|
|
Shares
|
Value
|
|
|
Common Stocks & Other Equity Interests-99.95%
|
|||
|
Aluminum-1.19%
|
|||
|
Kaiser Aluminum Corp.
|
|
7,828
|
$605,183
|
|
Automotive Retail-1.50%
|
|||
|
Valvoline, Inc.(b)
|
|
21,604
|
761,541
|
|
Coal & Consumable Fuels-3.10%
|
|||
|
Uranium Energy Corp.(b)(c)
|
|
181,112
|
1,570,241
|
|
Commodity Chemicals-5.81%
|
|||
|
Cabot Corp.
|
|
10,843
|
782,648
|
|
Hawkins, Inc.(c)
|
|
6,456
|
1,054,135
|
|
PureCycle Technologies, Inc.(b)(c)
|
|
82,444
|
1,105,574
|
|
|
|
|
2,942,357
|
|
Copper-1.80%
|
|||
|
Freeport-McMoRan, Inc.
|
|
22,728
|
914,575
|
|
Diversified Chemicals-1.51%
|
|||
|
Chemours Co. (The)(c)
|
|
63,663
|
762,683
|
|
Diversified Metals & Mining-9.01%
|
|||
|
Compass Minerals International, Inc.(b)(c)
|
|
42,644
|
849,895
|
|
MP Materials Corp.(b)(c)
|
|
60,370
|
3,712,755
|
|
|
|
|
4,562,650
|
|
Fertilizers & Agricultural Chemicals-11.77%
|
|||
|
CF Industries Holdings, Inc.
|
|
15,994
|
1,484,723
|
|
Corteva, Inc.
|
|
21,971
|
1,584,768
|
|
FMC Corp.(c)
|
|
21,898
|
854,898
|
|
Mosaic Co. (The)
|
|
29,603
|
1,066,004
|
|
Scotts Miracle-Gro Co. (The)
|
|
15,551
|
974,426
|
|
|
|
|
5,964,819
|
|
Forest Products-2.13%
|
|||
|
Louisiana-Pacific Corp.
|
|
11,918
|
1,077,506
|
|
Gold-9.88%
|
|||
|
Coeur Mining, Inc.(b)(c)
|
|
201,870
|
1,754,250
|
|
Newmont Corp.
|
|
26,882
|
1,669,372
|
|
Royal Gold, Inc.
|
|
10,435
|
1,580,068
|
|
|
|
|
5,003,690
|
|
Industrial Gases-5.47%
|
|||
|
Air Products and Chemicals, Inc.
|
|
3,415
|
983,110
|
|
Linde PLC
|
|
3,890
|
1,790,412
|
|
|
|
|
2,773,522
|
|
Industrial Machinery & Supplies & Components-1.79%
|
|||
|
Worthington Enterprises, Inc.(c)
|
|
14,622
|
906,125
|
|
Metal, Glass & Plastic Containers-1.11%
|
|||
|
O-I Glass, Inc.(b)(c)
|
|
43,252
|
562,708
|
|
Paper & Plastic Packaging Products & Materials-5.92%
|
|||
|
Avery Dennison Corp.
|
|
11,665
|
1,957,037
|
|
International Paper Co.
|
|
22,349
|
1,044,592
|
|
|
|
|
3,001,629
|
|
Paper Products-1.20%
|
|||
|
Sylvamo Corp.(c)
|
|
13,154
|
606,005
|
|
|
Shares
|
Value
|
|
|
Silver-1.78%
|
|||
|
Hecla Mining Co.
|
|
157,390
|
$903,419
|
|
Specialty Chemicals-19.79%
|
|||
|
ASP Isotopes, Inc.(b)(c)
|
|
105,820
|
959,787
|
|
Balchem Corp.
|
|
5,979
|
911,618
|
|
Celanese Corp.(c)
|
|
17,464
|
912,145
|
|
Ecolab, Inc.
|
|
4,156
|
1,087,875
|
|
Element Solutions, Inc.(c)
|
|
35,614
|
840,490
|
|
Ingevity Corp.(b)(c)
|
|
14,528
|
607,125
|
|
International Flavors & Fragrances, Inc.
|
|
11,947
|
848,596
|
|
NewMarket Corp.
|
|
1,778
|
1,221,486
|
|
RPM International, Inc.
|
|
11,544
|
1,355,381
|
|
Sensient Technologies Corp.
|
|
11,427
|
1,283,138
|
|
|
|
|
10,027,641
|
|
Steel-15.19%
|
|||
|
ATI, Inc.(b)
|
|
21,182
|
1,629,743
|
|
Carpenter Technology Corp.
|
|
8,822
|
2,200,119
|
|
Cleveland-Cliffs, Inc.(b)(c)
|
|
123,525
|
1,299,483
|
|
Reliance, Inc.
|
|
5,681
|
1,648,228
|
|
Steel Dynamics, Inc.
|
|
7,189
|
917,029
|
|
|
|
|
7,694,602
|
|
Total Common Stocks & Other Equity Interests
(Cost $40,049,325)
|
50,640,896
|
||
|
Money Market Funds-0.29%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(d)(e)
(Cost $148,057)
|
|
148,057
|
148,057
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.24%
(Cost $40,197,382)
|
50,788,953
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-24.20%
|
|||
|
Invesco Private Government Fund,
4.32%(d)(e)(f)
|
|
3,404,909
|
3,404,909
|
|
Invesco Private Prime Fund, 4.46%(d)(e)(f)
|
|
8,853,159
|
8,854,930
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $12,259,839)
|
12,259,839
|
||
|
TOTAL INVESTMENTS IN SECURITIES-124.44%
(Cost $52,457,221)
|
63,048,792
|
||
|
OTHER ASSETS LESS LIABILITIES-(24.44)%
|
(12,381,832
)
|
||
|
NET ASSETS-100.00%
|
$50,666,960
|
||
|
Notes to Schedule of Investments:
|
|
|
(a)
|
Industry and/or sector classifications used in this report are generally according
to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
|
|
(b)
|
Non-income producing security.
|
|
(c)
|
All or a portion of this security was out on loan at July 31, 2025.
|
|
(d)
|
Affiliated holding. Affiliated holdings are investments in entities which are under
common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the three months ended July 31, 2025.
|
|
|
Value
April 30, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
|
Realized
Gain
(Loss)
|
Value
July 31, 2025
|
Dividend Income
|
|
Investments in Affiliated Money
Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government & Agency
Portfolio, Institutional Class
|
$130,424
|
$196,170
|
$(178,537
)
|
$-
|
$-
|
$148,057
|
$1,539
|
|
Investments Purchased with
Cash Collateral from Securities
on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund
|
2,023,918
|
10,130,739
|
(8,749,748
)
|
-
|
-
|
3,404,909
|
25,017
*
|
|
Invesco Private Prime Fund
|
5,262,219
|
23,172,703
|
(19,580,001
)
|
106
|
(97
)
|
8,854,930
|
67,453
*
|
|
Total
|
$7,416,561
|
$33,499,612
|
$(28,508,286
)
|
$106
|
$(97
)
|
$12,407,896
|
$94,009
|
|
*
|
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.
|
|
(e)
|
The rate shown is the 7-day SEC standardized yield as of July 31, 2025.
|
|
(f)
|
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.
|
|
|
Shares
|
Value
|
|
|
Common Stocks & Other Equity Interests-100.09%
|
|||
|
Apparel Retail-6.90%
|
|||
|
ThredUp, Inc., Class A(b)(c)
|
|
75,431
|
$623,060
|
|
TJX Cos., Inc. (The)
|
|
5,844
|
727,753
|
|
Urban Outfitters, Inc.(b)(c)
|
|
10,317
|
776,664
|
|
|
|
|
2,127,477
|
|
Apparel, Accessories & Luxury Goods-7.79%
|
|||
|
Ralph Lauren Corp.
|
|
3,601
|
1,075,799
|
|
Tapestry, Inc.
|
|
12,285
|
1,327,148
|
|
|
|
|
2,402,947
|
|
Automotive Parts & Equipment-1.64%
|
|||
|
Dana, Inc.
|
|
31,700
|
504,664
|
|
Automotive Retail-7.78%
|
|||
|
Carvana Co.(b)
|
|
4,471
|
1,744,450
|
|
Group 1 Automotive, Inc.(c)
|
|
1,591
|
655,731
|
|
|
|
|
2,400,181
|
|
Broadline Retail-8.68%
|
|||
|
Amazon.com, Inc.(b)
|
|
4,764
|
1,115,300
|
|
Groupon, Inc.(b)(c)
|
|
18,648
|
575,104
|
|
Ollie’s Bargain Outlet Holdings, Inc.(b)
|
|
7,232
|
988,108
|
|
|
|
|
2,678,512
|
|
Casinos & Gaming-2.38%
|
|||
|
Rush Street Interactive, Inc.(b)
|
|
36,343
|
732,675
|
|
Consumer Staples Merchandise Retail-2.59%
|
|||
|
Walmart, Inc.
|
|
8,143
|
797,851
|
|
Education Services-2.01%
|
|||
|
Duolingo, Inc.(b)
|
|
1,793
|
621,364
|
|
Health Care Distributors-6.77%
|
|||
|
Cardinal Health, Inc.
|
|
6,749
|
1,047,580
|
|
McKesson Corp.
|
|
1,502
|
1,041,697
|
|
|
|
|
2,089,277
|
|
Home Furnishings-3.71%
|
|||
|
Somnigroup International, Inc.(c)
|
|
15,819
|
1,144,979
|
|
Hotels, Resorts & Cruise Lines-12.26%
|
|||
|
Booking Holdings, Inc.
|
|
156
|
858,633
|
|
Hilton Worldwide Holdings, Inc.
|
|
3,143
|
842,575
|
|
Marriott International, Inc., Class A
|
|
2,873
|
757,984
|
|
Royal Caribbean Cruises Ltd.
|
|
4,164
|
1,323,611
|
|
|
|
|
3,782,803
|
|
Leisure Facilities-2.40%
|
|||
|
Planet Fitness, Inc., Class A(b)
|
|
6,788
|
741,182
|
|
Movies & Entertainment-9.22%
|
|||
|
Cinemark Holdings, Inc.
|
|
22,828
|
613,389
|
|
Liberty Media Corp.-Liberty Formula One(b)
|
|
8,298
|
832,704
|
|
|
Shares
|
Value
|
|
|
Movies & Entertainment-(continued)
|
|||
|
Liberty Media Corp.-Liberty Live(b)
|
|
5,309
|
$434,276
|
|
Netflix, Inc.(b)
|
|
832
|
964,621
|
|
|
|
|
2,844,990
|
|
Other Specialty Retail-8.27%
|
|||
|
Build-A-Bear Workshop, Inc.(c)
|
|
7,973
|
404,311
|
|
Chewy, Inc., Class A(b)
|
|
19,963
|
732,642
|
|
Five Below, Inc.(b)
|
|
5,827
|
795,502
|
|
National Vision Holdings, Inc.(b)
|
|
25,517
|
619,042
|
|
|
|
|
2,551,497
|
|
Restaurants-15.94%
|
|||
|
Brinker International, Inc.(b)
|
|
6,084
|
958,839
|
|
Darden Restaurants, Inc.
|
|
4,319
|
871,013
|
|
DoorDash, Inc., Class A(b)
|
|
4,749
|
1,188,437
|
|
Shake Shack, Inc., Class A(b)
|
|
6,250
|
752,125
|
|
Wingstop, Inc.(c)
|
|
3,042
|
1,147,868
|
|
|
|
|
4,918,282
|
|
Specialized Consumer Services-1.75%
|
|||
|
Frontdoor, Inc.(b)
|
|
9,204
|
538,434
|
|
Total Common Stocks & Other Equity Interests
(Cost $26,548,135)
|
30,877,115
|
||
|
Money Market Funds-0.29%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(d)(e)
(Cost $88,572)
|
|
88,572
|
88,572
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from
securities on loan)-100.38%
(Cost $26,636,707)
|
30,965,687
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-13.39%
|
|||
|
Invesco Private Government Fund,
4.32%(d)(e)(f)
|
|
1,149,080
|
1,149,080
|
|
Invesco Private Prime Fund, 4.46%(d)(e)(f)
|
|
2,982,713
|
2,983,310
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $4,132,390)
|
4,132,390
|
||
|
TOTAL INVESTMENTS IN SECURITIES-113.77%
(Cost $30,769,097)
|
35,098,077
|
||
|
OTHER ASSETS LESS LIABILITIES-(13.77)%
|
(4,248,691
)
|
||
|
NET ASSETS-100.00%
|
$30,849,386
|
||
|
Notes to Schedule of Investments:
|
|
|
(a)
|
Industry and/or sector classifications used in this report are generally according
to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
|
|
(b)
|
Non-income producing security.
|
|
(c)
|
All or a portion of this security was out on loan at July 31, 2025.
|
|
(d)
|
Affiliated holding. Affiliated holdings are investments in entities which are under
common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the three months ended July 31, 2025.
|
|
|
Value
April 30, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
|
Realized
Gain
(Loss)
|
Value
July 31, 2025
|
Dividend Income
|
|
Investments in Affiliated Money
Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government & Agency
Portfolio, Institutional Class
|
$136,511
|
$110,686
|
$(158,625
)
|
$-
|
$-
|
$88,572
|
$1,263
|
|
Investments Purchased with
Cash Collateral from Securities
on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund
|
4,487,712
|
4,891,126
|
(8,229,758
)
|
-
|
-
|
1,149,080
|
12,811
*
|
|
Invesco Private Prime Fund
|
7,998,580
|
10,433,989
|
(15,449,254
)
|
232
|
(237
)
|
2,983,310
|
36,017
*
|
|
Total
|
$12,622,803
|
$15,435,801
|
$(23,837,637
)
|
$232
|
$(237
)
|
$4,220,962
|
$50,091
|
|
*
|
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.
|
|
(e)
|
The rate shown is the 7-day SEC standardized yield as of July 31, 2025.
|
|
(f)
|
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.
|
|
|
Shares
|
Value
|
|
|
Common Stocks & Other Equity Interests-100.01%
|
|||
|
Agricultural Products & Services-5.68%
|
|||
|
Bunge Global S.A.
|
|
18,366
|
$1,464,872
|
|
Darling Ingredients, Inc.(b)
|
|
34,136
|
1,105,324
|
|
Fresh Del Monte Produce, Inc.
|
|
35,719
|
1,342,677
|
|
Ingredion, Inc.
|
|
12,782
|
1,681,344
|
|
|
|
|
5,594,217
|
|
Brewers-1.58%
|
|||
|
Molson Coors Beverage Co., Class B
|
|
32,067
|
1,562,304
|
|
Consumer Finance-1.37%
|
|||
|
EZCORP, Inc., Class A(b)(c)
|
|
94,142
|
1,348,113
|
|
Consumer Staples Merchandise Retail-6.96%
|
|||
|
BJ’s Wholesale Club Holdings, Inc.(b)
|
|
32,850
|
3,478,815
|
|
Costco Wholesale Corp.
|
|
3,595
|
3,378,006
|
|
|
|
|
6,856,821
|
|
Education Services-15.85%
|
|||
|
Adtalem Global Education, Inc.(b)(c)
|
|
21,321
|
2,436,351
|
|
Bright Horizons Family Solutions, Inc.(b)(c)
|
|
11,793
|
1,333,788
|
|
Grand Canyon Education, Inc.(b)
|
|
10,869
|
1,832,839
|
|
Laureate Education, Inc., Class A(b)
|
|
75,101
|
1,697,283
|
|
Perdoceo Education Corp.(c)
|
|
51,023
|
1,468,442
|
|
Strategic Education, Inc.
|
|
14,355
|
1,064,352
|
|
Stride, Inc.(b)(c)
|
|
25,880
|
3,318,592
|
|
Universal Technical Institute, Inc.(b)(c)
|
|
76,350
|
2,459,997
|
|
|
|
|
15,611,644
|
|
Food Distributors-7.75%
|
|||
|
Chefs’ Warehouse, Inc. (The)(b)
|
|
36,504
|
2,502,714
|
|
Performance Food Group Co.(b)(c)
|
|
16,901
|
1,696,861
|
|
US Foods Holding Corp.(b)
|
|
41,210
|
3,434,029
|
|
|
|
|
7,633,604
|
|
Food Retail-10.61%
|
|||
|
Casey’s General Stores, Inc.
|
|
7,659
|
3,983,676
|
|
Kroger Co. (The)
|
|
46,907
|
3,288,181
|
|
Sprouts Farmers Market, Inc.(b)
|
|
20,962
|
3,176,581
|
|
|
|
|
10,448,438
|
|
Household Products-6.35%
|
|||
|
Church & Dwight Co., Inc.
|
|
38,012
|
3,564,385
|
|
Procter & Gamble Co. (The)
|
|
17,908
|
2,694,617
|
|
|
|
|
6,259,002
|
|
Packaged Foods & Meats-9.03%
|
|||
|
Cal-Maine Foods, Inc.
|
|
23,769
|
2,641,687
|
|
Freshpet, Inc.(b)(c)
|
|
19,179
|
1,310,309
|
|
Marzetti Co. (The)
|
|
7,785
|
1,383,862
|
|
Post Holdings, Inc.(b)
|
|
15,146
|
1,602,598
|
|
Vital Farms, Inc.(b)(c)
|
|
52,549
|
1,954,823
|
|
|
|
|
8,893,279
|
|
Personal Care Products-8.19%
|
|||
|
BellRing Brands, Inc.(b)
|
|
25,698
|
1,402,597
|
|
e.l.f. Beauty, Inc.(b)(c)
|
|
17,022
|
2,062,896
|
|
|
Shares
|
Value
|
|
|
Personal Care Products-(continued)
|
|||
|
Estee Lauder Cos., Inc. (The), Class A
|
|
21,962
|
$2,049,933
|
|
Herbalife Ltd.(b)(c)
|
|
150,161
|
1,381,481
|
|
Interparfums, Inc.(c)
|
|
9,733
|
1,173,800
|
|
|
|
|
8,070,707
|
|
Soft Drinks & Non-alcoholic Beverages-12.93%
|
|||
|
Celsius Holdings, Inc.(b)
|
|
63,528
|
2,880,360
|
|
Coca-Cola Co. (The)
|
|
22,457
|
1,524,606
|
|
Coca-Cola Consolidated, Inc.
|
|
17,477
|
1,953,055
|
|
Keurig Dr Pepper, Inc.
|
|
86,405
|
2,821,123
|
|
Monster Beverage Corp.(b)
|
|
60,595
|
3,559,956
|
|
|
|
|
12,739,100
|
|
Specialized Consumer Services-5.16%
|
|||
|
H&R Block, Inc.
|
|
44,717
|
2,429,922
|
|
Service Corp. International(c)
|
|
34,724
|
2,649,788
|
|
|
|
|
5,079,710
|
|
Tobacco-8.55%
|
|||
|
Altria Group, Inc.
|
|
41,702
|
2,583,022
|
|
Philip Morris International, Inc.
|
|
17,039
|
2,795,248
|
|
Turning Point Brands, Inc.(c)
|
|
21,893
|
1,815,805
|
|
Universal Corp.(c)
|
|
22,551
|
1,228,353
|
|
|
|
|
8,422,428
|
|
Total Common Stocks & Other Equity Interests
(Cost $82,369,728)
|
98,519,367
|
||
|
Money Market Funds-0.14%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(d)(e)
(Cost $138,045)
|
|
138,045
|
138,045
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.15%
(Cost $82,507,773)
|
98,657,412
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-9.13%
|
|||
|
Invesco Private Government Fund,
4.32%(d)(e)(f)
|
|
2,496,674
|
2,496,674
|
|
Invesco Private Prime Fund, 4.46%(d)(e)(f)
|
|
6,495,539
|
6,496,838
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $8,993,512)
|
8,993,512
|
||
|
TOTAL INVESTMENTS IN SECURITIES-109.28%
(Cost $91,501,285)
|
107,650,924
|
||
|
OTHER ASSETS LESS LIABILITIES-(9.28)%
|
(9,139,515
)
|
||
|
NET ASSETS-100.00%
|
$98,511,409
|
||
|
Notes to Schedule of Investments:
|
|
|
(a)
|
Industry and/or sector classifications used in this report are generally according
to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
|
|
(b)
|
Non-income producing security.
|
|
(c)
|
All or a portion of this security was out on loan at July 31, 2025.
|
|
(d)
|
Affiliated holding. Affiliated holdings are investments in entities which are under
common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the three months ended July 31, 2025.
|
|
|
Value
April 30, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
|
Realized
Gain
(Loss)
|
Value
July 31, 2025
|
Dividend Income
|
|
Investments in Affiliated Money
Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government & Agency
Portfolio, Institutional Class
|
$208,916
|
$522,009
|
$(592,880
)
|
$-
|
$-
|
$138,045
|
$1,600
|
|
Investments Purchased with
Cash Collateral from Securities
on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund
|
4,827,252
|
14,973,073
|
(17,303,651
)
|
-
|
-
|
2,496,674
|
38,721
*
|
|
Invesco Private Prime Fund
|
12,565,489
|
29,945,811
|
(36,014,710
)
|
295
|
(47
)
|
6,496,838
|
104,170
*
|
|
Total
|
$17,601,657
|
$45,440,893
|
$(53,911,241
)
|
$295
|
$(47
)
|
$9,131,557
|
$144,491
|
|
*
|
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.
|
|
(e)
|
The rate shown is the 7-day SEC standardized yield as of July 31, 2025.
|
|
(f)
|
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.
|
|
|
Shares
|
Value
|
|
|
Common Stocks & Other Equity Interests-99.87%
|
|||
|
Coal & Consumable Fuels-7.06%
|
|||
|
Centrus Energy Corp., Class A(b)(c)
|
|
12,167
|
$2,620,772
|
|
Hallador Energy Co.(b)(c)
|
|
30,050
|
530,082
|
|
|
|
|
3,150,854
|
|
Integrated Oil & Gas-7.64%
|
|||
|
Chevron Corp.
|
|
7,410
|
1,123,652
|
|
Exxon Mobil Corp.
|
|
12,717
|
1,419,726
|
|
Occidental Petroleum Corp.
|
|
19,620
|
862,103
|
|
|
|
|
3,405,481
|
|
Oil & Gas Drilling-1.35%
|
|||
|
Valaris Ltd.(b)(c)
|
|
12,386
|
602,331
|
|
Oil & Gas Equipment & Services-10.72%
|
|||
|
Archrock, Inc.
|
|
38,637
|
902,560
|
|
Baker Hughes Co., Class A
|
|
23,382
|
1,053,359
|
|
Helix Energy Solutions Group, Inc.(b)(c)
|
|
71,261
|
422,578
|
|
Kodiak Gas Services, Inc.
|
|
21,202
|
685,461
|
|
Select Water Solutions, Inc., Class A
|
|
48,035
|
462,577
|
|
Weatherford International PLC
|
|
22,176
|
1,254,053
|
|
|
|
|
4,780,588
|
|
Oil & Gas Exploration & Production-32.63%
|
|||
|
Antero Resources Corp.(b)
|
|
40,354
|
1,409,565
|
|
CNX Resources Corp.(b)
|
|
29,551
|
895,691
|
|
Comstock Resources, Inc.(b)(c)
|
|
38,316
|
684,707
|
|
ConocoPhillips
|
|
12,633
|
1,204,430
|
|
Devon Energy Corp.
|
|
30,229
|
1,004,208
|
|
Diamondback Energy, Inc.
|
|
8,877
|
1,319,655
|
|
EOG Resources, Inc.
|
|
10,764
|
1,291,895
|
|
Expand Energy Corp.
|
|
13,236
|
1,386,868
|
|
Gulfport Energy Corp.(b)
|
|
5,332
|
928,461
|
|
Magnolia Oil & Gas Corp., Class A
|
|
29,394
|
700,165
|
|
Permian Resources Corp.
|
|
75,877
|
1,074,418
|
|
Range Resources Corp.
|
|
38,384
|
1,409,461
|
|
Viper Energy, Inc.
|
|
19,523
|
735,236
|
|
Vital Energy, Inc.(b)(c)
|
|
27,351
|
511,190
|
|
|
|
|
14,555,950
|
|
Oil & Gas Refining & Marketing-17.16%
|
|||
|
Calumet, Inc.(b)(c)
|
|
27,856
|
444,025
|
|
CVR Energy, Inc.(c)
|
|
23,081
|
618,109
|
|
Delek US Holdings, Inc.
|
|
28,256
|
632,087
|
|
Green Plains, Inc.(b)(c)
|
|
79,683
|
658,978
|
|
HF Sinclair Corp.
|
|
20,322
|
892,949
|
|
|
Shares
|
Value
|
|
|
Oil & Gas Refining & Marketing-(continued)
|
|||
|
Marathon Petroleum Corp.
|
|
12,916
|
$2,198,174
|
|
Par Pacific Holdings, Inc.(b)
|
|
25,853
|
811,267
|
|
PBF Energy, Inc., Class A
|
|
24,841
|
561,406
|
|
Valero Energy Corp.
|
|
6,080
|
834,845
|
|
|
|
|
7,651,840
|
|
Oil & Gas Storage & Transportation-23.31%
|
|||
|
Antero Midstream Corp.
|
|
56,850
|
1,043,198
|
|
Cheniere Energy, Inc.
|
|
6,639
|
1,566,007
|
|
DT Midstream, Inc.
|
|
15,479
|
1,590,158
|
|
Kinder Morgan, Inc.
|
|
59,534
|
1,670,524
|
|
Kinetik Holdings, Inc., Class A
|
|
14,569
|
632,003
|
|
Targa Resources Corp.
|
|
13,569
|
2,258,017
|
|
Williams Cos., Inc. (The)
|
|
27,331
|
1,638,494
|
|
|
|
|
10,398,401
|
|
Total Common Stocks & Other Equity Interests
(Cost $41,126,836)
|
44,545,445
|
||
|
Money Market Funds-0.33%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(d)(e)
(Cost $145,408)
|
|
145,408
|
145,408
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from
securities on loan)-100.20%
(Cost $41,272,244)
|
44,690,853
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-8.66%
|
|||
|
Invesco Private Government Fund,
4.32%(d)(e)(f)
|
|
1,044,396
|
1,044,396
|
|
Invesco Private Prime Fund, 4.46%(d)(e)(f)
|
|
2,819,153
|
2,819,717
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $3,864,113)
|
3,864,113
|
||
|
TOTAL INVESTMENTS IN SECURITIES-108.86%
(Cost $45,136,357)
|
48,554,966
|
||
|
OTHER ASSETS LESS LIABILITIES-(8.86)%
|
(3,951,139
)
|
||
|
NET ASSETS-100.00%
|
$44,603,827
|
||
|
Notes to Schedule of Investments:
|
|
|
(a)
|
Industry and/or sector classifications used in this report are generally according
to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
|
|
(b)
|
Non-income producing security.
|
|
(c)
|
All or a portion of this security was out on loan at July 31, 2025.
|
|
(d)
|
Affiliated holding. Affiliated holdings are investments in entities which are under
common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the three months ended July 31, 2025.
|
|
|
Value
April 30, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
|
Realized
Gain
|
Value
July 31, 2025
|
Dividend Income
|
|
Investments in Affiliated Money
Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government & Agency
Portfolio, Institutional Class
|
$156,950
|
$399,525
|
$(411,067
)
|
$-
|
$-
|
$145,408
|
$1,455
|
|
|
Value
April 30, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
|
Realized
Gain
|
Value
July 31, 2025
|
Dividend Income
|
|
Investments Purchased with
Cash Collateral from Securities
on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund
|
$2,734,661
|
$10,128,579
|
$(11,818,844
)
|
$-
|
$-
|
$1,044,396
|
$26,500
*
|
|
Invesco Private Prime Fund
|
7,109,338
|
20,814,696
|
(25,104,359
)
|
-
|
42
|
2,819,717
|
71,937
*
|
|
Total
|
$10,000,949
|
$31,342,800
|
$(37,334,270
)
|
$-
|
$42
|
$4,009,521
|
$99,892
|
|
*
|
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.
|
|
(e)
|
The rate shown is the 7-day SEC standardized yield as of July 31, 2025.
|
|
(f)
|
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.
|
|
|
Shares
|
Value
|
|
|
Common Stocks & Other Equity Interests-100.02%
|
|||
|
Asset Management & Custody Banks-9.45%
|
|||
|
Ameriprise Financial, Inc.
|
|
4,189
|
$2,170,698
|
|
Ares Management Corp., Class A(b)
|
|
12,960
|
2,404,469
|
|
Victory Capital Holdings, Inc., Class A(b)
|
|
17,933
|
1,235,763
|
|
|
|
|
5,810,930
|
|
Commercial & Residential Mortgage Finance-1.75%
|
|||
|
MGIC Investment Corp.
|
|
41,468
|
1,074,021
|
|
Construction Machinery & Heavy Transportation Equipment-1.55%
|
|||
|
Microvast Holdings, Inc.(b)(c)
|
|
300,286
|
951,907
|
|
Consumer Finance-10.17%
|
|||
|
American Express Co.
|
|
5,617
|
1,681,224
|
|
Capital One Financial Corp.
|
|
6,807
|
1,463,505
|
|
SLM Corp.
|
|
33,191
|
1,055,474
|
|
SoFi Technologies, Inc.(b)(c)
|
|
90,883
|
2,052,138
|
|
|
|
|
6,252,341
|
|
Diversified Banks-3.63%
|
|||
|
JPMorgan Chase & Co.
|
|
7,542
|
2,234,242
|
|
Diversified Financial Services-2.18%
|
|||
|
Equitable Holdings, Inc.
|
|
26,164
|
1,343,521
|
|
Financial Exchanges & Data-2.30%
|
|||
|
Intercontinental Exchange, Inc.
|
|
7,669
|
1,417,461
|
|
Health Care REITs-2.28%
|
|||
|
Welltower, Inc.
|
|
8,502
|
1,403,425
|
|
Insurance Brokers-2.82%
|
|||
|
Arthur J. Gallagher & Co.
|
|
6,028
|
1,731,543
|
|
Investment Banking & Brokerage-22.64%
|
|||
|
Evercore, Inc., Class A
|
|
6,341
|
1,909,529
|
|
Goldman Sachs Group, Inc. (The)
|
|
2,091
|
1,513,027
|
|
Houlihan Lokey, Inc.
|
|
7,327
|
1,396,966
|
|
Interactive Brokers Group, Inc., Class A
|
|
29,272
|
1,919,072
|
|
PJT Partners, Inc., Class A(b)
|
|
6,928
|
1,237,479
|
|
Raymond James Financial, Inc.
|
|
10,495
|
1,754,029
|
|
Robinhood Markets, Inc., Class A(c)
|
|
27,904
|
2,875,507
|
|
StoneX Group, Inc.(b)(c)
|
|
13,535
|
1,316,144
|
|
|
|
|
13,921,753
|
|
Life & Health Insurance-2.55%
|
|||
|
Unum Group
|
|
21,816
|
1,566,607
|
|
Multi-line Insurance-1.97%
|
|||
|
American International Group, Inc.
|
|
15,577
|
1,209,242
|
|
Property & Casualty Insurance-15.89%
|
|||
|
AXIS Capital Holdings Ltd.
|
|
10,278
|
964,488
|
|
HCI Group, Inc.
|
|
6,767
|
947,651
|
|
Lemonade, Inc.(b)(c)
|
|
29,308
|
1,104,325
|
|
Palomar Holdings, Inc.(b)(c)
|
|
7,210
|
955,253
|
|
Progressive Corp. (The)
|
|
10,527
|
2,547,955
|
|
|
Shares
|
Value
|
|
|
Property & Casualty Insurance-(continued)
|
|||
|
Skyward Specialty Insurance Group, Inc.(c)
|
|
16,173
|
$818,030
|
|
Trupanion, Inc.(b)(c)
|
|
20,680
|
980,439
|
|
W.R. Berkley Corp.
|
|
21,117
|
1,453,061
|
|
|
|
|
9,771,202
|
|
Real Estate Services-2.52%
|
|||
|
CBRE Group, Inc., Class A(c)
|
|
9,961
|
1,551,326
|
|
Regional Banks-1.56%
|
|||
|
Pathward Financial, Inc.(b)
|
|
12,727
|
962,479
|
|
Reinsurance-1.65%
|
|||
|
SiriusPoint Ltd. (Sweden)(c)
|
|
51,641
|
1,012,680
|
|
Retail REITs-2.16%
|
|||
|
Simon Property Group, Inc.
|
|
8,126
|
1,330,958
|
|
Transaction & Payment Processing Services-12.95%
|
|||
|
Mastercard, Inc., Class A
|
|
5,108
|
2,893,529
|
|
Paymentus Holdings, Inc., Class A(b)(c)
|
|
30,165
|
841,000
|
|
Sezzle, Inc.(b)(c)
|
|
14,017
|
2,170,392
|
|
Visa, Inc., Class A
|
|
5,969
|
2,062,111
|
|
|
|
|
7,967,032
|
|
Total Common Stocks & Other Equity Interests
(Cost $57,051,514)
|
61,512,670
|
||
|
Money Market Funds-0.17%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(d)(e)
(Cost $105,387)
|
|
105,387
|
105,387
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.19%
(Cost $57,156,901)
|
61,618,057
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-22.67%
|
|||
|
Invesco Private Government Fund,
4.32%(d)(e)(f)
|
|
3,879,668
|
3,879,668
|
|
Invesco Private Prime Fund, 4.46%(d)(e)(f)
|
|
10,058,852
|
10,060,864
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $13,940,532)
|
13,940,532
|
||
|
TOTAL INVESTMENTS IN SECURITIES-122.86%
(Cost $71,097,433)
|
75,558,589
|
||
|
OTHER ASSETS LESS LIABILITIES-(22.86)%
|
(14,057,458
)
|
||
|
NET ASSETS-100.00%
|
$61,501,131
|
||
|
Investment Abbreviations:
|
|
|
REIT
|
-Real Estate Investment Trust
|
|
Notes to Schedule of Investments:
|
|
|
(a)
|
Industry and/or sector classifications used in this report are generally according
to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
|
|
(b)
|
All or a portion of this security was out on loan at July 31, 2025.
|
|
(c)
|
Non-income producing security.
|
|
(d)
|
Affiliated holding. Affiliated holdings are investments in entities which are under
common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the three months ended July 31, 2025.
|
|
|
Value
April 30, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
|
Realized
Gain
(Loss)
|
Value
July 31, 2025
|
Dividend Income
|
|
Investments in Affiliated Money
Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government & Agency
Portfolio, Institutional Class
|
$111,055
|
$314,285
|
$(319,953
)
|
$-
|
$-
|
$105,387
|
$1,457
|
|
Investments Purchased with
Cash Collateral from Securities
on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund
|
1,434,044
|
11,548,379
|
(9,102,755
)
|
-
|
-
|
3,879,668
|
18,879
*
|
|
Invesco Private Prime Fund
|
3,740,392
|
25,529,397
|
(19,208,878
)
|
90
|
(137
)
|
10,060,864
|
51,274
*
|
|
Total
|
$5,285,491
|
$37,392,061
|
$(28,631,586
)
|
$90
|
$(137
)
|
$14,045,919
|
$71,610
|
|
*
|
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.
|
|
(e)
|
The rate shown is the 7-day SEC standardized yield as of July 31, 2025.
|
|
(f)
|
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.
|
|
|
Shares
|
Value
|
|
|
Common Stocks & Other Equity Interests-100.02%
|
|||
|
Biotechnology-40.49%
|
|||
|
Acadia Pharmaceuticals, Inc.(b)
|
|
69,620
|
$1,659,045
|
|
Akero Therapeutics, Inc.(b)(c)
|
|
53,147
|
2,596,231
|
|
AnaptysBio, Inc.(b)(c)
|
|
50,407
|
1,237,492
|
|
ARS Pharmaceuticals, Inc.(b)(c)
|
|
71,577
|
1,265,481
|
|
BioCryst Pharmaceuticals, Inc.(b)
|
|
193,339
|
1,573,779
|
|
CareDx, Inc.(b)
|
|
69,377
|
852,296
|
|
Catalyst Pharmaceuticals, Inc.(b)
|
|
71,815
|
1,531,814
|
|
Exelixis, Inc.(b)
|
|
80,149
|
2,902,997
|
|
GRAIL, Inc.(b)
|
|
62,393
|
2,134,465
|
|
Insmed, Inc.(b)
|
|
51,017
|
5,473,104
|
|
Merus N.V. (Netherlands)(b)
|
|
27,223
|
1,803,252
|
|
Mirum Pharmaceuticals, Inc.(b)
|
|
24,401
|
1,261,044
|
|
Protagonist Therapeutics, Inc.(b)
|
|
46,027
|
2,479,014
|
|
PTC Therapeutics, Inc.(b)
|
|
26,826
|
1,397,903
|
|
Revolution Medicines, Inc.(b)(c)
|
|
43,098
|
1,606,262
|
|
Rhythm Pharmaceuticals, Inc.(b)
|
|
25,497
|
2,173,109
|
|
Soleno Therapeutics, Inc.(b)
|
|
44,288
|
3,829,583
|
|
uniQure N.V. (Netherlands)(b)
|
|
103,888
|
1,446,121
|
|
|
|
|
37,222,992
|
|
Health Care Distributors-3.72%
|
|||
|
Cencora, Inc.
|
|
11,965
|
3,422,947
|
|
Health Care Equipment-19.61%
|
|||
|
Artivion, Inc.(b)
|
|
46,578
|
1,439,726
|
|
Boston Scientific Corp.(b)
|
|
48,058
|
5,042,245
|
|
Insulet Corp.(b)
|
|
9,702
|
2,798,057
|
|
Intuitive Surgical, Inc.(b)
|
|
6,452
|
3,103,992
|
|
ResMed, Inc.
|
|
10,155
|
2,761,551
|
|
TransMedics Group, Inc.(b)(c)
|
|
24,244
|
2,884,309
|
|
|
|
|
18,029,880
|
|
Health Care Facilities-6.59%
|
|||
|
Encompass Health Corp.
|
|
16,444
|
1,810,649
|
|
Tenet Healthcare Corp.(b)
|
|
26,332
|
4,246,825
|
|
|
|
|
6,057,474
|
|
Health Care Services-13.34%
|
|||
|
BrightSpring Health Services, Inc.(b)
|
|
98,784
|
2,039,889
|
|
Guardant Health, Inc.(b)
|
|
45,246
|
1,854,181
|
|
Hims & Hers Health, Inc.(b)(c)
|
|
90,387
|
5,981,812
|
|
RadNet, Inc.(b)
|
|
43,638
|
2,388,308
|
|
|
|
|
12,264,190
|
|
|
Shares
|
Value
|
|
|
Health Care Technology-1.31%
|
|||
|
LifeMD, Inc.(b)(c)
|
|
115,861
|
$1,206,113
|
|
Life Sciences Tools & Services-1.28%
|
|||
|
Niagen Bioscience, Inc.(b)(c)
|
|
126,059
|
1,178,652
|
|
Managed Health Care-2.74%
|
|||
|
HealthEquity, Inc.(b)
|
|
25,939
|
2,516,083
|
|
Pharmaceuticals-10.94%
|
|||
|
CorMedix, Inc.(b)(c)
|
|
140,176
|
1,635,854
|
|
Harrow, Inc.(b)(c)
|
|
50,758
|
1,612,074
|
|
Ocular Therapeutix, Inc.(b)(c)
|
|
197,752
|
2,289,968
|
|
Phathom Pharmaceuticals, Inc.(b)(c)
|
|
288,736
|
2,465,805
|
|
Trevi Therapeutics, Inc.(b)(c)
|
|
276,826
|
2,049,897
|
|
|
|
|
10,053,598
|
|
Total Common Stocks & Other Equity Interests
(Cost $90,330,857)
|
91,951,929
|
||
|
Money Market Funds-0.18%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(d)(e)
(Cost $162,798)
|
|
162,798
|
162,798
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.20%
(Cost $90,493,655)
|
92,114,727
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-21.24%
|
|||
|
Invesco Private Government Fund,
4.32%(d)(e)(f)
|
|
5,445,446
|
5,445,446
|
|
Invesco Private Prime Fund, 4.46%(d)(e)(f)
|
|
14,073,897
|
14,076,712
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $19,522,158)
|
19,522,158
|
||
|
TOTAL INVESTMENTS IN SECURITIES-121.44%
(Cost $110,015,813)
|
111,636,885
|
||
|
OTHER ASSETS LESS LIABILITIES-(21.44)%
|
(19,705,792
)
|
||
|
NET ASSETS-100.00%
|
$91,931,093
|
||
|
Notes to Schedule of Investments:
|
|
|
(a)
|
Industry and/or sector classifications used in this report are generally according
to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
|
|
(b)
|
Non-income producing security.
|
|
(c)
|
All or a portion of this security was out on loan at July 31, 2025.
|
|
(d)
|
Affiliated holding. Affiliated holdings are investments in entities which are under
common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the three months ended July 31, 2025.
|
|
|
Value
April 30, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
|
Realized
Gain
(Loss)
|
Value
July 31, 2025
|
Dividend Income
|
|
Investments in Affiliated Money
Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government & Agency
Portfolio, Institutional Class
|
$249,261
|
$225,760
|
$(312,223
)
|
$-
|
$-
|
$162,798
|
$2,303
|
|
|
Value
April 30, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
|
Realized
Gain
(Loss)
|
Value
July 31, 2025
|
Dividend Income
|
|
Investments Purchased with
Cash Collateral from Securities
on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund
|
$9,815,269
|
$14,378,578
|
$(18,748,401
)
|
$-
|
$-
|
$5,445,446
|
$81,265
*
|
|
Invesco Private Prime Fund
|
25,531,198
|
30,546,208
|
(42,000,584
)
|
1,780
|
(1,890
)
|
14,076,712
|
220,089
*
|
|
Total
|
$35,595,728
|
$45,150,546
|
$(61,061,208
)
|
$1,780
|
$(1,890
)
|
$19,684,956
|
$303,657
|
|
*
|
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.
|
|
(e)
|
The rate shown is the 7-day SEC standardized yield as of July 31, 2025.
|
|
(f)
|
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.
|
|
|
Shares
|
Value
|
|
|
Common Stocks & Other Equity Interests-100.03%
|
|||
|
Aerospace & Defense-31.72%
|
|||
|
Axon Enterprise, Inc.(b)
|
|
14,778
|
$11,164,631
|
|
BWX Technologies, Inc.
|
|
44,112
|
6,701,936
|
|
Byrna Technologies, Inc.(b)(c)
|
|
165,102
|
3,666,916
|
|
Curtiss-Wright Corp.
|
|
14,920
|
7,314,082
|
|
General Electric Co.
|
|
32,389
|
8,780,010
|
|
HEICO Corp.
|
|
52,904
|
17,289,027
|
|
Howmet Aerospace, Inc.
|
|
73,937
|
13,291,655
|
|
Kratos Defense & Security Solutions, Inc.(b)(c)
|
|
177,106
|
10,396,122
|
|
Leonardo DRS, Inc.(c)
|
|
123,209
|
5,125,494
|
|
Rocket Lab Corp.(b)(c)
|
|
463,688
|
21,292,553
|
|
TransDigm Group, Inc.
|
|
5,986
|
9,628,242
|
|
|
|
|
114,650,668
|
|
Building Products-5.99%
|
|||
|
Tecnoglass, Inc.(c)
|
|
106,536
|
8,313,004
|
|
Trane Technologies PLC
|
|
30,471
|
13,348,736
|
|
|
|
|
21,661,740
|
|
Cargo Ground Transportation-1.56%
|
|||
|
Ryder System, Inc.
|
|
31,679
|
5,629,675
|
|
Construction & Engineering-22.36%
|
|||
|
API Group Corp.(b)(c)
|
|
166,742
|
6,014,384
|
|
Argan, Inc.
|
|
28,732
|
7,038,765
|
|
Comfort Systems USA, Inc.
|
|
30,052
|
21,135,572
|
|
Construction Partners, Inc., Class A(b)(c)
|
|
48,895
|
4,931,061
|
|
Dycom Industries, Inc.(b)(c)
|
|
19,367
|
5,206,043
|
|
Limbach Holdings, Inc.(b)(c)
|
|
59,996
|
8,219,452
|
|
Primoris Services Corp.
|
|
65,410
|
6,159,660
|
|
Quanta Services, Inc.
|
|
34,876
|
14,164,190
|
|
Tutor Perini Corp.(b)
|
|
164,947
|
7,942,198
|
|
|
|
|
80,811,325
|
|
Construction Machinery & Heavy Transportation Equipment-1.66%
|
|||
|
REV Group, Inc.(c)
|
|
121,383
|
6,014,528
|
|
Data Processing & Outsourced Services-1.26%
|
|||
|
ExlService Holdings, Inc.(b)
|
|
105,060
|
4,562,756
|
|
Diversified Support Services-5.88%
|
|||
|
Cintas Corp.
|
|
67,039
|
14,919,529
|
|
VSE Corp.
|
|
40,509
|
6,341,279
|
|
|
|
|
21,260,808
|
|
Electronic Equipment & Instruments-1.19%
|
|||
|
Badger Meter, Inc.
|
|
22,737
|
4,291,836
|
|
Electronic Manufacturing Services-2.87%
|
|||
|
Jabil, Inc.
|
|
46,484
|
10,373,834
|
|
Environmental & Facilities Services-7.85%
|
|||
|
Republic Services, Inc.
|
|
28,095
|
6,480,112
|
|
Rollins, Inc.
|
|
275,662
|
15,787,163
|
|
Waste Management, Inc.
|
|
26,621
|
6,100,468
|
|
|
|
|
28,367,743
|
|
|
Shares
|
Value
|
|
|
Heavy Electrical Equipment-2.35%
|
|||
|
NuScale Power Corp.(b)(c)
|
|
169,092
|
$8,490,109
|
|
Human Resource & Employment Services-1.90%
|
|||
|
Automatic Data Processing, Inc.
|
|
22,166
|
6,860,377
|
|
Industrial Machinery & Supplies & Components-5.16%
|
|||
|
ITT, Inc.
|
|
29,226
|
4,967,251
|
|
Parker-Hannifin Corp.
|
|
18,702
|
13,687,994
|
|
|
|
|
18,655,245
|
|
Life Sciences Tools & Services-1.11%
|
|||
|
Adaptive Biotechnologies Corp.(b)(c)
|
|
393,593
|
4,030,392
|
|
Research & Consulting Services-1.00%
|
|||
|
CRA International, Inc.
|
|
20,391
|
3,602,274
|
|
Trading Companies & Distributors-6.17%
|
|||
|
Applied Industrial Technologies, Inc.
|
|
20,815
|
5,651,273
|
|
W.W. Grainger, Inc.
|
|
12,560
|
13,056,622
|
|
Xometry, Inc., Class A(b)(c)
|
|
111,460
|
3,604,616
|
|
|
|
|
22,312,511
|
|
Total Common Stocks & Other Equity Interests
(Cost $301,896,726)
|
361,575,821
|
||
|
Money Market Funds-0.08%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(d)(e)
(Cost $299,681)
|
|
299,681
|
299,681
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.11%
(Cost $302,196,407)
|
361,875,502
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-17.55%
|
|||
|
Invesco Private Government Fund,
4.32%(d)(e)(f)
|
|
17,612,340
|
17,612,340
|
|
Invesco Private Prime Fund, 4.46%(d)(e)(f)
|
|
45,797,764
|
45,806,924
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $63,419,264)
|
63,419,264
|
||
|
TOTAL INVESTMENTS IN SECURITIES-117.66%
(Cost $365,615,671)
|
425,294,766
|
||
|
OTHER ASSETS LESS LIABILITIES-(17.66)%
|
(63,827,125
)
|
||
|
NET ASSETS-100.00%
|
$361,467,641
|
||
|
Notes to Schedule of Investments:
|
|
|
(a)
|
Industry and/or sector classifications used in this report are generally according
to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
|
|
(b)
|
Non-income producing security.
|
|
(c)
|
All or a portion of this security was out on loan at July 31, 2025.
|
|
(d)
|
Affiliated holding. Affiliated holdings are investments in entities which are under
common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the three months ended July 31, 2025.
|
|
|
Value
April 30, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
|
Realized
Gain
(Loss)
|
Value
July 31, 2025
|
Dividend Income
|
|
Investments in Affiliated
Money Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government & Agency
Portfolio, Institutional Class
|
$576,679
|
$801,334
|
$(1,078,332
)
|
$-
|
$-
|
$299,681
|
$5,606
|
|
Investments Purchased with
Cash Collateral from
Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government
Fund
|
19,440,781
|
51,329,551
|
(53,157,992
)
|
-
|
-
|
17,612,340
|
128,640
*
|
|
Invesco Private Prime Fund
|
50,461,913
|
114,770,962
|
(119,426,176
)
|
855
|
(630
)
|
45,806,924
|
348,724
*
|
|
Total
|
$70,479,373
|
$166,901,847
|
$(173,662,500
)
|
$855
|
$(630
)
|
$63,718,945
|
$482,970
|
|
*
|
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.
|
|
(e)
|
The rate shown is the 7-day SEC standardized yield as of July 31, 2025.
|
|
(f)
|
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.
|
|
|
Shares
|
Value
|
|
|
Common Stocks & Other Equity Interests-99.95%
|
|||
|
Alternative Carriers-3.22%
|
|||
|
AST SpaceMobile, Inc.(b)(c)
|
|
231,084
|
$12,286,736
|
|
Application Software-28.31%
|
|||
|
AvePoint, Inc.(b)
|
|
256,079
|
4,885,987
|
|
Cadence Design Systems, Inc.(b)
|
|
57,928
|
21,118,811
|
|
Digital Turbine, Inc.(b)(c)
|
|
597,045
|
3,253,895
|
|
Guidewire Software, Inc.(b)
|
|
42,831
|
9,689,229
|
|
InterDigital, Inc.(c)
|
|
31,139
|
8,040,090
|
|
Life360, Inc.(b)(c)
|
|
94,791
|
7,260,043
|
|
Nutanix, Inc., Class A(b)
|
|
156,918
|
11,795,526
|
|
Olo, Inc., Class A(b)
|
|
478,343
|
5,013,035
|
|
Palantir Technologies, Inc., Class A(b)
|
|
137,754
|
21,813,346
|
|
Pegasystems, Inc.
|
|
104,453
|
6,132,435
|
|
Quantum Computing, Inc.(b)(c)
|
|
601,426
|
8,925,162
|
|
|
|
|
107,927,559
|
|
Communications Equipment-3.65%
|
|||
|
Lumentum Holdings, Inc.(b)
|
|
94,647
|
10,418,742
|
|
NETGEAR, Inc.(b)(c)
|
|
150,783
|
3,505,705
|
|
|
|
|
13,924,447
|
|
Consumer Finance-2.57%
|
|||
|
Dave, Inc.(b)(c)
|
|
41,593
|
9,807,629
|
|
Electronic Components-2.48%
|
|||
|
Amphenol Corp., Class A
|
|
88,605
|
9,437,319
|
|
Electronic Equipment & Instruments-5.53%
|
|||
|
Aeva Technologies, Inc.(b)(c)
|
|
317,553
|
5,919,188
|
|
Mirion Technologies, Inc.(b)(c)
|
|
283,290
|
6,331,531
|
|
Ouster, Inc.(b)
|
|
378,305
|
8,844,771
|
|
|
|
|
21,095,490
|
|
Interactive Home Entertainment-4.14%
|
|||
|
Roblox Corp., Class A(b)
|
|
114,493
|
15,775,990
|
|
Internet Services & Infrastructure-3.36%
|
|||
|
Cloudflare, Inc., Class A(b)
|
|
61,630
|
12,799,318
|
|
IT Consulting & Other Services-1.82%
|
|||
|
International Business Machines Corp.
|
|
27,449
|
6,948,714
|
|
Semiconductor Materials & Equipment-3.49%
|
|||
|
KLA Corp.
|
|
15,151
|
13,318,184
|
|
Semiconductors-9.94%
|
|||
|
Broadcom, Inc.
|
|
59,469
|
17,466,046
|
|
Navitas Semiconductor Corp.(b)(c)
|
|
1,989,525
|
14,583,218
|
|
SiTime Corp.(b)
|
|
28,885
|
5,859,727
|
|
|
|
|
37,908,991
|
|
Systems Software-19.82%
|
|||
|
Commvault Systems, Inc.(b)
|
|
30,914
|
5,872,114
|
|
|
Shares
|
Value
|
|
|
Systems Software-(continued)
|
|||
|
CrowdStrike Holdings, Inc., Class A(b)
|
|
22,535
|
$10,243,735
|
|
Fortinet, Inc.(b)
|
|
75,379
|
7,530,362
|
|
Microsoft Corp.
|
|
20,624
|
11,002,904
|
|
Oracle Corp.
|
|
40,972
|
10,397,465
|
|
Palo Alto Networks, Inc.(b)
|
|
54,549
|
9,469,706
|
|
Rubrik, Inc., Class A(b)(c)
|
|
129,827
|
12,327,074
|
|
Zscaler, Inc.(b)
|
|
30,612
|
8,741,563
|
|
|
|
|
75,584,923
|
|
Technology Hardware, Storage & Peripherals-7.38%
|
|||
|
CompoSecure, Inc., Class A(b)(c)
|
|
360,968
|
5,129,355
|
|
Seagate Technology Holdings PLC
|
|
61,384
|
9,637,902
|
|
Super Micro Computer, Inc.(b)
|
|
226,703
|
13,368,676
|
|
|
|
|
28,135,933
|
|
Transaction & Payment Processing Services-2.92%
|
|||
|
Toast, Inc., Class A(b)
|
|
227,582
|
11,115,105
|
|
Wireless Telecommunication Services-1.32%
|
|||
|
Gogo, Inc.(b)(c)
|
|
317,551
|
5,036,359
|
|
Total Common Stocks & Other Equity Interests
(Cost $350,725,504)
|
381,102,697
|
||
|
Money Market Funds-0.11%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(d)(e)
(Cost $414,364)
|
|
414,364
|
414,364
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.06%
(Cost $351,139,868)
|
381,517,061
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-15.94%
|
|||
|
Invesco Private Government Fund,
4.32%(d)(e)(f)
|
|
16,882,406
|
16,882,406
|
|
Invesco Private Prime Fund, 4.46%(d)(e)(f)
|
|
43,906,132
|
43,914,913
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $60,797,319)
|
60,797,319
|
||
|
TOTAL INVESTMENTS IN SECURITIES-116.00%
(Cost $411,937,187)
|
442,314,380
|
||
|
OTHER ASSETS LESS LIABILITIES-(16.00)%
|
(61,005,045
)
|
||
|
NET ASSETS-100.00%
|
$381,309,335
|
||
|
Notes to Schedule of Investments:
|
|
|
(a)
|
Industry and/or sector classifications used in this report are generally according
to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
|
|
(b)
|
Non-income producing security.
|
|
(c)
|
All or a portion of this security was out on loan at July 31, 2025.
|
|
(d)
|
Affiliated holding. Affiliated holdings are investments in entities which are under
common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the three months ended July 31, 2025.
|
|
|
Value
April 30, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
|
Realized
Gain
(Loss)
|
Value
July 31, 2025
|
Dividend Income
|
|
Investments in Affiliated
Money Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government & Agency
Portfolio, Institutional Class
|
$285,703
|
$1,536,881
|
$(1,408,220
)
|
$-
|
$-
|
$414,364
|
$3,294
|
|
Investments Purchased with
Cash Collateral from
Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government
Fund
|
16,989,874
|
75,137,072
|
(75,244,540
)
|
-
|
-
|
16,882,406
|
177,575
*
|
|
Invesco Private Prime Fund
|
44,155,951
|
129,149,053
|
(129,390,290
)
|
1,801
|
(1,602
)
|
43,914,913
|
477,923
*
|
|
Total
|
$61,431,528
|
$205,823,006
|
$(206,043,050
)
|
$1,801
|
$(1,602
)
|
$61,211,683
|
$658,792
|
|
*
|
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.
|
|
(e)
|
The rate shown is the 7-day SEC standardized yield as of July 31, 2025.
|
|
(f)
|
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.
|
|
|
Shares
|
Value
|
|
|
Common Stocks & Other Equity Interests-99.98%
|
|||
|
Electric Utilities-42.21%
|
|||
|
Alliant Energy Corp.
|
|
32,152
|
$2,090,202
|
|
American Electric Power Co., Inc.
|
|
17,864
|
2,021,133
|
|
Constellation Energy Corp.
|
|
5,973
|
2,077,648
|
|
Duke Energy Corp.
|
|
22,627
|
2,752,348
|
|
Entergy Corp.
|
|
26,329
|
2,380,931
|
|
Evergy, Inc.
|
|
29,243
|
2,070,404
|
|
Eversource Energy
|
|
28,223
|
1,865,540
|
|
Exelon Corp.
|
|
48,220
|
2,167,007
|
|
NRG Energy, Inc.
|
|
18,028
|
3,014,282
|
|
Oklo, Inc.(b)(c)
|
|
43,752
|
3,350,966
|
|
Otter Tail Corp.(c)
|
|
20,673
|
1,595,542
|
|
Pinnacle West Capital Corp.
|
|
20,648
|
1,871,122
|
|
Southern Co. (The)
|
|
23,834
|
2,251,836
|
|
Xcel Energy, Inc.
|
|
32,265
|
2,369,542
|
|
|
|
|
31,878,503
|
|
Gas Utilities-8.52%
|
|||
|
Atmos Energy Corp.
|
|
18,339
|
2,859,417
|
|
National Fuel Gas Co.
|
|
22,332
|
1,938,194
|
|
UGI Corp.(c)
|
|
45,269
|
1,637,833
|
|
|
|
|
6,435,444
|
|
Heavy Electrical Equipment-4.32%
|
|||
|
GE Vernova, Inc.
|
|
4,944
|
3,264,474
|
|
Independent Power Producers & Energy Traders-6.65%
|
|||
|
Talen Energy Corp.(b)(c)
|
|
7,613
|
2,874,440
|
|
Vistra Corp.
|
|
10,323
|
2,152,759
|
|
|
|
|
5,027,199
|
|
Integrated Telecommunication Services-2.91%
|
|||
|
AT&T, Inc.
|
|
80,202
|
2,198,337
|
|
Multi-Utilities-25.14%
|
|||
|
Ameren Corp.
|
|
18,977
|
1,919,144
|
|
CenterPoint Energy, Inc.(c)
|
|
53,107
|
2,061,614
|
|
CMS Energy Corp.
|
|
29,446
|
2,173,115
|
|
DTE Energy Co.
|
|
18,805
|
2,602,800
|
|
NiSource, Inc.
|
|
67,913
|
2,882,907
|
|
Public Service Enterprise Group, Inc.
|
|
26,316
|
2,362,913
|
|
Sempra
|
|
28,548
|
2,331,800
|
|
WEC Energy Group, Inc.(c)
|
|
24,309
|
2,651,626
|
|
|
|
|
18,985,919
|
|
|
Shares
|
Value
|
|
|
Oil & Gas Exploration & Production-2.23%
|
|||
|
EQT Corp.
|
|
31,344
|
$1,684,740
|
|
Oil & Gas Storage & Transportation-4.29%
|
|||
|
Excelerate Energy, Inc., Class A(c)
|
|
55,314
|
1,419,357
|
|
ONEOK, Inc.
|
|
22,173
|
1,820,625
|
|
|
|
|
3,239,982
|
|
Water Utilities-3.71%
|
|||
|
American Water Works Co., Inc.
|
|
19,982
|
2,802,276
|
|
Total Common Stocks & Other Equity Interests
(Cost $64,953,465)
|
75,516,874
|
||
|
Money Market Funds-0.15%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(d)(e)
(Cost $107,849)
|
|
107,849
|
107,849
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.13%
(Cost $65,061,314)
|
75,624,723
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-15.98%
|
|||
|
Invesco Private Government Fund,
4.32%(d)(e)(f)
|
|
3,048,977
|
3,048,977
|
|
Invesco Private Prime Fund, 4.46%(d)(e)(f)
|
|
9,020,228
|
9,022,032
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $12,071,009)
|
12,071,009
|
||
|
TOTAL INVESTMENTS IN SECURITIES-116.11%
(Cost $77,132,323)
|
87,695,732
|
||
|
OTHER ASSETS LESS LIABILITIES-(16.11)%
|
(12,165,649
)
|
||
|
NET ASSETS-100.00%
|
$75,530,083
|
||
|
Notes to Schedule of Investments:
|
|
|
(a)
|
Industry and/or sector classifications used in this report are generally according
to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
|
|
(b)
|
Non-income producing security.
|
|
(c)
|
All or a portion of this security was out on loan at July 31, 2025.
|
|
(d)
|
Affiliated holding. Affiliated holdings are investments in entities which are under
common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the three months ended July 31, 2025.
|
|
|
Value
April 30, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
|
Realized
Gain
(Loss)
|
Value
July 31, 2025
|
Dividend Income
|
|
Investments in Affiliated Money
Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government & Agency
Portfolio, Institutional Class
|
$94,565
|
$762,819
|
$(749,535
)
|
$-
|
$-
|
$107,849
|
$1,350
|
|
|
Value
April 30, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
|
Realized
Gain
(Loss)
|
Value
July 31, 2025
|
Dividend Income
|
|
Investments Purchased with
Cash Collateral from Securities
on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund
|
$2,519,060
|
$11,661,931
|
$(11,132,014
)
|
$-
|
$-
|
$3,048,977
|
$23,567
*
|
|
Invesco Private Prime Fund
|
6,535,402
|
29,560,607
|
(27,073,974
)
|
156
|
(159
)
|
9,022,032
|
64,337
*
|
|
Total
|
$9,149,027
|
$41,985,357
|
$(38,955,523
)
|
$156
|
$(159
)
|
$12,178,858
|
$89,254
|
|
*
|
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.
|
|
(e)
|
The rate shown is the 7-day SEC standardized yield as of July 31, 2025.
|
|
(f)
|
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.
|
|
|
Shares
|
Value
|
|
|
Common Stocks & Other Equity Interests-100.02%
|
|||
|
Advertising-0.03%
|
|||
|
Criteo S.A., ADR (France)(b)
|
|
10,265
|
$249,850
|
|
Apparel Retail-0.02%
|
|||
|
Lands’ End, Inc.(b)(c)
|
|
5,611
|
65,817
|
|
Stitch Fix, Inc., Class A(b)(c)
|
|
20,483
|
96,885
|
|
|
|
|
162,702
|
|
Application Software-8.54%
|
|||
|
Adobe, Inc.(b)
|
|
69,903
|
25,003,604
|
|
Alarm.com Holdings, Inc.(b)(c)
|
|
9,057
|
494,784
|
|
Box, Inc., Class A(b)(c)
|
|
26,358
|
846,092
|
|
Consensus Cloud Solutions, Inc.(b)(c)
|
|
3,564
|
71,922
|
|
DocuSign, Inc.(b)
|
|
37,109
|
2,806,925
|
|
Dropbox, Inc., Class A(b)(c)
|
|
35,720
|
970,512
|
|
Open Text Corp. (Canada)
|
|
47,171
|
1,388,243
|
|
PROS Holdings, Inc.(b)(c)
|
|
8,709
|
136,644
|
|
Salesforce, Inc.
|
|
109,343
|
28,246,577
|
|
SPS Commerce, Inc.(b)(c)
|
|
6,908
|
752,039
|
|
Unity Software, Inc.(b)(c)
|
|
75,673
|
2,524,451
|
|
Zoom Communications, Inc., Class A(b)
|
|
47,313
|
3,503,528
|
|
|
|
|
66,745,321
|
|
Broadline Retail-16.15%
|
|||
|
Alibaba Group Holding Ltd., ADR (China)(c)
|
|
128,835
|
15,541,366
|
|
Amazon.com, Inc.(b)
|
|
283,058
|
66,266,708
|
|
Coupang, Inc. (South Korea)(b)
|
|
301,467
|
8,872,174
|
|
eBay, Inc.
|
|
83,823
|
7,690,760
|
|
Etsy, Inc.(b)(c)
|
|
18,980
|
1,105,965
|
|
Global-e Online Ltd. (Israel)(b)
|
|
30,894
|
1,024,136
|
|
JD.com, Inc., ADR (China)
|
|
87,095
|
2,742,622
|
|
MercadoLibre, Inc. (Brazil)(b)
|
|
9,224
|
21,896,761
|
|
Vipshop Holdings Ltd., ADR (China)
|
|
74,540
|
1,124,809
|
|
|
|
|
126,265,301
|
|
Casinos & Gaming-0.52%
|
|||
|
DraftKings, Inc., Class A(b)(c)
|
|
90,182
|
4,061,797
|
|
Commercial Printing-0.03%
|
|||
|
Cimpress PLC (Ireland)(b)(c)
|
|
4,530
|
250,554
|
|
Financial Exchanges & Data-1.86%
|
|||
|
Coinbase Global, Inc., Class A(b)(c)
|
|
38,445
|
14,522,983
|
|
Health Care Technology-0.04%
|
|||
|
GoodRx Holdings, Inc., Class A(b)(c)
|
|
18,263
|
87,480
|
|
Teladoc Health, Inc.(b)(c)
|
|
31,928
|
230,201
|
|
|
|
|
317,681
|
|
Homefurnishing Retail-0.17%
|
|||
|
Beyond, Inc.(b)(c)
|
|
10,501
|
93,984
|
|
Wayfair, Inc., Class A(b)(c)
|
|
18,865
|
1,238,298
|
|
|
|
|
1,332,282
|
|
Hotels, Resorts & Cruise Lines-6.23%
|
|||
|
Airbnb, Inc., Class A(b)
|
|
78,496
|
10,393,655
|
|
Booking Holdings, Inc.
|
|
5,253
|
28,912,827
|
|
Expedia Group, Inc.
|
|
22,096
|
3,982,141
|
|
MakeMyTrip Ltd. (India)(b)(c)
|
|
16,365
|
1,531,600
|
|
Trip.com Group Ltd., ADR (China)(c)
|
|
62,351
|
3,862,645
|
|
|
|
|
48,682,868
|
|
Human Resource & Employment Services-0.24%
|
|||
|
Paylocity Holding Corp.(b)
|
|
10,050
|
1,858,044
|
|
Interactive Home Entertainment-4.73%
|
|||
|
Electronic Arts, Inc.
|
|
45,599
|
6,953,392
|
|
NetEase, Inc., ADR (China)
|
|
18,141
|
2,363,772
|
|
|
Shares
|
Value
|
|
|
Interactive Home Entertainment-(continued)
|
|||
|
Roblox Corp., Class A(b)
|
|
114,599
|
$15,790,596
|
|
Sea Ltd., ADR (Singapore)(b)
|
|
75,774
|
11,869,997
|
|
|
|
|
36,977,757
|
|
Interactive Media & Services-19.04%
|
|||
|
Alphabet, Inc., Class C
|
|
335,725
|
64,747,924
|
|
Autohome, Inc., ADR (China)
|
|
12,301
|
333,234
|
|
Baidu, Inc., ADR (China)(b)(c)
|
|
25,772
|
2,264,586
|
|
Bilibili, Inc., ADR (China)(b)(c)
|
|
21,436
|
489,170
|
|
Bumble, Inc., Class A(b)(c)
|
|
18,798
|
146,248
|
|
Cars.com, Inc.(b)(c)
|
|
11,443
|
147,271
|
|
Meta Platforms, Inc., Class A
|
|
89,629
|
69,322,654
|
|
Pinterest, Inc., Class A(b)
|
|
108,033
|
4,170,074
|
|
Reddit, Inc., Class A(b)(c)
|
|
23,581
|
3,786,873
|
|
Snap, Inc., Class A(b)(c)
|
|
257,952
|
2,432,487
|
|
TripAdvisor, Inc.(b)(c)
|
|
21,505
|
376,122
|
|
Yelp, Inc.(b)(c)
|
|
11,619
|
400,042
|
|
Ziff Davis, Inc.(b)(c)
|
|
7,664
|
238,504
|
|
|
|
|
148,855,189
|
|
Internet Services & Infrastructure-5.43%
|
|||
|
Akamai Technologies, Inc.(b)
|
|
26,614
|
2,030,915
|
|
Fastly, Inc., Class A(b)(c)
|
|
26,356
|
178,957
|
|
GoDaddy, Inc., Class A(b)
|
|
25,905
|
4,185,730
|
|
Okta, Inc.(b)(c)
|
|
30,422
|
2,975,272
|
|
Shopify, Inc., Class A (Canada)(b)
|
|
221,553
|
27,075,992
|
|
VeriSign, Inc.
|
|
17,068
|
4,589,073
|
|
Wix.com Ltd. (Israel)(b)
|
|
10,174
|
1,383,969
|
|
|
|
|
42,419,908
|
|
Movies & Entertainment-10.75%
|
|||
|
Netflix, Inc.(b)
|
|
24,039
|
27,870,817
|
|
Roku, Inc., Class A(b)
|
|
23,579
|
2,220,199
|
|
Spotify Technology S.A. (Sweden)(b)
|
|
37,299
|
23,369,315
|
|
Walt Disney Co. (The)
|
|
256,720
|
30,577,919
|
|
|
|
|
84,038,250
|
|
Other Specialty Retail-0.17%
|
|||
|
1-800-Flowers.com, Inc., Class A(b)(c)
|
|
6,651
|
39,308
|
|
Chewy, Inc., Class A(b)
|
|
35,549
|
1,304,648
|
|
|
|
|
1,343,956
|
|
Passenger Ground Transportation-4.46%
|
|||
|
Grab Holdings Ltd., Class A (Singapore)(b)
|
|
718,905
|
3,515,445
|
|
Lyft, Inc., Class A(b)
|
|
75,012
|
1,054,669
|
|
Uber Technologies, Inc.(b)
|
|
344,797
|
30,255,937
|
|
|
|
|
34,826,051
|
|
Real Estate Services-1.28%
|
|||
|
CoStar Group, Inc.(b)
|
|
76,714
|
7,302,406
|
|
Zillow Group, Inc., Class C(b)
|
|
33,370
|
2,654,583
|
|
|
|
|
9,956,989
|
|
Restaurants-2.32%
|
|||
|
DoorDash, Inc., Class A(b)
|
|
72,512
|
18,146,128
|
|
Systems Software-8.75%
|
|||
|
GitLab, Inc., Class A(b)(c)
|
|
26,546
|
1,162,980
|
|
Microsoft Corp.
|
|
126,053
|
67,249,276
|
|
|
|
|
68,412,256
|
|
Technology Hardware, Storage & Peripherals-7.67%
|
|||
|
Apple, Inc.
|
|
288,918
|
59,970,709
|
|
|
Shares
|
Value
|
|
|
Transaction & Payment Processing Services-1.59%
|
|||
|
Dlocal Ltd. (Uruguay)
|
|
27,558
|
$282,745
|
|
PayPal Holdings, Inc.(b)
|
|
176,909
|
12,164,263
|
|
|
|
|
12,447,008
|
|
Total Common Stocks & Other Equity Interests
(Cost $566,024,837)
|
781,843,584
|
||
|
Money Market Funds-0.03%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(d)(e)
(Cost $219,032)
|
|
219,032
|
219,032
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.05%
(Cost $566,243,869)
|
782,062,616
|
||
|
|
Shares
|
Value
|
|
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-5.37%
|
|||
|
Invesco Private Government Fund,
4.32%(d)(e)(f)
|
|
11,642,567
|
$11,642,567
|
|
Invesco Private Prime Fund, 4.46%(d)(e)(f)
|
|
30,338,117
|
30,344,185
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $41,986,752)
|
41,986,752
|
||
|
TOTAL INVESTMENTS IN SECURITIES-105.42%
(Cost $608,230,621)
|
824,049,368
|
||
|
OTHER ASSETS LESS LIABILITIES-(5.42)%
|
(42,382,291
)
|
||
|
NET ASSETS-100.00%
|
$781,667,077
|
||
|
Investment Abbreviations:
|
|
|
ADR
|
-American Depositary Receipt
|
|
Notes to Schedule of Investments:
|
|
|
(a)
|
Industry and/or sector classifications used in this report are generally according
to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
|
|
(b)
|
Non-income producing security.
|
|
(c)
|
All or a portion of this security was out on loan at July 31, 2025.
|
|
(d)
|
Affiliated holding. Affiliated holdings are investments in entities which are under
common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the three months ended July 31, 2025.
|
|
|
Value
April 30, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
|
Realized
Gain
(Loss)
|
Value
July 31, 2025
|
Dividend Income
|
|
Investments in Affiliated
Money Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government & Agency
Portfolio, Institutional Class
|
$160,647
|
$1,442,513
|
$(1,384,128
)
|
$-
|
$-
|
$219,032
|
$2,051
|
|
Investments Purchased with
Cash Collateral from
Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government
Fund
|
16,131,440
|
61,424,827
|
(65,913,700
)
|
-
|
-
|
11,642,567
|
127,667
*
|
|
Invesco Private Prime Fund
|
41,870,189
|
139,626,331
|
(151,151,545
)
|
351
|
(1,141
)
|
30,344,185
|
346,510
*
|
|
Total
|
$58,162,276
|
$202,493,671
|
$(218,449,373
)
|
$351
|
$(1,141
)
|
$42,205,784
|
$476,228
|
|
*
|
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.
|
|
(e)
|
The rate shown is the 7-day SEC standardized yield as of July 31, 2025.
|
|
(f)
|
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.
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Invesco Dorsey Wright Basic Materials Momentum ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$50,640,896
|
$-
|
$-
|
$50,640,896
|
|
Money Market Funds
|
148,057
|
12,259,839
|
-
|
12,407,896
|
|
Total Investments
|
$50,788,953
|
$12,259,839
|
$-
|
$63,048,792
|
|
Invesco Dorsey Wright Consumer Cyclicals Momentum ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$30,877,115
|
$-
|
$-
|
$30,877,115
|
|
Money Market Funds
|
88,572
|
4,132,390
|
-
|
4,220,962
|
|
Total Investments
|
$30,965,687
|
$4,132,390
|
$-
|
$35,098,077
|
|
Invesco Dorsey Wright Consumer Staples Momentum ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$98,519,367
|
$-
|
$-
|
$98,519,367
|
|
Money Market Funds
|
138,045
|
8,993,512
|
-
|
9,131,557
|
|
Total Investments
|
$98,657,412
|
$8,993,512
|
$-
|
$107,650,924
|
|
Invesco Dorsey Wright Energy Momentum ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$44,545,445
|
$-
|
$-
|
$44,545,445
|
|
Money Market Funds
|
145,408
|
3,864,113
|
-
|
4,009,521
|
|
Total Investments
|
$44,690,853
|
$3,864,113
|
$-
|
$48,554,966
|
|
Invesco Dorsey Wright Financial Momentum ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$61,512,670
|
$-
|
$-
|
$61,512,670
|
|
Money Market Funds
|
105,387
|
13,940,532
|
-
|
14,045,919
|
|
Total Investments
|
$61,618,057
|
$13,940,532
|
$-
|
$75,558,589
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Invesco Dorsey Wright Healthcare Momentum ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$91,951,929
|
$-
|
$-
|
$91,951,929
|
|
Money Market Funds
|
162,798
|
19,522,158
|
-
|
19,684,956
|
|
Total Investments
|
$92,114,727
|
$19,522,158
|
$-
|
$111,636,885
|
|
Invesco Dorsey Wright Industrials Momentum ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$361,575,821
|
$-
|
$-
|
$361,575,821
|
|
Money Market Funds
|
299,681
|
63,419,264
|
-
|
63,718,945
|
|
Total Investments
|
$361,875,502
|
$63,419,264
|
$-
|
$425,294,766
|
|
Invesco Dorsey Wright Technology Momentum ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$381,102,697
|
$-
|
$-
|
$381,102,697
|
|
Money Market Funds
|
414,364
|
60,797,319
|
-
|
61,211,683
|
|
Total Investments
|
$381,517,061
|
$60,797,319
|
$-
|
$442,314,380
|
|
Invesco Dorsey Wright Utilities Momentum ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$75,516,874
|
$-
|
$-
|
$75,516,874
|
|
Money Market Funds
|
107,849
|
12,071,009
|
-
|
12,178,858
|
|
Total Investments
|
$75,624,723
|
$12,071,009
|
$-
|
$87,695,732
|
|
Invesco NASDAQ Internet ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$781,843,584
|
$-
|
$-
|
$781,843,584
|
|
Money Market Funds
|
219,032
|
41,986,752
|
-
|
42,205,784
|
|
Total Investments
|
$782,062,616
|
$41,986,752
|
$-
|
$824,049,368
|