NPORT-EX 1 ivzofi254soi73119.htm ivzofi254soi73119.htm - Generated by SEC Publisher for SEC Filing

SCHEDULE OF INVESTMENTS July 31, 2019 Unaudited

    Shares  Value      Shares  Value 
Common Stocks—95.6%    Textiles, Apparel & Luxury Goods (Continued) 
Consumer Discretionary—26.2%    LVMH Moet       
Auto Components—2.0%    Hennessy Louis       
Bridgestone Corp.    553,600$   20,780,687  Vuitton SE    49,920$   20,641,582 
Valeo SA    502,400     15,681,288        36,561,957 
      36,461,975  Consumer Staples—14.9%   
Automobiles—1.9%      Beverages—5.1%     
Volkswagen AG    200,632     33,592,474  Coca-Cola       
        European Partners       
Entertainment—4.0%    plc    637,330     35,231,602 
NCSoft Corp.    12,678     5,136,810  Diageo plc    889,240     37,103,258 
Nexon Co. Ltd.1    1,458,000     23,133,935  Pernod Ricard SA    111,130     19,457,882 
Nintendo Co. Ltd.    122,300     44,807,189        91,792,742 
      73,077,934         
        Food Products—4.9%   
Hotels, Restaurants & Leisure—4.3%    Danone SA    497,358     43,120,730 
Accor SA    481,460     21,424,900  Nestle SA    175,516     18,625,313 
Kangwon Land, Inc.   326,590     8,449,240  WH Group Ltd.2    27,794,000     27,101,556 
Sands China Ltd.    3,821,600     18,471,134        88,847,599 
Yum China               
Holdings, Inc.    655,300     29,816,150  Personal Products—3.0%   
      78,161,424  Amorepacific Corp.    75,914     8,943,378 
        Hengan       
Household Durables—2.0%    International Group       
Sony Corp.    647,800     36,791,412  Co. Ltd.    2,528,500     19,027,975 
Interactive Media & Services—2.1%    LG Household &       
Baidu, Inc. ,        Health Care Ltd.    17,600     18,638,782 
Sponsored ADR1    37,460     4,184,282  Pola Orbis Holdings,       
Tencent Holdings        Inc.    263,200     6,605,703 
Ltd.    714,300     33,408,083        53,215,838 
      37,592,365  Tobacco—1.9%       
Internet & Catalog Retail—3.3%    Philip Morris       
Alibaba Group        International, Inc.    295,640     24,718,461 
Holding Ltd. ,        Swedish Match AB    260,366     9,951,200 
Sponsored ADR1    343,451     59,454,803        34,669,661 
Leisure Products—2.1%    Energy—3.4%       
Bandai Namco        Oil, Gas & Consumable Fuels—3.4%   
Holdings, Inc.    709,900     37,981,244  BP plc    3,648,530     24,061,399 
Media—0.7%        TOTAL SA    727,710     37,707,625 
CyberAgent, Inc.    298,200     12,043,765        61,769,024 
Specialty Retail—1.8%    Financials—7.5%       
Dufry AG1    110,977     9,740,380  Commercial Banks—4.3%   
Industria de Diseno        BNP Paribas SA    346,910     16,119,943 
Textil SA    770,689     22,984,756  BOC Hong Kong       
      32,725,136  Holdings Ltd.    4,921,000     18,834,117 
        HSBC Holdings plc    2,724,170     21,695,831 
Textiles, Apparel & Luxury Goods—2.0%  ING Groep NV    2,000,787     22,206,502 
China Hongxing              78,856,393 
Sports Ltd.1    36,005,000     0         
Kering SA    30,820     15,920,375         

 

1 INVESCO OPPENHEIMER INTERNATIONAL EQUITY FUND

 

SCHEDULE OF INVESTMENTS Unaudited / Continued

    Shares  Value      Shares  Value 
Insurance—2.7%        Information Technology—10.6%   
Japan Post        Electronic Equipment, Instruments, &   
Insurance Co. Ltd.    511,100$   8,519,910  Components—3.8%     
Prudential plc    1,956,742     40,355,644  Murata       
      48,875,554  Manufacturing Co.       
Real Estate Investment Trusts (REITs)—0.5%  Ltd.    393,900$   17,370,189 
Unibail-Rodamco-        TDK Corp.    263,400     20,294,002 
Westfield    62,908     8,421,611  TE Connectivity Ltd.   337,460     31,181,304 
              68,845,495 
Health Care—2.8%             
Health Care Equipment & Supplies—0.5%  IT Services—0.1%     
Medtronic plc    94,290     9,611,923  Worldline SA1,2    23,480     1,678,649 
Health Care Providers & Services—0.5%  Semiconductors & Semiconductor   
Fresenius Medical        Equipment—3.1%     
Care AG & Co.        STMicroelectronics       
KGaA    116,805     8,136,136  NV    1,815,670     33,135,977 
        Taiwan       
Pharmaceuticals—1.8%    Semiconductor       
Bayer AG    221,896     14,412,422  Manufacturing Co.       
Takeda        Ltd. , Sponsored       
Pharmaceutical        ADR    547,750     23,350,583 
Co. Ltd.    523,900     18,126,464        56,486,560 
      32,538,886  Software—3.6%       
Industrials—14.9%      Oracle Corp. Japan    225,100     18,682,961 
Aerospace & Defense—5.7%    SAP SE    375,858     46,624,351 
Airbus SE    479,230     67,751,269        65,307,312 
MTU Aero Engines        Materials—10.0%     
AG    69,413     17,361,384         
Rolls-Royce        Chemicals—4.3%       
Holdings plc1    1,693,770     17,710,145  Air Liquide SA    362,152     49,981,036 
      102,822,798  Akzo Nobel NV    289,904     27,346,724 
              77,327,760 
Electrical Equipment—0.9%           
Mitsubishi Electric        Metals & Mining—5.7%   
Corp.    1,186,900     15,510,719  Agnico Eagle Mines       
        Ltd.    572,850     29,919,956 
Machinery—1.7%      Anglo American plc   1,148,194     28,346,691 
Komatsu Ltd.    583,100     13,000,035  Wheaton Precious       
SMC Corp.    49,700     18,060,551  Metals Corp.    1,741,320     45,483,278 
      31,060,586        103,749,925 
Professional Services—4.3%    Telecommunication Services—5.3%   
Bureau Veritas SA    396,980     9,894,570  Diversified Telecommunication Services—2.7% 
Recruit Holdings        Nippon Telegraph &       
Co. Ltd.    1,977,200     67,286,016  Telephone Corp.    446,500     20,151,888 
      77,180,586  Spark New Zealand       
Road & Rail—0.9%      Ltd.    11,050,954     28,854,032 
Seibu Holdings, Inc.   1,029,500     16,187,149        49,005,920 
Trading Companies & Distributors—1.4%  Wireless Telecommunication Services—2.6% 
ITOCHU Corp.    1,346,100     25,684,247  Rogers       
        Communications,       
        Inc. , Cl. B    326,008     16,922,873 

 

2 INVESCO OPPENHEIMER INTERNATIONAL EQUITY FUND

 

  Shares   Value            Shares   Value 
Wireless Telecommunication Services (Continued)    Investment Company—4.1%    
SK Telecom Co. Ltd.   138,495 $   28,964,571    Invesco            
    45,887,444    Oppenheimer            
Total Common Stocks          Institutional            
(Cost $1,570,091,213)    1,727,915,006    Government Money        
              Market Fund,            
          2.29%3 (Cost            
        $ 74,504,404)    74,504,404 $   74,504,404 
                          
          Total            
          Investments,            
          at Value (Cost        
        $ 1,644,595,617)  99.7 %   1,802,419,410 
          Net Other Assets        
          (Liabilities)       0.3   5,124,979 
          Net Assets       100.0%                            $ 1,807,544,389 

 

Footnotes to Statement 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
$28,780,205, which represented 1.59% of the Fund’s Net Assets.
3. 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 
Japan  $   441,018,067     24.5% 
France      327,801,459     18.2  
China      145,891,293     8.1  
United Kingdom      140,926,277     7.8  
Germany      120,126,767     6.7  
United States      108,834,787     6.0  
Switzerland      92,682,975     5.1  
Canada      92,326,107     5.1  
South Korea      70,132,780     3.9  
Hong Kong      64,406,808     3.6  
Netherlands      49,553,226     2.7  
Eurozone      35,231,602     2.0  
New Zealand      28,854,032     1.6  
South Africa      28,346,691     1.6  
Taiwan      23,350,583     1.3  
Spain      22,984,756     1.3  
Sweden      9,951,200     0.5  
Total  $   1,802,419,410     100.0% 

 

3 INVESCO OPPENHEIMER INTERNATIONAL EQUITY FUND

 

NOTES TO SCHEDULE OF INVESTMENTS July 31, 2019 Unaudited

1. Securities Valuation
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  $   93,455,235$   380,989,254$   — $   474,444,489 
Consumer Staples      59,950,063     208,575,777    —     268,525,840 
Energy      —     61,769,024    —     61,769,024 
Financials      —     136,153,558    —     136,153,558 
Health Care      9,611,923     40,675,022    —     50,286,945 
Industrials      —     268,446,085    —     268,446,085 
Information Technology      87,667,864     104,650,152    —     192,318,016 
Materials      75,403,234     105,674,451    —     181,077,685 
Telecommunication Services      16,922,873     77,970,491    —     94,893,364 
Investment Company      74,504,404     —     —     74,504,404 
Total Assets  $   417,515,596                     $ 1,384,903,814                            $   — $   1,802,419,410 

 

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  $   26,677,494 $   26,677,494 
Financials      14,482,112     14,482,112 
Industrials      44,177,650     44,177,650 
Telecommunication       
Services      18,408,316     18,408,316 
Total Assets  $   103,745,572 $   103,745,572 

 

*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.

4 INVESCO OPPENHEIMER INTERNATIONAL EQUITY FUND