0001752724-21-247894.txt : 20211122 0001752724-21-247894.hdr.sgml : 20211122 20211119175226 ACCESSION NUMBER: 0001752724-21-247894 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20210930 FILED AS OF DATE: 20211122 PERIOD START: 20211231 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: 211429615 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 2021-12-31 2021-09-30 N 52330590.51 29491.83 52301098.68 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 Invesco Treasury Portfolio 5493004B3TM8ZIDDDC39 Invesco Treasury Portfolio, Institutional Class 825252406 209108.99000000 NS USD 209108.99000000 0.399817585629 Long STIV RF US N 1 N N N Exxon Mobil Corp. J3WHBG0MTS7O8ZVMDC91 Exxon Mobil Corp. 30231G102 24815.00000000 NS USD 1459618.30000000 2.790798543125 Long EC CORP US N 1 N N N Resideo Technologies, Inc. 5493006TKFPYISY2DS54 Resideo Technologies, Inc. 76118Y104 1491.00000000 NS USD 36961.89000000 0.070671345216 Long EC CORP US N 1 N N N Baxter International, Inc. J5OIVXX3P24RJRW5CK77 Baxter International, Inc. 071813109 7127.00000000 NS USD 573224.61000000 1.096008734935 Long EC CORP US N 1 N N N Intel Corp. KNX4USFCNGPY45LOCE31 Intel Corp. 458140100 136561.00000000 NS USD 7275970.08000000 13.91169643398 Long EC CORP US N 1 N N N International Business Machines Corp. VGRQXHF3J8VDLUA7XE92 International Business Machines Corp. 459200101 10696.00000000 NS USD 1485995.28000000 2.841231479843 Long EC CORP US N 1 N N N BP PLC 213800LH1BZH3DI6G760 BP PLC, ADR 055622104 24114.00000000 NS USD 659035.62000000 1.260079877159 Long EC CORP GB N 1 N N N Invesco Government & Agency Portfolio 5493007T1J7WZ5QI1A47 Invesco Government & Agency Portfolio, Institutional Class 825252885 182970.33000000 NS USD 182970.33000000 0.349840318115 Long STIV RF US N 1 N N N Johnson & Johnson 549300G0CFPGEF6X2043 Johnson & Johnson 478160104 19317.00000000 NS USD 3119695.50000000 5.964875650294 Long EC CORP US N 1 N N N Merck & Co., Inc. 4YV9Y5M8S0BRK1RP0397 Merck & Co., Inc. 58933Y105 35280.00000000 NS USD 2649880.80000000 5.066587255103 Long EC CORP US N 1 N N N Fluor Corp. CQ7WZ4NOFWT7FAE6Q943 Fluor Corp. 343412102 18273.00000000 NS USD 291819.81000000 0.557961146830 Long EC CORP US N 1 N N N Pfizer, Inc. 765LHXWGK1KXCLTFYQ30 Pfizer, Inc. 717081103 54965.00000000 NS USD 2364044.65000000 4.520066900437 Long EC CORP US N 1 N N N Transocean Ltd. 529900QO4W5DQGBGEF32 Transocean Ltd. H8817H100 1560.00000000 NS USD 5912.40000000 0.011304542637 Long EC CORP CH N 1 N N N HSBC Holdings PLC MLU0ZO3ML4LN2LL2TL39 HSBC Holdings PLC, ADR 404280406 8209.00000000 NS USD 214665.35000000 0.410441377748 Long EC CORP GB N 1 N N N McCormick & Co., Inc. 549300JQQA6MQ4OJP259 McCormick & Co., Inc. 579780206 108713.00000000 NS USD 8809014.39000000 16.84288592845 Long EC CORP US N 1 N N N Weyerhaeuser Co. 08IRJODWFYBI7QWRGS31 Weyerhaeuser Co. 962166104 29162.00000000 NS USD 1037292.34000000 1.983308890596 Long EC CORP US N 1 N N N Hess Corp. UASVRYNXNK17ULIGK870 Hess Corp. 42809H107 34443.00000000 NS USD 2690342.73000000 5.143950696830 Long EC CORP US N 1 N N N SPX Corp. P761FCI0CPOG24I8JE10 SPX Corp. 784635104 9725.00000000 NS USD 519801.25000000 0.993862964868 Long EC CORP US N 1 N N N APA Corp. N/A APA Corp. 03743Q108 18759.00000000 NS USD 402005.37000000 0.768636568152 Long EC CORP US N 1 N N N Air Products and Chemicals, Inc. 7QEON6Y1RL5XR3R1W237 Air Products and Chemicals, Inc. 009158106 32258.00000000 NS USD 8261596.38000000 15.79621956041 Long EC CORP US N 1 N N N AdvanSix, Inc. 5493009TPRODMCAZLF67 AdvanSix, Inc. 00773T101 366.00000000 NS USD 14548.50000000 0.027816815262 Long EC CORP US N 1 N N N Cardinal Health, Inc. CCU46N3GJMF4OK4N7U60 Cardinal Health, Inc. 14149Y108 1341.00000000 NS USD 66325.86000000 0.126815423908 Long EC CORP US N 1 N N N Schlumberger N.V. 213800ZUA17OK3QLGM62 Schlumberger N.V. 806857108 22897.00000000 NS USD 678667.08000000 1.297615341032 Long EC CORP CW N 1 N N N International Flavors & Fragrances, Inc. BZLRL03D3GPGMOGFO832 International Flavors & Fragrances, Inc. 459506101 35389.00000000 NS USD 4732217.08000000 9.048026139859 Long EC CORP US N 1 N N N Cigna Corp. 549300VIWYMSIGT1U456 Cigna Corp. 125523100 1711.00000000 NS USD 342473.76000000 0.654811789127 Long EC CORP US N 1 N N N Halliburton Co. ENYF8GB5SMQZ25S06U51 Halliburton Co. 406216101 43165.00000000 NS USD 933227.30000000 1.784335938542 Long EC CORP US N 1 N N N Organon & Co. 549300AMCKY57OK2CO56 Organon & Co. 68622V106 3528.00000000 NS USD 115683.12000000 0.221186787504 Long EC CORP US N 1 N N N Viatris, Inc. 254900ZZTSW7NL773X71 Viatris, Inc. 92556V106 6821.00000000 NS USD 92424.55000000 0.176716268553 Long EC CORP US N 1 N N N SPX FLOW, Inc. 5493003YXEKRBINIEM78 SPX FLOW, Inc. 78469X107 9725.00000000 NS USD 710897.50000000 1.359240088529 Long EC CORP US N 1 N N N Invesco Liquid Assets Portfolio 549300DC1W0JSX3QRC47 Invesco Liquid Assets Portfolio, Institutional Class 825252729 122613.46300000 NS USD 122662.51000000 0.234531421128 Long STIV RF US N 1 N N N Honeywell International, Inc. ISRPG12PN4EIEOEMW547 Honeywell International, Inc. 438516106 8928.00000000 NS USD 1895235.84000000 3.623701772683 Long EC CORP US N 1 N N N Baker Hughes Co. 549300XU3XH6F05YEQ93 Baker Hughes Co., Class A 05722G100 10964.00000000 NS USD 271139.72000000 0.518420696396 Long EC CORP US N 1 N N N 2021-10-30 Invesco Exchange Fund Sheri Morris Sheri Morris President XXXX NPORT-EX 2 edgar.htm
Schedule of Investments(a)
September 30, 2021
(Unaudited)
  Shares Value
Common Stocks & Other Equity Interests–98.87%
Building Products–0.07%
Resideo Technologies, Inc.(b) 1,491     $36,962
Commodity Chemicals–0.03%
AdvanSix, Inc.(b) 366     14,549
Construction & Engineering–0.56%
Fluor Corp.(b) 18,273    291,820
Diversified Banks–0.41%
HSBC Holdings PLC, ADR (United Kingdom) 8,209    214,665
Health Care Distributors–0.13%
Cardinal Health, Inc. 1,341     66,326
Health Care Equipment–1.10%
Baxter International, Inc. 7,127    573,225
Health Care Services–0.66%
Cigna Corp. 1,711    342,474
Industrial Conglomerates–3.62%
Honeywell International, Inc. 8,928  1,895,236
Industrial Gases–15.80%
Air Products and Chemicals, Inc. 32,258  8,261,596
Industrial Machinery–2.35%
SPX Corp.(b) 9,725    519,801
SPX FLOW, Inc. 9,725    710,898
      1,230,699
Integrated Oil & Gas–4.05%
BP PLC, ADR (United Kingdom) 24,114    659,036
Exxon Mobil Corp. 24,815  1,459,618
      2,118,654
IT Consulting & Other Services–2.84%
International Business Machines Corp. 10,696  1,485,995
Oil & Gas Drilling–0.01%
Transocean Ltd.(b) 1,560      5,912
Oil & Gas Equipment & Services–3.60%
Baker Hughes Co., Class A 10,964    271,140
  Shares Value
Oil & Gas Equipment & Services–(continued)
Halliburton Co. 43,165    $933,227
Schlumberger N.V. 22,897    678,667
      1,883,034
Oil & Gas Exploration & Production–5.91%
APA Corp. 18,759    402,005
Hess Corp. 34,443  2,690,343
      3,092,348
Packaged Foods & Meats–16.84%
McCormick & Co., Inc. 108,713  8,809,014
Pharmaceuticals–15.95%
Johnson & Johnson 19,317  3,119,695
Merck & Co., Inc. 35,280  2,649,881
Organon & Co. 3,528    115,683
Pfizer, Inc. 54,965  2,364,045
Viatris, Inc. 6,821     92,425
      8,341,729
Semiconductors–13.91%
Intel Corp. 136,561  7,275,970
Specialized REITs–1.98%
Weyerhaeuser Co. 29,162  1,037,292
Specialty Chemicals–9.05%
International Flavors & Fragrances, Inc. 35,389  4,732,217
Total Common Stocks & Other Equity Interests (Cost $815,597) 51,709,717
Money Market Funds–0.98%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%(c)(d) 182,970    182,970
Invesco Liquid Assets Portfolio, Institutional Class, 0.01%(c)(d) 122,613    122,663
Invesco Treasury Portfolio, Institutional Class, 0.01%(c)(d) 209,109    209,109
Total Money Market Funds (Cost $514,742) 514,742
TOTAL INVESTMENTS IN SECURITIES–99.85% (Cost $1,330,339) 52,224,459
OTHER ASSETS LESS LIABILITIES—0.15% 76,640
NET ASSETS–100.00% $52,301,099
 
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) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended September 30, 2021.
    
  Value
December 31, 2020 		Purchases
at Cost 		Proceeds
from Sales 		Change in
Unrealized
Appreciation 		Realized
Gain 		Value
September 30, 2021 		Dividend Income
Investments in Affiliated Money Market Funds:              
Invesco Government & Agency Portfolio, Institutional Class $136,316 $2,064,462 $(2,017,808) $- $- $182,970 $39
Invesco Liquid Assets Portfolio, Institutional Class 97,352 1,466,592 (1,441,290) 9 - 122,663 16
Invesco Treasury Portfolio, Institutional Class 155,790 2,359,385 (2,306,066) - - 209,109 17
Total $389,458 $5,890,439 $(5,765,164) $9 $- $514,742 $72
    
(d) The rate shown is the 7-day SEC standardized yield as of September 30, 2021.
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, 2021
(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, 2021, 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