Empowered Funds Portfolio holdings

AUM $8.83B

2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4

This Quarter Return

+6.4%

1 Year Return

+18.13%

3 Year Return

+75.5%

5 Year Return

+177.49%

10 Year Return

–

AUM

$2.84B

AUM Growth

+$2.84B (+68%)

Cap. Flow

+$1.09B

Cap. Flow % of AUM

38.39%

Top 10 Holdings % Top 10 Hldgs %

16.34%

Holding

1,192

New

682

Increased

319

Reduced

117

Closed

Top Buys

1	SPDR Bloomberg 1-3 Month T-Bill ETF BIL	$22.9M
2	iShares 0-3 Month Treasury Bond ETF SGOV	$17M
3	Invesco S&P 500 Equal Weight ETF RSP	$16M
4	Schwab US Large- Cap ETF SCHX	$15.9M
5	iShares Treasury Floating Rate Bond ETF TFLO	$15.8M

Top Sells

1	Schwab US TIPS ETF SCHP	$22.2M
2	PIMCO 15+ Year US TIPS Index Exchange-Traded Fund LTPZ	$16.3M
3	iShares MSCI Hong Kong ETF EWH	$12.2M
4	Vanguard Short-Term Inflation-Protected Securities Index Fund VTIP	$12.1M
5	abrdn Physical Gold Shares ETF SGOL	$11.7M

Sector Composition

1	Energy	19.98%
2	Financials	12.28%
3	Technology	11.57%
4	Industrials	10.97%
5	Consumer Discretionary	10.91%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
1176	1176 Pinterest PINS $25.2B	–	–	-17,055	Closed	-$465K
1177	1177 QuidelOrtho QDEL $1.87B	–	–	-22,199	Closed	-$1.98M
1178	1178 Qualys QLYS $4.9B	–	–	-6,087	Closed	-$791K
1179	1179 Invesco QQQ Trust QQQ $364B	–	–	-22,308	Closed	-$7.16M
1180	1180 Regions Financial RF $24B	–	–	-172,063	Closed	-$3.19M
1181	1181 Sturm, Ruger & Co RGR $554M	–	–	-17,152	Closed	-$985K
1182	1182 RH RH $4.14B	–	–	-2,664	Closed	-$649K
1183	1183 Schwab Emerging Markets Equity ETF SCHE $10.8B	–	–	-204,149	Closed	-$5.01M
1184	1184 Sealed Air SEE $4.76B	–	–	-14,863	Closed	-$682K
1185	1185 abrdn Physical Gold Shares ETF SGOL $5.67B	–	–	-621,618	Closed	-$11.7M
1186	1186 abrdn Physical Silver Shares ETF SIVR $2.54B	–	–	-54,553	Closed	-$1.26M
1187	1187 Sun Life Financial SLF $32.6B	–	–	-17,467	Closed	-$816K
1188	1188 VanEck Semiconductor ETF SMH $26.6B	–	–	-16,067	Closed	-$4.23M
1189	1189 Schneider National SNDR $4.28B	–	–	-176,988	Closed	-$4.73M
1190	1190 Sarepta Therapeutics SRPT $1.98B	–	–	-22,257	Closed	-$3.07M
1191	1191 Texas Pacific Land TPL $20.9B	–	–	-1,529	Closed	-$2.6M
1192	1192 T Rowe Price TROW $23.2B	–	–	-8,750	Closed	-$988K