NPORT-EX 2 edgar.htm
Schedule of Investments(a)  
May 31, 2024
(Unaudited)
  Shares Value
Common Stocks & Other Equity Interests–64.14%
Aerospace & Defense–1.64%
RTX Corp.(b)   1,224,450    $132,007,955
Textron, Inc.     782,989     68,597,666
      200,605,621
Air Freight & Logistics–0.82%
FedEx Corp.     396,311    100,647,141
Apparel Retail–0.47%
TJX Cos., Inc. (The)     561,009     57,840,028
Application Software–0.67%
Salesforce, Inc.     348,450     81,690,618
Asset Management & Custody Banks–1.01%
KKR & Co., Inc., Class A   1,204,292    123,849,389
Automobile Manufacturers–0.85%
General Motors Co.   2,299,505    103,454,730
Broadline Retail–1.31%
Amazon.com, Inc.(c)     907,012    160,033,197
Building Products–1.41%
Johnson Controls International PLC   2,401,258    172,674,463
Cable & Satellite–0.46%
Comcast Corp., Class A   1,391,353     55,695,861
Cargo Ground Transportation–0.57%
J.B. Hunt Transport Services, Inc.     433,952     69,757,784
Casinos & Gaming–0.57%
Las Vegas Sands Corp.(b)   1,543,109     69,486,198
Communications Equipment–0.65%
Cisco Systems, Inc.   1,717,916     79,883,094
Consumer Finance–0.68%
American Express Co.     345,065     82,815,600
Distributors–0.65%
Genuine Parts Co.     546,762     78,810,275
Diversified Banks–5.91%
Bank of America Corp.   7,137,861    285,443,061
PNC Financial Services Group, Inc. (The)     780,189    122,793,947
Wells Fargo & Co.   5,244,472    314,248,762
      722,485,770
Electric Utilities–2.05%
American Electric Power Co., Inc.     899,050     81,139,262
FirstEnergy Corp.   1,716,259     69,096,587
PPL Corp.   3,404,529     99,854,836
      250,090,685
Electrical Components & Equipment–0.68%
Emerson Electric Co.     740,955     83,105,513
  Shares Value
Electronic Equipment & Instruments–0.72%
Zebra Technologies Corp., Class A(c)     281,816     $88,022,409
Electronic Manufacturing Services–0.64%
TE Connectivity Ltd.     518,481     77,616,606
Fertilizers & Agricultural Chemicals–0.51%
Corteva, Inc.   1,115,080     62,377,575
Food Distributors–1.57%
Sysco Corp.   1,477,455    107,588,273
US Foods Holding Corp.(c)   1,590,860     84,045,134
      191,633,407
Gold–0.46%
Barrick Gold Corp. (Canada)   3,271,231     55,905,338
Health Care Equipment–1.44%
GE HealthCare Technologies, Inc.     676,606     52,775,268
Medtronic PLC   1,514,064    123,199,388
      175,974,656
Health Care Services–1.18%
Cigna Group (The)     245,778     84,700,014
CVS Health Corp.     991,214     59,076,355
      143,776,369
Industrial Machinery & Supplies & Components–1.75%
Parker-Hannifin Corp.     284,528    151,232,322
Stanley Black & Decker, Inc.     710,475     61,932,106
      213,164,428
Insurance Brokers–1.07%
Willis Towers Watson PLC     513,894    131,191,998
Integrated Oil & Gas–4.20%
Chevron Corp.     822,561    133,501,650
Exxon Mobil Corp.   1,699,484    199,281,494
Shell PLC (United Kingdom)   2,363,613     85,314,016
Suncor Energy, Inc. (Canada)(b)   2,331,874     95,126,156
      513,223,316
Interactive Media & Services–2.28%
Alphabet, Inc., Class A(c)   1,096,572    189,158,670
Meta Platforms, Inc., Class A     191,755     89,516,987
      278,675,657
Investment Banking & Brokerage–2.12%
Charles Schwab Corp. (The)   1,619,820    118,700,410
Goldman Sachs Group, Inc. (The)     308,245    140,720,007
      259,420,417
IT Consulting & Other Services–0.68%
Cognizant Technology Solutions Corp., Class A   1,247,182     82,501,089
Managed Health Care–1.83%
Centene Corp.(c)   1,076,733     77,083,315
Elevance Health, Inc.     125,076     67,350,924
 
See accompanying notes which are an integral part of this schedule.
Invesco Equity and Income Fund
  Shares Value
Managed Health Care–(continued)
Humana, Inc.     220,679     $79,029,564
      223,463,803
Movies & Entertainment–0.82%
Walt Disney Co. (The)     963,024    100,067,824
Multi-line Insurance–1.24%
American International Group, Inc.   1,929,184    152,058,283
Oil & Gas Exploration & Production–1.45%
ConocoPhillips   1,525,145    177,648,890
Oil & Gas Refining & Marketing–0.51%
Phillips 66     435,788     61,929,833
Packaged Foods & Meats–0.69%
Kraft Heinz Co. (The)   2,387,995     84,463,383
Pharmaceuticals–4.69%
Bristol-Myers Squibb Co.   1,941,755     79,786,713
GSK PLC   3,194,995     71,689,329
Johnson & Johnson   1,007,033    147,701,530
Merck & Co., Inc.     729,402     91,569,127
Pfizer, Inc.   2,208,925     63,307,790
Sanofi S.A.   1,213,743    118,827,802
      572,882,291
Property & Casualty Insurance–0.71%
Allstate Corp. (The)     516,995     86,607,002
Rail Transportation–1.67%
CSX Corp.   2,983,187    100,682,561
Norfolk Southern Corp.     462,020    103,862,096
      204,544,657
Real Estate Services–1.29%
CBRE Group, Inc., Class A(c)   1,790,666    157,703,955
Regional Banks–0.85%
Citizens Financial Group, Inc.   2,956,399    104,331,321
Semiconductor Materials & Equipment–0.55%
Lam Research Corp.      71,766     66,917,489
Semiconductors–2.41%
Intel Corp.   2,463,216     75,990,214
Micron Technology, Inc.(b)     999,014    124,876,750
NXP Semiconductors N.V. (China)     344,854     93,834,773
      294,701,737
Specialty Chemicals–1.24%
DuPont de Nemours, Inc.   1,102,713     90,598,900
PPG Industries, Inc.     461,595     60,658,199
      151,257,099
Systems Software–0.88%
Oracle Corp.     919,582    107,765,815
Tobacco–1.16%
Philip Morris International, Inc.   1,394,841    141,408,980
Trading Companies & Distributors–0.98%
Ferguson PLC     583,136    119,974,401
  Shares Value
Transaction & Payment Processing Services–1.07%
Fiserv, Inc.(c)     869,530    $130,220,813
Wireless Telecommunication Services–1.08%
T-Mobile US, Inc.     755,084    132,109,497
Total Common Stocks & Other Equity Interests (Cost $5,501,105,517) 7,836,466,305
  Principal
Amount 		 
U.S. Dollar Denominated Bonds & Notes–19.27%
Advertising–0.04%
Omnicom Group, Inc./Omnicom Capital, Inc., 3.60%, 04/15/2026     $5,660,000      5,489,037
Aerospace & Defense–0.42%
BAE Systems PLC (United Kingdom), 5.50%, 03/26/2054(d)     3,130,000      3,050,120
Boeing Co. (The), 5.81%, 05/01/2050    16,525,000     14,809,773
Lockheed Martin Corp.,                           
3.55%, 01/15/2026    14,804,000     14,434,441
4.15%, 06/15/2053(b)     5,231,000      4,225,839
5.20%, 02/15/2064     5,558,000      5,240,244
RTX Corp.,                           
4.45%, 11/16/2038     3,239,000      2,862,162
6.40%, 03/15/2054(b)     6,223,000      6,790,081
      51,412,660
Agricultural Products & Services–0.03%
Ingredion, Inc., 6.63%, 04/15/2037     3,940,000      4,237,280
Air Freight & Logistics–0.05%
FedEx Corp., 4.90%, 01/15/2034(b)     4,310,000      4,174,115
United Parcel Service, Inc., 3.40%, 11/15/2046     2,608,000      1,947,841
      6,121,956
Alternative Carriers–0.47%
Liberty Latin America Ltd. (Puerto Rico), Conv., 2.00%, 07/15/2024    28,911,000     28,289,413
Match Group Financeco 2, Inc., Conv., 0.88%, 06/15/2026(d)    16,590,000     15,048,789
Match Group Financeco 3, Inc., Conv., 2.00%, 01/15/2030(d)    16,603,000     13,607,819
      56,946,021
Application Software–0.70%
Dropbox, Inc., Conv., 0.00%, 03/01/2026(e)    51,429,000     48,137,544
Envestnet, Inc., Conv., 2.63%, 12/01/2027    23,029,000     25,389,473
Salesforce, Inc., 2.70%, 07/15/2041    10,414,000      7,274,620
Workday, Inc., 3.50%, 04/01/2027(b)     5,033,000      4,810,290
      85,611,927
See accompanying notes which are an integral part of this schedule.
Invesco Equity and Income Fund
  Principal
Amount 		Value
Asset Management & Custody Banks–0.29%
BlackRock, Inc., 4.75%, 05/25/2033(b)    $14,671,000     $14,335,892
Blackstone Holdings Finance Co. LLC, 5.00%, 06/15/2044(d)     3,975,000      3,624,299
Brookfield Corp. (Canada), 4.00%, 01/15/2025     4,515,000      4,470,379
KKR Group Finance Co. III LLC, 5.13%, 06/01/2044(d)     3,217,000      2,914,146
KKR Group Finance Co. XII LLC, 4.85%, 05/17/2032(d)    11,051,000     10,605,612
      35,950,328
Automobile Manufacturers–0.08%
General Motors Co., 6.60%, 04/01/2036     4,317,000      4,523,741
Honda Motor Co. Ltd. (Japan), 2.97%, 03/10/2032(b)     5,448,000      4,757,818
      9,281,559
Biotechnology–1.18%
AbbVie, Inc.,                           
4.50%, 05/14/2035     7,233,000      6,782,950
4.05%, 11/21/2039    13,812,000     11,924,611
4.85%, 06/15/2044     5,815,000      5,368,392
Alnylam Pharmaceuticals, Inc., Conv., 1.00%, 09/15/2027    35,337,000     32,994,157
Amgen, Inc., 5.25%, 03/02/2025     7,947,000      7,928,973
Halozyme Therapeutics, Inc., Conv., 0.25%, 03/01/2027    49,785,000     45,080,317
Jazz Investments I Ltd., Conv., 2.00%, 06/15/2026    35,890,000     34,373,648
      144,453,048
Brewers–0.23%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. (Belgium),                           
4.70%, 02/01/2036    10,870,000     10,268,766
4.90%, 02/01/2046     6,301,000      5,789,540
Heineken N.V. (Netherlands), 3.50%, 01/29/2028(d)     9,734,000      9,226,218
Molson Coors Beverage Co., 4.20%, 07/15/2046(b)     4,057,000      3,257,555
      28,542,079
Broadcasting–0.03%
Discovery Communications LLC, 4.90%, 03/11/2026     3,773,000      3,724,653
Broadline Retail–0.08%
Amazon.com, Inc., 2.88%, 05/12/2041    13,606,000     10,059,378
Building Products–0.04%
Carrier Global Corp., 6.20%, 03/15/2054(b)     4,481,000      4,809,974
Cable & Satellite–1.06%
Cable One, Inc.,                           
Conv.,
0.00%, 03/15/2026(e) 		   51,123,000     44,425,887
1.13%, 03/15/2028    26,544,000     19,541,693
  Principal
Amount 		Value
Cable & Satellite–(continued)
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 4.91%, 07/23/2025     $1,305,000      $1,291,984
Comcast Corp.,                           
3.15%, 03/01/2026    11,319,000     10,942,952
4.15%, 10/15/2028     9,915,000      9,575,637
3.90%, 03/01/2038     8,010,000      6,769,811
2.89%, 11/01/2051     3,128,000      1,947,295
2.94%, 11/01/2056     4,539,000      2,730,222
Cox Communications, Inc., 2.95%, 10/01/2050(d)     2,044,000      1,220,498
Liberty Broadband Corp., Conv., 3.13%, 04/06/2026(d)(f)    33,219,000     31,531,475
      129,977,454
Commercial & Residential Mortgage Finance–0.06%
Aviation Capital Group LLC, 4.88%, 10/01/2025(b)(d)     7,745,000      7,628,150
Commodity Chemicals–0.04%
LYB Finance Co. B.V. (Netherlands), 8.10%, 03/15/2027(d)     4,638,000      4,904,181
Communications Equipment–0.03%
Cisco Systems, Inc., 5.30%, 02/26/2054(b)     3,481,000      3,417,469
Computer & Electronics Retail–0.07%
Dell International LLC/EMC Corp.,                           
6.02%, 06/15/2026     7,851,000      7,924,499
8.35%, 07/15/2046        30,000         38,052
      7,962,551
Consumer Finance–0.12%
American Express Co., 3.63%, 12/05/2024     3,423,000      3,388,774
General Motors Financial Co., Inc., 5.25%, 03/01/2026     5,467,000      5,438,411
Synchrony Financial, 3.95%, 12/01/2027(b)     5,795,000      5,427,388
      14,254,573
Consumer Staples Merchandise Retail–0.15%
Dollar General Corp., 4.25%, 09/20/2024    18,724,000     18,635,118
Diversified Banks–0.94%
Bank of America Corp.,                           
3.25%, 10/21/2027(b)     5,705,000      5,385,648
2.57%, 10/20/2032(g)     8,683,000      7,165,399
Citigroup, Inc.,                           
3.67%, 07/24/2028(g)     5,405,000      5,136,323
6.68%, 09/13/2043     8,000,000      8,777,749
5.30%, 05/06/2044(b)     2,765,000      2,625,248
4.75%, 05/18/2046     4,145,000      3,631,813
HSBC Holdings PLC (United Kingdom), 2.63%, 11/07/2025(b)(g)    18,945,000     18,688,441
See accompanying notes which are an integral part of this schedule.
Invesco Equity and Income Fund
  Principal
Amount 		Value
Diversified Banks–(continued)
JPMorgan Chase & Co.,                           
3.20%, 06/15/2026     $4,365,000      $4,202,097
3.51%, 01/23/2029(g)    11,170,000     10,515,311
4.26%, 02/22/2048(g)     5,355,000      4,519,657
3.90%, 01/23/2049(g)    11,170,000      8,849,698
PNC Financial Services Group, Inc. (The),                           
3.45%, 04/23/2029(b)     7,450,000      6,880,616
6.88%, 10/20/2034(b)(g)     6,126,000      6,641,934
U.S. Bancorp, Series W, 3.10%, 04/27/2026     3,245,000      3,112,121
Wells Fargo & Co.,                           
3.55%, 09/29/2025     6,840,000      6,671,559
4.10%, 06/03/2026     4,515,000      4,404,586
4.65%, 11/04/2044(b)     9,115,000      7,830,657
      115,038,857
Diversified Financial Services–0.03%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland), 3.85%, 10/29/2041     4,009,000      3,131,833
Diversified Metals & Mining–0.02%
Rio Tinto Finance (USA) Ltd. (Australia), 7.13%, 07/15/2028(b)     2,175,000      2,348,171
Diversified REITs–0.07%
CubeSmart L.P., 2.50%, 02/15/2032(b)    10,561,000      8,554,417
Drug Retail–0.06%
CVS Pass-Through Trust, 6.04%, 12/10/2028     3,825,990      3,813,369
Walgreens Boots Alliance, Inc., 4.50%, 11/18/2034(b)     4,519,000      3,949,164
      7,762,533
Electric Utilities–1.39%
Constellation Energy Generation LLC, 6.50%, 10/01/2053(b)     2,992,000      3,197,976
Electricite de France S.A. (France), 4.88%, 01/22/2044(d)     9,110,000      7,919,858
FirstEnergy Corp., Conv., 4.00%, 05/01/2026    54,373,000     54,590,492
Georgia Power Co., Series B, 3.70%, 01/30/2050     3,665,000      2,718,405
National Rural Utilities Cooperative Finance Corp., 2.75%, 04/15/2032(b)     9,898,000      8,267,555
NextEra Energy Capital Holdings, Inc.,                           
5.75%, 09/01/2025    22,708,000     22,753,999
3.55%, 05/01/2027(b)     5,572,000      5,314,475
Oglethorpe Power Corp., 4.55%, 06/01/2044     5,806,000      4,712,090
PPL Capital Funding, Inc., Conv., 2.88%, 03/15/2028    54,663,000     53,501,411
PPL Electric Utilities Corp., 6.25%, 05/15/2039       355,000        381,592
  Principal
Amount 		Value
Electric Utilities–(continued)
Xcel Energy, Inc., 3.50%, 12/01/2049    $10,280,000      $7,022,130
      170,379,983
Electrical Components & Equipment–0.02%
Rockwell Automation, Inc., 1.75%, 08/15/2031(b)     2,729,000      2,178,355
Financial Exchanges & Data–0.02%
Nasdaq, Inc., 5.95%, 08/15/2053     2,575,000      2,619,497
Food Distributors–0.08%
Sysco Corp., 3.75%, 10/01/2025     9,593,000      9,374,054
Health Care Equipment–0.38%
Becton, Dickinson and Co., 4.88%, 05/15/2044     3,739,000      3,203,960
Integra LifeSciences Holdings Corp., Conv., 0.50%, 08/15/2025    42,831,000     40,271,848
Medtronic, Inc., 4.38%, 03/15/2035     2,601,000      2,432,696
      45,908,504
Health Care REITs–0.17%
Welltower OP LLC, Conv., 2.75%, 05/15/2028(d)    17,592,000     20,869,390
Health Care Services–0.12%
Cigna Group (The), 4.80%, 08/15/2038     3,240,000      2,963,894
CVS Health Corp., 3.38%, 08/12/2024     3,740,000      3,723,033
NXP B.V./NXP Funding LLC (China), 5.35%, 03/01/2026     7,660,000      7,638,224
      14,325,151
Health Care Supplies–0.20%
Haemonetics Corp., Conv., 2.50%, 06/01/2029(d)     7,755,000      7,619,287
Merit Medical Systems, Inc., Conv., 3.00%, 02/01/2029(d)    15,227,000     17,236,964
      24,856,251
Home Improvement Retail–0.20%
Home Depot, Inc. (The), 5.13%, 04/30/2025    20,528,000     20,528,244
Lowe’s Cos., Inc., 4.25%, 04/01/2052     4,741,000      3,727,156
      24,255,400
Homebuilding–0.02%
M.D.C. Holdings, Inc., 6.00%, 01/15/2043     2,117,000      2,121,606
Hotels, Resorts & Cruise Lines–0.39%
Airbnb, Inc., Conv., 0.00%, 03/15/2026(e)    52,169,000     47,525,959
Industrial Conglomerates–0.12%
Honeywell International, Inc., 4.50%, 01/15/2034    16,007,000     15,278,242
See accompanying notes which are an integral part of this schedule.
Invesco Equity and Income Fund
  Principal
Amount 		Value
Industrial Machinery & Supplies & Components–0.25%
John Bean Technologies Corp., Conv., 0.25%, 05/15/2026    $33,206,000     $30,479,787
Integrated Oil & Gas–0.36%
BP Capital Markets America, Inc., 2.94%, 06/04/2051    10,062,000      6,414,289
Chevron Corp., 2.95%, 05/16/2026     9,807,000      9,431,048
Exxon Mobil Corp.,                           
2.71%, 03/06/2025     5,658,000      5,545,369
3.04%, 03/01/2026    11,316,000     10,933,954
Shell International Finance B.V., 3.25%, 05/11/2025    11,316,000     11,104,434
      43,429,094
Integrated Telecommunication Services–0.31%
AT&T, Inc.,                           
4.30%, 02/15/2030(b)     3,526,000      3,361,989
3.55%, 09/15/2055     4,562,000      3,065,658
3.80%, 12/01/2057     3,619,000      2,521,508
Orange S.A. (France), 9.00%, 03/01/2031     4,443,000      5,316,008
Telefonica Emisiones S.A. (Spain), 5.21%, 03/08/2047(b)     6,725,000      5,992,585
Verizon Communications, Inc.,                           
3.38%, 02/15/2025(b)    13,206,000     13,004,512
3.40%, 03/22/2041     5,788,000      4,430,902
      37,693,162
Interactive Home Entertainment–0.03%
Take-Two Interactive Software, Inc., 3.70%, 04/14/2027(b)     3,559,000      3,412,747
Interactive Media & Services–0.37%
Meta Platforms, Inc., 5.60%, 05/15/2053    14,968,000     15,176,872
Snap, Inc., Conv., 0.50%, 05/01/2030(d)    31,281,000     30,300,851
      45,477,723
Internet Services & Infrastructure–0.24%
Shopify, Inc. (Canada), Conv., 0.13%, 11/01/2025    31,379,000     29,213,849
Investment Banking & Brokerage–1.89%
Goldman Sachs Group, Inc. (The),                           
4.25%, 10/21/2025     5,807,000      5,705,135
2.91%, 07/21/2042(g)     3,205,000      2,267,401
GS Finance Corp.,                           
Series 0003, Conv.,
0.50%, 04/11/2028(d) 		   62,573,000     73,421,963
0.00%, 07/19/2029(d)(e)    62,330,000     77,903,473
1.00%, 07/30/2029(d)    62,338,000     64,465,053
Morgan Stanley, 4.00%, 07/23/2025(b)     6,870,000      6,760,281
      230,523,306
Life & Health Insurance–0.62%
American National Group, Inc., 5.00%, 06/15/2027     8,671,000      8,406,734
Athene Global Funding, 2.75%, 06/25/2024(d)     2,890,000      2,884,622
Brighthouse Financial, Inc., 3.85%, 12/22/2051    18,342,000     11,497,152
  Principal
Amount 		Value
Life & Health Insurance–(continued)
Delaware Life Global Funding, Series 21-1, 2.66%, 06/29/2026(d)    $20,728,000     $19,223,772
GA Global Funding Trust, 5.50%, 01/08/2029(d)    12,448,000     12,401,634
Nationwide Financial Services, Inc., 5.30%, 11/18/2044(d)     4,250,000      3,856,361
Pacific Life Global Funding II, 5.50%, 08/28/2026(d)    13,319,000     13,392,369
Prudential Financial, Inc., 3.91%, 12/07/2047     4,898,000      3,771,875
      75,434,519
Life Sciences Tools & Services–0.17%
Thermo Fisher Scientific, Inc., 1.22%, 10/18/2024    21,232,000     20,890,253
Managed Health Care–0.04%
UnitedHealth Group, Inc., 3.50%, 08/15/2039     5,806,000      4,681,568
Movies & Entertainment–0.46%
Liberty Media Corp.-Liberty Formula One, Conv., 2.25%, 08/15/2027    20,617,000     22,359,934
TWDC Enterprises 18 Corp., 3.00%, 02/13/2026     3,773,000      3,638,250
Warnermedia Holdings, Inc.,                           
3.79%, 03/15/2025(b)    16,392,000     16,124,965
5.05%, 03/15/2042(b)     7,965,000      6,586,212
5.14%, 03/15/2052(b)     9,886,000      7,809,197
      56,518,558
Multi-line Insurance–0.05%
Liberty Mutual Group, Inc., 3.95%, 05/15/2060(d)     9,030,000      6,225,720
Multi-Utilities–0.08%
NiSource, Inc., 4.38%, 05/15/2047     6,015,000      4,911,345
Sempra, 3.80%, 02/01/2038     5,871,000      4,802,244
      9,713,589
Oil & Gas Exploration & Production–0.32%
Cameron LNG LLC, 3.70%, 01/15/2039(d)     6,519,000      5,263,490
ConocoPhillips Co., 4.15%, 11/15/2034     2,403,000      2,174,740
Diamondback Energy, Inc., 5.75%, 04/18/2054     5,160,000      4,978,178
Northern Oil and Gas, Inc., Conv., 3.63%, 04/15/2029    21,570,000     26,148,232
      38,564,640
Oil & Gas Refining & Marketing–0.03%
Valero Energy Corp., 4.00%, 06/01/2052(b)     5,068,000      3,734,152
Oil & Gas Storage & Transportation–0.53%
Energy Transfer L.P.,                           
6.40%, 12/01/2030(b)     4,861,000      5,076,687
4.90%, 03/15/2035     3,640,000      3,394,932
5.30%, 04/01/2044     8,165,000      7,321,125
5.00%, 05/15/2050     7,684,000      6,527,163
See accompanying notes which are an integral part of this schedule.
Invesco Equity and Income Fund
  Principal
Amount 		Value
Oil & Gas Storage & Transportation–(continued)
Enterprise Products Operating LLC,                           
6.45%, 09/01/2040       $555,000        $599,024
4.25%, 02/15/2048(b)     7,354,000      6,025,671
Kinder Morgan, Inc.,                           
4.30%, 06/01/2025     9,053,000      8,933,407
5.30%, 12/01/2034(b)     4,203,000      4,072,910
MPLX L.P., 4.50%, 04/15/2038     8,564,000      7,453,867
Spectra Energy Partners L.P., 4.50%, 03/15/2045     5,468,000      4,485,455
Texas Eastern Transmission L.P., 7.00%, 07/15/2032     3,835,000      4,181,721
Williams Cos., Inc. (The), 5.40%, 03/02/2026     7,016,000      7,005,710
      65,077,672
Other Specialized REITs–0.14%
EPR Properties, 4.75%, 12/15/2026(b)    17,525,000     16,931,616
Packaged Foods & Meats–0.01%
Mead Johnson Nutrition Co. (United Kingdom), 4.13%, 11/15/2025       648,000        637,218
Paper & Plastic Packaging Products & Materials–0.02%
International Paper Co., 6.00%, 11/15/2041(b)     2,855,000      2,818,369
Passenger Airlines–0.07%
American Airlines Pass-Through Trust, Series 2014-1, Class A, 3.70%, 04/01/2028     2,283,161      2,181,253
United Airlines Pass-Through Trust,                           
Series 2014-2, Class A, 3.75%, 09/03/2026     2,870,273      2,752,114
Series 2018-1, Class AA, 3.50%, 03/01/2030     3,883,972      3,563,901
      8,497,268
Personal Care Products–0.05%
Kenvue, Inc., 5.05%, 03/22/2053(b)     7,142,000      6,718,317
Pharmaceuticals–0.38%
Bayer US Finance II LLC (Germany), 4.38%, 12/15/2028(b)(d)     9,800,000      9,261,241
Bayer US Finance LLC (Germany), 6.88%, 11/21/2053(b)(d)     4,531,000      4,701,506
Bristol-Myers Squibb Co.,                           
4.13%, 06/15/2039     6,435,000      5,568,319
6.25%, 11/15/2053     8,079,000      8,709,075
Haleon US Capital LLC, 4.00%, 03/24/2052(b)     2,954,000      2,341,273
Pacira BioSciences, Inc., Conv., 0.75%, 08/01/2025    13,205,000     12,378,367
Zoetis, Inc., 4.70%, 02/01/2043     4,101,000      3,667,513
      46,627,294
Property & Casualty Insurance–0.14%
Allstate Corp. (The), 3.28%, 12/15/2026     3,260,000      3,107,002
  Principal
Amount 		Value
Property & Casualty Insurance–(continued)
Markel Group, Inc.,                           
5.00%, 03/30/2043     $4,185,000      $3,703,411
5.00%, 05/20/2049     5,140,000      4,552,045
Travelers Cos., Inc. (The), 4.60%, 08/01/2043     6,455,000      5,808,733
      17,171,191
Rail Transportation–0.22%
Canadian Pacific Railway Co. (Canada), 3.00%, 12/02/2041(b)     3,965,000      3,432,404
Norfolk Southern Corp.,                           
3.40%, 11/01/2049     4,879,000      3,428,110
5.35%, 08/01/2054(b)     5,099,000      4,853,176
Union Pacific Corp.,                           
3.20%, 05/20/2041    10,131,000      7,691,264
4.15%, 01/15/2045     4,410,000      3,546,064
3.84%, 03/20/2060     5,560,000      4,074,586
      27,025,604
Regional Banks–0.03%
Citizens Financial Group, Inc., 6.65%, 04/25/2035(b)(g)     3,122,000      3,204,987
Reinsurance–0.06%
Global Atlantic (Fin) Co., 6.75%, 03/15/2054(b)(d)     2,423,000      2,422,704
PartnerRe Finance B LLC, 3.70%, 07/02/2029     5,795,000      5,397,237
      7,819,941
Restaurants–0.06%
Starbucks Corp., 3.55%, 08/15/2029(b)     7,440,000      6,945,261
Retail REITs–0.24%
Brixmor Operating Partnership L.P., 5.50%, 02/15/2034    10,029,000      9,791,009
Kimco Realty OP LLC, 3.20%, 04/01/2032(b)    12,105,000     10,330,095
Regency Centers L.P.,                           
2.95%, 09/15/2029     7,960,000      7,112,058
4.65%, 03/15/2049     2,970,000      2,495,155
      29,728,317
Self-Storage REITs–0.07%
Extra Space Storage L.P.,                           
3.50%, 07/01/2026(b)     4,667,000      4,477,214
5.70%, 04/01/2028     3,806,000      3,848,562
      8,325,776
Semiconductors–0.76%
Broadcom, Inc., 3.47%, 04/15/2034(b)(d)     6,975,000      5,881,640
Marvell Technology, Inc., 2.45%, 04/15/2028    12,029,000     10,811,857
Microchip Technology, Inc.,                           
Conv.,
0.13%, 11/15/2024 		   39,559,000     43,772,033
0.75%, 06/01/2027(d)(f)    23,269,000     23,830,803
See accompanying notes which are an integral part of this schedule.
Invesco Equity and Income Fund
  Principal
Amount 		Value
Semiconductors–(continued)
Micron Technology, Inc.,                           
4.66%, 02/15/2030(b)     $7,270,000      $7,020,589
3.37%, 11/01/2041     1,778,000      1,303,011
      92,619,933
Specialty Chemicals–0.01%
Sherwin-Williams Co. (The), 4.50%, 06/01/2047     1,665,000      1,411,756
Systems Software–0.22%
Microsoft Corp., 3.50%, 02/12/2035(b)     4,259,000      3,830,894
Oracle Corp., 3.60%, 04/01/2040    10,910,000      8,408,916
VMware LLC, 1.00%, 08/15/2024    14,992,000     14,844,949
      27,084,759
Technology Distributors–0.06%
Avnet, Inc., 4.63%, 04/15/2026     7,645,000      7,503,619
Technology Hardware, Storage & Peripherals–0.03%
Apple, Inc., 3.35%, 02/09/2027     3,495,000      3,364,754
Telecom Tower REITs–0.16%
American Tower Corp., 1.60%, 04/15/2026     8,541,000      7,954,261
Crown Castle, Inc.,                           
2.50%, 07/15/2031(b)    14,073,000     11,571,266
4.75%, 05/15/2047(b)       470,000        401,406
      19,926,933
Tobacco–0.29%
Altria Group, Inc., 5.80%, 02/14/2039    12,541,000     12,444,720
Philip Morris International, Inc.,                           
3.25%, 11/10/2024(b)    12,062,000     11,942,776
4.88%, 11/15/2043    11,740,000     10,470,423
      34,857,919
Trading Companies & Distributors–0.04%
Air Lease Corp., 4.25%, 09/15/2024     4,355,000      4,334,867
Transaction & Payment Processing Services–0.74%
Block, Inc., Conv., 0.13%, 03/01/2025    45,518,000     43,786,040
Fiserv, Inc., 2.75%, 07/01/2024     1,954,000      1,949,441
Global Payments, Inc., Conv., 1.50%, 03/01/2031(d)    48,873,000     45,094,452
      90,829,933
Wireless Telecommunication Services–0.32%
America Movil S.A.B. de C.V. (Mexico), 4.38%, 07/16/2042(b)     6,610,000      5,648,109
Rogers Communications, Inc. (Canada),                           
4.50%, 03/15/2043(b)     6,080,000      5,141,659
4.30%, 02/15/2048     8,020,000      6,342,201
  Principal
Amount 		Value
Wireless Telecommunication Services–(continued)
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, 4.74%, 03/20/2025(d)     $5,074,250      $5,037,924
T-Mobile USA, Inc.,                           
2.70%, 03/15/2032(b)    10,676,000      8,880,002
3.40%, 10/15/2052     7,422,000      5,051,329
6.00%, 06/15/2054(b)     3,234,000      3,343,602
      39,444,826
Total U.S. Dollar Denominated Bonds & Notes (Cost $2,479,814,765) 2,354,848,396
U.S. Treasury Securities–9.71%
U.S. Treasury Bills–0.01%
5.27%, 09/05/2024(h)(i)     1,800,000      1,775,490
U.S. Treasury Bonds–0.78%
4.50%, 02/15/2036     5,525,000      5,573,775
4.63%, 05/15/2044    59,827,900     59,182,880
4.25%, 02/15/2054    31,887,200     29,916,671
      94,673,326
U.S. Treasury Notes–8.92%
4.88%, 04/30/2026   312,913,000    312,827,437
4.50%, 05/15/2027   227,929,000    226,869,486
4.63%, 04/30/2029   318,991,900    320,586,859
4.63%, 04/30/2031   207,598,000    209,154,985
4.38%, 05/15/2034    20,463,300     20,282,648
      1,089,721,415
Total U.S. Treasury Securities (Cost $1,182,550,820) 1,186,170,231
  Shares  
Preferred Stocks–0.54%
Asset Management & Custody Banks–0.20%
AMG Capital Trust II, 5.15%, Conv. Pfd.     483,000     24,787,560
Oil & Gas Storage & Transportation–0.34%
El Paso Energy Capital Trust I, 4.75%, Conv. Pfd.     875,900     41,605,250
Total Preferred Stocks (Cost $60,254,605) 66,392,810
  Principal
Amount 		 
U.S. Government Sponsored Agency Mortgage-Backed Securities–0.12%
Federal Home Loan Mortgage Corp. (FHLMC)–0.06%
6.75%, 03/15/2031     $7,000,001      7,873,603
5.50%, 02/01/2037             3              3
      7,873,606
Federal National Mortgage Association (FNMA)–0.06%
6.63%, 11/15/2030     6,315,000      7,013,059
7.00%, 07/01/2032         3,769          3,872
      7,016,931
See accompanying notes which are an integral part of this schedule.
Invesco Equity and Income Fund
  Principal
Amount 		Value
Government National Mortgage Association (GNMA)–0.00%
8.00%, 06/15/2026 to 01/20/2031         $3,101          $3,126
7.50%, 12/20/2030           337            343
      3,469
Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $17,460,460) 14,894,006
Municipal Obligations–0.04%
Georgia (State of) Municipal Electric Authority (Plant Vogtle Units 3 & 4), Series 2010 A, RB, 6.66%, 04/01/2057
(Cost $4,661,000) 		    4,661,000      5,250,029
  Shares  
Money Market Funds–5.90%
Invesco Government & Agency Portfolio, Institutional Class, 5.23%(j)(k) 253,877,094    253,877,094
Invesco Liquid Assets Portfolio, Institutional Class, 5.30%(j)(k) 176,240,462    176,293,335
Invesco Treasury Portfolio, Institutional Class, 5.22%(j)(k) 290,145,250    290,145,250
Total Money Market Funds (Cost $720,239,259) 720,315,679
TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-99.72% (Cost $9,966,086,426)     12,184,337,456
  Shares Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds–1.96%
Invesco Private Government Fund, 5.30%(j)(k)(l)  66,855,271     $66,855,271
Invesco Private Prime Fund, 5.48%(j)(k)(l) 171,861,955    171,913,513
Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $238,768,834) 238,768,784
TOTAL INVESTMENTS IN SECURITIES–101.68% (Cost $10,204,855,260) 12,423,106,240
OTHER ASSETS LESS LIABILITIES—(1.68)% (205,520,634)
NET ASSETS–100.00% $12,217,585,606
Investment Abbreviations:
Conv. – Convertible
Pfd. – Preferred
RB – Revenue Bonds
REIT – Real Estate Investment Trust
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) All or a portion of this security was out on loan at May 31, 2024.
(c) Non-income producing security.
(d) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at May 31, 2024 was $562,576,384, which represented 4.60% of the Fund’s Net Assets.
(e) Zero coupon bond issued at a discount.
(f) Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put.
(g) Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate.
(h) All or a portion of the value was pledged as collateral to cover margin requirements for open futures contracts.
(i) Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.
(j) Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended May 31, 2024. 
    
  Value
August 31, 2023 		Purchases
at Cost 		Proceeds
from Sales 		Change in
Unrealized
Appreciation 		Realized
Gain 		Value
May 31, 2024 		Dividend Income
Investments in Affiliated Money Market Funds:              
Invesco Government & Agency Portfolio, Institutional Class $184,477,754 $656,619,669 $(587,220,329) $- $- $253,877,094 $8,313,110
Invesco Liquid Assets Portfolio, Institutional Class 126,706,527 469,014,049 (419,443,091) 14,824 1,026 176,293,335 5,894,554
Invesco Treasury Portfolio, Institutional Class 210,831,719 750,422,478 (671,108,947) - - 290,145,250 9,482,103
See accompanying notes which are an integral part of this schedule.
Invesco Equity and Income Fund
  Value
August 31, 2023 		Purchases
at Cost 		Proceeds
from Sales 		Change in
Unrealized
Appreciation 		Realized
Gain 		Value
May 31, 2024 		Dividend Income
Investments Purchased with Cash Collateral from Securities on Loan:              
Invesco Private Government Fund $39,668,762 $746,555,883 $(719,369,374) $- $- $66,855,271 $1,768,945*
Invesco Private Prime Fund 102,005,388 1,588,416,480 (1,518,532,751) 3,620 20,776 171,913,513 4,854,045*
Total $663,690,150 $4,211,028,559 $(3,915,674,492) $18,444 $21,802 $959,084,463 $30,312,757
    
* 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.
    
(k) The rate shown is the 7-day SEC standardized yield as of May 31, 2024.
(l) 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.
    
Open Futures Contracts
Short Futures Contracts Number of
Contracts 		Expiration
Month 		Notional
Value 		Value Unrealized
Appreciation
Interest Rate Risk
U.S. Treasury 5 Year Notes 85 September-2024 $(8,992,734) $5,141 $5,141
U.S. Treasury 10 Year Notes 203 September-2024 (22,085,766) 2,731 2,731
U.S. Treasury 10 Year Ultra Notes 299 September-2024 (33,497,344) 139,508 139,508
Total Futures Contracts $147,380 $147,380
    
Open Forward Foreign Currency Contracts
Settlement
Date 		Counterparty Contract to Unrealized
Appreciation
(Depreciation)
Deliver Receive
Currency Risk            
06/06/2024 State Street Bank & Trust Co. CAD 1,871,329 USD 1,374,034 $962
06/06/2024 State Street Bank & Trust Co. USD 74,038,541 CAD 101,488,987 428,104
06/06/2024 State Street Bank & Trust Co. USD 90,587,707 EUR 83,766,473 309,974
06/06/2024 State Street Bank & Trust Co. USD 119,623,885 GBP 94,118,374 307,718
07/05/2024 State Street Bank & Trust Co. USD 1,634,761 EUR 1,511,110 7,109
Subtotal—Appreciation 1,053,867
Currency Risk            
06/06/2024 Bank of New York Mellon (The) GBP 90,819,129 USD 113,641,158 (2,086,337)
06/06/2024 State Street Bank & Trust Co. CAD 102,118,592 USD 74,301,458 (627,156)
06/06/2024 State Street Bank & Trust Co. EUR 86,351,745 USD 92,364,963 (1,338,078)
06/06/2024 State Street Bank & Trust Co. GBP 4,525,352 USD 5,676,866 (89,625)
06/06/2024 State Street Bank & Trust Co. USD 1,838,688 CAD 2,500,934 (3,649)
06/06/2024 State Street Bank & Trust Co. USD 2,814,184 EUR 2,585,272 (8,823)
06/06/2024 State Street Bank & Trust Co. USD 1,566,163 GBP 1,226,107 (3,780)
07/05/2024 State Street Bank & Trust Co. CAD 96,452,138 USD 70,401,993 (410,478)
07/05/2024 State Street Bank & Trust Co. EUR 82,146,126 USD 88,957,354 (297,076)
07/05/2024 State Street Bank & Trust Co. GBP 91,660,904 USD 116,518,516 (298,409)
Subtotal—Depreciation (5,163,411)
Total Forward Foreign Currency Contracts $(4,109,544)
    
Abbreviations:
CAD – Canadian Dollar
EUR – Euro
GBP – British Pound Sterling
USD – U.S. Dollar
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 Equity and Income Fund
Notes to Quarterly Schedule of Portfolio Holdings
May 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 May 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 $7,560,635,158 $275,831,147 $— $7,836,466,305
U.S. Dollar Denominated Bonds & Notes — 2,354,848,396 — 2,354,848,396
U.S. Treasury Securities — 1,186,170,231 — 1,186,170,231
Preferred Stocks 66,392,810 — — 66,392,810
U.S. Government Sponsored Agency Mortgage-Backed Securities — 14,894,006 — 14,894,006
Municipal Obligations — 5,250,029 — 5,250,029
Money Market Funds 720,315,679 238,768,784 — 959,084,463
Total Investments in Securities 8,347,343,647 4,075,762,593 — 12,423,106,240
Other Investments - Assets*        
Futures Contracts 147,380 — — 147,380
Forward Foreign Currency Contracts — 1,053,867 — 1,053,867
  147,380 1,053,867 — 1,201,247
Other Investments - Liabilities*        
Forward Foreign Currency Contracts — (5,163,411) — (5,163,411)
Total Other Investments 147,380 (4,109,544) — (3,962,164)
Total Investments $8,347,491,027 $4,071,653,049 $— $12,419,144,076
    
* Unrealized appreciation (depreciation).
Invesco Equity and Income Fund