NPORT-EX 2 edgar.htm
Schedule of Investments
January 31, 2023
(Unaudited)
  Shares Value
Common Stocks & Other Equity Interests–96.08%
Australia–1.37%
CSL Ltd. 137,828    $29,092,203
Brazil–2.46%
B3 S.A. - Brasil, Bolsa, Balcao 7,237,406    18,477,391
MercadoLibre, Inc.(a) 13,664    16,146,612
Rede D’Or Sao Luiz S.A.(b) 2,764,000    17,369,265
      51,993,268
Canada–4.95%
CGI, Inc., Class A(a) 480,645    41,195,563
Magna International, Inc. 479,021    31,098,293
Ritchie Bros. Auctioneers, Inc. 539,472    32,622,537
      104,916,393
China–8.62%
Airtac International Group 930,000    31,895,581
China Mengniu Dairy Co. Ltd. 6,696,000    32,235,724
China Resources Beer Holdings Co. Ltd. 3,662,000    27,504,265
JD.com, Inc., ADR 491,512    29,259,710
Wuliangye Yibin Co. Ltd., A Shares 908,397    28,108,915
Yum China Holdings, Inc. 544,295    33,534,015
      182,538,210
Denmark–3.78%
Carlsberg A/S, Class B 165,007    23,345,818
Novo Nordisk A/S, Class B 409,643    56,728,844
      80,074,662
France–10.36%
Air Liquide S.A. 193,252    30,797,380
Arkema S.A. 295,847    29,981,974
Capgemini SE 15,770     2,990,596
LVMH Moet Hennessy Louis Vuitton SE 64,255    56,132,167
Pernod Ricard S.A. 107,859    22,316,729
Schneider Electric SE 273,622    44,369,815
TotalEnergies SE 528,287    32,821,059
      219,409,720
Germany–1.30%
Deutsche Boerse AG 154,312    27,573,951
Hong Kong–3.32%
AIA Group Ltd. 3,084,800    34,835,141
Techtronic Industries Co. Ltd. 2,756,000    35,532,440
      70,367,581
India–2.96%
HDFC Bank Ltd., ADR 788,713    53,127,708
SBI Life Insurance Co. Ltd.(b) 642,324     9,580,691
      62,708,399
Ireland–3.25%
CRH PLC 861,783    40,092,020
Flutter Entertainment PLC(a) 184,321    28,657,256
      68,749,276
  Shares Value
Italy–2.15%
FinecoBank Banca Fineco S.p.A. 2,534,011    $45,419,168
Japan–12.71%
Asahi Group Holdings Ltd. 890,200    29,427,559
FANUC Corp. 221,812    39,260,443
Hoya Corp. 258,400    28,453,953
Keyence Corp. 26,400    12,194,866
Komatsu Ltd. 807,700    19,795,561
Olympus Corp. 2,256,700    42,397,040
SMC Corp. 41,700    21,199,089
Sony Group Corp. 242,600    21,656,913
TIS, Inc. 928,100    26,693,074
Tokyo Electron Ltd. 80,000    28,073,645
      269,152,143
Mexico–2.89%
Wal-Mart de Mexico S.A.B. de C.V., Series V 15,613,302    61,158,076
Netherlands–5.72%
ASML Holding N.V. 45,213    29,942,918
Heineken N.V. 372,094    37,081,314
Shell PLC 591,978    17,387,723
Wolters Kluwer N.V. 336,553    36,679,822
      121,091,777
Singapore–1.65%
United Overseas Bank Ltd. 1,536,166    34,988,472
South Korea–1.74%
Samsung Electronics Co. Ltd. 737,226    36,849,431
Spain–1.83%
Amadeus IT Group S.A.(a) 616,325    38,771,140
Sweden–6.88%
Husqvarna AB, Class B 1,339,957    11,423,747
Investor AB, Class B 3,001,988    58,320,205
Sandvik AB 2,496,140    51,630,958
Svenska Handelsbanken AB, Class A 2,346,490    24,417,726
      145,792,636
Switzerland–1.20%
Kuehne + Nagel International AG, Class R 41,636     9,921,757
Logitech International S.A., Class R 265,939    15,568,875
      25,490,632
Taiwan–1.63%
Taiwan Semiconductor Manufacturing Co. Ltd. 1,959,887    34,576,702
United Kingdom–6.56%
Ashtead Group PLC 565,243    37,212,198
DCC PLC 383,750    21,862,694
Linde PLC 106,431    35,222,275
Reckitt Benckiser Group PLC 628,035    44,723,469
      139,020,636
 
See accompanying notes which are an integral part of this schedule.
Invesco EQV International Equity Fund
  Shares Value
United States–8.75%
Broadcom, Inc. 118,207    $69,152,277
Haleon PLC(a) 6,778,464    27,123,124
ICON PLC(a) 227,308    52,442,228
Nestle S.A. 299,477    36,545,613
      185,263,242
Total Common Stocks & Other Equity Interests (Cost $1,409,403,052) 2,034,997,718
Money Market Funds–3.87%
Invesco Government & Agency Portfolio, Institutional Class, 4.30%(c)(d) 28,771,947    28,771,947
  Shares Value
Money Market Funds–(continued)
Invesco Liquid Assets Portfolio, Institutional Class, 4.48%(c)(d) 20,402,355    $20,408,476
Invesco Treasury Portfolio, Institutional Class, 4.30%(c)(d) 32,882,225    32,882,225
Total Money Market Funds (Cost $82,060,519) 82,062,648
TOTAL INVESTMENTS IN SECURITIES—99.95% (Cost $1,491,463,571) 2,117,060,366
OTHER ASSETS LESS LIABILITIES–0.05% 1,068,335
NET ASSETS–100.00% $2,118,128,701
Investment Abbreviations:
ADR – American Depositary Receipt
Notes to Schedule of Investments:
(a) Non-income producing security.
(b) 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 January 31, 2023 was $26,949,956, which represented 1.27% of the Fund’s Net Assets.
(c) 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 three months ended January 31, 2023.
    
  Value
October 31, 2022 		Purchases
at Cost 		Proceeds
from Sales 		Change in
Unrealized
Appreciation
(Depreciation) 		Realized
Gain 		Value
January 31, 2023 		Dividend Income
Investments in Affiliated Money Market Funds:              
Invesco Government & Agency Portfolio, Institutional Class $8,293,455 $62,986,065 $(42,507,573) $- $- $28,771,947 $144,985
Invesco Liquid Assets Portfolio, Institutional Class 5,779,253 44,990,047 (30,362,553) (512) 2,241 20,408,476 106,859
Invesco Treasury Portfolio, Institutional Class 9,478,235 71,984,074 (48,580,084) - - 32,882,225 166,030
Investments Purchased with Cash Collateral from Securities on Loan:              
Invesco Private Government Fund 22,662,648 24,171,456 (46,834,104) - - - 68,472*
Invesco Private Prime Fund 58,261,438 61,657,047 (119,928,052) (3,002) 12,569 - 187,496*
Total $104,475,029 $265,788,689 $(288,212,366) $(3,514) $14,810 $82,062,648 $673,842
    
* 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.
    
(d) The rate shown is the 7-day SEC standardized yield as of January 31, 2023.
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 EQV International Equity Fund
Notes to Quarterly Schedule of Portfolio Holdings
January 31, 2023
(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 January 31, 2023. 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        
Australia $— $29,092,203 $— $29,092,203
Brazil 51,993,268 — — 51,993,268
Canada 104,916,393 — — 104,916,393
China 62,793,725 119,744,485 — 182,538,210
Denmark — 80,074,662 — 80,074,662
France — 219,409,720 — 219,409,720
Germany — 27,573,951 — 27,573,951
Hong Kong — 70,367,581 — 70,367,581
India 53,127,708 9,580,691 — 62,708,399
Ireland — 68,749,276 — 68,749,276
Italy — 45,419,168 — 45,419,168
Japan — 269,152,143 — 269,152,143
Mexico 61,158,076 — — 61,158,076
Netherlands — 121,091,777 — 121,091,777
Singapore — 34,988,472 — 34,988,472
South Korea — 36,849,431 — 36,849,431
Spain — 38,771,140 — 38,771,140
Sweden — 145,792,636 — 145,792,636
Switzerland — 25,490,632 — 25,490,632
Taiwan — 34,576,702 — 34,576,702
United Kingdom 35,222,275 103,798,361 — 139,020,636
United States 121,594,505 63,668,737 — 185,263,242
Money Market Funds 82,062,648 — — 82,062,648
Total Investments $572,868,598 $1,544,191,768 $— $2,117,060,366
Invesco EQV International Equity Fund