|
|
Shares
|
Value
|
|
|
Common Stocks & Other Equity Interests-99.92%
|
|||
|
Communication Services-7.61%
|
|||
|
Live Nation Entertainment, Inc.(b)(c)
|
|
191,030
|
$28,215,131
|
|
Meta Platforms, Inc., Class A
|
|
27,224
|
21,056,131
|
|
Netflix, Inc.(b)
|
|
16,241
|
18,829,815
|
|
TKO Group Holdings, Inc.
|
|
165,911
|
27,874,707
|
|
Trade Desk, Inc. (The), Class A(b)
|
|
419,845
|
36,509,721
|
|
|
|
|
132,485,505
|
|
Consumer Discretionary-22.91%
|
|||
|
Airbnb, Inc., Class A(b)
|
|
70,117
|
9,284,192
|
|
Booking Holdings, Inc.
|
|
4,856
|
26,727,715
|
|
Carnival Corp.(b)
|
|
1,349,936
|
40,187,595
|
|
Chipotle Mexican Grill, Inc.(b)
|
|
162,693
|
6,976,276
|
|
Deckers Outdoor Corp.(b)
|
|
115,508
|
12,263,484
|
|
DoorDash, Inc., Class A(b)
|
|
108,419
|
27,131,855
|
|
Expedia Group, Inc.
|
|
108,832
|
19,613,703
|
|
Garmin Ltd.
|
|
45,226
|
9,893,640
|
|
Hilton Worldwide Holdings, Inc.
|
|
87,425
|
23,436,894
|
|
Las Vegas Sands Corp.
|
|
301,802
|
15,814,425
|
|
Marriott International, Inc., Class A
|
|
71,305
|
18,812,398
|
|
Norwegian Cruise Line Holdings Ltd.(b)
|
|
1,449,552
|
37,050,549
|
|
PulteGroup, Inc.
|
|
143,568
|
16,211,699
|
|
Ralph Lauren Corp.
|
|
66,544
|
19,880,020
|
|
Royal Caribbean Cruises Ltd.(c)
|
|
139,584
|
44,369,566
|
|
Tapestry, Inc.
|
|
268,430
|
28,998,493
|
|
Tesla, Inc.(b)
|
|
42,694
|
13,161,279
|
|
Williams-Sonoma, Inc.
|
|
42,898
|
8,024,071
|
|
Wynn Resorts Ltd.(c)
|
|
192,451
|
20,982,932
|
|
|
|
|
398,820,786
|
|
Consumer Staples-0.47%
|
|||
|
Costco Wholesale Corp.
|
|
8,773
|
8,243,462
|
|
Energy-2.00%
|
|||
|
Targa Resources Corp.
|
|
74,423
|
12,384,731
|
|
Texas Pacific Land Corp.(c)
|
|
23,121
|
22,384,134
|
|
|
|
|
34,768,865
|
|
Financials-10.41%
|
|||
|
American Express Co.
|
|
66,798
|
19,993,309
|
|
Ameriprise Financial, Inc.
|
|
29,260
|
15,162,239
|
|
Apollo Global Management, Inc.
|
|
167,991
|
24,412,452
|
|
Arch Capital Group Ltd.
|
|
187,195
|
16,110,002
|
|
Brown & Brown, Inc.
|
|
125,196
|
11,439,159
|
|
Corpay, Inc.(b)
|
|
50,036
|
16,164,130
|
|
Erie Indemnity Co., Class A(c)
|
|
35,172
|
12,529,673
|
|
Fiserv, Inc.(b)
|
|
71,005
|
9,865,435
|
|
Mastercard, Inc., Class A
|
|
18,776
|
10,636,041
|
|
Progressive Corp. (The)
|
|
64,381
|
15,582,777
|
|
Synchrony Financial
|
|
265,313
|
18,484,357
|
|
Visa, Inc., Class A
|
|
31,586
|
10,912,015
|
|
|
|
|
181,291,589
|
|
Health Care-4.16%
|
|||
|
Boston Scientific Corp.(b)
|
|
114,895
|
12,054,783
|
|
DaVita, Inc.(b)(c)
|
|
72,324
|
10,152,120
|
|
Eli Lilly and Co.
|
|
9,319
|
6,896,712
|
|
Insulet Corp.(b)
|
|
62,471
|
18,016,637
|
|
Intuitive Surgical, Inc.(b)
|
|
27,055
|
13,015,890
|
|
ResMed, Inc.(c)
|
|
44,927
|
12,217,448
|
|
|
|
|
72,353,590
|
|
Industrials-24.16%
|
|||
|
Axon Enterprise, Inc.(b)
|
|
46,068
|
34,803,913
|
|
Caterpillar, Inc.
|
|
37,185
|
16,287,774
|
|
|
Shares
|
Value
|
|
|
Industrials-(continued)
|
|||
|
Cintas Corp.
|
|
54,880
|
$12,213,544
|
|
Cummins, Inc.
|
|
38,893
|
14,297,845
|
|
Dayforce, Inc.(b)(c)
|
|
99,895
|
5,760,945
|
|
Delta Air Lines, Inc.
|
|
466,876
|
24,842,472
|
|
Eaton Corp. PLC
|
|
25,670
|
9,875,762
|
|
GE Vernova, Inc.
|
|
40,056
|
26,448,576
|
|
Howmet Aerospace, Inc.
|
|
189,076
|
33,990,193
|
|
Hubbell, Inc.
|
|
31,383
|
13,729,435
|
|
Ingersoll Rand, Inc.
|
|
108,208
|
9,157,643
|
|
Lennox International, Inc.
|
|
15,260
|
9,293,340
|
|
Parker-Hannifin Corp.
|
|
15,758
|
11,533,280
|
|
Paycom Software, Inc.(c)
|
|
64,318
|
14,892,190
|
|
Quanta Services, Inc.
|
|
77,613
|
31,520,968
|
|
Republic Services, Inc.
|
|
36,853
|
8,500,144
|
|
Trane Technologies PLC
|
|
46,798
|
20,501,268
|
|
TransDigm Group, Inc.
|
|
9,035
|
14,532,436
|
|
Uber Technologies, Inc.(b)
|
|
296,330
|
26,002,957
|
|
United Airlines Holdings, Inc.(b)
|
|
362,934
|
32,050,702
|
|
United Rentals, Inc.
|
|
30,146
|
26,617,109
|
|
W.W. Grainger, Inc.
|
|
9,533
|
9,909,935
|
|
Wabtec Corp.
|
|
72,490
|
13,921,704
|
|
|
|
|
420,684,135
|
|
Information Technology-20.88%
|
|||
|
Amphenol Corp., Class A
|
|
146,809
|
15,636,627
|
|
Arista Networks, Inc.(b)
|
|
272,767
|
33,610,350
|
|
Broadcom, Inc.
|
|
91,817
|
26,966,653
|
|
CrowdStrike Holdings, Inc., Class A(b)
|
|
58,313
|
26,507,340
|
|
Datadog, Inc., Class A(b)
|
|
147,272
|
20,615,135
|
|
Fair Isaac Corp.(b)
|
|
9,446
|
13,571,257
|
|
Fortinet, Inc.(b)
|
|
275,724
|
27,544,828
|
|
GoDaddy, Inc., Class A(b)
|
|
99,750
|
16,117,605
|
|
International Business Machines Corp.
|
|
39,102
|
9,898,671
|
|
Motorola Solutions, Inc.
|
|
18,234
|
8,004,361
|
|
NVIDIA Corp.
|
|
224,592
|
39,948,179
|
|
Oracle Corp.
|
|
55,895
|
14,184,474
|
|
Palantir Technologies, Inc., Class A(b)
|
|
297,652
|
47,133,194
|
|
Palo Alto Networks, Inc.(b)(c)
|
|
57,134
|
9,918,462
|
|
Salesforce, Inc.
|
|
22,318
|
5,765,409
|
|
ServiceNow, Inc.(b)
|
|
16,513
|
15,573,741
|
|
Super Micro Computer, Inc.(b)(c)
|
|
405,590
|
23,917,642
|
|
Tyler Technologies, Inc.(b)
|
|
14,780
|
8,639,797
|
|
|
|
|
363,553,725
|
|
Real Estate-1.78%
|
|||
|
CBRE Group, Inc., Class A(b)
|
|
108,396
|
16,881,593
|
|
Iron Mountain, Inc.
|
|
145,078
|
14,124,794
|
|
|
|
|
31,006,387
|
|
Utilities-5.54%
|
|||
|
Constellation Energy Corp.
|
|
51,565
|
17,936,370
|
|
NRG Energy, Inc.
|
|
192,646
|
32,210,411
|
|
Vistra Corp.
|
|
222,081
|
46,312,772
|
|
|
|
|
96,459,553
|
|
Total Common Stocks & Other Equity Interests
(Cost $1,433,968,445)
|
1,739,667,597
|
||
|
|
Shares
|
Value
|
|
|
Money Market Funds-0.09%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(d)(e)
(Cost $1,535,003)
|
|
1,535,003
|
$1,535,003
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.01%
(Cost $1,435,503,448)
|
1,741,202,600
|
||
|
Investments Purchased with Cash Collateral from Securities
on Loan
|
|||
|
Money Market Funds-7.56%
|
|||
|
Invesco Private Government Fund,
4.32%(d)(e)(f)
|
|
18,924,626
|
18,924,626
|
|
|
Shares
|
Value
|
|
|
Money Market Funds-(continued)
|
|||
|
Invesco Private Prime Fund, 4.46%(d)(e)(f)
|
|
112,700,230
|
$112,722,770
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $131,647,396)
|
131,647,396
|
||
|
TOTAL INVESTMENTS IN SECURITIES-107.57%
(Cost $1,567,150,844)
|
1,872,849,996
|
||
|
OTHER ASSETS LESS LIABILITIES-(7.57)%
|
(131,824,416
)
|
||
|
NET ASSETS-100.00%
|
$1,741,025,580
|
||
|
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
|
$493,940
|
$3,782,769
|
$(2,741,706
)
|
$-
|
$-
|
$1,535,003
|
$5,412
|
|
Investments Purchased with
Cash Collateral from
Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government
Fund
|
47,213,890
|
125,619,745
|
(153,909,009
)
|
-
|
-
|
18,924,626
|
398,225
*
|
|
Invesco Private Prime Fund
|
122,543,494
|
230,505,305
|
(240,326,390
)
|
2,353
|
(1,992
)
|
112,722,770
|
1,090,260
*
|
|
Total
|
$170,251,324
|
$359,907,819
|
$(396,977,105
)
|
$2,353
|
$(1,992
)
|
$133,182,399
|
$1,493,897
|
|
*
|
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-99.92%
|
|||
|
Communication Services-6.15%
|
|||
|
AT&T, Inc.
|
|
366,512
|
$10,046,094
|
|
Comcast Corp., Class A
|
|
184,446
|
6,129,141
|
|
Fox Corp., Class A
|
|
93,789
|
5,229,675
|
|
Fox Corp., Class B
|
|
55,917
|
2,859,595
|
|
Paramount Global, Class B(b)
|
|
2,189,538
|
27,522,493
|
|
Verizon Communications, Inc.
|
|
160,606
|
6,867,512
|
|
Warner Bros. Discovery, Inc.(c)
|
|
1,779,936
|
23,441,757
|
|
|
|
|
82,096,267
|
|
Consumer Discretionary-12.93%
|
|||
|
Aptiv PLC (Jersey)(c)
|
|
255,378
|
17,529,146
|
|
Best Buy Co., Inc.
|
|
145,829
|
9,487,635
|
|
Caesars Entertainment, Inc.(c)
|
|
273,387
|
7,293,965
|
|
CarMax, Inc.(c)
|
|
194,564
|
11,014,268
|
|
D.R. Horton, Inc.
|
|
38,076
|
5,438,776
|
|
Ford Motor Co.
|
|
3,315,528
|
36,702,895
|
|
General Motors Co.
|
|
678,990
|
36,217,326
|
|
Genuine Parts Co.
|
|
60,969
|
7,857,685
|
|
Lennar Corp., Class A
|
|
54,896
|
6,158,233
|
|
LKQ Corp.
|
|
366,493
|
10,800,549
|
|
MGM Resorts International(c)
|
|
238,797
|
8,704,151
|
|
Mohawk Industries, Inc.(c)
|
|
135,299
|
15,493,088
|
|
|
|
|
172,697,717
|
|
Consumer Staples-17.96%
|
|||
|
Archer-Daniels-Midland Co.
|
|
594,999
|
32,237,046
|
|
Bunge Global S.A.
|
|
367,642
|
29,323,126
|
|
Conagra Brands, Inc.
|
|
379,314
|
6,926,274
|
|
Dollar General Corp.
|
|
237,327
|
24,895,602
|
|
Dollar Tree, Inc.(c)
|
|
201,106
|
22,835,586
|
|
J.M. Smucker Co. (The)
|
|
71,245
|
7,647,438
|
|
Kraft Heinz Co. (The)
|
|
601,286
|
16,511,313
|
|
Kroger Co. (The)
|
|
354,972
|
24,883,537
|
|
Molson Coors Beverage Co., Class B
|
|
287,383
|
14,001,300
|
|
Sysco Corp.
|
|
122,966
|
9,788,094
|
|
Target Corp.
|
|
79,510
|
7,990,755
|
|
Tyson Foods, Inc., Class A
|
|
396,469
|
20,735,329
|
|
Walgreens Boots Alliance, Inc.
|
|
1,894,203
|
22,048,523
|
|
|
|
|
239,823,923
|
|
Energy-9.52%
|
|||
|
APA Corp.
|
|
562,303
|
10,846,825
|
|
Chevron Corp.
|
|
42,147
|
6,391,171
|
|
Coterra Energy, Inc.
|
|
230,803
|
5,629,285
|
|
Devon Energy Corp.
|
|
210,397
|
6,989,388
|
|
Diamondback Energy, Inc.
|
|
43,793
|
6,510,267
|
|
EQT Corp.
|
|
132,538
|
7,123,918
|
|
Exxon Mobil Corp.
|
|
61,381
|
6,852,575
|
|
Marathon Petroleum Corp.
|
|
131,688
|
22,411,981
|
|
Occidental Petroleum Corp.
|
|
142,829
|
6,275,906
|
|
Phillips 66
|
|
176,776
|
21,845,978
|
|
Valero Energy Corp.
|
|
191,497
|
26,294,453
|
|
|
|
|
127,171,747
|
|
Financials-18.53%
|
|||
|
Allstate Corp. (The)
|
|
39,503
|
8,028,985
|
|
American International Group, Inc.
|
|
211,929
|
16,452,048
|
|
Assurant, Inc.
|
|
36,711
|
6,875,970
|
|
Bank of America Corp.
|
|
151,839
|
7,177,430
|
|
Capital One Financial Corp.
|
|
46,610
|
10,021,150
|
|
Chubb Ltd.
|
|
21,864
|
5,816,699
|
|
Citigroup, Inc.
|
|
280,519
|
26,284,630
|
|
Citizens Financial Group, Inc.
|
|
281,996
|
13,456,849
|
|
|
Shares
|
Value
|
|
|
Financials-(continued)
|
|||
|
Everest Group Ltd.
|
|
45,548
|
$15,295,018
|
|
Franklin Resources, Inc.
|
|
705,507
|
16,932,168
|
|
Global Payments, Inc.
|
|
64,266
|
5,138,067
|
|
Huntington Bancshares, Inc.
|
|
355,719
|
5,844,463
|
|
Invesco Ltd.(d)
|
|
1,019,350
|
21,416,543
|
|
KeyCorp
|
|
329,248
|
5,900,124
|
|
Loews Corp.
|
|
183,720
|
16,634,009
|
|
M&T Bank Corp.
|
|
32,444
|
6,122,183
|
|
MetLife, Inc.
|
|
123,924
|
9,412,028
|
|
Principal Financial Group, Inc.
|
|
77,257
|
6,012,912
|
|
Prudential Financial, Inc.
|
|
139,536
|
14,453,139
|
|
Regions Financial Corp.
|
|
241,539
|
6,118,183
|
|
State Street Corp.
|
|
94,408
|
10,550,094
|
|
Travelers Cos., Inc. (The)
|
|
26,019
|
6,771,185
|
|
Truist Financial Corp.
|
|
156,168
|
6,826,103
|
|
|
|
|
247,539,980
|
|
Health Care-16.27%
|
|||
|
Baxter International, Inc.
|
|
200,563
|
4,364,251
|
|
Biogen, Inc.(c)
|
|
49,006
|
6,272,768
|
|
Cardinal Health, Inc.
|
|
143,234
|
22,232,781
|
|
Cencora, Inc.
|
|
71,418
|
20,431,261
|
|
Centene Corp.(c)
|
|
572,740
|
14,931,332
|
|
Cigna Group (The)
|
|
63,989
|
17,109,379
|
|
CVS Health Corp.
|
|
660,072
|
40,990,471
|
|
Elevance Health, Inc.
|
|
39,660
|
11,226,953
|
|
Henry Schein, Inc.(c)
|
|
106,712
|
7,219,067
|
|
Humana, Inc.
|
|
89,617
|
22,392,600
|
|
McKesson Corp.
|
|
28,785
|
19,963,549
|
|
Molina Healthcare, Inc.(c)
|
|
49,676
|
7,842,350
|
|
Universal Health Services, Inc., Class B
|
|
52,244
|
8,696,014
|
|
Viatris, Inc.
|
|
1,552,488
|
13,568,745
|
|
|
|
|
217,241,521
|
|
Industrials-3.96%
|
|||
|
FedEx Corp.
|
|
28,238
|
6,310,911
|
|
Huntington Ingalls Industries, Inc.
|
|
73,453
|
20,483,103
|
|
Southwest Airlines Co.(b)
|
|
351,043
|
10,857,760
|
|
Stanley Black & Decker, Inc.
|
|
133,741
|
9,047,579
|
|
Textron, Inc.
|
|
79,431
|
6,177,349
|
|
|
|
|
52,876,702
|
|
Information Technology-2.78%
|
|||
|
Hewlett Packard Enterprise Co.
|
|
670,347
|
13,869,479
|
|
Intel Corp.
|
|
452,004
|
8,949,679
|
|
Jabil, Inc.
|
|
64,192
|
14,325,729
|
|
|
|
|
37,144,887
|
|
Materials-6.88%
|
|||
|
Dow, Inc.
|
|
317,852
|
7,402,773
|
|
DuPont de Nemours, Inc.
|
|
74,042
|
5,323,620
|
|
Eastman Chemical Co.
|
|
66,228
|
4,808,815
|
|
International Paper Co.
|
|
112,430
|
5,254,978
|
|
LyondellBasell Industries N.V., Class A
|
|
176,568
|
10,228,584
|
|
Mosaic Co. (The)
|
|
1,003,988
|
36,153,608
|
|
Nucor Corp.
|
|
63,816
|
9,130,155
|
|
Smurfit WestRock PLC
|
|
181,782
|
8,067,485
|
|
Steel Dynamics, Inc.
|
|
43,680
|
5,571,821
|
|
|
|
|
91,941,839
|
|
Real Estate-1.02%
|
|||
|
Alexandria Real Estate Equities, Inc.
|
|
89,004
|
6,802,576
|
|
VICI Properties, Inc.
|
|
210,508
|
6,862,561
|
|
|
|
|
13,665,137
|
|
|
Shares
|
Value
|
|
|
Utilities-3.92%
|
|||
|
AES Corp. (The)
|
|
710,218
|
$9,339,367
|
|
Consolidated Edison, Inc.
|
|
68,761
|
7,116,762
|
|
Evergy, Inc.
|
|
110,554
|
7,827,223
|
|
Eversource Energy
|
|
96,877
|
6,403,570
|
|
Exelon Corp.
|
|
230,053
|
10,338,582
|
|
PG&E Corp.
|
|
328,782
|
4,609,524
|
|
Pinnacle West Capital Corp.
|
|
74,860
|
6,783,813
|
|
|
|
|
52,418,841
|
|
Total Common Stocks & Other Equity Interests
(Cost $1,454,638,123)
|
1,334,618,561
|
||
|
Money Market Funds-0.01%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(d)(e)
(Cost $126,482)
|
|
126,482
|
126,482
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.93%
(Cost $1,454,764,605)
|
1,334,745,043
|
||
|
|
Shares
|
Value
|
|
|
Investments Purchased with Cash Collateral from Securities
on Loan
|
|||
|
Money Market Funds-2.14%
|
|||
|
Invesco Private Government Fund,
4.32%(d)(e)(f)
|
|
7,944,994
|
$7,944,994
|
|
Invesco Private Prime Fund, 4.46%(d)(e)(f)
|
|
20,676,326
|
20,680,461
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $28,626,245)
|
28,625,455
|
||
|
TOTAL INVESTMENTS IN SECURITIES-102.07%
(Cost $1,483,390,850)
|
1,363,370,498
|
||
|
OTHER ASSETS LESS LIABILITIES-(2.07)%
|
(27,699,423
)
|
||
|
NET ASSETS-100.00%
|
$1,335,671,075
|
||
|
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
|
|
Invesco Ltd.
|
$14,111,243
|
$1,542,644
|
$(1,331,229
)
|
$7,027,552
|
$66,333
|
$21,416,543
|
$214,591
|
|
Investments in Affiliated
Money Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government & Agency
Portfolio, Institutional Class
|
417,307
|
8,894,535
|
(9,185,360
)
|
-
|
-
|
126,482
|
11,111
|
|
Investments Purchased with
Cash Collateral from Securities
on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government
Fund
|
16,575,638
|
19,240,175
|
(27,870,819
)
|
-
|
-
|
7,944,994
|
136,780
*
|
|
Invesco Private Prime Fund
|
43,094,869
|
47,912,291
|
(70,325,909
)
|
2,263
|
(3,053
)
|
20,680,461
|
366,099
*
|
|
Total
|
$74,199,057
|
$77,589,645
|
$(108,713,317
)
|
$7,029,815
|
$63,280
|
$50,168,480
|
$728,581
|
|
*
|
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-99.69%
|
|||
|
Communication Services-14.28%
|
|||
|
Alphabet, Inc., Class A
|
|
1,748,915
|
$335,616,789
|
|
Alphabet, Inc., Class C
|
|
1,410,873
|
272,100,967
|
|
AT&T, Inc.
|
|
2,162,435
|
59,272,343
|
|
Meta Platforms, Inc., Class A
|
|
622,197
|
481,232,048
|
|
Netflix, Inc.(b)
|
|
127,899
|
148,286,101
|
|
Verizon Communications, Inc.
|
|
1,266,961
|
54,175,252
|
|
Walt Disney Co. (The)
|
|
540,130
|
64,334,884
|
|
|
|
|
1,415,018,384
|
|
Consumer Discretionary-11.08%
|
|||
|
Amazon.com, Inc.(b)
|
|
2,839,411
|
664,734,509
|
|
Home Depot, Inc. (The)
|
|
298,616
|
109,744,366
|
|
McDonald’s Corp.
|
|
214,958
|
64,502,447
|
|
Tesla, Inc.(b)
|
|
842,144
|
259,607,731
|
|
|
|
|
1,098,589,053
|
|
Consumer Staples-5.76%
|
|||
|
Coca-Cola Co. (The)
|
|
1,163,957
|
79,021,041
|
|
Costco Wholesale Corp.
|
|
133,261
|
125,217,366
|
|
PepsiCo, Inc.
|
|
411,907
|
56,810,213
|
|
Philip Morris International, Inc.
|
|
467,676
|
76,722,248
|
|
Procter & Gamble Co. (The)
|
|
704,463
|
106,000,548
|
|
Walmart, Inc.
|
|
1,298,437
|
127,220,857
|
|
|
|
|
570,992,273
|
|
Energy-2.34%
|
|||
|
Chevron Corp.
|
|
575,825
|
87,318,103
|
|
Exxon Mobil Corp.
|
|
1,295,087
|
144,583,513
|
|
|
|
|
231,901,616
|
|
Financials-10.71%
|
|||
|
Bank of America Corp.
|
|
1,969,112
|
93,079,924
|
|
Berkshire Hathaway, Inc., Class B(b)
|
|
551,057
|
260,032,777
|
|
Goldman Sachs Group, Inc. (The)
|
|
92,203
|
66,717,169
|
|
JPMorgan Chase & Co.
|
|
835,073
|
247,382,025
|
|
Mastercard, Inc., Class A
|
|
243,213
|
137,772,868
|
|
Visa, Inc., Class A
|
|
514,172
|
177,631,001
|
|
Wells Fargo & Co.
|
|
977,852
|
78,844,207
|
|
|
|
|
1,061,459,971
|
|
Health Care-6.45%
|
|||
|
Abbott Laboratories
|
|
522,765
|
65,967,715
|
|
AbbVie, Inc.
|
|
530,851
|
100,341,456
|
|
Eli Lilly and Co.
|
|
236,424
|
174,970,310
|
|
|
Shares
|
Value
|
|
|
Health Care-(continued)
|
|||
|
Intuitive Surgical, Inc.(b)
|
|
107,746
|
$51,835,523
|
|
Johnson & Johnson
|
|
722,952
|
119,099,113
|
|
Merck & Co., Inc.
|
|
754,570
|
58,947,008
|
|
UnitedHealth Group, Inc.
|
|
272,648
|
68,042,035
|
|
|
|
|
639,203,160
|
|
Industrials-1.50%
|
|||
|
Caterpillar, Inc.
|
|
141,418
|
61,943,913
|
|
General Electric Co.
|
|
320,339
|
86,837,496
|
|
|
|
|
148,781,409
|
|
Information Technology-46.91%
|
|||
|
Accenture PLC, Class A (Ireland)
|
|
188,062
|
50,231,360
|
|
Adobe, Inc.(b)
|
|
128,085
|
45,814,724
|
|
Advanced Micro Devices, Inc.(b)
|
|
487,282
|
85,912,689
|
|
Apple, Inc.
|
|
4,488,335
|
931,643,696
|
|
Broadcom, Inc.
|
|
1,413,007
|
415,000,156
|
|
Cisco Systems, Inc.
|
|
1,195,497
|
81,389,436
|
|
International Business Machines Corp.
|
|
279,238
|
70,689,100
|
|
Intuit, Inc.
|
|
84,127
|
66,050,631
|
|
Microsoft Corp.
|
|
2,233,573
|
1,191,611,195
|
|
NVIDIA Corp.
|
|
7,328,686
|
1,303,553,379
|
|
Oracle Corp.
|
|
488,875
|
124,061,809
|
|
Palantir Technologies, Inc., Class A(b)
|
|
639,281
|
101,230,146
|
|
Salesforce, Inc.
|
|
288,415
|
74,506,247
|
|
ServiceNow, Inc.(b)
|
|
62,101
|
58,568,695
|
|
Texas Instruments, Inc.
|
|
273,043
|
49,437,166
|
|
|
|
|
4,649,700,429
|
|
Materials-0.66%
|
|||
|
Linde PLC
|
|
141,539
|
65,144,740
|
|
Total Common Stocks & Other Equity Interests
(Cost $8,211,353,779)
|
9,880,791,035
|
||
|
Money Market Funds-0.04%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(c)(d)
(Cost $3,977,250)
|
|
3,977,250
|
3,977,250
|
|
TOTAL INVESTMENTS IN SECURITIES-99.73%
(Cost $8,215,331,029)
|
9,884,768,285
|
||
|
OTHER ASSETS LESS LIABILITIES-0.27%
|
26,483,604
|
||
|
NET ASSETS-100.00%
|
$9,911,251,889
|
||
|
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)
|
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
|
$3,450,520
|
$21,917,940
|
$(21,391,210
)
|
$-
|
$-
|
$3,977,250
|
$68,923
|
|
|
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
|
$1,987,552
|
$6,447,093
|
$(8,434,645
)
|
$-
|
$-
|
$-
|
$4,838
*
|
|
Invesco Private Prime Fund
|
4,447,929
|
16,956,541
|
(21,404,470
)
|
370
|
(370
)
|
-
|
12,884
*
|
|
Total
|
$9,886,001
|
$45,321,574
|
$(51,230,325
)
|
$370
|
$(370
)
|
$3,977,250
|
$86,645
|
|
*
|
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.
|
|
(d)
|
The rate shown is the 7-day SEC standardized yield as of July 31, 2025.
|
|
|
Shares
|
Value
|
|
|
Common Stocks & Other Equity Interests-100.02%
|
|||
|
Consumer Discretionary-16.68%
|
|||
|
Abercrombie & Fitch Co., Class A(b)
|
|
32,229
|
$3,094,629
|
|
Chewy, Inc., Class A(b)
|
|
84,824
|
3,113,041
|
|
Choice Hotels International, Inc.(c)
|
|
10,788
|
1,377,735
|
|
Churchill Downs, Inc.(c)
|
|
18,753
|
2,007,321
|
|
Crocs, Inc.(b)
|
|
20,008
|
1,995,398
|
|
Grand Canyon Education, Inc.(b)
|
|
12,907
|
2,176,507
|
|
H&R Block, Inc.
|
|
46,858
|
2,546,264
|
|
Hilton Grand Vacations, Inc.(b)(c)
|
|
77,437
|
3,470,726
|
|
Hyatt Hotels Corp., Class A
|
|
26,271
|
3,703,423
|
|
Murphy USA, Inc.
|
|
6,042
|
2,190,104
|
|
Planet Fitness, Inc., Class A(b)
|
|
40,432
|
4,414,770
|
|
Texas Roadhouse, Inc.
|
|
21,814
|
4,038,426
|
|
Toll Brothers, Inc.
|
|
25,531
|
3,021,849
|
|
TopBuild Corp.(b)
|
|
7,358
|
2,725,624
|
|
Travel + Leisure Co.
|
|
54,974
|
3,257,210
|
|
Valvoline, Inc.(b)
|
|
70,355
|
2,480,014
|
|
Wingstop, Inc.(c)
|
|
11,110
|
4,192,247
|
|
|
|
|
49,805,288
|
|
Consumer Staples-3.74%
|
|||
|
Coca-Cola Consolidated, Inc.
|
|
18,761
|
2,096,542
|
|
e.l.f. Beauty, Inc.(b)(c)
|
|
18,160
|
2,200,810
|
|
Pilgrim’s Pride Corp.
|
|
71,672
|
3,396,536
|
|
Sprouts Farmers Market, Inc.(b)
|
|
22,913
|
3,472,236
|
|
|
|
|
11,166,124
|
|
Energy-5.62%
|
|||
|
CNX Resources Corp.(b)(c)
|
|
79,781
|
2,418,162
|
|
DT Midstream, Inc.
|
|
21,251
|
2,183,115
|
|
Permian Resources Corp.
|
|
242,480
|
3,433,517
|
|
Valaris Ltd.(b)(c)
|
|
128,573
|
6,252,505
|
|
Viper Energy, Inc.
|
|
65,803
|
2,478,141
|
|
|
|
|
16,765,440
|
|
Financials-12.40%
|
|||
|
East West Bancorp, Inc.
|
|
29,770
|
2,984,442
|
|
Equitable Holdings, Inc.
|
|
36,890
|
1,894,302
|
|
Hamilton Lane, Inc., Class A
|
|
25,585
|
3,896,595
|
|
Houlihan Lokey, Inc.
|
|
8,074
|
1,539,389
|
|
Interactive Brokers Group, Inc., Class A
|
|
90,725
|
5,947,931
|
|
Kinsale Capital Group, Inc.
|
|
8,026
|
3,536,978
|
|
RenaissanceRe Holdings Ltd. (Bermuda)
|
|
17,812
|
4,341,497
|
|
Ryan Specialty Holdings, Inc., Class A
|
|
44,225
|
2,706,128
|
|
Shift4 Payments, Inc., Class A(b)(c)
|
|
50,772
|
5,229,516
|
|
SLM Corp.
|
|
66,976
|
2,129,837
|
|
Western Alliance Bancorporation
|
|
36,413
|
2,824,192
|
|
|
|
|
37,030,807
|
|
Health Care-17.09%
|
|||
|
Doximity, Inc., Class A(b)
|
|
39,499
|
2,320,566
|
|
Ensign Group, Inc. (The)
|
|
12,002
|
1,800,300
|
|
Exelixis, Inc.(b)
|
|
118,393
|
4,288,194
|
|
Globus Medical, Inc., Class A(b)
|
|
67,037
|
3,528,157
|
|
Halozyme Therapeutics, Inc.(b)
|
|
66,073
|
3,962,398
|
|
HealthEquity, Inc.(b)
|
|
18,791
|
1,822,727
|
|
Hims & Hers Health, Inc.(b)(c)
|
|
161,681
|
10,700,049
|
|
Lantheus Holdings, Inc.(b)
|
|
39,339
|
2,800,543
|
|
Masimo Corp.(b)(c)
|
|
25,725
|
3,956,248
|
|
Medpace Holdings, Inc.(b)
|
|
9,428
|
4,027,642
|
|
Neurocrine Biosciences, Inc.(b)
|
|
19,707
|
2,527,029
|
|
Roivant Sciences Ltd.(b)(c)
|
|
545,523
|
6,197,141
|
|
|
Shares
|
Value
|
|
|
Health Care-(continued)
|
|||
|
Sarepta Therapeutics, Inc.(b)(c)
|
|
40,363
|
$662,760
|
|
United Therapeutics Corp.(b)
|
|
8,824
|
2,423,953
|
|
|
|
|
51,017,707
|
|
Industrials-29.12%
|
|||
|
AAON, Inc.(c)
|
|
45,383
|
3,789,481
|
|
Acuity, Inc.
|
|
7,819
|
2,434,446
|
|
AeroVironment, Inc.(b)(c)
|
|
8,968
|
2,400,196
|
|
Alaska Air Group, Inc.(b)
|
|
64,883
|
3,436,204
|
|
American Airlines Group, Inc.(b)(c)
|
|
275,372
|
3,164,024
|
|
Applied Industrial Technologies, Inc.
|
|
9,131
|
2,479,067
|
|
BWX Technologies, Inc.
|
|
17,699
|
2,689,009
|
|
Carlisle Cos., Inc.
|
|
4,221
|
1,497,231
|
|
Chart Industries, Inc.(b)
|
|
21,627
|
4,300,096
|
|
Clean Harbors, Inc.(b)
|
|
13,708
|
3,232,483
|
|
Comfort Systems USA, Inc.
|
|
12,787
|
8,993,097
|
|
Curtiss-Wright Corp.
|
|
6,535
|
3,203,588
|
|
EMCOR Group, Inc.
|
|
10,429
|
6,544,093
|
|
ESAB Corp.
|
|
19,210
|
2,577,406
|
|
ExlService Holdings, Inc.(b)
|
|
76,893
|
3,339,463
|
|
Kirby Corp.(b)(c)
|
|
29,007
|
2,764,657
|
|
MasTec, Inc.(b)
|
|
25,639
|
4,851,155
|
|
Mueller Industries, Inc.
|
|
23,035
|
1,966,498
|
|
nVent Electric PLC
|
|
31,390
|
2,461,604
|
|
Owens Corning
|
|
11,624
|
1,620,734
|
|
Parsons Corp.(b)(c)
|
|
33,014
|
2,449,639
|
|
Paylocity Holding Corp.(b)
|
|
17,385
|
3,214,139
|
|
RB Global, Inc. (Canada)
|
|
34,532
|
3,738,434
|
|
RBC Bearings, Inc.(b)
|
|
10,272
|
3,978,757
|
|
Saia, Inc.(b)
|
|
3,510
|
1,060,862
|
|
Tetra Tech, Inc.
|
|
53,387
|
1,961,438
|
|
Woodward, Inc.
|
|
10,863
|
2,792,660
|
|
|
|
|
86,940,461
|
|
Information Technology-9.44%
|
|||
|
AppFolio, Inc., Class A(b)
|
|
13,664
|
3,653,480
|
|
Belden, Inc.
|
|
16,853
|
2,083,873
|
|
Coherent Corp.(b)
|
|
17,870
|
1,922,812
|
|
Commvault Systems, Inc.(b)
|
|
17,620
|
3,346,919
|
|
DocuSign, Inc.(b)
|
|
33,980
|
2,570,247
|
|
Dynatrace, Inc.(b)
|
|
29,481
|
1,550,995
|
|
Fabrinet (Thailand)(b)
|
|
8,579
|
2,777,280
|
|
Guidewire Software, Inc.(b)
|
|
19,431
|
4,395,681
|
|
Manhattan Associates, Inc.(b)
|
|
6,175
|
1,356,401
|
|
Okta, Inc.(b)
|
|
19,035
|
1,861,623
|
|
Pegasystems, Inc.
|
|
45,256
|
2,656,980
|
|
|
|
|
28,176,291
|
|
Materials-5.93%
|
|||
|
ATI, Inc.(b)
|
|
57,265
|
4,405,969
|
|
Carpenter Technology Corp.
|
|
30,164
|
7,522,600
|
|
Eagle Materials, Inc.
|
|
12,473
|
2,797,569
|
|
Knife River Corp.(b)
|
|
22,010
|
1,815,385
|
|
Louisiana-Pacific Corp.
|
|
12,944
|
1,170,267
|
|
|
|
|
17,711,790
|
|
Total Common Stocks & Other Equity Interests
(Cost $260,922,977)
|
298,613,908
|
||
|
|
Shares
|
Value
|
|
|
Money Market Funds-0.00%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(d)(e)
(Cost $12,060)
|
|
12,060
|
$12,060
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.02%
(Cost $260,935,037)
|
298,625,968
|
||
|
Investments Purchased with Cash Collateral from Securities
on Loan
|
|||
|
Money Market Funds-17.09%
|
|||
|
Invesco Private Government Fund,
4.32%(d)(e)(f)
|
|
13,802,593
|
13,802,593
|
|
|
Shares
|
Value
|
|
|
Money Market Funds-(continued)
|
|||
|
Invesco Private Prime Fund, 4.46%(d)(e)(f)
|
|
37,202,929
|
$37,210,370
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $51,012,963)
|
51,012,963
|
||
|
TOTAL INVESTMENTS IN SECURITIES-117.11%
(Cost $311,948,000)
|
349,638,931
|
||
|
OTHER ASSETS LESS LIABILITIES-(17.11)%
|
(51,073,011
)
|
||
|
NET ASSETS-100.00%
|
$298,565,920
|
||
|
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
|
$44,577
|
$755,555
|
$(788,072
)
|
$-
|
$-
|
$12,060
|
$843
|
|
Investments Purchased with
Cash Collateral from
Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government
Fund
|
15,622,482
|
37,668,249
|
(39,488,138
)
|
-
|
-
|
13,802,593
|
163,293
*
|
|
Invesco Private Prime Fund
|
40,361,377
|
70,433,783
|
(73,584,997
)
|
2,070
|
(1,863
)
|
37,210,370
|
446,253
*
|
|
Total
|
$56,028,436
|
$108,857,587
|
$(113,861,207
)
|
$2,070
|
$(1,863
)
|
$51,025,023
|
$610,389
|
|
*
|
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-99.90%
|
|||
|
Consumer Discretionary-26.14%
|
|||
|
Aramark
|
|
40,258
|
$1,713,381
|
|
AutoNation, Inc.(b)
|
|
28,046
|
5,402,781
|
|
Capri Holdings Ltd.(b)
|
|
108,347
|
1,970,832
|
|
Gap, Inc. (The)
|
|
88,814
|
1,728,320
|
|
Goodyear Tire & Rubber Co. (The)(b)(c)
|
|
853,119
|
8,770,063
|
|
Graham Holdings Co., Class B(c)
|
|
4,011
|
3,827,216
|
|
Harley-Davidson, Inc.(c)
|
|
98,954
|
2,407,551
|
|
Lear Corp.(c)
|
|
71,621
|
6,753,144
|
|
Lithia Motors, Inc., Class A
|
|
16,314
|
4,698,432
|
|
Macy’s, Inc.
|
|
445,431
|
5,625,794
|
|
Marriott Vacations Worldwide Corp.(c)
|
|
22,041
|
1,641,393
|
|
Penske Automotive Group, Inc.(c)
|
|
29,408
|
4,923,193
|
|
Polaris, Inc.(c)
|
|
42,775
|
2,263,225
|
|
PVH Corp.(c)
|
|
35,488
|
2,605,529
|
|
Taylor Morrison Home Corp., Class A(b)
|
|
38,634
|
2,290,224
|
|
Thor Industries, Inc.(c)
|
|
33,832
|
3,078,374
|
|
Under Armour, Inc., Class A(b)(c)
|
|
97,194
|
645,368
|
|
Under Armour, Inc., Class C(b)(c)
|
|
67,632
|
426,082
|
|
Visteon Corp.(b)
|
|
25,946
|
2,883,898
|
|
Whirlpool Corp.(c)
|
|
42,426
|
3,523,055
|
|
|
|
|
67,177,855
|
|
Consumer Staples-5.96%
|
|||
|
Albertson’s Cos., Inc., Class A
|
|
201,025
|
3,863,700
|
|
Coty, Inc., Class A(b)(c)
|
|
230,755
|
1,119,162
|
|
Darling Ingredients, Inc.(b)
|
|
55,863
|
1,808,844
|
|
Performance Food Group Co.(b)
|
|
51,613
|
5,181,945
|
|
US Foods Holding Corp.(b)
|
|
40,140
|
3,344,866
|
|
|
|
|
15,318,517
|
|
Energy-12.46%
|
|||
|
Chord Energy Corp.
|
|
30,478
|
3,362,638
|
|
Civitas Resources, Inc.
|
|
103,837
|
3,152,491
|
|
HF Sinclair Corp.
|
|
221,669
|
9,740,136
|
|
Murphy Oil Corp.(c)
|
|
111,838
|
2,774,701
|
|
NOV, Inc.
|
|
303,384
|
3,816,571
|
|
Ovintiv, Inc.
|
|
67,036
|
2,760,542
|
|
PBF Energy, Inc., Class A(c)
|
|
283,437
|
6,405,676
|
|
|
|
|
32,012,755
|
|
Financials-13.45%
|
|||
|
Ally Financial, Inc.
|
|
72,554
|
2,746,169
|
|
Associated Banc-Corp
|
|
87,145
|
2,155,967
|
|
Bank OZK
|
|
39,504
|
1,947,547
|
|
Brighthouse Financial, Inc.(b)
|
|
86,225
|
4,125,866
|
|
CNO Financial Group, Inc.
|
|
57,718
|
2,126,331
|
|
Essent Group Ltd.
|
|
30,991
|
1,735,186
|
|
F.N.B. Corp.
|
|
131,739
|
2,018,242
|
|
First American Financial Corp.
|
|
26,494
|
1,590,965
|
|
Hanover Insurance Group, Inc. (The)
|
|
9,592
|
1,646,275
|
|
Kemper Corp.
|
|
28,477
|
1,753,899
|
|
Old Republic International Corp.
|
|
49,126
|
1,776,887
|
|
Prosperity Bancshares, Inc.(c)
|
|
18,715
|
1,246,793
|
|
Reinsurance Group of America, Inc.
|
|
15,806
|
3,041,865
|
|
Starwood Property Trust, Inc.
|
|
74,992
|
1,459,344
|
|
Unum Group
|
|
33,642
|
2,415,832
|
|
Valley National Bancorp
|
|
299,433
|
2,775,744
|
|
|
|
|
34,562,912
|
|
|
Shares
|
Value
|
|
|
Health Care-2.11%
|
|||
|
Acadia Healthcare Co., Inc.(b)(c)
|
|
63,960
|
$1,392,409
|
|
Perrigo Co. PLC
|
|
151,619
|
4,043,679
|
|
|
|
|
5,436,088
|
|
Industrials-17.27%
|
|||
|
AGCO Corp.
|
|
28,846
|
3,402,963
|
|
Avis Budget Group, Inc.(b)(c)
|
|
36,031
|
6,133,917
|
|
CNH Industrial N.V.
|
|
185,457
|
2,403,523
|
|
Concentrix Corp.(c)
|
|
212,476
|
11,042,378
|
|
Fluor Corp.(b)
|
|
26,887
|
1,526,375
|
|
GXO Logistics, Inc.(b)(c)
|
|
40,640
|
2,020,214
|
|
Insperity, Inc.
|
|
22,364
|
1,332,447
|
|
Knight-Swift Transportation Holdings, Inc.
|
|
31,084
|
1,321,070
|
|
ManpowerGroup, Inc.
|
|
102,178
|
4,214,842
|
|
Maximus, Inc.
|
|
20,435
|
1,509,329
|
|
Oshkosh Corp.
|
|
25,669
|
3,247,899
|
|
Terex Corp.
|
|
49,603
|
2,522,809
|
|
WESCO International, Inc.
|
|
17,965
|
3,718,036
|
|
|
|
|
44,395,802
|
|
Information Technology-11.25%
|
|||
|
Amkor Technology, Inc.
|
|
75,642
|
1,706,484
|
|
Arrow Electronics, Inc.(b)(c)
|
|
60,882
|
7,062,312
|
|
Avnet, Inc.
|
|
146,611
|
7,761,586
|
|
BILL Holdings, Inc.(b)(c)
|
|
42,778
|
1,833,037
|
|
Flex Ltd.(b)
|
|
49,380
|
2,462,581
|
|
TD SYNNEX Corp.
|
|
56,010
|
8,087,284
|
|
|
|
|
28,913,284
|
|
Materials-6.02%
|
|||
|
Ashland, Inc.(c)
|
|
23,107
|
1,191,397
|
|
Cleveland-Cliffs, Inc.(b)(c)
|
|
662,470
|
6,969,184
|
|
Commercial Metals Co.
|
|
35,607
|
1,846,579
|
|
Greif, Inc., Class A(c)
|
|
47,423
|
3,008,041
|
|
Olin Corp.(c)
|
|
39,987
|
757,354
|
|
Sonoco Products Co.
|
|
37,793
|
1,703,330
|
|
|
|
|
15,475,885
|
|
Real Estate-0.83%
|
|||
|
Kilroy Realty Corp.(c)
|
|
57,987
|
2,137,401
|
|
Utilities-4.41%
|
|||
|
Black Hills Corp.
|
|
24,346
|
1,406,712
|
|
NorthWestern Energy Group, Inc.
|
|
34,242
|
1,838,795
|
|
Portland General Electric Co.
|
|
39,879
|
1,639,825
|
|
Southwest Gas Holdings, Inc.
|
|
22,525
|
1,760,104
|
|
Spire, Inc.
|
|
23,271
|
1,732,991
|
|
UGI Corp.(c)
|
|
81,773
|
2,958,547
|
|
|
|
|
11,336,974
|
|
Total Common Stocks & Other Equity Interests
(Cost $262,320,254)
|
256,767,473
|
||
|
Money Market Funds-0.08%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(d)(e)
(Cost $197,553)
|
|
197,553
|
197,553
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.98%
(Cost $262,517,807)
|
256,965,026
|
||
|
|
Shares
|
Value
|
|
|
Investments Purchased with Cash Collateral from Securities
on Loan
|
|||
|
Money Market Funds-20.60%
|
|||
|
Invesco Private Government Fund,
4.32%(d)(e)(f)
|
|
14,387,767
|
$14,387,767
|
|
Invesco Private Prime Fund, 4.46%(d)(e)(f)
|
|
38,539,637
|
38,547,345
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $52,935,185)
|
52,935,112
|
||
|
TOTAL INVESTMENTS IN SECURITIES-120.58%
(Cost $315,452,992)
|
309,900,138
|
||
|
OTHER ASSETS LESS LIABILITIES-(20.58)%
|
(52,884,525
)
|
||
|
NET ASSETS-100.00%
|
$257,015,613
|
||
|
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
|
$129,494
|
$10,484,867
|
$(10,416,808
)
|
$-
|
$-
|
$197,553
|
$3,216
|
|
Investments Purchased with
Cash Collateral from
Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government
Fund
|
20,672,156
|
43,147,695
|
(49,432,084
)
|
-
|
-
|
14,387,767
|
196,319
*
|
|
Invesco Private Prime Fund
|
50,964,273
|
84,863,902
|
(97,280,756
)
|
2,556
|
(2,630
)
|
38,547,345
|
535,354
*
|
|
Total
|
$71,765,923
|
$138,496,464
|
$(157,129,648
)
|
$2,556
|
$(2,630
)
|
$53,132,665
|
$734,889
|
|
*
|
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%
|
|||
|
Communication Services-3.36%
|
|||
|
CarGurus, Inc.(b)
|
|
12,842
|
$421,474
|
|
Cinemark Holdings, Inc.(c)
|
|
48,837
|
1,312,250
|
|
Cogent Communications Holdings, Inc.(c)
|
|
6,885
|
313,887
|
|
Madison Square Garden Sports Corp.,
Class A(b)
|
|
3,831
|
774,245
|
|
QuinStreet, Inc.(b)
|
|
30,350
|
498,044
|
|
|
|
|
3,319,900
|
|
Consumer Discretionary-12.86%
|
|||
|
Adtalem Global Education, Inc.(b)
|
|
12,617
|
1,441,744
|
|
Boot Barn Holdings, Inc.(b)
|
|
5,571
|
957,655
|
|
Brinker International, Inc.(b)
|
|
6,147
|
968,767
|
|
Cavco Industries, Inc.(b)
|
|
1,859
|
750,422
|
|
Champion Homes, Inc.(b)
|
|
4,403
|
268,143
|
|
Dave & Buster’s Entertainment, Inc.(b)(c)
|
|
19,919
|
582,431
|
|
Dorman Products, Inc.(b)
|
|
7,511
|
905,977
|
|
Dream Finders Homes, Inc., Class A(b)(c)
|
|
29,997
|
759,524
|
|
Frontdoor, Inc.(b)
|
|
9,124
|
533,754
|
|
Green Brick Partners, Inc.(b)
|
|
14,237
|
881,840
|
|
Installed Building Products, Inc.(c)
|
|
3,339
|
675,446
|
|
Kontoor Brands, Inc.
|
|
3,707
|
206,332
|
|
Monarch Casino & Resort, Inc.
|
|
4,529
|
466,306
|
|
Sabre Corp.(b)(c)
|
|
264,836
|
802,453
|
|
Shake Shack, Inc., Class A(b)
|
|
8,197
|
986,427
|
|
Six Flags Entertainment Corp.(b)(c)
|
|
16,958
|
508,062
|
|
Stride, Inc.(b)
|
|
5,912
|
758,096
|
|
XPEL, Inc.(b)(c)(d)
|
|
7,311
|
238,997
|
|
|
|
|
12,692,376
|
|
Consumer Staples-4.29%
|
|||
|
Cal-Maine Foods, Inc.
|
|
13,024
|
1,447,487
|
|
Chefs’ Warehouse, Inc. (The)(b)
|
|
24,137
|
1,654,833
|
|
Freshpet, Inc.(b)(c)
|
|
11,942
|
815,878
|
|
Interparfums, Inc.
|
|
2,612
|
315,007
|
|
|
|
|
4,233,205
|
|
Energy-3.99%
|
|||
|
Archrock, Inc.
|
|
25,409
|
593,554
|
|
Atlas Energy Solutions, Inc.(c)
|
|
40,899
|
531,687
|
|
Cactus, Inc., Class A
|
|
17,444
|
738,055
|
|
Core Natural Resources, Inc.
|
|
7,830
|
577,932
|
|
Northern Oil and Gas, Inc.(c)
|
|
18,698
|
526,536
|
|
Oceaneering International, Inc.(b)
|
|
17,201
|
373,262
|
|
Tidewater, Inc.(b)(c)
|
|
11,896
|
594,919
|
|
|
|
|
3,935,945
|
|
Financials-16.14%
|
|||
|
Acadian Asset Management, Inc.
|
|
38,782
|
1,620,700
|
|
Axos Financial, Inc.(b)
|
|
16,288
|
1,406,469
|
|
BancFirst Corp.
|
|
2,471
|
307,689
|
|
Bancorp, Inc. (The)(b)
|
|
13,784
|
870,597
|
|
City Holding Co.
|
|
2,455
|
299,756
|
|
Enova International, Inc.(b)
|
|
10,025
|
1,048,214
|
|
Goosehead Insurance, Inc., Class A
|
|
6,057
|
550,642
|
|
HCI Group, Inc.
|
|
6,578
|
921,183
|
|
Mercury General Corp.
|
|
11,626
|
805,100
|
|
NMI Holdings, Inc., Class A(b)
|
|
13,334
|
497,625
|
|
Palomar Holdings, Inc.(b)
|
|
12,223
|
1,619,425
|
|
Pathward Financial, Inc.
|
|
12,456
|
941,985
|
|
Payoneer Global, Inc.(b)
|
|
35,543
|
233,518
|
|
PJT Partners, Inc., Class A(c)
|
|
4,484
|
800,932
|
|
Preferred Bank(c)
|
|
7,503
|
681,422
|
|
PROG Holdings, Inc.
|
|
15,210
|
484,286
|
|
|
Shares
|
Value
|
|
|
Financials-(continued)
|
|||
|
ServisFirst Bancshares, Inc.
|
|
5,285
|
$415,665
|
|
Trupanion, Inc.(b)(c)
|
|
22,270
|
1,055,821
|
|
Virtu Financial, Inc., Class A
|
|
11,178
|
493,397
|
|
WisdomTree, Inc.(c)
|
|
66,228
|
878,846
|
|
|
|
|
15,933,272
|
|
Health Care-20.75%
|
|||
|
ADMA Biologics, Inc.(b)
|
|
72,497
|
1,355,694
|
|
ANI Pharmaceuticals, Inc.(b)
|
|
6,916
|
438,129
|
|
Arcus Biosciences, Inc.(b)(c)
|
|
37,403
|
341,489
|
|
Artivion, Inc.(b)
|
|
15,742
|
486,585
|
|
Astrana Health, Inc.(b)(c)
|
|
20,690
|
493,663
|
|
BioLife Solutions, Inc.(b)(c)
|
|
23,438
|
498,292
|
|
Catalyst Pharmaceuticals, Inc.(b)
|
|
49,588
|
1,057,712
|
|
Collegium Pharmaceutical, Inc.(b)(c)
|
|
23,425
|
699,471
|
|
Corcept Therapeutics, Inc.(b)
|
|
22,993
|
1,544,440
|
|
CorVel Corp.(b)
|
|
6,376
|
564,914
|
|
Glaukos Corp.(b)
|
|
3,839
|
330,500
|
|
Harmony Biosciences Holdings, Inc.(b)
|
|
23,858
|
839,324
|
|
ICU Medical, Inc.(b)
|
|
5,567
|
714,858
|
|
Inspire Medical Systems, Inc.(b)
|
|
4,468
|
556,445
|
|
Integer Holdings Corp.(b)
|
|
4,142
|
449,448
|
|
Krystal Biotech, Inc.(b)
|
|
7,472
|
1,149,717
|
|
LeMaitre Vascular, Inc.
|
|
7,418
|
602,638
|
|
OmniAb, Inc., Rts., expiring
11/02/2027(b)(c)(e)
|
|
2,881
|
0
|
|
OmniAb, Inc., Rts., expiring
11/02/2027(b)(c)(e)
|
|
2,881
|
0
|
|
Phibro Animal Health Corp., Class A
|
|
26,846
|
711,419
|
|
Protagonist Therapeutics, Inc.(b)(c)
|
|
36,666
|
1,974,831
|
|
RadNet, Inc.(b)(c)
|
|
5,663
|
309,936
|
|
TG Therapeutics, Inc.(b)(c)
|
|
45,893
|
1,629,201
|
|
TransMedics Group, Inc.(b)(c)
|
|
11,113
|
1,322,114
|
|
UFP Technologies, Inc.(b)(c)
|
|
4,502
|
1,019,208
|
|
Veracyte, Inc.(b)(c)
|
|
43,947
|
1,033,194
|
|
Vericel Corp.(b)(c)
|
|
10,161
|
355,025
|
|
|
|
|
20,478,247
|
|
Industrials-21.95%
|
|||
|
Apogee Enterprises, Inc.
|
|
8,794
|
369,260
|
|
Armstrong World Industries, Inc.
|
|
5,325
|
1,002,005
|
|
AZZ, Inc.
|
|
14,095
|
1,543,403
|
|
CSW Industrials, Inc.
|
|
2,460
|
638,321
|
|
DXP Enterprises, Inc.(b)
|
|
17,146
|
1,941,956
|
|
Dycom Industries, Inc.(b)
|
|
4,917
|
1,321,739
|
|
Enerpac Tool Group Corp.
|
|
11,283
|
434,508
|
|
ESCO Technologies, Inc.
|
|
3,171
|
614,223
|
|
Federal Signal Corp.
|
|
5,316
|
672,846
|
|
GEO Group, Inc. (The)(b)
|
|
15,875
|
411,480
|
|
Granite Construction, Inc.
|
|
7,367
|
695,960
|
|
Greenbrier Cos., Inc. (The)
|
|
19,709
|
896,760
|
|
Griffon Corp.
|
|
7,832
|
636,507
|
|
Interface, Inc.
|
|
24,249
|
500,014
|
|
Kadant, Inc.(c)
|
|
1,328
|
441,919
|
|
Moog, Inc., Class A
|
|
2,002
|
387,547
|
|
Mueller Water Products, Inc., Class A
|
|
19,768
|
489,456
|
|
OPENLANE, Inc.(b)(c)
|
|
43,397
|
1,069,302
|
|
Powell Industries, Inc.(c)
|
|
5,274
|
1,250,465
|
|
Pursuit Attractions and Hospitality, Inc.(b)(c)
|
|
22,853
|
691,075
|
|
SkyWest, Inc.(b)
|
|
10,163
|
1,178,501
|
|
SPX Technologies, Inc.(b)
|
|
6,165
|
1,124,434
|
|
Sterling Infrastructure, Inc.(b)(c)
|
|
4,219
|
1,128,962
|
|
Trinity Industries, Inc.
|
|
29,463
|
686,488
|
|
|
Shares
|
Value
|
|
|
Industrials-(continued)
|
|||
|
Verra Mobility Corp., Class A(b)
|
|
22,909
|
$578,681
|
|
Zurn Elkay Water Solutions Corp.
|
|
21,704
|
960,402
|
|
|
|
|
21,666,214
|
|
Information Technology-9.73%
|
|||
|
ACI Worldwide, Inc.(b)
|
|
15,235
|
648,402
|
|
Agilysys, Inc.(b)(c)
|
|
5,014
|
571,997
|
|
Badger Meter, Inc.
|
|
2,864
|
540,609
|
|
Box, Inc., Class A(b)
|
|
10,649
|
341,833
|
|
CleanSpark, Inc.(b)(c)
|
|
68,467
|
778,470
|
|
Clear Secure, Inc., Class A
|
|
28,316
|
832,773
|
|
DigitalOcean Holdings, Inc.(b)
|
|
12,321
|
343,263
|
|
Impinj, Inc.(b)(c)
|
|
7,192
|
1,111,739
|
|
InterDigital, Inc.(c)
|
|
7,314
|
1,888,475
|
|
Itron, Inc.(b)
|
|
4,390
|
546,731
|
|
MARA Holdings, Inc.(b)(c)
|
|
60,705
|
976,136
|
|
OSI Systems, Inc.(b)(c)
|
|
2,514
|
555,619
|
|
Semtech Corp.(b)(c)
|
|
5,674
|
289,941
|
|
SPS Commerce, Inc.(b)
|
|
1,684
|
183,329
|
|
|
|
|
9,609,317
|
|
Materials-2.91%
|
|||
|
Century Aluminum Co.(b)
|
|
37,727
|
799,058
|
|
Hawkins, Inc.(c)
|
|
6,275
|
1,024,582
|
|
Sylvamo Corp.
|
|
8,896
|
409,839
|
|
Warrior Met Coal, Inc.(c)
|
|
12,393
|
636,752
|
|
|
|
|
2,870,231
|
|
Real Estate-3.97%
|
|||
|
Curbline Properties Corp.
|
|
13,371
|
295,499
|
|
DiamondRock Hospitality Co.
|
|
95,306
|
735,762
|
|
Essential Properties Realty Trust, Inc.
|
|
12,279
|
374,387
|
|
NexPoint Residential Trust, Inc.
|
|
8,587
|
267,743
|
|
Outfront Media, Inc.(c)
|
|
20,770
|
364,098
|
|
|
Shares
|
Value
|
|
|
Real Estate-(continued)
|
|||
|
Ryman Hospitality Properties, Inc.
|
|
6,718
|
$638,613
|
|
Sunstone Hotel Investors, Inc.
|
|
65,139
|
569,966
|
|
Xenia Hotels & Resorts, Inc.
|
|
53,164
|
675,715
|
|
|
|
|
3,921,783
|
|
Total Common Stocks & Other Equity Interests
(Cost $87,942,898)
|
98,660,490
|
||
|
Money Market Funds-0.07%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(f)(g)
(Cost $71,454)
|
|
71,454
|
71,454
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.02%
(Cost $88,014,352)
|
98,731,944
|
||
|
Investments Purchased with Cash Collateral from Securities
on Loan
|
|||
|
Money Market Funds-24.31%
|
|||
|
Invesco Private Government Fund,
4.32%(f)(g)(h)
|
|
6,656,468
|
6,656,468
|
|
Invesco Private Prime Fund, 4.46%(f)(g)(h)
|
|
17,334,474
|
17,337,941
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $23,994,409)
|
23,994,409
|
||
|
TOTAL INVESTMENTS IN SECURITIES-124.33%
(Cost $112,008,761)
|
122,726,353
|
||
|
OTHER ASSETS LESS LIABILITIES-(24.33)%
|
(24,014,291
)
|
||
|
NET ASSETS-100.00%
|
$98,712,062
|
||
|
Investment Abbreviations:
|
|
|
Rts.
|
-Rights
|
|
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)
|
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 July 31, 2025
represented less than 1% of the Fund’s Net Assets.
|
|
(e)
|
Security valued using significant unobservable inputs (Level 3). See Note 1.
|
|
(f)
|
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
|
$36,638
|
$292,335
|
$(257,519
)
|
$-
|
$-
|
$71,454
|
$416
|
|
|
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
|
$9,081,744
|
$9,518,741
|
$(11,944,017
)
|
$-
|
$-
|
$6,656,468
|
$80,783
*
|
|
Invesco Private Prime Fund
|
23,635,923
|
21,898,381
|
(28,196,528
)
|
1,819
|
(1,654
)
|
17,337,941
|
217,777
*
|
|
Total
|
$32,754,305
|
$31,709,457
|
$(40,398,064
)
|
$1,819
|
$(1,654
)
|
$24,065,863
|
$298,976
|
|
*
|
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.
|
|
(g)
|
The rate shown is the 7-day SEC standardized yield as of July 31, 2025.
|
|
(h)
|
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-99.96%
|
|||
|
Communication Services-4.39%
|
|||
|
Angi, Inc.(b)(c)
|
|
109,255
|
$1,772,116
|
|
IAC, Inc.(b)(c)
|
|
37,774
|
1,484,518
|
|
Scholastic Corp.(c)
|
|
99,460
|
2,453,678
|
|
Shenandoah Telecommunications Co.(c)
|
|
77,013
|
1,130,551
|
|
TEGNA, Inc.
|
|
54,211
|
905,324
|
|
Telephone and Data Systems, Inc.(c)
|
|
31,364
|
1,224,451
|
|
|
|
|
8,970,638
|
|
Consumer Discretionary-26.13%
|
|||
|
Academy Sports & Outdoors, Inc.(c)
|
|
18,142
|
921,432
|
|
Adient PLC(b)
|
|
174,845
|
3,748,677
|
|
Advance Auto Parts, Inc.(c)
|
|
64,831
|
3,440,581
|
|
American Axle & Manufacturing Holdings,
Inc.(b)(c)
|
|
362,854
|
1,614,700
|
|
Asbury Automotive Group, Inc.(b)(c)
|
|
9,050
|
2,010,186
|
|
Bloomin’ Brands, Inc.
|
|
105,211
|
958,472
|
|
BorgWarner, Inc.
|
|
66,960
|
2,464,128
|
|
Caleres, Inc.(c)
|
|
70,180
|
963,571
|
|
Century Communities, Inc.
|
|
17,304
|
974,042
|
|
Cracker Barrel Old Country Store, Inc.(c)
|
|
28,865
|
1,789,630
|
|
Dana, Inc.
|
|
217,237
|
3,458,413
|
|
Foot Locker, Inc.(b)(c)
|
|
132,684
|
3,322,407
|
|
Fox Factory Holding Corp.(b)
|
|
26,228
|
796,544
|
|
G-III Apparel Group Ltd.(b)
|
|
74,630
|
1,761,268
|
|
Guess?, Inc.(c)
|
|
134,970
|
1,754,610
|
|
Helen of Troy Ltd.(b)
|
|
16,929
|
372,100
|
|
Kohl’s Corp.(c)
|
|
249,381
|
2,703,290
|
|
LGI Homes, Inc.(b)(c)
|
|
6,479
|
345,136
|
|
MarineMax, Inc.(b)(c)
|
|
109,040
|
2,473,027
|
|
Meritage Homes Corp.
|
|
7,091
|
477,508
|
|
Monro, Inc.(c)
|
|
39,004
|
549,761
|
|
National Vision Holdings, Inc.(b)
|
|
150,222
|
3,644,386
|
|
Newell Brands, Inc.
|
|
106,539
|
597,684
|
|
PENN Entertainment, Inc.(b)
|
|
74,055
|
1,337,433
|
|
Sally Beauty Holdings, Inc.(b)(c)
|
|
121,162
|
1,180,118
|
|
Shoe Carnival, Inc.
|
|
25,959
|
531,121
|
|
Signet Jewelers Ltd.
|
|
7,446
|
588,979
|
|
Sonic Automotive, Inc., Class A
|
|
28,427
|
2,056,694
|
|
Standard Motor Products, Inc.(c)
|
|
54,080
|
1,641,869
|
|
Topgolf Callaway Brands Corp.(b)(c)
|
|
393,194
|
3,637,045
|
|
Upbound Group, Inc.
|
|
29,529
|
609,331
|
|
Winnebago Industries, Inc.(c)
|
|
21,959
|
652,622
|
|
|
|
|
53,376,765
|
|
Consumer Staples-10.78%
|
|||
|
Andersons, Inc. (The)
|
|
56,532
|
2,030,629
|
|
B&G Foods, Inc.(c)
|
|
447,551
|
1,834,959
|
|
Central Garden & Pet Co.(b)(c)
|
|
4,135
|
161,348
|
|
Central Garden & Pet Co., Class A(b)
|
|
22,567
|
801,580
|
|
Edgewell Personal Care Co.(c)
|
|
32,603
|
822,574
|
|
Fresh Del Monte Produce, Inc.
|
|
85,981
|
3,232,026
|
|
Grocery Outlet Holding Corp.(b)
|
|
66,380
|
874,225
|
|
MGP Ingredients, Inc.
|
|
17,184
|
485,963
|
|
PriceSmart, Inc.
|
|
8,220
|
883,650
|
|
SpartanNash Co.
|
|
171,955
|
4,563,686
|
|
TreeHouse Foods, Inc.(b)(c)
|
|
44,729
|
859,691
|
|
United Natural Foods, Inc.(b)
|
|
101,844
|
2,814,968
|
|
Universal Corp.
|
|
36,749
|
2,001,718
|
|
USANA Health Sciences, Inc.(b)
|
|
22,120
|
650,107
|
|
|
|
|
22,017,124
|
|
|
Shares
|
Value
|
|
|
Energy-11.81%
|
|||
|
Bristow Group, Inc.(b)
|
|
28,662
|
$990,845
|
|
Crescent Energy Co., Class A
|
|
136,666
|
1,262,794
|
|
CVR Energy, Inc.(c)
|
|
84,196
|
2,254,769
|
|
Dorian LPG Ltd.
|
|
34,586
|
995,731
|
|
Innovex International, Inc.(b)(c)
|
|
114,278
|
1,876,445
|
|
Par Pacific Holdings, Inc.(b)
|
|
208,678
|
6,548,315
|
|
Patterson-UTI Energy, Inc.
|
|
171,468
|
1,013,376
|
|
Peabody Energy Corp.(c)
|
|
92,438
|
1,492,874
|
|
ProPetro Holding Corp.(b)
|
|
126,683
|
679,021
|
|
REX American Resources Corp.(b)
|
|
15,007
|
784,566
|
|
Talos Energy, Inc.(b)
|
|
182,898
|
1,563,778
|
|
Vital Energy, Inc.(b)(c)
|
|
79,209
|
1,480,416
|
|
World Kinect Corp.(c)
|
|
116,597
|
3,179,600
|
|
|
|
|
24,122,530
|
|
Financials-16.35%
|
|||
|
Apollo Commercial Real Estate Finance, Inc.
|
|
88,001
|
846,570
|
|
ARMOUR Residential REIT, Inc.
|
|
50,612
|
825,482
|
|
Bread Financial Holdings, Inc.
|
|
17,959
|
1,100,887
|
|
Brookline Bancorp, Inc.
|
|
58,509
|
603,813
|
|
Capitol Federal Financial, Inc.
|
|
118,490
|
713,310
|
|
Eagle Bancorp, Inc.(c)
|
|
35,011
|
563,327
|
|
Ellington Financial, Inc.
|
|
64,708
|
821,145
|
|
Encore Capital Group, Inc.(b)(c)
|
|
13,656
|
503,633
|
|
EZCORP, Inc., Class A(b)(c)
|
|
166,473
|
2,383,893
|
|
Franklin BSP Realty Trust, Inc.
|
|
55,877
|
564,358
|
|
Genworth Financial, Inc., Class A(b)
|
|
380,533
|
2,990,989
|
|
Hilltop Holdings, Inc.
|
|
27,384
|
810,566
|
|
Hope Bancorp, Inc.
|
|
84,724
|
846,393
|
|
Horace Mann Educators Corp.
|
|
15,478
|
658,279
|
|
Jackson Financial, Inc., Class A
|
|
11,674
|
1,022,175
|
|
KKR Real Estate Finance Trust, Inc.
|
|
64,004
|
578,596
|
|
Lincoln National Corp.
|
|
85,355
|
3,252,879
|
|
Navient Corp.(c)
|
|
99,994
|
1,293,922
|
|
New York Mortgage Trust, Inc.
|
|
183,693
|
1,162,777
|
|
PennyMac Mortgage Investment Trust(c)
|
|
94,018
|
1,108,472
|
|
PRA Group, Inc.(b)
|
|
97,495
|
1,481,924
|
|
ProAssurance Corp.(b)
|
|
130,049
|
3,089,964
|
|
Ready Capital Corp.(c)
|
|
115,685
|
487,034
|
|
Redwood Trust, Inc.(c)
|
|
141,489
|
772,530
|
|
Renasant Corp.
|
|
21,978
|
805,274
|
|
Simmons First National Corp., Class A
|
|
30,356
|
581,925
|
|
SiriusPoint Ltd. (Sweden)(b)
|
|
76,938
|
1,508,754
|
|
Stewart Information Services Corp.
|
|
8,865
|
575,605
|
|
United Fire Group, Inc., (Acquired
12/15/2021 - 07/23/2025;
Cost $1,311,865)(d)
|
|
54,768
|
1,454,090
|
|
|
|
|
33,408,566
|
|
Health Care-4.79%
|
|||
|
AdaptHealth Corp.(b)(c)
|
|
232,152
|
2,082,403
|
|
AMN Healthcare Services, Inc.(b)
|
|
101,163
|
1,855,329
|
|
Avanos Medical, Inc.(b)
|
|
86,829
|
969,880
|
|
Enovis Corp.(b)(c)
|
|
31,786
|
851,865
|
|
Fortrea Holdings, Inc.(b)
|
|
50,066
|
287,379
|
|
Neogen Corp.(b)(c)
|
|
71,943
|
334,535
|
|
Owens & Minor, Inc.(b)(c)
|
|
167,927
|
1,163,734
|
|
Pacira BioSciences, Inc.(b)(c)
|
|
32,130
|
677,622
|
|
Select Medical Holdings Corp.
|
|
106,420
|
1,573,952
|
|
|
|
|
9,796,699
|
|
Industrials-10.11%
|
|||
|
ABM Industries, Inc.
|
|
23,597
|
1,088,529
|
|
|
Shares
|
Value
|
|
|
Industrials-(continued)
|
|||
|
Air Lease Corp., Class A
|
|
28,105
|
$1,557,017
|
|
Allegiant Travel Co.(b)(c)
|
|
16,567
|
855,520
|
|
American Woodmark Corp.(b)
|
|
9,297
|
489,115
|
|
ArcBest Corp.
|
|
6,525
|
477,173
|
|
Astec Industries, Inc.
|
|
24,242
|
961,438
|
|
Deluxe Corp.
|
|
57,361
|
923,512
|
|
Enviri Corp.(b)(c)
|
|
298,586
|
2,687,274
|
|
Healthcare Services Group, Inc.(b)
|
|
83,777
|
1,089,939
|
|
Heartland Express, Inc.
|
|
61,818
|
483,417
|
|
JetBlue Airways Corp.(b)(c)
|
|
332,859
|
1,477,894
|
|
MasterBrand, Inc.(b)(c)
|
|
37,527
|
413,923
|
|
Matthews International Corp., Class A(c)
|
|
25,006
|
587,391
|
|
MillerKnoll, Inc.(c)
|
|
61,420
|
1,165,751
|
|
Resideo Technologies, Inc.(b)(c)
|
|
43,206
|
1,179,524
|
|
Sun Country Airlines Holdings, Inc.(b)
|
|
63,018
|
730,378
|
|
Sunrun, Inc.(b)(c)
|
|
124,261
|
1,274,918
|
|
Titan International, Inc.(b)
|
|
379,771
|
3,212,863
|
|
|
|
|
20,655,576
|
|
Information Technology-5.30%
|
|||
|
Corsair Gaming, Inc.(b)(c)
|
|
135,508
|
1,227,702
|
|
DXC Technology Co.(b)
|
|
107,780
|
1,466,886
|
|
Insight Enterprises, Inc.(b)
|
|
3,833
|
454,517
|
|
ScanSource, Inc.(b)
|
|
38,912
|
1,511,342
|
|
Viasat, Inc.(b)
|
|
303,077
|
4,979,555
|
|
Vishay Intertechnology, Inc.(c)
|
|
52,125
|
854,329
|
|
Xerox Holdings Corp.(c)
|
|
82,874
|
335,640
|
|
|
|
|
10,829,971
|
|
Materials-5.96%
|
|||
|
AdvanSix, Inc.
|
|
51,523
|
1,036,643
|
|
Celanese Corp.(c)
|
|
31,742
|
1,657,885
|
|
Chemours Co. (The)(c)
|
|
42,359
|
507,461
|
|
FMC Corp.
|
|
17,648
|
688,978
|
|
Kaiser Aluminum Corp.
|
|
16,945
|
1,310,018
|
|
Koppers Holdings, Inc.
|
|
59,545
|
1,956,649
|
|
Metallus, Inc.(b)(c)
|
|
100,363
|
1,585,735
|
|
O-I Glass, Inc.(b)(c)
|
|
164,949
|
2,145,986
|
|
Stepan Co.
|
|
10,192
|
517,448
|
|
SunCoke Energy, Inc.
|
|
103,578
|
765,441
|
|
|
|
|
12,172,244
|
|
Real Estate-3.98%
|
|||
|
Cushman & Wakefield PLC(b)
|
|
105,545
|
1,286,594
|
|
|
Shares
|
Value
|
|
|
Real Estate-(continued)
|
|||
|
Global Net Lease, Inc.
|
|
134,607
|
$940,903
|
|
JBG SMITH Properties, (Acquired
03/17/2023 - 07/23/2025;
Cost $823,005)(c)(d)
|
|
56,074
|
1,187,647
|
|
Millrose Properties, Inc.
|
|
92,257
|
2,766,787
|
|
Safehold, Inc.(c)
|
|
62,803
|
878,614
|
|
SITE Centers Corp., (Acquired 12/20/2024 -
04/16/2025; Cost $1,542,161)(d)
|
|
100,091
|
1,077,980
|
|
|
|
|
8,138,525
|
|
Utilities-0.36%
|
|||
|
MDU Resources Group, Inc.
|
|
42,859
|
739,318
|
|
Total Common Stocks & Other Equity Interests
(Cost $214,126,546)
|
204,227,956
|
||
|
Money Market Funds-0.01%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(e)(f)
(Cost $20,358)
|
|
20,358
|
20,358
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.97%
(Cost $214,146,904)
|
204,248,314
|
||
|
Investments Purchased with Cash Collateral from Securities
on Loan
|
|||
|
Money Market Funds-31.89%
|
|||
|
Invesco Private Government Fund,
4.32%(e)(f)(g)
|
|
17,966,690
|
17,966,690
|
|
Invesco Private Prime Fund, 4.46%(e)(f)(g)
|
|
47,173,710
|
47,183,145
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $65,149,835)
|
65,149,835
|
||
|
TOTAL INVESTMENTS IN SECURITIES-131.86%
(Cost $279,296,739)
|
269,398,149
|
||
|
OTHER ASSETS LESS LIABILITIES-(31.86)%
|
(65,095,723
)
|
||
|
NET ASSETS-100.00%
|
$204,302,426
|
||
|
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)
|
Non-income producing security.
|
|
(c)
|
All or a portion of this security was out on loan at July 31, 2025.
|
|
(d)
|
Restricted security. The aggregate value of these securities at July 31, 2025 was $3,719,717, which represented 1.82% of the Fund’s Net Assets.
|
|
(e)
|
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
|
$161,678
|
$955,044
|
$(1,096,364
)
|
$-
|
$-
|
$20,358
|
$719
|
|
Investments Purchased with
Cash Collateral from Securities
on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund
|
15,876,033
|
21,983,170
|
(19,892,513
)
|
-
|
-
|
17,966,690
|
165,031
*
|
|
Invesco Private Prime Fund
|
41,336,856
|
47,835,142
|
(41,988,912
)
|
2,546
|
(2,487
)
|
47,183,145
|
439,778
*
|
|
Total
|
$57,374,567
|
$70,773,356
|
$(62,977,789
)
|
$2,546
|
$(2,487
)
|
$65,170,193
|
$605,528
|
|
*
|
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 July 31, 2025.
|
|
(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.
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Invesco S&P 500® Pure Growth ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$1,739,667,597
|
$-
|
$-
|
$1,739,667,597
|
|
Money Market Funds
|
1,535,003
|
131,647,396
|
-
|
133,182,399
|
|
Total Investments
|
$1,741,202,600
|
$131,647,396
|
$-
|
$1,872,849,996
|
|
Invesco S&P 500® Pure Value ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$1,334,618,561
|
$-
|
$-
|
$1,334,618,561
|
|
Money Market Funds
|
126,482
|
28,625,455
|
-
|
28,751,937
|
|
Total Investments
|
$1,334,745,043
|
$28,625,455
|
$-
|
$1,363,370,498
|
|
Invesco S&P MidCap 400® Pure Growth ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$298,613,908
|
$-
|
$-
|
$298,613,908
|
|
Money Market Funds
|
12,060
|
51,012,963
|
-
|
51,025,023
|
|
Total Investments
|
$298,625,968
|
$51,012,963
|
$-
|
$349,638,931
|
|
Invesco S&P MidCap 400® Pure Value ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$256,767,473
|
$-
|
$-
|
$256,767,473
|
|
Money Market Funds
|
197,553
|
52,935,112
|
-
|
53,132,665
|
|
Total Investments
|
$256,965,026
|
$52,935,112
|
$-
|
$309,900,138
|
|
Invesco S&P SmallCap 600® Pure Growth ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$98,660,490
|
$-
|
$0
|
$98,660,490
|
|
Money Market Funds
|
71,454
|
23,994,409
|
-
|
24,065,863
|
|
Total Investments
|
$98,731,944
|
$23,994,409
|
$0
|
$122,726,353
|