Schedule of Investments
July 31, 2022
(Unaudited)
  Shares Value
Common Stocks & Other Equity Interests–95.00%
Belgium–0.95%
Biocartis Group N.V.(a)(b)(c) 6,000,000    $10,571,935
Materialise N.V., ADR(a)(c) 2,900,000    40,716,000
      51,287,935
Canada–0.64%
Shopify, Inc., Class A(c) 1,000,000    34,830,000
Denmark–4.08%
Atlantic Sapphire ASA (Acquired 12/16/2021-02/09/2022; Cost $18,479,287)(d) 4,411,000    10,160,167
Bavarian Nordic A/S(c) 2,880,000   143,136,982
Genmab A/S(c) 100,000    35,606,823
Novozymes A/S, Class B 500,000    31,916,960
      220,820,932
Finland–0.59%
Rovio Entertainment OYJ(a)(b) 4,700,000    31,843,426
France–1.89%
Mersen S.A. 1,000,000    35,152,043
Technicolor S.A.(c) 8,983,319    28,869,411
Technicolor S.A., Wts., expiring 09/22/2024(c) 1,100,000       200,117
Teleperformance 50,000    16,735,003
Ubisoft Entertainment S.A.(c) 500,000    21,262,725
      102,219,299
Germany–7.60%
AIXTRON SE 4,000,000   102,600,516
Aumann AG(a)(b) 1,000,000    14,314,290
Basler AG(a) 1,800,000    68,570,241
Carl Zeiss Meditec AG, BR 200,000    29,073,811
CompuGroup Medical SE & Co. KGaA 500,000    21,606,304
Manz AG(a) 500,000    18,215,601
MorphoSys AG(c) 400,000     8,828,178
PVA TePla AG(a)(c) 2,887,082    63,027,610
Rational AG 80,000    55,641,735
SLM Solutions Group AG(a)(c) 2,400,000    29,792,812
      411,671,098
Ireland–0.68%
Ads-Tec Energy PLC(c) 2,319,856    16,888,552
Flutter Entertainment PLC(c) 200,000    20,094,443
      36,982,995
Isle of Man–0.27%
Kape Technologies PLC(c) 4,000,000    14,562,494
Israel–0.44%
Wix.com Ltd.(c) 400,000    23,732,000
Italy–2.22%
Amplifon S.p.A. 1,000,000    33,101,611
Brunello Cucinelli S.p.A. 1,500,000    87,254,819
      120,356,430
  Shares Value
Japan–12.41%
Comture Corp.(a) 3,000,000    $67,680,317
CyberAgent, Inc. 5,200,000    51,945,576
Disco Corp. 200,000    48,621,201
Jeol Ltd. 2,500,000   113,790,123
M3, Inc. 3,000,000   105,021,619
Nidec Corp. 600,000    41,741,993
Nikon Corp. 2,000,000    22,966,803
Optex Group Co. Ltd.(a) 2,000,000    31,090,946
PeptiDream, Inc.(c) 3,000,000    37,618,020
Rakuten Group, Inc. 6,000,000    29,703,963
Rheon Automatic Machinery Co. Ltd. 1,000,000     9,759,830
THK Co. Ltd. 2,000,000    42,441,113
Yaskawa Electric Corp. 2,000,000    70,010,187
      672,391,691
Norway–3.31%
Mowi ASA 4,000,000    92,042,219
Nordic Semiconductor ASA(c) 4,999,999    87,131,373
      179,173,592
Singapore–0.70%
STMicroelectronics N.V. 1,000,000    38,047,231
Sweden–6.38%
AddTech AB, Class B 3,000,000    51,340,306
Beijer Ref AB 4,122,022    65,309,680
BICO Group AB, Class B(c) 1,000,000     3,953,776
Bio-Works Technologies AB 3,119         5,601
Boozt AB(a)(b)(c) 3,750,000    26,391,354
Hansa Biopharma AB 1,938,841    15,522,403
Indutrade AB 4,507,409   105,976,367
Midsona AB, Class B 1,000,000     2,258,525
RaySearch Laboratories AB(a)(c) 4,000,000    28,612,267
Surgical Science Sweden AB(c) 1,000,000    15,695,903
Tobii AB(c) 3,000,000     7,803,757
Xvivo Perfusion AB(c) 1,000,000    22,614,971
      345,484,910
Switzerland–0.23%
GeNeuro S.A.(a) 2,457,241     5,425,946
Zur Rose Group AG(c) 100,000     7,180,044
      12,605,990
United Kingdom–13.18%
Allied Minds PLC(c) 10,000,000     2,378,534
AO World PLC(c) 20,000,000    10,588,672
ASOS PLC(c) 700,000     8,925,843
Aston Martin Lagonda Global Holdings PLC(b)(c) 14,000,000    81,908,694
boohoo Group PLC(c) 30,000,000    24,716,892
Darktrace PLC(c) 7,170,000    32,832,569
FD Technologies PLC(c) 1,200,000    28,650,941
Fevertree Drinks PLC 2,000,000    26,291,821
Frontier Developments PLC(a)(c) 3,000,000    56,833,873
Future PLC 1,000,000    22,371,173
Gooch & Housego PLC(a) 2,000,000    21,265,469
 
See accompanying notes which are an integral part of this schedule.
Invesco Global Opportunities Fund
  Shares Value
United Kingdom–(continued)
IG Group Holdings PLC 3,000,000    $29,148,674
IP Group PLC 20,785,545    21,997,539
IQE PLC(a)(c) 140,000,000    75,225,494
M&C Saatchi PLC(c) 6,044,563    11,287,962
Ocado Group PLC(c) 1,000,000    10,266,689
Oxford Nanopore Technologies PLC(c) 23,000,000    90,107,265
Rentokil Initial PLC 5,000,000    33,067,748
Spirax-Sarco Engineering PLC 464,285    67,793,331
WANdisco PLC(a)(c) 5,000,000    19,236,500
Xaar PLC(a)(c) 6,000,000    16,530,427
Zoo Digital Group PLC(a)(c) 7,000,000    10,846,930
Zotefoams PLC(a) 4,000,000    12,129,857
      714,402,897
United States–39.43%
3D Systems Corp.(c) 5,000,000    57,200,000
Acacia Research Corp.(a)(c) 2,500,000    12,600,000
Advanced Micro Devices, Inc.(c) 4,000,000   377,880,000
Align Technology, Inc.(c) 100,000    28,097,000
Applied Materials, Inc. 600,000    63,588,000
Arrowhead Pharmaceuticals, Inc.(c) 2,000,000    85,060,000
Cognex Corp. 1,200,000    61,176,000
Exact Sciences Corp.(c) 1,800,000    81,180,000
Globant S.A.(c) 200,000    39,848,000
Halozyme Therapeutics, Inc.(c) 1,000,000    48,900,000
II-VI Incorporated(c) 1,000,000    52,640,000
IPG Photonics Corp.(c) 600,000    63,948,000
iRobot Corp.(c) 700,000    32,207,000
Littelfuse, Inc. 400,000   111,548,000
Manhattan Associates, Inc.(c) 600,000    84,402,000
Nektar Therapeutics(a)(c) 35,770,000   141,649,200
  Shares Value
United States–(continued)
Nevro Corp.(c) 1,000,000    $43,350,000
ON Semiconductor Corp.(c) 1,000,000    66,780,000
PDF Solutions, Inc.(a)(c) 3,000,000    80,940,000
PTC, Inc.(c) 1,200,000   148,056,000
QUALCOMM, Inc. 500,000    72,530,000
Rigel Pharmaceuticals, Inc.(c) 5,000,000     5,950,000
Rite Aid Corp.(c) 2,500,000    20,575,000
Rollins, Inc. 1,250,000    48,212,500
Shake Shack, Inc., Class A(c) 1,000,000    51,460,000
Unity Software, Inc.(c) 200,000     7,478,000
Veeco Instruments, Inc.(a)(c) 3,000,000    65,400,000
Vicor Corp.(c) 500,000    36,480,000
Wolfspeed, Inc.(c) 1,000,000    83,300,000
Xeris Biopharma Holdings, Inc.(c) 2,000,000     2,840,000
Yelp, Inc.(c) 2,000,000    61,320,000
      2,136,594,700
Total Common Stocks & Other Equity Interests (Cost $5,445,915,418) 5,147,007,620
Money Market Funds–4.82%
Invesco Government & Agency Portfolio, Institutional Class, 1.71%(a)(e) 93,805,105    93,805,105
Invesco Liquid Assets Portfolio, Institutional Class, 1.67%(a)(e) 60,166,715    60,166,715
Invesco Treasury Portfolio, Institutional Class, 1.66%(a)(e) 107,205,835   107,205,835
Total Money Market Funds (Cost $261,170,273) 261,177,655
TOTAL INVESTMENTS IN SECURITIES—99.82% (Cost $5,707,085,691) 5,408,185,275
OTHER ASSETS LESS LIABILITIES–0.18% 9,875,411
NET ASSETS–100.00% $5,418,060,686
Investment Abbreviations:
ADR – American Depositary Receipt
BR – Bearer Shares
Wts. – Warrants
Notes to Schedule of Investments:
(a) Affiliated issuer. The issuer is affiliated by having an investment adviser that is under common control of Invesco Ltd. and/or the Investment Company Act of 1940, as amended (the “1940 Act”), defines “affiliated person” to include an issuer of which a fund holds 5% or more of the outstanding voting securities. The Fund has not owned enough of the outstanding voting securities of the issuer to have control (as defined in the 1940 Act) of that issuer. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended July 31, 2022.
    
  Value
October 31, 2021 		Purchases
at Cost 		Proceeds
from Sales 		Change in
Unrealized
Appreciation
(Depreciation) 		Realized
Gain
(Loss) 		Value
July 31, 2022 		Dividend Income
Investments in Affiliated Money Market Funds:              
Invesco Government & Agency Portfolio, Institutional Class $21,788,683 $376,884,261 $(304,867,839) $- $- $93,805,105 $230,727
Invesco Liquid Assets Portfolio, Institutional Class 5,221,390 269,203,042 (214,254,311) 7,382 (10,788) 60,166,715 92,356
Invesco Treasury Portfolio, Institutional Class 24,901,352 430,724,870 (348,420,387) - - 107,205,835 166,236
See accompanying notes which are an integral part of this schedule.
Invesco Global Opportunities Fund
  Value
October 31, 2021 		Purchases
at Cost 		Proceeds
from Sales 		Change in
Unrealized
Appreciation
(Depreciation) 		Realized
Gain
(Loss) 		Value
July 31, 2022 		Dividend Income
Investments in Other Affiliates:              
Acacia Research Corp. $14,325,000 $- $- $(1,725,000) $- $12,600,000 $-
Aumann AG 18,753,868 - - (4,439,577) - 14,314,290 78,422
Basler AG 111,168,781 - - (42,598,540) - 68,570,241 293,920
Biocartis Group N.V. 27,411,964 - - (16,840,029) - 10,571,935 -
Boozt AB 63,215,117 - - (36,823,763) - 26,391,354 -
Comture Corp. 81,268,627 - - (13,588,310) - 67,680,317 683,988
Frontier Developments PLC 101,325,060 - - (44,491,187) - 56,833,873 -
GeNeuro S.A. 7,299,053 2,394,590 - (4,267,697) - 5,425,946 -
Gooch & Housego PLC 32,827,448 - - (11,561,979) - 21,265,469 324,782
IQE PLC 90,237,060 - - (15,011,566) - 75,225,494 -
M&C Saatchi PLC* 14,640,104 - (1,513,837) (2,767,422) 929,117 11,287,962 -
Manz AG 26,127,086 - - (7,911,485) - 18,215,601 -
Materialise N.V., ADR 69,977,000 - - (29,261,000) - 40,716,000 -
Nektar Therapeutics 526,810,000 13,460,605 - (398,621,405) - 141,649,200 -
Optex Group Co. Ltd. 25,450,031 - - 5,640,915 - 31,090,946 472,060
PDF Solutions, Inc. 70,590,000 - - 10,350,000 - 80,940,000 -
PVA TePla AG 131,180,793 - - (68,153,183) - 63,027,610 -
RaySearch Laboratories AB 28,489,106 - - 123,161 - 28,612,267 -
Rovio Entertainment OYJ 38,576,764 - - (6,733,338) - 31,843,426 521,227
SLM Solutions Group AG 47,439,244 - - (17,646,432) - 29,792,812 -
Veeco Instruments, Inc. 97,160,000 - (23,601,268) (14,731,467) 6,572,735 65,400,000 -
WANdisco PLC 23,101,909 - - (3,865,409) - 19,236,500 -
Xaar PLC 9,468,543 6,448,814 - 613,070 - 16,530,427 -
Zoo Digital Group PLC 12,117,118 - - (1,270,188) - 10,846,930 -
Zotefoams PLC 19,687,795 - - (7,557,939) - 12,129,857 217,307
Total $1,740,558,896 $1,099,116,182 $(892,657,642) $(733,132,388) $7,491,064 $1,221,376,112 $3,081,025
    
* At July 31, 2022, this security was was no longer an affiliate of the Fund.
    
(b) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at July 31, 2022 was $165,029,699, which represented 3.05% of the Fund’s Net Assets.
(c) Non-income producing security.
(d) Restricted security. The aggregate value of these securities at July 31, 2022 was $10,160,167, which represented less than 1% of the Fund’s Net Assets.
(e) The rate shown is the 7-day SEC standardized yield as of July 31, 2022.
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Invesco Global Opportunities Fund
Notes to Quarterly Schedule of Portfolio Holdings
July 31, 2022
(Unaudited)
NOTE 1—Additional Valuation Information
Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available or are unreliable. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:
Level 1 – Prices are determined using quoted prices in an active market for identical assets.
Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.
Level 3 – Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Fund’s own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.
The following is a summary of the tiered valuation input levels, as of July 31, 2022. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
  Level 1 Level 2 Level 3 Total
Investments in Securities        
Belgium $40,716,000 $10,571,935 $— $51,287,935
Canada 34,830,000 — — 34,830,000
Denmark — 220,820,932 — 220,820,932
Finland — 31,843,426 — 31,843,426
France 200,117 102,019,182 — 102,219,299
Germany — 411,671,098 — 411,671,098
Ireland 16,888,552 20,094,443 — 36,982,995
Isle of Man — 14,562,494 — 14,562,494
Israel 23,732,000 — — 23,732,000
Italy — 120,356,430 — 120,356,430
Japan — 672,391,691 — 672,391,691
Norway — 179,173,592 — 179,173,592
Singapore — 38,047,231 — 38,047,231
Sweden — 345,484,910 — 345,484,910
Switzerland — 12,605,990 — 12,605,990
United Kingdom — 714,402,897 — 714,402,897
United States 2,136,594,700 — — 2,136,594,700
Money Market Funds 261,177,655 — — 261,177,655
Total Investments $2,514,139,024 $2,894,046,251 $— $5,408,185,275
Invesco Global Opportunities Fund