# EDGAR Filing Document

**Accession Number:** 0000105377
**File Stem:** 0001193125-26-001672
**Filing Date:** 2026-1
**Character Count:** 1088677
**Document Hash:** 7796777a0f2923028384ee91a8d16896
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-001672.hdr.sgml**: 20260105

**ACCESSION NUMBER**: 0001193125-26-001672

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 105

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20260105

**DATE AS OF CHANGE**: 20260105

**EFFECTIVENESS DATE**: 20260105

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)
- **CENTRAL INDEX KEY:** 0000105377

**ORGANIZATION NAME:**
- **EIN:** 132576643
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01424
- **FILM NUMBER:** 26504230

**BUSINESS ADDRESS:**
- **STREET 1:** 11 GREENWAY PLZ
- **STREET 2:** STE 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:** AIM EQUITY FUNDS
- **DATE OF NAME CHANGE:** 20000713

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIM EQUITY FUNDS INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WEINGARTEN EQUITY FUND INC
- **DATE OF NAME CHANGE:** 19880929

## Series and Classes Contracts Data

### Invesco Charter Fund (Series ID: S000000277)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000000677 | Class A      | CHTRX           |
| C000000679 | Class C      | CHTCX           |
| C000000680 | Class R      | CHRRX           |
| C000021943 | CLASS R5     | CHTVX           |
| C000069441 | Class Y      | CHTYX           |
| C000081511 | CLASS S      | CHRSX           |
| C000120713 | Class R6     | CHFTX           |

### Invesco Diversified Dividend Fund (Series ID: S000000281)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000000691 | Class A        | LCEAX           |
| C000000693 | Class C        | LCEVX           |
| C000021945 | CLASS R5       | DDFIX           |
| C000029594 | Class R        | DDFRX           |
| C000029595 | Investor Class | LCEIX           |
| C000069443 | Class Y        | LCEYX           |
| C000120714 | Class R6       | LCEFX           |

### INVESCO SUMMIT FUND (Series ID: S000022173)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000063683 | CLASS A      | ASMMX           |
| C000063685 | CLASS C      | CSMMX           |
| C000063686 | CLASS P      | SMMIX           |
| C000069444 | Class Y      | ASMYX           |
| C000069445 | CLASS R5     | SMITX           |
| C000081512 | CLASS S      | SMMSX           |
| C000188847 | Class R6     |  |
| C000265798 | Class R      | SMMRX           |

### Invesco Main Street All Cap Fund (Series ID: S000064631)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000209243 | Class R6     |  |
| C000209244 | Class R5     |  |
| C000209245 | Class Y      |  |
| C000209246 | Class R      |  |
| C000209247 | Class C      |  |
| C000209248 | Class A      |  |

### Invesco Main Street Fund (Series ID: S000064632)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000209253 | Class C      |  |
| C000209256 | Class R      |  |
| C000209258 | Class Y      |  |
| C000209260 | Class R5     |  |
| C000209264 | Class R6     |  |
| C000209266 | Class A      |  |

### Invesco Rising Dividends Fund (Series ID: S000064633)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000209268 | Class C      |  |
| C000209270 | Class R      |  |
| C000209271 | Class Y      |  |
| C000209272 | Class R5     |  |
| C000209273 | Class R6     |  |
| C000209276 | Class A      |  |

?xml version='1.0' encoding='ASCII'? acc1c4fe-f405-491a-b3cc-5d442c647604

10.9 5.3 2.6 8.8 20694 19.9 17200 0.0 22349 2.9 2.1 3.8 13164 18934 12.1 11801 9.4 12628 19790 22399 13793 10653 6.0 10273 19077 2.2 22242 10000 12.1 13048 11.9 12.7 3.0 19728 11.9 39196 1.1 12259 16597 2.5 0.6 16500 12.1 11726 27337 13.6 10629 5.4 10219 49.2 11619 17766 2.7 10000 22196 13099 12.6 2.2 10000 16303 2.6 11607 17397 27659 13624 11959 15273 9.3 32.9 10000 11739 10081 24782 3.1 24001 16552 9.7 10110 10.4 41367 35584 22422 5.3 27864 9.3 10000 19041 11.9 13681 20800 9450 0.6 8.8 29415 2.7 6.0 8.8 12408 9.7 8.6 0.0 0.6 2.6 20012 12.7 13228 13.5 6.0 1.3 14077 13501 5.0 3.1 38155 10000 11583 37343 9.6 13907 32.9 5.5 4.7 32.9 28928 2.7 23046 20765 26739 1.3 2.0 3.1 3.1 16195 22219 35458 2.6 8.4 21683 17221 19135 18342 8.8 20688 12.6 9.6 6.0 11514 13.6 18291 10009 13267 11816 19.9 2.7 10.4 17138 18346 20554 12.6 21752 5.3 2.9 20447 10.9 9.0 41044 12909 28715 14189 10.9 5.1 20661 22870 10541 31.3 11936 29574 23383 20470 10098 14781 40972 33.6 9.0 29338 1.1 10.4 22165 9785 8.8 5.0 8.4 15070 12.7 5.3 15491 19748 23751 16129 33.6 11872 31830 9.7 10000 9320 15721 21908 5.5 12576 10000 11807 10426 13977 5.3 12.6 13048 2.7 0.0 14688 6.0 28369 3.1 13991 10451 10000 10.9 9.4 18980 5.0 10424 13.6 13.7 15716 9527 1.3 1.3 15283 14356 9.3 11920 16367 13.6 9.4 9.3 19.9 1.8 18448 16694 10.2 13082 10000 32701 2.5 15.7 28807 21191 21711 33.6 13389 2.7 8.6 10659 17845 13.7 3.8 3.0 7.9 5.0 13.5 10000 13270 11924 13827 12.7 39371 10219 1.8 0.0 7.9 5.1 16978 11.9 8.6 17343 10.9 13175 0.0 13059 10000 0.6 16601 16664 10.9 9.4 25863 13.6 4.7 12528 32.9 10190 2.2 13776 30216 10000 16187 23140 25051 2.9 11.9 13870 9450 13.6 32822 15886 13992 13363 20953 15635 21239 49.2 28318 12308 2.5 24862 17812 15412 12318 8.8 15.7 9450 13.7 2.7 1.1 10324 3.1 10000 5.3 11.9 3.1 9.4 1.1 9450 3.1 9.4 14274 11.4 12.7 15.7 18410 4.7 2.7 5.4 12.6 7.9 8.6 2.7 2.9 14030 2.2 1.1 3.2 27542 19590 2.6 7.9 20948 19559 2.0 15863 15905 38012 11692 32272 12.7 8.8 31.3 10000 10092 9.3 11181 49.2 13.7 10000 12.7 18801 14077 32512 12921 31.3 22935 13.5 2.1 11.4 10000 9.6 4.7 16059 9.0 9.0 12.1 40794 12912 27442 2.2 5.3 3.8 22643 21542 15857 22402 21066 13041 10000 12412 16533 5.4 12924 26652 30910 19.9 10055 21569 0.0 5.1 12503 11131 3.2 12296 3.8 32.9 3.1 28549 11.4 10000 4.7 41384 10000 11133 10000 9.3 7.9 22955 9657 24511 41423 16446 8.8 7.9 10000 2.0 2.6 31665 12134 20274 53572 9450 1.1 1.1 4.7 5.4 19.9 10000 19016 16506 19.9 9.4 17212 10363 11849 12.7 1.3 12320 19079 33844 38358 10.2 23328 3.0 5.5 29541 49.2 15438 30319 9.4 10000 14940 10637 22226 13525 20704 8.6 15745 10000 3.8 32800 1.1 49.2 1.1 49.2 5.5 21230 12106 2.1 7.9 15874 11720 13636 12.6 9.0 5.0 2.2 12259 10000 9.4 1.1 32386 1.1 10000 10228 17742 10144 19759 10.4 21686 49.2 7.9 9.6 9.6 1.8 13837 16446 10042 32804 13.7 12893 10246 16287 1.3 0.0 9450 19738 16472 20815 16235 10.2 1.8 21614 10.4 14055 20390 12.1 16415 32.9 14026 15337 0.6 16726 5.3 3.0 0.6 11213 13.6 13.6 15449 12074 33.6 5.0 12408 4.7 18355 24101 11138 11939 0.6 5.3 22422 32798 10663 31375 29337 10105 19.9 0.0 13576 12446 17456 12.1 1.1 35492 10593 13.7 9.0 11585 3.8 2.7 12506 29613 2.7 19614 5.5 8.4 12960 9.7 8.4 15834 13.5 3.1 11967 5.5 4.7 6.0 8.6 12200 3.1 23269 12827 2.1 9.6 2.7 13281 9.6 13420 28831 3.2 10000 10.4 49.2 9.4 16111 15590 24010 12206 12484 20356 14385 18047 11866 9837 9889 30538 19951 16450 11566 10000 11836 14944 10000 14558 13518 20518 25116 12543 18243 14101 21807 24845 27724 10311 11802 10392 29915 10363 14271 24933 25667 14735 12298 12589 17649 14817 13484 14456 11798 18222 31161 11923 9787 14443 22469 15581 13905 13940 12128 10000 11601 21158 10000 12991 15206 24968 10000 26070 21164 10390 30393 30700 9908 30768 12963 25991 17096 10000 19940 20216 18458 17045 10376 20942 15328 22676 12833 11842 12295 18484 14952 12543 11718 10000 18330 9818 14489 11896 20018 14885 18247 27637 11879 18968 19656 11883 28264 10414 12733 19237 13670 13441 20191 14035 16523 11869 18515 11778 29769 31461 9863 28038 18272 10000 20274 33459 15984 14849 12389 26375 25545 16609 18182 18143 13834 12451 30129 17047 10000 26514 19064 20329 33065 10435 19736 29289 10000 11684 10000 15877 10399 22344 12421 12024 17708 14721 20230 13400 19153 12923 32981 14931 18571 19730 3.2 2.6 2.6 2.0 5.3 15.7 9.7 33.6 15.7 3.0 4.3 9.2 5.1 2.5 12.1 5.4 0.6 13.5 11.9 9.2 2.0 1.5 9.6 3.2 9.2 0.6 9.3 7.4 9.7 5.5 31.3 4.3 3.2 34.9 2.0 3.2 3.2 9.4 2.2 11.9 3.2 7.4 9.2 1.5 1.5 11.9 8.9 33.6 11.9 13.5 2.0 4.3 1.5 9.6 9.6 5.1 34.9 0.6 3.1 1.8 34.9 2.6 8.9 11.9 2.2 7.4 2.2 3.2 11.4 3.2 2.6 11.9 8.9 2.2 9.7 3.2 10.2 15.7 5.3 2.0 5.1 2.9 2.5 2.1 2.0 9.6 8.4 10.2 13.5 33.6 9.2 8.9 2.0 1.5 10.2 6.0 9.6 31.3 7.4 31.3 3.8 11.9 2.2 3.1 2.6 5.4 7.4 2.6 5.3 8.6 8.9 5.4 11.9 3.0 0.6 11.4 8.9 2.2 2.0 1.5 11.9 11.4 9.4 1.8 2.5 2.9 34.9 2.9 11.9 9.6 3.0 8.4 4.3 9.2 0.6 2.1 0.6 8.4 11.9 34.9 2.0 11.9 1.3 5.3 34.9 13.7 4.3 9.4 11.9 2.6 2.1 3.1 7.4 1.8 4.3 0000105377 false N-1A 0000105377 aimef:C000000677Member 2015-10-31 2015-10-31 0000105377 aimef:C000000679Member 2015-10-31 2015-10-31 0000105377 aimef:C000000680Member 2015-10-31 2015-10-31 0000105377 aimef:C000000691Member 2015-10-31 2015-10-31 0000105377 aimef:C000000693Member 2015-10-31 2015-10-31 0000105377 aimef:C000021943Member 2015-10-31 2015-10-31 0000105377 aimef:C000021945Member 2015-10-31 2015-10-31 0000105377 aimef:C000029594Member 2015-10-31 2015-10-31 0000105377 aimef:C000029595Member 2015-10-31 2015-10-31 0000105377 aimef:C000063683Member 2015-10-31 2015-10-31 0000105377 aimef:C000063685Member 2015-10-31 2015-10-31 0000105377 aimef:C000063686Member 2015-10-31 2015-10-31 0000105377 aimef:C000069441Member 2015-10-31 2015-10-31 0000105377 aimef:C000069443Member 2015-10-31 2015-10-31 0000105377 aimef:C000069444Member 2015-10-31 2015-10-31 0000105377 aimef:C000069445Member 2015-10-31 2015-10-31 0000105377 aimef:C000081511Member 2015-10-31 2015-10-31 0000105377 aimef:C000081512Member 2015-10-31 2015-10-31 0000105377 aimef:C000120713Member 2015-10-31 2015-10-31 0000105377 aimef:C000120714Member 2015-10-31 2015-10-31 0000105377 aimef:C000188847Member 2015-10-31 2015-10-31 0000105377 aimef:C000209243Member 2015-10-31 2015-10-31 0000105377 aimef:C000209244Member 2015-10-31 2015-10-31 0000105377 aimef:C000209245Member 2015-10-31 2015-10-31 0000105377 aimef:C000209246Member 2015-10-31 2015-10-31 0000105377 aimef:C000209247Member 2015-10-31 2015-10-31 0000105377 aimef:C000209248Member 2015-10-31 2015-10-31 0000105377 aimef:C000209253Member 2015-10-31 2015-10-31 0000105377 aimef:C000209256Member 2015-10-31 2015-10-31 0000105377 aimef:C000209258Member 2015-10-31 2015-10-31 0000105377 aimef:C000209260Member 2015-10-31 2015-10-31 0000105377 aimef:C000209264Member 2015-10-31 2015-10-31 0000105377 aimef:C000209266Member 2015-10-31 2015-10-31 0000105377 aimef:C000209268Member 2015-10-31 2015-10-31 0000105377 aimef:C000209270Member 2015-10-31 2015-10-31 0000105377 aimef:C000209271Member 2015-10-31 2015-10-31 0000105377 aimef:C000209272Member 2015-10-31 2015-10-31 0000105377 aimef:C000209273Member 2015-10-31 2015-10-31 0000105377 aimef:C000209276Member 2015-10-31 2015-10-31 0000105377 aimef:C000265798Member 2015-10-31 2015-10-31 0000105377 aimef:Russell1000GrowthIndexMember 2015-10-31 2015-10-31 0000105377 aimef:Russell1000IndexMember 2015-10-31 2015-10-31 0000105377 aimef:Russell1000ValueIndexMember 2015-10-31 2015-10-31 0000105377 aimef:Russell3000IndexMember 2015-10-31 2015-10-31 0000105377 us-gaap:StandardPoors500IndexMember 2015-10-31 2015-10-31 0000105377 aimef:C000000677Member 2015-11-01 2017-10-31 0000105377 aimef:C000000679Member 2015-11-01 2017-10-31 0000105377 aimef:C000000680Member 2015-11-01 2017-10-31 0000105377 aimef:C000000691Member 2015-11-01 2017-10-31 0000105377 aimef:C000000693Member 2015-11-01 2017-10-31 0000105377 aimef:C000021943Member 2015-11-01 2017-10-31 0000105377 aimef:C000021945Member 2015-11-01 2017-10-31 0000105377 aimef:C000029594Member 2015-11-01 2017-10-31 0000105377 aimef:C000029595Member 2015-11-01 2017-10-31 0000105377 aimef:C000063683Member 2015-11-01 2017-10-31 0000105377 aimef:C000063685Member 2015-11-01 2017-10-31 0000105377 aimef:C000063686Member 2015-11-01 2017-10-31 0000105377 aimef:C000069441Member 2015-11-01 2017-10-31 0000105377 aimef:C000069443Member 2015-11-01 2017-10-31 0000105377 aimef:C000069444Member 2015-11-01 2017-10-31 0000105377 aimef:C000069445Member 2015-11-01 2017-10-31 0000105377 aimef:C000081511Member 2015-11-01 2017-10-31 0000105377 aimef:C000081512Member 2015-11-01 2017-10-31 0000105377 aimef:C000120713Member 2015-11-01 2017-10-31 0000105377 aimef:C000120714Member 2015-11-01 2017-10-31 0000105377 aimef:C000188847Member 2015-11-01 2017-10-31 0000105377 aimef:C000209243Member 2015-11-01 2017-10-31 0000105377 aimef:C000209244Member 2015-11-01 2017-10-31 0000105377 aimef:C000209245Member 2015-11-01 2017-10-31 0000105377 aimef:C000209246Member 2015-11-01 2017-10-31 0000105377 aimef:C000209247Member 2015-11-01 2017-10-31 0000105377 aimef:C000209248Member 2015-11-01 2017-10-31 0000105377 aimef:C000209253Member 2015-11-01 2017-10-31 0000105377 aimef:C000209256Member 2015-11-01 2017-10-31 0000105377 aimef:C000209258Member 2015-11-01 2017-10-31 0000105377 aimef:C000209260Member 2015-11-01 2017-10-31 0000105377 aimef:C000209264Member 2015-11-01 2017-10-31 0000105377 aimef:C000209266Member 2015-11-01 2017-10-31 0000105377 aimef:C000209268Member 2015-11-01 2017-10-31 0000105377 aimef:C000209270Member 2015-11-01 2017-10-31 0000105377 aimef:C000209271Member 2015-11-01 2017-10-31 0000105377 aimef:C000209272Member 2015-11-01 2017-10-31 0000105377 aimef:C000209273Member 2015-11-01 2017-10-31 0000105377 aimef:C000209276Member 2015-11-01 2017-10-31 0000105377 aimef:C000265798Member 2015-11-01 2017-10-31 0000105377 aimef:Russell1000GrowthIndexMember 2015-11-01 2017-10-31 0000105377 aimef:Russell1000IndexMember 2015-11-01 2017-10-31 0000105377 aimef:Russell1000ValueIndexMember 2015-11-01 2017-10-31 0000105377 aimef:Russell3000IndexMember 2015-11-01 2017-10-31 0000105377 us-gaap:StandardPoors500IndexMember 2015-11-01 2017-10-31 0000105377 aimef:C000000677Member 2015-11-01 2018-10-31 0000105377 aimef:C000000679Member 2015-11-01 2018-10-31 0000105377 aimef:C000000680Member 2015-11-01 2018-10-31 0000105377 aimef:C000000691Member 2015-11-01 2018-10-31 0000105377 aimef:C000000693Member 2015-11-01 2018-10-31 0000105377 aimef:C000021943Member 2015-11-01 2018-10-31 0000105377 aimef:C000021945Member 2015-11-01 2018-10-31 0000105377 aimef:C000029594Member 2015-11-01 2018-10-31 0000105377 aimef:C000029595Member 2015-11-01 2018-10-31 0000105377 aimef:C000063683Member 2015-11-01 2018-10-31 0000105377 aimef:C000063685Member 2015-11-01 2018-10-31 0000105377 aimef:C000063686Member 2015-11-01 2018-10-31 0000105377 aimef:C000069441Member 2015-11-01 2018-10-31 0000105377 aimef:C000069443Member 2015-11-01 2018-10-31 0000105377 aimef:C000069444Member 2015-11-01 2018-10-31 0000105377 aimef:C000069445Member 2015-11-01 2018-10-31 0000105377 aimef:C000081511Member 2015-11-01 2018-10-31 0000105377 aimef:C000081512Member 2015-11-01 2018-10-31 0000105377 aimef:C000120713Member 2015-11-01 2018-10-31 0000105377 aimef:C000120714Member 2015-11-01 2018-10-31 0000105377 aimef:C000188847Member 2015-11-01 2018-10-31 0000105377 aimef:C000209243Member 2015-11-01 2018-10-31 0000105377 aimef:C000209244Member 2015-11-01 2018-10-31 0000105377 aimef:C000209245Member 2015-11-01 2018-10-31 0000105377 aimef:C000209246Member 2015-11-01 2018-10-31 0000105377 aimef:C000209247Member 2015-11-01 2018-10-31 0000105377 aimef:C000209248Member 2015-11-01 2018-10-31 0000105377 aimef:C000209253Member 2015-11-01 2018-10-31 0000105377 aimef:C000209256Member 2015-11-01 2018-10-31 0000105377 aimef:C000209258Member 2015-11-01 2018-10-31 0000105377 aimef:C000209260Member 2015-11-01 2018-10-31 0000105377 aimef:C000209264Member 2015-11-01 2018-10-31 0000105377 aimef:C000209266Member 2015-11-01 2018-10-31 0000105377 aimef:C000209268Member 2015-11-01 2018-10-31 0000105377 aimef:C000209270Member 2015-11-01 2018-10-31 0000105377 aimef:C000209271Member 2015-11-01 2018-10-31 0000105377 aimef:C000209272Member 2015-11-01 2018-10-31 0000105377 aimef:C000209273Member 2015-11-01 2018-10-31 0000105377 aimef:C000209276Member 2015-11-01 2018-10-31 0000105377 aimef:C000265798Member 2015-11-01 2018-10-31 0000105377 aimef:Russell1000GrowthIndexMember 2015-11-01 2018-10-31 0000105377 aimef:Russell1000IndexMember 2015-11-01 2018-10-31 0000105377 aimef:Russell1000ValueIndexMember 2015-11-01 2018-10-31 0000105377 aimef:Russell3000IndexMember 2015-11-01 2018-10-31 0000105377 us-gaap:StandardPoors500IndexMember 2015-11-01 2018-10-31 0000105377 aimef:C000000677Member 2015-11-01 2019-10-31 0000105377 aimef:C000000679Member 2015-11-01 2019-10-31 0000105377 aimef:C000000680Member 2015-11-01 2019-10-31 0000105377 aimef:C000000691Member 2015-11-01 2019-10-31 0000105377 aimef:C000000693Member 2015-11-01 2019-10-31 0000105377 aimef:C000021943Member 2015-11-01 2019-10-31 0000105377 aimef:C000021945Member 2015-11-01 2019-10-31 0000105377 aimef:C000029594Member 2015-11-01 2019-10-31 0000105377 aimef:C000029595Member 2015-11-01 2019-10-31 0000105377 aimef:C000063683Member 2015-11-01 2019-10-31 0000105377 aimef:C000063685Member 2015-11-01 2019-10-31 0000105377 aimef:C000063686Member 2015-11-01 2019-10-31 0000105377 aimef:C000069441Member 2015-11-01 2019-10-31 0000105377 aimef:C000069443Member 2015-11-01 2019-10-31 0000105377 aimef:C000069444Member 2015-11-01 2019-10-31 0000105377 aimef:C000069445Member 2015-11-01 2019-10-31 0000105377 aimef:C000081511Member 2015-11-01 2019-10-31 0000105377 aimef:C000081512Member 2015-11-01 2019-10-31 0000105377 aimef:C000120713Member 2015-11-01 2019-10-31 0000105377 aimef:C000120714Member 2015-11-01 2019-10-31 0000105377 aimef:C000188847Member 2015-11-01 2019-10-31 0000105377 aimef:C000209243Member 2015-11-01 2019-10-31 0000105377 aimef:C000209244Member 2015-11-01 2019-10-31 0000105377 aimef:C000209245Member 2015-11-01 2019-10-31 0000105377 aimef:C000209246Member 2015-11-01 2019-10-31 0000105377 aimef:C000209247Member 2015-11-01 2019-10-31 0000105377 aimef:C000209248Member 2015-11-01 2019-10-31 0000105377 aimef:C000209253Member 2015-11-01 2019-10-31 0000105377 aimef:C000209256Member 2015-11-01 2019-10-31 0000105377 aimef:C000209258Member 2015-11-01 2019-10-31 0000105377 aimef:C000209260Member 2015-11-01 2019-10-31 0000105377 aimef:C000209264Member 2015-11-01 2019-10-31 0000105377 aimef:C000209266Member 2015-11-01 2019-10-31 0000105377 aimef:C000209268Member 2015-11-01 2019-10-31 0000105377 aimef:C000209270Member 2015-11-01 2019-10-31 0000105377 aimef:C000209271Member 2015-11-01 2019-10-31 0000105377 aimef:C000209272Member 2015-11-01 2019-10-31 0000105377 aimef:C000209273Member 2015-11-01 2019-10-31 0000105377 aimef:C000209276Member 2015-11-01 2019-10-31 0000105377 aimef:C000265798Member 2015-11-01 2019-10-31 0000105377 aimef:Russell1000GrowthIndexMember 2015-11-01 2019-10-31 0000105377 aimef:Russell1000IndexMember 2015-11-01 2019-10-31 0000105377 aimef:Russell1000ValueIndexMember 2015-11-01 2019-10-31 0000105377 aimef:Russell3000IndexMember 2015-11-01 2019-10-31 0000105377 us-gaap:StandardPoors500IndexMember 2015-11-01 2019-10-31 0000105377 aimef:C000000677Member 2015-11-01 2021-10-31 0000105377 aimef:C000000679Member 2015-11-01 2021-10-31 0000105377 aimef:C000000680Member 2015-11-01 2021-10-31 0000105377 aimef:C000000691Member 2015-11-01 2021-10-31 0000105377 aimef:C000000693Member 2015-11-01 2021-10-31 0000105377 aimef:C000021943Member 2015-11-01 2021-10-31 0000105377 aimef:C000021945Member 2015-11-01 2021-10-31 0000105377 aimef:C000029594Member 2015-11-01 2021-10-31 0000105377 aimef:C000029595Member 2015-11-01 2021-10-31 0000105377 aimef:C000063683Member 2015-11-01 2021-10-31 0000105377 aimef:C000063685Member 2015-11-01 2021-10-31 0000105377 aimef:C000063686Member 2015-11-01 2021-10-31 0000105377 aimef:C000069441Member 2015-11-01 2021-10-31 0000105377 aimef:C000069443Member 2015-11-01 2021-10-31 0000105377 aimef:C000069444Member 2015-11-01 2021-10-31 0000105377 aimef:C000069445Member 2015-11-01 2021-10-31 0000105377 aimef:C000081511Member 2015-11-01 2021-10-31 0000105377 aimef:C000081512Member 2015-11-01 2021-10-31 0000105377 aimef:C000120713Member 2015-11-01 2021-10-31 0000105377 aimef:C000120714Member 2015-11-01 2021-10-31 0000105377 aimef:C000188847Member 2015-11-01 2021-10-31 0000105377 aimef:C000209243Member 2015-11-01 2021-10-31 0000105377 aimef:C000209244Member 2015-11-01 2021-10-31 0000105377 aimef:C000209245Member 2015-11-01 2021-10-31 0000105377 aimef:C000209246Member 2015-11-01 2021-10-31 0000105377 aimef:C000209247Member 2015-11-01 2021-10-31 0000105377 aimef:C000209248Member 2015-11-01 2021-10-31 0000105377 aimef:C000209253Member 2015-11-01 2021-10-31 0000105377 aimef:C000209256Member 2015-11-01 2021-10-31 0000105377 aimef:C000209258Member 2015-11-01 2021-10-31 0000105377 aimef:C000209260Member 2015-11-01 2021-10-31 0000105377 aimef:C000209264Member 2015-11-01 2021-10-31 0000105377 aimef:C000209266Member 2015-11-01 2021-10-31 0000105377 aimef:C000209268Member 2015-11-01 2021-10-31 0000105377 aimef:C000209270Member 2015-11-01 2021-10-31 0000105377 aimef:C000209271Member 2015-11-01 2021-10-31 0000105377 aimef:C000209272Member 2015-11-01 2021-10-31 0000105377 aimef:C000209273Member 2015-11-01 2021-10-31 0000105377 aimef:C000209276Member 2015-11-01 2021-10-31 0000105377 aimef:C000265798Member 2015-11-01 2021-10-31 0000105377 aimef:Russell1000GrowthIndexMember 2015-11-01 2021-10-31 0000105377 aimef:Russell1000IndexMember 2015-11-01 2021-10-31 0000105377 aimef:Russell1000ValueIndexMember 2015-11-01 2021-10-31 0000105377 aimef:Russell3000IndexMember 2015-11-01 2021-10-31 0000105377 us-gaap:StandardPoors500IndexMember 2015-11-01 2021-10-31 0000105377 aimef:C000000677Member 2015-11-01 2022-10-31 0000105377 aimef:C000000679Member 2015-11-01 2022-10-31 0000105377 aimef:C000000680Member 2015-11-01 2022-10-31 0000105377 aimef:C000000691Member 2015-11-01 2022-10-31 0000105377 aimef:C000000693Member 2015-11-01 2022-10-31 0000105377 aimef:C000021943Member 2015-11-01 2022-10-31 0000105377 aimef:C000021945Member 2015-11-01 2022-10-31 0000105377 aimef:C000029594Member 2015-11-01 2022-10-31 0000105377 aimef:C000029595Member 2015-11-01 2022-10-31 0000105377 aimef:C000063683Member 2015-11-01 2022-10-31 0000105377 aimef:C000063685Member 2015-11-01 2022-10-31 0000105377 aimef:C000063686Member 2015-11-01 2022-10-31 0000105377 aimef:C000069441Member 2015-11-01 2022-10-31 0000105377 aimef:C000069443Member 2015-11-01 2022-10-31 0000105377 aimef:C000069444Member 2015-11-01 2022-10-31 0000105377 aimef:C000069445Member 2015-11-01 2022-10-31 0000105377 aimef:C000081511Member 2015-11-01 2022-10-31 0000105377 aimef:C000081512Member 2015-11-01 2022-10-31 0000105377 aimef:C000120713Member 2015-11-01 2022-10-31 0000105377 aimef:C000120714Member 2015-11-01 2022-10-31 0000105377 aimef:C000188847Member 2015-11-01 2022-10-31 0000105377 aimef:C000209243Member 2015-11-01 2022-10-31 0000105377 aimef:C000209244Member 2015-11-01 2022-10-31 0000105377 aimef:C000209245Member 2015-11-01 2022-10-31 0000105377 aimef:C000209246Member 2015-11-01 2022-10-31 0000105377 aimef:C000209247Member 2015-11-01 2022-10-31 0000105377 aimef:C000209248Member 2015-11-01 2022-10-31 0000105377 aimef:C000209253Member 2015-11-01 2022-10-31 0000105377 aimef:C000209256Member 2015-11-01 2022-10-31 0000105377 aimef:C000209258Member 2015-11-01 2022-10-31 0000105377 aimef:C000209260Member 2015-11-01 2022-10-31 0000105377 aimef:C000209264Member 2015-11-01 2022-10-31 0000105377 aimef:C000209266Member 2015-11-01 2022-10-31 0000105377 aimef:C000209268Member 2015-11-01 2022-10-31 0000105377 aimef:C000209270Member 2015-11-01 2022-10-31 0000105377 aimef:C000209271Member 2015-11-01 2022-10-31 0000105377 aimef:C000209272Member 2015-11-01 2022-10-31 0000105377 aimef:C000209273Member 2015-11-01 2022-10-31 0000105377 aimef:C000209276Member 2015-11-01 2022-10-31 0000105377 aimef:C000265798Member 2015-11-01 2022-10-31 0000105377 aimef:Russell1000GrowthIndexMember 2015-11-01 2022-10-31 0000105377 aimef:Russell1000IndexMember 2015-11-01 2022-10-31 0000105377 aimef:Russell1000ValueIndexMember 2015-11-01 2022-10-31 0000105377 aimef:Russell3000IndexMember 2015-11-01 2022-10-31 0000105377 us-gaap:StandardPoors500IndexMember 2015-11-01 2022-10-31 0000105377 aimef:C000000677Member 2015-11-01 2023-10-31 0000105377 aimef:C000000679Member 2015-11-01 2023-10-31 0000105377 aimef:C000000680Member 2015-11-01 2023-10-31 0000105377 aimef:C000000691Member 2015-11-01 2023-10-31 0000105377 aimef:C000000693Member 2015-11-01 2023-10-31 0000105377 aimef:C000021943Member 2015-11-01 2023-10-31 0000105377 aimef:C000021945Member 2015-11-01 2023-10-31 0000105377 aimef:C000029594Member 2015-11-01 2023-10-31 0000105377 aimef:C000029595Member 2015-11-01 2023-10-31 0000105377 aimef:C000063683Member 2015-11-01 2023-10-31 0000105377 aimef:C000063685Member 2015-11-01 2023-10-31 0000105377 aimef:C000063686Member 2015-11-01 2023-10-31 0000105377 aimef:C000069441Member 2015-11-01 2023-10-31 0000105377 aimef:C000069443Member 2015-11-01 2023-10-31 0000105377 aimef:C000069444Member 2015-11-01 2023-10-31 0000105377 aimef:C000069445Member 2015-11-01 2023-10-31 0000105377 aimef:C000081511Member 2015-11-01 2023-10-31 0000105377 aimef:C000081512Member 2015-11-01 2023-10-31 0000105377 aimef:C000120713Member 2015-11-01 2023-10-31 0000105377 aimef:C000120714Member 2015-11-01 2023-10-31 0000105377 aimef:C000188847Member 2015-11-01 2023-10-31 0000105377 aimef:C000209243Member 2015-11-01 2023-10-31 0000105377 aimef:C000209244Member 2015-11-01 2023-10-31 0000105377 aimef:C000209245Member 2015-11-01 2023-10-31 0000105377 aimef:C000209246Member 2015-11-01 2023-10-31 0000105377 aimef:C000209247Member 2015-11-01 2023-10-31 0000105377 aimef:C000209248Member 2015-11-01 2023-10-31 0000105377 aimef:C000209253Member 2015-11-01 2023-10-31 0000105377 aimef:C000209256Member 2015-11-01 2023-10-31 0000105377 aimef:C000209258Member 2015-11-01 2023-10-31 0000105377 aimef:C000209260Member 2015-11-01 2023-10-31 0000105377 aimef:C000209264Member 2015-11-01 2023-10-31 0000105377 aimef:C000209266Member 2015-11-01 2023-10-31 0000105377 aimef:C000209268Member 2015-11-01 2023-10-31 0000105377 aimef:C000209270Member 2015-11-01 2023-10-31 0000105377 aimef:C000209271Member 2015-11-01 2023-10-31 0000105377 aimef:C000209272Member 2015-11-01 2023-10-31 0000105377 aimef:C000209273Member 2015-11-01 2023-10-31 0000105377 aimef:C000209276Member 2015-11-01 2023-10-31 0000105377 aimef:C000265798Member 2015-11-01 2023-10-31 0000105377 aimef:Russell1000GrowthIndexMember 2015-11-01 2023-10-31 0000105377 aimef:Russell1000IndexMember 2015-11-01 2023-10-31 0000105377 aimef:Russell1000ValueIndexMember 2015-11-01 2023-10-31 0000105377 aimef:Russell3000IndexMember 2015-11-01 2023-10-31 0000105377 us-gaap:StandardPoors500IndexMember 2015-11-01 2023-10-31 0000105377 aimef:C000000677Member 2015-11-01 2024-10-31 0000105377 aimef:C000000679Member 2015-11-01 2024-10-31 0000105377 aimef:C000000680Member 2015-11-01 2024-10-31 0000105377 aimef:C000000691Member 2015-11-01 2024-10-31 0000105377 aimef:C000000693Member 2015-11-01 2024-10-31 0000105377 aimef:C000021943Member 2015-11-01 2024-10-31 0000105377 aimef:C000021945Member 2015-11-01 2024-10-31 0000105377 aimef:C000029594Member 2015-11-01 2024-10-31 0000105377 aimef:C000029595Member 2015-11-01 2024-10-31 0000105377 aimef:C000063683Member 2015-11-01 2024-10-31 0000105377 aimef:C000063685Member 2015-11-01 2024-10-31 0000105377 aimef:C000063686Member 2015-11-01 2024-10-31 0000105377 aimef:C000069441Member 2015-11-01 2024-10-31 0000105377 aimef:C000069443Member 2015-11-01 2024-10-31 0000105377 aimef:C000069444Member 2015-11-01 2024-10-31 0000105377 aimef:C000069445Member 2015-11-01 2024-10-31 0000105377 aimef:C000081511Member 2015-11-01 2024-10-31 0000105377 aimef:C000081512Member 2015-11-01 2024-10-31 0000105377 aimef:C000120713Member 2015-11-01 2024-10-31 0000105377 aimef:C000120714Member 2015-11-01 2024-10-31 0000105377 aimef:C000188847Member 2015-11-01 2024-10-31 0000105377 aimef:C000209243Member 2015-11-01 2024-10-31 0000105377 aimef:C000209244Member 2015-11-01 2024-10-31 0000105377 aimef:C000209245Member 2015-11-01 2024-10-31 0000105377 aimef:C000209246Member 2015-11-01 2024-10-31 0000105377 aimef:C000209247Member 2015-11-01 2024-10-31 0000105377 aimef:C000209248Member 2015-11-01 2024-10-31 0000105377 aimef:C000209253Member 2015-11-01 2024-10-31 0000105377 aimef:C000209256Member 2015-11-01 2024-10-31 0000105377 aimef:C000209258Member 2015-11-01 2024-10-31 0000105377 aimef:C000209260Member 2015-11-01 2024-10-31 0000105377 aimef:C000209264Member 2015-11-01 2024-10-31 0000105377 aimef:C000209266Member 2015-11-01 2024-10-31 0000105377 aimef:C000209268Member 2015-11-01 2024-10-31 0000105377 aimef:C000209270Member 2015-11-01 2024-10-31 0000105377 aimef:C000209271Member 2015-11-01 2024-10-31 0000105377 aimef:C000209272Member 2015-11-01 2024-10-31 0000105377 aimef:C000209273Member 2015-11-01 2024-10-31 0000105377 aimef:C000209276Member 2015-11-01 2024-10-31 0000105377 aimef:C000265798Member 2015-11-01 2024-10-31 0000105377 aimef:Russell1000GrowthIndexMember 2015-11-01 2024-10-31 0000105377 aimef:Russell1000IndexMember 2015-11-01 2024-10-31 0000105377 aimef:Russell1000ValueIndexMember 2015-11-01 2024-10-31 0000105377 aimef:Russell3000IndexMember 2015-11-01 2024-10-31 0000105377 us-gaap:StandardPoors500IndexMember 2015-11-01 2024-10-31 0000105377 2024-11-01 2025-10-31 0000105377 aimef:C000000677Member 2015-11-01 2020-10-31 0000105377 aimef:C000000679Member 2015-11-01 2020-10-31 0000105377 aimef:C000000680Member 2015-11-01 2020-10-31 0000105377 aimef:C000000691Member 2015-11-01 2020-10-31 0000105377 aimef:C000000693Member 2015-11-01 2020-10-31 0000105377 aimef:C000021943Member 2015-11-01 2020-10-31 0000105377 aimef:C000021945Member 2015-11-01 2020-10-31 0000105377 aimef:C000029594Member 2015-11-01 2020-10-31 0000105377 aimef:C000029595Member 2015-11-01 2020-10-31 0000105377 aimef:C000063683Member 2015-11-01 2020-10-31 0000105377 aimef:C000063685Member 2015-11-01 2020-10-31 0000105377 aimef:C000063686Member 2015-11-01 2020-10-31 0000105377 aimef:C000069441Member 2015-11-01 2020-10-31 0000105377 aimef:C000069443Member 2015-11-01 2020-10-31 0000105377 aimef:C000069444Member 2015-11-01 2020-10-31 0000105377 aimef:C000069445Member 2015-11-01 2020-10-31 0000105377 aimef:C000081511Member 2015-11-01 2020-10-31 0000105377 aimef:C000081512Member 2015-11-01 2020-10-31 0000105377 aimef:C000120713Member 2015-11-01 2020-10-31 0000105377 aimef:C000120714Member 2015-11-01 2020-10-31 0000105377 aimef:C000188847Member 2015-11-01 2020-10-31 0000105377 aimef:C000209243Member 2015-11-01 2020-10-31 0000105377 aimef:C000209244Member 2015-11-01 2020-10-31 0000105377 aimef:C000209245Member 2015-11-01 2020-10-31 0000105377 aimef:C000209246Member 2015-11-01 2020-10-31 0000105377 aimef:C000209247Member 2015-11-01 2020-10-31 0000105377 aimef:C000209248Member 2015-11-01 2020-10-31 0000105377 aimef:C000209253Member 2015-11-01 2020-10-31 0000105377 aimef:C000209256Member 2015-11-01 2020-10-31 0000105377 aimef:C000209258Member 2015-11-01 2020-10-31 0000105377 aimef:C000209260Member 2015-11-01 2020-10-31 0000105377 aimef:C000209264Member 2015-11-01 2020-10-31 0000105377 aimef:C000209266Member 2015-11-01 2020-10-31 0000105377 aimef:C000209268Member 2015-11-01 2020-10-31 0000105377 aimef:C000209270Member 2015-11-01 2020-10-31 0000105377 aimef:C000209271Member 2015-11-01 2020-10-31 0000105377 aimef:C000209272Member 2015-11-01 2020-10-31 0000105377 aimef:C000209273Member 2015-11-01 2020-10-31 0000105377 aimef:C000209276Member 2015-11-01 2020-10-31 0000105377 aimef:C000265798Member 2015-11-01 2020-10-31 0000105377 aimef:Russell1000GrowthIndexMember 2015-11-01 2020-10-31 0000105377 aimef:Russell1000IndexMember 2015-11-01 2020-10-31 0000105377 aimef:Russell1000ValueIndexMember 2015-11-01 2020-10-31 0000105377 aimef:Russell3000IndexMember 2015-11-01 2020-10-31 0000105377 us-gaap:StandardPoors500IndexMember 2015-11-01 2020-10-31 0000105377 aimef:C000000677Member 2020-11-01 2025-10-31 0000105377 aimef:C000000677Member oef:WithoutSalesLoadMember 2020-11-01 2025-10-31 0000105377 aimef:C000000679Member 2020-11-01 2025-10-31 0000105377 aimef:C000000679Member oef:WithoutSalesLoadMember 2020-11-01 2025-10-31 0000105377 aimef:C000000680Member 2020-11-01 2025-10-31 0000105377 aimef:C000000691Member 2020-11-01 2025-10-31 0000105377 aimef:C000000691Member oef:WithoutSalesLoadMember 2020-11-01 2025-10-31 0000105377 aimef:C000000693Member 2020-11-01 2025-10-31 0000105377 aimef:C000000693Member oef:WithoutSalesLoadMember 2020-11-01 2025-10-31 0000105377 aimef:C000021943Member 2020-11-01 2025-10-31 0000105377 aimef:C000021945Member 2020-11-01 2025-10-31 0000105377 aimef:C000029594Member 2020-11-01 2025-10-31 0000105377 aimef:C000029595Member 2020-11-01 2025-10-31 0000105377 aimef:C000063683Member 2020-11-01 2025-10-31 0000105377 aimef:C000063683Member oef:WithoutSalesLoadMember 2020-11-01 2025-10-31 0000105377 aimef:C000063685Member 2020-11-01 2025-10-31 0000105377 aimef:C000063685Member oef:WithoutSalesLoadMember 2020-11-01 2025-10-31 0000105377 aimef:C000063686Member 2020-11-01 2025-10-31 0000105377 aimef:C000069441Member 2020-11-01 2025-10-31 0000105377 aimef:C000069443Member 2020-11-01 2025-10-31 0000105377 aimef:C000069444Member 2020-11-01 2025-10-31 0000105377 aimef:C000069445Member 2020-11-01 2025-10-31 0000105377 aimef:C000081511Member 2020-11-01 2025-10-31 0000105377 aimef:C000081512Member 2020-11-01 2025-10-31 0000105377 aimef:C000120713Member 2020-11-01 2025-10-31 0000105377 aimef:C000120714Member 2020-11-01 2025-10-31 0000105377 aimef:C000188847Member 2020-11-01 2025-10-31 0000105377 aimef:C000209243Member 2020-11-01 2025-10-31 0000105377 aimef:C000209244Member 2020-11-01 2025-10-31 0000105377 aimef:C000209245Member 2020-11-01 2025-10-31 0000105377 aimef:C000209246Member 2020-11-01 2025-10-31 0000105377 aimef:C000209247Member 2020-11-01 2025-10-31 0000105377 aimef:C000209247Member oef:WithoutSalesLoadMember 2020-11-01 2025-10-31 0000105377 aimef:C000209248Member 2020-11-01 2025-10-31 0000105377 aimef:C000209248Member oef:WithoutSalesLoadMember 2020-11-01 2025-10-31 0000105377 aimef:C000209253Member 2020-11-01 2025-10-31 0000105377 aimef:C000209253Member oef:WithoutSalesLoadMember 2020-11-01 2025-10-31 0000105377 aimef:C000209256Member 2020-11-01 2025-10-31 0000105377 aimef:C000209258Member 2020-11-01 2025-10-31 0000105377 aimef:C000209260Member 2020-11-01 2025-10-31 0000105377 aimef:C000209264Member 2020-11-01 2025-10-31 0000105377 aimef:C000209266Member 2020-11-01 2025-10-31 0000105377 aimef:C000209266Member oef:WithoutSalesLoadMember 2020-11-01 2025-10-31 0000105377 aimef:C000209268Member 2020-11-01 2025-10-31 0000105377 aimef:C000209268Member oef:WithoutSalesLoadMember 2020-11-01 2025-10-31 0000105377 aimef:C000209270Member 2020-11-01 2025-10-31 0000105377 aimef:C000209271Member 2020-11-01 2025-10-31 0000105377 aimef:C000209272Member 2020-11-01 2025-10-31 0000105377 aimef:C000209273Member 2020-11-01 2025-10-31 0000105377 aimef:C000209276Member 2020-11-01 2025-10-31 0000105377 aimef:C000209276Member oef:WithoutSalesLoadMember 2020-11-01 2025-10-31 0000105377 aimef:C000265798Member 2020-11-01 2025-10-31 0000105377 aimef:Russell1000GrowthIndexMember 2020-11-01 2025-10-31 0000105377 aimef:Russell1000IndexMember 2020-11-01 2025-10-31 0000105377 aimef:Russell1000ValueIndexMember 2020-11-01 2025-10-31 0000105377 aimef:Russell3000IndexMember 2020-11-01 2025-10-31 0000105377 us-gaap:StandardPoors500IndexMember 2020-11-01 2025-10-31 0000105377 aimef:C000000677Member 2015-11-01 2016-10-31 0000105377 aimef:C000000679Member 2015-11-01 2016-10-31 0000105377 aimef:C000000680Member 2015-11-01 2016-10-31 0000105377 aimef:C000000691Member 2015-11-01 2016-10-31 0000105377 aimef:C000000693Member 2015-11-01 2016-10-31 0000105377 aimef:C000021943Member 2015-11-01 2016-10-31 0000105377 aimef:C000021945Member 2015-11-01 2016-10-31 0000105377 aimef:C000029594Member 2015-11-01 2016-10-31 0000105377 aimef:C000029595Member 2015-11-01 2016-10-31 0000105377 aimef:C000063683Member 2015-11-01 2016-10-31 0000105377 aimef:C000063685Member 2015-11-01 2016-10-31 0000105377 aimef:C000063686Member 2015-11-01 2016-10-31 0000105377 aimef:C000069441Member 2015-11-01 2016-10-31 0000105377 aimef:C000069443Member 2015-11-01 2016-10-31 0000105377 aimef:C000069444Member 2015-11-01 2016-10-31 0000105377 aimef:C000069445Member 2015-11-01 2016-10-31 0000105377 aimef:C000081511Member 2015-11-01 2016-10-31 0000105377 aimef:C000081512Member 2015-11-01 2016-10-31 0000105377 aimef:C000120713Member 2015-11-01 2016-10-31 0000105377 aimef:C000120714Member 2015-11-01 2016-10-31 0000105377 aimef:C000188847Member 2015-11-01 2016-10-31 0000105377 aimef:C000209243Member 2015-11-01 2016-10-31 0000105377 aimef:C000209244Member 2015-11-01 2016-10-31 0000105377 aimef:C000209245Member 2015-11-01 2016-10-31 0000105377 aimef:C000209246Member 2015-11-01 2016-10-31 0000105377 aimef:C000209247Member 2015-11-01 2016-10-31 0000105377 aimef:C000209248Member 2015-11-01 2016-10-31 0000105377 aimef:C000209253Member 2015-11-01 2016-10-31 0000105377 aimef:C000209256Member 2015-11-01 2016-10-31 0000105377 aimef:C000209258Member 2015-11-01 2016-10-31 0000105377 aimef:C000209260Member 2015-11-01 2016-10-31 0000105377 aimef:C000209264Member 2015-11-01 2016-10-31 0000105377 aimef:C000209266Member 2015-11-01 2016-10-31 0000105377 aimef:C000209268Member 2015-11-01 2016-10-31 0000105377 aimef:C000209270Member 2015-11-01 2016-10-31 0000105377 aimef:C000209271Member 2015-11-01 2016-10-31 0000105377 aimef:C000209272Member 2015-11-01 2016-10-31 0000105377 aimef:C000209273Member 2015-11-01 2016-10-31 0000105377 aimef:C000209276Member 2015-11-01 2016-10-31 0000105377 aimef:C000265798Member 2015-11-01 2016-10-31 0000105377 aimef:Russell1000GrowthIndexMember 2015-11-01 2016-10-31 0000105377 aimef:Russell1000IndexMember 2015-11-01 2016-10-31 0000105377 aimef:Russell1000ValueIndexMember 2015-11-01 2016-10-31 0000105377 aimef:Russell3000IndexMember 2015-11-01 2016-10-31 0000105377 us-gaap:StandardPoors500IndexMember 2015-11-01 2016-10-31 0000105377 aimef:C000000677Member 2024-11-01 2025-10-31 0000105377 aimef:C000000677Member oef:WithoutSalesLoadMember 2024-11-01 2025-10-31 0000105377 aimef:C000000679Member 2024-11-01 2025-10-31 0000105377 aimef:C000000679Member oef:WithoutSalesLoadMember 2024-11-01 2025-10-31 0000105377 aimef:C000000680Member 2024-11-01 2025-10-31 0000105377 aimef:C000000691Member 2024-11-01 2025-10-31 0000105377 aimef:C000000691Member oef:WithoutSalesLoadMember 2024-11-01 2025-10-31 0000105377 aimef:C000000693Member 2024-11-01 2025-10-31 0000105377 aimef:C000000693Member oef:WithoutSalesLoadMember 2024-11-01 2025-10-31 0000105377 aimef:C000021943Member 2024-11-01 2025-10-31 0000105377 aimef:C000021945Member 2024-11-01 2025-10-31 0000105377 aimef:C000029594Member 2024-11-01 2025-10-31 0000105377 aimef:C000029595Member 2024-11-01 2025-10-31 0000105377 aimef:C000063683Member 2024-11-01 2025-10-31 0000105377 aimef:C000063683Member oef:WithoutSalesLoadMember 2024-11-01 2025-10-31 0000105377 aimef:C000063685Member 2024-11-01 2025-10-31 0000105377 aimef:C000063685Member oef:WithoutSalesLoadMember 2024-11-01 2025-10-31 0000105377 aimef:C000063686Member 2024-11-01 2025-10-31 0000105377 aimef:C000069441Member 2024-11-01 2025-10-31 0000105377 aimef:C000069443Member 2024-11-01 2025-10-31 0000105377 aimef:C000069444Member 2024-11-01 2025-10-31 0000105377 aimef:C000069445Member 2024-11-01 2025-10-31 0000105377 aimef:C000081511Member 2024-11-01 2025-10-31 0000105377 aimef:C000081512Member 2024-11-01 2025-10-31 0000105377 aimef:C000120713Member 2024-11-01 2025-10-31 0000105377 aimef:C000120714Member 2024-11-01 2025-10-31 0000105377 aimef:C000188847Member 2024-11-01 2025-10-31 0000105377 aimef:C000209243Member 2024-11-01 2025-10-31 0000105377 aimef:C000209244Member 2024-11-01 2025-10-31 0000105377 aimef:C000209245Member 2024-11-01 2025-10-31 0000105377 aimef:C000209246Member 2024-11-01 2025-10-31 0000105377 aimef:C000209247Member 2024-11-01 2025-10-31 0000105377 aimef:C000209247Member oef:WithoutSalesLoadMember 2024-11-01 2025-10-31 0000105377 aimef:C000209248Member 2024-11-01 2025-10-31 0000105377 aimef:C000209248Member oef:WithoutSalesLoadMember 2024-11-01 2025-10-31 0000105377 aimef:C000209253Member 2024-11-01 2025-10-31 0000105377 aimef:C000209253Member oef:WithoutSalesLoadMember 2024-11-01 2025-10-31 0000105377 aimef:C000209256Member 2024-11-01 2025-10-31 0000105377 aimef:C000209258Member 2024-11-01 2025-10-31 0000105377 aimef:C000209260Member 2024-11-01 2025-10-31 0000105377 aimef:C000209264Member 2024-11-01 2025-10-31 0000105377 aimef:C000209266Member 2024-11-01 2025-10-31 0000105377 aimef:C000209266Member oef:WithoutSalesLoadMember 2024-11-01 2025-10-31 0000105377 aimef:C000209268Member 2024-11-01 2025-10-31 0000105377 aimef:C000209268Member oef:WithoutSalesLoadMember 2024-11-01 2025-10-31 0000105377 aimef:C000209270Member 2024-11-01 2025-10-31 0000105377 aimef:C000209271Member 2024-11-01 2025-10-31 0000105377 aimef:C000209272Member 2024-11-01 2025-10-31 0000105377 aimef:C000209273Member 2024-11-01 2025-10-31 0000105377 aimef:C000209276Member 2024-11-01 2025-10-31 0000105377 aimef:C000209276Member oef:WithoutSalesLoadMember 2024-11-01 2025-10-31 0000105377 aimef:C000265798Member 2024-11-01 2025-10-31 0000105377 aimef:Russell1000GrowthIndexMember 2024-11-01 2025-10-31 0000105377 aimef:Russell1000IndexMember 2024-11-01 2025-10-31 0000105377 aimef:Russell1000ValueIndexMember 2024-11-01 2025-10-31 0000105377 aimef:Russell3000IndexMember 2024-11-01 2025-10-31 0000105377 us-gaap:StandardPoors500IndexMember 2024-11-01 2025-10-31 0000105377 aimef:C000000677Member 2015-11-01 2025-10-31 0000105377 aimef:C000000677Member oef:WithoutSalesLoadMember 2015-11-01 2025-10-31 0000105377 aimef:C000000679Member 2015-11-01 2025-10-31 0000105377 aimef:C000000679Member oef:WithoutSalesLoadMember 2015-11-01 2025-10-31 0000105377 aimef:C000000680Member 2015-11-01 2025-10-31 0000105377 aimef:C000000691Member 2015-11-01 2025-10-31 0000105377 aimef:C000000691Member oef:WithoutSalesLoadMember 2015-11-01 2025-10-31 0000105377 aimef:C000000693Member 2015-11-01 2025-10-31 0000105377 aimef:C000000693Member oef:WithoutSalesLoadMember 2015-11-01 2025-10-31 0000105377 aimef:C000021943Member 2015-11-01 2025-10-31 0000105377 aimef:C000021945Member 2015-11-01 2025-10-31 0000105377 aimef:C000029594Member 2015-11-01 2025-10-31 0000105377 aimef:C000029595Member 2015-11-01 2025-10-31 0000105377 aimef:C000063683Member 2015-11-01 2025-10-31 0000105377 aimef:C000063683Member oef:WithoutSalesLoadMember 2015-11-01 2025-10-31 0000105377 aimef:C000063685Member 2015-11-01 2025-10-31 0000105377 aimef:C000063685Member oef:WithoutSalesLoadMember 2015-11-01 2025-10-31 0000105377 aimef:C000063686Member 2015-11-01 2025-10-31 0000105377 aimef:C000069441Member 2015-11-01 2025-10-31 0000105377 aimef:C000069443Member 2015-11-01 2025-10-31 0000105377 aimef:C000069444Member 2015-11-01 2025-10-31 0000105377 aimef:C000069445Member 2015-11-01 2025-10-31 0000105377 aimef:C000081511Member 2015-11-01 2025-10-31 0000105377 aimef:C000081512Member 2015-11-01 2025-10-31 0000105377 aimef:C000120713Member 2015-11-01 2025-10-31 0000105377 aimef:C000120714Member 2015-11-01 2025-10-31 0000105377 aimef:C000188847Member 2015-11-01 2025-10-31 0000105377 aimef:C000209243Member 2015-11-01 2025-10-31 0000105377 aimef:C000209244Member 2015-11-01 2025-10-31 0000105377 aimef:C000209245Member 2015-11-01 2025-10-31 0000105377 aimef:C000209246Member 2015-11-01 2025-10-31 0000105377 aimef:C000209247Member 2015-11-01 2025-10-31 0000105377 aimef:C000209247Member oef:WithoutSalesLoadMember 2015-11-01 2025-10-31 0000105377 aimef:C000209248Member 2015-11-01 2025-10-31 0000105377 aimef:C000209248Member oef:WithoutSalesLoadMember 2015-11-01 2025-10-31 0000105377 aimef:C000209253Member 2015-11-01 2025-10-31 0000105377 aimef:C000209253Member oef:WithoutSalesLoadMember 2015-11-01 2025-10-31 0000105377 aimef:C000209256Member 2015-11-01 2025-10-31 0000105377 aimef:C000209258Member 2015-11-01 2025-10-31 0000105377 aimef:C000209260Member 2015-11-01 2025-10-31 0000105377 aimef:C000209264Member 2015-11-01 2025-10-31 0000105377 aimef:C000209266Member 2015-11-01 2025-10-31 0000105377 aimef:C000209266Member oef:WithoutSalesLoadMember 2015-11-01 2025-10-31 0000105377 aimef:C000209268Member 2015-11-01 2025-10-31 0000105377 aimef:C000209268Member oef:WithoutSalesLoadMember 2015-11-01 2025-10-31 0000105377 aimef:C000209270Member 2015-11-01 2025-10-31 0000105377 aimef:C000209271Member 2015-11-01 2025-10-31 0000105377 aimef:C000209272Member 2015-11-01 2025-10-31 0000105377 aimef:C000209273Member 2015-11-01 2025-10-31 0000105377 aimef:C000209276Member 2015-11-01 2025-10-31 0000105377 aimef:C000209276Member oef:WithoutSalesLoadMember 2015-11-01 2025-10-31 0000105377 aimef:C000265798Member 2015-11-01 2025-10-31 0000105377 aimef:Russell1000GrowthIndexMember 2015-11-01 2025-10-31 0000105377 aimef:Russell1000IndexMember 2015-11-01 2025-10-31 0000105377 aimef:Russell1000ValueIndexMember 2015-11-01 2025-10-31 0000105377 aimef:Russell3000IndexMember 2015-11-01 2025-10-31 0000105377 us-gaap:StandardPoors500IndexMember 2015-11-01 2025-10-31 0000105377 aimef:C000000677Member 2025-10-31 0000105377 aimef:C000000677Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000000677Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000000677Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000000677Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000000677Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000000677Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000000677Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000000677Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000000677Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000000677Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000000677Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000000677Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000000677Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000000677Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000000677Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000000677Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000000677Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000000677Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000000677Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000000677Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000000677Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000000677Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000000679Member 2025-10-31 0000105377 aimef:C000000679Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000000679Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000000679Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000000679Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000000679Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000000679Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000000679Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000000679Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000000679Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000000679Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000000679Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000000679Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000000679Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000000679Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000000679Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000000679Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000000679Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000000679Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000000679Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000000679Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000000679Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000000679Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000000680Member 2025-10-31 0000105377 aimef:C000000680Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000000680Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000000680Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000000680Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000000680Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000000680Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000000680Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000000680Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000000680Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000000680Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000000680Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000000680Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000000680Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000000680Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000000680Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000000680Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000000680Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000000680Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000000680Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000000680Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000000680Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000000680Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000000691Member 2025-10-31 0000105377 aimef:C000000691Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000000691Member aimef:BankOfAmericaCorpMember 2025-10-31 0000105377 aimef:C000000691Member aimef:ChevronCorpMember 2025-10-31 0000105377 aimef:C000000691Member aimef:CiscoSystemsIncMember 2025-10-31 0000105377 aimef:C000000691Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000000691Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000000691Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000000691Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000000691Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000000691Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000000691Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000000691Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000000691Member aimef:JohnsonAndJohnsonMember 2025-10-31 0000105377 aimef:C000000691Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000000691Member aimef:LoweSCosIncMember 2025-10-31 0000105377 aimef:C000000691Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000000691Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000000691Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000000691Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000000691Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000000691Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000000691Member aimef:WellsFargoAndCoMember 2025-10-31 0000105377 aimef:C000000693Member 2025-10-31 0000105377 aimef:C000000693Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000000693Member aimef:BankOfAmericaCorpMember 2025-10-31 0000105377 aimef:C000000693Member aimef:ChevronCorpMember 2025-10-31 0000105377 aimef:C000000693Member aimef:CiscoSystemsIncMember 2025-10-31 0000105377 aimef:C000000693Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000000693Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000000693Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000000693Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000000693Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000000693Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000000693Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000000693Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000000693Member aimef:JohnsonAndJohnsonMember 2025-10-31 0000105377 aimef:C000000693Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000000693Member aimef:LoweSCosIncMember 2025-10-31 0000105377 aimef:C000000693Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000000693Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000000693Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000000693Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000000693Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000000693Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000000693Member aimef:WellsFargoAndCoMember 2025-10-31 0000105377 aimef:C000021943Member 2025-10-31 0000105377 aimef:C000021943Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000021943Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000021943Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000021943Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000021943Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000021943Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000021943Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000021943Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000021943Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000021943Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000021943Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000021943Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000021943Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000021943Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000021943Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000021943Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000021943Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000021943Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000021943Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000021943Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000021943Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000021943Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000021945Member 2025-10-31 0000105377 aimef:C000021945Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000021945Member aimef:BankOfAmericaCorpMember 2025-10-31 0000105377 aimef:C000021945Member aimef:ChevronCorpMember 2025-10-31 0000105377 aimef:C000021945Member aimef:CiscoSystemsIncMember 2025-10-31 0000105377 aimef:C000021945Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000021945Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000021945Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000021945Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000021945Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000021945Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000021945Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000021945Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000021945Member aimef:JohnsonAndJohnsonMember 2025-10-31 0000105377 aimef:C000021945Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000021945Member aimef:LoweSCosIncMember 2025-10-31 0000105377 aimef:C000021945Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000021945Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000021945Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000021945Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000021945Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000021945Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000021945Member aimef:WellsFargoAndCoMember 2025-10-31 0000105377 aimef:C000029594Member 2025-10-31 0000105377 aimef:C000029594Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000029594Member aimef:BankOfAmericaCorpMember 2025-10-31 0000105377 aimef:C000029594Member aimef:ChevronCorpMember 2025-10-31 0000105377 aimef:C000029594Member aimef:CiscoSystemsIncMember 2025-10-31 0000105377 aimef:C000029594Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000029594Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000029594Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000029594Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000029594Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000029594Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000029594Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000029594Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000029594Member aimef:JohnsonAndJohnsonMember 2025-10-31 0000105377 aimef:C000029594Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000029594Member aimef:LoweSCosIncMember 2025-10-31 0000105377 aimef:C000029594Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000029594Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000029594Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000029594Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000029594Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000029594Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000029594Member aimef:WellsFargoAndCoMember 2025-10-31 0000105377 aimef:C000029595Member 2025-10-31 0000105377 aimef:C000029595Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000029595Member aimef:BankOfAmericaCorpMember 2025-10-31 0000105377 aimef:C000029595Member aimef:ChevronCorpMember 2025-10-31 0000105377 aimef:C000029595Member aimef:CiscoSystemsIncMember 2025-10-31 0000105377 aimef:C000029595Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000029595Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000029595Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000029595Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000029595Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000029595Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000029595Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000029595Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000029595Member aimef:JohnsonAndJohnsonMember 2025-10-31 0000105377 aimef:C000029595Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000029595Member aimef:LoweSCosIncMember 2025-10-31 0000105377 aimef:C000029595Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000029595Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000029595Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000029595Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000029595Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000029595Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000029595Member aimef:WellsFargoAndCoMember 2025-10-31 0000105377 aimef:C000063683Member 2025-10-31 0000105377 aimef:C000063683Member aimef:AlphabetIncClassCMember 2025-10-31 0000105377 aimef:C000063683Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000063683Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000063683Member aimef:AppLovinCorpClassAMember 2025-10-31 0000105377 aimef:C000063683Member aimef:AristaNetworksIncMember 2025-10-31 0000105377 aimef:C000063683Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000063683Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000063683Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000063683Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000063683Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000063683Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000063683Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000063683Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000063683Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000063683Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000063683Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000063683Member aimef:OtherSectorsEachLessThan2OfNetAssetsMember 2025-10-31 0000105377 aimef:C000063683Member aimef:TeslaIncMember 2025-10-31 0000105377 aimef:C000063685Member 2025-10-31 0000105377 aimef:C000063685Member aimef:AlphabetIncClassCMember 2025-10-31 0000105377 aimef:C000063685Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000063685Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000063685Member aimef:AppLovinCorpClassAMember 2025-10-31 0000105377 aimef:C000063685Member aimef:AristaNetworksIncMember 2025-10-31 0000105377 aimef:C000063685Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000063685Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000063685Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000063685Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000063685Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000063685Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000063685Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000063685Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000063685Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000063685Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000063685Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000063685Member aimef:OtherSectorsEachLessThan2OfNetAssetsMember 2025-10-31 0000105377 aimef:C000063685Member aimef:TeslaIncMember 2025-10-31 0000105377 aimef:C000063686Member 2025-10-31 0000105377 aimef:C000063686Member aimef:AlphabetIncClassCMember 2025-10-31 0000105377 aimef:C000063686Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000063686Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000063686Member aimef:AppLovinCorpClassAMember 2025-10-31 0000105377 aimef:C000063686Member aimef:AristaNetworksIncMember 2025-10-31 0000105377 aimef:C000063686Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000063686Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000063686Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000063686Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000063686Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000063686Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000063686Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000063686Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000063686Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000063686Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000063686Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000063686Member aimef:OtherSectorsEachLessThan2OfNetAssetsMember 2025-10-31 0000105377 aimef:C000063686Member aimef:TeslaIncMember 2025-10-31 0000105377 aimef:C000069441Member 2025-10-31 0000105377 aimef:C000069441Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000069441Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000069441Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000069441Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000069441Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000069441Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000069441Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000069441Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000069441Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000069441Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000069441Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000069441Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000069441Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000069441Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000069441Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000069441Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000069441Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000069441Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000069441Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000069441Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000069441Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000069441Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000069443Member 2025-10-31 0000105377 aimef:C000069443Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000069443Member aimef:BankOfAmericaCorpMember 2025-10-31 0000105377 aimef:C000069443Member aimef:ChevronCorpMember 2025-10-31 0000105377 aimef:C000069443Member aimef:CiscoSystemsIncMember 2025-10-31 0000105377 aimef:C000069443Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000069443Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000069443Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000069443Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000069443Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000069443Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000069443Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000069443Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000069443Member aimef:JohnsonAndJohnsonMember 2025-10-31 0000105377 aimef:C000069443Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000069443Member aimef:LoweSCosIncMember 2025-10-31 0000105377 aimef:C000069443Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000069443Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000069443Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000069443Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000069443Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000069443Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000069443Member aimef:WellsFargoAndCoMember 2025-10-31 0000105377 aimef:C000069444Member 2025-10-31 0000105377 aimef:C000069444Member aimef:AlphabetIncClassCMember 2025-10-31 0000105377 aimef:C000069444Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000069444Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000069444Member aimef:AppLovinCorpClassAMember 2025-10-31 0000105377 aimef:C000069444Member aimef:AristaNetworksIncMember 2025-10-31 0000105377 aimef:C000069444Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000069444Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000069444Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000069444Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000069444Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000069444Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000069444Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000069444Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000069444Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000069444Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000069444Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000069444Member aimef:OtherSectorsEachLessThan2OfNetAssetsMember 2025-10-31 0000105377 aimef:C000069444Member aimef:TeslaIncMember 2025-10-31 0000105377 aimef:C000069445Member 2025-10-31 0000105377 aimef:C000069445Member aimef:AlphabetIncClassCMember 2025-10-31 0000105377 aimef:C000069445Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000069445Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000069445Member aimef:AppLovinCorpClassAMember 2025-10-31 0000105377 aimef:C000069445Member aimef:AristaNetworksIncMember 2025-10-31 0000105377 aimef:C000069445Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000069445Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000069445Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000069445Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000069445Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000069445Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000069445Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000069445Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000069445Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000069445Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000069445Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000069445Member aimef:OtherSectorsEachLessThan2OfNetAssetsMember 2025-10-31 0000105377 aimef:C000069445Member aimef:TeslaIncMember 2025-10-31 0000105377 aimef:C000081511Member 2025-10-31 0000105377 aimef:C000081511Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000081511Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000081511Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000081511Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000081511Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000081511Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000081511Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000081511Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000081511Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000081511Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000081511Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000081511Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000081511Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000081511Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000081511Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000081511Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000081511Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000081511Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000081511Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000081511Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000081511Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000081511Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000081512Member 2025-10-31 0000105377 aimef:C000081512Member aimef:AlphabetIncClassCMember 2025-10-31 0000105377 aimef:C000081512Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000081512Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000081512Member aimef:AppLovinCorpClassAMember 2025-10-31 0000105377 aimef:C000081512Member aimef:AristaNetworksIncMember 2025-10-31 0000105377 aimef:C000081512Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000081512Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000081512Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000081512Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000081512Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000081512Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000081512Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000081512Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000081512Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000081512Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000081512Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000081512Member aimef:OtherSectorsEachLessThan2OfNetAssetsMember 2025-10-31 0000105377 aimef:C000081512Member aimef:TeslaIncMember 2025-10-31 0000105377 aimef:C000120713Member 2025-10-31 0000105377 aimef:C000120713Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000120713Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000120713Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000120713Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000120713Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000120713Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000120713Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000120713Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000120713Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000120713Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000120713Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000120713Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000120713Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000120713Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000120713Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000120713Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000120713Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000120713Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000120713Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000120713Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000120713Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000120713Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000120714Member 2025-10-31 0000105377 aimef:C000120714Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000120714Member aimef:BankOfAmericaCorpMember 2025-10-31 0000105377 aimef:C000120714Member aimef:ChevronCorpMember 2025-10-31 0000105377 aimef:C000120714Member aimef:CiscoSystemsIncMember 2025-10-31 0000105377 aimef:C000120714Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000120714Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000120714Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000120714Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000120714Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000120714Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000120714Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000120714Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000120714Member aimef:JohnsonAndJohnsonMember 2025-10-31 0000105377 aimef:C000120714Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000120714Member aimef:LoweSCosIncMember 2025-10-31 0000105377 aimef:C000120714Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000120714Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000120714Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000120714Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000120714Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000120714Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000120714Member aimef:WellsFargoAndCoMember 2025-10-31 0000105377 aimef:C000188847Member 2025-10-31 0000105377 aimef:C000188847Member aimef:AlphabetIncClassCMember 2025-10-31 0000105377 aimef:C000188847Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000188847Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000188847Member aimef:AppLovinCorpClassAMember 2025-10-31 0000105377 aimef:C000188847Member aimef:AristaNetworksIncMember 2025-10-31 0000105377 aimef:C000188847Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000188847Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000188847Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000188847Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000188847Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000188847Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000188847Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000188847Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000188847Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000188847Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000188847Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000188847Member aimef:OtherSectorsEachLessThan2OfNetAssetsMember 2025-10-31 0000105377 aimef:C000188847Member aimef:TeslaIncMember 2025-10-31 0000105377 aimef:C000209243Member 2025-10-31 0000105377 aimef:C000209243Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209243Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000209243Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209243Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209243Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209243Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209243Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209243Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209243Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209243Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209243Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209243Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209243Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209243Member aimef:MastercardIncClassAMember 2025-10-31 0000105377 aimef:C000209243Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209243Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209243Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209243Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209243Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209243Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209243Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209243Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000209244Member 2025-10-31 0000105377 aimef:C000209244Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209244Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000209244Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209244Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209244Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209244Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209244Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209244Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209244Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209244Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209244Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209244Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209244Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209244Member aimef:MastercardIncClassAMember 2025-10-31 0000105377 aimef:C000209244Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209244Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209244Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209244Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209244Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209244Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209244Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209244Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000209245Member 2025-10-31 0000105377 aimef:C000209245Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209245Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000209245Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209245Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209245Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209245Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209245Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209245Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209245Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209245Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209245Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209245Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209245Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209245Member aimef:MastercardIncClassAMember 2025-10-31 0000105377 aimef:C000209245Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209245Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209245Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209245Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209245Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209245Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209245Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209245Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000209246Member 2025-10-31 0000105377 aimef:C000209246Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209246Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000209246Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209246Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209246Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209246Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209246Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209246Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209246Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209246Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209246Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209246Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209246Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209246Member aimef:MastercardIncClassAMember 2025-10-31 0000105377 aimef:C000209246Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209246Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209246Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209246Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209246Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209246Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209246Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209246Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000209247Member 2025-10-31 0000105377 aimef:C000209247Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209247Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000209247Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209247Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209247Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209247Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209247Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209247Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209247Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209247Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209247Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209247Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209247Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209247Member aimef:MastercardIncClassAMember 2025-10-31 0000105377 aimef:C000209247Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209247Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209247Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209247Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209247Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209247Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209247Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209247Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000209248Member 2025-10-31 0000105377 aimef:C000209248Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209248Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000209248Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209248Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209248Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209248Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209248Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209248Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209248Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209248Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209248Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209248Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209248Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209248Member aimef:MastercardIncClassAMember 2025-10-31 0000105377 aimef:C000209248Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209248Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209248Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209248Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209248Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209248Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209248Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209248Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000209253Member 2025-10-31 0000105377 aimef:C000209253Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209253Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000209253Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209253Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209253Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209253Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209253Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209253Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000209253Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209253Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209253Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209253Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209253Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209253Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209253Member aimef:MastercardIncClassAMember 2025-10-31 0000105377 aimef:C000209253Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209253Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209253Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209253Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209253Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209253Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209253Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209256Member 2025-10-31 0000105377 aimef:C000209256Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209256Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000209256Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209256Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209256Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209256Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209256Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209256Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000209256Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209256Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209256Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209256Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209256Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209256Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209256Member aimef:MastercardIncClassAMember 2025-10-31 0000105377 aimef:C000209256Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209256Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209256Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209256Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209256Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209256Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209256Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209258Member 2025-10-31 0000105377 aimef:C000209258Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209258Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000209258Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209258Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209258Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209258Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209258Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209258Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000209258Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209258Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209258Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209258Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209258Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209258Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209258Member aimef:MastercardIncClassAMember 2025-10-31 0000105377 aimef:C000209258Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209258Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209258Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209258Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209258Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209258Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209258Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209260Member 2025-10-31 0000105377 aimef:C000209260Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209260Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000209260Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209260Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209260Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209260Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209260Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209260Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000209260Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209260Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209260Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209260Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209260Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209260Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209260Member aimef:MastercardIncClassAMember 2025-10-31 0000105377 aimef:C000209260Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209260Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209260Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209260Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209260Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209260Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209260Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209264Member 2025-10-31 0000105377 aimef:C000209264Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209264Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000209264Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209264Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209264Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209264Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209264Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209264Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000209264Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209264Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209264Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209264Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209264Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209264Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209264Member aimef:MastercardIncClassAMember 2025-10-31 0000105377 aimef:C000209264Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209264Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209264Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209264Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209264Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209264Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209264Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209266Member 2025-10-31 0000105377 aimef:C000209266Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209266Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000209266Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209266Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209266Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209266Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209266Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209266Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000209266Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209266Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209266Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209266Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209266Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209266Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209266Member aimef:MastercardIncClassAMember 2025-10-31 0000105377 aimef:C000209266Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209266Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209266Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209266Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209266Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209266Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209266Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209268Member 2025-10-31 0000105377 aimef:C000209268Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209268Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209268Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209268Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209268Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209268Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209268Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000209268Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209268Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209268Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209268Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209268Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209268Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209268Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209268Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209268Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209268Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209268Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209268Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209268Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209268Member aimef:VisaIncClassAMember 2025-10-31 0000105377 aimef:C000209268Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000209270Member 2025-10-31 0000105377 aimef:C000209270Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209270Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209270Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209270Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209270Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209270Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209270Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000209270Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209270Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209270Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209270Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209270Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209270Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209270Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209270Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209270Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209270Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209270Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209270Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209270Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209270Member aimef:VisaIncClassAMember 2025-10-31 0000105377 aimef:C000209270Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000209271Member 2025-10-31 0000105377 aimef:C000209271Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209271Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209271Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209271Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209271Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209271Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209271Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000209271Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209271Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209271Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209271Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209271Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209271Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209271Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209271Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209271Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209271Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209271Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209271Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209271Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209271Member aimef:VisaIncClassAMember 2025-10-31 0000105377 aimef:C000209271Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000209272Member 2025-10-31 0000105377 aimef:C000209272Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209272Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209272Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209272Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209272Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209272Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209272Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000209272Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209272Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209272Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209272Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209272Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209272Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209272Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209272Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209272Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209272Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209272Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209272Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209272Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209272Member aimef:VisaIncClassAMember 2025-10-31 0000105377 aimef:C000209272Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000209273Member 2025-10-31 0000105377 aimef:C000209273Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209273Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209273Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209273Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209273Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209273Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209273Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000209273Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209273Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209273Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209273Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209273Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209273Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209273Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209273Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209273Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209273Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209273Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209273Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209273Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209273Member aimef:VisaIncClassAMember 2025-10-31 0000105377 aimef:C000209273Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000209276Member 2025-10-31 0000105377 aimef:C000209276Member aimef:AlphabetIncClassAMember 2025-10-31 0000105377 aimef:C000209276Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000209276Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000209276Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000209276Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000209276Member oef:ConsumerStaplesSectorMember 2025-10-31 0000105377 aimef:C000209276Member aimef:EliLillyAndCoMember 2025-10-31 0000105377 aimef:C000209276Member us-gaap:EnergySectorMember 2025-10-31 0000105377 aimef:C000209276Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000209276Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000209276Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000209276Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000209276Member aimef:JPMorganChaseAndCoMember 2025-10-31 0000105377 aimef:C000209276Member oef:MaterialsSectorMember 2025-10-31 0000105377 aimef:C000209276Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000209276Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000209276Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000209276Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000209276Member us-gaap:RealEstateSectorMember 2025-10-31 0000105377 aimef:C000209276Member oef:UtilitiesSectorMember 2025-10-31 0000105377 aimef:C000209276Member aimef:VisaIncClassAMember 2025-10-31 0000105377 aimef:C000209276Member aimef:WalmartIncMember 2025-10-31 0000105377 aimef:C000265798Member 2025-10-31 0000105377 aimef:C000265798Member aimef:AlphabetIncClassCMember 2025-10-31 0000105377 aimef:C000265798Member aimef:AmazonComIncMember 2025-10-31 0000105377 aimef:C000265798Member aimef:AppleIncMember 2025-10-31 0000105377 aimef:C000265798Member aimef:AppLovinCorpClassAMember 2025-10-31 0000105377 aimef:C000265798Member aimef:AristaNetworksIncMember 2025-10-31 0000105377 aimef:C000265798Member aimef:BroadcomIncMember 2025-10-31 0000105377 aimef:C000265798Member oef:CommunicationsSectorMember 2025-10-31 0000105377 aimef:C000265798Member oef:ConsumerDiscretionarySectorMember 2025-10-31 0000105377 aimef:C000265798Member us-gaap:FinancialServicesSectorMember 2025-10-31 0000105377 aimef:C000265798Member us-gaap:HealthcareSectorMember 2025-10-31 0000105377 aimef:C000265798Member oef:IndustrialSectorMember 2025-10-31 0000105377 aimef:C000265798Member oef:InformationTechnologySectorMember 2025-10-31 0000105377 aimef:C000265798Member aimef:MetaPlatformsIncClassAMember 2025-10-31 0000105377 aimef:C000265798Member aimef:MicrosoftCorpMember 2025-10-31 0000105377 aimef:C000265798Member aimef:MoneyMarketFundsPlusOtherAssetsLessLiabilitiesMember 2025-10-31 0000105377 aimef:C000265798Member aimef:NVIDIACorpMember 2025-10-31 0000105377 aimef:C000265798Member aimef:OtherSectorsEachLessThan2OfNetAssetsMember 2025-10-31 0000105377 aimef:C000265798Member aimef:TeslaIncMember 2025-10-31 iso4217:USDiso4217:USDxbrli:sharesxbrli:purexbrli:sharesutr:Daimef:Holding

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

------

#### FORM N-CSR

------

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number

#### 811-01424

#### AIM Equity Funds (Invesco Equity Funds)
(Exact name of registrant as specified in charter)

------

11 Greenway Plaza, Suite 1000 Houston, Texas 77046

(Address of principal executive offices) (Zip code)

Glenn Brightman, Principal Executive Officer

11 Greenway Plaza, Suite 1000

Houston, Texas 77046

(Name and address of agent for service)

#### Registrant's telephone number, including area code:
&nbsp;&nbsp;&nbsp;&nbsp;(713) 626-1919

#### Date of fiscal year end:

#### October 31

#### Date of reporting period:

#### October 31, 2025
Item 1. Reports to Stockholders.

(a) The Registrant's annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended (the "Act") is as follows:

![TSR_logo](images_2625.jpg)

### Invesco Charter Fund

### Class A: CHTRX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Charter Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Charter Fund<br> (Class A) | $111 | 1.01% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

 **•** For the fiscal year ended October 31, 2025, Class A shares of the Fund, excluding sales charge, returned 19.53%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 21.14%. The Fund underperformed the Benchmark mainly as a result of stock selection in the information technology, health care and consumer staples sectors. Stronger stock selection in the industrials, materials and communication services sectors partially offset these results.

#### What contributed to performance?
 **Oracle Corp. \|** Oracle delivered results that reflected surging demand for its cloud infrastructure and strong traction among large enterprise and sovereign clients, reinforcing its position as a heavyweight in the growing, AI-driven computing infrastructure market.

 **Howmet Aerospace, Inc. \|** Howmet Aerospace manufactures advanced metal products for the aerospace and defense industries. The company reported earnings that beat expectations, driven by strength in its commercial aerospace segment.

#### What detracted from performance?
 **BellRing Brands, Inc. \|** BellRing Brands is a consumer products company whose offerings include high protein beverages and supplements. Sales decelerated in the first half of 2025, while competitive pressures in the protein shake category increased.

 **UnitedHealth Group, Inc. \|** UnitedHealth Group declined as it faced various internal and external challenges that weighed on its stock price during the fiscal year.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711071.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Charter Fund (Class A) —including sales charge** | 12.98% | 14.08% | 10.62% |
| **Invesco Charter Fund (Class A) —excluding sales charge** | 19.53% | 15.38% | 11.25% |
| **Russell 1000<sup>®</sup> Index** | 21.14% | 17.05% | 14.39% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3768237540 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;72 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$21773165 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;36% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;8.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.64% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711065.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CHT-AR-A **Invesco Charter Fund**

![TSR_logo](images_2625.jpg)

### Invesco Charter Fund

### Class C: CHTCX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Charter Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Charter Fund<br> (Class C) | $192 | 1.76% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

 **•** For the fiscal year ended October 31, 2025, Class C shares of the Fund, excluding sales charge, returned 18.64%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 21.14%. The Fund underperformed the Benchmark mainly as a result of stock selection in the information technology, health care and consumer staples sectors. Stronger stock selection in the industrials, materials and communication services sectors partially offset these results.

#### What contributed to performance?
 **Oracle Corp. \|** Oracle delivered results that reflected surging demand for its cloud infrastructure and strong traction among large enterprise and sovereign clients, reinforcing its position as a heavyweight in the growing, AI-driven computing infrastructure market.

 **Howmet Aerospace, Inc. \|** Howmet Aerospace manufactures advanced metal products for the aerospace and defense industries. The company reported earnings that beat expectations, driven by strength in its commercial aerospace segment.

#### What detracted from performance?
 **BellRing Brands, Inc. \|** BellRing Brands is a consumer products company whose offerings include high protein beverages and supplements. Sales decelerated in the first half of 2025, while competitive pressures in the protein shake category increased.

 **UnitedHealth Group, Inc. \|** UnitedHealth Group declined as it faced various internal and external challenges that weighed on its stock price during the fiscal year.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711088.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Charter Fund (Class C) —including sales charge** | 17.64% | 14.51% | 10.58% |
| **Invesco Charter Fund (Class C) —excluding sales charge** | 18.64% | 14.51% | 10.58% |
| **Russell 1000<sup>®</sup> Index** | 21.14% | 17.05% | 14.39% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3768237540 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;72 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$21773165 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;36% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;8.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.64% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711094.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CHT-AR-C **Invesco Charter Fund**

![TSR_logo](images_2625.jpg)

### Invesco Charter Fund

### Class R: CHRRX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Charter Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Charter Fund<br> (Class R) | $138 | 1.26% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

 **•** For the fiscal year ended October 31, 2025, Class R shares of the Fund returned 19.22%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 21.14%. The Fund underperformed the Benchmark mainly as a result of stock selection in the information technology, health care and consumer staples sectors. Stronger stock selection in the industrials, materials and communication services sectors partially offset these results.

#### What contributed to performance?
 **Oracle Corp. \|** Oracle delivered results that reflected surging demand for its cloud infrastructure and strong traction among large enterprise and sovereign clients, reinforcing its position as a heavyweight in the growing, AI-driven computing infrastructure market.

 **Howmet Aerospace, Inc. \|** Howmet Aerospace manufactures advanced metal products for the aerospace and defense industries. The company reported earnings that beat expectations, driven by strength in its commercial aerospace segment.

#### What detracted from performance?
 **BellRing Brands, Inc. \|** BellRing Brands is a consumer products company whose offerings include high protein beverages and supplements. Sales decelerated in the first half of 2025, while competitive pressures in the protein shake category increased.

 **UnitedHealth Group, Inc. \|** UnitedHealth Group declined as it faced various internal and external challenges that weighed on its stock price during the fiscal year.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711143.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Charter Fund (Class R)** | 19.22% | 15.09% | 10.97% |
| **Russell 1000<sup>®</sup> Index** | 21.14% | 17.05% | 14.39% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3768237540 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;72 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$21773165 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;36% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;8.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.64% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711137.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CHT-AR-R **Invesco Charter Fund**

![TSR_logo](images_2625.jpg)

### Invesco Charter Fund

### Class S: CHRSX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Charter Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Charter Fund<br> (Class S) | $100 | 0.91% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

 **•** For the fiscal year ended October 31, 2025, Class S shares of the Fund returned 19.69%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 21.14%. The Fund underperformed the Benchmark mainly as a result of stock selection in the information technology, health care and consumer staples sectors. Stronger stock selection in the industrials, materials and communication services sectors partially offset these results.

#### What contributed to performance?
 **Oracle Corp. \|** Oracle delivered results that reflected surging demand for its cloud infrastructure and strong traction among large enterprise and sovereign clients, reinforcing its position as a heavyweight in the growing, AI-driven computing infrastructure market.

 **Howmet Aerospace, Inc. \|** Howmet Aerospace manufactures advanced metal products for the aerospace and defense industries. The company reported earnings that beat expectations, driven by strength in its commercial aerospace segment.

#### What detracted from performance?
 **BellRing Brands, Inc. \|** BellRing Brands is a consumer products company whose offerings include high protein beverages and supplements. Sales decelerated in the first half of 2025, while competitive pressures in the protein shake category increased.

 **UnitedHealth Group, Inc. \|** UnitedHealth Group declined as it faced various internal and external challenges that weighed on its stock price during the fiscal year.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711287.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Charter Fund (Class S)** | 19.69% | 15.50% | 11.36% |
| **Russell 1000<sup>®</sup> Index** | 21.14% | 17.05% | 14.39% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3768237540 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;72 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$21773165 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;36% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;8.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.64% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711281.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CHT-AR-S **Invesco Charter Fund**

![TSR_logo](images_2625.jpg)

### Invesco Charter Fund

### Class Y: CHTYX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Charter Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Charter Fund<br> (Class Y) | $84 | 0.76% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

 **•** For the fiscal year ended October 31, 2025, Class Y shares of the Fund returned 19.82%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 21.14%. The Fund underperformed the Benchmark mainly as a result of stock selection in the information technology, health care and consumer staples sectors. Stronger stock selection in the industrials, materials and communication services sectors partially offset these results.

#### What contributed to performance?
 **Oracle Corp. \|** Oracle delivered results that reflected surging demand for its cloud infrastructure and strong traction among large enterprise and sovereign clients, reinforcing its position as a heavyweight in the growing, AI-driven computing infrastructure market.

 **Howmet Aerospace, Inc. \|** Howmet Aerospace manufactures advanced metal products for the aerospace and defense industries. The company reported earnings that beat expectations, driven by strength in its commercial aerospace segment.

#### What detracted from performance?
 **BellRing Brands, Inc. \|** BellRing Brands is a consumer products company whose offerings include high protein beverages and supplements. Sales decelerated in the first half of 2025, while competitive pressures in the protein shake category increased.

 **UnitedHealth Group, Inc. \|** UnitedHealth Group declined as it faced various internal and external challenges that weighed on its stock price during the fiscal year.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711160.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Charter Fund (Class Y)** | 19.82% | 15.66% | 11.53% |
| **Russell 1000<sup>®</sup> Index** | 21.14% | 17.05% | 14.39% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3768237540 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;72 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$21773165 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;36% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;8.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.64% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711166.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CHT-AR-Y **Invesco Charter Fund**

![TSR_logo](images_2625.jpg)

### Invesco Charter Fund

### Class R5: CHTVX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Charter Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Charter Fund<br> (Class R5) | $82 | 0.75% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

 **•** For the fiscal year ended October 31, 2025, Class R5 shares of the Fund returned 19.82%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 21.14%. The Fund underperformed the Benchmark mainly as a result of stock selection in the information technology, health care and consumer staples sectors. Stronger stock selection in the industrials, materials and communication services sectors partially offset these results.

#### What contributed to performance?
 **Oracle Corp. \|** Oracle delivered results that reflected surging demand for its cloud infrastructure and strong traction among large enterprise and sovereign clients, reinforcing its position as a heavyweight in the growing, AI-driven computing infrastructure market.

 **Howmet Aerospace, Inc. \|** Howmet Aerospace manufactures advanced metal products for the aerospace and defense industries. The company reported earnings that beat expectations, driven by strength in its commercial aerospace segment.

#### What detracted from performance?
 **BellRing Brands, Inc. \|** BellRing Brands is a consumer products company whose offerings include high protein beverages and supplements. Sales decelerated in the first half of 2025, while competitive pressures in the protein shake category increased.

 **UnitedHealth Group, Inc. \|** UnitedHealth Group declined as it faced various internal and external challenges that weighed on its stock price during the fiscal year.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711215.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Charter Fund (Class R5)** | 19.82% | 15.68% | 11.58% |
| **Russell 1000<sup>®</sup> Index** | 21.14% | 17.05% | 14.39% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3768237540 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;72 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$21773165 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;36% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;8.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.64% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711209.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CHT-AR-R5 **Invesco Charter Fund**

![TSR_logo](images_2625.jpg)

### Invesco Charter Fund

### Class R6: CHFTX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Charter Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Charter Fund<br> (Class R6) | $75 | 0.68% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

 **•** For the fiscal year ended October 31, 2025, Class R6 shares of the Fund returned 19.96%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 21.14%. The Fund underperformed the Benchmark mainly as a result of stock selection in the information technology, health care and consumer staples sectors. Stronger stock selection in the industrials, materials and communication services sectors partially offset these results.

#### What contributed to performance?
 **Oracle Corp. \|** Oracle delivered results that reflected surging demand for its cloud infrastructure and strong traction among large enterprise and sovereign clients, reinforcing its position as a heavyweight in the growing, AI-driven computing infrastructure market.

 **Howmet Aerospace, Inc. \|** Howmet Aerospace manufactures advanced metal products for the aerospace and defense industries. The company reported earnings that beat expectations, driven by strength in its commercial aerospace segment.

#### What detracted from performance?
 **BellRing Brands, Inc. \|** BellRing Brands is a consumer products company whose offerings include high protein beverages and supplements. Sales decelerated in the first half of 2025, while competitive pressures in the protein shake category increased.

 **UnitedHealth Group, Inc. \|** UnitedHealth Group declined as it faced various internal and external challenges that weighed on its stock price during the fiscal year.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711232.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Charter Fund (Class R6)** | 19.96% | 15.77% | 11.66% |
| **Russell 1000<sup>®</sup> Index** | 21.14% | 17.05% | 14.39% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3768237540 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;72 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$21773165 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;36% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;8.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.64% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711238.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

CHT-AR-R6 **Invesco Charter Fund**

![TSR_logo](images_2625.jpg)

### Invesco Diversified Dividend Fund

### Class A: LCEAX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Diversified Dividend Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

#### This report describes changes to the Fund that occurred during the reporting period.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Diversified Dividend Fund<br> (Class A) | $88 | 0.83% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US markets experienced significant volatility driven by political developments, tariff-related uncertainties and shifting Federal Reserve policies, with strong rallies fueled by optimism around artificial intelligence (AI) and resilient economic growth tempered by inflation and geopolitical risks. Despite intermittent corrections and economic slowdowns, equities ended the period near record highs, supported by robust corporate earnings and accommodative monetary policy.

 **•** For the fiscal year ended October 31, 2025, Class A shares of the Fund, excluding sales charge, returned 10.98%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 11.15%.

#### What contributed to performance?
 **JPMorgan Chase & Co. \|** JPMorgan's strong performance was fueled by record trading and investment banking revenue, resilient consumer banking, strategic rate management and shareholder-friendly actions. JPMorgan's diversified model and strong capital ratios positioned it as a standout in a volatile macro environment.

#### What detracted from performance?
 **UnitedHealth Group Inc. \|** UnitedHealth Group's decline during the fiscal year was driven by cost overruns, pricing missteps and regulatory uncertainty, compounded by leadership changes and strategic pullbacks. While revenue growth remained strong, profitability collapsed under elevated cost of care trends and compliance pressures, eroding investor confidence. We sold the holding during the fiscal year.

 **Comcast Corp. \|** Comcast's weak performance was driven by accelerating broadband and video subscriber losses, competitive pressure from fiber and 5G and pricing missteps, partially offset by wireless growth and narrowing streaming losses. Structural challenges in its core connectivity business overshadowed incremental gains in theme parks and content, raising investor's concerns. We sold the holding during the fiscal year.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9710799.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Diversified Dividend Fund (Class A) —including sales charge** | 4.89% | 11.61% | 7.82% |
| **Invesco Diversified Dividend Fund (Class A) —excluding sales charge** | 10.98% | 12.89% | 8.43% |
| **Russell 1000<sup>®</sup> Value Index** | 11.15% | 14.28% | 9.97% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$10518663310 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$43999769 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;56% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;3.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;2.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;2.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;2.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;2.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;2.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;2.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;2.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;2.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;2.32% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9710806.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since October 31, 2024. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

The Fund modified its principal investment strategies to reflect that the Fund adopted a policy to invest at least 80% of its net assets in common stocks of companies which pay dividends, and in other instruments that have economic characteristics similar to such securities.

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

DDI-AR-A **Invesco Diversified Dividend Fund**

![TSR_logo](images_2625.jpg)

### Invesco Diversified Dividend Fund

### Class C: LCEVX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Diversified Dividend Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

#### This report describes changes to the Fund that occurred during the reporting period.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Diversified Dividend Fund<br> (Class C) | $166 | 1.58% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US markets experienced significant volatility driven by political developments, tariff-related uncertainties and shifting Federal Reserve policies, with strong rallies fueled by optimism around artificial intelligence (AI) and resilient economic growth tempered by inflation and geopolitical risks. Despite intermittent corrections and economic slowdowns, equities ended the period near record highs, supported by robust corporate earnings and accommodative monetary policy.

 **•** For the fiscal year ended October 31, 2025, Class C shares of the Fund, excluding sales charge, returned 10.16%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 11.15%.

#### What contributed to performance?
 **JPMorgan Chase & Co. \|** JPMorgan's strong performance was fueled by record trading and investment banking revenue, resilient consumer banking, strategic rate management and shareholder-friendly actions. JPMorgan's diversified model and strong capital ratios positioned it as a standout in a volatile macro environment.

#### What detracted from performance?
 **UnitedHealth Group Inc. \|** UnitedHealth Group's decline during the fiscal year was driven by cost overruns, pricing missteps and regulatory uncertainty, compounded by leadership changes and strategic pullbacks. While revenue growth remained strong, profitability collapsed under elevated cost of care trends and compliance pressures, eroding investor confidence. We sold the holding during the fiscal year.

 **Comcast Corp. \|** Comcast's weak performance was driven by accelerating broadband and video subscriber losses, competitive pressure from fiber and 5G and pricing missteps, partially offset by wireless growth and narrowing streaming losses. Structural challenges in its core connectivity business overshadowed incremental gains in theme parks and content, raising investor's concerns. We sold the holding during the fiscal year.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9710856.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Diversified Dividend Fund (Class C) —including sales charge** | 9.17% | 12.05% | 7.78% |
| **Invesco Diversified Dividend Fund (Class C) —excluding sales charge** | 10.16% | 12.05% | 7.78% |
| **Russell 1000<sup>®</sup> Value Index** | 11.15% | 14.28% | 9.97% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$10518663310 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$43999769 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;56% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;3.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;2.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;2.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;2.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;2.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;2.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;2.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;2.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;2.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;2.32% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9710849.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since October 31, 2024. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

The Fund modified its principal investment strategies to reflect that the Fund adopted a policy to invest at least 80% of its net assets in common stocks of companies which pay dividends, and in other instruments that have economic characteristics similar to such securities.

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

DDI-AR-C **Invesco Diversified Dividend Fund**

![TSR_logo](images_2625.jpg)

### Invesco Diversified Dividend Fund

### Class R: DDFRX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Diversified Dividend Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

#### This report describes changes to the Fund that occurred during the reporting period.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Diversified Dividend Fund<br> (Class R) | $114 | 1.08% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US markets experienced significant volatility driven by political developments, tariff-related uncertainties and shifting Federal Reserve policies, with strong rallies fueled by optimism around artificial intelligence (AI) and resilient economic growth tempered by inflation and geopolitical risks. Despite intermittent corrections and economic slowdowns, equities ended the period near record highs, supported by robust corporate earnings and accommodative monetary policy.

 **•** For the fiscal year ended October 31, 2025, Class R shares of the Fund returned 10.65%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 11.15%.

#### What contributed to performance?
 **JPMorgan Chase & Co. \|** JPMorgan's strong performance was fueled by record trading and investment banking revenue, resilient consumer banking, strategic rate management and shareholder-friendly actions. JPMorgan's diversified model and strong capital ratios positioned it as a standout in a volatile macro environment.

#### What detracted from performance?
 **UnitedHealth Group Inc. \|** UnitedHealth Group's decline during the fiscal year was driven by cost overruns, pricing missteps and regulatory uncertainty, compounded by leadership changes and strategic pullbacks. While revenue growth remained strong, profitability collapsed under elevated cost of care trends and compliance pressures, eroding investor confidence. We sold the holding during the fiscal year.

 **Comcast Corp. \|** Comcast's weak performance was driven by accelerating broadband and video subscriber losses, competitive pressure from fiber and 5G and pricing missteps, partially offset by wireless growth and narrowing streaming losses. Structural challenges in its core connectivity business overshadowed incremental gains in theme parks and content, raising investor's concerns. We sold the holding during the fiscal year.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9710871.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Diversified Dividend Fund (Class R)** | 10.65% | 12.60% | 8.16% |
| **Russell 1000<sup>®</sup> Value Index** | 11.15% | 14.28% | 9.97% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$10518663310 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$43999769 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;56% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;3.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;2.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;2.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;2.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;2.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;2.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;2.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;2.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;2.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;2.32% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9710878.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since October 31, 2024. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

The Fund modified its principal investment strategies to reflect that the Fund adopted a policy to invest at least 80% of its net assets in common stocks of companies which pay dividends, and in other instruments that have economic characteristics similar to such securities.

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

DDI-AR-R **Invesco Diversified Dividend Fund**

![TSR_logo](images_2625.jpg)

### Invesco Diversified Dividend Fund

### Class Y: LCEYX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Diversified Dividend Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

#### This report describes changes to the Fund that occurred during the reporting period.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Diversified Dividend Fund<br> (Class Y) | $61 | 0.58% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US markets experienced significant volatility driven by political developments, tariff-related uncertainties and shifting Federal Reserve policies, with strong rallies fueled by optimism around artificial intelligence (AI) and resilient economic growth tempered by inflation and geopolitical risks. Despite intermittent corrections and economic slowdowns, equities ended the period near record highs, supported by robust corporate earnings and accommodative monetary policy.

 **•** For the fiscal year ended October 31, 2025, Class Y shares of the Fund returned 11.32%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 11.15%.

#### What contributed to performance?
 **JPMorgan Chase & Co. \|** JPMorgan's strong performance was fueled by record trading and investment banking revenue, resilient consumer banking, strategic rate management and shareholder-friendly actions. JPMorgan's diversified model and strong capital ratios positioned it as a standout in a volatile macro environment.

#### What detracted from performance?
 **UnitedHealth Group Inc. \|** UnitedHealth Group's decline during the fiscal year was driven by cost overruns, pricing missteps and regulatory uncertainty, compounded by leadership changes and strategic pullbacks. While revenue growth remained strong, profitability collapsed under elevated cost of care trends and compliance pressures, eroding investor confidence. We sold the holding during the fiscal year.

 **Comcast Corp. \|** Comcast's weak performance was driven by accelerating broadband and video subscriber losses, competitive pressure from fiber and 5G and pricing missteps, partially offset by wireless growth and narrowing streaming losses. Structural challenges in its core connectivity business overshadowed incremental gains in theme parks and content, raising investor's concerns. We sold the holding during the fiscal year.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9710928.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Diversified Dividend Fund (Class Y)** | 11.32% | 13.18% | 8.71% |
| **Russell 1000<sup>®</sup> Value Index** | 11.15% | 14.28% | 9.97% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$10518663310 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$43999769 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;56% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;3.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;2.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;2.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;2.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;2.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;2.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;2.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;2.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;2.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;2.32% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9710921.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since October 31, 2024. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

The Fund modified its principal investment strategies to reflect that the Fund adopted a policy to invest at least 80% of its net assets in common stocks of companies which pay dividends, and in other instruments that have economic characteristics similar to such securities.

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

DDI-AR-Y **Invesco Diversified Dividend Fund**

![TSR_logo](images_2625.jpg)

### Invesco Diversified Dividend Fund

### Investor Class: LCEIX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Diversified Dividend Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

#### This report describes changes to the Fund that occurred during the reporting period.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Diversified Dividend Fund<br> (Investor Class) | $79 | 0.75% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US markets experienced significant volatility driven by political developments, tariff-related uncertainties and shifting Federal Reserve policies, with strong rallies fueled by optimism around artificial intelligence (AI) and resilient economic growth tempered by inflation and geopolitical risks. Despite intermittent corrections and economic slowdowns, equities ended the period near record highs, supported by robust corporate earnings and accommodative monetary policy.

 **•** For the fiscal year ended October 31, 2025, Investor Class shares of the Fund returned 11.05%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 11.15%.

#### What contributed to performance?
 **JPMorgan Chase & Co. \|** JPMorgan's strong performance was fueled by record trading and investment banking revenue, resilient consumer banking, strategic rate management and shareholder-friendly actions. JPMorgan's diversified model and strong capital ratios positioned it as a standout in a volatile macro environment.

#### What detracted from performance?
 **UnitedHealth Group Inc. \|** UnitedHealth Group's decline during the fiscal year was driven by cost overruns, pricing missteps and regulatory uncertainty, compounded by leadership changes and strategic pullbacks. While revenue growth remained strong, profitability collapsed under elevated cost of care trends and compliance pressures, eroding investor confidence. We sold the holding during the fiscal year.

 **Comcast Corp. \|** Comcast's weak performance was driven by accelerating broadband and video subscriber losses, competitive pressure from fiber and 5G and pricing missteps, partially offset by wireless growth and narrowing streaming losses. Structural challenges in its core connectivity business overshadowed incremental gains in theme parks and content, raising investor's concerns. We sold the holding during the fiscal year.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9710943.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Diversified Dividend Fund (Investor Class)** | 11.05% | 12.99% | 8.52% |
| **Russell 1000<sup>®</sup> Value Index** | 11.15% | 14.28% | 9.97% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$10518663310 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$43999769 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;56% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;3.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;2.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;2.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;2.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;2.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;2.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;2.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;2.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;2.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;2.32% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9710950.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since October 31, 2024. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

The Fund modified its principal investment strategies to reflect that the Fund adopted a policy to invest at least 80% of its net assets in common stocks of companies which pay dividends, and in other instruments that have economic characteristics similar to such securities.

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

DDI-AR-INV **Invesco Diversified Dividend Fund**

![TSR_logo](images_2625.jpg)

### Invesco Diversified Dividend Fund

### Class R5: DDFIX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Diversified Dividend Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

#### This report describes changes to the Fund that occurred during the reporting period.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Diversified Dividend Fund<br> (Class R5) | $57 | 0.54% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US markets experienced significant volatility driven by political developments, tariff-related uncertainties and shifting Federal Reserve policies, with strong rallies fueled by optimism around artificial intelligence (AI) and resilient economic growth tempered by inflation and geopolitical risks. Despite intermittent corrections and economic slowdowns, equities ended the period near record highs, supported by robust corporate earnings and accommodative monetary policy.

 **•** For the fiscal year ended October 31, 2025, Class R5 shares of the Fund returned 11.25%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 11.15%.

#### What contributed to performance?
 **JPMorgan Chase & Co. \|** JPMorgan's strong performance was fueled by record trading and investment banking revenue, resilient consumer banking, strategic rate management and shareholder-friendly actions. JPMorgan's diversified model and strong capital ratios positioned it as a standout in a volatile macro environment.

#### What detracted from performance?
 **UnitedHealth Group Inc. \|** UnitedHealth Group's decline during the fiscal year was driven by cost overruns, pricing missteps and regulatory uncertainty, compounded by leadership changes and strategic pullbacks. While revenue growth remained strong, profitability collapsed under elevated cost of care trends and compliance pressures, eroding investor confidence. We sold the holding during the fiscal year.

 **Comcast Corp. \|** Comcast's weak performance was driven by accelerating broadband and video subscriber losses, competitive pressure from fiber and 5G and pricing missteps, partially offset by wireless growth and narrowing streaming losses. Structural challenges in its core connectivity business overshadowed incremental gains in theme parks and content, raising investor's concerns. We sold the holding during the fiscal year.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9710999.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Diversified Dividend Fund (Class R5)** | 11.25% | 13.21% | 8.75% |
| **Russell 1000<sup>®</sup> Value Index** | 11.15% | 14.28% | 9.97% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$10518663310 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$43999769 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;56% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;3.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;2.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;2.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;2.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;2.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;2.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;2.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;2.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;2.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;2.32% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9710993.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since October 31, 2024. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

The Fund modified its principal investment strategies to reflect that the Fund adopted a policy to invest at least 80% of its net assets in common stocks of companies which pay dividends, and in other instruments that have economic characteristics similar to such securities.

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

DDI-AR-R5 **Invesco Diversified Dividend Fund**

![TSR_logo](images_2625.jpg)

### Invesco Diversified Dividend Fund

### Class R6: LCEFX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Diversified Dividend Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

#### This report describes changes to the Fund that occurred during the reporting period.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Diversified Dividend Fund<br> (Class R6) | $50 | 0.47% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US markets experienced significant volatility driven by political developments, tariff-related uncertainties and shifting Federal Reserve policies, with strong rallies fueled by optimism around artificial intelligence (AI) and resilient economic growth tempered by inflation and geopolitical risks. Despite intermittent corrections and economic slowdowns, equities ended the period near record highs, supported by robust corporate earnings and accommodative monetary policy.

 **•** For the fiscal year ended October 31, 2025, Class R6 shares of the Fund returned 11.34%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 11.15%.

#### What contributed to performance?
 **JPMorgan Chase & Co. \|** JPMorgan's strong performance was fueled by record trading and investment banking revenue, resilient consumer banking, strategic rate management and shareholder-friendly actions. JPMorgan's diversified model and strong capital ratios positioned it as a standout in a volatile macro environment.

#### What detracted from performance?
 **UnitedHealth Group Inc. \|** UnitedHealth Group's decline during the fiscal year was driven by cost overruns, pricing missteps and regulatory uncertainty, compounded by leadership changes and strategic pullbacks. While revenue growth remained strong, profitability collapsed under elevated cost of care trends and compliance pressures, eroding investor confidence. We sold the holding during the fiscal year.

 **Comcast Corp. \|** Comcast's weak performance was driven by accelerating broadband and video subscriber losses, competitive pressure from fiber and 5G and pricing missteps, partially offset by wireless growth and narrowing streaming losses. Structural challenges in its core connectivity business overshadowed incremental gains in theme parks and content, raising investor's concerns. We sold the holding during the fiscal year.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711016.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Diversified Dividend Fund (Class R6)** | 11.34% | 13.28% | 8.84% |
| **Russell 1000<sup>®</sup> Value Index** | 11.15% | 14.28% | 9.97% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$10518663310 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;80 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$43999769 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;56% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;3.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;2.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;2.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;2.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;2.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;2.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;2.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;2.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;2.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;2.32% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711022.jpg)

### How Has The Fund Changed Over The Past Year?
This is a summary of certain changes to the Fund since October 31, 2024. For more complete information, you may review the Fund's prospectus, which is available at invesco.com/reports or upon request at (800) 959-4246.

The Fund modified its principal investment strategies to reflect that the Fund adopted a policy to invest at least 80% of its net assets in common stocks of companies which pay dividends, and in other instruments that have economic characteristics similar to such securities.

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

DDI-AR-R6 **Invesco Diversified Dividend Fund**

![TSR_logo](images_2625.jpg)

### Invesco Main Street All Cap Fund<sup>®</sup>

### Class A: OMSOX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Main Street All Cap Fund<sup>®</sup> (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Main Street All Cap Fund<sup>®</sup><br>(Class A) | $115 | 1.03% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

**•** For the fiscal year ended October 31, 2025, Class A shares of the Fund, excluding sales charge, returned 22.70%. For the same time period, the Russell 3000<sup>®</sup> Index (the "Benchmark") returned 20.81%. The Fund outperformed the Benchmark mainly as a result of stock selection in the industrials, information technology and communication services sectors. Weaker stock selection in the health care, consumer staples and energy sectors partially offset these results.

#### What contributed to performance?

**Howmet Aerospace Inc. \|** Howmet Aerospace manufactures advanced metal products for the aerospace and defense industries. The company reported earnings that beat expectations, driven by strength in its commercial aerospace segment.

#### What detracted from performance?
**UnitedHealth Group Inc. \|** UnitedHealth Group declined as it faced various internal and external challenges that weighed on its stock price during the fiscal year.

**BellRing Brands, Inc. \|** BellRing Brands is a consumer products company whose offerings include high protein beverages and supplements. Sales decelerated in the first half of 2025, while competitive pressures in the protein shake category increased.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711575.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Main Street All Cap Fund<sup>®</sup> (Class A) —including sales charge** | 15.94% | 15.97% | 12.61% |
| **Invesco Main Street All Cap Fund<sup>®</sup> (Class A) —excluding sales charge** | 22.70% | 17.29% | 13.25% |
| **Russell 3000<sup>®</sup> Index** | 20.81% | 16.74% | 14.08% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Effective after the close of business on May 24, 2019, Class A shares of Oppenheimer Main Street All Cap Fund<sup>®</sup> (the predecessor fund) were reorganized into Class A shares of the Fund. Returns shown above for periods ending on or prior to May 24, 2019 are those of Class A shares of the predecessor fund. Share class returns will differ from the predecessor fund because of different expenses.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1708034575 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;83 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$9814391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;44% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;9.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;7.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;3.28% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;1.54% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711569.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-MSA-AR-A **Invesco Main Street All Cap Fund<sup>®</sup>**

![TSR_logo](images_2625.jpg)

### Invesco Main Street All Cap Fund<sup>®</sup>

### Class C: OMSCX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Main Street All Cap Fund<sup>®</sup> (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Main Street All Cap Fund<sup>®</sup><br>(Class C) | $198 | 1.79% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

**•** For the fiscal year ended October 31, 2025, Class C shares of the Fund, excluding sales charge, returned 21.74%. For the same time period, the Russell 3000<sup>®</sup> Index (the "Benchmark") returned 20.81%. The Fund outperformed the Benchmark mainly as a result of stock selection in the industrials, information technology and communication services sectors. Weaker stock selection in the health care, consumer staples and energy sectors partially offset these results.

#### What contributed to performance?

**Howmet Aerospace Inc. \|** Howmet Aerospace manufactures advanced metal products for the aerospace and defense industries. The company reported earnings that beat expectations, driven by strength in its commercial aerospace segment.

#### What detracted from performance?
**UnitedHealth Group Inc. \|** UnitedHealth Group declined as it faced various internal and external challenges that weighed on its stock price during the fiscal year.

**BellRing Brands, Inc. \|** BellRing Brands is a consumer products company whose offerings include high protein beverages and supplements. Sales decelerated in the first half of 2025, while competitive pressures in the protein shake category increased.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711592.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Main Street All Cap Fund<sup>®</sup> (Class C) —including sales charge** | 20.74% | 16.41% | 12.58% |
| **Invesco Main Street All Cap Fund<sup>®</sup> (Class C) —excluding sales charge** | 21.74% | 16.41% | 12.58% |
| **Russell 3000<sup>®</sup> Index** | 20.81% | 16.74% | 14.08% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Effective after the close of business on May 24, 2019, Class C shares of Oppenheimer Main Street All Cap Fund<sup>®</sup> (the predecessor fund) were reorganized into Class C shares of the Fund. Returns shown above for periods ending on or prior to May 24, 2019 are those of Class C shares of the predecessor fund. Share class returns will differ from the predecessor fund because of different expenses.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1708034575 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;83 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$9814391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;44% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;9.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;7.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;3.28% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;1.54% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711598.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-MSA-AR-C **Invesco Main Street All Cap Fund<sup>®</sup>**

![TSR_logo](images_2625.jpg)

### Invesco Main Street All Cap Fund<sup>®</sup>

### Class R: OMSNX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Main Street All Cap Fund<sup>®</sup> (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Main Street All Cap Fund<sup>®</sup><br>(Class R) | $143 | 1.29% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

**•** For the fiscal year ended October 31, 2025, Class R shares of the Fund returned 22.32%. For the same time period, the Russell 3000<sup>®</sup> Index (the "Benchmark") returned 20.81%. The Fund outperformed the Benchmark mainly as a result of stock selection in the industrials, information technology and communication services sectors. Weaker stock selection in the health care, consumer staples and energy sectors partially offset these results.

#### What contributed to performance?

**Howmet Aerospace Inc. \|** Howmet Aerospace manufactures advanced metal products for the aerospace and defense industries. The company reported earnings that beat expectations, driven by strength in its commercial aerospace segment.

#### What detracted from performance?
**UnitedHealth Group Inc. \|** UnitedHealth Group declined as it faced various internal and external challenges that weighed on its stock price during the fiscal year.

**BellRing Brands, Inc. \|** BellRing Brands is a consumer products company whose offerings include high protein beverages and supplements. Sales decelerated in the first half of 2025, while competitive pressures in the protein shake category increased.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711647.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Main Street All Cap Fund<sup>®</sup> (Class R)** | 22.32% | 17.00% | 12.97% |
| **Russell 3000<sup>®</sup> Index** | 20.81% | 16.74% | 14.08% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Effective after the close of business on May 24, 2019, Class R shares of Oppenheimer Main Street All Cap Fund<sup>®</sup> (the predecessor fund) were reorganized into Class R shares of the Fund. Returns shown above for periods ending on or prior to May 24, 2019 are those of Class R shares of the predecessor fund. Share class returns will differ from the predecessor fund because of different expenses.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1708034575 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;83 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$9814391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;44% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;9.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;7.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;3.28% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;1.54% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711641.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-MSA-AR-R **Invesco Main Street All Cap Fund<sup>®</sup>**

![TSR_logo](images_2625.jpg)

### Invesco Main Street All Cap Fund<sup>®</sup>

### Class Y: OMSYX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Main Street All Cap Fund<sup>®</sup> (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Main Street All Cap Fund<sup>®</sup><br>(Class Y) | $88 | 0.79% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

**•** For the fiscal year ended October 31, 2025, Class Y shares of the Fund returned 22.97%. For the same time period, the Russell 3000<sup>®</sup> Index (the "Benchmark") returned 20.81%. The Fund outperformed the Benchmark mainly as a result of stock selection in the industrials, information technology and communication services sectors. Weaker stock selection in the health care, consumer staples and energy sectors partially offset these results.

#### What contributed to performance?

**Howmet Aerospace Inc. \|** Howmet Aerospace manufactures advanced metal products for the aerospace and defense industries. The company reported earnings that beat expectations, driven by strength in its commercial aerospace segment.

#### What detracted from performance?
**UnitedHealth Group Inc. \|** UnitedHealth Group declined as it faced various internal and external challenges that weighed on its stock price during the fiscal year.

**BellRing Brands, Inc. \|** BellRing Brands is a consumer products company whose offerings include high protein beverages and supplements. Sales decelerated in the first half of 2025, while competitive pressures in the protein shake category increased.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711736.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Main Street All Cap Fund<sup>®</sup> (Class Y)** | 22.97% | 17.58% | 13.53% |
| **Russell 3000<sup>®</sup> Index** | 20.81% | 16.74% | 14.08% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Effective after the close of business on May 24, 2019, Class Y shares of Oppenheimer Main Street All Cap Fund<sup>®</sup> (the predecessor fund) were reorganized into Class Y shares of the Fund. Returns shown above for periods ending on or prior to May 24, 2019 are those of Class Y shares of the predecessor fund. Share class returns will differ from the predecessor fund because of different expenses.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1708034575 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;83 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$9814391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;44% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;9.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;7.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;3.28% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;1.54% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711742.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-MSA-AR-Y **Invesco Main Street All Cap Fund<sup>®</sup>**

![TSR_logo](images_2625.jpg)

### Invesco Main Street All Cap Fund<sup>®</sup>

### Class R5: MSAZX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Main Street All Cap Fund<sup>®</sup> (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Main Street All Cap Fund<sup>®</sup><br>(Class R5) | $79 | 0.71% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

**•** For the fiscal year ended October 31, 2025, Class R5 shares of the Fund returned 23.05%. For the same time period, the Russell 3000<sup>®</sup> Index (the "Benchmark") returned 20.81%. The Fund outperformed the Benchmark mainly as a result of stock selection in the industrials, information technology and communication services sectors. Weaker stock selection in the health care, consumer staples and energy sectors partially offset these results.

#### What contributed to performance?

**Howmet Aerospace Inc. \|** Howmet Aerospace manufactures advanced metal products for the aerospace and defense industries. The company reported earnings that beat expectations, driven by strength in its commercial aerospace segment.

#### What detracted from performance?
**UnitedHealth Group Inc. \|** UnitedHealth Group declined as it faced various internal and external challenges that weighed on its stock price during the fiscal year.

**BellRing Brands, Inc. \|** BellRing Brands is a consumer products company whose offerings include high protein beverages and supplements. Sales decelerated in the first half of 2025, while competitive pressures in the protein shake category increased.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711664.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Main Street All Cap Fund<sup>®</sup> (Class R5)** | 23.05% | 17.67% | 13.49% |
| **Russell 3000<sup>®</sup> Index** | 20.81% | 16.74% | 14.08% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Class R5 shares incepted on May 24, 2019. Performance shown on or prior to that date is that of Oppenheimer Main Street All Cap Fund<sup>®</sup>'s (the predecessor fund) Class A shares at net asset value and includes 12b-1 fees applicable to Class A shares. Share class returns will differ from the predecessor fund because of different expenses.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1708034575 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;83 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$9814391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;44% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;9.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;7.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;3.28% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;1.54% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711670.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-MSA-AR-R5 **Invesco Main Street All Cap Fund<sup>®</sup>**

![TSR_logo](images_2625.jpg)

### Invesco Main Street All Cap Fund<sup>®</sup>

### Class R6: IOAPX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Main Street All Cap Fund<sup>®</sup> (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Main Street All Cap Fund<sup>®</sup><br>(Class R6) | $79 | 0.71% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

**•** For the fiscal year ended October 31, 2025, Class R6 shares of the Fund returned 23.07%. For the same time period, the Russell 3000<sup>®</sup> Index (the "Benchmark") returned 20.81%. The Fund outperformed the Benchmark mainly as a result of stock selection in the industrials, information technology and communication services sectors. Weaker stock selection in the health care, consumer staples and energy sectors partially offset these results.

#### What contributed to performance?

**Howmet Aerospace Inc. \|** Howmet Aerospace manufactures advanced metal products for the aerospace and defense industries. The company reported earnings that beat expectations, driven by strength in its commercial aerospace segment.

#### What detracted from performance?
**UnitedHealth Group Inc. \|** UnitedHealth Group declined as it faced various internal and external challenges that weighed on its stock price during the fiscal year.

**BellRing Brands, Inc. \|** BellRing Brands is a consumer products company whose offerings include high protein beverages and supplements. Sales decelerated in the first half of 2025, while competitive pressures in the protein shake category increased.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711719.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Main Street All Cap Fund<sup>®</sup> (Class R6)** | 23.07% | 17.69% | 13.50% |
| **Russell 3000<sup>®</sup> Index** | 20.81% | 16.74% | 14.08% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Class R6 shares incepted on May 24, 2019. Performance shown on or prior to that date is that of Oppenheimer Main Street All Cap Fund<sup>®</sup>'s (the predecessor fund) Class A shares at net asset value and includes 12b-1 fees applicable to Class A shares. Share class returns will differ from the predecessor fund because of different expenses.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1708034575 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;83 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$9814391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;44% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;9.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;7.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;3.28% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;1.54% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711713.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-MSA-AR-R6 **Invesco Main Street All Cap Fund<sup>®</sup>**

![TSR_logo](images_2625.jpg)

### Invesco Main Street Fund<sup>®</sup>

### Class A: MSIGX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Main Street Fund<sup>®</sup> (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Main Street Fund<sup>®</sup><br>(Class A) | $86 | 0.79% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

**•** For the fiscal year ended October 31, 2025, Class A shares of the Fund, excluding sales charge, returned 18.96%. For the same time period, the S&P 500<sup>®</sup> Index (the "Benchmark") returned 21.45%. The Fund underperformed the Benchmark mainly as a result of stock selection in the information technology, financials and health care sectors. Stronger stock selection in the industrials, materials and consumer staples sectors partially offset these results.

#### What contributed to performance?
**Oracle Corp. \|** Oracle delivered results that reflected surging demand for its cloud infrastructure and strong traction among large enterprise and sovereign clients, reinforcing its position as a heavyweight in the growing, AI-driven computing infrastructure market.

**General Electric Co. (GE) \|** GE saw strong demand in its commercial and military aviation segments and announced several large order commitments during the fiscal year. GE also benefited from elongated aircraft engine lifespans, which support revenue in the company's maintenance and service segment where profit margins are high.

#### What detracted from performance?
**Fiserv, Inc. \|** Fiserv reported earnings that showed a slowdown in its credit card processing volumes, which appeared to disappoint investors after several years of solid growth and market share gains for its Clover credit card processing platform. We sold the holding during the period.

**Cooper Cos., Inc. (The) \|** Cooper is a global medical devices company which declined as it faced softer demand and increased competitive pressures in its contact lens business segment. We sold the holding during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711791.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Main Street Fund<sup>®</sup> (Class A) —including sales charge** | 12.42% | 14.09% | 11.81% |
| **Invesco Main Street Fund<sup>®</sup> (Class A) —excluding sales charge** | 18.96% | 15.39% | 12.45% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Effective after the close of business on May 24, 2019, Class A shares of Oppenheimer Main Street Fund<sup>®</sup> (the predecessor fund) were reorganized into Class A shares of the Fund. Returns shown above for periods ending on or prior to May 24, 2019 are those of Class A shares of the predecessor fund. Share class returns will differ from the predecessor fund because of different expenses.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$11721930563 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;70 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$48100225 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;45% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;9.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;8.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;6.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.49% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;3.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;1.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.78% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711785.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-MST-AR-A **Invesco Main Street Fund<sup>®</sup>**

![TSR_logo](images_2625.jpg)

### Invesco Main Street Fund<sup>®</sup>

### Class C: MIGCX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Main Street Fund<sup>®</sup> (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Main Street Fund<sup>®</sup><br>(Class C) | $170 | 1.56% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

**•** For the fiscal year ended October 31, 2025, Class C shares of the Fund, excluding sales charge, returned 18.04%. For the same time period, the S&P 500<sup>®</sup> Index (the "Benchmark") returned 21.45%. The Fund underperformed the Benchmark mainly as a result of stock selection in the information technology, financials and health care sectors. Stronger stock selection in the industrials, materials and consumer staples sectors partially offset these results.

#### What contributed to performance?
**Oracle Corp. \|** Oracle delivered results that reflected surging demand for its cloud infrastructure and strong traction among large enterprise and sovereign clients, reinforcing its position as a heavyweight in the growing, AI-driven computing infrastructure market.

**General Electric Co. (GE) \|** GE saw strong demand in its commercial and military aviation segments and announced several large order commitments during the fiscal year. GE also benefited from elongated aircraft engine lifespans, which support revenue in the company's maintenance and service segment where profit margins are high.

#### What detracted from performance?
**Fiserv, Inc. \|** Fiserv reported earnings that showed a slowdown in its credit card processing volumes, which appeared to disappoint investors after several years of solid growth and market share gains for its Clover credit card processing platform. We sold the holding during the period.

**Cooper Cos., Inc. (The) \|** Cooper is a global medical devices company which declined as it faced softer demand and increased competitive pressures in its contact lens business segment. We sold the holding during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711808.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Main Street Fund<sup>®</sup> (Class C) —including sales charge** | 17.05% | 14.50% | 11.76% |
| **Invesco Main Street Fund<sup>®</sup> (Class C) —excluding sales charge** | 18.04% | 14.50% | 11.76% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Effective after the close of business on May 24, 2019, Class C shares of Oppenheimer Main Street Fund<sup>®</sup> (the predecessor fund) were reorganized into Class C shares of the Fund. Returns shown above for periods ending on or prior to May 24, 2019 are those of Class C shares of the predecessor fund. Share class returns will differ from the predecessor fund because of different expenses.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$11721930563 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;70 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$48100225 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;45% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;9.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;8.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;6.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.49% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;3.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;1.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.78% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711814.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-MST-AR-C **Invesco Main Street Fund<sup>®</sup>**

![TSR_logo](images_2625.jpg)

### Invesco Main Street Fund<sup>®</sup>

### Class R: OMGNX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Main Street Fund<sup>®</sup> (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Main Street Fund<sup>®</sup><br>(Class R) | $116 | 1.06% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

**•** For the fiscal year ended October 31, 2025, Class R shares of the Fund returned 18.65%. For the same time period, the S&P 500<sup>®</sup> Index (the "Benchmark") returned 21.45%. The Fund underperformed the Benchmark mainly as a result of stock selection in the information technology, financials and health care sectors. Stronger stock selection in the industrials, materials and consumer staples sectors partially offset these results.

#### What contributed to performance?
**Oracle Corp. \|** Oracle delivered results that reflected surging demand for its cloud infrastructure and strong traction among large enterprise and sovereign clients, reinforcing its position as a heavyweight in the growing, AI-driven computing infrastructure market.

**General Electric Co. (GE) \|** GE saw strong demand in its commercial and military aviation segments and announced several large order commitments during the fiscal year. GE also benefited from elongated aircraft engine lifespans, which support revenue in the company's maintenance and service segment where profit margins are high.

#### What detracted from performance?
**Fiserv, Inc. \|** Fiserv reported earnings that showed a slowdown in its credit card processing volumes, which appeared to disappoint investors after several years of solid growth and market share gains for its Clover credit card processing platform. We sold the holding during the period.

**Cooper Cos., Inc. (The) \|** Cooper is a global medical devices company which declined as it faced softer demand and increased competitive pressures in its contact lens business segment. We sold the holding during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711863.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Main Street Fund<sup>®</sup> (Class R)** | 18.65% | 15.08% | 12.14% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Effective after the close of business on May 24, 2019, Class R shares of Oppenheimer Main Street Fund<sup>®</sup> (the predecessor fund) were reorganized into Class R shares of the Fund. Returns shown above for periods ending on or prior to May 24, 2019 are those of Class R shares of the predecessor fund. Share class returns will differ from the predecessor fund because of different expenses.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$11721930563 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;70 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$48100225 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;45% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;9.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;8.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;6.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.49% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;3.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;1.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.78% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711857.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-MST-AR-R **Invesco Main Street Fund<sup>®</sup>**

![TSR_logo](images_2625.jpg)

### Invesco Main Street Fund<sup>®</sup>

### Class Y: MIGYX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Main Street Fund<sup>®</sup> (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Main Street Fund<sup>®</sup><br>(Class Y) | $61 | 0.56% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

**•** For the fiscal year ended October 31, 2025, Class Y shares of the Fund returned 19.23%. For the same time period, the S&P 500<sup>®</sup> Index (the "Benchmark") returned 21.45%. The Fund underperformed the Benchmark mainly as a result of stock selection in the information technology, financials and health care sectors. Stronger stock selection in the industrials, materials and consumer staples sectors partially offset these results.

#### What contributed to performance?
**Oracle Corp. \|** Oracle delivered results that reflected surging demand for its cloud infrastructure and strong traction among large enterprise and sovereign clients, reinforcing its position as a heavyweight in the growing, AI-driven computing infrastructure market.

**General Electric Co. (GE) \|** GE saw strong demand in its commercial and military aviation segments and announced several large order commitments during the fiscal year. GE also benefited from elongated aircraft engine lifespans, which support revenue in the company's maintenance and service segment where profit margins are high.

#### What detracted from performance?
**Fiserv, Inc. \|** Fiserv reported earnings that showed a slowdown in its credit card processing volumes, which appeared to disappoint investors after several years of solid growth and market share gains for its Clover credit card processing platform. We sold the holding during the period.

**Cooper Cos., Inc. (The) \|** Cooper is a global medical devices company which declined as it faced softer demand and increased competitive pressures in its contact lens business segment. We sold the holding during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711950.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Main Street Fund<sup>®</sup> (Class Y)** | 19.23% | 15.65% | 12.70% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Effective after the close of business on May 24, 2019, Class Y shares of Oppenheimer Main Street Fund<sup>®</sup> (the predecessor fund) were reorganized into Class Y shares of the Fund. Returns shown above for periods ending on or prior to May 24, 2019 are those of Class Y shares of the predecessor fund. Share class returns will differ from the predecessor fund because of different expenses.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$11721930563 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;70 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$48100225 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;45% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;9.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;8.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;6.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.49% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;3.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;1.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.78% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711956.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-MST-AR-Y **Invesco Main Street Fund<sup>®</sup>**

![TSR_logo](images_2625.jpg)

### Invesco Main Street Fund<sup>®</sup>

### Class R5: MSJFX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Main Street Fund<sup>®</sup> (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Main Street Fund<sup>®</sup><br>(Class R5) | $54 | 0.49% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

**•** For the fiscal year ended October 31, 2025, Class R5 shares of the Fund returned 19.30%. For the same time period, the S&P 500<sup>®</sup> Index (the "Benchmark") returned 21.45%. The Fund underperformed the Benchmark mainly as a result of stock selection in the information technology, financials and health care sectors. Stronger stock selection in the industrials, materials and consumer staples sectors partially offset these results.

#### What contributed to performance?
**Oracle Corp. \|** Oracle delivered results that reflected surging demand for its cloud infrastructure and strong traction among large enterprise and sovereign clients, reinforcing its position as a heavyweight in the growing, AI-driven computing infrastructure market.

**General Electric Co. (GE) \|** GE saw strong demand in its commercial and military aviation segments and announced several large order commitments during the fiscal year. GE also benefited from elongated aircraft engine lifespans, which support revenue in the company's maintenance and service segment where profit margins are high.

#### What detracted from performance?
**Fiserv, Inc. \|** Fiserv reported earnings that showed a slowdown in its credit card processing volumes, which appeared to disappoint investors after several years of solid growth and market share gains for its Clover credit card processing platform. We sold the holding during the period.

**Cooper Cos., Inc. (The) \|** Cooper is a global medical devices company which declined as it faced softer demand and increased competitive pressures in its contact lens business segment. We sold the holding during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711880.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Main Street Fund<sup>®</sup> (Class R5)** | 19.30% | 15.75% | 12.67% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Class R5 shares incepted on May 24, 2019. Performance shown on or prior to that date is that of Oppenheimer Main Street Fund<sup>®</sup>'s (the predecessor fund) Class A shares at net asset value and includes 12b-1 fees applicable to Class A shares. Share class returns will differ from the predecessor fund because of different expenses.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$11721930563 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;70 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$48100225 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;45% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;9.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;8.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;6.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.49% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;3.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;1.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.78% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711885.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-MST-AR-R5 **Invesco Main Street Fund<sup>®</sup>**

![TSR_logo](images_2625.jpg)

### Invesco Main Street Fund<sup>®</sup>

### Class R6: OMSIX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Main Street Fund<sup>®</sup> (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Main Street Fund<sup>®</sup><br>(Class R6) | $54 | 0.49% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US equities reached record highs despite volatility driven by enthusiasm for artificial intelligence (AI), easing trade concerns and the Federal Reserve's move to cut interest rates.

**•** For the fiscal year ended October 31, 2025, Class R6 shares of the Fund returned 19.30%. For the same time period, the S&P 500<sup>®</sup> Index (the "Benchmark") returned 21.45%. The Fund underperformed the Benchmark mainly as a result of stock selection in the information technology, financials and health care sectors. Stronger stock selection in the industrials, materials and consumer staples sectors partially offset these results.

#### What contributed to performance?
**Oracle Corp. \|** Oracle delivered results that reflected surging demand for its cloud infrastructure and strong traction among large enterprise and sovereign clients, reinforcing its position as a heavyweight in the growing, AI-driven computing infrastructure market.

**General Electric Co. (GE) \|** GE saw strong demand in its commercial and military aviation segments and announced several large order commitments during the fiscal year. GE also benefited from elongated aircraft engine lifespans, which support revenue in the company's maintenance and service segment where profit margins are high.

#### What detracted from performance?
**Fiserv, Inc. \|** Fiserv reported earnings that showed a slowdown in its credit card processing volumes, which appeared to disappoint investors after several years of solid growth and market share gains for its Clover credit card processing platform. We sold the holding during the period.

**Cooper Cos., Inc. (The) \|** Cooper is a global medical devices company which declined as it faced softer demand and increased competitive pressures in its contact lens business segment. We sold the holding during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711936.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Main Street Fund<sup>®</sup> (Class R6)** | 19.30% | 15.74% | 12.84% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Effective after the close of business on May 24, 2019, Class I shares of Oppenheimer Main Street Fund<sup>®</sup> (the predecessor fund) were reorganized into Class R6 shares of the Fund. Returns shown above for periods ending on or prior to May 24, 2019 are those of Class I shares of the predecessor fund. Share class returns will differ from the predecessor fund because of different expenses.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$11721930563 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;70 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$48100225 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;45% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;9.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;8.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;6.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;4.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.49% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;3.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;1.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.78% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711931.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-MST-AR-R6 **Invesco Main Street Fund<sup>®</sup>**

![TSR_logo](images_2625.jpg)

### Invesco Rising Dividends Fund

### Class A: OARDX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Rising Dividends Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Rising Dividends Fund<br> (Class A) | $105 | 0.96% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US markets experienced significant volatility driven by political developments, tariff-related uncertainties and shifting Federal Reserve policies, with strong rallies fueled by optimism around artificial intelligence (AI) and resilient economic growth tempered by inflation and geopolitical risks. Despite intermittent corrections and economic slowdowns, equities ended the period near record highs, supported by robust corporate earnings and accommodative monetary policy.

 **•** For the fiscal year ended October 31, 2025, Class A shares of the Fund, excluding sales charges, returned 17.72%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 21.14%. The Fund underperformed the Benchmark primarily due to weaker stock selection in the consumer discretionary sector. These results were partially offset by strong stock selection in the financials sector.

#### What contributed to performance?
 **Broadcom, Inc. \|** Broadcom's strong performance during the fiscal year was driven by explosive AI semiconductor growth, strategic hyperscale partnerships and robust financial execution, complemented by VMware's stable software revenue and strong shareholder returns. Its positioning as a key enabler of AI infrastructure made it one of the standout performers in technology during the fiscal year.

#### What detracted from performance?
 **Accenture plc \|** Accenture's stock price fell due to declining bookings, government contract headwinds, soft discretionary information technology spending and margin pressure from restructuring, despite solid revenue and earnings per share growth. Investor focus shifted to forward-looking indicators and cautious fiscal year 2026 guidance amplified concerns about near-term growth. We sold the holding during the fiscal year.

 **UnitedHealth Group, Inc. \|** UnitedHealth Group's decline during the fiscal year was driven by cost overruns, pricing missteps and regulatory uncertainty, compounded by leadership changes and strategic pullbacks. While revenue growth remained strong, profitability collapsed under elevated cost of care trends and compliance pressures, eroding investor confidence.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9712009.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Rising Dividends Fund (Class A) —including sales charge** | 11.26% | 14.15% | 10.99% |
| **Invesco Rising Dividends Fund (Class A) —excluding sales charge** | 17.72% | 15.44% | 11.62% |
| **Russell 1000<sup>®</sup> Index** | 21.14% | 17.05% | 14.39% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Effective after the close of business on May 24, 2019, Class A shares of Oppenheimer Rising Dividend Fund (the predecessor fund) were reorganized into Class A shares of the Fund. Returns shown above for periods ending on or prior to May 24, 2019 are those of Class A shares of the predecessor fund. Share class returns will differ from the predecessor fund because of different expenses.

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3432795185 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;71 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$18764810 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;34% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;6.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;1.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.60% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9712003.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-RISD-AR-A **Invesco Rising Dividends Fund**

![TSR_logo](images_2625.jpg)

### Invesco Rising Dividends Fund

### Class C: OCRDX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Rising Dividends Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Rising Dividends Fund<br> (Class C) | $185 | 1.71% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US markets experienced significant volatility driven by political developments, tariff-related uncertainties and shifting Federal Reserve policies, with strong rallies fueled by optimism around artificial intelligence (AI) and resilient economic growth tempered by inflation and geopolitical risks. Despite intermittent corrections and economic slowdowns, equities ended the period near record highs, supported by robust corporate earnings and accommodative monetary policy.

 **•** For the fiscal year ended October 31, 2025, Class C shares of the Fund, excluding sales charges, returned 16.81%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 21.14%. The Fund underperformed the Benchmark primarily due to weaker stock selection in the consumer discretionary sector. These results were partially offset by strong stock selection in the financials sector.

#### What contributed to performance?
 **Broadcom, Inc. \|** Broadcom's strong performance during the fiscal year was driven by explosive AI semiconductor growth, strategic hyperscale partnerships and robust financial execution, complemented by VMware's stable software revenue and strong shareholder returns. Its positioning as a key enabler of AI infrastructure made it one of the standout performers in technology during the fiscal year.

#### What detracted from performance?
 **Accenture plc \|** Accenture's stock price fell due to declining bookings, government contract headwinds, soft discretionary information technology spending and margin pressure from restructuring, despite solid revenue and earnings per share growth. Investor focus shifted to forward-looking indicators and cautious fiscal year 2026 guidance amplified concerns about near-term growth. We sold the holding during the fiscal year.

 **UnitedHealth Group, Inc. \|** UnitedHealth Group's decline during the fiscal year was driven by cost overruns, pricing missteps and regulatory uncertainty, compounded by leadership changes and strategic pullbacks. While revenue growth remained strong, profitability collapsed under elevated cost of care trends and compliance pressures, eroding investor confidence.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9712022.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Rising Dividends Fund (Class C) —including sales charge** | 15.81% | 14.58% | 10.95% |
| **Invesco Rising Dividends Fund (Class C) —excluding sales charge** | 16.81% | 14.58% | 10.95% |
| **Russell 1000<sup>®</sup> Index** | 21.14% | 17.05% | 14.39% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Effective after the close of business on May 24, 2019, Class C shares of Oppenheimer Rising Dividend Fund (the predecessor fund) were reorganized into Class C shares of the Fund. Returns shown above for periods ending on or prior to May 24, 2019 are those of Class C shares of the predecessor fund. Share class returns will differ from the predecessor fund because of different expenses.

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3432795185 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;71 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$18764810 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;34% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;6.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;1.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.60% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9712028.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-RISD-AR-C **Invesco Rising Dividends Fund**

![TSR_logo](images_2625.jpg)

### Invesco Rising Dividends Fund

### Class R: ONRDX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Rising Dividends Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Rising Dividends Fund<br> (Class R) | $132 | 1.21% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US markets experienced significant volatility driven by political developments, tariff-related uncertainties and shifting Federal Reserve policies, with strong rallies fueled by optimism around artificial intelligence (AI) and resilient economic growth tempered by inflation and geopolitical risks. Despite intermittent corrections and economic slowdowns, equities ended the period near record highs, supported by robust corporate earnings and accommodative monetary policy.

 **•** For the fiscal year ended October 31, 2025, Class R shares of the Fund returned 17.48%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 21.14%. The Fund underperformed the Benchmark primarily due to weaker stock selection in the consumer discretionary sector. These results were partially offset by strong stock selection in the financials sector.

#### What contributed to performance?
 **Broadcom, Inc. \|** Broadcom's strong performance during the fiscal year was driven by explosive AI semiconductor growth, strategic hyperscale partnerships and robust financial execution, complemented by VMware's stable software revenue and strong shareholder returns. Its positioning as a key enabler of AI infrastructure made it one of the standout performers in technology during the fiscal year.

#### What detracted from performance?
 **Accenture plc \|** Accenture's stock price fell due to declining bookings, government contract headwinds, soft discretionary information technology spending and margin pressure from restructuring, despite solid revenue and earnings per share growth. Investor focus shifted to forward-looking indicators and cautious fiscal year 2026 guidance amplified concerns about near-term growth. We sold the holding during the fiscal year.

 **UnitedHealth Group, Inc. \|** UnitedHealth Group's decline during the fiscal year was driven by cost overruns, pricing missteps and regulatory uncertainty, compounded by leadership changes and strategic pullbacks. While revenue growth remained strong, profitability collapsed under elevated cost of care trends and compliance pressures, eroding investor confidence.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9712081.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Rising Dividends Fund (Class R)** | 17.48% | 15.17% | 11.34% |
| **Russell 1000<sup>®</sup> Index** | 21.14% | 17.05% | 14.39% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Effective after the close of business on May 24, 2019, Class R shares of Oppenheimer Rising Dividend Fund (the predecessor fund) were reorganized into Class R shares of the Fund. Returns shown above for periods ending on or prior to May 24, 2019 are those of Class R shares of the predecessor fund. Share class returns will differ from the predecessor fund because of different expenses.

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3432795185 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;71 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$18764810 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;34% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;6.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;1.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.60% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9712076.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-RISD-AR-R **Invesco Rising Dividends Fund**

![TSR_logo](images_2625.jpg)

### Invesco Rising Dividends Fund

### Class Y: OYRDX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Rising Dividends Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Rising Dividends Fund<br> (Class Y) | $77 | 0.71% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US markets experienced significant volatility driven by political developments, tariff-related uncertainties and shifting Federal Reserve policies, with strong rallies fueled by optimism around artificial intelligence (AI) and resilient economic growth tempered by inflation and geopolitical risks. Despite intermittent corrections and economic slowdowns, equities ended the period near record highs, supported by robust corporate earnings and accommodative monetary policy.

 **•** For the fiscal year ended October 31, 2025, Class Y shares of the Fund returned 18.02%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 21.14%. The Fund underperformed the Benchmark primarily due to weaker stock selection in the consumer discretionary sector. These results were partially offset by strong stock selection in the financials sector.

#### What contributed to performance?
 **Broadcom, Inc. \|** Broadcom's strong performance during the fiscal year was driven by explosive AI semiconductor growth, strategic hyperscale partnerships and robust financial execution, complemented by VMware's stable software revenue and strong shareholder returns. Its positioning as a key enabler of AI infrastructure made it one of the standout performers in technology during the fiscal year.

#### What detracted from performance?
 **Accenture plc \|** Accenture's stock price fell due to declining bookings, government contract headwinds, soft discretionary information technology spending and margin pressure from restructuring, despite solid revenue and earnings per share growth. Investor focus shifted to forward-looking indicators and cautious fiscal year 2026 guidance amplified concerns about near-term growth. We sold the holding during the fiscal year.

 **UnitedHealth Group, Inc. \|** UnitedHealth Group's decline during the fiscal year was driven by cost overruns, pricing missteps and regulatory uncertainty, compounded by leadership changes and strategic pullbacks. While revenue growth remained strong, profitability collapsed under elevated cost of care trends and compliance pressures, eroding investor confidence.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9712167.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Rising Dividends Fund (Class Y)** | 18.02% | 15.74% | 11.89% |
| **Russell 1000<sup>®</sup> Index** | 21.14% | 17.05% | 14.39% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Effective after the close of business on May 24, 2019, Class Y shares of Oppenheimer Rising Dividend Fund (the predecessor fund) were reorganized into Class Y shares of the Fund. Returns shown above for periods ending on or prior to May 24, 2019 are those of Class Y shares of the predecessor fund. Share class returns will differ from the predecessor fund because of different expenses.

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3432795185 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;71 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$18764810 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;34% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;6.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;1.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.60% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9712172.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-RISD-AR-Y **Invesco Rising Dividends Fund**

![TSR_logo](images_2625.jpg)

### Invesco Rising Dividends Fund

### Class R5: RSDQX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Rising Dividends Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Rising Dividends Fund<br> (Class R5) | $70 | 0.64% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US markets experienced significant volatility driven by political developments, tariff-related uncertainties and shifting Federal Reserve policies, with strong rallies fueled by optimism around artificial intelligence (AI) and resilient economic growth tempered by inflation and geopolitical risks. Despite intermittent corrections and economic slowdowns, equities ended the period near record highs, supported by robust corporate earnings and accommodative monetary policy.

 **•** For the fiscal year ended October 31, 2025, Class R5 shares of the Fund returned 18.12%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 21.14%. The Fund underperformed the Benchmark primarily due to weaker stock selection in the consumer discretionary sector. These results were partially offset by strong stock selection in the financials sector.

#### What contributed to performance?
 **Broadcom, Inc. \|** Broadcom's strong performance during the fiscal year was driven by explosive AI semiconductor growth, strategic hyperscale partnerships and robust financial execution, complemented by VMware's stable software revenue and strong shareholder returns. Its positioning as a key enabler of AI infrastructure made it one of the standout performers in technology during the fiscal year.

#### What detracted from performance?
 **Accenture plc \|** Accenture's stock price fell due to declining bookings, government contract headwinds, soft discretionary information technology spending and margin pressure from restructuring, despite solid revenue and earnings per share growth. Investor focus shifted to forward-looking indicators and cautious fiscal year 2026 guidance amplified concerns about near-term growth. We sold the holding during the fiscal year.

 **UnitedHealth Group, Inc. \|** UnitedHealth Group's decline during the fiscal year was driven by cost overruns, pricing missteps and regulatory uncertainty, compounded by leadership changes and strategic pullbacks. While revenue growth remained strong, profitability collapsed under elevated cost of care trends and compliance pressures, eroding investor confidence.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9712094.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Rising Dividends Fund (Class R5)** | 18.12% | 15.84% | 11.87% |
| **Russell 1000<sup>®</sup> Index** | 21.14% | 17.05% | 14.39% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Class R5 shares incepted on May 24, 2019. Performance shown on or prior to that date is that of Oppenheimer Rising Dividend Fund's (the predecessor fund) Class A shares at net asset value and includes 12b-1 fees applicable to Class A shares. Share class returns will differ from the predecessor fund because of different expenses.

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3432795185 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;71 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$18764810 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;34% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;6.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;1.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.60% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9712099.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-RISD-AR-R5 **Invesco Rising Dividends Fund**

![TSR_logo](images_2625.jpg)

### Invesco Rising Dividends Fund

### Class R6: OIRDX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Rising Dividends Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
 *(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| Invesco Rising Dividends Fund<br> (Class R6) | $70 | 0.64% |

---

### How Did The Fund Perform During The Period?
 **•** During the fiscal year ended October 31, 2025, US markets experienced significant volatility driven by political developments, tariff-related uncertainties and shifting Federal Reserve policies, with strong rallies fueled by optimism around artificial intelligence (AI) and resilient economic growth tempered by inflation and geopolitical risks. Despite intermittent corrections and economic slowdowns, equities ended the period near record highs, supported by robust corporate earnings and accommodative monetary policy.

 **•** For the fiscal year ended October 31, 2025, Class R6 shares of the Fund returned 18.14%. For the same time period, the Russell 1000<sup>®</sup> Index (the "Benchmark") returned 21.14%. The Fund underperformed the Benchmark primarily due to weaker stock selection in the consumer discretionary sector. These results were partially offset by strong stock selection in the financials sector.

#### What contributed to performance?
 **Broadcom, Inc. \|** Broadcom's strong performance during the fiscal year was driven by explosive AI semiconductor growth, strategic hyperscale partnerships and robust financial execution, complemented by VMware's stable software revenue and strong shareholder returns. Its positioning as a key enabler of AI infrastructure made it one of the standout performers in technology during the fiscal year.

#### What detracted from performance?
 **Accenture plc \|** Accenture's stock price fell due to declining bookings, government contract headwinds, soft discretionary information technology spending and margin pressure from restructuring, despite solid revenue and earnings per share growth. Investor focus shifted to forward-looking indicators and cautious fiscal year 2026 guidance amplified concerns about near-term growth. We sold the holding during the fiscal year.

 **UnitedHealth Group, Inc. \|** UnitedHealth Group's decline during the fiscal year was driven by cost overruns, pricing missteps and regulatory uncertainty, compounded by leadership changes and strategic pullbacks. While revenue growth remained strong, profitability collapsed under elevated cost of care trends and compliance pressures, eroding investor confidence.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9712153.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Rising Dividends Fund (Class R6)** | 18.14% | 15.83% | 12.04% |
| **Russell 1000<sup>®</sup> Index** | 21.14% | 17.05% | 14.39% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Effective after the close of business on May 24, 2019, Class I shares of Oppenheimer Rising Dividend Fund (the predecessor fund) were reorganized into Class R6 shares of the Fund. Returns shown above for periods ending on or prior to May 24, 2019 are those of Class I shares of the predecessor fund. Share class returns will differ from the predecessor fund because of different expenses.

  ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3432795185 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;71 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$18764810 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;34% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

 **Top ten holdings\***

 **(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;6.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;6.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;5.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;3.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;2.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;2.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;1.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;1.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly and Co. | &nbsp;&nbsp;&nbsp;1.60% |
| \* Excluding money market fund holdings, if any. |  |

---

 **Sector allocation** 

 **(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9712148.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

O-RISD-AR-R6 **Invesco Rising Dividends Fund**

![TSR_logo](images_2625.jpg)

### Invesco Summit Fund

### Class A: ASMMX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Summit Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Summit Fund<br>(Class A) | $110 | 0.97% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US large-cap growth equities posted robust gains, buoyed by continued enthusiasm for artificial intelligence (AI) and other secular growth themes, as well as a supportive macroeconomic backdrop marked by easing interest rates and resilient consumer spending.

**•** For the fiscal year ended October 31, 2025, Class A shares of the Fund, excluding sales charge, returned 25.81%. For the same time period, the Russell 1000<sup>®</sup> Growth Index (the "Benchmark") returned 30.52%. The Fund's underperformance relative to the Benchmark was primarily driven by sector positioning and stock selection in the financials, communication services and materials sectors. An underweight exposure in the information technology and consumer discretionary sectors, as well as minimal ancillary cash, also detracted from relative performance. These results were partially offset by stock selection in industrials, health care and energy sectors.

#### What contributed to performance?
**NVIDIA Corp. \|** NVIDIA is a company at the heart of digital transformation as it produces graphics processing units (GPUs) with sustainable demand to support the proliferation of the AI industry. NVIDIA's most advanced GPU, the Blackwell B100, is already sold out until the end of 2025.

**Broadcom Inc. \|** Broadcom is strongly positioned in AI chips, particularly those optimized for inference workloads. As inference adoption accelerates across AI applications, Broadcom's leadership in this segment underscores its critical role in enabling next-generation AI infrastructure.

#### What detracted from performance?
**Monday.com Ltd. \|** Monday.com faced mixed dynamics during the period. While enterprise demand remains strong and its move upmarket is progressing, new customer growth came under pressure following Google's algorithm changes. The company's AI-powered tools like Magic and Sidekick are helping optimize marketing spend, but projected 2025 growth of 26% fell short of prior estimates. The Fund's investment team sold the position during the period.

**Trade Desk, Inc. \|** Trade Desk is a leading independent demand-side platform in digital advertising, focused on the open internet and AI-driven solutions. While the company maintains a strong market position, challenges around the transition to its Kokai platform and salesforce reorganization, along with share loss to competitors, persisted. The Fund's investment team sold the position during the period.

**KKR & Co. Inc. \|** KKR & Co. is a global investment firm that has diversified sharply away from US private equity. While earnings growth has remained strong, alternatives have not been rewarded for strong results and progress on expanding 401(k) access to alternatives remains a long-term initiative. The Fund's investment team reduced the position during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711304.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Summit Fund (Class A) —including sales charge** | 18.89% | 12.20% | 14.33% |
| **Invesco Summit Fund (Class A) —excluding sales charge** | 25.81% | 13.47% | 14.97% |
| **Russell 1000<sup>®</sup> Growth Index** | 30.52% | 19.24% | 18.28% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3900984569 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$22171068 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;58% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;13.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;6.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;5.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;5.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;4.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;3.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;AppLovin Corp., Class A | &nbsp;&nbsp;&nbsp;2.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla, Inc. | &nbsp;&nbsp;&nbsp;2.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;Arista Networks, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711310.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

SUM-AR-A **Invesco Summit Fund**

![TSR_logo](images_2625.jpg)

### Invesco Summit Fund

### Class C: CSMMX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Summit Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Summit Fund<br>(Class C) | $193 | 1.72% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US large-cap growth equities posted robust gains, buoyed by continued enthusiasm for artificial intelligence (AI) and other secular growth themes, as well as a supportive macroeconomic backdrop marked by easing interest rates and resilient consumer spending.

**•** For the fiscal year ended October 31, 2025, Class C shares of the Fund, excluding sales charge, returned 24.86%. For the same time period, the Russell 1000<sup>®</sup> Growth Index (the "Benchmark") returned 30.52%. The Fund's underperformance relative to the Benchmark was primarily driven by sector positioning and stock selection in the financials, communication services and materials sectors. An underweight exposure in the information technology and consumer discretionary sectors, as well as minimal ancillary cash, also detracted from relative performance. These results were partially offset by stock selection in industrials, health care and energy sectors.

#### What contributed to performance?
**NVIDIA Corp. \|** NVIDIA is a company at the heart of digital transformation as it produces graphics processing units (GPUs) with sustainable demand to support the proliferation of the AI industry. NVIDIA's most advanced GPU, the Blackwell B100, is already sold out until the end of 2025.

**Broadcom Inc. \|** Broadcom is strongly positioned in AI chips, particularly those optimized for inference workloads. As inference adoption accelerates across AI applications, Broadcom's leadership in this segment underscores its critical role in enabling next-generation AI infrastructure.

#### What detracted from performance?
**Monday.com Ltd. \|** Monday.com faced mixed dynamics during the period. While enterprise demand remains strong and its move upmarket is progressing, new customer growth came under pressure following Google's algorithm changes. The company's AI-powered tools like Magic and Sidekick are helping optimize marketing spend, but projected 2025 growth of 26% fell short of prior estimates. The Fund's investment team sold the position during the period.

**Trade Desk, Inc. \|** Trade Desk is a leading independent demand-side platform in digital advertising, focused on the open internet and AI-driven solutions. While the company maintains a strong market position, challenges around the transition to its Kokai platform and salesforce reorganization, along with share loss to competitors, persisted. The Fund's investment team sold the position during the period.

**KKR & Co. Inc. \|** KKR & Co. is a global investment firm that has diversified sharply away from US private equity. While earnings growth has remained strong, alternatives have not been rewarded for strong results and progress on expanding 401(k) access to alternatives remains a long-term initiative. The Fund's investment team reduced the position during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711359.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Summit Fund (Class C) —including sales charge** | 23.86% | 12.63% | 14.29% |
| **Invesco Summit Fund (Class C) —excluding sales charge** | 24.86% | 12.63% | 14.29% |
| **Russell 1000<sup>®</sup> Growth Index** | 30.52% | 19.24% | 18.28% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3900984569 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$22171068 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;58% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;13.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;6.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;5.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;5.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;4.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;3.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;AppLovin Corp., Class A | &nbsp;&nbsp;&nbsp;2.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla, Inc. | &nbsp;&nbsp;&nbsp;2.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;Arista Networks, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711353.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

SUM-AR-C **Invesco Summit Fund**

![TSR_logo](images_2625.jpg)

### Invesco Summit Fund

### Class P: SMMIX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Summit Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Summit Fund<br>(Class P) | $93 | 0.82% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US large-cap growth equities posted robust gains, buoyed by continued enthusiasm for artificial intelligence (AI) and other secular growth themes, as well as a supportive macroeconomic backdrop marked by easing interest rates and resilient consumer spending.

**•** For the fiscal year ended October 31, 2025, Class P shares of the Fund returned 26.02%. For the same time period, the Russell 1000<sup>®</sup> Growth Index (the "Benchmark") returned 30.52%. The Fund's underperformance relative to the Benchmark was primarily driven by sector positioning and stock selection in the financials, communication services and materials sectors. An underweight exposure in the information technology and consumer discretionary sectors, as well as minimal ancillary cash, also detracted from relative performance. These results were partially offset by stock selection in industrials, health care and energy sectors.

#### What contributed to performance?
**NVIDIA Corp. \|** NVIDIA is a company at the heart of digital transformation as it produces graphics processing units (GPUs) with sustainable demand to support the proliferation of the AI industry. NVIDIA's most advanced GPU, the Blackwell B100, is already sold out until the end of 2025.

**Broadcom Inc. \|** Broadcom is strongly positioned in AI chips, particularly those optimized for inference workloads. As inference adoption accelerates across AI applications, Broadcom's leadership in this segment underscores its critical role in enabling next-generation AI infrastructure.

#### What detracted from performance?
**Monday.com Ltd. \|** Monday.com faced mixed dynamics during the period. While enterprise demand remains strong and its move upmarket is progressing, new customer growth came under pressure following Google's algorithm changes. The company's AI-powered tools like Magic and Sidekick are helping optimize marketing spend, but projected 2025 growth of 26% fell short of prior estimates. The Fund's investment team sold the position during the period.

**Trade Desk, Inc. \|** Trade Desk is a leading independent demand-side platform in digital advertising, focused on the open internet and AI-driven solutions. While the company maintains a strong market position, challenges around the transition to its Kokai platform and salesforce reorganization, along with share loss to competitors, persisted. The Fund's investment team sold the position during the period.

**KKR & Co. Inc. \|** KKR & Co. is a global investment firm that has diversified sharply away from US private equity. While earnings growth has remained strong, alternatives have not been rewarded for strong results and progress on expanding 401(k) access to alternatives remains a long-term initiative. The Fund's investment team reduced the position during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711503.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Summit Fund (Class P)** | 26.02% | 13.65% | 15.15% |
| **Russell 1000<sup>®</sup> Growth Index** | 30.52% | 19.24% | 18.28% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3900984569 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$22171068 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;58% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;13.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;6.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;5.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;5.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;4.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;3.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;AppLovin Corp., Class A | &nbsp;&nbsp;&nbsp;2.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla, Inc. | &nbsp;&nbsp;&nbsp;2.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;Arista Networks, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711497.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

SUM-AR-P **Invesco Summit Fund**

![TSR_logo](images_2625.jpg)

### Invesco Summit Fund

### Class R: SMMRX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Summit Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment<sup>▼</sup>** | **Costs paid as a percentage<br>of a $10,000 investment\*** |
| Invesco Summit Fund<br>(Class R) | $11 | 1.22% |

---

---

| | |
|:---|:---|
| **<sup>▼</sup>**  | *For the period September 30, 2025 (commencement of operations) to October 31, 2025. Expenses for a full reporting period would be higher.* |
| *\** | **Annualized.**  |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US large-cap growth equities posted robust gains, buoyed by continued enthusiasm for artificial intelligence (AI) and other secular growth themes, as well as a supportive macroeconomic backdrop marked by easing interest rates and resilient consumer spending.

**•** For the fiscal year ended October 31, 2025, Class R shares of the Fund returned 25.48%. For the same time period, the Russell 1000<sup>®</sup> Growth Index (the "Benchmark") returned 30.52%. The Fund's underperformance relative to the Benchmark was primarily driven by sector positioning and stock selection in the financials, communication services and materials sectors. An underweight exposure in the information technology and consumer discretionary sectors, as well as minimal ancillary cash, also detracted from relative performance. These results were partially offset by stock selection in industrials, health care and energy sectors.

#### What contributed to performance?
**NVIDIA Corp. \|** NVIDIA is a company at the heart of digital transformation as it produces graphics processing units (GPUs) with sustainable demand to support the proliferation of the AI industry. NVIDIA's most advanced GPU, the Blackwell B100, is already sold out until the end of 2025.

**Broadcom Inc. \|** Broadcom is strongly positioned in AI chips, particularly those optimized for inference workloads. As inference adoption accelerates across AI applications, Broadcom's leadership in this segment underscores its critical role in enabling next-generation AI infrastructure.

#### What detracted from performance?
**Monday.com Ltd. \|** Monday.com faced mixed dynamics during the period. While enterprise demand remains strong and its move upmarket is progressing, new customer growth came under pressure following Google's algorithm changes. The company's AI-powered tools like Magic and Sidekick are helping optimize marketing spend, but projected 2025 growth of 26% fell short of prior estimates. The Fund's investment team sold the position during the period.

**Trade Desk, Inc. \|** Trade Desk is a leading independent demand-side platform in digital advertising, focused on the open internet and AI-driven solutions. While the company maintains a strong market position, challenges around the transition to its Kokai platform and salesforce reorganization, along with share loss to competitors, persisted. The Fund's investment team sold the position during the period.

**KKR & Co. Inc. \|** KKR & Co. is a global investment firm that has diversified sharply away from US private equity. While earnings growth has remained strong, alternatives have not been rewarded for strong results and progress on expanding 401(k) access to alternatives remains a long-term initiative. The Fund's investment team reduced the position during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9724011.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Summit Fund (Class R)** | 25.48% | 13.19% | 14.69% |
| **Russell 1000<sup>®</sup> Growth Index** | 30.52% | 19.24% | 18.28% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Class R shares incepted on September 30, 2025. Performance shown prior to that date is that of Class A shares at net asset value restated to reflect the higher 12b-1 fees applicable to Class R shares. Class R shares' returns of the Fund will be different from Class A shares' returns of the Fund as they have different expenses.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3900984569 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$22171068 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;58% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;13.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;6.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;5.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;5.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;4.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;3.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;AppLovin Corp., Class A | &nbsp;&nbsp;&nbsp;2.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla, Inc. | &nbsp;&nbsp;&nbsp;2.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;Arista Networks, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9724016.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

SUM-AR-R **Invesco Summit Fund**

![TSR_logo](images_2625.jpg)

### Invesco Summit Fund

### Class S: SMMSX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Summit Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Summit Fund<br>(Class S) | $98 | 0.87% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US large-cap growth equities posted robust gains, buoyed by continued enthusiasm for artificial intelligence (AI) and other secular growth themes, as well as a supportive macroeconomic backdrop marked by easing interest rates and resilient consumer spending.

**•** For the fiscal year ended October 31, 2025, Class S shares of the Fund returned 25.93%. For the same time period, the Russell 1000<sup>®</sup> Growth Index (the "Benchmark") returned 30.52%. The Fund's underperformance relative to the Benchmark was primarily driven by sector positioning and stock selection in the financials, communication services and materials sectors. An underweight exposure in the information technology and consumer discretionary sectors, as well as minimal ancillary cash, also detracted from relative performance. These results were partially offset by stock selection in industrials, health care and energy sectors.

#### What contributed to performance?
**NVIDIA Corp. \|** NVIDIA is a company at the heart of digital transformation as it produces graphics processing units (GPUs) with sustainable demand to support the proliferation of the AI industry. NVIDIA's most advanced GPU, the Blackwell B100, is already sold out until the end of 2025.

**Broadcom Inc. \|** Broadcom is strongly positioned in AI chips, particularly those optimized for inference workloads. As inference adoption accelerates across AI applications, Broadcom's leadership in this segment underscores its critical role in enabling next-generation AI infrastructure.

#### What detracted from performance?
**Monday.com Ltd. \|** Monday.com faced mixed dynamics during the period. While enterprise demand remains strong and its move upmarket is progressing, new customer growth came under pressure following Google's algorithm changes. The company's AI-powered tools like Magic and Sidekick are helping optimize marketing spend, but projected 2025 growth of 26% fell short of prior estimates. The Fund's investment team sold the position during the period.

**Trade Desk, Inc. \|** Trade Desk is a leading independent demand-side platform in digital advertising, focused on the open internet and AI-driven solutions. While the company maintains a strong market position, challenges around the transition to its Kokai platform and salesforce reorganization, along with share loss to competitors, persisted. The Fund's investment team sold the position during the period.

**KKR & Co. Inc. \|** KKR & Co. is a global investment firm that has diversified sharply away from US private equity. While earnings growth has remained strong, alternatives have not been rewarded for strong results and progress on expanding 401(k) access to alternatives remains a long-term initiative. The Fund's investment team reduced the position during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711520.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Summit Fund (Class S)** | 25.93% | 13.59% | 15.10% |
| **Russell 1000<sup>®</sup> Growth Index** | 30.52% | 19.24% | 18.28% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3900984569 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$22171068 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;58% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;13.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;6.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;5.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;5.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;4.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;3.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;AppLovin Corp., Class A | &nbsp;&nbsp;&nbsp;2.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla, Inc. | &nbsp;&nbsp;&nbsp;2.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;Arista Networks, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711526.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

SUM-AR-S **Invesco Summit Fund**

![TSR_logo](images_2625.jpg)

### Invesco Summit Fund

### Class Y: ASMYX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Summit Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Summit Fund<br>(Class Y) | $81 | 0.72% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US large-cap growth equities posted robust gains, buoyed by continued enthusiasm for artificial intelligence (AI) and other secular growth themes, as well as a supportive macroeconomic backdrop marked by easing interest rates and resilient consumer spending.

**•** For the fiscal year ended October 31, 2025, Class Y shares of the Fund returned 26.12%. For the same time period, the Russell 1000<sup>®</sup> Growth Index (the "Benchmark") returned 30.52%. The Fund's underperformance relative to the Benchmark was primarily driven by sector positioning and stock selection in the financials, communication services and materials sectors. An underweight exposure in the information technology and consumer discretionary sectors, as well as minimal ancillary cash, also detracted from relative performance. These results were partially offset by stock selection in industrials, health care and energy sectors.

#### What contributed to performance?
**NVIDIA Corp. \|** NVIDIA is a company at the heart of digital transformation as it produces graphics processing units (GPUs) with sustainable demand to support the proliferation of the AI industry. NVIDIA's most advanced GPU, the Blackwell B100, is already sold out until the end of 2025.

**Broadcom Inc. \|** Broadcom is strongly positioned in AI chips, particularly those optimized for inference workloads. As inference adoption accelerates across AI applications, Broadcom's leadership in this segment underscores its critical role in enabling next-generation AI infrastructure.

#### What detracted from performance?
**Monday.com Ltd. \|** Monday.com faced mixed dynamics during the period. While enterprise demand remains strong and its move upmarket is progressing, new customer growth came under pressure following Google's algorithm changes. The company's AI-powered tools like Magic and Sidekick are helping optimize marketing spend, but projected 2025 growth of 26% fell short of prior estimates. The Fund's investment team sold the position during the period.

**Trade Desk, Inc. \|** Trade Desk is a leading independent demand-side platform in digital advertising, focused on the open internet and AI-driven solutions. While the company maintains a strong market position, challenges around the transition to its Kokai platform and salesforce reorganization, along with share loss to competitors, persisted. The Fund's investment team sold the position during the period.

**KKR & Co. Inc. \|** KKR & Co. is a global investment firm that has diversified sharply away from US private equity. While earnings growth has remained strong, alternatives have not been rewarded for strong results and progress on expanding 401(k) access to alternatives remains a long-term initiative. The Fund's investment team reduced the position during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711376.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Summit Fund (Class Y)** | 26.12% | 13.76% | 15.26% |
| **Russell 1000<sup>®</sup> Growth Index** | 30.52% | 19.24% | 18.28% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3900984569 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$22171068 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;58% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;13.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;6.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;5.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;5.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;4.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;3.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;AppLovin Corp., Class A | &nbsp;&nbsp;&nbsp;2.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla, Inc. | &nbsp;&nbsp;&nbsp;2.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;Arista Networks, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711382.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

SUM-AR-Y **Invesco Summit Fund**

![TSR_logo](images_2625.jpg)

### Invesco Summit Fund

### Class R5: SMITX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Summit Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Summit Fund<br>(Class R5) | $78 | 0.69% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US large-cap growth equities posted robust gains, buoyed by continued enthusiasm for artificial intelligence (AI) and other secular growth themes, as well as a supportive macroeconomic backdrop marked by easing interest rates and resilient consumer spending.

**•** For the fiscal year ended October 31, 2025, Class R5 shares of the Fund returned 26.21%. For the same time period, the Russell 1000<sup>®</sup> Growth Index (the "Benchmark") returned 30.52%. The Fund's underperformance relative to the Benchmark was primarily driven by sector positioning and stock selection in the financials, communication services and materials sectors. An underweight exposure in the information technology and consumer discretionary sectors, as well as minimal ancillary cash, also detracted from relative performance. These results were partially offset by stock selection in industrials, health care and energy sectors.

#### What contributed to performance?
**NVIDIA Corp. \|** NVIDIA is a company at the heart of digital transformation as it produces graphics processing units (GPUs) with sustainable demand to support the proliferation of the AI industry. NVIDIA's most advanced GPU, the Blackwell B100, is already sold out until the end of 2025.

**Broadcom Inc. \|** Broadcom is strongly positioned in AI chips, particularly those optimized for inference workloads. As inference adoption accelerates across AI applications, Broadcom's leadership in this segment underscores its critical role in enabling next-generation AI infrastructure.

#### What detracted from performance?
**Monday.com Ltd. \|** Monday.com faced mixed dynamics during the period. While enterprise demand remains strong and its move upmarket is progressing, new customer growth came under pressure following Google's algorithm changes. The company's AI-powered tools like Magic and Sidekick are helping optimize marketing spend, but projected 2025 growth of 26% fell short of prior estimates. The Fund's investment team sold the position during the period.

**Trade Desk, Inc. \|** Trade Desk is a leading independent demand-side platform in digital advertising, focused on the open internet and AI-driven solutions. While the company maintains a strong market position, challenges around the transition to its Kokai platform and salesforce reorganization, along with share loss to competitors, persisted. The Fund's investment team sold the position during the period.

**KKR & Co. Inc. \|** KKR & Co. is a global investment firm that has diversified sharply away from US private equity. While earnings growth has remained strong, alternatives have not been rewarded for strong results and progress on expanding 401(k) access to alternatives remains a long-term initiative. The Fund's investment team reduced the position during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711431.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Summit Fund (Class R5)** | 26.21% | 13.75% | 15.27% |
| **Russell 1000<sup>®</sup> Growth Index** | 30.52% | 19.24% | 18.28% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3900984569 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$22171068 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;58% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;13.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;6.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;5.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;5.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;4.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;3.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;AppLovin Corp., Class A | &nbsp;&nbsp;&nbsp;2.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla, Inc. | &nbsp;&nbsp;&nbsp;2.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;Arista Networks, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711425.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

SUM-AR-R5 **Invesco Summit Fund**

![TSR_logo](images_2625.jpg)

### Invesco Summit Fund

### Class R6: SMISX

#### ANNUAL SHAREHOLDER REPORT \| October 31, 2025
This annual shareholder report contains important information about Invesco Summit Fund (the "Fund") for the period November 1, 2024 to October 31, 2025. You can find additional information about the Fund at invesco.com/reports. You can also request this information by contacting us at (800) 959-4246.

### What Were The Fund Costs For The Last Year ?
*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Fund (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Invesco Summit Fund<br>(Class R6) | $78 | 0.69% |

---

### How Did The Fund Perform During The Period?
**•** During the fiscal year ended October 31, 2025, US large-cap growth equities posted robust gains, buoyed by continued enthusiasm for artificial intelligence (AI) and other secular growth themes, as well as a supportive macroeconomic backdrop marked by easing interest rates and resilient consumer spending.

**•** For the fiscal year ended October 31, 2025, Class R6 shares of the Fund returned 26.18%. For the same time period, the Russell 1000<sup>®</sup> Growth Index (the "Benchmark") returned 30.52%. The Fund's underperformance relative to the Benchmark was primarily driven by sector positioning and stock selection in the financials, communication services and materials sectors. An underweight exposure in the information technology and consumer discretionary sectors, as well as minimal ancillary cash, also detracted from relative performance. These results were partially offset by stock selection in industrials, health care and energy sectors.

#### What contributed to performance?
**NVIDIA Corp. \|** NVIDIA is a company at the heart of digital transformation as it produces graphics processing units (GPUs) with sustainable demand to support the proliferation of the AI industry. NVIDIA's most advanced GPU, the Blackwell B100, is already sold out until the end of 2025.

**Broadcom Inc. \|** Broadcom is strongly positioned in AI chips, particularly those optimized for inference workloads. As inference adoption accelerates across AI applications, Broadcom's leadership in this segment underscores its critical role in enabling next-generation AI infrastructure.

#### What detracted from performance?
**Monday.com Ltd. \|** Monday.com faced mixed dynamics during the period. While enterprise demand remains strong and its move upmarket is progressing, new customer growth came under pressure following Google's algorithm changes. The company's AI-powered tools like Magic and Sidekick are helping optimize marketing spend, but projected 2025 growth of 26% fell short of prior estimates. The Fund's investment team sold the position during the period.

**Trade Desk, Inc. \|** Trade Desk is a leading independent demand-side platform in digital advertising, focused on the open internet and AI-driven solutions. While the company maintains a strong market position, challenges around the transition to its Kokai platform and salesforce reorganization, along with share loss to competitors, persisted. The Fund's investment team sold the position during the period.

**KKR & Co. Inc. \|** KKR & Co. is a global investment firm that has diversified sharply away from US private equity. While earnings growth has remained strong, alternatives have not been rewarded for strong results and progress on expanding 401(k) access to alternatives remains a long-term initiative. The Fund's investment team reduced the position during the period.

### How Has The Fund Historically Performed?

#### Growth of $10,000 Investment
![Fund Performance - Growth of 10K](chartimages_9711448.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **1 Year** | **5 Years** | **10 Years** |
| **Invesco Summit Fund (Class R6)** | 26.18% | 13.80% | 15.26% |
| **Russell 1000<sup>®</sup> Growth Index** | 30.52% | 19.24% | 18.28% |
| **S&P 500<sup>®</sup> Index** | 21.45% | 17.64% | 14.64% |

---

Class R6 shares incepted on April 4, 2017. Performance shown prior to that date is that of Class A shares at net asset value and includes the 12b-1 fees applicable to Class A shares. Class R6 shares' returns of the Fund will be different from Class A shares' returns of the Fund as they have different expenses.

 ***The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher.*** Please visit invesco.com/performance for more recent performance information.

Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.

### What Are Key Statistics About The Fund?
(as of October 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$3900984569 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total advisory fees paid | &nbsp;&nbsp;&nbsp;&nbsp;$22171068 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover rate | &nbsp;&nbsp;&nbsp;&nbsp;58% |

---

### What Comprised The Fund's Holdings?
(as of October 31, 2025)

**Top ten holdings\***

**(% of net assets)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;13.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;7.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;6.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;5.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;5.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;4.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;3.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;AppLovin Corp., Class A | &nbsp;&nbsp;&nbsp;2.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla, Inc. | &nbsp;&nbsp;&nbsp;2.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;Arista Networks, Inc. | &nbsp;&nbsp;&nbsp;2.57% |
| \* Excluding money market fund holdings, if any. |  |

---

**Sector allocation** 

**(% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_9711454.jpg)

### Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.

### What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.

![TSR_QRcode](images_2624.jpg)

For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.

SUM-AR-R6 **Invesco Summit Fund**

------

(b) Not applicable.

------

Item 2. Code of Ethics.

The Registrant has adopted a Code of Ethics (the "Code") that applies to the Registrant's Principal Executive Officer ("PEO") and Principal Financial Officer ("PFO"). This Code is filed as an exhibit to this report on Form N-CSR under Item 19(a)(1). No substantive amendments to this Code were made during the reporting period. There were no waivers for the fiscal year ended October 31, 2025.

------

Item 3. Audit Committee Financial Expert.

The Board of Trustees has determined that the Registrant has two audit committee financial experts serving on its Audit Committee: Anthony J. LaCava, Jr. and James Liddy. Each of these audit committee financial experts is "independent" within the meaning of that term as used in Form N-CSR.

------

Item 4. Principal Accountant Fees and Services.

------

(a) to (d)

#### Fees Billed by PwC Related to the Registrant
PricewaterhouseCoopers LLP ("PwC"), the Registrant's independent registered public accounting firm, billed the Registrant aggregate fees for services rendered to the Registrant for the last two fiscal years as shown in the following table. The Audit Committee pre-approved all audit and non-audit services provided to the Registrant.

---

| | | |
|:---|:---|:---|
|  | Fees Billed by PwC for Services Rendered to the Registrant for Fiscal Year Ended 2025  | Fees Billed by PwC for Services Rendered to the Registrant for Fiscal Year Ended 2024  |
| Audit Fees  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 221892  | &nbsp;&nbsp;&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 207738  |
| Audit-Related Fees<sup>(</sup><sup>1)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10099  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$0  |
| Tax Fees<sup>(</sup><sup>2)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$100867  | &nbsp;&nbsp;&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 94177  |
| All Other Fees  | $0  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0  |
| Total Fees  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$332858  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$301915  |

---

(1) Audit-Related Fees for the fiscal year ended 2025 includes fees billed for reviewing regulatory filings. 

(2) Tax Fees for the fiscal years ended 2025 and 2024 includes fees billed for preparation of U.S. Tax Returns and Taxable Income calculations, including excise tax and year-to-date estimates for various book-to-tax differences. 

#### Fees Billed by PwC Related to Invesco and Affiliates
PwC billed Invesco Advisers, Inc. ("Invesco"), the Registrant's investment adviser, and any entity controlling, controlled by or under common control with Invesco that provides ongoing services to the Registrant ("Affiliates") aggregate fees for pre-approved non-audit services rendered to Invesco and Affiliates for the last two fiscal years as shown in the following table. The Audit Committee pre-approved all non-audit services provided to Invesco and Affiliates that were required to be pre-approved.

---

| | | |
|:---|:---|:---|
|  | Fees Billed for Non- <br> Audit Services <br> Rendered to <br> Invesco and <br> Affiliates for Fiscal <br> Year Ended 2025 That <br> Were Required <br> to be Pre-Approved <br> by the Registrant's Audit Committee  | Fees Billed for Non- <br> Audit Services <br> Rendered to <br> Invesco and <br> Affiliates for Fiscal <br> Year Ended 2024 That <br> Were Required <br> to be Pre-Approved <br> by the Registrant's Audit Committee  |
| Audit-Related Fees<sup>(1)</sup>  | $&nbsp;&nbsp;&nbsp;&nbsp; 1161000  | $&nbsp;&nbsp;&nbsp;&nbsp; 1134000  |
| Tax Fees  | $&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0  | $&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0  |
| All Other Fees  | <u>$&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; 0</u>  | <u>$&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; 0</u>  |
| Total Fees  | $&nbsp;&nbsp;&nbsp;&nbsp; 1161000  | $&nbsp;&nbsp;&nbsp;&nbsp; 1134000  |

---

------

(1) Audit-Related Fees for the fiscal years ended 2025 and 2024 include fees billed related to reviewing controls at a service organization.

#### (e)(1)

#### PRE-APPROVAL OF AUDIT AND NON-AUDIT SERVICES

#### POLICIES AND PROCEDURES
As adopted by the Audit Committees

of the Invesco Funds (the "Funds")

Last Amended March 29, 2017

I. **Statement of Principles** 

The Audit Committees (the "Audit Committee") of the Boards of Trustees of the Funds (the "Board") have adopted these policies and procedures (the "Procedures") with respect to the pre-approval of audit and non-audit services to be provided by the Funds' independent auditor (the "Auditor") to the Funds, and to the Funds' investment adviser(s) and any entity controlling, controlled by, or under common control with the investment adviser(s) that provides ongoing services to the Funds (collectively, "Service Affiliates").

Under Section 202 of the Sarbanes-Oxley Act of 2002, all audit and non-audit services provided to the Funds by the Auditor must be preapproved by the Audit Committee. Rule 2-01 of Regulation S-X requires that the Audit Committee also pre-approve a Service Affiliate's engagement of the Auditor for non-audit services if the engagement relates directly to the operations and financial reporting of the Funds (a "Service Affiliate's Covered Engagement").

These Procedures set forth the procedures and the conditions pursuant to which the Audit Committee may pre-approve audit and non-audit services for the Funds and a Service Affiliate's Covered Engagement pursuant to rules and regulations of the Securities and Exchange Commission ("SEC") and other organizations and regulatory bodies applicable to the Funds ("Applicable Rules").<sup>1</sup> They address both general pre-approvals without consideration of specific case-by-case services ("general pre-approvals") and pre-approvals on a case-by-case basis ("specific pre-approvals"). Any services requiring pre-approval that are not within the scope of general pre-approvals hereunder are subject to specific pre-approval. These Procedures also address the delegation by the Audit Committee of pre-approval authority to the Audit Committee Chair or Vice Chair.

II. **Pre-Approval of Fund Audit Services** 

The annual Fund audit services engagement, including terms and fees, is subject to specific pre-approval by the Audit Committee. Audit services include the annual financial statement audit and other procedures required to be performed by an independent auditor to be able to form an opinion on the Funds' financial statements. The Audit Committee will receive, review and consider sufficient information concerning a proposed Fund audit engagement to make a reasonable evaluation of the Auditor's qualifications and independence. The Audit Committee will oversee the Fund audit services engagement as necessary, including approving any changes in terms, audit scope, conditions and fees.

------

In addition to approving the Fund audit services engagement at least annually and specifically approving any changes, the Audit Committee may generally or specifically pre-approve engagements for other audit services, which are those services that only an independent auditor reasonably can provide. Other audit services may include services associated with SEC registration statements, periodic reports and other documents filed with the SEC.

III. **General and Specific Pre-Approval of Non-Audit Fund Services** 

The Audit Committee will consider, at least annually, the list of General Pre-Approved Non-Audit Services which list may be terminated or modified at any time by the Audit Committee. To inform the Audit Committee's review and approval of General Pre-Approved Non-Audit Services, the Funds' Treasurer (or his or her designee) and Auditor shall provide such information regarding independence or other matters as the Audit Committee may request.

Any services or fee ranges that are not within the scope of General Pre-Approved Non-Audit Services have not received general pre-approval and require specific pre-approval. Each request for specific pre-approval by the Audit Committee for services to be provided by the Auditor to the Funds must be submitted to the Audit Committee by the Funds' Treasurer (or his or her designee) and must include detailed information about the services to be provided, the fees or fee ranges to be charged, and other relevant information sufficient to allow the Audit Committee to consider whether to pre-approve such engagement, including evaluating whether the provision of such services will impair the independence of the Auditor and is otherwise consistent with Applicable Rules.

IV. **Non-Audit Service Types** 

The Audit Committee may provide either general or specific pre-approval of audit-related, tax or other services, each as described in more detail below.

a. <u>Audit-Related Services</u> 

"Audit-related services" are assurance and related services that are reasonably related to the performance of the audit or review of the Fund's financial statements or that are traditionally performed by an independent auditor. Audit-related services include, among others, accounting consultations related to accounting, financial reporting or disclosure matters not classified as "Audit services"; assistance with understanding and implementing new accounting and financial reporting guidance from rulemaking authorities; services related to mergers, acquisitions or dispositions; compliance with ratings agency requirements and interfund lending activities; and assistance with internal control reporting requirements.

b. <u>Tax Services</u> 

"Tax services" include, but are not limited to, the review and signing of the Funds' federal tax returns, the review of required distributions by the Funds and consultations regarding tax matters such as the tax treatment of new investments or the impact of new regulations. The Audit Committee will not approve proposed services of the Auditor which the Audit Committee believes are to be provided in connection with a service or transaction initially recommended by the Auditor, the sole business purpose of which may be tax avoidance and the tax treatment of which may not be supported in the Internal Revenue Code and related regulations. The Audit Committee will consult with the Funds' Treasurer (or his or her designee) and may consult with outside counsel or advisers as necessary to ensure the consistency of tax services rendered by the Auditor with the foregoing policy. The Auditor shall not represent any Fund or any Service Affiliate before a tax court, district court or federal court of claims.

------

Each request to provide tax services under either the general or specific pre-approval of the Audit Committee will include a description from the Auditor in writing of (i) the scope of the service, the fee structure for the engagement, and any side letter or other amendment to the engagement letter, or any other agreement (whether oral, written, or otherwise) between the Auditor and the Funds, relating to the service; and (ii) any compensation arrangement or other agreement, such as a referral agreement, a referral fee or fee-sharing arrangement, between the Auditor (or an affiliate of the Auditor) and any person (other than the Funds or Service Affiliates receiving the services) with respect to the promoting, marketing, or recommending of a transaction covered by the service. The Auditor will also discuss with the Audit Committee the potential effects of the services on the independence of the Auditor, and document the substance of its discussion with the Audit Committee.

c. <u>Other Services</u> 

The Audit Committee may pre-approve other non-audit services so long as the Audit Committee believes that the service will not impair the independence of the Auditor. <u>Appendix I</u> includes a list of services that the Auditor is prohibited from performing by the SEC rules. <u>Appendix I</u> also includes a list of services that would impair the Auditor's independence unless the Audit Committee reasonably concludes that the results of the services will not be subject to audit procedures during an audit of the Funds' financial statements.

V. **Pre-Approval of Service Affiliate's Covered Engagements** 

Rule 2-01 of Regulation S-X requires that the Audit Committee pre-approve a Service Affiliate's engagement of the Auditor for non-audit services if the engagement relates directly to the operations and financial reporting of the Funds, defined above as a "Service Affiliate's Covered Engagement".

The Audit Committee may provide either general or specific pre-approval of any Service Affiliate's Covered Engagement, including for audit-related, tax or other services, as described above, if the Audit Committee believes that the provision of the services to a Service Affiliate will not impair the independence of the Auditor with respect to the Funds. Any Service Affiliate's Covered Engagements that are not within the scope of General Pre-Approved Non-Audit Services have not received general pre-approval and require specific pre-approval.

Each request for specific pre-approval by the Audit Committee of a Service Affiliate's Covered Engagement must be submitted to the Audit Committee by the Funds' Treasurer (or his or her designee) and must include detailed information about the services to be provided, the fees or fee ranges to be charged, a description of the current status of the pre-approval process involving other audit committees in the Invesco investment company complex (as defined in Rule 2-201 of Regulation S-X) with respect to the proposed engagement, and other relevant information sufficient to allow the Audit Committee to consider whether the provision of such services will impair the independence of the Auditor from the Funds. Additionally, the Funds' Treasurer (or his or her designee) and the Auditor will provide the Audit Committee with a statement that the proposed engagement requires pre-approval by the Audit Committee, the proposed engagement, in their view, will not impair the independence of the Auditor and is consistent with Applicable Rules, and the description of the proposed engagement provided to the Audit Committee is consistent with that presented to or approved by the Invesco audit committee.

------

Information about all Service Affiliate engagements of the Auditor for non-audit services, whether or not subject to pre-approval by the Audit Committee, shall be provided to the Audit Committee at least quarterly, to allow the Audit Committee to consider whether the provision of such services is compatible with maintaining the Auditor's independence from the Funds. The Funds' Treasurer and Auditor shall provide the Audit Committee with sufficiently detailed information about the scope of services provided and the fees for such services, to ensure that the Audit Committee can adequately consider whether the provision of such services is compatible with maintaining the Auditor's independence from the Fund.

VI. **Pre-Approved Fee Levels or Established Amounts** 

Pre-approved fee levels or ranges for audit and non-audit services to be provided by the Auditor to the Funds, and for a Service Affiliate's Covered Engagement, under general pre-approval or specific pre-approval will be set periodically by the Audit Committee. Any proposed fees exceeding 110% of the maximum pre-approved fee levels or ranges for such services or engagements will be promptly presented to the Audit Committee and will require specific pre-approval by the Audit Committee before payment of any additional fees is made.

VII. **Delegation** 

The Audit Committee hereby delegates, subject to the dollar limitations set forth below, specific authority to its Chair, or in his or her absence, Vice Chair, to pre-approve audit and non-audit services proposed to be provided by the Auditor to the Funds and/or a Service Affiliate's Covered Engagement, between Audit Committee meetings. Such delegation does not preclude the Chair or Vice Chair from declining, on a case-by-case basis, to exercise his or her delegated authority and instead convening the Audit Committee to consider and pre-approve any proposed services or engagements.

Notwithstanding the foregoing, the Audit Committee must pre-approve: (a) any non-audit services to be provided to the Funds for which the fees are estimated to exceed $500,000; (b) any Service Affiliate's Covered Engagement for which the fees are estimated to exceed $500,000; or (c) any cost increase to any previously approved service or engagement that exceeds the greater of $250,000 or 50% of the previously approved fees up to a maximum increase of $500,000.

VIII. **Compliance with Procedures** 

Notwithstanding anything herein to the contrary, failure to pre-approve any services or engagements that are not required to be pre-approved pursuant to the de minimis exception provided for in Rule 2-01(c)(7)(i)(C) of Regulation S-X shall not constitute a violation of these Procedures. The Audit Committee has designated the Funds' Treasurer to ensure services and engagements are pre-approved in compliance with these Procedures. The Funds' Treasurer will immediately report to the Chair of the Audit Committee, or the Vice Chair in his or her absence, any breach of these Procedures that comes to the attention of the Funds' Treasurer or any services or engagements that are not required to be pre-approved pursuant to the de minimis exception provided for in Rule 2-01(c)(7)(i)(C) of Regulation S-X.

On at least an annual basis, the Auditor will provide the Audit Committee with a summary of all non-audit services provided to any entity in the investment company complex (as defined in section 2-01(f)(14) of Regulation S-X, including the Funds and Service Affiliates) that were not pre-approved, including the nature of services provided and the associated fees.

IX. **Amendments to Procedures** 

All material amendments to these Procedures must be approved in advance by the Audit Committee. Non-material amendments to these Procedures may be made by the Legal and Compliance Departments and will be reported to the Audit Committee at the next regularly scheduled meeting of the Audit Committee.

------

#### Appendix I

#### Non-Audit Services That May Impair the Auditor's Independence
The Auditor is not independent if, at any point during the audit and professional engagement, the Auditor provides the following non-audit services:

· Management functions; 

· Human resources; 

· Broker-dealer, investment adviser, or investment banking services; 

· Legal services; 

· Expert services unrelated to the audit; 

· Any service or product provided for a contingent fee or a commission; 

· Services related to marketing, planning, or opining in favor of the tax treatment of confidential transactions or aggressive tax position transactions, a significant purpose of which is tax avoidance; 

· Tax services for persons in financial reporting oversight roles at the Fund; and 

· Any other service that the Public Company Oversight Board determines by regulation is impermissible. 

An Auditor is not independent if, at any point during the audit and professional engagement, the Auditor provides the following non-audit services unless it is reasonable to conclude that the results of the services will not be subject to audit procedures during an audit of the Funds' financial statements:

· Bookkeeping or other services related to the accounting records or financial statements of the audit client; 

· Financial information systems design and implementation; 

· Appraisal or valuation services, fairness opinions, or contribution-in-kind reports; 

· Actuarial services; and 

· Internal audit outsourcing services. 

(e)(2) There were no amounts that were pre-approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.

(f) Not applicable.

(g) In addition to the amounts shown in the tables above, PwC billed Invesco and Invesco Affiliates aggregate fees of $6,737,000 for the fiscal year ended October 31, 2025 and $6,466,000 for the fiscal year ended October 31, 2024. In total, PwC billed the Registrant, Invesco and Invesco Affiliates aggregate non-audit fees of $7,998,867 for the fiscal year ended October 31, 2025 and $7,694,177 for the fiscal year ended October 31, 2024.

PwC provided audit services to the Investment Company complex of approximately $35 million.

------

(h) The Audit Committee also has considered whether the provision of non-audit services that were rendered to Invesco and Invesco Affiliates that were not required to be pre-approved pursuant to SEC regulations, if any, is compatible with maintaining PwC's independence.

(i) Not applicable.

(j) Not applicable.

---

| | |
|:---|:---|
| 1  | Applicable Rules include, for example, New York Stock Exchange ("NYSE") rules applicable to closed-end funds managed by Invesco and listed on NYSE.  |

---

------

Item 5. Audit Committee of Listed Registrants.

Not applicable.

------

Item 6. Investments.

(a) Investments in securities of unaffiliated issuers is filed under Item 7 of this Form N-CSR.

(b) Not applicable.

------

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

------

![](img72751ec81.jpg)

------

**Annual Financial Statements and Other Information**

**October 31, 2025**

**Invesco Charter Fund**

Nasdaq:

A: CHTRX ■ C: CHTCX ■ R: CHRRX ■ S: CHRSX ■ Y: CHTYX ■ R5: CHTVX ■ R6: CHFTX

------

---

| | |
|:---|:---|
| [2](#xx_df8632ae-090a-47a6-b946-b4084658452c_SOI-Continued-20_1) | Schedule of Investments |
| [5](#xx_df8632ae-090a-47a6-b946-b4084658452c_FS-Continued-20_1) | Financial Statements |
| [8](#xx_df8632ae-090a-47a6-b946-b4084658452c_FS-Continued-20_4) | Financial Highlights |
| [9](#xx_df8632ae-090a-47a6-b946-b4084658452c_NTF-Continued-20_1) | Notes to Financial Statements |
| [15](#xx_df8632ae-090a-47a6-b946-b4084658452c_ARS-Continued-20_1) | Report of Independent Registered Public Accounting Firm |
| [16](#xx_df8632ae-090a-47a6-b946-b4084658452c_AOC-Continued-20_1) | Approval of Investment Advisory and Sub-Advisory Contracts |
| [18](#xx_df8632ae-090a-47a6-b946-b4084658452c_TI-Continued-20_1) | Tax Information |
| [19](#xx_df8632ae-090a-47a6-b946-b4084658452c_OIRSR-Continued-20_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments**<sup>(a)</sup> 

*October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests–99.35%** | **Common Stocks & Other Equity Interests–99.35%** | **Common Stocks & Other Equity Interests–99.35%** |
| **Aerospace & Defense–2.77%** | **Aerospace & Defense–2.77%** | **Aerospace & Defense–2.77%** |
| Airbus SE (France) | 130344 | &nbsp;&nbsp; $32139054 |
| Boeing Co. (The)<sup>(b)</sup>  | 124912 | &nbsp;&nbsp; 25109810 |
| Howmet Aerospace, Inc. | 126548 | &nbsp;&nbsp; 26062561 |
| Northrop Grumman Corp. | 36250 | &nbsp;&nbsp; 21150062 |
|  |  | &nbsp;&nbsp; 104461487 |
| **Application Software–2.77%** | **Application Software–2.77%** | **Application Software–2.77%** |
| Intuit, Inc. | 67619 | &nbsp;&nbsp; 45139063 |
| Salesforce, Inc. | 141832 | &nbsp;&nbsp; 36934471 |
| Synopsys, Inc.<sup>(b)</sup>  | 48906 | &nbsp;&nbsp; 22194521 |
|  |  | &nbsp;&nbsp; 104268055 |
| **Asset Management & Custody Banks–0.52%** | **Asset Management & Custody Banks–0.52%** | **Asset Management & Custody Banks–0.52%** |
| KKR & Co., Inc., Class A | 165230 | &nbsp;&nbsp; 19551666 |
| **Automobile Manufacturers–0.63%** | **Automobile Manufacturers–0.63%** | **Automobile Manufacturers–0.63%** |
| Tesla, Inc.<sup>(b)</sup>  | 52055 | &nbsp;&nbsp; 23766231 |
| **Biotechnology–1.12%** | **Biotechnology–1.12%** | **Biotechnology–1.12%** |
| AbbVie, Inc. | 192695 | &nbsp;&nbsp; 42015218 |
| **Broadline Retail–4.57%** | **Broadline Retail–4.57%** | **Broadline Retail–4.57%** |
| Amazon.com, Inc.<sup>(b)</sup>  | 705351 | &nbsp;&nbsp; 172260821 |
| **Building Products–0.79%** | **Building Products–0.79%** | **Building Products–0.79%** |
| Johnson Controls International PLC | 260964 | &nbsp;&nbsp; 29851672 |
| **Communications Equipment–1.03%** | **Communications Equipment–1.03%** | **Communications Equipment–1.03%** |
| Cisco Systems, Inc. | 533029 | &nbsp;&nbsp; 38969750 |
| **Construction Materials–1.16%** | **Construction Materials–1.16%** | **Construction Materials–1.16%** |
| CRH PLC | 365994 | &nbsp;&nbsp; 43589885 |
| **Consumer Finance–2.14%** | **Consumer Finance–2.14%** | **Consumer Finance–2.14%** |
| American Express Co. | 115692 | &nbsp;&nbsp; 41733575 |
| Capital One Financial Corp. | 177665 | &nbsp;&nbsp; 39084524 |
|  |  | &nbsp;&nbsp; 80818099 |
| **Consumer Staples Merchandise Retail–1.64%** | **Consumer Staples Merchandise Retail–1.64%** | **Consumer Staples Merchandise Retail–1.64%** |
| Walmart, Inc. | 610847 | &nbsp;&nbsp; 61805499 |
| **Data Center REITs–0.85%** | **Data Center REITs–0.85%** | **Data Center REITs–0.85%** |
| Digital Realty Trust, Inc. | 188375 | &nbsp;&nbsp; 32100984 |
| **Diversified Banks–4.36%** | **Diversified Banks–4.36%** | **Diversified Banks–4.36%** |
| JPMorgan Chase & Co. | 339988 | &nbsp;&nbsp; 105777067 |
| Wells Fargo & Co. | 673931 | &nbsp;&nbsp; 58611779 |
|  |  | &nbsp;&nbsp; 164388846 |
| **Electric Utilities–2.16%** | **Electric Utilities–2.16%** | **Electric Utilities–2.16%** |
| Constellation Energy Corp. | 96895 | &nbsp;&nbsp; 36529415 |
| PPL Corp. | 1224767 | &nbsp;&nbsp; 44728491 |
|  |  | &nbsp;&nbsp; 81257906 |
| **Electrical Components & Equipment–3.00%** | **Electrical Components & Equipment–3.00%** | **Electrical Components & Equipment–3.00%** |
| Eaton Corp. PLC | 83623 | &nbsp;&nbsp; 31907192 |
| Emerson Electric Co. | 281714 | &nbsp;&nbsp; 39318823 |
| Rockwell Automation, Inc. | 113385 | &nbsp;&nbsp; 41766498 |
|  |  | &nbsp;&nbsp; 112992513 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Financial Exchanges & Data–1.16%** | **Financial Exchanges & Data–1.16%** | **Financial Exchanges & Data–1.16%** |
| Cboe Global Markets, Inc. | 177897 | &nbsp;&nbsp; $43698619 |
| **Health Care Distributors–1.13%** | **Health Care Distributors–1.13%** | **Health Care Distributors–1.13%** |
| McKesson Corp. | 52262 | &nbsp;&nbsp; 42402251 |
| **Health Care Equipment–1.98%** | **Health Care Equipment–1.98%** | **Health Care Equipment–1.98%** |
| Boston Scientific Corp.<sup>(b)</sup>  | 374579 | &nbsp;&nbsp; 37727597 |
| Medtronic PLC | 407378 | &nbsp;&nbsp; 36949184 |
|  |  | &nbsp;&nbsp; 74676781 |
| **Health Care Facilities–0.94%** | **Health Care Facilities–0.94%** | **Health Care Facilities–0.94%** |
| Tenet Healthcare Corp.<sup>(b)</sup>  | 170727 | &nbsp;&nbsp; 35253418 |
| **Home Improvement Retail–1.22%** | **Home Improvement Retail–1.22%** | **Home Improvement Retail–1.22%** |
| Lowe's Cos., Inc. | 193505 | &nbsp;&nbsp; 46079346 |
| **Homebuilding–0.67%** | **Homebuilding–0.67%** | **Homebuilding–0.67%** |
| D.R. Horton, Inc. | 168282 | &nbsp;&nbsp; 25087481 |
| **Hotels, Resorts & Cruise Lines–1.67%** | **Hotels, Resorts & Cruise Lines–1.67%** | **Hotels, Resorts & Cruise Lines–1.67%** |
| Marriott International, Inc., Class A | 104745 | &nbsp;&nbsp; 27294452 |
| Royal Caribbean Cruises Ltd. | 123992 | &nbsp;&nbsp; 35564625 |
|  |  | &nbsp;&nbsp; 62859077 |
| **Household Products–1.39%** | **Household Products–1.39%** | **Household Products–1.39%** |
| Procter & Gamble Co. (The) | 349342 | &nbsp;&nbsp; 52530557 |
| **Industrial Machinery & Supplies & Components–0.60%** | **Industrial Machinery & Supplies & Components–0.60%** | **Industrial Machinery & Supplies & Components–0.60%** |
| Lincoln Electric Holdings, Inc. | 95953 | &nbsp;&nbsp; 22496181 |
| **Industrial REITs–1.21%** | **Industrial REITs–1.21%** | **Industrial REITs–1.21%** |
| Prologis, Inc. | 366997 | &nbsp;&nbsp; 45540658 |
| **Insurance Brokers–0.49%** | **Insurance Brokers–0.49%** | **Insurance Brokers–0.49%** |
| Arthur J. Gallagher & Co. | 74642 | &nbsp;&nbsp; 18622433 |
| **Integrated Oil & Gas–1.50%** | **Integrated Oil & Gas–1.50%** | **Integrated Oil & Gas–1.50%** |
| Chevron Corp. | 357845 | &nbsp;&nbsp; 56439313 |
| **Interactive Media & Services–9.54%** | **Interactive Media & Services–9.54%** | **Interactive Media & Services–9.54%** |
| Alphabet, Inc., Class A | 910595 | &nbsp;&nbsp; 256050208 |
| Meta Platforms, Inc., Class A | 159308 | &nbsp;&nbsp; 103287342 |
|  |  | &nbsp;&nbsp; 359337550 |
| **Investment Banking & Brokerage–1.81%** | **Investment Banking & Brokerage–1.81%** | **Investment Banking & Brokerage–1.81%** |
| Charles Schwab Corp. (The) | 493343 | &nbsp;&nbsp; 46630780 |
| Raymond James Financial, Inc. | 136516 | &nbsp;&nbsp; 21660994 |
|  |  | &nbsp;&nbsp; 68291774 |
| **Life Sciences Tools & Services–1.54%** | **Life Sciences Tools & Services–1.54%** | **Life Sciences Tools & Services–1.54%** |
| Danaher Corp. | 177034 | &nbsp;&nbsp; 38129583 |
| Lonza Group AG (Switzerland) | 28634 | &nbsp;&nbsp; 19772678 |
|  |  | &nbsp;&nbsp; 57902261 |
| **Managed Health Care–1.02%** | **Managed Health Care–1.02%** | **Managed Health Care–1.02%** |
| UnitedHealth Group, Inc. | 112073 | &nbsp;&nbsp; 38279654 |
| **Multi-Utilities–0.78%** | **Multi-Utilities–0.78%** | **Multi-Utilities–0.78%** |
| Ameren Corp. | 286795 | &nbsp;&nbsp; 29258826 |
| **Oil & Gas Exploration & Production–0.81%** | **Oil & Gas Exploration & Production–0.81%** | **Oil & Gas Exploration & Production–0.81%** |
| ConocoPhillips | 344753 | &nbsp;&nbsp; 30634752 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**Invesco Charter Fund**

------

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Oil & Gas Storage & Transportation–0.63%** | **Oil & Gas Storage & Transportation–0.63%** | **Oil & Gas Storage & Transportation–0.63%** |
| Cheniere Energy, Inc. | 111563 | &nbsp;&nbsp; $23651356 |
| **Passenger Ground Transportation–1.27%** | **Passenger Ground Transportation–1.27%** | **Passenger Ground Transportation–1.27%** |
| Uber Technologies, Inc.<sup>(b)</sup>  | 496023 | &nbsp;&nbsp; 47866219 |
| **Personal Care Products–1.35%** | **Personal Care Products–1.35%** | **Personal Care Products–1.35%** |
| BellRing Brands, Inc.<sup>(b)</sup>  | 607248 | &nbsp;&nbsp; 18296382 |
| Estee Lauder Cos., Inc. (The), Class A | 338772 | &nbsp;&nbsp; 32755865 |
|  |  | &nbsp;&nbsp; 51052247 |
| **Pharmaceuticals–1.69%** | **Pharmaceuticals–1.69%** | **Pharmaceuticals–1.69%** |
| Eli Lilly and Co. | 73926 | &nbsp;&nbsp; 63787788 |
| **Property & Casualty Insurance–1.63%** | **Property & Casualty Insurance–1.63%** | **Property & Casualty Insurance–1.63%** |
| American International Group, Inc. | 417428 | &nbsp;&nbsp; 32960115 |
| Hartford Insurance Group, Inc. (The) | 229807 | &nbsp;&nbsp; 28537433 |
|  |  | &nbsp;&nbsp; 61497548 |
| **Restaurants–0.93%** | **Restaurants–0.93%** | **Restaurants–0.93%** |
| McDonald's Corp. | 117725 | &nbsp;&nbsp; 35132672 |
| **Semiconductor Materials & Equipment–1.12%** | **Semiconductor Materials & Equipment–1.12%** | **Semiconductor Materials & Equipment–1.12%** |
| ASML Holding N.V., New York Shares <br> (Netherlands) | 39995 | &nbsp;&nbsp; 42363904 |
| **Semiconductors–13.26%** | **Semiconductors–13.26%** | **Semiconductors–13.26%** |
| ARM Holdings PLC, ADR<sup>(b)(c)</sup>  | 116582 | &nbsp;&nbsp; 19797955 |
| Broadcom, Inc. | 330930 | &nbsp;&nbsp; 122321656 |
| NVIDIA Corp. | 1574863 | &nbsp;&nbsp; 318894009 |
| Texas Instruments, Inc. | 238571 | &nbsp;&nbsp; 38519674 |
|  |  | &nbsp;&nbsp; 499533294 |
| **Specialty Chemicals–0.67%** | **Specialty Chemicals–0.67%** | **Specialty Chemicals–0.67%** |
| DuPont de Nemours, Inc. | 310286 | &nbsp;&nbsp; 25334852 |
| **Systems Software–9.76%** | **Systems Software–9.76%** | **Systems Software–9.76%** |
| Microsoft Corp. | 566930 | &nbsp;&nbsp; 293562023 |
| Oracle Corp. | 165315 | &nbsp;&nbsp; 43413372 |
| ServiceNow, Inc.<sup>(b)</sup>  | 33588 | &nbsp;&nbsp; 30876777 |
|  |  | &nbsp;&nbsp; 367852172 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Value** |
| **Technology Hardware, Storage & Peripherals–5.66%** | **Technology Hardware, Storage & Peripherals–5.66%** | **Technology Hardware, Storage & Peripherals–5.66%** | **Technology Hardware, Storage & Peripherals–5.66%** |
| Apple, Inc. | Apple, Inc. | 789081 | &nbsp;&nbsp; $213343830 |
| **Tobacco–1.03%** | **Tobacco–1.03%** | **Tobacco–1.03%** | **Tobacco–1.03%** |
| Philip Morris International, Inc. | Philip Morris International, Inc. | 269190 | &nbsp;&nbsp; 38852193 |
| **Transaction & Payment Processing Services–1.38%** | **Transaction & Payment Processing Services–1.38%** | **Transaction & Payment Processing Services–1.38%** | **Transaction & Payment Processing Services–1.38%** |
| Mastercard, Inc., Class A | Mastercard, Inc., Class A | 94456 | &nbsp;&nbsp; 52138767 |
| Total Common Stocks & Other Equity Interests <br> (Cost $2,150,146,037) | Total Common Stocks & Other Equity Interests <br> (Cost $2,150,146,037) | Total Common Stocks & Other Equity Interests <br> (Cost $2,150,146,037) | &nbsp;&nbsp; 3743896406 |
| **Money Market Funds–0.69%** | **Money Market Funds–0.69%** | **Money Market Funds–0.69%** | **Money Market Funds–0.69%** |
| Invesco Government & Agency Portfolio, <br> Institutional Class, 4.06%<sup>(d)(e)</sup>  | Invesco Government & Agency Portfolio, <br> Institutional Class, 4.06%<sup>(d)(e)</sup>  | 9018582 | &nbsp;&nbsp; 9018582 |
| Invesco Treasury Portfolio, Institutional <br> Class, 3.96%<sup>(d)(e)</sup>  | Invesco Treasury Portfolio, Institutional <br> Class, 3.96%<sup>(d)(e)</sup>  | 16769628 | &nbsp;&nbsp; 16769628 |
| Total Money Market Funds (Cost $25,788,210) | Total Money Market Funds (Cost $25,788,210) | Total Money Market Funds (Cost $25,788,210) | &nbsp;&nbsp; 25788210 |
| TOTAL INVESTMENTS IN SECURITIES <br> (excluding investments purchased <br> with cash collateral from securities <br> on loan)-100.04% <br> (Cost $2,175,934,247)<br>|  |  | &nbsp;&nbsp; 3769684616 |
| **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** |
| **Money Market Funds–0.31%** | **Money Market Funds–0.31%** | **Money Market Funds–0.31%** | **Money Market Funds–0.31%** |
| Invesco Private Government Fund, <br> 4.13%<sup>(d)(e)(f)</sup>  | Invesco Private Government Fund, <br> 4.13%<sup>(d)(e)(f)</sup>  | 3275729 | &nbsp;&nbsp; 3275729 |
| Invesco Private Prime Fund, 4.30%<sup>(d)(e)(f)</sup>  | Invesco Private Prime Fund, 4.30%<sup>(d)(e)(f)</sup>  | 8526058 | &nbsp;&nbsp; 8528616 |
| Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $11,804,359) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $11,804,359) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $11,804,359) | &nbsp;&nbsp; 11804345 |
| TOTAL INVESTMENTS IN SECURITIES–100.35% <br> (Cost $2,187,738,606) | TOTAL INVESTMENTS IN SECURITIES–100.35% <br> (Cost $2,187,738,606) | TOTAL INVESTMENTS IN SECURITIES–100.35% <br> (Cost $2,187,738,606) | &nbsp;&nbsp; 3781488961 |
| OTHER ASSETS LESS LIABILITIES—(0.35)% | OTHER ASSETS LESS LIABILITIES—(0.35)% | OTHER ASSETS LESS LIABILITIES—(0.35)% | &nbsp;&nbsp; (13251421)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $3768237540 |

---

Investment Abbreviations:

ADR – American Depositary Receipt <br> REIT – Real Estate Investment Trust

Notes to Schedule of Investments:

<sup>(a)</sup> 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. 

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> All or a portion of this security was out on loan at October 31, 2025.

<sup>(d)</sup> Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the fiscal year ended October 31, 2025. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**October 31, 2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**October 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market** <br> **Funds:**<br>|  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, <br> Institutional Class<br>| $8487906 | &nbsp;&nbsp; $162715760 | &nbsp;&nbsp; $(162185084) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $9018582 | &nbsp;&nbsp; $615106 |
| Invesco Treasury Portfolio, Institutional Class | 15784088 | &nbsp;&nbsp; 302186412 | &nbsp;&nbsp; (301200872) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 16769628 | &nbsp;&nbsp; 1133277 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**Invesco Charter Fund**

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **October 31, 2024**<br>| **Purchases**<br> **at Cost**<br>| **Proceeds**<br> **from Sales**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Realized**<br> **Gain**<br>| **Value**<br> **October 31, 2025**<br>| **Dividend Income** |
| **Investments Purchased with Cash** <br> **Collateral from Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | $5753944 | &nbsp;&nbsp; $305703575 | &nbsp;&nbsp; $(308181790) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $3275729 | &nbsp;&nbsp; $333,507\* |
| Invesco Private Prime Fund | 5756647 | &nbsp;&nbsp; 688603762 | &nbsp;&nbsp; (685839652) | (14) | &nbsp;&nbsp; 7873 | &nbsp;&nbsp; 8528616 | &nbsp;&nbsp; 900,121\* |
| Total | $35782585 | &nbsp;&nbsp; $1459209509 | &nbsp;&nbsp; $(1457407398) | &nbsp;&nbsp; $(14) | &nbsp;&nbsp; $7873 | &nbsp;&nbsp; $37592555 | &nbsp;&nbsp; $2982011 |

---

\* Represents the income earned on the investment of cash collateral, which is included in securities lending income on the Statement of Operations. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any. 

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of October 31, 2025.

<sup>(f)</sup> 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. See Note 1J. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**Invesco Charter Fund**

------

**Statement of Assets and Liabilities**

*October 31, 2025*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $2,150,146,037)\*<br>| &nbsp;&nbsp; $3743896406 |
| Investments in affiliated money market funds, at value <br> (Cost $37,592,569)<br>| &nbsp;&nbsp; 37592555 |
| Receivable for: |  |
| Fund shares sold | &nbsp;&nbsp; 104225 |
| Dividends | &nbsp;&nbsp; 1882626 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 1508847 |
| Other assets | &nbsp;&nbsp; 288189 |
| Total assets | &nbsp;&nbsp; 3785272848 |
| **Liabilities:** |  |
| Payable for: |  |
| Fund shares reacquired | &nbsp;&nbsp; 2050145 |
| Collateral upon return of securities loaned | &nbsp;&nbsp; 11804359 |
| Accrued fees to affiliates | &nbsp;&nbsp; 1487040 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 2117 |
| Accrued other operating expenses | &nbsp;&nbsp; 139878 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 1551769 |
| Total liabilities | &nbsp;&nbsp; 17035308 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $3768237540 |
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $1932652794 |
| Distributable earnings | &nbsp;&nbsp; 1835584746 |
|  | &nbsp;&nbsp; $3768237540 |
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $3565930279 |
| Class C | &nbsp;&nbsp; $16428243 |
| Class R | &nbsp;&nbsp; $20108205 |
| Class S | &nbsp;&nbsp; $19587957 |
| Class Y | &nbsp;&nbsp; $114206815 |
| Class R5 | &nbsp;&nbsp; $6444238 |
| Class R6 | &nbsp;&nbsp; $25531803 |

---

---

| | |
|:---|:---|
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 155355861 |
| Class C | &nbsp;&nbsp; 824156 |
| Class R | &nbsp;&nbsp; 889377 |
| Class S | &nbsp;&nbsp; 852875 |
| Class Y | &nbsp;&nbsp; 4937552 |
| Class R5 | &nbsp;&nbsp; 258156 |
| Class R6 | &nbsp;&nbsp; 1023407 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $22.95 |
| Maximum offering price per share <br>(Net asset value of $22.95 ÷ 94.50%)<br>| &nbsp;&nbsp; $24.29 |
| Class C: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $19.93 |
| Class R: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $22.61 |
| Class S: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $22.97 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $23.13 |
| Class R5: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $24.96 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $24.95 |

---

\* At October 31, 2025, security with a value of $11,874,664 was on loan to brokers. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**Invesco Charter Fund**

------

**Statement of Operations**

*For the year ended October 31, 2025* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Dividends (net of foreign withholding taxes of $341,403) | &nbsp;&nbsp; $41988620 |
| Dividends from affiliated money market funds (includes net securities lending income of $39,994) | &nbsp;&nbsp; 1788377 |
| Total investment income | &nbsp;&nbsp; 43776997 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 21821335 |
| Administrative services fees | &nbsp;&nbsp; 493978 |
| Custodian fees | &nbsp;&nbsp; 24463 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 8325882 |
| Class C | &nbsp;&nbsp; 168270 |
| Class R | &nbsp;&nbsp; 95432 |
| Class S | &nbsp;&nbsp; 28331 |
| Transfer agent fees — A, C, R, S and Y | &nbsp;&nbsp; 3852506 |
| Transfer agent fees — R5 | &nbsp;&nbsp; 6087 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 6170 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 47416 |
| Registration and filing fees | &nbsp;&nbsp; 121916 |
| Reports to shareholders | &nbsp;&nbsp; 187412 |
| Professional services fees | &nbsp;&nbsp; 94824 |
| Other | &nbsp;&nbsp; 53026 |
| Total expenses | &nbsp;&nbsp; 35327048 |
| Less: Fees waived and/or expense offset arrangement(s) | &nbsp;&nbsp; (154843)<br>|
| Net expenses | &nbsp;&nbsp; 35172205 |
| Net investment income | &nbsp;&nbsp; 8604792 |
| **Realized and unrealized gain (loss) from:** |  |
| Net realized gain from: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 255607220 |
| Affiliated investment securities | &nbsp;&nbsp; 7873 |
| Foreign currencies | &nbsp;&nbsp; 2430 |
|  | &nbsp;&nbsp; 255617523 |
| Change in net unrealized appreciation (depreciation) of: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 370720447 |
| Affiliated investment securities | &nbsp;&nbsp; (14)<br>|
| Foreign currencies | &nbsp;&nbsp; 12978 |
|  | &nbsp;&nbsp; 370733411 |
| Net realized and unrealized gain | &nbsp;&nbsp; 626350934 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $634955726 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**Invesco Charter Fund**

------

**Statement of Changes in Net Assets**

*For the years ended October 31, 2025 and 2024* 

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $8604792 | &nbsp;&nbsp; $18285442 |
| Net realized gain | &nbsp;&nbsp; 255617523 | &nbsp;&nbsp; 257399936 |
| Change in net unrealized appreciation | &nbsp;&nbsp; 370733411 | &nbsp;&nbsp; 726772713 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 634955726 | &nbsp;&nbsp; 1002458091 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (245945813)<br>| &nbsp;&nbsp; (173054353)<br>|
| Class C | &nbsp;&nbsp; (1416769)<br>| &nbsp;&nbsp; (1131587)<br>|
| Class R | &nbsp;&nbsp; (1364555)<br>| &nbsp;&nbsp; (965583)<br>|
| Class S | &nbsp;&nbsp; (1423736)<br>| &nbsp;&nbsp; (995958)<br>|
| Class Y | &nbsp;&nbsp; (7837840)<br>| &nbsp;&nbsp; (5382506)<br>|
| Class R5 | &nbsp;&nbsp; (427694)<br>| &nbsp;&nbsp; (358832)<br>|
| Class R6 | &nbsp;&nbsp; (1318167)<br>| &nbsp;&nbsp; (928591)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (259734574)<br>| &nbsp;&nbsp; (182817410)<br>|
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; (80513519)<br>| &nbsp;&nbsp; (138209460)<br>|
| Class C | &nbsp;&nbsp; (2812599)<br>| &nbsp;&nbsp; (2866882)<br>|
| Class R | &nbsp;&nbsp; (515448)<br>| &nbsp;&nbsp; (977888)<br>|
| Class S | &nbsp;&nbsp; (1239736)<br>| &nbsp;&nbsp; (488093)<br>|
| Class Y | &nbsp;&nbsp; 2152100 | &nbsp;&nbsp; (3247923)<br>|
| Class R5 | &nbsp;&nbsp; (188676)<br>| &nbsp;&nbsp; (1322154)<br>|
| Class R6 | &nbsp;&nbsp; 4497315 | &nbsp;&nbsp; (670299)<br>|
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; (78620563)<br>| &nbsp;&nbsp; (147782699)<br>|
| Net increase in net assets | &nbsp;&nbsp; 296600589 | &nbsp;&nbsp; 671857982 |
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 3471636951 | &nbsp;&nbsp; 2799778969 |
| End of year | &nbsp;&nbsp; $3768237540 | &nbsp;&nbsp; $3471636951 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**Invesco Charter Fund**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**(loss)** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 10/31/25 | $20.67 | $0.05 | $3.80 | $3.85 | $(0.11)<br>| $(1.46)<br>| $(1.57)<br>| $22.95 | 19.53<br> %<br>| &nbsp;&nbsp; $3565930 | 1.01<br> %<br>| 1.01<br> %<br>| 0.24<br> %<br>| 36<br> %<br>|
| Year ended 10/31/24 | 16.01 | 0.10 | 5.62 | 5.72 | (0.06)<br>| (1.00)<br>| (1.06)<br>| 20.67 | 37.24 | &nbsp;&nbsp; 3291517 | 1.02 | 1.02 | 0.55 | 37 |
| Year ended 10/31/23 | 15.25 | 0.06 | 1.32 | 1.38 | (0.12)<br>| (0.50)<br>| (0.62)<br>| 16.01 | 9.44 | &nbsp;&nbsp; 2653092 | 1.03 | 1.03 | 0.39 | 84 |
| Year ended 10/31/22 | 21.88 | 0.10 <br><sup>(d)</sup><br>| (3.58)<br>| (3.48)<br>| (0.08)<br>| (3.07)<br>| (3.15)<br>| 15.25 | (18.71)<br>| &nbsp;&nbsp; 2671536 | 1.02 | 1.02 | 0.58 <br><sup>(d)</sup><br>| 52 |
| Year ended 10/31/21 | 15.99 | 0.07 | 6.24 | 6.31 | (0.10)<br>| (0.32)<br>| (0.42)<br>| 21.88 | 40.10 | &nbsp;&nbsp; 3609724 | 1.03 | 1.03 | 0.38 | 47 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 10/31/25 | 18.17 | (0.09)<br>| 3.31 | 3.22 |  | (1.46)<br>| (1.46)<br>| 19.93 | 18.64 | &nbsp;&nbsp; 16428 | 1.76 | 1.76 | (0.51)<br>| 36 |
| Year ended 10/31/24 | 14.23 | (0.03)<br>| 4.97 | 4.94 |  | (1.00)<br>| (1.00)<br>| 18.17 | 36.25 | &nbsp;&nbsp; 17813 | 1.77 | 1.77 | (0.20)<br>| 37 |
| Year ended 10/31/23 | 13.60 | (0.05)<br>| 1.18 | 1.13 |  | (0.50)<br>| (0.50)<br>| 14.23 | 8.65 | &nbsp;&nbsp; 16336 | 1.78 | 1.78 | (0.36)<br>| 84 |
| Year ended 10/31/22 | 19.91 | (0.03 )<sup>(d)</sup><br>| (3.21)<br>| (3.24)<br>|  | (3.07)<br>| (3.07)<br>| 13.60 | (19.35)<br>| &nbsp;&nbsp; 18306 | 1.77 | 1.77 | (0.17 )<sup>(d)</sup><br>| 52 |
| Year ended 10/31/21 | 14.61 | (0.07)<br>| 5.69 | 5.62 |  | (0.32)<br>| (0.32)<br>| 19.91 | 39.00 | &nbsp;&nbsp; 27725 | 1.78 | 1.78 | (0.37)<br>| 47 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year ended 10/31/25 | 20.39 | (0.00)<br>| 3.74 | 3.74 | (0.06)<br>| (1.46)<br>| (1.52)<br>| 22.61 | 19.22 | &nbsp;&nbsp; 20108 | 1.26 | 1.26 | (0.01)<br>| 36 |
| Year ended 10/31/24 | 15.80 | 0.06 | 5.55 | 5.61 | (0.02)<br>| (1.00)<br>| (1.02)<br>| 20.39 | 36.95 | &nbsp;&nbsp; 18603 | 1.27 | 1.27 | 0.30 | 37 |
| Year ended 10/31/23 | 15.05 | 0.02 | 1.31 | 1.33 | (0.08)<br>| (0.50)<br>| (0.58)<br>| 15.80 | 9.17 | &nbsp;&nbsp; 15125 | 1.28 | 1.28 | 0.14 | 84 |
| Year ended 10/31/22 | 21.63 | 0.06 <br><sup>(d)</sup><br>| (3.54)<br>| (3.48)<br>| (0.03)<br>| (3.07)<br>| (3.10)<br>| 15.05 | (18.91)<br>| &nbsp;&nbsp; 15653 | 1.27 | 1.27 | 0.33 <br><sup>(d)</sup><br>| 52 |
| Year ended 10/31/21 | 15.82 | 0.02 | 6.16 | 6.18 | (0.05)<br>| (0.32)<br>| (0.37)<br>| 21.63 | 39.66 | &nbsp;&nbsp; 20442 | 1.28 | 1.28 | 0.13 | 47 |
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year ended 10/31/25 | 20.68 | 0.07 | 3.81 | 3.88 | (0.13)<br>| (1.46)<br>| (1.59)<br>| 22.97 | 19.69 | &nbsp;&nbsp; 19588 | 0.91 | 0.91 | 0.34 | 36 |
| Year ended 10/31/24 | 16.02 | 0.12 | 5.62 | 5.74 | (0.08)<br>| (1.00)<br>| (1.08)<br>| 20.68 | 37.35 | &nbsp;&nbsp; 18857 | 0.92 | 0.92 | 0.65 | 37 |
| Year ended 10/31/23 | 15.26 | 0.08 | 1.32 | 1.40 | (0.14)<br>| (0.50)<br>| (0.64)<br>| 16.02 | 9.57 | &nbsp;&nbsp; 14903 | 0.93 | 0.93 | 0.49 | 84 |
| Year ended 10/31/22 | 21.89 | 0.12 <br><sup>(d)</sup><br>| (3.58)<br>| (3.46)<br>| (0.10)<br>| (3.07)<br>| (3.17)<br>| 15.26 | (18.61)<br>| &nbsp;&nbsp; 14877 | 0.92 | 0.92 | 0.68 <br><sup>(d)</sup><br>| 52 |
| Year ended 10/31/21 | 16.00 | 0.09 | 6.23 | 6.32 | (0.11)<br>| (0.32)<br>| (0.43)<br>| 21.89 | 40.20 | &nbsp;&nbsp; 21013 | 0.93 | 0.93 | 0.48 | 47 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 10/31/25 | 20.82 | 0.10 | 3.83 | 3.93 | (0.16)<br>| (1.46)<br>| (1.62)<br>| 23.13 | 19.82 | &nbsp;&nbsp; 114207 | 0.76 | 0.76 | 0.49 | 36 |
| Year ended 10/31/24 | 16.11 | 0.15 | 5.66 | 5.81 | (0.10)<br>| (1.00)<br>| (1.10)<br>| 20.82 | 37.67 | &nbsp;&nbsp; 100643 | 0.77 | 0.77 | 0.80 | 37 |
| Year ended 10/31/23 | 15.35 | 0.10 | 1.32 | 1.42 | (0.16)<br>| (0.50)<br>| (0.66)<br>| 16.11 | 9.71 | &nbsp;&nbsp; 80126 | 0.78 | 0.78 | 0.64 | 84 |
| Year ended 10/31/22 | 22.01 | 0.14 <br><sup>(d)</sup><br>| (3.60)<br>| (3.46)<br>| (0.13)<br>| (3.07)<br>| (3.20)<br>| 15.35 | (18.53)<br>| &nbsp;&nbsp; 87804 | 0.77 | 0.77 | 0.83 <br><sup>(d)</sup><br>| 52 |
| Year ended 10/31/21 | 16.09 | 0.12 | 6.26 | 6.38 | (0.14)<br>| (0.32)<br>| (0.46)<br>| 22.01 | 40.36 | &nbsp;&nbsp; 116054 | 0.78 | 0.78 | 0.63 | 47 |
| **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** |
| Year ended 10/31/25 | 22.35 | 0.11 | 4.12 | 4.23 | (0.16)<br>| (1.46)<br>| (1.62)<br>| 24.96 | 19.82 | &nbsp;&nbsp; 6444 | 0.75 | 0.75 | 0.50 | 36 |
| Year ended 10/31/24 | 17.23 | 0.16 | 6.07 | 6.23 | (0.11)<br>| (1.00)<br>| (1.11)<br>| 22.35 | 37.62 | &nbsp;&nbsp; 5965 | 0.76 | 0.76 | 0.81 | 37 |
| Year ended 10/31/23 | 16.36 | 0.12 | 1.42 | 1.54 | (0.17)<br>| (0.50)<br>| (0.67)<br>| 17.23 | 9.81 | &nbsp;&nbsp; 5610 | 0.76 | 0.76 | 0.66 | 84 |
| Year ended 10/31/22 | 23.25 | 0.16 <br><sup>(d)</sup><br>| (3.85)<br>| (3.69)<br>| (0.13)<br>| (3.07)<br>| (3.20)<br>| 16.36 | (18.50)<br>| &nbsp;&nbsp; 6555 | 0.75 | 0.75 | 0.85 <br><sup>(d)</sup><br>| 52 |
| Year ended 10/31/21 | 16.98 | 0.14 | 6.60 | 6.74 | (0.15)<br>| (0.32)<br>| (0.47)<br>| 23.25 | 40.37 | &nbsp;&nbsp; 9109 | 0.75 | 0.75 | 0.66 | 47 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 10/31/25 | 22.33 | 0.13 | 4.12 | 4.25 | (0.17)<br>| (1.46)<br>| (1.63)<br>| 24.95 | 19.96 | &nbsp;&nbsp; 25532 | 0.68 | 0.68 | 0.57 | 36 |
| Year ended 10/31/24 | 17.22 | 0.18 | 6.05 | 6.23 | (0.12)<br>| (1.00)<br>| (1.12)<br>| 22.33 | 37.67 | &nbsp;&nbsp; 18239 | 0.69 | 0.69 | 0.88 | 37 |
| Year ended 10/31/23 | 16.36 | 0.13 | 1.41 | 1.54 | (0.18)<br>| (0.50)<br>| (0.68)<br>| 17.22 | 9.83 | &nbsp;&nbsp; 14588 | 0.69 | 0.69 | 0.73 | 84 |
| Year ended 10/31/22 | 23.24 | 0.17 <br><sup>(d)</sup><br>| (3.83)<br>| (3.66)<br>| (0.15)<br>| (3.07)<br>| (3.22)<br>| 16.36 | (18.41)<br>| &nbsp;&nbsp; 14327 | 0.68 | 0.68 | 0.92 <br><sup>(d)</sup><br>| 52 |
| Year ended 10/31/21 | 16.97 | 0.15 | 6.60 | 6.75 | (0.16)<br>| (0.32)<br>| (0.48)<br>| 23.24 | 40.49 | &nbsp;&nbsp; 20931 | 0.68 | 0.68 | 0.73 | 47 |

---

<sup>(a)</sup> Calculated using average shares outstanding.

<sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable. 

<sup>(c)</sup> Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.

<sup>(d)</sup> Net investment income (loss) per share and the ratio of net investment income (loss) to average net assets includes significant dividends received during the year ended October 31, 2022. Net investment income (loss) per share and the ratio of net investment income (loss) to average net assets excluding the significant dividends are $0.06 and 0.32%, $(0.07) and (0.43)%, $0.02 and 0.07%, $0.08 and 0.42%, $0.10 and 0.57%, $0.12 and 0.59% and $0.13 and 0.66% for Class A, Class C, Class R, Class S, Class Y, Class R5 and Class R6 shares, respectively. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**8**

**Invesco Charter Fund**

------

**Notes to Financial Statements**

*October 31, 2025*

**NOTE 1—Significant Accounting Policies**

Invesco Charter Fund (the "Fund") is a series portfolio of AIM Equity Funds (Invesco Equity Funds) (the "Trust"). The Trust is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's investment objective is long-term growth of capital.

The Fund currently consists of seven different classes of shares: Class A, Class C, Class R, Class S, Class Y, Class R5 and Class R6. Class Y shares are available only to certain investors. Class A shares are sold with a front-end sales charge unless certain waiver criteria are met. Under certain circumstances, load waived shares may be subject to contingent deferred sales charges ("CDSC"). Class C shares are sold with a CDSC. Class R, Class S, Class Y, Class R5 and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Class A shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

Class R5 shares are closed to new investors.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

**A.** **Security Valuations** — Securities, including restricted securities, are valued according to the following policy.

A security listed or traded on an exchange is generally valued at its trade price or official closing price that day as of the close of the exchange where the security is principally traded, or lacking any trades or official closing price on a particular day, the security may be valued at the closing bid or ask price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued using prices provided by an independent pricing service they may be considered fair valued. Futures contracts are valued at the daily settlement price set by an exchange on which they are principally traded. Where a final settlement price exists, exchange-traded options are valued at the final settlement price from the exchange where the option principally trades. Where a final settlement price does not exist, exchange-traded options are valued at the mean between the last bid and ask price generally from the exchange where the option principally trades.

Securities of investment companies that are not exchange-traded (e.g., open-end mutual funds) are valued using such company's end-of-business-day net asset value per share.

Deposits, other obligations of U.S. and non-U.S. banks and financial institutions are valued at their daily account value.

Fixed income securities (including convertible debt securities) generally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots, and their value may be adjusted accordingly. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

Foreign securities' (including foreign exchange contracts) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the New York Stock Exchange ("NYSE"). If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Invesco Advisers, Inc. (the "Adviser" or "Invesco") may use various pricing services to obtain market quotations as well as fair value prices. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become not representative of market value in the Adviser's judgment ("unreliable"). If, between the time trading ends on a particular security and the close of the customary trading session on the NYSE, a significant event occurs that makes the closing price of the security unreliable, the Adviser may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith in accordance with Board- approved policies and related Adviser procedures ("Valuation Procedures"). Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities' prices meeting the degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.

Unlisted securities will be valued using prices provided by independent pricing services or by another method that the Adviser, in its judgment, believes better reflects the security's fair value in accordance with the Valuation Procedures.

Non-traded rights and warrants shall be valued at intrinsic value if the terms of the rights and warrants are available, specifically the subscription or exercise price and the ratio. Intrinsic value is calculated as the daily market closing price of the security to be received less the subscription price, which is then adjusted by the exercise ratio. In the case of warrants, an option pricing model supplied by an independent pricing service may be used based on market data such as volatility, stock price and interest rate from the independent pricing service and strike price and exercise period from verified terms.

Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The mean between the last bid and ask prices may be used to value debt obligations, including corporate loans.

Securities for which market quotations are not readily available are fair valued by the Adviser in accordance with the Valuation Procedures. If a fair value price provided by a pricing service is unreliable, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer's assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises, economic sanctions and tariffs, significant governmental actions or adverse investor sentiment generally and market liquidity. 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.

**9**

**Invesco Charter Fund**

------

The price the Fund could receive upon the sale of any investment may differ from the Adviser's valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Fund securities that are fair valued may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used. Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, the Fund could realize a greater or lesser than expected gain or loss upon the sale of the investment.

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date.

The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class.

**C.** **Country Determination** — For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

**D.** **Distributions** – Distributions from net investment income and net realized capital gain, if any, are generally declared and paid annually and recorded on the ex-dividend date. The Fund may elect to treat a portion of the proceeds from redemptions as distributions for federal income tax purposes.

**E.** **Federal Income Taxes –** The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

**F.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R5 and Class R6 are allocated based on relative net assets of Class R5 and Class R6. Sub-accounting fees attributable to Class R5 are charged to the operations of the class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative net assets.

**G.** **Accounting Estimates** – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** – Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole, thereby enabling better understanding of how an entity's segments impact overall performance. The Fund represents a single operating segment. Subject to the oversight and, when applicable, approval of the Board of Trustees, the Adviser acts as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements. Adoption of the new standard impacted the Fund's financial statement notes disclosures only and did not affect the Fund's financial position or the results of its operations.

**J.** **Securities Lending** – The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the 1940 Act and money market funds (collectively, "affiliated money market funds") and is shown as such on the Schedule of Investments. The Fund bears the risk of loss with respect to the investment of collateral. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When

**10**

**Invesco Charter Fund**

------

loaning securities, the Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to the Fund if, and to the extent that, the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or the Fund. Upon termination, the borrower will return to the Fund the securities loaned and the Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to the Fund. Some of these losses may be indemnified by the lending agent. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in *Dividends from affiliated money market funds* on the Statement of Operations. The aggregate value of securities out on loan, if any, is shown as a footnote on the Statement of Assets and Liabilities.

The Adviser serves as an affiliated securities lending agent for the Fund. The Bank of New York Mellon also serves as a securities lending agent. To the extent the Fund utilizes the Adviser as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the year ended October 31, 2025, the Fund paid the Adviser $2,801 in fees for securities lending agent services. Fees paid to the Adviser for securities lending agent services, if any, are included in *Dividends from affiliated money market funds* on the Statement of Operations.

**K.** **Foreign Currency Translations** — Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. 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.

**L.** **Forward Foreign Currency Contracts** — The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate** |
| First $250 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.695% |
| Next $4.05 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.615% |
| Next $3.9 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.570% |
| Next $1.8 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.545% |
| Over $10 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.520% |

---

For the year ended October 31, 2025, the effective advisory fee rate incurred by the Fund was 0.62%.

Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Affiliated Sub-Adviser(s).

The Adviser has agreed, for an indefinite period, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class R, Class S, Class Y, Class R5 and Class R6 shares to 2.00%, 2.75%, 2.25%, 1.90%, 1.75%, 1.75% and 1.75%, respectively, of the Fund's average daily net assets (the "boundary limits"). In

**11**

**Invesco Charter Fund**

------

determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Invesco may amend and/or terminate these boundary limits at any time in its sole discretion and will inform the Board of Trustees of any such changes. The Adviser did not waive fees and/or reimburse expenses during the period under these boundary limits.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from the affiliated money market funds on investments by the Fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds.

For the year ended October 31, 2025, the Adviser waived advisory fees of $48,170.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended October 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended October 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Class A, Class C, Class R, Class S, Class Y, Class R5 and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A, Class C, Class R and Class S shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.25% of the Fund's average daily net assets of Class A shares, 1.00% of the average daily net assets of Class C shares, 0.50% of the average daily net assets of Class R shares and 0.15% of the average daily net assets of Class S shares. The fees are accrued daily and paid monthly. Of the Plans payments, up to 0.25% of the average daily net assets of Class A, Class C and Class R shares and 0.15% of the average daily net assets of Class S shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended October 31, 2025, expenses incurred under the Plans are shown in the Statement of Operations as *Distribution fees*.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended October 31, 2025, IDI advised the Fund that IDI retained $107,405 in front-end sales commissions from the sale of Class A shares and $163 and $638 from Class A and Class C shares, respectively, for CDSC imposed upon redemptions by shareholders.

For the year ended October 31, 2025, the Fund incurred $4,949 in brokerage commissions with Invesco Capital Markets, Inc., an affiliate of the Adviser and IDI, for portfolio transactions executed on behalf of the Fund.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

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. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.

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 Adviser'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 October 31, 2025. 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** |
| <br>**Investments in Securities** |  |  |  |  |
| Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;&nbsp; $3691984674 | &nbsp;&nbsp;&nbsp;&nbsp; $51911732 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $3743896406 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 25788210 | &nbsp;&nbsp;&nbsp;&nbsp; 11804345 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 37592555 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $3717772884 | &nbsp;&nbsp;&nbsp;&nbsp; $63716077 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $3781488961 |

---

**NOTE 4—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended October 31, 2025, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $106,673.

**12**

**Invesco Charter Fund**

------

**NOTE 5—Trustees' and Officers' Fees and Benefits**

*Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and *Trustees' and Officers' Fees and Benefits* also include amounts accrued by the Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Finally, certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Fund may have certain former Trustees who also participate in a retirement plan and receive benefits under such plan. *Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Fund.

**NOTE 6—Cash Balances**

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

**NOTE 7—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** |
|  | **2025** | **2024** |
| Ordinary income\* | &nbsp;&nbsp; $68510301 | &nbsp;&nbsp;&nbsp;&nbsp; $22706960 |
| Long-term capital gain | &nbsp;&nbsp; 191224273 | &nbsp;&nbsp;&nbsp;&nbsp; 160110450 |
| Total distributions | &nbsp;&nbsp; $259734574 | &nbsp;&nbsp;&nbsp;&nbsp; $182817410 |

---

\* Includes short-term capital gain distributions, if any.

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2025** |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp; $16335141 |
| Undistributed long-term capital gain | &nbsp;&nbsp;&nbsp;&nbsp; 233248085 |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; 1586842406 |
| Net unrealized appreciation (depreciation) — foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; (10060)<br>|
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (830826)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 1932652794 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $3768237540 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to wash sales.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund does not have a capital loss carryforward as of October 31, 2025.

**NOTE 8—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended October 31, 2025 was $1,247,530,433 and $1,575,787,051, respectively. As of October 31, 2025, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $1630408501 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (43566095)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $1586842406 |

---

Cost of investments for tax purposes is $2,194,646,555.

**NOTE 9—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of equalization, on October 31, 2025, undistributed net investment income was increased by $2,430, undistributed net realized gain was decreased by $12,785,430 and shares of beneficial interest was increased by $12,783,000. This reclassification had no effect on the net assets of the Fund.

**13**

**Invesco Charter Fund**

------

**NOTE 10—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**October 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**October 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**October 31, 2024** | **Year ended** <br>**October 31, 2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 2780555 | &nbsp;&nbsp;&nbsp; $57396242 | &nbsp;&nbsp;&nbsp; 2169957 | &nbsp;&nbsp;&nbsp; $40141363 |
| Class C | &nbsp;&nbsp;&nbsp; 120511 | &nbsp;&nbsp;&nbsp; 2167859 | &nbsp;&nbsp;&nbsp; 144534 | &nbsp;&nbsp;&nbsp; 2391484 |
| Class R | &nbsp;&nbsp;&nbsp; 109716 | &nbsp;&nbsp;&nbsp; 2273880 | &nbsp;&nbsp;&nbsp; 116869 | &nbsp;&nbsp;&nbsp; 2125715 |
| Class S | &nbsp;&nbsp;&nbsp; 7618 | &nbsp;&nbsp;&nbsp; 154359 | &nbsp;&nbsp;&nbsp; 8993 | &nbsp;&nbsp;&nbsp; 165444 |
| Class Y | &nbsp;&nbsp;&nbsp; 1012873 | &nbsp;&nbsp;&nbsp; 20868930 | &nbsp;&nbsp;&nbsp; 900494 | &nbsp;&nbsp;&nbsp; 16885475 |
| Class R5 | &nbsp;&nbsp;&nbsp; 22846 | &nbsp;&nbsp;&nbsp; 516168 | &nbsp;&nbsp;&nbsp; 33669 | &nbsp;&nbsp;&nbsp; 710943 |
| Class R6 | &nbsp;&nbsp;&nbsp; 368204 | &nbsp;&nbsp;&nbsp; 8074263 | &nbsp;&nbsp;&nbsp; 104884 | &nbsp;&nbsp;&nbsp; 2075320 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 11159571 | &nbsp;&nbsp;&nbsp; 227766858 | &nbsp;&nbsp;&nbsp; 9562009 | &nbsp;&nbsp;&nbsp; 160928573 |
| Class C | &nbsp;&nbsp;&nbsp; 78674 | &nbsp;&nbsp;&nbsp; 1403548 | &nbsp;&nbsp;&nbsp; 75112 | &nbsp;&nbsp;&nbsp; 1118415 |
| Class R | &nbsp;&nbsp;&nbsp; 67444 | &nbsp;&nbsp;&nbsp; 1359006 | &nbsp;&nbsp;&nbsp; 58028 | &nbsp;&nbsp;&nbsp; 965582 |
| Class S | &nbsp;&nbsp;&nbsp; 69726 | &nbsp;&nbsp;&nbsp; 1423062 | &nbsp;&nbsp;&nbsp; 59152 | &nbsp;&nbsp;&nbsp; 995521 |
| Class Y | &nbsp;&nbsp;&nbsp; 279481 | &nbsp;&nbsp;&nbsp; 5737738 | &nbsp;&nbsp;&nbsp; 233809 | &nbsp;&nbsp;&nbsp; 3953716 |
| Class R5 | &nbsp;&nbsp;&nbsp; 18596 | &nbsp;&nbsp;&nbsp; 411902 | &nbsp;&nbsp;&nbsp; 19282 | &nbsp;&nbsp;&nbsp; 350159 |
| Class R6 | &nbsp;&nbsp;&nbsp; 53297 | &nbsp;&nbsp;&nbsp; 1178941 | &nbsp;&nbsp;&nbsp; 46548 | &nbsp;&nbsp;&nbsp; 843908 |
| **Automatic conversion of Class C shares to Class A shares:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 141818 | &nbsp;&nbsp;&nbsp; 2904639 | &nbsp;&nbsp;&nbsp; 178619 | &nbsp;&nbsp;&nbsp; 3365817 |
| Class C | &nbsp;&nbsp;&nbsp; (162670)<br>| &nbsp;&nbsp;&nbsp; (2904639)<br>| &nbsp;&nbsp;&nbsp; (202465)<br>| &nbsp;&nbsp;&nbsp; (3365817)<br>|
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (17946986)<br>| &nbsp;&nbsp;&nbsp; (368581258)<br>| &nbsp;&nbsp;&nbsp; (18412239)<br>| &nbsp;&nbsp;&nbsp; (342645213)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (192731)<br>| &nbsp;&nbsp;&nbsp; (3479367)<br>| &nbsp;&nbsp;&nbsp; (184674)<br>| &nbsp;&nbsp;&nbsp; (3010964)<br>|
| Class R | &nbsp;&nbsp;&nbsp; (200243)<br>| &nbsp;&nbsp;&nbsp; (4148334)<br>| &nbsp;&nbsp;&nbsp; (219630)<br>| &nbsp;&nbsp;&nbsp; (4069185)<br>|
| Class S | &nbsp;&nbsp;&nbsp; (136182)<br>| &nbsp;&nbsp;&nbsp; (2817157)<br>| &nbsp;&nbsp;&nbsp; (86897)<br>| &nbsp;&nbsp;&nbsp; (1649058)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (1189362)<br>| &nbsp;&nbsp;&nbsp; (24454568)<br>| &nbsp;&nbsp;&nbsp; (1272059)<br>| &nbsp;&nbsp;&nbsp; (24087114)<br>|
| Class R5 | &nbsp;&nbsp;&nbsp; (50217)<br>| &nbsp;&nbsp;&nbsp; (1116746)<br>| &nbsp;&nbsp;&nbsp; (111650)<br>| &nbsp;&nbsp;&nbsp; (2383256)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (214812)<br>| &nbsp;&nbsp;&nbsp; (4755889)<br>| &nbsp;&nbsp;&nbsp; (182080)<br>| &nbsp;&nbsp;&nbsp; (3589527)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; (3802273)<br>| &nbsp;&nbsp;&nbsp; $(78620563)<br>| &nbsp;&nbsp;&nbsp; (6959735)<br>| &nbsp;&nbsp;&nbsp; $(147782699)<br>|

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 30% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**14**

**Invesco Charter Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Equity Funds (Invesco Equity Funds) and Shareholders of Invesco Charter Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Charter Fund (one of the funds constituting AIM Equity Funds (Invesco Equity Funds), referred to hereafter as the "Fund") as of October 31, 2025, the related statement of operations for the year ended October 31, 2025, the statement of changes in net assets for each of the two years in the period ended October 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2025 and the financial highlights for each of the five years in the period ended October 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2025 by correspondence with the custodian, transfer agent and broker. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

December 18, 2025

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**15**

**Invesco Charter Fund**

------

**Approval of Investment Advisory and Sub-Advisory Contracts** 

At meetings held on June 16, 2025, the Board of Trustees (the Board or the Trustees) of AIM Equity Funds (Invesco Equity Funds) as a whole, and the independent Trustees, who comprise over 75% of the Board, voting separately, approved the continuance of the Invesco Charter Fund's (the Fund) Master Investment Advisory Agreement with Invesco Advisers, Inc. (Invesco Advisers and the investment advisory agreement) and the Master Intergroup Sub-Advisory Contract for Mutual Funds with Invesco Asset Management Deutschland GmbH\*, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2025. After evaluating the factors discussed below, among others, the Board approved the renewal of the Fund's investment advisory agreement and the sub-advisory contracts and determined that the compensation payable thereunder by the Fund to Invesco Advisers and by Invesco Advisers to the Affiliated Sub-Advisers is fair and reasonable.

**The Board's Evaluation Process**

The Board has established an Investments Committee, which in turn has established Sub-Committees. The Sub-Committees meet regularly throughout the year with portfolio managers and other members of management to review information about the investment performance and portfolio attributes for those funds advised by Invesco Advisers (Invesco Funds) assigned to them. The Board has established additional standing and ad hoc committees that meet throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the Board's annual review process for the Invesco Funds' investment advisory agreement and sub-advisory contracts (the annual review process). In considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts, the Board took into account evaluations and reports that it received from its committees and sub-committees, as well as the information provided to the Board and its committees and sub-committees throughout the year.

As part of the annual review process, the Board reviews and considers information provided in response to requests for information submitted to management by the independent Trustees with assistance from legal counsel to the independent Trustees (independent legal counsel) and the Senior Officer, an officer of the Invesco Funds who reports directly to the independent Trustees. The Board receives comparative investment performance and fee and expense data regarding the Invesco Funds prepared by Broadridge Financial Solutions, Inc. (Broadridge), an independent provider of investment company data, as well as information on the composition of the peer groups and its methodology for determining peer groups. The Board also receives an independent written evaluation from the Senior Officer. The Senior Officer's evaluation is prepared as part of his responsibility to manage the process by which the Invesco Funds' proposed management fees

are negotiated during the annual review process to ensure they are negotiated in a manner that is at arms' length and reasonable in accordance with certain negotiated regulatory requirements. In addition to meetings with Invesco Advisers and fund counsel throughout the year and as part of meetings convened on May 6, 2025 and June 16-18, 2025, the independent Trustees also discussed the continuance of the investment advisory agreement and sub-advisory contracts in separate sessions with the Senior Officer and with independent legal counsel.

The discussion below includes summary information drawn in part from the Senior Officer's independent written evaluation with respect to the Fund's investment advisory agreement and sub-advisory contracts, as well as a discussion of the material factors and related conclusions that formed the basis for the Board's approval of the Fund's investment advisory agreement and sub-advisory contracts. The Trustees' review and conclusions are based on the comprehensive consideration of all information presented to them during the course of the year and are not the result of any single determinative factor. Moreover, one Trustee may have weighed a particular piece of information or factor differently than another Trustee.

**Factors and Conclusions and Summary of Independent Written Fee Evaluation**

*A.* *Nature, Extent and Quality of Services Provided by Invesco Advisers and the Affiliated Sub-Advisers*

The Board reviewed the nature, extent and quality of the advisory services provided to the Fund by Invesco Advisers under the Fund's investment advisory agreement, and the credentials and experience of the officers and employees of Invesco Advisers who provide these services, including the Fund's portfolio manager(s). The Board's review included consideration of Invesco Advisers' investment process and oversight, credit analysis and research capabilities. The Board considered information regarding Invesco Advisers' programs for and resources devoted to risk management, including management of investment, enterprise, operational, liquidity, derivatives, valuation and compliance risks, and technology used to manage such risks. The Board received information regarding Invesco's methodology for compensating its investment professionals and the incentives and accountability it creates, as well as how it impacts Invesco's ability to attract and retain talent. The Board considered that Invesco Advisers has shown the willingness to commit resources to support investment in the business and to remain well-positioned to serve Fund shareholders including with regard to attracting and retaining qualified personnel on its investment teams and investing in technology. The Board received a description of, and reports related to, Invesco Advisers' global security program and business continuity plans and of its approach to data privacy and cybersecurity, including related testing. The Board also considered non-advisory services that Invesco Advisers and its affiliates provide to the Invesco Funds, such as various middle office and back office support functions, third party oversight, internal audit, valuation, portfolio trading and legal and compliance. The Board considered Invesco

Advisers' systems preparedness and ongoing investment to seek to manage, operate and oversee the Invesco Funds with minimal impact or disruption through challenging environments. The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in running an investment management business, as well as its commitment of financial and other resources to such business. The Board concluded that the nature, extent and quality of the services provided to the Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

The Board reviewed the services that may be provided to the Fund by the Affiliated Sub-Advisers under the sub-advisory contracts and the credentials and experience of the officers and employees of the Affiliated Sub-Advisers who provide these services. The Board noted the Affiliated Sub-Advisers' expertise with respect to certain asset classes and that the Affiliated Sub-Advisers have offices and personnel that are located in financial centers around the world. As a result, the Board noted that the Affiliated Sub-Advisers can provide research and investment analysis on the markets and economies of various countries and territories in which the Fund may invest, make recommendations regarding securities and assist with portfolio trading. The Board concluded that the sub-advisory contracts may benefit the Fund and its shareholders by permitting Invesco Advisers to use the resources and talents of the Affiliated Sub-Advisers in managing the Fund. The Board concluded that the nature, extent and quality of the services that may be provided to the Fund by the Affiliated Sub-Advisers supported the renewal of the sub-advisory contracts.

*B.* *Fund Investment Performance*

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement. The Board did not view Fund investment performance as a relevant factor in considering whether to approve the sub-advisory contracts for the Fund, as no Affiliated Sub-Adviser currently manages assets of the Fund.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the Russell 1000® Index (Index). The Board noted that performance of Class A shares of the Fund was in the first quintile of its performance universe for the one year period and in the fourth quintile for the three and five year periods (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Class A shares of the Fund was reasonably comparable to the performance of the Index for the one year period and below the performance of the Index for the three and five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other

**16**

**Invesco Charter Fund**

------

performance metrics, which did not change its conclusions.

*C.* *Advisory and Sub-Advisory Fees and Fund Expenses*

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Class A shares of the Fund were the same as and reasonably comparable to, respectively, the median contractual management and actual management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board noted that the Fund's total expense ratio was in the fourth quintile of its expense group and discussed with management reasons for such relative total expenses.

The Board noted that Invesco Advisers has voluntarily agreed to waive fees and/or limit expenses of the Fund for an indefinite period until further notice to the Board in an amount necessary to limit total annual operating expenses to a specified percentage of average daily net assets for each class of the Fund.

The Board noted that Invesco Advisers and the Affiliated Sub-Advisers do not manage other similarly managed mutual funds or client accounts.

The Board also considered the services that may be provided by the Affiliated Sub-Advisers pursuant to the sub-advisory contracts, as well as the fees payable by Invesco Advisers to the Affiliated Sub-Advisers pursuant to the sub-advisory contracts.

*D.* *Economies of Scale and Breakpoints*

The Board considered the extent to which there may be economies of scale in the provision of advisory services to the Fund and the Invesco Funds, and the extent to which such economies of scale are shared with the Fund and the Invesco Funds. The Board acknowledged the limitations in calculating and measuring economies of scale at the individual fund level, noting that only indicative and estimated measures are available at the individual fund level and that such measures are subject to uncertainty. The Board considered that the Fund benefits from economies of scale through contractual breakpoints in the Fund's advisory fee schedule, which generally operate to reduce the Fund's expense ratio as it grows in size. The Board noted that the Fund also shares in economies of scale through Invesco Advisers' ability to negotiate lower fee arrangements with third party service providers. The Board noted that the Fund may also benefit from economies of scale through initial fee setting, fee waivers and expense reimbursements, as well as Invesco Advisers'

management of significant assets and investment in its business, including investments in business infrastructure, technology and cybersecurity.

*E.* *Profitability and Financial Resources*

The Board reviewed information from Invesco Advisers concerning the costs of the advisory and other services that Invesco Advisers and its affiliates provide to the Fund and the Invesco Funds and the profitability of Invesco Advisers and its affiliates in providing these services in the aggregate and on an individual fund-by-fund basis. The Board considered the methodology used for calculating profitability and the periodic review and enhancement of such methodology. The Board noted that Invesco Advisers continues to operate at a net profit from services Invesco Advisers and its affiliates provide to the Invesco Funds in the aggregate and to most Invesco Funds individually. The Board considered that profits to Invesco Advisers can vary significantly depending on the particular Invesco Fund, with some Invesco Funds showing indicative losses to Invesco Advisers and others showing indicative profits at healthy levels, and that Invesco Advisers' support for and commitment to an Invesco Fund are not, however, solely dependent on the profits attributed to such Fund. The Board did not deem the level of profits realized by Invesco Advisers and its affiliates from providing such services to be excessive, given the nature, extent and quality of the services provided. The Board noted that Invesco Advisers provided information demonstrating that Invesco Advisers is financially sound and has the resources necessary to perform its obligations under the investment advisory agreement, and provided representations indicating that the Affiliated Sub-Advisers are financially sound and have the resources necessary to perform their obligations under the sub-advisory contracts. The Board noted the cyclical and competitive nature of the global asset management industry.

*F.* *Collateral Benefits to Invesco Advisers and its Affiliates*

The Board considered various other benefits received by Invesco Advisers and its affiliates from the relationship with the Fund, including the fees received for providing administrative, transfer agency and distribution services to the Fund. The Board received comparative information regarding fees charged for these services, including information provided by Broadridge and other independent sources. The Board reviewed the performance of Invesco Advisers and its affiliates in providing these services and the organizational structure employed to provide these services. The Board noted that these services are provided to the Fund pursuant to written contracts that are reviewed and subject to approval on an annual basis by the Board based on its reasonable business judgement and in accordance with applicable regulatory guidance.

The Board considered the benefits realized by Invesco Advisers and the Affiliated Sub-Advisers as a result of portfolio brokerage transactions executed through "soft dollar" arrangements. The Board noted that soft dollar arrangements may result in the Fund bearing costs to purchase research that may be used by Invesco Advisers or the Affiliated Sub-Advisers with other clients and may reduce Invesco Advisers' or the Affiliated Sub-Advisers' expenses. The Board also considered that it receives from Invesco Advisers periodic reports that include a representation to the effect that these arrangements are consistent with

regulatory requirements. The Board did not deem the soft dollar arrangements to be inappropriate.

The Board considered that the Fund's uninvested cash and cash collateral from any securities lending arrangements may be invested in registered money market funds or, with regard to securities lending cash collateral, unregistered funds that comply with Rule 2a-7 under the Investment Company Act of 1940 (collectively referred to as "affiliated money market funds") advised by Invesco Advisers. The Board considered information regarding the returns of the affiliated money market funds relative to comparable overnight investments, as well as the fees paid by the affiliated money market funds to Invesco Advisers and its affiliates. In this regard, the Board noted that Invesco Advisers receives advisory fees from these affiliated money market funds attributable to the Fund's investments. The Board also noted that Invesco Advisers has contractually agreed to waive through varying periods an amount equal to 100% of the net advisory fee Invesco Advisers receives from the affiliated money market funds with respect to the Fund's investment in the affiliated money market funds of uninvested cash, but not cash collateral. The Board concluded that the advisory fees payable to Invesco Advisers from the Fund's investment of cash collateral from any securities lending arrangements in the affiliated money market funds are for services that are not duplicative of services provided by Invesco Advisers to the Fund.

The Board considered that Invesco Advisers may serve as the Fund's affiliated securities lending agent and evaluated the benefits realized by Invesco Advisers when serving in such role, including the compensation received. The Board considered Invesco Advisers' securities lending platform and corporate governance structure for securities lending, including Invesco Advisers' Securities Lending Governance Committee and its related responsibilities. The Board noted that to the extent the Fund utilizes Invesco Advisers as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services without obtaining exemptive relief. The Board considered information provided by Invesco Advisers related to the performance of Invesco Advisers as securities lending agent, including a summary of the securities lending services provided to the Fund by Invesco Advisers and the compensation paid to Invesco Advisers for such services, as well as any revenues generated for the Fund in connection with such securities lending activity and the allocation of such revenue between the Fund and Invesco Advisers.

The Board also received information about commissions that an affiliated broker may receive for executing certain trades for the Fund. Invesco Advisers and the Affiliated Sub-Advisers advised the Board of the benefits to the Fund of executing trades through the affiliated broker and that such trades were executed in compliance with rules under the federal securities laws and consistent with best execution obligations.

\* Effective as of August 29, 2025, Invesco Asset Management Deutschland GmbH merged into Invesco Management S.A.

**17**

**Invesco Charter Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended October 31, 2025:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Long-Term Capital Gain Distributions | &nbsp;&nbsp; $204007273 |
| Qualified Dividend Income\* | &nbsp;&nbsp; 64.40% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 62.01% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 0.00% |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 0.00% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

---

| | |
|:---|:---|
| **Non-Resident Alien Shareholders** |  |
| Short-Term Capital Gain Distributions | &nbsp;&nbsp; $50604255 |

---

**18**

**Invesco Charter Fund**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

The statement regarding basis for approval of investment advisory contracts can be found in the Approval of Investment Advisory and Sub-Advisory Contracts section of this report.

**19**

**Invesco Charter Fund**

------

![](img72751ec81.jpg)

SEC file number(s): 811-01424 and 002-25469

Invesco Distributors, Inc.

CHT-NCSR

------

![](imgde7508f61.jpg)

------

**Annual Financial Statements and Other Information**

**October 31, 2025**

**Invesco Diversified Dividend Fund**

Nasdaq:

A: LCEAX ■ C: LCEVX ■ R: DDFRX ■ Y: LCEYX ■ Investor: LCEIX ■ R5: DDFIX ■ R6: LCEFX

------

---

| | |
|:---|:---|
| [2](#xx_e0b9de50-e2bf-4388-870f-732c5ff7d7cc_SOI-Continued-3_1) | Schedule of Investments |
| [5](#xx_e0b9de50-e2bf-4388-870f-732c5ff7d7cc_FS-Continued-3_1) | Financial Statements |
| [8](#xx_e0b9de50-e2bf-4388-870f-732c5ff7d7cc_FS-Continued-3_4) | Financial Highlights |
| [9](#xx_e0b9de50-e2bf-4388-870f-732c5ff7d7cc_NTF-Continued-3_1) | Notes to Financial Statements |
| [15](#xx_e0b9de50-e2bf-4388-870f-732c5ff7d7cc_ARS-Continued-3_1) | Report of Independent Registered Public Accounting Firm |
| [16](#xx_e0b9de50-e2bf-4388-870f-732c5ff7d7cc_AOC-Continued-3_1) | Approval of Investment Advisory and Sub-Advisory Contracts |
| [19](#xx_e0b9de50-e2bf-4388-870f-732c5ff7d7cc_TI-Continued-3_1) | Tax Information |
| [20](#xx_e0b9de50-e2bf-4388-870f-732c5ff7d7cc_OIRSR-Continued-3_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments**<sup>(a)</sup> 

*October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests–98.68%** | **Common Stocks & Other Equity Interests–98.68%** | **Common Stocks & Other Equity Interests–98.68%** |
| **Aerospace & Defense–2.34%** | **Aerospace & Defense–2.34%** | **Aerospace & Defense–2.34%** |
| Airbus SE (France) | 302019 | &nbsp;&nbsp; $74469135 |
| General Electric Co. | 174272 | &nbsp;&nbsp; 53841334 |
| Northrop Grumman Corp. | 202268 | &nbsp;&nbsp; 118013265 |
|  |  | &nbsp;&nbsp; 246323734 |
| **Agricultural & Farm Machinery–1.11%** | **Agricultural & Farm Machinery–1.11%** | **Agricultural & Farm Machinery–1.11%** |
| Deere & Co. | 253441 | &nbsp;&nbsp; 116995969 |
| **Apparel Retail–1.62%** | **Apparel Retail–1.62%** | **Apparel Retail–1.62%** |
| Ross Stores, Inc. | 636541 | &nbsp;&nbsp; 101159095 |
| TJX Cos., Inc. (The) | 494613 | &nbsp;&nbsp; 69315066 |
|  |  | &nbsp;&nbsp; 170474161 |
| **Application Software–1.55%** | **Application Software–1.55%** | **Application Software–1.55%** |
| Salesforce, Inc. | 626286 | &nbsp;&nbsp; 163091137 |
| **Asset Management & Custody Banks–2.17%** | **Asset Management & Custody Banks–2.17%** | **Asset Management & Custody Banks–2.17%** |
| BlackRock, Inc. | 99011 | &nbsp;&nbsp; 107210101 |
| KKR & Co., Inc., Class A | 1021357 | &nbsp;&nbsp; 120857174 |
|  |  | &nbsp;&nbsp; 228067275 |
| **Biotechnology–1.75%** | **Biotechnology–1.75%** | **Biotechnology–1.75%** |
| AbbVie, Inc. | 431705 | &nbsp;&nbsp; 94128958 |
| Regeneron Pharmaceuticals, Inc. | 137739 | &nbsp;&nbsp; 89778280 |
|  |  | &nbsp;&nbsp; 183907238 |
| **Building Products–2.11%** | **Building Products–2.11%** | **Building Products–2.11%** |
| Carlisle Cos., Inc. | 190451 | &nbsp;&nbsp; 61906098 |
| Johnson Controls International PLC | 757883 | &nbsp;&nbsp; 86694236 |
| Lennox International, Inc. | 144578 | &nbsp;&nbsp; 73011890 |
|  |  | &nbsp;&nbsp; 221612224 |
| **Communications Equipment–2.32%** | **Communications Equipment–2.32%** | **Communications Equipment–2.32%** |
| Cisco Systems, Inc. | 3337219 | &nbsp;&nbsp; 243984081 |
| **Construction Materials–1.64%** | **Construction Materials–1.64%** | **Construction Materials–1.64%** |
| CRH PLC | 1446663 | &nbsp;&nbsp; 172297563 |
| **Consumer Staples Merchandise Retail–2.55%** | **Consumer Staples Merchandise Retail–2.55%** | **Consumer Staples Merchandise Retail–2.55%** |
| Walmart, Inc. | 2647580 | &nbsp;&nbsp; 267882144 |
| **Diversified Banks–10.53%** | **Diversified Banks–10.53%** | **Diversified Banks–10.53%** |
| Bank of America Corp. | 5053095 | &nbsp;&nbsp; 270087928 |
| Fifth Third Bancorp | 1951435 | &nbsp;&nbsp; 81218725 |
| JPMorgan Chase & Co. | 1183662 | &nbsp;&nbsp; 368260921 |
| PNC Financial Services Group, Inc. <br> (The) | 783309 | &nbsp;&nbsp; 142993058 |
| Wells Fargo & Co. | 2817140 | &nbsp;&nbsp; 245006666 |
|  |  | &nbsp;&nbsp; 1107567298 |
| **Electric Utilities–2.96%** | **Electric Utilities–2.96%** | **Electric Utilities–2.96%** |
| Entergy Corp. | 1458019 | &nbsp;&nbsp; 140101046 |
| PPL Corp. | 4684394 | &nbsp;&nbsp; 171074069 |
|  |  | &nbsp;&nbsp; 311175115 |
| **Electrical Components & Equipment–3.34%** | **Electrical Components & Equipment–3.34%** | **Electrical Components & Equipment–3.34%** |
| Eaton Corp. PLC | 413367 | &nbsp;&nbsp; 157724312 |
| Emerson Electric Co. | 760803 | &nbsp;&nbsp; 106185275 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Electrical Components & Equipment–(continued)** | **Electrical Components & Equipment–(continued)** | **Electrical Components & Equipment–(continued)** |
| Hubbell, Inc. | 185340 | &nbsp;&nbsp; $87109800 |
|  |  | &nbsp;&nbsp; 351019387 |
| **Electronic Manufacturing Services–1.05%** | **Electronic Manufacturing Services–1.05%** | **Electronic Manufacturing Services–1.05%** |
| TE Connectivity PLC (Switzerland) | 448790 | &nbsp;&nbsp; 110855618 |
| **Food Distributors–1.29%** | **Food Distributors–1.29%** | **Food Distributors–1.29%** |
| Sysco Corp. | 1827196 | &nbsp;&nbsp; 135724119 |
| **Health Care Distributors–1.06%** | **Health Care Distributors–1.06%** | **Health Care Distributors–1.06%** |
| Cencora, Inc. | 331667 | &nbsp;&nbsp; 112040429 |
| **Health Care Equipment–2.74%** | **Health Care Equipment–2.74%** | **Health Care Equipment–2.74%** |
| Abbott Laboratories | 1203090 | &nbsp;&nbsp; 148725986 |
| Medtronic PLC | 1538334 | &nbsp;&nbsp; 139526894 |
|  |  | &nbsp;&nbsp; 288252880 |
| **Health Care Services–1.49%** | **Health Care Services–1.49%** | **Health Care Services–1.49%** |
| CVS Health Corp. | 2008557 | &nbsp;&nbsp; 156968730 |
| **Home Improvement Retail–2.65%** | **Home Improvement Retail–2.65%** | **Home Improvement Retail–2.65%** |
| Lowe's Cos., Inc. | 1169076 | &nbsp;&nbsp; 278392068 |
| **Hotels, Resorts & Cruise Lines–1.56%** | **Hotels, Resorts & Cruise Lines–1.56%** | **Hotels, Resorts & Cruise Lines–1.56%** |
| Marriott International, Inc., Class A | 628811 | &nbsp;&nbsp; 163855570 |
| **Household Products–0.98%** | **Household Products–0.98%** | **Household Products–0.98%** |
| Colgate-Palmolive Co. | 1333211 | &nbsp;&nbsp; 102723908 |
| **Industrial Gases–0.87%** | **Industrial Gases–0.87%** | **Industrial Gases–0.87%** |
| Air Products and Chemicals, Inc. | 377856 | &nbsp;&nbsp; 91664087 |
| **Industrial Machinery & Supplies & Components–1.22%** | **Industrial Machinery & Supplies & Components–1.22%** | **Industrial Machinery & Supplies & Components–1.22%** |
| Parker-Hannifin Corp. | 166363 | &nbsp;&nbsp; 128570317 |
| **Industrial REITs–1.35%** | **Industrial REITs–1.35%** | **Industrial REITs–1.35%** |
| Prologis, Inc. | 1143682 | &nbsp;&nbsp; 141919499 |
| **Insurance Brokers–1.15%** | **Insurance Brokers–1.15%** | **Insurance Brokers–1.15%** |
| Marsh & McLennan Cos., Inc. | 677237 | &nbsp;&nbsp; 120649772 |
| **Integrated Oil & Gas–2.42%** | **Integrated Oil & Gas–2.42%** | **Integrated Oil & Gas–2.42%** |
| Chevron Corp. | 1616775 | &nbsp;&nbsp; 254997753 |
| **Integrated Telecommunication Services–1.32%** | **Integrated Telecommunication Services–1.32%** | **Integrated Telecommunication Services–1.32%** |
| AT&T, Inc. | 5604973 | &nbsp;&nbsp; 138723082 |
| **Interactive Media & Services–2.70%** | **Interactive Media & Services–2.70%** | **Interactive Media & Services–2.70%** |
| Alphabet, Inc., Class A | 1009440 | &nbsp;&nbsp; 283844434 |
| **Investment Banking & Brokerage–2.85%** | **Investment Banking & Brokerage–2.85%** | **Investment Banking & Brokerage–2.85%** |
| Charles Schwab Corp. (The) | 1805192 | &nbsp;&nbsp; 170626748 |
| Morgan Stanley | 789896 | &nbsp;&nbsp; 129542944 |
|  |  | &nbsp;&nbsp; 300169692 |
| **Life Sciences Tools & Services–2.15%** | **Life Sciences Tools & Services–2.15%** | **Life Sciences Tools & Services–2.15%** |
| Danaher Corp. | 810357 | &nbsp;&nbsp; 174534691 |
| Lonza Group AG (Switzerland) | 74373 | &nbsp;&nbsp; 51356897 |
|  |  | &nbsp;&nbsp; 225891588 |
| **Movies & Entertainment–1.31%** | **Movies & Entertainment–1.31%** | **Movies & Entertainment–1.31%** |
| Walt Disney Co. (The) | 1225282 | &nbsp;&nbsp; 137991259 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**Invesco Diversified Dividend Fund**

------

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Multi-Utilities–2.58%** | **Multi-Utilities–2.58%** | **Multi-Utilities–2.58%** |
| CMS Energy Corp. | 1231519 | &nbsp;&nbsp; $90578223 |
| Public Service Enterprise Group, Inc. | 1187024 | &nbsp;&nbsp; 95626653 |
| Sempra | 921488 | &nbsp;&nbsp; 84721607 |
|  |  | &nbsp;&nbsp; 270926483 |
| **Oil & Gas Exploration & Production–1.18%** | **Oil & Gas Exploration & Production–1.18%** | **Oil & Gas Exploration & Production–1.18%** |
| ConocoPhillips | 1399315 | &nbsp;&nbsp; 124343131 |
| **Oil & Gas Refining & Marketing–0.94%** | **Oil & Gas Refining & Marketing–0.94%** | **Oil & Gas Refining & Marketing–0.94%** |
| Valero Energy Corp. | 583335 | &nbsp;&nbsp; 98910283 |
| **Oil & Gas Storage & Transportation–1.47%** | **Oil & Gas Storage & Transportation–1.47%** | **Oil & Gas Storage & Transportation–1.47%** |
| Williams Cos., Inc. (The) | 2666822 | &nbsp;&nbsp; 154328989 |
| **Packaged Foods & Meats–0.69%** | **Packaged Foods & Meats–0.69%** | **Packaged Foods & Meats–0.69%** |
| McCormick & Co., Inc. | 1133188 | &nbsp;&nbsp; 72705342 |
| **Paper & Plastic Packaging Products & Materials–0.57%** | **Paper & Plastic Packaging Products & Materials–0.57%** | **Paper & Plastic Packaging Products & Materials–0.57%** |
| Smurfit WestRock PLC | 1634251 | &nbsp;&nbsp; 60336547 |
| **Personal Care Products–0.53%** | **Personal Care Products–0.53%** | **Personal Care Products–0.53%** |
| L'Oreal S.A. (France) | 132424 | &nbsp;&nbsp; 55262032 |
| **Pharmaceuticals–4.52%** | **Pharmaceuticals–4.52%** | **Pharmaceuticals–4.52%** |
| AstraZeneca PLC (United Kingdom) | 723210 | &nbsp;&nbsp; 119292426 |
| Johnson & Johnson | 1456269 | &nbsp;&nbsp; 275045526 |
| Merck & Co., Inc. | 945929 | &nbsp;&nbsp; 81330975 |
|  |  | &nbsp;&nbsp; 475668927 |
| **Property & Casualty Insurance–2.05%** | **Property & Casualty Insurance–2.05%** | **Property & Casualty Insurance–2.05%** |
| American International Group, Inc. | 1856877 | &nbsp;&nbsp; 146619008 |
| Hartford Insurance Group, Inc. (The) | 553354 | &nbsp;&nbsp; 68715500 |
|  |  | &nbsp;&nbsp; 215334508 |
| **Rail Transportation–1.51%** | **Rail Transportation–1.51%** | **Rail Transportation–1.51%** |
| Union Pacific Corp. | 718785 | &nbsp;&nbsp; 158398650 |
| **Restaurants–2.79%** | **Restaurants–2.79%** | **Restaurants–2.79%** |
| McDonald's Corp. | 754045 | &nbsp;&nbsp; 225029649 |
| Yum! Brands, Inc. | 498150 | &nbsp;&nbsp; 68849312 |
|  |  | &nbsp;&nbsp; 293878961 |
| **Semiconductor Materials & Equipment–1.67%** | **Semiconductor Materials & Equipment–1.67%** | **Semiconductor Materials & Equipment–1.67%** |
| ASML Holding N.V., New York Shares <br> (Netherlands) | 96422 | &nbsp;&nbsp; 102133075 |
| Lam Research Corp. | 467844 | &nbsp;&nbsp; 73666716 |
|  |  | &nbsp;&nbsp; 175799791 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Semiconductors–2.31%** | **Semiconductors–2.31%** | **Semiconductors–2.31%** |
| Broadcom, Inc. | 186058 | &nbsp;&nbsp; $68772618 |
| NXP Semiconductors N.V. (Netherlands) | 352291 | &nbsp;&nbsp; 73671094 |
| Texas Instruments, Inc. | 620993 | &nbsp;&nbsp; 100265530 |
|  |  | &nbsp;&nbsp; 242709242 |
| **Soft Drinks & Non-alcoholic Beverages–1.47%** | **Soft Drinks & Non-alcoholic Beverages–1.47%** | **Soft Drinks & Non-alcoholic Beverages–1.47%** |
| Coca-Cola Co. (The) | 2247173 | &nbsp;&nbsp; 154830220 |
| **Specialty Chemicals–0.71%** | **Specialty Chemicals–0.71%** | **Specialty Chemicals–0.71%** |
| DuPont de Nemours, Inc. | 921040 | &nbsp;&nbsp; 75202916 |
| **Systems Software–2.98%** | **Systems Software–2.98%** | **Systems Software–2.98%** |
| Microsoft Corp. | 512446 | &nbsp;&nbsp; 265349663 |
| Oracle Corp. | 185075 | &nbsp;&nbsp; 48602546 |
|  |  | &nbsp;&nbsp; 313952209 |
| **Telecom Tower REITs–1.20%** | **Telecom Tower REITs–1.20%** | **Telecom Tower REITs–1.20%** |
| Crown Castle, Inc. | 1393462 | &nbsp;&nbsp; 125718142 |
| **Tobacco–1.79%** | **Tobacco–1.79%** | **Tobacco–1.79%** |
| Philip Morris International, Inc. | 1305465 | &nbsp;&nbsp; 188417763 |
| **Trading Companies & Distributors–0.48%** | **Trading Companies & Distributors–0.48%** | **Trading Companies & Distributors–0.48%** |
| Ashtead Group PLC (United Kingdom) | 750669 | &nbsp;&nbsp; 50140761 |
| **Transaction & Payment Processing Services–1.09%** | **Transaction & Payment Processing Services–1.09%** | **Transaction & Payment Processing Services–1.09%** |
| Visa, Inc., Class A | 337839 | &nbsp;&nbsp; 115115261 |
| Total Common Stocks & Other Equity Interests <br> (Cost $7,677,054,039) | Total Common Stocks & Other Equity Interests <br> (Cost $7,677,054,039) | &nbsp;&nbsp; 10379612289 |
| **Money Market Funds–1.18%** | **Money Market Funds–1.18%** | **Money Market Funds–1.18%** |
| Invesco Government & Agency Portfolio, <br> Institutional Class, 4.06%<sup>(b)(c)</sup>  | 43455022 | &nbsp;&nbsp; 43455022 |
| Invesco Treasury Portfolio, Institutional <br> Class, 3.96%<sup>(b)(c)</sup>  | 80697188 | &nbsp;&nbsp; 80697188 |
| Total Money Market Funds <br> (Cost $124,152,210) | Total Money Market Funds <br> (Cost $124,152,210) | &nbsp;&nbsp; 124152210 |
| TOTAL INVESTMENTS IN SECURITIES–99.86% <br> (Cost $7,801,206,249) | TOTAL INVESTMENTS IN SECURITIES–99.86% <br> (Cost $7,801,206,249) | &nbsp;&nbsp; 10503764499 |
| OTHER ASSETS LESS LIABILITIES—0.14% | OTHER ASSETS LESS LIABILITIES—0.14% | &nbsp;&nbsp; 14898811 |
| NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $10518663310 |

---

Investment Abbreviations:

REIT – Real Estate Investment Trust

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**Invesco Diversified Dividend Fund**

------

Notes to Schedule of Investments:

<sup>(a)</sup> 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. 

<sup>(b)</sup> Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the fiscal year ended October 31, 2025. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**October 31, 2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**October 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market** <br> **Funds:**<br>|  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, <br> Institutional Class<br>| $62291541 | &nbsp;&nbsp; $992119878 | &nbsp;&nbsp; $(1010956397) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $43455022 | &nbsp;&nbsp; $3301225 |
| Invesco Treasury Portfolio, Institutional Class | 115679294 | &nbsp;&nbsp; 1842508346 | &nbsp;&nbsp; (1877490452) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 80697188 | &nbsp;&nbsp; 6077921 |
| **Investments Purchased with Cash Collateral** <br> **from Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | 20061524 | &nbsp;&nbsp; 530962648 | &nbsp;&nbsp; (551024172) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 826,994\* |
| Invesco Private Prime Fund | 52480640 | &nbsp;&nbsp; 1081420444 | &nbsp;&nbsp; (1133904836) | &nbsp;&nbsp; - | &nbsp;&nbsp; 3752 | &nbsp;&nbsp; - | &nbsp;&nbsp; 2,236,524\* |
| Total | $250512999 | &nbsp;&nbsp; $4447011316 | &nbsp;&nbsp; $(4573375857) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $3752 | &nbsp;&nbsp; $124152210 | &nbsp;&nbsp; $12442664 |

---

\* Represents the income earned on the investment of cash collateral, which is included in securities lending income on the Statement of Operations. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any. 

<sup>(c)</sup> The rate shown is the 7-day SEC standardized yield as of October 31, 2025.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**Invesco Diversified Dividend Fund**

------

**Statement of Assets and Liabilities**

*October 31, 2025*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $7,677,054,039)<br>| &nbsp;&nbsp; $10379612289 |
| Investments in affiliated money market funds, at value <br> (Cost $124,152,210)<br>| &nbsp;&nbsp; 124152210 |
| Foreign currencies, at value (Cost $36) | &nbsp;&nbsp; 35 |
| Receivable for: |  |
| Fund shares sold | &nbsp;&nbsp; 2547894 |
| Dividends | &nbsp;&nbsp; 22974759 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 761248 |
| Other assets | &nbsp;&nbsp; 79384 |
| Total assets | &nbsp;&nbsp; 10530127819 |
| **Liabilities:** |  |
| Payable for: |  |
| Fund shares reacquired | &nbsp;&nbsp; 6545691 |
| Accrued fees to affiliates | &nbsp;&nbsp; 3666694 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 4945 |
| Accrued other operating expenses | &nbsp;&nbsp; 381104 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 866075 |
| Total liabilities | &nbsp;&nbsp; 11464509 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $10518663310 |
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $6741147452 |
| Distributable earnings | &nbsp;&nbsp; 3777515858 |
|  | &nbsp;&nbsp; $10518663310 |

---

---

| | |
|:---|:---|
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $3910527906 |
| Class C | &nbsp;&nbsp; $89124777 |
| Class R | &nbsp;&nbsp; $130768167 |
| Class Y | &nbsp;&nbsp; $918143091 |
| Investor Class | &nbsp;&nbsp; $1596756393 |
| Class R5 | &nbsp;&nbsp; $1659002358 |
| Class R6 | &nbsp;&nbsp; $2214340618 |
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 198802883 |
| Class C | &nbsp;&nbsp; 4621319 |
| Class R | &nbsp;&nbsp; 6610030 |
| Class Y | &nbsp;&nbsp; 46615929 |
| Investor Class | &nbsp;&nbsp; 81213553 |
| Class R5 | &nbsp;&nbsp; 84365392 |
| Class R6 | &nbsp;&nbsp; 112610333 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $19.67 |
| Maximum offering price per share <br>(Net asset value of $19.67 ÷ 94.50%)<br>| &nbsp;&nbsp; $20.81 |
| Class C: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $19.29 |
| Class R: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $19.78 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $19.70 |
| Investor Class: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $19.66 |
| Class R5: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $19.66 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $19.66 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**Invesco Diversified Dividend Fund**

------

**Statement of Operations**

*For the year ended October 31, 2025* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Dividends (net of foreign withholding taxes of $1,261,176) | &nbsp;&nbsp; $223561245 |
| Dividends from affiliates (includes net securities lending income of $89,454) | &nbsp;&nbsp; 9468600 |
| Total investment income | &nbsp;&nbsp; 233029845 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 44263159 |
| Administrative services fees | &nbsp;&nbsp; 1503616 |
| Custodian fees | &nbsp;&nbsp; 74271 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 9723287 |
| Class C | &nbsp;&nbsp; 1056160 |
| Class R | &nbsp;&nbsp; 656043 |
| Investor Class | &nbsp;&nbsp; 2704659 |
| Transfer agent fees — A, C, R, Y and Investor | &nbsp;&nbsp; 9075269 |
| Transfer agent fees — R5 | &nbsp;&nbsp; 1697511 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 656384 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 103528 |
| Registration and filing fees | &nbsp;&nbsp; 194862 |
| Reports to shareholders | &nbsp;&nbsp; 585990 |
| Professional services fees | &nbsp;&nbsp; 148594 |
| Other | &nbsp;&nbsp; 81079 |
| Total expenses | &nbsp;&nbsp; 72524412 |
| Less: Fees waived and/or expense offset arrangement(s) | &nbsp;&nbsp; (352569)<br>|
| Net expenses | &nbsp;&nbsp; 72171843 |
| Net investment income | &nbsp;&nbsp; 160858002 |
| **Realized and unrealized gain (loss) from:** |  |
| Net realized gain from: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 1224524376 |
| Affiliated investment securities | &nbsp;&nbsp; 3752 |
| Foreign currencies | &nbsp;&nbsp; 67244 |
|  | &nbsp;&nbsp; 1224595372 |
| Change in net unrealized appreciation (depreciation) of: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; (267350675)<br>|
| Foreign currencies | &nbsp;&nbsp; 563888 |
|  | &nbsp;&nbsp; (266786787)<br>|
| Net realized and unrealized gain | &nbsp;&nbsp; 957808585 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $1118666587 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**Invesco Diversified Dividend Fund**

------

**Statement of Changes in Net Assets**

*For the years ended October 31, 2025 and 2024* 

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $160858002 | &nbsp;&nbsp; $194104801 |
| Net realized gain | &nbsp;&nbsp; 1224595372 | &nbsp;&nbsp; 1143240344 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp; (266786787)<br>| &nbsp;&nbsp; 1389906051 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 1118666587 | &nbsp;&nbsp; 2727251196 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (419602832)<br>| &nbsp;&nbsp; (277773007)<br>|
| Class C | &nbsp;&nbsp; (12309716)<br>| &nbsp;&nbsp; (11214576)<br>|
| Class R | &nbsp;&nbsp; (13558475)<br>| &nbsp;&nbsp; (8983617)<br>|
| Class Y | &nbsp;&nbsp; (121381696)<br>| &nbsp;&nbsp; (93107606)<br>|
| Investor Class | &nbsp;&nbsp; (170728965)<br>| &nbsp;&nbsp; (112951380)<br>|
| Class R5 | &nbsp;&nbsp; (192380724)<br>| &nbsp;&nbsp; (139988939)<br>|
| Class R6 | &nbsp;&nbsp; (246680892)<br>| &nbsp;&nbsp; (183071732)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (1176643300)<br>| &nbsp;&nbsp; (827090857)<br>|
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; (45722756)<br>| &nbsp;&nbsp; (161180838)<br>|
| Class C | &nbsp;&nbsp; (36404369)<br>| &nbsp;&nbsp; (60259275)<br>|
| Class R | &nbsp;&nbsp; (1898181)<br>| &nbsp;&nbsp; (5317519)<br>|
| Class Y | &nbsp;&nbsp; (312503105)<br>| &nbsp;&nbsp; (121788626)<br>|
| Investor Class | &nbsp;&nbsp; 6743720 | &nbsp;&nbsp; (51827490)<br>|
| Class R5 | &nbsp;&nbsp; (126329466)<br>| &nbsp;&nbsp; (200814740)<br>|
| Class R6 | &nbsp;&nbsp; (91401923)<br>| &nbsp;&nbsp; (312183140)<br>|
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; (607516080)<br>| &nbsp;&nbsp; (913371628)<br>|
| Net increase (decrease) in net assets | &nbsp;&nbsp; (665492793)<br>| &nbsp;&nbsp; 986788711 |
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 11184156103 | &nbsp;&nbsp; 10197367392 |
| End of year | &nbsp;&nbsp; $10518663310 | &nbsp;&nbsp; $11184156103 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**Invesco Diversified Dividend Fund**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 10/31/25 | $19.77 | $0.26 | $1.75 | $2.01 | $(0.26)<br>| $(1.85)<br>| $(2.11)<br>| $19.67 | 10.98<br> %<br>| &nbsp;&nbsp; $3910528 | 0.83<br> %<br>| 0.83<br> %<br>| 1.36<br> %<br>| 56<br> %<br>|
| Year ended 10/31/24 | 16.64 | 0.29 | 4.19 | 4.48 | (0.30)<br>| (1.05)<br>| (1.35)<br>| 19.77 | 28.08 | &nbsp;&nbsp; 3971988 | 0.83 | 0.83 | 1.59 | 47 |
| Year ended 10/31/23 | 19.08 | 0.30 | (0.62)<br>| (0.32)<br>| (0.34)<br>| (1.78)<br>| (2.12)<br>| 16.64 | (2.18)<br>| &nbsp;&nbsp; 3478556 | 0.82 | 0.82 | 1.69 | 39 |
| Year ended 10/31/22 | 22.89 | 0.35 | (0.56)<br>| (0.21)<br>| (0.37)<br>| (3.23)<br>| (3.60)<br>| 19.08 | (0.90)<br>| &nbsp;&nbsp; 3923162 | 0.82 | 0.82 | 1.76 | 39 |
| Year ended 10/31/21 | 17.82 | 0.37 | 5.43 | 5.80 | (0.43)<br>| (0.30)<br>| (0.73)<br>| 22.89 | 33.06 | &nbsp;&nbsp; 4287951 | 0.81 | 0.81 | 1.73 | 34 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 10/31/25 | 19.42 | 0.11 | 1.72 | 1.83 | (0.11)<br>| (1.85)<br>| (1.96)<br>| 19.29 | 10.16 | &nbsp;&nbsp; 89125 | 1.58 | 1.58 | 0.61 | 56 |
| Year ended 10/31/24 | 16.36 | 0.15 | 4.12 | 4.27 | (0.16)<br>| (1.05)<br>| (1.21)<br>| 19.42 | 27.14 | &nbsp;&nbsp; 128054 | 1.58 | 1.58 | 0.84 | 47 |
| Year ended 10/31/23 | 18.78 | 0.17 | (0.61)<br>| (0.44)<br>| (0.20)<br>| (1.78)<br>| (1.98)<br>| 16.36 | (2.89)<br>| &nbsp;&nbsp; 161365 | 1.57 | 1.57 | 0.94 | 39 |
| Year ended 10/31/22 | 22.57 | 0.20 | (0.55)<br>| (0.35)<br>| (0.21)<br>| (3.23)<br>| (3.44)<br>| 18.78 | (1.63)<br>| &nbsp;&nbsp; 220377 | 1.57 | 1.57 | 1.01 | 39 |
| Year ended 10/31/21 | 17.58 | 0.21 | 5.34 | 5.55 | (0.26)<br>| (0.30)<br>| (0.56)<br>| 22.57 | 32.02 | &nbsp;&nbsp; 276023 | 1.56 | 1.56 | 0.98 | 34 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year ended 10/31/25 | 19.88 | 0.21 | 1.75 | 1.96 | (0.21)<br>| (1.85)<br>| (2.06)<br>| 19.78 | 10.65 | &nbsp;&nbsp; 130768 | 1.08 | 1.08 | 1.11 | 56 |
| Year ended 10/31/24 | 16.72 | 0.25 | 4.22 | 4.47 | (0.26)<br>| (1.05)<br>| (1.31)<br>| 19.88 | 27.82 | &nbsp;&nbsp; 133127 | 1.08 | 1.08 | 1.34 | 47 |
| Year ended 10/31/23 | 19.16 | 0.26 | (0.62)<br>| (0.36)<br>| (0.30)<br>| (1.78)<br>| (2.08)<br>| 16.72 | (2.41)<br>| &nbsp;&nbsp; 116297 | 1.07 | 1.07 | 1.44 | 39 |
| Year ended 10/31/22 | 22.97 | 0.30 | (0.56)<br>| (0.26)<br>| (0.32)<br>| (3.23)<br>| (3.55)<br>| 19.16 | (1.15)<br>| &nbsp;&nbsp; 137274 | 1.07 | 1.07 | 1.51 | 39 |
| Year ended 10/31/21 | 17.89 | 0.32 | 5.44 | 5.76 | (0.38)<br>| (0.30)<br>| (0.68)<br>| 22.97 | 32.66 | &nbsp;&nbsp; 193353 | 1.06 | 1.06 | 1.48 | 34 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 10/31/25 | 19.79 | 0.31 | 1.76 | 2.07 | (0.31)<br>| (1.85)<br>| (2.16)<br>| 19.70 | 11.32 | &nbsp;&nbsp; 918143 | 0.58 | 0.58 | 1.61 | 56 |
| Year ended 10/31/24 | 16.66 | 0.34 | 4.19 | 4.53 | (0.35)<br>| (1.05)<br>| (1.40)<br>| 19.79 | 28.37 | &nbsp;&nbsp; 1245233 | 0.58 | 0.58 | 1.84 | 47 |
| Year ended 10/31/23 | 19.10 | 0.35 | (0.62)<br>| (0.27)<br>| (0.39)<br>| (1.78)<br>| (2.17)<br>| 16.66 | (1.93)<br>| &nbsp;&nbsp; 1153540 | 0.57 | 0.57 | 1.94 | 39 |
| Year ended 10/31/22 | 22.91 | 0.40 | (0.56)<br>| (0.16)<br>| (0.42)<br>| (3.23)<br>| (3.65)<br>| 19.10 | (0.64)<br>| &nbsp;&nbsp; 1275341 | 0.57 | 0.57 | 2.01 | 39 |
| Year ended 10/31/21 | 17.84 | 0.43 | 5.42 | 5.85 | (0.48)<br>| (0.30)<br>| (0.78)<br>| 22.91 | 33.35 | &nbsp;&nbsp; 1620295 | 0.56 | 0.56 | 1.98 | 34 |
| **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** |
| Year ended 10/31/25 | 19.77 | 0.27 | 1.75 | 2.02 | (0.28)<br>| (1.85)<br>| (2.13)<br>| 19.66 | 11.05 <br><sup>(d)</sup><br>| &nbsp;&nbsp; 1596756 | 0.75 <br><sup>(d)</sup><br>| 0.75 <br><sup>(d)</sup><br>| 1.44 <br><sup>(d)</sup><br>| 56 |
| Year ended 10/31/24 | 16.64 | 0.32 | 4.18 | 4.50 | (0.32)<br>| (1.05)<br>| (1.37)<br>| 19.77 | 28.20 <br><sup>(d)</sup><br>| &nbsp;&nbsp; 1596064 | 0.72 <br><sup>(d)</sup><br>| 0.72 <br><sup>(d)</sup><br>| 1.70 <br><sup>(d)</sup><br>| 47 |
| Year ended 10/31/23 | 19.07 | 0.32 | (0.61)<br>| (0.29)<br>| (0.36)<br>| (1.78)<br>| (2.14)<br>| 16.64 | (2.03 )<sup>(d)</sup><br>| &nbsp;&nbsp; 1385127 | 0.72 <br><sup>(d)</sup><br>| 0.72 <br><sup>(d)</sup><br>| 1.79 <br><sup>(d)</sup><br>| 39 |
| Year ended 10/31/22 | 22.88 | 0.37 | (0.56)<br>| (0.19)<br>| (0.39)<br>| (3.23)<br>| (3.62)<br>| 19.07 | (0.81 )<sup>(d)</sup><br>| &nbsp;&nbsp; 1565529 | 0.73 <br><sup>(d)</sup><br>| 0.73 <br><sup>(d)</sup><br>| 1.85 <br><sup>(d)</sup><br>| 39 |
| Year ended 10/31/21 | 17.82 | 0.40 | 5.41 | 5.81 | (0.45)<br>| (0.30)<br>| (0.75)<br>| 22.88 | 33.11 <br><sup>(d)</sup><br>| &nbsp;&nbsp; 1742672 | 0.70 <br><sup>(d)</sup><br>| 0.70 <br><sup>(d)</sup><br>| 1.84 <br><sup>(d)</sup><br>| 34 |
| **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** |
| Year ended 10/31/25 | 19.77 | 0.31 | 1.75 | 2.06 | (0.32)<br>| (1.85)<br>| (2.17)<br>| 19.66 | 11.25 | &nbsp;&nbsp; 1659002 | 0.54 | 0.54 | 1.65 | 56 |
| Year ended 10/31/24 | 16.64 | 0.35 | 4.18 | 4.53 | (0.35)<br>| (1.05)<br>| (1.40)<br>| 19.77 | 28.44 | &nbsp;&nbsp; 1799847 | 0.55 | 0.55 | 1.87 | 47 |
| Year ended 10/31/23 | 19.07 | 0.35 | (0.61)<br>| (0.26)<br>| (0.39)<br>| (1.78)<br>| (2.17)<br>| 16.64 | (1.85)<br>| &nbsp;&nbsp; 1688322 | 0.54 | 0.54 | 1.97 | 39 |
| Year ended 10/31/22 | 22.89 | 0.41 | (0.57)<br>| (0.16)<br>| (0.43)<br>| (3.23)<br>| (3.66)<br>| 19.07 | (0.66)<br>| &nbsp;&nbsp; 2027303 | 0.53 | 0.53 | 2.05 | 39 |
| Year ended 10/31/21 | 17.82 | 0.43 | 5.43 | 5.86 | (0.49)<br>| (0.30)<br>| (0.79)<br>| 22.89 | 33.45 | &nbsp;&nbsp; 3062152 | 0.52 | 0.52 | 2.02 | 34 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 10/31/25 | 19.77 | 0.32 | 1.75 | 2.07 | (0.33)<br>| (1.85)<br>| (2.18)<br>| 19.66 | 11.34 | &nbsp;&nbsp; 2214341 | 0.47 | 0.47 | 1.72 | 56 |
| Year ended 10/31/24 | 16.64 | 0.36 | 4.19 | 4.55 | (0.37)<br>| (1.05)<br>| (1.42)<br>| 19.77 | 28.52 | &nbsp;&nbsp; 2309843 | 0.48 | 0.48 | 1.94 | 47 |
| Year ended 10/31/23 | 19.07 | 0.36 | (0.61)<br>| (0.25)<br>| (0.40)<br>| (1.78)<br>| (2.18)<br>| 16.64 | (1.77)<br>| &nbsp;&nbsp; 2214161 | 0.47 | 0.47 | 2.04 | 39 |
| Year ended 10/31/22 | 22.89 | 0.42 | (0.57)<br>| (0.15)<br>| (0.44)<br>| (3.23)<br>| (3.67)<br>| 19.07 | (0.58)<br>| &nbsp;&nbsp; 2702340 | 0.46 | 0.46 | 2.12 | 39 |
| Year ended 10/31/21 | 17.83 | 0.45 | 5.42 | 5.87 | (0.51)<br>| (0.30)<br>| (0.81)<br>| 22.89 | 33.49 | &nbsp;&nbsp; 3605804 | 0.43 | 0.43 | 2.11 | 34 |

---

<sup>(a)</sup> Calculated using average shares outstanding.

<sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable. 

<sup>(c)</sup> Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.

<sup>(d)</sup> The total return, ratios of expenses to average net assets and ratio of net investment income (loss) to average net assets reflect actual 12b-1 fees of 0.17%, 0.14%, 0.15%, 0.16% and 0.14% for the years ended October 31, 2025, 2024, 2023, 2022 and 2021, respectively. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**8**

**Invesco Diversified Dividend Fund**

------

**Notes to Financial Statements**

*October 31, 2025*

**NOTE 1—Significant Accounting Policies**

Invesco Diversified Dividend Fund (the "Fund") is a series portfolio of AIM Equity Funds (Invesco Equity Funds) (the "Trust"). The Trust is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's investment objective is long-term growth of capital and, secondarily, current income.

The Fund currently consists of seven different classes of shares: Class A, Class C, Class R, Class Y, Investor Class, Class R5 and Class R6. Class Y shares are available only to certain investors. Class A shares are sold with a front-end sales charge unless certain waiver criteria are met. Under certain circumstances, load waived shares may be subject to contingent deferred sales charges ("CDSC"). Class C shares are sold with a CDSC. Class R, Class Y, Investor Class, Class R5 and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Class A shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

Investor Class and Class R5 shares are closed to new investors.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

**A.** **Security Valuations** — Securities, including restricted securities, are valued according to the following policy.

A security listed or traded on an exchange is generally valued at its trade price or official closing price that day as of the close of the exchange where the security is principally traded, or lacking any trades or official closing price on a particular day, the security may be valued at the closing bid or ask price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued using prices provided by an independent pricing service they may be considered fair valued. Futures contracts are valued at the daily settlement price set by an exchange on which they are principally traded. Where a final settlement price exists, exchange-traded options are valued at the final settlement price from the exchange where the option principally trades. Where a final settlement price does not exist, exchange-traded options are valued at the mean between the last bid and ask price generally from the exchange where the option principally trades.

Securities of investment companies that are not exchange-traded (e.g., open-end mutual funds) are valued using such company's end-of-business-day net asset value per share.

Deposits, other obligations of U.S. and non-U.S. banks and financial institutions are valued at their daily account value.

Fixed income securities (including convertible debt securities) generally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots, and their value may be adjusted accordingly. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

Foreign securities' (including foreign exchange contracts) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the New York Stock Exchange ("NYSE"). If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Invesco Advisers, Inc. (the "Adviser" or "Invesco") may use various pricing services to obtain market quotations as well as fair value prices. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become not representative of market value in the Adviser's judgment ("unreliable"). If, between the time trading ends on a particular security and the close of the customary trading session on the NYSE, a significant event occurs that makes the closing price of the security unreliable, the Adviser may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith in accordance with Board- approved policies and related Adviser procedures ("Valuation Procedures"). Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities' prices meeting the degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.

Unlisted securities will be valued using prices provided by independent pricing services or by another method that the Adviser, in its judgment, believes better reflects the security's fair value in accordance with the Valuation Procedures.

Non-traded rights and warrants shall be valued at intrinsic value if the terms of the rights and warrants are available, specifically the subscription or exercise price and the ratio. Intrinsic value is calculated as the daily market closing price of the security to be received less the subscription price, which is then adjusted by the exercise ratio. In the case of warrants, an option pricing model supplied by an independent pricing service may be used based on market data such as volatility, stock price and interest rate from the independent pricing service and strike price and exercise period from verified terms.

Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The mean between the last bid and ask prices may be used to value debt obligations, including corporate loans.

Securities for which market quotations are not readily available are fair valued by the Adviser in accordance with the Valuation Procedures. If a fair value price provided by a pricing service is unreliable, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer's assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises, economic sanctions and tariffs, significant governmental actions or adverse investor sentiment generally and market liquidity. 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.

**9**

**Invesco Diversified Dividend Fund**

------

The price the Fund could receive upon the sale of any investment may differ from the Adviser's valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Fund securities that are fair valued may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used. Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, the Fund could realize a greater or lesser than expected gain or loss upon the sale of the investment.

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date.

The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class.

**C.** **Country Determination** — For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

**D.** **Distributions** - Distributions from net investment income, if any, are declared and paid quarterly and are recorded on the ex-dividend date. Distributions from net realized capital gain, if any, are generally declared and paid annually and recorded on the ex-dividend date. The Fund may elect to treat a portion of the proceeds from redemptions as distributions for federal income tax purposes.

**E.** **Federal Income Taxes –** The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

**F.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R5 and Class R6 are allocated based on relative net assets of Class R5 and Class R6. Sub-accounting fees attributable to Class R5 are charged to the operations of the class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative net assets.

**G.** **Accounting Estimates** – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** – Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole, thereby enabling better understanding of how an entity's segments impact overall performance. The Fund represents a single operating segment. Subject to the oversight and, when applicable, approval of the Board of Trustees, the Adviser acts as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements. Adoption of the new standard impacted the Fund's financial statement notes disclosures only and did not affect the Fund's financial position or the results of its operations.

**J.** **Securities Lending** – The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the 1940 Act and money market funds (collectively, "affiliated money market funds") and is shown as such on the Schedule of Investments. The Fund bears the risk of loss with respect to the investment of collateral. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following

**10**

**Invesco Diversified Dividend Fund**

------

the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When loaning securities, the Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to the Fund if, and to the extent that, the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or the Fund. Upon termination, the borrower will return to the Fund the securities loaned and the Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to the Fund. Some of these losses may be indemnified by the lending agent. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in *Dividends from affiliated money market funds* on the Statement of Operations. The aggregate value of securities out on loan, if any, is shown as a footnote on the Statement of Assets and Liabilities.

The Adviser serves as an affiliated securities lending agent for the Fund. The Bank of New York Mellon also serves as a securities lending agent. To the extent the Fund utilizes the Adviser as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the year ended October 31, 2025, the Fund paid the Adviser $3,021 in fees for securities lending agent services. Fees paid to the Adviser for securities lending agent services, if any, are included in *Dividends from affiliated money market funds* on the Statement of Operations.

**K.** **Foreign Currency Translations** — Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. 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.

**L.** **Forward Foreign Currency Contracts** — The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate** |
| First $350 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.600% |
| Next $350 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.550% |
| Next $1.3 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.500% |
| Next $2 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.450% |
| Next $2 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.400% |
| Next $2 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.375% |
| Over $8 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.350% |

---

For the year ended October 31, 2025, the effective advisory fee rate incurred by the Fund was 0.42%.

Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Affiliated Sub-Adviser(s).

**11**

**Invesco Diversified Dividend Fund**

------

The Adviser has agreed, for an indefinite period, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class R, Class Y, Investor Class, Class R5 and Class R6 shares to 2.00%, 2.75%, 2.25%, 1.75%, 2.00%, 1.75% and 1.75%, respectively, of the Fund's average daily net assets (the "boundary limits"). In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Invesco may amend and/or terminate these boundary limits at any time in its sole discretion and will inform the Board of Trustees of any such changes. The Adviser did not waive fees and/or reimburse expenses during the period under these boundary limits.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from the affiliated money market funds on investments by the Fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds.

For the year ended October 31, 2025, the Adviser waived advisory fees of $263,390.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended October 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended October 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Class A, Class C, Class R, Class Y, Investor Class, Class R5 and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A, Class C, Class R and Investor Class shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.25% of the Fund's average daily net assets of Class A shares, 1.00% of the average daily net assets of Class C shares and 0.50% of the average daily net assets of Class R shares. The Fund, pursuant to the Investor Class Plan, reimburses IDI for its allocated share of expenses incurred pursuant to the Investor Class Plan for the period, up to a maximum annual rate of 0.25% of the average daily net assets of Investor Class shares. The fees are accrued daily and paid monthly. Of the Plans payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended October 31, 2025, expenses incurred under the Plans are shown in the Statement of Operations as *Distribution fees*.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended October 31, 2025, IDI advised the Fund that IDI retained $294,193 in front-end sales commissions from the sale of Class A shares and $10,507 and $4,121 from Class A and Class C shares, respectively, for CDSC imposed upon redemptions by shareholders.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

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. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.

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 Adviser'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 October 31, 2025. 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** |
| <br>**Investments in Securities** |  |  |  |  |
| Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;&nbsp; $10029091038 | &nbsp;&nbsp;&nbsp;&nbsp; $350521251 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $10379612289 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 124152210 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 124152210 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $10153243248 | &nbsp;&nbsp;&nbsp;&nbsp; $350521251 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $10503764499 |

---

**NOTE 4—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended October 31, 2025, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $89,179.

**12**

**Invesco Diversified Dividend Fund**

------

**NOTE 5—Trustees' and Officers' Fees and Benefits**

*Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and *Trustees' and Officers' Fees and Benefits* also include amounts accrued by the Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Finally, certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Fund may have certain former Trustees who also participate in a retirement plan and receive benefits under such plan. *Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Fund.

**NOTE 6—Cash Balances**

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

**NOTE 7—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** |
|  | **2025** | **2024** |
| Ordinary income\* | &nbsp;&nbsp; $193024705 | &nbsp;&nbsp;&nbsp;&nbsp; $196585263 |
| Long-term capital gain | &nbsp;&nbsp; 983618595 | &nbsp;&nbsp;&nbsp;&nbsp; 630505594 |
| Total distributions | &nbsp;&nbsp; $1176643300 | &nbsp;&nbsp;&nbsp;&nbsp; $827090857 |

---

\* Includes short-term capital gain distributions, if any.

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2025** |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp; $225859 |
| Undistributed long-term capital gain | &nbsp;&nbsp;&nbsp;&nbsp; 1074243362 |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; 2702550089 |
| Net unrealized appreciation — foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; 1020006 |
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (523458)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 6741147452 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $10518663310 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to wash sales.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund does not have a capital loss carryforward as of October 31, 2025.

**NOTE 8—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended October 31, 2025 was $5,821,524,669 and $7,376,627,363, respectively. As of October 31, 2025, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $2863655658 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (161105569)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $2702550089 |

---

Cost of investments for tax purposes is $7,801,214,410.

**NOTE 9—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of equalization, on October 31, 2025, undistributed net investment income was decreased by $57,349, undistributed net realized gain was decreased by $148,356,651 and shares of beneficial interest was increased by $148,414,000. This reclassification had no effect on the net assets of the Fund.

**13**

**Invesco Diversified Dividend Fund**

------

**NOTE 10—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**October 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**October 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**October 31, 2024** | **Year ended** <br>**October 31, 2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 9586727 | &nbsp;&nbsp;&nbsp; $179316712 | &nbsp;&nbsp;&nbsp; 11864004 | &nbsp;&nbsp;&nbsp; $217664292 |
| Class C | &nbsp;&nbsp;&nbsp; 454030 | &nbsp;&nbsp;&nbsp; 8323331 | &nbsp;&nbsp;&nbsp; 470414 | &nbsp;&nbsp;&nbsp; 8528719 |
| Class R | &nbsp;&nbsp;&nbsp; 1083250 | &nbsp;&nbsp;&nbsp; 20252285 | &nbsp;&nbsp;&nbsp; 929146 | &nbsp;&nbsp;&nbsp; 17219512 |
| Class Y | &nbsp;&nbsp;&nbsp; 10151920 | &nbsp;&nbsp;&nbsp; 189401016 | &nbsp;&nbsp;&nbsp; 13417563 | &nbsp;&nbsp;&nbsp; 243746553 |
| Investor Class | &nbsp;&nbsp;&nbsp; 775702 | &nbsp;&nbsp;&nbsp; 14613612 | &nbsp;&nbsp;&nbsp; 740739 | &nbsp;&nbsp;&nbsp; 13609375 |
| Class R5 | &nbsp;&nbsp;&nbsp; 7952658 | &nbsp;&nbsp;&nbsp; 146782758 | &nbsp;&nbsp;&nbsp; 7697008 | &nbsp;&nbsp;&nbsp; 141307869 |
| Class R6 | &nbsp;&nbsp;&nbsp; 16473991 | &nbsp;&nbsp;&nbsp; 307815408 | &nbsp;&nbsp;&nbsp; 14197188 | &nbsp;&nbsp;&nbsp; 260016878 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 20912691 | &nbsp;&nbsp;&nbsp; 385430828 | &nbsp;&nbsp;&nbsp; 15222254 | &nbsp;&nbsp;&nbsp; 266401070 |
| Class C | &nbsp;&nbsp;&nbsp; 639793 | &nbsp;&nbsp;&nbsp; 11545306 | &nbsp;&nbsp;&nbsp; 628234 | &nbsp;&nbsp;&nbsp; 10751141 |
| Class R | &nbsp;&nbsp;&nbsp; 732002 | &nbsp;&nbsp;&nbsp; 13549987 | &nbsp;&nbsp;&nbsp; 509046 | &nbsp;&nbsp;&nbsp; 8970179 |
| Class Y | &nbsp;&nbsp;&nbsp; 5478942 | &nbsp;&nbsp;&nbsp; 101099293 | &nbsp;&nbsp;&nbsp; 3891818 | &nbsp;&nbsp;&nbsp; 68072571 |
| Investor Class | &nbsp;&nbsp;&nbsp; 8604200 | &nbsp;&nbsp;&nbsp; 158271908 | &nbsp;&nbsp;&nbsp; 5782504 | &nbsp;&nbsp;&nbsp; 101553110 |
| Class R5 | &nbsp;&nbsp;&nbsp; 10451015 | &nbsp;&nbsp;&nbsp; 192271978 | &nbsp;&nbsp;&nbsp; 7956788 | &nbsp;&nbsp;&nbsp; 139838981 |
| Class R6 | &nbsp;&nbsp;&nbsp; 13082698 | &nbsp;&nbsp;&nbsp; 240871458 | &nbsp;&nbsp;&nbsp; 10329881 | &nbsp;&nbsp;&nbsp; 181290156 |
| **Automatic conversion of Class C shares to Class A shares:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 1850454 | &nbsp;&nbsp;&nbsp; 34688379 | &nbsp;&nbsp;&nbsp; 2576703 | &nbsp;&nbsp;&nbsp; 48073622 |
| Class C | &nbsp;&nbsp;&nbsp; (1887417)<br>| &nbsp;&nbsp;&nbsp; (34688379)<br>| &nbsp;&nbsp;&nbsp; (2624185)<br>| &nbsp;&nbsp;&nbsp; (48073622)<br>|
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (34449483)<br>| &nbsp;&nbsp;&nbsp; (645158675)<br>| &nbsp;&nbsp;&nbsp; (37786987)<br>| &nbsp;&nbsp;&nbsp; (693319822)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (1179473)<br>| &nbsp;&nbsp;&nbsp; (21584627)<br>| &nbsp;&nbsp;&nbsp; (1743056)<br>| &nbsp;&nbsp;&nbsp; (31465513)<br>|
| Class R | &nbsp;&nbsp;&nbsp; (1903213)<br>| &nbsp;&nbsp;&nbsp; (35700453)<br>| &nbsp;&nbsp;&nbsp; (1694631)<br>| &nbsp;&nbsp;&nbsp; (31507210)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (31922423)<br>| &nbsp;&nbsp;&nbsp; (603003414)<br>| &nbsp;&nbsp;&nbsp; (23636231)<br>| &nbsp;&nbsp;&nbsp; (433607750)<br>|
| Investor Class | &nbsp;&nbsp;&nbsp; (8898854)<br>| &nbsp;&nbsp;&nbsp; (166141800)<br>| &nbsp;&nbsp;&nbsp; (9051275)<br>| &nbsp;&nbsp;&nbsp; (166989975)<br>|
| Class R5 | &nbsp;&nbsp;&nbsp; (25080324)<br>| &nbsp;&nbsp;&nbsp; (465384202)<br>| &nbsp;&nbsp;&nbsp; (26086749)<br>| &nbsp;&nbsp;&nbsp; (481961590)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (33797014)<br>| &nbsp;&nbsp;&nbsp; (640088789)<br>| &nbsp;&nbsp;&nbsp; (40754409)<br>| &nbsp;&nbsp;&nbsp; (753490174)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; (30888128)<br>| &nbsp;&nbsp;&nbsp; $(607516080)<br>| &nbsp;&nbsp;&nbsp; (47164233)<br>| &nbsp;&nbsp;&nbsp; $(913371628)<br>|

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 48% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**14**

**Invesco Diversified Dividend Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Equity Funds (Invesco Equity Funds) and Shareholders of Invesco Diversified Dividend Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Diversified Dividend Fund (one of the funds constituting AIM Equity Funds (Invesco Equity Funds), referred to hereafter as the "Fund") as of October 31, 2025, the related statement of operations for the year ended October 31, 2025, the statement of changes in net assets for each of the two years in the period ended October 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2025 and the financial highlights for each of the five years in the period ended October 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2025 by correspondence with the custodian, transfer agent and broker. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

December 18, 2025

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**15**

**Invesco Diversified Dividend Fund**

------

**Approval of Investment Advisory and Sub-Advisory Contracts** 

At meetings held on June 16, 2025, the Board of Trustees (the Board or the Trustees) of AIM Equity Funds (Invesco Equity Funds) as a whole, and the independent Trustees, who comprise over 75% of the Board, voting separately, approved the continuance of the Invesco Diversified Dividend Fund's (the Fund) Master Investment Advisory Agreement with Invesco Advisers, Inc. (Invesco Advisers and the investment advisory agreement) and the Master Intergroup Sub-Advisory Contract for Mutual Funds with Invesco Asset Management Deutschland GmbH\*, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2025. After evaluating the factors discussed below, among others, the Board approved the renewal of the Fund's investment advisory agreement and the sub-advisory contracts and determined that the compensation payable thereunder by the Fund to Invesco Advisers and by Invesco Advisers to the Affiliated Sub-Advisers is fair and reasonable.

**The Board's Evaluation Process**

The Board has established an Investments Committee, which in turn has established Sub-Committees. The Sub-Committees meet regularly throughout the year with portfolio managers and other members of management to review information about the investment performance and portfolio attributes for those funds advised by Invesco Advisers (Invesco Funds) assigned to them. The Board has established additional standing and ad hoc committees that meet throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the Board's annual review process for the Invesco Funds' investment advisory agreement and sub-advisory contracts (the annual review process). In considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts, the Board took into account evaluations and reports that it received from its committees and sub-committees, as well as the information provided to the Board and its committees and sub-committees throughout the year.

As part of the annual review process, the Board reviews and considers information provided in response to requests for information submitted to management by the independent Trustees with assistance from legal counsel to the independent Trustees (independent legal counsel) and the Senior Officer, an officer of the Invesco Funds who reports directly to the independent Trustees. The Board receives comparative investment performance and fee and expense data regarding the Invesco Funds prepared by Broadridge Financial Solutions, Inc. (Broadridge), an independent provider of investment company data, as well as information on the composition of the peer groups and its methodology for determining peer groups. The Board also receives an independent written evaluation from the Senior Officer. The Senior Officer's evaluation is prepared as part of his responsibility to manage the process by which the Invesco Funds' proposed management fees

are negotiated during the annual review process to ensure they are negotiated in a manner that is at arms' length and reasonable in accordance with certain negotiated regulatory requirements. In addition to meetings with Invesco Advisers and fund counsel throughout the year and as part of meetings convened on May 6, 2025 and June 16-18, 2025, the independent Trustees also discussed the continuance of the investment advisory agreement and sub-advisory contracts in separate sessions with the Senior Officer and with independent legal counsel.

The discussion below includes summary information drawn in part from the Senior Officer's independent written evaluation with respect to the Fund's investment advisory agreement and sub-advisory contracts, as well as a discussion of the material factors and related conclusions that formed the basis for the Board's approval of the Fund's investment advisory agreement and sub-advisory contracts. The Trustees' review and conclusions are based on the comprehensive consideration of all information presented to them during the course of the year and are not the result of any single determinative factor. Moreover, one Trustee may have weighed a particular piece of information or factor differently than another Trustee.

**Factors and Conclusions and Summary of Independent Written Fee Evaluation**

*A.* *Nature, Extent and Quality of Services Provided by Invesco Advisers and the Affiliated Sub-Advisers*

The Board reviewed the nature, extent and quality of the advisory services provided to the Fund by Invesco Advisers under the Fund's investment advisory agreement, and the credentials and experience of the officers and employees of Invesco Advisers who provide these services, including the Fund's portfolio manager(s). The Board's review included consideration of Invesco Advisers' investment process and oversight, credit analysis and research capabilities. The Board considered information regarding Invesco Advisers' programs for and resources devoted to risk management, including management of investment, enterprise, operational, liquidity, derivatives, valuation and compliance risks, and technology used to manage such risks. The Board received information regarding Invesco's methodology for compensating its investment professionals and the incentives and accountability it creates, as well as how it impacts Invesco's ability to attract and retain talent. The Board considered that Invesco Advisers has shown the willingness to commit resources to support investment in the business and to remain well-positioned to serve Fund shareholders including with regard to attracting and retaining qualified personnel on its investment teams and investing in technology. The Board received a description of, and reports related to, Invesco Advisers' global security program and business continuity plans and of its approach to data privacy and cybersecurity, including related testing. The Board also considered non-advisory services that Invesco Advisers and its affiliates provide to the Invesco Funds, such as various middle office and back office support functions, third party oversight, internal audit, valuation, portfolio trading and legal and compliance. The Board considered Invesco

Advisers' systems preparedness and ongoing investment to seek to manage, operate and oversee the Invesco Funds with minimal impact or disruption through challenging environments. The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in running an investment management business, as well as its commitment of financial and other resources to such business. The Board concluded that the nature, extent and quality of the services provided to the Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

The Board reviewed the services that may be provided to the Fund by the Affiliated Sub-Advisers under the sub-advisory contracts and the credentials and experience of the officers and employees of the Affiliated Sub-Advisers who provide these services. The Board noted the Affiliated Sub-Advisers' expertise with respect to certain asset classes and that the Affiliated Sub-Advisers have offices and personnel that are located in financial centers around the world. As a result, the Board noted that the Affiliated Sub-Advisers can provide research and investment analysis on the markets and economies of various countries and territories in which the Fund may invest, make recommendations regarding securities and assist with portfolio trading. The Board concluded that the sub-advisory contracts may benefit the Fund and its shareholders by permitting Invesco Advisers to use the resources and talents of the Affiliated Sub-Advisers in managing the Fund. The Board concluded that the nature, extent and quality of the services that may be provided to the Fund by the Affiliated Sub-Advisers supported the renewal of the sub-advisory contracts.

*B.* *Fund Investment Performance*

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement. The Board did not view Fund investment performance as a relevant factor in considering whether to approve the sub-advisory contracts for the Fund, as no Affiliated Sub-Adviser currently manages assets of the Fund.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against Russell 1000® Value Index (Index). The Board noted that performance of Class A shares of the Fund was in the third quintile of its performance universe for the one and three year periods and in the fifth quintile for the five year period (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Class A shares of the Fund was reasonably comparable to the performance of the Index for the one year period, above the performance of the Index for the three year period and below the performance of the Index for the five year period. The Board considered that the Fund's defensive positioning relative to the peer group and stock selection (i.e., not holding certain large cap stocks) detracted from the Fund's relative performance. The Board recognized that the performance data reflects a

**16**

**Invesco Diversified Dividend Fund**

------

snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions.

*C.* *Advisory and Sub-Advisory Fees and Fund Expenses*

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Class A shares of the Fund were each below the median contractual management and actual management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most recent prospectus or statement of additional information for each fund in the expense group. The Board requested and received additional information regarding the Fund's actual and contractual management fees and the levels of the Fund's breakpoints in light of current asset levels. The Board also considered comparative information regarding the Fund's total expense ratio and its various components.

The Board noted that Invesco Advisers has voluntarily agreed to waive fees and/or limit expenses of the Fund for an indefinite period until further notice to the Board in an amount necessary to limit total annual operating expenses to a specified percentage of average daily net assets for each class of the Fund.

The Board also considered the fees charged by Invesco Advisers and its affiliates to other client accounts that are similarly managed. Invesco Advisers reviewed with the Board differences in the scope of services it provides to the Invesco Funds relative to that provided by Invesco Advisers and its affiliates to certain other types of client accounts, including, among others: management of cash flows as a result of redemptions and purchases; necessary infrastructure such as officers, office space, technology, legal and distribution; oversight of service providers; costs and business risks associated with launching new funds and sponsoring and maintaining the product line; and compliance with federal and state laws and regulations. Invesco Advisers also advised the Board that many of the similarly managed client accounts have all-inclusive fee structures, which are not easily un-bundled.

The Board also compared the Fund's advisory fee rate before the application of advisory fee waivers/expense limitations) to the effective advisory fee rates before the application of advisory fee waivers/expense limitations of other similarly managed third-party mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2024.

The Board also considered the services that may be provided by the Affiliated Sub-Advisers pursuant to the sub-advisory contracts, as well as the fees payable by Invesco Advisers to the Affiliated Sub-Advisers pursuant to the sub-advisory contracts.

*D.* *Economies of Scale and Breakpoints*

The Board considered the extent to which there may be economies of scale in the provision of advisory services to the Fund and the Invesco Funds, and the extent to which such economies of scale are shared with the Fund and the Invesco Funds. The Board acknowledged the limitations in calculating and measuring economies of scale at the individual fund level, noting that only indicative and estimated measures are available at the individual fund level and that such measures are subject to uncertainty. The Board considered that the Fund benefits from economies of scale through contractual breakpoints in the Fund's advisory fee schedule, which generally operate to reduce the Fund's expense ratio as it grows in size. The Board considered information from Invesco Advisers regarding the levels of the Fund's breakpoints in light of current assets. The Board noted that the Fund also shares in economies of scale through Invesco Advisers' ability to negotiate lower fee arrangements with third party service providers. The Board noted that the Fund may also benefit from economies of scale through initial fee setting, fee waivers and expense reimbursements, as well as Invesco Advisers' management of significant assets and investment in its business, including investments in business infrastructure, technology and cybersecurity.

*E.* *Profitability and Financial Resources*

The Board reviewed information from Invesco Advisers concerning the costs of the advisory and other services that Invesco Advisers and its affiliates provide to the Fund and the Invesco Funds and the profitability of Invesco Advisers and its affiliates in providing these services in the aggregate and on an individual fund-by-fund basis. The Board considered the methodology used for calculating profitability and the periodic review and enhancement of such methodology. The Board noted that Invesco Advisers continues to operate at a net profit from services Invesco Advisers and its affiliates provide to the Invesco Funds in the aggregate and to most Invesco Funds individually. The Board considered that profits to Invesco Advisers can vary significantly depending on the particular Invesco Fund, with some Invesco Funds showing indicative losses to Invesco Advisers and others showing indicative profits at healthy levels, and that Invesco Advisers' support for and commitment to an Invesco Fund are not, however, solely dependent on the profits attributed to such Fund. The Board did not deem the level of profits realized by Invesco Advisers and its affiliates from providing such services to be excessive, given the nature, extent and quality of the services provided. The Board noted that Invesco Advisers provided information demonstrating that Invesco Advisers is financially sound and has the resources necessary to perform its obligations under the investment advisory agreement, and provided representations indicating that the Affiliated Sub-Advisers are financially sound and have the resources necessary to perform their obligations under the sub-advisory contracts. The Board noted the cyclical and competitive nature of the global asset management industry.

&nbsp;&nbsp;&nbsp;&nbsp;

*F.* *Collateral Benefits to Invesco Advisers and its Affiliates*

The Board considered various other benefits received by Invesco Advisers and its affiliates from the relationship with the Fund, including the fees received for providing administrative, transfer agency and distribution services to the Fund. The Board received comparative information regarding fees charged for these services, including information provided by Broadridge and other independent sources. The Board reviewed the performance of Invesco Advisers and its affiliates in providing these services and the organizational structure employed to provide these services. The Board noted that these services are provided to the Fund pursuant to written contracts that are reviewed and subject to approval on an annual basis by the Board based on its reasonable business judgement and in accordance with applicable regulatory guidance.

The Board considered the benefits realized by Invesco Advisers and the Affiliated Sub-Advisers as a result of portfolio brokerage transactions executed through "soft dollar" arrangements. The Board noted that soft dollar arrangements may result in the Fund bearing costs to purchase research that may be used by Invesco Advisers or the Affiliated Sub-Advisers with other clients and may reduce Invesco Advisers' or the Affiliated Sub-Advisers' expenses. The Board also considered that it receives from Invesco Advisers periodic reports that include a representation to the effect that these arrangements are consistent with regulatory requirements. The Board did not deem the soft dollar arrangements to be inappropriate.

The Board considered that the Fund's uninvested cash and cash collateral from any securities lending arrangements may be invested in registered money market funds or, with regard to securities lending cash collateral, unregistered funds that comply with Rule 2a-7 under the Investment Company Act of 1940 (collectively referred to as "affiliated money market funds") advised by Invesco Advisers. The Board considered information regarding the returns of the affiliated money market funds relative to comparable overnight investments, as well as the fees paid by the affiliated money market funds to Invesco Advisers and its affiliates. In this regard, the Board noted that Invesco Advisers receives advisory fees from these affiliated money market funds attributable to the Fund's investments. The Board also noted that Invesco Advisers has contractually agreed to waive through varying periods an amount equal to 100% of the net advisory fee Invesco Advisers receives from the affiliated money market funds with respect to the Fund's investment in the affiliated money market funds of uninvested cash, but not cash collateral. The Board concluded that the advisory fees payable to Invesco Advisers from the Fund's investment of cash collateral from any securities lending arrangements in the affiliated money market funds are for services that are not duplicative of services provided by Invesco Advisers to the Fund.

The Board considered that Invesco Advisers may serve as the Fund's affiliated securities lending agent and evaluated the benefits realized by Invesco Advisers when serving in such role, including the compensation received. The Board considered Invesco Advisers' securities lending platform and corporate governance structure for securities lending, including Invesco Advisers' Securities Lending Governance Committee and its related

**17**

**Invesco Diversified Dividend Fund**

------

responsibilities. The Board noted that to the extent the Fund utilizes Invesco Advisers as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services without obtaining exemptive relief. The Board considered information provided by Invesco Advisers related to the performance of Invesco Advisers as securities lending agent, including a summary of the securities lending services provided to the Fund by Invesco Advisers and the compensation paid to Invesco Advisers for such services, as well as any revenues generated for the Fund in connection with such securities lending activity and the allocation of such revenue between the Fund and Invesco Advisers.

The Board also received information about commissions that an affiliated broker may receive for executing certain trades for the Fund. Invesco Advisers and the Affiliated Sub-Advisers advised the Board of the benefits to the Fund of executing trades through the affiliated broker and that such trades were executed in compliance with rules under the federal securities laws and consistent with best execution obligations.

\* Effective as of August 29, 2025, Invesco Asset Management Deutschland GmbH merged into Invesco Management S.A.

**18**

**Invesco Diversified Dividend Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended October 31, 2025:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Long-Term Capital Gain Distributions | &nbsp;&nbsp; $1132032595 |
| Qualified Dividend Income\* | &nbsp;&nbsp; 100.00% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 98.65% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 0.00% |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 0.00% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

---

| | |
|:---|:---|
| **Non-Resident Alien Shareholders** |  |
| Short-Term Capital Gain Distributions | &nbsp;&nbsp; $32368961 |

---

**19**

**Invesco Diversified Dividend Fund**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

The statement regarding basis for approval of investment advisory contracts can be found in the Approval of Investment Advisory and Sub-Advisory Contracts section of this report.

**20**

**Invesco Diversified Dividend Fund**

------

![](imgde7508f61.jpg)

SEC file number(s): 811-01424 and 002-25469

Invesco Distributors, Inc.

DDI-NCSR

------

![](img0ad3a0d41.jpg)

------

**Annual Financial Statements and Other Information**

**October 31, 2025**

**Invesco Main Street All Cap Fund**<sup>®</sup>

Nasdaq:

A: OMSOX ■ C: OMSCX ■ R: OMSNX ■ Y: OMSYX ■ R5: MSAZX ■ R6: IOAPX

------

---

| | |
|:---|:---|
| [2](#xx_452b4f91-2c1d-4ff5-8b0e-f1fa8a8a4e91_SOI-Continued-677_1) | Schedule of Investments |
| [5](#xx_452b4f91-2c1d-4ff5-8b0e-f1fa8a8a4e91_FS-Continued-677_1) | Financial Statements |
| [8](#xx_452b4f91-2c1d-4ff5-8b0e-f1fa8a8a4e91_FS-Continued-677_4) | Financial Highlights |
| [9](#xx_452b4f91-2c1d-4ff5-8b0e-f1fa8a8a4e91_NTF-Continued-677_1) | Notes to Financial Statements |
| [15](#xx_452b4f91-2c1d-4ff5-8b0e-f1fa8a8a4e91_ARS-Continued-677_1) | Report of Independent Registered Public Accounting Firm |
| [16](#xx_452b4f91-2c1d-4ff5-8b0e-f1fa8a8a4e91_AOC-Continued-677_1) | Approval of Investment Advisory and Sub-Advisory Contracts |
| [18](#xx_452b4f91-2c1d-4ff5-8b0e-f1fa8a8a4e91_TI-Continued-677_1) | Tax Information |
| [19](#xx_452b4f91-2c1d-4ff5-8b0e-f1fa8a8a4e91_OIRSR-Continued-677_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments**<sup>(a)</sup> 

*October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests–98.90%** | **Common Stocks & Other Equity Interests–98.90%** | **Common Stocks & Other Equity Interests–98.90%** |
| **Aerospace & Defense–2.22%** | **Aerospace & Defense–2.22%** | **Aerospace & Defense–2.22%** |
| Airbus SE (France) | 37555 | &nbsp;&nbsp; $9259975 |
| ATI, Inc.<sup>(b)</sup>  | 111508 | &nbsp;&nbsp; 11035947 |
| Boeing Co. (The)<sup>(b)</sup>  | 30695 | &nbsp;&nbsp; 6170309 |
| Howmet Aerospace, Inc. | 55515 | &nbsp;&nbsp; 11433314 |
|  |  | &nbsp;&nbsp; 37899545 |
| **Apparel Retail–0.50%** | **Apparel Retail–0.50%** | **Apparel Retail–0.50%** |
| Burlington Stores, Inc.<sup>(b)(c)</sup>  | 31477 | &nbsp;&nbsp; 8611792 |
| **Application Software–0.85%** | **Application Software–0.85%** | **Application Software–0.85%** |
| Datadog, Inc., Class A<sup>(b)</sup>  | 61452 | &nbsp;&nbsp; 10005000 |
| HubSpot, Inc.<sup>(b)</sup>  | 9208 | &nbsp;&nbsp; 4529599 |
|  |  | &nbsp;&nbsp; 14534599 |
| **Asset Management & Custody Banks–0.53%** | **Asset Management & Custody Banks–0.53%** | **Asset Management & Custody Banks–0.53%** |
| KKR & Co., Inc., Class A | 77005 | &nbsp;&nbsp; 9112002 |
| **Automobile Manufacturers–1.29%** | **Automobile Manufacturers–1.29%** | **Automobile Manufacturers–1.29%** |
| Tesla, Inc.<sup>(b)</sup>  | 48391 | &nbsp;&nbsp; 22093395 |
| **Automotive Retail–0.46%** | **Automotive Retail–0.46%** | **Automotive Retail–0.46%** |
| AutoNation, Inc.<sup>(b)</sup>  | 39186 | &nbsp;&nbsp; 7832106 |
| **Biotechnology–1.41%** | **Biotechnology–1.41%** | **Biotechnology–1.41%** |
| AbbVie, Inc. | 68123 | &nbsp;&nbsp; 14853539 |
| Ascendis Pharma A/S, ADR (Denmark)<sup>(b)</sup>  | 46169 | &nbsp;&nbsp; 9307670 |
|  |  | &nbsp;&nbsp; 24161209 |
| **Broadline Retail–4.76%** | **Broadline Retail–4.76%** | **Broadline Retail–4.76%** |
| Amazon.com, Inc.<sup>(b)</sup>  | 332782 | &nbsp;&nbsp; 81272020 |
| **Building Products–0.49%** | **Building Products–0.49%** | **Building Products–0.49%** |
| Lennox International, Inc. | 16722 | &nbsp;&nbsp; 8444610 |
| **Construction Materials–0.52%** | **Construction Materials–0.52%** | **Construction Materials–0.52%** |
| CRH PLC | 74178 | &nbsp;&nbsp; 8834600 |
| **Consumer Finance–1.80%** | **Consumer Finance–1.80%** | **Consumer Finance–1.80%** |
| American Express Co. | 50654 | &nbsp;&nbsp; 18272417 |
| Capital One Financial Corp. | 56600 | &nbsp;&nbsp; 12451434 |
|  |  | &nbsp;&nbsp; 30723851 |
| **Consumer Staples Merchandise Retail–1.60%** | **Consumer Staples Merchandise Retail–1.60%** | **Consumer Staples Merchandise Retail–1.60%** |
| Walmart, Inc. | 270238 | &nbsp;&nbsp; 27342681 |
| **Diversified Banks–2.98%** | **Diversified Banks–2.98%** | **Diversified Banks–2.98%** |
| JPMorgan Chase & Co. | 163864 | &nbsp;&nbsp; 50981368 |
| **Diversified Financial Services–0.46%** | **Diversified Financial Services–0.46%** | **Diversified Financial Services–0.46%** |
| Equitable Holdings, Inc. | 159947 | &nbsp;&nbsp; 7901382 |
| **Electric Utilities–1.93%** | **Electric Utilities–1.93%** | **Electric Utilities–1.93%** |
| Entergy Corp. | 166944 | &nbsp;&nbsp; 16041649 |
| PPL Corp. | 464784 | &nbsp;&nbsp; 16973912 |
|  |  | &nbsp;&nbsp; 33015561 |
| **Electrical Components & Equipment–3.03%** | **Electrical Components & Equipment–3.03%** | **Electrical Components & Equipment–3.03%** |
| Emerson Electric Co. | 108364 | &nbsp;&nbsp; 15124363 |
| Hubbell, Inc. | 23897 | &nbsp;&nbsp; 11231590 |
| Rockwell Automation, Inc. | 36742 | &nbsp;&nbsp; 13534283 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Electrical Components & Equipment–(continued)** | **Electrical Components & Equipment–(continued)** | **Electrical Components & Equipment–(continued)** |
| Vertiv Holdings Co., Class A | 61832 | &nbsp;&nbsp; $11924920 |
|  |  | &nbsp;&nbsp; 51815156 |
| **Environmental & Facilities Services–0.74%** | **Environmental & Facilities Services–0.74%** | **Environmental & Facilities Services–0.74%** |
| Casella Waste Systems, Inc., Class A<sup>(b)</sup>  | 143114 | &nbsp;&nbsp; 12675607 |
| **Financial Exchanges & Data–0.55%** | **Financial Exchanges & Data–0.55%** | **Financial Exchanges & Data–0.55%** |
| Cboe Global Markets, Inc. | 38364 | &nbsp;&nbsp; 9423733 |
| **Food Distributors–0.72%** | **Food Distributors–0.72%** | **Food Distributors–0.72%** |
| Sysco Corp. | 165656 | &nbsp;&nbsp; 12304928 |
| **Health Care Distributors–0.96%** | **Health Care Distributors–0.96%** | **Health Care Distributors–0.96%** |
| Cencora, Inc. | 48323 | &nbsp;&nbsp; 16323993 |
| **Health Care Equipment–1.73%** | **Health Care Equipment–1.73%** | **Health Care Equipment–1.73%** |
| Abbott Laboratories | 111681 | &nbsp;&nbsp; 13806005 |
| Boston Scientific Corp.<sup>(b)</sup>  | 156259 | &nbsp;&nbsp; 15738407 |
|  |  | &nbsp;&nbsp; 29544412 |
| **Health Care Facilities–0.86%** | **Health Care Facilities–0.86%** | **Health Care Facilities–0.86%** |
| Tenet Healthcare Corp.<sup>(b)</sup>  | 71171 | &nbsp;&nbsp; 14696100 |
| **Health Care REITs–0.74%** | **Health Care REITs–0.74%** | **Health Care REITs–0.74%** |
| Welltower, Inc. | 69401 | &nbsp;&nbsp; 12564357 |
| **Health Care Services–1.04%** | **Health Care Services–1.04%** | **Health Care Services–1.04%** |
| CVS Health Corp. | 227137 | &nbsp;&nbsp; 17750757 |
| **Home Improvement Retail–0.85%** | **Home Improvement Retail–0.85%** | **Home Improvement Retail–0.85%** |
| Lowe's Cos., Inc. | 60948 | &nbsp;&nbsp; 14513547 |
| **Homebuilding–0.58%** | **Homebuilding–0.58%** | **Homebuilding–0.58%** |
| D.R. Horton, Inc. | 66887 | &nbsp;&nbsp; 9971514 |
| **Hotels, Resorts & Cruise Lines–1.35%** | **Hotels, Resorts & Cruise Lines–1.35%** | **Hotels, Resorts & Cruise Lines–1.35%** |
| Royal Caribbean Cruises Ltd. | 45799 | &nbsp;&nbsp; 13136527 |
| Wyndham Hotels & Resorts, Inc.<sup>(c)</sup>  | 135310 | &nbsp;&nbsp; 9935813 |
|  |  | &nbsp;&nbsp; 23072340 |
| **Household Products–0.75%** | **Household Products–0.75%** | **Household Products–0.75%** |
| Colgate-Palmolive Co. | 167220 | &nbsp;&nbsp; 12884301 |
| **Industrial Machinery & Supplies & Components–1.38%** | **Industrial Machinery & Supplies & Components–1.38%** | **Industrial Machinery & Supplies & Components–1.38%** |
| Lincoln Electric Holdings, Inc. | 51186 | &nbsp;&nbsp; 12000558 |
| Parker-Hannifin Corp. | 14993 | &nbsp;&nbsp; 11587040 |
|  |  | &nbsp;&nbsp; 23587598 |
| **Industrial REITs–0.54%** | **Industrial REITs–0.54%** | **Industrial REITs–0.54%** |
| First Industrial Realty Trust, Inc. | 166952 | &nbsp;&nbsp; 9229107 |
| **Insurance Brokers–0.59%** | **Insurance Brokers–0.59%** | **Insurance Brokers–0.59%** |
| Arthur J. Gallagher & Co. | 40074 | &nbsp;&nbsp; 9998062 |
| **Integrated Oil & Gas–1.25%** | **Integrated Oil & Gas–1.25%** | **Integrated Oil & Gas–1.25%** |
| Chevron Corp. | 135316 | &nbsp;&nbsp; 21342039 |
| **Interactive Media & Services–10.93%** | **Interactive Media & Services–10.93%** | **Interactive Media & Services–10.93%** |
| Alphabet, Inc., Class A | 464304 | &nbsp;&nbsp; 130557642 |
| Meta Platforms, Inc., Class A | 86474 | &nbsp;&nbsp; 56065418 |
|  |  | &nbsp;&nbsp; 186623060 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Internet Services & Infrastructure–1.44%** | **Internet Services & Infrastructure–1.44%** | **Internet Services & Infrastructure–1.44%** |
| MongoDB, Inc.<sup>(b)</sup>  | 36622 | &nbsp;&nbsp; $13177328 |
| Snowflake, Inc., Class A<sup>(b)</sup>  | 41399 | &nbsp;&nbsp; 11379757 |
|  |  | &nbsp;&nbsp; 24557085 |
| **Investment Banking & Brokerage–2.14%** | **Investment Banking & Brokerage–2.14%** | **Investment Banking & Brokerage–2.14%** |
| Charles Schwab Corp. (The) | 232567 | &nbsp;&nbsp; 21982233 |
| Raymond James Financial, Inc. | 91528 | &nbsp;&nbsp; 14522748 |
|  |  | &nbsp;&nbsp; 36504981 |
| **IT Consulting & Other Services–0.48%** | **IT Consulting & Other Services–0.48%** | **IT Consulting & Other Services–0.48%** |
| Amdocs Ltd. | 97346 | &nbsp;&nbsp; 8202374 |
| **Life Sciences Tools & Services–1.26%** | **Life Sciences Tools & Services–1.26%** | **Life Sciences Tools & Services–1.26%** |
| Danaher Corp. | 59142 | &nbsp;&nbsp; 12738004 |
| Lonza Group AG (Switzerland) | 12822 | &nbsp;&nbsp; 8853995 |
|  |  | &nbsp;&nbsp; 21591999 |
| **Multi-Utilities–0.77%** | **Multi-Utilities–0.77%** | **Multi-Utilities–0.77%** |
| Ameren Corp. | 128658 | &nbsp;&nbsp; 13125689 |
| **Oil & Gas Exploration & Production–0.76%** | **Oil & Gas Exploration & Production–0.76%** | **Oil & Gas Exploration & Production–0.76%** |
| ConocoPhillips | 146429 | &nbsp;&nbsp; 13011681 |
| **Oil & Gas Storage & Transportation–0.67%** | **Oil & Gas Storage & Transportation–0.67%** | **Oil & Gas Storage & Transportation–0.67%** |
| Cheniere Energy, Inc. | 54227 | &nbsp;&nbsp; 11496124 |
| **Packaged Foods & Meats–0.47%** | **Packaged Foods & Meats–0.47%** | **Packaged Foods & Meats–0.47%** |
| McCormick & Co., Inc. | 124366 | &nbsp;&nbsp; 7979323 |
| **Passenger Ground Transportation–1.10%** | **Passenger Ground Transportation–1.10%** | **Passenger Ground Transportation–1.10%** |
| Uber Technologies, Inc.<sup>(b)</sup>  | 194309 | &nbsp;&nbsp; 18750818 |
| **Personal Care Products–0.49%** | **Personal Care Products–0.49%** | **Personal Care Products–0.49%** |
| BellRing Brands, Inc.<sup>(b)</sup>  | 275694 | &nbsp;&nbsp; 8306660 |
| **Pharmaceuticals–2.18%** | **Pharmaceuticals–2.18%** | **Pharmaceuticals–2.18%** |
| Eli Lilly and Co. | 28801 | &nbsp;&nbsp; 24851231 |
| Johnson & Johnson | 65819 | &nbsp;&nbsp; 12431234 |
|  |  | &nbsp;&nbsp; 37282465 |
| **Property & Casualty Insurance–1.50%** | **Property & Casualty Insurance–1.50%** | **Property & Casualty Insurance–1.50%** |
| American International Group, Inc. | 214024 | &nbsp;&nbsp; 16899335 |
| Hartford Insurance Group, Inc. (The) | 69910 | &nbsp;&nbsp; 8681424 |
|  |  | &nbsp;&nbsp; 25580759 |
| **Regional Banks–0.49%** | **Regional Banks–0.49%** | **Regional Banks–0.49%** |
| M&T Bank Corp. | 45530 | &nbsp;&nbsp; 8371601 |
| **Restaurants–0.56%** | **Restaurants–0.56%** | **Restaurants–0.56%** |
| Yum! Brands, Inc. | 69068 | &nbsp;&nbsp; 9545888 |
| **Retail REITs–0.47%** | **Retail REITs–0.47%** | **Retail REITs–0.47%** |
| Brixmor Property Group, Inc. | 305953 | &nbsp;&nbsp; 8003730 |
| **Semiconductor Materials & Equipment–1.19%** | **Semiconductor Materials & Equipment–1.19%** | **Semiconductor Materials & Equipment–1.19%** |
| ASML Holding N.V., New York Shares <br> (Netherlands) | 19166 | &nbsp;&nbsp; 20301202 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Value** |
| **Semiconductors–14.47%** | **Semiconductors–14.47%** | **Semiconductors–14.47%** | **Semiconductors–14.47%** |
| ARM Holdings PLC, ADR<sup>(b)(c)</sup>  | ARM Holdings PLC, ADR<sup>(b)(c)</sup>  | 52499 | &nbsp;&nbsp; $8915380 |
| Broadcom, Inc. | Broadcom, Inc. | 163426 | &nbsp;&nbsp; 60407153 |
| NVIDIA Corp. | NVIDIA Corp. | 801884 | &nbsp;&nbsp; 162373491 |
| Texas Instruments, Inc. | Texas Instruments, Inc. | 95289 | &nbsp;&nbsp; 15385362 |
|  |  |  | &nbsp;&nbsp; 247081386 |
| **Single-Family Residential REITs–0.47%** | **Single-Family Residential REITs–0.47%** | **Single-Family Residential REITs–0.47%** | **Single-Family Residential REITs–0.47%** |
| American Homes 4 Rent, Class A | American Homes 4 Rent, Class A | 251857 | &nbsp;&nbsp; 7958681 |
| **Specialty Chemicals–0.60%** | **Specialty Chemicals–0.60%** | **Specialty Chemicals–0.60%** | **Specialty Chemicals–0.60%** |
| DuPont de Nemours, Inc. | DuPont de Nemours, Inc. | 125897 | &nbsp;&nbsp; 10279490 |
| **Systems Software–8.78%** | **Systems Software–8.78%** | **Systems Software–8.78%** | **Systems Software–8.78%** |
| Microsoft Corp. | Microsoft Corp. | 249018 | &nbsp;&nbsp; 128944011 |
| Oracle Corp. | Oracle Corp. | 79720 | &nbsp;&nbsp; 20935269 |
|  |  |  | &nbsp;&nbsp; 149879280 |
| **Technology Hardware, Storage & Peripherals–5.66%** | **Technology Hardware, Storage & Peripherals–5.66%** | **Technology Hardware, Storage & Peripherals–5.66%** | **Technology Hardware, Storage & Peripherals–5.66%** |
| Apple, Inc. | Apple, Inc. | 357409 | &nbsp;&nbsp; 96632671 |
| **Tobacco–1.02%** | **Tobacco–1.02%** | **Tobacco–1.02%** | **Tobacco–1.02%** |
| Philip Morris International, Inc. | Philip Morris International, Inc. | 120675 | &nbsp;&nbsp; 17417023 |
| **Transaction & Payment Processing Services–1.54%** | **Transaction & Payment Processing Services–1.54%** | **Transaction & Payment Processing Services–1.54%** | **Transaction & Payment Processing Services–1.54%** |
| Mastercard, Inc., Class A | Mastercard, Inc., Class A | 47585 | &nbsp;&nbsp; 26266444 |
| Total Common Stocks & Other Equity Interests <br> (Cost $880,946,977) | Total Common Stocks & Other Equity Interests <br> (Cost $880,946,977) | Total Common Stocks & Other Equity Interests <br> (Cost $880,946,977) | &nbsp;&nbsp; 1689208686 |
| **Money Market Funds–0.42%** | **Money Market Funds–0.42%** | **Money Market Funds–0.42%** | **Money Market Funds–0.42%** |
| Invesco Government & Agency Portfolio, <br> Institutional Class, 4.06%<sup>(d)(e)</sup>  | Invesco Government & Agency Portfolio, <br> Institutional Class, 4.06%<sup>(d)(e)</sup>  | 2488091 | &nbsp;&nbsp; 2488091 |
| Invesco Treasury Portfolio, Institutional <br> Class, 3.96%<sup>(d)(e)</sup>  | Invesco Treasury Portfolio, Institutional <br> Class, 3.96%<sup>(d)(e)</sup>  | 4621004 | &nbsp;&nbsp; 4621004 |
| Total Money Market Funds (Cost $7,109,095) | Total Money Market Funds (Cost $7,109,095) | Total Money Market Funds (Cost $7,109,095) | &nbsp;&nbsp; 7109095 |
| TOTAL INVESTMENTS IN SECURITIES <br> (excluding investments purchased <br> with cash collateral from securities <br> on loan)-99.32% <br> (Cost $888,056,072)<br>|  |  | &nbsp;&nbsp; 1696317781 |
| **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** |
| **Money Market Funds–0.85%** | **Money Market Funds–0.85%** | **Money Market Funds–0.85%** | **Money Market Funds–0.85%** |
| Invesco Private Government Fund, <br> 4.13%<sup>(d)(e)(f)</sup>  | Invesco Private Government Fund, <br> 4.13%<sup>(d)(e)(f)</sup>  | 4047623 | &nbsp;&nbsp; 4047623 |
| Invesco Private Prime Fund, 4.30%<sup>(d)(e)(f)</sup>  | Invesco Private Prime Fund, 4.30%<sup>(d)(e)(f)</sup>  | 10515896 | &nbsp;&nbsp; 10519050 |
| Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $14,566,673) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $14,566,673) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $14,566,673) | &nbsp;&nbsp; 14566673 |
| TOTAL INVESTMENTS IN SECURITIES–100.17% <br> (Cost $902,622,745) | TOTAL INVESTMENTS IN SECURITIES–100.17% <br> (Cost $902,622,745) | TOTAL INVESTMENTS IN SECURITIES–100.17% <br> (Cost $902,622,745) | &nbsp;&nbsp; 1710884454 |
| OTHER ASSETS LESS LIABILITIES—(0.17)% | OTHER ASSETS LESS LIABILITIES—(0.17)% | OTHER ASSETS LESS LIABILITIES—(0.17)% | &nbsp;&nbsp; (2849879)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $1708034575 |

---

Investment Abbreviations:

ADR – American Depositary Receipt <br> REIT – Real Estate Investment Trust

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

Notes to Schedule of Investments:

<sup>(a)</sup> 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. 

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> All or a portion of this security was out on loan at October 31, 2025.

<sup>(d)</sup> Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the fiscal year ended October 31, 2025. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**October 31, 2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**October 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, <br> Institutional Class<br>| $4708128 | &nbsp;&nbsp; $80787407 | &nbsp;&nbsp; $(83007444) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $2488091 | &nbsp;&nbsp; $197277 |
| Invesco Treasury Portfolio, Institutional Class | 8743931 | &nbsp;&nbsp; 150033755 | &nbsp;&nbsp; (154156682) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 4621004 | &nbsp;&nbsp; 363010 |
| **Investments Purchased with Cash Collateral** <br> **from Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | 4159491 | &nbsp;&nbsp; 204395557 | &nbsp;&nbsp; (204507425) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 4047623 | &nbsp;&nbsp; 265,495\* |
| Invesco Private Prime Fund | 15532136 | &nbsp;&nbsp; 474950590 | &nbsp;&nbsp; (479966797) | &nbsp;&nbsp; 336 | &nbsp;&nbsp; 2785 | &nbsp;&nbsp; 10519050 | &nbsp;&nbsp; 715,114\* |
| Total | $33143686 | &nbsp;&nbsp; $910167309 | &nbsp;&nbsp; $(921638348) | &nbsp;&nbsp; $336 | &nbsp;&nbsp; $2785 | &nbsp;&nbsp; $21675768 | &nbsp;&nbsp; $1540896 |

---

\* Represents the income earned on the investment of cash collateral, which is included in securities lending income on the Statement of Operations. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any. 

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of October 31, 2025.

<sup>(f)</sup> 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. See Note 1J. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

**Statement of Assets and Liabilities**

*October 31, 2025*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $880,946,977)\*<br>| &nbsp;&nbsp; $1689208686 |
| Investments in affiliated money market funds, at value <br> (Cost $21,675,768)<br>| &nbsp;&nbsp; 21675768 |
| Cash | &nbsp;&nbsp; 500000 |
| Receivable for: |  |
| Investments sold | &nbsp;&nbsp; 17661062 |
| Fund shares sold | &nbsp;&nbsp; 705384 |
| Dividends | &nbsp;&nbsp; 776562 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 126931 |
| Other assets | &nbsp;&nbsp; 125851 |
| Total assets | &nbsp;&nbsp; 1730780244 |
| **Liabilities:** |  |
| Payable for: |  |
| Investments purchased | &nbsp;&nbsp; 6148450 |
| Fund shares reacquired | &nbsp;&nbsp; 1201427 |
| Collateral upon return of securities loaned | &nbsp;&nbsp; 14566673 |
| Accrued fees to affiliates | &nbsp;&nbsp; 625750 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 1547 |
| Accrued other operating expenses | &nbsp;&nbsp; 74891 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 126931 |
| Total liabilities | &nbsp;&nbsp; 22745669 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $1708034575 |
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $820857911 |
| Distributable earnings | &nbsp;&nbsp; 887176664 |
|  | &nbsp;&nbsp; $1708034575 |

---

---

| | |
|:---|:---|
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $1416627846 |
| Class C | &nbsp;&nbsp; $54773619 |
| Class R | &nbsp;&nbsp; $90710086 |
| Class Y | &nbsp;&nbsp; $129823279 |
| Class R5 | &nbsp;&nbsp; $14341 |
| Class R6 | &nbsp;&nbsp; $16085404 |
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 44414689 |
| Class C | &nbsp;&nbsp; 2078578 |
| Class R | &nbsp;&nbsp; 3010338 |
| Class Y | &nbsp;&nbsp; 3902881 |
| Class R5 | &nbsp;&nbsp; 446 |
| Class R6 | &nbsp;&nbsp; 499955 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $31.90 |
| Maximum offering price per share <br>(Net asset value of $31.90 ÷ 94.50%)<br>| &nbsp;&nbsp; $33.76 |
| Class C: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $26.35 |
| Class R: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $30.13 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $33.26 |
| Class R5: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $32.15 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $32.17 |

---

\* At October 31, 2025, securities with an aggregate value of $14,447,729 were on loan to brokers. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

**Statement of Operations**

*For the year ended October 31, 2025* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Dividends (net of foreign withholding taxes of $133,040) | &nbsp;&nbsp; $17039746 |
| Dividends from affiliated money market funds (includes net securities lending income of $35,775) | &nbsp;&nbsp; 596062 |
| Total investment income | &nbsp;&nbsp; 17635808 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 9829915 |
| Administrative services fees | &nbsp;&nbsp; 217735 |
| Custodian fees | &nbsp;&nbsp; 9731 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 3117649 |
| Class C | &nbsp;&nbsp; 507349 |
| Class R | &nbsp;&nbsp; 401880 |
| Transfer agent fees — A, C, R and Y | &nbsp;&nbsp; 1604462 |
| Transfer agent fees — R5 | &nbsp;&nbsp; 4 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 2520 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 32224 |
| Registration and filing fees | &nbsp;&nbsp; 108935 |
| Reports to shareholders | &nbsp;&nbsp; 73067 |
| Professional services fees | &nbsp;&nbsp; 79349 |
| Other | &nbsp;&nbsp; 32029 |
| Total expenses | &nbsp;&nbsp; 16016849 |
| Less: Fees waived and/or expense offset arrangement(s) | &nbsp;&nbsp; (79792)<br>|
| Net expenses | &nbsp;&nbsp; 15937057 |
| Net investment income | &nbsp;&nbsp; 1698751 |
| **Realized and unrealized gain from:** |  |
| Net realized gain from: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 84752768 |
| Affiliated investment securities | &nbsp;&nbsp; 2785 |
| Foreign currencies | &nbsp;&nbsp; 6909 |
|  | &nbsp;&nbsp; 84762462 |
| Change in net unrealized appreciation of: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 232131749 |
| Affiliated investment securities | &nbsp;&nbsp; 336 |
| Foreign currencies | &nbsp;&nbsp; 1175 |
|  | &nbsp;&nbsp; 232133260 |
| Net realized and unrealized gain | &nbsp;&nbsp; 316895722 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $318594473 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

**Statement of Changes in Net Assets**

*For the years ended October 31, 2025 and 2024* 

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $1698751 | &nbsp;&nbsp; $5309147 |
| Net realized gain | &nbsp;&nbsp; 84762462 | &nbsp;&nbsp; 131380561 |
| Change in net unrealized appreciation | &nbsp;&nbsp; 232133260 | &nbsp;&nbsp; 300241296 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 318594473 | &nbsp;&nbsp; 436931004 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (105988008)<br>| &nbsp;&nbsp; (42262173)<br>|
| Class C | &nbsp;&nbsp; (4820216)<br>| &nbsp;&nbsp; (2076262)<br>|
| Class R | &nbsp;&nbsp; (6632517)<br>| &nbsp;&nbsp; (2382864)<br>|
| Class Y | &nbsp;&nbsp; (7090170)<br>| &nbsp;&nbsp; (2738484)<br>|
| Class R5 | &nbsp;&nbsp; (1128)<br>| &nbsp;&nbsp; (452)<br>|
| Class R6 | &nbsp;&nbsp; (430463)<br>| &nbsp;&nbsp; (174708)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (124962502)<br>| &nbsp;&nbsp; (49634943)<br>|
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; 17097066 | &nbsp;&nbsp; (46984527)<br>|
| Class C | &nbsp;&nbsp; (273833)<br>| &nbsp;&nbsp; (4813691)<br>|
| Class R | &nbsp;&nbsp; 5992317 | &nbsp;&nbsp; 5499533 |
| Class Y | &nbsp;&nbsp; 31066435 | &nbsp;&nbsp; 3519242 |
| Class R6 | &nbsp;&nbsp; 9343042 | &nbsp;&nbsp; (285609)<br>|
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; 63225027 | &nbsp;&nbsp; (43065052)<br>|
| Net increase in net assets | &nbsp;&nbsp; 256856998 | &nbsp;&nbsp; 344231009 |
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 1451177577 | &nbsp;&nbsp; 1106946568 |
| End of year | &nbsp;&nbsp; $1708034575 | &nbsp;&nbsp; $1451177577 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**(loss)** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 10/31/25 | $28.29 | $0.04 | $6.02 | $6.06 | $(0.12)<br>| $(2.33)<br>| $(2.45)<br>| $31.90 | 22.70 %<sup>(d)</sup><br>| &nbsp;&nbsp; $1416628 | 1.03 %<sup>(d)</sup><br>| 1.03 %<sup>(d)</sup><br>| 0.12 %<sup>(d)</sup><br>| 44<br> %<br>|
| Year ended 10/31/24 | 20.98 | 0.11 | 8.14 | 8.25 | (0.06)<br>| (0.88)<br>| (0.94)<br>| 28.29 | 40.43 <br><sup>(d)</sup><br>| &nbsp;&nbsp; 1238070 | 1.03 <br><sup>(d)</sup><br>| 1.04 <br><sup>(d)</sup><br>| 0.43 <br><sup>(d)</sup><br>| 54 |
| Year ended 10/31/23 | 19.99 | 0.09 | 2.00 | 2.09 | (0.04)<br>| (1.06)<br>| (1.10)<br>| 20.98 | 11.05 <br><sup>(d)</sup><br>| &nbsp;&nbsp; 952567 | 1.06 <br><sup>(d)</sup><br>| 1.06 <br><sup>(d)</sup><br>| 0.41 <br><sup>(d)</sup><br>| 56 |
| Year ended 10/31/22 | 28.54 | 0.12 | (4.36)<br>| (4.24)<br>| (0.16)<br>| (4.15)<br>| (4.31)<br>| 19.99 | (17.59 )<sup>(d)</sup><br>| &nbsp;&nbsp; 929660 | 1.06 <br><sup>(d)</sup><br>| 1.06 <br><sup>(d)</sup><br>| 0.53 <br><sup>(d)</sup><br>| 45 |
| Year ended 10/31/21 | 20.45 | 0.05 | 8.25 | 8.30 | (0.11)<br>| (0.10)<br>| (0.21)<br>| 28.54 | 40.84 <br><sup>(d)</sup><br>| &nbsp;&nbsp; 1229595 | 1.07 <br><sup>(d)</sup><br>| 1.07 <br><sup>(d)</sup><br>| 0.18 <br><sup>(d)</sup><br>| 35 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 10/31/25 | 23.83 | (0.15)<br>| 5.00 | 4.85 |  | (2.33)<br>| (2.33)<br>| 26.35 | 21.74 | &nbsp;&nbsp; 54774 | 1.79 | 1.79 | (0.64)<br>| 44 |
| Year ended 10/31/24 | 17.90 | (0.07)<br>| 6.91 | 6.84 | (0.03)<br>| (0.88)<br>| (0.91)<br>| 23.83 | 39.41 | &nbsp;&nbsp; 50025 | 1.79 | 1.80 | (0.33)<br>| 54 |
| Year ended 10/31/23 | 17.30 | (0.06)<br>| 1.72 | 1.66 |  | (1.06)<br>| (1.06)<br>| 17.90 | 10.20 | &nbsp;&nbsp; 41279 | 1.82 | 1.82 | (0.35)<br>| 56 |
| Year ended 10/31/22 | 25.35 | (0.04)<br>| (3.80)<br>| (3.84)<br>| (0.06)<br>| (4.15)<br>| (4.21)<br>| 17.30 | (18.25)<br>| &nbsp;&nbsp; 41846 | 1.82 | 1.82 | (0.23)<br>| 45 |
| Year ended 10/31/21 | 18.31 | (0.13)<br>| 7.37 | 7.24 | (0.10)<br>| (0.10)<br>| (0.20)<br>| 25.35 | 39.78 | &nbsp;&nbsp; 60285 | 1.83 | 1.83 | (0.58)<br>| 35 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year ended 10/31/25 | 26.87 | (0.03)<br>| 5.68 | 5.65 | (0.06)<br>| (2.33)<br>| (2.39)<br>| 30.13 | 22.32 | &nbsp;&nbsp; 90710 | 1.29 | 1.29 | (0.14)<br>| 44 |
| Year ended 10/31/24 | 20.00 | 0.04 | 7.75 | 7.79 | (0.04)<br>| (0.88)<br>| (0.92)<br>| 26.87 | 40.06 | &nbsp;&nbsp; 74638 | 1.29 | 1.30 | 0.17 | 54 |
| Year ended 10/31/23 | 19.12 | 0.03 | 1.92 | 1.95 | (0.01)<br>| (1.06)<br>| (1.07)<br>| 20.00 | 10.81 | &nbsp;&nbsp; 50630 | 1.32 | 1.32 | 0.15 | 56 |
| Year ended 10/31/22 | 27.48 | 0.06 | (4.18)<br>| (4.12)<br>| (0.09)<br>| (4.15)<br>| (4.24)<br>| 19.12 | (17.82)<br>| &nbsp;&nbsp; 46688 | 1.32 | 1.32 | 0.27 | 45 |
| Year ended 10/31/21 | 19.74 | (0.02)<br>| 7.96 | 7.94 | (0.10)<br>| (0.10)<br>| (0.20)<br>| 27.48 | 40.47 | &nbsp;&nbsp; 59603 | 1.33 | 1.33 | (0.08)<br>| 35 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 10/31/25 | 29.40 | 0.11 | 6.26 | 6.37 | (0.18)<br>| (2.33)<br>| (2.51)<br>| 33.26 | 22.97 | &nbsp;&nbsp; 129823 | 0.79 | 0.79 | 0.36 | 44 |
| Year ended 10/31/24 | 21.77 | 0.18 | 8.44 | 8.62 | (0.11)<br>| (0.88)<br>| (0.99)<br>| 29.40 | 40.74 | &nbsp;&nbsp; 83589 | 0.79 | 0.80 | 0.67 | 54 |
| Year ended 10/31/23 | 20.70 | 0.14 | 2.09 | 2.23 | (0.10)<br>| (1.06)<br>| (1.16)<br>| 21.77 | 11.36 | &nbsp;&nbsp; 58642 | 0.82 | 0.82 | 0.65 | 56 |
| Year ended 10/31/22 | 29.41 | 0.18 | (4.52)<br>| (4.34)<br>| (0.22)<br>| (4.15)<br>| (4.37)<br>| 20.70 | (17.41)<br>| &nbsp;&nbsp; 57359 | 0.82 | 0.82 | 0.77 | 45 |
| Year ended 10/31/21 | 21.03 | 0.11 | 8.49 | 8.60 | (0.12)<br>| (0.10)<br>| (0.22)<br>| 29.41 | 41.15 | &nbsp;&nbsp; 71664 | 0.83 | 0.83 | 0.42 | 35 |
| **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** |
| Year ended 10/31/25 | 28.50 | 0.13 | 6.05 | 6.18 | (0.20)<br>| (2.33)<br>| (2.53)<br>| 32.15 | 23.05 | &nbsp;&nbsp; 14 | 0.71 | 0.71 | 0.44 | 44 |
| Year ended 10/31/24 | 21.12 | 0.19 | 8.20 | 8.39 | (0.13)<br>| (0.88)<br>| (1.01)<br>| 28.50 | 40.94 | &nbsp;&nbsp; 13 | 0.72 | 0.72 | 0.74 | 54 |
| Year ended 10/31/23 | 20.13 | 0.16 | 2.01 | 2.17 | (0.12)<br>| (1.06)<br>| (1.18)<br>| 21.12 | 11.42 | &nbsp;&nbsp; 9 | 0.73 | 0.73 | 0.74 | 56 |
| Year ended 10/31/22 | 28.72 | 0.20 | (4.39)<br>| (4.19)<br>| (0.25)<br>| (4.15)<br>| (4.40)<br>| 20.13 | (17.32)<br>| &nbsp;&nbsp; 9 | 0.72 | 0.72 | 0.87 | 45 |
| Year ended 10/31/21 | 20.53 | 0.13 | 8.28 | 8.41 | (0.12)<br>| (0.10)<br>| (0.22)<br>| 28.72 | 41.24 | &nbsp;&nbsp; 13 | 0.73 | 0.73 | 0.52 | 35 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 10/31/25 | 28.51 | 0.13 | 6.06 | 6.19 | (0.20)<br>| (2.33)<br>| (2.53)<br>| 32.17 | 23.07 | &nbsp;&nbsp; 16085 | 0.71 | 0.71 | 0.44 | 44 |
| Year ended 10/31/24 | 21.14 | 0.19 | 8.19 | 8.38 | (0.13)<br>| (0.88)<br>| (1.01)<br>| 28.51 | 40.85 | &nbsp;&nbsp; 4843 | 0.72 | 0.72 | 0.74 | 54 |
| Year ended 10/31/23 | 20.14 | 0.16 | 2.02 | 2.18 | (0.12)<br>| (1.06)<br>| (1.18)<br>| 21.14 | 11.46 | &nbsp;&nbsp; 3819 | 0.73 | 0.73 | 0.74 | 56 |
| Year ended 10/31/22 | 28.74 | 0.20 | (4.40)<br>| (4.20)<br>| (0.25)<br>| (4.15)<br>| (4.40)<br>| 20.14 | (17.35)<br>| &nbsp;&nbsp; 2875 | 0.72 | 0.72 | 0.87 | 45 |
| Year ended 10/31/21 | 20.53 | 0.14 | 8.29 | 8.43 | (0.12)<br>| (0.10)<br>| (0.22)<br>| 28.74 | 41.34 | &nbsp;&nbsp; 3309 | 0.73 | 0.73 | 0.52 | 35 |

---

<sup>(a)</sup> Calculated using average shares outstanding.

<sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable. 

<sup>(c)</sup> Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.

<sup>(d)</sup> The total return, ratios of expenses to average net assets and ratio of net investment income (loss) to average net assets reflect actual 12b-1 fees of 0.24% for the years ended ended October 31, 2025, 2024, 2023, 2022 and 2021, respectively. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**8**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

**Notes to Financial Statements**

*October 31, 2025*

**NOTE 1—Significant Accounting Policies**

Invesco Main Street All Cap Fund<sup>®</sup> (the "Fund") is a series portfolio of AIM Equity Funds (Invesco Equity Funds) (the "Trust"). The Trust is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's investment objective is to seek capital appreciation.

The Fund currently consists of six different classes of shares: Class A, Class C, Class R, Class Y, Class R5 and Class R6. Class Y shares are available only to certain investors. Class A shares are sold with a front-end sales charge unless certain waiver criteria are met. Under certain circumstances, load waived shares may be subject to contingent deferred sales charges ("CDSC"). Class C shares are sold with a CDSC. Class R, Class Y, Class R5 and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Class A shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

Class R5 shares are closed to new investors.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

**A.** **Security Valuations** — Securities, including restricted securities, are valued according to the following policy.

A security listed or traded on an exchange is generally valued at its trade price or official closing price that day as of the close of the exchange where the security is principally traded, or lacking any trades or official closing price on a particular day, the security may be valued at the closing bid or ask price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued using prices provided by an independent pricing service they may be considered fair valued. Futures contracts are valued at the daily settlement price set by an exchange on which they are principally traded. Where a final settlement price exists, exchange-traded options are valued at the final settlement price from the exchange where the option principally trades. Where a final settlement price does not exist, exchange-traded options are valued at the mean between the last bid and ask price generally from the exchange where the option principally trades.

Securities of investment companies that are not exchange-traded (e.g., open-end mutual funds) are valued using such company's end-of-business-day net asset value per share.

Deposits, other obligations of U.S. and non-U.S. banks and financial institutions are valued at their daily account value.

Fixed income securities (including convertible debt securities) generally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots, and their value may be adjusted accordingly. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

Foreign securities' (including foreign exchange contracts) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the New York Stock Exchange ("NYSE"). If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Invesco Advisers, Inc. (the "Adviser" or "Invesco") may use various pricing services to obtain market quotations as well as fair value prices. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become not representative of market value in the Adviser's judgment ("unreliable"). If, between the time trading ends on a particular security and the close of the customary trading session on the NYSE, a significant event occurs that makes the closing price of the security unreliable, the Adviser may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith in accordance with Board- approved policies and related Adviser procedures ("Valuation Procedures"). Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities' prices meeting the degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.

Unlisted securities will be valued using prices provided by independent pricing services or by another method that the Adviser, in its judgment, believes better reflects the security's fair value in accordance with the Valuation Procedures.

Non-traded rights and warrants shall be valued at intrinsic value if the terms of the rights and warrants are available, specifically the subscription or exercise price and the ratio. Intrinsic value is calculated as the daily market closing price of the security to be received less the subscription price, which is then adjusted by the exercise ratio. In the case of warrants, an option pricing model supplied by an independent pricing service may be used based on market data such as volatility, stock price and interest rate from the independent pricing service and strike price and exercise period from verified terms.

Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The mean between the last bid and ask prices may be used to value debt obligations, including corporate loans.

Securities for which market quotations are not readily available are fair valued by the Adviser in accordance with the Valuation Procedures. If a fair value price provided by a pricing service is unreliable, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer's assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises, economic sanctions and tariffs, significant governmental actions or adverse investor sentiment generally and market liquidity. 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.

**9**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

The price the Fund could receive upon the sale of any investment may differ from the Adviser's valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Fund securities that are fair valued may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used. Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, the Fund could realize a greater or lesser than expected gain or loss upon the sale of the investment.

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date.

The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class.

**C.** **Country Determination** — For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

**D.** **Distributions** – Distributions from net investment income and net realized capital gain, if any, are generally declared and paid annually and recorded on the ex-dividend date. The Fund may elect to treat a portion of the proceeds from redemptions as distributions for federal income tax purposes.

**E.** **Federal Income Taxes –** The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

**F.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R5 and Class R6 are allocated based on relative net assets of Class R5 and Class R6. Sub-accounting fees attributable to Class R5 are charged to the operations of the class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative net assets.

**G.** **Accounting Estimates** – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** – Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole, thereby enabling better understanding of how an entity's segments impact overall performance. The Fund represents a single operating segment. Subject to the oversight and, when applicable, approval of the Board of Trustees, the Adviser acts as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements. Adoption of the new standard impacted the Fund's financial statement notes disclosures only and did not affect the Fund's financial position or the results of its operations.

**J.** **Securities Lending** – The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the 1940 Act and money market funds (collectively, "affiliated money market funds") and is shown as such on the Schedule of Investments. The Fund bears the risk of loss with respect to the investment of collateral. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When

**10**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

loaning securities, the Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to the Fund if, and to the extent that, the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or the Fund. Upon termination, the borrower will return to the Fund the securities loaned and the Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to the Fund. Some of these losses may be indemnified by the lending agent. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in *Dividends from affiliated money market funds* on the Statement of Operations. The aggregate value of securities out on loan, if any, is shown as a footnote on the Statement of Assets and Liabilities.

The Adviser serves as an affiliated securities lending agent for the Fund. The Bank of New York Mellon also serves as a securities lending agent. To the extent the Fund utilizes the Adviser as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the year ended October 31, 2025, the Fund paid the Adviser $3,165 in fees for securities lending agent services. Fees paid to the Adviser for securities lending agent services, if any, are included in *Dividends from affiliated money market funds* on the Statement of Operations.

**K.** **Foreign Currency Translations** — Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. 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.

**L.** **Forward Foreign Currency Contracts** — The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate\*** |
| First $200 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.750% |
| Next $200 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.720% |
| Next $200 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.690% |
| Next $200 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.660% |
| Next $4.2 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.600% |
| Over $5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.580% |

---

\* The advisory fee paid by the Fund shall be reduced by any amounts paid by the Fund under the administrative services agreement with the Adviser.

For the year ended October 31, 2025, the effective advisory fee rate incurred by the Fund was 0.64%.

Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory agreement with Invesco Capital Management LLC (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to

**11**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Affiliated Sub-Adviser(s). Invesco has also entered into a sub-advisory agreement with OppenheimerFunds, Inc. to provide discretionary management services to the Fund.

The Adviser has agreed, for an indefinite period, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class R, Class Y, Class R5 and Class R6 shares to 2.00%, 2.75%, 2.25%, 1.75%, 1.75% and 1.75%, respectively, of the Fund's average daily net assets (the "boundary limits"). In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Invesco may amend and/or terminate these boundary limits at any time in its sole discretion and will inform the Board of Trustees of any such changes. The Adviser did not waive fees and/or reimburse expenses during the period under these boundary limits.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from the affiliated money market funds on investments by the Fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds.

For the year ended October 31, 2025, the Adviser waived advisory fees of $15,524.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended October 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended October 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Class A, Class C, Class R, Class Y, Class R5 and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A, Class C and Class R shares (collectively, the "Plans"). The Fund, pursuant to the Class A Plan, reimburses IDI for its allocated share of expenses incurred for the period, up to a maximum annual rate of 0.25% of the average daily net assets of Class A shares. The Fund, pursuant to the Class C and Class R Plans, pays IDI compensation at the annual rate of 1.00% of the average daily net assets of Class C shares and 0.50% of the average daily net assets of Class R shares. The fees are accrued daily and paid monthly. Of the Plans payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended October 31, 2025, expenses incurred under the Plans are shown in the Statement of Operations as *Distribution fees*.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended October 31, 2025, IDI advised the Fund that IDI retained $107,300 in front-end sales commissions from the sale of Class A shares and $2,703 and $2,245 from Class A and Class C shares, respectively, for CDSC imposed upon redemptions by shareholders.

For the year ended October 31, 2025, the Fund incurred $3,668 in brokerage commissions with Invesco Capital Markets, Inc., an affiliate of the Adviser and IDI, for portfolio transactions executed on behalf of the Fund.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

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. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.

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 Adviser'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 October 31, 2025. 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** |
| <br>**Investments in Securities** |  |  |  |  |
| Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;&nbsp; $1671094716 | &nbsp;&nbsp;&nbsp;&nbsp; $18113970 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1689208686 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 7109095 | &nbsp;&nbsp;&nbsp;&nbsp; 14566673 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21675768 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $1678203811 | &nbsp;&nbsp;&nbsp;&nbsp; $32680643 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1710884454 |

---

**12**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

**NOTE 4—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended October 31, 2025, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $64,268.

**NOTE 5—Trustees' and Officers' Fees and Benefits**

*Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and *Trustees' and Officers' Fees and Benefits* also include amounts accrued by the Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Finally, certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Fund may have certain former Trustees who also participate in a retirement plan and receive benefits under such plan. *Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Fund.

**NOTE 6—Cash Balances**

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

**NOTE 7—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** |
|  | **2025** | **2024** |
| Ordinary income\* | &nbsp;&nbsp; $27056947 | &nbsp;&nbsp;&nbsp;&nbsp; $10481915 |
| Long-term capital gain | &nbsp;&nbsp; 97905555 | &nbsp;&nbsp;&nbsp;&nbsp; 39153028 |
| Total distributions | &nbsp;&nbsp; $124962502 | &nbsp;&nbsp;&nbsp;&nbsp; $49634943 |

---

\* Includes short-term capital gain distributions, if any.

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2025** |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp; $12253936 |
| Undistributed long-term capital gain | &nbsp;&nbsp;&nbsp;&nbsp; 68316903 |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; 806718711 |
| Net unrealized appreciation — foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; 1666 |
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (114552)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 820857911 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $1708034575 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to wash sales.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund does not have a capital loss carryforward as of October 31, 2025.

**NOTE 8—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended October 31, 2025 was $665,737,403 and $725,373,921, respectively. As of October 31, 2025, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $822766068 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (16047357)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $806718711 |

---

Cost of investments for tax purposes is $904,165,743.

**13**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

**NOTE 9—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of equalization, on October 31, 2025, undistributed net investment income was increased by $6,909, undistributed net realized gain was decreased by $5,557,908 and shares of beneficial interest was increased by $5,550,999. This reclassification had no effect on the net assets of the Fund.

**NOTE 10—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**October 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**October 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**October 31, 2024** | **Year ended** <br>**October 31, 2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 2662306 | &nbsp;&nbsp;&nbsp; $75192627 | &nbsp;&nbsp;&nbsp; 2408510 | &nbsp;&nbsp;&nbsp; $60829091 |
| Class C | &nbsp;&nbsp;&nbsp; 452617 | &nbsp;&nbsp;&nbsp; 10522908 | &nbsp;&nbsp;&nbsp; 378021 | &nbsp;&nbsp;&nbsp; 8104105 |
| Class R | &nbsp;&nbsp;&nbsp; 598505 | &nbsp;&nbsp;&nbsp; 15927537 | &nbsp;&nbsp;&nbsp; 627011 | &nbsp;&nbsp;&nbsp; 15049370 |
| Class Y | &nbsp;&nbsp;&nbsp; 2072490 | &nbsp;&nbsp;&nbsp; 60750756 | &nbsp;&nbsp;&nbsp; 663697 | &nbsp;&nbsp;&nbsp; 17408713 |
| Class R6 | &nbsp;&nbsp;&nbsp; 377053 | &nbsp;&nbsp;&nbsp; 10686412 | &nbsp;&nbsp;&nbsp; 67873 | &nbsp;&nbsp;&nbsp; 1747346 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 3672211 | &nbsp;&nbsp;&nbsp; 101756368 | &nbsp;&nbsp;&nbsp; 1786194 | &nbsp;&nbsp;&nbsp; 40661420 |
| Class C | &nbsp;&nbsp;&nbsp; 206889 | &nbsp;&nbsp;&nbsp; 4766730 | &nbsp;&nbsp;&nbsp; 106344 | &nbsp;&nbsp;&nbsp; 2052285 |
| Class R | &nbsp;&nbsp;&nbsp; 251551 | &nbsp;&nbsp;&nbsp; 6600692 | &nbsp;&nbsp;&nbsp; 109549 | &nbsp;&nbsp;&nbsp; 2375518 |
| Class Y | &nbsp;&nbsp;&nbsp; 208266 | &nbsp;&nbsp;&nbsp; 6004307 | &nbsp;&nbsp;&nbsp; 96147 | &nbsp;&nbsp;&nbsp; 2269129 |
| Class R6 | &nbsp;&nbsp;&nbsp; 13680 | &nbsp;&nbsp;&nbsp; 381266 | &nbsp;&nbsp;&nbsp; 7081 | &nbsp;&nbsp;&nbsp; 161895 |
| **Automatic conversion of Class C shares to Class A shares:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 214132 | &nbsp;&nbsp;&nbsp; 6016223 | &nbsp;&nbsp;&nbsp; 219274 | &nbsp;&nbsp;&nbsp; 5621783 |
| Class C | &nbsp;&nbsp;&nbsp; (257848)<br>| &nbsp;&nbsp;&nbsp; (6016223)<br>| &nbsp;&nbsp;&nbsp; (259264)<br>| &nbsp;&nbsp;&nbsp; (5621783)<br>|
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (5890044)<br>| &nbsp;&nbsp;&nbsp; (165868152)<br>| &nbsp;&nbsp;&nbsp; (6059481)<br>| &nbsp;&nbsp;&nbsp; (154096821)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (422153)<br>| &nbsp;&nbsp;&nbsp; (9547248)<br>| &nbsp;&nbsp;&nbsp; (431473)<br>| &nbsp;&nbsp;&nbsp; (9348298)<br>|
| Class R | &nbsp;&nbsp;&nbsp; (617679)<br>| &nbsp;&nbsp;&nbsp; (16535912)<br>| &nbsp;&nbsp;&nbsp; (490574)<br>| &nbsp;&nbsp;&nbsp; (11925355)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (1220687)<br>| &nbsp;&nbsp;&nbsp; (35688628)<br>| &nbsp;&nbsp;&nbsp; (611138)<br>| &nbsp;&nbsp;&nbsp; (16158600)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (60622)<br>| &nbsp;&nbsp;&nbsp; (1724636)<br>| &nbsp;&nbsp;&nbsp; (85771)<br>| &nbsp;&nbsp;&nbsp; (2194850)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; 2260667 | &nbsp;&nbsp;&nbsp; $63225027 | &nbsp;&nbsp;&nbsp; (1468000)<br>| &nbsp;&nbsp;&nbsp; $(43065052)<br>|

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 11% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**14**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Equity Funds (Invesco Equity Funds) and Shareholders of Invesco Main Street All Cap Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Main Street All Cap Fund (one of the funds constituting AIM Equity Funds (Invesco Equity Funds), referred to hereafter as the "Fund") as of October 31, 2025, the related statement of operations for the year ended October 31, 2025, the statement of changes in net assets for each of the two years in the period ended October 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2025 and the financial highlights for each of the five years in the period ended October 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2025 by correspondence with the custodian, transfer agent and brokers. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

December 18, 2025

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**15**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

**Approval of Investment Advisory and Sub-Advisory Contracts** 

At meetings held on June 16, 2025, the Board of Trustees (the Board or the Trustees) of AIM Equity Funds (Invesco Equity Funds) as a whole, and the independent Trustees, who comprise over 75% of the Board, voting separately, approved the continuance of the Invesco Main Street All Cap Fund's<sup>®</sup> (the Fund) Master Investment Advisory Agreement with Invesco Advisers, Inc. (Invesco Advisers and the investment advisory agreement) and the Master Intergroup Sub-Advisory Contract for Mutual Funds with Invesco Asset Management Deutschland GmbH\*, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and separate sub-advisory contracts with Invesco Capital Management LLC and OppenheimerFunds, Inc. (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2025. After evaluating the factors discussed below, among others, the Board approved the renewal of the Fund's investment advisory agreement and the sub-advisory contracts and determined that the compensation payable thereunder by the Fund to Invesco Advisers and by Invesco Advisers to the Affiliated Sub-Advisers is fair and reasonable.

**The Board's Evaluation Process**

The Board has established an Investments Committee, which in turn has established Sub-Committees. The Sub-Committees meet regularly throughout the year with portfolio managers and other members of management to review information about the investment performance and portfolio attributes for those funds advised by Invesco Advisers (Invesco Funds) assigned to them. The Board has established additional standing and ad hoc committees that meet throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the Board's annual review process for the Invesco Funds' investment advisory agreement and sub-advisory contracts (the annual review process). In considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts, the Board took into account evaluations and reports that it received from its committees and sub-committees, as well as the information provided to the Board and its committees and sub-committees throughout the year.

As part of the annual review process, the Board reviews and considers information provided in response to requests for information submitted to management by the independent Trustees with assistance from legal counsel to the independent Trustees (independent legal counsel) and the Senior Officer, an officer of the Invesco Funds who reports directly to the independent Trustees. The Board receives comparative investment performance and fee and expense data regarding the Invesco Funds prepared by Broadridge Financial Solutions, Inc. (Broadridge), an independent provider of investment company data, as well as information on the composition of the peer groups and its methodology for determining peer groups. The Board also receives an independent written evaluation from the Senior Officer. The Senior Officer's evaluation is prepared as

part of his responsibility to manage the process by which the Invesco Funds' proposed management fees are negotiated during the annual review process to ensure they are negotiated in a manner that is at arms' length and reasonable in accordance with certain negotiated regulatory requirements. In addition to meetings with Invesco Advisers and fund counsel throughout the year and as part of meetings convened on May 6, 2025 and June 16-18, 2025, the independent Trustees also discussed the continuance of the investment advisory agreement and sub-advisory contracts in separate sessions with the Senior Officer and with independent legal counsel.

The discussion below includes summary information drawn in part from the Senior Officer's independent written evaluation with respect to the Fund's investment advisory agreement and sub-advisory contracts, as well as a discussion of the material factors and related conclusions that formed the basis for the Board's approval of the Fund's investment advisory agreement and sub-advisory contracts. The Trustees' review and conclusions are based on the comprehensive consideration of all information presented to them during the course of the year and are not the result of any single determinative factor. Moreover, one Trustee may have weighed a particular piece of information or factor differently than another Trustee.

**Factors and Conclusions and Summary of Independent Written Fee Evaluation**

*A.* *Nature, Extent and Quality of Services Provided by Invesco Advisers and the Affiliated Sub-Advisers*

The Board reviewed the nature, extent and quality of the advisory services provided to the Fund by Invesco Advisers under the Fund's investment advisory agreement, and the credentials and experience of the officers and employees of Invesco Advisers who provide these services, including the Fund's portfolio manager(s). The Board's review included consideration of Invesco Advisers' investment process and oversight, credit analysis, and research capabilities. The Board considered information regarding Invesco Advisers' programs for and resources devoted to risk management, including management of investment, enterprise, operational, liquidity, derivatives, valuation and compliance risks, and technology used to manage such risks. The Board received information regarding Invesco's methodology for compensating its investment professionals and the incentives and accountability it creates, as well as how it impacts Invesco's ability to attract and retain talent. The Board considered that Invesco Advisers has shown the willingness to commit resources to support investment in the business and to remain well-positioned to serve Fund shareholders including with regard to attracting and retaining qualified personnel on its investment teams and investing in technology. The Board received a description of, and reports related to, Invesco Advisers' global security program and business continuity plans and of its approach to data privacy and cybersecurity, including related testing. The Board also considered non-advisory services that Invesco Advisers and its affiliates provide to the Invesco Funds, such as various middle office and back office support functions, third party oversight,

internal audit, valuation, portfolio trading and legal and compliance. The Board considered Invesco Advisers' systems preparedness and ongoing investment to seek to manage, operate and oversee the Invesco Funds with minimal impact or disruption through challenging environments. The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in running an investment management business, as well as its commitment of financial and other resources to such business. The Board concluded that the nature, extent and quality of the services provided to the Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

The Board reviewed the services that may be provided to the Fund by the Affiliated Sub-Advisers under the sub-advisory contracts and the credentials and experience of the officers and employees of the Affiliated Sub-Advisers who provide these services. The Board noted the Affiliated Sub-Advisers' expertise with respect to certain asset classes and that the Affiliated Sub-Advisers have offices and personnel that are located in financial centers around the world. As a result, the Board noted that the Affiliated Sub-Advisers can provide research and investment analysis on the markets and economies of various countries and territories in which the Fund may invest, make recommendations regarding securities and assist with portfolio trading. The Board concluded that the sub-advisory contracts may benefit the Fund and its shareholders by permitting Invesco Advisers to use the resources and talents of the Affiliated Sub-Advisers in managing the Fund. The Board concluded that the nature, extent and quality of the services that may be provided to the Fund by the Affiliated Sub-Advisers supported the renewal of the sub-advisory contracts.

*B.* *Fund Investment Performance*

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement. The Board did not view Fund investment performance as a relevant factor in considering whether to approve the sub-advisory contracts for the Fund, as no Affiliated Sub-Adviser currently manages assets of the Fund.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the Russell 3000® Index (Index). The Board noted that performance of Class A shares of the Fund was in the first quintile of its performance universe for the one year period and the second quintile for the three and five year periods (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Class A shares of the Fund was above the performance of the Index for the one year period and reasonably comparable to the performance of the Index for the three and five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed

**16**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

more recent Fund performance as well as other performance metrics, which did not change its conclusions.

*C.* *Advisory and Sub-Advisory Fees and Fund Expenses*

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Class A shares of the Fund were each reasonably comparable to the median contractual management and actual management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board noted that the Fund's total expense ratio was in the fourth quintile of its expense group and discussed with management reasons for such relative total expenses.

The Board noted that Invesco Advisers has voluntarily agreed to waive fees and/or limit expenses of the Fund for an indefinite period until further notice to the Board in an amount necessary to limit total annual operating expenses to a specified percentage of average daily net assets for each class of the Fund.

The Board noted that Invesco Advisers and the Affiliated Sub-Advisers do not manage other similarly managed mutual funds or client accounts.

The Board also considered the services that may be provided by the Affiliated Sub-Advisers pursuant to the sub-advisory contracts, as well as the fees payable by Invesco Advisers to the Affiliated Sub-Advisers pursuant to the sub-advisory contracts.

*D.* *Economies of Scale and Breakpoints*

The Board considered the extent to which there may be economies of scale in the provision of advisory services to the Fund and the Invesco Funds, and the extent to which such economies of scale are shared with the Fund and the Invesco Funds. The Board acknowledged the limitations in calculating and measuring economies of scale at the individual fund level, noting that only indicative and estimated measures are available at the individual fund level and that such measures are subject to uncertainty. The Board considered that the Fund benefits from economies of scale through contractual breakpoints in the Fund's advisory fee schedule, which generally operate to reduce the Fund's expense ratio as it grows in size. The Board noted that the Fund also shares in economies of scale through Invesco Advisers' ability to negotiate lower fee arrangements with third party service providers. The Board noted that the Fund may also benefit from economies of scale through initial fee setting, fee waivers and expense reimbursements, as well as Invesco Advisers'

management of significant assets and investment in its business, including investments in business infrastructure, technology and cybersecurity.

*E.* *Profitability and Financial Resources*

The Board reviewed information from Invesco Advisers concerning the costs of the advisory and other services that Invesco Advisers and its affiliates provide to the Fund and the Invesco Funds and the profitability of Invesco Advisers and its affiliates in providing these services in the aggregate and on an individual fund-by-fund basis. The Board considered the methodology used for calculating profitability and the periodic review and enhancement of such methodology. The Board noted that Invesco Advisers continues to operate at a net profit from services Invesco Advisers and its affiliates provide to the Invesco Funds in the aggregate and to most Invesco Funds individually. The Board considered that profits to Invesco Advisers can vary significantly depending on the particular Invesco Fund, with some Invesco Funds showing indicative losses to Invesco Advisers and others showing indicative profits at healthy levels, and that Invesco Advisers' support for and commitment to an Invesco Fund are not, however, solely dependent on the profits attributed to such Fund. The Board did not deem the level of profits realized by Invesco Advisers and its affiliates from providing such services to be excessive, given the nature, extent and quality of the services provided. The Board noted that Invesco Advisers provided information demonstrating that Invesco Advisers is financially sound and has the resources necessary to perform its obligations under the investment advisory agreement, and provided representations indicating that the Affiliated Sub-Advisers are financially sound and have the resources necessary to perform their obligations under the sub-advisory contracts. The Board noted the cyclical and competitive nature of the global asset management industry.

*F.* *Collateral Benefits to Invesco Advisers and its Affiliates*

The Board considered various other benefits received by Invesco Advisers and its affiliates from the relationship with the Fund, including the fees received for providing administrative, transfer agency and distribution services to the Fund. The Board received comparative information regarding fees charged for these services, including information provided by Broadridge and other independent sources. The Board reviewed the performance of Invesco Advisers and its affiliates in providing these services and the organizational structure employed to provide these services. The Board noted that these services are provided to the Fund pursuant to written contracts that are reviewed and subject to approval on an annual basis by the Board based on its reasonable business judgement and in accordance with applicable regulatory guidance.

The Board considered the benefits realized by Invesco Advisers and the Affiliated Sub-Advisers as a result of portfolio brokerage transactions executed through "soft dollar" arrangements. The Board noted that soft dollar arrangements may result in the Fund bearing costs to purchase research that may be used by Invesco Advisers or the Affiliated Sub-Advisers with other clients and may reduce Invesco Advisers' or the Affiliated Sub-Advisers' expenses. The Board also considered that it receives from Invesco Advisers periodic reports that include a representation to the effect that these arrangements are consistent with

regulatory requirements. The Board did not deem the soft dollar arrangements to be inappropriate.

The Board considered that the Fund's uninvested cash and cash collateral from any securities lending arrangements may be invested in registered money market funds or, with regard to securities lending cash collateral, unregistered funds that comply with Rule 2a-7 under the Investment Company Act of 1940 (collectively referred to as "affiliated money market funds") advised by Invesco Advisers. The Board considered information regarding the returns of the affiliated money market funds relative to comparable overnight investments, as well as the fees paid by the affiliated money market funds to Invesco Advisers and its affiliates. In this regard, the Board noted that Invesco Advisers receives advisory fees from these affiliated money market funds attributable to the Fund's investments. The Board also noted that Invesco Advisers has contractually agreed to waive through varying periods an amount equal to 100% of the net advisory fee Invesco Advisers receives from the affiliated money market funds with respect to the Fund's investment in the affiliated money market funds of uninvested cash, but not cash collateral. The Board concluded that the advisory fees payable to Invesco Advisers from the Fund's investment of cash collateral from any securities lending arrangements in the affiliated money market funds are for services that are not duplicative of services provided by Invesco Advisers to the Fund.

The Board considered that Invesco Advisers may serve as the Fund's affiliated securities lending agent and evaluated the benefits realized by Invesco Advisers when serving in such role, including the compensation received. The Board considered Invesco Advisers' securities lending platform and corporate governance structure for securities lending, including Invesco Advisers' Securities Lending Governance Committee and its related responsibilities. The Board noted that to the extent the Fund utilizes Invesco Advisers as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services without obtaining exemptive relief. The Board considered information provided by Invesco Advisers related to the performance of Invesco Advisers as securities lending agent, including a summary of the securities lending services provided to the Fund by Invesco Advisers and the compensation paid to Invesco Advisers for such services, as well as any revenues generated for the Fund in connection with such securities lending activity and the allocation of such revenue between the Fund and Invesco Advisers.

The Board also received information about commissions that an affiliated broker may receive for executing certain trades for the Fund. Invesco Advisers and the Affiliated Sub-Advisers advised the Board of the benefits to the Fund of executing trades through the affiliated broker and that such trades were executed in compliance with rules under the federal securities laws and consistent with best execution obligations.

\* Effective as of August 29, 2025, Invesco Asset Management Deutschland GmbH merged into Invesco Management S.A.

**17**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended October 31, 2025:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Long-Term Capital Gain Distributions | &nbsp;&nbsp; $103456555 |
| Qualified Dividend Income\* | &nbsp;&nbsp; 65.46% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 63.69% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 0.00% |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 0.00% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

---

| | |
|:---|:---|
| **Non-Resident Alien Shareholders** |  |
| Short-Term Capital Gain Distributions | &nbsp;&nbsp; $21303154 |

---

**18**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

The statement regarding basis for approval of investment advisory contracts can be found in the Approval of Investment Advisory and Sub-Advisory Contracts section of this report.

**19**

**Invesco Main Street All Cap Fund**<sup>®</sup>

------

![](img0ad3a0d41.jpg)

SEC file number(s): 811-01424 and 002-25469

Invesco Distributors, Inc.

O-MSA-NCSR

------

![](img220a97f61.jpg)

------

**Annual Financial Statements and Other Information**

**October 31, 2025**

**Invesco Main Street Fund**<sup>®</sup>

Nasdaq:

A: MSIGX ■ C: MIGCX ■ R: OMGNX ■ Y: MIGYX ■ R5: MSJFX ■ R6: OMSIX

------

---

| | |
|:---|:---|
| [2](#xx_f09d7cb7-bcae-4905-b4cb-7b00560e33b3_SOI-Continued-683_1) | Schedule of Investments |
| [5](#xx_f09d7cb7-bcae-4905-b4cb-7b00560e33b3_FS-Continued-683_1) | Financial Statements |
| [8](#xx_f09d7cb7-bcae-4905-b4cb-7b00560e33b3_FS-Continued-683_4) | Financial Highlights |
| [9](#xx_f09d7cb7-bcae-4905-b4cb-7b00560e33b3_NTF-Continued-683_1) | Notes to Financial Statements |
| [15](#xx_f09d7cb7-bcae-4905-b4cb-7b00560e33b3_ARS-Continued-683_1) | Report of Independent Registered Public Accounting Firm |
| [16](#xx_f09d7cb7-bcae-4905-b4cb-7b00560e33b3_AOC-Continued-683_1) | Approval of Investment Advisory and Sub-Advisory Contracts |
| [19](#xx_f09d7cb7-bcae-4905-b4cb-7b00560e33b3_TI-Continued-683_1) | Tax Information |
| [20](#xx_f09d7cb7-bcae-4905-b4cb-7b00560e33b3_OIRSR-Continued-683_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments**<sup>(a)</sup> 

*October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests–98.49%** | **Common Stocks & Other Equity Interests–98.49%** | **Common Stocks & Other Equity Interests–98.49%** |
| **Aerospace & Defense–2.35%** | **Aerospace & Defense–2.35%** | **Aerospace & Defense–2.35%** |
| Airbus SE (France) | 399661 | &nbsp;&nbsp; $98544824 |
| Boeing Co. (The)<sup>(b)</sup>  | 131491 | &nbsp;&nbsp; 26432321 |
| General Electric Co. | 486397 | &nbsp;&nbsp; 150272353 |
|  |  | &nbsp;&nbsp; 275249498 |
| **Application Software–1.15%** | **Application Software–1.15%** | **Application Software–1.15%** |
| Datadog, Inc., Class A<sup>(b)</sup>  | 115481 | &nbsp;&nbsp; 18801462 |
| HubSpot, Inc.<sup>(b)</sup>  | 42071 | &nbsp;&nbsp; 20695566 |
| Intuit, Inc. | 142397 | &nbsp;&nbsp; 95057117 |
|  |  | &nbsp;&nbsp; 134554145 |
| **Asset Management & Custody Banks–0.71%** | **Asset Management & Custody Banks–0.71%** | **Asset Management & Custody Banks–0.71%** |
| KKR & Co., Inc., Class A | 707838 | &nbsp;&nbsp; 83758471 |
| **Automobile Manufacturers–0.91%** | **Automobile Manufacturers–0.91%** | **Automobile Manufacturers–0.91%** |
| Tesla, Inc.<sup>(b)</sup>  | 234496 | &nbsp;&nbsp; 107061494 |
| **Automotive Retail–0.40%** | **Automotive Retail–0.40%** | **Automotive Retail–0.40%** |
| Valvoline, Inc.<sup>(b)(c)</sup>  | 1421701 | &nbsp;&nbsp; 46930350 |
| **Biotechnology–1.38%** | **Biotechnology–1.38%** | **Biotechnology–1.38%** |
| AbbVie, Inc. | 739762 | &nbsp;&nbsp; 161297707 |
| **Broadline Retail–4.91%** | **Broadline Retail–4.91%** | **Broadline Retail–4.91%** |
| Amazon.com, Inc.<sup>(b)</sup>  | 2356902 | &nbsp;&nbsp; 575602606 |
| **Construction Materials–1.35%** | **Construction Materials–1.35%** | **Construction Materials–1.35%** |
| CRH PLC | 1325432 | &nbsp;&nbsp; 157858951 |
| **Consumer Finance–2.32%** | **Consumer Finance–2.32%** | **Consumer Finance–2.32%** |
| American Express Co. | 395495 | &nbsp;&nbsp; 142666911 |
| Capital One Financial Corp. | 586427 | &nbsp;&nbsp; 129008076 |
|  |  | &nbsp;&nbsp; 271674987 |
| **Consumer Staples Merchandise Retail–1.98%** | **Consumer Staples Merchandise Retail–1.98%** | **Consumer Staples Merchandise Retail–1.98%** |
| BJ's Wholesale Club Holdings, Inc.<sup>(b)(c)</sup>  | 511362 | &nbsp;&nbsp; 45132810 |
| Walmart, Inc. | 1851840 | &nbsp;&nbsp; 187369171 |
|  |  | &nbsp;&nbsp; 232501981 |
| **Diversified Banks–2.80%** | **Diversified Banks–2.80%** | **Diversified Banks–2.80%** |
| JPMorgan Chase & Co. | 1055140 | &nbsp;&nbsp; 328275157 |
| **Diversified Financial Services–1.05%** | **Diversified Financial Services–1.05%** | **Diversified Financial Services–1.05%** |
| Equitable Holdings, Inc. | 2501503 | &nbsp;&nbsp; 123574248 |
| **Electric Utilities–1.45%** | **Electric Utilities–1.45%** | **Electric Utilities–1.45%** |
| Constellation Energy Corp. | 126081 | &nbsp;&nbsp; 47532537 |
| PPL Corp. | 3355970 | &nbsp;&nbsp; 122560024 |
|  |  | &nbsp;&nbsp; 170092561 |
| **Electrical Components & Equipment–1.57%** | **Electrical Components & Equipment–1.57%** | **Electrical Components & Equipment–1.57%** |
| Emerson Electric Co. | 413733 | &nbsp;&nbsp; 57744715 |
| Hubbell, Inc. | 268421 | &nbsp;&nbsp; 126157870 |
|  |  | &nbsp;&nbsp; 183902585 |
| **Gas Utilities–1.19%** | **Gas Utilities–1.19%** | **Gas Utilities–1.19%** |
| Atmos Energy Corp. | 809138 | &nbsp;&nbsp; 138945177 |
| **Health Care Distributors–1.04%** | **Health Care Distributors–1.04%** | **Health Care Distributors–1.04%** |
| Cencora, Inc. | 359487 | &nbsp;&nbsp; 121438304 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Health Care Equipment–2.22%** | **Health Care Equipment–2.22%** | **Health Care Equipment–2.22%** |
| Boston Scientific Corp.<sup>(b)</sup>  | 1316688 | &nbsp;&nbsp; $132616815 |
| Medtronic PLC | 1408857 | &nbsp;&nbsp; 127783330 |
|  |  | &nbsp;&nbsp; 260400145 |
| **Health Care Facilities–0.68%** | **Health Care Facilities–0.68%** | **Health Care Facilities–0.68%** |
| Tenet Healthcare Corp.<sup>(b)</sup>  | 383445 | &nbsp;&nbsp; 79177558 |
| **Health Care REITs–0.55%** | **Health Care REITs–0.55%** | **Health Care REITs–0.55%** |
| Welltower, Inc. | 354213 | &nbsp;&nbsp; 64126722 |
| **Health Care Services–1.03%** | **Health Care Services–1.03%** | **Health Care Services–1.03%** |
| CVS Health Corp. | 1542182 | &nbsp;&nbsp; 120521523 |
| **Home Improvement Retail–0.68%** | **Home Improvement Retail–0.68%** | **Home Improvement Retail–0.68%** |
| Lowe's Cos., Inc. | 336913 | &nbsp;&nbsp; 80229093 |
| **Homebuilding–0.52%** | **Homebuilding–0.52%** | **Homebuilding–0.52%** |
| D.R. Horton, Inc. | 409598 | &nbsp;&nbsp; 61062870 |
| **Hotels, Resorts & Cruise Lines–0.75%** | **Hotels, Resorts & Cruise Lines–0.75%** | **Hotels, Resorts & Cruise Lines–0.75%** |
| Royal Caribbean Cruises Ltd. | 306421 | &nbsp;&nbsp; 87890735 |
| **Household Products–0.55%** | **Household Products–0.55%** | **Household Products–0.55%** |
| Procter & Gamble Co. (The) | 429005 | &nbsp;&nbsp; 64509482 |
| **Industrial Machinery & Supplies & Components–1.91%** | **Industrial Machinery & Supplies & Components–1.91%** | **Industrial Machinery & Supplies & Components–1.91%** |
| Otis Worldwide Corp. | 1191974 | &nbsp;&nbsp; 110567508 |
| Parker-Hannifin Corp. | 146358 | &nbsp;&nbsp; 113109853 |
|  |  | &nbsp;&nbsp; 223677361 |
| **Industrial REITs–0.97%** | **Industrial REITs–0.97%** | **Industrial REITs–0.97%** |
| Prologis, Inc. | 914200 | &nbsp;&nbsp; 113443078 |
| **Insurance Brokers–0.58%** | **Insurance Brokers–0.58%** | **Insurance Brokers–0.58%** |
| Arthur J. Gallagher & Co. | 272560 | &nbsp;&nbsp; 68000994 |
| **Integrated Oil & Gas–1.87%** | **Integrated Oil & Gas–1.87%** | **Integrated Oil & Gas–1.87%** |
| Chevron Corp. | 949235 | &nbsp;&nbsp; 149713344 |
| Suncor Energy, Inc. (Canada) | 1755742 | &nbsp;&nbsp; 69896089 |
|  |  | &nbsp;&nbsp; 219609433 |
| **Integrated Telecommunication Services–0.71%** | **Integrated Telecommunication Services–0.71%** | **Integrated Telecommunication Services–0.71%** |
| AT&T, Inc. | 3372090 | &nbsp;&nbsp; 83459228 |
| **Interactive Media & Services–9.80%** | **Interactive Media & Services–9.80%** | **Interactive Media & Services–9.80%** |
| Alphabet, Inc., Class A | 2804395 | &nbsp;&nbsp; 788567830 |
| Meta Platforms, Inc., Class A | 555546 | &nbsp;&nbsp; 360188249 |
|  |  | &nbsp;&nbsp; 1148756079 |
| **Internet Services & Infrastructure–0.55%** | **Internet Services & Infrastructure–0.55%** | **Internet Services & Infrastructure–0.55%** |
| MongoDB, Inc.<sup>(b)</sup>  | 180190 | &nbsp;&nbsp; 64835966 |
| **Investment Banking & Brokerage–1.50%** | **Investment Banking & Brokerage–1.50%** | **Investment Banking & Brokerage–1.50%** |
| Charles Schwab Corp. (The) | 1865347 | &nbsp;&nbsp; 176312598 |
| **Life Sciences Tools & Services–0.69%** | **Life Sciences Tools & Services–0.69%** | **Life Sciences Tools & Services–0.69%** |
| Lonza Group AG (Switzerland) | 117769 | &nbsp;&nbsp; 81323202 |
| **Movies & Entertainment–1.39%** | **Movies & Entertainment–1.39%** | **Movies & Entertainment–1.39%** |
| Walt Disney Co. (The) | 1450764 | &nbsp;&nbsp; 163385042 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**Invesco Main Street Fund**<sup>®</sup>

------

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Multi-Utilities–0.53%** | **Multi-Utilities–0.53%** | **Multi-Utilities–0.53%** |
| Ameren Corp. | 613724 | &nbsp;&nbsp; $62612123 |
| **Oil & Gas Storage & Transportation–0.74%** | **Oil & Gas Storage & Transportation–0.74%** | **Oil & Gas Storage & Transportation–0.74%** |
| Cheniere Energy, Inc. | 407215 | &nbsp;&nbsp; 86329580 |
| **Passenger Ground Transportation–1.54%** | **Passenger Ground Transportation–1.54%** | **Passenger Ground Transportation–1.54%** |
| Uber Technologies, Inc.<sup>(b)</sup>  | 1865389 | &nbsp;&nbsp; 180010039 |
| **Pharmaceuticals–2.16%** | **Pharmaceuticals–2.16%** | **Pharmaceuticals–2.16%** |
| AstraZeneca PLC, ADR (United Kingdom) | 539954 | &nbsp;&nbsp; 44492209 |
| Eli Lilly and Co. | 241495 | &nbsp;&nbsp; 208376376 |
|  |  | &nbsp;&nbsp; 252868585 |
| **Property & Casualty Insurance–1.12%** | **Property & Casualty Insurance–1.12%** | **Property & Casualty Insurance–1.12%** |
| American International Group, Inc. | 1665449 | &nbsp;&nbsp; 131503853 |
| **Restaurants–0.72%** | **Restaurants–0.72%** | **Restaurants–0.72%** |
| McDonald's Corp. | 283639 | &nbsp;&nbsp; 84646387 |
| **Semiconductor Materials & Equipment–1.38%** | **Semiconductor Materials & Equipment–1.38%** | **Semiconductor Materials & Equipment–1.38%** |
| ASML Holding N.V., New York Shares <br> (Netherlands) | 153081 | &nbsp;&nbsp; 162147988 |
| **Semiconductors–14.38%** | **Semiconductors–14.38%** | **Semiconductors–14.38%** |
| ARM Holdings PLC, ADR<sup>(b)(c)</sup>  | 363674 | &nbsp;&nbsp; 61759119 |
| Broadcom, Inc. | 1106866 | &nbsp;&nbsp; 409130879 |
| NVIDIA Corp. | 5576621 | &nbsp;&nbsp; 1129209986 |
| Texas Instruments, Inc. | 531597 | &nbsp;&nbsp; 85831652 |
|  |  | &nbsp;&nbsp; 1685931636 |
| **Specialty Chemicals–0.87%** | **Specialty Chemicals–0.87%** | **Specialty Chemicals–0.87%** |
| DuPont de Nemours, Inc. | 1252761 | &nbsp;&nbsp; 102287936 |
| **Systems Software–10.84%** | **Systems Software–10.84%** | **Systems Software–10.84%** |
| Microsoft Corp. | 1939691 | &nbsp;&nbsp; 1004391397 |
| Oracle Corp. | 544014 | &nbsp;&nbsp; 142863516 |
| ServiceNow, Inc.<sup>(b)</sup>  | 133722 | &nbsp;&nbsp; 122927960 |
|  |  | &nbsp;&nbsp; 1270182873 |
| **Technology Hardware, Storage & Peripherals–6.61%** | **Technology Hardware, Storage & Peripherals–6.61%** | **Technology Hardware, Storage & Peripherals–6.61%** |
| Apple, Inc. | 2863488 | &nbsp;&nbsp; 774201251 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Value** |
| **Telecom Tower REITs–0.51%** | **Telecom Tower REITs–0.51%** | **Telecom Tower REITs–0.51%** | **Telecom Tower REITs–0.51%** |
| American Tower Corp. | American Tower Corp. | 334738 | &nbsp;&nbsp; $59911407 |
| **Tobacco–1.74%** | **Tobacco–1.74%** | **Tobacco–1.74%** | **Tobacco–1.74%** |
| Philip Morris International, Inc. | Philip Morris International, Inc. | 1409013 | &nbsp;&nbsp; 203362846 |
| **Transaction & Payment Processing Services–1.84%** | **Transaction & Payment Processing Services–1.84%** | **Transaction & Payment Processing Services–1.84%** | **Transaction & Payment Processing Services–1.84%** |
| Mastercard, Inc., Class A | Mastercard, Inc., Class A | 389675 | &nbsp;&nbsp; 215096703 |
| Total Common Stocks & Other Equity Interests <br> (Cost $6,585,717,281) | Total Common Stocks & Other Equity Interests <br> (Cost $6,585,717,281) | Total Common Stocks & Other Equity Interests <br> (Cost $6,585,717,281) | &nbsp;&nbsp; 11544532538 |
| **Money Market Funds–0.96%** | **Money Market Funds–0.96%** | **Money Market Funds–0.96%** | **Money Market Funds–0.96%** |
| Invesco Government & Agency Portfolio, <br> Institutional Class, 4.06%<sup>(d)(e)</sup>  | Invesco Government & Agency Portfolio, <br> Institutional Class, 4.06%<sup>(d)(e)</sup>  | 39340270 | &nbsp;&nbsp; 39340270 |
| Invesco Treasury Portfolio, Institutional <br> Class, 3.96%<sup>(d)(e)</sup>  | Invesco Treasury Portfolio, Institutional <br> Class, 3.96%<sup>(d)(e)</sup>  | 73060502 | &nbsp;&nbsp; 73060502 |
| Total Money Market Funds <br> (Cost $112,400,772) | Total Money Market Funds <br> (Cost $112,400,772) | Total Money Market Funds <br> (Cost $112,400,772) | &nbsp;&nbsp; 112400772 |
| TOTAL INVESTMENTS IN SECURITIES <br> (excluding investments purchased <br> with cash collateral from <br> securities on loan)-99.45% <br> (Cost $6,698,118,053)<br>|  |  | &nbsp;&nbsp; 11656933310 |
| **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** |
| **Money Market Funds–0.77%** | **Money Market Funds–0.77%** | **Money Market Funds–0.77%** | **Money Market Funds–0.77%** |
| Invesco Private Government Fund, <br> 4.13%<sup>(d)(e)(f)</sup>  | Invesco Private Government Fund, <br> 4.13%<sup>(d)(e)(f)</sup>  | 25122645 | &nbsp;&nbsp; 25122645 |
| Invesco Private Prime Fund, <br> 4.30%<sup>(d)(e)(f)</sup>  | Invesco Private Prime Fund, <br> 4.30%<sup>(d)(e)(f)</sup>  | 65374189 | &nbsp;&nbsp; 65393801 |
| Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $90,516,976) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $90,516,976) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $90,516,976) | &nbsp;&nbsp; 90516446 |
| TOTAL INVESTMENTS IN SECURITIES–100.22% <br> (Cost $6,788,635,029) | TOTAL INVESTMENTS IN SECURITIES–100.22% <br> (Cost $6,788,635,029) | TOTAL INVESTMENTS IN SECURITIES–100.22% <br> (Cost $6,788,635,029) | &nbsp;&nbsp; 11747449756 |
| OTHER ASSETS LESS LIABILITIES—(0.22)% | OTHER ASSETS LESS LIABILITIES—(0.22)% | OTHER ASSETS LESS LIABILITIES—(0.22)% | &nbsp;&nbsp; (25519193)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $11721930563 |

---

Investment Abbreviations:

ADR – American Depositary Receipt <br> REIT – Real Estate Investment Trust

Notes to Schedule of Investments:

<sup>(a)</sup> 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. 

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> All or a portion of this security was out on loan at October 31, 2025.

<sup>(d)</sup> Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the fiscal year ended October 31, 2025. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**October 31, 2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**October 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market** <br> **Funds:**<br>|  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, <br> Institutional Class<br>| $9133687 | &nbsp;&nbsp; $656353488 | &nbsp;&nbsp; $(626146905) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $39340270 | &nbsp;&nbsp; $1004572 |
| Invesco Treasury Portfolio, Institutional Class | 16967494 | &nbsp;&nbsp; 1218942192 | &nbsp;&nbsp; (1162849184) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 73060502 | &nbsp;&nbsp; 1848821 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**Invesco Main Street Fund**<sup>®</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **October 31, 2024**<br>| **Purchases**<br> **at Cost**<br>| **Proceeds**<br> **from Sales**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br>| **Realized**<br> **Gain**<br>| **Value**<br> **October 31, 2025**<br>| **Dividend Income** |
| **Investments Purchased with Cash** <br> **Collateral from Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | $25212951 | &nbsp;&nbsp; $760550074 | &nbsp;&nbsp; $(760640380) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $25122645 | &nbsp;&nbsp; $1,046,120\* |
| Invesco Private Prime Fund | 65729419 | &nbsp;&nbsp; 1711460412 | &nbsp;&nbsp; (1711818751) | &nbsp;&nbsp; 5762 | &nbsp;&nbsp; 16959 | &nbsp;&nbsp; 65393801 | &nbsp;&nbsp; 2,918,720\* |
| Total | $117043551 | &nbsp;&nbsp; $4347306166 | &nbsp;&nbsp; $(4261455220) | &nbsp;&nbsp; $5762 | &nbsp;&nbsp; $16959 | &nbsp;&nbsp; $202917218 | &nbsp;&nbsp; $6818233 |

---

\* Represents the income earned on the investment of cash collateral, which is included in securities lending income on the Statement of Operations. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any. 

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of October 31, 2025.

<sup>(f)</sup> 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. See Note 1J. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**Invesco Main Street Fund**<sup>®</sup>

------

**Statement of Assets and Liabilities**

*October 31, 2025*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $6,585,717,281)\*<br>| &nbsp;&nbsp; $11544532538 |
| Investments in affiliated money market funds, at value <br> (Cost $202,917,748)<br>| &nbsp;&nbsp; 202917218 |
| Cash | &nbsp;&nbsp; 3000000 |
| Receivable for: |  |
| Investments sold | &nbsp;&nbsp; 102664307 |
| Fund shares sold | &nbsp;&nbsp; 2407363 |
| Dividends | &nbsp;&nbsp; 6532345 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 615101 |
| Other assets | &nbsp;&nbsp; 70962 |
| Total assets | &nbsp;&nbsp; 11862739834 |
| **Liabilities:** |  |
| Payable for: |  |
| Investments purchased | &nbsp;&nbsp; 39301357 |
| Fund shares reacquired | &nbsp;&nbsp; 6266318 |
| Collateral upon return of securities loaned | &nbsp;&nbsp; 90516976 |
| Accrued fees to affiliates | &nbsp;&nbsp; 3868946 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 3877 |
| Accrued other operating expenses | &nbsp;&nbsp; 236696 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 615101 |
| Total liabilities | &nbsp;&nbsp; 140809271 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $11721930563 |
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $6007581037 |
| Distributable earnings | &nbsp;&nbsp; 5714349526 |
|  | &nbsp;&nbsp; $11721930563 |

---

---

| | |
|:---|:---|
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $10180359035 |
| Class C | &nbsp;&nbsp; $197155131 |
| Class R | &nbsp;&nbsp; $356585823 |
| Class Y | &nbsp;&nbsp; $634824902 |
| Class R5 | &nbsp;&nbsp; $14934 |
| Class R6 | &nbsp;&nbsp; $352990738 |
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 150287759 |
| Class C | &nbsp;&nbsp; 3329932 |
| Class R | &nbsp;&nbsp; 5506360 |
| Class Y | &nbsp;&nbsp; 9446995 |
| Class R5 | &nbsp;&nbsp; 218 |
| Class R6 | &nbsp;&nbsp; 5251294 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $67.74 |
| Maximum offering price per share <br>(Net asset value of $67.74 ÷ 94.50%)<br>| &nbsp;&nbsp; $71.68 |
| Class C: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $59.21 |
| Class R: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $64.76 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $67.20 |
| Class R5: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $68.50 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $67.22 |

---

\* At October 31, 2025, securities with an aggregate value of $88,949,915 were on loan to brokers. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**Invesco Main Street Fund**<sup>®</sup>

------

**Statement of Operations**

*For the year ended October 31, 2025* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Dividends (net of foreign withholding taxes of $1,202,329) | &nbsp;&nbsp; $126560726 |
| Dividends from affiliated money market funds (includes net securities lending income of $277,516) | &nbsp;&nbsp; 3130909 |
| Total investment income | &nbsp;&nbsp; 129691635 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 48178801 |
| Administrative services fees | &nbsp;&nbsp; 1549014 |
| Custodian fees | &nbsp;&nbsp; 74386 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 21765669 |
| Class C | &nbsp;&nbsp; 1985121 |
| Class R | &nbsp;&nbsp; 1640228 |
| Transfer agent fees — A, C, R and Y | &nbsp;&nbsp; 10066293 |
| Transfer agent fees — R5 | &nbsp;&nbsp; 4 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 94716 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 99924 |
| Registration and filing fees | &nbsp;&nbsp; 156716 |
| Reports to shareholders | &nbsp;&nbsp; 344635 |
| Professional services fees | &nbsp;&nbsp; 155751 |
| Other | &nbsp;&nbsp; 150925 |
| Total expenses | &nbsp;&nbsp; 86262183 |
| Less: Fees waived and/or expense offset arrangement(s) | &nbsp;&nbsp; (401188)<br>|
| Net expenses | &nbsp;&nbsp; 85860995 |
| Net investment income | &nbsp;&nbsp; 43830640 |
| **Realized and unrealized gain from:** |  |
| Net realized gain from: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 824980830 |
| Affiliated investment securities | &nbsp;&nbsp; 16959 |
| Foreign currencies | &nbsp;&nbsp; 82082 |
|  | &nbsp;&nbsp; 825079871 |
| Change in net unrealized appreciation of: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 1051979842 |
| Affiliated investment securities | &nbsp;&nbsp; 5762 |
| Foreign currencies | &nbsp;&nbsp; 12972 |
|  | &nbsp;&nbsp; 1051998576 |
| Net realized and unrealized gain | &nbsp;&nbsp; 1877078447 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $1920909087 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**Invesco Main Street Fund**<sup>®</sup>

------

**Statement of Changes in Net Assets**

*For the years ended October 31, 2025 and 2024* 

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $43830640 | &nbsp;&nbsp; $57860452 |
| Net realized gain | &nbsp;&nbsp; 825079871 | &nbsp;&nbsp; 618369709 |
| Change in net unrealized appreciation | &nbsp;&nbsp; 1051998576 | &nbsp;&nbsp; 2506245119 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 1920909087 | &nbsp;&nbsp; 3182475280 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (537142534)<br>| &nbsp;&nbsp; (576384314)<br>|
| Class C | &nbsp;&nbsp; (12021940)<br>| &nbsp;&nbsp; (16230096)<br>|
| Class R | &nbsp;&nbsp; (18291758)<br>| &nbsp;&nbsp; (19728467)<br>|
| Class Y | &nbsp;&nbsp; (33107468)<br>| &nbsp;&nbsp; (33609206)<br>|
| Class R5 | &nbsp;&nbsp; (801)<br>| &nbsp;&nbsp; (815)<br>|
| Class R6 | &nbsp;&nbsp; (19874081)<br>| &nbsp;&nbsp; (30482737)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (620438582)<br>| &nbsp;&nbsp; (676435635)<br>|
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; (321625535)<br>| &nbsp;&nbsp; (166497595)<br>|
| Class C | &nbsp;&nbsp; (33051582)<br>| &nbsp;&nbsp; (29672303)<br>|
| Class R | &nbsp;&nbsp; 846707 | &nbsp;&nbsp; 517017 |
| Class Y | &nbsp;&nbsp; 18231608 | &nbsp;&nbsp; (1663304)<br>|
| Class R6 | &nbsp;&nbsp; (13643392)<br>| &nbsp;&nbsp; (164419073)<br>|
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; (349242194)<br>| &nbsp;&nbsp; (361735258)<br>|
| Net increase in net assets | &nbsp;&nbsp; 951228311 | &nbsp;&nbsp; 2144304387 |
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 10770702252 | &nbsp;&nbsp; 8626397865 |
| End of year | &nbsp;&nbsp; $11721930563 | &nbsp;&nbsp; $10770702252 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**Invesco Main Street Fund**<sup>®</sup>

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**(loss)** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 10/31/25 | $60.26 | $0.24 | $10.73 | $10.97 | $(0.39)<br>| $(3.10)<br>| $(3.49)<br>| $67.74 | 18.96 %<sup>(d)</sup><br>| &nbsp;&nbsp; $10180359 | 0.79 %<sup>(d)</sup><br>| 0.79 %<sup>(d)</sup><br>| 0.40 %<sup>(d)</sup><br>| 45<br> %<br>|
| Year ended 10/31/24 | 46.88 | 0.31 | 16.77 | 17.08 | (0.11)<br>| (3.59)<br>| (3.70)<br>| 60.26 | 38.21 <br><sup>(d)</sup><br>| &nbsp;&nbsp; 9369552 | 0.80 <br><sup>(d)</sup><br>| 0.80 <br><sup>(d)</sup><br>| 0.56 <br><sup>(d)</sup><br>| 39 |
| Year ended 10/31/23 | 45.05 | 0.32 | 3.54 | 3.86 | (0.47)<br>| (1.56)<br>| (2.03)<br>| 46.88 | 8.95 <br><sup>(d)</sup><br>| &nbsp;&nbsp; 7375761 | 0.80 <br><sup>(d)</sup><br>| 0.80 <br><sup>(d)</sup><br>| 0.68 <br><sup>(d)</sup><br>| 66 |
| Year ended 10/31/22 | 66.18 | 0.38 | (10.59)<br>| (10.21)<br>| (0.38)<br>| (10.54)<br>| (10.92)<br>| 45.05 | (18.61 )<sup>(d)</sup><br>| &nbsp;&nbsp; 7340263 | 0.80 <br><sup>(d)</sup><br>| 0.80 <br><sup>(d)</sup><br>| 0.73 <br><sup>(d)</sup><br>| 52 |
| Year ended 10/31/21 | 48.70 | 0.35 | 18.82 | 19.17 | (0.44)<br>| (1.25)<br>| (1.69)<br>| 66.18 | 40.26 <br><sup>(d)</sup><br>| &nbsp;&nbsp; 9808667 | 0.82 <br><sup>(d)</sup><br>| 0.82 <br><sup>(d)</sup><br>| 0.58 <br><sup>(d)</sup><br>| 47 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 10/31/25 | 53.11 | (0.20)<br>| 9.40 | 9.20 |  | (3.10)<br>| (3.10)<br>| 59.21 | 18.04 | &nbsp;&nbsp; 197155 | 1.56 | 1.56 | (0.37)<br>| 45 |
| Year ended 10/31/24 | 41.95 | (0.10)<br>| 14.90 | 14.80 | (0.05)<br>| (3.59)<br>| (3.64)<br>| 53.11 | 37.16 | &nbsp;&nbsp; 209708 | 1.57 | 1.57 | (0.21)<br>| 39 |
| Year ended 10/31/23 | 40.46 | (0.04)<br>| 3.18 | 3.14 | (0.09)<br>| (1.56)<br>| (1.65)<br>| 41.95 | 8.09 | &nbsp;&nbsp; 189259 | 1.57 | 1.57 | (0.09)<br>| 66 |
| Year ended 10/31/22 | 60.54 | (0.02)<br>| (9.52)<br>| (9.54)<br>|  | (10.54)<br>| (10.54)<br>| 40.46 | (19.20)<br>| &nbsp;&nbsp; 206387 | 1.57 | 1.57 | (0.04)<br>| 52 |
| Year ended 10/31/21 | 44.96 | (0.10)<br>| 17.31 | 17.21 | (0.38)<br>| (1.25)<br>| (1.63)<br>| 60.54 | 39.19 | &nbsp;&nbsp; 307346 | 1.59 | 1.59 | (0.19)<br>| 47 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year ended 10/31/25 | 57.76 | 0.08 | 10.27 | 10.35 | (0.25)<br>| (3.10)<br>| (3.35)<br>| 64.76 | 18.65 | &nbsp;&nbsp; 356586 | 1.06 | 1.06 | 0.13 | 45 |
| Year ended 10/31/24 | 45.17 | 0.16 | 16.11 | 16.27 | (0.09)<br>| (3.59)<br>| (3.68)<br>| 57.76 | 37.83 | &nbsp;&nbsp; 316625 | 1.07 | 1.07 | 0.29 | 39 |
| Year ended 10/31/23 | 43.47 | 0.19 | 3.41 | 3.60 | (0.34)<br>| (1.56)<br>| (1.90)<br>| 45.17 | 8.63 | &nbsp;&nbsp; 245222 | 1.07 | 1.07 | 0.41 | 66 |
| Year ended 10/31/22 | 64.21 | 0.23 | (10.21)<br>| (9.98)<br>| (0.22)<br>| (10.54)<br>| (10.76)<br>| 43.47 | (18.80)<br>| &nbsp;&nbsp; 231671 | 1.07 | 1.07 | 0.46 | 52 |
| Year ended 10/31/21 | 47.40 | 0.18 | 18.30 | 18.48 | (0.42)<br>| (1.25)<br>| (1.67)<br>| 64.21 | 39.88 | &nbsp;&nbsp; 291450 | 1.09 | 1.09 | 0.31 | 47 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 10/31/25 | 59.81 | 0.38 | 10.64 | 11.02 | (0.53)<br>| (3.10)<br>| (3.63)<br>| 67.20 | 19.23 | &nbsp;&nbsp; 634825 | 0.56 | 0.56 | 0.63 | 45 |
| Year ended 10/31/24 | 46.47 | 0.44 | 16.62 | 17.06 | (0.13)<br>| (3.59)<br>| (3.72)<br>| 59.81 | 38.53 | &nbsp;&nbsp; 546793 | 0.57 | 0.57 | 0.79 | 39 |
| Year ended 10/31/23 | 44.69 | 0.43 | 3.50 | 3.93 | (0.59)<br>| (1.56)<br>| (2.15)<br>| 46.47 | 9.20 | &nbsp;&nbsp; 423217 | 0.57 | 0.57 | 0.91 | 66 |
| Year ended 10/31/22 | 65.75 | 0.49 | (10.49)<br>| (10.00)<br>| (0.52)<br>| (10.54)<br>| (11.06)<br>| 44.69 | (18.42)<br>| &nbsp;&nbsp; 434168 | 0.57 | 0.57 | 0.96 | 52 |
| Year ended 10/31/21 | 48.31 | 0.48 | 18.67 | 19.15 | (0.46)<br>| (1.25)<br>| (1.71)<br>| 65.75 | 40.57 | &nbsp;&nbsp; 596575 | 0.59 | 0.59 | 0.81 | 47 |
| **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** |
| Year ended 10/31/25 | 60.90 | 0.43 | 10.84 | 11.27 | (0.57)<br>| (3.10)<br>| (3.67)<br>| 68.50 | 19.30 | &nbsp;&nbsp; 15 | 0.49 | 0.49 | 0.70 | 45 |
| Year ended 10/31/24 | 47.23 | 0.48 | 16.92 | 17.40 | (0.14)<br>| (3.59)<br>| (3.73)<br>| 60.90 | 38.63 | &nbsp;&nbsp; 13 | 0.50 | 0.50 | 0.86 | 39 |
| Year ended 10/31/23 | 45.40 | 0.47 | 3.55 | 4.02 | (0.63)<br>| (1.56)<br>| (2.19)<br>| 47.23 | 9.28 | &nbsp;&nbsp; 10 | 0.50 | 0.50 | 0.98 | 66 |
| Year ended 10/31/22 | 66.63 | 0.54 | (10.64)<br>| (10.10)<br>| (0.59)<br>| (10.54)<br>| (11.13)<br>| 45.40 | (18.33)<br>| &nbsp;&nbsp; 10 | 0.49 | 0.49 | 1.04 | 52 |
| Year ended 10/31/21 | 48.89 | 0.55 | 18.91 | 19.46 | (0.47)<br>| (1.25)<br>| (1.72)<br>| 66.63 | 40.73 | &nbsp;&nbsp; 15 | 0.48 | 0.48 | 0.92 | 47 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 10/31/25 | 59.83 | 0.42 | 10.64 | 11.06 | (0.57)<br>| (3.10)<br>| (3.67)<br>| 67.22 | 19.30 | &nbsp;&nbsp; 352991 | 0.49 | 0.49 | 0.70 | 45 |
| Year ended 10/31/24 | 46.46 | 0.47 | 16.63 | 17.10 | (0.14)<br>| (3.59)<br>| (3.73)<br>| 59.83 | 38.63 | &nbsp;&nbsp; 328011 | 0.50 | 0.50 | 0.86 | 39 |
| Year ended 10/31/23 | 44.70 | 0.46 | 3.49 | 3.95 | (0.63)<br>| (1.56)<br>| (2.19)<br>| 46.46 | 9.26 | &nbsp;&nbsp; 392928 | 0.50 | 0.50 | 0.98 | 66 |
| Year ended 10/31/22 | 65.78 | 0.53 | (10.48)<br>| (9.95)<br>| (0.59)<br>| (10.54)<br>| (11.13)<br>| 44.70 | (18.35)<br>| &nbsp;&nbsp; 380913 | 0.49 | 0.49 | 1.04 | 52 |
| Year ended 10/31/21 | 48.28 | 0.54 | 18.68 | 19.22 | (0.47)<br>| (1.25)<br>| (1.72)<br>| 65.78 | 40.75 | &nbsp;&nbsp; 539993 | 0.48 | 0.48 | 0.92 | 47 |

---

<sup>(a)</sup> Calculated using average shares outstanding.

<sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable. 

<sup>(c)</sup> Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.

<sup>(d)</sup> The total return, ratios of expenses to average net assets and ratio of net investment income (loss) to average net assets reflect actual 12b-1 fees of 0.23% for the years ended October 31, 2025, 2024, 2023, 2022 and 2021. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**8**

**Invesco Main Street Fund**<sup>®</sup>

------

**Notes to Financial Statements**

*October 31, 2025*

**NOTE 1—Significant Accounting Policies**

Invesco Main Street Fund<sup>®</sup> (the "Fund") is a series portfolio of AIM Equity Funds (Invesco Equity Funds) (the "Trust"). The Trust is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's investment objective is to seek capital appreciation.

The Fund currently consists of six different classes of shares: Class A, Class C, Class R, Class Y, Class R5 and Class R6. Class Y shares are available only to certain investors. Class A shares are sold with a front-end sales charge unless certain waiver criteria are met. Under certain circumstances, load waived shares may be subject to contingent deferred sales charges ("CDSC"). Class C shares are sold with a CDSC. Class R, Class Y, Class R5 and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Class A shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

Class R5 shares are closed to new investors.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

**A.** **Security Valuations** — Securities, including restricted securities, are valued according to the following policy.

A security listed or traded on an exchange is generally valued at its trade price or official closing price that day as of the close of the exchange where the security is principally traded, or lacking any trades or official closing price on a particular day, the security may be valued at the closing bid or ask price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued using prices provided by an independent pricing service they may be considered fair valued. Futures contracts are valued at the daily settlement price set by an exchange on which they are principally traded. Where a final settlement price exists, exchange-traded options are valued at the final settlement price from the exchange where the option principally trades. Where a final settlement price does not exist, exchange-traded options are valued at the mean between the last bid and ask price generally from the exchange where the option principally trades.

Securities of investment companies that are not exchange-traded (e.g., open-end mutual funds) are valued using such company's end-of-business-day net asset value per share.

Deposits, other obligations of U.S. and non-U.S. banks and financial institutions are valued at their daily account value.

Fixed income securities (including convertible debt securities) generally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots, and their value may be adjusted accordingly. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

Foreign securities' (including foreign exchange contracts) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the New York Stock Exchange ("NYSE"). If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Invesco Advisers, Inc. (the "Adviser" or "Invesco") may use various pricing services to obtain market quotations as well as fair value prices. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become not representative of market value in the Adviser's judgment ("unreliable"). If, between the time trading ends on a particular security and the close of the customary trading session on the NYSE, a significant event occurs that makes the closing price of the security unreliable, the Adviser may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith in accordance with Board- approved policies and related Adviser procedures ("Valuation Procedures"). Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities' prices meeting the degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.

Unlisted securities will be valued using prices provided by independent pricing services or by another method that the Adviser, in its judgment, believes better reflects the security's fair value in accordance with the Valuation Procedures.

Non-traded rights and warrants shall be valued at intrinsic value if the terms of the rights and warrants are available, specifically the subscription or exercise price and the ratio. Intrinsic value is calculated as the daily market closing price of the security to be received less the subscription price, which is then adjusted by the exercise ratio. In the case of warrants, an option pricing model supplied by an independent pricing service may be used based on market data such as volatility, stock price and interest rate from the independent pricing service and strike price and exercise period from verified terms.

Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The mean between the last bid and ask prices may be used to value debt obligations, including corporate loans.

Securities for which market quotations are not readily available are fair valued by the Adviser in accordance with the Valuation Procedures. If a fair value price provided by a pricing service is unreliable, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer's assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises, economic sanctions and tariffs, significant governmental actions or adverse investor sentiment generally and market liquidity. 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.

**9**

**Invesco Main Street Fund**<sup>®</sup>

------

The price the Fund could receive upon the sale of any investment may differ from the Adviser's valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Fund securities that are fair valued may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used. Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, the Fund could realize a greater or lesser than expected gain or loss upon the sale of the investment.

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date.

The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class.

**C.** **Country Determination** — For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

**D.** **Distributions** – Distributions from net investment income and net realized capital gain, if any, are generally declared and paid annually and recorded on the ex-dividend date. The Fund may elect to treat a portion of the proceeds from redemptions as distributions for federal income tax purposes.

**E.** **Federal Income Taxes –** The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

**F.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R5 and Class R6 are allocated based on relative net assets of Class R5 and Class R6. Sub-accounting fees attributable to Class R5 are charged to the operations of the class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative net assets.

**G.** **Accounting Estimates** – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** – Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole, thereby enabling better understanding of how an entity's segments impact overall performance. The Fund represents a single operating segment. Subject to the oversight and, when applicable, approval of the Board of Trustees, the Adviser acts as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements. Adoption of the new standard impacted the Fund's financial statement notes disclosures only and did not affect the Fund's financial position or the results of its operations.

**J.** **Securities Lending** – The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the 1940 Act and money market funds (collectively, "affiliated money market funds") and is shown as such on the Schedule of Investments. The Fund bears the risk of loss with respect to the investment of collateral. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When

**10**

**Invesco Main Street Fund**<sup>®</sup>

------

loaning securities, the Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to the Fund if, and to the extent that, the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or the Fund. Upon termination, the borrower will return to the Fund the securities loaned and the Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to the Fund. Some of these losses may be indemnified by the lending agent. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in *Dividends from affiliated money market funds* on the Statement of Operations. The aggregate value of securities out on loan, if any, is shown as a footnote on the Statement of Assets and Liabilities.

The Adviser serves as an affiliated securities lending agent for the Fund. The Bank of New York Mellon also serves as a securities lending agent. To the extent the Fund utilizes the Adviser as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the year ended October 31, 2025, the Fund paid the Adviser $22,625 in fees for securities lending agent services. Fees paid to the Adviser for securities lending agent services, if any, are included in *Dividends from affiliated money market funds* on the Statement of Operations.

**K.** **Foreign Currency Translations** — Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. 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.

**L.** **Forward Foreign Currency Contracts** — The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate\*** |
| First $200 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.650% |
| Next $150 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.600% |
| Next $150 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.550% |
| Next $9.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.450% |
| Over $10 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.430% |

---

\* The advisory fee paid by the Fund shall be reduced by any amounts paid by the Fund under the administrative services agreement with the Adviser.

For the year ended October 31, 2025, the effective advisory fee rate incurred by the Fund was 0.44%.

Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory agreement with Invesco Capital Management LLC (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to

**11**

**Invesco Main Street Fund**<sup>®</sup>

------

any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Affiliated Sub-Adviser(s). Invesco has also entered into a sub-advisory agreement with OppenheimerFunds, Inc. to provide discretionary management services to the Fund.

The Adviser has agreed, for an indefinite period, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class R, Class Y, Class R5 and Class R6 shares to 2.00%, 2.75%, 2.25%, 1.75%, 1.75% and 1.75%, respectively, of the Fund's average daily net assets (the "boundary limits"). In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Invesco may amend and/or terminate these boundary limits at any time in its sole discretion and will inform the Board of Trustees of any such changes. The Adviser did not waive fees and/or reimburse expenses during the period under these boundary limits.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from the affiliated money market funds on investments by the Fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds.

For the year ended October 31, 2025, the Adviser waived advisory fees of $78,576.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended October 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended October 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Class A, Class C, Class R, Class Y, Class R5 and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A, Class C and Class R shares (collectively, the "Plans"). The Fund, pursuant to the Class A Plan, reimburses IDI for its allocated share of expenses incurred for the period, up to a maximum annual rate of 0.25% of the average daily net assets of Class A shares. The Fund, pursuant to the Class C and Class R Plans, pays IDI compensation at the annual rate of 1.00% of the average daily net assets of Class C shares and 0.50% of the average daily net assets of Class R shares. The fees are accrued daily and paid monthly. Of the Plans payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended October 31, 2025, expenses incurred under the Plans are shown in the Statement of Operations as *Distribution fees*.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended October 31, 2025, IDI advised the Fund that IDI retained $541,931 in front-end sales commissions from the sale of Class A shares and $13,106 and $5,427 from Class A and Class C shares, respectively, for CDSC imposed upon redemptions by shareholders.

For the year ended October 31, 2025, the Fund incurred $163 in brokerage commissions with Invesco Capital Markets, Inc., an affiliate of the Adviser and IDI, for portfolio transactions executed on behalf of the Fund.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

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. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.

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 Adviser'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 October 31, 2025. 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** |
| <br>**Investments in Securities** |  |  |  |  |
| Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;&nbsp; $11364664512 | &nbsp;&nbsp;&nbsp;&nbsp; $179868026 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $11544532538 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 112400772 | &nbsp;&nbsp;&nbsp;&nbsp; 90516446 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 202917218 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $11477065284 | &nbsp;&nbsp;&nbsp;&nbsp; $270384472 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $11747449756 |

---

**12**

**Invesco Main Street Fund**<sup>®</sup>

------

**NOTE 4—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended October 31, 2025, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $322,612.

**NOTE 5—Trustees' and Officers' Fees and Benefits**

*Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and *Trustees' and Officers' Fees and Benefits* also include amounts accrued by the Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Finally, certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Fund may have certain former Trustees who also participate in a retirement plan and receive benefits under such plan. *Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Fund.

**NOTE 6—Cash Balances**

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

**NOTE 7—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** |
|  | **2025** | **2024** |
| Ordinary income\* | &nbsp;&nbsp; $158223547 | &nbsp;&nbsp;&nbsp;&nbsp; $56916123 |
| Long-term capital gain | &nbsp;&nbsp; 462215035 | &nbsp;&nbsp;&nbsp;&nbsp; 619519512 |
| Total distributions | &nbsp;&nbsp; $620438582 | &nbsp;&nbsp;&nbsp;&nbsp; $676435635 |

---

\* Includes short-term capital gain distributions, if any.

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2025** |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp; $59382020 |
| Undistributed long-term capital gain | &nbsp;&nbsp;&nbsp;&nbsp; 739261960 |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; 4916240062 |
| Net unrealized appreciation — foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; 39205 |
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (573721)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 6007581037 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $11721930563 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to wash sales.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund does not have a capital loss carryforward as of October 31, 2025.

**NOTE 8—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended October 31, 2025 was $4,857,813,592 and $5,873,038,132, respectively. As of October 31, 2025, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $5001638348 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (85398286)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $4916240062 |

---

Cost of investments for tax purposes is $6,831,209,694.

**13**

**Invesco Main Street Fund**<sup>®</sup>

------

**NOTE 9—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of equalization, on October 31, 2025, undistributed net investment income was increased by $82,082, undistributed net realized gain was decreased by $57,879,081 and shares of beneficial interest was increased by $57,796,999. This reclassification had no effect on the net assets of the Fund.

**NOTE 10—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**October 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**October 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**October 31, 2024** | **Year ended** <br>**October 31, 2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 4520907 | &nbsp;&nbsp;&nbsp; $273528346 | &nbsp;&nbsp;&nbsp; 5170715 | &nbsp;&nbsp;&nbsp; $281617323 |
| Class C | &nbsp;&nbsp;&nbsp; 420904 | &nbsp;&nbsp;&nbsp; 22267862 | &nbsp;&nbsp;&nbsp; 495535 | &nbsp;&nbsp;&nbsp; 23949230 |
| Class R | &nbsp;&nbsp;&nbsp; 709356 | &nbsp;&nbsp;&nbsp; 40943112 | &nbsp;&nbsp;&nbsp; 801223 | &nbsp;&nbsp;&nbsp; 42638259 |
| Class Y | &nbsp;&nbsp;&nbsp; 1985473 | &nbsp;&nbsp;&nbsp; 118846004 | &nbsp;&nbsp;&nbsp; 1492006 | &nbsp;&nbsp;&nbsp; 81070336 |
| Class R6 | &nbsp;&nbsp;&nbsp; 842066 | &nbsp;&nbsp;&nbsp; 51070561 | &nbsp;&nbsp;&nbsp; 1063664 | &nbsp;&nbsp;&nbsp; 58013649 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 8470403 | &nbsp;&nbsp;&nbsp; 507460971 | &nbsp;&nbsp;&nbsp; 11087562 | &nbsp;&nbsp;&nbsp; 546640690 |
| Class C | &nbsp;&nbsp;&nbsp; 225561 | &nbsp;&nbsp;&nbsp; 11891604 | &nbsp;&nbsp;&nbsp; 366692 | &nbsp;&nbsp;&nbsp; 16038009 |
| Class R | &nbsp;&nbsp;&nbsp; 317161 | &nbsp;&nbsp;&nbsp; 18208236 | &nbsp;&nbsp;&nbsp; 414851 | &nbsp;&nbsp;&nbsp; 19651857 |
| Class Y | &nbsp;&nbsp;&nbsp; 487312 | &nbsp;&nbsp;&nbsp; 28902450 | &nbsp;&nbsp;&nbsp; 606070 | &nbsp;&nbsp;&nbsp; 29595136 |
| Class R6 | &nbsp;&nbsp;&nbsp; 320691 | &nbsp;&nbsp;&nbsp; 19013789 | &nbsp;&nbsp;&nbsp; 609434 | &nbsp;&nbsp;&nbsp; 29738695 |
| **Automatic conversion of Class C shares to Class A shares:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 529024 | &nbsp;&nbsp;&nbsp; 31948580 | &nbsp;&nbsp;&nbsp; 590529 | &nbsp;&nbsp;&nbsp; 32727992 |
| Class C | &nbsp;&nbsp;&nbsp; (602849)<br>| &nbsp;&nbsp;&nbsp; (31948580)<br>| &nbsp;&nbsp;&nbsp; (667267)<br>| &nbsp;&nbsp;&nbsp; (32727992)<br>|
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (18711417)<br>| &nbsp;&nbsp;&nbsp; (1134563432)<br>| &nbsp;&nbsp;&nbsp; (18692472)<br>| &nbsp;&nbsp;&nbsp; (1027483600)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (662436)<br>| &nbsp;&nbsp;&nbsp; (35262468)<br>| &nbsp;&nbsp;&nbsp; (757288)<br>| &nbsp;&nbsp;&nbsp; (36931550)<br>|
| Class R | &nbsp;&nbsp;&nbsp; (1001481)<br>| &nbsp;&nbsp;&nbsp; (58304641)<br>| &nbsp;&nbsp;&nbsp; (1163414)<br>| &nbsp;&nbsp;&nbsp; (61773099)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (2168663)<br>| &nbsp;&nbsp;&nbsp; (129516846)<br>| &nbsp;&nbsp;&nbsp; (2062602)<br>| &nbsp;&nbsp;&nbsp; (112328776)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (1394272)<br>| &nbsp;&nbsp;&nbsp; (83727742)<br>| &nbsp;&nbsp;&nbsp; (4647163)<br>| &nbsp;&nbsp;&nbsp; (252171417)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; (5712260)<br>| &nbsp;&nbsp;&nbsp; $(349242194)<br>| &nbsp;&nbsp;&nbsp; (5291925)<br>| &nbsp;&nbsp;&nbsp; $(361735258)<br>|

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 13% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**14**

**Invesco Main Street Fund**<sup>®</sup>

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Equity Funds (Invesco Equity Funds) and Shareholders of Invesco Main Street Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Main Street Fund (one of the funds constituting AIM Equity Funds (Invesco Equity Funds), referred to hereafter as the "Fund") as of October 31, 2025, the related statement of operations for the year ended October 31, 2025, the statement of changes in net assets for each of the two years in the period ended October 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2025 and the financial highlights for each of the five years in the period ended October 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2025 by correspondence with the custodian, transfer agent and brokers. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

December 18, 2025

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**15**

**Invesco Main Street Fund**<sup>®</sup>

------

**Approval of Investment Advisory and Sub-Advisory Contracts** 

At meetings held on June 16, 2025, the Board of Trustees (the Board or the Trustees) of AIM Equity Funds (Invesco Equity Funds) as a whole, and the independent Trustees, who comprise over 75% of the Board, voting separately, approved the continuance of the Invesco Main Street Fund's<sup>®</sup> (the Fund) Master Investment Advisory Agreement with Invesco Advisers, Inc. (Invesco Advisers and the investment advisory agreement) and the Master Intergroup Sub-Advisory Contract for Mutual Funds with Invesco Asset Management Deutschland GmbH\*, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and separate sub-advisory contracts with Invesco Capital Management LLC and OppenheimerFunds, Inc. (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2025. After evaluating the factors discussed below, among others, the Board approved the renewal of the Fund's investment advisory agreement and the sub-advisory contracts and determined that the compensation payable thereunder by the Fund to Invesco Advisers and by Invesco Advisers to the Affiliated Sub-Advisers is fair and reasonable.

**The Board's Evaluation Process**

The Board has established an Investments Committee, which in turn has established Sub-Committees. The Sub-Committees meet regularly throughout the year with portfolio managers and other members of management to review information about the investment performance and portfolio attributes for those funds advised by Invesco Advisers (Invesco Funds) assigned to them. The Board has established additional standing and ad hoc committees that meet throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the Board's annual review process for the Invesco Funds' investment advisory agreement and sub-advisory contracts (the annual review process). In considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts, the Board took into account evaluations and reports that it received from its committees and sub-committees, as well as the information provided to the Board and its committees and sub-committees throughout the year.

As part of the annual review process, the Board reviews and considers information provided in response to requests for information submitted to management by the independent Trustees with assistance from legal counsel to the independent Trustees (independent legal counsel) and the Senior Officer, an officer of the Invesco Funds who reports directly to the independent Trustees. The Board receives comparative investment performance and fee and expense data regarding the Invesco Funds prepared by Broadridge Financial Solutions, Inc. (Broadridge), an independent provider of investment company data, as well as information on the composition of the peer groups and its methodology for determining peer groups. The Board also receives an independent written evaluation from the Senior Officer. The Senior Officer's evaluation is prepared as

part of his responsibility to manage the process by which the Invesco Funds' proposed management fees are negotiated during the annual review process to ensure they are negotiated in a manner that is at arms' length and reasonable in accordance with certain negotiated regulatory requirements. In addition to meetings with Invesco Advisers and fund counsel throughout the year and as part of meetings convened on May 6, 2025 and June 16-18, 2025, the independent Trustees also discussed the continuance of the investment advisory agreement and sub-advisory contracts in separate sessions with the Senior Officer and with independent legal counsel.

The discussion below includes summary information drawn in part from the Senior Officer's independent written evaluation with respect to the Fund's investment advisory agreement and sub-advisory contracts, as well as a discussion of the material factors and related conclusions that formed the basis for the Board's approval of the Fund's investment advisory agreement and sub-advisory contracts. The Trustees' review and conclusions are based on the comprehensive consideration of all information presented to them during the course of the year and are not the result of any single determinative factor. Moreover, one Trustee may have weighed a particular piece of information or factor differently than another Trustee.

**Factors and Conclusions and Summary of Independent Written Fee Evaluation**

*A.* *Nature, Extent and Quality of Services Provided by Invesco Advisers and the Affiliated Sub-Advisers*

The Board reviewed the nature, extent and quality of the advisory services provided to the Fund by Invesco Advisers under the Fund's investment advisory agreement, and the credentials and experience of the officers and employees of Invesco Advisers who provide these services, including the Fund's portfolio manager(s). The Board's review included consideration of Invesco Advisers' investment process and oversight, credit analysis, and research capabilities. The Board considered information regarding Invesco Advisers' programs for and resources devoted to risk management, including management of investment, enterprise, operational, liquidity, derivatives, valuation and compliance risks, and technology used to manage such risks. The Board received information regarding Invesco's methodology for compensating its investment professionals and the incentives and accountability it creates, as well as how it impacts Invesco's ability to attract and retain talent. The Board considered that Invesco Advisers has shown the willingness to commit resources to support investment in the business and to remain well-positioned to serve Fund shareholders including with regard to attracting and retaining qualified personnel on its investment teams and investing in technology. The Board received a description of, and reports related to, Invesco Advisers' global security program and business continuity plans and of its approach to data privacy and cybersecurity, including related testing. The Board also considered non-advisory services that Invesco Advisers and its affiliates provide to the Invesco Funds, such as various middle office and back office support functions, third party oversight,

internal audit, valuation, portfolio trading and legal and compliance. The Board considered Invesco Advisers' systems preparedness and ongoing investment to seek to manage, operate and oversee the Invesco Funds with minimal impact or disruption through challenging environments. The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in running an investment management business, as well as its commitment of financial and other resources to such business. The Board concluded that the nature, extent and quality of the services provided to the Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

The Board reviewed the services that may be provided to the Fund by the Affiliated Sub-Advisers under the sub-advisory contracts and the credentials and experience of the officers and employees of the Affiliated Sub-Advisers who provide these services. The Board noted the Affiliated Sub-Advisers' expertise with respect to certain asset classes and that the Affiliated Sub-Advisers have offices and personnel that are located in financial centers around the world. As a result, the Board noted that the Affiliated Sub-Advisers can provide research and investment analysis on the markets and economies of various countries and territories in which the Fund may invest, make recommendations regarding securities and assist with portfolio trading. The Board concluded that the sub-advisory contracts may benefit the Fund and its shareholders by permitting Invesco Advisers to use the resources and talents of the Affiliated Sub-Advisers in managing the Fund. The Board concluded that the nature, extent and quality of the services that may be provided to the Fund by the Affiliated Sub-Advisers supported the renewal of the sub-advisory contracts.

*B.* *Fund Investment Performance*

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement. The Board did not view Fund investment performance as a relevant factor in considering whether to approve the sub-advisory contracts for the Fund, as no Affiliated Sub-Adviser currently manages assets of the Fund.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the S&P 500® Index (Index). The Board noted that performance of Class A shares of the Fund was in the third quintile of its performance universe for the one year period and the fourth quintile for the three and five year periods (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Class A shares of the Fund was reasonably comparable to the performance of the Index for the one year period and below the performance of the Index for the three and five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed

**16**

**Invesco Main Street Fund**<sup>®</sup>

------

more recent Fund performance as well as other performance metrics, which did not change its conclusions.

*C.* *Advisory and Sub-Advisory Fees and Fund Expenses*

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Class A shares of the Fund were below and reasonably comparable to, respectively, the median contractual management and actual management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board requested and received additional information regarding the Fund's actual and contractual management fees and the levels of the Fund's breakpoints in light of current asset levels.

The Board noted that Invesco Advisers has voluntarily agreed to waive fees and/or limit expenses of the Fund for an indefinite period until further notice to the Board in an amount necessary to limit total annual operating expenses to a specified percentage of average daily net assets for each class of the Fund.

The Board also considered the fees charged by Invesco Advisers and its affiliates to other client accounts that are similarly managed. Invesco Advisers reviewed with the Board differences in the scope of services it provides to the Invesco Funds relative to that provided by Invesco Advisers and its affiliates to certain other types of client accounts, including, among others: management of cash flows as a result of redemptions and purchases; necessary infrastructure such as officers, office space, technology, legal and distribution; oversight of service providers; costs and business risks associated with launching new funds and sponsoring and maintaining the product line; and compliance with federal and state laws and regulations. Invesco Advisers also advised the Board that many of the similarly managed client accounts have all-inclusive fee structures, which are not easily un-bundled.

The Board also compared the Fund's advisory fee rate before the application of advisory fee waivers/expense limitations to the effective advisory fee rates before the application of advisory fee waivers/expense limitations of other similarly managed third-party mutual funds advised or sub-advised by Invesco Advisers and its affiliates, based on asset balances as of December 31, 2024.

The Board also considered the services that may be provided by the Affiliated Sub-Advisers pursuant to the sub-advisory contracts, as well as the fees

payable by Invesco Advisers to the Affiliated Sub-Advisers pursuant to the sub-advisory contracts.

*D.* *Economies of Scale and Breakpoints*

The Board considered the extent to which there may be economies of scale in the provision of advisory services to the Fund and the Invesco Funds, and the extent to which such economies of scale are shared with the Fund and the Invesco Funds. The Board acknowledged the limitations in calculating and measuring economies of scale at the individual fund level, noting that only indicative and estimated measures are available at the individual fund level and that such measures are subject to uncertainty. The Board considered that the Fund benefits from economies of scale through contractual breakpoints in the Fund's advisory fee schedule, which generally operate to reduce the Fund's expense ratio as it grows in size. The Board considered information from Invesco Advisers regarding the levels of the Fund's breakpoints in light of current assets. The Board noted that the Fund also shares in economies of scale through Invesco Advisers' ability to negotiate lower fee arrangements with third party service providers. The Board noted that the Fund may also benefit from economies of scale through initial fee setting, fee waivers and expense reimbursements, as well as Invesco Advisers' management of significant assets and investment in its business, including investments in business infrastructure, technology and cybersecurity.

*E.* *Profitability and Financial Resources*

The Board reviewed information from Invesco Advisers concerning the costs of the advisory and other services that Invesco Advisers and its affiliates provide to the Fund and the Invesco Funds and the profitability of Invesco Advisers and its affiliates in providing these services in the aggregate and on an individual fund-by-fund basis. The Board considered the methodology used for calculating profitability and the periodic review and enhancement of such methodology. The Board noted that Invesco Advisers continues to operate at a net profit from services Invesco Advisers and its affiliates provide to the Invesco Funds in the aggregate and to most Invesco Funds individually. The Board considered that profits to Invesco Advisers can vary significantly depending on the particular Invesco Fund, with some Invesco Funds showing indicative losses to Invesco Advisers and others showing indicative profits at healthy levels, and that Invesco Advisers' support for and commitment to an Invesco Fund are not, however, solely dependent on the profits attributed to such Fund. The Board did not deem the level of profits realized by Invesco Advisers and its affiliates from providing such services to be excessive, given the nature, extent and quality of the services provided. The Board noted that Invesco Advisers provided information demonstrating that Invesco Advisers is financially sound and has the resources necessary to perform its obligations under the investment advisory agreement, and provided representations indicating that the Affiliated Sub-Advisers are financially sound and have the resources necessary to perform their obligations under the sub-advisory contracts. The Board noted the cyclical and competitive nature of the global asset management industry.

*F.* *Collateral Benefits to Invesco Advisers and its Affiliates*

The Board considered various other benefits received by Invesco Advisers and its affiliates from the relationship with the Fund, including the fees received for providing administrative, transfer

agency and distribution services to the Fund. The Board received comparative information regarding fees charged for these services, including information provided by Broadridge and other independent sources. The Board reviewed the performance of Invesco Advisers and its affiliates in providing these services and the organizational structure employed to provide these services. The Board noted that these services are provided to the Fund pursuant to written contracts that are reviewed and subject to approval on an annual basis by the Board based on its reasonable business judgement and in accordance with applicable regulatory guidance.

The Board considered the benefits realized by Invesco Advisers and the Affiliated Sub-Advisers as a result of portfolio brokerage transactions executed through "soft dollar" arrangements. The Board noted that soft dollar arrangements may result in the Fund bearing costs to purchase research that may be used by Invesco Advisers or the Affiliated Sub-Advisers with other clients and may reduce Invesco Advisers' or the Affiliated Sub-Advisers' expenses. The Board also considered that it receives from Invesco Advisers periodic reports that include a representation to the effect that these arrangements are consistent with regulatory requirements. The Board did not deem the soft dollar arrangements to be inappropriate.

The Board considered that the Fund's uninvested cash and cash collateral from any securities lending arrangements may be invested in registered money market funds or, with regard to securities lending cash collateral, unregistered funds that comply with Rule 2a-7 under the Investment Company Act of 1940 (collectively referred to as "affiliated money market funds") advised by Invesco Advisers. The Board considered information regarding the returns of the affiliated money market funds relative to comparable overnight investments, as well as the fees paid by the affiliated money market funds to Invesco Advisers and its affiliates. In this regard, the Board noted that Invesco Advisers receives advisory fees from these affiliated money market funds attributable to the Fund's investments. The Board also noted that Invesco Advisers has contractually agreed to waive through varying periods an amount equal to 100% of the net advisory fee Invesco Advisers receives from the affiliated money market funds with respect to the Fund's investment in the affiliated money market funds of uninvested cash, but not cash collateral. The Board concluded that the advisory fees payable to Invesco Advisers from the Fund's investment of cash collateral from any securities lending arrangements in the affiliated money market funds are for services that are not duplicative of services provided by Invesco Advisers to the Fund.

The Board considered that Invesco Advisers may serve as the Fund's affiliated securities lending agent and evaluated the benefits realized by Invesco Advisers when serving in such role, including the compensation received. The Board considered Invesco Advisers' securities lending platform and corporate governance structure for securities lending, including Invesco Advisers' Securities Lending Governance Committee and its related responsibilities. The Board noted that to the extent the Fund utilizes Invesco Advisers as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a

**17**

**Invesco Main Street Fund**<sup>®</sup>

------

direct agent lender and receive compensation for those services without obtaining exemptive relief. The Board considered information provided by Invesco Advisers related to the performance of Invesco Advisers as securities lending agent, including a summary of the securities lending services provided to the Fund by Invesco Advisers and the compensation paid to Invesco Advisers for such services, as well as any revenues generated for the Fund in connection with such securities lending activity and the allocation of such revenue between the Fund and Invesco Advisers.

The Board also received information about commissions that an affiliated broker may receive for executing certain trades for the Fund. Invesco Advisers and the Affiliated Sub-Advisers advised the Board of the benefits to the Fund of executing trades through the affiliated broker and that such trades were executed in compliance with rules under the federal securities laws and consistent with best execution obligations.

\* Effective as of August 29, 2025, Invesco Asset Management Deutschland GmbH merged into Invesco Management S.A.

**18**

**Invesco Main Street Fund**<sup>®</sup>

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended October 31, 2025:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Long-Term Capital Gain Distributions | &nbsp;&nbsp; $520012035 |
| Qualified Dividend Income\* | &nbsp;&nbsp; 88.94% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 87.42% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 0.00% |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 0.00% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

---

| | |
|:---|:---|
| **Non-Resident Alien Shareholders** |  |
| Short-Term Capital Gain Distributions | &nbsp;&nbsp; $88204884 |

---

**19**

**Invesco Main Street Fund**<sup>®</sup>

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

The statement regarding basis for approval of investment advisory contracts can be found in the Approval of Investment Advisory and Sub-Advisory Contracts section of this report.

**20**

**Invesco Main Street Fund**<sup>®</sup>

------

![](img220a97f61.jpg)

SEC file number(s): 811-01424 and 002-25469

Invesco Distributors, Inc.

O-MST-NCSR

------

![](img6b272ff41.jpg)

------

**Annual Financial Statements and Other Information**

**October 31, 2025**

**Invesco Rising Dividends Fund**

Nasdaq:

A: OARDX ■ C: OCRDX ■ R: ONRDX ■ Y: OYRDX ■ R5: RSDQX ■ R6: OIRDX

------

---

| | |
|:---|:---|
| [2](#xx_0ec2167e-e0b8-4e2b-adc8-e93f80f92aaf_SOI-Continued-688_1) | Schedule of Investments |
| [4](#xx_0ec2167e-e0b8-4e2b-adc8-e93f80f92aaf_FS-Continued-688_1) | Financial Statements |
| [7](#xx_0ec2167e-e0b8-4e2b-adc8-e93f80f92aaf_FS-Continued-688_4) | Financial Highlights |
| [8](#xx_0ec2167e-e0b8-4e2b-adc8-e93f80f92aaf_NTF-Continued-688_1) | Notes to Financial Statements |
| [14](#xx_0ec2167e-e0b8-4e2b-adc8-e93f80f92aaf_ARS-Continued-688_1) | Report of Independent Registered Public Accounting Firm |
| [15](#xx_0ec2167e-e0b8-4e2b-adc8-e93f80f92aaf_AOC-Continued-688_1) | Approval of Investment Advisory and Sub-Advisory Contracts |
| [17](#xx_0ec2167e-e0b8-4e2b-adc8-e93f80f92aaf_TI-Continued-688_1) | Tax Information |
| [18](#xx_0ec2167e-e0b8-4e2b-adc8-e93f80f92aaf_OIRSR-Continued-688_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments**<sup>(a)</sup> 

*October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests–99.43%** | **Common Stocks & Other Equity Interests–99.43%** | **Common Stocks & Other Equity Interests–99.43%** |
| **Aerospace & Defense–2.70%** | **Aerospace & Defense–2.70%** | **Aerospace & Defense–2.70%** |
| Airbus SE (France) | 167437 | &nbsp;&nbsp; $41285113 |
| Howmet Aerospace, Inc. | 128097 | &nbsp;&nbsp; 26381577 |
| Northrop Grumman Corp. | 42810 | &nbsp;&nbsp; 24977495 |
|  |  | &nbsp;&nbsp; 92644185 |
| **Agricultural & Farm Machinery–1.01%** | **Agricultural & Farm Machinery–1.01%** | **Agricultural & Farm Machinery–1.01%** |
| Deere & Co. | 75077 | &nbsp;&nbsp; 34657795 |
| **Application Software–2.56%** | **Application Software–2.56%** | **Application Software–2.56%** |
| Intuit, Inc. | 69154 | &nbsp;&nbsp; 46163752 |
| Salesforce, Inc. | 160014 | &nbsp;&nbsp; 41669246 |
|  |  | &nbsp;&nbsp; 87832998 |
| **Asset Management & Custody Banks–0.83%** | **Asset Management & Custody Banks–0.83%** | **Asset Management & Custody Banks–0.83%** |
| KKR & Co., Inc., Class A | 240790 | &nbsp;&nbsp; 28492681 |
| **Biotechnology–1.55%** | **Biotechnology–1.55%** | **Biotechnology–1.55%** |
| AbbVie, Inc. | 243618 | &nbsp;&nbsp; 53118469 |
| **Building Products–1.55%** | **Building Products–1.55%** | **Building Products–1.55%** |
| Carlisle Cos., Inc. | 74316 | &nbsp;&nbsp; 24156416 |
| Johnson Controls International PLC | 254720 | &nbsp;&nbsp; 29137421 |
|  |  | &nbsp;&nbsp; 53293837 |
| **Communications Equipment–1.27%** | **Communications Equipment–1.27%** | **Communications Equipment–1.27%** |
| Cisco Systems, Inc. | 595203 | &nbsp;&nbsp; 43515291 |
| **Construction Materials–1.11%** | **Construction Materials–1.11%** | **Construction Materials–1.11%** |
| CRH PLC | 318729 | &nbsp;&nbsp; 37960624 |
| **Consumer Finance–2.11%** | **Consumer Finance–2.11%** | **Consumer Finance–2.11%** |
| American Express Co. | 109214 | &nbsp;&nbsp; 39396766 |
| Capital One Financial Corp. | 150438 | &nbsp;&nbsp; 33094856 |
|  |  | &nbsp;&nbsp; 72491622 |
| **Consumer Staples Merchandise Retail–1.77%** | **Consumer Staples Merchandise Retail–1.77%** | **Consumer Staples Merchandise Retail–1.77%** |
| Walmart, Inc. | 602103 | &nbsp;&nbsp; 60920781 |
| **Data Center REITs–0.80%** | **Data Center REITs–0.80%** | **Data Center REITs–0.80%** |
| Digital Realty Trust, Inc. | 160210 | &nbsp;&nbsp; 27301386 |
| **Diversified Banks–5.62%** | **Diversified Banks–5.62%** | **Diversified Banks–5.62%** |
| Bank of America Corp. | 794059 | &nbsp;&nbsp; 42442454 |
| JPMorgan Chase & Co. | 320944 | &nbsp;&nbsp; 99852097 |
| Wells Fargo & Co. | 581537 | &nbsp;&nbsp; 50576273 |
|  |  | &nbsp;&nbsp; 192870824 |
| **Electric Utilities–1.18%** | **Electric Utilities–1.18%** | **Electric Utilities–1.18%** |
| PPL Corp. | 1109419 | &nbsp;&nbsp; 40515982 |
| **Electrical Components & Equipment–3.01%** | **Electrical Components & Equipment–3.01%** | **Electrical Components & Equipment–3.01%** |
| Eaton Corp. PLC | 82903 | &nbsp;&nbsp; 31632469 |
| Emerson Electric Co. | 256354 | &nbsp;&nbsp; 35779328 |
| Rockwell Automation, Inc. | 97543 | &nbsp;&nbsp; 35930939 |
|  |  | &nbsp;&nbsp; 103342736 |
| **Electronic Manufacturing Services–1.11%** | **Electronic Manufacturing Services–1.11%** | **Electronic Manufacturing Services–1.11%** |
| TE Connectivity PLC (Switzerland) | 154518 | &nbsp;&nbsp; 38167491 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Financial Exchanges & Data–1.14%** | **Financial Exchanges & Data–1.14%** | **Financial Exchanges & Data–1.14%** |
| Cboe Global Markets, Inc. | 159662 | &nbsp;&nbsp; $39219374 |
| **Food Distributors–0.73%** | **Food Distributors–0.73%** | **Food Distributors–0.73%** |
| Sysco Corp. | 335661 | &nbsp;&nbsp; 24932899 |
| **Health Care Distributors–1.19%** | **Health Care Distributors–1.19%** | **Health Care Distributors–1.19%** |
| McKesson Corp. | 50193 | &nbsp;&nbsp; 40723589 |
| **Health Care Equipment–1.82%** | **Health Care Equipment–1.82%** | **Health Care Equipment–1.82%** |
| Medtronic PLC | 381990 | &nbsp;&nbsp; 34646493 |
| Stryker Corp. | 78401 | &nbsp;&nbsp; 27929572 |
|  |  | &nbsp;&nbsp; 62576065 |
| **Health Care Services–0.80%** | **Health Care Services–0.80%** | **Health Care Services–0.80%** |
| CVS Health Corp. | 352918 | &nbsp;&nbsp; 27580542 |
| **Home Improvement Retail–1.57%** | **Home Improvement Retail–1.57%** | **Home Improvement Retail–1.57%** |
| Lowe's Cos., Inc. | 226451 | &nbsp;&nbsp; 53924778 |
| **Homebuilding–0.58%** | **Homebuilding–0.58%** | **Homebuilding–0.58%** |
| D.R. Horton, Inc. | 133085 | &nbsp;&nbsp; 19840312 |
| **Hotels, Resorts & Cruise Lines–1.76%** | **Hotels, Resorts & Cruise Lines–1.76%** | **Hotels, Resorts & Cruise Lines–1.76%** |
| Marriott International, Inc., Class A | 113034 | &nbsp;&nbsp; 29454400 |
| Royal Caribbean Cruises Ltd. | 107818 | &nbsp;&nbsp; 30925437 |
|  |  | &nbsp;&nbsp; 60379837 |
| **Household Products–1.58%** | **Household Products–1.58%** | **Household Products–1.58%** |
| Procter & Gamble Co. (The) | 359966 | &nbsp;&nbsp; 54128087 |
| **Industrial Machinery & Supplies & Components–1.98%** | **Industrial Machinery & Supplies & Components–1.98%** | **Industrial Machinery & Supplies & Components–1.98%** |
| Lincoln Electric Holdings, Inc. | 87731 | &nbsp;&nbsp; 20568533 |
| Parker-Hannifin Corp. | 61505 | &nbsp;&nbsp; 47532909 |
|  |  | &nbsp;&nbsp; 68101442 |
| **Industrial REITs–1.45%** | **Industrial REITs–1.45%** | **Industrial REITs–1.45%** |
| Prologis, Inc. | 401500 | &nbsp;&nbsp; 49822135 |
| **Insurance Brokers–0.92%** | **Insurance Brokers–0.92%** | **Insurance Brokers–0.92%** |
| Marsh & McLennan Cos., Inc. | 177334 | &nbsp;&nbsp; 31592052 |
| **Integrated Oil & Gas–1.29%** | **Integrated Oil & Gas–1.29%** | **Integrated Oil & Gas–1.29%** |
| Chevron Corp. | 281776 | &nbsp;&nbsp; 44441711 |
| **Integrated Telecommunication Services–0.83%** | **Integrated Telecommunication Services–0.83%** | **Integrated Telecommunication Services–0.83%** |
| AT&T, Inc. | 1147491 | &nbsp;&nbsp; 28400402 |
| **Interactive Media & Services–8.75%** | **Interactive Media & Services–8.75%** | **Interactive Media & Services–8.75%** |
| Alphabet, Inc., Class A | 768233 | &nbsp;&nbsp; 216019437 |
| Meta Platforms, Inc., Class A | 130200 | &nbsp;&nbsp; 84415170 |
|  |  | &nbsp;&nbsp; 300434607 |
| **Investment Banking & Brokerage–1.36%** | **Investment Banking & Brokerage–1.36%** | **Investment Banking & Brokerage–1.36%** |
| Charles Schwab Corp. (The) | 495571 | &nbsp;&nbsp; 46841371 |
| **Life Sciences Tools & Services–1.54%** | **Life Sciences Tools & Services–1.54%** | **Life Sciences Tools & Services–1.54%** |
| Danaher Corp. | 167955 | &nbsp;&nbsp; 36174148 |
| Lonza Group AG (Switzerland) | 24283 | &nbsp;&nbsp; 16768176 |
|  |  | &nbsp;&nbsp; 52942324 |
| **Managed Health Care–0.64%** | **Managed Health Care–0.64%** | **Managed Health Care–0.64%** |
| UnitedHealth Group, Inc. | 64501 | &nbsp;&nbsp; 22030962 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**Invesco Rising Dividends Fund**

------

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Multi-Utilities–1.36%** | **Multi-Utilities–1.36%** | **Multi-Utilities–1.36%** |
| Ameren Corp. | 251641 | &nbsp;&nbsp; $25672415 |
| CMS Energy Corp. | 286417 | &nbsp;&nbsp; 21065970 |
|  |  | &nbsp;&nbsp; 46738385 |
| **Oil & Gas Exploration & Production–1.19%** | **Oil & Gas Exploration & Production–1.19%** | **Oil & Gas Exploration & Production–1.19%** |
| ConocoPhillips | 460694 | &nbsp;&nbsp; 40937269 |
| **Oil & Gas Storage & Transportation–0.72%** | **Oil & Gas Storage & Transportation–0.72%** | **Oil & Gas Storage & Transportation–0.72%** |
| Williams Cos., Inc. (The) | 428933 | &nbsp;&nbsp; 24822353 |
| **Paper & Plastic Packaging Products & Materials–0.30%** | **Paper & Plastic Packaging Products & Materials–0.30%** | **Paper & Plastic Packaging Products & Materials–0.30%** |
| Smurfit WestRock PLC | 279701 | &nbsp;&nbsp; 10326561 |
| **Pharmaceuticals–2.61%** | **Pharmaceuticals–2.61%** | **Pharmaceuticals–2.61%** |
| Eli Lilly and Co. | 63423 | &nbsp;&nbsp; 54725170 |
| Johnson & Johnson | 183925 | &nbsp;&nbsp; 34737914 |
|  |  | &nbsp;&nbsp; 89463084 |
| **Property & Casualty Insurance–1.82%** | **Property & Casualty Insurance–1.82%** | **Property & Casualty Insurance–1.82%** |
| American International Group, Inc. | 430637 | &nbsp;&nbsp; 34003097 |
| Hartford Insurance Group, Inc. (The) | 228100 | &nbsp;&nbsp; 28325458 |
|  |  | &nbsp;&nbsp; 62328555 |
| **Rail Transportation–1.15%** | **Rail Transportation–1.15%** | **Rail Transportation–1.15%** |
| Union Pacific Corp. | 178688 | &nbsp;&nbsp; 39377475 |
| **Restaurants–1.18%** | **Restaurants–1.18%** | **Restaurants–1.18%** |
| McDonald's Corp. | 136114 | &nbsp;&nbsp; 40620501 |
| **Semiconductor Materials & Equipment–1.10%** | **Semiconductor Materials & Equipment–1.10%** | **Semiconductor Materials & Equipment–1.10%** |
| ASML Holding N.V., New York Shares <br> (Netherlands) | 35589 | &nbsp;&nbsp; 37696936 |
| **Semiconductors–10.84%** | **Semiconductors–10.84%** | **Semiconductors–10.84%** |
| Broadcom, Inc. | 362846 | &nbsp;&nbsp; 134118767 |
| NVIDIA Corp. | 1037960 | &nbsp;&nbsp; 210176520 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Semiconductors–(continued)** | **Semiconductors–(continued)** | **Semiconductors–(continued)** |
| Texas Instruments, Inc. | 172183 | &nbsp;&nbsp; $27800667 |
|  |  | &nbsp;&nbsp; 372095954 |
| **Specialty Chemicals–0.62%** | **Specialty Chemicals–0.62%** | **Specialty Chemicals–0.62%** |
| DuPont de Nemours, Inc. | 261338 | &nbsp;&nbsp; 21338248 |
| **Systems Software–9.05%** | **Systems Software–9.05%** | **Systems Software–9.05%** |
| Microsoft Corp. | 509721 | &nbsp;&nbsp; 263938631 |
| Oracle Corp. | 177269 | &nbsp;&nbsp; 46552612 |
|  |  | &nbsp;&nbsp; 310491243 |
| **Technology Hardware, Storage & Peripherals–5.33%** | **Technology Hardware, Storage & Peripherals–5.33%** | **Technology Hardware, Storage & Peripherals–5.33%** |
| Apple, Inc. | 677046 | &nbsp;&nbsp; 183052927 |
| **Telecom Tower REITs–0.89%** | **Telecom Tower REITs–0.89%** | **Telecom Tower REITs–0.89%** |
| American Tower Corp. | 170292 | &nbsp;&nbsp; 30478862 |
| **Tobacco–1.22%** | **Tobacco–1.22%** | **Tobacco–1.22%** |
| Philip Morris International, Inc. | 290591 | &nbsp;&nbsp; 41940999 |
| **Transaction & Payment Processing Services–1.94%** | **Transaction & Payment Processing Services–1.94%** | **Transaction & Payment Processing Services–1.94%** |
| Visa, Inc., Class A | 195646 | &nbsp;&nbsp; 66664418 |
| Total Common Stocks & Other Equity Interests <br> (Cost $1,931,256,348) | Total Common Stocks & Other Equity Interests <br> (Cost $1,931,256,348) | &nbsp;&nbsp; 3413412961 |
| **Money Market Funds–0.48%** | **Money Market Funds–0.48%** | **Money Market Funds–0.48%** |
| Invesco Government & Agency Portfolio, <br> Institutional Class, 4.06%<sup>(b)(c)</sup>  | 5678665 | &nbsp;&nbsp; 5678665 |
| Invesco Treasury Portfolio, Institutional <br> Class, 3.96%<sup>(b)(c)</sup>  | 10676000 | &nbsp;&nbsp; 10676000 |
| Total Money Market Funds (Cost $16,354,665) | Total Money Market Funds (Cost $16,354,665) | &nbsp;&nbsp; 16354665 |
| TOTAL INVESTMENTS IN SECURITIES–99.91% <br> (Cost $1,947,611,013) | TOTAL INVESTMENTS IN SECURITIES–99.91% <br> (Cost $1,947,611,013) | &nbsp;&nbsp; 3429767626 |
| OTHER ASSETS LESS LIABILITIES—0.09% | OTHER ASSETS LESS LIABILITIES—0.09% | &nbsp;&nbsp; 3027559 |
| NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $3432795185 |

---

Investment Abbreviations:

REIT – Real Estate Investment Trust

Notes to Schedule of Investments:

<sup>(a)</sup> 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. 

<sup>(b)</sup> Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the fiscal year ended October 31, 2025. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**October 31, 2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**October 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, <br> Institutional Class<br>| $11117766 | &nbsp;&nbsp; $135298492 | &nbsp;&nbsp; $(140737593) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $5678665 | &nbsp;&nbsp; $607842 |
| Invesco Treasury Portfolio, Institutional Class | 20777186 | &nbsp;&nbsp; 251268627 | &nbsp;&nbsp; (261369813) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 10676000 | &nbsp;&nbsp; 1124410 |
| **Investments Purchased with Cash Collateral** <br> **from Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | 2825955 | &nbsp;&nbsp; 79406994 | &nbsp;&nbsp; (82232949) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 183,610\* |
| Invesco Private Prime Fund | 7326238 | &nbsp;&nbsp; 169923583 | &nbsp;&nbsp; (177252180) | &nbsp;&nbsp; - | &nbsp;&nbsp; 2359 | &nbsp;&nbsp; - | &nbsp;&nbsp; 490,682\* |
| Total | $42047145 | &nbsp;&nbsp; $635897696 | &nbsp;&nbsp; $(661592535) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $2359 | &nbsp;&nbsp; $16354665 | &nbsp;&nbsp; $2406544 |

---

\* Represents the income earned on the investment of cash collateral, which is included in securities lending income on the Statement of Operations. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any. 

<sup>(c)</sup> The rate shown is the 7-day SEC standardized yield as of October 31, 2025.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**Invesco Rising Dividends Fund**

------

**Statement of Assets and Liabilities**

*October 31, 2025*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $1,931,256,348)<br>| &nbsp;&nbsp; $3413412961 |
| Investments in affiliated money market funds, at value <br> (Cost $16,354,665)<br>| &nbsp;&nbsp; 16354665 |
| Cash | &nbsp;&nbsp; 3000000 |
| Receivable for: |  |
| Fund shares sold | &nbsp;&nbsp; 490634 |
| Dividends | &nbsp;&nbsp; 2420610 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 171958 |
| Other assets | &nbsp;&nbsp; 69079 |
| Total assets | &nbsp;&nbsp; 3435919907 |
| **Liabilities:** |  |
| Payable for: |  |
| Fund shares reacquired | &nbsp;&nbsp; 1442012 |
| Accrued fees to affiliates | &nbsp;&nbsp; 1291437 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 3329 |
| Accrued other operating expenses | &nbsp;&nbsp; 101432 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 286512 |
| Total liabilities | &nbsp;&nbsp; 3124722 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $3432795185 |
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $1710854957 |
| Distributable earnings | &nbsp;&nbsp; 1721940228 |
|  | &nbsp;&nbsp; $3432795185 |

---

---

| | |
|:---|:---|
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $2748743100 |
| Class C | &nbsp;&nbsp; $120885420 |
| Class R | &nbsp;&nbsp; $134081824 |
| Class Y | &nbsp;&nbsp; $366251830 |
| Class R5 | &nbsp;&nbsp; $15171 |
| Class R6 | &nbsp;&nbsp; $62817840 |
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 97050200 |
| Class C | &nbsp;&nbsp; 5682708 |
| Class R | &nbsp;&nbsp; 4783592 |
| Class Y | &nbsp;&nbsp; 12215926 |
| Class R5 | &nbsp;&nbsp; 536 |
| Class R6 | &nbsp;&nbsp; 2103063 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $28.32 |
| Maximum offering price per share <br>(Net asset value of $28.32 ÷ 94.50%)<br>| &nbsp;&nbsp; $29.97 |
| Class C: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $21.27 |
| Class R: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $28.03 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $29.98 |
| Class R5: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $28.30 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $29.87 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**Invesco Rising Dividends Fund**

------

**Statement of Operations**

*For the year ended October 31, 2025* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Dividends (net of foreign withholding taxes of $258,567) | &nbsp;&nbsp; $50748820 |
| Dividends from affiliated money market funds (includes net securities lending income of $17,595) | &nbsp;&nbsp; 1749847 |
| Total investment income | &nbsp;&nbsp; 52498667 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 18813883 |
| Administrative services fees | &nbsp;&nbsp; 457806 |
| Custodian fees | &nbsp;&nbsp; 20773 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 6452388 |
| Class C | &nbsp;&nbsp; 1214305 |
| Class R | &nbsp;&nbsp; 630551 |
| Transfer agent fees — A, C, R and Y | &nbsp;&nbsp; 3308097 |
| Transfer agent fees — R5 | &nbsp;&nbsp; 4 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 16853 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 61020 |
| Registration and filing fees | &nbsp;&nbsp; 138066 |
| Reports to shareholders | &nbsp;&nbsp; 134717 |
| Professional services fees | &nbsp;&nbsp; 85802 |
| Other | &nbsp;&nbsp; 54303 |
| Total expenses | &nbsp;&nbsp; 31388568 |
| Less: Fees waived and/or expense offset arrangement(s) | &nbsp;&nbsp; (156100)<br>|
| Net expenses | &nbsp;&nbsp; 31232468 |
| Net investment income | &nbsp;&nbsp; 21266199 |
| **Realized and unrealized gain from:** |  |
| Net realized gain from: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 255698100 |
| Affiliated investment securities | &nbsp;&nbsp; 2359 |
| Foreign currencies | &nbsp;&nbsp; 6951 |
|  | &nbsp;&nbsp; 255707410 |
| Change in net unrealized appreciation of: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 255332604 |
| Foreign currencies | &nbsp;&nbsp; 1447 |
|  | &nbsp;&nbsp; 255334051 |
| Net realized and unrealized gain | &nbsp;&nbsp; 511041461 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $532307660 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**Invesco Rising Dividends Fund**

------

**Statement of Changes in Net Assets**

*For the years ended October 31, 2025 and 2024* 

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| **Operations:** |  |  |
| Net investment income | &nbsp;&nbsp; $21266199 | &nbsp;&nbsp; $27256011 |
| Net realized gain | &nbsp;&nbsp; 255707410 | &nbsp;&nbsp; 367958781 |
| Change in net unrealized appreciation | &nbsp;&nbsp; 255334051 | &nbsp;&nbsp; 419028531 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 532307660 | &nbsp;&nbsp; 814243323 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (291861074)<br>| &nbsp;&nbsp; (166964811)<br>|
| Class C | &nbsp;&nbsp; (17459914)<br>| &nbsp;&nbsp; (10649949)<br>|
| Class R | &nbsp;&nbsp; (14181051)<br>| &nbsp;&nbsp; (8009022)<br>|
| Class Y | &nbsp;&nbsp; (37992848)<br>| &nbsp;&nbsp; (22041428)<br>|
| Class R5 | &nbsp;&nbsp; (1712)<br>| &nbsp;&nbsp; (993)<br>|
| Class R6 | &nbsp;&nbsp; (6290423)<br>| &nbsp;&nbsp; (3260208)<br>|
| Total distributions from distributable earnings | &nbsp;&nbsp; (367787022)<br>| &nbsp;&nbsp; (210926411)<br>|
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; 63455158 | &nbsp;&nbsp; (32511046)<br>|
| Class C | &nbsp;&nbsp; (8014898)<br>| &nbsp;&nbsp; (16292285)<br>|
| Class R | &nbsp;&nbsp; 2048645 | &nbsp;&nbsp; (2027979)<br>|
| Class Y | &nbsp;&nbsp; 8873508 | &nbsp;&nbsp; (5072399)<br>|
| Class R6 | &nbsp;&nbsp; 4389859 | &nbsp;&nbsp; 6099298 |
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; 70752272 | &nbsp;&nbsp; (49804411)<br>|
| Net increase in net assets | &nbsp;&nbsp; 235272910 | &nbsp;&nbsp; 553512501 |
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 3197522275 | &nbsp;&nbsp; 2644009774 |
| End of year | &nbsp;&nbsp; $3432795185 | &nbsp;&nbsp; $3197522275 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**Invesco Rising Dividends Fund**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**(loss)** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 10/31/25 | $27.04 | $0.17 | $4.22 | $4.39 | $(0.22)<br>| $(2.89)<br>| $(3.11)<br>| $28.32 | 17.72<br> %<br>| &nbsp;&nbsp; $2748743 | 0.96<br> %<br>| 0.96<br> %<br>| 0.67<br> %<br>| 34<br> %<br>|
| Year ended 10/31/24 | 22.10 | 0.23 | 6.47 | 6.70 | (0.22)<br>| (1.54)<br>| (1.76)<br>| 27.04 | 31.76 | &nbsp;&nbsp; 2551130 | 0.98 | 0.98 | 0.90 | 31 |
| Year ended 10/31/23 | 21.76 | 0.22 | 1.45 | 1.67 | (0.26)<br>| (1.07)<br>| (1.33)<br>| 22.10 | 7.74 | &nbsp;&nbsp; 2102472 | 0.99 | 0.99 | 0.99 | 29 |
| Year ended 10/31/22 | 27.44 | 0.20 | (2.67)<br>| (2.47)<br>| (0.12)<br>| (3.09)<br>| (3.21)<br>| 21.76 | (10.33)<br>| &nbsp;&nbsp; 2085512 | 0.96 | 0.96 | 0.87 | 38 |
| Year ended 10/31/21 | 20.52 | 0.15 | 7.30 | 7.45 | (0.15)<br>| (0.38)<br>| (0.53)<br>| 27.44 | 36.83 | &nbsp;&nbsp; 2497385 | 1.00 | 1.00 | 0.62 | 30 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 10/31/25 | 21.01 | (0.02)<br>| 3.19 | 3.17 | (0.02)<br>| (2.89)<br>| (2.91)<br>| 21.27 | 16.81 | &nbsp;&nbsp; 120885 | 1.71 | 1.71 | (0.08)<br>| 34 |
| Year ended 10/31/24 | 17.48 | 0.03 | 5.07 | 5.10 | (0.03)<br>| (1.54)<br>| (1.57)<br>| 21.01 | 30.81 | &nbsp;&nbsp; 127577 | 1.73 | 1.73 | 0.15 | 31 |
| Year ended 10/31/23 | 17.37 | 0.04 | 1.15 | 1.19 | (0.01)<br>| (1.07)<br>| (1.08)<br>| 17.48 | 6.90 | &nbsp;&nbsp; 119923 | 1.74 | 1.74 | 0.24 | 29 |
| Year ended 10/31/22 | 22.56 | 0.02 | (2.12)<br>| (2.10)<br>|  | (3.09)<br>| (3.09)<br>| 17.37 | (11.00)<br>| &nbsp;&nbsp; 138325 | 1.71 | 1.71 | 0.12 | 38 |
| Year ended 10/31/21 | 16.95 | (0.03)<br>| 6.02 | 5.99 | (0.00)<br>| (0.38)<br>| (0.38)<br>| 22.56 | 35.83 | &nbsp;&nbsp; 195831 | 1.75 | 1.75 | (0.13)<br>| 30 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year ended 10/31/25 | 26.78 | 0.11 | 4.18 | 4.29 | (0.15)<br>| (2.89)<br>| (3.04)<br>| 28.03 | 17.48 | &nbsp;&nbsp; 134082 | 1.21 | 1.21 | 0.42 | 34 |
| Year ended 10/31/24 | 21.90 | 0.16 | 6.42 | 6.58 | (0.16)<br>| (1.54)<br>| (1.70)<br>| 26.78 | 31.44 | &nbsp;&nbsp; 125636 | 1.23 | 1.23 | 0.65 | 31 |
| Year ended 10/31/23 | 21.57 | 0.17 | 1.43 | 1.60 | (0.20)<br>| (1.07)<br>| (1.27)<br>| 21.90 | 7.48 | &nbsp;&nbsp; 103799 | 1.24 | 1.24 | 0.74 | 29 |
| Year ended 10/31/22 | 27.23 | 0.14 | (2.65)<br>| (2.51)<br>| (0.06)<br>| (3.09)<br>| (3.15)<br>| 21.57 | (10.58)<br>| &nbsp;&nbsp; 98241 | 1.21 | 1.21 | 0.62 | 38 |
| Year ended 10/31/21 | 20.36 | 0.09 | 7.25 | 7.34 | (0.09)<br>| (0.38)<br>| (0.47)<br>| 27.23 | 36.53 | &nbsp;&nbsp; 115326 | 1.25 | 1.25 | 0.37 | 30 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 10/31/25 | 28.46 | 0.25 | 4.46 | 4.71 | (0.30)<br>| (2.89)<br>| (3.19)<br>| 29.98 | 18.02 | &nbsp;&nbsp; 366252 | 0.71 | 0.71 | 0.92 | 34 |
| Year ended 10/31/24 | 23.18 | 0.30 | 6.82 | 7.12 | (0.30)<br>| (1.54)<br>| (1.84)<br>| 28.46 | 32.13 | &nbsp;&nbsp; 338207 | 0.73 | 0.73 | 1.15 | 31 |
| Year ended 10/31/23 | 22.78 | 0.30 | 1.50 | 1.80 | (0.33)<br>| (1.07)<br>| (1.40)<br>| 23.18 | 7.98 | &nbsp;&nbsp; 278381 | 0.74 | 0.74 | 1.24 | 29 |
| Year ended 10/31/22 | 28.59 | 0.27 | (2.80)<br>| (2.53)<br>| (0.19)<br>| (3.09)<br>| (3.28)<br>| 22.78 | (10.12)<br>| &nbsp;&nbsp; 281984 | 0.71 | 0.71 | 1.12 | 38 |
| Year ended 10/31/21 | 21.36 | 0.22 | 7.61 | 7.83 | (0.22)<br>| (0.38)<br>| (0.60)<br>| 28.59 | 37.21 | &nbsp;&nbsp; 324469 | 0.75 | 0.75 | 0.87 | 30 |
| **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** |
| Year ended 10/31/25 | 27.02 | 0.26 | 4.21 | 4.47 | (0.30)<br>| (2.89)<br>| (3.19)<br>| 28.30 | 18.12 | &nbsp;&nbsp; 15 | 0.64 | 0.64 | 0.99 | 34 |
| Year ended 10/31/24 | 22.08 | 0.31 | 6.48 | 6.79 | (0.31)<br>| (1.54)<br>| (1.85)<br>| 27.02 | 32.23 | &nbsp;&nbsp; 14 | 0.65 | 0.65 | 1.23 | 31 |
| Year ended 10/31/23 | 21.74 | 0.30 | 1.44 | 1.74 | (0.33)<br>| (1.07)<br>| (1.40)<br>| 22.08 | 8.11 | &nbsp;&nbsp; 12 | 0.65 | 0.65 | 1.33 | 29 |
| Year ended 10/31/22 | 27.43 | 0.28 | (2.68)<br>| (2.40)<br>| (0.20)<br>| (3.09)<br>| (3.29)<br>| 21.74 | (10.06)<br>| &nbsp;&nbsp; 12 | 0.63 | 0.63 | 1.20 | 38 |
| Year ended 10/31/21 | 20.51 | 0.24 | 7.30 | 7.54 | (0.24)<br>| (0.38)<br>| (0.62)<br>| 27.43 | 37.33 | &nbsp;&nbsp; 15 | 0.65 | 0.65 | 0.97 | 30 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 10/31/25 | 28.36 | 0.27 | 4.45 | 4.72 | (0.32)<br>| (2.89)<br>| (3.21)<br>| 29.87 | 18.14 | &nbsp;&nbsp; 62818 | 0.64 | 0.64 | 0.99 | 34 |
| Year ended 10/31/24 | 23.11 | 0.32 | 6.79 | 7.11 | (0.32)<br>| (1.54)<br>| (1.86)<br>| 28.36 | 32.20 | &nbsp;&nbsp; 54958 | 0.65 | 0.65 | 1.23 | 31 |
| Year ended 10/31/23 | 22.71 | 0.31 | 1.51 | 1.82 | (0.35)<br>| (1.07)<br>| (1.42)<br>| 23.11 | 8.09 | &nbsp;&nbsp; 39423 | 0.65 | 0.65 | 1.33 | 29 |
| Year ended 10/31/22 | 28.51 | 0.29 | (2.79)<br>| (2.50)<br>| (0.21)<br>| (3.09)<br>| (3.30)<br>| 22.71 | (10.04)<br>| &nbsp;&nbsp; 35224 | 0.63 | 0.63 | 1.20 | 38 |
| Year ended 10/31/21 | 21.31 | 0.25 | 7.58 | 7.83 | (0.25)<br>| (0.38)<br>| (0.63)<br>| 28.51 | 37.30 | &nbsp;&nbsp; 40929 | 0.65 | 0.65 | 0.97 | 30 |

---

<sup>(a)</sup> Calculated using average shares outstanding.

<sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable. 

<sup>(c)</sup> Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**Invesco Rising Dividends Fund**

------

**Notes to Financial Statements**

*October 31, 2025*

**NOTE 1—Significant Accounting Policies**

Invesco Rising Dividends Fund (the "Fund") is a series portfolio of AIM Equity Funds (Invesco Equity Funds) (the "Trust"). The Trust is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's investment objective is to seek total return.

The Fund currently consists of six different classes of shares: Class A, Class C, Class R, Class Y, Class R5 and Class R6. Class Y shares are available only to certain investors. Class A shares are sold with a front-end sales charge unless certain waiver criteria are met. Under certain circumstances, load waived shares may be subject to contingent deferred sales charges ("CDSC"). Class C shares are sold with a CDSC. Class R, Class Y, Class R5 and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Class A shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

Class R5 shares are closed to new investors.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

**A.** **Security Valuations** — Securities, including restricted securities, are valued according to the following policy.

A security listed or traded on an exchange is generally valued at its trade price or official closing price that day as of the close of the exchange where the security is principally traded, or lacking any trades or official closing price on a particular day, the security may be valued at the closing bid or ask price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued using prices provided by an independent pricing service they may be considered fair valued. Futures contracts are valued at the daily settlement price set by an exchange on which they are principally traded. Where a final settlement price exists, exchange-traded options are valued at the final settlement price from the exchange where the option principally trades. Where a final settlement price does not exist, exchange-traded options are valued at the mean between the last bid and ask price generally from the exchange where the option principally trades.

Securities of investment companies that are not exchange-traded (e.g., open-end mutual funds) are valued using such company's end-of-business-day net asset value per share.

Deposits, other obligations of U.S. and non-U.S. banks and financial institutions are valued at their daily account value.

Fixed income securities (including convertible debt securities) generally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots, and their value may be adjusted accordingly. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

Foreign securities' (including foreign exchange contracts) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the New York Stock Exchange ("NYSE"). If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Invesco Advisers, Inc. (the "Adviser" or "Invesco") may use various pricing services to obtain market quotations as well as fair value prices. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become not representative of market value in the Adviser's judgment ("unreliable"). If, between the time trading ends on a particular security and the close of the customary trading session on the NYSE, a significant event occurs that makes the closing price of the security unreliable, the Adviser may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith in accordance with Board- approved policies and related Adviser procedures ("Valuation Procedures"). Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities' prices meeting the degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.

Unlisted securities will be valued using prices provided by independent pricing services or by another method that the Adviser, in its judgment, believes better reflects the security's fair value in accordance with the Valuation Procedures.

Non-traded rights and warrants shall be valued at intrinsic value if the terms of the rights and warrants are available, specifically the subscription or exercise price and the ratio. Intrinsic value is calculated as the daily market closing price of the security to be received less the subscription price, which is then adjusted by the exercise ratio. In the case of warrants, an option pricing model supplied by an independent pricing service may be used based on market data such as volatility, stock price and interest rate from the independent pricing service and strike price and exercise period from verified terms.

Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The mean between the last bid and ask prices may be used to value debt obligations, including corporate loans.

Securities for which market quotations are not readily available are fair valued by the Adviser in accordance with the Valuation Procedures. If a fair value price provided by a pricing service is unreliable, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer's assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises, economic sanctions and tariffs, significant governmental actions or adverse investor sentiment generally and market liquidity. 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.

**8**

**Invesco Rising Dividends Fund**

------

The price the Fund could receive upon the sale of any investment may differ from the Adviser's valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Fund securities that are fair valued may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used. Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, the Fund could realize a greater or lesser than expected gain or loss upon the sale of the investment.

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date.

The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class.

**C.** **Country Determination** — For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

**D.** **Distributions** - Distributions from net investment income, if any, are declared and paid quarterly and are recorded on the ex-dividend date. Distributions from net realized capital gain, if any, are generally declared and paid annually and recorded on the ex-dividend date. The Fund may elect to treat a portion of the proceeds from redemptions as distributions for federal income tax purposes.

**E.** **Federal Income Taxes –** The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

**F.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R5 and Class R6 are allocated based on relative net assets of Class R5 and Class R6. Sub-accounting fees attributable to Class R5 are charged to the operations of the class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative net assets.

**G.** **Accounting Estimates** – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** – Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole, thereby enabling better understanding of how an entity's segments impact overall performance. The Fund represents a single operating segment. Subject to the oversight and, when applicable, approval of the Board of Trustees, the Adviser acts as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements. Adoption of the new standard impacted the Fund's financial statement notes disclosures only and did not affect the Fund's financial position or the results of its operations.

**J.** **Securities Lending** – The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the 1940 Act and money market funds (collectively, "affiliated money market funds") and is shown as such on the Schedule of Investments. The Fund bears the risk of loss with respect to the investment of collateral. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following

**9**

**Invesco Rising Dividends Fund**

------

the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When loaning securities, the Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to the Fund if, and to the extent that, the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or the Fund. Upon termination, the borrower will return to the Fund the securities loaned and the Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to the Fund. Some of these losses may be indemnified by the lending agent. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in *Dividends from affiliated money market funds* on the Statement of Operations. The aggregate value of securities out on loan, if any, is shown as a footnote on the Statement of Assets and Liabilities.

The Adviser serves as an affiliated securities lending agent for the Fund. The Bank of New York Mellon also serves as a securities lending agent. To the extent the Fund utilizes the Adviser as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the year ended October 31, 2025, the Fund paid the Adviser $685 in fees for securities lending agent services. Fees paid to the Adviser for securities lending agent services, if any, are included in *Dividends from affiliated money market funds* on the Statement of Operations.

**K.** **Foreign Currency Translations** — Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. 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.

**L.** **Forward Foreign Currency Contracts** — The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate\*** |
| First $800 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.650% |
| Next $700 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.600% |
| Next $1 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.580% |
| Next $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.560% |
| Next $5 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.540% |
| Over $10 billion | &nbsp;&nbsp;&nbsp;&nbsp; 0.520% |

---

\* The advisory fee paid by the Fund shall be reduced by any amounts paid by the Fund under the administrative services agreement with the Adviser.

For the year ended October 31, 2025, the effective advisory fee rate incurred by the Fund was 0.58%.

Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and a separate sub-advisory agreement with Invesco Capital Management LLC (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to

**10**

**Invesco Rising Dividends Fund**

------

any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Affiliated Sub-Adviser(s). Invesco has also entered into a sub-advisory agreement with OppenheimerFunds, Inc. to provide discretionary management services to the Fund.

The Adviser has agreed, for an indefinite period, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class R, Class Y, Class R5 and Class R6 shares to 2.00%, 2.75%, 2.25%, 1.75%, 1.75% and 1.75%, respectively, of the Fund's average daily net assets (the "boundary limits"). In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Invesco may amend and/or terminate these boundary limits at any time in its sole discretion and will inform the Board of Trustees of any such changes. The Adviser did not waive fees and/or reimburse expenses during the period under these boundary limits.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from the affiliated money market funds on investments by the Fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds.

For the year ended October 31, 2025, the Adviser waived advisory fees of $49,073.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended October 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended October 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Trust has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Class A, Class C, Class R, Class Y, Class R5 and Class R6 shares of the Fund. The Trust has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A, Class C and Class R shares (collectively, the "Plans"). The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.25% of the Fund's average daily net assets of Class A shares, 1.00% of the average daily net assets of Class C shares and 0.50% of the average daily net assets of Class R shares. Of the Plans payments, up to 0.25% of the average daily net assets of each class of shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended October 31, 2025, expenses incurred under the Plans are shown in the Statement of Operations as *Distribution fees*.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended October 31, 2025, IDI advised the Fund that IDI retained $258,893 in front-end sales commissions from the sale of Class A shares and $2,995 and $2,588 from Class A and Class C shares, respectively, for CDSC imposed upon redemptions by shareholders.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

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. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.

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 Adviser'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 October 31, 2025. 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** |
| <br>**Investments in Securities** |  |  |  |  |
| Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;&nbsp; $3355359672 | &nbsp;&nbsp;&nbsp;&nbsp; $58053289 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $3413412961 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 16354665 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16354665 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $3371714337 | &nbsp;&nbsp;&nbsp;&nbsp; $58053289 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $3429767626 |

---

**NOTE 4—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended October 31, 2025, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $107,027.

**11**

**Invesco Rising Dividends Fund**

------

**NOTE 5—Trustees' and Officers' Fees and Benefits**

*Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and *Trustees' and Officers' Fees and Benefits* also include amounts accrued by the Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Finally, certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Fund may have certain former Trustees who also participate in a retirement plan and receive benefits under such plan. *Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Fund.

**NOTE 6—Cash Balances**

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

**NOTE 7—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** |
|  | **2025** | **2024** |
| Ordinary income\* | &nbsp;&nbsp; $40595931 | &nbsp;&nbsp;&nbsp;&nbsp; $26481841 |
| Long-term capital gain | &nbsp;&nbsp; 327191091 | &nbsp;&nbsp;&nbsp;&nbsp; 184444570 |
| Total distributions | &nbsp;&nbsp; $367787022 | &nbsp;&nbsp;&nbsp;&nbsp; $210926411 |

---

\* Includes short-term capital gain distributions, if any.

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2025** |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp; $2605156 |
| Undistributed long-term capital gain | &nbsp;&nbsp;&nbsp;&nbsp; 237830367 |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; 1481771366 |
| Net unrealized appreciation — foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; 3213 |
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (269874)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 1710854957 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $3432795185 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to wash sales.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund does not have a capital loss carryforward as of October 31, 2025.

**NOTE 8—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended October 31, 2025 was $1,095,137,728 and $1,354,457,293, respectively. As of October 31, 2025, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $1515436559 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (33665193)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $1481771366 |

---

Cost of investments for tax purposes is $1,947,996,260.

**NOTE 9—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of equalization, on October 31, 2025, undistributed net investment income was decreased by $133,062, undistributed net realized gain was decreased by $17,681,938 and shares of beneficial interest was increased by $17,815,000. This reclassification had no effect on the net assets of the Fund.

**12**

**Invesco Rising Dividends Fund**

------

**NOTE 10—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**October 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**October 31, 2025**<sup>(a)</sup>  | **Year ended** <br>**October 31, 2024** | **Year ended** <br>**October 31, 2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 5472804 | &nbsp;&nbsp;&nbsp; $141593985 | &nbsp;&nbsp;&nbsp; 5388609 | &nbsp;&nbsp;&nbsp; $134030385 |
| Class C | &nbsp;&nbsp;&nbsp; 745121 | &nbsp;&nbsp;&nbsp; 14492734 | &nbsp;&nbsp;&nbsp; 817962 | &nbsp;&nbsp;&nbsp; 15827445 |
| Class R | &nbsp;&nbsp;&nbsp; 540768 | &nbsp;&nbsp;&nbsp; 13713835 | &nbsp;&nbsp;&nbsp; 722562 | &nbsp;&nbsp;&nbsp; 17858354 |
| Class Y | &nbsp;&nbsp;&nbsp; 1460190 | &nbsp;&nbsp;&nbsp; 39997820 | &nbsp;&nbsp;&nbsp; 1662600 | &nbsp;&nbsp;&nbsp; 43081167 |
| Class R6 | &nbsp;&nbsp;&nbsp; 402091 | &nbsp;&nbsp;&nbsp; 10926620 | &nbsp;&nbsp;&nbsp; 588659 | &nbsp;&nbsp;&nbsp; 15553673 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 10810350 | &nbsp;&nbsp;&nbsp; 272362866 | &nbsp;&nbsp;&nbsp; 6920812 | &nbsp;&nbsp;&nbsp; 159814931 |
| Class C | &nbsp;&nbsp;&nbsp; 905288 | &nbsp;&nbsp;&nbsp; 17137090 | &nbsp;&nbsp;&nbsp; 591723 | &nbsp;&nbsp;&nbsp; 10522080 |
| Class R | &nbsp;&nbsp;&nbsp; 566897 | &nbsp;&nbsp;&nbsp; 14129489 | &nbsp;&nbsp;&nbsp; 349594 | &nbsp;&nbsp;&nbsp; 7976286 |
| Class Y | &nbsp;&nbsp;&nbsp; 1190542 | &nbsp;&nbsp;&nbsp; 31756513 | &nbsp;&nbsp;&nbsp; 731035 | &nbsp;&nbsp;&nbsp; 17809004 |
| Class R6 | &nbsp;&nbsp;&nbsp; 223511 | &nbsp;&nbsp;&nbsp; 5940829 | &nbsp;&nbsp;&nbsp; 119303 | &nbsp;&nbsp;&nbsp; 2903599 |
| **Automatic conversion of Class C shares to Class A shares:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 697515 | &nbsp;&nbsp;&nbsp; 17967679 | &nbsp;&nbsp;&nbsp; 816605 | &nbsp;&nbsp;&nbsp; 20330594 |
| Class C | &nbsp;&nbsp;&nbsp; (926350)<br>| &nbsp;&nbsp;&nbsp; (17967679)<br>| &nbsp;&nbsp;&nbsp; (1050322)<br>| &nbsp;&nbsp;&nbsp; (20330594)<br>|
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (14281407)<br>| &nbsp;&nbsp;&nbsp; (368469372)<br>| &nbsp;&nbsp;&nbsp; (13920667)<br>| &nbsp;&nbsp;&nbsp; (346686956)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (1114785)<br>| &nbsp;&nbsp;&nbsp; (21677043)<br>| &nbsp;&nbsp;&nbsp; (1146678)<br>| &nbsp;&nbsp;&nbsp; (22311216)<br>|
| Class R | &nbsp;&nbsp;&nbsp; (1015762)<br>| &nbsp;&nbsp;&nbsp; (25794679)<br>| &nbsp;&nbsp;&nbsp; (1120504)<br>| &nbsp;&nbsp;&nbsp; (27862619)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (2318487)<br>| &nbsp;&nbsp;&nbsp; (62880825)<br>| &nbsp;&nbsp;&nbsp; (2517188)<br>| &nbsp;&nbsp;&nbsp; (65962570)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (460115)<br>| &nbsp;&nbsp;&nbsp; (12477590)<br>| &nbsp;&nbsp;&nbsp; (476101)<br>| &nbsp;&nbsp;&nbsp; (12357974)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; 2898171 | &nbsp;&nbsp;&nbsp; $70752272 | &nbsp;&nbsp;&nbsp; (1521996)<br>| &nbsp;&nbsp;&nbsp; $(49804411)<br>|

---

<sup>(a)</sup> There are entities that are record owners of more than 5% of the outstanding shares of the Fund and in the aggregate own 21% of the outstanding shares of the Fund. IDI has an agreement with these entities to sell Fund shares. The Fund, Invesco and/or Invesco affiliates may make payments to these entities, which are considered to be related to the Fund, for providing services to the Fund, Invesco and/or Invesco affiliates including but not limited to services such as securities brokerage, distribution, third party record keeping and account servicing. The Fund has no knowledge as to whether all or any portion of the shares owned of record by these entities are also owned beneficially.

**13**

**Invesco Rising Dividends Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Equity Funds (Invesco Equity Funds) and Shareholders of Invesco Rising Dividends Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Rising Dividends Fund (one of the funds constituting AIM Equity Funds (Invesco Equity Funds), referred to hereafter as the "Fund") as of October 31, 2025, the related statement of operations for the year ended October 31, 2025, the statement of changes in net assets for each of the two years in the period ended October 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2025 and the financial highlights for each of the five years in the period ended October 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2025 by correspondence with the custodian, transfer agent and broker. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

December 18, 2025

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**14**

**Invesco Rising Dividends Fund**

------

**Approval of Investment Advisory and Sub-Advisory Contracts** 

At meetings held on June 16, 2025, the Board of Trustees (the Board or the Trustees) of AIM Equity Funds (Invesco Equity Funds) as a whole, and the independent Trustees, who comprise over 75% of the Board, voting separately, approved the continuance of the Invesco Rising Dividends Fund's (the Fund) Master Investment Advisory Agreement with Invesco Advisers, Inc. (Invesco Advisers and the investment advisory agreement) and the Master Intergroup Sub-Advisory Contract for Mutual Funds with Invesco Asset Management Deutschland GmbH\*, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. and separate sub-advisory contracts with Invesco Capital Management LLC and OppenheimerFunds, Inc. (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2025. After evaluating the factors discussed below, among others, the Board approved the renewal of the Fund's investment advisory agreement and the sub-advisory contracts and determined that the compensation payable thereunder by the Fund to Invesco Advisers and by Invesco Advisers to the Affiliated Sub-Advisers is fair and reasonable.

**The Board's Evaluation Process**

The Board has established an Investments Committee, which in turn has established Sub-Committees. The Sub-Committees meet regularly throughout the year with portfolio managers and other members of management to review information about the investment performance and portfolio attributes for those funds advised by Invesco Advisers (Invesco Funds) assigned to them. The Board has established additional standing and ad hoc committees that meet throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the Board's annual review process for the Invesco Funds' investment advisory agreement and sub-advisory contracts (the annual review process). In considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts, the Board took into account evaluations and reports that it received from its committees and sub-committees, as well as the information provided to the Board and its committees and sub-committees throughout the year.

As part of the annual review process, the Board reviews and considers information provided in response to requests for information submitted to management by the independent Trustees with assistance from legal counsel to the independent Trustees (independent legal counsel) and the Senior Officer, an officer of the Invesco Funds who reports directly to the independent Trustees. The Board receives comparative investment performance and fee and expense data regarding the Invesco Funds prepared by Broadridge Financial Solutions, Inc. (Broadridge), an independent provider of investment company data, as well as information on the composition of the peer groups and its methodology for determining peer groups. The Board also receives an independent written evaluation from the Senior Officer. The Senior Officer's evaluation is prepared as

part of his responsibility to manage the process by which the Invesco Funds' proposed management fees are negotiated during the annual review process to ensure they are negotiated in a manner that is at arms' length and reasonable in accordance with certain negotiated regulatory requirements. In addition to meetings with Invesco Advisers and fund counsel throughout the year and as part of meetings convened on May 6, 2025 and June 16-18, 2025, the independent Trustees also discussed the continuance of the investment advisory agreement and sub-advisory contracts in separate sessions with the Senior Officer and with independent legal counsel.

The discussion below includes summary information drawn in part from the Senior Officer's independent written evaluation with respect to the Fund's investment advisory agreement and sub-advisory contracts, as well as a discussion of the material factors and related conclusions that formed the basis for the Board's approval of the Fund's investment advisory agreement and sub-advisory contracts. The Trustees' review and conclusions are based on the comprehensive consideration of all information presented to them during the course of the year and are not the result of any single determinative factor. Moreover, one Trustee may have weighed a particular piece of information or factor differently than another Trustee.

**Factors and Conclusions and Summary of Independent Written Fee Evaluation**

*A.* *Nature, Extent and Quality of Services Provided by Invesco Advisers and the Affiliated Sub-Advisers*

The Board reviewed the nature, extent and quality of the advisory services provided to the Fund by Invesco Advisers under the Fund's investment advisory agreement, and the credentials and experience of the officers and employees of Invesco Advisers who provide these services, including the Fund's portfolio manager(s). The Board's review included consideration of Invesco Advisers' investment process and oversight, credit analysis, and research capabilities. The Board considered information regarding Invesco Advisers' programs for and resources devoted to risk management, including management of investment, enterprise, operational, liquidity, derivatives, valuation and compliance risks, and technology used to manage such risks. The Board received information regarding Invesco's methodology for compensating its investment professionals and the incentives and accountability it creates, as well as how it impacts Invesco's ability to attract and retain talent. The Board considered that Invesco Advisers has shown the willingness to commit resources to support investment in the business and to remain well-positioned to serve Fund shareholders including with regard to attracting and retaining qualified personnel on its investment teams and investing in technology. The Board received a description of, and reports related to, Invesco Advisers' global security program and business continuity plans and of its approach to data privacy and cybersecurity, including related testing. The Board also considered non-advisory services that Invesco Advisers and its affiliates provide to the Invesco Funds, such as various middle office and back office support functions, third party oversight,

internal audit, valuation, portfolio trading and legal and compliance. The Board considered Invesco Advisers' systems preparedness and ongoing investment to seek to manage, operate and oversee the Invesco Funds with minimal impact or disruption through challenging environments. The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in running an investment management business, as well as its commitment of financial and other resources to such business. The Board concluded that the nature, extent and quality of the services provided to the Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

The Board reviewed the services that may be provided to the Fund by the Affiliated Sub-Advisers under the sub-advisory contracts and the credentials and experience of the officers and employees of the Affiliated Sub-Advisers who provide these services. The Board noted the Affiliated Sub-Advisers' expertise with respect to certain asset classes and that the Affiliated Sub-Advisers have offices and personnel that are located in financial centers around the world. As a result, the Board noted that the Affiliated Sub-Advisers can provide research and investment analysis on the markets and economies of various countries and territories in which the Fund may invest, make recommendations regarding securities and assist with portfolio trading. The Board concluded that the sub-advisory contracts may benefit the Fund and its shareholders by permitting Invesco Advisers to use the resources and talents of the Affiliated Sub-Advisers in managing the Fund. The Board concluded that the nature, extent and quality of the services that may be provided to the Fund by the Affiliated Sub-Advisers supported the renewal of the sub-advisory contracts.

*B.* *Fund Investment Performance*

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement. The Board did not view Fund investment performance as a relevant factor in considering whether to approve the sub-advisory contracts for the Fund, as no Affiliated Sub-Adviser currently manages assets of the Fund.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the Russell 1000<sup>®</sup> Index (Index). The Board noted that performance of Class A shares of the Fund was in the fourth quintile of its performance universe for the one, three and five year periods (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Class A shares of the Fund was below the performance of the Index for the one, three and five year periods. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions.

**15**

**Invesco Rising Dividends Fund**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;*C. Advisory and Sub-Advisory Fees and Fund Expenses*

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Class A shares of the Fund were the same as and reasonably comparable to, respectively, the median contractual management and actual management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board noted that the Fund's total expense ratio was in the fourth quintile of its expense group and discussed with management reasons for such relative total expenses.

The Board noted that Invesco Advisers has voluntarily agreed to waive fees and/or limit expenses of the Fund for an indefinite period until further notice to the Board in an amount necessary to limit total annual operating expenses to a specified percentage of average daily net assets for each class of the Fund.

The Board noted that Invesco Advisers and the Affiliated Sub-Advisers do not manage other similarly managed mutual funds or client accounts.

The Board also considered the services that may be provided by the Affiliated Sub-Advisers pursuant to the sub-advisory contracts, as well as the fees payable by Invesco Advisers to the Affiliated Sub-Advisers pursuant to the sub-advisory contracts.

*D.* *Economies of Scale and Breakpoints*

The Board considered the extent to which there may be economies of scale in the provision of advisory services to the Fund and the Invesco Funds, and the extent to which such economies of scale are shared with the Fund and the Invesco Funds. The Board acknowledged the limitations in calculating and measuring economies of scale at the individual fund level, noting that only indicative and estimated measures are available at the individual fund level and that such measures are subject to uncertainty. The Board considered that the Fund benefits from economies of scale through contractual breakpoints in the Fund's advisory fee schedule, which generally operate to reduce the Fund's expense ratio as it grows in size. The Board noted that the Fund also shares in economies of scale through Invesco Advisers' ability to negotiate lower fee arrangements with third party service providers. The Board noted that the Fund may also benefit from economies of scale through initial fee setting, fee waivers and expense reimbursements, as well as Invesco Advisers' management of significant assets and investment in its business, including investments in business infrastructure, technology and cybersecurity.

&nbsp;&nbsp;&nbsp;&nbsp;

*E.* *Profitability and Financial Resources*

The Board reviewed information from Invesco Advisers concerning the costs of the advisory and other services that Invesco Advisers and its affiliates provide to the Fund and the Invesco Funds and the profitability of Invesco Advisers and its affiliates in providing these services in the aggregate and on an individual fund-by-fund basis. The Board considered the methodology used for calculating profitability and the periodic review and enhancement of such methodology. The Board noted that Invesco Advisers continues to operate at a net profit from services Invesco Advisers and its affiliates provide to the Invesco Funds in the aggregate and to most Invesco Funds individually. The Board considered that profits to Invesco Advisers can vary significantly depending on the particular Invesco Fund, with some Invesco Funds showing indicative losses to Invesco Advisers and others showing indicative profits at healthy levels, and that Invesco Advisers' support for and commitment to an Invesco Fund are not, however, solely dependent on the profits attributed to such Fund. The Board did not deem the level of profits realized by Invesco Advisers and its affiliates from providing such services to be excessive, given the nature, extent and quality of the services provided. The Board noted that Invesco Advisers provided information demonstrating that Invesco Advisers is financially sound and has the resources necessary to perform its obligations under the investment advisory agreement, and provided representations indicating that the Affiliated Sub-Advisers are financially sound and have the resources necessary to perform their obligations under the sub-advisory contracts. The Board noted the cyclical and competitive nature of the global asset management industry.

*F.* *Collateral Benefits to Invesco Advisers and its Affiliates*

The Board considered various other benefits received by Invesco Advisers and its affiliates from the relationship with the Fund, including the fees received for providing administrative, transfer agency and distribution services to the Fund. The Board received comparative information regarding fees charged for these services, including information provided by Broadridge and other independent sources. The Board reviewed the performance of Invesco Advisers and its affiliates in providing these services and the organizational structure employed to provide these services. The Board noted that these services are provided to the Fund pursuant to written contracts that are reviewed and subject to approval on an annual basis by the Board based on its reasonable business judgement and in accordance with applicable regulatory guidance.

The Board considered the benefits realized by Invesco Advisers and the Affiliated Sub-Advisers as a result of portfolio brokerage transactions executed through "soft dollar" arrangements. The Board noted that soft dollar arrangements may result in the Fund bearing costs to purchase research that may be used by Invesco Advisers or the Affiliated Sub-Advisers with other clients and may reduce Invesco Advisers' or the Affiliated Sub-Advisers' expenses. The Board also considered that it receives from Invesco Advisers periodic reports that include a representation to the effect that these arrangements are consistent with regulatory requirements. The Board did not deem the soft dollar arrangements to be inappropriate.

The Board considered that the Fund's uninvested cash and cash collateral from any securities lending

arrangements may be invested in registered money market funds or, with regard to securities lending cash collateral, unregistered funds that comply with Rule 2a-7 under the Investment Company Act of 1940 (collectively referred to as "affiliated money market funds") advised by Invesco Advisers. The Board considered information regarding the returns of the affiliated money market funds relative to comparable overnight investments, as well as the fees paid by the affiliated money market funds to Invesco Advisers and its affiliates. In this regard, the Board noted that Invesco Advisers receives advisory fees from these affiliated money market funds attributable to the Fund's investments. The Board also noted that Invesco Advisers has contractually agreed to waive through varying periods an amount equal to 100% of the net advisory fee Invesco Advisers receives from the affiliated money market funds with respect to the Fund's investment in the affiliated money market funds of uninvested cash, but not cash collateral. The Board concluded that the advisory fees payable to Invesco Advisers from the Fund's investment of cash collateral from any securities lending arrangements in the affiliated money market funds are for services that are not duplicative of services provided by Invesco Advisers to the Fund.

The Board considered that Invesco Advisers may serve as the Fund's affiliated securities lending agent and evaluated the benefits realized by Invesco Advisers when serving in such role, including the compensation received. The Board considered Invesco Advisers' securities lending platform and corporate governance structure for securities lending, including Invesco Advisers' Securities Lending Governance Committee and its related responsibilities. The Board noted that to the extent the Fund utilizes Invesco Advisers as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services without obtaining exemptive relief. The Board considered information provided by Invesco Advisers related to the performance of Invesco Advisers as securities lending agent, including a summary of the securities lending services provided to the Fund by Invesco Advisers and the compensation paid to Invesco Advisers for such services, as well as any revenues generated for the Fund in connection with such securities lending activity and the allocation of such revenue between the Fund and Invesco Advisers.

The Board also received information about commissions that an affiliated broker may receive for executing certain trades for the Fund. Invesco Advisers and the Affiliated Sub-Advisers advised the Board of the benefits to the Fund of executing trades through the affiliated broker and that such trades were executed in compliance with rules under the federal securities laws and consistent with best execution obligations.

\* Effective as of August 29, 2025, Invesco Asset Management Deutschland GmbH merged into Invesco Management S.A.

**16**

**Invesco Rising Dividends Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended October 31, 2025:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Long-Term Capital Gain Distributions | &nbsp;&nbsp; $345006091 |
| Qualified Dividend Income\* | &nbsp;&nbsp; 100.00% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 100.00% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 0.00% |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 0.00% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

---

| | |
|:---|:---|
| **Non-Resident Alien Shareholders** |  |
| Short-Term Capital Gain Distributions | &nbsp;&nbsp; $13964080 |

---

**17**

**Invesco Rising Dividends Fund**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

The statement regarding basis for approval of investment advisory contracts can be found in the Approval of Investment Advisory and Sub-Advisory Contracts section of this report.

**18**

**Invesco Rising Dividends Fund**

------

![](img6b272ff41.jpg)

SEC file number(s): 811-01424 and 002-25469

Invesco Distributors, Inc.

O-RISD-NCSR

------

![](img99b7313d1.jpg)

------

**Annual Financial Statements and Other Information**

**October 31, 2025**

**Invesco Summit Fund**

Nasdaq:

A: ASMMX ■ C: CSMMX ■ P: SMMIX ■ R: SMMRX ■ S: SMMSX ■ Y: ASMYX ■ R5: SMITX ■ R6: SMISX

------

---

| | |
|:---|:---|
| [2](#xx_d251a8c7-32ed-4889-824b-f6c8ba7a331a_SOI-Continued-31_1) | Schedule of Investments |
| [4](#xx_d251a8c7-32ed-4889-824b-f6c8ba7a331a_FS-Continued-31_1) | Financial Statements |
| [7](#xx_d251a8c7-32ed-4889-824b-f6c8ba7a331a_FS-Continued-31_4) | Financial Highlights |
| [8](#xx_d251a8c7-32ed-4889-824b-f6c8ba7a331a_NTF-Continued-31_1) | Notes to Financial Statements |
| [14](#xx_d251a8c7-32ed-4889-824b-f6c8ba7a331a_ARS-Continued-31_1) | Report of Independent Registered Public Accounting Firm |
| [15](#xx_d251a8c7-32ed-4889-824b-f6c8ba7a331a_AOC-Continued-31_1) | Approval of Investment Advisory and Sub-Advisory Contracts |
| [18](#xx_d251a8c7-32ed-4889-824b-f6c8ba7a331a_TI-Continued-31_1) | Tax Information |
| [19](#xx_d251a8c7-32ed-4889-824b-f6c8ba7a331a_OIRSR-Continued-31_1) | Other Information Required in Form N-CSR (Items 8-11)  |

---

------

**Schedule of Investments**<sup>(a)</sup> 

*October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests–100.00%** | **Common Stocks & Other Equity Interests–100.00%** | **Common Stocks & Other Equity Interests–100.00%** |
| **Aerospace & Defense–3.16%** | **Aerospace & Defense–3.16%** | **Aerospace & Defense–3.16%** |
| AeroVironment, Inc.<sup>(b)(c)</sup>  | 126000 | &nbsp;&nbsp; $46608660 |
| Axon Enterprise, Inc.<sup>(b)</sup>  | 41220 | &nbsp;&nbsp; 30182521 |
| BAE Systems PLC (United Kingdom) | 1238400 | &nbsp;&nbsp; 30506087 |
| Curtiss-Wright Corp. | 27000 | &nbsp;&nbsp; 16084710 |
|  |  | &nbsp;&nbsp; 123381978 |
| **Application Software–4.81%** | **Application Software–4.81%** | **Application Software–4.81%** |
| AppLovin Corp., Class A<sup>(b)</sup>  | 182700 | &nbsp;&nbsp; 116440191 |
| Datadog, Inc., Class A<sup>(b)</sup>  | 314010 | &nbsp;&nbsp; 51123968 |
| Palantir Technologies, Inc., Class A<sup>(b)</sup>  | 100080 | &nbsp;&nbsp; 20063038 |
|  |  | &nbsp;&nbsp; 187627197 |
| **Asset Management & Custody Banks–0.41%** | **Asset Management & Custody Banks–0.41%** | **Asset Management & Custody Banks–0.41%** |
| KKR & Co., Inc., Class A | 135174 | &nbsp;&nbsp; 15995139 |
| **Automobile Manufacturers–2.75%** | **Automobile Manufacturers–2.75%** | **Automobile Manufacturers–2.75%** |
| Tesla, Inc.<sup>(b)</sup>  | 234810 | &nbsp;&nbsp; 107204854 |
| **Automotive Retail–0.47%** | **Automotive Retail–0.47%** | **Automotive Retail–0.47%** |
| Carvana Co.<sup>(b)</sup>  | 59400 | &nbsp;&nbsp; 18208476 |
| **Biotechnology–2.65%** | **Biotechnology–2.65%** | **Biotechnology–2.65%** |
| Alnylam Pharmaceuticals, Inc.<sup>(b)</sup>  | 126090 | &nbsp;&nbsp; 57502084 |
| Insmed, Inc.<sup>(b)</sup>  | 149400 | &nbsp;&nbsp; 28326240 |
| Natera, Inc.<sup>(b)</sup>  | 87300 | &nbsp;&nbsp; 17366589 |
|  |  | &nbsp;&nbsp; 103194913 |
| **Broadline Retail–6.94%** | **Broadline Retail–6.94%** | **Broadline Retail–6.94%** |
| Amazon.com, Inc.<sup>(b)</sup>  | 1057410 | &nbsp;&nbsp; 258240670 |
| MercadoLibre, Inc. (Brazil)<sup>(b)</sup>  | 5310 | &nbsp;&nbsp; 12357751 |
|  |  | &nbsp;&nbsp; 270598421 |
| **Building Products–1.54%** | **Building Products–1.54%** | **Building Products–1.54%** |
| Johnson Controls International PLC | 524530 | &nbsp;&nbsp; 60000987 |
| **Communications Equipment–2.57%** | **Communications Equipment–2.57%** | **Communications Equipment–2.57%** |
| Arista Networks, Inc.<sup>(b)</sup>  | 636696 | &nbsp;&nbsp; 100400592 |
| **Construction Materials–0.27%** | **Construction Materials–0.27%** | **Construction Materials–0.27%** |
| Vulcan Materials Co. | 36810 | &nbsp;&nbsp; 10656495 |
| **Consumer Finance–0.39%** | **Consumer Finance–0.39%** | **Consumer Finance–0.39%** |
| Figure Technology Solutions, Inc., <br> Class A<sup>(b)</sup>  | 384500 | &nbsp;&nbsp; 15226200 |
| **Electrical Components & Equipment–2.02%** | **Electrical Components & Equipment–2.02%** | **Electrical Components & Equipment–2.02%** |
| Eaton Corp. PLC | 88380 | &nbsp;&nbsp; 33722273 |
| Vertiv Holdings Co., Class A | 233744 | &nbsp;&nbsp; 45079868 |
|  |  | &nbsp;&nbsp; 78802141 |
| **Financial Exchanges & Data–1.58%** | **Financial Exchanges & Data–1.58%** | **Financial Exchanges & Data–1.58%** |
| Coinbase Global, Inc., Class A<sup>(b)</sup>  | 179190 | &nbsp;&nbsp; 61601938 |
| **Food Distributors–0.60%** | **Food Distributors–0.60%** | **Food Distributors–0.60%** |
| US Foods Holding Corp.<sup>(b)</sup>  | 323460 | &nbsp;&nbsp; 23489665 |
| **Food Retail–0.18%** | **Food Retail–0.18%** | **Food Retail–0.18%** |
| Casey's General Stores, Inc. | 13680 | &nbsp;&nbsp; 7020439 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Health Care Equipment–1.29%** | **Health Care Equipment–1.29%** | **Health Care Equipment–1.29%** |
| Boston Scientific Corp.<sup>(b)</sup>  | 195930 | &nbsp;&nbsp; $19734069 |
| Intuitive Surgical, Inc.<sup>(b)</sup>  | 57060 | &nbsp;&nbsp; 30486017 |
|  |  | &nbsp;&nbsp; 50220086 |
| **Heavy Electrical Equipment–0.59%** | **Heavy Electrical Equipment–0.59%** | **Heavy Electrical Equipment–0.59%** |
| GE Vernova, Inc. | 39600 | &nbsp;&nbsp; 23171544 |
| **Hotels, Resorts & Cruise Lines–1.12%** | **Hotels, Resorts & Cruise Lines–1.12%** | **Hotels, Resorts & Cruise Lines–1.12%** |
| Booking Holdings, Inc. | 8595 | &nbsp;&nbsp; 43643175 |
| **Independent Power Producers & Energy Traders–1.03%** | **Independent Power Producers & Energy Traders–1.03%** | **Independent Power Producers & Energy Traders–1.03%** |
| Vistra Corp. | 212490 | &nbsp;&nbsp; 40011867 |
| **Industrial Machinery & Supplies & Components–1.05%** | **Industrial Machinery & Supplies & Components–1.05%** | **Industrial Machinery & Supplies & Components–1.05%** |
| Donaldson Co., Inc. | 249300 | &nbsp;&nbsp; 21003525 |
| Wartsila OYJ Abp (Finland) | 612000 | &nbsp;&nbsp; 20022863 |
|  |  | &nbsp;&nbsp; 41026388 |
| **Integrated Oil & Gas–0.32%** | **Integrated Oil & Gas–0.32%** | **Integrated Oil & Gas–0.32%** |
| Suncor Energy, Inc. (Canada) | 314640 | &nbsp;&nbsp; 12529068 |
| **Interactive Home Entertainment–0.72%** | **Interactive Home Entertainment–0.72%** | **Interactive Home Entertainment–0.72%** |
| Sea Ltd., ADR (Singapore)<sup>(b)</sup>  | 78300 | &nbsp;&nbsp; 12234375 |
| Take-Two Interactive Software, Inc.<sup>(b)</sup>  | 62448 | &nbsp;&nbsp; 16009794 |
|  |  | &nbsp;&nbsp; 28244169 |
| **Interactive Media & Services–10.62%** | **Interactive Media & Services–10.62%** | **Interactive Media & Services–10.62%** |
| Alphabet, Inc., Class A | 3780 | &nbsp;&nbsp; 1062898 |
| Alphabet, Inc., Class C | 746010 | &nbsp;&nbsp; 210240538 |
| Meta Platforms, Inc., Class A | 271080 | &nbsp;&nbsp; 175754718 |
| Reddit, Inc., Class A<sup>(b)(c)</sup>  | 130500 | &nbsp;&nbsp; 27267975 |
|  |  | &nbsp;&nbsp; 414326129 |
| **Internet Services & Infrastructure–6.27%** | **Internet Services & Infrastructure–6.27%** | **Internet Services & Infrastructure–6.27%** |
| Cloudflare, Inc., Class A<sup>(b)</sup>  | 266850 | &nbsp;&nbsp; 67593105 |
| CoreWeave, Inc., Class A<sup>(b)(c)</sup>  | 270900 | &nbsp;&nbsp; 36222039 |
| Shopify, Inc., Class A (Canada)<sup>(b)</sup>  | 384300 | &nbsp;&nbsp; 66814398 |
| Snowflake, Inc., Class A<sup>(b)</sup>  | 269550 | &nbsp;&nbsp; 74093904 |
|  |  | &nbsp;&nbsp; 244723446 |
| **Investment Banking & Brokerage–2.51%** | **Investment Banking & Brokerage–2.51%** | **Investment Banking & Brokerage–2.51%** |
| Interactive Brokers Group, Inc., Class A | 614700 | &nbsp;&nbsp; 43250292 |
| Robinhood Markets, Inc., Class A<sup>(b)</sup>  | 372960 | &nbsp;&nbsp; 54743069 |
|  |  | &nbsp;&nbsp; 97993361 |
| **Leisure Facilities–0.25%** | **Leisure Facilities–0.25%** | **Leisure Facilities–0.25%** |
| Life Time Group Holdings, Inc.<sup>(b)</sup>  | 388165 | &nbsp;&nbsp; 9599321 |
| **Life Sciences Tools & Services–0.55%** | **Life Sciences Tools & Services–0.55%** | **Life Sciences Tools & Services–0.55%** |
| Tempus AI, Inc.<sup>(b)(c)</sup>  | 239400 | &nbsp;&nbsp; 21510090 |
| **Movies & Entertainment–2.57%** | **Movies & Entertainment–2.57%** | **Movies & Entertainment–2.57%** |
| Netflix, Inc.<sup>(b)</sup>  | 65070 | &nbsp;&nbsp; 72804220 |
| Spotify Technology S.A. (Sweden)<sup>(b)</sup>  | 41760 | &nbsp;&nbsp; 27366163 |
|  |  | &nbsp;&nbsp; 100170383 |
| **Oil & Gas Equipment & Services–0.24%** | **Oil & Gas Equipment & Services–0.24%** | **Oil & Gas Equipment & Services–0.24%** |
| TechnipFMC PLC (United Kingdom) | 223200 | &nbsp;&nbsp; 9229320 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**2**

**Invesco Summit Fund**

------

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | **Value** |
| **Pharmaceuticals–0.22%** | **Pharmaceuticals–0.22%** | **Pharmaceuticals–0.22%** |
| UCB S.A. (Belgium) | 33300 | &nbsp;&nbsp; $8562827 |
| **Real Estate Services–0.45%** | **Real Estate Services–0.45%** | **Real Estate Services–0.45%** |
| Jones Lang LaSalle, Inc.<sup>(b)</sup>  | 57591 | &nbsp;&nbsp; 17570438 |
| **Restaurants–0.84%** | **Restaurants–0.84%** | **Restaurants–0.84%** |
| DoorDash, Inc., Class A<sup>(b)</sup>  | 128160 | &nbsp;&nbsp; 32600059 |
| **Semiconductor Materials & Equipment–1.15%** | **Semiconductor Materials & Equipment–1.15%** | **Semiconductor Materials & Equipment–1.15%** |
| Teradyne, Inc. | 247500 | &nbsp;&nbsp; 44985600 |
| **Semiconductors–21.58%** | **Semiconductors–21.58%** | **Semiconductors–21.58%** |
| Broadcom, Inc. | 570653 | &nbsp;&nbsp; 210930468 |
| Monolithic Power Systems, Inc. | 34020 | &nbsp;&nbsp; 34190100 |
| NVIDIA Corp. | 2623050 | &nbsp;&nbsp; 531141395 |
| Taiwan Semiconductor Manufacturing Co. <br> Ltd., ADR (Taiwan) | 217592 | &nbsp;&nbsp; 65371165 |
|  |  | &nbsp;&nbsp; 841633128 |
| **Systems Software–9.01%** | **Systems Software–9.01%** | **Systems Software–9.01%** |
| Microsoft Corp. | 594980 | &nbsp;&nbsp; 308086594 |
| Oracle Corp. | 165870 | &nbsp;&nbsp; 43559121 |
|  |  | &nbsp;&nbsp; 351645715 |
| **Technology Hardware, Storage & Peripherals–3.78%** | **Technology Hardware, Storage & Peripherals–3.78%** | **Technology Hardware, Storage & Peripherals–3.78%** |
| Apple, Inc. | 546075 | &nbsp;&nbsp; 147642298 |
| **Trading Companies & Distributors–0.48%** | **Trading Companies & Distributors–0.48%** | **Trading Companies & Distributors–0.48%** |
| United Rentals, Inc. | 21654 | &nbsp;&nbsp; 18864532 |
| **Transaction & Payment Processing Services–3.02%** | **Transaction & Payment Processing Services–3.02%** | **Transaction & Payment Processing Services–3.02%** |
| Affirm Holdings, Inc.<sup>(b)(c)</sup>  | 630450 | &nbsp;&nbsp; 45316746 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Value** |
| **Transaction & Payment Processing Services–(continued)** | **Transaction & Payment Processing Services–(continued)** | **Transaction & Payment Processing Services–(continued)** | **Transaction & Payment Processing Services–(continued)** |
| Mastercard, Inc., Class A | Mastercard, Inc., Class A | 131166 | &nbsp;&nbsp; $72402320 |
|  |  |  | &nbsp;&nbsp; 117719066 |
| Total Common Stocks & Other Equity Interests <br> (Cost $1,638,002,019) | Total Common Stocks & Other Equity Interests <br> (Cost $1,638,002,019) | Total Common Stocks & Other Equity Interests <br> (Cost $1,638,002,019) | &nbsp;&nbsp; 3901031445 |
| **Money Market Funds–0.08%** | **Money Market Funds–0.08%** | **Money Market Funds–0.08%** | **Money Market Funds–0.08%** |
| Invesco Government & Agency Portfolio, <br> Institutional Class, 4.06%<sup>(d)(e)</sup>  | Invesco Government & Agency Portfolio, <br> Institutional Class, 4.06%<sup>(d)(e)</sup>  | 1135020 | &nbsp;&nbsp; 1135020 |
| Invesco Treasury Portfolio, Institutional <br> Class, 3.96%<sup>(d)(e)</sup>  | Invesco Treasury Portfolio, Institutional <br> Class, 3.96%<sup>(d)(e)</sup>  | 2107864 | &nbsp;&nbsp; 2107864 |
| Total Money Market Funds (Cost $3,242,884) | Total Money Market Funds (Cost $3,242,884) | Total Money Market Funds (Cost $3,242,884) | &nbsp;&nbsp; 3242884 |
| TOTAL INVESTMENTS IN SECURITIES <br> (excluding investments purchased <br> with cash collateral from securities <br> on loan)-100.08% <br> (Cost $1,641,244,903)<br>|  |  | &nbsp;&nbsp; 3904274329 |
| **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** | **Investments Purchased with Cash Collateral from** <br> **Securities on Loan** |
| **Money Market Funds–1.75%** | **Money Market Funds–1.75%** | **Money Market Funds–1.75%** | **Money Market Funds–1.75%** |
| Invesco Private Government Fund, <br> 4.13%<sup>(d)(e)(f)</sup>  | Invesco Private Government Fund, <br> 4.13%<sup>(d)(e)(f)</sup>  | 18886308 | &nbsp;&nbsp; 18886308 |
| Invesco Private Prime Fund, 4.30%<sup>(d)(e)(f)</sup>  | Invesco Private Prime Fund, 4.30%<sup>(d)(e)(f)</sup>  | 49145231 | &nbsp;&nbsp; 49159974 |
| Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $68,046,282) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $68,046,282) | Total Investments Purchased with Cash Collateral <br> from Securities on Loan (Cost $68,046,282) | &nbsp;&nbsp; 68046282 |
| TOTAL INVESTMENTS IN SECURITIES–101.83% <br> (Cost $1,709,291,185) | TOTAL INVESTMENTS IN SECURITIES–101.83% <br> (Cost $1,709,291,185) | TOTAL INVESTMENTS IN SECURITIES–101.83% <br> (Cost $1,709,291,185) | &nbsp;&nbsp; 3972320611 |
| OTHER ASSETS LESS LIABILITIES—(1.83)% | OTHER ASSETS LESS LIABILITIES—(1.83)% | OTHER ASSETS LESS LIABILITIES—(1.83)% | &nbsp;&nbsp; (71336042)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% | &nbsp;&nbsp; $3900984569 |

---

Investment Abbreviations:

ADR – American Depositary Receipt

Notes to Schedule of Investments:

<sup>(a)</sup> 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. 

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> All or a portion of this security was out on loan at October 31, 2025.

<sup>(d)</sup> Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the fiscal year ended October 31, 2025. 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**October 31, 2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**October 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market** <br> **Funds:**<br>|  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, <br> Institutional Class<br>| $2734015 | &nbsp;&nbsp; $166754472 | &nbsp;&nbsp; $(168353467) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $1135020 | &nbsp;&nbsp; $196013 |
| Invesco Treasury Portfolio, Institutional Class | 5077192 | &nbsp;&nbsp; 309686876 | &nbsp;&nbsp; (312656204) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 2107864 | &nbsp;&nbsp; 360797 |
| **Investments Purchased with Cash Collateral** <br> **from Securities on Loan:**<br>|  |  |  |  |  |  |  |
| Invesco Private Government Fund | - | &nbsp;&nbsp; 300827213 | &nbsp;&nbsp; (281940905) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 18886308 | &nbsp;&nbsp; 403,100\* |
| Invesco Private Prime Fund | 41620044 | &nbsp;&nbsp; 662231210 | &nbsp;&nbsp; (654692815) | &nbsp;&nbsp; 2082 | (547) | &nbsp;&nbsp; 49159974 | &nbsp;&nbsp; 1,094,397\* |
| Total | $49431251 | &nbsp;&nbsp; $1439499771 | &nbsp;&nbsp; $(1417643391) | &nbsp;&nbsp; $2082 | &nbsp;&nbsp; $(547) | &nbsp;&nbsp; $71289166 | &nbsp;&nbsp; $2054307 |

---

\* Represents the income earned on the investment of cash collateral, which is included in securities lending income on the Statement of Operations. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any. 

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of October 31, 2025.

<sup>(f)</sup> 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. See Note 1J. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**3**

**Invesco Summit Fund**

------

**Statement of Assets and Liabilities**

*October 31, 2025*

---

| | |
|:---|:---|
| **Assets:** |  |
| Investments in unaffiliated securities, at value <br>(Cost $1,638,002,019)\*<br>| &nbsp;&nbsp; $3901031445 |
| Investments in affiliated money market funds, at value <br> (Cost $71,289,166)<br>| &nbsp;&nbsp; 71289166 |
| Foreign currencies, at value (Cost $232,669) | &nbsp;&nbsp; 233588 |
| Receivable for: |  |
| Investments sold | &nbsp;&nbsp; 44228961 |
| Fund shares sold | &nbsp;&nbsp; 127246 |
| Dividends | &nbsp;&nbsp; 800795 |
| Investment for trustee deferred compensation and <br> retirement plans<br>| &nbsp;&nbsp; 376398 |
| Other assets | &nbsp;&nbsp; 109972 |
| Total assets | &nbsp;&nbsp; 4018197571 |
| **Liabilities:** |  |
| Payable for: |  |
| Investments purchased | &nbsp;&nbsp; 46027309 |
| Dividends | &nbsp;&nbsp; 42 |
| Fund shares reacquired | &nbsp;&nbsp; 1877620 |
| Collateral upon return of securities loaned | &nbsp;&nbsp; 68046282 |
| Accrued fees to affiliates | &nbsp;&nbsp; 782571 |
| Accrued trustees' and officers' fees and benefits | &nbsp;&nbsp; 1699 |
| Accrued other operating expenses | &nbsp;&nbsp; 83485 |
| Trustee deferred compensation and retirement plans | &nbsp;&nbsp; 393994 |
| Total liabilities | &nbsp;&nbsp; 117213002 |
| Net assets applicable to shares outstanding | &nbsp;&nbsp; $3900984569 |
| **Net assets consist of:** |  |
| Shares of beneficial interest | &nbsp;&nbsp; $1188847070 |
| Distributable earnings | &nbsp;&nbsp; 2712137499 |
|  | &nbsp;&nbsp; $3900984569 |
| **Net Assets:** | **Net Assets:** |
| Class A | &nbsp;&nbsp; $585501383 |
| Class C | &nbsp;&nbsp; $24009584 |
| Class P | &nbsp;&nbsp; $3227484273 |
| Class R | &nbsp;&nbsp; $10440 |
| Class S | &nbsp;&nbsp; $5737380 |
| Class Y | &nbsp;&nbsp; $37841390 |
| Class R5 | &nbsp;&nbsp; $19441 |
| Class R6 | &nbsp;&nbsp; $20380678 |

---

---

| | |
|:---|:---|
| **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** | **Shares outstanding, no par value, with an unlimited number of** <br> **shares authorized:** |
| Class A | &nbsp;&nbsp; 17272095 |
| Class C | &nbsp;&nbsp; 913235 |
| Class P | &nbsp;&nbsp; 91616533 |
| Class R | &nbsp;&nbsp; 308 |
| Class S | &nbsp;&nbsp; 165807 |
| Class Y | &nbsp;&nbsp; 1069906 |
| Class R5 | &nbsp;&nbsp; 546 |
| Class R6 | &nbsp;&nbsp; 569639 |
| Class A: |  |
| Net asset value per share | &nbsp;&nbsp; $33.90 |
| Maximum offering price per share <br>(Net asset value of $33.90 ÷ 94.50%)<br>| &nbsp;&nbsp; $35.87 |
| Class C: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $26.29 |
| Class P: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $35.23 |
| Class R: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $33.90 |
| Class S: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $34.60 |
| Class Y: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $35.37 |
| Class R5: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $35.61 |
| Class R6: |  |
| Net asset value and offering price per share | &nbsp;&nbsp; $35.78 |

---

\* At October 31, 2025, securities with an aggregate value of $69,532,216 were on loan to brokers. 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**4**

**Invesco Summit Fund**

------

**Statement of Operations**

*For the year ended October 31, 2025* 

---

| | |
|:---|:---|
| **Investment income:** |  |
| Dividends (net of foreign withholding taxes of $238,225) | &nbsp;&nbsp; $13617072 |
| Dividends from affiliated money market funds (includes net securities lending income of $124,734) | &nbsp;&nbsp; 681544 |
| Total investment income | &nbsp;&nbsp; 14298616 |
| **Expenses:** |  |
| Advisory fees | &nbsp;&nbsp; 22186299 |
| Administrative services fees | &nbsp;&nbsp; 486979 |
| Custodian fees | &nbsp;&nbsp; 11486 |
| Distribution fees: |  |
| Class A | &nbsp;&nbsp; 1264533 |
| Class C | &nbsp;&nbsp; 235750 |
| Class P | &nbsp;&nbsp; 2941593 |
| Class R | &nbsp;&nbsp; 4 |
| Class S | &nbsp;&nbsp; 7834 |
| Transfer agent fees — A, C, P, R, S and Y | &nbsp;&nbsp; 2165194 |
| Transfer agent fees — R5 | &nbsp;&nbsp; 4 |
| Transfer agent fees — R6 | &nbsp;&nbsp; 5100 |
| Trustees' and officers' fees and benefits | &nbsp;&nbsp; 46824 |
| Registration and filing fees | &nbsp;&nbsp; 122020 |
| Reports to shareholders | &nbsp;&nbsp; 67423 |
| Professional services fees | &nbsp;&nbsp; 85091 |
| Other | &nbsp;&nbsp; 53113 |
| Total expenses | &nbsp;&nbsp; 29679247 |
| Less: Fees waived and/or expense offset arrangement(s) | &nbsp;&nbsp; (101222)<br>|
| Net expenses | &nbsp;&nbsp; 29578025 |
| Net investment income (loss) | &nbsp;&nbsp; (15279409)<br>|
| **Realized and unrealized gain (loss) from:** |  |
| Net realized gain (loss) from: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 491446693 |
| Affiliated investment securities | &nbsp;&nbsp; (547)<br>|
| Foreign currencies | &nbsp;&nbsp; (2559)<br>|
|  | &nbsp;&nbsp; 491443587 |
| Change in net unrealized appreciation of: |  |
| Unaffiliated investment securities | &nbsp;&nbsp; 353897890 |
| Affiliated investment securities | &nbsp;&nbsp; 2082 |
| Foreign currencies | &nbsp;&nbsp; 12752 |
|  | &nbsp;&nbsp; 353912724 |
| Net realized and unrealized gain | &nbsp;&nbsp; 845356311 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; $830076902 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**5**

**Invesco Summit Fund**

------

**Statement of Changes in Net Assets**

*For the years ended October 31, 2025 and 2024* 

---

| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| **Operations:** |  |  |
| Net investment income (loss) | &nbsp;&nbsp; $(15279409)<br>| &nbsp;&nbsp; $(10422103)<br>|
| Net realized gain | &nbsp;&nbsp; 491443587 | &nbsp;&nbsp; 254397873 |
| Change in net unrealized appreciation | &nbsp;&nbsp; 353912724 | &nbsp;&nbsp; 911038081 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 830076902 | &nbsp;&nbsp; 1155013851 |
| **Distributions to shareholders from distributable earnings:** |  |  |
| Class A | &nbsp;&nbsp; (10334888)<br>| &nbsp;&nbsp; — |
| Class C | &nbsp;&nbsp; (674083)<br>| &nbsp;&nbsp; — |
| Class P | &nbsp;&nbsp; (59950902)<br>| &nbsp;&nbsp; — |
| Class S | &nbsp;&nbsp; (107215)<br>| &nbsp;&nbsp; — |
| Class Y | &nbsp;&nbsp; (421133)<br>| &nbsp;&nbsp; — |
| Class R5 | &nbsp;&nbsp; (307)<br>| &nbsp;&nbsp; — |
| Class R6 | &nbsp;&nbsp; (352178)<br>| &nbsp;&nbsp; — |
| Total distributions from distributable earnings | &nbsp;&nbsp; (71840706)<br>| &nbsp;&nbsp; — |
| **Share transactions–net:** |  |  |
| Class A | &nbsp;&nbsp; 1920652 | &nbsp;&nbsp; (6303521)<br>|
| Class C | &nbsp;&nbsp; (4680299)<br>| &nbsp;&nbsp; (4000638)<br>|
| Class P | &nbsp;&nbsp; (291272637)<br>| &nbsp;&nbsp; (282919949)<br>|
| Class R | &nbsp;&nbsp; 10070 | &nbsp;&nbsp; — |
| Class S | &nbsp;&nbsp; (434076)<br>| &nbsp;&nbsp; (270872)<br>|
| Class Y | &nbsp;&nbsp; 13191143 | &nbsp;&nbsp; (12389303)<br>|
| Class R5 | &nbsp;&nbsp; 1051 | &nbsp;&nbsp; 3771 |
| Class R6 | &nbsp;&nbsp; (951792)<br>| &nbsp;&nbsp; (2283220)<br>|
| Net increase (decrease) in net assets resulting from share transactions | &nbsp;&nbsp; (282215888)<br>| &nbsp;&nbsp; (308163732)<br>|
| Net increase in net assets | &nbsp;&nbsp; 476020308 | &nbsp;&nbsp; 846850119 |
| **Net assets:** |  |  |
| Beginning of year | &nbsp;&nbsp; 3424964261 | &nbsp;&nbsp; 2578114142 |
| End of year | &nbsp;&nbsp; $3900984569 | &nbsp;&nbsp; $3424964261 |

---

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**6**

**Invesco Summit Fund**

------

**Financial Highlights**

The following schedule presents financial highlights for a share of the Fund outstanding throughout the periods indicated.

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset** <br>**value,** <br>**beginning** <br>**of period**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<sup>(a)</sup> <br>| **Net gains** <br>**(losses)** <br>**on securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Net asset** <br>**value, end** <br>**of period**<br>| **Total** <br>**return**<sup>(b)</sup> <br>| **Net assets,** <br>**end of period** <br>**(000's omitted)**<br>| **Ratio of** <br>**expenses** <br>**to average** <br>**net assets** <br>**with fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of** <br>**expenses** <br>**to average net** <br>**assets without** <br>**fee waivers** <br>**and/or** <br>**expenses** <br>**absorbed**<br>| **Ratio of net** <br>**investment** <br>**income** <br>**(loss)** <br>**to average** <br>**net assets**<br>| **Portfolio** <br>**turnover** <sup>(c)</sup> <br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year ended 10/31/25 | $27.48 | $(0.16)<br>| $7.18 | $7.02 | $(0.60)<br>| $33.90 | 25.81<br> %<br>| $585501 | 0.97<br> %<br>| 0.97<br> %<br>| (0.56)%<br>| 58<br> %<br>|
| Year ended 10/31/24 | 18.82 | (0.11)<br>| 8.77 | 8.66 |  | 27.48 | 46.01 | 473669 | 0.98 | 0.98 | (0.46)<br>| 57 |
| Year ended 10/31/23 | 18.33 | (0.05)<br>| 2.20 | 2.15 | (1.66)<br>| 18.82 | 13.19 | 328711 | 1.00 | 1.00 | (0.26)<br>| 62 |
| Year ended 10/31/22 | 33.40 | (0.03)<br>| (9.58)<br>| (9.61)<br>| (5.46)<br>| 18.33 | (33.39)<br>| 293295 | 0.99 | 0.99 | (0.15)<br>| 78 |
| Year ended 10/31/21 | 26.25 | (0.16)<br>| 9.21 | 9.05 | (1.90)<br>| 33.40 | 35.85 | 476470 | 0.99 | 0.99 | (0.53)<br>| 47 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year ended 10/31/25 | 21.59 | (0.30)<br>| 5.60 | 5.30 | (0.60)<br>| 26.29 | 24.86 | 24010 | 1.72 | 1.72 | (1.31)<br>| 58 |
| Year ended 10/31/24 | 14.90 | (0.23)<br>| 6.92 | 6.69 |  | 21.59 | 44.90 | 24385 | 1.73 | 1.73 | (1.21)<br>| 57 |
| Year ended 10/31/23 | 14.96 | (0.15)<br>| 1.75 | 1.60 | (1.66)<br>| 14.90 | 12.41 | 19676 | 1.75 | 1.75 | (1.01)<br>| 62 |
| Year ended 10/31/22 | 28.53 | (0.17)<br>| (7.94)<br>| (8.11)<br>| (5.46)<br>| 14.96 | (33.93)<br>| 16613 | 1.74 | 1.74 | (0.90)<br>| 78 |
| Year ended 10/31/21 | 22.82 | (0.34)<br>| 7.95 | 7.61 | (1.90)<br>| 28.53 | 34.86 | 31198 | 1.74 | 1.74 | (1.28)<br>| 47 |
| **Class P** | **Class P** | **Class P** | **Class P** | **Class P** | **Class P** | **Class P** | **Class P** | **Class P** | **Class P** | **Class P** | **Class P** | **Class P** |
| Year ended 10/31/25 | 28.49 | (0.12)<br>| 7.46 | 7.34 | (0.60)<br>| 35.23 | 26.02 | 3227484 | 0.82 | 0.82 | (0.41)<br>| 58 |
| Year ended 10/31/24 | 19.49 | (0.08)<br>| 9.08 | 9.00 |  | 28.49 | 46.18 | 2884941 | 0.83 | 0.83 | (0.31)<br>| 57 |
| Year ended 10/31/23 | 18.89 | (0.02)<br>| 2.28 | 2.26 | (1.66)<br>| 19.49 | 13.40 | 2189443 | 0.85 | 0.85 | (0.11)<br>| 62 |
| Year ended 10/31/22 | 34.21 | 0.00 | (9.86)<br>| (9.86)<br>| (5.46)<br>| 18.89 | (33.32)<br>| 2086384 | 0.84 | 0.84 | 0.00 | 78 |
| Year ended 10/31/21 | 26.80 | (0.12)<br>| 9.43 | 9.31 | (1.90)<br>| 34.21 | 36.09 | 3369237 | 0.84 | 0.84 | (0.38)<br>| 47 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Period ended 10/31/25<sup>(d)</sup> <br>| 32.72 | (0.02)<br>| 1.20 | 1.18 |  | 33.90 | 3.61 | 10 | 1.22 <br><sup>(e)</sup><br>| 1.22 <br><sup>(e)</sup><br>| (0.81 )<sup>(e)</sup><br>| 58 |
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year ended 10/31/25 | 28.01 | (0.14)<br>| 7.33 | 7.19 | (0.60)<br>| 34.60 | 25.93 | 5737 | 0.87 | 0.87 | (0.46)<br>| 58 |
| Year ended 10/31/24 | 19.17 | (0.09)<br>| 8.93 | 8.84 |  | 28.01 | 46.11 | 5040 | 0.88 | 0.88 | (0.36)<br>| 57 |
| Year ended 10/31/23 | 18.62 | (0.03)<br>| 2.24 | 2.21 | (1.66)<br>| 19.17 | 13.32 | 3647 | 0.90 | 0.90 | (0.16)<br>| 62 |
| Year ended 10/31/22 | 33.81 | (0.01)<br>| (9.72)<br>| (9.73)<br>| (5.46)<br>| 18.62 | (33.33)<br>| 3631 | 0.89 | 0.89 | (0.05)<br>| 78 |
| Year ended 10/31/21 | 26.52 | (0.13)<br>| 9.32 | 9.19 | (1.90)<br>| 33.81 | 36.02 | 5626 | 0.89 | 0.89 | (0.43)<br>| 47 |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| Year ended 10/31/25 | 28.58 | (0.09)<br>| 7.48 | 7.39 | (0.60)<br>| 35.37 | 26.12 | 37841 | 0.72 | 0.72 | (0.31)<br>| 58 |
| Year ended 10/31/24 | 19.52 | (0.05)<br>| 9.11 | 9.06 |  | 28.58 | 46.42 | 19651 | 0.73 | 0.73 | (0.21)<br>| 57 |
| Year ended 10/31/23 | 18.90 | 0.00 | 2.28 | 2.28 | (1.66)<br>| 19.52 | 13.50 | 22986 | 0.75 | 0.75 | (0.01)<br>| 62 |
| Year ended 10/31/22 | 34.20 | 0.02 | (9.86)<br>| (9.84)<br>| (5.46)<br>| 18.90 | (33.26)<br>| 61282 | 0.74 | 0.74 | 0.10 | 78 |
| Year ended 10/31/21 | 26.77 | (0.09)<br>| 9.42 | 9.33 | (1.90)<br>| 34.20 | 36.22 | 85356 | 0.74 | 0.74 | (0.28)<br>| 47 |
| **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** | **Class R5** |
| Year ended 10/31/25 | 28.75 | (0.08)<br>| 7.54 | 7.46 | (0.60)<br>| 35.61 | 26.21 | 19 | 0.69 | 0.69 | (0.28)<br>| 58 |
| Year ended 10/31/24 | 19.64 | (0.04)<br>| 9.15 | 9.11 |  | 28.75 | 46.38 | 15 | 0.69 | 0.69 | (0.17)<br>| 57 |
| Year ended 10/31/23 | 19.01 | (0.00)<br>| 2.29 | 2.29 | (1.66)<br>| 19.64 | 13.48 | 7 | 0.77 | 0.77 | (0.03)<br>| 62 |
| Year ended 10/31/22 | 34.37 | 0.02 | (9.92)<br>| (9.90)<br>| (5.46)<br>| 19.01 | (33.27)<br>| 801 | 0.77 | 0.77 | 0.07 | 78 |
| Year ended 10/31/21 | 26.91 | (0.10)<br>| 9.46 | 9.36 | (1.90)<br>| 34.37 | 36.14 | 1848 | 0.77 | 0.77 | (0.31)<br>| 47 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| Year ended 10/31/25 | 28.89 | (0.08)<br>| 7.57 | 7.49 | (0.60)<br>| 35.78 | 26.18 | 20381 | 0.69 | 0.69 | (0.28)<br>| 58 |
| Year ended 10/31/24 | 19.73 | (0.04)<br>| 9.20 | 9.16 |  | 28.89 | 46.43 | 17264 | 0.69 | 0.69 | (0.17)<br>| 57 |
| Year ended 10/31/23 | 19.08 | 0.01 | 2.30 | 2.31 | (1.66)<br>| 19.73 | 13.54 | 13643 | 0.70 | 0.70 | 0.04 | 62 |
| Year ended 10/31/22 | 34.45 | 0.03 | (9.94)<br>| (9.91)<br>| (5.46)<br>| 19.08 | (33.22)<br>| 14329 | 0.70 | 0.70 | 0.14 | 78 |
| Year ended 10/31/21 | 26.95 | (0.07)<br>| 9.47 | 9.40 | (1.90)<br>| 34.45 | 36.24 | 23732 | 0.70 | 0.70 | (0.24)<br>| 47 |

---

<sup>(a)</sup> Calculated using average shares outstanding.

<sup>(b)</sup> Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Does not include sales charges and is not annualized for periods less than one year, if applicable. 

<sup>(c)</sup> Portfolio turnover is calculated at the fund level and is not annualized for periods less than one year, if applicable.

<sup>(d)</sup> Commencement Date of September 30, 2025.

<sup>(e)</sup> Annualized.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

**7**

**Invesco Summit Fund**

------

**Notes to Financial Statements**

*October 31, 2025*

**NOTE 1—Significant Accounting Policies**

Invesco Summit Fund (the "Fund") is a series portfolio of AIM Equity Funds (Invesco Equity Funds) (the "Trust"). The Trust is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end series management investment company authorized to issue an unlimited number of shares of beneficial interest. Information presented in these financial statements pertains only to the Fund. Matters affecting the Fund or each class will be voted on exclusively by the shareholders of the Fund or each class.

The Fund's investment objective is long-term growth of capital.

The Fund currently consists of seven different classes of shares: Class A, Class C, Class P, Class R, Class S, Class Y, Class R5 and Class R6. On September 30, 2025, the Fund began offering Class R shares. Class P shares are not sold to members of the general public. Only shareholders who had accounts in the AIM Summit Investors Plans I and AIM Summit Investors Plans II at the close of business on December 8, 2006, may continue to purchase Class P shares as described in the Fund's prospectus. Class Y shares are available only to certain investors. Class A shares are sold with a front-end sales charge unless certain waiver criteria are met. Under certain circumstances, load waiver shares may be subject to contingent deferred sales charges ("CDSC"). Class C shares are sold with a CDSC. Class P, Class R, Class S, Class Y, Class R5 and Class R6 shares are sold at net asset value. Class C shares held for eight years after purchase are eligible for automatic conversion into Class A shares of the same Fund (the "Conversion Feature"). The automatic conversion pursuant to the Conversion Feature will generally occur at the end of the month following the eighth anniversary after a purchase of Class C shares.

Class R5 shares are closed to new investors.

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies*.

The following is a summary of the significant accounting policies followed by the Fund in the preparation of its financial statements.

**A.** **Security Valuations** — Securities, including restricted securities, are valued according to the following policy.

A security listed or traded on an exchange is generally valued at its trade price or official closing price that day as of the close of the exchange where the security is principally traded, or lacking any trades or official closing price on a particular day, the security may be valued at the closing bid or ask price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued using prices provided by an independent pricing service they may be considered fair valued. Futures contracts are valued at the daily settlement price set by an exchange on which they are principally traded. Where a final settlement price exists, exchange-traded options are valued at the final settlement price from the exchange where the option principally trades. Where a final settlement price does not exist, exchange-traded options are valued at the mean between the last bid and ask price generally from the exchange where the option principally trades.

Securities of investment companies that are not exchange-traded (e.g., open-end mutual funds) are valued using such company's end-of-business-day net asset value per share.

Deposits, other obligations of U.S. and non-U.S. banks and financial institutions are valued at their daily account value.

Fixed income securities (including convertible debt securities) generally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots, and their value may be adjusted accordingly. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.

Foreign securities' (including foreign exchange contracts) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the New York Stock Exchange ("NYSE"). If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Invesco Advisers, Inc. (the "Adviser" or "Invesco") may use various pricing services to obtain market quotations as well as fair value prices. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become not representative of market value in the Adviser's judgment ("unreliable"). If, between the time trading ends on a particular security and the close of the customary trading session on the NYSE, a significant event occurs that makes the closing price of the security unreliable, the Adviser may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith in accordance with Board- approved policies and related Adviser procedures ("Valuation Procedures"). Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities' prices meeting the degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.

Unlisted securities will be valued using prices provided by independent pricing services or by another method that the Adviser, in its judgment, believes better reflects the security's fair value in accordance with the Valuation Procedures.

Non-traded rights and warrants shall be valued at intrinsic value if the terms of the rights and warrants are available, specifically the subscription or exercise price and the ratio. Intrinsic value is calculated as the daily market closing price of the security to be received less the subscription price, which is then adjusted by the exercise ratio. In the case of warrants, an option pricing model supplied by an independent pricing service may be used based on market data such as volatility, stock price and interest rate from the independent pricing service and strike price and exercise period from verified terms.

Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The mean between the last bid and ask prices may be used to value debt obligations, including corporate loans.

Securities for which market quotations are not readily available are fair valued by the Adviser in accordance with the Valuation Procedures. If a fair value price provided by a pricing service is unreliable, the Adviser will fair value the security using the Valuation Procedures. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value.

The Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.

Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer's assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises, economic sanctions and tariffs, significant governmental actions or adverse

**8**

**Invesco Summit Fund**

------

investor sentiment generally and market liquidity. 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.

The price the Fund could receive upon the sale of any investment may differ from the Adviser's valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Fund securities that are fair valued may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used. Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, the Fund could realize a greater or lesser than expected gain or loss upon the sale of the investment.

**B.** **Securities Transactions and Investment Income** — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income (net of withholding tax, if any) is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date.

The Fund may periodically participate in litigation related to Fund investments. As such, the Fund may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and the Statement of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the investment adviser.

The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class.

**C.** **Country Determination** — For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues, the country that has the primary market for the issuer's securities and its "country of risk" as determined by a third party service provider, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.

**D.** **Distributions** – Distributions from net investment income and net realized capital gain, if any, are generally declared and paid annually and recorded on the ex-dividend date. The Fund may elect to treat a portion of the proceeds from redemptions as distributions for federal income tax purposes.

**E.** **Federal Income Taxes –** The Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), necessary to qualify as a regulated investment company and to distribute substantially all of the Fund's taxable earnings to shareholders. As such, the Fund will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.

The Fund files tax returns in the U.S. Federal jurisdiction and certain other jurisdictions. Generally, the Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

**F.** **Expenses** – Fees provided for under the Rule 12b-1 plan of a particular class of the Fund are charged to the operations of such class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses attributable to Class R5 and Class R6 are allocated based on relative net assets of Class R5 and Class R6. Sub-accounting fees attributable to Class R5 are charged to the operations of the class. Transfer agency fees and expenses and other shareholder recordkeeping fees and expenses relating to all other classes are allocated among those classes based on relative net assets. All other expenses are allocated among the classes based on relative net assets.

**G.** **Accounting Estimates** – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including estimates and assumptions related to taxation. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

**H.** **Indemnifications** – Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**I.** **Segment Reporting** — In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole, thereby enabling better understanding of how an entity's segments impact overall performance. The Fund represents a single operating segment. Subject to the oversight and, when applicable, approval of the Board of Trustees, the Adviser acts as the Fund's chief operating decision maker ("CODM"), assessing performance and making decisions about resource allocation within the Fund. The CODM monitors the operating results as a whole, and the Fund's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy. The financial information provided to and reviewed by the CODM is consistent with that presented in the Fund's financial statements. Adoption of the new standard impacted the Fund's financial statement notes disclosures only and did not affect the Fund's financial position or the results of its operations.

**J.** **Securities Lending** – The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily by the securities lending provider. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its sponsored agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the 1940 Act and money market funds (collectively, "affiliated money market funds") and is shown as such on the Schedule of Investments. The Fund bears the risk of loss with respect to the investment

**9**

**Invesco Summit Fund**

------

of collateral. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When loaning securities, the Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to the Fund if, and to the extent that, the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or the Fund. Upon termination, the borrower will return to the Fund the securities loaned and the Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. The Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to the Fund. Some of these losses may be indemnified by the lending agent. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. Dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in *Dividends from affiliated money market funds* on the Statement of Operations. The aggregate value of securities out on loan, if any, is shown as a footnote on the Statement of Assets and Liabilities.

The Adviser serves as an affiliated securities lending agent for the Fund. The Bank of New York Mellon also serves as a securities lending agent. To the extent the Fund utilizes the Adviser as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the year ended October 31, 2025, the Fund paid the Adviser $5,739 in fees for securities lending agent services. Fees paid to the Adviser for securities lending agent services, if any, are included in *Dividends from affiliated money market funds* on the Statement of Operations.

**K.** **Foreign Currency Translations** — Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

The Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests and are shown in the Statement of Operations.

The performance of the Fund may be materially affected positively or negatively by foreign currency strength or weakness relative to the U.S. dollar. Currency rates in foreign countries may fluctuate for a number of reasons, including changes in interest rates, political, economic, or social instability and development, and imposition of currency controls. Currency controls in certain foreign jurisdictions may cause the Fund to experience significant delays in its ability to repatriate its assets in U.S. dollars at quoted spot rates, and it is possible that the Fund's ability to convert certain foreign currencies into U.S. dollars may be limited and may occur at discounts to quoted rates. As a result, the value of the Fund's assets and liabilities denominated in such currencies that would ultimately be realized could differ from those reported on the Statement of Assets and Liabilities. Certain foreign companies may be subject to sanctions, embargoes, or other governmental actions that may limit the ability to invest in, receive, hold, or sell the securities of such companies, all of which affect the market and/or credit risk of the investments. 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.

**L.** **Forward Foreign Currency Contracts** — The Fund may engage in foreign currency transactions either on a spot (i.e. for prompt delivery and settlement) basis, or through forward foreign currency contracts, to manage or minimize currency or exchange rate risk.

The Fund may also enter into forward foreign currency contracts for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security, or the Fund may also enter into forward foreign currency contracts that do not provide for physical exchange of the two currencies on the settlement date, but instead are settled by a single cash payment calculated as the difference between the agreed upon exchange rate and the spot rate at settlement based upon an agreed upon notional amount (non-deliverable forwards).

A forward foreign currency contract is an obligation between two parties ("Counterparties") to purchase or sell a specific currency for an agreed-upon price at a future date. The use of forward foreign currency contracts for hedging does not eliminate fluctuations in the price of the underlying securities the Fund owns or intends to acquire but establishes a rate of exchange in advance. Fluctuations in the value of these contracts are measured by the difference in the contract date and reporting date exchange rates and are recorded as unrealized appreciation (depreciation) until the contracts are closed. When the contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains (losses) on the contracts are included in the Statement of Operations. The primary risks associated with forward foreign currency contracts include failure of the Counterparty to meet the terms of the contract and the value of the foreign currency changing unfavorably. These risks may be in excess of the amounts reflected in the Statement of Assets and Liabilities.

**M.** **Other Risks** – The Fund is non-diversified and may invest in securities of fewer issuers than if it were diversified. Thus, the value of the Fund's shares may vary more widely and the Fund may be subject to greater market and credit risk than if the Fund invested more broadly.

**NOTE 2—Advisory Fees and Other Fees Paid to Affiliates**

The Trust has entered into a master investment advisory agreement with the Adviser. Under the terms of the investment advisory agreement, the Fund accrues daily and pays monthly an advisory fee to the Adviser based on the annual rate of the Fund's average daily net assets as follows:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | **Rate** |
| First $10 million | &nbsp;&nbsp;&nbsp;&nbsp; 1.000% |
| Next $140 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.750% |
| Over $150 million | &nbsp;&nbsp;&nbsp;&nbsp; 0.625% |

---

For the year ended October 31, 2025, the effective advisory fee rate incurred by the Fund was 0.63%.

Under the terms of a master sub-advisory agreement between the Adviser and each of Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Management S.A., Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. (collectively, the "Affiliated Sub-Advisers") the Adviser, not the Fund, will pay 40% of the fees paid to the Adviser to any such Affiliated Sub-Adviser(s) that provide(s) discretionary investment management services to the Fund based on the percentage of assets allocated to such Affiliated Sub-Adviser(s).

**10**

**Invesco Summit Fund**

------

The Adviser has agreed, for an indefinite period, to waive advisory fees and/or reimburse expenses of all shares to the extent necessary to limit total annual fund operating expenses after fee waiver and/or expense reimbursement (excluding certain items discussed below) of Class A, Class C, Class P, Class R, Class S, Class Y, Class R5 and Class R6 shares to 2.00%, 2.75%, 1.85%, 2.25%, 1.90%, 1.75%, 1.75% and 1.75%, respectively, of the Fund's average daily net assets (the "boundary limits"). In determining the Adviser's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account, and could cause the total annual fund operating expenses after fee waiver and/or expense reimbursement to exceed the numbers reflected above: (1) interest; (2) taxes; (3) dividend expense on short sales; (4) extraordinary or non-routine items, including litigation expenses; and (5) expenses that the Fund has incurred but did not actually pay because of an expense offset arrangement. Invesco may amend and/or terminate these boundary limits at any time in its sole discretion and will inform the Board of Trustees of any such changes. The Adviser did not waive fees and/or reimburse expenses during the period under these boundary limits.

Further, the Adviser has contractually agreed, through at least August 31, 2027, to waive the advisory fee payable by the Fund in an amount equal to the advisory fees earned by the Adviser and/or its affiliates on underlying affiliated investments, including 100% of the net advisory fees the Adviser receives from the affiliated money market funds on investments by the Fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds.

For the year ended October 31, 2025, the Adviser waived advisory fees of $15,231.

The Trust has entered into a master administrative services agreement with Invesco pursuant to which the Fund has agreed to pay Invesco for certain administrative costs incurred in providing accounting services to the Fund. For the year ended October 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Administrative services fees*. Invesco has entered into a sub-administration agreement whereby State Street Bank and Trust Company ("SSB") serves as fund accountant and provides certain administrative services to the Fund. Pursuant to a custody agreement with the Trust on behalf of the Fund, SSB also serves as the Fund's custodian.

The Trust has entered into a transfer agency and service agreement with Invesco Investment Services, Inc. ("IIS") pursuant to which the Fund has agreed to pay IIS a fee for providing transfer agency and shareholder services to the Fund and reimburse IIS for certain expenses incurred by IIS in the course of providing such services. IIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. All fees payable by IIS to intermediaries that provide omnibus account services or sub-accounting services are charged back to the Fund, subject to certain limitations approved by the Trust's Board of Trustees. For the year ended October 31, 2025, expenses incurred under the agreement are shown in the Statement of Operations as *Transfer agent fees*.

The Fund has entered into master distribution agreements with Invesco Distributors, Inc. ("IDI") to serve as the distributor for the Class A, Class C, Class P, Class R, Class S, Class Y, Class R5 and Class R6 shares. The Fund has adopted plans pursuant to Rule 12b-1 under the 1940 Act with respect to the Fund's Class A, Class C, Class P, Class R and Class S shares (collectively, the "Plans"). The Fund, pursuant to the Class R Plan, reimburses IDI for its allocated share of expenses incurred for the period, up to a maximum annual rate of 0.50% of the average daily net assets of Class R shares. The Fund, pursuant to the Plans, pays IDI compensation at the annual rate of 0.25% of the Fund's average daily net assets of Class A shares, 1.00% of the average daily net assets of Class C shares, 0.10% of the average daily net assets of Class P shares and 0.15% of the average daily net assets of Class S shares. The fees are accrued daily and paid monthly. Of the Plans payments, up to 0.25% of the average daily net assets of Class A and Class C shares, 0.10% of the average daily net assets of Class P shares and 0.15% of the average daily net assets of Class S shares may be paid to furnish continuing personal shareholder services to customers who purchase and own shares of such classes. Any amounts not paid as a service fee under the Plans would constitute an asset-based sales charge. Rules of the Financial Industry Regulatory Authority ("FINRA") impose a cap on the total sales charges, including asset-based sales charges, that may be paid by any class of shares of the Fund. For the year ended October 31, 2025, expenses incurred under the Plans are shown in the Statement of Operations as Distribution fees.

Front-end sales commissions and CDSC (collectively, the "sales charges") are not recorded as expenses of the Fund. Front-end sales commissions are deducted from proceeds from the sales of Fund shares prior to investment in Class A shares of the Fund. CDSC are deducted from redemption proceeds prior to remittance to the shareholder. During the year ended October 31, 2025, IDI advised the Fund that IDI retained $163,136 in front-end sales commissions from the sale of Class A shares and $6,531 and $575 from Class A and Class C shares, respectively, for CDSC imposed upon redemptions by shareholders.

For the year ended October 31, 2025, the Fund incurred $51,550 in brokerage commissions with Invesco Capital Markets, Inc., an affiliate of the Adviser and IDI, for portfolio transactions executed on behalf of the Fund.

Certain officers and trustees of the Trust are officers and directors of the Adviser, IIS and/or IDI.

**NOTE 3—Additional Valuation Information**

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. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.

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 Adviser'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 October 31, 2025. 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** |
| <br>**Investments in Securities** |  |  |  |  |
| Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;&nbsp; $3841939668 | &nbsp;&nbsp;&nbsp;&nbsp; $59091777 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $3901031445 |
| Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp; 3242884 | &nbsp;&nbsp;&nbsp;&nbsp; 68046282 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 71289166 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $3845182552 | &nbsp;&nbsp;&nbsp;&nbsp; $127138059 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $3972320611 |

---

**11**

**Invesco Summit Fund**

------

**NOTE 4—Expense Offset Arrangement(s)**

The expense offset arrangement is comprised of transfer agency credits which result from balances in demand deposit accounts used by the transfer agent for clearing shareholder transactions. For the year ended October 31, 2025, the Fund received credits from this arrangement, which resulted in the reduction of the Fund's total expenses of $85,991.

**NOTE 5—Trustees' and Officers' Fees and Benefits**

*Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to pay remuneration to certain Trustees and Officers of the Fund. Trustees have the option to defer compensation payable by the Fund, and *Trustees' and Officers' Fees and Benefits* also include amounts accrued by the Fund to fund such deferred compensation amounts. Those Trustees who defer compensation have the option to select various Invesco Funds in which their deferral accounts shall be deemed to be invested. Finally, certain current Trustees were eligible to participate in a retirement plan that provided for benefits to be paid upon retirement to Trustees over a period of time based on the number of years of service. The Fund may have certain former Trustees who also participate in a retirement plan and receive benefits under such plan. *Trustees' and Officers' Fees and Benefits* include amounts accrued by the Fund to fund such retirement benefits. Obligations under the deferred compensation and retirement plans represent unsecured claims against the general assets of the Fund.

**NOTE 6—Cash Balances**

The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with SSB, the custodian bank. Such balances, if any at period-end, are shown in the Statement of Assets and Liabilities under the payable caption *Amount due custodian*. To compensate the custodian bank for such overdrafts, the overdrawn Fund may either (1) leave funds as a compensating balance in the account so the custodian bank can be compensated by earning the additional interest; or (2) compensate by paying the custodian bank at a rate agreed upon by the custodian bank and Invesco, not to exceed the contractually agreed upon rate.

**NOTE 7—Distributions to Shareholders and Tax Components of Net Assets** 

---

| | | |
|:---|:---|:---|
| **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** | **<u>Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2025 and 2024:</u>** |
|  | **2025** | **2024** |
| Long-term capital gain | &nbsp;&nbsp; $71840706 | &nbsp;&nbsp;&nbsp;&nbsp; $— |

---

---

| | |
|:---|:---|
| **Tax Components of Net Assets at Period-End:** | **Tax Components of Net Assets at Period-End:** |
|  | **2025** |
| Undistributed long-term capital gain | &nbsp;&nbsp;&nbsp;&nbsp; $467163139 |
| Net unrealized appreciation — investments | &nbsp;&nbsp;&nbsp;&nbsp; 2258903922 |
| Net unrealized appreciation — foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; 11345 |
| Temporary book/tax differences | &nbsp;&nbsp;&nbsp;&nbsp; (219584)<br>|
| Late-Year ordinary loss deferral | &nbsp;&nbsp;&nbsp;&nbsp; (13721323)<br>|
| Shares of beneficial interest | &nbsp;&nbsp;&nbsp;&nbsp; 1188847070 |
| Total net assets | &nbsp;&nbsp;&nbsp;&nbsp; $3900984569 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Fund's net unrealized appreciation (depreciation) difference is attributable primarily to wash sales.

The temporary book/tax differences are a result of timing differences between book and tax recognition of income and/or expenses. The Fund's temporary book/tax differences are the result of the trustee deferral of compensation and retirement plan benefits.

Capital loss carryforward is calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforward actually available for the Fund to utilize. The ability to utilize capital loss carryforward in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The Fund does not have a capital loss carryforward as of October 31, 2025.

**NOTE 8—Investment Transactions**

The aggregate amount of investment securities (other than short-term securities, U.S. Government obligations and money market funds, if any) purchased and sold by the Fund during the year ended October 31, 2025 was $2,036,692,862 and $2,395,882,019, respectively. As of October 31, 2025, the aggregate cost of investments, including any derivatives, on a tax basis listed below includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:

---

| | |
|:---|:---|
| **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** | **Unrealized Appreciation (Depreciation) of Investments on a Tax Basis** |
| Aggregate unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $2269483560 |
| Aggregate unrealized (depreciation) of investments | &nbsp;&nbsp;&nbsp;&nbsp; (10579638)<br>|
| Net unrealized appreciation of investments | &nbsp;&nbsp;&nbsp;&nbsp; $2258903922 |

---

Cost of investments for tax purposes is $1,713,416,689.

**NOTE 9—Reclassification of Permanent Differences**

Primarily as a result of differing book/tax treatment of equalization, on October 31, 2025, undistributed net investment income (loss) was increased by $1,572,783, undistributed net realized gain was decreased by $20,301,441 and shares of beneficial interest was increased by $18,728,658. This reclassification had no effect on the net assets of the Fund.

**12**

**Invesco Summit Fund**

------

**NOTE 10—Share Information** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** | **Summary of Share Activity** |
|  | **Year ended** <br>**October 31, 2025** | **Year ended** <br>**October 31, 2025** | **Year ended** <br>**October 31, 2024** | **Year ended** <br>**October 31, 2024** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Sold:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 3125062 | &nbsp;&nbsp;&nbsp; $90443908 | &nbsp;&nbsp;&nbsp; 2943468 | &nbsp;&nbsp;&nbsp; $71063859 |
| Class C | &nbsp;&nbsp;&nbsp; 156103 | &nbsp;&nbsp;&nbsp; 3524543 | &nbsp;&nbsp;&nbsp; 273580 | &nbsp;&nbsp;&nbsp; 5165850 |
| Class P | &nbsp;&nbsp;&nbsp; 468639 | &nbsp;&nbsp;&nbsp; 13903107 | &nbsp;&nbsp;&nbsp; 654321 | &nbsp;&nbsp;&nbsp; 16273788 |
| Class R | &nbsp;&nbsp;&nbsp; 308 | &nbsp;&nbsp;&nbsp; 10070 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Class S | &nbsp;&nbsp;&nbsp; 1068 | &nbsp;&nbsp;&nbsp; 31431 | &nbsp;&nbsp;&nbsp; 4026 | &nbsp;&nbsp;&nbsp; 97041 |
| Class Y | &nbsp;&nbsp;&nbsp; 615812 | &nbsp;&nbsp;&nbsp; 19928879 | &nbsp;&nbsp;&nbsp; 372492 | &nbsp;&nbsp;&nbsp; 9478555 |
| Class R5 | &nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp; 971 | &nbsp;&nbsp;&nbsp; 133 | &nbsp;&nbsp;&nbsp; 3771 |
| Class R6 | &nbsp;&nbsp;&nbsp; 91704 | &nbsp;&nbsp;&nbsp; 2679776 | &nbsp;&nbsp;&nbsp; 104000 | &nbsp;&nbsp;&nbsp; 2713988 |
| **Issued as reinvestment of dividends:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 327181 | &nbsp;&nbsp;&nbsp; 9903778 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Class C | &nbsp;&nbsp;&nbsp; 27858 | &nbsp;&nbsp;&nbsp; 658285 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Class P | &nbsp;&nbsp;&nbsp; 1838500 | &nbsp;&nbsp;&nbsp; 57765684 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Class S | &nbsp;&nbsp;&nbsp; 3369 | &nbsp;&nbsp;&nbsp; 103993 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Class Y | &nbsp;&nbsp;&nbsp; 9723 | &nbsp;&nbsp;&nbsp; 306384 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Class R5 | &nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| Class R6 | &nbsp;&nbsp;&nbsp; 10491 | &nbsp;&nbsp;&nbsp; 334349 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| **Automatic conversion of Class C shares to Class A shares:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; 118126 | &nbsp;&nbsp;&nbsp; 3373597 | &nbsp;&nbsp;&nbsp; 115374 | &nbsp;&nbsp;&nbsp; 2887371 |
| Class C | &nbsp;&nbsp;&nbsp; (151646)<br>| &nbsp;&nbsp;&nbsp; (3373597)<br>| &nbsp;&nbsp;&nbsp; (146382)<br>| &nbsp;&nbsp;&nbsp; (2887371)<br>|
| **Reacquired:** |  |  |  |  |
| Class A | &nbsp;&nbsp;&nbsp; (3536547)<br>| &nbsp;&nbsp;&nbsp; (101800631)<br>| &nbsp;&nbsp;&nbsp; (3287007)<br>| &nbsp;&nbsp;&nbsp; (80254751)<br>|
| Class C | &nbsp;&nbsp;&nbsp; (248717)<br>| &nbsp;&nbsp;&nbsp; (5489530)<br>| &nbsp;&nbsp;&nbsp; (318359)<br>| &nbsp;&nbsp;&nbsp; (6279117)<br>|
| Class P | &nbsp;&nbsp;&nbsp; (11942544)<br>| &nbsp;&nbsp;&nbsp; (362941428)<br>| &nbsp;&nbsp;&nbsp; (11759520)<br>| &nbsp;&nbsp;&nbsp; (299193737)<br>|
| Class S | &nbsp;&nbsp;&nbsp; (18564)<br>| &nbsp;&nbsp;&nbsp; (569500)<br>| &nbsp;&nbsp;&nbsp; (14387)<br>| &nbsp;&nbsp;&nbsp; (367913)<br>|
| Class Y | &nbsp;&nbsp;&nbsp; (243274)<br>| &nbsp;&nbsp;&nbsp; (7044120)<br>| &nbsp;&nbsp;&nbsp; (862182)<br>| &nbsp;&nbsp;&nbsp; (21867858)<br>|
| Class R6 | &nbsp;&nbsp;&nbsp; (130082)<br>| &nbsp;&nbsp;&nbsp; (3965917)<br>| &nbsp;&nbsp;&nbsp; (197878)<br>| &nbsp;&nbsp;&nbsp; (4997208)<br>|
| Net increase (decrease) in share activity | &nbsp;&nbsp;&nbsp; (9477397)<br>| &nbsp;&nbsp;&nbsp; $(282215888)<br>| &nbsp;&nbsp;&nbsp; (12118321)<br>| &nbsp;&nbsp;&nbsp; $(308163732)<br>|

---

**13**

**Invesco Summit Fund**

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of AIM Equity Funds (Invesco Equity Funds) and Shareholders of Invesco Summit Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Invesco Summit Fund (one of the funds constituting AIM Equity Funds (Invesco Equity Funds), referred to hereafter as the "Fund") as of October 31, 2025, the related statement of operations for the year ended October 31, 2025, the statement of changes in net assets for each of the two years in the period ended October 31, 2025, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2025 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2025 by correspondence with the custodian, transfer agent and brokers. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Houston, Texas

December 18, 2025

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.

**14**

**Invesco Summit Fund**

------

**Approval of Investment Advisory and Sub-Advisory Contracts** 

At meetings held on June 16, 2025, the Board of Trustees (the Board or the Trustees) of AIM Equity Funds (Invesco Equity Funds) as a whole, and the independent Trustees, who comprise over 75% of the Board, voting separately, approved the continuance of the Invesco Summit Fund's (the Fund) Master Investment Advisory Agreement with Invesco Advisers, Inc. (Invesco Advisers and the investment advisory agreement) and the Master Intergroup Sub-Advisory Contract for Mutual Funds with Invesco Asset Management Deutschland GmbH\*, Invesco Asset Management Limited, Invesco Asset Management (Japan) Limited, Invesco Hong Kong Limited, Invesco Senior Secured Management, Inc. and Invesco Canada Ltd. (collectively, the Affiliated Sub-Advisers and the sub-advisory contracts) for another year, effective July 1, 2025. After evaluating the factors discussed below, among others, the Board approved the renewal of the Fund's investment advisory agreement and the sub-advisory contracts and determined that the compensation payable thereunder by the Fund to Invesco Advisers and by Invesco Advisers to the Affiliated Sub-Advisers is fair and reasonable.

**The Board's Evaluation Process**

The Board has established an Investments Committee, which in turn has established Sub-Committees. The Sub-Committees meet regularly throughout the year with portfolio managers and other members of management to review information about the investment performance and portfolio attributes for those funds advised by Invesco Advisers (Invesco Funds) assigned to them. The Board has established additional standing and ad hoc committees that meet throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the Board's annual review process for the Invesco Funds' investment advisory agreement and sub-advisory contracts (the annual review process). In considering whether to approve each Invesco Fund's investment advisory agreement and sub-advisory contracts, the Board took into account evaluations and reports that it received from its committees and sub-committees, as well as the information provided to the Board and its committees and sub-committees throughout the year.

As part of the annual review process, the Board reviews and considers information provided in response to requests for information submitted to management by the independent Trustees with assistance from legal counsel to the independent Trustees (independent legal counsel) and the Senior Officer, an officer of the Invesco Funds who reports directly to the independent Trustees. The Board receives comparative investment performance and fee and expense data regarding the Invesco Funds prepared by Broadridge Financial Solutions, Inc. (Broadridge), an independent provider of investment company data, as well as information on the composition of the peer groups and its methodology for determining peer groups. The Board also receives an independent written evaluation from the Senior Officer. The Senior Officer's evaluation is prepared as part of his responsibility to manage the process by which the Invesco Funds' proposed management fees

are negotiated during the annual review process to ensure they are negotiated in a manner that is at arms' length and reasonable in accordance with certain negotiated regulatory requirements. In addition to meetings with Invesco Advisers and fund counsel throughout the year and as part of meetings convened on May 6, 2025 and June 16-18, 2025, the independent Trustees also discussed the continuance of the investment advisory agreement and sub-advisory contracts in separate sessions with the Senior Officer and with independent legal counsel.

The discussion below includes summary information drawn in part from the Senior Officer's independent written evaluation with respect to the Fund's investment advisory agreement and sub-advisory contracts, as well as a discussion of the material factors and related conclusions that formed the basis for the Board's approval of the Fund's investment advisory agreement and sub-advisory contracts. The Trustees' review and conclusions are based on the comprehensive consideration of all information presented to them during the course of the year and are not the result of any single determinative factor. Moreover, one Trustee may have weighed a particular piece of information or factor differently than another Trustee.

**Factors and Conclusions and Summary of Independent Written Fee Evaluation**

*A.* *Nature, Extent and Quality of Services Provided by Invesco Advisers and the Affiliated Sub-Advisers*

The Board reviewed the nature, extent and quality of the advisory services provided to the Fund by Invesco Advisers under the Fund's investment advisory agreement, and the credentials and experience of the officers and employees of Invesco Advisers who provide these services, including the Fund's portfolio manager(s). The Board's review included consideration of Invesco Advisers' investment process and oversight, credit analysis, and research capabilities. The Board considered information regarding Invesco Advisers' programs for and resources devoted to risk management, including management of investment, enterprise, operational, liquidity, derivatives, valuation and compliance risks, and technology used to manage such risks. The Board received information regarding Invesco's methodology for compensating its investment professionals and the incentives and accountability it creates, as well as how it impacts Invesco's ability to attract and retain talent. The Board considered that Invesco Advisers has shown the willingness to commit resources to support investment in the business and to remain well-positioned to serve Fund shareholders including with regard to attracting and retaining qualified personnel on its investment teams and investing in technology. The Board received a description of, and reports related to, Invesco Advisers' global security program and business continuity plans and of its approach to data privacy and cybersecurity, including related testing. The Board also considered non-advisory services that Invesco Advisers and its affiliates provide to the Invesco Funds, such as various middle office and back office support functions, third party oversight, internal audit, valuation, portfolio trading and legal and compliance. The Board considered Invesco

Advisers' systems preparedness and ongoing investment to seek to manage, operate and oversee the Invesco Funds with minimal impact or disruption through challenging environments. The Board reviewed and considered the benefits to shareholders of investing in a Fund that is part of the family of funds under the umbrella of Invesco Ltd., Invesco Advisers' parent company, and noted Invesco Ltd.'s depth and experience in running an investment management business, as well as its commitment of financial and other resources to such business. The Board concluded that the nature, extent and quality of the services provided to the Fund by Invesco Advisers supported the renewal of the investment advisory agreement.

The Board reviewed the services that may be provided to the Fund by the Affiliated Sub-Advisers under the sub-advisory contracts and the credentials and experience of the officers and employees of the Affiliated Sub-Advisers who provide these services. The Board noted the Affiliated Sub-Advisers' expertise with respect to certain asset classes and that the Affiliated Sub-Advisers have offices and personnel that are located in financial centers around the world. As a result, the Board noted that the Affiliated Sub-Advisers can provide research and investment analysis on the markets and economies of various countries and territories in which the Fund may invest, make recommendations regarding securities and assist with portfolio trading. The Board concluded that the sub-advisory contracts may benefit the Fund and its shareholders by permitting Invesco Advisers to use the resources and talents of the Affiliated Sub-Advisers in managing the Fund. The Board concluded that the nature, extent and quality of the services that may be provided to the Fund by the Affiliated Sub-Advisers supported the renewal of the sub-advisory contracts.

*B.* *Fund Investment Performance*

The Board considered Fund investment performance as a relevant factor in considering whether to approve the investment advisory agreement. The Board did not view Fund investment performance as a relevant factor in considering whether to approve the sub-advisory contracts for the Fund, as no Affiliated Sub-Adviser currently manages assets of the Fund.

The Board compared the Fund's investment performance over multiple time periods ending December 31, 2024 to the performance of funds in the Broadridge performance universe and against the Russell 1000® Growth Index (Index). The Board noted that performance of Class A shares of the Fund was in the second quintile of its performance universe for the one year period, the third quintile for the three year period, and the fourth quintile for the five year period (the first quintile being the best performing funds on a relative basis and the fifth quintile being the worst performing funds on a relative basis). The Board noted that performance of Class A shares of the Fund was reasonably comparable to the performance of the Index for the one year period, and below the performance of the Index for the three and five year periods. The Board acknowledged limitations regarding the Broadridge data, in particular that differences may exist between the Fund's investment objective, principal investment strategies and/or investment restrictions and those of the funds in its performance universe and

**15**

**Invesco Summit Fund**

------

specifically that the Fund, unlike many of its peers and the Index, excludes tobacco, alcohol and gambling-related stocks. The Board recognized that the performance data reflects a snapshot in time as of a particular date and that selecting a different performance period could produce different results. The Board also reviewed more recent Fund performance as well as other performance metrics, which did not change its conclusions.

*C.* *Advisory and Sub-Advisory Fees and Fund Expenses*

The Board received information regarding Invesco Advisers' approach with respect to contractual management fee schedules and compared the Fund's contractual management fee rate to the contractual management fee rates of funds in the Fund's Broadridge expense group. The Board noted that the contractual management and actual management fee rates for Class A shares of the Fund were each reasonably comparable to the median contractual management and actual management fee rates of funds in its expense group. The Board noted that the term "contractual management fee" and "actual management fee" for funds in the expense group may include both advisory and certain non-portfolio management administrative services fees, but that Broadridge is not able to provide information on a fund-by-fund basis as to what is included. The Board also reviewed the methodology used by Broadridge in calculating expense group information, which includes using each fund's contractual management fee schedule (including any applicable breakpoints) as reported in the most recent prospectus or statement of additional information for each fund in the expense group. The Board also considered comparative information regarding the Fund's total expense ratio and its various components. The Board requested and received additional information regarding the Fund's actual and contractual management fees and the levels of the Fund's breakpoints in light of current asset levels.

The Board noted that Invesco Advisers has voluntarily agreed to waive fees and/or limit expenses of the Fund for an indefinite period until further notice to the Board in an amount necessary to limit total annual operating expenses to a specified percentage of average daily net assets for each class of the Fund.

The Board noted that Invesco Advisers and the Affiliated Sub-Advisers do not manage other similarly managed mutual funds or client accounts.

The Board also considered the services that may be provided by the Affiliated Sub-Advisers pursuant to the sub-advisory contracts, as well as the fees payable by Invesco Advisers to the Affiliated Sub-Advisers pursuant to the sub-advisory contracts.

*D.* *Economies of Scale and Breakpoints*

The Board considered the extent to which there may be economies of scale in the provision of advisory services to the Fund and the Invesco Funds, and the extent to which such economies of scale are shared with the Fund and the Invesco Funds. The Board acknowledged the limitations in calculating and measuring economies of scale at the individual fund level, noting that only indicative and estimated measures are available at the individual fund level and that such measures are subject to uncertainty. The Board considered that the Fund benefits from economies of scale through contractual breakpoints in the Fund's advisory fee schedule, which generally operate to reduce the Fund's expense ratio as it grows in size. The Board considered information

from Invesco Advisers regarding the levels of the Fund's breakpoints in light of current assets. The Board noted that the Fund also shares in economies of scale through Invesco Advisers' ability to negotiate lower fee arrangements with third party service providers. The Board noted that the Fund may also benefit from economies of scale through initial fee setting, fee waivers and expense reimbursements, as well as Invesco Advisers' management of significant assets and investment in its business, including investments in business infrastructure, technology and cybersecurity.

*E.* *Profitability and Financial Resources*

The Board reviewed information from Invesco Advisers concerning the costs of the advisory and other services that Invesco Advisers and its affiliates provide to the Fund and the Invesco Funds and the profitability of Invesco Advisers and its affiliates in providing these services in the aggregate and on an individual fund-by-fund basis. The Board considered the methodology used for calculating profitability and the periodic review and enhancement of such methodology. The Board noted that Invesco Advisers continues to operate at a net profit from services Invesco Advisers and its affiliates provide to the Invesco Funds in the aggregate and to most Invesco Funds individually. The Board considered that profits to Invesco Advisers can vary significantly depending on the particular Invesco Fund, with some Invesco Funds showing indicative losses to Invesco Advisers and others showing indicative profits at healthy levels, and that Invesco Advisers' support for and commitment to an Invesco Fund are not, however, solely dependent on the profits attributed to such Fund. The Board did not deem the level of profits realized by Invesco Advisers and its affiliates from providing such services to be excessive, given the nature, extent and quality of the services provided. The Board noted that Invesco Advisers provided information demonstrating that Invesco Advisers is financially sound and has the resources necessary to perform its obligations under the investment advisory agreement, and provided representations indicating that the Affiliated Sub-Advisers are financially sound and have the resources necessary to perform their obligations under the sub-advisory contracts. The Board noted the cyclical and competitive nature of the global asset management industry.&nbsp;&nbsp;&nbsp;&nbsp;

*F.* *Collateral Benefits to Invesco Advisers and its Affiliates*

The Board considered various other benefits received by Invesco Advisers and its affiliates from the relationship with the Fund, including the fees received for providing administrative, transfer agency and distribution services to the Fund. The Board received comparative information regarding fees charged for these services, including information provided by Broadridge and other independent sources. The Board reviewed the performance of Invesco Advisers and its affiliates in providing these services and the organizational structure employed to provide these services. The Board noted that these services are provided to the Fund pursuant to written contracts that are reviewed and subject to approval on an annual basis by the Board based on its reasonable business judgement and in accordance with applicable regulatory guidance.

The Board considered the benefits realized by Invesco Advisers and the Affiliated Sub-Advisers as a result of portfolio brokerage transactions executed through "soft dollar" arrangements. The Board noted

that soft dollar arrangements may result in the Fund bearing costs to purchase research that may be used by Invesco Advisers or the Affiliated Sub-Advisers with other clients and may reduce Invesco Advisers' or the Affiliated Sub-Advisers' expenses. The Board also considered that it receives from Invesco Advisers periodic reports that include a representation to the effect that these arrangements are consistent with regulatory requirements. The Board did not deem the soft dollar arrangements to be inappropriate.

The Board considered that the Fund's uninvested cash and cash collateral from any securities lending arrangements may be invested in registered money market funds or, with regard to securities lending cash collateral, unregistered funds that comply with Rule 2a-7 under the Investment Company Act of 1940 (collectively referred to as "affiliated money market funds") advised by Invesco Advisers. The Board considered information regarding the returns of the affiliated money market funds relative to comparable overnight investments, as well as the fees paid by the affiliated money market funds to Invesco Advisers and its affiliates. In this regard, the Board noted that Invesco Advisers receives advisory fees from these affiliated money market funds attributable to the Fund's investments. The Board also noted that Invesco Advisers has contractually agreed to waive through varying periods an amount equal to 100% of the net advisory fee Invesco Advisers receives from the affiliated money market funds with respect to the Fund's investment in the affiliated money market funds of uninvested cash, but not cash collateral. The Board concluded that the advisory fees payable to Invesco Advisers from the Fund's investment of cash collateral from any securities lending arrangements in the affiliated money market funds are for services that are not duplicative of services provided by Invesco Advisers to the Fund.

The Board considered that Invesco Advisers may serve as the Fund's affiliated securities lending agent and evaluated the benefits realized by Invesco Advisers when serving in such role, including the compensation received. The Board considered Invesco Advisers' securities lending platform and corporate governance structure for securities lending, including Invesco Advisers' Securities Lending Governance Committee and its related responsibilities. The Board noted that to the extent the Fund utilizes Invesco Advisers as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services without obtaining exemptive relief. The Board considered information provided by Invesco Advisers related to the performance of Invesco Advisers as securities lending agent, including a summary of the securities lending services provided to the Fund by Invesco Advisers and the compensation paid to Invesco Advisers for such services, as well as any revenues generated for the Fund in connection with such securities lending activity and the allocation of such revenue between the Fund and Invesco Advisers.

The Board also received information about commissions that an affiliated broker may receive for executing certain trades for the Fund. Invesco Advisers and the Affiliated Sub-Advisers advised the Board of the benefits to the Fund of executing trades through the affiliated broker and that such trades

**16**

**Invesco Summit Fund**

------

were executed in compliance with rules under the federal securities laws and consistent with best execution obligations.

\* Effective as of August 29, 2025, Invesco Asset Management Deutschland GmbH merged into Invesco Management S.A.

**17**

**Invesco Summit Fund**

------

**Tax Information**

Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state's requirement.

The Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended October 31, 2025:

---

| | |
|:---|:---|
| **Federal and State Income Tax** |  |
| Long-Term Capital Gain Distributions | &nbsp;&nbsp; $92144706 |
| Qualified Dividend Income\* | &nbsp;&nbsp; 0.00% |
| Corporate Dividends Received Deduction\* | &nbsp;&nbsp; 0.00% |
| U.S. Treasury Obligations\* | &nbsp;&nbsp; 0.00% |
| Qualified Business Income\* | &nbsp;&nbsp; 0.00% |
| Business Interest Income\* | &nbsp;&nbsp; 0.00% |

---

\*

The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year.

**18**

**Invesco Summit Fund**

------

**Other Information Required in Form N-CSR (Items 8-11)**

**<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Proxy Disclosures for Open-End Management Investment Companies</u>**

Not applicable.

**<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>**

The aggregate remuneration paid to directors, officers and others is disclosed within the financial statements.

**<u>Statement Regarding Basis for Approval of Investment Advisory Contracts</u>**

The statement regarding basis for approval of investment advisory contracts can be found in the Approval of Investment Advisory and Sub-Advisory Contracts section of this report.

**19**

**Invesco Summit Fund**

------

![](img99b7313d1.jpg)

SEC file number(s): 811-01424 and 002-25469

Invesco Distributors, Inc.

SUM-NCSR

------

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Not applicable.

------

Item 9. Proxy Disclosures for Open-End Management Investment Companies.

Not applicable.

------

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.

This information is filed under Item 7 of this Form N-CSR.

------

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

This information is filed under Item 7 of this Form N-CSR.

------

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

------

Item 13. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

------

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

------

Item 15. Submission of Matters to a Vote of Security Holders.

None.

------

Item 16. Controls and Procedures.

(a) As of a date within 90 days of the filing date of this report, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the PEO and PFO, to assess the effectiveness of the Registrant's disclosure controls and procedures, as that term is defined in Rule 30a-3(c) under the Act. Based on that evaluation, the Registrant's officers, including the PEO and PFO, concluded that the Registrant's disclosure controls and procedures were reasonably designed to ensure: (1) that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure.

(b) There have been no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

------

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

------

Item 18. Recovery of Erroneously Awarded Compensation.

Not applicable.

------

Item 19. Exhibits.

[(a)(1) Code of Ethics is attached as Exhibit 99.CODEETH.](Code_of_Ethics.htm)

(a)(2) Not applicable.

[(a)(3) Certifications of the Registrant's PEO and PFO pursuant to Rule 30a-2(a) under the Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached as Exhibit 99.CERT.](Section_302_Certification.htm)

(a)(4) Not applicable.

(a)(5) Not applicable.

[(b) Certifications of Registrant's PEO and PFO pursuant to Rule 30a-2(b) under the Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached as Exhibit 99.906CERT.](Section_906_Certification.htm)

------

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) <u>AIM Equity Funds (Invesco Equity Funds)</u>

By: <u>/s/ Glenn Brightman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> <u>.</u>

Name: Glenn Brightman

Title: Principal Executive Officer

Date: January 5, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By: <u>/s/ Glenn Brightman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> <u>.</u>

Name: Glenn Brightman

Title: Principal Executive Officer

Date: January 5, 2026

By: <u>/s/ Adrien Deberghes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> 

Name: Adrien Deberghes

Title: Principal Financial Officer

Date: January 5, 2026

------

## Ex-99.Code

#### Exhibit 99.CODEETH

#### EXHIBIT (a)(1)

### CODE OF ETHICS FOR PRINCIPAL EXECUTIVE AND SENIOR FINANCIAL OFFICERS

---

| | |
|:---|:---|
| **Applicable To**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·Invesco Funds; <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·Invesco ETFs (together with the Invesco Funds, a "Fund," and collectively, the "Funds").  |
| **Risk Addressed by Policy**  | Ethics Violations by Principals  |
| **Relevant Law & Related Resources**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·Investment Company Act of 1940; <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·Sarbanes-Oxley Act of 2002.  |
| **Date of Last Review**  | July 2025  |
| **Policy Inception Date**  | August 2003  |

---

I.  **<u>PURPOSE</u>** 

This Code of Ethics (the "Code") for the Invesco Funds and the Invesco ETFs applies to each Fund's Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer or Controller or persons performing similar functions (collectively, the "Covered Officers," each of whom is set forth in Exhibit A to this Code) for the purpose of promoting:

· honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

· full, fair, accurate, timely and understandable disclosure in reports and documents that a registrant files with, or submits to, the Securities and Exchange Commission ("SEC") and in other public communications made by the registrant;

· compliance with applicable governmental laws, rules and regulations;

· prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and

· accountability for adherence to the Code.

The Code shall be administered by the Chief Compliance Officer of the respective Funds (the "Chief Compliance Officer"), or his or her delegate. Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

------

The Chief Compliance Officer is responsible for applying this Code to specific situations in which questions are presented under it and has the authority to interpret this Code in any particular situation. However, any waivers<sup>1</sup> sought by a Covered Officer must be considered by the Independent Trustees<sup>2</sup> of the relevant Fund or Funds. Any question about the application of the Code should be referred to the Funds' Chief Compliance Officer.

II.  **<u>COVERED OFFICERS TO ACT HONESTLY AND CANDIDLY</u>** 

Each Covered Officer named in Exhibit A to this Code owes a duty to the respective Fund for which he/she serves to act with integrity. Integrity requires, among other things, being honest and candid. Deceit and subordination of principle are inconsistent with integrity.

Each Covered Officer must:

• act with integrity, including being honest and candid while still maintaining the confidentiality of information where required by law or the Funds' policies;

• observe both the form and spirit of laws and governmental rules and regulations and accounting standards;

• adhere to a high standard of business ethics; and

• place the interest of the Funds and its shareholders before the Covered Officer's own personal interests.

III.  **<u>COVERED OFFICERS SHOULD HANDLE ETHICAL, ACTUAL AND APPARENT CONFLICTS OF INTEREST</u>** 

**<u>Overview</u>. A "conflict of interest" occurs when a Covered Officer's private interest interferes, or appears to interfere, with the interests of, or his/her service to, the Funds. For example, a conflict of interest would arise if a Covered Officer, or a member of his/her family, receives improper personal benefits as a result of his/her position with the Funds.** 

------

Certain conflicts of interest arise out of the relationships between Covered Officers and the Funds and already are subject to conflict-of-interest provisions in the Investment Company Act of 1940 as amended ("Investment Company Act"), and the Investment Advisers Act of 1940, as amended ("Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with a Fund because of their status as "affiliated persons" (as defined in the Investment Company Act) of the Funds or the Funds' investment adviser. The Funds' and their investment adviser's and any sub-adviser's compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside the parameters of this Code, unless or until the Chief Compliance Officer determines that any violation of such programs and procedures is also a violation of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts may arise from, or as a result of, the contractual relationship between the Funds and their investment adviser of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Funds or for the investment adviser, or for both), be involved in establishing policies and implementing decisions that will have different effects on the Funds and their investment adviser. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the Fund and the investment adviser and is consistent with the performance by the Covered Officers of their duties as officers of the Funds. Thus, if performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, such activities will be deemed to have been handled ethically. In addition, it is recognized by the Funds' Board of Trustees ("Board") that the Covered Officers may also be officers or employees of one or more other investment companies covered by this or other codes.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of the Funds.

Each Covered Officer must:

• avoid conflicts of interest wherever possible;

• handle any actual or apparent conflict of interest ethically;

• not use his/her personal influence or personal relationships to influence investment decisions or financial reporting by the Funds whereby the Covered Officer would benefit personally (directly or indirectly) to the detriment of the Funds;

• not cause the Funds to take action, or fail to take action, for the personal benefit of the Covered Officer rather than the benefit of the Funds;

• not use material non-public knowledge of portfolio transactions made or contemplated for, or actions proposed to be taken by, the Funds to trade personally or cause others to trade personally in contemplation of the market effect of such transactions; and

• as described in more detail below, discuss any material transactions or relationship that could reasonably be expected to give rise to a conflict of interest with the applicable Chief Compliance Officer.

------

Each Covered Officer must, at the time of signing this Code, report to the Chief Compliance Officer all affiliations or significant business relationships outside of the Funds and must update the report annually.

Conflict of interest situations should always be approved by the Chief Compliance Officer and communicated to the relevant Funds or Fund's Board. Any activity or relationship that would present such a conflict for a Covered Officer would likely also present a conflict for the Covered Officer if an immediate member of the Covered Officer's family living in the same household engages in such an activity or has such a relationship. Examples of these include:

• service or significant business relationships as a trustee/director on the board of any public or private company;

• being in the position of supervising, reviewing or having any influence on the job evaluation, pay or benefit of any immediate family member;

• any ownership interest in, or any consulting or employment relationship with, any of the Funds' service providers, other than its investment adviser, principal underwriter, or any affiliated person thereof; and

• a direct or indirect financial interest in commissions, transaction charges or spreads paid by the Funds for effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Officer's employment with Invesco, its subsidiaries, its parent organizations and any affiliates or subsidiaries thereof, such as compensation or equity ownership.

IV.  **<u>DISCLOSURE AND COMPLIANCE</u>** 

Each Covered Officer should:

• familiarize himself/herself with the disclosure and compliance requirements generally applicable to the Funds;

• not knowingly misrepresent, conceal or omit required disclosures of, or cause others to do the same, facts about the Funds to others, whether within or outside the Funds, including to the Funds' Trustees and auditors, or to governmental regulators and self-regulatory organizations;

• to the extent appropriate within his/her area of responsibility, consult with other officers and employees of the Funds and their investment adviser with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Funds file with, or submit to, the SEC and in other public communications made by the Funds; and

• promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations.

V.  **<u>REPORTING AND ACCOUNTABILITY</u>** 

Each Covered Officer must:

• upon adoption of the Code (thereafter as applicable, upon becoming a Covered Officer), affirm in writing to the Chief Compliance Officer that he/she has received, read and understands the Code;

• annually thereafter, affirm to the Chief Compliance Officers that he/she has complied with the requirements of the Code;

------

• not retaliate against any other Covered Officer, other officer or any employee of the Funds or their affiliated persons for reports of potential violations that are made in good faith; and

• notify the Chief Compliance Officer promptly if he/she knows of or suspects any violation of this Code. Failure to do so is itself a violation of this Code.

The Funds will follow these procedures in investigating and enforcing this Code, and in reporting on the Code:

• the Chief Compliance Officer will take all appropriate action to investigate any potential violation reported to him/her;

• if, after such investigation, the Chief Compliance Officer believes that no violation has occurred, the Chief Compliance Officer is not required to take any further action;

• any matter that the Chief Compliance Officer believes is a violation will be reported to the relevant Trust's Audit Committee;

• if the Independent Trustees of the relevant Funds concur that a violation has occurred, they will consider appropriate action, which may include review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the investment adviser or its board; or a recommendation to dismiss the Covered Officer or other appropriate disciplinary actions;

• the Independent Trustees of the relevant Funds will be responsible for granting waivers of this Code, as appropriate; and

• any changes to, or waivers of, this Code will, to the extent required, be disclosed as provided by SEC rules.

VI.  **<u>OTHER POLICIES AND PROCEDURES</u>** 

This Code shall be the sole code of ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Funds, the Funds' investment adviser, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code unless any provision of this Code conflicts with any applicable federal or state law, in which case the requirements of such law will govern. The Funds' and their investment adviser's and principal underwriter's codes of ethics under Rule 17j-1 under the Investment Company Act are separate requirements applying to the Covered Officers and others, and are not part of this Code.

VII.  **<u>AMENDMENTS</u>** 

------

These Procedures have been adopted by the Board, including a majority of the Trustees who are not interested persons (as defined in the Investment Company Act) of the Funds (the "Independent Trustees"). All material amendments to these Procedures must either be approved in advance by the Board and the Independent Trustees or ratified by the Board and the Independent Trustees, as determined by Legal and Compliance upon consultation with counsel to the Funds. Non-material amendments to these Procedures may be made by Legal and Compliance and will be reported to the Compliance Committee or other applicable committee of the Board or to the Board at the next scheduled in-person meeting of the committee or Board.

VIII.  **<u>CONFIDENTIALITY</u>** 

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Covered Officers, the Chief Compliance Officer, Independent Trustees of the relevant Fund or Funds and the Independent Trustees' counsel, the relevant Fund or Funds and those Funds' counsel and the senior management of the investment adviser and its counsel.

IX.  **<u>INTERNAL USE</u>** 

The Code is intended solely for the internal use by the Funds and does not constitute an admission, by or on behalf of any Fund, as to any fact, circumstance, or legal conclusion.

I have read and understand the terms of the above Code. I recognize the responsibilities and obligations incurred by me as a result of my being subject to the Code. I hereby agree to abide by the above Code.

------

#### EXHIBIT A
Persons Covered by this Code of Ethics:

• **Invesco Funds** 

• President and Principal Executive Officer - Glenn Brightman

• Treasurer and Principal Financial Officer - Adrian Deberghes

• **Invesco ETFs** 

• President and Principal Executive Officer — Brian Hartigan

• Treasurer and Principal Financial Officer — Kelli Gallegos

<sup>1</sup> Item 2 of Form N-CSR defines "waiver" as "the approval by the registrant of a material departure from a provision of the code of ethics" and "implicit waiver," which must also be disclosed, as "the registrant's failure to take action within a reasonable period of time regarding a material departure from a provision of the code of ethics that has been made known to an executive officer, as defined in Rule 3b-7 under the Securities Exchange Act of 1934, of the registrant."<br>

<sup>2</sup> Trustees who are not interested persons (as defined in the Investment Company Act) of the Funds

------

## Exhibit 99.906

#### Exhibit 99.906

#### &nbsp;&nbsp;&nbsp;&nbsp; EXHIBIT (b)

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
CERTIFICATIONS PURSUANT TO RULE 30A-2(B) UNDER THE 1940 ACT AND SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Certified Shareholder Report of AIM Equity Funds (Invesco Equity Funds) on Form N-CSR for the period ended October 31, 2025, as filed with the Securities and Exchange Commission (the "Report"), I, Glenn Brightman, Principal Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | |
|:---|:---|
| Date: January 5, 2026  | /s/ Glenn Brightman  |
|  | Glenn Brightman <br> Principal Executive Officer  |

---

------

#### Exhibit 99.906

#### &nbsp;&nbsp;&nbsp;&nbsp; EXHIBIT (b)

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
CERTIFICATIONS PURSUANT TO RULE 30A-2(B) UNDER THE 1940 ACT AND SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Certified Shareholder Report of AIM Equity Funds (Invesco Equity Funds) on Form N-CSR for the period ended October 31, 2025, as filed with the Securities and Exchange Commission (the "Report"), I, Adrien Deberghes, Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | |
|:---|:---|
| Date: January 5, 2026  | /s/ Adrien Deberghes  |
|  | Adrien Deberghes <br> Principal Financial Officer  |

---

------

## Ex-99.Cert

#### Exhibit 99.CERT

#### EXHIBIT (a)(3)
CERTIFICATIONS PURSUANT TO RULE 30A-2(A) UNDER THE 1940 ACT AND SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

I, Glenn Brightman, certify that:

1. I have reviewed this report on Form N-CSR of AIM Equity Funds (Invesco Equity Funds);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;

4. The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation;

(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer and I have disclosed to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting.

Date:&nbsp;&nbsp;&nbsp;&nbsp; <u>&nbsp;&nbsp;&nbsp;&nbsp; January 5, 2026</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Glenn Brightman</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Glenn Brightman

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Principal Executive Officer

------

#### Exhibit 99.CERT

#### EXHIBIT (a)(3)
CERTIFICATIONS PURSUANT TO RULE 30A-2(A) UNDER THE 1940 ACT AND SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

I, Adrien Deberghes, certify that:

1. I have reviewed this report on Form N-CSR of AIM Equity Funds (Invesco Equity Funds);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;

4. The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation;

(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer and I have disclosed to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting.

Date:<u>January 5, 2026</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Adrien Deberghes</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adrien Deberghes

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal Financial Officer

------