Institutional Manager · CIK 0001978885

Empower Advisory Group, LLC

Greenwood Village, CO · File #028-23282

Latest AUM

$37.03B

Positions

501

Top-10 Concentration

56.7%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
REDUCE	SCHWAB STRATEGIC TR	808524805	-5,677,571	-$136.5M	+$141.7M
ADD	INVESCO EXCH TRADED FD TR II	IVZ	+1,948,557	+$133.4M	+$61,597
ADD	NETFLIX INC	NFLX	+1,341,420	+$125.8M	-$164.5M
ADD	VANGUARD BD INDEX FDS	921937827	+1,440,858	+$113.6M	-$2.0M
ADD	SCHWAB STRATEGIC TR	808524870	+4,063,320	+$107.6M	-$21.0M
ADD	VANGUARD INDEX FDS	922908553	+1,134,581	+$100.4M	-$44.0M
ADD	ISHARES TR	46435G516	+947,532	+$90.1M	+$11.8M
ADD	VANGUARD SCOTTSDALE FDS	92206C706	+1,464,575	+$87.8M	-$2.0M
ADD	ISHARES TR	464288620	+1,366,555	+$70.7M	-$7.9M
REDUCE	ISHARES TR	464287622	-159,616	-$59.6M	+$3.7M

Sector Allocation

Technology

5.5%$2.04B

Consumer Discretionary

3.5%$1.29B

3.1%$1.15B

2.8%$1.04B

2.4%$891.5M

2.3%$851.9M

1.9%$715.2M

1.7%$647.5M

1.7%$638.2M

Communication Services

1.7%$625.7M

Filing History

Feb 12, 202613F HOLDINGS REPORTQ/E Dec 2025501 pos · $37.03B
Nov 14, 202513F HOLDINGS REPORTQ/E Sep 2025528 pos · $36.08B
Aug 8, 202513F HOLDINGS REPORTQ/E Jun 2025497 pos · $33.39B
May 9, 202513F HOLDINGS REPORTQ/E Mar 2025495 pos · $30.64B
Jan 31, 202513F HOLDINGS REPORTQ/E Dec 2024498 pos · $29.69B
Nov 5, 202413F HOLDINGS REPORTQ/E Sep 2024502 pos · $29.58B
Jul 25, 202413F HOLDINGS REPORTQ/E Jun 2024490 pos · $26.94B
May 2, 202413F HOLDINGS REPORTQ/E Mar 2024495 pos · $26.71B
Nov 6, 202313F HOLDINGS REPORTQ/E Dec 2023459 pos · $22.62B

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	SCHWAB STRATEGIC TR	808524805	180,778,097	$4.35B	14.74%
2	ISHARES TR	464287655	8,470,296	$2.09B	7.07%
3	VANGUARD INTL EQUITY INDEX F	922042858	34,070,052	$1.83B	6.21%
4	VANGUARD BD INDEX FDS	921937827	20,972,198	$1.65B	5.61%
5	VANGUARD INDEX FDS	922908553	16,150,941	$1.43B	4.85%
6	SCHWAB STRATEGIC TR	808524870	49,666,971	$1.32B	4.46%
7	VANGUARD SCOTTSDALE FDS	92206C706	21,891,841	$1.31B	4.45%
8	ISHARES TR	464288620	18,917,043	$979.3M	3.32%
9	SCHWAB STRATEGIC TR	808524607	34,024,368	$969.0M	3.29%
10	VANGUARD SCOTTSDALE FDS	92206C847	14,411,863	$804.2M	2.73%
11	VANGUARD INTL EQUITY INDEX F	922042718	4,944,180	$708.6M	2.40%
12	VANGUARD INTL EQUITY INDEX F	922042676	14,158,418	$649.0M	2.20%
13	ALPHABET INC	GOOG	2,010,266	$630.8M	2.14%
14	ISHARES TR	46435G516	6,562,442	$624.0M	2.12%
15	APPLE INC	AAPL	2,129,082	$578.8M	1.96%
16	SPDR SERIES TRUST	78464A391	26,107,425	$557.9M	1.89%
17	VANGUARD INDEX FDS	922908769	1,656,574	$555.4M	1.88%
18	NVIDIA CORPORATION	NVDA	2,885,628	$538.2M	1.83%
19	WORLD GOLD TR	GLDW	5,868,543	$501.0M	1.70%
20	ISHARES TR	46434V407	11,141,123	$477.6M	1.62%