Consolidated Schedule of Investments(a)
July 31, 2023
(Unaudited)
Shares | Value | ||
Exchange-Traded Funds–52.04% | |||
Invesco Emerging Markets Sovereign Debt ETF(b)(c) | 1,700,000 | $33,847,000 | |
Invesco High Yield Bond Factor ETF(b) | 1,076,000 | 23,435,280 | |
Invesco International Developed Dynamic Multifactor ETF(b)(c) | 5,817,300 | 144,981,659 | |
Invesco Russell 1000® Dynamic Multifactor ETF(b)(c) | 4,586,860 | 232,095,116 | |
Invesco Russell 2000® Dynamic Multifactor ETF(b)(c) | 1,607,300 | 61,447,079 | |
iShares iBoxx High Yield Corporate Bond ETF(c) | 922,000 | 69,611,000 | |
Total Exchange-Traded Funds (Cost $454,771,106) | 565,417,134 | ||
Common Stocks & Other Equity Interests–21.76% | |||
Advertising–0.08% | |||
Trade Desk, Inc. (The), Class A(d) | 9,874 | 901,101 | |
Aerospace & Defense–0.54% | |||
Airbus SE (France) | 25,728 | 3,790,379 | |
Axon Enterprise, Inc.(d) | 2,404 | 446,976 | |
Howmet Aerospace, Inc. | 12,672 | 648,046 | |
TransDigm Group, Inc. | 1,032 | 928,511 | |
5,813,912 | |||
Air Freight & Logistics–0.35% | |||
United Parcel Service, Inc., Class B | 4,257 | 796,613 | |
ZTO Express (Cayman), Inc. (China) | 5,979 | 165,165 | |
ZTO Express (Cayman), Inc., ADR (China) | 103,814 | 2,886,029 | |
3,847,807 | |||
Apparel, Accessories & Luxury Goods–1.22% | |||
Brunello Cucinelli S.p.A. (Italy) | 5,334 | 451,442 | |
Cie Financiere Richemont S.A. (Switzerland) | 14,835 | 2,390,351 | |
Cie Financiere Richemont S.A., Wts., expiring 11/22/2023 (Switzerland)(d) | 36,082 | 44,459 | |
Ermenegildo Zegna N.V. (Italy) | 19,581 | 310,750 | |
Hermes International (France) | 693 | 1,533,447 | |
Kering S.A. (France) | 2,835 | 1,629,543 | |
LVMH Moet Hennessy Louis Vuitton SE (France) | 6,090 | 5,685,480 | |
PRADA S.p.A. (Italy) | 172,600 | 1,224,625 | |
13,270,097 | |||
Application Software–1.30% | |||
Adobe, Inc.(d) | 4,882 | 2,666,402 | |
Cadence Design Systems, Inc.(d) | 1,461 | 341,889 | |
Dassault Systemes SE (France) | 16,213 | 693,945 | |
Datadog, Inc., Class A(d) | 8,514 | 993,754 | |
Fair Isaac Corp.(d) | 336 | 281,558 | |
HubSpot, Inc.(d) | 1,525 | 885,339 | |
Intuit, Inc. | 5,236 | 2,679,261 | |
Manhattan Associates, Inc.(d) | 4,041 | 770,296 | |
Nice Ltd., ADR (Israel)(d) | 2,916 | 635,251 |
Shares | Value | ||
Application Software–(continued) | |||
Procore Technologies, Inc.(d) | 5,179 | $392,827 | |
Samsara, Inc., Class A(d) | 16,814 | 469,783 | |
SAP SE (Germany) | 12,700 | 1,736,990 | |
Splunk, Inc.(d) | 2,737 | 296,499 | |
Synopsys, Inc.(d) | 2,180 | 984,924 | |
Xero Ltd. (New Zealand)(d) | 4,218 | 347,026 | |
14,175,744 | |||
Asset Management & Custody Banks–0.08% | |||
Ares Management Corp., Class A | 4,822 | 478,439 | |
KKR & Co., Inc., Class A | 6,011 | 356,933 | |
835,372 | |||
Automotive Parts & Equipment–0.07% | |||
Aptiv PLC(d) | 3,300 | 361,317 | |
Mobileye Global, Inc., Class A (Israel)(d) | 9,441 | 360,457 | |
721,774 | |||
Automotive Retail–0.05% | |||
O’Reilly Automotive, Inc., Class R(d) | 571 | 528,626 | |
Biotechnology–0.31% | |||
Abcam PLC, ADR (United Kingdom)(d) | 11,342 | 265,857 | |
Alnylam Pharmaceuticals, Inc.(d) | 1,113 | 217,480 | |
Argenx SE, ADR (Netherlands)(d) | 1,242 | 626,564 | |
BeiGene Ltd., ADR (China)(d) | 3,593 | 769,692 | |
CSL Ltd. (Australia) | 3,999 | 720,916 | |
Exact Sciences Corp.(d) | 4,705 | 458,926 | |
Zai Lab Ltd., ADR (China)(d) | 9,077 | 272,855 | |
3,332,290 | |||
Brewers–0.12% | |||
Ambev S.A. (Brazil) | 422,402 | 1,327,390 | |
Broadline Retail–0.57% | |||
Alibaba Group Holding Ltd. (China)(d) | 14,700 | 187,239 | |
Amazon.com, Inc.(d) | 5,040 | 673,747 | |
Dollarama, Inc. (Canada) | 19,818 | 1,305,420 | |
JD.com, Inc., ADR (China) | 47,151 | 1,947,808 | |
Next PLC (United Kingdom) | 12,659 | 1,145,681 | |
PDD Holdings, Inc., ADR (China)(d) | 10,386 | 932,870 | |
6,192,765 | |||
Building Products–0.27% | |||
Assa Abloy AB, Class B (Sweden) | 44,137 | 1,059,906 | |
Daikin Industries Ltd. (Japan) | 5,900 | 1,192,239 | |
Owens Corning | 2,997 | 419,550 | |
Trane Technologies PLC | 1,254 | 250,098 | |
2,921,793 | |||
Cable & Satellite–0.03% | |||
Charter Communications, Inc., Class A(d) | 784 | 317,669 | |
Cargo Ground Transportation–0.11% | |||
Old Dominion Freight Line, Inc. | 1,674 | 702,226 |
See accompanying notes which are an integral part of this consolidated schedule.
Invesco Global Allocation Fund
Shares | Value | ||
Cargo Ground Transportation–(continued) | |||
Saia, Inc.(d) | 1,083 | $458,261 | |
1,160,487 | |||
Casinos & Gaming–0.28% | |||
DraftKings, Inc., Class A(d) | 14,284 | 453,946 | |
Entain PLC (United Kingdom) | 17,578 | 313,107 | |
Flutter Entertainment PLC (Ireland)(d) | 7,337 | 1,461,667 | |
Las Vegas Sands Corp.(d) | 13,249 | 792,423 | |
3,021,143 | |||
Commodity Chemicals–0.19% | |||
LG Chem Ltd. (South Korea) | 4,155 | 2,116,036 | |
Construction & Engineering–0.19% | |||
Comfort Systems USA, Inc. | 3,062 | 532,696 | |
Quanta Services, Inc. | 4,901 | 988,140 | |
WillScot Mobile Mini Holdings Corp.(d) | 10,917 | 523,470 | |
2,044,306 | |||
Construction Machinery & Heavy Transportation Equipment– 0.14% | |||
Epiroc AB, Class A (Sweden) | 77,167 | 1,533,616 | |
Construction Materials–0.14% | |||
Eagle Materials, Inc. | 1,743 | 321,357 | |
James Hardie Industries PLC, CDI (Australia)(d) | 26,273 | 768,367 | |
Vulcan Materials Co. | 1,739 | 383,449 | |
1,473,173 | |||
Consumer Staples Merchandise Retail–0.15% | |||
Wal-Mart de Mexico S.A.B. de C.V., Series V (Mexico) | 402,068 | 1,673,823 | |
Copper–0.03% | |||
Antofagasta PLC (Chile) | 4,593 | 98,793 | |
Freeport-McMoRan, Inc. | 5,554 | 247,986 | |
346,779 | |||
Distillers & Vintners–0.48% | |||
Davide Campari-Milano N.V. (Italy) | 104,774 | 1,410,320 | |
Pernod Ricard S.A. (France) | 17,281 | 3,806,390 | |
5,216,710 | |||
Diversified Banks–1.25% | |||
Banco Bradesco S.A., Preference Shares (Brazil) | 161,952 | 570,578 | |
Banco Santander Chile (Chile) | 10,835,386 | 578,485 | |
Credicorp Ltd. (Peru) | 4,891 | 768,132 | |
HDFC Bank Ltd. (India) | 264,256 | 5,308,224 | |
ICICI Bank Ltd., ADR (India) | 37,891 | 930,982 | |
Kotak Mahindra Bank Ltd. (India) | 183,235 | 4,135,454 | |
NU Holdings Ltd., Class A (Brazil)(d) | 95,446 | 759,750 | |
PT Bank Central Asia Tbk (Indonesia) | 914,300 | 553,204 | |
Sberbank of Russia PJSC (Russia)(e) | 11,951 | 0 | |
13,604,809 | |||
Diversified Financial Services–0.05% | |||
FirstRand Ltd. (South Africa) | 125,461 | 510,567 | |
Diversified Metals & Mining–0.35% | |||
Glencore PLC (Australia)(d) | 41,590 | 252,535 |
Shares | Value | ||
Diversified Metals & Mining–(continued) | |||
Grupo Mexico S.A.B. de C.V., Class B (Mexico) | 687,609 | $3,574,170 | |
3,826,705 | |||
Diversified Real Estate Activities–0.25% | |||
DLF Ltd. (India) | 431,694 | 2,722,217 | |
Electrical Components & Equipment–0.19% | |||
AMETEK, Inc. | 3,663 | 580,952 | |
Havells India Ltd. (India) | 18,713 | 303,515 | |
Rockwell Automation, Inc. | 1,265 | 425,407 | |
Schneider Electric SE (France) | 2,441 | 435,371 | |
WEG S.A. (Brazil) | 40,736 | 343,892 | |
2,089,137 | |||
Electronic Components–0.15% | |||
Murata Manufacturing Co. Ltd. (Japan) | 12,600 | 744,340 | |
Omron Corp. (Japan) | 2,600 | 139,669 | |
TDK Corp. (Japan) | 19,900 | 761,586 | |
1,645,595 | |||
Electronic Equipment & Instruments–0.27% | |||
Keyence Corp. (Japan) | 6,600 | 2,962,874 | |
Environmental & Facilities Services–0.14% | |||
Clean Harbors, Inc.(d) | 1,680 | 279,317 | |
Rentokil Initial PLC (United Kingdom) | 153,756 | 1,254,981 | |
1,534,298 | |||
Financial Exchanges & Data–0.56% | |||
B3 S.A. - Brasil, Bolsa, Balcao (Brazil) | 232,900 | 733,854 | |
Hong Kong Exchanges & Clearing Ltd. (Hong Kong) | 10,300 | 433,914 | |
London Stock Exchange Group PLC (United Kingdom) | 13,741 | 1,490,929 | |
MSCI, Inc. | 994 | 544,791 | |
S&P Global, Inc. | 7,323 | 2,888,997 | |
6,092,485 | |||
Food Retail–0.20% | |||
Alimentation Couche-Tard, Inc. (Canada) | 20,502 | 1,037,966 | |
HelloFresh SE (Germany)(d) | 10,684 | 304,312 | |
Kobe Bussan Co. Ltd. (Japan) | 21,700 | 578,172 | |
Ocado Group PLC (United Kingdom)(d) | 24,498 | 294,615 | |
2,215,065 | |||
Footwear–0.08% | |||
Arezzo Industria e Comercio S.A. (Brazil) | 7,041 | 122,692 | |
Deckers Outdoor Corp.(d) | 868 | 471,923 | |
On Holding AG, Class A (Switzerland)(d) | 8,369 | 301,284 | |
895,899 | |||
Health Care Equipment–0.65% | |||
Boston Scientific Corp.(d) | 3,943 | 204,445 | |
DexCom, Inc.(d) | 6,291 | 783,607 | |
IDEXX Laboratories, Inc.(d) | 2,103 | 1,166,597 | |
Inspire Medical Systems, Inc.(d) | 1,688 | 485,823 | |
Insulet Corp.(d) | 1,715 | 474,626 | |
Intuitive Surgical, Inc.(d) | 1,872 | 607,277 | |
Medtronic PLC | 3,990 | 350,162 |
See accompanying notes which are an integral part of this consolidated schedule.
Invesco Global Allocation Fund
Shares | Value | ||
Health Care Equipment–(continued) | |||
MicroTech Medical Hangzhou Co. Ltd., H Shares (China)(d)(f) | 14,500 | $9,578 | |
Penumbra, Inc.(d) | 1,424 | 431,985 | |
ResMed, Inc. | 7,629 | 1,696,308 | |
Shockwave Medical, Inc.(d) | 1,415 | 368,749 | |
Siemens Healthineers AG (Germany)(f) | 8,336 | 484,358 | |
7,063,515 | |||
Health Care Facilities–0.08% | |||
Encompass Health Corp. | 6,104 | 403,047 | |
Tenet Healthcare Corp.(d) | 6,244 | 466,614 | |
869,661 | |||
Health Care Services–0.07% | |||
Dr Lal PathLabs Ltd. (India)(f) | 16,789 | 474,935 | |
New Horizon Health Ltd. (China)(d)(f) | 75,000 | 254,774 | |
729,709 | |||
Health Care Supplies–0.29% | |||
Align Technology, Inc.(d) | 983 | 371,466 | |
ConvaTec Group PLC (United Kingdom)(f) | 148,524 | 397,422 | |
Cooper Cos., Inc. (The) | 1,007 | 393,999 | |
EssilorLuxottica S.A. (France) | 5,672 | 1,140,619 | |
Hoya Corp. (Japan) | 7,700 | 893,020 | |
3,196,526 | |||
Home Improvement Retail–0.02% | |||
Floor & Decor Holdings, Inc., Class A(d) | 2,349 | 269,783 | |
Homebuilding–0.13% | |||
D.R. Horton, Inc. | 7,330 | 931,056 | |
TopBuild Corp.(d) | 1,661 | 454,998 | |
1,386,054 | |||
Hotels, Resorts & Cruise Lines–0.62% | |||
Amadeus IT Group S.A. (Spain) | 29,466 | 2,114,885 | |
H World Group Ltd. (China)(d) | 4,900 | 23,448 | |
H World Group Ltd., ADR (China)(d) | 64,513 | 3,099,205 | |
Hilton Worldwide Holdings, Inc. | 1,169 | 181,768 | |
Marriott International, Inc., Class A | 2,520 | 508,561 | |
Trainline PLC (United Kingdom)(d)(f) | 248,555 | 840,066 | |
6,767,933 | |||
Human Resource & Employment Services–0.01% | |||
Benefit One, Inc. (Japan) | 15,000 | 155,175 | |
Industrial Conglomerates–0.18% | |||
Hitachi Ltd. (Japan) | 9,800 | 641,408 | |
Siemens AG (Germany) | 2,872 | 489,373 | |
SM Investments Corp. (Philippines) | 51,154 | 850,291 | |
1,981,072 | |||
Industrial Machinery & Supplies & Components–0.48% | |||
Aalberts N.V. (Netherlands) | 10,004 | 451,918 | |
Atlas Copco AB, Class A (Sweden) | 184,106 | 2,621,743 | |
Ingersoll Rand, Inc. | 8,259 | 539,065 | |
Lincoln Electric Holdings, Inc. | 2,222 | 445,977 | |
Parker-Hannifin Corp. | 1,382 | 566,634 | |
VAT Group AG (Switzerland)(f) | 1,348 | 573,131 | |
5,198,468 |
Shares | Value | ||
Insurance Brokers–0.03% | |||
Arthur J. Gallagher & Co. | 1,638 | $351,842 | |
Integrated Oil & Gas–0.16% | |||
Galp Energia SGPS S.A. (Portugal) | 42,048 | 559,651 | |
Novatek PJSC, GDR (Russia)(d)(e)(f) | 6,594 | 387,727 | |
TotalEnergies SE (France) | 13,905 | 844,650 | |
1,792,028 | |||
Interactive Home Entertainment–0.22% | |||
NetEase, Inc., ADR (China) | 22,468 | 2,443,170 | |
Interactive Media & Services–1.62% | |||
Alphabet, Inc., Class A(d) | 58,070 | 7,707,050 | |
Auto Trader Group PLC (United Kingdom)(f) | 83,351 | 691,414 | |
Kakao Corp. (South Korea) | 7,782 | 313,652 | |
Meta Platforms, Inc., Class A(d) | 15,043 | 4,792,700 | |
Rightmove PLC (United Kingdom) | 87,584 | 641,767 | |
Tencent Holdings Ltd. (China) | 74,317 | 3,410,992 | |
17,557,575 | |||
Internet Services & Infrastructure–0.11% | |||
MongoDB, Inc.(d) | 2,001 | 847,224 | |
Snowflake, Inc., Class A(d) | 2,158 | 383,498 | |
1,230,722 | |||
IT Consulting & Other Services–0.40% | |||
Capgemini SE (France) | 2,173 | 394,484 | |
EPAM Systems, Inc.(d) | 3,500 | 828,835 | |
Tata Consultancy Services Ltd. (India) | 74,781 | 3,111,870 | |
4,335,189 | |||
Life & Health Insurance–0.12% | |||
AIA Group Ltd. (Hong Kong) | 83,800 | 837,410 | |
Legal & General Group PLC (United Kingdom) | 162,173 | 485,559 | |
1,322,969 | |||
Life Sciences Tools & Services–0.66% | |||
Agilent Technologies, Inc. | 4,081 | 496,943 | |
Avantor, Inc.(d) | 12,495 | 257,022 | |
Bruker Corp. | 4,641 | 318,930 | |
Charles River Laboratories International, Inc.(d) | 1,005 | 210,588 | |
Danaher Corp. | 1,258 | 320,866 | |
ICON PLC(d) | 1,620 | 407,284 | |
Illumina, Inc.(d) | 2,122 | 407,742 | |
IQVIA Holdings, Inc.(d) | 2,899 | 648,680 | |
Lonza Group AG (Switzerland) | 1,703 | 988,426 | |
Samsung Biologics Co. Ltd. (South Korea)(d)(f) | 1,970 | 1,184,256 | |
Sartorius Stedim Biotech (France) | 2,469 | 771,539 | |
West Pharmaceutical Services, Inc. | 1,907 | 701,852 | |
Wuxi Biologics Cayman, Inc. (China)(d)(f) | 83,300 | 478,387 | |
7,192,515 | |||
Movies & Entertainment–0.16% | |||
CTS Eventim AG & Co. KGaA (Germany) | 11,661 | 795,470 | |
Liberty Media Corp.-Liberty Formula One, Class C(d) | 6,303 | 457,598 |
See accompanying notes which are an integral part of this consolidated schedule.
Invesco Global Allocation Fund
Shares | Value | ||
Movies & Entertainment–(continued) | |||
Universal Music Group N.V. (Netherlands) | 19,977 | $516,399 | |
1,769,467 | |||
Multi-line Insurance–0.02% | |||
Allianz SE (Germany) | 814 | 194,530 | |
Oil & Gas Equipment & Services–0.04% | |||
TechnipFMC PLC (United Kingdom)(d) | 21,498 | 394,273 | |
Oil & Gas Exploration & Production–0.04% | |||
Diamondback Energy, Inc. | 3,101 | 456,839 | |
Oil & Gas Refining & Marketing–0.16% | |||
Reliance Industries Ltd. (India) | 57,182 | 1,770,944 | |
Oil & Gas Storage & Transportation–0.03% | |||
Targa Resources Corp. | 3,864 | 316,809 | |
Other Specialty Retail–0.09% | |||
JD Sports Fashion PLC (United Kingdom) | 458,894 | 929,813 | |
Packaged Foods & Meats–0.07% | |||
Barry Callebaut AG (Switzerland) | 124 | 232,446 | |
Lamb Weston Holdings, Inc. | 4,983 | 516,388 | |
748,834 | |||
Personal Care Products–0.12% | |||
LG H&H Co. Ltd. (South Korea) | 538 | 180,676 | |
L’Oreal S.A. (France) | 2,420 | 1,124,663 | |
1,305,339 | |||
Pharmaceuticals–0.46% | |||
Daiichi Sankyo Co. Ltd. (Japan) | 15,700 | 485,616 | |
Novo Nordisk A/S, Class B (Denmark) | 26,655 | 4,299,226 | |
Phathom Pharmaceuticals, Inc.(d) | 12,862 | 195,631 | |
4,980,473 | |||
Property & Casualty Insurance–0.03% | |||
Kinsale Capital Group, Inc. | 785 | 292,515 | |
Rail Transportation–0.04% | |||
Canadian Pacific Kansas City Ltd. (Canada) | 5,044 | 415,071 | |
Real Estate Development–0.06% | |||
Oberoi Realty Ltd. (India) | 48,293 | 657,692 | |
Real Estate Operating Companies–0.00% | |||
Hongkong Land Holdings Ltd. (Hong Kong) | 1,400 | 4,985 | |
Real Estate Services–0.05% | |||
CoStar Group, Inc.(d) | 6,063 | 509,110 | |
Reinsurance–0.03% | |||
Everest Group Ltd. | 1,029 | 370,965 | |
Research & Consulting Services–0.19% | |||
Equifax, Inc. | 5,244 | 1,070,195 | |
Experian PLC | 11,134 | 429,752 | |
KBR, Inc. | 6,140 | 377,549 |
Shares | Value | ||
Research & Consulting Services–(continued) | |||
Nihon M&A Center Holdings, Inc. (Japan) | 40,000 | $229,135 | |
2,106,631 | |||
Restaurants–0.75% | |||
Chipotle Mexican Grill, Inc.(d) | 415 | 814,346 | |
Compass Group PLC (United Kingdom) | 59,313 | 1,542,730 | |
Meituan, B Shares (China)(d)(f) | 49,321 | 938,335 | |
Yum China Holdings, Inc. (China) | 73,049 | 4,457,450 | |
Yum! Brands, Inc. | 2,841 | 391,121 | |
8,143,982 | |||
Semiconductor Materials & Equipment–0.38% | |||
AIXTRON SE (Germany) | 17,046 | 676,962 | |
ASM International N.V. (Netherlands) | 935 | 443,992 | |
ASML Holding N.V. (Netherlands) | 3,369 | 2,411,834 | |
Entegris, Inc. | 4,495 | 493,146 | |
Lam Research Corp. | 208 | 149,446 | |
4,175,380 | |||
Semiconductors–1.40% | |||
Analog Devices, Inc. | 16,674 | 3,326,963 | |
First Solar, Inc.(d) | 2,057 | 426,622 | |
GLOBALFOUNDRIES, Inc.(d) | 6,360 | 405,068 | |
Lattice Semiconductor Corp.(d) | 6,911 | 628,486 | |
Marvell Technology, Inc. | 16,792 | 1,093,663 | |
MediaTek, Inc. (Taiwan) | 3,000 | 65,868 | |
Monolithic Power Systems, Inc. | 1,390 | 777,691 | |
NVIDIA Corp. | 1,781 | 832,243 | |
ON Semiconductor Corp.(d) | 2,558 | 275,625 | |
Silergy Corp. (China) | 8,000 | 84,327 | |
Silicon Laboratories, Inc.(d) | 1,725 | 257,267 | |
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 388,000 | 6,987,493 | |
15,161,316 | |||
Soft Drinks & Non-alcoholic Beverages–0.23% | |||
Britvic PLC (United Kingdom) | 46,130 | 511,366 | |
Celsius Holdings, Inc.(d) | 2,613 | 378,101 | |
Fomento Economico Mexicano S.A.B. de C.V., Series CPO (Mexico) | 122,501 | 1,388,369 | |
Monster Beverage Corp.(d) | 3,593 | 206,562 | |
2,484,398 | |||
Specialized Finance–0.02% | |||
Jio Financial Services Ltd. (India)(d) | 57,182 | 182,047 | |
Specialty Chemicals–0.14% | |||
Ecolab, Inc. | 1,231 | 225,445 | |
Sika AG (Switzerland) | 3,991 | 1,241,248 | |
1,466,693 | |||
Steel–0.06% | |||
Vale S.A., ADR (Brazil) | 40,801 | 596,919 | |
Systems Software–0.23% | |||
Gitlab, Inc., Class A(d) | 5,036 | 249,937 | |
Microsoft Corp. | 3,393 | 1,139,776 | |
Monday.com Ltd.(d) | 1,496 | 270,447 | |
Palo Alto Networks, Inc.(d) | 3,171 | 792,623 | |
2,452,783 |
See accompanying notes which are an integral part of this consolidated schedule.
Invesco Global Allocation Fund
Shares | Value | ||
Technology Hardware, Storage & Peripherals–0.16% | |||
Samsung Electronics Co. Ltd. (South Korea) | 30,822 | $1,689,397 | |
Trading Companies & Distributors–0.30% | |||
Ashtead Group PLC (United Kingdom) | 7,584 | 560,504 | |
Ferguson PLC | 6,480 | 1,040,193 | |
RS GROUP PLC (United Kingdom) | 45,896 | 461,730 | |
United Rentals, Inc. | 734 | 341,075 | |
W.W. Grainger, Inc. | 1,091 | 805,693 | |
3,209,195 | |||
Transaction & Payment Processing Services–0.34% | |||
Adyen N.V. (Netherlands)(d)(f) | 343 | 637,128 | |
Edenred (France) | 14,659 | 951,694 | |
Fidelity National Information Services, Inc. | 3,069 | 185,306 | |
FleetCor Technologies, Inc.(d) | 2,129 | 529,929 | |
Visa, Inc., Class A | 5,772 | 1,372,178 | |
3,676,235 | |||
Wireless Telecommunication Services–0.12% | |||
America Movil S.A.B. de C.V., ADR (Mexico) | 60,028 | 1,255,786 | |
Total Common Stocks & Other Equity Interests (Cost $197,682,463) | 236,434,391 | ||
Principal Amount | |||
U.S. Treasury Securities–20.29% | |||
U.S. Treasury Notes–20.29% | |||
3.88%, 12/31/2027 | $23,390,000 | 23,037,779 | |
3.88%, 12/31/2029 | 68,550,000 | 67,606,099 | |
1.88%, 02/15/2032(g) | 152,780,000 | 129,779,448 | |
Total U.S. Treasury Securities (Cost $235,810,078) | 220,423,326 | ||
Shares | |||
Preferred Stocks–0.09% | |||
Diversified Banks–0.01% | |||
Socium Re Ltd., Series 2019-1, Pfd.(e) | 264,345 | 145,975 | |
Diversified Support Services–0.08% | |||
Harambee Re Ltd., Pfd.(e) | 223 | 22,703 | |
Kinesis Reinsurance I Ltd., Series 2019-1, Pfd.(e) | 116,394 | 30,509 | |
Mt. Logan Re Ltd., Pfd.(e) | 759 | 684,884 | |
Thopas Re Ltd., Pfd.(e) | 73 | 4,402 | |
Turing Re Ltd., Series 2019-1, Pfd.(e)(f) | 13,286 | 42,643 |
Shares | Value | ||
Diversified Support Services–(continued) | |||
Viribus Re Ltd., Pfd.(e) | 399,749 | $37,032 | |
822,173 | |||
Total Preferred Stocks (Cost $3,955,256) | 968,148 | ||
Principal Amount | |||
Event-Linked Bonds–0.06% | |||
Diversified Financial Services–0.06% | |||
Limestone Re Ltd. (Multinational), Class A, Catastrophe Linked Notes, 0.00%, 12/31/2024(e)(f)(h) | $15,620 | 20,929 | |
Sector Re V Ltd. (Multinational), Series 2019-1, Class A, Catastrophe Linked Notes, 0.00%, 03/01/2024(e)(f)(h) | 1,228,541 | 681,470 | |
Total Event-Linked Bonds (Cost $1,244,162) | 702,399 | ||
Shares | |||
Money Market Funds–4.04% | |||
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(b)(i) | 15,360,664 | 15,360,664 | |
Invesco Liquid Assets Portfolio, Institutional Class, 5.28%(b)(i) | 10,968,605 | 10,969,702 | |
Invesco Treasury Portfolio, Institutional Class, 5.18%(b)(i) | 17,555,044 | 17,555,044 | |
Total Money Market Funds (Cost $43,885,666) | 43,885,410 | ||
TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-98.28% (Cost $937,348,731) | 1,067,830,808 | ||
Investments Purchased with Cash Collateral from Securities on Loan | |||
Money Market Funds–6.90% | |||
Invesco Private Government Fund, 5.24%(b)(i)(j) | 20,998,524 | 20,998,524 | |
Invesco Private Prime Fund, 5.38%(b)(i)(j) | 53,996,205 | 53,996,205 | |
Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $74,991,487) | 74,994,729 | ||
TOTAL INVESTMENTS IN SECURITIES–105.18% (Cost $1,012,340,218) | 1,142,825,537 | ||
OTHER ASSETS LESS LIABILITIES—(5.18)% | (56,314,583) | ||
NET ASSETS–100.00% | $1,086,510,954 |
Investment Abbreviations:
ADR | – American Depositary Receipt |
CDI | – CREST Depository Interest |
CPO | – Certificates of Ordinary Participation |
ETF | – Exchange-Traded Fund |
GDR | – Global Depositary Receipt |
Pfd. | – Preferred |
Wts. | – Warrants |
See accompanying notes which are an integral part of this consolidated schedule.
Invesco Global Allocation Fund
Notes to Consolidated 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) | Affiliated issuer. The issuer is affiliated by having an investment adviser that is under common control of Invesco Ltd. and/or is an "affiliated person" under the Investment Company Act of 1940, as amended (the “1940 Act”), which defines “affiliated person” to include an issuer of which a fund holds 5% or more of the outstanding voting securities. For the Investments in Other Affiliates below, the Fund has not owned enough of the outstanding voting securities of the issuer to have control (as defined in the 1940 Act) of that issuer. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended July 31, 2023. |
Value October 31, 2022 | Purchases at Cost | Proceeds from Sales | Change in Unrealized Appreciation (Depreciation) | Realized Gain (Loss) | Value July 31, 2023 | Dividend Income | |
Invesco BulletShares 2023 Corporate Bond ETF | $136,622,570 | $- | $(137,073,790) | $261,980 | $189,240 | $- | $63,124 |
Invesco BulletShares 2025 Corporate Bond ETF | - | 137,045,944 | (137,181,278) | - | 135,334 | - | 1,549,458 |
Invesco Emerging Markets Sovereign Debt ETF | - | 64,605,416 | (32,341,880) | 833,000 | 750,464 | 33,847,000 | 873,638 |
Invesco High Yield Bond Factor ETF | 22,644,420 | - | (107,729) | 898,589 | - | 23,435,280 | 1,200,676 |
Invesco International Developed Dynamic Multifactor ETF | 91,450,714 | 20,568,491 | - | 32,962,454 | - | 144,981,659 | 2,434,048 |
Invesco Russell 1000® Dynamic Multifactor ETF | 207,235,310 | - | (10,526,566) | 31,407,676 | 3,978,696 | 232,095,116 | 2,658,223 |
Invesco Russell 2000® Dynamic Multifactor ETF | 56,866,274 | - | - | 4,580,805 | - | 61,447,079 | 658,045 |
Investments in Affiliated Money Market Funds: | |||||||
Invesco Government & Agency Portfolio, Institutional Class | 5,265,568 | 94,106,321 | (84,011,226) | 1 | - | 15,360,664 | 458,596 |
Invesco Liquid Assets Portfolio, Institutional Class | 3,771,624 | 67,218,801 | (60,018,491) | (353) | (1,879) | 10,969,702 | 338,787 |
Invesco Treasury Portfolio, Institutional Class | 6,017,793 | 107,550,081 | (96,012,830) | - | - | 17,555,044 | 523,206 |
Investments Purchased with Cash Collateral from Securities on Loan: | |||||||
Invesco Private Government Fund | 4,044,769 | 198,690,723 | (181,736,968) | - | - | 20,998,524 | 219,881* |
Invesco Private Prime Fund | 10,398,787 | 398,805,294 | (355,218,139) | 2,670 | 7,593 | 53,996,205 | 616,411* |
Investments in Other Affiliates: | |||||||
Lion Rock Re Ltd., Series S, Pfd. | 23,596 | - | - | 13,904 | (37,500) | - | - |
Total | $544,341,425 | $1,088,591,071 | $(1,094,228,897) | $70,960,726 | $5,021,948 | $614,686,273 | $11,594,093 |
* | 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. |
(c) | All or a portion of this security was out on loan at July 31, 2023. |
(d) | Non-income producing security. |
(e) | Security valued using significant unobservable inputs (Level 3). See Note 1. |
(f) | 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 July 31, 2023 was $8,096,553, which represented less than 1% of the Fund’s Net Assets. |
(g) | All or a portion of the value was pledged as collateral to cover margin requirements for open futures contracts. |
(h) | Zero coupon bond issued at a discount. |
(i) | The rate shown is the 7-day SEC standardized yield as of July 31, 2023. |
(j) | 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 | |||||
Long Futures Contracts | Number of Contracts | Expiration Month | Notional Value | Value | Unrealized Appreciation (Depreciation) |
Equity Risk | |||||
E-Mini S&P 500 Index | 720 | September-2023 | $166,122,000 | $9,336,764 | $9,336,764 |
MSCI Emerging Markets Index | 799 | September-2023 | 42,119,285 | 2,412,980 | 2,412,980 |
Subtotal | 11,749,744 | 11,749,744 |
See accompanying notes which are an integral part of this consolidated schedule.
Invesco Global Allocation Fund
Open Futures Contracts—(continued) | |||||
Long Futures Contracts | Number of Contracts | Expiration Month | Notional Value | Value | Unrealized Appreciation (Depreciation) |
Interest Rate Risk | |||||
U.S. Treasury 5 Year Notes | 986 | September-2023 | $105,324,828 | $(2,210,796) | $(2,210,796) |
U.S. Treasury 10 Year Notes | 375 | September-2023 | 41,777,344 | (1,004,883) | (1,004,883) |
Subtotal | (3,215,679) | (3,215,679) | |||
Subtotal—Long Futures Contracts | 8,534,065 | 8,534,065 | |||
Short Futures Contracts | |||||
Equity Risk | |||||
E-Mini Russell 2000 Index | 613 | September-2023 | (61,716,840) | (3,890,803) | (3,890,803) |
Nikkei 225 Index | 9 | September-2023 | (2,104,101) | (75,311) | (75,311) |
S&P/TSX 60 Index | 6 | September-2023 | (1,128,427) | (37,407) | (37,407) |
SPI 200 Index | 9 | September-2023 | (1,112,033) | (45,573) | (45,573) |
STOXX Europe 600 Index | 1,549 | September-2023 | (40,261,901) | (852,295) | (852,295) |
Subtotal—Short Futures Contracts | (4,901,389) | (4,901,389) | |||
Total Futures Contracts | $3,632,676 | $3,632,676 |
Open Forward Foreign Currency Contracts | ||||||
Settlement Date | Counterparty | Contract to | Unrealized Appreciation (Depreciation) | |||
Deliver | Receive | |||||
Currency Risk | ||||||
09/20/2023 | BNP Paribas S.A. | INR | 62,557,453 | USD | 760,008 | $406 |
09/20/2023 | BNP Paribas S.A. | JPY | 504,820,000 | USD | 3,668,683 | 93,085 |
09/05/2023 | Citibank, N.A. | USD | 17,132,764 | BRL | 88,268,000 | 1,422,043 |
09/20/2023 | Citibank, N.A. | USD | 13,797,452 | NOK | 148,530,000 | 880,487 |
09/20/2023 | Citibank, N.A. | USD | 440,817 | PEN | 1,620,000 | 7,107 |
09/20/2023 | Citibank, N.A. | USD | 12,563,714 | SEK | 135,125,000 | 303,388 |
09/20/2023 | Citibank, N.A. | USD | 18,292,926 | ZAR | 339,160,000 | 587,747 |
09/20/2023 | Goldman Sachs International | KRW | 23,579,100,000 | USD | 18,595,505 | 91,111 |
09/20/2023 | Goldman Sachs International | USD | 1,641,807 | MYR | 7,540,000 | 36,089 |
09/20/2023 | J.P. Morgan Chase Bank, N.A. | AUD | 31,320,000 | USD | 21,181,212 | 108,432 |
09/20/2023 | J.P. Morgan Chase Bank, N.A. | CLP | 413,000,000 | USD | 506,811 | 17,081 |
09/20/2023 | J.P. Morgan Chase Bank, N.A. | USD | 356,612 | GBP | 285,000 | 9,219 |
09/20/2023 | Merrill Lynch International | INR | 475,482,547 | USD | 5,802,282 | 28,748 |
09/20/2023 | Merrill Lynch International | USD | 16,309,383 | SGD | 21,810,000 | 130,247 |
09/20/2023 | Morgan Stanley and Co. International PLC | USD | 15,113,070 | COP | 64,798,800,000 | 1,186,578 |
09/20/2023 | Morgan Stanley and Co. International PLC | USD | 68,483 | HKD | 535,000 | 142 |
09/20/2023 | Standard Chartered Bank PLC | USD | 15,558,976 | PLN | 64,570,000 | 521,725 |
09/20/2023 | UBS AG | ILS | 5,030,000 | USD | 1,402,873 | 32,274 |
Subtotal—Appreciation | 5,455,909 | |||||
Currency Risk | ||||||
09/20/2023 | BNP Paribas S.A. | CZK | 326,430,000 | USD | 14,712,105 | (282,107) |
09/20/2023 | BNP Paribas S.A. | DKK | 65,685,000 | USD | 9,545,674 | (174,354) |
09/20/2023 | BNP Paribas S.A. | NZD | 23,375,000 | USD | 14,295,150 | (223,980) |
09/20/2023 | Citibank, N.A. | THB | 436,000,000 | USD | 12,720,642 | (75,182) |
09/20/2023 | Citibank, N.A. | USD | 6,969,013 | TWD | 212,465,000 | (194,965) |
09/20/2023 | J.P. Morgan Chase Bank, N.A. | CHF | 19,170,000 | USD | 21,331,053 | (765,071) |
09/20/2023 | J.P. Morgan Chase Bank, N.A. | EUR | 15,650,000 | USD | 16,910,695 | (337,472) |
09/20/2023 | J.P. Morgan Chase Bank, N.A. | USD | 1,368,682 | IDR | 20,392,000,000 | (19,203) |
09/20/2023 | Merrill Lynch International | CAD | 10,655,000 | USD | 7,992,392 | (93,237) |
09/20/2023 | Merrill Lynch International | CNY | 39,230,000 | USD | 5,514,401 | (7,885) |
See accompanying notes which are an integral part of this consolidated schedule.
Invesco Global Allocation Fund
Open Forward Foreign Currency Contracts—(continued) | ||||||
Settlement Date | Counterparty | Contract to | Unrealized Appreciation (Depreciation) | |||
Deliver | Receive | |||||
09/05/2023 | Morgan Stanley and Co. International PLC | BRL | 12,730,000 | USD | 2,451,660 | $(224,312) |
09/20/2023 | Morgan Stanley and Co. International PLC | PHP | 841,900,000 | USD | 14,967,377 | (405,159) |
09/20/2023 | Morgan Stanley and Co. International PLC | USD | 14,739,395 | HUF | 5,163,210,000 | (235,968) |
09/20/2023 | Standard Chartered Bank PLC | MXN | 81,505,000 | USD | 4,626,307 | (198,282) |
Subtotal—Depreciation | (3,237,177) | |||||
Total Forward Foreign Currency Contracts | $2,218,732 |
Open Over-The-Counter Total Return Swap Agreements(a)(b) | |||||||||||
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 | |||||||||||
Goldman Sachs International | Receive | MSCI AC World Daily Total Return Net Index | SOFR + 0.08% | Quarterly | 389,000 | May—2024 | USD | 106,395,390 | $— | $4,654,773 | $4,654,773 |
J.P. Morgan Chase Bank, N.A. | Pay | Russell Midcap Growth Total Return Index | SOFR + 0.22% | Monthly | 11,200 | September—2023 | USD | 54,935,518 | — | 157,257 | 157,257 |
Subtotal — Appreciation | — | 4,812,030 | 4,812,030 | ||||||||
Equity Risk | |||||||||||
Goldman Sachs International | Pay | MSCI ACWI USA Growth Net Total Return Index | SOFR - 0.24% | Quarterly | 399,000 | May—2024 | USD | 107,321,025 | — | (3,341,625) | (3,341,625) |
Total — Total Return Swap Agreements | $— | $1,470,405 | $1,470,405 |
(a) | Open Over-The-Counter Total Return Swap Agreements are collateralized by cash held with the swap Counterparties in the amount of $1,020,000. |
(b) | The Fund receives or pays payments based on any positive or negative return on the Reference Entity, respectively. |
See accompanying notes which are an integral part of this consolidated schedule.
Invesco Global Allocation Fund
Abbreviations: | |
AUD | —Australian Dollar |
BRL | —Brazilian Real |
CAD | —Canadian Dollar |
CHF | —Swiss Franc |
CLP | —Chile Peso |
CNY | —Chinese Yuan Renminbi |
COP | —Colombia Peso |
CZK | —Czech Koruna |
DKK | —Danish Krone |
EUR | —Euro |
GBP | —British Pound Sterling |
HKD | —Hong Kong Dollar |
HUF | —Hungarian Forint |
IDR | —Indonesian Rupiah |
ILS | —Israel Shekel |
INR | —Indian Rupee |
JPY | —Japanese Yen |
KRW | —South Korean Won |
MXN | —Mexican Peso |
MYR | —Malaysian Ringgit |
NOK | —Norwegian Krone |
NZD | —New Zealand Dollar |
PEN | —Peruvian Sol |
PHP | —Philippines Peso |
PLN | —Polish Zloty |
SEK | —Swedish Krona |
SGD | —Singapore Dollar |
SOFR | —Secured Overnight Financing Rate |
THB | —Thai Baht |
TWD | —New Taiwan Dollar |
USD | —U.S. Dollar |
ZAR | —South African Rand |
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 consolidated schedule.
Invesco Global Allocation Fund
Notes to Quarterly Consolidated Schedule of Portfolio Holdings
July 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 July 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 consolidated 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 | ||||
Exchange-Traded Funds | $565,417,134 | $— | $— | $565,417,134 |
Common Stocks & Other Equity Interests | 118,054,985 | 117,991,679 | 387,727 | 236,434,391 |
U.S. Treasury Securities | — | 220,423,326 | — | 220,423,326 |
Preferred Stocks | — | — | 968,148 | 968,148 |
Event-Linked Bonds | — | — | 702,399 | 702,399 |
Money Market Funds | 43,885,410 | 74,994,729 | — | 118,880,139 |
Total Investments in Securities | 727,357,529 | 413,409,734 | 2,058,274 | 1,142,825,537 |
Other Investments - Assets* | ||||
Futures Contracts | 11,749,744 | — | — | 11,749,744 |
Forward Foreign Currency Contracts | — | 5,455,909 | — | 5,455,909 |
Swap Agreements | — | 4,812,030 | — | 4,812,030 |
11,749,744 | 10,267,939 | — | 22,017,683 | |
Other Investments - Liabilities* | ||||
Futures Contracts | (8,117,068) | — | — | (8,117,068) |
Forward Foreign Currency Contracts | — | (3,237,177) | — | (3,237,177) |
Swap Agreements | — | (3,341,625) | — | (3,341,625) |
(8,117,068) | (6,578,802) | — | (14,695,870) | |
Total Other Investments | 3,632,676 | 3,689,137 | — | 7,321,813 |
Total Investments | $730,990,205 | $417,098,871 | $2,058,274 | $1,150,147,350 |
* | Forward foreign currency contracts, futures contracts and swap agreements are valued at unrealized appreciation (depreciation). |
Invesco Global Allocation Fund