ivzofi825soi73119.htm - Generated by SEC Publisher for SEC Filing

SCHEDULE OF INVESTMENTS July 31, 2019 Unaudited


	Shares	Value			Shares	Value
Common Stocks—98.5%			Food & Staples Retailing (Continued)
Consumer Discretionary—16.1%			CP ALL PCL		74,529,700$	209,873,537
Auto Components—3.3%						514,217,461
Continental AG	730,704$	101,077,666	Food Products—4.0%
Koito			Barry Callebaut AG		115,008	224,972,774
Manufacturing Co.			Saputo, Inc.		5,583,497	168,630,240
Ltd.	5,187,400	259,822,756	WH Group Ltd.²	298,786,000		291,342,218
Valeo SA	6,456,203	201,515,881				684,945,232
		562,416,303
			Tobacco—0.8%
Entertainment—1.1%			Swedish Match AB		3,337,257	127,550,115
Ubisoft
Entertainment SA¹	2,350,970	194,949,137	Energy—1.4%
Hotels, Restaurants & Leisure—1.1%			Energy Equipment & Services—1.4%
Carnival Corp.	3,804,919	179,706,324	TechnipFMC plc		8,918,906	245,056,344
Flutter			Financials—4.3%
Entertainment plc	225,450	17,858,763	Commercial Banks—2.0%
		197,565,087	ICICI Bank Ltd. ,
Household Durables—1.7%			Sponsored ADR		27,653,915	337,654,302
SEB SA, Prime¹	1,763,577	282,477,881	Insurance—2.3%
Internet & Catalog Retail—1.2%			Legal & General
			Group plc		48,148,213	152,718,859
Alibaba Group			Prudential plc		11,607,103	239,383,691
Holding Ltd. ,
Sponsored ADR¹	1,171,249	202,754,915				392,102,550
Multiline Retail—1.2%			Health Care—17.4%
Dollarama, Inc.	5,392,866	199,811,447	Biotechnology—4.8%
			Ascendis Pharma
Specialty Retail—1.3%			AS, ADR¹		441,150	51,067,524
Nitori Holdings			CSL Ltd.		1,880,883	293,695,554
Co. Ltd.	1,676,500	226,196,745	Galapagos NV¹		482,281	83,682,276
Textiles, Apparel & Luxury Goods—5.2%			Grifols SA		11,917,554	385,465,499
Cie Financiere						813,910,853
Richemont SA	2,526,490	215,642,711	Health Care Equipment & Supplies—5.6%
Hermes			Hoya Corp.		4,444,410	341,468,473
International	591,362	415,586,335	LivaNova plc¹		758,370	58,432,409
LVMH Moet			Medtronic plc		1,479,760	150,846,734
Hennessy Louis			ResMed, Inc.		1,200,570	154,513,359
Vuitton SE	593,960	245,598,439	Siemens
		876,827,485	Healthineers AG²		5,943,034	248,280,274
Consumer Staples—10.3%						953,541,249
Beverages—2.5%			Health Care Providers & Services—1.1%
Heineken NV	1,705,440	183,044,937	Fresenius Medical
Pernod Ricard SA	1,339,892	234,603,258	Care AG & Co.
		417,648,195	KGaA		2,638,466	183,784,236
Food & Staples Retailing—3.0%			Life Sciences Tools & Services—1.9%
Alimentation			Lonza Group AG¹		922,932	315,726,738
Couche-Tard, Inc. ,
Cl. B	4,965,057	304,343,924	Pharmaceuticals—4.0%
			Bayer AG		2,558,464	166,175,428

1 INVESCO OPPENHEIMER INTERNATIONAL GROWTH FUND

SCHEDULE OF INVESTMENTS Unaudited / Continued


	Shares	Value		Shares	Value
Pharmaceuticals (Continued)			Electronic Equipment, Instruments, & Components
Novo Nordisk AS,			(Continued)
Cl. B	6,039,291$	289,865,728	Keyence Corp.	571,842$	326,342,308
Roche Holding AG	849,603	227,485,127			719,002,274
		683,526,283	IT Services—3.5%
Industrials—19.1%			Amadeus IT Group
Aerospace & Defense—1.7%			SA	2,423,534	189,568,305
Airbus SE	2,044,713	289,071,843	Atos SE	344,930	27,788,166
Commercial Services & Supplies—3.7%			EPAM Systems, Inc.¹	1,342,850	260,230,902
Edenred	7,354,230	368,778,870	Worldline SA^1,2	1,691,524	120,931,649
Prosegur Cash SA²	50,298,553	101,923,151			598,519,022
Prosegur Cia de			Semiconductors & Semiconductor
Seguridad SA³	33,852,711	157,732,031	Equipment—8.1%
		628,434,052	ams AG^1,3	2,837,018	147,948,967
Construction & Engineering—0.5%			ASML Holding NV	1,965,302	435,914,995
Boskalis			Infineon
Westminster³	3,389,218	76,672,671	Technologies AG	21,816,406	413,425,918
			STMicroelectronics
Electrical Equipment—3.8%			NV	17,924,660	328,997,108
Legrand SA	3,142,070	221,497,808	Taiwan
Melrose Industries			Semiconductor
plc	64,097,000	143,811,528	Manufacturing Co.
Nidec Corp.	2,081,570	279,240,580	Ltd.	6,227,000	51,481,553
		644,549,916			1,377,768,541
Machinery—7.0%			Software—7.8%
Aalberts NV	4,569,907	183,776,187	Atlassian Corp. plc,
Atlas Copco AB,			Cl. A¹	458,750	64,280,050
Cl. A	8,510,013	260,669,965	Blue Prism Group
Epiroc AB, Cl. A	15,034,743	164,641,546	plc¹	989,390	17,160,481
Kubota Corp.	11,720,600	181,623,845	Dassault Systemes
VAT Group AG^1,2,3	2,209,117	276,060,758	SE	1,220,490	184,761,075
Weir Group plc			SAP SE	3,460,349	429,248,619
(The)	7,038,288	127,461,249	Temenos AG¹	1,983,470	348,387,177
		1,194,233,550	Xero Ltd.¹	6,341,611	280,404,080
Professional Services—1.0%					1,324,241,482
Intertek Group plc	2,363,020	163,353,694	Materials—4.0%
Trading Companies & Distributors—1.4%			Chemicals—1.5%
Bunzl plc	4,311,220	112,822,916	Sika AG	1,786,000	258,070,199
Ferguson plc	1,765,669	131,502,625	Construction Materials—0.7%
		244,325,541	James Hardie
Information Technology—25.9%			Industries plc	9,032,471	121,569,605
Communications Equipment—2.2%			Containers & Packaging—1.8%
Nokia OYJ	68,994,799	371,771,189	CCL Industries, Inc. ,
Electronic Equipment, Instruments, &			Cl. B	6,038,348	301,963,152
Components—4.3%			Total Common Stocks
			(Cost $11,540,167,857)	16,726,209,289
Hitachi Ltd.	11,039,400	392,659,966

2 INVESCO OPPENHEIMER INTERNATIONAL GROWTH FUND


	Shares	Value			Shares		Value
Preferred Stock—0.0%				Investment Company—0.7%
Zee Entertainment				Invesco
Enterprises Ltd. , 6%				Oppenheimer
Cum. Non-Cv. (Cost				Institutional
$—)	17,213,928 $	1,351,388		Government Money
				Market Fund, Cl.
				IN, 2.29%⁴(Cost
			$	118,353,726)	118,353,726	$	118,353,726

				Total
				Investments,
				at Value (Cost
			$	11,658,521,583)	99.2% 16,845,914,403
				Net Other Assets
				(Liabilities)	0.8		128,741,718
				Net Assets	100.0% $ 16,974,656,121

Footnotes to Schedule of Investments
1. Non-income producing security.
2. 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 July 31, 2019 was
$1,038,538,050, which represented 6.12% of the Fund’s Net Assets.
3. Is or was an affiliate, as defined in the Investment Company Act of 1940, as amended, at or during the reporting
period, by virtue of the Fund owning at least 5% of the voting securities of the issuer or as a result of the Fund and
the issuer having the same investment adviser. Transactions during the reporting period in which the issuer was an
affiliate are as follows:


		Shares
		November 30,		Gross		Gross	Shares
		2018		Additions		Reductions	July 31, 2019
Common Stock
Commercial Services &
Supplies
Prosegur Cia de Seguridad SA		33,680,042		172,669		—	33,852,711
Construction & Engineering
Boskalis Westminster^a		9,911,736		37,615		6,560,133	3,389,218
Domino's Pizza Group plc		42,691,271		—		42,691,271	—
Scout24 AG		6,062,080		—		6,062,080	—
Machinery
VAT Group AG		2,197,849		11,268		—	2,209,117
Semiconductors &
Semiconductor Equipment
ams AG^a		4,793,798		—		1,956,780	2,837,018
							Change in
						Realized	Unrealized
		Value		Income		Gain (Loss)	Gain (Loss)
Common Stock
Commercial Services &
Supplies
Prosegur Cia de Seguridad SA	$	157,732,031	$	2,972,355	$	— $	(18,467,579	)
Construction & Engineering

3 INVESCO OPPENHEIMER INTERNATIONAL GROWTH FUND

SCHEDULE OF INVESTMENTS Unaudited / Continued

Footnotes to Schedule of Investments (Continued)


										Change in
							Realized			Unrealized
		Value			Income		Gain (Loss)			Gain (Loss)
Boskalis Westminster^a	$	—^b$			3,380,259	$	(93,643,504	)	$	54,096,970
Domino's Pizza Group plc		—			2,227,151		26,683,395			(31,680,380)
Scout24 AG		—			—		73,040,032			(22,133,334)
Machinery
VAT Group AG		276,060,758			8,761,557		—			45,323,819
Semiconductors &
Semiconductor Equipment
ams AG^a		—^b		— (149,702,892				)		219,727,161
Total	$	433,792,789	$		17,341,322 $ (143,622,969)				$	246,866,657
a. No longer an affiliate at period end.
b. The security is no longer an affiliate. Therefore, the value has been excluded from this table.

4. 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 July 31, 2019.

Distribution of investments representing geographic holdings, as a percentage of total investments at value, is as
follows:


Geographic Holdings		Value	Percent
France	$	2,787,560,343	16.6%
Switzerland		2,195,342,593	13.0
Japan		2,007,354,674	11.9
Germany		1,541,992,140	9.2
United Kingdom		1,201,768,762	7.1
Canada		974,748,763	5.8
United States		922,083,454	5.5
Netherlands		879,408,790	5.2
Spain		834,688,986	5.0
Sweden		552,861,626	3.3
Finland		371,771,189	2.2
Australia		357,975,603	2.1
Denmark		340,933,252	2.0
India		339,005,690	2.0
Hong Kong		291,342,218	1.7
New Zealand		280,404,080	1.7
Thailand		209,873,537	1.2
China		202,754,914	1.2
Austria		147,948,967	0.9
Ireland		139,428,368	0.8
Jersey, Channel Islands		131,502,625	0.8
Belgium		83,682,276	0.5
Taiwan		51,481,553	0.3
Total	$ 16,845,914,403		100.0%

4 INVESCO OPPENHEIMER INTERNATIONAL GROWTH FUND

NOTES TO SCHEDULE OF INVESTMENTS July 31, 2019 Unaudited

Note 1 – Additional Valuation Information

The following is a summary of the tiered valuation input levels, as of July 31, 2019. 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 3—
		Level 1—	Level 2—	Significant
		Unadjusted	Other Significant Unobservable
		Quoted Prices Observable Inputs		Inputs	Value
Assets Table
Investments, at Value:
Common Stocks
Consumer Discretionary	$	582,272,686$	2,160,726,314$	— $	2,742,999,000
Consumer Staples		472,974,164	1,271,386,839	—	1,744,361,003
Energy		—	245,056,344	—	245,056,344
Financials		337,654,302	392,102,550	—	729,756,852
Health Care		414,860,026	2,535,629,333	—	2,950,489,359
Industrials		—	3,240,641,267	—	3,240,641,267
Information Technology		324,510,952	4,066,791,556	—	4,391,302,508

Materials		301,963,152	379,639,804	—	681,602,956
Preferred Stock		1,351,388	—	—	1,351,388
Investment Company		118,353,726	—	—	118,353,726
Total Assets	$ 2,553,940,396 $ 14,291,974,007 $			— $ 16,845,914,403

Forward currency exchange contracts and futures contracts, if any, are reported at their
unrealized appreciation/depreciation at measurement date, which represents the change in
the contract’s value from trade date. All additional assets and liabilities included in the above
table are reported at their market value at measurement date.

The table below shows the transfers between Level 1 and Level 2. The Fund's policy is to
recognize transfers in and transfers out as of the beginning of the reporting period.


		Transfers out	Transfers into
		of Level 1*	Level 2*
Assets Table
Investments, at
Value:
Common Stocks
Consumer
Discretionary	$	276,878,659 $	276,878,659
Industrials		275,849,592	275,849,592
Information
Technology		623,788,349	623,788,349
Total Assets	$	1,176,516,600 $	1,176,516,600

5 INVESCO OPPENHEIMER INTERNATIONAL GROWTH FUND

NOTES TO SCHEDULE OF INVESTMENTS Unaudited / Continued

* Transfers from Level 1 to Level 2 are a result of a change in pricing methodology to the use of a valuation
determined based on observable market information other than quoted prices from an active market due to a lack of
available unadjusted quoted prices.

6 INVESCO OPPENHEIMER INTERNATIONAL GROWTH FUND