EMPOWER FUNDS, INC.
EMPOWER S&P SMALL CAP 600® INDEX FUND
Schedule of Investments
As of March 28, 2024 (Unaudited)
Shares | Fair Value | |
COMMON STOCK | ||
Basic Materials — 4.02% | ||
21,303 | AdvanSix Inc | $ 609,266 |
96,362 | ATI Inc(a) | 4,930,843 |
24,250 | Balchem Corp | 3,757,537 |
38,025 | Carpenter Technology Corp | 2,715,745 |
37,981 | Century Aluminum Co(a) | 584,528 |
24,965 | Compass Minerals International Inc | 392,949 |
14,594 | Hawkins Inc | 1,120,819 |
9,801 | Haynes International Inc | 589,236 |
40,699 | HB Fuller Co | 3,245,338 |
26,115 | Ingevity Corp(a) | 1,245,686 |
19,136 | Innospec Inc | 2,467,396 |
12,340 | Kaiser Aluminum Corp | 1,102,702 |
15,851 | Koppers Holdings Inc | 874,500 |
40,244 | Mativ Holdings Inc | 754,575 |
34,029 | Mercer International Inc | 338,589 |
25,277 | Minerals Technologies Inc | 1,902,853 |
10,700 | Quaker Chemical Corp | 2,196,175 |
13,008 | Rogers Corp(a) | 1,543,920 |
32,513 | Sensient Technologies Corp | 2,249,574 |
16,481 | Stepan Co | 1,483,949 |
27,502 | Sylvamo Corp | 1,697,974 |
22,949 | Worthington Steel Inc | 822,722 |
36,626,876 | ||
Communications — 3.57% | ||
54,612 | A10 Networks Inc | 747,638 |
52,886 | ADTRAN Holdings Inc | 287,700 |
23,364 | AMC Networks Inc Class A(a) | 283,405 |
7,883 | ATN International Inc | 248,354 |
45,113 | Calix Inc(a) | 1,495,947 |
65,668 | Cargurus Inc(a) | 1,515,617 |
47,131 | Cars.com Inc(a) | 809,711 |
32,337 | Cogent Communications Holdings Inc | 2,112,576 |
59,451 | Consolidated Communications Holdings Inc(a) | 256,828 |
93,698 | EchoStar Corp Class A(a) | 1,335,197 |
20,714 | ePlus Inc(a) | 1,626,878 |
45,292 | EW Scripps Co Class A(a) | 177,998 |
100,596 | Extreme Networks Inc(a) | 1,160,878 |
48,780 | Gogo Inc(a) | 428,288 |
87,629 | Harmonic Inc(a) | 1,177,734 |
17,876 | HealthStream Inc | 476,574 |
19,780 | InterDigital Inc | 2,105,779 |
16,756 | Liquidity Services Inc(a) | 311,662 |
765,404 | Lumen Technologies Inc(a) | 1,194,030 |
26,786 | Perficient Inc(a) | 1,507,784 |
39,889 | QuinStreet Inc(a) | 704,440 |
20,455 | Scholastic Corp | 771,358 |
39,597 | Shenandoah Telecommunications Co | 687,800 |
18,058 | Shutterstock Inc | 827,237 |
91,001 | Sprinklr Inc Class A(a)(b) | 1,116,582 |
17,802 | TechTarget Inc(a) | 588,890 |
74,304 | Telephone & Data Systems Inc | 1,190,350 |
22,925 | Thryv Holdings Inc(a) | 509,623 |
Shares | Fair Value | |
Communications — (continued) | ||
83,199 | TripAdvisor Inc(a) | $ 2,312,100 |
56,144 | Viasat Inc(a)(b) | 1,015,645 |
169,609 | Viavi Solutions Inc(a) | 1,541,746 |
52,693 | Yelp Inc(a) | 2,076,104 |
32,602,453 | ||
Consumer, Cyclical — 17.11% | ||
38,137 | Abercrombie & Fitch Co Class A(a) | 4,779,710 |
55,825 | Academy Sports & Outdoors Inc | 3,770,421 |
44,447 | Advance Auto Parts Inc | 3,781,995 |
94,758 | Alaska Air Group Inc(a) | 4,073,646 |
10,698 | Allegiant Travel Co | 804,597 |
86,540 | American Axle & Manufacturing Holdings Inc(a) | 636,934 |
142,895 | American Eagle Outfitters Inc | 3,685,262 |
15,835 | Asbury Automotive Group Inc(a) | 3,733,576 |
17,543 | BJ's Restaurants Inc(a) | 634,706 |
64,083 | Bloomin' Brands Inc | 1,837,901 |
22,486 | Boot Barn Holdings Inc(a) | 2,139,543 |
34,155 | Brinker International Inc(a) | 1,696,820 |
22,642 | Buckle Inc | 911,793 |
26,225 | Caleres Inc | 1,076,012 |
5,974 | Cavco Industries Inc(a) | 2,383,984 |
21,878 | Century Communities Inc | 2,111,227 |
36,145 | Cheesecake Factory Inc | 1,306,642 |
13,437 | Chuy's Holdings Inc(a) | 453,230 |
81,943 | Cinemark Holdings Inc(a) | 1,472,516 |
17,206 | Cracker Barrel Old Country Store Inc(b) | 1,251,392 |
97,075 | Dana Inc | 1,232,853 |
24,874 | Dave & Buster's Entertainment Inc(a) | 1,557,112 |
33,898 | Designer Brands Inc Class A(b) | 370,505 |
11,478 | Dine Brands Global Inc | 533,497 |
21,028 | Dorman Products Inc(a) | 2,026,889 |
16,916 | Ethan Allen Interiors Inc | 584,786 |
63,541 | Foot Locker Inc | 1,810,919 |
30,269 | G-III Apparel Group Ltd(a) | 878,104 |
25,241 | Gentherm Inc(a) | 1,453,377 |
30,642 | GMS Inc(a) | 2,982,692 |
16,207 | Golden Entertainment Inc | 596,904 |
19,203 | Green Brick Partners Inc(a) | 1,156,597 |
9,929 | Group 1 Automotive Inc | 2,901,552 |
21,201 | Guess? Inc(b) | 667,196 |
271,928 | Hanesbrands Inc(a) | 1,577,182 |
9,493 | Haverty Furniture Cos Inc | 323,901 |
8,701 | Hibbett Inc | 668,324 |
34,308 | HNI Corp | 1,548,320 |
17,683 | Installed Building Products Inc | 4,575,123 |
45,364 | Interface Inc | 763,023 |
15,178 | Jack in the Box Inc | 1,039,389 |
253,038 | JetBlue Airways Corp(a) | 1,877,542 |
85,198 | Kohl's Corp | 2,483,522 |
38,477 | Kontoor Brands Inc | 2,318,239 |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
EMPOWER S&P SMALL CAP 600® INDEX FUND
Schedule of Investments
As of March 28, 2024 (Unaudited)
Shares | Fair Value | |
Consumer, Cyclical — (continued) | ||
31,087 | La-Z-Boy Inc | $ 1,169,493 |
18,860 | LCI Industries | 2,320,912 |
139,841 | Leslie's Inc(a) | 908,967 |
15,801 | LGI Homes Inc(a) | 1,838,762 |
21,469 | M/I Homes Inc(a) | 2,926,010 |
12,856 | Madison Square Garden Sports Corp(a) | 2,372,189 |
20,305 | Marcus Corp | 289,549 |
15,026 | MarineMax Inc(a) | 499,765 |
45,964 | MDC Holdings Inc | 2,891,595 |
27,512 | Meritage Homes Corp | 4,827,256 |
26,796 | Methode Electronics Inc | 326,375 |
56,438 | MillerKnoll Inc | 1,397,405 |
10,059 | Monarch Casino & Resort Inc | 754,324 |
11,389 | Movado Group Inc | 318,095 |
60,563 | National Vision Holdings Inc(a) | 1,342,076 |
293,247 | Newell Brands Inc | 2,354,773 |
39,077 | Nu Skin Enterprises Inc Class A | 540,435 |
25,241 | ODP Corp(a) | 1,339,035 |
83,227 | OPENLANE Inc(a) | 1,439,827 |
11,146 | Oxford Industries Inc(b) | 1,252,810 |
25,247 | Papa John's International Inc(b) | 1,681,450 |
16,018 | Patrick Industries Inc | 1,913,670 |
8,356 | PC Connection Inc | 550,911 |
36,395 | Phinia Inc | 1,398,660 |
19,301 | PriceSmart Inc | 1,621,284 |
112,421 | Resideo Technologies Inc(a) | 2,520,479 |
47,560 | Rush Enterprises Inc Class A | 2,545,411 |
79,107 | Sally Beauty Holdings Inc(a) | 982,509 |
18,658 | ScanSource Inc(a) | 821,698 |
28,853 | Shake Shack Inc Class A(a) | 3,001,578 |
13,588 | Shoe Carnival Inc | 497,864 |
34,104 | Signet Jewelers Ltd | 3,412,787 |
56,030 | Six Flags Entertainment Corp(a) | 1,474,710 |
31,624 | SkyWest Inc(a) | 2,184,586 |
10,981 | Sonic Automotive Inc Class A | 625,258 |
95,906 | Sonos Inc(a) | 1,827,968 |
13,975 | Standard Motor Products Inc | 468,861 |
52,011 | Steven Madden Ltd | 2,199,025 |
29,492 | Sun Country Airlines Holdings Inc(a) | 445,034 |
38,041 | Titan International Inc(a) | 473,991 |
110,034 | Topgolf Callaway Brands Corp(a) | 1,779,250 |
74,686 | Tri Pointe Homes Inc(a) | 2,887,361 |
11,701 | UniFirst Corp | 2,029,304 |
43,771 | Urban Outfitters Inc(a) | 1,900,537 |
60,205 | Victoria's Secret & Co(a) | 1,166,773 |
43,941 | Vista Outdoor Inc(a) | 1,440,386 |
34,843 | Wabash National Corp | 1,043,199 |
22,627 | Winnebago Industries Inc | 1,674,398 |
60,698 | Wolverine World Wide Inc | 680,425 |
16,334 | XPEL Inc(a) | 882,363 |
31,365 | Xperi Inc(a) | 378,262 |
156,089,100 |
Shares | Fair Value | |
Consumer, Non-Cyclical — 16.53% | ||
48,339 | ABM Industries Inc | $ 2,156,886 |
63,763 | AdaptHealth Corp(a) | 733,912 |
12,137 | Addus HomeCare Corp(a) | 1,254,238 |
30,172 | Adtalem Global Education Inc(a) | 1,550,841 |
28,974 | Agiliti Inc(a) | 293,217 |
38,469 | Alarm.com Holdings Inc(a) | 2,787,848 |
125,240 | Alkermes PLC(a) | 3,390,247 |
29,177 | AMN Healthcare Services Inc(a) | 1,823,854 |
28,782 | Amphastar Pharmaceuticals Inc(a) | 1,263,818 |
24,386 | Andersons Inc | 1,399,025 |
11,699 | ANI Pharmaceuticals Inc(a) | 808,752 |
32,844 | Apollo Medical Holdings Inc(a) | 1,379,120 |
40,881 | Arcus Biosciences Inc(a) | 771,833 |
73,749 | Arlo Technologies Inc(a) | 932,922 |
30,446 | Artivion Inc(a) | 644,237 |
35,190 | Avanos Medical Inc(a) | 700,633 |
58,456 | B&G Foods Inc(b) | 668,737 |
27,967 | BioLife Solutions Inc(a) | 518,788 |
14,049 | Calavo Growers Inc | 390,703 |
31,319 | Cal-Maine Foods Inc | 1,843,123 |
86,986 | Catalyst Pharmaceuticals Inc(a) | 1,386,557 |
7,202 | Central Garden & Pet Co(a) | 308,462 |
41,213 | Central Garden & Pet Co Class A(a) | 1,521,584 |
83,182 | Certara Inc(a) | 1,487,294 |
27,139 | Chefs' Warehouse Inc(a) | 1,022,055 |
24,819 | Collegium Pharmaceutical Inc(a) | 963,474 |
23,672 | CONMED Corp | 1,895,654 |
70,230 | Corcept Therapeutics Inc(a) | 1,769,094 |
88,091 | CoreCivic Inc(a) | 1,375,100 |
6,687 | CorVel Corp(a) | 1,758,413 |
25,276 | Cross Country Healthcare Inc(a) | 473,167 |
73,155 | Cytek Biosciences Inc(a) | 490,870 |
33,161 | Deluxe Corp | 682,785 |
97,419 | Dynavax Technologies Corp(a) | 1,208,970 |
38,182 | Edgewell Personal Care Co | 1,475,352 |
44,880 | Embecta Corp | 595,558 |
36,829 | Enhabit Inc(a) | 429,058 |
42,537 | Ensign Group Inc | 5,292,454 |
47,983 | EVERTEC Inc | 1,914,522 |
68,349 | Fortrea Holdings Inc(a) | 2,743,529 |
25,495 | Fresh Del Monte Produce Inc | 660,575 |
14,693 | Fulgent Genetics Inc(a) | 318,838 |
92,882 | GEO Group Inc(a)(b) | 1,311,494 |
37,554 | Glaukos Corp(a) | 3,540,967 |
32,705 | Green Dot Corp Class A(a) | 305,138 |
66,762 | Hain Celestial Group Inc(a) | 524,749 |
24,451 | Harmony Biosciences Holdings Inc(a) | 821,065 |
55,827 | Healthcare Services Group Inc(a) | 696,721 |
14,732 | Heidrick & Struggles International Inc | 495,879 |
14,900 | ICU Medical Inc(a) | 1,599,068 |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
EMPOWER S&P SMALL CAP 600® INDEX FUND
Schedule of Investments
As of March 28, 2024 (Unaudited)
Shares | Fair Value | |
Consumer, Non-Cyclical — (continued) | ||
39,404 | Inari Medical Inc(a) | $ 1,890,604 |
41,572 | Innoviva Inc(a) | 633,557 |
25,648 | Integer Holdings Corp(a) | 2,992,609 |
13,837 | Inter Parfums Inc | 1,944,237 |
107,157 | Ironwood Pharmaceuticals Inc(a) | 933,337 |
12,047 | J & J Snack Foods Corp | 1,741,514 |
7,008 | John B Sanfilippo & Son Inc | 742,287 |
32,797 | John Wiley & Sons Inc Class A | 1,250,550 |
24,167 | Kelly Services Inc Class A | 605,142 |
40,432 | Korn Ferry | 2,658,808 |
14,870 | LeMaitre Vascular Inc | 986,773 |
12,455 | Ligand Pharmaceuticals Inc(a) | 910,460 |
50,931 | LiveRamp Holdings Inc(a) | 1,757,119 |
22,813 | Matthews International Corp Class A | 709,028 |
8,383 | Medifast Inc | 321,237 |
44,491 | Merit Medical Systems Inc(a) | 3,370,193 |
11,686 | MGP Ingredients Inc | 1,006,515 |
71,609 | Mister Car Wash Inc(a)(b) | 554,970 |
9,328 | ModivCare Inc(a) | 218,742 |
23,529 | Monro Inc | 742,105 |
68,732 | Myriad Genetics Inc(a) | 1,465,366 |
18,008 | National Beverage Corp(a) | 854,660 |
10,093 | National HealthCare Corp | 953,889 |
98,642 | NeoGenomics Inc(a) | 1,550,652 |
34,713 | Omnicell Inc(a) | 1,014,661 |
54,662 | OraSure Technologies Inc(a) | 336,171 |
191,841 | Organon & Co | 3,606,611 |
59,385 | Owens & Minor Inc(a) | 1,645,558 |
35,057 | Pacira BioSciences Inc(a) | 1,024,365 |
63,571 | Patterson Cos Inc | 1,757,738 |
205,051 | Payoneer Global Inc(a) | 996,548 |
62,528 | Pediatrix Medical Group Inc(a) | 627,156 |
51,444 | Perdoceo Education Corp | 903,357 |
14,137 | Phibro Animal Health Corp Class A | 182,791 |
92,205 | Premier Inc Class A | 2,037,730 |
38,207 | Prestige Consumer Healthcare Inc(a) | 2,772,300 |
34,983 | PROG Holdings Inc | 1,204,814 |
25,918 | Quanex Building Products Corp | 996,029 |
49,758 | RadNet Inc(a) | 2,421,224 |
30,933 | REGENXBIO Inc(a) | 651,758 |
24,351 | Resources Connection Inc | 320,459 |
281,523 | Sabre Corp(a) | 681,286 |
78,413 | Select Medical Holdings Corp | 2,364,152 |
69,897 | Simply Good Foods Co(a) | 2,378,595 |
25,679 | SpartanNash Co | 518,973 |
37,600 | STAAR Surgical Co(a) | 1,439,328 |
15,994 | Strategic Education Inc | 1,665,295 |
30,620 | Stride Inc(a) | 1,930,591 |
42,396 | Supernus Pharmaceuticals Inc(a) | 1,446,128 |
48,225 | Tandem Diabetes Care Inc(a) | 1,707,647 |
13,559 | Tootsie Roll Industries Inc | 434,292 |
38,684 | TreeHouse Foods Inc(a) | 1,506,742 |
5,132 | UFP Technologies Inc(a) | 1,294,290 |
Shares | Fair Value | |
Consumer, Non-Cyclical — (continued) | ||
47,174 | United Natural Foods Inc(a) | $ 542,029 |
19,246 | Universal Corp | 995,403 |
33,885 | Upbound Group Inc | 1,193,091 |
11,363 | US Physical Therapy Inc | 1,282,542 |
8,258 | USANA Health Sciences Inc(a) | 400,513 |
29,726 | Varex Imaging Corp(a) | 538,041 |
102,996 | Vector Group Ltd | 1,128,836 |
36,881 | Vericel Corp(a) | 1,918,550 |
101,151 | Vestis Corp | 1,949,180 |
15,503 | Viad Corp(a) | 612,213 |
67,609 | Vir Biotechnology Inc(a) | 684,879 |
10,120 | WD-40 Co | 2,563,497 |
49,809 | WK Kellogg Co | 936,409 |
46,353 | Xencor Inc(a) | 1,025,792 |
150,813,098 | ||
Energy — 6.26% | ||
8,882 | Alpha Metallurgical Resources Inc | 2,941,452 |
14,136 | Arch Resources Inc | 2,272,927 |
106,169 | Archrock Inc | 2,088,344 |
17,701 | Bristow Group Inc(a) | 481,467 |
49,639 | California Resources Corp | 2,735,109 |
70,061 | Comstock Resources Inc(b) | 650,166 |
20,563 | CONSOL Energy Inc | 1,722,357 |
35,969 | Core Laboratories Inc | 614,350 |
22,080 | CVR Energy Inc | 787,373 |
82,379 | DNOW Inc(a)(b) | 1,252,161 |
25,501 | Dril-Quip Inc(a) | 574,538 |
50,072 | Green Plains Inc(a) | 1,157,665 |
110,758 | Helix Energy Solutions Group Inc(a) | 1,200,617 |
73,920 | Helmerich & Payne Inc | 3,109,075 |
116,725 | Liberty Energy Inc | 2,418,542 |
138,982 | Magnolia Oil & Gas Corp Class A(b) | 3,606,583 |
6,792 | Nabors Industries Ltd(a) | 584,995 |
68,253 | Northern Oil & Gas Inc | 2,708,279 |
77,927 | Oceaneering International Inc(a) | 1,823,492 |
42,810 | Par Pacific Holdings Inc(a) | 1,586,539 |
247,262 | Patterson-UTI Energy Inc | 2,952,308 |
84,983 | Peabody Energy Corp | 2,061,688 |
66,403 | ProPetro Holding Corp(a) | 536,536 |
12,174 | REX American Resources Corp(a) | 714,736 |
62,622 | RPC Inc | 484,694 |
87,207 | SM Energy Co | 4,347,269 |
42,532 | SolarEdge Technologies Inc(a) | 3,018,921 |
62,734 | SunCoke Energy Inc | 707,012 |
62,966 | SunPower Corp(a)(b) | 188,898 |
166,312 | Sunrun Inc(a) | 2,191,992 |
104,352 | Talos Energy Inc(a) | 1,453,623 |
58,011 | US Silica Holdings Inc(a) | 719,917 |
18,925 | Vital Energy Inc(a) | 994,319 |
40,031 | Warrior Met Coal Inc | 2,429,882 |
57,117,826 |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
EMPOWER S&P SMALL CAP 600® INDEX FUND
Schedule of Investments
As of March 28, 2024 (Unaudited)
Shares | Fair Value | |
Financial — 24.91% | ||
74,346 | Acadia Realty Trust REIT | $ 1,264,625 |
77,569 | Air Lease Corp | 3,990,149 |
56,867 | Alexander & Baldwin Inc REIT | 936,600 |
33,743 | Ambac Financial Group Inc(a) | 527,403 |
37,515 | American Assets Trust Inc REIT | 821,954 |
46,751 | American Equity Investment Life Holding Co(a) | 2,628,341 |
48,161 | Ameris Bancorp | 2,330,029 |
14,409 | AMERISAFE Inc | 722,900 |
80,493 | Anywhere Real Estate Inc(a) | 497,447 |
98,894 | Apollo Commercial Real Estate Finance Inc REIT | 1,101,679 |
163,804 | Apple Hospitality Inc REIT | 2,683,110 |
144,922 | Arbor Realty Trust Inc REIT(b) | 1,920,217 |
52,954 | Armada Hoffler Properties Inc REIT | 550,722 |
37,721 | ARMOUR Residential Inc REIT(b) | 745,744 |
52,819 | Artisan Partners Asset Management Inc Class A | 2,417,526 |
40,881 | Assured Guaranty Ltd | 3,566,867 |
58,162 | Atlantic Union Bankshares Corp | 2,053,700 |
39,149 | Axos Financial Inc(a) | 2,115,612 |
13,016 | B Riley Financial Inc(b) | 275,549 |
101,715 | Banc of California Inc | 1,547,085 |
11,356 | BancFirst Corp | 999,669 |
41,255 | Bancorp Inc(a) | 1,380,392 |
30,296 | Bank of Hawaii Corp | 1,890,168 |
57,343 | BankUnited Inc | 1,605,604 |
26,543 | Banner Corp | 1,274,064 |
32,604 | Berkshire Hills Bancorp Inc | 747,284 |
297,655 | BGC Group Inc | 2,312,779 |
128,528 | Blackstone Mortgage Trust Inc Class A REIT (b) | 2,558,992 |
132,174 | Brandywine Realty Trust REIT | 634,435 |
38,176 | Bread Financial Holdings Inc | 1,421,674 |
25,704 | Brightsphere Investment Group Inc | 587,079 |
66,181 | Brookline Bancorp Inc | 659,163 |
98,334 | Capitol Federal Financial Inc | 586,071 |
100,429 | CareTrust Inc REIT | 2,447,455 |
55,907 | Cathay General Bancorp | 2,114,962 |
11,679 | Centerspace REIT | 667,338 |
21,206 | Central Pacific Financial Corp | 418,819 |
36,876 | Chatham Lodging Trust REIT | 372,816 |
11,494 | City Holding Co | 1,197,905 |
39,482 | Community Bank System Inc | 1,896,320 |
18,650 | Community Healthcare Trust Inc REIT | 495,158 |
130,514 | Cushman & Wakefield PLC(a) | 1,365,176 |
22,113 | Customers Bancorp Inc(a) | 1,173,316 |
97,779 | CVB Financial Corp | 1,744,377 |
162,723 | DiamondRock Hospitality Co REIT | 1,563,768 |
26,291 | Dime Community Bancshares Inc | 506,365 |
123,010 | Douglas Emmett Inc REIT | 1,706,149 |
22,507 | Eagle Bancorp Inc | 528,689 |
Shares | Fair Value | |
Financial — (continued) | ||
71,457 | Easterly Government Properties Inc REIT | $ 822,470 |
59,639 | Ellington Financial Inc REIT(b) | 704,337 |
66,202 | Elme Communities REIT | 921,532 |
19,319 | Employers Holdings Inc | 876,889 |
17,747 | Encore Capital Group Inc(a) | 809,441 |
22,642 | Enova International Inc(a) | 1,422,597 |
116,611 | Essential Properties Realty Trust Inc REIT | 3,108,849 |
56,462 | eXp World Holdings Inc(b) | 583,252 |
39,794 | EZCORP Inc Class A(a) | 450,866 |
26,633 | FB Financial Corp | 1,002,999 |
29,748 | First Bancorp | 1,074,498 |
125,101 | First BanCorp | 2,194,272 |
79,574 | First Commonwealth Financial Corp | 1,107,670 |
73,498 | First Financial Bancorp | 1,647,825 |
98,209 | First Hawaiian Inc | 2,156,670 |
69,894 | Four Corners Property Trust Inc REIT | 1,710,306 |
61,774 | Franklin BSP Realty Trust Inc REIT | 825,301 |
125,988 | Fulton Financial Corp | 2,001,949 |
347,071 | Genworth Financial Inc Class A(a) | 2,231,667 |
37,783 | Getty Realty Corp REIT | 1,033,365 |
152,105 | Global Net Lease Inc REIT | 1,181,856 |
18,889 | Goosehead Insurance Inc Class A(a) | 1,258,385 |
22,699 | Hanmi Financial Corp | 361,368 |
85,593 | Hannon Armstrong Sustainable Infrastructure Capital Inc REIT | 2,430,841 |
5,246 | HCI Group Inc | 608,956 |
26,376 | Heritage Financial Corp | 511,431 |
81,513 | Highwoods Properties Inc REIT | 2,134,010 |
35,898 | Hilltop Holdings Inc | 1,124,325 |
91,598 | Hope Bancorp Inc | 1,054,293 |
31,761 | Horace Mann Educators Corp | 1,174,839 |
99,216 | Hudson Pacific Properties Inc REIT | 639,943 |
31,592 | Independent Bank Corp | 1,643,416 |
27,821 | Independent Bank Group Inc | 1,270,029 |
21,576 | Innovative Industrial Properties Inc REIT | 2,233,979 |
54,449 | Jackson Financial Inc Class A | 3,601,257 |
65,833 | JBG SMITH Properties REIT | 1,056,620 |
92,090 | Kennedy-Wilson Holdings Inc | 790,132 |
43,005 | KKR Real Estate Finance Trust Inc REIT | 432,630 |
19,132 | Lakeland Financial Corp | 1,268,834 |
127,431 | Lincoln National Corp | 4,068,872 |
32,189 | LTC Properties Inc REIT | 1,046,464 |
217,125 | LXP Industrial Trust REIT | 1,958,468 |
166,382 | Macerich Co REIT | 2,866,762 |
18,237 | Marcus & Millichap Inc | 623,158 |
460,959 | Medical Properties Trust Inc REIT(b) | 2,166,507 |
19,918 | Mercury General Corp | 1,027,769 |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
EMPOWER S&P SMALL CAP 600® INDEX FUND
Schedule of Investments
As of March 28, 2024 (Unaudited)
Shares | Fair Value | |
Financial — (continued) | ||
49,789 | Moelis & Co Class A | $ 2,826,522 |
48,557 | Mr Cooper Group Inc(a) | 3,785,018 |
27,155 | National Bank Holdings Corp Class A | 979,481 |
64,105 | Navient Corp | 1,115,427 |
36,498 | NBT Bancorp Inc | 1,338,747 |
67,633 | New York Mortgage Trust Inc REIT | 486,958 |
17,503 | NexPoint Residential Trust Inc REIT | 563,422 |
62,395 | NMI Holdings Inc Class A(a) | 2,017,854 |
31,852 | Northfield Bancorp Inc | 309,601 |
96,753 | Northwest Bancshares Inc | 1,127,172 |
35,625 | OFG Bancorp | 1,311,356 |
112,560 | Outfront Media Inc REIT | 1,889,882 |
74,186 | Pacific Premier Bancorp Inc | 1,780,464 |
19,071 | Palomar Holdings Inc(a) | 1,598,722 |
11,116 | Park National Corp | 1,510,109 |
19,512 | Pathward Financial Inc | 984,966 |
92,608 | Pebblebrook Hotel Trust REIT | 1,427,089 |
65,986 | PennyMac Mortgage Investment Trust REIT | 968,674 |
91,444 | Phillips Edison & Co Inc REIT | 3,280,096 |
11,697 | Piper Sandler Cos | 2,321,738 |
17,253 | PJT Partners Inc Class A | 1,626,268 |
30,262 | PRA Group Inc(a) | 789,233 |
9,643 | Preferred Bank | 740,293 |
40,348 | ProAssurance Corp | 518,875 |
56,777 | Provident Financial Services Inc | 827,241 |
115,189 | Radian Group Inc | 3,855,376 |
120,073 | Ready Capital Corp REIT | 1,096,266 |
101,195 | Redwood Trust Inc REIT(a) | 644,612 |
43,689 | Renasant Corp | 1,368,340 |
97,808 | Retail Opportunity Investments Corp REIT | 1,253,899 |
29,076 | S&T Bancorp Inc | 932,758 |
33,672 | Safehold Inc REIT | 693,643 |
11,522 | Safety Insurance Group Inc | 946,993 |
9,706 | Saul Centers Inc REIT | 373,584 |
61,830 | Seacoast Banking Corp of Florida | 1,569,864 |
125,644 | Service Properties Trust REIT | 851,866 |
36,578 | ServisFirst Bancshares Inc | 2,427,316 |
96,605 | Simmons First National Corp Class A | 1,879,933 |
70,665 | SiriusPoint Ltd(a) | 898,152 |
138,481 | SITE Centers Corp REIT | 2,028,747 |
48,458 | SL Green Realty Corp REIT | 2,671,490 |
21,966 | Southside Bancshares Inc | 642,066 |
26,118 | St Joe Co | 1,514,061 |
35,761 | Stellar Bancorp Inc | 871,138 |
20,741 | Stewart Information Services Corp | 1,349,409 |
20,994 | StoneX Group Inc(a) | 1,475,038 |
81,333 | Summit Hotel Properties Inc REIT | 529,478 |
158,316 | Sunstone Hotel Investors Inc REIT | 1,763,640 |
82,945 | Tanger Inc REIT | 2,449,366 |
Shares | Fair Value | |
Financial — (continued) | ||
9,342 | Tompkins Financial Corp | $ 469,809 |
16,770 | Triumph Financial Inc(a) | 1,330,196 |
27,416 | Trupanion Inc(a)(b) | 756,956 |
13,888 | TrustCo Bank Corp NY | 391,086 |
47,483 | Trustmark Corp | 1,334,747 |
79,422 | Two Harbors Investment Corp REIT | 1,051,547 |
91,883 | United Community Banks Inc | 2,418,361 |
16,194 | United Fire Group Inc | 352,543 |
185,336 | Uniti Group Inc REIT | 1,093,482 |
9,255 | Universal Health Realty Income Trust REIT | 339,751 |
91,369 | Urban Edge Properties REIT | 1,577,943 |
62,487 | Veris Residential Inc REIT | 950,427 |
40,492 | Veritex Holdings Inc | 829,681 |
5,131 | Virtus Investment Partners Inc | 1,272,385 |
52,676 | WaFd Inc | 1,529,184 |
25,760 | Walker & Dunlop Inc | 2,603,306 |
20,809 | Westamerica BanCorp | 1,017,144 |
35,568 | Whitestone REIT | 446,378 |
84,585 | WisdomTree Inc | 777,336 |
2,461 | World Acceptance Corp(a) | 356,796 |
46,920 | WSFS Financial Corp | 2,117,969 |
79,206 | Xenia Hotels & Resorts Inc REIT | 1,188,882 |
227,193,297 | ||
Industrial — 17.10% | ||
50,860 | AAON Inc(a) | 4,480,766 |
25,644 | AAR Corp(a) | 1,535,306 |
27,947 | Advanced Energy Industries Inc | 2,850,035 |
21,540 | AeroVironment Inc(a) | 3,301,651 |
7,937 | Alamo Group Inc | 1,812,255 |
24,011 | Albany International Corp Class A | 2,245,269 |
12,154 | American Woodmark Corp(a) | 1,235,576 |
17,226 | Apogee Enterprises Inc | 1,019,779 |
18,210 | ArcBest Corp | 2,594,925 |
37,524 | Arcosa Inc | 3,221,811 |
33,281 | Armstrong World Industries Inc | 4,134,166 |
17,077 | Astec Industries Inc | 746,436 |
19,442 | AZZ Inc | 1,503,061 |
22,625 | Badger Meter Inc | 3,660,951 |
37,002 | Barnes Group Inc | 1,374,624 |
26,570 | Benchmark Electronics Inc | 797,366 |
29,855 | Boise Cascade Co | 4,578,861 |
34,471 | Brady Corp Class A | 2,043,441 |
13,136 | Clearwater Paper Corp(a) | 574,437 |
24,149 | CTS Corp | 1,129,932 |
25,638 | Dorian LPG Ltd | 986,037 |
9,836 | DXP Enterprises Inc(a) | 528,488 |
22,578 | Dycom Industries Inc(a) | 3,240,620 |
12,141 | Encore Wire Corp | 3,190,412 |
48,764 | Energizer Holdings Inc | 1,435,612 |
41,673 | Enerpac Tool Group Corp | 1,486,059 |
15,641 | EnPro Inc | 2,639,732 |
59,883 | Enviri Corp(a) | 547,929 |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
EMPOWER S&P SMALL CAP 600® INDEX FUND
Schedule of Investments
As of March 28, 2024 (Unaudited)
Shares | Fair Value | |
Industrial — (continued) | ||
19,135 | ESCO Technologies Inc | $ 2,048,402 |
27,482 | Fabrinet(a) | 5,194,648 |
46,888 | Federal Signal Corp | 3,979,385 |
24,185 | Forward Air Corp | 752,395 |
29,816 | Franklin Electric Co Inc | 3,184,647 |
61,273 | Frontdoor Inc(a) | 1,996,274 |
23,586 | Gibraltar Industries Inc(a) | 1,899,381 |
32,505 | Granite Construction Inc | 1,857,011 |
24,216 | Greenbrier Cos Inc | 1,261,654 |
29,457 | Griffon Corp | 2,160,376 |
98,053 | Hayward Holdings Inc(a) | 1,501,191 |
33,788 | Heartland Express Inc | 403,429 |
54,086 | Hillenbrand Inc | 2,719,985 |
48,139 | Hub Group Inc Class A | 2,080,568 |
22,889 | Ichor Holdings Ltd(a) | 883,973 |
14,594 | Insteel Industries Inc | 557,783 |
34,016 | Itron Inc(a) | 3,147,160 |
24,501 | John Bean Technologies Corp | 2,569,910 |
22,132 | Kaman Corp | 1,015,195 |
61,108 | Kennametal Inc | 1,524,034 |
68,937 | Knowles Corp(a) | 1,109,886 |
8,603 | Lindsay Corp | 1,012,229 |
43,229 | Marten Transport Ltd | 798,872 |
96,571 | Masterbrand Inc(a) | 1,809,741 |
15,906 | Materion Corp | 2,095,615 |
26,095 | Matson Inc(a) | 2,933,078 |
40,539 | Mercury Systems Inc(a) | 1,195,900 |
4,133 | Mesa Laboratories Inc | 453,514 |
21,580 | Moog Inc Class A | 3,445,247 |
85,690 | Mueller Industries Inc | 4,621,262 |
27,537 | Myers Industries Inc | 638,032 |
12,410 | MYR Group Inc(a) | 2,193,467 |
3,779 | National Presto Industries Inc | 316,680 |
9,076 | NV5 Global Inc(a) | 889,539 |
120,115 | O-I Glass Inc(a) | 1,992,708 |
7,359 | Olympic Steel Inc | 521,606 |
12,166 | OSI Systems Inc(a) | 1,737,548 |
20,459 | Plexus Corp(a) | 1,939,922 |
7,168 | Powell Industries Inc | 1,020,006 |
19,399 | Proto Labs Inc(a) | 693,514 |
90,687 | RXO Inc(a) | 1,983,325 |
42,922 | Sanmina Corp(a) | 2,668,890 |
108,671 | Sealed Air Corp | 4,042,561 |
34,384 | SPX Technologies Inc(a) | 4,233,702 |
9,165 | Standex International Corp | 1,670,046 |
13,311 | Sturm Ruger & Co Inc | 614,303 |
14,423 | Tennant Co | 1,753,981 |
30,311 | TimkenSteel Corp(a) | 674,420 |
63,643 | Trinity Industries Inc | 1,772,458 |
60,593 | Triumph Group Inc(a) | 911,319 |
79,488 | TTM Technologies Inc(a) | 1,243,987 |
16,929 | Vicor Corp(a) | 647,365 |
47,008 | World Kinect Corp | 1,243,362 |
23,711 | Worthington Enterprises Inc | 1,475,535 |
155,986,558 | ||
Technology — 7.62% | ||
104,479 | 3D Systems Corp(a) | 463,887 |
Shares | Fair Value | |
Technology — (continued) | ||
83,889 | ACI Worldwide Inc(a) | $ 2,785,954 |
82,419 | Adeia Inc | 900,015 |
15,290 | Agilysys Inc(a) | 1,288,335 |
18,539 | Alpha & Omega Semiconductor Ltd(a) | 408,600 |
25,153 | Axcelis Technologies Inc(a) | 2,805,063 |
39,135 | Blackline Inc(a) | 2,527,338 |
110,501 | Box Inc Class A(a) | 3,129,388 |
33,370 | Cerence Inc(a) | 525,577 |
18,597 | CEVA Inc(a) | 422,338 |
36,809 | Cohu Inc(a) | 1,226,844 |
33,034 | Corsair Gaming Inc(a) | 407,639 |
21,886 | CSG Systems International Inc | 1,128,004 |
28,173 | Digi International Inc(a) | 899,564 |
34,188 | Diodes Inc(a) | 2,410,254 |
18,785 | Donnelley Financial Solutions Inc(a) | 1,164,858 |
104,764 | DoubleVerify Holdings Inc(a) | 3,683,502 |
136,653 | DXC Technology Co(a) | 2,898,410 |
38,276 | Envestnet Inc(a) | 2,216,563 |
58,035 | FormFactor Inc(a) | 2,648,137 |
21,310 | Insight Enterprises Inc(a) | 3,953,431 |
43,342 | Kulicke & Soffa Industries Inc | 2,180,536 |
57,968 | MaxLinear Inc(a) | 1,082,263 |
51,838 | N-able Inc(a) | 677,523 |
50,891 | NCR Atleos Corp(a) | 1,005,097 |
97,733 | NCR Voyix Corp(a) | 1,234,368 |
55,026 | NetScout Systems Inc(a) | 1,201,768 |
22,795 | PDF Solutions Inc(a) | 767,508 |
48,468 | Photronics Inc(a) | 1,372,614 |
113,909 | Pitney Bowes Inc | 493,226 |
79,452 | Privia Health Group Inc(a) | 1,556,465 |
32,373 | Progress Software Corp | 1,725,805 |
41,666 | Schrodinger Inc(a) | 1,124,982 |
50,171 | Semtech Corp(a) | 1,379,201 |
11,812 | Simulations Plus Inc | 486,064 |
13,474 | SiTime Corp(a) | 1,256,181 |
40,534 | SMART Global Holdings Inc(a) | 1,066,855 |
27,735 | SPS Commerce Inc(a) | 5,128,202 |
14,817 | TTEC Holdings Inc | 153,652 |
32,937 | Ultra Clean Holdings Inc(a) | 1,513,126 |
43,755 | Veeco Instruments Inc(a) | 1,538,863 |
124,767 | Verra Mobility Corp(a) | 3,115,432 |
86,477 | Xerox Holdings Corp | 1,547,938 |
69,501,370 | ||
Utilities — 2.05% | ||
28,459 | American States Water Co | 2,055,878 |
59,662 | Avista Corp | 2,089,363 |
44,566 | California Water Service Group | 2,071,428 |
17,174 | Chesapeake Utilities Corp | 1,842,770 |
27,275 | Clearway Energy Inc Class A | 586,685 |
59,566 | Clearway Energy Inc Class C | 1,372,996 |
27,829 | MGE Energy Inc(b) | 2,190,699 |
13,429 | Middlesex Water Co | 705,022 |
28,618 | Northwest Natural Holding Co | 1,065,162 |
32,204 | Otter Tail Corp | 2,782,426 |
22,013 | SJW Group | 1,245,716 |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
EMPOWER S&P SMALL CAP 600® INDEX FUND
Schedule of Investments
As of March 28, 2024 (Unaudited)
Shares | Fair Value | |
Utilities — (continued) | ||
12,570 | Unitil Corp | $ 658,040 |
18,666,185 | ||
TOTAL COMMON STOCK — 99.17% (Cost $789,161,881) | $904,596,763 | |
Principal Amount | ||
SHORT TERM INVESTMENTS | ||
Repurchase Agreements — 2.28% | ||
$5,185,817 | Undivided interest of 2.90% in a repurchase agreement (principal amount/value $179,328,251 with a maturity value of $179,434,652) with Citigroup Global Markets Inc, 5.34%, dated 3/28/24 to be repurchased at $5,185,817 on 4/1/24 collateralized by Government National Mortgage Association securities, 2.00% - 6.50%, 9/20/44 - 1/20/54, with a value of $182,914,816.(c) | 5,185,817 |
5,185,817 | Undivided interest of 2.91% in a repurchase agreement (principal amount/value $178,876,340 with a maturity value of $178,982,473) with HSBC Securities (USA) Inc, 5.34%, dated 3/28/24 to be repurchased at $5,185,817 on 4/1/24 collateralized by various U.S. Government Agency securities, 1.50% - 7.50%, 1/1/31 - 8/1/59, with a value of $182,453,867.(c) | 5,185,817 |
5,185,817 | Undivided interest of 2.93% in a repurchase agreement (principal amount/value $177,916,671 with a maturity value of $178,022,037) with RBC Capital Markets Corp, 5.33%, dated 3/28/24 to be repurchased at $5,185,817 on 4/1/24 collateralized by U.S. Treasury securities and various U.S. Government Agency securities, 0.00% - 8.00%, 4/4/24 - 3/1/54, with a value of $181,475,005.(c) | 5,185,817 |
Principal Amount | Fair Value | |
Repurchase Agreements — (continued) | ||
$5,185,817 | Undivided interest of 3.77% in a repurchase agreement (principal amount/value $138,121,676 with a maturity value of $138,203,475) with Bank of Montreal, 5.33%, dated 3/28/24 to be repurchased at $5,185,817 on 4/1/24 collateralized by Federal National Mortgage Association securities, 3.50% - 7.00%, 8/1/33 - 3/1/54, with a value of $140,884,109.(c) | $ 5,185,817 |
TOTAL SHORT TERM INVESTMENTS — 2.28% (Cost $20,743,268) | $20,743,268 | |
TOTAL INVESTMENTS — 101.45% (Cost $809,905,149) | $925,340,031 | |
OTHER ASSETS & LIABILITIES, NET — (1.45)% | $(13,189,907) | |
TOTAL NET ASSETS — 100.00% | $912,150,124 |
(a) | Non-income producing security. |
(b) | All or a portion of the security is on loan at March 28, 2024. |
(c) | Collateral received for securities on loan. |
REIT | Real Estate Investment Trust |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
EMPOWER S&P SMALL CAP 600® INDEX FUND
Schedule of Investments
As of March 28, 2024 (Unaudited)
At March 28, 2024 the Fund held the following outstanding exchange traded futures contracts: | |||||
Description | Number of Contracts | Notional Amount (000) | Expiration Date | Fair Value and Net Unrealized Appreciation | |
Long | |||||
Russell 2000 E-mini Futures | 85 | USD | 9,120 | Jun 2024 | $122,771 |
Net Appreciation | $122,771 |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
EMPOWER SMALL CAP GROWTH FUND
Schedule of Investments
As of March 28, 2024 (Unaudited)
Shares | Fair Value | |
COMMON STOCK | ||
Basic Materials — 3.18% | ||
70,611 | Element Solutions Inc | $ 1,763,863 |
39,949 | Orion SA | 939,600 |
6,006 | Rogers Corp(a) | 712,852 |
6,872 | Steel Dynamics Inc | 1,018,637 |
4,434,952 | ||
Communications — 1.89% | ||
22,891 | Ciena Corp(a) | 1,131,960 |
8,567 | Couchbase Inc(a) | 225,398 |
14,697 | Credo Technology Group Holding Ltd(a) | 311,429 |
1,078 | Criteo SA Sponsored ADR(a) | 37,805 |
40,929 | DigitalBridge Group Inc | 788,702 |
11,745 | Upwork Inc(a) | 143,994 |
2,639,288 | ||
Consumer, Cyclical — 11.12% | ||
16,251 | Academy Sports & Outdoors Inc | 1,097,592 |
8,262 | Blue Bird Corp(a) | 316,765 |
8,467 | Boot Barn Holdings Inc(a) | 805,635 |
28,007 | Bowlero Corp Class A(b) | 383,696 |
3,893 | Burlington Stores Inc(a) | 903,916 |
18,180 | Core & Main Inc Class A(a) | 1,040,805 |
17,264 | First Watch Restaurant Group Inc(a) | 425,040 |
5,520 | Five Below Inc(a) | 1,001,218 |
6,973 | Green Brick Partners Inc(a) | 419,984 |
62,117 | International Game Technology PLC | 1,403,223 |
2,602 | Kura Sushi USA Inc Class A(a)(b) | 299,646 |
56,974 | Lions Gate Entertainment Corp Class B(a) | 530,428 |
12,619 | Ollie's Bargain Outlet Holdings Inc(a) | 1,004,094 |
23,876 | On Holding AG Class A(a)(b) | 844,733 |
34,147 | OPENLANE Inc(a) | 590,743 |
12,936 | Papa John's International Inc(b) | 861,538 |
7,454 | Patrick Industries Inc | 890,529 |
2,852 | Shake Shack Inc Class A(a) | 296,693 |
11,861 | Skyline Champion Corp(a) | 1,008,304 |
13,734 | Sweetgreen Inc Class A(a) | 346,921 |
33,675 | Wabash National Corp | 1,008,229 |
15,479,732 | ||
Consumer, Non-Cyclical — 32.86% | ||
38,855 | Adaptive Biotechnologies Corp(a)(b) | 124,725 |
78,678 | ADMA Biologics Inc(a) | 519,275 |
75,733 | Amicus Therapeutics Inc(a) | 892,135 |
9,387 | Apellis Pharmaceuticals Inc(a) | 551,768 |
5,598 | Arcellx Inc(a) | 389,341 |
16,471 | Arlo Technologies Inc(a) | 208,358 |
5,772 | Avadel Pharmaceuticals PLC ADR(a) | 97,489 |
Shares | Fair Value | |
Consumer, Non-Cyclical — (continued) | ||
64,084 | Avantor Inc(a) | $ 1,638,628 |
12,591 | Axonics Inc(a) | 868,401 |
8,823 | Axsome Therapeutics Inc(a)(b) | 704,075 |
9,725 | Azenta Inc(a) | 586,223 |
3,318 | Biohaven Ltd(a) | 181,461 |
29,786 | BioLife Solutions Inc(a) | 552,530 |
9,524 | Blueprint Medicines Corp(a) | 903,447 |
10,371 | CONMED Corp | 830,510 |
8,231 | Crinetics Pharmaceuticals Inc(a) | 385,293 |
14,659 | CVRx Inc(a) | 266,940 |
13,327 | Cytokinetics Inc(a) | 934,356 |
2,960 | Disc Medicine Inc(a) | 184,290 |
53,652 | Dynavax Technologies Corp(a) | 665,821 |
11,369 | elf Beauty Inc(a) | 2,228,665 |
20,568 | Evolus Inc(a) | 287,952 |
6,075 | EyePoint Pharmaceuticals Inc(a) | 125,570 |
45,785 | Flywire Corp(a) | 1,135,926 |
7,232 | FTI Consulting Inc(a) | 1,520,817 |
9,880 | Glaukos Corp(a) | 931,585 |
12,877 | GXO Logistics Inc(a) | 692,268 |
14,158 | Haemonetics Corp(a) | 1,208,385 |
12,323 | HealthEquity Inc(a) | 1,005,927 |
11,128 | ICF International Inc | 1,676,211 |
5,891 | ICON PLC(a) | 1,979,082 |
11,097 | Immunome Inc(a) | 273,874 |
29,685 | Insmed Inc(a) | 805,354 |
12,077 | Ionis Pharmaceuticals Inc(a) | 523,538 |
6,987 | iRhythm Technologies Inc(a)(b) | 810,492 |
5,154 | Janux Therapeutics Inc(a) | 194,048 |
23,957 | Kiniksa Pharmaceuticals Ltd Class A(a) | 472,672 |
2,392 | Krystal Biotech Inc(a) | 425,609 |
11,034 | Lamb Weston Holdings Inc | 1,175,452 |
34,603 | LiveRamp Holdings Inc(a) | 1,193,804 |
11,793 | Longboard Pharmaceuticals Inc(a)(b) | 254,729 |
9,317 | Monro Inc | 293,858 |
2,545 | MoonLake Immunotherapeutics(a) | 127,835 |
31,041 | Myriad Genetics Inc(a) | 661,794 |
57,721 | Neogen Corp(a) | 910,837 |
6,787 | Neurocrine Biosciences Inc(a) | 936,063 |
15,153 | Paymentus Holdings Inc Class A(a) | 344,731 |
19,963 | Performance Food Group Co(a) | 1,490,038 |
6,213 | PROCEPT BioRobotics Corp(a)(b) | 307,047 |
13,388 | Quanterix Corp(a) | 315,421 |
6,440 | RB Global Inc | 490,535 |
13,914 | Remitly Global Inc(a) | 288,576 |
6,874 | Rhythm Pharmaceuticals Inc(a) | 297,850 |
10,254 | RxSight Inc(a) | 528,901 |
3,490 | Sarepta Therapeutics Inc(a) | 451,815 |
12,415 | Shift4 Payments Inc Class A(a)(b) | 820,259 |
12,180 | SpringWorks Therapeutics Inc(a) | 599,500 |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
EMPOWER SMALL CAP GROWTH FUND
Schedule of Investments
As of March 28, 2024 (Unaudited)
Shares | Fair Value | |
Consumer, Non-Cyclical — (continued) | ||
3,989 | Stride Inc(a) | $ 251,506 |
81,829 | SunOpta Inc(a) | 562,165 |
20,201 | Syndax Pharmaceuticals Inc(a) | 480,784 |
2,109 | Tarsus Pharmaceuticals Inc(a) | 76,662 |
9,578 | TransMedics Group Inc(a)(b) | 708,197 |
7,586 | Twist Bioscience Corp(a) | 260,276 |
1,854 | UFP Technologies Inc(a) | 467,579 |
12,115 | Ultragenyx Pharmaceutical Inc(a) | 565,649 |
9,799 | US Physical Therapy Inc | 1,106,013 |
5,609 | Vera Therapeutics Inc(a) | 241,860 |
16,591 | Vital Farms Inc(a) | 385,741 |
4,758 | WEX Inc(a) | 1,130,168 |
5,803 | Xenon Pharmaceuticals Inc(a) | 249,819 |
45,758,505 | ||
Energy — 1.26% | ||
17,118 | Callon Petroleum Co(a) | 612,140 |
31,827 | ChampionX Corp | 1,142,271 |
1,754,411 | ||
Financial — 9.05% | ||
49,862 | BRP Group Inc Class A(a) | 1,443,006 |
20,324 | Essent Group Ltd | 1,209,481 |
6,365 | Evercore Inc Class A | 1,225,835 |
23,227 | NerdWallet Inc Class A(a) | 341,437 |
12,635 | Palomar Holdings Inc(a) | 1,059,192 |
1,793 | Piper Sandler Cos | 355,893 |
24,905 | Ryan Specialty Holdings Inc | 1,382,228 |
8,509 | Ryman Hospitality Properties Inc REIT | 983,726 |
32,086 | Skyward Specialty Insurance Group Inc(a) | 1,200,337 |
20,047 | Stifel Financial Corp | 1,567,074 |
15,909 | Triumph Financial Inc(a) | 1,261,902 |
27,616 | Virtu Financial Inc Class A | 566,680 |
12,596,791 | ||
Industrial — 14.76% | ||
11,625 | AAR Corp(a) | 695,989 |
7,125 | Advanced Drainage Systems Inc | 1,227,210 |
8,599 | Advanced Energy Industries Inc | 876,926 |
3,372 | AeroVironment Inc(a) | 516,860 |
5,192 | Atkore Inc | 988,349 |
17,809 | AZEK Co Inc(a) | 894,368 |
6,746 | Boise Cascade Co | 1,034,634 |
7,256 | Chart Industries Inc(a) | 1,195,208 |
9,486 | Dycom Industries Inc(a) | 1,361,526 |
17,510 | Flowserve Corp | 799,857 |
5,760 | Generac Holdings Inc(a) | 726,566 |
1,806 | Gibraltar Industries Inc(a) | 145,437 |
10,059 | Itron Inc(a) | 930,659 |
8,110 | Kirby Corp(a) | 773,045 |
15,690 | Knight-Swift Transportation Holdings Inc | 863,264 |
Shares | Fair Value | |
Industrial — (continued) | ||
46,656 | Kratos Defense & Security Solutions Inc(a) | $ 857,537 |
5,743 | Modine Manufacturing Co(a) | 546,676 |
24,142 | Montrose Environmental Group Inc(a) | 945,642 |
6,589 | MYR Group Inc(a) | 1,164,606 |
2,821 | OSI Systems Inc(a) | 402,895 |
5,429 | Primoris Services Corp | 231,113 |
24,632 | Schneider National Inc Class B | 557,669 |
11,432 | SPX Technologies Inc(a) | 1,407,622 |
4,003 | Sterling Infrastructure Inc(a) | 441,571 |
29,111 | Zurn Elkay Water Solutions Corp | 974,345 |
20,559,574 | ||
Technology — 23.89% | ||
4,039 | Agilysys Inc(a) | 340,326 |
15,270 | Alkami Technology Inc(a) | 375,184 |
15,208 | ASGN Inc(a) | 1,593,190 |
36,678 | AvidXchange Holdings Inc(a) | 482,316 |
8,277 | BILL Holdings Inc(a) | 568,795 |
50,556 | Box Inc Class A(a) | 1,431,746 |
28,066 | Confluent Inc Class A(a) | 856,574 |
5,198 | CyberArk Software Ltd(a) | 1,380,745 |
4,476 | Docebo Inc(a) | 219,234 |
19,630 | DoubleVerify Holdings Inc(a) | 690,191 |
30,538 | Evolent Health Inc Class A(a) | 1,001,341 |
14,723 | FormFactor Inc(a) | 671,810 |
12,015 | Grid Dynamics Holdings Inc(a) | 147,664 |
26,292 | HashiCorp Inc Class A(a) | 708,569 |
1,869 | Impinj Inc(a) | 239,998 |
51,559 | Jamf Holding Corp(a) | 946,108 |
40,171 | JFrog Ltd(a) | 1,776,362 |
25,020 | KBR Inc | 1,592,773 |
13,606 | Lumentum Holdings Inc(a) | 644,244 |
18,266 | Nutanix Inc Class A(a) | 1,127,377 |
21,454 | Oddity Tech Ltd Class A(a) | 932,176 |
4,920 | Onto Innovation Inc(a) | 890,914 |
35,358 | PagerDuty Inc(a) | 801,919 |
14,799 | PAR Technology Corp(a) | 671,283 |
7,672 | Photronics Inc(a) | 217,271 |
30,458 | Phreesia Inc(a) | 728,860 |
26,262 | Privia Health Group Inc(a)(b) | 514,473 |
10,650 | PTC Inc(a) | 2,012,211 |
17,874 | Pure Storage Inc Class A(a) | 929,269 |
5,076 | Rambus Inc(a) | 313,748 |
997 | Riskified Ltd Class A(a) | 5,394 |
15,193 | Sprout Social Inc Class A(a)(b) | 907,174 |
25,769 | SS&C Technologies Holdings Inc | 1,658,751 |
6,600 | Synaptics Inc(a) | 643,896 |
18,516 | TaskUS Inc Class A(a)(b) | 215,711 |
7,617 | Teradyne Inc | 859,426 |
27,040 | Varonis Systems Inc(a) | 1,275,477 |
67,414 | Verra Mobility Corp(a) | 1,683,328 |
32,522 | Weave Communications Inc(a) | 373,353 |
27,281 | Zeta Global Holdings Corp Class A(a) | 298,181 |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
EMPOWER SMALL CAP GROWTH FUND
Schedule of Investments
As of March 28, 2024 (Unaudited)
Shares | Fair Value | |
Technology — (continued) | ||
58,792 | Zuora Inc Class A(a) | $ 536,183 |
33,263,545 | ||
TOTAL COMMON STOCK — 98.01% (Cost $110,358,966) | $136,486,798 | |
Principal Amount | ||
SHORT TERM INVESTMENTS | ||
Repurchase Agreements — 4.17% | ||
$1,452,047 | Undivided interest of 0.81% in a repurchase agreement (principal amount/value $178,876,340 with a maturity value of $178,982,473) with HSBC Securities (USA) Inc, 5.34%, dated 3/28/24 to be repurchased at $1,452,047 on 4/1/24 collateralized by various U.S. Government Agency securities, 1.50% - 7.50%, 1/1/31 - 8/1/59, with a value of $182,453,867.(c) | 1,452,047 |
1,452,047 | Undivided interest of 0.81% in a repurchase agreement (principal amount/value $179,328,251 with a maturity value of $179,434,652) with Citigroup Global Markets Inc, 5.34%, dated 3/28/24 to be repurchased at $1,452,047 on 4/1/24 collateralized by Government National Mortgage Association securities, 2.00% - 6.50%, 9/20/44 - 1/20/54, with a value of $182,914,816.(c) | 1,452,047 |
1,452,047 | Undivided interest of 0.82% in a repurchase agreement (principal amount/value $177,916,671 with a maturity value of $178,022,037) with RBC Capital Markets Corp, 5.33%, dated 3/28/24 to be repurchased at $1,452,047 on 4/1/24 collateralized by U.S. Treasury securities and various U.S. Government Agency securities, 0.00% - 8.00%, 4/4/24 - 3/1/54, with a value of $181,475,005.(c) | 1,452,047 |
Principal Amount | Fair Value | |
Repurchase Agreements — (continued) | ||
$1,452,047 | Undivided interest of 3.84% in a repurchase agreement (principal amount/value $37,884,479 with a maturity value of $37,906,873) with Mizuho Securities (USA) LLC, 5.32%, dated 3/28/24 to be repurchased at $1,452,047 on 4/1/24 collateralized by U.S. Treasury securities, 0.25% - 2.88%, 6/15/24 - 5/15/32, with a value of $38,642,182.(c) | $ 1,452,047 |
TOTAL SHORT TERM INVESTMENTS — 4.17% (Cost $5,808,188) | $5,808,188 | |
TOTAL INVESTMENTS — 102.18% (Cost $116,167,154) | $142,294,986 | |
OTHER ASSETS & LIABILITIES, NET — (2.18)% | $(3,034,326) | |
TOTAL NET ASSETS — 100.00% | $139,260,660 |
(a) | Non-income producing security. |
(b) | All or a portion of the security is on loan at March 28, 2024. |
(c) | Collateral received for securities on loan. |
ADR | American Depositary Receipt |
REIT | Real Estate Investment Trust |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
EMPOWER SMALL CAP VALUE FUND Schedule of Investments
As of March 28, 2024 (Unaudited)
Shares | Fair Value | |
COMMON STOCK | ||
Basic Materials — 2.98% | ||
16,800 | AdvanSix Inc | $ 480,480 |
20,349 | Ashland Inc | 1,981,382 |
41,260 | Cabot Corp | 3,804,172 |
19,100 | Compass Minerals International Inc | 300,634 |
287,244 | Ecovyst Inc(a) | 3,202,771 |
14,753 | Hawkins Inc | 1,133,030 |
2,900 | Haynes International Inc | 174,348 |
14,500 | Ingevity Corp(a) | 691,650 |
3,600 | Innospec Inc | 464,184 |
7,600 | Kaiser Aluminum Corp | 679,136 |
35,700 | Mercer International Inc | 355,215 |
9,600 | Minerals Technologies Inc | 722,688 |
6,000 | Sylvamo Corp | 370,440 |
14,360,130 | ||
Communications — 1.78% | ||
5,200 | Aviat Networks Inc(a) | 199,368 |
3,325 | Cable One Inc | 1,406,907 |
8,000 | ePlus Inc(a) | 628,320 |
1,100 | Preformed Line Products Co | 141,537 |
11,700 | Revolve Group Inc(a)(b) | 247,689 |
104,000 | Stagwell Inc(a) | 646,880 |
41,300 | TEGNA Inc | 617,022 |
86,188 | United States Cellular Corp(a) | 3,145,862 |
166,953 | Viavi Solutions Inc(a) | 1,517,603 |
8,551,188 | ||
Consumer, Cyclical — 13.39% | ||
36,710 | Academy Sports & Outdoors Inc | 2,479,393 |
44,600 | Accel Entertainment Inc(a) | 525,834 |
16,700 | Adient PLC(a) | 549,764 |
4,700 | Advance Auto Parts Inc | 399,923 |
12,900 | Alaska Air Group Inc(a) | 554,571 |
35,635 | Allison Transmission Holdings Inc | 2,892,137 |
2,000 | Asbury Automotive Group Inc(a) | 471,560 |
60,738 | Atlanta Braves Holdings Inc Class C(a) | 2,372,426 |
38,055 | Beacon Roofing Supply Inc(a) | 3,730,151 |
18,500 | Bloomin' Brands Inc | 530,580 |
2,200 | Blue Bird Corp(a) | 84,348 |
18,647 | Boot Barn Holdings Inc(a) | 1,774,262 |
11,800 | Brinker International Inc(a) | 586,224 |
30,961 | Brunswick Corp | 2,988,356 |
3,800 | Carter's Inc | 321,784 |
5,400 | Century Communities Inc | 521,100 |
21,618 | Churchill Downs Inc | 2,675,227 |
26,412 | Crocs Inc(a) | 3,798,046 |
9,100 | Dave & Buster's Entertainment Inc(a) | 569,660 |
26,400 | Denny's Corp(a) | 236,544 |
24,200 | Designer Brands Inc Class A(b) | 264,506 |
9,700 | Dine Brands Global Inc | 450,856 |
5,600 | Douglas Dynamics Inc | 135,072 |
Shares | Fair Value | |
Consumer, Cyclical — (continued) | ||
32,800 | El Pollo Loco Holdings Inc(a) | $ 319,472 |
42,900 | Everi Holdings Inc(a) | 431,145 |
2,400 | Fox Factory Holding Corp(a) | 124,968 |
15,700 | G-III Apparel Group Ltd(a) | 455,457 |
214,811 | Garrett Motion Inc(a) | 2,135,221 |
10,000 | Genesco Inc(a) | 281,400 |
3,975 | Global Industrial Co | 178,001 |
49,300 | Goodyear Tire & Rubber Co(a) | 676,889 |
4,100 | Green Brick Partners Inc(a) | 246,943 |
2,020 | Group 1 Automotive Inc | 590,305 |
70,000 | Hanesbrands Inc(a) | 406,000 |
13,100 | Haverty Furniture Cos Inc | 446,972 |
6,200 | Hibbett Inc | 476,222 |
11,000 | Hilton Grand Vacations Inc(a) | 519,310 |
28,000 | Interface Inc | 470,960 |
10,279 | JAKKS Pacific Inc(a) | 253,891 |
30,300 | JetBlue Airways Corp(a) | 224,826 |
6,900 | Johnson Outdoors Inc Class A | 318,159 |
48,932 | KB Home | 3,468,300 |
6,600 | Kontoor Brands Inc | 397,650 |
11,700 | La-Z-Boy Inc | 440,154 |
19,800 | Leggett & Platt Inc | 379,170 |
55,400 | Leslie's Inc(a) | 360,100 |
60,771 | LL Flooring Holdings Inc(a) | 111,211 |
4,200 | M/I Homes Inc(a) | 572,418 |
14,300 | MarineMax Inc(a) | 475,618 |
6,100 | Marriott Vacations Worldwide Corp | 657,153 |
29,200 | Methode Electronics Inc | 355,656 |
4,900 | Miller Industries Inc | 245,490 |
6,700 | Monarch Casino & Resort Inc | 502,433 |
209,464 | MRC Global Inc(a) | 2,632,963 |
24,900 | Nu Skin Enterprises Inc Class A | 344,367 |
19,600 | OneWater Marine Inc Class A(a) | 551,740 |
2,100 | Oxford Industries Inc(b) | 236,040 |
59,400 | PetMed Express Inc(b) | 284,526 |
17,600 | Phinia Inc | 676,368 |
16,600 | Resideo Technologies Inc(a) | 372,172 |
12,200 | REV Group Inc | 269,498 |
11,950 | Rush Enterprises Inc Class A | 639,564 |
11,800 | ScanSource Inc(a) | 519,672 |
4,100 | Signet Jewelers Ltd | 410,287 |
5,900 | Six Flags Entertainment Corp(a) | 155,288 |
35,243 | Skyline Champion Corp(a) | 2,996,007 |
10,700 | Sonic Automotive Inc Class A | 609,258 |
9,600 | Steven Madden Ltd | 405,888 |
17,600 | Titan Machinery Inc(a) | 436,656 |
13,000 | Travel + Leisure Co | 636,480 |
8,900 | Tri Pointe Homes Inc(a) | 344,074 |
900 | UniFirst Corp | 156,087 |
12,300 | United Parks & Resorts Inc(a) | 691,383 |
21,100 | Vista Outdoor Inc(a) | 691,658 |
33,334 | VSE Corp | 2,666,720 |
76,306 | Wabash National Corp | 2,284,602 |
6,300 | Zumiez Inc(a) | 95,697 |
64,540,813 |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
EMPOWER SMALL CAP VALUE FUND Schedule of Investments
As of March 28, 2024 (Unaudited)
Shares | Fair Value | |
Consumer, Non-Cyclical — 17.86% | ||
45,530 | Aaron's Co Inc | $ 341,475 |
14,400 | ABM Industries Inc | 642,528 |
13,300 | Adtalem Global Education Inc(a) | 683,620 |
315,719 | Alight Inc Class A(a) | 3,109,832 |
75,527 | Alkermes PLC(a) | 2,044,516 |
67,902 | Alta Equipment Group Inc | 879,331 |
64,009 | Andersons Inc | 3,672,196 |
38,770 | ANI Pharmaceuticals Inc(a) | 2,680,170 |
46,300 | B&G Foods Inc(b) | 529,672 |
51,293 | BellRing Brands Inc(a) | 3,027,826 |
5,600 | Brink's Co | 517,328 |
2,900 | Cal-Maine Foods Inc | 170,665 |
6,100 | Central Garden & Pet Co(a) | 261,263 |
24,687 | Colliers International Group Inc | 3,017,492 |
20,784 | CONMED Corp | 1,664,383 |
8,300 | CPI Card Group Inc(a) | 148,238 |
168,967 | Custom Truck One Source Inc(a) | 983,388 |
71,600 | Duckhorn Portfolio Inc(a) | 666,596 |
12,400 | Edgewell Personal Care Co | 479,136 |
10,432 | Embecta Corp | 138,433 |
26,238 | Emerald Holding Inc(a) | 178,681 |
12,700 | Ennis Inc | 260,477 |
28,851 | Euronet Worldwide Inc(a) | 3,171,590 |
430 | Graham Holdings Co Class B | 330,102 |
5,083 | Haemonetics Corp(a) | 433,834 |
25,200 | Hain Celestial Group Inc(a) | 198,072 |
46,300 | Healthcare Services Group Inc(a) | 577,824 |
15,700 | Heidrick & Struggles International Inc | 528,462 |
72,000 | Herbalife Ltd(a) | 723,600 |
20,068 | Herc Holdings Inc | 3,377,444 |
93,017 | Inmode Ltd(a) | 2,010,097 |
7,746 | J & J Snack Foods Corp | 1,119,762 |
45,540 | John Wiley & Sons Inc Class A | 1,736,440 |
6,900 | Kforce Inc | 486,588 |
49,972 | Korn Ferry | 3,286,159 |
32,573 | Lantheus Holdings Inc(a) | 2,027,344 |
8,300 | ManpowerGroup Inc | 644,412 |
15,300 | Medifast Inc | 586,296 |
131,145 | Nomad Foods Ltd | 2,565,196 |
80,794 | Option Care Health Inc(a) | 2,709,831 |
83,061 | Pacira BioSciences Inc(a) | 2,427,042 |
28,600 | Phibro Animal Health Corp Class A | 369,798 |
21,449 | Post Holdings Inc(a) | 2,279,600 |
36,800 | Quad/Graphics Inc | 195,408 |
71,044 | Quanex Building Products Corp | 2,730,221 |
33,800 | Resources Connection Inc | 444,808 |
17,800 | Select Medical Holdings Corp | 536,670 |
37,000 | SIGA Technologies Inc(b) | 316,720 |
29,249 | Spectrum Brands Holdings Inc | 2,603,453 |
80,401 | Supernus Pharmaceuticals Inc(a) | 2,742,478 |
41,917 | Tenet Healthcare Corp(a) | 4,405,896 |
47,600 | TrueBlue Inc(a) | 595,952 |
Shares | Fair Value | |
Consumer, Non-Cyclical — (continued) | ||
10,798 | UFP Technologies Inc(a) | $ 2,723,256 |
11,544 | United Therapeutics Corp(a) | 2,651,888 |
9,200 | Upbound Group Inc | 323,932 |
1,900 | Utah Medical Products Inc(a) | 135,109 |
61,626 | V2X Inc(a) | 2,878,550 |
87,969 | Vestis Corp | 1,695,163 |
11,442 | WEX Inc(a) | 2,717,818 |
23,100 | WK Kellogg Co | 434,280 |
22,900 | Zynex Inc(a)(b) | 283,273 |
86,101,614 | ||
Energy — 10.69% | ||
186,100 | Alto Ingredients Inc(a) | 405,698 |
95,639 | Antero Resources Corp(a) | 2,773,531 |
197,568 | Baytex Energy Corp(b) | 715,200 |
81,800 | Berry Corp | 658,490 |
64,667 | California Resources Corp | 3,563,152 |
19,600 | Callon Petroleum Co(a) | 700,896 |
65,333 | ChampionX Corp | 2,344,801 |
18,900 | Core Laboratories Inc | 322,812 |
52,500 | Crescent Energy Co Class A | 624,750 |
77,112 | Delek US Holdings Inc | 2,370,423 |
10,400 | DNOW Inc(a) | 158,080 |
18,800 | Dril-Quip Inc(a) | 423,564 |
57,700 | Equitrans Midstream Corp | 720,673 |
36,500 | Expro Group Holdings NV(a) | 728,905 |
7,900 | Forum Energy Technologies Inc(a) | 157,842 |
31,000 | Helix Energy Solutions Group Inc(a) | 336,040 |
9,800 | Kinetik Holdings Inc | 390,726 |
380,449 | Kosmos Energy Ltd(a) | 2,267,476 |
25,100 | Liberty Energy Inc | 520,072 |
78,600 | National Energy Services Reunited Corp(a) | 628,800 |
249,889 | Newpark Resources Inc(a) | 1,804,199 |
90,866 | Noble Corp PLC | 4,406,092 |
132,739 | Northern Oil & Gas Inc | 5,267,084 |
14,000 | Par Pacific Holdings Inc(a) | 518,840 |
10,700 | Precision Drilling Corp(a) | 720,003 |
20,400 | ProFrac Holding Corp Class A(a)(b) | 170,544 |
62,000 | ProPetro Holding Corp(a) | 500,960 |
4,000 | REX American Resources Corp(a) | 234,840 |
20,800 | Select Water Solutions Inc | 191,984 |
17,300 | SilverBow Resources Inc(a) | 590,622 |
59,500 | Solaris Oilfield Infrastructure Inc Class A | 515,865 |
46,400 | Talos Energy Inc(a) | 646,352 |
53,817 | Tidewater Inc(a) | 4,951,164 |
73,900 | VAALCO Energy Inc | 515,083 |
115,500 | Vertex Energy Inc(a)(b) | 161,700 |
12,400 | Vital Energy Inc(a) | 651,496 |
76,855 | Weatherford International PLC(a) | 8,870,604 |
51,529,363 |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
EMPOWER SMALL CAP VALUE FUND Schedule of Investments
As of March 28, 2024 (Unaudited)
Shares | Fair Value | |
Financial — 23.72% | ||
2,900 | 1st Source Corp | $ 152,018 |
36,154 | Agree Realty Corp REIT | 2,065,116 |
2,000 | Alexander's Inc REIT(a) | 434,280 |
28,400 | Ambac Financial Group Inc(a) | 443,892 |
67,871 | Ameris Bancorp | 3,283,599 |
26,900 | Apollo Commercial Real Estate Finance Inc REIT | 299,666 |
40,000 | Ares Commercial Real Estate Corp REIT(b) | 298,000 |
5,800 | Arrow Financial Corp | 145,116 |
26,300 | Associated Banc-Corp | 565,713 |
6,700 | Assured Guaranty Ltd | 584,575 |
10,500 | Axis Capital Holdings Ltd | 682,710 |
48,479 | Banc of California Inc | 737,366 |
14,900 | Bank of Marin Bancorp | 249,873 |
22,400 | BankUnited Inc | 627,200 |
5,400 | BayCom Corp | 111,294 |
17,700 | BCB Bancorp Inc | 184,965 |
12,600 | Berkshire Hills Bancorp Inc | 288,792 |
3,700 | BOK Financial Corp | 340,400 |
16,700 | Bread Financial Holdings Inc | 621,908 |
16,500 | Bridgewater Bancshares Inc(a) | 192,060 |
8,900 | Brighthouse Financial Inc(a) | 458,706 |
45,300 | BrightSpire Capital Inc REIT | 312,117 |
62,800 | Brookline Bancorp Inc | 625,488 |
95,117 | Cadence Bank | 2,758,393 |
6,800 | Cambridge Bancorp | 463,488 |
8,200 | Camden National Corp | 274,864 |
47,400 | Capitol Federal Financial Inc | 282,504 |
7,000 | Cathay General Bancorp | 264,810 |
26,300 | Central Pacific Financial Corp | 519,425 |
13,300 | Civista Bancshares Inc | 204,554 |
6,800 | CNB Financial Corp | 138,652 |
22,100 | CNO Financial Group Inc | 607,308 |
19,400 | Columbia Banking System Inc | 375,390 |
6,100 | Community Trust Bancorp Inc(a) | 260,165 |
27,300 | ConnectOne Bancorp Inc | 532,350 |
23,600 | CrossFirst Bankshares Inc(a) | 326,624 |
54,300 | Cushman & Wakefield PLC(a) | 567,978 |
2,200 | Diamond Hill Investment Group Inc | 339,174 |
24,100 | Dime Community Bancshares Inc | 464,166 |
25,900 | Eagle Bancorp Inc | 608,391 |
65,100 | Empire State Realty Trust Inc Class A REIT | 659,463 |
69,812 | Employers Holdings Inc | 3,168,767 |
20,500 | Enact Holdings Inc | 639,190 |
9,353 | Enstar Group Ltd(a) | 2,906,538 |
7,400 | Enterprise Financial Services Corp | 300,144 |
115,978 | Equity Commonwealth REIT(a) | 2,189,665 |
11,800 | Essent Group Ltd | 702,218 |
1,800 | Evercore Inc Class A | 346,662 |
4,000 | FB Financial Corp | 150,640 |
24,264 | Federal Agricultural Mortgage Corp Class C | 4,777,096 |
17,400 | Federated Hermes Inc | 628,488 |
Shares | Fair Value | |
Financial — (continued) | ||
8,500 | Financial Institutions Inc | $ 159,970 |
6,300 | First Busey Corp | 151,515 |
6,100 | First Business Financial Services Inc | 228,750 |
12,600 | First Financial Corp(a) | 482,958 |
38,800 | First Foundation Inc | 292,940 |
28,100 | First Hawaiian Inc | 617,076 |
11,200 | First Internet Bancorp | 389,088 |
5,300 | First Interstate BancSystem Inc Class A | 144,213 |
4,296 | First Merchants Corp | 149,930 |
4,600 | First Mid Bancshares Inc | 150,328 |
24,100 | First of Long Island Corp | 267,269 |
30,100 | Flushing Financial Corp(a) | 379,561 |
6,000 | FS Bancorp Inc | 208,260 |
58,000 | Granite Point Mortgage Trust Inc REIT | 276,660 |
28,900 | Great Ajax Corp REIT | 109,820 |
2,400 | Great Southern Bancorp Inc | 131,568 |
40,800 | Hanmi Financial Corp | 649,536 |
3,500 | Hanover Insurance Group Inc | 476,595 |
6,900 | Heartland Financial USA Inc | 242,535 |
31,800 | Heritage Commerce Corp | 272,844 |
14,700 | Heritage Financial Corp | 285,033 |
14,200 | Hilltop Holdings Inc | 444,744 |
2,800 | Home Bancorp Inc | 107,268 |
141,974 | Home BancShares Inc | 3,488,301 |
199,565 | Hope Bancorp Inc | 2,296,993 |
17,100 | Horace Mann Educators Corp | 632,529 |
36,100 | Horizon Bancorp Inc | 463,163 |
12,500 | Independent Bank Corp | 316,875 |
3,000 | Independent Bank Group Inc | 136,950 |
102,583 | International Money Express Inc(a) | 2,341,970 |
11,700 | Investar Holding Corp | 191,412 |
19,600 | Janus Henderson Group PLC | 644,644 |
41,300 | Kearny Financial Corp | 265,972 |
51,231 | Kemper Corp | 3,172,224 |
32,100 | Lakeland Bancorp Inc | 388,410 |
12,500 | Lincoln National Corp | 399,125 |
9,700 | Live Oak Bancshares Inc | 402,647 |
22,218 | McGrath RentCorp | 2,741,035 |
3,700 | Mercantile Bank Corp | 142,413 |
11,100 | Merchants Bancorp | 479,298 |
7,500 | Mercury General Corp | 387,000 |
32,100 | MGIC Investment Corp | 717,756 |
6,500 | MidWestOne Financial Group Inc | 152,360 |
7,100 | Mr Cooper Group Inc(a) | 553,445 |
33,800 | Navient Corp | 588,120 |
18,800 | NMI Holdings Inc Class A(a) | 607,992 |
4,300 | Northeast Bank | 237,962 |
12,800 | Northeast Community Bancorp Inc | 201,344 |
46,000 | Northfield Bancorp Inc | 447,120 |
6,000 | Northrim BanCorp Inc | 303,060 |
40,600 | OceanFirst Financial Corp | 666,246 |
11,900 | Pacific Premier Bancorp Inc | 285,600 |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
EMPOWER SMALL CAP VALUE FUND Schedule of Investments
As of March 28, 2024 (Unaudited)
Shares | Fair Value | |
Financial — (continued) | ||
34,800 | Park Hotels & Resorts Inc REIT | $ 608,652 |
3,900 | Parke Bancorp Inc | 67,178 |
12,200 | PCB Bancorp | 199,226 |
10,800 | Peapack-Gladstone Financial Corp | 262,764 |
44,000 | Pebblebrook Hotel Trust REIT | 678,040 |
23,800 | Perella Weinberg Partners | 336,294 |
39,481 | Pinnacle Financial Partners Inc | 3,390,628 |
52,514 | Popular Inc | 4,625,958 |
65,589 | Postal Realty Trust Inc Class A REIT | 939,234 |
6,740 | Preferred Bank | 517,430 |
21,200 | Premier Financial Corp | 430,360 |
14,300 | Primis Financial Corp | 174,031 |
21,300 | ProAssurance Corp | 273,918 |
50,900 | Prosperity Bancshares Inc | 3,348,202 |
35,000 | Provident Financial Services Inc | 509,950 |
20,100 | Radian Group Inc | 672,747 |
9,500 | RBB Bancorp | 171,095 |
3,700 | Safety Insurance Group Inc | 304,103 |
27,900 | Sandy Spring Bancorp Inc | 646,722 |
66,600 | Seritage Growth Properties Class A(a)(b) | 642,690 |
12,451 | Shore Bancshares Inc | 143,187 |
7,400 | Sierra Bancorp | 149,480 |
32,600 | Simmons First National Corp Class A | 634,396 |
25,000 | SiriusPoint Ltd(a) | 317,750 |
28,500 | SLM Corp | 621,015 |
3,459 | Southern First Bancshares Inc(a) | 109,858 |
40,356 | SouthState Corp | 3,431,471 |
84,353 | STAG Industrial Inc REIT | 3,242,529 |
10,000 | Stewart Information Services Corp | 650,600 |
39,514 | Stifel Financial Corp | 3,088,809 |
15,900 | Synovus Financial Corp | 636,954 |
6,800 | Territorial Bancorp Inc | 54,808 |
2,400 | Texas Capital Bancshares Inc(a) | 147,720 |
5,500 | Tompkins Financial Corp | 276,595 |
5,300 | Towne Bank | 148,718 |
40,300 | TPG RE Finance Trust Inc REIT | 311,116 |
16,600 | TrustCo Bank Corp NY | 467,456 |
22,100 | Univest Financial Corp | 460,122 |
54,200 | Valley National Bancorp | 431,432 |
21,000 | Veritex Holdings Inc | 430,290 |
36,300 | Virtu Financial Inc Class A | 744,876 |
2,480 | Virtus Investment Partners Inc | 614,990 |
22,040 | WaFd Inc | 639,821 |
16,200 | Washington Trust Bancorp Inc | 435,456 |
310 | White Mountains Insurance Group Ltd | 556,233 |
41,888 | Wintrust Financial Corp | 4,372,688 |
52,690 | WSFS Financial Corp | 2,378,427 |
Shares | Fair Value | |
Financial — (continued) | ||
14,200 | Zions Bancorp NA | $ 616,280 |
114,344,687 | ||
Industrial — 20.25% | ||
40,900 | AerSale Corp(a) | 293,662 |
31,422 | Albany International Corp Class A | 2,938,271 |
42,047 | Arcosa Inc | 3,610,156 |
3,700 | Armstrong World Industries Inc | 459,614 |
15,501 | Atkore Inc | 2,950,770 |
104,131 | Atmus Filtration Technologies Inc(a) | 3,358,225 |
12,200 | Avnet Inc | 604,876 |
8,500 | AZZ Inc | 657,135 |
17,100 | Barnes Group Inc | 635,265 |
37,994 | Bel Fuse Inc Class B | 2,291,418 |
6,800 | Belden Inc | 629,748 |
7,200 | Benchmark Electronics Inc | 216,072 |
8,900 | Brady Corp Class A | 527,592 |
14,400 | Cactus Inc Class A | 721,296 |
83,612 | CECO Environmental Corp(a) | 1,924,748 |
13,446 | Clean Harbors Inc(a) | 2,706,814 |
6,400 | Coherent Corp(a) | 387,968 |
63,165 | Columbus McKinnon Corp | 2,819,054 |
8,600 | Core Molding Technologies Inc(a) | 162,798 |
6,300 | CSW Industrials Inc | 1,477,980 |
13,700 | Energizer Holdings Inc | 403,328 |
10,500 | Enerpac Tool Group Corp | 374,430 |
15,000 | Flowserve Corp | 685,200 |
35,300 | Gates Industrial Corp PLC(a) | 625,163 |
118,833 | Genco Shipping & Trading Ltd | 2,415,875 |
13,400 | Greenbrier Cos Inc | 698,140 |
47,841 | Griffon Corp | 3,508,659 |
33,800 | Heartland Express Inc | 403,572 |
13,100 | Hillenbrand Inc | 658,799 |
11,500 | Insteel Industries Inc | 439,530 |
50,807 | International Seaways Inc | 2,702,932 |
7,800 | Itron Inc(a) | 721,656 |
181,241 | Janus International Group Inc(a) | 2,742,176 |
18,400 | JELD-WEN Holding Inc(a) | 390,632 |
13,295 | Kadant Inc | 4,362,090 |
5,300 | Kennametal Inc | 132,182 |
20,900 | Kimball Electronics Inc(a) | 452,485 |
50,306 | Knife River Corp(a) | 4,078,810 |
93,475 | Leonardo DRS Inc(a) | 2,064,863 |
2,400 | Lindsay Corp | 282,384 |
10,010 | Littelfuse Inc | 2,425,924 |
15,500 | Marten Transport Ltd | 286,440 |
111,920 | MDU Resources Group Inc | 2,820,384 |
56,082 | Mercury Systems Inc(a) | 1,654,419 |
36,870 | Moog Inc Class A | 5,886,295 |
12,300 | Mueller Industries Inc | 663,339 |
32,000 | Mueller Water Products Inc Class A | 514,880 |
16,300 | Myers Industries Inc | 377,671 |
3,900 | National Presto Industries Inc | 326,820 |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
EMPOWER SMALL CAP VALUE FUND Schedule of Investments
As of March 28, 2024 (Unaudited)
Shares | Fair Value | |
Industrial — (continued) | ||
3,900 | NVE Corp | $ 351,702 |
2,400 | OSI Systems Inc(a) | 342,768 |
6,200 | PAM Transportation Services Inc(a) | 100,502 |
6,491 | Plexus Corp(a) | 615,477 |
6,200 | Primoris Services Corp | 263,934 |
104,043 | Pure Cycle Corp(a) | 988,409 |
11,700 | Sanmina Corp(a) | 727,506 |
7,100 | Silgan Holdings Inc | 344,776 |
31,072 | TD SYNNEX Corp | 3,514,243 |
1,700 | Tennant Co | 206,737 |
22,400 | Thermon Group Holdings Inc(a) | 732,928 |
53,000 | Tredegar Corp | 345,560 |
17,800 | TriMas Corp | 475,794 |
229,282 | TTM Technologies Inc(a) | 3,588,263 |
34,700 | Tutor Perini Corp(a) | 501,762 |
30,167 | UFP Industries Inc | 3,710,843 |
28,400 | Vishay Intertechnology Inc | 644,112 |
149,253 | Vontier Corp | 6,770,116 |
27,900 | World Kinect Corp | 737,955 |
3,000 | Worthington Enterprises Inc | 186,690 |
97,622,617 | ||
Technology — 4.68% | ||
18,800 | ACI Worldwide Inc(a) | 624,348 |
5,400 | Cirrus Logic Inc(a) | 499,824 |
31,388 | Concentrix Corp | 2,078,513 |
56,373 | Crane NXT Co | 3,489,489 |
8,800 | Diodes Inc(a) | 620,400 |
20,200 | DXC Technology Co(a) | 428,442 |
58,777 | HashiCorp Inc Class A(a) | 1,584,040 |
6,300 | IPG Photonics Corp(a) | 571,347 |
7,400 | Maximus Inc | 620,860 |
24,433 | MKS Instruments Inc | 3,249,589 |
80,138 | NCR Atleos Corp(a) | 1,582,726 |
16,100 | Photronics Inc(a) | 455,952 |
41,222 | Rambus Inc(a) | 2,547,932 |
120,860 | Semtech Corp(a) | 3,322,441 |
25,600 | TruBridge Inc(a) | 236,032 |
24,000 | TTEC Holdings Inc | 248,880 |
16,400 | Verra Mobility Corp(a) | 409,508 |
22,570,323 | ||
Utilities — 2.36% | ||
47,614 | ALLETE Inc | 2,839,699 |
17,800 | Avista Corp | 623,356 |
11,400 | Black Hills Corp | 622,440 |
14,900 | Northwest Natural Holding Co | 554,578 |
12,100 | Northwestern Energy Group Inc | 616,253 |
9,500 | ONE Gas Inc | 613,035 |
8,100 | Otter Tail Corp | 699,840 |
16,300 | PNM Resources Inc | 613,532 |
14,200 | Portland General Electric Co | 596,400 |
8,600 | Southwest Gas Holdings Inc | 654,718 |
10,100 | Spire Inc | 619,837 |
Shares | Fair Value | |
Utilities — (continued) | ||
24,471 | Talen Energy Corp(a)(b) | $ 2,308,839 |
11,362,527 | ||
TOTAL COMMON STOCK — 97.71% (Cost $393,601,030) | $470,983,262 | |
Principal Amount | ||
SHORT TERM INVESTMENTS | ||
Repurchase Agreements — 1.22% | ||
$1,469,597 | Undivided interest of 0.82% in a repurchase agreement (principal amount/value $178,876,340 with a maturity value of $178,982,473) with HSBC Securities (USA) Inc, 5.34%, dated 3/28/24 to be repurchased at $1,469,597 on 4/1/24 collateralized by various U.S. Government Agency securities, 1.50% - 7.50%, 1/1/31 - 8/1/59, with a value of $182,453,867.(c) | 1,469,597 |
1,469,597 | Undivided interest of 0.82% in a repurchase agreement (principal amount/value $179,328,251 with a maturity value of $179,434,652) with Citigroup Global Markets Inc, 5.34%, dated 3/28/24 to be repurchased at $1,469,597 on 4/1/24 collateralized by Government National Mortgage Association securities, 0.00% - 6.50%, 9/20/44 - 1/20/54, with a value of $182,914,816.(c) | 1,469,597 |
1,469,597 | Undivided interest of 0.83% in a repurchase agreement (principal amount/value $177,916,671 with a maturity value of $178,022,037) with RBC Capital Markets Corp, 5.33%, dated 3/28/24 to be repurchased at $1,469,597 on 4/1/24 collateralized by U.S. Treasury securities and various U.S. Government Agency securities, 0.00% - 8.00%, 4/4/24 - 3/1/54, with a value of $181,475,005.(c) | 1,469,597 |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
EMPOWER SMALL CAP VALUE FUND Schedule of Investments
As of March 28, 2024 (Unaudited)
Principal Amount | Fair Value | |
Repurchase Agreements — (continued) | ||
$1,469,599 | Undivided interest of 1.07% in a repurchase agreement (principal amount/value $138,121,676 with a maturity value of $138,203,475) with Bank of Montreal, 5.33%, dated 3/28/24 to be repurchased at $1,469,599 on 4/1/24 collateralized by Federal National Mortgage Association securities, 3.50% - 7.00%, 8/1/33 - 3/1/54, with a value of $140,884,109.(c) | $ 1,469,599 |
TOTAL SHORT TERM INVESTMENTS — 1.22% (Cost $5,878,390) | $5,878,390 | |
TOTAL INVESTMENTS — 98.93% (Cost $399,479,420) | $476,861,652 | |
OTHER ASSETS & LIABILITIES, NET — 1.07% | $5,139,396 | |
TOTAL NET ASSETS — 100.00% | $482,001,048 |
(a) | Non-income producing security. |
(b) | All or a portion of the security is on loan at March 28, 2024. |
(c) | Collateral received for securities on loan. |
REIT | Real Estate Investment Trust |
See Notes to Schedule of Investments.
March 28, 2024
EMPOWER FUNDS, INC.
Notes to Schedule of Investments (Unaudited)
Security Valuation
The board of directors of Empower Funds (Board of Directors) 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 investment adviser, Empower Capital Management, LLC (ECM or the Adviser), to complete valuation determinations under those policies and procedures. Pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended, the Board of Directors approved the Adviser as the Funds' valuation designee to make all fair value determinations with respect to the Funds' investments, subject to oversight by the Board of Directors.
Each Fund generally values its securities based on market prices determined at the close of regular trading on the New York Stock Exchange (NYSE) on each day the NYSE is open for trading. The net asset value (NAV) of each class of a Fund’s shares is determined by dividing the net assets attributable to each class of shares of the Fund by the number of issued and outstanding shares of each class of the Fund on each valuation date.
For securities that are traded on only one exchange, the last sale price as of the close of business of that exchange will be used. If the closing price is not available, the current bid as of the close of business will be used. For securities traded on more than one exchange, or upon one or more exchanges and in the over-the-counter (OTC) market, the last sale price as of the close of business on the market which the security is traded most extensively will be used. If the closing price is not available, the current bid as of the close of business will be used. For securities that principally trade on the NASDAQ National Market System, the NASDAQ official closing price will be used.
For private equity securities that are not traded on an exchange, an appropriate source, which may include the use of an internally developed or approved valuation model, a different external pricing vendor, or sourcing a price from a broker will be used. Valuation of these securities will be reviewed regularly by the Fair Value Pricing Committee.
Short term securities purchased with less than 60 days remaining until maturity and all U.S. Treasury Bills are valued on the basis of amortized cost, which has been determined to approximate fair value. Short term securities purchased with more than 60 days remaining until maturity are valued using pricing services, or in the event a price is not available from a pricing service, may be priced using other methodologies approved by the Board of Directors, including model pricing or pricing on the basis of quotations from brokers or dealers, and will continue to be priced until final maturity.
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 of Directors 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.
March 28, 2024
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.
Class | Inputs |
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. |
Short Term Investments | Maturity date, credit quality and interest rates. |
Futures Contracts | Exchange traded close price. |
The Funds classify their valuations into three levels based upon the observability of inputs to the valuation of each Fund’s investments. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. Classification is based on the lowest level of input significant to the fair value measurement. The three levels are defined as follows:
Level 1 – Unadjusted quoted prices for identical securities in active markets.
Level 2 – Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. These may include quoted prices for similar assets in active markets.
Level 3 – Unobservable inputs to the extent observable inputs are not available and may include prices obtained from single broker quotes. Unobservable inputs reflect a Fund’s own assumptions and would be based on the best information available under the circumstances.
As of March 28, 2024, all of the Funds' 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.
Repurchase Agreements
A Fund may engage in repurchase agreement transactions with institutions that the Fund's investment adviser has determined are creditworthy. A Fund that engages in repurchase agreement transactions will purchase securities at a specified price with an agreement to sell the securities to the same counterparty at a specified time, price and interest rate. The Funds' custodian and/or securities lending agent receives delivery of the underlying securities collateralizing a repurchase agreement. Collateral is at least equal to the value of the repurchase obligation including interest. A repurchase agreement transaction involves certain risks in the event of default or insolvency of the counterparty. These risks include possible delays or restrictions upon a Fund’s ability to dispose of the underlying securities and a possible decline in the value of the underlying securities during the period while the Fund seeks to assert its rights.
Futures Contracts
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.
The following table represents the average month-end volume of each Fund's derivative transactions, if any, during the reporting period:
Empower S&P Small Cap 600® Index Fund | |
Futures Contracts: | |
Average long contracts | 114 |
Average notional long | $11,610,383 |
March 28, 2024