Schedule of Investments

January 31, 2023

(Unaudited)

Invesco EQV European Equity Fund

	Shares		Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds–0.30%
Invesco Private Government Fund, 4.36%(e)(f)(g)		442,393	$442,393
Invesco Private Prime Fund, 4.59%(e)(f)(g)		1,137,446	1,137,787
Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $1,580,181)			1,580,180
TOTAL INVESTMENTS IN SECURITIES—99.65% (Cost $426,125,264)			531,828,534
OTHER ASSETS LESS LIABILITIES–0.35%			1,894,322
NET ASSETS–100.00%			$533,722,856

Investment Abbreviations:

RSP	– Registered Savings Plan Shares

Notes to Schedule of Investments:

(a)	Non-income producing security.
(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 value of this security at January 31, 2023 represented 1.75% of the Fund’s Net Assets.
(c)	Security valued using significant unobservable inputs (Level 3). See Note 1.
(d)	All or a portion of this security was out on loan at January 31, 2023.
(e)	Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended January 31, 2023.

    

	Value October 31, 2022	Purchases at Cost	Proceeds from Sales	Change in Unrealized Appreciation (Depreciation)	Realized Gain	Value January 31, 2023	Dividend Income
Investments in Affiliated Money Market Funds:
Invesco Government & Agency Portfolio, Institutional Class	$1,920,372	$25,193,584	$(19,986,456)	$-	$-	$7,127,500	$31,602
Invesco Liquid Assets Portfolio, Institutional Class	1,639,220	17,995,418	(14,543,851)	(405)	696	5,091,078	25,161
Invesco Treasury Portfolio, Institutional Class	2,194,711	28,792,668	(22,841,664)	-	-	8,145,715	36,195
Investments Purchased with Cash Collateral from Securities on Loan:
Invesco Private Government Fund	3,165,143	10,336,876	(13,059,626)	-	-	442,393	23,116*
Invesco Private Prime Fund	8,136,806	27,116,368	(34,116,544)	(88)	1,245	1,137,787	63,189*
Total	$17,056,252	$109,434,914	$(104,548,141)	$(493)	$1,941	$21,944,473	$179,263

    

*	Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

    

(f)	The rate shown is the 7-day SEC standardized yield as of January 31, 2023.
(g)	The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.

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 EQV European Equity Fund

Notes to Quarterly Schedule of Portfolio Holdings

January 31, 2023

(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. 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 Invesco Advisers, Inc.’s 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 January 31, 2023. 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
China	$—	$13,265,614	$—	$13,265,614
Denmark	—	24,743,627	—	24,743,627
France	—	87,349,995	—	87,349,995
Germany	—	22,488,032	—	22,488,032
Hungary	—	14,775,291	—	14,775,291
Ireland	—	26,060,635	—	26,060,635
Italy	—	35,648,620	—	35,648,620
Netherlands	—	55,443,134	—	55,443,134
Norway	—	5,984,575	—	5,984,575
Russia	—	—	11	11
Spain	—	18,761,762	—	18,761,762
Sweden	—	44,710,129	—	44,710,129
Switzerland	—	2,817,325	—	2,817,325
Turkey	—	4,674,082	—	4,674,082
United Kingdom	5,846,386	98,667,615	—	104,514,001
United States	13,821,836	34,825,392	—	48,647,228
Money Market Funds	20,364,293	1,580,180	—	21,944,473
Total Investments	$40,032,515	$491,796,008	$11	$531,828,534

Invesco EQV European Equity Fund