Schedule of Investments
July 31, 2023
(Unaudited)
Shares | Value | ||
Common Stocks & Other Equity Interests–94.33% | |||
Belgium–0.57% | |||
Biocartis Group N.V.(a)(b)(c) | 6,982,992 | $2,625,801 | |
Materialise N.V., ADR(a)(c) | 2,900,000 | 23,142,000 | |
25,767,801 | |||
Denmark–2.79% | |||
Atlantic Sapphire ASA(c) | 6,169,427 | 3,751,778 | |
Bavarian Nordic A/S(c) | 2,560,000 | 54,945,686 | |
Genmab A/S(c) | 100,000 | 41,240,519 | |
Novozymes A/S, Class B | 500,000 | 25,045,690 | |
124,983,673 | |||
France–1.03% | |||
Mersen S.A. | 983,743 | 46,299,695 | |
Vantiva S.A.(c) | 570,324 | 120,247 | |
46,419,942 | |||
Germany–5.73% | |||
AIXTRON SE | 3,660,000 | 145,352,685 | |
Basler AG(a) | 1,584,283 | 25,991,288 | |
Carl Zeiss Meditec AG, BR | 200,000 | 23,163,044 | |
Manz AG(a)(c) | 466,570 | 8,667,013 | |
PVA TePla AG(a)(c) | 2,282,096 | 53,739,228 | |
256,913,258 | |||
Ireland–1.21% | |||
Ads-Tec Energy PLC(c) | 2,319,856 | 14,383,107 | |
Flutter Entertainment PLC(c) | 200,000 | 39,843,736 | |
54,226,843 | |||
Italy–1.69% | |||
Brunello Cucinelli S.p.A. | 894,764 | 75,728,108 | |
Japan–14.87% | |||
Comture Corp.(a) | 2,500,000 | 35,568,094 | |
CyberAgent, Inc. | 5,200,000 | 32,808,964 | |
Disco Corp. | 524,000 | 98,426,612 | |
Jeol Ltd. | 2,160,000 | 74,078,296 | |
M3, Inc. | 2,560,000 | 59,433,148 | |
Mercari, Inc.(c) | 1,000,000 | 25,290,700 | |
Nidec Corp. | 600,000 | 35,617,786 | |
Nikon Corp. | 2,000,000 | 26,419,550 | |
Optex Group Co. Ltd.(a) | 1,387,800 | 18,212,969 | |
PeptiDream, Inc.(c) | 4,000,000 | 50,931,085 | |
Rheon Automatic Machinery Co. Ltd. | 330,700 | 3,380,341 | |
SHIFT, Inc.(c) | 550,000 | 130,280,590 | |
Yaskawa Electric Corp. | 1,760,000 | 76,525,546 | |
666,973,681 | |||
Norway–3.21% | |||
Mowi ASA | 4,000,000 | 70,329,030 | |
Nordic Semiconductor ASA(c) | 4,999,999 | 73,639,575 | |
143,968,605 | |||
Sweden–6.25% | |||
AddTech AB, Class B | 2,500,000 | 46,410,878 | |
Beijer Ref AB | 3,350,000 | 45,390,607 |
Shares | Value | ||
Sweden–(continued) | |||
Boozt AB(a)(b)(c) | 3,750,000 | $44,704,977 | |
Indutrade AB | 2,691,106 | 56,422,757 | |
Midsona AB, Class B(c) | 1,708,521 | 1,208,752 | |
RaySearch Laboratories AB(a)(c) | 4,000,000 | 27,100,015 | |
Surgical Science Sweden AB(c) | 1,000,000 | 23,310,306 | |
Tobii AB(c) | 3,000,000 | 5,518,610 | |
Xvivo Perfusion AB(c) | 1,000,000 | 30,247,663 | |
280,314,565 | |||
Switzerland–0.10% | |||
GeNeuro S.A.(a)(c) | 2,457,241 | 4,570,332 | |
United Kingdom–15.91% | |||
ASOS PLC(c) | 700,000 | 3,773,699 | |
Aston Martin Lagonda Global Holdings PLC(b)(c) | 68,894,357 | 350,056,817 | |
boohoo Group PLC(c) | 30,000,000 | 14,983,888 | |
FD Technologies PLC(c) | 1,200,000 | 27,560,666 | |
Fevertree Drinks PLC | 2,000,000 | 34,423,983 | |
Frontier Developments PLC(a)(c) | 2,243,918 | 16,895,027 | |
Future PLC | 1,000,000 | 10,755,924 | |
Gooch & Housego PLC(a) | 1,479,236 | 10,901,846 | |
IP Group PLC | 14,546,226 | 11,155,222 | |
IQE PLC(a)(c) | 142,917,198 | 36,274,998 | |
M&C Saatchi PLC | 5,230,352 | 8,920,162 | |
Oxford Nanopore Technologies PLC(c) | 31,476,911 | 106,692,053 | |
Spirax-Sarco Engineering PLC | 200,000 | 28,572,257 | |
WANdisco PLC(a)(c) | 10,594,145 | 16,315,188 | |
Xaar PLC(a)(c) | 6,000,000 | 14,628,774 | |
Zoo Digital Group PLC(a)(c) | 6,320,647 | 5,758,619 | |
Zotefoams PLC(a) | 3,200,000 | 16,337,083 | |
714,006,206 | |||
United States–40.97% | |||
3D Systems Corp.(c) | 5,000,000 | 43,550,000 | |
Advanced Micro Devices, Inc.(c) | 3,000,000 | 343,200,000 | |
Align Technology, Inc.(c) | 100,000 | 37,789,000 | |
Arrowhead Pharmaceuticals, Inc.(c) | 2,000,000 | 69,040,000 | |
Cognex Corp. | 1,200,000 | 65,544,000 | |
Coherent Corp.(c) | 1,000,000 | 47,360,000 | |
Exact Sciences Corp.(c) | 1,800,000 | 175,572,000 | |
Globant S.A.(c) | 200,000 | 34,946,000 | |
Impinj, Inc.(c) | 400,000 | 26,648,000 | |
IPG Photonics Corp.(c) | 600,000 | 78,870,000 | |
Ivanhoe Electric, Inc.(c) | 2,000,000 | 32,520,000 | |
Littelfuse, Inc. | 200,000 | 60,920,000 | |
Manhattan Associates, Inc.(c) | 600,000 | 114,372,000 | |
Nevro Corp.(c) | 1,000,000 | 24,990,000 | |
ON Semiconductor Corp.(c) | 500,000 | 53,875,000 | |
PDF Solutions, Inc.(a)(c) | 3,000,000 | 137,970,000 | |
PTC, Inc.(c) | 1,000,000 | 145,810,000 | |
QUALCOMM, Inc. | 500,000 | 66,085,000 | |
Shake Shack, Inc., Class A(c) | 1,000,000 | 77,660,000 | |
Veeco Instruments, Inc.(a)(c) | 3,000,000 | 84,480,000 | |
Vicor Corp.(c) | 500,000 | 46,135,000 | |
Wolfspeed, Inc.(c) | 1,000,000 | 65,900,000 |
See accompanying notes which are an integral part of this schedule.
Invesco Global Opportunities Fund
Shares | Value | ||
United States–(continued) | |||
Xeris Biopharma Holdings, Inc.(c) | 2,000,000 | $5,220,000 | |
1,838,456,000 | |||
Total Common Stocks & Other Equity Interests (Cost $3,159,232,056) | 4,232,329,014 | ||
Money Market Funds–5.41% | |||
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(a)(d) | 84,923,999 | 84,923,999 | |
Invesco Liquid Assets Portfolio, Institutional Class, 5.28%(a)(d) | 60,644,846 | 60,650,910 |
Shares | Value | ||
Money Market Funds–(continued) | |||
Invesco Treasury Portfolio, Institutional Class, 5.18%(a)(d) | 97,055,998 | $97,055,998 | |
Total Money Market Funds (Cost $242,634,910) | 242,630,907 | ||
TOTAL INVESTMENTS IN SECURITIES—99.74% (Cost $3,401,866,966) | 4,474,959,921 | ||
OTHER ASSETS LESS LIABILITIES–0.26% | 11,773,428 | ||
NET ASSETS–100.00% | $4,486,733,349 |
Investment Abbreviations:
ADR | – American Depositary Receipt |
BR | – Bearer Shares |
Notes to Schedule of Investments:
(a) | 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 | |
Investments in Affiliated Money Market Funds: | |||||||
Invesco Government & Agency Portfolio, Institutional Class | $81,100,213 | $244,802,304 | $(240,978,518) | $- | $- | $84,923,999 | $1,915,937 |
Invesco Liquid Assets Portfolio, Institutional Class | 51,103,361 | 174,858,789 | (165,304,124) | (15,575) | 8,459 | 60,650,910 | 1,377,568 |
Invesco Treasury Portfolio, Institutional Class | 92,685,957 | 279,774,062 | (275,404,021) | - | - | 97,055,998 | 2,185,434 |
Investments in Other Affiliates: | |||||||
Aumann Ag | 11,861,710 | - | (14,054,034) | 47,558,191 | (45,365,867) | - | - |
Basler AG | 48,931,519 | - | (4,487,395) | (16,750,919) | (1,701,917) | 25,991,288 | 224,145 |
Biocartis Group N.V. | 7,106,383 | 7,330,294 | (998,113) | 22,169,205 | (32,981,968) | 2,625,801 | - |
Boozt AB | 27,374,742 | - | - | 17,330,235 | - | 44,704,977 | - |
Comture Corp. | 48,775,634 | - | (7,177,096) | (3,158,807) | (2,871,637) | 35,568,094 | 645,550 |
Frontier Developments PLC | 45,619,685 | - | (5,322,021) | (11,133,044) | (12,269,593) | 16,895,027 | - |
GeNeuro S.A. | 4,128,332 | - | - | 442,000 | - | 4,570,332 | - |
Gooch & Housego PLC | 11,009,275 | - | (4,031,912) | 12,288,811 | (8,364,328) | 10,901,846 | 310,126 |
IQE PLC | 67,203,506 | 2,879,532 | (2,267,235) | (15,441,781) | (16,099,024) | 36,274,998 | - |
Manz AG | 13,121,717 | - | (705,860) | (3,009,461) | (739,383) | 8,667,013 | - |
Materialise N.V., ADR* | 30,711,000 | - | - | (7,569,000) | - | 23,142,000 | - |
Nektar Therapeutics | 134,495,200 | - | (20,931,278) | 508,216,066 | (621,779,988) | - | - |
Optex Group Co. Ltd.* | 27,540,836 | - | (8,405,619) | 8,522,052 | (9,444,300) | 18,212,969 | 458,495 |
PDF Solutions, Inc. | 70,740,000 | - | - | 67,230,000 | - | 137,970,000 | - |
PVA TePla AG | 48,529,344 | - | (12,554,843) | 21,838,255 | (4,073,528) | 53,739,228 | - |
RaySearch Laboratories AB | 20,788,083 | - | - | 6,311,932 | - | 27,100,015 | - |
Rovio Entertainment OYJ | 26,803,800 | - | (41,712,223) | 13,773,790 | 1,134,633 | - | - |
Veeco Instruments, Inc. | 54,690,000 | - | - | 29,790,000 | - | 84,480,000 | - |
WANdisco PLC | 25,109,582 | 3,556,476 | - | (12,350,870) | - | 16,315,188 | - |
Xaar PLC | 11,672,694 | - | - | 2,956,080 | - | 14,628,774 | - |
Zoo Digital Group PLC | 13,245,534 | - | (1,044,404) | (6,512,916) | 70,405 | 5,758,619 | - |
Zotefoams PLC | 13,509,174 | - | (3,590,255) | 7,460,904 | (1,042,740) | 16,337,083 | 232,756 |
Total | $987,857,281 | $713,201,457 | $(808,968,951) | $689,945,148 | $(755,520,776) | $826,514,159 | $7,350,011 |
* | At July 31, 2023, this security was was no longer an affiliate of the Fund. |
See accompanying notes which are an integral part of this schedule.
Invesco Global Opportunities Fund
(b) | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at July 31, 2023 was $397,387,595, which represented 8.86% of the Fund’s Net Assets. |
(c) | Non-income producing security. |
(d) | The rate shown is the 7-day SEC standardized yield as of July 31, 2023. |
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 Global Opportunities Fund
Notes to Quarterly 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 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 | ||||
Belgium | $23,142,000 | $2,625,801 | $— | $25,767,801 |
Denmark | — | 124,983,673 | — | 124,983,673 |
France | — | 46,419,942 | — | 46,419,942 |
Germany | — | 256,913,258 | — | 256,913,258 |
Ireland | 14,383,107 | 39,843,736 | — | 54,226,843 |
Italy | — | 75,728,108 | — | 75,728,108 |
Japan | — | 666,973,681 | — | 666,973,681 |
Norway | — | 143,968,605 | — | 143,968,605 |
Sweden | — | 280,314,565 | — | 280,314,565 |
Switzerland | — | 4,570,332 | — | 4,570,332 |
United Kingdom | 16,315,188 | 697,691,018 | — | 714,006,206 |
United States | 1,838,456,000 | — | — | 1,838,456,000 |
Money Market Funds | 242,630,907 | — | — | 242,630,907 |
Total Investments | $2,134,927,202 | $2,340,032,719 | $— | $4,474,959,921 |
Invesco Global Opportunities Fund