SCHEDULE OF INVESTMENTSJanuary 31, 2020 Unaudited
Shares | Value | Shares | Value | ||||||||
Common Stocks—97.6% | Pharmaceuticals—4.1% | ||||||||||
Consumer Discretionary—6.4% | Bristol-Myers | ||||||||||
Automobiles—3.5% | Squibb Co. | 423,668 | $ | 26,669,901 | |||||||
General Motors Co. | 1,262,378 | $ 42,150,801 | Sanofi | 236,761 | 22,834,166 | ||||||
Hotels, Restaurants & Leisure—2.9% | 49,504,067 | ||||||||||
Carnival Corp. | 796,182 | 34,657,803 | Industrials—9.4% | ||||||||
Consumer Staples—7.5% | Aerospace & Defense—1.7% | ||||||||||
Household Products—2.7% | Textron, Inc. | 434,770 | 19,968,986 | ||||||||
Kimberly-Clark | Building Products—1.9% | ||||||||||
Corp. | 228,104 | 32,673,617 | Johnson Controls | ||||||||
Tobacco—4.8% | International plc | 572,731 | 22,594,238 | ||||||||
Philip Morris | Electrical Equipment—4.7% | ||||||||||
International, Inc. | 686,529 | 56,775,948 | Eaton Corp. plc | 337,638 | 31,896,662 | ||||||
Energy—16.1% | Emerson Electric Co. | 338,979 | 24,281,066 | ||||||||
Oil, Gas & Consumable Fuels—16.1% | 56,177,728 | ||||||||||
BP plc | 6,475,664 | 39,026,652 | Machinery—1.1% | ||||||||
Chevron Corp. | 416,385 | 44,611,489 | Caterpillar, Inc. | 100,847 | 13,246,253 | ||||||
Marathon Oil Corp. | 3,443,744 | 39,155,369 | Information Technology—10.8% | ||||||||
Noble Energy, Inc. | 1,481,794 | 29,295,068 | Semiconductors & Semiconductor | ||||||||
Suncor Energy, Inc. | 1,324,200 | 40,507,278 | Equipment—7.0% | ||||||||
192,595,856 | Intel Corp. | 747,742 | 47,803,146 | ||||||||
Financials—32.3% | QUALCOMM, Inc. | 422,923 | 36,079,561 | ||||||||
Capital Markets—9.9% | 83,882,707 | ||||||||||
Bank of New York | Software—3.8% | ||||||||||
Mellon Corp. (The) | 606,590 | 27,163,100 | Microsoft Corp. | 266,220 | 45,318,631 | ||||||
Goldman Sachs | |||||||||||
Group, Inc. (The) | 169,514 | 40,301,954 | Telecommunication Services—4.8% | ||||||||
Morgan Stanley | 958,662 | 50,099,676 | Diversified Telecommunication Services—4.8% | ||||||||
117,564,730 | AT&T, Inc. | 1,510,629 | 56,829,863 | ||||||||
Total Common Stocks | |||||||||||
Commercial Banks—17.8% | (Cost $1,046,670,963) | 1,164,627,076 | |||||||||
Bank of America | |||||||||||
Corp. | 2,035,189 | 66,815,255 | |||||||||
Citigroup, Inc. | 1,541,992 | 114,739,625 | Investment Company—2.2% | ||||||||
Citizens Financial | Invesco Government | ||||||||||
Group, Inc. | 814,931 | 30,380,627 | & Agency Portfolio, | ||||||||
211,935,507 | Institutional Class, | ||||||||||
Insurance—4.6% | 1.48%1(Cost | ||||||||||
American | $26,212,092) | 26,212,092 | 26,212,092 | ||||||||
International Group, | |||||||||||
Inc. | 1,100,106 | 55,291,328 | Total | ||||||||
Health Care—10.3% | Investments, | ||||||||||
at Value (Cost | |||||||||||
Health Care Providers & Services—6.2% | $1,072,883,055) | 99.8 | % | 1,190,839,168 | |||||||
Anthem, Inc. | 137,447 | 36,461,940 | Net Other Assets | ||||||||
CVS Health Corp. | 264,828 | 17,960,635 | (Liabilities) | 0.2 | 2,866,385 | ||||||
McKesson Corp. | 133,486 | 19,036,438 | Net Assets | 100.0% | $ | 1,193,705,553 | |||||
73,459,013 |
1 INVESCO OPPENHEIMER VALUE FUND
SCHEDULE OF INVESTMENTSUnaudited / Continued
Footnotes to Schedule of Investments
1.The money market fund and the Fund are affiliated by having the same investment adviser.The rate shown is the
7-day SEC standardized yield as of January 31, 2020.
2 INVESCO OPPENHEIMER VALUE FUND
NOTES TO SCHEDULE OF INVESTMENTSJanuary 31, 2020 Unaudited
Note 1 – Additional Valuation Information
The following is a summary of the tiered valuation input levels, as of January 31, 2020. 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 3— | |||||||
Level 1— | Level 2— | Significant | |||||
Unadjusted | Other Significant | Unobservable | |||||
Quoted Prices | Observable Inputs | Inputs | Value | ||||
Assets Table | |||||||
Investments, at Value: | |||||||
Common Stocks | |||||||
Consumer Discretionary | $ | 76,808,604 | $ — | $ — | $ 76,808,604 | ||
Consumer Staples | 89,449,565 | — | — | 89,449,565 | |||
Energy | 153,569,204 | 39,026,652 | — | 192,595,856 | |||
Financials | 384,791,565 | — | — | 384,791,565 | |||
Health Care | 100,128,914 | 22,834,166 | — | 122,963,080 | |||
Industrials | 111,987,205 | — | — | 111,987,205 | |||
Information Technology | 129,201,338 | — | — | 129,201,338 | |||
Telecommunication Services | 56,829,863 | — | — | 56,829,863 | |||
Investment Company | 26,212,092 | — | — | 26,212,092 | |||
Total Assets | $ 1,128,978,350 | $ 61,860,818 | $ — | $ 1,190,839,168 |
Note 2- Subsequent Event
The World Health Organization has declared the coronavirus (COVID-19) to be a public health
emergency. COVID-19 has led to increased short-term market volatility and may have adverse
long-term effects on U.S. and world economies and markets in general. COVID-19 may
adversely impact the Fund's ability to achieve its investment objective as stated in the most
recent shareholder report. Because of the uncertainties on valuation, the global economy and
business operations, values reflected in the Schedule of Investments may materially differ from
the value received upon actual sales of those investments.
3 INVESCO OPPENHEIMER VALUE FUND