# EDGAR Filing Document

**Accession Number:** 0001378872
**File Stem:** 0001752724-25-180490
**Filing Date:** 2025-7
**Character Count:** 130757
**Document Hash:** 2fea8cedcf5e956d06a9e3fc5d0a66ff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-180490.hdr.sgml**: 20250728

**ACCESSION NUMBER**: 0001752724-25-180490

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250728

**DATE AS OF CHANGE**: 20250728

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Invesco Exchange-Traded Fund Trust II
- **CENTRAL INDEX KEY:** 0001378872

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21977
- **FILM NUMBER:** 251154376

**BUSINESS ADDRESS:**
- **STREET 1:** 3500 LACEY ROAD
- **STREET 2:** SUITE 700
- **CITY:** DOWNERS GROVE
- **STATE:** IL
- **ZIP:** 60515
- **BUSINESS PHONE:** 800-983-0903

**MAIL ADDRESS:**
- **STREET 1:** 3500 LACEY ROAD
- **STREET 2:** SUITE 700
- **CITY:** DOWNERS GROVE
- **STATE:** IL
- **ZIP:** 60515

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PowerShares Exchange-Traded Fund Trust II
- **DATE OF NAME CHANGE:** 20070919

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PowerShares Global Exchange-Traded Fund Trust
- **DATE OF NAME CHANGE:** 20061023

## Series and Classes Contracts Data

### Invesco ESG NASDAQ 100 ETF (Series ID: S000073013)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000229782 | Invesco ESG NASDAQ 100 ETF |  |

## Nport-Ex

Schedule of Investments<sup>(a)</sup>

**Invesco ESG NASDAQ 100 ETF (QQMG)**

May 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.88%** | **Common Stocks & Other Equity Interests-99.88%** | **Common Stocks & Other Equity Interests-99.88%** |
| **Communication Services-12.75%** | **Communication Services-12.75%** | **Communication Services-12.75%** |
| Alphabet, Inc., Class A | 9337 | &nbsp;&nbsp; $1603536 |
| Alphabet, Inc., Class C | 8799 | &nbsp;&nbsp; 1520907 |
| Charter Communications, Inc., Class A<sup>(b)</sup> | 602 | &nbsp;&nbsp; 238554 |
| Comcast Corp., Class A | 17395 | &nbsp;&nbsp; 601345 |
| Electronic Arts, Inc. | 1833 | &nbsp;&nbsp; 263549 |
| Meta Platforms, Inc., Class A | 1683 | &nbsp;&nbsp; 1089726 |
| Netflix, Inc.<sup>(b)</sup> | 2720 | &nbsp;&nbsp; 3283666 |
| Take-Two Interactive Software, Inc.<sup>(b)</sup> | 1107 | &nbsp;&nbsp; 250492 |
| T-Mobile US, Inc. | 5058 | &nbsp;&nbsp; 1225048 |
| Trade Desk, Inc. (The), Class A<sup>(b)</sup> | 2024 | &nbsp;&nbsp; 152245 |
| Warner Bros. Discovery, Inc.<sup>(b)</sup> | 13968 | &nbsp;&nbsp; 139261 |
|  |  | &nbsp;&nbsp; 10368329 |
| **Consumer Discretionary-11.66%** | **Consumer Discretionary-11.66%** | **Consumer Discretionary-11.66%** |
| Airbnb, Inc., Class A<sup>(b)</sup> | 1871 | &nbsp;&nbsp; 241359 |
| Amazon.com, Inc.<sup>(b)</sup> | 14414 | &nbsp;&nbsp; 2955014 |
| Booking Holdings, Inc. | 216 | &nbsp;&nbsp; 1192089 |
| DoorDash, Inc., Class A<sup>(b)</sup> | 1704 | &nbsp;&nbsp; 355540 |
| lululemon athletica, inc.<sup>(b)</sup> | 784 | &nbsp;&nbsp; 248269 |
| Marriott International, Inc., Class A | 1482 | &nbsp;&nbsp; 390996 |
| MercadoLibre, Inc. (Brazil)<sup>(b)</sup> | 230 | &nbsp;&nbsp; 589557 |
| O'Reilly Automotive, Inc.<sup>(b)</sup> | 420 | &nbsp;&nbsp; 574350 |
| PDD Holdings, Inc., ADR (China)<sup>(b)</sup> | 1917 | &nbsp;&nbsp; 185010 |
| Ross Stores, Inc. | 1971 | &nbsp;&nbsp; 276117 |
| Starbucks Corp. | 5215 | &nbsp;&nbsp; 437799 |
| Tesla, Inc.<sup>(b)</sup> | 5880 | &nbsp;&nbsp; 2037185 |
|  |  | &nbsp;&nbsp; 9483285 |
| **Consumer Staples-4.04%** | **Consumer Staples-4.04%** | **Consumer Staples-4.04%** |
| &nbsp;&nbsp;&nbsp; Coca-Cola Europacific Partners PLC (United <br> Kingdom)<br>| 2776 | &nbsp;&nbsp; 254809 |
| Costco Wholesale Corp. | 1258 | &nbsp;&nbsp; 1308546 |
| Keurig Dr Pepper, Inc. | 5552 | &nbsp;&nbsp; 186936 |
| Kraft Heinz Co. (The) | 2769 | &nbsp;&nbsp; 74015 |
| Mondelez International, Inc., Class A | 6064 | &nbsp;&nbsp; 409259 |
| Monster Beverage Corp.<sup>(b)</sup> | 1798 | &nbsp;&nbsp; 114982 |
| PepsiCo, Inc. | 7141 | &nbsp;&nbsp; 938685 |
|  |  | &nbsp;&nbsp; 3287232 |
| **Financials-0.53%** | **Financials-0.53%** | **Financials-0.53%** |
| PayPal Holdings, Inc.<sup>(b)</sup> | 6104 | &nbsp;&nbsp; 428989 |
| **Health Care-5.23%** | **Health Care-5.23%** | **Health Care-5.23%** |
| Amgen, Inc. | 2408 | &nbsp;&nbsp; 693937 |
| AstraZeneca PLC, ADR (United Kingdom) | 2751 | &nbsp;&nbsp; 200355 |
| Biogen, Inc.<sup>(b)</sup> | 740 | &nbsp;&nbsp; 96045 |
| DexCom, Inc.<sup>(b)</sup> | 2009 | &nbsp;&nbsp; 172372 |
| GE HealthCare Technologies, Inc. | 2205 | &nbsp;&nbsp; 155541 |
| Gilead Sciences, Inc. | 5933 | &nbsp;&nbsp; 653105 |
| IDEXX Laboratories, Inc.<sup>(b)</sup> | 502 | &nbsp;&nbsp; 257707 |
| Intuitive Surgical, Inc.<sup>(b)</sup> | 2037 | &nbsp;&nbsp; 1125117 |
| Regeneron Pharmaceuticals, Inc. | 604 | &nbsp;&nbsp; 296129 |
| Vertex Pharmaceuticals, Inc.<sup>(b)</sup> | 1366 | &nbsp;&nbsp; 603840 |
|  |  | &nbsp;&nbsp; 4254148 |
| **Industrials-3.45%** | **Industrials-3.45%** | **Industrials-3.45%** |
| Automatic Data Processing, Inc. | 2633 | &nbsp;&nbsp; 857121 |
| Cintas Corp. | 2410 | &nbsp;&nbsp; 545865 |
| Copart, Inc.<sup>(b)(c)</sup> | 5465 | &nbsp;&nbsp; 281338 |
| Fastenal Co. | 4465 | &nbsp;&nbsp; 184583 |
| Old Dominion Freight Line, Inc. | 1331 | &nbsp;&nbsp; 213186 |
| PACCAR, Inc. | 1178 | &nbsp;&nbsp; 110555 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| Paychex, Inc.<sup>(c)</sup> | 2184 | &nbsp;&nbsp; $344876 |
| Verisk Analytics, Inc. | 864 | &nbsp;&nbsp; 271417 |
|  |  | &nbsp;&nbsp; 2808941 |
| **Information Technology-59.73%** | **Information Technology-59.73%** | **Information Technology-59.73%** |
| Adobe, Inc.<sup>(b)</sup> | 2935 | &nbsp;&nbsp; 1218289 |
| Advanced Micro Devices, Inc.<sup>(b)</sup> | 11588 | &nbsp;&nbsp; 1283139 |
| ANSYS, Inc.<sup>(b)</sup> | 578 | &nbsp;&nbsp; 191214 |
| Apple, Inc. | 34750 | &nbsp;&nbsp; 6979538 |
| Applied Materials, Inc. | 6010 | &nbsp;&nbsp; 942068 |
| AppLovin Corp., Class A<sup>(b)</sup> | 1675 | &nbsp;&nbsp; 658275 |
| &nbsp;&nbsp;&nbsp; ASML Holding N.V., New York Shares <br> (Netherlands)<br>| 741 | &nbsp;&nbsp; 545947 |
| Atlassian Corp., Class A<sup>(b)</sup> | 953 | &nbsp;&nbsp; 197871 |
| Autodesk, Inc.<sup>(b)</sup> | 1389 | &nbsp;&nbsp; 411311 |
| Broadcom, Inc. | 15781 | &nbsp;&nbsp; 3820107 |
| Cadence Design Systems, Inc.<sup>(b)</sup> | 1820 | &nbsp;&nbsp; 522467 |
| CDW Corp. | 1117 | &nbsp;&nbsp; 201462 |
| Cisco Systems, Inc. | 28091 | &nbsp;&nbsp; 1770857 |
| Cognizant Technology Solutions Corp., Class A | 3172 | &nbsp;&nbsp; 256900 |
| CrowdStrike Holdings, Inc., Class A<sup>(b)</sup> | 1352 | &nbsp;&nbsp; 637292 |
| Datadog, Inc., Class A<sup>(b)</sup> | 1971 | &nbsp;&nbsp; 232341 |
| Fortinet, Inc.<sup>(b)</sup> | 4809 | &nbsp;&nbsp; 489460 |
| GLOBALFOUNDRIES, Inc.<sup>(b)(c)</sup> | 3341 | &nbsp;&nbsp; 119608 |
| Intel Corp. | 23463 | &nbsp;&nbsp; 458702 |
| Intuit, Inc. | 1686 | &nbsp;&nbsp; 1270350 |
| KLA Corp. | 930 | &nbsp;&nbsp; 703898 |
| Lam Research Corp. | 9277 | &nbsp;&nbsp; 749489 |
| Marvell Technology, Inc. | 5408 | &nbsp;&nbsp; 325508 |
| Microchip Technology, Inc. | 1429 | &nbsp;&nbsp; 82939 |
| Micron Technology, Inc. | 6201 | &nbsp;&nbsp; 585746 |
| Microsoft Corp. | 19237 | &nbsp;&nbsp; 8855945 |
| MicroStrategy, Inc., Class A<sup>(b)</sup> | 551 | &nbsp;&nbsp; 203352 |
| NVIDIA Corp. | 66170 | &nbsp;&nbsp; 8941552 |
| NXP Semiconductors N.V. (Netherlands) | 1537 | &nbsp;&nbsp; 293767 |
| ON Semiconductor Corp.<sup>(b)</sup> | 2063 | &nbsp;&nbsp; 86687 |
| Palantir Technologies, Inc., Class A<sup>(b)</sup> | 10326 | &nbsp;&nbsp; 1360760 |
| Palo Alto Networks, Inc.<sup>(b)</sup> | 4661 | &nbsp;&nbsp; 896870 |
| QUALCOMM, Inc. | 7588 | &nbsp;&nbsp; 1101778 |
| Roper Technologies, Inc. | 574 | &nbsp;&nbsp; 327335 |
| Synopsys, Inc.<sup>(b)</sup> | 1045 | &nbsp;&nbsp; 484859 |
| Texas Instruments, Inc. | 4290 | &nbsp;&nbsp; 784427 |
| Workday, Inc., Class A<sup>(b)</sup> | 1326 | &nbsp;&nbsp; 328463 |
| Zscaler, Inc.<sup>(b)(c)</sup> | 936 | &nbsp;&nbsp; 258055 |
|  |  | &nbsp;&nbsp; 48578628 |
| **Materials-2.01%** | **Materials-2.01%** | **Materials-2.01%** |
| Linde PLC | 3496 | &nbsp;&nbsp; 1634660 |
| **Real Estate-0.18%** | **Real Estate-0.18%** | **Real Estate-0.18%** |
| CoStar Group, Inc.<sup>(b)</sup> | 1965 | &nbsp;&nbsp; 144545 |
| **Utilities-0.30%** | **Utilities-0.30%** | **Utilities-0.30%** |
| Exelon Corp. | 5495 | &nbsp;&nbsp; 240791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $68,949,749) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $68,949,749) | &nbsp;&nbsp; 81229548 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco ESG NASDAQ 100 ETF (QQMG)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-0.09%** | **Money Market Funds-0.09%** | **Money Market Funds-0.09%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.24%<sup>(d)(e)</sup> <br>(Cost $76,231)<br>| 76231 | &nbsp;&nbsp; $76231 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-99.97% <br>(Cost $69,025,980) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-99.97% <br>(Cost $69,025,980) | &nbsp;&nbsp; 81305779 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-1.05%** | **Money Market Funds-1.05%** | **Money Market Funds-1.05%** |
| Invesco Private Government Fund, 4.29%<sup>(d)(e)(f)</sup> | 236301 | &nbsp;&nbsp; 236301 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-(continued)** | **Money Market Funds-(continued)** | **Money Market Funds-(continued)** |
| Invesco Private Prime Fund, 4.45%<sup>(d)(e)(f)</sup> | 616150 | &nbsp;&nbsp; $616273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $852,574) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $852,574) | &nbsp;&nbsp; 852574 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-101.02% <br>(Cost $69,878,554) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-101.02% <br>(Cost $69,878,554) | &nbsp;&nbsp; 82158353 |
| OTHER ASSETS LESS LIABILITIES-(1.02)% | OTHER ASSETS LESS LIABILITIES-(1.02)% | &nbsp;&nbsp; (827663)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $81330690 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Investment Abbreviations: <br> ADR -American Depositary Receipt

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | 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 <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at May 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 <br> 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 <br> affiliates for the nine months ended May 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 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>**(Loss)**<br>| **Value** <br>**May 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & <br> Agency Portfolio, Institutional <br> Class<br>| &nbsp;&nbsp;&nbsp; $59151 | &nbsp;&nbsp;&nbsp; $472707 | &nbsp;&nbsp;&nbsp; $(455627)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $76231 | &nbsp;&nbsp;&nbsp; $1115 |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 86430 | &nbsp;&nbsp;&nbsp; 13606573 | &nbsp;&nbsp;&nbsp; (13456702)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 236301 | &nbsp;&nbsp;&nbsp; 14,935<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 224802 | &nbsp;&nbsp;&nbsp; 28117056 | &nbsp;&nbsp;&nbsp; (27725268)<br>| &nbsp;&nbsp;&nbsp; (17)<br>| &nbsp;&nbsp;&nbsp; (300)<br>| &nbsp;&nbsp;&nbsp; 616273 | &nbsp;&nbsp;&nbsp; 39,567<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $370383 | &nbsp;&nbsp;&nbsp; $42196336 | &nbsp;&nbsp;&nbsp; $(41637597)<br>| &nbsp;&nbsp;&nbsp; $(17)<br>| &nbsp;&nbsp;&nbsp; $(300)<br>| &nbsp;&nbsp;&nbsp; $928805 | &nbsp;&nbsp;&nbsp; $55617 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of May 31, 2025. <br> <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.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup>

**Invesco ESG NASDAQ Next Gen 100 ETF (QQJG)**

May 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.86%** | **Common Stocks & Other Equity Interests-99.86%** | **Common Stocks & Other Equity Interests-99.86%** |
| **Communication Services-8.00%** | **Communication Services-8.00%** | **Communication Services-8.00%** |
| Fox Corp., Class A | 1267 | &nbsp;&nbsp; $69609 |
| Fox Corp., Class B | 1370 | &nbsp;&nbsp; 68884 |
| Liberty Broadband Corp., Class A<sup>(b)</sup> | 81 | &nbsp;&nbsp; 7525 |
| Liberty Broadband Corp., Class C<sup>(b)(c)</sup> | 544 | &nbsp;&nbsp; 51027 |
| Liberty Media Corp.-Liberty Formula One<sup>(b)(c)</sup> | 970 | &nbsp;&nbsp; 93634 |
| Liberty Media Corp.-Liberty Formula One<sup>(b)(c)</sup> | 104 | &nbsp;&nbsp; 9164 |
| NetEase, Inc., ADR (China) | 519 | &nbsp;&nbsp; 63193 |
| News Corp., Class A | 2352 | &nbsp;&nbsp; 66421 |
| News Corp., Class B<sup>(c)</sup> | 1178 | &nbsp;&nbsp; 38544 |
|  |  | &nbsp;&nbsp; 468001 |
| **Consumer Discretionary-13.82%** | **Consumer Discretionary-13.82%** | **Consumer Discretionary-13.82%** |
| Duolingo, Inc.<sup>(b)</sup> | 131 | &nbsp;&nbsp; 68069 |
| eBay, Inc. | 2392 | &nbsp;&nbsp; 175023 |
| Expedia Group, Inc. | 475 | &nbsp;&nbsp; 79206 |
| JD.com, Inc., ADR (China) | 1394 | &nbsp;&nbsp; 45179 |
| Pool Corp.<sup>(c)</sup> | 226 | &nbsp;&nbsp; 67933 |
| Rivian Automotive, Inc., Class A<sup>(b)(c)</sup> | 2273 | &nbsp;&nbsp; 33027 |
| Tractor Supply Co.<sup>(c)</sup> | 2870 | &nbsp;&nbsp; 138908 |
| Trip.com Group Ltd., ADR (China)<sup>(c)</sup> | 1320 | &nbsp;&nbsp; 82698 |
| Ulta Beauty, Inc.<sup>(b)</sup> | 252 | &nbsp;&nbsp; 118808 |
|  |  | &nbsp;&nbsp; 808851 |
| **Consumer Staples-2.88%** | **Consumer Staples-2.88%** | **Consumer Staples-2.88%** |
| Dollar Tree, Inc.<sup>(b)</sup> | 945 | &nbsp;&nbsp; 85296 |
| Sprouts Farmers Market, Inc.<sup>(b)</sup> | 314 | &nbsp;&nbsp; 54278 |
| The Campbell's Company<sup>(c)</sup> | 845 | &nbsp;&nbsp; 28764 |
|  |  | &nbsp;&nbsp; 168338 |
| **Financials-1.87%** | **Financials-1.87%** | **Financials-1.87%** |
| Affirm Holdings, Inc.<sup>(b)</sup> | 980 | &nbsp;&nbsp; 50862 |
| Jack Henry & Associates, Inc. | 322 | &nbsp;&nbsp; 58337 |
|  |  | &nbsp;&nbsp; 109199 |
| **Health Care-18.99%** | **Health Care-18.99%** | **Health Care-18.99%** |
| Align Technology, Inc.<sup>(b)</sup> | 326 | &nbsp;&nbsp; 58986 |
| Alnylam Pharmaceuticals, Inc.<sup>(b)</sup> | 357 | &nbsp;&nbsp; 108728 |
| argenx SE, ADR (Netherlands)<sup>(b)</sup> | 98 | &nbsp;&nbsp; 56180 |
| BioMarin Pharmaceutical, Inc.<sup>(b)</sup> | 654 | &nbsp;&nbsp; 37978 |
| BioNTech SE, ADR (Germany)<sup>(b)(c)</sup> | 290 | &nbsp;&nbsp; 27785 |
| Bio-Techne Corp. | 460 | &nbsp;&nbsp; 22264 |
| Cooper Cos., Inc. (The)<sup>(b)</sup> | 1046 | &nbsp;&nbsp; 71421 |
| Hologic, Inc.<sup>(b)</sup> | 844 | &nbsp;&nbsp; 52472 |
| ICON PLC<sup>(b)</sup> | 408 | &nbsp;&nbsp; 53154 |
| Illumina, Inc.<sup>(b)(c)</sup> | 710 | &nbsp;&nbsp; 58390 |
| Incyte Corp.<sup>(b)</sup> | 658 | &nbsp;&nbsp; 42810 |
| Insmed, Inc.<sup>(b)(c)</sup> | 285 | &nbsp;&nbsp; 19873 |
| Insulet Corp.<sup>(b)(c)</sup> | 271 | &nbsp;&nbsp; 88083 |
| Medpace Holdings, Inc.<sup>(b)(c)</sup> | 144 | &nbsp;&nbsp; 42466 |
| Moderna, Inc.<sup>(b)(c)</sup> | 1666 | &nbsp;&nbsp; 44249 |
| Natera, Inc.<sup>(b)</sup> | 289 | &nbsp;&nbsp; 45584 |
| Neurocrine Biosciences, Inc.<sup>(b)(c)</sup> | 372 | &nbsp;&nbsp; 45763 |
| Royalty Pharma PLC, Class A | 1190 | &nbsp;&nbsp; 39127 |
| Sanofi S.A., ADR<sup>(c)</sup> | 1267 | &nbsp;&nbsp; 62552 |
| Sarepta Therapeutics, Inc.<sup>(b)</sup> | 202 | &nbsp;&nbsp; 7595 |
| Summit Therapeutics, Inc.<sup>(b)(c)</sup> | 2053 | &nbsp;&nbsp; 37395 |
| United Therapeutics Corp.<sup>(b)</sup> | 168 | &nbsp;&nbsp; 53567 |
| Vaxcyte, Inc.<sup>(b)</sup> | 124 | &nbsp;&nbsp; 4029 |
| Viatris, Inc. | 3479 | &nbsp;&nbsp; 30580 |
|  |  | &nbsp;&nbsp; 1111031 |
| **Industrials-10.94%** | **Industrials-10.94%** | **Industrials-10.94%** |
| AAON, Inc. | 313 | &nbsp;&nbsp; 30139 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| C.H. Robinson Worldwide, Inc. | 555 | &nbsp;&nbsp; $53263 |
| FTAI Aviation Ltd. | 197 | &nbsp;&nbsp; 23079 |
| Grab Holdings Ltd., Class A (Singapore)<sup>(b)</sup> | 13609 | &nbsp;&nbsp; 66276 |
| J.B. Hunt Transport Services, Inc. | 532 | &nbsp;&nbsp; 73868 |
| Lincoln Electric Holdings, Inc. | 221 | &nbsp;&nbsp; 42783 |
| Nordson Corp. | 187 | &nbsp;&nbsp; 39642 |
| Paylocity Holding Corp.<sup>(b)</sup> | 202 | &nbsp;&nbsp; 38562 |
| Ryanair Holdings PLC, ADR (Italy)<sup>(c)</sup> | 812 | &nbsp;&nbsp; 45147 |
| Saia, Inc.<sup>(b)(c)</sup> | 123 | &nbsp;&nbsp; 32522 |
| SS&C Technologies Holdings, Inc. | 927 | &nbsp;&nbsp; 74911 |
| Tetra Tech, Inc. | 1436 | &nbsp;&nbsp; 50174 |
| United Airlines Holdings, Inc.<sup>(b)</sup> | 879 | &nbsp;&nbsp; 69832 |
|  |  | &nbsp;&nbsp; 640198 |
| **Information Technology-41.83%** | **Information Technology-41.83%** | **Information Technology-41.83%** |
| Akamai Technologies, Inc.<sup>(b)</sup> | 831 | &nbsp;&nbsp; 63098 |
| Bentley Systems, Inc., Class B | 1347 | &nbsp;&nbsp; 64292 |
| &nbsp;&nbsp;&nbsp; Check Point Software Technologies Ltd. <br> (Israel)<sup>(b)</sup><br>| 507 | &nbsp;&nbsp; 116042 |
| CyberArk Software Ltd.<sup>(b)</sup> | 222 | &nbsp;&nbsp; 84977 |
| DocuSign, Inc.<sup>(b)</sup> | 964 | &nbsp;&nbsp; 85420 |
| Entegris, Inc.<sup>(c)</sup> | 633 | &nbsp;&nbsp; 43512 |
| F5, Inc.<sup>(b)</sup> | 283 | &nbsp;&nbsp; 80763 |
| First Solar, Inc.<sup>(b)</sup> | 503 | &nbsp;&nbsp; 79514 |
| Flex Ltd.<sup>(b)</sup> | 2572 | &nbsp;&nbsp; 108796 |
| Gen Digital, Inc. | 3242 | &nbsp;&nbsp; 92332 |
| Logitech International S.A., Class R (Switzerland) | 971 | &nbsp;&nbsp; 80360 |
| Manhattan Associates, Inc.<sup>(b)</sup> | 288 | &nbsp;&nbsp; 54369 |
| Monday.com Ltd.<sup>(b)</sup> | 225 | &nbsp;&nbsp; 66935 |
| Monolithic Power Systems, Inc. | 212 | &nbsp;&nbsp; 140323 |
| NetApp, Inc. | 1080 | &nbsp;&nbsp; 107093 |
| Nutanix, Inc., Class A<sup>(b)</sup> | 1161 | &nbsp;&nbsp; 89037 |
| Okta, Inc.<sup>(b)(c)</sup> | 918 | &nbsp;&nbsp; 94710 |
| PTC, Inc.<sup>(b)(c)</sup> | 536 | &nbsp;&nbsp; 90220 |
| Seagate Technology Holdings PLC | 1245 | &nbsp;&nbsp; 146835 |
| Skyworks Solutions, Inc. | 529 | &nbsp;&nbsp; 36517 |
| Super Micro Computer, Inc.<sup>(b)(c)</sup> | 2393 | &nbsp;&nbsp; 95768 |
| Teradyne, Inc. | 802 | &nbsp;&nbsp; 63037 |
| Trimble, Inc.<sup>(b)</sup> | 1548 | &nbsp;&nbsp; 110326 |
| VeriSign, Inc. | 376 | &nbsp;&nbsp; 102449 |
| Western Digital Corp.<sup>(b)</sup> | 2184 | &nbsp;&nbsp; 112585 |
| Wix.com Ltd. (Israel)<sup>(b)</sup> | 230 | &nbsp;&nbsp; 34259 |
| Zebra Technologies Corp., Class A<sup>(b)</sup> | 320 | &nbsp;&nbsp; 92726 |
| Zoom Communications, Inc., Class A<sup>(b)</sup> | 1372 | &nbsp;&nbsp; 111475 |
|  |  | &nbsp;&nbsp; 2447770 |
| **Materials-0.56%** | **Materials-0.56%** | **Materials-0.56%** |
| Steel Dynamics, Inc. | 267 | &nbsp;&nbsp; 32860 |
| **Real Estate-0.97%** | **Real Estate-0.97%** | **Real Estate-0.97%** |
| Zillow Group, Inc., Class A<sup>(b)(c)</sup> | 196 | &nbsp;&nbsp; 12969 |
| Zillow Group, Inc., Class C<sup>(b)</sup> | 656 | &nbsp;&nbsp; 44024 |
|  |  | &nbsp;&nbsp; 56993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $5,226,397) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $5,226,397) | &nbsp;&nbsp; 5843241 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco ESG NASDAQ Next Gen 100 ETF (QQJG)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-0.06%** | **Money Market Funds-0.06%** | **Money Market Funds-0.06%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.24%<sup>(d)(e)</sup> <br>(Cost $3,322)<br>| 3322 | &nbsp;&nbsp; $3322 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-99.92% <br>(Cost $5,229,719) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-99.92% <br>(Cost $5,229,719) | &nbsp;&nbsp; 5846563 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-22.35%** | **Money Market Funds-22.35%** | **Money Market Funds-22.35%** |
| Invesco Private Government Fund, 4.29%<sup>(d)(e)(f)</sup> | 359467 | &nbsp;&nbsp; 359467 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-(continued)** | **Money Market Funds-(continued)** | **Money Market Funds-(continued)** |
| Invesco Private Prime Fund, 4.45%<sup>(d)(e)(f)</sup> | 948268 | &nbsp;&nbsp; $948458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $1,307,925) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $1,307,925) | &nbsp;&nbsp; 1307925 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-122.27% <br>(Cost $6,537,644) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-122.27% <br>(Cost $6,537,644) | &nbsp;&nbsp; 7154488 |
| OTHER ASSETS LESS LIABILITIES-(22.27)% | OTHER ASSETS LESS LIABILITIES-(22.27)% | &nbsp;&nbsp; (1303063)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $5851425 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Investment Abbreviations: <br> ADR -American Depositary Receipt

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | 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 <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at May 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 <br> 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 <br> affiliates for the nine months ended May 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 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>**(Loss)**<br>| **Value** <br>**May 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & <br> Agency Portfolio, Institutional <br> Class<br>| &nbsp;&nbsp;&nbsp; $3323 | &nbsp;&nbsp;&nbsp; $46572 | &nbsp;&nbsp;&nbsp; $(46573)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $3322 | &nbsp;&nbsp;&nbsp; $63 |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 282581 | &nbsp;&nbsp;&nbsp; 4415294 | &nbsp;&nbsp;&nbsp; (4338408)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 359467 | &nbsp;&nbsp;&nbsp; 12,239<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 661935 | &nbsp;&nbsp;&nbsp; 9426495 | &nbsp;&nbsp;&nbsp; (9139796)<br>| &nbsp;&nbsp;&nbsp; (42)<br>| &nbsp;&nbsp;&nbsp; (134)<br>| &nbsp;&nbsp;&nbsp; 948458 | &nbsp;&nbsp;&nbsp; 32,589<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $947839 | &nbsp;&nbsp;&nbsp; $13888361 | &nbsp;&nbsp;&nbsp; $(13524777)<br>| &nbsp;&nbsp;&nbsp; $(42)<br>| &nbsp;&nbsp;&nbsp; $(134)<br>| &nbsp;&nbsp;&nbsp; $1311247 | &nbsp;&nbsp;&nbsp; $44891 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of May 31, 2025. <br> <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.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup>

**Invesco NASDAQ 100 ETF (QQQM)**

May 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.83%** | **Common Stocks & Other Equity Interests-99.83%** | **Common Stocks & Other Equity Interests-99.83%** |
| **Communication Services-15.42%** | **Communication Services-15.42%** | **Communication Services-15.42%** |
| Alphabet, Inc., Class A | 7112820 | &nbsp;&nbsp; $1221555707 |
| Alphabet, Inc., Class C | 6703106 | &nbsp;&nbsp; 1158631872 |
| &nbsp;&nbsp;&nbsp; Charter Communications, Inc., <br> Class A<sup>(b)(c)</sup><br>| 425644 | &nbsp;&nbsp; 168669948 |
| Comcast Corp., Class A | 11313692 | &nbsp;&nbsp; 391114332 |
| Electronic Arts, Inc. | 781523 | &nbsp;&nbsp; 112367377 |
| Meta Platforms, Inc., Class A | 2670367 | &nbsp;&nbsp; 1729035929 |
| Netflix, Inc.<sup>(b)</sup> | 1283350 | &nbsp;&nbsp; 1549298621 |
| Take-Two Interactive Software, Inc.<sup>(b)(c)</sup> | 529044 | &nbsp;&nbsp; 119712076 |
| T-Mobile US, Inc. | 3425205 | &nbsp;&nbsp; 829584651 |
| Trade Desk, Inc. (The), Class A<sup>(b)</sup> | 1356468 | &nbsp;&nbsp; 102033523 |
| Warner Bros. Discovery, Inc.<sup>(b)</sup> | 7360040 | &nbsp;&nbsp; 73379599 |
|  |  | &nbsp;&nbsp; 7455383635 |
| **Consumer Discretionary-13.88%** | **Consumer Discretionary-13.88%** | **Consumer Discretionary-13.88%** |
| Airbnb, Inc., Class A<sup>(b)</sup> | 1297727 | &nbsp;&nbsp; 167406783 |
| Amazon.com, Inc.<sup>(b)</sup> | 12923184 | &nbsp;&nbsp; 2649381952 |
| Booking Holdings, Inc. | 98371 | &nbsp;&nbsp; 542902663 |
| DoorDash, Inc., Class A<sup>(b)</sup> | 1183148 | &nbsp;&nbsp; 246863830 |
| lululemon athletica, inc.<sup>(b)</sup> | 348505 | &nbsp;&nbsp; 110361078 |
| Marriott International, Inc., Class A | 826729 | &nbsp;&nbsp; 218115912 |
| MercadoLibre, Inc. (Brazil)<sup>(b)</sup> | 152127 | &nbsp;&nbsp; 389945618 |
| O'Reilly Automotive, Inc.<sup>(b)</sup> | 171841 | &nbsp;&nbsp; 234992568 |
| PDD Holdings, Inc., ADR (China)<sup>(b)(c)</sup> | 2003275 | &nbsp;&nbsp; 193336070 |
| Ross Stores, Inc. | 989274 | &nbsp;&nbsp; 138587395 |
| Starbucks Corp.<sup>(c)</sup> | 3407085 | &nbsp;&nbsp; 286024786 |
| Tesla, Inc.<sup>(b)</sup> | 4432079 | &nbsp;&nbsp; 1535538090 |
|  |  | &nbsp;&nbsp; 6713456745 |
| **Consumer Staples-5.65%** | **Consumer Staples-5.65%** | **Consumer Staples-5.65%** |
| &nbsp;&nbsp;&nbsp; Coca-Cola Europacific Partners PLC <br> (United Kingdom)<sup>(c)</sup><br>| 1381973 | &nbsp;&nbsp; 126851302 |
| Costco Wholesale Corp.<sup>(c)</sup> | 1331729 | &nbsp;&nbsp; 1385237871 |
| Keurig Dr Pepper, Inc. | 4067846 | &nbsp;&nbsp; 136964375 |
| Kraft Heinz Co. (The) | 3582801 | &nbsp;&nbsp; 95768271 |
| Mondelez International, Inc., Class A | 3879938 | &nbsp;&nbsp; 261857015 |
| Monster Beverage Corp.<sup>(b)</sup> | 2917716 | &nbsp;&nbsp; 186587938 |
| PepsiCo, Inc. | 4114355 | &nbsp;&nbsp; 540831965 |
|  |  | &nbsp;&nbsp; 2734098737 |
| **Energy-0.47%** | **Energy-0.47%** | **Energy-0.47%** |
| Baker Hughes Co., Class A | 2968587 | &nbsp;&nbsp; 109986149 |
| Diamondback Energy, Inc.<sup>(c)</sup> | 867684 | &nbsp;&nbsp; 116746882 |
|  |  | &nbsp;&nbsp; 226733031 |
| **Financials-0.43%** | **Financials-0.43%** | **Financials-0.43%** |
| PayPal Holdings, Inc.<sup>(b)</sup> | 2965896 | &nbsp;&nbsp; 208443171 |
| **Health Care-5.11%** | **Health Care-5.11%** | **Health Care-5.11%** |
| Amgen, Inc.<sup>(c)</sup> | 1611439 | &nbsp;&nbsp; 464384491 |
| &nbsp;&nbsp;&nbsp; AstraZeneca PLC, ADR (United <br> Kingdom)<br>| 1745795 | &nbsp;&nbsp; 127146250 |
| Biogen, Inc.<sup>(b)</sup> | 438734 | &nbsp;&nbsp; 56943286 |
| DexCom, Inc.<sup>(b)</sup> | 1171672 | &nbsp;&nbsp; 100529458 |
| GE HealthCare Technologies, Inc. | 1371187 | &nbsp;&nbsp; 96723531 |
| Gilead Sciences, Inc. | 3735681 | &nbsp;&nbsp; 411223764 |
| IDEXX Laboratories, Inc.<sup>(b)</sup> | 243906 | &nbsp;&nbsp; 125211584 |
| Intuitive Surgical, Inc.<sup>(b)</sup> | 1069868 | &nbsp;&nbsp; 590930891 |
| Regeneron Pharmaceuticals, Inc. | 322394 | &nbsp;&nbsp; 158063330 |
| Vertex Pharmaceuticals, Inc.<sup>(b)</sup> | 770236 | &nbsp;&nbsp; 340482824 |
|  |  | &nbsp;&nbsp; 2471639409 |
| **Industrials-4.77%** | **Industrials-4.77%** | **Industrials-4.77%** |
| Automatic Data Processing, Inc. | 1220520 | &nbsp;&nbsp; 397315876 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| Axon Enterprise, Inc.<sup>(b)</sup> | 229682 | &nbsp;&nbsp; $172344186 |
| Cintas Corp. | 1210512 | &nbsp;&nbsp; 274180968 |
| Copart, Inc.<sup>(b)(c)</sup> | 2896511 | &nbsp;&nbsp; 149112386 |
| CSX Corp. | 5680496 | &nbsp;&nbsp; 179446869 |
| Fastenal Co.<sup>(c)</sup> | 3438622 | &nbsp;&nbsp; 142152633 |
| Honeywell International, Inc. | 1949541 | &nbsp;&nbsp; 441902458 |
| Old Dominion Freight Line, Inc.<sup>(c)</sup> | 637196 | &nbsp;&nbsp; 102059683 |
| PACCAR, Inc.<sup>(c)</sup> | 1573594 | &nbsp;&nbsp; 147681797 |
| Paychex, Inc.<sup>(c)</sup> | 1079623 | &nbsp;&nbsp; 170483268 |
| Verisk Analytics, Inc. | 420702 | &nbsp;&nbsp; 132159326 |
|  |  | &nbsp;&nbsp; 2308839450 |
| **Information Technology-51.08%** | **Information Technology-51.08%** | **Information Technology-51.08%** |
| Adobe, Inc.<sup>(b)</sup> | 1304689 | &nbsp;&nbsp; 541563357 |
| Advanced Micro Devices, Inc.<sup>(b)</sup> | 4861173 | &nbsp;&nbsp; 538277686 |
| Analog Devices, Inc. | 1487779 | &nbsp;&nbsp; 318354950 |
| ANSYS, Inc.<sup>(b)</sup> | 262916 | &nbsp;&nbsp; 86977871 |
| Apple, Inc. | 18318399 | &nbsp;&nbsp; 3679250439 |
| Applied Materials, Inc. | 2437173 | &nbsp;&nbsp; 382026868 |
| AppLovin Corp., Class A<sup>(b)</sup> | 927660 | &nbsp;&nbsp; 364570380 |
| ARM Holdings PLC, ADR<sup>(b)(c)</sup> | 392402 | &nbsp;&nbsp; 48869745 |
| &nbsp;&nbsp;&nbsp; ASML Holding N.V., New York Shares <br> (Netherlands)<br>| 270899 | &nbsp;&nbsp; 199590256 |
| Atlassian Corp., Class A<sup>(b)</sup> | 491762 | &nbsp;&nbsp; 102104544 |
| Autodesk, Inc.<sup>(b)</sup> | 644768 | &nbsp;&nbsp; 190928700 |
| Broadcom, Inc. | 9453475 | &nbsp;&nbsp; 2288402693 |
| Cadence Design Systems, Inc.<sup>(b)</sup> | 822065 | &nbsp;&nbsp; 235990200 |
| CDW Corp. | 397374 | &nbsp;&nbsp; 71670375 |
| Cisco Systems, Inc. | 11934590 | &nbsp;&nbsp; 752356554 |
| &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp., <br> Class A<br>| 1483088 | &nbsp;&nbsp; 120115297 |
| CrowdStrike Holdings, Inc., Class A<sup>(b)</sup> | 701415 | &nbsp;&nbsp; 330625989 |
| Datadog, Inc., Class A<sup>(b)</sup> | 951181 | &nbsp;&nbsp; 112125216 |
| Fortinet, Inc.<sup>(b)</sup> | 2306613 | &nbsp;&nbsp; 234767071 |
| GLOBALFOUNDRIES, Inc.<sup>(b)(c)</sup> | 1656883 | &nbsp;&nbsp; 59316411 |
| Intel Corp. | 12987647 | &nbsp;&nbsp; 253908499 |
| Intuit, Inc. | 838609 | &nbsp;&nbsp; 631866723 |
| KLA Corp. | 398668 | &nbsp;&nbsp; 301743836 |
| Lam Research Corp. | 3850410 | &nbsp;&nbsp; 311074624 |
| Marvell Technology, Inc. | 2594428 | &nbsp;&nbsp; 156158621 |
| Microchip Technology, Inc. | 1612392 | &nbsp;&nbsp; 93583232 |
| Micron Technology, Inc.<sup>(c)</sup> | 3342151 | &nbsp;&nbsp; 315699584 |
| Microsoft Corp. | 9065238 | &nbsp;&nbsp; 4173272966 |
| MicroStrategy, Inc., Class A<sup>(b)(c)</sup> | 713107 | &nbsp;&nbsp; 263179269 |
| NVIDIA Corp. | 29754125 | &nbsp;&nbsp; 4020674911 |
| NXP Semiconductors N.V. (Netherlands) | 760521 | &nbsp;&nbsp; 145358379 |
| ON Semiconductor Corp.<sup>(b)(c)</sup> | 1263544 | &nbsp;&nbsp; 53094119 |
| Palantir Technologies, Inc., Class A<sup>(b)</sup> | 6746803 | &nbsp;&nbsp; 889093699 |
| Palo Alto Networks, Inc.<sup>(b)(c)</sup> | 1986212 | &nbsp;&nbsp; 382186913 |
| QUALCOMM, Inc. | 3317780 | &nbsp;&nbsp; 481741656 |
| Roper Technologies, Inc. | 322043 | &nbsp;&nbsp; 183651462 |
| Shopify, Inc., Class A (Canada)<sup>(b)</sup> | 3646194 | &nbsp;&nbsp; 390944921 |
| Synopsys, Inc.<sup>(b)</sup> | 463738 | &nbsp;&nbsp; 215165157 |
| Texas Instruments, Inc. | 2730795 | &nbsp;&nbsp; 499325866 |
| Workday, Inc., Class A<sup>(b)</sup> | 641498 | &nbsp;&nbsp; 158905470 |
| Zscaler, Inc.<sup>(b)(c)</sup> | 459932 | &nbsp;&nbsp; 126803252 |
|  |  | &nbsp;&nbsp; 24705317761 |
| **Materials-1.37%** | **Materials-1.37%** | **Materials-1.37%** |
| Linde PLC | 1418744 | &nbsp;&nbsp; 663376319 |
| **Real Estate-0.19%** | **Real Estate-0.19%** | **Real Estate-0.19%** |
| CoStar Group, Inc.<sup>(b)(c)</sup> | 1229520 | &nbsp;&nbsp; 90443491 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco NASDAQ 100 ETF (QQQM)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Utilities-1.46%** | **Utilities-1.46%** | **Utilities-1.46%** |
| American Electric Power Co., Inc.<sup>(c)</sup> | 1598767 | &nbsp;&nbsp; $165456397 |
| Constellation Energy Corp. | 938474 | &nbsp;&nbsp; 287313815 |
| Exelon Corp. | 3013875 | &nbsp;&nbsp; 132068002 |
| Xcel Energy, Inc.<sup>(c)</sup> | 1722568 | &nbsp;&nbsp; 120752017 |
|  |  | &nbsp;&nbsp; 705590231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $41,789,686,050) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $41,789,686,050) | &nbsp;&nbsp; 48283321980 |
| **Money Market Funds-0.09%** | **Money Market Funds-0.09%** | **Money Market Funds-0.09%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.24%<sup>(d)(e)</sup> <br>(Cost $44,521,630)<br>| 44521630 | &nbsp;&nbsp; 44521630 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.92% <br>(Cost $41,834,207,680) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.92% <br>(Cost $41,834,207,680) | &nbsp;&nbsp; 48327843610 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-0.73%** | **Money Market Funds-0.73%** | **Money Market Funds-0.73%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.29%<sup>(d)(e)(f)</sup><br>| 96806829 | &nbsp;&nbsp; $96806829 |
| &nbsp;&nbsp;&nbsp; Invesco Private Prime Fund, <br> 4.45%<sup>(d)(e)(f)</sup><br>| 253074842 | &nbsp;&nbsp; 253125457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $349,932,286) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $349,932,286) | &nbsp;&nbsp; 349932286 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-100.65% <br>(Cost $42,184,139,966) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-100.65% <br>(Cost $42,184,139,966) | &nbsp;&nbsp; 48677775896 |
| OTHER ASSETS LESS LIABILITIES-(0.65)% | OTHER ASSETS LESS LIABILITIES-(0.65)% | &nbsp;&nbsp; (312107869)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $48365668027 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Investment Abbreviations: <br> ADR -American Depositary Receipt

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | 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 <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at May 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 <br> 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 <br> affiliates for the nine months ended May 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 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>**(Loss)**<br>| **Value** <br>**May 31, 2025**<br>| **Dividend Income** |
| **Investments in** <br> **Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government <br> & Agency Portfolio, <br> Institutional Class<br>| &nbsp;&nbsp;&nbsp; $12149472 | &nbsp;&nbsp;&nbsp; $320067046 | &nbsp;&nbsp;&nbsp; $(287694888)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $44521630 | &nbsp;&nbsp;&nbsp; $703746 |
| **Investments** <br> **Purchased with Cash** <br> **Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 73775478 | &nbsp;&nbsp;&nbsp; 1922846402 | &nbsp;&nbsp;&nbsp; (1899815051)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 96806829 | &nbsp;&nbsp;&nbsp; 3,483,703<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 199210478 | &nbsp;&nbsp;&nbsp; 4047490195 | &nbsp;&nbsp;&nbsp; (3993511084)<br>| &nbsp;&nbsp;&nbsp; (13357)<br>| &nbsp;&nbsp;&nbsp; (50775)<br>| &nbsp;&nbsp;&nbsp; 253125457 | &nbsp;&nbsp;&nbsp; 9,410,014<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $285135428 | &nbsp;&nbsp;&nbsp; $6290403643 | &nbsp;&nbsp;&nbsp; $(6181021023)<br>| &nbsp;&nbsp;&nbsp; $(13357)<br>| &nbsp;&nbsp;&nbsp; $(50775)<br>| &nbsp;&nbsp;&nbsp; $394453916 | &nbsp;&nbsp;&nbsp; $13597463 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of May 31, 2025. <br> <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.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

**Invesco NASDAQ 100 ETF (QQQM)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  |
| **Long Futures Contracts** | **Number of**<br> **Contracts**<br>| **Expiration**<br> **Month**<br>| **Notional**<br> **Value**<br>| **Value** | **Unrealized**<br> **Appreciation**<br>|
| **Equity Risk** |  |  |  |  |  |
| &nbsp;&nbsp; CME E-Mini NASDAQ 100 Index Future | &nbsp;&nbsp;&nbsp; 160 | June-2025 | &nbsp;&nbsp;&nbsp; $68405600 | &nbsp;&nbsp;&nbsp; $7977690 | &nbsp;&nbsp;&nbsp; $7977690 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Futures contracts collateralized by $9,038,725 cash held with Morgan Stanley & Co. LLC, the futures commission merchant.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup>

**Invesco NASDAQ Future Gen 200 ETF (QQQS)**

May 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.93%** | **Common Stocks & Other Equity Interests-99.93%** | **Common Stocks & Other Equity Interests-99.93%** |
| **Communication Services-3.42%** | **Communication Services-3.42%** | **Communication Services-3.42%** |
| EchoStar Corp., Class A<sup>(b)</sup> | 1393 | &nbsp;&nbsp; $24698 |
| Gogo, Inc.<sup>(b)</sup> | 5959 | &nbsp;&nbsp; 63225 |
| iHeartMedia, Inc., Class A<sup>(b)</sup> | 24574 | &nbsp;&nbsp; 32192 |
| iQIYI, Inc., ADR (China)<sup>(b)</sup> | 20911 | &nbsp;&nbsp; 33458 |
| JOYY, Inc., ADR (China) | 930 | &nbsp;&nbsp; 44528 |
| Roku, Inc., Class A<sup>(b)</sup> | 521 | &nbsp;&nbsp; 37752 |
| TrueCar, Inc.<sup>(b)</sup> | 18667 | &nbsp;&nbsp; 27067 |
|  |  | &nbsp;&nbsp; 262920 |
| **Consumer Discretionary-7.04%** | **Consumer Discretionary-7.04%** | **Consumer Discretionary-7.04%** |
| BRP, Inc. | 1097 | &nbsp;&nbsp; 48268 |
| Garrett Motion, Inc. (Switzerland) | 4515 | &nbsp;&nbsp; 47859 |
| Gentex Corp. | 1789 | &nbsp;&nbsp; 38589 |
| Gentherm, Inc.<sup>(b)</sup> | 1315 | &nbsp;&nbsp; 35985 |
| Goodyear Tire & Rubber Co. (The)<sup>(b)</sup> | 4603 | &nbsp;&nbsp; 52520 |
| GoPro, Inc., Class A<sup>(b)</sup> | 58274 | &nbsp;&nbsp; 38636 |
| Helen of Troy Ltd.<sup>(b)</sup> | 791 | &nbsp;&nbsp; 21270 |
| iRobot Corp.<sup>(b)(c)</sup> | 5983 | &nbsp;&nbsp; 18368 |
| Johnson Outdoors, Inc., Class A | 1627 | &nbsp;&nbsp; 44238 |
| MasterCraft Boat Holdings, Inc.<sup>(b)</sup> | 2474 | &nbsp;&nbsp; 42083 |
| Newell Brands, Inc. | 6775 | &nbsp;&nbsp; 35907 |
| QVC Group, Inc.<sup>(b)</sup> | 2606 | &nbsp;&nbsp; 10684 |
| Sleep Number Corp.<sup>(b)</sup> | 3092 | &nbsp;&nbsp; 33270 |
| Sonos, Inc.<sup>(b)</sup> | 3290 | &nbsp;&nbsp; 33821 |
| Stitch Fix, Inc., Class A<sup>(b)</sup> | 9195 | &nbsp;&nbsp; 40642 |
|  |  | &nbsp;&nbsp; 542140 |
| **Energy-0.43%** | **Energy-0.43%** | **Energy-0.43%** |
| DMC Global, Inc.<sup>(b)</sup> | 5129 | &nbsp;&nbsp; 33133 |
| **Health Care-44.90%** | **Health Care-44.90%** | **Health Care-44.90%** |
| 10X Genomics, Inc., Class A<sup>(b)</sup> | 4069 | &nbsp;&nbsp; 38778 |
| Accuray, Inc.<sup>(b)</sup> | 21640 | &nbsp;&nbsp; 33109 |
| Aclaris Therapeutics, Inc.<sup>(b)</sup> | 21857 | &nbsp;&nbsp; 31911 |
| Adaptimmune Therapeutics PLC, ADR<sup>(b)</sup> | 80548 | &nbsp;&nbsp; 23560 |
| Adaptive Biotechnologies Corp.<sup>(b)</sup> | 5266 | &nbsp;&nbsp; 50132 |
| Agios Pharmaceuticals, Inc.<sup>(b)</sup> | 1224 | &nbsp;&nbsp; 39278 |
| Akebia Therapeutics, Inc.<sup>(b)</sup> | 23628 | &nbsp;&nbsp; 71593 |
| Aldeyra Therapeutics, Inc.<sup>(b)</sup> | 8512 | &nbsp;&nbsp; 18301 |
| Alector, Inc.<sup>(b)</sup> | 26522 | &nbsp;&nbsp; 35274 |
| Alphatec Holdings, Inc.<sup>(b)</sup> | 3471 | &nbsp;&nbsp; 43145 |
| Altimmune, Inc.<sup>(b)(c)</sup> | 6540 | &nbsp;&nbsp; 35512 |
| Amicus Therapeutics, Inc.<sup>(b)</sup> | 4583 | &nbsp;&nbsp; 27819 |
| AnaptysBio, Inc.<sup>(b)(c)</sup> | 2600 | &nbsp;&nbsp; 57798 |
| AngioDynamics, Inc.<sup>(b)</sup> | 4682 | &nbsp;&nbsp; 47756 |
| Anika Therapeutics, Inc.<sup>(b)</sup> | 2493 | &nbsp;&nbsp; 27797 |
| Aquestive Therapeutics, Inc.<sup>(b)</sup> | 15534 | &nbsp;&nbsp; 42097 |
| Arbutus Biopharma Corp.<sup>(b)</sup> | 12608 | &nbsp;&nbsp; 42363 |
| Ardelyx, Inc.<sup>(b)</sup> | 8115 | &nbsp;&nbsp; 29782 |
| Arrowhead Pharmaceuticals, Inc.<sup>(b)</sup> | 2300 | &nbsp;&nbsp; 36961 |
| AtriCure, Inc.<sup>(b)</sup> | 1123 | &nbsp;&nbsp; 38822 |
| &nbsp;&nbsp;&nbsp; Autolus Therapeutics PLC, ADR (United <br> Kingdom)<sup>(b)</sup><br>| 25142 | &nbsp;&nbsp; 43998 |
| Axogen, Inc.<sup>(b)</sup> | 2174 | &nbsp;&nbsp; 23675 |
| Azenta, Inc.<sup>(b)</sup> | 997 | &nbsp;&nbsp; 26640 |
| &nbsp;&nbsp;&nbsp; Bicycle Therapeutics PLC, ADR (United <br> Kingdom)<sup>(b)</sup><br>| 3965 | &nbsp;&nbsp; 32592 |
| BioCryst Pharmaceuticals, Inc.<sup>(b)</sup> | 5052 | &nbsp;&nbsp; 54309 |
| Bruker Corp. | 929 | &nbsp;&nbsp; 34094 |
| &nbsp;&nbsp;&nbsp; Cartesian Therapeutics, Inc., Rts., expiring <br> 12/31/2050<sup>(b)(d)</sup><br>| 27325 | &nbsp;&nbsp; 3728 |
| Cerus Corp.<sup>(b)</sup> | 26362 | &nbsp;&nbsp; 33480 |
| ChromaDex Corp.<sup>(b)</sup> | 7747 | &nbsp;&nbsp; 83823 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Health Care-(continued)** | **Health Care-(continued)** | **Health Care-(continued)** |
| ClearPoint Neuro, Inc.<sup>(b)</sup> | 2996 | &nbsp;&nbsp; $35383 |
| Codexis, Inc.<sup>(b)</sup> | 14308 | &nbsp;&nbsp; 32908 |
| Coherus BioSciences, Inc.<sup>(b)(c)</sup> | 39481 | &nbsp;&nbsp; 30756 |
| CryoPort, Inc.<sup>(b)</sup> | 7809 | &nbsp;&nbsp; 46932 |
| DENTSPLY SIRONA, Inc. | 2628 | &nbsp;&nbsp; 41995 |
| Editas Medicine, Inc.<sup>(b)</sup> | 22654 | &nbsp;&nbsp; 38965 |
| Enanta Pharmaceuticals, Inc.<sup>(b)</sup> | 5591 | &nbsp;&nbsp; 33155 |
| Fate Therapeutics, Inc.<sup>(b)</sup> | 38836 | &nbsp;&nbsp; 46992 |
| Guardant Health, Inc.<sup>(b)</sup> | 1029 | &nbsp;&nbsp; 41798 |
| Heron Therapeutics, Inc.<sup>(b)</sup> | 17609 | &nbsp;&nbsp; 33105 |
| ICU Medical, Inc.<sup>(b)</sup> | 297 | &nbsp;&nbsp; 40053 |
| IGM Biosciences, Inc.<sup>(b)(c)</sup> | 31982 | &nbsp;&nbsp; 40617 |
| Immunic, Inc.<sup>(b)(c)</sup> | 36551 | &nbsp;&nbsp; 24120 |
| Innoviva, Inc.<sup>(b)</sup> | 2427 | &nbsp;&nbsp; 47496 |
| Inogen, Inc.<sup>(b)</sup> | 5221 | &nbsp;&nbsp; 33545 |
| Integra LifeSciences Holdings Corp.<sup>(b)</sup> | 1874 | &nbsp;&nbsp; 23725 |
| Ionis Pharmaceuticals, Inc.<sup>(b)</sup> | 1311 | &nbsp;&nbsp; 43932 |
| Ironwood Pharmaceuticals, Inc.<sup>(b)</sup> | 27016 | &nbsp;&nbsp; 16185 |
| KalVista Pharmaceuticals, Inc.<sup>(b)</sup> | 3817 | &nbsp;&nbsp; 45041 |
| Kodiak Sciences, Inc.<sup>(b)</sup> | 10583 | &nbsp;&nbsp; 35982 |
| Lexicon Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 62181 | &nbsp;&nbsp; 38963 |
| Ligand Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 356 | &nbsp;&nbsp; 36380 |
| LivaNova PLC<sup>(b)</sup> | 1051 | &nbsp;&nbsp; 45456 |
| MacroGenics, Inc.<sup>(b)</sup> | 17682 | &nbsp;&nbsp; 24048 |
| MannKind Corp.<sup>(b)</sup> | 8146 | &nbsp;&nbsp; 33806 |
| Masimo Corp.<sup>(b)</sup> | 230 | &nbsp;&nbsp; 37375 |
| MaxCyte, Inc.<sup>(b)</sup> | 13023 | &nbsp;&nbsp; 30995 |
| MeiraGTx Holdings PLC<sup>(b)</sup> | 6101 | &nbsp;&nbsp; 31237 |
| Merit Medical Systems, Inc.<sup>(b)</sup> | 426 | &nbsp;&nbsp; 40483 |
| Mersana Therapeutics, Inc.<sup>(b)</sup> | 83103 | &nbsp;&nbsp; 28563 |
| MiMedx Group, Inc.<sup>(b)</sup> | 5198 | &nbsp;&nbsp; 33423 |
| Nektar Therapeutics<sup>(b)</sup> | 51781 | &nbsp;&nbsp; 37515 |
| Ocugen, Inc.<sup>(b)(c)</sup> | 66743 | &nbsp;&nbsp; 55804 |
| Omeros Corp.<sup>(b)(c)</sup> | 5172 | &nbsp;&nbsp; 15981 |
| &nbsp;&nbsp;&nbsp; OmniAb Operations, Inc., Rts., expiring <br> 11/02/2027<sup>(b)(d)</sup><br>| 83 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; OmniAb Operations, Inc., Rts., expiring <br> 11/02/2027<sup>(b)(d)</sup><br>| 83 | &nbsp;&nbsp; 0 |
| Omnicell, Inc.<sup>(b)</sup> | 1143 | &nbsp;&nbsp; 34713 |
| OPKO Health, Inc.<sup>(b)</sup> | 24997 | &nbsp;&nbsp; 33996 |
| OraSure Technologies, Inc.<sup>(b)</sup> | 12495 | &nbsp;&nbsp; 35986 |
| Orthofix Medical, Inc.<sup>(b)</sup> | 2502 | &nbsp;&nbsp; 28148 |
| Pacific Biosciences of California, Inc.<sup>(b)(c)</sup> | 29997 | &nbsp;&nbsp; 28908 |
| Pacira BioSciences, Inc.<sup>(b)</sup> | 1809 | &nbsp;&nbsp; 46745 |
| Personalis, Inc.<sup>(b)</sup> | 10506 | &nbsp;&nbsp; 48643 |
| Pro-Dex, Inc.<sup>(b)(c)</sup> | 1253 | &nbsp;&nbsp; 50176 |
| ProQR Therapeutics N.V. (Netherlands)<sup>(b)</sup> | 18667 | &nbsp;&nbsp; 30987 |
| Prothena Corp. PLC (Ireland)<sup>(b)</sup> | 2751 | &nbsp;&nbsp; 12627 |
| PTC Therapeutics, Inc.<sup>(b)</sup> | 788 | &nbsp;&nbsp; 38234 |
| Quanterix Corp.<sup>(b)</sup> | 5731 | &nbsp;&nbsp; 29801 |
| Sage Therapeutics, Inc.<sup>(b)</sup> | 5958 | &nbsp;&nbsp; 38489 |
| Sangamo Therapeutics, Inc.<sup>(b)(c)</sup> | 42643 | &nbsp;&nbsp; 19829 |
| Scilex Holding Co., Class C (Singapore)<sup>(b)(c)</sup> | 72 | &nbsp;&nbsp; 369 |
| scPharmaceuticals, Inc.<sup>(b)(c)</sup> | 13338 | &nbsp;&nbsp; 48550 |
| Seres Therapeutics, Inc.<sup>(b)(c)</sup> | 2865 | &nbsp;&nbsp; 20196 |
| SI-BONE, Inc.<sup>(b)</sup> | 2415 | &nbsp;&nbsp; 45643 |
| SIGA Technologies, Inc. | 8793 | &nbsp;&nbsp; 52582 |
| Standard BioTools, Inc.<sup>(b)</sup> | 40841 | &nbsp;&nbsp; 41249 |
| Supernus Pharmaceuticals, Inc.<sup>(b)</sup> | 1356 | &nbsp;&nbsp; 42985 |
| Surmodics, Inc.<sup>(b)</sup> | 1323 | &nbsp;&nbsp; 38393 |
| Sutro Biopharma, Inc.<sup>(b)</sup> | 27356 | &nbsp;&nbsp; 24557 |
| Tactile Systems Technology, Inc.<sup>(b)</sup> | 3044 | &nbsp;&nbsp; 30075 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco NASDAQ Future Gen 200 ETF (QQQS)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Health Care-(continued)** | **Health Care-(continued)** | **Health Care-(continued)** |
| Theravance Biopharma, Inc.<sup>(b)</sup> | 4652 | &nbsp;&nbsp; $42612 |
| uniQure N.V. (Netherlands)<sup>(b)</sup> | 3307 | &nbsp;&nbsp; 47852 |
| Vanda Pharmaceuticals, Inc.<sup>(b)</sup> | 9149 | &nbsp;&nbsp; 39707 |
| Varex Imaging Corp.<sup>(b)</sup> | 3383 | &nbsp;&nbsp; 25948 |
| Vaxart, Inc.<sup>(b)</sup> | 85403 | &nbsp;&nbsp; 36988 |
| Verrica Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 67010 | &nbsp;&nbsp; 33143 |
| Vir Biotechnology, Inc.<sup>(b)</sup> | 5184 | &nbsp;&nbsp; 25609 |
| Voyager Therapeutics, Inc.<sup>(b)</sup> | 10661 | &nbsp;&nbsp; 29211 |
| Xencor, Inc.<sup>(b)</sup> | 2831 | &nbsp;&nbsp; 22648 |
|  |  | &nbsp;&nbsp; 3456440 |
| **Industrials-9.28%** | **Industrials-9.28%** | **Industrials-9.28%** |
| AeroVironment, Inc.<sup>(b)</sup> | 291 | &nbsp;&nbsp; 51807 |
| Allient, Inc. | 1749 | &nbsp;&nbsp; 53169 |
| American Superconductor Corp.<sup>(b)</sup> | 1915 | &nbsp;&nbsp; 54118 |
| Ballard Power Systems, Inc. (Canada)<sup>(b)(c)</sup> | 35362 | &nbsp;&nbsp; 45617 |
| Conduent, Inc.<sup>(b)</sup> | 12287 | &nbsp;&nbsp; 27523 |
| Energy Recovery, Inc.<sup>(b)</sup> | 2908 | &nbsp;&nbsp; 36670 |
| Interface, Inc. | 2150 | &nbsp;&nbsp; 43193 |
| LSI Industries, Inc. | 2369 | &nbsp;&nbsp; 38544 |
| Lyft, Inc., Class A<sup>(b)</sup> | 3261 | &nbsp;&nbsp; 49698 |
| Matthews International Corp., Class A | 1746 | &nbsp;&nbsp; 37452 |
| Microvast Holdings, Inc.<sup>(b)</sup> | 26802 | &nbsp;&nbsp; 96219 |
| MillerKnoll, Inc. | 2023 | &nbsp;&nbsp; 34128 |
| Omega Flex, Inc. | 1221 | &nbsp;&nbsp; 39951 |
| Stratasys Ltd.<sup>(b)</sup> | 4115 | &nbsp;&nbsp; 42508 |
| TTEC Holdings, Inc.<sup>(b)</sup> | 12924 | &nbsp;&nbsp; 63457 |
|  |  | &nbsp;&nbsp; 714054 |
| **Information Technology-33.86%** | **Information Technology-33.86%** | **Information Technology-33.86%** |
| 8x8, Inc.<sup>(b)</sup> | 17399 | &nbsp;&nbsp; 28534 |
| Advanced Energy Industries, Inc. | 378 | &nbsp;&nbsp; 43387 |
| Aehr Test Systems<sup>(b)(c)</sup> | 4512 | &nbsp;&nbsp; 43045 |
| Allegro MicroSystems, Inc. (Japan)<sup>(b)</sup> | 1951 | &nbsp;&nbsp; 49458 |
| Alpha & Omega Semiconductor Ltd.<sup>(b)</sup> | 1437 | &nbsp;&nbsp; 30493 |
| Amkor Technology, Inc. | 2061 | &nbsp;&nbsp; 37139 |
| Applied Optoelectronics, Inc.<sup>(b)</sup> | 1990 | &nbsp;&nbsp; 30686 |
| Atomera, Inc.<sup>(b)(c)</sup> | 7447 | &nbsp;&nbsp; 45799 |
| AudioEye, Inc.<sup>(b)</sup> | 3343 | &nbsp;&nbsp; 40852 |
| Aviat Networks, Inc.<sup>(b)</sup> | 2078 | &nbsp;&nbsp; 44573 |
| Axcelis Technologies, Inc.<sup>(b)</sup> | 794 | &nbsp;&nbsp; 44734 |
| Bel Fuse, Inc., Class B | 518 | &nbsp;&nbsp; 38228 |
| Canadian Solar, Inc. (Canada)<sup>(b)(c)</sup> | 4328 | &nbsp;&nbsp; 45574 |
| Cirrus Logic, Inc.<sup>(b)</sup> | 417 | &nbsp;&nbsp; 41016 |
| Cognex Corp. | 1326 | &nbsp;&nbsp; 39740 |
| Cohu, Inc.<sup>(b)</sup> | 2212 | &nbsp;&nbsp; 37759 |
| CommScope Holding Co., Inc.<sup>(b)</sup> | 6850 | &nbsp;&nbsp; 41374 |
| Commvault Systems, Inc.<sup>(b)</sup> | 255 | &nbsp;&nbsp; 46703 |
| Digimarc Corp.<sup>(b)</sup> | 2660 | &nbsp;&nbsp; 34793 |
| Diodes, Inc.<sup>(b)</sup> | 881 | &nbsp;&nbsp; 39117 |
| Dropbox, Inc., Class A<sup>(b)</sup> | 1674 | &nbsp;&nbsp; 48312 |
| Extreme Networks, Inc.<sup>(b)</sup> | 2815 | &nbsp;&nbsp; 44111 |
| FARO Technologies, Inc.<sup>(b)</sup> | 1368 | &nbsp;&nbsp; 57962 |
| Himax Technologies, Inc., ADR (Taiwan) | 4315 | &nbsp;&nbsp; 35167 |
| Immersion Corp. | 5410 | &nbsp;&nbsp; 40683 |
| InterDigital, Inc. | 203 | &nbsp;&nbsp; 44104 |
| IPG Photonics Corp.<sup>(b)</sup> | 747 | &nbsp;&nbsp; 49496 |
| Itron, Inc.<sup>(b)</sup> | 402 | &nbsp;&nbsp; 46471 |
| Kulicke & Soffa Industries, Inc. (Singapore) | 1137 | &nbsp;&nbsp; 36555 |
| Lantronix, Inc.<sup>(b)</sup> | 16991 | &nbsp;&nbsp; 37210 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Information Technology-(continued)** | **Information Technology-(continued)** | **Information Technology-(continued)** |
| Lattice Semiconductor Corp.<sup>(b)</sup> | 698 | &nbsp;&nbsp; $31368 |
| Littelfuse, Inc. | 188 | &nbsp;&nbsp; 38551 |
| Lumentum Holdings, Inc.<sup>(b)</sup> | 618 | &nbsp;&nbsp; 44669 |
| Materialise N.V., ADR (Belgium)<sup>(b)</sup> | 8269 | &nbsp;&nbsp; 44570 |
| MaxLinear, Inc.<sup>(b)</sup> | 2977 | &nbsp;&nbsp; 33908 |
| MicroVision, Inc.<sup>(b)(c)</sup> | 29997 | &nbsp;&nbsp; 32997 |
| Mitek Systems, Inc.<sup>(b)</sup> | 4642 | &nbsp;&nbsp; 43588 |
| MKS Instruments, Inc. | 474 | &nbsp;&nbsp; 38958 |
| Neonode, Inc.<sup>(b)(c)</sup> | 5023 | &nbsp;&nbsp; 51335 |
| NETGEAR, Inc.<sup>(b)</sup> | 1654 | &nbsp;&nbsp; 48512 |
| nLight, Inc.<sup>(b)</sup> | 4766 | &nbsp;&nbsp; 72110 |
| Open Text Corp. (Canada) | 1685 | &nbsp;&nbsp; 47702 |
| OSI Systems, Inc.<sup>(b)</sup> | 211 | &nbsp;&nbsp; 46232 |
| Penguin Solutions, Inc.<sup>(b)</sup> | 2182 | &nbsp;&nbsp; 38752 |
| Power Integrations, Inc. | 715 | &nbsp;&nbsp; 35557 |
| Qorvo, Inc.<sup>(b)</sup> | 599 | &nbsp;&nbsp; 45536 |
| Radware Ltd. (Israel)<sup>(b)</sup> | 2016 | &nbsp;&nbsp; 47013 |
| Rambus, Inc.<sup>(b)</sup> | 778 | &nbsp;&nbsp; 41600 |
| Ribbon Communications, Inc.<sup>(b)</sup> | 9215 | &nbsp;&nbsp; 31147 |
| Semtech Corp.<sup>(b)</sup> | 1146 | &nbsp;&nbsp; 42780 |
| Silicon Laboratories, Inc.<sup>(b)</sup> | 310 | &nbsp;&nbsp; 37364 |
| Silicon Motion Technology Corp., ADR (Taiwan) | 775 | &nbsp;&nbsp; 47430 |
| SolarEdge Technologies, Inc.<sup>(b)(c)</sup> | 2637 | &nbsp;&nbsp; 47097 |
| SoundHound AI, Inc., Class A<sup>(b)(c)</sup> | 4020 | &nbsp;&nbsp; 40642 |
| Synaptics, Inc.<sup>(b)</sup> | 658 | &nbsp;&nbsp; 38664 |
| Turtle Beach Corp.<sup>(b)</sup> | 2537 | &nbsp;&nbsp; 29125 |
| Universal Display Corp. | 283 | &nbsp;&nbsp; 40568 |
| Veeco Instruments, Inc.<sup>(b)</sup> | 1956 | &nbsp;&nbsp; 37770 |
| Verint Systems, Inc.<sup>(b)</sup> | 1927 | &nbsp;&nbsp; 33800 |
| Viasat, Inc.<sup>(b)</sup> | 5003 | &nbsp;&nbsp; 43676 |
| Viavi Solutions, Inc.<sup>(b)</sup> | 3891 | &nbsp;&nbsp; 35447 |
| Vuzix Corp.<sup>(b)(c)</sup> | 14694 | &nbsp;&nbsp; 42907 |
| Xerox Holdings Corp. | 6560 | &nbsp;&nbsp; 32078 |
|  |  | &nbsp;&nbsp; 2606528 |
| **Materials-1.00%** | **Materials-1.00%** | **Materials-1.00%** |
| Arq, Inc.<sup>(b)</sup> | 8332 | &nbsp;&nbsp; 41160 |
| Innospec, Inc. | 420 | &nbsp;&nbsp; 35734 |
|  |  | &nbsp;&nbsp; 76894 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-99.93% <br>(Cost $9,149,984) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-99.93% <br>(Cost $9,149,984) | &nbsp;&nbsp; 7692109 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-9.82%** | **Money Market Funds-9.82%** | **Money Market Funds-9.82%** |
| Invesco Private Government Fund, 4.29%<sup>(e)(f)(g)</sup> | 209627 | &nbsp;&nbsp; 209627 |
| Invesco Private Prime Fund, 4.45%<sup>(e)(f)(g)</sup> | 545920 | &nbsp;&nbsp; 546029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $755,656) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $755,656) | &nbsp;&nbsp; 755656 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-109.75% <br>(Cost $9,905,640) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-109.75% <br>(Cost $9,905,640) | &nbsp;&nbsp; 8447765 |
| OTHER ASSETS LESS LIABILITIES-(9.75)% | OTHER ASSETS LESS LIABILITIES-(9.75)% | &nbsp;&nbsp; (750434)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $7697331 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco NASDAQ Future Gen 200 ETF (QQQS)—(continued)**

May 31, 2025

*(Unaudited)*

Investment Abbreviations: <br> ADR -American Depositary Receipt <br> Rts. -Rights

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | 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 <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at May 31, 2025. |
| <sup>(d)</sup> | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| <sup>(e)</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 <br> 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 <br> affiliates for the nine months ended May 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 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>**(Loss)**<br>| **Value** <br>**May 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $220951 | &nbsp;&nbsp;&nbsp; $(220951)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $105 |
| **Investments Purchased with** <br> **Cash Collateral from Securities** <br> **on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 342395 | &nbsp;&nbsp;&nbsp; 2871986 | &nbsp;&nbsp;&nbsp; (3004754)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 209627 | &nbsp;&nbsp;&nbsp; 10,034<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 863306 | &nbsp;&nbsp;&nbsp; 4939318 | &nbsp;&nbsp;&nbsp; (5256448)<br>| &nbsp;&nbsp;&nbsp; (46)<br>| &nbsp;&nbsp;&nbsp; (101)<br>| &nbsp;&nbsp;&nbsp; 546029 | &nbsp;&nbsp;&nbsp; 26,676<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $1205701 | &nbsp;&nbsp;&nbsp; $8032255 | &nbsp;&nbsp;&nbsp; $(8482153)<br>| &nbsp;&nbsp;&nbsp; $(46)<br>| &nbsp;&nbsp;&nbsp; $(101)<br>| &nbsp;&nbsp;&nbsp; $755656 | &nbsp;&nbsp;&nbsp; $36815 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(f)</sup> The rate shown is the 7-day SEC standardized yield as of May 31, 2025. <br> <sup>(g)</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.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup>

**Invesco NASDAQ Next Gen 100 ETF (QQQJ)**

May 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.87%**<sup>(a)</sup>  | **Common Stocks & Other Equity Interests-99.87%**<sup>(a)</sup>  | **Common Stocks & Other Equity Interests-99.87%**<sup>(a)</sup>  |
| **Communication Services-6.83%** | **Communication Services-6.83%** | **Communication Services-6.83%** |
| Baidu, Inc., ADR (China)<sup>(b)(c)</sup> | 53618 | &nbsp;&nbsp; $4391314 |
| Fox Corp., Class A | 82190 | &nbsp;&nbsp; 4515518 |
| Fox Corp., Class B | 89014 | &nbsp;&nbsp; 4475624 |
| Liberty Broadband Corp., Class A<sup>(b)</sup> | 6844 | &nbsp;&nbsp; 635808 |
| Liberty Broadband Corp., Class C<sup>(b)(c)</sup> | 46411 | &nbsp;&nbsp; 4353352 |
| &nbsp;&nbsp;&nbsp; Liberty Media Corp.-Liberty Formula <br> One<sup>(b)</sup><br>| 84204 | &nbsp;&nbsp; 8128212 |
| &nbsp;&nbsp;&nbsp; Liberty Media Corp.-Liberty Formula <br> One<sup>(b)(c)</sup><br>| 9186 | &nbsp;&nbsp; 809470 |
| Liberty Media Corp.-Liberty Live<sup>(b)</sup> | 9652 | &nbsp;&nbsp; 693593 |
| &nbsp;&nbsp;&nbsp; Liberty Media Corp.-Liberty Live, <br> Series C<sup>(b)</sup><br>| 24060 | &nbsp;&nbsp; 1755177 |
| NetEase, Inc., ADR (China) | 39521 | &nbsp;&nbsp; 4812077 |
| News Corp., Class A | 142730 | &nbsp;&nbsp; 4030695 |
| News Corp., Class B<sup>(c)</sup> | 71407 | &nbsp;&nbsp; 2336437 |
|  |  | &nbsp;&nbsp; 40937277 |
| **Consumer Discretionary-13.74%** | **Consumer Discretionary-13.74%** | **Consumer Discretionary-13.74%** |
| DraftKings, Inc., Class A<sup>(b)</sup> | 184843 | &nbsp;&nbsp; 6632167 |
| Duolingo, Inc.<sup>(b)</sup> | 14747 | &nbsp;&nbsp; 7662689 |
| eBay, Inc. | 175965 | &nbsp;&nbsp; 12875359 |
| Expedia Group, Inc. | 46601 | &nbsp;&nbsp; 7770717 |
| JD.com, Inc., ADR (China) | 180690 | &nbsp;&nbsp; 5856163 |
| Pool Corp.<sup>(c)</sup> | 14212 | &nbsp;&nbsp; 4271985 |
| Rivian Automotive, Inc., Class A<sup>(b)(c)</sup> | 423619 | &nbsp;&nbsp; 6155184 |
| Texas Roadhouse, Inc. | 25116 | &nbsp;&nbsp; 4902894 |
| Tractor Supply Co.<sup>(c)</sup> | 200848 | &nbsp;&nbsp; 9721043 |
| Trip.com Group Ltd., ADR (China)<sup>(c)</sup> | 132616 | &nbsp;&nbsp; 8308392 |
| Ulta Beauty, Inc.<sup>(b)</sup> | 17522 | &nbsp;&nbsp; 8260922 |
|  |  | &nbsp;&nbsp; 82417515 |
| **Consumer Staples-5.45%** | **Consumer Staples-5.45%** | **Consumer Staples-5.45%** |
| Casey's General Stores, Inc. | 14023 | &nbsp;&nbsp; 6138708 |
| Dollar Tree, Inc.<sup>(b)</sup> | 81182 | &nbsp;&nbsp; 7327487 |
| Maplebear, Inc.<sup>(b)</sup> | 99846 | &nbsp;&nbsp; 4559967 |
| Pilgrim's Pride Corp. | 89530 | &nbsp;&nbsp; 4401295 |
| Sprouts Farmers Market, Inc.<sup>(b)</sup> | 37195 | &nbsp;&nbsp; 6429528 |
| The Campbell's Company<sup>(c)</sup> | 112141 | &nbsp;&nbsp; 3817280 |
|  |  | &nbsp;&nbsp; 32674265 |
| **Energy-1.70%** | **Energy-1.70%** | **Energy-1.70%** |
| Expand Energy Corp. | 87928 | &nbsp;&nbsp; 10211079 |
| **Financials-1.74%** | **Financials-1.74%** | **Financials-1.74%** |
| Affirm Holdings, Inc.<sup>(b)(c)</sup> | 104621 | &nbsp;&nbsp; 5429830 |
| Jack Henry & Associates, Inc. | 27488 | &nbsp;&nbsp; 4980001 |
|  |  | &nbsp;&nbsp; 10409831 |
| **Health Care-20.51%** | **Health Care-20.51%** | **Health Care-20.51%** |
| Align Technology, Inc.<sup>(b)(c)</sup> | 27778 | &nbsp;&nbsp; 5026151 |
| Alnylam Pharmaceuticals, Inc.<sup>(b)</sup> | 48884 | &nbsp;&nbsp; 14888111 |
| argenx SE, ADR (Netherlands)<sup>(b)</sup> | 12087 | &nbsp;&nbsp; 6928994 |
| BioMarin Pharmaceutical, Inc.<sup>(b)(c)</sup> | 72139 | &nbsp;&nbsp; 4189112 |
| BioNTech SE, ADR (Germany)<sup>(b)(c)</sup> | 37544 | &nbsp;&nbsp; 3597091 |
| Bio-Techne Corp. | 59815 | &nbsp;&nbsp; 2895046 |
| Cooper Cos., Inc. (The)<sup>(b)</sup> | 75415 | &nbsp;&nbsp; 5149336 |
| Hologic, Inc.<sup>(b)</sup> | 84673 | &nbsp;&nbsp; 5264120 |
| ICON PLC<sup>(b)</sup> | 30444 | &nbsp;&nbsp; 3966244 |
| Illumina, Inc.<sup>(b)(c)</sup> | 59700 | &nbsp;&nbsp; 4909728 |
| Incyte Corp.<sup>(b)</sup> | 73031 | &nbsp;&nbsp; 4751397 |
| Insmed, Inc.<sup>(b)(c)</sup> | 68282 | &nbsp;&nbsp; 4761304 |
| Insulet Corp.<sup>(b)</sup> | 26530 | &nbsp;&nbsp; 8623046 |
| Medpace Holdings, Inc.<sup>(b)(c)</sup> | 11488 | &nbsp;&nbsp; 3387811 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Health Care-(continued)** | **Health Care-(continued)** | **Health Care-(continued)** |
| Moderna, Inc.<sup>(b)(c)</sup> | 145661 | &nbsp;&nbsp; $3868756 |
| Natera, Inc.<sup>(b)</sup> | 51007 | &nbsp;&nbsp; 8045334 |
| Neurocrine Biosciences, Inc.<sup>(b)(c)</sup> | 37629 | &nbsp;&nbsp; 4629120 |
| Royalty Pharma PLC, Class A<sup>(c)</sup> | 163461 | &nbsp;&nbsp; 5374598 |
| Sanofi S.A., ADR<sup>(c)</sup> | 108426 | &nbsp;&nbsp; 5352992 |
| Sarepta Therapeutics, Inc.<sup>(b)(c)</sup> | 36592 | &nbsp;&nbsp; 1375859 |
| Summit Therapeutics, Inc.<sup>(b)(c)</sup> | 278574 | &nbsp;&nbsp; 5074225 |
| United Therapeutics Corp.<sup>(b)</sup> | 16966 | &nbsp;&nbsp; 5409609 |
| Vaxcyte, Inc.<sup>(b)(c)</sup> | 48570 | &nbsp;&nbsp; 1578039 |
| Viatris, Inc. | 451048 | &nbsp;&nbsp; 3964712 |
|  |  | &nbsp;&nbsp; 123010735 |
| **Industrials-12.84%** | **Industrials-12.84%** | **Industrials-12.84%** |
| AAON, Inc.<sup>(c)</sup> | 30770 | &nbsp;&nbsp; 2962843 |
| C.H. Robinson Worldwide, Inc. | 44779 | &nbsp;&nbsp; 4297441 |
| Elbit Systems Ltd. (Israel)<sup>(c)</sup> | 16801 | &nbsp;&nbsp; 6881774 |
| FTAI Aviation Ltd. | 38747 | &nbsp;&nbsp; 4539211 |
| Grab Holdings Ltd., Class A (Singapore)<sup>(b)</sup> | 1476070 | &nbsp;&nbsp; 7188461 |
| J.B. Hunt Transport Services, Inc. | 37747 | &nbsp;&nbsp; 5241171 |
| Lincoln Electric Holdings, Inc. | 21175 | &nbsp;&nbsp; 4099268 |
| Nordson Corp. | 21541 | &nbsp;&nbsp; 4566477 |
| Paylocity Holding Corp.<sup>(b)</sup> | 21093 | &nbsp;&nbsp; 4026654 |
| Ryanair Holdings PLC, ADR (Italy)<sup>(c)</sup> | 86129 | &nbsp;&nbsp; 4788772 |
| Saia, Inc.<sup>(b)(c)</sup> | 10030 | &nbsp;&nbsp; 2652032 |
| SS&C Technologies Holdings, Inc. | 93520 | &nbsp;&nbsp; 7557351 |
| Tetra Tech, Inc. | 101108 | &nbsp;&nbsp; 3532713 |
| United Airlines Holdings, Inc.<sup>(b)</sup> | 123615 | &nbsp;&nbsp; 9820594 |
| Woodward, Inc. | 22434 | &nbsp;&nbsp; 4853147 |
|  |  | &nbsp;&nbsp; 77007909 |
| **Information Technology-32.24%** | **Information Technology-32.24%** | **Information Technology-32.24%** |
| Akamai Technologies, Inc.<sup>(b)(c)</sup> | 56762 | &nbsp;&nbsp; 4309939 |
| Astera Labs, Inc.<sup>(b)</sup> | 61193 | &nbsp;&nbsp; 5551429 |
| Bentley Systems, Inc., Class B | 110050 | &nbsp;&nbsp; 5252686 |
| &nbsp;&nbsp;&nbsp; Check Point Software Technologies Ltd. <br> (Israel)<sup>(b)</sup><br>| 41565 | &nbsp;&nbsp; 9513397 |
| CyberArk Software Ltd.<sup>(b)</sup> | 18619 | &nbsp;&nbsp; 7126981 |
| DocuSign, Inc.<sup>(b)</sup> | 76337 | &nbsp;&nbsp; 6764222 |
| Entegris, Inc.<sup>(c)</sup> | 57075 | &nbsp;&nbsp; 3923336 |
| F5, Inc.<sup>(b)</sup> | 21758 | &nbsp;&nbsp; 6209298 |
| First Solar, Inc.<sup>(b)(c)</sup> | 40413 | &nbsp;&nbsp; 6388487 |
| Flex Ltd.<sup>(b)</sup> | 144531 | &nbsp;&nbsp; 6113661 |
| Gen Digital, Inc.<sup>(c)</sup> | 232721 | &nbsp;&nbsp; 6627894 |
| &nbsp;&nbsp;&nbsp; Logitech International S.A., Class R <br> (Switzerland)<br>| 56277 | &nbsp;&nbsp; 4657485 |
| Manhattan Associates, Inc.<sup>(b)</sup> | 23072 | &nbsp;&nbsp; 4355532 |
| Monday.com Ltd.<sup>(b)</sup> | 18811 | &nbsp;&nbsp; 5596084 |
| Monolithic Power Systems, Inc.<sup>(c)</sup> | 18438 | &nbsp;&nbsp; 12204112 |
| NetApp, Inc. | 76894 | &nbsp;&nbsp; 7624809 |
| Nutanix, Inc., Class A<sup>(b)</sup> | 101235 | &nbsp;&nbsp; 7763712 |
| Okta, Inc.<sup>(b)(c)</sup> | 61815 | &nbsp;&nbsp; 6377455 |
| PTC, Inc.<sup>(b)(c)</sup> | 45407 | &nbsp;&nbsp; 7642906 |
| Sandisk Corp.<sup>(b)(c)</sup> | 54851 | &nbsp;&nbsp; 2067334 |
| Seagate Technology Holdings PLC | 79915 | &nbsp;&nbsp; 9425175 |
| Skyworks Solutions, Inc. | 60644 | &nbsp;&nbsp; 4186255 |
| Super Micro Computer, Inc.<sup>(b)(c)</sup> | 224253 | &nbsp;&nbsp; 8974605 |
| Teradyne, Inc. | 61076 | &nbsp;&nbsp; 4800574 |
| Trimble, Inc.<sup>(b)</sup> | 92755 | &nbsp;&nbsp; 6610649 |
| VeriSign, Inc. | 35749 | &nbsp;&nbsp; 9740530 |
| Western Digital Corp.<sup>(b)(c)</sup> | 131232 | &nbsp;&nbsp; 6765010 |
| Wix.com Ltd. (Israel)<sup>(b)</sup> | 20683 | &nbsp;&nbsp; 3080733 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco NASDAQ Next Gen 100 ETF (QQQJ)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Information Technology-(continued)** | **Information Technology-(continued)** | **Information Technology-(continued)** |
| Zebra Technologies Corp., Class A<sup>(b)</sup> | 19424 | &nbsp;&nbsp; $5628492 |
| Zoom Communications, Inc., Class A<sup>(b)</sup> | 99282 | &nbsp;&nbsp; 8066662 |
|  |  | &nbsp;&nbsp; 193349444 |
| **Materials-1.16%** | **Materials-1.16%** | **Materials-1.16%** |
| Steel Dynamics, Inc. | 56652 | &nbsp;&nbsp; 6972162 |
| **Real Estate-0.99%** | **Real Estate-0.99%** | **Real Estate-0.99%** |
| Zillow Group, Inc., Class A<sup>(b)(c)</sup> | 20544 | &nbsp;&nbsp; 1359397 |
| Zillow Group, Inc., Class C<sup>(b)</sup> | 68673 | &nbsp;&nbsp; 4608645 |
|  |  | &nbsp;&nbsp; 5968042 |
| **Utilities-2.67%** | **Utilities-2.67%** | **Utilities-2.67%** |
| Alliant Energy Corp. | 96913 | &nbsp;&nbsp; 6030896 |
| Evergy, Inc. | 86872 | &nbsp;&nbsp; 5769170 |
| Talen Energy Corp.<sup>(b)(c)</sup> | 17333 | &nbsp;&nbsp; 4228385 |
|  |  | &nbsp;&nbsp; 16028451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $561,593,634) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $561,593,634) | &nbsp;&nbsp; 598986710 |
| **Money Market Funds-0.01%** | **Money Market Funds-0.01%** | **Money Market Funds-0.01%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.24%<sup>(d)(e)</sup> <br>(Cost $67,232)<br>| 67232 | &nbsp;&nbsp; 67232 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.88% <br>(Cost $561,660,866) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.88% <br>(Cost $561,660,866) | &nbsp;&nbsp; 599053942 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-22.28%** | **Money Market Funds-22.28%** | **Money Market Funds-22.28%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.29%<sup>(d)(e)(f)</sup><br>| 33150210 | &nbsp;&nbsp; $33150210 |
| Invesco Private Prime Fund, 4.45%<sup>(d)(e)(f)</sup> | 100415600 | &nbsp;&nbsp; 100435683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $133,585,893) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $133,585,893) | &nbsp;&nbsp; 133585893 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-122.16% <br>(Cost $695,246,759) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-122.16% <br>(Cost $695,246,759) | &nbsp;&nbsp; 732639835 |
| OTHER ASSETS LESS LIABILITIES-(22.16)% | OTHER ASSETS LESS LIABILITIES-(22.16)% | &nbsp;&nbsp; (132888843)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $599750992 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Investment Abbreviations: <br> ADR -American Depositary Receipt

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | 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 <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at May 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 <br> 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 <br> affiliates for the nine months ended May 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 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>**(Loss)**<br>| **Value** <br>**May 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & <br> Agency Portfolio, <br> Institutional Class<br>| &nbsp;&nbsp;&nbsp; $122819 | &nbsp;&nbsp;&nbsp; $6595548 | &nbsp;&nbsp;&nbsp; $(6651135)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $67232 | &nbsp;&nbsp;&nbsp; $5897 |
| **Investments Purchased** <br> **with Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 29413897 | &nbsp;&nbsp;&nbsp; 280541677 | &nbsp;&nbsp;&nbsp; (276805364)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 33150210 | &nbsp;&nbsp;&nbsp; 1,041,198<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 68121348 | &nbsp;&nbsp;&nbsp; 571286000 | &nbsp;&nbsp;&nbsp; (538959437)<br>| &nbsp;&nbsp;&nbsp; (4280)<br>| &nbsp;&nbsp;&nbsp; (7948)<br>| &nbsp;&nbsp;&nbsp; 100435683 | &nbsp;&nbsp;&nbsp; 2,737,486<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $97658064 | &nbsp;&nbsp;&nbsp; $858423225 | &nbsp;&nbsp;&nbsp; $(822415936)<br>| &nbsp;&nbsp;&nbsp; $(4280)<br>| &nbsp;&nbsp;&nbsp; $(7948)<br>| &nbsp;&nbsp;&nbsp; $133653125 | &nbsp;&nbsp;&nbsp; $3784581 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See accompanying notes which are an integral part of this schedule.

------

**Invesco NASDAQ Next Gen 100 ETF (QQQJ)—(continued)**

May 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of May 31, 2025. <br> <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.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup>

**Invesco QQQ Low Volatility ETF (QQLV)**

May 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.80%** | **Common Stocks & Other Equity Interests-99.80%** | **Common Stocks & Other Equity Interests-99.80%** |
| **Communication Services-3.36%** | **Communication Services-3.36%** | **Communication Services-3.36%** |
| T-Mobile US, Inc. | 386 | &nbsp;&nbsp; $93489 |
| **Consumer Discretionary-10.85%** | **Consumer Discretionary-10.85%** | **Consumer Discretionary-10.85%** |
| Marriott International, Inc., Class A | 353 | &nbsp;&nbsp; 93132 |
| O'Reilly Automotive, Inc.<sup>(b)</sup> | 81 | &nbsp;&nbsp; 110768 |
| Ross Stores, Inc. | 702 | &nbsp;&nbsp; 98343 |
|  |  | &nbsp;&nbsp; 302243 |
| **Consumer Staples-24.00%** | **Consumer Staples-24.00%** | **Consumer Staples-24.00%** |
| &nbsp;&nbsp;&nbsp; Coca-Cola Europacific Partners PLC (United <br> Kingdom)<br>| 1477 | &nbsp;&nbsp; 135574 |
| Costco Wholesale Corp. | 101 | &nbsp;&nbsp; 105058 |
| Keurig Dr Pepper, Inc. | 3495 | &nbsp;&nbsp; 117677 |
| Kraft Heinz Co. (The) | 3419 | &nbsp;&nbsp; 91390 |
| Mondelez International, Inc., Class A | 1747 | &nbsp;&nbsp; 117905 |
| PepsiCo, Inc. | 768 | &nbsp;&nbsp; 100953 |
|  |  | &nbsp;&nbsp; 668557 |
| **Health Care-3.65%** | **Health Care-3.65%** | **Health Care-3.65%** |
| AstraZeneca PLC, ADR (United Kingdom) | 1395 | &nbsp;&nbsp; 101598 |
| **Industrials-24.92%** | **Industrials-24.92%** | **Industrials-24.92%** |
| Automatic Data Processing, Inc. | 437 | &nbsp;&nbsp; 142256 |
| CSX Corp. | 3002 | &nbsp;&nbsp; 94833 |
| Fastenal Co. | 2526 | &nbsp;&nbsp; 104425 |
| Honeywell International, Inc. | 528 | &nbsp;&nbsp; 119682 |
| Paychex, Inc. | 737 | &nbsp;&nbsp; 116380 |
| Verisk Analytics, Inc. | 371 | &nbsp;&nbsp; 116546 |
|  |  | &nbsp;&nbsp; 694122 |
| **Information Technology-15.96%** | **Information Technology-15.96%** | **Information Technology-15.96%** |
| Cisco Systems, Inc. | 1808 | &nbsp;&nbsp; 113976 |
| Cognizant Technology Solutions Corp., Class A | 1250 | &nbsp;&nbsp; 101238 |
| Microsoft Corp. | 254 | &nbsp;&nbsp; 116931 |
| Roper Technologies, Inc. | 197 | &nbsp;&nbsp; 112343 |
|  |  | &nbsp;&nbsp; 444488 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Materials-5.24%** | **Materials-5.24%** | **Materials-5.24%** |
| Linde PLC | 312 | &nbsp;&nbsp; $145885 |
| **Utilities-11.82%** | **Utilities-11.82%** | **Utilities-11.82%** |
| American Electric Power Co., Inc.<sup>(c)</sup> | 1126 | &nbsp;&nbsp; 116530 |
| Exelon Corp. | 2721 | &nbsp;&nbsp; 119234 |
| Xcel Energy, Inc. | 1335 | &nbsp;&nbsp; 93584 |
|  |  | &nbsp;&nbsp; 329348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $2,714,405) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $2,714,405) | &nbsp;&nbsp; 2779730 |
| **Money Market Funds-0.05%** | **Money Market Funds-0.05%** | **Money Market Funds-0.05%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.24%<sup>(d)(e)</sup> <br>(Cost $1,214)<br>| 1214 | &nbsp;&nbsp; 1214 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-99.85% <br>(Cost $2,715,619) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-99.85% <br>(Cost $2,715,619) | &nbsp;&nbsp; 2780944 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-4.18%** | **Money Market Funds-4.18%** | **Money Market Funds-4.18%** |
| Invesco Private Government Fund, 4.29%<sup>(d)(e)(f)</sup> | 32628 | &nbsp;&nbsp; 32628 |
| Invesco Private Prime Fund, 4.45%<sup>(d)(e)(f)</sup> | 83880 | &nbsp;&nbsp; 83897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $116,525) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $116,525) | &nbsp;&nbsp; 116525 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-104.03% <br>(Cost $2,832,144) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-104.03% <br>(Cost $2,832,144) | &nbsp;&nbsp; 2897469 |
| OTHER ASSETS LESS LIABILITIES-(4.03)% | OTHER ASSETS LESS LIABILITIES-(4.03)% | &nbsp;&nbsp; (112152)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $2785317 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Investment Abbreviations: <br> ADR -American Depositary Receipt

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | 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 <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at May 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 <br> 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 <br> affiliates for the period ended May 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 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>**May 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $18164 | &nbsp;&nbsp;&nbsp; $(16950)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1214 | &nbsp;&nbsp;&nbsp; $21 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco QQQ Low Volatility ETF (QQLV)—(continued)**

May 31, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **August 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> **May 31, 2025**<br>| **Dividend Income** |
| **Investments Purchased with** <br> **Cash Collateral from Securities** <br> **on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government Fund | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $665763 | &nbsp;&nbsp;&nbsp; $(633135)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $32628 | &nbsp;&nbsp;&nbsp; $228<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 1052623 | &nbsp;&nbsp;&nbsp; (968713)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; (13)<br>| &nbsp;&nbsp;&nbsp; 83897 | &nbsp;&nbsp;&nbsp; 504<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1736550 | &nbsp;&nbsp;&nbsp; $(1618798)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $(13)<br>| &nbsp;&nbsp;&nbsp; $117739 | &nbsp;&nbsp;&nbsp; $753 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of May 31, 2025. <br> <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.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

**Notes to Quarterly Schedules of Portfolio Holdings**

May 31, 2025

*(Unaudited)*

**NOTE 1—Additional Valuation Information**

Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment's assigned level:

Level 1 — Prices are determined using quoted prices in an active market for identical assets.

Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. 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 Invesco Capital Management LLC'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 May 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** |
| &nbsp;&nbsp; Invesco ESG NASDAQ 100 ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $81229548 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $81229548 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 76231 | &nbsp;&nbsp;&nbsp; 852574 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 928805 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $81305779 | &nbsp;&nbsp;&nbsp; $852574 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $82158353 |
| &nbsp;&nbsp; Invesco ESG NASDAQ Next Gen 100 ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $5843241 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $5843241 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 3322 | &nbsp;&nbsp;&nbsp; 1307925 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 1311247 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $5846563 | &nbsp;&nbsp;&nbsp; $1307925 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $7154488 |
| &nbsp;&nbsp; Invesco NASDAQ 100 ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $48283321980 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $48283321980 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 44521630 | &nbsp;&nbsp;&nbsp; 349932286 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 394453916 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp; 48327843610 | &nbsp;&nbsp;&nbsp; 358971011 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 48677775896 |
| **Other Investments - Assets**<sup>(a)</sup> <br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | &nbsp;&nbsp;&nbsp; 7977690 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 7977690 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $48335821300 | &nbsp;&nbsp;&nbsp; $349932286 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $48685753586 |
| &nbsp;&nbsp; Invesco NASDAQ Future Gen 200 ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $7688381 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $3728 | &nbsp;&nbsp;&nbsp; $7692109 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 755656 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 755656 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $7688381 | &nbsp;&nbsp;&nbsp; $755656 | &nbsp;&nbsp;&nbsp; $3728 | &nbsp;&nbsp;&nbsp; $8447765 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp; Invesco NASDAQ Next Gen 100 ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $598986710 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $598986710 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 67232 | &nbsp;&nbsp;&nbsp; 133585893 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 133653125 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $599053942 | &nbsp;&nbsp;&nbsp; $133585893 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $732639835 |
| &nbsp;&nbsp; Invesco QQQ Low Volatility ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $2779730 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $2779730 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 1214 | &nbsp;&nbsp;&nbsp; 116525 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 117739 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $2780944 | &nbsp;&nbsp;&nbsp; $116525 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $2897469 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Unrealized appreciation (depreciation).

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Invesco Exchange-Traded Fund Trust II

- **b. Investment Company Act file number:** 811-21977

- **c. CIK number of Registrant:** 0001378872

- **d. LEI of Registrant:** O540V2L4S174Y60FMD36

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 3500 Lacey Road

  - **City:** Downers Grove

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60515

  - **Telephone number:** 800-983-0903

**Item A.2. Information about the Series.**

- **a. Name of Series:** Invesco ESG Nasdaq 100 ETF

- **b. EDGAR series identifier (if any):** S000073013

- **c. LEI of Series:** 549300F267TCX60JAF02

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $82196473.22

**Total Liabilities:** $865783.04

**Net Assets:** $81330690.18

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000229782 | -7.48%               | 1.82%                | 9.10%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-363756.18              | $-5160113.88                               |
| Month 2  | $576406.95               | $980949.64                                 |
| Month 3  | $528928.15               | $6081780.75                                |

### Schedule of Portfolio Investments

| Name                                  | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AstraZeneca PLC                       | AstraZeneca PLC, ADR                                       | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |      2751 | NS      | $200355.33    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software, Inc.   | Take-Two Interactive Software, Inc.                        | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      1107 | NS      | $250491.96    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc.                            | Adobe Inc.                                                 | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      2935 | NS      | $1218289.15   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash, Inc.                        | DoorDash, Inc., Class A                                    | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |      1704 | NS      | $355539.60    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                   | Cisco Systems, Inc.                                        | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     28091 | NS      | $1770856.64   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp.                             | KLA Corp.                                                  | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       930 | NS      | $703898.40    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                         | Netflix, Inc.                                              | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      2720 | NS      | $3283665.60   | 4.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores, Inc.                     | Ross Stores, Inc.                                          | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |      1971 | NS      | $276117.39    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlassian Corp.                       | Atlassian Corp., Class A                                   | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |       953 | NS      | $197871.39    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc.           | Vertex Pharmaceuticals Inc.                                | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      1366 | NS      | $603840.30    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla, Inc.                           | Tesla, Inc.                                                | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      5880 | NS      | $2037184.80   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys, Inc.                        | Synopsys, Inc.                                             | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      1045 | NS      | $484859.10    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HealthCare Technologies Inc.       | GE HealthCare Technologies Inc.                            | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |      2205 | NS      | $155540.70    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.       | Regeneron Pharmaceuticals, Inc.                            | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |       604 | NS      | $296129.12    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp.                        | AppLovin Corp., Class A                                    | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      1675 | NS      | $658275.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp.                | Costco Wholesale Corp.                                     | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      1258 | NS      | $1308546.44   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbnb, Inc.                          | Airbnb, Inc., Class A                                      | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      1871 | NS      | $241359.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences, Inc.                 | Gilead Sciences, Inc.                                      | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      5933 | NS      | $653104.64    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                             | Linde PLC                                                  | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |      3496 | NS      | $1634659.68   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                         | Alphabet Inc., Class A                                     | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      9337 | NS      | $1603536.38   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                      | Amazon.com, Inc.                                           | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     14414 | NS      | $2955014.14   | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks, Inc.              | Palo Alto Networks, Inc.                                   | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      4661 | NS      | $896869.62    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR Inc.                           | PACCAR Inc.                                                | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |      1178 | NS      | $110555.30    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc.              | Lululemon Athletica Inc.                                   | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |       784 | NS      | $248269.28    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices, Inc.          | Advanced Micro Devices, Inc.                               | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     11588 | NS      | $1283139.24   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp.                         | Comcast Corp., Class A                                     | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     17395 | NS      | $601345.15    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk, Inc.                        | Autodesk, Inc.                                             | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |      1389 | NS      | $411310.68    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc.                 | Keurig Dr Pepper Inc.                                      | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |      5552 | NS      | $186935.84    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday, Inc.                         | Workday, Inc., Class A                                     | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      1326 | NS      | $328463.46    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen Inc.                           | Biogen Inc.                                                | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |       740 | NS      | $96044.60     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group, Inc.                    | CoStar Group, Inc.                                         | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |      1965 | NS      | $144545.40    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems, Inc.          | Cadence Design Systems, Inc.                               | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      1820 | NS      | $522467.40    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp.                | ON Semiconductor Corp.                                     | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |      2063 | NS      | $86687.26     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc.                         | Broadcom Inc.                                              | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     15781 | NS      | $3820106.67   | 4.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical, Inc.              | Intuitive Surgical, Inc.                                   | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      2037 | NS      | $1125116.58   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Trade Desk, Inc. (The)                | Trade Desk, Inc. (The), Class A                            | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |      2024 | NS      | $152245.28    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Zscaler, Inc.                         | Zscaler, Inc.                                              | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |       936 | NS      | $258055.20    | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| Automatic Data Processing, Inc.       | Automatic Data Processing, Inc.                            | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      2633 | NS      | $857120.49    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp.                    | Lam Research Corp.                                         | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      9277 | NS      | $749488.83    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.          | Charter Communications, Inc., Class A                      | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |       602 | NS      | $238554.54    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US, Inc.                     | T-Mobile US, Inc.                                          | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      5058 | NS      | $1225047.60   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros. Discovery, Inc.          | Warner Bros. Discovery, Inc.                               | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |     13968 | NS      | $139260.96    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials, Inc.               | Applied Materials, Inc.                                    | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      6010 | NS      | $942067.50    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                         | Alphabet Inc., Class C                                     | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      8799 | NS      | $1520907.15   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex, Inc.                         | Paychex, Inc.                                              | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |      2184 | NS      | $344875.44    | 0.42%             |  |  |  | No            |                  1 | On Loan: —       |
| NVIDIA Corp.                          | NVIDIA Corp.                                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     66170 | NS      | $8941552.10   | 10.99%            |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International, Inc.          | Marriott International, Inc., Class A                      | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |      1482 | NS      | $390996.06    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc.                  | Electronic Arts Inc.                                       | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      1833 | NS      | $263548.74    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings, Inc.                 | PayPal Holdings, Inc.                                      | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |      6104 | NS      | $428989.12    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre, Inc.                    | MercadoLibre, Inc.                                         | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       230 | NS      | $589556.70    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD Holdings Inc.                     | PDD Holdings Inc., ADR                                     | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |      1917 | NS      | $185009.67    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp.                          | Cintas Corp.                                               | CUSIP: 172908105<br>LEI: 549300E27V6N4OJCJ944 | Long             | EC               | CORP              | US        |      2410 | NS      | $545865.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                  | Meta Platforms, Inc., Class A                              | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      1683 | NS      | $1089725.67   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet, Inc.                        | Fortinet, Inc.                                             | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |      4809 | NS      | $489460.02    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo, Inc.                         | PepsiCo, Inc.                                              | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      7141 | NS      | $938684.45    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International, Inc.          | Mondelez International, Inc., Class A                      | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |      6064 | NS      | $409259.36    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Private Prime Fund            | Invesco Private Prime Fund                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |    616273 | NS      | $616273.23    | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Verisk Analytics, Inc.                | Verisk Analytics, Inc.                                     | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |       864 | NS      | $271416.96    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                            | Amgen Inc.                                                 | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      2408 | NS      | $693937.44    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp.                          | Exelon Corp.                                               | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |      5495 | NS      | $240790.90    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc.             | Microchip Technology Inc.                                  | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |      1429 | NS      | $82939.16     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc.            | Palantir Technologies Inc., Class A                        | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     10326 | NS      | $1360760.28   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBALFOUNDRIES Inc.                  | GLOBALFOUNDRIES Inc.                                       | CUSIP: G39387108<br>LEI: 549300BA76VK784VMX48 | Long             | EC               | CORP              | KY        |      3341 | NS      | $119607.80    | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Booking Holdings Inc.                 | Booking Holdings Inc.                                      | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       216 | NS      | $1192088.88   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Co. (The)                 | Kraft Heinz Co. (The)                                      | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |      2769 | NS      | $74015.37     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line, Inc.       | Old Dominion Freight Line, Inc.                            | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |      1331 | NS      | $213186.27    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co.                          | Fastenal Co.                                               | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |      4465 | NS      | $184583.10    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies, Inc.              | Roper Technologies, Inc.                                   | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |       574 | NS      | $327334.98    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                            | Apple Inc.                                                 | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     34750 | NS      | $6979537.50   | 8.58%             |  |  |  | No            |                  1 | On Loan: No      |
| ANSYS, Inc.                           | ANSYS, Inc.                                                | CUSIP: 03662Q105<br>LEI: 549300VJV8H15Z5FJ571 | Long             | EC               | CORP              | US        |       578 | NS      | $191213.96    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart, Inc.                          | Copart, Inc.                                               | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |      5465 | NS      | $281338.20    | 0.35%             |  |  |  | No            |                  1 | On Loan: —       |
| Datadog, Inc.                         | Datadog, Inc., Class A                                     | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |      1971 | NS      | $232341.48    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp.                             | CDW Corp.                                                  | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |      1117 | NS      | $201462.12    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Monster Beverage Corp.                | Monster Beverage Corp.                                     | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |      1798 | NS      | $114982.10    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Europacific Partners PLC    | Coca-Cola Europacific Partners PLC                         | CUSIP: G25839104<br>LEI: 549300LTH67W4GWMRF57 | Long             | EC               | CORP              | GB        |      2776 | NS      | $254809.04    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Government & Agency Portfolio | Invesco Government & Agency Portfolio, Institutional Class | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |     76231 | NS      | $76230.97     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| DexCom, Inc.                          | DexCom, Inc.                                               | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |      2009 | NS      | $172372.20    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                       | Starbucks Corp.                                            | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      5215 | NS      | $437799.25    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CrowdStrike Holdings, Inc.            | CrowdStrike Holdings, Inc., Class A                        | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      1352 | NS      | $637292.24    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories, Inc.              | IDEXX Laboratories, Inc.                                   | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |       502 | NS      | $257706.72    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Private Government Fund       | Invesco Private Government Fund                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |    236301 | NS      | $236301.49    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Intel Corp.                           | Intel Corp.                                                | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     23463 | NS      | $458701.65    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                       | Microsoft Corp.                                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     19237 | NS      | $8855945.32   | 10.89%            |  |  |  | No            |                  1 | On Loan: No      |
| MicroStrategy Inc.                    | MicroStrategy Inc., Class A                                | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |       551 | NS      | $203352.06    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive, Inc.             | O'Reilly Automotive, Inc.                                  | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |       420 | NS      | $574350.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding N.V.                     | ASML Holding N.V., New York Shares                         | CUSIP: N07059210<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |       741 | NS      | $545946.57    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology, Inc.              | Marvell Technology, Inc.                                   | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5408 | NS      | $325507.52    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors N.V.               | NXP Semiconductors N.V.                                    | CUSIP: N6596X109<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |      1537 | NS      | $293766.81    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc.                         | QUALCOMM Inc.                                              | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      7588 | NS      | $1101777.60   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology, Inc.               | Micron Technology, Inc.                                    | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      6201 | NS      | $585746.46    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc.                | Texas Instruments Inc.                                     | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      4290 | NS      | $784426.50    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions Corp.  | Cognizant Technology Solutions Corp., Class A              | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      3172 | NS      | $256900.28    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc.                           | Intuit Inc.                                                | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      1686 | NS      | $1270350.42   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Invesco Exchange-Traded Fund Trust II

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Vice President