DOSSIER · 13F-HR · Q1 2026

Empower Advisory Group, LLC

$38.5B in tracked AUM across 511 positions as of Q1 2026.

EA
CIK 0001978885 · last filed Mar 31, 2026
Total AUM
$38.5B
as of Q1 2026
Holdings
511
positions
Whale Score
65
65
tracked
Activity
no data
changes this Q
AI Analysis · Q1 2026

Empower Advisory Group LLC, the registered investment advisory arm powering Empower's bulk-defined contribution and managed-account platform, discloses $39B in U.S. equity and ETF holdings. The portfolio reflects the managed-account overlay model—a substantial ETF core (SPY, IVV, IUSB, QQQ) combined with equity manager-of-managers sub-accounts that re-balance across style-specific equity mutual fund sleeves.

ETF Core

Expect a top-10 dominated by the broad-market access vehicles: SPY, IVV, IUSB, QQQ, VOO, and VTI—each positioned as the equity sleeve anchor for a defined-contribution glide-path across risk profiles.

Manager-of-Managers Structure

The equity sleeve within each model delegates to underlying equity managers, reflected as holdings in the appropriate mutual fund or sub-advised vehicle. This produces a multi-layered book where the RIA swaps managers over time, producing characteristic rebalancing activity at the fund level rather than the stock level.

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
SCHF
SCHWAB STRATEGIC TR
$4.6B185.7M11.9%
02
IWM
ISHARES TR
$2.1B8.6M5.5%
03
VWO
VANGUARD INTL EQUITY INDEX F
$1.9B35.5M5.0%
04
BSV
VANGUARD BD INDEX FDS
$1.8B22.5M4.6%
05
VNQ
VANGUARD INDEX FDS
$1.5B16.9M3.9%
06
SCHP
SCHWAB STRATEGIC TR
$1.4B53.1M3.7%
07
VGIT
VANGUARD SCOTTSDALE FDS
$1.4B23.6M3.6%
08
SCHA
SCHWAB STRATEGIC TR
$1.1B36.9M2.8%
09
USIG
ISHARES TR
$1.0B20.3M2.7%
10
VGLT
ANGUARD SCOTTSDALE FDS
$860M15.5M2.2%

Filing history

2026Q1Mar 31
$38.5B 4.0%
511 positionsView →
2025Q4Dec 31
$37.0B 2.7%
501 positionsView →
2025Q3Sep 30
$36.1B 8.0%
528 positionsView →
2025Q2Jun 30
$33.4B 9.0%
497 positionsLocked
2025Q1Mar 31
$30.6B 3.2%
495 positionsLocked
2024Q4Dec 31
$29.7B 0.4%
498 positionsLocked
2024Q3Sep 30
$29.6B 9.8%
502 positionsLocked
2024Q2Jun 30
$26.9B 0.9%
490 positionsLocked
2024Q1Mar 31
$26.7B 5.2%
495 positionsLocked
2023Q4Dec 31
$25.4B 12.3%
475 positionsLocked
2023Q3Sep 30
$22.6B 2.5%
459 positionsLocked
2023Q2Jun 30
$23.2B 4.2%
481 positionsLocked
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