|
|
Shares
|
Value
|
|
|
Common Stocks & Other Equity Interests-99.98%
|
|||
|
Communication Services-1.07%
|
|||
|
EchoStar Corp., Class A(b)(c)
|
|
21,229
|
$2,742,574
|
|
Sphere Entertainment Co.(b)(c)
|
|
12,422
|
1,720,199
|
|
|
|
|
4,462,773
|
|
Consumer Discretionary-7.14%
|
|||
|
Acushnet Holdings Corp.
|
|
14,993
|
1,331,079
|
|
American Public Education, Inc.(b)(c)
|
|
71,722
|
3,548,087
|
|
Cavco Industries, Inc.(b)
|
|
2,871
|
1,540,349
|
|
Citi Trends, Inc.(b)(c)
|
|
28,530
|
1,312,665
|
|
Dana, Inc.
|
|
46,249
|
1,637,677
|
|
Figs, Inc., Class A(b)
|
|
95,473
|
1,122,762
|
|
Five Below, Inc.(b)
|
|
5,825
|
1,324,372
|
|
Garrett Motion, Inc. (Switzerland)
|
|
77,624
|
2,542,962
|
|
GigaCloud Technology, Inc., Class A(b)(c)
|
|
31,702
|
1,142,540
|
|
Installed Building Products, Inc.
|
|
4,977
|
1,045,070
|
|
Laureate Education, Inc., Class A(b)
|
|
41,332
|
1,322,211
|
|
Lincoln Educational Services Corp.(b)
|
|
63,202
|
2,927,517
|
|
Lindblad Expeditions Holdings, Inc.(b)(c)
|
|
76,601
|
1,757,993
|
|
Patrick Industries, Inc.
|
|
12,244
|
1,108,327
|
|
Perdoceo Education Corp.
|
|
39,869
|
1,290,958
|
|
Rocky Brands, Inc.
|
|
33,514
|
1,295,651
|
|
Rush Street Interactive, Inc.(b)
|
|
81,637
|
2,068,682
|
|
Strattec Security Corp.(b)(c)
|
|
18,885
|
1,510,045
|
|
|
|
|
29,828,947
|
|
Consumer Staples-0.77%
|
|||
|
Seneca Foods Corp., Class A(b)
|
|
9,693
|
1,393,756
|
|
United Natural Foods, Inc.(b)
|
|
35,630
|
1,829,601
|
|
|
|
|
3,223,357
|
|
Energy-6.64%
|
|||
|
Amplify Energy Corp.(b)
|
|
213,674
|
989,311
|
|
Archrock, Inc.
|
|
79,379
|
2,658,403
|
|
Calumet, Inc.(b)(c)
|
|
47,048
|
1,668,793
|
|
CNX Resources Corp.(b)(c)
|
|
34,189
|
1,151,827
|
|
Delek US Holdings, Inc.(c)
|
|
30,344
|
1,350,611
|
|
Excelerate Energy, Inc., Class A(c)
|
|
38,684
|
1,274,251
|
|
Forum Energy Technologies, Inc.(b)(c)
|
|
25,825
|
1,296,931
|
|
Green Plains, Inc.(b)
|
|
87,311
|
1,368,163
|
|
Kodiak Gas Services, Inc.
|
|
23,711
|
1,585,080
|
|
Liberty Energy, Inc., Class A
|
|
42,944
|
1,256,541
|
|
Nabors Industries Ltd.(b)(c)
|
|
16,941
|
1,569,245
|
|
Natural Gas Services Group, Inc.
|
|
34,842
|
1,369,291
|
|
Oil States International, Inc.(b)
|
|
110,806
|
941,851
|
|
Par Pacific Holdings, Inc.(b)
|
|
26,037
|
1,462,238
|
|
Peabody Energy Corp.
|
|
36,109
|
976,748
|
|
PrimeEnergy Resources Corp.(b)(c)
|
|
8,969
|
1,476,477
|
|
ProPetro Holding Corp.(b)(c)
|
|
93,056
|
1,420,035
|
|
Sable Offshore Corp.(b)
|
|
78,814
|
1,154,625
|
|
Solaris Energy Infrastructure, Inc., Class B
|
|
20,738
|
1,442,121
|
|
Transocean Ltd.(b)
|
|
209,207
|
1,294,991
|
|
|
|
|
27,707,533
|
|
Financials-12.44%
|
|||
|
Acadian Asset Management, Inc.
|
|
41,854
|
3,026,463
|
|
Affiliated Managers Group, Inc.
|
|
4,857
|
1,470,942
|
|
Axos Financial, Inc.(b)
|
|
16,273
|
1,414,286
|
|
Customers Bancorp, Inc.(b)(c)
|
|
20,567
|
1,545,404
|
|
Enova International, Inc.(b)
|
|
18,973
|
3,064,329
|
|
Esquire Financial Holdings, Inc.(c)
|
|
15,983
|
1,756,372
|
|
EZCORP, Inc., Class A(b)(c)
|
|
71,556
|
2,235,409
|
|
Genworth Financial, Inc., Class A(b)(c)
|
|
169,271
|
1,448,960
|
|
Greenlight Capital Re Ltd., Class A(b)
|
|
83,167
|
1,303,227
|
|
|
Shares
|
Value
|
|
|
Financials-(continued)
|
|||
|
Hancock Whitney Corp.
|
|
22,052
|
$1,502,182
|
|
Heritage Insurance Holdings, Inc.(b)(c)
|
|
188,436
|
4,085,293
|
|
Jackson Financial, Inc., Class A
|
|
14,016
|
1,445,190
|
|
Lemonade, Inc.(b)(c)
|
|
22,134
|
1,283,772
|
|
Merchants Bancorp(c)
|
|
32,356
|
1,525,262
|
|
Mercury General Corp.
|
|
15,358
|
1,505,545
|
|
Metropolitan Bank Holding Corp.
|
|
16,761
|
1,500,445
|
|
Northeast Bank(c)
|
|
23,007
|
2,892,900
|
|
Oppenheimer Holdings, Inc., Class A
|
|
16,004
|
1,467,087
|
|
Pathward Financial, Inc.
|
|
15,120
|
1,243,469
|
|
Sezzle, Inc.(b)(c)
|
|
88,331
|
10,436,308
|
|
StoneX Group, Inc.(b)
|
|
20,998
|
2,380,123
|
|
Universal Insurance Holdings, Inc.
|
|
41,112
|
1,521,966
|
|
WisdomTree, Inc.
|
|
97,813
|
1,863,338
|
|
|
|
|
51,918,272
|
|
Health Care-26.44%
|
|||
|
4D Molecular Therapeutics, Inc.(b)(c)
|
|
150,628
|
1,492,723
|
|
Alumis, Inc.(b)(c)
|
|
131,252
|
2,835,043
|
|
Amneal Pharmaceuticals, Inc.(b)(c)
|
|
227,423
|
2,995,161
|
|
AnaptysBio, Inc.(b)
|
|
21,234
|
1,182,097
|
|
Annexon, Inc.(b)(c)
|
|
248,314
|
1,345,862
|
|
Arcus Biosciences, Inc.(b)(c)
|
|
60,245
|
1,526,608
|
|
Axogen, Inc.(b)
|
|
43,673
|
1,724,210
|
|
Axsome Therapeutics, Inc.(b)
|
|
11,464
|
2,688,079
|
|
BioAge Labs, Inc.(b)(c)
|
|
91,666
|
1,584,905
|
|
BrightSpring Health Services, Inc.(b)
|
|
38,981
|
2,404,348
|
|
Brookdale Senior Living, Inc.(b)
|
|
118,759
|
1,528,428
|
|
Capricor Therapeutics, Inc.(b)(c)
|
|
87,699
|
2,627,462
|
|
Celcuity, Inc.(b)(c)
|
|
35,800
|
4,757,104
|
|
CG Oncology, Inc.(b)(c)
|
|
20,647
|
1,286,102
|
|
Cogent Biosciences, Inc.(b)
|
|
76,985
|
2,691,396
|
|
Cullinan Therapeutics, Inc.(b)(c)
|
|
103,269
|
1,697,742
|
|
Design Therapeutics, Inc.(b)(c)
|
|
131,848
|
1,381,767
|
|
Dianthus Therapeutics, Inc.(b)(c)
|
|
18,989
|
1,766,167
|
|
Elanco Animal Health, Inc.(b)(c)
|
|
53,782
|
1,282,701
|
|
Enanta Pharmaceuticals, Inc.(b)(c)
|
|
103,976
|
1,368,324
|
|
Erasca, Inc.(b)(c)
|
|
284,151
|
3,648,499
|
|
Glaukos Corp.(b)
|
|
13,231
|
1,367,424
|
|
Ionis Pharmaceuticals, Inc.(b)
|
|
18,936
|
1,448,604
|
|
iRadimed Corp.(c)
|
|
13,551
|
1,228,534
|
|
Kodiak Sciences, Inc.(b)(c)
|
|
156,415
|
5,741,995
|
|
Kymera Therapeutics, Inc.(b)(c)
|
|
17,022
|
1,385,931
|
|
Kyverna Therapeutics, Inc.(b)(c)
|
|
166,813
|
1,421,247
|
|
LeMaitre Vascular, Inc.
|
|
12,424
|
1,175,932
|
|
Ligand Pharmaceuticals, Inc.(b)
|
|
6,447
|
1,495,446
|
|
Liquidia Corp.(b)(c)
|
|
37,763
|
2,336,019
|
|
Maze Therapeutics, Inc.(b)(c)
|
|
37,877
|
1,002,225
|
|
Mirum Pharmaceuticals, Inc.(b)
|
|
15,069
|
1,529,503
|
|
MoonLake Immunotherapeutics(b)(c)
|
|
81,086
|
1,555,229
|
|
National HealthCare Corp.
|
|
8,563
|
1,579,188
|
|
Nektar Therapeutics(b)(c)
|
|
43,187
|
2,801,973
|
|
Nuvalent, Inc., Class A(b)(c)
|
|
37,716
|
4,163,469
|
|
Oruka Therapeutics, Inc.(b)(c)
|
|
40,701
|
2,382,229
|
|
PACS Group, Inc.(b)(c)
|
|
46,716
|
1,712,141
|
|
Palvella Therapeutics, Inc.(b)(c)
|
|
15,586
|
1,846,318
|
|
Phibro Animal Health Corp., Class A
|
|
29,538
|
909,475
|
|
Praxis Precision Medicines, Inc.(b)
|
|
10,548
|
3,691,484
|
|
Protagonist Therapeutics, Inc.(b)
|
|
17,681
|
1,760,320
|
|
Relay Therapeutics, Inc.(b)(c)
|
|
144,631
|
2,032,066
|
|
SELLAS Life Sciences Group, Inc.(b)(c)
|
|
275,501
|
2,564,914
|
|
Septerna, Inc.(b)(c)
|
|
63,319
|
1,912,234
|
|
Solid Biosciences, Inc.(b)(c)
|
|
189,734
|
1,392,648
|
|
|
Shares
|
Value
|
|
|
Health Care-(continued)
|
|||
|
Spyre Therapeutics, Inc.(b)(c)
|
|
32,002
|
$2,352,147
|
|
Stoke Therapeutics, Inc.(b)(c)
|
|
49,181
|
1,520,185
|
|
Syndax Pharmaceuticals, Inc.(b)(c)
|
|
56,308
|
1,103,074
|
|
Tactile Systems Technology, Inc.(b)(c)
|
|
49,949
|
1,229,245
|
|
Tango Therapeutics, Inc.(b)(c)
|
|
250,147
|
5,498,231
|
|
Trevi Therapeutics, Inc.(b)(c)
|
|
142,806
|
2,019,277
|
|
Tyra Biosciences, Inc.(b)(c)
|
|
38,454
|
1,284,748
|
|
Zenas Biopharma, Inc.(b)(c)
|
|
59,781
|
1,099,970
|
|
|
|
|
110,358,153
|
|
Industrials-19.74%
|
|||
|
Allient, Inc.
|
|
22,436
|
1,776,034
|
|
Allison Transmission Holdings, Inc.
|
|
12,219
|
1,387,223
|
|
Amprius Technologies, Inc.(b)(c)
|
|
70,744
|
1,434,688
|
|
Argan, Inc.
|
|
2,961
|
1,975,046
|
|
Astronics Corp.(b)(c)
|
|
22,931
|
1,994,997
|
|
AZZ, Inc.
|
|
11,159
|
1,512,156
|
|
Blue Bird Corp.(b)(c)
|
|
24,488
|
1,659,552
|
|
Cimpress PLC (Ireland)(b)(c)
|
|
19,189
|
1,891,268
|
|
Construction Partners, Inc., Class A(b)
|
|
14,059
|
1,637,452
|
|
Covenant Logistics Group, Inc., Class A
|
|
55,684
|
2,210,655
|
|
DXP Enterprises, Inc.(b)(c)
|
|
15,994
|
2,320,090
|
|
EnerSys
|
|
8,010
|
1,826,040
|
|
Enpro, Inc.
|
|
5,523
|
1,695,506
|
|
ESCO Technologies, Inc.
|
|
5,187
|
1,514,085
|
|
Everus Construction Group, Inc.(b)
|
|
11,532
|
1,715,616
|
|
Flowserve Corp.(c)
|
|
18,277
|
1,380,096
|
|
Graham Corp.(b)(c)
|
|
45,746
|
4,581,004
|
|
Granite Construction, Inc.(c)
|
|
16,854
|
2,306,301
|
|
IES Holdings, Inc.(b)
|
|
2,972
|
2,016,056
|
|
Intuitive Machines, Inc.(b)(c)
|
|
71,472
|
3,132,618
|
|
Karman Holdings, Inc.(b)(c)
|
|
13,210
|
759,575
|
|
Matson, Inc.
|
|
8,714
|
1,579,848
|
|
Modine Manufacturing Co.(b)(c)
|
|
6,724
|
1,875,391
|
|
Moog, Inc., Class A
|
|
4,785
|
1,722,456
|
|
MYR Group, Inc.(b)
|
|
9,268
|
4,310,176
|
|
NPK International, Inc.(b)
|
|
96,057
|
1,394,748
|
|
Perma-Pipe International Holdings,
Inc.(b)(c)
|
|
46,842
|
1,437,581
|
|
Planet Labs PBC(b)(c)
|
|
172,801
|
8,837,043
|
|
Powell Industries, Inc.
|
|
7,761
|
2,207,384
|
|
Preformed Line Products Co.(c)
|
|
5,720
|
2,115,370
|
|
Primoris Services Corp.
|
|
16,545
|
2,081,030
|
|
Resolute Holdings Management, Inc.(b)(c)
|
|
11,572
|
1,376,837
|
|
Rush Enterprises, Inc., Class A(c)
|
|
23,170
|
1,606,376
|
|
Ryder System, Inc.(c)
|
|
7,347
|
1,842,995
|
|
Standex International Corp.
|
|
5,274
|
1,460,951
|
|
UL Solutions, Inc., Class A
|
|
16,204
|
1,612,298
|
|
Vicor Corp.(b)
|
|
7,825
|
2,620,123
|
|
VSE Corp.(c)
|
|
11,688
|
2,164,033
|
|
Watts Water Technologies, Inc., Class A
|
|
4,604
|
1,422,544
|
|
|
|
|
82,393,242
|
|
Information Technology-21.04%
|
|||
|
ADTRAN Holdings, Inc.(b)(c)
|
|
113,482
|
1,878,127
|
|
Advanced Energy Industries, Inc.
|
|
4,324
|
1,306,626
|
|
Aehr Test Systems(b)(c)
|
|
43,622
|
4,027,619
|
|
Arteris, Inc.(b)
|
|
87,390
|
3,141,670
|
|
Bel Fuse, Inc., Class B(c)
|
|
24,234
|
6,652,718
|
|
Belden, Inc.
|
|
11,823
|
1,242,361
|
|
Benchmark Electronics, Inc.
|
|
24,095
|
2,035,064
|
|
Clear Secure, Inc., Class A
|
|
27,706
|
1,536,298
|
|
Diebold Nixdorf, Inc.(b)(c)
|
|
18,921
|
1,535,250
|
|
|
Shares
|
Value
|
|
|
Information Technology-(continued)
|
|||
|
DigitalOcean Holdings, Inc.(b)(c)
|
|
15,951
|
$2,487,558
|
|
Fastly, Inc., Class A(b)(c)
|
|
58,889
|
1,046,163
|
|
FormFactor, Inc.(b)
|
|
14,349
|
1,787,742
|
|
Ichor Holdings Ltd.(b)
|
|
26,991
|
1,930,396
|
|
InterDigital, Inc.
|
|
6,432
|
1,621,443
|
|
Lightwave Logic, Inc.(b)(c)
|
|
192,046
|
2,085,620
|
|
Lumentum Holdings, Inc.(b)
|
|
5,422
|
4,635,593
|
|
MKS, Inc.
|
|
5,750
|
1,864,495
|
|
nLight, Inc.(b)
|
|
48,468
|
3,592,448
|
|
Ondas, Inc.(b)(c)
|
|
417,981
|
5,525,709
|
|
Plexus Corp.(b)
|
|
6,706
|
1,799,622
|
|
Sandisk Corp.(b)
|
|
7,287
|
12,351,319
|
|
Semtech Corp.(b)
|
|
18,902
|
2,883,311
|
|
T1 Energy, Inc. (Norway)(b)(c)
|
|
175,597
|
1,854,304
|
|
Terawulf, Inc.(b)(c)
|
|
126,501
|
3,233,366
|
|
TTM Technologies, Inc.(b)
|
|
30,529
|
5,303,498
|
|
Unusual Machines, Inc.(b)(c)
|
|
72,619
|
2,307,832
|
|
Viasat, Inc.(b)
|
|
58,493
|
4,715,706
|
|
Viavi Solutions, Inc.(b)
|
|
46,856
|
2,275,327
|
|
Vistance Networks, Inc.(b)(c)
|
|
93,258
|
1,163,860
|
|
|
|
|
87,821,045
|
|
Materials-3.21%
|
|||
|
Century Aluminum Co.(b)
|
|
44,755
|
2,952,487
|
|
Compass Minerals International, Inc.(b)
|
|
61,429
|
1,960,814
|
|
Element Solutions, Inc.
|
|
42,470
|
1,802,002
|
|
Flotek Industries, Inc.(b)(c)
|
|
119,581
|
2,385,641
|
|
Hawkins, Inc.
|
|
12,996
|
2,011,391
|
|
LSB Industries, Inc.(b)(c)
|
|
92,247
|
1,156,778
|
|
Rayonier Advanced Materials, Inc.(b)
|
|
121,942
|
1,115,769
|
|
|
|
|
13,384,882
|
|
Real Estate-1.17%
|
|||
|
Industrial Logistics Properties Trust
|
|
221,249
|
1,984,604
|
|
Outfront Media, Inc.
|
|
50,793
|
1,637,566
|
|
St. Joe Co. (The)
|
|
19,738
|
1,255,929
|
|
|
|
|
4,878,099
|
|
Utilities-0.32%
|
|||
|
Consolidated Water Co. Ltd.
|
|
44,102
|
1,330,998
|
|
Total Common Stocks & Other Equity Interests
(Cost $305,545,742)
|
417,307,301
|
||
|
Money Market Funds-0.06%
|
|||
|
Invesco Government & Agency Portfolio,
Institutional Class, 3.53%(d)(e)
(Cost $261,181)
|
|
261,181
|
261,181
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.04%
(Cost $305,806,923)
|
417,568,482
|
||
|
Investments Purchased with Cash Collateral from Securities
on Loan
|
|||
|
Money Market Funds-33.30%
|
|||
|
Invesco Private Government Fund,
3.58%(d)(e)(f)
|
|
38,585,715
|
38,585,715
|
|
|
Shares
|
Value
|
|
|
Money Market Funds-(continued)
|
|||
|
Invesco Private Prime Fund, 3.75%(d)(e)(f)
|
|
100,367,215
|
$100,387,288
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $138,967,928)
|
138,973,003
|
||
|
TOTAL INVESTMENTS IN SECURITIES-133.34%
(Cost $444,774,851)
|
556,541,485
|
||
|
OTHER ASSETS LESS LIABILITIES-(33.34)%
|
(139,146,584
)
|
||
|
NET ASSETS-100.00%
|
$417,394,901
|
||
|
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 May 31, 2026.
|
|
(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 May 31, 2026.
|
|
|
Value
August 31, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Realized
Gain
(Loss)
|
Value
May 31, 2026
|
Dividend Income
|
|
Investments in Affiliated
Money Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government &
Agency Portfolio,
Institutional Class
|
$9,716
|
$6,695,616
|
$(6,444,151
)
|
$-
|
$-
|
$261,181
|
$12,445
|
|
Investments Purchased
with Cash Collateral from
Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private
Government Fund
|
45,377,721
|
245,315,732
|
(252,107,738
)
|
-
|
-
|
38,585,715
|
1,290,585
*
|
|
Invesco Private Prime
Fund
|
119,116,376
|
503,100,336
|
(521,821,350
)
|
(5,114
)
|
(2,960
)
|
100,387,288
|
3,497,929
*
|
|
Total
|
$164,503,813
|
$755,111,684
|
$(780,373,239
)
|
$(5,114
)
|
$(2,960
)
|
$139,234,184
|
$4,800,959
|
|
*
|
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 May 31, 2026.
|
|
(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-99.91%
|
|||
|
Automobile Components-11.74%
|
|||
|
Adient PLC(b)
|
|
7,587
|
$173,439
|
|
Dana, Inc.
|
|
10,876
|
385,119
|
|
Dauch Corp.(b)(c)
|
|
22,854
|
151,750
|
|
Dorman Products, Inc.(b)(c)
|
|
2,693
|
333,716
|
|
Fox Factory Holding Corp.(b)
|
|
4,048
|
73,026
|
|
Gentherm, Inc.(b)(c)
|
|
2,952
|
102,405
|
|
LCI Industries
|
|
2,343
|
255,434
|
|
Patrick Industries, Inc.(c)
|
|
3,223
|
291,746
|
|
Phinia, Inc.
|
|
3,672
|
283,699
|
|
Standard Motor Products, Inc.
|
|
2,024
|
79,321
|
|
Versigent PLC(b)(c)
|
|
6,868
|
303,016
|
|
XPEL, Inc.(b)(c)(d)
|
|
2,439
|
111,511
|
|
|
|
|
2,544,182
|
|
Automobiles-0.37%
|
|||
|
Winnebago Industries, Inc.
|
|
2,733
|
81,143
|
|
Broadline Retail-3.72%
|
|||
|
Etsy, Inc.(b)(c)
|
|
9,559
|
649,247
|
|
Kohl’s Corp.
|
|
10,865
|
156,022
|
|
|
|
|
805,269
|
|
Commercial Services & Supplies-0.80%
|
|||
|
Matthews International Corp., Class A(c)
|
|
3,014
|
79,992
|
|
Pursuit Attractions and Hospitality, Inc.(b)(c)
|
|
2,082
|
93,211
|
|
|
|
|
173,203
|
|
Distributors-3.10%
|
|||
|
LKQ Corp.(c)
|
|
24,789
|
672,278
|
|
Diversified Consumer Services-14.40%
|
|||
|
ADT, Inc.
|
|
56,494
|
379,075
|
|
Bright Horizons Family Solutions, Inc.(b)
|
|
5,477
|
342,970
|
|
Covista, Inc.(b)(c)
|
|
3,342
|
393,687
|
|
Frontdoor, Inc.(b)(c)
|
|
6,984
|
433,497
|
|
Laureate Education, Inc., Class A(b)(c)
|
|
12,987
|
415,454
|
|
OneSpaWorld Holdings Ltd. (Bahamas)
|
|
9,873
|
234,484
|
|
Perdoceo Education Corp.
|
|
5,855
|
189,585
|
|
Strategic Education, Inc.
|
|
2,251
|
172,764
|
|
Stride, Inc.(b)(c)
|
|
4,070
|
375,986
|
|
Universal Technical Institute, Inc.(b)(c)
|
|
4,902
|
183,384
|
|
|
|
|
3,120,886
|
|
Hotels, Restaurants & Leisure-17.80%
|
|||
|
BJ’s Restaurants, Inc.(b)(c)
|
|
2,047
|
96,311
|
|
Brinker International, Inc.(b)(c)
|
|
4,218
|
600,559
|
|
Caesars Entertainment, Inc.(b)(c)
|
|
19,767
|
574,231
|
|
Cheesecake Factory, Inc. (The)(c)
|
|
4,441
|
293,284
|
|
Cracker Barrel Old Country Store, Inc.(c)
|
|
2,162
|
73,119
|
|
Life Time Group Holdings, Inc.(b)(c)
|
|
14,735
|
487,434
|
|
Marriott Vacations Worldwide Corp.(c)
|
|
2,682
|
227,648
|
|
Monarch Casino & Resort, Inc.
|
|
1,173
|
141,065
|
|
Papa John’s International, Inc.(c)
|
|
3,175
|
108,617
|
|
PENN Entertainment, Inc.(b)(c)
|
|
12,334
|
232,249
|
|
Red Rock Resorts, Inc., Class A(c)
|
|
4,701
|
274,445
|
|
Sabre Corp.(b)(c)
|
|
38,242
|
67,306
|
|
Shake Shack, Inc., Class A(b)
|
|
3,898
|
250,680
|
|
Six Flags Entertainment Corp.(b)(c)
|
|
9,827
|
206,465
|
|
United Parks & Resorts, Inc.(b)(c)
|
|
2,641
|
105,983
|
|
Wendy’s Co. (The)(c)
|
|
15,304
|
117,841
|
|
|
|
|
3,857,237
|
|
Household Durables-16.96%
|
|||
|
Cavco Industries, Inc.(b)(c)
|
|
752
|
403,463
|
|
Century Communities, Inc.(c)
|
|
2,448
|
129,303
|
|
|
Shares
|
Value
|
|
|
Household Durables-(continued)
|
|||
|
Champion Homes, Inc.(b)
|
|
5,356
|
$394,362
|
|
Dream Finders Homes, Inc., Class A(b)(c)
|
|
2,832
|
43,783
|
|
Ethan Allen Interiors, Inc.(c)
|
|
2,284
|
47,096
|
|
Green Brick Partners, Inc.(b)(c)
|
|
2,953
|
198,619
|
|
Installed Building Products, Inc.
|
|
2,193
|
460,486
|
|
La-Z-Boy, Inc.
|
|
3,995
|
150,132
|
|
Leggett & Platt, Inc.(c)
|
|
13,116
|
134,701
|
|
LGI Homes, Inc.(b)(c)
|
|
1,967
|
94,042
|
|
M/I Homes, Inc.(b)
|
|
2,532
|
333,262
|
|
Meritage Homes Corp.
|
|
6,469
|
422,038
|
|
Mohawk Industries, Inc.(b)(c)
|
|
5,029
|
540,215
|
|
Newell Brands, Inc.
|
|
40,597
|
138,030
|
|
Sonos, Inc.(b)
|
|
11,706
|
184,721
|
|
|
|
|
3,674,253
|
|
Leisure Products-3.23%
|
|||
|
Acushnet Holdings Corp.
|
|
2,670
|
237,042
|
|
Callaway Golf Co.(b)
|
|
13,534
|
208,424
|
|
Peloton Interactive, Inc., Class A(b)(c)
|
|
39,672
|
253,901
|
|
|
|
|
699,367
|
|
Specialty Retail-21.85%
|
|||
|
Academy Sports & Outdoors, Inc.(c)
|
|
6,458
|
340,982
|
|
Advance Auto Parts, Inc.(c)
|
|
5,813
|
350,175
|
|
American Eagle Outfitters, Inc.(c)
|
|
15,267
|
241,219
|
|
Asbury Automotive Group, Inc.(b)(c)
|
|
1,883
|
353,458
|
|
Boot Barn Holdings, Inc.(b)(c)
|
|
2,946
|
500,437
|
|
Buckle, Inc. (The)(c)
|
|
2,917
|
133,803
|
|
CarMax, Inc.(b)(c)
|
|
13,732
|
612,722
|
|
Group 1 Automotive, Inc.
|
|
1,142
|
361,260
|
|
MarineMax, Inc.(b)(c)
|
|
1,877
|
64,644
|
|
Monro, Inc.(c)
|
|
2,960
|
48,692
|
|
National Vision Holdings, Inc.(b)(c)
|
|
7,681
|
128,657
|
|
Sally Beauty Holdings, Inc.(b)(c)
|
|
9,395
|
124,766
|
|
Signet Jewelers Ltd.(c)
|
|
3,940
|
344,316
|
|
Sonic Automotive, Inc., Class A(c)
|
|
1,437
|
118,725
|
|
Upbound Group, Inc.(c)
|
|
5,047
|
96,953
|
|
Urban Outfitters, Inc.(b)(c)
|
|
5,211
|
378,579
|
|
Victoria’s Secret & Co.(b)(c)
|
|
7,774
|
427,570
|
|
Winmark Corp.(c)
|
|
286
|
108,271
|
|
|
|
|
4,735,229
|
|
Textiles, Apparel & Luxury Goods-5.94%
|
|||
|
Carter’s, Inc.
|
|
3,530
|
136,222
|
|
G-III Apparel Group Ltd.(c)
|
|
3,595
|
116,226
|
|
Kontoor Brands, Inc.
|
|
4,953
|
355,477
|
|
Oxford Industries, Inc.(c)
|
|
1,354
|
60,415
|
|
Steven Madden Ltd.
|
|
7,036
|
305,644
|
|
Under Armour, Inc., Class A(b)(c)
|
|
18,287
|
107,345
|
|
Under Armour, Inc., Class C(b)(c)
|
|
11,576
|
66,330
|
|
Wolverine World Wide, Inc.(c)
|
|
7,938
|
139,312
|
|
|
|
|
1,286,971
|
|
Total Common Stocks & Other Equity Interests
(Cost $24,191,935)
|
21,650,018
|
||
|
|
Shares
|
Value
|
|
|
|
|||
|
Money Market Funds-0.01%
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 3.53%(e)(f)
(Cost $1,987)
|
|
1,987
|
$1,987
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from
securities on loan)-99.92%
(Cost $24,193,922)
|
21,652,005
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-32.17%
|
|||
|
Invesco Private Government Fund,
3.58%(e)(f)(g)
|
|
1,901,969
|
1,901,969
|
|
|
Shares
|
Value
|
|
|
Money Market Funds-(continued)
|
|||
|
Invesco Private Prime Fund, 3.75%(e)(f)(g)
|
|
5,066,649
|
$5,067,662
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $6,969,720)
|
6,969,631
|
||
|
TOTAL INVESTMENTS IN SECURITIES-132.09%
(Cost $31,163,642)
|
28,621,636
|
||
|
OTHER ASSETS LESS LIABILITIES-(32.09)%
|
(6,952,752
)
|
||
|
NET ASSETS-100.00%
|
$21,668,884
|
||
|
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 May 31, 2026.
|
|
(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 May 31, 2026
represented less than 1% 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 nine months ended May 31, 2026.
|
|
|
Value
August 31, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Realized
Gain
(Loss)
|
Value
May 31, 2026
|
Dividend Income
|
|
Investments in Affiliated
Money Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government &
Agency Portfolio, Institutional
Class
|
$8,319
|
$251,235
|
$(257,567
)
|
$-
|
$-
|
$1,987
|
$284
|
|
Investments Purchased with
Cash Collateral from
Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government
Fund
|
2,058,949
|
10,481,271
|
(10,638,251
)
|
-
|
-
|
1,901,969
|
57,656
*
|
|
Invesco Private Prime Fund
|
5,356,425
|
17,543,271
|
(17,831,212
)
|
(413
)
|
(409
)
|
5,067,662
|
153,789
*
|
|
Total
|
$7,423,693
|
$28,275,777
|
$(28,727,030
)
|
$(413
)
|
$(409
)
|
$6,971,618
|
$211,729
|
|
*
|
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 May 31, 2026.
|
|
(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.
|
|
|
Shares
|
Value
|
|
|
Common Stocks & Other Equity Interests-99.79%
|
|||
|
Beverages-10.28%
|
|||
|
National Beverage Corp.(b)(c)
|
|
19,161
|
$708,766
|
|
Vita Coco Co., Inc. (The)(b)(c)
|
|
35,894
|
2,696,716
|
|
|
|
|
3,405,482
|
|
Consumer Staples Distribution & Retail-25.34%
|
|||
|
Andersons, Inc. (The)
|
|
20,013
|
1,412,718
|
|
Chefs’ Warehouse, Inc. (The)(b)
|
|
21,005
|
1,607,723
|
|
Grocery Outlet Holding Corp.(b)(c)
|
|
80,319
|
683,515
|
|
PriceSmart, Inc.
|
|
17,555
|
2,984,173
|
|
United Natural Foods, Inc.(b)
|
|
33,304
|
1,710,160
|
|
|
|
|
8,398,289
|
|
Food Products-41.25%
|
|||
|
Cal-Maine Foods, Inc.(c)
|
|
31,151
|
2,327,603
|
|
Flowers Foods, Inc.(c)
|
|
172,970
|
1,321,491
|
|
Fresh Del Monte Produce, Inc.(c)
|
|
26,990
|
867,458
|
|
Freshpet, Inc.(b)(c)
|
|
33,917
|
1,750,117
|
|
J&J Snack Foods Corp.
|
|
12,449
|
947,618
|
|
John B. Sanfilippo & Son, Inc.
|
|
7,439
|
557,255
|
|
Lamb Weston Holdings, Inc.
|
|
96,574
|
4,170,065
|
|
Simply Good Foods Co. (The)(b)
|
|
69,706
|
803,013
|
|
Tootsie Roll Industries, Inc.(c)
|
|
16,560
|
624,478
|
|
Vital Farms, Inc.(b)(c)
|
|
30,378
|
304,084
|
|
|
|
|
13,673,182
|
|
Household Products-13.60%
|
|||
|
Central Garden & Pet Co.(b)
|
|
5,661
|
217,835
|
|
Central Garden & Pet Co., Class A(b)
|
|
35,726
|
1,219,329
|
|
Energizer Holdings, Inc.(c)
|
|
49,878
|
908,777
|
|
Reynolds Consumer Products, Inc.
|
|
44,779
|
970,361
|
|
WD-40 Co.
|
|
5,954
|
1,190,621
|
|
|
|
|
4,506,923
|
|
Personal Care Products-6.13%
|
|||
|
Edgewell Personal Care Co.
|
|
38,223
|
669,667
|
|
Interparfums, Inc.
|
|
14,446
|
1,363,269
|
|
|
|
|
2,032,936
|
|
|
Shares
|
Value
|
|
|
Tobacco-3.19%
|
|||
|
Universal Corp.
|
|
20,403
|
$1,058,304
|
|
Total Common Stocks & Other Equity Interests
(Cost $36,091,494)
|
33,075,116
|
||
|
|
|||
|
Money Market Funds-0.04%
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 3.53%(d)(e)
(Cost $14,297)
|
|
14,297
|
14,297
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from
securities on loan)-99.83%
(Cost $36,105,791)
|
33,089,413
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-22.26%
|
|||
|
Invesco Private Government Fund,
3.58%(d)(e)(f)
|
|
2,052,612
|
2,052,612
|
|
Invesco Private Prime Fund, 3.75%(d)(e)(f)
|
|
5,323,164
|
5,324,229
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $7,376,744)
|
7,376,841
|
||
|
TOTAL INVESTMENTS IN SECURITIES-122.09%
(Cost $43,482,535)
|
40,466,254
|
||
|
OTHER ASSETS LESS LIABILITIES-(22.09)%
|
(7,322,676
)
|
||
|
NET ASSETS-100.00%
|
$33,143,578
|
||
|
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 May 31, 2026.
|
|
(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 May 31, 2026.
|
|
|
Value
August 31, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Realized
Gain
(Loss)
|
Value
May 31, 2026
|
Dividend Income
|
|
Investments in Affiliated
Money Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government &
Agency Portfolio, Institutional
Class
|
$16,191
|
$1,366,404
|
$(1,368,298
)
|
$-
|
$-
|
$14,297
|
$552
|
|
|
Value
August 31, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Realized
Gain
(Loss)
|
Value
May 31, 2026
|
Dividend Income
|
|
Investments Purchased with
Cash Collateral from
Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government
Fund
|
$1,899,726
|
$24,836,744
|
$(24,683,858
)
|
$-
|
$-
|
$2,052,612
|
$47,805
*
|
|
Invesco Private Prime Fund
|
4,947,457
|
50,640,996
|
(50,263,648
)
|
(243
)
|
(333
)
|
5,324,229
|
130,893
*
|
|
Total
|
$6,863,374
|
$76,844,144
|
$(76,315,804
)
|
$(243
)
|
$(333
)
|
$7,391,138
|
$179,250
|
|
*
|
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 May 31, 2026.
|
|
(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-99.80%
|
|||
|
Energy Equipment & Services-50.41%
|
|||
|
Archrock, Inc.
|
|
222,974
|
$7,467,399
|
|
Atlas Energy Solutions, Inc.(b)
|
|
99,484
|
1,660,388
|
|
Bristow Group, Inc.
|
|
32,563
|
1,355,923
|
|
Cactus, Inc., Class A
|
|
89,063
|
5,169,216
|
|
Core Laboratories, Inc.(b)
|
|
60,574
|
828,047
|
|
Helix Energy Solutions Group, Inc.(c)
|
|
177,055
|
1,655,464
|
|
Helmerich & Payne, Inc.
|
|
129,220
|
4,929,743
|
|
Innovex International, Inc.(b)(c)
|
|
49,977
|
1,334,886
|
|
Kodiak Gas Services, Inc.
|
|
102,697
|
6,865,294
|
|
Liberty Energy, Inc., Class A
|
|
206,026
|
6,028,321
|
|
Noble Corp. PLC
|
|
159,914
|
7,432,803
|
|
Oceaneering International, Inc.(b)(c)
|
|
129,137
|
4,936,907
|
|
Patterson-UTI Energy, Inc.
|
|
446,665
|
5,007,115
|
|
RPC, Inc.(b)
|
|
115,690
|
765,868
|
|
Tidewater, Inc.(b)(c)
|
|
59,651
|
4,383,752
|
|
|
|
|
59,821,126
|
|
Oil, Gas & Consumable Fuels-49.39%
|
|||
|
California Resources Corp.
|
|
99,899
|
5,923,012
|
|
Comstock Resources, Inc.(b)(c)
|
|
102,447
|
1,365,619
|
|
Core Natural Resources, Inc.
|
|
65,146
|
5,761,512
|
|
Crescent Energy Co., Class A
|
|
314,516
|
3,635,805
|
|
CVR Energy, Inc.(b)
|
|
39,033
|
1,296,676
|
|
Dorian LPG Ltd.
|
|
47,570
|
1,913,265
|
|
International Seaways, Inc.
|
|
52,418
|
4,046,145
|
|
Kinetik Holdings, Inc., Class A
|
|
58,827
|
2,703,101
|
|
Magnolia Oil & Gas Corp., Class A(b)
|
|
229,985
|
6,292,390
|
|
Northern Oil and Gas, Inc.
|
|
135,070
|
2,940,474
|
|
Par Pacific Holdings, Inc.(c)
|
|
65,094
|
3,655,679
|
|
Peabody Energy Corp.
|
|
150,248
|
4,064,208
|
|
REX American Resources Corp.(c)
|
|
36,666
|
1,714,502
|
|
SM Energy Co.
|
|
287,813
|
8,838,738
|
|
|
Shares
|
Value
|
|
|
Oil, Gas & Consumable Fuels-(continued)
|
|||
|
Talos Energy, Inc.(c)
|
|
162,789
|
$2,388,115
|
|
World Kinect Corp.(b)
|
|
71,917
|
2,071,929
|
|
|
|
|
58,611,170
|
|
Total Common Stocks & Other Equity Interests
(Cost $104,191,327)
|
118,432,296
|
||
|
|
|||
|
Money Market Funds-0.08%
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 3.53%(d)(e)
(Cost $98,321)
|
|
98,321
|
98,321
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.88%
(Cost $104,289,648)
|
118,530,617
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-12.94%
|
|||
|
Invesco Private Government Fund,
3.58%(d)(e)(f)
|
|
3,760,067
|
3,760,067
|
|
Invesco Private Prime Fund, 3.75%(d)(e)(f)
|
|
11,593,151
|
11,595,470
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $15,355,537)
|
15,355,537
|
||
|
TOTAL INVESTMENTS IN SECURITIES-112.82%
(Cost $119,645,185)
|
133,886,154
|
||
|
OTHER ASSETS LESS LIABILITIES-(12.82)%
|
(15,212,155
)
|
||
|
NET ASSETS-100.00%
|
$118,673,999
|
||
|
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 May 31, 2026.
|
|
(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 nine months ended May 31, 2026.
|
|
|
Value
August 31, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Realized
Gain
(Loss)
|
Value
May 31, 2026
|
Dividend Income
|
|
Investments in Affiliated
Money Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government &
Agency Portfolio,
Institutional Class
|
$49,958
|
$2,362,961
|
$(2,314,598
)
|
$-
|
$-
|
$98,321
|
$1,519
|
|
Investments Purchased
with Cash Collateral from
Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private
Government Fund
|
5,157,496
|
64,468,708
|
(65,866,137
)
|
-
|
-
|
3,760,067
|
184,277
*
|
|
Invesco Private Prime Fund
|
13,948,386
|
131,947,778
|
(134,297,061
)
|
(1,135
)
|
(2,498
)
|
11,595,470
|
501,332
*
|
|
Total
|
$19,155,840
|
$198,779,447
|
$(202,477,796
)
|
$(1,135
)
|
$(2,498
)
|
$15,453,858
|
$687,128
|
|
*
|
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 May 31, 2026.
|
|
(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-99.93%
|
|||
|
Banks-34.30%
|
|||
|
Ameris Bancorp(b)
|
|
3,833
|
$323,160
|
|
Atlantic Union Bankshares Corp., Class B
|
|
8,463
|
318,378
|
|
Axos Financial, Inc.(c)
|
|
3,383
|
294,016
|
|
Banc of California, Inc.
|
|
8,014
|
154,029
|
|
BancFirst Corp.(b)
|
|
1,240
|
136,760
|
|
Bancorp, Inc. (The)(c)
|
|
2,528
|
139,444
|
|
Bank of Hawaii Corp.
|
|
2,375
|
181,925
|
|
BankUnited, Inc.
|
|
4,426
|
205,322
|
|
Banner Corp.
|
|
2,032
|
132,080
|
|
Beacon Financial Corp.
|
|
5,000
|
145,450
|
|
Capitol Federal Financial, Inc.
|
|
7,131
|
55,408
|
|
Cathay General Bancorp
|
|
4,012
|
231,332
|
|
Central Pacific Financial Corp.
|
|
1,574
|
54,083
|
|
City Holding Co.(b)
|
|
860
|
106,907
|
|
Community Financial System, Inc.
|
|
3,145
|
200,148
|
|
Customers Bancorp, Inc.(b)(c)
|
|
1,898
|
142,616
|
|
CVB Financial Corp.(b)
|
|
9,956
|
202,704
|
|
Dime Community Bancshares, Inc., Class B(b)
|
|
2,435
|
91,118
|
|
Eagle Bancorp, Inc.(b)
|
|
1,650
|
45,028
|
|
FB Financial Corp.
|
|
2,410
|
126,983
|
|
First Bancorp (Puerto Rico)
|
|
9,288
|
222,726
|
|
First Bancorp/Southern Pines NC(b)
|
|
2,475
|
145,604
|
|
First Commonwealth Financial Corp.
|
|
6,119
|
115,894
|
|
First Financial Bancorp
|
|
6,176
|
189,974
|
|
First Hawaiian, Inc.
|
|
7,324
|
197,601
|
|
First Interstate BancSystem, Inc., Class A(b)
|
|
5,251
|
186,936
|
|
Fulton Financial Corp.
|
|
11,429
|
247,895
|
|
Hanmi Financial Corp.(b)
|
|
1,769
|
53,282
|
|
Heritage Financial Corp.
|
|
2,455
|
66,899
|
|
Hilltop Holdings, Inc.
|
|
2,488
|
93,847
|
|
Hope Bancorp, Inc.
|
|
7,653
|
95,969
|
|
Independent Bank Corp.
|
|
2,959
|
233,998
|
|
Lakeland Financial Corp.
|
|
1,506
|
91,309
|
|
National Bank Holdings Corp., Class A
|
|
2,689
|
112,481
|
|
NBT Bancorp, Inc.
|
|
3,120
|
144,269
|
|
Northwest Bancshares, Inc.
|
|
8,722
|
123,416
|
|
OFG Bancorp (Puerto Rico)
|
|
2,582
|
117,636
|
|
Park National Corp.
|
|
960
|
164,698
|
|
Pathward Financial, Inc.(b)
|
|
1,299
|
106,830
|
|
Preferred Bank(b)
|
|
676
|
64,774
|
|
Provident Financial Services, Inc.
|
|
7,797
|
173,015
|
|
Renasant Corp.
|
|
5,649
|
230,027
|
|
S&T Bancorp, Inc.
|
|
2,233
|
100,686
|
|
Seacoast Banking Corp. of Florida
|
|
5,782
|
175,252
|
|
ServisFirst Bancshares, Inc.
|
|
3,000
|
233,970
|
|
Simmons First National Corp., Class A
|
|
8,642
|
185,371
|
|
Southside Bancshares, Inc.
|
|
1,668
|
54,644
|
|
Stellar Bancorp, Inc.
|
|
2,727
|
101,826
|
|
Tompkins Financial Corp.
|
|
754
|
64,957
|
|
Triumph Financial, Inc.(b)(c)
|
|
1,349
|
96,116
|
|
TrustCo Bank Corp.
|
|
1,076
|
55,748
|
|
Trustmark Corp.
|
|
3,523
|
155,576
|
|
United Community Banks, Inc.
|
|
7,199
|
237,207
|
|
WaFd, Inc.(b)
|
|
4,529
|
161,051
|
|
Westamerica Bancorporation
|
|
1,470
|
81,570
|
|
WSFS Financial Corp.(b)
|
|
3,188
|
227,783
|
|
|
|
|
8,397,728
|
|
Capital Markets-12.88%
|
|||
|
Acadian Asset Management, Inc.
|
|
1,577
|
114,033
|
|
Artisan Partners Asset Management, Inc.,
Class A
|
|
4,206
|
157,473
|
|
|
Shares
|
Value
|
|
|
Capital Markets-(continued)
|
|||
|
BGC Group, Inc., Class A
|
|
21,680
|
$226,556
|
|
Cohen & Steers, Inc.
|
|
1,640
|
114,472
|
|
Donnelley Financial Solutions, Inc.(c)
|
|
1,584
|
62,869
|
|
MarketAxess Holdings, Inc.
|
|
2,219
|
288,559
|
|
Moelis & Co., Class A(b)
|
|
4,417
|
297,220
|
|
Piper Sandler Cos.
|
|
4,035
|
316,384
|
|
PJT Partners, Inc., Class A
|
|
1,451
|
221,858
|
|
StepStone Group, Inc., Class A
|
|
4,401
|
217,013
|
|
StoneX Group, Inc.(c)
|
|
4,181
|
473,916
|
|
Victory Capital Holdings, Inc., Class A
|
|
2,834
|
239,615
|
|
Virtu Financial, Inc., Class A
|
|
4,764
|
238,915
|
|
Virtus Investment Partners, Inc.(b)
|
|
379
|
54,208
|
|
WisdomTree, Inc.(b)
|
|
6,846
|
130,416
|
|
|
|
|
3,153,507
|
|
Consumer Finance-4.33%
|
|||
|
Bread Financial Holdings, Inc.
|
|
2,633
|
234,521
|
|
Dave, Inc.(c)
|
|
662
|
187,055
|
|
Encore Capital Group, Inc.(b)(c)
|
|
1,331
|
106,387
|
|
Enova International, Inc.(c)
|
|
1,475
|
238,227
|
|
EZCORP, Inc., Class A(b)(c)
|
|
3,506
|
109,527
|
|
Navient Corp.
|
|
3,954
|
33,846
|
|
PRA Group, Inc.(c)
|
|
2,329
|
35,541
|
|
PROG Holdings, Inc.
|
|
2,361
|
86,814
|
|
World Acceptance Corp.(b)(c)
|
|
170
|
28,065
|
|
|
|
|
1,059,983
|
|
Diversified REITs-3.22%
|
|||
|
American Assets Trust, Inc.
|
|
2,826
|
65,846
|
|
Broadstone Net Lease, Inc.(b)
|
|
11,295
|
228,498
|
|
Essential Properties Realty Trust, Inc.
|
|
12,529
|
383,137
|
|
Global Net Lease, Inc.
|
|
11,769
|
110,275
|
|
|
|
|
787,756
|
|
Financial Services-9.41%
|
|||
|
Enact Holdings, Inc.
|
|
1,724
|
72,046
|
|
EVERTEC, Inc. (Puerto Rico)
|
|
3,820
|
93,475
|
|
HA Sustainable Infrastructure Capital, Inc.(b)
|
|
7,620
|
312,420
|
|
Jackson Financial, Inc., Class A
|
|
4,227
|
435,846
|
|
Merchants Bancorp(b)
|
|
1,753
|
82,637
|
|
NCR Atleos Corp.(c)
|
|
4,412
|
196,775
|
|
NMI Holdings, Inc., Class A(c)
|
|
4,539
|
162,950
|
|
Payoneer Global, Inc.(c)
|
|
17,235
|
89,622
|
|
Radian Group, Inc.
|
|
8,088
|
276,205
|
|
Remitly Global, Inc.(c)
|
|
10,233
|
204,865
|
|
Sezzle, Inc.(b)(c)
|
|
1,019
|
120,395
|
|
Walker & Dunlop, Inc.
|
|
2,033
|
102,036
|
|
Western Union Co. (The)(b)
|
|
18,974
|
154,259
|
|
|
|
|
2,303,531
|
|
Health Care REITs-1.18%
|
|||
|
LTC Properties, Inc.(b)
|
|
2,842
|
106,319
|
|
Medical Properties Trust, Inc.(b)
|
|
29,443
|
150,454
|
|
Universal Health Realty Income Trust
|
|
762
|
31,585
|
|
|
|
|
288,358
|
|
Hotel & Resort REITs-4.43%
|
|||
|
Apple Hospitality REIT, Inc.
|
|
13,134
|
192,938
|
|
DiamondRock Hospitality Co.
|
|
12,160
|
133,638
|
|
Pebblebrook Hotel Trust(b)
|
|
6,781
|
103,410
|
|
Ryman Hospitality Properties, Inc.
|
|
3,761
|
433,004
|
|
Sunstone Hotel Investors, Inc.
|
|
11,336
|
122,656
|
|
Xenia Hotels & Resorts, Inc.
|
|
5,659
|
98,297
|
|
|
|
|
1,083,943
|
|
|
Shares
|
Value
|
|
|
Industrial REITs-2.81%
|
|||
|
Innovative Industrial Properties, Inc.
|
|
1,673
|
$97,017
|
|
LXP Industrial Trust
|
|
3,527
|
182,135
|
|
Terreno Realty Corp.(b)
|
|
6,219
|
408,526
|
|
|
|
|
687,678
|
|
Insurance-8.44%
|
|||
|
AMERISAFE, Inc.
|
|
1,129
|
34,604
|
|
Assured Guaranty Ltd.
|
|
2,586
|
191,907
|
|
Employers Holdings, Inc.
|
|
1,342
|
58,377
|
|
F&G Annuities & Life, Inc.
|
|
2,250
|
62,370
|
|
Genworth Financial, Inc., Class A(c)
|
|
23,841
|
204,079
|
|
Goosehead Insurance, Inc., Class A(b)(c)
|
|
1,487
|
51,138
|
|
HCI Group, Inc.
|
|
641
|
98,759
|
|
Horace Mann Educators Corp.
|
|
2,429
|
111,078
|
|
Kemper Corp.
|
|
3,505
|
86,468
|
|
Lincoln National Corp.
|
|
10,091
|
356,112
|
|
Mercury General Corp.
|
|
1,587
|
155,574
|
|
Palomar Holdings, Inc.(c)
|
|
1,582
|
169,337
|
|
ProAssurance Corp.(b)(c)
|
|
3,069
|
73,625
|
|
Safety Insurance Group, Inc.(b)
|
|
889
|
62,381
|
|
SiriusPoint Ltd.(c)
|
|
6,201
|
132,392
|
|
Stewart Information Services Corp.
|
|
1,804
|
117,224
|
|
Trupanion, Inc.(b)(c)
|
|
2,021
|
44,098
|
|
United Fire Group, Inc.
|
|
1,298
|
57,540
|
|
|
|
|
2,067,063
|
|
Mortgage REITs-4.54%
|
|||
|
Adamas Trust, Inc.
|
|
5,014
|
46,129
|
|
Apollo Commercial Real Estate Finance, Inc.(b)
|
|
7,833
|
85,850
|
|
Arbor Realty Trust, Inc.(b)
|
|
11,683
|
67,177
|
|
ARMOUR Residential REIT, Inc.(b)
|
|
6,680
|
114,562
|
|
Blackstone Mortgage Trust, Inc., Class A(b)
|
|
9,468
|
173,075
|
|
Ellington Financial, Inc.
|
|
7,441
|
100,974
|
|
Franklin BSP Realty Trust, Inc.(b)
|
|
4,868
|
42,206
|
|
PennyMac Mortgage Investment Trust(b)
|
|
5,194
|
54,329
|
|
Redwood Trust, Inc.
|
|
7,430
|
40,271
|
|
Rithm Capital Corp.(b)
|
|
33,183
|
309,265
|
|
Two Harbors Investment Corp.
|
|
6,256
|
77,136
|
|
|
|
|
1,110,974
|
|
Office REITs-2.43%
|
|||
|
Douglas Emmett, Inc.(b)
|
|
9,971
|
116,063
|
|
Easterly Government Properties, Inc.
|
|
2,612
|
62,636
|
|
Highwoods Properties, Inc.
|
|
6,562
|
171,268
|
|
JBG SMITH Properties
|
|
3,533
|
51,829
|
|
SL Green Realty Corp.(b)
|
|
4,248
|
192,859
|
|
|
|
|
594,655
|
|
Real Estate Management & Development-1.91%
|
|||
|
Cushman & Wakefield Ltd.(c)
|
|
13,826
|
171,995
|
|
eXp World Holdings, Inc.(b)
|
|
5,405
|
26,593
|
|
Kennedy-Wilson Holdings, Inc.
|
|
7,162
|
78,854
|
|
Marcus & Millichap, Inc.(b)
|
|
1,422
|
40,157
|
|
St. Joe Co. (The)
|
|
2,378
|
151,312
|
|
|
|
|
468,911
|
|
|
Shares
|
Value
|
|
|
Residential REITs-0.43%
|
|||
|
Centerspace
|
|
997
|
$67,278
|
|
NexPoint Residential Trust, Inc.
|
|
1,302
|
37,836
|
|
|
|
|
105,114
|
|
Retail REITs-6.58%
|
|||
|
Acadia Realty Trust(b)
|
|
7,822
|
172,241
|
|
Curbline Properties Corp.
|
|
5,787
|
168,575
|
|
Getty Realty Corp.(b)
|
|
3,285
|
106,861
|
|
Macerich Co. (The)(b)
|
|
16,435
|
370,116
|
|
Phillips Edison & Co., Inc.
|
|
7,510
|
301,527
|
|
Saul Centers, Inc.(b)
|
|
743
|
25,752
|
|
Tanger, Inc.
|
|
6,871
|
247,837
|
|
Urban Edge Properties
|
|
7,519
|
168,726
|
|
Whitestone REIT
|
|
2,680
|
51,134
|
|
|
|
|
1,612,769
|
|
Specialized REITs-3.04%
|
|||
|
Four Corners Property Trust, Inc.
|
|
6,551
|
163,120
|
|
Millrose Properties, Inc.
|
|
9,204
|
259,737
|
|
Outfront Media, Inc.
|
|
8,685
|
280,004
|
|
Safehold, Inc.
|
|
2,741
|
41,033
|
|
|
|
|
743,894
|
|
Total Common Stocks & Other Equity Interests
(Cost $22,808,576)
|
24,465,864
|
||
|
|
|||
|
Money Market Funds-0.01%
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 3.53%(d)(e)
(Cost $3,180)
|
|
3,180
|
3,180
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from
securities on loan)-99.94%
(Cost $22,811,756)
|
24,469,044
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-20.27%
|
|||
|
Invesco Private Government Fund,
3.58%(d)(e)(f)
|
|
1,377,383
|
1,377,383
|
|
Invesco Private Prime Fund, 3.75%(d)(e)(f)
|
|
3,584,011
|
3,584,728
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $4,961,865)
|
4,962,111
|
||
|
TOTAL INVESTMENTS IN SECURITIES-120.21%
(Cost $27,773,621)
|
29,431,155
|
||
|
OTHER ASSETS LESS LIABILITIES-(20.21)%
|
(4,947,156
)
|
||
|
NET ASSETS-100.00%
|
$24,483,999
|
||
|
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 May 31, 2026.
|
|
(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 nine months ended May 31, 2026.
|
|
|
Value
August 31, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
|
Realized
Gain
(Loss)
|
Value
May 31, 2026
|
Dividend Income
|
|
Investments in Affiliated
Money Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government & Agency
Portfolio, Institutional Class
|
$35,918
|
$682,738
|
$(715,476
)
|
$-
|
$-
|
$3,180
|
$490
|
|
Investments Purchased with
Cash Collateral from
Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government
Fund
|
721,674
|
8,894,069
|
(8,238,360
)
|
-
|
-
|
1,377,383
|
27,291
*
|
|
Invesco Private Prime Fund
|
1,877,453
|
20,427,846
|
(18,720,384
)
|
114
|
(301
)
|
3,584,728
|
74,089
*
|
|
Total
|
$2,635,045
|
$30,004,653
|
$(27,674,220
)
|
$114
|
$(301
)
|
$4,965,291
|
$101,870
|
|
*
|
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 May 31, 2026.
|
|
(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-99.93%
|
|||
|
Biotechnology-27.41%
|
|||
|
Acadia Pharmaceuticals, Inc.(b)
|
|
87,695
|
$1,899,474
|
|
ADMA Biologics, Inc.(b)(c)
|
|
166,708
|
1,330,330
|
|
Alkermes PLC(b)(c)
|
|
115,659
|
4,879,653
|
|
Arcus Biosciences, Inc.(b)(c)
|
|
59,378
|
1,504,639
|
|
Catalyst Pharmaceuticals, Inc.(b)
|
|
80,930
|
2,527,444
|
|
Krystal Biotech, Inc.(b)(c)
|
|
18,078
|
5,586,644
|
|
Protagonist Therapeutics, Inc.(b)
|
|
41,163
|
4,098,188
|
|
PTC Therapeutics, Inc.(b)
|
|
56,239
|
4,153,250
|
|
Sarepta Therapeutics, Inc.(b)(c)
|
|
73,400
|
1,311,658
|
|
TG Therapeutics, Inc.(b)(c)
|
|
95,238
|
3,613,330
|
|
Veracyte, Inc.(b)(c)
|
|
55,371
|
2,565,892
|
|
Vericel Corp.(b)(c)
|
|
35,425
|
1,180,715
|
|
Vir Biotechnology, Inc.(b)(c)
|
|
79,065
|
754,280
|
|
Xencor, Inc.(b)(c)
|
|
50,020
|
594,238
|
|
|
|
|
35,999,735
|
|
Health Care Equipment & Supplies-22.45%
|
|||
|
Artivion, Inc.(b)
|
|
29,491
|
654,405
|
|
Avanos Medical, Inc.(b)
|
|
32,514
|
806,347
|
|
CONMED Corp.(c)
|
|
21,691
|
774,369
|
|
Embecta Corp.
|
|
41,424
|
140,013
|
|
Enovis Corp.(b)(c)
|
|
40,058
|
908,515
|
|
Glaukos Corp.(b)
|
|
40,231
|
4,157,874
|
|
ICU Medical, Inc.(b)
|
|
17,293
|
2,341,299
|
|
Inspire Medical Systems, Inc.(b)(c)
|
|
18,217
|
753,455
|
|
Integer Holdings Corp.(b)(c)
|
|
24,543
|
2,193,653
|
|
Integra LifeSciences Holdings Corp.(b)(c)
|
|
46,922
|
752,629
|
|
LeMaitre Vascular, Inc.
|
|
14,620
|
1,383,783
|
|
Merit Medical Systems, Inc.(b)
|
|
41,530
|
2,618,882
|
|
Neogen Corp.(b)
|
|
152,368
|
1,366,741
|
|
Omnicell, Inc.(b)
|
|
31,435
|
1,387,541
|
|
QuidelOrtho Corp.(b)(c)
|
|
47,584
|
619,544
|
|
STAAR Surgical Co., (Acquired 08/21/2023 -
05/15/2026; Cost $1,464,945)(b)(c)(d)
|
|
34,842
|
1,041,427
|
|
Tandem Diabetes Care, Inc.(b)(c)
|
|
47,493
|
816,880
|
|
Teleflex, Inc.
|
|
30,957
|
3,982,309
|
|
TransMedics Group, Inc.(b)(c)
|
|
23,938
|
1,608,634
|
|
UFP Technologies, Inc.(b)(c)
|
|
5,401
|
1,188,760
|
|
|
|
|
29,497,060
|
|
Health Care Providers & Services-26.92%
|
|||
|
Acadia Healthcare Co., Inc.(b)(c)
|
|
64,623
|
1,499,254
|
|
AdaptHealth Corp.(b)
|
|
75,171
|
761,482
|
|
Addus HomeCare Corp.(b)(c)
|
|
12,775
|
1,171,212
|
|
Alignment Healthcare, Inc.(b)(c)
|
|
112,187
|
1,718,705
|
|
AMN Healthcare Services, Inc.(b)
|
|
26,908
|
779,525
|
|
Astrana Health, Inc.(b)(c)
|
|
30,220
|
1,136,876
|
|
BrightSpring Health Services, Inc.(b)
|
|
92,724
|
5,719,216
|
|
Concentra Group Holdings Parent, Inc.
|
|
83,494
|
2,076,496
|
|
CorVel Corp.(b)
|
|
21,856
|
1,349,608
|
|
LifeStance Health Group, Inc.(b)(c)
|
|
158,024
|
1,218,365
|
|
Molina Healthcare, Inc.(b)(c)
|
|
36,074
|
6,262,446
|
|
National HealthCare Corp.
|
|
8,694
|
1,603,348
|
|
NeoGenomics, Inc.(b)(c)
|
|
90,632
|
953,449
|
|
Pediatrix Medical Group, Inc.(b)
|
|
58,965
|
1,270,106
|
|
Privia Health Group, Inc.(b)
|
|
80,989
|
1,742,073
|
|
Progyny, Inc.(b)(c)
|
|
56,161
|
1,435,475
|
|
RadNet, Inc.(b)
|
|
48,790
|
2,709,309
|
|
Select Medical Holdings Corp.
|
|
77,190
|
1,273,635
|
|
U.S. Physical Therapy, Inc.(c)
|
|
10,650
|
684,369
|
|
|
|
|
35,364,949
|
|
|
Shares
|
Value
|
|
|
Health Care Technology-2.36%
|
|||
|
Certara, Inc.(b)(c)
|
|
83,673
|
$486,977
|
|
HealthStream, Inc.
|
|
16,625
|
415,126
|
|
Schrodinger, Inc.(b)(c)
|
|
39,307
|
597,467
|
|
Waystar Holding Corp.(b)(c)
|
|
80,407
|
1,600,903
|
|
|
|
|
3,100,473
|
|
Life Sciences Tools & Services-2.02%
|
|||
|
Azenta, Inc.(b)(c)
|
|
28,715
|
656,999
|
|
BioLife Solutions, Inc.(b)(c)
|
|
27,318
|
680,764
|
|
Cytek Biosciences, Inc.(b)(c)
|
|
77,025
|
322,735
|
|
Fortrea Holdings, Inc.(b)
|
|
64,723
|
996,087
|
|
OmniAb, Inc., Rts., expiring
11/02/2027(b)(c)(e)
|
|
20,053
|
0
|
|
OmniAb, Inc., Rts., expiring
11/02/2027(b)(c)(e)
|
|
20,053
|
0
|
|
|
|
|
2,656,585
|
|
Pharmaceuticals-18.77%
|
|||
|
Amneal Pharmaceuticals, Inc.(b)
|
|
118,907
|
1,566,005
|
|
Amphastar Pharmaceuticals, Inc.(b)(c)
|
|
24,785
|
467,197
|
|
ANI Pharmaceuticals, Inc.(b)(c)
|
|
12,593
|
988,676
|
|
Collegium Pharmaceutical, Inc.(b)
|
|
22,142
|
744,193
|
|
Corcept Therapeutics, Inc.(b)(c)
|
|
65,575
|
4,556,807
|
|
Harmony Biosciences Holdings, Inc.(b)(c)
|
|
27,837
|
879,371
|
|
Indivior Pharmaceuticals, Inc.(b)
|
|
87,455
|
3,150,129
|
|
Innoviva, Inc.(b)
|
|
49,754
|
1,065,731
|
|
Ligand Pharmaceuticals, Inc.(b)
|
|
13,787
|
3,198,032
|
|
Organon & Co.
|
|
182,108
|
2,429,321
|
|
Pacira BioSciences, Inc.(b)(c)
|
|
28,789
|
668,481
|
|
Perrigo Co. PLC
|
|
96,401
|
1,065,231
|
|
Phibro Animal Health Corp., Class A
|
|
14,446
|
444,792
|
|
Prestige Consumer Healthcare, Inc.(b)
|
|
33,145
|
1,575,382
|
|
Supernus Pharmaceuticals, Inc.(b)
|
|
40,164
|
1,854,773
|
|
|
|
|
24,654,121
|
|
Total Common Stocks & Other Equity Interests
(Cost $135,550,016)
|
131,272,923
|
||
|
|
|||
|
Money Market Funds-0.04%
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 3.53%(f)(g)
(Cost $57,930)
|
|
57,930
|
57,930
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.97%
(Cost $135,607,946)
|
131,330,853
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-29.75%
|
|||
|
Invesco Private Government Fund,
3.58%(f)(g)(h)
|
|
10,864,717
|
10,864,717
|
|
Invesco Private Prime Fund, 3.75%(f)(g)(h)
|
|
28,204,069
|
28,209,710
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $39,072,969)
|
39,074,427
|
||
|
TOTAL INVESTMENTS IN SECURITIES-129.72%
(Cost $174,680,915)
|
170,405,280
|
||
|
OTHER ASSETS LESS LIABILITIES-(29.72)%
|
(39,045,314
)
|
||
|
NET ASSETS-100.00%
|
$131,359,966
|
||
|
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 May 31, 2026.
|
|
(d)
|
Restricted security. The value of this security at May 31, 2026 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 nine months ended May 31, 2026.
|
|
|
Value
August 31, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Realized
Gain
(Loss)
|
Value
May 31, 2026
|
Dividend Income
|
|
Investments in Affiliated
Money Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government &
Agency Portfolio,
Institutional Class
|
$19,829
|
$2,555,320
|
$(2,517,219
)
|
$-
|
$-
|
$57,930
|
$1,854
|
|
Investments Purchased
with Cash Collateral from
Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private
Government Fund
|
11,271,213
|
58,268,317
|
(58,674,813
)
|
-
|
-
|
10,864,717
|
329,489
*
|
|
Invesco Private Prime Fund
|
29,323,616
|
116,906,974
|
(118,017,622
)
|
(463
)
|
(2,795
)
|
28,209,710
|
887,460
*
|
|
Total
|
$40,614,658
|
$177,730,611
|
$(179,209,654
)
|
$(463
)
|
$(2,795
)
|
$39,132,357
|
$1,218,803
|
|
*
|
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 May 31, 2026.
|
|
(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-99.93%
|
|||
|
Aerospace & Defense-5.60%
|
|||
|
AAR Corp.(b)
|
|
23,417
|
$2,637,223
|
|
Mercury Systems, Inc.(b)
|
|
31,673
|
3,537,874
|
|
National Presto Industries, Inc.
|
|
3,151
|
398,822
|
|
VSE Corp.(c)
|
|
17,268
|
3,197,170
|
|
|
|
|
9,771,089
|
|
Air Freight & Logistics-0.95%
|
|||
|
Forward Air Corp.(b)(c)
|
|
13,226
|
139,931
|
|
Hub Group, Inc., Class A
|
|
36,348
|
1,509,896
|
|
|
|
|
1,649,827
|
|
Building Products-13.08%
|
|||
|
Apogee Enterprises, Inc.
|
|
12,804
|
491,802
|
|
Armstrong World Industries, Inc.
|
|
25,860
|
4,083,294
|
|
AZZ, Inc.
|
|
17,901
|
2,425,764
|
|
CSW Industrials, Inc.(c)
|
|
9,878
|
2,735,910
|
|
Gibraltar Industries, Inc.(b)(c)
|
|
17,612
|
680,704
|
|
Griffon Corp.
|
|
23,463
|
2,064,275
|
|
Hayward Holdings, Inc.(b)
|
|
119,724
|
1,689,305
|
|
Insteel Industries, Inc.
|
|
11,545
|
317,372
|
|
MasterBrand, Inc.(b)(c)
|
|
120,239
|
1,043,674
|
|
Quanex Building Products Corp.(c)
|
|
27,344
|
508,872
|
|
Resideo Technologies, Inc.(b)
|
|
82,622
|
2,583,590
|
|
Zurn Elkay Water Solutions Corp.
|
|
89,037
|
4,184,739
|
|
|
|
|
22,809,301
|
|
Commercial Services & Supplies-12.55%
|
|||
|
ABM Industries, Inc.
|
|
35,156
|
1,373,193
|
|
Brady Corp., Class A
|
|
26,171
|
2,252,800
|
|
Casella Waste Systems, Inc., Class A(b)(c)
|
|
37,484
|
3,080,060
|
|
CoreCivic, Inc.(b)
|
|
60,019
|
1,265,201
|
|
Deluxe Corp.
|
|
26,832
|
651,749
|
|
GEO Group, Inc. (The)(b)(c)
|
|
81,992
|
1,858,759
|
|
Healthcare Services Group, Inc.(b)
|
|
42,002
|
865,241
|
|
HNI Corp.
|
|
41,628
|
1,298,377
|
|
Interface, Inc.
|
|
35,016
|
1,036,474
|
|
Liquidity Services, Inc.(b)
|
|
14,031
|
508,062
|
|
MillerKnoll, Inc.
|
|
40,687
|
658,316
|
|
OPENLANE, Inc.(b)
|
|
63,734
|
2,428,265
|
|
Pitney Bowes, Inc.
|
|
88,836
|
1,430,260
|
|
UniFirst Corp.
|
|
8,710
|
2,311,808
|
|
Vestis Corp.(b)(c)
|
|
66,862
|
863,857
|
|
|
|
|
21,882,422
|
|
Construction & Engineering-16.41%
|
|||
|
Arcosa, Inc.(c)
|
|
29,413
|
3,728,098
|
|
Argan, Inc.
|
|
8,320
|
5,549,606
|
|
Everus Construction Group, Inc.(b)
|
|
30,585
|
4,550,130
|
|
Granite Construction, Inc.
|
|
26,090
|
3,570,156
|
|
MYR Group, Inc.(b)
|
|
9,308
|
4,328,779
|
|
Primoris Services Corp.
|
|
32,404
|
4,075,775
|
|
WillScot Holdings Corp.
|
|
109,103
|
2,807,220
|
|
|
|
|
28,609,764
|
|
Electrical Equipment-4.11%
|
|||
|
Powell Industries, Inc.
|
|
17,042
|
4,847,086
|
|
Sunrun, Inc.(b)
|
|
139,132
|
2,326,287
|
|
|
|
|
7,173,373
|
|
Ground Transportation-6.69%
|
|||
|
ArcBest Corp.
|
|
13,409
|
1,832,876
|
|
Heartland Express, Inc.
|
|
27,199
|
407,713
|
|
Hertz Global Holdings, Inc.(b)(c)
|
|
74,190
|
400,626
|
|
Lyft, Inc., Class A(b)(c)
|
|
238,750
|
3,368,763
|
|
|
Shares
|
Value
|
|
|
Ground Transportation-(continued)
|
|||
|
Marten Transport Ltd.
|
|
34,514
|
$595,021
|
|
RXO, Inc.(b)(c)
|
|
98,455
|
2,518,479
|
|
Schneider National, Inc., Class B
|
|
29,876
|
1,055,818
|
|
Werner Enterprises, Inc.
|
|
35,934
|
1,491,620
|
|
|
|
|
11,670,916
|
|
Machinery-24.73%
|
|||
|
Alamo Group, Inc.
|
|
6,467
|
974,642
|
|
Albany International Corp., Class A
|
|
17,203
|
1,112,862
|
|
Astec Industries, Inc.
|
|
13,637
|
686,759
|
|
Atmus Filtration Technologies, Inc.
|
|
48,875
|
2,286,372
|
|
Enerpac Tool Group Corp.
|
|
31,690
|
1,061,298
|
|
Enpro, Inc.
|
|
12,633
|
3,878,205
|
|
ESCO Technologies, Inc.
|
|
15,530
|
4,533,207
|
|
Federal Signal Corp.
|
|
36,468
|
3,891,136
|
|
Franklin Electric Co., Inc.
|
|
22,958
|
2,258,608
|
|
Gates Industrial Corp. PLC(b)(c)
|
|
152,221
|
3,945,568
|
|
Greenbrier Cos., Inc. (The)(c)
|
|
18,412
|
867,389
|
|
JBT Marel Corp.
|
|
31,165
|
4,188,264
|
|
Kadant, Inc.(c)
|
|
7,064
|
2,254,687
|
|
Kennametal, Inc.(c)
|
|
45,725
|
1,499,780
|
|
Lindsay Corp.
|
|
6,233
|
681,205
|
|
Mueller Water Products, Inc., Class A
|
|
93,790
|
2,364,446
|
|
Proto Labs, Inc.(b)
|
|
14,197
|
1,075,565
|
|
Standex International Corp.
|
|
7,267
|
2,013,032
|
|
Tennant Co.
|
|
10,806
|
930,505
|
|
Trinity Industries, Inc.(c)
|
|
48,102
|
1,560,429
|
|
Worthington Enterprises, Inc.
|
|
18,715
|
1,062,450
|
|
|
|
|
43,126,409
|
|
Marine Transportation-1.94%
|
|||
|
Matson, Inc.
|
|
18,704
|
3,391,035
|
|
Passenger Airlines-2.43%
|
|||
|
Allegiant Travel Co.(b)
|
|
13,124
|
1,202,289
|
|
JetBlue Airways Corp.(b)(c)
|
|
177,642
|
971,702
|
|
SkyWest, Inc.(b)
|
|
24,021
|
2,057,399
|
|
|
|
|
4,231,390
|
|
Professional Services-7.65%
|
|||
|
Amentum Holdings, Inc.(b)
|
|
92,049
|
2,138,298
|
|
Insperity, Inc.
|
|
21,368
|
736,555
|
|
Korn Ferry
|
|
31,319
|
2,191,704
|
|
Legalzoom.com, Inc.(b)(c)
|
|
68,587
|
431,412
|
|
ManpowerGroup, Inc.
|
|
27,600
|
872,988
|
|
Paycom Software, Inc.
|
|
29,307
|
4,093,309
|
|
Robert Half, Inc.
|
|
59,613
|
1,755,007
|
|
Upwork, Inc.(b)(c)
|
|
77,890
|
686,990
|
|
Verra Mobility Corp., Class A(b)
|
|
95,716
|
431,679
|
|
|
|
|
13,337,942
|
|
Trading Companies & Distributors-3.79%
|
|||
|
Boise Cascade Co.
|
|
22,230
|
1,549,876
|
|
DNOW, Inc.(b)(c)
|
|
111,442
|
1,425,343
|
|
DXP Enterprises, Inc.(b)
|
|
7,624
|
1,105,937
|
|
Rush Enterprises, Inc., Class A
|
|
36,366
|
2,521,255
|
|
|
|
|
6,602,411
|
|
Total Common Stocks & Other Equity Interests
(Cost $147,035,854)
|
174,255,879
|
||
|
|
Shares
|
Value
|
|
|
|
|||
|
Money Market Funds-0.01%
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 3.53%(d)(e)
(Cost $19,717)
|
|
19,717
|
$19,717
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.94%
(Cost $147,055,571)
|
174,275,596
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-12.02%
|
|||
|
Invesco Private Government Fund,
3.58%(d)(e)(f)
|
|
5,827,651
|
5,827,651
|
|
|
Shares
|
Value
|
|
|
Money Market Funds-(continued)
|
|||
|
Invesco Private Prime Fund, 3.75%(d)(e)(f)
|
|
15,129,782
|
$15,132,808
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $20,960,313)
|
20,960,459
|
||
|
TOTAL INVESTMENTS IN SECURITIES-111.96%
(Cost $168,015,884)
|
195,236,055
|
||
|
OTHER ASSETS LESS LIABILITIES-(11.96)%
|
(20,863,239
)
|
||
|
NET ASSETS-100.00%
|
$174,372,816
|
||
|
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 May 31, 2026.
|
|
(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 May 31, 2026.
|
|
|
Value
August 31, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Realized
Gain
(Loss)
|
Value
May 31, 2026
|
Dividend Income
|
|
Investments in Affiliated
Money Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government &
Agency Portfolio,
Institutional Class
|
$54,418
|
$8,313,310
|
$(8,348,011
)
|
$-
|
$-
|
$19,717
|
$3,477
|
|
Investments Purchased
with Cash Collateral from
Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private
Government Fund
|
4,335,262
|
46,842,238
|
(45,349,849
)
|
-
|
-
|
5,827,651
|
144,304
*
|
|
Invesco Private Prime Fund
|
11,275,322
|
115,194,047
|
(111,335,451
)
|
(566
)
|
(544
)
|
15,132,808
|
394,439
*
|
|
Total
|
$15,665,002
|
$170,349,595
|
$(165,033,311
)
|
$(566
)
|
$(544
)
|
$20,980,176
|
$542,220
|
|
*
|
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 May 31, 2026.
|
|
(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-100.00%
|
|||
|
Communications Equipment-13.11%
|
|||
|
Calix, Inc.(b)(c)
|
|
121,491
|
$4,829,267
|
|
Digi International, Inc.(b)(c)
|
|
75,762
|
5,060,902
|
|
Extreme Networks, Inc.(b)
|
|
270,472
|
7,170,213
|
|
Harmonic, Inc.(b)(c)
|
|
226,315
|
3,419,620
|
|
NetScout Systems, Inc.(b)(c)
|
|
138,204
|
5,752,050
|
|
Viasat, Inc.(b)(c)
|
|
273,617
|
22,059,002
|
|
Viavi Solutions, Inc.(b)(c)
|
|
466,114
|
22,634,496
|
|
|
|
|
70,925,550
|
|
Electronic Equipment, Instruments & Components-26.20%
|
|||
|
Arlo Technologies, Inc.(b)(c)
|
|
213,721
|
2,851,038
|
|
Badger Meter, Inc.(c)
|
|
59,360
|
7,354,704
|
|
Benchmark Electronics, Inc.
|
|
71,872
|
6,070,309
|
|
CTS Corp.(c)
|
|
58,522
|
3,757,698
|
|
ePlus, Inc.(c)
|
|
52,671
|
4,323,762
|
|
Insight Enterprises, Inc.(b)(c)
|
|
62,438
|
6,642,155
|
|
Itron, Inc.(b)(c)
|
|
92,261
|
7,609,687
|
|
Knowles Corp.(b)
|
|
171,052
|
6,399,055
|
|
Mirion Technologies, Inc.(b)(c)
|
|
492,853
|
9,009,353
|
|
Napco Security Technologies, Inc.
|
|
71,910
|
2,698,782
|
|
OSI Systems, Inc.(b)(c)
|
|
31,192
|
6,760,866
|
|
PC Connection, Inc.(c)
|
|
22,919
|
1,594,933
|
|
Plexus Corp.(b)(c)
|
|
53,960
|
14,480,706
|
|
Ralliant Corp.
|
|
227,235
|
14,059,030
|
|
Rogers Corp.(b)
|
|
33,691
|
4,767,950
|
|
Sanmina Corp.(b)(c)
|
|
109,997
|
28,569,521
|
|
ScanSource, Inc.(b)(c)
|
|
39,862
|
1,844,415
|
|
Vishay Intertechnology, Inc.(c)
|
|
248,761
|
12,948,010
|
|
|
|
|
141,741,974
|
|
IT Services-1.16%
|
|||
|
DXC Technology Co.(b)(c)
|
|
342,299
|
3,392,183
|
|
Everforth, Inc.(b)(c)
|
|
86,085
|
1,952,408
|
|
Grid Dynamics Holdings, Inc.(b)(c)
|
|
133,471
|
960,991
|
|
|
|
|
6,305,582
|
|
Semiconductors & Semiconductor Equipment-37.78%
|
|||
|
ACM Research, Inc., Class A(b)
|
|
107,313
|
9,289,013
|
|
Alpha & Omega Semiconductor Ltd.(b)(c)
|
|
49,819
|
2,259,292
|
|
Axcelis Technologies, Inc.(b)(c)
|
|
61,837
|
9,300,903
|
|
Cohu, Inc.(b)(c)
|
|
94,060
|
4,961,665
|
|
Diodes, Inc.(b)(c)
|
|
92,410
|
9,732,621
|
|
Enphase Energy, Inc.(b)(c)
|
|
263,600
|
18,019,696
|
|
FormFactor, Inc.(b)(c)
|
|
156,157
|
19,455,600
|
|
Ichor Holdings Ltd.(b)
|
|
69,363
|
4,960,842
|
|
Impinj, Inc.(b)(c)
|
|
54,197
|
8,183,747
|
|
Kulicke & Soffa Industries, Inc. (Singapore)
|
|
105,411
|
10,740,327
|
|
MaxLinear, Inc.(b)(c)
|
|
163,695
|
15,212,176
|
|
PDF Solutions, Inc.(b)(c)
|
|
73,888
|
3,607,951
|
|
Penguin Solutions, Inc.(b)(c)
|
|
96,343
|
5,378,830
|
|
Photronics, Inc.(b)(c)
|
|
118,980
|
3,849,003
|
|
Power Integrations, Inc.
|
|
111,810
|
9,392,040
|
|
Qorvo, Inc.(b)
|
|
169,937
|
17,598,676
|
|
Semtech Corp.(b)(c)
|
|
186,411
|
28,435,134
|
|
SolarEdge Technologies, Inc.(b)
|
|
120,458
|
9,196,968
|
|
Ultra Clean Holdings, Inc.(b)(c)
|
|
91,431
|
7,823,751
|
|
Veeco Instruments, Inc.(b)(c)
|
|
121,463
|
7,001,127
|
|
|
|
|
204,399,362
|
|
|
Shares
|
Value
|
|
|
Software-20.48%
|
|||
|
A10 Networks, Inc.(c)
|
|
144,021
|
$4,340,793
|
|
ACI Worldwide, Inc.(b)(c)
|
|
207,668
|
9,068,862
|
|
Adeia, Inc.
|
|
220,599
|
5,894,405
|
|
Agilysys, Inc.(b)(c)
|
|
51,388
|
4,448,145
|
|
Alarm.com Holdings, Inc.(b)(c)
|
|
100,479
|
4,532,608
|
|
BlackLine, Inc.(b)(c)
|
|
100,743
|
2,961,844
|
|
Box, Inc., Class A(b)(c)
|
|
288,524
|
7,778,607
|
|
CleanSpark, Inc.(b)(c)
|
|
515,191
|
9,422,843
|
|
Clear Secure, Inc., Class A
|
|
178,606
|
9,903,703
|
|
Life360, Inc.(b)(c)
|
|
157,929
|
6,710,403
|
|
LiveRamp Holdings, Inc.(b)(c)
|
|
127,160
|
4,776,130
|
|
MARA Holdings, Inc.(b)(c)
|
|
761,819
|
10,954,957
|
|
N-able, Inc.(b)(c)
|
|
150,355
|
556,314
|
|
NCR Voyix Corp.(b)(c)
|
|
279,264
|
2,007,908
|
|
Progress Software Corp.(b)(c)
|
|
84,939
|
2,788,547
|
|
Q2 Holdings, Inc.(b)(c)
|
|
125,712
|
5,952,463
|
|
RingCentral, Inc., Class A
|
|
152,732
|
6,614,823
|
|
Sprinklr, Inc., Class A(b)
|
|
249,413
|
1,391,725
|
|
SPS Commerce, Inc.(b)(c)
|
|
75,957
|
4,310,560
|
|
Teradata Corp.(b)(c)
|
|
187,740
|
6,392,547
|
|
|
|
|
110,808,187
|
|
Technology Hardware, Storage & Peripherals-1.27%
|
|||
|
Corsair Gaming, Inc.(b)(c)
|
|
94,626
|
1,148,759
|
|
Diebold Nixdorf, Inc.(b)(c)
|
|
70,849
|
5,748,688
|
|
|
|
|
6,897,447
|
|
Total Common Stocks & Other Equity Interests
(Cost $356,207,967)
|
541,078,102
|
||
|
|
|||
|
Money Market Funds-0.01%
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 3.53%(d)(e)
(Cost $56,052)
|
|
56,052
|
56,052
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.01%
(Cost $356,264,019)
|
541,134,154
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-29.63%
|
|||
|
Invesco Private Government Fund,
3.58%(d)(e)(f)
|
|
44,442,757
|
44,442,757
|
|
Invesco Private Prime Fund, 3.75%(d)(e)(f)
|
|
115,845,367
|
115,868,536
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $160,306,461)
|
160,311,293
|
||
|
TOTAL INVESTMENTS IN SECURITIES-129.64%
(Cost $516,570,480)
|
701,445,447
|
||
|
OTHER ASSETS LESS LIABILITIES-(29.64)%
|
(160,353,467
)
|
||
|
NET ASSETS-100.00%
|
$541,091,980
|
||
|
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 May 31, 2026.
|
|
(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 May 31, 2026.
|
|
|
Value
August 31, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
|
Realized
Gain
(Loss)
|
Value
May 31, 2026
|
Dividend Income
|
|
Investments in Affiliated
Money Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government &
Agency Portfolio,
Institutional Class
|
$-
|
$1,994,416
|
$(1,938,364
)
|
$-
|
$-
|
$56,052
|
$2,942
|
|
Investments Purchased
with Cash Collateral from
Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government
Fund
|
21,374,609
|
170,185,053
|
(147,116,905
)
|
-
|
-
|
44,442,757
|
779,896
*
|
|
Invesco Private Prime Fund
|
55,839,807
|
382,008,986
|
(321,974,722
)
|
1,641
|
(7,176
)
|
115,868,536
|
2,113,683
*
|
|
Total
|
$77,214,416
|
$554,188,455
|
$(471,029,991
)
|
$1,641
|
$(7,176
)
|
$160,367,345
|
$2,896,521
|
|
*
|
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 May 31, 2026.
|
|
(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-99.68%
|
|||
|
Chemicals-71.67%
|
|||
|
Balchem Corp.
|
|
8,581
|
$1,344,900
|
|
Celanese Corp.(b)
|
|
29,016
|
1,541,620
|
|
Chemours Co. (The)(b)
|
|
41,364
|
916,626
|
|
Eastman Chemical Co.
|
|
30,233
|
2,293,778
|
|
Element Solutions, Inc.
|
|
60,276
|
2,557,511
|
|
FMC Corp.(b)
|
|
34,473
|
470,901
|
|
H.B. Fuller Co.(b)
|
|
14,987
|
960,367
|
|
Hawkins, Inc.
|
|
5,768
|
892,713
|
|
Ingevity Corp.(c)
|
|
9,925
|
673,114
|
|
Innospec, Inc.
|
|
6,838
|
567,144
|
|
Koppers Holdings, Inc.
|
|
5,413
|
220,850
|
|
Minerals Technologies, Inc.
|
|
8,592
|
661,756
|
|
Quaker Chemical Corp.
|
|
3,780
|
542,543
|
|
Sensient Technologies Corp.
|
|
9,981
|
1,136,337
|
|
Stepan Co.
|
|
5,929
|
313,348
|
|
|
|
|
15,093,508
|
|
Containers & Packaging-1.75%
|
|||
|
O-I Glass, Inc.(b)(c)
|
|
42,047
|
367,911
|
|
Metals & Mining-24.56%
|
|||
|
Alpha Metallurgical Resources, Inc.(b)(c)
|
|
2,981
|
593,130
|
|
Century Aluminum Co.(c)
|
|
14,683
|
968,637
|
|
Kaiser Aluminum Corp.
|
|
4,430
|
806,437
|
|
Materion Corp.
|
|
5,722
|
1,259,069
|
|
Metallus, Inc.(c)
|
|
9,884
|
194,221
|
|
Warrior Met Coal, Inc.(b)
|
|
10,288
|
972,627
|
|
Worthington Steel, Inc.
|
|
8,973
|
378,571
|
|
|
|
|
5,172,692
|
|
|
Shares
|
Value
|
|
|
Paper & Forest Products-1.70%
|
|||
|
Sylvamo Corp.
|
|
9,134
|
$358,692
|
|
Total Common Stocks & Other Equity Interests
(Cost $18,645,248)
|
20,992,803
|
||
|
|
|||
|
Money Market Funds-0.10%
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 3.53%(d)(e)
(Cost $21,289)
|
|
21,289
|
21,289
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from
securities on loan)-99.78%
(Cost $18,666,537)
|
21,014,092
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-22.98%
|
|||
|
Invesco Private Government Fund,
3.58%(d)(e)(f)
|
|
1,347,501
|
1,347,501
|
|
Invesco Private Prime Fund, 3.75%(d)(e)(f)
|
|
3,491,561
|
3,492,259
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $4,839,760)
|
4,839,760
|
||
|
TOTAL INVESTMENTS IN SECURITIES-122.76%
(Cost $23,506,297)
|
25,853,852
|
||
|
OTHER ASSETS LESS LIABILITIES-(22.76)%
|
(4,793,474
)
|
||
|
NET ASSETS-100.00%
|
$21,060,378
|
||
|
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 May 31, 2026.
|
|
(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 nine months ended May 31, 2026.
|
|
|
Value
August 31, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Realized
Gain
(Loss)
|
Value
May 31, 2026
|
Dividend Income
|
|
Investments in Affiliated
Money Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government &
Agency Portfolio, Institutional
Class
|
$6,447
|
$226,248
|
$(211,406
)
|
$-
|
$-
|
$21,289
|
$265
|
|
Investments Purchased with
Cash Collateral from
Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government
Fund
|
612,267
|
9,459,953
|
(8,724,719
)
|
-
|
-
|
1,347,501
|
14,027
*
|
|
Invesco Private Prime Fund
|
1,880,084
|
24,023,723
|
(22,411,369
)
|
(114
)
|
(65
)
|
3,492,259
|
37,857
*
|
|
Total
|
$2,498,798
|
$33,709,924
|
$(31,347,494
)
|
$(114
)
|
$(65
)
|
$4,861,049
|
$52,149
|
|
*
|
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 May 31, 2026.
|
|
(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-99.85%
|
|||
|
Diversified Telecommunication Services-16.79%
|
|||
|
Cogent Communications Holdings, Inc.(b)
|
|
8,179
|
$145,259
|
|
Iridium Communications, Inc.
|
|
18,128
|
938,668
|
|
Lumen Technologies, Inc.(c)
|
|
162,982
|
1,791,172
|
|
Shenandoah Telecommunications Co.(b)
|
|
7,852
|
125,239
|
|
|
|
|
3,000,338
|
|
Electric Utilities-8.39%
|
|||
|
Hawaiian Electric Industries, Inc.(b)(c)
|
|
29,798
|
396,314
|
|
MGE Energy, Inc.
|
|
6,308
|
476,254
|
|
Otter Tail Corp.(b)
|
|
7,235
|
626,985
|
|
|
|
|
1,499,553
|
|
Entertainment-12.86%
|
|||
|
Cinemark Holdings, Inc.
|
|
17,813
|
498,764
|
|
Madison Square Garden Sports Corp.,
Class A(b)(c)
|
|
3,105
|
1,162,171
|
|
Sphere Entertainment Co.(b)(c)
|
|
4,596
|
636,454
|
|
|
|
|
2,297,389
|
|
Gas Utilities-8.92%
|
|||
|
Chesapeake Utilities Corp.
|
|
4,082
|
503,392
|
|
MDU Resources Group, Inc.
|
|
35,280
|
743,702
|
|
Northwest Natural Holding Co.
|
|
7,165
|
347,431
|
|
|
|
|
1,594,525
|
|
Independent Power and Renewable Electricity Producers-4.75%
|
|||
|
Clearway Energy, Inc., Class C
|
|
20,622
|
848,802
|
|
Interactive Media & Services-19.54%
|
|||
|
CarGurus, Inc.(b)(c)
|
|
14,023
|
418,727
|
|
IAC, Inc.(b)(c)
|
|
11,253
|
505,147
|
|
Match Group, Inc.
|
|
40,773
|
1,473,128
|
|
QuinStreet, Inc.(c)
|
|
9,821
|
122,959
|
|
Shutterstock, Inc.
|
|
4,162
|
61,972
|
|
TripAdvisor, Inc.(b)(c)
|
|
19,726
|
220,537
|
|
Yelp, Inc.(b)(c)
|
|
10,066
|
229,505
|
|
Ziff Davis, Inc.(b)(c)
|
|
6,807
|
306,791
|
|
ZoomInfo Technologies, Inc., Class A(b)(c)
|
|
46,287
|
154,136
|
|
|
|
|
3,492,902
|
|
Media-8.72%
|
|||
|
Cable One, Inc.(b)(c)
|
|
799
|
41,988
|
|
John Wiley & Sons, Inc., Class A(b)
|
|
6,942
|
292,119
|
|
Scholastic Corp.
|
|
3,494
|
141,507
|
|
Versant Media Group, Inc.
|
|
25,102
|
1,082,900
|
|
|
|
|
1,558,514
|
|
Multi-Utilities-4.13%
|
|||
|
Avista Corp.
|
|
14,047
|
582,529
|
|
Unitil Corp.
|
|
3,099
|
155,043
|
|
|
|
|
737,572
|
|
|
Shares
|
Value
|
|
|
Software-1.25%
|
|||
|
DoubleVerify Holdings, Inc.(c)
|
|
23,039
|
$223,478
|
|
Specialized REITs-1.94%
|
|||
|
Uniti Group, Inc.(b)(c)
|
|
30,947
|
347,225
|
|
Water Utilities-8.50%
|
|||
|
American States Water Co.
|
|
6,682
|
516,318
|
|
California Water Service Group
|
|
10,286
|
463,899
|
|
H2O America(b)
|
|
6,449
|
372,946
|
|
Middlesex Water Co.
|
|
3,159
|
165,942
|
|
|
|
|
1,519,105
|
|
Wireless Telecommunication Services-4.06%
|
|||
|
Gogo, Inc.(b)(c)
|
|
13,375
|
61,124
|
|
Telephone and Data Systems, Inc.
|
|
16,965
|
663,501
|
|
|
|
|
724,625
|
|
Total Common Stocks & Other Equity Interests
(Cost $16,633,600)
|
17,844,028
|
||
|
|
|||
|
Money Market Funds-0.06%
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 3.53%(d)(e)
(Cost $10,292)
|
|
10,292
|
10,292
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from
securities on loan)-99.91%
(Cost $16,643,892)
|
17,854,320
|
||
|
Investments Purchased with Cash Collateral
from Securities on Loan
|
|||
|
Money Market Funds-26.89%
|
|||
|
Invesco Private Government Fund,
3.58%(d)(e)(f)
|
|
1,336,254
|
1,336,254
|
|
Invesco Private Prime Fund, 3.75%(d)(e)(f)
|
|
3,469,103
|
3,469,797
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $4,805,969)
|
4,806,051
|
||
|
TOTAL INVESTMENTS IN SECURITIES-126.80%
(Cost $21,449,861)
|
22,660,371
|
||
|
OTHER ASSETS LESS LIABILITIES-(26.80)%
|
(4,788,875
)
|
||
|
NET ASSETS-100.00%
|
$17,871,496
|
||
|
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 May 31, 2026.
|
|
(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 nine months ended May 31, 2026.
|
|
|
Value
August 31, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
|
Realized
Gain
(Loss)
|
Value
May 31, 2026
|
Dividend Income
|
|
Investments in Affiliated
Money Market Funds:
|
|
|
|
|
|
|
|
|
Invesco Government & Agency
Portfolio, Institutional Class
|
$3,286
|
$1,130,286
|
$(1,123,280
)
|
$-
|
$-
|
$10,292
|
$479
|
|
Investments Purchased with
Cash Collateral from
Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government
Fund
|
742,607
|
9,506,000
|
(8,912,353
)
|
-
|
-
|
1,336,254
|
25,086
*
|
|
Invesco Private Prime Fund
|
1,930,164
|
20,132,002
|
(18,592,235
)
|
57
|
(191
)
|
3,469,797
|
68,331
*
|
|
Total
|
$2,676,057
|
$30,768,288
|
$(28,627,868
)
|
$57
|
$(191
)
|
$4,816,343
|
$93,896
|
|
*
|
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 May 31, 2026.
|
|
(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 SmallCap Momentum ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$417,307,301
|
$-
|
$-
|
$417,307,301
|
|
Money Market Funds
|
261,181
|
138,973,003
|
-
|
139,234,184
|
|
Total Investments
|
$417,568,482
|
$138,973,003
|
$-
|
$556,541,485
|
|
Invesco S&P SmallCap Consumer Discretionary ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$21,650,018
|
$-
|
$-
|
$21,650,018
|
|
Money Market Funds
|
1,987
|
6,969,631
|
-
|
6,971,618
|
|
Total Investments
|
$21,652,005
|
$6,969,631
|
$-
|
$28,621,636
|
|
Invesco S&P SmallCap Consumer Staples ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$33,075,116
|
$-
|
$-
|
$33,075,116
|
|
Money Market Funds
|
14,297
|
7,376,841
|
-
|
7,391,138
|
|
Total Investments
|
$33,089,413
|
$7,376,841
|
$-
|
$40,466,254
|
|
Invesco S&P SmallCap Energy ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$118,432,296
|
$-
|
$-
|
$118,432,296
|
|
Money Market Funds
|
98,321
|
15,355,537
|
-
|
15,453,858
|
|
Total Investments
|
$118,530,617
|
$15,355,537
|
$-
|
$133,886,154
|
|
Invesco S&P SmallCap Financials ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$24,465,864
|
$-
|
$-
|
$24,465,864
|
|
Money Market Funds
|
3,180
|
4,962,111
|
-
|
4,965,291
|
|
Total Investments
|
$24,469,044
|
$4,962,111
|
$-
|
$29,431,155
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Invesco S&P SmallCap Health Care ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$131,272,923
|
$-
|
$0
|
$131,272,923
|
|
Money Market Funds
|
57,930
|
39,074,427
|
-
|
39,132,357
|
|
Total Investments
|
$131,330,853
|
$39,074,427
|
$0
|
$170,405,280
|
|
Invesco S&P SmallCap Industrials ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$174,255,879
|
$-
|
$-
|
$174,255,879
|
|
Money Market Funds
|
19,717
|
20,960,459
|
-
|
20,980,176
|
|
Total Investments
|
$174,275,596
|
$20,960,459
|
$-
|
$195,236,055
|
|
Invesco S&P SmallCap Information Technology ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$541,078,102
|
$-
|
$-
|
$541,078,102
|
|
Money Market Funds
|
56,052
|
160,311,293
|
-
|
160,367,345
|
|
Total Investments
|
$541,134,154
|
$160,311,293
|
$-
|
$701,445,447
|
|
Invesco S&P SmallCap Materials ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$20,992,803
|
$-
|
$-
|
$20,992,803
|
|
Money Market Funds
|
21,289
|
4,839,760
|
-
|
4,861,049
|
|
Total Investments
|
$21,014,092
|
$4,839,760
|
$-
|
$25,853,852
|
|
Invesco S&P SmallCap Utilities & Communication Services ETF
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks & Other Equity Interests
|
$17,844,028
|
$-
|
$-
|
$17,844,028
|
|
Money Market Funds
|
10,292
|
4,806,051
|
-
|
4,816,343
|
|
Total Investments
|
$17,854,320
|
$4,806,051
|
$-
|
$22,660,371
|