NPORT-P
    false
    
      
      
        
          0000356476
          XXXXXXXX
        
      
      
      
      
        S000033818
        C000104467
      
      
      
    
  
  
    
      GREAT-WEST FUNDS INC
      811-03364
      0000356476
      RUYOMHMDMSPQ01U66388
      8515 E Orchard Road
      Greenwood Village
      
      80111
      866-831-7129
      Great-West SecureFoundation Balanced ETF Fund
      S000033818
      549300BFQR1D41WWQH69
      2022-12-31
      2022-03-31
      N
    
    
      24486719.660000000000
      4746.790000000000
      24481972.870000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      
        
        
        
      
      N
      
        
          
        
        
        
        
      
      
      
      
    
    
      
        CITIGROUP GLOBAL MARKETS INC REPO
        MBNUM2BPBDO7JBLYG310
        CITIGROUP GLOBAL MARKETS INC REPO SLRPA 0.300% 04/01/2022
        546781075
        
          
        
        299420
        PA
        USD
        299420
        1.2230223503
        Long
        RA
        CORP
        US
        N
        
        2
        
          2022-04-01
          Fixed
          0.05
          N
          N
          N
        
        
          Repurchase
          
            
              
            
          
          Y
          .3
          2022-04-01
          
            
              299419.948188598976
              USD
              305408.352704947550
              USD
              UST
            
          
        
        
          
          N
          N
        
      
      
        FEDERATED
        N/A
        GOVERNMENT OBLIGATIONS IS #5
        60934N104
        
          
          
        
        223305.45
        NS
        USD
        223305.45
        0.9121219568
        Long
        DBT
        USGA
        US
        N
        
        1
        
          N/A
          Fixed
          5.48
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VANGUARD ADMIRAL FDS INC
        5493002789CX3L0CJP65
        VANGUARD S&P MID-CAP 400 ETF
        921932885
        
          
          
        
        15451
        NS
        USD
        2809146.31
        11.4743461441
        Long
        EC
        CORP
        US
        N
        
        1
        
          N/A
          Fixed
          0
          N
          N
          N
        
        
          N
          N
          
        
      
      
        VANGUARD
        N/A
        VANGUARD TOTAL BOND MARKETMARKET ETF
        921937835
        
          
          
        
        121659
        NS
        USD
        9676756.86
        39.5260500916
        Long
        EC
        CORP
        US
        N
        
        1
        
          N/A
          Fixed
          0
          N
          N
          N
        
        
          N
          N
          
        
      
      
        VANGUARD TAX MANAGED INTL FD
        5493002789CX3L0CJP65
        VANGUARD FTSE DEVELOPED ETFPACIFIC ETF
        921943858
        
          
          
        
        69933
        NS
        USD
        3358881.99
        13.7198174667
        Long
        EC
        CORP
        US
        N
        
        1
        
          N/A
          Fixed
          0
          N
          N
          N
        
        
          N
          N
          
        
      
      
        VANGUARD INTL EQUITY INDEX FD
        5493002789CX3L0CJP65
        FTSE EMERGING MARKETS ETF
        922042858
        
          
          
        
        24177
        NS
        USD
        1115285.01
        4.5555356830
        Long
        EC
        CORP
        US
        N
        
        1
        
          N/A
          Fixed
          0
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Vanguard Scottsdal
        549300Y88GQ3VLJIBX57
        Vanguard Scottsdal VNG RUS2000IDX
        92206C664
        
          
          
        
        26595
        NS
        USD
        2203395.75
        9.0000743065
        Long
        EC
        RF
        US
        N
        
        1
        
          N/A
          Fixed
          0
          N
          N
          N
        
        
          N
          N
          
        
      
      
        VANGUARD INDEX FDS
        5493002789CX3L0CJP65
        S&P 500 ETF
        922908363
        
          
          
        
        12284
        NS
        USD
        5099948.29
        20.8314432709
        Long
        EC
        CORP
        US
        N
        
        1
        
          N/A
          Fixed
          0
          N
          N
          N
        
        
          N
          N
          N
        
      
    
    
      2022-05-17
      GREAT-WEST FUNDS INC
      /s/Kelly New
      Kelly New
      Treasurer, Great-West Funds, Inc.
    
  
  XXXX
GREAT-WEST FUNDS, INC.
GREAT-WEST SECUREFOUNDATION® BALANCED ETF FUND
Schedule of Investments
As of March 31, 2022 (Unaudited)
Shares   Fair Value
BOND EXCHANGE TRADED FUNDS
121,659 Vanguard Total Bond Market ETF(a) $ 9,676,757
     
TOTAL BOND EXCHANGE TRADED FUNDS — 39.53%
(Cost $10,178,506) 		$9,676,757
EQUITY EXCHANGE TRADED FUNDS
69,933 Vanguard FTSE Developed Markets ETF(a)  3,358,882
24,177 Vanguard FTSE Emerging Markets ETF  1,115,285
26,595 Vanguard Russell 2000 ETF(a)  2,203,396
12,284 Vanguard S&P 500® ETF 5,099,948
15,451 Vanguard S&P Mid-Cap 400® ETF(a) 2,809,146
     
EQUITY EXCHANGE TRADED FUNDS — 59.59%
(Cost $10,816,445) 		$14,586,657
GOVERNMENT MONEY MARKET MUTUAL FUNDS
223,306 Federated Hermes Government Obligations Fund Institutional Class, 0.14%(b) 223,306
TOTAL GOVERNMENT MONEY MARKET MUTUAL FUNDS — 0.91%
(Cost $223,305) 		$223,306
Principal Amount   Fair Value
SHORT TERM INVESTMENTS
Repurchase Agreements — 1.22%
$299,206 Undivided interest of 1.91% in a repurchase agreement (principal amount/value $15,668,589 with a maturity value of $15,668,720) with Citigroup Global Markets Inc, 0.30%, dated 3/31/22 to be repurchased at $299,206 on 4/1/22 collateralized by U.S. Treasury securities, 0.00% - 4.38%, 5/3/22 - 8/15/51, with a value of $15,981,961.(c) $   299,206
TOTAL SHORT TERM INVESTMENTS — 1.22%
(Cost $299,206) 		$299,206
TOTAL INVESTMENTS — 101.25%
(Cost $21,517,462) 		$24,785,926
OTHER ASSETS & LIABILITIES, NET — (1.25)% $(305,841)
TOTAL NET ASSETS — 100.00% $24,480,085
 
(a)  All or a portion of the security is on loan at March 31, 2022.
(b)  Rate shown is the 7-day yield as of March 31, 2022.
(c)  Collateral received for securities on loan.
ETF  Exchange Traded Fund
See Notes to Schedule of Investments.
March 31, 2022

 

GREAT-WEST FUNDS, INC.
GREAT-WEST SECUREFOUNDATION® BALANCED ETF FUND
Notes to Schedule of Investments (Unaudited)
Security Valuation
The Board of Directors of the Fund 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 investment adviser, Great-West Capital Management, LLC, to complete valuation determinations under those policies and procedures.
The Fund generally values its Exchange Traded Funds (ETFs) 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. 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. The net asset value 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.
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.
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.
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. 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.
Class Inputs
Exchange Traded Funds Exchange traded close price.
Government Money Market Mutual Funds Net asset value of underlying mutual fund.
Short Term Investments Maturity date, credit quality and interest rates
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. Unobservable inputs reflect the reporting Fund’s own assumptions and would be based on the best information available under the circumstances.
March 31, 2022

 

As of March 31, 2022, the Fund’s investments in the underlying ETFs and Government Money Market Mutual Funds are valued using Level 1 inputs. The Fund’s investments in short term securities are valued using Level 2 inputs. More information regarding the Fund’s sector classifications are included in the Schedule of Investments.
Fund-of-Funds Structure Risk
Since the Fund invests directly in underlying funds, all risks associated with the eligible underlying funds apply to the Fund. To the extent the Fund invests more of its assets in one underlying fund than another, the Fund will have greater exposure to the risks of that underlying fund.
Repurchase Agreements
The Fund may engage in repurchase agreement transactions with institutions that the Fund’s investment adviser has determined are creditworthy. The Fund 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 Fund’s 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.
March 31, 2022