NPORT-EX 2 edgar.htm
Schedule of Investments(a)
January 31, 2020
(Unaudited)
  Shares Value
Common Stocks & Other Equity Interests–98.73%
Aerospace & Defense–3.17%
HEICO Corp. 315,105    $38,578,305
TransDigm Group, Inc. 89,960    57,869,469
      96,447,774
Apparel Retail–0.90%
Burlington Stores, Inc.(b) 125,593    27,312,710
Apparel, Accessories & Luxury Goods–1.81%
lululemon athletica, inc.(b) 229,836    55,020,440
Application Software–11.39%
ANSYS, Inc.(b) 107,432    29,471,821
Aspen Technology, Inc.(b) 171,732    20,432,673
Atlassian Corp. PLC, Class A(b) 282,500    41,527,500
Coupa Software, Inc.(b) 165,743    26,709,484
DocuSign, Inc.(b) 62,008     4,868,248
Paycom Software, Inc.(b) 92,915    29,561,836
RingCentral, Inc., Class A(b) 336,212    69,118,463
Splunk, Inc.(b) 245,652    38,139,929
Synopsys, Inc.(b) 425,005    62,692,488
Trade Desk, Inc. (The), Class A(b) 88,687    23,872,767
      346,395,209
Asset Management & Custody Banks–0.80%
KKR & Co., Inc., Class A 759,847    24,239,119
Auto Parts & Equipment–0.63%
Aptiv PLC 227,822    19,317,027
Automotive Retail–2.60%
CarMax, Inc.(b) 225,562    21,888,537
O’Reilly Automotive, Inc.(b) 141,134    57,314,517
      79,203,054
Biotechnology–0.46%
Seattle Genetics, Inc.(b) 130,298    14,123,000
Building Products–0.25%
Masco Corp. 162,360     7,715,347
Cable & Satellite–1.08%
Cable One, Inc. 19,365    32,998,541
Communications Equipment–0.66%
Motorola Solutions, Inc. 112,706    19,948,962
Construction Materials–0.88%
Martin Marietta Materials, Inc. 100,991    26,641,426
Consumer Electronics–0.51%
Garmin Ltd. 159,994    15,511,418
Data Processing & Outsourced Services–3.28%
Euronet Worldwide, Inc.(b) 187,747    29,596,437
Global Payments, Inc. 241,892    47,277,792
WEX, Inc.(b) 105,223    22,824,973
      99,699,202
  Shares Value
Distributors–1.91%
Pool Corp. 265,007    $58,116,035
Diversified Support Services–2.96%
Cintas Corp. 168,631    47,042,990
Copart, Inc.(b) 424,932    43,113,601
      90,156,591
Education Services–1.32%
Bright Horizons Family Solutions, Inc.(b) 244,486    40,029,693
Electrical Components & Equipment–1.15%
AMETEK, Inc. 359,314    34,907,355
Electronic Equipment & Instruments–0.86%
Keysight Technologies, Inc.(b) 280,228    26,058,402
Environmental & Facilities Services–2.11%
Clean Harbors, Inc.(b) 232,032    19,077,671
Republic Services, Inc. 474,078    45,061,114
      64,138,785
Fertilizers & Agricultural Chemicals–0.58%
FMC Corp. 184,284    17,615,708
Financial Exchanges & Data–3.28%
MarketAxess Holdings, Inc. 68,298    24,189,786
MSCI, Inc. 207,148    59,202,898
Tradeweb Markets, Inc., Class A 352,326    16,270,415
      99,663,099
Health Care Equipment–8.75%
DexCom, Inc.(b) 281,454    67,760,050
Edwards Lifesciences Corp.(b) 160,265    35,235,863
IDEXX Laboratories, Inc.(b) 99,114    26,860,885
Masimo Corp.(b) 200,866    34,267,740
Novocure Ltd.(b) 165,069    13,446,521
ResMed, Inc. 143,913    22,877,850
STERIS PLC 220,011    33,153,457
Teleflex, Inc. 87,153    32,378,211
      265,980,577
Health Care Supplies–1.37%
Cooper Cos., Inc. (The) 30,894    10,716,820
West Pharmaceutical Services, Inc. 198,682    30,984,458
      41,701,278
Health Care Technology–0.76%
Veeva Systems, Inc., Class A(b) 158,764    23,276,390
Homebuilding–0.75%
D.R. Horton, Inc. 387,424    22,935,501
Hotels, Resorts & Cruise Lines–1.53%
Choice Hotels International, Inc. 158,623    15,894,025
Hilton Worldwide Holdings, Inc. 283,527    30,564,210
      46,458,235
Industrial Conglomerates–2.80%
Carlisle Cos., Inc. 182,990    28,588,528
 
See accompanying notes which are an integral part of this schedule.
Invesco Mid Cap Growth Fund
  Shares Value
Industrial Conglomerates–(continued)
Roper Technologies, Inc. 148,293    $56,597,506
      85,186,034
Industrial Machinery–1.66%
IDEX Corp. 172,341    28,238,073
Nordson Corp. 131,376    22,184,151
      50,422,224
Insurance Brokers–1.09%
Arthur J. Gallagher & Co. 323,891    33,221,500
Interactive Media & Services–1.07%
IAC/InterActiveCorp.(b) 133,515    32,522,919
Internet Services & Infrastructure–0.93%
Twilio, Inc., Class A(b) 227,194    28,249,302
Investment Banking & Brokerage–1.19%
LPL Financial Holdings, Inc. 391,585    36,076,726
IT Consulting & Other Services–2.24%
Booz Allen Hamilton Holding Corp. 498,853    38,930,488
EPAM Systems, Inc.(b) 128,199    29,247,320
      68,177,808
Leisure Facilities–0.82%
Planet Fitness, Inc., Class A(b) 309,073    24,970,008
Life Sciences Tools & Services–3.65%
Bio-Rad Laboratories, Inc., Class A(b) 64,895    23,421,903
Bio-Techne Corp. 109,070    22,901,428
ICON PLC (Ireland)(b) 197,202    33,252,201
IQVIA Holdings, Inc.(b) 201,950    31,352,738
      110,928,270
Metal & Glass Containers–0.84%
Ball Corp. 353,563    25,520,177
Movies & Entertainment–1.40%
Live Nation Entertainment, Inc.(b) 459,432    31,314,885
Roku, Inc.(b) 93,626    11,324,065
      42,638,950
Office REITs–0.86%
Alexandria Real Estate Equities, Inc. 159,635    26,052,432
Oil & Gas Storage & Transportation–0.43%
Cheniere Energy, Inc.(b) 220,176    13,043,226
Packaged Foods & Meats–1.83%
Lamb Weston Holdings, Inc. 126,064    11,510,904
McCormick & Co., Inc. 175,199    28,622,260
Simply Good Foods Co. (The)(b) 78,737     1,808,589
Tyson Foods, Inc., Class A 165,403    13,667,250
      55,609,003
Paper Packaging–0.51%
Avery Dennison Corp. 117,703    15,447,342
  Shares Value
Railroads–1.26%
Kansas City Southern 226,646    $38,232,914
Real Estate Services–1.11%
CBRE Group, Inc., Class A(b) 555,005    33,883,055
Regional Banks–1.16%
First Republic Bank 318,989    35,369,500
Research & Consulting Services–4.48%
CoStar Group, Inc.(b) 89,670    58,553,613
IHS Markit Ltd.(b) 405,653    31,989,795
TransUnion 499,288    45,784,710
      136,328,118
Restaurants–1.50%
Chipotle Mexican Grill, Inc.(b) 52,585    45,578,575
Semiconductor Equipment–4.17%
KLA Corp. 326,928    54,185,046
Lam Research Corp. 196,142    58,491,506
MKS Instruments, Inc. 134,089    14,055,209
      126,731,761
Semiconductors–4.37%
Advanced Micro Devices, Inc.(b) 962,559    45,240,273
Marvell Technology Group Ltd. 1,063,566    25,568,127
Monolithic Power Systems, Inc. 212,783    36,422,066
NXP Semiconductors N.V. (Netherlands) 203,634    25,833,009
      133,063,475
Specialized REITs–1.03%
SBA Communications Corp., Class A 125,904    31,420,602
Technology Distributors–1.64%
CDW Corp. 382,791    49,935,086
Trucking–0.94%
Old Dominion Freight Line, Inc. 145,420    28,535,767
Total Common Stocks & Other Equity Interests (Cost $2,454,812,895) 3,002,755,652
Money Market Funds–1.21%
Invesco Government & Agency Portfolio, Institutional Class, 1.48%(c) 13,072,030    13,072,030
Invesco Liquid Assets Portfolio, Institutional Class, 1.66%(c) 8,777,071     8,780,582
Invesco Treasury Portfolio, Institutional Class, 1.47%(c) 14,939,463    14,939,463
Total Money Market Funds (Cost $36,792,075) 36,792,075
TOTAL INVESTMENTS IN SECURITIES–99.94% (Cost $2,491,604,970) 3,039,547,727
OTHER ASSETS LESS LIABILITIES—0.06% 1,842,960
NET ASSETS–100.00% $3,041,390,687
Investment Abbreviations:
REIT – Real Estate Investment Trust
See accompanying notes which are an integral part of this schedule.
Invesco Mid Cap Growth 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) Non-income producing security.
(c) The money market fund and the Fund are affiliated by having the same investment adviser. The rate shown is the 7-day SEC standardized yield as of January 31, 2020.
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 Mid Cap Growth Fund
Notes to Quarterly Schedule of Portfolio Holdings
January 31, 2020
(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 or are unreliable. 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 the Fund’s 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.
As of January 31, 2020, all of the securities in this Fund were valued based on Level 1 inputs (see the Schedule of Investments for security categories). 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.
NOTE 2—Subsequent Event
The World Health Organization has declared the coronavirus (COVID-19) to be a public health emergency. COVID-19 has led to increased short-term market volatility and may have adverse long-term effects on U.S. and world economies and markets in general. COVID-19 may adversely impact the Fund’s ability to achieve its investment objective, as stated in the most recent shareholder report. Because of the uncertainties on valuation, the global economy and business operations, values reflected in the Schedule of Investments may materially differ from the value received upon actual sales of those investments.
Invesco Mid Cap Growth Fund