Schedule of Investments(a)
November 30, 2023
(Unaudited)
Shares | Value | |||||||
| ||||||||
Common Stocks & Other Equity Interests–98.08% |
| |||||||
Aerospace & Defense–2.49% | ||||||||
RTX Corp.(b) | 699,339 | $ | 56,982,142 | |||||
| ||||||||
Textron, Inc. | 510,366 | 39,124,657 | ||||||
| ||||||||
96,106,799 | ||||||||
| ||||||||
Air Freight & Logistics–1.26% | ||||||||
FedEx Corp. | 188,450 | 48,776,513 | ||||||
| ||||||||
Apparel Retail–0.81% | ||||||||
TJX Cos., Inc. (The) | 355,398 | 31,314,118 | ||||||
| ||||||||
Application Software–1.18% | ||||||||
Salesforce, Inc.(c) | 180,451 | 45,455,607 | ||||||
| ||||||||
Asset Management & Custody Banks–1.73% |
| |||||||
KKR & Co., Inc., Class A | 877,608 | 66,557,791 | ||||||
| ||||||||
Automobile Manufacturers–1.01% |
| |||||||
General Motors Co. | 1,230,609 | 38,887,244 | ||||||
| ||||||||
Broadline Retail–2.07% | ||||||||
Amazon.com, Inc.(c) | 546,144 | 79,786,177 | ||||||
| ||||||||
Building Products–1.78% | ||||||||
Johnson Controls International PLC | 1,300,931 | 68,689,157 | ||||||
| ||||||||
Cable & Satellite–2.14% | ||||||||
Charter Communications, Inc., Class A(c) | 118,153 | 47,276,560 | ||||||
| ||||||||
Comcast Corp., Class A | 844,196 | 35,363,370 | ||||||
| ||||||||
82,639,930 | ||||||||
| ||||||||
Cargo Ground Transportation–0.81% |
| |||||||
J.B. Hunt Transport Services, Inc.(b) | 169,587 | 31,419,383 | ||||||
| ||||||||
Casinos & Gaming–0.96% | ||||||||
Las Vegas Sands Corp. | 806,790 | 37,209,155 | ||||||
| ||||||||
Communications Equipment–1.68% |
| |||||||
Cisco Systems, Inc. | 1,343,543 | �� | 65,000,610 | |||||
| ||||||||
Consumer Finance–0.98% | ||||||||
American Express Co. | 221,884 | 37,891,131 | ||||||
| ||||||||
Distributors–0.94% | ||||||||
Genuine Parts Co. | 272,886 | 36,233,803 | ||||||
| ||||||||
Diversified Banks–8.35% | ||||||||
Bank of America Corp. | 3,811,542 | 116,213,916 | ||||||
| ||||||||
PNC Financial Services Group, Inc. (The) | 430,225 | 57,632,941 | ||||||
| ||||||||
Wells Fargo & Co. | 3,321,212 | 148,092,843 | ||||||
| ||||||||
321,939,700 | ||||||||
| ||||||||
Electric Utilities–2.89% | ||||||||
American Electric Power Co., Inc. | 506,095 | 40,259,857 | ||||||
| ||||||||
Exelon Corp. | 945,349 | 36,405,390 | ||||||
| ||||||||
FirstEnergy Corp. | 941,995 | 34,797,296 | ||||||
| ||||||||
111,462,543 | ||||||||
|
Shares | Value | |||||||
| ||||||||
Electrical Components & Equipment–0.91% |
| |||||||
Emerson Electric Co. | 394,844 | $ | 35,101,632 | |||||
| ||||||||
Electronic Manufacturing Services–0.99% |
| |||||||
TE Connectivity Ltd. | 291,732 | 38,216,892 | ||||||
| ||||||||
Fertilizers & Agricultural Chemicals–0.63% |
| |||||||
Corteva, Inc. | 541,164 | 24,460,613 | ||||||
| ||||||||
Food Distributors–2.25% | ||||||||
Sysco Corp. | 707,269 | 51,043,604 | ||||||
| ||||||||
US Foods Holding Corp.(c) | 816,986 | 35,808,496 | ||||||
| ||||||||
86,852,100 | ||||||||
| ||||||||
Gold–0.81% | ||||||||
Barrick Gold Corp. (Canada) | 1,776,485 | 31,248,371 | ||||||
| ||||||||
Health Care Equipment–2.52% | ||||||||
GE HealthCare Technologies, Inc. | 443,315 | 30,349,345 | ||||||
| ||||||||
Medtronic PLC | 842,795 | 66,808,360 | ||||||
| ||||||||
97,157,705 | ||||||||
| ||||||||
Health Care Facilities–0.69% | ||||||||
Universal Health Services, Inc., Class B | 192,501 | 26,465,037 | ||||||
| ||||||||
Health Care Services–2.71% | ||||||||
Cigna Group (The) | 208,346 | 54,769,996 | ||||||
| ||||||||
CVS Health Corp. | 733,485 | 49,840,306 | ||||||
| ||||||||
104,610,302 | ||||||||
| ||||||||
Industrial Machinery & Supplies & Components–2.67% |
| |||||||
Parker-Hannifin Corp. | 161,299 | 69,871,501 | ||||||
| ||||||||
Stanley Black & Decker, Inc. | 362,495 | 32,950,795 | ||||||
| ||||||||
102,822,296 | ||||||||
| ||||||||
Insurance Brokers–1.77% | ||||||||
Willis Towers Watson PLC | 277,381 | 68,318,940 | ||||||
| ||||||||
Integrated Oil & Gas–4.66% | ||||||||
Chevron Corp. | 177,736 | 25,522,889 | ||||||
| ||||||||
Exxon Mobil Corp. | 810,635 | 83,284,640 | ||||||
| ||||||||
Shell PLC (Netherlands) | 1,133,843 | 36,748,917 | ||||||
| ||||||||
Suncor Energy, Inc. (Canada)(b) | 1,037,053 | 34,192,676 | ||||||
| ||||||||
179,749,122 | ||||||||
| ||||||||
Interactive Media & Services–3.20% |
| |||||||
Alphabet, Inc., Class A(c) | 669,999 | 88,794,967 | ||||||
| ||||||||
Meta Platforms, Inc., Class A(c) | 106,266 | 34,764,922 | ||||||
| ||||||||
123,559,889 | ||||||||
| ||||||||
Investment Banking & Brokerage–2.87% |
| |||||||
Charles Schwab Corp. (The) | 757,713 | 46,462,961 | ||||||
| ||||||||
Goldman Sachs Group, Inc. (The) | 188,347 | 64,328,035 | ||||||
| ||||||||
110,790,996 | ||||||||
| ||||||||
IT Consulting & Other Services–1.35% |
| |||||||
Cognizant Technology Solutions Corp., Class A | 739,801 | 52,067,194 | ||||||
|
See accompanying notes which are an integral part of this schedule.
Invesco Growth and Income Fund |
Shares | Value | |||||||
| ||||||||
Managed Health Care–2.64% |
| |||||||
Centene Corp.(c) | 954,921 | $ | 70,358,579 | |||||
| ||||||||
Elevance Health, Inc. | 65,714 | 31,509,206 | ||||||
| ||||||||
101,867,785 | ||||||||
| ||||||||
Movies & Entertainment–1.32% |
| |||||||
Walt Disney Co. (The)(c) | 549,778 | 50,958,923 | ||||||
| ||||||||
Multi-line Insurance–2.12% |
| |||||||
American International Group, Inc. | 1,244,375 | 81,892,319 | ||||||
| ||||||||
Oil & Gas Exploration & Production–3.77% |
| |||||||
ConocoPhillips | 880,633 | 101,774,756 | ||||||
| ||||||||
Pioneer Natural Resources Co. | 187,996 | 43,547,393 | ||||||
| ||||||||
145,322,149 | ||||||||
| ||||||||
Oil & Gas Refining & Marketing–1.07% |
| |||||||
Phillips 66 | 318,975 | 41,112,688 | ||||||
| ||||||||
Packaged Foods & Meats–1.12% |
| |||||||
Kraft Heinz Co. (The) | 1,225,788 | 43,037,417 | ||||||
| ||||||||
Pharmaceuticals–7.12% |
| |||||||
Bristol-Myers Squibb Co. | 1,065,946 | 52,636,413 | ||||||
| ||||||||
GSK PLC | 1,770,263 | 31,839,265 | ||||||
| ||||||||
Johnson & Johnson | 490,880 | 75,919,501 | ||||||
| ||||||||
Merck & Co., Inc. | 387,097 | 39,669,701 | ||||||
| ||||||||
Pfizer, Inc. | 860,285 | 26,212,884 | ||||||
| ||||||||
Sanofi S.A. | �� | 518,879 | 48,333,748 | |||||
| ||||||||
274,611,512 | ||||||||
| ||||||||
Property & Casualty Insurance–1.10% |
| |||||||
Allstate Corp. (The) | 306,576 | 42,267,633 | ||||||
| ||||||||
Rail Transportation–1.23% |
| |||||||
CSX Corp. | 1,464,037 | 47,288,395 | ||||||
| ||||||||
Real Estate Services–2.77% |
| |||||||
CBRE Group, Inc., Class A(c) | 1,351,984 | 106,752,657 | ||||||
| ||||||||
Regional Banks–0.71% |
| |||||||
Citizens Financial Group, Inc. | 999,843 | 27,265,719 | ||||||
| ||||||||
Semiconductor Materials & Equipment–1.04% |
| |||||||
Lam Research Corp. | 56,283 | 40,294,125 | ||||||
| ||||||||
Semiconductors–3.69% |
| |||||||
Intel Corp. | 1,492,222 | 66,702,323 | ||||||
| ||||||||
Micron Technology, Inc. | 509,896 | 38,813,284 | ||||||
| ||||||||
NXP Semiconductors N.V. (China) | 180,950 | 36,928,276 | ||||||
| ||||||||
142,443,883 | ||||||||
|
Shares | Value | |||||||
| ||||||||
Specialty Chemicals–1.02% |
| |||||||
DuPont de Nemours, Inc. | 552,231 | $ | 39,506,606 | |||||
| ||||||||
Systems Software–1.32% |
| |||||||
Oracle Corp. | 439,459 | 51,069,530 | ||||||
| ||||||||
Tobacco–1.83% |
| |||||||
Philip Morris International, Inc. | 757,532 | 70,723,187 | ||||||
| ||||||||
Trading Companies & Distributors–1.87% |
| |||||||
Ferguson PLC | 420,541 | 72,055,495 | ||||||
| ||||||||
Transaction & Payment Processing Services–1.67% |
| |||||||
Fiserv, Inc.(c) | 492,583 | 64,336,266 | ||||||
| ||||||||
Wireless Telecommunication Services–1.56% |
| |||||||
T-Mobile US, Inc. | 400,377 | 60,236,720 | ||||||
| ||||||||
Total Common Stocks & Other Equity Interests |
| 3,783,833,759 | ||||||
| ||||||||
Money Market Funds–1.72% |
| |||||||
Invesco Government & Agency Portfolio, Institutional Class, 5.28%(d)(e) | 23,194,855 | 23,194,855 | ||||||
| ||||||||
Invesco Liquid Assets Portfolio, Institutional Class, 5.46%(d)(e) | 16,565,017 | 16,573,300 | ||||||
| ||||||||
Invesco Treasury Portfolio, Institutional Class, 5.28%(d)(e) | 26,508,406 | 26,508,406 | ||||||
| ||||||||
Total Money Market Funds |
| 66,276,561 | ||||||
| ||||||||
TOTAL INVESTMENTS IN SECURITIES | 3,850,110,320 | |||||||
| ||||||||
Investments Purchased with Cash Collateral from Securities on Loan |
| |||||||
Money Market Funds–2.30% |
| |||||||
Invesco Private Government Fund, 5.32%(d)(e)(f) | 24,807,498 | 24,807,497 | ||||||
| ||||||||
Invesco Private Prime Fund, 5.55%(d)(e)(f) | 63,757,243 | 63,782,746 | ||||||
| ||||||||
Total Investments Purchased with Cash Collateral from Securities on Loan |
| 88,590,243 | ||||||
| ||||||||
TOTAL INVESTMENTS IN SECURITIES-102.10% |
| 3,938,700,563 | ||||||
| ||||||||
OTHER ASSETS LESS LIABILITIES–(2.10)% |
| (80,923,945 | ) | |||||
| ||||||||
NET ASSETS-100.00% |
| $ | 3,857,776,618 | |||||
|
See accompanying notes which are an integral part of this schedule.
Invesco Growth and Income Fund |
Notes to Schedule of Investments:
(a) | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s. |
(b) | All or a portion of this security was out on loan at November 30, 2023. |
(c) | Non-income producing security. |
(d) | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2023. |
Value August 31, 2023 | Purchases at Cost | Proceeds from Sales | Change in Unrealized Appreciation | Realized Gain | Value November 30, 2023 | Dividend Income | ||||||||||||||||||||||
Investments in Affiliated Money Market Funds: | ||||||||||||||||||||||||||||
Invesco Government & Agency Portfolio, Institutional Class | $ | 25,782,759 | $ | 57,695,481 | $ | (60,283,385 | ) | $ | - | $ - | $ 23,194,855 | $ 357,299 | ||||||||||||||||
Invesco Liquid Assets Portfolio, Institutional Class | 18,413,442 | 41,211,058 | (43,059,560 | ) | 5,591 | 2,769 | 16,573,300 | 261,826 | ||||||||||||||||||||
Invesco Treasury Portfolio, Institutional Class | 29,466,010 | 65,937,693 | (68,895,297 | ) | - | - | 26,508,406 | 407,602 | ||||||||||||||||||||
Investments Purchased with Cash Collateral from Securities on Loan: | ||||||||||||||||||||||||||||
Invesco Private Government Fund | 1,200,912 | 99,975,659 | (76,369,074 | ) | - | - | 24,807,497 | 89,051* | ||||||||||||||||||||
Invesco Private Prime Fund | 3,088,061 | 205,514,699 | (144,824,569 | ) | 4,128 | 427 | 63,782,746 | 249,291* | ||||||||||||||||||||
Total | $ | 77,951,184 | $ | 470,334,590 | $ | (393,431,885 | ) | $ | 9,719 | $3,196 | $154,866,804 | $1,365,069 |
* | 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. |
(e) | The rate shown is the 7-day SEC standardized yield as of November 30, 2023. |
(f) | The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. |
Open Forward Foreign Currency Contracts | ||||||||||||||||||||
| ||||||||||||||||||||
Unrealized | ||||||||||||||||||||
Settlement | Contract to | Appreciation | ||||||||||||||||||
Date | Counterparty | Deliver | Receive | (Depreciation) | ||||||||||||||||
| ||||||||||||||||||||
Currency Risk | ||||||||||||||||||||
| ||||||||||||||||||||
12/01/2023 | Bank of New York Mellon (The) | USD | 25,172,042 | CAD | 34,176,081 | $ | 13,913 | |||||||||||||
| ||||||||||||||||||||
01/05/2024 | Bank of New York Mellon (The) | EUR | 33,424,888 | USD | 36,768,647 | 331,244 | ||||||||||||||
| ||||||||||||||||||||
01/05/2024 | Bank of New York Mellon (The) | GBP | 40,635,371 | USD | 51,558,971 | 243,037 | ||||||||||||||
| ||||||||||||||||||||
12/01/2023 | State Street Bank & Trust Co. | EUR | 692,977 | USD | 758,432 | 4,127 | ||||||||||||||
| ||||||||||||||||||||
12/01/2023 | State Street Bank & Trust Co. | USD | 5,465,051 | CAD | 7,508,035 | 67,971 | ||||||||||||||
| ||||||||||||||||||||
12/01/2023 | State Street Bank & Trust Co. | USD | 9,642,822 | EUR | 9,050,675 | 208,841 | ||||||||||||||
| ||||||||||||||||||||
12/01/2023 | State Street Bank & Trust Co. | USD | 32,522,660 | GBP | 26,274,914 | 648,089 | ||||||||||||||
| ||||||||||||||||||||
01/05/2024 | State Street Bank & Trust Co. | EUR | 287,977 | USD | 316,770 | 2,838 | ||||||||||||||
| ||||||||||||||||||||
01/05/2024 | State Street Bank & Trust Co. | USD | 746,593 | EUR | 684,920 | 57 | ||||||||||||||
| ||||||||||||||||||||
Subtotal–Appreciation | 1,520,117 | |||||||||||||||||||
| ||||||||||||||||||||
Currency Risk | ||||||||||||||||||||
| ||||||||||||||||||||
12/01/2023 | Bank of New York Mellon (The) | CAD | 35,880,925 | USD | 26,135,324 | (307,010 | ) | |||||||||||||
| ||||||||||||||||||||
12/01/2023 | Bank of New York Mellon (The) | GBP | 66,271,219 | USD | 80,614,365 | (3,049,691 | ) | |||||||||||||
| ||||||||||||||||||||
12/01/2023 | Bank of New York Mellon (The) | USD | 36,707,212 | EUR | 33,424,888 | (324,203 | ) | |||||||||||||
| ||||||||||||||||||||
12/01/2023 | Bank of New York Mellon (The) | USD | 51,541,904 | GBP | 40,635,371 | (241,808 | ) | |||||||||||||
| ||||||||||||||||||||
01/05/2024 | Bank of New York Mellon (The) | CAD | 34,176,081 | USD | 25,187,328 | (13,333 | ) | |||||||||||||
| ||||||||||||||||||||
12/01/2023 | State Street Bank & Trust Co. | CAD | 5,803,191 | USD | 4,224,018 | (52,625 | ) | |||||||||||||
| ||||||||||||||||||||
12/01/2023 | State Street Bank & Trust Co. | EUR | 41,782,586 | USD | 44,306,433 | (1,173,935 | ) | |||||||||||||
| ||||||||||||||||||||
12/01/2023 | State Street Bank & Trust Co. | GBP | 914,413 | USD | 1,131,598 | (22,802 | ) | |||||||||||||
| ||||||||||||||||||||
12/01/2023 | State Street Bank & Trust Co. | USD | 349,278 | GBP | 275,347 | (1,665 | ) | |||||||||||||
|
See accompanying notes which are an integral part of this schedule.
Invesco Growth and Income Fund |
Open Forward Foreign Currency Contracts–(continued) | ||||||||||||||||||||||||
| ||||||||||||||||||||||||
Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
Settlement | Contract to | |||||||||||||||||||||||
|
| |||||||||||||||||||||||
Date | Counterparty | Deliver | Receive | |||||||||||||||||||||
| ||||||||||||||||||||||||
01/05/2024 | State Street Bank & Trust Co. | CAD | 692,234 | USD | 510,264 | $ (174 | ) | |||||||||||||||||
| ||||||||||||||||||||||||
Subtotal–Depreciation | (5,187,246 | ) | ||||||||||||||||||||||
| ||||||||||||||||||||||||
Total Forward Foreign Currency Contracts | $(3,667,129 | ) | ||||||||||||||||||||||
|
Abbreviations: |
CAD - Canadian Dollar |
EUR - Euro |
GBP - British Pound Sterling |
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 Growth and Income Fund |
Notes to Quarterly Schedule of Portfolio Holdings
November 30, 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 November 30, 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 | ||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||
Common Stocks & Other Equity Interests | $3,666,911,829 | $116,921,930 | $– | $3,783,833,759 | ||||||||||||||||||||||||
| ||||||||||||||||||||||||||||
Money Market Funds | 66,276,561 | 88,590,243 | – | 154,866,804 | ||||||||||||||||||||||||
| ||||||||||||||||||||||||||||
Total Investments in Securities | 3,733,188,390 | 205,512,173 | – | 3,938,700,563 | ||||||||||||||||||||||||
| ||||||||||||||||||||||||||||
Other Investments - Assets* | ||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||
Forward Foreign Currency Contracts | – | 1,520,117 | – | 1,520,117 | ||||||||||||||||||||||||
| ||||||||||||||||||||||||||||
Other Investments - Liabilities* | ||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||
Forward Foreign Currency Contracts | – | (5,187,246 | ) | – | (5,187,246 | ) | ||||||||||||||||||||||
| ||||||||||||||||||||||||||||
Total Other Investments | – | (3,667,129 | ) | – | (3,667,129 | ) | ||||||||||||||||||||||
| ||||||||||||||||||||||||||||
Total Investments | $3,733,188,390 | $201,845,044 | $– | $3,935,033,434 | ||||||||||||||||||||||||
|
* | Unrealized appreciation (depreciation). |
Invesco Growth and Income Fund |