NPORT-EX 2 edgar.htm
Schedule of Investments
July 31, 2022
(Unaudited)
  Shares Value
Common Stocks & Other Equity Interests–98.75%
Australia–3.90%
ALS Ltd. 5,339,911    $43,677,083
carsales.com Ltd. 4,114,926    59,682,860
Cochlear Ltd. 386,741    58,011,911
IPH Ltd. 10,383,417    63,740,708
      225,112,562
Austria–0.27%
Fabasoft AG 703,965    15,585,652
Brazil–2.24%
Boa Vista Servicos S.A. 22,220,854    23,105,119
Odontoprev S.A.(a) 33,731,640    64,606,512
TOTVS S.A. 8,153,337    41,553,796
      129,265,427
Canada–0.96%
Descartes Systems Group, Inc. (The)(b) 804,257    55,557,826
Denmark–2.71%
Chemometec A/S 505,316    60,334,010
Chr. Hansen Holding A/S 680,447    44,502,898
SimCorp A/S 692,863    51,620,989
      156,457,897
France–3.74%
Alten S.A. 333,940    45,311,262
Gaztransport Et Technigaz S.A. (Acquired 04/20/2020-07/29/2021; Cost $20,303,674)(c) 267,573    36,897,123
Interparfums S.A. 574,184    28,776,657
Lectra 928,360    32,596,422
Neurones 921,048    32,937,138
Thermador Groupe 175,655    14,797,379
Vetoquinol S.A. 194,300    24,350,447
      215,666,428
Germany–8.52%
Amadeus Fire AG(a) 287,561    32,031,530
Atoss Software AG 247,712    38,906,578
Carl Zeiss Meditec AG, BR 662,207    96,264,406
CTS Eventim AG & Co. KGaA(b) 802,141    43,934,298
Fuchs Petrolub SE, Preference Shares 1,438,777    43,039,689
Knorr-Bremse AG 462,944    27,518,085
Nemetschek SE 579,986    38,531,692
New Work SE(a) 326,237    43,428,878
Sartorius AG, Preference Shares 121,853    54,231,181
STRATEC SE 383,070    35,208,779
Symrise AG 328,974    38,192,305
      491,287,421
Iceland–1.73%
Marel HF(d) 9,993,027    44,992,306
Ossur HF(b) 13,469,863    54,544,200
      99,536,506
  Shares Value
India–1.76%
AIA Engineering Ltd. 1,056,848    $32,117,055
Britannia Industries Ltd. 885,813    43,663,226
Triveni Turbine Ltd. 12,014,057    25,946,174
      101,726,455
Israel–1.74%
Nice Ltd., ADR(b) 469,632   100,510,641
Italy–4.05%
Antares Vision S.p.A.(a)(b) 1,596,895    17,063,315
DiaSorin S.p.A. 390,522    54,437,575
GVS S.p.A.(d) 3,022,167    29,257,864
Interpump Group S.p.A. 682,376    29,244,193
Recordati Industria Chimica e Farmaceutica S.p.A. 1,143,143    50,757,638
Technoprobe S.p.A.(b) 2,978,235    24,047,275
Tinexta S.p.A. 1,153,969    28,807,035
      233,614,895
Japan–20.06%
Ariake Japan Co. Ltd.(a) 1,699,800    67,764,448
As One Corp. 1,246,726    59,309,571
Azbil Corp. 3,026,200    91,027,768
Benefit One, Inc. 3,016,400    48,912,996
Daifuku Co. Ltd. 1,204,200    77,067,974
Disco Corp. 294,000    71,473,165
Fukui Computer Holdings, Inc.(a) 1,438,800    38,016,536
Infomart Corp. 9,319,426    32,904,297
Japan Elevator Service Holdings Co. Ltd. 3,819,200    45,735,425
Meitec Corp. 3,620,458    68,346,809
MISUMI Group, Inc. 1,332,200    33,262,133
MonotaRO Co. Ltd. 2,536,620    45,396,657
NSD Co. Ltd. 2,514,100    47,176,690
OBIC Business Consultants Co. Ltd. 1,356,900    46,232,363
Obic Co. Ltd. 694,000   110,723,550
SCSK Corp. 2,729,200    48,056,873
Seria Co. Ltd. 1,508,600    30,117,032
SHO-BOND Holdings Co. Ltd. 1,030,200    45,552,154
Sysmex Corp. 389,900    27,383,811
TechnoPro Holdings, Inc. 1,903,200    44,333,834
TKC Corp. 1,368,818    36,008,793
USS Co. Ltd. 2,175,848    42,681,672
      1,157,484,551
Jersey–0.72%
JTC PLC(d) 4,566,188    41,543,073
Netherlands–1.10%
IMCD N.V. 395,553    63,325,575
New Zealand–0.50%
Fisher & Paykel Healthcare Corp. Ltd. 2,152,584    28,797,606
Norway–0.46%
Medistim ASA 859,892    26,249,145
 
See accompanying notes which are an integral part of this schedule.
Invesco International Small-Mid Company Fund
  Shares Value
South Korea–0.40%
NICE Information Service Co. Ltd. 1,870,439    $22,766,566
Spain–0.49%
Applus Services S.A. 3,885,078    28,262,711
Sweden–14.49%
AddTech AB, Class B 2,451,563    41,954,665
Alfa Laval AB 1,980,488    59,523,284
Biotage AB 2,431,181    53,446,654
Bravida Holding AB(d) 3,610,682    36,610,450
Cellavision AB 1,087,959    39,350,685
Epiroc AB, Class A 2,628,314    46,755,783
Fortnox AB 10,449,949    59,549,629
Hexpol AB 4,642,085    48,359,063
Karnov Group AB(a)(b) 6,931,365    44,774,290
Lifco AB, Class B 2,529,181    49,243,735
Lime Technologies AB(a) 763,284    21,906,260
Loomis AB 2,795,336    78,632,316
MIPS AB(d) 712,396    38,078,679
Mycronic AB 2,368,800    34,798,282
Sdiptech AB, Class B(a)(b) 2,278,966    63,588,303
SmartCraft ASA(b) 8,464,068    16,210,789
Vitec Software Group AB, Class B 1,176,028    54,067,174
Vitrolife AB 1,501,789    48,944,072
      835,794,113
Switzerland–9.90%
Belimo Holding AG 117,141    48,094,632
Bossard Holding AG, Class A 116,963    26,045,807
dormakaba Holding AG 102,832    48,998,440
Forbo Holding AG 24,038    32,357,839
Interroll Holding AG, Class R 11,274    29,740,802
Kardex Holding AG 264,500    53,002,935
LEM Holding S.A. 25,727    51,133,926
Partners Group Holding AG 119,172   129,796,056
Tecan Group AG, Class R 164,608    58,542,938
VAT Group AG(d) 124,128    36,090,163
VZ Holding AG 702,144    57,489,322
      571,292,860
Taiwan–0.58%
Advantech Co. Ltd. 2,908,000    33,534,435
  Shares Value
United Kingdom–16.17%
Alpha Financial Markets Consulting PLC(a) 5,666,234    $29,665,254
Auction Technology Group PLC(b) 3,497,871    42,445,644
AVEVA Group PLC 1,815,375    52,493,967
Croda International PLC 1,034,783    94,508,143
Diploma PLC 2,005,065    67,341,809
FDM Group Holdings PLC 3,578,468    40,302,515
Halma PLC 2,316,362    65,238,532
Hill & Smith Holdings PLC 2,422,128    38,972,500
Howden Joinery Group PLC 4,848,615    40,156,388
IMI PLC 2,211,940    36,120,780
Intertek Group PLC 755,749    40,374,361
Johnson Service Group PLC(a)(b) 34,376,491    47,518,130
Rathbones Group PLC 937,651    20,722,349
Restore PLC(a) 10,949,102    60,074,582
Rightmove PLC 8,027,824    62,914,281
Rotork PLC 12,033,507    38,210,037
Spirax-Sarco Engineering PLC 570,453    83,295,624
Victrex PLC 1,941,227    45,669,849
Weir Group PLC (The) 1,323,770    27,062,087
      933,086,832
United States–2.26%
Bruker Corp. 1,081,138    74,112,010
ICON PLC(b) 234,183    56,496,649
      130,608,659
Total Common Stocks & Other Equity Interests (Cost $4,550,455,956) 5,697,067,836
Money Market Funds–0.91%
Invesco Government & Agency Portfolio, Institutional Class, 1.71%(a)(e) 18,902,449    18,902,449
Invesco Liquid Assets Portfolio, Institutional Class, 1.67%(a)(e) 12,007,734    12,007,734
Invesco Treasury Portfolio, Institutional Class, 1.66%(a)(e) 21,602,799    21,602,799
Total Money Market Funds (Cost $52,511,781) 52,512,982
TOTAL INVESTMENTS IN SECURITIES—99.66% (Cost $4,602,967,737) 5,749,580,818
OTHER ASSETS LESS LIABILITIES–0.34% 19,368,597
NET ASSETS–100.00% $5,768,949,415
Investment Abbreviations:
ADR – American Depositary Receipt
BR – Bearer Shares
See accompanying notes which are an integral part of this schedule.
Invesco International Small-Mid Company Fund
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 the Investment Company Act of 1940, as amended (the “1940 Act”), defines “affiliated person” to include an issuer of which a fund holds 5% or more of the outstanding voting securities. 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, 2022.
    
  Value
October 31, 2021 		Purchases
at Cost 		Proceeds
from Sales 		Change in
Unrealized
Appreciation
(Depreciation) 		Realized
Gain
(Loss) 		Value
July 31, 2022 		Dividend Income
Investments in Affiliated Money Market Funds:              
Invesco Government & Agency Portfolio, Institutional Class $26,783,461 $300,244,390 $(308,125,402) $- $- $18,902,449 $103,270
Invesco Liquid Assets Portfolio, Institutional Class 16,470,796 214,460,278 (218,919,394) 1,201 (5,147) 12,007,734 34,219
Invesco Treasury Portfolio, Institutional Class 30,609,669 343,136,446 (352,143,316) - - 21,602,799 57,802
Investments in Other Affiliates:              
Alpha Financial Markets Consulting PLC - 28,541,369 - 1,123,885 - 29,665,254 188,497
Amadeus Fire AG 72,508,225 1,276,335 (6,632,436) (36,012,124) 891,530 32,031,530 772,185
Antares Vision S.p.A. 22,089,362 - - (5,026,047) - 17,063,315 -
Ariake Japan Co. Ltd. 109,549,953 5,291,743 (4,335,454) (40,284,968) (2,456,826) 67,764,448 987,538
Bravura Solutions Ltd.* 50,286,904 - (32,337,087) 7,361,325 (25,311,142) - 441,380
Fukui Computer Holdings, Inc. 38,155,165 12,271,527 (1,425,147) (10,285,492) (699,517) 38,016,536 641,617
IPH Ltd.* 82,084,407 3,980,215 (16,651,783) (5,310,261) (361,870) 63,740,708 1,270,050
Johnson Service Group PLC 46,281,211 17,977,909 (4,069,441) (12,855,354) 183,805 47,518,130 -
Karnov Group AB 49,345,718 9,990,548 (14,801,033) 277,100 (38,043) 44,774,290 -
Lime Technologies AB 5,833,382 21,963,177 - (5,890,299) - 21,906,260 171,578
Meitec Corp.* 90,716,025 6,674,547 (23,205,645) (4,295,330) (1,542,788) 68,346,809 1,512,687
New Work SE 74,916,904 4,347,066 - (35,835,092) - 43,428,878 1,895,117
Odontoprev S.A. 76,227,051 5,268,564 (8,382,120) (3,051,011) (5,455,972) 64,606,512 1,642,293
Restore PLC 86,055,343 - (13,804,481) (12,891,686) 715,406 60,074,582 667,407
Sdiptech AB, Class B 130,016,552 2,333,720 (10,994,040) (59,852,472) 2,084,543 63,588,303 -
Total $1,007,930,128 $977,757,834 $(1,015,826,779) $(222,826,625) $(31,996,021) $715,038,537 $10,385,640
    
* At July 31, 2022, this security was was no longer an affiliate of the Fund.
    
(b) Non-income producing security.
(c) Restricted security. The value of this security at July 31, 2022 represented less than 1% of the Fund’s Net Assets.
(d) 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, 2022 was $226,572,535, which represented 3.93% of the Fund’s Net Assets.
(e) The rate shown is the 7-day SEC standardized yield as of July 31, 2022.
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 International Small-Mid Company Fund
Notes to Quarterly Schedule of Portfolio Holdings
July 31, 2022
(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.
The following is a summary of the tiered valuation input levels, as of July 31, 2022. 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        
Australia $— $225,112,562 $— $225,112,562
Austria — 15,585,652 — 15,585,652
Brazil 129,265,427 — — 129,265,427
Canada 55,557,826 — — 55,557,826
Denmark — 156,457,897 — 156,457,897
France — 215,666,428 — 215,666,428
Germany — 491,287,421 — 491,287,421
Iceland — 99,536,506 — 99,536,506
India — 101,726,455 — 101,726,455
Israel 100,510,641 — — 100,510,641
Italy — 233,614,895 — 233,614,895
Japan — 1,157,484,551 — 1,157,484,551
Jersey — 41,543,073 — 41,543,073
Netherlands — 63,325,575 — 63,325,575
New Zealand — 28,797,606 — 28,797,606
Norway — 26,249,145 — 26,249,145
South Korea — 22,766,566 — 22,766,566
Spain — 28,262,711 — 28,262,711
Sweden — 835,794,113 — 835,794,113
Switzerland — 571,292,860 — 571,292,860
Taiwan — 33,534,435 — 33,534,435
United Kingdom — 933,086,832 — 933,086,832
United States 130,608,659 — — 130,608,659
Money Market Funds 52,512,982 — — 52,512,982
Total Investments $468,455,535 $5,281,125,283 $— $5,749,580,818
Invesco International Small-Mid Company Fund