NPORT-EX 2 edgar.htm
Schedule of Investments(a)
January 31, 2024
(Unaudited)
  Shares Value
Common Stocks & Other Equity Interests–98.22%
Aerospace & Defense–2.04%
Howmet Aerospace, Inc. 613,989    $34,543,021
Northrop Grumman Corp. 55,781    24,920,720
      59,463,741
Air Freight & Logistics–1.30%
United Parcel Service, Inc., Class B 267,474    37,954,561
Application Software–1.15%
Intuit, Inc. 52,925    33,413,140
Asset Management & Custody Banks–1.55%
BlackRock, Inc. 58,186    45,054,002
Building Products–0.68%
Johnson Controls International PLC 375,529    19,786,623
Cable & Satellite–0.76%
Comcast Corp., Class A 475,554    22,132,283
Communications Equipment–1.22%
Motorola Solutions, Inc. 111,083    35,491,018
Construction Materials–0.78%
CRH PLC 318,729    22,871,993
Consumer Finance–0.75%
American Express Co. 109,214    21,923,618
Consumer Staples Merchandise Retail–2.05%
Walmart, Inc. 362,029    59,825,292
Distillers & Vintners–1.21%
Constellation Brands, Inc., Class A 144,221    35,345,683
Distributors–0.57%
LKQ Corp. 355,437    16,588,245
Diversified Banks–2.23%
JPMorgan Chase & Co. 373,189    65,069,234
Electric Utilities–1.82%
American Electric Power Co., Inc. 405,796    31,708,900
PPL Corp. 814,617    21,342,965
      53,051,865
Electrical Components & Equipment–1.89%
Emerson Electric Co. 303,038    27,797,676
Hubbell, Inc. 80,994    27,179,157
      54,976,833
Electronic Manufacturing Services–1.40%
TE Connectivity Ltd. 287,974    40,947,023
Environmental & Facilities Services–1.16%
Republic Services, Inc. 197,814    33,849,932
Fertilizers & Agricultural Chemicals–0.44%
Mosaic Co. (The) 413,027    12,684,059
  Shares Value
Financial Exchanges & Data–0.78%
CME Group, Inc., Class A 111,016    $22,851,533
Food Distributors–0.94%
Sysco Corp. 336,671    27,246,784
Health Care Equipment–4.16%
Becton, Dickinson and Co. 185,921    44,399,794
Stryker Corp. 94,206    31,604,229
Zimmer Biomet Holdings, Inc. 361,560    45,411,936
      121,415,959
Home Improvement Retail–1.74%
Lowe’s Cos., Inc. 237,920    50,638,893
Household Products–2.08%
Procter & Gamble Co. (The) 386,219    60,690,454
Industrial Conglomerates–1.29%
Honeywell International, Inc. 185,611    37,541,681
Industrial Machinery & Supplies & Components–1.18%
Parker-Hannifin Corp. 74,013    34,379,038
Industrial REITs–1.74%
Prologis, Inc. 401,500    50,866,035
Insurance Brokers–1.01%
Marsh & McLennan Cos., Inc. 151,891    29,442,551
Integrated Oil & Gas–1.68%
Chevron Corp. 332,588    49,033,449
Integrated Telecommunication Services–1.12%
Verizon Communications, Inc. 772,234    32,704,110
Interactive Home Entertainment–0.75%
Electronic Arts, Inc. 157,790    21,708,748
Investment Banking & Brokerage–1.56%
Charles Schwab Corp. (The) 246,367    15,501,412
Morgan Stanley 344,011    30,011,519
      45,512,931
IT Consulting & Other Services–1.93%
Accenture PLC, Class A 154,905    56,366,831
Life Sciences Tools & Services–1.35%
Danaher Corp. 163,952    39,333,724
Managed Health Care–2.18%
UnitedHealth Group, Inc. 124,370    63,645,104
Movies & Entertainment–1.52%
Walt Disney Co. (The) 461,391    44,316,606
Multi-Family Residential REITs–0.72%
Mid-America Apartment Communities, Inc. 166,986    21,103,691
Multi-line Insurance–1.51%
American International Group, Inc. 632,796    43,985,650
 
See accompanying notes which are an integral part of this schedule.
Invesco Rising Dividends Fund
  Shares Value
Multi-Utilities–1.67%
Ameren Corp. 251,641    $17,506,664
WEC Energy Group, Inc. 386,710    31,230,700
      48,737,364
Oil & Gas Exploration & Production–2.09%
ConocoPhillips 352,175    39,397,817
Marathon Oil Corp. 947,831    21,657,939
      61,055,756
Oil & Gas Storage & Transportation–0.95%
Cheniere Energy, Inc. 169,655    27,821,723
Pharmaceuticals–6.04%
AstraZeneca PLC, ADR (United Kingdom) 465,413    31,015,122
Eli Lilly and Co. 78,566    50,722,995
Johnson & Johnson 313,381    49,796,241
Merck & Co., Inc. 369,037    44,572,289
      176,106,647
Property & Casualty Insurance–1.13%
Hartford Financial Services Group, Inc. (The) 379,138    32,969,840
Rail Transportation–1.75%
Union Pacific Corp. 208,817    50,936,731
Regional Banks–0.86%
M&T Bank Corp. 181,888    25,118,733
Restaurants–3.09%
McDonald’s Corp. 196,282    57,455,667
Starbucks Corp. 350,416    32,599,201
      90,054,868
Semiconductor Materials & Equipment–2.45%
Applied Materials, Inc. 230,558    37,880,679
ASML Holding N.V., New York Shares (Netherlands) 38,497    33,485,461
      71,366,140
Semiconductors–6.50%
Broadcom, Inc. 48,689    57,453,020
NVIDIA Corp. 169,810   104,478,999
Texas Instruments, Inc. 172,183    27,569,942
      189,501,961
Soft Drinks & Non-alcoholic Beverages–1.26%
PepsiCo, Inc. 218,427    36,811,502
  Shares Value
Specialty Chemicals–1.78%
DuPont de Nemours, Inc. 394,195    $24,361,251
PPG Industries, Inc. 194,625    27,449,910
      51,811,161
Systems Software–7.89%
Microsoft Corp. 578,615   230,045,752
Technology Hardware, Storage & Peripherals–3.80%
Apple, Inc. 601,058   110,835,095
Telecom Tower REITs–1.14%
American Tower Corp. 170,292    33,317,630
Tobacco–1.52%
Philip Morris International, Inc. 489,010    44,426,558
Transaction & Payment Processing Services–2.06%
Visa, Inc., Class A(b) 220,252    60,186,062
Total Common Stocks & Other Equity Interests (Cost $1,863,713,620) 2,864,316,440
Money Market Funds–1.70%
Invesco Government & Agency Portfolio, Institutional Class, 5.24%(c)(d) 17,357,589    17,357,589
Invesco Liquid Assets Portfolio, Institutional Class, 5.42%(c)(d) 12,526,255    12,533,771
Invesco Treasury Portfolio, Institutional Class, 5.22%(c)(d) 19,837,245    19,837,245
Total Money Market Funds (Cost $49,727,527) 49,728,605
TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-99.92% (Cost $1,913,441,147)     2,914,045,045
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds–2.14%
Invesco Private Government Fund, 5.29%(c)(d)(e) 17,440,886    17,440,886
Invesco Private Prime Fund, 5.52%(c)(d)(e) 44,816,617    44,847,988
Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $62,269,076) 62,288,874
TOTAL INVESTMENTS IN SECURITIES–102.06% (Cost $1,975,710,223) 2,976,333,919
OTHER ASSETS LESS LIABILITIES—(2.06)% (60,191,080)
NET ASSETS–100.00% $2,916,142,839
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 January 31, 2024.
(c) Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended January 31, 2024.
    
  Value
October 31, 2023 		Purchases
at Cost 		Proceeds
from Sales 		Change in
Unrealized
Appreciation
(Depreciation) 		Realized
Gain 		Value
January 31, 2024 		Dividend Income
Investments in Affiliated Money Market Funds:              
Invesco Government & Agency Portfolio, Institutional Class $31,552,739 $20,965,783 $(35,160,933) $- $- $17,357,589 $254,165
Invesco Liquid Assets Portfolio, Institutional Class 22,665,771 14,975,558 (25,114,951) (1,499) 8,892 12,533,771 189,645
Invesco Treasury Portfolio, Institutional Class 36,060,273 23,960,895 (40,183,923) - - 19,837,245 290,205
Investments Purchased with Cash Collateral from Securities on Loan:              
Invesco Private Government Fund 22,763,350 7,290,462 (12,612,926) - - 17,440,886 251,591*
Invesco Private Prime Fund 58,550,269 16,601,691 (30,334,432) 18,136 12,324 44,847,988 676,427*
Total $171,592,402 $83,794,389 $(143,407,165) $16,637 $21,216 $112,017,479 $1,662,033
    
* 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 January 31, 2024.
(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
January 31, 2024
(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 January 31, 2024. 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 $2,864,316,440 $— $— $2,864,316,440
Money Market Funds 49,728,605 62,288,874 — 112,017,479
Total Investments $2,914,045,045 $62,288,874 $— $2,976,333,919
Invesco Rising Dividends Fund