Shareholder Report
Jun. 30, 2026
USD ($)
Holdings
Fund Expenses for the period ended
June
30
, 2026(Based on a hypothetical $10,000 investment)
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Empower SecureFoundation ® Balanced Fund(Class L/MXLDX) | $ 87 | 0.83 % (a) |
(a) | The Fund’s annualized expense ratio includes expenses borne directly by the class plus the Fund’s pro-rata share of the weighted average expense ratio of the underlying funds in which it invests (0.15%). |
Key Fund Statistics
The following table outlines key fund statistics that you should pay attention to.
Fund net assets | $ 741M |
Total number of portfolio holdings | 7 |
Total advisory fee paid | $ 0.4M |
Portfolio turnover rate as of the end of the reporting period (not annualized) | 7 % |
Graphical Representation of Holdings
The tables below show the investment makeup of the Fund, representing percentages of the total investments of the Fund.
Top Ten Holdings
| Empower Bond Index Fund Institutional Class | 34.94 % |
| Empower S&P 500 ® Index Fund Institutional Class | 23.11 % |
| Empower International Index Fund Institutional Class | 13.76 % |
| Empower S&P Mid Cap 400 ® Index Fund Institutional Class | 10.91 % |
| Empower S&P Small Cap 600 ® Index Fund Institutional Class | 7.87 % |
| Empower of America Contract | 4.99 % |
| Fidelity ® Emerging Markets Index Fund Institutional Class | 4.42 % |
ASSET CLASS ALLOCATION
Top Ten Holdings
| Empower Bond Index Fund Institutional Class | 34.94 % |
| Empower S&P 500 ® Index Fund Institutional Class | 23.11 % |
| Empower International Index Fund Institutional Class | 13.76 % |
| Empower S&P Mid Cap 400 ® Index Fund Institutional Class | 10.91 % |
| Empower S&P Small Cap 600 ® Index Fund Institutional Class | 7.87 % |
| Empower of America Contract | 4.99 % |
| Fidelity ® Emerging Markets Index Fund Institutional Class | 4.42 % |
Material Fund Changes
There were no material changes to the Fund during the reporting period.
Changes in and Disagreements with Accountants
There were no changes in or disagreements with the Fund's accountants during the reporting period.
Fund Expenses for the period ended
June
30
, 2026(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Empower SecureFoundation ® Balanced Fund(Institutional Class/MXCJX) | $ 24 | 0.23 % (a) |
(a) | The Fund’s annualized expense ratio includes expenses borne directly by the class plus the Fund’s pro-rata share of the weighted average expense ratio of the underlying funds in which it invests (0.15%). |
Key Fund Statistics
The following table outlines key fund statistics that you should pay attention to.
| Fund net assets | $ 741M |
| Total number of portfolio holdings | 7 |
| Total advisory fee paid | $ 0.4M |
| Portfolio turnover rate as of the end of the reporting period (not annualized) | 7 % |
Graphical Representation of Holdings
The tables below show the investment makeup of the Fund, representing percentages of the total investments of the Fund.
Top Ten Holdings
| Empower Bond Index Fund Institutional Class | 34.94 % |
| Empower S&P 500 ® Index Fund Institutional Class | 23.11 % |
| Empower International Index Fund Institutional Class | 13.76 % |
| Empower S&P Mid Cap 400 ® Index Fund Institutional Class | 10.91 % |
| Empower S&P Small Cap 600 ® Index Fund Institutional Class | 7.87 % |
| Empower of America Contract | 4.99 % |
| Fidelity ® Emerging Markets Index Fund Institutional Class | 4.42 % |
ASSET CLASS ALLOCATION
Top Ten Holdings
| Empower Bond Index Fund Institutional Class | 34.94 % |
| Empower S&P 500 ® Index Fund Institutional Class | 23.11 % |
| Empower International Index Fund Institutional Class | 13.76 % |
| Empower S&P Mid Cap 400 ® Index Fund Institutional Class | 10.91 % |
| Empower S&P Small Cap 600 ® Index Fund Institutional Class | 7.87 % |
| Empower of America Contract | 4.99 % |
| Fidelity ® Emerging Markets Index Fund Institutional Class | 4.42 % |
Material Fund Changes
There were no material changes to the Fund during the reporting period.
Changes in and Disagreements with Accountants
There were no changes in or disagreements with the Fund's accountants during the reporting period.
Fund Expenses for the period ended
June
30
, 2026(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Empower SecureFoundation ® Balanced Fund(Investor Class/MXSBX) | $ 61 | 0.58 % (a) |
(a) | The Fund’s annualized expense ratio includes expenses borne directly by the class plus the Fund’s pro-rata share of the weighted average expense ratio of the underlying funds in which it invests (0.15%). |
Key Fund Statistics
The following table outlines key fund statistics that you should pay attention to.
| Fund net assets | $ 741M |
| Total number of portfolio holdings | 7 |
| Total advisory fee paid | $ 0.4M |
| Portfolio turnover rate as of the end of the reporting period (not annualized) | 7 % |
Graphical Representation of Holdings
The tables below show the investment makeup of the Fund, representing percentages of the total investments of the Fund.
Top Ten Holdings
| Empower Bond Index Fund Institutional Class | 34.94 % |
| Empower S&P 500 ® Index Fund Institutional Class | 23.11 % |
| Empower International Index Fund Institutional Class | 13.76 % |
| Empower S&P Mid Cap 400 ® Index Fund Institutional Class | 10.91 % |
| Empower S&P Small Cap 600 ® Index Fund Institutional Class | 7.87 % |
| Empower of America Contract | 4.99 % |
| Fidelity ® Emerging Markets Index Fund Institutional Class | 4.42 % |
ASSET CLASS ALLOCATION
Top Ten Holdings
| Empower Bond Index Fund Institutional Class | 34.94 % |
| Empower S&P 500 ® Index Fund Institutional Class | 23.11 % |
| Empower International Index Fund Institutional Class | 13.76 % |
| Empower S&P Mid Cap 400 ® Index Fund Institutional Class | 10.91 % |
| Empower S&P Small Cap 600 ® Index Fund Institutional Class | 7.87 % |
| Empower of America Contract | 4.99 % |
| Fidelity ® Emerging Markets Index Fund Institutional Class | 4.42 % |
Material Fund Changes
There were no material changes to the Fund during the reporting period.
Changes in and Disagreements with Accountants
There were no changes in or disagreements with the Fund's accountants during the reporting period.
Fund Expenses for the period
ended
June
30
, 2026(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Empower SecureFoundation ® Balanced Fund(Service Class/MXSHX) | $ 71 | 0.68 % (a) |
(a) | The Fund’s annualized expense ratio includes expenses borne directly by the class plus the Fund’s pro-rata share of the weighted average expense ratio of the underlying funds in which it invests (0.15%). |
Key Fund Statistics
The following table outlines key fund statistics that you should pay attention to.
| Fund net assets | $ 741M |
| Total number of portfolio holdings | 7 |
| Total advisory fee paid | $ 0.4M |
| Portfolio turnover rate as of the end of the reporting period (not annualized) | 7 % |
Graphical Representation of Holdings
The tables below show the investment makeup of the Fund, representing percentages of the total investments of the Fund.
Top Ten Holdings
| Empower Bond Index Fund Institutional Class | 34.94 % |
| Empower S&P 500 ® Index Fund Institutional Class | 23.11 % |
| Empower International Index Fund Institutional Class | 13.76 % |
| Empower S&P Mid Cap 400 ® Index Fund Institutional Class | 10.91 % |
| Empower S&P Small Cap 600 ® Index Fund Institutional Class | 7.87 % |
| Empower of America Contract | 4.99 % |
| Fidelity ® Emerging Markets Index Fund Institutional Class | 4.42 % |
ASSET CLASS ALLOCATION
Top Ten Holdings
| Empower Bond Index Fund Institutional Class | 34.94 % |
| Empower S&P 500 ® Index Fund Institutional Class | 23.11 % |
| Empower International Index Fund Institutional Class | 13.76 % |
| Empower S&P Mid Cap 400 ® Index Fund Institutional Class | 10.91 % |
| Empower S&P Small Cap 600 ® Index Fund Institutional Class | 7.87 % |
| Empower of America Contract | 4.99 % |
| Fidelity ® Emerging Markets Index Fund Institutional Class | 4.42 % |
Material Fund Changes
There were no material changes to the Fund during the reporting period.
Changes in and Disagreements with Accountants
There were no changes in or disagreements with the Fund's accountants during the reporting period.
Fund Expenses for the period
ended
June
30
, 2026(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Empower SecureFoundation ® Balanced ETF Fund(Class A/SFBPX) | $ 28 | 0.27 % (a) |
(a) | The Fund’s annualized expense ratio includes expenses borne directly by the class plus the Fund’s pro-rata share of the weighted average expense ratio of the underlying funds in which it invests (0.04%). |
Key Fund Statistics
The following table outlines key fund statistics that you should pay attention to.
| Fund net assets | $ 17M |
| Total number of portfolio holdings | 8 |
| Total advisory fee paid | $ 0.0M(a) |
| Portfolio turnover rate as of the end of the reporting period (not annualized) | 6 % |
(a) | Amount represents less than $50K. |
Graphical Representation of Holdings
The tables below show the investment makeup of the Fund, representing percentages of the total investments of the Fund.
Top Ten Holdings
| Vanguard Total Bond Market ETF | 38.23 % |
| Vanguard S&P 500 ® ETF | 20.34 % |
| Vanguard FTSE Developed Markets ETF | 13.36 % |
| Vanguard S&P Mid-Cap 400 ® ETF | 11.30 % |
| Vanguard Russell 2000 ETF | 8.80 % |
| Vanguard FTSE Emerging Markets ETF | 4.47 % |
| Federated Hermes Government Obligations Fund Institutional Class | 1.92 % |
| Dreyfus Institutional Preferred Government Money Market Fund Institutional Class | 1.58 % |
ASSET CLASS ALLOCATION
Top Ten Holdings
| Vanguard Total Bond Market ETF | 38.23 % |
| Vanguard S&P 500 ® ETF | 20.34 % |
| Vanguard FTSE Developed Markets ETF | 13.36 % |
| Vanguard S&P Mid-Cap 400 ® ETF | 11.30 % |
| Vanguard Russell 2000 ETF | 8.80 % |
| Vanguard FTSE Emerging Markets ETF | 4.47 % |
| Federated Hermes Government Obligations Fund Institutional Class | 1.92 % |
| Dreyfus Institutional Preferred Government Money Market Fund Institutional Class | 1.58 % |
Material Fund Changes
There were no material changes to the Fund during the reporting period.
Changes in and Disagreements with Accountants
There were no changes in or disagreements with the Fund's accountants during the reporting period.
| [1] | The Fund’s annualized expense ratio includes expenses borne directly by the class plus the Fund’s pro-rata share of the weighted average expense ratio of the underlying funds in which it invests (0.15%). |
| [2] | The Fund’s annualized expense ratio includes expenses borne directly by the class plus the Fund’s pro-rata share of the weighted average expense ratio of the underlying funds in which it invests (0.04%). |
| [3] | Amount represents less than $50K. |