NPORT-EX 2 edgar.htm
Schedule of Investments(a)
July 31, 2023
(Unaudited)
  Shares Value
Common Stocks & Other Equity Interests–99.14%
Aerospace & Defense–2.50%
Howmet Aerospace, Inc. 613,989    $31,399,398
RTX Corp. 479,970    42,203,762
      73,603,160
Agricultural & Farm Machinery–1.00%
Deere & Co. 68,637    29,486,455
Air Freight & Logistics–1.36%
United Parcel Service, Inc., Class B 213,963    40,038,896
Apparel, Accessories & Luxury Goods–0.64%
LVMH Moet Hennessy Louis Vuitton SE (France) 19,998    18,669,660
Application Software–0.92%
Intuit, Inc. 52,925    27,081,723
Asset Management & Custody Banks–1.46%
BlackRock, Inc. 58,186    42,990,726
Cable & Satellite–1.60%
Comcast Corp., Class A 1,036,177    46,897,371
Communications Equipment–1.08%
Motorola Solutions, Inc. 111,083    31,839,720
Construction Materials–0.99%
Vulcan Materials Co. 131,517    28,999,498
Consumer Finance–1.23%
American Express Co. 214,682    36,255,496
Consumer Staples Merchandise Retail–1.97%
Walmart, Inc. 362,029    57,873,956
Distillers & Vintners–1.34%
Constellation Brands, Inc., Class A 144,221    39,343,489
Distributors–0.66%
LKQ Corp. 355,437    19,474,393
Diversified Banks–2.25%
JPMorgan Chase & Co. 418,429    66,095,045
Electric Utilities–1.17%
American Electric Power Co., Inc. 405,796    34,387,153
Electrical Components & Equipment–0.67%
Hubbell, Inc. 62,740    19,574,880
Electronic Manufacturing Services–1.41%
TE Connectivity Ltd. 287,974    41,321,389
Environmental & Facilities Services–1.20%
Republic Services, Inc. 233,953    35,352,638
Fertilizers & Agricultural Chemicals–0.57%
Mosaic Co. (The) 413,027    16,834,981
Financial Exchanges & Data–2.63%
CME Group, Inc., Class A 177,309    35,277,399
  Shares Value
Financial Exchanges & Data–(continued)
S&P Global, Inc. 106,249    $41,916,293
      77,193,692
Food Distributors–0.87%
Sysco Corp. 336,671    25,691,364
Health Care Equipment–4.58%
Baxter International, Inc. 368,004    16,644,821
Becton, Dickinson and Co. 161,156    44,901,285
Stryker Corp. 147,969    41,935,894
Zimmer Biomet Holdings, Inc. 226,534    31,295,672
      134,777,672
Home Improvement Retail–1.90%
Lowe’s Cos., Inc. 237,920    55,737,518
Household Products–2.05%
Procter & Gamble Co. (The) 386,219    60,366,030
Industrial Conglomerates–1.23%
Honeywell International, Inc. 185,611    36,032,663
Industrial Machinery & Supplies & Components–2.11%
Otis Worldwide Corp. 349,201    31,763,323
Parker-Hannifin Corp. 74,013    30,346,070
      62,109,393
Industrial REITs–1.54%
Prologis, Inc. 362,105    45,172,599
Insurance Brokers–1.21%
Marsh & McLennan Cos., Inc. 188,768    35,567,667
Integrated Oil & Gas–2.04%
Chevron Corp. 365,638    59,840,315
Integrated Telecommunication Services–0.73%
Deutsche Telekom AG (Germany) 989,673    21,589,608
Interactive Home Entertainment–0.95%
Electronic Arts, Inc. 205,229    27,982,974
Investment Banking & Brokerage–1.10%
Charles Schwab Corp. (The) 489,049    32,326,139
IT Consulting & Other Services–1.67%
Accenture PLC, Class A 154,905    49,004,197
Life Sciences Tools & Services–1.42%
Danaher Corp. 163,952    41,817,597
Managed Health Care–2.14%
UnitedHealth Group, Inc. 124,370    62,977,237
Multi-line Insurance–0.93%
Hartford Financial Services Group, Inc. (The) 379,138    27,252,439
Multi-Utilities–1.90%
Dominion Energy, Inc. 503,814    26,979,239
 
See accompanying notes which are an integral part of this schedule.
Invesco Rising Dividends Fund
  Shares Value
Multi-Utilities–(continued)
WEC Energy Group, Inc. 319,723    $28,730,309
      55,709,548
Oil & Gas Exploration & Production–2.04%
APA Corp. 454,753    18,412,949
ConocoPhillips 352,175    41,458,041
      59,870,990
Oil & Gas Storage & Transportation–0.93%
Cheniere Energy, Inc. 169,655    27,460,358
Pharmaceuticals–7.82%
AstraZeneca PLC, ADR (United Kingdom) 465,413    33,370,112
Eli Lilly and Co. 90,529    41,149,957
Johnson & Johnson 350,009    58,637,008
Merck & Co., Inc. 369,037    39,357,796
Pfizer, Inc. 744,298    26,839,386
Zoetis, Inc. 162,662    30,595,095
      229,949,354
Rail Transportation–1.65%
Union Pacific Corp. 208,817    48,449,720
Regional Banks–0.87%
M&T Bank Corp. 181,888    25,438,856
Restaurants–2.87%
McDonald’s Corp. 146,718    43,017,717
Starbucks Corp. 408,377    41,478,852
      84,496,569
Semiconductor Materials & Equipment–2.36%
Applied Materials, Inc. 275,049    41,694,678
ASML Holding N.V., New York Shares (Netherlands) 38,497    27,579,636
      69,274,314
Semiconductors–4.88%
Broadcom, Inc. 62,000    55,716,300
NVIDIA Corp. 187,584    87,656,127
      143,372,427
Soft Drinks & Non-alcoholic Beverages–1.76%
PepsiCo, Inc. 276,443    51,822,005
Specialty Chemicals–1.75%
DuPont de Nemours, Inc. 394,195    30,601,358
  Shares Value
Specialty Chemicals–(continued)
PPG Industries, Inc. 145,307    $20,909,677
      51,511,035
Systems Software–7.47%
Microsoft Corp. 654,064   219,713,179
Technology Hardware, Storage & Peripherals–5.31%
Apple, Inc. 794,159   156,012,536
Telecom Tower REITs–1.10%
American Tower Corp. 170,292    32,408,271
Tobacco–1.11%
Philip Morris International, Inc. 327,373    32,645,636
Transaction & Payment Processing Services–2.20%
Visa, Inc., Class A(b) 271,732    64,598,848
Total Common Stocks & Other Equity Interests (Cost $1,840,159,039) 2,914,293,379
Money Market Funds–0.77%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(c)(d) 7,831,220     7,831,220
Invesco Liquid Assets Portfolio, Institutional Class, 5.28%(c)(d) 5,718,924     5,719,496
Invesco Treasury Portfolio, Institutional Class, 5.18%(c)(d) 8,949,965     8,949,965
Total Money Market Funds (Cost $22,500,077) 22,500,681
TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-99.91% (Cost $1,862,659,116)     2,936,794,060
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds–2.20%
Invesco Private Government Fund, 5.24%(c)(d)(e) 18,116,737    18,116,737
Invesco Private Prime Fund, 5.38%(c)(d)(e) 46,585,896    46,585,896
Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $64,698,467) 64,702,633
TOTAL INVESTMENTS IN SECURITIES–102.11% (Cost $1,927,357,583) 3,001,496,693
OTHER ASSETS LESS LIABILITIES—(2.11)% (61,998,680)
NET ASSETS–100.00% $2,939,498,013
Investment Abbreviations:
ADR – American Depositary Receipt
REIT – Real Estate Investment Trust
See accompanying notes which are an integral part of this schedule.
Invesco Rising Dividends Fund
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) All or a portion of this security was out on loan at July 31, 2023.
(c) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended July 31, 2023.
    
  Value
October 31, 2022 		Purchases
at Cost 		Proceeds
from Sales 		Change in
Unrealized
Appreciation
(Depreciation) 		Realized
Gain
(Loss) 		Value
July 31, 2023 		Dividend Income
Investments in Affiliated Money Market Funds:              
Invesco Government & Agency Portfolio, Institutional Class $10,129,054 $94,652,011 $(96,949,845) $- $- $7,831,220 $475,111
Invesco Liquid Assets Portfolio, Institutional Class 7,529,405 67,608,579 (69,419,582) (186) 1,280 5,719,496 345,139
Invesco Treasury Portfolio, Institutional Class 11,576,061 108,173,727 (110,799,823) - - 8,949,965 530,292
Investments Purchased with Cash Collateral from Securities on Loan:              
Invesco Private Government Fund 33,912,047 194,777,786 (210,573,096) - - 18,116,737 829,199*
Invesco Private Prime Fund 87,205,356 339,833,227 (380,452,050) 2,722 (3,359) 46,585,896 2,213,854*
Total $150,351,923 $805,045,330 $(868,194,396) $2,536 $(2,079) $87,203,314 $4,393,595
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
    
(d) The rate shown is the 7-day SEC standardized yield as of July 31, 2023.
(e) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Invesco Rising Dividends Fund
Notes to Quarterly Schedule of Portfolio Holdings
July 31, 2023
(Unaudited)
NOTE 1—Additional Valuation Information
Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:
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 Invesco Advisers, Inc.’s 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.
The following is a summary of the tiered valuation input levels, as of July 31, 2023. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. 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.
  Level 1 Level 2 Level 3 Total
Investments in Securities        
Common Stocks & Other Equity Interests $2,874,034,111 $40,259,268 $— $2,914,293,379
Money Market Funds 22,500,681 64,702,633 — 87,203,314
Total Investments $2,896,534,792 $104,961,901 $— $3,001,496,693
Invesco Rising Dividends Fund