbsp;&nbsp; 16574431 |
| 330951 | International Paper Co | &nbsp;&nbsp;&nbsp;&nbsp; 11814951 |
| &nbsp;&nbsp;48774 | PPG Industries Inc | &nbsp;&nbsp;&nbsp;&nbsp; 5212965 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54194121 |
| Communications — 9.55% | Communications — 9.55% | Communications — 9.55% |
| 195311 | Alphabet Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56163633 |
| &nbsp;&nbsp;49163 | Alphabet Inc Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14102898 |
| 171572 | Amazon.com Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35733300 |
| &nbsp;&nbsp;19803 | Charter Communications Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4275072 |
| 495116 | Cisco Systems Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38416050 |
| 253375 | Comcast Corp Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7274396 |
| &nbsp;&nbsp;&nbsp;&nbsp;7621 | Meta Platforms Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4360203 |
| 307712 | News Corp Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7671260 |
| 100954 | T-Mobile US Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21203368 |
| &nbsp;&nbsp;&nbsp;&nbsp;5384 | Versant Media Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199316 |
| &nbsp;&nbsp;92407 | Walt Disney Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8906187 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198305683 |
| Consumer, Cyclical — 6.48% | Consumer, Cyclical — 6.48% | Consumer, Cyclical — 6.48% |
| &nbsp;&nbsp;59664 | BJ's Wholesale Club Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5872131 |
| 333835 | General Motors Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24870707 |
| &nbsp;&nbsp;42912 | Hilton Worldwide Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13048681 |
| &nbsp;&nbsp;28517 | Home Depot Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9378956 |
| 194286 | Las Vegas Sands Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10468130 |
| 189594 | Mattel Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2754801 |
| 162092 | PulteGroup Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19063640 |
| 670170 | Southwest Airlines Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25178287 |
| 192235 | Walmart Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23890966 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134526299 |
| Consumer, Non-Cyclical — 21.36% | Consumer, Non-Cyclical — 21.36% | Consumer, Non-Cyclical — 21.36% |
| &nbsp;&nbsp;42584 | AbbVie Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9261594 |
| 119852 | AstraZeneca PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23435752 |
| &nbsp;&nbsp;17206 | Avery Dennison Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2971132 |
| 145873 | Becton Dickinson & Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22935612 |
| &nbsp;&nbsp;14508 | Biogen Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2659752 |
| &nbsp;&nbsp;58003 | Booz Allen Hamilton Holding Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4525974 |
| 129579 | Boston Scientific Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8131082 |
| 105637 | Bristol-Myers Squibb Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6406884 |
| &nbsp;&nbsp;30400 | Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8109200 |
| 339308 | Coca-Cola Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25804373 |
| 179043 | Colgate-Palmolive Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15259835 |
| &nbsp;&nbsp;90197 | Conagra Brands Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1417897 |
| 221457 | Corteva Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18538165 |
| 164307 | CVS Health Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11800529 |
| &nbsp;&nbsp;42068 | Elevance Health Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12315407 |
| &nbsp;&nbsp;12635 | Global Payments Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850336 |
| &nbsp;&nbsp;22868 | Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5589854 |
| 434981 | Kenvue Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7499072 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Consumer, Non-Cyclical — (continued) | Consumer, Non-Cyclical — (continued) | Consumer, Non-Cyclical — (continued) |
| &nbsp;&nbsp;67226 | Kimberly-Clark Corp | &nbsp;&nbsp;&nbsp;$6485292 |
| 145021 | Kroger Co | &nbsp;&nbsp;&nbsp;&nbsp; 10493720 |
| &nbsp;&nbsp;27873 | McKesson Corp | &nbsp;&nbsp;&nbsp;&nbsp; 24120179 |
| &nbsp;&nbsp;88197 | Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp; 7642270 |
| &nbsp;&nbsp;87978 | Merck & Co Inc | &nbsp;&nbsp;&nbsp;&nbsp; 10582874 |
| 257912 | Novo Nordisk A/S Sponsored ADR | &nbsp;&nbsp;&nbsp;&nbsp; 9478266 |
| 224666 | Philip Morris International Inc | &nbsp;&nbsp;&nbsp;&nbsp; 37146277 |
| 206260 | Procter & Gamble Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29792194 |
| &nbsp;&nbsp;25920 | Regeneron Pharmaceuticals Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20026829 |
| 142910 | Sanofi SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800861 |
| &nbsp;&nbsp;18432 | Sanofi SA ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888054 |
| &nbsp;&nbsp;49497 | Thermo Fisher Scientific Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24329261 |
| 122171 | Tyson Foods Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7827496 |
| &nbsp;&nbsp;12546 | United Rentals Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9140514 |
| &nbsp;&nbsp;67011 | UnitedHealth Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18132506 |
| 717526 | Viatris Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9693776 |
| &nbsp;&nbsp;20935 | Waters Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6234443 |
| 111424 | Zimmer Biomet Holdings Inc<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10074958 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443402220 |
| Energy — 9.15% | Energy — 9.15% | Energy — 9.15% |
| &nbsp;&nbsp;54976 | Chevron Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11374534 |
| 242432 | ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32001024 |
| &nbsp;&nbsp;60319 | EOG Resources Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8720318 |
| &nbsp;&nbsp;54805 | EQT Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3487790 |
| &nbsp;&nbsp;70688 | Expand Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7760129 |
| 314383 | Exxon Mobil Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53338219 |
| &nbsp;&nbsp;42755 | Kinder Morgan Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1433575 |
| &nbsp;&nbsp;&nbsp;&nbsp;7146 | Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1301858 |
| 324587 | Shell PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15031068 |
| 110234 | SLB Ltd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5664925 |
| &nbsp;&nbsp;80695 | South Bow Corp<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2684613 |
| &nbsp;&nbsp;65618 | TC Energy Corp<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4108967 |
| 252799 | TotalEnergies SE<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23175632 |
| &nbsp;&nbsp;60501 | Valero Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14948587 |
| &nbsp;&nbsp;66783 | Williams Cos Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4860467 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189891706 |
| Financial — 22.03% | Financial — 22.03% | Financial — 22.03% |
| 108604 | Allstate Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22517953 |
| 287116 | American International Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21605479 |
| &nbsp;&nbsp;17871 | American Tower Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3084177 |
| 101329 | Apollo Global Management Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11290077 |
| 735252 | Bank of America Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35843535 |
| &nbsp;&nbsp;&nbsp;&nbsp;9658 | Blackrock Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9288195 |
| 116943 | Capital One Financial Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21333911 |
| 385683 | Charles Schwab Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36246488 |
| &nbsp;&nbsp;46604 | Chubb Ltd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15189642 |
| 523458 | Citigroup Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59365371 |
| &nbsp;&nbsp;50861 | CME Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15021796 |
| &nbsp;&nbsp;66992 | Corebridge Financial Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1598429 |
| &nbsp;&nbsp;&nbsp;&nbsp;6924 | CubeSmart REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253765 |
| 282635 | Equitable Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10488585 |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER LARGE CAP VALUE FUND

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

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Financial — (continued) | Financial — (continued) | Financial — (continued) |
| 178444 | Equity Residential REIT | &nbsp;&nbsp;&nbsp;$10554963 |
| 241208 | Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp; 11206524 |
| &nbsp;&nbsp;17311 | Goldman Sachs Group Inc | &nbsp;&nbsp;&nbsp;&nbsp; 14644933 |
| &nbsp;&nbsp;11669 | Hartford Insurance Group Inc | &nbsp;&nbsp;&nbsp;&nbsp; 1577999 |
| 640951 | Huntington Bancshares Inc | &nbsp;&nbsp;&nbsp;&nbsp; 10030883 |
| &nbsp;&nbsp;96934 | JPMorgan Chase & Co | &nbsp;&nbsp;&nbsp;&nbsp; 28514105 |
| 123205 | Loews Corp | &nbsp;&nbsp;&nbsp;&nbsp; 13150902 |
| 272776 | MetLife Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19290719 |
| &nbsp;&nbsp;12231 | Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2012856 |
| &nbsp;&nbsp;70373 | PNC Financial Services Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14643918 |
| &nbsp;&nbsp;79164 | Prologis Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10463897 |
| &nbsp;&nbsp;&nbsp;&nbsp;4277 | Public Storage REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1158554 |
| 408756 | Rayonier Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8428549 |
| 164907 | Rexford Industrial Realty Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5397406 |
| &nbsp;&nbsp;79087 | State Street Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10009251 |
| &nbsp;&nbsp;16517 | Sun Communities Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2080481 |
| 261189 | US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13584440 |
| 180264 | Vornado Realty Trust REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4685061 |
| 107489 | Wells Fargo & Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8557199 |
| 172350 | Weyerhaeuser Co REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4210511 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457330554 |
| Industrial — 12.67% | Industrial — 12.67% | Industrial — 12.67% |
| &nbsp;&nbsp;15054 | 3M Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2186292 |
| &nbsp;&nbsp;53895 | AGCO Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6244814 |
| &nbsp;&nbsp;71755 | Ball Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4241438 |
| &nbsp;&nbsp;58411 | Boeing Co<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11625541 |
| 132820 | CRH PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13962038 |
| 314322 | CSX Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12902918 |
| &nbsp;&nbsp;15814 | Dover Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3296428 |
| &nbsp;&nbsp;56918 | FedEx Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20273054 |
| 217020 | Fortive Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11996866 |
| &nbsp;&nbsp;35050 | General Electric Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9946139 |
| &nbsp;&nbsp;97529 | Honeywell International Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22044480 |
| 121318 | Ingersoll Rand Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9719998 |
| &nbsp;&nbsp;56025 | Johnson Controls International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7336474 |
| &nbsp;&nbsp;44781 | L3Harris Technologies Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15456162 |
| &nbsp;&nbsp;22180 | Middleby Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2940624 |
| &nbsp;&nbsp;&nbsp;&nbsp;7349 | Norfolk Southern Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2109163 |
| &nbsp;&nbsp;24537 | Northrop Grumman Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16740123 |
| 146168 | Otis Worldwide Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11266629 |
| &nbsp;&nbsp;97416 | Ralliant Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4051531 |
| &nbsp;&nbsp;18910 | Rockwell Automation Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6786421 |
| &nbsp;&nbsp;91562 | RTX Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17662309 |
| &nbsp;&nbsp;48523 | Siemens AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11821914 |
| 128507 | StandardAero Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3319336 |
| 167845 | Stanley Black & Decker Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11927066 |
| &nbsp;&nbsp;&nbsp;&nbsp;5694 | TE Connectivity PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190160 |
| &nbsp;&nbsp;&nbsp;&nbsp;2683 | Teledyne Technologies Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1623242 |
| &nbsp;&nbsp;25820 | Union Pacific Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6264448 |
| &nbsp;&nbsp;84913 | United Parcel Service Inc Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8353741 |
| &nbsp;&nbsp;86226 | West Fraser Timber Co Ltd<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5629696 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262919045 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Technology — 7.86% | Technology — 7.86% | Technology — 7.86% |
| &nbsp;&nbsp;83557 | Accenture PLC Class A | &nbsp;&nbsp;&nbsp;$16568518 |
| &nbsp;&nbsp;38627 | Advanced Micro Devices Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 7857891 |
| &nbsp;&nbsp;36302 | Applied Materials Inc | &nbsp;&nbsp;&nbsp;&nbsp; 12407660 |
| &nbsp;&nbsp;59351 | Fiserv Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 3311786 |
| 163967 | Intel Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 7235864 |
| 117377 | Marvell Technology Inc | &nbsp;&nbsp;&nbsp;&nbsp; 11626192 |
| &nbsp;&nbsp;86775 | Microsoft Corp | &nbsp;&nbsp;&nbsp;&nbsp; 32121502 |
| 162120 | QUALCOMM Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20877814 |
| &nbsp;&nbsp;41505 | Salesforce Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7747738 |
| 167805 | Samsung Electronics Co Ltd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19626716 |
| &nbsp;&nbsp;35450 | Seagate Technology Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13887892 |
| &nbsp;&nbsp;51120 | Texas Instruments Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9924437 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163194010 |
| Utilities — 5.26% | Utilities — 5.26% | Utilities — 5.26% |
| 129429 | Alliant Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9287825 |
| &nbsp;&nbsp;97437 | Ameren Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10710275 |
| 382131 | NextEra Energy Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35492327 |
| &nbsp;&nbsp;58733 | NRG Energy Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8583240 |
| 268573 | PPL Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10259489 |
| 103284 | Sempra | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10036106 |
| 227029 | Southern Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21912839 |
| &nbsp;&nbsp;36706 | Xcel Energy Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2915925 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109198026 |
| **TOTAL COMMON STOCK — 96.97%<br> (Cost $1,617,428,590)** | **TOTAL COMMON STOCK — 96.97%<br> (Cost $1,617,428,590)** | &nbsp;&nbsp;&nbsp;**$2012961664** |
| **CONVERTIBLE PREFERRED STOCK** | **CONVERTIBLE PREFERRED STOCK** | **CONVERTIBLE PREFERRED STOCK** |
| Utilities — 0.14% | Utilities — 0.14% | Utilities — 0.14% |
| &nbsp;&nbsp;55459 | Southern Co 7.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2863368 |
| **TOTAL CONVERTIBLE PREFERRED STOCK — 0.14%<br> (Cost $2,780,905)** | **TOTAL CONVERTIBLE PREFERRED STOCK — 0.14%<br> (Cost $2,780,905)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$2863368** |
| **PREFERRED STOCK** | **PREFERRED STOCK** | **PREFERRED STOCK** |
| Industrial — 0.23% | Industrial — 0.23% | Industrial — 0.23% |
| &nbsp;&nbsp;73117 | Boeing Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4746024 |
| **TOTAL PREFERRED STOCK — 0.23%<br> (Cost $4,071,737)** | **TOTAL PREFERRED STOCK — 0.23%<br> (Cost $4,071,737)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$4746024** |
| **EXCHANGE TRADED FUNDS** | **EXCHANGE TRADED FUNDS** | **EXCHANGE TRADED FUNDS** |
| &nbsp;&nbsp;46206 | iShares Russell 1000 Value ETF<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9872836 |
| **TOTAL EXCHANGE TRADED FUNDS — 0.48%<br> (Cost $10,259,965)** | **TOTAL EXCHANGE TRADED FUNDS — 0.48%<br> (Cost $10,259,965)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$9872836** |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER LARGE CAP VALUE FUND

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

---

| | |
|:---|:---|
| **Shares** | &nbsp;&nbsp;&nbsp;**Fair Value** |
| **GOVERNMENT MONEY MARKET MUTUAL FUNDS** | **GOVERNMENT MONEY MARKET MUTUAL FUNDS** |
| 21190572 Dreyfus Institutional Preferred Government Money Market Fund Institutional Class<sup>(c)</sup>, 3.60%<sup>(d)</sup> | &nbsp;&nbsp;&nbsp;$21190572 |
| **TOTAL GOVERNMENT MONEY MARKET MUTUAL FUNDS — 1.02%<br> (Cost $21,190,572)** | &nbsp;&nbsp;&nbsp;&nbsp;**$21190572** |
| **TOTAL INVESTMENTS — 98.84%<br> (Cost $1,655,731,769)** | &nbsp;&nbsp;&nbsp;**$2051634464** |
| **OTHER ASSETS & LIABILITIES, NET — 1.16%** | &nbsp;&nbsp;&nbsp;&nbsp;**$24176568** |
| **TOTAL NET ASSETS — 100.00%** | &nbsp;&nbsp;&nbsp;**$2075811032** |

---

<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>ADR</sup> American Depositary Receipt

<sup>ETF</sup> Exchange Traded Fund

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| As of March 31, 2026 the Fund held the following over-the-counter ("OTC") forward foreign currency contracts:: | As of March 31, 2026 the Fund held the following over-the-counter ("OTC") forward foreign currency contracts:: | As of March 31, 2026 the Fund held the following over-the-counter ("OTC") forward foreign currency contracts:: | As of March 31, 2026 the Fund held the following over-the-counter ("OTC") forward foreign currency contracts:: | As of March 31, 2026 the Fund held the following over-the-counter ("OTC") forward foreign currency contracts:: | As of March 31, 2026 the Fund held the following over-the-counter ("OTC") forward foreign currency contracts:: | As of March 31, 2026 the Fund held the following over-the-counter ("OTC") forward foreign currency contracts:: |
| **Counterparty** | **Currency<br> Purchased** | **Quantity of<br> Currency<br> Purchased** | **Currency<br> Sold** | **Quantity of<br> Currency<br> Sold** | **Settlement Date** | **Net<br> Unrealized<br> Appreciation/<br> (Depreciation)** |
| BB | USD | &nbsp;&nbsp;&nbsp;&nbsp;579788 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;504400 | 06/17/2026 | $(5370) |
| BB | USD | &nbsp;&nbsp;3423443 | GBP | &nbsp;&nbsp;2586200 | 06/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp;1316 |
| CGM | USD | &nbsp;&nbsp;1264756 | EUR | &nbsp;&nbsp;1100300 | 06/17/2026 | (11709) |
| CGM | USD | &nbsp;&nbsp;&nbsp;&nbsp;622694 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;470400 | 06/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248 |
| GS | USD | &nbsp;&nbsp;3235472 | EUR | &nbsp;&nbsp;2814800 | 06/17/2026 | (29997) |
| GS | USD | &nbsp;&nbsp;5096228 | GBP | &nbsp;&nbsp;3849900 | 06/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp;1940 |
| HSB | DKK | 14455900 | USD | &nbsp;&nbsp;2233520 | 06/17/2026 | &nbsp;&nbsp;12976 |
| HSB | USD | &nbsp;&nbsp;1976025 | EUR | &nbsp;&nbsp;1713200 | 06/17/2026 | (11470) |
| HSB | USD | &nbsp;&nbsp;2235456 | GBP | &nbsp;&nbsp;1680800 | 06/17/2026 | &nbsp;&nbsp;11377 |
| MS | EUR | &nbsp;&nbsp;1694300 | USD | &nbsp;&nbsp;1958450 | 06/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp;7119 |
| MS | USD | &nbsp;&nbsp;8753625 | DKK | 56531700 | 06/17/2026 | (31593) |
| MS | USD | &nbsp;&nbsp;&nbsp;&nbsp;707971 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;610000 | 06/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306 |
| MS | USD | &nbsp;&nbsp;8993721 | GBP | &nbsp;&nbsp;6749600 | 06/17/2026 | &nbsp;&nbsp;62473 |
| SSB | USD | &nbsp;&nbsp;2550963 | EUR | &nbsp;&nbsp;2211600 | 06/17/2026 | (14729) |
| SSB | USD | &nbsp;&nbsp;2345107 | GBP | &nbsp;&nbsp;1763200 | 06/17/2026 | &nbsp;&nbsp;11995 |
| TD | USD | &nbsp;&nbsp;1941926 | EUR | &nbsp;&nbsp;1683500 | 06/17/2026 | (11114) |
| TD | USD | &nbsp;&nbsp;2938036 | GBP | &nbsp;&nbsp;2209000 | 06/17/2026 | &nbsp;&nbsp;15030 |
| UBS | USD | &nbsp;&nbsp;&nbsp;&nbsp;676599 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;586600 | 06/17/2026 | &nbsp;&nbsp;(3920) |
| WES | USD | &nbsp;&nbsp;&nbsp;&nbsp;322651 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;280700 | 06/17/2026 | &nbsp;&nbsp;(2991) |
|  |  |  |  |  | **Net Appreciation** | &nbsp;&nbsp;**$1887** |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER LARGE CAP VALUE FUND

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

---

| | |
|:---|:---|
| **Abbreviations** | **Abbreviations** |
| BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barclays Bank PLC |
| CGM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup Global Markets |
| GS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs |
| HSB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HSBC Bank USA |
| MS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley & Co LLC |
| SSB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State Street Bank |
| TD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Toronto Dominion Bank |
| UBS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UBS AG |
| WES | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Westpac Banking |

---

---

| | |
|:---|:---|
| **Currency Abbreviations** | **Currency Abbreviations** |
| DKK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Danish Krone |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Euro Dollar |
| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;British Pound |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Dollar |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER S&P 500® 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 — 1.60% | Basic Materials — 1.60% | Basic Materials — 1.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;36081 | Air Products & Chemicals Inc | &nbsp;&nbsp;&nbsp;$10481170 |
| &nbsp;&nbsp;&nbsp;&nbsp;18780 | Albemarle Corp | &nbsp;&nbsp;&nbsp;&nbsp; 3371573 |
| &nbsp;&nbsp;&nbsp;&nbsp;25302 | CF Industries Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp; 3285212 |
| &nbsp;&nbsp;&nbsp;116955 | Dow Inc | &nbsp;&nbsp;&nbsp;&nbsp; 4871176 |
| &nbsp;&nbsp;&nbsp;&nbsp;65209 | DuPont de Nemours Inc | &nbsp;&nbsp;&nbsp;&nbsp; 2986572 |
| &nbsp;&nbsp;&nbsp;&nbsp;41309 | Ecolab Inc | &nbsp;&nbsp;&nbsp;&nbsp; 10989020 |
| &nbsp;&nbsp;&nbsp;232896 | Freeport-McMoRan Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13689627 |
| &nbsp;&nbsp;&nbsp;&nbsp;40645 | International Flavors & Fragrances Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2948795 |
| &nbsp;&nbsp;&nbsp;&nbsp;84147 | International Paper Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3004048 |
| &nbsp;&nbsp;&nbsp;&nbsp;75668 | Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37513168 |
| &nbsp;&nbsp;&nbsp;&nbsp;43217 | LyondellBasell Industries NV Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3481561 |
| &nbsp;&nbsp;&nbsp;&nbsp;51435 | Mosaic Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1311592 |
| &nbsp;&nbsp;&nbsp;176837 | Newmont Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19142605 |
| &nbsp;&nbsp;&nbsp;&nbsp;37086 | Nucor Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6271243 |
| &nbsp;&nbsp;&nbsp;&nbsp;37747 | PPG Industries Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4034399 |
| &nbsp;&nbsp;&nbsp;&nbsp;33379 | Qnity Electronics Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3851269 |
| &nbsp;&nbsp;&nbsp;&nbsp;37358 | Sherwin-Williams Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11975107 |
| &nbsp;&nbsp;&nbsp;&nbsp;21998 | Steel Dynamics Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3959640 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147167777 |
| Communications — 16.21% | Communications — 16.21% | Communications — 16.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;68154 | Airbnb Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8606487 |
| &nbsp;&nbsp;&nbsp;944167 | Alphabet Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271504661 |
| &nbsp;&nbsp;&nbsp;758411 | Alphabet Inc Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217557776 |
| 1584271 | Amazon.com Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329956119 |
| &nbsp;&nbsp;&nbsp;&nbsp;43916 | AppLovin Corp Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17478568 |
| &nbsp;&nbsp;&nbsp;167334 | Arista Networks Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20545269 |
| 1134431 | AT&T Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32887156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5224 | Booking Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21994712 |
| &nbsp;&nbsp;&nbsp;&nbsp;20748 | CDW Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2510923 |
| &nbsp;&nbsp;&nbsp;&nbsp;14321 | Charter Communications Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3091617 |
| &nbsp;&nbsp;&nbsp;&nbsp;22826 | Ciena Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8861738 |
| &nbsp;&nbsp;&nbsp;640581 | Cisco Systems Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49702680 |
| &nbsp;&nbsp;&nbsp;581494 | Comcast Corp Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16694692 |
| &nbsp;&nbsp;&nbsp;126517 | Corning Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17202517 |
| &nbsp;&nbsp;&nbsp;&nbsp;60579 | DoorDash Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9095937 |
| &nbsp;&nbsp;&nbsp;&nbsp;73246 | eBay Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6666851 |
| &nbsp;&nbsp;&nbsp;&nbsp;21452 | EchoStar Corp Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2511386 |
| &nbsp;&nbsp;&nbsp;&nbsp;18962 | Expedia Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4378136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9160 | F5 Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2650263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6150 | FactSet Research Systems Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1334489 |
| &nbsp;&nbsp;&nbsp;&nbsp;33852 | Fox Corp Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1976957 |
| &nbsp;&nbsp;&nbsp;&nbsp;22729 | Fox Corp Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206910 |
| &nbsp;&nbsp;&nbsp;&nbsp;85744 | Gen Digital Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1614560 |
| &nbsp;&nbsp;&nbsp;&nbsp;21199 | GoDaddy Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1752521 |
| &nbsp;&nbsp;&nbsp;354705 | Meta Platforms Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202937373 |
| &nbsp;&nbsp;&nbsp;&nbsp;26844 | Motorola Solutions Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11649491 |
| &nbsp;&nbsp;&nbsp;684931 | Netflix Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65856115 |
| &nbsp;&nbsp;&nbsp;&nbsp;65325 | News Corp Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1628552 |
| &nbsp;&nbsp;&nbsp;&nbsp;19473 | News Corp Class B<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555175 |
| &nbsp;&nbsp;&nbsp;&nbsp;50134 | Omnicom Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3775592 |
| &nbsp;&nbsp;&nbsp;130947 | Palo Alto Networks Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20993423 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Communications — (continued) | Communications — (continued) | Communications — (continued) |
| &nbsp;&nbsp;63545 | Paramount Skydance Corp Class B<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;$573176 |
| 128071 | Robinhood Markets Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 8875320 |
| &nbsp;&nbsp;76778 | T-Mobile US Inc | &nbsp;&nbsp;&nbsp;&nbsp; 16125683 |
| &nbsp;&nbsp;67612 | Trade Desk Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 1534116 |
| 333513 | Uber Technologies Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 23989590 |
| &nbsp;&nbsp;13151 | VeriSign Inc | &nbsp;&nbsp;&nbsp;&nbsp; 3266182 |
| 683356 | Verizon Communications Inc | &nbsp;&nbsp;&nbsp;&nbsp; 34304471 |
| 287071 | Walt Disney Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27667903 |
| 401619 | Warner Bros Discovery Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11028458 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1486543545 |
| Consumer, Cyclical — 8.16% | Consumer, Cyclical — 8.16% | Consumer, Cyclical — 8.16% |
| &nbsp;&nbsp;33903 | Aptiv PLC<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2354224 |
| &nbsp;&nbsp;&nbsp;&nbsp;2685 | AutoZone Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9069339 |
| &nbsp;&nbsp;31054 | Best Buy Co Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1993667 |
| 183283 | Carnival Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4743364 |
| &nbsp;&nbsp;22918 | Carvana Co<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7204961 |
| 211616 | Chipotle Mexican Grill Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6773828 |
| 144966 | Copart Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4812871 |
| &nbsp;&nbsp;72003 | Costco Wholesale Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71745950 |
| &nbsp;&nbsp;22390 | Cummins Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12046268 |
| &nbsp;&nbsp;18664 | Darden Restaurants Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3658891 |
| &nbsp;&nbsp;22621 | Deckers Outdoor Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2264136 |
| 105263 | Delta Air Lines Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6997884 |
| &nbsp;&nbsp;35707 | Dollar General Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4239492 |
| &nbsp;&nbsp;30046 | Dollar Tree Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3290338 |
| &nbsp;&nbsp;&nbsp;&nbsp;5148 | Domino's Pizza Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1847051 |
| &nbsp;&nbsp;43660 | DR Horton Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5991025 |
| 186061 | Fastenal Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8633230 |
| 635006 | Ford Motor Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7327969 |
| 145816 | General Motors Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10863292 |
| &nbsp;&nbsp;21762 | Genuine Parts Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2301332 |
| &nbsp;&nbsp;21246 | Hasbro Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1988626 |
| &nbsp;&nbsp;37660 | Hilton Worldwide Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11451653 |
| 161321 | Home Depot Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53056864 |
| &nbsp;&nbsp;48994 | Las Vegas Sands Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2639797 |
| &nbsp;&nbsp;36127 | Lennar Corp Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3137269 |
| &nbsp;&nbsp;25247 | Live Nation Entertainment Inc<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3850420 |
| &nbsp;&nbsp;90901 | Lowe's Cos Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21478088 |
| &nbsp;&nbsp;17298 | Lululemon Athletica Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2648324 |
| &nbsp;&nbsp;35640 | Marriott International Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11656775 |
| 115403 | McDonald's Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35866098 |
| &nbsp;&nbsp;30393 | MGM Resorts International<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124845 |
| 193079 | NIKE Inc Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10198433 |
| &nbsp;&nbsp;70254 | Norwegian Cruise Line Holdings Ltd<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1313750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | NVR Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2932474 |
| 136429 | O'Reilly Automotive Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12593761 |
| &nbsp;&nbsp;85140 | PACCAR Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9833670 |
| &nbsp;&nbsp;&nbsp;&nbsp;6328 | Pool Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1280344 |
| &nbsp;&nbsp;31447 | PulteGroup Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3698482 |
| &nbsp;&nbsp;&nbsp;&nbsp;7122 | Ralph Lauren Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2449897 |
| &nbsp;&nbsp;52413 | Ross Stores Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11354228 |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER S&P 500® INDEX FUND

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

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Consumer, Cyclical — (continued) | Consumer, Cyclical — (continued) | Consumer, Cyclical — (continued) |
| &nbsp;&nbsp;40769 | Royal Caribbean Cruises Ltd | &nbsp;&nbsp;&nbsp;$11218813 |
| &nbsp;&nbsp;85135 | Southwest Airlines Co | &nbsp;&nbsp;&nbsp;&nbsp; 3198522 |
| 184621 | Starbucks Corp | &nbsp;&nbsp;&nbsp;&nbsp; 16540195 |
| &nbsp;&nbsp;32808 | Tapestry Inc | &nbsp;&nbsp;&nbsp;&nbsp; 4629537 |
| &nbsp;&nbsp;73376 | Target Corp | &nbsp;&nbsp;&nbsp;&nbsp; 8893171 |
| 456006 | Tesla Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 169520235 |
| 179949 | TJX Cos Inc | &nbsp;&nbsp;&nbsp;&nbsp; 28737855 |
| &nbsp;&nbsp;10742 | TKO Group Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2166124 |
| &nbsp;&nbsp;85626 | Tractor Supply Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3878858 |
| &nbsp;&nbsp;&nbsp;&nbsp;7198 | Ulta Beauty Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3762467 |
| &nbsp;&nbsp;52487 | United Airlines Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4832478 |
| 710679 | Walmart Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88323187 |
| &nbsp;&nbsp;19449 | Williams-Sonoma Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3546136 |
| &nbsp;&nbsp;&nbsp;&nbsp;7089 | WW Grainger Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7732752 |
| &nbsp;&nbsp;13894 | Wynn Resorts Ltd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1410936 |
| &nbsp;&nbsp;44843 | Yum! Brands Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6972190 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748076366 |
| Consumer, Non-Cyclical — 13.84% | Consumer, Non-Cyclical — 13.84% | Consumer, Non-Cyclical — 13.84% |
| 281782 | Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28930557 |
| 286519 | AbbVie Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62315017 |
| &nbsp;&nbsp;45835 | Agilent Technologies Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5224273 |
| &nbsp;&nbsp;11854 | Align Technology Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2032131 |
| 272026 | Altria Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17950996 |
| &nbsp;&nbsp;87260 | Amgen Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30702431 |
| &nbsp;&nbsp;77982 | Archer-Daniels-Midland Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5668512 |
| &nbsp;&nbsp;65248 | Automatic Data Processing Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13257089 |
| &nbsp;&nbsp;12526 | Avery Dennison Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2162990 |
| &nbsp;&nbsp;77558 | Baxter International Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1302974 |
| &nbsp;&nbsp;46087 | Becton Dickinson & Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7246259 |
| &nbsp;&nbsp;23388 | Biogen Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4287722 |
| &nbsp;&nbsp;24030 | Bio-Techne Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255808 |
| &nbsp;&nbsp;88944 | Block Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5352650 |
| 240321 | Boston Scientific Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15080143 |
| 330007 | Bristol-Myers Squibb Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20014924 |
| &nbsp;&nbsp;27229 | Brown-Forman Corp Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719935 |
| &nbsp;&nbsp;22315 | Bunge Global SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2838468 |
| &nbsp;&nbsp;35429 | Campbell's Co<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789004 |
| &nbsp;&nbsp;38133 | Cardinal Health Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8057884 |
| &nbsp;&nbsp;31524 | Cencora Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9902949 |
| &nbsp;&nbsp;75704 | Centene Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2478549 |
| &nbsp;&nbsp;&nbsp;&nbsp;7955 | Charles River Laboratories International Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1372238 |
| &nbsp;&nbsp;41950 | Church & Dwight Co Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3914774 |
| &nbsp;&nbsp;42693 | Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11388358 |
| &nbsp;&nbsp;55082 | Cintas Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9316569 |
| &nbsp;&nbsp;19269 | Clorox Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1996846 |
| 627361 | Coca-Cola Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47710805 |
| 130622 | Colgate-Palmolive Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11132913 |
| &nbsp;&nbsp;78378 | Conagra Brands Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1232102 |
| &nbsp;&nbsp;22383 | Constellation Brands Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3357450 |
| &nbsp;&nbsp;31032 | Cooper Cos Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2218788 |
| &nbsp;&nbsp;11109 | Corpay Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3232608 |
| 109371 | Corteva Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9155446 |
| 206160 | CVS Health Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14806411 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Consumer, Non-Cyclical — (continued) | Consumer, Non-Cyclical — (continued) | Consumer, Non-Cyclical — (continued) |
| 101952 | Danaher Corp | &nbsp;&nbsp;&nbsp;$19330099 |
| &nbsp;&nbsp;&nbsp;&nbsp;5992 | DaVita Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 920910 |
| &nbsp;&nbsp;64165 | Dexcom Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 4029562 |
| &nbsp;&nbsp;92981 | Edwards Lifesciences Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 7445918 |
| &nbsp;&nbsp;35765 | Elevance Health Inc | &nbsp;&nbsp;&nbsp;&nbsp; 10470204 |
| 128457 | Eli Lilly & Co | &nbsp;&nbsp;&nbsp;&nbsp; 118150895 |
| &nbsp;&nbsp;19187 | Equifax Inc | &nbsp;&nbsp;&nbsp;&nbsp; 3455003 |
| &nbsp;&nbsp;39683 | Estee Lauder Cos Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2848049 |
| &nbsp;&nbsp;73854 | GE HealthCare Technologies Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5256928 |
| &nbsp;&nbsp;85031 | General Mills Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3164854 |
| 201050 | Gilead Sciences Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28020339 |
| &nbsp;&nbsp;39308 | Global Payments Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2645428 |
| &nbsp;&nbsp;25571 | HCA Healthcare Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12101220 |
| &nbsp;&nbsp;16216 | Henry Schein Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1195119 |
| &nbsp;&nbsp;24011 | Hershey Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4991647 |
| &nbsp;&nbsp;36732 | Hologic Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2776572 |
| &nbsp;&nbsp;52384 | Hormel Foods Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1186498 |
| &nbsp;&nbsp;19542 | Humana Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3388387 |
| &nbsp;&nbsp;12940 | IDEXX Laboratories Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7270857 |
| &nbsp;&nbsp;27090 | Incyte Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2549711 |
| &nbsp;&nbsp;11211 | Insulet Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2352516 |
| &nbsp;&nbsp;57549 | Intuitive Surgical Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26529514 |
| &nbsp;&nbsp;27484 | IQVIA Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4687121 |
| &nbsp;&nbsp;17795 | J M Smucker Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1716150 |
| 390724 | Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95508574 |
| 310506 | Kenvue Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5353124 |
| 219920 | Keurig Dr Pepper Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5790494 |
| &nbsp;&nbsp;53788 | Kimberly-Clark Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5188928 |
| 135819 | Kraft Heinz Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3054569 |
| &nbsp;&nbsp;93324 | Kroger Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6752925 |
| &nbsp;&nbsp;13210 | Labcorp Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3524560 |
| &nbsp;&nbsp;41093 | McCormick & Co Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2072731 |
| &nbsp;&nbsp;19848 | McKesson Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17175665 |
| 207747 | Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18001278 |
| 402207 | Merck & Co Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48381480 |
| &nbsp;&nbsp;57731 | Moderna Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2932735 |
| &nbsp;&nbsp;26968 | Molson Coors Beverage Co Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1161242 |
| 207720 | Mondelez International Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11972981 |
| 115576 | Monster Beverage Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8374637 |
| &nbsp;&nbsp;24862 | Moody's Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10846047 |
| 149192 | PayPal Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6747954 |
| 221462 | PepsiCo Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34390834 |
| 921358 | Pfizer Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25871733 |
| 252257 | Philip Morris International Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41708172 |
| 376981 | Procter & Gamble Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54451135 |
| &nbsp;&nbsp;24163 | Quanta Services Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13265970 |
| &nbsp;&nbsp;17825 | Quest Diagnostics Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3493344 |
| &nbsp;&nbsp;16334 | Regeneron Pharmaceuticals Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12620302 |
| &nbsp;&nbsp;23214 | ResMed Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5211079 |
| &nbsp;&nbsp;19666 | Revvity Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1722938 |
| &nbsp;&nbsp;46766 | Rollins Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2497772 |
| &nbsp;&nbsp;49586 | S&P Global Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21090909 |
| &nbsp;&nbsp;23494 | Solventum Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1534158 |
| &nbsp;&nbsp;16972 | STERIS PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3753018 |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER S&P 500® 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) |
| &nbsp;&nbsp;55812 | Stryker Corp | &nbsp;&nbsp;&nbsp;$18339265 |
| &nbsp;&nbsp;77609 | Sysco Corp | &nbsp;&nbsp;&nbsp;&nbsp; 5535850 |
| &nbsp;&nbsp;60882 | Thermo Fisher Scientific Inc | &nbsp;&nbsp;&nbsp;&nbsp; 29925330 |
| &nbsp;&nbsp;45708 | Tyson Foods Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp; 2928512 |
| &nbsp;&nbsp;10195 | United Rentals Inc | &nbsp;&nbsp;&nbsp;&nbsp; 7427669 |
| 146789 | UnitedHealth Group Inc | &nbsp;&nbsp;&nbsp;&nbsp; 39719636 |
| &nbsp;&nbsp;&nbsp;&nbsp;8715 | Universal Health Services Inc Class B | &nbsp;&nbsp;&nbsp;&nbsp; 1559724 |
| &nbsp;&nbsp;22723 | Verisk Analytics Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4311689 |
| &nbsp;&nbsp;41160 | Vertex Pharmaceuticals Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18379586 |
| 202750 | Viatris Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2739152 |
| &nbsp;&nbsp;15584 | Waters Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4640915 |
| &nbsp;&nbsp;11514 | West Pharmaceutical Services Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2885869 |
| &nbsp;&nbsp;30993 | Zimmer Biomet Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2802387 |
| &nbsp;&nbsp;70660 | Zoetis Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8352719 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1268889665 |
| Energy — 4.00% | Energy — 4.00% | Energy — 4.00% |
| &nbsp;&nbsp;57154 | APA Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2425616 |
| 159869 | Baker Hughes Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9760002 |
| 304038 | Chevron Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62905462 |
| 198537 | ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26206884 |
| 122937 | Coterra Energy Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4320006 |
| 100833 | Devon Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5073917 |
| &nbsp;&nbsp;30181 | Diamondback Energy Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5969500 |
| &nbsp;&nbsp;87927 | EOG Resources Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12711606 |
| 101130 | EQT Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6435913 |
| &nbsp;&nbsp;37955 | Expand Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4166700 |
| 677605 | Exxon Mobil Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114962464 |
| &nbsp;&nbsp;17101 | First Solar Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3373343 |
| 135724 | Halliburton Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5291879 |
| 317256 | Kinder Morgan Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10637593 |
| &nbsp;&nbsp;47804 | Marathon Petroleum Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11672781 |
| 116545 | Occidental Petroleum Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7575425 |
| 101965 | ONEOK Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9216616 |
| &nbsp;&nbsp;65292 | Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11894897 |
| 242315 | SLB Ltd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12452568 |
| &nbsp;&nbsp;34785 | Targa Resources Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8721643 |
| &nbsp;&nbsp;&nbsp;&nbsp;9414 | Texas Pacific Land Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4467508 |
| &nbsp;&nbsp;49426 | Valero Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12212176 |
| 197896 | Williams Cos Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14402871 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366857370 |
| Financial — 13.54% | Financial — 13.54% | Financial — 13.54% |
| &nbsp;&nbsp;75649 | Aflac Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8299452 |
| &nbsp;&nbsp;24249 | Alexandria Real Estate Equities Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125639 |
| &nbsp;&nbsp;41994 | Allstate Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8707036 |
| &nbsp;&nbsp;86869 | American Express Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26276135 |
| &nbsp;&nbsp;86949 | American International Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6542912 |
| &nbsp;&nbsp;75863 | American Tower Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13092437 |
| &nbsp;&nbsp;14795 | Ameriprise Financial Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6574898 |
| &nbsp;&nbsp;34760 | Aon PLC Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11219833 |
| &nbsp;&nbsp;75246 | Apollo Global Management Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8383909 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Financial — (continued) | Financial — (continued) | Financial — (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;58209 | Arch Capital Group Ltd<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;$5587482 |
| &nbsp;&nbsp;&nbsp;&nbsp;32830 | Ares Management Corp Class A | &nbsp;&nbsp;&nbsp;&nbsp; 3581753 |
| &nbsp;&nbsp;&nbsp;&nbsp;41643 | Arthur J Gallagher & Co | &nbsp;&nbsp;&nbsp;&nbsp; 9019041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8138 | Assurant Inc | &nbsp;&nbsp;&nbsp;&nbsp; 1772538 |
| &nbsp;&nbsp;&nbsp;&nbsp;22565 | AvalonBay Communities Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp; 3685993 |
| 1075952 | Bank of America Corp | &nbsp;&nbsp;&nbsp;&nbsp; 52452660 |
| &nbsp;&nbsp;&nbsp;111528 | Bank of New York Mellon Corp | &nbsp;&nbsp;&nbsp;&nbsp; 13230566 |
| &nbsp;&nbsp;&nbsp;297382 | Berkshire Hathaway Inc Class B<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142505453 |
| &nbsp;&nbsp;&nbsp;&nbsp;23382 | Blackrock Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22486703 |
| &nbsp;&nbsp;&nbsp;121324 | Blackstone Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13951047 |
| &nbsp;&nbsp;&nbsp;&nbsp;47442 | Brown & Brown Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3093693 |
| &nbsp;&nbsp;&nbsp;&nbsp;25123 | BXP Inc REIT<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1303884 |
| &nbsp;&nbsp;&nbsp;&nbsp;16060 | Camden Property Trust REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1568420 |
| &nbsp;&nbsp;&nbsp;101297 | Capital One Financial Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18479611 |
| &nbsp;&nbsp;&nbsp;&nbsp;17029 | Cboe Global Markets Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4786341 |
| &nbsp;&nbsp;&nbsp;&nbsp;47086 | CBRE Group Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6378269 |
| &nbsp;&nbsp;&nbsp;270933 | Charles Schwab Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25462284 |
| &nbsp;&nbsp;&nbsp;&nbsp;58941 | Chubb Ltd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19210640 |
| &nbsp;&nbsp;&nbsp;&nbsp;25494 | Cincinnati Financial Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4011481 |
| &nbsp;&nbsp;&nbsp;283395 | Citigroup Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32139828 |
| &nbsp;&nbsp;&nbsp;&nbsp;69340 | Citizens Financial Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4158320 |
| &nbsp;&nbsp;&nbsp;&nbsp;58435 | CME Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17258777 |
| &nbsp;&nbsp;&nbsp;&nbsp;36263 | Coinbase Global Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6331883 |
| &nbsp;&nbsp;&nbsp;&nbsp;68294 | CoStar Group Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2754980 |
| &nbsp;&nbsp;&nbsp;&nbsp;70569 | Crown Castle Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5737965 |
| &nbsp;&nbsp;&nbsp;&nbsp;52333 | Digital Realty Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9430930 |
| &nbsp;&nbsp;&nbsp;&nbsp;15923 | Equinix Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15608362 |
| &nbsp;&nbsp;&nbsp;&nbsp;55817 | Equity Residential REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3301575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4049 | Erie Indemnity Co Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017554 |
| &nbsp;&nbsp;&nbsp;&nbsp;10461 | Essex Property Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2531562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6669 | Everest Group Ltd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2179763 |
| &nbsp;&nbsp;&nbsp;&nbsp;33824 | Extra Space Storage Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4435341 |
| &nbsp;&nbsp;&nbsp;&nbsp;17108 | Federal Realty Investment Trust REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1817041 |
| &nbsp;&nbsp;&nbsp;145854 | Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6776377 |
| &nbsp;&nbsp;&nbsp;&nbsp;51088 | Franklin Resources Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206699 |
| &nbsp;&nbsp;&nbsp;&nbsp;12686 | Globe Life Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1765511 |
| &nbsp;&nbsp;&nbsp;&nbsp;48628 | Goldman Sachs Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41138802 |
| &nbsp;&nbsp;&nbsp;&nbsp;45196 | Hartford Insurance Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6111855 |
| &nbsp;&nbsp;&nbsp;112235 | Healthpeak Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1844021 |
| &nbsp;&nbsp;&nbsp;100229 | Host Hotels & Resorts Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1920388 |
| &nbsp;&nbsp;&nbsp;328924 | Huntington Bancshares Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5147661 |
| &nbsp;&nbsp;&nbsp;&nbsp;72171 | Interactive Brokers Group Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4840509 |
| &nbsp;&nbsp;&nbsp;&nbsp;92027 | Intercontinental Exchange Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14474007 |
| &nbsp;&nbsp;&nbsp;&nbsp;72465 | Invesco Ltd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1760175 |
| &nbsp;&nbsp;&nbsp;&nbsp;91392 | Invitation Homes Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2271091 |
| &nbsp;&nbsp;&nbsp;&nbsp;48135 | Iron Mountain Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4916509 |
| &nbsp;&nbsp;&nbsp;437327 | JPMorgan Chase & Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128644110 |
| &nbsp;&nbsp;&nbsp;149324 | KeyCorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2993946 |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER S&P 500® INDEX FUND

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

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Financial — (continued) | Financial — (continued) | Financial — (continued) |
| 107413 | Kimco Realty Corp REIT | &nbsp;&nbsp;&nbsp;$2413570 |
| 111233 | KKR & Co Inc | &nbsp;&nbsp;&nbsp;&nbsp; 10289052 |
| &nbsp;&nbsp;27703 | Loews Corp | &nbsp;&nbsp;&nbsp;&nbsp; 2957018 |
| &nbsp;&nbsp;24605 | M&T Bank Corp | &nbsp;&nbsp;&nbsp;&nbsp; 5086346 |
| &nbsp;&nbsp;78451 | Marsh & McLennan Cos Inc | &nbsp;&nbsp;&nbsp;&nbsp; 13607326 |
| 132039 | Mastercard Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp; 65974606 |
| &nbsp;&nbsp;89199 | MetLife Inc | &nbsp;&nbsp;&nbsp;&nbsp; 6308153 |
| &nbsp;&nbsp;18629 | Mid-America Apartment Communities Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2274973 |
| 195034 | Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32096746 |
| &nbsp;&nbsp;72771 | Nasdaq Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6177530 |
| &nbsp;&nbsp;30406 | Northern Trust Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4243765 |
| &nbsp;&nbsp;65451 | PNC Financial Services Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13619699 |
| &nbsp;&nbsp;32175 | Principal Financial Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2899289 |
| &nbsp;&nbsp;94976 | Progressive Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18828042 |
| 150633 | Prologis Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19910670 |
| &nbsp;&nbsp;56392 | Prudential Financial Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5508934 |
| &nbsp;&nbsp;25596 | Public Storage REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6933444 |
| &nbsp;&nbsp;28640 | Raymond James Financial Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4146786 |
| 149069 | Realty Income Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9120041 |
| &nbsp;&nbsp;26966 | Regency Centers Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040248 |
| 141625 | Regions Financial Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3699245 |
| &nbsp;&nbsp;17947 | SBA Communications Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3088858 |
| &nbsp;&nbsp;52700 | Simon Property Group Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9830131 |
| &nbsp;&nbsp;45268 | State Street Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5729118 |
| &nbsp;&nbsp;56327 | Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3831362 |
| &nbsp;&nbsp;35423 | T Rowe Price Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3193029 |
| &nbsp;&nbsp;35040 | Travelers Cos Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10220467 |
| 204580 | Truist Financial Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9404543 |
| &nbsp;&nbsp;47801 | UDR Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1614718 |
| 251893 | US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13100955 |
| &nbsp;&nbsp;76967 | Ventas Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6294361 |
| 173198 | VICI Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4731769 |
| 272572 | Visa Inc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82382162 |
| &nbsp;&nbsp;48283 | W R Berkley Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200197 |
| 501491 | Wells Fargo & Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39923699 |
| 113069 | Welltower Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22354872 |
| 117698 | Weyerhaeuser Co REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2875362 |
| &nbsp;&nbsp;15491 | Willis Towers Watson PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4503234 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1241719972 |
| Industrial — 8.50% | Industrial — 8.50% | Industrial — 8.50% |
| &nbsp;&nbsp;85352 | 3M Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12395671 |
| &nbsp;&nbsp;18084 | A O Smith Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1192459 |
| &nbsp;&nbsp;14480 | Allegion PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2103799 |
| &nbsp;&nbsp;74923 | Amcor PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2978189 |
| &nbsp;&nbsp;37422 | AMETEK Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8021780 |
| 199192 | Amphenol Corp Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25167910 |
| &nbsp;&nbsp;12794 | Axon Enterprise Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5433484 |
| &nbsp;&nbsp;47666 | Ball Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2817537 |
| 127264 | Boeing Co<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25329354 |
| &nbsp;&nbsp;18002 | Builders FirstSource Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1482105 |
| 127321 | Carrier Global Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7169445 |
| &nbsp;&nbsp;75472 | Caterpillar Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53468893 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Industrial — (continued) | Industrial — (continued) | Industrial — (continued) |
| &nbsp;&nbsp;19223 | CH Robinson Worldwide Inc | &nbsp;&nbsp;&nbsp;$3192364 |
| &nbsp;&nbsp;30382 | Coherent Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 7237296 |
| &nbsp;&nbsp;&nbsp;&nbsp;5703 | Comfort Systems USA Inc | &nbsp;&nbsp;&nbsp;&nbsp; 7864380 |
| 108617 | CRH PLC | &nbsp;&nbsp;&nbsp;&nbsp; 11417819 |
| 301338 | CSX Corp | &nbsp;&nbsp;&nbsp;&nbsp; 12369925 |
| &nbsp;&nbsp;40853 | Deere & Co | &nbsp;&nbsp;&nbsp;&nbsp; 23012495 |
| &nbsp;&nbsp;23296 | Dover Corp | &nbsp;&nbsp;&nbsp;&nbsp; 4856051 |
| &nbsp;&nbsp;62940 | Eaton Corp PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22511750 |
| &nbsp;&nbsp;&nbsp;&nbsp;7265 | EMCOR Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5363822 |
| &nbsp;&nbsp;91072 | Emerson Electric Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11932254 |
| &nbsp;&nbsp;21781 | Expeditors International of Washington Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3119693 |
| &nbsp;&nbsp;35054 | FedEx Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12485534 |
| &nbsp;&nbsp;55006 | Fortive Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3040732 |
| &nbsp;&nbsp;26316 | Garmin Ltd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6105575 |
| &nbsp;&nbsp;43677 | GE Vernova Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38125653 |
| &nbsp;&nbsp;&nbsp;&nbsp;9240 | Generac Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804849 |
| &nbsp;&nbsp;41126 | General Dynamics Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14115266 |
| 169959 | General Electric Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48229265 |
| 102883 | Honeywell International Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23254645 |
| &nbsp;&nbsp;64972 | Howmet Aerospace Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14973447 |
| &nbsp;&nbsp;&nbsp;&nbsp;8615 | Hubbell Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4227725 |
| &nbsp;&nbsp;&nbsp;&nbsp;6254 | Huntington Ingalls Industries Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2375895 |
| &nbsp;&nbsp;12130 | IDEX Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2299242 |
| &nbsp;&nbsp;42500 | Illinois Tool Works Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11062325 |
| &nbsp;&nbsp;58773 | Ingersoll Rand Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4708893 |
| &nbsp;&nbsp;18224 | Jabil Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4840841 |
| &nbsp;&nbsp;19033 | Jacobs Solutions Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2422520 |
| &nbsp;&nbsp;12148 | JB Hunt Transport Services Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2574161 |
| &nbsp;&nbsp;99185 | Johnson Controls International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12988276 |
| &nbsp;&nbsp;27795 | Keysight Technologies Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7848474 |
| &nbsp;&nbsp;30266 | L3Harris Technologies Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10446310 |
| &nbsp;&nbsp;&nbsp;&nbsp;5086 | Lennox International Inc<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2360565 |
| &nbsp;&nbsp;32809 | Lockheed Martin Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19829431 |
| &nbsp;&nbsp;&nbsp;&nbsp;9783 | Martin Marietta Materials Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5759056 |
| &nbsp;&nbsp;31760 | Masco Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1917351 |
| &nbsp;&nbsp;&nbsp;&nbsp;3447 | Mettler-Toledo International Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4347357 |
| &nbsp;&nbsp;&nbsp;&nbsp;9165 | Nordson Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2438440 |
| &nbsp;&nbsp;36391 | Norfolk Southern Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10444217 |
| &nbsp;&nbsp;21618 | Northrop Grumman Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14748664 |
| &nbsp;&nbsp;29817 | Old Dominion Freight Line Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5826242 |
| &nbsp;&nbsp;62991 | Otis Worldwide Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4855346 |
| &nbsp;&nbsp;14482 | Packaging Corp of America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3073370 |
| &nbsp;&nbsp;20453 | Parker-Hannifin Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18310344 |
| &nbsp;&nbsp;26517 | Pentair PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2309896 |
| &nbsp;&nbsp;32606 | Republic Services Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7141366 |
| &nbsp;&nbsp;18207 | Rockwell Automation Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6534128 |
| 217515 | RTX Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41958643 |
| &nbsp;&nbsp;84654 | Smurfit WestRock PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3373462 |
| &nbsp;&nbsp;&nbsp;&nbsp;8272 | Snap-on Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3004556 |
| &nbsp;&nbsp;24999 | Stanley Black & Decker Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1776429 |
| &nbsp;&nbsp;47550 | TE Connectivity PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9938901 |
| &nbsp;&nbsp;&nbsp;&nbsp;7640 | Teledyne Technologies Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4622276 |
| &nbsp;&nbsp;28222 | Textron Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2471118 |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER S&P 500® 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;&nbsp;&nbsp;35866 | Trane Technologies PLC | &nbsp;&nbsp;&nbsp;$14946797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9151 | TransDigm Group Inc | &nbsp;&nbsp;&nbsp;&nbsp; 10605643 |
| &nbsp;&nbsp;&nbsp;&nbsp;38554 | Trimble Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 2514877 |
| &nbsp;&nbsp;&nbsp;&nbsp;96157 | Union Pacific Corp | &nbsp;&nbsp;&nbsp;&nbsp; 23329611 |
| &nbsp;&nbsp;&nbsp;119751 | United Parcel Service Inc Class B | &nbsp;&nbsp;&nbsp;&nbsp; 11781103 |
| &nbsp;&nbsp;&nbsp;&nbsp;40236 | Veralto Corp | &nbsp;&nbsp;&nbsp;&nbsp; 3557667 |
| &nbsp;&nbsp;&nbsp;&nbsp;61992 | Vertiv Holdings Co Class A | &nbsp;&nbsp;&nbsp;&nbsp; 15533955 |
| &nbsp;&nbsp;&nbsp;&nbsp;21411 | Vulcan Materials Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5830215 |
| &nbsp;&nbsp;&nbsp;&nbsp;60131 | Waste Management Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13817503 |
| &nbsp;&nbsp;&nbsp;&nbsp;27675 | Westinghouse Air Brake Technologies Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6916259 |
| &nbsp;&nbsp;&nbsp;&nbsp;39649 | Xylem Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4738055 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778980946 |
| Technology — 30.50% | Technology — 30.50% | Technology — 30.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;99711 | Accenture PLC Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19771694 |
| &nbsp;&nbsp;&nbsp;&nbsp;66522 | Adobe Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16170167 |
| &nbsp;&nbsp;&nbsp;264444 | Advanced Micro Devices Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53795843 |
| &nbsp;&nbsp;&nbsp;&nbsp;24700 | Akamai Technologies Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2836795 |
| &nbsp;&nbsp;&nbsp;&nbsp;79182 | Analog Devices Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25190962 |
| 2380935 | Apple Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604257495 |
| &nbsp;&nbsp;&nbsp;128621 | Applied Materials Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43961372 |
| &nbsp;&nbsp;&nbsp;&nbsp;34355 | Autodesk Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8224587 |
| &nbsp;&nbsp;&nbsp;768920 | Broadcom Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237988429 |
| &nbsp;&nbsp;&nbsp;&nbsp;18605 | Broadridge Financial Solutions Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3022940 |
| &nbsp;&nbsp;&nbsp;&nbsp;44110 | Cadence Design Systems Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12256846 |
| &nbsp;&nbsp;&nbsp;&nbsp;76605 | Cognizant Technology Solutions Corp Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4699717 |
| &nbsp;&nbsp;&nbsp;&nbsp;40852 | Crowdstrike Holdings Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15949030 |
| &nbsp;&nbsp;&nbsp;&nbsp;53197 | Datadog Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6279906 |
| &nbsp;&nbsp;&nbsp;&nbsp;48159 | Dell Technologies Inc Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7904337 |
| &nbsp;&nbsp;&nbsp;&nbsp;36498 | Electronic Arts Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7440847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9163 | EPAM Systems Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1240670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3781 | Fair Isaac Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4036369 |
| &nbsp;&nbsp;&nbsp;&nbsp;83653 | Fidelity National Information Services Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3924162 |
| &nbsp;&nbsp;&nbsp;&nbsp;87485 | Fiserv Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4881663 |
| &nbsp;&nbsp;&nbsp;102431 | Fortinet Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8370661 |
| &nbsp;&nbsp;&nbsp;&nbsp;11281 | Gartner Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1786234 |
| &nbsp;&nbsp;&nbsp;217113 | Hewlett Packard Enterprise Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5169461 |
| &nbsp;&nbsp;&nbsp;149336 | HP Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2868745 |
| &nbsp;&nbsp;&nbsp;760865 | Intel Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33576972 |
| &nbsp;&nbsp;&nbsp;151473 | International Business Machines Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36715541 |
| &nbsp;&nbsp;&nbsp;&nbsp;45094 | Intuit Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19497744 |
| &nbsp;&nbsp;&nbsp;&nbsp;11791 | Jack Henry & Associates Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1863450 |
| &nbsp;&nbsp;&nbsp;&nbsp;21240 | KLA Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31273988 |
| &nbsp;&nbsp;&nbsp;202454 | Lam Research Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43256324 |
| &nbsp;&nbsp;&nbsp;&nbsp;20374 | Leidos Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3168565 |
| &nbsp;&nbsp;&nbsp;&nbsp;11570 | Lumentum Holdings Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8130933 |
| &nbsp;&nbsp;&nbsp;&nbsp;87689 | Microchip Technology Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5665586 |
| &nbsp;&nbsp;&nbsp;182468 | Micron Technology Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61644988 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Technology — (continued) | Technology — (continued) | Technology — (continued) |
| 1204274 | Microsoft Corp | &nbsp;&nbsp;&nbsp;$445786105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7893 | Monolithic Power Systems Inc | &nbsp;&nbsp;&nbsp;&nbsp; 8629812 |
| &nbsp;&nbsp;&nbsp;&nbsp;11906 | MSCI Inc | &nbsp;&nbsp;&nbsp;&nbsp; 6417453 |
| &nbsp;&nbsp;&nbsp;&nbsp;32095 | NetApp Inc | &nbsp;&nbsp;&nbsp;&nbsp; 3286207 |
| 3940790 | NVIDIA Corp | &nbsp;&nbsp;&nbsp;&nbsp; 687273771 |
| &nbsp;&nbsp;&nbsp;&nbsp;40783 | NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp; 8028541 |
| &nbsp;&nbsp;&nbsp;&nbsp;69566 | ON Semiconductor Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 4307527 |
| &nbsp;&nbsp;&nbsp;274787 | Oracle Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40423916 |
| &nbsp;&nbsp;&nbsp;370485 | Palantir Technologies Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54194545 |
| &nbsp;&nbsp;&nbsp;&nbsp;52586 | Paychex Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4844222 |
| &nbsp;&nbsp;&nbsp;&nbsp;19408 | PTC Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2765446 |
| &nbsp;&nbsp;&nbsp;172905 | QUALCOMM Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22266706 |
| &nbsp;&nbsp;&nbsp;&nbsp;17276 | Roper Technologies Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6113285 |
| &nbsp;&nbsp;&nbsp;151839 | Salesforce Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28343786 |
| &nbsp;&nbsp;&nbsp;&nbsp;23918 | Sandisk Corp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15196062 |
| &nbsp;&nbsp;&nbsp;&nbsp;35338 | Seagate Technology Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13844015 |
| &nbsp;&nbsp;&nbsp;169502 | ServiceNow Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17721434 |
| &nbsp;&nbsp;&nbsp;&nbsp;27142 | Skyworks Solutions Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1453454 |
| &nbsp;&nbsp;&nbsp;&nbsp;82653 | Super Micro Computer Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1882009 |
| &nbsp;&nbsp;&nbsp;&nbsp;31002 | Synopsys Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12291673 |
| &nbsp;&nbsp;&nbsp;&nbsp;28260 | Take-Two Interactive Software Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5581350 |
| &nbsp;&nbsp;&nbsp;&nbsp;25378 | Teradyne Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7523562 |
| &nbsp;&nbsp;&nbsp;147066 | Texas Instruments Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28551393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6856 | Tyler Technologies Inc<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2347357 |
| &nbsp;&nbsp;&nbsp;&nbsp;54940 | Western Digital Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14860721 |
| &nbsp;&nbsp;&nbsp;&nbsp;34003 | Workday Inc Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4417670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7839 | Zebra Technologies Corp Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1638978 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2796814023 |
| Utilities — 2.51% | Utilities — 2.51% | Utilities — 2.51% |
| &nbsp;&nbsp;&nbsp;115400 | AES Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1625986 |
| &nbsp;&nbsp;&nbsp;&nbsp;40964 | Alliant Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2939577 |
| &nbsp;&nbsp;&nbsp;&nbsp;44975 | Ameren Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4943652 |
| &nbsp;&nbsp;&nbsp;&nbsp;87646 | American Electric Power Co Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11488638 |
| &nbsp;&nbsp;&nbsp;&nbsp;31629 | American Water Works Co Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4304391 |
| &nbsp;&nbsp;&nbsp;&nbsp;26914 | Atmos Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4971554 |
| &nbsp;&nbsp;&nbsp;104040 | CenterPoint Energy Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4490366 |
| &nbsp;&nbsp;&nbsp;&nbsp;48831 | CMS Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3788309 |
| &nbsp;&nbsp;&nbsp;&nbsp;58728 | Consolidated Edison Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6646835 |
| &nbsp;&nbsp;&nbsp;&nbsp;50677 | Constellation Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14151552 |
| &nbsp;&nbsp;&nbsp;138375 | Dominion Energy Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8554343 |
| &nbsp;&nbsp;&nbsp;&nbsp;34037 | DTE Energy Co | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4976890 |
| &nbsp;&nbsp;&nbsp;126282 | Duke Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16535365 |
| &nbsp;&nbsp;&nbsp;&nbsp;62354 | Edison International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4563066 |
| &nbsp;&nbsp;&nbsp;&nbsp;73301 | Entergy Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8236100 |
| &nbsp;&nbsp;&nbsp;&nbsp;37306 | Evergy Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3056108 |
| &nbsp;&nbsp;&nbsp;&nbsp;59790 | Eversource Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4142251 |
| &nbsp;&nbsp;&nbsp;165758 | Exelon Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8125457 |
| &nbsp;&nbsp;&nbsp;&nbsp;84620 | FirstEnergy Corp<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4286849 |
| &nbsp;&nbsp;&nbsp;337882 | NextEra Energy Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31382480 |
| &nbsp;&nbsp;&nbsp;&nbsp;76257 | NiSource Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3558152 |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER S&P 500® INDEX FUND

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

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Utilities — (continued) | Utilities — (continued) | Utilities — (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34504 | NRG Energy Inc | &nbsp;&nbsp;&nbsp;$5042415 |
| &nbsp;&nbsp;&nbsp;&nbsp;356176 | PG&E Corp | &nbsp;&nbsp;&nbsp;&nbsp; 6258012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19123 | Pinnacle West Capital Corp | &nbsp;&nbsp;&nbsp;&nbsp; 1926642 |
| &nbsp;&nbsp;&nbsp;&nbsp;121324 | PPL Corp | &nbsp;&nbsp;&nbsp;&nbsp; 4634577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80886 | Public Service Enterprise Group Inc | &nbsp;&nbsp;&nbsp;&nbsp; 6547722 |
| &nbsp;&nbsp;&nbsp;&nbsp;105765 | Sempra | &nbsp;&nbsp;&nbsp;&nbsp; 10277185 |
| &nbsp;&nbsp;&nbsp;&nbsp;178927 | Southern Co | &nbsp;&nbsp;&nbsp;&nbsp; 17270034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51611 | Vistra Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7758682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52748 | WEC Energy Group Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6106636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95857 | Xcel Energy Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7614880 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230204706 |
| **TOTAL COMMON STOCK — 98.86%<br> (Cost $5,498,338,045)** | **TOTAL COMMON STOCK — 98.86%<br> (Cost $5,498,338,045)** | &nbsp;&nbsp;&nbsp;**$9065254370** |
| **GOVERNMENT MONEY MARKET MUTUAL FUNDS** | **GOVERNMENT MONEY MARKET MUTUAL FUNDS** | **GOVERNMENT MONEY MARKET MUTUAL FUNDS** |
| 17632186 | Dreyfus Institutional Preferred Government Money Market Fund Institutional Class<sup>(c)</sup>, 3.60%<sup>(d)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17632186 |
| **TOTAL GOVERNMENT MONEY MARKET MUTUAL FUNDS — 0.19%<br> (Cost $17,632,186)** | **TOTAL GOVERNMENT MONEY MARKET MUTUAL FUNDS — 0.19%<br> (Cost $17,632,186)** | &nbsp;&nbsp;&nbsp;&nbsp;**$17632186** |

---

---

| | |
|:---|:---|
| **Principal Amount** | &nbsp;&nbsp;&nbsp;**Fair Value** |
| **SHORT TERM INVESTMENTS** | **SHORT TERM INVESTMENTS** |
| U.S. Treasury Bonds and Notes — 0.90% | U.S. Treasury Bonds and Notes — 0.90% |
| 82702500 U.S. Treasury Bills<sup>(e)</sup><br> 3.62%, 06/04/2026 | &nbsp;&nbsp;&nbsp;$82173348 |
| **TOTAL SHORT TERM INVESTMENTS — 0.90%<br> (Cost $82,173,348)** | &nbsp;&nbsp;&nbsp;&nbsp;**$82173348** |
| **TOTAL INVESTMENTS — 99.95%<br> (Cost $5,598,143,579)** | &nbsp;&nbsp;&nbsp;**$9165059904** |
| **OTHER ASSETS & LIABILITIES, NET — 0.05%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$4846587** |
| **TOTAL NET ASSETS — 100.00%** | &nbsp;&nbsp;&nbsp;**$9169906491** |

---

<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> (Depreciation)** |
| **Long** |  |  |  |  |  |
| S&P 500® Emini Futures | 327 | USD | 107432 | Jun 2026 | $(1847638) |
|  |  |  |  | **Net Depreciation** | **$(1847638)** |

---

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, including Exchange Traded Funds, 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 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, 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 |
| Exchange Traded Funds | Exchange traded close price. |
| 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 |
| Forward Foreign Currency Contracts | Foreign currency spot and forward rates |

---

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, the inputs used to value the investments of the Empower Large Cap Value Fund are detailed in the following table. More information regarding the sector classifications, as applicable, are included in the Schedule of Investments. For the remaining Funds, all the investments were valued using Level 1 inputs, except for Short Term Investments, which were valued using Level 2 inputs.

#### Empower Large Cap Value 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic Materials | &nbsp;&nbsp;&nbsp;&nbsp;$54194121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$54194121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communications | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198305683 | &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;198305683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer, Cyclical | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134526299 | &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;134526299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer, Non-cyclical | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406165607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37236613 | &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;443402220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151685006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38206700 | &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;189891706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457330554 | &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;457330554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251097131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11821914 | &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;262919045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143567294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19626716 | &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;163194010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109198026 | &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;109198026 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1906069721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106891943 | &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;2012961664 |
| 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;2863368 | &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;2863368 |
| 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;4746024 | &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;4746024 |
| Exchange Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9872836 | &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;9872836 |
| Government Money Market Mutual Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21190572 | &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;21190572 |
| Total investments, at fair value: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1937133129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114501335 | &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;2051634464 |

---

------

*March 31, 2026*

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total** |
| **Other Financial Investments:** |  |  |  |  |
| Forward Foreign Currency Contracts<sup>(a)</sup> | &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;124780 | &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;124780 |
| Total Assets | &nbsp;&nbsp;$1937133129 | &nbsp;&nbsp;&nbsp;&nbsp;$114626115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$2051759244 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Liabilities** |  |  |  |  |
| **Other Financial Investments** |  |  |  |  |
| Forward Foreign Currency Contracts<sup>(a)</sup> | &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;(122893) | &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;(122893) |
| Total Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(122893) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(122893) |

---

<sup>(a)</sup> Forward Foreign Currency Contracts are reported at the security's unrealized appreciation/(depreciation), which represents the change in the contract's value from trade date

<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.

<u>Forward Foreign Currency Contracts</u>

A Fund may enter into OTC forward foreign currency contracts (forward contracts) primarily to capture potential returns from changes in currency exchange rates or to reduce the risk of undesired currency exposure. A forward contract is a commitment to purchase or sell a foreign currency at a future date at a negotiated rate.

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

---

| | |
|:---|:---|
| Empower Large Cap Value Fund |  |
| Forward Currency Exchange Contracts: |  |
| &nbsp;&nbsp;&nbsp;Average notional amount | &nbsp;&nbsp;$48503946 |

---

---

| | |
|:---|:---|
| Empower S&P 500® 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;519 |
| &nbsp;&nbsp;&nbsp;Average notional long | &nbsp;&nbsp;$177768388 |

---

------

*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 500 Index Fund

- **b. EDGAR series identifier (if any):** S000023743

- **c. LEI of Series:** INIPZN4RQY84FH4FJD10

**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:** $9186655872.48

**Total Liabilities:** $18846260.25

**Net Assets:** $9167809612.23

**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 C000069820 | 1.41%                | -0.79%               | -5.02%               |
| Class ID C000155769 | 1.51%                | -0.84%               | -4.98%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-452461.57              | $123829360.17                              |
| Month 2  | $-845862.52              | $-79562211.00                              |
| Month 3  | $-7456853.14             | $-462772260.00                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHICAGO MERCANTILE EXCHANGE                    | E-mini S&P 500 Futures,Jun-2026,ETH                            | CUSIP: 00002ESM6<br>LEI: SNZ2OJLFK8MNNCLQOF39 | Long             | DE               | CORP              | US        |       327 | NC      | $-1847637.50  | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                       | AT&T Inc COM                                                   | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |   1134431 | NS      | $32887155.60  | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Align Technology Inc.                          | Align Technology Inc. COM USD0.0001                            | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |     11854 | NS      | $2032131.21   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Palantir Technologies Inc                      | Palantir Technologies Inc CL A                                 | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |    370485 | NS      | $54194545.50  | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| The Procter & Gamble Co.                       | The Procter & Gamble Co. COM                                   | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |    376981 | NS      | $54451134.90  | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| The Progressive Corporation                    | The Progressive Corporation COM                                | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     94976 | NS      | $18828042.02  | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Public Service Enterprise Group Incorporated   | Public Service Enterprise Group Incorporated COM               | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |     80886 | NS      | $6547721.83   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| APA Corp.                                      | APA Corp. COM                                                  | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |     57154 | NS      | $2425615.66   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CF Industries Holdings, Inc.                   | CF Industries Holdings, Inc. COM USD0.01                       | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     25302 | NS      | $3285211.74   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Ametek, Inc.                                   | Ametek, Inc. COM                                               | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |     37422 | NS      | $8021779.97   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Amgen Inc.                                     | Amgen Inc. COM                                                 | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     87260 | NS      | $30702430.92  | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Cadence Design Systems, Inc.                   | Cadence Design Systems, Inc. COM USD0.01                       | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     44110 | NS      | $12256845.90  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Camden Property Trust                          | Camden Property Trust SH BEN INT                               | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     16060 | NS      | $1568419.62   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Alliant Energy Corporation                     | Alliant Energy Corporation COM                                 | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |     40964 | NS      | $2939576.64   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Apollo Global Management Inc                   | Apollo Global Management Inc COM                               | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |     75246 | NS      | $8383909.44   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Biogen Inc                                     | Biogen Inc COM                                                 | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |     23388 | NS      | $4287721.99   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Cboe Global Markets Inc                        | Cboe Global Markets Inc COM USD0.01                            | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |     17029 | NS      | $4786340.97   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Public Storage                                 | Public Storage COM                                             | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |     25596 | NS      | $6933444.52   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Pulte Group Inc                                | Pulte Group Inc COM                                            | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31447 | NS      | $3698481.69   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| The Campbells Co.                              | The Campbells Co. COM                                          | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | EC               | CORP              | US        |     35429 | NS      | $789003.83    | 0.01%             |  |  |  | No            |                  2 | On Loan: —       |
| Capital One Financial Corp.                    | Capital One Financial Corp. COM                                | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |    101297 | NS      | $18479611.35  | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Cardinal Health, Inc.                          | Cardinal Health, Inc. COM                                      | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |     38133 | NS      | $8057884.20   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Dollar Tree Inc                                | Dollar Tree Inc COM                                            | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |     30046 | NS      | $3290337.48   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| F5 Inc                                         | F5 Inc COM STK NPV                                             | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |      9160 | NS      | $2650262.82   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Godaddy Inc                                    | Godaddy Inc CL A                                               | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |     21199 | NS      | $1752521.38   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Analog Devices Inc.                            | Analog Devices Inc. COM USD0.16 2/3                            | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     79182 | NS      | $25190962.04  | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Apple Inc.                                     | Apple Inc. COM                                                 | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |   2380935 | NS      | $604257494.75 | 6.59%             |  |  |  | No            |                  2 | On Loan: No      |
| QUALCOMM Inc.                                  | QUALCOMM Inc. COM                                              | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |    172905 | NS      | $22266706.00  | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Quest Diagnostics Incorporated                 | Quest Diagnostics Incorporated COM                             | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |     17825 | NS      | $3493343.51   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| CME Group Inc.                                 | CME Group Inc. COM                                             | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |     58435 | NS      | $17258777.38  | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Coherent Corp                                  | Coherent Corp COM                                              | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |     30382 | NS      | $7237296.05   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Coinbase Global Inc                            | Coinbase Global Inc COM CL A                                   | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |     36263 | NS      | $6331882.59   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Constellation Energy Corp.                     | Constellation Energy Corp. COM                                 | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |     50677 | NS      | $14151552.50  | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| D.R. Horton, Inc.                              | D.R. Horton, Inc. COM                                          | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |     43660 | NS      | $5991025.18   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| DTE Energy Co.                                 | DTE Energy Co. COM                                             | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |     34037 | NS      | $4976890.16   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Applied Materials Inc.                         | Applied Materials Inc. COM                                     | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |    128621 | NS      | $43961372.06  | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Archer-Daniels-Midland Co.                     | Archer-Daniels-Midland Co. COM                                 | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |     77982 | NS      | $5668511.53   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                           | JPMorgan Chase & Co. COM USD1.00                               | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    437327 | NS      | $128644110.50 | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp                           | Las Vegas Sands Corp COM                                       | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |     48994 | NS      | $2639796.71   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Ralph Lauren Corp.                             | Ralph Lauren Corp. CL A                                        | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |      7122 | NS      | $2449896.82   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Raymond James Financial Inc.                   | Raymond James Financial Inc. COM                               | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |     28640 | NS      | $4146785.69   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Realty Income Corporation                      | Realty Income Corporation COM                                  | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |    149069 | NS      | $9120041.40   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                  | Alphabet Inc. CAP STK CL A                                     | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    944167 | NS      | $271504661.50 | 2.96%             |  |  |  | No            |                  2 | On Loan: No      |
| American International Group Inc.              | American International Group Inc. COM NEW                      | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |     86949 | NS      | $6542912.25   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp.                          | Bank of America Corp. COM                                      | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |   1075952 | NS      | $52452660.00  | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Blackstone Inc                                 | Blackstone Inc COM                                             | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |    121324 | NS      | $13951047.13  | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Company                   | Bristol-Myers Squibb Company COM                               | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    330007 | NS      | $20014924.36  | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Broadcom Inc                                   | Broadcom Inc COM                                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    768920 | NS      | $237988428.75 | 2.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Danaher Corporation                            | Danaher Corporation COM                                        | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |    101952 | NS      | $19330099.29  | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Darden Restaurants, Inc.                       | Darden Restaurants, Inc. COM                                   | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |     18664 | NS      | $3658890.57   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Deckers Outdoor Corp.                          | Deckers Outdoor Corp. COM                                      | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |     22621 | NS      | $2264135.91   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Evergy Inc                                     | Evergy Inc COM                                                 | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |     37306 | NS      | $3056107.51   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Home Depot Inc.                                | Home Depot Inc. COM                                            | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |    161321 | NS      | $53056864.19  | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Hormel Foods Corp                              | Hormel Foods Corp COM                                          | CUSIP: 440452100<br>LEI: MSD54751OJP1FS2ND863 | Long             | EC               | CORP              | US        |     52384 | NS      | $1186497.60   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Humana Inc.                                    | Humana Inc. COM                                                | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     19542 | NS      | $3388387.37   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| J. B. Hunt Transport Services, Inc.            | J. B. Hunt Transport Services, Inc. COM                        | CUSIP: 445658107<br>LEI: 549300XCD1MPI1C5GK90 | Long             | EC               | CORP              | US        |     12148 | NS      | $2574161.23   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Huntington Bancshares Incorporated             | Huntington Bancshares Incorporated COM                         | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |    328924 | NS      | $5147660.54   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Idex Corporation                               | Idex Corporation COM                                           | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               | CORP              | US        |     12130 | NS      | $2299241.50   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| IDEXX Laboratories Inc.                        | IDEXX Laboratories Inc. COM                                    | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |     12940 | NS      | $7270856.59   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Illinois Tool Works Inc.                       | Illinois Tool Works Inc. COM                                   | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |     42500 | NS      | $11062325.07  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Altria Group, Inc.                             | Altria Group, Inc. COM USD0.333333                             | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |    272026 | NS      | $17950995.85  | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Atmos Energy Corp.                             | Atmos Energy Corp. COM                                         | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |     26914 | NS      | $4971554.06   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Autodesk Inc                                   | Autodesk Inc COM                                               | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |     34355 | NS      | $8224587.00   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Incyte Corporation.                            | Incyte Corporation. COM                                        | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |     27090 | NS      | $2549710.83   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Intel Corporation                              | Intel Corporation COM                                          | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |    760865 | NS      | $33576972.48  | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Automatic Data Processing, Inc.                | Automatic Data Processing, Inc. COM                            | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |     65248 | NS      | $13257088.60  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Autozone, Inc.                                 | Autozone, Inc. COM                                             | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |      2685 | NS      | $9069339.36   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| AvalonBay Communities, Inc.                    | AvalonBay Communities, Inc. COM                                | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |     22565 | NS      | $3685992.72   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Avery Dennison Corporation                     | Avery Dennison Corporation COM                                 | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               | CORP              | US        |     12526 | NS      | $2162989.64   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Axon Enterprise Inc                            | Axon Enterprise Inc COM                                        | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |     12794 | NS      | $5433483.88   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Ball Corporation                               | Ball Corporation COM                                           | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | EC               | CORP              | US        |     47666 | NS      | $2817537.25   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Lennox International Inc.                      | Lennox International Inc. COM                                  | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |      5086 | NS      | $2360565.25   | 0.03%             |  |  |  | No            |                  2 | On Loan: —       |
| Merck & Co., Inc                               | Merck & Co., Inc COM                                           | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    402207 | NS      | $48381479.81  | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Baxter International, Inc.                     | Baxter International, Inc. COM                                 | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |     77558 | NS      | $1302974.39   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Becton, Dickinson and Company                  | Becton, Dickinson and Company COM                              | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |     46087 | NS      | $7246259.06   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| W.R. Berkley Corporation                       | W.R. Berkley Corporation COM                                   | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |     48283 | NS      | $3200197.22   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Inc.                        | Berkshire Hathaway Inc. CL B NEW                               | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |    297382 | NS      | $142505453.13 | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Best Buy Co Inc.                               | Best Buy Co Inc. COM                                           | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |     31054 | NS      | $1993666.78   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Boeing Co.                                     | Boeing Co. COM                                                 | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |    127264 | NS      | $25329353.64  | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| BXP Inc                                        | BXP Inc COM                                                    | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |     25123 | NS      | $1303883.69   | 0.01%             |  |  |  | No            |                  2 | On Loan: —       |
| Boston Scientific Corporation                  | Boston Scientific Corporation COM                              | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |    240321 | NS      | $15080142.75  | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Broadridge Financial Solutions Inc.            | Broadridge Financial Solutions Inc. COM                        | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |     18605 | NS      | $3022940.39   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Builders Firstsource, Inc.                     | Builders Firstsource, Inc. COM USD0.01                         | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |     18002 | NS      | $1482104.69   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Constellation Brands, Inc.                     | Constellation Brands, Inc. COM USD0.01 CLASS A                 | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |     22383 | NS      | $3357450.00   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| DoorDash Inc                                   | DoorDash Inc CL A                                              | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |     60579 | NS      | $9095936.75   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Ecolab Inc.                                    | Ecolab Inc. COM                                                | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |     41309 | NS      | $10989020.16  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Edison International                           | Edison International COM                                       | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |     62354 | NS      | $4563065.71   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Edwards Lifesciences Corporation               | Edwards Lifesciences Corporation COM USD1                      | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |     92981 | NS      | $7445918.43   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Equinix, Inc.                                  | Equinix, Inc. COM                                              | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |     15923 | NS      | $15608361.68  | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Phillips 66                                    | Phillips 66 COM                                                | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     65292 | NS      | $11894896.52  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Synchrony Financial                            | Synchrony Financial COM                                        | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |     56327 | NS      | $3831362.47   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Essex Property Trust, Inc.                     | Essex Property Trust, Inc. COM                                 | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |     10461 | NS      | $2531562.00   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Expedia Group Inc                              | Expedia Group Inc COM NEW                                      | CUSIP: 30212P303<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | EC               | CORP              | US        |     18962 | NS      | $4378136.25   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Tesla Inc                                      | Tesla Inc COM                                                  | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |    456006 | NS      | $169520234.75 | 1.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Workday Inc                                    | Workday Inc CL A                                               | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |     34003 | NS      | $4417669.72   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                             | Meta Platforms Inc CL A                                        | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    354705 | NS      | $202937372.88 | 2.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Jacobs Solutions Inc.                          | Jacobs Solutions Inc. COM                                      | CUSIP: 46982L108<br>LEI: 254900E3KHXCC2C8K272 | Long             | EC               | CORP              | US        |     19033 | NS      | $2422520.28   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco Ltd                                    | Invesco Ltd COM STK USD0.20                                    | CUSIP: G491BT108<br>LEI: ECPGFXU8A2SHKVVGJI15 | Long             | EC               | CORP              | BM        |     72465 | NS      | $1760174.85   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| KKR & Co Inc.                                  | KKR & Co Inc. COM                                              | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |    111233 | NS      | $10289052.50  | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Leidos Holdings Inc                            | Leidos Holdings Inc COM USD0.0001                              | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     20374 | NS      | $3168564.50   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Marathon Petroleum Corp.                       | Marathon Petroleum Corp. COM USD0.01                           | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     47804 | NS      | $11672780.97  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Marsh & McLennan Companies, Inc.               | Marsh & McLennan Companies, Inc. COM                           | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |     78451 | NS      | $13607325.76  | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                   | Marriott International, Inc. CL A                              | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |     35640 | NS      | $11656774.97  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Martin Marietta Materials Inc                  | Martin Marietta Materials Inc COM                              | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |      9783 | NS      | $5759056.49   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Masco Corporation                              | Masco Corporation COM                                          | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |     31760 | NS      | $1917351.22   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| McCormick & Company, Incorporated              | McCormick & Company, Incorporated COM NON VTG                  | CUSIP: 579780206<br>LEI: 549300JQQA6MQ4OJP259 | Long             | EC               | CORP              | US        |     41093 | NS      | $2072730.89   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| McDonald's Corp.                               | McDonald's Corp. COM                                           | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |    115403 | NS      | $35866098.38  | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Mettler-Toledo International Inc               | Mettler-Toledo International Inc COM                           | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |      3447 | NS      | $4347356.52   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Microsoft Corp.                                | Microsoft Corp. COM                                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |   1204274 | NS      | $445786105.31 | 4.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Microchip Technology Incorporated              | Microchip Technology Incorporated COM                          | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     87689 | NS      | $5665586.30   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Brown-Forman Corp.                             | Brown-Forman Corp. CL B                                        | CUSIP: 115637209<br>LEI: 549300873K3LXF7ARU34 | Long             | EC               | CORP              | US        |     27229 | NS      | $719934.76    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| C.H. Robinson Worldwide Inc                    | C.H. Robinson Worldwide Inc COM NEW                            | CUSIP: 12541W209<br>LEI: 529900WNWN5L0OVDHA79 | Long             | EC               | CORP              | US        |     19223 | NS      | $3192363.65   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Carvana Co                                     | Carvana Co CL A                                                | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |     22918 | NS      | $7204960.63   | 0.08%             |  |  |  | No            |                  2 | On Loan: —       |
| Centerpoint Energy Inc                         | Centerpoint Energy Inc COM STK USD0.01                         | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |    104040 | NS      | $4490366.39   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Expand Energy Corp.                            | Expand Energy Corp. COM                                        | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     37955 | NS      | $4166700.00   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Chevron Corp.                                  | Chevron Corp. COM USD0.75                                      | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    304038 | NS      | $62905461.82  | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Ciena Corporation                              | Ciena Corporation COM NEW                                      | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |     22826 | NS      | $8861738.17   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Comcast Corporation                            | Comcast Corporation COM USD0.01 CL A                           | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    581494 | NS      | $16694692.51  | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Blackrock Inc.                                 | Blackrock Inc. COM                                             | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |     23382 | NS      | $22486703.10  | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Carnival Corporation                           | Carnival Corporation UNITS (COMPR 1 COM & 1 TR                 | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | PA        |    183283 | NS      | $4743364.07   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Cognizant Technology Solutions Corp.           | Cognizant Technology Solutions Corp. COM CL A USD0.01          | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |     76605 | NS      | $4699716.76   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Comfort Systems USA Inc.                       | Comfort Systems USA Inc. COM                                   | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      5703 | NS      | $7864380.05   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| International Business Machines Corp.          | International Business Machines Corp. COM                      | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |    151473 | NS      | $36715540.69  | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| International Flavors & Fragrances Inc.        | International Flavors & Fragrances Inc. COM                    | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |     40645 | NS      | $2948794.77   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Datadog Inc                                    | Datadog Inc CL A COM                                           | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |     53197 | NS      | $6279905.65   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Dell Technologies Inc                          | Dell Technologies Inc CL C                                     | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |     48159 | NS      | $7904336.70   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| International Paper Co.                        | International Paper Co. COM                                    | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |     84147 | NS      | $3004047.89   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Intuit Inc                                     | Intuit Inc COM                                                 | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |     45094 | NS      | $19497743.79  | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Dow Inc                                        | Dow Inc COM                                                    | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |    116955 | NS      | $4871175.71   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| HP Inc                                         | HP Inc COM                                                     | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |    149336 | NS      | $2868744.54   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Jabil Inc                                      | Jabil Inc COM                                                  | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     18224 | NS      | $4840841.06   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Molson Coors Beverage Company                  | Molson Coors Beverage Company CL B                             | CUSIP: 60871R209<br>LEI: 54930073LBBH6ZCBE225 | Long             | EC               | CORP              | US        |     26968 | NS      | $1161242.09   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| NextEra Energy Inc                             | NextEra Energy Inc COM                                         | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |    337882 | NS      | $31382480.19  | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Regency Centers Corp.                          | Regency Centers Corp. COM                                      | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |     26966 | NS      | $2040247.59   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper Inc                           | Keurig Dr Pepper Inc COM                                       | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |    219920 | NS      | $5790493.69   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Labcorp Holdings Inc                           | Labcorp Holdings Inc COM SHS                                   | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13210 | NS      | $3524560.07   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Teledyne Technologies Inc                      | Teledyne Technologies Inc COM USD0.01                          | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |      7640 | NS      | $4622276.41   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Travelers Companies, Inc.                      | Travelers Companies, Inc. COM NPV                              | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |     35040 | NS      | $10220467.10  | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| UDR Inc                                        | UDR Inc COM                                                    | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |     47801 | NS      | $1614717.78   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                    | Verizon Communications Inc. COM USD0.10                        | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    683356 | NS      | $34304470.83  | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| MetLife Inc.                                   | MetLife Inc. COM USD0.01                                       | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |     89199 | NS      | $6308153.35   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Otis Worldwide Corp.                           | Otis Worldwide Corp. COM                                       | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |     62991 | NS      | $4855346.31   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Western Digital Corp.                          | Western Digital Corp. COM                                      | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |     54940 | NS      | $14860720.67  | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Yum! Brands Inc.                               | Yum! Brands Inc. COM NPV                                       | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |     44843 | NS      | $6972189.57   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Pool Corporation                               | Pool Corporation COM                                           | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |      6328 | NS      | $1280344.26   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SBA Communications Corp.                       | SBA Communications Corp. CL A                                  | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |     17947 | NS      | $3088858.17   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Arch Capital Group Ltd.                        | Arch Capital Group Ltd. COM USD0.01                            | CUSIP: G0450A105<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |     58209 | NS      | $5587481.72   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Seagate Technology Holdings PLC                | Seagate Technology Holdings PLC ORD SHS                        | CUSIP: G7997R103<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | IE        |     35338 | NS      | $13844014.76  | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Skyworks Solutions, Inc.                       | Skyworks Solutions, Inc. COM                                   | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               | CORP              | US        |     27142 | NS      | $1453454.10   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Medtronic PLC                                  | Medtronic PLC USD0.0001                                        | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |    207747 | NS      | $18001277.64  | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Smurfit WestRock plc                           | Smurfit WestRock plc COM USD0.001                              | CUSIP: G8267P108<br>LEI: 635400EGSEOPDW2EXS14 | Long             | EC               | CORP              | IE        |     84654 | NS      | $3373461.96   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| NXP Semiconductors NV                          | NXP Semiconductors NV EUR0.20                                  | CUSIP: N6596X109<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |     40783 | NS      | $8028541.28   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Micron Technology Inc.                         | Micron Technology Inc. COM                                     | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |    182468 | NS      | $61644988.39  | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Mid-America Apartment Communities, Inc.        | Mid-America Apartment Communities, Inc. COM                    | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |     18629 | NS      | $2274973.47   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley                                 | Morgan Stanley COM NEW                                         | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |    195034 | NS      | $32096745.58  | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| NVR Inc                                        | NVR Inc COM                                                    | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |       445 | NS      | $2932474.33   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Abiomed Inc                                    | Abiomed Inc USD0.01 SUBS RTS                                   | CUSIP: 003CVR016<br>LEI: 5493001EZN4ZTB4Z5887 | Long             | EC               | CORP              | US        |      5206 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Airbnb Inc                                     | Airbnb Inc COM CL A                                            | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |     68154 | NS      | $8606487.00   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Newmont Corporation                            | Newmont Corporation COM                                        | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |    176837 | NS      | $19142605.50  | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Stanley Black & Decker, Inc.                   | Stanley Black & Decker, Inc. COM                               | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |     24999 | NS      | $1776428.96   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Targa Resources Corp.                          | Targa Resources Corp. COM                                      | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |     34785 | NS      | $8721643.12   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Transdigm Group Inc.                           | Transdigm Group Inc. COM                                       | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9151 | NS      | $10605642.98  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Ameriprise Financial, Inc.                     | Ameriprise Financial, Inc. COM                                 | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |     14795 | NS      | $6574897.86   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Bio-Techne Corp                                | Bio-Techne Corp COM                                            | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |     24030 | NS      | $1255807.84   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Viatris Inc                                    | Viatris Inc COM                                                | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |    202750 | NS      | $2739152.37   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Zoetis Inc.                                    | Zoetis Inc. CL A                                               | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     70660 | NS      | $8352718.56   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Aon PLC                                        | Aon PLC SHS CL A                                               | CUSIP: G0403H108<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | IE        |     34760 | NS      | $11219832.85  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| CRH PLC                                        | CRH PLC ORD EUR 0.32                                           | CUSIP: G25508105<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | IE        |    108617 | NS      | $11417818.71  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Eaton Corporation PLC                          | Eaton Corporation PLC COM USD0.01                              | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |     62940 | NS      | $22511749.94  | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| ConocoPhillips                                 | ConocoPhillips COM USD0.01                                     | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |    198537 | NS      | $26206883.75  | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| The Cooper Companies, Inc.                     | The Cooper Companies, Inc. COM                                 | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |     31032 | NS      | $2218788.00   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Corpay Inc                                     | Corpay Inc COM SHS                                             | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |     11109 | NS      | $3232607.82   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Costar Group Inc                               | Costar Group Inc COM USD0.01                                   | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |     68294 | NS      | $2754979.91   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Booking Holdings Inc                           | Booking Holdings Inc COM                                       | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      5224 | NS      | $21994711.97  | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| CDW Corp                                       | CDW Corp COM                                                   | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |     20748 | NS      | $2510923.00   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| The Cigna Group                                | The Cigna Group COM                                            | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     42693 | NS      | $11388358.00  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Coca-Cola Co (The)                             | Coca-Cola Co (The) COM                                         | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    627361 | NS      | $47710804.63  | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Copart Inc                                     | Copart Inc COM                                                 | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |    144966 | NS      | $4812871.23   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Corning Incorporated                           | Corning Incorporated COM                                       | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |    126517 | NS      | $17202516.76  | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Crowdstrike Holdings Inc                       | Crowdstrike Holdings Inc COM USD0.0005 CL A                    | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |     40852 | NS      | $15949029.63  | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Digital Realty Trust Inc.                      | Digital Realty Trust Inc. COM                                  | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     52333 | NS      | $9430929.85   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Electronic Arts Inc.                           | Electronic Arts Inc. COM                                       | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |     36498 | NS      | $7440847.27   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| EPAM Systems Inc.                              | EPAM Systems Inc. COM                                          | CUSIP: 29414B104<br>LEI: 549300XCR4R530HJP604 | Long             | EC               | CORP              | US        |      9163 | NS      | $1240670.22   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                              | Exxon Mobil Corp. COM NPV                                      | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    677605 | NS      | $114962464.00 | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| FedEx Corporation                              | FedEx Corporation COM USD0.10                                  | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |     35054 | NS      | $12485533.65  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Fidelity National Information Services Inc     | Fidelity National Information Services Inc COM                 | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |     83653 | NS      | $3924162.21   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Fox Corporation                                | Fox Corporation CL B COM                                       | CUSIP: 35137L204<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |     22729 | NS      | $1206909.89   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.          | Alexandria Real Estate Equities, Inc. COM USD0.01              | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |     24249 | NS      | $1125638.57   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Assurant Inc.                                  | Assurant Inc. COM                                              | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |      8138 | NS      | $1772537.82   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Waste Management, Inc.                         | Waste Management, Inc. COM                                     | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |     60131 | NS      | $13817502.54  | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Waters Corporation                             | Waters Corporation COM                                         | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |     15584 | NS      | $4640915.22   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Johnson Controls International PLC             | Johnson Controls International PLC SHS                         | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | IE        |     99185 | NS      | $12988275.94  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| American Water Works Company, Inc.             | American Water Works Company, Inc. COM                         | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |     31629 | NS      | $4304390.58   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| CBRE Group Inc.                                | CBRE Group Inc. CL A                                           | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     47086 | NS      | $6378269.52   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Centene Corp.                                  | Centene Corp. COM USD0.001                                     | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |     75704 | NS      | $2478548.98   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Charles River Laboratories International, Inc. | Charles River Laboratories International, Inc. COM STK USD0.01 | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |      7955 | NS      | $1372237.50   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Charter Communications, Inc.                   | Charter Communications, Inc. CL A                              | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |     14321 | NS      | $3091617.46   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Chipotle Mexican Grill Inc                     | Chipotle Mexican Grill Inc COM                                 | CUSIP: 169656105<br>LEI: 529900REP5VGTPCP1J71 | Long             | EC               | CORP              | US        |    211616 | NS      | $6773828.13   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Cintas Corporation                             | Cintas Corporation COM                                         | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55082 | NS      | $9316569.35   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Citizens Financial Group Inc                   | Citizens Financial Group Inc COM                               | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     69340 | NS      | $4158319.86   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| The Clorox Company                             | The Clorox Company COM                                         | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Long             | EC               | CORP              | US        |     19269 | NS      | $1996846.50   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Corteva Inc                                    | Corteva Inc COM                                                | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |    109371 | NS      | $9155446.29   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| DexCom Inc                                     | DexCom Inc COM USD0.001                                        | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |     64165 | NS      | $4029562.06   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Dominos Pizza Inc.                             | Dominos Pizza Inc. COM                                         | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |      5148 | NS      | $1847050.97   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Exelon Corp.                                   | Exelon Corp. COM NPV                                           | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |    165758 | NS      | $8125457.05   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Expeditors International Of Washington Inc.    | Expeditors International Of Washington Inc. COM                | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |     21781 | NS      | $3119692.68   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Extra Space Storage Inc.                       | Extra Space Storage Inc. COM USD0.01                           | CUSIP: 30225T102<br>LEI: 529900SDJHKRQWED6A16 | Long             | EC               | CORP              | US        |     33824 | NS      | $4435341.10   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| FactSet Research Systems Inc.                  | FactSet Research Systems Inc. COM                              | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | EC               | CORP              | US        |      6150 | NS      | $1334488.52   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Fair Isaac Corporation                         | Fair Isaac Corporation COM                                     | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |      3781 | NS      | $4036368.78   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Ford Motor Company                             | Ford Motor Company COM USD0.01                                 | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |    635006 | NS      | $7327969.46   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Fox Corporation                                | Fox Corporation CL A COM                                       | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |     33852 | NS      | $1976956.74   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc.                          | Freeport-McMoRan Inc. CL B                                     | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    232896 | NS      | $13689626.95  | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| GE Healthcare Technologies Inc.                | GE Healthcare Technologies Inc. COMMON STOCK                   | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |     73854 | NS      | $5256927.61   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Gallagher Aj &Co                               | Gallagher Aj &Co COM                                           | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |     41643 | NS      | $9019041.04   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Gartner Inc.                                   | Gartner Inc. COM                                               | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |     11281 | NS      | $1786233.52   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| General Dynamics Corporation                   | General Dynamics Corporation COM                               | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |     41126 | NS      | $14115266.02  | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| General Mills, Inc.                            | General Mills, Inc. COM                                        | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     85031 | NS      | $3164853.82   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Genuine Parts Co                               | Genuine Parts Co COM                                           | CUSIP: 372460105<br>LEI: 549300D46DQVEU651W04 | Long             | EC               | CORP              | US        |     21762 | NS      | $2301331.50   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc.                           | Gilead Sciences Inc. COM                                       | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |    201050 | NS      | $28020338.63  | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Globe Life Inc                                 | Globe Life Inc COM                                             | CUSIP: 37959E102<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EC               | CORP              | US        |     12686 | NS      | $1765510.63   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| W.w. Grainger Inc.                             | W.w. Grainger Inc. COM                                         | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |      7089 | NS      | $7732752.18   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Cummins Inc.                                   | Cummins Inc. COM                                               | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |     22390 | NS      | $12046267.86  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Diamondback Energy Inc                         | Diamondback Energy Inc COM                                     | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     30181 | NS      | $5969500.01   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Walt Disney Company                            | Walt Disney Company COM                                        | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |    287071 | NS      | $27667903.23  | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Dover Corporation                              | Dover Corporation COM                                          | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |     23296 | NS      | $4856051.26   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Duke Energy Corp                               | Duke Energy Corp COM NEW                                       | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |    126282 | NS      | $16535365.14  | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| EchoStar Corp.                                 | EchoStar Corp. CL A                                            | CUSIP: 278768106<br>LEI: 549300EE20907QZ9GT38 | Long             | EC               | CORP              | US        |     21452 | NS      | $2511385.75   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Emerson Electric Co.                           | Emerson Electric Co. COM                                       | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |     91072 | NS      | $11932253.54  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Entergy Corporation                            | Entergy Corporation COM                                        | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |     73301 | NS      | $8236100.50   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Equifax Inc.                                   | Equifax Inc. COM                                               | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |     19187 | NS      | $3455003.08   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Equity Residential                             | Equity Residential SH BEN INT                                  | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |     55817 | NS      | $3301575.53   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Generac Holdings Inc.                          | Generac Holdings Inc. COM                                      | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |      9240 | NS      | $1804849.23   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Global Payments Inc                            | Global Payments Inc COM NPV                                    | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |     39308 | NS      | $2645428.32   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Hilton Worldwide Holdings Inc                  | Hilton Worldwide Holdings Inc COM                              | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |     37660 | NS      | $11451652.76  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| News Corporation                               | News Corporation CL A                                          | CUSIP: 65249B109<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |     65325 | NS      | $1628552.28   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Erie Indemnity Co                              | Erie Indemnity Co CL A                                         | CUSIP: 29530P102<br>LEI: 549300WA5KP94KRUFZ80 | Long             | EC               | CORP              | US        |      4049 | NS      | $1017554.20   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GE Aerospace                                   | GE Aerospace COM NEW                                           | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |    169959 | NS      | $48229264.63  | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| O'Reilly Automotive Inc.                       | O'Reilly Automotive Inc. COM                                   | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |    136429 | NS      | $12593760.97  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| PPL Corporation                                | PPL Corporation COM USD0.01                                    | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |    121324 | NS      | $4634576.75   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                      | Goldman Sachs Group, Inc. COM USD0.01                          | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |     48628 | NS      | $41138801.71  | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Halliburton Company                            | Halliburton Company COM                                        | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |    135724 | NS      | $5291878.75   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Revvity Inc                                    | Revvity Inc COM                                                | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |     19666 | NS      | $1722938.27   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Block Inc                                      | Block Inc CL A                                                 | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |     88944 | NS      | $5352650.00   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| The Hartford Insurance Group Inc.              | The Hartford Insurance Group Inc. COM                          | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |     45196 | NS      | $6111855.14   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Hasbro Inc                                     | Hasbro Inc COM                                                 | CUSIP: 418056107<br>LEI: 549300NUB6D2R1ITYR45 | Long             | EC               | CORP              | US        |     21246 | NS      | $1988625.61   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Take-Two Interactive Software Inc.             | Take-Two Interactive Software Inc. COM USD0.01                 | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |     28260 | NS      | $5581350.00   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Tapestry Inc                                   | Tapestry Inc COM                                               | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |     32808 | NS      | $4629536.96   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Henry Jack & Associates Inc.                   | Henry Jack & Associates Inc. COM                               | CUSIP: 426281101<br>LEI: 529900X1QS8C54W0JB21 | Long             | EC               | CORP              | US        |     11791 | NS      | $1863449.66   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Hershey Co. (The)                              | Hershey Co. (The) COM                                          | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |     24011 | NS      | $4991646.84   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Hologic Inc                                    | Hologic Inc COM                                                | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |     36732 | NS      | $2776571.86   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Honeywell International Inc.                   | Honeywell International Inc. COM USD1                          | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |    102883 | NS      | $23254644.68  | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Ingersoll Rand Inc                             | Ingersoll Rand Inc COM                                         | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |     58773 | NS      | $4708892.79   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Insulet Corporation                            | Insulet Corporation COM                                        | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |     11211 | NS      | $2352516.25   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CMS Energy Corporation                         | CMS Energy Corporation COM                                     | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |     48831 | NS      | $3788309.00   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| CSX Corporation                                | CSX Corporation COM                                            | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |    301338 | NS      | $12369924.81  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| CVS Health Corp                                | CVS Health Corp COM                                            | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |    206160 | NS      | $14806411.07  | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Coterra Energy Inc                             | Coterra Energy Inc COM                                         | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |    122937 | NS      | $4320006.12   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Healthpeak Properties Inc                      | Healthpeak Properties Inc COM                                  | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |    112235 | NS      | $1844021.06   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Huntington Ingalls Industries, Inc.            | Huntington Ingalls Industries, Inc. COM                        | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |      6254 | NS      | $2375894.59   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Invitation Homes Inc.                          | Invitation Homes Inc. COM                                      | CUSIP: 46187W107<br>LEI: 984500FE452E665C9F85 | Long             | EC               | CORP              | US        |     91392 | NS      | $2271091.16   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Iron Mountain Inc.                             | Iron Mountain Inc. COM                                         | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |     48135 | NS      | $4916508.92   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Kinder Morgan, Inc.                            | Kinder Morgan, Inc. COM                                        | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |    317256 | NS      | $10637593.49  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| L3 Harris Technologies Inc                     | L3 Harris Technologies Inc COM                                 | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     30266 | NS      | $10446309.86  | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                | Live Nation Entertainment, Inc. COM                            | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |     25247 | NS      | $3850419.98   | 0.04%             |  |  |  | No            |                  2 | On Loan: —       |
| MSCI Inc.                                      | MSCI Inc. COM USD0.01                                          | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |     11906 | NS      | $6417453.20   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Mckesson Corp.                                 | Mckesson Corp. COM                                             | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     19848 | NS      | $17175665.37  | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Mondelez International Inc.                    | Mondelez International Inc. CL A                               | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |    207720 | NS      | $11972980.86  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Monster Beverage Corp                          | Monster Beverage Corp COM                                      | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |    115576 | NS      | $8374636.81   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| NiSource Inc.                                  | NiSource Inc. COM                                              | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |     76257 | NS      | $3558151.67   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| PTC Inc                                        | PTC Inc COM                                                    | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |     19408 | NS      | $2765445.88   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Paypal Holdings Inc.                           | Paypal Holdings Inc. COM                                       | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |    149192 | NS      | $6747954.15   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Principal Financial Group Inc.                 | Principal Financial Group Inc. COM USD0.01                     | CUSIP: 74251V102<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | EC               | CORP              | US        |     32175 | NS      | $2899289.29   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.                | Regeneron Pharmaceuticals, Inc. COM                            | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |     16334 | NS      | $12620301.93  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Trimble Inc                                    | Trimble Inc COM                                                | CUSIP: 896239100<br>LEI: 549300E2MI7NSZFQWS19 | Long             | EC               | CORP              | US        |     38554 | NS      | $2514877.41   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Tyson Foods, Inc.                              | Tyson Foods, Inc. CL A                                         | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |     45708 | NS      | $2928511.61   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Union Pacific Corporation                      | Union Pacific Corporation COM                                  | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     96157 | NS      | $23329611.38  | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| United Rentals, Inc.                           | United Rentals, Inc. COM                                       | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |     10195 | NS      | $7427669.13   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Universal Health Services, Inc.                | Universal Health Services, Inc. CL B                           | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |      8715 | NS      | $1559723.56   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Valero Energy Corp.                            | Valero Energy Corp. COM USD0.01                                | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     49426 | NS      | $12212176.16  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Ventas Inc.                                    | Ventas Inc. COM                                                | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     76967 | NS      | $6294361.16   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Vertex Pharmaceuticals Incorporated            | Vertex Pharmaceuticals Incorporated COM USD0.01                | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |     41160 | NS      | $18379586.47  | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Interactive Brokers Group Inc                  | Interactive Brokers Group Inc COM CL A                         | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     72171 | NS      | $4840508.77   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Intercontinental Exchange Inc                  | Intercontinental Exchange Inc COM                              | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     92027 | NS      | $14474006.67  | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Vistra Corp                                    | Vistra Corp COM                                                | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |     51611 | NS      | $7758681.75   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Vulcan Materials Company                       | Vulcan Materials Company COM                                   | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |     21411 | NS      | $5830215.30   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| IQVIA Holdings Inc.                            | IQVIA Holdings Inc. COM                                        | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |     27484 | NS      | $4687121.30   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Johnson & Johnson                              | Johnson & Johnson COM                                          | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    390724 | NS      | $95508574.44  | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Walmart Inc                                    | Walmart Inc COM                                                | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    710679 | NS      | $88323186.75  | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Willis Towers Watson Public Limited Company    | Willis Towers Watson Public Limited Company COM USD0.000304635 | CUSIP: G96629103<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | IE        |     15491 | NS      | $4503233.72   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| KLA Corp.                                      | KLA Corp. COM NEW                                              | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |     21240 | NS      | $31273988.26  | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| KeyCorp                                        | KeyCorp COM                                                    | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |    149324 | NS      | $2993946.13   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Garmin Ltd                                     | Garmin Ltd COM CHF10.00                                        | CUSIP: H2906T109<br>LEI: 2549001E0HIPIJQ0W046 | Long             | EC               | CORP              | CH        |     26316 | NS      | $6105575.10   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Kimberly-Clark Corporation                     | Kimberly-Clark Corporation COM                                 | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |     53788 | NS      | $5188928.27   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Kimco Realty Corporation                       | Kimco Realty Corporation COM                                   | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |    107413 | NS      | $2413570.09   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Caterpillar Inc                                | Caterpillar Inc COM                                            | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |     75472 | NS      | $53468893.26  | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Davita Inc                                     | Davita Inc COM USD0.001                                        | CUSIP: 23918K108<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | EC               | CORP              | US        |      5992 | NS      | $920910.47    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| The Kroger Co.                                 | The Kroger Co. COM                                             | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |     93324 | NS      | $6752924.62   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| The Estee Lauder Companies Inc.                | The Estee Lauder Companies Inc. CL A                           | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |     39683 | NS      | $2848048.91   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| eBay Inc.                                      | eBay Inc. COM USD0.001                                         | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |     73246 | NS      | $6666850.87   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Eversource Energy                              | Eversource Energy COM                                          | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |     59790 | NS      | $4142251.18   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Lennar Corp.                                   | Lennar Corp. CL A                                              | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |     36127 | NS      | $3137268.69   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Eli Lilly & Co.                                | Eli Lilly & Co. COM                                            | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |    128457 | NS      | $118150895.38 | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| HCA Healthcare Inc                             | HCA Healthcare Inc COM                                         | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |     25571 | NS      | $12101219.82  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Intuitive Surgical Inc.                        | Intuitive Surgical Inc. COM USD0.001                           | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     57549 | NS      | $26529513.52  | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Lockheed Martin Corporation                    | Lockheed Martin Corporation COM                                | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |     32809 | NS      | $19829431.42  | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Loews Corporation                              | Loews Corporation COM                                          | CUSIP: 540424108<br>LEI: R8V1FN4M5ITGZOG7BS19 | Long             | EC               | CORP              | US        |     27703 | NS      | $2957018.21   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Moderna Inc                                    | Moderna Inc COM                                                | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |     57731 | NS      | $2932734.84   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Gen Digital Inc                                | Gen Digital Inc COM                                            | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |     85744 | NS      | $1614559.58   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Lowes Companies, Inc.                          | Lowes Companies, Inc. COM USD0.50                              | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     90901 | NS      | $21478088.27  | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Lumentum Holdings Inc.                         | Lumentum Holdings Inc. COM                                     | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |     11570 | NS      | $8130933.42   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Super Micro Computer Inc.                      | Super Micro Computer Inc. COM NEW                              | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |     82653 | NS      | $1882008.78   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Tyler Technologies Inc.                        | Tyler Technologies Inc. COM                                    | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |      6856 | NS      | $2347357.27   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| M&T Bank Corporation                           | M&T Bank Corporation COM                                       | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |     24605 | NS      | $5086345.54   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| MGM Resorts International                      | MGM Resorts International COM USD0.01                          | CUSIP: 552953101<br>LEI: 54930066VBP7DZEGGJ87 | Long             | EC               | CORP              | US        |     30393 | NS      | $1124844.93   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.                    | United Parcel Service, Inc. CLASS'B'COM USD0.01                | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |    119751 | NS      | $11781103.28  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Vertiv Holdings Co                             | Vertiv Holdings Co COM CL A                                    | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     61992 | NS      | $15533955.41  | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Republic Services, Inc.                        | Republic Services, Inc. COM                                    | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |     32606 | NS      | $7141366.16   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| ResMed Inc.                                    | ResMed Inc. COM                                                | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |     23214 | NS      | $5211078.78   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Rockwell Automation, Inc.                      | Rockwell Automation, Inc. COM                                  | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |     18207 | NS      | $6534128.10   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Rollins Inc                                    | Rollins Inc COM                                                | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |     46766 | NS      | $2497772.06   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Roper Technologies Inc                         | Roper Technologies Inc COM                                     | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |     17276 | NS      | $6113285.38   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Ross Stores Inc                                | Ross Stores Inc COM                                            | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |     52413 | NS      | $11354228.08  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Servicenow Inc                                 | Servicenow Inc COM                                             | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |    169502 | NS      | $17721434.25  | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Textron Inc.                                   | Textron Inc. COM                                               | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               | CORP              | US        |     28222 | NS      | $2471118.40   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific Inc                   | Thermo Fisher Scientific Inc COM                               | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     60882 | NS      | $29925329.65  | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Tractor Supply Co                              | Tractor Supply Co COM                                          | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |     85626 | NS      | $3878857.81   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                  | U.S. Bancorp. COM USD0.01                                      | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |    251893 | NS      | $13100954.84  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Wynn Resorts Limited                           | Wynn Resorts Limited COM USD0.01                               | CUSIP: 983134107<br>LEI: 254900CEKKWIHTEAB172 | Long             | EC               | CORP              | US        |     13894 | NS      | $1410935.69   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Allegion PLC                                   | Allegion PLC COM USD0.01                                       | CUSIP: G0176J109<br>LEI: 984500560CAC2E6FB757 | Long             | EC               | CORP              | IE        |     14480 | NS      | $2103799.23   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Aptiv PLC                                      | Aptiv PLC COM SHS                                              | CUSIP: G3265R107<br>LEI: N/A                  | Long             | EC               | CORP              | JE        |     33903 | NS      | $2354224.42   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Linde PLC                                      | Linde PLC COM EUR0.001                                         | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |     75668 | NS      | $37513167.75  | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Pentair PLC                                    | Pentair PLC SHS                                                | CUSIP: G7S00T104<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               | CORP              | IE        |     26517 | NS      | $2309895.89   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Aflac Incorporated                             | Aflac Incorporated COM                                         | CUSIP: 001055102<br>LEI: 549300N0B7DOGLXWPP39 | Long             | EC               | CORP              | US        |     75649 | NS      | $8299451.80   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| AES Corp.                                      | AES Corp. COM                                                  | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |    115400 | NS      | $1625986.01   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Wabtec Corp                                    | Wabtec Corp COM USD0.01                                        | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |     27675 | NS      | $6916259.25   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Amcor PLC                                      | Amcor PLC COM NEW                                              | CUSIP: G0250X149<br>LEI: 549300GSODGFCDQ3DI89 | Long             | EC               | CORP              | JE        |     74923 | NS      | $2978189.25   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                            | Abbott Laboratories COM                                        | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |    281782 | NS      | $28930557.23  | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Adobe Inc                                      | Adobe Inc COM                                                  | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     66522 | NS      | $16170167.47  | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| MasterCard Incorporated                        | MasterCard Incorporated CL A                                   | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |    132039 | NS      | $65974606.38  | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Monolithic Power Systems Inc.                  | Monolithic Power Systems Inc. COM                              | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      7893 | NS      | $8629811.51   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Advanced Micro Devices Inc.                    | Advanced Micro Devices Inc. COM                                | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |    264444 | NS      | $53795842.82  | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Air Products & Chemicals, Inc.                 | Air Products & Chemicals, Inc. COM                             | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |     36081 | NS      | $10481169.57  | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Moodys Corp.                                   | Moodys Corp. COM USD0.01                                       | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |     24862 | NS      | $10846047.50  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Motorola Solutions Inc                         | Motorola Solutions Inc COM NEW                                 | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |     26844 | NS      | $11649490.78  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Nike, Inc.                                     | Nike, Inc. CL B                                                | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |    193079 | NS      | $10198432.90  | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Nordson Corp                                   | Nordson Corp COM NPV                                           | CUSIP: 655663102<br>LEI: 14OS6Q5N55N95WM84M53 | Long             | EC               | CORP              | US        |      9165 | NS      | $2438439.94   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                    | AbbVie Inc. COM                                                | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    286519 | NS      | $62315017.38  | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Agilent Technologies Inc.                      | Agilent Technologies Inc. COM USD0.01                          | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |     45835 | NS      | $5224273.33   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Norfolk Southern Corporation                   | Norfolk Southern Corporation COM                               | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |     36391 | NS      | $10444217.00  | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| NVIDIA Corp.                                   | NVIDIA Corp. COM USD0.001                                      | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |   3940790 | NS      | $687273780.00 | 7.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Palo Alto Networks Inc                         | Palo Alto Networks Inc COM                                     | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |    130947 | NS      | $20993423.00  | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Philip Morris International Inc.               | Philip Morris International Inc. COM                           | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |    252257 | NS      | $41708172.35  | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Akamai Technologies, Inc.                      | Akamai Technologies, Inc. COM USD0.01                          | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |     24700 | NS      | $2836794.93   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Applovin Corp.                                 | Applovin Corp. COM CL A                                        | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |     43916 | NS      | $17478568.00  | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Qnity Electronics Inc.                         | Qnity Electronics Inc. COMMON STOCK                            | CUSIP: 74743L100<br>LEI: 254900RSUG4J9TFFZX53 | Long             | EC               | CORP              | US        |     33379 | NS      | $3851269.06   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp.                                      | RTX Corp. COM                                                  | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |    217515 | NS      | $41958643.01  | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Regions Financial Corporation                  | Regions Financial Corporation COM                              | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |    141625 | NS      | $3699245.02   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Robinhood Markets Inc                          | Robinhood Markets Inc COM CL A                                 | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |    128071 | NS      | $8875320.39   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| S&P Global Inc                                 | S&P Global Inc COM                                             | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |     49586 | NS      | $21090908.89  | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Solventum Corp.                                | Solventum Corp. COM SHS                                        | CUSIP: 83444M101<br>LEI: 254900I70403OSGY4M28 | Long             | EC               | CORP              | US        |     23494 | NS      | $1534158.35   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| TKO Group Holdings Inc.                        | TKO Group Holdings Inc. CL A                                   | CUSIP: 87256C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10742 | NS      | $2166124.25   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| The Trade Desk Inc                             | The Trade Desk Inc COM CL A                                    | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |     67612 | NS      | $1534116.25   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| 3M Company                                     | 3M Company COM USD0.01                                         | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |     85352 | NS      | $12395670.82  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Uber Technologies Inc                          | Uber Technologies Inc COM                                      | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |    333513 | NS      | $23989590.01  | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| United Airlines Holdings Inc                   | United Airlines Holdings Inc COM                               | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |     52487 | NS      | $4832478.04   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury Bills                   | B 0 06/04/26                                                   | CUSIP: 912797SX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  82702500 | NS      | $82173348.00  | 0.90%             | 2026-06-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Verisign, Inc.                                 | Verisign, Inc. COM USD0.001                                    | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |     13151 | NS      | $3266182.33   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Visa Inc                                       | Visa Inc COM CL A                                              | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |    272572 | NS      | $82382162.01  | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Albemarle Corp                                 | Albemarle Corp COM                                             | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EC               | CORP              | US        |     18780 | NS      | $3371573.41   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| The Allstate Corporation                       | The Allstate Corporation COM                                   | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |     41994 | NS      | $8707035.84   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Amphenol Corporation                           | Amphenol Corporation CL'A'COM USD0.001                         | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |    199192 | NS      | $25167909.64  | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Elevance Health Inc.                           | Elevance Health Inc. COM                                       | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |     35765 | NS      | $10470203.75  | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Cincinnati Financial Corporation               | Cincinnati Financial Corporation COM                           | CUSIP: 172062101<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | EC               | CORP              | US        |     25494 | NS      | $4011480.92   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Cisco Systems, Inc.                            | Cisco Systems, Inc. COM                                        | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    640581 | NS      | $49702679.74  | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Consolidated Edison, Inc.                      | Consolidated Edison, Inc. COM                                  | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |     58728 | NS      | $6646835.13   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Crown Castle Inc.                              | Crown Castle Inc. COM                                          | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |     70569 | NS      | $5737965.45   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Delta Air Lines Inc.                           | Delta Air Lines Inc. COM USD0.0001                             | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |    105263 | NS      | $6997884.21   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Federal Realty Investment Trust                | Federal Realty Investment Trust SH BEN INT NEW                 | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               | CORP              | US        |     17108 | NS      | $1817040.65   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                            | Fifth Third Bancorp COM                                        | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |    145854 | NS      | $6776376.89   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Fiserv Inc.                                    | Fiserv Inc. COM                                                | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     87485 | NS      | $4881663.01   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| FirstEnergy Corp.                              | FirstEnergy Corp. COM                                          | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |     84620 | NS      | $4286849.16   | 0.05%             |  |  |  | No            |                  2 | On Loan: —       |
| Franklin Resources Inc.                        | Franklin Resources Inc. COM                                    | CUSIP: 354613101<br>LEI: RIFQSET379FOGTEFKS80 | Long             | EC               | CORP              | US        |     51088 | NS      | $1206698.56   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corp.              | The Bank of New York Mellon Corp. COM                          | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |    111528 | NS      | $13230566.45  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Carrier Global Corporation                     | Carrier Global Corporation COM                                 | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |    127321 | NS      | $7169445.41   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Church & Dwight Co Inc.                        | Church & Dwight Co Inc. COM                                    | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |     41950 | NS      | $3914773.91   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                 | Citigroup Inc. COM USD0.01                                     | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |    283395 | NS      | $32139827.88  | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Colgate-Palmolive Co.                          | Colgate-Palmolive Co. COM USD1.00                              | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |    130622 | NS      | $11132912.86  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Conagra Brands Inc                             | Conagra Brands Inc COM                                         | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               | CORP              | US        |     78378 | NS      | $1232102.17   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Costco Wholesale Corporation                   | Costco Wholesale Corporation COM USD0.01                       | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     72003 | NS      | $71745950.38  | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Devon Energy Corporation                       | Devon Energy Corporation COM                                   | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |    100833 | NS      | $5073916.64   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                            | Dominion Energy Inc COM STK NPV                                | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |    138375 | NS      | $8554342.59   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Dupont De Nemours Inc                          | Dupont De Nemours Inc COM                                      | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |     65209 | NS      | $2986572.20   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| EQT Corporation                                | EQT Corporation COM                                            | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |    101130 | NS      | $6435913.26   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Fastenal Co.                                   | Fastenal Co. COM                                               | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |    186061 | NS      | $8633230.47   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| WEC Energy Group Inc.                          | WEC Energy Group Inc. COM                                      | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |     52748 | NS      | $6106635.95   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Xcel Energy Inc                                | Xcel Energy Inc COM USD2.5                                     | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |     95857 | NS      | $7614880.20   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| First Solar Inc                                | First Solar Inc COM                                            | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |     17101 | NS      | $3373343.32   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortinet Inc                                   | Fortinet Inc COM                                               | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |    102431 | NS      | $8370661.18   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| GE Vernova Inc.                                | GE Vernova Inc. COM                                            | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |     43677 | NS      | $38125652.81  | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Hewlett Packard Enterprise Co.                 | Hewlett Packard Enterprise Co. COM                             | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |    217113 | NS      | $5169460.52   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Zimmer Biomet Holdings Inc                     | Zimmer Biomet Holdings Inc COM USD0.01                         | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |     30993 | NS      | $2802387.12   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Everest Group Ltd                              | Everest Group Ltd COM USD0.01                                  | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |      6669 | NS      | $2179762.66   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| TE Connectivity PLC                            | TE Connectivity PLC ORD SHS                                    | CUSIP: G87052109<br>LEI: 6367003TB6K484NFHE54 | Long             | EC               | CORP              | IE        |     47550 | NS      | $9938900.89   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Trane Technologies PLC                         | Trane Technologies PLC COM USD1                                | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |     35866 | NS      | $14946796.82  | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                               | Amazon.com, Inc. COM                                           | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |   1584271 | NS      | $329956119.38 | 3.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Ameren Corp.                                   | Ameren Corp. COM                                               | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |     44975 | NS      | $4943652.03   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| American Electric Power Co, Inc.               | American Electric Power Co, Inc. COM                           | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     87646 | NS      | $11488637.77  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| American Express Company                       | American Express Company COM                                   | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     86869 | NS      | $26276135.16  | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Cencora Inc                                    | Cencora Inc COM                                                | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |     31524 | NS      | $9902949.26   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Arista Networks Inc                            | Arista Networks Inc COM SHS                                    | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |    167334 | NS      | $20545268.57  | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Baker Hughes Company                           | Baker Hughes Company CL A                                      | CUSIP: 05722G100<br>LEI: 549300XU3XH6F05YEQ93 | Long             | EC               | CORP              | US        |    159869 | NS      | $9760002.45   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Brown & Brown Inc                              | Brown & Brown Inc COM USD0.10                                  | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |     47442 | NS      | $3093692.88   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Dollar General Corporation                     | Dollar General Corporation COM                                 | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |     35707 | NS      | $4239492.14   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| EOG Resources Inc.                             | EOG Resources Inc. COM USD0.01                                 | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     87927 | NS      | $12711606.32  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortive Corporation                            | Fortive Corporation COM                                        | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |     55006 | NS      | $3040731.64   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| General Motors Company                         | General Motors Company COM                                     | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |    145816 | NS      | $10863292.00  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Lululemon Athletica Inc.                       | Lululemon Athletica Inc. COM                                   | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |     17298 | NS      | $2648323.77   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Northern Trust Corporation                     | Northern Trust Corporation COM                                 | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |     30406 | NS      | $4243765.50   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Northrop Grumman Corporation                   | Northrop Grumman Corporation COM                               | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |     21618 | NS      | $14748664.30  | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Nucor Corporation                              | Nucor Corporation COM                                          | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |     37086 | NS      | $6271242.52   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                     | Occidental Petroleum Corp. COM                                 | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |    116545 | NS      | $7575425.00   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Old Dominion Freight Line Inc.                 | Old Dominion Freight Line Inc. COM                             | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |     29817 | NS      | $5826241.89   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Omnicom Group Inc                              | Omnicom Group Inc COM                                          | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |     50134 | NS      | $3775591.56   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| ON Semiconductor Corp.                         | ON Semiconductor Corp. COM USD0.01                             | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |     69566 | NS      | $4307526.69   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Oneok Inc.                                     | Oneok Inc. COM                                                 | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |    101965 | NS      | $9216616.43   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp.                                   | Oracle Corp. COM                                               | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |    274787 | NS      | $40423916.26  | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| PG&E Corporation                               | PG&E Corporation COM                                           | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |    356176 | NS      | $6258012.31   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| PNC Financial Services Group Inc.              | PNC Financial Services Group Inc. COM                          | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |     65451 | NS      | $13619698.95  | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| PPG Industries, Inc.                           | PPG Industries, Inc. COM                                       | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |     37747 | NS      | $4034399.38   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Paccar Inc                                     | Paccar Inc COM                                                 | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |     85140 | NS      | $9833670.00   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Parker-Hannifin Corp.                          | Parker-Hannifin Corp. COM                                      | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |     20453 | NS      | $18310343.60  | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Paychex Inc                                    | Paychex Inc COM                                                | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |     52586 | NS      | $4844222.41   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Pepsico Inc                                    | Pepsico Inc COM                                                | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |    221462 | NS      | $34390833.55  | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Pfizer Inc.                                    | Pfizer Inc. COM                                                | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    921358 | NS      | $25871732.54  | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Pinnacle West Capital Corp.                    | Pinnacle West Capital Corp. COM                                | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |     19123 | NS      | $1926642.25   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Prologis Inc.                                  | Prologis Inc. COM USD0.01                                      | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |    150633 | NS      | $19910669.98  | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| The J M Smucker Company                        | The J M Smucker Company COM NPV                                | CUSIP: 832696405<br>LEI: 5493000WDH6A0LHDJD55 | Long             | EC               | CORP              | US        |     17795 | NS      | $1716149.85   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Veralto Corp.                                  | Veralto Corp. COM SHS                                          | CUSIP: 92338C103<br>LEI: 635400FJE6GSOJUSNY27 | Long             | EC               | CORP              | US        |     40236 | NS      | $3557667.10   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Steris PLC                                     | Steris PLC ORD USD0.001                                        | CUSIP: G8473T100<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |     16972 | NS      | $3753018.39   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| News Corporation                               | News Corporation CL B                                          | CUSIP: 65249B208<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |     19473 | NS      | $555175.23    | 0.01%             |  |  |  | No            |                  2 | On Loan: —       |
| Packaging Corporation of America               | Packaging Corporation of America COM USD0.01                   | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |     14482 | NS      | $3073370.05   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Howmet Aerospace Inc                           | Howmet Aerospace Inc COM                                       | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |     64972 | NS      | $14973446.82  | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Hubbell Incorporated                           | Hubbell Incorporated COM                                       | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |      8615 | NS      | $4227725.01   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Kenvue Inc.                                    | Kenvue Inc. COM                                                | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |    310506 | NS      | $5353123.53   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Keysight Technologies, Inc.                    | Keysight Technologies, Inc. COM                                | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |     27795 | NS      | $7848473.99   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| The Kraft Heinz Co.                            | The Kraft Heinz Co. COM                                        | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |    135819 | NS      | $3054569.32   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Lam Research Corporation                       | Lam Research Corporation COM NEW                               | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |    202454 | NS      | $43256323.51  | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| The Mosaic Company                             | The Mosaic Company COM USD0.01                                 | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |     51435 | NS      | $1311592.50   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                               | NRG Energy, Inc. COM NEW                                       | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |     34504 | NS      | $5042414.65   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Nasdaq Inc                                     | Nasdaq Inc COM                                                 | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |     72771 | NS      | $6177530.17   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| NetApp Inc.                                    | NetApp Inc. COM                                                | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |     32095 | NS      | $3286207.04   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                  | Netflix, Inc. COM                                              | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |    684931 | NS      | $65856115.50  | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Paramount Skydance Corp.                       | Paramount Skydance Corp. COM CL B                              | CUSIP: 69932A204<br>LEI: 529900B6VAJG54Y9QF02 | Long             | EC               | CORP              | US        |     63545 | NS      | $573175.88    | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Salesforce Inc.                                | Salesforce Inc. COM                                            | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |    151839 | NS      | $28343785.97  | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Sandisk Corporation                            | Sandisk Corporation COM                                        | CUSIP: 80004C200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23918 | NS      | $15196062.48  | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Henry Schein, Inc.                             | Henry Schein, Inc. COM                                         | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |     16216 | NS      | $1195119.20   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SLB Ltd.                                       | SLB Ltd. COM USD0.01                                           | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |    242315 | NS      | $12452567.95  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| The Charles Schwab Corporation                 | The Charles Schwab Corporation COM                             | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |    270933 | NS      | $25462283.71  | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Texas Pacific Land Corporation                 | Texas Pacific Land Corporation COM                             | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9414 | NS      | $4467507.97   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                         | Truist Financial Corp. COM                                     | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |    204580 | NS      | $9404542.60   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Ulta Beauty Inc                                | Ulta Beauty Inc COM STK USD0.01                                | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      7198 | NS      | $3762466.53   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Warner Bros. Discovery Inc.                    | Warner Bros. Discovery Inc. COM SER A                          | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |    401619 | NS      | $11028457.57  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                              | Wells Fargo & Co. COM                                          | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |    501491 | NS      | $39923698.58  | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Accenture PLC                                  | Accenture PLC CLS'A'USD0.0000225                               | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |     99711 | NS      | $19771693.92  | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Norwegian Cruise Line Holdings Ltd             | Norwegian Cruise Line Holdings Ltd COM USD0.001                | CUSIP: G66721104<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |     70254 | NS      | $1313749.78   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Prudential Financial, Inc.                     | Prudential Financial, Inc. COM USD0.01                         | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |     56392 | NS      | $5508934.47   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Sempra                                         | Sempra COM                                                     | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |    105765 | NS      | $10277185.12  | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| The Sherwin-Williams Company                   | The Sherwin-Williams Company COM                               | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |     37358 | NS      | $11975106.86  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Simon Property Group Inc                       | Simon Property Group Inc COM                                   | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     52700 | NS      | $9830130.94   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Smith(Ao)Corp                                  | Smith(Ao)Corp COM                                              | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               | CORP              | US        |     18084 | NS      | $1192458.99   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Snap-On Incorporated                           | Snap-On Incorporated COM                                       | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |      8272 | NS      | $3004555.86   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Southern Co.                                   | Southern Co. COM                                               | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |    178927 | NS      | $17270033.84  | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Southwest Airlines Co.                         | Southwest Airlines Co. COM                                     | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |     85135 | NS      | $3198521.97   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Starbucks Corp.                                | Starbucks Corp. COM                                            | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |    184621 | NS      | $16540195.23  | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Corp.                             | State Street Corp. COM                                         | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |     45268 | NS      | $5729118.16   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Steel Dynamics, Inc.                           | Steel Dynamics, Inc. COM STK USD0.01                           | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |     21998 | NS      | $3959640.00   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Stryker Corporation                            | Stryker Corporation COM                                        | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |     55812 | NS      | $18339265.40  | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Synopsys Inc                                   | Synopsys Inc COM                                               | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |     31002 | NS      | $12291673.09  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Sysco Corporation                              | Sysco Corporation COM                                          | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |     77609 | NS      | $5535849.98   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| The TJX Companies Inc.                         | The TJX Companies Inc. COM                                     | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |    179949 | NS      | $28737855.47  | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| T-Mobile US Inc                                | T-Mobile US Inc COM                                            | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     76778 | NS      | $16125682.91  | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Target Corp.                                   | Target Corp. COM STK USD0.0833                                 | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     73376 | NS      | $8893171.14   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Teradyne Inc.                                  | Teradyne Inc. COM                                              | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |     25378 | NS      | $7523562.00   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Texas Instruments Inc.                         | Texas Instruments Inc. COM USD1.00                             | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |    147066 | NS      | $28551393.25  | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                        | UnitedHealth Group Inc. COM                                    | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |    146789 | NS      | $39719635.63  | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Verisk Analytics, Inc.                         | Verisk Analytics, Inc. COM USD0.001                            | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |     22723 | NS      | $4311689.25   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| West Pharmaceutical Services Incorporated      | West Pharmaceutical Services Incorporated COM                  | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |     11514 | NS      | $2885868.95   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Xylem, Inc.                                    | Xylem, Inc. COM                                                | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |     39649 | NS      | $4738055.50   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Bunge Global SA                                | Bunge Global SA COM SHS                                        | CUSIP: H11356104<br>LEI: 254900IVXSV9K0B7PO26 | Long             | EC               | CORP              | CH        |     22315 | NS      | $2838468.01   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Chubb Ltd. Switzerland                         | Chubb Ltd. Switzerland COM                                     | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |     58941 | NS      | $19210640.32  | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| LyondellBasell Industries NV                   | LyondellBasell Industries NV COM EUR0.04 CLASS 'A'             | CUSIP: N53745100<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               | CORP              | NL        |     43217 | NS      | $3481561.51   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                  | Alphabet Inc. CAP STK CL C                                     | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    758411 | NS      | $217557776.25 | 2.37%             |  |  |  | No            |                  2 | On Loan: No      |
| American Tower Corporation                     | American Tower Corporation COM                                 | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     75863 | NS      | $13092436.54  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Ares Management Corporation                    | Ares Management Corporation CL A COM STK                       | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               | CORP              | US        |     32830 | NS      | $3581753.00   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Deere & Company                                | Deere & Company COM                                            | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |     40853 | NS      | $23012494.73  | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Emcor Group Inc                                | Emcor Group Inc COM STK USD0.01                                | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      7265 | NS      | $5363822.11   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Host Hotels & Resorts Inc                      | Host Hotels & Resorts Inc COM                                  | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |    100229 | NS      | $1920387.62   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Price T Rowe Group Inc.                        | Price T Rowe Group Inc. COM USD0.20                            | CUSIP: 74144T108<br>LEI: 549300SIV6FPS9Y7IH33 | Long             | EC               | CORP              | US        |     35423 | NS      | $3193029.26   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Quanta Services, Inc.                          | Quanta Services, Inc. COM                                      | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |     24163 | NS      | $13265970.20  | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Vici Properties Inc                            | Vici Properties Inc COM                                        | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |    173198 | NS      | $4731769.32   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Welltower Inc.                                 | Welltower Inc. COM                                             | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |    113069 | NS      | $22354872.04  | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Weyerhaeuser Company                           | Weyerhaeuser Company COM NEW                                   | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |    117698 | NS      | $2875362.15   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Williams Companies Inc. (The)                  | Williams Companies Inc. (The) COM                              | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |    197896 | NS      | $14402870.75  | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Williams-Sonoma Inc.                           | Williams-Sonoma Inc. COM                                       | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |     19449 | NS      | $3546136.25   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Zebra Technologies Corporation                 | Zebra Technologies Corporation CL A                            | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |      7839 | NS      | $1638978.10   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Royal Caribbean Group                          | Royal Caribbean Group COM                                      | CUSIP: V7780T103<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | LR        |     40769 | NS      | $11218813.40  | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Dreyfus Instl Resv                             | Dreyfus Instl Resv PFD GOVT INSTL                              | CUSIP: 26200X100<br>LEI: 549300FG0OZ5YKPLK622 | Long             | STIV             | RF                | US        |  17632481 | PA      | $17632480.71  | 0.19%             | 2026-04-01      | Variable      | 3.56%                 | 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.