NPORT-EX 2 edgar.htm
Schedule of Investments
January 31, 2023
(Unaudited)
  Shares Value
Common Stocks & Other Equity Interests–71.88%
Australia–4.18%
AngloGold Ashanti Ltd.       182      $3,820
ANZ Group Holdings Ltd.       762     13,495
BHP Group Ltd.     5,882    206,191
Coles Group Ltd.     1,206     15,164
Commonwealth Bank of Australia       514     40,139
CSL Ltd.       282     59,524
Fortescue Metals Group Ltd.       911     14,451
Glencore PLC    15,173    101,872
National Australia Bank Ltd.       646     14,561
Newcrest Mining Ltd.       481      7,705
Rio Tinto Ltd.     2,485    223,836
Rio Tinto PLC     2,055    160,652
Telstra Group Ltd.    17,812     51,419
Transurban Group     1,988     19,481
Wesfarmers Ltd.       447     15,773
Westpac Banking Corp.       895     15,054
Woodside Energy Group Ltd.     1,640     42,572
Woolworths Group Ltd.     1,425     36,445
      1,042,154
Austria–0.08%
OMV AG       414     20,662
Belgium–0.29%
Anheuser-Busch InBev S.A./N.V.       911     54,839
KBC Group N.V.       149     11,018
UCB S.A.        83      6,809
      72,666
Brazil–2.85%
Ambev S.A.     2,000      5,382
B3 S.A. - Brasil, Bolsa, Balcao    18,200     46,465
Banco Bradesco S.A., Preference Shares     9,800     27,066
Banco BTG Pactual S.A.     2,100      8,944
Banco do Brasil S.A.     7,000     56,124
Banco Santander Brasil S.A.     5,600     31,937
BB Seguridade Participacoes S.A.       800      5,954
CCR S.A.     1,900      4,402
Centrais Eletricas Brasileiras S.A.     3,100     24,824
Cia de Saneamento Basico do Estado de Sao Paulo       500      5,482
Cia Siderurgica Nacional S.A.     1,600      5,831
Gerdau S.A., Preference Shares     1,100      7,094
Itau Unibanco Holding S.A., Preference Shares     7,100     35,428
Itausa S.A., Preference Shares     7,010     11,779
Localiza Rent a Car S.A.       600      6,998
Lojas Renner S.A.     1,100      4,687
Petroleo Brasileiro S.A., Preference Shares    45,400    233,158
Rumo S.A.     1,900      6,879
TIM S.A.     1,500      3,484
Vale S.A.     8,500    158,252
  Shares Value
Brazil–(continued)
WEG S.A.     2,500     $18,833
      709,003
Chile–0.34%
Banco de Chile    57,551      6,289
Banco de Credito e Inversiones S.A.       149      4,492
Banco Santander Chile   115,490      4,855
Cencosud S.A.     4,096      7,357
Cia Sud Americana de Vapores S.A.    81,257      7,053
Falabella S.A.     2,485      5,774
Sociedad Quimica y Minera de Chile S.A., Class B, Preference Shares       514     49,999
      85,819
China–10.02%
Agricultural Bank of China Ltd., H Shares    55,000     19,830
Air China Ltd., H Shares(a)    10,000      8,937
Alibaba Group Holding Ltd.(a)    18,700    258,402
Aluminum Corp. of China Ltd., H Shares    14,000      7,445
Anhui Conch Cement Co. Ltd., H Shares     2,500      9,469
ANTA Sports Products Ltd.     1,200     18,162
Autohome, Inc., ADR     1,011     35,243
Baidu, Inc., A Shares(a)     1,450     24,455
Bank of China Ltd., H Shares   448,000    171,188
Bank of Communications Co. Ltd., H Shares    33,000     20,369
BOC Hong Kong Holdings Ltd.     4,500     15,696
BYD Co. Ltd., H Shares     1,500     47,232
BYD Electronic International Co. Ltd.    17,000     59,046
China CITIC Bank Corp. Ltd., H Shares    77,000     37,186
China Coal Energy Co. Ltd., H Shares    21,000     16,858
China Construction Bank Corp., H Shares   183,000    118,869
China Everbright Bank Co. Ltd., H Shares    13,000      4,153
China Feihe Ltd.(b)    10,000      9,640
China Galaxy Securities Co. Ltd., H Shares     8,000      4,326
China Hongqiao Group Ltd.    20,500     23,851
China Life Insurance Co. Ltd., H Shares    37,000     67,947
China Longyuan Power Group Corp. Ltd., H Shares     4,000      5,499
China Merchants Bank Co. Ltd., H Shares     5,000     32,457
China Minsheng Banking Corp. Ltd., H Shares    18,000      6,730
China Oilfield Services Ltd., H Shares     6,000      7,231
China Overseas Land & Investment Ltd.     6,500     17,596
China Pacific Insurance (Group) Co. Ltd., H Shares     1,800      4,963
China Petroleum & Chemical Corp., H Shares   274,000    148,187
China Resources Gas Group Ltd.     1,100      4,632
China Resources Land Ltd.     4,000     19,180
China Shenhua Energy Co. Ltd., H Shares     6,500     20,185
China Taiping Insurance Holdings Co. Ltd.     4,600      6,381
China Tower Corp. Ltd., H Shares(b)   372,000     42,378
China Vanke Co. Ltd., H Shares     2,300      4,646
CITIC Ltd.     9,000     10,550
COSCO SHIPPING Holdings Co. Ltd., H Shares     6,850      7,104
Country Garden Holdings Co. Ltd.    33,000     12,372
CSPC Pharmaceutical Group Ltd.    62,640     71,846
 
See accompanying notes which are an integral part of this schedule.
Invesco Advantage International Fund
  Shares Value
China–(continued)
ENN Energy Holdings Ltd.       600      $9,029
Geely Automobile Holdings Ltd.     5,000      8,186
Great Wall Motor Co. Ltd., H Shares     4,500      6,379
Haier Smart Home Co. Ltd., H Shares     3,000     11,084
Hengan International Group Co. Ltd.     1,500      7,365
Industrial & Commercial Bank of China Ltd., H Shares   128,000     68,559
JD Health International, Inc.(a)(b)       700      5,849
JD.com, Inc., A Shares     3,416    101,624
Kingsoft Corp. Ltd.     1,800      6,665
Kunlun Energy Co. Ltd.    10,000      7,881
Lenovo Group Ltd.    14,000     11,263
Li Auto, Inc., ADR(a)       696     17,330
Li Ning Co. Ltd.     2,000     19,732
Longfor Group Holdings Ltd.(b)     1,500      4,992
Lufax Holding Ltd., ADR     4,043     12,331
Meituan, B Shares(a)(b)       120      2,673
NetEase, Inc.     3,400     60,152
New China Life Insurance Co. Ltd., H Shares     1,600      4,285
Nongfu Spring Co. Ltd., H Shares(b)     2,000     11,356
NXP Semiconductors N.V.       182     33,544
People’s Insurance Co. Group of China Ltd. (The), H Shares    70,000     23,576
PetroChina Co. Ltd., H Shares    70,000     37,405
PICC Property & Casualty Co. Ltd., H Shares    60,000     56,394
Pinduoduo, Inc., ADR(a)     1,657    162,353
Ping An Insurance (Group) Co. of China Ltd., H Shares     7,000     54,639
Postal Savings Bank of China Co. Ltd., H Shares(b)     9,000      6,118
Prosus N.V.(a)       729     58,961
Shandong Weigao Group Medical Polymer Co. Ltd., H Shares    26,800     44,432
Shenzhou International Group Holdings Ltd.       600      7,518
Sino Biopharmaceutical Ltd.    24,000     14,005
SITC International Holdings Co. Ltd.     2,000      4,356
Sunny Optical Technology Group Co. Ltd.       600      8,134
Tencent Holdings Ltd.     2,500    121,851
Vipshop Holdings Ltd., ADR(a)       315      4,873
Want Want China Holdings Ltd.     6,000      3,913
Weichai Power Co. Ltd., H Shares     3,000      4,544
Yankuang Energy Group Co. Ltd., H Shares    16,000     51,318
Zhongsheng Group Holdings Ltd.       500      2,832
Zijin Mining Group Co. Ltd., H Shares     4,000      6,615
ZTO Express (Cayman), Inc., ADR       441     12,573
      2,496,930
Colombia–0.04%
Bancolombia S.A., Preference Shares     1,355     10,300
Denmark–2.66%
AP Moller - Maersk A/S, Class B        66    143,543
Carlsberg A/S, Class B        74     10,470
Coloplast A/S, Class B        66      7,964
Danske Bank A/S       464      9,652
Genmab A/S(a)        83     32,467
Novo Nordisk A/S, Class B     3,264    452,010
Novozymes A/S, Class B       103      5,362
      661,468
  Shares Value
Finland–0.62%
Fortum OYJ       265      $3,993
Kone OYJ, Class B       133      7,262
Neste OYJ       447     21,316
Nokia OYJ     3,596     17,137
Nordea Bank Abp     4,441     51,789
Sampo OYJ, Class A       597     31,319
UPM-Kymmene OYJ       613     22,231
      155,047
France–5.80%
AXA S.A.     2,701     84,200
BNP Paribas S.A.     1,955    134,006
Bouygues S.A.       279      9,184
Bureau Veritas S.A.       298      8,516
Carrefour S.A.       729     13,852
Cie de Saint-Gobain       618     35,391
Cie Generale des Etablissements Michelin S.C.A.       746     23,675
Credit Agricole S.A.     1,475     17,741
Danone S.A.       762     41,701
ENGIE S.A.     2,220     31,582
EssilorLuxottica S.A.       365     66,789
Hermes International        33     61,845
Kering S.A.        99     61,805
Legrand S.A.        99      8,849
L’Oreal S.A.       249    102,858
LVMH Moet Hennessy Louis Vuitton SE       265    231,500
Orange S.A.     2,651     28,052
Safran S.A.       348     49,972
Sanofi       878     86,278
Sartorius Stedim Biotech        15      5,240
Societe Generale S.A.     1,955     58,114
Thales S.A.       187     24,706
TotalEnergies SE     3,016    187,376
Vinci S.A.       464     52,346
Vivendi SE     1,707     18,355
      1,443,933
Germany–3.59%
adidas AG       166     26,607
Allianz SE       249     59,402
BASF SE       828     47,187
Bayer AG       481     29,835
Bayerische Motoren Werke AG       580     58,754
Beiersdorf AG        99     12,012
Continental AG        59      4,133
Daimler Truck Holding AG(a)       353     11,827
Deutsche Bank AG     1,558     20,696
Deutsche Boerse AG       133     23,766
Deutsche Post AG     1,059     45,361
Deutsche Telekom AG     5,335    118,692
E.ON SE     1,544     16,776
Evonik Industries AG       677     14,988
Fresenius Medical Care AG & Co. KGaA       331     12,392
Fresenius SE & Co. KGaA       845     24,362
Hannover Rueck SE        50     10,128
Henkel AG & Co. KGaA, Preference Shares       235     16,709
Infineon Technologies AG       530     18,958
Mercedes-Benz Group AG       878     65,096
See accompanying notes which are an integral part of this schedule.
Invesco Advantage International Fund
  Shares Value
Germany–(continued)
Merck KGaA        99     $20,584
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Class R       166     59,787
RWE AG       315     13,981
Sartorius AG, Preference Shares        29     12,951
Siemens AG       315     48,940
Siemens Energy AG       447      9,309
Volkswagen AG, Preference Shares       663     91,599
      894,832
Greece–0.02%
Hellenic Telecommunications Organization S.A.       348      5,481
Hong Kong–1.12%
CK Asset Holdings Ltd.     5,000     31,946
CK Hutchison Holdings Ltd.    13,500     86,182
CK Infrastructure Holdings Ltd.     2,000     11,161
CLP Holdings Ltd.     2,000     14,882
Henderson Land Development Co. Ltd.     1,000      3,692
Hong Kong & China Gas Co. Ltd. (The)    15,292     15,387
Jardine Matheson Holdings Ltd.       800     42,459
Power Assets Holdings Ltd.     1,000      5,664
Prudential PLC     1,640     27,177
Sun Hung Kai Properties Ltd.     2,500     35,552
Wharf Real Estate Investment Co. Ltd.     1,000      5,738
      279,840
Hungary–0.18%
OTP Bank Nyrt     1,508     45,470
Indonesia–0.77%
PT Adaro Energy Indonesia Tbk    64,800     12,816
PT Astra International Tbk    64,700     25,975
PT Bank Central Asia Tbk    66,000     37,405
PT Bank Mandiri (Persero) Tbk    46,200     30,726
PT Bank Negara Indonesia (Persero) Tbk    14,800      9,058
PT Bank Rakyat Indonesia (Persero) Tbk    33,800     10,350
PT Kalbe Farma Tbk    34,200      4,706
PT Telkom Indonesia (Persero) Tbk   203,400     52,636
PT Unilever Indonesia Tbk    15,400      4,790
PT United Tractors Tbk     2,100      3,449
      191,911
Ireland–0.13%
CRH PLC       412     19,167
Flutter Entertainment PLC(a)        83     12,905
      32,072
Italy–0.87%
Assicurazioni Generali S.p.A.     1,375     26,801
Enel S.p.A.     5,037     29,648
Eni S.p.A.     2,817     43,446
Ferrari N.V.       166     41,395
Poste Italiane S.p.A.(b)       735      7,834
UniCredit S.p.A.     3,463     67,487
      216,611
Japan–11.32%
Aeon Co. Ltd.       300      6,149
Asahi Group Holdings Ltd.       300      9,917
  Shares Value
Japan–(continued)
Astellas Pharma, Inc.     3,000     $44,279
Bridgestone Corp.     1,200     44,904
Canon, Inc.     2,100     46,634
Central Japan Railway Co.       100     12,156
Chugai Pharmaceutical Co. Ltd.       800     20,752
Dai-ichi Life Holdings, Inc.       700     16,431
Daiichi Sankyo Co. Ltd.     3,500    109,997
Daikin Industries Ltd.       100     17,412
Daiwa House Industry Co. Ltd.       400      9,610
Denso Corp.       300     16,209
East Japan Railway Co.       200     11,089
Eisai Co. Ltd.       500     31,018
FANUC Corp.       100     17,700
Fast Retailing Co. Ltd.       100     60,683
FUJIFILM Holdings Corp.       500     26,545
Fujitsu Ltd.       200     28,642
Hitachi Ltd.     1,100     57,759
Honda Motor Co. Ltd.     3,400     84,333
Hoya Corp.       300     33,035
ITOCHU Corp.     1,900     61,424
Japan Post Holdings Co. Ltd.     9,100     79,772
Japan Tobacco, Inc.     1,800     36,648
Kao Corp.       500     20,387
KDDI Corp.     1,600     49,991
Keyence Corp.       100     46,193
Kirin Holdings Co. Ltd.     1,200     18,482
Komatsu Ltd.       900     22,058
Kubota Corp.       400      6,003
Kyocera Corp.       500     25,997
M3, Inc.       200      5,471
Mitsubishi Corp.     2,900     97,089
Mitsubishi Electric Corp.     2,400     26,426
Mitsubishi Estate Co. Ltd.     2,000     25,795
Mitsubishi UFJ Financial Group, Inc.    16,700    122,577
Mitsui & Co. Ltd.     3,300     97,511
Mitsui Fudosan Co. Ltd.     1,000     18,768
Mizuho Financial Group, Inc.     4,170     65,052
MS&AD Insurance Group Holdings, Inc.       200      6,430
Murata Manufacturing Co. Ltd.       300     17,236
Nexon Co. Ltd.       200      4,835
Nintendo Co. Ltd.     1,900     82,171
Nippon Telegraph & Telephone Corp.     3,900    116,783
Nissan Motor Co. Ltd.     4,600     16,495
Nomura Holdings, Inc.     2,700     10,768
NTT Data Corp.       300      4,658
Olympus Corp.     2,400     45,089
Oriental Land Co. Ltd.       100     16,641
ORIX Corp.     4,300     75,528
Otsuka Holdings Co. Ltd.       500     16,041
Panasonic Holdings Corp.     2,700     25,040
Recruit Holdings Co. Ltd.     3,200    102,718
Renesas Electronics Corp.(a)       700      7,216
Secom Co. Ltd.       300     17,869
Sekisui House Ltd.       500      9,443
Seven & i Holdings Co. Ltd.       600     28,366
Shimano, Inc.       100     17,949
Shin-Etsu Chemical Co. Ltd.       100     14,895
Shionogi & Co. Ltd.       100      4,775
See accompanying notes which are an integral part of this schedule.
Invesco Advantage International Fund
  Shares Value
Japan–(continued)
SoftBank Corp.     2,300     $26,313
SoftBank Group Corp.     1,400     66,729
Sompo Holdings, Inc.       600     25,908
Sony Group Corp.       600     53,562
Subaru Corp.       500      8,260
Sumitomo Corp.     2,200     39,492
Sumitomo Mitsui Financial Group, Inc.     1,500     65,271
Suzuki Motor Corp.       100      3,766
Takeda Pharmaceutical Co. Ltd.     3,238    101,972
Terumo Corp.       400     11,615
Tokio Marine Holdings, Inc.     1,700     35,583
Tokyo Electron Ltd.       100     35,092
Toshiba Corp.       800     27,495
Toyota Industries Corp.       200     12,171
Toyota Motor Corp.     8,300    120,422
Unicharm Corp.       400     15,277
      2,820,772
Luxembourg–0.26%
ArcelorMittal S.A.     2,072     64,065
Malaysia–0.35%
Axiata Group Bhd.     6,400      4,561
CIMB Group Holdings Bhd.     4,700      6,351
Genting Bhd.     4,200      4,888
IHH Healthcare Bhd.     7,100      9,868
IOI Corp. Bhd.     4,800      4,310
Malayan Banking Bhd.     5,200     10,663
MISC Bhd.     2,400      4,120
Petronas Chemicals Group Bhd.     3,900      7,655
Public Bank Bhd.    17,700     17,619
RHB Bank Bhd.     4,100      5,530
Tenaga Nasional Bhd.     5,500     12,157
      87,722
Mexico–0.53%
Arca Continental S.A.B. de C.V.       400      3,533
Cemex S.A.B. de C.V., Series CPO(a)    12,200      6,505
Fomento Economico Mexicano S.A.B. de C.V., Series CPO     1,700     14,891
Grupo Bimbo S.A.B. de C.V., Series A     3,700     18,474
Grupo Financiero Banorte S.A.B. de C.V., Class O     2,600     21,566
Grupo Financiero Inbursa S.A.B. de C.V., Class O(a)     2,600      5,592
Grupo Mexico S.A.B. de C.V., Class B     1,600      7,115
Grupo Televisa S.A.B., Series CPO     4,700      5,748
Wal-Mart de Mexico S.A.B. de C.V., Series V    12,373     48,466
      131,890
Netherlands–3.46%
ASML Holding N.V.       315    208,613
Heineken Holding N.V.       133     10,957
Heineken N.V.       133     13,254
ING Groep N.V.     6,396     92,316
Koninklijke Ahold Delhaize N.V.     2,270     67,649
Koninklijke DSM N.V.       103     13,244
Koninklijke KPN N.V.     2,121      7,246
Koninklijke Philips N.V.     2,668     46,222
Shell PLC    11,599    340,689
  Shares Value
Netherlands–(continued)
Universal Music Group N.V.       481     $12,305
Wolters Kluwer N.V.       464     50,570
      863,065
Peru–0.02%
Credicorp Ltd.        33      4,432
Philippines–0.10%
Ayala Corp.       780     10,185
SM Prime Holdings, Inc.    19,800     13,402
      23,587
Poland–0.04%
Bank Polska Kasa Opieki S.A.       481     10,290
Russia–0.00%
PhosAgro PJSC, GDR(c)         1          0
Sberbank of Russia PJSC(c)     9,800          0
Tatneft PJSC(c)     1,980          0
VTB Bank PJSC(a)(c) 9,716,000          0
      0
Singapore–0.36%
DBS Group Holdings Ltd.     1,100     30,113
Oversea-Chinese Banking Corp. Ltd.     2,600     25,659
Singapore Telecommunications Ltd.    10,900     20,890
STMicroelectronics N.V.       294     13,897
      90,559
South Africa–1.94%
Absa Group Ltd.     1,955     22,428
Anglo American PLC     2,071     89,270
Bid Corp. Ltd.       547     11,306
Capitec Bank Holdings Ltd.        83      8,575
Discovery Ltd.(a)     1,292     10,229
FirstRand Ltd.    12,311     45,694
Gold Fields Ltd.       663      7,584
Impala Platinum Holdings Ltd.       679      7,878
MTN Group Ltd.       944      7,985
Naspers Ltd., Class N       696    134,464
Nedbank Group Ltd.     1,160     15,046
Remgro Ltd.     1,657     13,336
Sanlam Ltd.     3,088      9,994
Sasol Ltd.     1,077     19,543
Shoprite Holdings Ltd.     1,723     23,851
Sibanye Stillwater Ltd.     5,899     15,640
Standard Bank Group Ltd.     3,977     39,577
      482,400
South Korea–2.80%
Celltrion, Inc.        83     10,973
Hyundai Mobis Co. Ltd.        83     13,927
Hyundai Motor Co.        83     11,346
KB Financial Group, Inc.       563     25,652
Kia Corp.       613     33,482
LG Chem Ltd.        33     18,654
LG Energy Solution Ltd.(a)        33     14,050
NAVER Corp.       149     24,827
POSCO Holdings, Inc.        33      8,113
Samsung Biologics Co. Ltd.(a)(b)        17     10,999
See accompanying notes which are an integral part of this schedule.
Invesco Advantage International Fund
  Shares Value
South Korea–(continued)
Samsung C&T Corp.        50      $4,840
Samsung Electronics Co. Ltd.     4,109    205,384
Samsung SDI Co. Ltd.       166     93,133
Shinhan Financial Group Co. Ltd.     1,011     34,253
SK hynix, Inc.     2,585    188,138
      697,771
Spain–2.01%
Aena SME S.A.(a)(b)        33      4,950
Banco Bilbao Vizcaya Argentaria S.A.    11,068     77,898
Banco Santander S.A.    23,396     81,635
CaixaBank S.A.     9,279     41,096
Endesa S.A.       191      3,810
Ferrovial S.A.       221      6,520
Grifols S.A.(a)       331      4,381
Iberdrola S.A.    11,632    136,024
Industria de Diseno Textil S.A.     1,408     43,969
Repsol S.A.     3,314     54,403
Telefonica S.A.    12,245     46,556
      501,242
Sweden–0.98%
Atlas Copco AB, Class A     1,558     18,427
Epiroc AB, Class A       398      7,742
H & M Hennes & Mauritz AB, Class B       883     10,852
Investor AB, Class B     2,071     40,234
Skandinaviska Enskilda Banken AB, Class A     2,320     28,054
Svenska Handelsbanken AB, Class A     2,088     21,728
Swedbank AB, Class A     1,524     29,228
Telefonaktiebolaget LM Ericsson, Class B     4,678     27,120
Telia Co. AB     2,353      6,083
Volvo AB, Class B     2,800     55,496
      244,964
Switzerland–3.04%
ABB Ltd.     1,922     66,928
Chocoladefabriken Lindt & Spruengli AG, PC         3     32,969
Geberit AG        16      9,147
Kuehne + Nagel International AG, Class R        33      7,864
Novartis AG     3,794    343,132
Partners Group Holding AG        17     15,977
Schindler Holding AG, PC        50     10,651
SGS S.A.         3      7,313
Swatch Group AG (The), BR        50     18,062
Swisscom AG        31     18,319
UBS Group AG     6,015    128,073
Zurich Insurance Group AG       199     98,420
      756,855
Taiwan–3.23%
ASE Technology Holding Co. Ltd., ADR     1,972     14,198
Asustek Computer, Inc.     2,000     18,246
Catcher Technology Co. Ltd.     5,000     29,760
Cathay Financial Holding Co. Ltd.     7,000      9,981
Chailease Holding Co. Ltd.     1,155      8,739
Chang Hwa Commercial Bank Ltd.     7,000      4,117
Cheng Shin Rubber Industry Co. Ltd.     5,000      5,779
China Development Financial Holding Corp.    11,000      4,867
China Steel Corp.    18,000     19,056
  Shares Value
Taiwan–(continued)
Chunghwa Telecom Co. Ltd., ADR       199      $7,373
CTBC Financial Holding Co. Ltd.    11,000      8,413
Delta Electronics, Inc.     3,000     29,088
E Ink Holdings, Inc.     7,000     40,691
Evergreen Marine Corp. Taiwan Ltd.     1,800      9,223
Far Eastern New Century Corp.     8,000      8,750
Far EasTone Telecommunications Co. Ltd.     7,000     15,590
First Financial Holding Co. Ltd.    16,120     14,071
Formosa Chemicals & Fibre Corp.     5,000     12,060
Formosa Plastics Corp.     3,000      8,953
Hon Hai Precision Industry Co. Ltd.    46,000    153,446
Hua Nan Financial Holdings Co. Ltd.     6,000      4,565
Mega Financial Holding Co. Ltd.     7,125      7,613
Nan Ya Plastics Corp.     7,000     17,667
Nanya Technology Corp.     2,000      3,887
Novatek Microelectronics Corp.     2,000     23,902
Pegatron Corp.     3,000      6,481
Powerchip Semiconductor Manufacturing Corp.     4,000      4,623
President Chain Store Corp.     1,000      9,013
Quanta Computer, Inc.     2,000      5,001
Realtek Semiconductor Corp.     1,000     10,777
Shanghai Commercial & Savings Bank Ltd. (The)     3,000      4,661
Taiwan Cooperative Financial Holding Co. Ltd.    15,150     13,398
Taiwan Mobile Co. Ltd.     4,000     12,628
Taiwan Semiconductor Manufacturing Co. Ltd., ADR     1,972    182,864
Unimicron Technology Corp.     2,000      9,247
Uni-President Enterprises Corp.     7,000     15,746
United Microelectronics Corp., ADR     2,403     19,536
Wan Hai Lines Ltd.     2,645      6,752
Yang Ming Marine Transport Corp.     7,000     14,717
Yuanta Financial Holding Co. Ltd.    13,798     10,380
      805,859
Turkey–0.07%
Eregli Demir ve Celik Fabrikalari T.A.S.     6,147     12,499
Ford Otomotiv Sanayi A.S.       166      4,515
      17,014
United Kingdom–6.26%
Ashtead Group PLC       199     13,101
AstraZeneca PLC       812    106,241
Aviva PLC     5,733     32,262
BAE Systems PLC     7,456     78,799
Barclays PLC    29,147     66,845
BP PLC    34,150    206,616
British American Tobacco PLC     3,463    132,439
BT Group PLC     8,732     13,467
Coca-Cola Europacific Partners PLC       315     17,709
Compass Group PLC     1,226     29,230
Diageo PLC     3,297    143,247
HSBC Holdings PLC     9,030     66,572
Imperial Brands PLC     2,220     55,655
Lloyds Banking Group PLC    61,589     40,162
London Stock Exchange Group PLC       182     16,674
National Grid PLC     4,209     53,538
NatWest Group PLC    11,731     44,633
See accompanying notes which are an integral part of this schedule.
Invesco Advantage International Fund
  Shares Value
United Kingdom–(continued)
Reckitt Benckiser Group PLC       878     $62,524
RELX PLC     1,889     56,144
Smith & Nephew PLC       481      6,622
SSE PLC       663     14,153
Standard Chartered PLC     4,855     40,662
Tesco PLC    18,956     57,582
Unilever PLC     3,181    162,513
Vodafone Group PLC    37,464     43,160
      1,560,550
United States–1.55%
Atlassian Corp., Class A(a)       182     29,415
Ferguson PLC        99     13,929
GSK PLC     2,618     45,718
Holcim AG(a)       547     32,608
JBS S.A.     2,400      9,494
Roche Holding AG       597    186,582
Stellantis N.V.     3,562     55,817
Swiss Re AG       116     12,133
      385,696
Vietnam–0.00%
Vietnam Dairy Products JSC         2          7
Total Common Stocks & Other Equity Interests (Cost $15,007,536) 17,912,939
  Principal
Amount 		 
U.S. Treasury Securities–8.78%
U.S. Treasury Bills–8.78%
4.48%, 05/11/2023(d)   $1,096,180  1,096,119
4.64%, 06/08/2023(d)   1,092,461  1,092,153
Total U.S. Treasury Securities (Cost $2,188,641) 2,188,272
Event-Linked Bonds–0.37%
Multinational–0.37%
Alturas RE Segregated Account, Catastrophe Linked Notes, 0.00%, 03/10/2023(b)(c)(e)       1,000          0
  Principal
Amount 		Value
Multinational–(continued)
Eden RE II Ltd., Class A, Catastrophe Linked Notes, 0.00%, 03/22/2023(b)(c)(e)         $720      $7,991
Limestone Re Ltd., Class A, Catastrophe Linked Notes, 0.00%, 12/31/2024(b)(c)(e)       1,175      1,458
Sector Re V Ltd., Series 2019-1, Class A, Catastrophe Linked Notes, 0.00%, 03/01/2024(b)(c)(e)     120,000     81,393
Total Event-Linked Bonds (Cost $122,895) 90,842
  Shares  
Preferred Stocks–0.22%
Multinational–0.22%
Harambee Re Ltd., Pfd.(c)        15      1,406
Mt. Logan Re Ltd., Pfd.(c)       116     48,608
Thopas Re Ltd., Pfd.(c)         5          5
Turing Re Ltd., Series 2019-1, Pfd.(b)(c)       885      2,395
Viribus Re Ltd., Pfd.(c)    33,312      2,134
Total Preferred Stocks (Cost $239,061) 54,548
Money Market Funds–15.04%
Invesco Government & Agency Portfolio, Institutional Class, 4.30%(f)(g) 1,311,713  1,311,713
Invesco Liquid Assets Portfolio, Institutional Class, 4.48%(f)(g)   936,912    937,193
Invesco Treasury Portfolio, Institutional Class, 4.30%(f)(g) 1,499,101  1,499,101
Total Money Market Funds (Cost $3,747,826) 3,748,007
TOTAL INVESTMENTS IN SECURITIES—96.29% (Cost $21,305,959) 23,994,608
OTHER ASSETS LESS LIABILITIES–3.71% 924,435
NET ASSETS–100.00% $24,919,043
Investment Abbreviations:
ADR – American Depositary Receipt
BR – Bearer Shares
CPO – Certificates of Ordinary Participation
GDR – Global Depositary Receipt
PC – Participation Certificate
Pfd. – Preferred
See accompanying notes which are an integral part of this schedule.
Invesco Advantage International Fund
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 $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.
    
See accompanying notes which are an integral part of this schedule.
Invesco Advantage International Fund
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
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 Advantage International 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 $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
Invesco Advantage International Fund
  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.
Invesco Advantage International Fund