OMB APPROVAL | ||
OMB Number: 3235-0578 | ||
Expires: April 30, 2013 | ||
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invesco.com/us
|
CDV-QTR-1 07/11 | Invesco Advisers, Inc. |
Shares | Value | |||||||
Common Stocks & Other Equity Interests99.20%(a) |
||||||||
Aerospace & Defense1.54% |
||||||||
BE Aerospace, Inc. (b) |
299,357 | $ | 11,914,409 | |||||
Air Freight & Logistics0.55% |
||||||||
UTI Worldwide, Inc. |
261,598 | 4,230,040 | ||||||
Apparel Retail1.58% |
||||||||
Abercrombie & Fitch Co. -Class A |
167,181 | 12,224,275 | ||||||
Apparel, Accessories & Luxury Goods2.57% |
||||||||
Coach, Inc. |
308,388 | 19,909,529 | ||||||
Application Software2.46% |
||||||||
Citrix Systems, Inc. (b) |
129,732 | 9,345,893 | ||||||
Salesforce.com, Inc. (b) |
55,595 | 8,045,152 | ||||||
TIBCO Software, Inc. (b) |
65,688 | 1,710,516 | ||||||
19,101,561 | ||||||||
Asset Management & Custody Banks1.86% |
||||||||
Affiliated Managers Group, Inc. (b) |
138,095 | 14,407,451 | ||||||
Auto Parts & Equipment3.14% |
||||||||
BorgWarner, Inc. (b) |
145,246 | 11,564,487 | ||||||
Gentex Corp. |
451,413 | 12,793,044 | ||||||
24,357,531 | ||||||||
Biotechnology1.14% |
||||||||
United Therapeutics Corp. (b) |
154,216 | 8,848,914 | ||||||
Broadcasting1.59% |
||||||||
Discovery Communications, Inc. -Class A
(b) |
308,795 | 12,290,041 | ||||||
Communications Equipment3.65% |
||||||||
Acme Packet, Inc. (b) |
73,792 | 4,347,825 | ||||||
F5 Networks, Inc. (b) |
139,474 | 13,038,029 | ||||||
Riverbed Technology, Inc. (b) |
228,795 | 6,550,401 | ||||||
Sycamore Networks, Inc. |
222,830 | 4,389,751 | ||||||
28,326,006 | ||||||||
Computer Storage & Peripherals1.90% |
||||||||
NetApp, Inc. (b) |
309,699 | 14,716,896 | ||||||
Construction & Engineering1.23% |
||||||||
Foster Wheeler AG (Switzerland)(b) |
350,503 | 9,498,631 | ||||||
Construction & Farm Machinery & Heavy Trucks4.18% |
||||||||
AGCO Corp. (b) |
233,919 | 11,092,439 | ||||||
Navistar International Corp. (b) |
276,650 | 14,194,912 | ||||||
Terex Corp. (b) |
320,245 | 7,112,641 | ||||||
32,399,992 | ||||||||
Consumer Finance1.41% |
||||||||
Discover Financial Services |
428,072 | 10,962,924 | ||||||
Department Stores2.20% |
||||||||
Nordstrom, Inc. |
339,493 | 17,028,969 | ||||||
Electrical Components & Equipment1.26% |
||||||||
Cooper Industries PLC (Ireland) |
187,206 | 9,792,746 | ||||||
Electronic Components1.42% |
||||||||
Amphenol Corp. -Class A |
224,831 | 10,991,988 | ||||||
Fertilizers & Agricultural Chemicals1.21% |
||||||||
Intrepid Potash, Inc. (b) |
281,876 | 9,372,377 | ||||||
Footwear1.75% |
||||||||
CROCS, Inc. (b) |
433,381 | 13,577,827 | ||||||
Health Care Equipment1.17% |
||||||||
CareFusion Corp. (b) |
343,476 | 9,064,332 | ||||||
Health Care Facilities2.77% |
||||||||
Brookdale Senior Living, Inc. (b) |
318,255 | 6,807,474 | ||||||
Universal Health Services, Inc. -Class B |
295,367 | 14,662,018 | ||||||
21,469,492 | ||||||||
Health Care Services3.01% |
||||||||
DaVita, Inc. (b) |
151,550 | 12,660,487 | ||||||
Quest Diagnostics, Inc. |
198,022 | 10,695,168 | ||||||
23,355,655 | ||||||||
Health Care Technology1.16% |
||||||||
Allscripts Healthcare Solutions, Inc. (b) |
495,101 | 8,986,083 | ||||||
Hotels, Resorts & Cruise Lines2.59% |
||||||||
Starwood Hotels & Resorts Worldwide, Inc. |
364,579 | 20,037,262 | ||||||
Human Resource & Employment Services1.28% |
||||||||
Robert Half International, Inc. |
361,418 | 9,895,625 | ||||||
Shares | Value | |||||||
Industrial Gases1.74% |
||||||||
Airgas, Inc. |
196,174 | $ | 13,477,154 | |||||
Industrial Machinery2.85% |
||||||||
Flowserve Corp. |
99,244 | 9,862,869 | ||||||
Gardner Denver, Inc. |
142,988 | 12,195,446 | ||||||
22,058,315 | ||||||||
Internet Retail1.16% |
||||||||
Netflix, Inc. (b) |
17,271 | 4,593,913 | ||||||
Priceline.com, Inc. (b) |
8,234 | 4,427,010 | ||||||
9,020,923 | ||||||||
IT Consulting & Other Services3.17% |
||||||||
Cognizant Technology Solutions Corp. -Class A
(b) |
195,746 | 13,676,773 | ||||||
Teradata Corp. (b) |
198,372 | 10,902,525 | ||||||
24,579,298 | ||||||||
Managed Health Care3.09% |
||||||||
Aetna, Inc. |
356,481 | 14,790,397 | ||||||
Aveta, Inc. (b)(c) |
1,014,837 | 9,133,533 | ||||||
23,923,930 | ||||||||
Movies & Entertainment1.13% |
||||||||
Cinemark Holdings, Inc. |
449,450 | 8,759,780 | ||||||
Oil & Gas Drilling1.04% |
||||||||
Patterson-UTI Energy, Inc. |
247,995 | 8,067,277 | ||||||
Oil & Gas Equipment & Services5.65% |
||||||||
Cameron International Corp. (b) |
262,681 | 14,694,375 | ||||||
Complete Production Services, Inc. (b) |
174,276 | 6,775,851 | ||||||
Oil States International, Inc. (b) |
141,096 | 11,386,447 | ||||||
Superior Energy Services, Inc. (b) |
262,744 | 10,901,249 | ||||||
43,757,922 | ||||||||
Oil & Gas Exploration & Production4.69% |
||||||||
Pioneer Natural Resources Co. |
152,859 | 14,214,358 | ||||||
Plains Exploration & Production Co. (b) |
293,737 | 11,458,680 | ||||||
Whiting Petroleum Corp. (b) |
181,801 | 10,653,539 | ||||||
36,326,577 | ||||||||
Packaged Foods & Meats0.77% |
||||||||
Green Mountain Coffee Roasters, Inc. (b) |
57,224 | 5,948,435 | ||||||
Pharmaceuticals1.98% |
||||||||
Hospira, Inc. (b) |
299,912 | 15,331,501 | ||||||
Railroads1.62% |
||||||||
Kansas City Southern (b) |
212,224 | 12,595,494 | ||||||
Real Estate Services1.20% |
||||||||
Jones Lang LaSalle, Inc. |
109,431 | 9,314,767 | ||||||
Restaurants1.22% |
||||||||
Dunkin Brands Group, Inc. (b) |
19,766 | 571,831 | ||||||
Panera Bread Co. -Class A (b) |
76,872 | 8,864,110 | ||||||
9,435,941 | ||||||||
Semiconductor Equipment0.48% |
||||||||
Lam Research Corp. (b) |
91,841 | 3,754,460 | ||||||
Semiconductors3.42% |
||||||||
Altera Corp. |
335,036 | 13,696,272 | ||||||
Avago Technologies Ltd. (Singapore) |
253,553 | 8,526,987 | ||||||
Cavium, Inc. (b) |
123,387 | 4,255,618 | ||||||
26,478,877 | ||||||||
Specialized Finance1.73% |
||||||||
Moodys Corp. |
377,012 | 13,425,397 | ||||||
Specialty Chemicals2.60% |
||||||||
Albemarle Corp. |
179,357 | 11,941,589 | ||||||
LyondellBasell Industries N.V. -Class A (Netherlands) |
208,938 | 8,244,694 | ||||||
20,186,283 | ||||||||
Specialty Stores3.18% |
||||||||
Dicks Sporting Goods, Inc. (b) |
311,207 | 11,514,659 | ||||||
Ulta Salon, Cosmetics & Fragrance, Inc. (b) |
208,835 | 13,162,870 | ||||||
24,677,529 | ||||||||
Systems Software1.04% |
||||||||
Check Point Software Technologies Ltd.
(Israel)(b) |
140,358 | 8,091,639 | ||||||
Trucking2.73% |
||||||||
Hertz Global Holdings, Inc. (b) |
736,206 | 10,358,418 | ||||||
J.B. Hunt Transport Services, Inc. |
239,294 | 10,825,661 | ||||||
21,184,079 | ||||||||
Wireless Telecommunication Services4.09% |
||||||||
NII Holdings, Inc. (b) |
459,928 | 19,477,951 | ||||||
SBA Communications Corp. -Class A (b) |
321,075 | 12,255,433 | ||||||
31,733,384 | ||||||||
Total Common Stocks & Other Equity Interests (Cost $677,090,526) |
768,889,518 | |||||||
Money Market Funds1.72% |
||||||||
Liquid Assets Portfolio Institutional Class
(d) |
6,649,394 | 6,649,394 | ||||||
Shares | Value | |||||||
Money Market Funds(continued) |
||||||||
Premier Portfolio -
Institutional
Class (d) |
6,649,394 | $ | 6,649,394 | |||||
Total Money Market Funds (Cost $13,298,788) |
13,298,788 | |||||||
TOTAL INVESTMENTS100.92% (Cost $690,389,314) |
782,188,306 | |||||||
OTHER ASSETS LESS LIABILITIES(0.92)% |
(7,095,051 | ) | ||||||
NET ASSETS100.00% |
$ | 775,093,255 | ||||||
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 & Poors. | |
(b) | Non-income producing security. | |
(c) | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of this security at July 31, 2011 was $9,133,533, which represented 1.18% of the Funds Net Assets. | |
(d) | The money market fund and the Fund are affiliated by having the same investment adviser. |
A. | Security Valuations Securities, including restricted securities, are valued according to the following policy. |
B. | Securities Transactions and Investment Income Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. |
C. | Country Determination For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuers securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted. |
D. | Securities Lending The Fund may lend portfolio securities having a market value up to one-third of the Funds total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated money market funds and is shown as such on the Schedule of Investments. It is the Funds policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. Lending securities entails a risk of loss to the Fund if and to the extent that the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower fails to return the securities. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, is included in Dividends from affiliates on the Statement of Operations. The aggregate value of securities out on loan is shown as a footnote on the Statement of Assets and Liabilities, if any. |
E. | Foreign Currency Translations Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of |
F. | Foreign Currency Contracts The Fund may enter into foreign currency contracts to manage or minimize currency or exchange rate risk. The Fund may also enter into foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to lock in the U.S. dollar price of that security. A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The use of foreign currency contracts does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with foreign currency contracts include failure of the counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities. |
Level 1
|
Prices are determined using quoted prices in an active market for identical assets. | |
Level 2
|
Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. | |
Level 3
|
Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Funds own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Equity Securities |
$ | 773,054,773 | $ | | $ | 9,133,533 | $ | 782,188,306 | ||||||||
Aggregate unrealized appreciation of investment securities |
$ | 124,406,978 | ||
Aggregate unrealized (depreciation) of investment securities |
(32,856,282 | ) | ||
Net unrealized appreciation of investment securities |
$ | 91,550,696 | ||
Cost of investments for tax purposes is $690,637,610. |
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invesco.com/us
|
CHT-QTR-1 07/11 | Invesco Advisers, Inc. |
Shares | Value | |||||||
Common Stocks & Other Equity Interests(a)80.14% |
||||||||
Aerospace & Defense2.52% |
||||||||
ITT Corp. |
1,206,501 | $ | 64,354,763 | |||||
Lockheed Martin Corp. |
306,390 | 23,202,915 | ||||||
Northrop Grumman Corp. |
398,031 | 24,084,856 | ||||||
Rockwell Collins, Inc. |
421,786 | 23,236,191 | ||||||
134,878,725 | ||||||||
Air Freight & Logistics0.56% |
||||||||
United Parcel Service, Inc. -Class B |
430,981 | 29,832,505 | ||||||
Apparel, Accessories & Luxury Goods0.24% |
||||||||
Prada S.p.A. (Italy)(b) |
2,146,800 | 13,084,029 | ||||||
Application Software0.55% |
||||||||
Adobe Systems Inc. (b) |
1,065,539 | 29,536,741 | ||||||
Asset Management & Custody Banks2.74% |
||||||||
Legg Mason, Inc. |
2,891,061 | 85,055,014 | ||||||
Northern Trust Corp. |
1,380,096 | 61,973,211 | ||||||
147,028,225 | ||||||||
Automobile Manufacturers0.49% |
||||||||
General Motors Co. (b) |
948,692 | 26,259,795 | ||||||
Biotechnology1.44% |
||||||||
Gilead Sciences, Inc. (b) |
1,821,178 | 77,145,100 | ||||||
Communications Equipment4.21% |
||||||||
Cisco Systems, Inc. |
5,286,496 | 84,425,341 | ||||||
Motorola Mobility Holdings Inc. (b) |
1,372,726 | 30,721,608 | ||||||
QUALCOMM, Inc. |
2,014,410 | 110,349,380 | ||||||
225,496,329 | ||||||||
Computer & Electronics Retail0.74% |
||||||||
Best Buy Co., Inc. |
1,434,865 | 39,602,274 | ||||||
Construction Materials0.79% |
||||||||
CRH PLC (Ireland) |
2,173,344 | 42,373,132 | ||||||
Consumer Finance2.71% |
||||||||
American Express Co. |
2,905,616 | 145,397,025 | ||||||
Data Processing & Outsourced Services0.46% |
||||||||
Automatic Data Processing, Inc. |
475,356 | 24,476,080 | ||||||
Department Stores1.81% |
||||||||
Macys, Inc. |
3,370,717 | 97,312,600 | ||||||
Diversified Banks0.65% |
||||||||
U.S. Bancorp |
1,329,242 | 34,640,047 | ||||||
Drug Retail2.37% |
||||||||
CVS Caremark Corp. |
3,501,315 | 127,272,800 | ||||||
Electric Utilities1.72% |
||||||||
Edison International |
790,296 | 30,086,569 | ||||||
Exelon Corp. |
1,410,836 | 62,175,542 | ||||||
92,262,111 | ||||||||
Electrical Components & Equipment0.41% |
||||||||
Emerson Electric Co. |
444,284 | 21,809,902 | ||||||
Electronic Manufacturing Services1.29% |
||||||||
TE Connectivity Ltd. |
2,008,243 | 69,143,806 | ||||||
Environmental & Facilities Services1.02% |
||||||||
Waste Management, Inc. |
1,730,921 | 54,506,702 | ||||||
Food Retail3.09% |
||||||||
Kroger Co. (The) |
6,666,590 | 165,798,093 | ||||||
Gold0.63% |
||||||||
Agnico-Eagle Mines Ltd. (Canada) |
331,041 | 18,455,536 | ||||||
Newcrest Mining Ltd. (Australia) |
352,944 | 15,336,682 | ||||||
33,792,218 | ||||||||
Health Care Equipment4.53% |
||||||||
Baxter International Inc. |
898,706 | 52,277,728 | ||||||
Boston Scientific Corp. (b) |
12,591,453 | 90,154,804 | ||||||
Covidien PLC (Ireland) |
1,542,310 | 78,333,925 | ||||||
Medtronic, Inc. |
612,003 | 22,062,708 | ||||||
242,829,165 | ||||||||
Heavy Electrical Equipment0.76% |
||||||||
ABB Ltd. -ADR (Switzerland)(b) |
1,108,778 | 26,544,145 | ||||||
Alstom S.A. (France) |
271,574 | 14,249,927 | ||||||
40,794,072 | ||||||||
Home Improvement Retail1.40% |
||||||||
Lowes Cos., Inc. |
3,487,326 | 75,256,495 | ||||||
Hypermarkets & Super Centers0.71% |
||||||||
Wal-Mart Stores, Inc. |
718,800 | 37,887,948 | ||||||
Industrial Conglomerates2.24% |
||||||||
General Electric Co. |
2,286,407 | 40,949,549 | ||||||
Koninklijke Philips Electronics N.V.
(Netherlands) |
2,314,216 | 57,697,918 | ||||||
Tyco International Ltd. (Switzerland) |
479,041 | 21,216,726 | ||||||
119,864,193 | ||||||||
Industrial Gases1.30% |
||||||||
Air Products & Chemicals, Inc. |
786,897 | 69,821,371 | ||||||
Shares | Value | |||||||
Industrial Machinery0.71% |
||||||||
Illinois Tool Works Inc. |
766,720 | $ | 38,182,656 | |||||
Insurance Brokers1.04% |
||||||||
Marsh & McLennan Cos., Inc. |
1,897,084 | 55,945,007 | ||||||
Integrated Oil & Gas1.09% |
||||||||
ConocoPhillips |
407,337 | 29,324,191 | ||||||
Petroleo Brasileiro S.A. -ADR (Brazil) |
860,121 | 29,218,310 | ||||||
58,542,501 | ||||||||
Investment Banking & Brokerage0.42% |
||||||||
Charles Schwab Corp. (The) |
1,525,057 | 22,769,101 | ||||||
Life Sciences Tools & Services1.72% |
||||||||
Agilent Technologies, Inc. (b) |
1,165,474 | 49,136,384 | ||||||
Thermo Fisher Scientific, Inc. (b) |
720,324 | 43,284,269 | ||||||
92,420,653 | ||||||||
Managed Health Care1.48% |
||||||||
WellPoint, Inc. |
1,171,624 | 79,143,201 | ||||||
Oil & Gas Equipment & Services5.57% |
||||||||
Baker Hughes Inc. |
1,650,384 | 127,706,714 | ||||||
Cameron International Corp. (b) |
544,972 | 30,485,734 | ||||||
Tenaris S.A. -ADR (Argentina) |
731,323 | 32,324,477 | ||||||
Weatherford International Ltd.
(Switzerland)(b) |
4,921,257 | 107,873,953 | ||||||
298,390,878 | ||||||||
Oil & Gas Exploration & Production3.79% |
||||||||
Apache Corp. |
874,814 | 108,231,988 | ||||||
Devon Energy Corp. |
500,649 | 39,401,076 | ||||||
Southwestern Energy Co. (b) |
1,246,781 | 55,556,562 | ||||||
203,189,626 | ||||||||
Oil & Gas Refining & Marketing1.11% |
||||||||
Valero Energy Corp. |
2,368,443 | 59,495,288 | ||||||
Pharmaceuticals5.95% |
||||||||
Merck & Co., Inc. |
494,367 | 16,872,746 | ||||||
Pfizer, Inc. |
3,736,217 | 71,884,815 | ||||||
Roche Holding AG (Switzerland) |
719,067 | 128,768,036 | ||||||
Teva Pharmaceutical Industries Ltd. -ADR (Israel) |
2,178,734 | 101,616,154 | ||||||
319,141,751 | ||||||||
Property & Casualty Insurance4.70% |
||||||||
Berkshire Hathaway, Inc. -Class A (b) |
967 | 107,820,500 | ||||||
Progressive Corp. (The) |
7,322,467 | 144,106,151 | ||||||
251,926,651 | ||||||||
Railroads1.50% |
||||||||
Union Pacific Corp. |
784,399 | 80,385,209 | ||||||
Semiconductors1.51% |
||||||||
Intel Corp. |
1,063,232 | 23,741,971 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. (Taiwan) |
23,007,019 | 57,403,935 | ||||||
81,145,906 | ||||||||
Specialty Stores0.46% |
||||||||
Staples, Inc. |
1,530,960 | 24,587,218 | ||||||
Systems Software5.84% |
||||||||
CA, Inc. |
1,268,140 | 28,279,522 | ||||||
Microsoft Corp. |
4,935,013 | 135,219,356 | ||||||
Symantec Corp. (b) |
7,854,225 | 149,701,529 | ||||||
313,200,407 | ||||||||
Wireless Telecommunication Services1.87% |
||||||||
Vodafone Group PLC (United Kingdom) |
35,615,784 | 100,379,772 | ||||||
Total Common Stocks & Other Equity Interests
(Cost $3,771,996,215) |
4,296,947,308 | |||||||
Money Market Funds19.78% |
||||||||
Liquid Assets Portfolio Institutional Class
(c) |
530,211,903 | 530,211,903 | ||||||
Premier Portfolio Institutional Class (c) |
530,211,903 | 530,211,903 | ||||||
Total Money Market Funds
(Cost $1,060,423,806) |
1,060,423,806 | |||||||
TOTAL INVESTMENTS99.92%
(Cost $4,832,420,021) |
5,357,371,114 | |||||||
OTHER ASSETS LESS LIABILITIES0.08% |
4,179,241 | |||||||
NET ASSETS100.00% |
$ | 5,361,550,355 | ||||||
(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 & Poors. | |
(b) | Non-income producing security. | |
(c) | The money market fund and the Fund are affiliated by having the same investment adviser. |
A. | Security Valuations Securities, including restricted securities, are valued according to the following policy. |
B. | Securities Transactions and Investment Income Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. |
C. | Country Determination For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuers securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted. |
D. | Securities Lending The Fund may lend portfolio securities having a market value up to one-third of the Funds total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated money market funds and is shown as such on the Schedule of Investments. It is the Funds policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. Lending securities entails a risk of loss to the Fund if and to the extent that the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower fails to return the securities. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, is included in Dividends from affiliates on the Statement of Operations. The aggregate value of securities out on loan is shown as a footnote on the Statement of Assets and Liabilities, if any. |
E. | Foreign Currency Translations Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized |
F. | Foreign Currency Contracts The Fund may enter into foreign currency contracts to manage or minimize currency or exchange rate risk. The Fund may also enter into foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to lock in the U.S. dollar price of that security. A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The use of foreign currency contracts does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with foreign currency contracts include failure of the counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities. |
G. | Call Options Written and Purchased The Fund may write and/or buy call options. A call option gives the purchaser of such option the right to buy, and the writer the obligation to sell, the underlying security at the stated exercise price during the option period. Options written by the Fund normally will have expiration dates between three and nine months from the date written. The exercise price of a call option may be below, equal to, or above the current market value of the underlying security at the time the option is written. |
When the Fund writes a call option, an amount equal to the premium received by the Fund is recorded as an asset and an equivalent liability in the Statement of Assets and Liabilities. The amount of the liability is subsequently marked-to-market to reflect the current market value of the option written. If a written call option expires on the stipulated expiration date, or if the Fund enters into a closing purchase transaction, the Fund realizes a gain (or a loss if the closing purchase transaction exceeds the premium received when the option was written) without regard to any unrealized gain or loss on the underlying security, and the liability related to such option is extinguished. If a written option is exercised, the Fund realizes a gain or a loss from the sale of the underlying security and the proceeds of the sale are increased by the premium originally received. Realized and unrealized gains and losses on these contracts are included in the Statement of Operation. A risk in writing a call option is that the Fund gives up the opportunity for profit if the market price of the security increases and the option is exercised. |
When the Fund buys a call option, an amount equal to the premium paid by the Fund is recorded as an investment on the Statement of Assets and Liabilities. The amount of the investment is subsequently marked-to-market to reflect the current value of the option purchased. Realized and unrealized gains and losses on these contracts are included in the Statement of Operations. A risk in buying an option is that the Fund pays a premium whether or not the option is exercised. In addition, there can be no assurance that a liquid secondary market will exist for any option purchased. |
H. | Put Options Purchased The Fund may purchase put options including options on securities indexes and/or futures contracts. By purchasing a put option, the Fund obtains the right (but not the obligation) to sell the options underlying instrument at a fixed strike price. In return for this right, the Fund pays an option premium. The options underlying instrument may be a security, securities index, or a futures contract. Put options may be used by the Fund to hedge securities it owns by locking in a minimum price at which the Fund can sell. If security prices fall, the put option could be exercised to offset all or a portion of the Funds resulting losses. At the same time, because the maximum the Fund has at risk is the cost of the option, purchasing put options does not eliminate the potential for the Fund to profit from an increase in the value of the securities hedged. Realized and unrealized gains and losses on these contracts are included in the Statement of Operations. A risk in buying an option is that the Fund pays a premium whether or not the option is exercised. In addition, there can be no assurance that a liquid secondary market will exist for any option purchased. |
Level 1
|
Prices are determined using quoted prices in an active market for identical assets. | |
Level 2
|
Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. | |
Level 3
|
Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Funds own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Equity Securities |
$ | 5,071,600,246 | $ | 285,770,868 | $ | | $ | 5,357,371,114 | ||||||||
Aggregate unrealized appreciation of investment securities |
$ | 722,185,952 | ||
Aggregate unrealized (depreciation) of investment securities |
(217,957,212 | ) | ||
Net unrealized appreciation of investment securities |
$ | 504,228,740 | ||
Cost of investments for tax purposes is $4,853,142,374 |
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invesco.com/us
|
CST-QTR-1 07/11 | Invesco Advisers, Inc. |
Shares | Value | |||||||
Common Stocks & Other Equity Interests(a)96.89% |
||||||||
Aerospace & Defense2.63% |
||||||||
Honeywell International Inc. |
277,603 | $ | 14,740,719 | |||||
Precision Castparts Corp. |
392,690 | 63,372,312 | ||||||
78,113,031 | ||||||||
Apparel Retail0.10% |
||||||||
Limited Brands, Inc. |
76,066 | 2,879,859 | ||||||
Apparel, Accessories & Luxury Goods2.57% |
||||||||
Coach, Inc. |
800,061 | 51,651,938 | ||||||
Prada S.p.A. (Italy)(b) |
4,003,000 | 24,396,949 | ||||||
76,048,887 | ||||||||
Application Software3.14% |
||||||||
Citrix Systems, Inc. (b) |
938,399 | 67,602,264 | ||||||
Salesforce.com, Inc. (b) |
177,083 | 25,625,681 | ||||||
93,227,945 | ||||||||
Asset Management & Custody Banks0.83% |
||||||||
Ameriprise Financial, Inc. |
454,010 | 24,561,941 | ||||||
Auto Parts & Equipment0.24% |
||||||||
BorgWarner, Inc. (b) |
90,166 | 7,179,017 | ||||||
Biotechnology1.47% |
||||||||
Gilead Sciences, Inc. (b) |
1,026,191 | 43,469,451 | ||||||
Cable & Satellite4.06% |
||||||||
Comcast Corp. -Class A |
1,839,391 | 44,182,172 | ||||||
DIRECTV -Class A (b) |
1,505,558 | 76,301,679 | ||||||
120,483,851 | ||||||||
Casinos & Gaming1.06% |
||||||||
Las Vegas Sands Corp. (b) |
664,633 | 31,357,385 | ||||||
Communications Equipment1.87% |
||||||||
F5 Networks, Inc. (b) |
149,522 | 13,977,317 | ||||||
QUALCOMM, Inc. |
759,125 | 41,584,867 | ||||||
55,562,184 | ||||||||
Computer Hardware5.84% |
||||||||
Apple Inc. (b) |
443,264 | 173,085,727 | ||||||
Computer Storage & Peripherals2.37% |
||||||||
EMC Corp. (b) |
2,203,608 | 57,470,096 | ||||||
SanDisk Corp. (b) |
300,394 | 12,775,757 | ||||||
70,245,853 | ||||||||
Construction & Engineering1.47% |
||||||||
Foster Wheeler AG (Switzerland)(b) |
1,606,891 | 43,546,746 | ||||||
Construction & Farm Machinery & Heavy Trucks1.79% |
||||||||
Cummins Inc. |
322,205 | 33,792,861 | ||||||
Navistar International Corp. (b) |
375,333 | 19,258,336 | ||||||
53,051,197 | ||||||||
Consumer Finance0.56% |
||||||||
American Express Co. |
329,164 | 16,471,367 | ||||||
Data Processing & Outsourced Services1.86% |
||||||||
MasterCard, Inc. -Class A |
182,323 | 55,289,450 | ||||||
Department Stores1.06% |
||||||||
Kohls Corp. |
573,898 | 31,397,960 | ||||||
Drug Retail1.07% |
||||||||
CVS Caremark Corp. |
870,447 | 31,640,748 | ||||||
Fertilizers & Agricultural Chemicals3.07% |
||||||||
Monsanto Co. |
703,369 | 51,683,554 | ||||||
Mosaic Co. (The) |
182,423 | 12,900,955 | ||||||
Potash Corp. of Saskatchewan Inc. (Canada) |
455,258 | 26,318,465 | ||||||
90,902,974 | ||||||||
Gold0.52% |
||||||||
Barrick Gold Corp. (Canada) |
321,179 | 15,278,485 | ||||||
Health Care Distributors0.49% |
||||||||
Cardinal Health, Inc. |
333,441 | 14,591,378 | ||||||
Health Care Equipment0.70% |
||||||||
Baxter International Inc. |
355,383 | 20,672,629 | ||||||
Health Care Services2.20% |
||||||||
Express Scripts, Inc. (b) |
533,248 | 28,934,037 | ||||||
Medco Health Solutions, Inc. (b) |
575,807 | 36,206,744 | ||||||
65,140,781 | ||||||||
Health Care Technology0.65% |
||||||||
Allscripts Healthcare Solutions, Inc. (b) |
1,061,913 | 19,273,721 | ||||||
Heavy Electrical Equipment1.84% |
||||||||
ABB Ltd. (Switzerland)(b) |
654,657 | 15,638,106 | ||||||
ABB Ltd. -ADR (Switzerland)(b) |
1,629,244 | 39,004,101 | ||||||
54,642,207 | ||||||||
Hotels, Resorts & Cruise Lines0.50% |
||||||||
Starwood Hotels & Resorts Worldwide, Inc. |
268,059 | 14,732,523 | ||||||
Shares | Value | |||||||
Hypermarkets & Super Centers0.60% |
||||||||
Costco Wholesale Corp. |
228,865 | $ | 17,908,686 | |||||
Industrial Conglomerates0.91% |
||||||||
Danaher Corp. |
549,740 | 26,997,731 | ||||||
Industrial Machinery0.90% |
||||||||
Ingersoll-Rand PLC (Ireland) |
714,280 | 26,728,358 | ||||||
Integrated Oil & Gas1.24% |
||||||||
Occidental Petroleum Corp. |
374,628 | 36,780,977 | ||||||
Internet Retail3.84% |
||||||||
Amazon.com, Inc. (b) |
268,819 | 59,817,604 | ||||||
Netflix Inc. (b) |
103,587 | 27,553,106 | ||||||
Priceline.com Inc. (b) |
49,388 | 26,553,458 | ||||||
113,924,168 | ||||||||
Internet Software & Services5.69% |
||||||||
Baidu, Inc. -ADR (China)(b) |
519,212 | 81,552,629 | ||||||
Google, Inc. -Class A (b) |
144,457 | 87,207,246 | ||||||
168,759,875 | ||||||||
IT Consulting & Other Services4.57% |
||||||||
Accenture PLC -Class A (Ireland) |
1,445,925 | 85,512,005 | ||||||
Cognizant Technology Solutions Corp. -Class A
(b) |
714,468 | 49,919,879 | ||||||
135,431,884 | ||||||||
Life Sciences Tools & Services2.81% |
||||||||
Agilent Technologies, Inc. (b) |
839,569 | 35,396,229 | ||||||
Illumina, Inc. (b) |
478,335 | 29,872,021 | ||||||
Waters Corp. (b) |
205,791 | 18,086,971 | ||||||
83,355,221 | ||||||||
Managed Health Care2.19% |
||||||||
UnitedHealth Group, Inc. |
1,308,977 | 64,964,529 | ||||||
Movies & Entertainment0.99% |
||||||||
Walt Disney Co. (The) |
758,664 | 29,299,604 | ||||||
Oil & Gas Drilling0.57% |
||||||||
Ensco PLC -ADR (United Kingdom) |
317,796 | 16,922,637 | ||||||
Oil & Gas Equipment & Services9.38% |
||||||||
Baker Hughes Inc. |
427,474 | 33,077,938 | ||||||
Cameron International Corp. (b) |
676,609 | 37,849,507 | ||||||
Halliburton Co. |
1,339,680 | 73,320,686 | ||||||
National Oilwell Varco Inc. |
1,014,733 | 81,757,038 | ||||||
Weatherford International Ltd. (b) |
2,379,116 | 52,150,223 | ||||||
278,155,392 | ||||||||
Oil & Gas Exploration & Production1.59% |
||||||||
Anadarko Petroleum Corp. |
354,746 | 29,287,830 | ||||||
EOG Resources, Inc. |
175,184 | 17,868,768 | ||||||
47,156,598 | ||||||||
Other Diversified Financial Services1.35% |
||||||||
JPMorgan Chase & Co. |
988,053 | 39,966,744 | ||||||
Packaged Foods & Meats0.97% |
||||||||
Mead Johnson Nutrition Co. |
402,673 | 28,738,772 | ||||||
Pharmaceuticals1.11% |
||||||||
Allergan, Inc. |
405,708 | 32,988,117 | ||||||
Railroads1.39% |
||||||||
Union Pacific Corp. |
402,425 | 41,240,514 | ||||||
Restaurants1.29% |
||||||||
Chipotle Mexican Grill, Inc. (b) |
52,370 | 16,998,255 | ||||||
Krispy Kreme Doughnuts Inc. -Wts., expiring 03/02/12
(c) |
19,296 | 7,139 | ||||||
Starbucks Corp. |
527,809 | 21,159,863 | ||||||
38,165,257 | ||||||||
Semiconductors2.45% |
||||||||
Atmel Corp. (b) |
2,948,116 | 35,672,203 | ||||||
Broadcom Corp. -Class A (b) |
633,512 | 23,484,290 | ||||||
Xilinx, Inc. |
422,449 | 13,560,613 | ||||||
72,717,106 | ||||||||
Soft Drinks0.59% |
||||||||
Hansen Natural Corp. (b) |
227,428 | 17,425,533 | ||||||
Systems Software5.04% |
||||||||
Oracle Corp. |
1,407,552 | 43,042,940 | ||||||
Rovi Corp. (b) |
2,006,397 | 106,278,849 | ||||||
149,321,789 | ||||||||
Trucking1.69% |
||||||||
J.B. Hunt Transport Services, Inc. |
1,109,492 | 50,193,418 | ||||||
Wireless Telecommunication Services1.77% |
||||||||
America Movil SAB de C.V. -Series L -ADR (Mexico) |
795,064 | 20,512,651 | ||||||
American Tower Corp. -Class A (b) |
607,187 | 31,895,533 | ||||||
52,408,184 | ||||||||
TOTAL INVESTMENTS96.89% (Cost $2,400,449,905) |
2,872,398,391 | |||||||
OTHER ASSETS LESS LIABILITIES3.11% |
92,299,487 | |||||||
NET ASSETS100.00% |
$ | 2,964,697,878 | ||||||
Investment Abbreviations: | ||
ADR | American Depositary Receipt | |
Wts. | Warrants | |
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 & Poors. | |
(b) | Non-income producing security. | |
(c) | Non-income producing security acquired through a corporate action. |
A. | Security Valuations Securities, including restricted securities, are valued according to the following policy. |
Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments. | ||
B. | Securities Transactions and Investment Income Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. | |
The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held. | ||
Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Funds net asset value and, accordingly, they reduce the Funds total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser. | ||
The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class. | ||
C. | Country Determination For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuers securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted. | |
D. | Securities Lending The Fund may lend portfolio securities having a market value up to one-third of the Funds total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated money market funds and is shown as such on the Schedule of Investments. It is the Funds policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. Lending securities entails a risk of loss to the Fund if and to the extent that the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower fails to return the securities. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, is included in Dividends from affiliates on the Statement of Operations. The ag | |
E. | Foreign Currency Translations Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Funds books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized |
foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates. | ||
The Fund may invest in foreign securities which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. | ||
F. | Foreign Currency Contracts The Fund may enter into foreign currency contracts to manage or minimize currency or exchange rate risk. The Fund may also enter into foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to lock in the U.S. dollar price of that security. A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The use of foreign currency contracts does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with foreign currency contracts include failure of the counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities. |
Level 1
|
Prices are determined using quoted prices in an active market for identical assets. | |
Level 2
|
Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. | |
Level 3
|
Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Funds own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Equity Securities |
$ | 2,856,760,285 | $ | 15,638,106 | $ | | $ | 2,872,398,391 | ||||||||
Aggregate unrealized appreciation of investment securities |
$ | 542,859,014 | ||
Aggregate unrealized (depreciation) of investment securities |
(71,247,803 | ) | ||
Net unrealized appreciation of investment securities |
$ | 471,611,211 | ||
Cost of investments for tax purposes is $2,400,787,180. |
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||||
invesco.com/us
|
DDI-QTR-1 07/11 | Invesco Advisers, Inc. |
Shares | Value | |||||||
Common Stocks & Other Equity Interests94.14%(a) |
||||||||
Aerospace & Defense3.76% |
||||||||
General Dynamics Corp. |
1,173,352 | $ | 79,952,205 | |||||
Raytheon Co. |
1,510,203 | 67,551,380 | ||||||
147,503,585 | ||||||||
Apparel Retail0.45% |
||||||||
TJX Cos., Inc. (The) |
322,127 | 17,813,623 | ||||||
Asset Management & Custody Banks2.53% |
||||||||
Federated Investors, Inc. -Class B |
2,767,494 | 59,141,347 | ||||||
State Street Corp. |
959,010 | 39,770,144 | ||||||
98,911,491 | ||||||||
Auto Parts & Equipment1.45% |
||||||||
Johnson Controls, Inc. |
1,540,637 | 56,926,537 | ||||||
Brewers3.67% |
||||||||
Fosters Group Ltd. (Australia) |
8,484,856 | 47,077,672 | ||||||
Heineken N.V. (Netherlands) |
1,638,247 | 96,826,321 | ||||||
143,903,993 | ||||||||
Building Products1.62% |
||||||||
Masco Corp. |
6,023,003 | 63,542,682 | ||||||
Casinos & Gaming1.54% |
||||||||
International Game Technology |
3,246,523 | 60,352,863 | ||||||
Consumer Finance2.40% |
||||||||
Capital One Financial Corp. |
1,969,469 | 94,140,618 | ||||||
Data Processing & Outsourced Services2.13% |
||||||||
Automatic Data Processing, Inc. |
1,617,825 | 83,301,809 | ||||||
Department Stores0.35% |
||||||||
Nordstrom, Inc. |
273,757 | 13,731,651 | ||||||
Distillers & Vintners0.22% |
||||||||
Treasury Wine Estates Ltd. (Australia) |
2,248,986 | 8,500,106 | ||||||
Distributors0.34% |
||||||||
Genuine Parts Co. |
253,619 | 13,482,386 | ||||||
Diversified Banks2.29% |
||||||||
Societe Generale (France) |
1,161,423 | 57,308,880 | ||||||
U.S. Bancorp |
1,242,260 | 32,373,295 | ||||||
89,682,175 | ||||||||
Diversified Chemicals0.64% |
||||||||
E. I. du Pont de Nemours and Co. |
489,065 | 25,147,722 | ||||||
Drug Retail1.15% |
||||||||
Walgreen Co. |
1,153,944 | 45,049,974 | ||||||
Electric Utilities5.25% |
||||||||
American Electric Power Co., Inc. |
1,907,760 | 70,320,034 | ||||||
Entergy Corp. |
620,123 | 41,424,217 | ||||||
Exelon Corp. |
1,614,391 | 71,146,211 | ||||||
PPL Corp. |
821,646 | 22,923,923 | ||||||
205,814,385 | ||||||||
Electrical Components & Equipment0.80% |
||||||||
Emerson Electric Co. |
639,095 | 31,373,174 | ||||||
Food Distributors1.86% |
||||||||
Sysco Corp. |
2,383,918 | 72,924,052 | ||||||
Gas Utilities1.03% |
||||||||
AGL Resources, Inc. |
992,785 | 40,505,628 | ||||||
General Merchandise Stores1.78% |
||||||||
Target Corp. |
1,354,745 | 69,755,820 | ||||||
Health Care Equipment2.61% |
||||||||
Medtronic, Inc. |
1,138,724 | 41,051,000 | ||||||
Stryker Corp. |
1,128,554 | 61,325,625 | ||||||
102,376,625 | ||||||||
Hotels, Resorts & Cruise Lines1.78% |
||||||||
Accor S.A. (France) |
792,734 | 34,838,133 | ||||||
Marriott International Inc. -Class A |
1,070,115 | 34,778,738 | ||||||
69,616,871 | ||||||||
Household Products4.58% |
||||||||
Kimberly-Clark Corp. |
1,635,819 | 106,917,130 | ||||||
Procter & Gamble Co. (The) |
1,182,138 | 72,689,665 | ||||||
179,606,795 | ||||||||
Industrial Machinery4.14% |
||||||||
Illinois Tool Works Inc. |
674,982 | 33,614,104 | ||||||
Pentair, Inc. |
2,022,350 | 74,442,703 | ||||||
Snap-On, Inc. |
953,774 | 54,231,590 | ||||||
162,288,397 | ||||||||
Integrated Oil & Gas2.73% |
||||||||
Eni S.p.A. (Italy) |
2,318,443 | 50,270,639 | ||||||
Exxon Mobil Corp. |
368,338 | 29,389,689 | ||||||
Total S.A. (France) |
508,000 | 27,383,050 | ||||||
107,043,378 | ||||||||
Integrated Telecommunication Services0.31% |
||||||||
AT&T, Inc. |
419,485 | 12,274,131 | ||||||
Shares | Value | |||||||
Investment Banking & Brokerage1.50% |
||||||||
Charles Schwab Corp. (The) |
3,925,144 | $ | 58,602,400 | |||||
Life & Health Insurance1.86% |
||||||||
Lincoln National Corp. |
1,487,216 | 39,411,224 | ||||||
Prudential Financial, Inc. |
20,474 | 1,201,414 | ||||||
StanCorp Financial Group, Inc. |
967,513 | 32,179,483 | ||||||
72,792,121 | ||||||||
Motorcycle Manufacturers1.04% |
||||||||
Harley-Davidson, Inc. |
939,261 | 40,754,535 | ||||||
Movies & Entertainment1.23% |
||||||||
Time Warner, Inc. |
1,365,354 | 48,005,847 | ||||||
Multi-Utilities1.34% |
||||||||
Dominion Resources, Inc. |
1,085,748 | 52,604,491 | ||||||
Oil & Gas Equipment & Services0.50% |
||||||||
Baker Hughes, Inc. |
252,689 | 19,553,075 | ||||||
Oil & Gas Storage & Transportation0.80% |
||||||||
Southern Union Co. |
726,744 | 31,249,992 | ||||||
Packaged Foods & Meats7.19% |
||||||||
Campbell Soup Co. |
1,951,919 | 64,510,923 | ||||||
General Mills, Inc. |
2,585,592 | 96,571,861 | ||||||
Kraft Foods, Inc. -Class A |
2,011,702 | 69,162,315 | ||||||
Mead Johnson Nutrition Co. |
719,823 | 51,373,767 | ||||||
281,618,866 | ||||||||
Paper Products1.83% |
||||||||
International Paper Co. |
2,409,263 | 71,555,111 | ||||||
Pharmaceuticals5.05% |
||||||||
Bristol-Myers Squibb Co. |
1,037,099 | 29,723,257 | ||||||
Eli Lilly and Co. |
1,587,048 | 60,783,939 | ||||||
Johnson & Johnson |
1,259,776 | 81,620,887 | ||||||
Novartis AG (Switzerland) |
328,370 | 20,110,761 | ||||||
Pfizer, Inc. |
296,264 | 5,700,119 | ||||||
197,938,963 | ||||||||
Property & Casualty Insurance1.13% |
||||||||
Travelers Cos., Inc. (The) |
801,257 | 44,173,298 | ||||||
Regional Banks7.23% |
||||||||
Fifth Third Bancorp |
5,487,674 | 69,419,076 | ||||||
M&T Bank Corp. |
339,600 | 29,287,104 | ||||||
SunTrust Banks, Inc. |
4,395,729 | 107,651,403 | ||||||
Zions Bancorp. |
3,516,380 | 77,008,722 | ||||||
283,366,305 | ||||||||
Reinsurance0.09% |
||||||||
Transatlantic Holdings, Inc. |
69,489 | 3,558,532 | ||||||
Restaurants0.91% |
||||||||
Brinker International, Inc. |
1,485,708 | 35,686,706 | ||||||
Semiconductors1.55% |
||||||||
Linear Technology Corp. |
506,954 | 14,853,752 | ||||||
Texas Instruments, Inc. |
1,541,013 | 45,845,137 | ||||||
60,698,889 | ||||||||
Soft Drinks1.34% |
||||||||
Coca-Cola Co. (The) |
771,155 | 52,446,251 | ||||||
Specialized Consumer Services0.80% |
||||||||
H&R Block, Inc. |
2,103,074 | 31,461,987 | ||||||
Specialized REITs1.32% |
||||||||
Weyerhaeuser Co. |
2,594,608 | 51,866,214 | ||||||
Specialty Chemicals0.47% |
||||||||
Ecolab, Inc. |
368,338 | 18,416,900 | ||||||
Systems Software1.67% |
||||||||
Microsoft Corp. |
2,385,077 | 65,351,110 | ||||||
Thrifts & Mortgage Finance1.79% |
||||||||
Capitol Federal Financial, Inc. |
35,067 | 401,166 | ||||||
Hudson City Bancorp, Inc. |
8,418,347 | 69,451,363 | ||||||
69,852,529 | ||||||||
Tobacco2.09% |
||||||||
Altria Group, Inc. |
1,506,321 | 39,616,242 | ||||||
Philip Morris International, Inc. |
586,120 | 41,714,161 | ||||||
81,330,403 | ||||||||
Total Common Stocks & Other Equity Interests
(Cost $3,444,095,099) |
3,688,454,996 | |||||||
Money Market Funds5.77% |
||||||||
Liquid Assets Portfolio Institutional Class
(b) |
113,105,510 | 113,105,510 | ||||||
Premier Portfolio Institutional Class (b) |
113,105,509 | 113,105,509 | ||||||
Total Money Market Funds
(Cost $226,211,019) |
226,211,019 | |||||||
TOTAL INVESTMENTS99.91%
(Cost $3,670,306,118) |
3,914,666,015 | |||||||
OTHER ASSETS LESS LIABILITIES0.09% |
3,554,059 | |||||||
NET ASSETS100.00% |
$ | 3,918,220,074 | ||||||
(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 & Poors. | |
(b) | The money market fund and the Fund are affiliated by having the same investment adviser. |
A. | Security Valuations Securities, including restricted securities, are valued according to the following policy. |
Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments. |
B. | Securities Transactions and Investment Income Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. |
C. | Country Determination For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuers securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted. |
D. | Foreign Currency Translations Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Funds books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates. |
E. | Foreign Currency Contracts The Fund may enter into foreign currency contracts to manage or minimize currency or exchange rate risk. The Fund may also enter into foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to lock in the U.S. dollar price of that security. A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The use of foreign currency contracts does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with foreign currency contracts include failure of the counterparty to meet the terms of the contract and the |
value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities. |
Level 1 | Prices are determined using quoted prices in an active market for identical assets. | ||
Level 2 | Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. | ||
Level 3 | Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Funds own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Equity Securities |
$ | 3,627,928,231 | $ | 286,737,784 | $ | | $ | 3,914,666,015 | ||||||||
Aggregate unrealized appreciation of investment securities |
$ | 424,718,490 | ||
Aggregate unrealized (depreciation) of investment securities |
(180,024,012 | ) | ||
Net unrealized appreciation of investment securities |
$ | 244,694,478 | ||
Cost of investments for tax purposes is $3,669,971,537. |
![]() |
||||
invesco.com/us |
DEQ-QTR-1 07/11 | Invesco Advisers, Inc. |
Shares | Value | |||||||
Common Stocks & Other Equity Interests95.65%(a) |
||||||||
Aerospace & Defense2.00% |
||||||||
United Technologies Corp. |
54,033 | $ | 4,476,094 | |||||
Apparel Retail2.12% |
||||||||
TJX Cos., Inc. (The) |
85,619 | 4,734,731 | ||||||
Apparel, Accessories & Luxury Goods1.76% |
||||||||
VF Corp. |
33,695 | 3,935,576 | ||||||
Asset Management & Custody Banks1.68% |
||||||||
BlackRock, Inc. |
21,060 | 3,758,368 | ||||||
Automobile Manufacturers1.23% |
||||||||
Ford Motor Co. (b) |
224,655 | 2,743,038 | ||||||
Cable & Satellite2.85% |
||||||||
Comcast Corp. -Class A |
153,969 | 3,698,335 | ||||||
Liberty Global, Inc. -Class A (b) |
63,566 | 2,657,059 | ||||||
6,355,394 | ||||||||
Communications Equipment1.97% |
||||||||
Cisco Systems, Inc. |
274,916 | 4,390,409 | ||||||
Computer Hardware2.91% |
||||||||
Apple, Inc. (b) |
16,620 | 6,489,778 | ||||||
Data Processing & Outsourced Services10.80% |
||||||||
Alliance Data Systems Corp. (b) |
48,195 | 4,739,496 | ||||||
Automatic Data Processing, Inc. |
104,599 | 5,385,803 | ||||||
Fidelity National Information Services, Inc. |
104,818 | 3,146,636 | ||||||
Fiserv, Inc. (b) |
57,573 | 3,475,106 | ||||||
Visa, Inc. -Class A |
51,392 | 4,396,072 | ||||||
Western Union Co. |
152,783 | 2,965,518 | ||||||
24,108,631 | ||||||||
Diversified Banks2.29% |
||||||||
Wells Fargo & Co. |
183,003 | 5,113,104 | ||||||
Drug Retail3.02% |
||||||||
CVS Caremark Corp. |
49,331 | 1,793,182 | ||||||
Walgreen Co. |
126,710 | 4,946,758 | ||||||
6,739,940 | ||||||||
Environmental & Facilities Services0.89% |
||||||||
Republic Services, Inc. |
68,565 | 1,990,442 | ||||||
Footwear0.89% |
||||||||
NIKE, Inc. -Class B |
22,096 | 1,991,954 | ||||||
General Merchandise Stores2.68% |
||||||||
Target Corp. |
116,396 | 5,993,230 | ||||||
Health Care Equipment1.24% |
||||||||
Stryker Corp. |
50,945 | 2,768,351 | ||||||
Health Care Services0.73% |
||||||||
Express Scripts, Inc. (b) |
29,865 | 1,620,475 | ||||||
Home Improvement Retail0.00% |
||||||||
Lowes Cos., Inc. |
1 | 22 | ||||||
Household Products1.54% |
||||||||
Procter & Gamble Co. (The) |
55,970 | 3,441,595 | ||||||
Industrial Conglomerates3.57% |
||||||||
Danaher Corp. |
46,347 | 2,276,101 | ||||||
General Electric Co. |
318,559 | 5,705,392 | ||||||
7,981,493 | ||||||||
Industrial Gases1.88% |
||||||||
Praxair, Inc. |
40,568 | 4,204,468 | ||||||
Integrated Oil & Gas1.52% |
||||||||
Exxon Mobil Corp. |
42,401 | 3,383,176 | ||||||
Internet Software & Services2.30% |
||||||||
Google, Inc. -Class A (b) |
8,505 | 5,134,383 | ||||||
IT Consulting & Other Services3.63% |
||||||||
Accenture PLC -Class A (Ireland) |
58,217 | 3,442,953 | ||||||
International Business Machines Corp. |
25,696 | 4,672,818 | ||||||
8,115,771 | ||||||||
Managed Health Care3.71% |
||||||||
Aetna, Inc. |
73,734 | 3,059,224 | ||||||
UnitedHealth Group, Inc. |
105,285 | 5,225,294 | ||||||
8,284,518 | ||||||||
Multi-Utilities1.44% |
||||||||
PG&E Corp. |
77,472 | 3,209,665 | ||||||
Oil & Gas Exploration & Production7.88% |
||||||||
Anadarko Petroleum Corp. |
26,994 | 2,228,625 | ||||||
Apache Corp. |
29,491 | 3,648,627 | ||||||
EQT Corp. |
70,617 | 4,482,767 | ||||||
QEP Resources, Inc. |
91,015 | 3,989,187 | ||||||
Whiting Petroleum Corp. (b) |
55,470 | 3,250,542 | ||||||
17,599,748 | ||||||||
Oil & Gas Storage & Transportation3.07% |
||||||||
Spectra Energy Corp. |
68,201 | 1,842,791 | ||||||
Shares | Value | |||||||
Oil & Gas Storage & Transportation(continued) |
||||||||
Williams Cos., Inc. (The) |
158,236 | $ | 5,016,081 | |||||
6,858,872 | ||||||||
Other Diversified Financial Services5.34% |
||||||||
Bank of America Corp. |
364,311 | 3,537,460 | ||||||
Citigroup, Inc. |
107,813 | 4,133,550 | ||||||
JPMorgan Chase & Co. |
105,006 | 4,247,493 | ||||||
11,918,503 | ||||||||
Packaged Foods & Meats2.43% |
||||||||
H.J. Heinz Co. |
103,106 | 5,427,500 | ||||||
Pharmaceuticals3.01% |
||||||||
Abbott Laboratories |
59,101 | 3,033,063 | ||||||
Merck & Co., Inc. |
107,962 | 3,684,743 | ||||||
6,717,806 | ||||||||
Railroads1.22% |
||||||||
Norfolk Southern Corp. |
35,973 | 2,723,156 | ||||||
Restaurants2.23% |
||||||||
McDonalds Corp. |
57,580 | 4,979,518 | ||||||
Soft Drinks2.80% |
||||||||
PepsiCo, Inc. |
97,456 | 6,241,082 | ||||||
Specialized Finance1.51% |
||||||||
CME Group, Inc. |
11,655 | 3,370,509 | ||||||
Specialty Chemicals1.99% |
||||||||
Nalco Holding Co. |
95,264 | 3,367,582 | ||||||
Valspar Corp. (The) |
32,725 | 1,075,671 | ||||||
4,443,253 | ||||||||
Systems Software5.52% |
||||||||
BMC Software, Inc. (b) |
42,834 | 1,851,285 | ||||||
Microsoft Corp. |
181,998 | 4,986,745 | ||||||
Oracle Corp. |
179,470 | 5,488,193 | ||||||
12,326,223 | ||||||||
Total Common Stocks & Other Equity Interests
(Cost $179,845,331) |
213,570,776 | |||||||
Money Market Funds4.10% |
||||||||
Liquid Assets Portfolio Institutional
Class (c) |
4,573,324 | 4,573,324 | ||||||
Premier Portfolio Institutional Class
(c) |
4,573,323 | 4,573,323 | ||||||
Total Money Market Funds
(Cost $9,146,647) |
9,146,647 | |||||||
TOTAL INVESTMENTS99.75%
(Cost $188,991,978) |
222,717,423 | |||||||
OTHER ASSETS LESS LIABILITIES0.25% |
567,195 | |||||||
NET ASSETS100.00% |
$ | 223,284,618 | ||||||
(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 & Poors. | |
(b) | Non-income producing security. | |
(c) | The money market fund and the Fund are affiliated by having the same investment adviser. |
A. | Security Valuations Securities, including restricted securities, are valued according to the following policy. |
Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments. |
B. | Securities Transactions and Investment Income Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. |
C. | Country Determination For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuers securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted. |
Level 1 | Prices are determined using quoted prices in an active market for identical assets. | ||
Level 2 | Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. | ||
Level 3 | Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Funds own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Equity Securities |
$ | 222,717,423 | $ | | $ | | $ | 222,717,423 | ||||||||
Aggregate unrealized appreciation of investment securities |
$ | 40,580,820 | ||
Aggregate unrealized (depreciation) of investment securities |
(9,826,893 | ) | ||
Net unrealized appreciation of investment securities |
$ | 30,753,927 | ||
Cost of investments for tax purposes is $191,963,496. |
![]() |
||||
invesco.com/us
|
SUM-QTR-1 07/11 | Invesco Advisers, Inc. |
Shares | Value | |||||||
Common Stocks & Other Equity Interests97.21%(a) |
||||||||
Aerospace & Defense2.58% |
||||||||
Honeywell International Inc. |
174,229 | $ | 9,251,560 | |||||
Precision Castparts Corp. |
120,751 | 19,486,796 | ||||||
Rockwell Collins, Inc. |
272,869 | 15,032,353 | ||||||
43,770,709 | ||||||||
Apparel, Accessories & Luxury Goods2.29% |
||||||||
Coach, Inc. |
461,352 | 29,784,885 | ||||||
Prada S.p.A. (Italy)(b) |
1,487,500 | 9,065,816 | ||||||
38,850,701 | ||||||||
Asset Management & Custody Banks0.83% |
||||||||
Affiliated Managers Group, Inc. (b) |
59,525 | 6,210,243 | ||||||
Ameriprise Financial, Inc. |
145,666 | 7,880,531 | ||||||
14,090,774 | ||||||||
Auto Parts & Equipment1.45% |
||||||||
Autoliv, Inc. (Sweden) |
117,716 | 7,788,091 | ||||||
Johnson Controls, Inc. |
227,312 | 8,399,178 | ||||||
Tenneco Inc. (b) |
209,269 | 8,358,204 | ||||||
24,545,473 | ||||||||
Automobile Manufacturers0.56% |
||||||||
Honda Motor Co., Ltd. (Japan) |
236,600 | 9,448,861 | ||||||
Biotechnology3.17% |
||||||||
Acorda Therapeutics, Inc. (b) |
433,098 | 12,299,983 | ||||||
Amgen Inc. |
226,832 | 12,407,711 | ||||||
Gilead Sciences, Inc. (b) |
580,912 | 24,607,432 | ||||||
Human Genome Sciences, Inc. (b) |
211,963 | 4,453,343 | ||||||
53,768,469 | ||||||||
Broadcasting1.28% |
||||||||
Scripps Networks Interactive -Class A |
468,537 | 21,712,005 | ||||||
Cable & Satellite3.07% |
||||||||
Comcast Corp. -Class A |
918,685 | 22,066,814 | ||||||
DIRECTV -Class A (b) |
592,215 | 30,013,456 | ||||||
52,080,270 | ||||||||
Communications Equipment2.49% |
||||||||
F5 Networks, Inc. (b) |
169,340 | 15,829,903 | ||||||
QUALCOMM, Inc. |
482,275 | 26,419,025 | ||||||
42,248,928 | ||||||||
Computer Hardware5.87% |
||||||||
Apple Inc. (b) |
255,314 | 99,695,011 | ||||||
Computer Storage & Peripherals1.97% |
||||||||
EMC Corp. (b) |
1,279,703 | 33,374,654 | ||||||
Construction & Engineering1.30% |
||||||||
Fluor Corp. |
91,001 | 5,781,293 | ||||||
Foster Wheeler AG (Switzerland)(b) |
600,497 | 16,273,469 | ||||||
22,054,762 | ||||||||
Construction & Farm Machinery & Heavy Trucks3.25% |
||||||||
AGCO Corp. (b) |
159,716 | 7,573,733 | ||||||
Cummins Inc. |
107,649 | 11,290,227 | ||||||
Komatsu Ltd. (Japan) |
255,900 | 7,984,747 | ||||||
Navistar International Corp. (b) |
370,801 | 19,025,799 | ||||||
Terex Corp. (b) |
423,359 | 9,402,803 | ||||||
55,277,309 | ||||||||
Consumer Finance0.51% |
||||||||
American Express Co. |
172,103 | 8,612,034 | ||||||
Data Processing & Outsourced Services2.64% |
||||||||
Genpact Ltd. (Bermuda)(b) |
794,944 | 13,116,576 | ||||||
MasterCard, Inc. -Class A |
36,696 | 11,128,062 | ||||||
Visa Inc. -Class A |
240,923 | 20,608,553 | ||||||
44,853,191 | ||||||||
Department Stores1.05% |
||||||||
Kohls Corp. |
324,485 | 17,752,574 | ||||||
Diversified Banks0.91% |
||||||||
Banco Bradesco S.A. -ADR (Brazil) |
533,233 | 10,254,071 | ||||||
Comerica, Inc. |
159,977 | 5,124,063 | ||||||
15,378,134 | ||||||||
Electrical Components & Equipment0.89% |
||||||||
Cooper Industries PLC -Class A (Ireland) |
290,302 | 15,185,698 | ||||||
Electronic Components0.95% |
||||||||
Amphenol Corp. -Class A |
328,947 | 16,082,219 | ||||||
Fertilizers & Agricultural Chemicals2.24% |
||||||||
Monsanto Co. |
269,715 | 19,818,658 | ||||||
Mosaic Co. (The) |
256,704 | 18,154,107 | ||||||
37,972,765 | ||||||||
Food Retail0.35% |
||||||||
Kroger Co. (The) |
238,909 | 5,941,667 | ||||||
Footwear0.88% |
||||||||
Deckers Outdoor Corp. (b) |
151,224 | 15,008,982 | ||||||
Shares | Value | |||||||
Gold0.90% |
||||||||
Goldcorp, Inc. (Canada) |
320,468 | $ | 15,321,575 | |||||
Health Care Distributors0.43% |
||||||||
Owens & Minor, Inc. |
238,993 | 7,289,287 | ||||||
Health Care Services1.98% |
||||||||
Express Scripts, Inc. (b) |
252,179 | 13,683,232 | ||||||
Medco Health Solutions, Inc. (b) |
317,470 | 19,962,514 | ||||||
33,645,746 | ||||||||
Health Care Technology0.72% |
||||||||
Allscripts Healthcare Solutions, Inc. (b) |
677,128 | 12,289,873 | ||||||
Heavy Electrical Equipment0.96% |
||||||||
ABB Ltd. (Switzerland)(b) |
680,007 | 16,243,653 | ||||||
Home Improvement Retail1.00% |
||||||||
Home Depot, Inc. (The) |
485,895 | 16,972,312 | ||||||
Homefurnishing Retail1.44% |
||||||||
Bed Bath & Beyond Inc. (b) |
419,039 | 24,509,591 | ||||||
Hotels, Resorts & Cruise Lines1.06% |
||||||||
Royal Caribbean Cruises Ltd. (b) |
588,365 | 18,015,736 | ||||||
Household Products0.49% |
||||||||
Procter & Gamble Co. (The) |
135,826 | 8,351,941 | ||||||
Hypermarkets & Super Centers1.72% |
||||||||
Costco Wholesale Corp. |
373,190 | 29,202,118 | ||||||
Industrial Gases0.64% |
||||||||
Praxair, Inc. |
105,435 | 10,927,283 | ||||||
Industrial Machinery2.64% |
||||||||
Illinois Tool Works Inc. |
197,964 | 9,858,607 | ||||||
Ingersoll-Rand PLC (Ireland) |
586,474 | 21,945,857 | ||||||
Kennametal Inc. |
329,804 | 13,004,172 | ||||||
44,808,636 | ||||||||
Integrated Oil & Gas3.64% |
||||||||
Exxon Mobil Corp. |
318,871 | 25,442,717 | ||||||
Occidental Petroleum Corp. |
371,228 | 36,447,165 | ||||||
61,889,882 | ||||||||
Internet Retail1.84% |
||||||||
Amazon.com, Inc. (b) |
140,350 | 31,230,682 | ||||||
Internet Software & Services2.32% |
||||||||
Google, Inc. -Class A (b) |
52,321 | 31,585,664 | ||||||
VeriSign, Inc. |
250,118 | 7,806,183 | ||||||
39,391,847 | ||||||||
Investment Banking & Brokerage1.10% |
||||||||
Goldman Sachs Group, Inc. (The) |
82,640 | 11,153,921 | ||||||
Jefferies Group, Inc. |
400,000 | 7,564,000 | ||||||
18,717,921 | ||||||||
IT Consulting & Other Services2.11% |
||||||||
Accenture PLC -Class A (Ireland) |
504,147 | 29,815,253 | ||||||
Cognizant Technology Solutions Corp. -Class A
(b) |
85,564 | 5,978,357 | ||||||
35,793,610 | ||||||||
Life Sciences Tools & Services0.71% |
||||||||
Agilent Technologies, Inc. |
284,903 | 12,011,510 | ||||||
Managed Health Care2.68% |
||||||||
UnitedHealth Group, Inc. |
361,519 | 17,942,188 | ||||||
WellPoint, Inc. |
409,324 | 27,649,836 | ||||||
45,592,024 | ||||||||
Oil & Gas Equipment & Services6.46% |
||||||||
Baker Hughes Inc. |
240,703 | 18,625,598 | ||||||
Cameron International Corp. (b) |
357,304 | 19,987,586 | ||||||
Halliburton Co. |
340,194 | 18,618,818 | ||||||
Schlumberger Ltd. |
353,188 | 31,917,599 | ||||||
Superior Energy Services, Inc. (b) |
495,394 | 20,553,897 | ||||||
109,703,498 | ||||||||
Oil & Gas Exploration & Production0.68% |
||||||||
Apache Corp. |
93,812 | 11,606,421 | ||||||
Other Diversified Financial Services1.17% |
||||||||
JPMorgan Chase & Co. |
490,710 | 19,849,220 | ||||||
Packaged Foods & Meats1.53% |
||||||||
Green Mountain Coffee Roasters, Inc. (b) |
250,358 | 26,024,714 | ||||||
Pharmaceuticals2.78% |
||||||||
Abbott Laboratories |
261,563 | 13,423,413 | ||||||
Medicis Pharmaceutical Corp. -Class A |
228,000 | 8,477,040 | ||||||
Pfizer Inc. |
953,162 | 18,338,837 | ||||||
Shire PLC (United Kingdom) |
199,368 | 6,905,529 | ||||||
47,144,819 | ||||||||
Railroads1.06% |
||||||||
Union Pacific Corp. |
176,457 | 18,083,313 | ||||||
Semiconductor Equipment1.52% |
||||||||
MEMC Electronic Materials, Inc. (b) |
782,637 | 5,807,167 | ||||||
Novellus Systems, Inc. (b) |
472,126 | 14,654,791 | ||||||
Veeco Instruments Inc. (b)(c) |
134,094 | 5,335,600 | ||||||
25,797,558 | ||||||||
Semiconductors2.13% |
||||||||
Broadcom Corp. -Class A (b) |
434,750 | 16,116,182 | ||||||
Micron Technology, Inc. (b) |
1,386,823 | 10,220,886 | ||||||
Xilinx, Inc. |
307,698 | 9,877,106 | ||||||
36,214,174 |
Shares | Value | |||||||
Soft Drinks2.16% |
||||||||
Coca-Cola Co. (The) |
206,169 | $ | 14,021,553 | |||||
Hansen Natural Corp. (b) |
64,627 | 4,951,721 | ||||||
PepsiCo, Inc. |
276,751 | 17,723,134 | ||||||
36,696,408 | ||||||||
Specialty Chemicals0.36% |
||||||||
Rockwood Holdings, Inc. (b) |
100,329 | 6,066,895 | ||||||
Specialty Stores0.46% |
||||||||
Vitamin Shoppe, Inc. (b) |
178,826 | 7,789,661 | ||||||
Systems Software4.33% |
||||||||
Check Point Software Technologies Ltd.
(Israel)(b) |
447,775 | 25,814,229 | ||||||
Oracle Corp. |
704,192 | 21,534,191 | ||||||
Rovi Corp. (b) |
493,617 | 26,146,893 | ||||||
73,495,313 | ||||||||
Technology Distributors1.08% |
||||||||
Avnet, Inc. (b) |
625,706 | 18,333,186 | ||||||
Trading Companies & Distributors0.48% |
||||||||
Air Lease Corp. (b)(c) |
334,584 | 8,173,887 | ||||||
Trucking2.10% |
||||||||
J.B. Hunt Transport Services, Inc. |
631,012 | 28,546,983 | ||||||
Ryder System, Inc. |
127,085 | 7,157,427 | ||||||
35,704,410 | ||||||||
Total Common Stocks & Other Equity Interests
(Cost $1,332,814,341) |
1,650,593,894 | |||||||
Money Market Funds2.69% |
||||||||
Liquid Assets Portfolio Institutional Class
(d) |
22,882,443 | 22,882,443 | ||||||
Premier Portfolio Institutional Class
(d) |
22,882,444 | 22,882,444 | ||||||
Total Money Market Funds
(Cost $45,764,887) |
45,764,887 | |||||||
TOTAL INVESTMENTS (excluding investments purchased with cash collateral from
securities on loan)99.90%
(Cost $1,378,579,228) |
1,696,358,781 | |||||||
Investments Purchased with Cash Collateral from Securities on Loan |
||||||||
Money Market Funds0.45% |
||||||||
Liquid Assets Portfolio Institutional Class
(Cost $7,627,390)(d)(e) |
7,627,390 | 7,627,390 | ||||||
TOTAL INVESTMENTS100.35%
(Cost $1,386,206,618) |
1,703,986,171 | |||||||
OTHER ASSETS LESS LIABILITIES(0.35)% |
(5,973,805 | ) | ||||||
NET ASSETS100.00% |
$ | 1,698,012,366 | ||||||
(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 & Poors. | |
(b) | Non-income producing security. | |
(c) | All or a portion of this security was out on loan at July 31, 2011. | |
(d) | The money market fund and the Fund are affiliated by having the same investment adviser. | |
(e) | The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrowers return of the securities loaned. See Note 1D. |
A. | Security Valuations Securities, including restricted securities, are valued according to the following policy. |
Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments. |
B. | Securities Transactions and Investment Income Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. |
C. | Country Determination For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuers securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted. |
D. | Securities Lending The Fund may lend portfolio securities having a market value up to one-third of the Funds total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated money market funds and is shown as such on the Schedule of Investments. It is the Funds policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. Lending securities entails a risk of loss to the Fund if and to the extent that the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower fails to return the securities. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, is included in Dividends from affiliates on the Statement of Operations. The aggregate value of securities out on loan is shown as a footnote on the Statement of Assets and Liabilities, if any. |
E. | Foreign Currency Translations Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes |
recorded on the Funds books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates. |
F. | Foreign Currency Contracts The Fund may enter into foreign currency contracts to manage or minimize currency or exchange rate risk. The Fund may also enter into foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to lock in the U.S. dollar price of that security. A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The use of foreign currency contracts does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with foreign currency contracts include failure of the counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities. |
Level 1 | Prices are determined using quoted prices in an active market for identical assets. |
Level 2 | Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. |
Level 3 | Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Funds own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Equity Securities |
$ | 1,663,403,381 | $ | 40,582,790 | $ | | $ | 1,703,986,171 | ||||||||
Aggregate unrealized appreciation of investment securities |
$ | 371,985,305 | ||
Aggregate unrealized (depreciation) of investment securities |
(54,721,918 | ) | ||
Net unrealized appreciation of investment securities |
$ | 317,263,387 | ||
Cost of investments for tax purposes is $1,386,722,784. |
(a) | As of September 16, 2011, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the Principal Executive Officer (PEO) and Principal Financial Officer (PFO), to assess the effectiveness of the Registrants disclosure controls and procedures, as that term is defined in Rule 30a-3(c) under the Investment Company Act of 1940 (Act), as amended. Based on that evaluation, the Registrants officers, including the PEO and PFO, concluded that, as of September 16, 2011, the Registrants disclosure controls and procedures were reasonably designed so as to ensure: (1) that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure. |
(b) | There have been no changes in the Registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the Registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrants internal control over financial reporting. |
Certifications of PEO and PFO as required by Rule 30a-2(a) under the Investment Company Act of 1940. |
Registrant: AIM Equity Funds (Invesco Equity Funds) |
||||
By: | /s/ Philip A. Taylor | |||
Philip A. Taylor | ||||
Principal Executive Officer |
By: | /s/ Philip A. Taylor | |||
Philip A. Taylor | ||||
Principal Executive Officer |
By: | /s/ Sheri Morris | |||
Sheri Morris | ||||
Principal Financial Officer |
Date: September 29, 2011 | /s/ Philip A. Taylor | |||
Philip A. Taylor, Principal Executive Officer | ||||
Date: September 29, 2011 | /s/ Sheri Morris | |||
Sheri Morris, Principal Financial Officer | ||||
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