0001752724-19-184815.txt : 20191129 0001752724-19-184815.hdr.sgml : 20191129 20191129100720 ACCESSION NUMBER: 0001752724-19-184815 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20190930 FILED AS OF DATE: 20191129 PERIOD START: 20191231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Invesco Exchange Fund CENTRAL INDEX KEY: 0000005100 IRS NUMBER: 741908071 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-02611 FILM NUMBER: 191260098 BUSINESS ADDRESS: STREET 1: 11 GREENWAY PLAZA STREET 2: SUITE 1000 CITY: HOUSTON STATE: TX ZIP: 77046 BUSINESS PHONE: 7136261919 MAIL ADDRESS: STREET 1: 11 GREENWAY PLAZA STREET 2: SUITE 1000 CITY: HOUSTON STATE: TX ZIP: 77046 FORMER COMPANY: FORMER CONFORMED NAME: Invesco Van Kampen Exchange Fund DATE OF NAME CHANGE: 20100601 FORMER COMPANY: FORMER CONFORMED NAME: VAN KAMPEN EXCHANGE FUND DATE OF NAME CHANGE: 20030731 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN CAPITAL EXCHANGE FUND DATE OF NAME CHANGE: 19920703 0000005100 S000012144 INVESCO EXCHANGE FUND C000033111 INVESCO EXCHANGE FUND NPORT-P 1 primary_doc.xml NPORT-P false 0000005100 XXXXXXXX S000012144 C000033111 Invesco Exchange Fund 811-02611 0000005100 549300RMEMIEFZ9DKD86 11 Greenway Plaza Suite 1000 Houston 77046-1173 800-959-4246 Invesco Exchange Fund S000012144 549300RMEMIEFZ9DKD86 2019-12-31 2019-09-30 N 56858859.88 38057.98 56820801.90 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N Honeywell International, Inc. ISRPG12PN4EIEOEMW547 Honeywell International, Inc. 438516106 10143.00000000 NS USD 1716195.60000000 3.020364976580 Long EC CORP US N 1 N N N Johnson & Johnson 549300G0CFPGEF6X2043 Johnson & Johnson 478160104 21951.00000000 NS USD 2840020.38000000 4.998205384355 Long EC CORP US N 1 N N N International Flavors & Fragrances, Inc. BZLRL03D3GPGMOGFO832 International Flavors & Fragrances, Inc. 459506101 40218.00000000 NS USD 4934346.42000000 8.684049247816 Long EC CORP US N 1 N N N Air Products and Chemicals, Inc. 7QEON6Y1RL5XR3R1W237 Air Products and Chemicals, Inc. 009158106 36660.00000000 NS USD 8133387.60000000 14.31410210351 Long EC CORP US N 1 N N N Transocean Ltd. 529900QO4W5DQGBGEF32 Transocean Ltd. H8817H100 1770.00000000 NS USD 7911.90000000 0.013924301902 Long EC CORP CH N 1 N N N Hess Corp. UASVRYNXNK17ULIGK870 Hess Corp. 42809H107 39144.00000000 NS USD 2367429.12000000 4.166483120330 Long EC CORP US N 1 N N N Halliburton Co. ENYF8GB5SMQZ25S06U51 Halliburton Co. 406216101 49056.00000000 NS USD 924705.60000000 1.627406810673 Long EC CORP US N 1 N N N International Business Machines Corp. VGRQXHF3J8VDLUA7XE92 International Business Machines Corp. 459200101 12153.00000000 NS USD 1767289.26000000 3.110285671628 Long EC CORP US N 1 N N N Invesco Government & Agency Portfolio 5493007T1J7WZ5QI1A47 Invesco Government & Agency Portfolio, Institutional Class 825252885 232923.07000000 NS USD 232923.07000000 0.409925700115 Long STIV RF US N 1 N N N Cigna Corp. 549300VIWYMSIGT1U456 Cigna Corp. 125523100 1941.00000000 NS USD 294624.39000000 0.518515015888 Long EC CORP US N 1 N N N Weyerhaeuser Co. 08IRJODWFYBI7QWRGS31 Weyerhaeuser Co. 962166104 33142.00000000 NS USD 918033.40000000 1.615664280162 Long EC CORP US N 1 N N N Versum Materials, Inc. 5493006QY0E0EST2ZX08 Versum Materials, Inc. 92532W103 18335.00000000 NS USD 970471.55000000 1.707951168496 Long EC CORP US N 1 N N N Baxter International, Inc. J5OIVXX3P24RJRW5CK77 Baxter International, Inc. 071813109 8098.00000000 NS USD 708332.06000000 1.246606940265 Long EC CORP US N 1 N N N Garrett Motion, Inc. 549300LS5WT7EMBNV724 Garrett Motion, Inc. 366505105 1016.00000000 NS USD 10119.36000000 0.017809252354 Long EC CORP US N 1 N N N Takeda Pharmaceutical Co. Ltd. 549300ZLMVP4X0OGR454 Takeda Pharmaceutical Co. Ltd., ADR 874060205 6080.00000000 NS USD 104576.00000000 0.184045273039 Long EC CORP JP N 1 N N N Cardinal Health, Inc. CCU46N3GJMF4OK4N7U60 Cardinal Health, Inc. 14149Y108 1520.00000000 NS USD 71728.80000000 0.126236866783 Long EC CORP US N 1 N N N Resideo Technologies, Inc. 5493006TKFPYISY2DS54 Resideo Technologies, Inc. 76118Y104 1692.00000000 NS USD 24280.20000000 0.042731181518 Long EC CORP US N 1 N N N Invesco Liquid Assets Portfolio 549300DC1W0JSX3QRC47 Invesco Liquid Assets Portfolio, Institutional Class 825252729 166393.96000000 NS USD 166443.88000000 0.292927720895 Long STIV RF US N 1 N N N Louisiana-Pacific Corp. 549300C7E2UAO5BVRR75 Louisiana-Pacific Corp. 546347105 21014.00000000 NS USD 516524.12000000 0.909040532213 Long EC CORP US N 1 N N N Exxon Mobil Corp. J3WHBG0MTS7O8ZVMDC91 Exxon Mobil Corp. 30231G102 28201.00000000 NS USD 1991272.61000000 3.504478190055 Long EC CORP US N 1 N N N Baker Hughes, a GE Co. N/A Baker Hughes, a GE Co., Class A 05722G100 12459.00000000 NS USD 289048.80000000 0.508702429981 Long EC CORP US N 1 N N N BP PLC 213800LH1BZH3DI6G760 BP PLC, ADR 055622104 27404.00000000 NS USD 1041077.96000000 1.832212719968 Long EC CORP GB N 1 N N N Intel Corp. KNX4USFCNGPY45LOCE31 Intel Corp. 458140100 155210.00000000 NS USD 7997971.30000000 14.07578040534 Long EC CORP US N 1 N N N SPX FLOW, Inc. 5493003YXEKRBINIEM78 SPX FLOW, Inc. 78469X107 11050.00000000 NS USD 436033.00000000 0.767382693344 Long EC CORP US N 1 N N N AdvanSix, Inc. 5493009TPRODMCAZLF67 AdvanSix, Inc. 00773T101 413.00000000 NS USD 10622.36000000 0.018694491532 Long EC CORP US N 1 N N N Apache Corp. 72ZZ1XRHOOU9P9X16K08 Apache Corp. 037411105 21317.00000000 NS USD 545715.20000000 0.960414463985 Long EC CORP US N 1 N N N Fluor Corp. CQ7WZ4NOFWT7FAE6Q943 Fluor Corp. 343412102 20765.00000000 NS USD 397234.45000000 0.699100394075 Long EC CORP US N 1 N N N HSBC Holdings PLC MLU0ZO3ML4LN2LL2TL39 HSBC Holdings PLC, ADR 404280406 9326.00000000 NS USD 356906.02000000 0.628125630166 Long EC CORP GB N 1 N N N Invesco Treasury Portfolio 5493004B3TM8ZIDDDC39 Invesco Treasury Portfolio, Institutional Class 825252406 266197.78000000 NS USD 266197.78000000 0.468486489276 Long STIV RF US N 1 N N N Merck & Co., Inc. 4YV9Y5M8S0BRK1RP0397 Merck & Co., Inc. 58933Y105 40095.00000000 NS USD 3375197.10000000 5.940072978801 Long EC CORP US N 1 N N N McCormick & Co., Inc. 549300JQQA6MQ4OJP259 McCormick & Co., Inc. 579780206 61778.00000000 NS USD 9655901.40000000 16.99360283051 Long EC CORP US N 1 N N N SPX Corp. P761FCI0CPOG24I8JE10 SPX Corp. 784635104 11050.00000000 NS USD 442110.50000000 0.778078600119 Long EC CORP US N 1 N N N American International Group, Inc. ODVCVCQG2BP6VHV36M30 American International Group, Inc. 026874784 1695.00000000 NS USD 94411.50000000 0.166156577948 Long EC CORP US N 1 N N N Pfizer, Inc. 765LHXWGK1KXCLTFYQ30 Pfizer, Inc. 717081103 62468.00000000 NS USD 2244475.24000000 3.950094269964 Long EC CORP US N 1 N N N Schlumberger Ltd. 213800ZUA17OK3QLGM62 Schlumberger Ltd. 806857108 26022.00000000 NS USD 889171.74000000 1.564870100856 Long EC CORP CW N 1 N N N 2019-11-29 Invesco Exchange Fund Sheri Morris Sheri Morris President XXXX NPORT-EX 2 Exchange.htm
Schedule of Investments(a)
September 30, 2019
(Unaudited)
  Shares Value
Common Stocks & Other Equity Interests–98.69%
Auto Parts & Equipment–0.02%
Garrett Motion, Inc. (Switzerland)(b) 1,016     $10,119
Building Products–0.04%
Resideo Technologies, Inc.(b) 1,692     24,280
Commodity Chemicals–0.02%
AdvanSix, Inc.(b) 413     10,622
Construction & Engineering–0.70%
Fluor Corp. 20,765    397,235
Diversified Banks–0.63%
HSBC Holdings PLC, ADR (United Kingdom) 9,326    356,906
Forest Products–0.91%
Louisiana-Pacific Corp. 21,014    516,524
Health Care Distributors–0.13%
Cardinal Health, Inc. 1,520     71,729
Health Care Equipment–1.25%
Baxter International, Inc. 8,098    708,332
Health Care Services–0.52%
Cigna Corp. 1,941    294,624
Industrial Conglomerates–3.02%
Honeywell International, Inc. 10,143  1,716,196
Industrial Gases–14.31%
Air Products and Chemicals, Inc. 36,660  8,133,388
Industrial Machinery–1.54%
SPX Corp.(b) 11,050    442,111
SPX FLOW, Inc.(b) 11,050    436,033
      878,144
Integrated Oil & Gas–5.34%
BP PLC, ADR (United Kingdom) 27,404  1,041,078
Exxon Mobil Corp. 28,201  1,991,273
      3,032,351
IT Consulting & Other Services–3.11%
International Business Machines Corp. 12,153  1,767,289
Multi-line Insurance–0.17%
American International Group, Inc. 1,695     94,412
Oil & Gas Drilling–0.01%
Transocean Ltd.(b) 1,770      7,912
  Shares Value
Oil & Gas Equipment & Services–3.70%
Baker Hughes, a GE Co., Class A 12,459    $289,049
Halliburton Co. 49,056    924,705
Schlumberger Ltd. 26,022    889,172
      2,102,926
Oil & Gas Exploration & Production–5.13%
Apache Corp. 21,317    545,715
Hess Corp. 39,144  2,367,429
      2,913,144
Packaged Foods & Meats–16.99%
McCormick & Co., Inc. 61,778  9,655,901
Pharmaceuticals–15.07%
Johnson & Johnson 21,951  2,840,021
Merck & Co., Inc. 40,095  3,375,197
Pfizer, Inc. 62,468  2,244,475
Takeda Pharmaceutical Co., Ltd., ADR (Japan) 6,080    104,576
      8,564,269
Semiconductor Equipment–1.71%
Versum Materials, Inc. 18,335    970,472
Semiconductors–14.08%
Intel Corp. 155,210  7,997,971
Specialized REITs–1.61%
Weyerhaeuser Co. 33,142    918,033
Specialty Chemicals–8.68%
International Flavors & Fragrances, Inc. 40,218  4,934,346
Total Common Stocks & Other Equity Interests (Cost $1,389,797) 56,077,125
Money Market Funds–1.17%
Invesco Government & Agency Portfolio, Institutional Class, 1.83%(c) 232,923    232,923
Invesco Liquid Assets Portfolio, Institutional Class, 1.98%(c) 166,394    166,444
Invesco Treasury Portfolio, Institutional Class, 1.79%(c) 266,198    266,198
Total Money Market Funds (Cost $665,530) 665,565
TOTAL INVESTMENTS IN SECURITIES–99.86% (Cost $2,055,327) 56,742,690
OTHER ASSETS LESS LIABILITIES—0.14% 78,113
NET ASSETS–100.00% $56,820,803
 
Investment Abbreviations:
ADR – American Depositary Receipt
REIT – Real Estate Investment Trust
See accompanying notes which are an integral part of this schedule.
Invesco Exchange Fund
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) Non-income producing security.
(c) 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 September 30, 2019.
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 Exchange Fund
Notes to Quarterly Schedule of Portfolio Holdings
September 30, 2019
(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 or are unreliable. 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 the Fund’s own 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.
As of September 30, 2019, all of the securities in this Fund were valued based on Level 1 inputs (see the Schedule of Investments for security categories). 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.
Invesco Exchange Fund