NPORT-EX 2 edgar.htm
Schedule of Investments(a)
January 31, 2022
(Unaudited)
  Shares Value
Common Stocks & Other Equity Interests–98.70%
Application Software–12.54%
Adobe, Inc.(b) 56,956    $30,431,591
Datadog, Inc., Class A(b) 149,200    21,799,612
Expensify, Inc., Class A(b)(c) 279,613     8,178,680
HubSpot, Inc.(b)(c) 55,858    27,303,390
RingCentral, Inc., Class A(b) 175,458    30,966,582
salesforce.com, inc.(b) 123,671    28,769,585
Synopsys, Inc.(b) 118,081    36,664,151
Workday, Inc., Class A(b) 51,379    12,999,401
      197,112,992
Automobile Manufacturers–0.47%
Tesla, Inc.(b) 7,947     7,444,114
Data Processing & Outsourced Services–3.46%
Adyen N.V. (Netherlands)(b)(d) 6,563    13,383,220
PayPal Holdings, Inc.(b) 238,360    40,983,619
      54,366,839
Health Care Equipment–2.06%
Intuitive Surgical, Inc.(b) 83,342    23,684,130
Shockwave Medical, Inc.(b)(c) 60,265     8,736,617
      32,420,747
Hotels, Resorts & Cruise Lines–0.97%
Booking Holdings, Inc.(b) 6,234    15,311,514
Interactive Home Entertainment–0.87%
Electronic Arts, Inc. 75,462    10,010,789
Sea Ltd., ADR (Taiwan)(b) 24,263     3,646,971
      13,657,760
Interactive Media & Services–12.97%
Alphabet, Inc., Class A(b) 52,089   140,956,480
Meta Platforms, Inc., Class A(b) 113,143    35,443,176
ZoomInfo Technologies, Inc., Class A(b) 517,787    27,370,221
      203,769,877
Internet & Direct Marketing Retail–3.37%
Amazon.com, Inc.(b) 17,706    52,966,968
Internet Services & Infrastructure–5.02%
Cloudflare, Inc., Class A(b) 203,081    19,577,008
MongoDB, Inc.(b)(c) 43,606    17,665,227
Shopify, Inc., Class A (Canada)(b) 13,570    13,084,737
Snowflake, Inc., Class A(b) 103,616    28,587,654
      78,914,626
Life Sciences Tools & Services–3.38%
Avantor, Inc.(b) 890,338    33,236,317
IQVIA Holdings, Inc.(b) 80,902    19,812,900
      53,049,217
Pharmaceuticals–0.08%
Reata Pharmaceuticals, Inc., Class A(b)(c) 45,002     1,265,456
  Shares Value
Semiconductor Equipment–6.04%
Applied Materials, Inc. 331,143    $45,757,340
ASML Holding N.V., New York Shares (Netherlands) 43,141    29,215,085
KLA Corp. 51,269    19,957,484
      94,929,909
Semiconductors–16.45%
Advanced Micro Devices, Inc.(b)(c) 252,415    28,838,414
Lattice Semiconductor Corp.(b) 419,060    23,140,493
Monolithic Power Systems, Inc. 40,062    16,142,182
NVIDIA Corp. 438,581   107,390,943
ON Semiconductor Corp.(b)(c) 436,049    25,726,891
QUALCOMM, Inc. 325,887    57,277,899
      258,516,822
Systems Software–21.43%
Darktrace PLC (United Kingdom)(b) 1,004,733     5,535,243
Gitlab, Inc., Class A(b)(c) 75,041     4,803,374
KnowBe4, Inc., Class A(b)(c) 891,093    21,314,945
Microsoft Corp. 578,020   179,752,660
Palo Alto Networks, Inc.(b) 82,093    42,474,918
ServiceNow, Inc.(b) 87,080    51,009,722
Zscaler, Inc.(b) 123,879    31,850,530
      336,741,392
Technology Hardware, Storage & Peripherals–9.59%
Apple, Inc. 862,622   150,769,073
Total Common Stocks & Other Equity Interests (Cost $965,364,937) 1,551,237,306
Money Market Funds–0.90%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%(e)(f) 4,775,073     4,775,073
Invesco Liquid Assets Portfolio, Institutional Class, 0.01%(e)(f) 3,982,707     3,983,106
Invesco Treasury Portfolio, Institutional Class, 0.01%(e)(f) 5,457,227     5,457,227
Total Money Market Funds (Cost $14,215,373) 14,215,406
TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-99.60% (Cost $979,580,310)     1,565,452,712
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds–4.00%
Invesco Private Government Fund, 0.02%(e)(f)(g) 18,865,547    18,865,547
Invesco Private Prime Fund, 0.11%(e)(f)(g) 44,010,806    44,019,607
Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $62,885,812) 62,885,154
TOTAL INVESTMENTS IN SECURITIES–103.60% (Cost $1,042,466,122) 1,628,337,866
OTHER ASSETS LESS LIABILITIES—(3.60)% (56,655,896)
NET ASSETS–100.00% $1,571,681,970
 
See accompanying notes which are an integral part of this schedule.
Invesco Technology Fund
Investment Abbreviations:
ADR – American Depositary Receipt
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) All or a portion of this security was out on loan at January 31, 2022.
(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 value of this security at January 31, 2022 represented less than 1% of the Fund’s Net Assets.
(e) 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 January 31, 2022.
    
  Value
April 30, 2021 		Purchases
at Cost 		Proceeds
from Sales 		Change in
Unrealized
Appreciation
(Depreciation) 		Realized
Gain
(Loss) 		Value
January 31, 2022 		Dividend Income
Investments in Affiliated Money Market Funds:              
Invesco Government & Agency Portfolio, Institutional Class $5,850,425 $153,282,548 $(154,357,900) $- $- $4,775,073 $1,043
Invesco Liquid Assets Portfolio, Institutional Class 4,757,529 109,487,535 (110,260,733) (643) (582) 3,983,106 381
Invesco Treasury Portfolio, Institutional Class 6,686,199 175,180,055 (176,409,027) - - 5,457,227 469
Investments Purchased with Cash Collateral from Securities on Loan:              
Invesco Private Government Fund 19,842,453 218,331,791 (219,308,697) - - 18,865,547 2,505*
Invesco Private Prime Fund 29,763,679 492,703,869 (478,440,363) (658) (6,920) 44,019,607 32,516*
Total $66,900,285 $1,148,985,798 $(1,138,776,720) $(1,301) $(7,502) $77,100,560 $36,914
    
* 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.
    
(f) The rate shown is the 7-day SEC standardized yield as of January 31, 2022.
(g) 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 Technology Fund
Notes to Quarterly Schedule of Portfolio Holdings
January 31, 2022
(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.
The following is a summary of the tiered valuation input levels, as of January 31, 2022. 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 $1,532,318,843 $18,918,463 $— $1,551,237,306
Money Market Funds 14,215,406 62,885,154 — 77,100,560
Total Investments $1,546,534,249 $81,803,617 $— $1,628,337,866
Invesco Technology Fund