| ADR | – American Depositary Receipt |
| BR | – Bearer Shares |
| CPO | – Certificates of Ordinary Participation |
| GDR | – Global Depositary Receipt |
| PC | – Participation Certificate |
| Pfd. | – Preferred |
| (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 $200,026, which represented less than 1% of the Fund’s Net Assets. |
| (c) | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| (d) | Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund. |
| (e) | Zero coupon bond issued at a discount. |
| (f) | 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 | $1,503,463 | $1,644,822 | $(1,836,572) | $- | $- | $1,311,713 | $16,366 |
| Invesco Liquid Assets Portfolio, Institutional Class | 1,074,009 | 1,174,873 | (1,311,838) | 75 | 74 | 937,193 | 13,334 |
| Invesco Treasury Portfolio, Institutional Class | 1,718,243 | 1,879,797 | (2,098,939) | - | - | 1,499,101 | 20,517 |
| Investments Purchased with Cash Collateral from Securities on Loan: | |||||||
| Invesco Private Government Fund | 18,242 | 30,014 | (48,256) | - | - | - | 22* |
| Invesco Private Prime Fund | 46,646 | 71,217 | (117,864) | (4) | 5 | - | 59* |
| Total | $4,360,603 | $4,800,723 | $(5,413,469) | $71 | $79 | $3,748,007 | $50,298 |
| * | 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. |
| (g) | The rate shown is the 7-day SEC standardized yield as of January 31, 2023. |
| Open Exchange-Traded Index Options Written | ||||||||||
| Description | Type of Contract | Expiration Date | Number of Contracts | Exercise Price | Notional Value* | Value | ||||
| Equity Risk | ||||||||||
| MSCI EAFE Index | Call | 02/17/2023 | 39 | USD | 2,060.00 | USD | 8,034,000 | $(269,490) | ||
| MSCI Emerging Markets Index | Call | 02/17/2023 | 36 | USD | 1,025.00 | USD | 3,690,000 | (101,340) | ||
| Total Index Options Written | $(370,830) | |||||||||
| * | Notional Value is calculated by multiplying the Number of Contracts by the Exercise Price by the multiplier. |
| Open Futures Contracts(a) | |||||
| Long Futures Contracts | Number of Contracts | Expiration Month | Notional Value | Value | Unrealized Appreciation (Depreciation) |
| Currency Risk | |||||
| Canadian Dollar | 25 | March-2023 | $1,879,375 | $50,580 | $50,580 |
| Equity Risk | |||||
| S&P/TSX 60 Index | 11 | March-2023 | 2,073,263 | 74,082 | 74,082 |
| Subtotal—Long Futures Contracts | 124,662 | 124,662 | |||
| Short Futures Contracts | |||||
| Equity Risk | |||||
| MSCI EAFE Index | 79 | March-2023 | (8,370,050) | (555,369) | (555,369) |
| MSCI Emerging Markets Index | 71 | March-2023 | (3,708,330) | (225,568) | (225,568) |
| Subtotal—Short Futures Contracts | (780,937) | (780,937) | |||
| Total Futures Contracts | $(656,275) | $(656,275) | |||
| (a) | Futures contracts collateralized by $1,702,562 cash held with Merrill Lynch International, the futures commission merchant. |
| Open Over-The-Counter Total Return Swap Agreements(a) | |||||||||||
| Counterparty | Pay/ Receive | Reference Entity | Floating Rate Index | Payment Frequency | Number of Contracts | Maturity Date | Notional Value | Upfront Payments Paid (Received) | Value | Unrealized Appreciation (Depreciation) | |
| Equity Risk | |||||||||||
| BNP Paribas S.A. | Receive | MSCI EAFE Minimum Volatility Daily Net Total Return Index | SOFR + 0.340% | Monthly | 936 | February—2023 | USD | 1,850,509 | $— | $1,039 | $1,039 |
| BNP Paribas S.A. | Receive | MSCI EAFE Minimum Volatility Daily Net Total Return Index | SOFR + 0.480% | Monthly | 1,089 | February—2023 | USD | 2,152,996 | — | 1,209 | 1,209 |
| Subtotal — Appreciation | — | 2,248 | 2,248 | ||||||||
| Equity Risk | |||||||||||
| Bank of America, N.A. | Receive | MSCI Emerging Markets Minimum Volatility Index | SOFR + 0.590% | Monthly | 1,057 | July—2023 | USD | 1,964,466 | — | (2,051) | (2,051) |
| Total — Total Return Swap Agreements | $— | $197 | $197 | ||||||||
| (a) | The Fund receives or pays payments based on any positive or negative return on the Reference Entity, respectively. |
| Abbreviations: | |
| SOFR | —Secured Overnight Financing Rate |
| USD | —U.S. Dollar |
| Level 1 | Level 2 | Level 3 | Total | |
| Investments in Securities | ||||
| Australia | $13,495 | $1,028,659 | $— | $1,042,154 |
| Austria | — | 20,662 | — | 20,662 |
| Belgium | — | 72,666 | — | 72,666 |
| Brazil | 709,003 | — | — | 709,003 |
| Chile | 85,819 | — | — | 85,819 |
| China | 278,247 | 2,218,683 | — | 2,496,930 |
| Colombia | 10,300 | — | — | 10,300 |
| Denmark | — | 661,468 | — | 661,468 |
| Finland | — | 155,047 | — | 155,047 |
| France | — | 1,443,933 | — | 1,443,933 |
| Germany | — | 894,832 | — | 894,832 |
| Greece | — | 5,481 | — | 5,481 |
| Hong Kong | — | 279,840 | — | 279,840 |
| Hungary | — | 45,470 | — | 45,470 |
| Indonesia | — | 191,911 | — | 191,911 |
| Ireland | — | 32,072 | — | 32,072 |
| Italy | — | 216,611 | — | 216,611 |
| Japan | — | 2,820,772 | — | 2,820,772 |
| Luxembourg | — | 64,065 | — | 64,065 |
| Malaysia | — | 87,722 | — | 87,722 |
| Mexico | 131,890 | — | — | 131,890 |
| Multinational | — | — | 145,390 | 145,390 |
| Netherlands | — | 863,065 | — | 863,065 |
| Peru | 4,432 | — | — | 4,432 |
| Philippines | — | 23,587 | — | 23,587 |
| Poland | — | 10,290 | — | 10,290 |
| Russia | — | — | — | — |
| Singapore | — | 90,559 | — | 90,559 |
| South Africa | — | 482,400 | — | 482,400 |
| South Korea | — | 697,771 | — | 697,771 |
| Spain | — | 501,242 | — | 501,242 |
| Sweden | — | 244,964 | — | 244,964 |
| Switzerland | — | 756,855 | — | 756,855 |
| Taiwan | 223,971 | 581,888 | — | 805,859 |
| Turkey | — | 17,014 | — | 17,014 |
| United Kingdom | 17,709 | 1,542,841 | — | 1,560,550 |
| United States | 38,909 | 2,535,059 | — | 2,573,968 |
| Vietnam | — | 7 | — | 7 |
| Money Market Funds | 3,748,007 | — | — | 3,748,007 |
| Total Investments in Securities | 5,261,782 | 18,587,436 | 145,390 | 23,994,608 |
| Level 1 | Level 2 | Level 3 | Total | |
| Other Investments - Assets* | ||||
| Futures Contracts | $124,662 | $— | $— | $124,662 |
| Swap Agreements | — | 2,248 | — | 2,248 |
| 124,662 | 2,248 | — | 126,910 | |
| Other Investments - Liabilities* | ||||
| Futures Contracts | (780,937) | — | — | (780,937) |
| Options Written | (370,830) | — | — | (370,830) |
| Swap Agreements | — | (2,051) | — | (2,051) |
| (1,151,767) | (2,051) | — | (1,153,818) | |
| Total Other Investments | (1,027,105) | 197 | — | (1,026,908) |
| Total Investments | $4,234,677 | $18,587,633 | $145,390 | $22,967,700 |
| * | Futures contracts and swap agreements are valued at unrealized appreciation (depreciation). Options written are shown at value. |