# EDGAR Filing Document

**Accession Number:** 0000356476
**File Stem:** 0001193125-26-232061
**Filing Date:** 2026-5
**Character Count:** 65190
**Document Hash:** dd1df3a9aca6277dd81565e1c2fad1d1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-232061.hdr.sgml**: 20260520

**ACCESSION NUMBER**: 0001193125-26-232061

**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:** 261002482

**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 Real Estate Index Fund (Series ID: S000038789)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000119487 | Investor Class      | MXREX           |
| C000155815 | Institutional Class | MXSFX           |

## Nport-Ex

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

---

| |
|:---|
| **Empower Real Estate Index Fund** |
| **Institutional Class Ticker / MXSFX** |
| **Investor Class Ticker / MXREX** |

---

<br> (the "Fund")

#### 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 the Fund, which includes details as to offering price and other information.

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER REAL ESTATE INDEX FUND

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

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| **COMMON STOCK** | **COMMON STOCK** | **COMMON STOCK** |
| Apartment REITS — 10.89% | Apartment REITS — 10.89% | Apartment REITS — 10.89% |
| 372746 | American Homes 4 Rent Class A REIT | &nbsp;&nbsp;&nbsp;$10407068 |
| 161891 | AvalonBay Communities Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp; 26444895 |
| 118230 | Camden Property Trust REIT | &nbsp;&nbsp;&nbsp;&nbsp; 11546342 |
| &nbsp;&nbsp;19097 | Centerspace REIT | &nbsp;&nbsp;&nbsp;&nbsp; 1097123 |
| 393085 | Equity Residential REIT | &nbsp;&nbsp;&nbsp;&nbsp; 23250978 |
| &nbsp;&nbsp;73679 | Essex Property Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp; 17830318 |
| 270801 | Independence Realty Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4032227 |
| 644821 | Invitation Homes Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16023802 |
| 133657 | Mid-America Apartment Communities Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16322193 |
| &nbsp;&nbsp;24939 | NexPoint Residential Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623475 |
| 343852 | UDR Inc REIT<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11615320 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139193741 |
| Diversified REITS — 16.35% | Diversified REITS — 16.35% | Diversified REITS — 16.35% |
| &nbsp;&nbsp;54130 | American Assets Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996533 |
| 216338 | Broadstone Net Lease Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3952495 |
| 369235 | Digital Realty Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66539840 |
| &nbsp;&nbsp;87054 | EPR Properties REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4349218 |
| 112339 | Equinix Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110119183 |
| &nbsp;&nbsp;35580 | Fermi Inc REIT<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207787 |
| &nbsp;&nbsp;55338 | Gladstone Commercial Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632513 |
| 225416 | Global Net Lease Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2109894 |
| &nbsp;&nbsp;92576 | UMH Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1335872 |
| &nbsp;&nbsp;92865 | Veris Residential Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1752363 |
| 250559 | WP Carey Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17027990 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209023688 |
| Health Care REITS — 21.57% | Health Care REITS — 21.57% | Health Care REITS — 21.57% |
| 178327 | Alexandria Real Estate Equities Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8277939 |
| 202841 | American Healthcare Inc REIT<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9565981 |
| 255428 | CareTrust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9361436 |
| &nbsp;&nbsp;14409 | Chiron Real Estate Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476650 |
| &nbsp;&nbsp;29275 | Community Healthcare Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465180 |
| 249171 | Diversified Healthcare Trust REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1654495 |
| 398854 | Healthcare Realty Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6776530 |
| 794673 | Healthpeak Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13056478 |
| 563930 | Medical Properties Trust Inc REIT<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2610996 |
| &nbsp;&nbsp;54467 | National Health Investors Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4404202 |
| 337937 | Omega Healthcare Investors Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14808399 |
| &nbsp;&nbsp;63022 | Sila Realty Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1492361 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Health Care REITS — (continued) | Health Care REITS — (continued) | Health Care REITS — (continued) |
| &nbsp;&nbsp;14594 | Universal Health Realty Income Trust REIT | &nbsp;&nbsp;&nbsp;$590619 |
| 543048 | Ventas Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp; 44410466 |
| 797771 | Welltower Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp; 157727304 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275679036 |
| Hotels REITS — 2.77% | Hotels REITS — 2.77% | Hotels REITS — 2.77% |
| 251553 | Apple Hospitality Inc REIT<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 2895375 |
| 232902 | DiamondRock Hospitality Co REIT | &nbsp;&nbsp;&nbsp;&nbsp; 2182292 |
| 731225 | Host Hotels & Resorts Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14010271 |
| 228551 | Park Hotels & Resorts Inc REIT<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2406642 |
| 129879 | Pebblebrook Hotel Trust REIT<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640372 |
| 170492 | RLJ Lodging Trust REIT<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1265050 |
| &nbsp;&nbsp;72036 | Ryman Hospitality Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6646762 |
| 180649 | Service Properties Trust REIT<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244779 |
| 119546 | Summit Hotel Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528393 |
| 217125 | Sunstone Hotel Investors Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1956296 |
| 108396 | Xenia Hotels & Resorts Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1607513 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35383745 |
| Manufactured Homes REITS — 2.39% | Manufactured Homes REITS — 2.39% | Manufactured Homes REITS — 2.39% |
| 221620 | Equity LifeStyle Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13833520 |
| 132912 | Sun Communities Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16741596 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30575116 |
| Office Property REITS — 2.95% | Office Property REITS — 2.95% | Office Property REITS — 2.95% |
| 198597 | Brandywine Realty Trust REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538198 |
| 168585 | BXP Inc REIT<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8749561 |
| 129163 | COPT Defense Properties REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3952388 |
| 192060 | Cousins Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4334794 |
| 191466 | Douglas Emmett Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1803610 |
| &nbsp;&nbsp;50031 | Easterly Government Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072164 |
| 158651 | Empire State Realty Trust Inc Class A REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824985 |
| 125688 | Highwoods Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2690980 |
| &nbsp;&nbsp;61957 | Hudson Pacific Properties Inc REIT<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366166 |
| &nbsp;&nbsp;67664 | JBG SMITH Properties REIT<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988571 |
| 124650 | Kilroy Realty Corp REIT<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3516377 |
| &nbsp;&nbsp;16701 | NET Lease Office Properties REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192396 |
| 142367 | Piedmont Realty Trust Inc REIT<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935351 |
| &nbsp;&nbsp;81360 | SL Green Realty Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3005438 |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER REAL ESTATE INDEX FUND

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

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Office Property REITS — (continued) | Office Property REITS — (continued) | Office Property REITS — (continued) |
| &nbsp;&nbsp;&nbsp;183118 | Vornado Realty Trust REIT | &nbsp;&nbsp;&nbsp;$4759237 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37730216 |
| Regional Malls REITS — 6.26% | Regional Malls REITS — 6.26% | Regional Malls REITS — 6.26% |
| &nbsp;&nbsp;&nbsp;&nbsp;17613 | CBL & Associates Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp; 676868 |
| &nbsp;&nbsp;&nbsp;292830 | Macerich Co REIT | &nbsp;&nbsp;&nbsp;&nbsp; 5534487 |
| &nbsp;&nbsp;&nbsp;371834 | Simon Property Group Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp; 69358195 |
| &nbsp;&nbsp;&nbsp;131611 | Tanger Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp; 4472142 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80041692 |
| Shopping Centers REITS — 5.76% | Shopping Centers REITS — 5.76% | Shopping Centers REITS — 5.76% |
| &nbsp;&nbsp;&nbsp;149820 | Acadia Realty Trust REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2864558 |
| &nbsp;&nbsp;&nbsp;350537 | Brixmor Property Group Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10095466 |
| &nbsp;&nbsp;&nbsp;110833 | Curbline Properties Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2858383 |
| &nbsp;&nbsp;&nbsp;&nbsp;89765 | Federal Realty Investment Trust REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9533941 |
| &nbsp;&nbsp;&nbsp;770719 | Kimco Realty Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17318056 |
| &nbsp;&nbsp;&nbsp;247540 | Kite Realty Group Trust REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6077107 |
| &nbsp;&nbsp;&nbsp;110763 | NETSTREIT Corp REIT<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2085667 |
| &nbsp;&nbsp;&nbsp;143832 | Phillips Edison & Co Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5382193 |
| &nbsp;&nbsp;&nbsp;188208 | Regency Centers Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14239817 |
| &nbsp;&nbsp;&nbsp;&nbsp;59983 | SITE Centers Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323908 |
| &nbsp;&nbsp;&nbsp;144011 | Urban Edge Properties REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2877340 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73656436 |
| Single Tenant REITS — 7.51% | Single Tenant REITS — 7.51% | Single Tenant REITS — 7.51% |
| &nbsp;&nbsp;&nbsp;136976 | Agree Realty Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10325251 |
| &nbsp;&nbsp;&nbsp;240057 | Essential Properties Realty Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7288130 |
| &nbsp;&nbsp;&nbsp;125476 | Four Corners Property Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2967507 |
| &nbsp;&nbsp;&nbsp;&nbsp;62667 | Getty Realty Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1992811 |
| &nbsp;&nbsp;&nbsp;217165 | NNN Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9127445 |
| 1051768 | Realty Income Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64347166 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96048310 |
| Storage REITS — 7.45% | Storage REITS — 7.45% | Storage REITS — 7.45% |
| &nbsp;&nbsp;&nbsp;260723 | CubeSmart REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9555498 |
| &nbsp;&nbsp;&nbsp;242672 | Extra Space Storage Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31821579 |
| &nbsp;&nbsp;&nbsp;&nbsp;80927 | National Storage Affiliates Trust REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3054185 |
| &nbsp;&nbsp;&nbsp;180598 | Public Storage REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48920386 |
| &nbsp;&nbsp;&nbsp;&nbsp;63301 | Smartstop Self Storage Inc REIT<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1916754 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95268402 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | &nbsp;&nbsp;&nbsp;**Fair Value** |
| Warehouse/Industry REITS — 15.08% | Warehouse/Industry REITS — 15.08% | Warehouse/Industry REITS — 15.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325684 | Americold Realty Trust Inc REIT<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;$3732339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60877 | EastGroup Properties Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp; 11267724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151520 | First Industrial Realty Trust Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp; 8765432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32039 | Innovative Industrial Properties Inc REIT<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 1607076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67545 | LXP Industrial Trust REIT | &nbsp;&nbsp;&nbsp;&nbsp; 3124632 |
| &nbsp;&nbsp;&nbsp;&nbsp;1062805 | Prologis Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp; 140481564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263222 | Rexford Industrial Realty Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp; 8615256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218420 | STAG Industrial Inc REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7876225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119112 | Terreno Realty Corp REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7315859 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192786107 |
| **TOTAL COMMON STOCK — 98.98%<br> (Cost $1,165,830,963)** | **TOTAL COMMON STOCK — 98.98%<br> (Cost $1,165,830,963)** | &nbsp;&nbsp;&nbsp;**$1265386489** |
| **GOVERNMENT MONEY MARKET MUTUAL FUNDS** | **GOVERNMENT MONEY MARKET MUTUAL FUNDS** | **GOVERNMENT MONEY MARKET MUTUAL FUNDS** |
| &nbsp;&nbsp;41700338 | 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;41700338 |
| **TOTAL GOVERNMENT MONEY MARKET MUTUAL FUNDS — 3.26%<br> (Cost $41,700,338)** | **TOTAL GOVERNMENT MONEY MARKET MUTUAL FUNDS — 3.26%<br> (Cost $41,700,338)** | &nbsp;&nbsp;&nbsp;&nbsp;**$41700338** |
| **Principal Amount** |  |  |
| **SHORT TERM INVESTMENTS** | **SHORT TERM INVESTMENTS** | **SHORT TERM INVESTMENTS** |
| U.S. Treasury Bonds and Notes — 0.53% | U.S. Treasury Bonds and Notes — 0.53% | U.S. Treasury Bonds and Notes — 0.53% |
| &nbsp;&nbsp;$6824900 | U.S. Treasury Bills<sup>(e)</sup><br> 3.63%, 06/04/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6781144 |
| **TOTAL SHORT TERM INVESTMENTS — 0.53%<br> (Cost $6,781,144)** | **TOTAL SHORT TERM INVESTMENTS — 0.53%<br> (Cost $6,781,144)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$6781144** |
| **TOTAL INVESTMENTS — 102.77%<br> (Cost $1,214,312,445)** | **TOTAL INVESTMENTS — 102.77%<br> (Cost $1,214,312,445)** | &nbsp;&nbsp;&nbsp;**$1313867971** |
| **OTHER ASSETS & LIABILITIES, NET — (2.77)%** | **OTHER ASSETS & LIABILITIES, NET — (2.77)%** | &nbsp;&nbsp;&nbsp;&nbsp;**$(35376092)** |
| **TOTAL NET ASSETS — 100.00%** | **TOTAL NET ASSETS — 100.00%** | &nbsp;&nbsp;&nbsp;**$1278491879** |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.<br>

### EMPOWER REAL ESTATE INDEX FUND

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

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

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

<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 | 39 | USD | 12813 | Jun 2026 | $(98000) |
|  |  |  |  | **Net Depreciation** | **$(98000)** |

---

See Notes to Schedule of Investments.<br>

------

*March 31, 2026*

------

### EMPOWER FUNDS, INC.

### EMPOWER REAL ESTATE INDEX FUND

### 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 the Fund's securities and assets, and has appointed the Fair Value Pricing Committee of the Fund's 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 Fund's valuation designee to make all fair value determinations with respect to the Fund's investments, subject to oversight by the Board.

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

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

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.

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.

---

| | |
|:---|:---|
| **<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 |
| Government Money Market Mutual Funds | Net asset value of underlying mutual fund |
| Short Term Investments | Maturity date, credit quality and interest rates |

---

------

*March 31, 2026*

------

Futures Contracts Exchange traded close price

The Fund classifies its valuations into three levels based upon the observability of inputs to the valuation of the 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 the Fund's own assumptions and would be based on the best information available under the circumstances.

As of March 31, 2026, all of the Fund's investments are valued using Level 1 inputs, except for Short Term Investments, which are valued using Level 2 inputs. More information regarding the sector classifications, as applicable, are included in the Schedule of Investments.

<u>Futures Contracts</u>

The Fund uses futures contracts 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.

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

---

| | |
|:---|:---|
| Empower Real Estate 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;47 |
| &nbsp;&nbsp;&nbsp;Average notional long | &nbsp;&nbsp;$15982828 |

---

------

*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 Real Estate Index Fund

- **b. EDGAR series identifier (if any):** S000038789

- **c. LEI of Series:** 549300XP0KJCX9NXMH47

**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:** $1281974614.06

**Total Liabilities:** $3848565.75

**Net Assets:** $1278126048.31

**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 C000119487 | 2.95%                | 7.47%                | -5.70%               |
| Class ID C000155815 | 2.91%                | 7.65%                | -5.68%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $23366.39                | $35080348.42                               |
| Month 2  | $-379149.46              | $96772370.43                               |
| Month 3  | $-1818297.82             | $-86252247.54                              |

### 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        |        39 | NC      | $-98000.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities, Inc.             | AvalonBay Communities, Inc. COM                   | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |    161891 | NS      | $26444895.00  | 2.07%             |  |  |  | No            |                  2 | On Loan: No      |
| BXP Inc                                 | BXP Inc COM                                       | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |    168585 | NS      | $8749561.33   | 0.68%             |  |  |  | No            |                  2 | On Loan: —       |
| Americold Realty Trust Inc              | Americold Realty Trust Inc COM                    | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               | CORP              | US        |    325684 | NS      | $3732338.65   | 0.29%             |  |  |  | No            |                  2 | On Loan: —       |
| Brixmor Property Group Inc              | Brixmor Property Group Inc COM                    | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |    350537 | NS      | $10095465.53  | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Brandywine Realty Trust                 | Brandywine Realty Trust SH BEN INT NEW            | CUSIP: 105368203<br>LEI: 5UZ46ZCYUFYYAC0DS831 | Long             | EC               | CORP              | US        |    198597 | NS      | $538197.87    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Broadstone Net Lease Inc                | Broadstone Net Lease Inc COM                      | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |    216338 | NS      | $3952495.36   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Sila Realty Trust Inc                   | Sila Realty Trust Inc COMMON STOCK                | CUSIP: 146280508<br>LEI: 549300HXH142HWKKSW59 | Long             | EC               | CORP              | US        |     63022 | NS      | $1492360.91   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Centerspace                             | Centerspace COM                                   | CUSIP: 15202L107<br>LEI: 5493002LG2SH9EEHT720 | Long             | EC               | CORP              | US        |     19097 | NS      | $1097122.64   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| COPT Defense Properties                 | COPT Defense Properties COM USD0.01               | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |    129163 | NS      | $3952387.85   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Cousins Properties Inc.                 | Cousins Properties Inc. COM NEW                   | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |    192060 | NS      | $4334794.20   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| DiamondRock Hospitality Co.             | DiamondRock Hospitality Co. COM USD0.01           | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               | CORP              | US        |    232902 | NS      | $2182291.77   | 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        |    369235 | NS      | $66539840.43  | 5.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Empire State Realty Trust Inc           | Empire State Realty Trust Inc CL A                | CUSIP: 292104106<br>LEI: 549300VOKY1DUEQSB456 | Long             | EC               | CORP              | US        |    158651 | NS      | $824985.19    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Global Net Lease Inc                    | Global Net Lease Inc COM NEW                      | CUSIP: 379378201<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EC               | CORP              | US        |    225416 | NS      | $2109893.78   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Innovative Industrial Propertes Inc     | Innovative Industrial Propertes Inc COM USD0.001  | CUSIP: 45781V101<br>LEI: 5493008BQ0545EZXRR30 | Long             | EC               | CORP              | US        |     32039 | NS      | $1607076.23   | 0.13%             |  |  |  | No            |                  2 | On Loan: —       |
| NETSTREIT Corp.                         | NETSTREIT Corp. COM                               | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |    110763 | NS      | $2085667.28   | 0.16%             |  |  |  | No            |                  2 | On Loan: —       |
| Site Centers Corp                       | Site Centers Corp COM                             | CUSIP: 82981J851<br>LEI: W2AVA6SODOQ1LCYJQR54 | Long             | EC               | CORP              | US        |     59983 | NS      | $323908.19    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| UDR Inc                                 | UDR Inc COM                                       | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |    343852 | NS      | $11615320.41  | 0.91%             |  |  |  | No            |                  2 | On Loan: —       |
| Camden Property Trust                   | Camden Property Trust SH BEN INT                  | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |    118230 | NS      | $11546341.99  | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| HRTI LLC                                | HRTI LLC CL A COM                                 | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |    398854 | NS      | $6776529.55   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury Bills            | B 0 06/04/26                                      | CUSIP: 912797SX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6824900 | NS      | $6781143.75   | 0.53%             | 2026-06-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Rexford Industrial Realty Inc.          | Rexford Industrial Realty Inc. COM                | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |    263222 | NS      | $8615256.17   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Sunstone Hotel Investors Inc.           | Sunstone Hotel Investors Inc. COM                 | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |    217125 | NS      | $1956296.23   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Eastgroup Properties, Inc.              | Eastgroup Properties, Inc. COM                    | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |     60877 | NS      | $11267723.87  | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| CBL & Associates Properties, Inc.       | CBL & Associates Properties, Inc. COMMON STOCK    | CUSIP: 124830878<br>LEI: 529900EIVFBRS4PUBZ13 | Long             | EC               | CORP              | US        |     17613 | NS      | $676867.56    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Caretrust Reit Inc                      | Caretrust Reit Inc COM                            | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |    255428 | NS      | $9361436.04   | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Essential Properties Realty Trust Inc.  | Essential Properties Realty Trust Inc. COM        | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |    240057 | NS      | $7288130.38   | 0.57%             |  |  |  | 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        |    133657 | NS      | $16322192.86  | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| National Health Investors, Inc.         | National Health Investors, Inc. COM               | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               | CORP              | US        |     54467 | NS      | $4404201.59   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Community Healthcare Trust Inc.         | Community Healthcare Trust Inc. COM               | CUSIP: 20369C106<br>LEI: 549300FATSRCMKOV9536 | Long             | EC               | CORP              | US        |     29275 | NS      | $465179.76    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Equity Residential                      | Equity Residential SH BEN INT                     | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |    393085 | NS      | $23250977.82  | 1.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Essex Property Trust, Inc.              | Essex Property Trust, Inc. COM                    | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |     73679 | NS      | $17830318.00  | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Four Corners Property Trust Inc.        | Four Corners Property Trust Inc. COM              | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               | CORP              | US        |    125476 | NS      | $2967507.38   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Gladstone Commercial Corp.              | Gladstone Commercial Corp. COM                    | CUSIP: 376536108<br>LEI: 529900EVVV534W8R0T32 | Long             | EC               | CORP              | US        |     55338 | NS      | $632513.34    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chiron Real Estate Inc.                 | Chiron Real Estate Inc. COM NEW                   | CUSIP: 37954A303<br>LEI: 549300HFRIPQDYU3GU60 | Long             | EC               | CORP              | US        |     14409 | NS      | $476649.72    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Pacific Properties Inc           | Hudson Pacific Properties Inc COM                 | CUSIP: 444097406<br>LEI: 529900EURZA5HRSXQ389 | Long             | EC               | CORP              | US        |     61957 | NS      | $366165.84    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors, Inc.        | Omega Healthcare Investors, Inc. COM              | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |    337937 | NS      | $14808399.34  | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Piedmont Realty Trust Inc.              | Piedmont Realty Trust Inc. COM CL A               | CUSIP: 720190206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    142367 | NS      | $935351.19    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Public Storage                          | Public Storage COM                                | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |    180598 | NS      | $48920385.85  | 3.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Realty Income Corporation               | Realty Income Corporation COM                     | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |   1051768 | NS      | $64347166.06  | 5.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Sl Green Realty Corp                    | Sl Green Realty Corp COM                          | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               | CORP              | US        |     81360 | NS      | $3005438.46   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Service Properties Trust                | Service Properties Trust COM SH BEN INT           | CUSIP: 81761L102<br>LEI: 529900IS770AG1K9QG27 | Long             | EC               | CORP              | US        |    180649 | NS      | $244779.44    | 0.02%             |  |  |  | No            |                  2 | On Loan: —       |
| Simon Property Group Inc                | Simon Property Group Inc COM                      | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |    371834 | NS      | $69358195.14  | 5.43%             |  |  |  | No            |                  2 | On Loan: No      |
| STAG Industrial, Inc.                   | STAG Industrial, Inc. COM                         | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |    218420 | NS      | $7876225.14   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Summit Hotel Properties, Inc.           | Summit Hotel Properties, Inc. COM                 | CUSIP: 866082100<br>LEI: 254900OBQWJK6X20LS71 | Long             | EC               | CORP              | US        |    119546 | NS      | $528393.32    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Sun Communities, Inc.                   | Sun Communities, Inc. COM                         | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |    132912 | NS      | $16741595.58  | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Tanger Inc.                             | Tanger Inc. COM                                   | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               | CORP              | US        |    131611 | NS      | $4472141.90   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Universal Health Realty Income Trust    | Universal Health Realty Income Trust SH BEN INT   | CUSIP: 91359E105<br>LEI: 549300L4MWZL4IH6H172 | Long             | EC               | CORP              | US        |     14594 | NS      | $590619.19    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Ventas Inc.                             | Ventas Inc. COM                                   | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |    543048 | NS      | $44410465.82  | 3.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Vornado Realty Trust                    | Vornado Realty Trust SH BEN INT                   | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    183118 | NS      | $4759236.88   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Welltower Inc.                          | Welltower Inc. COM                                | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |    797771 | NS      | $157727302.94 | 12.34%            |  |  |  | No            |                  2 | On Loan: No      |
| Agree Realty Corp                       | Agree Realty Corp COM                             | CUSIP: 008492100<br>LEI: 98450090H010B37OEB68 | Long             | EC               | CORP              | US        |    136976 | NS      | $10325250.99  | 0.81%             |  |  |  | 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        |    178327 | NS      | $8277939.38   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| American Assets Trust Inc.              | American Assets Trust Inc. COM                    | CUSIP: 024013104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     54130 | NS      | $996533.29    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| American Homes 4 Rent                   | American Homes 4 Rent COM USD0.01 'A'             | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |    372746 | NS      | $10407068.39  | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Apple Hospitality Reit Inc              | Apple Hospitality Reit Inc COM NEW                | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |    251553 | NS      | $2895375.02   | 0.23%             |  |  |  | No            |                  2 | On Loan: —       |
| CubeSmart (Maryland)                    | CubeSmart (Maryland) COM                          | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    260723 | NS      | $9555498.07   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Diversified Healthcare Trust            | Diversified Healthcare Trust COM SH BEN INT       | CUSIP: 25525P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    249171 | NS      | $1654495.44   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Douglas Emmett Inc                      | Douglas Emmett Inc COM                            | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    191466 | NS      | $1803609.72   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Easterly Government Properties Inc      | Easterly Government Properties Inc COM SHS        | CUSIP: 27616P301<br>LEI: 549300ERMCEFC6S8HL77 | Long             | EC               | CORP              | US        |     50031 | NS      | $1072164.28   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Lifestyle Properties Inc         | Equity Lifestyle Properties Inc COM               | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |    221620 | NS      | $13833520.29  | 1.08%             |  |  |  | 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        |    242672 | NS      | $31821579.17  | 2.49%             |  |  |  | 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        |     89765 | NS      | $9533940.70   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Acadia Realty Trust                     | Acadia Realty Trust COM SH BEN INT                | CUSIP: 004239109<br>LEI: 254900C5XLB1YYJQSH07 | Long             | EC               | CORP              | US        |    149820 | NS      | $2864558.46   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Curbline Properties Corp.               | Curbline Properties Corp. COM                     | CUSIP: 23128Q101<br>LEI: 529900PGR41LH0I81I15 | Long             | EC               | CORP              | US        |    110833 | NS      | $2858383.15   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| EPR Properties                          | EPR Properties COM SH BEN INT                     | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     87054 | NS      | $4349217.93   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Equinix, Inc.                           | Equinix, Inc. COM                                 | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |    112339 | NS      | $110119183.06 | 8.62%             |  |  |  | No            |                  2 | On Loan: No      |
| JBG SMITH Properties                    | JBG SMITH Properties COM                          | CUSIP: 46590V100<br>LEI: 549300HHIW6GDQCPEC54 | Long             | EC               | CORP              | US        |     67664 | NS      | $988571.04    | 0.08%             |  |  |  | No            |                  2 | On Loan: —       |
| Prologis Inc.                           | Prologis Inc. COM USD0.01                         | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |   1062805 | NS      | $140481563.57 | 10.99%            |  |  |  | No            |                  2 | On Loan: No      |
| Ryman Hospitality Properties Inc        | Ryman Hospitality Properties Inc COM              | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |     72036 | NS      | $6646761.74   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Xenia Hotels & Resorts Inc              | Xenia Hotels & Resorts Inc COM                    | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Long             | EC               | CORP              | US        |    108396 | NS      | $1607512.72   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Fermi Inc.                              | Fermi Inc. COM                                    | CUSIP: 314911108<br>LEI: 529900TSHBYBCFMYZ228 | Long             | EC               | CORP              | US        |     35580 | NS      | $207787.20    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| First Industrial Realty Trust, Inc.     | First Industrial Realty Trust, Inc. COM           | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    151520 | NS      | $8765432.21   | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Getty Realty Corp                       | Getty Realty Corp COM                             | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               | CORP              | US        |     62667 | NS      | $1992810.60   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| American Healthcare REIT Inc.           | American Healthcare REIT Inc. COM SHS             | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               | CORP              | US        |    202841 | NS      | $9565981.32   | 0.75%             |  |  |  | No            |                  2 | On Loan: —       |
| Healthpeak Properties Inc               | Healthpeak Properties Inc COM                     | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |    794673 | NS      | $13056477.65  | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Highwoods Properties, Inc.              | Highwoods Properties, Inc. COM                    | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |    125688 | NS      | $2690980.05   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Host Hotels & Resorts Inc               | Host Hotels & Resorts Inc COM                     | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |    731225 | NS      | $14010270.69  | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Independence Realty Trust Inc           | Independence Realty Trust Inc COM                 | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |    270801 | NS      | $4032226.94   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Invitation Homes Inc.                   | Invitation Homes Inc. COM                         | CUSIP: 46187W107<br>LEI: 984500FE452E665C9F85 | Long             | EC               | CORP              | US        |    644821 | NS      | $16023802.05  | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Kilroy Realty Corporation               | Kilroy Realty Corporation COM                     | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |    124650 | NS      | $3516376.51   | 0.28%             |  |  |  | No            |                  2 | On Loan: —       |
| Kimco Realty Corporation                | Kimco Realty Corporation COM                      | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |    770719 | NS      | $17318055.74  | 1.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Kite Realty Group Trust                 | Kite Realty Group Trust COM NEW                   | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    247540 | NS      | $6077107.01   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| LXP Industrial Trust                    | LXP Industrial Trust COM                          | CUSIP: 529043408<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               | CORP              | US        |     67545 | NS      | $3124631.59   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| The Macerich Company                    | The Macerich Company COM                          | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |    292830 | NS      | $5534486.97   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Veris Residential Inc                   | Veris Residential Inc COM                         | CUSIP: 554489104<br>LEI: 254900KTVBRYJCQU2J23 | Long             | EC               | CORP              | US        |     92865 | NS      | $1752362.53   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Medical Properties Trust Inc.           | Medical Properties Trust Inc. COM                 | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               | CORP              | US        |    563930 | NS      | $2610995.85   | 0.20%             |  |  |  | No            |                  2 | On Loan: —       |
| NNN REIT Inc                            | NNN REIT Inc COM                                  | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |    217165 | NS      | $9127444.96   | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| National Storage Affiliates Trust       | National Storage Affiliates Trust COM SHS BEN IN  | CUSIP: 637870106<br>LEI: 529900FS06O8GOYNR108 | Long             | EC               | CORP              | US        |     80927 | NS      | $3054184.94   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Net Lease Office Properties             | Net Lease Office Properties COM                   | CUSIP: 64110Y108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16701 | NS      | $192395.49    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Nexpoint Residential Trust Inc          | Nexpoint Residential Trust Inc COM                | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               | CORP              | US        |     24939 | NS      | $623475.00    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Park Hotels & Resorts Inc.              | Park Hotels & Resorts Inc. COM                    | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |    228551 | NS      | $2406642.02   | 0.19%             |  |  |  | No            |                  2 | On Loan: —       |
| Pebblebrook Hotel Trust                 | Pebblebrook Hotel Trust COM USD0.01 SBI           | CUSIP: 70509V100<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EC               | CORP              | US        |    129879 | NS      | $1640371.78   | 0.13%             |  |  |  | No            |                  2 | On Loan: —       |
| Phillips Edison & Co Inc                | Phillips Edison & Co Inc COMMON STOCK             | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               | CORP              | US        |    143832 | NS      | $5382193.32   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| RLJ Lodging Trust LP                    | RLJ Lodging Trust LP COM                          | CUSIP: 74965L101<br>LEI: 549300RX5I8Z6I6LDZ74 | Long             | EC               | CORP              | US        |    170492 | NS      | $1265050.62   | 0.10%             |  |  |  | No            |                  2 | On Loan: —       |
| Regency Centers Corp.                   | Regency Centers Corp. COM                         | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |    188208 | NS      | $14239817.18  | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| SmartStop Self Storage REIT Inc         | SmartStop Self Storage REIT Inc COMMON STOCK      | CUSIP: 83192D402<br>LEI: 549300EC266625K12S42 | Long             | EC               | CORP              | US        |     63301 | NS      | $1916754.22   | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Terreno Realty Corporation              | Terreno Realty Corporation COM                    | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    119112 | NS      | $7315859.06   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| UMH Properties Inc                      | UMH Properties Inc COM STK USD0.10                | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               | CORP              | US        |     92576 | NS      | $1335871.72   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Urban Edge Properties                   | Urban Edge Properties COM                         | CUSIP: 91704F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    144011 | NS      | $2877339.76   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| W. P. Carey Inc                         | W. P. Carey Inc COM                               | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |    250559 | NS      | $17027989.52  | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Dreyfus Instl Resv                      | Dreyfus Instl Resv PFD GOVT INSTL                 | CUSIP: 26200X100<br>LEI: 549300FG0OZ5YKPLK622 | Long             | STIV             | RF                | US        |  41700347 | PA      | $41700346.56  | 3.26%             | 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.