Schedule of Investments(a)
May 31, 2024
(Unaudited)
Shares | Value | ||
Common Stocks & Other Equity Interests–64.14% | |||
Aerospace & Defense–1.64% | |||
RTX Corp.(b) | 1,224,450 | $132,007,955 | |
Textron, Inc. | 782,989 | 68,597,666 | |
200,605,621 | |||
Air Freight & Logistics–0.82% | |||
FedEx Corp. | 396,311 | 100,647,141 | |
Apparel Retail–0.47% | |||
TJX Cos., Inc. (The) | 561,009 | 57,840,028 | |
Application Software–0.67% | |||
Salesforce, Inc. | 348,450 | 81,690,618 | |
Asset Management & Custody Banks–1.01% | |||
KKR & Co., Inc., Class A | 1,204,292 | 123,849,389 | |
Automobile Manufacturers–0.85% | |||
General Motors Co. | 2,299,505 | 103,454,730 | |
Broadline Retail–1.31% | |||
Amazon.com, Inc.(c) | 907,012 | 160,033,197 | |
Building Products–1.41% | |||
Johnson Controls International PLC | 2,401,258 | 172,674,463 | |
Cable & Satellite–0.46% | |||
Comcast Corp., Class A | 1,391,353 | 55,695,861 | |
Cargo Ground Transportation–0.57% | |||
J.B. Hunt Transport Services, Inc. | 433,952 | 69,757,784 | |
Casinos & Gaming–0.57% | |||
Las Vegas Sands Corp.(b) | 1,543,109 | 69,486,198 | |
Communications Equipment–0.65% | |||
Cisco Systems, Inc. | 1,717,916 | 79,883,094 | |
Consumer Finance–0.68% | |||
American Express Co. | 345,065 | 82,815,600 | |
Distributors–0.65% | |||
Genuine Parts Co. | 546,762 | 78,810,275 | |
Diversified Banks–5.91% | |||
Bank of America Corp. | 7,137,861 | 285,443,061 | |
PNC Financial Services Group, Inc. (The) | 780,189 | 122,793,947 | |
Wells Fargo & Co. | 5,244,472 | 314,248,762 | |
722,485,770 | |||
Electric Utilities–2.05% | |||
American Electric Power Co., Inc. | 899,050 | 81,139,262 | |
FirstEnergy Corp. | 1,716,259 | 69,096,587 | |
PPL Corp. | 3,404,529 | 99,854,836 | |
250,090,685 | |||
Electrical Components & Equipment–0.68% | |||
Emerson Electric Co. | 740,955 | 83,105,513 |
Shares | Value | ||
Electronic Equipment & Instruments–0.72% | |||
Zebra Technologies Corp., Class A(c) | 281,816 | $88,022,409 | |
Electronic Manufacturing Services–0.64% | |||
TE Connectivity Ltd. | 518,481 | 77,616,606 | |
Fertilizers & Agricultural Chemicals–0.51% | |||
Corteva, Inc. | 1,115,080 | 62,377,575 | |
Food Distributors–1.57% | |||
Sysco Corp. | 1,477,455 | 107,588,273 | |
US Foods Holding Corp.(c) | 1,590,860 | 84,045,134 | |
191,633,407 | |||
Gold–0.46% | |||
Barrick Gold Corp. (Canada) | 3,271,231 | 55,905,338 | |
Health Care Equipment–1.44% | |||
GE HealthCare Technologies, Inc. | 676,606 | 52,775,268 | |
Medtronic PLC | 1,514,064 | 123,199,388 | |
175,974,656 | |||
Health Care Services–1.18% | |||
Cigna Group (The) | 245,778 | 84,700,014 | |
CVS Health Corp. | 991,214 | 59,076,355 | |
143,776,369 | |||
Industrial Machinery & Supplies & Components–1.75% | |||
Parker-Hannifin Corp. | 284,528 | 151,232,322 | |
Stanley Black & Decker, Inc. | 710,475 | 61,932,106 | |
213,164,428 | |||
Insurance Brokers–1.07% | |||
Willis Towers Watson PLC | 513,894 | 131,191,998 | |
Integrated Oil & Gas–4.20% | |||
Chevron Corp. | 822,561 | 133,501,650 | |
Exxon Mobil Corp. | 1,699,484 | 199,281,494 | |
Shell PLC (United Kingdom) | 2,363,613 | 85,314,016 | |
Suncor Energy, Inc. (Canada)(b) | 2,331,874 | 95,126,156 | |
513,223,316 | |||
Interactive Media & Services–2.28% | |||
Alphabet, Inc., Class A(c) | 1,096,572 | 189,158,670 | |
Meta Platforms, Inc., Class A | 191,755 | 89,516,987 | |
278,675,657 | |||
Investment Banking & Brokerage–2.12% | |||
Charles Schwab Corp. (The) | 1,619,820 | 118,700,410 | |
Goldman Sachs Group, Inc. (The) | 308,245 | 140,720,007 | |
259,420,417 | |||
IT Consulting & Other Services–0.68% | |||
Cognizant Technology Solutions Corp., Class A | 1,247,182 | 82,501,089 | |
Managed Health Care–1.83% | |||
Centene Corp.(c) | 1,076,733 | 77,083,315 | |
Elevance Health, Inc. | 125,076 | 67,350,924 |
See accompanying notes which are an integral part of this schedule.
Invesco Equity and Income Fund
Shares | Value | ||
Managed Health Care–(continued) | |||
Humana, Inc. | 220,679 | $79,029,564 | |
223,463,803 | |||
Movies & Entertainment–0.82% | |||
Walt Disney Co. (The) | 963,024 | 100,067,824 | |
Multi-line Insurance–1.24% | |||
American International Group, Inc. | 1,929,184 | 152,058,283 | |
Oil & Gas Exploration & Production–1.45% | |||
ConocoPhillips | 1,525,145 | 177,648,890 | |
Oil & Gas Refining & Marketing–0.51% | |||
Phillips 66 | 435,788 | 61,929,833 | |
Packaged Foods & Meats–0.69% | |||
Kraft Heinz Co. (The) | 2,387,995 | 84,463,383 | |
Pharmaceuticals–4.69% | |||
Bristol-Myers Squibb Co. | 1,941,755 | 79,786,713 | |
GSK PLC | 3,194,995 | 71,689,329 | |
Johnson & Johnson | 1,007,033 | 147,701,530 | |
Merck & Co., Inc. | 729,402 | 91,569,127 | |
Pfizer, Inc. | 2,208,925 | 63,307,790 | |
Sanofi S.A. | 1,213,743 | 118,827,802 | |
572,882,291 | |||
Property & Casualty Insurance–0.71% | |||
Allstate Corp. (The) | 516,995 | 86,607,002 | |
Rail Transportation–1.67% | |||
CSX Corp. | 2,983,187 | 100,682,561 | |
Norfolk Southern Corp. | 462,020 | 103,862,096 | |
204,544,657 | |||
Real Estate Services–1.29% | |||
CBRE Group, Inc., Class A(c) | 1,790,666 | 157,703,955 | |
Regional Banks–0.85% | |||
Citizens Financial Group, Inc. | 2,956,399 | 104,331,321 | |
Semiconductor Materials & Equipment–0.55% | |||
Lam Research Corp. | 71,766 | 66,917,489 | |
Semiconductors–2.41% | |||
Intel Corp. | 2,463,216 | 75,990,214 | |
Micron Technology, Inc.(b) | 999,014 | 124,876,750 | |
NXP Semiconductors N.V. (China) | 344,854 | 93,834,773 | |
294,701,737 | |||
Specialty Chemicals–1.24% | |||
DuPont de Nemours, Inc. | 1,102,713 | 90,598,900 | |
PPG Industries, Inc. | 461,595 | 60,658,199 | |
151,257,099 | |||
Systems Software–0.88% | |||
Oracle Corp. | 919,582 | 107,765,815 | |
Tobacco–1.16% | |||
Philip Morris International, Inc. | 1,394,841 | 141,408,980 | |
Trading Companies & Distributors–0.98% | |||
Ferguson PLC | 583,136 | 119,974,401 |
Shares | Value | ||
Transaction & Payment Processing Services–1.07% | |||
Fiserv, Inc.(c) | 869,530 | $130,220,813 | |
Wireless Telecommunication Services–1.08% | |||
T-Mobile US, Inc. | 755,084 | 132,109,497 | |
Total Common Stocks & Other Equity Interests (Cost $5,501,105,517) | 7,836,466,305 | ||
Principal Amount | |||
U.S. Dollar Denominated Bonds & Notes–19.27% | |||
Advertising–0.04% | |||
Omnicom Group, Inc./Omnicom Capital, Inc., 3.60%, 04/15/2026 | $5,660,000 | 5,489,037 | |
Aerospace & Defense–0.42% | |||
BAE Systems PLC (United Kingdom), 5.50%, 03/26/2054(d) | 3,130,000 | 3,050,120 | |
Boeing Co. (The), 5.81%, 05/01/2050 | 16,525,000 | 14,809,773 | |
Lockheed Martin Corp., | |||
3.55%, 01/15/2026 | 14,804,000 | 14,434,441 | |
4.15%, 06/15/2053(b) | 5,231,000 | 4,225,839 | |
5.20%, 02/15/2064 | 5,558,000 | 5,240,244 | |
RTX Corp., | |||
4.45%, 11/16/2038 | 3,239,000 | 2,862,162 | |
6.40%, 03/15/2054(b) | 6,223,000 | 6,790,081 | |
51,412,660 | |||
Agricultural Products & Services–0.03% | |||
Ingredion, Inc., 6.63%, 04/15/2037 | 3,940,000 | 4,237,280 | |
Air Freight & Logistics–0.05% | |||
FedEx Corp., 4.90%, 01/15/2034(b) | 4,310,000 | 4,174,115 | |
United Parcel Service, Inc., 3.40%, 11/15/2046 | 2,608,000 | 1,947,841 | |
6,121,956 | |||
Alternative Carriers–0.47% | |||
Liberty Latin America Ltd. (Puerto Rico), Conv., 2.00%, 07/15/2024 | 28,911,000 | 28,289,413 | |
Match Group Financeco 2, Inc., Conv., 0.88%, 06/15/2026(d) | 16,590,000 | 15,048,789 | |
Match Group Financeco 3, Inc., Conv., 2.00%, 01/15/2030(d) | 16,603,000 | 13,607,819 | |
56,946,021 | |||
Application Software–0.70% | |||
Dropbox, Inc., Conv., 0.00%, 03/01/2026(e) | 51,429,000 | 48,137,544 | |
Envestnet, Inc., Conv., 2.63%, 12/01/2027 | 23,029,000 | 25,389,473 | |
Salesforce, Inc., 2.70%, 07/15/2041 | 10,414,000 | 7,274,620 | |
Workday, Inc., 3.50%, 04/01/2027(b) | 5,033,000 | 4,810,290 | |
85,611,927 |
See accompanying notes which are an integral part of this schedule.
Invesco Equity and Income Fund
Principal Amount | Value | ||
Asset Management & Custody Banks–0.29% | |||
BlackRock, Inc., 4.75%, 05/25/2033(b) | $14,671,000 | $14,335,892 | |
Blackstone Holdings Finance Co. LLC, 5.00%, 06/15/2044(d) | 3,975,000 | 3,624,299 | |
Brookfield Corp. (Canada), 4.00%, 01/15/2025 | 4,515,000 | 4,470,379 | |
KKR Group Finance Co. III LLC, 5.13%, 06/01/2044(d) | 3,217,000 | 2,914,146 | |
KKR Group Finance Co. XII LLC, 4.85%, 05/17/2032(d) | 11,051,000 | 10,605,612 | |
35,950,328 | |||
Automobile Manufacturers–0.08% | |||
General Motors Co., 6.60%, 04/01/2036 | 4,317,000 | 4,523,741 | |
Honda Motor Co. Ltd. (Japan), 2.97%, 03/10/2032(b) | 5,448,000 | 4,757,818 | |
9,281,559 | |||
Biotechnology–1.18% | |||
AbbVie, Inc., | |||
4.50%, 05/14/2035 | 7,233,000 | 6,782,950 | |
4.05%, 11/21/2039 | 13,812,000 | 11,924,611 | |
4.85%, 06/15/2044 | 5,815,000 | 5,368,392 | |
Alnylam Pharmaceuticals, Inc., Conv., 1.00%, 09/15/2027 | 35,337,000 | 32,994,157 | |
Amgen, Inc., 5.25%, 03/02/2025 | 7,947,000 | 7,928,973 | |
Halozyme Therapeutics, Inc., Conv., 0.25%, 03/01/2027 | 49,785,000 | 45,080,317 | |
Jazz Investments I Ltd., Conv., 2.00%, 06/15/2026 | 35,890,000 | 34,373,648 | |
144,453,048 | |||
Brewers–0.23% | |||
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. (Belgium), | |||
4.70%, 02/01/2036 | 10,870,000 | 10,268,766 | |
4.90%, 02/01/2046 | 6,301,000 | 5,789,540 | |
Heineken N.V. (Netherlands), 3.50%, 01/29/2028(d) | 9,734,000 | 9,226,218 | |
Molson Coors Beverage Co., 4.20%, 07/15/2046(b) | 4,057,000 | 3,257,555 | |
28,542,079 | |||
Broadcasting–0.03% | |||
Discovery Communications LLC, 4.90%, 03/11/2026 | 3,773,000 | 3,724,653 | |
Broadline Retail–0.08% | |||
Amazon.com, Inc., 2.88%, 05/12/2041 | 13,606,000 | 10,059,378 | |
Building Products–0.04% | |||
Carrier Global Corp., 6.20%, 03/15/2054(b) | 4,481,000 | 4,809,974 | |
Cable & Satellite–1.06% | |||
Cable One, Inc., | |||
Conv., 0.00%, 03/15/2026(e) | 51,123,000 | 44,425,887 | |
1.13%, 03/15/2028 | 26,544,000 | 19,541,693 |
Principal Amount | Value | ||
Cable & Satellite–(continued) | |||
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 4.91%, 07/23/2025 | $1,305,000 | $1,291,984 | |
Comcast Corp., | |||
3.15%, 03/01/2026 | 11,319,000 | 10,942,952 | |
4.15%, 10/15/2028 | 9,915,000 | 9,575,637 | |
3.90%, 03/01/2038 | 8,010,000 | 6,769,811 | |
2.89%, 11/01/2051 | 3,128,000 | 1,947,295 | |
2.94%, 11/01/2056 | 4,539,000 | 2,730,222 | |
Cox Communications, Inc., 2.95%, 10/01/2050(d) | 2,044,000 | 1,220,498 | |
Liberty Broadband Corp., Conv., 3.13%, 04/06/2026(d)(f) | 33,219,000 | 31,531,475 | |
129,977,454 | |||
Commercial & Residential Mortgage Finance–0.06% | |||
Aviation Capital Group LLC, 4.88%, 10/01/2025(b)(d) | 7,745,000 | 7,628,150 | |
Commodity Chemicals–0.04% | |||
LYB Finance Co. B.V. (Netherlands), 8.10%, 03/15/2027(d) | 4,638,000 | 4,904,181 | |
Communications Equipment–0.03% | |||
Cisco Systems, Inc., 5.30%, 02/26/2054(b) | 3,481,000 | 3,417,469 | |
Computer & Electronics Retail–0.07% | |||
Dell International LLC/EMC Corp., | |||
6.02%, 06/15/2026 | 7,851,000 | 7,924,499 | |
8.35%, 07/15/2046 | 30,000 | 38,052 | |
7,962,551 | |||
Consumer Finance–0.12% | |||
American Express Co., 3.63%, 12/05/2024 | 3,423,000 | 3,388,774 | |
General Motors Financial Co., Inc., 5.25%, 03/01/2026 | 5,467,000 | 5,438,411 | |
Synchrony Financial, 3.95%, 12/01/2027(b) | 5,795,000 | 5,427,388 | |
14,254,573 | |||
Consumer Staples Merchandise Retail–0.15% | |||
Dollar General Corp., 4.25%, 09/20/2024 | 18,724,000 | 18,635,118 | |
Diversified Banks–0.94% | |||
Bank of America Corp., | |||
3.25%, 10/21/2027(b) | 5,705,000 | 5,385,648 | |
2.57%, 10/20/2032(g) | 8,683,000 | 7,165,399 | |
Citigroup, Inc., | |||
3.67%, 07/24/2028(g) | 5,405,000 | 5,136,323 | |
6.68%, 09/13/2043 | 8,000,000 | 8,777,749 | |
5.30%, 05/06/2044(b) | 2,765,000 | 2,625,248 | |
4.75%, 05/18/2046 | 4,145,000 | 3,631,813 | |
HSBC Holdings PLC (United Kingdom), 2.63%, 11/07/2025(b)(g) | 18,945,000 | 18,688,441 |
See accompanying notes which are an integral part of this schedule.
Invesco Equity and Income Fund
Principal Amount | Value | ||
Diversified Banks–(continued) | |||
JPMorgan Chase & Co., | |||
3.20%, 06/15/2026 | $4,365,000 | $4,202,097 | |
3.51%, 01/23/2029(g) | 11,170,000 | 10,515,311 | |
4.26%, 02/22/2048(g) | 5,355,000 | 4,519,657 | |
3.90%, 01/23/2049(g) | 11,170,000 | 8,849,698 | |
PNC Financial Services Group, Inc. (The), | |||
3.45%, 04/23/2029(b) | 7,450,000 | 6,880,616 | |
6.88%, 10/20/2034(b)(g) | 6,126,000 | 6,641,934 | |
U.S. Bancorp, Series W, 3.10%, 04/27/2026 | 3,245,000 | 3,112,121 | |
Wells Fargo & Co., | |||
3.55%, 09/29/2025 | 6,840,000 | 6,671,559 | |
4.10%, 06/03/2026 | 4,515,000 | 4,404,586 | |
4.65%, 11/04/2044(b) | 9,115,000 | 7,830,657 | |
115,038,857 | |||
Diversified Financial Services–0.03% | |||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland), 3.85%, 10/29/2041 | 4,009,000 | 3,131,833 | |
Diversified Metals & Mining–0.02% | |||
Rio Tinto Finance (USA) Ltd. (Australia), 7.13%, 07/15/2028(b) | 2,175,000 | 2,348,171 | |
Diversified REITs–0.07% | |||
CubeSmart L.P., 2.50%, 02/15/2032(b) | 10,561,000 | 8,554,417 | |
Drug Retail–0.06% | |||
CVS Pass-Through Trust, 6.04%, 12/10/2028 | 3,825,990 | 3,813,369 | |
Walgreens Boots Alliance, Inc., 4.50%, 11/18/2034(b) | 4,519,000 | 3,949,164 | |
7,762,533 | |||
Electric Utilities–1.39% | |||
Constellation Energy Generation LLC, 6.50%, 10/01/2053(b) | 2,992,000 | 3,197,976 | |
Electricite de France S.A. (France), 4.88%, 01/22/2044(d) | 9,110,000 | 7,919,858 | |
FirstEnergy Corp., Conv., 4.00%, 05/01/2026 | 54,373,000 | 54,590,492 | |
Georgia Power Co., Series B, 3.70%, 01/30/2050 | 3,665,000 | 2,718,405 | |
National Rural Utilities Cooperative Finance Corp., 2.75%, 04/15/2032(b) | 9,898,000 | 8,267,555 | |
NextEra Energy Capital Holdings, Inc., | |||
5.75%, 09/01/2025 | 22,708,000 | 22,753,999 | |
3.55%, 05/01/2027(b) | 5,572,000 | 5,314,475 | |
Oglethorpe Power Corp., 4.55%, 06/01/2044 | 5,806,000 | 4,712,090 | |
PPL Capital Funding, Inc., Conv., 2.88%, 03/15/2028 | 54,663,000 | 53,501,411 | |
PPL Electric Utilities Corp., 6.25%, 05/15/2039 | 355,000 | 381,592 |
Principal Amount | Value | ||
Electric Utilities–(continued) | |||
Xcel Energy, Inc., 3.50%, 12/01/2049 | $10,280,000 | $7,022,130 | |
170,379,983 | |||
Electrical Components & Equipment–0.02% | |||
Rockwell Automation, Inc., 1.75%, 08/15/2031(b) | 2,729,000 | 2,178,355 | |
Financial Exchanges & Data–0.02% | |||
Nasdaq, Inc., 5.95%, 08/15/2053 | 2,575,000 | 2,619,497 | |
Food Distributors–0.08% | |||
Sysco Corp., 3.75%, 10/01/2025 | 9,593,000 | 9,374,054 | |
Health Care Equipment–0.38% | |||
Becton, Dickinson and Co., 4.88%, 05/15/2044 | 3,739,000 | 3,203,960 | |
Integra LifeSciences Holdings Corp., Conv., 0.50%, 08/15/2025 | 42,831,000 | 40,271,848 | |
Medtronic, Inc., 4.38%, 03/15/2035 | 2,601,000 | 2,432,696 | |
45,908,504 | |||
Health Care REITs–0.17% | |||
Welltower OP LLC, Conv., 2.75%, 05/15/2028(d) | 17,592,000 | 20,869,390 | |
Health Care Services–0.12% | |||
Cigna Group (The), 4.80%, 08/15/2038 | 3,240,000 | 2,963,894 | |
CVS Health Corp., 3.38%, 08/12/2024 | 3,740,000 | 3,723,033 | |
NXP B.V./NXP Funding LLC (China), 5.35%, 03/01/2026 | 7,660,000 | 7,638,224 | |
14,325,151 | |||
Health Care Supplies–0.20% | |||
Haemonetics Corp., Conv., 2.50%, 06/01/2029(d) | 7,755,000 | 7,619,287 | |
Merit Medical Systems, Inc., Conv., 3.00%, 02/01/2029(d) | 15,227,000 | 17,236,964 | |
24,856,251 | |||
Home Improvement Retail–0.20% | |||
Home Depot, Inc. (The), 5.13%, 04/30/2025 | 20,528,000 | 20,528,244 | |
Lowe’s Cos., Inc., 4.25%, 04/01/2052 | 4,741,000 | 3,727,156 | |
24,255,400 | |||
Homebuilding–0.02% | |||
M.D.C. Holdings, Inc., 6.00%, 01/15/2043 | 2,117,000 | 2,121,606 | |
Hotels, Resorts & Cruise Lines–0.39% | |||
Airbnb, Inc., Conv., 0.00%, 03/15/2026(e) | 52,169,000 | 47,525,959 | |
Industrial Conglomerates–0.12% | |||
Honeywell International, Inc., 4.50%, 01/15/2034 | 16,007,000 | 15,278,242 |
See accompanying notes which are an integral part of this schedule.
Invesco Equity and Income Fund
Principal Amount | Value | ||
Industrial Machinery & Supplies & Components–0.25% | |||
John Bean Technologies Corp., Conv., 0.25%, 05/15/2026 | $33,206,000 | $30,479,787 | |
Integrated Oil & Gas–0.36% | |||
BP Capital Markets America, Inc., 2.94%, 06/04/2051 | 10,062,000 | 6,414,289 | |
Chevron Corp., 2.95%, 05/16/2026 | 9,807,000 | 9,431,048 | |
Exxon Mobil Corp., | |||
2.71%, 03/06/2025 | 5,658,000 | 5,545,369 | |
3.04%, 03/01/2026 | 11,316,000 | 10,933,954 | |
Shell International Finance B.V., 3.25%, 05/11/2025 | 11,316,000 | 11,104,434 | |
43,429,094 | |||
Integrated Telecommunication Services–0.31% | |||
AT&T, Inc., | |||
4.30%, 02/15/2030(b) | 3,526,000 | 3,361,989 | |
3.55%, 09/15/2055 | 4,562,000 | 3,065,658 | |
3.80%, 12/01/2057 | 3,619,000 | 2,521,508 | |
Orange S.A. (France), 9.00%, 03/01/2031 | 4,443,000 | 5,316,008 | |
Telefonica Emisiones S.A. (Spain), 5.21%, 03/08/2047(b) | 6,725,000 | 5,992,585 | |
Verizon Communications, Inc., | |||
3.38%, 02/15/2025(b) | 13,206,000 | 13,004,512 | |
3.40%, 03/22/2041 | 5,788,000 | 4,430,902 | |
37,693,162 | |||
Interactive Home Entertainment–0.03% | |||
Take-Two Interactive Software, Inc., 3.70%, 04/14/2027(b) | 3,559,000 | 3,412,747 | |
Interactive Media & Services–0.37% | |||
Meta Platforms, Inc., 5.60%, 05/15/2053 | 14,968,000 | 15,176,872 | |
Snap, Inc., Conv., 0.50%, 05/01/2030(d) | 31,281,000 | 30,300,851 | |
45,477,723 | |||
Internet Services & Infrastructure–0.24% | |||
Shopify, Inc. (Canada), Conv., 0.13%, 11/01/2025 | 31,379,000 | 29,213,849 | |
Investment Banking & Brokerage–1.89% | |||
Goldman Sachs Group, Inc. (The), | |||
4.25%, 10/21/2025 | 5,807,000 | 5,705,135 | |
2.91%, 07/21/2042(g) | 3,205,000 | 2,267,401 | |
GS Finance Corp., | |||
Series 0003, Conv., 0.50%, 04/11/2028(d) | 62,573,000 | 73,421,963 | |
0.00%, 07/19/2029(d)(e) | 62,330,000 | 77,903,473 | |
1.00%, 07/30/2029(d) | 62,338,000 | 64,465,053 | |
Morgan Stanley, 4.00%, 07/23/2025(b) | 6,870,000 | 6,760,281 | |
230,523,306 | |||
Life & Health Insurance–0.62% | |||
American National Group, Inc., 5.00%, 06/15/2027 | 8,671,000 | 8,406,734 | |
Athene Global Funding, 2.75%, 06/25/2024(d) | 2,890,000 | 2,884,622 | |
Brighthouse Financial, Inc., 3.85%, 12/22/2051 | 18,342,000 | 11,497,152 |
Principal Amount | Value | ||
Life & Health Insurance–(continued) | |||
Delaware Life Global Funding, Series 21-1, 2.66%, 06/29/2026(d) | $20,728,000 | $19,223,772 | |
GA Global Funding Trust, 5.50%, 01/08/2029(d) | 12,448,000 | 12,401,634 | |
Nationwide Financial Services, Inc., 5.30%, 11/18/2044(d) | 4,250,000 | 3,856,361 | |
Pacific Life Global Funding II, 5.50%, 08/28/2026(d) | 13,319,000 | 13,392,369 | |
Prudential Financial, Inc., 3.91%, 12/07/2047 | 4,898,000 | 3,771,875 | |
75,434,519 | |||
Life Sciences Tools & Services–0.17% | |||
Thermo Fisher Scientific, Inc., 1.22%, 10/18/2024 | 21,232,000 | 20,890,253 | |
Managed Health Care–0.04% | |||
UnitedHealth Group, Inc., 3.50%, 08/15/2039 | 5,806,000 | 4,681,568 | |
Movies & Entertainment–0.46% | |||
Liberty Media Corp.-Liberty Formula One, Conv., 2.25%, 08/15/2027 | 20,617,000 | 22,359,934 | |
TWDC Enterprises 18 Corp., 3.00%, 02/13/2026 | 3,773,000 | 3,638,250 | |
Warnermedia Holdings, Inc., | |||
3.79%, 03/15/2025(b) | 16,392,000 | 16,124,965 | |
5.05%, 03/15/2042(b) | 7,965,000 | 6,586,212 | |
5.14%, 03/15/2052(b) | 9,886,000 | 7,809,197 | |
56,518,558 | |||
Multi-line Insurance–0.05% | |||
Liberty Mutual Group, Inc., 3.95%, 05/15/2060(d) | 9,030,000 | 6,225,720 | |
Multi-Utilities–0.08% | |||
NiSource, Inc., 4.38%, 05/15/2047 | 6,015,000 | 4,911,345 | |
Sempra, 3.80%, 02/01/2038 | 5,871,000 | 4,802,244 | |
9,713,589 | |||
Oil & Gas Exploration & Production–0.32% | |||
Cameron LNG LLC, 3.70%, 01/15/2039(d) | 6,519,000 | 5,263,490 | |
ConocoPhillips Co., 4.15%, 11/15/2034 | 2,403,000 | 2,174,740 | |
Diamondback Energy, Inc., 5.75%, 04/18/2054 | 5,160,000 | 4,978,178 | |
Northern Oil and Gas, Inc., Conv., 3.63%, 04/15/2029 | 21,570,000 | 26,148,232 | |
38,564,640 | |||
Oil & Gas Refining & Marketing–0.03% | |||
Valero Energy Corp., 4.00%, 06/01/2052(b) | 5,068,000 | 3,734,152 | |
Oil & Gas Storage & Transportation–0.53% | |||
Energy Transfer L.P., | |||
6.40%, 12/01/2030(b) | 4,861,000 | 5,076,687 | |
4.90%, 03/15/2035 | 3,640,000 | 3,394,932 | |
5.30%, 04/01/2044 | 8,165,000 | 7,321,125 | |
5.00%, 05/15/2050 | 7,684,000 | 6,527,163 |
See accompanying notes which are an integral part of this schedule.
Invesco Equity and Income Fund
Principal Amount | Value | ||
Oil & Gas Storage & Transportation–(continued) | |||
Enterprise Products Operating LLC, | |||
6.45%, 09/01/2040 | $555,000 | $599,024 | |
4.25%, 02/15/2048(b) | 7,354,000 | 6,025,671 | |
Kinder Morgan, Inc., | |||
4.30%, 06/01/2025 | 9,053,000 | 8,933,407 | |
5.30%, 12/01/2034(b) | 4,203,000 | 4,072,910 | |
MPLX L.P., 4.50%, 04/15/2038 | 8,564,000 | 7,453,867 | |
Spectra Energy Partners L.P., 4.50%, 03/15/2045 | 5,468,000 | 4,485,455 | |
Texas Eastern Transmission L.P., 7.00%, 07/15/2032 | 3,835,000 | 4,181,721 | |
Williams Cos., Inc. (The), 5.40%, 03/02/2026 | 7,016,000 | 7,005,710 | |
65,077,672 | |||
Other Specialized REITs–0.14% | |||
EPR Properties, 4.75%, 12/15/2026(b) | 17,525,000 | 16,931,616 | |
Packaged Foods & Meats–0.01% | |||
Mead Johnson Nutrition Co. (United Kingdom), 4.13%, 11/15/2025 | 648,000 | 637,218 | |
Paper & Plastic Packaging Products & Materials–0.02% | |||
International Paper Co., 6.00%, 11/15/2041(b) | 2,855,000 | 2,818,369 | |
Passenger Airlines–0.07% | |||
American Airlines Pass-Through Trust, Series 2014-1, Class A, 3.70%, 04/01/2028 | 2,283,161 | 2,181,253 | |
United Airlines Pass-Through Trust, | |||
Series 2014-2, Class A, 3.75%, 09/03/2026 | 2,870,273 | 2,752,114 | |
Series 2018-1, Class AA, 3.50%, 03/01/2030 | 3,883,972 | 3,563,901 | |
8,497,268 | |||
Personal Care Products–0.05% | |||
Kenvue, Inc., 5.05%, 03/22/2053(b) | 7,142,000 | 6,718,317 | |
Pharmaceuticals–0.38% | |||
Bayer US Finance II LLC (Germany), 4.38%, 12/15/2028(b)(d) | 9,800,000 | 9,261,241 | |
Bayer US Finance LLC (Germany), 6.88%, 11/21/2053(b)(d) | 4,531,000 | 4,701,506 | |
Bristol-Myers Squibb Co., | |||
4.13%, 06/15/2039 | 6,435,000 | 5,568,319 | |
6.25%, 11/15/2053 | 8,079,000 | 8,709,075 | |
Haleon US Capital LLC, 4.00%, 03/24/2052(b) | 2,954,000 | 2,341,273 | |
Pacira BioSciences, Inc., Conv., 0.75%, 08/01/2025 | 13,205,000 | 12,378,367 | |
Zoetis, Inc., 4.70%, 02/01/2043 | 4,101,000 | 3,667,513 | |
46,627,294 | |||
Property & Casualty Insurance–0.14% | |||
Allstate Corp. (The), 3.28%, 12/15/2026 | 3,260,000 | 3,107,002 |
Principal Amount | Value | ||
Property & Casualty Insurance–(continued) | |||
Markel Group, Inc., | |||
5.00%, 03/30/2043 | $4,185,000 | $3,703,411 | |
5.00%, 05/20/2049 | 5,140,000 | 4,552,045 | |
Travelers Cos., Inc. (The), 4.60%, 08/01/2043 | 6,455,000 | 5,808,733 | |
17,171,191 | |||
Rail Transportation–0.22% | |||
Canadian Pacific Railway Co. (Canada), 3.00%, 12/02/2041(b) | 3,965,000 | 3,432,404 | |
Norfolk Southern Corp., | |||
3.40%, 11/01/2049 | 4,879,000 | 3,428,110 | |
5.35%, 08/01/2054(b) | 5,099,000 | 4,853,176 | |
Union Pacific Corp., | |||
3.20%, 05/20/2041 | 10,131,000 | 7,691,264 | |
4.15%, 01/15/2045 | 4,410,000 | 3,546,064 | |
3.84%, 03/20/2060 | 5,560,000 | 4,074,586 | |
27,025,604 | |||
Regional Banks–0.03% | |||
Citizens Financial Group, Inc., 6.65%, 04/25/2035(b)(g) | 3,122,000 | 3,204,987 | |
Reinsurance–0.06% | |||
Global Atlantic (Fin) Co., 6.75%, 03/15/2054(b)(d) | 2,423,000 | 2,422,704 | |
PartnerRe Finance B LLC, 3.70%, 07/02/2029 | 5,795,000 | 5,397,237 | |
7,819,941 | |||
Restaurants–0.06% | |||
Starbucks Corp., 3.55%, 08/15/2029(b) | 7,440,000 | 6,945,261 | |
Retail REITs–0.24% | |||
Brixmor Operating Partnership L.P., 5.50%, 02/15/2034 | 10,029,000 | 9,791,009 | |
Kimco Realty OP LLC, 3.20%, 04/01/2032(b) | 12,105,000 | 10,330,095 | |
Regency Centers L.P., | |||
2.95%, 09/15/2029 | 7,960,000 | 7,112,058 | |
4.65%, 03/15/2049 | 2,970,000 | 2,495,155 | |
29,728,317 | |||
Self-Storage REITs–0.07% | |||
Extra Space Storage L.P., | |||
3.50%, 07/01/2026(b) | 4,667,000 | 4,477,214 | |
5.70%, 04/01/2028 | 3,806,000 | 3,848,562 | |
8,325,776 | |||
Semiconductors–0.76% | |||
Broadcom, Inc., 3.47%, 04/15/2034(b)(d) | 6,975,000 | 5,881,640 | |
Marvell Technology, Inc., 2.45%, 04/15/2028 | 12,029,000 | 10,811,857 | |
Microchip Technology, Inc., | |||
Conv., 0.13%, 11/15/2024 | 39,559,000 | 43,772,033 | |
0.75%, 06/01/2027(d)(f) | 23,269,000 | 23,830,803 |
See accompanying notes which are an integral part of this schedule.
Invesco Equity and Income Fund
Principal Amount | Value | ||
Semiconductors–(continued) | |||
Micron Technology, Inc., | |||
4.66%, 02/15/2030(b) | $7,270,000 | $7,020,589 | |
3.37%, 11/01/2041 | 1,778,000 | 1,303,011 | |
92,619,933 | |||
Specialty Chemicals–0.01% | |||
Sherwin-Williams Co. (The), 4.50%, 06/01/2047 | 1,665,000 | 1,411,756 | |
Systems Software–0.22% | |||
Microsoft Corp., 3.50%, 02/12/2035(b) | 4,259,000 | 3,830,894 | |
Oracle Corp., 3.60%, 04/01/2040 | 10,910,000 | 8,408,916 | |
VMware LLC, 1.00%, 08/15/2024 | 14,992,000 | 14,844,949 | |
27,084,759 | |||
Technology Distributors–0.06% | |||
Avnet, Inc., 4.63%, 04/15/2026 | 7,645,000 | 7,503,619 | |
Technology Hardware, Storage & Peripherals–0.03% | |||
Apple, Inc., 3.35%, 02/09/2027 | 3,495,000 | 3,364,754 | |
Telecom Tower REITs–0.16% | |||
American Tower Corp., 1.60%, 04/15/2026 | 8,541,000 | 7,954,261 | |
Crown Castle, Inc., | |||
2.50%, 07/15/2031(b) | 14,073,000 | 11,571,266 | |
4.75%, 05/15/2047(b) | 470,000 | 401,406 | |
19,926,933 | |||
Tobacco–0.29% | |||
Altria Group, Inc., 5.80%, 02/14/2039 | 12,541,000 | 12,444,720 | |
Philip Morris International, Inc., | |||
3.25%, 11/10/2024(b) | 12,062,000 | 11,942,776 | |
4.88%, 11/15/2043 | 11,740,000 | 10,470,423 | |
34,857,919 | |||
Trading Companies & Distributors–0.04% | |||
Air Lease Corp., 4.25%, 09/15/2024 | 4,355,000 | 4,334,867 | |
Transaction & Payment Processing Services–0.74% | |||
Block, Inc., Conv., 0.13%, 03/01/2025 | 45,518,000 | 43,786,040 | |
Fiserv, Inc., 2.75%, 07/01/2024 | 1,954,000 | 1,949,441 | |
Global Payments, Inc., Conv., 1.50%, 03/01/2031(d) | 48,873,000 | 45,094,452 | |
90,829,933 | |||
Wireless Telecommunication Services–0.32% | |||
America Movil S.A.B. de C.V. (Mexico), 4.38%, 07/16/2042(b) | 6,610,000 | 5,648,109 | |
Rogers Communications, Inc. (Canada), | |||
4.50%, 03/15/2043(b) | 6,080,000 | 5,141,659 | |
4.30%, 02/15/2048 | 8,020,000 | 6,342,201 |
Principal Amount | Value | ||
Wireless Telecommunication Services–(continued) | |||
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, 4.74%, 03/20/2025(d) | $5,074,250 | $5,037,924 | |
T-Mobile USA, Inc., | |||
2.70%, 03/15/2032(b) | 10,676,000 | 8,880,002 | |
3.40%, 10/15/2052 | 7,422,000 | 5,051,329 | |
6.00%, 06/15/2054(b) | 3,234,000 | 3,343,602 | |
39,444,826 | |||
Total U.S. Dollar Denominated Bonds & Notes (Cost $2,479,814,765) | 2,354,848,396 | ||
U.S. Treasury Securities–9.71% | |||
U.S. Treasury Bills–0.01% | |||
5.27%, 09/05/2024(h)(i) | 1,800,000 | 1,775,490 | |
U.S. Treasury Bonds–0.78% | |||
4.50%, 02/15/2036 | 5,525,000 | 5,573,775 | |
4.63%, 05/15/2044 | 59,827,900 | 59,182,880 | |
4.25%, 02/15/2054 | 31,887,200 | 29,916,671 | |
94,673,326 | |||
U.S. Treasury Notes–8.92% | |||
4.88%, 04/30/2026 | 312,913,000 | 312,827,437 | |
4.50%, 05/15/2027 | 227,929,000 | 226,869,486 | |
4.63%, 04/30/2029 | 318,991,900 | 320,586,859 | |
4.63%, 04/30/2031 | 207,598,000 | 209,154,985 | |
4.38%, 05/15/2034 | 20,463,300 | 20,282,648 | |
1,089,721,415 | |||
Total U.S. Treasury Securities (Cost $1,182,550,820) | 1,186,170,231 | ||
Shares | |||
Preferred Stocks–0.54% | |||
Asset Management & Custody Banks–0.20% | |||
AMG Capital Trust II, 5.15%, Conv. Pfd. | 483,000 | 24,787,560 | |
Oil & Gas Storage & Transportation–0.34% | |||
El Paso Energy Capital Trust I, 4.75%, Conv. Pfd. | 875,900 | 41,605,250 | |
Total Preferred Stocks (Cost $60,254,605) | 66,392,810 | ||
Principal Amount | |||
U.S. Government Sponsored Agency Mortgage-Backed Securities–0.12% | |||
Federal Home Loan Mortgage Corp. (FHLMC)–0.06% | |||
6.75%, 03/15/2031 | $7,000,001 | 7,873,603 | |
5.50%, 02/01/2037 | 3 | 3 | |
7,873,606 | |||
Federal National Mortgage Association (FNMA)–0.06% | |||
6.63%, 11/15/2030 | 6,315,000 | 7,013,059 | |
7.00%, 07/01/2032 | 3,769 | 3,872 | |
7,016,931 |
See accompanying notes which are an integral part of this schedule.
Invesco Equity and Income Fund
Principal Amount | Value | ||
Government National Mortgage Association (GNMA)–0.00% | |||
8.00%, 06/15/2026 to 01/20/2031 | $3,101 | $3,126 | |
7.50%, 12/20/2030 | 337 | 343 | |
3,469 | |||
Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $17,460,460) | 14,894,006 | ||
Municipal Obligations–0.04% | |||
Georgia (State of) Municipal Electric Authority (Plant Vogtle Units 3 & 4), Series 2010 A, RB, 6.66%, 04/01/2057 (Cost $4,661,000) | 4,661,000 | 5,250,029 | |
Shares | |||
Money Market Funds–5.90% | |||
Invesco Government & Agency Portfolio, Institutional Class, 5.23%(j)(k) | 253,877,094 | 253,877,094 | |
Invesco Liquid Assets Portfolio, Institutional Class, 5.30%(j)(k) | 176,240,462 | 176,293,335 | |
Invesco Treasury Portfolio, Institutional Class, 5.22%(j)(k) | 290,145,250 | 290,145,250 | |
Total Money Market Funds (Cost $720,239,259) | 720,315,679 | ||
TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-99.72% (Cost $9,966,086,426) | 12,184,337,456 |
Shares | Value | ||
Investments Purchased with Cash Collateral from Securities on Loan | |||
Money Market Funds–1.96% | |||
Invesco Private Government Fund, 5.30%(j)(k)(l) | 66,855,271 | $66,855,271 | |
Invesco Private Prime Fund, 5.48%(j)(k)(l) | 171,861,955 | 171,913,513 | |
Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $238,768,834) | 238,768,784 | ||
TOTAL INVESTMENTS IN SECURITIES–101.68% (Cost $10,204,855,260) | 12,423,106,240 | ||
OTHER ASSETS LESS LIABILITIES—(1.68)% | (205,520,634) | ||
NET ASSETS–100.00% | $12,217,585,606 |
Investment Abbreviations:
Conv. | – Convertible |
Pfd. | – Preferred |
RB | – Revenue Bonds |
REIT | – Real Estate Investment Trust |
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 May 31, 2024. |
(c) | Non-income producing security. |
(d) | 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 May 31, 2024 was $562,576,384, which represented 4.60% of the Fund’s Net Assets. |
(e) | Zero coupon bond issued at a discount. |
(f) | Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put. |
(g) | Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate. |
(h) | All or a portion of the value was pledged as collateral to cover margin requirements for open futures contracts. |
(i) | Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund. |
(j) | 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 nine months ended May 31, 2024. |
Value August 31, 2023 | Purchases at Cost | Proceeds from Sales | Change in Unrealized Appreciation | Realized Gain | Value May 31, 2024 | Dividend Income | |
Investments in Affiliated Money Market Funds: | |||||||
Invesco Government & Agency Portfolio, Institutional Class | $184,477,754 | $656,619,669 | $(587,220,329) | $- | $- | $253,877,094 | $8,313,110 |
Invesco Liquid Assets Portfolio, Institutional Class | 126,706,527 | 469,014,049 | (419,443,091) | 14,824 | 1,026 | 176,293,335 | 5,894,554 |
Invesco Treasury Portfolio, Institutional Class | 210,831,719 | 750,422,478 | (671,108,947) | - | - | 290,145,250 | 9,482,103 |
See accompanying notes which are an integral part of this schedule.
Invesco Equity and Income Fund
Value August 31, 2023 | Purchases at Cost | Proceeds from Sales | Change in Unrealized Appreciation | Realized Gain | Value May 31, 2024 | Dividend Income | |
Investments Purchased with Cash Collateral from Securities on Loan: | |||||||
Invesco Private Government Fund | $39,668,762 | $746,555,883 | $(719,369,374) | $- | $- | $66,855,271 | $1,768,945* |
Invesco Private Prime Fund | 102,005,388 | 1,588,416,480 | (1,518,532,751) | 3,620 | 20,776 | 171,913,513 | 4,854,045* |
Total | $663,690,150 | $4,211,028,559 | $(3,915,674,492) | $18,444 | $21,802 | $959,084,463 | $30,312,757 |
* | 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. |
(k) | The rate shown is the 7-day SEC standardized yield as of May 31, 2024. |
(l) | 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 Futures Contracts | |||||
Short Futures Contracts | Number of Contracts | Expiration Month | Notional Value | Value | Unrealized Appreciation |
Interest Rate Risk | |||||
U.S. Treasury 5 Year Notes | 85 | September-2024 | $(8,992,734) | $5,141 | $5,141 |
U.S. Treasury 10 Year Notes | 203 | September-2024 | (22,085,766) | 2,731 | 2,731 |
U.S. Treasury 10 Year Ultra Notes | 299 | September-2024 | (33,497,344) | 139,508 | 139,508 |
Total Futures Contracts | $147,380 | $147,380 |
Open Forward Foreign Currency Contracts | ||||||
Settlement Date | Counterparty | Contract to | Unrealized Appreciation (Depreciation) | |||
Deliver | Receive | |||||
Currency Risk | ||||||
06/06/2024 | State Street Bank & Trust Co. | CAD | 1,871,329 | USD | 1,374,034 | $962 |
06/06/2024 | State Street Bank & Trust Co. | USD | 74,038,541 | CAD | 101,488,987 | 428,104 |
06/06/2024 | State Street Bank & Trust Co. | USD | 90,587,707 | EUR | 83,766,473 | 309,974 |
06/06/2024 | State Street Bank & Trust Co. | USD | 119,623,885 | GBP | 94,118,374 | 307,718 |
07/05/2024 | State Street Bank & Trust Co. | USD | 1,634,761 | EUR | 1,511,110 | 7,109 |
Subtotal—Appreciation | 1,053,867 | |||||
Currency Risk | ||||||
06/06/2024 | Bank of New York Mellon (The) | GBP | 90,819,129 | USD | 113,641,158 | (2,086,337) |
06/06/2024 | State Street Bank & Trust Co. | CAD | 102,118,592 | USD | 74,301,458 | (627,156) |
06/06/2024 | State Street Bank & Trust Co. | EUR | 86,351,745 | USD | 92,364,963 | (1,338,078) |
06/06/2024 | State Street Bank & Trust Co. | GBP | 4,525,352 | USD | 5,676,866 | (89,625) |
06/06/2024 | State Street Bank & Trust Co. | USD | 1,838,688 | CAD | 2,500,934 | (3,649) |
06/06/2024 | State Street Bank & Trust Co. | USD | 2,814,184 | EUR | 2,585,272 | (8,823) |
06/06/2024 | State Street Bank & Trust Co. | USD | 1,566,163 | GBP | 1,226,107 | (3,780) |
07/05/2024 | State Street Bank & Trust Co. | CAD | 96,452,138 | USD | 70,401,993 | (410,478) |
07/05/2024 | State Street Bank & Trust Co. | EUR | 82,146,126 | USD | 88,957,354 | (297,076) |
07/05/2024 | State Street Bank & Trust Co. | GBP | 91,660,904 | USD | 116,518,516 | (298,409) |
Subtotal—Depreciation | (5,163,411) | |||||
Total Forward Foreign Currency Contracts | $(4,109,544) |
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 Equity and Income Fund
Notes to Quarterly Schedule of Portfolio Holdings
May 31, 2024
(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 May 31, 2024. 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 | $7,560,635,158 | $275,831,147 | $— | $7,836,466,305 |
U.S. Dollar Denominated Bonds & Notes | — | 2,354,848,396 | — | 2,354,848,396 |
U.S. Treasury Securities | — | 1,186,170,231 | — | 1,186,170,231 |
Preferred Stocks | 66,392,810 | — | — | 66,392,810 |
U.S. Government Sponsored Agency Mortgage-Backed Securities | — | 14,894,006 | — | 14,894,006 |
Municipal Obligations | — | 5,250,029 | — | 5,250,029 |
Money Market Funds | 720,315,679 | 238,768,784 | — | 959,084,463 |
Total Investments in Securities | 8,347,343,647 | 4,075,762,593 | — | 12,423,106,240 |
Other Investments - Assets* | ||||
Futures Contracts | 147,380 | — | — | 147,380 |
Forward Foreign Currency Contracts | — | 1,053,867 | — | 1,053,867 |
147,380 | 1,053,867 | — | 1,201,247 | |
Other Investments - Liabilities* | ||||
Forward Foreign Currency Contracts | — | (5,163,411) | — | (5,163,411) |
Total Other Investments | 147,380 | (4,109,544) | — | (3,962,164) |
Total Investments | $8,347,491,027 | $4,071,653,049 | $— | $12,419,144,076 |
* | Unrealized appreciation (depreciation). |
Invesco Equity and Income Fund