|
|
Shares
|
Value
|
|
|
Common Stocks & Other Equity Interests–97.41%
|
|||
|
Australia–3.28%
|
|||
|
ALS Ltd.
|
2,445,067
|
$28,425,067
|
|
|
Cochlear Ltd.
|
123,993
|
25,313,542
|
|
|
Computershare Ltd.
|
1,527,223
|
41,111,928
|
|
|
Woolworths Group Ltd.
|
1,526,445
|
30,816,021
|
|
|
|
|
|
125,666,558
|
|
Austria–0.79%
|
|||
|
ANDRITZ AG
|
437,399
|
30,438,996
|
|
|
Brazil–4.96%
|
|||
|
Itausa S.A., Preference Shares
|
22,374,900
|
41,356,933
|
|
|
Odontoprev S.A.
|
15,019,140
|
32,213,280
|
|
|
Raia Drogasil S.A.
|
15,879,800
|
38,199,660
|
|
|
TOTVS S.A.
|
5,017,937
|
39,080,325
|
|
|
WEG S.A.
|
5,975,200
|
39,599,552
|
|
|
|
|
|
190,449,750
|
|
Canada–2.60%
|
|||
|
CCL Industries, Inc., Class B
|
862,477
|
48,209,327
|
|
|
Metro, Inc.
|
401,176
|
30,675,950
|
|
|
Sprott, Inc.
|
308,663
|
20,791,540
|
|
|
|
|
|
99,676,817
|
|
China–1.77%
|
|||
|
Chow Tai Fook Jewellery Group Ltd.
|
23,187,400
|
38,725,070
|
|
|
Tingyi Cayman Islands Holding Corp.
|
19,700,000
|
29,121,780
|
|
|
|
|
|
67,846,850
|
|
Denmark–2.10%
|
|||
|
ChemoMetec A/S
|
470,837
|
36,339,773
|
|
|
Pandora A/S
|
268,888
|
44,392,219
|
|
|
|
|
|
80,731,992
|
|
Finland–1.09%
|
|||
|
Elisa OYJ
|
521,476
|
26,831,330
|
|
|
Wartsila OYJ Abp
|
538,426
|
14,875,849
|
|
|
|
|
|
41,707,179
|
|
France–5.28%
|
|||
|
Alten S.A.
|
275,918
|
22,425,289
|
|
|
Gaztransport Et Technigaz S.A.
|
168,092
|
31,615,638
|
|
|
Interparfums S.A.
|
577,836
|
21,218,500
|
|
|
Lectra
|
695,649
|
19,350,462
|
|
|
Legrand S.A.
|
367,915
|
54,343,515
|
|
|
Neurones
|
659,260
|
32,519,979
|
|
|
Thermador Groupe
|
115,163
|
10,749,211
|
|
|
Vetoquinol S.A.
|
115,582
|
10,165,522
|
|
|
|
|
|
202,388,116
|
|
Germany–6.63%
|
|||
|
Amadeus Fire AG
|
138,910
|
10,605,592
|
|
|
Atoss Software SE
|
109,591
|
14,699,634
|
|
|
Carl Zeiss Meditec AG, BR
|
1,542,624
|
85,063,168
|
|
|
CTS Eventim AG & Co. KGaA
|
379,612
|
42,867,445
|
|
|
FUCHS SE, Preference Shares
|
857,479
|
39,238,468
|
|
|
|
Shares
|
Value
|
|
|
Germany–(continued)
|
|||
|
Knorr-Bremse AG
|
618,709
|
$61,750,520
|
|
|
|
|
|
254,224,827
|
|
Hong Kong–0.92%
|
|||
|
HKT Trust & HKT Ltd.
|
22,443,000
|
35,338,239
|
|
|
India–0.63%
|
|||
|
AIA Engineering Ltd.
|
215,966
|
7,714,240
|
|
|
Triveni Turbine Ltd.
|
2,427,827
|
16,500,778
|
|
|
|
|
|
24,215,018
|
|
Indonesia–2.59%
|
|||
|
PT Indofood CBP Sukses Makmur Tbk
|
30,054,100
|
17,853,004
|
|
|
PT Selamat Sempurna Tbk
|
110,307,000
|
13,285,546
|
|
|
PT Telkom Indonesia (Persero) Tbk
|
305,046,800
|
53,564,674
|
|
|
PT United Tractors Tbk
|
9,900,600
|
14,507,534
|
|
|
|
|
|
99,210,758
|
|
Ireland–1.05%
|
|||
|
AIB Group PLC
|
5,087,967
|
40,137,190
|
|
|
Italy–2.95%
|
|||
|
DiaSorin S.p.A.
|
436,091
|
42,634,436
|
|
|
Interpump Group S.p.A.
|
586,350
|
24,056,895
|
|
|
Recordati Industria Chimica e
Farmaceutica S.p.A.
|
812,261
|
46,586,159
|
|
|
|
|
|
113,277,490
|
|
Japan–24.32%
|
|||
|
As One Corp.
|
836,452
|
13,144,632
|
|
|
Azbil Corp.
|
7,422,700
|
69,360,691
|
|
|
Disco Corp.
|
236,900
|
70,010,220
|
|
|
Fujimi, Inc.
|
1,655,700
|
24,689,227
|
|
|
Fukui Computer Holdings, Inc.
|
584,900
|
11,812,440
|
|
|
Funai Soken Holdings, Inc.
|
753,400
|
11,858,661
|
|
|
Japan Elevator Service Holdings Co. Ltd.
|
1,123,900
|
30,003,087
|
|
|
JCU Corp.
|
486,800
|
11,450,161
|
|
|
Katitas Co. Ltd.
|
2,234,200
|
37,463,539
|
|
|
Kikkoman Corp.
|
2,622,300
|
23,036,799
|
|
|
Medikit Co. Ltd.
|
229,700
|
3,895,645
|
|
|
MEITEC Group Holdings, Inc.
|
1,807,458
|
37,807,689
|
|
|
MISUMI Group, Inc.
|
3,679,100
|
52,979,151
|
|
|
MonotaRO Co. Ltd.
|
1,072,120
|
19,091,151
|
|
|
NOF Corp.
|
1,434,300
|
28,549,615
|
|
|
Nomura Research Institute Ltd.
|
536,100
|
21,213,699
|
|
|
NSD Co. Ltd.
|
795,394
|
19,024,312
|
|
|
OBIC Business Consultants Co. Ltd.
|
465,100
|
26,824,612
|
|
|
OBIC Co. Ltd.
|
1,318,200
|
46,931,309
|
|
|
SCSK Corp.
|
1,648,500
|
51,292,914
|
|
|
Seria Co. Ltd.
|
1,953,200
|
35,971,244
|
|
|
Shimano, Inc.
|
289,400
|
31,659,168
|
|
|
SHO-BOND Holdings Co. Ltd.
|
1,208,400
|
38,584,115
|
|
|
SMS Co. Ltd.
|
2,337,600
|
23,401,486
|
|
|
Sysmex Corp.
|
3,287,200
|
53,403,362
|
|
|
TechnoPro Holdings, Inc.
|
882,300
|
27,942,602
|
|
|
TKC Corp.
|
779,518
|
23,415,209
|
|
|
Toyo Suisan Kaisha Ltd.
|
779,400
|
49,794,773
|
|
|
|
Shares
|
Value
|
|
|
Japan–(continued)
|
|||
|
USS Co. Ltd.
|
3,522,496
|
$38,285,612
|
|
|
|
|
|
932,897,125
|
|
Mexico–1.19%
|
|||
|
Gruma S.A.B. de C.V., Class B
|
2,635,850
|
45,554,865
|
|
|
Netherlands–0.93%
|
|||
|
IMCD N.V.
|
325,108
|
35,635,311
|
|
|
South Africa–0.21%
|
|||
|
Hudaco Industries Ltd.
|
745,344
|
7,939,362
|
|
|
South Korea–2.18%
|
|||
|
Coway Co. Ltd.
|
545,094
|
42,514,966
|
|
|
NICE Information Service Co. Ltd.
|
1,178,465
|
13,819,384
|
|
|
Park Systems Corp.
|
137,820
|
27,205,929
|
|
|
|
|
|
83,540,279
|
|
Sweden–6.19%
|
|||
|
Addtech AB, Class B
|
894,902
|
30,084,978
|
|
|
Cellavision AB
|
270,000
|
4,830,735
|
|
|
Epiroc AB, Class A
|
1,388,767
|
28,265,786
|
|
|
Hexpol AB
|
2,229,869
|
19,201,376
|
|
|
Karnov Group AB(a)
|
2,188,148
|
25,931,649
|
|
|
Loomis AB
|
738,044
|
29,181,742
|
|
|
MIPS AB(b)
|
390,998
|
16,571,019
|
|
|
Mycronic AB
|
1,681,358
|
36,483,581
|
|
|
Svenska Handelsbanken AB, Class A
|
3,844,713
|
46,845,429
|
|
|
|
|
|
237,396,295
|
|
Switzerland–7.43%
|
|||
|
Belimo Holding AG
|
28,594
|
33,275,633
|
|
|
BKW AG
|
114,124
|
25,480,755
|
|
|
Bossard Holding AG, Class A
|
52,547
|
11,136,583
|
|
|
Cembra Money Bank AG
|
232,762
|
26,122,928
|
|
|
Kardex Holding AG
|
38,532
|
14,837,403
|
|
|
Partners Group Holding AG
|
71,485
|
96,097,035
|
|
|
Tecan Group AG, Class R(a)
|
102,621
|
20,318,098
|
|
|
VZ Holding AG
|
272,001
|
57,568,779
|
|
|
|
|
|
284,837,214
|
|
Taiwan–1.88%
|
|||
|
Advantech Co. Ltd.
|
3,242,726
|
36,071,569
|
|
|
Nien Made Enterprise Co. Ltd.
|
2,521,000
|
35,986,546
|
|
|
|
|
|
72,058,115
|
|
United Kingdom–14.17%
|
|||
|
Bunzl PLC
|
1,420,856
|
42,167,396
|
|
|
|
Shares
|
Value
|
|
|
United Kingdom–(continued)
|
|||
|
Diploma PLC
|
563,688
|
$39,903,427
|
|
|
Greggs PLC
|
1,392,587
|
28,958,132
|
|
|
Halma PLC
|
1,098,948
|
47,022,333
|
|
|
Hill & Smith PLC
|
1,253,918
|
33,748,869
|
|
|
Howden Joinery Group PLC
|
3,705,642
|
42,898,616
|
|
|
IMI PLC
|
1,779,426
|
51,985,804
|
|
|
Intertek Group PLC
|
486,122
|
31,607,643
|
|
|
Rathbones Group PLC
|
868,595
|
21,897,369
|
|
|
Rightmove PLC
|
2,988,888
|
32,254,549
|
|
|
Rotork PLC
|
9,605,034
|
41,197,987
|
|
|
Spirax Group PLC
|
782,697
|
65,408,930
|
|
|
Weir Group PLC (The)
|
1,831,984
|
64,359,225
|
|
|
|
|
|
543,410,280
|
|
United States–2.27%
|
|||
|
ICON PLC(a)
|
316,551
|
53,557,264
|
|
|
PriceSmart, Inc.(c)
|
312,343
|
33,576,872
|
|
|
|
|
|
87,134,136
|
|
Total Common Stocks & Other Equity Interests
(Cost $2,851,435,527)
|
3,735,712,762
|
||
|
Money Market Funds–2.57%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(d)(e)
|
34,526,525
|
34,526,525
|
|
|
Invesco Treasury Portfolio, Institutional
Class, 4.23%(d)(e)
|
64,120,690
|
64,120,690
|
|
|
Total Money Market Funds (Cost $98,647,215)
|
98,647,215
|
||
|
TOTAL INVESTMENTS IN SECURITIES
(excluding Investments purchased
with cash collateral from
securities on loan)-99.98%
(Cost $2,950,082,742)
|
|
|
3,834,359,977
|
|
Investments Purchased with Cash Collateral from
Securities on Loan
|
|||
|
Money Market Funds–0.03%
|
|||
|
Invesco Private Government Fund,
4.32%(d)(e)(f)
|
272,835
|
272,835
|
|
|
Invesco Private Prime Fund,
4.46%(d)(e)(f)
|
710,663
|
710,805
|
|
|
Total Investments Purchased with Cash Collateral
from Securities on Loan (Cost $983,640)
|
983,640
|
||
|
TOTAL INVESTMENTS IN SECURITIES—100.01%
(Cost $2,951,066,382)
|
3,835,343,617
|
||
|
OTHER ASSETS LESS LIABILITIES–(0.01)%
|
(363,171
)
|
||
|
NET ASSETS–100.00%
|
$3,834,980,446
|
||
|
BR
|
– Bearer Shares
|
|
(a)
|
Non-income producing security.
|
|
(b)
|
Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be
resold pursuant to an exemption from registration under the 1933 Act, typically to
qualified institutional buyers. The value of this security at July 31, 2025
represented less than 1% of the Fund’s Net Assets.
|
|
(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 nine months ended July 31, 2025.
|
|
|
Value
October 31, 2024
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Realized
Gain
(Loss)
|
Value
July 31, 2025
|
Dividend Income
|
|
Investments in Affiliated Money
Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government & Agency
Portfolio, Institutional Class
|
$15,036,809
|
$385,820,357
|
$(366,330,641)
|
$-
|
$-
|
$34,526,525
|
$923,700
|
|
Invesco Treasury Portfolio, Institutional
Class
|
27,925,503
|
716,523,519
|
(680,328,332)
|
-
|
-
|
64,120,690
|
1,706,504
|
|
Investments Purchased with Cash
Collateral from Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund
|
14,492,353
|
53,088,354
|
(67,307,872)
|
-
|
-
|
272,835
|
193,086*
|
|
Invesco Private Prime Fund
|
37,736,196
|
123,708,690
|
(160,731,185)
|
202
|
(3,098)
|
710,805
|
515,172*
|
|
Investments in Other Affiliates:
|
|
|
|
|
|
|
|
|
Amadeus Fire AG**
|
27,096,687
|
-
|
(16,052,890)
|
4,273,710
|
(4,711,915)
|
10,605,592
|
785,790
|
|
ChemoMetec A/S**
|
55,427,724
|
-
|
(36,201,401)
|
1,917,678
|
15,195,772
|
36,339,773
|
-
|
|
Fabasoft AG
|
18,856,280
|
-
|
(20,687,876)
|
10,722,257
|
(8,890,661)
|
-
|
-
|
|
Fukui Computer Holdings, Inc.**
|
22,723,421
|
-
|
(13,998,554)
|
8,097,904
|
(5,010,331)
|
11,812,440
|
368,774
|
|
Karnov Group AB**
|
55,403,705
|
-
|
(44,222,672)
|
(370,098)
|
15,120,714
|
25,931,649
|
-
|
|
Restore PLC
|
28,887,925
|
-
|
(26,908,884)
|
1,375,324
|
(3,354,365)
|
-
|
-
|
|
STRATEC SE
|
31,156,562
|
-
|
(24,200,602)
|
8,678,797
|
(15,634,757)
|
-
|
-
|
|
Total
|
$334,743,165
|
$1,279,140,920
|
$(1,456,970,909)
|
$34,695,774
|
$(7,288,641)
|
$184,320,309
|
$4,493,026
|
|
*
|
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.
|
|
**
|
At July 31, 2025, this security was no longer an affiliate of the Fund.
|
|
(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
|
|
Investments in Securities
|
|
|
|
|
|
Australia
|
$—
|
$125,666,558
|
$—
|
$125,666,558
|
|
Austria
|
—
|
30,438,996
|
—
|
30,438,996
|
|
Brazil
|
190,449,750
|
—
|
—
|
190,449,750
|
|
Canada
|
99,676,817
|
—
|
—
|
99,676,817
|
|
China
|
—
|
67,846,850
|
—
|
67,846,850
|
|
Denmark
|
—
|
80,731,992
|
—
|
80,731,992
|
|
Finland
|
—
|
41,707,179
|
—
|
41,707,179
|
|
France
|
—
|
202,388,116
|
—
|
202,388,116
|
|
Germany
|
—
|
254,224,827
|
—
|
254,224,827
|
|
Hong Kong
|
—
|
35,338,239
|
—
|
35,338,239
|
|
India
|
—
|
24,215,018
|
—
|
24,215,018
|
|
Indonesia
|
—
|
99,210,758
|
—
|
99,210,758
|
|
Ireland
|
—
|
40,137,190
|
—
|
40,137,190
|
|
Italy
|
—
|
113,277,490
|
—
|
113,277,490
|
|
Japan
|
—
|
932,897,125
|
—
|
932,897,125
|
|
Mexico
|
45,554,865
|
—
|
—
|
45,554,865
|
|
Netherlands
|
—
|
35,635,311
|
—
|
35,635,311
|
|
South Africa
|
—
|
7,939,362
|
—
|
7,939,362
|
|
South Korea
|
—
|
83,540,279
|
—
|
83,540,279
|
|
Sweden
|
—
|
237,396,295
|
—
|
237,396,295
|
|
Switzerland
|
—
|
284,837,214
|
—
|
284,837,214
|
|
Taiwan
|
—
|
72,058,115
|
—
|
72,058,115
|
|
United Kingdom
|
—
|
543,410,280
|
—
|
543,410,280
|
|
United States
|
87,134,136
|
—
|
—
|
87,134,136
|
|
Money Market Funds
|
98,647,215
|
983,640
|
—
|
99,630,855
|
|
Total Investments
|
$521,462,783
|
$3,313,880,834
|
$—
|
$3,835,343,617
|